8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________

FORM 8-K

_____________________________

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 24, 2012

Commission File Number	Exact Name of Registrant as Specified in its Charter, State of Incorporation, Address of Principal Executive Offices and Telephone Number	IRS Employer Identification No.
1-11607	DTE Energy Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-3217752
1-2198	The Detroit Edison Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-0478650

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

DTE Energy Company (DTE Energy) is furnishing the Securities and Exchange Commission (SEC) with its earnings release issued October 24, 2012, announcing financial results for the quarter ended September 30, 2012. Copies of the earnings release and the financial information distributed for media and investor relations communications are furnished as Exhibits 99.1 and 99.2 and incorporated herein by reference. In its earnings release and the slide presentation discussed below, DTE Energy increased its 2012 operating earnings per share guidance to $3.80-$4.00 per share.

Item 7.01.Regulation FD Disclosure.

DTE Energy is furnishing the SEC with its slide presentation issued October 24, 2012. A copy of the slide presentation is furnished as Exhibit 99.3 and incorporated herein by reference.

In its earnings release, slide presentation and this filing, DTE Energy discusses 2012 operating earnings guidance. It is likely that certain items that impact the company's 2012 reported results will be excluded from operating results. Reconciliations to the comparable 2012 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 and 99.3, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

Item 9.01.		Financial Statements and Exhibits.
(d)	Exhibits
	99.1	Earnings Release of DTE Energy Company dated October 24, 2012.
	99.2	Financial Information Distributed for Media and Investor Relations Communications dated October 24, 2012.
	99.3	Slide Presentation of DTE Energy Company dated October 24, 2012.

Forward-Looking Statements:

This Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the “Forward-Looking Statements” section in DTE Energy's and The Detroit Edison Company's (Detroit Edison) 2011 Forms 10-K and 2012 Forms 10-Q (which sections are incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and Detroit Edison that discuss important factors that could cause DTE Energy's and Detroit Edison's actual results to differ materially. DTE Energy and Detroit Edison expressly disclaim any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date: October 24, 2012
	DTE ENERGY COMPANY (Registrant)
	/s/ PETER B. OLEKSIAK Peter B. Oleksiak Senior Vice President

THE DETROIT EDISON COMPANY

(Registrant)

/s/ PETER B. OLEKSIAK

Peter B. Oleksiak

Senior Vice President

EXHIBIT INDEX

Exhibit Number	Description
99.1	Earnings Release of DTE Energy Company dated October 24, 2012.
99.2	Financial Information Distributed for Media and Investor Relations Communications dated October 24, 2012.
99.3	Slide Presentation of DTE Energy Company dated October 24, 2012.

EX-99.1

Exhibit 99.1

October 24, 2012

DTE Energy reports third quarter 2012 results; increases guidance

DETROIT - DTE Energy (NYSE:DTE) today reported third quarter 2012 earnings of $227 million, or $1.31 per diluted share, compared with $183 million, or $1.07 per diluted share in 2011. Reported earnings increased primarily due to warm weather at Detroit Edison; improved results at MichCon and growth in reduced emissions fuel at Power & Industrial projects. Those gains were partially offset by lower earnings at Energy Trading.

Operating earnings for the third quarter 2012 were $227 million, or $1.31 per diluted share, compared with 2011 operating earnings of $183 million, or $1.07 per diluted share. Operating earnings exclude non-recurring items and discontinued operations.

“We are pleased with what we've accomplished so far this year,” said Gerard M. Anderson, DTE Energy chairman, president and CEO. “Financial results are solid, operational metrics are on target, and I'm very happy to report that recent survey results show improved customer satisfaction.”

Recent J. D. Power and Associates studies showed DTE Energy's gas utility ranked third among 17 Midwestern gas utilities for customer satisfaction, and the electric utility's customer satisfaction ranking has also increased over the past year. “Weather events and storms play a major role in power reliability,” Anderson said. “In a summer that included record-setting heat and intense storms, the extra efforts of our employees to deliver quality customer service are being recognized and appreciated.”

Anderson also commented on Proposal 3 (often referred to as “25 x 25”), a ballot initiative designed to amend Michigan's constitution and require that the state's utilities generate 25 percent of their electricity from renewable sources by 2025. In 2008, the Michigan Legislature passed bipartisan, comprehensive energy legislation that included a standard for Michigan to generate 10 percent of its electricity from renewable sources by 2015.

“DTE Energy fully supports the current renewable standard of 10 percent, and we are on track to meet it,” Anderson said. “But we are extremely concerned about the negative financial impact that Proposal 3 would have on our customers. Proponents of this ballot initiative are seeking to dictate Michigan's energy policy by circumventing the state's legislative process. Our constitution should not be used to establish detailed industrial policy, including energy policy.”

Anderson suggested that concerned voters visit the Clean Affordable Renewable Energy (C.A.R.E.) website for additional information at www.careformich.com.

Reported earnings for the first nine months ended Sept. 30, 2012 were $529 million or $3.08 per diluted share, versus $561 million, or $3.30 per diluted share in 2011. Year-to-date operating earnings were $529 million, or $3.08 per diluted share, compared with $482 million, or $2.83 per diluted share in 2011. Reconciliations of reported earnings to operating earnings are at the end of this news release.

Outlook for 2012

DTE Energy increased its 2012 operating earnings guidance of $3.65 to $3.95 per diluted share to $3.80 to $4.00.

