DTE Energy (DTE) 8-K DTE Energy announces strong 2006 operating earnings

Exhibit 99.2

DTE Energy Company
Consolidated Statement of Financial Position (Unaudited)

	December 31
	2006			2005
(in Millions)
ASSETS
Current Assets
Cash and cash equivalents	$	147		$	88
Restricted cash		146			122
Accounts receivable
Customer (less allowance for doubtful accounts of $170 and $136, respectively)		1,427			1,746
Collateral held by others		68			286
Other		442			363
Accrued power and gas supply cost recovery revenue.		117			186
Inventories Fuel and gas		562			522
Materials and supplies		153			146
Deferred income taxes		245			257
Assets from risk management and trading activities		461			806
Other		193			160
		3,961			4,682
Investments
Nuclear decommissioning trust funds		740			646
Other		505			530
		1,245			1,176
Property
Property, plant and equipment		19,224			18,660
Less accumulated depreciation and depletion		(7,773	)		(7,830	)
		11,451			10,830
Other Assets
Goodwill		2,057			2,057
Regulatory assets		3,198			2,074
Securitized regulatory assets		1,235			1,340
Intangible assets		72			99
Notes receivable		164			409
Assets from risk management and trading activities		164			316
Prepaid pension assets		71			186
Other		139			166
		7,100			6,647
Total Assets	$	23,757		$	23,335

DTE Energy Company
Consolidated Statement of Financial Position (Unaudited)

	December 31
	2006			2005
(in Millions, Except Shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable	$	1,145		$	1,187
Accrued interest		115			115
Dividends payable		94			92
Short-term borrowings		1,131			943
Current portion of long-term debt, including capital leases		354			691
Liabilities from risk management and trading activities		437			1,089
Other		888			803
		4,164			4,920
Other Liabilities
Deferred income taxes		1,465			1,396
Regulatory liabilities		765			715
Asset retirement obligations		1,213			1,091
Unamortized investment tax credit		120			131
Liabilities from risk management and trading activities		259			527
Liabilities from transportation and storage contracts		157			317
Accrued pension liability		388			284
Accrued postretirement liability		1,414			406
Deferred gains from asset sales		36			188
Minority interest		42			92
Nuclear decommissioning		99			85
Other		312			334
		6,270			5,566
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		5,918			5,234
Securitization bonds		1,185			1,295
Equity-linked securities		—			175
Trust preferred-linked securities		289			289
Capital lease obligations		82			87
		7,474			7,080
Commitments and Contingencies
Shareholders’ Equity
Common stock, without par value, 400,000,000 shares authorized, 177,138,060 and 177,814,429 shares issued and outstanding, respectively		3,467			3,483
Retained earnings		2,593			2,557
Accumulated other comprehensive loss		(211	)		(271	)
		5,849			5,769
Total Liabilities and Shareholders’ Equity	$	23,757		$	23,335

DTE Energy Company
Consolidated Statement of Cash Flows (Unaudited)

	Year Ended December 31
	2006			2005
(in Millions)
Operating Activities
Net Income	$	433		$	537
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		1,014			872
Deferred income taxes		28			147
Gain on sale of assets, net		(11	)		(38	)
Gain on sale of interests in synfuel projects		(38	)		(367	)
Impairment of synfuel projects		77			—
Partners’ share of synfuel project losses		(251	)		(318	)
Contributions from synfuel partners		197			243
Cumulative effect of accounting changes		(1	)		3
Changes in assets and liabilities, exclusive of changes shown separately		8			(78	)
Net cash from operating activities		1,456			1,001
Investing Activities
Plant and equipment expenditures — utility		(1,126	)		(850	)
Plant and equipment expenditures — non-utility		(277	)		(215	)
Acquisitions, net of cash acquired		(42	)		(50	)
Proceeds from sale of interests in synfuel projects		246			349
Proceeds from sale of assets, net		67			60
Restricted cash for debt redemptions		(21	)		4
Proceeds from sale of nuclear decommissioning trust fund assets		253			201
Investment in nuclear decommissioning trust funds		(284	)		(235	)
Other investments		(10	)		(66	)
Net cash used for investing activities		(1,194	)		(802	)
Financing Activities
Issuance of long-term debt		612			869
Redemption of long-term debt		(687	)		(1,266	)
Short-term borrowings, net		291			437
Issuance of common stock		17			172
Repurchase of common stock		(61	)		(13	)
Dividends on common stock		(365	)		(360	)
Other		(10	)		(6	)
Net cash used for financing activities		(203	)		(167	)
Net Increase in Cash and Cash Equivalents		59			32
Cash and Cash Equivalents at Beginning of the Period		88			56
Cash and Cash Equivalents at End of the Period	$	147		$	88

