DTE Energy 2007 Annual Report Download - page 8

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MICHIGAN CONSOLIDATED GAS COMPANY
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
December 31
(in Millions, Except Shares) 2007 2006
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Accounts payable
Affiliates $ 33 $ 13
Other 227 198
Dividends payable 13 13
Short-term borrowings
Affiliates — 12
Other 454 330
Current portion of long-term debt 275 30
Accrued gas cost recovery refund 70 81
Other 77 88
1,149 765
Long-Term Debt (net of current portion) 440 715
Other Liabilities
Deferred income taxes 195 181
Regulatory liabilities 585 510
Accrued postretirement benefit costs 268 347
Asset retirement obligations 109 103
Other 80 93
1,237 1,234
Commitments and Contingencies (Notes 4 and 10)
Shareholder’s Equity
Common stock, $1 par value, 15,100,000 shares authorized, 10,300,000 shares issued and outstanding 447 442
Retained earnings 336 315
Accumulated other comprehensive loss (1) (1)
782 756
Total Liabilities and Shareholder’s Equity $ 3,608 $ 3,470
See Notes to Consolidated Financial Statements
6