DTE ENERGY CO

For the period ended Mar 31, 2026. Filed Apr 30, 2026.

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, 2026 · Filed Apr 30, 2026

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

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

See the whole filing, with its images and exhibits

Contents

DTE Electric Consolidated Financial Statements (Unaudited)

Consolidated Statements of Operations (Unaudited)

	Three Months Ended March 31,
	2026	2025
(In millions)
Operating Revenues — Utility operations	$1,717	$1,454
Operating Expenses
Fuel and purchased power — utility	513	415
Operation and maintenance	396	343
Depreciation and amortization	400	378
Taxes other than income	103	94
Asset (gains) losses and impairments, net	2	—
	1,414	1,230
Operating Income	303	224
Other (Income) and Deductions
Interest expense	145	132
Interest income	(3)	(1)
Non-operating retirement benefits, net	(1)	(1)
Other income	(54)	(36)
Other expenses	18	12
	105	106
Income Before Income Taxes	198	118
Income Tax Benefit	(17)	(3)
Net Income	$215	$121

Consolidated Statements of Comprehensive Income (Unaudited)

	Three Months Ended March 31,
	2026	2025
(In millions)
Net Income	$215	$121
Other comprehensive income	—	—
Comprehensive Income	$215	$121

Consolidated Statements of Financial Position (Unaudited)

	March 31,	December 31,
	2026	2025
(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$80	$81
Restricted cash	40	42
Accounts receivable (less allowance for doubtful accounts of $41 for both periods)
Customer	884	805
Affiliates	2	2
Other	96	55
Inventories
Fuel	111	114
Materials and supplies	667	678
Notes receivable
Affiliates	228	—
Other	16	—
Regulatory assets	246	158
Other	169	116
	2,539	2,051
Investments
Nuclear decommissioning trust funds	2,599	2,552
Other	72	72
	2,671	2,624
Property
Property, plant, and equipment	34,653	33,807
Accumulated depreciation and amortization	(8,399)	(8,239)
	26,254	25,568
Other Assets
Regulatory assets	6,974	6,821
Securitized regulatory assets	601	619
Prepaid postretirement costs — affiliates	479	463
Operating lease right-of-use assets	232	237
Other	604	607
	8,890	8,747
Total Assets	$40,354	$38,990

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

	March 31,	December 31,
	2026	2025
(In millions, except shares)
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Accounts payable
Affiliates	$120	$71
Other	942	839
Accrued interest	165	135
Current portion long-term debt, including securitization bonds and finance leases	755	754
Regulatory liabilities	50	63
Short-term borrowings
Other	—	652
Operating lease liabilities	28	27
Other	214	228
	2,274	2,769
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	13,436	11,852
Securitization bonds	545	561
Finance lease liabilities	3	6
	13,984	12,419
Other Liabilities
Deferred income taxes	3,813	3,812
Regulatory liabilities	1,876	1,798
Asset retirement obligations	4,281	4,217
Unamortized investment tax credit	505	402
Nuclear decommissioning	412	405
Accrued pension liability — affiliates	242	245
Accrued postretirement liability — affiliates	229	237
Operating lease liabilities	201	206
Other	143	66
	11,702	11,388
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)	8,949	8,949
Retained earnings	3,445	3,465
Total Shareholder’s Equity	12,394	12,414
Total Liabilities and Shareholder’s Equity	$40,354	$38,990

Consolidated Statements of Cash Flows (Unaudited)

	Three Months Ended March 31,
	2026	2025
(In millions)
Operating Activities
Net Income	$215	$121
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	400	378
Nuclear fuel amortization	13	17
Allowance for equity funds used during construction	(34)	(24)
Deferred income taxes	(26)	(19)
Asset (gains) losses and impairments, net	2	—
Changes in assets and liabilities:
Accounts receivable, net	(127)	(19)
Inventories	14	25
Accounts payable	111	14
Prepaid postretirement benefit costs — affiliates	(16)	(14)
Accrued pension liability — affiliates	(3)	(4)
Accrued postretirement liability — affiliates	(8)	(7)
Regulatory assets and liabilities	65	88
Other current and noncurrent assets and liabilities	24	(45)
Net cash from operating activities	630	511
Investing Activities
Plant and equipment expenditures	(1,049)	(732)
Proceeds from sale of nuclear decommissioning trust fund assets	213	139
Investment in nuclear decommissioning trust funds	(215)	(142)
Investment in notes receivable	(14)	(33)
Notes receivable to (from) affiliates	(228)	42
Other	(7)	(13)
Net cash used for investing activities	(1,300)	(739)
Financing Activities
Issuance of long-term debt, net of discount and issuance costs	1,582	—
Redemption of long-term debt	(16)	(365)
Short-term borrowings, net — affiliates	—	960
Short-term borrowings, net — other	(652)	(153)
Dividends paid on common stock	(235)	(211)
Other	(12)	(11)
Net cash from financing activities	667	220
Net Decrease in Cash, Cash Equivalents, and Restricted Cash	(3)	(8)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	123	59
Cash, Cash Equivalents, and Restricted Cash at End of Period	$120	$51
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	$525	$300

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, 2025	138,632	$1,386	$7,563	$3,465	$12,414
Net Income	—	—	—	215	215
Dividends declared on common stock	—	—	—	(235)	(235)
Balance, March 31, 2026	138,632	$1,386	$7,563	$3,445	$12,394

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

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.