Document and Entity Information
Document and Entity Information Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 31, 2018 | Jun. 30, 2017 | |
Entity Information [Line Items] | |||
Entity Registrant Name | DTE ENERGY CO | ||
Entity Central Index Key | 936,340 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 179,385,962 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 18,700,000,000 | ||
DTE Electric | |||
Entity Information [Line Items] | |||
Entity Registrant Name | DTE ELECTRIC CO | ||
Entity Central Index Key | 28,385 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 138,632,324 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Revenues | |||
Utility operations | $ 6,434 | $ 6,497 | $ 6,238 |
Non-utility operations | 6,173 | 4,133 | 4,099 |
Operating Revenues | 12,607 | 10,630 | 10,337 |
Operating Expenses | |||
Fuel, purchased power, and gas — utility | 1,881 | 1,968 | 2,081 |
Fuel, purchased power, and gas — non-utility | 5,283 | 3,562 | 3,481 |
Operation and maintenance | 2,335 | 2,302 | 2,214 |
Depreciation and amortization | 1,030 | 976 | 852 |
Taxes other than income | 391 | 370 | 364 |
Asset (gains) losses and impairments, net | (41) | (7) | (106) |
Operating Expenses | 10,961 | 9,185 | 9,098 |
Operating Income | 1,646 | 1,445 | 1,239 |
Other (Income) and Deductions | |||
Interest expense | 536 | 472 | 450 |
Interest income | (12) | (20) | (13) |
Other income | (268) | (207) | (209) |
Other expenses | 103 | 95 | 61 |
Other (Income) and Deductions | 359 | 340 | 289 |
Income Before Income Taxes | 1,287 | 1,105 | 950 |
Income Tax Expense | 175 | 271 | 230 |
Net Income | 1,112 | 834 | 720 |
Less: Net Loss Attributable to Noncontrolling Interests | (22) | (34) | (7) |
Net Income Attributable to DTE Energy Company/DTE Electric Company | $ 1,134 | $ 868 | $ 727 |
Basic Earnings per Common Share | |||
Net income attributable to DTE Energy Company (in dollars per share) | $ 6.32 | $ 4.84 | $ 4.05 |
Diluted Earnings per Common Share | |||
Net income attributable to DTE Energy Company (in dollars per share) | $ 6.32 | $ 4.83 | $ 4.05 |
Weighted Average Common Shares Outstanding | |||
Basic (in shares) | 179 | 179 | 179 |
Diluted (in shares) | 179 | 179 | 179 |
Dividends Declared per Common Share | $ 3.36 | $ 3.06 | $ 2.84 |
DTE Electric | |||
Operating Revenues | |||
Utility operations | $ 5,102 | $ 5,225 | $ 4,900 |
Operating Revenues | 5,102 | 5,225 | |
Operating Expenses | |||
Fuel and purchased power — utility | 1,454 | 1,532 | 1,574 |
Operation and maintenance | 1,428 | 1,455 | 1,342 |
Depreciation and amortization | 753 | 750 | 633 |
Taxes other than income | 302 | 284 | 277 |
Operating Expenses | 3,937 | 4,021 | 3,826 |
Operating Income | 1,165 | 1,204 | 1,074 |
Other (Income) and Deductions | |||
Interest expense | 274 | 264 | 258 |
Interest income | 0 | (8) | 0 |
Other income | (77) | (61) | (60) |
Other expenses | 40 | 34 | 40 |
Other (Income) and Deductions | 237 | 229 | 238 |
Income Before Income Taxes | 928 | 975 | 836 |
Income Tax Expense | 327 | 353 | 292 |
Net Income Attributable to DTE Energy Company/DTE Electric Company | $ 601 | $ 622 | $ 544 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Income | $ 1,112 | $ 834 | $ 720 | |
Net Income | $ 270 | 1,134 | 868 | 727 |
Other comprehensive income (loss), net of tax: | ||||
Benefit obligations, net of taxes | 10 | 11 | 13 | |
Net unrealized gains on derivatives during the period, net of taxes | 1 | 0 | 0 | |
Net unrealized gains on investments during the period, net of taxes | 1 | 1 | 1 | |
Foreign currency translation | 1 | 0 | (4) | |
Other comprehensive income | 13 | 12 | 10 | |
Comprehensive income | 1,125 | 846 | 730 | |
Less: Comprehensive loss attributable to noncontrolling interests | (22) | (34) | (7) | |
Comprehensive Income Attributable to DTE Energy Company/DTE Electric Company | 1,147 | 880 | 737 | |
DTE Electric | ||||
Net Income | 219 | 601 | 622 | 544 |
Other comprehensive income (loss), net of tax: | ||||
Transfer of benefit obligations, net of taxes | 0 | 0 | 27 | |
Net unrealized gains on investments during the period, net of taxes | 1 | 0 | 1 | |
Other comprehensive income | 1 | 0 | 28 | |
Comprehensive Income Attributable to DTE Energy Company/DTE Electric Company | $ 602 | $ 622 | $ 572 |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Tax effect on benefit obligation | $ 5 | $ 6 | $ 8 |
Tax effect, net unrealized gains on derivatives | 0 | 0 | 0 |
Tax effect on net unrealized gains (losses) on investments during the period | 1 | 1 | 0 |
DTE Electric | |||
Tax effect on transfer of benefit obligations | 18 | ||
Tax effect on net unrealized gains (losses) on investments during the period | $ 1 | $ 0 | $ 0 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | $ 66 | $ 92 |
Restricted cash | 23 | 21 |
Accounts receivable (less allowance for doubtful accounts) | ||
Customer | 1,758 | 1,522 |
Other | 98 | 71 |
Inventories | ||
Fuel and gas | 399 | 416 |
Materials and supplies | 380 | 356 |
Derivative assets | 103 | 47 |
Regulatory assets | 55 | 42 |
Other | 199 | 195 |
Total Current Assets | 3,081 | 2,762 |
Investments | ||
Nuclear decommissioning trust funds | 1,492 | 1,320 |
Investments in equity method investees | 1,073 | 752 |
Other | 232 | 201 |
Total Investments | 2,797 | 2,273 |
Property | ||
Property, plant, and equipment | 31,424 | 30,029 |
Accumulated depreciation and amortization | (10,703) | (10,299) |
Property, plant and equipment, net | 20,721 | 19,730 |
Other Assets | ||
Goodwill | 2,293 | 2,286 |
Regulatory assets | 3,723 | 3,871 |
Intangible assets | 867 | 842 |
Notes receivable | 73 | 73 |
Derivative assets | 51 | 34 |
Other | 161 | 170 |
Total Other Assets | 7,168 | 7,276 |
Total Assets | 33,767 | 32,041 |
Current Liabilities | ||
Accounts payable | 1,171 | 1,079 |
Accounts payable | ||
Accrued interest | 111 | 96 |
Dividends payable | 158 | 148 |
Short-term borrowings | 621 | 499 |
Current portion long-term debt, including capital leases | 109 | 14 |
Derivative liabilities | 99 | 69 |
Regulatory liabilities | 18 | 34 |
Short-term borrowings | ||
Other | 525 | 498 |
Total Current Liabilities | 2,812 | 2,437 |
Long-Term Debt (net of current portion) | ||
Mortgage bonds, notes, and other | 11,039 | 10,506 |
Junior subordinated debentures | 1,145 | 756 |
Capital lease obligations | 1 | 7 |
Total Long-Term Debt (net of current portion) | 12,185 | 11,269 |
Other Liabilities | ||
Deferred income taxes | 1,888 | 4,162 |
Regulatory liabilities | 2,875 | 555 |
Asset retirement obligations | 2,320 | 2,197 |
Unamortized investment tax credit | 122 | 93 |
Derivative liabilities | 47 | 98 |
Accrued pension liability | 924 | 1,152 |
Accrued postretirement liability | 61 | 36 |
Nuclear decommissioning | 220 | 194 |
Other | 323 | 349 |
Total Other Liabilities | 8,780 | 8,836 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 3,989 | 4,030 |
Retained earnings | 5,643 | 5,114 |
Accumulated other comprehensive (loss) income | (120) | (133) |
Total DTE Energy Company/DTE Electric Company Equity | 9,512 | 9,011 |
Noncontrolling interests | 478 | 488 |
Total Equity | 9,990 | 9,499 |
Total Liabilities and Equity | 33,767 | 32,041 |
DTE Electric | ||
Current Assets | ||
Cash and cash equivalents | 15 | 13 |
Accounts receivable (less allowance for doubtful accounts) | ||
Customer | 791 | 728 |
Affiliates | 20 | 12 |
Other | 37 | 29 |
Inventories | ||
Fuel and gas | 190 | 225 |
Materials and supplies | 275 | 271 |
Regulatory assets | 50 | 36 |
Other | 68 | 63 |
Total Current Assets | 1,446 | 1,377 |
Investments | ||
Nuclear decommissioning trust funds | 1,492 | 1,320 |
Other | 36 | 36 |
Total Investments | 1,528 | 1,356 |
Property | ||
Property, plant, and equipment | 22,972 | 22,094 |
Accumulated depreciation and amortization | (7,984) | (7,721) |
Property, plant and equipment, net | 14,988 | 14,373 |
Other Assets | ||
Regulatory assets | 3,005 | 3,113 |
Intangible assets | 25 | 31 |
Prepaid postretirement costs — affiliates | 113 | 114 |
Other | 123 | 125 |
Total Other Assets | 3,266 | 3,383 |
Total Assets | 21,228 | 20,489 |
Accounts payable | ||
Affiliates | 52 | 58 |
Other | 416 | 452 |
Accrued interest | 72 | 65 |
Current portion long-term debt, including capital leases | 5 | 6 |
Regulatory liabilities | 17 | 27 |
Short-term borrowings | ||
Affiliates | 116 | 117 |
Other | 238 | 62 |
Other | 145 | 146 |
Total Current Liabilities | 1,061 | 933 |
Long-Term Debt (net of current portion) | ||
Mortgage bonds, notes, and other | 6,017 | 5,878 |
Capital lease obligations | 1 | 7 |
Total Long-Term Debt (net of current portion) | 6,018 | 5,885 |
Other Liabilities | ||
Deferred income taxes | 2,088 | 3,793 |
Regulatory liabilities | 2,137 | 229 |
Asset retirement obligations | 2,125 | 2,012 |
Unamortized investment tax credit | 120 | 90 |
Nuclear decommissioning | 220 | 194 |
Accrued pension liability — affiliates | 811 | 1,008 |
Accrued postretirement liability — affiliates | 311 | 269 |
Other | 72 | 81 |
Total Other Liabilities | 7,884 | 7,676 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 4,306 | 4,206 |
Retained earnings | 1,956 | 1,787 |
Accumulated other comprehensive (loss) income | 3 | 2 |
Total DTE Energy Company/DTE Electric Company Equity | 6,265 | 5,995 |
Total Liabilities and Equity | $ 21,228 | $ 20,489 |
Consolidated Statements of Fin6
Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Allowance for doubtful accounts | $ 49 | $ 41 |
Stockholders' Equity: | ||
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in shares) | 179,386,967 | 179,432,581 |
Common stock, shares outstanding (in shares) | 179,386,967 | 179,432,581 |
DTE Electric | ||
Current Assets: | ||
Allowance for doubtful accounts | $ 31 | $ 25 |
Stockholders' Equity: | ||
Common stock, 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) | 138,632,234 | 138,632,324 |
Common stock, shares outstanding (in shares) | 138,632,234 | 138,632,324 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Activities | |||
Net Income | $ 1,112 | $ 834 | $ 720 |
Net Income | 1,134 | 868 | 727 |
Adjustments to reconcile Net Income to Net cash from operating activities: | |||
Depreciation and amortization | 1,030 | 976 | 852 |
Nuclear fuel amortization | 53 | 58 | 46 |
Allowance for equity funds used during construction | (23) | (21) | (21) |
Deferred income taxes | 196 | 265 | 237 |
Equity earnings of equity method investees | (102) | (68) | (66) |
Dividends from equity method investees | 74 | 68 | 64 |
Asset (gains) losses and impairments, net | 38 | 8 | 107 |
Changes in assets and liabilities: | |||
Accounts receivable, net | (252) | (226) | 259 |
Inventories | (4) | 37 | 1 |
Accounts payable | 129 | 145 | (158) |
Accrued pension liability | (228) | 19 | (147) |
Accrued postretirement liability | 25 | (192) | (287) |
Derivative assets and liabilities | (94) | 126 | 47 |
Regulatory assets and liabilities | 217 | (40) | 85 |
Other current and noncurrent assets and liabilities | (54) | 95 | 177 |
Net cash from operating activities | 2,117 | 2,084 | 1,916 |
Investing Activities | |||
Plant and equipment expenditures — utility | (2,037) | (1,898) | (1,817) |
Plant and equipment expenditures — non-utility | (213) | (147) | (203) |
Acquisition, net of cash acquired | 0 | (1,147) | (241) |
Restricted cash for debt redemption, principally Securitization, net | (2) | 1 | 97 |
Proceeds from sale of nuclear decommissioning trust fund assets | 1,240 | 1,457 | 885 |
Investment in nuclear decommissioning trust funds | (1,226) | (1,463) | (898) |
Distributions from equity method investees | 10 | 11 | 19 |
Contributions to equity method investees | (299) | (239) | (98) |
Other | (37) | 37 | 52 |
Net cash used for investing activities | (2,564) | (3,388) | (2,204) |
Financing Activities | |||
Issuance of long-term debt, net of issuance costs | 1,398 | 2,035 | 956 |
Redemption of long-term debt | (385) | (807) | (286) |
Repurchase of long-term debt | 0 | (59) | 0 |
Issuance of equity units, net of issuance costs | 0 | 654 | 0 |
Short-term borrowings, net | 122 | 0 | 101 |
Repurchase of common stock | (51) | (33) | 0 |
Dividends on common stock | (592) | (531) | (501) |
Contributions from noncontrolling interests | 50 | 114 | 23 |
Distributions to noncontrolling interests | (40) | (5) | (8) |
Other | (81) | (9) | (8) |
Net cash from (used for) financing activities | 421 | 1,359 | 277 |
Net Increase (Decrease) in Cash and Cash Equivalents | (26) | 55 | (11) |
Cash and Cash Equivalents at Beginning of Period | 92 | 37 | 48 |
Cash and Cash Equivalents at End of Period | 66 | 92 | 37 |
Supplemental disclosure of cash information | |||
Cash paid (received) for: Interest, net of interest capitalized | 495 | 448 | 428 |
Cash paid (received) for: Income taxes | 4 | (1) | 14 |
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] | |||
Plant and equipment expenditures in accounts payable | 295 | 312 | 207 |
Premium on equity units | 0 | 98 | 0 |
DTE Electric | |||
Operating Activities | |||
Net Income | 601 | 622 | 544 |
Adjustments to reconcile Net Income to Net cash from operating activities: | |||
Depreciation and amortization | 753 | 750 | 633 |
Nuclear fuel amortization | 53 | 58 | 46 |
Allowance for equity funds used during construction | (18) | (18) | (20) |
Deferred income taxes | 345 | 342 | 320 |
Equity earnings of equity method investees | (1) | (2) | (2) |
Changes in assets and liabilities: | |||
Accounts receivable, net | (80) | (64) | 33 |
Inventories | 31 | 26 | (22) |
Prepaid postretirement benefit costs — affiliates | 1 | (90) | (24) |
Accounts payable | (2) | 59 | (46) |
Accrued pension liability — affiliates | (197) | 32 | (224) |
Accrued postretirement liability — affiliates | 42 | (38) | (213) |
Regulatory assets and liabilities | 202 | 10 | 65 |
Other current and noncurrent assets and liabilities | (147) | (34) | 58 |
Net cash from operating activities | 1,584 | 1,655 | 1,150 |
Investing Activities | |||
Plant and equipment expenditures | (1,574) | (1,503) | (1,545) |
Acquisitions | 0 | 0 | (310) |
Restricted cash for debt redemption, principally Securitization, net | 0 | 0 | 96 |
Proceeds from sale of nuclear decommissioning trust fund assets | 1,240 | 1,457 | 885 |
Investment in nuclear decommissioning trust funds | (1,226) | (1,463) | (898) |
Transfer of Rabbi Trust assets to affiliate | 0 | 0 | 137 |
Other | 18 | 36 | 14 |
Net cash used for investing activities | (1,542) | (1,473) | (1,621) |
Financing Activities | |||
Issuance of long-term debt, net of issuance costs | 435 | 355 | 495 |
Redemption of long-term debt | (300) | (10) | (135) |
Repurchase of long-term debt | 0 | (59) | 0 |
Capital contribution by parent company | 100 | 120 | 300 |
Short-term borrowings, net — affiliate | (1) | 41 | (8) |
Short-term borrowings, net — other | 176 | (210) | 222 |
Dividends on common stock | (432) | (420) | (395) |
Other | (18) | (1) | (7) |
Net cash from (used for) financing activities | (40) | (184) | 472 |
Net Increase (Decrease) in Cash and Cash Equivalents | 2 | (2) | 1 |
Cash and Cash Equivalents at Beginning of Period | 13 | 15 | 14 |
Cash and Cash Equivalents at End of Period | 15 | 13 | 15 |
Supplemental disclosure of cash information | |||
Cash paid (received) for: Interest, net of interest capitalized | 252 | 252 | 244 |
Cash paid (received) for: Income taxes | (16) | 6 | (53) |
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] | |||
Plant and equipment expenditures in accounts payable | $ 191 | $ 232 | $ 150 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Millions | Total | Common Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interests | DTE Electric | DTE ElectricCommon Stock | DTE ElectricAdditional Paid-in Capital | DTE ElectricRetained Earnings | DTE ElectricAccumulated Other Comprehensive Income (Loss) |
Beginning balance (in shares) at Dec. 31, 2014 | 176,991,000 | 138,632,000 | ||||||||
Beginning balance at Dec. 31, 2014 | $ 8,342 | $ 3,904 | $ 4,578 | $ (155) | $ 15 | |||||
Beginning balance at Dec. 31, 2014 | $ 5,196 | $ 1,386 | $ 2,400 | $ 1,436 | $ (26) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net Income (Loss) | 720 | 727 | (7) | |||||||
Net Income | 727 | 544 | 544 | |||||||
Dividends declared on common stock | (510) | (510) | (395) | (395) | ||||||
Transfer of benefit obligations, net of tax | 27 | 27 | ||||||||
Issuance of common stock (in shares) | 105,000 | |||||||||
Issuance of common stock | 9 | $ 9 | ||||||||
Contribution of common stock to pension plan/VEBA Trust (in shares) | 1,428,000 | |||||||||
Contribution of common stock to pension plan/VEBA Trust | 117 | $ 117 | ||||||||
Benefit obligations, net of tax | 13 | 13 | ||||||||
Net change in unrealized gains on derivatives, net of tax | 0 | |||||||||
Net change in unrealized gains on investments, net of tax | 1 | 1 | 1 | 1 | ||||||
Capital contribution by parent company | 300 | 300 | ||||||||
Foreign currency translation | (4) | (4) | ||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other (in shares) | 946,000 | |||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other | 107 | $ 93 | (1) | 15 | ||||||
Ending balance (in shares) at Dec. 31, 2015 | 179,470,000 | 138,632,000 | ||||||||
Ending balance at Dec. 31, 2015 | 8,795 | $ 4,123 | 4,794 | (145) | 23 | |||||
Ending balance at Dec. 31, 2015 | 5,673 | $ 1,386 | 2,700 | 1,585 | 2 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Implementation of ASU 2016-09 | 3 | 3 | ||||||||
Net Income (Loss) | 834 | 868 | (34) | |||||||
Net Income | 868 | 622 | 622 | |||||||
Dividends declared on common stock | (548) | (548) | (420) | (420) | ||||||
Transfer of benefit obligations, net of tax | 0 | |||||||||
Repurchase of common stock (in shares) | (394,000) | |||||||||
Repurchase of common stock | (33) | $ (33) | ||||||||
Premium on equity units | (98) | (98) | ||||||||
Issuance costs of equity units | (18) | $ (18) | ||||||||
Acquisition of SGG | 390 | 390 | ||||||||
Benefit obligations, net of tax | 11 | 11 | ||||||||
Net change in unrealized gains on derivatives, net of tax | 0 | |||||||||
Net change in unrealized gains on investments, net of tax | 1 | 1 | 0 | |||||||
Capital contribution by parent company | $ 120 | 120 | ||||||||
Foreign currency translation | 0 | |||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other (in shares) | 357,000 | |||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other | $ 162 | $ 56 | (3) | 109 | ||||||
Ending balance (in shares) at Dec. 31, 2016 | 179,432,581 | 179,433,000 | 138,632,324 | 138,632,000 | ||||||
Ending balance at Dec. 31, 2016 | $ 9,499 | $ 4,030 | 5,114 | (133) | 488 | |||||
Ending balance at Dec. 31, 2016 | 9,011 | $ 5,995 | $ 1,386 | 2,820 | 1,787 | 2 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net Income (Loss) | 1,112 | 1,134 | (22) | |||||||
Net Income | 1,134 | 601 | 601 | |||||||
Dividends declared on common stock | (602) | (602) | (432) | (432) | ||||||
Transfer of benefit obligations, net of tax | 0 | |||||||||
Repurchase of common stock (in shares) | (524,000) | |||||||||
Repurchase of common stock | (51) | $ (51) | ||||||||
Benefit obligations, net of tax | 10 | 10 | ||||||||
Net change in unrealized gains on derivatives, net of tax | 1 | 1 | ||||||||
Net change in unrealized gains on investments, net of tax | 1 | 1 | 1 | 1 | ||||||
Capital contribution by parent company | $ 100 | 100 | ||||||||
Foreign currency translation | 1 | 1 | ||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other (in shares) | 478,000 | |||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other | $ 19 | $ 10 | (3) | 12 | ||||||
Ending balance (in shares) at Dec. 31, 2017 | 179,386,967 | 179,387,000 | 138,632,234 | 138,632,000 | ||||||
Ending balance at Dec. 31, 2017 | $ 9,990 | $ 3,989 | $ 5,643 | $ (120) | $ 478 | |||||
Ending balance at Dec. 31, 2017 | $ 9,512 | $ 6,265 | $ 1,386 | $ 2,920 | $ 1,956 | $ 3 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2017 | |
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 2.2 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 involved in 1) natural gas pipelines, gathering, and storage; 2) power and industrial projects; and 3) 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, the MDEQ, and for DTE Energy, the CFTC. Basis of Presentation 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 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. 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 cost method is used. 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 DTE Energy's Power and Industrial Projects 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 accounted for under the equity method. DTE Energy owns a 55% interest in SGG, which owns and operates midstream natural gas assets. SGG has contracts through which certain construction risk is designed to pass-through to the customers, with DTE Energy retaining operational and customer default risk. SGG is a VIE with DTE Energy as the primary beneficiary. See Note 4 to the Consolidated Financial Statements, " Acquisitions and Exit Activities ," for more information. The Registrants hold variable interests in NEXUS, including a 50% ownership interest. NEXUS is a joint venture which is in the process of constructing a 255-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers. NEXUS is a VIE as it has insufficient equity at risk to finance its activities. The Registrants are not the primary beneficiaries, as the power to direct significant activities is shared between the owners of the equity interests. DTE Energy accounts for NEXUS 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, as well as, 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 December 31, 2017 , 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 December 31, 2017 , 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 significant 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 significant potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts. The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position and in Note 18 to the Consolidated Financial Statements, " Commitments and Contingencies ," related to the REF guarantees and indemnities. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, future funding commitments, and amounts which DTE Energy has guaranteed. See Note 18 to the Consolidated Financial Statements, " Commitments and Contingencies ," for further discussion of the NEXUS guarantee arrangements. The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of December 31, 2017 and 2016 . 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. December 31, 2017 December 31, 2016 SGG (a) Other Total SGG (a) Other Total (In millions) ASSETS Cash and cash equivalents $ 23 $ 14 $ 37 $ 36 $ 27 $ 63 Restricted cash — 8 8 — 7 7 Accounts receivable 11 42 53 8 34 42 Inventories 3 114 117 3 112 115 Property, plant, and equipment, net 400 75 475 398 76 474 Goodwill 25 — 25 17 — 17 Intangible assets 572 — 572 586 — 586 Other current and long-term assets 4 — 4 1 1 2 $ 1,038 $ 253 $ 1,291 $ 1,049 $ 257 $ 1,306 LIABILITIES Accounts payable and accrued current liabilities $ 26 $ 47 $ 73 $ 19 $ 32 $ 51 Current portion long-term debt, including capital leases — 4 4 — 5 5 Mortgage bonds, notes, and other — 1 1 — 5 5 Other current and long-term liabilities 1 16 17 2 15 17 $ 27 $ 68 $ 95 $ 21 $ 57 $ 78 _____________________________________ (a) Amounts shown are 100% of SGG's assets and liabilities, of which DTE Energy owns 55% . Amounts for DTE Energy's non-consolidated VIEs are as follows: December 31, 2017 December 31, 2016 (In millions) Investments in equity method investees $ 811 $ 509 Notes receivable $ 17 $ 15 Future funding commitments $ 598 $ 692 Equity Method Investments Investments in non-consolidated affiliates that are not controlled by the Registrants, but over which they have significant influence, are accounted for using the equity method. Certain of the equity method investees are also considered VIEs and disclosed in the non-consolidated VIEs table above. At December 31, 2017 and 2016 , DTE Energy's share of the underlying equity in the net assets of the investees exceeded the carrying amounts of Investments in equity method investees by $72 million and $73 million , respectively. The difference is being amortized over the life of the underlying assets. DTE Energy equity method investees are described below: Investments % Owned Segment 2017 2016 2017 2016 Description (In millions) Significant Equity Method Investees Gas Storage and Pipelines NEXUS Pipeline $ 640 $ 322 50% 50% A 255-mile pipeline under construction to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers Vector Pipeline 115 100 40% 40% 348-mile pipeline connecting Chicago, Michigan, and Ontario market centers Millennium Pipeline 124 116 26% 26% 251-mile pipeline serving markets in the Northeast 879 538 Other Equity Method Investees Other Segments 194 214 $ 1,073 $ 752 The balances in Other Equity Method Investees are individually insignificant and are primarily from the Power and Industrial Projects segment. These investments are comprised of projects that deliver energy and utility-type products and services to an industrial customer, sell electricity from renewable energy projects under long-term power purchase agreements, and produce and sell metallurgical coke. For further information by segment, see Note 22 to the Consolidated Financial Statements, " Segment and Related Information ." |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES Revenues The Registrants' revenues from the sale and delivery of electricity, and DTE Energy's revenues from the sale, delivery, and storage of natural gas are recognized as services are provided. DTE Electric and DTE Gas record revenues for electricity and gas provided but unbilled at the end of each month. Rates for DTE Electric and DTE Gas include provisions to adjust billings for fluctuations in fuel and purchased power costs, cost of natural gas, and certain other costs. Revenues are adjusted for differences between actual costs subject to reconciliation and the amounts billed in current rates. Under or over recovered revenues related to these cost recovery mechanisms are included in Regulatory assets or liabilities on the Registrants' Consolidated Statements of Financial Position and are recovered or returned to customers through adjustments to the billing factors. For further discussion of recovery mechanisms authorized by the MPSC, see Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." DTE Energy's non-utility businesses recognize revenues as services are provided and products are delivered. For discussion of derivative contracts, see Note 13 to the Consolidated Financial Statements, " Financial and Other Derivative Instruments ." Other Income Other income for the Registrants is recognized for non-operating income such as equity earnings of equity method investees, allowance for equity funds used during construction, contract services, and gains (losses) from trading securities. DTE Energy's Power and Industrial Projects segment also recognizes Other income in connection with the sale of membership interests in reduced emissions fuel facilities to investors. In exchange for the cash received, the investors will receive a portion of the economic attributes of the facilities, including income tax attributes. The transactions are not treated as a sale of membership interests for financial reporting purposes. Other income is considered earned when refined coal is produced and tax credits are generated. The following is a summary of DTE Energy's Other income: 2017 2016 2015 (In millions) Equity earnings of equity method investees $ 102 $ 68 $ 66 Income from REF entities 77 75 83 Gains from trading securities 26 15 1 Allowance for equity funds used during construction 23 21 21 Contract services 19 21 27 Other 21 7 11 $ 268 $ 207 $ 209 The following is a summary of DTE Electric's Other income: 2017 2016 2015 (In millions) Gains from trading securities allocated from DTE Energy $ 26 $ 15 $ 1 Contract services 21 20 27 Allowance for equity funds used during construction 18 18 20 Equity earnings of equity method investees 1 2 2 Other 11 6 10 $ 77 $ 61 $ 60 For information on equity earnings of equity method investees by segment, see Note 22 to the Consolidated Financial Statements, " Segment and Related Information ." Accounting for ISO Transactions DTE Electric participates in the energy market through MISO. MISO requires that DTE Electric submit hourly day-ahead, real-time, and FTR bids and offers for energy at locations across the MISO region. DTE Electric accounts for MISO transactions on a net hourly basis in each of the day-ahead, real-time, and FTR markets and net transactions across all MISO energy market locations. In any single hour DTE Electric records net purchases in Fuel, purchased power, and gas — utility and net sales in Operating Revenues — Utility operations on the Registrants' Consolidated Statements of Operations. The Energy Trading segment participates in the energy markets through various ISOs and RTOs. These markets require that Energy Trading submits hourly day-ahead, real-time bids and offers for energy at locations across each region. Energy Trading submits bids in the annual and monthly auction revenue rights and FTR auctions to the RTOs. Energy Trading accounts for these transactions on a net hourly basis for the day-ahead, real-time, and FTR markets. These transactions are related to trading contracts which, if derivatives, are presented on a net basis in Operating Revenues — Non-utility operations, and if non-derivatives, the realized gains and losses for sales are recorded in Operating Revenues — Non-utility operations and purchases are recorded in Fuel, purchased power, and gas — non-utility in the DTE Energy Consolidated Statements of Operations. DTE Electric and Energy Trading record accruals for future net purchases adjustments based on historical experience, and reconcile accruals to actual costs when invoices are received from MISO and other ISOs and RTOs. 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 the Registrants include unrealized gains and losses on available-for-sale securities and changes in benefit obligations, consisting of deferred actuarial losses and prior service costs. The amounts recorded to Accumulated other comprehensive income (loss) relating solely to DTE Energy also include unrealized gains and losses from derivatives accounted for as cash flow hedges, DTE Energy's interest in other comprehensive income of equity investees which comprise the net unrealized gains and losses on investments, and foreign currency translation adjustments. Refer to Note 20 to the Consolidated Financial Statements, " Retirement Benefits and Trusteed Assets ," regarding the transfer of a portion of DTE Electric benefit obligations in 2015. The following table summarizes the changes in DTE Energy's Accumulated other comprehensive income (loss) by component (a) for the years ended December 31, 2017 and 2016 : Net Unrealized Gain (Loss) on Deri vatives Net Unrealized Gain (Loss) on Investments Benefit Obligations (b) Foreign Currency Translation Total (In millions) Balance, December 31, 2015 $ (4 ) $ (4 ) $ (131 ) $ (6 ) $ (145 ) Other comprehensive loss before reclassifications — — (3 ) — (3 ) Amounts reclassified from Accumulated other comprehensive income — 1 14 — 15 Net current-period Other comprehensive income — 1 11 — 12 Balance, December 31, 2016 $ (4 ) $ (3 ) $ (120 ) $ (6 ) $ (133 ) Other comprehensive income (loss) before reclassi fications — 1 (3 ) 1 (1 ) Amounts reclassified from Accumulated other comprehensive income 1 — 13 — 14 Net current-period Other comprehensive income 1 1 10 1 13 Balance, December 31, 2017 $ (3 ) $ (2 ) $ (110 ) $ (5 ) $ (120 ) ______________________________________ (a) All amounts are net of tax, except for Foreign currency translation. (b) The amounts reclassified from Accumulated other comprehensive income (loss) are included in the computation of the net periodic pension and other postretirement benefit costs (see Note 20 to the Consolidated Financial Statements " Retirement Benefits and Trusteed Assets "). 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 consists of funds held to satisfy requirements of certain debt and DTE Energy partnership operating agreements. Restricted cash designated for interest and principal payments within one year is classified as a Current Asset. Receivables Accounts receivable are primarily composed of trade receivables and unbilled revenue. The Registrants' Accounts receivable are stated at net realizable value. The allowance for doubtful accounts for DTE Electric and DTE Gas is generally calculated using the 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 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 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 DTE Energy's other businesses is calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. DTE Energy unbilled revenues of $1 billion and $814 million , including $290 million and $267 million of DTE Electric unbilled revenues, are included in Customer Accounts receivable at December 31, 2017 and 2016 , respectively. Notes Receivable Notes receivable, or financing receivables, for DTE Energy are primarily comprised of capital lease receivables and loans and are included in Notes receivable and Other current assets on DTE Energy’s Consolidated Statements of Financial Position. Notes receivable, or financing receivables, 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. Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current. 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. In addition, the Registrants monitor the credit ratings of the counterparties from which they have notes receivable. Inventories Inventory related to utility operations is generally valued at average cost. Inventory related to non-utility operations is valued at the lower of cost or net realizable value. DTE Gas' natural gas inventory of $29 million and $45 million as of December 31, 2017 and 2016 , respectively, is determined using the last-in, first-out (LIFO) method. The replacement cost of gas in inventory exceeded the LIFO cost by $81 million and $132 million at December 31, 2017 and 2016 , respectively. Property, Retirement and Maintenance, and Depreciation and Amortization Property is stated at cost and includes construction-related labor, materials, overheads, and AFUDC for utility property. The cost of utility properties retired is charged to accumulated depreciation. Expenditures for maintenance and repairs are charged to expense when incurred, except for outage-related maintenance repairs for Fermi 2. Utility property at DTE Electric and DTE Gas is depreciated over its estimated useful life using straight-line rates approved by the MPSC. DTE Energy's non-utility property is depreciated over its estimated useful life using the straight-line method. Depreciation and amortization expense also includes the amortization of certain regulatory assets for the Registrants. Approximately $15 million and $27 million of expenses related to Fermi 2 refueling outages were accrued at December 31, 2017 and 2016 , respectively. Amounts are accrued on a pro-rata basis, generally over an 18 -month period, that coincides with scheduled refueling outages at Fermi 2. This accrual of outage costs matches the regulatory recovery of these costs in rates set by the MPSC. See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." The cost of nuclear fuel is capitalized. The amortization of nuclear fuel is included within Fuel, purchased power, and gas — utility in the DTE Energy Consolidated Statements of Operations, and Fuel and purchased power in the DTE Electric Consolidated Statements of Operations, and is recorded using the units-of-production method. See Note 6 to the Consolidated Financial Statements, " Property, Plant, and Equipment ." Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds the expected undiscounted future cash flows generated by the asset, an impairment loss is recognized resulting in the asset being written down to its estimated fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. Intangible Assets The Registrants have certain Intangible assets as shown below: December 31, 2017 December 31, 2016 Useful Lives Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value (In millions) Intangible assets subject to amortization Customer relationships (a) 40 years (b) $ 770 $ (24 ) $ 746 $ 770 $ (5 ) $ 765 Contract intangibles 6 to 26 years 168 (72 ) 96 111 (65 ) 46 938 (96 ) 842 881 (70 ) 811 DTE Electric renewable energy credits (c) 24 — 24 30 — 30 DTE Electric emission allowances (c) 1 — 1 1 — 1 25 — 25 31 — 31 Long-term intangible assets DTE Electric $ 25 $ — $ 25 $ 31 $ — $ 31 DTE Energy $ 963 $ (96 ) $ 867 $ 912 $ (70 ) $ 842 ______________________________________ (a) In October 2016, DTE Energy acquired midstream natural gas assets that are part of the Gas Storage and Pipelines segment. The intangible assets recorded as a result of the acquisition pertain to existing customer relationships. See Note 4 to the Consolidated Financial Statements, " Acquisitions and Exit Activities ," for additional information. (b) The useful life of the customer relationship intangible assets is based on the number of years in which the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts and expected renewal rates based on the estimated volume and production lives of gas resources in the region. (c) Emission allowances and renewable energy credits are charged to expense, using average cost, as the allowances and credits are consumed in the operation of the business. The following table summarizes DTE Energy's estimated customer relationship and contract intangible amortization expense expected to be recognized during each year through 2022 : 2018 2019 2020 2021 2022 (In millions) Estimated amortization expense $ 26 $ 26 $ 25 $ 25 $ 25 DTE Energy amortizes customer relationship and contract intangible assets on a straight-line basis over the expected period of benefit. DTE Energy's Intangible assets amortization expense was $29 million in 2017 , $16 million in 2016 , and $11 million in 2015 . Excise and Sales Taxes The Registrants record the billing of excise and sales taxes as a receivable with an offsetting payable to the applicable taxing authority, with no net impact on the Registrants’ Consolidated Statements of Operations. Deferred Debt Costs The costs related to the issuance of long-term debt are deferred and amortized over the life of each debt issue. The deferred amounts are included as a direct deduction from the carrying amount of each debt issue in Mortgage bonds, notes, and other and Junior subordinated debentures on DTE Energy's Consolidated Statements of Financial Position and in Mortgage bonds, notes, and other on DTE Electric's Consolidated Statements of Financial Position. In accordance with MPSC regulations applicable to DTE Energy’s electric and gas utilities, the unamortized discount, premium, and expense related to utility debt redeemed with a refinancing are amortized over the life of the replacement issue. Discount, premium, and expense on early redemptions of debt associated with DTE Energy's non-utility operations are charged to earnings. Investments in Debt and Equity Securities The Registrants generally classify investments in debt and equity securities as either trading or available-for-sale and have recorded such investments at market value with unrealized gains or losses included in earnings or in Other comprehensive income or loss, respectively. Changes in the fair value of Fermi 2 nuclear decommissioning investments are recorded as adjustments to Regulatory assets or liabilities, due to a recovery mechanism from customers. The Registrants' equity investments are reviewed for impairment each reporting period. If the assessment indicates that the impairment is other than temporary, a loss is recognized resulting in the equity investment being written down to its estimated fair value. See Note 12 of the Consolidated Financial Statements, " Fair Value ." Government Grants Grants are recognized when there is reasonable assurance that the grant will be received and that any conditions associated with the grant will be met. When grants are received related to Property, plant, and equipment, the Registrants reduce the cost of the assets on their Consolidated Statements of Financial Position, resulting in lower depreciation expense over the life of the associated asset. Grants received related to expenses are reflected as a reduction of the associated expense in the period in which the expense is incurred. DTE Energy Foundation DTE Energy's charitable contributions to the DTE Energy Foundation were $43 million , $26 million , and $12 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. The DTE Energy Foundation is a non-consolidated not-for-profit private foundation, the purpose of which is to contribute to and assist charitable organizations. Other Accounting Policies See the following notes for other accounting policies impacting the Registrants’ Consolidated Financial Statements: Note Title 8 Asset Retirement Obligations 9 Regulatory Matters 10 Income Taxes 12 Fair Value 13 Financial and Other Derivative Instruments 20 Retirement Benefits and Trusteed Assets 21 Stock-Based Compensation |
New Accounting Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements | NEW ACCOUNTING PRONOUNCEMENTS Recently Issued Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), as amended . The objectives of this ASU are to improve upon revenue recognition requirements by providing a single comprehensive model to determine the measurement of revenue and timing of recognition. The core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. This ASU also requires expanded qualitative and quantitative disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. The standard is to be applied retrospectively. The Registrants will adopt the standard effective January 1, 2018 using the modified retrospective approach. The Registrants have substantially completed the assessment of the amended ASU's impact, on their Consolidated Financial Statements. The ASU will not significantly affect the Registrants' financial position or results of operations. The Registrants will continue to monitor the impact of the ASU on existing revenue recognition internal controls, policies, and procedures. Industry-related issues being vetted through the final stages of the American Institute of Certified Public Accountants' Power and Utilities Industry Task Force process, which are not expected to have a significant impact on the Registrants, will continue to be monitored. The ASU will result in additional disclosures for revenue compared to the current guidance. Accordingly, the Registrants are evaluating information that would be useful for users of the Consolidated Financial Statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), a replacement of Leases (Topic 840) . This guidance requires a lessee to account for leases as finance or operating leases, and include disclosure of key information about leasing arrangements. Both types of leases will result in the lessee recognizing a right-of-use asset and a corresponding lease liability on its balance sheet, with differing methodology for income statement recognition. For lessors, the standard modifies the classification criteria and the accounting for sales-type and direct financing leases. Entities will classify leases to determine how to recognize lease-related revenue and expense. This standard is effective for public entities for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. The Registrants do not plan to early adopt the standard. A modified retrospective approach is required for leases existing or entered into after the beginning of the earliest comparative period in the Consolidated Financial Statements, with certain practical expedients permitted. The Registrants expect an increase in assets and liabilities, as well as additional disclosures, however, they are currently assessing the impact of this ASU on their Consolidated Financial Statements. This assessment includes monitoring unresolved utility industry implementation guidance. The Registrants have conducted outreach activities across their lines of business and have begun implementation of a third-party software tool that will assist with the initial adoption and ongoing compliance. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The amendments in this update replace the incurred loss impairment methodology in current generally accepted accounting principles with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Entities will apply the new guidance as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The ASU is effective for the Registrants beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The amendments in this update require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside income from operations. The amendments in this update also allow only the service cost component to be eligible for capitalization when applicable. The standard will be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. The ASU is effective for the Registrants for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted. The Registrants will adopt the standard effective January 1, 2018. The components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits are disclosed in Note 20 to the Consolidated Financial Statements, " Retirement Benefits and Trusteed Assets ." The ASU will not have a significant impact on the Registrants' Consolidated Financial Statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJA. The amendments in this update also require entities to disclose their accounting policy for releasing income tax effects from accumulated other comprehensive income. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2018, and interim periods therein. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements. |
Acquisitions and Exit Activitie
Acquisitions and Exit Activities | 12 Months Ended |
Dec. 31, 2017 | |
Business Acquisition, Integration, Restructuring and Other Related Costs [Abstract] | |
Acquisitions and Exit Activities | ACQUISITIONS AND EXIT ACTIVITIES Gas Storage and Pipelines Acquisition Effective October 1, 2016 , DTE Energy closed on the purchase of midstream natural gas assets in support of the strategy to continue to grow and earn competitive returns for shareholders. DTE Energy purchased 100% of AGS, located in Pennsylvania and West Virginia, and 40% of SGG, located in West Virginia, from M3 Midstream. In addition, DTE Energy purchased 15% of SGG from Vega Energy Partners, resulting in 55% total ownership of SGG by DTE Energy. Consideration transferred for the entities acquired was approximately $1.2 billion paid in cash and the assumption of SGG debt of $204 million . The $204 million of debt was comprised of DTE Energy's 55% interest in SGG of $112 million and 45% related to noncontrolling interest partners of $92 million . The acquisition was financed through the issuance of Equity Units and Senior Notes. These entities are part of DTE Energy's Gas Storage and Pipelines segment which owns and manages a network of natural gas gathering, transmission, and storage facilities servicing the Midwest, Ontario, and Northeast markets. SGG has been deemed to be a VIE, and DTE Energy is the primary beneficiary. Thus, SGG's assets and liabilities are included in DTE Energy's Consolidated Statements of Financial Position. See Note 1 to the Consolidated Financial Statements, " Organization and Basis of Presentation ," for more information. DTE Energy applied purchase accounting to the acquired entities. The excess purchase price over the fair value of net assets acquired was classified as goodwill. September 30, 2017 marked the expiration of the one-year period from the acquisition to revise the fair value of assets acquired and liabilities assumed. As a result, the purchase accounting adjustments through September 30, 2017 contributed approximately $7 million of additional goodwill. The factors contributing to the recognition of goodwill were based on various strategic benefits that are expected to be realized from the AGS and SGG acquisition. The acquisition provides DTE Energy with a platform for midstream growth and access to further investment opportunities in the Appalachian basin, an additional connection to the NEXUS Pipeline which should drive incremental volumes on the NEXUS Pipeline, and a new set of producer relationships that may lead to more partnering opportunities. The goodwill is expected to be deductible for income tax purposes. The final allocation of the purchase price was based on estimated fair values of the AGS and SGG assets acquired and liabilities assumed at the date of acquisition, October 1, 2016. The components of the final purchase price allocation, inclusive of purchase accounting adjustments, are as follows: (In millions) Assets Cash $ 83 Accounts receivable 24 Inventory 6 Property, plant, and equipment, net 719 Goodwill 275 Customer relationship intangibles 770 Other current assets 1 $ 1,878 Liabilities Accounts payable $ 19 Other current liabilities 11 Long-term debt 204 Other long-term liabilities 20 $ 254 Less: Noncontrolling interest 392 Total cash consideration $ 1,232 The intangible assets recorded as a result of the acquisition pertain to existing customer relationships, which were valued at approximately $770 million as of the acquisition date. The fair value of the intangible assets acquired was estimated by applying the income approach. The income approach was based upon discounted projected future cash flows attributable to the existing contracts and agreements. The fair value measurement was based on significant unobservable inputs, including management estimates and assumptions, and thus represents a Level 3 measurement, pursuant to the applicable accounting guidance. Key estimates and inputs included revenue and expense projections and discount rates based on the risks associated with the entities. The intangible assets are amortized on a straight-line basis over a period of 40 years , which is based on the number of years the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts with a weighted-average amortization life of 10 years and expected renewal rates, based on the estimated volume and production lives of gas resources in the region. The fair value of the noncontrolling interest in the table above was derived based on the purchase price DTE Energy paid for the 55% interest in SGG. DTE Energy evaluated pre-acquisition contingencies relating to the purchase that existed as of the acquisition date. Based on the evaluation, DTE Energy determined that $30 million of certain pre-acquisition contingencies, related to repairing existing rights-of-way, were probable in nature and estimable as of the acquisition date. Accordingly, DTE Energy recorded its best estimates for these contingencies as part of purchase accounting, which are included in the Other current and long-term liabilities in the purchase price allocation table above. DTE Energy incurred $15 million of direct transaction costs for the year ended December 31, 2016. These costs were primarily related to advisory fees and included in Operation and maintenance in DTE Energy's 2016 Consolidated Statements of Operations. DTE Energy's 2016 Consolidated Statements of Operations included Operating Revenues — Non-utility operations of $39 million and Net Income of $4 million associated with the acquired entities for the three-month period following the acquisition date, excluding the $15 million transaction costs described above. The pro forma financial information was not presented for DTE Energy because the effects of the acquisition were not material to the Consolidated Statements of Operations. Exit Activities On December 17, 2015, DTE Energy announced the closure of the Shenango coke battery plant in response to a sharp downturn in the North American steel industry. The plant, which was included in the Power and Industrial Projects segment, is located in Pittsburgh, PA. As a result of the closure, DTE Energy recorded a one-time pre-tax non-cash impairment charge of $111 million . The charge included $96 million to fully impair the long-lived assets, employee severance expenses related to the workforce reduction of approximately 170 employees for $3 million , and other expenses, including write downs of inventory, of $12 million . DTE Energy's coke production has been shifted to a larger, more efficient coke battery plant in the Power and Industrial Projects segment. Production of coke from the Shenango coke battery plant ceased in January 2016. A summary of the charges in the Consolidated Statements of Operations resulting from DTE Energy's exit activities is shown below: 2015 (In millions) Fuel, purchased power, and gas — non-utility $ 5 Operation and maintenance 10 Asset (gains) losses and impairments, net 96 Total exit activity charges $ 111 As of December 31, 2017 , DTE Energy had approximately $1 million accrued related to these exit activities and expects future cash payments of this remaining balance to be made in 2018 . DTE Energy does not anticipate incurring significant additional expenses, including required environmental remediation costs, in connection with the closure. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | GOODWILL DTE Energy has goodwill resulting from business combinations. The following is the summary of change in the carrying amount of goodwill for the years ended December 31: 2017 2016 (In millions) Balance as of January 1 $ 2,286 $ 2,018 Goodwill attributable to Gas Storage and Pipelines acquisition 7 268 Balance at December 31 $ 2,293 $ 2,286 Refer to Note 4 to the Consolidated Financial Statements, " Acquisitions and Exit Activities ," for additional information related to the acquisition. |
