<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-3A-2
Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from
the Provisions of the Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
DTE ENERGY COMPANY
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of
the Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business
of claimant and every subsidiary thereof, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or
indirectly holds an interest.
DTE Energy Company ("Claimant") is a Michigan corporation,
incorporated on January 26, 1995. From the date of its incorporation through
December 31, 1995, Claimant was a wholly owned subsidiary of The Detroit Edison
Company, a Michigan public utility. On January 1, 1996, pursuant to a share
exchange accomplished in accordance with the provisions of the Michigan
Business Corporation Act, all outstanding Common Stock of The Detroit Edison
Company was exchanged on a one-for-one basis for the Common Stock of Claimant.
Thus, as of January 1, 1996, Claimant became a publicly held corporation with
the purpose of holding the outstanding stock of its subsidiaries. Claimant's
address is 2000 2nd Avenue, Detroit, Michigan 48226-1279.
The Detroit Edison Company ("Detroit Edison"), incorporated in
Michigan since 1967, is a Michigan public utility subject to regulation by the
Michigan Public Service Commission and the Federal Energy Regulatory Commission.
It is engaged in the generation, purchase, transmission, distribution and sale
of electric energy in a 7,600 square-mile area in southeastern Michigan. It also
owns and operates a steam heating system in Detroit, Michigan. On January 1,
1996, Detroit Edison became a wholly owned subsidiary of Claimant. Detroit
Edison's address is 2000 2nd Avenue, Detroit, Michigan 48226-1279.
Midwest Energy Resources Company ("MERC") is a Michigan
corporation established on June 5, 1974. MERC is a wholly owned subsidiary
of Detroit Edison and is engaged in operating a coal-transshipment facility in
Superior, Wisconsin.
The Edison Illuminating Company of Detroit ("EIC") is a
Michigan corporation established on May 28, 1886. EIC is a wholly owned
subsidiary of Detroit Edison and holds real estate.
St. Clair Energy Corporation ("St. Clair") is a Michigan
corporation established on August 27, 1906. St. Clair is a wholly owned
subsidiary of Detroit Edison and is engaged in fuel procurement.
MERC, EIC and St. Clair have offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279.
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DTE Energy Resources, Inc., formerly DE Energy Services, Inc.
("DTE ER") is a Michigan corporation established on August 29, 1994. This
corporation became a wholly owned subsidiary of Claimant on January 1, 1996.
DTE ER has offices at 425 S. Main, Ann Arbor, Michigan 48107 and it is engaged
in energy services and landfill gas projects.
DTE Biomass Energy, Inc., formerly Biomass Energy Systems,
Inc., ("DTE Biomass") is a Michigan corporation established on July 15, 1993,
with offices at 425 S. Main, Ann Arbor, Michigan 48107. On January 1, 1995
Biomass became a wholly owned subsidiary of DTE ER and it is engaged in landfill
gas projects.
RES Power, Inc. ("RES") is a Michigan corporation established
on January 6, 1983, with offices at 425 S. Main, Ann Arbor, Michigan 48107. RES
is a wholly owned subsidiary of DTE Biomass and it is engaged in landfill gas
projects.
Sonoma Energy Systems, Inc. ("Sonoma") is a Michigan
corporation established on January 24, 1994, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Sonoma is a wholly owned subsidiary of DTE Biomass and
it is engaged in landfill gas projects.
Riverview Gas Producers, Inc. ("Riverview") is a Michigan
corporation established on August 16, 1993, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Riverview is a wholly owned subsidiary of DTE Biomass
and it is engaged in landfill gas projects.
DTE Arbor Gas Producers, Inc. ("DTE Arbor") is a Michigan
corporation established on July 10, 1996, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. DTE Arbor is a wholly owned subsidiary of DTE Biomass and
it is engaged in landfill gas projects.
Plainville Gas Producers, Inc., formerly Sumpter Gas
Producers, Inc., ("Plainville") is a Michigan corporation established on June 2,
1994, with offices at 425 S. Main, Ann Arbor, Michigan 48107. Plainville is a
wholly owned subsidiary of DTE Biomass and it is engaged in landfill gas
projects.
