Continuing operations

[Table of Contents](#ie1b09d57e49a40aaa81f572e6311eac9_10)DTE Energy CompanyConsolidated Statements of Operations (Unaudited)  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  | Three Months Ended March 31, |
|  |  |  |  |  | 2022 |  | 2021 |
|  |  |  |  |  | (In millions, except per share amounts) |
| Operating Revenues |  |  |  |  |  |  |  |
| Utility operations |  |  |  |  | $ | 2,234  |  |  | $ | 1,953  |  |
| Non-utility operations |  |  |  |  | 2,343  |  |  | 1,628  |  |
|  |  |  |  |  | 4,577  |  |  | 3,581  |  |
| Operating Expenses |  |  |  |  |  |  |  |
| Fuel, purchased power, and gas — utility |  |  |  |  | 700  |  |  | 544  |  |
| Fuel, purchased power, gas, and other — non-utility |  |  |  |  | 2,242  |  |  | 1,595  |  |
| Operation and maintenance |  |  |  |  | 596  |  |  | 567  |  |
| Depreciation and amortization |  |  |  |  | 358  |  |  | 327  |  |
| Taxes other than income |  |  |  |  | 123  |  |  | 115  |  |
|  |  |  |  |  |  |  |  |
|  |  |  |  |  | 4,019  |  |  | 3,148  |  |
| Operating Income |  |  |  |  | 558  |  |  | 433  |  |
|  |  |  |  |  |  |  |  |
| Other (Income) and Deductions |  |  |  |  |  |  |  |
| Interest expense |  |  |  |  | 154  |  |  | 155  |  |
| Interest income |  |  |  |  | (8) |  |  | (4) |  |
| Non-operating retirement benefits, net |  |  |  |  | (3) |  |  | 4  |  |
|  |  |  |  |  |  |  |  |
| Other income |  |  |  |  | (8) |  |  | (43) |  |
| Other expenses |  |  |  |  | 13  |  |  | 10  |  |
|  |  |  |  |  | 148  |  |  | 122  |  |
| Income Before Income Taxes |  |  |  |  | 410  |  |  | 311  |  |
|  |  |  |  |  |  |  |  |
| Income Tax Expense (Benefit) (Note 2) |  |  |  |  | 16  |  |  | (6) |  |
|  |  |  |  |  |  |  |  |
| Net Income from Continuing Operations |  |  |  |  | 394  |  |  | 317  |  |
| Net Income from Discontinued Operations, Net of Taxes (Note 4) |  |  |  |  | —  |  |  | 80  |  |
| Net Income |  |  |  |  | 394  |  |  | 397  |  |
|  |  |  |  |  |  |  |  |
| Less: Net Income (Loss) Attributable to Noncontrolling Interests |  |  |  |  |  |  |  |
| Continuing operations |  |  |  |  | —  |  |  | (3) |  |
| Discontinued operations |  |  |  |  | —  |  |  | 3  |  |
| Net Income Attributable to DTE Energy Company |  |  |  |  | $ | 394  |  |  | $ | 397  |  |
|  |  |  |  |  |  |  |  |
| Basic Earnings per Common Share |  |  |  |  |  |  |  |
| Continuing operations |  |  |  |  | 2.03  |  |  | 1.65  |  |
| Discontinued operations |  |  |  |  | —  |  |  | 0.40  |  |
| Total |  |  |  |  | $ | 2.03  |  |  | $ | 2.05  |  |
|  |  |  |  |  |  |  |  |
| Diluted Earnings per Common Share |  |  |  |  |  |  |  |
| Continuing operations |  |  |  |  | 2.03  |  |  | 1.65  |  |
| Discontinued operations |  |  |  |  | —  |  |  | 0.40  |  |
| Total |  |  |  |  | $ | 2.03  |  |  | $ | 2.05  |  |
|  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding |  |  |  |  |  |  |  |
| Basic |  |  |  |  | 193  |  |  | 194  |  |
| Diluted |  |  |  |  | 194  |  |  | 194  |  |

  
See Combined Notes to Consolidated Financial Statements (Unaudited)5
