File No: 69-352
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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
For The Year Ended December 31, 2001
DTE ENERGY COMPANY
AND
DTE ENTERPRISES, INC.
and
MICHCON HOLDINGS, INC.
hereby file jointly with the Securities and Exchange Commission (SEC), pursuant
to Rule 2, their statement claiming exemptions as holding companies from the
provisions of the Public Utility Holding Company Act of 1935 (PUHCA of 1935),
and submit the following information:
I. NATURE OF BUSINESS OF CLAIMANT AND EVERY SUBSIDIARY THEREOF
DTE Energy Company ("Company" or "DTE") is a Michigan corporation,
incorporated on January 26, 1995. From the date of its incorporation through
December 31, 1995, the Company 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 the
Company. Thus, as of January 1, 1996, the Company became a publicly held
corporation. The Company's address is 2000 2nd Avenue, Detroit, Michigan
48226-1279.
On May 31, 2001, DTE completed the acquisition of MCN Energy Group Inc.
(MCN), and under the terms of the merger agreement, DTE acquired all outstanding
shares of MCN common stock. The acquisition by DTE was accounted for using the
purchase method. MCN was merged into DTE Enterprises, Inc. (DTEE) on May 31,
2001, and DTEE was the surviving corporation. DTEE is primarily involved in
natural gas production, gathering, processing, transmission, storage,
distribution and marketing in the Midwest-to-Northeast corridor. DTEE is
organized under the laws of the state of Michigan and has its principal
executive offices at 2000 2nd Avenue, Detroit, Michigan 48226-1279.
A. DTE Energy Resources, Inc. ("DTE ER") is a Michigan corporation established
on August 29, 1994. This corporation became a wholly owned subsidiary of
the Company on January 1, 1996. DTE ER has offices at 425 S. Main, Ann
Arbor, Michigan 48107 and it is engaged in energy services, electric
generation, electric and gas marketing and trading and landfill gas
projects.
1
1. DTE Biomass Energy, 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.
a. 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.
b. Birmingham Gas Producers, L.L.C.* ("Birmingham"), is a Michigan company
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.
c. Coopersville Gas Producers, L.L.C. ("Coopersville"), is a Michigan
company established May 1, 1997, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Coopersville is a wholly owned subsidiary of DTE
Biomass and is engaged in landfill gas projects.
d. 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.
e. 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.
f. 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.
g. Fort Worth Gas Producers, L.L.C. ("Fort Worth") is a Michigan company
established December 5, 1995, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Fort Worth is a 50% owned subsidiary of DTE Biomass and
is engaged in landfill gas projects.
h. Hillside Gas Producers, L.L.C. ("Hillside") is a Michigan company
established May 7, 1999, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Hillside is a wholly owned subsidiary of DTE Biomass
and is engaged in landfill gas projects.
i. Kansas City Gas Producers, L.L.C. ("Kansas City") is a Michigan company
established March 8, 2000, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Kansas City is a wholly owned subsidiary of DTE Biomass
and is engaged in landfill gas projects.
j. 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.
k. Montgomery Gas Producers, L.L.C. ("Montgomery"), is a Michigan company
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.
l. Oklahoma Gas Producers, L.L.C. ("Oklahoma"), is a Michigan company
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.
m. 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.
n. Phoenix Gas Producers, L.L.C. ("Phoenix"), is a Michigan company
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.
o. 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.
p. Polk Gas Producers, L.L.C. ("Polk") is a Michigan corporation
established on June 20, 2000, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Polk is a 99% owned subsidiary of DTE Biomass and it is
engaged in landfill gas projects.
q. 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.
* L.L.C. (Limited Liability Company) denotes limited liability.
2
r. 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.
s. 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.
t. 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.
u. South Side Gas Producers, L.L.C. ("South Side") is a Michigan company
established December 29, 1999, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. South Side is a wholly owned subsidiary of DTE Biomass
and is engaged in landfill gas projects.
v. Wake Gas Producers, L.L.C. ("Wake") is a North Carolina company
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.
w. Westside Gas Producers, L.L.C. ("Westside") is a Michigan company
established May 7, 1999, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Westside is a wholly owned subsidiary of DTE Biomass
and is engaged in landfill gas projects.
x. Wichita gas producers, L.L.C. ("Wichita"), formerly BES/LES Gas
Producers I, L.L.C., is a Michigan company with offices at 425 S. Main,
Ann Arbor, Michigan 48107. Wichita is a 90% owned subsidiary of DTE
Biomass and is engaged in acquiring rights to, developing, collecting
and selling landfill gas and related constituent products.
y. Winston Gas Producers, L.L.C. ("Winston") is a North Carolina company
established May 31, 1994, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Winston is a 99% owned subsidiary of DTE Biomass and is
engaged in landfill gas projects.
2. 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
48107 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.
3. DTE Energy Marketing, Inc., formerly Great Lakes Energy Products, Inc.
("DTE Energy Marketing") is a Michigan corporation established December 30,
1996 with offices at 2000 2nd Avenue, Detroit, Michigan 48226-1279. DTE
Energy Marketing became a wholly owned subsidiary of DTE ER on July 22,
1999, and is engaged in retail sales of electricity.
4. DTE Generation, Inc. ("DTE Generation") is a Michigan corporation
established July 31, 1998, with offices at 2000 2nd Avenue, Detroit,
Michigan 48226-1279. DTE Generation is a wholly owned subsidiary of DTE ER
and is a holding company.
5. 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.
a. DTE ES Holdings, Inc. ("DTE ES Holdings") is a Michigan corporation
established August 28, 1997, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. DTE ES Holdings is a wholly owned subsidiary of DTE ES
and is a holding company
(1) DTE Indiana Harbor, L.L.C. ("Indiana Harbor") is a Delaware
company 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 and is a holding company.
b. 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.
c. CBC I, L.L.C. ("CBC") is a Delaware company established September 29,
2000, with offices at 425 S. Main, Ann Arbor, Michigan 48107. CBC is a
wholly owned subsidiary of DTE ES and is a holding company.
3
d. EES Coke Battery, L.L.C. ("EES") is a Michigan corporation established
on October 3, 2000, with offices at 425 S. Main, Ann Arbor, Michigan
48107. EES is 99.5% owned by DTE ES and .5% by CBC I, L.L.C. and is
engaged in coke supply.
e. 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.
f. 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.
(1) 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.
(a.) DTE Burns Harbor, L.L.C. ("DTE Burns Harbor") is a
Delaware company established February 25, 1998, with
offices at 425 S. Main, Ann Arbor, Michigan 48107. DTE
Burns Harbor is 39% owned by Burns Harbor and 12% owned by
DTE BH and operates a coke battery facility.
g. DTE Sparrows Point Operations, Inc. ("Sparrows Point Operations") is a
Michigan Corporation established August 31, 1998, with offices at 425
S. Main, Ann Arbor, Michigan 48107. Sparrows Point Operations is a
wholly owned subsidiary of DTE ES, and is engaged in the operation of
pulverized coal injection facilities.
h. DTE Sparrows Point Holdings, L.L.C. ("Sparrows Point Holdings") is a
Delaware company established April 26, 2000, with offices at 425 S.
Main, Ann Arbor, Michigan 48107. Sparrows Point Holdings is a wholly
owned subsidiary of DTE ES, and is a holding company.
i. DTE Georgetown Holdings, Inc. is a Delaware corporation established
December 14, 2000, with offices at 425 S. Main, Ann Arbor, Michigan
48107. DTE Georgetown Holdings Inc. is a wholly owned subsidiary of DTE
ES, and is a holding company.
j. DTE Georgetown, L.P. ("Georgetown"), is a Delaware partnership
established December 19, 2000, with offices at 425 S. Main, Ann Arbor,
Michigan 48107 Georgetown was formerly a Delaware company established
September 8, 1999, with offices at 425 S. Main, Ann Arbor, Michigan
48107. Georgetown is a 99% owned subsidiary of DTE ES and 1% owned by
DTE Georgetown Holdings, Inc. and is engaged in the generation of
electricity.
k. DTE Northwind Operations, L.L.C. ("Northwind Operations") is a Michigan
company established October 8, 1999, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Northwind Operations is a wholly owned
subsidiary of DTE ES and handles the operation and maintenance of
Northwind.
l. DTE Northwind, L.L.C. ("Northwind") is a Delaware company established
September 3, 1998, with offices at 425 S. Main, Ann Arbor, Michigan
48107. Northwind is a wholly owned subsidiary of DTE ES and operates a
chilled water plant.
m. DTE Sparrows Point, L.L.C. ("Sparrows Point") is a Delaware company
established August 31, 1998, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Sparrows Point is a wholly owned subsidiary of DTE ES
and is engaged in the operation of a pulverized coal injection plant.
n. DTE Synfuels, L.L.C. ("Synfuels") is a Delaware company established
November 11, 1999, with offices at 425 S. Main, Ann Arbor, Michigan
48107. Synfuels is a wholly owned subsidiary of DTE ES and is a holding
company for synfuels projects.
(1) DTE Buckeye Operations, L.L.C. ("Buckeye") is a Delaware company
established November 15, 2001, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Buckeye is a wholly owned subsidiary of
Synfuels and is engaged in synthetic fuel machine operations.
4
(2) DTE Synfuel Partners, L.L.C. ("Synfuel Partners") is a Delaware
company established December 7, 1999, with offices at 425 S.
Main, Ann Arbor, Michigan 48107. Synfuel Partners is a wholly
owned subsidiary of Synfuels and is a holding company for
numerous synthetic fuel manufacturing facilities.
(a) DTE Smith Branch, L.L.C. ("Smith Branch"), formerly named
CRC No. 5, L.L.C., is a Delaware company established
November 19, 1997, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Smith Branch is 95% owned by Synfuels and
5% owned by Synfuel Partners, and is engaged in synfuel
projects.
(b) DTE Clover, L.L.C. ("Clover"), formerly named CRC No. 6,
L.L.C., is a Delaware company established January 1, 1998,
with offices at 425 S. Main, Ann Arbor, Michigan 48107.
Clover is 95% owned by Synfuels and 5% owned by Synfuel
Partners, and is engaged in synfuel projects.
(c) DTE IndyCoke, L.L.C. ("IndyCoke"), formerly named CRC No.
1, L.L.C., is a Delaware company established November 19,
1997, with offices at 425 S. Main, Ann Arbor, Michigan
48107. IndyCoke is 95% owned by Synfuels and 5% owned by
Synfuel Partners, and is engaged in synfuel projects.
(d) DTE Belews Creek, L.L.C. ("Belews Creek"), formerly named
CRC No. 3, L.L.C., is a Delaware company established
December 23, 1997, with offices at 425 S. Main, Ann Arbor,
Michigan 48107. Belews Creek is 95% owned by Synfuels and
5% owned by Synfuel Partners, and is engaged in synfuel
projects.
(e) DTE Utah Synfuels, L.L.C. (" Utah Synfuels"), formerly
named DTE Kentucky, L.L.C. ("Kentucky") is a Delaware
company established December 23, 1999, with offices at 425
S. Main, Ann Arbor, Michigan 48107. Utah Synfuels is 95%
owned by Synfuels and 5% owned by Synfuel Partners, and is
engaged in synfuel projects.
(f) CRC No.2 L.L.C. ("CRC #2") is a Delaware company
established December 23, 1997, with offices at 425 S.
Main, Ann Arbor, Michigan 48107. CRC #2 is 95% owned by
Synfuels and 5% owned by Synfuel Partners, and is engaged
in synfuel projects.
(g) CRC No. 4 L.L.C ("CRC #4") is a Delaware company
established December 23, 1997, with offices at 425 S.
Main, Ann Arbor, Michigan 48107. CRC #4 is 95% owned by
Synfuels and 5% owned by Synfuel Partners, and is engaged
in synfuel projects.
(h) DTE Riverhill, L.L.C. ("Riverhill") is a Delaware company
established August 20, 1999, with offices at 425 S. Main,
Ann Arbor, Michigan 48107. Riverhill is 95% owned by DTE
Synfuels, L.L.C. and 5% by DTE Synfuel Partners, L.L.C.
and is engaged in Synfuel projects.
(3) DTE Smith Branch Operations, L.L.C. ("Smith Branch Operations")
is a Delaware company established August 29, 2001, with offices
at 425 S. Main, Ann Arbor, Michigan 48107. Smith Branch
Operations is a wholly owned subsidiary of Synfuels and is
engaged in the operation of synthetic fuel facilities.
(4) DTE Synfuel Operations, L.L.C. ("Synfuel Operations") is a
Delaware company established July 20, 2000, with offices at 425
S. Main, Ann Arbor, Michigan 48107. Synfuel Operations is a 95%
owned subsidiary of Synfuels and 5% owned by Synfuel Partners and
provides labor and management services to operate synthetic fuel
manufacturing facilities.
o. DTE Backup Generation Equipment Leasing, L.L.C. ("Backup Generation
Equipment Leasing") is a Delaware Company established November 3, 1999,
with offices at 425 S. Main, Ann Arbor, Michigan 48107. Backup
Generation Equipment Leasing is a wholly owned subsidiary of DTE ES,
and is engaged in the equipment leasing business.
p. Power Energy Partners, L.L.C. ("Power Energy Partners") is a Delaware
Company established May 21, 1999, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. Power Energy Partners is a wholly owned
subsidiary of DTE ES, and is a holding company.
(1) Crete Energy Venture, L.L.C. ("CEV") is a Delaware company
established December 12, 2000, with offices at 425 S. Main
Street, Ann Arbor, Michigan 48107. CEV is 50% owned by Power
Energy Partners, and is engaged in electricity generation.
(2) Crete Turbine Holdings, L.L.C. ("CTH") is a Delaware company
established December 15, 2000, with offices at 425 S. Main
Street, Ann Arbor, Michigan 48107. CTH is 50% owned by Power
Energy Partners, and is engaged in equipment sales.
(3) DTE Crete Operations, L.L.C. ("Crete Operations") is a Delaware
company established December 10, 2001 with offices at 425 S. Main
Street, Ann Arbor, Michigan 48107. Crete Operations is a wholly
owned subsidiary of DTE ES and operates and maintains electric
generating facilities.
q. Chicago Heights Energy Partners, L.L.C. ("Chicago Heights") is a
Delaware Company established June 26, 2000, with offices at 425 S.
Main, Ann Arbor, Michigan 48107. Chicago Heights is a wholly owned
subsidiary of DTE ES, and is engaged in development of projects
generating electricity. Chicago Heights was sold in February 2002.
5
r. DTE Moraine, L.L.C. ("Moraine") is a Delaware Company established
July 25, 2001, with offices at 425 S. Main, Ann Arbor, Michigan
48107. Moraine is a wholly owned subsidiary of DTE ES, and is
engaged in development and operation of a compressed air
facility.
s. DTE East China, L.L.C. ("East China"), formerly Woodward Energy,
L.L.C., is a Michigan Company established November 28, 2000,
with offices at 425 S. Main Street, Ann Arbor, Michigan 48107.
East China is a wholly owned subsidiary of DTE ES and is engaged
in electricity generation.
t. DTE East China Operations, L.L.C. ("East China Operations") is a
Delaware Company established December 18, 2001, with offices at
425 S. Main, Ann Arbor, Michigan 48107. East China is a wholly
owned subsidiary of DTE ES, and is engaged in the operation and
maintenance of an electric generation facility.
u. DTE Tonawanda, L.L.C. ("Tonawanda") is a Michigan Company
established on December 19, 2000, with offices at 425 S. Main,
Ann Arbor, Michigan 48107. Tonawanda is a wholly owned
subsidiary of DTE ES and is engaged in waste water treatment and
supply of chilled water.
6. 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.
a. 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.
(1) 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.
b. DTECS Holdings, Inc. ("DTECS Holdings") is a Michigan Corporation
established July 25, 2000, with offices at 425 S. Main, Ann
Arbor, Michigan 48107. DTECS Holdings is a wholly owned
subsidiary of DTE Coal and is engaged in the business of
administering coal contracts. DTECS Holdings owns a 1% general
partnership interest in DTECS Limited Partnership.
(1) DTECS Limited Partnership is a Michigan Company
established July 25, 2000, with offices at 425 S. Main,
Ann Arbor, Michigan 48107. DTECS Limited Partnership is a
99% owned subsidiary of DTE Coal, which holds a limited
partnership interest, and is engaged in the acquisition,
storage and reselling of coal. DTECS Holdings holds a
general partnership interest in DTECS Limited Partnership.
B. Syndeco Realty Corporation ("Syndeco") is a Michigan corporation
established on August 22, 1986. This corporation became a wholly owned
subsidiary of the Company on January 1, 1996. Syndeco has offices at 2000
2nd Avenue, Detroit, Michigan 48226-1279, and it is engaged in real estate
projects.
1 Syndeco Plaza L.L.C. ("Syndeco Plaza") is a Michigan company
established on December 15, 1999, with offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279. Syndeco Plaza is a wholly owned
subsidiary of Syndeco and is engaged real estate projects.
2. Ashley Mews L.L.C. ("Ashley") is a Michigan company established on
December 8, 1999, with offices at 2000 2nd Avenue, Detroit, Michigan
48226-1279. Ashley is a wholly owned subsidiary of Syndeco and is
engaged real estate projects.
C. The Detroit Edison Company ("Detroit Edison"), incorporated in Michigan and
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 the
Company. Detroit Edison's address is 2000 2nd Avenue, Detroit, Michigan
48226-1279.
1 Midwest Energy Resources Company ("MERC") is a Michigan corporation
established on June 5, 1974, with offices at 2000 2nd Avenue, Detroit,
Michigan 48226-1279. MERC is a wholly owned subsidiary of Detroit
Edison and is engaged in operating a coal-transshipment facility in
Superior, Wisconsin.
2. The Edison Illuminating Company of Detroit ("EIC") is a Michigan
corporation established on May 28, 1886, with offices at 2000 2nd
Avenue, Detroit, Michigan 48226-1279. EIC is a wholly owned subsidiary
of Detroit Edison and holds real estate.
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3. St. Clair Energy Corporation ("St. Clair") is a Michigan corporation
established on August 27, 1906, with offices at 2000 2nd Avenue,
Detroit, Michigan 48226-1279. St. Clair is a wholly owned subsidiary
of Detroit Edison and is engaged in fuel procurement.
4. The Detroit Edison Securitization Funding, L.L.C. ("Securitization
Funding") is a Michigan company established on November 20, 2000, with
offices at 2000 2nd Avenue, Detroit, Michigan 48226-1279.
Securitization Funding is a wholly owned subsidiary of Detroit Edison
and is a special purpose entity established to recover certain stranded
costs, called Securitization Property by Michigan Statute.
D. International Transmission Company ("ITC") is a Michigan corporation
established May 16, 2000, with offices at 2000 2nd Avenue, Detroit,
Michigan 48226-1279. ITC is a wholly owned subsidiary of the Company and is
engaged in owning transmission assets formerly owned by Detroit Edison.
E. 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 the Company
and is a holding company.
1. 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.
2. 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.
a. Alliance Energy Companies, Ltd. ("Alliance") is a Minnesota
corporation established April 27, 2001, with offices at 1715 Lake
Drive West, Chanhassen, Minnesota 55317-8580. Alliance is a
wholly owned subsidiary of Technologies and is the holding
company for the following entities:
(1) Alliance Energy Systems, Inc. ("Energy Systems") is a
Minnesota corporation established April 27, 2001, with
offices at 1715 Lake Drive West, Chanhassen, Minnesota
55317-8580. Energy Systems is a wholly owned subsidiary of
Alliance and is engaged in selling electric generators in
the U.S. market.
