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EXHIBIT 12-13
THE DETROIT EDISON COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine
Months Year Ended December 31
Ended ----------------------
9/30/98 1997 1996 1995
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(Millions, except for ratio)
Net income $ 318 $ 417 $ 328 $ 434
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Taxes based on income:
Current income taxes 216 308 224 221
Deferred taxes - net 24 (6) 16 79
Investment tax credit adjustments - net (11) (14) (15) (17)
Municipal and state 3 4 3 3
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Total taxes based on income 232 292 228 286
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Fixed charges:
Interest on long-term debt 192 262 275 275
Amortization of debt discount, premium
and expense 8 11 12 11
Other interest 8 9 4 10
Interest factor of rents 26 34 34 29
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Total fixed charges 234 316 325 325
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Earnings before taxes based on income
and fixed charges $ 784 $ 1,025 $ 881 $ 1,045
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Ratio of earnings to fixed charges 3.35 3.24 2.71 3.21