Company: DTK
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000936340-25-000065
Chunk: 106

Company: DTE ENERGY CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 106
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gas distribution system renewal;

•reducing carbon emissions at the electric and gas utilities;

•rate competitiveness and affordability;

•regulatory stability and investment recovery for the electric and gas utilities;

•strategic investments in growth projects at DTE Vantage;

•employee engagement, health, safety and wellbeing, and diversity, equity, and inclusion;

•cost structure optimization across all business segments; and

•cash, capital, and liquidity to maintain or improve financial strength.

DTE Energy will continue to pursue opportunities to grow its businesses in a disciplined manner if it can secure opportunities that meet its strategic, financial, and risk criteria.

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RESULTS OF OPERATIONS

The following sections provide a detailed discussion of the operating performance and future outlook of DTE Energy's segments.  Segment information, described below, includes intercompany revenues, expenses, and other income and deductions that are eliminated in the Consolidated Financial Statements.

202420232022(In millions)Net Income (Loss) Attributable to DTE EnergyElectric segment$1,072 $772 $956 Gas segment257 294 272 DTE Vantage segment135 153 92 Energy Trading segment125 336 (92)Corporate and Other(185)(158)(145)Net Income Attributable to DTE Energy Company$1,404 $1,397 $1,083 

ELECTRIC SEGMENT

The Results of Operations discussion for DTE Electric is presented in a reduced disclosure format in accordance with General Instruction I(2)(a) of Form 10-K for wholly-owned subsidiaries.

The Electric segment consists principally of DTE Electric.  Electric results and outlook are discussed below:

202420232022(In millions)Operating RevenuesUtility operations$6,277 $5,804 $6,397 Non-utility operations16 14 15 6,293 5,818 6,412 Operating ExpensesFuel and purchased power — utility1,605 1,481 1,978 Operation and maintenance1,439 1,417 1,564 Depreciation and amortization1,447 1,340 1,218 Taxes other than income353 339 339 Asset (gains) losses and impairments, net12 27 8 4,856 4,604 5,107 Operating Income1,437 1,214 1,305 Other (Income) and Deductions396 364 324