Property, Plant, and Equipment
Property, Plant, and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant, and Equipment | PROPERTY, PLANT, AND EQUIPMENT The following is a summary of Property, plant, and equipment by classification as of December 31: 2017 2016 Property, plant, and equipment (In millions) DTE Electric Generation $ 12,166 $ 11,990 Distribution 8,637 8,134 Other 2,169 1,970 Total DTE Electric 22,972 22,094 DTE Gas Distribution 3,523 3,382 Storage 533 503 Transmission and other 1,118 925 Total DTE Gas 5,174 4,810 Non-utility and other 3,278 3,125 Total DTE Energy 31,424 30,029 Accumulated depreciation and amortization DTE Electric Generation (4,403 ) (4,364 ) Distribution (2,914 ) (2,769 ) Other (667 ) (588 ) Total DTE Electric (7,984 ) (7,721 ) DTE Gas Distribution (1,238 ) (1,198 ) Storage (159 ) (152 ) Transmission and other (384 ) (370 ) Total DTE Gas (1,781 ) (1,720 ) Non-utility and other (938 ) (858 ) Total DTE Energy (10,703 ) (10,299 ) Net DTE Energy Property, plant, and equipment $ 20,721 $ 19,730 Net DTE Electric Property, plant, and equipment $ 14,988 $ 14,373 The following is a summary of the Registrants' AFUDC and interest capitalized for the years ended December 31: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Allowance for debt funds used during construction and interest capitalized $ 13 $ 10 $ 8 $ 8 Allowance for equity funds used during construction 23 21 18 18 Total $ 36 $ 31 $ 26 $ 26 The composite depreciation rate for DTE Electric was approximately 3.6% in 2017 and 3.5% in 2016 and 2015 . The composite depreciation rate for DTE Gas was 2.7% , 2.4% , and 2.6% in 2017 , 2016 , and 2015 , respectively. The average estimated useful life for each major class of utility Property, plant, and equipment as of December 31, 2017 follows: Estimated Useful Lives in Years Utility Generation Distribution Storage DTE Electric 40 41 N/A DTE Gas N/A 50 53 The estimated useful lives for DTE Electric's Other utility assets range from 4 to 62 years, while the estimated useful lives for DTE Gas' Transmission and other utility assets range from 5 to 70 years. The estimated useful lives for major classes of DTE Energy's non-utility assets and facilities range from 3 to 83 years. The following is a summary of Depreciation and amortization expense for DTE Energy: 2017 2016 2015 (In millions) Property, plant, and equipment $ 865 $ 783 $ 740 Regulatory assets and liabilities 165 193 150 Securitized regulatory assets (a) — — (38 ) $ 1,030 $ 976 $ 852 _______________________________________ (a) Securitization surcharges ended in December 2014 with remaining over recovery refunded to customers in 2015. Securitization bonds were paid and Securitization regulatory assets amortization was completed in 2015. The $38 million credit represents the final adjustments to close out the Securitization program. The following is a summary of Depreciation and amortization expense for DTE Electric: 2017 2016 2015 (In millions) Property, plant, and equipment $ 620 $ 582 $ 545 Regulatory assets and liabilities 133 168 126 Securitized regulatory assets (a) — — (38 ) $ 753 $ 750 $ 633 _______________________________________ (a) Securitization surcharges ended in December 2014 with remaining over recovery refunded to customers in 2015. Securitization bonds were paid and Securitization regulatory assets amortization was completed in 2015. The $38 million credit represents the final adjustments to close out the Securitization program. Capitalized software costs are classified as Property, plant, and equipment and the related amortization is included in accumulated depreciation and amortization on the Registrants' Consolidated Financial Statements. The Registrants capitalize the costs associated with computer software developed or obtained for use in their businesses. The Registrants amortize capitalized software costs on a straight-line basis over the expected period of benefit, ranging from 3 to 15 years for DTE Energy and 4 to 15 years for DTE Electric. The following balances for capitalized software relate to DTE Energy: Year Ended December 31, 2017 2016 2015 (In millions) Amortization expense of capitalized software $ 101 $ 89 $ 98 Gross carrying value of capitalized software $ 890 $ 715 Accumulated amortization of capitalized software $ 500 $ 435 The following balances for capitalized software relate to DTE Electric: Year Ended December 31, 2017 2016 2015 (In millions) Amortization expense of capitalized software $ 93 $ 83 $ 80 Gross carrying value of capitalized software $ 774 $ 610 Accumulated amortization of capitalized software $ 423 $ 365 Property under capital leases for the Registrants is as follows: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Gross property under capital leases $ 44 $ 44 $ 18 $ 18 Accumulated amortization of property under capital leases $ 38 $ 32 $ 12 $ 6 |
Jointly-Owned Utility Plant
Jointly-Owned Utility Plant | 12 Months Ended |
Dec. 31, 2017 | |
Jointly Owned Utility Plant, Net Ownership Amount [Abstract] | |
Jointly-Owned Utility Plant | JOINTLY-OWNED UTILITY PLANT DTE Electric has joint ownership interest in two power plants, Belle River and Ludington Hydroelectric Pumped Storage. DTE Electric’s share of direct expenses of the jointly-owned plants are included in Fuel, purchased power, and gas — utility and Operation and maintenance expenses in the DTE Energy Consolidated Statements of Operations and Fuel and purchased power — utility and Operation and maintenance expenses in the DTE Electric Consolidated Statements of Operations. Ownership information of the two utility plants as of December 31, 2017 was as follows: Belle River Ludington Hydroelectric Pumped Storage In-service date 1984-1985 1973 Total plant capacity 1,270 MW 2,080 MW Ownership interest (a) 49% Investment in Property, plant, and equipment (in millions) $ 1,814 $ 559 Accumulated depreciation (in millions) $ 1,060 $ 188 _______________________________________ (a) DTE Electric's ownership interest is 63% in Unit No. 1, 81% of the facilities applicable to Belle River used jointly by the Belle River and St. Clair Power Plants and 75% in common facilities used at Unit No. 2. Belle River The Michigan Public Power Agency (MPPA) has an ownership interest in Belle River Unit No. 1 and other related facilities. The MPPA is entitled to 19% of the total capacity and energy of the plant and is responsible for the same percentage of the plant’s operation, maintenance, and capital improvement costs. Ludington Hydroelectric Pumped Storage Consumers Energy Company has an ownership interest in the Ludington Hydroelectric Pumped Storage Plant. Consumers Energy is entitled to 51% of the total capacity and energy of the plant and is responsible for the same percentage of the plant’s operation, maintenance, and capital improvement costs. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2017 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS DTE Electric has a legal retirement obligation for the decommissioning costs for its Fermi 1 and Fermi 2 nuclear plants, dismantlement of facilities located on leased property, and various other operations. DTE Electric has conditional retirement obligations for asbestos and PCB removal at certain of its power plants and various distribution equipment. DTE Gas has conditional retirement obligations for gas pipelines, certain service centers, compressor and gate stations. The Registrants recognize such obligations as liabilities at fair market value when they are incurred, which generally is at the time the associated assets are placed in service. Fair value is measured using expected future cash outflows discounted at the Registrants' credit-adjusted risk-free rate. For its utility operations, the Registrants recognize in the Consolidated Statements of Operations removal costs in accordance with regulatory treatment. Any differences between costs recognized related to asset retirement and those reflected in rates are recognized as either a Regulatory asset or liability on the Consolidated Statements of Financial Position. If a reasonable estimate of fair value cannot be made in the period in which the retirement obligation is incurred, such as for assets with indeterminate lives, the liability is recognized when a reasonable estimate of fair value can be made. Natural gas storage system and certain other distribution assets for DTE Gas and substations, manholes, and certain other distribution assets for DTE Electric have an indeterminate life. Therefore, no liability has been recorded for these assets. A reconciliation of the asset retirement obligations for 2017 follows: DTE Energy DTE Electric (In millions) Asset retirement obligations at December 31, 2016 $ 2,197 $ 2,012 Accretion 131 120 Liabilities incurred 2 1 Liabilities settled (6 ) (2 ) Revision in estimated cash flows (4 ) (6 ) Asset retirement obligations at December 31, 2017 $ 2,320 $ 2,125 Approximately $1.9 billion of the asset retirement obligations represent nuclear decommissioning liabilities that are funded through a surcharge to electric customers over the life of the Fermi 2 nuclear plant. The NRC has jurisdiction over the decommissioning of nuclear power plants and requires minimum decommissioning funding based upon a formula. The MPSC and FERC regulate the recovery of costs of decommissioning nuclear power plants and both require the use of external trust funds to finance the decommissioning of Fermi 2. Rates approved by the MPSC provide for the recovery of decommissioning costs of Fermi 2 and the disposal of low-level radioactive waste. DTE Electric believes the MPSC collections will be adequate to fund the estimated cost of decommissioning. The decommissioning assets, anticipated earnings thereon, and future revenues from decommissioning collections will be used to decommission Fermi 2. DTE Electric expects the liabilities to be reduced to zero at the conclusion of the decommissioning activities. If amounts remain in the trust funds for Fermi 2 following the completion of the decommissioning activities, those amounts will be disbursed based on rulings by the MPSC and FERC. A portion of the funds recovered through the Fermi 2 decommissioning surcharge and deposited in external trust accounts is designated for the removal of non-radioactive assets and returning the site to greenfield. This removal and greenfielding is not considered a legal liability. Therefore, it is not included in the asset retirement obligation, but is reflected as the Nuclear decommissioning liability. The decommissioning of Fermi 1 is funded by DTE Electric. Contributions to the Fermi 1 trust are discretionary. For additional discussion of Nuclear decommissioning trust fund assets, see Note 12 to the Consolidated Financial Statements, " Fair Value ." |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Assets and Liabilities Disclosure [Abstract] | |
Regulatory Matters | REGULATORY MATTERS Regulation DTE Electric and DTE Gas are subject to the regulatory jurisdiction of the MPSC, which issues orders pertaining to rates, recovery of certain costs, including the costs of generating facilities and regulatory assets, conditions of service, accounting, and operating-related matters. DTE Electric is also regulated by the FERC with respect to financing authorization and wholesale electric activities. Regulation results in differences in the application of generally accepted accounting principles between regulated and non-regulated businesses. The Registrants are unable to predict the outcome of the unresolved regulatory matters discussed herein. Resolution of these matters is dependent upon future MPSC orders and appeals, which may materially impact the Consolidated Financial Statements of the Registrants. Regulatory Assets and Liabilities DTE Electric and DTE Gas are required to record Regulatory assets and liabilities for certain transactions that would have been treated as revenue or expense in non-regulated businesses. Continued applicability of regulatory accounting treatment requires that rates be designed to recover specific costs of providing regulated services and be charged to and collected from customers. Future regulatory changes or changes in the competitive environment could result in the discontinuance of this accounting treatment for Regulatory assets and liabilities for some or all of the Registrants' businesses and may require the write-off of the portion of any Regulatory asset or liability that was no longer probable of recovery through regulated rates. Management believes that currently available facts support the continued use of Regulatory assets and liabilities and that all Regulatory assets and liabilities are recoverable or refundable in the current regulatory environment. The following are balances and a brief description of the Registrants' Regulatory assets and liabilities at December 31: DTE Energy DTE Electric 2017 2016 2017 2016 Assets (In millions) Recoverable pension and other postretirement costs Pension $ 2,000 $ 2,159 $ 1,502 $ 1,642 Other postretirement costs 278 286 211 207 Asset retirement obligation 569 613 569 613 Removal costs asset 299 193 299 193 Recoverable Michigan income taxes 213 231 171 187 Deferred environmental costs 75 78 — — Unamortized loss on reacquired debt 65 59 46 39 Transitional Reconciliation Mechanism 46 30 46 30 Customer360 deferred costs 45 33 45 33 Recoverable income taxes related to AFUDC equity 41 59 35 53 Other recoverable income taxes 26 57 26 57 Nuclear Performance Evaluation and Review Committee Tracker 22 — 22 — Accrued PSCR/GCR revenue 17 22 17 19 Other 82 93 66 76 3,778 3,913 3,055 3,149 Less amount included in Current Assets (55 ) (42 ) (50 ) (36 ) $ 3,723 $ 3,871 $ 3,005 $ 3,113 DTE Energy DTE Electric 2017 2016 2017 2016 Liabilities (In millions) Refundable federal income taxes $ 2,384 $ — $ 1,946 $ — Removal costs liability 265 266 — — Renewable energy 112 145 112 145 Negative other postretirement offset 80 56 67 55 Negative pension offset 21 36 — — Fermi 2 refueling outage 15 27 15 27 Refundable self-implemented rates 2 27 2 27 Other 14 32 12 2 2,893 589 2,154 256 Less amount included in Current Liabilities (18 ) (34 ) (17 ) (27 ) $ 2,875 $ 555 $ 2,137 $ 229 As noted below, certain Regulatory assets for which costs have been incurred have been included (or are expected to be included, for costs incurred subsequent to the most recently approved rate case) in DTE Electric's or DTE Gas' rate base, thereby providing a return on invested costs (except as noted). Certain other regulatory assets are not included in rate base but accrue recoverable carrying charges until surcharges to collect the assets are billed. Certain Regulatory assets do not result from cash expenditures and therefore do not represent investments included in rate base or have offsetting liabilities that reduce rate base. ASSETS • Recoverable pension and other postretirement costs — Accounting standards for pension and other postretirement benefit costs require, among other things, the recognition in Other comprehensive income of the actuarial gains or losses and the prior service costs that arise during the period but that are not immediately recognized as components of net periodic benefit costs. DTE Electric and DTE Gas record the impact of actuarial gains or losses and prior service costs as a Regulatory asset since the traditional rate setting process allows for the recovery of pension and other postretirement costs. The asset will reverse as the deferred items are amortized and recognized as components of net periodic benefit costs. (a) • Asset retirement obligation — This obligation is for Fermi 2 decommissioning costs. The asset captures the timing differences between expense recognition and current recovery in rates and will reverse over the remaining life of the related plant. (a) • Removal costs asset — Receivable for the recovery of asset removal expenditures in excess of amounts collected from customers. (a) • Recoverable Michigan income taxes — The State of Michigan enacted a corporate income tax resulting in the establishment of state deferred tax liabilities for DTE Energy's utilities. Offsetting Regulatory assets were also recorded as the impacts of the deferred tax liabilities will be reflected in rates as the related taxable temporary differences reverse and flow through current income tax expense. • Deferred environmental costs — The MPSC approved the deferral of investigation and remediation costs associated with DTE Gas' former MGP sites. Amortization of deferred costs is over a ten -year period beginning in the year after costs were incurred, with recovery (net of any insurance proceeds) through base rate filings. (a) • Unamortized loss on reacquired debt — The unamortized discount, premium, and expense related to debt redeemed with a refinancing are deferred, amortized, and recovered over the life of the replacement issue. • Transitional Reconciliation Mechanism — The MPSC approved the recovery of the deferred net incremental revenue requirement associated with the transition of PLD customers to DTE Electric's distribution system, effective July 1, 2014. Annual reconciliations will be filed and surcharges will be implemented to recover approved amounts. • Customer360 deferred costs — The MPSC approved the deferral and amortization of certain costs associated with implementing Customer360, which is an integrated software application that enables improved interface among customer service, billing, meter reading, credit and collections, device management, account management, and retail access. Amortization of deferred costs over a 15 -year amortization period began after the billing system was put into operation during the second quarter of 2017. • Recoverable income taxes related to AFUDC equity — Accounting standards for income taxes require recognition of a deferred tax liability for the equity component of AFUDC. A regulatory asset is required for the future increase in taxes payable related to the equity component of AFUDC that will be recovered from customers through future rates over the remaining life of the related plant. • Other recoverable income taxes — Income taxes receivable from DTE Electric's customers representing the difference in property-related deferred income taxes and amounts previously reflected in DTE Electric's rates. This asset will reverse over the remaining life of the related plant. • Nuclear Performance Evaluation and Review Committee Tracker — Deferral and amortization of certain costs associated with oversight and review of DTE Electric's nuclear power generation program, including safety and regulatory compliance, nuclear leadership, nuclear facilities, as well as operation and financial performance, pursuant to the MPSC authorization. The approved five -year amortization period began January 1, 2018, with recovery (net of carrying costs) through base rate filings. • Accrued PSCR/GCR revenue — Receivable for the temporary under-recovery of and carrying costs on fuel and purchased power costs incurred by DTE Electric which are recoverable through the PSCR mechanism and temporary under-recovery of and carrying costs on gas costs incurred by DTE Gas which are recoverable through the GCR mechanism. ________________________________________________ (a) Regulatory assets not earning a return or accruing carrying charges. LIABILITIES • Refundable federal income taxes — DTE Electric and DTE Gas' remeasurement of deferred taxes due to the enactment of the TCJA, which reflects the net impact of the tax rate change on cumulative temporary differences expected to reverse after the effective date of January 1, 2018. Refer to "2017 Tax Reform" section below for additional information. • Removal costs liability — The amount collected from customers for the funding of future asset removal activities. • Renewable energy — Amounts collected in rates in excess of renewable energy expenditures. • Negative other postretirement offset — DTE Electric and DTE Gas' negative other postretirement costs are not included as a reduction to their authorized rates; therefore, DTE Electric and DTE Gas are accruing a Regulatory liability to eliminate the impact on earnings of the negative other postretirement expense accrual. The Regulatory liabilities will reverse to the extent DTE Electric and DTE Gas' other postretirement expense is positive in future years. • Negative pension offset — DTE Gas' negative pension costs are not included as a reduction to its authorized rates; therefore, DTE Gas is accruing a Regulatory liability to eliminate the impact on earnings of the negative pension expense accrued. This Regulatory liability will reverse to the extent DTE Gas' pension expense is positive in future years. • Fermi 2 refueling outage — Accrued liability for refueling outage at Fermi 2 pursuant to MPSC authorization. • Refundable self-implemented rates — Amounts refundable to customers for base rates implemented from August 1, 2016 to December 31, 2016 in excess of amounts authorized in the January 2017 DTE Electric rate order from the MPSC. 2016 Electric Rate Case Filing DTE Electric filed a rate case with the MPSC on February 1, 2016 requesting an increase in base rates of $344 million based on a projected twelve-month period ending July 31, 2017. On August 1, 2016, DTE Electric self-implemented a base rate increase of $245 million . On January 31, 2017, the MPSC issued an order approving an annual revenue increase of $184 million for service rendered on or after February 7, 2017. The MPSC authorized a return on equity of 10.1% . On April 28, 2017, DTE Electric filed to refund its customers their pro-rata share of the revenue collected through the self-implementation surcharge in effect from August 1, 2016 through February 7, 2017. On September 15, 2017, the MPSC approved a settlement authorizing DTE Electric to refund its customers $38.5 million of the self-implementation surcharge during the months of October through December 2017. DTE Electric has refunded the majority of the settlement liability as of December 31, 2017 . 2017 Electric Rate Case Filing DTE Electric filed a rate case with the MPSC on April 19, 2017 requesting an increase in base rates of $231 million based on a projected twelve-month period ending October 31, 2018. The requested increase in base rates is primarily due to an increase in net plant resulting from infrastructure investments, environmental compliance, and reliability improvement projects. The rate filing also includes projected changes in sales, operation and maintenance expenses, and working capital. The rate filing also requests an increase in return on equity from 10.1% to 10.5% . To mitigate the impact to its customers resulting from ASU No. 2017-07, Compensation — Retirement Benefits (Topic 715), DTE Electric suggested regulatory accounting treatment for the pension and postretirement cost components previously included as capital overhead. If the MPSC adopts DTE Electric's suggestion, the rate request will be reduced. For further discussion of ASU No. 2017-07, see Note 3 to the Consolidated Financial Statements, " New Accounting Pronouncements ." On November 1, 2017, DTE Electric self-implemented a base rate increase of $125 million . A final MPSC order in this case is expected by April 2018. PSCR Proceedings The PSCR process is designed to allow DTE Electric to recover all of its power supply costs if incurred under reasonable and prudent policies and practices. DTE Electric's power supply costs include fuel and related transportation costs, purchased and net interchange power costs, NO x and SO 2 emission allowances costs, urea costs, transmission costs, MISO, and other related costs. The MPSC reviews these costs, policies, and practices for prudence in annual plan and reconciliation filings. 2015 PSCR Year — In March 2016, DTE Electric filed its 2015 PSCR reconciliation that included the recovery of approximately $13 million of costs related to the pass through of a billing adjustment associated with a previous MPSC ordered customer refund. On July 12, 2017, the MPSC issued an order that disallowed recovery of this 2015 PSCR billing adjustment pass through of approximately $16 million , inclusive of interest. DTE Electric recorded the impact of the disallowance in the second quarter of 2017 and filed a claim of appeal with the Michigan Court of Appeals in August 2017. Certificate of Necessity On July 31, 2017, DTE Electric filed a request for authority to build a 1,100 megawatt natural gas fueled combined cycle generation facility at DTE Electric's Belle River Power Plant. DTE Electric requested the MPSC to issue three CONs for the following: (1) power supplied by the proposed project is needed, (2) the size, fuel type, and other design characteristics of the proposed project represent the most reasonable and prudent means of meeting the power need, and (3) the estimated capital costs of $989 million for the proposed project will be recoverable in rates from DTE Electric's customers. DTE Electric expects an order in this proceeding from the MPSC by April 27, 2018. 2017 Gas Rate Case Filing DTE Gas filed a rate case with the MPSC on November 22, 2017 requesting an increase in base rates of $85.1 million based on a projected twelve-month period ending September 30, 2019. The requested increase in base rates is primarily due to an increase in net plant. The rate filing also includes projected changes in sales, operations, maintenance expenses, and working capital. The rate filing also requests an increase in return on equity from 10.1% to 10.5% . To mitigate the impact to its customers resulting from ASU No. 2017-07, Compensation — Retirement Benefits (Topic 715), DTE Gas suggested regulatory accounting treatment for the pension and postretirement cost components previously included as capital overhead. If the MPSC adopts DTE Gas' suggestion, the rate request will be reduced. For further discussion of ASU No. 2017-07, see Note 3 to the Consolidated Financial Statements, " New Accounting Pronouncements ." A final MPSC order in this case is expected by September 2018. 2017 Tax Reform On December 27, 2017, the MPSC issued an order to consider changes in the rates of all Michigan rate-regulated utilities to reflect the effects of the federal TCJA. On January 19, 2018, DTE Electric and DTE Gas filed information with the MPSC regarding the potential change in revenue requirements due to the TCJA effective January 1, 2018, and outlined our recommended method to flow the current and deferred tax benefits of those impacts to ratepayers. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Income Tax Summary DTE Energy files a consolidated federal income tax return. DTE Electric is a part of the consolidated federal income tax return of DTE Energy. DTE Energy and its subsidiaries file consolidated and/or separate company income tax returns in various states and localities, including a consolidated return in the State of Michigan. DTE Electric is part of the Michigan consolidated income tax return of DTE Energy. The federal, state and local income tax expense for DTE Electric is determined on an individual company basis with no allocation of tax expenses or benefits from other affiliates of DTE Energy. DTE Electric had income tax receivables with DTE Energy of $12 million and $9 million at December 31, 2017 and 2016 , respectively. The Registrants' total Income Tax Expense varied from the statutory federal income tax rate for the following reasons: 2017 2016 2015 DTE Energy (In millions) Income Before Income Taxes $ 1,287 $ 1,105 $ 950 Income tax expense at 35% statutory rate $ 450 $ 387 $ 333 Production tax credits (189 ) (145 ) (122 ) Investment tax credits (4 ) (5 ) (7 ) Depreciation (4 ) (4 ) (4 ) Noncontrolling interests 8 12 2 AFUDC equity (18 ) (10 ) (8 ) Employee Stock Ownership Plan dividends (5 ) (5 ) (5 ) Stock based compensation (14 ) — — Subsidiary stock loss — (10 ) — State and local income taxes, net of federal benefit 51 58 35 Enactment of the Tax Cuts and Jobs Act (105 ) — — Other, net 5 (7 ) 6 Income Tax Expense $ 175 $ 271 $ 230 Effective income tax rate 13.6 % 24.5 % 24.2 % 2017 2016 2015 DTE Electric (In millions) Income Before Income Taxes $ 928 $ 975 $ 836 Income tax expense at 35% statutory rate $ 325 $ 341 $ 293 Production tax credits (36 ) (30 ) (31 ) Investment tax credits (4 ) (4 ) (5 ) Depreciation 3 3 3 AFUDC equity (5 ) (6 ) (7 ) Employee Stock Ownership Plan dividends (3 ) (3 ) (3 ) State and local income taxes, net of federal benefit 48 56 43 Other, net (1 ) (4 ) (1 ) Income Tax Expense $ 327 $ 353 $ 292 Effective income tax rate 35.2 % 36.2 % 34.9 % Components of the Registrants' Income Tax Expense were as follows: 2017 2016 2015 DTE Energy (In millions) Current income tax expense (benefit) Federal $ (22 ) $ (1 ) $ (3 ) State and other income tax 1 7 (4 ) Total current income taxes (21 ) 6 (7 ) Deferred income tax expense Federal 118 184 178 State and other income tax 78 81 59 Total deferred income taxes 196 265 237 $ 175 $ 271 $ 230 2017 2016 2015 DTE Electric (In millions) Current income tax expense (benefit) Federal $ (17 ) $ — $ (26 ) State and other income tax (1 ) 11 (2 ) Total current income taxes (18 ) 11 (28 ) Deferred income tax expense Federal 270 268 252 State and other income tax 75 74 68 Total deferred income taxes 345 342 320 $ 327 $ 353 $ 292 Deferred tax assets and liabilities are recognized for the estimated future tax effect of temporary differences between the tax basis of assets or liabilities and the reported amounts in the Consolidated Financial Statements. Consistent with the original establishment of these deferred tax liabilities (assets), no recognition of these non-cash transactions have been reflected in the Consolidated Statements of Cash Flows. The Registrants' deferred tax assets (liabilities) were comprised of the following at December 31: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Property, plant, and equipment $ (3,276 ) $ (4,880 ) $ (2,698 ) $ (3,819 ) Regulatory assets and liabilities (94 ) (879 ) (31 ) (778 ) Tax credit carry-forwards 947 643 193 116 Pension and benefits 334 643 302 518 Federal net operating loss carry-forward 83 190 47 42 State and local net operating loss carry-forwards 70 59 5 1 Investments in equity method investees (82 ) (119 ) — — Other 170 217 94 127 (1,848 ) (4,126 ) (2,088 ) (3,793 ) Less valuation allowance (40 ) (36 ) — — Long-term deferred income tax liabilities $ (1,888 ) $ (4,162 ) $ (2,088 ) $ (3,793 ) Deferred income tax assets $ 1,814 $ 1,463 $ 830 $ 569 Deferred income tax liabilities (3,702 ) (5,625 ) (2,918 ) (4,362 ) $ (1,888 ) $ (4,162 ) $ (2,088 ) $ (3,793 ) Tax credit carry-forwards for DTE Energy include $640 million of general business credits that expire from 2034 through 2037 and $307 million of alternative minimum tax credits that will be refundable over the next four years. The alternative minimum tax credits are production tax credits earned prior to 2006 but not utilized. The majority of these alternative minimum tax credits were generated from projects that had received a private letter ruling (PLR) from the IRS. These PLRs provide assurance as to the appropriateness of using these credits to offset taxable income, however, these tax credits are subject to IRS audit and adjustment. No valuation allowance is required for the tax credits carry-forward deferred tax asset. DTE Energy has a federal net operating loss carry-forward of $397 million as of December 31, 2017 , which will expire from 2035 through 2037 . No valuation allowance is required for the federal net operating loss deferred tax asset. DTE Energy has state and local deferred tax assets related to net operating loss carry-forwards of $70 million and $59 million at December 31, 2017 and 2016 , respectively. The state and local net operating loss carry-forwards expire from 2018 through 2037 . DTE Energy has recorded valuation allowances at December 31, 2017 and 2016 of approximately $40 million and $36 million , respectively, with respect to these deferred tax assets. In assessing the realizability of deferred tax assets, DTE Energy considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Tax credit carry-forwards for DTE Electric include $193 million of general business credits that expire from 2035 through 2037 . No valuation allowance is required for the tax credits carry-forward deferred tax asset. DTE Electric has a federal net operating loss carry-forward of $226 million as of December 31, 2017 , which will expire in 2035 . No valuation allowance is required for the federal net operating loss deferred tax asset. DTE Electric has state and local deferred tax assets related to net operating loss carry-forwards of $5 million at December 31, 2017 , while there was $1 million state and local deferred tax asset related to net operating loss carry-forwards at December 31, 2016 . No valuation allowance is required for DTE Electric's state and local net operating loss carry-forwards. The above tables exclude unamortized investment tax credits that are shown separately on the Registrants' Consolidated Statements of Financial Position. Investment tax credits are deferred and amortized to income over the average life of the related property. Tax Cuts and Jobs Act On December 22, 2017, the TCJA was enacted reducing the corporate income tax rate from 35% to 21% , effective January 1, 2018. As a result of the enactment, the deferred tax assets and liabilities were remeasured to reflect the impact of the TCJA on the cumulative temporary differences expected to reverse after the effective date. The net impact of this remeasurement was a decrease in deferred tax liabilities of $2.56 billion , of which $2.45 billion was attributable to regulated utilities and offset to regulatory assets and liabilities. This regulatory treatment is consistent with prior precedent set by the MPSC from previous tax law changes. The remaining $105 million was attributable to the non-utility entities and was recognized as a net reduction to income tax expense in 2017. On December 22, 2017, the SEC issued guidance under Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (SAB 118), directing taxpayers to consider the implications of the TCJA as provisional when it does not have the necessary information available, prepared, or analyzed in reasonable detail to complete its accounting for the change in the tax law. The amounts above represent our best estimate based on interpretations of the TCJA. In accordance with SAB 118, the amounts recorded are considered provisional and will continue to be analyzed throughout 2018, which may result in additional changes. Uncertain Tax Positions A reconciliation of the beginning and ending amount of unrecognized tax benefits for the Registrants is as follows: 2017 2016 2015 DTE Energy (In millions) Balance at January 1 $ 10 $ 3 $ 9 Additions for tax positions of prior years — 7 — Lapse of statute of limitations — — (6 ) Balance at December 31 $ 10 $ 10 $ 3 2017 2016 2015 DTE Electric (In millions) Balance at January 1 $ 13 $ 4 $ 4 Additions for tax positions of prior years — 9 — Balance at December 31 $ 13 $ 13 $ 4 DTE Energy had $8 million of unrecognized tax benefits at December 31, 2017 and 2016 that, if recognized, would favorably impact its effective tax rate. DTE Energy does not anticipate any material decrease in unrecognized tax benefits in the next twelve months. DTE Electric had $10 million of unrecognized tax benefits at December 31, 2017 and 2016 that, if recognized, would favorably impact its effective tax rate. DTE Electric does not anticipate any material decrease in unrecognized tax benefits in the next twelve months. The Registrants recognize interest and penalties pertaining to income taxes in Interest expense and Other expenses, respectively, on their Consolidated Statements of Operations. Accrued interest pertaining to income taxes for DTE Energy totaled $3 million at December 31, 2017 and 2016 . DTE Energy recognized interest expense related to income taxes of a nominal amount in 2017 , $2 million in 2016 , and a nominal amount in 2015 . DTE Energy had accrued no penalties pertaining to income taxes. Accrued interest pertaining to income taxes for DTE Electric totaled $4 million at December 31, 2017 and 2016 . DTE Electric recognized interest expense related to income taxes of a nominal amount in 2017 , $3 million in 2016 , and a nominal amount in 2015 . DTE Electric had accrued no penalties pertaining to income taxes. In 2017 , DTE Energy, including DTE Electric, settled a federal tax audit for the 2015 tax year. DTE Energy's federal income tax returns for 2016 and subsequent years remain subject to examination by the IRS. DTE Energy's Michigan Business Tax and Michigan Corporate Income Tax returns for the year 2008 and subsequent years remain subject to examination by the State of Michigan. DTE Energy also files tax returns in numerous state and local jurisdictions with varying statutes of limitation. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE Basic earnings per share is calculated by dividing the 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, performance shares, and stock options do not receive cash dividends; as such, these awards are not considered participating securities. For additional information, see Notes 14 and 21 to Consolidated Financial Statements, " Long-Term Debt " and " Stock-Based Compensation ," respectively. The following is a reconciliation of DTE Energy's basic and diluted income per share calculation for the years ended December 31 : 2017 2016 2015 (In millions, except per share amounts) Basic Earnings per Share Net Income Attributable to DTE Energy Company $ 1,134 $ 868 $ 727 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — basic $ 1,132 $ 866 $ 725 Average number of common shares outstanding 179 179 179 Basic Earnings per Common Share $ 6.32 $ 4.84 $ 4.05 Diluted Earnings per Share Net Income Attributable to DTE Energy Company $ 1,134 $ 868 $ 727 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — diluted $ 1,132 $ 866 $ 725 Average number of common shares outstanding 179 179 179 Diluted Earnings per Common Share (a) $ 6.32 $ 4.83 $ 4.05 _______________________________________ (a) The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6 million and 7.1 million for the years ended December 31, 2017 and 2016 , respectively, as the dilutive stock price threshold was not met. For more information, see Note 14 to the Consolidated Financial Statements, " Long-Term Debt ." |
Fair Value
Fair Value | 12 Months Ended |
Dec. 31, 2017 | |
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 December 31, 2017 and 2016 . 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: December 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Other (a) Netting (b) Net Balance Level 1 Level 2 Level 3 Netting (b) Net Balance (In millions) Assets: Cash equivalents (c) $ 16 $ 3 $ — $ — $ — $ 19 $ 14 $ 3 $ — $ — $ 17 Nuclear decommissioning trusts Equity securities 978 — — — — 978 887 — — — 887 Fixed income securities 18 477 — — — 495 11 414 — — 425 Private equity securities — — — 5 — 5 — — — — — Cash equivalents 14 — — — — 14 8 — — — 8 Other investments (d) Equity securities 118 — — — — 118 104 — — — 104 Fixed income securities 72 — — — — 72 58 — — — 58 Cash equivalents 4 — — — — 4 3 — — — 3 Derivative assets: Commodity Contracts: Natural Gas 148 112 97 — (256 ) 101 216 79 53 (306 ) 42 Electricity — 243 42 — (241 ) 44 — 154 39 (157 ) 36 Other — — 9 — — 9 — — 2 — 2 Foreign currency exchange contracts — 1 — — (1 ) — — 6 — (5 ) 1 Total derivative assets 148 356 148 — (498 ) 154 216 239 94 (468 ) 81 Total $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 $ 1,301 $ 656 $ 94 $ (468 ) $ 1,583 Liabilities: Derivative liabilities: Commodity Contracts: Natural Gas $ (141 ) $ (111 ) $ (126 ) $ — $ 263 $ (115 ) $ (226 ) $ (86 ) $ (149 ) $ 321 $ (140 ) Electricity — (245 ) (30 ) — 246 (29 ) — (159 ) (30 ) 163 (26 ) Other — — (1 ) — 1 — — — (3 ) 2 (1 ) Foreign currency exchange contracts — (3 ) — — 1 (2 ) — (3 ) — 3 — Total derivative liabilities (141 ) (359 ) (157 ) — 511 (146 ) (226 ) (248 ) (182 ) 489 (167 ) Total $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) $ (226 ) $ (248 ) $ (182 ) $ 489 $ (167 ) Net Assets (Liabilities) at end of period $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 $ 1,075 $ 408 $ (88 ) $ 21 $ 1,416 Assets: Current $ 157 $ 298 $ 104 $ — $ (437 ) $ 122 $ 205 $ 199 $ 60 $ (400 ) $ 64 Noncurrent 1,211 538 44 5 (61 ) 1,737 1,096 457 34 (68 ) 1,519 Total Assets $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 $ 1,301 $ 656 $ 94 $ (468 ) $ 1,583 Liabilities: Current $ (137 ) $ (313 ) $ (108 ) $ — $ 459 $ (99 ) $ (203 ) $ (211 ) $ (79 ) $ 424 $ (69 ) Noncurrent (4 ) (46 ) (49 ) — 52 (47 ) (23 ) (37 ) (103 ) 65 (98 ) Total Liabilities $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) $ (226 ) $ (248 ) $ (182 ) $ 489 $ (167 ) Net Assets (Liabilities) at end of period $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 $ 1,075 $ 408 $ (88 ) $ 21 $ 1,416 _______________________________________ (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) At December 31, 2017 , available-for-sale securities of $19 million included $8 million and $11 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2016 , available-for-sale securities of $17 million , included $7 million and $10 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. (d) Excludes cash surrender value of life insurance investments. The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis: December 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Other (a) Net Balance Level 1 Level 2 Level 3 Net Balance (In millions) Assets: Cash equivalents (b) $ 8 $ 3 $ — $ — $ 11 $ 8 $ 3 $ — $ 11 Nuclear decommissioning trusts Equity securities 978 — — — 978 887 — — 887 Fixed income securities 18 477 — — 495 11 414 — 425 Private equity securities — — — 5 5 — — — — Cash equivalents 14 — — — 14 8 — — 8 Other investments Equity securities 11 — — — 11 9 — — 9 Derivative assets — FTRs — — 9 — 9 — — 2 2 Total $ 1,029 $ 480 $ 9 $ 5 $ 1,523 $ 923 $ 417 $ 2 $ 1,342 Assets: Current $ 8 $ 3 $ 9 $ — $ 20 $ 8 $ 3 $ 2 $ 13 Noncurrent 1,021 477 — 5 1,503 915 414 — 1,329 Total Assets $ 1,029 $ 480 $ 9 $ 5 $ 1,523 $ 923 $ 417 $ 2 $ 1,342 _______________________________________ (a) Amounts represent assets valued at NAV as a practical expedient for fair value. (b) At December 31, 2017 , available-for-sale securities of $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2016 , available-for-sale securities of $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. 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 institutional mutual funds and commingled funds. Other assets such as private market investments are used to enhance long-term returns while improving portfolio diversification. All pricing for investments in this category are classified as NAV assets. Exchange-traded debt and equity securities held directly 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. The institutional mutual funds hold exchange-traded equity or debt securities (exchange and non-exchange traded) and are valued based on publicly available NAVs. 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 price 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. Additionally, the Registrants selectively corroborate the fair value of securities by comparison of market-based price sources. Investment policies and procedures are determined by DTE Energy's Trust Investments Department which reports to DTE Energy's Vice President and Treasurer. 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 for the years ended December 31, 2017 and 2016 : Year Ended December 31, 2017 Year Ended December 31, 2016 Natural Gas Electricity Other Total Natural Gas Electricity Other Total (In millions) Net Assets (Liabilities) as of January 1 $ (96 ) $ 9 $ (1 ) $ (88 ) $ (5 ) $ 6 $ (5 ) $ (4 ) Transfers into Level 3 from Level 2 — — — — — — — — Transfers from Level 3 into Level 2 — — — — — — — — Total gains (losses) Included in earnings (29 ) 109 2 82 (159 ) (2 ) 1 (160 ) Recorded in Regulatory liabilities — — 25 25 — — 6 6 Purchases, issuances, and settlements: Purchases — — — — — 1 — 1 Settlements 96 (106 ) (18 ) (28 ) 68 4 (3 ) 69 Net Assets (Liabilities) as of December 31 $ (29 ) $ 12 $ 8 $ (9 ) $ (96 ) $ 9 $ (1 ) $ (88 ) The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations $ (30 ) $ 50 $ 1 $ 21 $ (166 ) $ 7 $ 2 $ (157 ) 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 for the years ended December 31, 2017 and 2016 : Year Ended December 31, 2017 2016 (In millions) Net Assets as of January 1 $ 2 $ 3 Change in fair value recorded in Regulatory liabilities 25 6 Purchases, issuances, and settlements: Settlements (18 ) (7 ) Net Assets as of December 31 $ 9 $ 2 The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in DTE Electric's Consolidated Statements of Financial Position $ 9 $ 2 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 between Levels 1 and 2 for the Registrants during the years ended December 31, 2017 and 2016 , and there were no transfers from or into Level 3 for DTE Electric during the same periods. The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities as of December 31, 2017 and 2016 : December 31, 2017 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 97 $ (126 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (1.10 ) — $ 9.75 /MMBtu $ (0.03 )/MMBtu Electricity $ 42 $ (30 ) Discounted Cash Flow Forward basis price (per MWh) $ (5 ) — $ 15 /MWh $ 2 /MWh December 31, 2016 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 53 $ (149 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (1.00 ) — $ 7.90 /MMBtu $ (0.05 )/MMBtu Electricity $ 39 $ (30 ) Discounted Cash Flow Forward basis price (per MWh) $ (6 ) — $ 12 /MWh $ 1 /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 inputs listed above would have 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 result in a higher (lower) fair value for long positions, with offsetting impacts to short positions. Fair Value of Financial Instruments The fair value of financial instruments included in the table below is determined by using quoted market prices when available. When quoted prices are not available, pricing services may be used to determine the fair value with reference to observable interest rate indexes. The Registrants have obtained an understanding of how the fair values are derived. The Registrants also selectively corroborate the fair value of their transactions by comparison of market-based price sources. Discounted cash flow analyses based upon estimated current borrowing rates are also used to determine fair value when quoted market prices are not available. The fair values of notes receivable, excluding capital leases, and notes payable are generally estimated using discounted cash flow techniques that incorporate market interest rates as well as assumptions about the remaining life of the loans and credit risk. Depending on the information available, other valuation techniques may be used that rely on internal assumptions and models. Valuation policies and procedures for the Registrants are determined by DTE Energy's Treasury Department which reports to DTE Energy's Vice President and Treasurer and DTE Energy's Controller's Department which reports to DTE Energy's Vice President, Controller, and Chief Accounting Officer. The following table presents the carrying amount and fair value of financial instruments for DTE Energy as of December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (In millions) Notes receivable (a) , excluding capital leases $ 38 $ — $ — $ 38 $ 36 $ — $ — $ 36 Dividends payable $ 158 $ 158 $ — $ — $ 148 $ 148 $ — $ — Short-term borrowings $ 621 $ — $ 621 $ — $ 499 $ — $ 499 $ — Notes payable — Other (b) , excluding capital leases $ 12 $ — $ — $ 12 $ 17 $ — $ — $ 17 Long-term debt (c) $ 12,288 $ 1,939 $ 10,571 $ 764 $ 11,270 $ 1,465 $ 9,384 $ 1,056 _______________________________________ (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, unamortized debt discounts, premiums, and issuance costs. Excludes Capital lease obligations. The following table presents the carrying amount and fair value of financial instruments for DTE Electric as of December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (In millions) Notes receivable (a) , excluding capital leases $ — $ — $ — $ — $ 5 $ — $ — $ 5 Short-term borrowings — affiliates $ 116 $ — $ — $ 116 $ 117 $ — $ — $ 117 Short-term borrowings — other $ 238 $ — $ 238 $ — 62 $ — $ 62 $ — Notes payable — Other (b) , excluding capital leases $ 2 $ — $ — $ 2 $ 6 $ — $ — $ 6 Long-term debt (c) $ 6,017 $ — $ 6,441 $ 171 $ 5,878 $ — $ 6,026 $ 264 _______________________________________ (a) Current portion 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, unamortized debt discounts, and issuance costs. Excludes Capital lease obligations. For further fair value information on financial and derivative instruments, see Note 13 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. See Note 8 to the Consolidated Financial Statements, " Asset Retirement Obligations ." The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets: December 31, 2017 December 31, 2016 (In millions) Fermi 2 $ 1,475 $ 1,291 Fermi 1 3 3 Low-level radioactive waste 14 26 $ 1,492 $ 1,320 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: Year Ended December 31, 2017 2016 2015 (In millions) Realized gains $ 83 $ 74 $ 39 Realized losses $ (29 ) $ (63 ) $ (33 ) Proceeds from sale of securities $ 1,240 $ 1,457 $ 885 Realized gains and losses from the sale of securities for Fermi 2 are recorded to the Regulatory asset and Nuclear decommissioning liability. Realized gains and losses from the sale of securities for 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: December 31, 2017 December 31, 2016 Fair Unrealized Unrealized Losses Fair Unrealized Unrealized Losses (In millions) Equity securities $ 978 $ 320 $ (32 ) $ 887 $ 222 $ (46 ) Fixed income securities 495 13 (3 ) 425 11 (5 ) Private equity securities 5 — — — — — Cash equivalents 14 — — 8 — — $ 1,492 $ 333 $ (35 ) $ 1,320 $ 233 $ (51 ) The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity: December 31, 2017 (In millions) Due within one year $ 23 Due after one through five years 102 Due after five through ten years 115 Due after ten years 255 $ 495 Securities held in the Nuclear decommissioning trust funds are classified as available-for-sale. As DTE Electric does not have the ability to hold impaired investments for a period of time sufficient to allow for the anticipated recovery of market value, all unrealized losses are considered to be other-than-temporary impairments. Unrealized losses incurred by the Fermi 2 trust are recognized as a Regulatory asset and Nuclear decommissioning liability. Unrealized losses on the low-level radioactive waste funds are recognized as a Nuclear decommissioning liability. Other Securities At December 31, 2017 and 2016 , the Registrants' securities were comprised primarily of money market and equity securities. There were no unrealized losses on available-for-sale securities which were reclassified out of Other comprehensive income (loss) and realized into Net Income for DTE Energy or DTE Electric during the years ended December 31, 2017 and 2016 . Gains related to trading securities held at December 31, 2017 , 2016 , and 2015 were $26 million , $15 million , and $1 million , respectively, for the Registrants. The trading gains or losses related to the Rabbi Trust assets, included in Other investments at DTE Energy, are allocated from DTE Energy to DTE Electric. |
