- DTE Energy's consolidated statement of financial position as of September 30, 2006 showed total assets of $22.3 billion and total liabilities and shareholders' equity of $22.3 billion.
- Key assets included property, plant and equipment of $10.5 billion, goodwill of $2.1 billion, and regulatory and intangible assets of $3.5 billion. Total debt was $6.7 billion.
- Detroit Edison reported operating revenues of $1.5 billion for the third quarter of 2006, with operating earnings of $145 million. Michigan Consolidated Gas reported an operating loss of $7 million on revenues of $167 million.
Statutory demands are a great way to attempt to recover debts from an insolvent debtor company. This eBook is a complete guide to drafting and serving statutory demands.
Statutory demands are a great way to attempt to recover debts from an insolvent debtor company. This eBook is a complete guide to drafting and serving statutory demands.
APBA Offshore Racing League Business Plan 9.13.03Gordon Kraft
APBA Offshore Racing, LLC had a 99yr license for Offshore Racing from the APBA parent organization. KHAMAN Holding, Inc. owned ORL - Offshore Racing League. LLC Founders...
when will pi network coin be available on crypto exchange.DOT TECH
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 my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 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 WAY 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
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Introduction to Indian Financial System ()Avanish Goel
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
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins 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
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
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
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
2. DTE ENERGY COMPANY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Unaudited)
December 31
September 30
2005
2006
(in Millions)
ASSETS
Current Assets
Cash and cash equivalents..................................................................................... $ 88
$ 65
Restricted cash ...................................................................................................... 122
93
Accounts receivable
Customer (less allowance for doubtful accounts of $159 and $136, respectively) 1,746
1,152
Collateral held by others ...................................................................................... 286
248
Other ................................................................................................................... 363
209
Accrued power and gas supply cost recovery revenue .......................................... 186
178
Inventories
Fuel and gas ........................................................................................................ 522
661
Materials and supplies......................................................................................... 146
148
Deferred income taxes .......................................................................................... 257
143
Assets from risk management and trading activities............................................. 806
575
Other ..................................................................................................................... 160
238
4,682
3,710
Investments
Nuclear decommissioning trust funds ................................................................... 646
709
Other .......................................................................................................................... 530
501
1,176
1,210
Property
Property, plant and equipment .............................................................................. 18,187
18,380
(7,663 )
(7,578 )
Less accumulated depreciation and depletion ......................................................
10,524
10,802
Other Assets
Goodwill ............................................................................................................... 2,057
2,057
Regulatory assets .................................................................................................. 2,074
1,991
Securitized regulatory assets ................................................................................. 1,340
1,264
Intangible assets .................................................................................................... 400
456
Notes receivable.................................................................................................... 409
226
Assets from risk management and trading activities............................................. 316
262
Prepaid pension assets........................................................................................... 186
184
Other ..................................................................................................................... 171
154
6,953
6,594
$ 23,335
Total Assets............................................................................................................. $ 22,316
3. DTE ENERGY COMPANY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Unaudited)
December 31
September 30
2005
2006
(in Millions, Except Shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable ............................................................................................. $ 1,187
$ 909
Accrued interest................................................................................................ 115
128
Dividends payable ............................................................................................ 92
92
Short-term borrowings...................................................................................... 943
884
Current portion of long-term debt, including capital leases ............................. 691
362
Liabilities from risk management and trading activities ...................................... 1,089
648
Other................................................................................................................. 803
810
4,920
3,833
Other Liabilities
Deferred income taxes...................................................................................... 1,396
1,363
Regulatory liabilities ........................................................................................ 715
753
Asset retirement obligations ............................................................................. 1,091
1,158
Unamortized investment tax credit................................................................... 131
122
Liabilities from risk management and trading activities................................... 527
333
Liabilities from transportation and storage contracts ....................................... 317
288
Accrued pension liability.................................................................................. 284
376
Deferred gains from asset sales ........................................................................ 188
72
Minority interest ............................................................................................... 92
41
Nuclear decommissioning ................................................................................ 85
94
Other................................................................................................................. 740
737
5,566
