$DTB

DTE ENERGY CO

CIK:0000936340|SEC Filings

Consolidated Statements of Operations (Unaudited) - DTE Energy Company - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating Revenues
Utility operations	$ 2,044	$ 1,979	$ 4,667	$ 4,286
Non-utility operations	1,325	1,440	3,843	3,573
Operating Revenues	3,369	3,419	8,510	7,859
Operating Expenses
Fuel, purchased power, and gas — utility	477	434	1,311	1,129
Fuel, purchased power, gas, and other — non-utility	1,143	1,385	3,671	3,342
Operation and maintenance	651	596	1,384	1,171
Depreciation and amortization	498	451	981	903
Taxes other than income	141	127	290	265
Asset (gains) losses and impairments, net	1	(1)	3	(2)
Operating Expenses	2,911	2,992	7,640	6,808
Operating Income	458	427	870	1,051
Other (Income) and Deductions
Interest expense	301	256	594	506
Interest income	(33)	(25)	(64)	(48)
Other income	(66)	(49)	(125)	(93)
Other expenses	15	15	35	29
Other (Income) and Deductions	217	197	440	394
Income Before Income Taxes	241	230	430	657
Income Tax Expense (Benefit)	(41)	1	(99)	(17)
Net Income Attributable to DTE Energy Company/DTE Electric Company	$ 282	$ 229	$ 529	$ 674
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company (in dollars per share)	$ 1.35	$ 1.10	$ 2.54	$ 3.25
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company (in dollars per share)	$ 1.35	$ 1.10	$ 2.53	$ 3.24
Weighted Average Common Shares Outstanding
Basic (in shares)	208	207	208	207
Diluted (in shares)	208	207	208	207

Consolidated Statements of Cash Flows (Unaudited) - DTE Energy Company - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net Income	$ 529	$ 674
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	981	903
Nuclear fuel amortization	19	33
Allowance for equity funds used during construction	(70)	(46)
Deferred income taxes	(96)	(23)
Equity (earnings) of equity method investees	(7)	(11)
Dividends from equity method investees	0	1
Asset (gains) losses and impairments, net	3	(2)
Changes in assets and liabilities:
Accounts receivable, net	191	68
Inventories	23	(125)
Prepaid postretirement benefit costs	(47)	(45)
Accounts payable	(154)	37
Gas inventory equalization	43	49
Accrued pension liability	(18)	(18)
Accrued postretirement liability	(5)	(4)
Derivative assets and liabilities	13	29
Regulatory assets and liabilities	198	143
Other current and noncurrent assets and liabilities	76	66
Net cash from operating activities	1,679	1,729
Investing Activities
Plant and equipment expenditures — utility	(2,688)	(1,811)
Plant and equipment expenditures — non-utility	(33)	(33)
Proceeds from sale of assets	0	5
Proceeds from sale of nuclear decommissioning trust fund assets	475	371
Investment in nuclear decommissioning trust funds	(477)	(373)
Distributions from equity method investees	5	7
Investment in notes receivable	(127)	(167)
Principal collections on notes receivable	16	10
Other	(85)	(31)
Net cash used for investing activities	(2,914)	(2,022)
Financing Activities
Issuance of long-term debt, net of discount and issuance costs	2,571	2,383
Redemption of long-term debt	(137)	(1,185)
Short-term borrowings, net	(882)	(470)
Dividends paid on common stock	(467)	(435)
Other	(16)	(4)
Net cash from financing activities	1,069	289
Net Decrease in Cash, Cash Equivalents, and Restricted Cash	(166)	(4)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	250	88
Cash, Cash Equivalents, and Restricted Cash at End of Period	84	84
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	$ 647	$ 404

Consolidated Statements of Financial Position (Unaudited) - DTE Energy Company - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 42	$ 208
Restricted cash	42	42
Accounts receivable (less allowance for doubtful accounts of $81 and $60, respectively)
Customer	1,683	2,031
Other	267	118
Inventories
Fuel and gas	296	381
Materials, supplies, and other	1,056	994
Derivative assets	185	143
Regulatory assets	239	170
Other	240	261
Total Current Assets	4,050	4,348
Investments
Nuclear decommissioning trust funds	2,756	2,552
Investments in equity method investees	112	122
Other	206	194
Total Investments	3,074	2,868
Property
Property, plant, and equipment	46,757	44,623
Accumulated depreciation and amortization	(11,261)	(10,970)
Total Property	35,496	33,653
Other Assets
Goodwill	1,993	1,993
Regulatory assets	7,593	7,380
Securitized regulatory assets	582	619
Intangible assets	177	188
Notes receivable	1,575	1,455
Derivative assets	90	89
Prepaid postretirement costs	808	761
Operating lease right-of-use assets	260	271
Other	536	441
Total Other Assets	13,614	13,197
Total Assets	56,234	54,066
Current Liabilities
Accounts payable	1,697	1,753
Accrued interest	300	273
Dividends payable	485	242
Short-term borrowings	0	882
Current portion long-term debt, including securitization bonds and finance leases	1,689	1,356
Derivative liabilities	157	86
Gas inventory equalization	43	0
Regulatory liabilities	33	107
Operating lease liabilities	34	32
Other	611	678
Total Current Liabilities	5,049	5,409
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	22,878	21,736
Securitization bonds	542	561
Junior subordinated debentures	2,464	1,474
Finance lease liabilities	11	14
Total Long-Term Debt (net of current portion)	25,895	23,785
Other Liabilities
Deferred income taxes	3,367	3,400
Regulatory liabilities	2,962	2,881
Asset retirement obligations	4,710	4,469
Unamortized investment tax credit	501	402
Derivative liabilities	51	66
Accrued pension liability	217	235
Accrued postretirement liability	242	247
Nuclear decommissioning	440	405
Operating lease liabilities	222	235
Other	424	224
Total Other Liabilities	13,136	12,564
Commitments and Contingencies (Notes 5 and 12)
Equity
Common stock (No par value, 400,000,000 shares authorized, and 208,088,069 and 207,745,154 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively)	6,898	6,858
Retained earnings	5,283	5,484
Accumulated other comprehensive loss	(32)	(39)
Total DTE Energy/DTE Electric Company Equity	12,149	12,303
Noncontrolling interests	5	5
Total Equity	12,154	12,308
Total Liabilities and Equity	$ 56,234	$ 54,066