(2) Alliance Energy Services, Inc. ("Energy Services") is a
Minnesota corporation established April 27, 2001, with
offices at 1715 Lake Drive West, Chanhassen, Minnesota
55317-8580. Energy Services is a wholly owned subsidiary
of Alliance and is engaged in servicing electric
generators (primarily those sold by Energy Systems) in the
U.S. market.
(3) Alliance Energy Systems Canada, Ltd. ("Energy Systems") is
an Ontario, Canada corporation established April 27, 2001,
with offices at 275 Renfrew Drive, Markham, Ontario,
Canada L3R 0C8. Energy Systems is a wholly owned
subsidiary of Alliance and is engaged in selling electric
generators in the Canadian market.
3. 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. Catalog was merged into
Wolverine on March 16, 2001.
4. 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.
a. DTE Engineering Services, Inc., formerly UTS Systems, Inc., ("DTE
Engineering Services") is a Michigan corporation established
April 23, 1985. This corporation became a wholly owned subsidiary
of Solutions on January 27, 1999. DTE Engineering Services has
offices at 2000 2nd Avenue, Detroit, Michigan 48226-1279 and is
engaged in professional engineering services.
7
F. Edison Development Corporation ("EDC") is a Michigan corporation
established on May 24, 1994. This corporation became a wholly owned
subsidiary of the Company on January 1, 1996. EDC has offices at 2000 2nd
Avenue, Detroit, Michigan 48226-1279 and it is engaged in business
development.
1. DTE Solar Company of California ("Solar") is a Michigan corporation
established January 2, 2001, with offices at 2000 2nd Avenue, Detroit,
Michigan 48226-1279 Solar is a wholly owned subsidiary of EDC and is
engaged in solar photovoltaic leasing.
2. 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.
G. DTE Capital Corporation ("DTE Capital") is a Michigan corporation
established on September 6, 1995. This corporation became a wholly owned
subsidiary of the Company 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 The Company. DTE Capital's
operations were transferred to The Company and DTE Capital was dissolved in
April 2001.
H. DTE ENTERPRISES, INC.: Except where otherwise indicated, DTEE owns directly
or indirectly all of the outstanding common stock of MichCon Holdings,
Inc., Citizens Gas Fuel Company (Citizens), MCN Energy Enterprises Inc.
(MCNEE), various MCN financing companies and a 95% interest in Southern
Missouri Gas Company, L.P. Except where otherwise indicated, the companies
set forth below are Michigan corporations located at 2000 2nd Avenue,
Detroit, Michigan 48226.
1. MICHCON HOLDINGS, INC. is the holding company (formed in 1998) for
Michigan Consolidated Gas Company (MichCon) and MichCon Enterprises,
Inc. MichCon is a public utility engaged in the distribution and
transmission of natural gas in the state of Michigan. MichCon was
organized in 1898 and, with its predecessors, has been in business for
150 years. MichCon serves 1.2 million residential, commercial and
industrial customers in the Detroit, Grand Rapids, Ann Arbor, Traverse
City and Muskegon metropolitan areas as well as various other
communities throughout the state of Michigan. MichCon's principal
executive offices are located at 500 Griswold Street, Detroit, Michigan
48226. MichCon conducts substantially all of its business in the state
of Michigan and is subject to the jurisdiction of the Michigan Public
Service Commission (MPSC) as to various phases of its operations,
including gas sales rates, service, and accounting. MichCon
Enterprises, Inc. (a non-regulated affiliate) was formed in 1998 to
engage in non-regulated activities.
Except where otherwise indicated, the companies set forth below are
wholly owned subsidiaries of MichCon:
a. MichCon Development Corporation, through its various partnership
arrangements, owns an interest in Harbortown, a residential and
small commercial development constructed along the Detroit River
in Detroit, Michigan.
b. Blue Lake Holdings, Inc., holds a 25% interest in Blue Lake Gas
Storage Company, a partnership that has converted a depleted
natural gas field in northern Michigan into a 46 billion cubic
feet (Bcf) natural gas storage field which it now operates.
c. MichCon Pipeline Company, through the subsidiaries below, is
engaged in pipeline and gathering projects in Michigan:
(1) MichCon Gathering Company owns and operates the Antrim
Expansion Pipeline.
(2) Saginaw Bay Pipeline Company (SBPC) currently owns and
operates a 67-mile pipeline that transports natural gas
and natural gas liquids from reserves in east-central
Michigan to natural gas processing plants in northern
Michigan.
(3) Saginaw Bay Lateral Company is the sole general partner
and owns 46% of a partnership that owns and operates
lateral pipelines interconnecting with the 67-mile
pipeline previously described.
(4) Westside Pipeline Company owns 80.2% of the Jordan Valley
Partnership, a partnership that owns and operates two
pipeline systems.
(5) Thunder Bay Gathering Company owns and operates a pipeline
system, consisting of 44 miles of gathering lines situated
in Alpena and Alcona Counties in northeast Michigan.
8
(6) MichCon Lateral Company, which is currently inactive, was
originally formed in 1997 to own, operate and construct
natural gas pipelines.
d. Huron Pipeline Company, which is currently inactive, was
originally formed in 1996 to acquire a 50% ownership interest in
the ANR Link Interstate Pipeline, which transports natural gas to
Canada through a pipeline owned by Niagara Gas Transmission
Limited, a subsidiary of the Consumers Gas Co. Ltd.
(1) Huron Gas Services Company, which is currently inactive,
was originally formed in 1996 to market pipeline
transportation services.
e. Kalkaska Gas Storage Limited Partnership, of which MichCon owns
31%, holds a 53.5% general partnership interest in the Cold
Springs Gas Storage Limited Partnership which was dissolved in
2001.
The companies set forth below are wholly owned subsidiaries of MichCon
Enterprises, Inc.:
a. MichCon Fuel Services Company markets natural gas as a vehicular
fuel and markets energy to residential and commercial customers
through a transportation brokerage pilot program. MichCon Fuel
Services Company became inactive in 2001.
b. MichCon Home Services Company was formed in 1998 to engage in
heating, ventilation and air conditioning activities. In December
2000, MichCon Home Services Company changed its name to Flame
Furnace Company. Flame Furnace Company, which was sold in January
2001, is engaged in heating, ventilation and air conditioning
activities.
2. CITIZENS GAS FUEL COMPANY: Citizens is a public utility engaged in the
distribution of natural gas. Citizens was organized in 1951 and, with
its predecessors, has been in business for more than 140 years.
Citizens serves approximately 16,000 residential, commercial and
industrial customers in and around Adrian, Michigan. Citizens'
principal executive offices are located at 127 N. Main Street, Adrian,
Michigan 49221. Citizens conducts all of its business in the state of
Michigan and its rates are set by the Adrian Gas Rate Commission. Other
various phases of its operations are subject to the jurisdiction of the
MPSC.
3. SOUTHERN MISSOURI GAS COMPANY, L.P.: DTEE acquired an additional 47.5%
interest during 2001 and currently holds a 95% interest in Southern
Missouri Gas Company, L.P. (SMGC) which is a public utility engaged in
the distribution and transmission of natural gas. SMGC was organized in
1996, and with its predecessors has been in business since 1995. SMGC
serves approximately 7,500 residential, commercial, and industrial
customers in southern Missouri. The principal executive offices of SMGC
are located at 301 East 17th Street, Mountain Grove, Missouri 65711.
SMGC conducts all of its business in the state of Missouri. Its rates
and other various phases of its operations are subject to the
jurisdiction of the Missouri Public Service Commission.
4. MCN ENERGY ENTERPRISES INC.: Formerly MCN Investment Corporation, which
was organized in 1986, MCNEE is the holding company for DTEE's various
diversified energy subsidiaries. MCNEE, through its subsidiaries and
joint ventures, provides gathering, processing and transmission
services; engages in energy marketing activities and storage services;
engages in gas and oil exploration, development and production; and is
involved in other energy-related businesses. Except where otherwise
indicated, the companies set forth below are wholly owned subsidiaries
of MCNEE:
a. MCNIC Pipeline & Processing Company engages in pipeline and
processing projects through the following subsidiaries and
partnerships:
(1) MCNIC Offshore Pipeline & Processing Company holds a 33%
interest in the Blue Dolphin System and 100% of MCNIC
Black Marlin Offshore Company, which held a 33.3% interest
in the Black Marlin Pipeline System, which was sold in
January 2001.
(2) MCNIC Michigan Holdings, Inc.
(a) Bagley Processing Company (47% general partnership
interest)
(b) Warner Treating Company (90% interest)
(c) Terra-Westside Processing Company (85% interest)
9
(d) MCNIC Thunder Bay Processing Company, L.L.C. (90%
interest) owns two carbon dioxide (C02) processing plants.
(3) MCNIC East Coast Pipeline Company holds a 16.4% interest in the
292-mile Portland Pipeline Project.
(4) MCNIC Gulf Coast Gathering Corporation holds a 1% general
partnership interest in Copano Pipeline & Processing Group, L.P.
MCNIC Gulf Coast Gathering Corporation and Copano Pipeline &
Processing Group, L.P. were sold in November 2001.
(5) MCNIC Gulf Coast Limited, Inc. holds a 49% limited partnership
interest in Copano Pipeline & Processing Group, L.P., and a 90%
limited partnership interest in CFS/Upper Gulf Coast, L.P.,
Copano Pipelines/Upper Gulf Coast, L.P., and CES/Upper Gulf
Coast, L.P. MCNIC Gulf Coast Limited, Inc. and all the limited
partnerships it held were sold in November 2001.
(6) MCNIC Mobile Bay Gathering Company holds a 34.5% interest in
Dauphin Island Gathering Partners ("DIGP"). DIGP was sold in July
2001.
(7) MCNIC Mobile Bay Processing L.L.C. holds a 28.8% interest in
Mobile Bay Processing Partners which, in turn, operates a
processing facility. Mobile Bay Processing Partners was sold in
July 2001.
(8) MCNIC Mobile Bay NGL Pipeline, L.L.C. holds a 28.9% interest in
Gulf Coast NGL Pipeline L.L.C. which, in turn, holds a 16.6%
interest in Tri-States NGL Pipeline L.L.C. and a 16.6% interest
in Belle Rose NGL Pipeline, L.L.C. Gulf Coast NGL Pipeline L.L.C.
was sold in July 2001.
(9) MCNIC South Texas Gathering Company holds a 1% general
partnership interest in each of CFS/Copano Bay, L.P., CFS/South
Texas, L.P., CFS/Agua Dulce, L.P. and CFS/Upper Gulf Coast, L.P.
MCNIC South Texas Gathering Company and all the general
partnerships it held were sold in November 2001.
(10) MCNIC Upper Gulf Coast Pipeline & Processing Company holds a 1%
interest in Copano Pipeline/Upper Gulf Coast, L.P. MCNIC Upper
Gulf Coast Pipeline & Processing Company and Copano
Pipeline/Upper Gulf Coast, L.P. were sold in November 2001.
(11) MCNIC General Methanol Company holds a 1% general partnership
interest in Lyondell Petrochemical Methanol Co. L.P.
(12) MCNIC Methanol Holdings Company holds a 24% limited partnership
interest in Lyondell Petrochemical Methanol Co. L.P.
(13) American Central Western Oklahoma Gas Company, L.L.C. (40%
interest)
(14) Crown Asphalt Ridge, L.L.C. (75% interest)
(15) MCNIC East Texas Gathering Company holds a 39.9% limited
partnership interest in American Central Eastern Texas Gas
Company, L.P.
(16) MCNIC East Texas Pipeline & Processing Company holds a 0.1%
general partnership interest in American Central Eastern Texas
Gas Company, L.P.
(17) MCNIC Permian Basin Company holds a 0.99% general partnership
interest in PSC02, L.P. In December 2000, PetroSource Partners
which was 56.5% owned by PSC02 L.P. was sold.
(18) MCNIC Rodeo Gathering Inc. holds an 18.55% interest in Keyes
Helium Company, L.L.C.
(19) Crown Asphalt Distribution, L.L.C. (50% interest) was formed to
own and operate asphalt distribution and processing facilities.
(20) MCNIC Millennium Company was formed to hold a 10.5% interest in
the Millennium Pipeline Company, L.P.
(21) MCNIC L.L.C. Millennium Company, a Michigan corporation, was
formed to hold a 10.5% interest in the Millennium Pipeline
Management Company, L.L.C., which holds a 1% interest in the
Millennium Pipeline Company L.P.
(22) MCNIC Vector Company was formed to hold a 24.75% limited
partnership interest in Vector Pipeline, L.P., a Delaware Limited
Partnership, which owns and operates the Vector Pipeline.
(23) MCNIC Vector II Company was formed in January 2000 to hold a 25%
interest in Vector Pipeline Inc., which owns a 1% general
partnership interest in Vector Pipeline, L.P., a Delaware Limited
Partnership, which owns and operates the Vector Pipeline.
(24) MCNIC Vector Canada, Inc., a New Brunswick corporation, was
formed in 1998 to hold a 24.75% limited partnership interest in
Vector Pipeline L.P., an Alberta, Canada limited partnership,
which owns the Canadian portion of the Vector Pipeline.
(25) MCNIC Vector Canada II, Inc., a New Brunswick corporation, was
formed in 1999 to hold a 25% interest in Vector Pipeline Limited,
which owns a 1% general partnership interest in Vector Pipeline
L.P., an Alberta, Canada limited partnership, which owns the
Canadian portion of the Vector Pipeline.
(26) MCNIC Compression GP, Inc. was formed in March 1999 to hold the
.1% general partnership interest in the KCI Compression Company,
L.P. KCI Compression Company, L.P. was sold in July 2001.
(27) MCNIC Compression L.P., Inc. was formed in March 1999 to hold the
42.9% limited partnership interest in the KCI Compression
Company, L.P. KCI Compression Company, L.P. was sold in July
2001.
b. MCN Power Company pursues domestic power generation related
opportunities.
10
(1) South Norwalk Power Partners, L.L.C., is a Michigan limited
liability company formed to participate in power projects.
(2) Metro Energy, L.L.C., a Michigan limited liability company formed
in June 1999 to provide energy related services. MCN Power holds
a 50% interest in Metro Energy, L.L.C.
c. MCN International Corporation was formed in 1998 as a holding company
for MCN's international subsidiaries.
(1) MCNIC Nepal Limited of Grand Cayman, Cayman Island, owns 100% of
the Class B Capital Stock of Panda Bhote Koshi, which gives MCNIC
Nepal a 90% ownership interest in Panda Bhote Koshi, a Cayman
Island company that holds a 100% interest in Panda of Nepal.
Panda of Nepal holds a 75% interest in Bhote Koshi Power Company
Private Limited which owns a 36 MW hydroelectric power project in
Nepal.
(2) MCNIC UAE Limited of Grand Cayman, Cayman Island, was formed to
hold a 39% interest in an United Arab Emirate fertilizer plant
project. Subsequently, MCNIC UAE Limited converted its equity
interest into a loan.
d. CoEnergy Trading Company is engaged in the purchase and sale of natural
gas to large-volume gas users and gas and electric utilities. Except
where otherwise indicated, the companies set forth below are 50% owned
by CoEnergy Trading Company:
(1) U.S. CoEnergy Services, a Wisconsin general partnership formed to
market fuel oil, propane and natural gas primarily in the state
of Wisconsin.
(2) SEMCO Energy Services, Inc., was purchased in April 1999 to
engage in the marketing of natural gas. It is a wholly owned,
inactive subsidiary of CoEnergy Trading Company.
(3) CoEnergy Development Company is a wholly owned, inactive
subsidiary of CoEnergy Trading Company.
e. MCNIC Canadian Holdings Ltd., a New Brunswick corporation, was formed
to market and sell natural gas in Canada and the northeastern United
States.
f. CoEnergy Supply Company engages in the purchase and sale of natural
gas, a portion of which is produced by subsidiaries of MCN Oil & Gas
Company.
g. CoEnergy Sales Company was formed in 1998 to hold the membership
interest in DTE-CoEnergy, L.L.C., which has been dissolved.
h. MCNIC Gas Storage Company engages in the storage of natural gas.
(1) South Romeo Gas Storage Company, a Michigan partnership in which
MCNIC Gas Storage Company has a 50% interest, owns and operates
the Washington 28 Gas Storage Field, a 10 Bcf storage field in
southeastern Michigan that provides storage services to MCNEE's
Energy Marketing operations. South Romeo Gas Storage Company
holds a 50% interest in South Romeo Gas Storage Corporation.
(2) W-10 Holdings, Inc., holds a 50% interest in Washington 10
Storage Partnership, a partnership that developed and operates
the Washington 10 Storage Field, a 42 Bcf storage field in
southeastern Michigan.
(3) The Orchards Golf Limited Partnership, a Michigan partnership in
which MCNIC Gas Storage Company has a 50% interest, developed,
owns and operates a residential community and golf course on 520
acres of land above the South Romeo gas storage field in
southeastern Michigan.
i. MCN Oil & Gas Company (MOG) is engaged in natural gas and oil
exploration, development and production through the following
subsidiaries:
(1) Green Oak Development Company
(2) Otsego Exploration Company, L.L.C.
(3) MCNIC Enhanced Production, Inc., which has a 75% interest in
Otsego EOR, L.L.C.
11
(4) MCNIC Oil & Gas Midcontinent, Inc.
(5) MCNIC Oil & Gas Properties, Inc.
(6) Pageant Corporation
j. Bridgewater Holdings, Inc. (Bridgewater) was originally formed to hold
a 33% limited partnership interest in Bridgewater Place, a Grand
Rapids, Michigan office building. Currently, Bridgewater owns
undeveloped real property in western Michigan.
k. Combustion Concepts, Inc. holds patents for the development of
pressurized combustion technologies that provide increased fuel
efficiency, heat uniformity and compactness of equipment.
l. MCN Energy Holdings Inc. was formed in July 1999 to maximize the value
of existing ventures outside of MCN's target operating region. It
primarily consists of gas gathering and processing investments.
m. MCN Energy Marketing, Inc. was formed in July 1999 to engage in MCN's
unregulated sales activities to industrial, commercial and residential
customers, both inside and outside the Gas Distribution segment's
service area.
n. MCN Midstream & Supply, Inc. was formed in July 1999 to develop and
manage MCN's gas producing, gathering, processing, transmission and
storage assets within MCN's target operating region.
o. MCNEE Shelf Corporation was formed in December 2000 for future use as a
shell corporation.
5. MCN MICHIGAN LIMITED PARTNERSHIP (MCN Michigan): MCN is the 1% general
partner in MCN Michigan, a Michigan limited partnership. MCN Michigan
exists for the sole purpose of issuing its limited partnership interests in
the form of preferred securities and investing the gross proceeds thereof
in MCN debt securities. The preferred securities were redeemed in February
2002.
6. MCN FINANCING I: MCN is the sole owner of MCN Financing I, a Delaware
Business Trust. MCN Financing I exists for the sole purpose of issuing
preferred securities and investing the gross proceeds thereof in MCN debt
securities. The preferred securities were redeemed in February 2002.
7. MCN FINANCING II: MCN is the sole owner of MCN Financing II, a Delaware
Business Trust. MCN Financing II exists for the sole purpose of issuing
preferred securities and investing the gross proceeds thereof in MCN debt
securities.
8. MCN FINANCING III: MCN is the sole owner of MCN Financing III, a Delaware
Business Trust. MCN Financing III exists for the sole purpose of issuing
preferred securities and investing the gross proceeds thereof in MCN debt
securities.