“Above average temperatures during the summer increased demand and revenues at our electric utility, more than offsetting the winter's warm weather impact on our gas utility,” said David E. Meador, DTE Energy executive vice president and chief financial officer. “We are revising guidance to reflect these weather influences, as well as other economic developments that have impacted our year-to-date earnings.”

Meador also commented on DTE Energy's recent announcement to increase 2012 planned spending with Michigan-based companies from $575 million to $700 million by December 31, 2012. The company spent $558 million with Michigan-based suppliers through September 2012, compared to $401 million during the same period a year ago. “I'm proud of the way our company has embraced the state's Pure Michigan Business Connect initiative. DTE Energy's Michigan spend represents more than 6,800 full-time jobs over the last two years as a result of our commitment to be a force for growth and prosperity in our state,” said Meador.

This earnings announcement, as well as a package of slides and supplemental information, is available at www.dteenergy.com.

DTE Energy plans to conduct a conference call with the investment community hosted by Meador at 9 a.m. EDT today, to discuss third quarter 2012 earnings results. Investors, the news media and the public may listen to a live internet broadcast of the call at www.dteenergy.com/investors. The telephone dial-in numbers are US and Canada toll free: (888) 244-2417 or International toll: (913) 312-1463. The passcode is 5922498. The internet broadcast will be archived on the company's website. An audio replay of the call will be available from noon today to Nov. 7. To access the replay, dial (888) 203-1112 or (719) 457-0820 and enter passcode 5922498.

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, MichCon, a natural gas utility serving 1.2 million customers in Michigan and other non-utility, energy businesses focused on gas storage and pipelines, unconventional gas production, power and industrial projects, and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.

Use of Operating Earnings Information - DTE Energy management believes that operating earnings provide a more meaningful representation of the company's earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors.

In this release, DTE Energy discusses 2012 operating earnings guidance. It is likely that certain items that impact the company's 2012 reported results will be excluded from operating results. Reconciliations to the comparable 2012 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

The information contained herein is as of the date of this release. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this release as a result of new information or future events or developments. Words such as “anticipate,” “believe,” “expect,” “projected” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various assumptions, risks and uncertainties. This release contains forward-looking statements about DTE Energy's financial results and estimates of future prospects, and actual results may differ materially.

Many factors may impact forward-looking statements including, but not limited to, the following: impact of regulation by the FERC, MPSC, NRC and other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals or new legislation; impact of electric and gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation, increased thefts of electricity and gas and high levels of uncollectible accounts receivable; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental and regulatory risks associated with ownership and operation of nuclear facilities; changes in the cost and availability of coal and other raw materials, purchased power and natural gas; volatility in the short-term natural gas storage markets impacting third-party storage revenues; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; the potential for increased costs or delays in completion of significant construction projects; the uncertainties of successful exploration of unconventional gas and oil resources and challenges in estimating gas and oil reserves with certainty; changes in and application of federal, state and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings and audits; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of

competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy and other business issues; binding arbitration, litigation and related appeals; and the risks discussed in our public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause our results to differ materially from those contained in any forward-looking statement. Any forward-looking statements refer only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This presentation should also be read in conjunction with the “Forward-Looking Statements” sections in each of DTE Energy's and Detroit Edison's 2011 Forms 10-K and 10-Q (which sections are incorporated herein by reference), and in conjunction with other SEC reports filed by DTE Energy and Detroit Edison.

# # #

For further information, members of the media may call:

Scott Simons (313) 235-8808

Len Singer (313) 235-8809

Analysts, for further information call:

Mark Rolling (313) 235-7663

Benny Riggi (313) 235-3208

DTE Energy Company
Consolidated Statements of Operations (Unaudited)
	Three Months Ended						Nine Months Ended
	September 30						September 30
(in Millions, Except per Share Amounts)	2012			2011			2012			2011
Operating Revenues	$	2,206		$	2,265		$	6,480		$	6,724
Operating Expenses
Fuel, purchased power and gas	761			866			2,347			2,708
Operation and maintenance	692			670			2,126			1,948
Depreciation, depletion and amortization	265			259			747			752
Taxes other than income	80			79			254			239
Asset (gains) and losses, reserves and impairments, net	(2		)	(8		)	(10		)	—
	1,796			1,866			5,464			5,647
Operating Income	410			399			1,016			1,077
Other (Income) and Deductions
Interest expense	112			120			334			370
Interest income	(2		)	(3		)	(7		)	(8		)
Other income	(47		)	(20		)	(125		)	(59		)
Other expenses	9			16			28			31
	72			113			230			334
Income Before Income Taxes	338			286			786			743
Income Tax Expense	108			101			251			180
Net Income	230			185			535			563
Less: Net Income Attributable to Noncontrolling Interests	3			2			6			2
Net Income Attributable to DTE Energy Company	$	227		$	183		$	529		$	561
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	1.32		$	1.08		$	3.09		$	3.31
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	1.31		$	1.07		$	3.08		$	3.30
Weighted Average Common Shares Outstanding
Basic	172			169			171			169
Diluted	172			170			171			170
Dividends Declared per Common Share	$	0.62		$	0.59		$	1.80		$	1.74

