DTE Energy Company reported financial results for the third quarter of 1999. Operating revenues increased 20.1% to $1.44 billion due to higher net system sales and a performance reserve from Fermi 2. Total operating expenses rose 24.3% to $1.16 billion primarily from increased fuel and purchased power costs. As a result, operating income grew 5.4% while net income increased 21.8% and earnings per share rose 21.8% to $1.11.
DTE Energy reported financial results for the second quarter and first six months of 1999. Operating revenues increased 8.1% and 8.2% respectively compared to the same periods in 1998. However, higher operating expenses led to a decrease in operating income of 14.9% and 11.4%. Net income increased by 8.9% and 9.8% due to lower income tax expenses. Cash used for investing activities increased as the company spent more on plant and equipment expenditures.
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion while net income grew 9.0% to $483 million due to increased industrial sales and non-regulated business income, partially offset by higher fuel expenses. Cash from operating activities totaled $1.1 billion for 1999.
DTE Energy Company reported financial results for the second quarter of 2000. Operating revenues increased 24.2% to $1.428 billion due to higher fuel and purchased power costs. Net income was $108 million, down slightly from $110 million in the previous year. Earnings per share were $0.76, unchanged from the prior year when excluding one-time items. For the six months ended June 30, 2000, operating revenues increased 20.1% to $2.610 billion while net income was $224 million, relatively unchanged from the previous year.
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.
The document is DTE Energy Company's condensed consolidated statement of income and balance sheet for the first quarter of 1999 compared to the same period in 1998. Some key points:
- Operating revenues increased 8.4% to $1,024 million, while operating expenses rose 13.6% to $809 million, resulting in a 7.7% decrease in operating income to $215 million.
- Net income increased 10.6% to $115 million due to higher regulated revenues and lower expenses, as well as improved performance from non-regulated subsidiaries.
- As of March 31, 1999, current assets decreased primarily due to lower cash and cash equivalents, while accounts receivable and inventories
- DTE Energy Company and Subsidiary Companies provided a condensed consolidated statement of income and balance sheet for the third quarter of 2000 compared to the third quarter of 1999.
- Key highlights include operating revenues increased 7.4% to $1.547 billion driven by higher fuel and purchased power costs, while operating income decreased 38.8% to $172 million.
- Net income including one-time items decreased 35.2% to $104 million, while earnings per share decreased 38.8% to $0.73 per share compared to the prior year.
first energy 3Q 08 Consolidated Finan Communityfinance21
This document summarizes FirstEnergy's financial results for the third quarter of 2008 compared to the third quarter of 2007. Key points include:
- Earnings per share increased to $1.55 from $1.36 due to higher wholesale sales prices and lower expenses, partially offset by higher fuel costs.
- Electric deliveries declined 2% due to mild weather while generation revenues increased due to higher wholesale prices. Fuel and purchased power expenses rose.
- Several other factors positively impacted earnings, including lower pension expenses and financing costs.
- Guidance for 2008 earnings per share was increased to $4.30 to $4.40, up from $4.25 to $4.35.
This document provides a summary of FirstEnergy Corp.'s financial results for the third quarter of 2006.
- Normalized non-GAAP earnings were $1.42 per share for Q3 2006, up from $1.04 per share in Q3 2005. GAAP earnings were $1.41 per share for Q3 2006 compared to $1.01 per share in Q3 2005.
- Factors that increased earnings included regulatory changes in Ohio and lower fuel and purchased power costs. Factors that decreased earnings included lower distribution deliveries due to mild weather and lower generation revenues from lower wholesale prices and sales volumes.
- Guidance for 2006 normalized non-GAAP earnings was increased to
DTE Energy reported financial results for the second quarter and first six months of 1999. Operating revenues increased 8.1% and 8.2% respectively compared to the same periods in 1998. However, higher operating expenses led to a decrease in operating income of 14.9% and 11.4%. Net income increased by 8.9% and 9.8% due to lower income tax expenses. Cash used for investing activities increased as the company spent more on plant and equipment expenditures.
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion while net income grew 9.0% to $483 million due to increased industrial sales and non-regulated business income, partially offset by higher fuel expenses. Cash from operating activities totaled $1.1 billion for 1999.
DTE Energy Company reported financial results for the second quarter of 2000. Operating revenues increased 24.2% to $1.428 billion due to higher fuel and purchased power costs. Net income was $108 million, down slightly from $110 million in the previous year. Earnings per share were $0.76, unchanged from the prior year when excluding one-time items. For the six months ended June 30, 2000, operating revenues increased 20.1% to $2.610 billion while net income was $224 million, relatively unchanged from the previous year.
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.
The document is DTE Energy Company's condensed consolidated statement of income and balance sheet for the first quarter of 1999 compared to the same period in 1998. Some key points:
- Operating revenues increased 8.4% to $1,024 million, while operating expenses rose 13.6% to $809 million, resulting in a 7.7% decrease in operating income to $215 million.
- Net income increased 10.6% to $115 million due to higher regulated revenues and lower expenses, as well as improved performance from non-regulated subsidiaries.
- As of March 31, 1999, current assets decreased primarily due to lower cash and cash equivalents, while accounts receivable and inventories
- DTE Energy Company and Subsidiary Companies provided a condensed consolidated statement of income and balance sheet for the third quarter of 2000 compared to the third quarter of 1999.
- Key highlights include operating revenues increased 7.4% to $1.547 billion driven by higher fuel and purchased power costs, while operating income decreased 38.8% to $172 million.
- Net income including one-time items decreased 35.2% to $104 million, while earnings per share decreased 38.8% to $0.73 per share compared to the prior year.
first energy 3Q 08 Consolidated Finan Communityfinance21
This document summarizes FirstEnergy's financial results for the third quarter of 2008 compared to the third quarter of 2007. Key points include:
- Earnings per share increased to $1.55 from $1.36 due to higher wholesale sales prices and lower expenses, partially offset by higher fuel costs.
- Electric deliveries declined 2% due to mild weather while generation revenues increased due to higher wholesale prices. Fuel and purchased power expenses rose.
- Several other factors positively impacted earnings, including lower pension expenses and financing costs.
- Guidance for 2008 earnings per share was increased to $4.30 to $4.40, up from $4.25 to $4.35.
This document provides a summary of FirstEnergy Corp.'s financial results for the third quarter of 2006.
- Normalized non-GAAP earnings were $1.42 per share for Q3 2006, up from $1.04 per share in Q3 2005. GAAP earnings were $1.41 per share for Q3 2006 compared to $1.01 per share in Q3 2005.
- Factors that increased earnings included regulatory changes in Ohio and lower fuel and purchased power costs. Factors that decreased earnings included lower distribution deliveries due to mild weather and lower generation revenues from lower wholesale prices and sales volumes.
