DTE ELECTRIC CO, 10-Q filed on 10/27/2022
Quarterly Report
v3.22.2.2
Document and Entity Information
 9 Months Ended
Sep. 30, 2022
shares
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Sep. 30, 2022
Document Transition Report false
Entity File Number 1-11607
Entity Registrant Name DTE Energy Co
Entity Incorporation, State or Country Code MI
Entity Tax Identification Number 38-3217752
Entity Address, Address Line One One Energy Plaza
Entity Address, City or Town Detroit
Entity Address, State or Province MI
Entity Address, Postal Zip Code 48226-1279
City Area Code 313
Local Phone Number 235-4000
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 193,741,991
Entity Central Index Key 0000936340
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2022
Document Fiscal Period Focus Q3
Amendment Flag false
DTE Electric  
Entity File Number 1-2198
Entity Registrant Name DTE Electric Co
Entity Incorporation, State or Country Code MI
Entity Tax Identification Number 38-0478650
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Non-accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 138,632,324
Entity Central Index Key 0000028385
Common stock, without par value  
Title of 12(b) Security Common stock, without par value
Trading Symbol DTE
Security Exchange Name NYSE
2017 Series E 5.25% Junior Subordinated Debentures due 2077  
Title of 12(b) Security 2017 Series E 5.25% Junior Subordinated Debentures due 2077
Trading Symbol DTW
Security Exchange Name NYSE
2019 6.25% Corporate Units  
Title of 12(b) Security 2019 6.25% Corporate Units
Trading Symbol DTP
Security Exchange Name NYSE
2020 Series G 4.375% Junior Subordinated Debentures due 2080  
Title of 12(b) Security 2020 Series G 4.375% Junior Subordinated Debentures due 2080
Trading Symbol DTB
Security Exchange Name NYSE
2021 Series E 4.375% Junior Subordinated Debentures due 2081  
Title of 12(b) Security 2021 Series E 4.375% Junior Subordinated Debentures due 2081
Trading Symbol DTG
Security Exchange Name NYSE
v3.22.2.2
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Revenues        
Utility operations $ 2,053 $ 1,875 $ 6,196 $ 5,483
Non-utility operations 3,198 1,840 8,556 4,834
Operating Revenues 5,251 3,715 14,752 10,317
Operating Expenses        
Fuel, purchased power, and gas — utility 594 477 1,901 1,411
Fuel, purchased power, gas, and other — non-utility 3,023 1,766 8,324 4,708
Operation and maintenance 608 615 1,803 1,750
Depreciation and amortization 369 344 1,093 1,010
Taxes other than income 111 106 349 329
Asset (gains) losses and impairments, net 1 2 (4) 29
Operating Expenses 4,706 3,310 13,466 9,237
Operating Income 545 405 1,286 1,080
Other (Income) and Deductions        
Interest expense 171 156 486 477
Interest income (10) (6) (26) (16)
Non-operating retirement benefits, net (5) 3 (13) 10
Loss on extinguishment of debt 0 376 0 384
Other income (16) (90) (35) (187)
Other expenses 12 30 56 50
Other (Income) and Deductions 152 469 468 718
Income (Loss) Before Income Taxes 393 (64) 818 362
Income Tax Expense (Benefit) (Note 2) 6 (119) 0 (124)
Net Income from Continuing Operations 387 55 818 486
Income (Loss) from Discontinued Operations, Net of Taxes (Note 4) 0 (33) 0 112
Net Income 387 22 818 598
Less: Net Income (Loss) Attributable to Noncontrolling Interests        
Continuing operations 0 (3) 0 (9)
Discontinued operations 0 0 0 6
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 387 $ 25 $ 818 $ 601
Basic Earnings per Common Share        
Continuing operations (in dollars per share) $ 2.00 $ 0.30 $ 4.22 $ 2.55
Discontinued operations (in dollars per share) 0 (0.17) 0 0.55
Basic Earnings per Common Share (in dollars per share) 2.00 0.13 4.22 3.10
Diluted Earnings per Common Share        
Continuing operations (in dollars per share) 1.99 0.30 4.21 2.55
Discontinued operations (in dollars per share) 0 (0.17) 0 0.55
Diluted Earnings per Common Share (in dollars per share) $ 1.99 $ 0.13 $ 4.21 $ 3.10
Weighted Average Common Shares Outstanding        
Basic (in shares) 193 193 193 193
Diluted (in shares) 194 194 194 194
v3.22.2.2
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Statement of Comprehensive Income [Abstract]        
Net Income $ 387 $ 22 $ 818 $ 598
Other comprehensive income, net of tax:        
Benefit obligations, net of taxes of $—, $1, $2, and $2, respectively 2 2 7 5
Net unrealized gains on derivatives, net of taxes of $1, $1, $2, and $2, respectively 4 4 7 6
Other comprehensive income 6 6 14 11
Comprehensive income 393 28 832 609
Less: Comprehensive loss attributable to noncontrolling interests 0 (3) 0 (3)
Comprehensive Income (Loss) Attributable to DTE Energy Company/DTE Electric Company $ 393 $ 31 $ 832 $ 612
v3.22.2.2
Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Statement of Comprehensive Income [Abstract]        
Tax effect on benefit obligations $ 0 $ 1 $ 2 $ 2
Tax effect on net unrealized gains (losses) on derivatives during the period $ 1 $ 1 $ 2 $ 2
v3.22.2.2
Consolidated Statements of Financial Position (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 26 $ 28
Restricted cash 25 7
Accounts receivable (less allowance for doubtful accounts of $95 and $92, respectively)    
Customer 1,781 1,695
Other 199 135
Inventories    
Fuel and gas 540 368
Materials, supplies, and other 508 490
Derivative assets 395 181
Regulatory assets 511 195
Other 325 218
Total Current Assets 4,310 3,317
Investments    
Nuclear decommissioning trust funds 1,764 2,071
Investments in equity method investees 169 187
Other 157 194
Total Investments 2,090 2,452
Property    
Property, plant, and equipment 38,550 37,083
Accumulated depreciation and amortization (10,451) (10,139)
Total Property 28,099 26,944
Other Assets    
Goodwill 1,993 1,993
Regulatory assets 3,583 3,482
Securitized regulatory assets 214 0
Intangible assets 170 177
Notes receivable 316 310
Derivative assets 123 90
Prepaid postretirement costs 738 678
Operating lease right-of-use assets 91 97
Other 227 179
Total Other Assets 7,455 7,006
Total Assets 41,954 39,719
Current Liabilities    
Accounts payable 1,619 1,414
Accrued interest 157 140
Dividends payable 171 171
Short-term borrowings 994 758
Current portion long-term debt, including securitization bonds and finance leases 1,425 2,874
Derivative liabilities 498 238
Regulatory liabilities 54 156
Operating lease liabilities 13 14
Other 535 581
Total Current Liabilities 5,466 6,346
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 16,354 13,629
Securitization bonds 192 0
Junior subordinated debentures 883 883
Finance lease liabilities 13 19
Total Long-Term Debt (net of current portion) 17,442 14,531
Other Liabilities    
Deferred income taxes 2,313 2,163
Regulatory liabilities 2,731 3,106
Asset retirement obligations 3,425 3,162
Unamortized investment tax credit 183 158
Derivative liabilities 256 192
Accrued pension liability 268 339
Accrued postretirement liability 350 358
Nuclear decommissioning 272 321
Operating lease liabilities 69 74
Other 193 256
Total Other Liabilities 10,060 10,129
Commitments and Contingencies (Notes 6 and 13)
Equity    
Common stock (No par value, 400,000,000 shares authorized, and 193,741,991 and 193,747,509 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively) 5,337 5,379
Retained earnings 3,741 3,438
Accumulated other comprehensive loss (98) (112)
Total DTE Energy/DTE Electric Company Equity 8,980 8,705
Noncontrolling interests 6 8
Total Equity 8,986 8,713
Total Liabilities and Equity $ 41,954 $ 39,719
v3.22.2.2
Consolidated Statements of Financial Position (Unaudited) (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Allowance for doubtful accounts $ 95 $ 92
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 193,741,991 193,747,509
Common stock, shares outstanding (in shares) 193,741,991 193,747,509
v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net Income $ 818 $ 598
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 1,093 1,092
Nuclear fuel amortization 26 44
Allowance for equity funds used during construction (20) (20)
Deferred income taxes 15 (36)
Equity (earnings) losses of equity method investees 15 (90)
Dividends from equity method investees 4 78
Loss on extinguishment of debt 0 384
Asset (gains) losses and impairments, net (4) 46
Changes in assets and liabilities:    
Accounts receivable, net (150) (8)
Inventories (204) (209)
Prepaid postretirement benefit costs (60) (59)
Accounts payable 228 225
Accrued pension liability (71) (65)
Accrued postretirement liability (8) (9)
Derivative assets and liabilities 77 309
Regulatory assets and liabilities (552) 270
Other current and noncurrent assets and liabilities 205 (178)
Net cash from operating activities 1,412 2,372
Investing Activities    
Plant and equipment expenditures — utility (2,342) (2,591)
Plant and equipment expenditures — non-utility (55) (109)
Proceeds from sale of assets 4 2
Proceeds from sale of nuclear decommissioning trust fund assets 707 854
Investment in nuclear decommissioning trust funds (710) (853)
Distributions from equity method investees 11 11
Contributions to equity method investees (12) (7)
Notes receivable (13) (65)
Other (43) (22)
Net cash used for investing activities (2,453) (2,780)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 1,771 4,033
Redemption of long-term debt (316) (3,242)
Short-term borrowings, net 236 323
Repurchase of common stock (55) (66)
Dividends paid on common stock (514) (631)
Contributions from noncontrolling interests 3 35
Distributions to noncontrolling interests (5) (33)
Prepayment costs for extinguishment of long-term debt 0 (361)
Transfer of cash to DT Midstream at separation 0 (37)
Other (63) (73)
Net cash from (used for) financing activities 1,057 (52)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 16 (460)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 35 516
Cash, Cash Equivalents, and Restricted Cash at End of Period 51 56
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 331 386
Separation of DT Midstream net assets, excluding cash transferred $ 0 $ 3,962
v3.22.2.2
Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Millions
Total
Common Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning Balance (in shares) at Dec. 31, 2020   193,771,000      
Beginning Balance at Dec. 31, 2020 $ 12,589 $ 5,406 $ 7,156 $ (137) $ 164
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 397   397    
Dividends declared on common stock (210)   (210)    
Repurchase of common stock (in shares)   (430,000)      
Repurchase of common stock (54) $ (54)      
Other comprehensive income, net of tax 3     3  
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (in shares)   386,000      
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (11) $ (8) (1)   (2)
Ending Balance (in shares) at Mar. 31, 2021   193,727,000      
Ending Balance at Mar. 31, 2021 12,714 $ 5,344 7,342 (134) 162
Beginning Balance (in shares) at Dec. 31, 2020   193,771,000      
Beginning Balance at Dec. 31, 2020 12,589 $ 5,406 7,156 (137) 164
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 598        
Other comprehensive income, net of tax 11        
Ending Balance (in shares) at Sep. 30, 2021   193,727,000      
Ending Balance at Sep. 30, 2021 8,579 $ 5,366 3,317 (116) 12
Beginning Balance (in shares) at Mar. 31, 2021   193,727,000      
Beginning Balance at Mar. 31, 2021 12,714 $ 5,344 7,342 (134) 162
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 179   179    
Dividends declared on common stock (370)   (370)    
Other comprehensive income, net of tax 2     2  
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (in shares)   25,000      
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other 14 $ 17 (2)   (1)
Ending Balance (in shares) at Jun. 30, 2021   193,752,000      
Ending Balance at Jun. 30, 2021 12,539 $ 5,361 7,149 (132) 161
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 22   25   (3)
Repurchase of common stock (in shares)   (99,000)      
Repurchase of common stock (12) $ (12)      
Other comprehensive income, net of tax 6     6  
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (in shares)   74,000      
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other 23 $ 17 1   5
Separation of DT Midstream (3,999)   (3,858) 10 (151)
Ending Balance (in shares) at Sep. 30, 2021   193,727,000      
Ending Balance at Sep. 30, 2021 $ 8,579 $ 5,366 3,317 (116) 12
Beginning Balance (in shares) at Dec. 31, 2021 193,747,509 193,748,000      
Beginning Balance at Dec. 31, 2021 $ 8,713 $ 5,379 3,438 (112) 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 394   394    
Dividends declared on common stock (171)   (171)    
Repurchase of common stock (in shares)   (465,000)      
Repurchase of common stock (55) $ (55)      
Other comprehensive income, net of tax 3     3  
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (in shares)   456,000      
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (17) $ (14) 1   (4)
Ending Balance (in shares) at Mar. 31, 2022   193,739,000      
Ending Balance at Mar. 31, 2022 $ 8,867 $ 5,310 3,662 (109) 4
Beginning Balance (in shares) at Dec. 31, 2021 193,747,509 193,748,000      
Beginning Balance at Dec. 31, 2021 $ 8,713 $ 5,379 3,438 (112) 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 818        
Other comprehensive income, net of tax $ 14        
Ending Balance (in shares) at Sep. 30, 2022 193,741,991 193,742,000      
Ending Balance at Sep. 30, 2022 $ 8,986 $ 5,337 3,741 (98) 6
Beginning Balance (in shares) at Mar. 31, 2022   193,739,000      
Beginning Balance at Mar. 31, 2022 8,867 $ 5,310 3,662 (109) 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 37   37    
Dividends declared on common stock (343)   (343)    
Other comprehensive income, net of tax 5     5  
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (in shares)   (3,000)      
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other 13 $ 13 (1)   1
Ending Balance (in shares) at Jun. 30, 2022   193,736,000      
Ending Balance at Jun. 30, 2022 8,579 $ 5,323 3,355 (104) 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income (Loss) 387   387    
Other comprehensive income, net of tax 6     6  
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other (in shares)   6,000      
Stock-based compensation, net distributions to/contributions from noncontrolling interests, and other $ 14 $ 14 (1)   1
Ending Balance (in shares) at Sep. 30, 2022 193,741,991 193,742,000      
Ending Balance at Sep. 30, 2022 $ 8,986 $ 5,337 $ 3,741 $ (98) $ 6
v3.22.2.2
Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]        
Dividends declared on common stock (in dollars per share) $ 1.77 $ 0.89 $ 1.91 $ 1.09
v3.22.2.2
Consolidated Statements of Operations (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Revenues — Utility operations $ 2,053 $ 1,875 $ 6,196 $ 5,483
Operating Expenses        
Fuel, purchased power, and gas — utility 594 477 1,901 1,411
Taxes other than income 111 106 349 329
Operating Expenses 4,706 3,310 13,466 9,237
Operating Income 545 405 1,286 1,080
Other (Income) and Deductions        
Interest expense 171 156 486 477
Non-operating retirement benefits, net (5) 3 (13) 10
Other income (16) (90) (35) (187)
Other expenses 12 30 56 50
Other (Income) and Deductions 152 469 468 718
Income (Loss) Before Income Taxes 393 (64) 818 362
Income Tax Expense 6 (119) 0 (124)
Net Income Attributable to DTE Energy Company/DTE Electric Company 387 25 818 601
DTE Electric        
Operating Revenues — Utility operations 1,844 1,700 4,896 4,468
Operating Expenses        
Fuel, purchased power, and gas — utility 595 462 1,551 1,185
Operation and maintenance 403 410 1,167 1,122
Depreciation and amortization 304 278 899 810
Taxes other than income 85 83 257 245
Operating Expenses 1,387 1,233 3,874 3,362
Operating Income 457 467 1,022 1,106
Other (Income) and Deductions        
Interest expense 93 84 271 251
Non-operating retirement benefits, net (1) 0 (2) (1)
Other income (15) (14) (46) (52)
Other expenses 11 8 37 26
Other (Income) and Deductions 88 78 260 224
Income (Loss) Before Income Taxes 369 389 762 882
Income Tax Expense 6 45 12 92
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 363 $ 344 $ 750 $ 790
v3.22.2.2
Consolidated Statements of Comprehensive Income (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net Income $ 387 $ 25 $ 818 $ 601
Other comprehensive income 6 6 14 11
Comprehensive Income (Loss) Attributable to DTE Energy Company/DTE Electric Company 393 31 832 612
DTE Electric        
Net Income 363 344 750 790
Other comprehensive income 0 0 0 0
Comprehensive Income (Loss) Attributable to DTE Energy Company/DTE Electric Company $ 363 $ 344 $ 750 $ 790
v3.22.2.2
Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 26 $ 28
Restricted cash 25 7
Accounts receivable (less allowance for doubtful accounts of $53 and $54, respectively)    
Customer 1,781 1,695
Other 199 135
Inventories    
Fuel 540 368
Materials and supplies 508 490
Regulatory assets 511 195
Other 325 218
Total Current Assets 4,310 3,317
Investments    
Nuclear decommissioning trust funds 1,764 2,071
Other 157 194
Total Investments 2,090 2,452
Property    
Property, plant, and equipment 38,550 37,083
Accumulated depreciation and amortization (10,451) (10,139)
Total Property 28,099 26,944
Other Assets    
Regulatory assets 3,583 3,482
Securitized regulatory assets 214 0
Operating lease right-of-use assets 91 97
Other 227 179
Total Other Assets 7,455 7,006
Total Assets 41,954 39,719
Accounts payable    
Accrued interest 157 140
Current portion long-term debt, including securitization bonds and finance leases 1,425 2,874
Regulatory liabilities 54 156
Short-term borrowings    
Operating lease liabilities 13 14
Other 535 581
Total Current Liabilities 5,466 6,346
Long-Term Debt (net of current portion)    
Securitization bonds 192 0
Finance lease liabilities 13 19
Total Long-Term Debt (net of current portion) 17,442 14,531
Other Liabilities    
Deferred income taxes 2,313 2,163
Regulatory liabilities 2,731 3,106
Asset retirement obligations 3,425 3,162
Unamortized investment tax credit 183 158
Nuclear decommissioning 272 321
Operating lease liabilities 69 74
Other 193 256
Total Other Liabilities 10,060 10,129
Commitments and Contingencies (Notes 6 and 13)
Equity    
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods) 5,337 5,379
Retained earnings 3,741 3,438
Total DTE Energy/DTE Electric Company Equity 8,980 8,705
Total Liabilities and Equity 41,954 39,719
DTE Electric    
Current Assets    
Cash and cash equivalents 8 9
Restricted cash 23 0
Accounts receivable (less allowance for doubtful accounts of $53 and $54, respectively)    
Customer 756 694
Affiliates 32 36
Other 59 40
Inventories    
Fuel 180 171
Materials and supplies 319 316
Regulatory assets 424 168
Prepaid property tax 125 57
Other 49 44
Total Current Assets 1,975 1,535
Investments    
Nuclear decommissioning trust funds 1,764 2,071
Other 39 44
Total Investments 1,803 2,115
Property    
Property, plant, and equipment 29,909 28,849
Accumulated depreciation and amortization (7,928) (7,676)
Total Property 21,981 21,173
Other Assets    
Regulatory assets 3,110 2,968
Securitized regulatory assets 214 0
Prepaid postretirement costs — affiliates 439 402
Operating lease right-of-use assets 57 64
Other 188 148
Total Other Assets 4,008 3,582
Total Assets 29,767 28,405
Accounts payable    
Affiliates 72 83
Other 551 567
Accrued interest 91 95
Current portion long-term debt, including securitization bonds and finance leases 148 322
Regulatory liabilities 52 154
Short-term borrowings    
Affiliates 78 53
Other 459 153
Operating lease liabilities 9 10
Other 196 206
Total Current Liabilities 1,656 1,643
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 9,380 8,591
Securitization bonds 192 0
Finance lease liabilities 2 7
Total Long-Term Debt (net of current portion) 9,574 8,598
Other Liabilities    
Deferred income taxes 2,876 2,741
Regulatory liabilities 1,860 2,221
Asset retirement obligations 3,186 2,932
Unamortized investment tax credit 183 158
Nuclear decommissioning 272 321
Accrued pension liability — affiliates 365 405
Accrued postretirement liability — affiliates 334 340
Operating lease liabilities 41 46
Other 71 97
Total Other Liabilities 9,188 9,261
Commitments and Contingencies (Notes 6 and 13)
Equity    
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods) 6,298 6,002
Retained earnings 3,051 2,901
Total DTE Energy/DTE Electric Company Equity 9,349 8,903
Total Liabilities and Equity $ 29,767 $ 28,405
v3.22.2.2
Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Allowance for doubtful accounts $ 95 $ 92
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 193,741,991 193,747,509
Common stock, shares outstanding (in shares) 193,741,991 193,747,509
DTE Electric    
Current Assets    
Allowance for doubtful accounts $ 53 $ 54
Shareholder’s Equity    
Par value (in dollars per share) $ 10 $ 10
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 138,632,324 138,632,324
Common stock, shares outstanding (in shares) 138,632,324 138,632,324
v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net Income $ 818 $ 601
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 1,093 1,092
Nuclear fuel amortization 26 44
Allowance for equity funds used during construction (20) (20)
Deferred income taxes 15 (36)
Changes in assets and liabilities:    
Accounts receivable, net (150) (8)
Inventories (204) (209)
Accounts payable 228 225
Regulatory assets and liabilities (552) 270
Other current and noncurrent assets and liabilities 205 (178)
Net cash from operating activities 1,412 2,372
Investing Activities    
Proceeds from sale of assets 4 2
Proceeds from sale of nuclear decommissioning trust fund assets 707 854
Investment in nuclear decommissioning trust funds (710) (853)
Net cash used for investing activities (2,453) (2,780)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 1,771 4,033
Redemption of long-term debt (316) (3,242)
Dividends paid on common stock (514) (631)
Other (63) (73)
Net cash from (used for) financing activities 1,057 (52)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 16 (460)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 35 516
Cash, Cash Equivalents, and Restricted Cash at End of Period 51 56
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 331 386
DTE Electric    
Operating Activities    
Net Income 750 790
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 899 810
Nuclear fuel amortization 26 44
Allowance for equity funds used during construction (18) (18)
Deferred income taxes 11 90
Changes in assets and liabilities:    
Accounts receivable, net (77) (25)
Inventories (26) (19)
Accounts payable 17 40
Prepaid postretirement benefit costs — affiliates (37) (36)
Accrued pension liability — affiliates (40) (34)
Accrued postretirement liability — affiliates (6) (6)
Regulatory assets and liabilities (563) 229
Other current and noncurrent assets and liabilities 166 (259)
Net cash from operating activities 1,102 1,606
Investing Activities    
Plant and equipment expenditures (1,853) (2,152)
Proceeds from sale of assets 4 0
Proceeds from sale of nuclear decommissioning trust fund assets 707 854
Investment in nuclear decommissioning trust funds (710) (853)
Notes receivable and other (42) (22)
Net cash used for investing activities (1,894) (2,173)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 1,118 986
Redemption of long-term debt (316) (321)
Capital contribution by parent company 296 273
Short-term borrowings, net — affiliate 25 (69)
Short-term borrowings, net — other 306 159
Dividends paid on common stock (600) (441)
Other (15) (18)
Net cash from (used for) financing activities 814 569
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 22 2
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 9 16
Cash, Cash Equivalents, and Restricted Cash at End of Period 31 18
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable $ 242 $ 307
v3.22.2.2
Consolidated Statements of Changes in Shareholder's Equity (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
Total
Common Stock
Retained Earnings
DTE Electric
DTE Electric
Common Stock
DTE Electric
Additional Paid-in Capital
DTE Electric
Retained Earnings
Beginning Balance (in shares) at Dec. 31, 2020   193,771,000     138,632,000    
Beginning Balance at Dec. 31, 2020       $ 8,070 $ 1,386 $ 4,061 $ 2,623
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       208     208
Dividends declared on common stock $ (210)   $ (210) (147)     (147)
Ending Balance (in shares) at Mar. 31, 2021   193,727,000     138,632,000    
Ending Balance at Mar. 31, 2021       8,131 $ 1,386 4,061 2,684
Beginning Balance (in shares) at Dec. 31, 2020   193,771,000     138,632,000    
Beginning Balance at Dec. 31, 2020       8,070 $ 1,386 4,061 2,623
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income 601     790      
Ending Balance (in shares) at Sep. 30, 2021   193,727,000     138,632,000    
Ending Balance at Sep. 30, 2021       8,692 $ 1,386 4,334 2,972
Beginning Balance (in shares) at Mar. 31, 2021   193,727,000     138,632,000    
Beginning Balance at Mar. 31, 2021       8,131 $ 1,386 4,061 2,684
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       238     238
Dividends declared on common stock (370)   (370) (146)     (146)
Ending Balance (in shares) at Jun. 30, 2021   193,752,000     138,632,000    
Ending Balance at Jun. 30, 2021       8,223 $ 1,386 4,061 2,776
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 25     344     344
Dividends declared on common stock       (148)     (148)
Capital contribution by parent company       273   273  
Ending Balance (in shares) at Sep. 30, 2021   193,727,000     138,632,000    
Ending Balance at Sep. 30, 2021       $ 8,692 $ 1,386 4,334 2,972
Beginning Balance (in shares) at Dec. 31, 2021 193,747,509 193,748,000   138,632,324 138,632,000    
Beginning Balance at Dec. 31, 2021 $ 8,705     $ 8,903 $ 1,386 4,616 2,901
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       201     201
Dividends declared on common stock $ (171)   (171) (277)     (277)
Ending Balance (in shares) at Mar. 31, 2022   193,739,000     138,632,000    
Ending Balance at Mar. 31, 2022       $ 8,827 $ 1,386 4,616 2,825
Beginning Balance (in shares) at Dec. 31, 2021 193,747,509 193,748,000   138,632,324 138,632,000    
Beginning Balance at Dec. 31, 2021 $ 8,705     $ 8,903 $ 1,386 4,616 2,901
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 818     $ 750      
Ending Balance (in shares) at Sep. 30, 2022 193,741,991 193,742,000   138,632,324 138,632,000    
Ending Balance at Sep. 30, 2022 $ 8,980     $ 9,349 $ 1,386 4,912 3,051
Beginning Balance (in shares) at Mar. 31, 2022   193,739,000     138,632,000    
Beginning Balance at Mar. 31, 2022       8,827 $ 1,386 4,616 2,825
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       186     186
Dividends declared on common stock (343)   $ (343) (162)     (162)
Ending Balance (in shares) at Jun. 30, 2022   193,736,000     138,632,000    
Ending Balance at Jun. 30, 2022       8,851 $ 1,386 4,616 2,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 387     363     363
Dividends declared on common stock       (161)     (161)
Capital contribution by parent company       $ 296   296  
Ending Balance (in shares) at Sep. 30, 2022 193,741,991 193,742,000   138,632,324 138,632,000    
Ending Balance at Sep. 30, 2022 $ 8,980     $ 9,349 $ 1,386 $ 4,912 $ 3,051
v3.22.2.2
Organization and Basis of Presentation
 9 Months Ended
Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Basis of Presentation ORGANIZATION AND BASIS OF PRESENTATION
Corporate Structure
DTE Energy owns the following businesses:
•DTE Electric is a public utility engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.3 million customers in southeastern Michigan;
•DTE Gas is a public utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million customers throughout Michigan and the sale of storage and transportation capacity; and
•Other businesses include (1) DTE Vantage, which is primarily involved in renewable natural gas projects and providing industrial energy services and was formerly involved in reduced emissions fuel projects until 2022, and 2) energy marketing and trading operations.
