DTE Energy 8K reports solid 2010 earnings ~ Company provides 2011 operating earnings guidance of $3.40 to $3.70 per share | DTE 9 Feb 11

Exhibit 99.2

Supplemental Financial Information

DTE Energy Company
Consolidated Statements of Financial Position (Unaudited)


	December 31
(in Millions)	2010			2009
ASSETS
Current Assets
Cash and cash equivalents	$	65		$	52
Restricted cash		120			84
Accounts receivable (less allowance for doubtful accounts of $196 and $262, respectively)
Customer		1,393			1,438
Other		402			217
Inventories
Fuel and gas		460			309
Materials and supplies		202			200
Deferred income taxes		139			167
Derivative assets		131			209
Other		255			201

		3,167			2,877

Investments
Nuclear decommissioning trust funds		939			817
Other		518			598

		1,457			1,415

Property
Property, plant and equipment		21,574			20,588
Less accumulated depreciation, depletion and amortization		(8,582	)		(8,157	)

		12,992			12,431

Other Assets
Goodwill		2,020			2,024
Regulatory assets		4,058			4,110
Securitized regulatory assets		729			870
Intangible assets		67			54
Notes receivable		123			113
Derivative assets		77			116
Other		206			185

		7,280			7,472

Total Assets	$	24,896		$	24,195

DTE Energy Company
Consolidated Statements of Financial Position — (unaudited)


	December 31
(in Millions, except shares)	2010			2009
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	729		$	723
Accrued interest		111			114
Dividends payable		95			88
Short-term borrowings		150			327
Current portion long-term debt, including capital leases		925			671
Derivative liabilities		142			220
Other		597			502

		2,749			2,645

Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		6,114			6,237
Securitization bonds		643			793
Trust preferred-linked securities		289			289
Capital lease obligations		43			51

		7,089			7,370

Other Liabilities
Deferred income taxes		2,632			2,096
Regulatory liabilities		1,328			1,337
Asset retirement obligations		1,498			1,420
Unamortized investment tax credit		75			85
Derivative liabilities		110			198
Liabilities from transportation and storage contracts		83			96
Accrued pension liability		866			881
Accrued postretirement liability		1,275			1,287
Nuclear decommissioning		149			136
Other		275			328

		8,291			7,864

Commitments and Contingencies

Equity
Common stock, without par value, 400,000,000 shares authorized, 169,428,406 and 165,400,045 shares issued and outstanding, respectively		3,440			3,257
Retained earnings		3,431			3,168
Accumulated other comprehensive loss		(149	)		(147	)

Total DTE Energy Company Shareholders’ Equity		6,722			6,278
Noncontrolling interests		45			38

Total Equity		6,767			6,316

Total Liabilities and Equity	$	24,896		$	24,195

DTEEnergy Company
Consolidated Statements of Cash Flows (unaudited)


	Year Ended December 31
	2010			2009			2008
	(in Millions)
Operating Activities
Net income	$	639		$	535		$	553
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		1,027			1,020			899
Deferred income taxes		457			205			348
Gain on sale of non-utility business		—			—			(128	)
Other asset (gains), losses and reserves, net		(5	)		(10	)		(4	)
Gain on sale of interests in synfuel projects		—			—			(31	)
Contributions from synfuel partners		—			—			14
Changes in assets and liabilities, exclusive of changes shown separately		(293	)		69			(92	)

Net cash from operating activities		1,825			1,819			1,559

Investing Activities
Plant and equipment expenditures — utility		(1,011	)		(960	)		(1,183	)
Plant and equipment expenditures — non-utility		(88	)		(75	)		(190	)
Proceeds from sale of interests in synfuel projects		—			—			84
Refunds to synfuel partners		—			—			(387	)
Proceeds from sale of non-utility business		—			—			253
Proceeds from sale of other assets, net		56			83			25
Restricted cash for debt redemption		(32	)		2			54
Proceeds from sale of nuclear decommissioning trust fund assets		377			295			232
Investment in nuclear decommissioning trust funds		(410	)		(315	)		(255	)
Consolidation of VIEs		19			—			—
Investment in Millennium Pipeline Project		(49	)		(15	)		(31	)
Other investments		(88	)		(79	)		(125	)

Net cash used for investing activities		(1,226	)		(1,064	)		(1,523	)

Financing Activities
Issuance of long-term debt		614			427			1,310
Redemption of long-term debt		(663	)		(486	)		(446	)
Repurchase of long-term debt		—			—			(238	)
Short-term borrowings, net		(177	)		(417	)		(340	)
Issuance of common stock		36			35			—
Repurchase of common stock		—			—			(16	)
Dividends on common stock		(360	)		(348	)		(344	)
Other		(36	)		—			(10	)

Net cash used for financing activities		(586	)		(789	)		(84	)