Financial and Other Derivative
Financial and Other Derivative Instruments | 12 Months Ended |
Dec. 31, 2017 | |
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 portion of the derivative gain or loss that is effective in offsetting the change in the value of the underlying exposure is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. Gains or losses from the ineffective portion of cash flow hedges are recognized in earnings immediately. 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 coal forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas inventory, pipeline transportation contracts, renewable energy credits, and natural gas storage assets. DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward energy 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 sells storage and transportation capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2020. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. DTE Gas may also sell forward transportation and storage capacity contracts. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method. Gas Storage and Pipelines — This segment is primarily engaged in services related to the gathering, transportation, and storage of natural gas. Primarily fixed-priced contracts are used in the marketing and management of transportation and storage services. Generally, these contracts are not derivatives and are therefore accounted for under the accrual method. Power and Industrial Projects — This segment manages and operates energy and pulverized coal projects, a coke battery, reduced emissions fuel projects, landfill gas recovery, and power generation assets. Primarily fixed-price contracts are used in the marketing and management of the segment assets. These contracts 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 December 31, 2017 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 as of December 31, 2017 and 2016 for DTE Energy: December 31, 2017 December 31, 2016 Derivative Derivative Derivative Derivative (In millions) Derivatives not designated as hedging instruments: Commodity Contracts: Natural Gas $ 357 $ (378 ) $ 348 $ (461 ) Electricity 285 (275 ) 193 (189 ) Other 9 (1 ) 2 (3 ) Foreign currency exchange contracts 1 (3 ) 6 (3 ) Total derivatives not designated as hedging instrument $ 652 $ (657 ) $ 549 $ (656 ) Current $ 540 $ (558 ) $ 447 $ (493 ) Noncurrent 112 (99 ) 102 (163 ) Total derivatives $ 652 $ (657 ) $ 549 $ (656 ) The following table presents the fair value of derivative instruments as of December 31, 2017 and 2016 for DTE Electric: December 31, 2017 2016 (In millions) FTRs — Other current assets $ 9 $ 2 Total derivatives not designated as hedging instruments $ 9 $ 2 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 issued letters of credit of approximately $4 million and $2 million outstanding at December 31, 2017 and 2016 , respectively, 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 $4 million and $2 million at December 31, 2017 and 2016 , 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. For DTE Energy, the total cash collateral posted, net of cash collateral received, was $28 million and $34 million as of December 31, 2017 and 2016 , respectively. DTE Energy had $9 million of cash collateral related to unrealized positions to net against Derivative assets while Derivative liabilities are shown net of cash collateral of $22 million as of December 31, 2017 . DTE Energy had $7 million of cash collateral related to unrealized positions to net against Derivative assets while Derivative liabilities are shown net of cash collateral of $28 million as of December 31, 2016 . DTE Energy recorded cash collateral paid of $18 million and cash collateral received of $3 million not related to unrealized derivative positions as of December 31, 2017 . DTE Energy recorded cash collateral paid of $18 million and cash collateral received of $5 million not related to unrealized derivative positions as of December 31, 2016 . These amounts are included in Accounts receivable and Accounts payable and are recorded net by counterparty. The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy at December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Consolidated Statements of Financial Position Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Consolidated Statements of Financial Position Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (In millions) Derivative assets: Commodity Contracts: Natural Gas $ 357 $ (256 ) $ 101 $ 348 $ (306 ) $ 42 Electricity 285 (241 ) 44 193 (157 ) 36 Other 9 — 9 2 — 2 Foreign currency exchange contracts 1 (1 ) — 6 (5 ) 1 Total derivative assets $ 652 $ (498 ) $ 154 $ 549 $ (468 ) $ 81 Derivative liabilities: Commodity Contracts: Natural Gas $ (378 ) $ 263 $ (115 ) $ (461 ) $ 321 $ (140 ) Electricity (275 ) 246 (29 ) (189 ) 163 (26 ) Other (1 ) 1 — (3 ) 2 (1 ) Foreign currency exchange contracts (3 ) 1 (2 ) (3 ) 3 — Total derivative liabilities $ (657 ) $ 511 $ (146 ) $ (656 ) $ 489 $ (167 ) 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 at December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Current Noncurrent Current Noncurrent Current Noncurrent Current Noncurrent (In millions) Total fair value of derivatives $ 540 $ 112 $ (558 ) $ (99 ) $ 447 $ 102 $ (493 ) $ (163 ) Counterparty netting (437 ) (52 ) 437 52 (396 ) (65 ) 396 65 Collateral adjustment — (9 ) 22 — (4 ) (3 ) 28 — Total derivatives as reported $ 103 $ 51 $ (99 ) $ (47 ) $ 47 $ 34 $ (69 ) $ (98 ) The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations for years ended December 31, 2017 and 2016 is as follows: Location of Gain (Loss) Recognized in Income on Derivatives Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, Derivatives not Designated as Hedging Instruments 2017 2016 (In millions) Commodity Contracts: Natural Gas Operating Revenues — Non-utility operations $ (74 ) $ (153 ) Natural Gas Fuel, purchased power, and gas — non-utility 97 (2 ) Electricity Operating Revenues — Non-utility operations 105 43 Other Operating Revenues — Non-utility operations 2 5 Foreign currency exchange contracts Operating Revenues — Non-utility operations (2 ) (2 ) Total $ 128 $ (109 ) 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, and gas — non-utility. The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of December 31, 2017 : Commodity Number of Units Natural Gas (MMBtu) 1,822,796,301 Electricity (MWh) 29,715,268 Foreign Currency Exchange (Canadian dollars) 108,023,948 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, and coal) and the provisions and maturities of the underlying transactions. As of December 31, 2017 , 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 approximately $456 million . As of December 31, 2017 , DTE Energy had approximately $535 million of derivatives in net liability positions, for which hard triggers exist. There is no 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 approximately $468 million . The net remaining amount of approximately $67 million is derived from the $456 million noted above. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2017 | |
Long-term Debt, Unclassified [Abstract] | |
Long-Term Debt | LONG-TERM DEBT Long-Term Debt DTE Energy's long-term debt outstanding and weighted average interest rates of debt outstanding at December 31 were: Interest Rate (a) Maturity Date 2017 2016 (In millions) Mortgage bonds, notes, and other DTE Energy Debt, Unsecured 3.1% 2019 — 2033 $ 3,825 $ 3,325 DTE Electric Taxable Debt, Principally Secured 4.3% 2020 — 2047 5,755 5,615 DTE Electric Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 DTE Gas Taxable Debt, Principally Secured 4.8% 2018 — 2047 1,330 1,250 Other Long-Term Debt, including Non-Recourse Debt 7 92 11,227 10,592 Unamortized debt discount and premium, net (15 ) (10 ) Unamortized debt issuance costs (69 ) (67 ) Long-term debt due within one year (104 ) (9 ) $ 11,039 $ 10,506 Junior Subordinated Debentures Subordinated Debentures 5.5% 2062 — 2077 $ 1,180 $ 780 Unamortized debt issuance costs (35 ) (24 ) $ 1,145 $ 756 _______________________________________ (a) Weighted average interest rate as of December 31, 2017 . (b) DTE Electric Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds. DTE Electric's long-term debt outstanding and weighted average interest rates of debt outstanding at December 31 were: Interest Rate (a) Maturity Date 2017 2016 (In millions) Mortgage bonds, notes, and other Taxable Debt, Principally Secured 4.3% 2020 — 2047 $ 5,755 $ 5,615 Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 6,065 5,925 Unamortized debt discount (10 ) (10 ) Unamortized debt issuance costs (38 ) (37 ) $ 6,017 $ 5,878 _______________________________________ (a) Weighted average interest rate as of December 31, 2017 . (b) Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds. Debt Issuances In 2017 , the following debt was issued: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Energy March Senior Notes (a) 3.80% 2027 $ 500 DTE Electric August General and Refunding Mortgage Bonds (b) 3.75% 2047 440 DTE Gas September First Mortgage Bonds (a) 3.08% 2029 40 DTE Gas September First Mortgage Bonds (a) 3.75% 2047 40 DTE Energy November Junior Subordinated Debentures (a) 5.25% 2077 400 $ 1,420 _______________________________________ (a) Proceeds were used for repayment of short-term borrowings and general corporate purposes. (b) Proceeds were used to repay $300 million of DTE Electric's 2008 series G 5.60% Senior Notes due on June 15, 2018, for the repayment of short-term borrowings and general corporate purposes. Debt Redemptions In 2017 , the following debt was redeemed: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Electric August Senior Notes 5.60% 2018 $ 300 DTE Energy September Secured Note (a) 7.29% 2029 77 DTE Energy Various Other Long-Term Debt Various 2017 8 $ 385 _______________________________________ (a) DTE Energy's Gas Storage and Pipelines segment recognized a $16 million net loss on extinguishment of debt associated with early repayment, consisting of $20 million of early redemption premiums and $4 million of unamortized debt premiums. The loss is reflected in Other (Income) and Deductions — Interest Expense on the Consolidated Statements of Operations. The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount or premium on debt: 2018 2019 2020 2021 2022 2023 and Thereafter Total (In millions) DTE Energy (a) $ 104 $ 1,497 $ 683 $ 462 $ 616 $ 9,045 $ 12,407 DTE Electric $ — $ — $ 632 $ 462 $ 316 $ 4,655 $ 6,065 _______________________________________ (a) Amounts include DTE Electric's scheduled debt maturities. Junior Subordinated Debentures At December 31, 2017 , DTE Energy had the following Junior Subordinated Debentures: Interest Rate Maturity Date Amount (In millions) 2012 Series C 5.25% 2062 $ 200 2016 Series B 5.375% 2076 300 2016 Series F 6.00% 2076 280 2017 Series E 5.25% 2077 400 $ 1,180 DTE Energy has the right to defer interest payments on the debt securities. Should DTE Energy exercise this right, it cannot declare or pay dividends on, or redeem, purchase or acquire, any of its capital stock during the deferral period. Any deferred interest payments will bear additional interest at the rate associated with the related debt issue. As of December 31, 2017 , no interest payments have been deferred on the debt securities. Cross Default Provisions Substantially all of the net utility properties of DTE Electric and DTE Gas are subject to the lien of mortgages. Should DTE Electric or DTE Gas fail to timely pay their indebtedness under these mortgages, such failure may create cross defaults in the indebtedness of DTE Energy. Acquisition Financing Effective October 1, 2016 , DTE Energy closed on the purchase of midstream natural gas assets. The acquisition was financed through the issuance of Equity Units and Senior Notes. See Note 4 to the Consolidated Financial Statements, " Acquisitions and Exit Activities ," for more information on the acquisition. In October 2016, DTE issued $675 million of Equity Units. Each Equity Unit has a stated amount of $ 50 , initially in the form of a Corporate Unit, is comprised of (i) a forward purchase contract to buy DTE Energy common stock (stock purchase contract) and (ii) a 1/20 undivided beneficial ownership interest in $1,000 principal amount of DTE Energy’s 2016 Series C 1.5% RSNs due 2024 . The RSN debt instruments and the stock purchase contract equity instruments are deemed to be separate instruments as the investor may trade the RSNs separately from the stock purchase contracts and may also settle the stock purchase contracts separately. The Corporate Units are listed on the New York Stock Exchange under the symbol DTV. The stock purchase contract obligates the holder to purchase from DTE Energy on the settlement date, October 1, 2019, for a price of $ 50 per stock purchase contract, the following number of shares of DTE Energy’s common stock, subject to anti-dilution adjustments: • if the AMV of DTE Energy’s common stock, which is the average volume-weighted average price of DTE Energy’s common stock for the trading days during the 20 consecutive scheduled trading day period ending on the third scheduled trading day immediately preceding the stock purchase contract settlement date, is equal to or greater than $116.31 , 0.4299 shares of common stock; • if the AMV is less than $116.31 but greater than $ 93.05 , a number of shares of common stock equal to $50 divided by the AMV, rounded to the nearest 1/10,000th of a share; and • if the AMV is less than or equal to $93.05 , 0.5373 shares of common stock. The RSNs bear interest at a rate of 1.5% per year, payable quarterly, and mature on October 1, 2024 . The RSNs will be remarketed in 2019. If this remarketing is successful, the interest rate on the RSNs will be reset, and thereafter interest will be payable semi-annually at the reset rate. If there is no successful remarketing, the interest rate on the RSNs will not be reset, and the holders of the RSNs will have the right to put the RSNs to DTE Energy at a price equal to 100% of the principal amount, and the proceeds of the put right will be deemed to have been applied against the holders’ obligation under the stock purchase contracts. DTE Energy may also redeem, in whole or in part, the RSNs in the event of a failed final remarketing. On January 1, 2017, DTE Energy began paying the stock purchase contract holders quarterly contract adjustment payments at a rate of 5% per year of the stated amount of $50 per Equity Unit, or $2.50 per year. The present value of the future contract adjustment payments of $98 million was recorded as a reduction of shareholders’ equity, offset by the stock purchase contract liability. The stock purchase contract liability is included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy’s Consolidated Statements of Financial Position. Interest payments on the RSNs are recorded as interest expense and stock purchase contract payments are charged against the liability. Accretion of the stock purchase contract liability is recorded as imputed interest expense. The treasury stock method is used to compute diluted EPS for the stock purchase contract. Under the treasury stock method, the stock purchase contract will only have a dilutive effect when the settlement rate is based on the market value of DTE’s common stock that is greater than $116.31 (the threshold appreciation price). At December 31, 2017 , the stock purchase price contract was anti-dilutive and, therefore, not included in the computation of diluted earnings per share. If payments for the stock purchase contract are deferred, DTE Energy may not make any cash distributions related to its capital stock, including dividends, redemptions, repurchases, liquidation payments or guarantee payments. Also, during the deferral period, DTE Energy may not make any payments on or redeem or repurchase any debt securities that are equal in right of payment with, or subordinated to, the RSNs. Until settlement of the stock purchase contracts, the shares of stock underlying each contract are not outstanding. Under the terms of the stock purchase contracts, assuming no anti-dilution or other adjustments, DTE Energy will issue between 5.8 million and 7.3 million shares of its common stock in October 2019. A total of 9 million shares of DTE Energy’s common stock have been reserved for issuance in connection with the stock purchase contracts. Selected information about DTE Energy’s 2016 Equity Units is presented below: Issuance Date Units Issued Total Net Proceeds Total Long-Term Debt RSN Annual Interest Rate Stock Purchase Contract Annual Rate Stock Purchase Settlement Date Stock Purchase Contract Liability (a) RSN Maturity Date (In millions, except interest rates) 10/5/2016 13.5 $ 654 $ 675 1.5% 5.0% 10/1/2019 $ 98 10/1/2024 _______________________________________ (a) Payments of $32 million were made in 2017. The stock purchase contract liability was $66 million and $98 million at December 31, 2017 and 2016 , respectively, exclusive of interest. In October 2016, DTE Energy issued $400 million of 2016 Series D 1.50% Senior Notes due 2019 and $600 million of Series E 2.85% Senior Notes due 2026. The proceeds from the Senior Notes were used for the acquisition and general corporate purposes. |
Preferred and Preference Securi
Preferred and Preference Securities | 12 Months Ended |
Dec. 31, 2017 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Preferred and Preference Securities | PREFERRED AND PREFERENCE SECURITIES As of December 31, 2017 , the amount of authorized and unissued stock is as follows: Company Type of Stock Par Value Shares Authorized DTE Energy Preferred $ — 5,000,000 DTE Electric Preferred $ 100 6,747,484 DTE Electric Preference $ 1 30,000,000 DTE Gas Preferred $ 1 7,000,000 DTE Gas Preference $ 1 4,000,000 |
Short-Term Credit Arrangements
Short-Term Credit Arrangements and Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
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. Additionally, DTE Energy has other facilities to support letter of credit issuance. The agreements require DTE Energy, DTE Electric, and DTE Gas to maintain a total funded debt to capitalization ratio of no more than 0.65 to 1. In the agreements, “total funded debt” means all indebtedness of each respective company and their consolidated subsidiaries, including capital 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 December 31, 2017 , the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.54 to 1, 0.50 to 1, and 0.48 to 1, respectively, and were in compliance with this financial covenant. The availability under the facilities in place at December 31, 2017 is shown in the following table: DTE Energy DTE Electric DTE Gas Total (In millions) Unsecured letter of credit facility, expiring in February 2019 $ 150 $ — $ — $ 150 Unsecured letter of credit facility, expiring in September 2019 70 — — 70 Unsecured revolving credit facility, expiring April 2022 1,200 400 300 1,900 1,420 400 300 2,120 Amounts outstanding at December 31, 2017 Commercial paper issuances 83 238 300 621 Letters of credit 124 — — 124 207 238 300 745 Net availability at December 31, 2017 $ 1,213 $ 162 $ — $ 1,375 DTE Energy has approximately $9 million of other outstanding letters of credit which are used for various corporate purposes and are not included in the facilities described above. The weighted average interest rate for short-term borrowings was 1.9% and 0.9% at December 31, 2017 and 2016 , respectively, for DTE Energy. The weighted average interest rate for short-term borrowings was 1.5% and 0.8% at December 31, 2017 and 2016 , respectively, for DTE Electric. In conjunction with maintaining certain exchange traded risk management positions, DTE Energy may be required to post collateral with its clearing agent. DTE Energy has a demand financing agreement for up to $100 million with its clearing agent. The 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 and allows the right of setoff with posted collateral. At December 31, 2017 , the capacity under this facility was $100 million . The amount outstanding under this agreement was $56 million and $50 million at December 31, 2017 and 2016 , respectively, and was fully offset by the posted collateral. Dividend Restrictions Certain of DTE Energy’s credit facilities contain a provision requiring DTE Energy to maintain a total funded debt to capitalization ratio, as defined in the agreements, of no more than 0.65 to 1, which has the effect of limiting the amount of dividends DTE Energy can pay in order to maintain compliance with this provision. At December 31, 2017 , the effect of this provision was to restrict the payment of approximately $1.8 billion of Retained earnings totaling $5.6 billion . There are no other effective limitations with respect to DTE Energy’s ability to pay dividends. |
Capital and Operating Leases
Capital and Operating Leases | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Capital and Operating Leases | CAPITAL AND OPERATING LEASES Lessee — Operating Lease — The Registrants lease various assets under operating leases, including coal railcars, office buildings, a warehouse, computers, vehicles, and other equipment. The lease arrangements expire at various dates through 2046 . The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2017 were: DTE Energy DTE Electric (In millions) 2018 $ 40 $ 15 2019 34 14 2020 22 9 2021 13 9 2022 9 6 2022 and thereafter 48 38 Total minimum lease payments $ 166 $ 91 Rental expense for DTE Energy operating leases was $51 million in 2017 and $43 million in 2016 and 2015 , including rental expense for DTE Electric operating leases of $28 million in 2017 , $28 million in 2016 , and $32 million in 2015 . Lessor — Capital Lease — DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a capital lease contract that expires in 2020, with renewal options extending for five years. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has two energy services agreements, for which a portion of are accounted for as capital leases. These agreements were extended during the year and expire in 2019 and 2026. The components of DTE Energy's net investment in capital leases at December 31, 2017 , were as follows: DTE Energy (In millions) 2018 $ 13 2019 10 2020 9 2021 — 2022 — 2023 and thereafter 1 Total minimum future lease receipts 33 Residual value of leased pipeline 40 Less unearned income (15 ) Net investment in capital lease 58 Less current portion (7 ) $ 51 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
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 SO 2 and NO x . 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 SO 2 , NO x , mercury, and other emissions. Additional rulemakings may occur over the next few years which could require additional controls for SO 2 , NO x , and other hazardous air pollutants. The Cross State Air Pollution Rule (CSAPR), required further reductions of SO 2 and NO x emissions beginning in January 2015. On September 7, 2016, the EPA finalized an update to the CSAPR ozone season program by issuing the CSAPR Update Rule. This rule is expected to reduce summertime (May - September) NO x emissions from power plants in 22 states in the eastern half of the U.S., including DTE Electric facilities. The CSAPR Update Rule is intended to reduce air quality impacts of the interstate transport of air pollution on downwind areas' ability to meet the 2008 ozone National Ambient Air Quality Standards implementing power sector emission budgets and NO x allowance trading programs. DTE Electric expects to meet its obligations under CSAPR. DTE Electric does not expect this rule to have a material effect on its compliance program. The EPA proposed revised air quality standards for ground level ozone in November 2014 and specifically requested comments on the form and level of the ozone standards. The standards were finalized in October 2015. The State of Michigan recommended to the EPA in October 2016 which areas of the state are not attaining the new standard. In November 2017, the EPA completed the majority of the United States attainment/unclassifiable area designations. The Registrants expect the EPA to complete the remaining designations, including the non-attainment area designations with the 2015 ozone standards by the first quarter in 2018. DTE Electric cannot predict the financial impact of the revised ozone standards at this time. In July 2009, DTE Energy received a NOV/FOV from the EPA alleging, among other things, that five DTE Electric power plants violated New Source Performance standards, Prevention of Significant Deterioration requirements, and operating permit requirements under the Clean Air Act. In June 2010, the EPA issued a NOV/FOV making similar allegations related to a project and outage at Unit 2 of the Monroe Power Plant. In March 2013, DTE Energy received a supplemental NOV from the EPA relating to the July 2009 NOV/FOV. The supplemental NOV alleged additional violations relating to the New Source Review provisions under the Clean Air Act, among other things. In August 2010, the U.S. Department of Justice, at the request of the EPA, brought a civil suit in the U.S. District Court for the Eastern District of Michigan against DTE Energy and DTE Electric, related to the June 2010 NOV/FOV and the outage work performed at Unit 2 of the Monroe Power Plant. In August 2011, the U.S. District Court judge granted DTE Energy's motion for summary judgment in the civil case, dismissing the case and entering judgment in favor of DTE Energy and DTE Electric. In October 2011, the EPA filed a Notice of Appeal to the Court of Appeals for the Sixth Circuit. In March 2013, the Court of Appeals remanded the case to the U.S. District Court for review of the procedural component of the New Source Review notification requirements. In September 2013, the EPA filed a motion seeking leave to amend their complaint regarding the June 2010 NOV/FOV adding additional claims related to outage work performed at the Trenton Channel and Belle River Power Plants as well as additional claims related to work performed at the Monroe Power Plant. In March 2014, the U.S. District Court judge again granted DTE Energy's motion for summary judgment dismissing the civil case related to Monroe Unit 2. In April 2014, the U.S. District Court judge granted motions filed by the EPA and the Sierra Club to amend their New Source Review complaint adding additional claims for Monroe Units 1, 2, and 3, Belle River Units 1 and 2, and Trenton Channel Unit 9. In October 2014, the EPA and the U.S. Department of Justice filed a notice of appeal of the U.S. District Court judge's dismissal of the Monroe Unit 2 case. The amended New Source Review claims were all stayed pending resolution of the appeal by the Court of Appeals for the Sixth Circuit. On January 10, 2017, a divided panel of the Court reversed the decision of the U.S. District Court. On May 8, 2017, DTE Energy and DTE Electric filed a motion to stay the mandate pending filing of a petition for writ of certiorari with the U.S. Supreme Court. The Sixth Circuit granted the motion on May 16, 2017, staying the claims in the U.S. District Court until the U.S. Supreme Court disposes of the case. DTE Electric and DTE Energy filed a petition for writ of certiorari on July 31, 2017. On December 11, 2017, the U.S. Supreme Court denied certiorari. As a result of the Supreme Court electing not to review the matter, the case was sent back to the U.S. District Court for further proceedings. The Registrants are in discussion with the EPA regarding this matter. The Registrants believe that the plants and generating units identified by the EPA and the Sierra Club have complied with all applicable federal environmental regulations. Depending upon the outcome of the litigation and further discussions with the EPA regarding the two NOVs/FOVs, DTE Electric could be required to install additional pollution control equipment at some or all of the power plants in question, implement early retirement of facilities where control equipment is not economical, engage in supplemental environmental programs, and/or pay fines. The Registrants cannot predict the financial impact or outcome of this matter, or the timing of its resolution. 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, the EPA finalized performance standards for emissions of carbon dioxide from new and existing EGUs. 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 will be able to comply with the standards. In February 2016, the U.S. Supreme Court granted petitioners' requests for a stay of the carbon rules for existing EGUs (also known as the EPA Clean Power Plan) pending final review by the courts. The Clean Power Plan has no legal effect while the stay is in place. On March 28, 2017, a presidential executive order was issued on "Promoting Energy Independence and Economic Growth." The order instructs the EPA to review, and if appropriate, suspend, revise or rescind the Clean Power Plan rule. Additionally, federal agencies have been directed to conduct a review of all existing regulations that potentially burden the development and use of domestically produced energy resources. Following the issuance of this order, the federal government requested the U.S. Court of Appeals for the D.C. Circuit to hold all legal challenges in abeyance until the review of these regulations is completed. On October 10, 2017, the EPA proposed to rescind the Clean Power Plan and announced its intent to issue an ANPR seeking input as to whether it should replace the rule and, if so, what form it should take. It is not possible to determine the potential impact of the EPA's repeal and possible replacement of the Clean Power Plan on existing sources at this time. 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. 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 spent approximately $2.4 billion through 2017 . DTE Electric does not anticipate additional capital expenditures through 2024 . Water — In response to an EPA regulation, DTE Electric was required to examine alternatives for reducing the environmental impacts of the cooling water intake structures at several of its facilities. Based on the results of completed studies and expected future studies, DTE Electric may be required to install technologies to reduce the impacts of the water intake structures. A final rule became effective in October 2015. The final rule requires studies to be completed and submitted as part of the National Pollutant Discharge Elimination System (NPDES) permit application process to determine the type of technology needed to reduce impacts to fish. DTE Electric has initiated the process of completing the required studies. Final compliance for the installation of any required technology will be determined by each 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 evaluating 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 rulemaking at this time. 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. 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 aboveground 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 December 31, 2017 and 2016 , DTE Electric had $6 million and $8 million accrued for remediation, respectively. 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 October 2016. In September 2017, the EPA indicated that it intends to reconsider certain provisions of the CCR Rule, but the nature and timing of such a reconsideration is unknown. 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. CCR obligations vary based on plant life, but include the installation of monitoring wells, compliance with groundwater standards, and the closure of landfills and basins at the end of the useful life of the associated power plant or as a basin becomes inactive. In November 2015, the EPA finalized the ELG Rule for the steam electric power generating industry which may require additional controls to be installed between 2018 and 2023. Compliance schedules for individual facilities and individual waste streams are determined through issuance of new wastewater permits by the State of Michigan. The State of Michigan has issued a National Pollutant Discharge Elimination System permit for the Belle River Power Plant establishing a compliance deadline of December 31, 2021. No new permits have been issued for other facilities, consequently no compliance timelines have been established. Under the current rule, certain ELG requirements would be required to be performed in conjunction with the CCR. Over the next six years, to comply with the ELG requirements of the November 2015 rules and for the CRR requirements, costs associated with the building of new facilities or installation of controls are estimated to be approximately $295 million . On April 12, 2017, the EPA granted a petition for reconsideration of the ELG Rule. The EPA also signed an administrative stay of the ELG Rule’s compliance deadlines for fly ash transport water, bottom ash transport water, and flue gas desulfurization (FGD) wastewater, among others. On June 6, 2017, the EPA published in the Federal Register a proposed rule to postpone certain applicable deadlines within the ELG rule. The final rule was published on September 18, 2017, which extended the earliest compliance deadlines for the FGD wastewater and bottom ash transport until November 1, 2020 in order for the EPA to propose and finalize a new ruling. The ELG compliance requirements, final deadlines, and compliance costs will not be known until the EPA completes its reconsideration of the ELG Rule. 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 six of the MGP sites is complete and the sites are closed. DTE Gas has also completed partial closure of six 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 December 31, 2017 and 2016 , DTE Gas had $41 million and $43 million accrued for remediation, respectively. 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 environmental 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. Other In 2010, the EPA finalized a new one -hour SO 2 ambient air quality standard that requires states to submit plans and associated timelines for non-attainment areas that demonstrate attainment with the new SO 2 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 SO 2 and modeled concentrations exceeding the National Ambient Air Quality Standards for SO 2 . Phase 3 addresses smaller sources of SO 2 with modeled or monitored exceedances of the new SO 2 standard. Michigan's Phase 1 non-attainment area includes DTE Energy facilities in southwest Detroit and areas of Wayne County. Modeling runs by the MDEQ suggest that emission reductions may be required by significant sources of SO 2 emissions in these areas, including DTE Electric power plants and DTE Energy's Michigan coke battery facility. As part of the state implementation plan process, DTE Energy has worked with the MDEQ 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. Since several non-DTE Energy sources are also part of the proposed compliance plan, DTE Energy is unable to determine the full impact of the final required emissions reductions at this time. Michigan's Phase 2 non-attainment area includes DTE Electric facilities in St. Clair County. State implementation plans (SIPs) for Phase 2 areas describing the control strategy and timeline for demonstrating compliance with the new SO 2 standard are due to the EPA by April 2018. DTE Energy is currently working with the MDEQ to develop the required SIP. DTE Energy is unable to determine the full impact of the SIP strategy, as it is currently under development. Synthetic Fuel Guarantees DTE Energy discontinued the operations of its synthetic fuel production facilities throughout the United States as of December 31, 2007. DTE Energy provided certain guarantees and indemnities in conjunction with the sales of interests in its synfuel facilities. The guarantees cover potential commercial, environmental, oil price, 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 December 31, 2017 was approximately $620 million . Payment under these guarantees is considered remote. 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 December 31, 2017 was approximately $386 million . Payment under these guarantees is considered remote. NEXUS Guarantees NEXUS entered into certain 15 -year capacity lease agreements for the transportation of natural gas with DTE Gas and Texas Eastern Transmission, LP, an unrelated third party. Pursuant to the terms of those agreements, in December 2016, DTE Energy executed separate guarantee agreements with DTE Gas and Texas Eastern Transmission, LP, with maximum potential payments totaling $80 million and $10 million at December 31, 2017 , respectively; each representing 50% of all payment obligations due and payable by NEXUS. Should NEXUS fail to perform under the terms of those agreements, DTE Energy is required to perform on its behalf. Each guarantee terminates at the earlier of (i) such time as all of the guaranteed obligations have been fully performed, or (ii) two months following the end of the primary term of the capacity lease agreements. Subsequent to the NEXUS in-service date, the amount of each guarantee decreases annually as payments are made by NEXUS to each of the aforementioned counterparties. 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. Finally, the Registrants may provide indirect guarantees for the indebtedness of others. DTE Energy’s guarantees are not individually material with maximum potential payments totaling $55 million at December 31, 2017 . Payment under these guarantees is considered remote. DTE Energy is 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 December 31, 2017 , DTE Energy had approximately $58 million of performance bonds outstanding. In the event that such bonds are called for nonperformance, DTE Energy would be obligated to reimburse the issuer of the performance bond. DTE Energy is 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 5,000 represented employees, including DTE Electric's approximate 2,700 represented employees. The majority of the represented employees are under contracts that expire in 2020 and 2021 . Purchase Commitments As of December 31, 2017 , the Registrants were party to numerous long-term purchase commitments relating to a variety of goods and services required for their businesses. These agreements primarily consist of fuel supply commitments and renewable energy contracts for the Registrants, as well as energy trading contracts for DTE Energy. The Registrants estimate the following commitments from 2018 through 2051 for DTE Energy, and 2018 through 2033 for DTE Electric, as detailed in the following table: DTE Energy DTE Electric (In millions) 2018 $ 2,731 $ 930 2019 1,045 320 2020 638 192 2021 474 149 2022 371 88 2023 and thereafter 2,277 820 $ 7,536 $ 2,499 Utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees will be approximately $3.6 billion and $1.9 billion in 2018 for DTE Energy and DTE Electric, respectively. The Registrants have made certain commitments in connection with the estimated 2018 annual capital expenditures and contributions to equity method investees. 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 9 and 13 to the Consolidated Financial Statements, " Regulatory Matters " and " Financial and Other Derivative Instruments ," respectively. |
Nuclear Operations
Nuclear Operations | 12 Months Ended |
Dec. 31, 2017 | |
Nuclear Operations [Abstract] | |
Nuclear Operations | NUCLEAR OPERATIONS Property Insurance DTE Electric maintains property insurance policies specifically for the Fermi 2 plant. These policies cover such items as replacement power and property damage. NEIL is the primary supplier of the insurance policies. DTE Electric maintains a policy for extra expenses, including replacement power costs necessitated by Fermi 2’s unavailability due to an insured event. This policy has a 12-week waiting period and provides an aggregate $490 million of coverage over a three -year period. DTE Electric has $1.5 billion in primary coverage and $1.25 billion of excess coverage for stabilization, decontamination, debris removal, repair and/or replacement of property, and decommissioning. The combined coverage limit for total property damage is $2.75 billion . The total limit for property damage for non-nuclear events is $2 billion and an aggregate of $328 million of coverage for extra expenses over a two -year period. On January 13, 2015, the Terrorism Risk Insurance Program Reauthorization Act of 2015 was signed, extending TRIA through December 31, 2020. For multiple terrorism losses caused by acts of terrorism not covered under the TRIA occurring within one year after the first loss from terrorism, the NEIL policies would make available to all insured entities up to $3.2 billion , plus any amounts recovered from reinsurance, government indemnity, or other sources to cover losses. Under NEIL policies, DTE Electric could be liable for maximum assessments of up to approximately $47 million per event if the loss associated with any one event at any nuclear plant should exceed the accumulated funds available to NEIL. Public Liability Insurance As required by federal law, DTE Electric maintains $450 million of public liability insurance for a nuclear incident. For liabilities arising from a terrorist act outside the scope of TRIA, the policy is subject to one industry aggregate limit of $300 million . Further, under the Price-Anderson Amendments Act of 2005, deferred premium charges up to $127 million could be levied against each licensed nuclear facility, but not more than $19 million per year per facility. Thus, deferred premium charges could be levied against all owners of licensed nuclear facilities in the event of a nuclear incident at any of these facilities. Nuclear Fuel Disposal Costs In accordance with the Federal Nuclear Waste Policy Act of 1982, DTE Electric has a contract with the DOE for the future storage and disposal of spent nuclear fuel from Fermi 2 that required DTE Electric to pay the DOE a fee of 1 mill per kWh of Fermi 2 electricity generated and sold. The fee was a component of nuclear fuel expense. The 1 mill per kWh DOE fee was reduced to zero effective May 16, 2014. The DOE's Yucca Mountain Nuclear Waste Repository program for the acceptance and disposal of spent nuclear fuel was terminated in 2011. DTE Electric is a party in the litigation against the DOE for both past and future costs associated with the DOE's failure to accept spent nuclear fuel under the timetable set forth in the Federal Nuclear Waste Policy Act of 1982. In July 2012, DTE Electric executed a settlement agreement with the federal government for costs associated with the DOE's delay in acceptance of spent nuclear fuel from Fermi 2 for permanent storage. The settlement agreement, including extensions, provides for a claims process and payment of delay-related costs experienced by DTE Electric through 2019. DTE Electric's claims are being settled and paid on a timely basis. The settlement proceeds reduce the cost of the dry cask storage facility assets and provide reimbursement for related operating expenses. DTE Electric currently employs a spent nuclear fuel storage strategy utilizing a fuel pool and a dry cask storage facility. The spent nuclear fuel storage strategy is expected to provide sufficient spent fuel storage capability for the life of the plant as defined by the original operating license. The federal government continues to maintain its legal obligation to accept spent nuclear fuel from Fermi 2 for permanent storage. Issues relating to long-term waste disposal policy and to the disposition of funds contributed by DTE Electric ratepayers to the federal waste fund await future governmental action. |
Retirement Benefits and Trustee
Retirement Benefits and Trusteed Assets | 12 Months Ended |
Dec. 31, 2017 | |
Defined Benefit Plan [Abstract] | |
