DTE Energy Company reported financial results for the first quarter of 2000. Operating revenues increased 15.4% to $1.182 billion due to a 48.9% rise in fuel and purchased power costs. Net income rose 1.7% to $117 million. Earnings per share increased 2.6% to $0.81, or $0.84 excluding merger costs. Detroit Edison, DTE Energy's regulated utility, saw operating revenues increase 4.1% but net income fell 7.2% due to higher fuel expenses. Non-regulated subsidiaries contributed significantly to earnings growth through new projects and trading gains.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
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Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
when will pi network coin be available on crypto exchange.DOT TECH
Â
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Â
Pi coins is not launched yet in any exchange đź’± this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAYÂ you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
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Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Introduction to Indian Financial System ()Avanish Goel
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The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
where can I find a legit pi merchant onlineDOT TECH
Â
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
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The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
The European Unemployment Puzzle: implications from population agingGRAPE
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We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
what is the future of Pi Network currency.DOT TECH
Â
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Â
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Scope Of Macroeconomics introduction and basic theories
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dte_1q2000
1. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED STATEMENT OF INCOME (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Expect Per Share Amounts)
3 Months - March 2000 After Tax
2000 1999 % Change $ Change EPS Impact *
Operating Revenues $1,182 $1,024 15.4% $158 $0.71
Operating Expenses
Fuel & Purchased power 344 231 48.9% 113 ($0.51)
Operation and maintenance 355 325 9.2% 30 ($0.13)
Depreciation and amortization 192 182 5.5% 10 ($0.04)
Taxes other than income 76 71 7.0% 5 ($0.02)
Total Operating Expenses $967 $809 19.5% $158 ($0.71)
Operating Income $215 $215 0.0% $0 $0.00
Interest Expense and Other
Interest Expense 83 83 0.0% $0 $0.00
Other Expense- net 2 3 -33.3% (1) $0.00
Net Interest Expense and Other $85 $86 -1.2% ($1) $0.00
Income Before Income Taxes $130 $129 0.8% $1 $0.00
Income Taxes 13 14 -7.1% (1) $0.01
Net Income $117 $115 1.7% $2 $0.01
Common Sh. Outstanding - Avg 144.5 145.1 -0.4%
Earnings Per Common Share $0.81 $0.79 2.6% $0.02
Add Back:
Merger Costs after tax $5 $0 $5 $0.03
Net Income Excluding Merger Costs $122 $115 6.1% $7 $0.05
Earnings Per Common Share
Excluding Merger Costs $0.84 $0.79 6.5% $0.05
* Earnings impact figures are estimates The Condensed Consolidated Statement of Income (Unaudited) should be read in
Differences may exist due to rounding conjunction with the Notes to Consolidated Financial Statements appearing in the
Please see additional detail on Page 3 Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235 - 8030 3
2. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
Earnings Analysis - Detail 1st Quarter
Change from 3/31/99 After-Tax
Per Share Impact*
DTE Energy Beginning Earnings Per Share - First Quarter 1999 $0.79
Net Margin:
Higher commercial and industrial sales due to strong economic conditions
offset by higher fuel expense. Residential sales flat due to mild weather.
$0.07
Total Regulated Net Revenues $0.07
Regulated Oper. & Maintenance Expense
Incremental Y2K costs $0.05
Distribution system improvements ($0.03)
Generation maintenance and reliability work ($0.02)
Expiration of amortization for 1997 storm $0.02
Regulated Oper. & Maintenance Expense $0.02
Depreciation & Amortization
($0.04)
Accelerated depreciation of Fermi 2, higher plant in service
Interest & Other Taxes ($0.03)
Income Taxes - Change in pretax income and effective tax rate ($0.03)
Regulated Net Income (Detroit Edison) ($0.01)
Non-Regulated Net Income:
New projects at DTE Energy Services and marked-to-market gains at DTE
$0.07
Energy Trading
Increased Plug Power losses ($0.01)
Total Non-Regulated $0.06
Earnings Per Share Change $0.05
DTE Energy Operating Earnings Per Share
$0.84
(Excluding Merger Costs)
Merger Costs ($0.03)
DTE Energy Reported Earnings Per Share
$0.81
(Including Merger Costs)
Differences may exist due to rounding.