DTE Energy Company
Segment Net Income (Unaudited)
	Three Months Ended September 30
	2012								2011
(in Millions)	Reported Earnings			Adjustments		Operating Earnings			Reported Earnings			Adjustments		Operating Earnings
Electric Utility	$	194		$	—	$	194		$	157		$	—	$	157
Gas Utility	4			—		4			(11		)	—		(11		)
Non-utility Operations
Gas Storage and Pipelines	14			—		14			13			—		13
Unconventional Gas Production	—			—		—			(2		)	—		(2		)
Power and Industrial Projects	22			—		22			12			—		12
Energy Trading	1			—		1			22			—		22
Total Non-utility operations	37			—		37			45			—		45
Corporate and Other	(8		)	—		(8		)	(8		)	—		(8		)
Net Income Attributable to DTE Energy Company	$	227		$	—	$	227		$	183		$	—	$	183

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited)
	Three Months Ended September 30
	2012								2011
	Reported Earnings			Adjustments		Operating Earnings			Reported Earnings			Adjustments		Operating Earnings
Electric Utility	$	1.13		$	—	$	1.13		$	0.92		$	—	$	0.92
Gas Utility	0.02			—		0.02			(0.06		)	—		(0.06		)
Non-utility Operations
Gas Storage and Pipelines	0.08			—		0.08			0.08			—		0.08
Unconventional Gas Production	—			—		—			(0.01		)	—		(0.01		)
Power and Industrial Projects	0.13			—		0.13			0.07			—		0.07
Energy Trading	0.01			—		0.01			0.13			—		0.13
Total Non-utility operations	0.22			—		0.22			0.27			—		0.27
Corporate and Other	(0.06		)	—		(0.06		)	(0.06		)	—		(0.06		)
Net Income Attributable to DTE Energy Company	$	1.31		$	—	$	1.31		$	1.07		$	—	$	1.07

DTE Energy Company
Segment Net Income (Unaudited)
	Nine Months Ended September 30
	2012								2011
(in Millions)	Reported Earnings			Adjustments		Operating Earnings			Reported Earnings			Adjustments				Operating Earnings
Electric Utility	$	417		$	—	$	417		$	345		$	9		A	$	354
Gas Utility	60			—		60			69			—				69
Non-utility Operations
Gas Storage and Pipelines	48			—		48			42			—				42
Unconventional Gas Production	(3		)	—		(3		)	(5		)	—				(5		)
Power and Industrial Projects	40			—		40			27			—				27
Energy Trading	3			—		3			36			—				36
Total Non-utility operations	88			—		88			100			—				100
Corporate and Other	(36		)	—		(36		)	47			(88		)	B	(41		)
Net Income Attributable to DTE Energy Company	$	529		$	—	$	529		$	561		$	(79	)		$	482
Adjustments key
A) Fermi asset retirement obligation
B) Income tax adjustment due to enactment of Michigan Corporate Income Tax in May 2011

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited)
	Nine Months Ended September 30
	2012								2011
	Reported Earnings			Adjustments		Operating Earnings			Reported Earnings			Adjustments				Operating Earnings
Electric Utility	$	2.43		$	—	$	2.43		$	2.03		$	0.05		A	$	2.08
Gas Utility	0.35			—		0.35			0.41			—				0.41
Non-utility Operations
Gas Storage and Pipelines	0.28			—		0.28			0.25			—				0.25
Unconventional Gas Production	(0.02		)	—		(0.02		)	(0.03		)	—				(0.03		)
Power and Industrial Projects	0.23			—		0.23			0.16			—				0.16
Energy Trading	0.02			—		0.02			0.21			—				0.21
Total Non-utility operations	0.51			—		0.51			0.59			—				0.59
Corporate and Other	(0.21		)	—		(0.21		)	0.27			(0.52		)	B	(0.25		)
Net Income Attributable to DTE Energy Company	$	3.08		$	—	$	3.08		$	3.30		$	(0.47	)		$	2.83
Adjustments key
A) Fermi asset retirement obligation
B) Income tax adjustment due to enactment of Michigan Corporate Income Tax in May 2011

EX-99.2

Exhibit 99.2

DTE ENERGY COMPANY

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

	September 30			December 31
	2012			2011
(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$	59		$	68
Restricted cash, principally Securitization	69			147
Accounts receivable (less allowance for doubtful accounts of $150 and $162, respectively)
Customer	1,164			1,317
Other	71			90
Inventories
Fuel and gas	554			572
Materials and supplies	231			219
Deferred income taxes	58			51
Derivative assets	123			222
Regulatory assets	157			314
Other	244			196
	2,730			3,196
Investments
Nuclear decommissioning trust funds	1,029			937
Other	537			525
	1,566			1,462
Property
Property, plant and equipment	23,442			22,541
Less accumulated depreciation, depletion and amortization	(9,038		)	(8,795		)
	14,404			13,746
Other Assets
Goodwill	2,020			2,020
Regulatory assets	4,299			4,539
Securitized regulatory assets	456			577
Intangible assets	67			73
Notes receivable	114			123
Derivative assets	63			74
Other	190			199
	7,209			7,605
Total Assets	$	25,909		$	26,009

DTE ENERGY COMPANY

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED) — (Continued)

