DTE Electric 8-K DTE Energy 2009 earnings solid despite economy

Exhibit 99.2

Full Year 2009 Supplemental Financial Information

February 22, 2010

DTE Energy Company
Consolidated Statements of Financial Position (Unaudited)

	December 31
	2009			2008
	(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$	52		$	86
Restricted cash		84			86
Accounts receivable (less allowance for doubtful accounts of $262 and $265, respectively)
Customer		1,438			1,666
Other		217			166
Inventories
Fuel and gas		309			333
Materials and supplies		200			206
Deferred income taxes		167			227
Derivative assets		209			316
Other		201			242
		2,877			3,328
Investments
Nuclear decommissioning trust funds		817			685
Other		598			595
		1,415			1,280
Property
Property, plant and equipment		20,588			20,065
Less accumulated depreciation, depletion and amortization		(8,157	)		(7,834	)
		12,431			12,231
Other Assets
Goodwill		2,024			2,037
Regulatory assets		4,110			4,231
Securitized regulatory assets		870			1,001
Intangible assets		54			70
Notes receivable		113			115
Derivative assets		116			140
Other		185			157
		7,472			7,751
Total Assets	$	24,195		$	24,590

DTE Energy Company
Consolidated Statements of Financial Position (Unaudited)

	December 31
	2009			2008
	(In millions, except shares)
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	723		$	899
Accrued interest		114			119
Dividends payable		88			86
Short-term borrowings		327			744
Current portion long-term debt, including capital leases		671			362
Derivative liabilities		220			285
Other		502			518
		2,645			3,013
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		6,237			6,458
Securitization bonds		793			932
Trust preferred-linked securities		289			289
Capital lease obligations		51			62
		7,370			7,741
Other Liabilities
Deferred income taxes		2,096			1,958
Regulatory liabilities		1,337			1,202
Asset retirement obligations		1,420			1,340
Unamortized investment tax credit		85			96
Derivative liabilities		198			344
Liabilities from transportation and storage contracts		96			111
Accrued pension liability		881			871
Accrued postretirement liability		1,287			1,434
Nuclear decommissioning		136			114
Other		328			328
		7,864			7,798
Equity
Common stock, without par value, 400,000,000 shares authorized, 165,400,045 and 163,019,596 shares issued and outstanding, respectively		3,257			3,175
Retained earnings		3,168			2,985
Accumulated other comprehensive loss		(147	)		(165	)
Total DTE Energy Company Shareholders’ Equity		6,278			5,995
Noncontrolling interests		38			43
Total Equity		6,316			6,038
Total Liabilities and Equity	$	24,195		$	24,590

DTEEnergy Company
Consolidated Statements of Cash Flows (Unaudited)

	Year Ended December 31
	2009			2008			2007
	(In millions)
Operating Activities
Net income	$	535		$	553		$	787
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		1,020			899			926
Deferred income taxes		205			348			144
Gain on sale of non-utility business		—			(128	)		(900	)
Other asset (gains), losses and reserves, net		(10	)		(4	)		(9	)
Gain on sale of interests in synfuel projects		—			(31	)		(248	)
Impairment of synfuel projects		—			—			4
Contributions from synfuel partners		—			14			229
Changes in assets and liabilities, exclusive of changes shown separately		69			(92	)		192
Net cash from operating activities		1,819			1,559			1,125
Investing Activities
Plant and equipment expenditures — utility		(960	)		(1,183	)		(1,035	)
Plant and equipment expenditures — non-utility		(75	)		(190	)		(264	)
Proceeds from sale of interests in synfuel projects		—			84			447
Refunds to synfuel partners		—			(387	)		(115	)
Proceeds from sale of non-utility business		—			253			1,262
Proceeds from sale of other assets, net		83			25			85
Restricted cash for debt redemption		2			54			6
Proceeds from sale of nuclear decommissioning trust fund assets		295			232			286
Investment in nuclear decommissioning trust funds		(315	)		(255	)		(323	)
Other investments		(94	)		(156	)		(19	)
Net cash from (used) for investing activities		(1,064	)		(1,523	)		330
Financing Activities
Issuance of long-term debt		427			1,310			50
Redemption of long-term debt		(417	)		(446	)		(393	)
Repurchase of long-term debt		—			(238	)		—
Short-term borrowings, net		(454	)		(340	)		(47	)
Issuance of common stock		35			—			—
Repurchase of common stock		—			(16	)		(708	)
Dividends on common stock		(348	)		(344	)		(364	)
Other		—			(10	)		(6	)
Net cash used for financing activities		(789	)		(84	)		(1,468	)
Net Increase Decrease in Cash and Cash Equivalents		(34	)		(48	)		(13	)
Cash and Cash Equivalents Reclassified (to) from Assets Held for Sale		—			11			(11	)
Cash and Cash Equivalents at Beginning of Period		86			123	��		147
Cash and Cash Equivalents at End of Period	$	52		$	86		$	123