DTE Electric and DTE Gas are regulated by the MPSC. Certain activities of DTE Electric and DTE Gas, as well as various other aspects of businesses under DTE Energy, are regulated by the FERC. In addition, the Registrants are regulated by other federal and state regulatory agencies including the NRC, the EPA, EGLE, and for DTE Energy, the CFTC and CARB.
Basis of Presentation
The Consolidated Financial Statements should be read in conjunction with the Combined Notes to Consolidated Financial Statements included in the combined DTE Energy and DTE Electric 2021 Annual Report on Form 10-K.
The accompanying Consolidated Financial Statements of the Registrants are prepared using accounting principles generally accepted in the United States of America. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from the Registrants' estimates.
The Consolidated Financial Statements are unaudited but, in the Registrants' opinions, include all adjustments necessary to present a fair statement of the results for the interim periods. All adjustments are of a normal recurring nature, except as otherwise disclosed in these Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2022.
The information in these combined notes relates to each of the Registrants as noted in the Index of Combined Notes to Consolidated Financial Statements. However, DTE Electric does not make any representation as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.
Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation.
Separation of DT Midstream
On July 1, 2021, DTE Energy completed the separation of DT Midstream, its former natural gas pipeline, storage and gathering non-utility business. Financial results of DT Midstream in the prior period are presented as Income from discontinued operations, net of taxes on DTE Energy's Consolidated Statements of Operations.
No adjustments were made to the historical activity within the Consolidated Statements of Comprehensive Income, Consolidated Statements of Cash Flows, or the Consolidated Statements of Changes in Equity. Unless noted otherwise, discussion in the Notes to the Consolidated Financial Statements relate to continuing operations. Refer to Note 4 to the Consolidated Financial Statements, “Discontinued Operations,” for additional information.
Principles of Consolidation
The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the equity investment is valued at cost minus any impairments, if applicable. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions.
The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.
Legal entities within the DTE Vantage segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are generally accounted for under the equity method.
The Registrants hold ownership interests in certain limited partnerships. The limited partnerships include investment funds which support regional development and economic growth, and an operational business providing energy-related products. These entities are generally VIEs as a result of certain characteristics of the limited partnership voting rights. The ownership interests are accounted for under the equity method as the Registrants are not the primary beneficiaries.
DTE Energy has variable interests in VIEs through certain of its long-term purchase and sale contracts. DTE Electric has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2022, the carrying amount of assets and liabilities in DTE Energy's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts are predominantly related to working capital accounts and generally represent the amounts owed by or to DTE Energy for the deliveries associated with the current billing cycle under the contracts. As of September 30, 2022, the carrying amount of assets and liabilities in DTE Electric's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominantly related to working capital accounts and generally represent the amounts owed by DTE Electric for the deliveries associated with the current billing cycle under the contracts. The Registrants have not provided any significant form of financial support associated with these long-term contracts. There is no material potential exposure to loss as a result of DTE Energy's variable interests through these long-term purchase and sale contracts. In addition, there is no material potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts.
In the first quarter 2022, DTE Electric financed regulatory assets for previously deferred costs related to the River Rouge generation plant and tree trimming surge program through the sale of bonds by a wholly-owned special purpose entity, DTE Securitization. DTE Securitization is a VIE. DTE Electric has the power to direct the most significant activities of DTE Securitization, including performing servicing activities such as billing and collecting surcharge revenue. Accordingly, DTE Electric is the primary beneficiary and DTE Securitization is consolidated by the Registrants.
The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, and future funding commitments.
The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2022 and December 31, 2021. All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below.
Amounts for the Registrants' consolidated VIEs are as follows:
September 30, 2022December 31, 2021
DTE Energy
DTE Electric(a)
DTE Energy
(In millions)
ASSETS
Cash and cash equivalents$10 $— $11 
Restricted cash23 23 6 
Securitized regulatory assets214 214 — 
Notes receivable80 — 70 
Other current and long-term assets14 2 8 
$341 $239 $95 
LIABILITIES
Short-term borrowings$79 $— $75 
Securitization bonds(b)
232 232 — 
Other current and long-term liabilities17 11 5 
$328 $243 $80 
_______________________________________
(a)DTE Electric amounts reflect DTE Securitization, which was a new VIE beginning the first quarter of 2022. See Note 6 to the Consolidated Financial Statements, "Regulatory Matters."
(b)Includes $40 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the period ended September 30, 2022.
Amounts for DTE Energy's non-consolidated VIEs are as follows:
September 30, 2022December 31, 2021
(In millions)
Investments in equity method investees$141 $172 
Notes receivable$15 $13 
Future funding commitments$2 $3 
v3.22.2.2
Significant Accounting Policies
 9 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES
Other Income
The following is a summary of DTE Energy's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Contract services$7 $6 $21 $21 
Allowance for equity funds used during construction6 7 20 20 
Income from REF entities— 57 — 102 
Gains from rabbi trust securities(a)
— — — 4 
Equity earnings (losses) of equity method investees— 17 (15)31 
Other3 3 9 9 
$16 $90 $35 $187 
_______________________________________
(a)Losses from rabbi trust securities are recorded separately to Other expenses on the Consolidated Statements of Operations.
The following is a summary of DTE Electric's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Contract services$7 $6 $21 $21 
Allowance for equity funds used during construction6 6 18 18 
Gains from rabbi trust securities allocated from DTE Energy(a)
— — — 4 
Other2 2 7 9 
$15 $14 $46 $52 
_______________________________________
(a)Losses from rabbi trust securities are recorded separately to Other expenses on the Consolidated Statements of Operations.
Changes in Accumulated Other Comprehensive Income (Loss)
Comprehensive income (loss) is the change in common shareholders' equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for DTE Energy include changes in benefit obligations, consisting of deferred actuarial losses and prior service costs, unrealized gains and losses from derivatives accounted for as cash flow hedges, and foreign currency translation adjustments. DTE Energy releases income tax effects from accumulated other comprehensive income when the circumstances upon which they are premised cease to exist.
Changes in Accumulated other comprehensive income (loss) are presented in DTE Energy's Consolidated Statements of Changes in Equity and DTE Electric's Consolidated Statements of Changes in Shareholder's Equity, if any. For the three and nine months ended September 30, 2022 and 2021, reclassifications out of Accumulated other comprehensive income (loss) were not material.
Income Taxes
The interim effective tax rates of the Registrants are as follows:
Effective Tax Rate
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
DTE Energy2 %186 %— %(34)%
DTE Electric2 %12 %2 %10 %
These tax rates are affected by estimated annual permanent items, production tax credits, regulatory adjustments, and discrete items that may occur in any given period, but are not consistent from period to period. DTE Energy's effective tax rates in 2021 were significantly impacted by pre-tax losses in the third quarter, driven primarily by the loss on extinguishment of debt and reclassification of DT Midstream earnings to discontinued operations.
The 184% decrease in DTE Energy's effective tax rate for the three months ended September 30, 2022 was primarily due to a deferred tax remeasurement of 133% in 2021, production tax credits of 57%, and amortization of the TCJA regulatory liability of 32%, partially offset by a valuation allowance of 28% in 2021 and recognition of a deferred intercompany gain of 13% in 2021.
The 34% increase in DTE Energy’s effective tax rate for the nine months ended September 30, 2022 was primarily due to a deferred tax remeasurement of 23% in 2021 and closure of the REF business and resulting decrease in production tax credits of 17%, partially offset by a valuation allowance of 5% in 2021.
The 10% decrease in DTE Electric's effective tax rate for the three months ended September 30, 2022 and the 8% decrease in DTE Electric's effective tax rate for the nine months ended September 30, 2022 were primarily due to higher amortization of the TCJA regulatory liability, which was driven by the accelerated amortization approved in DTE Electric's prior year accounting applications to the MPSC.
DTE Electric had income tax receivables with DTE Energy related to federal and state taxes of $31 million and $33 million at September 30, 2022 and December 31, 2021, respectively, which are included in Accounts Receivable - Affiliates on the DTE Electric Consolidated Statements of Financial Position. DTE Electric also had income tax payables with DTE Energy related to state taxes of $2 million at December 31, 2021, which are included in Accounts Payable - Affiliates on the DTE Electric Consolidated Statements of Financial Position.
DTE Energy and DTE Electric had respective unrecognized tax benefits of $10 million and $13 million related to state exposures at September 30, 2022, which are included in Current Liabilities - Other on the Registrants' Consolidated Statements of Financial Position. Of these benefits, the Registrants believe it is reasonably possible that $8 million at DTE Energy and $9 million at DTE Electric will be recognized in the next 12 months. If recognized, these benefits would favorably impact effective tax rates and reduce tax expense in future periods by $6 million at DTE Energy and $7 million at DTE Electric, net of federal benefit.
During the third quarter 2022, the Inflation Reduction Act (IRA) was signed into law. The IRA included several new tax provisions, including a corporate alternative minimum tax and various tax incentives for energy and climate initiatives. Enactment of this legislation did not impact the Registrants' financial statements for the period ended September 30, 2022. The Registrants do not expect the legislation to have a significant impact in the near term and continue to assess any potential long-term impacts.
Unrecognized Compensation Costs
As of September 30, 2022, DTE Energy had $81 million of total unrecognized compensation cost related to non-vested stock incentive plan arrangements. That cost is expected to be recognized over a weighted-average period of 1.4 years.
Allocated Stock-Based Compensation
DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $9 million and $10 million for the three months ended September 30, 2022 and 2021, respectively, while such allocation was $30 million and $35 million for the nine months ended September 30, 2022 and 2021, respectively.
Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash includes funds held in separate bank accounts and principally consists of amounts at DTE Securitization to pay for debt service and other qualified costs. Restricted cash designated for payments within one year is classified as a Current Asset.
Financing Receivables
Financing receivables are primarily composed of trade receivables, notes receivable, and unbilled revenue. The Registrants' financing receivables are stated at net realizable value.
The Registrants monitor the credit quality of their financing receivables on a regular basis by reviewing credit quality indicators and monitoring for trigger events, such as a credit rating downgrade or bankruptcy. Credit quality indicators include, but are not limited to, ratings by credit agencies where available, collection history, collateral, counterparty financial statements and other internal metrics. Utilizing such data, the Registrants have determined three internal grades of credit quality. Internal grade 1 includes financing receivables for counterparties where credit rating agencies have ranked the counterparty as investment grade. To the extent credit ratings are not available, the Registrants utilize other credit quality indicators to determine the level of risk associated with the financing receivable. Internal grade 1 may include financing receivables for counterparties for which credit rating agencies have ranked the counterparty as below investment grade; however, due to favorable information on other credit quality indicators, the Registrants have determined the risk level to be similar to that of an investment grade counterparty. Internal grade 2 includes financing receivables for counterparties with limited credit information and those with a higher risk profile based upon credit quality indicators. Internal grade 3 reflects financing receivables for which the counterparties have the greatest level of risk, including those in bankruptcy status.
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2022.
DTE EnergyDTE Electric
Year of Origination
202220212020 and PriorTotal2022 and Prior
(In millions)
Notes receivable
Internal grade 1$— $— $21 $21 $17 
Internal grade 225 3 16 44 — 
Total notes receivable(a)
$25 $3 $37 $65 $17 
Net investment in leases
Net investment in leases, internal grade 1$— $— $38 $38 $— 
Net investment in leases, internal grade 264 — 189 253 — 
Total net investment in leases(a)
$64 $— $227 $291 $— 
_______________________________________
(a)For DTE Energy, included in Current Assets — Other and Other Assets — Notes Receivable on the Consolidated Statements of Financial Position. For DTE Electric, included in Current Assets — Other on the Consolidated Statements of Financial Position.
The allowance for doubtful accounts on accounts receivable for the utility entities is generally calculated using an aging approach that utilizes rates developed in reserve studies. DTE Electric and DTE Gas establish an allowance for uncollectible accounts based on historical losses and management's assessment of existing and future economic conditions, customer trends and other factors. Customer accounts are generally considered delinquent if the amount billed is not received by the due date, which is typically in 21 days, however, factors such as assistance programs may delay aggressive action. DTE Electric and DTE Gas generally assess late payment fees on trade receivables based on past-due terms with customers. Customer accounts are written off when collection efforts have been exhausted. The time period for write-off is 150 days after service has been terminated.
The customer allowance for doubtful accounts for non-utility businesses and other receivables for both utility and non-utility businesses is generally calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. Existing and future economic conditions, customer trends and other factors are also considered. Receivables are written off on a specific identification basis and determined based upon the specific circumstances of the associated receivable.
Notes receivable for DTE Energy are primarily comprised of finance lease receivables and loans that are included in Notes Receivable and Other current assets on DTE Energy's Consolidated Statements of Financial Position. Notes receivable for DTE Electric are primarily comprised of loans.
Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. The Registrants cease accruing interest (nonaccrual status), consider a note receivable impaired, and establish an allowance for credit loss when it is probable that all principal and interest amounts due will not be collected in accordance with the contractual terms of the note receivable. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty's ability to pay including existing and future economic conditions.
Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to the contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current.
The following tables present a roll-forward of the activity for the Registrants' financing receivables credit loss reserves:
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2022$89 $3 $92 $54 
Current period provision 41 — 41 25 
Write-offs charged against allowance(72)— (72)(47)
Recoveries of amounts previously written off34 — 34 21 
Ending reserve balance, September 30, 2022$92 $3 $95 $53 
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2021$101 $3 $104 $57 
Current period provision53 1 54 36 
Write-offs charged against allowance(126)(1)(127)(77)
Recoveries of amounts previously written off61 — 61 38 
Ending reserve balance, December 31, 2021$89 $3 $92 $54 
Uncollectible expense for the Registrants is primarily comprised of the current period provision for allowance for doubtful accounts and is summarized as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
DTE Energy$12 $7 $46 $42 
DTE Electric$12 $10 $28 $26 
There are no material amounts of past due financing receivables for the Registrants as of September 30, 2022.
v3.22.2.2
New Accounting Pronouncements
 9 Months Ended
Sep. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Pronouncements NEW ACCOUNTING PRONOUNCEMENTS
Recently Adopted Pronouncements
In July 2021, the FASB issued ASU No. 2021-05, Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments. The amendments in this update modify lease classification requirements for lessors, providing that lease contracts with variable lease payments that do not depend on a reference index or a rate should be classified as operating leases if they would have been classified as a sales-type or direct financing lease and resulted in the recognition of a selling loss at lease commencement. The Registrants adopted the ASU effective January 1, 2022 using the prospective approach. The adoption of the ASU did not have a significant impact on the Registrants' Consolidated Financial Statements.
In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update require contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. Historically, such amounts were recognized by the acquirer at fair value in acquisition accounting. The Registrants early adopted the ASU effective January 1, 2022, which had no impact on the Registrants' Consolidated Financial Statements for the current period. The Registrants will apply the guidance prospectively to any future business combinations.
Recently Issued Pronouncements
In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the Current Expected Credit Loss (“CECL”) model under ASC 326 and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. Additionally, the amendments require the disclosure of current period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2022, and interim periods therein. Early adoption is permitted. The Registrants will apply the guidance prospectively after the effective date.
In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update clarify that contractual sale restrictions should not be considered when measuring the fair value of equity securities subject to such restrictions. The amendments also require the disclosure of the fair value of such equity securities, the nature and remaining duration of the restrictions, and the circumstances leading to a lapse in the restrictions. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2023, and interim periods therein. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.
v3.22.2.2
Discontinued Operations
 9 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations DISCONTINUED OPERATIONS
Separation of DT Midstream
On July 1, 2021, DTE Energy completed the separation of DT Midstream, its former natural gas pipeline, storage, and gathering non-utility business. The table below reflects the financial results of DT Midstream that are included in discontinued operations within the Consolidated Statements of Operations. These results include the impact of tax-related adjustments and all transaction costs related to the separation. General corporate overhead costs have been excluded and no portion of corporate interest costs were allocated to discontinued operations.
Three Months Ended September 30,Nine Months Ended September 30,
20212021
(In millions)
Operating Revenues — Non-utility operations$— $405 
Operating Expenses
Cost of gas and other — non-utility— 15 
Operation and maintenance(a)
30 124 
Depreciation and amortization— 82 
Taxes other than income— 13 
Asset (gains) losses and impairments, net— 17 
30 251 
Operating Income (Loss)(30)154 
Other (Income) and Deductions
Interest expense— 50 
Interest income— (4)
Other income— (62)
— (16)
Income (Loss) from Discontinued Operations Before Income Taxes(30)170 
Income Tax Expense3 58 
Net Income (Loss) from Discontinued Operations, Net of Taxes(33)112 
Less: Net Income Attributable to Noncontrolling Interests— 6 
Net Income (Loss) from Discontinued Operations$(33)$106 
_______________________________________
(a)Includes separation transaction costs of $30 million and $59 million for the three and nine months ended September 30, 2021, respectively, for various legal, accounting and other professional services fees.
The following table is a summary of significant non-cash items and capital expenditures of discontinued operations included in DTE Energy's Consolidated Statements of Cash Flows:
Nine Months Ended September 30,
2021
(In millions)
Operating Activities
Depreciation and amortization$82 
Deferred income taxes57 
Equity earnings of equity method investees(59)
Asset (gains) losses and impairments, net19 
Investing Activities
Plant and equipment expenditures — non-utility(60)
v3.22.2.2
Revenue
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Disaggregation of Revenue
The following is a summary of revenues disaggregated by segment for DTE Energy:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Electric(a)
Residential$882 $885 $2,273 $2,262 
Commercial541 533 1,505 1,452 
Industrial167 167 498 473 
Other(b)
257 117 631 290 
Total Electric operating revenues$1,847 $1,702 $4,907 $4,477 
Gas
Gas sales$128 $95 $955 $726 
End User Transportation42 38 195 171 
Intermediate Transportation15 16 60 59 
Other(b)
45 44 148 114 
Total Gas operating revenues$230 $193 $1,358 $1,070 
Other segment operating revenues
DTE Vantage$227 $372 $626 $1,132 
Energy Trading$3,024 $1,602 $8,059 $4,208 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $3 million and $2 million of Other revenues related to DTE Sustainable Generation for the three months ended September 30, 2022 and 2021, respectively, and $11 million and $9 million for the nine months ended September 30, 2022 and 2021, respectively.
(b)Includes revenue adjustments related to various regulatory mechanisms, including the PSCR at the Electric segment and GCR at the Gas segment. Revenues related to these mechanisms may vary based on changes in the cost of fuel, purchased power, and gas.
Revenues included the following which were outside the scope of Topic 606:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Electric — Other revenues $7 $6 $15 $14 
Gas — Other revenues$2 $1 $6 $5 
DTE Vantage — Leases$24 $26 $63 $70 
Energy Trading — Derivatives$2,531 $1,324 $6,691 $3,377 
Deferred Revenue
The following is a summary of deferred revenue activity:
DTE Energy
(In millions)
Beginning Balance, January 1, 2022$78 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period86 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(54)
Ending Balance, September 30, 2022$110 
The deferred revenues at DTE Energy generally represent amounts paid by or receivable from customers for which the associated performance obligation has not yet been satisfied.
Deferred revenues include amounts associated with REC performance obligations under certain wholesale full requirements power contracts. Deferred revenues associated with RECs are recognized as revenue when control of the RECs has transferred.
Other performance obligations associated with deferred revenues include providing products and services related to customer prepayments. Deferred revenues associated with these products and services are recognized when control has transferred to the customer.
The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:
DTE Energy
(In millions)
2022$42 
202364 
20241 
20252 
2026— 
2027 and thereafter1 
$110 
Transaction Price Allocated to the Remaining Performance Obligations
In accordance with optional exemptions available under Topic 606, the Registrants did not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Registrants have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation.
Such contracts consist of varying types of performance obligations across the segments, including the supply and delivery of energy related products and services. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Contract lengths vary from cancellable to multi-year.
The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:
DTE EnergyDTE Electric
(In millions)
2022$43 $2 
2023292 7 
2024192 7 
2025118 1 
202667 — 
2027 and thereafter355 — 
$1,067 $17 
v3.22.2.2
Regulatory Matters
 9 Months Ended
Sep. 30, 2022
Public Utilities, General Disclosures [Abstract]  
Regulatory Matters REGULATORY MATTERS
2021 Securitization Filing
On June 23, 2021, the MPSC issued a financing order authorizing DTE Electric to issue Securitization bonds for qualified costs of up to $236 million, including $73 million for the net book value of the River Rouge generation plant, $157 million for tree trimming surge program costs, and $6 million for other qualified costs. The financing order further authorized customer charges for the timely recovery of the debt service costs on the Securitization bonds and other ongoing qualified costs.
On March 17, 2022, DTE Electric closed on the issuance of Securitization bonds of $236 million. Refer to Note 10 to the Consolidated Financial Statements, “Long-Term Debt,” for additional information regarding the terms of the bonds and use of proceeds. Upon closing the transaction, DTE Electric recognized Securitized regulatory assets of $230 million, which were reclassified from existing Regulatory assets for the net book value of the River Rouge plant and tree trimming surge program. Debt service costs relating to tree trimming will be recovered over a period not to exceed 5 years, while amounts relating to River Rouge will be recovered over a period not to exceed 14 years.
2022 Electric Rate Case Filing
DTE Electric filed a rate case with the MPSC on January 21, 2022 requesting an increase in base rates of $388 million based on a projected twelve-month period ending October 31, 2023. The requested increase in base rates is primarily due to an increase in net plant resulting from generation and distribution investments, as well as related increases to depreciation and property tax expenses. The rate filing also requested an increase in return on equity from 9.9% to 10.25% and includes projected changes in sales. A final MPSC order in this case is expected in November 2022.
v3.22.2.2
Earnings Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
Basic earnings per share is calculated by dividing net income, adjusted for income allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares. DTE Energy’s participating securities are restricted shares under the stock incentive program that contain rights to receive non-forfeitable dividends. Equity units and performance shares do not receive cash dividends; as such, these awards are not considered participating securities.
The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company — continuing operations$387 $58 $818 $495 
Less: Allocation of earnings to net restricted stock awards1 — 2 1 
$386 $58 $816 $494 
Net Income Attributable to DTE Energy Company — discontinued operations— (33)— 106 
Net income available to common shareholders — basic$386 $25 $816 $600 
Average number of common shares outstanding — basic193 193 193 193 
Income from continuing operations$2.00 $0.30 $4.22 $2.55 
Income from discontinued operations— (0.17)— 0.55 
Basic Earnings per Common Share$2.00 $0.13 $4.22 $3.10 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company — continuing operations$387 $58 $818 $495 
Less: Allocation of earnings to net restricted stock awards1 — 2 1 
$386 $58 $816 $494 
Net Income Attributable to DTE Energy Company — discontinued operations— (33)— 106 
Net income available to common shareholders — diluted$386 $25 $816 $600 
Average number of common shares outstanding — basic193 193 193 193 
Average dilutive equity units and performance share awards1 1 1 1 
Average number of common shares outstanding — diluted194 194 194 194 
Income from continuing operations$1.99 $0.30 $4.21 $2.55 
Income from discontinued operations— (0.17)— 0.55 
Diluted Earnings per Common Share(a)
$1.99 $0.13 $4.21 $3.10 
_______________________________________
(a)Equity units excluded from the calculation of diluted EPS were approximately 10.1 million and 11.1 million for the three months ended September 30, 2022 and 2021, respectively, and 10.2 million and 11.5 million for the nine months ended September 30, 2022 and 2021, respectively, as the dilutive stock price threshold was not met.
v3.22.2.2
Fair Value
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value FAIR VALUE
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Registrants make certain assumptions they believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. Credit risk of the Registrants and their counterparties is incorporated in the valuation of assets and liabilities through the use of credit reserves, the impact of which was immaterial at September 30, 2022 and December 31, 2021. The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs.
A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows:
•Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date.
•Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.
•Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints.
The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis:
September 30, 2022December 31, 2021
Level
1		Level
2		Level
3
Other(a)
Netting(b)
Net BalanceLevel
1		Level
2		Level
3
Other(a)
Netting(b)
Net Balance
(In millions)
Assets
Cash equivalents(c)
$26 $— $— $— $— $26 $4 $— $— $— $— $4 
Nuclear decommissioning trusts
Equity securities653 — — 155 — 808 917 — — 190 — 1,107 
Fixed income securities102 357 — 91 — 550 124 418 — 102 — 644 
Private equity and other— — — 259 — 259 — — — 205 — 205 
Hedge funds and similar investments77 41 — — — 118 58 18 — — — 76 
Cash equivalents29 — — — — 29 39 — — — — 39 
Other investments(d)
Equity securities52 — — — — 52 68 — — — — 68 
Fixed income securities7 — — — — 7 7 — — — — 7 
Cash equivalents71 — — — — 71 86 — — — — 86 
Derivative assets
Commodity contracts(e)
Natural gas554 233 104 — (852)39 273 115 66 — (394)60 
Electricity— 1,185 437 — (1,160)462 — 500 143 — (441)202 
Environmental & Other— 222 16 — (224)14 — 285 9 — (285)9 
Foreign currency exchange contracts— 3 — — — 3 — — — — — — 
Total derivative assets554 1,643 557 — (2,236)518 273 900 218 — (1,120)271 
Total$1,571 $2,041 $557 $505 $(2,236)$2,438 $1,576 $1,336 $218 $497 $(1,120)$2,507 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(293)$(483)$(417)$— $772 $(421)$(177)$(172)$(245)$— $347 $(247)
Electricity— (1,064)(513)— 1,244 (333)— (434)(188)— 443 (179)
Environmental & Other— (224)(1)— 226 1 — (288)— — 288 — 
Foreign currency exchange contracts— (1)— — — (1)— (4)— — — (4)
Total$(293)$(1,772)$(931)$— $2,242 $(754)$(177)$(898)$(433)$— $1,078 $(430)
Net Assets (Liabilities) at end of period$1,278 $269 $(374)$505 $6 $1,684 $1,399 $438 $(215)$497 $(42)$2,077 
Assets
Current$453 $1,340 $442 $— $(1,814)$421 $227 $646 $166 $— $(854)$185 
Noncurrent1,118 701 115 505 (422)2,017 1,349 690 52 497 (266)2,322 
Total Assets$1,571 $2,041 $557 $505 $(2,236)$2,438 $1,576 $1,336 $218 $497 $(1,120)$2,507 
Liabilities
Current$(263)$(1,382)$(637)$— $1,784 $(498)$(168)$(609)$(260)$— $799 $(238)
Noncurrent(30)(390)(294)— 458 (256)(9)(289)(173)— 279 (192)
Total Liabilities$(293)$(1,772)$(931)$— $2,242 $(754)$(177)$(898)$(433)$— $1,078 $(430)
Net Assets (Liabilities) at end of period$1,278 $269 $(374)$505 $6 $1,684 $1,399 $438 $(215)$497 $(42)$2,077 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.
