exv99w2

EXHIBIT 99.2

3Q 2005 Supplemental Financial Information November 2, 2005

DTE Energy Company
Historical Operating Net Income
(Preliminary/Unaudited)

(in millions, except per share amounts)


	2004															2005
	Q1			Q2			Q3			Q4			Total			Q1			Q2			Q3
Electric Utility	$	38		$	10		$	62		$	68		$	178		$	57		$	46		$	97
Gas Utility		57			(28	)		(31	)		26			24			47			(2	)		(18	)

Total Utilities	$	95		$	(18	)	$	31		$	94		$	202		$	104		$	44		$	79

Power & Industrial Projects
Synfuels	$	41		$	54		$	51		$	47		$	193		$	65		$	18		$	47
Power Generation		(4	)		(4	)		(6	)		(3	)		(17	)		(4	)		(3	)		(1	)
All Other Projects		1			6			6			(1	)		12			5			8			3
Corporate Overheads		(2	)		(3	)		(2	)		(2	)		(9	)		—			(3	)		(2	)

Total Power & Industrial Projects	$	36		$	53		$	49		$	41		$	179		$	66		$	20		$	47

Unconventional Gas Production	$	1		$	2		$	1		$	1		$	5		$	1		$	0		$	2

Fuel Transportation & Marketing
Coal Services	$	3		$	5		$	5		$	7		$	20		$	5		$	6		$	5
Midstream		3			4			4			6			17			8			5			9
Energy Trading and CoEnergy Portfolio		9			(7	)		12			30			44			(22	)		(7	)		(140	)
Corporate Overheads		(3	)		(3	)		(3	)		(3	)		(12	)		(1	)		(4	)		(3	)

Total Fuel Transportation & Marketing	$	12		$	(1	)	$	18		$	40		$	69		$	(10	)	$	0		$	(129	)

Corporate & Other		(7	)		23			(2	)		(25	)		(11	)		(7	)		(24	)		6


Total Net Income	$	137		$	59		$	97		$	151		$	444		$	154		$	40		$	5


Earnings Per Diluted Share	$	0.80		$	0.34		$	0.56		$	0.86		$	2.56		$	0.88		$	0.23		$	0.03

Average Diluted Shares Outstanding		170			174			174			175			173			175			175			177

DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
Earnings Variance Analysis (Preliminary/Unaudited)


Q3 2004 Reported Earnings per Share			$	0.54
SAP/DTE2 Implementation project costs				0.02
Effective tax rate normalization				(0.02	)
Impairment charge / discontinued operations				0.02

Q3 2004 Operating Earnings per Share			$	0.56

Electric Utility			$	0.19
Higher gross margin
Weather	0.37
Rate order	0.10
Residential usage	0.08
Choice	0.07
Impacts of residential rate cap	(0.24	)
Lower regulatory deferrals	(0.12	)
Higher storm expense	(0.10	)
Merger interest	0.05
Other	(0.02	)
Gas Utility			$	0.07
Rate order	0.03
Gas margins	0.02
Merger interest	0.03
Other	(0.01	)
Non-Utility (excluding timing-related items)			$	0.14
Power & Industrial Projects (excluding Timing-Related Items) — primarily higher synfuel production	0.15
Unconventional Gas Production	0.01
Fuel Transportation & Marketing (excluding Timing-Related Items)	(0.02	)
Holding Company			$	0.04
Timing-Related Impacts:
Power & Industrial Projects
Deferred recognition of synfuel revenue				(0.21	)
Mark-to-market on 2005 synfuel oil hedges				0.05
Fuel Transportation & Marketing
Unrealized mark-to-market impact at Energy Trading — Q3 2004				0.09
Unrealized mark-to-market impact at Energy Trading — Q3 2005				(0.90	)

Q3 2005 Operating Earnings per Share			$	0.03

SAP/DTE2 implementation project costs	(0.02	)
Effective tax rate normalization	(0.06	)
Gain on sale of land	0.10
Mark-to-market on 2006 synfuel oil hedges	0.12
Impairment charge / discontinued operations (DTE Energy Technologies)	(0.15	)
Q3 2005 Reported Earnings per Share			$	0.02

DTE Energy Company
Consolidated Statement of Financial Position (Unaudited)


	(Unaudited)
	September 30			December 31
	2005			2004
(in Millions)
ASSETS
Current Assets
Cash and cash equivalents	$	91		$	56
Restricted cash		96			126
Accounts receivable
Customer (less allowance for doubtful accounts of $140 and $129, respectively)		1,372			880
Accrued unbilled revenues		225			378
Other		851			383
Inventories
Fuel and gas		700			509
Materials and supplies		150			159
Assets from risk management and trading activities		1,090			296
Other		411			209