	September 30			December 31
	2012			2011
(In millions, except shares)
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	724		$	782
Accrued interest	122			95
Dividends payable	107			99
Short-term borrowings	98			419
Current portion long-term debt, including capital leases	633			526
Derivative liabilities	146			158
Other	479			549
	2,309			2,628
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other	6,526			6,405
Securitization bonds	302			479
Junior subordinated debentures	280			280
Capital lease obligations	12			23
	7,120			7,187
Other Liabilities
Deferred income taxes	3,273			3,116
Regulatory liabilities	990			1,019
Asset retirement obligations	1,683			1,591
Unamortized investment tax credit	58			65
Derivative liabilities	30			89
Accrued pension liability	1,216			1,298
Accrued postretirement liability	1,341			1,484
Nuclear decommissioning	156			148
Other	302			331
	9,049			9,141
Commitments and Contingencies
Equity
Common stock, without par value, 400,000,000 shares authorized, 172,073,378 and 169,247,282 shares issued and outstanding, respectively	3,567			3,417
Retained earnings	3,969			3,750
Accumulated other comprehensive loss	(147		)	(158		)
Total DTE Energy Company Equity	7,389			7,009
Noncontrolling interests	42			44
Total Equity	7,431			7,053
Total Liabilities and Equity	$	25,909		$	26,009

DTE ENERGY COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	Nine Months Ended
	September 30
	2012			2011
(In millions)
Operating Activities
Net income	$	535		$	563
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization	747			752
Deferred income taxes	96			123
Asset (gains) and losses, reserves and impairments, net	(7		)	—
Changes in assets and liabilities, exclusive of changes shown separately	358			48
Net cash from operating activities	1,729			1,486
Investing Activities
Plant and equipment expenditures — utility	(1,008		)	(968		)
Plant and equipment expenditures — non-utility	(214		)	(61		)
Proceeds from sale of assets	20			13
Restricted cash for debt redemption, principally Securitization	55			47
Proceeds from sale of nuclear decommissioning trust fund assets	48			69
Investment in nuclear decommissioning trust funds	(61		)	(97		)
Other	(24		)	(55		)
Net cash used for investing activities	(1,184		)	(1,052		)
Financing Activities
Issuance of long-term debt	495			908
Redemption of long-term debt	(447		)	(1,161		)
Short-term borrowings, net	(321		)	126
Issuance of common stock	29			—
Repurchase of common stock	—			(18		)
Dividends on common stock	(300		)	(289		)
Other	(10		)	(19		)
Net cash used for financing activities	(554		)	(453		)
Net Decrease in Cash and Cash Equivalents	(9		)	(19		)
Cash and Cash Equivalents at Beginning of Period	68			65
Cash and Cash Equivalents at End of Period	$	59		$	46

THE DETROIT EDISON COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Three Months Ended						Nine Months Ended
	September 30						September 30
(In millions)	2012			2011			2012			2011
Operating Revenues	$	1,542		$	1,517		$	4,029		$	3,949
Operating Expenses
Fuel and purchased power	543			553			1,348			1,348
Operation and maintenance	337			352			1,026			1,012
Depreciation and amortization	219			215			607			619
Taxes other than income	65			63			193			182
Asset (gains) and losses, net	—			(1		)	(1		)	13
	1,164			1,182			3,173			3,174
Operating Income	378			335			856			775
Other (Income) and Deductions
Interest expense	70			74			204			218
Other income	(14		)	(9		)	(41		)	(30		)
Other expenses	12			14			27			26
	68			79			190			214
Income Before Income Taxes	310			256			666			561
Income Tax Expense	115			98			247			214
Net Income	$	195		$	158		$	419		$	347

MICHIGAN CONSOLIDATED GAS COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Three Months Ended						Nine Months Ended
	September 30						September 30
(In millions)	2012			2011			2012			2011
Operating Revenues	$	157		$	156		$	867		$	1,074
Operating Expenses
Cost of gas	20			35			350			526
Operation and maintenance	88			91			282			294
Depreciation and amortization	23			22			69			66
Taxes other than income	10			11			41			42
	141			159			742			928
Operating Income (Loss)	16			(3		)	125			146
Other (Income) and Deductions
Interest expense	14			16			43			47
Interest income	(2		)	(1		)	(5		)	(5		)
Other income	(2		)	(2		)	(7		)	(5		)
Other expenses	1			3			3			4
	11			16			34			41
Income (Loss) Before Income Taxes	5			(19		)	91			105
Income Tax Expense (Benefit)	2			(8		)	32			37
Net Income (Loss)	$	3		$	(11	)	$	59		$	68

DTE Energy Debt/Equity Calculation

As of September 30, 2012

($ millions)

Short-term borrowings	$	98
Current portion of long-term debt, including capital leases	633
Mortgage bonds, notes and other	6,526
Securitization bonds, excluding current portion	302
Capital lease obligations	12
Other adjustments	276
less Securitization bonds, including current portion	(479		)
50% Junior Subordinated Debentures	140
Total debt	7,508
50% Junior Subordinated Debentures	140
Total preferred/ other	140
Equity	7,389
Total capitalization	$	15,037
Debt	50		%
Junior Subordinated Debentures	1		%
Common shareholders' equity	49		%
Total	100		%

Sales Analysis - Q3 2012
Electric Sales - Detroit Edison Service Area (GWh)					Electric Billings - Detroit Edison Service Area (000s)
	Q3 2012	Q3 2011	% Change			Q3 2012		Q3 2011		% Change
Residential	4,893	4,863	1	%	Residential	$	736,043	$	665,301	11	%
Commercial	4,601	4,759	(3	)%	Commercial	515,457		478,457		8	%
Industrial	2,707	2,606	4	%	Industrial	206,142		186,946		10	%
Other (a)	238	252	(6	)%	Other (b)	26,907		50,035		(46	)%
	12,439	12,480	0	%		$	1,484,549	$	1,380,739	8	%
Choice	1,372	1,394	(2	)%	Choice	23,684		26,160		(9	)%
TOTAL SALES	13,811	13,874	0	%	TOTAL	$	1,508,233	$	1,406,899	7	%
________________					________________
(a) 2011 excludes 530 GWh related to a wholesale contract terminated Dec 2011					(b) 2011 includes $23,579k related to a wholesale contract terminated Dec 2011