12
II. PUBLIC UTILITY PROPERTIES
A. The Detroit Edison Company maintains the following generating facilities
which are located in the State of Michigan, as follows:
---------------------------------------------------------------------
LOCATION BY
MICHIGAN SUMMER NET YEAR
PLANT NAME COUNTY RATED CAPABILITY IN SERVICE
------------------------------- ------------ ---------------- -----------------------
(1) (2)
----------------
(MW)
Fossil-fueled Steam-Electric
Belle River (3) St. Clair 1,026 9.3% 1984 and 1985
Conners Creek Wayne 200 1.8 1999
Greenwood St. Clair 785 7.1 1979
Harbor Beach Huron 103 0.9 1968
Marysville St. Clair 167 1.5 1930, 1943 and 1947
Monroe (4) Monroe 3,000 27.1 1971, 1973 and 1974
River Rouge Wayne 510 4.6 1957 and 1958
St. Clair St. Clair 1,402 12.7 1953, 1954, 1961 and 1969
Trenton Channel Wayne 730 6.6 1949, 1950 and 1968
------- ------
7,923 71.6%
Oil or Gas-fueled Peaking
Units Various 1,102 10.0 1966-1971, 1981 and 1999
Nuclear-fueled Steam-Electric
Fermi 2 (5) Monroe 1,111 10.1 1988
Hydroelectric Pumped Storage
Ludington (6) Mason 917 8.3 1973
------- ------
11,053 100.0%
======= ======
(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 one oil-fueled unit, St. Clair Unit No. 5 (250 MW), in economy
reserve status.
(3) The Belle River capability represents Detroit Edison's entitlement to
81.39% of the capacity and energy of the plant.
(4) The Monroe Power Plant provided 36.62% of Detroit Edison's total 2001
power plant generation.
(5) Fermi 2 has a design electrical rating (net) of 1,150 MW.
(6) 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.
Detroit Edison and Consumers Energy interchange energy through nine
interconnections currently owned and operated by their respective
affiliates, International Transmission Company (ITC) and Michigan Electric
Transmission Company (METC). Detroit Edison and Consumers Energy also have
interchange agreements that permit the exchange of electric energy through
12 ITC and METC owned interconnections with First Energy, Indiana Michigan
Power Company, Northern Indiana Public Service Company and Ontario Hydro
Services Company. In addition, Detroit Edison has interchange agreements
for the exchange of electric energy with Michigan South Central Power
Agency and the City of Wyandotte.
13
Detroit Edison owns and operates within the State of Michigan 619
distribution substations with a capacity of 18,623,000 kilovolt amperes.
Electric distribution lines owned and in service as of December 31, 2001
are as follows:
OVERHEAD LINES UNDERGROUND LINES
--------------------- --------------------
CONDUIT
POLE CIRCUIT BANK CABLE
DESIGN LINE VOLTAGE - KV MILES MILES MILES MILES
-------------------------------- ---------- ---------- ---------- --------
Distribution -
Under 4.8 KV - 65 659
4.8 KV and 13.2 KV 32,973 459 15,163
24 KV 105 258 1,047
40 KV 2,846 91 338
120 KV 54 - 16
------- ---- -------
35,978 873 17,223
------- ---- -------
B. ITC owns and operates within the State of Michigan 446,903 line transformers
with a capacity of 21,742,832 kilovolt amperes. Electric transmission lines
owned and in service as of December 31, 2001 are as follows:
OVERHEAD LINES UNDERGROUND LINES
--------------------- --------------------
CONDUIT
POLE CIRCUIT BANK CABLE
DESIGN LINE VOLTAGE - KV MILES MILES MILES MILES
-------------------------------- ---------- ---------- ---------- --------
Transmission -
120 KV 1,110 1,625 - 166
140 KV 31 31 - -
230 KV 77 87 - -
345 KV 525 956 - 7
------- ------ ---- -------
1,743 2,699 173
------- ------ -------
C. MichCon owns the following integrated distribution, transmission, production
and storage properties and facilities, all of which properties are located
in the state of Michigan.
At December 31, 2001, MichCon's distribution system included 17,570
miles of distribution mains, 1,124,258 service lines and 1,220,623 active
meters. MichCon owns 2,590 miles of transmission and production lines that
deliver natural gas to the distribution districts and interconnect its
storage fields with the sources of supply and the market areas. MichCon's
compressor facilities related to transmission and production have a total
rated capacity of 28,500 horsepower and 1,403 horsepower, respectively.
Properties relating to five underground natural gas storage fields with an
aggregate working gas storage capacity of approximately 124 Bcf consist
principally of 383 gas storage wells (63 of which are observation wells),
191 miles of field lines, dehydration plants and compressor facilities with
a total rated capacity of 69,600 horsepower. MichCon also owns district
office buildings, service buildings and gas receiving and metering stations.
MichCon occupies an office building in Grand Rapids under a long-term lease.
Portions of these buildings are subleased to affiliates and others.
D. Citizens owns the following properties, all of which are located in
Michigan.
At December 31, 2001, Citizens' distribution system included 431 miles
of distribution mains, 16 miles of transmission lines, 14,973 service lines,
and 16,394 active meters. Citizens owns all of its properties used in the
conduct of the utility business including a two-story office building and a
one-story service center.
E. Southern Missouri Gas Company (SMGC) owns the following properties, all of
which are located in Missouri.
At December 31, 2001, SMGC's distribution system included 318 miles of
distribution mains, 9,603 service lines, and 7,565 active meters. SMGC owns
124 miles of transmission lines which deliver natural gas to the various
cities it serves and metering stations. SMGC leases its office/service
center.
14
III. PUBLIC UTILITY DISTRIBUTION AND PURCHASE OF NATURAL GAS
A. During the year ended December 31, 2001, Detroit Edison distributed and
purchased the following wattage of electricity:
1. 51,115,862,396 Kilowatt Hours (Kwh) was sold within the state of
Michigan.
2. No electricity was distributed at retail outside the state of Michigan.
3. The following Kwh of electricity was distributed at wholesale outside
the State:
KWH STATE REVENUES
------------------------ ----------------- --------------
397,163,000 Ontario, Canada $ 18,869,906
386,826,000 Ohio 361,602
38,025,000 Indiana 27,787,965
------------- --------------
822,014,000 $ 47,019,473
============= ==============
4. The following Kwh of electricity was purchased outside the State:
KWH STATE REVENUES
------------------------ ----------------- --------------
252,495,000 Ontario, Canada $ 18,574,975
725,291,000 Ohio 7,054,492
1,035,235,000 Indiana 39,596,929
--------------- ---------------
2,013,021,000 $ 65,226,396
=============== ===============
B. During the year ended December 31, 2001 MichCon distributed and purchased
the following volumes of natural gas:
1. 172,822,775 thousand cubic feet (Mcf) of natural gas was distributed at
retail within the state of Michigan and 149,167,458 Mcf of natural gas
was distributed at retail under transportation contracts within the
state of Michigan.
2. No volumes of natural gas were distributed at retail outside the state
of Michigan.
3. 3,745,390 Mcf of natural gas was distributed at wholesale in the state
of Kansas, which amounted to $14,596,196; 3,884,945 Mcf of natural gas
was distributed at wholesale in the state of Louisiana, which amounted
to $14,830,238.
4. 40,842,565 Mcf of natural gas was purchased from various suppliers in
the state of Louisiana, which amounted to $165,307,162; 35,647,474 Mcf
of natural gas was purchased from various suppliers in the state of
Kansas, which amounted to $86,168,084; and 27,861,493 Mcf of natural
gas was purchased from various suppliers in the state of Minnesota,
which amounted to $63,926,100. These volumes were transported by
interstate pipeline suppliers to points of delivery within the state of
Michigan.
C. During the year ended December 31, 2001 Citizens distributed and purchased
the following volumes of natural gas:
1. 3,013,000 Mcf of natural gas was distributed at retail within the state
of Michigan, and 181,000 Mcf of natural gas was distributed at retail
under transportation contracts within the state of Michigan.
2. No volumes of natural gas were distributed at retail outside the state
of Michigan.
3. No volumes of natural gas was distributed at wholesale outside the
state of Michigan.
4. No volumes of natural gas were purchased outside the state of Michigan.
15
D. During the year ended December 31, 2001 SMGC distributed and purchased the
following volumes of natural gas:
1. 774,000 Mcf of natural gas was distributed at retail within the state
of Missouri and 310,000 Mcf of natural gas was distributed at retail
under transportation contracts within the state of Missouri.
2. No volumes of natural gas were distributed at retail outside the state
of Missouri.
3. No volumes of natural gas were distributed at wholesale outside the
state of Missouri.
4. 776,000 Mcf of natural gas was purchased from suppliers outside the
state of Missouri. These volumes were transported by Williams Natural
Gas Company to a point of delivery within the state of Missouri.
IV. INTEREST IN EXEMPT WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
EXEMPT WHOLESALE GENERATORS
A. DTE River Rouge No. 1, L.L.C. ("DTE River Rouge")
1. DTE River Rouge is a single member Michigan limited liability
corporation established January 3, 2000, located at 1 Belanger Park, MI
48218 with offices at 2000 2nd Avenue, Detroit, Michigan 48226-1279.
DTE River Rouge is an exempt wholesale generator ("EWG") owning a
230-megawatt natural gas fired electric generating unit.
2. DTE Generation, Inc. ("DTE Generation") is the single member of DTE
River Rouge. As the single member, DTE Generation has obligations to
fund DTE River Rouge through capital contributions. As shown on Exhibit
B, DTE Energy Resources, Inc. (100% owned by DTE Energy) owns 100% of
DTE Generation's common stock and retained earnings in the amount of
$2,125,798.
3. The Company has issued guarantees in the amount of $3 million for the
benefit of DTE River Rouge.
4. Capitalization and earnings of DTE River Rouge were $2,124,798
5. DTE River Rouge has contracts with Detroit Edison with 2001 fees of
$2,647,955 for general operation, maintenance and refurbishment. DTE
River Rouge has contracts with the Company with 2001 fees of $2,086,005
related to cash management and lending agreements. DTE River Rouge has
contracts with DTE Energy Trading, Inc. with 2001 fees of $364,000 for
purchasing and marketing wholesale energy.
B. DTE Georgetown, LP ("DTE Georgetown")
1. DTE Georgetown is a Delaware limited partnership, that was formerly
DTE Georgetown, LLC, a Delaware limited liability company, established
September 8, 1999, with offices at 425 S. Main, Ann Arbor, Michigan
48107. DTE Georgetown is an exempt wholesale generator ("EWG") owning
a 180 megawatt natural gas fired electric generating unit.
2. DTE Georgetown Holdings, Inc. ("DTE Georgetown Holdings") owns a 1%
general partnership interest in DTE Georgetown and DTE Energy
Services, Inc. ("DTE ES") owns a 99% limited partnership interest in
DTE Georgetown. DTE Georgetown Holdings is wholly owned by DTE ES. DTE
ES is wholly owned by DTE Energy Resources, which is wholly owned by
DTE Energy, Inc. DTE Georgetown Holdings and DTE ES have made capital
contributions in amount of $83,982,277 to DTE Georgetown.
3. The Company has issued no guarantees for the benefit of DTE Georgetown.
4. Capitalization and earnings of DTE Georgetown for 2001 were
$5,390,348.
5. DTE Georgetown has a Management Services Agreement with DTE ES that
has no fees.
C. Metro Energy, LLC ("Metro Energy")
1. Metro Energy is a Delaware limited liability company established in
June 1999, with offices at 414 S. Main Street, Ann Arbor, Michigan
48104. Metro Energy is an exempt wholesale generator ("EWG") owning a
17 megawatt natural gas fired electric generating unit.
2. MCN Power owns a 50% interest in Metro Energy. MCN Power is a wholly
owned subsidiary of MCN Energy Enterprises Inc., which is a wholly
owned subsidiary of DTE Enterprises, Inc., which is a wholly subsidiary
of DTE Energy Company. MCN Power has made capital contributions in
amount of $6,843,136 to Metro Energy.
3. The Company has issued no guarantees for the benefit of Metro Energy.
4. Capitalization and earnings of Metro Energy for 2001 were $337,412.
5. Michigan Consolidated Gas has a natural gas transportation agreement
with Metro Energy.
FOREIGN UTILITY COMPANIES
D. BHOTE KOSHI POWER COMPANY PRIVATE LIMITED (BKPC)
1. BKPC is a 36 MW hydroelectric power project in the Sindhupalchok
District of Nepal, at KHA 1-960 Kalimati, Tahachal Kathmandu, Nepal.
2. Panda of Nepal owns 75% of the issued shares of Bhote Koshi Power
Company Private Limited. Panda Bhote Koshi, a Cayman Islands exempted
company, wholly owns Panda of Nepal. MCNIC Nepal Limited owns 100% of
the Class B Capital Stock of Panda Bhote Koshi (giving MCNIC Nepal a
90% ownership interest in Panda Bhote Koshi).
3. As of December 31, 2001, DTEE has an $21.0 million equity investment in
BKPC.
4. Capitalization and earnings information is unavailable.
5. There are no service, sales or construction contracts between BKPC and
DTEE or an affiliate of DTEE.
16
EXHIBITS
Exhibit A - Attached hereto as Exhibit A are the unaudited Consolidating
Statements of Operations for the year ended December 31, 2001 and
Consolidating Statements of Financial Position as of December 31,
2001, and Consolidating Statements of Retained Earnings for DTE
Energy Company, Detroit Edison, DTE Energy Resources, Inc., DTE
Energy Services, Inc., DTEE Energy Enterprises Inc., MichCon
Holdings, MichCon, MCNEE, Gas Services and MCNIC Pipeline &
Processing Company.
Exhibit B - Attached hereto as Exhibit B is an organizational chart showing
the relationship of each EWG and foreign utility company to
associate companies in the holding company system.
17
SIGNATURES
DTE Energy Company has caused this statement to be duly executed on its
behalf by its authorized officer on this 1st day of March, 2002.
DTE ENERGY Company
By: /s/ Daniel G. Brudzynski
Daniel G. Brudzynski
Chief Accounting Officer,
Vice President and Controller
CORPORATE SEAL:
Attest:
/s/ 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
2000 2nd Avenue
Detroit, Michigan 48226
18
EXHIBIT A
DTE Energy
Consolidating Statement of Operations
For The Year Ended December 31, 2001
(In Thousands)
==============================================================================================================
DTE INT'L DTE
ENERGY TRANS. ENERGY WOLVERINE
COMPANY DECO CO. RES. ENERGY
--------------------------------------------------------------
OPERATING REVENUES -- 4,043,853 63,664 2,653,341 20,540
--------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power -- 1,241,061 120 2,038,488 --
Gas -- -- -- -- --
Operation and maintenance (64,900) 1,267,804 22,446 602,478 34,794
Depreciation and amortization -- 631,345 12,481 46,399 964
Merger and restructuring charges -- -- -- -- --
Taxes Other Than Income 98 267,819 6,391 9,153 --
--------------------------------------------------------------
Total Operating Expenses (64,802) 3,408,029 41,438 2,696,518 35,759
--------------------------------------------------------------
OPERATING INCOME (LOSS) 64,802 635,824 22,226 (43,176) (15,219)
--------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 114,997 305,680 12 28,227 638
Preferred stock dividends of subsidiary -- -- -- -- --
Other - net (383,640) 9,791 (569) (17,056) (126)
--------------------------------------------------------------
Total Interest Expense and Other (268,643) 315,471 (557) 11,171 512
--------------------------------------------------------------
INCOME BEFORE INCOME TAXES 333,445 320,353 22,783 (54,348) (15,730)
INCOME TAX PROVISION (BENEFIT) (2,648) 84,383 7,974 (183,379) (5,553)
--------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 336,093 235,970 14,809 129,031 (10,177)
--------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE -- 2,625 -- -- --
--------------------------------------------------------------
NET INCOME 336,093 233,344 14,809 129,031 (10,177)
==============================================================
==============================================================================================================
===========================================================================================================================
SYNDECO DTE ELIMS. DTE
EDISON REALTY ENERGY & ENERGY
DEV. CORP. ENT. RECLASS. CONSOL.
----------------------------------------------------------------
OPERATING REVENUES 64 10,880 1,128,824 (72,539) 7,848,628
----------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power -- -- -- (17,700) 3,261,969
Gas -- -- 690,411 (2,001) 688,409
Operation and maintenance 1,050 5,116 279,266 (320,272) 1,827,783
Depreciation and amortization 29 -- 103,652 -- 794,870
Merger and restructuring charges -- -- -- 268,234 268,234
Taxes Other Than Income -- (43) 28,460 -- 311,879
----------------------------------------------------------------
Total Operating Expenses 1,078 5,074 1,101,789 (71,739) 7,153,144
----------------------------------------------------------------
OPERATING INCOME (LOSS) (1,015) 5,806 27,035 (800) 695,484
----------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense -- 292 56,386 (38,316) 467,917
Preferred stock dividends of subsidiary -- -- 14,758 -- 14,758
Other - net 18,914 (506) (8,520) 375,844 (5,869)
----------------------------------------------------------------
Total Interest Expense and Other 18,914 (214) 62,623 337,528 476,805
----------------------------------------------------------------
INCOME BEFORE INCOME TAXES (19,929) 6,020 (35,588) (338,327) 218,679
INCOME TAX PROVISION (BENEFIT) (7,401) 2,107 (5,509) -- (110,026)
----------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE (12,527) 3,913 (30,079) (338,327) 328,705
----------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE -- -- (40) (6,206) (3,620)
----------------------------------------------------------------
NET INCOME (12,527) 3,913 (30,039) (332,122) 332,325
================================================================
===========================================================================================================================
DTE Energy
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
=================================================================================================================================
DTE INT'L DTE
ENERGY TRANS. ENERGY WOLV. EDISON
CO. DECO CO. RES. ENERGY DEV.
