EXHIBIT 99.2
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DTE Energy Debt/Equity Calculation
As of June 30, 2014
($ millions)
Short-term borrowings | $ | 511 | |
Current portion of long-term debt, including capital leases | 229 | ||
Mortgage bonds, notes and other | 7,329 | ||
Capital lease obligations | 4 | ||
Other adjustments | 256 | ||
less Securitization bonds, including current portion | (201 | ) | |
50% Junior Subordinated Debentures | 240 | ||
Total debt | 8,368 | ||
50% Junior Subordinated Debentures | 240 | ||
Common equity | 8,026 | ||
Total adjusted equity | 8,266 | ||
Total capitalization | $ | 16,634 | |
Debt | 50.3 | % | |
Adjusted equity | 49.7 | % | |
Total | 100 | % |
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Sales Analysis - Q2 2014 | ||||||||||||||||||||
Electric Sales - DTE Electric Service Area (GWh) | Electric Billings - DTE Electric Service Area (000s) | |||||||||||||||||||
Q2 2014 | Q2 2013 | % Change | Q2 2014 | Q2 2013 | % Change | |||||||||||||||
Residential | 3,452 | 3,345 | 3 | % | Residential | $ | 504,164 | $ | 532,433 | (5 | )% | |||||||||
Commercial | 4,168 | 4,158 | — | % | Commercial | 441,828 | 477,319 | (7 | )% | |||||||||||
Industrial | 2,554 | 2,675 | (5 | )% | Industrial | 192,527 | 210,984 | (9 | )% | |||||||||||
Other | 171 | 216 | (21 | )% | Other | 22,896 | 26,870 | (15 | )% | |||||||||||
10,345 | 10,394 | 0 | % | $ | 1,161,415 | $ | 1,247,606 | (7 | )% | |||||||||||
Choice | 1,237 | 1,287 | (4 | )% | Choice | 23,079 | 24,222 | (5 | )% | |||||||||||
TOTAL SALES | 11,582 | 11,681 | (1 | )% | TOTAL BILLINGS | $ | 1,184,494 | $ | 1,271,828 | (7 | )% |
Gas Sales - DTE Gas Service Area (MMcf) | Gas Billings - DTE Gas Service Area (000s) | |||||||||||||||||||
Q2 2014 | Q2 2013 | % Change | Q2 2014 | Q2 2013 | % Change | |||||||||||||||
Residential | 13,588 | 14,192 | (4 | )% | Residential | $ | 127,152 | $ | 137,548 | (8 | )% | |||||||||
Commercial | 3,199 | 3,024 | 6 | % | Commercial | 28,046 | 28,406 | (1 | )% | |||||||||||
Industrial | 145 | 85 | 71 | % | Industrial | 1,028 | 637 | 61 | % | |||||||||||
16,932 | 17,301 | (2 | )% | $ | 156,226 | $ | 166,591 | (6 | )% | |||||||||||
End User Transportation* | 31,523 | 32,043 | (2 | )% | End User Transportation* | 43,495 | 44,637 | (3 | )% | |||||||||||
TOTAL SALES | 48,455 | 49,344 | (2 | )% | TOTAL BILLINGS | $ | 199,721 | $ | 211,228 | (5 | )% | |||||||||
________________ | ________________ | |||||||||||||||||||
* Includes choice customers | * Includes choice customers |
Weather | ||||||||||||||||||
Cooling Degree Days | Heating Degree Days | |||||||||||||||||
DTE Electric service territory | DTE Gas service territory | |||||||||||||||||
Q2 2014 | Q2 2013 | % Change | Q2 2014 | Q2 2013 | % Change | |||||||||||||
Actuals** | 240 | 205 | 17 | % | Actuals | 780 | 818 | (5 | )% | |||||||||
Normal | 215 | 215 | — | % | Normal | 774 | 757 | 2 | % | |||||||||
Deviation from normal | 12 | % | (5 | )% | Deviation from normal | 1 | % | 8 | % |
Earnings Impact of Weather | |||||||
Variance from normal weather ($ millions, after-tax) | |||||||
Q2 2014 | Q2 2013 | ||||||
DTE Electric | $ | 3 | $ | (2 | ) | ||
DTE Gas | 1 | 4 |
**2013 CDDs adjusted/normalized to reflect actual customer response to weather; AMI usage data demonstrates non-linear response to weather variation
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Sales Analysis - YTD June 30, 2014 | ||||||||||||||||||||
