DTE Energy (DTE) 8-K DTE Energy provides legislative update; reports second quarter 2008 earnings, maintains earnings guidance

Exhibit 99.2

Second Quarter 2008 Supplemental Financial Information July 30, 2008

DTE Energy Company
Consolidated Statement of Financial Position (unaudited)

	June 30			December 31
	2008			2007
(in Millions)
ASSETS
Current Assets
Cash and cash equivalents	$	445		$	123
Restricted cash		86			140
Accounts receivable (less allowance for doubtful accounts of $269 and $182, respectively)
Customer		1,557			1,658
Other		320			514
Accrued power and gas supply cost recovery revenue		47			76
Inventories
Fuel and gas		379			429
Materials and supplies		204			204
Deferred income taxes		207			387
Assets from risk management and trading activities		545			181
Other		135			196
Current assets held for sale		—			83
		3,925			3,991
Investments
Nuclear decommissioning trust funds		794			824
Other		559			446
		1,353			1,270
Property
Property, plant and equipment		19,673			18,809
Less accumulated depreciation and depletion		(7,778	)		(7,401	)
		11,895			11,408
Other Assets
Goodwill		2,037			2,037
Regulatory assets		2,803			2,786
Securitized regulatory assets		1,066			1,124
Intangible assets		87			25
Notes receivable		117			87
Assets from risk management and trading activities		395			199
Prepaid pension assets		162			152
Other		129			116
Noncurrent assets held for sale		—			547
		6,796			7,073
Total Assets	$	23,969		$	23,742

DTE Energy Company
Consolidated Statements of Financial Position (Unaudited)

	June 30			December 31
	2008			2007
(in Millions, Except Shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable	$	1,231		$	1,189
Accrued interest		118			112
Dividends payable		86			87
Short-term borrowings		100			1,084
Gas inventory equalization		153			—
Current portion long-term debt, including capital leases		590			454
Liabilities from risk management and trading activities		818			281
Deferred gains and reserves		313			400
Other		483			566
Current liabilities associated with assets held for sale		—			48
		3,892			4,221
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		5,936			5,576
Securitization bonds		996			1,065
Trust preferred-linked securities		289			289
Capital lease obligations		65			41
		7,286			6,971
Other Liabilities
Deferred income taxes		1,824			1,824
Regulatory liabilities		1,156			1,168
Asset retirement obligations		1,310			1,277
Unamortized investment tax credit		102			108
Liabilities from risk management and trading activities		764			450
Liabilities from transportation and storage contracts		119			126
Accrued pension liability		68			68
Accrued postretirement liability		1,059			1,094
Deferred gains		14			15
Nuclear decommissioning		127			134
Other		286			303
Noncurrent liabilities associated with assets held for sale		—			82
		6,829			6,649
Commitments and Contingencies (Notes 2, 6 and 9)
Minority Interest		61			48
Shareholders’ Equity
Common stock, without par value, 400,000,000 shares authorized, 163,095,193 and 170,649,715 shares issued and outstanding, respectively		3,169			3,176
Retained earnings		2,862			2,790
Accumulated other comprehensive loss		(130	)		(113	)
		5,901			5,853
Total Liabilities and Shareholders’ Equity	$	23,969		$	23,742

DTE Energy Company
Consolidated Statement of Cash Flows (Unaudited)