Net Increase (Decrease) in Cash and Cash Equivalents		13			(34	)		(48	)
Cash and Cash Equivalents Reclassified from Assets Held for Sale		—			—			11
Cash and Cash Equivalents at Beginning of Period		52			86			123

Cash and Cash Equivalents at End of Period	$	65		$	52		$	86

The Detroit Edison Company
Consolidated Statements of Operations (unaudited)


	Year Ended December 31
(in Millions)	2010			2009			2008
Operating Revenues	$	4,993		$	4,714		$	4,874


Operating Expenses
Fuel and purchased power		1,580			1,491			1,778
Operation and maintenance		1,305			1,277			1,322
Depreciation and amortization		849			844			743
Taxes other than income		237			205			232
Asset (gains) losses and reserves, net		(6	)		(2	)		(1	)

		3,965			3,815			4,074


Operating Income		1,028			899			800


Other (Income) and Deductions
Interest expense		313			325			293
Interest income		(1	)		(2	)		(6	)
Other income		(39	)		(39	)		(51	)
Other expenses		44			11			47

		317			295			283


Income Before Income Taxes		711			604			517

Income Tax Provision		270			228			186


Net Income	$	441		$	376		$	331

MICHIGAN CONSOLIDATED GAS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)


	Year Ended December 31
(in Millions)	2010			2009			2008
Operating Revenues	$	1,628		$	1,765		$	2,115


Operating Expenses
Cost of gas		855			1,037			1,351
Operation and maintenance		373			411			464
Depreciation and amortization		92			109			102
Taxes other than income		54			48			47
Asset gains, net		—			(30	)		(26	)


		1,374			1,575			1,938


Operating Income		254			190			177


Other (Income) and Deductions
Interest expense		66			67			65
Interest income		(9	)		(8	)		(8	)
Other income		(6	)		(8	)		(11	)
Other expenses		5			6			13


		56			57			59


Income Before Income Taxes		198			133			118
Income Tax Provision		68			40			38


Net Income	$	130		$	93		$	80

DTE Energy Debt/Equity Calculation
As of December 31, 2010
($ millions)


Short-term borrowings	$	150
Current portion of long-term debt, including capital leases		925
Mortgage bonds, notes and other		6,114
Securitization bonds, excluding current portion		643
Capital lease obligations		43
Other adjustments		58
less Securitization bonds, including current portion		(793	)
50% Trust preferred-linked securities		144

Total debt		7,284

50% Trust preferred-linked securities		144

Total preferred/ other		144

Equity		6,722


Total capitalization	$	14,150


Debt		51	%
Preferred		1	%
Common shareholders’ equity		48	%


Total		100	%

Sales Analysis — Q4 2010

Electric Sales — Detroit Edison Service Area (GWh)


	Q4 2010		Q4 2009		% Change
Residential		3,425		3,633		-6	%
Commercial		3,910		4,436		-12	%
Industrial		2,757		2,339		18	%
Other		812		829		-2	%

		10,904		11,237		-3	%
Choice		1,330		479		178	%

TOTAL SALES		12,234		11,716		4	%

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


	Q4 2010		Q4 2009		% Change
Residential		459,698		471,479		-2	%
Commercial		389,259		423,775		-8	%
Industrial		188,414		159,653		18	%
Other		52,951		44,679		19	%

		1,090,322		1,099,586		-1	%
Choice		27,654		11,737		136	%

TOTAL REVENUES		1,117,976		1,111,323		1	%

Gas Sales — MichCon Service Area (MMcf)


	Q4 2010		Q4 2009		% Change
Residential		31,083		31,877		-2	%
Commercial		7,243		7,906		-8	%
Industrial		230		752		-69	%

		38,556		40,535		-5	%
End User Transportation*		39,492		37,906		4	%

TOTAL SALES		78,048		78,441		-1	%


*		Includes choice customers

Gas Revenue — MichCon Service Area ($000s)


	Q4 2010		Q4 2009		% Change
Residential		299,182		332,455		-10	%
Commercial		67,998		82,616		-18	%
Industrial		1,935		7,232		-73	%

		369,115		422,304		-13	%
End User Transportation*		54,075		43,091		25	%

TOTAL REVENUES		423,191		465,395		-9	%


*		Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory


	Q4 2010			Q4 2009			% Change
Actuals		5			0			N/A
Normal		6			6


Deviation from normal		-25	%		-100	%

Heating Degree Days
MichCon service territory


	Q4 2010			Q4 2009			% Change
Actuals		2,249			2,265			-1	%
Normal*		2,206			2,350


Deviation from normal		2	%		-4	%


*		Normal is 15 year weather for 2010 and 30 year weather for 2009

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


	Q4 2010		Q4 2009
MichCon		—		(3	)

Sales Analysis — YTD December 31, 2010