DTE Investor Relations (313) 235 - 8030 4
3. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
TRAILING 12-MONTH ANALYSIS - REPORTED EPS
As of March 31, 2000
Detroit Edison
2Q 3Q 4Q 1Q Total EPS Growth (%)
1999 $0.64 $0.85 $0.68 $0.72 $2.89
2000 $0.74 $0.95 $0.59 $0.67 * $2.95 2.0%
Non-Regulated Subsidiaries (Additional Detail Provided Below)
2Q 3Q 4Q 1Q Total EPS Growth (%)
1999 $0.07 $0.07 $0.09 $0.10 $0.33
2000 $0.07 $0.16 $0.15 $0.15 * $0.53 60.6%
DTE Capital / DTE Holding Company
2Q 3Q 4Q 1Q Total
1999 ($0.02) ($0.01) ($0.04) ($0.02) ($0.09)
2000 ($0.05) $0.00 ($0.07) ($0.01) ($0.13)
DTE Energy Company
2Q 3Q 4Q 1Q Total EPS Growth (%)
1999 $0.69 $0.91 $0.73 $0.79 $3.12
2000 $0.76 $1.11 $0.67 $0.81 * $3.35 7.1%
* Includes merger related costs
Non-Regulated Earnings Per Share by Activity
2Q 1999 3Q 1999 4Q 1999 1Q 2000 Total
Coal Related $0.11 $0.19 $0.15 $0.15 $0.60
Renewables $0.00 $0.01 $0.01 $0.01 $0.03
Market Development and Trading ($0.03) ($0.02) $0.01 ($0.01) ($0.05)
Other $0.01 $0.01 $0.02 $0.02 $0.06
Total Non-Regulated Subsidiaries
(excluding Plug Power) $0.09 $0.19 $0.19 $0.17 $0.64
Plug Power ($0.03) ($0.03) ($0.04) ($0.02) ($0.12)
Total Non-Regulated
(including Plug Power) $0.07 $0.16 $0.15 $0.15 $0.53
DTE Capital / DTE Holding Co. ($0.05) $0.00 ($0.07) ($0.01) ($0.13)
Total Non-Regulated EPS $0.02 $0.16 $0.08 $0.14 $0.40
Differences may exist due to rounding
DTE Investor Relations (313) 235-8030 5
4. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED BALANCE SHEET (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Except Per Share Amounts)
Percent
ASSETS Mar. 31, 2000 Dec. 31, 1999 Change
Current Assets
Cash and Cash Equivalents $25 $33 -24.2%
Restricted Cash 133 131 1.5%
Accounts Receivable
Customer (less allowance for doubtful
accounts) 342 388 -11.9%
Accrued Unbilled Revenues 169 166 1.8%
Other 143 144 -0.7%
Inventories (at average cost)
Fuel 168 175 -4.0%
Materials and Supplies 157 168 -6.5%
Prepaids and Other 223 105 112.4%
Total Current Assets $1,360 $1,310 3.8%
Investments
Nuclear Decommissioning Trust Funds 387 361 7.2%
Other 210 211 -0.5%
Plug Power 59 63 -6.3%
656 635 3.3%
Property
Property, Plant and Equipment 11,817 11,755 0.5%
Property under Capital Leases 221 222 -0.5%
Nuclear Fuel under Capital Lease 702 663 5.9%
Construction Work in Progress 154 106 45.3%
12,894 12,746 1.2%
Less Accumulated Depreciation & Amortization 5,671 5,598 1.3%
7,223 7,148 1.0%
Regulatory Assets 2,839 2,935 -3.3%
Other Assets 291 288 1.0%
Total Assets $12,369 $12,316 0.4%
The Condensed Consolidated Balance Sheet (Unaudited) should be read in conjunction with the
Notes to Consolidated Financial Statements appearing in the Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235-8030 6
5. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED BALANCE SHEET (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Except Per Share Amounts)
Percent
LIABILITIES Mar. 31, 2000 Dec. 31, 1999 Change
Current Liabilities
Accounts Payable $243 $273 -11.0%
Accrued Interest 49 57 -14.0%
Dividends Payable 75 75 0.0%
Accrued Payroll 80 97 -17.5%
Short-term Borrowings 501 387 29.5%
Income taxes 101 61 65.6%
Current Portion Long-term Debt 95 270 -64.8%
Current Portion Capital Leases 104 75 38.7%
Other 282 309 -8.7%
$1,530 $1,604 -4.6%
Other Liabilities
Deferred Income Taxes 1,886 1,925 -2.0%
Capital Leases 111 114 -2.6%
Regulatory Liabilities 260 262 -0.8%
Other 581 564 3.0%
2,838 2,865 -0.9%
Long-Term Debt $4,120 $3,938 4.6%
Shareholder's Equity
Common Stock, without par value, 400,000,000 shares
authorized, 142,660,170 and 145,071,317 issued and
outstanding, respectively 1,918 1,950 -1.6%
Retained Earnings 1,963 1,959 0.2%
Total Shareholder's Equity $3,881 $3,909 -0.7%
Total Liabilities and Shareholder's Equity $12,369 $12,316 0.4%
The Condensed Consolidated Balance Sheet (Unaudited) should be read in conjunction with the Notes to
Consolidated Financial Statements appearing in the Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235-8030 7
6. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(PRELIMINARY/UNAUDITED)
(Dollars in Millions, Except Per Share Amounts)
12 Months Ended March 31
2000 1999
Operating Activities
Net Income $117 $115
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and Amortization 192 182
Other 22 30
Changes in current assets and liabilities:
Accounts Receivable 44 22
Inventories 18 25
Payables (63) (50)
Prepaid Property Taxes and Other (146) (186)
Net cash from operating activities $184 $138
Investing Activities
Plant and Equipment Expenditures (130) (144)
Non-Regulated Investments (47) (20)
Net cash used for investing activities (176) ($164)
Financing Activities
Issuance of Long-term Debt $219 $0
Increase (Decrease) in Short-term Borrowings 114 49
Redemption of Long-term Debt (212) (37)
Dividends on Common Stock (75) (75)
Repurchase of Common Stock (62) 0
Net cash used for financing activities ($16) ($63)
Net Increase (Decrease) in Cash and Temporary Cash Investments (8) ($89)
Cash and Cash Equivalents at Beginning of the Period 33 130
Cash and Cash Equivalents at End of the Period $25 $41
Supplementary Cash Flow Information
Interest paid (excluding interest capitalized) $91 $84
Income Taxes paid 14 29
New Capital lease obligations 40 9
The Condensed Consolidated Statement of Cash Flows (Unaudited) should be read in conjunction with the Notes to
Consolidated Financial Statements appearing in the Annual Report to Shareholders, 10K, and 10Q.