		4,986			2,996


Investments
Nuclear decommissioning trust funds		634			590
Other		565			558

		1,199			1,148


Property
Property, plant and equipment		18,298			18,011
Less accumulated depreciation and depletion		(7,705	)		(7,520	)

		10,593			10,491


Other Assets
Goodwill		2,049			2,067
Regulatory assets		2,127			2,119
Securitized regulatory assets		1,367			1,438
Notes receivable		454			529
Assets from risk management and trading activities		524			125
Prepaid pension assets		185			184
Other		230			200

		6,936			6,662


Total Assets	$	23,714		$	21,297

DTE Energy Company
Consolidated Statement of Financial Position (Unaudited)


	(Unaudited)
	September 30			December 31
	2005			2004
(in Millions, Except Shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable	$	1,280		$	892
Accrued interest		114			111
Dividends payable		92			90
Accrued payroll		46			33
Income taxes		—			16
Short-term borrowings		875			403
Current portion of long-term debt, including capital leases		888			514
Liabilities from risk management and trading activities		1,566			369
Other		915			581

		5,776			3,009

Other Liabilities
Deferred income taxes		1,282			1,124
Regulatory liabilities		825			817
Asset retirement obligations		952			916
Unamortized investment tax credit		134			143
Liabilities from risk management and trading activities		743			224
Liabilities from transportation and storage contracts		359			387
Accrued pension liability		336			265
Deferred gains from asset sales		227			414
Minority interest		94			132
Nuclear decommissioning		83			77
Other		675			635

		5,710			5,134


Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		4,979			5,673
Securitization bonds		1,295			1,400
Equity-linked securities		175			178
Trust preferred-linked securities		289			289
Capital lease obligations		59			66

		6,797			7,606


Commitments and Contingencies

Shareholders’ Equity
Common stock, without par value, 400,000,000 shares authorized, 177,825,796 and 174,209,034 shares issued and outstanding, respectively		3,481			3,323
Retained earnings		2,267			2,383
Accumulated other comprehensive loss		(317	)		(158	)

		5,431			5,548


Total Liabilities and Shareholders’ Equity	$	23,714		$	21,297

DTE Energy Company
Consolidated Statement of Cash Flows (Unaudited)


	Nine Months Ended
	September 30
	2005			2004
(in Millions)
Operating Activities
Net Income	$	155		$	318
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		663			536
Deferred income taxes		121			104
Gain on sale of interests in synfuel projects		(180	)		(166	)
Gain on sale of assets, net		(31	)		(27	)
Partners’ share of synfuel project losses		(241	)		(158	)
Restructuring charges		31			—
Contributions from synfuel partners		177			71
Changes in assets and liabilities, exclusive of changes shown separately		(102	)		(88	)

Net cash from operating activities		593			590


Investing Activities
Plant and equipment expenditures — utility		(564	)		(555	)
Plant and equipment expenditures — non-utility		(145	)		(52	)
Proceeds from sale of interests in synfuel projects		251			151
Proceeds from sale of other assets, net of cash divested		56			62
Restricted cash for debt redemptions		30			55
Other investments		(109	)		(95	)

Net cash used for investing activities		(481	)		(434	)


Financing Activities
Issuance of long-term debt		623			617
Redemption of long-term debt		(1,059	)		(620	)
Short-term borrowings, net		472			106
Issuance of common stock		172			31
Repurchase of common stock		(12	)		—
Dividends on common stock		(268	)		(265	)
Other		(5	)		(5	)

Net cash used for financing activities		(77	)		(136	)


Net Increase in Cash and Cash Equivalents		35			20
Cash and Cash Equivalents at Beginning of the Period		56			54

Cash and Cash Equivalents at End of the Period	$	91		$	74

The Detroit Edison Company
Consolidated Statement of Operations (unaudited)


	Three Months Ended						Nine Months Ended
	September 30						September 30
(in Millions)	2005			2004			2005			2004
Operating Revenues	$	1,409		$	958		$	3,434		$	2,679


Operating Expenses
Fuel and purchased power		604			238			1,248			654
Operation and maintenance		325			361			976			1,064
Depreciation and amortization		174			128			484			364
Taxes other than income		68			62			200			192
Asset gains and losses, net		(26	)		—			(26	)		(1	)

		1,145			789			2,882			2,273


Operating Income		264			169			552			406


Other (Income) and Deductions
Interest expense		68			72			201			215
Interest income		(1	)		—			(2	)		—
Other income		(17	)		(13	)		(47	)		(43	)
Other expenses		20			16			62			61

		70			75			214			233


Income Before Income Taxes		194			94			338			173

Income Tax Provision		80			32			126			59


Reported Earnings		114			62			212			114

Adjustments

Incremental non-recurring DTE2 project costs		3			1			8			6
Effective tax rate normalization		(3	)		(1	)		(3	)		(2	)
Gain on sale of assets to MGM		(17	)		—			(17	)		—
Stranded Cost adjustment		—			—			—			(7	)


Operating Earnings	$	97		$	62		$	200		$	111

The Consolidated Statement of Operations (Unaudited) should be read in conjunction with the Notes to
Consolidated Financial Statements appearing in the Annual Report to Shareholders, Form 10K and 10Q.