(c)Amounts include $25 million and $1 million of cash equivalents recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at September 30, 2022 and December 31, 2021, respectively. All other amounts are included in Cash and cash equivalents on DTE Energy's Consolidated Statements of Financial Position.
(d)Excludes cash surrender value of life insurance investments.
(e)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of:
September 30, 2022December 31, 2021
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(b)
$23 $— $— $— $23 $— $— $— $— $— 
Nuclear decommissioning trusts
Equity securities653 — — 155 808 917 — — 190 1,107 
Fixed income securities102 357 — 91 550 124 418 — 102 644 
Private equity and other— — — 259 259 — — — 205 205 
Hedge funds and similar investments77 41 — — 118 58 18 — — 76 
Cash equivalents29 — — — 29 39 — — — 39 
Other investments
Equity securities15 — — — 15 20 — — — 20 
Cash equivalents11 — — — 11 11 — — — 11 
Derivative assets — FTRs— — 16 — 16 — — 9 — 9 
Total$910 $398 $16 $505 $1,829 $1,169 $436 $9 $497 $2,111 
Assets
Current$23 $— $16 $— $39 $— $— $9 $— $9 
Noncurrent887 398 — 505 1,790 1,169 436 — 497 2,102 
Total Assets$910 $398 $16 $505 $1,829 $1,169 $436 $9 $497 $2,111 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Cash equivalents of $23 million are included in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at September 30, 2022.
Cash Equivalents
Cash equivalents include investments with maturities of three months or less when purchased. The cash equivalents shown in the fair value table are comprised of short-term investments and money market funds.
Nuclear Decommissioning Trusts and Other Investments
The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly, as well as publicly-traded commingled funds, are valued using quoted market prices in actively traded markets. Non-exchange traded fixed income securities are valued based upon quotations available from brokers or pricing services.
Non-publicly traded commingled funds holding exchange-traded equity or debt securities are valued based on stated NAVs. There are no significant restrictions for these funds and investments may be redeemed with 7 to 65 days notice depending on the fund. There is no intention to sell the investment in these commingled funds.
Private equity and other assets include a diversified group of funds that are classified as NAV assets. These funds primarily invest in limited partnerships, including private equity, private real estate and private credit. Distributions are received through the liquidation of the underlying fund assets over the life of the funds. There are generally no redemption rights. The limited partner must hold the fund for its life or find a third-party buyer, which may need to be approved by the general partner. The funds are established with varied contractual durations generally in the range of 7 years to 12 years. The fund life can often be extended by several years by the general partner, and further extended with the approval of the limited partners. Unfunded commitments related to these investments totaled $190 million and $199 million as of September 30, 2022 and December 31, 2021, respectively.
Hedge funds and similar investments utilize a diversified group of strategies that attempt to capture uncorrelated sources of return. These investments include publicly traded mutual funds that are valued using quoted prices in actively traded markets, as well as insurance-linked and asset-backed securities that are valued using quotations from broker or pricing services.
For pricing the nuclear decommissioning trusts and other investments, a primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary source of a given security if the trustee determines that another price source is considered preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.
Derivative Assets and Liabilities
Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy.
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy:
Three Months Ended September 30, 2022Three Months Ended September 30, 2021
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of June 30$(362)$(96)$30 $(428)$(181)$(49)$15 $(215)
Transfers into Level 3 from Level 2(3)— — (3)— — — — 
Transfers from Level 3 into Level 2— — (5)(5)— — — — 
Total gains (losses)
Included in earnings(a)
(32)40 (1)7 (162)(21)— (183)
Recorded in Regulatory liabilities— — (4)(4)— — (1)(1)
Purchases, issuances, and settlements
Settlements84 (20)(5)59 63 (25)(2)36 
Net Assets (Liabilities) as of September 30$(313)$(76)$15 $(374)$(280)$(95)$12 $(363)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30(a)
$29 $37 $(5)$61 $(109)$(30)$(2)$(141)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $(1)$(1)$— $— $— $— 
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
Nine Months Ended September 30, 2022Nine Months Ended September 30, 2021
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$(179)$(45)$9 $(215)$(16)$10 $4 $(2)
Transfers from Level 3 into Level 25 — — 5 — — — — 
Total gains (losses)
Included in earnings(a)
(382)22 1 (359)(356)(5)— (361)
Recorded in Regulatory liabilities— — 20 20 — — 14 14 
Purchases, issuances, and settlements
Settlements243 (53)(15)175 92 (100)(6)(14)
Net Assets (Liabilities) as of September 30$(313)$(76)$15 $(374)$(280)$(95)$12 $(363)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30(a)
$(248)$(2)$(31)$(281)$(301)$(54)$(17)$(372)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $16 $16 $— $— $12 $12 
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Net Assets as of beginning of period$25 $15 $9 $4 
Total gains (losses) recorded in Regulatory liabilities(4)(1)20 14 
Purchases, issuances, and settlements
Settlements(5)(2)(13)(6)
Net Assets as of September 30$16 $12 $16 $12 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$(1)$— $16 $12 
Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period. There were no transfers from or into Level 3 for DTE Electric during the three and nine months ended months ended September 30, 2022 and 2021.
The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:
September 30, 2022
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$104 $(417)Discounted Cash FlowForward basis price (per MMBtu)$(2.34)—$9.94 /MMBtu$0.02 /MMBtu
Electricity$437 $(513)Discounted Cash FlowForward basis price (per MWh)$(50)—$20 /MWh$(4)/MWh
December 31, 2021
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$66 $(245)Discounted Cash FlowForward basis price (per MMBtu)$(1.36)—$3.82 /MMBtu$(0.04)/MMBtu
Electricity$143 $(188)Discounted Cash FlowForward basis price (per MWh)$(12)—$7 /MWh$(2)/MWh
The unobservable inputs used in the fair value measurement of the electricity and natural gas commodity types consist of inputs that are less observable due in part to lack of available broker quotes, supported by little, if any, market activity at the measurement date or are based on internally developed models. Certain basis prices (i.e., the difference in pricing between two locations) included in the valuation of natural gas and electricity contracts were deemed unobservable. The weighted average price for unobservable inputs was calculated using the average of forward price curves for natural gas and electricity and the absolute value of monthly volumes.
The inputs listed above would have had a direct impact on the fair values of the above security types if they were adjusted. A significant increase (decrease) in the basis price would have resulted in a higher (lower) fair value for long positions, with offsetting impacts to short positions.
Fair Value of Financial Instruments
The following table presents the carrying amount and fair value of financial instruments for DTE Energy:
September 30, 2022December 31, 2021
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$65 $— $— $65 $150 $— $— $167 
Short-term borrowings$994 $— $994 $— $758 $— $758 $— 
Notes payable(b)
$17 $— $— $17 $27 $— $— $27 
Long-term debt(c)
$18,846 $731 $14,776 $1,189 $17,378 $2,284 $15,425 $1,207 
_______________________________________
(a)Current portion included in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
The following table presents the carrying amount and fair value of financial instruments for DTE Electric:
September 30, 2022December 31, 2021
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$17 $— $— $17 $17 $— $— $17 
Short-term borrowings — affiliates$78 $— $— $78 $53 $— $— $53 
Short-term borrowings — other$459 $— $459 $— $153 $— $153 $— 
Notes payable(b)
$17 $— $— $17 $27 $— $— $27 
Long-term debt(c)
$9,714 $— $8,191 $133 $8,907 $— $9,898 $150 
_______________________________________
(a)Included in Current Assets — Other on DTE Electric's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
For further fair value information on financial and derivative instruments, see Note 9 to the Consolidated Financial Statements, "Financial and Other Derivative Instruments."
Nuclear Decommissioning Trust Funds
DTE Electric has a legal obligation to decommission its nuclear power plants following the expiration of its operating licenses. This obligation is reflected as an Asset retirement obligation on DTE Electric's Consolidated Statements of Financial Position. Rates approved by the MPSC provide for the recovery of decommissioning costs of Fermi 2 and the disposal of low-level radioactive waste.
The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:
September 30, 2022December 31, 2021
(In millions)
Fermi 2$1,742 $2,051 
Fermi 13 3 
Low-level radioactive waste19 17 
$1,764 $2,071 
The costs of securities sold are determined on the basis of specific identification. The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Realized gains$19 $21 $65 $80 
Realized losses$(19)$(1)$(42)$(9)
Proceeds from sale of securities$194 $217 $707 $854 
Realized gains and losses from the sale of securities and unrealized gains and losses incurred by the Fermi 2 trust are recorded to Regulatory assets and the Nuclear decommissioning liability. Realized gains and losses from the sale of securities and unrealized gains and losses on the low-level radioactive waste funds are recorded to the Nuclear decommissioning liability.
The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:
September 30, 2022December 31, 2021
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$808 $285 $(31)$1,107 $546 $(9)
Fixed income securities550 1 (65)644 23 (6)
Private equity and other259 72 (4)205 58 (8)
Hedge funds and similar investments118 — (20)76 1 (2)
Cash equivalents29 — — 39 — — 
$1,764 $358 $(120)$2,071 $628 $(25)
The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:
September 30, 2022
(In millions)
Due within one year$22 
Due after one through five years105 
Due after five through ten years92 
Due after ten years240 
$459 
Fixed income securities held in nuclear decommissioning trust funds include $91 million of non-publicly traded commingled funds that do not have a contractual maturity date.
Other Securities
At September 30, 2022 and December 31, 2021, DTE Energy's securities included in Other investments on the Consolidated Statements of Financial Position were comprised primarily of investments within DTE Energy's rabbi trust. The rabbi trust was established to fund certain non-qualified pension benefits, and therefore changes in market value are recognized in earnings. Gains and losses are allocated from DTE Energy to DTE Electric and are included in Other Income or Other Expense, respectively, in the Registrants' Consolidated Statements of Operations. The following table summarizes the Registrant's gains (losses) related to the trust:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Gains (losses) related to equity securities$(2)$(1)$(7)$3 
Gains (losses) related to fixed income securities— — (1)— 
$(2)$(1)$(8)$3 
v3.22.2.2
Financial and Other Derivative Instruments
 9 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial and Other Derivative Instruments FINANCIAL AND OTHER DERIVATIVE INSTRUMENTS
The Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the derivative gain or loss is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period.
The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain environmental contracts, forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas and environmental inventory, pipeline transportation contracts, certain environmental contracts, and natural gas storage assets.
DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized.
DTE Gas — DTE Gas purchases, stores, transports, distributes, and sells natural gas, and buys and sells transportation and storage capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2025. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method.
DTE Vantage — This segment manages and operates renewable gas recovery projects, industrial energy projects, and power generation assets. Long-term contracts and hedging instruments are used in the marketing and management of the segment assets. These contracts and hedging instruments are generally not derivatives and are therefore accounted for under the accrual method.
Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. Energy Trading enters into these contracts to mitigate price volatility with respect to fluctuations of the Canadian dollar relative to the U.S. dollar. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Corporate and Other — Interest Rate Risk — DTE Energy may use interest rate swaps, treasury locks, and other derivatives to hedge the risk associated with interest rate market volatility.
Credit Risk — DTE Energy maintains credit policies that significantly minimize overall credit risk. These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees. DTE Energy generally uses standardized agreements that allow the netting of positive and negative transactions associated with a single counterparty. DTE Energy maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends, and other information. Based on DTE Energy's credit policies and its September 30, 2022 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements.
Derivative Activities
DTE Energy manages its MTM risk on a portfolio basis based upon the delivery period of its contracts and the individual components of the risks within each contract. Accordingly, it records and manages the energy purchase and sale obligations under its contracts in separate components based on the commodity (e.g. electricity or natural gas), the product (e.g. electricity for delivery during peak or off-peak hours), the delivery location (e.g. by region), the risk profile (e.g. forward or option), and the delivery period (e.g. by month and year). The following describes the categories of activities represented by their operating characteristics and key risks:
•Asset Optimization — Represents derivative activity associated with assets owned and contracted by DTE Energy, including forward natural gas purchases and sales, natural gas transportation, and storage capacity. Changes in the value of derivatives in this category typically economically offset changes in the value of underlying non-derivative positions, which do not qualify for fair value accounting. The difference in accounting treatment of derivatives in this category and the underlying non-derivative positions can result in significant earnings volatility.
•Marketing and Origination — Represents derivative activity transacted by originating substantially hedged positions with wholesale energy marketers, producers, end-users, utilities, retail aggregators, and alternative energy suppliers.
•Fundamentals Based Trading — Represents derivative activity transacted with the intent of taking a view, capturing market price changes, or putting capital at risk. This activity is speculative in nature as opposed to hedging an existing exposure.
•Other — Includes derivative activity at DTE Electric related to FTRs. Changes in the value of derivative contracts at DTE Electric are recorded as Derivative assets or liabilities, with an offset to Regulatory assets or liabilities as the settlement value of these contracts will be included in the PSCR mechanism when realized.
The following table presents the fair value of derivative instruments for DTE Energy:
September 30, 2022December 31, 2021
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
Foreign currency exchange contracts$— $(1)$— $(4)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$891 $(1,193)$454 $(594)
Electricity1,622 (1,577)643 (622)
Environmental & Other238 (225)294 (288)
Foreign currency exchange contracts3 — — — 
Total derivatives not designated as hedging instruments$2,754 $(2,995)$1,391 $(1,504)
Current$2,209 $(2,282)$1,035 $(1,037)
Noncurrent545 (714)356 (471)
Total derivatives$2,754 $(2,996)$1,391 $(1,508)
The fair value of derivative instruments at DTE Electric was $16 million and $9 million at September 30, 2022 and December 31, 2021, respectively, comprised of FTRs recorded to Current Assets - Other on the Consolidated Statements of Financial Position and not designated as hedging instruments.
Certain of DTE Energy's derivative positions are subject to netting arrangements which provide for offsetting of asset and liability positions as well as related cash collateral. Such netting arrangements generally do not have restrictions. Under such netting arrangements, DTE Energy offsets the fair value of derivative instruments with cash collateral received or paid for those contracts executed with the same counterparty, which reduces DTE Energy's Total Assets and Liabilities. Cash collateral is allocated between the fair value of derivative instruments and customer accounts receivable and payable with the same counterparty on a pro-rata basis to the extent there is exposure. Any cash collateral remaining, after the exposure is netted to zero, is reflected in Accounts receivable and Accounts payable as collateral paid or received, respectively.
DTE Energy also provides and receives collateral in the form of letters of credit which can be offset against net Derivative assets and liabilities as well as Accounts receivable and payable. DTE Energy had $79 million of letters of credit issued and outstanding at September 30, 2022 and $18 million at December 31, 2021, which could be used to offset net Derivative liabilities. Letters of credit received from third parties which could be used to offset net Derivative assets were $56 million and $37 million at September 30, 2022 and December 31, 2021, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.
For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2022December 31, 2021
(In millions)
Cash collateral netted against Derivative assets$(272)$(90)
Cash collateral netted against Derivative liabilities278 48 
Cash collateral recorded in Accounts receivable(a)
103 55 
Cash collateral recorded in Accounts payable(a)
(19)(21)
Total net cash collateral posted (received)$90 $(8)
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2022December 31, 2021
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$891 $(852)$39 $454 $(394)$60 
Electricity1,622 (1,160)462 643 (441)202 
Environmental & Other238 (224)14 294 (285)9 
Foreign currency exchange contracts3 — 3 — — — 
Total derivative assets$2,754 $(2,236)$518 $1,391 $(1,120)$271 
Derivative liabilities
Commodity contracts(a)
Natural gas$(1,193)$772 $(421)$(594)$347 $(247)
Electricity(1,577)1,244 (333)(622)443 (179)
Environmental & Other(225)226 1 (288)288 — 
Foreign currency exchange contracts(1)— (1)(4)— (4)
Total derivative liabilities$(2,996)$2,242 $(754)$(1,508)$1,078 $(430)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position:
September 30, 2022December 31, 2021
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$2,209 $545 $(2,282)$(714)$1,035 $356 $(1,037)$(471)
Counterparty netting(1,609)(355)1,609 355 (791)(239)791 239 
Collateral adjustment(205)(67)175 103 (63)(27)8 40 
Total derivatives as reported$395 $123 $(498)$(256)$181 $90 $(238)$(192)
The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows:
Location of Gain (Loss) Recognized in Income on DerivativesGain (Loss) Recognized in Income on Derivatives for the Three Months Ended September 30,Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
2022202120222021
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(52)$(214)$(315)$(371)
Natural gasFuel, purchased power, gas, and other — non-utility108 63 8 (16)
ElectricityOperating Revenues — Non-utility operations61 68 173 143 
Environmental & OtherOperating Revenues — Non-utility operations(3)3 15 (36)
Foreign currency exchange contractsOperating Revenues — Non-utility operations5 2 5 (1)
Total$119 $(78)$(114)$(281)
Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, gas, and other — non-utility.
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2022:
CommodityNumber of Units
Natural gas (MMBtu)2,218,333,992 
Electricity (MWh)30,593,651 
Oil (Gallons)8,532,000 
Foreign currency exchange ($ CAD)132,812,314 
Renewable Energy Certificates (MWh)7,816,573 
Carbon emissions (Metric Tons)592,605 
Various subsidiaries of DTE Energy have entered into contracts which contain ratings triggers and are guaranteed by DTE Energy. These contracts contain provisions which allow the counterparties to require that DTE Energy post cash or letters of credit as collateral in the event that DTE Energy’s credit rating is downgraded below investment grade. Certain of these provisions (known as "hard triggers") state specific circumstances under which DTE Energy can be required to post collateral upon the occurrence of a credit downgrade, while other provisions (known as "soft triggers") are not as specific. For contracts with soft triggers, it is difficult to estimate the amount of collateral which may be requested by counterparties and/or which DTE Energy may ultimately be required to post. The amount of such collateral which could be requested fluctuates based on commodity prices (primarily natural gas, power, environmental, and coal) and the provisions and maturities of the underlying transactions. As of September 30, 2022, DTE Energy's contractual obligation to post collateral in the form of cash or letters of credit in the event of a downgrade to below investment grade, under both hard trigger and soft trigger provisions, was $699 million.
As of September 30, 2022, DTE Energy had $2.6 billion of derivatives in net liability positions, for which hard triggers exist. There is $287 million of collateral that has been posted against such liabilities, including cash and letters of credit. Associated derivative net asset positions for which contractual offset exists were $1.9 billion. The net remaining amount of $351 million is derived from the $699 million noted above.
v3.22.2.2
Long-Term Debt
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
Debt Issuances
In 2022, the following debt was issued:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricFebruary
Mortgage bonds(a)
3.00%2032$500 
DTE ElectricFebruary
Mortgage bonds(b)
3.65%2052400 
DTE ElectricMarch
Securitization bonds(c)
2.64%
2027(d)
184 
DTE ElectricMarch
Securitization bonds(c)
3.11%
2036(e)
52 
DTE EnergyAugustTerm loan facilityVariable2023400 
DTE GasSeptember
Mortgage bonds(a)
4.76%2032130 
DTE GasSeptember
Mortgage bonds(a)
5.05%2052130 
$1,796 
_______________________________________
(a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.
(b)Bonds were issued as Green Bonds with proceeds to be used for eligible green expenditures, including costs related to the generation of solar and wind energy, purchases of renewable energy from wind and solar power facilities, and energy optimization programs.
(c)Proceeds were used to reimburse DTE Electric for qualified costs previously incurred, including the net book value of the River Rouge generation plant, tree trimming surge program costs, and other qualified costs. The securitization financing order from the MPSC required that the net proceeds be subsequently applied by DTE Electric to retire existing debt or equity. Accordingly, DTE Electric used proceeds of $115 million towards retirement of the 2012 Series A Mortgage bonds noted in the Debt Redemptions table below and issued a one-time special dividend of $115 million to DTE Energy. Refer to Note 6 to the Consolidated Financial Statements, “Regulatory Matters,” for additional information
(d)Principal payments on the bonds will be made semi-annually beginning December 2022, with the final payment scheduled for December 2026.
(e)Principal payments on the bonds will be made semi-annually beginning June 2027, with the final payment scheduled for December 2035.
In June 2022, DTE Energy entered into a $1.125 billion unsecured term loan with a maturity date of December 2023. DTE Energy had mandatory draw obligations of at least $400 million within sixty days of closing and a total of $800 million within six months of closing. DTE Energy complied with the initial obligation and drew $400 million in August 2022, as noted in the table above. Borrowings are being recorded as long-term debt, given the term of the loan exceeds one year. Borrowings are for the general corporate purposes of DTE Energy and its subsidiaries, bearing interest at SOFR plus 0.90% per annum. Any unused capacity under the loan will terminate if not drawn by June 24, 2023.
Other terms of the loan are consistent with DTE Energy's unsecured revolving credit agreements. Refer to Note 11 to the Consolidated Financial Statements, "Short-term Credit Arrangements and Borrowings", for additional information regarding the unsecured revolving credit agreements.
Debt Redemptions
In 2022, the following debt was redeemed:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricMarchMortgage bonds2.65%2022$250 
DTE ElectricSeptemberMortgage Bonds6.95%202266 
$316 
Remarketable Senior Notes
In November 2019, DTE Energy issued $1.3 billion of equity units, initially in the form of Corporate Units. Each Corporate Unit consisted of a stock purchase contract and a 1/20 interest in a RSN issued by DTE Energy. The stock purchase contracts obligated the holders to purchase shares of DTE Energy's common stock at a future settlement date. The RSNs were pledged as collateral to secure the purchase of common stock under the related stock purchase contracts.
In August 2022, DTE Energy remarketed the $1.3 billion 2019 Series F 2.25% RSNs pursuant to the terms of the 2019 equity units. DTE Energy elected to pull forward the maturity of the notes to November 1, 2024, compared to the original maturity date of November 1, 2025. As a result of the remarketing, the interest rate was reset to 4.22%, payable semi-annually at the new rate beginning August 8, 2022. At September 30, 2022, the notes are included in Mortgage, bonds, notes and other within DTE Energy's Consolidated Statements of Financial Position.
DTE Energy did not receive any proceeds for the remarketing. All proceeds belong to the investors holding the 2019 equity units and were temporarily used to purchase a portfolio of treasury securities. The securities will be released on behalf of investors on the related stock purchase contracts settlement date of November 1, 2022 to pay the purchase price to DTE Energy for the issuance of common stock. Under the terms of the stock purchase contracts, assuming no anti-dilution or other adjustments, DTE Energy would issue between 9.8 million and 12.2 million shares of its common stock in November 2022. At this time, and in consideration of changes in stock price during October 2022, DTE Energy estimates that approximately 12 million shares will be issued.
v3.22.2.2
Short-Term Credit Arrangements and Borrowings
 9 Months Ended
Sep. 30, 2022
Short-Term Debt [Abstract]  
Short-Term Credit Arrangements and Borrowings SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS
DTE Energy, DTE Electric, and DTE Gas have unsecured revolving credit agreements that can be used for general corporate borrowings, but are intended to provide liquidity support for each of the companies’ commercial paper programs. Borrowings under the revolvers are available at prevailing short-term interest rates. DTE Energy also has other facilities to support letter of credit issuance.
In June 2022, DTE Energy increased its $70 million letter of credit facility to $375 million and amended the maturity date from July 2023 to June 2023. The facility will support general corporate purposes and has terms consistent with the unsecured revolving credit agreements.
The unsecured revolving credit agreements currently require a total funded debt to capitalization ratio of no more than 0.70 to 1 for DTE Energy and 0.65 to 1 for DTE Electric and DTE Gas. In the agreements, "total funded debt" means all indebtedness of each respective company and their consolidated subsidiaries, including finance lease obligations, hedge agreements, and guarantees of third parties’ debt, but excluding contingent obligations, nonrecourse and junior subordinated debt, and certain equity-linked securities and, except for calculations at the end of the second quarter, certain DTE Gas short-term debt. "Capitalization" means the sum of (a) total funded debt plus (b) "consolidated net worth," which is equal to consolidated total equity of each respective company and their consolidated subsidiaries (excluding pension effects under certain FASB statements), as determined in accordance with accounting principles generally accepted in the United States of America. At September 30, 2022, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.68 to 1, 0.52 to 1, and 0.50 to 1, respectively, and were in compliance with this financial covenant.
The availability under these facilities as of September 30, 2022 is shown in the following table:
DTE EnergyDTE ElectricDTE GasTotal
(In millions)
Unsecured revolving credit facility, expiring April 2026$1,500 $500 $300 $2,300 
Unsecured Canadian revolving credit facility, expiring May 202379 — — 79 
Unsecured letter of credit facility, expiring February 2023150 — — 150 
Unsecured letter of credit facility, expiring June 2023375 — — 375 
Unsecured letter of credit facility(a)
50 — — 50 
2,154 500 300 2,954 
Amounts outstanding at September 30, 2022
Revolver borrowings79 — — 79 
Commercial paper issuances326 459 130 915 
Letters of credit338 — — 338 
743 459 130 1,332 
Net availability at September 30, 2022$1,411 $41 $170 $1,622 
_______________________________________
(a)Uncommitted letter of credit facility with automatic renewal provision for each July and therefore no expiration.
In October 2022, the unsecured revolving credit agreements were amended and the maturity date was extended from April 2026 to October 2027. The amendment increased the total availability of DTE Energy's unsecured revolving credit facility from $2.3 billion to $2.6 billion, including an increase from $500 million to $800 million at DTE Electric. Current financial covenants relating to total funded debt to capitalization ratios will remain through the maturity date, and the facility will continue to provide liquidity support for the Registrants' commercial paper programs.
In conjunction with maintaining certain exchange-traded risk management positions, DTE Energy may be required to post collateral with its clearing agents. DTE Energy has demand financing agreements with its clearing agents, including agreements for up to $50 million and for up to $150 million. The $50 million agreement, as amended, also allows for up to $50 million of additional margin financing provided that DTE Energy posts a letter of credit for the incremental amount. Both agreements allow the right of setoff with posted collateral. At September 30, 2022, the capacity under the facilities was $250 million. The amounts outstanding under the agreements were $191 million and $103 million at September 30, 2022 and December 31, 2021, respectively, and were fully offset by the posted collateral.
v3.22.2.2
Leases
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Leases LEASES
Lessor
During the first quarter 2022, DTE Energy completed construction of and began operating certain energy infrastructure assets for a large industrial customer under a long-term agreement, where the assets will transfer to the customer at the end of the contract term in 2040. DTE Energy has accounted for a portion of the agreement as a finance lease arrangement, recognizing an additional net investment of $33 million.
During the third quarter 2022, DTE Energy completed construction of and began operating energy infrastructure assets for another large industrial customer in Canada. Under the long-term agreement, the customer will have the option to purchase the assets at the end of the initial contract term in 2042. The customer may also elect to extend the term in 5 year increments and may purchase the assets during the extension period. DTE Energy has accounted for a portion of the agreement as a finance lease arrangement, recognizing an additional net investment of $64 million, subject to foreign currency translation adjustments.
