1 EXHIBIT 12-22 THE DETROIT EDISON COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Year Ended December 31 ------------------------------------------------------ 1999 1998 1997 ---- ---- ---- (Millions, except for ratio) Net income............................................. $ 434 $ 418 $ 417 --------------- ---------------- --------------- Taxes based on income: Current income taxes................................ 282 280 308 Deferred taxes - net................................ (60) (5) (6) Investment tax credit adjustments - net............. (11) (15) (14) Municipal and state................................. 3 3 4 --------------- ---------------- --------------- Total taxes based on income....................... 214 263 292 --------------- ---------------- --------------- Fixed charges: Interest on long-term debt.......................... 252 254 262 Amortization of debt discount, premium and expense....................................... 17 11 11 Other interest...................................... 19 13 9 Interest factor of rents............................ 34 34 34 --------------- ---------------- --------------- Total fixed charges............................... 322 312 316 --------------- ---------------- --------------- Earnings before taxes based on income and fixed charges................................... $ 970 $ 993 $ 1,025 =============== ================ =============== Ratio of earnings to fixed charges..................... 3.01 3.18 3.24