-------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 7,950 175,995 8 32,962 (978) --
Restricted cash -- 67,839 -- 89,617 -- --
Accounts receivable
Customer (less allowance for doubtful accounts) 34 342,513 2,434 236,481 6,510 2,141
Accrued unbilled revenues -- 130,419 -- -- -- --
Other 357,596 301,013 62,193 21,325 14,235 --
Inventories
Fuel and gas -- 163,859 -- 37,241 -- --
Materials and supplies -- 126,934 5,188 3,622 5,552 --
Assets from risk management activities -- 709 -- 269,938 -- --
Other -- 17,692 -- 18,346 174 --
-------------------------------------------------------------------------
365,580 1,326,973 69,823 709,533 25,493 2,141
-------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds -- 416,455 -- -- -- --
Other 6,390,146 108,384 9,686 232,044 20,727 71,646
-------------------------------------------------------------------------
6,390,146 524,839 9,686 232,044 20,727 71,646
-------------------------------------------------------------------------
PROPERTY
Property, plant and equipment -- 11,361,020 801,524 1,052,691 6,709 649
Property under capital leases -- 218,958 -- 4,904 -- --
-------------------------------------------------------------------------
-- 11,579,978 801,524 1,057,594 6,709 649
-------------------------------------------------------------------------
Less: accumulated depreciation and amortization -- 5,015,565 407,471 169,780 2,441 29
-------------------------------------------------------------------------
-- 6,564,413 394,053 887,814 4,267 620
-------------------------------------------------------------------------
Goodwill -- -- -- 23,494 11,554 --
-------------------------------------------------------------------------
Regulatory Assets -- 2,830,526 3,005 -- -- --
-------------------------------------------------------------------------
OTHER ASSETS
Asset from risk management activities -- -- -- 10,403 -- --
Other 11,036 97,680 (4) 5,552 3,976 --
-------------------------------------------------------------------------
11,036 97,680 (4) 15,954 3,976 --
-------------------------------------------------------------------------
6,766,762 11,344,432 476,563 1,868,839 66,017 74,408
=========================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 265,553 502,900 10,765 253,662 3,052 5,514
Accrued interest 10,502 84,919 1 6 -- --
Dividends payable 83,079 73,858 -- -- -- --
Accrued payroll -- 89,446 -- 7,246 1,809 --
Short-term borrowings 425,336 -- 4,339 247,104 28,669 --
Income taxes (1,363 121,150 2,773 556 (21) (5)
General Taxes -- 26,593 605 273 -- --
Current portion long-term debt -- 201,658 -- 89,701 -- --
Current portion capital leases -- 13,236 -- -- -- --
Liability from risk management activities -- 35,675 -- 255,408 -- --
Other 1,337 273,092 -- 32,525 3,885 43
-------------------------------------------------------------------------
784,443 1,422,527 18,483 886,480 37,395 5,551
-------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes (208,431 1,748,879 58,792 96,385 3,215 2,672
Capital leases -- 81,635 -- -- -- --
Regulatory liabilities -- 42,613 -- -- -- --
Unamortized Investment tax credit -- 156,129 -- -- -- --
Liabilities from risk management activities -- 2,187 -- 9,124 -- --
Other (70,221) 721,785 57,458 97,426 136 --
-------------------------------------------------------------------------
(278,652) 2,753,228 116,250 202,935 3,351 2,672
-------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES 1,747,363 4,710,659 -- 106,522 -- --
-------------------------------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES -- -- -- -- -- --
-------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 2,684,656 1,805,535 327,021 347,522 60,139 63,750
Retained earnings and other comprehensive income 1,828,953 652,482 14,809 325,380 (34,867) 2,435
-------------------------------------------------------------------------
4,513,608 2,458,017 341,830 672,902 25,272 66,185
-------------------------------------------------------------------------
6,766,762 11,344,432 476,563 1,868,839 66,017 74,408
=========================================================================
-----------------------------------------------------
SYNDECO DTE ELIMS DTE
REALTY ENERGY & ENERGY
CORP ENT. RECLASS. CONSOL.
-----------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 3,793 8,793 39,254 267,777
Restricted cash -- -- -- 157,457
Accounts receivable
Customer (less allowance for doubtful accounts) 14,966 245,538 -- 850,617
Accrued unbilled revenues -- 111,888 -- 242,307
Other 6 183,726 (681,055) 259,039
Inventories
Fuel and gas -- 143,150 (1,427) 342,824
Materials and supplies -- 20,592 -- 161,888
Assets from risk management activities -- 132,650 (3,577) 399,721
Other 38 60,630 47,398 144,279
-----------------------------------------------------
18,804 906,968 (599,406) 2,825,909
-----------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds -- -- -- 416,455
Other 23 362,384 (6,579,572) 615,468
-----------------------------------------------------
23 362,384 (6,579,572) 1,031,923
-----------------------------------------------------
PROPERTY
Property, plant and equipment 41,796 3,579,088 (11,415) 16,832,061
Property under capital leases -- 11,501 -- 235,363
-----------------------------------------------------
41,796 3,590,589 (11,415) 17,067,424
-----------------------------------------------------
Less: accumulated depreciation and amortization 568 1,934,358 (5,804) 7,524,408
-----------------------------------------------------
41,228 1,656,232 (5,611) 9,543,016
-----------------------------------------------------
Goodwill -- 1,967,567 -- 2,002,615
-----------------------------------------------------
Regulatory Assets -- 62,020 -- 2,895,552
-----------------------------------------------------
OTHER ASSETS
Asset from risk management activities -- 139,111 -- 149,514
Other -- 682,002 (20,918) 779,324
-----------------------------------------------------
-- 821,113 (20,918) 928,838
-----------------------------------------------------
60,055 5,776,284 (7,205,507) 19,227,853
=====================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 7,536 364,712 (716,558) 697,136
Accrued interest 24 22,168 (24) 117,596
Dividends payable -- 1,102 (73,858) 84,181
Accrued payroll -- 9,020 -- 107,520
Short-term borrowings 6,848 666,547 (697,382) 681,461
Income taxes (41 (209,512) 140,755 54,293
General Taxes -- 54,177 -- 81,648
Current portion long-term debt -- 210,714 -- 502,073
Current portion capital leases -- 520 -- 13,755
Liability from risk management activities -- 133,421 -- 424,504
Other 19,758 100,483 (17,631) 413,492
-----------------------------------------------------
34,125 1,353,352 (1,364,699) 3,177,657
-----------------------------------------------------
OTHER LIABILITIES
Deferred income taxes 22 (181,031) (42,477) 1,478,025
Capital leases -- 2,083 (83,717) --
Regulatory liabilities -- 190,189 (46,017) 186,785
Unamortized Investment tax credit -- 24,319 -- 180,448
Liabilities from risk management activities -- 301,618 -- 312,929
Other 108 558,645 9,880 1,375,218
-----------------------------------------------------
130 895,823 (162,331) 3,533,405
-----------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES -- 999,998 89,521 7,654,063
-----------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES -- 273,672 -- 273,672
-----------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 15,613 2,533,851 (5,027,220) 2,810,867
Retained earnings and other comprehensive income 10,186 (280,412) (740,777) 1,778,188
-----------------------------------------------------
25,799 2,253,439 (5,767,998) 4,589,055
-----------------------------------------------------
60,055 5,776,284 (7,205,507) 19,227,853
=====================================================
=================================================================================================================================
DTE Energy
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
============================================================================================================================
DTE INT'L DTE WOLV. EDISON
ENERGY TRANS. ENERGY ENERGY DEV.
CO. DECO CO. RES. CONSOL. CONSOL.
------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 2,123,437 1,771,129 -- 197,145 (24,611) 5,469
Net income (loss) 336,093 233,344 14,809 129,031 (10,177) (12,528)
Dividends on common stock (324,215) (627,363) -- -- -- --
Repurchase and retirement of common stock (269,357) (700,405) -- -- -- --
Other (37,005) (24,223) -- (796) (79) 9,494
------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 1,828,953 652,482 14,809 325,380 (34,867) 2,435
========================================================================
============================================================================================================================
====================================================================================================
SYNDECO DTE ELIMS DTE
REALTY ENERGY & ENERGY
CORP ENT. RECLASS. CONSOL.
------------------------------------------------
Retained earnings (deficit) at December 31, 2000 6,273 (100,856) (1,881,195) 2,096,791
Net income (loss) 3,913 (30,039) (332,121) 332,325
Dividends on common stock -- -- -- (951,578)
Repurchase and retirement of common stock -- -- -- (969,762)
Other -- (149,517) 1,472,539 1,270,413
------------------------------------------------
Retained earnings (deficit) at December 31, 2001 10,186 (280,412) (740,777) 1,778,189
================================================
====================================================================================================
DTE Energy
Detroit Edison
Consolidating Statement of Operations
For The Year Ended December 31, 2001
(In Thousands)
===========================================================================================================================
EDISON ELIMS.
ILLUM. ST. & DECO
DECO CO. MERC CLAIR. SECURIT. ECLASS. CONSOL.
-----------------------------------------------------------------------------
OPERATING REVENUES 3,874,619 -- 26,251 -- 143,921 (938) 4,043,853
-----------------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power 1,222,901 -- 18,160 -- -- -- 1,241,061
Gas -- -- - -- -- -- --
Operation and maintenance 1,265,445 -- 2,296 -- 1,001 (938) 1,267,804
Depreciation and amortization 573,205 -- 1,807 -- 56,333 -- 631,345
Taxes Other Than Income 266,823 45 951 -- -- -- 267,819
-----------------------------------------------------------------------------
Total Operating Expenses 3,328,374 45 23,214 -- 57,334 (938) 3,408,029
-----------------------------------------------------------------------------
OPERATING INCOME (LOSS) 546,246 (45) 3,036 -- 86,586 -- 635,824
-----------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 215,614 -- 2,655 -- 87,411 -- 305,680
Preferred stock dividends of subsidiary -- -- -- -- -- -- --
Other - net 10,767 (2) (106) -- (824) (43) 9,791
-----------------------------------------------------------------------------
Total Interest Expense and Other 226,381 (2) 2,549 -- 86,586 (43) 315,471
-----------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES 319,865 (43) 487 -- -- 43 320,353
INCOME TAX PROVISION (BENEFIT) 83,896 -- 487 -- -- -- 84,383
-----------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 235,970 (43) -- -- -- 43 235,970
-----------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE 2,625 -- -- -- -- -- 2,625
-----------------------------------------------------------------------------
NET INCOME 233,344 (43) -- -- -- 43 233,344
=============================================================================
===========================================================================================================================
DTE Energy
Detroit Edison
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
===================================================================================================================================
EDISON ELIMS
ILLUM. ST. & DECO
DECO CO. MERC CLAIR. SECURIT RECLASS. CONSOL.
-------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 171,061 -- 2,062 -- 2,872 -- 175,995
Restricted cash -- -- -- -- 67,839 -- 67,839
Accounts receivable
Customer (less allowance for doubtful accounts) 320,314 -- -- -- 22,198 -- 342,513
Accrued unbilled revenues 123,371 -- -- -- 7,047 -- 130,419
Other 298,826 10 2,436 -- 208 (466) 301,013
Inventories
Fuel and gas 163,859 -- -- -- -- -- 163,859
Materials and supplies 123,769 -- 3,166 -- -- -- 126,934
Assets from risk management activities 709 -- -- -- -- -- 709
Other 17,622 -- 71 -- -- -- 17,692
-------------------------------------------------------------------------------
1,219,530 10 7,735 -- 100,165 (466) 1,326,973
-------------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds 416,455 -- -- -- -- -- 416,455
Other 101,526 169 15,643 9 -- (8,965) 108,384
-------------------------------------------------------------------------------
517,982 169 15,643 9 -- (8,965) 524,839
-------------------------------------------------------------------------------
PROPERTY
Property, plant and equipment 11,299,235 228 61,557 -- -- -- 11,361,020
Property under capital leases 218,958 -- -- -- -- -- 218,958
-------------------------------------------------------------------------------
11,518,193 228 61,557 -- -- -- 11,579,978
-------------------------------------------------------------------------------
Less: accumulated depreciation and amortization 4,983,109 -- 32,457 -- -- -- 5,015,565
-------------------------------------------------------------------------------
6,535,085 228 29,101 -- -- -- 6,564,413
-------------------------------------------------------------------------------
Goodwill -- -- -- -- -- -- --
-------------------------------------------------------------------------------
Regulatory Assets 1,138,399 -- (209) -- 1,692,335 -- 2,830,526
-------------------------------------------------------------------------------
OTHER ASSETS
Asset from risk management activities -- -- -- -- -- -- --
Other 66,820 -- 1,153 -- 29,803 (96) 97,680
-------------------------------------------------------------------------------
66,820 -- 1,153 -- 29,803 (96) 97,680
-------------------------------------------------------------------------------
9,477,816 407 53,423 9 1,822,303 (9,527) 11,344,432
================================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 498,107 -- 1,994 -- 3,184 (385) 502,900
Accrued interest 48,158 -- 1,081 -- 35,681 -- 84,919
Dividends payable 73,858 -- -- -- -- -- 73,858
Accrued payroll 89,446 -- -- -- -- -- 89,446
Short-term borrowings -- -- -- -- -- -- --
Income taxes 121,150 -- -- -- -- -- 121,150
General Taxes 25,544 102 948 -- -- -- 26,593
Current portion long-term debt 129,137 -- -- -- 72,521 -- 201,658
Current portion capital leases 13,236 -- -- -- -- -- 13,236
Liability from risk management activities 35,675 -- -- -- -- -- 35,675
Other 242,075 -- 2,585 -- 28,432 -- 273,092
-------------------------------------------------------------------------------
1,276,384 102 6,608 -- 139,818 (385) 1,422,527
-------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes 1,740,894 -- 7,985 -- -- -- 1,748,879
Capital leases 81,635 -- -- -- -- -- 81,635
Regulatory liabilities 42,613 -- -- -- -- -- 42,613
Unamortized Investment tax credit 156,129 -- -- -- -- -- 156,129
Liabilities from risk management activities 2,187 -- -- -- -- -- 2,187
Other 720,117 4 1,228 -- 521 (85) 721,785
-------------------------------------------------------------------------------
2,743,575 4 9,214 -- 521 (85) 2,753,228
-------------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES 2,999,846 -- 37,600 -- 1,673,214 -- 4,710,659
-------------------------------------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES -- -- -- -- -- -- --
-------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 1,805,535 50 1 10 8,750 (8,811) 1,805,535
Retained earnings and other comprehensive income 652,477 251 1 (1) -- (246) 652,482
-------------------------------------------------------------------------------
2,458,012 301 2 9 8,750 (9,057) 2,458,017
-------------------------------------------------------------------------------
9,477,816 407 53,423 9 1,822,303 (9,527) 11,344,432
===============================================================================
===================================================================================================================================
DTE Energy
Detroit Edison
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
==============================================================================================================================
EDISON ELIMS
ILLUM. ST. & DECO
DECO CO. MERC CLAIR. SECURIT. RECLASS. CONSOL.
--------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 1,771,123 1 (1) 295 -- (289) 1,771,129
Net income (loss) 233,344 (43) -- -- -- 43 233,344
Dividends on common stock (627,363) -- -- -- -- -- (627,363)
Repurchase and retirement of common stock (700,405) -- -- -- -- -- (700,405)
Other (24,223) 293 2 (296) -- 1 (24,223)
--------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 652,476 251 1 (1) -- (245) 652,482
==========================================================================
==============================================================================================================================
DTE Energy
Energy Resources
Consolidating Statement of Operations
For The Year Ended December 31, 2001
(In Thousands)
=====================================================================================================================
DTE DTE DTE DTE DTE
ENERGY BIOMASS COAL ENERGY ENERGY
RESOURCES ENERGY SERVICES SERVICES MARKETING
-----------------------------------------------------------------------
OPERATING REVENUES 576,702 7,226 325,584 442,050 28,785
-----------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power -- 41 276,769 116,330 25,883
Gas -- -- -- -- --
Operation and maintenance 578,201 11,100 23,720 278,157 5,978
Depreciation and amortization 42,162 4,888 421 81,566 414
Taxes Other Than Income 7,047 415 1,133 5,348 800
-----------------------------------------------------------------------
Total Operating Expenses 627,410 16,444 302,043 481,401 33,075
-----------------------------------------------------------------------
OPERATING INCOME (LOSS) (50,708) (9,218) 23,541 (39,351) (4,290)
-----------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 23,274 374 813 21,677 501
Preferred stock dividends of subsidiary -- -- -- -- --
Other-- net (16,469) (260) 546 (2,995) --
-----------------------------------------------------------------------
Total Interest Expense and Other 6,805 114 1,359 18,682 501
-----------------------------------------------------------------------
INCOME BEFORE INCOME TAXES (57,513) (9,332) 22,182 (58,033) (4,791)
INCOME TAX PROVISION (BENEFIT) (186,441) (15,429) 7,783 (172,848) (1,607)
-----------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 128,928 6,097 14,399 114,815 (3,184)
-----------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE -- -- -- -- --
-----------------------------------------------------------------------
NET INCOME 128,928 6,097 14,399 114,815 (3,184)
=======================================================================
=====================================================================================================================
======================================================================================================
DTE DTE ELIMS. ENERGY
ENERGY GENER. & RESOURCES
TRADING CONSOL. RECLASS. CONSOL.
--------------------------------------------------------
OPERATING REVENUES 2,071,299 13,026 (811,331) 2,653,341
--------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power 2,046,108 763 (427,406) 2,038,488
Gas -- 672 (672) -
Operation and maintenance 16,272 3,489 (314,439) 602,478
Depreciation and amortization 547 3,276 (86,875) 46,399
Taxes Other Than Income 70 1,236 (6,896) 9,153
--------------------------------------------------------
Total Operating Expenses 2,062,997 9,436 (836,288) 2,696,518
--------------------------------------------------------
OPERATING INCOME (LOSS) 8,302 3,590 24,957 (43,177)
--------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 926 3,551 (22,889) 28,227
Preferred stock dividends of subsidiary -- -- -- -
Other-- net (5,505) -- 7,627 (17,056)
--------------------------------------------------------
Total Interest Expense and Other (4,579) 3,551 (15,262) 11,171
--------------------------------------------------------
INCOME BEFORE INCOME TAXES 12,881 39 40,219 (54,348)
INCOME TAX PROVISION (BENEFIT) 4,655 14 180,494 (183,379)
--------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 8,226 25 (140,275) 129,031
--------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE -- -- -- -
--------------------------------------------------------
NET INCOME 8,226 25 (140,275) 129,031
========================================================
======================================================================================================
DTE Energy
Energy Resources
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
========================================================================================================================
DTE DTE DTE DTE DTE
ENERGY BIOMASS COAL ENERGY ENERGY
RESOURCES ENERGY SERVICES SERVICES MARKETING
---------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 34,610 6,405 8,633 116,985 --
Restricted cash 89,617 -- -- -- --
Accounts receivable
Customer (less allowance for doubtful accounts) 76,367 1,698 14,297 60,372 (1)
Accrued unbilled revenues -- -- -- -- --
Other 214 134 -- 81 5,396
Inventories
Fuel and gas 33,569 -- -- -- --
Materials and supplies 2,636 -- 27,847 8,358 --
Asset from risk management activities 7,778 -- -- -- --
Other 16,437 2,022 2,308 12,084 1,080
---------------------------------------------------------------
261,228 10,259 53,085 197,880 6,475
---------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds -- -- -- -- --
Other 243,092 11,295 30,445 172,083 81
---------------------------------------------------------------
243,092 11,295 30,445 172,083 81
---------------------------------------------------------------
PROPERTY
Property, plant and equipment 982,052 51,096 5,331 921,892 383
Property under capital leases -- -- -- -- --
---------------------------------------------------------------
982,052 51,096 5,331 921,892 383
---------------------------------------------------------------
Less: accumulated depreciation and amortization 163,805 17,242 1,194 142,886 182
---------------------------------------------------------------
818,247 33,854 4,137 779,006 201
---------------------------------------------------------------
Goodwill 23,494 -- -- -- --
---------------------------------------------------------------
Regulatory Assets -- -- -- -- --
---------------------------------------------------------------
OTHER ASSETS
Asset from risk management activities -- -- -- -- --
Other 5,636 2,715 4,415 22,444 (25)
---------------------------------------------------------------
5,636 2,715 4,415 22,444 (25)
---------------------------------------------------------------
1,351,697 58,123 92,082 1,171,413 6,732
===============================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 84,780 930 36,277 29,853 565
Accrued interest -- -- -- -- --
Dividends payable -- -- -- -- --
Accrued payroll 3,084 256 492 8,409 --
Short-term borrowings 187,448 -- -- -- --
Income taxes (3,092) -- -- -- (197)
General Taxes -- -- -- -- --
Current portion long-term debt 76,529 284 -- 89,417 --
Current portion capital leases -- -- -- -- --
Liability from risk management activities 2,182 -- -- -- --
Other 22,765 1,921 703 13,577 886
---------------------------------------------------------------
373,696 3,391 37,472 141,256 1,254
---------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes 95,886 7,209 2,521 86,484 22
Capital leases -- -- -- -- --
Regulatory liabilities -- -- -- -- --
Unamortized Investment tax credit -- -- -- -- --
Liabilities from risk management activities 1,276 -- -- -- --
Other 88,307 303 18,844 279,245 168
---------------------------------------------------------------
185,469 7,512 21,365 365,729 190
---------------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES 119,694 1,670 -- 106,128 --
---------------------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES -- -- -- -- --
---------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 347,522 23,010 5,500 226,300 32,371
Retained earnings and other comprehensive income 325,316 22,540 27,745 332,000 (27,083)
---------------------------------------------------------------
672,838 45,550 33,245 558,300 5,288
---------------------------------------------------------------
1,351,697 58,123 92,082 1,171,413 6,732
===============================================================
========================================================================================================================
================================================================================================================
DTE DTE ELIMS ENERGY
ENERGY GENER. & RESOURCES
TRADING CONSOL. RECLASS. CONSOL.
