DETROIT, Oct. 24, 2014 /PRNewswire/ -- DTE Energy (NYSE:
DTE) today reported third quarter 2014 earnings of $156 million, or $0.88 per diluted share, compared with
$198 million, or $1.13 per diluted share in 2013.
Operating earnings for the third quarter 2014 were $181 million, or $1.02 per diluted share, compared with 2013
operating earnings of $198 million,
or $1.13 per diluted share. Operating
earnings exclude non-recurring items, certain mark-to-market
adjustments and discontinued operations. Reconciliations of
reported earnings to operating earnings are at the end of this news
release.
Reported earnings for the first nine months ended Sept. 30, 2014, were $606
million, or $3.42 per diluted
share, versus $537 million, or
$3.07 per diluted share, in 2013.
Year-to-date operating earnings were $609
million, or $3.44 per diluted
share, compared with $541 million, or
$3.09 per diluted share, in
2013.
"We are on track to achieve our financial and operational goals
for 2014," said Gerard M. Anderson,
DTE Energy chairman and CEO. "In September, we learned that
J.D. Power ranked DTE Energy 'Highest in Customer Satisfaction With
Residential Natural Gas Service in the Midwest Among Large
Utilities.1' We are gratified that our customers
recognized us in this study and we remain committed to our focus on
improving customer satisfaction.
"In our electric business, for the third year in a row, we
experienced double the normal number of days with wind speeds above
40 m.p.h.," Anderson continued. "This resulted in significant
stress on our system – including the 4th largest storm
outage event in our company's history. We intend to invest
significantly to strengthen, harden and automate our system to
address these trends and speed the restoration process for our
customers."
Noting that corporate citizenship is a factor in overall
customer satisfaction, Anderson added that the company released a
new Corporate Citizenship report in September.
"The document summarizes DTE's successes, challenges and
progress in its aspiration to be a force for growth and prosperity
in the communities where we live and serve," Anderson said. "I am
proud of the DTE employees who are working to make a difference in
many aspects of our customers' lives, both by the way we conduct
our daily business and by participating in a broad range of civic
organizations and community activities."
Also during the third quarter of 2014, DTE Energy's Echo Wind Park began commercial operation.
"DTE Energy is committed to provide 10 percent of its customers'
electricity needs from renewable energy sources by the end of
2015," Anderson said. "The commissioning of Echo Wind Park brings
us close to our goal with a renewable energy portfolio that is now
9.6 percent. We expect renewables and natural gas to play a
substantially expanded role in future electricity production.
Recently proposed EPA carbon regulations would lead to replacement
of a large portion of DTE's coal generation plants over the next
decade."
Anderson noted that DTE Energy is working with the EPA to
achieve significant environmental progress while also ensuring that
the state's electric supply remains reliable and affordable.
Outlook for 2014
DTE Energy narrowed and increased its 2014 operating earnings
guidance to $4.28 to $4.42 from
$4.20 to $4.40 per diluted share.
"We are on solid financial footing after nine months of the
year, despite third quarter weather that included cool temperatures
and a challenging number of severe storms," said Peter Oleksiak, DTE Energy senior vice president
and chief financial officer. "We are confident in raising operating
earnings guidance from a mid-point of $4.30
to $4.35 for 2014. Looking beyond 2014, we expect our
corporate focus on continuous improvement in all aspects of our
business to provide the platform upon which we will achieve future
financial objectives."
This earnings announcement, as well as a package of slides and
supplemental information, is available at
www.dteenergy.com/investors.
DTE Energy plans to conduct a conference call with the
investment community hosted by Oleksiak at 9
a.m. EDT today to discuss third quarter 2014 earnings
results. Investors, the news media and the public may listen to a
live internet broadcast of the call at www.dteenergy.com/investors.
The telephone dial-in numbers are U.S. and Canada toll free: (888) 778-8913 or
International toll: (913) 312-1466. The passcode is 8660012. The
internet broadcast will be archived on the company's website. An
audio replay of the call will be available from noon today to
Nov. 7. To access the replay, dial
U.S. and Canada toll free (888)
203-1112 or International toll (719) 457-0820 and enter passcode
5950191.
DTE Energy is a Detroit-based
diversified energy company involved in the development and
management of energy-related businesses and services nationwide.
Its operating units include an electric utility serving 2.1 million
customers in Southeastern Michigan
and a natural gas utility serving 1.2 million customers in
Michigan. The DTE Energy portfolio
also includes non-utility energy businesses focused on power and
industrial projects, natural gas pipelines, gathering and storage,
and energy marketing and trading. Information about DTE Energy is
available at dteenergy.com, twitter.com/dte_energy and
facebook.com/dteenergy.
