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Dte Energy Co (DTB) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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Dte Energy Co

CIK: 936340 Ticker: DTB
Exhibit 99.1
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DTE Energy reports strong first quarter 2022 results

Recognized as a Gallup Great Workplace for 10th consecutive year
Achieved nearly 500 business and more than 50,000 residential MIGreenPower subscribers
Improved EV access in Detroit through Lyft partnership
Advanced Scope 3 gas emissions reduction goal by a full decade
DTE Foundation granted nearly $3.5 million to nonprofit organizations supporting equity, social justice and environmental projects

DETROIT, April 28, 2022 – DTE Energy (NYSE:DTE) today reported first quarter 2022 earnings of $394 million, or $2.03 per diluted share, compared with $397 million, or $2.05 per diluted share in 2021.

Operating earnings for the first quarter 2022 were $448 million, or $2.31 per diluted share, compared with 2021 operating earnings of $389 million, or $2.00 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 2022,” said Jerry Norcia, DTE Energy president and CEO. “In addition to a good start on the financial front, I am proud of our ongoing commitment to environmental sustainability, our focus on employee engagement and safety, and the strong progress in serving our customers and our communities.”

Norcia noted the following accomplishments:

Recognized as a Gallup Great Workplace for 10th consecutive year: DTE was recognized by Gallup for the 10th year in a row as a workplace with exceptionally high employee engagement – in the top decile of Gallup’s worldwide database of companies.

Achieved nearly 500 business and more than 50,000 residential MIGreenPower subscribers: The program is one of the country’s largest voluntary renewable energy programs and will be adding thousands of megawatts from new solar projects to meet customer demand.

Improved electric vehicle (EV) accessibility in Detroit: This program will incentivize drivers in DTE’s electric service territory to purchase or lease an EV for use on the Lyft network. Administered through DTE’s Charging Forward program, this partnership provides equitable access to EVs for everyone, while bringing more clean transportation to Southeast Michigan.

Advanced Scope 3 gas emissions reduction goal by a full decade: Previously scheduled for 2050, advancements in greener technologies like green hydrogen, carbon capture and sequestration, renewable natural gas and engagement in


The following information was filed by Dte Energy Co (DTB) on Thursday, April 28, 2022 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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Definitive Proxy Statement (Form DEF 14A)
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Dte Energy Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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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 Cash Flows (Unaudited) - Dte Electric Company
Consolidated Statements Of Changes In Equity (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Changes In Equity (Unaudited) - Dte Electric Company
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited) - Dte Electric Company
Consolidated Statements Of Financial Position (Unaudited)
Consolidated Statements Of Financial Position (Unaudited) (Parenthetical)
Consolidated Statements Of Financial Position (Unaudited) - Dte Electric Company
Consolidated Statements Of Financial Position (Unaudited) - Dte Electric Company (Parenthetical)
Consolidated Statements Of Operations (Unaudited)
Consolidated Statements Of Operations (Unaudited) - Dte Electric Company
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Discontinued Operations
Discontinued Operations (Financial Results That Have Been Reclassified From Continuing Operations And Included In Discontinued Operations) (Details)
Discontinued Operations (Significant Non-Cash Items And Capital Expenditures) (Details)
Discontinued Operations (Tables)
Earnings Per Share
Earnings Per Share (Basic And Diluted Income Per Share Calculation) (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 (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)
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 Activity) (Details)
Revenue (Disaggregation Of Revenue By Segment) (Details)
Revenue (Expected Recognition Of Deferred Revenue) (Details)
Revenue (Expected Timing Of Performance Obligation Satisfaction) (Details)
Revenue (Revenues Outside The Scope Of Topic 606) (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)
Significant Accounting Policies (Uncollectible Expense) (Details)
Ticker: DTB
CIK: 936340
Form Type: 10-Q Quarterly Report
Accession Number: 0000936340-22-000123
Submitted to the SEC: Thu Apr 28 2022 10:33:03 AM EST
Accepted by the SEC: Thu Apr 28 2022
Period: Thursday, March 31, 2022
Industry: Electric Services

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