DTE Energy 2008 Annual Report Download - page 8

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MICHIGAN CONSOLIDATED GAS COMPANY
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
See Notes to Consolidated Financial Statements
6
December 31
(in Millions, Except Shares) 2008 2007
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Accounts payable
Affiliates $26 $33
Other 190 227
Dividends payable
—13
Short-term borrowings
Affiliates
30 —
Other 492 454
Current portion of long-term debt —275
Accrued gas cost recovery refund —70
Other
73 77
811 1,149
Lon
g
-Term Debt (net of current
p
ortion)
889 440
Other Liabilities
Deferred income taxes
290 195
Regulatory liabilities 609 585
Accrued pension liability — affiliates 13 7
Accrued postretirement liability — affiliates 348 268
Asset retirement obligations 112 109
Other 79 73
1,451 1,237
Commitments and Contingencies (Notes 4 and 10)
Shareholder’s E
uit
Common stock, $1 par value, 15,100,000 shares authorized, 10,300,000 shares issued and outstanding 509 447
Retained earnings
377 336
Accumulated other comprehensive loss (2)(1)
884 782
Total Liabilities and Shareholder’s E
uit
$4,035 $3,608