EX-12 9 exhibit1212-31x2012.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Exhibit 12
ALLETE
Computation of Ratios of Earnings to Fixed Charges (Unaudited)

Year Ended December 31, | 2012 | 2011 | 2010 | 2009 | 2008
Millions |  |  |  |  |
Earnings are defined: |  |  |  |  |
| Pretax Income Before Non-Controlling Interest |  | $135.0 |  |  | $129.2 |  |  | $119.1 |  |  | $91.5 |  |  | $126.4 |
| Add: Fixed Charges | 51.2 |  | 47.6 |  | 43.4 |  | 38.3 |  | 30.3 |
| Undistributed Income from Less than 50 percent Owned Equity Investment | 3.8 |  | 3.8 |  | 3.4 |  | 3.7 |  | 3.8 |
| Earnings as defined: |  | $182.4 |  |  | $173.0 |  |  | $159.1 |  |  | $126.1 |  |  | $152.9 |
Fixed Charges: |  |  |  |  |
| Interest on Long-Term Debt |  | $47.0 |  |  | $43.1 |  |  | $39.7 |  |  | $34.2 |  |  | $27.4 |
| Other Interest Charges | 0.4 |  | 1.6 |  | 1.0 |  | 1.6 |  | 0.4 |
| Interest Component of All Rentals (a) | 3.8 |  | 2.9 |  | 2.7 |  | 2.5 |  | 2.5 |
| Total Fixed Charges |  | $51.2 |  |  | $47.6 |  |  | $43.4 |  |  | $38.3 |  |  | $30.3 |
Ratio of Earnings to Fixed Charges | 3.56 |  | 3.63 |  | 3.67 |  | 3.29 |  | 5.05 |

(a) | Represents interest portion of rents estimated at 33 1/3 percent.