DTE ENERGY CO

For the period ended Jun 30, 2026. Filed Jul 28, 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.

Jun 30, 2026 · Filed Jul 28, 2026

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 June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
(In millions)
Operating Revenues — Utility operations	$1,751	$1,682	$3,468	$3,136
Operating Expenses
Fuel and purchased power — utility	483	437	996	852
Operation and maintenance	395	369	791	712
Depreciation and amortization	414	376	814	754
Taxes other than income	99	88	202	182
Asset (gains) losses and impairments, net	—	—	2	—
	1,391	1,270	2,805	2,500
Operating Income	360	412	663	636
Other (Income) and Deductions
Interest expense	157	137	302	269
Interest income	(4)	(2)	(7)	(3)
Non-operating retirement benefits, net	(2)	(2)	(3)	(3)
Other income	(59)	(42)	(113)	(78)
Other expenses	14	14	32	26
	106	105	211	211
Income Before Income Taxes	254	307	452	425
Income Tax Benefit	(12)	(11)	(29)	(14)
Net Income	$266	$318	$481	$439

Consolidated Statements of Comprehensive Income (Unaudited)

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
(In millions)
Net Income	$266	$318	$481	$439
Other comprehensive income	—	—	—	—
Comprehensive Income	$266	$318	$481	$439

Consolidated Statements of Financial Position (Unaudited)

	June 30,	December 31,
	2026	2025
(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$5	$81
Restricted cash	42	42
Accounts receivable (less allowance for doubtful accounts of $46 and $41, respectively)
Customer	919	805
Affiliates	2	2
Other	159	55
Inventories
Fuel	133	114
Materials and supplies	663	678
Notes receivable
Other	16	—
Regulatory assets	223	158
Other	110	116
	2,272	2,051
Investments
Nuclear decommissioning trust funds	2,756	2,552
Other	78	72
	2,834	2,624
Property
Property, plant, and equipment	35,610	33,807
Accumulated depreciation and amortization	(8,428)	(8,239)
	27,182	25,568
Other Assets
Regulatory assets	7,051	6,821
Securitized regulatory assets	582	619
Prepaid postretirement costs — affiliates	492	463
Operating lease right-of-use assets	228	237
Other	617	607
	8,970	8,747
Total Assets	$41,258	$38,990

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

	June 30,	December 31,
	2026	2025
(In millions, except shares)
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Accounts payable
Affiliates	$94	$71
Other	985	839
Accrued interest	163	135
Current portion long-term debt, including securitization bonds and finance leases	937	754
Regulatory liabilities	30	63
Short-term borrowings
Affiliates	783	—
Other	—	652
Operating lease liabilities	29	27
Other	222	228
	3,243	2,769
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	13,138	11,852
Securitization bonds	542	561
Finance lease liabilities	3	6
	13,683	12,419
Other Liabilities
Deferred income taxes	3,830	3,812
Regulatory liabilities	1,874	1,798
Asset retirement obligations	4,451	4,217
Unamortized investment tax credit	501	402
Nuclear decommissioning	440	405
Accrued pension liability — affiliates	238	245
Accrued postretirement liability — affiliates	232	237
Operating lease liabilities	195	206
Other	145	66
	11,906	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	3,477	3,465
Total Shareholder’s Equity	12,426	12,414
Total Liabilities and Shareholder’s Equity	$41,258	$38,990

Consolidated Statements of Cash Flows (Unaudited)

	Six Months Ended June 30,
	2026	2025
(In millions)
Operating Activities
Net Income	$481	$439
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	814	754
Nuclear fuel amortization	19	33
Allowance for equity funds used during construction	(68)	(46)
Deferred income taxes	(35)	(27)
Asset (gains) losses and impairments, net	2	—
Changes in assets and liabilities:
Accounts receivable, net	(226)	(149)
Inventories	(4)	(76)
Accounts payable	103	87
Prepaid postretirement benefit costs — affiliates	(29)	(26)
Accrued pension liability — affiliates	(7)	(7)
Accrued postretirement liability — affiliates	(5)	(4)
Regulatory assets and liabilities	207	109
Other current and noncurrent assets and liabilities	(45)	(56)
Net cash from operating activities	1,207	1,031
Investing Activities
Plant and equipment expenditures	(2,343)	(1,535)
Proceeds from sale of nuclear decommissioning trust fund assets	475	371
Investment in nuclear decommissioning trust funds	(477)	(373)
Investment in notes receivable	(14)	(39)
Notes receivable to (from) affiliates	—	42
Other	(18)	(30)
Net cash used for investing activities	(2,377)	(1,564)
Financing Activities
Issuance of long-term debt, net of discount and issuance costs	1,581	1,291
Redemption of long-term debt	(137)	(385)
Short-term borrowings, net — affiliates	783	120
Short-term borrowings, net — other	(652)	(69)
Dividends paid on common stock	(469)	(423)
Other	(12)	(11)
Net cash from financing activities	1,094	523
Net Decrease in Cash, Cash Equivalents, and Restricted Cash	(76)	(10)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	123	59
Cash, Cash Equivalents, and Restricted Cash at End of Period	$47	$49
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	$550	$313

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
Net Income	—	—	—	266	266
Dividends declared on common stock	—	—	—	(234)	(234)
Balance, June 30, 2026	138,632	$1,386	$7,563	$3,477	$12,426

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
Net Income	—	—	—	318	318
Dividends declared on common stock	—	—	—	(212)	(212)
Balance, June 30, 2025	138,632	$1,386	$6,609	$3,175	$11,170

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