The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
DTE Energy
September 30, 2022
(In millions)
2022$9 
202334 
202434 
202534 
202633 
2027 and Thereafter451 
Total minimum future lease receipts595 
Residual value of leased pipeline17 
Less unearned income321 
Net investment in finance lease291 
Less current portion7 
$284 
Interest income recognized under finance leases was $6 million and $4 million for the three months ended September 30, 2022 and 2021, respectively, and $17 million and $13 million for the nine months ended September 30, 2022 and 2021, respectively.
DTE Energy’s lease income associated with operating leases, including the line items in which it was included on the Consolidated Statements of Operations, was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Fixed payments$3 $13 $11 $42 
Variable payments21 55 52 90 
$24 $68 $63 $132 
Operating revenues$24 $26 $63 $70 
Other income— 42 — 62 
$24 $68 $63 $132 
Leases LEASES
Lessor
During the first quarter 2022, DTE Energy completed construction of and began operating certain energy infrastructure assets for a large industrial customer under a long-term agreement, where the assets will transfer to the customer at the end of the contract term in 2040. DTE Energy has accounted for a portion of the agreement as a finance lease arrangement, recognizing an additional net investment of $33 million.
During the third quarter 2022, DTE Energy completed construction of and began operating energy infrastructure assets for another large industrial customer in Canada. Under the long-term agreement, the customer will have the option to purchase the assets at the end of the initial contract term in 2042. The customer may also elect to extend the term in 5 year increments and may purchase the assets during the extension period. DTE Energy has accounted for a portion of the agreement as a finance lease arrangement, recognizing an additional net investment of $64 million, subject to foreign currency translation adjustments.
The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
DTE Energy
September 30, 2022
(In millions)
2022$9 
202334 
202434 
202534 
202633 
2027 and Thereafter451 
Total minimum future lease receipts595 
Residual value of leased pipeline17 
Less unearned income321 
Net investment in finance lease291 
Less current portion7 
$284 
Interest income recognized under finance leases was $6 million and $4 million for the three months ended September 30, 2022 and 2021, respectively, and $17 million and $13 million for the nine months ended September 30, 2022 and 2021, respectively.
DTE Energy’s lease income associated with operating leases, including the line items in which it was included on the Consolidated Statements of Operations, was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Fixed payments$3 $13 $11 $42 
Variable payments21 55 52 90 
$24 $68 $63 $132 
Operating revenues$24 $26 $63 $70 
Other income— 42 — 62 
$24 $68 $63 $132 
Leases LEASES
Lessor
During the first quarter 2022, DTE Energy completed construction of and began operating certain energy infrastructure assets for a large industrial customer under a long-term agreement, where the assets will transfer to the customer at the end of the contract term in 2040. DTE Energy has accounted for a portion of the agreement as a finance lease arrangement, recognizing an additional net investment of $33 million.
During the third quarter 2022, DTE Energy completed construction of and began operating energy infrastructure assets for another large industrial customer in Canada. Under the long-term agreement, the customer will have the option to purchase the assets at the end of the initial contract term in 2042. The customer may also elect to extend the term in 5 year increments and may purchase the assets during the extension period. DTE Energy has accounted for a portion of the agreement as a finance lease arrangement, recognizing an additional net investment of $64 million, subject to foreign currency translation adjustments.
The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
DTE Energy
September 30, 2022
(In millions)
2022$9 
202334 
202434 
202534 
202633 
2027 and Thereafter451 
Total minimum future lease receipts595 
Residual value of leased pipeline17 
Less unearned income321 
Net investment in finance lease291 
Less current portion7 
$284 
Interest income recognized under finance leases was $6 million and $4 million for the three months ended September 30, 2022 and 2021, respectively, and $17 million and $13 million for the nine months ended September 30, 2022 and 2021, respectively.
DTE Energy’s lease income associated with operating leases, including the line items in which it was included on the Consolidated Statements of Operations, was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Fixed payments$3 $13 $11 $42 
Variable payments21 55 52 90 
$24 $68 $63 $132 
Operating revenues$24 $26 $63 $70 
Other income— 42 — 62 
$24 $68 $63 $132 
v3.22.2.2
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Environmental
DTE Electric
Air — DTE Electric is subject to the EPA ozone and fine particulate transport and acid rain regulations that limit power plant emissions of SO2 and NOX. The EPA and the State of Michigan have also issued emission reduction regulations relating to ozone, fine particulate, regional haze, mercury, and other air pollution. These rules have led to controls on fossil-fueled power plants to reduce SO2, NOX, mercury, and other emissions. Additional rule making may occur over the next few years which could require additional controls for SO2, NOX, and other hazardous air pollutants.
In 2015, the EPA finalized National Ambient Air Quality Standards ("NAAQS") for ground level ozone. In October 2016, the State of Michigan recommended to the EPA which areas of the State are not attaining the standards. In August 2018, the EPA designated southeast Michigan as "marginal non-attainment" with the 2015 ozone NAAQS. In January 2022, after collecting several years of data, the State submitted a request to the EPA for redesignation of the southeast Michigan ozone non-attainment area to attainment, and to accept their maintenance plan and emission inventories as a revision to the Michigan SIP. On March 14, 2022, the EPA published a proposal in the Federal Register to formally redesignate the southeast Michigan ozone non-attainment areas to attainment with the 2015 ozone NAAQS. The redesignation includes a public comment period. Measured 2022 ozone values exceeded the 2015 NAAQS and the redesignation being finalized is unlikely. Until a final SIP is developed, DTE Electric cannot predict the financial impact of this proposal.
The EPA has implemented regulatory actions under the Clean Air Act to address emissions of GHGs from the utility sector and other sectors of the economy. Among these actions, in 2015 the EPA finalized performance standards for emissions of carbon dioxide from new and existing fossil-fuel fired EGUs. The performance standards for existing EGUs, known as the EPA Clean Power Plan, were challenged by petitioners and stayed by the U.S. Supreme Court in February 2016 pending final review by the courts. On October 10, 2017, the EPA, under a new administration, proposed to rescind the Clean Power Plan, and in August 2018, the EPA proposed revised emission guidelines for GHGs from existing EGUs. On June 19, 2019, the EPA Administrator officially repealed the Clean Power Plan and finalized its replacement, named the ACE rule. The ACE rule was vacated and remanded back to the EPA in a D.C. Circuit Court decision on January 19, 2021. The Supreme Court granted a petition for certiorari in October 2021 and issued a decision on June 30, 2022 that reversed the January 2021 decision of the D.C. Circuit Court and remands the case for further proceedings. The next steps taken by the EPA with respect to regulation of GHGs from EGUs remain uncertain. While DTE Energy is reviewing the impacts of this ruling and subsequent responses from federal and state regulators, the ruling does not impact the plans for our utilities to reduce carbon emissions and achieve net zero emissions by 2050.
In addition to the GHG standards for existing EGUs, in December 2018, the EPA issued proposed revisions to the carbon dioxide performance standards for new, modified, or reconstructed fossil-fuel fired EGUs. The rule was finalized on January 13, 2021 and immediately challenged. An order vacating the rule was filed by the D.C. Circuit Court of Appeals on April 5, 2021. The carbon standards for new sources are not expected to have a material impact on DTE Electric, since DTE Electric has no plans to build new coal-fired generation and any potential new gas generation is expected to be able to comply with the standards.
Pending or future legislation or other regulatory actions could have a material impact on DTE Electric's operations and financial position and the rates charged to its customers. Potential impacts include expenditures for environmental equipment beyond what is currently planned, financing costs related to additional capital expenditures, the purchase of emission credits from market sources, higher costs of purchased power, and the retirement of facilities where control equipment is not economical. DTE Electric would seek to recover these incremental costs through increased rates charged to its utility customers, as authorized by the MPSC.
To comply with air pollution requirements, DTE Electric has spent approximately $2.4 billion. DTE Electric does not anticipate additional capital expenditures for air pollution requirements, subject to the results of future rulemakings.
Water — In response to EPA regulations and in accordance with the Clean Water Act section 316(b), DTE Electric was required to examine alternatives for reducing the environmental impacts of the cooling water intake structures at several of its facilities. A final rule became effective in October 2014, which required studies to be completed and submitted as part of the NPDES permit application process to determine the type of technology needed to reduce impacts to fish. DTE Electric has completed the required studies and submitted reports for most of its generation plants, and a final study is in-process for Monroe power plant. Final compliance for the installation of any required technology to reduce the impacts of water intake structures will be determined by the state on a case by case, site specific basis. DTE Electric is currently evaluating the compliance options and working with the State of Michigan on determining whether any controls are needed. These evaluations/studies may require modifications to some existing intake structures. It is not possible to quantify the impact of this rule making at this time.
As part of the Monroe power plant NPDES draft permit, EGLE has added requirements to evaluate the thermal discharge of the facility as it relates to Clean Water Act section 316(a) regulations. Once the final permit is issued, DTE Electric will be required to evaluate the impacts of the thermal discharge on a balanced indigenous biological community and submit a biological demonstration study plan to EGLE. After approval by EGLE and completion of field sampling, data will be processed and compiled into a comprehensive report. At the present time, DTE Electric cannot predict the outcome of this evaluation or financial impact.
Contaminated and Other Sites — Prior to the construction of major interstate natural gas pipelines, gas for heating and other uses was manufactured locally from processes involving coal, coke, or oil. The facilities, which produced gas, have been designated as MGP sites. DTE Electric conducted remedial investigations at contaminated sites, including three former MGP sites. Cleanup of one of the MGP sites is complete, and the site is closed. The investigations have revealed contamination related to the by-products of gas manufacturing at each MGP site. In addition to the MGP sites, DTE Electric is also in the process of cleaning up other contaminated sites, including the area surrounding an ash landfill, electrical distribution substations, electric generating power plants, and underground and above ground storage tank locations. The findings of these investigations indicated that the estimated cost to remediate these sites is expected to be incurred over the next several years. At September 30, 2022 and December 31, 2021, DTE Electric had $10 million and $14 million, respectively, accrued for remediation. These costs are not discounted to their present value. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Electric’s financial position and cash flows. DTE Electric believes the likelihood of a material change to the accrued amount is remote based on current knowledge of the conditions at each site.
Coal Combustion Residuals and Effluent Limitations Guidelines — A final EPA rule for the disposal of coal combustion residuals, commonly known as coal ash, became effective in October 2015, and was revised in August 2016, July 2018, August 2020, and November 2020. The rule is based on the continued listing of coal ash as a non-hazardous waste and relies on various self-implementation design and performance standards. DTE Electric owns and operates three permitted engineered coal ash storage facilities to dispose of coal ash from coal-fired power plants and operates a number of smaller impoundments at its power plants subject to certain provisions in the CCR rule. At certain facilities, the rule currently requires ongoing sampling and testing of monitoring wells, compliance with groundwater standards, and the closure of basins at the end of the useful life of the associated power plant.
On August 28, 2020, the CCR rule "A Holistic Approach to Closure Part A: Deadline to Initiate Closure and Enhancing Public Access to Information" was published in the Federal Register and required all unlined impoundments (including units previously classified as "clay-lined") to initiate closure as soon as technically feasible, but no later than April 11, 2021. Additionally, the rule amends certain reporting requirements and CCR website requirements. On November 12, 2020, an additional revision to the CCR Rule "A Holistic Approach to Closure Part B: Alternate Demonstration for Unlined Surface Impoundments" was published in the Federal Register that provides a process to determine if certain unlined impoundments consisting of an alternative liner system may be as protective as the current liners specified in the CCR rule, and therefore may continue to operate. DTE Electric has submitted applications to the EPA that support continued use of all impoundments through their active lives. The applications are currently under review and the forced closure date of April 11, 2021 is effectively delayed while the EPA completes their review. On September 1, 2022, DTE Electric ceased receipt of CCR and non-CCR waste streams at the St. Clair power plant bottom ash basins and initiated closure. Therefore, DTE Electric withdrew the Part A rule demonstration for St. Clair, as it was no longer necessary for the EPA to issue an extension of the April 11, 2021 deadline to cease receipt of waste.
At the State level, legislation was signed by the Governor in December 2018 and provides for further regulation of the CCR program in Michigan. Additionally, the statutory revision provides the basis of a CCR program that EGLE has submitted to the EPA for approval to fully regulate the CCR program in Michigan in lieu of a Federal permit program. The EPA is currently working with EGLE in reviewing the submitted State program, and DTE Electric will work with EGLE to implement the State program that may be approved in the future.
On April 12, 2017, the EPA granted a petition for reconsideration of the 2015 ELG Rule. On October 13, 2020, the EPA finalized the ELG Reconsideration Rule which revised the regulations from the 2015 ELG rule for FGD wastewater and bottom ash transport water only. The Reconsideration Rule re-establishes the technology-based effluent limitations guidelines and standards applicable to FGD wastewater and bottom ash transport water. The EPA set the applicability dates for bottom ash transport water "as soon as possible" beginning October 13, 2021 and no later than December 31, 2025. FGD wastewater retrofits must be completed "as soon as possible" beginning October 13, 2021 and no later than December 31, 2025 or December 31, 2028 if a permittee decides to pursue the Voluntary Incentives Program (VIP) subcategory for FGD wastewater. If a facility applies for the VIP, they must meet more stringent standards, but are allowed an extended time period to meet the compliance requirements.
The Reconsideration Rule also provides additional compliance opportunities by finalizing low utilization and cessation of coal burning subcategories. The Reconsideration Rule provides new opportunities for DTE Electric to evaluate existing ELG compliance strategies and make any necessary adjustments to ensure full compliance with the ELGs in a cost-effective manner.
Compliance schedules for individual facilities and individual waste streams are determined through issuance of new NPDES permits by the State of Michigan. The State of Michigan has issued an NPDES permit for the Belle River power plant establishing compliance deadlines based on the 2020 Reconsideration Rule. On October 11, 2021, in consideration of the deadlines above, DTE Electric submitted the appropriate documentation titled the Notice of Planned Participation (NOPP) to the State of Michigan that formally announced the intent to pursue compliance subcategories as ELG compliance options: the cessation of coal at the Belle River power plant no later than December 31, 2028 and the VIP for FGD wastewater at Monroe power plant by December 31, 2028.
On July 27, 2021, the EPA announced they will revisit some of the compliance requirements that were established in the 2020 Reconsideration Rule and plan to release a new proposed rule in the fourth quarter of 2022. The 2020 Reconsideration Rule remains in effect until that time.
DTE Electric continues to evaluate compliance strategies, technologies and system designs for both FGD wastewater and bottom ash transport water system to achieve compliance with the EPA rules at the Monroe power plant.
DTE Electric has estimated the impact of the CCR and ELG rules to be $560 million of capital expenditures, including $455 million for 2022 through 2026.
DTE Gas
Contaminated and Other Sites — DTE Gas owns or previously owned 14 former MGP sites. Investigations have revealed contamination related to the by-products of gas manufacturing at each site. Cleanup of eight MGP sites is complete and the sites are closed. DTE Gas has also completed partial closure of four additional sites. Cleanup activities associated with the remaining sites will continue over the next several years. The MPSC has established a cost deferral and rate recovery mechanism for investigation and remediation costs incurred at former MGP sites. In addition to the MGP sites, DTE Gas is also in the process of cleaning up other contaminated sites, including gate stations, gas pipeline releases, and underground storage tank locations. As of September 30, 2022 and December 31, 2021, DTE Gas had $23 million and $24 million, respectively, accrued for remediation. These costs are not discounted to their present value. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Gas' financial position and cash flows. DTE Gas anticipates the cost amortization methodology approved by the MPSC, which allows for amortization of the MGP costs over a ten-year period beginning with the year subsequent to the year the MGP costs were incurred, will prevent the associated investigation and remediation costs from having a material adverse impact on DTE Gas' results of operations.
Non-utility
DTE Energy's non-utility businesses are subject to a number of environmental laws and regulations dealing with the protection of the environment from various pollutants.
In March 2019, the EPA issued an FOV to EES Coke Battery, LLC ("EES Coke"), the Michigan coke battery facility that is a wholly-owned subsidiary of DTE Energy, alleging that the 2008 and 2014 permits issued by EGLE did not comply with the Clean Air Act. In September 2020, the EPA issued another FOV alleging EES Coke's 2018 and 2019 SO2 emissions exceeded projections and hence violated non-attainment new source review permitting requirements. EES Coke evaluated the EPA's alleged violations and believes that the permits approved by EGLE complied with the Clean Air Act. EES Coke responded to the EPA's September 2020 allegations demonstrating its actual emissions are compliant with non-attainment new source review requirements. On June 1, 2022, the U.S. Department of Justice, on behalf of the EPA, filed a complaint against EES Coke in the U.S. District Court for the Eastern District of Michigan alleging that EES Coke failed to comply with non-attainment new source review requirements under the Clean Air Act when it applied for the 2014 permit. In August 2022, EES Coke filed a response to the complaint and the EPA filed a motion for summary judgment. In September 2022, the Sierra Club and City of River Rouge filed motions to intervene. At the present time, DTE Energy cannot predict the outcome or financial impact of this matter.
Separately, in December 2021, EGLE issued a Notice of Violation to EES Coke alleging excess visible emissions from pushing operations. In January 2022, EES Coke provided EGLE a response describing the corrective actions taken to prevent future recurrences. At the present time, EES Coke cannot predict the outcome or financial impact of this matter.
Other
In 2010, the EPA finalized a new one-hour SO2 ambient air quality standard that requires states to submit plans and associated timelines for non-attainment areas that demonstrate attainment with the new SO2 standard in phases. Phase 1 addresses non-attainment areas designated based on ambient monitoring data. Phase 2 addresses non-attainment areas with large sources of SO2 and modeled concentrations exceeding the National Ambient Air Quality Standards for SO2. Phase 3 addresses smaller sources of SO2 with modeled or monitored exceedances of the new SO2 standard.
Michigan's Phase 1 non-attainment area includes DTE Energy facilities in southwest Detroit and areas of Wayne County. Modeling runs by EGLE suggest that emission reductions may be required by significant sources of SO2 emissions in these areas, including DTE Electric power plants and DTE Energy's Michigan coke battery facility. As part Michigan's SIP process, DTE Energy has worked with EGLE to develop air permits reflecting significant SO2 emission reductions that, in combination with other non-DTE Energy sources' emission reduction strategies, will help the State attain the standard and sustain its attainment. The Michigan SIP was completed and submitted to the EPA on May 31, 2016 and supplemented on June 30, 2016. On March 19, 2021, the EPA published in the Federal Register partial approval and partial disapproval of Michigan's Detroit SO2 non-attainment area plan. On June 1, 2022, the EPA published a Federal Implementation Plan (FIP) which aligned with the partial approval and partial disapproval of the State's plan. The proposed FIP underwent a public comment period and was finalized on September 30, 2022. No DTE Electric sources were materially impacted by the final FIP.
Michigan's Phase 2 non-attainment area includes DTE Electric facilities in St. Clair County. The EPA approved a clean data determination request submitted by EGLE. This determination suspends certain planning requirements and sanctions for the non-attainment area for as long as the area continues to attain the 2010 SO2 air quality standards, but this does not automatically redesignate the area to attainment. Until the area is officially redesignated as attainment, DTE Energy is unable to determine the impacts.
REF Guarantees
DTE Energy has provided certain guarantees and indemnities in conjunction with the sales of interests in or lease of its REF facilities. The guarantees cover potential commercial, environmental, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations. DTE Energy estimates that its maximum potential liability under these guarantees at September 30, 2022 was $605 million. Payments under these guarantees are considered remote.
Other Guarantees
In certain limited circumstances, the Registrants enter into contractual guarantees. The Registrants may guarantee another entity’s obligation in the event it fails to perform and may provide guarantees in certain indemnification agreements. The Registrants may also provide indirect guarantees for the indebtedness of others. DTE Energy’s guarantees are not individually material with maximum potential payments totaling $40 million at September 30, 2022. Payments under these guarantees are considered remote.
The Registrants are periodically required to obtain performance surety bonds in support of obligations to various governmental entities and other companies in connection with its operations. As of September 30, 2022, DTE Energy had $384 million of performance bonds outstanding, including $119 million for DTE Electric. Performance bonds are not individually material, except for $250 million of bonds supporting Energy Trading operations. These bonds are meant to provide counterparties with additional assurance that Energy Trading will meet its contractual obligations for various commercial transactions. The terms of the bonds align with those of the underlying Energy Trading contracts and are estimated to be outstanding approximately 1 to 3 years. In the event that any performance bonds are called for nonperformance, the Registrants would be obligated to reimburse the issuer of the performance bond. The Registrants are released from the performance bonds as the contractual performance is completed and does not believe that a material amount of any currently outstanding performance bonds will be called.
Labor Contracts
There are several bargaining units for DTE Energy subsidiaries' approximate 5,200 represented employees, including DTE Electric's approximately 2,600 represented employees. This represents 50% and 56% of DTE Energy's and DTE Electric's total employees, respectively. Of these represented employees, approximately 4% have contracts expiring within one year for both DTE Energy and DTE Electric.
Purchase Commitments
Utility capital expenditures and expenditures for non-utility businesses will be approximately $3.5 billion and $2.6 billion in 2022 for DTE Energy and DTE Electric, respectively. The Registrants have made certain commitments in connection with the estimated 2022 annual capital expenditures.
Ludington Plant Contract Dispute
DTE Electric and Consumers Energy Company ("Consumers"), joint owners of the Ludington Hydroelectric Pumped Storage plant ("Ludington"), are parties to a 2010 engineering, procurement, and construction contract with Toshiba America Energy Systems ("TAES"), under which TAES is charged with performing a major overhaul and upgrade of Ludington. TAES' performance has been unsatisfactory and resulted in overhaul project delays. DTE Electric and Consumers have demanded that TAES provide a comprehensive plan to resolve quality control concerns, including adherence to its warranty commitments and other contractual obligations. DTE Electric and Consumers have taken extensive efforts to resolve these issues with TAES, including a formal demand to TAES' parent, Toshiba Corporation, under a parent guaranty it provided in the contract. TAES has not provided a comprehensive plan or otherwise met its performance obligations. In order to enforce the contract, DTE Electric and Consumers filed a complaint against TAES and Toshiba Corporation in the U.S. District Court for the Eastern District of Michigan in April 2022.
In June 2022, TAES and Toshiba Corporation filed a motion to dismiss the complaint, along with counterclaims seeking approximately $15 million in damages related to payments allegedly owed under the parties' contract. As a joint owner of Ludington, DTE Electric would be liable for 49% of these damages. During September 2022, the motion to dismiss was denied. DTE Electric believes the outstanding counterclaims are without merit and is currently awaiting a scheduling order to determine the timing of further proceedings. DTE Electric cannot predict the financial impact or outcome of this matter.
Other Contingencies
The Registrants are involved in certain other legal, regulatory, administrative, and environmental proceedings before various courts, arbitration panels, and governmental agencies concerning claims arising in the ordinary course of business. These proceedings include certain contract disputes, additional environmental reviews and investigations, audits, inquiries from various regulators, and pending judicial matters. The Registrants cannot predict the final disposition of such proceedings. The Registrants regularly review legal matters and record provisions for claims that they can estimate and are considered probable of loss. The resolution of these pending proceedings is not expected to have a material effect on the Registrants' Consolidated Financial Statements in the periods they are resolved.
For a discussion of contingencies related to regulatory matters and derivatives, see Notes 6 and 9 to the Consolidated Financial Statements, "Regulatory Matters" and "Financial and Other Derivative Instruments," respectively.
v3.22.2.2
Retirement Benefits and Trusteed Assets
 9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Retirement Benefits and Trusteed Assets RETIREMENT BENEFITS AND TRUSTEED ASSETS
The following tables detail the components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits for DTE Energy:
Pension BenefitsOther Postretirement Benefits
Three Months Ended September 30,
2022202120222021
(In millions)
Service cost$25 $27 $6 $8 
Interest cost41 39 12 12 
Expected return on plan assets(87)(84)(32)(33)
Amortization of:
Net actuarial loss29 49 1 3 
Prior service credit— — (4)(5)
Net periodic benefit cost (credit)$8 $31 $(17)$(15)
Pension BenefitsOther Postretirement Benefits
Nine Months Ended September 30,
2022202120222021
(In millions)
Service cost$72 $81 $20 $23 
Interest cost124 118 36 35 
Expected return on plan assets(260)(254)(95)(97)
Amortization of:
Net actuarial loss86 147 3 10 
Prior service credit— — (14)(15)
Net periodic benefit cost (credit)$22 $92 $(50)$(44)
DTE Electric participates in various plans that provide pension and other postretirement benefits for DTE Energy and its affiliates. The plans are primarily sponsored by DTE Energy's subsidiary, DTE Energy Corporate Services, LLC. DTE Electric accounts for its participation in DTE Energy's qualified and non-qualified pension plans by applying multiemployer accounting. DTE Electric accounts for its participation in other postretirement benefit plans by applying multiple-employer accounting. Within multiemployer and multiple-employer plans, participants pool plan assets for investment purposes and to reduce the cost of plan administration. The primary difference between plan types is assets contributed in multiemployer plans can be used to provide benefits for all participating employers, while assets contributed within a multiple-employer plan are restricted for use by the contributing employer. As a result of multiemployer accounting treatment, capitalized costs associated with these plans are reflected in Property, plant, and equipment in DTE Electric's Consolidated Statements of Financial Position. The same capitalized costs are reflected as Regulatory assets and liabilities in DTE Energy's Consolidated Statements of Financial Position. In addition, the service cost and non-service cost components are presented in Operation and maintenance in DTE Electric's Consolidated Statements of Operations. The same non-service cost components are presented in Other (Income) and Deductions — Non-operating retirement benefits, net in DTE Energy's Consolidated Statements of Operations. Plan participants of all plans are solely DTE Energy and affiliate participants.
DTE Energy's subsidiaries are responsible for their share of qualified and non-qualified pension benefit costs. DTE Electric's allocated portion of pension benefit costs included in capital expenditures and operation and maintenance expense was $9 million and $26 million for the three months ended September 30, 2022 and 2021, respectively, and $27 million and $78 million for the nine months ended September 30, 2022 and 2021, respectively. These amounts include recognized contractual termination benefit charges, curtailment gains, and settlement charges.
The following tables detail the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Service cost$5 $6 $15 $17 
Interest cost10 8 28 25 
Expected return on plan assets(22)(22)(64)(65)
Amortization of:
Net actuarial loss2 3 4 9 
Prior service credit(4)(3)(10)(10)
Net periodic benefit credit$(9)$(8)$(27)$(24)
Pension and Other Postretirement Contributions
No contributions are currently expected for DTE Energy's qualified pension plans or postretirement benefit plans in 2022. Plans may be updated at the discretion of management and depending on economic and financial market conditions. DTE Energy anticipates a transfer of up to $50 million of qualified pension plan funds from DTE Gas to DTE Electric during the fourth quarter 2022.
v3.22.2.2
Segment and Related Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment and Related Information SEGMENT AND RELATED INFORMATION
DTE Energy sets strategic goals, allocates resources, and evaluates performance based on the following structure:
Electric segment consists principally of DTE Electric, which is engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan.
Gas segment consists principally of DTE Gas, which is engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million residential, commercial, and industrial customers throughout Michigan and the sale of storage and transportation capacity.