Retirement Benefits and Trusteed Assets | RETIREMENT BENEFITS AND TRUSTEED ASSETS DTE Energy's subsidiary, DTE Energy Corporate Services, LLC (LLC), sponsors defined benefit pension plans and other postretirement plans covering substantially all employees of the Registrants. The table below represents the pension and other postretirement benefit plans which employees of each Registrant participated at December 31, 2017 : Registrants DTE Energy DTE Electric Qualified Pension Plans DTE Energy Company Retirement Plan X X DTE Gas Company Retirement Plan for Employees Covered by Collective Bargaining Agreements X Shenango Inc. Pension Plan X Nonqualified Pension Plans DTE Energy Company Supplemental Retirement Plan X X DTE Energy Company Executive Supplemental Retirement Plan (a) X X DTE Energy Company Supplemental Severance Benefit Plan X Other Postretirement Benefit Plans The DTE Energy Company Comprehensive Non-Health Welfare Plan X X The DTE Energy Company Comprehensive Retiree Group Health Care Plan X X DTE Supplemental Retiree Benefit Plan X X DTE Energy Company Retiree Reimbursement Arrangement Plan X X _____________________________________ (a) Sponsored by the DTE Energy subsidiary, DTE Energy Holding Company. DTE Electric participates in various plans that provide pension and other postretirement benefits for DTE Energy and its affiliates. The plans are sponsored by the LLC. DTE Electric accounts for its participation in DTE Energy's qualified and nonqualified 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. Plan participants of all plans are solely DTE Energy and affiliate employees. Pension Plan Benefits DTE Energy has qualified defined benefit retirement plans for eligible represented and non-represented employees. The plans are noncontributory and provide traditional retirement benefits based on the employee's years of benefit service, average final compensation, and age at retirement. In addition, certain represented and non-represented employees are covered under cash balance provisions that determine benefits on annual employer contributions and interest credits. DTE Energy also maintains supplemental nonqualified, noncontributory, retirement benefit plans for selected management employees. These plans provide for benefits that supplement those provided by DTE Energy’s other retirement plans. Net pension cost for DTE Energy includes the following components: 2017 2016 2015 (In millions) Service cost $ 92 $ 92 $ 100 Interest cost 214 219 210 Expected return on plan assets (311 ) (309 ) (296 ) Amortization of: Net actuarial loss 176 164 205 Prior service cost 1 1 — Other — — 2 Net pension cost $ 172 $ 167 $ 221 2017 2016 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial loss $ 27 $ 197 Amortization of net actuarial loss (176 ) (164 ) Prior service cost ( credit) (11 ) 7 Amortization of prior service cost (1 ) (1 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (161 ) $ 39 Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 11 $ 206 Estimated amounts to be amortized from Regulatory assets and Accumulated other comprehensive income (loss) into net periodic benefit cost during next fiscal year Net actuarial loss $ 178 $ 172 Prior service cost $ — $ 1 The following table reconciles the obligations, assets, and funded status of the plans as well as the amounts recognized as prepaid pension cost or pension liability in DTE Energy's Consolidated Statements of Financial Position at December 31: DTE Energy 2017 2016 (In millions) Accumulated benefit obligation, end of year $ 5,149 $ 4,753 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 5,171 $ 4,971 Service cost 92 92 Interest cost 214 219 Plan amendments (11 ) 7 Actuarial loss 391 141 Benefits paid (281 ) (259 ) Projected benefit obligation, end of year $ 5,576 $ 5,171 Change in plan assets Plan assets at fair value, beginning of year $ 4,012 $ 3,832 Actual return on plan assets 674 253 Company contributions 231 186 Benefits paid (281 ) (259 ) Plan assets at fair value, end of year $ 4,636 $ 4,012 Funded status $ (940 ) $ (1,159 ) Amount recorded as: Current liabilities $ (16 ) $ (7 ) Noncurrent liabilities (924 ) (1,152 ) $ (940 ) $ (1,159 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 163 $ 163 Prior service cost 6 8 $ 169 $ 171 Amounts recognized in Regulatory assets (a) Net actuarial loss $ 2,014 $ 2,163 Prior service credit (14 ) (4 ) $ 2,000 $ 2,159 ______________________________________ (a) See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." The Registrants' policy is to fund pension costs by contributing amounts consistent with the provisions of the Pension Protection Act of 2006, and additional amounts when it deems appropriate. The following table provides cash contributions to the qualified pension plans as of December 31: 2017 2016 2015 (In millions) DTE Energy $ 223 $ 179 $ 177 DTE Electric 185 145 145 At the discretion of management, and depending upon financial market conditions, DTE Energy anticipates making up to $200 million in contributions, including $175 million of DTE Electric contributions, to the qualified pension plans in 2018 . DTE Energy's subsidiaries are responsible for their share of qualified and nonqualified pension benefit costs. DTE Electric's allocated portion of pension benefit costs included in capital expenditures and operating and maintenance expense were $136 million for the years ended December 31, 2017 and 2016 , and $176 million for the year ended December 31, 2015 . These amounts include recognized contractual termination benefit charges, curtailment gains, and settlement charges. At December 31, 2017 , the benefits related to DTE Energy's qualified and nonqualified pension plans expected to be paid in each of the next five years and in the aggregate for the five fiscal years thereafter are as follows: (In millions) 2018 $ 299 2019 301 2020 316 2021 317 2022 323 2023-2027 1,692 Total $ 3,248 Assumptions used in determining the projected benefit obligation and net pension costs of DTE Energy are: 2017 2016 2015 Projected benefit obligation Discount rate 3.70% 4.25% 4.50% Rate of compensation increase 4.98% 4.65% 4.65% Net pension costs Discount rate 4.25% 4.50% 4.12% Rate of compensation increase 4.65% 4.65% 4.65% Expected long-term rate of return on plan assets 7.50% 7.75% 7.75% DTE Energy employs a formal process in determining the long-term rate of return for various asset classes. Management reviews historic financial market risks and returns and long-term historic relationships between the asset classes of equities, fixed income, and other assets, consistent with the widely accepted capital market principle that asset classes with higher volatility generate a greater return over the long-term. Current market factors such as inflation, interest rates, asset class risks, and asset class returns are evaluated and considered before long-term capital market assumptions are determined. The long-term portfolio return is also established employing a consistent formal process, with due consideration of diversification, active investment management, and rebalancing. Peer data is reviewed to check for reasonableness. As a result of this process, the Registrants have long-term rate of return assumptions for the pension plans of 7.50% and other postretirement benefit plans of 7.75% for 2018 . The Registrants believe these rates are a reasonable assumption for the long-term rate of return on plan assets for 2018 given the current investment strategy. DTE Energy employs a total return investment approach whereby a mix of equities, fixed income, and other investments are used to maximize the long-term return on plan assets consistent with prudent levels of risk, with consideration given to the liquidity needs of the plan. Risk tolerance is established through consideration of future plan cash flows, plan funded status, and corporate financial considerations. The investment portfolio contains a diversified blend of equity, fixed income, and other investments. Furthermore, equity investments are diversified across U.S. and non-U.S. stocks, growth and value stocks, and large and small market capitalizations. Fixed income securities generally include market duration bonds of companies from diversified industries, mortgage-backed securities, non-U.S. securities, bank loans, and U.S. Treasuries. Pension assets include long duration U.S. government and diversified corporate bonds intended to partially mitigate liability volatility caused by changes in discount rates. Other assets, such as private markets and hedge funds, are used to enhance long-term returns while improving portfolio diversification. Derivatives may be utilized in a risk controlled manner, to potentially increase the portfolio beyond the market value of invested assets and/or reduce portfolio investment risk. Investment risk is measured and monitored on an ongoing basis through annual liability measurements, periodic asset/liability studies, and quarterly investment portfolio reviews. Target allocations for DTE Energy's pension plan assets as of December 31, 2017 are listed below: U.S. Large Capitalization (Cap) Equity Securities 18 % U.S. Small Cap and Mid Cap Equity Securities 5 Non-U.S. Equity Securities 17 Fixed Income Securities 32 Hedge Funds and Similar Investments 20 Private Equity and Other 8 100 % The following tables provide the fair value measurement amounts for DTE Energy's pension plan assets at December 31, 2017 and 2016 (a) : December 31, 2017 December 31, 2016 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total (In millions) DTE Energy asset category: Short-term Investments (c) $ — $ 114 $ — $ 114 $ — $ 22 $ — $ 22 Equity Securities U.S. Large Cap (d) 821 5 — 826 875 5 — 880 U.S. Small Cap and Mid Cap (e) 229 5 — 234 229 3 — 232 Non-U.S. (f) 529 13 280 822 479 18 269 766 Fixed Income Securities (g) 1 1,453 — 1,454 1 1,037 52 1,090 Hedge Funds and Similar Investments (h) 265 — 593 858 231 — 578 809 Private Equity and Other (i) — — 328 328 — — 213 213 Securities Lending (j) (53 ) (13 ) — (66 ) (53 ) (25 ) — (78 ) Securities Lending Collateral (j) 53 13 — 66 53 25 — 78 DTE Energy Total $ 1,845 $ 1,590 $ 1,201 $ 4,636 $ 1,815 $ 1,085 $ 1,112 $ 4,012 _______________________________________ (a) For a description of levels within the fair value hierarchy, see Note 12 to the Consolidated Financial Statements, " Fair Value ." (b) Amounts represent assets valued at NAV as a practical expedient for fair value. (c) This category predominantly represents certain short-term fixed income securities and money market investments that are managed in separate accounts or commingled funds. Pricing for investments in this category are obtained from quoted prices in actively traded markets or valuations from brokers or pricing services. (d) This category represents portfolios of large capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (e) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (f) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as NAV assets. (g) This category includes corporate bonds from diversified industries, U.S. Treasuries, and mortgage-backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as NAV assets. (h) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded mutual funds, commingled funds and limited partnership funds. Pricing for mutual funds in this category is obtained from quoted prices in actively traded markets. Commingled funds or limited partnership funds are classified as NAV assets. (i) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. All pricing for investments in this category are classified as NAV assets. (j) DTE Energy has a securities lending program with a third-party agent. The program allows the agent to lend certain securities from DTE Energy's pension trusts to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. The pension trust holds debt and equity securities directly and indirectly through commingled funds and institutional mutual funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The commingled funds and institutional mutual funds hold exchange-traded equity or debt securities and are valued based on stated NAVs. Non-exchange traded fixed income securities are valued by the trustee based upon quotations available from brokers or pricing services. 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 price source of a given security if the trustee challenges an assigned price and determines that another price source is considered preferable. DTE Energy has obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices. Additionally, DTE Energy selectively corroborates the fair value of securities by comparison of market-based price sources. There were no significant transfers between Level 2 and Level 1 in the years ended December 31, 2017 and 2016 for DTE Energy. Other Postretirement Benefits The Registrants participate in defined benefit plans sponsored by the LLC that provide certain other postretirement health care and life insurance benefits for employees who are eligible for these benefits. The Registrants' policy is to fund certain trusts to meet its other postretirement benefit obligations. Separate qualified VEBA and other benefit trusts exist. DTE Energy did not make any contributions to these trusts during 2017 and does not anticipate making any contributions to the trusts in 2018 . DTE Energy and DTE Electric offer a defined contribution VEBA for eligible represented and non-represented employees, in lieu of defined benefit post-employment health care benefits. The Registrants allocate a fixed amount per year to an account in a defined contribution VEBA for each employee. These accounts are managed either by the Registrant (for non-represented and certain represented groups) or by the Utility Workers of America for Local 223 employees. DTE Energy contributions to the VEBA for these accounts were $8 million in 2017 , $6 million in 2016 , and $5 million in 2015 , including DTE Electric contributions of $3 million in 2017 , 2016 , and 2015 . The Registrants also contribute a fixed amount to a Retiree Reimbursement Account, for certain current and future non-represented and represented retirees, spouses, and surviving spouses when the youngest of the retiree's covered household becomes eligible for Medicare Part A based on age. The amount of the annual allocation to each participant is determined by the employee's retirement date, and increases each year for each eligible participant at the lower of the rate of medical inflation or 2% . Net other postretirement credit for DTE Energy includes the following components: 2017 2016 2015 (In millions) Service cost $ 27 $ 27 $ 34 Interest cost 73 80 81 Expected return on plan assets (130 ) (129 ) (131 ) Amortization of: Net actuarial loss 13 30 43 Prior service credit (14 ) (118 ) (126 ) Other — (1 ) — Net other postretirement credit $ (31 ) $ (111 ) $ (99 ) 2017 2016 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial gain $ (21 ) $ (68 ) Amortization of net actuarial loss (13 ) (30 ) Prior service credit (1 ) — Amortization of prior service credit 14 119 Total recognized in Regulatory assets and Other comprehensive income (loss) $ (21 ) $ 21 Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (52 ) $ (90 ) Estimated amounts to be amortized from Regulatory assets and Accumulated other comprehensive income (loss) into net periodic benefit cost during next fiscal year Net actuarial loss $ 11 $ 16 Prior service credit $ (1 ) $ (14 ) Net other postretirement credit for DTE Electric includes the following components: 2017 2016 2015 (In millions) Service cost $ 20 $ 20 $ 25 Interest cost 56 61 62 Expected return on plan assets (90 ) (90 ) (90 ) Amortization of: Net actuarial loss 8 21 31 Prior service credit (10 ) (89 ) (95 ) Net other postretirement credit $ (16 ) $ (77 ) $ (67 ) 2017 2016 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets Net actuarial (gai n) loss $ 2 $ (59 ) Amortization of net actuarial loss (8 ) (21 ) Amortization of prior service credit 10 89 Total recognized in Regulatory assets $ 4 $ 9 Total recognized in net periodic benefit cost and Regulatory assets $ (12 ) $ (68 ) Estimated amounts to be amortized from Regulatory assets into net periodic benefit cost during next fiscal year Net actuarial loss $ 8 $ 10 Prior service credit $ — $ (10 ) The following table reconciles the obligations, assets, and funded status of the plans including amounts recorded as Accrued postretirement liability in the Registrants' Consolidated Statements of Financial Position at December 31: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Change in accumulated postretirement benefit obligation Accumulated postretirement benefit obligation, beginning of year $ 1,795 $ 1,846 $ 1,373 $ 1,414 Service cost 27 27 20 20 Interest cost 73 80 56 61 Actuarial (gai n) loss 101 (75 ) 84 (62 ) Benefits paid (86 ) (83 ) (63 ) (60 ) Accumulated postretirement benefit obligation, end of year $ 1,910 $ 1,795 $ 1,470 $ 1,373 Change in plan assets Plan assets at fair value, beginning of year $ 1,758 $ 1,617 $ 1,218 $ 1,131 Actual return on plan assets 252 122 172 87 Company contributions — 20 — — Benefits paid (162 ) (1 ) (118 ) — Plan assets at fair value, end of year $ 1,848 $ 1,758 $ 1,272 $ 1,218 Funded status $ (62 ) $ (37 ) $ (198 ) $ (155 ) Amount recorded as: Noncurrent assets $ — $ — $ 113 $ 114 Current liabilities (1 ) (1 ) — — Noncurrent liabilities (61 ) (36 ) (311 ) (269 ) $ (62 ) $ (37 ) $ (198 ) $ (155 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial (gain) loss $ (1 ) $ 12 $ — $ — $ (1 ) $ 12 $ — $ — Amounts recognized in Regulatory assets (a) Net actuarial loss $ 279 $ 300 $ 211 $ 217 Prior service credit (1 ) (14 ) — (10 ) $ 278 $ 286 $ 211 $ 207 ______________________________________ (a) See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." At December 31, 2017 , the benefits expected to be paid, including prescription drug benefits, in each of the next five years and in the aggregate for the five fiscal years thereafter for the Registrants are as follows: DTE Energy DTE Electric (In millions) 2018 $ 94 $ 73 2019 99 77 2020 103 80 2021 105 82 2022 108 84 2023-2027 567 437 Total $ 1,076 $ 833 Assumptions used in determining the accumulated postretirement benefit obligation and net other postretirement benefit costs of the Registrants are: 2017 2016 2015 Accumulated postretirement benefit obligation Discount rate 3.70% 4.25% 4.50% Health care trend rate pre- and post- 65 6.75 / 7.25% 6.50 / 6.75% 6.25 / 6.75% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2030 2028 2027 Other postretirement benefit costs Discount rate 4.25% 4.50% 4.10% Expected long-term rate of return on plan assets 7.75% 8.00% 8.00% Health care trend rate pre- and post- 65 6.50 / 6.75% 6.25 / 6.75% 7.50 / 6.50% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2028 2027 2025 / 2024 A one percentage point increase in health care cost trend rates would have increased the total service cost and interest cost components of benefit costs for DTE Energy by $5 million , including $4 million for DTE Electric, in 2017 and would have increased the accumulated benefit obligation for DTE Energy by $97 million , including $72 million for DTE Electric, at December 31, 2017 . A one percentage point decrease in the health care cost trend rates would have decreased the total service and interest cost components of benefit costs for DTE Energy by $4 million , including $3 million for DTE Electric, in 2017 and would have decreased the accumulated benefit obligation for DTE Energy by $84 million , including $63 million for DTE Electric, at December 31, 2017 . The process used in determining the long-term rate of return for assets and the investment approach for the other postretirement benefit plans is similar to those previously described for the pension plans. Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2017 are listed below: U.S. Large Cap Equity Securities 16 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 20 Fixed Income Securities 26 Hedge Funds and Similar Investments 20 Private Equity and Other 14 100 % The following tables provide the fair value measurement amounts for the Registrants' other postretirement benefit plan assets at December 31, 2017 and 2016 (a) : December 31, 2017 December 31, 2016 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total DTE Energy asset category: (In millions) Short-term Investments (c) $ 13 $ 2 $ — $ 15 $ 39 $ 1 $ — $ 40 Equity Securities U.S. Large Cap (d) 284 — — 284 284 — — 284 U.S. Small Cap and Mid Cap (e) 131 — — 131 156 — — 156 Non-U.S. (f) 288 1 77 366 262 1 61 324 Fixed Income Securities (g) 29 324 130 483 15 299 125 439 Hedge Funds and Similar Investments (h) 116 — 219 335 114 — 224 338 Private Equity and Other (i) — — 234 234 — — 177 177 Securities Lending (j) (39 ) (1 ) — (40 ) (28 ) (3 ) — (31 ) Securities Lending Collateral (j) 39 1 — 40 28 3 — 31 DTE Energy Total $ 861 $ 327 $ 660 $ 1,848 $ 870 $ 301 $ 587 $ 1,758 DTE Electric asset category: Short-term Investments (c) $ 9 $ 1 $ — $ 10 $ 28 $ 1 $ — $ 29 Equity Securities U.S. Large Cap (d) 195 — — 195 195 — — 195 U.S. Small Cap and Mid Cap (e) 91 — — 91 109 — — 109 Non-U.S. (f) 200 1 52 253 182 1 41 224 Fixed Income Securities (g) 20 218 92 330 10 203 90 303 Hedge Funds and Similar Investments (h) 80 — 150 230 80 — 154 234 Private Equity and Other (i) — — 163 163 — — 124 124 Securities Lending (j) (27 ) (1 ) — (28 ) (20 ) (1 ) — (21 ) Securities Lending Collateral (j) 27 1 — 28 20 1 — 21 DTE Electric Total $ 595 $ 220 $ 457 $ 1,272 $ 604 $ 205 $ 409 $ 1,218 _______________________________________ (a) For a description of levels within the fair value hierarchy see Note 12 to the Consolidated Financial Statements, " Fair Value ." (b) Amounts represent assets valued at NAV as a practical expedient for fair value. (c) This category predominantly represents certain short-term fixed income securities and money market investments that are managed in separate accounts or commingled funds. Pricing for investments in this category are obtained from quoted prices in actively traded markets or valuations from brokers or pricing services. (d) This category represents portfolios of large capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (e) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (f) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as NAV assets. (g) This category includes corporate bonds from diversified industries, U.S. Treasuries, bank loans, and mortgage backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as NAV assets. (h) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded mutual funds, commingled funds and limited partnership funds. Pricing for mutual funds in this category is obtained from quoted prices in actively traded markets. Commingled funds and limited partnership funds are classified as NAV assets. (i) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. All investments in this category are classified as NAV assets. (j) The Registrants have a securities lending program with a third-party agent. The program allows the agent to lend certain securities from the Registrants' VEBA trust to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. The DTE Energy Company Master VEBA Trust holds debt and equity securities directly and indirectly through commingled funds and institutional mutual funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The commingled funds and institutional mutual funds hold exchange-traded equity or debt securities and are valued based on NAVs. Non-exchange traded fixed income securities are valued by the trustee based upon quotations available from brokers or pricing services. 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 price source of a given security if the trustee challenges an assigned price and 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. Additionally, the Registrants selectively corroborate the fair values of securities by comparison of market-based price sources. There were no significant transfers between Level 2 and Level 1 in the years ended December 31, 2017 and 2016 for either of the Registrants. Defined Contribution Plans The Registrants also sponsor defined contribution retirement savings plans. Participation in one of these plans is available to substantially all represented and non-represented employees. For substantially all employees, the Registrants match employee contributions up to certain predefined limits based upon eligible compensation and the employee’s contribution rate. Additionally, for eligible represented and non-represented employees who do not participate in the Pension Plans, the Registrants annually contribute an amount equivalent to 4% ( 8% for certain DTE Gas represented employees) of an employee's eligible pay to the employee's defined contribution retirement savings plan. For DTE Energy, the cost of these plans was $57 million , $51 million , and $49 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. For DTE Electric, the cost of these plans was $27 million for the year ended December 31, 2017 , and $23 million for the years ended December 31, 2016 and 2015 . Plan Changes In 2015, certain executive retirement benefit plans were amended to transfer the obligation for benefits as attributed to the LLC. The related plan liabilities were transferred from DTE Electric and DTE Gas to the LLC and DTE Energy. The related Rabbi Trust assets were also transferred to DTE Energy from DTE Electric. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION DTE Energy’s stock incentive program permits the grant of incentive stock options, non-qualifying stock options, stock awards, performance shares, and performance units to employees and members of its Board of Directors. As a result of a stock award, a settlement of an award of performance shares, or by exercise of a participant’s stock option, DTE Energy may deliver common stock from its authorized but unissued common stock and/or from outstanding common stock acquired by or on behalf of DTE Energy in the name of the participant. Key provisions of the stock incentive program are: • Authorized limit is 14,500,000 shares of common stock; • Prohibits the grant of a stock option with an exercise price that is less than the fair market value of DTE Energy’s stock on the date of the grant; and • Imposes the following award limits to a single participant in a single calendar year, (1) options for more than 500,000 shares of common stock; (2) stock awards for more than 150,000 shares of common stock; (3) performance share awards for more than 300,000 shares of common stock (based on the maximum payout under the award); or (4) more than 1,000,000 performance units, which have a face amount of $1.00 each. DTE Energy records compensation expense at fair value over the vesting period for all awards it grants. The following table summarizes the components of stock-based compensation for DTE Energy: 2017 2016 2015 (In millions) Stock-based compensation expense $ 58 $ 61 $ 34 Tax benefit $ 23 $ 24 $ 13 Stock-based compensation cost capitalized in Property, plant, and equipment $ 9 $ 10 $ 5 Stock Options Options are exercisable according to the terms of the individual stock option award agreements and expire ten years after the date of the grant. The option exercise price equals the fair value of the stock on the date that the option was granted. Stock options vest ratably over a three -year period. The following table summarizes DTE Energy's stock option activity for the year ended December 31, 2017 : Number of Options Weighted Average Exercise Price Aggregate Intrinsic Options outstanding and exercisable at December 31, 2016 171,517 $ 41.59 Exercised (65,523 ) $ 39.37 Options outstanding and exercisable at December 31, 2017 105,994 $ 42.95 $ 7 As of December 31, 2017 , the weighted average remaining contractual life for the exercisable shares is 2.05 years. As of December 31, 2017 , all options were vested. No options vested during 2017 . There were no options granted during 2017 , 2016 , or 2015 . The intrinsic value of options exercised for the years ended December 31, 2017 and 2016 was $4 million . The intrinsic value of options for the year ended December 31, 2015 was $7 million . No option expense was recognized for 2017 , 2016 , or 2015 . The number, weighted average exercise price, and weighted average remaining contractual life of DTE Energy options outstanding as of December 31, 2017 were as follows: Range of Exercise Prices Number of Options Weighted Average Weighted Average $ 27.00 — $ 38.00 6,194 $ 27.70 1.16 $ 38.01 — $ 42.00 2,300 $ 41.79 0.15 $ 42.01 — $ 45.00 97,500 $ 43.95 2.15 105,994 $ 42.95 2.05 Restricted Stock Awards Stock awards granted under the plan are restricted for varying periods, generally for three years . Participants have all rights of a shareholder with respect to a stock award, including the right to receive dividends and vote the shares. Prior to vesting in stock awards, the participant: (i) may not sell, transfer, pledge, exchange, or otherwise dispose of shares; (ii) shall not retain custody of the share certificates; and (iii) will deliver to DTE Energy a stock power with respect to each stock award upon request. The stock awards are recorded at cost that approximates fair value on the date of grant. The cost is amortized to compensation expense over the vesting period. Stock award activity for DTE Energy for the years ended December 31 was: 2017 2016 2015 Fair value of awards vested (in millions) $ 10 $ 9 $ 9 Restricted common shares awarded 136,825 145,240 144,300 Weighted average market price of shares awarded $ 99.53 $ 87.28 $ 83.43 Compensation cost charged against income (in millions) $ 11 $ 11 $ 10 The following table summarizes DTE Energy’s restricted stock awards activity for the year ended December 31, 2017 : Restricted Weighted Average Balance at December 31, 2016 385,285 $ 80.10 Grants 136,825 $ 99.53 Forfeitures (11,745 ) $ 90.24 Vested and issued (144,601 ) $ 72.08 Balance at December 31, 2017 365,764 $ 90.26 Performance Share Awards Performance shares awarded under the plan are for a specified number of shares of DTE Energy common stock that entitle the holder to receive a cash payment, shares of DTE Energy common stock, or a combination thereof. The final value of the award is determined by the achievement of certain performance objectives and market conditions. The awards vest at the end of a specified period, usually three years . Awards granted in 2017 , 2016 , and 2015 were primarily deemed to be equity awards. The DTE Energy stock price and number of probable shares attributable to market conditions for such equity awards are fair valued only at the grant date. DTE Energy accounts for performance share awards by accruing compensation expense over the vesting period based on: (i) the number of shares expected to be paid which is based on the probable achievement of performance objectives; and (ii) the closing stock price market value. The settlement of the award is based on the closing price at the settlement date. DTE Energy recorded compensation expense for performance share awards as follows: 2017 2016 2015 (In millions) Compensation expense $ 47 $ 50 $ 24 Cash settlements (a) $ 15 $ 7 $ 13 Stock settlements (a) $ 66 $ 38 $ 71 _______________________________________ (a) Sum of cash and stock settlements approximates the intrinsic value of the awards. During the vesting period, the recipient of a performance share award has no shareholder rights. During the period beginning on the date the performance shares are awarded and ending on the certification date of the performance objectives, the number of performance shares awarded will be increased, assuming full dividend reinvestment at the fair market value on the dividend payment date. The cumulative number of performance shares will be adjusted to determine the final payment based on the performance objectives achieved. Performance share awards are nontransferable and are subject to risk of forfeiture. The following table summarizes DTE Energy’s performance share activity for the period ended December 31, 2017 : Performance Shares Weighted Average Balance at December 31, 2016 1,392,512 $ 79.97 Grants 494,688 $ 98.47 Forfeitures (49,547 ) $ 87.12 Payouts (513,252 ) $ 70.60 Balance at December 31, 2017 1,324,401 $ 90.31 Unrecognized Compensation Costs As of December 31, 2017 , DTE Energy's total unrecognized compensation cost related to non-vested stock incentive plan arrangements and the weighted average recognition period was as follows: Unrecognized Weighted Average (In millions) (In years) Stock awards $ 13 1.12 Performance shares 51 1.11 $ 64 1.11 Allocated Stock-Based Compensation DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation. DTE Electric's allocation for 2017 , 2016 , and 2015 for stock-based compensation expense was approximately $34 million , $38 million , and $21 million , respectively. |
Segment and Related Information
Segment and Related Information | 12 Months Ended |
Dec. 31, 2017 | |
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 2.2 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. Gas Storage and Pipelines consists of natural gas pipeline, gathering, and storage businesses. Power and Industrial Projects is comprised primarily of projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers, produce reduced emissions fuel, and sell electricity from renewable energy projects. Energy Trading consists of energy marketing and trading operations. Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds energy-related investments. 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 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. Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider and primarily consists of the sale of reduced emissions fuel, power sales, and natural gas sales in the following segments: Year Ended December 31, 2017 2016 2015 (In millions) Electric $ 48 $ 43 $ 36 Gas 8 9 3 Gas Storage and Pipelines 42 9 8 Power and Industrial Projects 569 602 785 Energy Trading 35 39 32 Corporate and Other 2 2 4 $ 704 $ 704 $ 868 Financial data of DTE Energy's business segments follows: Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2017 Operating Revenues — Utility operations $ 5,102 1,388 — — — — (56 ) $ 6,434 Operating Revenues — Non-utility operations $ — — 453 2,089 4,277 2 (648 ) $ 6,173 Depreciation and amortization $ 753 123 76 72 5 1 — $ 1,030 Interest expense $ 274 65 77 29 5 192 (106 ) $ 536 Interest income $ — (7 ) (14 ) (7 ) (2 ) (88 ) 106 $ (12 ) Equity in earnings of equity method investees $ 1 2 90 9 — — — $ 102 Income Tax Expense (Benefit) (a) $ 321 78 (30 ) (195 ) 49 (48 ) — $ 175 Net Income (Loss) Attributable to DTE Energy Company $ 606 146 275 138 72 (103 ) — $ 1,134 Investment in equity method investees $ 7 11 879 150 — 26 — $ 1,073 Capital expenditures and acquisitions $ 1,574 463 137 56 7 13 — $ 2,250 Goodwill $ 1,208 743 299 26 17 — — $ 2,293 Total Assets $ 21,163 5,072 2,594 593 725 5,324 (1,704 ) $ 33,767 _____________________________________ (a) Includes Income Tax Expense (Benefit) of $(5) million , $(115) million , $(21) million , $2 million , and $34 million for Electric — non-utility, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other, respectively, related to the enactment of the TCJA. Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2016 Operating Revenues — Utility operations $ 5,225 1,324 — — — — (52 ) $ 6,497 Operating Revenues — Non-utility operations $ — — 302 1,906 2,575 2 (652 ) $ 4,133 Depreciation and amortization $ 750 106 45 72 3 — — $ 976 Interest expense $ 264 60 39 32 6 148 (77 ) $ 472 Interest income $ (8 ) (6 ) (9 ) (8 ) (1 ) (65 ) 77 $ (20 ) Equity in earnings of equity method investees $ 2 6 60 — — — — $ 68 Income Tax Expense (Benefit) $ 353 77 71 (140 ) (29 ) (61 ) — $ 271 Net Income (Loss) Attributable to DTE Energy Company $ 622 138 119 95 (45 ) (61 ) — $ 868 Investment in equity method investees $ 11 10 538 166 — 27 — $ 752 Capital expenditures and acquisitions $ 1,503 395 1,322 39 7 3 — $ 3,269 Goodwill $ 1,208 743 292 26 17 — — $ 2,286 Total Assets $ 20,417 4,729 2,417 683 660 4,648 (1,513 ) $ 32,041 Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2015 Operating Revenues — Utility operations $ 4,901 1,376 — — — — (39 ) $ 6,238 Operating Revenues — Non-utility operations $ — — 243 2,224 2,459 2 (829 ) $ 4,099 Depreciation and amortization $ 637 104 30 78 2 1 — $ 852 Interest expense $ 258 62 24 32 6 132 (64 ) $ 450 Interest income $ — (7 ) (8 ) (8 ) (2 ) (52 ) 64 $ (13 ) Equity in earnings of equity method investees $ 2 6 47 8 — 3 — $ 66 Income Tax Expense (Benefit) $ 290 72 70 (140 ) (15 ) (47 ) — $ 230 Net Income (Loss) Attributable to DTE Energy Company $ 542 132 107 16 (22 ) (48 ) — $ 727 Investment in equity method investees $ 10 9 296 183 — 16 — $ 514 Capital expenditures and acquisitions $ 1,785 273 161 36 6 — — $ 2,261 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 19,503 4,294 1,047 860 590 3,496 (1,128 ) $ 28,662 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS DTE Electric has agreements with affiliated companies to sell energy for resale, purchase fuel and power, provide fuel supply services, and provide power plant operation and maintenance services. DTE Electric has agreements with certain DTE Energy affiliates where DTE Electric charges the affiliates for their use of the shared capital assets of DTE Electric. A shared services company accumulates various corporate support services expenses and charges various subsidiaries of DTE Energy, including DTE Electric. DTE Electric records federal, state, and local income taxes payable to or receivable from DTE Energy based on its federal, state, and local tax provisions. The following is a summary of DTE Electric's transactions with affiliated companies: 2017 2016 2015 (In millions) Revenues Energy sales $ 9 $ 10 $ 2 Other services $ (4 ) $ (1 ) $ 6 Shared capital assets $ 39 $ 33 $ 33 Costs Fuel and purchased power $ 6 $ 10 $ 9 Other services and interest $ (2 ) $ (1 ) $ 2 Corporate expenses, net $ 370 $ 370 $ 334 Other Dividends declared $ 432 $ 420 $ 395 Dividends paid $ 432 $ 420 $ 395 Capital contribution from DTE Energy $ 100 $ 120 $ 300 DTE Electric's Accounts receivable and Accounts payable related to Affiliates are payable upon demand and are generally settled in cash within a monthly business cycle. Notes receivable and Short-term borrowings related to Affiliates are subject to a credit agreement with DTE Energy whereby short-term excess cash or cash shortfalls are remitted to or funded by DTE Energy. This credit arrangement involves the charge and payment of interest at market-based rates. Refer to DTE Electric's Consolidated Statements of Financial Position for affiliate balances at December 31, 2017 and 2016 . DTE Electric's charitable contributions to the DTE Energy Foundation was $7 million for the the year ended December 31, 2017 . There were no contributions by DTE Electric to the DTE Energy Foundation for the years ended December 31, 2016 and 2015 . The DTE Energy Foundation is a non-consolidated not-for-profit private foundation, the purpose of which is to contribute and assist charitable organizations. See the following notes for other related party transactions impacting DTE Electric’s Consolidated Financial Statements: Note Title 20 Retirement Benefits and Trusteed Assets 21 Stock-Based Compensation |
Supplementary Quarterly Financi
Supplementary Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Supplementary Quarterly Financial Information (Unaudited) | SUPPLEMENTARY QUARTERLY FINANCIAL INFORMATION (UNAUDITED) DTE Energy Quarterly earnings per share may not equal full year totals, since quarterly computations are based on weighted average common shares outstanding during each quarter. First Second Third Fourth Year (In millions, except per share amounts) 2017 Operating Revenues $ 3,236 $ 2,855 $ 3,245 $ 3,271 $ 12,607 Operating Income $ 569 $ 303 $ 418 $ 356 $ 1,646 Net Income Attributable to DTE Energy Company (a) $ 400 $ 177 $ 270 $ 287 $ 1,134 Basic Earnings per Share $ 2.23 $ 0.99 $ 1.51 $ 1.60 $ 6.32 Diluted Earnings per Share $ 2.23 $ 0.99 $ 1.51 $ 1.60 $ 6.32 2016 Operating Revenues $ 2,566 $ 2,262 $ 2,928 $ 2,874 $ 10,630 Operating Income $ 381 $ 256 $ 507 $ 301 $ 1,445 Net Income Attributable to DTE Energy Company $ 247 $ 152 $ 338 $ 131 $ 868 Basic Earnings per Share $ 1.38 $ 0.84 $ 1.88 $ 0.73 $ 4.84 Diluted Earnings per Share $ 1.37 $ 0.84 $ 1.88 $ 0.73 $ 4.83 _____________________________________ (a) Includes a net Income Tax Benefit of $(105) million related to the enactment of the TCJA in the fourth quarter. DTE Electric First Second Third Fourth Year (In millions) 2017 Operating Revenues $ 1,175 $ 1,218 $ 1,434 $ 1,275 $ 5,102 Operating Income $ 217 $ 272 $ 395 $ 281 $ 1,165 Net Income $ 106 $ 138 $ 219 $ 138 $ 601 2016 Operating Revenues $ 1,153 $ 1,215 $ 1,608 $ 1,249 $ 5,225 Operating Income $ 245 $ 265 $ 501 $ 193 $ 1,204 Net Income $ 127 $ 135 $ 285 $ 75 $ 622 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2017 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule II - Valuation and Qualifying Accounts | DTE Energy Company Schedule II — Valuation and Qualifying Accounts Year Ending December 31, 2017 2016 2015 (In millions) Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Energy's Consolidated Statements of Financial Position) Balance at Beginning of Period $ 41 $ 49 $ 54 Additions: Charged to costs and expenses 80 78 93 Charged to other accounts (a) 26 18 14 Deductions (b) (98 ) (104 ) (112 ) Balance at End of Period $ 49 $ 41 $ 49 _______________________________________ (a) Collection of accounts previously written off. (b) Uncollectible accounts written off. DTE Electric Company Schedule II — Valuation and Qualifying Accounts Year Ending December 31, 2017 2016 2015 (In millions) Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Electric's Consolidated Statements of Financial Position) Balance at Beginning of Period $ 25 $ 28 $ 29 Additions: Charged to costs and expenses 55 49 51 Charged to other accounts (a) 14 8 6 Deductions (b) (63 ) (60 ) (58 ) Balance at End of Period $ 31 $ 25 $ 28 _______________________________________ (a) Collection of accounts previously written off. (b) Uncollectible accounts written off. |
Significant Accounting Polici34
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation 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 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. |
Reclassification | Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation. |
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 cost method is used. 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 DTE Energy's Power and Industrial Projects 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 accounted for under the equity method. DTE Energy owns a 55% interest in SGG, which owns and operates midstream natural gas assets. SGG has contracts through which certain construction risk is designed to pass-through to the customers, with DTE Energy retaining operational and customer default risk. SGG is a VIE with DTE Energy as the primary beneficiary. See Note 4 to the Consolidated Financial Statements, " Acquisitions and Exit Activities ," for more information. The Registrants hold variable interests in NEXUS, including a 50% ownership interest. NEXUS is a joint venture which is in the process of constructing a 255-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers. NEXUS is a VIE as it has insufficient equity at risk to finance its activities. The Registrants are not the primary beneficiaries, as the power to direct significant activities is shared between the owners of the equity interests. DTE Energy accounts for NEXUS 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, as well as, 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 December 31, 2017 , 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 December 31, 2017 , 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 significant 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 significant potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts. The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position and in Note 18 to the Consolidated Financial Statements, " Commitments and Contingencies ," related to the REF guarantees and indemnities. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, future funding commitments, and amounts which DTE Energy has guaranteed. See Note 18 to the Consolidated Financial Statements, " Commitments and Contingencies ," for further discussion of the NEXUS guarantee arrangements. |
Revenues | Revenues The Registrants' revenues from the sale and delivery of electricity, and DTE Energy's revenues from the sale, delivery, and storage of natural gas are recognized as services are provided. DTE Electric and DTE Gas record revenues for electricity and gas provided but unbilled at the end of each month. Rates for DTE Electric and DTE Gas include provisions to adjust billings for fluctuations in fuel and purchased power costs, cost of natural gas, and certain other costs. Revenues are adjusted for differences between actual costs subject to reconciliation and the amounts billed in current rates. Under or over recovered revenues related to these cost recovery mechanisms are included in Regulatory assets or liabilities on the Registrants' Consolidated Statements of Financial Position and are recovered or returned to customers through adjustments to the billing factors. For further discussion of recovery mechanisms authorized by the MPSC, see Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." DTE Energy's non-utility businesses recognize revenues as services are provided and products are delivered. |
Other Income | Other Income Other income for the Registrants is recognized for non-operating income such as equity earnings of equity method investees, allowance for equity funds used during construction, contract services, and gains (losses) from trading securities. DTE Energy's Power and Industrial Projects segment also recognizes Other income in connection with the sale of membership interests in reduced emissions fuel facilities to investors. In exchange for the cash received, the investors will receive a portion of the economic attributes of the facilities, including income tax attributes. The transactions are not treated as a sale of membership interests for financial reporting purposes. Other income is considered earned when refined coal is produced and tax credits are generated. |
Accounting for ISO Transactions | Accounting for ISO Transactions DTE Electric participates in the energy market through MISO. MISO requires that DTE Electric submit hourly day-ahead, real-time, and FTR bids and offers for energy at locations across the MISO region. DTE Electric accounts for MISO transactions on a net hourly basis in each of the day-ahead, real-time, and FTR markets and net transactions across all MISO energy market locations. In any single hour DTE Electric records net purchases in Fuel, purchased power, and gas — utility and net sales in Operating Revenues — Utility operations on the Registrants' Consolidated Statements of Operations. The Energy Trading segment participates in the energy markets through various ISOs and RTOs. These markets require that Energy Trading submits hourly day-ahead, real-time bids and offers for energy at locations across each region. Energy Trading submits bids in the annual and monthly auction revenue rights and FTR auctions to the RTOs. Energy Trading accounts for these transactions on a net hourly basis for the day-ahead, real-time, and FTR markets. These transactions are related to trading contracts which, if derivatives, are presented on a net basis in Operating Revenues — Non-utility operations, and if non-derivatives, the realized gains and losses for sales are recorded in Operating Revenues — Non-utility operations and purchases are recorded in Fuel, purchased power, and gas — non-utility in the DTE Energy Consolidated Statements of Operations. DTE Electric and Energy Trading record accruals for future net purchases adjustments based on historical experience, and reconcile accruals to actual costs when invoices are received from MISO and other ISOs and RTOs. |
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 the Registrants include unrealized gains and losses on available-for-sale securities and changes in benefit obligations, consisting of deferred actuarial losses and prior service costs. The amounts recorded to Accumulated other comprehensive income (loss) relating solely to DTE Energy also include unrealized gains and losses from derivatives accounted for as cash flow hedges, DTE Energy's interest in other comprehensive income of equity investees which comprise the net unrealized gains and losses on investments, and foreign currency translation adjustments. |
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 consists of funds held to satisfy requirements of certain debt and DTE Energy partnership operating agreements. Restricted cash designated for interest and principal payments within one year is classified as a Current Asset. |
Receivables and Notes Receivable | Receivables Accounts receivable are primarily composed of trade receivables and unbilled revenue. The Registrants' Accounts receivable are stated at net realizable value. The allowance for doubtful accounts for DTE Electric and DTE Gas is generally calculated using the 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 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 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 DTE Energy's other businesses is calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. DTE Energy unbilled revenues of $1 billion and $814 million , including $290 million and $267 million of DTE Electric unbilled revenues, are included in Customer Accounts receivable at December 31, 2017 and 2016 , respectively. Notes Receivable Notes receivable, or financing receivables, for DTE Energy are primarily comprised of capital lease receivables and loans and are included in Notes receivable and Other current assets on DTE Energy’s Consolidated Statements of Financial Position. Notes receivable, or financing receivables, 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. Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current. 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. In addition, the Registrants monitor the credit ratings of the counterparties from which they have notes receivable. |
Inventories | Inventories Inventory related to utility operations is generally valued at average cost. Inventory related to non-utility operations is valued at the lower of cost or net realizable value. |
Property, Retirement and Maintenance, and Depreciation and Amortization | Property, Retirement and Maintenance, and Depreciation and Amortization Property is stated at cost and includes construction-related labor, materials, overheads, and AFUDC for utility property. The cost of utility properties retired is charged to accumulated depreciation. Expenditures for maintenance and repairs are charged to expense when incurred, except for outage-related maintenance repairs for Fermi 2. Utility property at DTE Electric and DTE Gas is depreciated over its estimated useful life using straight-line rates approved by the MPSC. DTE Energy's non-utility property is depreciated over its estimated useful life using the straight-line method. Depreciation and amortization expense also includes the amortization of certain regulatory assets for the Registrants. Approximately $15 million and $27 million of expenses related to Fermi 2 refueling outages were accrued at December 31, 2017 and 2016 , respectively. Amounts are accrued on a pro-rata basis, generally over an 18 -month period, that coincides with scheduled refueling outages at Fermi 2. This accrual of outage costs matches the regulatory recovery of these costs in rates set by the MPSC. See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." The cost of nuclear fuel is capitalized. The amortization of nuclear fuel is included within Fuel, purchased power, and gas — utility in the DTE Energy Consolidated Statements of Operations, and Fuel and purchased power in the DTE Electric Consolidated Statements of Operations, and is recorded using the units-of-production method. Capitalized software costs are classified as Property, plant, and equipment and the related amortization is included in accumulated depreciation and amortization on the Registrants' Consolidated Financial Statements. The Registrants capitalize the costs associated with computer software developed or obtained for use in their businesses. The Registrants amortize capitalized software costs on a straight-line basis over the expected period of benefit, ranging from 3 to 15 years for DTE Energy and 4 to 15 years for DTE Electric. |
Long-Lived Assets | Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds the expected undiscounted future cash flows generated by the asset, an impairment loss is recognized resulting in the asset being written down to its estimated fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. |
Intangible Assets | DTE Energy amortizes customer relationship and contract intangible assets on a straight-line basis over the expected period of benefit. |
Excise and Sales Taxes and Income Taxes | Excise and Sales Taxes The Registrants record the billing of excise and sales taxes as a receivable with an offsetting payable to the applicable taxing authority, with no net impact on the Registrants’ Consolidated Statements of Operations. Deferred tax assets and liabilities are recognized for the estimated future tax effect of temporary differences between the tax basis of assets or liabilities and the reported amounts in the Consolidated Financial Statements. Consistent with the original establishment of these deferred tax liabilities (assets), no recognition of these non-cash transactions have been reflected in the Consolidated Statements of Cash Flows. 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 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. |
Deferred Debt Costs | Deferred Debt Costs The costs related to the issuance of long-term debt are deferred and amortized over the life of each debt issue. The deferred amounts are included as a direct deduction from the carrying amount of each debt issue in Mortgage bonds, notes, and other and Junior subordinated debentures on DTE Energy's Consolidated Statements of Financial Position and in Mortgage bonds, notes, and other on DTE Electric's Consolidated Statements of Financial Position. In accordance with MPSC regulations applicable to DTE Energy’s electric and gas utilities, the unamortized discount, premium, and expense related to utility debt redeemed with a refinancing are amortized over the life of the replacement issue. Discount, premium, and expense on early redemptions of debt associated with DTE Energy's non-utility operations are charged to earnings. |
Investments in Debt and Equity Securities | Investments in Debt and Equity Securities The Registrants generally classify investments in debt and equity securities as either trading or available-for-sale and have recorded such investments at market value with unrealized gains or losses included in earnings or in Other comprehensive income or loss, respectively. Changes in the fair value of Fermi 2 nuclear decommissioning investments are recorded as adjustments to Regulatory assets or liabilities, due to a recovery mechanism from customers. The Registrants' equity investments are reviewed for impairment each reporting period. If the assessment indicates that the impairment is other than temporary, a loss is recognized resulting in the equity investment being written down to its estimated fair value. |
Government Grants | Government Grants Grants are recognized when there is reasonable assurance that the grant will be received and that any conditions associated with the grant will be met. When grants are received related to Property, plant, and equipment, the Registrants reduce the cost of the assets on their Consolidated Statements of Financial Position, resulting in lower depreciation expense over the life of the associated asset. Grants received related to expenses are reflected as a reduction of the associated expense in the period in which the expense is incurred. |
DTE Energy Foundation | DTE Energy Foundation DTE Energy's charitable contributions to the DTE Energy Foundation were $43 million , $26 million , and $12 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. The DTE Energy Foundation is a non-consolidated not-for-profit private foundation, the purpose of which is to contribute to and assist charitable organizations. |
