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EXHIBIT 12-20
THE DETROIT EDISON COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Twelve Months Ended December 31
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2003 2002 2001 2000 1999
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(Millions of Dollars)
EARNINGS:
Pretax earnings ................................ $ 397 $ 534 $ 320 $ 586 $ 645
Fixed charges .................................. 294 322 314 311 322
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$ 691 $ 856 $ 634 $ 897 $ 967
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FIXED CHARGES:
Interest expense ............................... $ 284 $ 319 $ 306 $ 277 $ 288
Interest factor of rents ....................... 10 3 8 34 34
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$ 294 $ 322 $ 314 $ 311 $ 322
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Ratio of earnings to fixed charges ................. 2.35 2.66 2.02 2.88 3.00
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