EXHIBIT 12-38
DTE ENERGY COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Six Months Ended | ||||||||||||||||||||||||
June 30 | Twelve Months Ended December 31 | |||||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||||||
(Millions of Dollars) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pretax earnings (loss) | $ | (26 | ) | $ | 497 | $ | 423 | $ | 287 | $ | 485 | $ | 202 | |||||||||||
Adjustments | (3 | ) | 5 | 2 | 26 | 24 | 31 | |||||||||||||||||
Fixed charges | 283 | 547 | 544 | 569 | 557 | 476 | ||||||||||||||||||
Net earnings | $ | 254 | $ | 1,049 | $ | 969 | $ | 882 | $ | 1,066 | $ | 709 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 267 | $ | 519 | $ | 516 | $ | 545 | $ | 553 | $ | 468 | ||||||||||||
Adjustments | 16 | 28 | 28 | 24 | 4 | 8 | ||||||||||||||||||
Fixed charges | $ | 283 | $ | 547 | $ | 544 | $ | 569 | $ | 557 | $ | 476 | ||||||||||||
Ratios of earnings to fixed charges and ratios of earnings to combined fixed charges and preferred stock dividends (2) | 0.90 | (1) | 1.92 | 1.78 | 1.55 | 1.91 | 1.49 | |||||||||||||||||
(1) | The earnings for the six month period ended June 30, 2006 were not adequate to cover fixed charges. The amount of the deficiency was approximately $29 million. | |
(2) | DTE Energy had no preferred stock outstanding during the periods indicated; therefore, the ratios of earnings to combined fixed charges and preferred stock dividends is the same as the ratios of earnings to fixed charges for each period. |