The Detroit Edison Company
Consolidated Statement of Operations (unaudited)

	Year Ended December 31
	2006			2005
(in Millions)
Operating Revenues	$	4,737		$	4,462
Operating Expenses
Fuel and purchased power		1,566			1,590
Operation and maintenance		1,337			1,308
Depreciation and amortization		812			640
Taxes other than income		252			241
Asset (gains) and losses, net		(6	)		(26	)
		3,961			3,753
Operating Income		776			709
Other (Income) and Deductions
Interest expense		278			267
Interest income		(4	)		(3	)
Other income		(35	)		(27	)
Other expenses		55			46
		294			283
Income Before Income Taxes		482			426
Income Tax Provision		162			149
Income Before Accounting Change		320			277
Cumulative Effect of Accounting Change		1			(3	)
Reported Earnings		321			274
Adjustments
September 2006 MPSC electric rate order		38
Cumulative Effect of Accounting Change		(1	)		3
Performance Excellence Process		—			4
Incremental non-recurring DTE2 project costs		—			8
Gain on sale of assets		—			(17	)
Operating Earnings	$	358		$	272

Consolidated Statement of Operations (Unaudited) should be read in conjunction with the Notes to Consolidated Financial Statements appearing in the Annual Report to Shareholders, Form 10K and 10Q.

Michigan Consolidated Gas Company
Consolidated Statement of Operations (Unaudited)

	Year Ended Dececember 31
	2006			2005
(in Millions)
Operating Revenues	$	1,811		$	2,098
Operating Expenses
Cost of gas		1,127			1,455
Operation and maintenance		421			411
Depreciation, depletion and amortization		95			97
Taxes other than income		53			42
Asset (gains) and losses, net		—			48
		1,696			2,053
Operating Income (Loss)		115			45
Other (Income) and Deductions
Interest expense		67			57
Interest income		(9	)		(10	)
Other income		(7	)		(4	)
Other expenses		—			3
		51			46
Income (Loss) Before Income Taxes		64			(1	)
Income Tax Provision (Benefit)		12			(14	)
Reported Earnings		52			13
Adjustments
Performance Excellence Process		16			1
April 2005 MPSC gas orders	��	—			57
Incremental non-recurring DTE2 project costs.		—			5
Operating Earnings	$	68		$	76

Consolidated Statement of Operations (Unaudited) should be read in conjunction with the Notes to Consolidated Financial Statements appearing in the Annual Report to Shareholders, Form 10K and 10Q.

DTE Energy Debt/Equity Calculation
As of Dec. 31, 2006
($ millions)

Short-term borrowings	$	1,131
Current portion of long-term debt, including capital leases		354
Mortgage bonds, notes and other		5,918
Securitization bonds		1,185
Capital lease obligations		82
less MichCon short-term debt		(331	)
less Securitization bonds, including current portion		(1,296	)
Total debt		7,043
Trust preferred-linked securities		289
Total preferred/ other		289
Equity		5,849
Total capitalization	$	13,181
Debt		53.4	%
Preferred		2.2	%
Common shareholders’ equity		44.4	%
Total		100.0	%

Sales Analysis — 2006

Electric Sales — Detroit Edison Service Area (GWh)

	2006		2005		% Change
Residential		15,769		16,812		-6	%
Commercial		17,948		15,618		15	%
Industrial		13,235		12,317		7	%
Other		3,228		2,719		19	%
		50,180		47,466		6	%
Interconnection		3,242		5,217		-38	%
Choice*		3,603		7,278		-50	%
TOTAL SALES		57,025		59,961		-5	%

