Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - Otter Tail Corp | c56502e10vk.htm |
| EX-32.2 - EX-32.2 - Otter Tail Corp | c56502exv32w2.htm |
| EX-21.A - EX-21.A - Otter Tail Corp | c56502exv21wa.htm |
| EX-31.2 - EX-31.2 - Otter Tail Corp | c56502exv31w2.htm |
| EX-31.1 - EX-31.1 - Otter Tail Corp | c56502exv31w1.htm |
| EX-32.1 - EX-32.1 - Otter Tail Corp | c56502exv32w1.htm |
| EX-24.A - EX-24.A - Otter Tail Corp | c56502exv24wa.htm |
| EX-23.A - EX-23.A - Otter Tail Corp | c56502exv23wa.htm |
Exhibit 12.1
OTTER TAIL CORPORATION
CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
| Year Ended December 31, | ||||||||||||||||||||
| 2005 | 2006 | 2007 | 2008 | 2009 | ||||||||||||||||
Earnings |
||||||||||||||||||||
Pretax income from continuing operations |
$ | 81,912,596 | $ | 77,855,302 | $ | 81,928,914 | $ | 50,161,916 | $ | 21,425,878 | ||||||||||
Plus fixed charges (see below) |
24,615,267 | 26,458,342 | 32,389,334 | 36,082,847 | 36,304,519 | |||||||||||||||
Total earnings (1) |
$ | 106,527,863 | $ | 104,313,644 | $ | 114,318,248 | $ | 86,244,763 | $ | 57,730,397 | ||||||||||
Fixed Charges |
||||||||||||||||||||
Interest charges |
$ | 17,637,279 | $ | 18,789,945 | $ | 22,384,136 | $ | 28,094,844 | $ | 27,622,443 | ||||||||||
Amortization of debt expense, premium
and discount |
1,010,988 | 945,397 | 1,138,198 | 1,020,003 | 2,127,076 | |||||||||||||||
Estimated interest component of
operating leases |
5,967,000 | 6,723,000 | 8,867,000 | 6,968,000 | 6,555,000 | |||||||||||||||
Total fixed charges (2) |
$ | 24,615,267 | $ | 26,458,342 | $ | 32,389,334 | $ | 36,082,847 | $ | 36,304,519 | ||||||||||
Preferred Dividend Requirement |
$ | 1,044,009 | $ | 1,043,125 | $ | 1,033,385 | $ | 981,547 | $ | 633,832 | ||||||||||
Total Fixed Charges and Preferred
Dividend Requirement (3) |
$ | 25,659,276 | $ | 27,501,467 | $ | 33,422,719 | $ | 37,064,394 | $ | 36,938,351 | ||||||||||
Ratio of Earnings to Fixed Charges
(1) Divided by (2) |
4.33 | 3.94 | 3.53 | 2.39 | 1.59 | |||||||||||||||
Ratio of Earnings to Fixed Charges and
Preferred Dividends (1) Divided by (3) |
4.15 | 3.79 | 3.42 | 2.33 | 1.56 | |||||||||||||||