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Dte Energy Co (DTB) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Dte Energy Co

CIK: 936340 Ticker: DTB
Exhibit 99.1 DTE Energy reports strong third-quarter 2020 results; company increases 2020 guidance, provides 2021 early outlook, and increases dividend 7%  Ranked first in customer satisfaction at DTE Gas  Filed updated voluntary renewables plan  Named a Top Female Employer nationally DETROIT, Oct. 27, 2020 – DTE Energy (NYSE: DTE) today reported third quarter 2020 earnings of $476 million, or $2.46 per diluted share, compared with $319 million, or $1.73 per diluted share in 2019. Operating earnings for the third quarter 2020 were $504 million, or $2.61 per diluted share, compared with 2019 operating earnings of $351 million, or $1.91 per diluted share. Operating earnings exclude non- recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this news release. The DTE Energy Board of Directors declared a $1.085 per share dividend on its common stock, payable Jan. 15, 2021, to shareholders of record at the close of business Dec. 21, 2020. This is a 7% increase from the previous quarterly dividend of $1.0125 per share. The new annualized dividend per share is $4.34, up from $4.05. This continues DTE Energy's consistent dividend history, having issued a cash dividend for more than 100 years. “In addition to strong financial performance we made solid strides in our clean energy journey,” said Jerry Norcia, DTE Energy president and CEO. “Our focus on serving our four key stakeholders – employees, customers, communities and investors – is unwavering.” Norcia also noted the following business and environmental accomplishments:  Ranked first in overall customer satisfaction at DTE Gas: J.D. Power’s 2020 study ranked DTE Gas first in customer satisfaction with residential customers in the Midwest.  Created new assistance programs, pledged $13 million to help customers struggling during pandemic: The commitment consists of donations to human service agencies plus direct relief to customers. DTE expects these efforts to help nearly 40,000 of its most vulnerable customers keep their energy flowing during this challenging time.  Continued support of Michigan businesses: Invested more than $1.7 billion with Michigan- based companies this year alone, executing our commitment to the Pure Michigan Business Connect local supplier initiative. This includes $763 million invested in the city of Detroit.  Filed updated MIGreenPower voluntary renewables plan with the Michigan Public Service Commission and gained more subscribers: The plan includes bringing online an additional 420 megawatts of solar energy by 2022, or enough clean energy to power 120,000 homes.  Named a Top Female Employer nationally: Ranked on Forbes’ list of Top Female Employers in 2020.  Pledged to help build extensive Midwest electric vehicle charging network: Joined other Midwest energy companies in a first-of-its-kind pledge to make interstate travel easier for electric vehicle owners by 2022.


The following information was filed by Dte Energy Co (DTB) on Tuesday, October 27, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parentheticals)
Consolidated Statements Of Financial Position (Unaudited)
Consolidated Statements Of Financial Position (Unaudited) (Parenthetical)
Consolidated Statements Of Operations (Unaudited)
Acquisitions
Acquisitions (Details Textuals)
Acquisitions (Purchase Price Allocation - Electric Segment Acquisition) (Details)
Acquisitions (Purchase Price Allocation - Gas Storage And Pipelines Segment Acquisition) (Details)
Acquisitions (Purchase Price Allocation - Power And Industrial Segment Acquisition) (Details)
Acquisitions (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value
Fair Value (Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (Details)
Fair Value (Details Textuals)
Fair Value (Fair Value And Unrealized Gains And Losses For The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Fair Value Of Financial Instruments) (Details)
Fair Value (Fair Value Of Fixed Income Securities Held In Nuclear Decommissioning Trust Funds (Details)
Fair Value (Fair Value Of Nuclear Decommissioning Trust Fund Assets) (Details)
Fair Value (Gains (Losses) Related To The Trust) (Details)
Fair Value (Gains And Losses And Proceeds From The Sale Of Securities By The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Reconciliation Of Level 3 Assets And Liabilities At Fair Value On A Recurring Basis) (Details)
Fair Value (Tables)
Fair Value (Unobservable Inputs Related To Level 3 Assets And Liabilities) (Details)
Financial And Other Derivative Instruments
Financial And Other Derivative Instruments (Cumulative Gross Volume Of Derivative Contracts Outstanding) (Details)
Financial And Other Derivative Instruments (Details Textuals)
Financial And Other Derivative Instruments (Effect Of Derivatives Not Designated As Hedging Instruments On The Consolidated Statement Of Operations) (Details)
Financial And Other Derivative Instruments (Fair Value Of Derivative Instruments) (Details)
Financial And Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details)
Financial And Other Derivative Instruments (Netting Offsets Of Derivative Assets And Liabilities) (Details)
Financial And Other Derivative Instruments (Netting Offsets Reconciliation To Balance Sheet) (Details)
Financial And Other Derivative Instruments (Tables)
Leases
Leases (Components Of Net Investment In Finance Leases) (Details)
Leases (Details Textuals)
Leases (Lease Income Associated With Operating Leases) (Details)
Leases (Tables)
Long-Term Debt
Long-Term Debt (Details Textuals)
Long-Term Debt (Schedule Of Debt Redeemed) (Details)
Long-Term Debt (Schedule Of Issued Debt) (Details)
Long-Term Debt (Tables)
New Accounting Pronouncements
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Details Textuals)
Organization And Basis Of Presentation (Non-Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Tables)
Regulatory Matters
Regulatory Matters (Details Textuals)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Schedule Of Related Party Transactions) (Details)
Related Party Transactions (Tables)
Retirement Benefits And Trusteed Assets
Retirement Benefits And Trusteed Assets (Contributions To Dte Energy Company Affiliates Employee Benefit Plans Master Trust) (Details)
Retirement Benefits And Trusteed Assets (Details Textuals)
Retirement Benefits And Trusteed Assets (Details)
Retirement Benefits And Trusteed Assets (Tables)
Revenue
Revenue (Deferred Revenue) (Details)
Revenue (Disaggregation Of Revenue) (Details)
Revenue (Expected Recognition Of Deferred Revenue) (Details)
Revenue (Expected Timing Of Performance Obligation Satisfaction) (Details)
Revenue (Tables)
Segment And Related Information
Segment And Related Information (Details Textuals)
Segment And Related Information (Financial Data - Inter-Segment Billing) (Details)
Segment And Related Information (Financial Data - Net Income (Loss) Attributable To Dte Energy By Segment) (Details)
Segment And Related Information (Financial Data - Operating Revenues Including Inter-Segment Revenues) (Details)
Segment And Related Information (Tables)
Short-Term Credit Arrangements And Borrowings
Short-Term Credit Arrangements And Borrowings (Details Textuals)
Short-Term Credit Arrangements And Borrowings (Details)
Short-Term Credit Arrangements And Borrowings (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details Textuals)
Significant Accounting Policies (Financing Receivables Classified By Internal Grade Of Credit Risk) (Details)
Significant Accounting Policies (Income Taxes) (Details)
Significant Accounting Policies (Other Income) (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Roll-Forward Of Activity For Financing Receivables Credit Loss Reserves) (Details)
Significant Accounting Policies (Tables)
Subsequent Event
Ticker: DTB
CIK: 936340
Form Type: 10-Q Quarterly Report
Accession Number: 0000936340-20-000256
Submitted to the SEC: Tue Oct 27 2020 11:53:36 AM EST
Accepted by the SEC: Tue Oct 27 2020
Period: Wednesday, September 30, 2020
Industry: Electric Services

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