DTE Vantage is comprised primarily of renewable energy projects that sell electricity and pipeline-quality gas and projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers. DTE Vantage formerly included projects that produced reduced emissions fuel; however, these projects were closed as planned in 2022 upon REF facilities exhausting their eligibility for generating production tax credits.
Energy Trading consists of energy marketing and trading operations.
Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds certain investments, including funds supporting regional development and economic growth.
On July 1, 2021, DTE Energy completed the separation of DT Midstream, which was comprised of the former Gas Storage and Pipelines segment and also certain holding company activity within the Corporate and Other segment. Amounts relating to DT Midstream have been classified as discontinued operations, and Gas Storage and Pipelines is no longer a reportable segment of DTE Energy. Refer to Note 4 to the Consolidated Financial Statements, “Discontinued Operations,” for additional information.
Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider. Such billing primarily consists of power sales, sale and transportation of natural gas, and renewable natural gas sales in the segments below, as well as charges from Electric to other segments for use of the shared capital assets of DTE Electric. For the prior periods, inter-segment billing also included the sale of reduced emissions fuel at DTE Vantage.
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Electric$19 $17 $53 $48 
Gas4 3 10 10 
DTE Vantage15 125 57 463 
Energy Trading39 9 78 35 
Corporate and Other— 1 — 2 
$77 $155 $198 $558 
All inter-segment transactions and balances are eliminated in consolidation for DTE Energy. Centrally incurred costs such as labor and overheads are assigned directly to DTE Energy's business segments or allocated based on various cost drivers, depending on the nature of service provided.
The federal income tax provisions or benefits of DTE Energy’s subsidiaries are determined on an individual company basis and recognize the tax benefit of tax credits and net operating losses, if applicable. The state and local income tax provisions of the utility subsidiaries are also determined on an individual company basis and recognize the tax benefit of various tax credits and net operating losses, if applicable. The subsidiaries record federal, state, and local income taxes payable to or receivable from DTE Energy based on the federal, state, and local tax provisions of each company.
Financial data of DTE Energy's business segments follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Operating Revenues — Utility operations
Electric$1,844 $1,700 $4,896 $4,468 
Gas230 193 1,358 1,070 
Operating Revenues — Non-utility operations
Electric3 2 11 9 
DTE Vantage227 372 626 1,132 
Energy Trading3,024 1,602 8,059 4,208 
Corporate and Other— 1 — 2 
Reconciliation and Eliminations(a)
(77)(155)(198)(572)
Total$5,251 $3,715 $14,752 $10,317 
_______________________________________
(a)Includes $14 million for the nine months ended September 30, 2021 for eliminations related to DTE Energy's former Gas Storage and Pipelines segment that remain in continuing operations. Eliminations for these revenues are offset by related cost eliminations and have no impact on DTE Energy net income.
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment:
Electric$363 $342 $750 $788 
Gas(23)(30)179 146 
DTE Vantage26 73 68 115 
Energy Trading56 (52)(80)(173)
Corporate and Other(35)(275)(99)(381)
Income from Continuing Operations387 58 818 495 
Discontinued Operations— (33)— 106 
Net Income Attributable to DTE Energy Company$387 $25 $818 $601 
v3.22.2.2
Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The Consolidated Financial Statements should be read in conjunction with the Combined Notes to Consolidated Financial Statements included in the combined DTE Energy and DTE Electric 2021 Annual Report on Form 10-K.
The accompanying Consolidated Financial Statements of the Registrants are prepared using accounting principles generally accepted in the United States of America. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from the Registrants' estimates.
The Consolidated Financial Statements are unaudited but, in the Registrants' opinions, include all adjustments necessary to present a fair statement of the results for the interim periods. All adjustments are of a normal recurring nature, except as otherwise disclosed in these Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2022.
The information in these combined notes relates to each of the Registrants as noted in the Index of Combined Notes to Consolidated Financial Statements. However, DTE Electric does not make any representation as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.
Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation.
Separation of DT Midstream
On July 1, 2021, DTE Energy completed the separation of DT Midstream, its former natural gas pipeline, storage and gathering non-utility business. Financial results of DT Midstream in the prior period are presented as Income from discontinued operations, net of taxes on DTE Energy's Consolidated Statements of Operations.
No adjustments were made to the historical activity within the Consolidated Statements of Comprehensive Income, Consolidated Statements of Cash Flows, or the Consolidated Statements of Changes in Equity. Unless noted otherwise, discussion in the Notes to the Consolidated Financial Statements relate to continuing operations. Refer to Note 4 to the Consolidated Financial Statements, “Discontinued Operations,” for additional information.
Principles of Consolidation
Principles of Consolidation
The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the equity investment is valued at cost minus any impairments, if applicable. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions.
The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.
Legal entities within the DTE Vantage segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are generally accounted for under the equity method.
The Registrants hold ownership interests in certain limited partnerships. The limited partnerships include investment funds which support regional development and economic growth, and an operational business providing energy-related products. These entities are generally VIEs as a result of certain characteristics of the limited partnership voting rights. The ownership interests are accounted for under the equity method as the Registrants are not the primary beneficiaries.
DTE Energy has variable interests in VIEs through certain of its long-term purchase and sale contracts. DTE Electric has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2022, the carrying amount of assets and liabilities in DTE Energy's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts are predominantly related to working capital accounts and generally represent the amounts owed by or to DTE Energy for the deliveries associated with the current billing cycle under the contracts. As of September 30, 2022, the carrying amount of assets and liabilities in DTE Electric's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominantly related to working capital accounts and generally represent the amounts owed by DTE Electric for the deliveries associated with the current billing cycle under the contracts. The Registrants have not provided any significant form of financial support associated with these long-term contracts. There is no material potential exposure to loss as a result of DTE Energy's variable interests through these long-term purchase and sale contracts. In addition, there is no material potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts.
In the first quarter 2022, DTE Electric financed regulatory assets for previously deferred costs related to the River Rouge generation plant and tree trimming surge program through the sale of bonds by a wholly-owned special purpose entity, DTE Securitization. DTE Securitization is a VIE. DTE Electric has the power to direct the most significant activities of DTE Securitization, including performing servicing activities such as billing and collecting surcharge revenue. Accordingly, DTE Electric is the primary beneficiary and DTE Securitization is consolidated by the Registrants.
The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, and future funding commitments.
Changes in Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss)
Comprehensive income (loss) is the change in common shareholders' equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for DTE Energy include changes in benefit obligations, consisting of deferred actuarial losses and prior service costs, unrealized gains and losses from derivatives accounted for as cash flow hedges, and foreign currency translation adjustments. DTE Energy releases income tax effects from accumulated other comprehensive income when the circumstances upon which they are premised cease to exist.
Changes in Accumulated other comprehensive income (loss) are presented in DTE Energy's Consolidated Statements of Changes in Equity and DTE Electric's Consolidated Statements of Changes in Shareholder's Equity, if any.
Cash, Cash Equivalents, and Restricted Cash
Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash includes funds held in separate bank accounts and principally consists of amounts at DTE Securitization to pay for debt service and other qualified costs. Restricted cash designated for payments within one year is classified as a Current Asset.
Financing Receivables
Financing Receivables
Financing receivables are primarily composed of trade receivables, notes receivable, and unbilled revenue. The Registrants' financing receivables are stated at net realizable value.
The Registrants monitor the credit quality of their financing receivables on a regular basis by reviewing credit quality indicators and monitoring for trigger events, such as a credit rating downgrade or bankruptcy. Credit quality indicators include, but are not limited to, ratings by credit agencies where available, collection history, collateral, counterparty financial statements and other internal metrics. Utilizing such data, the Registrants have determined three internal grades of credit quality. Internal grade 1 includes financing receivables for counterparties where credit rating agencies have ranked the counterparty as investment grade. To the extent credit ratings are not available, the Registrants utilize other credit quality indicators to determine the level of risk associated with the financing receivable. Internal grade 1 may include financing receivables for counterparties for which credit rating agencies have ranked the counterparty as below investment grade; however, due to favorable information on other credit quality indicators, the Registrants have determined the risk level to be similar to that of an investment grade counterparty. Internal grade 2 includes financing receivables for counterparties with limited credit information and those with a higher risk profile based upon credit quality indicators. Internal grade 3 reflects financing receivables for which the counterparties have the greatest level of risk, including those in bankruptcy status.
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2022.
DTE EnergyDTE Electric
Year of Origination
202220212020 and PriorTotal2022 and Prior
(In millions)
Notes receivable
Internal grade 1$— $— $21 $21 $17 
Internal grade 225 3 16 44 — 
Total notes receivable(a)
$25 $3 $37 $65 $17 
Net investment in leases
Net investment in leases, internal grade 1$— $— $38 $38 $— 
Net investment in leases, internal grade 264 — 189 253 — 
Total net investment in leases(a)
$64 $— $227 $291 $— 
_______________________________________
(a)For DTE Energy, included in Current Assets — Other and Other Assets — Notes Receivable on the Consolidated Statements of Financial Position. For DTE Electric, included in Current Assets — Other on the Consolidated Statements of Financial Position.
The allowance for doubtful accounts on accounts receivable for the utility entities is generally calculated using an aging approach that utilizes rates developed in reserve studies. DTE Electric and DTE Gas establish an allowance for uncollectible accounts based on historical losses and management's assessment of existing and future economic conditions, customer trends and other factors. Customer accounts are generally considered delinquent if the amount billed is not received by the due date, which is typically in 21 days, however, factors such as assistance programs may delay aggressive action. DTE Electric and DTE Gas generally assess late payment fees on trade receivables based on past-due terms with customers. Customer accounts are written off when collection efforts have been exhausted. The time period for write-off is 150 days after service has been terminated.
The customer allowance for doubtful accounts for non-utility businesses and other receivables for both utility and non-utility businesses is generally calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. Existing and future economic conditions, customer trends and other factors are also considered. Receivables are written off on a specific identification basis and determined based upon the specific circumstances of the associated receivable.
Notes receivable for DTE Energy are primarily comprised of finance lease receivables and loans that are included in Notes Receivable and Other current assets on DTE Energy's Consolidated Statements of Financial Position. Notes receivable for DTE Electric are primarily comprised of loans.
Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. The Registrants cease accruing interest (nonaccrual status), consider a note receivable impaired, and establish an allowance for credit loss when it is probable that all principal and interest amounts due will not be collected in accordance with the contractual terms of the note receivable. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty's ability to pay including existing and future economic conditions.
Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to the contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current.
Recently Adopted and Recently Issued Pronouncements
Recently Adopted Pronouncements
In July 2021, the FASB issued ASU No. 2021-05, Leases (Topic 842): Lessors – Certain Leases with Variable Lease Payments. The amendments in this update modify lease classification requirements for lessors, providing that lease contracts with variable lease payments that do not depend on a reference index or a rate should be classified as operating leases if they would have been classified as a sales-type or direct financing lease and resulted in the recognition of a selling loss at lease commencement. The Registrants adopted the ASU effective January 1, 2022 using the prospective approach. The adoption of the ASU did not have a significant impact on the Registrants' Consolidated Financial Statements.
In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update require contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. Historically, such amounts were recognized by the acquirer at fair value in acquisition accounting. The Registrants early adopted the ASU effective January 1, 2022, which had no impact on the Registrants' Consolidated Financial Statements for the current period. The Registrants will apply the guidance prospectively to any future business combinations.
Recently Issued Pronouncements
In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the Current Expected Credit Loss (“CECL”) model under ASC 326 and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. Additionally, the amendments require the disclosure of current period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2022, and interim periods therein. Early adoption is permitted. The Registrants will apply the guidance prospectively after the effective date.
In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update clarify that contractual sale restrictions should not be considered when measuring the fair value of equity securities subject to such restrictions. The amendments also require the disclosure of the fair value of such equity securities, the nature and remaining duration of the restrictions, and the circumstances leading to a lapse in the restrictions. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2023, and interim periods therein. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.
Fair Value Measurement
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Registrants make certain assumptions they believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. Credit risk of the Registrants and their counterparties is incorporated in the valuation of assets and liabilities through the use of credit reserves, the impact of which was immaterial at September 30, 2022 and December 31, 2021. The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs.
A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows:
•Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date.
•Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.
•Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints.
Nuclear Decommissioning Trusts and Other Investments
Nuclear Decommissioning Trusts and Other Investments
The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly, as well as publicly-traded commingled funds, are valued using quoted market prices in actively traded markets. Non-exchange traded fixed income securities are valued based upon quotations available from brokers or pricing services.
Non-publicly traded commingled funds holding exchange-traded equity or debt securities are valued based on stated NAVs. There are no significant restrictions for these funds and investments may be redeemed with 7 to 65 days notice depending on the fund. There is no intention to sell the investment in these commingled funds.
Private equity and other assets include a diversified group of funds that are classified as NAV assets. These funds primarily invest in limited partnerships, including private equity, private real estate and private credit. Distributions are received through the liquidation of the underlying fund assets over the life of the funds. There are generally no redemption rights. The limited partner must hold the fund for its life or find a third-party buyer, which may need to be approved by the general partner. The funds are established with varied contractual durations generally in the range of 7 years to 12 years. The fund life can often be extended by several years by the general partner, and further extended with the approval of the limited partners. Unfunded commitments related to these investments totaled $190 million and $199 million as of September 30, 2022 and December 31, 2021, respectively.
Hedge funds and similar investments utilize a diversified group of strategies that attempt to capture uncorrelated sources of return. These investments include publicly traded mutual funds that are valued using quoted prices in actively traded markets, as well as insurance-linked and asset-backed securities that are valued using quotations from broker or pricing services.
For pricing the nuclear decommissioning trusts and other investments, a primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary source of a given security if the trustee determines that another price source is considered preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.
Derivative Assets and Liabilities
Derivative Assets and Liabilities
Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy.
Fair Value Transfer Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period.
Derivatives
The Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the derivative gain or loss is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period.
The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain environmental contracts, forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas and environmental inventory, pipeline transportation contracts, certain environmental contracts, and natural gas storage assets.
DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized.
DTE Gas — DTE Gas purchases, stores, transports, distributes, and sells natural gas, and buys and sells transportation and storage capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2025. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method.
DTE Vantage — This segment manages and operates renewable gas recovery projects, industrial energy projects, and power generation assets. Long-term contracts and hedging instruments are used in the marketing and management of the segment assets. These contracts and hedging instruments are generally not derivatives and are therefore accounted for under the accrual method.
Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. Energy Trading enters into these contracts to mitigate price volatility with respect to fluctuations of the Canadian dollar relative to the U.S. dollar. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Corporate and Other — Interest Rate Risk — DTE Energy may use interest rate swaps, treasury locks, and other derivatives to hedge the risk associated with interest rate market volatility.
Credit Risk — DTE Energy maintains credit policies that significantly minimize overall credit risk. These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees. DTE Energy generally uses standardized agreements that allow the netting of positive and negative transactions associated with a single counterparty. DTE Energy maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends, and other information. Based on DTE Energy's credit policies and its September 30, 2022 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements.
Derivatives, Offsetting Fair Value Amounts
Certain of DTE Energy's derivative positions are subject to netting arrangements which provide for offsetting of asset and liability positions as well as related cash collateral. Such netting arrangements generally do not have restrictions. Under such netting arrangements, DTE Energy offsets the fair value of derivative instruments with cash collateral received or paid for those contracts executed with the same counterparty, which reduces DTE Energy's Total Assets and Liabilities. Cash collateral is allocated between the fair value of derivative instruments and customer accounts receivable and payable with the same counterparty on a pro-rata basis to the extent there is exposure. Any cash collateral remaining, after the exposure is netted to zero, is reflected in Accounts receivable and Accounts payable as collateral paid or received, respectively.
DTE Energy also provides and receives collateral in the form of letters of credit which can be offset against net Derivative assets and liabilities as well as Accounts receivable and payable. DTE Energy had $79 million of letters of credit issued and outstanding at September 30, 2022 and $18 million at December 31, 2021, which could be used to offset net Derivative liabilities. Letters of credit received from third parties which could be used to offset net Derivative assets were $56 million and $37 million at September 30, 2022 and December 31, 2021, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.
For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.
Derivatives, Methods of Accounting Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, gas, and other — non-utility.
v3.22.2.2
Organization and Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2022 and December 31, 2021. All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below.
Amounts for the Registrants' consolidated VIEs are as follows:
September 30, 2022December 31, 2021
DTE Energy
DTE Electric(a)
DTE Energy
(In millions)
ASSETS
Cash and cash equivalents$10 $— $11 
Restricted cash23 23 6 
Securitized regulatory assets214 214 — 
Notes receivable80 — 70 
Other current and long-term assets14 2 8 
$341 $239 $95 
LIABILITIES
Short-term borrowings$79 $— $75 
Securitization bonds(b)
232 232 — 
Other current and long-term liabilities17 11 5 
$328 $243 $80 
_______________________________________
(a)DTE Electric amounts reflect DTE Securitization, which was a new VIE beginning the first quarter of 2022. See Note 6 to the Consolidated Financial Statements, "Regulatory Matters."
(b)Includes $40 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the period ended September 30, 2022.
Summary of Amounts for Non-Consolidated Variable Interest Entities
Amounts for DTE Energy's non-consolidated VIEs are as follows:
September 30, 2022December 31, 2021
(In millions)
Investments in equity method investees$141 $172 
Notes receivable$15 $13 
Future funding commitments$2 $3 
v3.22.2.2
Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Schedule of Other Income
The following is a summary of DTE Energy's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Contract services$7 $6 $21 $21 
Allowance for equity funds used during construction6 7 20 20 
Income from REF entities— 57 — 102 
Gains from rabbi trust securities(a)
— — — 4 
Equity earnings (losses) of equity method investees— 17 (15)31 
Other3 3 9 9 
$16 $90 $35 $187 
_______________________________________
(a)Losses from rabbi trust securities are recorded separately to Other expenses on the Consolidated Statements of Operations.
The following is a summary of DTE Electric's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Contract services$7 $6 $21 $21 
Allowance for equity funds used during construction6 6 18 18 
Gains from rabbi trust securities allocated from DTE Energy(a)
— — — 4 
Other2 2 7 9 
$15 $14 $46 $52 
_______________________________________
(a)Losses from rabbi trust securities are recorded separately to Other expenses on the Consolidated Statements of Operations.
Schedule of Effective Tax Rates
The interim effective tax rates of the Registrants are as follows:
Effective Tax Rate
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
DTE Energy2 %186 %— %(34)%
DTE Electric2 %12 %2 %10 %
Schedule of Financing Receivables Classified by Internal Grade of Credit Risk
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2022.
DTE EnergyDTE Electric
Year of Origination
202220212020 and PriorTotal2022 and Prior
(In millions)
Notes receivable
Internal grade 1$— $— $21 $21 $17 
Internal grade 225 3 16 44 — 
Total notes receivable(a)
$25 $3 $37 $65 $17 
Net investment in leases
Net investment in leases, internal grade 1$— $— $38 $38 $— 
Net investment in leases, internal grade 264 — 189 253 — 
Total net investment in leases(a)
$64 $— $227 $291 $— 
_______________________________________
(a)For DTE Energy, included in Current Assets — Other and Other Assets — Notes Receivable on the Consolidated Statements of Financial Position. For DTE Electric, included in Current Assets — Other on the Consolidated Statements of Financial Position.
Schedule of Roll-Forward of Activity for Financing Receivables Credit Loss Reserves
The following tables present a roll-forward of the activity for the Registrants' financing receivables credit loss reserves:
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2022$89 $3 $92 $54 
Current period provision 41 — 41 25 
Write-offs charged against allowance(72)— (72)(47)
Recoveries of amounts previously written off34 — 34 21 
Ending reserve balance, September 30, 2022$92 $3 $95 $53 
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2021$101 $3 $104 $57 
Current period provision53 1 54 36 
Write-offs charged against allowance(126)(1)(127)(77)
Recoveries of amounts previously written off61 — 61 38 
Ending reserve balance, December 31, 2021$89 $3 $92 $54 
Schedule of Uncollectible Expense
Uncollectible expense for the Registrants is primarily comprised of the current period provision for allowance for doubtful accounts and is summarized as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
DTE Energy$12 $7 $46 $42 
DTE Electric$12 $10 $28 $26 
v3.22.2.2
Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations The table below reflects the financial results of DT Midstream that are included in discontinued operations within the Consolidated Statements of Operations. These results include the impact of tax-related adjustments and all transaction costs related to the separation. General corporate overhead costs have been excluded and no portion of corporate interest costs were allocated to discontinued operations.
Three Months Ended September 30,Nine Months Ended September 30,
20212021
(In millions)
Operating Revenues — Non-utility operations$— $405 
Operating Expenses
Cost of gas and other — non-utility— 15 
Operation and maintenance(a)
30 124 
Depreciation and amortization— 82 
Taxes other than income— 13 
Asset (gains) losses and impairments, net— 17 
30 251 
Operating Income (Loss)(30)154 
Other (Income) and Deductions
Interest expense— 50 
Interest income— (4)
Other income— (62)
— (16)
Income (Loss) from Discontinued Operations Before Income Taxes(30)170 
Income Tax Expense3 58 
Net Income (Loss) from Discontinued Operations, Net of Taxes(33)112 
Less: Net Income Attributable to Noncontrolling Interests— 6 
Net Income (Loss) from Discontinued Operations$(33)$106 
_______________________________________
(a)Includes separation transaction costs of $30 million and $59 million for the three and nine months ended September 30, 2021, respectively, for various legal, accounting and other professional services fees.
The following table is a summary of significant non-cash items and capital expenditures of discontinued operations included in DTE Energy's Consolidated Statements of Cash Flows:
Nine Months Ended September 30,
2021
(In millions)
Operating Activities
Depreciation and amortization$82 
Deferred income taxes57 
Equity earnings of equity method investees(59)
Asset (gains) losses and impairments, net19 
Investing Activities
Plant and equipment expenditures — non-utility(60)
v3.22.2.2
Revenue (Tables)
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following is a summary of revenues disaggregated by segment for DTE Energy:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Electric(a)
Residential$882 $885 $2,273 $2,262 
Commercial541 533 1,505 1,452 
Industrial167 167 498 473 
Other(b)
257 117 631 290 
Total Electric operating revenues$1,847 $1,702 $4,907 $4,477 
Gas
Gas sales$128 $95 $955 $726 
End User Transportation42 38 195 171 
Intermediate Transportation15 16 60 59 
Other(b)
45 44 148 114 
Total Gas operating revenues$230 $193 $1,358 $1,070 
Other segment operating revenues
DTE Vantage$227 $372 $626 $1,132 
Energy Trading$3,024 $1,602 $8,059 $4,208 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $3 million and $2 million of Other revenues related to DTE Sustainable Generation for the three months ended September 30, 2022 and 2021, respectively, and $11 million and $9 million for the nine months ended September 30, 2022 and 2021, respectively.
(b)Includes revenue adjustments related to various regulatory mechanisms, including the PSCR at the Electric segment and GCR at the Gas segment. Revenues related to these mechanisms may vary based on changes in the cost of fuel, purchased power, and gas.
Revenues included the following which were outside the scope of Topic 606:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Electric — Other revenues $7 $6 $15 $14 
Gas — Other revenues$2 $1 $6 $5 
DTE Vantage — Leases$24 $26 $63 $70 
Energy Trading — Derivatives$2,531 $1,324 $6,691 $3,377 
Summary of Deferred Revenue Activity
The following is a summary of deferred revenue activity:
DTE Energy
(In millions)
Beginning Balance, January 1, 2022$78 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period86 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(54)
Ending Balance, September 30, 2022$110 
Deferred Revenue Amounts Expected to be Recognized as Revenue in Future Periods
The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:
DTE Energy
(In millions)
2022$42 
202364 
20241 
20252 
2026— 
2027 and thereafter1 
$110 
The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:
DTE EnergyDTE Electric
(In millions)
2022$43 $2 
2023292 7 
2024192 7 
2025118 1 
202667 — 
2027 and thereafter355 — 
$1,067 $17 
v3.22.2.2
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company — continuing operations$387 $58 $818 $495 
Less: Allocation of earnings to net restricted stock awards1 — 2 1 
$386 $58 $816 $494 
Net Income Attributable to DTE Energy Company — discontinued operations— (33)— 106 
Net income available to common shareholders — basic$386 $25 $816 $600 
Average number of common shares outstanding — basic193 193 193 193 
Income from continuing operations$2.00 $0.30 $4.22 $2.55 
Income from discontinued operations— (0.17)— 0.55 
Basic Earnings per Common Share$2.00 $0.13 $4.22 $3.10 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company — continuing operations$387 $58 $818 $495 
Less: Allocation of earnings to net restricted stock awards1 — 2 1 
$386 $58 $816 $494 
Net Income Attributable to DTE Energy Company — discontinued operations— (33)— 106 
Net income available to common shareholders — diluted$386 $25 $816 $600 
Average number of common shares outstanding — basic193 193 193 193 
Average dilutive equity units and performance share awards1 1 1 1 
Average number of common shares outstanding — diluted194 194 194 194 
Income from continuing operations$1.99 $0.30 $4.21 $2.55 
Income from discontinued operations— (0.17)— 0.55 
Diluted Earnings per Common Share(a)
$1.99 $0.13 $4.21 $3.10 
_______________________________________
(a)Equity units excluded from the calculation of diluted EPS were approximately 10.1 million and 11.1 million for the three months ended September 30, 2022 and 2021, respectively, and 10.2 million and 11.5 million for the nine months ended September 30, 2022 and 2021, respectively, as the dilutive stock price threshold was not met.
v3.22.2.2
Fair Value (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis:
September 30, 2022December 31, 2021
Level
1		Level
2		Level
3
Other(a)
Netting(b)
Net BalanceLevel
1		Level
2		Level
3
Other(a)
Netting(b)
Net Balance
(In millions)
Assets
Cash equivalents(c)
$26 $— $— $— $— $26 $4 $— $— $— $— $4 
Nuclear decommissioning trusts
Equity securities653 — — 155 — 808 917 — — 190 — 1,107 
Fixed income securities102 357 — 91 — 550 124 418 — 102 — 644 
Private equity and other— — — 259 — 259 — — — 205 — 205 
Hedge funds and similar investments77 41 — — — 118 58 18 — — — 76 
Cash equivalents29 — — — — 29 39 — — — — 39 
Other investments(d)
Equity securities52 — — — — 52 68 — — — — 68 
Fixed income securities7 — — — — 7 7 — — — — 7 
Cash equivalents71 — — — — 71 86 — — — — 86 
Derivative assets
Commodity contracts(e)
Natural gas554 233 104 — (852)39 273 115 66 — (394)60 
Electricity— 1,185 437 — (1,160)462 — 500 143 — (441)202 
Environmental & Other— 222 16 — (224)14 — 285 9 — (285)9 
Foreign currency exchange contracts— 3 — — — 3 — — — — — — 
Total derivative assets554 1,643 557 — (2,236)518 273 900 218 — (1,120)271 
Total$1,571 $2,041 $557 $505 $(2,236)$2,438 $1,576 $1,336 $218 $497 $(1,120)$2,507 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(293)$(483)$(417)$— $772 $(421)$(177)$(172)$(245)$— $347 $(247)
Electricity— (1,064)(513)— 1,244 (333)— (434)(188)— 443 (179)
Environmental & Other— (224)(1)— 226 1 — (288)— — 288 — 
Foreign currency exchange contracts— (1)— — — (1)— (4)— — — (4)
Total$(293)$(1,772)$(931)$— $2,242 $(754)$(177)$(898)$(433)$— $1,078 $(430)
Net Assets (Liabilities) at end of period$1,278 $269 $(374)$505 $6 $1,684 $1,399 $438 $(215)$497 $(42)$2,077 
Assets
Current$453 $1,340 $442 $— $(1,814)$421 $227 $646 $166 $— $(854)$185 
Noncurrent1,118 701 115 505 (422)2,017 1,349 690 52 497 (266)2,322 
Total Assets$1,571 $2,041 $557 $505 $(2,236)$2,438 $1,576 $1,336 $218 $497 $(1,120)$2,507 
Liabilities
Current$(263)$(1,382)$(637)$— $1,784 $(498)$(168)$(609)$(260)$— $799 $(238)
Noncurrent(30)(390)(294)— 458 (256)(9)(289)(173)— 279 (192)
Total Liabilities$(293)$(1,772)$(931)$— $2,242 $(754)$(177)$(898)$(433)$— $1,078 $(430)
Net Assets (Liabilities) at end of period$1,278 $269 $(374)$505 $6 $1,684 $1,399 $438 $(215)$497 $(42)$2,077 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.
