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This paper deals with the computation of eddy-current losses in laminated cores. In the first part we recall some approximate formulas existing in the literature and implemented in many electromagnetic computer packages. Then we assess their accuracy by making comparisons with the exact loss values obtained by numerical solution of the quasi-static Maxwell equations. In the second part we introduce a definition of an equivalent electric conductivity allowing us to replace the laminated core with a homogeneous isotropic or anisotropic medium. We compare the values of this equivalent conductivity with those obtained from some approximate formulas.