-------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 1 (1,649) (132,023) 32,962
Restricted cash -- -- -- 89,617
Accounts receivable
Customer (less allowance for doubtful accounts) 160,115 -- (76,367) 236,481
Accrued unbilled revenues -- -- -- --
Other 13,904 1,975 (379) 21,325
Inventories
Fuel and gas 3,672 -- -- 37,241
Materials and supplies -- 986 (36,205) 3,622
Asset from risk management activities 262,241 -- (81) 269,938
Other 369 462 (16,417) 18,345
-------------------------------------------------------
440,302 1,774 (261,472) 709,531
-------------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds -- -- -- --
Other 33,237 11 (258,200) 232,044
-------------------------------------------------------
33,237 11 (258,200) 232,044
-------------------------------------------------------
PROPERTY
Property, plant and equipment 4,212 66,043 (978,318) 1,052,691
Property under capital leases 4,904 -- -- 4,904
-------------------------------------------------------
9,116 66,043 (978,318) 1,057,595
-------------------------------------------------------
Less: accumulated depreciation and amortization 1,022 4,771 (161,322) 169,780
-------------------------------------------------------
8,094 61,272 (816,996) 887,815
-------------------------------------------------------
Goodwill -- -- -- 23,494
-------------------------------------------------------
Regulatory Assets -- -- -- --
-------------------------------------------------------
OTHER ASSETS
Asset from risk management activities 10,403 -- -- 10,403
Other -- -- (29,633) 5,552
-------------------------------------------------------
10,403 -- (29,633) 15,955
-------------------------------------------------------
492,036 63,057 (1,366,301) 1,868,839
=======================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 170,363 636 (69,742) 253,662
Accrued interest 6 -- -- 6
Dividends payable -- -- -- --
Accrued payroll 4,162 -- (9,157) 7,246
Short-term borrowings 345 59,312 (1) 247,104
Income taxes 4,001 (156) -- 556
General Taxes 123 150 -- 273
Current portion long-term debt -- -- (76,529) 89,701
Current portion capital leases -- -- -- --
Liability from risk management activities 253,226 -- -- 255,408
Other 9,799 527 (17,653) 32,525
-------------------------------------------------------
442,025 60,469 (173,082) 886,480
-------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes (364) 841 (96,214) 96,385
Capital leases -- -- -- --
Regulatory liabilities -- -- -- --
Unamortized Investment tax credit -- -- -- --
Liabilities from risk management activities 7,848 -- -- 9,124
Other 9,481 -- (298,923) 97,425
-------------------------------------------------------
16,965 841 (395,137) 202,934
-------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES -- -- (120,970) 106,522
-------------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES -- -- -- --
-------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 15,040 1 (302,222) 347,522
Retained earnings and other comprehensive income 18,006 1,746 (374,890) 325,380
-------------------------------------------------------
33,046 1,747 (677,112) 672,902
-------------------------------------------------------
492,036 63,057 (1,366,301) 1,868,839
=======================================================
================================================================================================================
DTE Energy
Energy Resources
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
===============================================================================================================
DTE DTE DTE DTE DTE
ENERGY BIOMASS COAL ENERGY ENERGY
RESOURCES ENERGY SERVICES SERVICES MARKETING
--------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 (35,695) 16,443 13,346 218,014 (23,898)
Net income (loss) 128,927 6,097 14,399 114,815 (3,184)
Dividends on common stock -- -- -- -- --
Repurchase and retirement of common stock -- -- -- -- --
Other 232,084 -- -- (829) (1)
-------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 325,316 22,540 27,745 332,000 (27,083)
=======================================================
==============================================================================================================
===========================================================================================================
DTE DTE ELIMS ENERGY
ENERGY GENER. & RESOURCES
TRADING CONSOL. RECLASS. CONSOL.
----------------------------------------------------
Retained earnings (deficit) at December 31, 2000 9,781 1,720 (2,566) 197,145
Net income (loss) 8,225 26 (140,274) 129,031
Dividends on common stock -- -- -- -
Repurchase and retirement of common stock -- -- -- -
Other -- -- (232,050) (796)
----------------------------------------------------
Retained earnings (deficit) at December 31, 2001 18,006 1,746 (374,890) 325,380
====================================================
===========================================================================================================
DTE Energy
Energy Services
Consolidating Statement of Operations
For The Year Ended December 31, 2001
(In Thousands)
===============================================================================================================================
Unconsolidated Consolidated Consolidated
DTE Energy DTE BH DTE Synfuels DTE ES DTE Indiana
Services, Inc Holdings, Inc LLC Holdings, Inc Harbor, LLC
-----------------------------------------------------------------------------------
OPERATING REVENUES (1,530) 141,245 85,055 (5,279) 7,937
OPERATING EXPENSES
Fuel and purchased power 240 18,949 100,043 - -
Gas - - - - -
Operation and maintenance 19,978 100,247 32,070 - 58
Depreciation and amortization 235 904 2 - 29,002
Taxes Other Than Income 428 - 4,432 - -
-----------------------------------------------------------------------------------
Total Operating Expenses 20,881 120,100 136,547 - 29,060
-----------------------------------------------------------------------------------
OPERATING INCOME (LOSS) (22,411) 21,145 (51,492) (5,279) (21,123)
-----------------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 6,905 4,483 1 - -
Preferred stock dividends of subsidiary - - - - -
Other - net (5,772) (401) - - (8)
-----------------------------------------------------------------------------------
Total Interest Expense and Other 1,133 2,970 1 - (8)
------------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES (23,544) 18,175 (51,493) (5,279) (21,115)
INCOME TAX PROVISION (BENEFIT) (121,539) (15,429) - (10,775)
-----------------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 97,995 33,604 (51,493) 5,496 (21,115)
-----------------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE - - - - -
------------------------------------------------------------------------------------
NET INCOME 97,995 32,492 (51,493) 5,496 (21,115)
===================================================================================
===============================================================================================================================
=========================================================================================================================
DTE Sparrows DTE Sparrows PCI
Point DTE Sparrows Point Enterprises DTE Northwind
Operations, Inc Point, LLC Holdings, LLC Company LLC
-----------------------------------------------------------------------------
OPERATING REVENUES 823 29,725 - 11,807 8,959
OPERATING EXPENSES
Fuel and purchased power - 13,967 - - 50
Gas - - - - -
Operation and maintenance 772 6,516 - 5,878 6,444
Depreciation and amortization - 23 - 315 775
Taxes Other Than Income 51 - - - 340
-----------------------------------------------------------------------------
Total Operating Expenses 823 20,506 - 6,193 7,609
-----------------------------------------------------------------------------
OPERATING INCOME (LOSS) - 9,219 - 5,614 1,350
-----------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense - 2,258 2,258 2,678 378
Preferred stock dividends of subsidiary - - - - -
Other - net - (84) (2,258) (190) -
-----------------------------------------------------------------------------
Total Interest Expense and Other - 2,174 - 2,488 378
-----------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES - 7,045 - 3,126 972
INCOME TAX PROVISION (BENEFIT) - - - 1,094 -
-----------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE - 7,045 - 2,032 972
-----------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE - - - - -
-----------------------------------------------------------------------------
NET INCOME - 7,045 - 2,032 972
=============================================================================
DTE Northwind DTE Backup DTE DTE Power
Operations Generation Eqpt Georgetown Georgetown Energy CBC I
LLC Leasing, LLC LP Holdings, Inc Partners, LLC LLC
--------------------------------------------------------------------------------------
OPERATING REVENUES 505 779 14,849 83 (53) (11)
OPERATING EXPENSES
Fuel and purchased power - - 967 - - -
Gas - - - - - -
Operation and maintenance 505 7 1,233 - 812 -
Depreciation and amortization - 157 2,910 - - -
Taxes Other Than Income - 29 52 - - -
--------------------------------------------------------------------------------------
Total Operating Expenses 505 193 5,162 - 812 -
--------------------------------------------------------------------------------------
OPERATING INCOME (LOSS) - 586 9,687 83 (865) (11)
--------------------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense - 74 1,393 - - -
Preferred stock dividends of subsidiary - - - - - -
Other - net - - - - - -
--------------------------------------------------------------------------------------
Total Interest Expense and Other - 74 1,393 - - -
--------------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES - 512 8,294 83 (865) (11)
INCOME TAX PROVISION (BENEFIT) - - - 29 - -
--------------------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE - 512 8,294 54 (865) (11)
--------------------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE - - - - - -
--------------------------------------------------------------------------------------
NET INCOME - 512 8,294 54 (865) (11)
======================================================================================
EES Coke DTE Elims Consolidated
Battery EES Coke DTE East Tonawanda & DTE Energy
Company, Inc Battery, LLC China, LLC LLC Reclasses Services, Inc
-------------------------------------------------------------------------------
OPERATING REVENUES 90,273 45,378 - - 11,505 442,050
OPERATING EXPENSES
Fuel and purchased power - - 1 - (17,887) 116,330
Gas - - - - - -
Operation and maintenance 77,899 39,425 670 328 (14,685) 278,157
Depreciation and amortization 8,370 4,185 - - 34,688 81,566
Taxes Other Than Income 2,234 1,209 14 - (3,441) 5,348
-------------------------------------------------------------------------------
Total Operating Expenses 88,503 44,819 685 328 (1,325) 481,401
-------------------------------------------------------------------------------
OPERATING INCOME (LOSS) 1,770 559 (685) (328) 12,830 (39,351)
-------------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 6,292 2,988 - - (8,031) 21,677
Preferred stock dividends of subsidiary - - - - - -
Other - net (987) (262) - - 6,967 (2,995)
-------------------------------------------------------------------------------
Total Interest Expense and Other 5,305 2,726 - - (2) 18,682
-------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES (3,535) (2,167) (685) (328) 12,832 (58,033)
INCOME TAX PROVISION (BENEFIT) (26,229) - - - 1 (172,848)
-------------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 22,694 (2,167) (685) (328) 12,831 114,815
-------------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE - - - - - -
-------------------------------------------------------------------------------
NET INCOME 22,694 (2,167) (685) (328) 13,893 114,815
===============================================================================
===========================================================================================================================
DTE Energy
Energy Services
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
====================================================================================================================================
Unconsolidated Consolidated Consolidated DTE Sparrows
DTE Energy DTE BH DTE Synfuels DTE ES DTE Indiana Point
Services, Inc Holdings, Inc LLC Holdings, Inc Harbor, LLC Operations, Inc
----------------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents -- 43,660 3,651 1 10 32
Restricted Cash -- -- -- -- -- --
Accounts Receivable (77) 26,333 16,426 -- -- --
Other Receivables 24,262 40 -- -- -- --
Inventories -- -- -- -- -- --
Fuel and gas -- -- -- -- -- --
Materials and Supplies -- -- 3,134 -- -- --
Other Current Assets 211 766 6,651 -- -- --
----------------------------------------------------------------------------------------------
24,396 70,799 29,862 1 10 32
----------------------------------------------------------------------------------------------
INVESTMENTS 832,385 9,302 (2) 62,893 78,469 22
----------------------------------------------------------------------------------------------
PROPERTY
Property, Plant and Equipment 7,933 186,248 189,964 -- -- --
Construction Work in Progress 13,185 -- 10,799 -- -- --
Less: Accumulated Depreciation (575) (64,576) (12,644) -- -- --
----------------------------------------------------------------------------------------------
20,543 121,672 188,119 -- -- --
----------------------------------------------------------------------------------------------
OTHER ASSETS 225 425 365 -- -- --
----------------------------------------------------------------------------------------------
877,549 202,198 218,344 62,894 78,479 54
==============================================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts Payable 2,154 904 22,391 -- -- 21
Accrued Payroll 1,944 2,530 -- -- -- 32
Short-Term Borrowings -- -- -- -- -- --
Current Portion Long-Term Debt -- 37,898 -- -- -- --
Other Current Liabilities 1,600 26,762 4,873 1 -- 1
---------------------------------------------------------------------------------------
5,698 68,094 27,264 1 -- 54
---------------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred Income Taxes 60,647 10,367 -- 4,631 -- --
Other 216,595 39,109 2,528 -- 17 --
---------------------------------------------------------------------------------------
277,242 49,476 2,528 4,631 17 --
---------------------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING
CAPITAL LEASES -- 18,158 -- -- -- --
---------------------------------------------------------------------------------------
PREFERRED SECURITIES OF
SUBSIDIARIES -- -- -- -- -- --
---------------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common Stock 226,300 64,000 254,704 50,751 135,354 --
Retained earnings and other
comprehensive income 368,309 2,470 (66,152) 7,511 (56,892) --
---------------------------------------------------------------------------------------
594,609 66,470 188,552 58,262 78,462 --
---------------------------------------------------------------------------------------
877,549 202,198 218,344 62,894 78,479 54
=======================================================================================
=============================================================================================
DTE Sparrows PCI DTE Northwind DTE Backup
DTE Sparrows Point Enterprises DTE Northwind Operations Generation Eqpt
Point, LLC Holdings, LLC Company LLC LLC Leasing, LLC
---------------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 2,531 -- 3,924 185 7 30
Restricted Cash -- -- -- -- -- --
Accounts Receivable 4,796 -- 945 776 -- 45
Other Receivables 1 -- 8 -- -- --
Inventories -- -- -- -- -- --
Fuel and gas -- -- -- -- -- --
Materials and Supplies 4,622 -- -- -- -- --
Other Current Assets 41 -- 905 332 6 26
----------------------------------------------------------------------------------------------
11,991 -- 5,782 1,293 13 101
----------------------------------------------------------------------------------------------
INVESTMENTS -- 34,900 -- 10 14 --
----------------------------------------------------------------------------------------------
PROPERTY
Property, Plant and Equipment 57,689 -- 57,086 15,453 -- 3,692
Construction Work in Progress 206 -- -- -- -- --
Less: Accumulated Depreciation (7,207) -- (12,372) (1,291) -- (241)
----------------------------------------------------------------------------------------------
50,688 0 44,714 14,162 -- 3,451
----------------------------------------------------------------------------------------------
OTHER ASSETS -- -- 1,068 -- (1) (1)
----------------------------------------------------------------------------------------------
62,679 34,900 51,564 15,465 26 3,551
==============================================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts Payable 1,097 -- 10 8 -- --
Accrued Payroll -- -- -- 5 15 --
Short-Term Borrowings -- -- 2,626 -- -- --
Current Portion Long-Term Debt -- -- -- -- -- --
Other Current Liabilities 3,210 -- 888 (1) 1 --
----------------------------------------------------------------------------------------------
4,307 -- 3,524 12 16 --
----------------------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred Income Taxes -- -- 11,103 -- -- --
Other 35,409 34,900 7,795 6,082 -- 917
----------------------------------------------------------------------------------------------
35,409 34,900 18,898 6,082 -- 917
----------------------------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES -- -- 14,448 -- -- --
PREFERRED SECURITIES OF SUBSIDIARIES -- -- -- -- -- --
SHAREHOLDERS' EQUITY
Common Stock 15,454 -- 9,700 7,903 10 1,889
Retained earnings and other
comprehensive income 7,509 -- 4,994 1,468 -- 745
----------------------------------------------------------------------------------------------
22,963 -- 14,694 9,371 10 2,634
----------------------------------------------------------------------------------------------
62,679 34,900 51,564 15,465 26 3,551
==============================================================================================
==============================================================================================
DTE DTE Power EES Coke
Georgetown Georgetown Energy CBC I Battery
LP Holdings, Inc Partners, LLC LLC Company, Inc
----------------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 219 -- 1 -- --
Restricted Cash -- -- -- -- --
Accounts Receivable 326 -- -- -- --
Other Receivables -- -- -- -- --
Inventories -- -- -- -- --
Fuel and gas -- -- -- -- --
Materials and Supplies -- -- -- -- --
Other Current Assets 151 -- -- -- --
----------------------------------------------------------------------------------------------
696 -- 1 -- --
----------------------------------------------------------------------------------------------
INVESTMENTS -- 425 56,097 484 --
----------------------------------------------------------------------------------------------
PROPERTY
Property, Plant and Equipment 55,169 -- -- -- --
Construction Work in Progress 28,813 -- -- -- --
Less: Accumulated Depreciation (4,210) -- -- -- --
----------------------------------------------------------------------------------------------
79,772 -- -- -- --
----------------------------------------------------------------------------------------------
OTHER ASSETS -- -- -- -- --
----------------------------------------------------------------------------------------------
80,468 425 56,098 484 --
----------------------------------------------------------------------------------------------
LIABILITIES
CURRENT LIABILITIES
Accounts Payable 293 -- 400 -- --
Accrued Payroll -- -- -- -- --
Short-Term Borrowings -- -- -- -- --
Current Portion Long-Term Debt 2,966 -- -- -- --
Other Current Liabilities 70 -- -- -- --
----------------------------------------------------------------------------------------------
3,329 -- 400 -- --
----------------------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred Income Taxes -- 13 -- -- --
Other 975 16 812 -- --
----------------------------------------------------------------------------------------------
975 29 812 -- --
----------------------------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING
CAPITAL LEASES 19,898 -- -- -- --
----------------------------------------------------------------------------------------------
PREFERRED SECURITIES OF
SUBSIDIARIES -- -- -- -- --
----------------------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common Stock 47,937 341 56,005 495 --
Retained earnings and other
comprehensive income 8,329 55 (1,119) (11) --
----------------------------------------------------------------------------------------------
56,266 396 54,886 484 --
----------------------------------------------------------------------------------------------
80,468 425 56,098 484 --
==============================================================================================
==============================================================================================
DTE Elims Consolidated
EES Coke DTE East Tonawanda & DTE Energy
Battery, LLC China, LLC LLC Reclasses Services, Inc
----------------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 43,950 -- 18,785 (1) 116,985
Restricted Cash -- -- -- -- --
Accounts Receivable 10,769 -- -- 33 60,372
Other Receivables 31 -- -- (24,261) 81
Inventories -- -- -- -- --
Fuel and gas -- -- -- -- --
Materials and Supplies 602 -- -- -- 8,358
Other Current Assets 2,995 -- -- -- 12,084
----------------------------------------------------------------------------------------------
58,347 -- 18,785 (24,229) 197,880
----------------------------------------------------------------------------------------------
INVESTMENTS -- -- -- (902,916) 172,083
----------------------------------------------------------------------------------------------
PROPERTY
Property, Plant and Equipment 211,219 4 -- (1) 784,456
Construction Work in Progress -- 76,498 7,934 1 137,436
Less: Accumulated Depreciation (39,769) -- -- (1) (142,886)
----------------------------------------------------------------------------------------------
171,450 76,502 7,934 (1) 779,006
----------------------------------------------------------------------------------------------
OTHER ASSETS 19,879 -- 483 1 22,444
----------------------------------------------------------------------------------------------
249,676 76,502 27,202 (927,145) 1,171,413
==============================================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts Payable 2,575 -- -- -- 29,853
Accrued Payroll -- -- -- 3,883 8,409
Short-Term Borrowings -- -- -- (2,626) --
Current Portion Long-Term Debt 35,722 -- -- (341) 76,245
Other Current Liabilities 5,281 (1) -- (29,108) 13,577
----------------------------------------------------------------------------------------------
43,578 (1) -- (28,192) 128,084
----------------------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred Income Taxes -- -- -- (277) 86,484
Other 36,226 77,188 30 (179,354) 279,245
----------------------------------------------------------------------------------------------
36,226 77,188 30 (179,631) 365,729
----------------------------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING
CAPITAL LEASES 58,313 -- 27,500 (19,017) 119,300
----------------------------------------------------------------------------------------------
PREFERRED SECURITIES OF
SUBSIDIARIES -- -- -- -- --
----------------------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common Stock 113,726 -- -- (758,269) 226,300
Retained earnings and other
comprehensive income (2,167) (685) (328) 57,964 332,000
----------------------------------------------------------------------------------------------
111,559 (685) (328) (700,305) 558,300
----------------------------------------------------------------------------------------------
249,676 76,502 27,202 (927,145) 1,171,413
==============================================================================================
DTE Energy
Energy Services
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
====================================================================================================================================
Unconsolidated Consolidated Consolidated
DTE Energy DTE BH DTE Synfuels DTE ES DTE Indiana
Services, Inc Holdings, Inc LLC Holdings, Inc Harbor, LLC
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 270,314 46,236 (14,659) 10,998 (35,777)
Net income (loss) 97,995 32,492 (51,493) 5,496 (21,115)
Dividends on common stock -- -- -- -- --
Repurchase and retirement of common stock -- -- -- -- --
Other -- (76,258) -- (8,983) --
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 368,309 2,470 (66,152) 7,511 (56,892)
================================================================================
================================================================================
DTE Sparrows DTE Sparrows PCI
Point DTE Sparrows Point Enterprises DTE Northwind
Operations, Inc Point, LLC Holdings, LLC Company LLC
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 - 464 - 3,792 496
Net income (loss) - 7,045 - 2,032 972
Dividends on common stock - -- - -- --
Repurchase and retirement of common stock - -- - -- --
Other - -- - -- --
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 - 7,509 - 5,824 1,468
================================================================================
================================================================================
DTE Northwind DTE Backup DTE DTE
Operations Generation Eqpt Georgetown Georgetown
LLC Leasing, LLC LP Holdings, Inc
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 - 233 8,329 1
Net income (loss) - 512 8,294 54
Dividends on common stock - -- -- --
Repurchase and retirement of common stock - -- -- --
Other - -- (8,294) --
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 - 745 8,329 55
================================================================================
================================================================================
Power EES Coke
Energy CBC I Battery EES Coke DTE East
Partners, LLC LLC Company, Inc Battery, LLC China, LLC
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 (254) -- 47,944 -- --
Net income (loss) (865) (11) 22,694 (2,167) (685)
Dividends on common stock -- -- -- -- --
Repurchase and retirement of common stock -- -- -- -- --
Other -- -- (70,638) -- --
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 (1,119) (11) -- (2,167) (685)
================================================================================
================================================================================
DTE Elims Consolidated
Tonawanda & DTE Energy
LLC Reclasses LLC Services, Inc
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 -- (120,103) 218,014
Net income (loss) (328) 13,893 114,815
Dividends on common stock -- -- --
Repurchase and retirement of common stock -- -- --
Other -- 163,344 (829)
--------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 (328) 57,134 332,000
================================================================================
DTE Energy
DTE Energy Enterprises
Consolidating Statement of Operations
For The Seven Months Ended December 31, 2001
(In Thousands)
==================================================================================================================================
DTE
DTE MICHCON FINANCING MCNEE ELIMS & ENERGY
ENTERPRISES HOLDINGS CITIZENS COMPANIES CONSOL. RECLASSES ENT.
