Document and Entity Information
Document and Entity Information Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Jan. 25, 2019 | Jun. 29, 2018 | |
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, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 181,923,685 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 18,500,000,000 | ||
DTE Electric | |||
Entity Information [Line Items] | |||
Entity Registrant Name | DTE ELECTRIC CO | ||
Entity Central Index Key | 28,385 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Type | 10-K | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | 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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Revenues | |||
Utility operations | $ 6,670 | $ 6,434 | $ 6,497 |
Non-utility operations | 7,542 | 6,173 | 4,133 |
Operating Revenues | 14,212 | 12,607 | 10,630 |
Operating Expenses | |||
Fuel, purchased power, and gas — utility | 1,981 | 1,881 | 1,968 |
Fuel, purchased power, and gas — non-utility | 6,630 | 5,283 | 3,562 |
Operation and maintenance | 2,451 | 2,270 | 2,261 |
Depreciation and amortization | 1,124 | 1,030 | 976 |
Taxes other than income | 405 | 391 | 370 |
Asset (gains) losses and impairments, net | 27 | 41 | 7 |
Operating Expenses | 12,618 | 10,896 | 9,144 |
Operating Income | 1,594 | 1,711 | 1,486 |
Other (Income) and Deductions | |||
Interest expense | 559 | 536 | 472 |
Interest income | (12) | (12) | (20) |
Non-operating retirement benefits, net | 37 | 65 | 41 |
Other income | (333) | (268) | (207) |
Other expenses | 127 | 103 | 95 |
Other (Income) and Deductions | 378 | 424 | 381 |
Income Before Income Taxes | 1,216 | 1,287 | 1,105 |
Income Tax Expense | 98 | 175 | 271 |
Net Income | 1,118 | 1,112 | 834 |
Less: Net Loss Attributable to Noncontrolling Interests | (2) | (22) | (34) |
Net Income Attributable to DTE Energy Company/DTE Electric Company | $ 1,120 | $ 1,134 | $ 868 |
Basic Earnings per Common Share | |||
Net income attributable to DTE Energy Company (in dollars per share) | $ 6.18 | $ 6.32 | $ 4.84 |
Diluted Earnings per Common Share | |||
Net income attributable to DTE Energy Company (in dollars per share) | $ 6.17 | $ 6.32 | $ 4.83 |
Weighted Average Common Shares Outstanding | |||
Basic (in shares) | 181 | 179 | 179 |
Diluted (in shares) | 181 | 179 | 179 |
DTE Electric | |||
Operating Revenues | |||
Utility operations | $ 5,298 | $ 5,102 | $ 5,225 |
Operating Revenues | 5,298 | 5,102 | |
Operating Expenses | |||
Fuel, purchased power, and gas — utility | 1,552 | 1,454 | 1,532 |
Operation and maintenance | 1,470 | 1,428 | 1,455 |
Depreciation and amortization | 836 | 753 | 750 |
Taxes other than income | 307 | 302 | 284 |
Asset (gains) losses and impairments, net | (1) | 0 | 0 |
Operating Expenses | 4,164 | 3,937 | 4,021 |
Operating Income | 1,134 | 1,165 | 1,204 |
Other (Income) and Deductions | |||
Interest expense | 283 | 274 | 264 |
Interest income | 0 | 0 | (8) |
Other income | (83) | (77) | (61) |
Other expenses | 77 | 40 | 34 |
Other (Income) and Deductions | 277 | 237 | 229 |
Income Before Income Taxes | 857 | 928 | 975 |
Income Tax Expense | 193 | 327 | 353 |
Net Income Attributable to DTE Energy Company/DTE Electric Company | $ 664 | $ 601 | $ 622 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Income | $ 1,118 | $ 1,112 | $ 834 |
Net Income | 1,120 | 1,134 | 868 |
Other comprehensive income (loss), net of tax: | |||
Benefit obligations, net of taxes | 8 | 10 | 11 |
Net unrealized gains (losses) on derivatives during the period, net of taxes | (1) | 1 | 0 |
Net unrealized gains on investments during the period, net of taxes | 0 | 1 | 1 |
Foreign currency translation | (2) | 1 | 0 |
Other comprehensive income | 5 | 13 | 12 |
Comprehensive income | 1,123 | 1,125 | 846 |
Less: Comprehensive loss attributable to noncontrolling interests | (2) | (22) | (34) |
Comprehensive Income Attributable to DTE Energy Company/DTE Electric Company | 1,125 | 1,147 | 880 |
DTE Electric | |||
Net Income | 664 | 601 | 622 |
Other comprehensive income (loss), net of tax: | |||
Net unrealized gains on investments during the period, net of taxes | 0 | 1 | 0 |
Other comprehensive income | 0 | 1 | 0 |
Comprehensive Income Attributable to DTE Energy Company/DTE Electric Company | $ 664 | $ 602 | $ 622 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Tax effect on benefit obligation | $ 2 | $ 5 | $ 6 |
Tax effect on net unrealized gains (losses) on derivatives during the period | 0 | 0 | 0 |
Tax effect on net unrealized gains (losses) on investments during the period | 0 | 1 | 1 |
DTE Electric | |||
Tax effect on net unrealized gains (losses) on investments during the period | $ 0 | $ 1 | $ 0 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 71 | $ 66 |
Restricted cash | 5 | 23 |
Accounts receivable (less allowance for doubtful accounts) | ||
Customer | 1,789 | 1,758 |
Other | 108 | 98 |
Inventories | ||
Fuel and gas | 406 | 399 |
Materials and supplies | 405 | 380 |
Derivative assets | 102 | 103 |
Regulatory assets | 153 | 55 |
Other | 221 | 199 |
Total Current Assets | 3,260 | 3,081 |
Investments | ||
Nuclear decommissioning trust funds | 1,378 | 1,492 |
Investments in equity method investees | 1,771 | 1,073 |
Other | 219 | 232 |
Total Investments | 3,368 | 2,797 |
Property | ||
Property, plant, and equipment | 31,810 | 31,424 |
Accumulated depreciation and amortization | (10,160) | (10,703) |
Property, plant and equipment, net | 21,650 | 20,721 |
Other Assets | ||
Goodwill | 2,293 | 2,293 |
Regulatory assets | 4,568 | 3,723 |
Intangible assets | 849 | 867 |
Notes receivable | 64 | 73 |
Derivative assets | 31 | 51 |
Prepaid postretirement costs | 45 | 0 |
Other | 160 | 161 |
Total Other Assets | 8,010 | 7,168 |
Total Assets | 36,288 | 33,767 |
Current Liabilities | ||
Accounts payable | 1,329 | 1,171 |
Accounts payable | ||
Accrued interest | 127 | 111 |
Dividends payable | 172 | 158 |
Short-term borrowings | 609 | 621 |
Current portion long-term debt, including capital leases | 1,499 | 109 |
Derivative liabilities | 67 | 99 |
Regulatory liabilities | 126 | 18 |
Short-term borrowings | ||
Other | 509 | 525 |
Total Current Liabilities | 4,438 | 2,812 |
Long-Term Debt (net of current portion) | ||
Mortgage bonds, notes, and other | 10,982 | 11,039 |
Junior subordinated debentures | 1,145 | 1,145 |
Capital lease obligations | 7 | 1 |
Total Long-Term Debt (net of current portion) | 12,134 | 12,185 |
Other Liabilities | ||
Deferred income taxes | 1,975 | 1,888 |
Regulatory liabilities | 2,922 | 2,875 |
Asset retirement obligations | 2,469 | 2,320 |
Unamortized investment tax credit | 138 | 122 |
Derivative liabilities | 89 | 47 |
Accrued pension liability | 837 | 924 |
Accrued postretirement liability | 0 | 61 |
Nuclear decommissioning | 205 | 220 |
Other | 364 | 323 |
Total Other Liabilities | 8,999 | 8,780 |
Commitments and Contingencies (Notes 9 and 18) | ||
Equity | ||
Common stock | 4,245 | 3,989 |
Retained earnings | 6,112 | 5,643 |
Accumulated other comprehensive (loss) income | (120) | (120) |
Total DTE Energy Company/DTE Electric Company Equity | 10,237 | 9,512 |
Noncontrolling interests | 480 | 478 |
Total Equity | 10,717 | 9,990 |
Total Liabilities and Equity | 36,288 | 33,767 |
DTE Electric | ||
Current Assets | ||
Cash and cash equivalents | 18 | 15 |
Accounts receivable (less allowance for doubtful accounts) | ||
Customer | 750 | 791 |
Affiliates | 11 | 20 |
Other | 54 | 37 |
Inventories | ||
Fuel and gas | 171 | 190 |
Materials and supplies | 279 | 275 |
Regulatory assets | 148 | 50 |
Other | 89 | 68 |
Total Current Assets | 1,520 | 1,446 |
Investments | ||
Nuclear decommissioning trust funds | 1,378 | 1,492 |
Other | 34 | 36 |
Total Investments | 1,412 | 1,528 |
Property | ||
Property, plant, and equipment | 22,747 | 22,972 |
Accumulated depreciation and amortization | (7,310) | (7,984) |
Property, plant and equipment, net | 15,437 | 14,988 |
Other Assets | ||
Regulatory assets | 3,829 | 3,005 |
Intangible assets | 21 | 25 |
Prepaid postretirement costs — affiliates | 189 | 113 |
Other | 121 | 123 |
Total Other Assets | 4,160 | 3,266 |
Total Assets | 22,529 | 21,228 |
Accounts payable | ||
Affiliates | 71 | 52 |
Other | 441 | 416 |
Accrued interest | 74 | 72 |
Current portion long-term debt, including capital leases | 4 | 5 |
Regulatory liabilities | 98 | 17 |
Short-term borrowings | ||
Affiliates | 101 | 116 |
Other | 149 | 238 |
Other | 139 | 145 |
Total Current Liabilities | 1,077 | 1,061 |
Long-Term Debt (net of current portion) | ||
Mortgage bonds, notes, and other | 6,538 | 6,017 |
Capital lease obligations | 7 | 1 |
Total Long-Term Debt (net of current portion) | 6,545 | 6,018 |
Other Liabilities | ||
Deferred income taxes | 2,246 | 2,088 |
Regulatory liabilities | 2,171 | 2,137 |
Asset retirement obligations | 2,271 | 2,125 |
Unamortized investment tax credit | 137 | 120 |
Nuclear decommissioning | 205 | 220 |
Accrued pension liability — affiliates | 718 | 811 |
Accrued postretirement liability — affiliates | 278 | 311 |
Other | 88 | 72 |
Total Other Liabilities | 8,114 | 7,884 |
Commitments and Contingencies (Notes 9 and 18) | ||
Equity | ||
Common stock | 4,631 | 4,306 |
Retained earnings | 2,162 | 1,956 |
Accumulated other comprehensive (loss) income | 0 | 3 |
Total DTE Energy Company/DTE Electric Company Equity | 6,793 | 6,265 |
Total Liabilities and Equity | $ 22,529 | $ 21,228 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Current Assets: | ||
Allowance for doubtful accounts | $ 91 | $ 49 |
Stockholders' Equity: | ||
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in shares) | 181,925,281 | 179,386,967 |
Common stock, shares outstanding (in shares) | 181,925,281 | 179,386,967 |
DTE Electric | ||
Current Assets: | ||
Allowance for doubtful accounts | $ 53 | $ 31 |
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 | 138,632,234 |
Common stock, shares outstanding (in shares) | 138,632,234 | 138,632,234 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Activities | |||
Net Income | $ 1,118 | $ 1,112 | $ 834 |
Net Income | 1,120 | 1,134 | 868 |
Adjustments to reconcile Net Income to Net cash from operating activities: | |||
Depreciation and amortization | 1,124 | 1,030 | 976 |
Nuclear fuel amortization | 45 | 53 | 58 |
Allowance for equity funds used during construction | (28) | (23) | (21) |
Deferred income taxes | 114 | 196 | 265 |
Equity earnings of equity method investees | (132) | (102) | (68) |
Dividends from equity method investees | 74 | 74 | 68 |
Asset (gains) losses and impairments, net | 29 | 38 | 8 |
Changes in assets and liabilities: | |||
Accounts receivable, net | (44) | (252) | (226) |
Inventories | (32) | (4) | 37 |
Prepaid postretirement benefit costs | (45) | 0 | 0 |
Accounts payable | 146 | 129 | 145 |
Accrued pension liability | (87) | (228) | 19 |
Accrued postretirement liability | (61) | 25 | (192) |
Derivative assets and liabilities | 31 | (94) | 126 |
Regulatory assets and liabilities | 15 | 217 | (40) |
Other current and noncurrent assets and liabilities | 413 | (54) | 95 |
Net cash from operating activities | 2,680 | 2,117 | 2,084 |
Investing Activities | |||
Plant and equipment expenditures — utility | (2,439) | (2,037) | (1,898) |
Plant and equipment expenditures — non-utility | (274) | (213) | (147) |
Acquisition, net of cash acquired | 0 | 0 | (1,147) |
Proceeds from sale of nuclear decommissioning trust fund assets | 1,203 | 1,240 | 1,457 |
Investment in nuclear decommissioning trust funds | (1,188) | (1,226) | (1,463) |
Distributions from equity method investees | 9 | 10 | 11 |
Contributions to equity method investees | (637) | (299) | (239) |
Other | (21) | (37) | 36 |
Net cash used for investing activities | (3,347) | (2,562) | (3,390) |
Financing Activities | |||
Issuance of long-term debt, net of issuance costs | 1,432 | 1,398 | 2,035 |
Redemption of long-term debt | (105) | (385) | (807) |
Repurchase of long-term debt | 0 | 0 | (59) |
Issuance of equity units, net of issuance costs | 0 | 0 | 654 |
Short-term borrowings, net | (12) | ||
Short-term borrowings, net | 122 | 0 | |
Repurchase of common stock | 0 | (51) | (33) |
Dividends on common stock | (620) | (592) | (531) |
Contributions from noncontrolling interests, principally REF entities | 53 | 50 | 114 |
Distributions to noncontrolling interests | (48) | (40) | (5) |
Other | (46) | (81) | (9) |
Net cash from (used for) financing activities | 654 | 421 | 1,359 |
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | (13) | (24) | 53 |
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period | 89 | 113 | 60 |
Cash, Cash Equivalents, and Restricted Cash at End of Period | 76 | 89 | 113 |
Cash and Cash Equivalents at Beginning of Period | 66 | ||
Cash and Cash Equivalents at End of Period | 71 | 66 | |
Supplemental disclosure of cash information | |||
Cash paid (received) for: Interest, net of interest capitalized | 572 | 495 | 448 |
Cash paid (received) for: Income taxes | (26) | 4 | (1) |
Supplemental disclosure of non-cash investing and financing activities | |||
Plant and equipment expenditures in accounts payable | 307 | 295 | 312 |
Premium on equity units | 0 | 0 | 98 |
DTE Electric | |||
Operating Activities | |||
Net Income | 664 | 601 | 622 |
Adjustments to reconcile Net Income to Net cash from operating activities: | |||
Depreciation and amortization | 836 | 753 | 750 |
Nuclear fuel amortization | 45 | 53 | 58 |
Allowance for equity funds used during construction | (19) | (18) | (18) |
Deferred income taxes | 189 | 345 | 342 |
Changes in assets and liabilities: | |||
Accounts receivable, net | 33 | (80) | (64) |
Inventories | 15 | 31 | 26 |
Prepaid postretirement benefit costs — affiliates | (76) | 1 | (90) |
Accounts payable | 54 | (2) | 59 |
Accrued pension liability — affiliates | (93) | (197) | 32 |
Accrued postretirement liability — affiliates | (33) | 42 | (38) |
Regulatory assets and liabilities | 4 | 202 | 10 |
Other current and noncurrent assets and liabilities | 101 | (147) | (34) |
Net cash from operating activities | 1,720 | 1,584 | 1,655 |
Investing Activities | |||
Plant and equipment expenditures | (1,989) | (1,574) | (1,503) |
Proceeds from sale of nuclear decommissioning trust fund assets | 1,203 | 1,240 | 1,457 |
Investment in nuclear decommissioning trust funds | (1,188) | (1,226) | (1,463) |
Other | (15) | 18 | 36 |
Net cash used for investing activities | (1,989) | (1,542) | (1,473) |
Financing Activities | |||
Issuance of long-term debt, net of issuance costs | 519 | 435 | 355 |
Redemption of long-term debt | 0 | (300) | (10) |
Repurchase of long-term debt | 0 | 0 | (59) |
Capital contribution by parent company | 325 | 100 | 120 |
Short-term borrowings, net — affiliate | (15) | (1) | 41 |
Short-term borrowings, net — other | (89) | 176 | (210) |
Dividends on common stock | (461) | (432) | (420) |
Other | (7) | (18) | (1) |
Net cash from (used for) financing activities | 272 | (40) | (184) |
Net Increase (Decrease) in Cash and Cash Equivalents | 3 | 2 | (2) |
Cash and Cash Equivalents at Beginning of Period | 15 | 13 | 15 |
Cash and Cash Equivalents at End of Period | 18 | 15 | 13 |
Supplemental disclosure of cash information | |||
Cash paid (received) for: Interest, net of interest capitalized | 283 | 252 | 252 |
Cash paid (received) for: Income taxes | 0 | (16) | 6 |
Supplemental disclosure of non-cash investing and financing activities | |||
Plant and equipment expenditures in accounts payable | $ 181 | $ 191 | $ 232 |
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, 2015 | 179,470,000 | 138,632,000 | ||||||||
Beginning balance at Dec. 31, 2015 | $ 8,795 | $ 4,123 | $ 4,794 | $ (145) | $ 23 | |||||
Beginning balance at Dec. 31, 2015 | $ 5,673 | $ 1,386 | $ 2,700 | $ 1,585 | $ 2 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net Income (Loss) | 834 | 868 | (34) | |||||||
Net Income | 868 | 622 | 622 | |||||||
Dividends declared on common stock | (548) | (548) | (420) | (420) | ||||||
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 | ||||||||
Other comprehensive income, net of tax | 12 | 12 | 0 | |||||||
Other comprehensive income, net of tax | 1 | 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 | ||||||
Capital contribution by parent company | 120 | 120 | ||||||||
Ending balance (in shares) at Dec. 31, 2016 | 179,433,000 | 138,632,000 | ||||||||
Ending balance at Dec. 31, 2016 | 9,499 | $ 4,030 | 5,114 | (133) | 488 | |||||
Ending balance at Dec. 31, 2016 | 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) | ||||||
Repurchase of common stock (in shares) | (524,000) | |||||||||
Repurchase of common stock | (51) | $ (51) | ||||||||
Other comprehensive income, net of tax | 13 | 13 | 1 | 1 | ||||||
Other comprehensive income, net of tax | 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 | ||||||
Capital contribution by parent company | $ 100 | 100 | ||||||||
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 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net Income (Loss) | 1,118 | 1,120 | (2) | |||||||
Net Income | 1,120 | 664 | 664 | |||||||
Dividends declared on common stock | (653) | (653) | (461) | (461) | ||||||
Issuance of common stock (in shares) | 255,000 | |||||||||
Issuance of common stock | 26 | $ 26 | ||||||||
Contribution of common stock to pension plan (in shares) | 1,751,000 | |||||||||
Contribution of common stock to pension plan | 175 | $ 175 | ||||||||
Other comprehensive income, net of tax | 5 | 5 | 0 | |||||||
Other comprehensive income, net of tax | 0 | 0 | ||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other (in shares) | 532,000 | |||||||||
Stock-based compensation, net contributions from noncontrolling interests, and other | $ 56 | $ 55 | (3) | 4 | ||||||
Capital contribution by parent company | $ 325 | 325 | ||||||||
Ending balance (in shares) at Dec. 31, 2018 | 181,925,281 | 181,925,000 | 138,632,234 | 138,632,000 | ||||||
Ending balance at Dec. 31, 2018 | $ 10,717 | $ 4,245 | $ 6,112 | $ (120) | $ 480 | |||||
Ending balance at Dec. 31, 2018 | $ 10,237 | $ 6,793 | $ 1,386 | $ 3,245 | $ 2,162 | $ 0 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividends declared on common stock (in dollars per share) | $ 3.60 | $ 3.36 | $ 3.06 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2018 | |
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) services related to the gathering, transportation, and storage of natural gas; 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. Due to the implementation of ASU 2017-07, amounts previously included in Operation and maintenance were reclassified to Non-operating retirement benefits, net on the Consolidated Statements of Operations. See Note 3 to the Consolidated Financial Statements, " New Accounting Pronouncements ." 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 generally 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. The Registrants have variable interests in NEXUS, which include DTE Energy's 50% ownership interest and DTE Electric's transportation services contract. NEXUS is a joint venture which owns a 256-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 its ownership interest in 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, 2018 , 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, 2018 , 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 for DTE Energy, 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, 2018 and 2017 . All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below. Amounts for DTE Energy's consolidated VIEs are as follows: December 31, 2018 December 31, 2017 SGG (a) Other Total SGG (a) Other Total (In millions) ASSETS Cash and cash equivalents $ 25 $ 14 $ 39 $ 23 $ 14 $ 37 Restricted cash — 5 5 — 8 8 Accounts receivable 9 37 46 11 42 53 Inventories 1 92 93 3 114 117 Property, plant, and equipment, net 395 46 441 400 75 475 Goodwill 25 — 25 25 — 25 Intangible assets 557 — 557 572 — 572 Other current and long-term assets 3 — 3 4 — 4 $ 1,015 $ 194 $ 1,209 $ 1,038 $ 253 $ 1,291 LIABILITIES Accounts payable and accrued current liabilities $ 3 $ 31 $ 34 $ 26 $ 47 $ 73 Current portion long-term debt, including capital leases — — — — 4 4 Mortgage bonds, notes, and other — — — — 1 1 Other current and long-term liabilities 9 10 19 1 16 17 $ 12 $ 41 $ 53 $ 27 $ 68 $ 95 _____________________________________ (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, 2018 2017 (In millions) Investments in equity method investees $ 1,425 $ 811 Notes receivable $ 15 $ 17 Future funding commitments $ 55 $ 598 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, 2018 and 2017 , 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 $59 million and $72 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 2018 2017 2018 2017 Description (In millions) Significant Equity Method Investees Gas Storage and Pipelines NEXUS Pipeline $ 1,260 $ 640 50% 50% 256-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers Vector Pipeline 123 115 40% 40% 348-mile pipeline connecting Chicago, Michigan, and Ontario market centers Millennium Pipeline 202 124 26% 26% 269-mile pipeline serving markets in the Northeast 1,585 879 Other Equity Method Investees Other Segments 186 194 $ 1,771 $ 1,073 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 ." The following table presents summarized financial information of subsidiaries not consolidated and 50 percent or less owned by DTE Energy. The amounts included in the table below represents 100% of the results of continuing operations of such entities accounted for under the equity method of accounting. Summarized balance sheet data is as follows: December 31, 2018 2017 (In millions) Current Assets $ 358 $ 344 Non-current assets $ 5,101 $ 3,576 Current Liabilities $ 391 $ 345 Non-current liabilities $ 762 $ 858 Summarized income statement data is as follows: December 31, 2018 2017 2016 (In millions) Operating Revenues $ 883 $ 756 $ 767 Operating Expenses $ 622 $ 561 $ 526 Net Income $ 365 $ 254 $ 225 |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES 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 related to fixed non-refundable cash payments received from investors for which the earnings process is not contingent upon production of refined coal is recognized on a straight-line basis over the non-cancelable contract term as the economic benefit from the ownership of the facility is transferred to investors. Other income related to cash payments that is contingent upon production of refined coal is considered earned and recognized when the contingency regarding the timing and amount of payment is resolved, generally as refined coal is produced and tax credits are generated. The following is a summary of DTE Energy's Other income: 2018 2017 2016 (In millions) Equity earnings of equity method investees $ 132 $ 102 $ 68 Income from REF entities 98 77 75 Contract services 51 19 21 Allowance for equity funds used during construction 28 23 21 Gains from trading securities 6 26 15 Other 18 21 7 $ 333 $ 268 $ 207 The following is a summary of DTE Electric's Other income: 2018 2017 2016 (In millions) Contract services $ 51 $ 21 $ 20 Allowance for equity funds used during construction 19 18 18 Gains from trading securities allocated from DTE Energy 6 26 15 Other 7 12 8 $ 83 $ 77 $ 61 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. The following table summarizes the changes in DTE Energy's Accumulated other comprehensive income (loss) by component (a) for the years ended December 31, 2018 and 2017 : 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, 2016 $ (4 ) $ (3 ) $ (120 ) $ (6 ) $ (133 ) Other comprehensive income (loss) before reclassifications — 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 ) Implementation of ASU 2016-01 (7 ) 2 — — (5 ) Other comprehensive loss before reclassifications (2 ) — (1 ) (2 ) (5 ) Amounts reclassified from Accumulated other comprehensive income 1 — 9 — 10 Net current-period Other comprehensive income (loss) (8 ) 2 8 (2 ) — Balance, December 31, 2018 $ (11 ) $ — $ (102 ) $ (7 ) $ (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. The following is a table that provides a reconciliation of DTE Energy's Cash and cash equivalents as well as Restricted cash reported within the Consolidated Statements of Financial Position that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows: 2018 2017 (In millions) Cash and cash equivalents $ 71 $ 66 Restricted cash 5 23 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows $ 76 $ 89 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 $1.0 billion at December 31, 2018 and 2017 include $264 million and $290 million of DTE Electric unbilled revenues, respectively, included in Customer Accounts receivable. 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 $48 million and $29 million as of December 31, 2018 and 2017 , respectively, is determined using the last-in, first-out (LIFO) method. The replacement cost of gas in inventory exceeded the LIFO cost by $113 million and $81 million at December 31, 2018 and 2017 , 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 $4 million and $15 million of expenses related to Fermi 2 refueling outages were accrued at December 31, 2018 and 2017 , 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, 2018 December 31, 2017 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 25 - 40 years (a) $ 779 $ (44 ) $ 735 $ 770 $ (24 ) $ 746 Contract intangibles 6 to 26 years 159 (66 ) 93 168 (72 ) 96 938 (110 ) 828 938 (96 ) 842 DTE Electric renewable energy credits (b) 20 — 20 24 — 24 DTE Electric emission allowances (b) 1 — 1 1 — 1 21 — 21 25 — 25 Long-term intangible assets DTE Electric $ 21 $ — $ 21 $ 25 $ — $ 25 DTE Energy $ 959 $ (110 ) $ 849 $ 963 $ (96 ) $ 867 ______________________________________ (a) 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. (b) 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 2023 : 2019 2020 2021 2022 2023 (In millions) Estimated amortization expense $ 27 $ 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 $27 million in 2018 , $29 million in 2017 , and $16 million in 2016 . 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 record investments in debt and equity securities at market value with unrealized gains or losses included in earnings. 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 an impairment exists, 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 ." DTE Energy Foundation DTE Energy's charitable contributions to the DTE Energy Foundation were $22 million , $43 million , and $26 million for the years ended December 31, 2018 , 2017 , and 2016 , 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 4 Revenue 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, 2018 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements | NEW ACCOUNTING PRONOUNCEMENTS Recently Adopted 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 required 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 using either a full retrospective or modified retrospective approach. The Registrants adopted the standard effective January 1, 2018, using the modified retrospective approach. Under the modified retrospective approach, the information for periods prior to the adoption date has not been restated and continues to be reported under the accounting standards in effect for those periods. As permitted under the standard, the Registrants have elected to apply the guidance only to those contracts that were not completed at January 1, 2018, and have elected not to restate the impacts of any contract modifications made prior to the earliest period presented. The adoption of the ASU did not have a significant impact on the Registrants' financial position or results of operations, but required additional disclosures for revenue. See Note 4 to the Consolidated Financial Statements, " Revenue ." 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 required 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 of income from operations. The amendments in this update also allow only the service cost component to be eligible for capitalization when applicable. The Registrants adopted the standard effective January 1, 2018. The standard has been 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. As permitted by the standard, the Registrants have used benefit cost amounts disclosed for prior periods as the basis for retrospective application in the income statement. As a result of regulatory mechanisms, the impact to the Consolidated Financial Statements was not material for the year ended December 31, 2018 . In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , as amended. The new guidance is intended to improve the recognition and measurement of financial instruments. The guidance primarily impacts accounting for equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) and financial liabilities under the fair value option. The guidance requires equity investments to be generally measured at fair value, with subsequent changes in fair value recognized in net income. The guidance requires entities to make a cumulative-effect adjustment to the Statements of Financial Position as of the beginning of the first reporting period in which the guidance is effective. The Registrants adopted the standard effective January 1, 2018. Upon adoption, DTE Energy and DTE Electric recorded a cumulative-effect adjustment to reclassify $5 million and $3 million of unrealized gains from Accumulated other comprehensive income (loss) to Retained earnings, respectively. In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 118 . The Amendments in this update add various SEC paragraphs pursuant to the issuance of SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (SAB 118) . SAB 118 directs 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. As described in Note 10 to the Consolidated Financial Statements, "Income Taxes," within the combined DTE Energy and DTE Electric 2017 Annual Report on Form 10-K and in accordance with SAB 118, the Registrants recorded amounts that were considered provisional. During the year ended December 31, 2018 , DTE Energy and DTE Electric finalized their SAB 118 analysis and recorded true-up adjustments to the remeasurement of deferred taxes of $21 million and $7 million , respectively. The impact of the true-up adjustments was an increase in Income Tax Expense, of which $17 million was attributable to the regulated utilities and increased Regulatory liabilities. The true-up adjustments were a result of further analysis for items subject to further consideration at December 31, 2017, under SAB 118 and primarily related to timing differences not recoverable from DTE Electric and DTE Gas customers. Recently Issued Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), as amended. This guidance requires a lessee to account for leases as finance or operating leases, and disclose 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, depending on the lease classification. The Registrants will adopt the standard on January 1, 2019. The standard allows lessees and lessors to apply either, 1) a modified retrospective approach for leases existing or entered into after the beginning of the earliest comparative period in the Consolidated Financial Statements, or 2) a prospective transition approach for leases existing as of January 1, 2019 with a cumulative effect adjustment to be recorded to retained earnings. The Registrants will apply the standard on a prospective basis. The Registrants will elect the package of practical expedients allowing entities to not reassess whether an agreement is a lease, to carryforward the existing lease classification, and to not reassess initial direct costs associated with existing leases. These practical expedients apply to leases that commenced prior to January 1, 2019. The Registrants will also elect to exclude leases from the balance sheet that are for a period of one year or less, as well as, the practical expedient allowing entities to not evaluate land easements under the new guidance at adoption if they were not previously accounted for as leases. A third-party software tool has been implemented that will assist with the initial adoption and ongoing compliance of the standard. The Registrants are implementing new business processes, internal controls, and accounting policies. The Registrants are in the process of drafting disclosures to satisfy the standard's requirements. In addition, the Registrants are continuing to monitor utility industry implementation guidance and interpretation. While the Registrants expect an increase in assets and liabilities, as well as additional disclosures, they are still assessing the impact of this ASU on their Consolidated Financial Statements. 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 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. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement . The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820. The ASU is effective for the Registrants for fiscal years 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 August 2018, the FASB issued ASU No. 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans . The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for the Registrants for fiscal years ending after December 15, 2020. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract . The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The ASU is effective for the Registrants for fiscal years 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 October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities . The amendments in this update modify the requirements for determining whether a decision-making fee is a variable interest and require reporting entities to consider indirect interests held through related parties under common control on a proportional basis. The ASU is effective for the Registrants for fiscal years 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. |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | REVENUE Significant Accounting Policy Upon the adoption of Topic 606, revenue is measured based upon the consideration specified in a contract with a customer at the time when performance obligations are satisfied. Under Topic 606, a performance obligation is a promise in a contract to transfer a distinct good or service or a series of distinct goods or services to the customer. The Registrants recognize revenue when performance obligations are satisfied by transferring control over a product or service to a customer. The Registrants have determined control to be transferred when the product is delivered or the service is provided to the customer. For the year ended December 31, 2018 , recognition of revenue for the Registrants subsequent to the adoption of Topic 606 is substantially similar in amount and approach to that prior to adoption. 