EX-12.30 11 k60558ex12-30.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12-30 DTE ENERGY COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Year Ended December 31 Months ------------------------------------------ Ended 3/31/01 2000 1999 1998 ------- ---- ---- ---- (Millions, except for ratio and percent) Net income............................................. $ 138 $ 468 $ 483 $ 443 ----------- ----------- ----------- ----------- Taxes based on income: Income taxes........................................ 19 9 60 154 Municipal and state................................. 1 3 3 3 ---------- ----------- ----------- ----------- Total taxes based on income....................... 20 12 63 157 ---------- ----------- ----------- ----------- Fixed charges: Interest on long-term debt.......................... 71 260 279 279 Amortization of debt discount, premium and expense....................................... 2 11 18 11 Other interest...................................... 18 65 47 29 Interest factor of rents............................ 9 34 34 34 Preferred stock dividend factor..................... - - - 7 ---------- ----------- ----------- ----------- Total fixed charges............................... 100 370 378 360 ---------- ----------- ----------- ----------- Earnings before taxes based on income and fixed charges................................... $ 258 $ 850 $ 924 $ 960 =========== =========== =========== =========== Ratio of earnings to fixed charges 2.58 2.30 2.44 2.67 Preferred stock dividends.............................. $ N/A $ N/A $ N/A $ 6 Dividends meeting requirement of IRC Section 247..................................... $ N/A $ N/A $ N/A $ 4 Percent deductible for income tax purposes............. N/A N/A N/A 40.00% Amount deductible...................................... N/A N/A N/A 2 Amount not deductible.................................. N/A N/A N/A 4 Ratio of pretax income to net income................... N/A N/A N/A 1.35 Dividend factor for amount not deductible.............. N/A N/A N/A 5 Amount deductible...................................... N/A N/A N/A 2 ----------- ----------- ----------- ----------- Total preferred stock dividend factor............. $ N/A $ N/A $ N/A $ 7 =========== =========== ========== ===========