Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 62

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 was subsequently reduced to $416 million.  On February 27, 2025, the MPSC issued an order approving recovery of $387 million of these costs resulting in a disallowance of approximately $33 million, inclusive of interest.  The disallowance was included in Operating Revenues – Utility operations and Interest expense on the Consolidated Statements of Operation in the first quarter of 2025.2025 Electric Rate Case FilingDTE Electric filed a rate case with the MPSC on April 24, 2025 requesting an increase in base rates of $574 million based on a projected twelve-month period ending December 31, 2026, and an increase in return on equity from 9.9% to 10.75%.  The requested increase in base rates was primarily due to capital investments required to support continued reliability improvements and the ongoing transition to cleaner energy.  A final MPSC order in this case is expected in February 2026.

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Table of ContentsDTE Energy Company — DTE Electric CompanyCombined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 6 — EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income, adjusted for income allocated to participating securities, by the weighted average number of common shares outstanding during the period.  Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares.  DTE Energy’s participating securities are restricted shares under the stock incentive program that contain rights to receive non-forfeitable dividends.  Performance shares do not receive cash dividends; as such, these awards are not considered participating securities.The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In millions, except per share amounts)Basic Earnings per ShareNet Income Attributable to DTE Energy Company$229 $322 $674 $635 Less: Allocation of earnings to net restricted stock awards1 — 2 1 Net income available to common shareholders — basic$228 $322 $672 $634 Average number of common shares outstanding — basic207 207 207 206 Basic Earnings per Common Share$1.10 $1.56 $3.25 $3.07 Diluted Earnings per ShareNet Income Attrib