EX-12.32 4 k74326exv12w32.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12-32 DTE ENERGY COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED SECURITIES DIVIDENDS
Twelve Months Ended December 31 -------------------------------------------------------------- 2002 2001 2000 1999 1998 ------ ------ ------ ------ ------ (Millions, except for ratio) EARNINGS: Pretax earnings $ 573 $ 219 $ 480 $ 546 $ 600 Add: Loss from equity investee 14 22 26 15 5 Fixed charges 600 501 370 378 360 Distributed income from equity investees 10 9 -- -- -- ------ ------ ------ ------ ------ 1,197 751 876 939 965 ------ ------ ------ ------ ------ FIXED CHARGES: Interest expense 558 470 336 344 319 Interest factor of rents 4 8 34 34 34 Preferred stock dividend factor 38 23 -- -- 7 ------ ------ ------ ------ ------ $ 600 $ 501 $ 370 $ 378 $ 360 ------ ------ ------ ------ ------ Ratio of earnings to fixed charges 1.99 1.50 2.37 2.48 2.68 ====== ====== ====== ====== ======