Belleville Gas Producers, Inc. ("Belleville") is a Michigan
corporation established November 8, 1996 with offices at 425 S. Main, Ann
Arbor, Michigan, 48107. Belleville is a wholly owned subsidiary of DTE Biomass
and it is engaged in landfill gas projects.
Escambia Gas Producers, Inc., formerly ESCA Gas Producers,
Inc., ("Escambia") is a Michigan corporation established November 18, 1996, with
offices at 425 S. Main, Ann Arbor, Michigan 48107. Escambia is a wholly owned
subsidiary of DTE Biomass and it is engaged in landfill gas projects.
Fayetteville Gas Producers, L.L.C., formerly Fayetteville Gas
Company, L.L.C. ("Fayetteville") is a North Carolina company formed October 20,
1994. DTE Biomass purchased an 100% interest in Fayetteville on December 1,
1997. Offices are located at 425 S. Main, Ann Arbor, Michigan 48107.
Fayetteville is a wholly owned subsidiary of DTE Biomass and it is engaged in
landfill gas projects.
Lycoming Gas Producers, Inc. ("Lycoming") is a Michigan
corporation established August 18, 1997, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Lycoming is a wholly owned subsidiary of DTE Biomass and it is
engaged in landfill gas projects.
Roxana Gas Producers, Inc. ("Roxana") is a Michigan
corporation established August 18, 1997, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Roxana is a wholly owned subsidiary of DTE Biomass and
it is engaged in landfill gas projects.
2
<PAGE> 3
Orlando Gas Producers, Inc. ("Orlando"), is a Michigan
corporation established February 8, 1994, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Orlando is a wholly owned subsidiary of DTE Biomass and
is engaged in landfill gas projects.
Birmingham Gas Producers, L.L.C. ("Birmingham"), is a Michigan
corporation established April 13, 1998, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Birmingham is a wholly owned subsidiary of DTE Biomass and is
engaged in landfill gas projects.
Montgomery Gas Producers, L.L.C. ("Montgomery"), is a
Michigan corporation established April 13, 1998, with offices at
425 S. Main, Ann Arbor, Michigan 48107. Montgomery is a wholly owned subsidiary
of DTE Biomass and is engaged in landfill gas projects.
Oklahoma Gas Producers, L.L.C. ("Oklahoma"), is a Michigan
corporation established April 13, 1998, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Oklahoma is a wholly owned subsidiary of DTE Biomass and is
engaged in landfill gas projects.
Phoenix Gas Producers, L.L.C. ("Phoenix"), is a Michigan
corporation established April 13, 1998, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Phoenix is a wholly owned subsidiary of DTE Biomass and is
engaged in landfill gas projects.
Wake Gas Producers, L.L.C. ("Wake"), is a North Carolina
corporation established October 3, 1997, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Wake is a wholly owned subsidiary of DTE Biomass and is engaged
in landfill gas projects.
DTE Energy Services, Inc., formerly Edison Energy Services,
Inc., ("DTE ES") is a Michigan corporation established on June 29, 1994, with
offices at 425 S. Main, Ann Arbor, Michigan 48107. DTE ES is a wholly owned
subsidiary of DTE ER and it is engaged in energy services activities.
PCI Enterprises Company ("PCI") is a Michigan corporation
established on August 1, 1995, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. PCI is a wholly owned subsidiary of DTE ES and it operates a
pulverized coal facility.
EES Coke Battery Company, Inc. ("EES Coke") is a Michigan
corporation established on October 29, 1996, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. EES Coke is a wholly owned subsidiary of DTE ES and it
operates a coke battery facility.
DTE Indiana Harbor, L.L.C. ("Indiana Harbor") is a Delaware
corporation established January 26, 1998, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Indiana Harbor is 75% owned by DTE ES and
25% owned by DTE ES Holdings, Inc. Indiana Harbor is a holding company.
DTE BH Holdings, Inc. (DTE BH") is a Delaware corporation
established July 6, 1998, with offices at 425 S. Main, Ann Arbor, Michigan
48107. DTE BH is a wholly owned subsidiary of DTE ES and is a holding company.
Burns Harbor Coke Energy Company, Inc. ("Burns Harbor") is a
Delaware corporation established June 8, 1998, with offices at 425 S. Main,
Ann Arbor, Michigan 48107. Burns Harbor is a wholly owned subsidiary of DTE BH
and is a holding company.
