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Previous: DETROIT EDISON CO, 10-Q, EX-11.19, 2000-08-11 |
Next: DETROIT EDISON CO, 10-Q, EX-12.25, 2000-08-11 |
<PAGE> 1
EXHIBIT 12-24
DTE ENERGY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
Six
Months Year Ended December 31
Ended --------------------------------------
6/30/00 1999 1998 1997
------- ---- ---- ----
(Millions, except for ratio and percent)
<S> <C> <C> <C> <C>
Net income............................................. $ 225 $ 483 $ 443 $ 417
----------- ----------- ---------- --------
Taxes based on income:
Income taxes........................................ 25 60 154 257
Municipal and state................................. 1 3 3 4
---------- ----------- ----------- --------
Total taxes based on income....................... 26 63 157 261
---------- ----------- ----------- --------
Fixed charges:
Interest expense.................................... 165 340 319 297
Allowance for funds used during
construction...................................... - 4 - -
Interest factor of rents............................ 17 34 34 34
Preferred stock dividend factor..................... - - 7 18
---------- ----------- ----------- --------
Total fixed charges............................... 182 378 360 349
---------- ----------- ----------- --------
Earnings before taxes based on income
and fixed charges................................... $ 433 $ 924 $ 960 $ 1,027
=========== =========== =========== ========
Ratio of earnings to fixed charges 2.38 2.44 2.67 2.94
Preferred stock dividends.............................. $ - $ - $ 6 $ 12
Dividends meeting requirement of
IRC Section 247..................................... $ - $ - $ 4 $ 4
Percent deductible for income tax purposes............. - - 40.00% 40.00%
Amount deductible...................................... - - 2 2
Amount not deductible.................................. - - 4 10
Ratio of pretax income to net income................... - - 1.35 1.61
Dividend factor for amount not deductible.............. - - 5 16
Amount deductible...................................... - - 2 2
----------- ----------- ----------- ---------
Total preferred stock dividend factor............. $ - $ - $ 7 $ 18
=========== =========== =========== =========
</TABLE>
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