Segment and Related Information (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Inter-segment Billing for Goods and Services and Profit (Loss) Financial Data

Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider. Such billing primarily consists of power sales, sale and transportation of natural gas, and renewable natural gas sales in the segments below, as well as charges from Electric to other segments for use of the shared capital assets of DTE Electric.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
	(In millions)
Electric segment(a)	$	17	$	18	$	53	$	54
Gas segment	7		5		15		12
DTE Vantage segment	7		7		58		25
Energy Trading segment	44		21		134		66

	$	75	$	51	$	260	$	157

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(a)Inter-segment billing for the Electric segment relating to Non-utility operations includes $1 million for the three months ended September 30, 2025, and $3 million and $2 million for the nine months ended September 30, 2025 and 2024, respectively.

Profit (loss) financial data of DTE Energy's business segments follows:


	Electric(a)		Gas	DTE Vantage	Energy Trading	Total Reportable Segments		Corporate and Other	Reclassifications and Eliminations	Total
	(In millions)
Three months ended September 30, 2025
Operating Revenues — Utility operations	$	2,037	209	—	—	$	2,246	—	(23)	$	2,223
Operating Revenues — Non-utility operations	$	14	—	163	1,179	$	1,356	—	(52)	$	1,304
Depreciation and amortization	$	390	59	15	—	$	464	—	—	$	464
Interest expense	$	143	33	6	3	$	185	104	(18)	$	271
Interest income	$	(2)	(3)	(21)	(1)	$	(27)	(17)	18	$	(26)
Equity earnings of equity method investees	$	—	—	5	—	$	5	—	—	$	5
Other segment items (pre-tax)(b)	$	1,028	171	141	1,133	$	2,473	2	(75)	$	2,400
Income Tax Expense (Benefit)	$	(14)	(13)	(16)	11	$	(32)	26	—	$	(6)
Net Income (Loss) Attributable to DTE Energy Company	$	506	(38)	33	33	$	534	(115)	—	$	419

Three months ended September 30, 2024
Operating Revenues — Utility operations	$	1,695	230	—	—	$	1,925	—	(22)	$	1,903
Operating Revenues — Non-utility operations	$	2	—	190	840	$	1,032	—	(29)	$	1,003
Depreciation and amortization	$	365	57	14	2	$	438	—	—	$	438
Interest expense	$	128	29	8	4	$	169	97	(14)	$	252
Interest income	$	(1)	(2)	(21)	(2)	$	(26)	(36)	14	$	(48)
Equity earnings of equity method investees	$	—	—	11	—	$	11	1	—	$	12
Other segment items (pre-tax)(b)	$	869	164	134	780	$	1,947		(51)	$	1,896
Income Tax Expense (Benefit)	$	(101)	(5)	11	14	$	(81)	(40)	—	$	(121)
Net Income (Loss) Attributable to DTE Energy Company	$	437	(13)	33	42	$	499	(22)	—	$	477

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(a)The Electric segment consists principally of DTE Electric. Refer to the DTE Electric Consolidated Statements of Operations and the DTE Electric Consolidated Statements of Financial Position for the standalone DTE Electric amounts.

(b)Other segment items include Fuel, purchased power, and gas — utility; Fuel, purchased power, gas, and other — non-utility; Operation and maintenance; Taxes other than income; Asset (gains) losses and impairments, net; Non-operating retirement benefits, net; Other income; and Other expenses.


	Electric(a)		Gas	DTE Vantage	Energy Trading	Total Reportable Segments		Corporate and Other	Reclassifications and Eliminations	Total
	(In millions)
Nine months ended September 30, 2025
Operating Revenues — Utility operations	$	5,173	1,401	—	—	$	6,574	—	(65)	$	6,509
Operating Revenues — Non-utility operations	$	23	—	520	4,529	$	5,072	—	(195)	$	4,877
Depreciation and amortization	$	1,152	168	44	3	$	1,367	—	—	$	1,367
Interest expense	$	414	97	22	7	$	540	297	(60)	$	777
Interest income	$	(6)	(9)	(62)	(6)	$	(83)	(51)	60	$	(74)
Equity earnings (losses) of equity method investees	$	—	1	16	—	$	17	(1)	—	$	16
Other segment items (pre-tax)(b)	$	2,716	918	434	4,413	$	8,481	9	(260)	$	8,230
Income Tax Expense (Benefit)	$	(27)	52	(37)	28	$	16	(39)	—	$	(23)
Net Income (Loss) Attributable to DTE Energy Company	$	947	174	103	84	$	1,308	(215)	—	$	1,093

Nine months ended September 30, 2024
Operating Revenues — Utility operations	$	4,772	1,230	—	—	$	6,002	—	(64)	$	5,938
Operating Revenues — Non-utility operations	$	11	—	555	2,610	$	3,176	—	(93)	$	3,083
Depreciation and amortization	$	1,075	166	43	4	$	1,288	—	—	$	1,288
Interest expense	$	371	86	21	11	$	489	259	(45)	$	703
Interest income	$	(6)	(8)	(52)	(12)	$	(78)	(69)	45	$	(102)
Equity earnings of equity method investees	$	—	1	35	—	$	36		—	$	36
Other segment items (pre-tax)(b)	$	2,502	785	415	2,498	$	6,200	5	(157)	$	6,048
Income Tax Expense (Benefit)	$	(45)	47	19	27	$	48	(112)	—	$	(64)
Net Income (Loss) Attributable to DTE Energy Company	$	886	153	74	82	$	1,195	(83)	—	$	1,112

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Other financial data of DTE Energy's business segments follows:


	Electric(a)		Gas	DTE Vantage	Energy Trading	Total Reportable Segments		Corporate and Other	Reclassifications and Eliminations	Total
	(In millions)
September 30, 2025
Investment in equity method investees	$	4	19	85	—	$	108	22	—	$	130
Capital expenditures and acquisitions	$	2,770	440	63	4	$	3,277	—	—	$	3,277
Goodwill	$	1,208	743	25	17	$	1,993	—	—	$	1,993
Total Assets	$	38,137	8,851	2,328	1,010	$	50,326	6,043	(4,341)	$	52,028

December 31, 2024
Investment in equity method investees	$	5	18	82	—	$	105	23	—	$	128
Capital expenditures and acquisitions	$	3,659	740	65	3	$	4,467	—	—	$	4,467
Goodwill	$	1,208	743	25	17	$	1,993	—	—	$	1,993
Total Assets	$	35,400	8,474	2,065	1,159	$	47,098	4,723	(2,975)	$	48,846

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