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 discussion of derivative contracts, see Note 13 to the Consolidated Financial Statements, " Financial and Other Derivative Instruments ." Disaggregation of Revenue The following is a summary of revenues disaggregated by segment for DTE Energy: 2018 (In millions) Electric (a) Residential $ 2,494 Commercial 1,794 Industrial 690 Other 320 Total Electric operating revenues (b) $ 5,298 Gas Gas sales $ 1,055 End User Transportation 232 Intermediate Transportation 58 Other 91 Total Gas operating revenues (c) $ 1,436 Other segment operating revenues Gas Storage and Pipelines $ 485 Power and Industrial Projects (d) $ 2,204 Energy Trading (e) $ 5,557 _______________________________________ (a) Revenues under the Electric segment generally represent those of DTE Electric. (b) Includes $21 million under Alternative Revenue Programs and $20 million of other revenues, which are both outside the scope of Topic 606 for the year ended December 31, 2018 . (c) Includes $2 million under Alternative Revenue Programs and $7 million of other revenues, which are both outside the scope of Topic 606 for the year ended December 31, 2018 . (d) Includes revenues outside the scope of Topic 606 primarily related to $125 million of contracts accounted for as leases for the year ended December 31, 2018 . (e) Includes revenues outside the scope of Topic 606 primarily related to $4.5 billion of derivatives for the year ended December 31, 2018 . Nature of Goods and Services The following is a description of principal activities, separated by reportable segments, from which DTE Energy generates revenue. For more detailed information about reportable segments, see Note 22 to the Consolidated Financial Statements, “ Segment and Related Information .” The Registrants have contracts with customers which may contain more than one performance obligation. When more than one performance obligation exists in a contract, the consideration under the contract is allocated to the performance obligations based on the relative standalone selling price. DTE Energy generally determines standalone selling prices based on the prices charged to customers or the use of the adjusted market assessment approach. The adjusted market assessment approach involves the evaluation of the market in which DTE Energy sells goods or services and estimating the price that a customer in that market would be willing to pay. Under Topic 606, when a customer simultaneously receives and consumes the product or service provided, revenue is considered to be recognized over time. Alternatively, if it is determined that the criteria for recognition of revenue over time is not met, the revenue is considered to be recognized at a point in time. Electric Electric consists principally of DTE Electric. Electric revenues are primarily comprised of the supply and delivery of electricity, and related capacity. Revenues are primarily associated with cancelable contracts, with the exception of certain long-term contracts with commercial and industrial customers. Revenues, including estimated unbilled amounts, are generally recognized over time based upon volumes delivered or through the passage of time ratably based upon providing a stand-ready service. The Registrants have determined that the above methods represent a faithful depiction of the transfer of control to the customer. Unbilled revenues are typically determined utilizing approved tariff rates and estimated meter volumes. Estimated unbilled amounts recognized in revenue are subject to adjustment in the following reporting period as actual volumes by customer class are known. Revenues are typically subject to tariff rates based upon customer class and type of service, and are billed and received monthly. Tariff rates are determined by the MPSC on a per unit or monthly basis. Gas Gas consists principally of DTE Gas. Gas revenues are primarily comprised of the supply and delivery of natural gas, and other services including storage, transportation, and appliance maintenance. Revenues are primarily associated with cancelable contracts with the exception of certain long-term contracts with commercial and industrial customers. Revenues, including estimated unbilled amounts, are generally recognized over time based upon volumes delivered or through the passage of time ratably based upon providing a stand-ready service. DTE Energy has determined that the above methods represent a faithful depiction of the transfer of control to the customer. Unbilled revenues are typically determined using both estimated meter volumes and estimated usage based upon the number of unbilled days and historical temperatures. Estimated unbilled amounts recognized in revenue are subject to adjustment in the following reporting period as actual volumes by customer class and service type are known. Revenues are typically subject to tariff rates or other rates subject to regulatory oversight and are billed and received monthly. Tariff rates are determined by the MPSC on a per unit or monthly basis. Gas Storage and Pipelines Gas Storage and Pipelines revenues generally consist of services related to the gathering, transportation, and storage of natural gas. Contracts are primarily long-term in nature. Revenues, including estimated unbilled amounts, are generally recognized over time based upon services provided or through the passage of time ratably based upon providing a stand-ready service. DTE Energy has determined that the above methods represent a faithful depiction of the transfer of control to the customer. Revenues are typically billed and received monthly. Pricing for such revenues may consist of demand rates, commodity rates, transportation rates, and other associated fees. Consideration may consist of both fixed and variable components. Generally, uncertainties in the variable consideration components are resolved and revenues are known at the time of recognition. Power and Industrial Projects Power and Industrial Projects revenues include contracts accounted for as leases which are outside of the scope of Topic 606. For performance obligations within the scope of Topic 606, the timing of revenue recognition is dependent upon when control over the associated product or service is transferred. Revenues at Power and Industrial Projects, within the scope of Topic 606, generally consist of sales of refined coal, coal, blast furnace coke, coke oven gas, electricity, equipment maintenance services, and other energy related products and services. Revenues, including estimated unbilled amounts, for the sale of blast furnace coke are generally recognized at a point in time when the product is delivered, which represents the transfer of control to the customer. Other revenues are generally recognized over time based upon services provided or through the passage of time ratably based upon providing a stand-ready service. DTE Energy has determined that the above methods represent a faithful depiction of the transfer of control to the customer. Market based pricing structures exist in such contracts including adjustments for consumer price or other indices. Consideration may consist of both fixed and variable components. Generally, uncertainties in the variable consideration components are resolved and revenues are known at the time of recognition. Billing terms vary and are generally monthly with payment terms typically within 30 days following billing. Energy Trading Energy Trading revenues consist primarily of derivative contracts outside of the scope of Topic 606. For performance obligations within the scope of Topic 606, the timing of revenue recognition is dependent upon when control over the associated product or service is transferred. Revenues, including estimated unbilled amounts, within the scope of Topic 606 arising from the sale of natural gas, electricity, power capacity, and other energy related products are generally recognized over time based upon volumes delivered or through the passage of time ratably based upon providing a stand-ready service. DTE Energy has determined that the above methods represent a faithful depiction of the transfer of control to the customer. Revenues are known at the time of recognition. Payment for the aforementioned revenues is generally due from customers in the month following delivery. Revenues associated with RECs are recognized at a point in time when control of the RECs are transferred to the customer which is deemed to be when the subject RECs are entered for transfer to the customer in the applicable regulatory tracking system. Revenues associated with RECs under a wholesale full requirements power contract are deferred until control has been transferred. The deferred revenues represent a contract liability for which payment has been received and the amounts have been estimated using the adjusted market assessment approach. With the exception of RECs, generally all other performance obligations associated with wholesale full requirements power contracts are satisfied over time in conjunction with the delivery of power. At the time power is delivered, DTE Energy may not have control over the RECs as the RECs are not self-generated and may not yet have been procured resulting in deferred revenues. Deferred Revenue The following is a summary of deferred revenue activity: DTE Energy (In millions) Beginning Balance, January 1, 2018 $ 56 Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 48 Revenue recognized that was included in the deferred revenue balance at the beginning of the period (30 ) Ending Balance, December 31, 2018 $ 74 The deferred revenues at DTE Energy generally represent amounts paid by or receivable from customers for which the associated performance obligation has not yet been satisfied. Deferred revenues include amounts associated with REC performance obligations under certain wholesale full requirements power contracts. Deferred revenues associated with RECs are recognized as revenue when control of the RECs has transferred. Other performance obligations associated with deferred revenues include providing products and services related to customer prepayments. Deferred revenues associated with these products and services are recognized when control has transferred to the customer. The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods: DTE Energy (In millions) 2019 $ 46 2020 1 2021 5 2022 7 2023 5 2024 and thereafter 10 $ 74 Transaction Price Allocated to the Remaining Performance Obligations In accordance with optional exemptions available under Topic 606, the Registrants did not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Registrants have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation. Such contracts consist of varying types of performance obligations across the segments, including the supply and delivery of energy related products and services. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Contract lengths vary from cancelable to multi-year. The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted: DTE Energy DTE Electric (In millions) 2019 $ 267 $ 8 2020 263 — 2021 219 — 2022 172 — 2023 139 — 2024 and thereafter 658 — $ 1,718 $ 8 Other Matters DTE Energy and DTE Electric have recognized charges of $140 million and $85 million related to expense recognized for estimated uncollectible accounts receivable for the year ended December 31, 2018 , respectively. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2018 | |
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: 2018 2017 (In millions) Balance as of January 1 $ 2,293 $ 2,286 Goodwill attributable to Gas Storage and Pipelines 2016 acquisition of AGS and SGG — 7 Balance at December 31 $ 2,293 $ 2,293 |
Property, Plant, and Equipment
Property, Plant, and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
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: 2018 2017 Property, plant, and equipment (In millions) DTE Electric Generation $ 11,027 $ 12,166 Distribution 9,153 8,637 Other 2,567 2,169 Total DTE Electric 22,747 22,972 DTE Gas Distribution 3,823 3,523 Storage 548 533 Transmission and other 1,204 1,118 Total DTE Gas 5,575 5,174 Non-utility and other 3,488 3,278 Total DTE Energy 31,810 31,424 Accumulated depreciation and amortization DTE Electric Generation (3,609 ) (4,403 ) Distribution (2,974 ) (2,914 ) Other (727 ) (667 ) Total DTE Electric (7,310 ) (7,984 ) DTE Gas Distribution (1,283 ) (1,238 ) Storage (165 ) (159 ) Transmission and other (404 ) (384 ) Total DTE Gas (1,852 ) (1,781 ) Non-utility and other (998 ) (938 ) Total DTE Energy (10,160 ) (10,703 ) Net DTE Energy Property, plant, and equipment $ 21,650 $ 20,721 Net DTE Electric Property, plant, and equipment $ 15,437 $ 14,988 The following is a summary of the Registrants' AFUDC and interest capitalized for the years ended December 31: DTE Energy DTE Electric 2018 2017 2018 2017 (In millions) Allowance for debt funds used during construction and interest capitalized $ 15 $ 13 $ 9 $ 8 Allowance for equity funds used during construction 28 23 19 18 Total $ 43 $ 36 $ 28 $ 26 The composite depreciation rate for DTE Electric was approximately 3.7% , 3.6% , and 3.5% in 2018 , 2017 and 2016 , respectively. The composite depreciation rate for DTE Gas was 2.7% , in 2018 and 2017 , and 2.4% in 2016 . The average estimated useful life for each major class of utility Property, plant, and equipment as of December 31, 2018 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 3 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: 2018 2017 2016 (In millions) Property, plant, and equipment $ 912 $ 865 $ 783 Regulatory assets and liabilities 212 165 193 $ 1,124 $ 1,030 $ 976 The following is a summary of Depreciation and amortization expense for DTE Electric: 2018 2017 2016 (In millions) Property, plant, and equipment $ 657 $ 620 $ 582 Regulatory assets and liabilities 179 133 168 $ 836 $ 753 $ 750 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 1 to 15 years for DTE Energy and 3 to 15 years for DTE Electric. The following balances for capitalized software relate to DTE Energy: Year Ended December 31, 2018 2017 2016 (In millions) Amortization expense of capitalized software $ 108 $ 101 $ 89 Gross carrying value of capitalized software $ 905 $ 890 Accumulated amortization of capitalized software $ 534 $ 500 The following balances for capitalized software relate to DTE Electric: Year Ended December 31, 2018 2017 2016 (In millions) Amortization expense of capitalized software $ 101 $ 93 $ 83 Gross carrying value of capitalized software $ 799 $ 774 Accumulated amortization of capitalized software $ 463 $ 423 DTE Energy is the lessor under certain operating leases for energy facilities and related equipment. Property under operating leases for DTE Energy is as follows: DTE Energy 2018 2017 (In millions) Gross property under operating leases $ 447 $ 327 Accumulated amortization of property under operating leases $ 148 $ 108 The Registrants are the lessee under certain capital leases related to software and information technology related equipment. Property under capital leases for the Registrants is as follows: DTE Energy DTE Electric 2018 2017 2018 2017 (In millions) Gross property under capital leases $ 18 $ 44 $ 18 $ 18 Accumulated amortization of property under capital leases $ 7 $ 38 $ 7 $ 12 |
Jointly-Owned Utility Plant
Jointly-Owned Utility Plant | 12 Months Ended |
Dec. 31, 2018 | |
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. DTE Electric's ownership information of the two utility plants as of December 31, 2018 was as follows: Belle River Ludington Hydroelectric Pumped Storage In-service date 1984-1985 1973 Ownership interest 81% 49% Investment in Property, plant, and equipment (in millions) $ 1,819 $ 586 Accumulated depreciation (in millions) $ 1,068 $ 187 Belle River The Michigan Public Power Agency (MPPA) has ownership interests 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, 2018 | |
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 2018 follows: DTE Energy DTE Electric (In millions) Asset retirement obligations at December 31, 2017 $ 2,320 $ 2,125 Accretion 140 129 Liabilities incurred 27 27 Liabilities settled (16 ) (8 ) Revision in estimated cash flows (2 ) (2 ) Asset retirement obligations at December 31, 2018 $ 2,469 $ 2,271 Approximately $2.0 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, 2018 | |
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 2018 2017 2018 2017 Assets (In millions) Recoverable pension and other postretirement costs Pension $ 1,961 $ 2,000 $ 1,476 $ 1,502 Other postretirement costs 213 278 121 211 Asset retirement obligation 778 569 778 569 Recoverable undepreciated costs on retiring plants 630 — 630 — Removal costs asset 407 299 407 299 Recoverable Michigan income taxes 201 213 161 171 Accrued PSCR/GCR revenue 116 17 116 17 Deferred environmental costs 69 75 — — Unamortized loss on reacquired debt 60 65 43 46 Recoverable income taxes related to AFUDC equity 51 41 41 35 Energy Waste Reduction incentive 49 39 39 30 Nuclear Performance Evaluation and Review Committee Tracker 43 22 43 22 Customer360 deferred costs 42 45 42 45 Other recoverable income taxes 23 26 23 26 Transitional Reconciliation Mechanism 21 46 21 46 Other 57 43 36 36 4,721 3,778 3,977 3,055 Less amount included in Current Assets (153 ) (55 ) (148 ) (50 ) $ 4,568 $ 3,723 $ 3,829 $ 3,005 DTE Energy DTE Electric 2018 2017 2018 2017 Liabilities (In millions) Refundable federal income taxes $ 2,410 $ 2,384 $ 1,958 $ 1,946 Removal costs liability 253 265 — — TCJA rate reduction liability 118 — 93 — Negative other postretirement offset 101 80 79 67 Renewable energy 86 112 86 112 Refundable self-implemented rates 26 2 26 2 Negative pension offset 9 21 — — Fermi 2 refueling outage 4 15 4 15 Other 41 14 23 12 3,048 2,893 2,269 2,154 Less amount included in Current Liabilities (126 ) (18 ) (98 ) (17 ) $ 2,922 $ 2,875 $ 2,171 $ 2,137 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) • Recoverable undepreciated costs on retiring plants — Deferral of estimated remaining balances associated with coal power plants expected to be retired within the 2020 to 2023 time-frame. • 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. • 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. • 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. • 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. • Energy Waste Reduction incentive — DTE Electric and DTE Gas operate MPSC approved energy waste reduction programs designed to reduce overall energy usage by their customers. The utilities are eligible to earn an incentive by exceeding statutory savings targets. The utilities have consistently exceeded the savings targets and recognize the incentive as a regulatory asset in the period earned. (a) • 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. • 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. • 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. • 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. ________________________________________________ (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. • TCJA rate reduction liability — Due to the change in the corporate Federal income tax rate from 35% to 21%, DTE Electric and DTE Gas reduced rates charged to customers during 2018. A regulatory liability equal to the difference between revenues billed based on a 35% rate, and revenues based on a 21% rate, was accrued for the period January 1, 2018 through the date the lower rates were implemented. The refund of the liability will commence on January 1, 2019 through June 30, 2019. • 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. • Renewable energy — Amounts collected in rates in excess of renewable energy expenditures. • Refundable self-implemented rates — Amounts refundable to customers for base rates implemented from November 1, 2017 to May 1, 2018 in excess of amounts authorized in the June 2018 DTE Electric rate order from the MPSC. • 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. 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. On November 1, 2017, DTE Electric self-implemented a base rate increase of $125 million . On April 18, 2018, the MPSC issued an order approving an annual revenue increase of $65.2 million for service rendered on or after May 1, 2018. The MPSC authorized a return on equity of 10.0% . On June 28, 2018, the MPSC issued an order on a rehearing granting in part and denying in part, petitions for rehearings of DTE Electric and other intervenors. As a result, the approved addition to base rates increased from $65.2 million to $74.4 million . In August 2018, DTE Electric filed to refund its customers $26.2 million , inclusive of interest, based on their pro rata share of the revenue collected through the self-implementation surcharge in effect from November 1, 2017 to May 1, 2018. DTE Electric has recorded a refund liability as of December 31, 2018 . 2018 Electric Rate Case Filing DTE Electric filed a rate case with the MPSC on July 6, 2018 requesting an increase in base rates of $328 million based on a projected twelve-month period ending April 30, 2020. The requested increase in base rates is primarily due to an increase in net plant resulting from infrastructure investments, depreciation expense, as requested in the 2016 DTE Electric Depreciation Case Filing, and reliability improvement projects. The rate filing also requests an increase in return on equity from 10.0% to 10.5% and includes projected changes in sales, operation and maintenance expenses, and working capital. In addition, the rate filing requests an Infrastructure Recovery Mechanism to recover the incremental revenue requirement associated with certain distribution, fossil generation, and nuclear generation capital expenditures through 2022. Finally, as noted in the 2017 Tax Reform section below, DTE Electric addressed Calculation C in this filing. A final MPSC order in this case is expected by May 2019. 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. The MPSC issued an order April 27, 2018 approving DTE Electric's request for the three CONs with recoverable amounts through rates up to $951.8 million . In August 2018, DTE Electric began construction on its natural gas fueled combined cycle generation facility. 2016 DTE Electric Depreciation Case Filing DTE Electric filed a depreciation case with the MPSC on November 1, 2016 requesting an increase in depreciation rates for plant in service balances as of December 31, 2015. The MPSC issued an order on December 6, 2018 authorizing DTE Electric to increase its depreciation rates from 3.06% to 3.72% . The new rates will be effective upon a final order in DTE Electric's 2018 rate case filing expected by May 2019. 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 was primarily due to an increase in net plant. The rate filing also requested an increase in return on equity from 10.1% to 10.5% and included projected changes in sales, operations and maintenance expenses, and working capital. On May 24, 2018, DTE Gas reduced its initial requested increase in base rates to $38.1 million , primarily due to the effects of the TCJA on the original request. On September 13, 2018, the MPSC issued an order approving an annual revenue increase of $9 million for services rendered on or after October 1, 2018. The MPSC authorized a return on equity of 10.0% . Refer to the 2017 Tax Reform section below for further detail regarding the impact of the TCJA Credit A filing for DTE Gas. 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 their recommended method to flow the current and deferred tax benefits of those impacts to ratepayers. On February 22, 2018, the MPSC issued an order in this case requiring utilities, including DTE Electric and DTE Gas, to follow a 3-step approach of credits and calculations. The first step is to establish Credit A, through contested cases. Credit A is a going-forward tax credit to reflect the reduction of the corporate tax rate from 35% to 21%. DTE Gas submitted its Credit A filing on March 28, 2018, reflecting a reduction in revenues of $38.2 million . The MPSC approved the $38.2 million reduction on May 30, 2018, effective July 1, 2018. With approval of the DTE Gas Rate Order on September 13, 2018, effective October 1, 2018, this separate Credit A was terminated. DTE Electric filed its Credit A application on May 18, 2018, reflecting a reduction in revenues of $157 million . On July 24, 2018, the MPSC issued an order approving a settlement in DTE Electric's Credit A filing reflecting a reduction in revenues of $157 million . Rates reflecting this reduction were effective August 1, 2018. The second step is to establish Credit B, through contested cases. Credit B is a backward-looking tax credit to reflect the reduction of the corporate rate of 35% to 21%, for the period January 1, 2018 up to the date Credit A is implemented. The Credit B filing is required within sixty days after Credit A is implemented. For Credit B, DTE Electric and DTE Gas have been deferring the impact of the reduction to the corporate tax rate since January 1, 2018. DTE Gas submitted its Credit B filing on July 30, 2018, reflecting a $25 million refund effective January 2019 through June 2019. On October 24, 2018, the MPSC issued an order approving the refund in DTE Gas' Credit B filing. DTE Electric submitted its Credit B filing on September 21, 2018, reflecting a $93 million refund effective January 2019 through June 2019. On December 20, 2018, the MPSC issued an order approving the $93 million refund, inclusive of interest, in DTE Electric's Credit B filing, which commenced on January 1, 2019 through June 30, 2019. The third step is to perform Calculation C to address all remaining issues relative to the new tax law, which is primarily the remeasurement of deferred taxes and how the amounts deferred as Regulatory liabilities will flow to ratepayers. DTE Gas filed its Calculation C case on November 16, 2018 to reduce the revenue requirement by $12 million related to the amortization of deferred tax remeasurement. DTE Electric addressed Calculation C in its general rate case filed July 6, 2018. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
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 $8 million and $12 million at December 31, 2018 and 2017 , respectively. The Registrants' total Income Tax Expense varied from the statutory federal income tax rate for the following reasons: 2018 2017 2016 DTE Energy (In millions) Income Before Income Taxes $ 1,216 $ 1,287 $ 1,105 Income tax expense at statutory rate - 21% in 2018 - 35% in 2017 and 2016 $ 255 $ 450 $ 387 Production tax credits (223 ) (189 ) (145 ) Investment tax credits (4 ) (4 ) (5 ) Depreciation 2 (4 ) (4 ) Noncontrolling interests 2 8 12 AFUDC equity (14 ) (18 ) (10 ) Employee Stock Ownership Plan dividends (3 ) (5 ) (5 ) Stock based compensation (3 ) (14 ) — Subsidiary stock loss — — (10 ) State and local income taxes, net of federal benefit 60 51 58 Enactment of the Tax Cuts and Jobs Act 21 (105 ) — Other, net 5 5 (7 ) Income Tax Expense $ 98 $ 175 $ 271 Effective income tax rate 8.1 % 13.6 % 24.5 % 2018 2017 2016 DTE Electric (In millions) Income Before Income Taxes $ 857 $ 928 $ 975 Income tax expense at statutory rate - 21% in 2018 - 35% in 2017 and 2016 $ 180 $ 325 $ 341 Production tax credits (35 ) (36 ) (30 ) Investment tax credits (3 ) (4 ) (4 ) Depreciation 2 3 3 AFUDC equity (3 ) (5 ) (6 ) Employee Stock Ownership Plan dividends (2 ) (3 ) (3 ) State and local income taxes, net of federal benefit 49 48 56 Enactment of the Tax Cuts and Jobs Act 7 — — Other, net (2 ) (1 ) (4 ) Income Tax Expense $ 193 $ 327 $ 353 Effective income tax rate 22.5 % 35.2 % 36.2 % Components of the Registrants' Income Tax Expense were as follows: 2018 2017 2016 DTE Energy (In millions) Current income tax expense (benefit) Federal $ (17 ) $ (22 ) $ (1 ) State and other income tax 1 1 7 Total current income taxes (16 ) (21 ) 6 Deferred income tax expense Federal 38 118 184 State and other income tax 76 78 81 Total deferred income taxes 114 196 265 $ 98 $ 175 $ 271 2018 2017 2016 DTE Electric (In millions) Current income tax expense (benefit) Federal $ — $ (17 ) $ — State and other income tax 4 (1 ) 11 Total current income taxes 4 (18 ) 11 Deferred income tax expense Federal 131 270 268 State and other income tax 58 75 74 Total deferred income taxes 189 345 342 $ 193 $ 327 $ 353 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 Registrant's 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 2018 2017 2018 2017 (In millions) Property, plant, and equipment $ (3,462 ) $ (3,276 ) $ (2,840 ) $ (2,698 ) Regulatory assets and liabilities (54 ) (94 ) (3 ) (31 ) Tax credit carry-forwards 1,178 947 250 193 Pension and benefits 311 334 258 302 Federal net operating loss carry-forward 117 83 2 47 State and local net operating loss carry-forwards 59 70 1 5 Investments in equity method investees (216 ) (82 ) (1 ) — Other 125 170 87 94 (1,942 ) (1,848 ) (2,246 ) (2,088 ) Less valuation allowance (33 ) (40 ) — — Long-term deferred income tax liabilities $ (1,975 ) $ (1,888 ) $ (2,246 ) $ (2,088 ) Deferred income tax assets $ 2,021 $ 1,814 $ 855 $ 830 Deferred income tax liabilities (3,996 ) (3,702 ) (3,101 ) (2,918 ) $ (1,975 ) $ (1,888 ) $ (2,246 ) $ (2,088 ) Tax credit carry-forwards for DTE Energy include $871 million of general business credits that expire from 2034 through 2038 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 $555 million as of December 31, 2018 . The net operating loss carry-forwards generated in 2015 and 2016 will expire from 2035 through 2036 , and the net operating loss carry-forward generated in 2018 will be carried forward indefinitely. 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 $59 million and $70 million at December 31, 2018 and 2017 , respectively. The state and local net operating loss carry-forwards expire from 2019 through 2038 . DTE Energy has recorded valuation allowances at December 31, 2018 and 2017 of approximately $33 million and $40 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 $250 million of general business credits that expire from 2035 through 2038 . 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 $11 million as of December 31, 2018 , 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 $1 million at December 31, 2018 , while there was $5 million state and local deferred tax asset related to net operating loss carry-forwards at December 31, 2017 . 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. Refer to Note 3 to the Consolidated Financial Statements, " New Accounting Pronouncements ," for a description of true-up adjustments to the remeasurement of deferred taxes recorded in 2018. Uncertain Tax Positions A reconciliation of the beginning and ending amount of unrecognized tax benefits for the Registrants is as follows: 2018 2017 2016 DTE Energy (In millions) Balance at January 1 $ 10 $ 10 $ 3 Additions for tax positions of prior years — — 7 Balance at December 31 $ 10 $ 10 $ 10 2018 2017 2016 DTE Electric (In millions) Balance at January 1 $ 13 $ 13 $ 4 Additions for tax positions of prior years — — 9 Balance at December 31 $ 13 $ 13 $ 13 DTE Energy had $8 million of unrecognized tax benefits at December 31, 2018 and 2017 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, 2018 and 2017 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 $4 million and $3 million at December 31, 2018 and 2017 , respectively. DTE Energy recognized interest expense related to income taxes of $1 million in 2018 , a nominal amount in 2017 , and $2 million in 2016 . DTE Energy had accrued no penalties pertaining to income taxes. Accrued interest pertaining to income taxes for DTE Electric totaled $5 million and $4 million at December 31, 2018 and 2017 , respectively. DTE Electric recognized interest expense related to income taxes of $1 million in 2018 , a nominal amount in 2017 , and $3 million in 2016 . DTE Electric had accrued no penalties pertaining to income taxes. In 2018 , DTE Energy, including DTE Electric, settled a federal tax audit for the 2016 tax year. DTE Energy's federal income tax returns for 2017 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, 2018 | |
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 : 2018 2017 2016 (In millions, except per share amounts) Basic Earnings per Share Net Income Attributable to DTE Energy Company $ 1,120 $ 1,134 $ 868 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — basic $ 1,118 $ 1,132 $ 866 Average number of common shares outstanding — basic 181 179 179 Basic Earnings per Common Share $ 6.18 $ 6.32 $ 4.84 Diluted Earnings per Share Net Income Attributable to DTE Energy Company $ 1,120 $ 1,134 $ 868 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — diluted $ 1,118 $ 1,132 $ 866 Average number of common shares outstanding — diluted 181 179 179 Diluted Earnings per Common Share (a) $ 6.17 $ 6.32 $ 4.83 _______________________________________ (a) The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6.3 million for the years ended December 31, 2018 and 2017 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, 2018 | |
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, 2018 and 2017 . 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 (a) : December 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Other (b) Netting (c) Net Balance Level 1 Level 2 Level 3 Other (b) Netting (c) Net Balance (In millions) Assets Cash equivalents (d) $ 16 $ 2 $ — $ — $ — $ 18 $ 16 $ 3 $ — $ — $ — $ 19 Nuclear decommissioning trusts Equity securities 851 — — — — 851 978 — — — — 978 Fixed income securities 12 490 — — — 502 18 477 — — — 495 Private equity and other — — — 20 — 20 — — — 5 — 5 Cash equivalents 5 — — — — 5 14 — — — — 14 Other investments (e) Equity securities 110 — — — — 110 118 — — — — 118 Fixed income securities 69 — — — — 69 72 — — — — 72 Cash equivalents 4 — — — — 4 4 — — — — 4 Derivative assets: Commodity Contracts: Natural Gas 199 87 63 — (277 ) 72 148 112 97 — (256 ) 101 Electricity — 247 56 — (252 ) 51 — 243 42 — (241 ) 44 Other — — 7 — (1 ) 6 — — 9 — — 9 Foreign currency exchange contracts — 4 — — — 4 — 1 — — (1 ) — Total derivative assets 199 338 126 — (530 ) 133 148 356 148 — (498 ) 154 Total $ 1,266 $ 830 $ 126 $ 20 $ (530 ) $ 1,712 $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 Liabilities Derivative liabilities: Commodity Contracts: Natural Gas $ (197 ) $ (71 ) $ (112 ) $ — $ 272 $ (108 ) $ (141 ) $ (111 ) $ (126 ) $ — $ 263 $ (115 ) Electricity — (227 ) (58 ) — 240 (45 ) — (245 ) (30 ) — 246 (29 ) Other — (1 ) — — 1 — — — (1 ) — 1 — Interest rate contracts — (3 ) — — — (3 ) — — — — — — Foreign currency exchange contracts — — — — — — — (3 ) — — 1 (2 ) Total derivative liabilities (197 ) (302 ) (170 ) — 513 (156 ) (141 ) (359 ) (157 ) — 511 (146 ) Total $ (197 ) $ (302 ) $ (170 ) $ — $ 513 $ (156 ) $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) Net Assets (Liabilities) at end of period $ 1,069 $ 528 $ (44 ) $ 20 $ (17 ) $ 1,556 $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 Assets Current $ 212 $ 273 $ 96 $ — $ (461 ) $ 120 $ 157 $ 298 $ 104 $ — $ (437 ) $ 122 Noncurrent 1,054 557 30 20 (69 ) 1,592 1,211 538 44 5 (61 ) 1,737 Total Assets $ 1,266 $ 830 $ 126 $ 20 $ (530 ) $ 1,712 $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 Liabilities Current $ (191 ) $ (251 ) $ (76 ) $ — $ 451 $ (67 ) $ (137 ) $ (313 ) $ (108 ) $ — $ 459 $ (99 ) Noncurrent (6 ) (51 ) (94 ) — 62 (89 ) (4 ) (46 ) (49 ) — 52 (47 ) Total Liabilities $ (197 ) $ (302 ) $ (170 ) $ — $ 513 $ (156 ) $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) Net Assets (Liabilities) at end of period $ 1,069 $ 528 $ (44 ) $ 20 $ (17 ) $ 1,556 $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 _______________________________________ (a) See footnotes on following page. _______________________________________ (b) Amounts represent assets valued at NAV as a practical expedient for fair value. (c) 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. (d) At December 31, 2018 , the $18 million consisted of $3 million , $5 million , and $10 million of cash equivalents included in Cash and Cash equivalents, Restricted cash, and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2017 , the $19 million consisted of $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. (e) 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, 2018 December 31, 2017 Level 1 Level 2 Level 3 Other (a) Net Balance Level 1 Level 2 Level 3 Other Net Balance (In millions) Assets Cash equivalents (b) $ 8 $ 2 $ — $ — $ 10 $ 8 $ 3 $ — $ — $ 11 Nuclear decommissioning trusts Equity securities 851 — — — 851 978 — — — 978 Fixed income securities 12 490 — — 502 18 477 — — 495 Private equity and other — — — 20 20 — — — 5 5 Cash equivalents 5 — — — 5 14 — — — 14 Other investments Equity securities 10 — — — 10 11 — — — 11 Derivative assets — FTRs — — 6 — 6 — — 9 — 9 Total $ 886 $ 492 $ 6 $ 20 $ 1,404 $ 1,029 $ 480 $ 9 $ 5 $ 1,523 Assets Current $ 8 $ 2 $ 6 $ — $ 16 $ 8 $ 3 $ 9 $ — $ 20 Noncurrent 878 490 — 20 1,388 1,021 477 — 5 1,503 Total Assets $ 886 $ 492 $ 6 $ 20 $ 1,404 $ 1,029 $ 480 $ 9 $ 5 $ 1,523 _______________________________________ (a) Amounts represent assets valued at NAV as a practical expedient for fair value. (b) At December 31, 2018 , the $10 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2017 , the $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 commingled funds. Other assets such as private equity investments are used to enhance long-term returns while improving portfolio diversification. All pricing for private equity 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. Commingled funds that 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. 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: Year Ended December 31, 2018 Year Ended December 31, 2017 Natural Gas Electricity Other Total Natural Gas Electricity Other Total (In millions) Net Assets (Liabilities) as of January 1 $ (29 ) $ 12 $ 8 $ (9 ) $ (96 ) $ 9 $ (1 ) $ (88 ) Transfers into Level 3 from Level 2 — — — — — — — — Transfers from Level 3 into Level 2 (3 ) — — (3 ) — — — — Total gains (losses) Included in earnings (146 ) 29 1 (116 ) (29 ) 109 2 82 Recorded in Regulatory liabilities — — 9 9 — — 25 25 Purchases, issuances, and settlements: Purchases — — — — — — — — Issuances — — — — — — — — Settlements 129 (43 ) (11 ) 75 96 (106 ) (18 ) (28 ) Net Assets (Liabilities) as of December 31 $ (49 ) $ (2 ) $ 7 $ (44 ) $ (29 ) $ 12 $ 8 $ (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, 2018 and 2017 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations $ (119 ) $ 15 $ (16 ) $ (120 ) $ (30 ) $ 50 $ 1 $ 21 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: Year Ended December 31, 2018 2017 (In millions) Net Assets as of January 1 $ 9 $ 2 Change in fair value recorded in Regulatory liabilities 9 25 Purchases, issuances, and settlements: Settlements (12 ) (18 ) Net Assets as of December 31 $ 6 $ 9 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, 2018 and 2017 and reflected in DTE Electric's Consolidated Statements of Financial Position $ 6 $ 9 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, 2018 and 2017 , 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: December 31, 2018 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 63 $ (112 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (2.15 ) — $ 5.59 /MMBtu $ (0.1 )/MMBtu Electricity $ 56 $ (58 ) Discounted Cash Flow Forward basis price (per MWh) $ (7 ) — $ 9 /MWh $ 1 /MWh 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 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 following table presents the carrying amount and fair value of financial instruments for DTE Energy: December 31, 2018 December 31, 2017 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 $ 40 $ — $ — $ 40 $ 38 $ — $ — $ 38 Dividends payable $ 172 $ 172 $ — $ — $ 158 $ 158 $ — $ — Short-term borrowings $ 609 $ — $ 609 $ — $ 621 $ — $ 621 $ — Notes payable — Other (b) , excluding capital leases $ 41 $ — $ — $ 41 $ 12 $ — $ — $ 12 Long-term debt (c) $ 13,622 $ 1,796 $ 10,712 $ 1,317 $ 12,288 $ 1,939 $ 10,571 $ 764 _______________________________________ (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, and issuance costs. Excludes Capital lease obligations. The following table presents the carrying amount and fair value of financial instruments for DTE Electric: December 31, 2018 December 31, 2017 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (In millions) Notes receivable, excluding capital leases $ 6 $ — $ — $ 6 $ — $ — $ — $ — Short-term borrowings — affiliates $ 101 $ — $ 101 $ 116 $ — $ — $ 116 Short-term borrowings — other $ 149 $ — $ 149 $ — 238 $ — $ 238 $ — Notes payable — Other (a) , excluding capital leases $ 21 $ — $ — $ 21 $ 2 $ — $ — $ 2 Long-term debt (b) $ 6,538 $ — $ 6,552 $ 161 $ 6,017 $ — $ 6,441 $ 171 _______________________________________ (a) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position. (b) 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, 2018 2017 (In millions) Fermi 2 $ 1,372 $ 1,475 Fermi 1 3 3 Low-level radioactive waste 3 14 $ 1,378 $ 1,492 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, 2018 2017 2016 (In millions) Realized gains $ 65 $ 83 $ 74 Realized losses $ (42 ) $ (29 ) $ (63 ) Proceeds from sale of securities $ 1,203 $ 1,240 $ 1,457 Realized gains and losses from the sale of securities and unrealized gains and losses incurred by the Fermi 2 trust are recorded to the Regulatory asset and Nuclear decommissioning liability. Realized gains and losses from the sale of securities and unrealized gains and losses on the low-level radioactive waste funds are recorded to the Nuclear decommissioning liability. The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds: December 31, 2018 December 31, 2017 Fair Unrealized Unrealized Losses Fair Unrealized Unrealized Losses (In millions) Equity securities $ 851 $ 235 $ (79 ) $ 978 $ 320 $ (32 ) Fixed income securities 502 7 (8 ) 495 13 (3 ) Private equity and other 20 — — 5 — — Cash equivalents 5 — — 14 — — $ 1,378 $ 242 $ (87 ) $ 1,492 $ 333 $ (35 ) The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity: December 31, 2018 (In millions) Due within one year $ 29 Due after one through five years 89 Due after five through ten years 113 Due after ten years 271 $ 502 Other Securities At December 31, 2018 and 2017 , the Registrants' securities, included in Other investments on the Consolidated Statements of Financial Position, were comprised primarily of money market and equity securities. Net losses related to equity securities held at December 31, 2018 were $11 million and net gains related to equity securities held at December 31, 2017 and 2016 were $26 million , and $15 million , respectively, for the Registrants. Gains or losses related to the Rabbi Trust assets are allocated from DTE Energy to DTE Electric. |
Financial and Other Derivative
Financial and Other Derivative Instruments | 12 Months Ended |
Dec. 31, 2018 | |