8
DTE Investor Relations (313) 235-8030
7. THE DETROIT EDISON COMPANY
STATEMENT OF INCOME (PRELIMINARY/UNAUDITED)*
(Dollars in Millions, Expect Per Share Amounts)
3 Months - Mar 2000 After Tax
2000 1999 % Change $ Change EPS Impact
Operating Revenues $949 $911 4.1% $38 $0.17
Operating Expenses
Fuel and Purchased power 229 206 11.2% 23 (0.10)
Operation and Maintenance 240 237 1.3% 3 (0.01)
Depreciation and amortization 182 173 5.2% 9 (0.04)
Taxes other than income 75 71 5.6% 4 (0.02)
Total Operating Expenses $726 $687 5.7% $39 (0.17)
Operating Income $223 $224 -0.7% ($1) ($0.01)
Interest Expense and Other
Interest Expense 69 68 1.5% 1 ($0.00)
Other - net 4 3 33.3% 1 ($0.00)
Net Interest Expense and Other $74 $71 4.2% $3 ($0.02)
Income Before Income Taxes $149 $153 -2.9% ($5) ($0.03)
Income Taxes $52 $49 6.1% $3 ($0.02)
Net Income $97 $104 -7.2% ($8) ($0.05)
Net Income Available for Common Stock $97 $104 -7.2% ($8) ($0.05)
* Differences may exist due to rounding The Condensed Consolidated Statement of Income (Unaudited) should be read in
conjunction with the Notes to Consolidated Financial Statements appearing in the
Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235-8030 9
8. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
SELECTED FINANCIAL RATIOS (PRELIMINARY/UNAUDITED)
Twelve Months Ended
March
2000 1999
Coverage Ratios (SEC Basis):
2.50 2.61
Ratio of Earnings to Fixed Charges (SEC Basis)
Ratio of Earnings to Fixed Charges
2.56 2.68
(Excluding Non-Recourse Debt Interest Expense)
13.1% 12.5%
Return on Average Common Equity
11.9% 12.1%
Return on Average Common Equity (Detroit Edison - Electric & Steam)
59.6% 65.7%
Common Stock Dividend Payout
124.4% 109.5%
Funds Generated Internally for Construction
11.2% 22.0%
Effective Federal Income Tax Rate
$26.81 $25.73
Book Value Per Common Share
Capital Structure
2000 1999
Traditional Method
48.6% 48.4%
Common Shareholders' Equity
0.0% 0.0%
Preferred Stock
4.8% 5.0%
Deeply Subordinated Debt (QUIDS)
46.6% 46.6%
Long-Term Debt
100% 100%
Total
Rating Agency Method
44.7% 42.7%
Common Shareholders' Equity
(1)
4.4% 4.4%
Preferred Stock & Deeply Subordinated Debt (QUIDS)
Long-Term Debt (2) 50.9% 52.9%
100% 100%
Total
Capital Structure
(Excluding Non-Recourse Debt)
2000 1999
Traditional Method
50.6% 51.2%
Common Shareholders' Equity
0.0% 0.0%
Preferred Stock
5.0% 5.3%
Deeply Subordinated Debt (QUIDS)
44.3% 43.6%
Long-Term Debt
100% 100%
Total
Rating Agency Method
46.2% 45.4%
Common Shareholders' Equity
(1)
4.6% 4.7%
Preferred Stock & Deeply Subordinated Debt (QUIDS)
(2)
49.2% 49.9%
Long-Term Debt
100% 100%
Total
(1)
Includes amounts due within one year.
(2)
Includes amounts due within one year, obligations under capital leases (current and non-current) and short-term debt.
DTE Investor Relations (313) 235-8030 10
9. SALES ANALYSIS
(GWH)
1Q '00 Sales As
2Q 3Q 4Q 1Q % Chg from % of
Category 1999 1999 1999 2000 1Q '99 Total
3,237
Residential 4,231 3,110 3,480 -0.2% 26.2%
Commercial
2,683
Secondary 2,834 2,545 2,570 2.6% 19.4%
2,390
Primary 2,426 2,159 2,088 4.0% 15.7%
5,073
Total Commercial 5,260 4,704 4,658 3.3% 35.1%
Industrial
1,901
Automotive 2,282 2,110 2,039 13.3% 15.4%
699
Steel 749 705 700 5.4% 5.3%
1,293
Other Manufacturing 1,150 1,205 1,224 12.5% 9.2%
3,893
Total Industrial 4,181 4,020 3,963 11.6% 29.8%
592
Other 642 694 691 3.8% 5.2%
12,795
Total System Sales 14,314 12,528 12,792 4.7% 96.3%
786 468
Interconnection 625 1,136 -58.4% 3.5%
19
Mitigation n/a 0.1%
Total Sales 13,581 14,939 13,664 13,279 -0.4% 100.0%
Heating and Cooling Degree Day Data
1Q 2000 1Q 1999
Heating Degree Days 2,849 3,118
Cooling Degree Days 3 -
11
DTE Investor Relations (313) 235-8030