DTE Burns Harbor, L.L.C. ("DTE Burns Harbor") is a Delaware
corporation established February 25, 1998, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. DTE Burns Harbor is 88% owned by Burns Harbor and 12%
owned by DTE BH and operates a coke battery facility.
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DTE Coal Services, Inc. ("DTE Coal") is a Michigan corporation
established on July 10, 1996, with offices at 425 S. Main, Ann Arbor, Michigan
48107. DTE Coal is a wholly owned subsidiary of DTE ER and it is engaged in
selling and transporting coal to third parties.
DTE Rail Services, Inc., formerly DTE CS Rail Services, Inc.,
("DTE Rail") is a Michigan Corporation established November 18, 1997, with
offices at 425 S. Main, Ann Arbor, Michigan 48107. DTE Rail is a wholly owned
subsidiary of DTE Coal and it is engaged in rail car repair and maintenance.
DTE Transportation Services, Inc. ("DTE Transportation") is a
Michigan corporation established May 19,1998, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. DTE Transportation is a wholly owned subsidiary of DTE
Rail and is engaged in rail shipment management and logistics, short line
railroad management, rail car trading and brokering, and rail car leasing.
DTE Capital Corporation ("DTE Capital") is a Michigan
corporation established on September 6, 1995. This corporation became a wholly
owned subsidiary of Claimant on January 1, 1996. DTE Capital has offices
at 2000 2nd Avenue, Detroit, Michigan 48226-1279, and it provides financial
services for the non-utility affiliates of Claimant.
Syndeco Realty Corporation ("Syndeco") is a Michigan
corporation established on August 22, 1986. This corporation became a
wholly owned subsidiary of Claimant on January 1, 1996. Syndeco has offices
at 2000 2nd Avenue, Detroit, Michigan 48226-1279, and it is engaged in real
estate projects.
Edison Development Corporation ("EDC") is a Michigan
corporation established on May 24, 1994. This corporation became a
wholly owned subsidiary of Claimant on January 1, 1996. EDC has offices at
2000 2nd Avenue, Detroit, Michigan 48226-1279 and it is engaged in business
development.
EdVenture Capital Corp. ("EdVenture") is a Michigan
Corporation established on May 24, 1994, with offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279. EdVenture is a wholly owned subsidiary of EDC
and it is engaged in equity investment.
Wolverine Energy Services, Inc. ("Wolverine") is a Michigan
corporation established September 6, 1995, with offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279. Wolverine is a wholly owned subsidiary of Claimant
and is a holding company.
DTE Edison America Catalog Sales, Inc. ("Catalog") is a
Michigan corporation established April 13, 1998, with offices at 2000 2nd
Avenue, Detroit, Michigan 48226-1279. Catalog is a wholly owned subsidiary of
Wolverine and is engaged in a multi-state retail catalog business for energy
related products.
DTE Edison America, Inc. ("Edison America") is a Michigan
corporation established April 13, 1998, with offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279. Edison America is a wholly owned subsidiary of
Wolverine and is engaged in energy and energy related products.
DTE Energy Solutions, Inc. ("Solutions") is a Michigan
corporation established April 10, 1998, with offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279. Solutions is a wholly owned subsidiary of
Wolverine and is engaged in system based energy related products and services.
4
<PAGE> 5
DTE Energy Technologies, Inc. ("Technologies") is a Michigan
corporation established March 18, 1997, with offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279. Technologies is a wholly owned subsidiary of
Wolverine and is engaged in energy solutions for industrial, commercial and
small businesses.
DTE Energy Trading, Inc., formerly Huron Energy Services, Inc.,
("DTE Energy Trading") is a Michigan corporation established on September 6,
1995. DTE Energy Trading has offices at 101 N. Main, Ann Arbor, Michigan 48104
and it is engaged in wholesale and retail energy marketing. DTE Energy Trading
became a wholly owned subsidiary of DTE ER on November 30, 1998.
DTE Engineering Services, Inc., formerly UTS Systems, Inc.,
("DTE Engineering Services") is a Michigan corporation established on April 23,
1985. This corporation became a wholly owned subsidiary of Claimant on January
1, 1996. DTE Engineering Services has offices at 2000 2nd Avenue, Detroit,
Michigan 48226-1279 and it is engaged in professional engineering services.
