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EXHIBIT 11-2
DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
OF COMMON STOCK
Year Ended December 31
-----------------------------------------------------
1995 1994 1993
----------------- ---------------- ----------------
(Thousands, except per share amounts)
PRIMARY:
Net Income ................................. $405,914 $390,269 $491,066
Weighted average number of common
shares outstanding (a) .................... 144,940 146,152 147,031
Earnings per share of Common Stock
based on weighted average number
of shares outstanding ..................... $2.80 $2.67 $3.34
FULLY DILUTED:
Net Income ................................. $405,914 $390,269 $491,066
Convertible Preferred Stock dividends ...... 205 314 340
-------- -------- --------
$406,119 $390,583 $491,406
======== ======== ========
Weighted average number of common
shares outstanding (a) .................... 144,940 146,152 147,031
Conversion of convertible Preferred Stock .. 237 324 351
-------- -------- --------
145,177 146,476 147,382
======== ======== ========
Earnings per share of Common Stock
assuming conversion of outstanding
convertible Preferred Stock ............... $2.80 $2.67 $3.33
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(a) Based on a daily average.