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 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 2021. 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, renewable 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, 2018 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements. Derivative Activities DTE Energy manages its MTM risk on a portfolio basis based upon the delivery period of its contracts and the individual components of the risks within each contract. Accordingly, it records and manages the energy purchase and sale obligations under its contracts in separate components based on the commodity (e.g. electricity or natural gas), the product (e.g. electricity for delivery during peak or off-peak hours), the delivery location (e.g. by region), the risk profile (e.g. forward or option), and the delivery period (e.g. by month and year). The following describes the categories of activities represented by their operating characteristics and key risks: • Asset Optimization — Represents derivative activity associated with assets owned and contracted by DTE Energy, including forward natural gas purchases and sales, natural gas transportation, and storage capacity. Changes in the value of derivatives in this category typically economically offset changes in the value of underlying non-derivative positions, which do not qualify for fair value accounting. The difference in accounting treatment of derivatives in this category and the underlying non-derivative positions can result in significant earnings volatility. • Marketing and Origination — Represents derivative activity transacted by originating substantially hedged positions with wholesale energy marketers, producers, end-users, utilities, retail aggregators, and alternative energy suppliers. • Fundamentals Based Trading — Represents derivative activity transacted with the intent of taking a view, capturing market price changes, or putting capital at risk. This activity is speculative in nature as opposed to hedging an existing exposure. • Other — Includes derivative activity at DTE Electric related to FTRs. Changes in the value of derivative contracts at DTE Electric are recorded as Derivative assets or liabilities, with an offset to Regulatory assets or liabilities as the settlement value of these contracts will be included in the PSCR mechanism when realized. The following table presents the fair value of derivative instruments for DTE Energy: December 31, 2018 December 31, 2017 Derivative Derivative Derivative Derivative (In millions) Derivatives designated as hedging instruments Interest rate contracts $ — $ (3 ) $ — $ — Derivatives not designated as hedging instruments Commodity contracts Natural gas $ 349 $ (380 ) $ 357 $ (378 ) Electricity 303 (285 ) 285 (275 ) Other 7 (1 ) 9 (1 ) Foreign currency exchange contracts 4 — 1 (3 ) Total derivatives not designated as hedging instruments $ 663 $ (666 ) $ 652 $ (657 ) Current $ 563 $ (518 ) $ 540 $ (558 ) Noncurrent 100 (151 ) 112 (99 ) Total derivatives $ 663 $ (669 ) $ 652 $ (657 ) The following table presents the fair value of derivative instruments for DTE Electric: December 31, 2018 2017 (In millions) FTRs — Other current assets $ 6 $ 9 Total derivatives not designated as hedging instruments $ 6 $ 9 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 outstanding at December 31, 2018 and 2017 , 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 $8 million and $4 million at December 31, 2018 and 2017 , 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 received, net of cash collateral posted, was $13 million as of December 31, 2018 . DTE Energy had $28 million total cash collateral posted, net of cash collateral received, as of December 31, 2017 . DTE Energy had $17 million of cash collateral related to unrealized positions to net against Derivative assets and no cash collateral related to unrealized positions to net against Derivative liabilities as of December 31, 2018 . 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 recorded cash collateral paid of $10 million and cash collateral received of $6 million not related to unrealized derivative positions as of December 31, 2018 . 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 . 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: December 31, 2018 December 31, 2017 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 $ 349 $ (277 ) $ 72 $ 357 $ (256 ) $ 101 Electricity 303 (252 ) 51 285 (241 ) 44 Other 7 (1 ) 6 9 — 9 Foreign currency exchange contracts 4 — 4 1 (1 ) — Total derivative assets $ 663 $ (530 ) $ 133 $ 652 $ (498 ) $ 154 Derivative liabilities Commodity contracts Natural gas $ (380 ) $ 272 $ (108 ) $ (378 ) $ 263 $ (115 ) Electricity (285 ) 240 (45 ) (275 ) 246 (29 ) Other (1 ) 1 — (1 ) 1 — Interest rate contracts (3 ) — (3 ) — — — Foreign currency exchange contracts — — — (3 ) 1 (2 ) Total derivative liabilities $ (669 ) $ 513 $ (156 ) $ (657 ) $ 511 $ (146 ) 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: December 31, 2018 December 31, 2017 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Current Noncurrent Current Noncurrent Current Noncurrent Current Noncurrent (In millions) Total fair value of derivatives $ 563 $ 100 $ (518 ) $ (151 ) $ 540 $ 112 $ (558 ) $ (99 ) Counterparty netting (451 ) (62 ) 451 62 (437 ) (52 ) 437 52 Collateral adjustment (10 ) (7 ) — — — (9 ) 22 — Total derivatives as reported $ 102 $ 31 $ (67 ) $ (89 ) $ 103 $ 51 $ (99 ) $ (47 ) The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows: Location of Gain (Loss) Recognized in Income on Derivatives Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, 2018 2017 2016 (In millions) Derivatives not Designated as Hedging Instruments Commodity contracts Natural gas Operating Revenues — Non-utility operations $ (42 ) $ (74 ) $ (153 ) Natural gas Fuel, purchased power, and gas — non-utility (94 ) 97 (2 ) Electricity Operating Revenues — Non-utility operations 49 105 43 Other Operating Revenues — Non-utility operations (1 ) 2 5 Foreign currency exchange contracts Operating Revenues — Non-utility operations 7 (2 ) (2 ) Total $ (81 ) $ 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, 2018 : Commodity Number of Units Natural Gas (MMBtu) 2,171,541,994 Electricity (MWh) 36,163,761 Foreign Currency Exchange (Canadian dollars) 101,975,644 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, 2018 , 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 $638 million . As of December 31, 2018 , DTE Energy had $541 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 $495 million . The net remaining amount of $46 million is derived from the $638 million noted above. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2018 | |
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 2018 2017 (In millions) Mortgage bonds, notes, and other DTE Energy Debt, Unsecured 3.2% 2019 — 2033 $ 4,425 $ 3,825 DTE Electric Taxable Debt, Principally Secured 4.3% 2020 — 2048 6,280 5,755 DTE Electric Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 DTE Gas Taxable Debt, Principally Secured 4.5% 2019 — 2048 1,550 1,330 Other Long-Term Debt, including Non-Recourse Debt 1 7 12,566 11,227 Unamortized debt discount and premium, net (16 ) (15 ) Unamortized debt issuance costs (73 ) (69 ) Long-term debt due within one year (1,495 ) (104 ) $ 10,982 $ 11,039 Junior Subordinated Debentures Subordinated Debentures 5.5% 2062 — 2077 $ 1,180 $ 1,180 Unamortized debt issuance costs (35 ) (35 ) $ 1,145 $ 1,145 _______________________________________ (a) Weighted average interest rate as of December 31, 2018 . (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 2018 2017 (In millions) Mortgage bonds, notes, and other Taxable Debt, Principally Secured 4.3% 2020 — 2048 $ 6,280 $ 5,755 Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 6,590 6,065 Unamortized debt discount (11 ) (10 ) Unamortized debt issuance costs (41 ) (38 ) $ 6,538 $ 6,017 _______________________________________ (a) Weighted average interest rate as of December 31, 2018 . (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 2018 , the following debt was issued: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Electric May Mortgage Bonds (a) 4.05% 2048 $ 525 DTE Energy August Senior Notes (b) 3.70% 2023 600 DTE Gas August Mortgage Bonds (b) 3.81% 2028 195 DTE Gas August Mortgage Bonds (b) 4.14% 2048 125 $ 1,445 _______________________________________ (a) Bonds were issued as Green Bonds and the proceeds will be used to finance expenditures for solar and wind energy, payments under power purchase agreements for solar and wind energy, and energy optimization programs. (b) Proceeds were used for the repayment of short-term borrowings and general corporate purposes. Debt Redemptions In 2018 , the following debt was redeemed: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Gas April Senior Notes 6.04% 2018 $ 100 DTE Energy Various Other Long-Term Debt Various 2018 5 $ 105 The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount or premium on debt: 2019 2020 2021 2022 2023 2024 and Thereafter Total (In millions) DTE Energy (a) $ 1,495 $ 682 $ 462 $ 616 $ 1,177 $ 9,314 $ 13,746 DTE Electric $ — $ 632 $ 462 $ 316 $ 202 $ 4,978 $ 6,590 _______________________________________ (a) Amounts include DTE Electric's scheduled debt maturities. Junior Subordinated Debentures At December 31, 2018 , 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, 2018 , 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. 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. The acquisition was financed through the issuance of Equity Units and Senior Notes. 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, 2018 , 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 $33 million and $32 million were made in 2018 and 2017, respectively. The stock purchase contract liability, exclusive of interest, was $33 million and $66 million at December 31, 2018 and 2017 , respectively. |
Preferred and Preference Securi
Preferred and Preference Securities | 12 Months Ended |
Dec. 31, 2018 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Preferred and Preference Securities | PREFERRED AND PREFERENCE SECURITIES As of December 31, 2018 , 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, 2018 | |
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, 2018 , the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.55 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, 2018 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, 2018 Commercial paper issuances 271 149 189 609 Letters of credit 168 — — 168 439 149 189 777 Net availability at December 31, 2018 $ 981 $ 251 $ 111 $ 1,343 DTE Energy has $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 2.9% and 1.9% at December 31, 2018 and 2017 , respectively, for DTE Energy. The weighted average interest rate for short-term borrowings was 2.9% and 1.5% at December 31, 2018 and 2017 , 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, 2018 , the capacity under this facility was $125 million . The amount outstanding under this agreement was $93 million and $56 million at December 31, 2018 and 2017 , 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, 2018 , the effect of this provision was to restrict the payment of approximately $2.4 billion of Retained earnings totaling $6.1 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, 2018 | |
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 2051 and 2046 for DTE Energy and DTE Electric, respectively. The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2018 were: DTE Energy DTE Electric (In millions) 2019 $ 42 $ 17 2020 30 12 2021 18 10 2022 11 7 2023 8 5 2024 and thereafter 45 29 Total minimum lease payments $ 154 $ 80 Rental expense for DTE Energy operating leases was $44 million in 2018 , $51 million in 2017 , and $43 million in 2016 , including rental expense for DTE Electric operating leases of $18 million in 2018 and $28 million in 2017 and 2016 . Lessor Operating Lease — DTE Energy leases various assets under operating leases for energy facilities and related equipment. DTE Energy's minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were: DTE Energy (In millions) 2019 $ 66 2020 66 2021 64 2022 20 2023 20 2024 and thereafter 196 Total minimum future rental revenue under non-cancelable operating leases $ 432 The amounts listed above do not include contingent rentals associated with the leased assets. DTE Energy had contingent rental revenues of $107 million , $91 million , and $101 million in 2018 , 2017 , and 2016 , respectively. 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 expire in 2019 and 2026. The components of DTE Energy's net investment in capital leases at December 31, 2018 , were as follows: DTE Energy (In millions) 2019 $ 10 2020 9 2021 — 2022 — 2023 — 2024 and thereafter 1 Total minimum future lease receipts 20 Residual value of leased pipeline 40 Less unearned income (9 ) Net investment in capital lease 51 Less current portion (5 ) $ 46 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
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 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. On April 30, 2018, the EPA finalized the state of Michigan's recommended non-attainment designation for southeast Michigan. The State is required to develop and implement a plan to address the southeast Michigan ozone non-attainment area by 2021. DTE Electric cannot predict the financial impact of the State's plan to address the ozone non-attainment area 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 and on June 14, 2018 the case was stayed pending settlement negotiations. The proceedings at the District Court remain stayed while the parties discuss potential resolution of the 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, in 2015 the EPA finalized performance standards for emissions of carbon dioxide from new and existing fossil-fuel fired EGUs. 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. 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 in August 2018, the EPA proposed revised emission guidelines for GHGs from existing electric utility generating units. This proposed rule, named the Affordable Clean Energy (ACE) rule, is intended to replace the Clean Power Plan rule. In addition, in December 2018, the EPA issued proposed revisions to the carbon dioxide performance standards for new, modified, or reconstructed fossil-fuel fired 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. These proposed rules do not impact DTE Energy's goal to reduce carbon emissions 30% by the early 2020s, 45% by 2030, 75% by 2040, and more than 80% by 2050. 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 2018 . DTE Electric does not anticipate additional capital expenditures through 2025 . 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 2014. 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, 2018 and 2017 , DTE Electric had $7 million and $6 million , respectively, accrued for remediation. 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 and July 2018. Additionally, a D.C. District Court Decision on August 21, 2018 (effective October 12, 2018) may affect the timing of closure of coal ash impoundments that are not lined with an engineered liner system. In 2019, the EPA is expected to affirmatively undertake rulemaking to implement the D.C. District Court's decision that will determine any changes to DTE Electric's plans in the operation and closure of coal ash impoundments. At the State level, legislation was signed by the Governor in December 2018. The bill provides for a CCR program to be regulated in Michigan once approval is requested and received from the EPA. 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. Under the current CCR rules and uncertainty regarding the D.C. District Court decision, capital costs and timing associated with the building of new CCR facilities or retirement of existing CCR facilities are being evaluated. In November 2015, the EPA finalized the ELG Rule for the steam electric power generating industry which requires additional controls to be installed between 2018 and 2023. Compliance schedules for individual facilities and individual waste streams are determined through issuance of new National Pollutant Discharge Elimination System (NPDES) permits by the State of Michigan. The State of Michigan has issued a NPDES permit for the Belle River Power Plant establishing a compliance deadline of December 31, 2021. No new permits that would require ELG compliance have been issued for other facilities, consequently no compliance timelines have been established. 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. The final rule nullified the administrative stay but also extended the earliest compliance deadlines for the FGD wastewater and bottom ash transport water until November 1, 2020 in order for the EPA to propose and finalize a new ruling. The ELG compliance requirements and final deadlines for bottom ash transport water and FGD wastewater, and total ELG related compliance costs will not be known until the EPA completes its reconsideration of the ELG Rule. Over the next six years , to comply with the November 2015 ELG requirements and CCR requirements, costs associated with the building of new facilities or installation of controls are estimated to be approximately $565 million . 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, 2018 and 2017 , DTE Gas had $25 million and $41 million , respectively, accrued for remediation. 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 plan (SIP) submittal and EPA approval describing the control strategy and timeline for demonstrating compliance with the new SO 2 standard is the next step in the process and is expected to be completed by the end of 2019. 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. 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, 2018 was approximately $400 million . Payment under these guarantees are 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, 2018 was $359 million . Payments under these guarantees are 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 $242 million and $377 million at December 31, 2018 , respectively; each representing 50% of all payment obligations due and payable by NEXUS. 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. In October 2018, NEXUS Pipeline was placed in service. The amount of each guarantee decreases annually as payments are made by NEXUS to each of the aforementioned counterparties. NEXUS also entered into certain 15 -year capacity lease agreements for the transportation of natural gas with Vector, an equity method investee of DTE Energy. Pursuant to the terms of those agreements, in October 2018, DTE Energy executed a guarantee agreement with Vector, with a maximum potential payment totaling $7 million at December 31, 2018, representing 50% of the first-year payment obligations due and payable by NEXUS. The guarantee terminates at the earlier of (i) such time as all of the guaranteed obligations have been fully performed or (ii) 15 years from the date DTE Energy entered into the guarantee. Should NEXUS fail to perform under the terms of these agreements, DTE Energy is required to perform on its behalf. 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 $64 million at December 31, 2018 . Payments under these guarantees are 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, 2018 , DTE Energy had $76 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 5,200 represented employees, including DTE Electric's approximate 2,800 represented employees. The majority of the represented employees are under contracts that expire in 2020 and 2021 . Purchase Commitments As of December 31, 2018 , 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 2019 through 2051 for DTE Energy, and 2019 through 2039 for DTE Electric, as detailed in the following table: DTE Energy DTE Electric (In millions) 2019 $ 2,691 $ 777 2020 1,311 541 2021 632 171 2022 409 88 2023 351 85 2024 and thereafter 1,953 737 $ 7,347 $ 2,399 Utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees will be approximately $3.9 billion and $2.2 billion in 2019 for DTE Energy and DTE Electric, respectively. The Registrants have made certain commitments in connection with the estimated 2019 annual capital expenditures and contributions to equity method investees. Bankruptcies DTE Energy's Power and Industrial Projects segment holds ownership interests in, and operates, five generating plants that sell electric output from renewable sources under long-term power purchase agreements with PG&E. PG&E filed for Chapter 11 bankruptcy protection on January 29, 2019. As of December 31, 2018, uncollected pre-petition accounts receivable from PG&E were approximately $12 million . Currently, PG&E has been paying amounts owed in a timely manner and its account is current. As of December 31, 2018, DTE Energy has not recorded a reserve related to the pre-petition receivables. As of December 31, 2018, the book value of long-lived assets used in producing electric output for sale to PG&E was approximately $106 million . As of December 31, 2018, DTE Energy performed an impairment analysis on its long-lived assets in accordance with ASC 360, Property, Plant and Equipment . Based on its undiscounted cash flow projections, DTE Energy determined that it did not have an impairment loss as of December 31, 2018. DTE Energy’s assumptions and conclusions may change, and it could have impairment losses if any of the terms of the contracts are not honored by PG&E or the contracts are rejected through the bankruptcy process. The Power and Industrial Projects segment also has equity investments, including a note receivable, of approximately $77 million in entities that sell power to PG&E. DTE Energy has determined that it does not have an other than temporary decline in its equity investments as described in ASC 323, Investments-Equity Method and Joint Ventures . DTE Energy’s assumptions and conclusions may change in the future, and it could have an impairment loss if certain facilities are not utilized as currently anticipated or the contracts are rejected through the bankruptcy process. 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, 2018 | |
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 $2.0 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 $41 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 $138 million could be levied against each licensed nuclear facility, but not more than $20 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, 2018 | |
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 certain employees of the Registrants. The table below represents the pension and other postretirement benefit plans of each Registrant at December 31, 2018 : 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. As a result of multiemployer accounting treatment, capitalized costs associated with these plans are reflected in Property, plant, and equipment in DTE Electric's Consolidated Statements of Financial Position. The same capitalized costs are reflected as Regulatory assets and liabilities in DTE Energy's Consolidated Statements of Financial Position. In addition, the service cost and non-service cost components are presented in Operation and maintenance in DTE Electric's Consolidated Statements of Operations. The same non-service cost components are presented in Other (Income) and Deductions — Non-operating retirement benefits, net in DTE Energy's Consolidated Statements of Operations. Plan participants of all plans are solely DTE Energy and affiliate participants. 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 certain 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: 2018 2017 2016 (In millions) Service cost $ 99 $ 92 $ 92 Interest cost 202 214 219 Expected return on plan assets (329 ) (311 ) (309 ) Amortization of: Net actuarial loss 176 176 164 Prior service cost — 1 1 Net pension cost $ 148 $ 172 $ 167 2018 2017 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial loss $ 125 $ 27 Amortization of net actuarial loss (176 ) (176 ) Prior service credit — (11 ) Amortization of prior service cost — (1 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (51 ) $ (161 ) Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 97 $ 11 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 $ 131 $ 178 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 2018 2017 (In millions) Accumulated benefit obligation, end of year $ 4,779 $ 5,149 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 5,576 $ 5,171 Service cost 99 92 Interest cost 202 214 Plan amendments — (11 ) Actuarial (gain) loss (438 ) 391 Benefits paid (315 ) (281 ) Projected benefit obligation, end of year $ 5,124 $ 5,576 Change in plan assets Plan assets at fair value, beginning of year $ 4,636 $ 4,012 Actual return on plan assets (233 ) 674 Company contributions 185 231 Benefits paid (315 ) (281 ) Plan assets at fair value, end of year $ 4,273 $ 4,636 Funded status $ (851 ) $ (940 ) Amount recorded as: Current liabilities $ (14 ) $ (16 ) Noncurrent liabilities (837 ) (924 ) $ (851 ) $ (940 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 152 $ 163 Prior service cost 5 6 $ 157 $ 169 Amounts recognized in Regulatory assets (a) Net actuarial loss $ 1,973 $ 2,014 Prior service credit (12 ) (14 ) $ 1,961 $ 2,000 ______________________________________ (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 contributions to the qualified pension plans in: 2018 2017 2016 (In millions) DTE Energy $ 175 $ 223 $ 179 DTE Electric 175 185 145 During 2018, DTE Energy contributed the following amounts of DTE Energy common stock to the DTE Energy Company Affiliates Employee Benefit Plans Master Trust: Date Number of Shares Price per Share Amount (In millions) March 7, 2018 1,751,401 $99.92 $ 175 The above contribution was made on behalf of DTE Electric, for which DTE Electric paid DTE Energy cash consideration of $175 million in March 2018. At the discretion of management, and depending upon financial market conditions, DTE Energy anticipates making up to $150 million in contributions, including $100 million of DTE Electric contributions, to the qualified pension plans in 2019 . 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 $120 million for the year ended December 31, 2018 and $136 million for the years ended December 31, 2017 and 2016 . These amounts include recognized contractual termination benefit charges, curtailment gains, and settlement charges. At December 31, 2018 , 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) 2019 $ 311 2020 317 2021 317 2022 323 2023 332 2024-2028 1,713 Total $ 3,313 Assumptions used in determining the projected benefit obligation and net pension costs of DTE Energy are: 2018 2017 2016 Projected benefit obligation Discount rate 4.40% 3.70% 4.25% Rate of compensation increase 4.98% 4.98% 4.65% Net pension costs Discount rate 3.70% 4.25% 4.50% Rate of compensation increase 4.98% 4.65% 4.65% Expected long-term rate of return on plan assets 7.50% 7.50% 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 7.30% and other postretirement benefit plans of 7.75% for 2019 . The Registrants believe these rates are a reasonable assumption for the long-term rate of return on plan assets for 2019 given the current investment strategy. The DTE Energy Company Affiliates Employee Benefit Plans Master Trust employs a liability driven investment program whereby the characteristics of plan liabilities are considered when determining investment policy. 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 and large and small market capitalizations. Fixed income investments generally include U.S. Treasuries, other governmental debt, diversified corporate bonds, bank loans, and mortgage-backed securities. Other investments 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, 2018 are listed below: U.S. Large Capitalization (Cap) Equity Securities 16 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 15 Fixed Income Securities 42 Hedge Funds and Similar Investments 15 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, 2018 and 2017 (a) : December 31, 2018 December 31, 2017 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total (In millions) DTE Energy asset category: Short-term Investments (c) $ — $ 27 $ — $ 27 $ — $ 114 $ — $ 114 Equity Securities U.S. Large Cap (d) 606 3 — 609 821 5 — 826 U.S. Small Cap and Mid Cap (e) 123 1 — 124 229 5 — 234 Non-U.S. (f) 337 9 240 586 529 13 280 822 Fixed Income Securities (g) 6 1,892 — 1,898 1 1,453 — 1,454 Hedge Funds and Similar Investments (h) 88 — 542 630 265 — 593 858 Private Equity and Other (i) — — 399 399 — — 328 328 Securities Lending (j) (22 ) (8 ) — (30 ) (53 ) (13 ) — (66 ) Securities Lending Collateral (j) 22 8 — 30 53 13 — 66 DTE Energy Total $ 1,160 $ 1,932 $ 1,181 $ 4,273 $ 1,845 $ 1,590 $ 1,201 $ 4,636 _______________________________________ (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 quoted 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 quoted 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 quoted 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, other governmental debt, 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. (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 real estate and private 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 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 pension trust holds debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The commingled 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. There were no significant transfers between Level 2 and Level 1 in the years ended December 31, 2018 and 2017 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. DTE Energy did not make any contributions to these trusts during 2018 and does not anticipate making any contributions to the trusts in 2019 . 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 $11 million in 2018 , $8 million in 2017 , and $6 million in 2016 , including DTE Electric contributions of $5 million in 2018 , 2017 , and 2016 . The Registrants also contribute a fixed amount to a Retiree Reimbursement Account, for certain 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: 2018 2017 2016 (In millions) Service cost $ 27 $ 27 $ 27 Interest cost 69 73 80 Expected return on plan assets (143 ) (130 ) (129 ) Amortization of: Net actuarial loss 11 13 30 Prior service credit — (14 ) (118 ) Other — — (1 ) Net other postretirement credit $ (36 ) $ (31 ) $ (111 ) 2018 2017 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial gain $ (8 ) $ (21 ) Amortization of net actuarial loss (11 ) (13 ) Prior service credit (44 ) (1 ) Amortization of prior service credit — 14 Total recognized in Regulatory assets and Other comprehensive income (loss) $ (63 ) $ (21 ) Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (99 ) $ (52 ) 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 $ 12 $ 11 Prior service credit $ (9 ) $ (1 ) Net other postretirement credit for DTE Electric includes the following components: 2018 2017 2016 (In millions) Service cost $ 20 $ 20 $ 20 Interest cost 53 56 61 Expected return on plan assets (98 ) (90 ) (90 ) Amortization of: Net actuarial loss 8 8 21 Prior service credit — (10 ) (89 ) Net other postretirement credit $ (17 ) $ (16 ) $ (77 ) 2018 2017 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets Net actuarial (gai n) loss $ (46 ) $ 2 Amortization of net actuarial loss (8 ) (8 ) Amortization of prior service (cost) credit (35 ) 10 Total recognized in Regulatory assets $ (89 ) $ 4 Total recognized in net periodic benefit cost and Regulatory assets $ (106 ) $ (12 ) Estimated amounts to be amortized from Regulatory assets into net periodic benefit cost during next fiscal year Net actuarial loss $ 5 $ 8 Prior service credit $ (7 ) $ — 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 2018 2017 2018 2017 (In millions) Change in accumulated postretirement benefit obligation Accumulated postretirement benefit obligation, beginning of year $ 1,910 $ 1,795 $ 1,470 $ 1,373 Service cost 27 27 20 20 Interest cost 69 73 53 56 Plan amendments (44 ) — (35 ) — Actuarial (gai n) loss (227 ) 101 (196 ) 84 Benefits paid (90 ) (86 ) (65 ) (63 ) Accumulated postretirement benefit obligation, end of year $ 1,645 $ 1,910 $ 1,247 $ 1,470 Change in plan assets Plan assets at fair value, beginning of year $ 1,848 $ 1,758 $ 1,272 $ 1,218 Actual return on plan assets (75 ) 252 (52 ) 172 Benefits paid (84 ) (162 ) (62 ) (118 ) Plan assets at fair value, end of year $ 1,689 $ 1,848 $ 1,158 $ 1,272 Funded status $ 44 $ (62 ) $ (89 ) $ (198 ) Amount recorded as: Noncurrent assets $ 45 $ — $ 189 $ 113 Current liabilities (1 ) (1 ) — — Noncurrent liabilities — (61 ) (278 ) (311 ) $ 44 $ (62 ) $ (89 ) $ (198 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial (gain) loss $ 1 $ (1 ) $ — $ — $ 1 $ (1 ) $ — $ — Amounts recognized in Regulatory assets (a) Net actuarial loss $ 257 $ 279 $ 156 $ 211 Prior service credit (44 ) (1 ) (35 ) — $ 213 $ 278 $ 121 $ 211 ______________________________________ (a) See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." At December 31, 2018 , 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) 2019 $ 88 $ 66 2020 92 70 2021 96 73 2022 100 75 2023 102 77 2024-2028 532 402 Total $ 1,010 $ 763 Assumptions used in determining the accumulated postretirement benefit obligation and net other postretirement benefit costs of the Registrants are: 2018 2017 2016 Accumulated postretirement benefit obligation Discount rate 4.40% 3.70% 4.25% Health care trend rate pre- and post- 65 6.75 / 7.25% 6.75 / 7.25% 6.50 / 6.75% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2031 2030 2028 Other postretirement benefit costs Discount rate 3.70% 4.25% 4.50% Expected long-term rate of return on plan assets 7.75% 7.75% 8.00% 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 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 $4 million , including $3 million for DTE Electric, in 2018 and would have increased the accumulated benefit obligation for DTE Energy by $72 million , including $51 million for DTE Electric, at December 31, 2018 . 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 2018 and would have decreased the accumulated benefit obligation for DTE Energy by $63 million , including $45 million for DTE Electric, at December 31, 2018 . The process used in determining the long-term rate of return on assets for the other postretirement benefit plans is similar to that previously described for the pension plans. The DTE Energy Master VEBA Trust employs a total return investment approach. 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 and large and small market capitalizations. Fixed income investments generally include U.S. Treasuries, other governmental debt, diversified corporate bonds, bank loans, and mortgage-backed securities. Other investments 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 the Registrants' other postretirement benefit plan assets as of December 31, 2018 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 19 Fixed Income Securities 28 Hedge Funds and Similar Investments 19 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, 2018 and 2017 (a) : December 31, 2018 December 31, 2017 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total DTE Energy asset category: (In millions) Short-term Investments (c) $ 14 $ 2 $ — $ 16 $ 13 $ 2 $ — $ 15 Equity Securities U.S. Large Cap (d) 225 — — 225 284 — — 284 U.S. Small Cap and Mid Cap (e) 75 — — 75 131 — — 131 Non-U.S. (f) 234 — 67 301 288 1 77 366 Fixed Income Securities (g) 11 350 130 491 29 324 130 483 Hedge Funds and Similar Investments (h) 97 — 203 300 116 — 219 335 Private Equity and Other (i) — — 281 281 — — 234 234 Securities Lending (j) (21 ) (1 ) — (22 ) (39 ) (1 ) — (40 ) Securities Lending Collateral (j) 21 1 — 22 39 1 — 40 DTE Energy Total $ 656 $ 352 $ 681 $ 1,689 $ 861 $ 327 $ 660 $ 1,848 DTE Electric asset category: Short-term Investments (c) $ 10 $ 1 $ — $ 11 $ 9 $ 1 $ — $ 10 Equity Securities U.S. Large Cap (d) 154 — — 154 195 — — 195 U.S. Small Cap and Mid Cap (e) 52 — — 52 91 — — 91 Non-U.S. (f) 163 — 45 208 200 1 52 253 Fixed Income Securities (g) 7 232 92 331 20 218 92 330 Hedge Funds and Similar Investments (h) 68 — 139 207 80 — 150 230 Private Equity and Other (i) — — 195 195 — — 163 163 Securities Lending (j) (15 ) — — (15 ) (27 ) (1 ) — (28 ) Securities Lending Collateral (j) 15 — — 15 27 1 — 28 DTE Electric Total $ 454 $ 233 $ 471 $ 1,158 $ 595 $ 220 $ 457 $ 1,272 _______________________________________ (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 quoted 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 quoted 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 quoted 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, other governmental debt, 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 real estate and private 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. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The commingled 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. There were no significant transfers between Level 2 and Level 1 in the years ended December 31, 2018 and 2017 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 $61 million , $57 million , and $51 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. For DTE Electric, the cost of these plans was $29 million , $27 million , and $23 million for the years ended December 31, 2018 , 2017 , and 2016 . |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
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 16,500,000 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: 2018 2017 2016 (In millions) Stock-based compensation expense $ 64 $ 58 $ 61 Tax benefit $ 13 $ 23 $ 24 Stock-based compensation cost capitalized in Property, plant, and equipment $ 11 $ 9 $ 10 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, 2018 : Number of Options Weighted Average Exercise Price Aggregate Intrinsic Options outstanding and exercisable at December 31, 2017 105,994 $ 42.95 Exercised (53,894 ) $ 42.62 Options outstanding and exercisable at December 31, 2018 52,100 $ 43.30 $ 4 As of December 31, 2018 , the weighted average remaining contractual life for the exercisable shares is 1.11 years. As of December 31, 2018 , all options were vested. No options vested during 2018 . There were no options granted during 2018 , 2017 , or 2016 . The intrinsic value of options exercised for the years ended December 31, 2018 was $4 million . The intrinsic value of options for the years ended December 31, 2017 and 2016 was $4 million . No option expense was recognized for 2018 , 2017 , or 2016 . The number, weighted average exercise price, and weighted average remaining contractual life of DTE Energy options outstanding as of December 31, 2018 were as follows: Range of Exercise Prices Number of Options Weighted Average Weighted Average $ 27.00 — $ 38.00 2,100 $ 27.70 0.16 $ 42.01 — $ 45.00 50,000 $ 43.95 1.15 52,100 $ 43.30 1.11 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: 2018 2017 2016 Fair value of awards vested (in millions) $ 11 $ 10 $ 9 Restricted common shares awarded 109,393 136,825 145,240 Weighted average market price of shares awarded $ 105.80 $ 99.53 $ 87.28 Compensation cost charged against income (in millions) $ 11 $ 11 $ 11 The following table summarizes DTE Energy’s restricted stock awards activity for the year ended December 31, 2018 : Restricted Weighted Average Balance at December 31, 2017 365,764 $ 90.26 Grants 109,393 $ 105.80 Forfeitures (21,939 ) $ 98.59 Vested and issued (125,813 ) $ 85.24 Balance at December 31, 2018 327,405 $ 96.79 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 2018 , 2017 , and 2016 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: 2018 2017 2016 (In millions) Compensation expense $ 53 $ 47 $ 50 Cash settlements (a) $ 13 $ 15 $ 7 Stock settlements (a) $ 39 $ 66 $ 38 _______________________________________ (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, 2018 : Performance Shares Weighted Average Balance at December 31, 2017 1,324,401 $ 90.31 Grants 437,508 $ 105.64 Forfeitures (56,435 ) $ 96.02 Payouts (418,788 ) $ 84.84 Balance at December 31, 2018 1,286,686 $ 97.17 Unrecognized Compensation Costs As of December 31, 2018 , 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 $ 12 1.03 Performance shares 59 1.04 $ 71 1.04 Allocated Stock-Based Compensation DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation. DTE Electric's allocation for 2018 , 2017 , and 2016 for stock-based compensation expense was $38 million , $34 million , and $38 million , respectively. |
