Company: DTK
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000936340-25-000065
Chunk: 109

Company: DTE ENERGY CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 109
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 corporate support costs of $55 million, and lower legal expense of $14 million.  These decreases were partially offset by higher distribution operations expense of $99 million, which was primarily due to higher storm restoration costs.

Depreciation and amortization expense increased $107 million in 2024 and $122 million in 2023.  In 2024, the increase was primarily due to a $103 million increase from a higher depreciable base.  In 2023, the increase was primarily due to a $113 million increase from a higher depreciable base and an increase of $10 million associated with the TRM.

Taxes other than income increased $14 million 2024 and had no change in 2023.  The increase in 2024 was primarily due to higher property taxes.

Asset (gains) losses and impairments, net decreased $15 million in 2024 and increased $19 million in 2023.  The change in both periods was primarily due to MPSC disallowances of previously recorded capital expenditures, including $12 million from the January 2025 rate order written off in 2024 and $25 million from the December 2023 rate order written off in 2023.

Other (Income) and Deductions increased $32 million in 2024 and $40 million in 2023.  The increase in 2024 was primarily due to higher net interest expense of $79 million, partially offset by higher AFUDC equity of $44 million and lower non-operating retirement benefits of $7 million.  The increase in 2023 was primarily due to higher net interest expense of $48 million and higher non-operating retirement benefits expense of $26 million, partially offset by a favorable change in investment earnings of $19 million and higher AFUDC equity of $14 million.

Income Tax Expense (Benefit) changed $109 million in 2024 and increased $53 million in 2023.  The change in 2024 was primarily due to an increase in tax credits, partially offset by higher earnings.  The increase in 2023 was primarily due to lower amortization of the TCJA regulatory liability, partially offset by lower earnings.

34

Outlook — DTE Electric will continue to move forward in its efforts to achieve operational excellence, sustain strong cash flows, and earn its authorized return on equity.  DTE Electric expects that planned significant capital investments will result in earnings growth.  DTE Electric will maintain a strong focus on customers