------------------------------------------------------------------------------------
OPERATING REVENUES 3,482 602,283 8,526 -- 573,837 (59,304) 1,128,824
------------------------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power -- -- -- -- -- -- --
Gas 2,011 337,821 5,976 -- 430,847 (86,244) 690,411
Operation and maintenance 2,811 265,153 1,765 -- 114,502 (104,964) 279,266
Depreciation and amortization 1,473 68,747 354 -- 13,555 19,522 103,652
Taxes Other Than Income 488 31,729 251 -- 3,724 (7,732) 28,460
-------------------------------------------------------------------------------------
Total Operating Expenses 6,783 703,450 8,346 -- 562,628 (179,418) 1,101,789
-------------------------------------------------------------------------------------
OPERATING INCOME (LOSS) (3,301) (101,167) 180 -- 11,209 120,114 27,035
-------------------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 2,778 33,262 216 -- 40,116 (19,986) 56,386
Preferred stock dividends of subsidiary -- -- -- 14,758 -- -- 14,758
Other - net 253,160 (5,539) (15) (15,103) 235,483 (476,507) (8,520)
-------------------------------------------------------------------------------------
Total Interest Expense and Other 255,937 27,723 201 (345) 275,600 (496,492) 62,623
-------------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES (259,238) (128,890) (21) 345 (264,391) 616,607 (35,588)
INCOME TAX PROVISION (BENEFIT) (4,210) (46,526) (26) -- (94,954) 140,207 (5,509)
-------------------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE (255,028) (82,364) 5 345 (169,437) 476,400 (30,079)
-------------------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE -- (40) -- -- -- -- (40)
-------------------------------------------------------------------------------------
NET INCOME (255,028) (82,324) 5 345 (169,437) 476,400 (30,039)
===================================================================================================================================
DTE Energy
DTE Energy Enterprises
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
===================================================================================================================================
DTE MICHCON FINANCING MCNEE ELIMS & DTE ENERGY
ENTERPRISES HOLDINGS CITIZENS COMPANIES CONSOL RECLASSES ENT.
-------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 46,980 3,939 681 - 3,670 (46,477) 8,793
Restricted cash - - - - - - --
Accounts receivable
Customer (less allowance for doubtful accounts) 399 143,668 (65) - 101,536 - 245,538
Accrued unbilled revenues 352 110,300 1,236 - - - 111,888
Other 10,116 121,994 1,708 1,136 67,603 (18,832) 183,726
Inventories
Fuel and gas - 6,177 - - 136,973 - 143,150
Materials and supplies 122 15,013 5,287 - 170 - 20,592
Asset from risk management activities - - - - 132,650 - 132,650
Other 287 55,441 101 - 4,802 - 60,630
-------------------------------------------------------------------------------
58,256 456,533 8,948 1,136 447,404 (65,309) 906,968
-------------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds - - - - - - --
Other 672,203 77,361 - 292,285 247,592 (927,059) 362,384
-------------------------------------------------------------------- ----------
672,203 77,361 - 292,285 247,592 (927,059) 362,384
-------------------------------------------------------------------- ----------
PROPERTY
Property, plant and equipment 60,103 3,052,183 26,011 - 546,565 (105,774) 3,579,088
Property under capital leases - 13,232 - - - (1,731) 11,501
-------------------------------------------------------------------------------
60,103 3,065,415 26,011 - 546,565 (107,505) 3,590,589
-------------------------------------------------------------------------------
Less: accumulated depreciation and amortization 30,966 1,626,015 11,437 - 265,940 - 1,934,358
-------------------------------------------------------------------------------
29,137 1,439,400 14,574 - 280,625 (107,505) 1,656,232
-------------------------------------------------------------------------------
Goodwill - - - - 8,460 1,959,107 1,967,567
-------------------------------------------------------------------------------
Regulatory Assets 2,003 57,757 2,261 - - - 62,020
-------------------------------------------------------------------------------
OTHER ASSETS
Asset from risk management activities - - - - 139,111 - 139,111
Other 4,589 341,691 3,396 - 90,805 241,521 682,002
-------------------------------------------------------------------------------
4,589 341,691 3,396 - 229,917 241,521 821,113
-------------------------------------------------------------------------------
766,188 2,372,743 29,179 293,421 1,213,999 1,100,755 5,776,284
===============================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 45,655 150,573 2,086 - 182,234 (15,836) 364,712
Accrued interest 1,478 12,448 60 - 8,524 (342) 22,168
Dividends payable - - - 1,136 - (34) 1,102
Accrued payroll 2,129 5,520 - - 1,370 - 9,020
Short-term borrowings - 255,065 7,459 - 411,482 (7,459) 666,547
Income taxes (36,027) 742 650 - (174,876) - (209,512)
General Taxes (307) 49,261 201 - 5,021 - 54,177
Current portion long-term debt 104 20,610 - - 190,000 - 210,714
Current portion capital leases - 520 - - - - 520
Liability from risk management activities - - - - 112,994 20,427 133,421
Other 822 58,468 655 - 14,629 25,909 100,483
-------------------------------------------------------------------------------
13,854 553,206 11,110 1,136 751,380 22,666 1,353,352
-------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes (8,496) 72,547 1,978 - (106,430) (140,631) (181,031)
Capital leases - 2,083 - - - - 2,083
Regulatory liabilities - 190,189 - - - - 190,189
Unamortized Investment tax credit - 24,129 190 - - - 24,319
Liabilities from risk management activities - - - - 301,618 - 301,618
Other 18,768 129,581 3,567 - 15,845 390,884 558,645
-------------------------------------------------------------------------------
10,273 418,530 5,734 - 211,032 250,253 895,823
-------------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES 331,185 776,494 - - 222,925 (330,605) 999,998
-------------------------------------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES - - - 272,772 - 900 273,672
-------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 955,031 247,960 2,410 21,205 652,952 654,293 2,533,851
Retained earnings and other comprehensive income (544,156) 376,553 9,924 (1,692) (624,290) 503,248 (280,412)
-------------------------------------------------------------------------------
410,876 624,513 12,334 19,513 28,662 1,157,541 2,253,439
-------------------------------------------------------------------------------
766,188 2,372,743 29,179 293,421 1,213,999 1,100,755 5,776,284
===============================================================================
===================================================================================================================================
DTE Energy
DTE Energy Enterprises
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
====================================================================================================================================
DTE MICHCON FINANCING MCNEE ELIMS & DTE ENT.
ENTERPRISES HOLDINGS CITIZENS COMPANIES CONSOL RECLASSES CONSOL
----------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 (100,856) 494,945 8,730 (1,404) (309,105) (193,166) (100,856)
Net income (loss) (255,028) (82,324) 5 345 (169,437) 252,220 (30,039)
Dividends on common stock -- -- -- -- -- -- --
Repurchase and retirement of common stock -- -- -- -- -- -- --
Other (188,272) (36,068) 1,189 (633) (145,748) 213,198 (149,517)
----------------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 (544,156) 376,553 9,924 (1,692) (624,290) 272,252 (280,412)
==================================================================================
====================================================================================================================================
DTE Energy Enterprises
Michcon Holdings Inc.
Consolidating Statement of Operations
For The Seven Months Ended December 31, 2001
(In Thousands)
==============================================================================================================
MICHCON
MICHCON MICHCON MICHCON ELIMS & HOLDINGS
HOLDINGS CONSOL. ENTERPR. RECLASSES CONSOL.
-----------------------------------------------------------------
OPERATING REVENUES - 602,283 - - 602,283
-----------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - - -
Gas - 337,821 - - 337,821
Operation and maintenance - 265,031 122 - 265,153
Depreciation and amortization - 68,747 - - 68,747
Taxes Other Than Income - 31,741 (12) - 31,729
-----------------------------------------------------------------
Total Operating Expenses - 703,340 110 - 703,450
-----------------------------------------------------------------
OPERATING INCOME (LOSS) - (101,057) (110) - (101,167)
-----------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense - 33,299 13 (51) 33,262
Preferred stock dividends of subsidiary - - - - -
Other - net 81,157 (5,520) (25) (81,151) (5,539)
-----------------------------------------------------------------
Total Interest Expense and Other 81,157 27,779 (12) (81,202) 27,723
-----------------------------------------------------------------
INCOME BEFORE INCOME TAXES (81,157) (128,836) (98) 81,202 (128,890)
INCOME TAX PROVISION (BENEFIT) 1,158 (47,650) (34) - (46,526)
-----------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE (82,316) (81,186) (64) 81,202 (82,364)
-----------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE - (40) - - (40)
-----------------------------------------------------------------
NET INCOME (82,316) (81,147) (64) 81,202 (82,324)
=================================================================
==============================================================================================================
DTE Energy Enterprises
Michcon Holdings
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
====================================================================================================================================
MICHCON MICHCON MICHCON ELIMS & MICHCON HLD
HOLDINGS CONSOL. ENTERPR. RECLASSES CONSOL.
---------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 1,797 4,197 9 (2,065) 3,939
Restricted cash - - - - -
Accounts receivable
Customer (less allowance for doubtful accounts) - 143,660 8 - 143,668
Accrued unbilled revenues - 110,300 - - 110,300
Other 8 121,573 426 (13) 121,994
Inventories
Fuel and gas - 6,177 - - 6,177
Materials and supplies - 15,013 - - 15,013
Asset from risk management activities - - - - -
Other - 55,441 - - 55,441
---------------------------------------------------------------------------
1,806 456,362 443 (2,078) 456,533
---------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds - - - - -
Other 620,442 77,361 - (620,442) 77,361
---------------------------------------------------------------------------
620,442 77,361 - (620,442) 77,361
---------------------------------------------------------------------------
PROPERTY
Property, plant and equipment - 3,052,183 - - 3,052,183
Property under capital leases - 13,232 - - 13,232
---------------------------------------------------------------------------
- 3,065,415 - - 3,065,415
---------------------------------------------------------------------------
Less: accumulated depreciation and amortization - 1,626,015 - - 1,626,015
---------------------------------------------------------------------------
- 1,439,400 - - 1,439,400
---------------------------------------------------------------------------
Goodwill - - - - -
---------------------------------------------------------------------------
Regulatory Assets - 57,757 - - 57,757
---------------------------------------------------------------------------
OTHER ASSETS
Asset from risk management activities - - - - -
Other - 341,699 - (8) 341,691
---------------------------------------------------------------------------
- 341,699 - (8) 341,691
---------------------------------------------------------------------------
622,248 2,372,580 443 (622,528) 2,372,743
===========================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable - 150,573 (87) 87 150,573
Accrued interest - 12,544 2 (98) 12,448
Dividends payable - - - - -
Accrued payroll - 5,520 - - 5,520
Short-term borrowings - 256,862 268 (2,066) 255,065
Income taxes (770) 1,539 (27) - 742
General Taxes - 49,261 - - 49,261
Current portion long-term debt - 20,610 - - 20,610
Current portion capital leases - 520 - - 520
Liability from risk management activities - - - - -
Other - 58,468 - - 58,468
---------------------------------------------------------------------------
(770) 555,896 156 (2,077) 553,206
---------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes (1,504) 74,026 26 - 72,547
Capital leases - 2,083 - - 2,083
Regulatory liabilities - 190,189 - - 190,189
Unamortized Investment tax credit - 24,129 - - 24,129
Liability from risk management activities - - - - -
Other - 129,581 - - 129,581
---------------------------------------------------------------------------
(1,504) 420,008 26 - 418,530
---------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES - 776,494 - - 776,494
---------------------------------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES - - - - -
---------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 247,960 242,841 21,824 (264,665) 247,960
Retained earnings and other comprehensive income 376,561 377,341 (21,563) (355,786) 376,553
---------------------------------------------------------------------------
624,522 620,182 261 (620,452) 624,513
---------------------------------------------------------------------------
622,248 2,372,580 443 (622,528) 2,372,743
===========================================================================
DTE Energy Enterprises
Michcon Holdings
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
=================================================================================================================================
MICHCON MICHCON MICHCON ELIMS & MICHCON HLD
HOLDINGS CONSOL. ENTERPR. RECLASSES CONSOL.
-------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 494,945 494,648 (19,681) (474,967) 494,945
Net income (loss) (82,316) (81,147) (64) 81,202 (82,325)
Dividends on common stock - - - - -
Repurchase and retirement of common stock - - - - -
Other (36,068) (36,160) (1,818) 37,979 (36,067)
-------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 376,561 377,341 (21,563) (355,786) 376,553
=========================================================================
=================================================================================================================================
DTE Energy Enterprises
Michigan Consolidated Gas Company
Consolidating Statement of Operations
For The Seven Months Ended December 31, 2001
(In Thousands)
================================================================================================================================
MICHCON MICHCON BLUE LAKE ELIMS & MICHCON
MICHCON DEVELOP. PIPELINE HOLDING RECLASSES CONSOL.
----------------------------------------------------------------------------------
OPERATING REVENUES 586,889 - 16,466 - (1,072) 602,283
----------------------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - - - -
Gas 337,882 - 64 - (125) 337,821
Operation and maintenance 254,936 58 10,845 140 (948) 265,031
Depreciation and amortization 57,902 10 10,836 - - 68,747
Taxes Other Than Income 31,056 - 685 - - 31,741
----------------------------------------------------------------------------------
Total Operating Expenses 681,774 68 22,430 140 (1,072) 703,340
----------------------------------------------------------------------------------
OPERATING INCOME (LOSS) (94,885) (68) (5,963) (140) - (101,057)
----------------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 33,693 - 388 - (783) 33,299
Preferred stock dividends of subsidiary - - - - - -
Other - net (2,259) 2,708 (410) (1,667) (3,893) (5,520)
----------------------------------------------------------------------------------
Total Interest Expense and Other 31,435 2,708 (22) (1,667) (4,676) 27,779
----------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES (126,320) (2,776) (5,942) 1,526 4,676 (128,836)
INCOME TAX PROVISION (BENEFIT) (45,134) (972) (2,079) 534 - (47,650)
----------------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE (81,186) (1,805) (3,863) 992 4,676 (81,186)
----------------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE (40) - - - - (40)
----------------------------------------------------------------------------------
NET INCOME (81,147) (1,805) (3,863) 992 4,676 (81,147)
==================================================================================
================================================================================================================================
DTE Energy Enterprises
Michigan Consolidated Gas Company
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
====================================================================================================================================
MICHCON MICHCON BLUE LAKE ELIMS & MICHCON
MICHCON DEVELOP. PIPELINE HOLDING RECLASSES CONSOL.
