Document and Entity Information
Document and Entity Information Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Jan. 29, 2016 | Jun. 30, 2015 | |
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, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 179,476,008 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 12,900,000,000 | ||
DTE Electric | |||
Entity Information [Line Items] | |||
Entity Registrant Name | DTE ELECTRIC CO | ||
Entity Central Index Key | 28,385 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 138,632,324 | ||
Entity Well-known Seasoned Issuer | No | ||
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, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Revenues | |||
Utility operations | $ 6,238 | $ 6,884 | $ 6,643 |
Non-utility operations | 4,099 | 5,417 | 3,018 |
Operating Revenues | 10,337 | 12,301 | 9,661 |
Operating Expenses | |||
Fuel, purchased power, and gas — utility | 2,081 | 2,407 | 2,281 |
Fuel, purchased power, and gas — non-utility | 3,481 | 4,615 | 2,544 |
Operation and maintenance | 2,214 | 2,204 | 2,208 |
Depreciation and amortization | 852 | 1,145 | 1,094 |
Taxes other than income | 364 | 352 | 340 |
Asset (gains) losses and impairments, net | 106 | (12) | (9) |
Total operating expenses | 9,098 | 10,711 | 8,458 |
Operating Income | 1,239 | 1,590 | 1,203 |
Other (Income) and Deductions | |||
Interest expense | 450 | 429 | 436 |
Interest income | (13) | (10) | (9) |
Other income | (209) | (196) | (201) |
Other expenses | 61 | 92 | 55 |
Total Other (Income) and Deductions | 289 | 315 | 281 |
Income Before Income Taxes | 950 | 1,275 | 922 |
Income Tax Expense (Benefit) | 230 | 364 | 254 |
Net Income | 720 | 911 | 668 |
Less: Net Income (Loss) Attributable to Noncontrolling Interests | (7) | 6 | 7 |
Net Income | $ 727 | $ 905 | $ 661 |
Basic Earnings per Common Share | |||
Net Income Attributable to DTE Energy Company (in dollars per share) | $ 4.05 | $ 5.11 | $ 3.76 |
Diluted Earnings per Common Share | |||
Net Income Attributable to DTE Energy Company (in dollars per share) | $ 4.05 | $ 5.10 | $ 3.76 |
Weighted Average Common Shares Outstanding | |||
Basic (in shares) | 179 | 177 | 175 |
Diluted (in shares) | 179 | 177 | 175 |
Dividends Declared per Common Share | $ 2.84 | $ 2.69 | $ 2.59 |
DTE Electric | |||
Operating Revenues | |||
Operating Revenues | $ 4,900 | $ 5,282 | $ 5,197 |
Operating Expenses | |||
Fuel, purchased power, and gas — utility | 1,574 | 1,706 | 1,668 |
Operation and maintenance | 1,342 | 1,331 | 1,376 |
Depreciation and amortization | 633 | 927 | 896 |
Taxes other than income | 277 | 267 | 260 |
Asset (gains) losses and impairments, net | 0 | (1) | (3) |
Total operating expenses | 3,826 | 4,230 | 4,197 |
Operating Income | 1,074 | 1,052 | 1,000 |
Other (Income) and Deductions | |||
Interest expense | 258 | 250 | 268 |
Interest income | 0 | (1) | 0 |
Other income | (60) | (62) | (54) |
Other expenses | 40 | 35 | 45 |
Total Other (Income) and Deductions | 238 | 222 | 259 |
Income Before Income Taxes | 836 | 830 | 741 |
Income Tax Expense (Benefit) | 292 | 298 | 254 |
Net Income | $ 544 | $ 532 | $ 487 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net Income | $ 265 | $ 727 | $ 905 | $ 661 |
Net Income | 720 | 911 | 668 | |
Other comprehensive income (loss), net of tax: | ||||
Benefit obligations, net of taxes of $8, $(9), and $13, respectively DTE Electric $(4), $4 for 2014 and 2013 respectively | 13 | (18) | 22 | |
Net unrealized gains on investments during the period, net of taxes of $—, $1, and $1, respectively DTE Electric $--, $--, and $--, respectively | 1 | 1 | 2 | |
Foreign currency translation | (4) | (2) | (2) | |
Net current-period Other comprehensive income (loss) | 10 | (19) | 22 | |
Comprehensive income | 730 | 892 | 690 | |
Less comprehensive income (loss) attributable to noncontrolling interests | (7) | 6 | 7 | |
Comprehensive income attributable to DTE Energy Company | 737 | 886 | 683 | |
DTE Electric | ||||
Net Income | $ 216 | 544 | 532 | 487 |
Other comprehensive income (loss), net of tax: | ||||
Transfer of benefit obligations, net of taxes of $18 in 2015 | 27 | 0 | 0 | |
Benefit obligations, net of taxes of $8, $(9), and $13, respectively DTE Electric $(4), $4 for 2014 and 2013 respectively | 0 | (10) | 5 | |
Net unrealized gains on investments during the period, net of taxes of $—, $1, and $1, respectively DTE Electric $--, $--, and $--, respectively | 1 | 0 | 1 | |
Net current-period Other comprehensive income (loss) | 28 | (10) | 6 | |
Comprehensive income attributable to DTE Energy Company | $ 572 | $ 522 | $ 493 |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Tax effect on benefit obligation | $ 8 | $ (9) | $ 13 |
Tax effect on net unrealized gains (losses) on investments during the period | 0 | 1 | 1 |
DTE Electric | |||
Benefit obligations | 18 | 0 | 0 |
Tax effect on benefit obligation | 0 | (4) | 4 |
Tax effect on net unrealized gains (losses) on investments during the period | $ 0 | $ 0 | $ 0 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Current Assets | ||
Cash and cash equivalents | $ 37 | $ 48 |
Restricted cash | 23 | 120 |
Accounts receivable (less allowance for doubtful accounts of $49 and $54, respectively DTE Electric $28 and $29, respectively) | ||
Customer | 1,276 | 1,504 |
Other | 72 | 94 |
Inventories | ||
Fuel and gas | 480 | 512 |
Materials and supplies | 323 | 292 |
Derivative assets | 129 | 128 |
Notes receivable | ||
Regulatory assets | 32 | 76 |
Other | 203 | 238 |
Total Current Assets | 2,575 | 3,012 |
Investments | ||
Nuclear decommissioning trust funds | 1,236 | 1,241 |
Investments in equity method investees | 514 | 434 |
Other | 186 | 194 |
Total Investments | 1,936 | 1,869 |
Property | ||
Property, plant, and equipment | 28,121 | 26,538 |
Less accumulated depreciation and amortization | (10,087) | (9,718) |
Property, plant and equipment, net | 18,034 | 16,820 |
Other Assets | ||
Goodwill | 2,018 | 2,018 |
Regulatory assets | 3,692 | 3,651 |
Securitized regulatory assets | 0 | 34 |
Intangible assets | 89 | 102 |
Notes receivable | 85 | 90 |
Derivative assets | 54 | 44 |
Other | 254 | 259 |
Total Noncurrent Assets | 6,192 | 6,198 |
Total Assets | 28,737 | 27,899 |
Current Liabilities | ||
Accounts payable | 809 | 973 |
Accrued interest | 89 | 86 |
Dividends payable | 131 | 122 |
Short-term borrowings | 499 | 398 |
Current portion long-term debt, including capital leases | 473 | 274 |
Derivative liabilities | 57 | 77 |
Regulatory liabilities | 41 | 153 |
Other | 429 | 494 |
Total Current Liabilities | 2,528 | 2,577 |
Long-Term Debt (net of current portion) | ||
Mortgage bonds, notes, and other | 8,340 | 7,860 |
Junior subordinated debentures | 480 | 480 |
Capital lease obligations | 15 | 3 |