1Disclaimer: DTE Energy received the
highest numerical score among large utilities in the Midwestern
U.S. in the proprietary J.D. Power 2014 Gas Utility Residential
Customer Satisfaction Study.SM Study based on
69,806 online interviews ranking 17 providers in the Midwestern
U.S. (CO, IL, IN, IA, KS, KY, MI, MN, MO, NB, OH, WI). Proprietary
study results are based on experiences and perceptions of consumers
surveyed September 2013-July 2014. Your experiences may vary. Visit
jdpower.com.
Use of Operating Earnings Information - DTE Energy management
believes that operating earnings provide a more meaningful
representation of the company's earnings from ongoing operations
and uses operating earnings as the primary performance measurement
for external communications with analysts and investors.
Internally, DTE Energy uses operating earnings to measure
performance against budget and to report to the Board of
Directors.
In this release, DTE Energy discusses 2014 operating earnings
guidance. It is likely that certain items that impact the company's
2014 reported results will be excluded from operating results.
Reconciliations to the comparable 2014 reported earnings guidance
are not provided because it is not possible to provide a reliable
forecast of specific line items. These items may fluctuate
significantly from period to period and may have a significant
impact on reported earnings.
The information contained herein is as of the date of this
release. DTE Energy expressly disclaims any current intention
to update any forward-looking statements contained in this release
as a result of new information or future events or
developments. Words such as "anticipate," "believe,"
"expect," "projected," "aspiration" and "goals" signify
forward-looking statements. Forward-looking statements are
not guarantees of future results and conditions but rather are
subject to various assumptions, risks and uncertainties. This
release contains forward-looking statements about DTE Energy's
financial results and estimates of future prospects, and actual
results may differ materially.
Many factors may impact forward-looking statements including,
but not limited to, the following: impact of regulation by the
FERC, MPSC, NRC, CFTC and other applicable governmental proceedings
and regulations, including any associated impact on rate
structures; the amount and timing of cost recovery allowed as a
result of regulatory proceedings, related appeals or new
legislation, including legislative amendments and Customer Choice
programs; economic conditions and population changes in our
geographic area resulting in changes in demand, customer
conservation and increased thefts of electricity and natural gas;
environmental issues, laws, regulations, and the increased costs of
remediation and compliance, including actual and potential new
federal and state requirements; health, safety, financial,
environmental and regulatory risks associated with ownership and
operation of nuclear facilities; changes in the cost and
availability of coal and other raw materials, purchased power and
natural gas; the potential for losses on investments, including
nuclear decommissioning and benefit plan assets and the related
increases in future expense and contributions; volatility in the
short-term natural gas storage markets impacting third-party
storage revenues; volatility in commodity markets, deviations in
weather and related risks impacting the results of our energy
trading operations; access to capital markets and the results of
other financing efforts which can be affected by credit agency
ratings; instability in capital markets which could impact
availability of short and long-term financing; the timing and
extent of changes in interest rates; the level of borrowings the
potential for increased costs or delays in completion of
significant construction projects; changes in and application of
federal, state and local tax laws and their interpretations,
including the Internal Revenue Code, regulations, rulings, court
proceedings and audits; the effects of weather and other natural
phenomena on operations and sales to customers, and purchases from
suppliers; unplanned outages; the cost of protecting assets
against, or damage due to, terrorism or cyber attacks; employee
relations and the impact of collective bargaining agreements; the
availability, cost, coverage and terms of insurance and stability
of insurance providers; cost reduction efforts and the maximization
of plant and distribution system performance; the effects of
competition; changes in and application of accounting standards and
financial reporting regulations; changes in federal or state laws
and their interpretation with respect to regulation, energy policy
and other business issues; contract disputes, binding arbitration,
litigation and related appeals; and the risks discussed in our
public filings with the Securities and Exchange Commission. New
factors emerge from time to time. We cannot predict what factors
may arise or how such factors may cause our results to differ
materially from those contained in any forward-looking statement.
Any forward-looking statements speak only as of the date on which
such statements are made. We undertake no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made or to reflect the
occurrence of unanticipated events. This release should also
be read in conjunction with the "Forward-Looking Statements"
sections in each of DTE Energy's and DTE Electric's 2013 Forms 10-K
and 2014 Forms 10-Q (which sections are incorporated herein by
reference), and in conjunction with other SEC reports filed by DTE
Energy and DTE Electric.