(c)Amounts include $25 million and $1 million of cash equivalents recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at September 30, 2022 and December 31, 2021, respectively. All other amounts are included in Cash and cash equivalents on DTE Energy's Consolidated Statements of Financial Position.
(d)Excludes cash surrender value of life insurance investments.
(e)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of:
September 30, 2022December 31, 2021
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(b)
$23 $— $— $— $23 $— $— $— $— $— 
Nuclear decommissioning trusts
Equity securities653 — — 155 808 917 — — 190 1,107 
Fixed income securities102 357 — 91 550 124 418 — 102 644 
Private equity and other— — — 259 259 — — — 205 205 
Hedge funds and similar investments77 41 — — 118 58 18 — — 76 
Cash equivalents29 — — — 29 39 — — — 39 
Other investments
Equity securities15 — — — 15 20 — — — 20 
Cash equivalents11 — — — 11 11 — — — 11 
Derivative assets — FTRs— — 16 — 16 — — 9 — 9 
Total$910 $398 $16 $505 $1,829 $1,169 $436 $9 $497 $2,111 
Assets
Current$23 $— $16 $— $39 $— $— $9 $— $9 
Noncurrent887 398 — 505 1,790 1,169 436 — 497 2,102 
Total Assets$910 $398 $16 $505 $1,829 $1,169 $436 $9 $497 $2,111 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Cash equivalents of $23 million are included in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at September 30, 2022.
Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy:
Three Months Ended September 30, 2022Three Months Ended September 30, 2021
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of June 30$(362)$(96)$30 $(428)$(181)$(49)$15 $(215)
Transfers into Level 3 from Level 2(3)— — (3)— — — — 
Transfers from Level 3 into Level 2— — (5)(5)— — — — 
Total gains (losses)
Included in earnings(a)
(32)40 (1)7 (162)(21)— (183)
Recorded in Regulatory liabilities— — (4)(4)— — (1)(1)
Purchases, issuances, and settlements
Settlements84 (20)(5)59 63 (25)(2)36 
Net Assets (Liabilities) as of September 30$(313)$(76)$15 $(374)$(280)$(95)$12 $(363)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30(a)
$29 $37 $(5)$61 $(109)$(30)$(2)$(141)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $(1)$(1)$— $— $— $— 
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
Nine Months Ended September 30, 2022Nine Months Ended September 30, 2021
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$(179)$(45)$9 $(215)$(16)$10 $4 $(2)
Transfers from Level 3 into Level 25 — — 5 — — — — 
Total gains (losses)
Included in earnings(a)
(382)22 1 (359)(356)(5)— (361)
Recorded in Regulatory liabilities— — 20 20 — — 14 14 
Purchases, issuances, and settlements
Settlements243 (53)(15)175 92 (100)(6)(14)
Net Assets (Liabilities) as of September 30$(313)$(76)$15 $(374)$(280)$(95)$12 $(363)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30(a)
$(248)$(2)$(31)$(281)$(301)$(54)$(17)$(372)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $16 $16 $— $— $12 $12 
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Net Assets as of beginning of period$25 $15 $9 $4 
Total gains (losses) recorded in Regulatory liabilities(4)(1)20 14 
Purchases, issuances, and settlements
Settlements(5)(2)(13)(6)
Net Assets as of September 30$16 $12 $16 $12 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$(1)$— $16 $12 
Unobservable Inputs Related to Level 3 Assets and Liabilities
The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:
September 30, 2022
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$104 $(417)Discounted Cash FlowForward basis price (per MMBtu)$(2.34)—$9.94 /MMBtu$0.02 /MMBtu
Electricity$437 $(513)Discounted Cash FlowForward basis price (per MWh)$(50)—$20 /MWh$(4)/MWh
December 31, 2021
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$66 $(245)Discounted Cash FlowForward basis price (per MMBtu)$(1.36)—$3.82 /MMBtu$(0.04)/MMBtu
Electricity$143 $(188)Discounted Cash FlowForward basis price (per MWh)$(12)—$7 /MWh$(2)/MWh
Carrying Amount of Fair Value of Financial Instruments
The following table presents the carrying amount and fair value of financial instruments for DTE Energy:
September 30, 2022December 31, 2021
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$65 $— $— $65 $150 $— $— $167 
Short-term borrowings$994 $— $994 $— $758 $— $758 $— 
Notes payable(b)
$17 $— $— $17 $27 $— $— $27 
Long-term debt(c)
$18,846 $731 $14,776 $1,189 $17,378 $2,284 $15,425 $1,207 
_______________________________________
(a)Current portion included in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
The following table presents the carrying amount and fair value of financial instruments for DTE Electric:
September 30, 2022December 31, 2021
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$17 $— $— $17 $17 $— $— $17 
Short-term borrowings — affiliates$78 $— $— $78 $53 $— $— $53 
Short-term borrowings — other$459 $— $459 $— $153 $— $153 $— 
Notes payable(b)
$17 $— $— $17 $27 $— $— $27 
Long-term debt(c)
$9,714 $— $8,191 $133 $8,907 $— $9,898 $150 
_______________________________________
(a)Included in Current Assets — Other on DTE Electric's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
Fair Value of Nuclear Decommissioning Trust Fund Assets
The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:
September 30, 2022December 31, 2021
(In millions)
Fermi 2$1,742 $2,051 
Fermi 13 3 
Low-level radioactive waste19 17 
$1,764 $2,071 
Schedule of Realized Gains and Losses and Proceeds from Sale of Securities by Nuclear Decommissioning Trust Funds The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Realized gains$19 $21 $65 $80 
Realized losses$(19)$(1)$(42)$(9)
Proceeds from sale of securities$194 $217 $707 $854 
Fair Value and Unrealized Gains and Losses for Nuclear Decommissioning Trust Funds
The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:
September 30, 2022December 31, 2021
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$808 $285 $(31)$1,107 $546 $(9)
Fixed income securities550 1 (65)644 23 (6)
Private equity and other259 72 (4)205 58 (8)
Hedge funds and similar investments118 — (20)76 1 (2)
Cash equivalents29 — — 39 — — 
$1,764 $358 $(120)$2,071 $628 $(25)
Fair Value of the Fixed Income Securities Held in Nuclear Decommissioning Trust Funds
The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:
September 30, 2022
(In millions)
Due within one year$22 
Due after one through five years105 
Due after five through ten years92 
Due after ten years240 
$459 
Summary of Gains (Losses) Related to the Trust The following table summarizes the Registrant's gains (losses) related to the trust:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Gains (losses) related to equity securities$(2)$(1)$(7)$3 
Gains (losses) related to fixed income securities— — (1)— 
$(2)$(1)$(8)$3 
v3.22.2.2
Financial and Other Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table presents the fair value of derivative instruments for DTE Energy:
September 30, 2022December 31, 2021
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
Foreign currency exchange contracts$— $(1)$— $(4)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$891 $(1,193)$454 $(594)
Electricity1,622 (1,577)643 (622)
Environmental & Other238 (225)294 (288)
Foreign currency exchange contracts3 — — — 
Total derivatives not designated as hedging instruments$2,754 $(2,995)$1,391 $(1,504)
Current$2,209 $(2,282)$1,035 $(1,037)
Noncurrent545 (714)356 (471)
Total derivatives$2,754 $(2,996)$1,391 $(1,508)
Offsetting Assets
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2022December 31, 2021
(In millions)
Cash collateral netted against Derivative assets$(272)$(90)
Cash collateral netted against Derivative liabilities278 48 
Cash collateral recorded in Accounts receivable(a)
103 55 
Cash collateral recorded in Accounts payable(a)
(19)(21)
Total net cash collateral posted (received)$90 $(8)
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2022December 31, 2021
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$891 $(852)$39 $454 $(394)$60 
Electricity1,622 (1,160)462 643 (441)202 
Environmental & Other238 (224)14 294 (285)9 
Foreign currency exchange contracts3 — 3 — — — 
Total derivative assets$2,754 $(2,236)$518 $1,391 $(1,120)$271 
Derivative liabilities
Commodity contracts(a)
Natural gas$(1,193)$772 $(421)$(594)$347 $(247)
Electricity(1,577)1,244 (333)(622)443 (179)
Environmental & Other(225)226 1 (288)288 — 
Foreign currency exchange contracts(1)— (1)(4)— (4)
Total derivative liabilities$(2,996)$2,242 $(754)$(1,508)$1,078 $(430)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Offsetting Liabilities
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2022December 31, 2021
(In millions)
Cash collateral netted against Derivative assets$(272)$(90)
Cash collateral netted against Derivative liabilities278 48 
Cash collateral recorded in Accounts receivable(a)
103 55 
Cash collateral recorded in Accounts payable(a)
(19)(21)
Total net cash collateral posted (received)$90 $(8)
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2022December 31, 2021
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$891 $(852)$39 $454 $(394)$60 
Electricity1,622 (1,160)462 643 (441)202 
Environmental & Other238 (224)14 294 (285)9 
Foreign currency exchange contracts3 — 3 — — — 
Total derivative assets$2,754 $(2,236)$518 $1,391 $(1,120)$271 
Derivative liabilities
Commodity contracts(a)
Natural gas$(1,193)$772 $(421)$(594)$347 $(247)
Electricity(1,577)1,244 (333)(622)443 (179)
Environmental & Other(225)226 1 (288)288 — 
Foreign currency exchange contracts(1)— (1)(4)— (4)
Total derivative liabilities$(2,996)$2,242 $(754)$(1,508)$1,078 $(430)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Netting Offsets of Derivative Assets and Liabilities Reconciliation to the Statements of Financial Position
The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position:
September 30, 2022December 31, 2021
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$2,209 $545 $(2,282)$(714)$1,035 $356 $(1,037)$(471)
Counterparty netting(1,609)(355)1,609 355 (791)(239)791 239 
Collateral adjustment(205)(67)175 103 (63)(27)8 40 
Total derivatives as reported$395 $123 $(498)$(256)$181 $90 $(238)$(192)
Gain (Loss) Recognized in Income on Derivatives
The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows:
Location of Gain (Loss) Recognized in Income on DerivativesGain (Loss) Recognized in Income on Derivatives for the Three Months Ended September 30,Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
2022202120222021
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(52)$(214)$(315)$(371)
Natural gasFuel, purchased power, gas, and other — non-utility108 63 8 (16)
ElectricityOperating Revenues — Non-utility operations61 68 173 143 
Environmental & OtherOperating Revenues — Non-utility operations(3)3 15 (36)
Foreign currency exchange contractsOperating Revenues — Non-utility operations5 2 5 (1)
Total$119 $(78)$(114)$(281)
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2022:
CommodityNumber of Units
Natural gas (MMBtu)2,218,333,992 
Electricity (MWh)30,593,651 
Oil (Gallons)8,532,000 
Foreign currency exchange ($ CAD)132,812,314 
Renewable Energy Certificates (MWh)7,816,573 
Carbon emissions (Metric Tons)592,605 
v3.22.2.2
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Debt Issuances
In 2022, the following debt was issued:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricFebruary
Mortgage bonds(a)
3.00%2032$500 
DTE ElectricFebruary
Mortgage bonds(b)
3.65%2052400 
DTE ElectricMarch
Securitization bonds(c)
2.64%
2027(d)
184 
DTE ElectricMarch
Securitization bonds(c)
3.11%
2036(e)
52 
DTE EnergyAugustTerm loan facilityVariable2023400 
DTE GasSeptember
Mortgage bonds(a)
4.76%2032130 
DTE GasSeptember
Mortgage bonds(a)
5.05%2052130 
$1,796 
_______________________________________
(a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.
(b)Bonds were issued as Green Bonds with proceeds to be used for eligible green expenditures, including costs related to the generation of solar and wind energy, purchases of renewable energy from wind and solar power facilities, and energy optimization programs.
(c)Proceeds were used to reimburse DTE Electric for qualified costs previously incurred, including the net book value of the River Rouge generation plant, tree trimming surge program costs, and other qualified costs. The securitization financing order from the MPSC required that the net proceeds be subsequently applied by DTE Electric to retire existing debt or equity. Accordingly, DTE Electric used proceeds of $115 million towards retirement of the 2012 Series A Mortgage bonds noted in the Debt Redemptions table below and issued a one-time special dividend of $115 million to DTE Energy. Refer to Note 6 to the Consolidated Financial Statements, “Regulatory Matters,” for additional information
(d)Principal payments on the bonds will be made semi-annually beginning December 2022, with the final payment scheduled for December 2026.
(e)Principal payments on the bonds will be made semi-annually beginning June 2027, with the final payment scheduled for December 2035.
Schedule of Debt Redemptions
In 2022, the following debt was redeemed:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricMarchMortgage bonds2.65%2022$250 
DTE ElectricSeptemberMortgage Bonds6.95%202266 
$316 
v3.22.2.2
Short-Term Credit Arrangements and Borrowings (Tables)
 9 Months Ended
Sep. 30, 2022
Short-Term Debt [Abstract]  
Schedule of Line of Credit Facilities
The availability under these facilities as of September 30, 2022 is shown in the following table:
DTE EnergyDTE ElectricDTE GasTotal
(In millions)
Unsecured revolving credit facility, expiring April 2026$1,500 $500 $300 $2,300 
Unsecured Canadian revolving credit facility, expiring May 202379 — — 79 
Unsecured letter of credit facility, expiring February 2023150 — — 150 
Unsecured letter of credit facility, expiring June 2023375 — — 375 
Unsecured letter of credit facility(a)
50 — — 50 
2,154 500 300 2,954 
Amounts outstanding at September 30, 2022
Revolver borrowings79 — — 79 
Commercial paper issuances326 459 130 915 
Letters of credit338 — — 338 
743 459 130 1,332 
Net availability at September 30, 2022$1,411 $41 $170 $1,622 
_______________________________________
(a)Uncommitted letter of credit facility with automatic renewal provision for each July and therefore no expiration.
v3.22.2.2
Leases (Tables)
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Components of Net Investment in Finance Leases
The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
DTE Energy
September 30, 2022
(In millions)
2022$9 
202334 
202434 
202534 
202633 
2027 and Thereafter451 
Total minimum future lease receipts595 
Residual value of leased pipeline17 
Less unearned income321 
Net investment in finance lease291 
Less current portion7 
$284 
Schedule of Lease Income Associated with Operating Leases
DTE Energy’s lease income associated with operating leases, including the line items in which it was included on the Consolidated Statements of Operations, was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Fixed payments$3 $13 $11 $42 
Variable payments21 55 52 90 
$24 $68 $63 $132 
Operating revenues$24 $26 $63 $70 
Other income— 42 — 62 
$24 $68 $63 $132 
v3.22.2.2
Retirement Benefits and Trusteed Assets (Tables)
 9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Costs (Credits)
The following tables detail the components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits for DTE Energy:
Pension BenefitsOther Postretirement Benefits
Three Months Ended September 30,
2022202120222021
(In millions)
Service cost$25 $27 $6 $8 
Interest cost41 39 12 12 
Expected return on plan assets(87)(84)(32)(33)
Amortization of:
Net actuarial loss29 49 1 3 
Prior service credit— — (4)(5)
Net periodic benefit cost (credit)$8 $31 $(17)$(15)
Pension BenefitsOther Postretirement Benefits
Nine Months Ended September 30,
2022202120222021
(In millions)
Service cost$72 $81 $20 $23 
Interest cost124 118 36 35 
Expected return on plan assets(260)(254)(95)(97)
Amortization of:
Net actuarial loss86 147 3 10 
Prior service credit— — (14)(15)
Net periodic benefit cost (credit)$22 $92 $(50)$(44)
The following tables detail the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Service cost$5 $6 $15 $17 
Interest cost10 8 28 25 
Expected return on plan assets(22)(22)(64)(65)
Amortization of:
Net actuarial loss2 3 4 9 
Prior service credit(4)(3)(10)(10)
Net periodic benefit credit$(9)$(8)$(27)$(24)
v3.22.2.2
Segment and Related Information (Tables)
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Financial Data of Business Segments
Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider. Such billing primarily consists of power sales, sale and transportation of natural gas, and renewable natural gas sales in the segments below, as well as charges from Electric to other segments for use of the shared capital assets of DTE Electric. For the prior periods, inter-segment billing also included the sale of reduced emissions fuel at DTE Vantage.
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Electric$19 $17 $53 $48 
Gas4 3 10 10 
DTE Vantage15 125 57 463 
Energy Trading39 9 78 35 
Corporate and Other— 1 — 2 
$77 $155 $198 $558 
Financial data of DTE Energy's business segments follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Operating Revenues — Utility operations
Electric$1,844 $1,700 $4,896 $4,468 
Gas230 193 1,358 1,070 
Operating Revenues — Non-utility operations
Electric3 2 11 9 
DTE Vantage227 372 626 1,132 
Energy Trading3,024 1,602 8,059 4,208 
Corporate and Other— 1 — 2 
Reconciliation and Eliminations(a)
(77)(155)(198)(572)
Total$5,251 $3,715 $14,752 $10,317 
_______________________________________
(a)Includes $14 million for the nine months ended September 30, 2021 for eliminations related to DTE Energy's former Gas Storage and Pipelines segment that remain in continuing operations. Eliminations for these revenues are offset by related cost eliminations and have no impact on DTE Energy net income.
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment:
Electric$363 $342 $750 $788 
Gas(23)(30)179 146 
DTE Vantage26 73 68 115 
Energy Trading56 (52)(80)(173)
Corporate and Other(35)(275)(99)(381)
Income from Continuing Operations387 58 818 495 
Discontinued Operations— (33)— 106 
Net Income Attributable to DTE Energy Company$387 $25 $818 $601 
v3.22.2.2
Organization and Basis of Presentation (Details Textuals)
customer in Millions, $ in Millions
Sep. 30, 2022
USD ($)
customer
Variable Interest Entity [Line Items]  
Number of electric utility customers | customer 2.3
Number of gas utility customers | customer 1.3
Material potential exposure | $ $ 0
DTE Electric  
Variable Interest Entity [Line Items]  
Material potential exposure | $ $ 0
v3.22.2.2
Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 26 $ 28
Restricted cash 25 7
Securitized regulatory assets 214 0
Total Assets 41,954 39,719
LIABILITIES    
Short-term borrowings 994 758
DTE Electric    
ASSETS    
Cash and cash equivalents 8 9
Restricted cash 23 0
Securitized regulatory assets 214 0
Total Assets 29,767 28,405
Variable interest entity, primary beneficiary    
ASSETS    
Cash and cash equivalents 10 11
Restricted cash 23 6
Securitized regulatory assets 214 0
Notes receivable 80 70
Other current and long-term assets 14 8
Total Assets 341 95
LIABILITIES    
Short-term borrowings 79 75
Securitization bonds 232 0
Other current and long-term liabilities 17 5
Total liabilities 328 $ 80
Current portion of securitization bonds 40  
Variable interest entity, primary beneficiary | DTE Electric    
ASSETS    
Cash and cash equivalents 0  
Restricted cash 23  
Securitized regulatory assets 214  
Notes receivable 0  
Other current and long-term assets 2  
Total Assets 239  
LIABILITIES    
Short-term borrowings 0  
Securitization bonds 232  
Other current and long-term liabilities 11  
Total liabilities 243  
Current portion of securitization bonds $ 40  
v3.22.2.2
Organization and Basis of Presentation (Non-Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Variable Interest Entity [Line Items]    
Investments in equity method investees $ 169 $ 187
Notes receivable 316 310
Variable interest entity, non-consolidated    
Variable Interest Entity [Line Items]    
Investments in equity method investees 141 172
Notes receivable 15 13
Future funding commitments $ 2 $ 3
v3.22.2.2
Significant Accounting Policies (Other Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Schedule of Other Nonoperating Income, by Component [Line Items]        
Contract services $ 7 $ 6 $ 21 $ 21
Allowance for equity funds used during construction 6 7 20 20
Income from REF entities 0 57 0 102
Gains from rabbi trust securities 0 0 0 4
Equity earnings (losses) of equity method investees 0 17 (15) 31
Other 3 3 9 9
Total other income 16 90 35 187
DTE Electric        
Schedule of Other Nonoperating Income, by Component [Line Items]        
Contract services 7 6 21 21
Allowance for equity funds used during construction 6 6 18 18
Gains from rabbi trust securities 0 0 0 4
Other 2 2 7 9
Total other income $ 15 $ 14 $ 46 $ 52
v3.22.2.2
Significant Accounting Policies (Income Taxes) (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Schedule of Income Taxes [Line Items]        
Effective Tax Rate 2.00% 186.00% 0.00% (34.00%)
DTE Electric        
Schedule of Income Taxes [Line Items]        
Effective Tax Rate 2.00% 12.00% 2.00% 10.00%
v3.22.2.2
Significant Accounting Policies (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Significant Accounting Policies [Line Items]          
Effective tax rate increase (decrease) (184.00%)   34.00%    
Effective tax rate increase (decrease) due to deferred tax remeasurement (133.00%)   23.00%    
Effective tax rate increase (decrease) due to annual production tax credits (57.00%)   17.00%    
Effective tax rate decrease due to amortization of TCJA regulatory liability 32.00%        
Effective tax rate increase (decrease) due to valuation allowance 28.00%   (5.00%)    
Effective tax rate increase due to deferred intercompany gain 13.00%        
Unrecognized compensation cost $ 81   $ 81    
Recognition period (in years)     1 year 4 months 24 days    
Specific review of probable future collections based on receivable balances, threshold duration     30 days    
State          
Significant Accounting Policies [Line Items]          
Unrecognized tax benefits 10   $ 10    
Unrecognized tax benefits reasonably possible to be recognized in the next 12 months 8   8    
Unrecognized tax benefits that, if recognized, would favorably impact effective tax rates 6   6    
Past due          
Significant Accounting Policies [Line Items]          
Financing receivables 0   0    
Notes receivable          
Significant Accounting Policies [Line Items]          
Financing receivables $ 65   $ 65    
Notes receivable | Minimum          
Significant Accounting Policies [Line Items]          
Number of days after which receivable is considered delinquent 60 days   60 days    
Notes receivable | Maximum          
Significant Accounting Policies [Line Items]          
Number of days after which receivable is considered delinquent 120 days   120 days    
DTE Electric and DTE Gas          
Significant Accounting Policies [Line Items]          
Threshold period past due for write-off of trade accounts receivable     150 days    
DTE Electric and DTE Gas | Accounts receivable          
Significant Accounting Policies [Line Items]          
Number of days after which receivable is considered delinquent 21 days   21 days    
DTE Electric          
Significant Accounting Policies [Line Items]          
Effective tax rate increase (decrease) (10.00%)   (8.00%)    
DTE Electric | State          
Significant Accounting Policies [Line Items]          
Unrecognized tax benefits $ 13   $ 13    
Unrecognized tax benefits reasonably possible to be recognized in the next 12 months 9   9    
Unrecognized tax benefits that, if recognized, would favorably impact effective tax rates 7   7    
DTE Electric | Notes receivable          
Significant Accounting Policies [Line Items]          
Financing receivables 17   17    
DTE Electric | DTE Energy          
Significant Accounting Policies [Line Items]          
Income tax receivable 31   31   $ 33
Income tax payable         $ 2
Allocated costs $ 9 $ 10 $ 30 $ 35  
v3.22.2.2
Significant Accounting Policies (Financing Receivables Classified by Internal Grade of Credit Risk) (Details)
$ in Millions
Sep. 30, 2022
USD ($)
Notes receivable  
Financing Receivable, Credit Quality Indicator [Line Items]  
2022 $ 25
2021 3
2020 and Prior 37
Total 65
Notes receivable | DTE Electric  
Financing Receivable, Credit Quality Indicator [Line Items]  
Total 17
Notes receivable | Internal grade 1  
Financing Receivable, Credit Quality Indicator [Line Items]  
2022 0
2021 0
2020 and Prior 21
Total 21
Notes receivable | Internal grade 1 | DTE Electric  
Financing Receivable, Credit Quality Indicator [Line Items]  
Total 17
Notes receivable | Internal grade 2  
Financing Receivable, Credit Quality Indicator [Line Items]  
2022 25
2021 3
2020 and Prior 16
Total 44
Notes receivable | Internal grade 2 | DTE Electric  
Financing Receivable, Credit Quality Indicator [Line Items]  
Total 0
Net investment in leases  
Financing Receivable, Credit Quality Indicator [Line Items]  
2022 64
2021 0
2020 and Prior 227
Total 291
Net investment in leases | DTE Electric  
Financing Receivable, Credit Quality Indicator [Line Items]  
Total 0
Net investment in leases | Internal grade 1  
Financing Receivable, Credit Quality Indicator [Line Items]  
2022 0
2021 0
2020 and Prior 38
Total 38
Net investment in leases | Internal grade 1 | DTE Electric  
Financing Receivable, Credit Quality Indicator [Line Items]  
Total 0
Net investment in leases | Internal grade 2  
Financing Receivable, Credit Quality Indicator [Line Items]  
2022 64
2021 0
2020 and Prior 189
Total 253
Net investment in leases | Internal grade 2 | DTE Electric  
Financing Receivable, Credit Quality Indicator [Line Items]  
Total $ 0
v3.22.2.2
Significant Accounting Policies (Roll-Forward of Activity for Financing Receivables Credit Loss Reserves) (Details) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 92 $ 104
Current period provision 41 54
Write-offs charged against allowance (72) (127)
Recoveries of amounts previously written off 34 61
Ending balance 95 92
DTE Electric    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 54 57
Current period provision 25 36
Write-offs charged against allowance (47) (77)
Recoveries of amounts previously written off 21 38
Ending balance 53 54
Trade accounts receivable    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 89 101
Current period provision 41 53
Write-offs charged against allowance (72) (126)
Recoveries of amounts previously written off 34 61
Ending balance 92 89
Other receivables    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 3 3
Current period provision 0 1
Write-offs charged against allowance 0 (1)
Recoveries of amounts previously written off 0 0
Ending balance $ 3 $ 3
v3.22.2.2
Significant Accounting Policies (Uncollectible Expense) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Uncollectible expense $ 12 $ 7 $ 46 $ 42
DTE Electric        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Uncollectible expense $ 12 $ 10 $ 28 $ 26
v3.22.2.2
Discontinued Operations (Financial Results That Have Been Reclassified from Continuing Operations and Included in Discontinued Operations) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Other (Income) and Deductions        
Net Income (Loss) from Discontinued Operations, Net of Taxes $ 0 $ (33) $ 0 $ 112
Less: Net Income Attributable to Noncontrolling Interests 0 0 0 6
Net Income (Loss) from Discontinued Operations $ 0 (33) $ 0 106
Transaction costs   30   59
DT Midstream | Discontinued operations, spinoff        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Operating Revenues — Non-utility operations   0   405
Operating Expenses        
Cost of gas and other — non-utility   0   15
Operation and maintenance   30   124
Depreciation and amortization   0   82
Taxes other than income   0   13
Asset (gains) losses and impairments, net   0   17
Operating Expenses   30   251
Operating Income (Loss)   (30)   154
Other (Income) and Deductions        
Interest expense   0   50
Interest income   0   (4)
Other income   0   (62)
Other (Income) and Deductions   0   (16)
Income (Loss) from Discontinued Operations Before Income Taxes   (30)   170
Income Tax Expense   3   58
Net Income (Loss) from Discontinued Operations, Net of Taxes   (33)   112
Less: Net Income Attributable to Noncontrolling Interests   0   6
Net Income (Loss) from Discontinued Operations   $ (33)   $ 106
v3.22.2.2
Discontinued Operations (Significant Non-cash Items and Capital Expenditures) (Details) - DT Midstream - Discontinued operations, spinoff
$ in Millions
 9 Months Ended
Sep. 30, 2021
USD ($)
Operating Activities  
Depreciation and amortization $ 82
Deferred income taxes 57
Equity earnings of equity method investees (59)
Asset (gains) losses and impairments, net 19
Investing Activities  
Plant and equipment expenditures — non-utility $ (60)
v3.22.2.2
Revenue (Disaggregation of Revenue By Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Disaggregation of Revenue [Line Items]        
Revenues $ 5,251 $ 3,715 $ 14,752 $ 10,317
Electric        
Disaggregation of Revenue [Line Items]        
Revenues 1,847 1,702 4,907 4,477
Electric | Residential        
Disaggregation of Revenue [Line Items]        
Revenues 882 885 2,273 2,262
Electric | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues 541 533 1,505 1,452
Electric | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues 167 167 498 473
Electric | Other        
Disaggregation of Revenue [Line Items]        
Revenues 257 117 631 290
Electric | Other | DTE Sustainable Generation        
Disaggregation of Revenue [Line Items]        
Revenues 3 2 11 9
Gas        
Disaggregation of Revenue [Line Items]        
Revenues 230 193 1,358 1,070
Gas | Other        
Disaggregation of Revenue [Line Items]        
Revenues 45 44 148 114
Gas | Gas sales        
