EX-12.81 2 a20171231ex1281.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DTE ENERGY Exhibit


Exhibit 12.81

DTE Energy Company
Computation of Ratio of Earnings to Fixed Charges
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
 
(In millions)
Earnings:
 
 
 
 
 
 
 
 
 
Pretax earnings
$
1,287

 
$
1,105

 
$
950

 
$
1,275

 
$
922

Adjustments to earnings(a)
(19
)
 
23

 
(3
)
 
(15
)
 
(26
)
Fixed charges
561

 
493

 
473

 
453

 
461

Net earnings
$
1,829

 
$
1,621

 
$
1,420

 
$
1,713

 
$
1,357

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
   Interest expense(b)
$
531

 
$
468

 
$
446

 
$
424

 
$
432

Adjustments to fixed charges(c)
30

 
25

 
27

 
29

 
29

Fixed charges
$
561

 
$
493

 
$
473

 
$
453

 
$
461

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.26

 
3.29

 
3.00

 
3.78

 
2.94

_______________________________________
(a)
Adjustments include the removal of the impact of earnings from non-consolidated entities and the inclusion of capitalized interest costs.
(b)
Includes interest on uncertain tax positions.
(c)
Adjustments include the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest element can be determined and capitalized interest costs.