Gas Sales - MichCon Service Area (MMcf)					Gas Billings - MichCon Service Area (000s)
	Q3 2012	Q3 2011	% Change			Q3 2012		Q3 2011		% Change
Residential	5,943	7,123	(17	)%	Residential	$	76,382	$	85,932	(11	)%
Commercial	1,250	1,531	(18	)%	Commercial	14,532		17,442		(17	)%
Industrial	90	110	(18	)%	Industrial	716		886		(19	)%
	7,283	8,764	(17	)%		$	91,630	$	104,260	(12	)%
End User Transportation*	32,991	25,722	28	%	End User Transportation*	33,733		30,332		11	%
TOTAL SALES	40,274	34,486	17	%	TOTAL	$	125,363	$	134,592	(7	)%
________________					________________
* Includes choice customers					* Includes choice customers

Weather
Cooling Degree Days				Heating Degree Days
Detroit Edison service territory				MichCon service territory
	Q3 2012	Q3 2011	% Change		Q3 2012	Q3 2011	% Change
Actuals	768	793	(3)%	Actuals	144	142	1%
Normal	537	537		Normal	125	128
Deviation from normal	43%	48%		Deviation from normal	15%	11%

Earnings Impact of Weather
Variance from normal weather (millions, after-tax)
	Q3 2012		Q3 2011
Detroit Edison*	$	40	$	—
MichCon	1		1
________________
* Pre 2012 Detroit Edison earnings not affected by weather due to RDM mechanism

Sales Analysis - YTD September 30, 2012
Electric Sales - Detroit Edison Service Area (GWh)					Electric Billings - Detroit Edison Service Area (000s)
	YTD 2012	YTD 2011	% Change			YTD 2012		YTD 2011		% Change
Residential	12,180	12,358	(1	)%	Residential	$	1,823,316	$	1,679,205	9	%
Commercial	12,734	12,750	0	%	Commercial	1,435,902		1,283,431		12	%
Industrial	7,645	7,353	4	%	Industrial	596,550		520,634		15	%
Other (a)	717	771	(7	)%	Other (b)	79,710		148,199		(46	)%
	33,276	33,232	0	%		$	3,935,478	$	3,631,469	8	%
Choice	3,938	4,104	(4	)%	Choice	68,309		77,671		(12	)%
TOTAL SALES	37,214	37,336	0	%	TOTAL	$	4,003,787	$	3,709,140	8	%
________________					________________
(a) 2011 excludes 1,572 GWh related to a wholesale contract terminated Dec 2011					(b) 2011 includes $69,521k related to a wholesale contract terminated Dec 2011

Gas Sales - MichCon Service Area (MMcf)					Gas Billings - MichCon Service Area (000s)
	YTD 2012	YTD 2011	% Change			YTD 2012		YTD 2011		% Change
Residential	54,005	68,913	(22	)%	Residential	$	516,496	$	677,691	(24	)%
Commercial	12,296	17,204	(29	)%	Commercial	110,741		162,262		(32	)%
Industrial	719	613	17	%	Industrial	5,676		5,105		11	%
	67,020	86,730	(23	)%		$	632,913	$	845,058	(25	)%
End User Transportation*	114,808	104,788	10	%	End User Transportation*	146,496		154,747		(5	)%
TOTAL SALES	181,828	191,518	(5	)%	TOTAL	$	779,409	$	999,805	(22	)%
________________					________________
* Includes choice customers					* Includes choice customers

Weather
Cooling Degree Days				Heating Degree Days
Detroit Edison service territory				MichCon service territory
	YTD 2012	YTD 2011	% Change		YTD 2012	YTD 2011	% Change
Actuals	1,114	1,035	8%	Actuals	3,322	4,416	(25)%
Normal	730	730		Normal	4,131	4,144
Deviation from normal	53%	42%		Deviation from normal	(20)%	7%

Earnings Impact of Weather
Variance from normal weather (millions, after-tax)
	YTD 2012			YTD 2011
Detroit Edison*	$	50		$	—
MichCon	(25		)	11
________________
* Pre 2012 Detroit Edison earnings not affected by weather due to RDM mechanism

Detroit Edison Temperature Normal Sales Analysis - September 30, 2012
Temperature Normal Electric Sales - Detroit Edison Service Area (GWh)					Temperature Normal Electric Sales - Detroit Edison Service Area (Includes Electric Choice) (GWh)
	YTD 2012	YTD 2011	% Change			YTD 2012	YTD 2011	% Change
Residential	11,478	11,484	0	%	Residential	11,479	11,485	0	%
Commercial	12,331	12,431	(1	)%	Commercial	14,621	14,915	(2	)%
Industrial	7,603	7,320	4	%	Industrial	9,163	8,872	3	%
Other (a)	717	771	(7	)%	Other (a)	717	771	(7	)%
	32,129	32,006	0	%		35,980	36,043	0	%
Choice	3,851	4,036	(5	)%
TOTAL SALES	35,980	36,042	0	%
________________
(a) 2011 excludes 1,572 GWh related to a wholesale contract terminated Dec 2011