DTE Energy
Company
|
|
|
|
|
|
|
Consolidated
Statements of Operations (Unaudited)
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
September
30,
|
|
September
30,
|
|
2014
|
|
|
2013
|
|
|
2014
|
|
|
2013
|
|
|
(In millions,
except per share amounts)
|
Operating
Revenues
|
$
|
2,595
|
|
|
$
|
2,387
|
|
|
$
|
9,223
|
|
|
$
|
7,128
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
Fuel, purchased power
and gas
|
1,119
|
|
|
967
|
|
|
4,550
|
|
|
2,931
|
|
Operation and
maintenance
|
860
|
|
|
728
|
|
|
2,512
|
|
|
2,168
|
|
Depreciation,
depletion and amortization
|
293
|
|
|
284
|
|
|
855
|
|
|
811
|
|
Taxes other than
income
|
86
|
|
|
84
|
|
|
268
|
|
|
262
|
|
Asset (gains) and
losses, reserves and impairments, net
|
(2)
|
|
|
(5)
|
|
|
(10)
|
|
|
(6)
|
|
|
2,356
|
|
|
2,058
|
|
|
8,175
|
|
|
6,166
|
|
Operating
Income
|
239
|
|
|
329
|
|
|
1,048
|
|
|
962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other (Income) and
Deductions
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
107
|
|
|
106
|
|
|
323
|
|
|
327
|
|
Interest
income
|
(2)
|
|
|
(2)
|
|
|
(7)
|
|
|
(7)
|
|
Other
income
|
(55)
|
|
|
(58)
|
|
|
(136)
|
|
|
(148)
|
|
Other
expenses
|
11
|
|
|
7
|
|
|
29
|
|
|
23
|
|
|
61
|
|
|
53
|
|
|
209
|
|
|
195
|
|
Income Before
Income Taxes
|
178
|
|
|
276
|
|
|
839
|
|
|
767
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax
Expense
|
21
|
|
|
76
|
|
|
229
|
|
|
225
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Income
|
157
|
|
|
200
|
|
|
610
|
|
|
542
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Net Income
Attributable to Noncontrolling Interest
|
1
|
|
|
2
|
|
|
4
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
156
|
|
|
$
|
198
|
|
|
$
|
606
|
|
|
$
|
537
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic Earnings per
Common Share
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
0.88
|
|
|
$
|
1.13
|
|
|
$
|
3.42
|
|
|
$
|
3.07
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings
per Common Share
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
0.88
|
|
|
$
|
1.13
|
|
|
$
|
3.42
|
|
|
$
|
3.07
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average
Common Shares Outstanding
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
177
|
|
|
175
|
|
|
177
|
|
|
174
|
|
Diluted
|
177
|
|
|
176
|
|
|
177
|
|
|
175
|
|
Dividends Declared
per Common Share
|
$
|
0.69
|
|
|
$
|
0.66
|
|
|
$
|
2.00
|
|
|
$
|
1.93
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE Energy
Company
|
Segment Net Income
(Unaudited)
|
|
|
Three Months Ended
September 30,
|
|
2014
|
|
2013
|
(in
Millions)
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Electric
|
$
|
135
|
|
|
$
|
—
|
|
|
|
$
|
135
|
|
|
$
|
179
|
|
|
$
|
—
|
|
|
|
$
|
179
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
(16)
|
|
|
—
|
|
|
|
(16)
|
|
|
(13)
|
|
|
—
|
|
|
|
(13)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
20
|
|
|
—
|
|
|
|
20
|
|
|
16
|
|
|
—
|
|
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
38
|
|
|
—
|
|
|
|
38
|
|
|
27
|
|
|
—
|
|
|
|
27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
(22)
|
|
|
25
|
|
A
|
|
3
|
|
|
(6)
|
|
|
—
|
|
|
|
(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
36
|
|
|
25
|
|
|
|
61
|
|
|
37
|
|
|
—
|
|
|
|
37
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
1
|
|
|
—
|
|
|
|
1
|
|
|
(5)
|
|
|
—
|
|
|
|
(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
156
|
|
|
$
|
25
|
|
|
|
$
|
181
|
|
|
$
|
198
|
|
|
$
|
—
|
|
|
|
$
|
198
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments
key
|
A) Energy Trading
accounting timing of mark to market adjustment
|
DTE Energy
Company
|
Segment Diluted
Earnings Per Share (Unaudited)
|
|
|
|
|
Three Months Ended
September 30,
|
|
2014
|
|
2013
|
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Electric
|
$
|
0.76