New Accounting Pronouncements | NEW ACCOUNTING PRONOUNCEMENTS Recently Issued Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), as amended . The objectives of this ASU are to improve upon revenue recognition requirements by providing a single comprehensive model to determine the measurement of revenue and timing of recognition. The core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. This ASU also requires expanded qualitative and quantitative disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. The standard is to be applied retrospectively. The Registrants will adopt the standard effective January 1, 2018 using the modified retrospective approach. The Registrants have substantially completed the assessment of the amended ASU's impact, on their Consolidated Financial Statements. The ASU will not significantly affect the Registrants' financial position or results of operations. The Registrants will continue to monitor the impact of the ASU on existing revenue recognition internal controls, policies, and procedures. Industry-related issues being vetted through the final stages of the American Institute of Certified Public Accountants' Power and Utilities Industry Task Force process, which are not expected to have a significant impact on the Registrants, will continue to be monitored. The ASU will result in additional disclosures for revenue compared to the current guidance. Accordingly, the Registrants are evaluating information that would be useful for users of the Consolidated Financial Statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), a replacement of Leases (Topic 840) . This guidance requires a lessee to account for leases as finance or operating leases, and include disclosure of key information about leasing arrangements. Both types of leases will result in the lessee recognizing a right-of-use asset and a corresponding lease liability on its balance sheet, with differing methodology for income statement recognition. For lessors, the standard modifies the classification criteria and the accounting for sales-type and direct financing leases. Entities will classify leases to determine how to recognize lease-related revenue and expense. This standard is effective for public entities for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. The Registrants do not plan to early adopt the standard. A modified retrospective approach is required for leases existing or entered into after the beginning of the earliest comparative period in the Consolidated Financial Statements, with certain practical expedients permitted. The Registrants expect an increase in assets and liabilities, as well as additional disclosures, however, they are currently assessing the impact of this ASU on their Consolidated Financial Statements. This assessment includes monitoring unresolved utility industry implementation guidance. The Registrants have conducted outreach activities across their lines of business and have begun implementation of a third-party software tool that will assist with the initial adoption and ongoing compliance. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The amendments in this update replace the incurred loss impairment methodology in current generally accepted accounting principles with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Entities will apply the new guidance as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The ASU is effective for the Registrants beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The amendments in this update require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside income from operations. The amendments in this update also allow only the service cost component to be eligible for capitalization when applicable. The standard will be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. The ASU is effective for the Registrants for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted. The Registrants will adopt the standard effective January 1, 2018. The components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits are disclosed in Note 20 to the Consolidated Financial Statements, " Retirement Benefits and Trusteed Assets ." The ASU will not have a significant impact on the Registrants' Consolidated Financial Statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJA. The amendments in this update also require entities to disclose their accounting policy for releasing income tax effects from accumulated other comprehensive income. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2018, and interim periods therein. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements. |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS DTE Electric has a legal retirement obligation for the decommissioning costs for its Fermi 1 and Fermi 2 nuclear plants, dismantlement of facilities located on leased property, and various other operations. DTE Electric has conditional retirement obligations for asbestos and PCB removal at certain of its power plants and various distribution equipment. DTE Gas has conditional retirement obligations for gas pipelines, certain service centers, compressor and gate stations. The Registrants recognize such obligations as liabilities at fair market value when they are incurred, which generally is at the time the associated assets are placed in service. Fair value is measured using expected future cash outflows discounted at the Registrants' credit-adjusted risk-free rate. For its utility operations, the Registrants recognize in the Consolidated Statements of Operations removal costs in accordance with regulatory treatment. Any differences between costs recognized related to asset retirement and those reflected in rates are recognized as either a Regulatory asset or liability on the Consolidated Statements of Financial Position. If a reasonable estimate of fair value cannot be made in the period in which the retirement obligation is incurred, such as for assets with indeterminate lives, the liability is recognized when a reasonable estimate of fair value can be made. Natural gas storage system and certain other distribution assets for DTE Gas and substations, manholes, and certain other distribution assets for DTE Electric have an indeterminate life. Therefore, no liability has been recorded for these assets. |
Regulatory Assets and Liabilities | Regulatory Assets and Liabilities DTE Electric and DTE Gas are required to record Regulatory assets and liabilities for certain transactions that would have been treated as revenue or expense in non-regulated businesses. Continued applicability of regulatory accounting treatment requires that rates be designed to recover specific costs of providing regulated services and be charged to and collected from customers. Future regulatory changes or changes in the competitive environment could result in the discontinuance of this accounting treatment for Regulatory assets and liabilities for some or all of the Registrants' businesses and may require the write-off of the portion of any Regulatory asset or liability that was no longer probable of recovery through regulated rates. Management believes that currently available facts support the continued use of Regulatory assets and liabilities and that all Regulatory assets and liabilities are recoverable or refundable in the current regulatory environment. |
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 December 31, 2017 and 2016 . 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 Trust 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 institutional mutual funds and commingled funds. Other assets such as private market investments are used to enhance long-term returns while improving portfolio diversification. All pricing for investments in this category are classified as NAV assets. Exchange-traded debt and equity securities held directly 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. The institutional mutual funds hold exchange-traded equity or debt securities (exchange and non-exchange traded) and are valued based on publicly available NAVs. 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 price 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. Additionally, the Registrants selectively corroborate the fair value of securities by comparison of market-based price sources. Investment policies and procedures are determined by DTE Energy's Trust Investments Department which reports to DTE Energy's Vice President and Treasurer. |
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. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value of financial instruments included in the table below is determined by using quoted market prices when available. When quoted prices are not available, pricing services may be used to determine the fair value with reference to observable interest rate indexes. The Registrants have obtained an understanding of how the fair values are derived. The Registrants also selectively corroborate the fair value of their transactions by comparison of market-based price sources. Discounted cash flow analyses based upon estimated current borrowing rates are also used to determine fair value when quoted market prices are not available. The fair values of notes receivable, excluding capital leases, and notes payable are generally estimated using discounted cash flow techniques that incorporate market interest rates as well as assumptions about the remaining life of the loans and credit risk. Depending on the information available, other valuation techniques may be used that rely on internal assumptions and models. Valuation policies and procedures for the Registrants are determined by DTE Energy's Treasury Department which reports to DTE Energy's Vice President and Treasurer and DTE Energy's Controller's Department which reports to DTE Energy's Vice President, Controller, and Chief Accounting Officer. |
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 portion of the derivative gain or loss that is effective in offsetting the change in the value of the underlying exposure is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. Gains or losses from the ineffective portion of cash flow hedges are recognized in earnings immediately. 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 coal forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas inventory, pipeline transportation contracts, renewable energy credits, and natural gas storage assets. DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward energy 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 sells storage and transportation capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2020. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. DTE Gas may also sell forward transportation and storage capacity contracts. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method. Gas Storage and Pipelines — This segment is primarily engaged in services related to the gathering, transportation, and storage of natural gas. Primarily fixed-priced contracts are used in the marketing and management of transportation and storage services. Generally, these contracts are not derivatives and are therefore accounted for under the accrual method. Power and Industrial Projects — This segment manages and operates energy and pulverized coal projects, a coke battery, reduced emissions fuel projects, landfill gas recovery, and power generation assets. Primarily fixed-price contracts are used in the marketing and management of the segment assets. These contracts 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 December 31, 2017 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 issued letters of credit of approximately $4 million and $2 million outstanding at December 31, 2017 and 2016 , respectively, 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 $4 million and $2 million at December 31, 2017 and 2016 , 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, and gas — non-utility. |
Stock-Based Compensation | DTE Energy records compensation expense at fair value over the vesting period for all awards it grants. |
Organization and Basis of Pre35
Organization and Basis of Presentation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | |
Schedule of Variable Interest Entities | The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of December 31, 2017 and 2016 . 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. December 31, 2017 December 31, 2016 SGG (a) Other Total SGG (a) Other Total (In millions) ASSETS Cash and cash equivalents $ 23 $ 14 $ 37 $ 36 $ 27 $ 63 Restricted cash — 8 8 — 7 7 Accounts receivable 11 42 53 8 34 42 Inventories 3 114 117 3 112 115 Property, plant, and equipment, net 400 75 475 398 76 474 Goodwill 25 — 25 17 — 17 Intangible assets 572 — 572 586 — 586 Other current and long-term assets 4 — 4 1 1 2 $ 1,038 $ 253 $ 1,291 $ 1,049 $ 257 $ 1,306 LIABILITIES Accounts payable and accrued current liabilities $ 26 $ 47 $ 73 $ 19 $ 32 $ 51 Current portion long-term debt, including capital leases — 4 4 — 5 5 Mortgage bonds, notes, and other — 1 1 — 5 5 Other current and long-term liabilities 1 16 17 2 15 17 $ 27 $ 68 $ 95 $ 21 $ 57 $ 78 _____________________________________ (a) Amounts shown are 100% of SGG's assets and liabilities, of which DTE Energy owns 55% . |
Summary of Amounts For Nonconsolidated Variable Interest Entities | Amounts for DTE Energy's non-consolidated VIEs are as follows: December 31, 2017 December 31, 2016 (In millions) Investments in equity method investees $ 811 $ 509 Notes receivable $ 17 $ 15 Future funding commitments $ 598 $ 692 |
Equity Method Investments | DTE Energy equity method investees are described below: Investments % Owned Segment 2017 2016 2017 2016 Description (In millions) Significant Equity Method Investees Gas Storage and Pipelines NEXUS Pipeline $ 640 $ 322 50% 50% A 255-mile pipeline under construction to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers Vector Pipeline 115 100 40% 40% 348-mile pipeline connecting Chicago, Michigan, and Ontario market centers Millennium Pipeline 124 116 26% 26% 251-mile pipeline serving markets in the Northeast 879 538 Other Equity Method Investees Other Segments 194 214 $ 1,073 $ 752 |
Significant Accounting Polici36
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Schedule of Other Income | The following is a summary of DTE Energy's Other income: 2017 2016 2015 (In millions) Equity earnings of equity method investees $ 102 $ 68 $ 66 Income from REF entities 77 75 83 Gains from trading securities 26 15 1 Allowance for equity funds used during construction 23 21 21 Contract services 19 21 27 Other 21 7 11 $ 268 $ 207 $ 209 The following is a summary of DTE Electric's Other income: 2017 2016 2015 (In millions) Gains from trading securities allocated from DTE Energy $ 26 $ 15 $ 1 Contract services 21 20 27 Allowance for equity funds used during construction 18 18 20 Equity earnings of equity method investees 1 2 2 Other 11 6 10 $ 77 $ 61 $ 60 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in DTE Energy's Accumulated other comprehensive income (loss) by component (a) for the years ended December 31, 2017 and 2016 : Net Unrealized Gain (Loss) on Deri vatives Net Unrealized Gain (Loss) on Investments Benefit Obligations (b) Foreign Currency Translation Total (In millions) Balance, December 31, 2015 $ (4 ) $ (4 ) $ (131 ) $ (6 ) $ (145 ) Other comprehensive loss before reclassifications — — (3 ) — (3 ) Amounts reclassified from Accumulated other comprehensive income — 1 14 — 15 Net current-period Other comprehensive income — 1 11 — 12 Balance, December 31, 2016 $ (4 ) $ (3 ) $ (120 ) $ (6 ) $ (133 ) Other comprehensive income (loss) before reclassi fications — 1 (3 ) 1 (1 ) Amounts reclassified from Accumulated other comprehensive income 1 — 13 — 14 Net current-period Other comprehensive income 1 1 10 1 13 Balance, December 31, 2017 $ (3 ) $ (2 ) $ (110 ) $ (5 ) $ (120 ) ______________________________________ (a) All amounts are net of tax, except for Foreign currency translation. (b) The amounts reclassified from Accumulated other comprehensive income (loss) are included in the computation of the net periodic pension and other postretirement benefit costs (see Note 20 to the Consolidated Financial Statements " Retirement Benefits and Trusteed Assets "). |
Schedule of Finite-Lived Intangible Assets by Major Class | The Registrants have certain Intangible assets as shown below: December 31, 2017 December 31, 2016 Useful Lives Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value (In millions) Intangible assets subject to amortization Customer relationships (a) 40 years (b) $ 770 $ (24 ) $ 746 $ 770 $ (5 ) $ 765 Contract intangibles 6 to 26 years 168 (72 ) 96 111 (65 ) 46 938 (96 ) 842 881 (70 ) 811 DTE Electric renewable energy credits (c) 24 — 24 30 — 30 DTE Electric emission allowances (c) 1 — 1 1 — 1 25 — 25 31 — 31 Long-term intangible assets DTE Electric $ 25 $ — $ 25 $ 31 $ — $ 31 DTE Energy $ 963 $ (96 ) $ 867 $ 912 $ (70 ) $ 842 ______________________________________ (a) In October 2016, DTE Energy acquired midstream natural gas assets that are part of the Gas Storage and Pipelines segment. The intangible assets recorded as a result of the acquisition pertain to existing customer relationships. See Note 4 to the Consolidated Financial Statements, " Acquisitions and Exit Activities ," for additional information. (b) The useful life of the customer relationship intangible assets is based on the number of years in which the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts and expected renewal rates based on the estimated volume and production lives of gas resources in the region. (c) Emission allowances and renewable energy credits are charged to expense, using average cost, as the allowances and credits are consumed in the operation of the business. |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes DTE Energy's estimated customer relationship and contract intangible amortization expense expected to be recognized during each year through 2022 : 2018 2019 2020 2021 2022 (In millions) Estimated amortization expense $ 26 $ 26 $ 25 $ 25 $ 25 |
Schedule Of Accounting Policies | See the following notes for other accounting policies impacting the Registrants’ Consolidated Financial Statements: Note Title 8 Asset Retirement Obligations 9 Regulatory Matters 10 Income Taxes 12 Fair Value 13 Financial and Other Derivative Instruments 20 Retirement Benefits and Trusteed Assets 21 Stock-Based Compensation |
Acquisitions and Exit Activit37
Acquisitions and Exit Activities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Business Acquisition, Integration, Restructuring and Other Related Costs [Abstract] | |
Schedule of Preliminary Purchase Price Allocation | The components of the final purchase price allocation, inclusive of purchase accounting adjustments, are as follows: (In millions) Assets Cash $ 83 Accounts receivable 24 Inventory 6 Property, plant, and equipment, net 719 Goodwill 275 Customer relationship intangibles 770 Other current assets 1 $ 1,878 Liabilities Accounts payable $ 19 Other current liabilities 11 Long-term debt 204 Other long-term liabilities 20 $ 254 Less: Noncontrolling interest 392 Total cash consideration $ 1,232 |
Restructuring and Related Costs | A summary of the charges in the Consolidated Statements of Operations resulting from DTE Energy's exit activities is shown below: 2015 (In millions) Fuel, purchased power, and gas — non-utility $ 5 Operation and maintenance 10 Asset (gains) losses and impairments, net 96 Total exit activity charges $ 111 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following is the summary of change in the carrying amount of goodwill for the years ended December 31: 2017 2016 (In millions) Balance as of January 1 $ 2,286 $ 2,018 Goodwill attributable to Gas Storage and Pipelines acquisition 7 268 Balance at December 31 $ 2,293 $ 2,286 |
Property, Plant, and Equipment
Property, Plant, and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
PP&E by Classification, Summary of Depreciation and Amortization | The following is a summary of Depreciation and amortization expense for DTE Energy: 2017 2016 2015 (In millions) Property, plant, and equipment $ 865 $ 783 $ 740 Regulatory assets and liabilities 165 193 150 Securitized regulatory assets (a) — — (38 ) $ 1,030 $ 976 $ 852 _______________________________________ (a) Securitization surcharges ended in December 2014 with remaining over recovery refunded to customers in 2015. Securitization bonds were paid and Securitization regulatory assets amortization was completed in 2015. The $38 million credit represents the final adjustments to close out the Securitization program. The following is a summary of Depreciation and amortization expense for DTE Electric: 2017 2016 2015 (In millions) Property, plant, and equipment $ 620 $ 582 $ 545 Regulatory assets and liabilities 133 168 126 Securitized regulatory assets (a) — — (38 ) $ 753 $ 750 $ 633 _______________________________________ (a) Securitization surcharges ended in December 2014 with remaining over recovery refunded to customers in 2015. Securitization bonds were paid and Securitization regulatory assets amortization was completed in 2015. The $38 million credit represents the final adjustments to close out the Securitization program. The following is a summary of Property, plant, and equipment by classification as of December 31: 2017 2016 Property, plant, and equipment (In millions) DTE Electric Generation $ 12,166 $ 11,990 Distribution 8,637 8,134 Other 2,169 1,970 Total DTE Electric 22,972 22,094 DTE Gas Distribution 3,523 3,382 Storage 533 503 Transmission and other 1,118 925 Total DTE Gas 5,174 4,810 Non-utility and other 3,278 3,125 Total DTE Energy 31,424 30,029 Accumulated depreciation and amortization DTE Electric Generation (4,403 ) (4,364 ) Distribution (2,914 ) (2,769 ) Other (667 ) (588 ) Total DTE Electric (7,984 ) (7,721 ) DTE Gas Distribution (1,238 ) (1,198 ) Storage (159 ) (152 ) Transmission and other (384 ) (370 ) Total DTE Gas (1,781 ) (1,720 ) Non-utility and other (938 ) (858 ) Total DTE Energy (10,703 ) (10,299 ) Net DTE Energy Property, plant, and equipment $ 20,721 $ 19,730 Net DTE Electric Property, plant, and equipment $ 14,988 $ 14,373 |
Schedule of AFUDC and Interest Capitalized | The following is a summary of the Registrants' AFUDC and interest capitalized for the years ended December 31: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Allowance for debt funds used during construction and interest capitalized $ 13 $ 10 $ 8 $ 8 Allowance for equity funds used during construction 23 21 18 18 Total $ 36 $ 31 $ 26 $ 26 |
Schedule of Utility Property, Plant, and Equipment | The average estimated useful life for each major class of utility Property, plant, and equipment as of December 31, 2017 follows: Estimated Useful Lives in Years Utility Generation Distribution Storage DTE Electric 40 41 N/A DTE Gas N/A 50 53 |
Schedule of Capitalized Software | The following balances for capitalized software relate to DTE Energy: Year Ended December 31, 2017 2016 2015 (In millions) Amortization expense of capitalized software $ 101 $ 89 $ 98 Gross carrying value of capitalized software $ 890 $ 715 Accumulated amortization of capitalized software $ 500 $ 435 The following balances for capitalized software relate to DTE Electric: Year Ended December 31, 2017 2016 2015 (In millions) Amortization expense of capitalized software $ 93 $ 83 $ 80 Gross carrying value of capitalized software $ 774 $ 610 Accumulated amortization of capitalized software $ 423 $ 365 |
Schedule of Capital Leased Assets | Property under capital leases for the Registrants is as follows: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Gross property under capital leases $ 44 $ 44 $ 18 $ 18 Accumulated amortization of property under capital leases $ 38 $ 32 $ 12 $ 6 |
Jointly-Owned Utility Plant (Ta
Jointly-Owned Utility Plant (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Jointly Owned Utility Plant, Net Ownership Amount [Abstract] | |
Schedule of Jointly-Owned Utility Plants | Ownership information of the two utility plants as of December 31, 2017 was as follows: Belle River Ludington Hydroelectric Pumped Storage In-service date 1984-1985 1973 Total plant capacity 1,270 MW 2,080 MW Ownership interest (a) 49% Investment in Property, plant, and equipment (in millions) $ 1,814 $ 559 Accumulated depreciation (in millions) $ 1,060 $ 188 _______________________________________ (a) DTE Electric's ownership interest is 63% in Unit No. 1, 81% of the facilities applicable to Belle River used jointly by the Belle River and St. Clair Power Plants and 75% in common facilities used at Unit No. 2. |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Schedule of Change in Asset Retirement Obligations | A reconciliation of the asset retirement obligations for 2017 follows: DTE Energy DTE Electric (In millions) Asset retirement obligations at December 31, 2016 $ 2,197 $ 2,012 Accretion 131 120 Liabilities incurred 2 1 Liabilities settled (6 ) (2 ) Revision in estimated cash flows (4 ) (6 ) Asset retirement obligations at December 31, 2017 $ 2,320 $ 2,125 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Assets and Liabilities Disclosure [Abstract] | |
Schedule of Regulatory Assets | The following are balances and a brief description of the Registrants' Regulatory assets and liabilities at December 31: DTE Energy DTE Electric 2017 2016 2017 2016 Assets (In millions) Recoverable pension and other postretirement costs Pension $ 2,000 $ 2,159 $ 1,502 $ 1,642 Other postretirement costs 278 286 211 207 Asset retirement obligation 569 613 569 613 Removal costs asset 299 193 299 193 Recoverable Michigan income taxes 213 231 171 187 Deferred environmental costs 75 78 — — Unamortized loss on reacquired debt 65 59 46 39 Transitional Reconciliation Mechanism 46 30 46 30 Customer360 deferred costs 45 33 45 33 Recoverable income taxes related to AFUDC equity 41 59 35 53 Other recoverable income taxes 26 57 26 57 Nuclear Performance Evaluation and Review Committee Tracker 22 — 22 — Accrued PSCR/GCR revenue 17 22 17 19 Other 82 93 66 76 3,778 3,913 3,055 3,149 Less amount included in Current Assets (55 ) (42 ) (50 ) (36 ) $ 3,723 $ 3,871 $ 3,005 $ 3,113 |
Schedule of Regulatory Liabilities | DTE Energy DTE Electric 2017 2016 2017 2016 Liabilities (In millions) Refundable federal income taxes $ 2,384 $ — $ 1,946 $ — Removal costs liability 265 266 — — Renewable energy 112 145 112 145 Negative other postretirement offset 80 56 67 55 Negative pension offset 21 36 — — Fermi 2 refueling outage 15 27 15 27 Refundable self-implemented rates 2 27 2 27 Other 14 32 12 2 2,893 589 2,154 256 Less amount included in Current Liabilities (18 ) (34 ) (17 ) (27 ) $ 2,875 $ 555 $ 2,137 $ 229 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation | The Registrants' total Income Tax Expense varied from the statutory federal income tax rate for the following reasons: 2017 2016 2015 DTE Energy (In millions) Income Before Income Taxes $ 1,287 $ 1,105 $ 950 Income tax expense at 35% statutory rate $ 450 $ 387 $ 333 Production tax credits (189 ) (145 ) (122 ) Investment tax credits (4 ) (5 ) (7 ) Depreciation (4 ) (4 ) (4 ) Noncontrolling interests 8 12 2 AFUDC equity (18 ) (10 ) (8 ) Employee Stock Ownership Plan dividends (5 ) (5 ) (5 ) Stock based compensation (14 ) — — Subsidiary stock loss — (10 ) — State and local income taxes, net of federal benefit 51 58 35 Enactment of the Tax Cuts and Jobs Act (105 ) — — Other, net 5 (7 ) 6 Income Tax Expense $ 175 $ 271 $ 230 Effective income tax rate 13.6 % 24.5 % 24.2 % 2017 2016 2015 DTE Electric (In millions) Income Before Income Taxes $ 928 $ 975 $ 836 Income tax expense at 35% statutory rate $ 325 $ 341 $ 293 Production tax credits (36 ) (30 ) (31 ) Investment tax credits (4 ) (4 ) (5 ) Depreciation 3 3 3 AFUDC equity (5 ) (6 ) (7 ) Employee Stock Ownership Plan dividends (3 ) (3 ) (3 ) State and local income taxes, net of federal benefit 48 56 43 Other, net (1 ) (4 ) (1 ) Income Tax Expense $ 327 $ 353 $ 292 Effective income tax rate 35.2 % 36.2 % 34.9 % |
Schedule of Components of Income Tax Expense (Benefit) | Components of the Registrants' Income Tax Expense were as follows: 2017 2016 2015 DTE Energy (In millions) Current income tax expense (benefit) Federal $ (22 ) $ (1 ) $ (3 ) State and other income tax 1 7 (4 ) Total current income taxes (21 ) 6 (7 ) Deferred income tax expense Federal 118 184 178 State and other income tax 78 81 59 Total deferred income taxes 196 265 237 $ 175 $ 271 $ 230 2017 2016 2015 DTE Electric (In millions) Current income tax expense (benefit) Federal $ (17 ) $ — $ (26 ) State and other income tax (1 ) 11 (2 ) Total current income taxes (18 ) 11 (28 ) Deferred income tax expense Federal 270 268 252 State and other income tax 75 74 68 Total deferred income taxes 345 342 320 $ 327 $ 353 $ 292 |
Schedule of Deferred Tax Assets and Liabilities | The Registrants' deferred tax assets (liabilities) were comprised of the following at December 31: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Property, plant, and equipment $ (3,276 ) $ (4,880 ) $ (2,698 ) $ (3,819 ) Regulatory assets and liabilities (94 ) (879 ) (31 ) (778 ) Tax credit carry-forwards 947 643 193 116 Pension and benefits 334 643 302 518 Federal net operating loss carry-forward 83 190 47 42 State and local net operating loss carry-forwards 70 59 5 1 Investments in equity method investees (82 ) (119 ) — — Other 170 217 94 127 (1,848 ) (4,126 ) (2,088 ) (3,793 ) Less valuation allowance (40 ) (36 ) — — Long-term deferred income tax liabilities $ (1,888 ) $ (4,162 ) $ (2,088 ) $ (3,793 ) Deferred income tax assets $ 1,814 $ 1,463 $ 830 $ 569 Deferred income tax liabilities (3,702 ) (5,625 ) (2,918 ) (4,362 ) $ (1,888 ) $ (4,162 ) $ (2,088 ) $ (3,793 ) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of unrecognized tax benefits for the Registrants is as follows: 2017 2016 2015 DTE Energy (In millions) Balance at January 1 $ 10 $ 3 $ 9 Additions for tax positions of prior years — 7 — Lapse of statute of limitations — — (6 ) Balance at December 31 $ 10 $ 10 $ 3 2017 2016 2015 DTE Electric (In millions) Balance at January 1 $ 13 $ 4 $ 4 Additions for tax positions of prior years — 9 — Balance at December 31 $ 13 $ 13 $ 4 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 for the years ended December 31 : 2017 2016 2015 (In millions, except per share amounts) Basic Earnings per Share Net Income Attributable to DTE Energy Company $ 1,134 $ 868 $ 727 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — basic $ 1,132 $ 866 $ 725 Average number of common shares outstanding 179 179 179 Basic Earnings per Common Share $ 6.32 $ 4.84 $ 4.05 Diluted Earnings per Share Net Income Attributable to DTE Energy Company $ 1,134 $ 868 $ 727 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — diluted $ 1,132 $ 866 $ 725 Average number of common shares outstanding 179 179 179 Diluted Earnings per Common Share (a) $ 6.32 $ 4.83 $ 4.05 _______________________________________ (a) The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6 million and 7.1 million for the years ended December 31, 2017 and 2016 , respectively, as the dilutive stock price threshold was not met. |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities 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: December 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Other (a) Netting (b) Net Balance Level 1 Level 2 Level 3 Netting (b) Net Balance (In millions) Assets: Cash equivalents (c) $ 16 $ 3 $ — $ — $ — $ 19 $ 14 $ 3 $ — $ — $ 17 Nuclear decommissioning trusts Equity securities 978 — — — — 978 887 — — — 887 Fixed income securities 18 477 — — — 495 11 414 — — 425 Private equity securities — — — 5 — 5 — — — — — Cash equivalents 14 — — — — 14 8 — — — 8 Other investments (d) Equity securities 118 — — — — 118 104 — — — 104 Fixed income securities 72 — — — — 72 58 — — — 58 Cash equivalents 4 — — — — 4 3 — — — 3 Derivative assets: Commodity Contracts: Natural Gas 148 112 97 — (256 ) 101 216 79 53 (306 ) 42 Electricity — 243 42 — (241 ) 44 — 154 39 (157 ) 36 Other — — 9 — — 9 — — 2 — 2 Foreign currency exchange contracts — 1 — — (1 ) — — 6 — (5 ) 1 Total derivative assets 148 356 148 — (498 ) 154 216 239 94 (468 ) 81 Total $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 $ 1,301 $ 656 $ 94 $ (468 ) $ 1,583 Liabilities: Derivative liabilities: Commodity Contracts: Natural Gas $ (141 ) $ (111 ) $ (126 ) $ — $ 263 $ (115 ) $ (226 ) $ (86 ) $ (149 ) $ 321 $ (140 ) Electricity — (245 ) (30 ) — 246 (29 ) — (159 ) (30 ) 163 (26 ) Other — — (1 ) — 1 — — — (3 ) 2 (1 ) Foreign currency exchange contracts — (3 ) — — 1 (2 ) — (3 ) — 3 — Total derivative liabilities (141 ) (359 ) (157 ) — 511 (146 ) (226 ) (248 ) (182 ) 489 (167 ) Total $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) $ (226 ) $ (248 ) $ (182 ) $ 489 $ (167 ) Net Assets (Liabilities) at end of period $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 $ 1,075 $ 408 $ (88 ) $ 21 $ 1,416 Assets: Current $ 157 $ 298 $ 104 $ — $ (437 ) $ 122 $ 205 $ 199 $ 60 $ (400 ) $ 64 Noncurrent 1,211 538 44 5 (61 ) 1,737 1,096 457 34 (68 ) 1,519 Total Assets $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 $ 1,301 $ 656 $ 94 $ (468 ) $ 1,583 Liabilities: Current $ (137 ) $ (313 ) $ (108 ) $ — $ 459 $ (99 ) $ (203 ) $ (211 ) $ (79 ) $ 424 $ (69 ) Noncurrent (4 ) (46 ) (49 ) — 52 (47 ) (23 ) (37 ) (103 ) 65 (98 ) Total Liabilities $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) $ (226 ) $ (248 ) $ (182 ) $ 489 $ (167 ) Net Assets (Liabilities) at end of period $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 $ 1,075 $ 408 $ (88 ) $ 21 $ 1,416 _______________________________________ (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) At December 31, 2017 , available-for-sale securities of $19 million included $8 million and $11 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2016 , available-for-sale securities of $17 million , included $7 million and $10 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. (d) Excludes cash surrender value of life insurance investments. The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis: December 31, 2017 December 31, 2016 Level 1 Level 2 Level 3 Other (a) Net Balance Level 1 Level 2 Level 3 Net Balance (In millions) Assets: Cash equivalents (b) $ 8 $ 3 $ — $ — $ 11 $ 8 $ 3 $ — $ 11 Nuclear decommissioning trusts Equity securities 978 — — — 978 887 — — 887 Fixed income securities 18 477 — — 495 11 414 — 425 Private equity securities — — — 5 5 — — — — Cash equivalents 14 — — — 14 8 — — 8 Other investments Equity securities 11 — — — 11 9 — — 9 Derivative assets — FTRs — — 9 — 9 — — 2 2 Total $ 1,029 $ 480 $ 9 $ 5 $ 1,523 $ 923 $ 417 $ 2 $ 1,342 Assets: Current $ 8 $ 3 $ 9 $ — $ 20 $ 8 $ 3 $ 2 $ 13 Noncurrent 1,021 477 — 5 1,503 915 414 — 1,329 Total Assets $ 1,029 $ 480 $ 9 $ 5 $ 1,523 $ 923 $ 417 $ 2 $ 1,342 _______________________________________ (a) Amounts represent assets valued at NAV as a practical expedient for fair value. (b) At December 31, 2017 , available-for-sale securities of $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2016 , available-for-sale securities of $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis Level 3 Roll Forward | 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 for the years ended December 31, 2017 and 2016 : Year Ended December 31, 2017 Year Ended December 31, 2016 Natural Gas Electricity Other Total Natural Gas Electricity Other Total (In millions) Net Assets (Liabilities) as of January 1 $ (96 ) $ 9 $ (1 ) $ (88 ) $ (5 ) $ 6 $ (5 ) $ (4 ) Transfers into Level 3 from Level 2 — — — — — — — — Transfers from Level 3 into Level 2 — — — — — — — — Total gains (losses) Included in earnings (29 ) 109 2 82 (159 ) (2 ) 1 (160 ) Recorded in Regulatory liabilities — — 25 25 — — 6 6 Purchases, issuances, and settlements: Purchases — — — — — 1 — 1 Settlements 96 (106 ) (18 ) (28 ) 68 4 (3 ) 69 Net Assets (Liabilities) as of December 31 $ (29 ) $ 12 $ 8 $ (9 ) $ (96 ) $ 9 $ (1 ) $ (88 ) The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations $ (30 ) $ 50 $ 1 $ 21 $ (166 ) $ 7 $ 2 $ (157 ) 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 for the years ended December 31, 2017 and 2016 : Year Ended December 31, 2017 2016 (In millions) Net Assets as of January 1 $ 2 $ 3 Change in fair value recorded in Regulatory liabilities 25 6 Purchases, issuances, and settlements: Settlements (18 ) (7 ) Net Assets as of December 31 $ 9 $ 2 The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in DTE Electric's Consolidated Statements of Financial Position $ 9 $ 2 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities as of December 31, 2017 and 2016 : December 31, 2017 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 97 $ (126 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (1.10 ) — $ 9.75 /MMBtu $ (0.03 )/MMBtu Electricity $ 42 $ (30 ) Discounted Cash Flow Forward basis price (per MWh) $ (5 ) — $ 15 /MWh $ 2 /MWh December 31, 2016 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 53 $ (149 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (1.00 ) — $ 7.90 /MMBtu $ (0.05 )/MMBtu Electricity $ 39 $ (30 ) Discounted Cash Flow Forward basis price (per MWh) $ (6 ) — $ 12 /MWh $ 1 /MWh |
Fair Value of Financial Instruments | The following table presents the carrying amount and fair value of financial instruments for DTE Energy as of December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (In millions) Notes receivable (a) , excluding capital leases $ 38 $ — $ — $ 38 $ 36 $ — $ — $ 36 Dividends payable $ 158 $ 158 $ — $ — $ 148 $ 148 $ — $ — Short-term borrowings $ 621 $ — $ 621 $ — $ 499 $ — $ 499 $ — Notes payable — Other (b) , excluding capital leases $ 12 $ — $ — $ 12 $ 17 $ — $ — $ 17 Long-term debt (c) $ 12,288 $ 1,939 $ 10,571 $ 764 $ 11,270 $ 1,465 $ 9,384 $ 1,056 _______________________________________ (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, unamortized debt discounts, premiums, and issuance costs. Excludes Capital lease obligations. The following table presents the carrying amount and fair value of financial instruments for DTE Electric as of December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (In millions) Notes receivable (a) , excluding capital leases $ — $ — $ — $ — $ 5 $ — $ — $ 5 Short-term borrowings — affiliates $ 116 $ — $ — $ 116 $ 117 $ — $ — $ 117 Short-term borrowings — other $ 238 $ — $ 238 $ — 62 $ — $ 62 $ — Notes payable — Other (b) , excluding capital leases $ 2 $ — $ — $ 2 $ 6 $ — $ — $ 6 Long-term debt (c) $ 6,017 $ — $ 6,441 $ 171 $ 5,878 $ — $ 6,026 $ 264 _______________________________________ (a) Current portion 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, unamortized debt discounts, and issuance costs. Excludes Capital lease obligations. |
Fair Value of Nuclear Decommissioning Trust Fund Assets | The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets: December 31, 2017 December 31, 2016 (In millions) Fermi 2 $ 1,475 $ 1,291 Fermi 1 3 3 Low-level radioactive waste 14 26 $ 1,492 $ 1,320 |
Schedule of Realized Gain (Loss) for Nuclear Decomissioning 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: Year Ended December 31, 2017 2016 2015 (In millions) Realized gains $ 83 $ 74 $ 39 Realized losses $ (29 ) $ (63 ) $ (33 ) Proceeds from sale of securities $ 1,240 $ 1,457 $ 885 |
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: December 31, 2017 December 31, 2016 Fair Unrealized Unrealized Losses Fair Unrealized Unrealized Losses (In millions) Equity securities $ 978 $ 320 $ (32 ) $ 887 $ 222 $ (46 ) Fixed income securities 495 13 (3 ) 425 11 (5 ) Private equity securities 5 — — — — — Cash equivalents 14 — — 8 — — $ 1,492 $ 333 $ (35 ) $ 1,320 $ 233 $ (51 ) |
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: December 31, 2017 (In millions) Due within one year $ 23 Due after one through five years 102 Due after five through ten years 115 Due after ten years 255 $ 495 |
Financial and Other Derivativ46
Financial and Other Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | The following table presents the fair value of derivative instruments as of December 31, 2017 and 2016 for DTE Energy: December 31, 2017 December 31, 2016 Derivative Derivative Derivative Derivative (In millions) Derivatives not designated as hedging instruments: Commodity Contracts: Natural Gas $ 357 $ (378 ) $ 348 $ (461 ) Electricity 285 (275 ) 193 (189 ) Other 9 (1 ) 2 (3 ) Foreign currency exchange contracts 1 (3 ) 6 (3 ) Total derivatives not designated as hedging instrument $ 652 $ (657 ) $ 549 $ (656 ) Current $ 540 $ (558 ) $ 447 $ (493 ) Noncurrent 112 (99 ) 102 (163 ) Total derivatives $ 652 $ (657 ) $ 549 $ (656 ) The following table presents the fair value of derivative instruments as of December 31, 2017 and 2016 for DTE Electric: December 31, 2017 2016 (In millions) FTRs — Other current assets $ 9 $ 2 Total derivatives not designated as hedging instruments $ 9 $ 2 |
Offsetting Assets | The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy at December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Consolidated Statements of Financial Position Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Consolidated Statements of Financial Position Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (In millions) Derivative assets: Commodity Contracts: Natural Gas $ 357 $ (256 ) $ 101 $ 348 $ (306 ) $ 42 Electricity 285 (241 ) 44 193 (157 ) 36 Other 9 — 9 2 — 2 Foreign currency exchange contracts 1 (1 ) — 6 (5 ) 1 Total derivative assets $ 652 $ (498 ) $ 154 $ 549 $ (468 ) $ 81 Derivative liabilities: Commodity Contracts: Natural Gas $ (378 ) $ 263 $ (115 ) $ (461 ) $ 321 $ (140 ) Electricity (275 ) 246 (29 ) (189 ) 163 (26 ) Other (1 ) 1 — (3 ) 2 (1 ) Foreign currency exchange contracts (3 ) 1 (2 ) (3 ) 3 — Total derivative liabilities $ (657 ) $ 511 $ (146 ) $ (656 ) $ 489 $ (167 ) |
Offsetting Liabilities | The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy at December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Consolidated Statements of Financial Position Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Consolidated Statements of Financial Position Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (In millions) Derivative assets: Commodity Contracts: Natural Gas $ 357 $ (256 ) $ 101 $ 348 $ (306 ) $ 42 Electricity 285 (241 ) 44 193 (157 ) 36 Other 9 — 9 2 — 2 Foreign currency exchange contracts 1 (1 ) — 6 (5 ) 1 Total derivative assets $ 652 $ (498 ) $ 154 $ 549 $ (468 ) $ 81 Derivative liabilities: Commodity Contracts: Natural Gas $ (378 ) $ 263 $ (115 ) $ (461 ) $ 321 $ (140 ) Electricity (275 ) 246 (29 ) (189 ) 163 (26 ) Other (1 ) 1 — (3 ) 2 (1 ) Foreign currency exchange contracts (3 ) 1 (2 ) (3 ) 3 — Total derivative liabilities $ (657 ) $ 511 $ (146 ) $ (656 ) $ 489 $ (167 ) |
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 at December 31, 2017 and 2016 : December 31, 2017 December 31, 2016 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Current Noncurrent Current Noncurrent Current Noncurrent Current Noncurrent (In millions) Total fair value of derivatives $ 540 $ 112 $ (558 ) $ (99 ) $ 447 $ 102 $ (493 ) $ (163 ) Counterparty netting (437 ) (52 ) 437 52 (396 ) (65 ) 396 65 Collateral adjustment — (9 ) 22 — (4 ) (3 ) 28 — Total derivatives as reported $ 103 $ 51 $ (99 ) $ (47 ) $ 47 $ 34 $ (69 ) $ (98 ) |
Gain (Loss) Recognized in Income on Derivatives | The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations for years ended December 31, 2017 and 2016 is as follows: Location of Gain (Loss) Recognized in Income on Derivatives Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, Derivatives not Designated as Hedging Instruments 2017 2016 (In millions) Commodity Contracts: Natural Gas Operating Revenues — Non-utility operations $ (74 ) $ (153 ) Natural Gas Fuel, purchased power, and gas — non-utility 97 (2 ) Electricity Operating Revenues — Non-utility operations 105 43 Other Operating Revenues — Non-utility operations 2 5 Foreign currency exchange contracts Operating Revenues — Non-utility operations (2 ) (2 ) Total $ 128 $ (109 ) |
Volume of Commodity Contracts | The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of December 31, 2017 : Commodity Number of Units Natural Gas (MMBtu) 1,822,796,301 Electricity (MWh) 29,715,268 Foreign Currency Exchange (Canadian dollars) 108,023,948 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Long-term Debt, Unclassified [Abstract] | |
Schedule of Long-term Debt Instruments | At December 31, 2017 , DTE Energy had the following Junior Subordinated Debentures: Interest Rate Maturity Date Amount (In millions) 2012 Series C 5.25% 2062 $ 200 2016 Series B 5.375% 2076 300 2016 Series F 6.00% 2076 280 2017 Series E 5.25% 2077 400 $ 1,180 Selected information about DTE Energy’s 2016 Equity Units is presented below: Issuance Date Units Issued Total Net Proceeds Total Long-Term Debt RSN Annual Interest Rate Stock Purchase Contract Annual Rate Stock Purchase Settlement Date Stock Purchase Contract Liability (a) RSN Maturity Date (In millions, except interest rates) 10/5/2016 13.5 $ 654 $ 675 1.5% 5.0% 10/1/2019 $ 98 10/1/2024 _______________________________________ (a) Payments of $32 million were made in 2017. The stock purchase contract liability was $66 million and $98 million at December 31, 2017 and 2016 , respectively, exclusive of interest. DTE Energy's long-term debt outstanding and weighted average interest rates of debt outstanding at December 31 were: Interest Rate (a) Maturity Date 2017 2016 (In millions) Mortgage bonds, notes, and other DTE Energy Debt, Unsecured 3.1% 2019 — 2033 $ 3,825 $ 3,325 DTE Electric Taxable Debt, Principally Secured 4.3% 2020 — 2047 5,755 5,615 DTE Electric Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 DTE Gas Taxable Debt, Principally Secured 4.8% 2018 — 2047 1,330 1,250 Other Long-Term Debt, including Non-Recourse Debt 7 92 11,227 10,592 Unamortized debt discount and premium, net (15 ) (10 ) Unamortized debt issuance costs (69 ) (67 ) Long-term debt due within one year (104 ) (9 ) $ 11,039 $ 10,506 Junior Subordinated Debentures Subordinated Debentures 5.5% 2062 — 2077 $ 1,180 $ 780 Unamortized debt issuance costs (35 ) (24 ) $ 1,145 $ 756 _______________________________________ (a) Weighted average interest rate as of December 31, 2017 . (b) DTE Electric Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds. DTE Electric's long-term debt outstanding and weighted average interest rates of debt outstanding at December 31 were: Interest Rate (a) Maturity Date 2017 2016 (In millions) Mortgage bonds, notes, and other Taxable Debt, Principally Secured 4.3% 2020 — 2047 $ 5,755 $ 5,615 Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 6,065 5,925 Unamortized debt discount (10 ) (10 ) Unamortized debt issuance costs (38 ) (37 ) $ 6,017 $ 5,878 _______________________________________ (a) Weighted average interest rate as of December 31, 2017 . (b) Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds. |
Schedule of Issued Debt | In 2017 , the following debt was issued: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Energy March Senior Notes (a) 3.80% 2027 $ 500 DTE Electric August General and Refunding Mortgage Bonds (b) 3.75% 2047 440 DTE Gas September First Mortgage Bonds (a) 3.08% 2029 40 DTE Gas September First Mortgage Bonds (a) 3.75% 2047 40 DTE Energy November Junior Subordinated Debentures (a) 5.25% 2077 400 $ 1,420 _______________________________________ (a) Proceeds were used for repayment of short-term borrowings and general corporate purposes. (b) Proceeds were used to repay $300 million of DTE Electric's 2008 series G 5.60% Senior Notes due on June 15, 2018, for the repayment of short-term borrowings and general corporate purposes. |
Schedule of Debt Redeemed | In 2017 , the following debt was redeemed: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Electric August Senior Notes 5.60% 2018 $ 300 DTE Energy September Secured Note (a) 7.29% 2029 77 DTE Energy Various Other Long-Term Debt Various 2017 8 $ 385 _______________________________________ (a) DTE Energy's Gas Storage and Pipelines segment recognized a $16 million net loss on extinguishment of debt associated with early repayment, consisting of $20 million of early redemption premiums and $4 million of unamortized debt premiums. The loss is reflected in Other (Income) and Deductions — Interest Expense on the Consolidated Statements of Operations. |
Schedule of Maturities of Long-term Debt | The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount or premium on debt: 2018 2019 2020 2021 2022 2023 and Thereafter Total (In millions) DTE Energy (a) $ 104 $ 1,497 $ 683 $ 462 $ 616 $ 9,045 $ 12,407 DTE Electric $ — $ — $ 632 $ 462 $ 316 $ 4,655 $ 6,065 _______________________________________ (a) Amounts include DTE Electric's scheduled debt maturities. |
Preferred and Preference Secu48
Preferred and Preference Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Schedule of Preferred and Preference Securities | As of December 31, 2017 , the amount of authorized and unissued stock is as follows: Company Type of Stock Par Value Shares Authorized DTE Energy Preferred $ — 5,000,000 DTE Electric Preferred $ 100 6,747,484 DTE Electric Preference $ 1 30,000,000 DTE Gas Preferred $ 1 7,000,000 DTE Gas Preference $ 1 4,000,000 |
Short-Term Credit Arrangement49
Short-Term Credit Arrangements and Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Short-term Debt [Abstract] | |
Schedule of Line of Credit Facilities | The availability under the facilities in place at December 31, 2017 is shown in the following table: DTE Energy DTE Electric DTE Gas Total (In millions) Unsecured letter of credit facility, expiring in February 2019 $ 150 $ — $ — $ 150 Unsecured letter of credit facility, expiring in September 2019 70 — — 70 Unsecured revolving credit facility, expiring April 2022 1,200 400 300 1,900 1,420 400 300 2,120 Amounts outstanding at December 31, 2017 Commercial paper issuances 83 238 300 621 Letters of credit 124 — — 124 207 238 300 745 Net availability at December 31, 2017 $ 1,213 $ 162 $ — $ 1,375 |
Capital and Operating Leases (T
Capital and Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Schedule of Future Minimum Lease Payments for Operating Leases | The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2017 were: DTE Energy DTE Electric (In millions) 2018 $ 40 $ 15 2019 34 14 2020 22 9 2021 13 9 2022 9 6 2022 and thereafter 48 38 Total minimum lease payments $ 166 $ 91 |
Schedule of Future Minimum Lease Receivables for Capital Leases | The components of DTE Energy's net investment in capital leases at December 31, 2017 , were as follows: DTE Energy (In millions) 2018 $ 13 2019 10 2020 9 2021 — 2022 — 2023 and thereafter 1 Total minimum future lease receipts 33 Residual value of leased pipeline 40 Less unearned income (15 ) Net investment in capital lease 58 Less current portion (7 ) $ 51 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Long-term Purchase Commitments | The Registrants estimate the following commitments from 2018 through 2051 for DTE Energy, and 2018 through 2033 for DTE Electric, as detailed in the following table: DTE Energy DTE Electric (In millions) 2018 $ 2,731 $ 930 2019 1,045 320 2020 638 192 2021 474 149 2022 371 88 2023 and thereafter 2,277 820 $ 7,536 $ 2,499 |
Retirement Benefits and Trust52
Retirement Benefits and Trusteed Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | The following table provides cash contributions to the qualified pension plans as of December 31: 2017 2016 2015 (In millions) DTE Energy $ 223 $ 179 $ 177 DTE Electric 185 145 145 The table below represents the pension and other postretirement benefit plans which employees of each Registrant participated at December 31, 2017 : Registrants DTE Energy DTE Electric Qualified Pension Plans DTE Energy Company Retirement Plan X X DTE Gas Company Retirement Plan for Employees Covered by Collective Bargaining Agreements X Shenango Inc. Pension Plan X Nonqualified Pension Plans DTE Energy Company Supplemental Retirement Plan X X DTE Energy Company Executive Supplemental Retirement Plan (a) X X DTE Energy Company Supplemental Severance Benefit Plan X Other Postretirement Benefit Plans The DTE Energy Company Comprehensive Non-Health Welfare Plan X X The DTE Energy Company Comprehensive Retiree Group Health Care Plan X X DTE Supplemental Retiree Benefit Plan X X DTE Energy Company Retiree Reimbursement Arrangement Plan X X _____________________________________ (a) Sponsored by the DTE Energy subsidiary, DTE Energy Holding Company. |
Pension Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | The following table reconciles the obligations, assets, and funded status of the plans as well as the amounts recognized as prepaid pension cost or pension liability in DTE Energy's Consolidated Statements of Financial Position at December 31: DTE Energy 2017 2016 (In millions) Accumulated benefit obligation, end of year $ 5,149 $ 4,753 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 5,171 $ 4,971 Service cost 92 92 Interest cost 214 219 Plan amendments (11 ) 7 Actuarial loss 391 141 Benefits paid (281 ) (259 ) Projected benefit obligation, end of year $ 5,576 $ 5,171 Change in plan assets Plan assets at fair value, beginning of year $ 4,012 $ 3,832 Actual return on plan assets 674 253 Company contributions 231 186 Benefits paid (281 ) (259 ) Plan assets at fair value, end of year $ 4,636 $ 4,012 Funded status $ (940 ) $ (1,159 ) Amount recorded as: Current liabilities $ (16 ) $ (7 ) Noncurrent liabilities (924 ) (1,152 ) $ (940 ) $ (1,159 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 163 $ 163 Prior service cost 6 8 $ 169 $ 171 Amounts recognized in Regulatory assets (a) Net actuarial loss $ 2,014 $ 2,163 Prior service credit (14 ) (4 ) $ 2,000 $ 2,159 ______________________________________ (a) See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." |
Schedule of Net Benefit Costs | Net pension cost for DTE Energy includes the following components: 2017 2016 2015 (In millions) Service cost $ 92 $ 92 $ 100 Interest cost 214 219 210 Expected return on plan assets (311 ) (309 ) (296 ) Amortization of: Net actuarial loss 176 164 205 Prior service cost 1 1 — Other — — 2 Net pension cost $ 172 $ 167 $ 221 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | 2017 2016 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial loss $ 27 $ 197 Amortization of net actuarial loss (176 ) (164 ) Prior service cost ( credit) (11 ) 7 Amortization of prior service cost (1 ) (1 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (161 ) $ 39 Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 11 $ 206 Estimated amounts to be amortized from Regulatory assets and Accumulated other comprehensive income (loss) into net periodic benefit cost during next fiscal year Net actuarial loss $ 178 $ 172 Prior service cost $ — $ 1 |