- Guidance for 2006 normalized non-GAAP earnings was increased to
DTE Energy reported first quarter earnings of $138 million compared to $117 million in the first quarter of 2000. Revenue from non-regulated businesses increased 251% to $817 million, contributing to increased earnings. The results were positively impacted by the suspension of the fuel clause and the company expects to complete its merger with MCN Energy in June, which is an important part of DTE Energy's growth strategy.
DTE Energy reported a 20% increase in net income for the first quarter of 2004 compared to the same period in 2003. Operating expenses decreased 8% due to lower fuel and operation and maintenance costs. Operating income increased 68% while income from continuing operations rose 79%. Earnings per share from continuing operations were $1.14 for Q1 2004 compared to $0.65 for Q1 2003, an increase of 75%. Significant special items impacting comparability between the periods included a $0.28 per share benefit from a pipeline contract termination in 2004.
Bank of America reported second quarter 2007 results. Net income was $5.8 billion, up 4% from the previous year. Revenue increased 8% due to strong noninterest income growth across all business lines. Credit quality remained sound although provision expenses increased due to reserve builds. The company continued to see increases in deposits, assets under management, retail sales and checking account openings.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended September 30, 2001. It provides consolidated financial statements including statements of income, cash flows, and balance sheets. For the quarter, Xcel Energy reported operating revenues of $3.8 billion and net income of $273 million. Total operating expenses were $3.1 billion. Earnings available for common shareholders were $272 million.
DTE Energy reported second quarter earnings of $0.42 per share, down from $0.55 per share in the second quarter of 2001, excluding merger and restructuring expenses. For the first six months of 2002, earnings per share increased 8% compared to 2001. DTE Energy narrowed its full-year 2002 earnings guidance to $3.75-$3.95 per share and initiated 2003 guidance of $3.90-$4.10 per share. Solid performance from the electric utility and contributions from non-regulated businesses such as coal-based fuels helped achieve results despite uncertain impacts from weather and economic conditions.
This document is FirstEnergy Corp.'s consolidated report for the first quarter of 2008. It provides highlights of financial results including non-GAAP earnings of $0.88 per share, unchanged from the prior year. Increased electric distribution deliveries and generation revenues were offset by higher fuel and purchased power costs. The report also reaffirms earnings guidance for 2008.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended June 30, 2002. It includes consolidated statements of income showing operating revenues and expenses for the quarter and year-to-date, resulting in operating income of $345.6 million and $673 million respectively. It also reports net income of $87.3 million for the quarter and $190.8 million year-to-date, as well as earnings available to common shareholders of $86.2 million and $188.7 million.
DTE Energy reported 2002 earnings of $632 million or $3.83 per diluted share, up 10% from 2001 operating earnings. Earnings for the fourth quarter of 2002 were $203 million or $1.21 per diluted share, down from 2001 operating earnings of $1.43 per diluted share. The company reaffirmed its 2003 earnings guidance of $3.90 to $4.10 per share despite anticipated challenges. By business unit, DTE Energy Resources contributed earnings growth while DTE Energy Distribution saw declines due to storm costs and DTE Energy Gas saw increases.
This annual report summarizes Dollar General's performance for the fiscal year ending February 3, 2006. Some key points:
- Dollar General grew net sales by 12% to $8.6 billion and net income by 2% to $350 million, with earnings per share of $1.08.
- The company opened 734 new stores, including 29 new Dollar General Markets, bringing the total store count to 7,929.
- Initiatives like EZstore and Project Gold Standard aimed to improve store operations and strengthen the organization. Nearly half of stores implemented the EZstore model by year-end.
- Leadership was enhanced with several new executive hires and a reorganization to better
Norfolk Southern Corporation's 2008 Annual Report summarizes the company's strong financial performance in 2008. Some key highlights include record operating revenues and income, an improved operating ratio of 71.1%, and continued growth in net income and earnings per share. The report also discusses Norfolk Southern's focus on safety, service quality, growing its business, supporting communities, and investing in infrastructure and technology to position the company for long-term success.
DTE Energy filed its second quarter 2003 Form 10-Q with the SEC, reporting a loss of $39 million compared to an unaudited loss of $23 million previously announced. This was due to less insurance coverage than expected for an April ice storm. Operating earnings for the quarter were $70 million, in line with the company's full-year 2003 operating earnings guidance of $3.10-$3.30 per share. The earnings revision did not impact the company's operating earnings outlook or internal performance measurements.
DTE Energy reported 2000 earnings of $468 million, down slightly from 1999. Earnings were impacted by one-time charges of $0.15 per share for a residential rate reduction and $0.12 per share for merger costs. Excluding these, earnings rose 6.3% to $3.54 per share. Non-regulated businesses contributed earnings of $0.59 per share, up 22% over 1999 due to new projects. While results were mixed due to weather and plant issues, cost controls and growth in commercial sales helped offset impacts.
DTE Energy reported strong financial results for 2001. Operating earnings excluding merger and restructuring charges were $536 million compared to $484 million in 2000, an increase of 10.7%. Overall earnings were $332 million compared to $468 million in 2000, reflecting merger-related charges. Non-regulated energy businesses exceeded their earnings target, contributing $162 million in net income. Looking ahead, DTE Energy expects its compound annual earnings growth rate to increase to between 6-8% by 2005 and provided earnings guidance of $3.70 to $4.00 per share for 2002.
DTE Energy reported second quarter 2001 operating earnings of $70 million compared to $108 million in the second quarter of 2000. While earnings were impacted by Michigan's electric restructuring legislation, the company remains on track to reach its projected full year earnings of $3.50 to $3.60 per share. The acquisition of MCN Energy was completed during the quarter, and earnings are expected to benefit in the second half of the year from the addition of MCN's gas operations and projected cost synergies from the merger. Several non-regulated businesses performed well during the quarter and are also expected to contribute to meeting the company's full year earnings projection.
Starbucks had a very successful fiscal year 2007, with revenue reaching $9.4 billion and net earnings of $673 million. However, the company saw slowing customer traffic in U.S. stores. In response, Starbucks' CEO Howard Schultz will lead a transformation of the company to refocus on coffee quality and the customer experience. Plans include improving U.S. stores, expanding internationally, and renewing Starbucks' heritage and innovation. Schultz is confident these steps will ensure long-term success and deliver value for customers, partners, and shareholders.
DTE Energy reported financial results for the second quarter and first six months of 1999. Operating revenues increased 8.1% and 8.2% respectively compared to the same periods in 1998. However, operating expenses grew at a faster rate, leading to declines in operating income and net income. Higher fuel and purchased power costs and increased operation and maintenance expenses, particularly related to year 2000 remediation, drove overall expense growth.
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion and net income increased 9.0% to $483 million. Cash from operations was $1.1 billion for the year.
DTE Energy Company reported financial results for the second quarter of 2000. Operating revenues increased 24.2% to $1.428 billion due to higher fuel and purchased power costs. Net income was $108 million, down slightly from $110 million in the previous year. Earnings per share were $0.76, unchanged from the prior year when excluding one-time items. For the six months ended June 30, 2000, operating revenues increased 20.1% to $2.610 billion, while net income was $224 million, relatively unchanged from the previous year.