* Includes Dearborn Industrial Group sales

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

	2006		2005		% Change
Residential		1,670,697		1,516,645		10	%
Commercial		1,602,777		1,330,824		20	%
Industrial		835,296		696,837		20	%
Other		165,679		127,487		30	%
		4,274,449		3,671,793		16	%
Interconnection		169,071		380,035		-56	%
Choice*		83,813		142,070		-41	%
TOTAL REVENUES		4,527,333		4,193,898		8	%

* Distribution charge, includes Dearborn Industrial Group revenues

Gas Sales — MichCon Service Area (Mcf)

	2006		2005		% Change
Residential		102,759,921		123,089,401		-17	%
Commercial		31,278,460		39,624,830		-21	%
Industrial		1,217,010		1,501,936		-19	%
		135,255,391		164,216,167		-18	%
End User Transportation*		135,850,307		157,046,718		-13	%
TOTAL SALES		271,105,698		321,262,885		-16	%

* Includes choice customers

Gas Revenue — MichCon Service Area ($000s)

	2006		2005		% Change
Residential		1,212,498		1,349,073		-10	%
Commercial		366,381		429,589		-15	%
Industrial		13,493		15,968		-15	%
		1,592,372		1,794,630		-11	%
End User Transportation*		134,929		133,887		1	%
TOTAL REVENUES		1,727,301		1,928,517		-10	%

* Includes choice customers

Weather

Cooling Degree Days

Detroit Edison service territory

	2006			2005			% Change
Actuals		867			1,109			-22	%
Normal		736			736
Deviation from normal		18	%		51	%
Heating Degree Days
MichCon service territory

	2006			2005			% Change
Actuals		5,779			6,475			-11	%
Normal		6,671			6,776
Deviation from normal		-13	%		-4	%

Sales Analysis — Q4 2006

Electric Sales — Detroit Edison Service Area (GWh)

	Q4 2006		Q4 2005		% Change
Residential		3,536		3,440		3	%
Commercial		4,508		3,972		13	%
Industrial		3,177		3,199		-1	%
Other		841		716		17	%
		12,061		11,327		6	%
Interconnection		1,235		1,246		-1	%
Choice*		722		1,671		-57	%
TOTAL SALES		14,018		14,244		-2	%

* Includes Dearborn Industrial Group sales

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

	Q4 2006		Q4 2005		% Change
Residential		375,094		308,365		22	%
Commercial		402,351		342,036		18	%
Industrial		202,239		188,232		7	%
Other		40,499		32,467		25	%
		1,020,183		871,100		17	%
Interconnection		52,130		84,921		-39	%
Choice*		15,149		32,705		-54	%
TOTAL REVENUES		1,087,462		988,726		10	%

* Distribution charge, includes Dearborn Industrial Group revenues

Gas Sales — MichCon Service Area (Mcf)

	Q4 2006		Q4 2005		% Change
Residential		33,418,677		38,269,239		-13	%
Commercial		8,974,517		11,823,294		-24	%
Industrial		284,327		451,373		-37	%
		42,677,521		50,543,906		-16	%
End User Transportation*		37,243,007		40,332,976		-8	%
TOTAL SALES		79,920,528		90,876,882		-12	%

* Includes choice customers

Gas Revenue — MichCon Service Area ($000s)

	Q4 2006		Q4 2005		% Change
Residential		333,234		522,906		-36	%
Commercial		88,981		161,790		-45	%
Industrial		2,712		5,879		-54	%
		424,927		690,575		-38	%
End User Transportation*		38,963		36,336		7	%
TOTAL REVENUES		463,890		726,911		-36	%

* Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory

	Q4 2006			Q4 2005			% Change
Actuals		3			33			-91	%
Normal		6			6
Deviation from normal		-50	%		450	%

Heating Degree Days
MichCon service territory

	Q4 2006			Q4 2005			% Change
Actuals		2,097			2,272			-8	%
Normal		2,353			2,352
Deviation from normal		-11	%		-3	%