Schedule of Expected Benefit Payments | At December 31, 2017 , the benefits related to DTE Energy's qualified and nonqualified pension plans expected to be paid in each of the next five years and in the aggregate for the five fiscal years thereafter are as follows: (In millions) 2018 $ 299 2019 301 2020 316 2021 317 2022 323 2023-2027 1,692 Total $ 3,248 |
Schedule of Assumptions Used | Assumptions used in determining the projected benefit obligation and net pension costs of DTE Energy are: 2017 2016 2015 Projected benefit obligation Discount rate 3.70% 4.25% 4.50% Rate of compensation increase 4.98% 4.65% 4.65% Net pension costs Discount rate 4.25% 4.50% 4.12% Rate of compensation increase 4.65% 4.65% 4.65% Expected long-term rate of return on plan assets 7.50% 7.75% 7.75% |
Schedule of Allocation of Plan Assets | Target allocations for DTE Energy's pension plan assets as of December 31, 2017 are listed below: U.S. Large Capitalization (Cap) Equity Securities 18 % U.S. Small Cap and Mid Cap Equity Securities 5 Non-U.S. Equity Securities 17 Fixed Income Securities 32 Hedge Funds and Similar Investments 20 Private Equity and Other 8 100 % The following tables provide the fair value measurement amounts for DTE Energy's pension plan assets at December 31, 2017 and 2016 (a) : December 31, 2017 December 31, 2016 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total (In millions) DTE Energy asset category: Short-term Investments (c) $ — $ 114 $ — $ 114 $ — $ 22 $ — $ 22 Equity Securities U.S. Large Cap (d) 821 5 — 826 875 5 — 880 U.S. Small Cap and Mid Cap (e) 229 5 — 234 229 3 — 232 Non-U.S. (f) 529 13 280 822 479 18 269 766 Fixed Income Securities (g) 1 1,453 — 1,454 1 1,037 52 1,090 Hedge Funds and Similar Investments (h) 265 — 593 858 231 — 578 809 Private Equity and Other (i) — — 328 328 — — 213 213 Securities Lending (j) (53 ) (13 ) — (66 ) (53 ) (25 ) — (78 ) Securities Lending Collateral (j) 53 13 — 66 53 25 — 78 DTE Energy Total $ 1,845 $ 1,590 $ 1,201 $ 4,636 $ 1,815 $ 1,085 $ 1,112 $ 4,012 _______________________________________ (a) For a description of levels within the fair value hierarchy, see Note 12 to the Consolidated Financial Statements, " Fair Value ." (b) Amounts represent assets valued at NAV as a practical expedient for fair value. (c) This category predominantly represents certain short-term fixed income securities and money market investments that are managed in separate accounts or commingled funds. Pricing for investments in this category are obtained from quoted prices in actively traded markets or valuations from brokers or pricing services. (d) This category represents portfolios of large capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (e) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (f) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as NAV assets. (g) This category includes corporate bonds from diversified industries, U.S. Treasuries, and mortgage-backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as NAV assets. (h) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded mutual funds, commingled funds and limited partnership funds. Pricing for mutual funds in this category is obtained from quoted prices in actively traded markets. Commingled funds or limited partnership funds are classified as NAV assets. (i) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. All pricing for investments in this category are classified as NAV assets. (j) DTE Energy has a securities lending program with a third-party agent. The program allows the agent to lend certain securities from DTE Energy's pension trusts to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. |
Other postretirement benefit plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | The following table reconciles the obligations, assets, and funded status of the plans including amounts recorded as Accrued postretirement liability in the Registrants' Consolidated Statements of Financial Position at December 31: DTE Energy DTE Electric 2017 2016 2017 2016 (In millions) Change in accumulated postretirement benefit obligation Accumulated postretirement benefit obligation, beginning of year $ 1,795 $ 1,846 $ 1,373 $ 1,414 Service cost 27 27 20 20 Interest cost 73 80 56 61 Actuarial (gai n) loss 101 (75 ) 84 (62 ) Benefits paid (86 ) (83 ) (63 ) (60 ) Accumulated postretirement benefit obligation, end of year $ 1,910 $ 1,795 $ 1,470 $ 1,373 Change in plan assets Plan assets at fair value, beginning of year $ 1,758 $ 1,617 $ 1,218 $ 1,131 Actual return on plan assets 252 122 172 87 Company contributions — 20 — — Benefits paid (162 ) (1 ) (118 ) — Plan assets at fair value, end of year $ 1,848 $ 1,758 $ 1,272 $ 1,218 Funded status $ (62 ) $ (37 ) $ (198 ) $ (155 ) Amount recorded as: Noncurrent assets $ — $ — $ 113 $ 114 Current liabilities (1 ) (1 ) — — Noncurrent liabilities (61 ) (36 ) (311 ) (269 ) $ (62 ) $ (37 ) $ (198 ) $ (155 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial (gain) loss $ (1 ) $ 12 $ — $ — $ (1 ) $ 12 $ — $ — Amounts recognized in Regulatory assets (a) Net actuarial loss $ 279 $ 300 $ 211 $ 217 Prior service credit (1 ) (14 ) — (10 ) $ 278 $ 286 $ 211 $ 207 ______________________________________ (a) See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." |
Schedule of Net Benefit Costs | Net other postretirement credit for DTE Electric includes the following components: 2017 2016 2015 (In millions) Service cost $ 20 $ 20 $ 25 Interest cost 56 61 62 Expected return on plan assets (90 ) (90 ) (90 ) Amortization of: Net actuarial loss 8 21 31 Prior service credit (10 ) (89 ) (95 ) Net other postretirement credit $ (16 ) $ (77 ) $ (67 ) Net other postretirement credit for DTE Energy includes the following components: 2017 2016 2015 (In millions) Service cost $ 27 $ 27 $ 34 Interest cost 73 80 81 Expected return on plan assets (130 ) (129 ) (131 ) Amortization of: Net actuarial loss 13 30 43 Prior service credit (14 ) (118 ) (126 ) Other — (1 ) — Net other postretirement credit $ (31 ) $ (111 ) $ (99 ) |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | 2017 2016 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial gain $ (21 ) $ (68 ) Amortization of net actuarial loss (13 ) (30 ) Prior service credit (1 ) — Amortization of prior service credit 14 119 Total recognized in Regulatory assets and Other comprehensive income (loss) $ (21 ) $ 21 Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (52 ) $ (90 ) Estimated amounts to be amortized from Regulatory assets and Accumulated other comprehensive income (loss) into net periodic benefit cost during next fiscal year Net actuarial loss $ 11 $ 16 Prior service credit $ (1 ) $ (14 ) 2017 2016 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets Net actuarial (gai n) loss $ 2 $ (59 ) Amortization of net actuarial loss (8 ) (21 ) Amortization of prior service credit 10 89 Total recognized in Regulatory assets $ 4 $ 9 Total recognized in net periodic benefit cost and Regulatory assets $ (12 ) $ (68 ) Estimated amounts to be amortized from Regulatory assets into net periodic benefit cost during next fiscal year Net actuarial loss $ 8 $ 10 Prior service credit $ — $ (10 ) |
Schedule of Expected Benefit Payments | At December 31, 2017 , the benefits expected to be paid, including prescription drug benefits, in each of the next five years and in the aggregate for the five fiscal years thereafter for the Registrants are as follows: DTE Energy DTE Electric (In millions) 2018 $ 94 $ 73 2019 99 77 2020 103 80 2021 105 82 2022 108 84 2023-2027 567 437 Total $ 1,076 $ 833 |
Schedule of Assumptions Used | Assumptions used in determining the accumulated postretirement benefit obligation and net other postretirement benefit costs of the Registrants are: 2017 2016 2015 Accumulated postretirement benefit obligation Discount rate 3.70% 4.25% 4.50% Health care trend rate pre- and post- 65 6.75 / 7.25% 6.50 / 6.75% 6.25 / 6.75% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2030 2028 2027 Other postretirement benefit costs Discount rate 4.25% 4.50% 4.10% Expected long-term rate of return on plan assets 7.75% 8.00% 8.00% Health care trend rate pre- and post- 65 6.50 / 6.75% 6.25 / 6.75% 7.50 / 6.50% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2028 2027 2025 / 2024 |
Schedule of Allocation of Plan Assets | Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2017 are listed below: U.S. Large Cap Equity Securities 16 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 20 Fixed Income Securities 26 Hedge Funds and Similar Investments 20 Private Equity and Other 14 100 % The following tables provide the fair value measurement amounts for the Registrants' other postretirement benefit plan assets at December 31, 2017 and 2016 (a) : December 31, 2017 December 31, 2016 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total DTE Energy asset category: (In millions) Short-term Investments (c) $ 13 $ 2 $ — $ 15 $ 39 $ 1 $ — $ 40 Equity Securities U.S. Large Cap (d) 284 — — 284 284 — — 284 U.S. Small Cap and Mid Cap (e) 131 — — 131 156 — — 156 Non-U.S. (f) 288 1 77 366 262 1 61 324 Fixed Income Securities (g) 29 324 130 483 15 299 125 439 Hedge Funds and Similar Investments (h) 116 — 219 335 114 — 224 338 Private Equity and Other (i) — — 234 234 — — 177 177 Securities Lending (j) (39 ) (1 ) — (40 ) (28 ) (3 ) — (31 ) Securities Lending Collateral (j) 39 1 — 40 28 3 — 31 DTE Energy Total $ 861 $ 327 $ 660 $ 1,848 $ 870 $ 301 $ 587 $ 1,758 DTE Electric asset category: Short-term Investments (c) $ 9 $ 1 $ — $ 10 $ 28 $ 1 $ — $ 29 Equity Securities U.S. Large Cap (d) 195 — — 195 195 — — 195 U.S. Small Cap and Mid Cap (e) 91 — — 91 109 — — 109 Non-U.S. (f) 200 1 52 253 182 1 41 224 Fixed Income Securities (g) 20 218 92 330 10 203 90 303 Hedge Funds and Similar Investments (h) 80 — 150 230 80 — 154 234 Private Equity and Other (i) — — 163 163 — — 124 124 Securities Lending (j) (27 ) (1 ) — (28 ) (20 ) (1 ) — (21 ) Securities Lending Collateral (j) 27 1 — 28 20 1 — 21 DTE Electric Total $ 595 $ 220 $ 457 $ 1,272 $ 604 $ 205 $ 409 $ 1,218 _______________________________________ (a) For a description of levels within the fair value hierarchy see Note 12 to the Consolidated Financial Statements, " Fair Value ." (b) Amounts represent assets valued at NAV as a practical expedient for fair value. (c) This category predominantly represents certain short-term fixed income securities and money market investments that are managed in separate accounts or commingled funds. Pricing for investments in this category are obtained from quoted prices in actively traded markets or valuations from brokers or pricing services. (d) This category represents portfolios of large capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (e) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. (f) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as NAV assets. (g) This category includes corporate bonds from diversified industries, U.S. Treasuries, bank loans, and mortgage backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as NAV assets. (h) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded mutual funds, commingled funds and limited partnership funds. Pricing for mutual funds in this category is obtained from quoted prices in actively traded markets. Commingled funds and limited partnership funds are classified as NAV assets. (i) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. All investments in this category are classified as NAV assets. (j) The Registrants have a securities lending program with a third-party agent. The program allows the agent to lend certain securities from the Registrants' VEBA trust to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2017 are listed below: U.S. Large Cap Equity Securities 16 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 20 Fixed Income Securities 26 Hedge Funds and Similar Investments 20 Private Equity and Other 14 100 % |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation [Abstract] | |
Schedule of Components of Stock-Based Compensation | The following table summarizes the components of stock-based compensation for DTE Energy: 2017 2016 2015 (In millions) Stock-based compensation expense $ 58 $ 61 $ 34 Tax benefit $ 23 $ 24 $ 13 Stock-based compensation cost capitalized in Property, plant, and equipment $ 9 $ 10 $ 5 |
Schedule of Stock-based Compensation, Stock Options, Activity | The following table summarizes DTE Energy's stock option activity for the year ended December 31, 2017 : Number of Options Weighted Average Exercise Price Aggregate Intrinsic Options outstanding and exercisable at December 31, 2016 171,517 $ 41.59 Exercised (65,523 ) $ 39.37 Options outstanding and exercisable at December 31, 2017 105,994 $ 42.95 $ 7 |
Schedule of Stock-based Compensation, Shares Authorized Under Stock Option Plans, by Exercise Price Range | The number, weighted average exercise price, and weighted average remaining contractual life of DTE Energy options outstanding as of December 31, 2017 were as follows: Range of Exercise Prices Number of Options Weighted Average Weighted Average $ 27.00 — $ 38.00 6,194 $ 27.70 1.16 $ 38.01 — $ 42.00 2,300 $ 41.79 0.15 $ 42.01 — $ 45.00 97,500 $ 43.95 2.15 105,994 $ 42.95 2.05 |
Schedule of Stock-based Compensation, Stock Award Activity | Stock award activity for DTE Energy for the years ended December 31 was: 2017 2016 2015 Fair value of awards vested (in millions) $ 10 $ 9 $ 9 Restricted common shares awarded 136,825 145,240 144,300 Weighted average market price of shares awarded $ 99.53 $ 87.28 $ 83.43 Compensation cost charged against income (in millions) $ 11 $ 11 $ 10 |
Schedule of Stock-based Compensation, Restricted Stock Activity Rollforward | The following table summarizes DTE Energy’s restricted stock awards activity for the year ended December 31, 2017 : Restricted Weighted Average Balance at December 31, 2016 385,285 $ 80.10 Grants 136,825 $ 99.53 Forfeitures (11,745 ) $ 90.24 Vested and issued (144,601 ) $ 72.08 Balance at December 31, 2017 365,764 $ 90.26 |
Stock-based Compensation Expense | DTE Energy recorded compensation expense for performance share awards as follows: 2017 2016 2015 (In millions) Compensation expense $ 47 $ 50 $ 24 Cash settlements (a) $ 15 $ 7 $ 13 Stock settlements (a) $ 66 $ 38 $ 71 _______________________________________ (a) Sum of cash and stock settlements approximates the intrinsic value of the awards. |
Schedule of Stock-based Compensation, Performance Shares Activity Rollforward | The following table summarizes DTE Energy’s performance share activity for the period ended December 31, 2017 : Performance Shares Weighted Average Balance at December 31, 2016 1,392,512 $ 79.97 Grants 494,688 $ 98.47 Forfeitures (49,547 ) $ 87.12 Payouts (513,252 ) $ 70.60 Balance at December 31, 2017 1,324,401 $ 90.31 |
Schedule of Unrecognized Compensation Cost, Non-Vested Awards | As of December 31, 2017 , DTE Energy's total unrecognized compensation cost related to non-vested stock incentive plan arrangements and the weighted average recognition period was as follows: Unrecognized Weighted Average (In millions) (In years) Stock awards $ 13 1.12 Performance shares 51 1.11 $ 64 1.11 |
Segment and Related Informati54
Segment and Related Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 and primarily consists of the sale of reduced emissions fuel, power sales, and natural gas sales in the following segments: Year Ended December 31, 2017 2016 2015 (In millions) Electric $ 48 $ 43 $ 36 Gas 8 9 3 Gas Storage and Pipelines 42 9 8 Power and Industrial Projects 569 602 785 Energy Trading 35 39 32 Corporate and Other 2 2 4 $ 704 $ 704 $ 868 Financial data of DTE Energy's business segments follows: Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2017 Operating Revenues — Utility operations $ 5,102 1,388 — — — — (56 ) $ 6,434 Operating Revenues — Non-utility operations $ — — 453 2,089 4,277 2 (648 ) $ 6,173 Depreciation and amortization $ 753 123 76 72 5 1 — $ 1,030 Interest expense $ 274 65 77 29 5 192 (106 ) $ 536 Interest income $ — (7 ) (14 ) (7 ) (2 ) (88 ) 106 $ (12 ) Equity in earnings of equity method investees $ 1 2 90 9 — — — $ 102 Income Tax Expense (Benefit) (a) $ 321 78 (30 ) (195 ) 49 (48 ) — $ 175 Net Income (Loss) Attributable to DTE Energy Company $ 606 146 275 138 72 (103 ) — $ 1,134 Investment in equity method investees $ 7 11 879 150 — 26 — $ 1,073 Capital expenditures and acquisitions $ 1,574 463 137 56 7 13 — $ 2,250 Goodwill $ 1,208 743 299 26 17 — — $ 2,293 Total Assets $ 21,163 5,072 2,594 593 725 5,324 (1,704 ) $ 33,767 _____________________________________ (a) Includes Income Tax Expense (Benefit) of $(5) million , $(115) million , $(21) million , $2 million , and $34 million for Electric — non-utility, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other, respectively, related to the enactment of the TCJA. Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2016 Operating Revenues — Utility operations $ 5,225 1,324 — — — — (52 ) $ 6,497 Operating Revenues — Non-utility operations $ — — 302 1,906 2,575 2 (652 ) $ 4,133 Depreciation and amortization $ 750 106 45 72 3 — — $ 976 Interest expense $ 264 60 39 32 6 148 (77 ) $ 472 Interest income $ (8 ) (6 ) (9 ) (8 ) (1 ) (65 ) 77 $ (20 ) Equity in earnings of equity method investees $ 2 6 60 — — — — $ 68 Income Tax Expense (Benefit) $ 353 77 71 (140 ) (29 ) (61 ) — $ 271 Net Income (Loss) Attributable to DTE Energy Company $ 622 138 119 95 (45 ) (61 ) — $ 868 Investment in equity method investees $ 11 10 538 166 — 27 — $ 752 Capital expenditures and acquisitions $ 1,503 395 1,322 39 7 3 — $ 3,269 Goodwill $ 1,208 743 292 26 17 — — $ 2,286 Total Assets $ 20,417 4,729 2,417 683 660 4,648 (1,513 ) $ 32,041 Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2015 Operating Revenues — Utility operations $ 4,901 1,376 — — — — (39 ) $ 6,238 Operating Revenues — Non-utility operations $ — — 243 2,224 2,459 2 (829 ) $ 4,099 Depreciation and amortization $ 637 104 30 78 2 1 — $ 852 Interest expense $ 258 62 24 32 6 132 (64 ) $ 450 Interest income $ — (7 ) (8 ) (8 ) (2 ) (52 ) 64 $ (13 ) Equity in earnings of equity method investees $ 2 6 47 8 — 3 — $ 66 Income Tax Expense (Benefit) $ 290 72 70 (140 ) (15 ) (47 ) — $ 230 Net Income (Loss) Attributable to DTE Energy Company $ 542 132 107 16 (22 ) (48 ) — $ 727 Investment in equity method investees $ 10 9 296 183 — 16 — $ 514 Capital expenditures and acquisitions $ 1,785 273 161 36 6 — — $ 2,261 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 19,503 4,294 1,047 860 590 3,496 (1,128 ) $ 28,662 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Transactions With Affiliated Companies | The following is a summary of DTE Electric's transactions with affiliated companies: 2017 2016 2015 (In millions) Revenues Energy sales $ 9 $ 10 $ 2 Other services $ (4 ) $ (1 ) $ 6 Shared capital assets $ 39 $ 33 $ 33 Costs Fuel and purchased power $ 6 $ 10 $ 9 Other services and interest $ (2 ) $ (1 ) $ 2 Corporate expenses, net $ 370 $ 370 $ 334 Other Dividends declared $ 432 $ 420 $ 395 Dividends paid $ 432 $ 420 $ 395 Capital contribution from DTE Energy $ 100 $ 120 $ 300 |
Supplementary Quarterly Finan56
Supplementary Quarterly Financial Information (Unaudited ) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | DTE Energy Quarterly earnings per share may not equal full year totals, since quarterly computations are based on weighted average common shares outstanding during each quarter. First Second Third Fourth Year (In millions, except per share amounts) 2017 Operating Revenues $ 3,236 $ 2,855 $ 3,245 $ 3,271 $ 12,607 Operating Income $ 569 $ 303 $ 418 $ 356 $ 1,646 Net Income Attributable to DTE Energy Company (a) $ 400 $ 177 $ 270 $ 287 $ 1,134 Basic Earnings per Share $ 2.23 $ 0.99 $ 1.51 $ 1.60 $ 6.32 Diluted Earnings per Share $ 2.23 $ 0.99 $ 1.51 $ 1.60 $ 6.32 2016 Operating Revenues $ 2,566 $ 2,262 $ 2,928 $ 2,874 $ 10,630 Operating Income $ 381 $ 256 $ 507 $ 301 $ 1,445 Net Income Attributable to DTE Energy Company $ 247 $ 152 $ 338 $ 131 $ 868 Basic Earnings per Share $ 1.38 $ 0.84 $ 1.88 $ 0.73 $ 4.84 Diluted Earnings per Share $ 1.37 $ 0.84 $ 1.88 $ 0.73 $ 4.83 _____________________________________ (a) Includes a net Income Tax Benefit of $(105) million related to the enactment of the TCJA in the fourth quarter. DTE Electric First Second Third Fourth Year (In millions) 2017 Operating Revenues $ 1,175 $ 1,218 $ 1,434 $ 1,275 $ 5,102 Operating Income $ 217 $ 272 $ 395 $ 281 $ 1,165 Net Income $ 106 $ 138 $ 219 $ 138 $ 601 2016 Operating Revenues $ 1,153 $ 1,215 $ 1,608 $ 1,249 $ 5,225 Operating Income $ 245 $ 265 $ 501 $ 193 $ 1,204 Net Income $ 127 $ 135 $ 285 $ 75 $ 622 |
Organization and Basis of Pre57
Organization and Basis of Presentation (Details) customer in Millions | Dec. 31, 2017USD ($)customer | Dec. 31, 2016USD ($) | Oct. 01, 2016 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Number of electric utility customers | customer | 2.2 | ||
Number of gas utility customers | customer | 1.3 | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Significant potential exposure | $ 0 | ||
Amount in excess of carrying amount | 72,000,000 | $ 73,000,000 | |
DTE Electric | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Significant potential exposure | $ 0 | ||
NEXUS Pipeline | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Ownership interest | 50.00% | ||
West Virginia | Midstream natural gas gathering assets | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Percentage of voting interests acquired | 55.00% | 55.00% |
Organization and Basis of Pre58
Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
ASSETS | ||||
Cash and cash equivalents | $ 66 | $ 92 | $ 37 | $ 48 |
Restricted cash | 23 | 21 | ||
Accounts receivable | 1,758 | 1,522 | ||
Property, plant, and equipment, net | 20,721 | 19,730 | ||
Goodwill | 2,293 | 2,286 | 2,018 | |
Total Assets | 33,767 | 32,041 | $ 28,662 | |
LIABILITIES | ||||
Current portion long-term debt, including capital leases | 109 | 14 | ||
Mortgage bonds, notes, and other | 11,039 | 10,506 | ||
Variable interest entity, primary beneficiary, restricted | ||||
ASSETS | ||||
Cash and cash equivalents | 37 | 63 | ||
Restricted cash | 8 | 7 | ||
Accounts receivable | 53 | 42 | ||
Inventories | 117 | 115 | ||
Property, plant, and equipment, net | 475 | 474 | ||
Goodwill | 25 | 17 | ||
Intangible assets | 572 | 586 | ||
Other current and long-term assets | 4 | 2 | ||
Total Assets | 1,291 | 1,306 | ||
LIABILITIES | ||||
Accounts payable and accrued current liabilities | 73 | 51 | ||
Current portion long-term debt, including capital leases | 4 | 5 | ||
Mortgage bonds, notes, and other | 1 | 5 | ||
Other current and long-term liabilities | 17 | 17 | ||
Total liabilities | 95 | 78 | ||
SGG | ||||
ASSETS | ||||
Cash and cash equivalents | 23 | 36 | ||
Restricted cash | 0 | 0 | ||
Accounts receivable | 11 | 8 | ||
Inventories | 3 | 3 | ||
Property, plant, and equipment, net | 400 | 398 | ||
Goodwill | 25 | 17 | ||
Intangible assets | 572 | 586 | ||
Other current and long-term assets | 4 | 1 | ||
Total Assets | 1,038 | 1,049 | ||
LIABILITIES | ||||
Accounts payable and accrued current liabilities | 26 | 19 | ||
Current portion long-term debt, including capital leases | 0 | 0 | ||
Mortgage bonds, notes, and other | 0 | 0 | ||
Other current and long-term liabilities | 1 | 2 | ||
Total liabilities | $ 27 | 21 | ||
VIE percentage | 100.00% | |||
VIE ownership percentage | 55.00% | |||
Other | ||||
ASSETS | ||||
Cash and cash equivalents | $ 14 | 27 | ||
Restricted cash | 8 | 7 | ||
Accounts receivable | 42 | 34 | ||
Inventories | 114 | 112 | ||
Property, plant, and equipment, net | 75 | 76 | ||
Goodwill | 0 | 0 | ||
Intangible assets | 0 | 0 | ||
Other current and long-term assets | 0 | 1 | ||
Total Assets | 253 | 257 | ||
LIABILITIES | ||||
Accounts payable and accrued current liabilities | 47 | 32 | ||
Current portion long-term debt, including capital leases | 4 | 5 | ||
Mortgage bonds, notes, and other | 1 | 5 | ||
Other current and long-term liabilities | 16 | 15 | ||
Total liabilities | $ 68 | $ 57 |
Organization and Basis of Pre59
Organization and Basis of Presentation (Non Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Variable Interest Entity [Line Items] | |||
Investments in equity method investees | $ 1,073 | $ 752 | $ 514 |
Notes receivable | 73 | 73 | |
Variable interest entity, nonconsolidated | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method investees | 811 | 509 | |
Notes receivable | 17 | 15 | |
Future funding commitments | $ 598 | $ 692 |
Organization and Basis of Pre60
Organization and Basis of Presentation (Equity Method Investees) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 1,073 | $ 752 | $ 514 |
NEXUS Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Percent Owned | 50.00% | ||
Gas Storage and Pipelines | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 879 | 538 | |
Gas Storage and Pipelines | NEXUS Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 640 | $ 322 | |
Percent Owned | 50.00% | 50.00% | |
Gas Storage and Pipelines | Vector Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 115 | $ 100 | |
Percent Owned | 40.00% | 40.00% | |
Gas Storage and Pipelines | Millennium Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 124 | $ 116 | |
Percent Owned | 26.00% | 26.00% | |
Other Segments | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 194 | $ 214 |
Significant Accounting Polici61
Significant Accounting Policies (Schedule of Other Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Other Nonoperating Income, by Component [Line Items] | |||
Equity in earnings of equity method investees | $ 102 | $ 68 | $ 66 |
Income from REF entities | 77 | 75 | 83 |
Gains from trading securities | 26 | 15 | 1 |
Allowance for equity funds used during construction | 23 | 21 | 21 |
Contract services | 19 | 21 | 27 |
Other | 21 | 7 | 11 |
Other income | 268 | 207 | 209 |
DTE Electric | |||
Schedule of Other Nonoperating Income, by Component [Line Items] | |||
Equity in earnings of equity method investees | 1 | 2 | 2 |
Gains from trading securities | 26 | 15 | 1 |
Allowance for equity funds used during construction | 18 | 18 | 20 |
Contract services | 21 | 20 | 27 |
Other | 11 | 6 | 10 |
Other income | $ 77 | $ 61 | $ 60 |
Significant Accounting Polici62
Significant Accounting Policies (Accumulated Other Comprehensive Loss) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | $ 9,990,000,000 | $ 9,499,000,000 | $ 8,795,000,000 | $ 8,342,000,000 |
Beginning balance | 9,011,000,000 | |||
Other comprehensive income | 13,000,000 | 12,000,000 | 10,000,000 | |
Ending balance | 9,990,000,000 | 9,499,000,000 | 8,795,000,000 | |
Ending balance | 9,512,000,000 | 9,011,000,000 | ||
AOCI including portion attributable to noncontrolling interest | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (120,000,000) | (133,000,000) | (145,000,000) | |
Other comprehensive income (loss) before reclassifications | (1,000,000) | (3,000,000) | ||
Amounts reclassified from Accumulated other comprehensive income | 14,000,000 | 15,000,000 | ||
Other comprehensive income | 13,000,000 | 12,000,000 | ||
Ending balance | (120,000,000) | (133,000,000) | (145,000,000) | |
Net Unrealized Gain (Loss) on Derivatives | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (3,000,000) | (4,000,000) | (4,000,000) | |
Other comprehensive income (loss) before reclassifications | 0 | 0 | ||
Amounts reclassified from Accumulated other comprehensive income | 1,000,000 | 0 | ||
Other comprehensive income | 1,000,000 | 0 | ||
Ending balance | (3,000,000) | (4,000,000) | (4,000,000) | |
Net Unrealized Gain (Loss) on Investments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (2,000,000) | (3,000,000) | (4,000,000) | |
Other comprehensive income (loss) before reclassifications | 1,000,000 | 0 | ||
Amounts reclassified from Accumulated other comprehensive income | 0 | 1,000,000 | ||
Other comprehensive income | 1,000,000 | 1,000,000 | ||
Ending balance | (2,000,000) | (3,000,000) | (4,000,000) | |
Benefit Obligations | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (110,000,000) | (120,000,000) | (131,000,000) | |
Other comprehensive income (loss) before reclassifications | (3,000,000) | (3,000,000) | ||
Amounts reclassified from Accumulated other comprehensive income | 13,000,000 | 14,000,000 | ||
Other comprehensive income | 10,000,000 | 11,000,000 | ||
Ending balance | (110,000,000) | (120,000,000) | (131,000,000) | |
Foreign Currency Translation | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (5,000,000) | (6,000,000) | (6,000,000) | |
Other comprehensive income (loss) before reclassifications | 1,000,000 | 0 | ||
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | ||
Other comprehensive income | 1,000,000 | 0 | ||
Ending balance | (5,000,000) | (6,000,000) | (6,000,000) | |
AOCI attributable to parent | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (120,000,000) | (133,000,000) | (145,000,000) | $ (155,000,000) |
Ending balance | (120,000,000) | (133,000,000) | (145,000,000) | |
Net Unrealized Gain on Investments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | ||
DTE Electric | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | 5,995,000,000 | 5,673,000,000 | 5,196,000,000 | |
Other comprehensive income | 1,000,000 | 0 | 28,000,000 | |
Ending balance | 6,265,000,000 | 5,995,000,000 | 5,673,000,000 | |
DTE Electric | AOCI attributable to parent | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | 2,000,000 | 2,000,000 | (26,000,000) | |
Ending balance | 3,000,000 | 2,000,000 | $ 2,000,000 | |
DTE Electric | Net Unrealized Gain on Investments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Amounts reclassified from Accumulated other comprehensive income | $ 0 | $ 0 |
Significant Accounting Polici63
Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Significant Accounting Policies [Line Items] | |||
Specific review of probable future collections based on receivable balances in excess of 90 days | 30 days | ||
Unbilled revenues | $ 1,758,000,000 | $ 1,522,000,000 | |
Regulatory liabilities | $ 2,893,000,000 | 589,000,000 | |
Property maintenance accrual period | 18 months | ||
Amortization of intangible assets | $ 29,000,000 | 16,000,000 | $ 11,000,000 |
Excise and sales taxes net impact on statement of operations | 0 | ||
Charitable contributions | 43,000,000 | 26,000,000 | $ 12,000,000 |
Fermi 2 refueling outage | |||
Significant Accounting Policies [Line Items] | |||
Regulatory liabilities | 15,000,000 | 27,000,000 | |
Natural gas inventory | |||
Significant Accounting Policies [Line Items] | |||
LIFO inventory amount | 29,000,000 | 45,000,000 | |
Excess of replacement costs over stated LIFO value | $ 81,000,000 | 132,000,000 | |
Minimum | |||
Significant Accounting Policies [Line Items] | |||
Notes receivable considered delinquent period | 60 days | ||
Maximum | |||
Significant Accounting Policies [Line Items] | |||
Notes receivable considered delinquent period | 120 days | ||
DTE Electric and DTE Gas | |||
Significant Accounting Policies [Line Items] | |||
Receivables due date | 21 days | ||
Threshold period past due for write-off of trade accounts receivable | 150 days | ||
DTE Electric | |||
Significant Accounting Policies [Line Items] | |||
Unbilled revenues | $ 791,000,000 | 728,000,000 | |
Regulatory liabilities | 2,154,000,000 | 256,000,000 | |
DTE Electric | Fermi 2 refueling outage | |||
Significant Accounting Policies [Line Items] | |||
Regulatory liabilities | 15,000,000 | 27,000,000 | |
Unbilled revenues | |||
Significant Accounting Policies [Line Items] | |||
Unbilled revenues | 1,000,000,000 | 814,000,000 | |
Unbilled revenues | DTE Electric | |||
Significant Accounting Policies [Line Items] | |||
Unbilled revenues | $ 290,000,000 | $ 267,000,000 |
Significant Accounting Polici64
Significant Accounting Policies (Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 963 | $ 912 |
Accumulated Amortization | (96) | (70) |
Intangible assets, net carrying value | $ 867 | 842 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 40 years | |
DTE Electric | ||
Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets | $ 25 | 31 |
Intangible assets, gross | 25 | 31 |
Accumulated Amortization | 0 | 0 |
Intangible assets, net carrying value | 25 | 31 |
DTE Electric | DTE Electric renewable energy credits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets | 24 | 30 |
DTE Electric | DTE Electric emission allowances | ||
Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets | 1 | 1 |
DTE Energy | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 938 | 881 |
Accumulated Amortization | (96) | (70) |
Finite-lived intangible assets, net carrying value | 842 | 811 |
DTE Energy | Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 770 | 770 |
Accumulated Amortization | (24) | (5) |
Finite-lived intangible assets, net carrying value | 746 | 765 |
DTE Energy | Contract intangibles | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 168 | 111 |
Accumulated Amortization | (72) | (65) |
Finite-lived intangible assets, net carrying value | $ 96 | $ 46 |
Minimum | Contract intangibles | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 6 years | |
Maximum | Contract intangibles | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 26 years |
Significant Accounting Polici65
Significant Accounting Policies (Future Amortization Expense Intangible Assets) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2,018 | $ 26 |
2,019 | 26 |
2,020 | 25 |
2,021 | 25 |
2,022 | $ 25 |
Acquisitions and Exit Activit66
Acquisitions and Exit Activities (Acquisition) (Details) - Gas Storage and Pipelines Acquisition - USD ($) $ in Millions | Oct. 01, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Payments to acquire businesses | $ 1,200 | |||
Assumed debt | 204 | |||
Assumed debt, acquiree portion | $ 112 | |||
Noncontrolling interest percentage | 45.00% | |||
Assumed debt, noncontrolling interest portion | $ 92 | |||
Purchase accounting adjustment, additional goodwill | $ 7 | |||
Useful life of acquired intangible assets | 40 years | |||
Pre-acquisition contingencies | $ 30 | |||
Direct transaction costs | $ 15 | |||
Operating revenues | 39 | |||
Net income | 4 | |||
Transaction Costs | ||||
Business Acquisition [Line Items] | ||||
Net income | $ 15 | |||
Customer relationships | ||||
Business Acquisition [Line Items] | ||||
Customer relationship intangibles | $ 770 | |||
Useful life of acquired intangible assets | 10 years | |||
West Virginia | ||||
Business Acquisition [Line Items] | ||||
Percentage of voting interests acquired | 55.00% | 55.00% | ||
M3 Midstream | Pennsylvania and West Virginia | ||||
Business Acquisition [Line Items] | ||||
Percentage of voting interests acquired | 100.00% | |||
M3 Midstream | West Virginia | ||||
Business Acquisition [Line Items] | ||||
Percentage of voting interests acquired | 40.00% | |||
Vega Energy Partners | West Virginia | ||||
Business Acquisition [Line Items] | ||||
Percentage of voting interests acquired | 15.00% |
Acquisitions and Exit Activit67
Acquisitions and Exit Activities (Schedule of Purchase Price Allocation) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Oct. 01, 2016 | Dec. 31, 2015 |
Assets | ||||
Goodwill | $ 2,293 | $ 2,286 | $ 2,018 | |
Gas Storage and Pipelines Acquisition | ||||
Assets | ||||
Cash | $ 83 | |||
Accounts receivable | 24 | |||
Inventory | 6 | |||
Property, plant, and equipment, net | 719 | |||
Goodwill | 275 | |||
Other current assets | 1 | |||
Total assets | 1,878 | |||
Liabilities | ||||
Accounts payable | 19 | |||
Other current liabilities | 11 | |||
Long-term debt | 204 | |||
Other long-term liabilities | 20 | |||
Total liabilities | 254 | |||
Less: Noncontrolling interest | 392 | |||
Total cash consideration | $ 1,232 |
Acquisitions and Exit Activit68
Acquisitions and Exit Activities (Exit Activities) (Details) - Facility Closing $ in Millions | Dec. 17, 2015USD ($)employee | Dec. 31, 2017USD ($) | Dec. 31, 2015USD ($) |
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax non-cash impairment charge | $ 111 | $ 111 | |
Charge to fully impair long-lived assets | $ 96 | ||
Number of employees related to workforce reduction | employee | 170 | ||
Severance expense | $ 3 | ||
Other expenses, including write downs of inventory | $ 12 | ||
Accrual related to exit activities | $ 1 | ||
Expected future cash payments on exit activities | $ 4 |
Acquisitions and Exit Activit69
Acquisitions and Exit Activities (Restructuring and Related Costs) (Details) - Facility Closing - USD ($) $ in Millions | Dec. 17, 2015 | Dec. 31, 2015 |
Restructuring Cost and Reserve [Line Items] | ||
Total exit activity charges | $ 111 | $ 111 |
Fuel, purchased power, and gas — non-utility | ||
Restructuring Cost and Reserve [Line Items] | ||
Total exit activity charges | 5 | |
Operation and maintenance | ||
Restructuring Cost and Reserve [Line Items] | ||
Total exit activity charges | 10 | |
Asset (gains) losses and impairments, net | ||
Restructuring Cost and Reserve [Line Items] | ||
Total exit activity charges | $ 96 |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill [Roll Forward] | ||
Balance as of January 1 | $ 2,286 | $ 2,018 |
Goodwill attributable to Gas Storage and Pipelines acquisition | 7 | 268 |
Balance at December 31 | $ 2,293 | $ 2,286 |
Property, Plant, and Equipmen71
Property, Plant, and Equipment (Summary of Property by Classification) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | $ 31,424 | $ 30,029 |
Accumulated depreciation and amortization | (10,703) | (10,299) |
Net property, plant, and equipment | 20,721 | 19,730 |
Non-utility and other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 3,278 | 3,125 |
Accumulated depreciation and amortization | (938) | (858) |
DTE Electric | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 22,972 | 22,094 |
Accumulated depreciation and amortization | (7,984) | (7,721) |
Net property, plant, and equipment | 14,988 | 14,373 |
DTE Electric | Generation | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 12,166 | 11,990 |
Accumulated depreciation and amortization | (4,403) | (4,364) |
DTE Electric | Distribution | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 8,637 | 8,134 |
Accumulated depreciation and amortization | (2,914) | (2,769) |
DTE Electric | Other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 2,169 | 1,970 |
Accumulated depreciation and amortization | (667) | (588) |
DTE Gas | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 5,174 | 4,810 |
Accumulated depreciation and amortization | (1,781) | (1,720) |
DTE Gas | Distribution | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 3,523 | 3,382 |
Accumulated depreciation and amortization | (1,238) | (1,198) |
DTE Gas | Storage | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 533 | 503 |
Accumulated depreciation and amortization | (159) | (152) |
DTE Gas | Transmission and other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 1,118 | 925 |
Accumulated depreciation and amortization | $ (384) | $ (370) |
Property, Plant, and Equipmen72
Property, Plant, and Equipment (Schedule of Interest Costs Capitalized) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant, and Equipment [Line Items] | ||
Allowance for debt funds used during construction and interest capitalized | $ 13 | $ 10 |
Allowance for equity funds used during construction | 23 | 21 |
Total | 36 | 31 |
DTE Electric | ||
Property, Plant, and Equipment [Line Items] | ||
Allowance for debt funds used during construction and interest capitalized | 8 | 8 |
Allowance for equity funds used during construction | 18 | 18 |
Total | $ 26 | $ 26 |
Property, Plant, and Equipmen73
Property, Plant, and Equipment (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Minimum | Non-utility | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 3 years | ||
Minimum | Capitalized software | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 3 years | ||
Maximum | Non-utility | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 83 years | ||
Maximum | Capitalized software | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 15 years | ||
DTE Electric | Minimum | Other | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 4 years | ||
DTE Electric | Minimum | Capitalized software | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 4 years | ||
DTE Electric | Maximum | Other | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 62 years | ||
DTE Electric | Maximum | Capitalized software | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 15 years | ||
DTE Gas | Minimum | Transmission and other | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 5 years | ||
DTE Gas | Maximum | Transmission and other | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 70 years | ||
DTE Electric | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Composite depreciation rate for plants in service | 3.60% | 3.50% | 3.50% |
DTE Gas | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Composite depreciation rate for plants in service | 2.70% | 2.40% | 2.60% |
Property, Plant, and Equipmen74
Property, Plant, and Equipment (Average Estimated Useful Life of Each Major Class) (Details) | 12 Months Ended |
Dec. 31, 2017 | |
DTE Electric | |
Public Utility Property, Plant, and Equipment [Line Items] | |
Useful Life - Generation | 40 years |
Useful Life - Distribution | 41 years |
DTE Gas | |
Public Utility Property, Plant, and Equipment [Line Items] | |
Useful Life - Distribution | 50 years |
Useful Life - Storage | 53 years |
Property, Plant, and Equipmen75
Property, Plant, and Equipment (Depreciation and Amortization) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant, and Equipment [Line Items] | |||
Property, plant, and equipment | $ 865 | $ 783 | $ 740 |
Regulatory assets and liabilities | 165 | 193 | 150 |
Securitized regulatory assets | 0 | 0 | (38) |
Depreciation and amortization | 1,030 | 976 | 852 |
DTE Electric | |||
Property, Plant, and Equipment [Line Items] | |||
Property, plant, and equipment | 620 | 582 | 545 |
Regulatory assets and liabilities | 133 | 168 | 126 |
Securitized regulatory assets | 0 | 0 | (38) |
Depreciation and amortization | $ 753 | $ 750 | $ 633 |
Property, Plant, and Equipmen76
Property, Plant, and Equipment (Capitalized Software) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant, and Equipment [Line Items] | |||
Amortization expense of capitalized software | $ 101 | $ 89 | $ 98 |
Gross carrying value of capitalized software | 890 | 715 | |
Accumulated amortization of capitalized software | 500 | 435 | |
DTE Electric | |||
Property, Plant, and Equipment [Line Items] | |||
Amortization expense of capitalized software | 93 | 83 | $ 80 |
Gross carrying value of capitalized software | 774 | 610 | |
Accumulated amortization of capitalized software | $ 423 | $ 365 |
Property, Plant, and Equipmen77
Property, Plant, and Equipment (Capital Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Capital Leased Assets [Line Items] | ||
Gross property under capital leases | $ 44 | $ 44 |
Accumulated amortization of property under capital leases | 38 | 32 |
DTE Electric | ||
Capital Leased Assets [Line Items] | ||
Gross property under capital leases | 18 | 18 |
Accumulated amortization of property under capital leases | $ 12 | $ 6 |
Jointly-Owned Utility Plant (De
Jointly-Owned Utility Plant (Details) | Dec. 31, 2017plant |
Jointly-Owned Utility Plant Interests [Line Items] | |
Number of power plants owned | 2 |
Belle River Unit 1 | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Percent of the total capacity and energy of the plant | 19.00% |
Ludington Hydroelectric Pumped Storage | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Percent of the total capacity and energy of the plant | 51.00% |
Jointly-Owned Utility Plant (Ow
Jointly-Owned Utility Plant (Ownership Information) (Details) $ in Millions | Dec. 31, 2017USD ($)MW |
Belle River facilities used jointly by Belle River and St. Clair Power plants | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 81.00% |
Belle River | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Total plant capacity | MW | 1,270 |
Investment in Property, plant, and equipment (in millions) | $ 1,814 |
Accumulated depreciation (in millions) | $ 1,060 |
Belle River Unit 1 | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 63.00% |
Belle River Unit 2 | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 75.00% |
Ludington Hydroelectric Pumped Storage | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Total plant capacity | MW | 2,080 |
Ownership interest | 49.00% |
Investment in Property, plant, and equipment (in millions) | $ 559 |
Accumulated depreciation (in millions) | $ 188 |
Asset Retirement Obligations (R
Asset Retirement Obligations (Rollforward) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Asset retirement obligations at December 31, 2016 | $ 2,197 |
Accretion | 131 |
Liabilities incurred | 2 |
Liabilities settled | (6) |
Revision in estimated cash flows | (4) |
Asset retirement obligations at December 31, 2017 | 2,320 |
DTE Electric | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Asset retirement obligations at December 31, 2016 | 2,012 |
Accretion | 120 |
Liabilities incurred | 1 |
Liabilities settled | (2) |
Revision in estimated cash flows | (6) |
Asset retirement obligations at December 31, 2017 | $ 2,125 |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details) - Fermi 2 | Dec. 31, 2017USD ($) |
Asset Retirement Obligations [Line Items] | |
Nuclear decommissioning liabilities funded through surcharge and included in ARO balance | $ 1,900,000,000 |
Liabilities balance upon completion of decommissioning | $ 0 |
Regulatory Matters (Schedule of
Regulatory Matters (Schedule of Regulatory Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 3,778 | $ 3,913 |
Less amount included in Current Assets | (55) | (42) |
Regulatory assets, noncurrent | 3,723 | 3,871 |
Pension | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 2,000 | 2,159 |
Other postretirement costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 278 | 286 |
Asset retirement obligation | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 569 | 613 |
Removal costs asset | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 299 | 193 |
Recoverable Michigan income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 213 | 231 |
Deferred environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 75 | 78 |
Unamortized loss on reacquired debt | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 65 | 59 |
Transitional Reconciliation Mechanism | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 46 | 30 |
Customer360 deferred costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 45 | 33 |
Recoverable income taxes related to AFUDC equity | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 41 | 59 |
Other recoverable income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 26 | 57 |
Nuclear Performance Evaluation and Review Committee Tracker | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 22 | 0 |
Accrued PSCR/GCR revenue | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 17 | 22 |
Other | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 82 | 93 |
DTE Electric | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 3,055 | 3,149 |
Less amount included in Current Assets | (50) | (36) |
Regulatory assets, noncurrent | 3,005 | 3,113 |
DTE Electric | Pension | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,502 | 1,642 |
DTE Electric | Other postretirement costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 211 | 207 |
DTE Electric | Asset retirement obligation | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 569 | 613 |
DTE Electric | Removal costs asset | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 299 | 193 |
DTE Electric | Recoverable Michigan income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 171 | 187 |
DTE Electric | Deferred environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 0 | 0 |
DTE Electric | Unamortized loss on reacquired debt | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 46 | 39 |
DTE Electric | Transitional Reconciliation Mechanism | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 46 | 30 |
DTE Electric | Customer360 deferred costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 45 | 33 |
DTE Electric | Recoverable income taxes related to AFUDC equity | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 35 | 53 |
DTE Electric | Other recoverable income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 26 | 57 |
DTE Electric | Nuclear Performance Evaluation and Review Committee Tracker | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 22 | 0 |
DTE Electric | Accrued PSCR/GCR revenue | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 17 | 19 |
DTE Electric | Other | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 66 | $ 76 |
Regulatory Matters Regulatory M
Regulatory Matters Regulatory Matters (Schedule of Regulatory Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 2,893 | $ 589 |
Less amount included in Current Liabilities | (18) | (34) |
Regulatory liabilities, noncurrent | 2,875 | 555 |
Refundable federal income taxes | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 2,384 | 0 |
Removal costs liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 265 | 266 |
Renewable energy | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 112 | 145 |
Negative other postretirement offset | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 80 | 56 |
Negative pension offset | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 21 | 36 |
Fermi 2 refueling outage | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 15 | 27 |
Refundable self-implemented rates | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 2 | 27 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 14 | 32 |
DTE Electric | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 2,154 | 256 |
Less amount included in Current Liabilities | (17) | (27) |
Regulatory liabilities, noncurrent | 2,137 | 229 |
DTE Electric | Refundable federal income taxes | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 1,946 | 0 |
DTE Electric | Removal costs liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 0 |
DTE Electric | Renewable energy | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 112 | 145 |
DTE Electric | Negative other postretirement offset | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 67 | 55 |
DTE Electric | Negative pension offset | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 0 |
DTE Electric | Fermi 2 refueling outage | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 15 | 27 |
DTE Electric | Refundable self-implemented rates | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 2 | 27 |
DTE Electric | Other | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 12 | $ 2 |
Regulatory Matters (Details)
Regulatory Matters (Details) $ in Millions | Nov. 22, 2017USD ($) | Sep. 08, 2017USD ($) | Jul. 12, 2017USD ($) | Apr. 19, 2017USD ($) | Jan. 31, 2017USD ($) | Aug. 01, 2016USD ($) | Feb. 01, 2016USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017 | Jul. 31, 2017USD ($)certificateMW | Mar. 31, 2016USD ($) |
Regulatory Assets [Line Items] | |||||||||||
Deferral of investigation and remediation of costs associated with gas utilities former MGP sites | 10 years | ||||||||||
DTE Electric | MPSC | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Estimated recovery challenged amount | $ 13 | ||||||||||
Estimated recovery disallowed, including interest | $ 16 | ||||||||||
Amount of power associated with natural gas fueled combined cycle generation facility | MW | 1,100 | ||||||||||
Number of certificates of necessity requested to be issued | certificate | 3 | ||||||||||
Estimated capital costs | $ 989 | ||||||||||
DTE Electric | MPSC | Electric Rate Case Filing 2016 | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Requested rate increase | $ 344 | ||||||||||
Self-implemented base rate increase | $ 245 | ||||||||||
Approved annual revenue increase | $ 184 | ||||||||||
Return on equity, percent | 10.10% | ||||||||||