DTE Energy Company reported financial results for the first quarter of 2000. Operating revenues increased 15.4% to $1.182 billion due to higher fuel and purchased power expenses. Net income rose 1.7% to $117 million. Earnings per share increased 2.6% to $0.81. Excluding merger costs, EPS rose 6.1% to $0.84. Detroit Edison, DTE Energy's regulated utility, saw revenues increase 4.1% but net income fell 7.2% due to higher fuel expenses. Non-regulated subsidiaries contributed significantly higher earnings from new projects and trading gains.
DTE Energy Company reported financial results for the first quarter of 1999. Operating revenues increased 8.4% to $1.024 billion compared to $945 million in the first quarter of 1998. However, operating expenses rose 13.6% to $809 million, resulting in a 7.7% decline in operating income to $215 million. Net income increased 10.6% to $115 million due to a lower effective tax rate, though earnings per share grew at a slower rate of 9.7% to $0.79 per share. Total sales volumes increased across all customer classes for the first quarter of 1999 compared to the prior year.
- DTE Energy Company and Subsidiary Companies provided a condensed consolidated statement of income and balance sheet for the third quarter of 2000 compared to the third quarter of 1999.
- Key highlights include operating revenues increased 7.4% to $1.547 billion driven by higher fuel and purchased power costs, while operating income decreased 38.8% to $172 million.
- Net income including one-time items decreased 35.2% to $104 million, while earnings per share decreased 38.8% to $0.73 per share compared to the prior year.
DTE Energy reported first quarter earnings of $138 million compared to $117 million in the first quarter of 2000. Revenue from non-regulated businesses increased 251% to $817 million, contributing to increased earnings. The results were positively impacted by the suspension of the fuel clause and the company expects to complete its merger with MCN Energy in June, which is an important part of DTE Energy's growth strategy.
DTE Energy reported a 20% increase in net income for the first quarter of 2004 compared to the same period in 2003. Operating expenses decreased 8% due to lower fuel and operation and maintenance costs. Operating income increased 68% while income from continuing operations rose 79%. Earnings per share from continuing operations were $1.14 for Q1 2004 compared to $0.65 for Q1 2003, an increase of 75%. Significant special items impacting comparability between the periods included a $0.28 per share benefit from a pipeline contract termination in 2004.
Bank of America reported second quarter 2007 results. Net income was $5.8 billion, up 4% from the previous year. Revenue increased 8% due to strong noninterest income growth across all business lines. Credit quality remained sound although provision expenses increased due to reserve builds. The company continued to see increases in deposits, assets under management, retail sales and checking account openings.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended September 30, 2001. It provides consolidated financial statements including statements of income, cash flows, and balance sheets. For the quarter, Xcel Energy reported operating revenues of $3.8 billion and net income of $273 million. Total operating expenses were $3.1 billion. Earnings available for common shareholders were $272 million.
DTE Energy reported second quarter earnings of $0.42 per share, down from $0.55 per share in the second quarter of 2001, excluding merger and restructuring expenses. For the first six months of 2002, earnings per share increased 8% compared to 2001. DTE Energy narrowed its full-year 2002 earnings guidance to $3.75-$3.95 per share and initiated 2003 guidance of $3.90-$4.10 per share. Solid performance from the electric utility and contributions from non-regulated businesses such as coal-based fuels helped achieve results despite uncertain impacts from weather and economic conditions.
This document is FirstEnergy Corp.'s consolidated report for the first quarter of 2008. It provides highlights of financial results including non-GAAP earnings of $0.88 per share, unchanged from the prior year. Increased electric distribution deliveries and generation revenues were offset by higher fuel and purchased power costs. The report also reaffirms earnings guidance for 2008.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended June 30, 2002. It includes consolidated statements of income showing operating revenues and expenses for the quarter and year-to-date, resulting in operating income of $345.6 million and $673 million respectively. It also reports net income of $87.3 million for the quarter and $190.8 million year-to-date, as well as earnings available to common shareholders of $86.2 million and $188.7 million.
DTE Energy reported 2002 earnings of $632 million or $3.83 per diluted share, up 10% from 2001 operating earnings. Earnings for the fourth quarter of 2002 were $203 million or $1.21 per diluted share, down from 2001 operating earnings of $1.43 per diluted share. The company reaffirmed its 2003 earnings guidance of $3.90 to $4.10 per share despite anticipated challenges. By business unit, DTE Energy Resources contributed earnings growth while DTE Energy Distribution saw declines due to storm costs and DTE Energy Gas saw increases.
This annual report summarizes Dollar General's performance for the fiscal year ending February 3, 2006. Some key points:
- Dollar General grew net sales by 12% to $8.6 billion and net income by 2% to $350 million, with earnings per share of $1.08.
- The company opened 734 new stores, including 29 new Dollar General Markets, bringing the total store count to 7,929.
- Initiatives like EZstore and Project Gold Standard aimed to improve store operations and strengthen the organization. Nearly half of stores implemented the EZstore model by year-end.
- Leadership was enhanced with several new executive hires and a reorganization to better
Norfolk Southern Corporation's 2008 Annual Report summarizes the company's strong financial performance in 2008. Some key highlights include record operating revenues and income, an improved operating ratio of 71.1%, and continued growth in net income and earnings per share. The report also discusses Norfolk Southern's focus on safety, service quality, growing its business, supporting communities, and investing in infrastructure and technology to position the company for long-term success.
DTE Energy filed its second quarter 2003 Form 10-Q with the SEC, reporting a loss of $39 million compared to an unaudited loss of $23 million previously announced. This was due to less insurance coverage than expected for an April ice storm. Operating earnings for the quarter were $70 million, in line with the company's full-year 2003 operating earnings guidance of $3.10-$3.30 per share. The earnings revision did not impact the company's operating earnings outlook or internal performance measurements.
DTE Energy reported 2000 earnings of $468 million, down slightly from 1999. Earnings were impacted by one-time charges of $0.15 per share for a residential rate reduction and $0.12 per share for merger costs. Excluding these, earnings rose 6.3% to $3.54 per share. Non-regulated businesses contributed earnings of $0.59 per share, up 22% over 1999 due to new projects. While results were mixed due to weather and plant issues, cost controls and growth in commercial sales helped offset impacts.
DTE Energy reported strong financial results for 2001. Operating earnings excluding merger and restructuring charges were $536 million compared to $484 million in 2000, an increase of 10.7%. Overall earnings were $332 million compared to $468 million in 2000, reflecting merger-related charges. Non-regulated energy businesses exceeded their earnings target, contributing $162 million in net income. Looking ahead, DTE Energy expects its compound annual earnings growth rate to increase to between 6-8% by 2005 and provided earnings guidance of $3.70 to $4.00 per share for 2002.