Total Long-Term Debt (net of current portion) | 8,835 | 8,343 |
Other Liabilities | ||
Deferred income taxes | 3,923 | 3,701 |
Regulatory liabilities | 569 | 667 |
Asset retirement obligations | 2,194 | 1,962 |
Unamortized investment tax credit | 62 | 41 |
Derivative liabilities | 86 | 8 |
Accrued pension liability | 1,133 | 1,280 |
Accrued postretirement liability | 228 | 515 |
Nuclear decommissioning | 177 | 182 |
Other | 207 | 281 |
Total Noncurrent Liabilities | $ 8,579 | $ 8,637 |
Commitments and Contingencies (Notes 8 and 17) | ||
Equity | ||
Common stock, without par value, 400,000,000 shares authorized, and 179,470,213 and 176,991,231 shares issued and outstanding, respectively | $ 4,123 | $ 3,904 |
Retained earnings | 4,794 | 4,578 |
Accumulated other comprehensive loss | (145) | (155) |
Total DTE Energy Company Equity | 8,772 | 8,327 |
Noncontrolling interests | 23 | 15 |
Total Equity | 8,795 | 8,342 |
Total Liabilities and Equity | 28,737 | 27,899 |
DTE Electric | ||
Current Assets | ||
Cash and cash equivalents | 15 | 14 |
Restricted cash | 0 | 96 |
Accounts receivable (less allowance for doubtful accounts of $49 and $54, respectively DTE Electric $28 and $29, respectively) | ||
Customer | 657 | 688 |
Affiliates | 14 | 31 |
Other | 40 | 15 |
Inventories | ||
Fuel and gas | 271 | 269 |
Materials and supplies | 251 | 231 |
Notes receivable | ||
Affiliates | 0 | 8 |
Other | 0 | 8 |
Regulatory assets | 17 | 46 |
Other | 66 | 73 |
Total Current Assets | 1,331 | 1,479 |
Investments | ||
Nuclear decommissioning trust funds | 1,236 | 1,241 |
Other | 35 | 172 |
Total Investments | 1,271 | 1,413 |
Property | ||
Property, plant, and equipment | 21,391 | 19,805 |
Less accumulated depreciation and amortization | (7,646) | (7,216) |
Property, plant and equipment, net | 13,745 | 12,589 |
Other Assets | ||
Regulatory assets | 2,969 | 2,913 |
Securitized regulatory assets | 0 | 34 |
Intangible assets | 34 | 37 |
Prepaid postretirement costs — affiliates | 24 | 0 |
Other | 180 | 182 |
Total Noncurrent Assets | 3,207 | 3,166 |
Total Assets | 19,554 | 18,647 |
Current Liabilities | ||
Affiliates | 40 | 60 |
Other | 329 | 366 |
Accrued interest | 62 | 58 |
Current portion long-term debt, including capital leases | 157 | 118 |
Regulatory liabilities | 19 | 150 |
Affiliates | 75 | 84 |
Other | 272 | 50 |
Other | 138 | 151 |
Total Current Liabilities | 1,092 | 1,037 |
Long-Term Debt (net of current portion) | ||
Mortgage bonds, notes, and other | 5,473 | 5,144 |
Capital lease obligations | 15 | 0 |
Total Long-Term Debt (net of current portion) | 5,488 | 5,144 |
Other Liabilities | ||
Deferred income taxes | 3,498 | 3,186 |
Regulatory liabilities | 199 | 245 |
Asset retirement obligations | 2,020 | 1,796 |
Unamortized investment tax credit | 58 | 36 |
Nuclear decommissioning | 177 | 182 |
Accrued pension liability — affiliates | 976 | 1,200 |
Accrued postretirement liability — affiliates | 307 | 520 |
Other | 66 | 105 |
Total Noncurrent Liabilities | 7,301 | 7,270 |
Commitments and Contingencies (Notes 8 and 17) | 0 | 0 |
Equity | ||
Common stock, without par value, 400,000,000 shares authorized, and 179,470,213 and 176,991,231 shares issued and outstanding, respectively | 4,086 | 3,786 |
Retained earnings | 1,585 | 1,436 |
Accumulated other comprehensive loss | 2 | (26) |
Total DTE Energy Company Equity | 5,673 | 5,196 |
Total Liabilities and Equity | $ 19,554 | $ 18,647 |
Consolidated Statements of Fin6
Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Current Assets: | ||
Allowance for doubtful accounts | $ 49 | $ 54 |
Stockholders' Equity: | ||
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in shares) | 179,470,213 | 176,991,231 |
Common stock, shares outstanding (in shares) | 179,470,213 | 176,991,231 |
DTE Electric | ||
Current Assets: | ||
Allowance for doubtful accounts | $ 28 | $ 29 |
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) | 138,632,324 | 138,632,324 |
Common stock, shares outstanding (in shares) | 138,632,324 | 138,632,324 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Activities | |||
Net Income | $ 727 | $ 905 | $ 661 |
Net Income | 720 | 911 | 668 |
Adjustments to reconcile Net Income to net cash from operating activities: | |||
Depreciation and amortization | 852 | 1,145 | 1,094 |
Nuclear fuel amortization | 46 | 48 | 38 |
Allowance for equity funds used during construction | (21) | (21) | (15) |
Deferred income taxes | 237 | 356 | 164 |
Equity earnings of equity method investees | (66) | (48) | (59) |
Dividends from equity method investees | 64 | 55 | 61 |
Asset (gains) losses and impairments, net | 107 | (4) | (8) |
Changes in assets and liabilities: | |||
Accounts receivable, net | 259 | 48 | (154) |
Inventories | 1 | (177) | 123 |
Accounts payable | (158) | 128 | 14 |
Accrued pension liability | (147) | 627 | (644) |
Accrued postretirement liability | (287) | 165 | (526) |
Derivative assets and liabilities | 47 | (199) | 107 |
Regulatory assets and liabilities | 85 | (1,177) | 1,269 |
Other current and noncurrent assets and liabilities | 172 | (18) | 22 |
Net cash from operating activities | 1,911 | 1,839 | 2,154 |
Investing Activities | |||
Plant and equipment expenditures — utility | (1,817) | (1,784) | (1,534) |
Plant and equipment expenditures — non-utility | (203) | (265) | (342) |
Acquisition | (241) | 0 | 0 |
Proceeds from sale of assets | 16 | 45 | 36 |
Restricted cash for debt redemption, principally Securitization, net | 97 | 3 | (1) |
Proceeds from sale of nuclear decommissioning trust fund assets | 885 | 1,146 | 1,118 |
Investment in nuclear decommissioning trust funds | (898) | (1,156) | (1,134) |
Distributions from equity method investees | 19 | 13 | 8 |
Contributions to equity method investees | (98) | (42) | (21) |
Other | 36 | (20) | (36) |
Net cash used for investing activities | (2,204) | (2,060) | (1,906) |
Financing Activities | |||
Issuance of long-term debt, net of issuance costs | 956 | 1,736 | 1,234 |
Redemption of long-term debt | (286) | (1,237) | (961) |
Short-term borrowings, net | 101 | 267 | (109) |
Issuance of common stock | 9 | 0 | 39 |
Repurchase of common stock | 0 | (52) | 0 |
Dividends on common stock | (501) | (470) | (445) |
Other | 3 | (27) | (19) |
Net cash from (used for) financing activities | 282 | 217 | (261) |
Net Decrease in Cash and Cash Equivalents | (11) | (4) | (13) |
Cash and Cash Equivalents at Beginning of Period | 48 | 52 | 65 |
Cash and Cash Equivalents at End of Period | 37 | 48 | 52 |
Supplemental disclosure of cash information | |||
Cash paid (received) for: Interest (net of interest capitalized) | 428 | 415 | 418 |
Cash paid (received) for: Income taxes | 14 | (35) | 121 |
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] | |||