Segment and Related Information
Segment and Related Information | 12 Months Ended |
Dec. 31, 2018 | |
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 is primarily engaged in services related to the gathering, transportation, and storage of natural gas. 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 and pipeline-quality gas 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, 2018 2017 2016 (In millions) Electric $ 52 $ 48 $ 43 Gas 12 8 9 Gas Storage and Pipelines 36 42 9 Power and Industrial Projects 642 569 602 Energy Trading 27 35 39 Corporate and Other 2 2 2 $ 771 $ 704 $ 704 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) 2018 Operating Revenues — Utility operations $ 5,298 1,436 — — — — (64 ) $ 6,670 Operating Revenues — Non-utility operations $ — — 485 2,204 5,557 3 (707 ) $ 7,542 Depreciation and amortization $ 836 133 82 67 5 1 — $ 1,124 Interest expense $ 283 70 68 31 6 220 (119 ) $ 559 Interest income $ — (6 ) (9 ) (9 ) (3 ) (104 ) 119 $ (12 ) Equity in earnings of equity method investees $ — 2 123 3 — 4 — $ 132 Income Tax Expense (Benefit) $ 193 67 68 (195 ) 13 (48 ) — $ 98 Net Income (Loss) Attributable to DTE Energy Company $ 664 150 235 161 39 (129 ) — $ 1,120 Investment in equity method investees $ 7 12 1,585 134 — 33 — $ 1,771 Capital expenditures and acquisitions $ 1,979 460 176 91 5 2 — $ 2,713 Goodwill $ 1,208 743 299 26 17 — — $ 2,293 Total Assets $ 22,501 5,378 3,161 495 909 6,153 (2,309 ) $ 36,288 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) $ 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 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
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: 2018 2017 2016 (In millions) Revenues Energy sales $ 9 $ 9 $ 10 Other services $ (4 ) $ (4 ) $ (1 ) Shared capital assets $ 43 $ 39 $ 33 Costs Fuel and purchased power $ 7 $ 6 $ 10 Other services and interest $ 33 $ (2 ) $ (1 ) Corporate expenses, net $ 377 $ 370 $ 370 Other Dividends declared $ 461 $ 432 $ 420 Dividends paid $ 461 $ 432 $ 420 Capital contribution from DTE Energy $ 325 $ 100 $ 120 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, 2018 and 2017 . There were no contributions by DTE Electric to the DTE Energy Foundation for the years ended December 31, 2018 and 2016. DTE Electric's charitable contributions to the DTE Energy Foundation was $7 million for the year ended December 31, 2017 . 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 1 Organization and Basis of Presentation 20 Retirement Benefits and Trusteed Assets 21 Stock-Based Compensation |
Supplementary Quarterly Financi
Supplementary Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 Operating Revenues $ 3,753 $ 3,159 $ 3,550 $ 3,750 $ 14,212 Operating Income $ 504 $ 329 $ 429 $ 332 $ 1,594 Net Income Attributable to DTE Energy Company $ 361 $ 234 $ 334 $ 191 $ 1,120 Basic Earnings per Share $ 2.01 $ 1.29 $ 1.84 $ 1.05 $ 6.18 Diluted Earnings per Share $ 2.00 $ 1.29 $ 1.84 $ 1.05 $ 6.17 2017 Operating Revenues $ 3,236 $ 2,855 $ 3,245 $ 3,271 $ 12,607 Operating Income (a) $ 585 $ 320 $ 434 $ 372 $ 1,711 Net Income Attributable to DTE Energy Company (b) $ 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 _____________________________________ (a) Pursuant to the implementation of ASU 2017-07, amounts previously included in Operating Income — Operation and maintenance were reclassified to Other (Income) and Deductions — Non-operating retirement benefits, net on DTE Energy's Consolidated Statements of Operations. (b) 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) 2018 Operating Revenues $ 1,205 $ 1,276 $ 1,521 $ 1,296 $ 5,298 Operating Income $ 253 $ 269 $ 444 $ 168 $ 1,134 Net Income $ 140 $ 163 $ 305 $ 56 $ 664 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 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Schedule II - Valuation and Qualifying Accounts | DTE Energy Company Schedule II — Valuation and Qualifying Accounts Year Ending December 31, 2018 2017 2016 (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 $ 49 $ 41 $ 49 Additions: Charged to costs and expenses 140 80 78 Charged to other accounts (a) 55 26 18 Deductions (b) (153 ) (98 ) (104 ) Balance at End of Period $ 91 $ 49 $ 41 _______________________________________ (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, 2018 2017 2016 (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 $ 31 $ 25 $ 28 Additions: Charged to costs and expenses 85 55 49 Charged to other accounts (a) 36 14 8 Deductions (b) (99 ) (63 ) (60 ) Balance at End of Period $ 53 $ 31 $ 25 _______________________________________ (a) Collection of accounts previously written off. (b) Uncollectible accounts written off. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
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 generally 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. The Registrants have variable interests in NEXUS, which include DTE Energy's 50% ownership interest and DTE Electric's transportation services contract. NEXUS is a joint venture which owns a 256-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 its ownership interest in 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, 2018 , 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, 2018 , 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 for DTE Energy, 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. |
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 related to fixed non-refundable cash payments received from investors for which the earnings process is not contingent upon production of refined coal is recognized on a straight-line basis over the non-cancelable contract term as the economic benefit from the ownership of the facility is transferred to investors. Other income related to cash payments that is contingent upon production of refined coal is considered earned and recognized when the contingency regarding the timing and amount of payment is resolved, generally as 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 $1.0 billion at December 31, 2018 and 2017 include $264 million and $290 million of DTE Electric unbilled revenues, respectively, included in Customer Accounts receivable. 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 $4 million and $15 million of expenses related to Fermi 2 refueling outages were accrued at December 31, 2018 and 2017 , 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 1 to 15 years for DTE Energy and 3 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 Registrant's 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 record investments in debt and equity securities at market value with unrealized gains or losses included in earnings. 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 an impairment exists, a loss is recognized resulting in the equity investment being written down to its estimated fair value. |
DTE Energy Foundation | DTE Energy Foundation DTE Energy's charitable contributions to the DTE Energy Foundation were $22 million , $43 million , and $26 million for the years ended December 31, 2018 , 2017 , and 2016 , 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 Adopted 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 required 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 using either a full retrospective or modified retrospective approach. The Registrants adopted the standard effective January 1, 2018, using the modified retrospective approach. Under the modified retrospective approach, the information for periods prior to the adoption date has not been restated and continues to be reported under the accounting standards in effect for those periods. As permitted under the standard, the Registrants have elected to apply the guidance only to those contracts that were not completed at January 1, 2018, and have elected not to restate the impacts of any contract modifications made prior to the earliest period presented. The adoption of the ASU did not have a significant impact on the Registrants' financial position or results of operations, but required additional disclosures for revenue. See Note 4 to the Consolidated Financial Statements, " Revenue ." 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 required 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 of income from operations. The amendments in this update also allow only the service cost component to be eligible for capitalization when applicable. The Registrants adopted the standard effective January 1, 2018. The standard has been 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. As permitted by the standard, the Registrants have used benefit cost amounts disclosed for prior periods as the basis for retrospective application in the income statement. As a result of regulatory mechanisms, the impact to the Consolidated Financial Statements was not material for the year ended December 31, 2018 . In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , as amended. The new guidance is intended to improve the recognition and measurement of financial instruments. The guidance primarily impacts accounting for equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) and financial liabilities under the fair value option. The guidance requires equity investments to be generally measured at fair value, with subsequent changes in fair value recognized in net income. The guidance requires entities to make a cumulative-effect adjustment to the Statements of Financial Position as of the beginning of the first reporting period in which the guidance is effective. The Registrants adopted the standard effective January 1, 2018. Upon adoption, DTE Energy and DTE Electric recorded a cumulative-effect adjustment to reclassify $5 million and $3 million of unrealized gains from Accumulated other comprehensive income (loss) to Retained earnings, respectively. In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 118 . The Amendments in this update add various SEC paragraphs pursuant to the issuance of SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (SAB 118) . SAB 118 directs 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. As described in Note 10 to the Consolidated Financial Statements, "Income Taxes," within the combined DTE Energy and DTE Electric 2017 Annual Report on Form 10-K and in accordance with SAB 118, the Registrants recorded amounts that were considered provisional. During the year ended December 31, 2018 , DTE Energy and DTE Electric finalized their SAB 118 analysis and recorded true-up adjustments to the remeasurement of deferred taxes of $21 million and $7 million , respectively. The impact of the true-up adjustments was an increase in Income Tax Expense, of which $17 million was attributable to the regulated utilities and increased Regulatory liabilities. The true-up adjustments were a result of further analysis for items subject to further consideration at December 31, 2017, under SAB 118 and primarily related to timing differences not recoverable from DTE Electric and DTE Gas customers. Recently Issued Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), as amended. This guidance requires a lessee to account for leases as finance or operating leases, and disclose 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, depending on the lease classification. The Registrants will adopt the standard on January 1, 2019. The standard allows lessees and lessors to apply either, 1) a modified retrospective approach for leases existing or entered into after the beginning of the earliest comparative period in the Consolidated Financial Statements, or 2) a prospective transition approach for leases existing as of January 1, 2019 with a cumulative effect adjustment to be recorded to retained earnings. The Registrants will apply the standard on a prospective basis. The Registrants will elect the package of practical expedients allowing entities to not reassess whether an agreement is a lease, to carryforward the existing lease classification, and to not reassess initial direct costs associated with existing leases. These practical expedients apply to leases that commenced prior to January 1, 2019. The Registrants will also elect to exclude leases from the balance sheet that are for a period of one year or less, as well as, the practical expedient allowing entities to not evaluate land easements under the new guidance at adoption if they were not previously accounted for as leases. A third-party software tool has been implemented that will assist with the initial adoption and ongoing compliance of the standard. The Registrants are implementing new business processes, internal controls, and accounting policies. The Registrants are in the process of drafting disclosures to satisfy the standard's requirements. In addition, the Registrants are continuing to monitor utility industry implementation guidance and interpretation. While the Registrants expect an increase in assets and liabilities, as well as additional disclosures, they are still assessing the impact of this ASU on their Consolidated Financial Statements. 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 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. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement . The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820. The ASU is effective for the Registrants for fiscal years 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 August 2018, the FASB issued ASU No. 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans . The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for the Registrants for fiscal years ending after December 15, 2020. Early adoption is permitted. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract . The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The ASU is effective for the Registrants for fiscal years 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 October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities . The amendments in this update modify the requirements for determining whether a decision-making fee is a variable interest and require reporting entities to consider indirect interests held through related parties under common control on a proportional basis. The ASU is effective for the Registrants for fiscal years 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. |
Revenues | Upon the adoption of Topic 606, revenue is measured based upon the consideration specified in a contract with a customer at the time when performance obligations are satisfied. Under Topic 606, a performance obligation is a promise in a contract to transfer a distinct good or service or a series of distinct goods or services to the customer. The Registrants recognize revenue when performance obligations are satisfied by transferring control over a product or service to a customer. The Registrants have determined control to be transferred when the product is delivered or the service is provided to the customer. For the year ended December 31, 2018 , recognition of revenue for the Registrants subsequent to the adoption of Topic 606 is substantially similar in amount and approach to that prior to adoption. 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. |
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, 2018 and 2017 . The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs. A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability, and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows: • Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date. • Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. • Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints. |
Nuclear Decommissioning Trusts and Other Investments | Nuclear Decommissioning Trusts and Other Investments The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Other assets such as private equity investments are used to enhance long-term returns while improving portfolio diversification. All pricing for private equity 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. Commingled funds that 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. 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. |
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 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 2021. 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, renewable 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, 2018 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 outstanding at December 31, 2018 and 2017 , 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 $8 million and $4 million at December 31, 2018 and 2017 , 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 Pre_2
Organization and Basis of Presentation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 and 2017 . All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below. Amounts for DTE Energy's consolidated VIEs are as follows: December 31, 2018 December 31, 2017 SGG (a) Other Total SGG (a) Other Total (In millions) ASSETS Cash and cash equivalents $ 25 $ 14 $ 39 $ 23 $ 14 $ 37 Restricted cash — 5 5 — 8 8 Accounts receivable 9 37 46 11 42 53 Inventories 1 92 93 3 114 117 Property, plant, and equipment, net 395 46 441 400 75 475 Goodwill 25 — 25 25 — 25 Intangible assets 557 — 557 572 — 572 Other current and long-term assets 3 — 3 4 — 4 $ 1,015 $ 194 $ 1,209 $ 1,038 $ 253 $ 1,291 LIABILITIES Accounts payable and accrued current liabilities $ 3 $ 31 $ 34 $ 26 $ 47 $ 73 Current portion long-term debt, including capital leases — — — — 4 4 Mortgage bonds, notes, and other — — — — 1 1 Other current and long-term liabilities 9 10 19 1 16 17 $ 12 $ 41 $ 53 $ 27 $ 68 $ 95 _____________________________________ (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, 2018 2017 (In millions) Investments in equity method investees $ 1,425 $ 811 Notes receivable $ 15 $ 17 Future funding commitments $ 55 $ 598 |
Equity Method Investments | Summarized balance sheet data is as follows: December 31, 2018 2017 (In millions) Current Assets $ 358 $ 344 Non-current assets $ 5,101 $ 3,576 Current Liabilities $ 391 $ 345 Non-current liabilities $ 762 $ 858 Summarized income statement data is as follows: December 31, 2018 2017 2016 (In millions) Operating Revenues $ 883 $ 756 $ 767 Operating Expenses $ 622 $ 561 $ 526 Net Income $ 365 $ 254 $ 225 DTE Energy equity method investees are described below: Investments % Owned Segment 2018 2017 2018 2017 Description (In millions) Significant Equity Method Investees Gas Storage and Pipelines NEXUS Pipeline $ 1,260 $ 640 50% 50% 256-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers Vector Pipeline 123 115 40% 40% 348-mile pipeline connecting Chicago, Michigan, and Ontario market centers Millennium Pipeline 202 124 26% 26% 269-mile pipeline serving markets in the Northeast 1,585 879 Other Equity Method Investees Other Segments 186 194 $ 1,771 $ 1,073 |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Other Income | The following is a summary of DTE Energy's Other income: 2018 2017 2016 (In millions) Equity earnings of equity method investees $ 132 $ 102 $ 68 Income from REF entities 98 77 75 Contract services 51 19 21 Allowance for equity funds used during construction 28 23 21 Gains from trading securities 6 26 15 Other 18 21 7 $ 333 $ 268 $ 207 The following is a summary of DTE Electric's Other income: 2018 2017 2016 (In millions) Contract services $ 51 $ 21 $ 20 Allowance for equity funds used during construction 19 18 18 Gains from trading securities allocated from DTE Energy 6 26 15 Other 7 12 8 $ 83 $ 77 $ 61 |
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, 2018 and 2017 : 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, 2016 $ (4 ) $ (3 ) $ (120 ) $ (6 ) $ (133 ) Other comprehensive income (loss) before reclassifications — 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 ) Implementation of ASU 2016-01 (7 ) 2 — — (5 ) Other comprehensive loss before reclassifications (2 ) — (1 ) (2 ) (5 ) Amounts reclassified from Accumulated other comprehensive income 1 — 9 — 10 Net current-period Other comprehensive income (loss) (8 ) 2 8 (2 ) — Balance, December 31, 2018 $ (11 ) $ — $ (102 ) $ (7 ) $ (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 Cash and Cash Equivalents | The following is a table that provides a reconciliation of DTE Energy's Cash and cash equivalents as well as Restricted cash reported within the Consolidated Statements of Financial Position that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows: 2018 2017 (In millions) Cash and cash equivalents $ 71 $ 66 Restricted cash 5 23 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows $ 76 $ 89 |
Schedule of Restricted Cash | The following is a table that provides a reconciliation of DTE Energy's Cash and cash equivalents as well as Restricted cash reported within the Consolidated Statements of Financial Position that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows: 2018 2017 (In millions) Cash and cash equivalents $ 71 $ 66 Restricted cash 5 23 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows $ 76 $ 89 |
Schedule of Finite-Lived Intangible Assets by Major Class | The Registrants have certain Intangible assets as shown below: December 31, 2018 December 31, 2017 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 25 - 40 years (a) $ 779 $ (44 ) $ 735 $ 770 $ (24 ) $ 746 Contract intangibles 6 to 26 years 159 (66 ) 93 168 (72 ) 96 938 (110 ) 828 938 (96 ) 842 DTE Electric renewable energy credits (b) 20 — 20 24 — 24 DTE Electric emission allowances (b) 1 — 1 1 — 1 21 — 21 25 — 25 Long-term intangible assets DTE Electric $ 21 $ — $ 21 $ 25 $ — $ 25 DTE Energy $ 959 $ (110 ) $ 849 $ 963 $ (96 ) $ 867 ______________________________________ (a) 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. (b) 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 Indefinite-Lived Intangible Assets | The Registrants have certain Intangible assets as shown below: December 31, 2018 December 31, 2017 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 25 - 40 years (a) $ 779 $ (44 ) $ 735 $ 770 $ (24 ) $ 746 Contract intangibles 6 to 26 years 159 (66 ) 93 168 (72 ) 96 938 (110 ) 828 938 (96 ) 842 DTE Electric renewable energy credits (b) 20 — 20 24 — 24 DTE Electric emission allowances (b) 1 — 1 1 — 1 21 — 21 25 — 25 Long-term intangible assets DTE Electric $ 21 $ — $ 21 $ 25 $ — $ 25 DTE Energy $ 959 $ (110 ) $ 849 $ 963 $ (96 ) $ 867 ______________________________________ (a) 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. (b) 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 2023 : 2019 2020 2021 2022 2023 (In millions) Estimated amortization expense $ 27 $ 26 $ 25 $ 25 $ 25 |
Schedule of Accounting Policies | See the following notes for other accounting policies impacting the Registrants’ Consolidated Financial Statements: Note Title 4 Revenue 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 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following is a summary of revenues disaggregated by segment for DTE Energy: 2018 (In millions) Electric (a) Residential $ 2,494 Commercial 1,794 Industrial 690 Other 320 Total Electric operating revenues (b) $ 5,298 Gas Gas sales $ 1,055 End User Transportation 232 Intermediate Transportation 58 Other 91 Total Gas operating revenues (c) $ 1,436 Other segment operating revenues Gas Storage and Pipelines $ 485 Power and Industrial Projects (d) $ 2,204 Energy Trading (e) $ 5,557 _______________________________________ (a) Revenues under the Electric segment generally represent those of DTE Electric. (b) Includes $21 million under Alternative Revenue Programs and $20 million of other revenues, which are both outside the scope of Topic 606 for the year ended December 31, 2018 . (c) Includes $2 million under Alternative Revenue Programs and $7 million of other revenues, which are both outside the scope of Topic 606 for the year ended December 31, 2018 . (d) Includes revenues outside the scope of Topic 606 primarily related to $125 million of contracts accounted for as leases for the year ended December 31, 2018 . (e) Includes revenues outside the scope of Topic 606 primarily related to $4.5 billion of derivatives for the year ended December 31, 2018 . |
Summary of Deferred Revenue Activity | The following is a summary of deferred revenue activity: DTE Energy (In millions) Beginning Balance, January 1, 2018 $ 56 Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 48 Revenue recognized that was included in the deferred revenue balance at the beginning of the period (30 ) Ending Balance, December 31, 2018 $ 74 |
Deferred Revenue Amounts Expected to be Recognized as Revenue in Future Periods | The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted: DTE Energy DTE Electric (In millions) 2019 $ 267 $ 8 2020 263 — 2021 219 — 2022 172 — 2023 139 — 2024 and thereafter 658 — $ 1,718 $ 8 The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods: DTE Energy (In millions) 2019 $ 46 2020 1 2021 5 2022 7 2023 5 2024 and thereafter 10 $ 74 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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: 2018 2017 (In millions) Balance as of January 1 $ 2,293 $ 2,286 Goodwill attributable to Gas Storage and Pipelines 2016 acquisition of AGS and SGG — 7 Balance at December 31 $ 2,293 $ 2,293 |
Property, Plant, and Equipment
Property, Plant, and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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: 2018 2017 2016 (In millions) Property, plant, and equipment $ 912 $ 865 $ 783 Regulatory assets and liabilities 212 165 193 $ 1,124 $ 1,030 $ 976 The following is a summary of Depreciation and amortization expense for DTE Electric: 2018 2017 2016 (In millions) Property, plant, and equipment $ 657 $ 620 $ 582 Regulatory assets and liabilities 179 133 168 $ 836 $ 753 $ 750 The following is a summary of Property, plant, and equipment by classification as of December 31: 2018 2017 Property, plant, and equipment (In millions) DTE Electric Generation $ 11,027 $ 12,166 Distribution 9,153 8,637 Other 2,567 2,169 Total DTE Electric 22,747 22,972 DTE Gas Distribution 3,823 3,523 Storage 548 533 Transmission and other 1,204 1,118 Total DTE Gas 5,575 5,174 Non-utility and other 3,488 3,278 Total DTE Energy 31,810 31,424 Accumulated depreciation and amortization DTE Electric Generation (3,609 ) (4,403 ) Distribution (2,974 ) (2,914 ) Other (727 ) (667 ) Total DTE Electric (7,310 ) (7,984 ) DTE Gas Distribution (1,283 ) (1,238 ) Storage (165 ) (159 ) Transmission and other (404 ) (384 ) Total DTE Gas (1,852 ) (1,781 ) Non-utility and other (998 ) (938 ) Total DTE Energy (10,160 ) (10,703 ) Net DTE Energy Property, plant, and equipment $ 21,650 $ 20,721 Net DTE Electric Property, plant, and equipment $ 15,437 $ 14,988 |
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 2018 2017 2018 2017 (In millions) Allowance for debt funds used during construction and interest capitalized $ 15 $ 13 $ 9 $ 8 Allowance for equity funds used during construction 28 23 19 18 Total $ 43 $ 36 $ 28 $ 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, 2018 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, 2018 2017 2016 (In millions) Amortization expense of capitalized software $ 108 $ 101 $ 89 Gross carrying value of capitalized software $ 905 $ 890 Accumulated amortization of capitalized software $ 534 $ 500 The following balances for capitalized software relate to DTE Electric: Year Ended December 31, 2018 2017 2016 (In millions) Amortization expense of capitalized software $ 101 $ 93 $ 83 Gross carrying value of capitalized software $ 799 $ 774 Accumulated amortization of capitalized software $ 463 $ 423 |
Schedule of Property Under Operating Leases | Property under operating leases for DTE Energy is as follows: DTE Energy 2018 2017 (In millions) Gross property under operating leases $ 447 $ 327 Accumulated amortization of property under operating leases $ 148 $ 108 |
Schedule of Capital Leased Assets | Property under capital leases for the Registrants is as follows: DTE Energy DTE Electric 2018 2017 2018 2017 (In millions) Gross property under capital leases $ 18 $ 44 $ 18 $ 18 Accumulated amortization of property under capital leases $ 7 $ 38 $ 7 $ 12 |
Jointly-Owned Utility Plant (Ta
Jointly-Owned Utility Plant (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Jointly Owned Utility Plant, Net Ownership Amount [Abstract] | |
Schedule of Jointly-Owned Utility Plants | DTE Electric's ownership information of the two utility plants as of December 31, 2018 was as follows: Belle River Ludington Hydroelectric Pumped Storage In-service date 1984-1985 1973 Ownership interest 81% 49% Investment in Property, plant, and equipment (in millions) $ 1,819 $ 586 Accumulated depreciation (in millions) $ 1,068 $ 187 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Schedule of Change in Asset Retirement Obligations | A reconciliation of the asset retirement obligations for 2018 follows: DTE Energy DTE Electric (In millions) Asset retirement obligations at December 31, 2017 $ 2,320 $ 2,125 Accretion 140 129 Liabilities incurred 27 27 Liabilities settled (16 ) (8 ) Revision in estimated cash flows (2 ) (2 ) Asset retirement obligations at December 31, 2018 $ 2,469 $ 2,271 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 2018 2017 2018 2017 Assets (In millions) Recoverable pension and other postretirement costs Pension $ 1,961 $ 2,000 $ 1,476 $ 1,502 Other postretirement costs 213 278 121 211 Asset retirement obligation 778 569 778 569 Recoverable undepreciated costs on retiring plants 630 — 630 — Removal costs asset 407 299 407 299 Recoverable Michigan income taxes 201 213 161 171 Accrued PSCR/GCR revenue 116 17 116 17 Deferred environmental costs 69 75 — — Unamortized loss on reacquired debt 60 65 43 46 Recoverable income taxes related to AFUDC equity 51 41 41 35 Energy Waste Reduction incentive 49 39 39 30 Nuclear Performance Evaluation and Review Committee Tracker 43 22 43 22 Customer360 deferred costs 42 45 42 45 Other recoverable income taxes 23 26 23 26 Transitional Reconciliation Mechanism 21 46 21 46 Other 57 43 36 36 4,721 3,778 3,977 3,055 Less amount included in Current Assets (153 ) (55 ) (148 ) (50 ) $ 4,568 $ 3,723 $ 3,829 $ 3,005 |
Schedule of Regulatory Liabilities | DTE Energy DTE Electric 2018 2017 2018 2017 Liabilities (In millions) Refundable federal income taxes $ 2,410 $ 2,384 $ 1,958 $ 1,946 Removal costs liability 253 265 — — TCJA rate reduction liability 118 — 93 — Negative other postretirement offset 101 80 79 67 Renewable energy 86 112 86 112 Refundable self-implemented rates 26 2 26 2 Negative pension offset 9 21 — — Fermi 2 refueling outage 4 15 4 15 Other 41 14 23 12 3,048 2,893 2,269 2,154 Less amount included in Current Liabilities (126 ) (18 ) (98 ) (17 ) $ 2,922 $ 2,875 $ 2,171 $ 2,137 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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: 2018 2017 2016 DTE Energy (In millions) Income Before Income Taxes $ 1,216 $ 1,287 $ 1,105 Income tax expense at statutory rate - 21% in 2018 - 35% in 2017 and 2016 $ 255 $ 450 $ 387 Production tax credits (223 ) (189 ) (145 ) Investment tax credits (4 ) (4 ) (5 ) Depreciation 2 (4 ) (4 ) Noncontrolling interests 2 8 12 AFUDC equity (14 ) (18 ) (10 ) Employee Stock Ownership Plan dividends (3 ) (5 ) (5 ) Stock based compensation (3 ) (14 ) — Subsidiary stock loss — — (10 ) State and local income taxes, net of federal benefit 60 51 58 Enactment of the Tax Cuts and Jobs Act 21 (105 ) — Other, net 5 5 (7 ) Income Tax Expense $ 98 $ 175 $ 271 Effective income tax rate 8.1 % 13.6 % 24.5 % 2018 2017 2016 DTE Electric (In millions) Income Before Income Taxes $ 857 $ 928 $ 975 Income tax expense at statutory rate - 21% in 2018 - 35% in 2017 and 2016 $ 180 $ 325 $ 341 Production tax credits (35 ) (36 ) (30 ) Investment tax credits (3 ) (4 ) (4 ) Depreciation 2 3 3 AFUDC equity (3 ) (5 ) (6 ) Employee Stock Ownership Plan dividends (2 ) (3 ) (3 ) State and local income taxes, net of federal benefit 49 48 56 Enactment of the Tax Cuts and Jobs Act 7 — — Other, net (2 ) (1 ) (4 ) Income Tax Expense $ 193 $ 327 $ 353 Effective income tax rate 22.5 % 35.2 % 36.2 % |
Schedule of Components of Income Tax Expense (Benefit) | Components of the Registrants' Income Tax Expense were as follows: 2018 2017 2016 DTE Energy (In millions) Current income tax expense (benefit) Federal $ (17 ) $ (22 ) $ (1 ) State and other income tax 1 1 7 Total current income taxes (16 ) (21 ) 6 Deferred income tax expense Federal 38 118 184 State and other income tax 76 78 81 Total deferred income taxes 114 196 265 $ 98 $ 175 $ 271 2018 2017 2016 DTE Electric (In millions) Current income tax expense (benefit) Federal $ — $ (17 ) $ — State and other income tax 4 (1 ) 11 Total current income taxes 4 (18 ) 11 Deferred income tax expense Federal 131 270 268 State and other income tax 58 75 74 Total deferred income taxes 189 345 342 $ 193 $ 327 $ 353 |
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 2018 2017 2018 2017 (In millions) Property, plant, and equipment $ (3,462 ) $ (3,276 ) $ (2,840 ) $ (2,698 ) Regulatory assets and liabilities (54 ) (94 ) (3 ) (31 ) Tax credit carry-forwards 1,178 947 250 193 Pension and benefits 311 334 258 302 Federal net operating loss carry-forward 117 83 2 47 State and local net operating loss carry-forwards 59 70 1 5 Investments in equity method investees (216 ) (82 ) (1 ) — Other 125 170 87 94 (1,942 ) (1,848 ) (2,246 ) (2,088 ) Less valuation allowance (33 ) (40 ) — — Long-term deferred income tax liabilities $ (1,975 ) $ (1,888 ) $ (2,246 ) $ (2,088 ) Deferred income tax assets $ 2,021 $ 1,814 $ 855 $ 830 Deferred income tax liabilities (3,996 ) (3,702 ) (3,101 ) (2,918 ) $ (1,975 ) $ (1,888 ) $ (2,246 ) $ (2,088 ) |
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: 2018 2017 2016 DTE Energy (In millions) Balance at January 1 $ 10 $ 10 $ 3 Additions for tax positions of prior years — — 7 Balance at December 31 $ 10 $ 10 $ 10 2018 2017 2016 DTE Electric (In millions) Balance at January 1 $ 13 $ 13 $ 4 Additions for tax positions of prior years — — 9 Balance at December 31 $ 13 $ 13 $ 13 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 : 2018 2017 2016 (In millions, except per share amounts) Basic Earnings per Share Net Income Attributable to DTE Energy Company $ 1,120 $ 1,134 $ 868 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — basic $ 1,118 $ 1,132 $ 866 Average number of common shares outstanding — basic 181 179 179 Basic Earnings per Common Share $ 6.18 $ 6.32 $ 4.84 Diluted Earnings per Share Net Income Attributable to DTE Energy Company $ 1,120 $ 1,134 $ 868 Less: Allocation of earnings to net restricted stock awards (2 ) (2 ) (2 ) Net income available to common shareholders — diluted $ 1,118 $ 1,132 $ 866 Average number of common shares outstanding — diluted 181 179 179 Diluted Earnings per Common Share (a) $ 6.17 $ 6.32 $ 4.83 _______________________________________ (a) The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6.3 million for the years ended December 31, 2018 and 2017 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 (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 (a) : December 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Other (b) Netting (c) Net Balance Level 1 Level 2 Level 3 Other (b) Netting (c) Net Balance (In millions) Assets Cash equivalents (d) $ 16 $ 2 $ — $ — $ — $ 18 $ 16 $ 3 $ — $ — $ — $ 19 Nuclear decommissioning trusts Equity securities 851 — — — — 851 978 — — — — 978 Fixed income securities 12 490 — — — 502 18 477 — — — 495 Private equity and other — — — 20 — 20 — — — 5 — 5 Cash equivalents 5 — — — — 5 14 — — — — 14 Other investments (e) Equity securities 110 — — — — 110 118 — — — — 118 Fixed income securities 69 — — — — 69 72 — — — — 72 Cash equivalents 4 — — — — 4 4 — — — — 4 Derivative assets: Commodity Contracts: Natural Gas 199 87 63 — (277 ) 72 148 112 97 — (256 ) 101 Electricity — 247 56 — (252 ) 51 — 243 42 — (241 ) 44 Other — — 7 — (1 ) 6 — — 9 — — 9 Foreign currency exchange contracts — 4 — — — 4 — 1 — — (1 ) — Total derivative assets 199 338 126 — (530 ) 133 148 356 148 — (498 ) 154 Total $ 1,266 $ 830 $ 126 $ 20 $ (530 ) $ 1,712 $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 Liabilities Derivative liabilities: Commodity Contracts: Natural Gas $ (197 ) $ (71 ) $ (112 ) $ — $ 272 $ (108 ) $ (141 ) $ (111 ) $ (126 ) $ — $ 263 $ (115 ) Electricity — (227 ) (58 ) — 240 (45 ) — (245 ) (30 ) — 246 (29 ) Other — (1 ) — — 1 — — — (1 ) — 1 — Interest rate contracts — (3 ) — — — (3 ) — — — — — — Foreign currency exchange contracts — — — — — — — (3 ) — — 1 (2 ) Total derivative liabilities (197 ) (302 ) (170 ) — 513 (156 ) (141 ) (359 ) (157 ) — 511 (146 ) Total $ (197 ) $ (302 ) $ (170 ) $ — $ 513 $ (156 ) $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) Net Assets (Liabilities) at end of period $ 1,069 $ 528 $ (44 ) $ 20 $ (17 ) $ 1,556 $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 Assets Current $ 212 $ 273 $ 96 $ — $ (461 ) $ 120 $ 157 $ 298 $ 104 $ — $ (437 ) $ 122 Noncurrent 1,054 557 30 20 (69 ) 1,592 1,211 538 44 5 (61 ) 1,737 Total Assets $ 1,266 $ 830 $ 126 $ 20 $ (530 ) $ 1,712 $ 1,368 $ 836 $ 148 $ 5 $ (498 ) $ 1,859 Liabilities Current $ (191 ) $ (251 ) $ (76 ) $ — $ 451 $ (67 ) $ (137 ) $ (313 ) $ (108 ) $ — $ 459 $ (99 ) Noncurrent (6 ) (51 ) (94 ) — 62 (89 ) (4 ) (46 ) (49 ) — 52 (47 ) Total Liabilities $ (197 ) $ (302 ) $ (170 ) $ — $ 513 $ (156 ) $ (141 ) $ (359 ) $ (157 ) $ — $ 511 $ (146 ) Net Assets (Liabilities) at end of period $ 1,069 $ 528 $ (44 ) $ 20 $ (17 ) $ 1,556 $ 1,227 $ 477 $ (9 ) $ 5 $ 13 $ 1,713 _______________________________________ (a) See footnotes on following page. _______________________________________ (b) Amounts represent assets valued at NAV as a practical expedient for fair value. (c) 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. (d) At December 31, 2018 , the $18 million consisted of $3 million , $5 million , and $10 million of cash equivalents included in Cash and Cash equivalents, Restricted cash, and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2017 , the $19 million consisted of $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. (e) 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, 2018 December 31, 2017 Level 1 Level 2 Level 3 Other (a) Net Balance Level 1 Level 2 Level 3 Other Net Balance (In millions) Assets Cash equivalents (b) $ 8 $ 2 $ — $ — $ 10 $ 8 $ 3 $ — $ — $ 11 Nuclear decommissioning trusts Equity securities 851 — — — 851 978 — — — 978 Fixed income securities 12 490 — — 502 18 477 — — 495 Private equity and other — — — 20 20 — — — 5 5 Cash equivalents 5 — — — 5 14 — — — 14 Other investments Equity securities 10 — — — 10 11 — — — 11 Derivative assets — FTRs — — 6 — 6 — — 9 — 9 Total $ 886 $ 492 $ 6 $ 20 $ 1,404 $ 1,029 $ 480 $ 9 $ 5 $ 1,523 Assets Current $ 8 $ 2 $ 6 $ — $ 16 $ 8 $ 3 $ 9 $ — $ 20 Noncurrent 878 490 — 20 1,388 1,021 477 — 5 1,503 Total Assets $ 886 $ 492 $ 6 $ 20 $ 1,404 $ 1,029 $ 480 $ 9 $ 5 $ 1,523 _______________________________________ (a) Amounts represent assets valued at NAV as a practical expedient for fair value. (b) At December 31, 2018 , the $10 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2017 , the $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: Year Ended December 31, 2018 Year Ended December 31, 2017 Natural Gas Electricity Other Total Natural Gas Electricity Other Total (In millions) Net Assets (Liabilities) as of January 1 $ (29 ) $ 12 $ 8 $ (9 ) $ (96 ) $ 9 $ (1 ) $ (88 ) Transfers into Level 3 from Level 2 — — — — — — — — Transfers from Level 3 into Level 2 (3 ) — — (3 ) — — — — Total gains (losses) Included in earnings (146 ) 29 1 (116 ) (29 ) 109 2 82 Recorded in Regulatory liabilities — — 9 9 — — 25 25 Purchases, issuances, and settlements: Purchases — — — — — — — — Issuances — — — — — — — — Settlements 129 (43 ) (11 ) 75 96 (106 ) (18 ) (28 ) Net Assets (Liabilities) as of December 31 $ (49 ) $ (2 ) $ 7 $ (44 ) $ (29 ) $ 12 $ 8 $ (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, 2018 and 2017 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations $ (119 ) $ 15 $ (16 ) $ (120 ) $ (30 ) $ 50 $ 1 $ 21 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: Year Ended December 31, 2018 2017 (In millions) Net Assets as of January 1 $ 9 $ 2 Change in fair value recorded in Regulatory liabilities 9 25 Purchases, issuances, and settlements: Settlements (12 ) (18 ) Net Assets as of December 31 $ 6 $ 9 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, 2018 and 2017 and reflected in DTE Electric's Consolidated Statements of Financial Position $ 6 $ 9 |