DTE Energy reported second quarter 2001 operating earnings of $70 million compared to $108 million in the second quarter of 2000. While earnings were impacted by Michigan's electric restructuring legislation, the company remains on track to reach its projected full year earnings of $3.50 to $3.60 per share. The acquisition of MCN Energy was completed during the quarter, and earnings are expected to benefit in the second half of the year from the addition of MCN's gas operations and projected cost synergies from the merger. Several non-regulated businesses performed well during the quarter and are also expected to contribute to meeting the company's full year earnings projection.
Starbucks had a very successful fiscal year 2007, with revenue reaching $9.4 billion and net earnings of $673 million. However, the company saw slowing customer traffic in U.S. stores. In response, Starbucks' CEO Howard Schultz will lead a transformation of the company to refocus on coffee quality and the customer experience. Plans include improving U.S. stores, expanding internationally, and renewing Starbucks' heritage and innovation. Schultz is confident these steps will ensure long-term success and deliver value for customers, partners, and shareholders.
DTE Energy reported financial results for the second quarter and first six months of 1999. Operating revenues increased 8.1% and 8.2% respectively compared to the same periods in 1998. However, operating expenses grew at a faster rate, leading to declines in operating income and net income. Higher fuel and purchased power costs and increased operation and maintenance expenses, particularly related to year 2000 remediation, drove overall expense growth.
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion and net income increased 9.0% to $483 million. Cash from operations was $1.1 billion for the year.
DTE Energy Company reported financial results for the second quarter of 2000. Operating revenues increased 24.2% to $1.428 billion due to higher fuel and purchased power costs. Net income was $108 million, down slightly from $110 million in the previous year. Earnings per share were $0.76, unchanged from the prior year when excluding one-time items. For the six months ended June 30, 2000, operating revenues increased 20.1% to $2.610 billion, while net income was $224 million, relatively unchanged from the previous year.
DTE Energy Company reported financial results for the first quarter of 2000. Operating revenues increased 15.4% to $1.182 billion due to higher fuel and purchased power expenses. Net income rose 1.7% to $117 million. Earnings per share increased 2.6% to $0.81. Excluding merger costs, EPS rose 6.1% to $0.84. Detroit Edison, DTE Energy's regulated utility, saw revenues increase 4.1% but net income fell 7.2% due to higher fuel expenses. Non-regulated subsidiaries contributed significantly higher earnings from new projects and trading gains.
DTE Energy Company reported financial results for the first quarter of 1999. Operating revenues increased 8.4% to $1.024 billion compared to $945 million in the first quarter of 1998. However, operating expenses rose 13.6% to $809 million, resulting in a 7.7% decline in operating income to $215 million. Net income increased 10.6% to $115 million due to a lower effective tax rate, though earnings per share grew at a slower rate of 9.7% to $0.79 per share. Total sales volumes increased across all customer classes for the first quarter of 1999 compared to the prior year.
- DTE Energy Company and Subsidiary Companies provided a condensed consolidated statement of income and balance sheet for the third quarter of 2000 compared to the third quarter of 1999.
- Key highlights include operating revenues increased 7.4% to $1.547 billion driven by higher fuel and purchased power costs, while operating income decreased 38.8% to $172 million.
- Net income including one-time items decreased 35.2% to $104 million, while earnings per share decreased 38.8% to $0.73 per share compared to the prior year.
DTE Energy reported a 20% increase in net income for the first quarter of 2004 compared to the same period in 2003. Total operating revenues were relatively flat at $2.093 billion for the quarter. Operating expenses declined 8% due to lower fuel and purchased power costs. Operating income increased 68% due to cost reductions. After adjustments including a pipeline contract termination benefit, net income increased 19% and diluted earnings per share rose from $0.92 to $1.09.
This document provides supplemental information for investors regarding Monsanto Company, including forward-looking statements and selected financial highlights from 2005-2008. Key points include that Monsanto is the world's leading agriculture company focused on seeds and traits, with 2008 net sales of $11.3 billion. Financial highlights show significant growth in net income, earnings per share, EBIT, and free cash flow over the period. The document also provides a reconciliation of non-GAAP earnings per share and notes that approximately half of Monsanto's 2008 net sales came from North America.
This document provides supplemental information for investors regarding Monsanto Company, including forward-looking statements and selected financial highlights from 2005-2008. Key points include that Monsanto is the world's leading agriculture company focused on seeds and traits, with 2008 net sales of $11.3 billion, net income of $2 billion, and diluted earnings per share of $3.62. The document also provides a reconciliation of non-GAAP earnings measures and notes that over half of Monsanto's 2008 net sales came from North America.
Monsanto's corn seeds and traits generated 56% of sales and 62% of gross profit in 2008. Key corn products include DEKALB hybrid seeds and popular biotech traits such as YieldGard Corn Borer, Roundup Ready Corn 2, and YieldGard Rootworm. These traits help control pests and weeds and have seen strong adoption rates in major markets like the US, Brazil, and Argentina. Looking ahead, newer "triple stack" products that combine multiple traits are gaining traction.
Monsanto's corn seeds and traits generated 56% of sales and 62% of gross profit in 2008. Key products include DEKALB hybrid corn seed, Roundup Ready corn traits which provide herbicide tolerance, and YieldGard traits which provide insect protection. YieldGard traits have been adopted on over 100 million acres since 1997 and reduce the need for insecticide applications. Roundup Ready traits have been adopted on over 150 million acres since 1998 and simplify weed control. New triple-stack traits combine herbicide tolerance and insect protection.
Monsanto's corn seeds and traits generated 56% of sales and 62% of gross profit in 2008. Key products include DEKALB hybrid corn seed, Roundup Ready corn traits which provide herbicide tolerance, and YieldGard traits which provide insect protection. YieldGard traits have been adopted on over 100 million acres since 1997 and reduce the need for insecticide applications. Roundup Ready traits have been adopted on over 150 million acres since 1998 and simplify weed control. New triple-stack traits combine herbicide tolerance and insect protection.
This document provides supplemental information for investors regarding Monsanto Company, including forward-looking statements and key financial highlights from 2005-2008. It summarizes that Monsanto is a leading global agriculture company focused on seeds and traits, with 2008 net sales of $11.4 billion, net income of $2 billion, and diluted earnings per share of $3.62. Approximately 54% of Monsanto's 2008 net sales came from North America.
The document summarizes the financial performance of a company for the third quarter and first nine months of fiscal years 2007 and 2006. It shows that net sales increased 7% for the quarter and 5% year-to-date. Earnings from continuing operations increased 15% for the quarter and 14% year-to-date. The Household and Specialty segments saw increased sales and earnings growth while International saw moderate growth. Total assets were $3.69 billion with total liabilities of $3.60 billion, leaving stockholders' equity of $159 million.
