DTE ENERGY CO

For the period ended Mar 31, 2025. Filed May 1, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 1, 2025

DTE$138.99+0.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

DTE Electric Consolidated Financial Statements (Unaudited)

Consolidated Statements of Operations (Unaudited)

	Three Months Ended March 31,
	2025	2024
(In millions)
Operating Revenues — Utility operations	$1,454	$1,466
Operating Expenses
Fuel and purchased power — utility	415	370
Operation and maintenance	343	380
Depreciation and amortization	378	350
Taxes other than income	94	84
	1,230	1,184
Operating Income	224	282
Other (Income) and Deductions
Interest expense	132	117
Interest income	(1)	(2)
Non-operating retirement benefits, net	(1)	2
Other income	(36)	(32)
Other expenses	12	9
	106	94
Income Before Income Taxes	118	188
Income Tax Expense (Benefit)	(3)	18
Net Income	$121	$170

Consolidated Statements of Comprehensive Income (Unaudited)

	Three Months Ended March 31,
	2025	2024
(In millions)
Net Income	$121	$170
Other comprehensive income	—	—
Comprehensive Income	$121	$170

Consolidated Statements of Financial Position (Unaudited)

	March 31,	December 31,
	2025	2024
(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$9	$11
Restricted cash	42	48
Accounts receivable (less allowance for doubtful accounts of $43 and $46, respectively)
Customer	741	734
Affiliates	2	6
Other	74	58
Inventories
Fuel	121	193
Materials and supplies	584	537
Notes receivable
Affiliates	—	42
Regulatory assets	30	39
Prepaid property tax	115	67
Other	25	34
	1,743	1,769
Investments
Nuclear decommissioning trust funds	2,246	2,256
Other	66	67
	2,312	2,323
Property
Property, plant, and equipment	31,225	30,801
Accumulated depreciation and amortization	(7,688)	(7,404)
	23,537	23,397
Other Assets
Regulatory assets	6,598	6,187
Securitized regulatory assets	673	690
Prepaid postretirement costs — affiliates	442	428
Operating lease right-of-use assets	181	159
Other	307	268
	8,201	7,732
Total Assets	$35,793	$35,221

Consolidated Statements of Financial Position (Unaudited) — (Continued)

	March 31,	December 31,
	2025	2024
(In millions, except shares)
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Accounts payable
Affiliates	$98	$64
Other	592	681
Accrued interest	123	128
Current portion long-term debt, including securitization bonds and finance leases	75	425
Regulatory liabilities	121	156
Short-term borrowings
Affiliates	960	—
Other	513	666
Operating lease liabilities	19	18
Other	187	204
	2,688	2,342
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	10,827	10,825
Securitization bonds	619	635
Finance lease liabilities	6	8
	11,452	11,468
Other Liabilities
Deferred income taxes	3,380	3,393
Regulatory liabilities	1,884	1,753
Asset retirement obligations	3,876	3,791
Unamortized investment tax credit	404	269
Nuclear decommissioning	351	353
Accrued pension liability — affiliates	244	248
Accrued postretirement liability — affiliates	218	225
Operating lease liabilities	158	142
Other	74	83
	10,589	10,257
Commitments and Contingencies (Notes 5 and 12)
Shareholder’s Equity
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods)	7,995	7,995
Retained earnings	3,069	3,159
Total Shareholder’s Equity	11,064	11,154
Total Liabilities and Shareholder’s Equity	$35,793	$35,221

Consolidated Statements of Cash Flows (Unaudited)

	Three Months Ended March 31,
	2025	2024
(In millions)
Operating Activities
Net Income	$121	$170
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	378	350
Nuclear fuel amortization	17	12
Allowance for equity funds used during construction	(24)	(18)
Deferred income taxes	(19)	18
Changes in assets and liabilities:
Accounts receivable, net	(19)	7
Inventories	25	(32)
Accounts payable	14	59
Prepaid postretirement benefit costs — affiliates	(14)	(10)
Accrued pension liability — affiliates	(4)	(13)
Accrued postretirement liability — affiliates	(7)	(8)
Regulatory assets and liabilities	88	127
Other current and noncurrent assets and liabilities	(45)	(84)
Net cash from operating activities	511	578
Investing Activities
Plant and equipment expenditures	(732)	(868)
Proceeds from sale of nuclear decommissioning trust fund assets	139	108
Investment in nuclear decommissioning trust funds	(142)	(110)
Other	(4)	(12)
Net cash used for investing activities	(739)	(882)
Financing Activities
Issuance of long-term debt, net of discount and issuance costs	—	993
Redemption of long-term debt	(365)	(100)
Short-term borrowings, net — affiliates	960	—
Short-term borrowings, net — other	(153)	(175)
Dividends paid on common stock	(211)	(194)
Other	(11)	(12)
Net cash from financing activities	220	512
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	(8)	208
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	59	32
Cash, Cash Equivalents, and Restricted Cash at End of Period	$51	$240
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	$300	$328

Consolidated Statements of Changes in Shareholder's Equity (Unaudited)

Additional Paid-in Capital · Retained Earnings
	Common Stock
Shares · Amount · Total
(Dollars in millions, shares in thousands)
Balance, December 31, 2024	138,632	$1,386	$6,609	$3,159	$11,154
Net Income	—	—	—	121	121
Dividends declared on common stock	—	—	—	(211)	(211)
Balance, March 31, 2025	138,632	$1,386	$6,609	$3,069	$11,064

Additional Paid-in Capital · Retained Earnings
	Common Stock
Shares · Amount · Total
(Dollars in millions, shares in thousands)
Balance, December 31, 2023	138,632	$1,386	$5,975	$2,863	$10,224
Net Income	—	—	—	170	170
Dividends declared on common stock	—	—	—	(194)	(194)
Balance, March 31, 2024	138,632	$1,386	$5,975	$2,839	$10,200

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.