Earnings Per Share

9 Months Ended

Sep. 30, 2015

EARNINGS PER SHARE

DTE Energy reports both basic and diluted earnings per share. The calculation of diluted earnings per share assumes the issuance of potentially dilutive common shares outstanding during the period from the exercise of stock options. A reconciliation of both calculations is presented in the following table for the three and nine months ended September 30:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company	$	265	$	156	$	647	$	606
Average number of common shares outstanding	179		177		179		177
Dividends declared — common shares	$	131	$	122	$	378	$	353
Dividends declared — net restricted shares	—		—		1		1
Total distributed earnings	$	131	$	122	$	379	$	354
Net Income less distributed earnings	$	134	$	34	$	268	$	252
Distributed (dividends per common share)	$	0.73	$	0.69	$	2.11	$	2.00
Undistributed	0.74		0.19		1.50		1.42
Total Basic Earnings per Common Share	$	1.47	$	0.88	$	3.61	$	3.42
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company	$	265	$	156	$	647	$	606
Average number of common shares outstanding	180		177		179		177
Dividends declared — common shares	$	131	$	122	$	378	$	353
Dividends declared — net restricted shares	—		—		1		1
Total distributed earnings	$	131	$	122	$	379	$	354
Net Income less distributed earnings	$	134	$	34	$	268	$	252
Distributed (dividends per common share)	$	0.73	$	0.69	$	2.11	$	2.00
Undistributed	0.74		0.19		1.50		1.42
Total Diluted Earnings per Common Share	$	1.47	$	0.88	$	3.61	$	3.42