Exhibit 12
ALLETE
Computation of Ratios of Earnings to Fixed Charges (Unaudited)
For the Six Months Ended June 30, | For the Years Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
Millions | |||||||||||||||||||||
Earnings are defined: | |||||||||||||||||||||
Pretax Income Before Non-Controlling Interest | $58.1 | $135.0 | $129.2 | $119.1 | $91.5 | $126.4 | |||||||||||||||
Add: Fixed Charges | 27.7 | 51.2 | 47.6 | 43.4 | 38.3 | 30.3 | |||||||||||||||
Less: Undistributed Income from Less than | |||||||||||||||||||||
50 percent Owned Equity Investment | 2.3 | 3.8 | 3.8 | 3.4 | 3.7 | 3.8 | |||||||||||||||
Earnings as defined: | $83.5 | $182.4 | $173.0 | $159.1 | $126.1 | $152.9 | |||||||||||||||
Fixed Charges: | |||||||||||||||||||||
Interest on Long-Term Debt | $25.2 | $47.0 | $43.1 | $39.7 | $34.2 | $27.4 | |||||||||||||||
Other Interest Charges | 0.7 | 0.4 | 1.6 | 1.0 | 1.6 | 0.4 | |||||||||||||||
Interest Component of All Rentals (a) | 1.8 | 3.8 | 2.9 | 2.7 | 2.5 | 2.5 | |||||||||||||||
Total Fixed Charges | $27.7 | $51.2 | $47.6 | $43.4 | $38.3 | $30.3 | |||||||||||||||
Ratio of Earnings to Fixed Charges | 3.01 | 3.56 | 3.63 | 3.67 | 3.29 | 5.05 |
(a) | Represents interest portion of rents estimated at 33 1/3 percent. |