Great Lakes Energy Products, Inc. ("Great Lakes") is a
Michigan corporation established December 30, 1996, with offices at 2000 2nd
Avenue, Detroit, Michigan 48226-1279. Great Lakes became a wholly owned
subsidiary of DTE Energy Trading on November 30, 1998, and is engaged in equity
investment.
DTE Marketing, Inc., formerly DTE Edison America, Inc., ("DTE
Marketing") is a Michigan corporation established on October 16, 1996, with
offices at 2000 2nd Avenue, Detroit, Michigan 48226-1279. DTE Marketing was
engaged in the dissolution of its affairs during 1998.
2. A brief description of the properties of Claimant and each of
its subsidiary public utility companies used for the generation, transmission,
and distribution of electric energy for sale, or for the production,
transmission, and distribution of natural or manufactured gas, indicating the
location of principal generating plants, transmission lines, producing fields,
gas manufacturing plants, and electric and gas distribution facilities,
including all such properties which are outside the State in which Claimant and
its subsidiaries are organized and all transmission or pipelines which deliver
or receive electric energy or gas at the borders of such State.
5
<PAGE> 6
Claimant - none
The Detroit Edison Company maintains the following generating facilities which
are located in the State of Michigan, as follows:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------
Location By
Michigan Summer Net Rated Year
Plant Name County Capability (1) (2) (3) in Service
---------------------------------------------------------------------------------------------------------------------------
(MW)
<S> <C> <C> <C> <C>
Fossil-fueled Steam-Electric
Belle River (4) St. Clair 1,026 10.0% 1984 and 1985
Greenwood St. Clair 785 7.6 1979
Harbor Beach Huron 103 1.0 1968
Marysville St. Clair 167 1.6 1930,1943 and 1947
Monroe (5) Monroe 3,000 29.2 1971,1973 and 1974
River Rouge Wayne 510 5.0 1957 and 1958
St. Clair St. Clair 1,406 13.7 1953,1954,1961 and 1969
Trenton Channel Wayne 725 7.1 1949,1950 and 1968
------------------------
7,722 75.2%
Oil or Gas-fueled Peaking
Units (6) Various 525 5.1 1966-1971 and 1981
Nuclear-fueled Steam-Electric
Fermi 2 (7) Monroe 1,098 10.7 1988
Hydroelectric Pumped Storage
Ludington (8) Mason 917 9.0 1973
------------------------
10,262 100.0%
========================
</TABLE>
(1) Summer net rated capabilities of generating units in service are based on
periodic load tests and are changed depending on operating experience,
the physical condition of units, environmental control limitations and
customer requirements for steam, which otherwise would be used for
electric generation.
(2) Excludes two oil-fueled units, River Rouge Unit No. 1 (206 MW) and St.
Clair Unit No. 5 (250 MW), in economy reserve status.
(3) Excludes Conners Creek (236 MW)
(4) The Belle River capability represents Detroit Edison's entitlement to
81.39% of the capacity and energy of the plant.
(5) The Monroe Power Plant provided approximately 35% of Detroit Edison's
total 1998 power plant generation.
(6) Detroit Edison has made arrangements for the purchase of gas-fueled
peakers which are expected to contribute 550 MW of generation by the
summer of 1999.
(7) Fermi 2 has a design electrical rating (net) of 1,150 MW.
(8) Represents Detroit Edison's 49% interest in Ludington with a total
capability of 1,872 MW. Detroit Edison is leasing 306 MW to First Energy
for the six-year period June 1, 1996 through May 31, 2002.
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<PAGE> 7
Detroit Edison and Consumers Power Company are parties to an Electric
Coordination Agreement providing for emergency assistance, coordination of
operations and planning for bulk power supply, with energy interchanged at nine
interconnections. Detroit Edison and Consumers Power Company also have
interchange agreements to exchange electric energy through 12 interconnections
with First Energy, Indiana Michigan Power Company, Northern Indiana Public
Service Company and Ontario Hydro. In addition, Detroit Edison has interchange
agreements for the exchange of electric energy with Michigan South Central Power
Agency, Rouge Steel Company and the City of Wyandotte.