-----------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 7,263 1,343 18,125 - (22,534) 4,197
Restricted cash - - - - - -
Accounts receivable
Customer (less allowance for doubtful accounts) 137,983 - 5,677 - - 143,660
Accrued unbilled revenues 110,300 - - - - 110,300
Other 122,959 12 399 - (1,797) 121,573
Inventories
Fuel and gas 6,177 - - - - 6,177
Materials and supplies 15,013 - - - - 15,013
Asset from risk management activities - - - - - -
Other 55,363 - 77 - - 55,441
-----------------------------------------------------------------------------
455,060 1,355 24,278 - (24,331) 456,362
-----------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning trust funds - - - - - -
Other 127,666 (102) - 8,937 (59,140) 77,361
-----------------------------------------------------------------------------
127,666 (102) - 8,937 (59,140) 77,361
-----------------------------------------------------------------------------
PROPERTY
Property, plant and equipment 2,952,802 1,927 97,454 - - 3,052,183
Property under capital leases 13,232 - - - - 13,232
-----------------------------------------------------------------------------
2,966,034 1,927 97,454 - - 3,065,415
-----------------------------------------------------------------------------
Less: accumulated depreciation and amortization 1,577,321 134 48,560 - - 1,626,015
-----------------------------------------------------------------------------
1,388,713 1,793 48,893 - - 1,439,400
-----------------------------------------------------------------------------
Goodwill - - - - - -
-----------------------------------------------------------------------------
Regulatory Assets 57,757 - - - - 57,757
-----------------------------------------------------------------------------
OTHER ASSETS
Asset from risk management activities - - - - - -
Other 341,333 305 56 - 4 341,699
-----------------------------------------------------------------------------
341,333 305 56 - 4 341,699
-----------------------------------------------------------------------------
2,370,530 3,352 73,228 8,937 (83,467) 2,372,580
=============================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 145,531 56 6,600 104 (1,719) 150,573
Accrued interest 12,607 - 12 - (75) 12,544
Dividends payable - - - - - -
Accrued payroll 5,520 - - - - 5,520
Short-term borrowings 276,231 - 3,165 - (22,534) 256,862
Income taxes 351 (51) 589 651 - 1,539
General Taxes 48,657 - 604 - - 49,261
Current portion long-term debt 17,314 - 3,296 - - 20,610
Current portion capital leases 520 - - - - 520
Liability from risk management activities - - - - - -
Other 59,322 - (855) - - 58,468
-----------------------------------------------------------------------------
566,052 5 13,411 755 (24,327) 555,896
-----------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes 70,657 (887) 3,158 1,097 - 74,026
Capital leases 2,083 - - - - 2,083
Regulatory liabilities 190,189 - - - - 190,189
Unamortized Investment tax credit 24,129 - - - - 24,129
Liability from risk management activities - - - - - -
Other 128,267 671 644 - - 129,581
-----------------------------------------------------------------------------
415,324 (216) 3,802 1,097 - 420,008
-----------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING CAPITAL LEASES 768,971 - 7,523 - - 776,494
-----------------------------------------------------------------------------
PREFERRED SECURITIES OF SUBSIDIARIES - - - - - -
-----------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 242,841 18,214 35,544 5,211 (58,969) 242,841
Retained earnings and other comprehensive income 377,341 (14,651) 12,949 1,874 (171) 377,341
-----------------------------------------------------------------------------
620,182 3,562 48,493 7,084 (59,140) 620,182
-----------------------------------------------------------------------------
2,370,530 3,352 73,228 8,937 (83,467) 2,372,580
=============================================================================
====================================================================================================================================
DTE Energy Enterprises
Michigan Consolidated Gas Company
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
====================================================================================================================================
MICHCON MICHCON BLUE LAKE ELIMS & MICHCON
MICHCON DEVELOP. PIPELINE HOLDING RECLASSES CONSOL.
---------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2000 494,648 (8,510) 14,988 4,775 (11,252) 494,649
Net income (loss) (81,147) (1,805) (3,863) 992 4,676 (81,147)
Dividends on common stock - - - - - -
Repurchase and retirement of common stock - - - - - -
Other (36,160) (4,336) 1,824 (3,893) 6,405 (36,160)
---------------------------------------------------------------------------
Retained earnings (deficit) at December 31, 2001 377,341 (14,651) 12,949 1,874 (171) 377,342
===========================================================================
===================================================================================================================================
DTE Energy Enterprises
MCN Energy Enterprises
Consolidating Statement of Operations
For The Seven Months Ended December 31, 2001
(In Thousands)
=================================================================================================================================
TOTAL
BRIDGE COMBUSTION GAS ELIMS & MCNEE
MCNEE WATER CONCEPTS SERVICES RECLASSES CONSOL.
-------------------------------------------------------------------------------------
OPERATING REVENUES - - - 573,837 - 573,837
-------------------------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - - - -
Gas - - - 430,847 - 430,847
Operation and maintenance 24,224 - 2 90,276 - 114,502
Depreciation and amortization (73) - - 13,628 - 13,555
Taxes Other Than Income 262 6 - 3,455 - 3,724
-------------------------------------------------------------------------------------
Total Operating Expenses 24,413 6 2 538,207 - 562,628
-------------------------------------------------------------------------------------
OPERATING INCOME (LOSS) (24,413) (6) (2) 35,631 - 11,209
-------------------------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 39,840 - - 18,843 (18,567) 40,116
Preferred stock dividends of subsidiary - - - - - -
Other - net 120,575 - 2 237,190 (122,284) 235,483
-------------------------------------------------------------------------------------
Total Interest Expense and Other 160,416 - 2 256,033 (140,851) 275,600
-------------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES (184,828) (6) (4) (220,403) 140,851 (264,391)
INCOME TAX PROVISION (BENEFIT) (15,423) (2) (2) (79,527) - (94,954)
-------------------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE (169,405) (4) (3) (140,875) 140,851 (169,437)
-------------------------------------------------------------------------------------
CUMULATIVE EFFECT OF ACCOUNTING CHANGE - - - - - -
-------------------------------------------------------------------------------------
NET INCOME (169,405) (4) (3) (140,875) 140,851 (169,437)
=====================================================================================
=================================================================================================================================
DTE Energy Enterprises
MCN Energy Enterprises
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
===============================================================================================================================
ELIMS &
BRIDGE COMBUSTION GAS SER. RECLASSES MCNEE
MCNEE WATER CONCEPTS CONSOL. SERVICES CONSOL.
----------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 469,150 - 1 6,533 (472,015) 3,670
Restricted cash - - - - - -
Accounts receivable
Customer (less allowance for
doubtful accounts) - - - 101,536 - 101,536
Accrued unbilled revenues - - - - - -
Other 2,513 - - 67,170 (2,080) 67,603
Inventories
Fuel and gas - - - 136,973 - 136,973
Materials and supplies - - - 170 - 170
Asset from risk management
activities - - - 132,650 - 132,650
Other - - - 4,802 - 4,802
-----------------------------------------------------------------------------------------
471,664 - 1 449,834 (474,095) 447,404
-----------------------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning
trust funds - - - - - -
Other 289,405 - - 246,166 (287,979) 247,592
-----------------------------------------------------------------------------------------
289,405 - - 246,166 (287,979) 247,592
-----------------------------------------------------------------------------------------
PROPERTY
Property, plant and equipment 1,494 984 - 544,087 - 546,565
Property under capital leases - - - - - -
-----------------------------------------------------------------------------------------
1,494 984 - 544,087 - 546,565
-----------------------------------------------------------------------------------------
Less: accumulated depreciation
and amortization 261 - - 265,678 - 265,940
-----------------------------------------------------------------------------------------
1,232 984 - 278,409 - 280,625
-----------------------------------------------------------------------------------------
Goodwill - - 55 8,405 - 8,460
-----------------------------------------------------------------------------------------
Regulatory Assets - - - - - -
-----------------------------------------------------------------------------------------
OTHER ASSETS
Asset from risk
management activities 154 - - 138,957 - 139,111
Other 71,629 - - 18,693 484 90,805
-----------------------------------------------------------------------------------------
71,783 - - 157,650 484 229,917
-----------------------------------------------------------------------------------------
834,085 984 56 1,140,464 (761,591) 1,213,999
=========================================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 6,723 1 - 177,591 (2,080) 182,234
Accrued interest 8,235 - - 289 - 8,524
Dividends payable - - - - - -
Accrued payroll 1,370 - - - - 1,370
Short-term borrowings 414,548 - - 468,949 (472,015) 411,482
Income taxes (37,719) (8) 24 (137,173) - (174,876)
General Taxes - 3 - 5,018 - 5,021
Current portion long-term debt 190,000 - - - - 190,000
Current portion capital leases - - - - - -
Liability from risk
management activities - - - 112,994 - 112,994
Other 2,501 - - 12,129 - 14,629
-----------------------------------------------------------------------------------------
585,658 (4) 24 639,797 (474,095) 751,380
-----------------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes (5,884) 146 (9) (100,683) - (106,430)
Capital leases - - - - - -
Regulatory liabilities - - - - - -
Unamortized Investment
tax credit - - - - - -
Liability from risk
management activities - - - 301,618 - 301,618
Other 3,088 - 37 12,719 - 15,845
-----------------------------------------------------------------------------------------
(2,795) 146 28 213,653 - 211,032
-----------------------------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING
CAPITAL LEASES 223,087 - - 16,238 (16,400) 222,925
-----------------------------------------------------------------------------------------
PREFERRED SECURITIES OF
SUBSIDIARIES - - - - - -
-----------------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 653,283 840 1,726 819,904 (822,802) 652,952
Retained earnings and
other comprehensive income (625,148) 2 (1,721) (549,128) 551,706 (624,290)
-----------------------------------------------------------------------------------------
28,135 842 5 270,776 (271,096) 28,662
-----------------------------------------------------------------------------------------
834,085 984 56 1,140,464 (761,591) 1,213,999
================================================================================================================================
DTE Energy Enterprises
MCN Energy Enterprises
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
============================================================================================================================
ELIMS &
BRIDGE COMBUSTION GAS SER. RECLASSES MCNEE
MCNEE WATER CONCEPTS CONSOL. SERVICES CONSOL.
------------------------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2000 (309,105) 8 (1,717) (163,183) 164,892 (309,105)
Net income (loss) (169,405) (4) (3) (140,875) 140,851 (169,436)
Dividends on common stock - - - - - -
Repurchase and retirement of
common stock - - - - - -
Other (146,638) (2) (1) (245,070) 245,963 (145,748)
------------------------------------------------------------------------------------------
Retained earnings (deficit) at
December 31, 2001 (625,148) 2 (1,721) (549,128) 551,706 (624,289)
==========================================================================================
============================================================================================================================
DTE Energy Enterprises
Gas Services
Consolidating Statement of Operations
For The Seven Months Ended December 31, 2001
(In Thousands)
==========================================================================================================
MCNIC MCN INT'L
COENERGY COENERGY COENERGY GAS POWER SERVICES
CANADIAN TRADING SUPPLY STORAGE CONSOL. CONSOL.
-----------------------------------------------------------------------
OPERATING REVENUES - 494,585 77,763 4,243 - -
-----------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - - - -
Gas - 421,209 56,433 7 - -
Operation and maintenance 9 56,408 952 1,761 95 22,241
Depreciation and amortization - 1,725 - 40 148 3
Taxes Other Than Income - 120 98 800 - -
-----------------------------------------------------------------------
Total Operating Expenses 9 479,462 57,483 2,607 244 22,244
-----------------------------------------------------------------------
OPERATING INCOME (LOSS) (9) 15,123 20,281 1,636 (244) (22,244)
-----------------------------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense - 11,814 281 - - -
Preferred stock dividends
of subsidiary - - - - - -
Other - net (36) 2,937 (491) (1,785) 46 (1,702)
-----------------------------------------------------------------------
Total Interest Expense
and Other (36) 14,751 (210) (1,785) 46 (1,702)
-----------------------------------------------------------------------
INCOME BEFORE INCOME TAXES 28 372 20,490 3,421 (289) (20,542)
INCOME TAX PROVISION (BENEFIT) 11 139 7,172 1,218 (101) (7,190)
-----------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 17 233 13,318 2,203 (188) (13,352)
-----------------------------------------------------------------------
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE - - - - - -
-----------------------------------------------------------------------
NET INCOME 17 233 13,318 2,203 (188) (13,352)
=======================================================================
PIPELINE & GAS
MCNIC PROCESS. ELIMS & SERVICES
OIL & GAS CONSOL. RECLASSES CONSOL.
---------------------------------------------------
OPERATING REVENUES 41,898 5,261 (49,913) 573,837
---------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - -
Gas - - (46,802) 430,847
Operation and maintenance 8,021 3,870 (3,080) 90,276
Depreciation and amortization 10,388 1,325 - 13,628
Taxes Other Than Income 2,207 230 - 3,455
---------------------------------------------------
Total Operating Expenses 20,616 5,425 (49,882) 538,207
---------------------------------------------------
OPERATING INCOME (LOSS) 21,282 (163) (31) 35,631
---------------------------------------------------
INTEREST EXPENSE AND OTHER
Interest expense 6,746 1 - 18,843
Preferred stock dividends
of subsidiary - - - -
Other - net 3,650 234,572 - 237,190
---------------------------------------------------
Total Interest Expense
and Other 10,396 234,573 - 256,033
---------------------------------------------------
INCOME BEFORE INCOME TAXES 10,886 (234,737) (31) (220,403)
INCOME TAX PROVISION (BENEFIT) 1,853 (82,630) - (79,527)
---------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 9,033 (152,106) (31) (140,875)
---------------------------------------------------
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE - - - -
---------------------------------------------------
NET INCOME 9,033 (152,106) (31) (140,875)
===================================================
====================================================================================
DTE Energy Enterprises
Gas Services
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
=======================================================================================================
COENERGY COENERGY COENERGY MCNIC GAS MCN POWER
CANADIAN TRADING SUPPLY STORAGE CONSOL.
---------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 1,675 (1,081) 707 83 (1)
Restricted cash - - - - -
Accounts receivable
Customer (less allowance
for doubtful accounts) - 72,199 21,150 - 707
Accrued unbilled revenues - - - - -
Other - 51,382 32 975 898
Inventories
Fuel and gas - 134,389 2,584 - -
Materials and supplies - - - - -
Property taxes assessed to
future periods - - - -
Asset from risk
management activities - 132,650 - - -
Other - 2,962 - 955 613
-------------------------------------------------------------------
1,675 392,502 24,472 2,013 2,217
-------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning
trust funds - - - - -
Other - (3,897) - 17,184 10,933
-------------------------------------------------------------------
- (3,897) - 17,184 10,933
-------------------------------------------------------------------
PROPERTY
Property, plant and equipment - 5,601 - 2,529 950
Property under capital leases - - - - -
-------------------------------------------------------------------
- 5,601 - 2,529 950
-------------------------------------------------------------------
Less: accumulated depreciation
and amortization - 4,069 - 44 179
-------------------------------------------------------------------
- 1,532 - 2,485 771
-------------------------------------------------------------------
Goodwill - 8,324 - 39 -
-------------------------------------------------------------------
Regulatory Assets - - - - -
-------------------------------------------------------------------
OTHER ASSETS
Asset from risk
management activities - 138,957 - - -
Other - 402 (15) 466 (26)
-------------------------------------------------------------------
- 139,359 (15) 466 (26)
-------------------------------------------------------------------
1,675 537,820 24,457 22,187 13,895
===================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 1,270 130,819 3,784 294 1,313
Accrued interest - - - - -
Dividends payable - - - - -
Accrued payroll - - - - -
Short-term borrowings - 301,410 16,636 - -
Income taxes (183) (52,786) 1,304 (423) 889
General Taxes - 1,281 168 1,323 (82)
Current portion long-term debt - - - - -
Current portion capital leases - - - - -
Liability from risk
management activities - 112,994 - - -
Other - 1,000 - 6 -
-------------------------------------------------------------------
1,088 494,719 21,891 1,199 2,121
-------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes - (30,927) (331) (1,948) (6,883)
Capital leases - - - - -
Regulatory liabilities - - - - -
Unamortized Investment
tax credit - - - - -
Liabilities from risk
management activities - 301,618 - - -
Other - (1,223) - 13,161 31
-------------------------------------------------------------------
- 269,468 (331) 11,213 (6,852)
-------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING
CAPITAL LEASES - 16,400 - (162) -
-------------------------------------------------------------------
PREFERRED SECURITIES OF
SUBSIDIARIES - - - - -
-------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 349 8,128 (22,797) 5,607 (64,059)
Retained earnings and other
comprehensive income 238 (250,894) 25,694 4,330 82,686
-------------------------------------------------------------------
587 (242,766) 2,897 9,937 18,627
-------------------------------------------------------------------
1,674 537,820 24,457 22,187 13,895
===================================================================
---------------------------------------------------------------------
INT'L SER. MCNIC PIPELINE ELIMS & GAS SERV.
CONSOL. OIL & GAS CONSOL. RECLASSES CONSOL.
SERVICES
---------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 20 2,117 3,012 - 6,533
Restricted cash - - - - -
Accounts receivable
Customer (less allowance
for doubtful accounts) - 6,709 771 - 101,536
Accrued unbilled revenues - - - - -
Other - 6,116 9,521 (1,754) 67,170
Inventories
Fuel and gas - - - - 136,973
Materials and supplies - - 170 - 170
Asset from risk management
activities - - - - 132,650
Other - 101 170 - 4,802
---------------------------------------------------------------------
20 15,045 13,644 (1,754) 449,834
---------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning
trust funds - - - - -
Other 25,357 4 196,586 - 246,166
---------------------------------------------------------------------
25,357 4 196,586 - 246,166
---------------------------------------------------------------------
PROPERTY
Property, plant and equipment 1,155 493,140 40,712 - 544,087
Property under capital leases - - - - -
---------------------------------------------------------------------
1,155 493,140 40,712 - 544,087
---------------------------------------------------------------------
Less: accumulated depreciation
and amortization 167 252,531 8,689 - 265,678
---------------------------------------------------------------------
988 240,608 32,024 - 278,409
---------------------------------------------------------------------
Goodwill - - 42 - 8,405
---------------------------------------------------------------------
Regulatory Assets - - - - -
---------------------------------------------------------------------
OTHER ASSETS
Asset from risk management
activities - - - - 138,957
Other 3,860 1,805 12,236 (34) 18,693
---------------------------------------------------------------------
3,860 1,805 12,236 (34) 157,650
---------------------------------------------------------------------
30,225 257,461 254,530 (1,788) 1,140,464
=====================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable 5,030 23,190 13,647 (1,756) 177,591
Accrued interest - (4) 293 - 289
Dividends payable - - - - -
Accrued payroll - - - - -
Short-term borrowings - 150,902 - - 468,949
Income taxes (1,311) (53,544) (31,120) - (137,173)
General Taxes - 1,939 390 - 5,018
Current portion long-term debt - - - - -
Current portion capital leases - - - - -
Liability from risk management
activities - - - - 112,994
Other - 7,543 3,579 - 12,129
---------------------------------------------------------------------
3,719 130,027 (13,210) (1,756) 639,797
---------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes (7,266) (49,180) (4,148) - (100,683)
Capital leases - - - - -
Regulatory liabilities - - - - -
Unamortized Investment
tax credit - - - - -
Liabilities from risk
management activities - - - - 301,618
Other - - 750 - 12,719
---------------------------------------------------------------------
(7,266) (49,180) (3,399) - 213,653
---------------------------------------------------------------------
LONG-TERM DEBT, INCLUDING
CAPITAL LEASES - - - - 16,238
---------------------------------------------------------------------
PREFERRED SECURITIES OF
SUBSIDIARIES - - - - -
---------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 46,999 487,176 358,500 - 819,904
Retained earnings and other
comprehensive income (13,227) (310,562) (87,360) (31) (549,128)
---------------------------------------------------------------------
33,772 176,614 271,140 (31) 270,776
---------------------------------------------------------------------
30,225 257,461 254,531 (1,788) 1,140,464
=====================================================================
======================================================================================================
DTE Energy Enterprises
Gas Services
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
=====================================================================================================
COENERGY COENERGY COENERGY MCNIC GAS MCN POWER
CANADIAN TRADING SUPPLY STORAGE CONSOL.
------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2000 217 (45,293) 15,344 863 82,768
Net income (loss) 17 233 13,318 2,203 (188)
Dividends on common stock - - - - -
Repurchase and retirement
of common stock - - - - -
Other 4 (205,834) (2,968) 1,264 106
------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2001 238 (250,894) 25,694 4,330 82,686
========================================================================
------------------------------------------------------------------------
INT'L SER. MCNIC PIPELINE ELIMS & GAS SERV.
CONSOL. OIL & GAS CONSOL. RECLASSES CONSOL.