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: December 31, 2018 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 63 $ (112 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (2.15 ) — $ 5.59 /MMBtu $ (0.1 )/MMBtu Electricity $ 56 $ (58 ) Discounted Cash Flow Forward basis price (per MWh) $ (7 ) — $ 9 /MWh $ 1 /MWh 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 |
Fair Value of Financial Instruments | The following table presents the carrying amount and fair value of financial instruments for DTE Energy: December 31, 2018 December 31, 2017 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 $ 40 $ — $ — $ 40 $ 38 $ — $ — $ 38 Dividends payable $ 172 $ 172 $ — $ — $ 158 $ 158 $ — $ — Short-term borrowings $ 609 $ — $ 609 $ — $ 621 $ — $ 621 $ — Notes payable — Other (b) , excluding capital leases $ 41 $ — $ — $ 41 $ 12 $ — $ — $ 12 Long-term debt (c) $ 13,622 $ 1,796 $ 10,712 $ 1,317 $ 12,288 $ 1,939 $ 10,571 $ 764 _______________________________________ (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, and issuance costs. Excludes Capital lease obligations. The following table presents the carrying amount and fair value of financial instruments for DTE Electric: December 31, 2018 December 31, 2017 Carrying Fair Value Carrying Fair Value Amount Level 1 Level 2 Level 3 Amount Level 1 Level 2 Level 3 (In millions) Notes receivable, excluding capital leases $ 6 $ — $ — $ 6 $ — $ — $ — $ — Short-term borrowings — affiliates $ 101 $ — $ 101 $ 116 $ — $ — $ 116 Short-term borrowings — other $ 149 $ — $ 149 $ — 238 $ — $ 238 $ — Notes payable — Other (a) , excluding capital leases $ 21 $ — $ — $ 21 $ 2 $ — $ — $ 2 Long-term debt (b) $ 6,538 $ — $ 6,552 $ 161 $ 6,017 $ — $ 6,441 $ 171 _______________________________________ (a) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position. (b) 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, 2018 2017 (In millions) Fermi 2 $ 1,372 $ 1,475 Fermi 1 3 3 Low-level radioactive waste 3 14 $ 1,378 $ 1,492 |
Schedule of Realized Gain (Loss) for Nuclear Decommissioning Trust Funds | The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds: Year Ended December 31, 2018 2017 2016 (In millions) Realized gains $ 65 $ 83 $ 74 Realized losses $ (42 ) $ (29 ) $ (63 ) Proceeds from sale of securities $ 1,203 $ 1,240 $ 1,457 |
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, 2018 December 31, 2017 Fair Unrealized Unrealized Losses Fair Unrealized Unrealized Losses (In millions) Equity securities $ 851 $ 235 $ (79 ) $ 978 $ 320 $ (32 ) Fixed income securities 502 7 (8 ) 495 13 (3 ) Private equity and other 20 — — 5 — — Cash equivalents 5 — — 14 — — $ 1,378 $ 242 $ (87 ) $ 1,492 $ 333 $ (35 ) |
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, 2018 (In millions) Due within one year $ 29 Due after one through five years 89 Due after five through ten years 113 Due after ten years 271 $ 502 |
Financial and Other Derivativ_2
Financial and Other Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | The following table presents the fair value of derivative instruments for DTE Energy: December 31, 2018 December 31, 2017 Derivative Derivative Derivative Derivative (In millions) Derivatives designated as hedging instruments Interest rate contracts $ — $ (3 ) $ — $ — Derivatives not designated as hedging instruments Commodity contracts Natural gas $ 349 $ (380 ) $ 357 $ (378 ) Electricity 303 (285 ) 285 (275 ) Other 7 (1 ) 9 (1 ) Foreign currency exchange contracts 4 — 1 (3 ) Total derivatives not designated as hedging instruments $ 663 $ (666 ) $ 652 $ (657 ) Current $ 563 $ (518 ) $ 540 $ (558 ) Noncurrent 100 (151 ) 112 (99 ) Total derivatives $ 663 $ (669 ) $ 652 $ (657 ) The following table presents the fair value of derivative instruments for DTE Electric: December 31, 2018 2017 (In millions) FTRs — Other current assets $ 6 $ 9 Total derivatives not designated as hedging instruments $ 6 $ 9 |
Offsetting Assets | The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy: December 31, 2018 December 31, 2017 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 $ 349 $ (277 ) $ 72 $ 357 $ (256 ) $ 101 Electricity 303 (252 ) 51 285 (241 ) 44 Other 7 (1 ) 6 9 — 9 Foreign currency exchange contracts 4 — 4 1 (1 ) — Total derivative assets $ 663 $ (530 ) $ 133 $ 652 $ (498 ) $ 154 Derivative liabilities Commodity contracts Natural gas $ (380 ) $ 272 $ (108 ) $ (378 ) $ 263 $ (115 ) Electricity (285 ) 240 (45 ) (275 ) 246 (29 ) Other (1 ) 1 — (1 ) 1 — Interest rate contracts (3 ) — (3 ) — — — Foreign currency exchange contracts — — — (3 ) 1 (2 ) Total derivative liabilities $ (669 ) $ 513 $ (156 ) $ (657 ) $ 511 $ (146 ) |
Offsetting Liabilities | The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy: December 31, 2018 December 31, 2017 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 $ 349 $ (277 ) $ 72 $ 357 $ (256 ) $ 101 Electricity 303 (252 ) 51 285 (241 ) 44 Other 7 (1 ) 6 9 — 9 Foreign currency exchange contracts 4 — 4 1 (1 ) — Total derivative assets $ 663 $ (530 ) $ 133 $ 652 $ (498 ) $ 154 Derivative liabilities Commodity contracts Natural gas $ (380 ) $ 272 $ (108 ) $ (378 ) $ 263 $ (115 ) Electricity (285 ) 240 (45 ) (275 ) 246 (29 ) Other (1 ) 1 — (1 ) 1 — Interest rate contracts (3 ) — (3 ) — — — Foreign currency exchange contracts — — — (3 ) 1 (2 ) Total derivative liabilities $ (669 ) $ 513 $ (156 ) $ (657 ) $ 511 $ (146 ) |
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: December 31, 2018 December 31, 2017 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Current Noncurrent Current Noncurrent Current Noncurrent Current Noncurrent (In millions) Total fair value of derivatives $ 563 $ 100 $ (518 ) $ (151 ) $ 540 $ 112 $ (558 ) $ (99 ) Counterparty netting (451 ) (62 ) 451 62 (437 ) (52 ) 437 52 Collateral adjustment (10 ) (7 ) — — — (9 ) 22 — Total derivatives as reported $ 102 $ 31 $ (67 ) $ (89 ) $ 103 $ 51 $ (99 ) $ (47 ) |
Gain (Loss) Recognized in Income on Derivatives | The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows: Location of Gain (Loss) Recognized in Income on Derivatives Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, 2018 2017 2016 (In millions) Derivatives not Designated as Hedging Instruments Commodity contracts Natural gas Operating Revenues — Non-utility operations $ (42 ) $ (74 ) $ (153 ) Natural gas Fuel, purchased power, and gas — non-utility (94 ) 97 (2 ) Electricity Operating Revenues — Non-utility operations 49 105 43 Other Operating Revenues — Non-utility operations (1 ) 2 5 Foreign currency exchange contracts Operating Revenues — Non-utility operations 7 (2 ) (2 ) Total $ (81 ) $ 128 $ (109 ) |
Volume of Commodity Contracts | The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of December 31, 2018 : Commodity Number of Units Natural Gas (MMBtu) 2,171,541,994 Electricity (MWh) 36,163,761 Foreign Currency Exchange (Canadian dollars) 101,975,644 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Long-term Debt, Unclassified [Abstract] | |
Schedule of Long-term Debt Instruments | At December 31, 2018 , 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 $33 million and $32 million were made in 2018 and 2017, respectively. The stock purchase contract liability, exclusive of interest, was $33 million and $66 million at December 31, 2018 and 2017 , respectively. DTE Energy's long-term debt outstanding and weighted average interest rates of debt outstanding at December 31 were: Interest Rate (a) Maturity Date 2018 2017 (In millions) Mortgage bonds, notes, and other DTE Energy Debt, Unsecured 3.2% 2019 — 2033 $ 4,425 $ 3,825 DTE Electric Taxable Debt, Principally Secured 4.3% 2020 — 2048 6,280 5,755 DTE Electric Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 DTE Gas Taxable Debt, Principally Secured 4.5% 2019 — 2048 1,550 1,330 Other Long-Term Debt, including Non-Recourse Debt 1 7 12,566 11,227 Unamortized debt discount and premium, net (16 ) (15 ) Unamortized debt issuance costs (73 ) (69 ) Long-term debt due within one year (1,495 ) (104 ) $ 10,982 $ 11,039 Junior Subordinated Debentures Subordinated Debentures 5.5% 2062 — 2077 $ 1,180 $ 1,180 Unamortized debt issuance costs (35 ) (35 ) $ 1,145 $ 1,145 _______________________________________ (a) Weighted average interest rate as of December 31, 2018 . (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 2018 2017 (In millions) Mortgage bonds, notes, and other Taxable Debt, Principally Secured 4.3% 2020 — 2048 $ 6,280 $ 5,755 Tax-Exempt Revenue Bonds (b) 4.3% 2020 — 2030 310 310 6,590 6,065 Unamortized debt discount (11 ) (10 ) Unamortized debt issuance costs (41 ) (38 ) $ 6,538 $ 6,017 _______________________________________ (a) Weighted average interest rate as of December 31, 2018 . (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 2018 , the following debt was issued: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Electric May Mortgage Bonds (a) 4.05% 2048 $ 525 DTE Energy August Senior Notes (b) 3.70% 2023 600 DTE Gas August Mortgage Bonds (b) 3.81% 2028 195 DTE Gas August Mortgage Bonds (b) 4.14% 2048 125 $ 1,445 _______________________________________ (a) Bonds were issued as Green Bonds and the proceeds will be used to finance expenditures for solar and wind energy, payments under power purchase agreements for solar and wind energy, and energy optimization programs. (b) Proceeds were used for the repayment of short-term borrowings and general corporate purposes. |
Schedule of Debt Redeemed | In 2018 , the following debt was redeemed: Company Month Type Interest Rate Maturity Date Amount (In millions) DTE Gas April Senior Notes 6.04% 2018 $ 100 DTE Energy Various Other Long-Term Debt Various 2018 5 $ 105 |
Schedule of Maturities of Long-term Debt | The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount or premium on debt: 2019 2020 2021 2022 2023 2024 and Thereafter Total (In millions) DTE Energy (a) $ 1,495 $ 682 $ 462 $ 616 $ 1,177 $ 9,314 $ 13,746 DTE Electric $ — $ 632 $ 462 $ 316 $ 202 $ 4,978 $ 6,590 _______________________________________ (a) Amounts include DTE Electric's scheduled debt maturities. |
Preferred and Preference Secu_2
Preferred and Preference Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Schedule of Preferred and Preference Securities | As of December 31, 2018 , 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 Arrangement_2
Short-Term Credit Arrangements and Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Short-term Debt [Abstract] | |
Schedule of Line of Credit Facilities | The availability under the facilities in place at December 31, 2018 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, 2018 Commercial paper issuances 271 149 189 609 Letters of credit 168 — — 168 439 149 189 777 Net availability at December 31, 2018 $ 981 $ 251 $ 111 $ 1,343 |
Capital and Operating Leases (T
Capital and Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 were: DTE Energy DTE Electric (In millions) 2019 $ 42 $ 17 2020 30 12 2021 18 10 2022 11 7 2023 8 5 2024 and thereafter 45 29 Total minimum lease payments $ 154 $ 80 |
Schedule of Future Rental Revenue for Operating Leases | DTE Energy's minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were: DTE Energy (In millions) 2019 $ 66 2020 66 2021 64 2022 20 2023 20 2024 and thereafter 196 Total minimum future rental revenue under non-cancelable operating leases $ 432 |
Schedule of Future Minimum Lease Receivables for Capital Leases | The components of DTE Energy's net investment in capital leases at December 31, 2018 , were as follows: DTE Energy (In millions) 2019 $ 10 2020 9 2021 — 2022 — 2023 — 2024 and thereafter 1 Total minimum future lease receipts 20 Residual value of leased pipeline 40 Less unearned income (9 ) Net investment in capital lease 51 Less current portion (5 ) $ 46 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Long-term Purchase Commitments | The Registrants estimate the following commitments from 2019 through 2051 for DTE Energy, and 2019 through 2039 for DTE Electric, as detailed in the following table: DTE Energy DTE Electric (In millions) 2019 $ 2,691 $ 777 2020 1,311 541 2021 632 171 2022 409 88 2023 351 85 2024 and thereafter 1,953 737 $ 7,347 $ 2,399 |
Retirement Benefits and Trust_2
Retirement Benefits and Trusteed Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | The table below represents the pension and other postretirement benefit plans of each Registrant at December 31, 2018 : 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 2018 2017 (In millions) Accumulated benefit obligation, end of year $ 4,779 $ 5,149 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 5,576 $ 5,171 Service cost 99 92 Interest cost 202 214 Plan amendments — (11 ) Actuarial (gain) loss (438 ) 391 Benefits paid (315 ) (281 ) Projected benefit obligation, end of year $ 5,124 $ 5,576 Change in plan assets Plan assets at fair value, beginning of year $ 4,636 $ 4,012 Actual return on plan assets (233 ) 674 Company contributions 185 231 Benefits paid (315 ) (281 ) Plan assets at fair value, end of year $ 4,273 $ 4,636 Funded status $ (851 ) $ (940 ) Amount recorded as: Current liabilities $ (14 ) $ (16 ) Noncurrent liabilities (837 ) (924 ) $ (851 ) $ (940 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 152 $ 163 Prior service cost 5 6 $ 157 $ 169 Amounts recognized in Regulatory assets (a) Net actuarial loss $ 1,973 $ 2,014 Prior service credit (12 ) (14 ) $ 1,961 $ 2,000 ______________________________________ (a) See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." During 2018, DTE Energy contributed the following amounts of DTE Energy common stock to the DTE Energy Company Affiliates Employee Benefit Plans Master Trust: Date Number of Shares Price per Share Amount (In millions) March 7, 2018 1,751,401 $99.92 $ 175 The following table provides contributions to the qualified pension plans in: 2018 2017 2016 (In millions) DTE Energy $ 175 $ 223 $ 179 DTE Electric 175 185 145 |
Schedule of Net Benefit Costs | Net pension cost for DTE Energy includes the following components: 2018 2017 2016 (In millions) Service cost $ 99 $ 92 $ 92 Interest cost 202 214 219 Expected return on plan assets (329 ) (311 ) (309 ) Amortization of: Net actuarial loss 176 176 164 Prior service cost — 1 1 Net pension cost $ 148 $ 172 $ 167 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | 2018 2017 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial loss $ 125 $ 27 Amortization of net actuarial loss (176 ) (176 ) Prior service credit — (11 ) Amortization of prior service cost — (1 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (51 ) $ (161 ) Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 97 $ 11 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 $ 131 $ 178 Prior service cost $ 1 $ — |
Schedule of Expected Benefit Payments | At December 31, 2018 , 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) 2019 $ 311 2020 317 2021 317 2022 323 2023 332 2024-2028 1,713 Total $ 3,313 |
Schedule of Assumptions Used | Assumptions used in determining the projected benefit obligation and net pension costs of DTE Energy are: 2018 2017 2016 Projected benefit obligation Discount rate 4.40% 3.70% 4.25% Rate of compensation increase 4.98% 4.98% 4.65% Net pension costs Discount rate 3.70% 4.25% 4.50% Rate of compensation increase 4.98% 4.65% 4.65% Expected long-term rate of return on plan assets 7.50% 7.50% 7.75% |
Schedule of Allocation of Plan Assets | The following tables provide the fair value measurement amounts for DTE Energy's pension plan assets at December 31, 2018 and 2017 (a) : December 31, 2018 December 31, 2017 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total (In millions) DTE Energy asset category: Short-term Investments (c) $ — $ 27 $ — $ 27 $ — $ 114 $ — $ 114 Equity Securities U.S. Large Cap (d) 606 3 — 609 821 5 — 826 U.S. Small Cap and Mid Cap (e) 123 1 — 124 229 5 — 234 Non-U.S. (f) 337 9 240 586 529 13 280 822 Fixed Income Securities (g) 6 1,892 — 1,898 1 1,453 — 1,454 Hedge Funds and Similar Investments (h) 88 — 542 630 265 — 593 858 Private Equity and Other (i) — — 399 399 — — 328 328 Securities Lending (j) (22 ) (8 ) — (30 ) (53 ) (13 ) — (66 ) Securities Lending Collateral (j) 22 8 — 30 53 13 — 66 DTE Energy Total $ 1,160 $ 1,932 $ 1,181 $ 4,273 $ 1,845 $ 1,590 $ 1,201 $ 4,636 _______________________________________ (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 quoted 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 quoted 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 quoted 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, other governmental debt, 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. (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 real estate and private 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 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 DTE Energy's pension plan assets as of December 31, 2018 are listed below: U.S. Large Capitalization (Cap) Equity Securities 16 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 15 Fixed Income Securities 42 Hedge Funds and Similar Investments 15 Private Equity and Other 8 100 % |
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 2018 2017 2018 2017 (In millions) Change in accumulated postretirement benefit obligation Accumulated postretirement benefit obligation, beginning of year $ 1,910 $ 1,795 $ 1,470 $ 1,373 Service cost 27 27 20 20 Interest cost 69 73 53 56 Plan amendments (44 ) — (35 ) — Actuarial (gai n) loss (227 ) 101 (196 ) 84 Benefits paid (90 ) (86 ) (65 ) (63 ) Accumulated postretirement benefit obligation, end of year $ 1,645 $ 1,910 $ 1,247 $ 1,470 Change in plan assets Plan assets at fair value, beginning of year $ 1,848 $ 1,758 $ 1,272 $ 1,218 Actual return on plan assets (75 ) 252 (52 ) 172 Benefits paid (84 ) (162 ) (62 ) (118 ) Plan assets at fair value, end of year $ 1,689 $ 1,848 $ 1,158 $ 1,272 Funded status $ 44 $ (62 ) $ (89 ) $ (198 ) Amount recorded as: Noncurrent assets $ 45 $ — $ 189 $ 113 Current liabilities (1 ) (1 ) — — Noncurrent liabilities — (61 ) (278 ) (311 ) $ 44 $ (62 ) $ (89 ) $ (198 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial (gain) loss $ 1 $ (1 ) $ — $ — $ 1 $ (1 ) $ — $ — Amounts recognized in Regulatory assets (a) Net actuarial loss $ 257 $ 279 $ 156 $ 211 Prior service credit (44 ) (1 ) (35 ) — $ 213 $ 278 $ 121 $ 211 ______________________________________ (a) See Note 9 to the Consolidated Financial Statements, " Regulatory Matters ." |
Schedule of Net Benefit Costs | Net other postretirement credit for DTE Energy includes the following components: 2018 2017 2016 (In millions) Service cost $ 27 $ 27 $ 27 Interest cost 69 73 80 Expected return on plan assets (143 ) (130 ) (129 ) Amortization of: Net actuarial loss 11 13 30 Prior service credit — (14 ) (118 ) Other — — (1 ) Net other postretirement credit $ (36 ) $ (31 ) $ (111 ) Net other postretirement credit for DTE Electric includes the following components: 2018 2017 2016 (In millions) Service cost $ 20 $ 20 $ 20 Interest cost 53 56 61 Expected return on plan assets (98 ) (90 ) (90 ) Amortization of: Net actuarial loss 8 8 21 Prior service credit — (10 ) (89 ) Net other postretirement credit $ (17 ) $ (16 ) $ (77 ) |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | 2018 2017 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets Net actuarial (gai n) loss $ (46 ) $ 2 Amortization of net actuarial loss (8 ) (8 ) Amortization of prior service (cost) credit (35 ) 10 Total recognized in Regulatory assets $ (89 ) $ 4 Total recognized in net periodic benefit cost and Regulatory assets $ (106 ) $ (12 ) Estimated amounts to be amortized from Regulatory assets into net periodic benefit cost during next fiscal year Net actuarial loss $ 5 $ 8 Prior service credit $ (7 ) $ — 2018 2017 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial gain $ (8 ) $ (21 ) Amortization of net actuarial loss (11 ) (13 ) Prior service credit (44 ) (1 ) Amortization of prior service credit — 14 Total recognized in Regulatory assets and Other comprehensive income (loss) $ (63 ) $ (21 ) Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (99 ) $ (52 ) 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 $ 12 $ 11 Prior service credit $ (9 ) $ (1 ) |
Schedule of Expected Benefit Payments | At December 31, 2018 , 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) 2019 $ 88 $ 66 2020 92 70 2021 96 73 2022 100 75 2023 102 77 2024-2028 532 402 Total $ 1,010 $ 763 |
Schedule of Assumptions Used | Assumptions used in determining the accumulated postretirement benefit obligation and net other postretirement benefit costs of the Registrants are: 2018 2017 2016 Accumulated postretirement benefit obligation Discount rate 4.40% 3.70% 4.25% Health care trend rate pre- and post- 65 6.75 / 7.25% 6.75 / 7.25% 6.50 / 6.75% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2031 2030 2028 Other postretirement benefit costs Discount rate 3.70% 4.25% 4.50% Expected long-term rate of return on plan assets 7.75% 7.75% 8.00% 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 |
Schedule of Allocation of Plan Assets | Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2018 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 19 Fixed Income Securities 28 Hedge Funds and Similar Investments 19 Private Equity and Other 14 100 % Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2018 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 19 Fixed Income Securities 28 Hedge Funds and Similar Investments 19 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, 2018 and 2017 (a) : December 31, 2018 December 31, 2017 Level 1 Level 2 Other (b) Total Level 1 Level 2 Other (b) Total DTE Energy asset category: (In millions) Short-term Investments (c) $ 14 $ 2 $ — $ 16 $ 13 $ 2 $ — $ 15 Equity Securities U.S. Large Cap (d) 225 — — 225 284 — — 284 U.S. Small Cap and Mid Cap (e) 75 — — 75 131 — — 131 Non-U.S. (f) 234 — 67 301 288 1 77 366 Fixed Income Securities (g) 11 350 130 491 29 324 130 483 Hedge Funds and Similar Investments (h) 97 — 203 300 116 — 219 335 Private Equity and Other (i) — — 281 281 — — 234 234 Securities Lending (j) (21 ) (1 ) — (22 ) (39 ) (1 ) — (40 ) Securities Lending Collateral (j) 21 1 — 22 39 1 — 40 DTE Energy Total $ 656 $ 352 $ 681 $ 1,689 $ 861 $ 327 $ 660 $ 1,848 DTE Electric asset category: Short-term Investments (c) $ 10 $ 1 $ — $ 11 $ 9 $ 1 $ — $ 10 Equity Securities U.S. Large Cap (d) 154 — — 154 195 — — 195 U.S. Small Cap and Mid Cap (e) 52 — — 52 91 — — 91 Non-U.S. (f) 163 — 45 208 200 1 52 253 Fixed Income Securities (g) 7 232 92 331 20 218 92 330 Hedge Funds and Similar Investments (h) 68 — 139 207 80 — 150 230 Private Equity and Other (i) — — 195 195 — — 163 163 Securities Lending (j) (15 ) — — (15 ) (27 ) (1 ) — (28 ) Securities Lending Collateral (j) 15 — — 15 27 1 — 28 DTE Electric Total $ 454 $ 233 $ 471 $ 1,158 $ 595 $ 220 $ 457 $ 1,272 _______________________________________ (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 quoted 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 quoted 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 quoted 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, other governmental debt, 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 real estate and private 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. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation [Abstract] | |
Schedule of Components of Stock-Based Compensation | The following table summarizes the components of stock-based compensation for DTE Energy: 2018 2017 2016 (In millions) Stock-based compensation expense $ 64 $ 58 $ 61 Tax benefit $ 13 $ 23 $ 24 Stock-based compensation cost capitalized in Property, plant, and equipment $ 11 $ 9 $ 10 |
Schedule of Stock-based Compensation, Stock Options, Activity | The following table summarizes DTE Energy's stock option activity for the year ended December 31, 2018 : Number of Options Weighted Average Exercise Price Aggregate Intrinsic Options outstanding and exercisable at December 31, 2017 105,994 $ 42.95 Exercised (53,894 ) $ 42.62 Options outstanding and exercisable at December 31, 2018 52,100 $ 43.30 $ 4 |
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, 2018 were as follows: Range of Exercise Prices Number of Options Weighted Average Weighted Average $ 27.00 — $ 38.00 2,100 $ 27.70 0.16 $ 42.01 — $ 45.00 50,000 $ 43.95 1.15 52,100 $ 43.30 1.11 |
Schedule of Stock-based Compensation, Stock Award Activity | Stock award activity for DTE Energy for the years ended December 31 was: 2018 2017 2016 Fair value of awards vested (in millions) $ 11 $ 10 $ 9 Restricted common shares awarded 109,393 136,825 145,240 Weighted average market price of shares awarded $ 105.80 $ 99.53 $ 87.28 Compensation cost charged against income (in millions) $ 11 $ 11 $ 11 |
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, 2018 : Restricted Weighted Average Balance at December 31, 2017 365,764 $ 90.26 Grants 109,393 $ 105.80 Forfeitures (21,939 ) $ 98.59 Vested and issued (125,813 ) $ 85.24 Balance at December 31, 2018 327,405 $ 96.79 |
Stock-based Compensation Expense | DTE Energy recorded compensation expense for performance share awards as follows: 2018 2017 2016 (In millions) Compensation expense $ 53 $ 47 $ 50 Cash settlements (a) $ 13 $ 15 $ 7 Stock settlements (a) $ 39 $ 66 $ 38 _______________________________________ (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, 2018 : Performance Shares Weighted Average Balance at December 31, 2017 1,324,401 $ 90.31 Grants 437,508 $ 105.64 Forfeitures (56,435 ) $ 96.02 Payouts (418,788 ) $ 84.84 Balance at December 31, 2018 1,286,686 $ 97.17 |
Schedule of Unrecognized Compensation Cost, Non-Vested Awards | As of December 31, 2018 , 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 $ 12 1.03 Performance shares 59 1.04 $ 71 1.04 |
Segment and Related Informati_2
Segment and Related Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 2017 2016 (In millions) Electric $ 52 $ 48 $ 43 Gas 12 8 9 Gas Storage and Pipelines 36 42 9 Power and Industrial Projects 642 569 602 Energy Trading 27 35 39 Corporate and Other 2 2 2 $ 771 $ 704 $ 704 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) 2018 Operating Revenues — Utility operations $ 5,298 1,436 — — — — (64 ) $ 6,670 Operating Revenues — Non-utility operations $ — — 485 2,204 5,557 3 (707 ) $ 7,542 Depreciation and amortization $ 836 133 82 67 5 1 — $ 1,124 Interest expense $ 283 70 68 31 6 220 (119 ) $ 559 Interest income $ — (6 ) (9 ) (9 ) (3 ) (104 ) 119 $ (12 ) Equity in earnings of equity method investees $ — 2 123 3 — 4 — $ 132 Income Tax Expense (Benefit) $ 193 67 68 (195 ) 13 (48 ) — $ 98 Net Income (Loss) Attributable to DTE Energy Company $ 664 150 235 161 39 (129 ) — $ 1,120 Investment in equity method investees $ 7 12 1,585 134 — 33 — $ 1,771 Capital expenditures and acquisitions $ 1,979 460 176 91 5 2 — $ 2,713 Goodwill $ 1,208 743 299 26 17 — — $ 2,293 Total Assets $ 22,501 5,378 3,161 495 909 6,153 (2,309 ) $ 36,288 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) $ 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 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Transactions With Affiliated Companies | See the following notes for other related party transactions impacting DTE Electric’s Consolidated Financial Statements: Note Title 1 Organization and Basis of Presentation 20 Retirement Benefits and Trusteed Assets 21 Stock-Based Compensation The following is a summary of DTE Electric's transactions with affiliated companies: 2018 2017 2016 (In millions) Revenues Energy sales $ 9 $ 9 $ 10 Other services $ (4 ) $ (4 ) $ (1 ) Shared capital assets $ 43 $ 39 $ 33 Costs Fuel and purchased power $ 7 $ 6 $ 10 Other services and interest $ 33 $ (2 ) $ (1 ) Corporate expenses, net $ 377 $ 370 $ 370 Other Dividends declared $ 461 $ 432 $ 420 Dividends paid $ 461 $ 432 $ 420 Capital contribution from DTE Energy $ 325 $ 100 $ 120 |
Supplementary Quarterly Finan_2
Supplementary Quarterly Financial Information (Unaudited ) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 Operating Revenues $ 3,753 $ 3,159 $ 3,550 $ 3,750 $ 14,212 Operating Income $ 504 $ 329 $ 429 $ 332 $ 1,594 Net Income Attributable to DTE Energy Company $ 361 $ 234 $ 334 $ 191 $ 1,120 Basic Earnings per Share $ 2.01 $ 1.29 $ 1.84 $ 1.05 $ 6.18 Diluted Earnings per Share $ 2.00 $ 1.29 $ 1.84 $ 1.05 $ 6.17 2017 Operating Revenues $ 3,236 $ 2,855 $ 3,245 $ 3,271 $ 12,607 Operating Income (a) $ 585 $ 320 $ 434 $ 372 $ 1,711 Net Income Attributable to DTE Energy Company (b) $ 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 _____________________________________ (a) Pursuant to the implementation of ASU 2017-07, amounts previously included in Operating Income — Operation and maintenance were reclassified to Other (Income) and Deductions — Non-operating retirement benefits, net on DTE Energy's Consolidated Statements of Operations. (b) 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) 2018 Operating Revenues $ 1,205 $ 1,276 $ 1,521 $ 1,296 $ 5,298 Operating Income $ 253 $ 269 $ 444 $ 168 $ 1,134 Net Income $ 140 $ 163 $ 305 $ 56 $ 664 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 |
Organization and Basis of Pre_3
Organization and Basis of Presentation (Details) customer in Millions | Dec. 31, 2018USD ($)customer | Dec. 31, 2017USD ($) | 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 | 59,000,000 | $ 72,000,000 | |
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% | ||
SGG | Midstream Natural Gas Assets | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Percentage of voting interests acquired | 55.00% | 55.00% |
Organization and Basis of Pre_4
Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
ASSETS | |||
Cash and cash equivalents | $ 71 | $ 66 | |
Restricted cash | 5 | 23 | |
Accounts receivable | 1,789 | 1,758 | |
Property, plant, and equipment, net | 21,650 | 20,721 | |
Goodwill | 2,293 | 2,293 | $ 2,286 |
Intangible assets | 828 | 842 | |
Total Assets | 36,288 | 33,767 | $ 32,041 |
LIABILITIES | |||
Current portion long-term debt, including capital leases | 1,499 | 109 | |
Mortgage bonds, notes, and other | 10,982 | 11,039 | |
Variable interest entity, primary beneficiary, restricted | |||
ASSETS | |||
Cash and cash equivalents | 39 | 37 | |
Restricted cash | 5 | 8 | |
Accounts receivable | 46 | 53 | |
Inventories | 93 | 117 | |
Property, plant, and equipment, net | 441 | 475 | |
Goodwill | 25 | 25 | |
Intangible assets | 557 | 572 | |
Other current and long-term assets | 3 | 4 | |
Total Assets | 1,209 | 1,291 | |
LIABILITIES | |||
Accounts payable and accrued current liabilities | 34 | 73 | |
Current portion long-term debt, including capital leases | 0 | 4 | |
Mortgage bonds, notes, and other | 0 | 1 | |
Other current and long-term liabilities | 19 | 17 | |
Total liabilities | 53 | 95 | |
SGG | |||
ASSETS | |||
Cash and cash equivalents | 25 | 23 | |
Restricted cash | 0 | 0 | |
Accounts receivable | 9 | 11 | |
Inventories | 1 | 3 | |
Property, plant, and equipment, net | 395 | 400 | |
Goodwill | 25 | 25 | |
Intangible assets | 557 | 572 | |
Other current and long-term assets | 3 | 4 | |
Total Assets | 1,015 | 1,038 | |
LIABILITIES | |||
Accounts payable and accrued current liabilities | 3 | 26 | |
Current portion long-term debt, including capital leases | 0 | 0 | |
Mortgage bonds, notes, and other | 0 | 0 | |
Other current and long-term liabilities | 9 | 1 | |
Total liabilities | $ 12 | 27 | |
VIE percentage | 100.00% | ||
VIE ownership percentage | 55.00% | ||
Other | |||
ASSETS | |||
Cash and cash equivalents | $ 14 | 14 | |
Restricted cash | 5 | 8 | |
Accounts receivable | 37 | 42 | |
Inventories | 92 | 114 | |
Property, plant, and equipment, net | 46 | 75 | |
Goodwill | 0 | 0 | |
Intangible assets | 0 | 0 | |
Other current and long-term assets | 0 | 0 | |
Total Assets | 194 | 253 | |
LIABILITIES | |||
Accounts payable and accrued current liabilities | 31 | 47 | |
Current portion long-term debt, including capital leases | 0 | 4 | |
Mortgage bonds, notes, and other | 0 | 1 | |
Other current and long-term liabilities | 10 | 16 | |
Total liabilities | $ 41 | $ 68 |
Organization and Basis of Pre_5
Organization and Basis of Presentation (Non-Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Variable Interest Entity [Line Items] | |||
Investments in equity method investees | $ 1,771 | $ 1,073 | $ 752 |
Notes receivable | 64 | 73 | |
Variable interest entity, nonconsolidated | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method investees | 1,425 | 811 | |
Notes receivable | 15 | 17 | |
Future funding commitments | $ 55 | $ 598 |
Organization and Basis of Pre_6
Organization and Basis of Presentation (Equity Method Investees) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 1,771 | $ 1,073 | $ 752 |
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 | $ 1,585 | 879 | |
Gas Storage and Pipelines | NEXUS Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 1,260 | $ 640 | |
Percent Owned | 50.00% | 50.00% | |
Gas Storage and Pipelines | Vector Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 123 | $ 115 | |
Percent Owned | 40.00% | 40.00% | |
Gas Storage and Pipelines | Millennium Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 202 | $ 124 | |
Percent Owned | 26.00% | 26.00% | |
Other Segments | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments | $ 186 | $ 194 |
Organization and Basis of Pre_7
Organization and Basis of Presentation (Summarized Balance Sheet Data) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Current Assets | $ 358 | $ 344 |
Non-current assets | 5,101 | 3,576 |
Current Liabilities | 391 | 345 |
Non-current liabilities | $ 762 | $ 858 |
Organization and Basis of Pre_8
Organization and Basis of Presentation (Summarized Income Statement Data) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Operating Revenues | $ 883 | $ 756 | $ 767 |
Operating Expenses | 622 | 561 | 526 |
Net Income | $ 365 | $ 254 | $ 225 |
Significant Accounting Polici_4
Significant Accounting Policies (Schedule of Other Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Other Nonoperating Income, by Component [Line Items] | |||
Equity in earnings of equity method investees | $ 132 | $ 102 | $ 68 |
Income from REF entities | 98 | 77 | 75 |
Contract services | 51 | 19 | 21 |
Allowance for equity funds used during construction | 28 | 23 | 21 |
Gains from trading securities | 6 | 26 | 15 |
Other | 18 | 21 | 7 |
Other income | 333 | 268 | 207 |
DTE Electric | |||
Schedule of Other Nonoperating Income, by Component [Line Items] | |||
Contract services | 51 | 21 | 20 |
Allowance for equity funds used during construction | 19 | 18 | 18 |
Gains from trading securities | 6 | 26 | 15 |
Other | 7 | 12 | 8 |
Other income | $ 83 | $ 77 | $ 61 |
Significant Accounting Polici_5
Significant Accounting Policies (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | $ 9,990 | $ 9,499 | $ 8,795 | |
Net current-period Other comprehensive income (loss) | 5 | 13 | 12 | |
Ending balance | 10,717 | 9,990 | 9,499 | |
AOCI including portion attributable to noncontrolling interest | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (120) | (133) | ||
Implementation of ASU 2016-01 | $ (5) | |||
Other comprehensive income (loss) before reclassifications | (5) | (1) | ||
Amounts reclassified from Accumulated other comprehensive income | 10 | 14 | ||
Net current-period Other comprehensive income (loss) | 0 | 13 | ||
Ending balance | (120) | (120) | (133) | |
Net Unrealized Gain (Loss) on Derivatives | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (3) | (4) | ||
Implementation of ASU 2016-01 | (7) | |||
Other comprehensive income (loss) before reclassifications | (2) | 0 | ||
Amounts reclassified from Accumulated other comprehensive income | 1 | 1 | ||
Net current-period Other comprehensive income (loss) | (8) | 1 | ||
Ending balance | (11) | (3) | (4) | |
Net Unrealized Gain (Loss) on Investments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (2) | (3) | ||
Implementation of ASU 2016-01 | 2 | |||
Other comprehensive income (loss) before reclassifications | 0 | 1 | ||
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | ||
Net current-period Other comprehensive income (loss) | 2 | 1 | ||
Ending balance | 0 | (2) | (3) | |
Benefit Obligations | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (110) | (120) | ||
Implementation of ASU 2016-01 | 0 | |||
Other comprehensive income (loss) before reclassifications | (1) | (3) | ||
Amounts reclassified from Accumulated other comprehensive income | 9 | 13 | ||
Net current-period Other comprehensive income (loss) | 8 | 10 | ||
Ending balance | (102) | (110) | (120) | |
Foreign Currency Translation | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning balance | (5) | (6) | ||
Implementation of ASU 2016-01 | $ 0 | |||
Other comprehensive income (loss) before reclassifications | (2) | 1 | ||
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | ||
Net current-period Other comprehensive income (loss) | (2) | 1 | ||
Ending balance | (7) | (5) | (6) | |
DTE Electric | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Net current-period Other comprehensive income (loss) | $ 0 | $ 1 | $ 0 |
Significant Accounting Polici_6
Significant Accounting Policies (Cash and Restricted Cash) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 71 | $ 66 | ||
Restricted cash | 5 | 23 | ||
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows | $ 76 | $ 89 | $ 113 | $ 60 |
Significant Accounting Polici_7
Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Significant Accounting Policies [Line Items] | |||
Specific review of probable future collections based on receivable balances in excess of 90 days | 30 days | ||
Unbilled revenues | $ 1,789,000,000 | $ 1,758,000,000 | |
Regulatory liabilities | $ 3,048,000,000 | 2,893,000,000 | |
Property maintenance accrual period | 18 months | ||
Amortization of intangible assets | $ 27,000,000 | 29,000,000 | $ 16,000,000 |
Excise and sales taxes net impact on statement of operations | 0 | ||
Charitable contributions | 22,000,000 | 43,000,000 | $ 26,000,000 |
Fermi 2 refueling outage | |||
Significant Accounting Policies [Line Items] | |||
Regulatory liabilities | 4,000,000 | 15,000,000 | |
Natural gas inventory | |||
Significant Accounting Policies [Line Items] | |||
LIFO inventory amount | 48,000,000 | 29,000,000 | |