	Six Months Ended
	June 30
	2008			2007
(in Millions)
Operating Activities
Net Income	$	240		$	519
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		440			467
Deferred income taxes		180			(4	)
Gain on sale of non-utility business		(128	)		(897	)
Other asset (gains), losses and reserves, net		12			10
Gain on sale of interests in synfuel projects		(15	)		(77	)
Partners’ share of synfuel project (gains) losses		2			(115	)
Contributions from synfuel partners		30			101
Changes in assets and liabilities, exclusive of changes shown separately		774			994
Net cash from operating activities		1,535			998
Investing Activities
Plant and equipment expenditures — utility		(544	)		(480	)
Plant and equipment expenditures — non-utility		(110	)		(141	)
Acquisitions, net of cash acquired		(72	)		—
Proceeds from sale of interests in synfuel projects		82			221
Refunds to synfuel partners		(96	)		(16	)
Proceeds from sale of non-utility assets		253			1,258
Proceeds from sale of other assets, net		16			11
Restricted cash for debt redemptions		54			4
Proceeds from sale of nuclear decommissioning trust fund assets		106			124
Investment in nuclear decommissioning trust funds		(124	)		(140	)
Other investments		(17	)		(30	)
Net cash from (used for) investing activities		(452	)		811
Financing Activities
Issuance of long-term debt		798			—
Redemption of long-term debt		(154	)		(111	)
Repurchase of long-term debt		(238	)		—
Short-term borrowings, net		(984	)		(330	)
Repurchase of common stock		(16	)		(333	)
Dividends on common stock		(172	)		(187	)
Other		(6	)		(2	)
Net cash used for financing activities		(772	)		(963	)
Net Increase (Decrease) in Cash and Cash Equivalents		311			846
Cash and Cash Equivalents Reclassified from Assets Held for Sale		11			—
Cash and Cash Equivalents at Beginning of the Period		123			147
Cash and Cash Equivalents at End of the Period	$	445		$	993

THE DETROIT EDISON COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

	Three Months Ended						Six Months Ended
	June 30						June 30
(in Millions)	2008			2007			2008			2007
Operating Revenues	$	1,173		$	1,210		$	2,326		$	2,304
Operating Expenses
Fuel and purchased power		415			402			817			756
Operation and maintenance		369			380			727			728
Depreciation and amortization		178			198			370			380
Taxes other than income		60			69			122			141
Asset (gains) and reserves, net		—			(1	)		—			6
		1,022			1,048			2,036			2,011
Operating Income		151			162			290			293
Other (Income) and Deductions
Interest expense		71			75			147			149
Interest income		(1	)		(2	)		(2	)		(3	)
Other income		(11	)		(7	)		(23	)		(18	)
Other expenses		12			6			23			15
		71			72			145			143
Income Before Income Taxes		80			90			145			150
Income Tax Provision		29			30			53			50
Reported Earnings		51			60			92			100
Adjustments
Effective tax rate normalization		—			1			—			2
Regulatory asset surcharge		—			3			—			6
Performance Excellence Process		—			—			—			—
Detroit Thermal Reserve		—			—			—			6
		—			4			—			14
Operating Earnings	$	51		$	64		$	92		$	114

The Consolidated Statement of Operations (Unaudited) should be read in conjunction with the Notes to
Consoldated Financial Statements appearing in Forms 10-K and 10-Q.

MICHIGAN CONSOLIDATED GAS COMPANY
CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

	Three						Six
	Months Ended						Months Ended
	June 30						June 30
(in Millions)	2008			2007			2008			2007
Operating Revenues	$	381		$	305		$	1,277		$	1,166
Operating Expenses
Cost of gas		210			158			854			771
Operation and maintenance		149			111			271			220
Depreciation and amortization		25			24			50			45
Taxes other than income		12			15			25			29
Asset (gains) and losses, net		—			—			—			3
		396			308			1,200			1,068
Operating Income (Loss)		(15	)		(3	)		77			98
Other (Income) and Deductions
Interest expense		14			12			30			27
Interest income		(2	)		(5	)		(4	)		(7	)
Other income		(4	)		(2	)		(6	)		(5	)
Other expenses		2			1			5			2
		10			6			25			17
Income (Loss) Before Income Taxes		(25	)		(9	)		52			81
Income Tax Provision (Benefit)		(8	)		(2	)		15			21
Reported Earnings (Loss)		(17	)		(7	)		37			60
Adjustments
Effective tax rate normalization		—			3			—			(2	)
Performance Excellence Process		—			1			—			2
		—			4			—			—
Operating Earnings (Loss)	$	(17	)	$	(3	)	$	37		$	60

DTE Energy Debt/Equity Calculation
As of June 30, 2008
($ millions)