DTE Energy reported second quarter earnings of $0.42 per share, down from $0.55 per share in the second quarter of 2001, excluding merger and restructuring expenses. For the first six months of 2002, earnings per share increased 8% compared to 2001. DTE Energy narrowed its full-year 2002 earnings guidance to $3.75-$3.95 per share and initiated 2003 guidance of $3.90-$4.10 per share. Solid performance from the electric utility and contributions from non-regulated businesses such as coal-based fuels helped achieve results despite uncertain impacts from weather and economic conditions.
The document summarizes the financial performance of a company for the second quarter and first half of 2006 compared to 2005. It shows that net sales increased 3% in the second quarter and 4% for the first half, while earnings from continuing operations rose 13% and 14% respectively. Earnings per share also increased. By segment, the Specialty Group and International segments saw higher sales and earnings growth, while the Household Group-North America declined slightly. The balance sheet indicates total assets of $3.6 billion with current liabilities of $1.5 billion and long-term debt of $1.5 billion.
This document summarizes the financial performance of a company for the third quarter and first six months of 2007 compared to the same periods in 2006. It shows that net sales increased 8% in the third quarter and 7% for the first six months. Earnings from continuing operations were $92 million in the third quarter and $203 million for the first six months. On a per share basis, diluted earnings from continuing operations were $0.65 per share for the third quarter and $1.41 per share for the first six months. The company's North America segment grew net sales 6% in the third quarter while the International segment grew 17%.
This document summarizes FirstEnergy's financial results for the fourth quarter of 2007. Some key points:
- Normalized non-GAAP earnings were $0.90 per share for Q4 2007, up from $0.84 per share in Q4 2006.
- GAAP earnings for Q4 2007 were $0.88 per share, up from $0.85 per share in Q4 2006.
- For the full year 2007, normalized non-GAAP earnings were $4.23 per share, near the guidance range, and up from $3.88 per share in 2006.
This document provides a consolidated report and financial highlights for FirstEnergy Corp for the 4th quarter of 2007. Some key points:
- Normalized non-GAAP earnings per share for Q4 2007 were $0.90 compared to $0.84 in Q4 2006.
- GAAP earnings per share for Q4 2007 were $0.88 compared to $0.85 in Q4 2006.
- Normalized non-GAAP earnings for 2007 were $4.23 per share, near the top of guidance range.
- 2008 earnings guidance range is $4.15 to $4.35 per share.
DTE Energy reported first quarter earnings of $138 million compared to $117 million in the first quarter of 2000. Revenue from non-regulated businesses increased 251% to $817 million, contributing to increased earnings. The results were positively impacted by the suspension of the fuel clause and the company expects to complete its merger with MCN Energy in June, which is an important part of DTE Energy's growth strategy.
Pepco Holdings, Inc. held an analyst conference on October 5-6, 2004 to discuss the company's performance. The presentation included an overview of PHI's businesses, strategy, and corporate governance practices. It noted PHI has $7.1 billion in revenues and focuses on its regulated electric and gas delivery business, which accounts for 72% of operating income. The Power Delivery segment was discussed, which includes the transmission and distribution of electricity to 1.8 million customers across several mid-Atlantic states.
The document discusses Joseph Rigby's presentation on the strategic positioning of Southeast Utilities. It summarizes the company's strategic focus on power delivery, Conectiv Energy, and Pepco Energy Services. It also outlines the goals for the power delivery business, including sales growth, infrastructure investment, operational excellence, and constructive regulatory outcomes to deliver average annual earnings growth of at least 4%. Key infrastructure projects are highlighted.
The document summarizes a presentation given by Joseph M. Rigby, CFO of Pepco Holdings, Inc. (PHI) at an investor conference on March 28, 2006. The presentation outlines PHI's strategy to remain a regional diversified energy delivery and competitive services company focused on operational excellence. It discusses PHI's power delivery business, Conectiv Energy, and Pepco Energy Services. The presentation also provides financial performance summaries and projections showing PHI's ability to cover dividends and capital expenditures with cash from operations.
The document provides an overview and summary of PHI's strategy and performance across its various business segments. PHI aims to remain a regional diversified energy delivery and competitive services company focused on value creation and operational excellence. Key aspects include achieving constructive regulatory outcomes and 4% annual earnings growth for its power delivery utilities, optimizing assets and market opportunities for Conectiv Energy, and expanding Pepco Energy Services into additional markets. Financial performance has been positively impacted by infrastructure investments and sales growth, though earnings have been reduced in some jurisdictions due to higher standard offer service pricing.
This document provides an overview of PHI and its strategy for positioning itself for success in a dynamic industry. PHI's strategy is to remain a diversified regional energy delivery and competitive services company focused on value creation and operational excellence. For its power delivery utility operations, PHI's goals are to operate with excellence, achieve constructive regulatory outcomes, invest in infrastructure, and deliver at least 4% annual average earnings growth. PHI's service territory has a robust economy that is less susceptible to downturns and includes diverse government and private sectors.
This document provides an overview of PHI's 41st EEI Financial Conference held from November 5-8, 2006. It includes sections on PHI's financial performance for Q3 and year-to-date 2006, drivers of performance, sales and customer trends, regulated distribution summaries, upcoming regulatory activities including transmission formula rate filings and rate cases, and PHI's proposed MAPP transmission project. Key highlights are lower sales due to mild weather, lower transmission revenue, and plans to file rate cases in late 2006/early 2007.
This document provides an overview and summary of Power Holdings Inc.'s (PHI) various business segments. It discusses PHI's regulated electric and gas delivery business, which accounts for 67% of operating income. It also summarizes Conectiv Energy's competitive merchant generation and load service business, which accounts for 33% of operating income. Key highlights from rate cases and recent regulatory activities involving PHI's delivery businesses are also provided. The document contains forward-looking statements and non-GAAP financial measures.
The document provides an overview of Pepco Holdings Inc.'s (PHI) power delivery business and regulatory environment. It summarizes PHI's sales and customer growth projections, infrastructure investment strategy including the proposed Mid-Atlantic Power Pathway transmission project and Blueprint for the Future initiative. Recent distribution rate case outcomes for PHI's utilities are also summarized. The document is intended as a presentation for investors on PHI's positioned for success through its regulated electric and gas delivery business.
The document provides an overview of Pepco Holdings Inc.'s (PHI) various businesses including its regulated electric and gas delivery business, competitive energy generation business, and energy services business. It discusses PHI's infrastructure investment strategies, the status of major projects like the Mid-Atlantic Power Pathway, and the company's regulatory environment. Financial projections show expectations for continued investment and growth across PHI's businesses.
The document discusses Pepco Holdings' strategic focus on infrastructure investments and customer programs to position the company for continued success. It outlines plans to invest $1.2 billion in the Mid-Atlantic Power Pathway transmission project through 2014 and $646 million in advanced metering infrastructure and other programs through the company's Blueprint for the Future initiative between 2008-2014. Regulatory support is essential for cost recovery for these investments, which aim to enhance reliability, manage costs and protect the environment for customers.
