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EXHIBIT 12-15
THE DETROIT EDISON COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31
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1998 1997 1996
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(Millions, except for ratio)
Net income................................... $ 418 $ 417 $ 328
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Taxes based on income:
Current income taxes...................... 280 308 224
Deferred taxes - net...................... (5) (6) 16
Investment tax credit adjustments - net... (15) (14) (15)
Municipal and state....................... 3 4 3
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Total taxes based on income............. 263 292 228
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Fixed charges:
Interest on long-term debt................ 254 262 275
Amortization of debt discount, premium
and expense............................. 11 11 12
Other interest............................ 13 9 4
Interest factor of rents.................. 34 34 34
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Total fixed charges..................... 312 316 325
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Earnings before taxes based on income
and fixed charges......................... $ 993 $ 1,025 $ 881
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Ratio of earnings to fixed charges........... 3.18 3.24 2.71