5,337
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other..................................................................... 5,234
5,724
Securitization bonds......................................................................................... 1,295
1,185
Equity-linked securities ................................................................................... 175
-
Trust preferred-linked securities ...................................................................... 289
289
Capital lease obligations .................................................................................. 87
84
7,080
7,282
Commitments and Contingencies
Shareholders’ Equity
Common stock, without par value, 400,000,000 shares
authorized, 177,964,872 and 177,814,429 shares issued
and outstanding, respectively ......................................................................... 3,483
3,480
Retained earnings ............................................................................................. 2,557
2,574
Accumulated other comprehensive loss ........................................................... (271 )
(190 )
5,769
5,864
$ 23,335
Total Liabilities and Shareholders’ Equity ..................................................... $ 22,316
4. DTE ENERGY COMPANY
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
Nine Months Ended
September 30
2005
2006
(in Millions)
Operating Activities
Net Income ..................................................................................................... $ 155
$ 291
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization .................................................. 663
801
Deferred income taxes ............................................................................... 121
24
Gain on sale of interests in synfuel projects .............................................. (180 )
(72 )
Gain on sale of assets, net.......................................................................... (31 )
(1 )
Impairment of synfuel projects.................................................................. -
124
Partners’ share of synfuel project losses.................................................... (241 )
(191 )
Contributions from synfuel partners .......................................................... 177
155
Changes in assets and liabilities, exclusive of changes
shown separately (Note 1) ...................................................................... (71 )
43
Net cash from operating activities .................................................................. 593
1,174
Investing Activities
Plant and equipment expenditures – utility..................................................... (564 )
(830 )
Plant and equipment expenditures – non-utility ............................................. (145 )
(214 )
Acquisitions, net of cash acquired .................................................................. -
(27 )
Proceeds from sale of interests in synfuel projects......................................... 251
203
Proceeds from sale of other assets .................................................................. 56
41
Restricted cash for debt redemptions.............................................................. 30
29
Proceeds from sale of nuclear decommissioning trust fund assets ................. 159
136
Investment in nuclear decommissioning trust funds....................................... (188 )
(163 )
Other investments........................................................................................... (80 )
(6 )
Net cash used for investing activities ............................................................. (481 )
(831 )
Financing Activities
Issuance of long-term debt ............................................................................. 623
545
Redemption of long-term debt........................................................................ (1,059 )
(672 )
Short-term borrowings, net ............................................................................. 472
44
Issuance of common stock.............................................................................. 172
9
Repurchase of common stock......................................................................... (12 )
(10 )
Dividends on common stock .......................................................................... (268 )
(274 )
Other............................................................................................................... (5 )
(8 )
Net cash used for financing activities ............................................................. (77 )
(366 )
Net Increase (Decrease) in Cash and Cash Equivalents............................... (23 ) 35
Cash and Cash Equivalents at Beginning of the Period............................... 88 56
$ 91
Cash and Cash Equivalents at End of the Period ......................................... $ 65
5. THE DETROIT EDISON COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
Three Months Ended Nine Months Ended
September 30 September 30
(in Millions) 2005 2005
2006 2006
$ 1,409 $ 3,434
Operating Revenues .................................................................$ 1,460 $ 3,685
Operating Expenses
Fuel and purchased power ....................................................... 604 1,248
539 1,257
Operation and maintenance ..................................................... 325 976
277 990
Depreciation and amortization................................................. 174 484
308 643
Taxes other than income.......................................................... 68 200
64 198
Asset (gains) and losses, net .................................................... (26 ) (26 )
(1 ) (1 )
1,145 2,882
1,187 3,087
264 552
Operating Income .................................................................... 273 598
Other (Income) and Deductions
Interest expense ....................................................................... 68 201
60 208
Interest income ........................................................................ (1 ) (2 )
(1 ) (2 )
Other income ........................................................................... (17 ) (47 )
(9 ) (22 )
Other expenses ........................................................................ 20 62
9 29
70 214
59 213
194 338
Income Before Income Taxes................................................... 214 385
80 126
Income Tax Provision............................................................... 73 128
$ 114 $ 212
Reported Earnings....................................................................$ 141 $ 257
Adjustments
Performance Excellence Process ............................................. - -
(31 ) -
Incremental non-recurring DTE2 project costs ....................... 3 8
- -
Effective tax rate normalization .............................................. (3 ) (3 )
(3 ) (2 )
Gain on sale of assets .............................................................. (17 ) (17 )
- -
September 2006 MPSC electric order ..................................... - -
38 38
(17 ) (12 )
4 36
$ 97 $ 200
Operating Earnings .................................................................$ 145 $ 293
The Consolidated Statement of Operations (Unaudited) should be read in conjunction with the Notes to
Consolidated Financial Statements appearing in the Annual Report to Shareholders, Form 10K and 10Q.