Disaggregation of Revenue [Line Items]        
Revenues 128 95 955 726
Gas | End User Transportation        
Disaggregation of Revenue [Line Items]        
Revenues 42 38 195 171
Gas | Intermediate Transportation        
Disaggregation of Revenue [Line Items]        
Revenues 15 16 60 59
DTE Vantage        
Disaggregation of Revenue [Line Items]        
Revenues 227 372 626 1,132
Energy Trading        
Disaggregation of Revenue [Line Items]        
Revenues $ 3,024 $ 1,602 $ 8,059 $ 4,208
v3.22.2.2
Revenue (Revenues Outside the Scope of Topic 606) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Disaggregation of Revenue [Line Items]        
Leases $ 24 $ 68 $ 63 $ 132
Electric        
Disaggregation of Revenue [Line Items]        
Other revenues 7 6 15 14
Gas        
Disaggregation of Revenue [Line Items]        
Other revenues 2 1 6 5
DTE Vantage        
Disaggregation of Revenue [Line Items]        
Leases 24 26 63 70
Energy Trading        
Disaggregation of Revenue [Line Items]        
Derivatives $ 2,531 $ 1,324 $ 6,691 $ 3,377
v3.22.2.2
Revenue (Deferred Revenue Activity) (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2022
USD ($)
Contract Liability [Roll Forward]  
Beginning Balance $ 78
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 86
Revenue recognized that was included in the deferred revenue balance at the beginning of the period (54)
Ending Balance $ 110
v3.22.2.2
Revenue (Expected Recognition of Deferred Revenue) (Details)
$ in Millions
Sep. 30, 2022
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 110
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 42
Remaining performance obligation, expected timing of satisfaction 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 64
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 2
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction
v3.22.2.2
Revenue (Expected Timing of Performance Obligation Satisfaction) (Details)
$ in Millions
Sep. 30, 2022
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 110
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 42
Remaining performance obligation, expected timing of satisfaction 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 64
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 2
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction
Fixed-price Contract  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1,067
Fixed-price Contract | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation 17
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 43
Remaining performance obligation, expected timing of satisfaction 3 months
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 2
Remaining performance obligation, expected timing of satisfaction 3 months
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 292
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 7
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 192
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 7
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 118
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 67
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 355
Remaining performance obligation, expected timing of satisfaction
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction
v3.22.2.2
Regulatory Matters (Details Textuals) - USD ($)
$ in Millions
Mar. 17, 2022
Jan. 21, 2022
Sep. 30, 2022
Jun. 23, 2021
Public Utilities, General Disclosures [Line Items]        
Long-term debt issued     $ 1,796  
DTE Electric        
Public Utilities, General Disclosures [Line Items]        
Securitized regulatory assets $ 230      
DTE Electric | Tree trimming | Maximum        
Public Utilities, General Disclosures [Line Items]        
Amortization period for regulatory asset 5 years      
DTE Electric | River Rouge | Maximum        
Public Utilities, General Disclosures [Line Items]        
Amortization period for regulatory asset 14 years      
DTE Electric | Securitization Bonds        
Public Utilities, General Disclosures [Line Items]        
Long-term debt issued $ 236      
DTE Electric | MPSC        
Public Utilities, General Disclosures [Line Items]        
Authorized issuance of securitization bonds of qualified costs, maximum       $ 236
DTE Electric | MPSC | 2022 Electric Rate Case Filing        
Public Utilities, General Disclosures [Line Items]        
Requested rate increase   $ 388    
Return on equity percent   9.90%    
Return on equity requested percent   10.25%    
DTE Electric | MPSC | Net book value of River Rouge generation plant        
Public Utilities, General Disclosures [Line Items]        
Authorized issuance of securitization bonds of qualified costs, maximum       73
DTE Electric | MPSC | Tree trimming surge program costs        
Public Utilities, General Disclosures [Line Items]        
Authorized issuance of securitization bonds of qualified costs, maximum       157
DTE Electric | MPSC | Other        
Public Utilities, General Disclosures [Line Items]        
Authorized issuance of securitization bonds of qualified costs, maximum       $ 6
v3.22.2.2
Earnings Per Share (Basic and Diluted Income Per Share Calculation) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Basic Earnings per Share        
Net Income Attributable to DTE Energy Company — continuing operations $ 387 $ 58 $ 818 $ 495
Less: Allocation of earnings to net restricted stock awards 1 0 2 1
Net income from continuing operations available to common shareholders — basic 386 58 816 494
Net Income Attributable to DTE Energy Company — discontinued operations 0 (33) 0 106
Net income available to common shareholders — basic $ 386 $ 25 $ 816 $ 600
Average number of common shares outstanding — basic (in shares) 193.0 193.0 193.0 193.0
Income from continuing operations (in dollars per share) $ 2.00 $ 0.30 $ 4.22 $ 2.55
Income from discontinued operations (in dollars per share) 0 (0.17) 0 0.55
Basic Earnings per Common Share (in dollars per share) $ 2.00 $ 0.13 $ 4.22 $ 3.10
Diluted Earnings per Share        
Net Income Attributable to DTE Energy Company — continuing operations $ 387 $ 58 $ 818 $ 495
Less: Allocation of earnings to net restricted stock awards 1 0 2 1
Net income from continuing operations available to common shareholders — diluted 386 58 816 494
Net Income Attributable to DTE Energy Company — discontinued operations 0 (33) 0 106
Net income available to common shareholders — diluted $ 386 $ 25 $ 816 $ 600
Average number of common shares outstanding — basic (in shares) 193.0 193.0 193.0 193.0
Average dilutive equity units and performance share awards (in shares) 1.0 1.0 1.0 1.0
Average number of common shares outstanding — diluted (in shares) 194.0 194.0 194.0 194.0
Income from continuing operations (in dollars per share) $ 1.99 $ 0.30 $ 4.21 $ 2.55
Income from discontinued operations (in dollars per share) 0 (0.17) 0 0.55
Diluted Earnings per Common Share (in dollars per share) $ 1.99 $ 0.13 $ 4.21 $ 3.10
Antidilutive securities excluded from computation of earnings per share (in shares) 10.1 11.1 10.2 11.5
v3.22.2.2
Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Derivative assets    
Derivative assets, gross $ 2,754 $ 1,391
Derivative asset, netting (2,236) (1,120)
Derivative liabilities    
Derivative liabilities, gross (2,996) (1,508)
Derivative liability, netting 2,242 1,078
DTE Electric    
Assets    
Nuclear decommissioning trusts 1,764 2,071
Current liabilities    
Derivative liabilities    
Derivative liabilities, gross (2,282) (1,037)
Noncurrent liabilities    
Derivative liabilities    
Derivative liabilities, gross (714) (471)
Natural gas    
Derivative assets    
Derivative assets, gross 891 454
Derivative asset, netting (852) (394)
Derivative liabilities    
Derivative liabilities, gross (1,193) (594)
Derivative liability, netting 772 347
Electricity    
Derivative assets    
Derivative assets, gross 1,622 643
Derivative asset, netting (1,160) (441)
Derivative liabilities    
Derivative liabilities, gross (1,577) (622)
Derivative liability, netting 1,244 443
Environmental & Other    
Derivative assets    
Derivative assets, gross 238 294
Derivative asset, netting (224) (285)
Derivative liabilities    
Derivative liabilities, gross (225) (288)
Derivative liability, netting 226 288
Foreign currency exchange contracts    
Derivative assets    
Derivative assets, gross 3 0
Derivative asset, netting 0 0
Derivative liabilities    
Derivative liabilities, gross (1) (4)
Derivative liability, netting 0 0
Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 29 39
Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 259 205
Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 118 76
Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 808 1,107
Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 550 644
Recurring    
Assets    
Cash equivalents 26 4
Derivative assets    
Derivative asset, netting (2,236) (1,120)
Derivative assets, net 518 271
Total assets 2,438 2,507
Derivative liabilities    
Derivative liability, netting 2,242 1,078
Derivative liabilities, net (754) (430)
Net Assets (Liabilities) at end of period 1,684 2,077
Net Assets (Liabilities) at end of period, netting 6 (42)
Recurring | DTE Electric    
Assets    
Cash equivalents 23 0
Derivative assets    
Total assets 1,829 2,111
Recurring | Current assets    
Derivative assets    
Derivative asset, netting (1,814) (854)
Total assets 421 185
Recurring | Current assets | DTE Electric    
Derivative assets    
Total assets 39 9
Recurring | Noncurrent assets    
Derivative assets    
Derivative asset, netting (422) (266)
Total assets 2,017 2,322
Recurring | Noncurrent assets | DTE Electric    
Derivative assets    
Total assets 1,790 2,102
Recurring | Current liabilities    
Derivative liabilities    
Derivative liability, netting 1,784 799
Derivative liabilities, net (498) (238)
Recurring | Noncurrent liabilities    
Derivative liabilities    
Derivative liability, netting 458 279
Derivative liabilities, net (256) (192)
Recurring | Restricted cash    
Assets    
Cash equivalents 25 1
Recurring | Restricted cash | DTE Electric    
Assets    
Cash equivalents 23  
Recurring | Natural gas    
Derivative assets    
Derivative asset, netting (852) (394)
Derivative assets, net 39 60
Derivative liabilities    
Derivative liability, netting 772 347
Derivative liabilities, net (421) (247)
Recurring | Electricity    
Derivative assets    
Derivative asset, netting (1,160) (441)
Derivative assets, net 462 202
Derivative liabilities    
Derivative liability, netting 1,244 443
Derivative liabilities, net (333) (179)
Recurring | Environmental & Other    
Derivative assets    
Derivative asset, netting (224) (285)
Derivative assets, net 14 9
Derivative liabilities    
Derivative liability, netting 226 288
Derivative liabilities, net 1 0
Recurring | Foreign currency exchange contracts    
Derivative assets    
Derivative asset, netting 0 0
Derivative assets, net 3 0
Derivative liabilities    
Derivative liability, netting 0 0
Derivative liabilities, net (1) (4)
Recurring | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 16 9
Recurring | Cash equivalents    
Assets    
Nuclear decommissioning trusts 29 39
Other investments 71 86
Recurring | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 29 39
Other investments 11 11
Recurring | Private equity and other    
Assets    
Nuclear decommissioning trusts 259 205
Recurring | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 259 205
Recurring | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 118 76
Recurring | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 118 76
Recurring | Equity securities    
Assets    
Nuclear decommissioning trusts 808 1,107
Other investments 52 68
Recurring | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 808 1,107
Other investments 15 20
Recurring | Fixed income securities    
Assets    
Nuclear decommissioning trusts 550 644
Other investments 7 7
Recurring | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 550 644
Recurring | Level 1    
Assets    
Cash equivalents 26 4
Derivative assets    
Derivative assets, gross 554 273
Total assets 1,571 1,576
Derivative liabilities    
Derivative liabilities, gross (293) (177)
Net Assets (Liabilities) at end of period 1,278 1,399
Recurring | Level 1 | DTE Electric    
Assets    
Cash equivalents 23 0
Derivative assets    
Total assets 910 1,169
Recurring | Level 1 | Current assets    
Derivative assets    
Total assets 453 227
Recurring | Level 1 | Current assets | DTE Electric    
Derivative assets    
Total assets 23 0
Recurring | Level 1 | Noncurrent assets    
Derivative assets    
Total assets 1,118 1,349
Recurring | Level 1 | Noncurrent assets | DTE Electric    
Derivative assets    
Total assets 887 1,169
Recurring | Level 1 | Current liabilities    
Derivative liabilities    
Derivative liabilities, gross (263) (168)
Recurring | Level 1 | Noncurrent liabilities    
Derivative liabilities    
Derivative liabilities, gross (30) (9)
Recurring | Level 1 | Natural gas    
Derivative assets    
Derivative assets, gross 554 273
Derivative liabilities    
Derivative liabilities, gross (293) (177)
Recurring | Level 1 | Electricity    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 1 | Environmental & Other    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 1 | Foreign currency exchange contracts    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 1 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 0 0
Recurring | Level 1 | Cash equivalents    
Assets    
Nuclear decommissioning trusts 29 39
Other investments 71 86
Recurring | Level 1 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 29 39
Other investments 11 11
Recurring | Level 1 | Private equity and other    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 1 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 1 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 77 58
Recurring | Level 1 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 77 58
Recurring | Level 1 | Equity securities    
Assets    
Nuclear decommissioning trusts 653 917
Other investments 52 68
Recurring | Level 1 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 653 917
Other investments 15 20
Recurring | Level 1 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 102 124
Other investments 7 7
Recurring | Level 1 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 102 124
Recurring | Level 2    
Assets    
Cash equivalents 0 0
Derivative assets    
Derivative assets, gross 1,643 900
Total assets 2,041 1,336
Derivative liabilities    
Derivative liabilities, gross (1,772) (898)
Net Assets (Liabilities) at end of period 269 438
Recurring | Level 2 | DTE Electric    
Assets    
Cash equivalents 0 0
Derivative assets    
Total assets 398 436
Recurring | Level 2 | Current assets    
Derivative assets    
Total assets 1,340 646
Recurring | Level 2 | Current assets | DTE Electric    
Derivative assets    
Total assets 0 0
Recurring | Level 2 | Noncurrent assets    
Derivative assets    
Total assets 701 690
Recurring | Level 2 | Noncurrent assets | DTE Electric    
Derivative assets    
Total assets 398 436
Recurring | Level 2 | Current liabilities    
Derivative liabilities    
Derivative liabilities, gross (1,382) (609)
Recurring | Level 2 | Noncurrent liabilities    
Derivative liabilities    
Derivative liabilities, gross (390) (289)
Recurring | Level 2 | Natural gas    
Derivative assets    
Derivative assets, gross 233 115
Derivative liabilities    
Derivative liabilities, gross (483) (172)
Recurring | Level 2 | Electricity    
Derivative assets    
Derivative assets, gross 1,185 500
Derivative liabilities    
Derivative liabilities, gross (1,064) (434)
Recurring | Level 2 | Environmental & Other    
Derivative assets    
Derivative assets, gross 222 285
Derivative liabilities    
Derivative liabilities, gross (224) (288)
Recurring | Level 2 | Foreign currency exchange contracts    
Derivative assets    
Derivative assets, gross 3 0
Derivative liabilities    
Derivative liabilities, gross (1) (4)
Recurring | Level 2 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 0 0
Recurring | Level 2 | Cash equivalents    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Private equity and other    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 2 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 2 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 41 18
Recurring | Level 2 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 41 18
Recurring | Level 2 | Equity securities    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 357 418
Other investments 0 0
Recurring | Level 2 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 357 418
Recurring | Level 3    
Assets    
Cash equivalents 0 0
Derivative assets    
Derivative assets, gross 557 218
Total assets 557 218
Derivative liabilities    
Derivative liabilities, gross (931) (433)
Net Assets (Liabilities) at end of period (374) (215)
Recurring | Level 3 | DTE Electric    
Assets    
Cash equivalents 0 0
Derivative assets    
Total assets 16 9
Recurring | Level 3 | Current assets    
Derivative assets    
Total assets 442 166
Recurring | Level 3 | Current assets | DTE Electric    
Derivative assets    
Total assets 16 9
Recurring | Level 3 | Noncurrent assets    
Derivative assets    
Total assets 115 52
Recurring | Level 3 | Noncurrent assets | DTE Electric    
Derivative assets    
Total assets 0 0
Recurring | Level 3 | Current liabilities    
Derivative liabilities    
Derivative liabilities, gross (637) (260)
Recurring | Level 3 | Noncurrent liabilities    
Derivative liabilities    
Derivative liabilities, gross (294) (173)
Recurring | Level 3 | Natural gas    
Derivative assets    
Derivative assets, gross 104 66
Derivative liabilities    
Derivative liabilities, gross (417) (245)
Recurring | Level 3 | Electricity    
Derivative assets    
Derivative assets, gross 437 143
Derivative liabilities    
Derivative liabilities, gross (513) (188)
Recurring | Level 3 | Environmental & Other    
Derivative assets    
Derivative assets, gross 16 9
Derivative liabilities    
Derivative liabilities, gross (1) 0
Recurring | Level 3 | Foreign currency exchange contracts    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 3 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 16 9
Recurring | Level 3 | Cash equivalents    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Private equity and other    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Equity securities    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Other    
Derivative assets    
Total assets 505 497
Derivative liabilities    
Net Assets (Liabilities) at end of period 505 497
Recurring | Other | DTE Electric    
Derivative assets    
Total assets 505 497
Recurring | Other | Noncurrent assets    
Derivative assets    
Total assets 505 497
Recurring | Other | Noncurrent assets | DTE Electric    
Derivative assets    
Total assets 505 497
Recurring | Other | Private equity and other    
Assets    
Nuclear decommissioning trusts 259 205
Recurring | Other | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 259 205
Recurring | Other | Equity securities    
Assets    
Nuclear decommissioning trusts 155 190
Recurring | Other | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 155 190
Recurring | Other | Fixed income securities    
Assets    
Nuclear decommissioning trusts 91 102
Recurring | Other | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts $ 91 $ 102
v3.22.2.2
Fair Value (Details Textuals) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Nuclear decommissioning trust fund | Fixed income securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities with no contractual maturity date $ 91  
Equity or debt securities | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments, redemption notice period 7 days  
Equity or debt securities | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments, redemption notice period 65 days  
Private equity and other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unfunded commitments related to investments classified as NAV assets $ 190 $ 199
Private equity and other | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments classified as NAV assets, general contractual durations 7 years  
Private equity and other | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments classified as NAV assets, general contractual durations 12 years  
v3.22.2.2
Fair Value (Reconciliation of Level 3 Assets and Liabilities at Fair Value on a Recurring Basis) (Details) - Recurring - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period $ (428) $ (215) $ (215) $ (2)
Transfers into Level 3 from Level 2 (3) 0    
Transfers from Level 3 into Level 2 (5) 0 5 0
Total gains (losses)        
Included in earnings 7 (183) (359) (361)
Recorded in Regulatory liabilities (4) (1) 20 14
Purchases, issuances, and settlements        
Settlements 59 36 175 (14)
Net Assets (Liabilities) as of end of period (374) (363) (374) (363)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 61 (141) (281) (372)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period (1) 0 16 12
DTE Electric        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period 25 15 9 4
Total gains (losses)        
Recorded in Regulatory liabilities (4) (1) 20 14
Purchases, issuances, and settlements        
Settlements (5) (2) (13) (6)
Net Assets (Liabilities) as of end of period 16 12 16 12
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period (1) 0 16 12
Natural gas        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period (362) (181) (179) (16)
Transfers into Level 3 from Level 2 (3) 0    
Transfers from Level 3 into Level 2 0 0 5 0
Total gains (losses)        
Included in earnings (32) (162) (382) (356)
Recorded in Regulatory liabilities 0 0 0 0
Purchases, issuances, and settlements        
Settlements 84 63 243 92
Net Assets (Liabilities) as of end of period (313) (280) (313) (280)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 29 (109) (248) (301)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 0 0 0 0
Electricity        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period (96) (49) (45) 10
Transfers into Level 3 from Level 2 0 0    
Transfers from Level 3 into Level 2 0 0 0 0
Total gains (losses)        
Included in earnings 40 (21) 22 (5)
Recorded in Regulatory liabilities 0 0 0 0
Purchases, issuances, and settlements        
Settlements (20) (25) (53) (100)
Net Assets (Liabilities) as of end of period (76) (95) (76) (95)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 37 (30) (2) (54)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 0 0 0 0
Other        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period 30 15 9 4
Transfers into Level 3 from Level 2 0 0    
Transfers from Level 3 into Level 2 (5) 0 0 0
Total gains (losses)        
Included in earnings (1) 0 1 0
Recorded in Regulatory liabilities (4) (1) 20 14
Purchases, issuances, and settlements        
Settlements (5) (2) (15) (6)
Net Assets (Liabilities) as of end of period 15 12 15 12
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period (5) (2) (31) (17)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period $ (1) $ 0 $ 16 $ 12
v3.22.2.2
Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details)
$ in Millions
Sep. 30, 2022
USD ($)
$ / MMBTU
$ / MWh
Dec. 31, 2021
USD ($)
$ / MMBTU
$ / MWh
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 2,754 $ 1,391
Derivative Liabilities (2,996) (1,508)
Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 891 454
Derivative Liabilities (1,193) (594)
Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 1,622 643
Derivative Liabilities $ (1,577) $ (622)
Level 3 | Natural gas | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU (2.34) (1.36)
Level 3 | Natural gas | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU 9.94 3.82
Level 3 | Natural gas | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU 0.02 (0.04)
Level 3 | Electricity | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (50) (12)
Level 3 | Electricity | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh 20 7
Level 3 | Electricity | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (4) (2)
Recurring | Level 3    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 557 $ 218
Derivative Liabilities (931) (433)
Recurring | Level 3 | Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 104 66
Derivative Liabilities (417) (245)
Recurring | Level 3 | Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 437 143
Derivative Liabilities $ (513) $ (188)
v3.22.2.2
Fair Value (Fair Value of Financial Instruments) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Carrying amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable $ 65 $ 150
Short-term borrowings 994 758
Notes payable 17 27
Long-term debt 18,846 17,378
Carrying amount | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 17 17
Short-term borrowings 459 153
Notes payable 17 27
Long-term debt 9,714 8,907
Carrying amount | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 78 53
Fair value | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 0 0
Notes payable 0 0
Long-term debt 731 2,284
Fair value | Level 1 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 0 0
Notes payable 0 0
Long-term debt 0 0
Fair value | Level 1 | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 0 0
Fair value | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 994 758
Notes payable 0 0
Long-term debt 14,776 15,425
Fair value | Level 2 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 459 153
Notes payable 0 0
Long-term debt 8,191 9,898
Fair value | Level 2 | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 0 0
Fair value | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 65 167
Short-term borrowings 0 0
Notes payable 17 27
Long-term debt 1,189 1,207
Fair value | Level 3 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 17 17
Short-term borrowings 0 0
Notes payable 17 27
Long-term debt 133 150
Fair value | Level 3 | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings $ 78 $ 53
v3.22.2.2
Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds $ 1,764 $ 2,071
DTE Electric    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 1,764 2,071
DTE Electric | Nuclear decommissioning trust fund    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 1,764 2,071
DTE Electric | Nuclear decommissioning trust fund | Fermi 2    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 1,742 2,051
DTE Electric | Nuclear decommissioning trust fund | Fermi 1    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 3 3
DTE Electric | Nuclear decommissioning trust fund | Low-level radioactive waste    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds $ 19 $ 17
v3.22.2.2
Fair Value (Gains and Losses and Proceeds from the Sale of Securities by the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - Nuclear decommissioning trust fund - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Debt Securities, Available-for-sale [Line Items]        
Realized gains $ 19 $ 21 $ 65 $ 80
Realized losses (19) (1) (42) (9)
Proceeds from sale of securities $ 194 $ 217 $ 707 $ 854
v3.22.2.2
Fair Value (Fair Value and Unrealized Gains and Losses for the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]    
Fair Value $ 1,764 $ 2,071
Unrealized Gains 358 628
Unrealized Losses (120) (25)
Cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 29 39
Unrealized Gains 0 0
Unrealized Losses 0 0
Private equity and other    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 259 205
Unrealized Gains 72 58
Unrealized Losses (4) (8)
Hedge funds and similar investments    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 118 76
Unrealized Gains 0 1
Unrealized Losses (20) (2)
Equity securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 808 1,107
Unrealized Gains 285 546
Unrealized Losses (31) (9)
Fixed income securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 550 644
Unrealized Gains 1 23
Unrealized Losses $ (65) $ (6)
v3.22.2.2
Fair Value (Fair Value of Fixed Income Securities Held in Nuclear Decommissioning Trust Funds (Details) - Fixed income securities - Nuclear decommissioning trust fund
$ in Millions
Sep. 30, 2022
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due within one year $ 22
Due after one through five years 105
Due after five through ten years 92
Due after ten years 240
Fixed income securities total $ 459
v3.22.2.2
Fair Value (Gains (Losses) Related to the Trust) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Rabbi Trust        
Schedule of Investments [Line Items]        
Gains (losses) related to the trust $ (2) $ (1) $ (8) $ 3
Equity securities        
Schedule of Investments [Line Items]        
Gains (losses) related to the trust (2) (1) (7) 3
Fixed income securities        
Schedule of Investments [Line Items]        
Gains (losses) related to the trust $ 0 $ 0 $ (1) $ 0
v3.22.2.2
Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 2,754 $ 1,391
Derivative Liabilities (2,996) (1,508)
Current derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 2,209 1,035
Current derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (2,282) (1,037)
Noncurrent derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 545 356
Noncurrent derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (714) (471)
Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 3 0
Derivative Liabilities (1) (4)
Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 891 454
Derivative Liabilities (1,193) (594)
Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1,622 643
Derivative Liabilities (1,577) (622)
Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 238 294
Derivative Liabilities (225) (288)
Derivatives designated as hedging instruments | Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0 0
Derivative Liabilities (1) (4)
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative Assets 2,754 1,391
Derivative Liabilities (2,995) (1,504)
Derivatives not designated as hedging instruments | Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 3 0
Derivative Liabilities 0 0