This document provides an overview of Pepco Holdings' transmission and distribution business. It discusses plans to invest over $5 billion from 2007-2012 to upgrade aging infrastructure and improve reliability. A key project is the $1.05 billion Mid-Atlantic Power Pathway, a 230-mile 500kV transmission line from Northern Virginia to Southern New Jersey to be completed by 2013. The presentation outlines the project timeline, environmental stewardship efforts, and cost recovery approach through PJM and FERC. It also reviews the company's focus on replacing aging transmission equipment to further enhance reliability.
The document provides an overview of Pepco Holdings, Inc.'s (PHI) strategy to build shareholder value. PHI aims to increase investment in infrastructure through its Blueprint programs to modernize its electric grid. It also plans growth for its competitive energy businesses, Conectiv Energy and Pepco Energy Services. PHI expects its regulated Power Delivery business to remain the primary driver of earnings, contributing 60-70% of operating income over the planning period through infrastructure investments and favorable regulatory outcomes.
This document provides an overview of Pepco Holdings, Inc.'s power delivery business. It discusses planned infrastructure investments totaling $4.99 billion from 2008-2012 to improve reliability, support load growth, and implement new technology. A key project is the $1.05 billion Mid-Atlantic Power Pathway transmission line. The document also reviews regulatory highlights, including recent rate cases, and outlines operational and financial summaries for the company's distribution and transmission businesses.
- Pepco Holdings held its annual meeting and provided its annual report to shareholders.
- In 2002, Pepco Holdings earned $210.5 million in consolidated earnings, or $1.61 per share. Earnings were driven by strong performance from regulated utility businesses and some competitive energy businesses.
- The letter discusses the company's strategy, leadership, and financial and operational performance across its various business segments in 2002. It also encourages shareholders to vote and continue supporting the company.
- Pepco Holdings provided its first annual report after merging Pepco and Conectiv in August 2002.
- In 2002, PHI earned $210.5 million, or $1.61 per share, on $4.3 billion in revenue. Excluding merger costs, earnings were $1.74 per share.
- The letter discusses the company's regulated utility and competitive energy businesses, noting stable earnings from utilities and growth potential from competitive businesses. It encourages shareholders to vote and thanks them for their confidence and investment.
This document provides a summary of Pepco Holdings' 2004 annual report and proxy statement. Key points include:
1) Pepco Holdings reported improved financial performance in 2004 with consolidated earnings of $258.7 million, up from $113.5 million in 2003, driven by improved performance of competitive energy businesses.
2) The company made progress on reducing debt and preferred stock by $480 million in 2004 and achieved a total shareholder return of over 22% for 2003-2004.
3) The regulated power delivery business continues as the primary focus and driver of steady cash flow. Earnings from this segment improved to $233.4 million in 2004.
4) Competitive energy businesses also posted
The document provides details on Pepco Holdings' 2003 performance and future plans. It discusses challenges faced in 2003 including an energy trading loss, Mirant's bankruptcy, and Hurricane Isabel. However, actions taken in 2003 such as divesting non-core businesses and reducing risk are expected to set the stage for future earnings growth. The company remains focused on strengthening its core power delivery business and improving customer satisfaction.
The document provides details on Pepco Holdings' 2003 performance and future plans. It discusses challenges faced in 2003 including an energy trading loss, Mirant's bankruptcy, and Hurricane Isabel. However, actions taken in 2003 such as divesting non-core businesses and reducing risk are expected to set the stage for future earnings growth. The company remains focused on strengthening its core power delivery business and improving customer satisfaction.
This document provides a summary of Pepco Holdings' 2004 annual report and proxy statement. Key points include:
1) Pepco Holdings reported improved financial performance in 2004 with consolidated earnings of $258.7 million, up from $113.5 million in 2003, driven by improved performance of competitive energy businesses.
2) The company made progress on reducing debt and preferred stock by $480 million in 2004 as part of its balance sheet improvement goals.
3) The regulated power delivery business continues as the primary focus due to its stability and cash generation. Earnings from this segment grew to $233.4 million in 2004.
4) Competitive energy businesses also posted profits in 2004 despite challenging markets
The document is the 2005 annual report and proxy statement from PHI (Pepco Holdings Inc.). It discusses PHI's strategy of focusing on stable power delivery and growing energy businesses. In 2005, PHI achieved earnings of $371.2 million and strengthened its balance sheet by paying down over $1 billion in debt. Rising energy prices present challenges for PHI and its customers. The proxy statement announces the annual meeting to elect directors and ratify the independent auditor.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Unlock Your Potential with NCVT MIS.pptxcosmo-soil
The NCVT MIS Certificate, issued by the National Council for Vocational Training (NCVT), is a crucial credential for skill development in India. Recognized nationwide, it verifies vocational training across diverse trades, enhancing employment prospects, standardizing training quality, and promoting self-employment. This certification is integral to India's growing labor force, fostering skill development and economic growth.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
1. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED STATEMENT OF INCOME (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Expect Per Share Amounts)
3 Months Sept. 30 After Tax
1999 1998 % Change $ Change EPS Impact *
Operating Revenues $1,440 $1,199 20.1% $241 $1.07
Operating Expenses
Fuel & Purchased power 510 359 42.2% 151 ($0.68)
Operation and maintenance 397 338 17.4% 59 ($0.26)
Depreciation and amortization 183 169 8.0% 14 ($0.06)
Taxes other than income 69 67 2.7% 2 ($0.01)
Total Operating Expenses $1,159 $933 24.3% $226 ($1.01)
Operating Income $281 $266 5.4% $15 $0.06
Interest Expense and Other
Interest Expense 95 83 14.5% $12 ($0.05)
Pref. Stock Dividend of Subsidiary 1 -100.0% (1) $0.00
Other Expense- net 4 4 -11.4% (0) $0.00
Net Interest Expense and Other $99 $88 12.1% $11 ($0.05)
Income Before Income Taxes $182 $178 2.2% $4 $0.01
Income Taxes 21 46 -54.0% (25) $0.19
Net Income $161 $132 21.8% $29 $0.20
Common Sh. Outstanding - Avg 145 145 0.00%
Earnings Per Common Share $1.11 $0.91 21.8% $0.20
* 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 4 Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235 - 8030 2
2. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED STATEMENT OF INCOME (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Expect Per Share Amounts)
9 Months September 30 After Tax
1999 1998 % Change $ Change EPS Impact *
Operating Revenues $3,614 $3,208 12.7% $406 $1.82
Operating Expenses
Fuel and Purchased power 1,063 852 24.8% 211 ($0.96)
Operation and Maintenance 1,086 906 19.9% 180 ($0.81)
Depreciation and amortization 547 496 10.3% 51 ($0.23)
Taxes other than income 211 207 1.9% 4 ($0.01)
Total Operating Expenses $2,907 $2,461 18.1% $446 ($2.00)
Operating Income $707 $747 -5.4% ($40) ($0.18)
Interest Expense and Other
Interest Expense 260 236 10.2% 24 ($0.11)
Pref. Stock Dividend of Subsidiary - 6 -100.0% (6) $0.03
Other - net 13 9 47.7% (4) ($0.02)
Net Interest Expense and Other $273 $251 8.9% $22 ($0.10)
Income Before Income Taxes $434 $496 -12.6% ($62) ($0.28)
Income Taxes $48 $159 -69.8% (111) $0.62
Net Income $386 $337 14.4% $49 $0.34
Common Sh. Outstanding - Avg 145 145 0.00%
Earnings Per Common Share $2.66 $2.32 14.4% $0.34
* 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
Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235-8030 3
3. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
Earnings Analysis - Detail 3rd Quarter
Change from 09/30/98 After-Tax
Per Share Impact
Beginning Earnings Per Share $0.91
Regulated Operating Revenues
Net System Sales $0.13
Incremental Rate Reduction in 1999 ($0.08)
1998 Fermi 2 Performance Reserve $0.15
Total Regulated Net Revenues $0.20
Regulated Oper. & Maintenance Expense
Storms and Heat-Related Trouble (0.08)
Other (0.04)
Taxes other than income (0.01)
Regulated Oper. & Maintenance Expense ($0.13)
Depreciation & Amortization ($0.06)
Interest Expense ($0.04)
Income Taxes $0.13
Due to full normalization of Fermi regulatory assets in
1999
Regulated Net Income (Detroit Edison) $0.10
Non-Regulated Net Income:
Increased income due to full year operations of Burns
Harbor coke battery, slightly offset by Plug Power
losses $0.08
Subtotal: Non-Regulated Subsidiaries $0.08
DTE Energy Holding and DTE Capital Inc. $0.02
Earnings Per Share Change $0.20
DTE Energy Ending Earnings Per Share $1.11
Differences may exist due to rounding.