SERVICES
------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2000 1 (196,201) (20,881) - (163,182)
Net income (loss) (13,352) 9,033 (152,106) (31) (140,873)
Dividends on common stock - - - - -
Repurchase and retirement
of common stock - - - - -
Other 124 (123,394) 85,627 - (245,071)
------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2001 (13,227) (310,562) (87,360) (31) (549,126)
========================================================================
=====================================================================================================
DTE Energy Enterprises
MCNIC Pipeline & Processing
Consolidating Statement of Operations
For The Seven Months Ended December 31, 2001
(In Thousands)
===========================================================================================================================
PSC02 AMERICAN
EAST COAST COPANO MCNIC VECTOR PETRO C.E.
PIPELINE KCS MILLENNIUM COMPANIES SOURCE TEXAS
---------------------------------------------------------------------------
OPERATING REVENUES - - - - - -
---------------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - - - -
Gas - - - - - -
Operation and maintenance - - - - - -
Depreciation and
amortization 108 - - 6 - -
Taxes Other Than Income - - - - - -
---------------------------------------------------------------------------
Total Operating
Expenses 108 - - 6 - -
---------------------------------------------------------------------------
OPERATING INCOME (LOSS) (108) - - (6) - -
---------------------------------------------------------------------------
INTEREST EXPENSE
AND OTHER
Interest expense - - - - - -
Preferred stock
dividends of
subsidiary - - - - - -
Other - net 167 30,100 5,936 (691) 8,115 27,137
---------------------------------------------------------------------------
Total Interest
Expense and Other 167 30,100 5,936 (691) 8,115 27,137
---------------------------------------------------------------------------
INCOME BEFORE INCOME
TAXES (275) (30,100) (5,936) 685 (8,115) (27,137)
INCOME TAX PROVISION
(BENEFIT) (96) (10,535) (2,078) 248 (2,840) (9,498)
---------------------------------------------------------------------------
INCOME BEFORE
ACCOUNTING CHANGE (179) (19,565) (3,859) 436 (5,275) (17,639)
---------------------------------------------------------------------------
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE - - - - - -
---------------------------------------------------------------------------
NET INCOME (179) (19,565) (3,859) 436 (5,275) (17,639)
===========================================================================
--------------------------------------------------------------------------------------------
MOBILE COAL P&P OFFSHORE MICHIGAN MOBILE
BAY PROC FINES COMPANY P&P HOLDINGS BAY GATH. METHANOL
COMPANY CONSOL. PARENT COMPANY INC. COMPANY COMPANIES
--------------------------------------------------------------------------------------------
OPERATING REVENUES - - 91 - 5,170 - -
--------------------------------------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - - - - -
Gas - - - - - - -
Operation and maintenance - 5 2,076 586 1,171 32 -
Depreciation and
amortization - - 86 - 1,125 - -
Taxes Other Than Income - - (37) - 259 8 -
--------------------------------------------------------------------------------------------
Total Operating
Expenses - 5 2,125 586 2,555 40 -
--------------------------------------------------------------------------------------------
OPERATING INCOME (LOSS) - (5) (2,034) (586) 2,615 (40) -
--------------------------------------------------------------------------------------------
INTEREST EXPENSE
AND OTHER
Interest expense - - - - 1 - -
Preferred stock
dividends of
subsidiary - - - - - - -
Other - net 20,397 - 173,357 6,811 1,515 46,039 43,414
--------------------------------------------------------------------------------------------
Total Interest
Expense and Other 20,397 - 173,357 6,811 1,516 46,039 43,414
--------------------------------------------------------------------------------------------
INCOME BEFORE INCOME
TAXES (20,397) (5) (175,391) (7,397) 1,099 (46,079) (43,414)
INCOME TAX PROVISION
(BENEFIT) - (2) (23,285) (2,589) 387 (16,128) (15,195)
--------------------------------------------------------------------------------------------
INCOME BEFORE
ACCOUNTING CHANGE (20,397) (3) (152,106) (4,808) 712 (29,951) (28,219)
--------------------------------------------------------------------------------------------
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE - - - - - - -
--------------------------------------------------------------------------------------------
NET INCOME (20,397) (3) (152,106) (4,808) 712 (29,951) (28,219)
============================================================================================
---------------------------------------------------------------
MCNIC MOBILE P&P
RODEO KCI BAY NGL P&P COMPANIES
GATHERING COMPANIES COMPANIES ELIMS CONSOL.
---------------------------------------------------------------
OPERATING REVENUES - - - - 5,261
---------------------------------------------------------------
OPERATING EXPENSES
Fuel and purchased power - - - - -
Gas - - - - -
Operation and maintenance - - - - 3,870
Depreciation and
amortization - - - - 1,325
Taxes Other Than Income - - - - 230
---------------------------------------------------------------
Total Operating
Expenses - - - - 5,425
---------------------------------------------------------------
OPERATING INCOME (LOSS) - - - - (163)
---------------------------------------------------------------
INTEREST EXPENSE
AND OTHER
Interest expense - - - - 1
Preferred stock
dividends of
subsidiary - - - - -
Other - net 1,011 1,790 1,791 (132,319) 234,572
---------------------------------------------------------------
Total Interest
Expense and Other 1,011 1,790 1,791 (132,319) 234,573
---------------------------------------------------------------
INCOME BEFORE INCOME
TAXES (1,011) (1,790) (1,791) 132,319 (234,737)
INCOME TAX PROVISION
(BENEFIT) (393) (627) - - (82,630)
---------------------------------------------------------------
INCOME BEFORE
ACCOUNTING CHANGE (618) (1,164) (1,791) 132,319 (152,106)
---------------------------------------------------------------
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE - - - - -
---------------------------------------------------------------
NET INCOME (618) (1,164) (1,791) 132,319 (152,106)
===============================================================
===============================================================================================
DTE Energy Enterprises
MCNIC Pipeline & Processing
Consolidating Balance Sheet
December 31, 2001
(In Thousands)
=========================================================================================================================
EAST COAST COAPNO MCNIC VECTOR PSC02 PETRO AMERICAN
PIPELINE KCS MILLENNIUM COMPANIES SOURCE C.E. TEXAS
-----------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents - - - - - -
Restricted cash - - - - - -
Accounts receivable
Customer (less
allowance for
doubtful accounts) - - - - - -
Accrued unbilled revenues - - - - - -
Other - - - - - -
Inventories
Fuel and gas - - - - - -
Materials and supplies - - - - - -
Asset from risk
management activities - - - - - -
Other - - - - - -
-----------------------------------------------------------------------------
- - - - - -
-----------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning
trust funds - - - - - -
Other 31,443 - (95) 86,435 8,679 40,116
-----------------------------------------------------------------------------
31,443 - (95) 86,435 8,679 40,116
-----------------------------------------------------------------------------
PROPERTY
Property, plant and equipment 114 - 95 272 610 -
Property under capital leases - - - - - -
-----------------------------------------------------------------------------
114 - 95 272 610 -
-----------------------------------------------------------------------------
Less: accumulated
depreciation
and amortization 114 - - 6 50 -
-----------------------------------------------------------------------------
- - 95 266 560 -
-----------------------------------------------------------------------------
Goodwill - - - - - -
-----------------------------------------------------------------------------
Regulatory Assets - - - - - -
-----------------------------------------------------------------------------
OTHER ASSETS
Asset from risk
management activities - - - - - -
Other - - - - - -
-----------------------------------------------------------------------------
- - - - - -
-----------------------------------------------------------------------------
31,443 - - 86,701 9,239 40,116
=============================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable - - - - - 1,000
Accrued interest - - - - - -
Dividends payable - - - - - -
Accrued payroll - - - - - -
Short-term borrowings - - - - - -
Income taxes (2,320) 1,832 (6) (1,467) (468) (2,737)
General Taxes - - - - - -
Current portion
long-term debt - - - - - -
Current portion
capital leases - - - - - -
Liability from risk
management activities - - - - - -
Other - - - - 381 692
-----------------------------------------------------------------------------
(2,320) 1,832 (6) (1,467) (87) (1,045)
-----------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes 3,829 (1,832) (2,076) 1,528 (1,866) (3,837)
Capital leases - - - - - -
Regulatory liabilities - - - - - -
Unamortized Investment
tax credit - - - - - -
Liabilities from risk
management activities - - - - - -
Other - - - - - -
-----------------------------------------------------------------------------
3,829 (1,832) (2,076) 1,528 (1,866) (3,837)
-----------------------------------------------------------------------------
LONG-TERM DEBT,
INCLUDING CAPITAL LEASES - - - - - -
-----------------------------------------------------------------------------
PREFERRED SECURITIES
OF SUBSIDIARIES - - - - - -
-----------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 26,496 - 4,449 79,049 13,879 50,911
Retained earnings and
other comprehensive income 3,437 - (2,367) 7,590 (2,687) (5,914)
-----------------------------------------------------------------------------
29,933 - 2,082 86,639 11,192 44,998
-----------------------------------------------------------------------------
31,443 - - 86,701 9,239 40,116
=============================================================================
--------------------------------------------------------------------------------------------
MOBILE BAY COAL FINES P&P CO. JONAH OFFSHORE MICHIGAN MOBILE BAY
PROC. CO. CONSOL. PARENT PIPELINE P&P CO. HOLDINGS INC. GATH. CO.
--------------------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents - - 1,235 - - 1,777 -
Restricted cash - - - - - - -
Accounts receivable
Customer (less
allowance for
doubtful accounts) - - - - - 771 -
Accrued unbilled revenues - - - - - - -
Other - 48 8,996 - 33 443 -
Inventories
Fuel and gas - - - - - - -
Materials and supplies - - - - - 170 -
Asset from risk
management activities - - - - - - -
Other - - 106 - - - 63
--------------------------------------------------------------------------------------------
- 48 10,338 - 33 3,161 63
--------------------------------------------------------------------------------------------
INVESTMENTS
Nuclear decommissioning
trust funds - - - - - - -
Other - - 233,374 - 1,534 (36) -
--------------------------------------------------------------------------------------------
- - 233,374 - 1,534 (36) -
--------------------------------------------------------------------------------------------
PROPERTY
Property, plant and equipment - - 6,314 - - 33,051 -
Property under capital leases - - - - - - -
--------------------------------------------------------------------------------------------
- - 6,314 - - 33,051 -
--------------------------------------------------------------------------------------------
Less: accumulated
depreciation
and amortization - - 701 - - 7,782 -
--------------------------------------------------------------------------------------------
- - 5,613 - - 25,269 -
--------------------------------------------------------------------------------------------
Goodwill - - - - - 42 -
--------------------------------------------------------------------------------------------
Regulatory Assets - - - - - - -
--------------------------------------------------------------------------------------------
OTHER ASSETS
Asset from risk
management activities - - - - - - -
Other - - 2,992 - - - -
--------------------------------------------------------------------------------------------
- - 2,992 - - - -
--------------------------------------------------------------------------------------------
- 48 252,316 - 1,568 28,436 63
============================================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable - 2,797 10,274 - - (424) -
Accrued interest - - 293 - - - -
Dividends payable - - - - - - -
Accrued payroll - - - - - - -
Short-term borrowings - - - - - - -
Income taxes (662) 221 (17,953) 1,713 99 (364) (8,766)
General Taxes - - 7 - 20 325 39
Current portion
long-term debt - - - - - - -
Current portion
capital leases - - - - - - -
Liability from risk
management activities - - - - - - -
Other - - 508 - 100 - -
--------------------------------------------------------------------------------------------
(662) 3,018 (6,870) 1,713 219 (463) (8,727)
--------------------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes 811 - (11,556) (5) (1,084) 2,542 7,463
Capital leases - - - - - - -
Regulatory liabilities - - - - - - -
Unamortized Investment
tax credit - - - - - - -
Liabilities from risk
management activities - - - - - - -
Other - - - - - 750 -
--------------------------------------------------------------------------------------------
811 - (11,556) (5) (1,084) 3,291 7,463
--------------------------------------------------------------------------------------------
LONG-TERM DEBT,
INCLUDING CAPITAL LEASES - - - - - - -
--------------------------------------------------------------------------------------------
PREFERRED SECURITIES
OF SUBSIDIARIES - - - - - - -
--------------------------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common stock 23,026 3,782 358,510 (22,919) 6,290 3,634 17,099
Retained earnings and
other comprehensive income (23,175) (6,753) (87,767) 21,211 (3,857) 21,974 (15,771)
--------------------------------------------------------------------------------------------
(149) (2,971) 270,743 (1,708) 2,433 25,608 1,327
--------------------------------------------------------------------------------------------
- 48 252,316 - 1,568 28,436 64
============================================================================================
-----------------------------------------------------------------------------------
METHANOL MCNIC KCI MOBILE BAY ELIMS & PIPELINE
COMPANIES RODEO GATH. COMPANIES NGL CO. RECLASSES CONSOL.
-----------------------------------------------------------------------------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents - - - - - 3,012
Restricted cash - - - - - -
Accounts receivable
Customer (less
allowance for
doubtful accounts) - - - - - 771
Accrued unbilled revenues - - - - - -
Other - - - - - 9,521
Inventories
Fuel and gas - - - - - -
Materials and supplies - - - - - 170
Asset from risk
management activities - - - - - -
Other - - - - - 170
-----------------------------------------------------------------------------------
- - - - - 13,644
-----------------------------------------------------------------------------------
-
INVESTMENTS
Nuclear decommissioning
trust funds - - - - - -
Other 9,838 905 - - (215,607) 196,586
-----------------------------------------------------------------------------------
9,838 905 - - (215,607) 196,586
-----------------------------------------------------------------------------------
-
PROPERTY
Property, plant and equipment 256 - - - - 40,712
Property under capital leases - - - - - -
-----------------------------------------------------------------------------------
256 - - - - 40,712
-----------------------------------------------------------------------------------
Less: accumulated
depreciation
and amortization 36 - - - - 8,689
-----------------------------------------------------------------------------------
220 - - - - 32,024
-----------------------------------------------------------------------------------
Goodwill - - - - - 42
-----------------------------------------------------------------------------------
Regulatory Assets - - - - - -
-----------------------------------------------------------------------------------
OTHER ASSETS
Asset from risk
management activities - - - - - -
Other - - 8,812 - 431 12,236
-----------------------------------------------------------------------------------
- - 8,812 - 431 12,236
-----------------------------------------------------------------------------------
-
10,058 905 8,812 - (215,175) 254,530
===================================================================================
LIABILITIES
CURRENT LIABILITIES
Accounts payable - - - - - 13,647
Accrued interest - - - - - 293
Dividends payable - - - - - -
Accrued payroll - - - - - -
Short-term borrowings - - - - - -
Income taxes (2,801) 170 2,391 - (3) (31,120)
General Taxes - - - - - 390
Current portion
long-term debt - - - - - -
Current portion
capital leases - - - - - -
Liability from risk
management activities - - - - - -
Other 400 - 1,498 - - 3,579
-----------------------------------------------------------------------------------
(2,401) 170 3,889 - (3) (13,210)
-----------------------------------------------------------------------------------
OTHER LIABILITIES
Deferred income taxes 3,145 (11) (1,200) - - (4,148)
Capital leases - - - - - -
Regulatory liabilities - - - - - -
Unamortized Investment
tax credit - - - - - -
Liabilities from risk
management activities - - - - - -
Other - - - - - 750
-----------------------------------------------------------------------------------
3,145 (11) (1,200) - - (3,399)
-----------------------------------------------------------------------------------
-
LONG-TERM DEBT,
INCLUDING CAPITAL LEASES - - - - - -
-----------------------------------------------------------------------------------
PREFERRED SECURITIES
OF SUBSIDIARIES - - - - - -
-----------------------------------------------------------------------------------
-
SHAREHOLDERS' EQUITY
Common stock 25,244 578 4,733 1,033 (237,294) 358,500
Retained earnings and
other comprehensive income (15,930) 168 1,390 (1,033) 22,122 (87,360)
-----------------------------------------------------------------------------------
9,314 746 6,123 - (215,172) 271,140
-----------------------------------------------------------------------------------
10,058 905 8,812 - (215,175) 254,531
===================================================================================
===================================================================================================================
DTE Energy Enterprises
MCNIC Pipeline & Processing
Consolidating Statement of Retained Earnings
December 31, 2001
(In Thousands)
===============================================================================================================
EAST COAST COAPNO MCNIC VECTOR PSC02 PETRO AMERICAN
PIPELINE KCS MILLENNIUM COMPANIES SOURCE C.E. TEXAS
-----------------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2000 2,944 7,009 1,250 6,497 2,166 10,850
Net income (loss) (179) (19,565) (3,859) 436 (5,275) (17,639)
Dividends on common stock - - - - - -
Repurchase and retirement
of common stock - - - - - -
Other 672 12,556 242 657 422 875
-----------------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2001 3,437 - (2,367) 7,590 (2,687) (5,914)
===================================================================================
--------------------------------------------------------------------------------------------
MOBILE BAY COAL FINES P&P CO. JONAH OFFSHORE MICHIGAN MOBILE BAY
PROC. CO. CONSOL. PARENT PIPELINE P&P CO. HOLDINGS INC. GATH. CO.
--------------------------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2000 (1,840) (5,915) (20,881) 21,211 623 19,820 13,570
Net income (loss) (20,397) (3) (152,106) - (4,808) 712 (29,951)
Dividends on common stock - - - - - - -
Repurchase and retirement
of common stock - - - - - - -
Other (938) (835) 85,220 - 328 1,442 610
--------------------------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2001 (23,175) (6,753) (87,767) 21,211 (3,857) 21,974 (15,771)
============================================================================================
-------------------------------------------------------------------------------------
METHANOL MCNIC KCI MOBILE BAY ELIMS & PIPELINE
COMPANIES RODEO GATH. COMPANIES NGL CO. RECLASSES CONSOL.
-------------------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2000 12,758 665 (1,242) 769 (91,135) (20,881)
Net income (loss) (28,219) (618) (1,164) (1,791) 132,320 (152,106)
Dividends on common stock - - - - - -
Repurchase and retirement
of common stock - - - - - -
Other (469) 121 3,796 (11) (19,063) 85,625
-------------------------------------------------------------------------------------
Retained earnings (deficit)
at December 31, 2001 (15,930) 168 1,390 (1,033) 22,122 (87,362)
=====================================================================================
===================================================================================================================
EXHIBIT B
An organizational chart showing the relationship of each EWG and foreign utility
company to associate companies in the holding company system.
An organizational chart of DTE River Rouge No. 1, L.L.C.
DTE ENERGY COMPANY
DTE ENERGY RESOURCES, INC.
DTE GENERATION, INC.
DTE RIVER ROUGE NO. 1, L.L.C.
An organizational chart of DTE Georgetown, L.P.
DTE ENERGY COMPANY
DTE ENERGY RESOURCES, INC.
DTE ENERGY SERVICES
DTE GEORGETOWN HOLDINGS, INC.
DTE GEORGETOWN, L.P.
An organizational chart of Metro Energy, L.L.C.
DTE ENERGY COMPANY
DTE ENTERPRISES, INC.
MCN ENERGY ENTERPRISES INC.
MCN POWER COMPANY
METRO ENERGY, L.L.C.
An organizational chart of Bhote Koshi Power Company Private Limited.
DTE ENERGY COMPANY
DTE ENTERPRISES, INC.
MCN ENERGY ENTERPRISES INC.
MCN INTERNATIONAL CORPORATION
MCNIC NEPAL LIMITED OF GRAND CAYMAN
PANDA BHOTE KOSHI
PANDA OF NEPAL
BHOTE KOSHI POWER COMPANY PRIVATE LIMITED