Excess of replacement costs over stated LIFO value | $ 113,000,000 | 81,000,000 | |
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 | $ 750,000,000 | 791,000,000 | |
Regulatory liabilities | 2,269,000,000 | 2,154,000,000 | |
DTE Electric | Fermi 2 refueling outage | |||
Significant Accounting Policies [Line Items] | |||
Regulatory liabilities | 4,000,000 | 15,000,000 | |
Unbilled revenues | |||
Significant Accounting Policies [Line Items] | |||
Unbilled revenues | 1,000,000,000 | 1,000,000,000 | |
Unbilled revenues | DTE Electric | |||
Significant Accounting Policies [Line Items] | |||
Unbilled revenues | $ 264,000,000 | $ 290,000,000 |
Significant Accounting Polici_8
Significant Accounting Policies (Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross carrying value | $ 938 | $ 938 |
Accumulated Amortization | (110) | (96) |
Finite-lived intangible assets, net carrying value | 828 | 842 |
Intangible assets, gross carrying value | 959 | 963 |
Intangible assets, net carrying value | 849 | 867 |
DTE Electric | ||
Finite-Lived Intangible Assets [Line Items] | ||
Accumulated Amortization | 0 | 0 |
Intangible assets, gross carrying value | 21 | 25 |
Intangible assets, net carrying value | 21 | 25 |
Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets | 21 | 25 |
DTE Electric renewable energy credits | DTE Electric | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets | 20 | 24 |
DTE Electric emission allowances | DTE Electric | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets | 1 | 1 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross carrying value | 779 | 770 |
Accumulated Amortization | (44) | (24) |
Finite-lived intangible assets, net carrying value | $ 735 | 746 |
Customer relationships | Minimum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 25 years | |
Customer relationships | Maximum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 40 years | |
Contract intangibles | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross carrying value | $ 159 | 168 |
Accumulated Amortization | (66) | (72) |
Finite-lived intangible assets, net carrying value | $ 93 | $ 96 |
Contract intangibles | Minimum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 6 years | |
Contract intangibles | Maximum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 26 years |
Significant Accounting Polici_9
Significant Accounting Policies (Future Amortization Expense Intangible Assets) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Estimated amortization expense | |
2,019 | $ 27 |
2,020 | 26 |
2,021 | 25 |
2,022 | 25 |
2,023 | $ 25 |
New Accounting Pronouncements
New Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Jan. 01, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
True-up adjustment to the remeasurement of deferred taxes | $ 21 | |
Regulatory Liabilities | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
True-up adjustment to the remeasurement of deferred taxes | 17 | |
DTE Electric | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
True-up adjustment to the remeasurement of deferred taxes | $ 7 | |
Accounting Standards Update 2016-01 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Implementation of ASU 2016-09 | $ 0 | |
Accounting Standards Update 2016-01 | DTE Electric | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Implementation of ASU 2016-09 | 0 | |
Accumulated Other Comprehensive Income (Loss) | Accounting Standards Update 2016-01 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Implementation of ASU 2016-09 | (5) | |
Accumulated Other Comprehensive Income (Loss) | Accounting Standards Update 2016-01 | DTE Electric | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Implementation of ASU 2016-09 | (3) | |
Retained Earnings | Accounting Standards Update 2016-01 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Implementation of ASU 2016-09 | 5 | |
Retained Earnings | Accounting Standards Update 2016-01 | DTE Electric | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Implementation of ASU 2016-09 | $ 3 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | $ 3,750 | $ 3,550 | $ 3,159 | $ 3,753 | $ 3,271 | $ 3,245 | $ 2,855 | $ 3,236 | $ 14,212 | $ 12,607 | $ 10,630 |
Electric | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 5,298 | ||||||||||
Electric | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 20 | ||||||||||
Electric | Alternative Revenue Programs | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 21 | ||||||||||
Electric | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 2,494 | ||||||||||
Electric | Commercial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 1,794 | ||||||||||
Electric | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 690 | ||||||||||
Electric | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 320 | ||||||||||
Gas | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 1,436 | ||||||||||
Gas | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 7 | ||||||||||
Gas | Alternative Revenue Programs | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 2 | ||||||||||
Gas | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 91 | ||||||||||
Gas | Gas sales | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 1,055 | ||||||||||
Gas | End User Transportation | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 232 | ||||||||||
Gas | Intermediate Transportation | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 58 | ||||||||||
Gas Storage and Pipelines | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 485 | ||||||||||
Power and Industrial Projects | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 2,204 | ||||||||||
Lease revenue outside scope of Topic 606 | 125 | ||||||||||
Energy Trading | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 5,557 | ||||||||||
Gain (loss) on derivative outside scope of Topic 606 | $ 4,500 |
Revenue - Narrative (Details)
Revenue - Narrative (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Revenue from External Customer [Line Items] | |
Charges related to expense recognized for estimated uncollectible accounts receivable | $ 140 |
DTE Electric | |
Revenue from External Customer [Line Items] | |
Charges related to expense recognized for estimated uncollectible accounts receivable | $ 85 |
Other | Power and Industrial Projects | |
Revenue from External Customer [Line Items] | |
Payment terms | 30 days |
Revenue - Deferred Revenue (Det
Revenue - Deferred Revenue (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Contract Liability [Roll Forward] | |
Beginning Balance | $ 56 |
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period | 48 |
Revenue recognized that was included in the deferred revenue balance at the beginning of the period | (30) |
Ending Balance | $ 74 |
Revenue - Expected Recognition
Revenue - Expected Recognition of Deferred Revenue (Details) $ in Millions | Dec. 31, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 46 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 1 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 5 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 7 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 5 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 10 |
Remaining performance obligation, expected timing of satisfaction | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 74 |
Revenue - Expected Timing of Pe
Revenue - Expected Timing of Performance Obligation Satisfaction (Details) $ in Millions | Dec. 31, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 46 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | Fixed Consideration | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 267 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | Fixed Consideration | DTE Electric | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 8 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 1 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Fixed Consideration | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 263 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Fixed Consideration | DTE Electric | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 0 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 5 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Fixed Consideration | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 219 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Fixed Consideration | DTE Electric | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 0 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 7 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Fixed Consideration | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 172 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Fixed Consideration | DTE Electric | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 0 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 5 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Fixed Consideration | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 139 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Fixed Consideration | DTE Electric | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 0 |
Remaining performance obligation, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 10 |
Remaining performance obligation, expected timing of satisfaction | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Fixed Consideration | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 658 |
Remaining performance obligation, expected timing of satisfaction | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Fixed Consideration | DTE Electric | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 0 |
Remaining performance obligation, expected timing of satisfaction | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 74 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Fixed Consideration | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | 1,718 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Fixed Consideration | DTE Electric | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 8 |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Roll Forward] | ||
Balance as of January 1 | $ 2,293 | $ 2,286 |
Goodwill attributable to Gas Storage and Pipelines 2016 acquisition of AGS and SGG | 0 | 7 |
Balance at December 31 | $ 2,293 | $ 2,293 |
Property, Plant, and Equipmen_2
Property, Plant, and Equipment (Summary of Property by Classification) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | $ 31,810 | $ 31,424 |
Accumulated depreciation and amortization | (10,160) | (10,703) |
Net property, plant, and equipment | 21,650 | 20,721 |
Non-utility and other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 3,488 | 3,278 |
Accumulated depreciation and amortization | (998) | (938) |
DTE Electric | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 22,747 | 22,972 |
Accumulated depreciation and amortization | (7,310) | (7,984) |
Net property, plant, and equipment | 15,437 | 14,988 |
DTE Electric | Generation | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 11,027 | 12,166 |
Accumulated depreciation and amortization | (3,609) | (4,403) |
DTE Electric | Distribution | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 9,153 | 8,637 |
Accumulated depreciation and amortization | (2,974) | (2,914) |
DTE Electric | Other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 2,567 | 2,169 |
Accumulated depreciation and amortization | (727) | (667) |
DTE Gas | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 5,575 | 5,174 |
Accumulated depreciation and amortization | (1,852) | (1,781) |
DTE Gas | Distribution | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 3,823 | 3,523 |
Accumulated depreciation and amortization | (1,283) | (1,238) |
DTE Gas | Storage | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 548 | 533 |
Accumulated depreciation and amortization | (165) | (159) |
DTE Gas | Transmission and other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 1,204 | 1,118 |
Accumulated depreciation and amortization | $ (404) | $ (384) |
Property, Plant, and Equipmen_3
Property, Plant, and Equipment (Schedule of Interest Costs Capitalized) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant, and Equipment [Line Items] | ||
Allowance for debt funds used during construction and interest capitalized | $ 15 | $ 13 |
Allowance for equity funds used during construction | 28 | 23 |
Total | 43 | 36 |
DTE Electric | ||
Property, Plant, and Equipment [Line Items] | ||
Allowance for debt funds used during construction and interest capitalized | 9 | 8 |
Allowance for equity funds used during construction | 19 | 18 |
Total | $ 28 | $ 26 |
Property, Plant, and Equipmen_4
Property, Plant, and Equipment (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | 1 year | ||
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 | 3 years | ||
DTE Electric | Minimum | Capitalized software | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 3 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 | 3.70% | 3.60% | 3.50% |
DTE Gas | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Composite depreciation rate for plants in service | 2.70% | 2.70% | 2.40% |
Property, Plant, and Equipmen_5
Property, Plant, and Equipment (Average Estimated Useful Life of Each Major Class) (Details) | 12 Months Ended |
Dec. 31, 2018 | |
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 Equipmen_6
Property, Plant, and Equipment (Depreciation and Amortization) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant, and Equipment [Line Items] | |||
Property, plant, and equipment | $ 912 | $ 865 | $ 783 |
Regulatory assets and liabilities | 212 | 165 | 193 |
Depreciation and amortization | 1,124 | 1,030 | 976 |
DTE Electric | |||
Property, Plant, and Equipment [Line Items] | |||
Property, plant, and equipment | 657 | 620 | 582 |
Regulatory assets and liabilities | 179 | 133 | 168 |
Depreciation and amortization | $ 836 | $ 753 | $ 750 |
Property, Plant, and Equipmen_7
Property, Plant, and Equipment (Capitalized Software) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant, and Equipment [Line Items] | |||
Amortization expense of capitalized software | $ 108 | $ 101 | $ 89 |
Gross carrying value of capitalized software | 905 | 890 | |
Accumulated amortization of capitalized software | 534 | 500 | |
DTE Electric | |||
Property, Plant, and Equipment [Line Items] | |||
Amortization expense of capitalized software | 101 | 93 | $ 83 |
Gross carrying value of capitalized software | 799 | 774 | |
Accumulated amortization of capitalized software | $ 463 | $ 423 |
Property, Plant, and Equipmen_8
Property, Plant, and Equipment (Operating Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Abstract] | ||
Gross property under operating leases | $ 447 | $ 327 |
Accumulated amortization of property under operating leases | $ 148 | $ 108 |
Property, Plant, and Equipmen_9
Property, Plant, and Equipment (Capital Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Capital Leased Assets [Line Items] | ||
Gross property under capital leases | $ 18 | $ 44 |
Accumulated amortization of property under capital leases | 7 | 38 |
DTE Electric | ||
Capital Leased Assets [Line Items] | ||
Gross property under capital leases | 18 | 18 |
Accumulated amortization of property under capital leases | $ 7 | $ 12 |
Jointly-Owned Utility Plant (De
Jointly-Owned Utility Plant (Details) | Dec. 31, 2018plant |
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% |
DTE Electric | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Number of power plants owned | 2 |
Jointly-Owned Utility Plant (Ow
Jointly-Owned Utility Plant (Ownership Information) (Details) - DTE Electric $ in Millions | Dec. 31, 2018USD ($) |
Belle River | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 81.00% |
Investment in Property, plant, and equipment (in millions) | $ 1,819 |
Accumulated depreciation (in millions) | $ 1,068 |
Ludington Hydroelectric Pumped Storage | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 49.00% |
Investment in Property, plant, and equipment (in millions) | $ 586 |
Accumulated depreciation (in millions) | $ 187 |
Asset Retirement Obligations (R
Asset Retirement Obligations (Rollforward) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Asset retirement obligations at December 31, 2017 | $ 2,320 |
Accretion | 140 |
Liabilities incurred | 27 |
Liabilities settled | (16) |
Revision in estimated cash flows | (2) |
Asset retirement obligations at December 31, 2018 | 2,469 |
DTE Electric | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Asset retirement obligations at December 31, 2017 | 2,125 |
Accretion | 129 |
Liabilities incurred | 27 |
Liabilities settled | (8) |
Revision in estimated cash flows | (2) |
Asset retirement obligations at December 31, 2018 | $ 2,271 |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details) - Fermi 2 | Dec. 31, 2018USD ($) |
Asset Retirement Obligations [Line Items] | |
Nuclear decommissioning liabilities funded through surcharge and included in ARO balance | $ 2,000,000,000 |
Liabilities balance upon completion of decommissioning | $ 0 |
Regulatory Matters (Schedule of
Regulatory Matters (Schedule of Regulatory Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 4,721 | $ 3,778 |
Less amount included in Current Assets | (153) | (55) |
Regulatory assets, noncurrent | 4,568 | 3,723 |
Pension | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,961 | 2,000 |
Other postretirement costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 213 | 278 |
Asset retirement obligation | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 778 | 569 |
Recoverable undepreciated costs on retiring plants | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 630 | 0 |
Removal costs asset | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 407 | 299 |
Recoverable Michigan income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 201 | 213 |
Accrued PSCR/GCR revenue | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 116 | 17 |
Deferred environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 69 | 75 |
Unamortized loss on reacquired debt | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 60 | 65 |
Recoverable income taxes related to AFUDC equity | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 51 | 41 |
Energy Waste Reduction incentive | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 49 | 39 |
Nuclear Performance Evaluation and Review Committee Tracker | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 43 | 22 |
Customer360 deferred costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 42 | 45 |
Other recoverable income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 23 | 26 |
Transitional Reconciliation Mechanism | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 21 | 46 |
Other | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 57 | 43 |
DTE Electric | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 3,977 | 3,055 |
Less amount included in Current Assets | (148) | (50) |
Regulatory assets, noncurrent | 3,829 | 3,005 |
DTE Electric | Pension | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,476 | 1,502 |
DTE Electric | Other postretirement costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 121 | 211 |
DTE Electric | Asset retirement obligation | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 778 | 569 |
DTE Electric | Recoverable undepreciated costs on retiring plants | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 630 | 0 |
DTE Electric | Removal costs asset | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 407 | 299 |
DTE Electric | Recoverable Michigan income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 161 | 171 |
DTE Electric | Accrued PSCR/GCR revenue | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 116 | 17 |
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 | 43 | 46 |
DTE Electric | Recoverable income taxes related to AFUDC equity | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 41 | 35 |
DTE Electric | Energy Waste Reduction incentive | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 39 | 30 |
DTE Electric | Nuclear Performance Evaluation and Review Committee Tracker | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 43 | 22 |
DTE Electric | Customer360 deferred costs | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 42 | 45 |
DTE Electric | Other recoverable income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 23 | 26 |
DTE Electric | Transitional Reconciliation Mechanism | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 21 | 46 |
DTE Electric | Other | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 36 | $ 36 |
Regulatory Matters (Schedule _2
Regulatory Matters (Schedule of Regulatory Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 3,048 | $ 2,893 |
Less amount included in Current Liabilities | (126) | (18) |
Regulatory liabilities, noncurrent | 2,922 | 2,875 |
Refundable federal income taxes | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 2,410 | 2,384 |
Removal costs liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 253 | 265 |
TCJA rate reduction liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 118 | 0 |
Negative other postretirement offset | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 101 | 80 |
Renewable energy | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 86 | 112 |
Refundable self-implemented rates | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 26 | 2 |
Negative pension offset | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 9 | 21 |
Fermi 2 refueling outage | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 4 | 15 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 41 | 14 |
DTE Electric | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 2,269 | 2,154 |
Less amount included in Current Liabilities | (98) | (17) |
Regulatory liabilities, noncurrent | 2,171 | 2,137 |
DTE Electric | Refundable federal income taxes | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 1,958 | 1,946 |
DTE Electric | Removal costs liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 0 |
DTE Electric | TCJA rate reduction liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 93 | 0 |
DTE Electric | Negative other postretirement offset | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 79 | 67 |
DTE Electric | Renewable energy | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 86 | 112 |
DTE Electric | Refundable self-implemented rates | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 26 | 2 |
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 | 4 | 15 |
DTE Electric | Other | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 23 | $ 12 |
Regulatory Matters (Details)
Regulatory Matters (Details) $ in Millions | Dec. 20, 2018USD ($) | Dec. 06, 2018 | Dec. 05, 2018 | Nov. 16, 2018USD ($) | Sep. 21, 2018USD ($) | Sep. 13, 2018USD ($) | Jul. 30, 2018USD ($) | Jul. 24, 2018USD ($) | Jul. 06, 2018USD ($) | Jun. 28, 2018USD ($) | May 30, 2018USD ($) | May 24, 2018USD ($) | May 18, 2018USD ($) | Apr. 18, 2018USD ($) | Mar. 28, 2018USD ($) | Nov. 22, 2017USD ($) | Nov. 01, 2017USD ($) | Apr. 19, 2017USD ($) | Dec. 31, 2018 | Aug. 31, 2018USD ($) | Apr. 27, 2018USD ($)certificate | Jul. 31, 2017USD ($)certificateMW |
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Deferral of investigation and remediation of costs associated with gas utilities former MGP sites | 10 years | |||||||||||||||||||||
DTE Electric | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Reduction of revenue due to Tax Cuts and Jobs Act, requested | $ 157 | |||||||||||||||||||||
Reduction of revenue due to Tax Cuts and Jobs Act, approved | $ 157 | |||||||||||||||||||||
Refund due to Tax Cuts and Jobs Act, requested | $ 93 | |||||||||||||||||||||
Refund due to Tax Cuts and Jobs Act, approved | $ 93 | |||||||||||||||||||||
DTE Electric | MPSC | Electric Rate Case Filing 2017 | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Requested rate increase | $ 125 | $ 231 | ||||||||||||||||||||
Approved rate increase | $ 74.4 | $ 65.2 | ||||||||||||||||||||
Return on equity, percent | 10.00% | |||||||||||||||||||||
DTE Electric | MPSC | Electric Rate Case Filing 2017 | Refundable Self-Implemented Rates | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Amount filed to refund to customers | $ 26.2 | |||||||||||||||||||||
DTE Electric | MPSC | Electric Rate Case Filing 2018 | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Requested rate increase | $ 328 | |||||||||||||||||||||
Return on equity, percent | 10.00% | |||||||||||||||||||||
Return on equity, requested percent | 10.50% | |||||||||||||||||||||
DTE Electric | MPSC | Certificate of Necessity Request | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
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 | |||||||||||||||||||||
Number of certificates of necessity approved for issuance | certificate | 3 | |||||||||||||||||||||
Approved recoverable amounts, maximum rate | $ 951.8 | |||||||||||||||||||||
DTE Electric | MPSC | 2016 DTE Main Electric Depreciation Case Filing | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Approved depreciation rate increase | 3.72% | 3.06% | ||||||||||||||||||||
DTE Gas | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Reduction of revenue due to Tax Cuts and Jobs Act, requested | $ 38.2 | |||||||||||||||||||||
Reduction of revenue due to Tax Cuts and Jobs Act, approved | $ 38.2 | |||||||||||||||||||||
Refund due to Tax Cuts and Jobs Act, requested | $ 25 | |||||||||||||||||||||
Calculation C, reduction of revenue due to Tax Cuts and Jobs Act, requested | $ 12 | |||||||||||||||||||||
DTE Gas | MPSC | DTE Gas Rate Case Filing 2017 | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Requested rate increase | $ 38.1 | $ 85.1 | ||||||||||||||||||||
Approved rate increase | $ 9 | |||||||||||||||||||||
Return on equity, percent | 10.00% | 10.10% | ||||||||||||||||||||
Return on equity, requested percent | 10.50% | |||||||||||||||||||||
Nuclear Performance Evaluation and Review Committee Tracker | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Approved amortization period | 5 years | |||||||||||||||||||||
Customer360 deferred costs | ||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||
Approved amortization period | 15 years |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Entity Information [Line Items] | |||
Deferred tax asset, general business tax credit carryforwards | $ 871 | ||
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 | $ 59 | $ 70 | |
Valuation allowance | 33 | 40 | |
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 | 4 | 3 | |
Interest on income taxes expense | 1 | 0 | $ 2 |
Unregulated Operation | |||
Entity Information [Line Items] | |||
Adjustment to deferred tax liabilities related to Tax Cuts and Jobs Act of 2017 | 105 | ||
Refundable federal income taxes | |||
Entity Information [Line Items] | |||
Adjustment to deferred tax liabilities related to Tax Cuts and Jobs Act of 2017 | 2,450 | ||
Federal | |||
Entity Information [Line Items] | |||
Operating loss carryforward | 555 | ||
DTE Electric | |||
Entity Information [Line Items] | |||
Income tax receivable from related party | 8 | 12 | |
State and local net operating loss carry-forwards | 1 | 5 | |
Valuation allowance | 0 | 0 | |
Unrecognized tax benefits that would impact effective tax rate | 10 | 10 | |
Interest on income taxes accrued | 5 | 4 | |
Interest on income taxes expense | 1 | $ 0 | $ 3 |
DTE Electric | General Business Credits | |||
Entity Information [Line Items] | |||
Tax credit carry-forward | 250 | ||
DTE Electric | Federal | |||
Entity Information [Line Items] | |||
Operating loss carryforward | $ 11 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Entity Information [Line Items] | ||||
Statutory rate | 21.00% | 35.00% | 35.00% | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||
Income Before Income Taxes | $ 1,216 | $ 1,287 | $ 1,105 | |
Income tax expense at statutory rate - 21% in 2018 - 35% in 2017 and 2016 | 255 | 450 | 387 | |
Production tax credits | (223) | (189) | (145) | |
Investment tax credits | (4) | (4) | (5) | |
Depreciation | 2 | (4) | (4) | |
Noncontrolling interests | 2 | 8 | 12 | |
AFUDC equity | (14) | (18) | (10) | |
Employee Stock Ownership Plan dividends | (3) | (5) | (5) | |
Stock based compensation | (3) | (14) | 0 | |
Subsidiary stock loss | 0 | 0 | (10) | |
State and local income taxes, net of federal benefit | 60 | 51 | 58 | |
Enactment of the Tax Cuts and Jobs Act | $ (105) | 21 | (105) | 0 |
Other, net | 5 | 5 | (7) | |
Income Tax Expense | $ 98 | $ 175 | $ 271 | |
Effective income tax rate | 8.10% | 13.60% | 24.50% | |
DTE Electric | ||||
Entity Information [Line Items] | ||||
Statutory rate | 21.00% | 35.00% | 35.00% | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||
Income Before Income Taxes | $ 857 | $ 928 | $ 975 | |
Income tax expense at statutory rate - 21% in 2018 - 35% in 2017 and 2016 | 180 | 325 | 341 | |
Production tax credits | (35) | (36) | (30) | |
Investment tax credits | (3) | (4) | (4) | |
Depreciation | 2 | 3 | 3 | |
AFUDC equity | (3) | (5) | (6) | |
Employee Stock Ownership Plan dividends | (2) | (3) | (3) | |
State and local income taxes, net of federal benefit | 49 | 48 | 56 | |
Enactment of the Tax Cuts and Jobs Act | 7 | 0 | 0 | |
Other, net | (2) | (1) | (4) | |
Income Tax Expense | $ 193 | $ 327 | $ 353 | |
Effective income tax rate | 22.50% | 35.20% | 36.20% |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current income tax expense (benefit) | |||
Federal | $ (17) | $ (22) | $ (1) |
State and other income tax | 1 | 1 | 7 |
Total current income taxes | (16) | (21) | 6 |
Deferred income tax expense | |||
Federal | 38 | 118 | 184 |
State and other income tax | 76 | 78 | 81 |
Total deferred income taxes | 114 | 196 | 265 |
Total | 98 | 175 | 271 |
DTE Electric | |||
Current income tax expense (benefit) | |||
Federal | 0 | (17) | 0 |
State and other income tax | 4 | (1) | 11 |
Total current income taxes | 4 | (18) | 11 |
Deferred income tax expense | |||
Federal | 131 | 270 | 268 |
State and other income tax | 58 | 75 | 74 |
Total deferred income taxes | 189 | 345 | 342 |
Total | $ 193 | $ 327 | $ 353 |
Income Taxes (Deferred Tax Asse
Income Taxes (Deferred Tax Assets (Liabilities)) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property, plant, and equipment | $ (3,462) | $ (3,276) |
Regulatory assets and liabilities | (54) | (94) |
Tax credit carry-forwards | 1,178 | 947 |
Pension and benefits | 311 | 334 |
Federal net operating loss carry-forward | 117 | 83 |
State and local net operating loss carry-forwards | 59 | 70 |
Investments in equity method investees | (216) | (82) |
Other | 125 | 170 |
Deferred tax liabilities, gross | (1,942) | (1,848) |
Less valuation allowance | (33) | (40) |
Deferred income tax liabilities | (1,975) | (1,888) |
Deferred income tax assets | 2,021 | 1,814 |
Deferred income tax liabilities | (3,996) | (3,702) |
DTE Electric | ||
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property, plant, and equipment | (2,840) | (2,698) |
Regulatory assets and liabilities | (3) | (31) |
Tax credit carry-forwards | 250 | 193 |
Pension and benefits | 258 | 302 |
Federal net operating loss carry-forward | 2 | 47 |
State and local net operating loss carry-forwards | 1 | 5 |
Investments in equity method investees | (1) | 0 |
Other | 87 | 94 |
Deferred tax liabilities, gross | (2,246) | (2,088) |
Less valuation allowance | 0 | 0 |
Deferred income tax liabilities | (2,246) | (2,088) |
Deferred income tax assets | 855 | 830 |
Deferred income tax liabilities | $ (3,101) | $ (2,918) |
Income Taxes (Reconciliation _2
Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits, beginning balance | $ 10 | $ 10 | $ 3 |
Additions for tax positions of prior years | 0 | 0 | 7 |
Unrecognized tax benefits, ending balance | 10 | 10 | 10 |
DTE Electric | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits, beginning balance | 13 | 13 | 4 |
Additions for tax positions of prior years | 0 | 0 | 9 |
Unrecognized tax benefits, ending balance | $ 13 | $ 13 | $ 13 |
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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Basic Earnings per Share | |||||||||||
Net Income Attributable to DTE Energy Company | $ 191 | $ 334 | $ 234 | $ 361 | $ 287 | $ 270 | $ 177 | $ 400 | $ 1,120 | $ 1,134 | $ 868 |
Less: Allocation of earnings to net restricted stock awards | (2) | (2) | (2) | ||||||||
Net income available to common shareholders — basic | $ 1,118 | $ 1,132 | $ 866 | ||||||||
Average number of common shares outstanding — basic (in shares) | 181 | 179 | 179 | ||||||||
Basic Earnings per Common Share (in dollars per share) | $ 1.05 | $ 1.84 | $ 1.29 | $ 2.01 | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 6.18 | $ 6.32 | $ 4.84 |
Diluted Earnings per Share | |||||||||||
Net Income Attributable to DTE Energy Company | $ 191 | $ 334 | $ 234 | $ 361 | $ 287 | $ 270 | $ 177 | $ 400 | $ 1,120 | $ 1,134 | $ 868 |
Less: Allocation of earnings to net restricted stock awards | (2) | (2) | (2) | ||||||||
Net income available to common shareholders — diluted | $ 1,118 | $ 1,132 | $ 866 | ||||||||
Average number of common shares outstanding — diluted (in shares) | 181 | 179 | 179 | ||||||||
Diluted Earnings per Common Share (in dollars per share) | $ 1.05 | $ 1.84 | $ 1.29 | $ 2 | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 6.17 | $ 6.32 | $ 4.83 |
Incremental common shares attributable to dilutive effect of equity units (in shares) | 6.3 | 6.3 |
Fair Value (Assets and Liabilit
Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative assets | ||
Derivative assets, gross | $ 663 | $ 652 |
Derivative assets, netting | (530) | (498) |
Derivative assets, net | 133 | 154 |
Liabilities | ||
Derivative liabilities, gross | (669) | (657) |
Derivative liabilities, netting | 513 | 511 |
Derivative liabilities, net | (156) | (146) |
Current liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (518) | (558) |
Noncurrent liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (151) | (99) |
Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 349 | 357 |
Derivative assets, netting | (277) | (256) |
Derivative assets, net | 72 | 101 |
Liabilities | ||
Derivative liabilities, gross | (380) | (378) |
Derivative liabilities, netting | 272 | 263 |
Derivative liabilities, net | (108) | (115) |
Electricity | ||
Derivative assets | ||
Derivative assets, gross | 303 | 285 |
Derivative assets, netting | (252) | (241) |
Derivative assets, net | 51 | 44 |
Liabilities | ||
Derivative liabilities, gross | (285) | (275) |
Derivative liabilities, netting | 240 | 246 |
Derivative liabilities, net | (45) | (29) |
Other | ||
Derivative assets | ||
Derivative assets, gross | 7 | 9 |
Derivative assets, netting | (1) | 0 |
Derivative assets, net | 6 | 9 |
Liabilities | ||
Derivative liabilities, gross | (1) | (1) |
Derivative liabilities, netting | 1 | 1 |
Derivative liabilities, net | 0 | 0 |
Interest rate contracts | ||
Liabilities | ||
Derivative liabilities, gross | (3) | 0 |
Derivative liabilities, netting | 0 | 0 |
Derivative liabilities, net | (3) | 0 |
Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, gross | 4 | 1 |
Derivative assets, netting | 0 | (1) |
Derivative assets, net | 4 | 0 |
Liabilities | ||
Derivative liabilities, gross | 0 | (3) |
Derivative liabilities, netting | 0 | 1 |
Derivative liabilities, net | 0 | (2) |
Recurring | ||
Assets | ||
Cash equivalents | 18 | 19 |
Derivative assets | ||
Derivative assets, netting | (530) | (498) |
Derivative assets, net | 133 | 154 |
Total assets | 1,712 | 1,859 |
Liabilities | ||
Derivative liabilities, netting | 513 | 511 |
Derivative liabilities, net | (156) | (146) |
Net Assets (Liabilities) at end of period | 1,556 | 1,713 |
Net Assets (Liabilities) at the end of the period, netting | (17) | 13 |
Recurring | DTE Electric | ||
Assets | ||
Cash equivalents | 10 | 11 |
Derivative assets | ||
Total assets | 1,404 | 1,523 |
Recurring | Current assets | ||
Derivative assets | ||
Derivative assets, netting | (461) | (437) |
Total assets | 120 | 122 |
Recurring | Current assets | DTE Electric | ||
Derivative assets | ||
Total assets | 16 | 20 |
Recurring | Noncurrent assets | ||
Derivative assets | ||
Derivative assets, netting | (69) | (61) |
Total assets | 1,592 | 1,737 |
Recurring | Noncurrent assets | DTE Electric | ||
Derivative assets | ||
Total assets | 1,388 | 1,503 |
Recurring | Current liabilities | ||
Liabilities | ||
Derivative liabilities, netting | 451 | 459 |
Derivative liabilities, net | (67) | (99) |
Recurring | Noncurrent liabilities | ||
Liabilities | ||
Derivative liabilities, netting | 62 | 52 |
Derivative liabilities, net | (89) | (47) |
Recurring | Cash and Cash equivalents | ||
Assets | ||
Cash equivalents | 3 | |
Recurring | Restricted cash | ||
Assets | ||
Cash equivalents | 5 | 8 |
Recurring | Other | ||
Assets | ||
Cash equivalents | 10 | 11 |
Recurring | Other | DTE Electric | ||
Assets | ||
Cash equivalents | 10 | 11 |
Recurring | Natural Gas | ||
Derivative assets | ||
Derivative assets, netting | (277) | (256) |
Derivative assets, net | 72 | 101 |
Liabilities | ||
Derivative liabilities, netting | 272 | 263 |
Derivative liabilities, net | (108) | (115) |
Recurring | Electricity | ||
Derivative assets | ||
Derivative assets, netting | (252) | (241) |
Derivative assets, net | 51 | 44 |
Liabilities | ||
Derivative liabilities, netting | 240 | 246 |
Derivative liabilities, net | (45) | (29) |
Recurring | Other | ||
Derivative assets | ||
Derivative assets, netting | (1) | 0 |
Derivative assets, net | 6 | 9 |
Liabilities | ||
Derivative liabilities, netting | 1 | 1 |
Derivative liabilities, net | 0 | 0 |
Recurring | Interest rate contracts | ||
Liabilities | ||
Derivative liabilities, netting | 0 | 0 |
Derivative liabilities, net | (3) | 0 |
Recurring | Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, netting | 0 | (1) |
Derivative assets, net | 4 | 0 |
Liabilities | ||
Derivative liabilities, netting | 0 | 1 |
Derivative liabilities, net | 0 | (2) |
Recurring | Derivative assets — FTRs | DTE Electric | ||
Derivative assets | ||
Derivative assets, net | 6 | 9 |
Recurring | Cash equivalents | ||
Assets | ||
Nuclear decommissioning trusts | 5 | 14 |
Other investments | 4 | 4 |
Recurring | Cash equivalents | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 5 | 14 |
Recurring | Private equity and other | ||
Assets | ||
Nuclear decommissioning trusts | 20 | 5 |
Recurring | Private equity and other | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 20 | 5 |
Recurring | Equity securities | ||
Assets | ||
Nuclear decommissioning trusts | 851 | 978 |
Other investments | 110 | 118 |
Recurring | Equity securities | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 851 | 978 |
Other investments | 10 | 11 |
Recurring | Fixed income securities | ||
Assets | ||
Nuclear decommissioning trusts | 502 | 495 |
Other investments | 69 | 72 |
Recurring | Fixed income securities | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 502 | 495 |
Recurring | Level 1 | ||
Assets | ||
Cash equivalents | 16 | 16 |
Derivative assets | ||
Derivative assets, gross | 199 | 148 |
Total assets | 1,266 | 1,368 |
Liabilities | ||
Derivative liabilities, gross | (197) | (141) |
Net Assets (Liabilities) at end of period | 1,069 | 1,227 |
Recurring | Level 1 | DTE Electric | ||
Assets | ||
Cash equivalents | 8 | 8 |
Derivative assets | ||
Total assets | 886 | 1,029 |
Recurring | Level 1 | Current assets | ||
Derivative assets | ||
