Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 111

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 111
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 offset by one-time costs resulting from the voluntary separation incentive program of $8 million in the prior year that did not repeat in 2025.

Taxes other than income increased $1 million and $6 million in the three and six months ended June 30, 2025, respectively.  The increase in the six-month period was primarily due to higher property taxes.

Other (Income) and Deductions increased $5 million and $9 million in the three and six months ended June 30, 2025, respectively.  The increase in the second quarter was primarily due to higher interest expense of $4 million.  The increase in the six-month period was primarily due to higher interest expense of $7 million and higher other expense of $2 million.

Income Tax Expense decreased $1 million and increased $13 million in the three and six months ended June 30, 2025, respectively.  The increase in the six-month period was primarily due to higher earnings.

Outlook — DTE Gas will continue to move forward in its efforts to achieve operational excellence, sustain strong cash flows, and earn its authorized return on equity.  DTE Gas expects that planned significant infrastructure capital investments will result in earnings growth.  Looking forward, additional factors may impact earnings such as weather and the outcome of regulatory proceedings.  DTE Gas expects to continue its efforts to improve productivity and decrease costs while improving customer satisfaction with consideration of customer rate affordability.

DTE VANTAGE SEGMENT

The DTE Vantage segment is comprised primarily of renewable energy projects that sell electricity and pipeline-quality gas and projects that deliver custom energy solutions to industrial, commercial, and institutional customers.  DTE Vantage results and outlook are discussed below:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In millions)Operating Revenues — Non-utility operations$169 $181 $357 $365 Operating ExpensesFuel, purchased power, and gas — non-utility82 92 179 192 Operation and maintenance70 75 130 133 Depreciation and amortization14 14 29 29 Taxes other than income4 3 9 6 Asset (gains) losses and impairments, net(1)— (2)(1)169 184 345 359 Operating Income (Loss)— (3)12 6 Other (Income) and Deductions(18)(44)(37)(43)Income TaxesExpense4