DTE Energy 2014 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2014 DTE Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 190

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190

• growth of our utility asset base;
• employee engagement;
• cost structure optimization across all business segments;
• cash, capital and liquidity to maintain or improve our financial strength; and
• investments that integrate our assets and leverage our skills and expertise.
We will continue to pursue opportunities to grow our businesses in a disciplined manner if we can secure opportunities that meet our strategic, financial
and risk criteria.

The following sections provide a detailed discussion of the operating performance and future outlook of our segments.


Electric  
$ 484
$ 483
Gas
143
115
Gas Storage and Pipelines
70
61
Power and Industrial Projects
66
42
Energy Trading
(58)
12
Corporate and Other 
(44)
(47)
Income From Continuing Operations Attributable to DTE Energy Company
661
666
Discontinued Operations
—
(56)
Net Income Attributable to DTE Energy Company  
$ 661
$ 610

Our Electric segment consists principally of DTE Electric.
Electric results are discussed below:

Operating Revenues  
$ 5,199
$ 5,293
Fuel and purchased power 
1,668
1,758
Gross Margin 
3,531
3,535
Operation and maintenance 
1,377
1,429
Depreciation and amortization
902
827
Taxes other than income
261
257
Asset (gains) losses and impairments, net 
(3)
(2)
Operating Income 
994
1,024
Other (Income) and Deductions
258
261
Income Tax Expense
252
280
Net Income Attributable to DTE Energy Company  
$ 484
$ 483
Operating Income as a Percent of Operating Revenues
19%
19%
Gross margin increased by $47 million in 2014 and decreased $4 million in 2013. Revenues associated with certain mechanisms and surcharges are
offset by related expenses elsewhere in the Consolidated Statements of Operations.
26