|
|
|
$
|
—
|
|
|
|
$
|
0.76
|
|
|
$
|
1.02
|
|
|
$
|
—
|
|
|
|
$
|
1.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
(0.09)
|
|
|
—
|
|
|
|
(0.09)
|
|
|
(0.07)
|
|
|
—
|
|
|
|
(0.07)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
0.11
|
|
|
—
|
|
|
|
0.11
|
|
|
0.09
|
|
|
—
|
|
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
0.21
|
|
|
—
|
|
|
|
0.21
|
|
|
0.15
|
|
|
—
|
|
|
|
0.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
(0.12)
|
|
|
0.14
|
|
A
|
|
0.02
|
|
|
(0.03)
|
|
|
—
|
|
|
|
(0.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
0.20
|
|
|
0.14
|
|
|
|
0.34
|
|
|
0.21
|
|
|
—
|
|
|
|
0.21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
0.01
|
|
|
—
|
|
|
|
0.01
|
|
|
(0.03)
|
|
|
—
|
|
|
|
(0.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
0.88
|
|
|
$
|
0.14
|
|
|
|
$
|
1.02
|
|
|
$
|
1.13
|
|
|
$
|
—
|
|
|
|
$
|
1.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments
key
|
|
|
A) Energy Trading
accounting timing of mark to market adjustment
|
|
|
DTE Energy
Company
|
Segment Net Income
(Unaudited)
|
|
|
Nine Months Ended
September 30,
|
|
2014
|
|
2013
|
(in
Millions)
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Electric
|
$
|
400
|
|
|
$
|
—
|
|
|
|
$
|
400
|
|
|
$
|
383
|
|
|
$
|
—
|
|
|
|
$
|
383
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
109
|
|
|
—
|
|
|
|
109
|
|
|
91
|
|
|
—
|
|
|
|
91
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
59
|
|
|
—
|
|
|
|
59
|
|
|
49
|
|
|
—
|
|
|
|
49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
66
|
|
|
—
|
|
|
|
66
|
|
|
46
|
|
|
4
|
|
C
|
|
50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
6
|
|
|
(5)
|
|
A
|
|
1
|
|
|
(1)
|
|
|
—
|
|
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
131
|
|
|
(5)
|
|
|
|
126
|
|
|
94
|
|
|
4
|
|
|
|
98
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(34)
|
|
|
8
|
|
B
|
|
(26)
|
|
|
(31)
|
|
|
—
|
|
|
|
(31)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
606
|
|
|
$
|
3
|
|
|
|
$
|
609
|
|
|
$
|
537
|
|
|
$
|
4
|
|
|
|
$
|
541
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments
key
|
A) Energy Trading
accounting timing of mark to market adjustment
|
B) New York state tax
law change
|
C) Asset
impairment
|
DTE Energy
Company
|
Segment Diluted
Earnings Per Share (Unaudited)
|
|
|
|
|
Nine Months Ended
September 30,
|
|
2014
|
|
2013
|
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Adjustments
|
|
Operating
Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Electric
|
$
|
2.26
|
|
|
$
|
—
|
|
|
|
$
|
2.26
|
|
|
$
|
2.19
|
|
|
$
|
—
|
|
|
|
$
|
2.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
0.62
|
|
|
—
|
|
|
|
0.62
|
|
|
0.52
|
|
|
—
|
|
|
|
0.52
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
0.33
|
|
|
—
|
|
|
|
0.33
|
|
|
0.28
|
|
|
—
|
|
|
|
0.28
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
0.37
|
|
|
—
|
|
|
|
0.37
|
|
|
0.27
|
|
|
0.02
|
|
C
|
|
0.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
0.03
|
|
|
(0.02)
|
|
A
|
|
0.01
|
|
|
(0.01)
|
|
|
—
|
|
|
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
0.73
|
|
|
(0.02)
|
|
|
|
0.71
|
|
|
0.54
|
|
|
0.02
|
|
|
|
0.56
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(0.19)
|
|
|
0.04
|
|
B
|
|
(0.15)
|
|
|
(0.18)
|
|
|
—
|
|
|
|
(0.18)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
3.42
|
|
|
$
|
0.02
|
|
|
|
$
|
3.44
|
|
|
$
|
3.07
|
|
|
$
|
0.02
|
|
|
|
$
|
3.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments
key
|
|
|
A) Energy Trading
accounting timing of mark to market adjustment
|
|
|
B) New York state tax
law change
|
|
|
C) Asset
impairment
|
|
|
Logo -
http://photos.prnewswire.com/prnh/20140924/148236
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/dte-energy-reports-third-quarter-2014-results-increases-guidance-383425994.html
SOURCE DTE Energy