EX-12 6 ex1208-01x16.htm EXHIBIT 12 Exhibit


Exhibit 12

ALLETE
Computation of Ratios of Earnings to Fixed Charges (Unaudited)

 
 
 
For the Three Months Ended March 31,
 
For the Years Ended December 31,
 
 
2016
 
2015
2014
2013
2012
2011
Millions
 
 
 
 
 
 
 
 
Earnings are defined:
 
 
 
 
 
 
 
 
 
Pretax Income Before Non-Controlling Interest
 

$55.7

 

$166.8


$162.2


$133.3


$135.0


$129.2

 
Add: Fixed Charges
 
18.7

 
71.9

62.5

56.7

51.2

47.6

 
Less: Undistributed Income from Less than
 
 
 
 
 
 
 
 
 
 50 percent Owned Equity Investment
 
2.9

 
1.8

2.6

4.1

3.8

3.8

 
Earnings as defined:
 

$71.5

 

$236.9


$222.1


$185.9


$182.4


$173.0

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest on Long-Term Debt
 

$17.1

 

$64.7


$55.6


$50.9


$47.0


$43.1

 
Other Interest Charges
 
0.1

 
1.4

2.0

1.2

0.4

1.6

 
Interest Component of All Rentals (a)
 
1.5

 
5.8

4.9

4.6

3.8

2.9

 
Total Fixed Charges
 

$18.7

 

$71.9


$62.5


$56.7


$51.2


$47.6

Ratio of Earnings to Fixed Charges
 
3.82

 
3.29

3.55

3.28

3.56

3.63

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