The Detroit Edison Company
Consolidated Statements of Operations (Unaudited)

	Year Ended December 31
(in Millions)	2009			2008			2007
Operating Revenues	$	4,714		$	4,874		$	4,900
Operating Expenses
Fuel and purchased power		1,491			1,778			1,686
Operation and maintenance		1,277			1,322			1,422
Depreciation and amortization		844			743			764
Taxes other than income		205			232			277
Asset (gains) losses and reserves, net		(2	)		(1	)		8
		3,815			4,074			4,157
Operating Income		899			800			743
Other (Income) and Deductions
Interest expense		325			293			294
Interest income		(2	)		(6	)		(7	)
Other income		(39	)		(51	)		(40	)
Other expenses		11			47			30
		295			283			277
Income Before Income Taxes		604			517			466
Income Tax Provision		228			186			149
Net Income	$	376		$	331		$	317

MICHIGAN CONSOLIDATED GAS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Year Ended December 31
(in Millions)	2009			2008			2007
Operating Revenues	$	1,765		$	2,115		$	1,842
Operating Expenses
Cost of gas		1,037			1,351			1,139
Operation and maintenance		411			464			422
Depreciation and amortization		109			102			93
Taxes other than income		48			47			55
Asset gains, net		(30	)		(26	)		(3	)
		1,575			1,938			1,706
Operating Income		190			177			136
Other (Income) and Deductions
Interest expense		67			65			60
Interest income		(8	)		(8	)		(10	)
Other income		(8	)		(11	)		(12	)
Other expenses		6			13			4
		57			59			42
Income Before Income Taxes		133			118			94
Income Tax Provision		40			38			23
Net Income	$	93		$	80		$	71

DTE Energy Debt/Equity Calculation
As of December 31, 2009
($ millions)

Short-term borrowings	$	327
Current portion of long-term debt, including capital leases		671
Mortgage bonds, notes and other		6,237
Securitization bonds, excluding current portion		793
Capital lease obligations		51
less MichCon short-term debt		(327	)
less Securitization bonds, including current portion		(933	)
Total debt		6,819
Trust preferred-linked securities		289
Total preferred/ other		289
Equity		6,278
Total capitalization	$	13,386
Debt		50.9	%
Preferred		2.2	%
Common shareholders’ equity		46.9	%
Total		100.0	%

Sales Analysis — Q4 2009

Electric Sales — Detroit Edison Service Area (GWh)

	Q4 2009		Q4 2008		% Change
Residential		3,633		3,537		3	%
Commercial		4,436		4,573		-3	%
Industrial		2,339		3,012		-22	%
Other		829		811		2	%
		11,237		11,933		-6	%
Choice		479		377		27	%
TOTAL SALES		11,716		12,310		-5	%

Electric Revenue — Detroit Edison Service Area ($000s)

	Q4 2009		Q4 2008		% Change
Residential		471,479		400,449		18	%
Commercial		423,775		431,144		-2	%
Industrial		159,653		208,767		-24	%
Other		44,679		44,022		1	%
		1,099,586		1,084,382		1	%
Choice		11,737		10,622		10	%
TOTAL REVENUES		1,111,323		1,095,004		1	%

