Company: DTK
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000936340-25-000065
Chunk: 111

Company: DTE ENERGY CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 111
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 increased $15 million in 2024 and decreased $163 million in 2023.  The increase in 2024 was primarily due to higher cost of gas of $40 million, partially offset by lower sales volumes of $25 million.  The decrease in 2023 was primarily due to a lower cost of gas of $92 million and lower sales volumes of $71 million.

Operation and maintenance expense increased $47 million in 2024 and decreased $64 million in 2023.  The increase in 2024 was primarily due to higher gas operations expenses of $24 million, one-time costs resulting from the voluntary separation incentive program of $8 million, higher uncollectible expense of $6 million, higher benefits and other compensation expense of $3 million, higher EWR expense of $3 million, and higher corporate support costs of $3 million.  The decrease in 2023 was primarily due to lower gas operations expense of $36 million, lower corporate support costs of $24 million, and lower benefits and other compensation expense of $7 million, partially offset by higher legal expense of $3 million.

Depreciation and amortization expense increased $12 million in 2024 and $17 million in 2023.  The increase in both periods was primarily due to a higher depreciable base.

Taxes other than income increased $10 million in 2024 and $7 million in 2023.  The increase in both periods was primarily due to higher property taxes.

Asset (gains) losses and impairments, net increased $6 million in 2024 and had no change in 2023.  The increase in 2024 was primarily due to the write-off of capital expenditures, of which $3 million was disallowed by the MPSC in the November 2024 rate order.

Other (Income) and Deductions increased $13 million in 2024 and had no change in 2023.  The increase in 2024 was primarily due to higher net interest expense of $14 million.

Income Tax Expense decreased $16 million in 2024 and increased $5 million in 2023.  The decrease in 2024 was primarily due to lower earnings.  The increase in 2023 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