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Previous: DETROIT EDISON CO, 10-Q, EX-11.20, 2000-11-13 |
Next: DETROIT EDISON CO, 10-Q, EX-12.27, 2000-11-13 |
<PAGE> 1
EXHIBIT 12-26
DTE ENERGY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
Nine Year Ended December 31
Months --------------------------------------------
Ended
9/30/00 1999 1998 1997
------- ---- ---- ----
(Millions, except for ratio and percent)
<S> <C> <C> <C> <C>
Net income............................................. $ 329 $ 483 $ 443 $ 417
----------- ----------- ----------- ----------
Taxes based on income:
Income taxes........................................ 1 60 154 257
Municipal and state................................. 2 3 3 4
---------- ----------- ----------- ----------
Total taxes based on income....................... 3 63 157 261
---------- ----------- ----------- ----------
Fixed charges:
Interest expense.................................... 251 340 319 297
Allowance for funds used during
construction...................................... - 4 - -
Interest factor of rents............................ 26 34 34 34
Preferred stock dividend factor..................... - - 7 18
---------- ----------- ----------- ----------
Total fixed charges............................... 277 378 360 349
---------- ----------- ----------- ----------
Earnings before taxes based on income
and fixed charges................................... $ 609 $ 924 $ 960 $ 1,027
=========== =========== =========== ==========
Ratio of earnings to fixed charges 2.20 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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