Total assets | 212 | 157 |
Recurring | Level 1 | Current assets | DTE Electric | ||
Derivative assets | ||
Total assets | 8 | 8 |
Recurring | Level 1 | Noncurrent assets | ||
Derivative assets | ||
Total assets | 1,054 | 1,211 |
Recurring | Level 1 | Noncurrent assets | DTE Electric | ||
Derivative assets | ||
Total assets | 878 | 1,021 |
Recurring | Level 1 | Current liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (191) | (137) |
Recurring | Level 1 | Noncurrent liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (6) | (4) |
Recurring | Level 1 | Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 199 | 148 |
Liabilities | ||
Derivative liabilities, gross | (197) | (141) |
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 | Interest rate contracts | ||
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 | 5 | 14 |
Other investments | 4 | 4 |
Recurring | Level 1 | Cash equivalents | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 5 | 14 |
Recurring | Level 1 | Private equity and other | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 1 | Private equity and other | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 1 | Equity securities | ||
Assets | ||
Nuclear decommissioning trusts | 851 | 978 |
Other investments | 110 | 118 |
Recurring | Level 1 | Equity securities | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 851 | 978 |
Other investments | 10 | 11 |
Recurring | Level 1 | Fixed income securities | ||
Assets | ||
Nuclear decommissioning trusts | 12 | 18 |
Other investments | 69 | 72 |
Recurring | Level 1 | Fixed income securities | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 12 | 18 |
Recurring | Level 2 | ||
Assets | ||
Cash equivalents | 2 | 3 |
Derivative assets | ||
Derivative assets, gross | 338 | 356 |
Total assets | 830 | 836 |
Liabilities | ||
Derivative liabilities, gross | (302) | (359) |
Net Assets (Liabilities) at end of period | 528 | 477 |
Recurring | Level 2 | DTE Electric | ||
Assets | ||
Cash equivalents | 2 | 3 |
Derivative assets | ||
Total assets | 492 | 480 |
Recurring | Level 2 | Current assets | ||
Derivative assets | ||
Total assets | 273 | 298 |
Recurring | Level 2 | Current assets | DTE Electric | ||
Derivative assets | ||
Total assets | 2 | 3 |
Recurring | Level 2 | Noncurrent assets | ||
Derivative assets | ||
Total assets | 557 | 538 |
Recurring | Level 2 | Noncurrent assets | DTE Electric | ||
Derivative assets | ||
Total assets | 490 | 477 |
Recurring | Level 2 | Current liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (251) | (313) |
Recurring | Level 2 | Noncurrent liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (51) | (46) |
Recurring | Level 2 | Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 87 | 112 |
Liabilities | ||
Derivative liabilities, gross | (71) | (111) |
Recurring | Level 2 | Electricity | ||
Derivative assets | ||
Derivative assets, gross | 247 | 243 |
Liabilities | ||
Derivative liabilities, gross | (227) | (245) |
Recurring | Level 2 | Other | ||
Derivative assets | ||
Derivative assets, gross | 0 | 0 |
Liabilities | ||
Derivative liabilities, gross | (1) | 0 |
Recurring | Level 2 | Interest rate contracts | ||
Liabilities | ||
Derivative liabilities, gross | (3) | 0 |
Recurring | Level 2 | Foreign currency exchange contracts | ||
Derivative assets | ||
Derivative assets, gross | 4 | 1 |
Liabilities | ||
Derivative liabilities, gross | 0 | (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 and other | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 2 | Private equity and other | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 2 | 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 | 490 | 477 |
Other investments | 0 | 0 |
Recurring | Level 2 | Fixed income securities | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 490 | 477 |
Recurring | Level 3 | ||
Assets | ||
Cash equivalents | 0 | 0 |
Derivative assets | ||
Derivative assets, gross | 126 | 148 |
Total assets | 126 | 148 |
Liabilities | ||
Derivative liabilities, gross | (170) | (157) |
Net Assets (Liabilities) at end of period | (44) | (9) |
Recurring | Level 3 | DTE Electric | ||
Assets | ||
Cash equivalents | 0 | 0 |
Derivative assets | ||
Total assets | 6 | 9 |
Recurring | Level 3 | Current assets | ||
Derivative assets | ||
Total assets | 96 | 104 |
Recurring | Level 3 | Current assets | DTE Electric | ||
Derivative assets | ||
Total assets | 6 | 9 |
Recurring | Level 3 | Noncurrent assets | ||
Derivative assets | ||
Total assets | 30 | 44 |
Recurring | Level 3 | Noncurrent assets | DTE Electric | ||
Derivative assets | ||
Total assets | 0 | 0 |
Recurring | Level 3 | Current liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (76) | (108) |
Recurring | Level 3 | Noncurrent liabilities | ||
Liabilities | ||
Derivative liabilities, gross | (94) | (49) |
Recurring | Level 3 | Natural Gas | ||
Derivative assets | ||
Derivative assets, gross | 63 | 97 |
Liabilities | ||
Derivative liabilities, gross | (112) | (126) |
Recurring | Level 3 | Electricity | ||
Derivative assets | ||
Derivative assets, gross | 56 | 42 |
Liabilities | ||
Derivative liabilities, gross | (58) | (30) |
Recurring | Level 3 | Other | ||
Derivative assets | ||
Derivative assets, gross | 7 | 9 |
Liabilities | ||
Derivative liabilities, gross | 0 | (1) |
Recurring | Level 3 | Interest rate contracts | ||
Liabilities | ||
Derivative liabilities, gross | 0 | 0 |
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 | 6 | 9 |
Recurring | Level 3 | Cash equivalents | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Other investments | 0 | 0 |
Recurring | Level 3 | Cash equivalents | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 3 | Private equity and other | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 3 | Private equity and other | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Level 3 | Equity securities | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Other investments | 0 | 0 |
Recurring | Level 3 | Equity securities | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Other investments | 0 | 0 |
Recurring | Level 3 | Fixed income securities | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Other investments | 0 | 0 |
Recurring | Level 3 | Fixed income securities | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | 0 | 0 |
Recurring | Other | ||
Derivative assets | ||
Total assets | 20 | 5 |
Liabilities | ||
Net Assets (Liabilities) at end of period | 20 | 5 |
Recurring | Other | DTE Electric | ||
Derivative assets | ||
Total assets | 20 | 5 |
Recurring | Other | Noncurrent assets | ||
Derivative assets | ||
Total assets | 20 | 5 |
Recurring | Other | Noncurrent assets | DTE Electric | ||
Derivative assets | ||
Total assets | 20 | 5 |
Recurring | Other | Private equity and other | ||
Assets | ||
Nuclear decommissioning trusts | 20 | 5 |
Recurring | Other | Private equity and other | DTE Electric | ||
Assets | ||
Nuclear decommissioning trusts | $ 20 | $ 5 |
Fair Value (Reconciliation of L
Fair Value (Reconciliation of Level 3 Assets and Liabilities at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Purchases, issuances, and settlements: | ||
Issuances | $ 0 | $ 0 |
Natural Gas | ||
Purchases, issuances, and settlements: | ||
Issuances | 0 | 0 |
Electricity | ||
Purchases, issuances, and settlements: | ||
Issuances | 0 | 0 |
Other | ||
Purchases, issuances, and settlements: | ||
Issuances | 0 | 0 |
Recurring | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | (9) | (88) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | (3) | 0 |
Total gains (losses) | ||
Included in earnings | (116) | 82 |
Recorded in Regulatory liabilities | 9 | 25 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Settlements | 75 | (28) |
Net Assets (Liabilities) as of December 31 | (44) | (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, 2018 and 2017 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (120) | 21 |
Recurring | Natural Gas | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | (29) | (96) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | (3) | 0 |
Total gains (losses) | ||
Included in earnings | (146) | (29) |
Recorded in Regulatory liabilities | 0 | 0 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Settlements | 129 | 96 |
Net Assets (Liabilities) as of December 31 | (49) | (29) |
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, 2018 and 2017 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (119) | (30) |
Recurring | Electricity | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | 12 | 9 |
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 | 109 |
Recorded in Regulatory liabilities | 0 | 0 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Settlements | (43) | (106) |
Net Assets (Liabilities) as of December 31 | (2) | 12 |
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, 2018 and 2017 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 15 | 50 |
Recurring | Other | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | 8 | (1) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | 0 |
Total gains (losses) | ||
Included in earnings | 1 | 2 |
Recorded in Regulatory liabilities | 9 | 25 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Settlements | (11) | (18) |
Net Assets (Liabilities) as of December 31 | 7 | 8 |
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, 2018 and 2017 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (16) | 1 |
Recurring | DTE Electric | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of January 1 | 9 | 2 |
Total gains (losses) | ||
Recorded in Regulatory liabilities | 9 | 25 |
Purchases, issuances, and settlements: | ||
Settlements | (12) | (18) |
Net Assets (Liabilities) as of December 31 | 6 | 9 |
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, 2018 and 2017 and reflected in DTE Electric's Consolidated Statements of Financial Position | $ 6 | $ 9 |
Fair Value (Unobservable Inputs
Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details) $ in Millions | Dec. 31, 2018USD ($)$ / MMBTU$ / MWh | Dec. 31, 2017USD ($)$ / MMBTU$ / MWh |
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | $ 663 | $ 652 |
Derivative Liabilities | (669) | (657) |
Natural Gas | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 349 | 357 |
Derivative Liabilities | (380) | (378) |
Electricity | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 303 | 285 |
Derivative Liabilities | $ (285) | $ (275) |
Level 3 | Discounted Cash Flow | Forward basis price | Natural Gas | Minimum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | (2.15) | (1.10) |
Level 3 | Discounted Cash Flow | Forward basis price | Natural Gas | Maximum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | 5.59 | 9.75 |
Level 3 | Discounted Cash Flow | Forward basis price | Natural Gas | Weighted Average | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | (0.10) | (0.03) |
Level 3 | Discounted Cash Flow | Forward basis price | Electricity | Minimum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | (7) | (5) |
Level 3 | Discounted Cash Flow | Forward basis price | Electricity | Maximum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | 9 | 15 |
Level 3 | Discounted Cash Flow | Forward basis price | Electricity | Weighted Average | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | 1 | 2 |
Recurring | Level 3 | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | $ 126 | $ 148 |
Derivative Liabilities | (170) | (157) |
Recurring | Level 3 | Natural Gas | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 63 | 97 |
Derivative Liabilities | (112) | (126) |
Recurring | Level 3 | Electricity | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative Assets | 56 | 42 |
Derivative Liabilities | $ (58) | $ (30) |
Fair Value (Fair Value of Finan
Fair Value (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | $ 40 | $ 38 |
Dividends payable | 172 | 158 |
Short-term borrowings | 609 | 621 |
Notes payable — Other | 41 | 12 |
Long-term debt | 13,622 | 12,288 |
Carrying Amount | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 6 | 0 |
Short-term borrowings | 149 | 238 |
Notes payable — Other | 21 | 2 |
Long-term debt | 6,538 | 6,017 |
Carrying Amount | DTE Electric | Affiliated entity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term borrowings | 101 | 116 |
Fair Value | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 0 |
Dividends payable | 172 | 158 |
Short-term borrowings | 0 | 0 |
Notes payable — Other | 0 | 0 |
Long-term debt | 1,796 | 1,939 |
Fair Value | Level 1 | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, 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, excluding capital leases | 0 | 0 |
Dividends payable | 0 | 0 |
Short-term borrowings | 609 | 621 |
Notes payable — Other | 0 | 0 |
Long-term debt | 10,712 | 10,571 |
Fair Value | Level 2 | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 0 |
Short-term borrowings | 149 | 238 |
Notes payable — Other | 0 | 0 |
Long-term debt | 6,552 | 6,441 |
Fair Value | Level 2 | DTE Electric | Affiliated entity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term borrowings | 0 | |
Fair Value | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 40 | 38 |
Dividends payable | 0 | 0 |
Short-term borrowings | 0 | 0 |
Notes payable — Other | 41 | 12 |
Long-term debt | 1,317 | 764 |
Fair Value | Level 3 | DTE Electric | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 6 | 0 |
Short-term borrowings | 0 | 0 |
Notes payable — Other | 21 | 2 |
Long-term debt | 161 | 171 |
Fair Value | Level 3 | DTE Electric | Affiliated entity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term borrowings | $ 101 | $ 116 |
Fair Value (Fair Value of Nucle
Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale [Line Items] | ||
Nuclear decommissioning trust funds | $ 1,378 | $ 1,492 |
DTE Electric | ||
Debt Securities, Available-for-sale [Line Items] | ||
Nuclear decommissioning trust funds | 1,378 | 1,492 |
DTE Electric | Nuclear decommissioning trusts | ||
Debt Securities, Available-for-sale [Line Items] | ||
Nuclear decommissioning trust funds | 1,378 | 1,492 |
DTE Electric | Nuclear decommissioning trusts | Fermi 2 | ||
Debt Securities, Available-for-sale [Line Items] | ||
Nuclear decommissioning trust funds | 1,372 | 1,475 |
DTE Electric | Nuclear decommissioning trusts | Fermi 1 | ||
Debt Securities, Available-for-sale [Line Items] | ||
Nuclear decommissioning trust funds | 3 | 3 |
DTE Electric | Nuclear decommissioning trusts | Low-level radioactive waste | ||
Debt Securities, Available-for-sale [Line Items] | ||
Nuclear decommissioning trust funds | $ 3 | $ 14 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Securities, Available-for-sale [Line Items] | |||
Realized gains | $ 65 | $ 83 | $ 74 |
Realized losses | (42) | (29) | (63) |
Proceeds from sale of securities | $ 1,203 | $ 1,240 | $ 1,457 |
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, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value | $ 1,378 | $ 1,492 |
Fixed income securities, fair value | 502 | 495 |
Private equity securities, fair value | 20 | 5 |
Cash equivalents, fair value | 5 | 14 |
Unrealized gains | 242 | 333 |
Fixed income securities, unrealized gain | 7 | 13 |
Unrealized losses | (87) | (35) |
Fixed income securities, unrealized loss | (8) | (3) |
Equity securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value | 851 | 978 |
Unrealized gains | 235 | 320 |
Unrealized losses | $ (79) | $ (32) |
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, 2018USD ($) |
Debt Securities, Available-for-sale [Line Items] | |
Due within one year | $ 29 |
Due after one through five years | 89 |
Due after five through ten years | 113 |
Due after ten years | 271 |
Fixed income securities total | $ 502 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |||
Losses from trading securities | $ 11 | ||
Gains from trading securities | $ 26 | $ 15 |
Financial and Other Derivativ_3
Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 663 | $ 652 |
Derivative Liabilities | (669) | (657) |
Current derivative asset | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 563 | 540 |
Noncurrent derivative asset | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 100 | 112 |
Current derivative liability | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (518) | (558) |
Noncurrent derivative liability | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (151) | (99) |
Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (3) | 0 |
Natural gas | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 349 | 357 |
Derivative Liabilities | (380) | (378) |
Electricity | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 303 | 285 |
Derivative Liabilities | (285) | (275) |
Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 7 | 9 |
Derivative Liabilities | (1) | (1) |
Foreign currency exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 4 | 1 |
Derivative Liabilities | 0 | (3) |
Derivatives designated as hedging instruments | Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 0 | 0 |
Derivative Liabilities | (3) | 0 |
Derivatives not designated as hedging instruments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 663 | 652 |
Derivative Liabilities | (666) | (657) |
Derivatives not designated as hedging instruments | DTE Electric | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 6 | 9 |
Derivatives not designated as hedging instruments | Natural gas | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 349 | 357 |
Derivative Liabilities | (380) | (378) |
Derivatives not designated as hedging instruments | Electricity | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 303 | 285 |
Derivative Liabilities | (285) | (275) |
Derivatives not designated as hedging instruments | Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 7 | 9 |
Derivative Liabilities | (1) | (1) |
Derivatives not designated as hedging instruments | FTRs — Other current assets | DTE Electric | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 6 | 9 |
Derivatives not designated as hedging instruments | Foreign currency exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 4 | 1 |
Derivative Liabilities | $ 0 | $ (3) |
Financial and Other Derivativ_4
Financial and Other Derivative Instruments (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Letters of credit that could be used to offset net derivative liabilities | $ 4,000,000 | $ 4,000,000 |
Letters of credit that could be used to offset net derivative assets | 8,000,000 | 4,000,000 |
Cash collateral received, net of cash collateral posted | 13,000,000 | |
Cash collateral posted, net of cash collateral received | 28,000,000 | |
Collateral adjustment on derivative assets | 17,000,000 | 9,000,000 |
Collateral adjustment on derivative liabilities | 0 | 22,000,000 |
Cash collateral paid | 10,000,000 | 18,000,000 |
Cash collateral received | 6,000,000 | $ 3,000,000 |
Additional collateral, aggregate fair value | 638,000,000 | |
Derivative net liability position aggregate fair value | 541,000,000 | |
Collateral already posted fair value | 0 | |
Derivative, net asset position, fair value | 495,000,000 | |
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions | $ 46,000,000 |
Financial and Other Derivativ_5
Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative assets | ||
Gross Amounts of Recognized Assets (Liabilities) | $ 663 | $ 652 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (530) | (498) |
Derivative assets, net | 133 | 154 |
Derivative liabilities | ||
Gross Amounts of Recognized Assets (Liabilities) | (669) | (657) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 513 | 511 |
Derivative liabilities, net | (156) | (146) |
Natural gas | ||
Derivative assets | ||
Gross Amounts of Recognized Assets (Liabilities) | 349 | 357 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (277) | (256) |
Derivative assets, net | 72 | 101 |
Derivative liabilities | ||
Gross Amounts of Recognized Assets (Liabilities) | (380) | (378) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 272 | 263 |
Derivative liabilities, net | (108) | (115) |
Electricity | ||
Derivative assets | ||
Gross Amounts of Recognized Assets (Liabilities) | 303 | 285 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (252) | (241) |
Derivative assets, net | 51 | 44 |
Derivative liabilities | ||
Gross Amounts of Recognized Assets (Liabilities) | (285) | (275) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 240 | 246 |
Derivative liabilities, net | (45) | (29) |
Other | ||
Derivative assets | ||
Gross Amounts of Recognized Assets (Liabilities) | 7 | 9 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (1) | 0 |
Derivative assets, net | 6 | 9 |
Derivative liabilities | ||
Gross Amounts of Recognized Assets (Liabilities) | (1) | (1) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 1 | 1 |
Derivative liabilities, net | 0 | 0 |
Interest rate contracts | ||
Derivative liabilities | ||
Gross Amounts of Recognized Assets (Liabilities) | (3) | 0 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 0 | 0 |
Derivative liabilities, net | (3) | 0 |
Foreign currency exchange contracts | ||
Derivative assets | ||
Gross Amounts of Recognized Assets (Liabilities) | 4 | 1 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 0 | (1) |
Derivative assets, net | 4 | 0 |
Derivative liabilities | ||
Gross Amounts of Recognized Assets (Liabilities) | 0 | (3) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 0 | 1 |
Derivative liabilities, net | $ 0 | $ (2) |
Financial and Other Derivativ_6
Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Assets | ||
Derivative Assets | $ 663,000,000 | $ 652,000,000 |
Collateral adjustment | (17,000,000) | (9,000,000) |
Derivative asset, current | 102,000,000 | 103,000,000 |
Derivative assets, noncurrent | 31,000,000 | 51,000,000 |
Derivative Liabilities | ||
Derivative Liabilities | (669,000,000) | (657,000,000) |
Collateral adjustment | 0 | 22,000,000 |
Derivative liabilities, current | (67,000,000) | (99,000,000) |
Derivative liabilities, noncurrent | (89,000,000) | (47,000,000) |
Current derivative asset | ||
Derivative Assets | ||
Derivative Assets | 563,000,000 | 540,000,000 |
Counterparty netting | (451,000,000) | (437,000,000) |
Collateral adjustment | (10,000,000) | 0 |
Derivative asset, current | 102,000,000 | 103,000,000 |
Noncurrent derivative asset | ||
Derivative Assets | ||
Derivative Assets | 100,000,000 | 112,000,000 |
Counterparty netting | (62,000,000) | (52,000,000) |
Collateral adjustment | (7,000,000) | (9,000,000) |
Derivative assets, noncurrent | 31,000,000 | 51,000,000 |
Current derivative liability | ||
Derivative Liabilities | ||
Derivative Liabilities | (518,000,000) | (558,000,000) |
Counterparty netting | 451,000,000 | 437,000,000 |
Collateral adjustment | 0 | 22,000,000 |
Derivative liabilities, current | (67,000,000) | (99,000,000) |
Noncurrent derivative liability | ||
Derivative Liabilities | ||
Derivative Liabilities | (151,000,000) | (99,000,000) |
Counterparty netting | 62,000,000 | 52,000,000 |
Collateral adjustment | 0 | 0 |
Derivative liabilities, noncurrent | $ (89,000,000) | $ (47,000,000) |
Financial and Other Derivativ_7
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) Recognized in Income on Derivatives | $ (81) | $ 128 | $ (109) |
Natural gas | Operating Revenues — Non-utility operations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) Recognized in Income on Derivatives | (42) | (74) | (153) |
Natural gas | Fuel, purchased power, and gas — non-utility | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) Recognized in Income on Derivatives | (94) | 97 | (2) |
Electricity | Operating Revenues — Non-utility operations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) Recognized in Income on Derivatives | 49 | 105 | 43 |
Other | Operating Revenues — Non-utility operations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) Recognized in Income on Derivatives | (1) | 2 | 5 |
Foreign currency exchange contracts | Operating Revenues — Non-utility operations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) Recognized in Income on Derivatives | $ 7 | $ (2) | $ (2) |
Financial and Other Derivativ_8
Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details) | 12 Months Ended |
Dec. 31, 2018CAD ($)MWhMMBTU | |
Natural Gas (MMBtu) | |
Derivative [Line Items] | |
Commodity | MMBTU | 2,171,541,994 |
Electricity (MWh) | |
Derivative [Line Items] | |
Commodity | MWh | 36,163,761 |
Foreign Currency Exchange (Canadian dollars) | |
Derivative [Line Items] | |
Foreign Currency Exchange (Canadian dollars) | $ | $ 101,975,644 |
Long-Term Debt (Long Term Debt
Long-Term Debt (Long Term Debt Outstanding and Weighted Average Interest Rates) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Long-term debt, excluding current maturities | $ 10,982 | $ 11,039 |
Long-term debt, total | 13,746 | |
Other Long-Term Debt | ||
Debt Instrument [Line Items] | ||
Long-term debt, gross | 1 | 7 |
Secured Debt, Unsecured Debt, Mortgage Notes and Other Debt | ||
Debt Instrument [Line Items] | ||
Long-term debt, gross | 12,566 | 11,227 |
Unamortized debt discount and premium, net | (16) | (15) |
Unamortized debt issuance costs | (73) | (69) |
Long-term debt due within one year | (1,495) | (104) |
Long-term debt, excluding current maturities | $ 10,982 | 11,039 |
Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Interest rate | 5.50% | |
Long-term debt, gross | $ 1,180 | 1,180 |
Unamortized debt issuance costs | (35) | (35) |
Long-term debt, total | 1,145 | 1,145 |
DTE Electric | ||
Debt Instrument [Line Items] | ||
Long-term debt, gross | 6,590 | 6,065 |
Long-term debt, excluding current maturities | 6,538 | 6,017 |
Long-term debt, total | $ 6,590 | |
DTE Electric | Principally Secured | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.30% | |
Long-term debt, gross | $ 6,280 | 5,755 |
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 | (11) | (10) |
Unamortized debt issuance costs | $ (41) | (38) |
DTE Gas | Principally Secured | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.50% | |
Long-term debt, gross | $ 1,550 | 1,330 |
DTE Energy | Unsecured | ||
Debt Instrument [Line Items] | ||
Interest rate | 3.20% | |
Long-term debt, gross | $ 4,425 | $ 3,825 |
Long-Term Debt (Debt Issuances)
Long-Term Debt (Debt Issuances) (Details) | Dec. 31, 2018USD ($) |
Debt Instrument [Line Items] | |
Amount | $ 1,445,000,000 |
DTE Energy | Senior Notes | August 2018 3.70% Senior Notes Maturing 2023 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.70% |
Amount | $ 600,000,000 |
DTE Electric | Mortgage Bonds | May 2018 4.05% Mortgage Bonds Maturing 2048 | |
Debt Instrument [Line Items] | |
Interest Rate | 4.05% |
Amount | $ 525,000,000 |
DTE Gas | Mortgage Bonds | August 2018 3.81% Mortgage Bonds Maturing 2028 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.81% |
Amount | $ 195,000,000 |
DTE Gas | Mortgage Bonds | August 2018 4.14% Mortgage Bonds Maturing 2048 | |
Debt Instrument [Line Items] | |
Interest Rate | 4.14% |
Amount | $ 125,000,000 |
Long-Term Debt (Debt Redemption
Long-Term Debt (Debt Redemptions) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Debt Instrument, Redemption [Line Items] | |
Amount | $ 105 |
DTE Energy | Other Long-Term Debt | |
Debt Instrument, Redemption [Line Items] | |
Amount | $ 5 |
DTE Gas | Senior Notes | April 2018 6.04% Senior Notes Maturing 2018 | |
Debt Instrument, Redemption [Line Items] | |
Interest Rate | 6.04% |
Amount | $ 100 |
Long-Term Debt (Scheduled Debt
Long-Term Debt (Scheduled Debt Maturities) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Maturities of Long-term Debt [Abstract] | |
2,019 | $ 1,495 |
2,020 | 682 |
2,021 | 462 |
2,022 | 616 |
2,023 | 1,177 |
2024 and Thereafter | 9,314 |
Long-term debt, total | 13,746 |
DTE Electric | |
Maturities of Long-term Debt [Abstract] | |
2,019 | 0 |
2,020 | 632 |
2,021 | 462 |
2,022 | 316 |
2,023 | 202 |
2024 and Thereafter | 4,978 |
Long-term debt, total | $ 6,590 |
Long Term Debt (Junior Subordin
Long Term Debt (Junior Subordinated Debt and Interest Rates) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Junior subordinated debentures | $ 1,145 | $ 1,145 |
Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Junior subordinated debentures | $ 1,180 | |
Junior Subordinated Debentures | 5.25% junior subordinated debentures maturing 2062 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.25% | |
Junior subordinated debentures | $ 200 | |
Junior Subordinated Debentures | 5.375% junior subordinated debentures maturing 2076 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.375% | |
Junior subordinated debentures | $ 300 | |
Junior Subordinated Debentures | 6.00% 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 maturing 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, 2018USD ($)shares | Dec. 31, 2016USD ($) | Oct. 31, 2019shares | Dec. 31, 2017USD ($) | Oct. 01, 2016 |
Debt Instrument [Line Items] | ||||||||
Face amount | $ | $ 1,445,000,000 | |||||||
Junior subordinated debentures | $ | 1,145,000,000 | $ 1,145,000,000 | ||||||
Equity units, percentage interest in attached debt instrument | 0.005% | |||||||
Financial instruments subject to mandatory redemption, settlement terms, share value, amount | $ | $ 98,000,000 | |||||||
October series C 1.5% RSNs maturing 2024 | Other long-term debt | ||||||||
Debt Instrument [Line Items] | ||||||||
Face amount | $ | $ 675,000,000 | $ 675,000,000 | ||||||
Interest rate | 1.50% | 1.50% | ||||||
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) | $ 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) | $ 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 | Minimum | Scenario, Forecast | ||||||||
Debt Instrument [Line Items] | ||||||||
Financial instruments subject to mandatory redemption, settlement terms, number of shares (in shares) | shares | 5.8 | |||||||
Equity units subject to mandatory redemption | Maximum | Scenario, Forecast | ||||||||
Debt Instrument [Line Items] | ||||||||
Financial instruments subject to mandatory redemption, settlement terms, number of shares (in shares) | shares | 7.3 | |||||||
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) | $ 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) | 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) | $ 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) | $ 93.05 | |||||||
AGS | M3 Midstream | Midstream Natural Gas Assets | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of voting interests acquired | 100.00% | |||||||
SGG | Midstream Natural Gas Assets | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of voting interests acquired | 55.00% | 55.00% | ||||||
SGG | M3 Midstream | Midstream Natural Gas Assets | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of voting interests acquired | 40.00% | |||||||
SGG | Vega Energy Partners | Midstream Natural Gas Assets | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage of voting interests acquired | 15.00% |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Oct. 31, 2016 |
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ||||||
Total Net Proceeds | $ 654,000,000 | $ 0 | $ 0 | $ 654,000,000 | ||
Total Long-Term Debt | 1,445,000,000 | |||||
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 | $ 98,000,000 | 33,000,000 | 66,000,000 | |||
Redemption of long-term debt | $ 33,000,000 | $ 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 Secu_3
Preferred and Preference Securities (Details) | Dec. 31, 2018$ / 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 Arrangement_3
Short-Term Credit Arrangements and Borrowings (Details) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 777,000,000 | |
Weighted average interest rate | 2.90% | 1.90% |
Dividend restriction | $ 2,400,000,000 | |
Retained earnings | 6,112,000,000 | $ 5,643,000,000 |
Effective limitations | 0 | |
Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 168,000,000 | |
DTE Electric | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.50 | |
Other outstanding letters of credit | $ 149,000,000 | |
Weighted average interest rate | 2.90% | 1.50% |
Retained earnings | $ 2,162,000,000 | $ 1,956,000,000 |
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 | $ 189,000,000 | |
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 | 0.55 | |
Other outstanding letters of credit | $ 439,000,000 | |
DTE Energy | Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | 168,000,000 | |
DTE Energy | Demand financing agreement | ||
Short-term Debt [Line Items] | ||
Maximum borrowing capacity | 100,000,000 | |
Additional margin financing | 50,000,000 | |
Amount outstanding | 93,000,000 | $ 56,000,000 |
DTE Energy | Demand financing agreement plus letter of credit | ||
Short-term Debt [Line Items] | ||
Maximum borrowing capacity | 125,000,000 | |
DTE Energy | Other outstanding letters of credit | Letters of credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 9,000,000 | |
Maximum | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.65 |
Short-Term Credit Arrangement_4
Short-Term Credit Arrangements and Borrowings (Schedule of Borrowings) (Details) | Dec. 31, 2018USD ($) |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | $ 2,120,000,000 |
Amounts outstanding | 777,000,000 |
Net availability | 1,343,000,000 |
DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 400,000,000 |
Amounts outstanding | 149,000,000 |
Net availability | 251,000,000 |
DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 300,000,000 |
Amounts outstanding | 189,000,000 |
Net availability | 111,000,000 |
DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 1,420,000,000 |
Amounts outstanding | 439,000,000 |
Net availability | 981,000,000 |
Letters of credit | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 168,000,000 |
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 | 168,000,000 |
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 | 609,000,000 |
Commercial paper issuances | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 149,000,000 |
Commercial paper issuances | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 189,000,000 |
Commercial paper issuances | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | $ 271,000,000 |
Capital and Operating Leases (F
Capital and Operating Leases (Future Minimum Lease Payments under Non-Cancelable Leases) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,019 | $ 42 |
2,020 | 30 |
2,021 | 18 |
2,022 | 11 |
2,023 | 8 |
2024 and thereafter | 45 |
Total minimum lease payments | 154 |
DTE Electric | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,019 | 17 |
2,020 | 12 |
2,021 | 10 |
2,022 | 7 |
2,023 | 5 |
2024 and thereafter | 29 |
Total minimum lease payments | $ 80 |
Capital and Operating Leases _2
Capital and Operating Leases (Future Rental Revenue under Non-Cancelable Operating Leases) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
2,019 | $ 66 |
2,020 | 66 |
2,021 | 64 |
2,022 | 20 |
2,023 | 20 |
2024 and thereafter | 196 |
Total minimum future rental revenue under non-cancelable operating leases | $ 432 |
Capital and Operating Leases (D
Capital and Operating Leases (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Leases [Abstract] | |||
Contingent rental revenues | $ 107 | $ 91 | $ 101 |
Schedule of Lessor Capital Leases [Line Items] | |||
Rent expense | $ 44 | 51 | 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 | $ 18 | $ 28 | $ 28 |
Capital and Operating Leases (C
Capital and Operating Leases (Components of the Net Investment in the Capital Leases) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Capital Leases of Lessor [Abstract] | |
2,019 | $ 10 |
2,020 | 9 |
2,021 | 0 |
2,022 | 0 |
2,023 | 0 |
2024 and thereafter | 1 |
Total minimum future lease receipts | 20 |
Residual value of leased pipeline | 40 |
Less unearned income | (9) |
Net investment in capital lease | 51 |
Less current portion | (5) |
Capital lease, noncurrent | $ 46 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) | 12 Months Ended | |||
Dec. 31, 2018USD ($)employeeplantfacilityNOVsite | Dec. 31, 2010 | Dec. 31, 2017USD ($) | Jul. 31, 2009plant | |
Loss Contingencies [Line Items] | ||||
Sulfur dioxide ambient air quality standard finalized | 1 hour | |||
Utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees estimated for next year | $ 3,900,000,000 | |||
Accounts receivable | 1,789,000,000 | $ 1,758,000,000 | ||
Reserve recorded related to pre-petition receivables | 91,000,000 | 49,000,000 | ||
Long-lived assets used in producing electric output for sale | $ 21,650,000,000 | 20,721,000,000 | ||
Power and Industrial Projects | ||||
Loss Contingencies [Line Items] | ||||
Number of generating plants operated with ownership interests held | plant | 5 | |||
Labor force concentration risk | Workforce subject to collective bargaining arrangements | ||||
Loss Contingencies [Line Items] | ||||
Approximate number of employees | employee | 5,200 | |||
PG&E | Power and Industrial Projects | ||||
Loss Contingencies [Line Items] | ||||
Accounts receivable | $ 12,000,000 | |||
Reserve recorded related to pre-petition receivables | 0 | |||
Long-lived assets used in producing electric output for sale | 106,000,000 | |||
Impairment loss | 0 | |||
Equity investments, including note receivable | 77,000,000 | |||
Other than temporary decline in equity investments | $ 0 | |||
Synthetic fuel guarantees | ||||
Loss Contingencies [Line Items] | ||||
Number of days after expiration of statutes of limitations | 90 days | |||
Maximum potential liability | $ 400,000,000 | |||
Reduced emissions fuel guarantees | ||||
Loss Contingencies [Line Items] | ||||
Number of days after expiration of statutes of limitations | 90 days | |||
Maximum potential liability | $ 359,000,000 | |||
NEXUS Pipeline | DTE Gas | ||||
Loss Contingencies [Line Items] | ||||
Maximum potential liability | $ 242,000,000 | |||
Guarantee termination, minimum threshold, period following end of primary term of capacity lease agreements | 2 months | |||
NEXUS Pipeline | Texas Eastern Transmission, LP | ||||
Loss Contingencies [Line Items] | ||||
Maximum potential liability | $ 377,000,000 | |||
Percentage of all payment obligations due and payable | 50.00% | |||
Guarantee termination, minimum threshold, period following end of primary term of capacity lease agreements | 2 months | |||
NEXUS Pipeline | Vector | ||||
Loss Contingencies [Line Items] | ||||
Maximum potential liability | $ 7,000,000 | |||
Percentage of all payment obligations due and payable | 50.00% | |||
Guarantee termination, minimum threshold, period following end of primary term of capacity lease agreements | 15 years | |||
Other guarantees | ||||
Loss Contingencies [Line Items] | ||||
Maximum potential liability | $ 64,000,000 | |||
Performance surety bonds | ||||
Loss Contingencies [Line Items] | ||||
Performance bonds outstanding | $ 76,000,000 | |||
Reduction of Carbon Emissions by early 2020's | ||||
Loss Contingencies [Line Items] | ||||
Goal to reduce carbon emissions, percentage | 30.00% | |||
Reduction of Carbon Emissions by 2030 | ||||
Loss Contingencies [Line Items] | ||||
Goal to reduce carbon emissions, percentage | 45.00% | |||
Reduction of Carbon Emissions by 2040 | ||||
Loss Contingencies [Line Items] | ||||
Goal to reduce carbon emissions, percentage | 75.00% | |||
Reduction of Carbon Emissions by 2050 | ||||
Loss Contingencies [Line Items] | ||||
Goal to reduce carbon emissions, percentage | 80.00% | |||
DTE Electric | ||||
Loss Contingencies [Line Items] | ||||