Plant and equipment expenditures in accounts payable | 207 | 212 | 329 |
DTE Electric | |||
Operating Activities | |||
Net Income | 544 | 532 | 487 |
Adjustments to reconcile Net Income to net cash from operating activities: | |||
Depreciation and amortization | 633 | 927 | 896 |
Nuclear fuel amortization | 46 | 48 | 38 |
Allowance for equity funds used during construction | (20) | (21) | (14) |
Deferred income taxes | 320 | 297 | 108 |
Asset (gains) losses and impairments, net | 0 | (1) | (3) |
Changes in assets and liabilities: | |||
Accounts receivable, net | 33 | 33 | (30) |
Inventories | (22) | (97) | 36 |
Prepaid postretirement benefit costs — affiliates | (24) | 0 | 0 |
Accounts payable | (46) | 11 | (23) |
Regulatory assets and liabilities | 65 | (926) | 1,029 |
Accrued pension liability — affiliates | (224) | 495 | (663) |
Accrued postretirement liability — affiliates | (213) | 151 | (417) |
Other current and noncurrent assets and liabilities | 58 | (65) | 44 |
Net cash from operating activities | 1,150 | 1,384 | 1,488 |
Investing Activities | |||
Restricted cash for debt redemption, principally Securitization, net | 96 | 4 | 2 |
Proceeds from sale of nuclear decommissioning trust fund assets | 885 | 1,146 | 1,118 |
Investment in nuclear decommissioning trust funds | (898) | (1,156) | (1,134) |
Other | 6 | (14) | (33) |
Plant and equipment expenditures | (1,545) | (1,561) | (1,325) |
Acquisitions | (310) | 0 | 0 |
Notes receivable — affiliate | 8 | 192 | (200) |
Transfer of Rabbi Trust assets to affiliate | 137 | 0 | 0 |
Net cash used for investing activities | (1,621) | (1,389) | (1,572) |
Financing Activities | |||
Issuance of long-term debt, net of issuance costs | 495 | 942 | 768 |
Redemption of long-term debt | (135) | (837) | (590) |
Dividends on common stock | (395) | (370) | (342) |
Other | (7) | (9) | (3) |
Capital contribution by parent company | 300 | 190 | 400 |
Short-term borrowings, net — other | 222 | 50 | (130) |
Short-term borrowings, net — affiliate | (8) | 26 | (22) |
Net cash from (used for) financing activities | 472 | (8) | 81 |
Net Decrease in Cash and Cash Equivalents | 1 | (13) | (3) |
Cash and Cash Equivalents at Beginning of Period | 14 | 27 | 30 |
Cash and Cash Equivalents at End of Period | 15 | 14 | 27 |
Supplemental disclosure of cash information | |||
Cash paid (received) for: Interest (net of interest capitalized) | 244 | 240 | 256 |
Cash paid (received) for: Income taxes | (53) | 4 | 183 |
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] | |||
Plant and equipment expenditures in accounts payable | $ 150 | $ 162 | $ 231 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Millions | Total | Common Stock | Retained Earnings | Accumulated Other Comprehensive Loss | Non-Controlling Interest | DTE Electric | DTE ElectricCommon Stock | DTE ElectricRetained Earnings | DTE ElectricAccumulated Other Comprehensive Loss | DTE ElectricAdditional Paid-in Capital |
Beginning Balance (in shares) at Dec. 31, 2012 | 172,352,000 | 138,632,000 | ||||||||
Beginning Balance at Dec. 31, 2012 | $ 4,303 | $ 1,386 | $ 1,129 | $ (22) | $ 1,810 | |||||
Beginning Balance at Dec. 31, 2012 | $ 7,411 | $ 3,587 | $ 3,944 | $ (158) | $ 38 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net Income | 668 | 661 | 7 | |||||||
Net Income | 661 | 487 | 487 | |||||||
Dividends declared on common stock | (454) | (454) | (342) | (342) | ||||||
Transfer of benefit obligations, net of taxes of $18 in 2015 | 0 | |||||||||
Issuance of common stock (in shares) | 589,000 | |||||||||
Issuance of common stock | 39 | $ 39 | ||||||||
Contribution of common stock to pension plan (in shares) | 3,026,000 | |||||||||
Contribution of common stock to pension plan | 200 | $ 200 | ||||||||
Benefit obligations, net of tax | 22 | 22 | 5 | 5 | ||||||
Net change in unrealized gains on investments, net of tax | 2 | 2 | 1 | 1 | ||||||
Adjustments to Additional Paid in Capital, Contributions from Parent | 400 | 400 | ||||||||
Foreign currency translation | (2) | (2) | ||||||||
Stock-based compensation, distributions to noncontrolling interests and other (in shares) | 1,120,000 | |||||||||
Stock-based compensation, distributions to noncontrolling interests, and other | 68 | $ 81 | (1) | (12) | ||||||
Ending Balance (in shares) at Dec. 31, 2013 | 177,087,000 | 138,632,000 | ||||||||
Ending Balance at Dec. 31, 2013 | 4,854 | $ 1,386 | 1,274 | (16) | 2,210 | |||||
Ending Balance at Dec. 31, 2013 | 7,954 | $ 3,907 | 4,150 | (136) | 33 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net Income | 911 | 905 | 6 | |||||||
Net Income | 905 | 532 | 532 | |||||||
Dividends declared on common stock | (476) | (476) | (370) | (370) | ||||||
Transfer of benefit obligations, net of taxes of $18 in 2015 | 0 | |||||||||
Repurchase of common stock (in shares) | 713,000 | |||||||||
Repurchase of common stock | (52) | $ (52) | ||||||||
Benefit obligations, net of tax | (18) | (18) | (10) | (10) | ||||||
Net change in unrealized gains on investments, net of tax | 1 | 1 | 0 | |||||||
Adjustments to Additional Paid in Capital, Contributions from Parent | $ 190 | 190 | ||||||||
Foreign currency translation | (2) | (2) | ||||||||
Stock-based compensation, distributions to noncontrolling interests and other (in shares) | 617,000 | |||||||||
Stock-based compensation, distributions to noncontrolling interests, and other | $ 24 | $ 49 | (1) | (24) | ||||||
Ending Balance (in shares) at Dec. 31, 2014 | 176,991,231 | 176,991,000 | 138,632,324 | 138,632,000 | ||||||
Ending Balance at Dec. 31, 2014 | $ 8,327 | $ 5,196 | $ 1,386 | 1,436 | (26) | 2,400 | ||||
Ending Balance at Dec. 31, 2014 | 8,342 | $ 3,904 | 4,578 | (155) | 15 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Net Income | 720 | 727 | (7) | |||||||
Net Income | 727 | 544 | 544 | |||||||
Dividends declared on common stock | (510) | (510) | (395) | (395) | ||||||
Transfer of benefit obligations, net of taxes of $18 in 2015 | 27 | 27 | ||||||||
Issuance of common stock (in shares) | 105,000 | |||||||||
Issuance of common stock | 9 | $ 9 | ||||||||
Contribution of common stock to pension plan (in shares) | 1,428,000 | |||||||||
Contribution of common stock to VEBA Trust | 117 | $ 117 | ||||||||
Benefit obligations, net of tax | 13 | 13 | 0 | |||||||
Net change in unrealized gains on investments, net of tax | 1 | 1 | 1 | 1 | ||||||
Adjustments to Additional Paid in Capital, Contributions from Parent | $ 300 | 300 | ||||||||
Foreign currency translation | (4) | (4) | ||||||||
Stock-based compensation, distributions to noncontrolling interests and other (in shares) | 946,000 | |||||||||
Stock-based compensation, distributions to noncontrolling interests, and other | $ 107 | $ 93 | (1) | 15 | ||||||
