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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 22, 1996
Commission Exact Name of Registrant as I.R.S. Employer
File Number Specified in its Charter Identification No.
- ----------- ------------------------ ------------------
1-11607 DTE Energy Company
(a Michigan corporation) 38-3217752
2000 2nd Avenue
Detroit, Michigan 48226-1279
313-235-4000
1-2198 The Detroit Edison Company
(a Michigan corporation) 38-0478650
2000 2nd Avenue
Detroit, Michigan 48226-1279
313-235-8000
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ITEM 5. OTHER EVENTS.
In March 1995, the Financial Accounting Standards Board issued
Statement of Financial Accounting Standards ("SFAS") No. 121, "Accounting for
the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed
Of." This statement requires that long-lived assets be reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount
of an asset may not be recoverable.
DTE Energy Company adopted SFAS No. 121 in the fourth quarter of 1995.
As the result of continuing losses in the operation of The Detroit Edison
Company's ("Detroit Edison") steam heating business, upon adoption of SFAS No.
121, Detroit Edison wrote off the remaining net book value of its steam heating
plant assets. This resulted in a non-cash loss of $42 million ($32 million
after-tax) or $0.22 per common share.
Based on current market conditions, the steam heating operations
continue to generate losses. Therefore, Detroit Edison will continue to review
its steam heating operations to determine what actions, if any, may be
necessary.
Detroit Edison is a wholly-owned subsidiary of DTE Energy Company.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrants have duly caused this report to be signed on their behalf by
the undersigned, hereunto duly authorized.
DTE ENERGY COMPANY
By: /s/ Ronald W. Gresens
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Ronald W. Gresens
Vice President and Controller
THE DETROIT EDISON COMPANY
BY: /s/ Ronald W. Gresens
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Ronald W. Gresens
Vice President and Controller
Date: January 22, 1996