DTE Investor Relations (313) 235-8030 4
4. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
TRAILING 12-MONTH ANALYSIS - REPORTED EPS
As of September 30, 1999
Detroit Edison
4Q 1Q 2Q 3Q Total EPS Growth (%)
1998 $0.87 $0.66 $0.64 $0.85 $3.02
1999 $0.68 $0.71 $0.74 $0.95 $3.08 2.0%
Non-Regulated Subsidiaries (Additional Detail Provided Below)
4Q 1Q 2Q 3Q Total
1998 $0.03 $0.06 $0.07 $0.07 $0.23
1999 $0.09 $0.10 $0.07 $0.16 $0.41
DTE Capital / DTE Holding Company
4Q 1Q 2Q 3Q Total
1998 ($0.01) $0.00 ($0.02) ($0.01) ($0.04)
1999 ($0.04) ($0.02) ($0.05) $0.00 ($0.11)
DTE Energy Company
4Q 1Q 2Q 3Q Total EPS Growth (%)
1998 $0.89 $0.72 $0.69 $0.91 $3.21
1999 $0.73 $0.79 $0.76 $1.11 $3.39 5.4%
1999 Non-Regulated Earnings Per Share by Activity *
1Q 2Q 3Q 4Q Total
Coal Related $0.11 $0.11 $0.19 $0.41
Renewables $0.01 $0.00 $0.01 $0.02
Market Development ($0.01) ($0.03) ($0.02) ($0.06)
Plug Power, LLC ($0.01) ($0.02) ($0.02) ($0.04)
Other $0.00 $0.00 $0.00 $0.00
Total Non-Regulated Subsidiaries $0.10 $0.07 $0.16 $0.00 $0.33
DTE Capital / DTE Holding Co. ($0.02) ($0.05) $0.00 ($0.07)
Total 1999 Non-Regulated EPS $0.08 $0.02 $0.16 $0.00 $0.26
* Differences may exist due to rounding
DTE Investor Relations (313) 235-8030 5
5. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED BALANCE SHEET (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Expect Per Share Amounts)
Percent
ASSETS Sept. 30, 1999 Dec. 31, 1998 Change
Current Assets
Cash and Cash Equivalents $54 $130 -58.6%
Restricted Cash 317 121 161.8%
Acounts Receivable
Customer (less allowance for doubtful
accounts of $21 and $20, respectively) 437 316 38.4%
Accrued Unbilled Revenues 154 153 0.7%
Other 97 135 -27.9%
Inventories (at average cost)
Fuel 148 171 -13.3%
Materials and Supplies 160 167 -4.4%
Other 88 39 125.8%
Total Current Assets $1,455 $1,232 18.1%
Investments
Nuclear Decommissioning Trust Funds 337 309 9.0%
Other 229 261 -12.3%
$566 $570 -0.8%
Property
Property, Plant and Equipment 11,580 11,121 4.1%
Property under Capital Leases 222 242 -8.2%
Nuclear Fuel under Capital Lease 662 659 0.5%
Construction Work in Progress 108 156 -30.6%
$12,572 $12,178 3.2%
Less Accumulated Depreciation & Amortization 5,508 5,235 5.2%
7,065 6,943 1.8%
Regulatory Assets 2,972 3,091 -3.9%
Other Assets 259 252 2.8%
Total Assets $12,316 $12,088 1.9%
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
6. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED BALANCE SHEET (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Except Per Share Amounts)
Percent
LIABILITIES Sept. 30, 1999 Dec. 31, 1998 Change
Current Liabilities
Accounts Payable $215 $239 -10.2%
Accrued Interest 53 57 -6.5%
Dividends Payable 75 75 -0.4%
Accrued Payroll 86 101 -15.0%
Short-term Borrowings 296 231 28.2%
Income taxes 73 69 5.3%
Current Portion Long-term Debt 566 294 92.4%
Current Portion Capital Leases 87 118 -26.5%
Other 242 208 16.3%
$1,692 $1,392 21.5%
Other Liabilities
Deferred Income Taxes 1,902 1,888 0.7%
Capital Leases 118 126 -6.5%
Regulatory Liabilities 230 294 -21.7%
Other 532 493 7.9%
2,782 2,801 -0.7%
Long-Term Debt $3,985 $4,197 -5.1%
Shareholder's Equity
Common Stock, without par value, 400,000,000 shares
authorized, 145,045,159 and 145,071,317 issued and
outstanding, respectively 1,950 1,951 0.0%
Retained Earnings 1,908 1,747 9.2%
Total Shareholder's Equity $3,858 $3,698 4.3%
Total Liabilities and Shareholder's Equity $12,316 $12,088 1.9%
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
7. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(PRELIMINARY/UNAUDITED)
(Dollars in Millions, Except Per Share Amounts)
9 Months Ended Sept 30
1999 1998
Operating Activities
Net Income $386 $337
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and Amortization 518 474
Other (41) (111)
Changes in current assets and liabilities:
Restricted Cash (196) (70)
Accounts Receivable (85) (89)
Inventories 30 (36)
Payables (44) 51
Other (16) 44
Net cash from operating activities $552 $600
Investing Activities
Plant and Equipment Expenditures (491) (632)
Removal Costs (39) (23)
Investment in coke oven battery business (195)
Net cash used for investing activities ($530) ($850)
Financing Activities
Issuance of Long-term Debt $264 $363
Increase (Decrease) in Short-term Borrowings 65 356
Redemption of Long-term Debt (204) (187)
Redemption of Preferred Stock - (100)
Dividends on Common Stock (224) (224)
Other - 3
Net cash used for financing activities ($99) $211
Net Increase (Decrease) in Cash and Temporary Cash Investments (77) (38)
Cash and Cash Equivalents at Beginning of the Period 131 99
Cash and Cash Equivalents at End of the Period $54 $60