Ending Balance (in shares) at Dec. 31, 2015 | 179,470,213 | 179,470,000 | 138,632,324 | 138,632,000 | ||||||
Ending Balance at Dec. 31, 2015 | $ 8,772 | $ 5,673 | $ 1,386 | $ 1,585 | $ 2 | $ 2,700 | ||||
Ending Balance at Dec. 31, 2015 | $ 8,795 | $ 4,123 | $ 4,794 | $ (145) | $ 23 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2015 | |
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 gas utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.2 million customers throughout Michigan and the sale of storage and transportation capacity; and • Other businesses involved in 1) natural gas pipelines, gathering, and storage; 2) power and industrial projects; and 3) energy marketing and trading operations. DTE Electric and DTE Gas are regulated by the MPSC. Certain activities of DTE Electric and DTE Gas, as well as various other aspects of businesses under DTE Energy are regulated by the FERC. In addition, the Registrants are regulated by other federal and state regulatory agencies including the NRC, the EPA, the MDEQ, and 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. Such revisions include amounts reclassified to separate Operating Revenues and Fuel, purchased power, and gas between Utility operations and Non-utility operations and from Operations and maintenance to Fuel, purchased power, and gas — non-utility related to the Power and Industrial Projects segment. The reclassifications did not affect DTE Energy's Net Income for the prior periods, as such, they are not deemed material to the previously issued Consolidated Financial Statements. For reclassifications of deferred tax assets and liabilities arising from ASU 2015-17 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 accounted for under the equity method. 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, 2015 , 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, 2015 , 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. In 2001, DTE Electric financed a regulatory asset related to Fermi 2 and certain other regulatory assets through the sale of rate reduction bonds by a wholly-owned special purpose entity, Securitization. DTE Electric performed servicing activities including billing and collecting surcharge revenue for Securitization. The remaining amounts due on the rate reduction bonds were paid in March 2015. The associated regulatory assets were fully amortized by March 31, 2015. Subsequent to the pay-down of the bonds, Securitization is no longer a VIE but continues to be consolidated by the Registrants as a voting interest entity. The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position. For non-consolidated VIEs, the maximum risk exposure is generally limited to its investment and amounts which it has guaranteed. The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of December 31, 2015 and 2014 . 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. Securitization, included in the DTE Energy table below for December 31, 2014, also relates to DTE Electric. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below. December 31, 2015 December 31, 2014 Total Securitization Other Total (In millions) ASSETS Cash and cash equivalents $ 14 $ — $ 7 $ 7 Restricted cash 8 96 8 104 Accounts receivable 18 26 15 41 Inventories 82 — 67 67 Property, plant, and equipment, net 66 — 81 81 Securitized regulatory assets — 34 — 34 Other current and long-term assets 4 1 6 7 $ 192 $ 157 $ 184 $ 341 LIABILITIES Accounts payable and accrued current liabilities $ 13 $ 3 $ 8 $ 11 Current portion long-term debt, including capital leases 8 105 10 115 Current regulatory liabilities — 32 — 32 Mortgage bonds, notes, and other 10 — 15 15 Capital lease obligations — — 3 3 Other current and long-term liabilities 6 9 6 15 $ 37 $ 149 $ 42 $ 191 Amounts for DTE Energy's non-consolidated VIEs as of December 31, 2015 and 2014 are as follows: December 31, 2015 December 31, 2014 (In millions) Investment in equity method investees $ 136 $ 134 Notes receivable $ 15 $ 15 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. At December 31, 2015 and 2014, 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 $81 million , respectively. The difference is being amortized over the life of the underlying assets. Equity method investees are described below: Investments % Owned Segment 2015 2014 2015 2014 Description (In millions) Significant Equity Method Investees Gas Storage and Pipelines NEXUS Pipeline $ 89 $ 16 50% 50% A proposed 255-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers Vector Pipeline 96 98 40% 40% 348-mile pipeline connecting Chicago, Michigan, and Ontario market centers Millennium Pipeline 111 110 26% 26% 182-mile pipeline serving markets in the Northeast $ 296 $ 224 Other Equity Method Investees Other Segments 218 210 $ 514 $ 434 The balance 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 20 to the Consolidated Financial Statements, " Segment and Related Information ". |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES Revenues The Registrants' revenues from the sale and delivery of electricity, and DTE Energy's revenues from the sale, delivery, and storage of natural gas are recognized as services are provided. DTE Electric and DTE Gas record revenues for electricity and gas provided but unbilled at the end of each month. Rates for DTE Electric and DTE Gas include provisions to adjust billings for fluctuations in fuel and purchased power costs, cost of natural gas, and certain other costs. Revenues are adjusted for differences between actual costs subject to reconciliation and the amounts billed in current rates. Under or over recovered revenues related to these cost recovery mechanisms are included in Regulatory assets or liabilities on the Registrants' Consolidated Statements of Financial Position and are recovered or returned to customers through adjustments to the billing factors. For further discussion of recovery mechanisms authorized by the MPSC, see Note 8 to the Consolidated Financial Statements, " Regulatory Matters ". DTE Energy's non-utility businesses recognize revenues as services are provided and products are delivered. For discussion of derivative contracts, see Note 12 to the Consolidated Financial Statements, " Financial and Other Derivative Instruments ". Other Income Other income for the Registrants is recognized for non-operating income such as equity earnings, allowance for equity funds used during construction, and contract services. DTE Energy's Power and Industrial Projects segment also recognizes Other income in connection with the sale of membership interests in reduced emissions fuel facilities to investors. In exchange for the cash received, the investors will receive a portion of the economic attributes of the facilities, including