DTE Electric | MPSC | Electric Rate Case Filing 2017 | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Requested rate increase | $ 125 | $ 231 | |||||||||
Return on equity, percent | 10.10% | ||||||||||
Return on equity, requested percent | 10.50% | ||||||||||
DTE Gas | MPSC | DTE Gas Rate Case Filing 2017 | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Requested rate increase | $ 85.1 | ||||||||||
Return on equity, percent | 10.10% | ||||||||||
Return on equity, requested percent | 10.50% | ||||||||||
Refundable Self-Implemented Rates | DTE Electric | MPSC | Electric Rate Case Filing 2016 | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Authorized amount to be refunded to customers | $ 38.5 | ||||||||||
Customer360 deferred costs | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Approved amortization period | 15 years | ||||||||||
Nuclear Performance Evaluation and Review Committee Tracker | |||||||||||
Regulatory Assets [Line Items] | |||||||||||
Approved amortization period | 5 years |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Entity Information [Line Items] | |||
Deferred tax asset, general business tax credit carryforwards | $ 640 | ||
Deferred tax asset, alternative minimum tax credit carryforwards | $ 307 | ||
Tax credit carry forwards refundable period | 4 years | ||
State and local net operating loss carry-forwards | $ 70 | $ 59 | |
Valuation allowance | $ 40 | $ 36 | |
Statutory rate | 35.00% | 35.00% | 35.00% |
Adjustment to deferred tax liabilities related to Tax Cuts and Jobs Act of 2017 | $ 2,560 | ||
Unrecognized tax benefits that would impact effective tax rate | 8 | $ 8 | |
Interest on income taxes accrued | 3 | 3 | |
Interest on income taxes expense | 0 | 2 | $ 0 |
Federal | |||
Entity Information [Line Items] | |||
Operating loss carryforward | 397 | ||
DTE Electric | |||
Entity Information [Line Items] | |||
Income tax receivable from related party | 12 | 9 | |
State and local net operating loss carry-forwards | 5 | 1 | |
Valuation allowance | $ 0 | $ 0 | |
Statutory rate | 35.00% | 35.00% | 35.00% |
Unrecognized tax benefits that would impact effective tax rate | $ 10 | $ 10 | |
Interest on income taxes accrued | 4 | 4 | |
Interest on income taxes expense | 0 | $ 3 | $ 0 |
DTE Electric | General Business Credits | |||
Entity Information [Line Items] | |||
Tax credit carry-forward | 193 | ||
DTE Electric | Federal | |||
Entity Information [Line Items] | |||
Operating loss carryforward | 226 | ||
Refundable federal income taxes | |||
Entity Information [Line Items] | |||
Adjustment to deferred tax liabilities related to Tax Cuts and Jobs Act of 2017 | 2,450 | ||
Unregulated Operation | |||
Entity Information [Line Items] | |||
Adjustment to deferred tax liabilities related to Tax Cuts and Jobs Act of 2017 | $ 105 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Income Tax Expense to the Statutory Federal Income Tax Rate) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Entity Information [Line Items] | ||||
Statutory rate | 35.00% | 35.00% | 35.00% | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||
Income Before Income Taxes | $ 1,287 | $ 1,105 | $ 950 | |
Income tax expense at 35% statutory rate | 450 | 387 | 333 | |
Production tax credits | (189) | (145) | (122) | |
Investment tax credits | (4) | (5) | (7) | |
Depreciation | (4) | (4) | (4) | |
Noncontrolling interests | 8 | 12 | 2 | |
AFUDC equity | (18) | (10) | (8) | |
Employee Stock Ownership Plan dividends | (5) | (5) | (5) | |
Stock based compensation | (14) | 0 | 0 | |
Subsidiary stock loss | 0 | (10) | 0 | |
State and local income taxes, net of federal benefit | 51 | 58 | 35 | |
Enactment of the Tax Cuts and Jobs Act | $ (105) | (105) | 0 | 0 |
Other, net | 5 | (7) | 6 | |
Income Tax Expense | $ 175 | $ 271 | $ 230 | |
Effective income tax rate | 13.60% | 24.50% | 24.20% | |
DTE Electric | ||||
Entity Information [Line Items] | ||||
Statutory rate | 35.00% | 35.00% | 35.00% | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||
Income Before Income Taxes | $ 928 | $ 975 | $ 836 | |
Income tax expense at 35% statutory rate | 325 | 341 | 293 | |
Production tax credits | (36) | (30) | (31) | |
Investment tax credits | (4) | (4) | (5) | |
Depreciation | 3 | 3 | 3 | |
AFUDC equity | (5) | (6) | (7) | |
Employee Stock Ownership Plan dividends | (3) | (3) | (3) | |
State and local income taxes, net of federal benefit | 48 | 56 | 43 | |
Other, net | (1) | (4) | (1) | |
Income Tax Expense | $ 327 | $ 353 | $ 292 | |
Effective income tax rate | 35.20% | 36.20% | 34.90% |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current income tax expense (benefit) | |||
Federal | $ (22) | $ (1) | $ (3) |
State and other income tax | 1 | 7 | (4) |
Total current income taxes | (21) | 6 | (7) |
Deferred income tax expense | |||
Federal | 118 | 184 | 178 |
State and other income tax | 78 | 81 | 59 |
Total deferred income taxes | 196 | 265 | 237 |
Total | 175 | 271 | 230 |
DTE Electric | |||
Current income tax expense (benefit) | |||
Federal | (17) | 0 | (26) |
State and other income tax | (1) | 11 | (2) |
Total current income taxes | (18) | 11 | (28) |
Deferred income tax expense | |||
Federal | 270 | 268 | 252 |
State and other income tax | 75 | 74 | 68 |
Total deferred income taxes | 345 | 342 | 320 |
Total | $ 327 | $ 353 | $ 292 |
Income Taxes (Deferred Tax Asse
Income Taxes (Deferred Tax Assets (Liabilities)) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property, plant, and equipment | $ (3,276) | $ (4,880) |
Regulatory assets and liabilities | (94) | (879) |
Tax credit carry-forwards | 947 | 643 |
Pension and benefits | 334 | 643 |
Federal net operating loss carry-forward | 83 | 190 |
State and local net operating loss carry-forwards | 70 | 59 |
Investments in equity method investees | (82) | (119) |
Other | 170 | 217 |
Deferred tax liabilities, gross | (1,848) | (4,126) |
Less valuation allowance | (40) | (36) |
Deferred income tax liabilities | (1,888) | (4,162) |
Deferred income tax assets | 1,814 | 1,463 |
Deferred income tax liabilities | (3,702) | (5,625) |
DTE Electric | ||
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property, plant, and equipment | (2,698) | (3,819) |
Regulatory assets and liabilities | (31) | (778) |
Tax credit carry-forwards | 193 | 116 |
Pension and benefits | 302 | 518 |
Federal net operating loss carry-forward | 47 | 42 |
State and local net operating loss carry-forwards | 5 | 1 |
Investments in equity method investees | 0 | 0 |
Other | 94 | 127 |
Deferred tax liabilities, gross | (2,088) | (3,793) |
Less valuation allowance | 0 | 0 |
Deferred income tax liabilities | (2,088) | (3,793) |
Deferred income tax assets | 830 | 569 |
Deferred income tax liabilities | $ (2,918) | $ (4,362) |
Income Taxes (Reconciliation 89
Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits, beginning balance | $ 10 | $ 3 | $ 9 |
Additions for tax positions of prior years | 0 | 7 | 0 |
Lapse of statute of limitations | 0 | 0 | (6) |
Unrecognized tax benefits, ending balance | 10 | 10 | 3 |
DTE Electric | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits, beginning balance | 13 | 4 | 4 |
Additions for tax positions of prior years | 0 | 9 | 0 |
Unrecognized tax benefits, ending balance | $ 13 | $ 13 | $ 4 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Basic Earnings per Share | |||||||||||
Net Income Attributable to DTE Energy Company | $ 287 | $ 270 | $ 177 | $ 400 | $ 131 | $ 338 | $ 152 | $ 247 | $ 1,134 | $ 868 | $ 727 |
Less: Allocation of earnings to net restricted stock awards | (2) | (2) | (2) | ||||||||
Net income available to common shareholders — basic | $ 1,132 | $ 866 | $ 725 | ||||||||
Average number of common shares outstanding (in shares) | 179 | 179 | 179 | ||||||||
Basic Earnings per Common Share (in dollars per share) | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 0.73 | $ 1.88 | $ 0.84 | $ 1.38 | $ 6.32 | $ 4.84 | $ 4.05 |
Diluted Earnings per Share | |||||||||||
Net Income Attributable to DTE Energy Company | $ 287 | $ 270 | $ 177 | $ 400 | $ 131 | $ 338 | $ 152 | $ 247 | $ 1,134 | $ 868 | $ 727 |
Less: Allocation of earnings to net restricted stock awards | (2) | (2) | (2) | ||||||||
Net income available to common shareholders — diluted | $ 1,132 | $ 866 | $ 725 | ||||||||
Average number of common shares outstanding (in shares) | 179 | 179 | 179 | ||||||||
Diluted Earnings per Common Share (in dollars per share) | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 0.73 | $ 1.88 | $ 0.84 | $ 1.37 | $ 6.32 | $ 4.83 | $ 4.05 |
Incremental common shares attributable to dilutive effect of equity units (in shares) | 6 | 7.1 |
Fair Value (Assets and Liabilit
Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative assets | ||
Derivative assets, gross | $ 652 | $ 549 |
Derivative assets, netting | (498) | (468) |
Derivative assets, net | 154 | 81 |
LIABILITIES | ||
Derivative liabilities, gross | (657) | (656) |
Derivative liabilities, netting | 511 | 489 |
Derivative liabilities, net | (146) | (167) |
Current liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (558) | (493) |
Noncurrent liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (99) | (163) |
Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 357 | 348 |
Derivative assets, netting | (256) | (306) |
Derivative assets, net | 101 | 42 |
LIABILITIES | ||
Derivative liabilities, gross | (378) | (461) |
Derivative liabilities, netting | 263 | 321 |
Derivative liabilities, net | (115) | (140) |
Electricity | ||
Derivative assets | ||
Derivative assets, gross | 285 | 193 |
Derivative assets, netting | (241) | (157) |
Derivative assets, net | 44 | 36 |
LIABILITIES | ||
Derivative liabilities, gross | (275) | (189) |
Derivative liabilities, netting | 246 | 163 |
Derivative liabilities, net | (29) | (26) |
Other | ||
Derivative assets | ||
Derivative assets, gross | 9 | 2 |
Derivative assets, netting | 0 | 0 |
Derivative assets, net | 9 | 2 |
LIABILITIES | ||
Derivative liabilities, gross | (1) | (3) |
Derivative liabilities, netting | 1 | 2 |
Derivative liabilities, net | 0 | (1) |
Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, gross | 1 | 6 |
Derivative assets, netting | (1) | (5) |
Derivative assets, net | 0 | 1 |
LIABILITIES | ||
Derivative liabilities, gross | (3) | (3) |
Derivative liabilities, netting | 1 | 3 |
Derivative liabilities, net | (2) | 0 |
Recurring | ||
ASSETS | ||
Cash and cash equivalents | 19 | 17 |
Derivative assets | ||
Derivative assets, netting | (498) | (468) |
Derivative assets, net | 154 | 81 |
Total assets | 1,859 | 1,583 |
Private equity securities | 5 | |
LIABILITIES | ||
Derivative liabilities, netting | 511 | 489 |
Derivative liabilities, net | (146) | (167) |
Net Assets (Liabilities) at end of period | 1,713 | 1,416 |
Net Assets (Liabilities) at the end of the period, netting | 13 | 21 |
Recurring | DTE Electric | ||
ASSETS | ||
Cash and cash equivalents | 11 | 11 |
Derivative assets | ||
Total assets | 1,523 | 1,342 |
Private equity securities | 5 | |
Recurring | Current asset | ||
Derivative assets | ||
Derivative assets, netting | (437) | (400) |
Total assets | 122 | 64 |
Recurring | Current asset | DTE Electric | ||
Derivative assets | ||
Total assets | 20 | 13 |
Recurring | Noncurrent asset | ||
Derivative assets | ||
Derivative assets, netting | (61) | (68) |
Total assets | 1,737 | 1,519 |
Private equity securities | 5 | |
Recurring | Noncurrent asset | DTE Electric | ||
Derivative assets | ||
Total assets | 1,503 | 1,329 |
Private equity securities | 5 | |
Recurring | Current liabilities | ||
LIABILITIES | ||
Derivative liabilities, netting | 459 | 424 |
Derivative liabilities, net | (99) | (69) |
Recurring | Noncurrent liabilities | ||
LIABILITIES | ||
Derivative liabilities, netting | 52 | 65 |
Derivative liabilities, net | (47) | (98) |
Recurring | Restricted assets | ||
ASSETS | ||
Cash and cash equivalents | 8 | 7 |
Recurring | Other | ||
ASSETS | ||
Cash and cash equivalents | 11 | 10 |
Recurring | Other | DTE Electric | ||
ASSETS | ||
Cash and cash equivalents | 11 | 11 |
Recurring | Natural Gas | ||
Derivative assets | ||
Derivative assets, netting | (256) | (306) |
Derivative assets, net | 101 | 42 |
LIABILITIES | ||
Derivative liabilities, netting | 263 | 321 |
Derivative liabilities, net | (115) | (140) |
Recurring | Electricity | ||
Derivative assets | ||
Derivative assets, netting | (241) | (157) |
Derivative assets, net | 44 | 36 |
LIABILITIES | ||
Derivative liabilities, netting | 246 | 163 |
Derivative liabilities, net | (29) | (26) |
Recurring | Other | ||
Derivative assets | ||
Derivative assets, netting | 0 | 0 |
Derivative assets, net | 9 | 2 |
LIABILITIES | ||
Derivative liabilities, netting | 1 | 2 |
Derivative liabilities, net | 0 | (1) |
Recurring | Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, netting | (1) | (5) |
Derivative assets, net | 0 | 1 |
LIABILITIES | ||
Derivative liabilities, netting | 1 | 3 |
Derivative liabilities, net | (2) | 0 |
Recurring | Derivative assets — FTRs | DTE Electric | ||
Derivative assets | ||
Derivative assets, net | 9 | 2 |
Recurring | Cash equivalents | ||
ASSETS | ||
Nuclear decommissioning trusts | 14 | 8 |
Other investments | 4 | 3 |
Recurring | Cash equivalents | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 14 | 8 |
Recurring | Private equity securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 5 | 0 |
Derivative assets | ||
Private equity securities | 5 | |
Recurring | Private equity securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 5 | 0 |
Derivative assets | ||
Private equity securities | 5 | |
Recurring | Equity securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 978 | 887 |
Other investments | 118 | 104 |
Recurring | Equity securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 978 | 887 |
Other investments | 11 | 9 |
Recurring | Fixed Income Securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 495 | 425 |
Other investments | 72 | 58 |
Recurring | Fixed Income Securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 495 | 425 |
Recurring | Level 1 | ||
ASSETS | ||
Cash and cash equivalents | 16 | 14 |
Derivative assets | ||
Derivative assets, gross | 148 | 216 |
Total assets | 1,368 | 1,301 |
LIABILITIES | ||
Derivative liabilities, gross | (141) | (226) |
Net Assets (Liabilities) at end of period | 1,227 | 1,075 |
Recurring | Level 1 | DTE Electric | ||
ASSETS | ||
Cash and cash equivalents | 8 | 8 |
Derivative assets | ||
Total assets | 1,029 | 923 |
Recurring | Level 1 | Current asset | ||
Derivative assets | ||
Total assets | 157 | 205 |
Recurring | Level 1 | Current asset | DTE Electric | ||
Derivative assets | ||
Total assets | 8 | 8 |
Recurring | Level 1 | Noncurrent asset | ||
Derivative assets | ||
Total assets | 1,211 | 1,096 |
Recurring | Level 1 | Noncurrent asset | DTE Electric | ||
Derivative assets | ||
Total assets | 1,021 | 915 |
Recurring | Level 1 | Current liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (137) | (203) |
Recurring | Level 1 | Noncurrent liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (4) | (23) |
Recurring | Level 1 | Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 148 | 216 |
LIABILITIES | ||
Derivative liabilities, gross | (141) | (226) |
Recurring | Level 1 | Electricity | ||
Derivative assets | ||
Derivative assets, gross | 0 | 0 |
LIABILITIES | ||
Derivative liabilities, gross | 0 | 0 |
Recurring | Level 1 | Other | ||
Derivative assets | ||
Derivative assets, gross | 0 | 0 |
LIABILITIES | ||
Derivative liabilities, gross | 0 | 0 |
Recurring | Level 1 | Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, gross | 0 | 0 |
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 | 14 | 8 |
Other investments | 4 | 3 |
Recurring | Level 1 | Cash equivalents | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 14 | 8 |
Recurring | Level 1 | Private equity securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 1 | Private equity securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 1 | Equity securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 978 | 887 |
Other investments | 118 | 104 |
Recurring | Level 1 | Equity securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 978 | 887 |
Other investments | 11 | 9 |
Recurring | Level 1 | Fixed Income Securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 18 | 11 |
Other investments | 72 | 58 |
Recurring | Level 1 | Fixed Income Securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 18 | 11 |
Recurring | Level 2 | ||
ASSETS | ||
Cash and cash equivalents | 3 | 3 |
Derivative assets | ||
Derivative assets, gross | 356 | 239 |
Total assets | 836 | 656 |
LIABILITIES | ||
Derivative liabilities, gross | (359) | (248) |
Net Assets (Liabilities) at end of period | 477 | 408 |
Recurring | Level 2 | DTE Electric | ||
ASSETS | ||
Cash and cash equivalents | 3 | 3 |
Derivative assets | ||
Total assets | 480 | 417 |
Recurring | Level 2 | Current asset | ||
Derivative assets | ||
Total assets | 298 | 199 |
Recurring | Level 2 | Current asset | DTE Electric | ||
Derivative assets | ||
Total assets | 3 | 3 |
Recurring | Level 2 | Noncurrent asset | ||
Derivative assets | ||
Total assets | 538 | 457 |
Recurring | Level 2 | Noncurrent asset | DTE Electric | ||
Derivative assets | ||
Total assets | 477 | 414 |
Recurring | Level 2 | Current liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (313) | (211) |
Recurring | Level 2 | Noncurrent liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (46) | (37) |
Recurring | Level 2 | Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 112 | 79 |
LIABILITIES | ||
Derivative liabilities, gross | (111) | (86) |
Recurring | Level 2 | Electricity | ||
Derivative assets | ||
Derivative assets, gross | 243 | 154 |
LIABILITIES | ||
Derivative liabilities, gross | (245) | (159) |
Recurring | Level 2 | Other | ||
Derivative assets | ||
Derivative assets, gross | 0 | 0 |
LIABILITIES | ||
Derivative liabilities, gross | 0 | 0 |
Recurring | Level 2 | Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, gross | 1 | 6 |
LIABILITIES | ||
Derivative liabilities, gross | (3) | (3) |
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 |
Recurring | Level 2 | Private equity securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 2 | Private equity securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 0 | 0 |
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 | 477 | 414 |
Other investments | 0 | 0 |
Recurring | Level 2 | Fixed Income Securities | DTE Electric | ||
ASSETS | ||
Nuclear decommissioning trusts | 477 | 414 |
Recurring | Level 3 | ||
ASSETS | ||
Cash and cash equivalents | 0 | 0 |
Derivative assets | ||
Derivative assets, gross | 148 | 94 |
Total assets | 148 | 94 |
LIABILITIES | ||
Derivative liabilities, gross | (157) | (182) |
Net Assets (Liabilities) at end of period | (9) | (88) |
Recurring | Level 3 | DTE Electric | ||
ASSETS | ||
Cash and cash equivalents | 0 | 0 |
Derivative assets | ||
Total assets | 9 | 2 |
Recurring | Level 3 | Current asset | ||
Derivative assets | ||
Total assets | 104 | 60 |
Recurring | Level 3 | Current asset | DTE Electric | ||
Derivative assets | ||
Total assets | 9 | 2 |
Recurring | Level 3 | Noncurrent asset | ||
Derivative assets | ||
Total assets | 44 | 34 |
Recurring | Level 3 | Noncurrent asset | DTE Electric | ||
Derivative assets | ||
Total assets | 0 | 0 |
Recurring | Level 3 | Current liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (108) | (79) |
Recurring | Level 3 | Noncurrent liabilities | ||
LIABILITIES | ||
Derivative liabilities, gross | (49) | (103) |
Recurring | Level 3 | Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 97 | 53 |
LIABILITIES | ||
Derivative liabilities, gross | (126) | (149) |
Recurring | Level 3 | Electricity | ||
Derivative assets | ||
Derivative assets, gross | 42 | 39 |
LIABILITIES | ||
Derivative liabilities, gross | (30) | (30) |
Recurring | Level 3 | Other | ||
Derivative assets | ||
Derivative assets, gross | 9 | 2 |
LIABILITIES | ||
Derivative liabilities, gross | (1) | (3) |
Recurring | Level 3 | Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, gross | 0 | 0 |
LIABILITIES | ||
Derivative liabilities, gross | 0 | 0 |
Recurring | Level 3 | Derivative assets — FTRs | DTE Electric | ||
Derivative assets | ||
Derivative assets, net | 9 | 2 |
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 |
Recurring | Level 3 | Private equity securities | ||
ASSETS | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 3 | Private equity securities | 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 |
Fair Value (Reconciliation of L
Fair Value (Reconciliation of Level 3 Assets and Liabilities at Fair Value on a Recurring Basis) (Details) - Recurring - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | $ (88) | $ (4) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | 0 |
Total gains (losses) | ||
Included in earnings | 82 | (160) |
Recorded in Regulatory liabilities | 25 | 6 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 1 |
Settlements | (28) | 69 |
Net Assets (Liabilities) as of December 31 | (9) | (88) |
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 21 | (157) |
Natural Gas | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | (96) | (5) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | 0 |
Total gains (losses) | ||
Included in earnings | (29) | (159) |
Recorded in Regulatory liabilities | 0 | 0 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Settlements | 96 | 68 |
Net Assets (Liabilities) as of December 31 | (29) | (96) |
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (30) | (166) |
Electricity | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | 9 | 6 |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | 0 |
Total gains (losses) | ||
Included in earnings | 109 | (2) |
Recorded in Regulatory liabilities | 0 | 0 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 1 |
Settlements | (106) | 4 |
Net Assets (Liabilities) as of December 31 | 12 | 9 |
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 50 | 7 |
Other | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | (1) | (5) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | 0 |
Total gains (losses) | ||
Included in earnings | 2 | 1 |
Recorded in Regulatory liabilities | 25 | 6 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Settlements | (18) | (3) |
Net Assets (Liabilities) as of December 31 | 8 | (1) |
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 1 | 2 |
DTE Electric | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | 2 | 3 |
Total gains (losses) | ||
Recorded in Regulatory liabilities | 25 | 6 |
Purchases, issuances, and settlements: | ||
Settlements | (18) | (7) |
Net Assets (Liabilities) as of December 31 | 9 | 2 |
The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2017 and 2016 and reflected in DTE Electric's Consolidated Statements of Financial Position | $ 9 | $ 2 |
Fair Value (Unobservable Inputs
Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2017USD ($)$ / MMBTU$ / MWh | Dec. 31, 2016USD ($)$ / MMBTU$ / MWh | |
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | $ 652 | $ 549 |
Derivative Liabilities | (657) | (656) |
Natural Gas | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 357 | 348 |
Derivative Liabilities | (378) | (461) |
Electricity | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 285 | 193 |
Derivative Liabilities | $ (275) | $ (189) |
Level 3 | Discounted Cash Flow | Natural Gas | Minimum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | (1.10) | (1) |
Level 3 | Discounted Cash Flow | Natural Gas | Maximum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | 9.75 | 7.90 |
Level 3 | Discounted Cash Flow | Natural Gas | Weighted Average | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | (0.03) | (0.05) |
Level 3 | Discounted Cash Flow | Electricity | Minimum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | (5) | (6) |
Level 3 | Discounted Cash Flow | Electricity | Maximum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | 15 | 12 |
Level 3 | Discounted Cash Flow | Electricity | Weighted Average | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | 2 | 1 |
Recurring | Level 3 | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | $ 148 | $ 94 |
Derivative Liabilities | (157) | (182) |
Recurring | Level 3 | Natural Gas | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 97 | 53 |
Derivative Liabilities | (126) | (149) |
Recurring | Level 3 | Electricity | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 42 | 39 |
Derivative Liabilities | $ (30) | $ (30) |
Fair Value (Fair Value of Finan
Fair Value (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable(a), excluding capital leases | $ 38 | $ 36 |
Dividends payable | 158 | 148 |
Short-term borrowings | 621 | 499 |
Notes payable — Other | 12 | 17 |
Long-term debt | 12,288 | 11,270 |
Carrying Amount | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable(a), excluding capital leases | 0 | 5 |
Short-term borrowings | 238 | 62 |
Notes payable — Other | 2 | 6 |
Long-term debt | 6,017 | 5,878 |
Carrying Amount | DTE Electric | Affiliated entity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term borrowings | 116 | 117 |
Fair Value | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable(a), excluding capital leases | 0 | 0 |
Dividends payable | 158 | 148 |
Short-term borrowings | 0 | 0 |
Notes payable — Other | 0 | 0 |
Long-term debt | 1,939 | 1,465 |
Fair Value | Level 1 | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable(a), excluding capital leases | 0 | 0 |
Short-term borrowings | 0 | 0 |
Notes payable — Other | 0 | 0 |
Long-term debt | 0 | 0 |
Fair Value | Level 1 | DTE Electric | Affiliated entity | ||
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(a), excluding capital leases | 0 | 0 |
Dividends payable | 0 | 0 |
Short-term borrowings | 621 | 499 |
Notes payable — Other | 0 | 0 |
Long-term debt | 10,571 | 9,384 |
Fair Value | Level 2 | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable(a), excluding capital leases | 0 | 0 |
Short-term borrowings | 238 | 62 |
Notes payable — Other | 0 | 0 |
Long-term debt | 6,441 | 6,026 |
Fair Value | Level 2 | DTE Electric | Affiliated entity | ||
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(a), excluding capital leases | 38 | 36 |
Dividends payable | 0 | 0 |
Short-term borrowings | 0 | 0 |
Notes payable — Other | 12 | 17 |
Long-term debt | 764 | 1,056 |
Fair Value | Level 3 | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable(a), excluding capital leases | 0 | 5 |
Short-term borrowings | 0 | 0 |
Notes payable — Other | 2 | 6 |
Long-term debt | 171 | 264 |
Fair Value | Level 3 | DTE Electric | Affiliated entity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term borrowings | $ 116 | $ 117 |
Fair Value (Fair Value of Nucle
Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | $ 1,492 | $ 1,320 |
DTE Electric | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 1,492 | 1,320 |
DTE Electric | Nuclear decommissioning trusts | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 1,492 | 1,320 |
DTE Electric | Nuclear decommissioning trusts | Fermi 2 | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 1,475 | 1,291 |
DTE Electric | Nuclear decommissioning trusts | Fermi 1 | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 3 | 3 |
DTE Electric | Nuclear decommissioning trusts | Low-level radioactive waste | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | $ 14 | $ 26 |
Fair Value (Gains and Losses an
Fair Value (Gains and Losses and Proceeds from the Sale of Securities by the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - Nuclear decommissioning trusts - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Realized gains | $ 83 | $ 74 | $ 39 |
Realized losses | (29) | (63) | (33) |
Proceeds from sale of securities | $ 1,240 | $ 1,457 | $ 885 |
Fair Value (Fair Value and Unre
Fair Value (Fair Value and Unrealized Gains and Losses for the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - Nuclear decommissioning trusts - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Equity securities, fair value | $ 978 | $ 887 |
Fixed income securities, fair value | 495 | 425 |
Private equity securities | 5 | 0 |
Cash equivalents, fair value | 14 | 8 |
Fair Value | 1,492 | 1,320 |
Equity securities, unrealized gain | 320 | 222 |
Fixed income securities, unrealized gain | 13 | 11 |
Unrealized Gains | 333 | 233 |
Equity securities, unrealized loss | (32) | (46) |
Fixed income securities, unrealized loss | (3) | (5) |
Unrealized Losses | $ (35) | $ (51) |
Fair Value (Fair Value of Fixed
Fair Value (Fair Value of Fixed Income Securities Held in Nuclear Decommissioning Trust Funds (Details) - Nuclear decommissioning trusts - Fixed Income Securities $ in Millions | Dec. 31, 2017USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
Due within one year | $ 23 |
Due after one through five years | 102 |
Due after five through ten years | 115 |
Due after ten years | 255 |
Fixed income securities total | $ 495 |
Fair Value (Details)
Fair Value (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains from trading securities | $ 26,000,000 | $ 15,000,000 | $ 1,000,000 |
Accumulated net unrealized investment gain (loss) | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Unrealized losses on available-for-sale securities reclassified out of other comprehensive income (loss) | 0 | 0 | |
DTE Electric | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains from trading securities | 26,000,000 | 15,000,000 | $ 1,000,000 |
DTE Electric | Accumulated net unrealized investment gain (loss) | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Unrealized losses on available-for-sale securities reclassified out of other comprehensive income (loss) | $ 0 | $ 0 |
Financial and Other Derivati100
Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 652 | $ 549 |
Derivative Liabilities | (657) | (656) |
Natural Gas | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 357 | 348 |
Derivative Liabilities | (378) | (461) |
Electricity | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 285 | 193 |
Derivative Liabilities | (275) | (189) |
Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 9 | 2 |
Derivative Liabilities | (1) | (3) |
Foreign currency exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 1 | 6 |
Derivative Liabilities | (3) | (3) |
Not designated as hedging instruments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 652 | 549 |
Derivative Liabilities | (657) | (656) |
Not designated as hedging instruments | Natural Gas | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 357 | 348 |
Derivative Liabilities | (378) | (461) |
Not designated as hedging instruments | Electricity | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 285 | 193 |
Derivative Liabilities | (275) | (189) |
Not designated as hedging instruments | Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 9 | 2 |
Derivative Liabilities | (1) | (3) |
Not designated as hedging instruments | Foreign currency exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 1 | 6 |
Derivative Liabilities | (3) | (3) |
Current derivative asset | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 540 | 447 |
Noncurrent derivative asset | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 112 | 102 |
Current derivative liability | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (558) | (493) |
Noncurrent derivative liability | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (99) | (163) |
DTE Electric | Not designated as hedging instruments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 9 | 2 |
DTE Electric | Not designated as hedging instruments | FTRs — Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 9 | $ 2 |
Financial and Other Derivati101
Financial and Other Derivative Instruments (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Letters of credit that could be used to offset net derivative liabilities | $ 4,000,000 | $ 2,000,000 |
Letters of credit that could be used to offset net derivative assets | 4,000,000 | 2,000,000 |
Cash collateral posted, net of cash collateral received | 28,000,000 | 34,000,000 |
Collateral adjustment on derivative assets | 9,000,000 | 7,000,000 |
Collateral adjustment on derivative liabilities | 22,000,000 | 28,000,000 |
Cash collateral paid | 18,000,000 | 18,000,000 |
Cash collateral received | 3,000,000 | $ 5,000,000 |
Additional collateral, aggregate fair value | 456,000,000 | |
Derivative net liability position aggregate fair value | 535,000,000 | |
Collateral already posted fair value | 0 | |
Derivative, net asset position, fair value | 468,000,000 | |
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions | $ 67,000,000 |
Financial and Other Derivati102
Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets (Liabilities) | $ 652 | $ 549 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (498) | (468) |
Derivative assets, net | 154 | 81 |
Gross Amounts of Recognized Assets (Liabilities) | (657) | (656) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 511 | 489 |
Derivative liabilities, net | (146) | (167) |
Natural Gas | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets (Liabilities) | 357 | 348 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (256) | (306) |
Derivative assets, net | 101 | 42 |
Gross Amounts of Recognized Assets (Liabilities) | (378) | (461) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 263 | 321 |
Derivative liabilities, net | (115) | (140) |
Electricity | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets (Liabilities) | 285 | 193 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (241) | (157) |
Derivative assets, net | 44 | 36 |
Gross Amounts of Recognized Assets (Liabilities) | (275) | (189) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 246 | 163 |
Derivative liabilities, net | (29) | (26) |
Other | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets (Liabilities) | 9 | 2 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 0 | 0 |
Derivative assets, net | 9 | 2 |
Gross Amounts of Recognized Assets (Liabilities) | (1) | (3) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 1 | 2 |
Derivative liabilities, net | 0 | (1) |
Foreign currency exchange contracts | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets (Liabilities) | 1 | 6 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (1) | (5) |
Derivative assets, net | 0 | 1 |
Gross Amounts of Recognized Assets (Liabilities) | (3) | (3) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 1 | 3 |
Derivative liabilities, net | $ (2) | $ 0 |
Financial and Other Derivati103
Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative Assets: | ||
Derivative Assets | $ 652 | $ 549 |
Collateral adjustment | (9) | (7) |
Derivative asset, current | 103 | 47 |
Derivative assets, noncurrent | 51 | 34 |
Derivative Liabilities: | ||
Derivative Liabilities | (657) | (656) |
Counterparty netting | 22 | 28 |
Derivative liabilities, current | (99) | (69) |
Derivative liabilities, noncurrent | (47) | (98) |
Current derivative asset | ||
Derivative Assets: | ||
Derivative Assets | 540 | 447 |
Counterparty netting | (437) | (396) |
Collateral adjustment | 0 | (4) |
Derivative asset, current | 103 | 47 |
Noncurrent derivative asset | ||
Derivative Assets: | ||
Derivative Assets | 112 | 102 |
Counterparty netting | (52) | (65) |
Collateral adjustment | (9) | (3) |
Derivative assets, noncurrent | 51 | 34 |
Current derivative liability | ||
Derivative Liabilities: | ||
Derivative Liabilities | (558) | (493) |
Collateral adjustment | 437 | 396 |
Counterparty netting | 22 | 28 |
Derivative liabilities, current | (99) | (69) |
Noncurrent derivative liability | ||
Derivative Liabilities: | ||
Derivative Liabilities | (99) | (163) |
Collateral adjustment | 52 | 65 |
Counterparty netting | 0 | 0 |
Derivative liabilities, noncurrent | $ (47) | $ (98) |
Financial and Other Derivati104
Financial and Other Derivative Instruments (Effect of Derivatives not Designated as Hedging Instruments on the Consolidated Statement of Operations) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | $ 128 | $ (109) |
Natural Gas | Operating Revenues — Non-utility operations | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | (74) | (153) |
Natural Gas | Fuel, purchased power, and gas — non-utility | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | 97 | (2) |
Electricity | Operating Revenues — Non-utility operations | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | 105 | 43 |
Other | Operating Revenues — Non-utility operations | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | 2 | 5 |
Foreign currency exchange contracts | Operating Revenues — Non-utility operations | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | $ (2) | $ (2) |
Financial and Other Derivati105
Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details) | 12 Months Ended |
Dec. 31, 2017CADMWhMMBTU | |
Natural Gas (MMBtu) | |
Derivative [Line Items] | |
Commodity | MMBTU | 1,822,796,301 |
Electricity (MWh) | |
Derivative [Line Items] | |
Commodity | MWh | 29,715,268 |
Foreign Currency Exchange (Canadian dollars) | |
Derivative [Line Items] | |
Foreign Currency Exchange (Canadian dollars) | CAD | CAD 108,023,948 |
Long-Term Debt (Long Term Debt
Long-Term Debt (Long Term Debt Outstanding and Weighted Average Interest Rates) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Long-term debt, excluding current maturities | $ 11,039 | $ 10,506 |
Long-term debt, total | 12,407 | |
Other long-term debt | ||
Debt Instrument [Line Items] | ||
Long-term debt, gross | 7 | 92 |
Secured debt, unsecured debt, mortgage notes and other debt | ||
Debt Instrument [Line Items] | ||
Long-term debt, gross | 11,227 | 10,592 |
Unamortized debt discount and premium, net | (15) | (10) |
Unamortized debt issuance costs | (69) | (67) |
Long-term debt due within one year | (104) | (9) |
Long-term debt, excluding current maturities | $ 11,039 | 10,506 |
Junior subordinated debentures | ||
Debt Instrument [Line Items] | ||
Interest rate | 5.50% | |
Long-term debt, gross | $ 1,180 | 780 |
Unamortized debt issuance costs | (35) | (24) |
Long-term debt, total | 1,145 | 756 |
DTE Electric | ||
Debt Instrument [Line Items] | ||
Long-term debt, gross | 6,065 | 5,925 |
Long-term debt, excluding current maturities | 6,017 | 5,878 |
Long-term debt, total | $ 6,065 | |
DTE Electric | Secured debt | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.30% | |
Long-term debt, gross | $ 5,755 | 5,615 |
DTE Electric | Tax-exempt revenue bonds | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.30% | |
Long-term debt, gross | $ 310 | 310 |
DTE Electric | Secured debt, unsecured debt, mortgage notes and other debt | ||
Debt Instrument [Line Items] | ||
Unamortized debt discount and premium, net | (10) | (10) |
Unamortized debt issuance costs | $ (38) | (37) |
DTE Gas | Secured debt | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.80% | |
Long-term debt, gross | $ 1,330 | 1,250 |
DTE Energy | Unsecured debt | ||
Debt Instrument [Line Items] | ||
Interest rate | 3.10% | |
Long-term debt, gross | $ 3,825 | $ 3,325 |
Long-Term Debt (Debt Issuances)
Long-Term Debt (Debt Issuances) (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Debt Instrument [Line Items] | |
Amount | $ 1,420,000,000 |
Debt redeemed | $ 385,000,000 |
Junior subordinated debentures | 5.25% junior subordinated debentures due 2077 | |
Debt Instrument [Line Items] | |
Interest Rate | 5.25% |
DTE Electric | Senior Notes | 5.60% Senior Notes Due 2018 | |
Debt Instrument [Line Items] | |
Interest Rate | 5.60% |
Debt redeemed | $ 300,000,000 |
DTE Electric | Mortgage Bonds | August 2017 3.75% General and Refunding Mortgage Bonds maturing in 2047 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.75% |
Amount | $ 440,000,000 |
DTE Gas | Mortgage Bonds | September 2017 3.08% First Mortgage Bonds maturing 2029 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.08% |
Amount | $ 40,000,000 |
DTE Gas | Mortgage Bonds | September 2017 3.75% First Mortgage Bonds maturing 2047 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.75% |
Amount | $ 40,000,000 |
DTE Energy | Senior Notes | March 2017 3.80% Senior Notes due 2027 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.80% |
Amount | $ 500,000,000 |
DTE Energy | Junior subordinated debentures | 5.25% junior subordinated debentures due 2077 | |
Debt Instrument [Line Items] | |
Interest Rate | 5.25% |
Amount | $ 400,000,000 |
Long-Term Debt (Debt Redemption
Long-Term Debt (Debt Redemptions) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Debt Instrument, Redemption [Line Items] | |
Amount | $ 385 |
DTE Energy | Secured Note | 7.29% Secured Note due 2029 | |
Debt Instrument, Redemption [Line Items] | |
Interest Rate | 7.29% |
Amount | $ 77 |
DTE Energy | Other Long-Term Debt | |
Debt Instrument, Redemption [Line Items] | |
Amount | 8 |
DTE Energy | Other Long-Term Debt | Gas Storage and Pipelines | |
Debt Instrument, Redemption [Line Items] | |
Net loss on extinguishment of debt | 16 |
Loss related to early redemption premiums | 20 |
Unamortized debt premiums | $ 4 |
DTE Electric | Senior Notes | 5.60% Senior Notes Due 2018 | |
Debt Instrument, Redemption [Line Items] | |
Interest Rate | 5.60% |
Amount | $ 300 |
Long-Term Debt (Scheduled Debt
Long-Term Debt (Scheduled Debt Maturities) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Maturities of Long-term Debt [Abstract] | |
2,018 | $ 104 |
2,019 | 1,497 |
2,020 | 683 |
2,021 | 462 |
2,022 | 616 |
2023 and Thereafter | 9,045 |
Long-term debt, total | 12,407 |
DTE Electric | |
Maturities of Long-term Debt [Abstract] | |
2,018 | 0 |
2,019 | 0 |
2,020 | 632 |
2,021 | 462 |
2,022 | 316 |
2023 and Thereafter | 4,655 |
Long-term debt, total | $ 6,065 |
Long-Term Debt Long Term Debt (
Long-Term Debt Long Term Debt (Junior Subordinated Debt and Interest Rates) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Junior subordinated debentures | $ 1,145 | $ 756 |
Junior subordinated debentures | ||
Debt Instrument [Line Items] | ||
Junior subordinated debentures | $ 1,180 | |
Junior subordinated debentures | 5.25% junior subordinated debentures due 2062 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.25% | |
Junior subordinated debentures | $ 200 | |
Junior subordinated debentures | May 5.375% junior subordinated debentures maturing in 2076 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.375% | |
Junior subordinated debentures | $ 300 | |
Junior subordinated debentures | 6% junior subordinated debentures maturing 2076 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.00% | |
Junior subordinated debentures | $ 280 | |
Junior subordinated debentures | 5.25% junior subordinated debentures due 2077 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.25% | |
Junior subordinated debentures | $ 400 |
Long-Term Debt (Details)
Long-Term Debt (Details) $ / shares in Units, shares in Millions | Jan. 01, 2017$ / shares | Oct. 05, 2016USD ($) | Oct. 31, 2016USD ($)day$ / shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($) | Oct. 31, 2019shares |
Debt Instrument [Line Items] | ||||||
Face amount | $ 1,420,000,000 | |||||
Junior subordinated debentures | 1,145,000,000 | $ 756,000,000 | ||||
Equity units, percentage interest in attached debt instrument | 0.005% | |||||
Financial instruments subject to mandatory redemption, settlement terms, share value, amount | $ 98,000,000 | |||||
Junior subordinated debentures | ||||||
Debt Instrument [Line Items] | ||||||
Junior subordinated debentures | $ 1,180,000,000 | |||||
Interest rate | 5.50% | |||||
5.25% junior subordinated debentures due 2062 | Junior subordinated debentures | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 5.25% | |||||
Junior subordinated debentures | $ 200,000,000 | |||||
May 5.375% junior subordinated debentures maturing in 2076 | Junior subordinated debentures | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 5.375% | |||||
Junior subordinated debentures | $ 300,000,000 | |||||
6% junior subordinated debentures maturing 2076 | Junior subordinated debentures | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 6.00% | |||||
Junior subordinated debentures | $ 280,000,000 | |||||
5.25% junior subordinated debentures due 2077 | Junior subordinated debentures | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 5.25% | |||||
Junior subordinated debentures | $ 400,000,000 | |||||
October series C 1.5% RSNs maturing 2024 | Other long-term debt | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 1.50% | 1.50% | ||||
Face amount | $ 675,000,000 | $ 675,000,000 | ||||
October series D 1.50% senior notes maturing 2019 | Other long-term debt | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 1.50% | |||||
Face amount | $ 400,000,000 | |||||
October series E 2.85% senior notes maturing 2026 | Other long-term debt | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 2.85% | |||||
Face amount | $ 600,000,000 | |||||
Unsuccessful remarketing | October series C 1.5% RSNs maturing 2024 | Other long-term debt | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, redemption price, percentage | 100.00% | |||||
Equity units subject to mandatory redemption | ||||||
Debt Instrument [Line Items] | ||||||
Forward contract indexed to issuer's equity, forward rate per share (in dollars per share) | $ / shares | $ 50 | |||||
Financial instruments subject to mandatory redemption, contract adjustment rate | 5.00% | 5.00% | ||||
Financial instruments subject to mandatory redemption, contract adjustment rate, annual amount (in dollars per share) | $ / shares | $ 2.50 | |||||
Financial instruments subject to mandatory redemption, settlement terms, share value, amount | $ 98,000,000 | |||||
Financial instruments subject to mandatory redemption, settlement terms, maximum number of shares (in shares) | shares | 9 | |||||
Equity units subject to mandatory redemption | Equal to or greater than $116.31, 0.4299 shares of common stock | ||||||
Debt Instrument [Line Items] | ||||||
Number of consecutive scheduled trading days | day | 20 | |||||
Financial instruments subject to mandatory redemption, anti-dilution provision, conversion ratio | 0.4299 | |||||
Equity units subject to mandatory redemption | Equal to or greater than $116.31, 0.4299 shares of common stock | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Financial instruments subject to mandatory redemption, anti-dilution provision, stock price threshold (in dollars per share) | $ / shares | $ 116.31 | |||||
Equity units subject to mandatory redemption | Less than $116.31, but greater than $93.05, number of shares of common stock equal to $50 divided by the AMV rounded to the nearest 1/10,000th of a share | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Financial instruments subject to mandatory redemption, anti-dilution provision, stock price threshold (in dollars per share) | $ / shares | 93.05 | |||||
Equity units subject to mandatory redemption | Less than $116.31, but greater than $93.05, number of shares of common stock equal to $50 divided by the AMV rounded to the nearest 1/10,000th of a share | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Financial instruments subject to mandatory redemption, anti-dilution provision, stock price threshold (in dollars per share) | $ / shares | $ 116.31 | |||||
Equity units subject to mandatory redemption | Less than or equal to $93.05, 0.5373 shares of common stock | ||||||
Debt Instrument [Line Items] | ||||||
Financial instruments subject to mandatory redemption, anti-dilution provision, conversion ratio | 0.5373 | |||||
Equity units subject to mandatory redemption | Less than or equal to $93.05, 0.5373 shares of common stock | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Financial instruments subject to mandatory redemption, anti-dilution provision, stock price threshold (in dollars per share) | $ / shares | $ 93.05 | |||||
DTE Electric | Tax-exempt revenue bonds | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 4.30% | |||||
Scenario, Forecast | Equity units subject to mandatory redemption | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Financial instruments subject to mandatory redemption, settlement terms, number of shares (in shares) | shares | 5.8 | |||||
Scenario, Forecast | Equity units subject to mandatory redemption | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Financial instruments subject to mandatory redemption, settlement terms, number of shares (in shares) | shares | 7.3 |
Long-Term Debt (Equity Units an
Long-Term Debt (Equity Units and RSNs) (Details) - USD ($) shares in Millions | Jan. 01, 2017 | Oct. 05, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 31, 2016 |
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ||||||
Total Net Proceeds | $ 654,000,000 | $ 0 | $ 654,000,000 | $ 0 | ||
Total Long-Term Debt | 1,420,000,000 | |||||
Equity units subject to mandatory redemption | ||||||
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ||||||
Units Issued (in shares) | 13.5 | |||||
Stock Purchase Contract Annual Rate | 5.00% | 5.00% | ||||
Stock Purchase Contract Liability(a) | $ 98,000,000 | 66,000,000 | $ 98,000,000 | |||
Redemption of long-term debt | $ 32,000,000 | |||||
October series C 1.5% RSNs maturing 2024 | Other long-term debt | ||||||
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ||||||
Total Long-Term Debt | $ 675,000,000 | $ 675,000,000 | ||||
RSN Annual Interest Rate | 1.50% | 1.50% |
Preferred and Preference Sec113
Preferred and Preference Securities (Details) | Dec. 31, 2017$ / sharesshares |
DTE Electric | |
Preferred and Preferenced Securities [Line Items] | |
Preferred stock, par value (in dollars per share) | $ / shares | $ 100 |
Preferred stock, shares authorized (in shares) | shares | 6,747,484 |
Preference stock, par value (in dollars per share) | $ / shares | $ 1 |
Preference stock shares authorized (in shares) | shares | 30,000,000 |
DTE Gas | |
Preferred and Preferenced Securities [Line Items] | |
Preferred stock, par value (in dollars per share) | $ / shares | $ 1 |
Preferred stock, shares authorized (in shares) | shares | 7,000,000 |
Preference stock, par value (in dollars per share) | $ / shares | $ 1 |
Preference stock shares authorized (in shares) | shares | 4,000,000 |
DTE Energy | |
Preferred and Preferenced Securities [Line Items] | |
Preferred stock, par value (in dollars per share) | $ / shares | $ 0 |
Preferred stock, shares authorized (in shares) | shares | 5,000,000 |
Short-Term Credit Arrangemen114
Short-Term Credit Arrangements and Borrowings (Schedule of Borrowings) (Details) | Dec. 31, 2017USD ($) |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | $ 2,120,000,000 |
Amounts outstanding | 745,000,000 |
Net availability | 1,375,000,000 |
DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 400,000,000 |
Amounts outstanding | 238,000,000 |
Net availability | 162,000,000 |
DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 300,000,000 |
Amounts outstanding | 300,000,000 |
Net availability | 0 |
DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 1,420,000,000 |
Amounts outstanding | 207,000,000 |
Net availability | 1,213,000,000 |
Letters of credit | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 124,000,000 |
Letters of credit | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 0 |
Letters of credit | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 0 |
Letters of credit | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 124,000,000 |
Letters of credit | Unsecured letter of credit facility, expiring in February 2019 | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 150,000,000 |
Letters of credit | Unsecured letter of credit facility, expiring in February 2019 | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 0 |
Letters of credit | Unsecured letter of credit facility, expiring in February 2019 | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 0 |
Letters of credit | Unsecured letter of credit facility, expiring in February 2019 | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 150,000,000 |
Letters of credit | Unsecured letter of credit facility, expiring in September 2019 | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 70,000,000 |
Letters of credit | Unsecured letter of credit facility, expiring in September 2019 | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 0 |
