Earnings Per Share

3 Months Ended

Mar. 31, 2024

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income, adjusted for income allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares. DTE Energy’s participating securities are restricted shares under the stock incentive program that contain rights to receive non-forfeitable dividends. Performance shares do not receive cash dividends; as such, these awards are not considered participating securities.

The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:


	Three Months Ended March 31,
		2024		2023
		(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company		$	313	$	445

Less: Allocation of earnings to net restricted stock awards		1		1
Net income available to common shareholders — basic		$	312	$	444



Average number of common shares outstanding — basic		206		206



Basic Earnings per Common Share		$	1.51	$	2.16

Diluted Earnings per Share
Net Income Attributable to DTE Energy Company		$	313	$	445

Less: Allocation of earnings to net restricted stock awards		1		1
Net income available to common shareholders — diluted		$	312	$	444



Average number of common shares outstanding — basic		206		206

Average performance share awards		1		—
Average number of common shares outstanding — diluted		207		206



Diluted Earnings per Common Share		$	1.51	$	2.16