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 | $ 7,000,000 | 6,000,000 | ||
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 | |||
Utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees estimated for next year | $ 2,200,000,000 | |||
Accounts receivable | 750,000,000 | 791,000,000 | ||
Reserve recorded related to pre-petition receivables | 53,000,000 | 31,000,000 | ||
Long-lived assets used in producing electric output for sale | $ 15,437,000,000 | 14,988,000,000 | ||
DTE Electric | Labor force concentration risk | Workforce subject to collective bargaining arrangements | ||||
Loss Contingencies [Line Items] | ||||
Approximate number of employees | employee | 2,800 | |||
DTE Electric | Coal combustion residual rule | ||||
Loss Contingencies [Line Items] | ||||
Estimated cost associated with building new facilities | $ 565,000,000 | |||
DTE Gas | ||||
Loss Contingencies [Line Items] | ||||
Number of former MGP sites | site | 14 | |||
Accrued for remediation related to the sites | $ 25,000,000 | $ 41,000,000 | ||
Amortization period for MGP costs (in years) | 10 years | |||
DTE Gas | NEXUS Pipeline | DTE Gas | ||||
Loss Contingencies [Line Items] | ||||
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 | |||
NEXUS | NEXUS Pipeline | DTE Gas | ||||
Loss Contingencies [Line Items] | ||||
Capacity lease agreement term | 15 years | |||
NEXUS | NEXUS Pipeline | Texas Eastern Transmission, LP | ||||
Loss Contingencies [Line Items] | ||||
Capacity lease agreement term | 15 years | |||
NEXUS | NEXUS Pipeline | Vector | ||||
Loss Contingencies [Line Items] | ||||
Capacity lease agreement term | 15 years |
Commitments and Contingencies_3
Commitments and Contingencies (Purchase Commitments) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2,019 | $ 2,691 |
2,020 | 1,311 |
2,021 | 632 |
2,022 | 409 |
2,023 | 351 |
2024 and thereafter | 1,953 |
Total purchase commitments | 7,347 |
DTE Electric | |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2,019 | 777 |
2,020 | 541 |
2,021 | 171 |
2,022 | 88 |
2,023 | 85 |
2024 and thereafter | 737 |
Total purchase commitments | $ 2,399 |
Nuclear Operations (Details)
Nuclear Operations (Details) - DTE Electric $ in Millions | May 16, 2014kWh | May 15, 2014$ / MWh | Dec. 31, 2018USD ($) |
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 | 41 | ||
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 | 138 | ||
Limit of deferred premium charges per year per facility | $ 20 | ||
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 Trust_3
Retirement Benefits and Trusteed Assets (Pension Plan - Pension Cost Inclusions) (Details) - Pension plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | $ 99 | $ 92 | $ 92 |
Interest cost | 202 | 214 | 219 |
Expected return on plan assets | (329) | (311) | (309) |
Amortization of: | |||
Net actuarial loss | 176 | 176 | 164 |
Prior service cost | 0 | 1 | 1 |
Net pension cost/other postretirement credit | $ 148 | $ 172 | $ 167 |
Retirement Benefits and Trust_4
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, 2018 | Dec. 31, 2017 | |
Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial loss | $ 125 | $ 27 |
Amortization of net actuarial loss | (176) | (176) |
Prior service credit | 0 | (11) |
Amortization of prior service cost | 0 | (1) |
Total recognized in Regulatory assets and Other comprehensive income (loss) | (51) | (161) |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | 97 | 11 |
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 | 131 | 178 |
Prior service cost | $ 1 | $ 0 |
Retirement Benefits and Trust_5
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Amounts recognized in Regulatory assets | |||
Regulatory assets | $ 4,721 | $ 3,778 | |
Pension plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] | |||
Accumulated benefit obligation, end of year | 4,779 | 5,149 | |
Change in projected benefit obligation | |||
Projected/Accumulated postretirement benefit obligation, beginning of year | 5,576 | 5,171 | |
Service cost | 99 | 92 | $ 92 |
Interest cost | 202 | 214 | 219 |
Plan amendments | 0 | (11) | |
Actuarial (gain) loss | (438) | 391 | |
Benefits paid | (315) | (281) | |
Projected/Accumulated postretirement benefit obligation, end of year | 5,124 | 5,576 | 5,171 |
Change in plan assets | |||
Plan assets at fair value, beginning of year | 4,636 | 4,012 | |
Actual return on plan assets | (233) | 674 | |
Company contributions | 185 | 231 | |
Benefits paid | (315) | (281) | |
Plan assets at fair value, end of year | 4,273 | 4,636 | $ 4,012 |
Funded status | (851) | (940) | |
Amount recorded as: | |||
Current liabilities | (14) | (16) | |
Noncurrent liabilities | (837) | (924) | |
Defined benefit plans liabilities | (851) | (940) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | 152 | 163 | |
Prior service cost | 5 | 6 | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 157 | 169 | |
Amounts recognized in Regulatory assets | |||
Net actuarial loss | 1,973 | 2,014 | |
Prior service credit | (12) | (14) | |
Regulatory assets | $ 1,961 | $ 2,000 |
Retirement Benefits and Trust_6
Retirement Benefits and Trusteed Assets (Pension Plan - Contributions) (Details) - Pension Plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Cash contributions to qualified pension plans | $ 185 | $ 231 | |
Qualified Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Cash contributions to qualified pension plans | 175 | 223 | $ 179 |
Qualified Plan | DTE Electric | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Cash contributions to qualified pension plans | $ 175 | $ 185 | $ 145 |
Retirement Benefits and Trust_7
Retirement Benefits and Trusteed Assets (Pension Plan - Contributions to DTE Energy Company Affiliates Employee Benefit Plans Master Trust) (Details) - USD ($) $ / shares in Units, $ in Millions | Mar. 07, 2018 | Dec. 31, 2018 |
Defined Contribution Plan Disclosure [Line Items] | ||
Amount | $ 175 | |
Pension Plan | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Number of Shares (in shares) | 1,751,401 | |
Price per Share (in dollars per share) | $ 99.92 | |
Amount | $ 175 |
Retirement Benefits and Trust_8
Retirement Benefits and Trusteed Assets (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined contribution plan, cost recognized | $ 61 | $ 57 | $ 51 | |
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 | $ 29 | 27 | 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 for next fiscal year | 7.30% | |||
Pension plan | DTE Electric | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Allocated pension benefit costs | $ 175 | $ 120 | 136 | 136 |
Pension plan | Maximum | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Estimated future employer contributions in next fiscal year | 150 | |||
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 | $ 100 | |||
Other postretirement benefit plan | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Expected return on plan assets for next fiscal year | 7.75% | |||
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 | $ 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 | 4 | |||
Defined benefit plan, effect of one percentage point decrease on accumulated postretirement benefit obligation | 63 | |||
Other postretirement benefit plan | DTE Electric | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined benefit plan, effect of one percentage point increase on service and interest cost components | 3 | |||
Defined benefit plan, effect of one percentage point increase on accumulated postretirement benefit obligation | 51 | |||
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 | 45 | |||
Retiree healthcare plan | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined contribution plan, cost recognized | 11 | 8 | 6 | |
Retiree healthcare plan | DTE Electric | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Defined contribution plan, cost recognized | $ 5 | $ 5 | $ 5 |
Retirement Benefits and Trust_9
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, 2018USD ($) |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2,019 | $ 311 |
2,020 | 317 |
2,021 | 317 |
2,022 | 323 |
2,023 | 332 |
2024-2028 | 1,713 |
Total | $ 3,313 |
Retirement Benefits and Trus_10
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Projected benefit obligation | |||
Discount rate | 4.40% | 3.70% | 4.25% |
Rate of compensation increase | 4.98% | 4.98% | 4.65% |
Net pension costs | |||
Discount rate | 3.70% | 4.25% | 4.50% |
Rate of compensation increase | 4.98% | 4.65% | 4.65% |
Expected long-term rate of return on plan assets | 7.50% | 7.50% | 7.75% |
Retirement Benefits and Trus_11
Retirement Benefits and Trusteed Assets (Pension Plan - Target Allocations of Plan Assets) (Details) - Pension plan | Dec. 31, 2018 |
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 | 15.00% |
Fixed Income Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 42.00% |
Hedge Funds and Similar Investments | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 15.00% |
Private Equity and Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 8.00% |
Retirement Benefits and Trus_12
Retirement Benefits and Trusteed Assets (Pension Plan - Fair Value Measurements) (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 4,273 | $ 4,636 | $ 4,012 |
Assets valued at NAV | 1,181 | 1,201 | |
Short-term Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 27 | 114 | |
U.S. Large Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 609 | 826 | |
U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 124 | 234 | |
Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 586 | 822 | |
Assets valued at NAV | 240 | 280 | |
Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,898 | 1,454 | |
Assets valued at NAV | 0 | 0 | |
Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 630 | 858 | |
Assets valued at NAV | 542 | 593 | |
Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 399 | 328 | |
Assets valued at NAV | 399 | 328 | |
Securities Lending | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (30) | (66) | |
Securities Lending Collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 30 | 66 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,160 | 1,845 | |
Level 1 | Short-term Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 0 | |
Level 1 | U.S. Large Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 606 | 821 | |
Level 1 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 123 | 229 | |
Level 1 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 337 | 529 | |
Level 1 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 6 | 1 | |
Level 1 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 88 | 265 | |
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 | (22) | (53) | |
Level 1 | Securities Lending Collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 22 | 53 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,932 | 1,590 | |
Level 2 | Short-term Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 27 | 114 | |
Level 2 | U.S. Large Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 3 | 5 | |
Level 2 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1 | 5 | |
Level 2 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 9 | 13 | |
Level 2 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,892 | 1,453 | |
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 | (8) | (13) | |
Level 2 | Securities Lending Collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 8 | $ 13 |
Retirement Benefits and Trus_13
Retirement Benefits and Trusteed Assets (OPEB - Postretirement Cost Inclusions) (Details) - Other postretirement benefit plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 27 | $ 27 | $ 27 |
Interest cost | 69 | 73 | 80 |
Expected return on plan assets | (143) | (130) | (129) |
Amortization of: | |||
Net actuarial loss | 11 | 13 | 30 |
Prior service credit | 0 | (14) | (118) |
Other | 0 | 0 | (1) |
Net pension cost/other postretirement credit | (36) | (31) | (111) |
DTE Electric | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 20 | 20 | 20 |
Interest cost | 53 | 56 | 61 |
Expected return on plan assets | (98) | (90) | (90) |
Amortization of: | |||
Net actuarial loss | 8 | 8 | 21 |
Prior service credit | 0 | (10) | (89) |
Net pension cost/other postretirement credit | $ (17) | $ (16) | $ (77) |
Retirement Benefits and Trus_14
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, 2018 | Dec. 31, 2017 | |
Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial (gain) loss | $ (8) | $ (21) |
Amortization of net actuarial loss | (11) | (13) |
Prior service credit | (44) | (1) |
Amortization of prior service (cost) credit | 0 | 14 |
Total recognized in Regulatory assets and Other comprehensive income (loss) | (63) | (21) |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | (99) | (52) |
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 | 12 | 11 |
Prior service credit | (9) | (1) |
DTE Electric | ||
Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial (gain) loss | (46) | 2 |
Amortization of net actuarial loss | (8) | (8) |
Amortization of prior service (cost) credit | (35) | 10 |
Total recognized in Regulatory assets and Other comprehensive income (loss) | (89) | 4 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | (106) | (12) |
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 | 5 | 8 |
Prior service credit | $ (7) | $ 0 |
Retirement Benefits and Trus_15
Retirement Benefits and Trusteed Assets (OPEB - Reconciliation of Obligations, Assets and Funded Status of Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Amounts recognized in Regulatory assets | |||
Regulatory assets | $ 4,721 | $ 3,778 | |
Other postretirement benefit plan | |||
Change in accumulated postretirement benefit obligation | |||
Projected/Accumulated postretirement benefit obligation, beginning of year | 1,910 | 1,795 | |
Service cost | 27 | 27 | $ 27 |
Interest cost | 69 | 73 | 80 |
Plan amendments | (44) | 0 | |
Actuarial (gain) loss | (227) | 101 | |
Benefits paid | (90) | (86) | |
Projected/Accumulated postretirement benefit obligation, end of year | 1,645 | 1,910 | 1,795 |
Change in plan assets | |||
Plan assets at fair value, beginning of year | 1,848 | 1,758 | |
Actual return on plan assets | (75) | 252 | |
Benefits paid | (84) | (162) | |
Plan assets at fair value, end of year | 1,689 | 1,848 | 1,758 |
Funded status | 44 | (62) | |
Amount recorded as: | |||
Noncurrent assets | 45 | 0 | |
Current liabilities | (1) | (1) | |
Noncurrent liabilities | 0 | (61) | |
Defined benefit plans assets (liabilities) | 44 | (62) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial (gain) loss | 1 | (1) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 1 | (1) | |
Amounts recognized in Regulatory assets | |||
Net actuarial loss | 257 | 279 | |
Prior service credit | (44) | (1) | |
Regulatory assets | 213 | 278 | |
DTE Electric | |||
Amounts recognized in Regulatory assets | |||
Regulatory assets | 3,977 | 3,055 | |
DTE Electric | Other postretirement benefit plan | |||
Change in accumulated postretirement benefit obligation | |||
Projected/Accumulated postretirement benefit obligation, beginning of year | 1,470 | 1,373 | |
Service cost | 20 | 20 | 20 |
Interest cost | 53 | 56 | 61 |
Plan amendments | (35) | 0 | |
Actuarial (gain) loss | (196) | 84 | |
Benefits paid | (65) | (63) | |
Projected/Accumulated postretirement benefit obligation, end of year | 1,247 | 1,470 | 1,373 |
Change in plan assets | |||
Plan assets at fair value, beginning of year | 1,272 | 1,218 | |
Actual return on plan assets | (52) | 172 | |
Benefits paid | (62) | (118) | |
Plan assets at fair value, end of year | 1,158 | 1,272 | $ 1,218 |
Funded status | (89) | (198) | |
Amount recorded as: | |||
Noncurrent assets | 189 | 113 | |
Current liabilities | 0 | 0 | |
Noncurrent liabilities | (278) | (311) | |
Defined benefit plans assets (liabilities) | (89) | (198) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial (gain) loss | 0 | 0 | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 0 | 0 | |
Amounts recognized in Regulatory assets | |||
Net actuarial loss | 156 | 211 | |
Prior service credit | (35) | 0 | |
Regulatory assets | $ 121 | $ 211 |
Retirement Benefits and Trus_16
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, 2018USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,019 | $ 88 |
2,020 | 92 |
2,021 | 96 |
2,022 | 100 |
2,023 | 102 |
2024-2028 | 532 |
Total | 1,010 |
DTE Electric | |
Defined Benefit Plan Disclosure [Line Items] | |
2,019 | 66 |
2,020 | 70 |
2,021 | 73 |
2,022 | 75 |
2,023 | 77 |
2024-2028 | 402 |
Total | $ 763 |
Retirement Benefits and Trus_17
Retirement Benefits and Trusteed Assets (OPEB - Assumptions used in Determining the PBO and Net Pension Costs) (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | 4.40% | 3.70% | 4.25% |
Health care trend rate pre- 65 | 6.75% | 6.75% | 6.50% |
Health care trend post- 65 | 7.25% | 7.25% | 6.75% |
Ultimate health care trend rate | 4.50% | 4.50% | 4.50% |
Other postretirement benefit costs | |||
Discount rate | 3.70% | 4.25% | 4.50% |
Expected long-term rate of return on plan assets | 7.75% | 7.75% | 8.00% |
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% |
Retirement Benefits and Trus_18
Retirement Benefits and Trusteed Assets (OPEB - Target Allocations of Plan Assets) (Details) - Other postretirement benefit plan | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 100.00% |
U.S. Large 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 | 19.00% |
Fixed Income Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 28.00% |
Hedge Funds and Similar Investments | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 19.00% |
Private Equity and Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage of assets | 14.00% |
Retirement Benefits and Trus_19
Retirement Benefits and Trusteed Assets (OPEB - Fair Value Measurements) (Details) - Other postretirement benefit plan - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 1,689 | $ 1,848 | $ 1,758 |
Assets valued at NAV | 681 | 660 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 656 | 861 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 352 | 327 | |
Short-term Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 16 | 15 | |
Short-term Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 14 | 13 | |
Short-term Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 2 | 2 | |
U.S. Large Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 225 | 284 | |
U.S. Large Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 225 | 284 | |
U.S. Large 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 | 75 | 131 | |
U.S. Small Cap and Mid Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 75 | 131 | |
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 | 301 | 366 | |
Assets valued at NAV | 67 | 77 | |
Non-U.S. Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 234 | 288 | |
Non-U.S. Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 1 | |
Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 491 | 483 | |
Assets valued at NAV | 130 | 130 | |
Fixed Income Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 11 | 29 | |
Fixed Income Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 350 | 324 | |
Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 300 | 335 | |
Assets valued at NAV | 203 | 219 | |
Hedge Funds and Similar Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 97 | 116 | |
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 | 281 | 234 | |
Assets valued at NAV | 281 | 234 | |
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 | (22) | (40) | |
Securities Lending | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (21) | (39) | |
Securities Lending | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (1) | (1) | |
Securities Lending Collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 22 | 40 | |
Securities Lending Collateral | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 21 | 39 | |
Securities Lending Collateral | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1 | 1 | |
DTE Electric | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 1,158 | 1,272 | $ 1,218 |
Assets valued at NAV | 471 | 457 | |
DTE Electric | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 454 | 595 | |
DTE Electric | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 233 | 220 | |
DTE Electric | Short-term Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 11 | 10 | |
DTE Electric | Short-term Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 10 | 9 | |
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 Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 154 | 195 | |
DTE Electric | U.S. Large Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 154 | 195 | |
DTE Electric | U.S. Large 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 | 52 | 91 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 52 | 91 | |
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 | 208 | 253 | |
Assets valued at NAV | 45 | 52 | |
DTE Electric | Non-U.S. Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 163 | 200 | |
DTE Electric | Non-U.S. Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | 1 | |
DTE Electric | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 331 | 330 | |
Assets valued at NAV | 92 | 92 | |
DTE Electric | Fixed Income Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 7 | 20 | |
DTE Electric | Fixed Income Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 232 | 218 | |
DTE Electric | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 207 | 230 | |
Assets valued at NAV | 139 | 150 | |
DTE Electric | Hedge Funds and Similar Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 68 | 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 | 195 | 163 | |
Assets valued at NAV | 195 | 163 | |
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 | (15) | (28) | |
DTE Electric | Securities Lending | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | (15) | (27) | |
DTE Electric | Securities Lending | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 0 | (1) | |
DTE Electric | Securities Lending Collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 15 | 28 | |
DTE Electric | Securities Lending Collateral | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | 15 | 27 | |
DTE Electric | Securities Lending Collateral | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value | $ 0 | $ 1 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) | 12 Months Ended | ||
Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Authorized limit of common stock shares (in shares) | 16,500,000 | ||
Performance units price per unit (in dollars per share) | 1 | ||
Remaining contractual term (in years) | 1 year 1 month 10 days | ||
Options vested (in shares) | 0 | ||
Options grants in period (in shares) | 0 | 0 | |
Options, exercises, intrinsic value | $ | $ 4,000,000 | $ 4,000,000 | $ 4,000,000 |
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) | $ | $ 38,000,000 | 34,000,000 | 38,000,000 |
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 | $ 11,000,000 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Components of stock based-compensation [Abstract] | |||
Stock-based compensation expense | $ 64 | $ 58 | $ 61 |
Tax benefit | 13 | 23 | 24 |
Stock-based compensation cost capitalized in Property, plant, and equipment | $ 11 | $ 9 | $ 10 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Option Activity) (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($)$ / sharesshares | |
Number of Options | |
Options outstanding beginning of the year (in shares) | shares | 105,994 |
Exercised (in shares) | shares | (53,894) |
Options outstanding end of the year (in shares) | shares | 52,100 |
Weighted Average Exercise Price | |
Options outstanding beginning of the year (in dollars per share) | $ / shares | $ 42.95 |
Exercised (in dollars per share) | $ / shares | 42.62 |
Options outstanding end of the year (in dollars per share) | $ / shares | $ 43.30 |
Options outstanding, Aggregate Intrinsic Value | $ | $ 4 |
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, 2018$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Options (in shares) | shares | 52,100 |
Weighted Average Exercise Price (in dollars per share) | $ 43.30 |
Weighted Average Remaining Contractual Life (Years) | 1 year 1 month 10 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 | 2,100 |
Weighted Average Exercise Price (in dollars per share) | $ 27.70 |
Weighted Average Remaining Contractual Life (Years) | 1 month 28 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 | 50,000 |
Weighted Average Exercise Price (in dollars per share) | $ 43.95 |
Weighted Average Remaining Contractual Life (Years) | 1 year 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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of awards vested | $ 11 | $ 10 | $ 9 |
Restricted common shares awarded (in shares) | 109,393 | 136,825 | 145,240 |
Weighted average market price of shares awarded (in dollars per share) | $ 105.80 | $ 99.53 | $ 87.28 |
Compensation cost charged against income | $ 11 | $ 11 | $ 11 |
Stock Based-Compensation (Stock
Stock Based-Compensation (Stock Awards Activity Rollforward) (Details) - Restricted Stock - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Restricted Stock | |||
Balance at beginning of the period (in shares) | 365,764 | ||
Grants (in shares) | 109,393 | 136,825 | 145,240 |
Forfeitures (in shares) | (21,939) | ||
Vested and issued (in shares) | (125,813) | ||
Balance at end of period (in shares) | 327,405 | 365,764 | |
Weighted Average Grant Date Fair Value | |||
Balance at beginning of period (in dollars per share) | $ 90.26 | ||
Grants (in dollars per share) | 105.80 | $ 99.53 | $ 87.28 |
Forfeitures (in dollars per share) | 98.59 | ||
Vested and issued (in dollars per share) | 85.24 | ||
Balance at end of period (in dollars per share) | $ 96.79 | $ 90.26 |
Stock-Based Compensation (Perfo
Stock-Based Compensation (Performance Share Awards Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Compensation Expense Recorded [Line Items] | |||
Compensation expense | $ 64 | $ 58 | $ 61 |
Performance Share Awards | |||
Compensation Expense Recorded [Line Items] | |||
Compensation expense | 53 | 47 | 50 |
Cash settlements | 13 | 15 | 7 |
Stock settlements | $ 39 | $ 66 | $ 38 |
Stock-Based Compensation (Per_2
Stock-Based Compensation (Performance Share Awards Activity) (Details) - Performance shares | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Performance Shares | |
Balance at beginning of period (in shares) | shares | 1,324,401 |
Grants (in shares) | shares | 437,508 |
Forfeitures (in shares) | shares | (56,435) |
Payouts (in shares) | shares | (418,788) |
Balance at end of period (in shares) | shares | 1,286,686 |
Weighted Average Grant Date Fair Value | |
Balance at beginning of period (in dollars per share) | $ / shares | $ 90.31 |
Grants (in dollars per share) | $ / shares | 105.64 |
Forfeitures (in dollars per share) | $ / shares | 96.02 |
Payouts (in dollars per share) | $ / shares | 84.84 |
Balance at end of period (in dollars per share) | $ / shares | $ 97.17 |
Stock-Based Compensation (Unrec
Stock-Based Compensation (Unrecognized Compensation Costs) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 71 |
Weighted Average to be Recognized | 1 year 15 days |
Stock awards | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 12 |
Weighted Average to be Recognized | 1 year 11 days |
Performance shares | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 59 |
Weighted Average to be Recognized | 1 year 15 days |
Segment and Related Informati_3
Segment and Related Information (Details) customer in Millions | Dec. 31, 2018customer |
Segment Reporting [Abstract] | |
Number of electric utility customers | 2.2 |
Number of gas utility customers | 1.3 |
Segment and Related Informati_4
Segment and Related Information (Financial Data - Inter-Segment Billing) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ (3,750) | $ (3,550) | $ (3,159) | $ (3,753) | $ (3,271) | $ (3,245) | $ (2,855) | $ (3,236) | $ (14,212) | $ (12,607) | $ (10,630) |
Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | (5,298) | ||||||||||
Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | (1,436) | ||||||||||
Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | (485) | ||||||||||
Power and Industrial Projects | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | (2,204) | ||||||||||
Energy Trading | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | (5,557) | ||||||||||
Reclassifications and Eliminations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 771 | 704 | 704 | ||||||||
Reclassifications and Eliminations | Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 52 | 48 | 43 | ||||||||
Reclassifications and Eliminations | Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 12 | 8 | 9 | ||||||||
Reclassifications and Eliminations | Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 36 | 42 | 9 | ||||||||
Reclassifications and Eliminations | Power and Industrial Projects | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 642 | 569 | 602 | ||||||||
Reclassifications and Eliminations | Energy Trading | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 27 | 35 | 39 | ||||||||
Reclassifications and Eliminations | Corporate and Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 2 | $ 2 | $ 2 |
Segment and Related Informati_5
Segment and Related Information (Financial Data - Operating Revenues Including Inter-Segment Revenues) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | $ 6,670 | $ 6,434 | $ 6,497 | ||||||||
Operating Revenues — Non-utility operations | 7,542 | 6,173 | 4,133 | ||||||||
Depreciation and amortization | 1,124 | 1,030 | 976 | ||||||||
Interest expense | 559 | 536 | 472 | ||||||||
Interest income | (12) | (12) | (20) | ||||||||
Equity in earnings of equity method investees | 132 | 102 | 68 | ||||||||
Income Tax Expense (Benefit) | 98 | 175 | 271 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | $ 191 | $ 334 | $ 234 | $ 361 | $ 287 | $ 270 | $ 177 | $ 400 | 1,120 | 1,134 | 868 |
Investments in equity method investees | 1,771 | 1,073 | 1,771 | 1,073 | 752 | ||||||
Capital expenditures and acquisitions | 2,713 | 2,250 | 3,269 | ||||||||
Goodwill | 2,293 | 2,293 | 2,293 | 2,293 | 2,286 | ||||||
Total Assets | 36,288 | 33,767 | 36,288 | 33,767 | 32,041 | ||||||
Effect of the Tax Cuts and Jobs Act of 2017 | (105) | 21 | (105) | 0 | |||||||
Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Investments in equity method investees | 1,585 | 879 | 1,585 | 879 | |||||||
Operating Segments | Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 5,298 | 5,102 | 5,225 | ||||||||
Operating Revenues — Non-utility operations | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 836 | 753 | 750 | ||||||||
Interest expense | 283 | 274 | 264 | ||||||||
Interest income | 0 | 0 | (8) | ||||||||
Equity in earnings of equity method investees | 0 | 1 | 2 | ||||||||
Income Tax Expense (Benefit) | 193 | 321 | 353 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 664 | 606 | 622 | ||||||||
Investments in equity method investees | 7 | 7 | 7 | 7 | 11 | ||||||
Capital expenditures and acquisitions | 1,979 | 1,574 | 1,503 | ||||||||
Goodwill | 1,208 | 1,208 | 1,208 | 1,208 | 1,208 | ||||||
Total Assets | 22,501 | 21,163 | 22,501 | 21,163 | 20,417 | ||||||
Operating Segments | Electric | Non-utility Entities | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Effect of the Tax Cuts and Jobs Act of 2017 | (5) | ||||||||||
Operating Segments | Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 1,436 | 1,388 | 1,324 | ||||||||
Operating Revenues — Non-utility operations | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 133 | 123 | 106 | ||||||||
Interest expense | 70 | 65 | 60 | ||||||||
Interest income | (6) | (7) | (6) | ||||||||
Equity in earnings of equity method investees | 2 | 2 | 6 | ||||||||
Income Tax Expense (Benefit) | 67 | 78 | 77 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 150 | 146 | 138 | ||||||||
Investments in equity method investees | 12 | 11 | 12 | 11 | 10 | ||||||
Capital expenditures and acquisitions | 460 | 463 | 395 | ||||||||
Goodwill | 743 | 743 | 743 | 743 | 743 | ||||||
Total Assets | 5,378 | 5,072 | 5,378 | 5,072 | 4,729 | ||||||
Operating Segments | Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | 0 | 0 | 0 | ||||||||
Operating Revenues — Non-utility operations | 485 | 453 | 302 | ||||||||
Depreciation and amortization | 82 | 76 | 45 | ||||||||
Interest expense | 68 | 77 | 39 | ||||||||
Interest income | (9) | (14) | (9) | ||||||||
Equity in earnings of equity method investees | 123 | 90 | 60 | ||||||||
Income Tax Expense (Benefit) | 68 | (30) | 71 | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 235 | 275 | 119 | ||||||||
Investments in equity method investees | 1,585 | 879 | 1,585 | 879 | 538 | ||||||
Capital expenditures and acquisitions | 176 | 137 | 1,322 | ||||||||
Goodwill | 299 | 299 | 299 | 299 | 292 | ||||||
Total Assets | 3,161 | 2,594 | 3,161 | 2,594 | 2,417 | ||||||
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 | 2,204 | 2,089 | 1,906 | ||||||||
Depreciation and amortization | 67 | 72 | 72 | ||||||||
Interest expense | 31 | 29 | 32 | ||||||||
Interest income | (9) | (7) | (8) | ||||||||
Equity in earnings of equity method investees | 3 | 9 | 0 | ||||||||
Income Tax Expense (Benefit) | (195) | (195) | (140) | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 161 | 138 | 95 | ||||||||
Investments in equity method investees | 134 | 150 | 134 | 150 | 166 | ||||||
Capital expenditures and acquisitions | 91 | 56 | 39 | ||||||||
Goodwill | 26 | 26 | 26 | 26 | 26 | ||||||
Total Assets | 495 | 593 | 495 | 593 | 683 | ||||||
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 | 5,557 | 4,277 | 2,575 | ||||||||
Depreciation and amortization | 5 | 5 | 3 | ||||||||
Interest expense | 6 | 5 | 6 | ||||||||
Interest income | (3) | (2) | (1) | ||||||||
Equity in earnings of equity method investees | 0 | 0 | 0 | ||||||||
Income Tax Expense (Benefit) | 13 | 49 | (29) | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | 39 | 72 | (45) | ||||||||
Investments in equity method investees | 0 | 0 | 0 | 0 | 0 | ||||||
Capital expenditures and acquisitions | 5 | 7 | 7 | ||||||||
Goodwill | 17 | 17 | 17 | 17 | 17 | ||||||
Total Assets | 909 | 725 | 909 | 725 | 660 | ||||||
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 | 3 | 2 | 2 | ||||||||
Depreciation and amortization | 1 | 1 | 0 | ||||||||
Interest expense | 220 | 192 | 148 | ||||||||
Interest income | (104) | (88) | (65) | ||||||||
Equity in earnings of equity method investees | 4 | 0 | 0 | ||||||||
Income Tax Expense (Benefit) | (48) | (48) | (61) | ||||||||
Net Income (Loss) Attributable to DTE Energy Company | (129) | (103) | (61) | ||||||||
Investments in equity method investees | 33 | 26 | 33 | 26 | 27 | ||||||
Capital expenditures and acquisitions | 2 | 13 | 3 | ||||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | 6,153 | 5,324 | 6,153 | 5,324 | 4,648 | ||||||
Effect of the Tax Cuts and Jobs Act of 2017 | 34 | ||||||||||
Reclassifications and Eliminations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues — Utility operations | (64) | (56) | (52) | ||||||||
Operating Revenues — Non-utility operations | (707) | (648) | (652) | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Interest expense | (119) | (106) | (77) | ||||||||
Interest income | 119 | 106 | 77 | ||||||||
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 | $ (2,309) | $ (1,704) | $ (2,309) | $ (1,704) | $ (1,513) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Related Party Transaction [Line Items] | |||
Dividends declared | $ 653,000,000 | $ 602,000,000 | $ 548,000,000 |
Dividends paid | 620,000,000 | 592,000,000 | 531,000,000 |
DTE Electric | |||
Related Party Transaction [Line Items] | |||
Other services | (4,000,000) | (4,000,000) | (1,000,000) |
Dividends declared | 461,000,000 | 432,000,000 | 420,000,000 |
Dividends paid | 461,000,000 | 432,000,000 | 420,000,000 |
DTE Electric | Energy sales | |||
Related Party Transaction [Line Items] | |||
Revenues | 9,000,000 | 9,000,000 | 10,000,000 |
DTE Electric | Shared capital assets | |||
Related Party Transaction [Line Items] | |||
Revenues | 43,000,000 | 39,000,000 | 33,000,000 |
DTE Electric | Fuel and purchased power | |||
Related Party Transaction [Line Items] | |||
Costs | 7,000,000 | 6,000,000 | 10,000,000 |
DTE Electric | Other services and interest | |||
Related Party Transaction [Line Items] | |||
Costs | 33,000,000 | (2,000,000) | (1,000,000) |
DTE Electric | Corporate expenses, net | |||
Related Party Transaction [Line Items] | |||
Costs | 377,000,000 | 370,000,000 | 370,000,000 |
DTE Electric | DTE Energy | |||
Related Party Transaction [Line Items] | |||
Dividends declared | 461,000,000 | 432,000,000 | 420,000,000 |
Dividends paid | 461,000,000 | 432,000,000 | 420,000,000 |
Capital contribution from DTE Energy | 325,000,000 | 100,000,000 | 120,000,000 |
DTE Electric | DTE Energy Foundation | |||
Related Party Transaction [Line Items] | |||
Charitable contributions to foundation | $ 0 | $ 7,000,000 | $ 0 |
Supplementary Quarterly Finan_3
Supplementary Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Entity Information [Line Items] | |||||||||||
Operating Revenues | $ 3,750 | $ 3,550 | $ 3,159 | $ 3,753 | $ 3,271 | $ 3,245 | $ 2,855 | $ 3,236 | $ 14,212 | $ 12,607 | $ 10,630 |
Operating Income | 332 | 429 | 329 | 504 | 372 | 434 | 320 | 585 | 1,594 | 1,711 | 1,486 |
Net Income | $ 191 | $ 334 | $ 234 | $ 361 | $ 287 | $ 270 | $ 177 | $ 400 | $ 1,120 | $ 1,134 | $ 868 |
Basic Earnings per Share (in dollars per share) | $ 1.05 | $ 1.84 | $ 1.29 | $ 2.01 | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 6.18 | $ 6.32 | $ 4.84 |
Diluted Earnings per Share (in dollars per share) | $ 1.05 | $ 1.84 | $ 1.29 | $ 2 | $ 1.60 | $ 1.51 | $ 0.99 | $ 2.23 | $ 6.17 | $ 6.32 | $ 4.83 |
Effect of the Tax Cuts and Jobs Act of 2017 | $ (105) | $ 21 | $ (105) | $ 0 | |||||||
DTE Electric | |||||||||||
Entity Information [Line Items] | |||||||||||
Operating Revenues | $ 1,296 | $ 1,521 | $ 1,276 | $ 1,205 | 1,275 | $ 1,434 | $ 1,218 | $ 1,175 | 5,298 | 5,102 | |
Operating Income | 168 | 444 | 269 | 253 | 281 | 395 | 272 | 217 | 1,134 | 1,165 | 1,204 |
Net Income | $ 56 | $ 305 | $ 163 | $ 140 | $ 138 | $ 219 | $ 138 | $ 106 | 664 | 601 | 622 |
Effect of the Tax Cuts and Jobs Act of 2017 | $ 7 | $ 0 | $ 0 |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Energy's Consolidated Statements of Financial Position) | |||
Balance at Beginning of Period | $ 49 | ||
Additions: | |||
Balance at End of Period | 91 | $ 49 | |
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 | 31 | ||
Additions: | |||
Balance at End of Period | 53 | 31 | |
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 | 49 | 41 | $ 49 |
Additions: | |||
Charged to costs and expenses | 140 | 80 | 78 |
Charged to other accounts | 55 | 26 | 18 |
Deductions | (153) | (98) | (104) |
Balance at End of Period | 91 | 49 | 41 |
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 | 31 | 25 | 28 |
Additions: | |||
Charged to costs and expenses | 85 | 55 | 49 |
Charged to other accounts | 36 | 14 | 8 |
Deductions | (99) | (63) | (60) |
Balance at End of Period | $ 53 | $ 31 | $ 25 |
Uncategorized Items - dte-20181
Label | Element | Value |
Accounting Standards Update 2016-09 [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 3,000,000 |
Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 3,000,000 |