EX-99.3

3rd Quarter 2012 Earnings Conference Call October 24, 2012 Exhibit 99.3

Safe Harbor Statement The information contained herein is as of the date of this presentation. Many factors may impact forward-looking statements including, but not limited to, the following: impact of regulation by the FERC, MPSC, NRC and other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals or new legislation; impact of electric and gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation, increased thefts of electricity and gas and high levels of uncollectible accounts receivable; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental and regulatory risks associated with ownership and operation of nuclear facilities; changes in the cost and availability of coal and other raw materials, purchased power and natural gas; volatility in the short-term natural gas storage markets impacting third-party storage revenues; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; the potential for increased costs or delays in completion of significant construction projects; the uncertainties of successful exploration of unconventional gas and oil resources and challenges in estimating gas and oil reserves with certainty; changes in and application of federal, state and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings and audits; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy and other business issues; binding arbitration, litigation and related appeals; and the risks discussed in our public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause our results to differ materially from those contained in any forward-looking statement. Any forward-looking statements refer only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This presentation should also be read in conjunction with the “Forward-Looking Statements” sections in each of DTE Energy’s and Detroit Edison’s 2011 Forms 10-K and 2012 10-Q (which sections are incorporated herein by reference), and in conjunction with other SEC reports filed by DTE Energy and Detroit Edison. Cautionary Note – The Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation such as "probable reserves" that the SEC's guidelines strictly prohibit us from including in filings with the SEC. You are urged to consider closely the disclosure in DTE Energy’s 2011 Form 10-K, File No. 1-11607, available from our offices or from our website at www.dteenergy.com. You can also obtain this Form from the SEC by accessing its website at www.sec.gov or by calling 1-800-SEC-0330. 2

3 Participants • Dave Meador, Executive Vice President and CFO • Peter Oleksiak, Senior Vice President of Finance • Daniel Brudzynski, Vice President and Treasurer • Mark Rolling, Director of Investor Relations

4 • Overview • Third Quarter 2012 Earnings Results • Cash Flow and Capital Expenditures • Summary

Investment Thesis DTE Energy has a plan it believes will provide 5% - 6% long-term operating EPS growth, an attractive dividend yield and a strong balance sheet – Utility growth plan driven by mandated investments – Constructive regulatory structure and continued cost savings enable utilities to earn their authorized returns – Plans in place to achieve operational excellence and customer satisfaction that are distinctive in our industry, with a focus on customer affordability – Meaningful, low-risk growth opportunities in non- utility businesses continue to provide diversity in earnings and geography 5%-6% Average Annual EPS Growth Attractive Dividend 5

Overview 6 * Reconciliation to GAAP reported earnings included in the appendix DTE Energy 3Q 2012 operating earnings per share* of $1.31 vs. $1.07 in 3Q 2011; increasing 2012 operating earnings guidance to $3.80 - $4.00 – Detroit Edison results improved year over year due to warm weather with no decoupling in 2012 – MichCon earnings improved due to higher margin and lower O&M costs – Power & Industrial Projects results up due to reduced emissions fuel (REF) contribution – Energy Trading results driven by fewer market opportunities in 3Q 2012 Balance sheet remains strong; on pace to reach 2012 targets – Generated $1.7 billion in cash from operations YTD 2012; raising cash flow guidance – Targeting completion of Barnett monetization process by year end Growth investments on track – $250 million investment in Thumb Wind Parks (110 MW) in service 4Q 2012 – Bluestone lateral and gathering construction underway; in service 4Q 2012 – NEXUS Gas Transmission project announced; open season through November 2012 – Advanced discussions on remaining two REF locations – Closed on 12 of 14 on-site energy projects at Power & Industrial Projects

Regulatory Update 7 MichCon Detroit Edison Application to defer $127 million gain from elimination of revenue decoupling mechanism (RDM) was approved September 2012 • Amortize to income in 2014 • Along with other cost saving measures, it helps defer increase in base rates to 2015 Rate case filed April 2012 for $77 million • Proposed infrastructure recovery mechanism for main renewal, meter move-out and pipeline integrity capital spending • Timeline – Self-implement: November 2012 (testimony filed September 2012 for up to $34 million) – Proposal for decision: February 2013 – Final order: April 2013

YTD Actual 8 2012 Operating Earnings* Guidance (millions, except EPS) Prior Guidance * Reconciliation to GAAP reported earnings included in the appendix Revised Guidance Guidance Drivers Detroit Edison $417 $438 - $448 $480 - $490 MichCon 60 110 - 115 110 - 115 Gas Storage & Pipelines 48 57 - 60 60 Unconventional Gas Production (3) 0 0 Power & Industrial Projects 40 45 - 55 48 - 52 Energy Trading 3 30 - 50 10 - 25 Corporate & Other (36) (54) (54) DTE Energy $529 $626 - $674 $654 - $688 Operating EPS $3.08 $3.65 - $3.95 $3.80 - $4.00 Avg. Shares Outstanding 171 171 172 Increasing guidance midpoint to $3.90 • Increasing Detroit Edison guidance due to weather favorability partially offset by reinvestment O&M • One time actions at MichCon offset 1Q unfavorable weather • Stronger storage and transportation revenue at Gas Storage & Pipelines • Lower economic performance at Energy Trading    

9 • Overview • Third Quarter 2012 Earnings Results • Cash Flow and Capital Expenditures • Summary

Third Quarter 2012 Operating Earnings Per Share* Detroit Edison $1.13 Unconventional Gas Production $0.00 Non-Utility $0.22 Gas Storage & Pipelines $0.08 Corporate & Other ($0.06) MichCon $0.02 $1.31 Power & Industrial Projects $0.13 * Reconciliation to GAAP reported earnings included in the appendix Energy Trading $0.01 10