Short-term borrowings	$	100
Current portion of long-term debt, including capital leases		590
Mortgage bonds, notes and other		5,936
Securitization bonds		996
Capital lease obligations		65
less MichCon short-term debt		—
less Securitization bonds, including current portion		(1,124	)
Total debt		6,564
Trust preferred-linked securities		289
Total preferred/ other		289
Equity		5,901
Total capitalization	$	12,753
Debt		51.5	%
Preferred		2.3	%
Common shareholders’ equity		46.3	%
Total		100.0	%

Sales Analysis — Q2 2008

Electric Sales — Detroit Edison Service Area (GWh)

	Q2 2008		Q2 2007		% Change
Residential		3,428		3,718		-8	%
Commercial		4,912		4,871		1	%
Industrial		3,231		3,322		-3	%
Other		788		804		-2	%
		12,359		12,715		-3	%
Choice*		297		524		-43	%
TOTAL SALES		12,656		13,239		-4	%

* Includes Dearborn Industrial Group sales

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

	Q2 2008		Q2 2007		% Change
Residential		375,200		398,757		-6	%
Commercial		456,612		440,454		4	%
Industrial		224,016		214,972		4	%
Other		42,398		42,914		-1	%
		1,098,226		1,097,097		0	%
Choice*		3,694		9,412		-61	%
TOTAL REVENUES		1,101,920		1,106,509		0	%

* Distribution charge, includes Dearborn Industrial Group revenues

Gas Sales — MichCon Service Area (Mcf)

	Q2 2008		Q2 2007		% Change
Residential		13,849		16,261		-15	%
Commercial		4,160		4,869		-15	%
Industrial		149		140		6	%
		18,158		21,270		-15	%
End User Transportation*		22,517		23,832		-6	%
TOTAL SALES		40,675		45,102		-10	%

* Includes choice customers

Gas Revenue — MichCon Service Area ($000s)

	Q2 2008		Q2 2007		% Change
Residential		187,734		189,088		-1	%
Commercial		53,993		54,065		0	%
Industrial		1,637		1,445		13	%
		243,364		244,598		-1	%
End User Transportation*		32,493		28,224		15	%
TOTAL REVENUES		275,857		272,822		1	%

* Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory

	Q2 2008			Q2 2007			% Change
Actuals		204			277			-26	%
Normal		193			193
Deviation from normal		6	%		44	%

Heating Degree Days
MichCon service territory

	Q2 2008			Q2 2007			% Change
Actuals		774			784			-1	%
Normal		865			840
Deviation from normal		-11	%		-7	%

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

	Q2 2008			Q2 2007
Detroit Edison		1			14
MichCon		(4	)		(1	)

Warmer than normal weather added $1 million to Detroit Edison’s earnings in Q2 2008

Milder weather reduced MichCon’s earnings by $4M Q2 2008

DTE Energy Company
Consolidated Statements of Operations (unaudited)
(Reconciliation of Reported Earnings to Operating earnings)

	Three Months Ended June 30, 2008
	2Q 2008 Reported			Operating			2Q 2008 Operating
(in Millions)	Earnings			Adjustments			Earnings
Operating Revenues		2,251			(2	)		2,249
Operating Expenses
Fuel, purchased power and gas		1,032			—			1,032
Operation and maintenance		754			—			754
Depreciation, depletion and amortization		216			—			216
Taxes other than income		78			—			78
Gain on sale of non-utility business		(2	)		2			—
Other asset (gains) and losses, reserves and impairments, net		16			—			16
		2,094			2			2,096
Operating Income		157			(4	)		153
Other (Income) and Deductions
Interest expense		122			—			122
Interest income		(4	)		—			(4	)
Other income		(18	)		—			(18	)
Other expenses		9			—			9
		109			—			109
Income Before Income Taxes and Minority Interest		48			(4	)		44
Income Tax Provision		18			(2	)		16
Minority Interest		2			—			2
Income from Continuing Operations		28			(2	)		26
Discontinued Operations
Income (loss) from discontinued operations, net of tax		—			—			—
Minority interest in discontinued operations		—			—			—
		—						—
Net Income		28			(2	)		26