Transmission and Distribution. Detroit Edison owns and operates
within the State of Michigan 610 distribution substations with a capacity of
17,736,300 kilovolt amperes and 415,172 line transformers with a capacity of
19,669,523 kilovolt amperes. Electric transmission and distribution lines
owned and in service as of December 31, 1998 are as follows:
<TABLE>
<CAPTION>
Overhead Lines Underground Lines
-------------------- ------------------
Conduit
Pole Circuit Bank Cable
Design Line Voltage-KV Miles Miles Miles Miles
- ---------------------- ------ ------- ------- -----
<S> <C> <C> <C> <C>
Transmission-
120 KV 1,095 1,610 - 163
140 KV 31 31 - -
230 KV 77 87 - -
345 KV 525 954 - 7
------ ----- ----- ------
1,728 2,682 - 170
=====
Distribution-
Under 4.8 KV - 63 274
4.8 KV and 13.2 KV 31,429 437 12,836
24 KV 105 257 1,043
40 KV 2,773 91 331
120 KV 53 - 16
------ ----- ------
34,360 848 14,500
------ ----- ------
Grand Total 36,088 848 14,670
====== ===== ======
</TABLE>
7
<PAGE> 8
3. The following information for the last calendar year with
respect to Claimant and each of its subsidiary public utility companies:
(a) Number of kwh. of electric energy sold (at retail or
wholesale), and Mcf. of natural or manufactured gas distributed at retail.
<TABLE>
<CAPTION>
Claimant - None
Detroit Edison - Kwh State Revenues
---------------------- ------------------ ---------------------
<S> <C> <C>
54,912,598,000 Michigan $ 3,808,971,042
====================== =====================
</TABLE>
(b) Number of kwh. of electric energy and Mcf. of natural or
manufactured gas distributed at retail outside the State in which each such
company is organized.
Claimant - None
Detroit Edison - None
(c) Number of kwh. of electric energy and Mcf. of natural or
manufactured gas sold at wholesale outside the State in which each such company
is organized, or at the State line.
<TABLE>
<CAPTION>
Claimant - None
Detroit Edison - Kwh State Revenues
---------------------- ------------------ ---------------------
<S> <C> <C>
1,750,327,000 Ontario, Canada $ 30,353,379
54,746,000 Ohio 22,325,472
214,895,000 Indiana 39,617,618
83,329,000 Michigan 9,284,290
---------------------- ---------------------
2,103,297,000 $ 101,580,759
====================== =====================
</TABLE>
(d) Number of kwh. of electric energy and Mcf. of natural or
manufactured gas purchased outside the State in which each such company is
organized or at the State line.
<TABLE>
<CAPTION>
Claimant - None
Detroit Edison - Kwh State Expenses
---------------------- ------------------ ---------------------
<S> <C> <C>
1,168,934,000 Ontario, Canada $ 46,381,391
279,295,000 Ohio 17,614,611
3,663,405,000 Indiana 161,547,449
2,500,000 Michigan 490,918
---------------------- ---------------------
5,114,134,000 $ 226,034,369
====================== =====================
</TABLE>
4. The following information for the reporting period with
respect to Claimant and each interest it holds directly or indirectly in an EWG
or a foreign utility company, stating monetary amounts in United States
dollars:
Not applicable.
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the generation,
transmission and distribution of electric energy for sale or for the
distribution at retail of natural or manufactured gas.
(b) Name of each system company that holds an interest in such EWG
or foreign utility company; and description of the interest held.
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<PAGE> 9
(c) Type and amount of capital invested, directly or indirectly,
by the holding company claiming exemption; any direct or indirect guarantee of
the security of the EWG or foreign utility company by the holding company
claiming exemption; and any debt or other financial obligation for which there
is recourse, directly or indirectly, to the holding company claiming exemption
or another system company, other than the EWG or foreign utility company.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
(e) Identify any service, sales or construction contract(s)
between the EWG or foreign utility company and a system company, and describe
the services to be rendered or goods sold and fees or revenues under such
agreement(s).
EXHIBIT A
A consolidating statement of income and surplus of the Claimant and certain of
its subsidiary companies for the calendar year 1998, together with a
consolidating balance sheet of Claimant and certain of its subsidiary companies
as of the close of such calendar year follows.