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
8. THE DETROIT EDISON COMPANY
STATEMENT OF INCOME (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Expect Per Share Amounts)
3 Months Sept. 30 After Tax
1999 1998 % Change $ Change EPS Impact *
Operating Revenues $1,211 $1,105 9.6% $106 $0.48
Operating Expenses
Fuel & Purchased power 405 344 17.7% 61 ($0.27)
Operation and maintenance 275 249 10.4% 26 ($0.12)
Depreciation and amortization 176 162 8.6% 14 ($0.06)
Taxes other than income 69 66 4.5% 3 ($0.01)
Total Operating Expenses $925 $821 12.7% $104 ($0.47)
Operating Income $286 $284 0.7% $2 $0.01
Interest Expense and Other
Interest Expense 82 72 13.9% $10 ($0.04)
Other Expense- net 1 3 -66.7% (2) ($0.00)
Net Interest Expense and Other $83 $75 10.7% $8 ($0.04)
Income Before Income Taxes $203 $209 -2.9% ($6) ($0.03)
Income Taxes 65 84 -22.6% ($19) $0.13
Net Income $138 $125 10.4% $13 $0.10
Preferred Stock Dividends - $1 -100.0% ($1) 0.00
Net Income Available for Common Stock $138 $124 11.0% $14 $0.10
* 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 4 Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235 - 8030 9
9. THE DETROIT EDISON COMPANY
STATEMENT OF INCOME (PRELIMINARY/UNAUDITED)
(Dollars in Millions, Expect Per Share Amounts)
9 Months Sept. 30 After Tax
1999 1998 % Change $ Change EPS Impact *
Operating Revenues $3,128 $2,998 4.3% $130 $0.58
Operating Expenses
Fuel and Purchased power 888 818 8.6% 70 (0.31)
Operation and Maintenance 773 719 7.5% 54 (0.24)
Depreciation and amortization 522 486 7.4% 36 (0.16)
Taxes other than income 210 206 1.9% 4 (0.02)
Total Operating Expenses $2,393 $2,229 7.4% $164 (0.74)
Operating Income $735 $769 -4.4% ($34) ($0.15)
Interest Expense and Other
Interest Expense 219 208 5.3% 11 ($0.05)
Other - net 3 13 -76.9% (10) $0.04
Net Interest Expense and Other $222 $221 0.5% $1 ($0.01)
Income Before Income Taxes $513 $548 -6.4% ($35) ($0.16)
Income Taxes $164 $230 -28.6% ($66) $0.38
Net Income $349 $318 9.6% $31 $0.22
Preferred Stock Dividends $6 -100.0% ($6) $0.04
Net Income Available for Common Stock $349 $312 11.6% $36 $0.26
* 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
Annual Report to Shareholders, 10K, and 10Q.
DTE Investor Relations (313) 235-8030 10
10. DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
SELECTED FINANCIAL RATIOS (PRELIMINARY/UNAUDITED)
Twelve Months Ended
September
1999 1998
Coverage Ratios (SEC Basis):
2.42 2.96
Ratio of Earnings to Fixed Charges (SEC Basis)
Ratio of Earnings to Fixed Charges
2.52 3.10
(Excluding Non-Recourse Debt Interest Expense)
13.2% 13.0%
Return on Average Common Equity
12.7% 12.8%
Return on Average Common Equity (Detroit Edison - Electirc & Steam)
60.7% 64.2%
Common Stock Dividend Payout
135.3% 113.1%
Funds Generated Internally for Construction
8.1% 32.6%
Effective Federal Income Tax Rate
$26.60 $25.25
Book Value Per Common Share
Capital Structure
1999 1998
Traditional Method
49.2% 47.6%
Common Shareholders' Equity
0.0% 0.6%
Preferred Stock
4.9% 4.3%
Deeply Subordinated Debt (QUIDS)
45.9% 47.5%
Long-Term Debt
100% 100%
Total
Rating Agency Method
43.3% 43.0%
Common Shareholders' Equity
(1)
4.3% 4.5%
Preferred Stock & Deeply Subordinated Debt (QUIDS)
Long-Term Debt (2) 52.4% 52.5%
100% 100%
Total
Capital Structure
(Excluding Non-Recourse Debt)
1999 1998
Traditional Method
51.0% 50.1%
Common Shareholders' Equity
0.0% 0.6%
Preferred Stock
5.1% 4.6%
Deeply Subordinated Debt (QUIDS)
43.9% 44.7%
Long-Term Debt
100% 100%
Total
Rating Agency Method
45.2% 45.3%
Common Shareholders' Equity
Preferred Stock & Deeply Subordinated Debt (QUIDS) (1) 4.5% 4.7%
Long-Term Debt (2) 50.3% 50.0%
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 11
11. 1999 SALES ANALYSIS
(GWH)
Sales As
3Q 3Q % Chg YTD YTD % Chg % of
Category 1999 1998 1999 1999 1998 YTD 99 Total
Residential 4,231 4,149 2.0% 10,954 10,617 3.2% 26.2%
Commercial
Secondary 2,834 2,832 0.1% 8,021 7,838 2.3% 19.2%
Primary 2,426 2,461 -1.5% 6,822 6,596 3.4% 16.3%
Total Commercial 5,260 5,294 -0.6% 14,843 14,434 2.8% 35.5%
Industrial
Automotive 2,282 1,905 19.8% 5,982 5,552 7.7% 14.3%
Steel 749 727 3.0% 2,113 2,177 -2.9% 5.0%
Other Manufacturing 1,150 1,131 1.7% 3,531 3,380 4.5% 8.4%
Total Industrial 4,182 3,764 11.1% 11,626 11,109 4.7% 27.8%
Other 642 570 12.6% 1,900 1,722 10.3% 4.5%
Total System Sales 14,314 13,777 3.9% 39,324 37,883 3.8% 94.0%
Interconnection 620 838 -26.0% 2,532 3,594 -29.6% 6.0%
Total Sales 14,934 14,615 2.2% 41,855 41,477 0.9% 100.0%
Third Quarter Heating and Cooling Degree Day Data
1999 1998 % Change
Heating Degree Days 84 46 82.6%
Cooling Degree Days 647 667 -3.0%
Finance and Investor Relations (313) 235-8030 12