Letters of credit | Unsecured letter of credit facility, expiring in September 2019 | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 0 |
Letters of credit | Unsecured letter of credit facility, expiring in September 2019 | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 70,000,000 |
Revolving credit facility | Unsecured revolving credit facility, expiring April 2022 | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 1,900,000,000 |
Revolving credit facility | Unsecured revolving credit facility, expiring April 2022 | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 400,000,000 |
Revolving credit facility | Unsecured revolving credit facility, expiring April 2022 | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 300,000,000 |
Revolving credit facility | Unsecured revolving credit facility, expiring April 2022 | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 1,200,000,000 |
Commercial paper issuances | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 621,000,000 |
Commercial paper issuances | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 238,000,000 |
Commercial paper issuances | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 300,000,000 |
Commercial paper issuances | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | $ 83,000,000 |
Short-Term Credit Arrangemen115
Short-Term Credit Arrangements and Borrowings (Details) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 745,000,000 | |
Weighted average interest rate | 1.90% | 0.90% |
Dividend restriction | $ 1,800,000,000 | |
Retained earnings | 5,643,000,000 | $ 5,114,000,000 |
Effective limitations | $ 0 | |
Maximum | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.65 | |
Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 124,000,000 | |
DTE Electric | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.50 | |
Other outstanding letters of credit | $ 238,000,000 | |
Weighted average interest rate | 1.50% | 0.80% |
Retained earnings | $ 1,956,000,000 | $ 1,787,000,000 |
DTE Electric | Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 0 | |
DTE Gas | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.48 | |
Other outstanding letters of credit | $ 300,000,000 | |
DTE Gas | Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 0 | |
DTE Energy | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.54 | |
Other outstanding letters of credit | $ 207,000,000 | |
DTE Energy | Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | 124,000,000 | |
DTE Energy | Demand financing agreement | ||
Short-term Debt [Line Items] | ||
Maximum borrowing capacity | 100,000,000 | |
Additional margin financing | 50,000,000 | |
Amount outstanding | 56,000,000 | $ 50,000,000 |
DTE Energy | Demand financing agreement plus letter of credit | ||
Short-term Debt [Line Items] | ||
Maximum borrowing capacity | 100,000,000 | |
DTE Energy | Other outstanding letters of credit | Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 9,000,000 |
Capital and Operating Leases (F
Capital and Operating Leases (Future Minimum Lease Payments under Non-Cancelable Leases) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,018 | $ 40 |
2,019 | 34 |
2,020 | 22 |
2,021 | 13 |
2,022 | 9 |
2022 and thereafter | 48 |
Total minimum lease payments | 166 |
DTE Electric | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,018 | 15 |
2,019 | 14 |
2,020 | 9 |
2,021 | 9 |
2,022 | 6 |
2022 and thereafter | 38 |
Total minimum lease payments | $ 91 |
Capital and Operating Leases (D
Capital and Operating Leases (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Lessor Capital Leases [Line Items] | |||
Rent expense | $ 51 | $ 43 | $ 43 |
Pipeline System Lease | |||
Schedule of Lessor Capital Leases [Line Items] | |||
Lessor capital lease renewal terms | 5 years | ||
Percent ownership in pipeline | 40.00% | ||
DTE Electric | |||
Schedule of Lessor Capital Leases [Line Items] | |||
Rent expense | $ 28 | $ 28 | $ 32 |
Capital and Operating Leases (C
Capital and Operating Leases (Components of the Net Investment in the Capital Leases) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Capital Leases of Lessor [Abstract] | |
2,018 | $ 13 |
2,019 | 10 |
2,020 | 9 |
2,021 | 0 |
2,022 | 0 |
2023 and thereafter | 1 |
Total minimum future lease receipts | 33 |
Residual value of leased pipeline | 40 |
Less unearned income | (15) |
Net investment in capital lease | 58 |
Less current portion | (7) |
Capital lease, noncurrent | $ 51 |
Commitments and Contingencie119
Commitments and Contingencies (Details) | 12 Months Ended | ||||
Dec. 31, 2017USD ($)employeefacilityNOVsite | Dec. 31, 2010 | Dec. 31, 2016USD ($) | Sep. 07, 2016state | Jul. 31, 2009plant | |
Loss Contingencies [Line Items] | |||||
Sulfur dioxide ambient air quality standard finalized | 1 hour | ||||
Estimated Future Capital Expenditures For Next Year | $ 3,600,000,000 | ||||
Labor force concentration risk | Workforce subject to collective bargaining arrangements | |||||
Loss Contingencies [Line Items] | |||||
Approximate number of employees | employee | 5,000 | ||||
Synthetic fuel | |||||
Loss Contingencies [Line Items] | |||||
Number of days after expiration of statutes of limitations | 90 days | ||||
Maximum potential liability | $ 620,000,000 | ||||
Reduced emissions fuel guarantees | |||||
Loss Contingencies [Line Items] | |||||
Number of days after expiration of statutes of limitations | 90 days | ||||
Maximum potential liability | $ 386,000,000 | ||||
NEXUS Pipeline | |||||
Loss Contingencies [Line Items] | |||||
Guarantee termination, minimum threshold, period following end of primary term of capacity lease agreements | 2 months | ||||
Other guarantees | |||||
Loss Contingencies [Line Items] | |||||
Maximum potential liability | $ 55,000,000 | ||||
Performance surety bonds | |||||
Loss Contingencies [Line Items] | |||||
Performance bonds outstanding | $ 58,000,000 | ||||
DTE Electric | |||||
Loss Contingencies [Line Items] | |||||
Number of states with NOX emissions from power plants | state | 22 | ||||
Number of power plants allegedly in violation | plant | 5 | ||||
Number of NOVs/FOVs currently being discussed with the EPA | NOV | 2 | ||||
Amount spent to comply with air pollution requirements | $ 2,400,000,000 | ||||
Estimated capital expenditures | $ 0 | ||||
Number of former MGP sites | site | 3 | ||||
Accrued for remediation related to the sites | $ 6,000,000 | $ 8,000,000 | |||
Number of permitted engineered coal ash storage facilities owned | facility | 3 | ||||
Time period to comply with coal combustion residual requirements and effluent limitations guidelines | 6 years | ||||
Estimated Future Capital Expenditures For Next Year | $ 1,900,000,000 | ||||
DTE Electric | Labor force concentration risk | Workforce subject to collective bargaining arrangements | |||||
Loss Contingencies [Line Items] | |||||
Approximate number of employees | employee | 2,700 | ||||
DTE Electric | Coal combustion residual rule | |||||
Loss Contingencies [Line Items] | |||||
Estimated cost associated with building new facilities | $ 295,000,000 | ||||
DTE Gas | |||||
Loss Contingencies [Line Items] | |||||
Number of former MGP sites | site | 14 | ||||
Accrued for remediation related to the sites | $ 41,000,000 | $ 43,000,000 | |||
Amortization period for MGP costs (in years) | 10 years | ||||
DTE Gas | NEXUS Pipeline | |||||
Loss Contingencies [Line Items] | |||||
Maximum potential liability | $ 80,000,000 | ||||
Capacity lease agreement term | 15 years | ||||
Percentage of all payment obligations due and payable | 50.00% | ||||
DTE Gas | Cleanup completed and site closed | |||||
Loss Contingencies [Line Items] | |||||
Number of former MGP sites | site | 6 | ||||
DTE Gas | Partial closure completed | |||||
Loss Contingencies [Line Items] | |||||
Number of former MGP sites | site | 6 | ||||
Texas Eastern Transmission, LP | NEXUS Pipeline | |||||
Loss Contingencies [Line Items] | |||||
Maximum potential liability | $ 10,000,000 | ||||
Capacity lease agreement term | 15 years | ||||
Percentage of all payment obligations due and payable | 50.00% |
Commitments and Contingencie120
Commitments and Contingencies (Purchase Commitments) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2,018 | $ 2,731 |
2,019 | 1,045 |
2,020 | 638 |
2,021 | 474 |
2,022 | 371 |
2023 and thereafter | 2,277 |
Total purchase commitments | 7,536 |
DTE Electric | |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2,018 | 930 |
2,019 | 320 |
2,020 | 192 |
2,021 | 149 |
2,022 | 88 |
2023 and thereafter | 820 |
Total purchase commitments | $ 2,499 |
Nuclear Operations (Details)
Nuclear Operations (Details) - DTE Electric $ in Millions | May 16, 2014kWh | May 15, 2014$ / MWh | Dec. 31, 2017USD ($) |
Entity Information [Line Items] | |||
Policy waiting period | 84 days | ||
Insurance coverage for extra expense when power plant unavailable | $ 490 | ||
Period of coverage of policy for extra expenses | 3 years | ||
Primary coverage for stabilization, decontamination, debris removal, repair and/or replacement of property, and decommissioning | $ 1,500 | ||
Excess coverage for stabilization, decontamination, debris removal, repair and/or replacement of property, and decommissioning | 1,250 | ||
Combined coverage limit for total property damage | 2,750 | ||
Total limit for property damage for non-nuclear events | 2,000 | ||
Limit of coverage for aggregate extra expenses for non-nuclear events | $ 328 | ||
Period of coverage for extra expenses | 2 years | ||
Time period for TRIA after the first loss from terrorism | 1 year | ||
NEIL policies against terrorism loss, amount made available to all insured entities (up to) | $ 3,200 | ||
Maximum assessment if loss amount exceeds funds available | 47 | ||
Public liability insurance for a nuclear incident | 450 | ||
One industry aggregate limit of coverage arising from terrorist act outside scope of TRIA | 300 | ||
Maximum deferred premium charges that could be levied against each licensed nuclear facility | 127 | ||
Limit of deferred premium charges per year per facility | $ 19 | ||
Company obligated to pay DOE fee of Fermi 2 electricity generated and sold | $ / MWh | 1 | ||
New DOE fee for Fermi 2 electricity generated and sold | kWh | 0 |
Retirement Benefits and Trus122
Retirement Benefits and Trusteed Assets (Pension Plan - Pension Cost Inclusions) (Details) - Pension plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | $ 92 | $ 92 | $ 100 |
Interest cost | 214 | 219 | 210 |
Expected return on plan assets | (311) | (309) | (296) |
Amortization of: | |||
Net actuarial loss | 176 | 164 | 205 |
Prior service cost | 1 | 1 | 0 |
Other | 0 | 0 | 2 |
Net pension cost | $ 172 | $ 167 | $ 221 |
Retirement Benefits and Trus123
Retirement Benefits and Trusteed Assets (Pension Plan - Other Changes in Plan Assets and Benefit Obligations recognized in Reg Assets and OCI) (Details) - Pension plan - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial loss | $ 27 | $ 197 |
Amortization of net actuarial loss | (176) | (164) |
Prior service cost (credit) | (11) | 7 |
Amortization of prior service cost | (1) | (1) |
Total recognized in Regulatory assets and Other comprehensive income (loss) | (161) | 39 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | 11 | 206 |
Estimated amounts to be amortized from Regulatory assets and Accumulated other comprehensive income (loss) into net periodic benefit cost during next fiscal year | ||
Net actuarial loss | 178 | 172 |
Prior service cost | $ 0 | $ 1 |
Retirement Benefits and Trus124
Retirement Benefits and Trusteed Assets (Pension Plan - Reconciliation of Obligations, Assets and Funded Status of Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amounts recognized in Regulatory assets | |||
Regulatory assets | $ 3,778 | $ 3,913 | |
Pension plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] | |||
Accumulated benefit obligation, end of year | 5,149 | 4,753 | |
Change in projected benefit obligation | |||
Projected/Accumulated postretirement benefit obligation, beginning of year | 5,171 | 4,971 | |
Service cost | 92 | 92 | $ 100 |
Interest cost | 214 | 219 | 210 |
Plan amendments | (11) | 7 | |
Actuarial loss | 391 | 141 | |
Benefits paid | (281) | (259) | |
Projected/Accumulated postretirement benefit obligation, end of year | 5,576 | 5,171 | 4,971 |
Change in plan assets | |||
Plan assets at fair value, beginning of year | 4,012 | 3,832 | |
Actual return on plan assets | 674 | 253 | |
Company contributions | 231 | 186 | |
Benefits paid | (281) | (259) | |
Plan assets at fair value, end of year | 4,636 | 4,012 | $ 3,832 |
Funded status | (940) | (1,159) | |
Amount recorded as: | |||
Current liabilities | (16) | (7) | |
Noncurrent liabilities | (924) | (1,152) | |
Defined benefit plans liabilities | (940) | (1,159) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | 163 | 163 | |
Prior service cost | 6 | 8 | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 169 | 171 | |
Amounts recognized in Regulatory assets | |||
Net actuarial loss | 2,014 | 2,163 | |
Prior service credit | (14) | (4) | |
Regulatory assets | $ 2,000 | $ 2,159 |
Retirement Benefits and Trus125
Retirement Benefits and Trusteed Assets (Pension Plan - Cash Contributions) (Details) - Pension Plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Cash contributions to qualified pension plans | $ 231 | $ 186 | |
Qualified Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Cash contributions to qualified pension plans | 223 | 179 | $ 177 |
Qualified Plan | DTE Electric | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Cash contributions to qualified pension plans | $ 185 | $ 145 | $ 145 |
Retirement Benefits and Trus126
Retirement Benefits and Trusteed Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined contribution plan, cost recognized | $ 57 | $ 51 | $ 49 |
Annual contributions per employee, percentage | 4.00% | ||
DTE Electric | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined contribution plan, cost recognized | $ 27 | 23 | 23 |
DTE Gas | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Annual contributions per employee, percentage | 8.00% | ||
Pension plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Expected return on plan assets | 7.50% | ||
Company contributions | $ 231 | 186 | |
Pension plan | DTE Electric | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Allocated pension benefit costs | 136 | 136 | 176 |
Pension plan | Maximum | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Estimated future employer contributions in next fiscal year | 200 | ||
Pension plan | Maximum | DTE Electric | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Estimated future employer contributions in next fiscal year | $ 175 | ||
Other postretirement benefit plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Expected return on plan assets | 7.75% | ||
Company contributions | $ 0 | 20 | |
Retiree health care allowance will increase at lower of the rate of medical inflation or a set percentage | 2.00% | ||
Defined benefit plan, effect of one percentage point increase on service and interest cost components | $ 5 | ||
Defined benefit plan, effect of one percentage point increase on accumulated postretirement benefit obligation | 97 | ||
Defined benefit plan, effect of one percentage point decrease on service and interest cost components | 4 | ||
Defined benefit plan, effect of one percentage point decrease on accumulated postretirement benefit obligation | 84 | ||
Other postretirement benefit plan | DTE Electric | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Company contributions | 0 | 0 | |
Defined benefit plan, effect of one percentage point increase on service and interest cost components | 4 | ||
Defined benefit plan, effect of one percentage point increase on accumulated postretirement benefit obligation | 72 | ||
Defined benefit plan, effect of one percentage point decrease on service and interest cost components | 3 | ||
Defined benefit plan, effect of one percentage point decrease on accumulated postretirement benefit obligation | 63 | ||
Retiree healthcare plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined contribution plan, cost recognized | 8 | 6 | 5 |
Retiree healthcare plan | DTE Electric | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined contribution plan, cost recognized | $ 3 | $ 3 | $ 3 |
Retirement Benefits and Trus127
Retirement Benefits and Trusteed Assets (Pension Plan - Benefits related to Qualified and Nonqualified Pension Plans Expected to be paid in the Next Ten Years) (Details) - Pension plan $ in Millions | Dec. 31, 2017USD ($) |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2,018 | $ 299 |
2,019 | 301 |
2,020 | 316 |
2,021 | 317 |
2,022 | 323 |
2023-2027 | 1,692 |
Total | $ 3,248 |
Retirement Benefits and Trus128
Retirement Benefits and Trusteed Assets (Pension Plan - Assumptions used in Determining the PBO and Net Pension Costs) (Details) - Pension plan | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Projected benefit obligation | |||
Discount rate | 3.70% | 4.25% | 4.50% |
Rate of compensation increase | 4.98% | 4.65% | 4.65% |
Net pension costs | |||
Discount rate | 4.25% | 4.50% | 4.12% |
Rate of compensation increase | 4.65% | 4.65% | 4.65% |
Expected long-term rate of return on plan assets | 7.50% | 7.75% | 7.75% |
Retirement Benefits and Trus129
Retirement Benefits and Trusteed Assets (Pension Plan - Target Allocations of Plan Assets) (Details) - Pension plan | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 100.00% |
U.S. Large Capitalization (Cap) Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 18.00% |
U.S. Small Cap and Mid Cap Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 5.00% |
Non-U.S. Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 17.00% |
Fixed Income Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 32.00% |
Hedge Funds and Similar Investments | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 20.00% |
Private Equity and Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 8.00% |
Retirement Benefits and Trus130
Retirement Benefits and Trusteed Assets (Pension Plan - Fair Value Measurements) (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 4,636 | $ 4,012 | $ 3,832 |
Assets valued at NAV | 1,201 | 1,112 | |
Short-term investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 114 | 22 | |
U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 826 | 880 | |
U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 234 | 232 | |
Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 822 | 766 | |
Assets valued at NAV | 280 | 269 | |
Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,454 | 1,090 | |
Assets valued at NAV | 0 | 52 | |
Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 858 | 809 | |
Assets valued at NAV | 593 | 578 | |
Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 328 | 213 | |
Assets valued at NAV | 328 | 213 | |
Securities lending | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (66) | (78) | |
Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 66 | 78 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,845 | 1,815 | |
Level 1 | Short-term investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Level 1 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 821 | 875 | |
Level 1 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 229 | 229 | |
Level 1 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 529 | 479 | |
Level 1 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1 | 1 | |
Level 1 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 265 | 231 | |
Level 1 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Level 1 | Securities lending | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (53) | (53) | |
Level 1 | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 53 | 53 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,590 | 1,085 | |
Level 2 | Short-term investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 114 | 22 | |
Level 2 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 5 | 5 | |
Level 2 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 5 | 3 | |
Level 2 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 13 | 18 | |
Level 2 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,453 | 1,037 | |
Level 2 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Level 2 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Level 2 | Securities lending | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (13) | (25) | |
Level 2 | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 13 | $ 25 |
Retirement Benefits and Trus131
Retirement Benefits and Trusteed Assets (OPEB - Postretirement Cost Inclusions) (Details) - Other postretirement benefit plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 27 | $ 27 | $ 34 |
Interest cost | 73 | 80 | 81 |
Expected return on plan assets | (130) | (129) | (131) |
Amortization of: | |||
Net actuarial loss | 13 | 30 | 43 |
Prior service cost | (14) | (118) | (126) |
Other | 0 | (1) | 0 |
Net pension cost | (31) | (111) | (99) |
DTE Electric | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 20 | 20 | 25 |
Interest cost | 56 | 61 | 62 |
Expected return on plan assets | (90) | (90) | (90) |
Amortization of: | |||
Net actuarial loss | 8 | 21 | 31 |
Prior service cost | (10) | (89) | (95) |
Net pension cost | $ (16) | $ (77) | $ (67) |
Retirement Benefits and Trus132
Retirement Benefits and Trusteed Assets (OPEB - Other Changes in Plan Assets and APBO Recognized in Regulatory Assets and OCI) (Details) - Other postretirement benefit plan - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial gain | $ (21) | $ (68) |
Amortization of net actuarial loss | (13) | (30) |
Prior service credit | (1) | 0 |
Amortization of prior service credit | 14 | 119 |
Total recognized in Regulatory assets and Other comprehensive income (loss) | (21) | 21 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | (52) | (90) |
Estimated amounts to be amortized from Regulatory assets and Accumulated other comprehensive income (loss) into net periodic benefit cost during next fiscal year | ||
Net actuarial loss | 11 | 16 |
Prior service credit | (1) | (14) |
DTE Electric | ||
Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial gain | 2 | (59) |
Amortization of net actuarial loss | (8) | (21) |
Amortization of prior service credit | 10 | 89 |
Total recognized in Regulatory assets and Other comprehensive income (loss) | 4 | 9 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | (12) | (68) |
Estimated amounts to be amortized from Regulatory assets and Accumulated other comprehensive income (loss) into net periodic benefit cost during next fiscal year | ||
Net actuarial loss | 8 | 10 |
Prior service credit | $ 0 | $ (10) |
Retirement Benefits and Trus133
Retirement Benefits and Trusteed Assets (OPEB - Reconciliation of Obligations, Assets and Funded Status of Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amounts recognized in Regulatory assets | |||
Regulatory assets | $ 3,778 | $ 3,913 | |
Other postretirement benefit plan | |||
Change in accumulated postretirement benefit obligation | |||
Projected/Accumulated postretirement benefit obligation, beginning of year | 1,795 | 1,846 | |
Service cost | 27 | 27 | $ 34 |
Interest cost | 73 | 80 | 81 |
Actuarial (gain) loss | 101 | (75) | |
Benefits paid | (86) | (83) | |
Projected/Accumulated postretirement benefit obligation, end of year | 1,910 | 1,795 | 1,846 |
Change in plan assets | |||
Plan assets at fair value, beginning of year | 1,758 | 1,617 | |
Actual return on plan assets | 252 | 122 | |
Company contributions | 0 | 20 | |
Benefits paid | (162) | (1) | |
Plan assets at fair value, end of year | 1,848 | 1,758 | 1,617 |
Funded status | (62) | (37) | |
Amount recorded as: | |||
Noncurrent assets | 0 | 0 | |
Current liabilities | (1) | (1) | |
Noncurrent liabilities | (61) | (36) | |
Defined benefit plans liabilities | (62) | (37) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | (1) | 12 | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | (1) | 12 | |
Amounts recognized in Regulatory assets | |||
Net actuarial loss | 279 | 300 | |
Prior service credit | (1) | (14) | |
Regulatory assets | 278 | 286 | |
DTE Electric | |||
Amounts recognized in Regulatory assets | |||
Regulatory assets | 3,055 | 3,149 | |
DTE Electric | Other postretirement benefit plan | |||
Change in accumulated postretirement benefit obligation | |||
Projected/Accumulated postretirement benefit obligation, beginning of year | 1,373 | 1,414 | |
Service cost | 20 | 20 | 25 |
Interest cost | 56 | 61 | 62 |
Actuarial (gain) loss | 84 | (62) | |
Benefits paid | (63) | (60) | |
Projected/Accumulated postretirement benefit obligation, end of year | 1,470 | 1,373 | 1,414 |
Change in plan assets | |||
Plan assets at fair value, beginning of year | 1,218 | 1,131 | |
Actual return on plan assets | 172 | 87 | |
Company contributions | 0 | 0 | |
Benefits paid | (118) | 0 | |
Plan assets at fair value, end of year | 1,272 | 1,218 | $ 1,131 |
Funded status | (198) | (155) | |
Amount recorded as: | |||
Noncurrent assets | 113 | 114 | |
Current liabilities | 0 | 0 | |
Noncurrent liabilities | (311) | (269) | |
Defined benefit plans liabilities | (198) | (155) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | 0 | 0 | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 0 | 0 | |
Amounts recognized in Regulatory assets | |||
Net actuarial loss | 211 | 217 | |
Prior service credit | 0 | (10) | |
Regulatory assets | $ 211 | $ 207 |
Retirement Benefits and Trus134
Retirement Benefits and Trusteed Assets (OPEB - Benefits related to Qualified and Nonqualified Pension Plans Expected to be paid in the Next Ten Years) (Details) - Other postretirement benefit plan $ in Millions | Dec. 31, 2017USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,018 | $ 94 |
2,019 | 99 |
2,020 | 103 |
2,021 | 105 |
2,022 | 108 |
2023-2027 | 567 |
Total | 1,076 |
DTE Electric | |
Defined Benefit Plan Disclosure [Line Items] | |
2,018 | 73 |
2,019 | 77 |
2,020 | 80 |
2,021 | 82 |
2,022 | 84 |
2023-2027 | 437 |
Total | $ 833 |
Retirement Benefits and Trus135
Retirement Benefits and Trusteed Assets (OPEB - Assumptions used in Determining the PBO and Net Pension Costs) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated postretirement benefit obligation | |||
Ultimate health care trend rate | 4.50% | ||
Other postretirement benefit costs | |||
Ultimate health care trend rate | 4.50% | ||
Other postretirement benefit plan | |||
Accumulated postretirement benefit obligation | |||
Discount rate | 3.70% | 4.25% | 4.50% |
Health care trend rate pre- 65 | 6.75% | 6.50% | 6.25% |
Health care trend post- 65 | 7.25% | 6.75% | 6.75% |
Ultimate health care trend rate | 4.50% | 4.50% | 4.50% |
Other postretirement benefit costs | |||
Discount rate | 4.25% | 4.50% | 4.10% |
Expected long-term rate of return on plan assets | 7.75% | 8.00% | 8.00% |
Health care trend rate pre- 65 | 6.50% | 6.25% | 7.50% |
Health care trend post- 65 | 6.75% | 6.75% | 6.50% |
Ultimate health care trend rate | 4.50% | 4.50% | 4.50% |
Retirement Benefits and Trus136
Retirement Benefits and Trusteed Assets (OPEB - Target Allocations of Plan Assets) (Details) - Other postretirement benefit plan | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 100.00% |
U.S. Large Capitalization (Cap) Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 16.00% |
U.S. Small Cap and Mid Cap Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 4.00% |
Non-U.S. Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 20.00% |
Fixed Income Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 26.00% |
Hedge Funds and Similar Investments | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 20.00% |
Private Equity and Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 14.00% |
Retirement Benefits and Trus137
Retirement Benefits and Trusteed Assets (OPEB - Fair Value Measurements) (Details) - Other postretirement benefit plan - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 1,848 | $ 1,758 | $ 1,617 |
Assets valued at NAV | 660 | 587 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 861 | 870 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 327 | 301 | |
Short-term investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 15 | 40 | |
Short-term investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 13 | 39 | |
Short-term investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 2 | 1 | |
U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 284 | 284 | |
U.S. Large Capitalization (Cap) Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 284 | 284 | |
U.S. Large Capitalization (Cap) Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 131 | 156 | |
U.S. Small Cap and Mid Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 131 | 156 | |
U.S. Small Cap and Mid Cap Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 366 | 324 | |
Assets valued at NAV | 77 | 61 | |
Non-U.S. Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 288 | 262 | |
Non-U.S. Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1 | 1 | |
Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 483 | 439 | |
Assets valued at NAV | 130 | 125 | |
Fixed Income Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 29 | 15 | |
Fixed Income Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 324 | 299 | |
Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 335 | 338 | |
Assets valued at NAV | 219 | 224 | |
Hedge Funds and Similar Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 116 | 114 | |
Hedge Funds and Similar Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 234 | 177 | |
Assets valued at NAV | 234 | 177 | |
Private Equity and Other | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Private Equity and Other | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Securities lending | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (40) | (31) | |
Securities lending | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (39) | (28) | |
Securities lending | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (1) | (3) | |
Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 40 | 31 | |
Securities lending collateral | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 39 | 28 | |
Securities lending collateral | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1 | 3 | |
DTE Electric | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,272 | 1,218 | $ 1,131 |
Assets valued at NAV | 457 | 409 | |
DTE Electric | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 595 | 604 | |
DTE Electric | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 220 | 205 | |
DTE Electric | Short-term investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 10 | 29 | |
DTE Electric | Short-term investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 9 | 28 | |
DTE Electric | Short-term investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1 | 1 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 195 | 195 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 195 | 195 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 91 | 109 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 91 | 109 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
DTE Electric | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 253 | 224 | |
Assets valued at NAV | 52 | 41 | |
DTE Electric | Non-U.S. Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 200 | 182 | |
DTE Electric | Non-U.S. Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1 | 1 | |
DTE Electric | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 330 | 303 | |
Assets valued at NAV | 92 | 90 | |
DTE Electric | Fixed Income Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 20 | 10 | |
DTE Electric | Fixed Income Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 218 | 203 | |
DTE Electric | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 230 | 234 | |
Assets valued at NAV | 150 | 154 | |
DTE Electric | Hedge Funds and Similar Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 80 | 80 | |
DTE Electric | Hedge Funds and Similar Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
DTE Electric | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 163 | 124 | |
Assets valued at NAV | 163 | 124 | |
DTE Electric | Private Equity and Other | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
DTE Electric | Private Equity and Other | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
DTE Electric | Securities lending | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (28) | (21) | |
DTE Electric | Securities lending | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (27) | (20) | |
DTE Electric | Securities lending | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (1) | (1) | |
DTE Electric | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 28 | 21 | |
DTE Electric | Securities lending collateral | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 27 | 20 | |
DTE Electric | Securities lending collateral | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 1 | $ 1 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Authorized limit of common stock shares (in shares) | 14,500,000 | ||
Performance units price per unit (in dollars per share) | 1 | ||
Remaining contractual term (in years) | 2 years 18 days | ||
Options vested (in shares) | 0 | ||
Options grants in period (in shares) | 0 | 0 | |
Options, exercises, intrinsic value | $ | $ 4,000,000 | $ 4,000,000 | $ 7,000,000 |
Stock option expense | $ | 0 | 0 | 0 |
DTE Electric | DTE Energy | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation cost charged against income (in millions) | $ | $ 34,000,000 | 38,000,000 | 21,000,000 |
Stock Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee (in shares) | 500,000 | ||
Award expiration period | 10 years | ||
Award vesting period | 3 years | ||
Restricted Stock Awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee (in shares) | 150,000 | ||
Award vesting period | 3 years | ||
Compensation cost charged against income (in millions) | $ | $ 11,000,000 | $ 11,000,000 | $ 10,000,000 |
Performance Share Awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee (in shares) | 300,000 | ||
Award vesting period | 3 years | ||
Performance Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee (in shares) | 1,000,000 |
Stock-Based Compensation (Compo
Stock-Based Compensation (Components of Stock Based Compensation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Components of stock based-compensation [Abstract] | |||
Stock-based compensation expense | $ 58 | $ 61 | $ 34 |
Tax benefit | 23 | 24 | 13 |
Stock-based compensation cost capitalized in Property, plant, and equipment | $ 9 | $ 10 | $ 5 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Option Activity) (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($)$ / sharesshares | |
Number of Options | |
Options outstanding beginning of the year (in shares) | shares | 171,517 |
Exercised (in shares) | shares | (65,523) |
Options outstanding end of the year (in shares) | shares | 105,994 |
Weighted Average Exercise Price | |
Options outstanding beginning of the year (in dollars per share) | $ / shares | $ 41.59 |
Exercised (in dollars per share) | $ / shares | 39.37 |
Options outstanding end of the year (in dollars per share) | $ / shares | $ 42.95 |
Options outstanding, Aggregate Intrinsic Value | $ | $ 7 |
Stock-Based Compensation (Numbe
Stock-Based Compensation (Number, Weighted Average Exercise Price and Weighted Average Remaining Contractual Life of Options Outstanding) (Details) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Options (in shares) | shares | 105,994 |
Weighted Average Exercise Price (in dollars per share) | $ 42.95 |
Weighted Average Remaining Contractual Life (Years) | 2 years 18 days |
$27.00 - $38.00 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower Limit (in dollars per share) | $ 27 |
Range of Exercise Prices Upper Limit (in dollars per share) | $ 38 |
Number of Options (in shares) | shares | 6,194 |
Weighted Average Exercise Price (in dollars per share) | $ 27.70 |
Weighted Average Remaining Contractual Life (Years) | 1 year 1 month 28 days |
$38.01 - $42.00 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower Limit (in dollars per share) | $ 38.01 |
Range of Exercise Prices Upper Limit (in dollars per share) | $ 42 |
Number of Options (in shares) | shares | 2,300 |
Weighted Average Exercise Price (in dollars per share) | $ 41.79 |
Weighted Average Remaining Contractual Life (Years) | 1 month 24 days |
$42.01 - $45.00 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower Limit (in dollars per share) | $ 42.01 |
Range of Exercise Prices Upper Limit (in dollars per share) | $ 45 |
Number of Options (in shares) | shares | 97,500 |
Weighted Average Exercise Price (in dollars per share) | $ 43.95 |
Weighted Average Remaining Contractual Life (Years) | 2 years 1 month 24 days |
Stock-Based Compensation (Restr
Stock-Based Compensation (Restricted Stock Award Activity) (Details) - Restricted Stock Awards - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of awards vested | $ 10 | $ 9 | $ 9 |
Restricted common shares awarded (in shares) | 136,825 | 145,240 | 144,300 |
Weighted average market price of shares awarded (in dollars per share) | $ 99.53 | $ 87.28 | $ 83.43 |
Compensation cost charged against income | $ 11 | $ 11 | $ 10 |
Stock Based-Compensation (Stock
Stock Based-Compensation (Stock Awards Activity Rollforward) (Details) - Restricted Stock - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Restricted Stock | |||
Balance at beginning of the period (in shares) | 385,285 | ||
Grants (in shares) | 136,825 | 145,240 | 144,300 |
Forfeitures (in shares) | (11,745) | ||
Vested and issued (in shares) | (144,601) | ||
Balance at end of period (in shares) | 365,764 | 385,285 | |
Weighted Average Grant Date Fair Value | |||
Balance at beginning of period (in dollars per share) | $ 80.10 | ||
Grants (in dollars per share) | 99.53 | $ 87.28 | $ 83.43 |
Forfeitures (in dollars per share) | 90.24 | ||
Vested and issued (in dollars per share) | 72.08 | ||
Balance at end of period (in dollars per share) | $ 90.26 | $ 80.10 |
Stock-Based Compensation (Perfo
Stock-Based Compensation (Performance Share Awards Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Compensation Expense Recorded [Line Items] | |||
Compensation expense | $ 58 | $ 61 | $ 34 |
Performance Share Awards | |||
Compensation Expense Recorded [Line Items] | |||
Compensation expense | 47 | 50 | 24 |
Cash settlements | 15 | 7 | 13 |
Stock settlements | $ 66 | $ 38 | $ 71 |
Stock-Based Compensation (Pe145
Stock-Based Compensation (Performance Share Awards Activity) (Details) - Performance shares | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Performance Shares | |
Balance at beginning of period (in shares) | shares | 1,392,512 |
Grants (in shares) | shares | 494,688 |
Forfeitures (in shares) | shares | (49,547) |
Payouts (in shares) | shares | (513,252) |
Balance at end of period (in shares) | shares | 1,324,401 |
Weighted Average Grant Date Fair Value | |
Balance at beginning of period (in dollars per share) | $ / shares | $ 79.97 |
Grants (in dollars per share) | $ / shares | 98.47 |
Forfeitures (in dollars per share) | $ / shares | 87.12 |
Payouts (in dollars per share) | $ / shares | 70.60 |
Balance at end of period (in dollars per share) | $ / shares | $ 90.31 |
Stock-Based Compensation (Unrec
Stock-Based Compensation (Unrecognized Compensation Costs) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 64 |
Weighted Average to be Recognized | 1 year 1 month 10 days |
Stock awards | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 13 |
Weighted Average to be Recognized | 1 year 1 month 13 days |
Performance shares | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 51 |
Weighted Average to be Recognized | 1 year 1 month 10 days |
Segment and Related Informat147
Segment and Related Information (Details) customer in Millions | Dec. 31, 2017customer |
Segment Reporting [Abstract] | |
Number of electric utility customers | 2.2 |
Number of gas utility customers | 1.3 |
Segment and Related Informat148
Segment and Related Information (Financial Data - Inter-Segment Billing) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ (3,271) | $ (3,245) | $ (2,855) | $ (3,236) | $ (2,874) | $ (2,928) | $ (2,262) | $ (2,566) | $ (12,607) | $ (10,630) | $ (10,337) |
Reclassifications and Eliminations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 704 | 704 | 868 | ||||||||
Reclassifications and Eliminations | Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 48 | 43 | 36 | ||||||||
Reclassifications and Eliminations | Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 8 | 9 | 3 | ||||||||
Reclassifications and Eliminations | Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 42 | 9 | 8 | ||||||||
Reclassifications and Eliminations | Power and Industrial Projects | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 569 | 602 | 785 | ||||||||
Reclassifications and Eliminations | Energy Trading | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 35 | 39 | 32 | ||||||||
Reclassifications and Eliminations | Corporate and Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 2 | $ 2 | $ 4 |
Segment and Related Informat149
Segment and Related Information (Financial Data - Operating Revenues Including Inter-Segment Revenues) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | $ 6,434 | $ 6,497 | $ 6,238 | ||||||||
Operating Revenues — Non-utility operations | 6,173 | 4,133 | 4,099 | ||||||||
Depreciation and amortization | 1,030 | 976 | 852 | ||||||||
Interest expense | 536 | 472 | 450 | ||||||||
Interest income | (12) | (20) | (13) | ||||||||
Equity in earnings of equity method investees | 102 | 68 | 66 | ||||||||
Income Tax Expense (Benefit) | 175 | 271 | 230 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | $ 287 | $ 270 | $ 177 | $ 400 | $ 131 | $ 338 | $ 152 | $ 247 | 1,134 | 868 | 727 |
Investments in equity method investees | 1,073 | 752 | 1,073 | 752 | 514 | ||||||
Capital expenditures and acquisitions | 2,250 | 3,269 | 2,261 | ||||||||
Goodwill | 2,293 | 2,286 | 2,293 | 2,286 | 2,018 | ||||||
Total Assets | 33,767 | 32,041 | 33,767 | 32,041 | 28,662 | ||||||
Effect of the Tax Cuts and Jobs Act of 2017 | (105) | (105) | 0 | 0 | |||||||
Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Investments in equity method investees | 879 | 538 | 879 | 538 | |||||||
Operating Segments | Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 5,102 | 5,225 | 4,901 | ||||||||
Operating Revenues — Non-utility operations | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 753 | 750 | 637 | ||||||||
Interest expense | 274 | 264 | 258 | ||||||||
Interest income | 0 | (8) | 0 | ||||||||
Equity in earnings of equity method investees | 1 | 2 | 2 | ||||||||
Income Tax Expense (Benefit) | 321 | 353 | 290 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 606 | 622 | 542 | ||||||||
Investments in equity method investees | 7 | 11 | 7 | 11 | 10 | ||||||
Capital expenditures and acquisitions | 1,574 | 1,503 | 1,785 | ||||||||
Goodwill | 1,208 | 1,208 | 1,208 | 1,208 | 1,208 | ||||||
Total Assets | 21,163 | 20,417 | 21,163 | 20,417 | 19,503 | ||||||
Operating Segments | Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 1,388 | 1,324 | 1,376 | ||||||||
Operating Revenues — Non-utility operations | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 123 | 106 | 104 | ||||||||
Interest expense | 65 | 60 | 62 | ||||||||
Interest income | (7) | (6) | (7) | ||||||||
Equity in earnings of equity method investees | 2 | 6 | 6 | ||||||||
Income Tax Expense (Benefit) | 78 | 77 | 72 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 146 | 138 | 132 | ||||||||
Investments in equity method investees | 11 | 10 | 11 | 10 | 9 | ||||||
Capital expenditures and acquisitions | 463 | 395 | 273 | ||||||||
Goodwill | 743 | 743 | 743 | 743 | 743 | ||||||
Total Assets | 5,072 | 4,729 | 5,072 | 4,729 | 4,294 | ||||||
Operating Segments | Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 0 | 0 | 0 | ||||||||
Operating Revenues — Non-utility operations | 453 | 302 | 243 | ||||||||
Depreciation and amortization | 76 | 45 | 30 | ||||||||
Interest expense | 77 | 39 | 24 | ||||||||
Interest income | (14) | (9) | (8) | ||||||||
Equity in earnings of equity method investees | 90 | 60 | 47 | ||||||||
Income Tax Expense (Benefit) | (30) | 71 | 70 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 275 | 119 | 107 | ||||||||
Investments in equity method investees | 879 | 538 | 879 | 538 | 296 | ||||||
Capital expenditures and acquisitions | 137 | 1,322 | 161 | ||||||||
Goodwill | 299 | 292 | 299 | 292 | 24 | ||||||
Total Assets | 2,594 | 2,417 | 2,594 | 2,417 | 1,047 | ||||||
Effect of the Tax Cuts and Jobs Act of 2017 | (115) | ||||||||||
Operating Segments | Power and Industrial Projects | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 0 | 0 | 0 | ||||||||
Operating Revenues — Non-utility operations | 2,089 | 1,906 | 2,224 | ||||||||
Depreciation and amortization | 72 | 72 | 78 | ||||||||
Interest expense | 29 | 32 | 32 | ||||||||
Interest income | (7) | (8) | (8) | ||||||||
Equity in earnings of equity method investees | 9 | 0 | 8 | ||||||||
Income Tax Expense (Benefit) | (195) | (140) | (140) | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 138 | 95 | 16 | ||||||||
Investments in equity method investees | 150 | 166 | 150 | 166 | 183 | ||||||
Capital expenditures and acquisitions | 56 | 39 | 36 | ||||||||
Goodwill | 26 | 26 | 26 | 26 | 26 | ||||||
Total Assets | 593 | 683 | 593 | 683 | 860 | ||||||
Effect of the Tax Cuts and Jobs Act of 2017 | (21) | ||||||||||
Operating Segments | Energy Trading | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 0 | 0 | 0 | ||||||||
Operating Revenues — Non-utility operations | 4,277 | 2,575 | 2,459 | ||||||||
Depreciation and amortization | 5 | 3 | 2 | ||||||||
Interest expense | 5 | 6 | 6 | ||||||||
Interest income | (2) | (1) | (2) | ||||||||
Equity in earnings of equity method investees | 0 | 0 | 0 | ||||||||
Income Tax Expense (Benefit) | 49 | (29) | (15) | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 72 | (45) | (22) | ||||||||
Investments in equity method investees | 0 | 0 | 0 | 0 | 0 | ||||||
Capital expenditures and acquisitions | 7 | 7 | 6 | ||||||||
Goodwill | 17 | 17 | 17 | 17 | 17 | ||||||
Total Assets | 725 | 660 | 725 | 660 | 590 | ||||||
Effect of the Tax Cuts and Jobs Act of 2017 | 2 | ||||||||||
Operating Segments | Corporate and Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 0 | 0 | 0 | ||||||||
Operating Revenues — Non-utility operations | 2 | 2 | 2 | ||||||||
Depreciation and amortization | 1 | 0 | 1 | ||||||||
Interest expense | 192 | 148 | 132 | ||||||||
Interest income | (88) | (65) | (52) | ||||||||
Equity in earnings of equity method investees | 0 | 0 | 3 | ||||||||
Income Tax Expense (Benefit) | (48) | (61) | (47) | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | (103) | (61) | (48) | ||||||||
Investments in equity method investees | 26 | 27 | 26 | 27 | 16 | ||||||
Capital expenditures and acquisitions | 13 | 3 | 0 | ||||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | 5,324 | 4,648 | 5,324 | 4,648 | 3,496 | ||||||
Effect of the Tax Cuts and Jobs Act of 2017 | 34 | ||||||||||
Reclassifications and Eliminations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | (56) | (52) | (39) | ||||||||
Operating Revenues — Non-utility operations | (648) | (652) | (829) | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Interest expense | (106) | (77) | (64) | ||||||||
Interest income | 106 | 77 | 64 | ||||||||
Equity in earnings of equity method investees | 0 | 0 | 0 | ||||||||
Income Tax Expense (Benefit) | 0 | 0 | 0 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 0 | 0 | 0 | ||||||||
Investments in equity method investees | 0 | 0 | 0 | 0 | 0 | ||||||
Capital expenditures and acquisitions | 0 | 0 | 0 | ||||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | $ (1,704) | $ (1,513) | (1,704) | $ (1,513) | $ (1,128) | ||||||
Non-utility Entities | Operating Segments | Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Effect of the Tax Cuts and Jobs Act of 2017 | $ (5) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Dividends declared | $ 602,000,000 | $ 548,000,000 | $ 510,000,000 |
Dividends paid | 592,000,000 | 531,000,000 | 501,000,000 |
DTE Electric | |||
Related Party Transaction [Line Items] | |||
Other services | (4,000,000) | (1,000,000) | 6,000,000 |
Dividends declared | 432,000,000 | 420,000,000 | 395,000,000 |
Dividends paid | 432,000,000 | 420,000,000 | 395,000,000 |
DTE Electric | Energy sales | |||
Related Party Transaction [Line Items] | |||
Revenues | 9,000,000 | 10,000,000 | 2,000,000 |
DTE Electric | Shared capital assets | |||
Related Party Transaction [Line Items] | |||
Revenues | 39,000,000 | 33,000,000 | 33,000,000 |
DTE Electric | Fuel and purchased power | |||
Related Party Transaction [Line Items] | |||
Costs | 6,000,000 | 10,000,000 | 9,000,000 |
DTE Electric | Other services and interest | |||
Related Party Transaction [Line Items] | |||
Costs | (2,000,000) | (1,000,000) | 2,000,000 |
DTE Electric | Corporate expenses, net | |||
Related Party Transaction [Line Items] | |||
Costs | 370,000,000 | 370,000,000 | 334,000,000 |
DTE Electric | DTE Energy | |||
Related Party Transaction [Line Items] | |||
Dividends declared | 432,000,000 | 420,000,000 | 395,000,000 |
Dividends paid | 432,000,000 | 420,000,000 | 395,000,000 |
Capital contribution from DTE Energy | 100,000,000 | 120,000,000 | 300,000,000 |
DTE Electric | DTE Energy Foundation | |||
Related Party Transaction [Line Items] | |||
Charitable contributions to foundation | $ 7,000,000 | $ 0 | $ 0 |
Supplementary Quarterly Fina151
Supplementary Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Entity Information [Line Items] | |||||||||||
Operating Revenues | $ 3,271 | $ 3,245 | $ 2,855 | $ 3,236 | $ 2,874 | $ 2,928 | $ 2,262 | $ 2,566 | $ 12,607 | $ 10,630 | $ 10,337 |
Operating Income | 356 | 418 | 303 | 569 | 301 | 507 | 256 | 381 | 1,646 | 1,445 | 1,239 |
Net Income | $ 287 | $ 270 | $ 177 | $ 400 | $ 131 | $ 338 | $ 152 | $ 247 | $ 1,134 | $ 868 | $ 727 |
Basic Earnings per Share (in dollars per share) | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 0.73 | $ 1.88 | $ 0.84 | $ 1.38 | $ 6.32 | $ 4.84 | $ 4.05 |
Diluted Earnings per Share (in dollars per share) | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 0.73 | $ 1.88 | $ 0.84 | $ 1.37 | $ 6.32 | $ 4.83 | $ 4.05 |
Effect of the Tax Cuts and Jobs Act of 2017 | $ (105) | $ (105) | $ 0 | $ 0 | |||||||
DTE Electric | |||||||||||
Entity Information [Line Items] | |||||||||||
Operating Revenues | 1,275 | $ 1,434 | $ 1,218 | $ 1,175 | $ 1,249 | $ 1,608 | $ 1,215 | $ 1,153 | 5,102 | 5,225 | |
Operating Income | 281 | 395 | 272 | 217 | 193 | 501 | 265 | 245 | 1,165 | 1,204 | 1,074 |
Net Income | $ 138 | $ 219 | $ 138 | $ 106 | $ 75 | $ 285 | $ 135 | $ 127 | $ 601 | $ 622 | $ 544 |
Schedule II - Valuation and 152
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Energy's Consolidated Statements of Financial Position) | |||
Balance at Beginning of Period | $ 41 | ||
Additions: | |||
Balance at End of Period | 49 | $ 41 | |
DTE Electric | |||
Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Energy's Consolidated Statements of Financial Position) | |||
Balance at Beginning of Period | 25 | ||
Additions: | |||
Balance at End of Period | 31 | 25 | |
Allowance for Doubtful Accounts | |||
Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Energy's Consolidated Statements of Financial Position) | |||
Balance at Beginning of Period | 41 | 49 | $ 54 |
Additions: | |||
Charged to costs and expenses | 80 | 78 | 93 |
Charged to other accounts | 26 | 18 | 14 |
Deductions | (98) | (104) | (112) |
Balance at End of Period | 49 | 41 | 49 |
Allowance for Doubtful Accounts | DTE Electric | |||
Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Energy's Consolidated Statements of Financial Position) | |||
Balance at Beginning of Period | 25 | 28 | 29 |
Additions: | |||
Charged to costs and expenses | 55 | 49 | 51 |
Charged to other accounts | 14 | 8 | 6 |
Deductions | (63) | (60) | (58) |
Balance at End of Period | $ 31 | $ 25 | $ 28 |