6. MICHIGAN CONSOLIDATED GAS COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
Three Months Ended Nine Months Ended
September 30 September 30
(in Millions) 2005 2005
2006 2006
$ 206 $ 1,301
Operating Revenues ..................................................... $ 167 $ 1,259
Operating Expenses
Cost of gas................................................................... 100 858
56 768
Operation and maintenance ......................................... 93 308
91 320
Depreciation and amortization .................................... 23 73
24 71
Taxes other than income.............................................. 9 35
13 41
Asset (gains) and losses, net........................................ - 48
(3) -
225 1,322
181 1,200
Operating Income (Loss) ............................................ (19) (21)
(14) 59
Other (Income) and Deductions
Interest expense ........................................................... 14 42
17 49
Interest income ............................................................ (3) (8)
(2) (6)
Other income ............................................................... (1) (3)
(2) (6)
Other expenses ............................................................ 1 3
- 1
11 34
13 38
(30) (55)
Income (Loss) Before Income Taxes ........................... (27) 21
(189) (151)
Income Tax Provision (Benefit)................................... (8) 3
$ 159 $ 96
Reported Earnings (Loss) ............................................ $ (19) $ 18
Adjustments
Effective tax rate normalization ................................... (181 ) (130)
5 3
Performance Excellence Process .................................. - -
7 11
Incremental non-recurring DTE2 project costs ........... 2 4
- -
April 2005 MPSC gas orders........................................ - 57
- -
(179 ) (69)
12 14
$ (20 ) $ 27
Operating Earnings (Loss)........................................... $ (7) $ 32
The Consolidated Statement of Operations (Unaudited) should be read in conjunction with the Notes to
Consolidated Financial Statements appearing in the Annual Report to Shareholders, Form 10K and 10Q.
7. DTE Energy Debt/Equity Calculation
As of Sept. 30, 2006
($ millions)
Short-term borrowings 884
Current portion of long-term debt, including capital leases 362
Mortgage bonds, notes and other 5,724
Securitization bonds 1,185
Capital lease obligations 84
less MichCon short-term debt (254)
less Securitization bonds, including current portion (1,296)
Total debt 6,689
Trust preferred-linked securities 289
Total preferred/ other 289
Equity 5,864
Total capitalization 12,842
Debt 52.1%
Preferred 2.2%
Common shareholders' equity 45.7%
Total 100.0%
8. Sales Analysis - Q3 2006
Electric Sales - Detroit Edison Service Area (GWh) Electric Revenue - Detroit Edison Service Area ($000s)
Q3 2006 Q3 2005 Q3 2006 Q3 2005
% Change % Change
Residential 4,883 5,555 -12% Residential 529,454 508,444 4%
Commercial 4,927 4,462 10% Commercial 444,827 376,134 18%
Industrial 3,695 3,197 16% Industrial 240,020 187,559 28%
Other 814 691 18% Other 44,448 34,172 30%
14,319 13,905 3% 1,258,749 1,106,309 14%
Interconnection Interconnection
1,023 1,111 -8% 66,152 139,351 -53%
Choice* Choice*
534 1,697 -69% 15,355 32,915 -53%
TOTAL SALES 15,876 16,713 -5% TOTAL REVENUES 1,340,256 1,278,575 5%
* Includes Dearborn Industrial Group sales * Distribution charge, includes Dearborn Industrial Group revenues
Gas Sales - MichCon Service Area (Mcf) Gas Revenue - MichCon Service Area ($000s)
Q3 2006 Q3 2005 Q3 2006 Q3 2005
% Change % Change
Residential 7,814,094 7,262,523 8% Residential 104,066 102,002 2%
Commercial 2,171,363 2,413,047 -10% Commercial 26,294 30,857 -15%
Industrial 230,837 201,249 15% Industrial 2,322 2,188 6%
10,216,294 9,876,819 3% 132,682 135,047 -2%
End User End User
Transportation* Transportation*
27,815,723 34,491,497 -19% 24,149 24,268 0%
TOTAL SALES 38,032,017 44,368,316 -14% TOTAL REVENUES 156,831 159,315 -2%
* Includes choice customers * Includes choice customers
Weather
Cooling Degree Days Heating Degree Days
Detroit Edison service territory MichCon service territory
Q3 2006 Q3 2005 Q3 2006 Q3 2005
% Change % Change
Actuals 640 775 -17% Actuals 148 58 155%
Normal 537 537 Normal 177 179
19% 44% -16% -68%
Deviation from normal Deviation from normal