income tax attributes. The transactions are not treated as a sale of membership interests for financial reporting purposes. Other income is considered earned when refined coal is produced and tax credits are generated. Power and Industrial Projects recognized approximately $83 million , $78 million , and $81 million of Other income for the years ended December 31, 2015 , 2014 , and 2013 , respectively. For information on equity earnings by segment, see Note 20 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 independent system operators and regional transmission organizations (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 regional transmission organizations. Energy Trading accounts for these transactions on a net hourly basis for the day-ahead, real-time, and FTR markets. These transactions are related to trading contracts which, if derivatives, are presented on a net basis in Operating Revenues — Non-utility operations, and if non-derivatives, the realized gains and losses for sales are recorded in Operating Revenues — Non-utility operations and purchases are recorded in Fuel, purchased power, and gas — non-utility in the DTE Energy Consolidated Statements of Operations. DTE Electric and Energy Trading record accruals for future net purchases adjustments based on historical experience, and reconcile accruals to actual costs when invoices are received from MISO and other ISOs and RTOs. Changes in Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) is the change in common shareholders’ equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for the Registrants include unrealized gains and losses on available-for-sale securities and changes in benefit obligations, consisting of deferred actuarial losses and prior service costs. The amounts recorded to Accumulated other comprehensive income (loss) relating solely to DTE Energy also include unrealized gains and losses from derivatives accounted for as cash flow hedges, DTE Energy's interest in other comprehensive income of equity investees which comprise the net unrealized gains and losses on investments, and foreign currency translation adjustments. Refer to Note 18 to the Consolidated Financial Statements, " Retirement Benefits and Trusteed Assets ", regarding the transfer of a portion of DTE Electric benefit obligations during the year. The following table summarizes the changes in DTE Energy's Accumulated other comprehensive income (loss) by component for the years ended December 31, 2015 and 2014 : Changes in Accumulated Other Comprehensive Income (Loss) by Component (a) Net Net Benefit Foreign Total (In millions) Balance, December 31, 2013 $ (4 ) $ (6 ) $ (126 ) $ — $ (136 ) Other comprehensive income (loss) before reclassifications — 1 (25 ) (2 ) (26 ) Amounts reclassified from Accumulated other comprehensive income — — 7 — 7 Net current-period Other comprehensive income (loss) — 1 (18 ) (2 ) (19 ) Balance, December 31, 2014 $ (4 ) $ (5 ) $ (144 ) $ (2 ) $ (155 ) Other comprehensive income (loss) before reclassifications — 1 2 (4 ) (1 ) Amounts reclassified from Accumulated other comprehensive income — — 11 — 11 Net current-period Other comprehensive income (loss) — 1 13 (4 ) 10 Balance, December 31, 2015 $ (4 ) $ (4 ) $ (131 ) $ (6 ) $ (145 ) ______________________________________ (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 18 to the Consolidated Financial Statements " Retirement Benefits and Trusteed Assets "). The following table summarizes the changes in DTE Electric's Accumulated other comprehensive income (loss) by component for the years ended December 31, 2015 and 2014 : Changes in Accumulated Other Comprehensive Income (Loss) by Component (a) Net Unrealized Gain on Investments Benefit Obligations (b) Total (In millions) Balance, December 31, 2013 $ 1 $ (17 ) $ (16 ) Other comprehensive loss before reclassifications — (12 ) (12 ) Amounts reclassified from Accumulated other comprehensive income — 2 2 Net current-period Other comprehensive loss — (10 ) (10 ) Balance, December 31, 2014 $ 1 $ (27 ) $ (26 ) Other comprehensive income before reclassifications 1 — 1 Transfer of amounts from Accumulated other comprehensive income to affiliate — 27 27 Amounts reclassified from Accumulated other comprehensive income — — — Net current-period Other comprehensive income 1 27 28 Balance, December 31, 2015 $ 2 $ — $ 2 ______________________________________ (a) All amounts are net of tax. (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 18 to the Consolidated Financial Statements " Retirement Benefits and Trusteed Assets "). Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash consists of funds held to satisfy requirements of certain debt and DTE Energy partnership operating agreements. Restricted cash designated for interest and principal payments within one year is classified as a Current Asset. Receivables Accounts receivable are primarily composed of trade receivables and unbilled revenue. The Registrants' Accounts receivable are stated at net realizable value. The allowance for doubtful accounts for DTE Electric and DTE Gas is generally calculated using the aging approach that utilizes rates developed in reserve studies. DTE Electric and DTE Gas establish an allowance for uncollectible accounts based on historical losses and management’s assessment of existing economic conditions, customer trends, and other factors. Customer accounts are generally considered delinquent if the amount billed is not received by the due date, which is typically in 21 days, however, factors such as assistance programs may delay aggressive action. DTE Electric and DTE Gas assess late payment fees on trade receivables based on past-due terms with customers. Customer accounts are written off when collection efforts have been exhausted. The time period for write-off is 150 days after service has been terminated. The customer allowance for doubtful accounts for DTE Energy's other businesses is calculated based on specific review of probable future collections based on receivable balances in excess of 30 days. DTE Energy unbilled revenues of $620 million and $773 million , including $237 million and $250 million of DTE Electric unbilled revenues, are included in Customer Accounts receivable at December 31, 2015 and 2014 , respectively. Notes Receivable Notes receivable, or financing receivables, for DTE Energy are primarily comprised of capital lease receivables and loans and are included in Notes receivable and Other current assets on DTE Energy’s Consolidated Statements of Financial Position. Notes receivable, or financing receivables, for DTE Electric are primarily comprised of loans. Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. The Registrants cease accruing interest (nonaccrual status), consider a note receivable impaired, and establish an allowance for credit loss when it is probable that all principal and interest amounts due will not be collected in accordance with the contractual terms of the note receivable. Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty’s ability to pay. In addition, the Registrants monitor the credit ratings of the counterparties from which they have Notes receivable. Inventories Inventory related to utility operations is generally valued at average cost. Inventory related to non-utility operations is valued at the lower of cost or market. DTE Gas' natural gas inventory of $65 million and $43 million as of December 31, 2015 and 2014 , respectively, is determined using the last-in, first-out (LIFO) method. The replacement cost of gas remaining in storage exceeded the LIFO cost by $60 million and $110 million at December 31, 2015 and 2014 , 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 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 $16 million of expenses related to Fermi 2 refueling outages were accrued at December 31, 2015 and 2014 , 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 8 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. 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 discounted 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 has certain Intangible assets as shown below: December 31, 2015 2014 (In millions) Emission allowances $ 1 $ 1 Renewable energy credits 38 45 Contract intangible assets 117 122 156 168 Less accumulated amortization 62 57 Intangible assets, net 94 111 Less current intangible assets 5 9 $ 89 $ 102 DTE Electric has certain Intangible assets as shown below: December 31, 2015 2014 (In millions) Emission allowances $ 1 $ 1 Renewable energy credits 38 45 39 46 Less current intangible assets 5 9 $ 34 $ 37 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 businesses by the Registrants. DTE Energy amortizes contract Intangible assets on a straight-line basis over the expected period of benefit, ranging from 1 to 26 years. DTE Energy's Intangible assets amortization expense was $11 million in 2015 , $12 million in 2014 , and $14 million in 2013 . The following table summarizes DTE Energy's estimated contract intangible amortization expense expected to be recognized during each year through 2020 : Estimated amortization expense (In millions) 2016 $ 10 2017 $ 7 2018 $ 7 2019 $ 7 2020 $ 5 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 in Other long-term assets on the Registrant's Consolidated Statements of Financial Position. In accordance with MPSC regulations applicable to DTE Energy’s electric and gas utilities the unamortized discount, premium, and expense related to utility debt redeemed with a refinancing are amortized over the life of the replacement issue. Discount, premium, and expense on early redemptions of debt associated with DTE Energy's non-utility operations are charged to earnings. Investments in Debt and Equity Securities The Registrants generally classify investments in debt and equity securities as either trading or available-for-sale and have recorded such investments at market value with unrealized gains or losses included in earnings or in Other comprehensive income or loss, respectively. Changes in the fair value of Fermi 2 nuclear decommissioning investments are recorded as adjustments to Regulatory assets or liabilities, due to a recovery mechanism from customers. The Registrants' equity investments are reviewed for impairment each reporting period. If the assessment indicates that the impairment is other than temporary, a loss is recognized resulting in the equity investment being written down to its estimated fair value. See Note 11 of the Consolidated Financial Statements, " Fair Value ". Government Grants Grants are recognized when there is reasonable assurance that the grant will be received and that any conditions associated with the grant will be met. When grants are received related to Property, plant, and equipment, the Registrants reduce the cost of the assets on their Consolidated Statements of Financial Position, resulting in lower depreciation expense over the life of the associated asset. Grants received related to expenses are reflected as a reduction of the associated expense in the period in which the expense is incurred. DTE Energy Foundation DTE Energy's charitable contributions to the DTE Energy Foundation were $12 million , $25 million , and $18 million for the years ended December 31, 2015 , 2014 , and 2013 , 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 7 Asset Retirement Obligations 8 Regulatory Matters 9 Income Taxes 11 Fair Value 12 Financial and Other Derivative Instruments 19 Stock-Based Compensation |
New Accounting Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements | NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The objectives of this ASU are to improve upon revenue recognition requirements by providing a single comprehensive model to determine the measurement of revenue and timing of recognition. The core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. This ASU also requires expanded qualitative and quantitative disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. In July 2015, the FASB deferred implementation of the revenue standard to be effective for the first interim period within annual reporting periods beginning after December 15, 2017. The standard is to be applied retrospectively and early adoption is permitted in the preceding year. The Registrants are currently assessing the impact of this ASU on their Consolidated Financial Statements. In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis , which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The ASU affects (1) limited partnerships and similar legal entities, (2) evaluating fees paid to a decision maker or a service provider as a variable interest, (3) the effect of fee arrangements on the primary beneficiary determination, (4) the effect of related parties on the primary beneficiary determination, and (5) certain investment funds. It is effective for the Registrants for the first interim period within annual reporting periods beginning after December 15, 2015 and early adoption is permitted. The Registrants are currently assessing the impact of this ASU on their Consolidated Financial Statements. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs . This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This ASU is effective for reporting periods beginning after December 15, 2015 and interim periods therein. It is to be applied retrospectively and early adoption is permitted. Had the Registrants early adopted this ASU it would have decreased assets and liabilities on DTE Energy’s and DTE Electric’s Consolidated Statements of Financial Position by $74 million and $36 million , respectively, at December 31, 2015, and $73 million and $35 million , respectively, at December 31, 2014. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330), Simplifying the Measurement of Inventory . The ASU replaces the current lower of cost or market test with a lower of cost or net realizable value test when cost is determined on a first-in, first-out or average cost basis. The standard is effective for public entities for annual reporting periods beginning after December 15, 2016, and interim periods therein. It is to be applied prospectively and early adoption is permitted. The ASU will not have a significant impact on the Registrants' Consolidated Financial Statements. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes . This ASU requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. This ASU is effective for reporting periods beginning after December 15, 2016, including interim periods therein. It may be applied either prospectively or retrospectively, and early adoption is permitted. The Registrants adopted this ASU at December 31, 2015. The adoption of this ASU impacted DTE Energy’s and DTE Electric’s Consolidated Statements of Financial Position by decreasing assets and liabilities for 2014 by $75 million and $2 million , respectively. |
Acquisitions and Exit Activitie
Acquisitions and Exit Activities | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition, Integration, Restructuring and Other Related Costs [Abstract] | |
Acquisitions and Exit Activities | ACQUISITIONS AND EXIT ACTIVITIES Acquisitions On January 21, 2015, DTE Electric closed on an acquisition of a 732 MW simple-cycle natural gas facility in Carson City, Michigan from The LS Power Group. The facility will serve to meet customer needs during periods of peak demand. DTE Electric has completed its valuation analysis to arrive at the fair value of the assets acquired. The cash consideration and total purchase price of approximately $241 million was allocated based on the underlying fair value of the assets acquired, which was primarily Property, plant, and equipment. The pro forma results of operations have not been presented for DTE Electric as the effects of the acquisition were not material to either Registrant's Consolidated Statements of Operations. On October 1, 2015, DTE Electric closed on an acquisition of a 350 MW simple-cycle natural gas facility in East China Township, Michigan from a non-utility affiliate of DTE Energy. The facility will serve to meet customer needs during periods of peak demand. DTE Electric has completed its purchase accounting. The cash consideration and total purchase price of approximately $69 million was based on the net book value of the assets acquired, which was primarily Property, plant, and equipment. The pro forma results of operations have not been presented for DTE Electric as the effects of the acquisition were not material to its Consolidated Statements of Operations. Exit Activities On December 17, 2015, DTE Energy announced the closure of the Shenango coke battery plant in response to a sharp downturn in the North American steel industry. The plant, which is included in the Power and Industrial Projects segment, is located in Pittsburgh, PA. As a result of the closure, DTE Energy recorded a one-time pre-tax non-cash impairment charge of $111 million . The charge included $96 million to fully impair the long-lived assets, employee severance expenses related to the workforce reduction of approximately 170 employees for $3 million , and other expenses, including write downs of inventory, of $12 million . DTE Energy's coke production has been shifted to a larger, more efficient coke battery plant in the Power and Industrial Projects segment. Production of coke from the Shenango coke battery plant ceased in January 2016. A summary of the charges in the Consolidated Statements of Operations resulting from DTE Energy's exit activities is shown below: 2015 (In millions) Fuel, purchased power, and gas — non-utility $ 5 Operation and maintenance 10 Asset (gains) losses and impairments, net 96 Total Exit Activity Charges $ 111 For amounts accrued at December 31, 2015 related to these exit activities, DTE Energy expects future cash payments of approximately $7 million to be made in 2016. DTE Energy anticipates incurring additional costs, including environmental remediation costs, in connection with the closure. An estimate of the amount of additional costs and timing of the activities cannot be determined at December 31, 2015 as alternatives are currently being evaluated, however, the likelihood of these costs being material to DTE Energy's Consolidated Financial Statements is remote. |
Property, Plant, and Equipment
Property, Plant, and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
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: 2015 2014 Property, plant, and equipment (In millions) DTE Electric Generation $ 11,767 $ 10,712 Distribution 7,816 7,414 Other 1,808 1,679 Total DTE Electric 21,391 19,805 DTE Gas Distribution 3,124 2,946 Storage 453 448 Transmission and other 890 863 Total DTE Gas 4,467 4,257 Non-utility and other 2,263 2,476 Total DTE Energy 28,121 26,538 Less accumulated depreciation and amortization DTE Electric Generation (4,346 ) (3,863 ) Distribution (2,707 ) (2,822 ) Other (593 ) (531 ) Total DTE Electric (7,646 ) (7,216 ) DTE Gas Distribution (1,163 ) (1,130 ) Storage (147 ) (142 ) Transmission and other (370 ) (363 ) Total DTE Gas (1,680 ) (1,635 ) Non-utility and other (761 ) (867 ) Total DTE Energy (10,087 ) (9,718 ) Net DTE Energy Property, plant, and equipment $ 18,034 $ 16,820 Net DTE Electric Property, plant, and equipment $ 13,745 $ 12,589 AFUDC and interest capitalized was approximately $34 million and $37 million for DTE Energy for the years ended December 31, 2015 and 2014 , respectively, including AFUDC capitalized of approximately $31 million and $32 million for DTE Electric for the years ended December 31, 2015 and 2014 , respectively. The composite depreciation rate for DTE Electric was approximately 3.5% in 2015 and 3.4% in 2014 and 2013 . The composite depreciation rate for DTE Gas was 2.6% in 2015 and 2.4% in 2014 and 2013 . The average estimated useful life for each major class of utility Property, plant, and equipment as of December 31, 2015 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 5 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 55 years. The following is a summary of Depreciation and amortization expense for DTE Energy, including DTE Electric: 2015 2014 2013 (In millions) Property, plant, and