-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VPLo3XnlO1E53o7YbbiiiYaaVd0Dh6En111nhjnz2SFNlqgGRMPM67Y82+wXnB8V hhoZkN1i/yj79U47yrEPqw== 0000950124-96-003916.txt : 19960910 0000950124-96-003916.hdr.sgml : 19960910 ACCESSION NUMBER: 0000950124-96-003916 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960909 ITEM INFORMATION: Other events FILED AS OF DATE: 19960909 SROS: CSX SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DTE ENERGY CO CENTRAL INDEX KEY: 0000936340 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 383217752 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11607 FILM NUMBER: 96627440 BUSINESS ADDRESS: STREET 1: 2000 2ND AVENUE STREET 2: ROOM 2412 CITY: DETRIOT STATE: MI ZIP: 48226-1279 BUSINESS PHONE: 3132378666 MAIL ADDRESS: STREET 1: 2000 2ND AVENUE STREET 2: ROOM 2412 CITY: DETRIOT STATE: MI ZIP: 48226 FORMER COMPANY: FORMER CONFORMED NAME: DTE HOLDINGS INC DATE OF NAME CHANGE: 19950127 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DETROIT EDISON CO CENTRAL INDEX KEY: 0000028385 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 380478650 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02198 FILM NUMBER: 96627441 BUSINESS ADDRESS: STREET 1: 2000 SECOND AVE - 2112 WCB CITY: DETROIT STATE: MI ZIP: 48226 BUSINESS PHONE: 3132378000 8-K 1 FORM 8-K 1 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): SEPTEMBER 9, 1996 COMMISSION EXACT NAME OF REGISTRANT AS I.R.S. EMPLOYER FILE NUMBER SPECIFIED IN ITS CHARTER IDENTIFICATION NO. - ----------- ------------------------ ------------------ 1-11607 DTE ENERGY COMPANY (A MICHIGAN CORPORATION) 38-3217752 2000 2ND AVENUE DETROIT, MICHIGAN 48226-1279 313-235-4000 1-2198 THE DETROIT EDISON COMPANY (A MICHIGAN CORPORATION) 38-0478650 2000 2ND AVENUE DETROIT, MICHIGAN 48226-1279 313-235-8000 2 ITEM 5. OTHER EVENTS. As discussed in Note 14 of the Notes to Consolidated Financial Statements appearing in the DTE Energy Company and The Detroit Edison Company ("Detroit Edison") Annual Report on Form 10-K for the year ended December 31, 1995 and in Note 2 of the Quarterly Report on Form 10-Q for the quarter ended June 30, 1996, DTE Energy Company adopted Statement of Financial Accounting Standards ("SFAS") No. 121, " Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of" in 1995. As the result of continuing losses in the operation of its steam heating business, upon adoption of SFAS No. 121, Detroit Edison wrote off the remaining net book value of its steam heating plant assets of $42 million ($32 million after-tax) or $0.22 per common share. Also, it reported that, based on current market conditions, the steam heating operations continue to generate losses, therefore, Detroit Edison would continue to review its steam heating operations to determine what actions, if any, may be necessary. Detroit Edison has completed its review of the steam heating operations. As a result, Detroit Edison will record an additional non-cash charge to net income of approximately $138 million ($90 million after-tax) or $0.62 per common share in the third quarter of 1996. The charge to net income is due primarily to the recording of a reserve for steam purchase commitments during the period 1997-2008 under the agreement with the Greater Detroit Resource Recovery Facility. Detroit Edison is a wholly-owned subsidiary of DTE Energy Company. 3 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. DTE ENERGY COMPANY ---------------------------------- (REGISTRANT) By: /s/ Ronald W. Gresens ------------------------------ Ronald W. Gresens Vice President and Controller THE DETROIT EDISON COMPANY --------------------------------- (REGISTRANT) By: /s/ Ronald W. Gresens ------------------------------ Ronald W. Gresens Vice President and Controller Date: September 9, 1996 -----END PRIVACY-ENHANCED MESSAGE-----