Derivatives not designated as hedging instruments | Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 891 454
Derivative Liabilities (1,193) (594)
Derivatives not designated as hedging instruments | Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1,622 643
Derivative Liabilities (1,577) (622)
Derivatives not designated as hedging instruments | Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 238 294
Derivative Liabilities (225) (288)
Derivatives not designated as hedging instruments | FTRs | Other current assets | DTE Electric    
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 16 $ 9
v3.22.2.2
Financial and Other Derivative Instruments (Details Textuals) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Letters of credit that could be used to offset net derivative liabilities $ 79 $ 18
Letters of credit received that could be used to offset net derivative assets 56 $ 37
Contractual obligation to post collateral in event of downgrade to below investment grade 699  
Derivative net liability position aggregate fair value 2,600  
Collateral already posted fair value 287  
Derivative net asset position, fair value 1,900  
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions $ 351  
v3.22.2.2
Financial and Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Cash collateral netted against Derivative assets $ (272) $ (90)
Cash collateral netted against Derivative liabilities 278 48
Cash collateral recorded in Accounts receivable 103 55
Cash collateral recorded in Accounts payable (19) (21)
Total net cash collateral posted (received) $ 90 $ (8)
v3.22.2.2
Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilities) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) $ 2,754 $ 1,391
Gross Amounts Offset in the Consolidated Statements of Financial Position (2,236) (1,120)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 518 271
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (2,996) (1,508)
Gross Amounts Offset in the Consolidated Statements of Financial Position 2,242 1,078
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (754) (430)
Natural gas    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 891 454
Gross Amounts Offset in the Consolidated Statements of Financial Position (852) (394)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 39 60
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (1,193) (594)
Gross Amounts Offset in the Consolidated Statements of Financial Position 772 347
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (421) (247)
Electricity    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 1,622 643
Gross Amounts Offset in the Consolidated Statements of Financial Position (1,160) (441)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 462 202
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (1,577) (622)
Gross Amounts Offset in the Consolidated Statements of Financial Position 1,244 443
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (333) (179)
Environmental & Other    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 238 294
Gross Amounts Offset in the Consolidated Statements of Financial Position (224) (285)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 14 9
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (225) (288)
Gross Amounts Offset in the Consolidated Statements of Financial Position 226 288
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 1 0
Foreign currency exchange contracts    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 3 0
Gross Amounts Offset in the Consolidated Statements of Financial Position 0 0
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 3 0
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (1) (4)
Gross Amounts Offset in the Consolidated Statements of Financial Position 0 0
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position $ (1) $ (4)
v3.22.2.2
Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Derivative Assets    
Derivative Assets $ 2,754 $ 1,391
Collateral adjustment (272) (90)
Derivative assets, current 395 181
Derivative assets, noncurrent 123 90
Derivative Liabilities    
Derivative Liabilities (2,996) (1,508)
Collateral adjustment 278 48
Derivative liabilities, current (498) (238)
Derivative liabilities, noncurrent (256) (192)
Current derivative assets    
Derivative Assets    
Derivative Assets 2,209 1,035
Counterparty netting (1,609) (791)
Collateral adjustment (205) (63)
Noncurrent derivative assets    
Derivative Assets    
Derivative Assets 545 356
Counterparty netting (355) (239)
Collateral adjustment (67) (27)
Current derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (2,282) (1,037)
Counterparty netting 1,609 791
Collateral adjustment 175 8
Noncurrent derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (714) (471)
Counterparty netting 355 239
Collateral adjustment $ 103 $ 40
v3.22.2.2
Financial and Other Derivative Instruments (Effect of Derivatives not Designated as Hedging Instruments on the Consolidated Statement of Operations) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives $ 119 $ (78) $ (114) $ (281)
Natural gas | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives (52) (214) (315) (371)
Natural gas | Fuel, purchased power, gas, and other — non-utility        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives 108 63 8 (16)
Electricity | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives 61 68 173 143
Environmental & Other | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives (3) 3 15 (36)
Foreign currency exchange contracts | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives $ 5 $ 2 $ 5 $ (1)
v3.22.2.2
Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details)
 9 Months Ended
Sep. 30, 2022
CAD ($)
MWh
MMBTU
T
gal
Natural gas (MMBtu)  
Derivative [Line Items]  
Commodity, energy measures | MMBTU 2,218,333,992
Electricity (MWh)  
Derivative [Line Items]  
Commodity, energy measures 30,593,651
Oil (Gallons)  
Derivative [Line Items]  
Commodity, volume measure | gal 8,532,000
Foreign currency exchange ($ CAD)  
Derivative [Line Items]  
Commodity, monetary measure | $ $ 132,812,314
Renewable Energy Certificates (MWh)  
Derivative [Line Items]  
Commodity, energy measures 7,816,573
Carbon emissions (Metric Tons)  
Derivative [Line Items]  
Commodity, mass measure | T 592,605
v3.22.2.2
Long-Term Debt (Schedule of Issued Debt) (Details) - USD ($)
$ in Millions
 1 Months Ended 9 Months Ended
Mar. 31, 2022
Sep. 30, 2022
Sep. 30, 2021
Aug. 31, 2022
Mar. 17, 2022
Feb. 28, 2022
Debt Instrument [Line Items]            
Amount   $ 1,796        
Redemption of long-term debt   316 $ 3,242      
Term Loan Facility | June 2022 Unsecured Term Loan Maturing in December 2023            
Debt Instrument [Line Items]            
Amount       $ 400    
DTE Electric            
Debt Instrument [Line Items]            
Redemption of long-term debt   $ 316 $ 321      
DTE Electric | Parent            
Debt Instrument [Line Items]            
Payments of special dividend $ 115          
DTE Electric | Mortgage Bonds | February 2022 3.00% Mortgage Bonds Maturing in 2032            
Debt Instrument [Line Items]            
Interest rate           3.00%
Amount           $ 500
DTE Electric | Mortgage Bonds | February 2022 3.65% Mortgage Bonds Maturing In 2052            
Debt Instrument [Line Items]            
Interest rate           3.65%
Amount           $ 400
DTE Electric | Mortgage Bonds | 2012 Series A Mortgage Bonds            
Debt Instrument [Line Items]            
Redemption of long-term debt $ 115          
DTE Electric | Securitization Bonds            
Debt Instrument [Line Items]            
Amount         $ 236  
DTE Electric | Securitization Bonds | March 2022 2.64% Securitization Bonds Maturing in 2027            
Debt Instrument [Line Items]            
Interest rate 2.64%          
Amount $ 184          
DTE Electric | Securitization Bonds | March 2022 3.11% Securitization Bonds Maturing in 2036            
Debt Instrument [Line Items]            
Interest rate 3.11%          
Amount $ 52          
DTE Gas | Mortgage Bonds | September 2022 4.76% Mortgage Bonds Maturing in 2032            
Debt Instrument [Line Items]            
Interest rate   4.76%        
Amount   $ 130        
DTE Gas | Mortgage Bonds | September 2022 5.05% Mortgage Bonds Maturing in 2052            
Debt Instrument [Line Items]            
Interest rate   5.05%        
Amount   $ 130        
v3.22.2.2
Long-Term Debt (Details Textuals) - USD ($)
shares in Millions
 1 Months Ended
Jun. 30, 2022
Nov. 30, 2022
Sep. 30, 2022
Aug. 31, 2022
Aug. 08, 2022
Nov. 30, 2019
Debt Instrument [Line Items]            
Face amount     $ 1,796,000,000      
Equity units subject to mandatory redemption            
Debt Instrument [Line Items]            
Equity units, percentage interest in attached debt instrument           0.05%
Equity units subject to mandatory redemption | Forecast            
Debt Instrument [Line Items]            
Financial instruments subject to mandatory redemption, settlement terms, number of shares (in shares)   12.0        
Equity units subject to mandatory redemption | Maximum | Forecast            
Debt Instrument [Line Items]            
Financial instruments subject to mandatory redemption, settlement terms, number of shares (in shares)   12.2        
Equity units subject to mandatory redemption | Minimum | Forecast            
Debt Instrument [Line Items]            
Financial instruments subject to mandatory redemption, settlement terms, number of shares (in shares)   9.8        
Unsecured term loan | June 2022 Unsecured Term Loan Maturing in December 2023            
Debt Instrument [Line Items]            
Unused borrowing capacity $ 1,125,000,000          
Face amount       $ 400,000,000    
Minimum mandatory draw obligation within sixty days of closing 400,000,000          
Minimum total mandatory draw obligation within six months of closing $ 800,000,000          
Unsecured term loan | June 2022 Unsecured Term Loan Maturing in December 2023 | SOFR            
Debt Instrument [Line Items]            
Basis spread on variable rate 0.90%          
Equity Units | November 2019 Series F 2.25% RSNs Maturing 2025            
Debt Instrument [Line Items]            
Face amount       $ 1,300,000,000   $ 1,300,000,000
Interest rate         4.22% 2.25%
v3.22.2.2
Long-Term Debt (Schedule of Debt Redeemed) (Details) - USD ($)
$ in Millions
 1 Months Ended 9 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2022
Sep. 30, 2021
Debt Instrument, Redemption [Line Items]        
Amount     $ 316 $ 3,242
DTE Electric        
Debt Instrument, Redemption [Line Items]        
Amount     $ 316 $ 321
DTE Electric | Mortgage Bonds | 2.65% Mortgage Bonds maturing in 2022        
Debt Instrument, Redemption [Line Items]        
Interest rate   2.65%    
Amount   $ 250    
DTE Electric | Mortgage Bonds | 6.95% Mortgage Bonds Maturing in 2022        
Debt Instrument, Redemption [Line Items]        
Interest rate 6.95%   6.95%  
Amount $ 66      
v3.22.2.2
Short-Term Credit Arrangements and Borrowings (Details Textuals)
Oct. 27, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
May 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Short-term Debt [Line Items]          
Maximum borrowing capacity   $ 2,954,000,000      
Unsecured letter of credit facility, expiring June 2023 | Letters of credit          
Short-term Debt [Line Items]          
Maximum borrowing capacity   375,000,000      
Unsecured revolving credit facility, expiring April 2026 | Revolving credit facility          
Short-term Debt [Line Items]          
Maximum borrowing capacity   2,300,000,000      
Unsecured revolving credit facility, expiring October 2027 | Revolving credit facility | Subsequent Event          
Short-term Debt [Line Items]          
Maximum borrowing capacity $ 2,600,000,000        
DTE Electric          
Short-term Debt [Line Items]          
Maximum borrowing capacity   $ 500,000,000      
Ratio of indebtedness to net capital   0.52      
DTE Electric | Unsecured letter of credit facility, expiring June 2023 | Letters of credit          
Short-term Debt [Line Items]          
Maximum borrowing capacity   $ 0      
DTE Electric | Unsecured revolving credit facility, expiring April 2026 | Revolving credit facility          
Short-term Debt [Line Items]          
Maximum borrowing capacity   500,000,000      
DTE Electric | Unsecured revolving credit facility, expiring October 2027 | Revolving credit facility | Subsequent Event          
Short-term Debt [Line Items]          
Maximum borrowing capacity $ 800,000,000        
DTE Gas          
Short-term Debt [Line Items]          
Maximum borrowing capacity   $ 300,000,000      
Ratio of indebtedness to net capital   0.50      
DTE Gas | Unsecured letter of credit facility, expiring June 2023 | Letters of credit          
Short-term Debt [Line Items]          
Maximum borrowing capacity   $ 0      
DTE Gas | Unsecured revolving credit facility, expiring April 2026 | Revolving credit facility          
Short-term Debt [Line Items]          
Maximum borrowing capacity   $ 300,000,000      
Maximum | DTE Electric          
Short-term Debt [Line Items]          
Ratio of indebtedness to net capital   0.65      
Maximum | DTE Gas          
Short-term Debt [Line Items]          
Ratio of indebtedness to net capital   0.65      
DTE Energy          
Short-term Debt [Line Items]          
Maximum borrowing capacity   $ 2,154,000,000      
Ratio of indebtedness to net capital   0.68      
DTE Energy | Demand financing agreement          
Short-term Debt [Line Items]          
Maximum borrowing capacity, financing agreement   $ 250,000,000      
Amount outstanding   191,000,000     $ 103,000,000
DTE Energy | Unsecured letter of credit facility, expiring June 2023 | Letters of credit          
Short-term Debt [Line Items]          
Maximum borrowing capacity   375,000,000 $ 375,000,000 $ 70,000,000  
DTE Energy | Unsecured revolving credit facility, expiring April 2026 | Revolving credit facility          
Short-term Debt [Line Items]          
Maximum borrowing capacity   1,500,000,000      
DTE Energy | Demand financing agreement, up to $50 million | Demand financing agreement          
Short-term Debt [Line Items]          
Maximum borrowing capacity, financing agreement   50,000,000      
Maximum additional margin financing   50,000,000      
DTE Energy | Demand financing agreement, up to $150 million | Demand financing agreement          
Short-term Debt [Line Items]          
Maximum borrowing capacity, financing agreement   $ 150,000,000      
DTE Energy | Maximum          
Short-term Debt [Line Items]          
Ratio of indebtedness to net capital   0.70      
v3.22.2.2
Short-Term Credit Arrangements and Borrowings (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Jun. 30, 2022
May 31, 2022
Availability under combined facilities      
Maximum borrowing capacity $ 2,954    
Amounts outstanding 1,332    
Net availability 1,622    
DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 500    
Amounts outstanding 459    
Net availability 41    
DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 300    
Amounts outstanding 130    
Net availability 170    
DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 2,154    
Amounts outstanding 743    
Net availability 1,411    
Revolver borrowings      
Availability under combined facilities      
Amounts outstanding 79    
Revolver borrowings | DTE Electric      
Availability under combined facilities      
Amounts outstanding 0    
Revolver borrowings | DTE Gas      
Availability under combined facilities      
Amounts outstanding 0    
Revolver borrowings | DTE Energy      
Availability under combined facilities      
Amounts outstanding 79    
Commercial paper issuances      
Availability under combined facilities      
Amounts outstanding 915    
Commercial paper issuances | DTE Electric      
Availability under combined facilities      
Amounts outstanding 459    
Commercial paper issuances | DTE Gas      
Availability under combined facilities      
Amounts outstanding 130    
Commercial paper issuances | DTE Energy      
Availability under combined facilities      
Amounts outstanding 326    
Letters of credit      
Availability under combined facilities      
Amounts outstanding 338    
Letters of credit | DTE Electric      
Availability under combined facilities      
Amounts outstanding 0    
Letters of credit | DTE Gas      
Availability under combined facilities      
Amounts outstanding 0    
Letters of credit | DTE Energy      
Availability under combined facilities      
Amounts outstanding 338    
Unsecured revolving credit facility, expiring April 2026 | Revolver borrowings      
Availability under combined facilities      
Maximum borrowing capacity 2,300    
Unsecured revolving credit facility, expiring April 2026 | Revolver borrowings | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 500    
Unsecured revolving credit facility, expiring April 2026 | Revolver borrowings | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 300    
Unsecured revolving credit facility, expiring April 2026 | Revolver borrowings | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 1,500    
Unsecured Canadian revolving credit facility, expiring May 2023 | Revolver borrowings      
Availability under combined facilities      
Maximum borrowing capacity 79    
Unsecured Canadian revolving credit facility, expiring May 2023 | Revolver borrowings | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured Canadian revolving credit facility, expiring May 2023 | Revolver borrowings | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured Canadian revolving credit facility, expiring May 2023 | Revolver borrowings | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 79    
Unsecured letter of credit facility, expiring February 2023 | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 150    
Unsecured letter of credit facility, expiring February 2023 | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring February 2023 | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring February 2023 | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 150    
Unsecured letter of credit facility, expiring June 2023 | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 375    
Unsecured letter of credit facility, expiring June 2023 | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring June 2023 | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring June 2023 | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 375 $ 375 $ 70
Unsecured letter of credit facility | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 50    
Unsecured letter of credit facility | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity $ 50    
v3.22.2.2
Leases (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Leases [Abstract]          
Additional net investment in finance leases $ 64 $ 33      
Finance lease extension term 5 years     5 years  
Interest income recognized under finance leases $ 6   $ 4 $ 17 $ 13
v3.22.2.2
Leases (Components of Net Investment in Finance Leases) (Details)
$ in Millions
Sep. 30, 2022
USD ($)
Leases [Abstract]  
2022 $ 9
2023 34
2024 34
2025 34
2026 33
2027 and Thereafter 451
Total minimum future lease receipts 595
Residual value of leased pipeline 17
Less unearned income 321
Net investment in finance lease 291
Less current portion 7
Net investment in finance lease, noncurrent $ 284
v3.22.2.2
Leases (Lease Income Associated with Operating Leases) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Lessor, Lease, Description [Line Items]        
Fixed payments $ 3 $ 13 $ 11 $ 42
Variable payments 21 55 52 90
Total lease income under operating leases 24 68 63 132
Operating revenues        
Lessor, Lease, Description [Line Items]        
Total lease income under operating leases 24 26 63 70
Other income        
Lessor, Lease, Description [Line Items]        
Total lease income under operating leases $ 0 $ 42 $ 0 $ 62
v3.22.2.2
Commitments and Contingencies (Details Textuals)
 1 Months Ended 9 Months Ended
Jun. 30, 2022
USD ($)
Sep. 30, 2022
USD ($)
employee
site
facility
Dec. 31, 2021
USD ($)
Loss Contingencies [Line Items]      
Estimated capital expenditures for current fiscal year   $ 3,500,000,000  
Workforce subject to collective bargaining arrangements | Labor force concentration risk      
Loss Contingencies [Line Items]      
Number of employees | employee   5,200  
Percentage of total employees   50.00%  
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year | Labor force concentration risk      
Loss Contingencies [Line Items]      
Percentage of total employees   4.00%  
Reduced emissions fuel guarantees      
Loss Contingencies [Line Items]      
Number of days after expiration of statutes of limitations   90 days  
Maximum potential liability   $ 605,000,000  
Other guarantees      
Loss Contingencies [Line Items]      
Maximum potential liability   40,000,000  
Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   384,000,000  
Performance surety bonds | Energy Trading      
Loss Contingencies [Line Items]      
Performance bonds outstanding   $ 250,000,000  
Performance surety bonds | Minimum | Energy Trading      
Loss Contingencies [Line Items]      
Performance bonds term   1 year  
Performance surety bonds | Maximum | Energy Trading      
Loss Contingencies [Line Items]      
Performance bonds term   3 years  
DTE Electric      
Loss Contingencies [Line Items]      
Environmental capital expenditures   $ 2,400,000,000  
Estimated environmental capital expenditures   $ 0  
Number of former MGP sites | site   3  
Accrued for remediation   $ 10,000,000 $ 14,000,000
Number of permitted engineered ash storage facilities owned | facility   3  
Estimated capital expenditures for current fiscal year   $ 2,600,000,000  
DTE Electric | Ludington Plant Contract Dispute | Pending litigation      
Loss Contingencies [Line Items]      
Damages sought, percentage liable 49.00%    
DTE Electric | Workforce subject to collective bargaining arrangements | Labor force concentration risk      
Loss Contingencies [Line Items]      
Number of employees | employee   2,600  
Percentage of total employees   56.00%  
DTE Electric | Workforce Subject to Collective Bargaining Arrangements Expiring within One Year | Labor force concentration risk      
Loss Contingencies [Line Items]      
Percentage of total employees   4.00%  
DTE Electric | Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   $ 119,000,000  
DTE Electric | Coal Combustion Residual And Effluent Limitations Guidelines Rules      
Loss Contingencies [Line Items]      
Estimated impact of the CCR and ELG rules   560,000,000  
Estimated impact of the CCR and ELG rules through 2026   $ 455,000,000  
DTE Gas      
Loss Contingencies [Line Items]      
Number of former MGP sites | site   14  
Accrued for remediation   $ 23,000,000 $ 24,000,000
Amortization period (in years)   10 years  
DTE Gas | Clean up completed and site closed      
Loss Contingencies [Line Items]      
Number of former MGP sites | site   8  
DTE Gas | Partial closure complete      
Loss Contingencies [Line Items]      
Number of former MGP sites | site   4  
TAES and Toshiba Corporation | Ludington Plant Contract Dispute | DTE Electric and Consumers | Pending litigation      
Loss Contingencies [Line Items]      
Damages sought $ 15,000,000    
v3.22.2.2
Retirement Benefits and Trusteed Assets (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Pension Benefits        
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 25 $ 27 $ 72 $ 81
Interest cost 41 39 124 118
Expected return on plan assets (87) (84) (260) (254)
Amortization of net actuarial loss 29 49 86 147
Amortization of prior service credit 0 0 0 0
Net periodic benefit cost (credit) 8 31 22 92
Other Postretirement Benefits        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 6 8 20 23
Interest cost 12 12 36 35
Expected return on plan assets (32) (33) (95) (97)
Amortization of net actuarial loss 1 3 3 10
Amortization of prior service credit (4) (5) (14) (15)
Net periodic benefit cost (credit) (17) (15) (50) (44)
Other Postretirement Benefits | DTE Electric        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 5 6 15 17
Interest cost 10 8 28 25
Expected return on plan assets (22) (22) (64) (65)
Amortization of net actuarial loss 2 3 4 9
Amortization of prior service credit (4) (3) (10) (10)
Net periodic benefit cost (credit) $ (9) $ (8) $ (27) $ (24)
v3.22.2.2
Retirement Benefits and Trusteed Assets (Details Textuals) - USD ($)
 3 Months Ended 9 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Pension plans | Qualified Plan          
Defined Benefit Plan Disclosure [Line Items]          
Anticipated contributions, current fiscal year   $ 0   $ 0  
Postretirement benefit plans          
Defined Benefit Plan Disclosure [Line Items]          
Anticipated contributions, current fiscal year   0   0  
DTE Electric | Pension plans          
Defined Benefit Plan Disclosure [Line Items]          
Pension cost   $ 9,000,000 $ 26,000,000 $ 27,000,000 $ 78,000,000
DTE Electric | Pension plans | Qualified Plan | Maximum | Forecast          
Defined Benefit Plan Disclosure [Line Items]          
Pension funds transferred to (from) plan $ 50,000,000        
DTE Gas | Pension plans | Qualified Plan | Maximum | Forecast          
Defined Benefit Plan Disclosure [Line Items]          
Pension funds transferred to (from) plan $ (50,000,000)        
v3.22.2.2
Segment and Related Information (Details Textuals)
customer in Millions
Sep. 30, 2022
customer
Segment Reporting [Abstract]  
Number of electric utility customers 2.3
Number of gas utility customers 1.3
v3.22.2.2
Segment and Related Information (Financial Data - Inter-segment Billing) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting Information [Line Items]        
Operating Revenues $ (5,251) $ (3,715) $ (14,752) $ (10,317)
Electric        
Segment Reporting Information [Line Items]        
Operating Revenues (1,847) (1,702) (4,907) (4,477)
Gas        
Segment Reporting Information [Line Items]        
Operating Revenues (230) (193) (1,358) (1,070)
DTE Vantage        
Segment Reporting Information [Line Items]        
Operating Revenues (227) (372) (626) (1,132)
Energy Trading        
Segment Reporting Information [Line Items]        
Operating Revenues (3,024) (1,602) (8,059) (4,208)
Reconciliation and Eliminations        
Segment Reporting Information [Line Items]        
Operating Revenues 77 155 198 558
Reconciliation and Eliminations | Electric        
Segment Reporting Information [Line Items]        
Operating Revenues 19 17 53 48
Reconciliation and Eliminations | Gas        
Segment Reporting Information [Line Items]        
Operating Revenues 4 3 10 10
Reconciliation and Eliminations | DTE Vantage        
Segment Reporting Information [Line Items]        
Operating Revenues 15 125 57 463
Reconciliation and Eliminations | Energy Trading        
Segment Reporting Information [Line Items]        
Operating Revenues 39 9 78 35
Reconciliation and Eliminations | Corporate and Other        
Segment Reporting Information [Line Items]        
Operating Revenues $ 0 $ 1 $ 0 $ 2
v3.22.2.2
Segment and Related Information (Financial Data - Operating Revenues including Inter-segment Revenues) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations $ 2,053 $ 1,875 $ 6,196 $ 5,483
Operating Revenues — Non-utility operations 3,198 1,840 8,556 4,834
Operating Revenues 5,251 3,715 14,752 10,317
Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations (77) (155) (198) (572)
Operating Revenues (77) (155) (198) (558)
Electric        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues 1,847 1,702 4,907 4,477
Electric | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations 1,844 1,700 4,896 4,468
Operating Revenues — Non-utility operations 3 2 11 9
Electric | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (19) (17) (53) (48)
Gas        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues 230 193 1,358 1,070
Gas | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations 230 193 1,358 1,070
Gas | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (4) (3) (10) (10)
DTE Vantage        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues 227 372 626 1,132
DTE Vantage | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 227 372 626 1,132
DTE Vantage | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (15) (125) (57) (463)
Energy Trading        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues 3,024 1,602 8,059 4,208
Energy Trading | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 3,024 1,602 8,059 4,208
Energy Trading | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (39) (9) (78) (35)
Corporate and Other | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 0 1 0 2
Corporate and Other | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues $ 0 $ (1) $ 0 (2)
Gas Storage and Pipelines | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations       $ 14
v3.22.2.2
Segment and Related Information (Financial Data - Net Income (Loss) Attributable to DTE Energy by Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) attributable to DTE Energy — continuing operations $ 387 $ 58 $ 818 $ 495
Net Income Attributable to DTE Energy Company — discontinued operations 0 (33) 0 106
Net Income Attributable to DTE Energy Company/DTE Electric Company 387 25 818 601
Electric        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) attributable to DTE Energy — continuing operations 363 342 750 788
Gas        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) attributable to DTE Energy — continuing operations (23) (30) 179 146
DTE Vantage        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) attributable to DTE Energy — continuing operations 26 73 68 115
Energy Trading        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) attributable to DTE Energy — continuing operations 56 (52) (80) (173)
Corporate and Other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) attributable to DTE Energy — continuing operations $ (35) $ (275) $ (99) $ (381)