Electric Sales - DTE Electric Service Area (GWh) | Electric Billings - DTE Electric Service Area (000s) | |||||||||||||||||||
YTD 2014 | YTD 2013 | % Change | YTD 2014 | YTD 2013 | % Change | |||||||||||||||
Residential | 7,430 | 7,199 | 3 | % | Residential | $ | 1,078,837 | $ | 1,111,169 | (3 | )% | |||||||||
Commercial | 8,216 | 8,081 | 2 | % | Commercial | 865,403 | 918,748 | (6 | )% | |||||||||||
Industrial | 5,055 | 5,111 | (1 | )% | Industrial | 391,554 | 397,238 | (1 | )% | |||||||||||
Other | 376 | 468 | (20 | )% | Other | 45,756 | 53,334 | (14 | )% | |||||||||||
21,077 | 20,859 | 1 | % | $ | 2,381,550 | $ | 2,480,489 | (4 | )% | |||||||||||
Choice | 2,504 | 2,547 | (2 | )% | Choice | 46,498 | 47,242 | (2 | )% | |||||||||||
TOTAL SALES | 23,581 | 23,406 | 1 | % | TOTAL BILLINGS | $ | 2,428,048 | $ | 2,527,731 | (4 | )% |
Gas Sales - DTE Gas Service Area (MMcf) | Gas Billings - DTE Gas Service Area (000s) | |||||||||||||||||||
YTD 2014 | YTD 2013 | % Change | YTD 2014 | YTD 2013 | % Change | |||||||||||||||
Residential | 69,017 | 59,749 | 16 | % | Residential | $ | 565,162 | $ | 507,531 | 11 | % | |||||||||
Commercial | 16,450 | 13,683 | 20 | % | Commercial | 130,747 | 113,142 | 16 | % | |||||||||||
Industrial | 620 | 302 | 105 | % | Industrial | 7,089 | 2,274 | 212 | % | |||||||||||
86,087 | 73,734 | 17 | % | $ | 702,998 | $ | 622,947 | 13 | % | |||||||||||
End User Transportation* | 93,986 | 87,607 | 7 | % | End User Transportation* | 140,156 | 129,798 | 8 | % | |||||||||||
TOTAL SALES | 180,073 | 161,341 | 12 | % | TOTAL BILLINGS | $ | 843,154 | $ | 752,745 | 12 | % | |||||||||
________________ | ________________ | |||||||||||||||||||
* Includes choice customers | * Includes choice customers |
Weather | ||||||||||||||||||
Cooling Degree Days | Heating Degree Days | |||||||||||||||||
DTE Electric service territory | DTE Gas service territory | |||||||||||||||||
YTD 2014 | YTD 2013 | % Change | YTD 2014 | YTD 2013 | % Change | |||||||||||||
Actuals | 240 | 205 | 17 | % | Actuals | 4,757 | 4,046 | 18 | % | |||||||||
Normal | 215 | 215 | — | % | Normal | 3,949 | 3,898 | 1 | % | |||||||||
Deviation from normal | 12 | % | (5 | )% | Deviation from normal | 20 | % | 4 | % |
Earnings Impact of Weather | |||||||
Variance from normal weather ($ millions, after-tax) | |||||||
YTD 2014 | YTD 2013 | ||||||
DTE Electric | $ | 16 | $ | (2 | ) | ||
DTE Gas | 32 | 7 |
**2013 CDDs adjusted/normalized to reflect actual customer response to weather; AMI usage data demonstrates non-linear response to weather variation
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DTE Electric Temperature Normal Sales Analysis - YTD June 30, 2014 | ||||||||
Temperature Normal Electric Sales - DTE Electric Service Area (GWh) | ||||||||
YTD 2014 | YTD 2013 | % Change | ||||||
Residential | 7,176 | 7,224 | (1 | )% | ||||
Commercial | 8,133 | 8,091 | 1 | % | ||||
Industrial | 5,053 | 5,111 | (1 | )% | ||||
Other | 377 | 469 | (20 | )% | ||||
20,739 | 20,895 | (1 | )% | |||||
Choice | 2,489 | 2,547 | (2 | )% | ||||
TOTAL SALES | 23,228 | 23,442 | (1 | )% |
Temperature Normal Electric Sales - DTE Electric Service Area (Includes Electric Choice) (GWh) | ||||||||
YTD 2014 | YTD 2013 | % Change | ||||||
Residential | 7,176 | 7,224 | (1 | )% | ||||
Commercial | 9,618 | 9,576 | — | % | ||||
Industrial | 6,057 | 6,173 | (2 | )% | ||||
Other | 377 | 469 | (20 | )% | ||||
TOTAL SALES | 23,228 | 23,442 | (1 | )% |