11 Third Quarter 2012 Operating Earnings Variance * Reconciliation to GAAP reported earnings included in the appendix Operating Earnings* ($ millions, except EPS) Drivers Detroit Edison • Warm weather absent RDM in 2012 MichCon • Higher transportation and storage revenue, lower lost gas expense and lower O&M Non-Utility • Gas Storage & Pipelines due to higher storage and transportation revenue • Unconventional Gas Production due to higher oil and gas volumes • Power & Industrial Projects driven by REF growth • Energy Trading results driven by unique trading opportunities in 2011, not repeated in 2012 3Q 2011 3Q 2012 Change Detroit Edison 157$ 194$ 37$ MichCon (11) 4 15 Gas Storage & Pipelines 13 14 1 Unconventional Gas Production (2) - 2 Power & Industrial Projects 12 22 10 Energy Trading 22 1 (21) Corporate & Other (8) (8) - DTE Energy 183$ 227$ 44$ Operating EPS 1.07$ 1.31$ 0.24$ Avg. Shares Outstanding 170 172

12 • Overview • Third Quarter 2012 Earnings Results • Cash Flow and Capital Expenditures • Summary

13 Third Quarter 2012 Cash Flow DTE Energy Cash Flow ($ billions) Drivers • Cash flow increased due to collection of trackers partially offset by higher corporate income tax payments • Higher capital spending primarily due to Bluestone Pipeline project at Gas Storage & Pipelines; also higher base and growth capital at utilities YTD 2011 YTD 2012 Cash From Operations $1.5 $1.7 Capital Spending (1.1) (1.2) Free Cash Flow $0.4 $0.5 Asset Sales 0.0 0.0 Dividends (0.3) (0.3) Net Cash $0.1 $0.2

14 2012 Cash Flow & Capital Expenditures Guidance Capital Expenditures ($ millions) Cash Flow Summary ($ billions) 2012 Original 2012 Revised Guidance Guidance Cash From Operations $1.9 $2.2 Capital Spending (1.9) (2.1) Free Cash Flow $0.0 $0.1 Asset Sales 0.3 0.3 Dividends (0.4) (0.4) Net Cash ($0.1) $0.0 Debt ($0.1) $0.0 Equity issued for employee benefit programs is considered non-cash and not included in financing activities 2012 Original 2012 Revised Guidance Guidance Detroit Edison Base $785 $810 Environmental 255 170 Renewables / EE 235 265 $1,275 $1,245 MichCon Base $156 $156 Main Renewal 37 37 Meter Move-Out 22 22 $215 $215 $430 $660 Total $1,920 $2,120 Non-Utility / Corporate & Other

2011 2012E 15 *Debt excludes securitization, a portion of MichCon’s short-term debt, and considers 50% of the Trust Preferreds/Junior Subordinated Notes as equity • A strong balance sheet remains a key DTE priority • Series of credit improvements in 2012 – Fitch upgraded Detroit Edison and MichCon – Moody’s raised its outlook to Positive • Leverage and cash flow metrics within targeted ranges • $1.7 billion of available liquidity as of September 30, 2012 • ~$160 million of new equity YTD Leverage* Funds from Operations / Debt* 2011 2012E 50% Target 50% - 52% 24% 23% Target 22% - 24% 51% Strong Balance Sheet Supports Growth

16 • Overview • Third Quarter 2012 Earnings Results • Cash Flow and Capital Expenditures • Summary

 3Q 2012 operating EPS* of $1.31 benefited from warm weather  Increasing 2012 operating EPS guidance to $3.80 - $4.00 from $3.65 - $3.95  Both utilities on track to earn their authorized ROE (temperature normal)  Long-term 5% - 6% operating EPS growth expected from mandated utility investments and growth opportunities in non-utility businesses  Balance sheet and cash flow metrics remain strong; increasing 2012 cash flow guidance Summary 17 * Reconciliation to GAAP reported earnings included in the appendix EEI conference presentation is November 13 at 9:45 AM MST with Gerry Anderson – Chairman, President & CEO

18 Contact Us DTE Energy Investor Relations www.dteenergy.com/investors 313-235-8030

Appendix

20 Detroit Edison Variance Analysis * Reconciliation to GAAP reported earnings included in the appendix $157 $40 ($ millions) Detroit Edison Operating Earnings* Variance $194 Drivers • Warm weather in 3Q 2012; RDM in 3Q 2011 $(3)

21 MichCon Variance Analysis * Reconciliation to GAAP reported earnings included in the appendix ($11) ($ millions) MichCon Operating Earnings* Variance $4 Drivers $9 $3 • Margin due to higher transportation and storage revenue and lower lost gas expense • O&M down due to reduced storage injections • Lower interest and property tax in 2012 $3

MichCon Rate Case Filing (U-16999) 22 Estimated Net Rate Request $49 $27 $1 $77 ($ millions) Rate Case Highlights • Lower sales due to customer conservation and lower midstream revenues • $377 million increase in rate base • Other highlights – 11% return on equity – Modified revenue decoupling mechanism – Infrastructure recovery mechanism for main renewal, meter move-out and pipeline integrity • Timeline – Filed: April 2012 – Staff Testimony filed – Self-implement Testimony filed – Self-implement: November 2012 (up to $34 million) – Proposal for decision: February 2013 – Final Order: April 2013 Represents annual base rate growth of ~4%* since last rate increase; combined with declining gas prices, annual bills decreasing ~5%* *Projected annualized residential change from 2010 to 2013 (weather normalized)