Michigan Consolidated Gas Company
Consolidated Statement of Operations (unaudited)


	Three Months Ended						Nine Months Ended
	September 30						September 30
(in Millions)	2005			2004			2005			2004

Operating Revenues	$	206		$	155		$	1,301		$	1,141


Operating Expenses
Cost of gas		100			64			858			713
Operation and maintenance		93			90			308			295
Depreciation, depletion and amortization		23			28			73			81
Taxes other than income		9			12			35			37
Asset (gains) and losses, net		—			—			48			(2	)

		225			194			1,322			1,124


Operating Income (Loss)		(19	)		(39	)		(21	)		17


Other (Income) and Deductions
Interest expense		14			14			42			41
Interest income		(3	)		(2	)		(8	)		(7	)
Other		—			—			—			1

		11			12			34			35


Income (Loss) Before Income Taxes		(30	)		(51	)		(55	)		(18	)
Income Tax Provision (Benefit)		(189	)		2			(151	)		2

Reported Earnings		159			(53	)		96			(20	)

Adjustments
Incremental non-recurring DTE2 project costs.		2			1			4			4
April 2005 MPSC gas orders		—			—			57			—
Effective tax rate normalization		(181	)		23			(130	)		15


Operating Earnings	$	(20	)	$	(29	)	$	27		$	(1	)

The Consolidated Statement of Operations (Unaudited) should be read in conjunction with the Notes to Consolidated Financial Statements appearing in the Annual Report to Shareholders, Form 10K and 10Q.

DTE Energy Debt/Equity Calculation
As of September 30, 2005
($ millions)


Short-term borrowings	875
Current portion long-term debt, including capital leases	888
Mortgage bonds, notes and other	4,979
Securitization bonds	1,295
Capital lease obligations	59
Equity-linked securities	175
less MichCon short-term debt	(166	)
less securitization debt, including current portion	(1,399	)

Total debt	6,706


Trust preferred	289

Total preferred/ other	289



Equity	5,431


Total capitalization	12,426


Debt	54.0	%
Preferred stock	2.3	%
Common shareholders’ equity	43.7	%


Total	100.0	%

Sales Analysis — Q3 2005

Electric Sales — Detroit Edison Service Area (GWh)


	Q3 2005		Q3 2004		% Change

Residential		5,554,576		4,113,927		35	%
Commercial		4,461,908		3,557,384		25	%
Industrial		3,197,271		2,854,400		12	%
Other		691,397		628,397		10	%

		13,905,152		11,154,108		25	%
Interconnection		1,110,357		1,442,501		-23	%
Choice*		1,697,176		2,654,802		-36	%

TOTAL SALES		16,712,685		15,251,411		10	%


*		Includes Dearborn Industrial Group sales

Electric Revenue — Detroit Edison Service Area ($000s)


	Q3 2005		Q3 2004		% Change

Residential		508,444		369,059		38	%
Commercial		376,134		294,301		28	%
Industrial		187,559		137,412		36	%
Other		34,172		29,209		17	%

		1,106,309		829,981		33	%
Interconnection		139,351		58,090		140	%
Choice*		32,915		50,506		-35	%

TOTAL REVENUES		1,278,575		938,577		36	%


*		Distribution charge, includes Dearborn Industrial Group revenues

Gas Sales — MichCon Service Area (Mcf)


	Q3 2005		Q3 2004		% Change

Residential		7,262,523		9,180,323		-21	%
Commercial		2,413,047		2,695,926		-10	%
Industrial		201,249		188,258		7	%

		9,876,819		12,064,507		-18	%
End User
Transportation*		34,491,497		27,441,684		26	%

TOTAL SALES		44,368,316		39,506,191		12	%


*		Includes choice customers

Gas Revenue — MichCon Service Area ($000s)


	Q3 2005		Q3 2004		% Change

Residential		102,002		96,522		6	%
Commercial		30,857		26,379		17	%
Industrial		2,188		1,652		32	%

		135,047		124,553		8	%
End User Transportation*		24,268		20,819		17	%

TOTAL REVENUES		159,315		145,372		10	%


*		Includes choice customers

Weather

Cooling Degree Days

Detroit Edison service territory


	Q3 2005			Q3 2004			% Change

Actuals		775			470			65	%
Normal		537			537


Deviation from normal		44	%		-12	%

Heating Degree Days

MichCon service territory


	Q3 2005			Q3 2004			% Change

Actuals		58			134			-57	%
Normal*		182			147


Deviation from normal		-68	%		-9	%


*		2005 data based on 30-year average, 2004 data based on 10-year average