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Dte Energy Co (DTB) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Dte Energy Co

CIK: 936340 Ticker: DTB
Exhibit 99.1
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DTE Energy reports first quarter 2021 results, continues progress in sustaining communities
 
Recognized as a Gallup Great Workplace for ninth consecutive year
Supported Habitat for Humanity effort to weather-proof low-income homes
Supported Detroit small businesses with grant to help navigate beyond the pandemic
Announced voluntary greenhouse gas reduction program for DTE Gas customers
Issued third green bond, funding new renewable investments and energy efficiency programs
Received regulatory approval for Phase 2 of its Electric Vehicle Charging Forward program

 
DETROIT, Apr. 27, 2021 – DTE Energy (NYSE:DTE) today reported first quarter 2021 earnings of $397 million, or $2.05 per diluted share, compared with $340 million, or $1.76 per diluted share in 2020.
 
Operating earnings for the first quarter 2021 were $473 million, or $2.44 per diluted share, compared with 2020 operating earnings of $320 million, or $1.66 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. 
  
“We are off to a strong start in 2021,” said Jerry Norcia, DTE Energy president and CEO. “Our employees continue to deliver – supporting the needs of the communities we serve while delivering improved reliability and service to our customers.”

Norcia noted the following accomplishments:
 
Recognized as a Gallup Great Workplace for ninth consecutive year: DTE Energy was recognized by Gallup for the ninth year in a row as a workplace with exceptionally high employee engagement – in the top 5% of Gallup’s worldwide database of companies.

Awarded grant to Habitat for Humanity: The DTE Energy Foundation funded critical home repairs for people in western and northern Michigan, providing protection from the state’s harsh elements and seasonal weather patterns.

Supported Detroit Means Business: DTE supported a fundraising effort to help small businesses in Detroit grow past the pandemic. Its Foundation announced a half million dollar grant. DTE is also offering personal protective equipment, technical assistance and opening resources to elevate the small business support ecosystem.

Launched CleanVision Natural Gas Balance program for gas customers: CleanVision offers customers a way to affordably offset 25% to 100% of greenhouse gas emissions from an average home’s natural gas use and is the first program in the nation to include both carbon offsets and renewable natural gas. This voluntary program for gas customers is similar to DTE’s MIGreenPower program for electric customers.



The following information was filed by Dte Energy Co (DTB) on Tuesday, April 27, 2021 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)
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Dispositions
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 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)
Retirement Benefits And Trusteed Assets
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)
Ticker: DTB
CIK: 936340
Form Type: 10-Q Quarterly Report
Accession Number: 0000936340-21-000154
Submitted to the SEC: Tue Apr 27 2021 10:15:34 AM EST
Accepted by the SEC: Tue Apr 27 2021
Period: Wednesday, March 31, 2021
Industry: Electric Services

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