YTD 2011 YTD 2012 Detroit Edison Base 493$ 599$ Environmental 120 105 Renewables / EE 229 151 842 855 MichCon Base 107 119 Main Renewal 6 19 Meter Move-Out 10 15 123 153 Non-Utility Gas Storage & Pipelines 8 117 Unconventional Gas Production 23 44 Power & Industrial Projects 64 69 Energy Trading 1 1 96 231 Corporate & Other 5 2 Total 1,066$ 1,241$ 23 YTD 2012 Capital Expenditures DTE Energy Capital Expenditures ($ millions) • Detroit Edison higher base capital for system reliability and 2Q 2012 nuclear refueling outage • MichCon increase due to Main Renewal and Meter Move-Out programs • Bluestone Pipeline project driving increased investments in Gas Storage & Pipelines Drivers

261 Net Production (Bcfe) Gross Producing Wells Reserves (Bcfe) Acreage Position (000s Acres) Net Undeveloped Acres Net Developed Acres Unconventional Gas Operating Metrics 19 3Q 2012 68 87 17 70 YE 2011 87 3Q 2012 YE 2011 215 8-9 YE 2011 5.1 2Q 2012 YE 2011 Probable (Unaudited) Proved 373 279 652 373 186 559 • Focus on developing Marble Falls oil production • Pursuing monetization opportunities; targeting to close by year end 2012 • 47 wells completed; 46 on-line • Production of 5.6 Bcfe (58% Liquids) • 97% increase in oil production year-over-year • Increased proved reserves 50% YTD 2012 Results 2012 Goals YE 2012 Est. 24

Unconventional Gas: Focused on Liquids Production 25 Oil and NGLs* driving value 2010 2011 2012E Revenue by product (%) * Natural gas liquids Oil 56% NGL 29% Gas 15% 2010 2011 2Q 2012 Proved reserves by product (%) Oil 16% NGL 36% Gas 48% • Focus on maturing Marble Falls oil play •Wells confirming resource play – Vertical wells initial production up to 250 bbls oil per day plus liquids rich gas – Potential upside with horizontal wells – ~75,000 net acre Marble Falls position •Well payback period of 6-24 months at current prices – Vertical well costs of $800k – Attractive economics at current prices • Increased total proved reserves by 50% in June 2012 – Improved completion techniques – Accelerated 2012 drilling schedule

DTE Energy Trading Reconciliation of Operating Earnings* to Economic Net Income ($ millions) YTD 2011 Economic Net Income Accounting Adjustments** YTD 2011 Operating Earnings* $10 $46 • Economic net income equals economic gross margin*** minus O&M expenses and taxes • DTE Energy management uses economic net income as one of the performance measures for external communications with analysts and investors • Internally, DTE Energy uses economic net income as one of the measures to review performance against financial targets and budget * Reconciliation to GAAP reported earnings included in the appendix *** Economic gross margin is the change in net fair value of realized and unrealized purchase and sale contracts including certain non-derivative contract costs Energy Trading Operating Earnings* Realized Unrealized O&M / Other YTD 2012 YTD 2011 $44 $51 25 (1) (40) (40) ($ millions, after-tax) $3 $36 $3 $28 $31 26 $36 Operating Earnings* to Economic Net Income YTD 2012 Operating Earnings* Accounting Adjustments** YTD 2012 Economic Net Income ** Consists of the income statement effect of the timing of recognition of the fair value of derivative contracts for accounting vs. economic purposes and not recognizing changes in the fair value of certain non-derivative contracts including physical inventory, certain physical commodity purchase or sale contracts and capacity contracts for transportation, transmission and storage. These contracts are not marked-to-market, instead are recognized for accounting purposes on an accrual basis

27 Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. Reconciliation of YTD September 30, 2011 Reported to Operating Earnings YTD 2011 DTE Energy Electric Utility Gas Utility Gas Storage & Pipelines Unc. Gas Prod. Power & Indust. Projects Energy Trading Corporate & Other R or d E r ings $561 $345 $69 $42 ($5) $27 $36 $47 Michigan Corporate Income Tax Adjustment (88) - - - - - - (88) Fermi 1 Asset Retirement Obligation 9 9 - - - - - - Operating Earnings $482 $354 $69 $42 ($5) $27 $36 ($41) Net Income (millions) YT 2011 DTE Energy Electric Utility Gas Utility Gas Storage & Pipelines Unc. Gas Prod. Power & Indust. Projects Energy Trading Corporate & Other Repor ed ar i $3.30 $2.03 0.41 0.25 ($0.03) $0.16 $0.21 $0.27 Michigan Corporate Income Tax Adjustment (0.52) - - - - - - (0.52) Fermi 1 Asset Retirement Obligation 0.05 0.05 - - - - - - Operating Earnings $2.83 $2.08 $0.41 $0.25 ($0.03) $0.16 $0.21 ($0.25) EPS

Reconciliation of Other Reported to Operating Earnings Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. In this presentation, DTE Energy provides guidance for future period operating earnings. It is likely that certain items that impact the company’s future period reported results will be excluded from operating results. A reconciliation to the comparable future period reported earnings is not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings. There were no reported to operating earnings adjustments in 3Q 2012, 2Q 2012, 1Q 2012 or 3Q 2011. 28