EXHIBIT B
A Financial Data Schedule for the Claimant follows as Exhibit B.
EXHIBIT C
Not applicable.
The above-named Claimant has caused this statement to be duly executed
on its behalf by its authorized officer on this 26th day of February, 1999.
DTE Energy Company
--------------------------
(Name of Claimant)
By /s/ DAVID E. MEADOR
------------------------
David E. Meador
Vice President
and Controller
CORPORATE SEAL
Attest:
/s/ SUSAN M. BEALE
- --------------------------
Susan M. Beale
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Susan M. Beale, Vice President and Corporate Secretary
- ------------------------------------------------------
(Name) (Title)
2000 2nd Avenue, Detroit, Michigan 48226-1279
- ---------------------------------------------
(Address)
9
<PAGE> 10
DTE ENERGY COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
Thousands of Dollars
<TABLE>
<CAPTION>
Inter-company
The Detroit Eliminations DTE
Edison DTE and Energy
Company Capital Other Reclass- Company
Consolidated Corporation Subsidiaries ifications Consolidated
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ASSETS
Current Assets
Cash and cash equivalents $ 5,045 $ 118,773 $ 6,737 $ 241 $ 130,796
Restricted cash - - 120,628 - 120,628
Accounts receivable
Customer 306,892 - 9,160 - 316,052
Accrued unbilled revenues 153,144 - - - 153,144
Other 90,553 8,837 42,014 (6,424) 134,980
Inventories
Fuel 170,794 - - - 170,794
Materials and supplies 137,584 - 29,156 (94) 166,646
Other 20,633 - 17,641 94 38,368
------------------------------------------------------------------------------------
Total current assets 884,645 127,610 225,336 (6,183) 1,231,408
------------------------------------------------------------------------------------
Investments
Nuclear decommissioning trust funds 308,795 - - - 308,795
Other 74,238 333,585 3,939,460 (4,086,167) 261,116
------------------------------------------------------------------------------------
Total investments 383,033 333,585 3,939,460 (4,086,167) 569,911
------------------------------------------------------------------------------------
Property, Plant and Equipment
Property, plant and equipment 10,610,337 - 511,479 (474) 11,121,342
Property under capital leases 241,821 - 444 - 242,265
Nuclear fuel under capital lease 659,004 - - - 659,004
Construction work in progress 117,996 - 37,480 - 155,476
Less: accumulated depreciation and
amortization (5,201,549) - (33,475) - (5,235,024)
------------------------------------------------------------------------------------
Total property, plant and equipment 6,427,609 - 515,928 (474) 6,943,063
------------------------------------------------------------------------------------
Regulatory Assets 3,091,106 - - - 3,091,106
Other Assets 200,121 4,212 47,586 - 251,919
------------------------------------------------------------------------------------
TOTAL ASSETS $ 10,986,514 $ 465,407 $ 4,728,310 $ (4,092,824) $ 12,087,407
====================================================================================
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable $ 211,025 $ - $ 28,596 $ - $ 239,621
Accrued interest 54,189 2,686 - (159) 56,716
Dividends payable 79,816 - 74,714 (79,816) 74,714
Accrued payroll 85,759 - 15,094 - 100,853
Short-term borrowings 230,835 - - - 230,835
Deferred income taxes 59,970 - (161) - 59,809
Current portion long-term debt 219,214 - 74,438 - 293,652
Current portion capital leases 118,076 - - - 118,076
Other 202,745 373 30,098 (15,542) 217,674
------------------------------------------------------------------------------------
Total current liabilities 1,261,629 3,059 222,779 (95,517) 1,391,950
------------------------------------------------------------------------------------
Other Liabilities
Deferred income taxes 1,845,511 - 42,179 - 1,887,690
Capital leases 126,737 - - - 126,737
Regulatory liabilities 293,230 - - - 293,230
Other 484,396 - 27,456 (18,403) 493,449
------------------------------------------------------------------------------------
Total other liabilities 2,749,874 - 69,635 (18,403) 2,801,106
------------------------------------------------------------------------------------
Long-Term Debt 3,461,856 400,000 334,781 - 4,196,637
------------------------------------------------------------------------------------
Shareholders' Equity
Common stock 1,951,437 50,000 2,295,794 (2,346,650) 1,950,581
Retained earnings (deficit) 1,561,718 12,348 1,805,321 (1,632,254) 1,747,133