Gas Sales — MichCon Service Area (MMcf)

	Q4 2009		Q4 2008		% Change
Residential		31,877		36,594		-13	%
Commercial		7,906		10,969		-28	%
Industrial		752		339		122	%
		40,535		47,902		-15	%
End User Transportation*		37,906		32,426		17	%
TOTAL SALES		78,441		80,328		-2	%

^* Includes choice customers

Gas Revenue — MichCon Service Area ($000s)

	Q4 2009		Q4 2008		% Change
Residential		332,455		406,985		-18	%
Commercial		82,616		120,611		-32	%
Industrial		7,232		3,488		107	%
		422,303		531,084		-20	%
End User Transportation*		43,091		39,166		10	%
TOTAL REVENUES		465,394		570,250		-18	%

^* Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory

	Q4 2009			Q4 2008			% Change
Actuals		0			0			N/A
Normal		6			6
Deviation from normal		-100	%		-100	%

Heating Degree Days
MichCon service territory

	Q4 2009			Q4 2008			% Change
Actuals		2,265			2,446			-7	%
Normal		2,350			2,350
Deviation from normal		-4	%		4	%

Earnings Impact of Weather
Variance from normal weather ($millions, after-tax)

	Q4 2009			Q4 2008
Detroit Edison		(5	)		1	Milder weather reduced Detroit Edison’s earnings by $5M Q4 2009
MichCon		(3	)		3	Milder weather reduced MichCon’s earnings by $3M Q4 2009

Sales Analysis — YTD December 31, 2009

Electric Sales — Detroit Edison Service Area (GWh)

	YTD 2009		YTD 2008		% Change
Residential		14,625		15,493		-6	%
Commercial		18,200		18,920		-4	%
Industrial		9,922		13,086		-24	%
Other		3,229		3,217		0	%
		45,976		50,716		-9	%
Choice		1,477		1,458		1	%
TOTAL SALES		47,453		52,174		-9	%

Electric Revenue — Detroit Edison Service Area ($000s)

	YTD 2009		YTD 2008		% Change
Residential		1,819,497		1,726,154		5	%
Commercial		1,702,367		1,753,228		-3	%
Industrial		729,987		893,461		-18	%
Other		176,331		175,761		0	%
		4,428,182		4,548,604		-3	%
Choice		39,556		34,371		15	%
TOTAL REVENUES		4,467,738		4,582,975		-3	%

Gas Sales — MichCon Service Area (MMcf)

	YTD 2009		YTD 2008		% Change
Residential		103,264		109,684		-6	%
Commercial		29,830		35,231		-15	%
Industrial		1,617		1,015		59	%
		134,711		145,930		-8	%
End User Transportation*		124,472		122,224		2	%
TOTAL SALES		259,183		268,154		-3	%

^* Includes choice customers

Gas Revenue — MichCon Service Area ($000s)

	YTD 2009		YTD 2008		% Change
Residential		1,072,679		1,237,581		-13	%
Commercial		305,344		389,503		-22	%
Industrial		14,756		11,015		34	%
		1,392,779		1,638,099		-15	%
End User Transportation*		146,368		143,599		2	%
TOTAL REVENUES		1,539,147		1,781,698		-14	%

^* Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory

	YTD 2009			YTD 2008			% Change
Actuals		575			759			-24	%
Normal		736			736
Deviation from normal		-22	%		3	%

Heating Degree Days
MichCon service territory

	YTD 2009			YTD 2008			% Change
Actuals		6,623			6,682			-1	%
Normal		6,696			6,724
Deviation from normal		-1	%		-1	%

Earnings Impact of Weather
Variance from normal weather ($millions, after-tax)

	YTD 2009			YTD 2008
Detroit Edison		(43	)		2	Colder weather reduced Detroit Edison's earnings by $43M YTD 2009
MichCon		(2	)		—	Milder weather decreased MichCon's earnings by $2M YTD 2009