EX-12.7 2 k04893exv12w7.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w7
 

EXHIBIT 12-7
MICHIGAN CONSOLIDATED GAS COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                 
    Three Months        
    Ended March 31     Twelve Months Ended December 31  
(Millions of Dollars)   2006     2005     2004     2003     2002     2001  
Earnings:
                                                
Pretax earnings
   $ 68     $ (1 )   $ 10     $ 45     $ 32     $ (66 )
Adjustments
     (1 )     2       (3 )     —       —       —  
Fixed charges
     17       59       59       58       62       61  
 
                                    
Net earnings
   $ 84     $ 60     $ 66     $ 103     $ 94     $ (5 )
 
                                    
 
                                                
Fixed charges:
                                                
Interest expense
   $ 17     $ 57     $ 57     $ 57     $ 60     $ 59  
Adjustments
     —       2       2       1       2       2  
 
                                    
Fixed charges
   $ 17     $ 59     $ 59     $ 58     $ 62     $ 61  
 
                                    
 
                                                
Ratio of earnings to fixed charges
     4.94       1.02       1.12       1.77       1.53     $ (66 )
 
                                    
 
(1)   The earnings for the twelve-month period ended December 31, 2001 were not adequate to cover fixed charges. The amount of the deficiency was $66,432,000. The Ratio of Earnings to Fixed Charges excluding unusual charges would have been 1.62.