------------------------------------------------------------------------------------
Total shareholder's equity 3,513,155 62,348 4,101,115 (3,978,904) 3,697,714
------------------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 10,986,514 $ 465,407 $ 4,728,310 $ (4,092,824) $ 12,087,407
====================================================================================
</TABLE>
10
<PAGE> 11
DTE ENERGY COMPANY
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1998
Thousands of Dollars
<TABLE>
<CAPTION>
Inter-company
The Detroit Eliminations DTE
Edison DTE and Energy
Company Capital Other Reclass- Company
Consolidated Corporation Subsidiaries ifications Consolidated
-------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
RETAINED EARNINGS (DEFICIT) AT
DECEMBER 31, 1997 $ 1,477,217 $ 4,495 $ 1,638,855 $ (1,598,464) $ 1,612,103
Net income (loss) 411,178 7,874 487,743 (463,783) 443,012
Retirement of common stock - - (357) - (357)
Deduct:
Cash dividends on common stock (319,264) - (319,857) 340,264 (298,857)
Expense associated with preferred
stock redeemed (5,717) - - - (5,717)
Cash dividends on cumulative preferred stock - - - - -
Other (1,696) (21) (1,063) (271) (3,051)
-------------------------------------------------------------------------
RETAINED EARNINGS (DEFICIT) AT
DECEMBER 31,1998 $ 1,561,718 $ 12,348 $ 1,805,321 $ (1,632,254) $ 1,747,133
=========================================================================
DTE ENERGY COMPANY
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1998
Thousands of Dollars
<CAPTION>
Inter-company
The Detroit Eliminations DTE
Edison DTE and Energy
Company Capital Other Reclass- Company
Consolidated Corporation Subsidiaries ifications Consolidated
--------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
OPERATING REVENUES $ 3,901,595 $ - $ 325,069 $ (5,613) $ 4,221,051
OPERATING EXPENSES
Fuel and purchased power 1,021,261 - 42,060 (425) 1,062,896
Operation and maintenance 997,921 760 294,893 (5,188) 1,288,386
Depreciation and amortization 642,893 - 18,474 661,367
Taxes other than income 270,035 348 1,489 271,872
-------------------------------------------------------------------------
Total operating expenses 2,932,110 1,108 356,916 (5,613) 3,284,521
-------------------------------------------------------------------------
OPERATING INCOME (LOSS) 969,485 (1,108) (31,847) - 936,530
-------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 277,003 17,073 54,495 (30,107) 318,464
Preferred stock dividends of subsidiary 6,395 - - - 6,395
Other - net 15,193 (30,275) (464,066) 493,890 14,742
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Total interest expense and other 298,591 (13,202) (409,571) 63,783 339,601
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INCOME (LOSS) BEFORE TAXES 670,894 12,094 377,724 463,783) 596,929
INCOME TAXES 259,716 4,220 (110,019) - 1 53,917
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NET INCOME (LOSS) $ 411,178 $ 7,874 $ 487,743 $ (463,783) $ 443,012
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Common Shares Outstanding - Average (Thousands) 145,076
Earnings Per Share of Common Stock $ 3.05
</TABLE>
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DTE ENERGY COMPANY
NOTES TO CONSOLIDATING FINANCIAL STATEMENTS
Entities for which financial statements are not presented.
The following affiliates of the Claimant have had no financial activity during
the calendar year 1998. Accordingly, financial information for these companies
is not provided.
DTE Center Point, Inc.
Great Lakes Energy Producers, Inc.
Great Lakes Energy Services, Inc.
Superior Energy Services, Inc.
This report does not contain information for affiliates of the Claimant which
are accounted for using the equity method.
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EXHIBIT B
Financial Data Schedule
This schedule contains summary financial information extracted from DTE Energy
Company's consolidated balance sheet and statement of income as of December 31,
1998 contained herein and is qualified in its entirety by reference to such
financial statements.
Multiplier 1,000
Period Type Year
Fiscal Year End December 31, 1998
Period End December 31, 1998
Total Assets $12,087,407
Total Operating Revenues $ 4,221,051
Net Income $ 443,012
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
Not Applicable
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