equipment $ 740 $ 683 $ 630 Regulatory assets and liabilities 150 159 163 Securitized regulatory assets (a) (38 ) 303 301 $ 852 $ 1,145 $ 1,094 The following is a summary of Depreciation and amortization expense for DTE Electric: 2015 2014 2013 (In millions) Property, plant, and equipment $ 545 $ 489 $ 457 Regulatory assets and liabilities 126 135 138 Securitized regulatory assets (a) (38 ) 303 301 $ 633 $ 927 $ 896 _______________________________________ (a) Securitization surcharges ended in December 2014 with remaining over recovery refunded to customers in 2015. Securitization bonds were paid and Securitization regulatory assets amortization was completed in 2015. The $38 million credit represents the final adjustments to close out the Securitization program. Capitalized software costs are classified as Property, plant, and equipment and the related amortization is included in accumulated depreciation and amortization on the Registrants' Consolidated Financial Statements. The Registrants capitalize the costs associated with computer software developed or obtained for use in their businesses. The Registrants amortize capitalized software costs on a straight-line basis over the expected period of benefit, ranging from 3 to 15 years for DTE Energy and 5 to 15 years for DTE Electric. The following balances for capitalized software relate to DTE Energy, including DTE Electric: Year Ended December 31, 2015 2014 2013 (In millions) Amortization expense of capitalized software $ 98 $ 77 $ 71 Gross carrying value of capitalized software $ 770 $ 668 Accumulated amortization of capitalized software $ 439 $ 335 The following balances for capitalized software relate to DTE Electric: Year Ended December 31, 2015 2014 2013 (In millions) Amortization expense of capitalized software $ 80 $ 71 $ 64 Gross carrying value of capitalized software $ 664 $ 590 Accumulated amortization of capitalized software $ 369 $ 293 Property under capital leases for the Registrants is as follows: DTE Energy DTE Electric 2015 2014 2015 2014 (In millions) Gross property under capital leases $ 48 $ 35 $ 22 $ 9 Accumulated amortization of property under capital leases $ 26 $ 27 $ 1 $ 5 |
Jointly-Owned Utility Plant
Jointly-Owned Utility Plant | 12 Months Ended |
Dec. 31, 2015 | |
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 and Operation and maintenance expenses in the DTE Electric Consolidated Statements of Operations. Ownership information of the two utility plants as of December 31, 2015 was as follows: Belle River Ludington Hydroelectric Pumped Storage In service date 1984-1985 1973 Total plant capacity 1,270 MW 1,955 MW Ownership interest (a) 49% Investment in Property, plant, and equipment (in millions) $ 1,779 $ 443 Accumulated depreciation (in millions) $ 1,053 $ 154 _______________________________________ (a) DTE Electric's ownership interest is 63% in Unit No. 1, 81% of the facilities applicable to Belle River used jointly by the Belle River and St. Clair Power Plants and 75% in common facilities used at Unit No. 2. Belle River The Michigan Public Power Agency (MPPA) has an ownership interest in Belle River Unit No. 1 and other related facilities. The MPPA is entitled to 19% of the total capacity and energy of the plant and is responsible for the same percentage of the plant’s operation, maintenance, and capital improvement costs. Ludington Hydroelectric Pumped Storage Consumers Energy Company has an ownership interest in the Ludington Hydroelectric Pumped Storage Plant. Consumers Energy is entitled to 51% of the total capacity and energy of the plant and is responsible for the same percentage of the plant’s operation, maintenance, and capital improvement costs. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2015 | |
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 2015 follows: DTE Energy DTE Electric (In millions) Asset retirement obligations at December 31, 2014 $ 1,962 $ 1,796 Accretion 119 111 Liabilities incurred 33 33 Revision in estimated cash flows 80 80 Asset retirement obligations at December 31, 2015 $ 2,194 $ 2,020 The Revision in estimated cash flows was principally attributed to the impact of the Coal Combustion Residuals on DTE Electric's coal ash storage facility AROs. Refer to Note 17 to the Consolidated Financial Statements, " Commitments and Contingencies ", for discussion of the implications of the Coal Combustion Residuals. Approximately $1.8 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 is continuing to fund FERC jurisdictional amounts for decommissioning even though explicit provisions are not included in FERC rates. DTE Electric believes the MPSC and FERC 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 11 to the Consolidated Financial Statements, " Fair Value ". |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
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 2015 2014 2015 2014 Assets (In millions) Recoverable pension and other postretirement costs: Pension $ 2,112 $ 2,284 $ 1,592 $ 1,743 Other postretirement costs 256 234 198 191 Asset retirement obligation 565 448 565 448 Recoverable Michigan income taxes 248 267 203 220 Removal costs asset 118 15 118 15 Unamortized loss on reacquired debt 63 67 41 44 Other recoverable income taxes 61 66 61 66 Deferred environmental costs 54 59 — — Transitional Reconciliation Mechanism 43 14 43 14 Cost to achieve Performance Excellence Process 33 54 28 46 Accrued PSCR/GCR revenue 12 61 — 34 Recoverable income taxes related to Securitized regulatory assets — 19 — 19 Other 159 139 137 119 3,724 3,727 2,986 2,959 Less amount included in Current Assets (32 ) (76 ) (17 ) (46 ) $ 3,692 $ 3,651 $ 2,969 $ 2,913 Securitized regulatory assets $ — $ 34 $ — $ 34 DTE Energy DTE Electric 2015 2014 2015 2014 Liabilities (In millions) Removal costs liability $ 291 $ 308 $ — $ — Renewable energy 197 227 197 227 Negative pension offset 46 67 — — Accrued PSCR/GCR refund 37 — 15 — Refundable income taxes 23 33 — — Energy optimization 10 24 — 14 Fermi 2 refueling outage 4 16 4 16 Securitization over recovery — 71 — 71 Refundable revenue decoupling/deferred gain — 63 — 63 Other 2 11 2 4 $ 610 $ 820 $ 218 $ 395 Less amount included in Current Liabilities (41 ) (153 ) (19 ) (150 ) $ 569 $ 667 $ 199 $ 245 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 rules 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 Michigan income taxes — In July 2007, the MBT was enacted by the State of Michigan. State deferred tax liabilities were established for DTE Energy’s utilities and offsetting Regulatory assets were 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. In May 2011, the MBT was repealed and the MCIT was enacted. The Regulatory asset was remeasured to reflect the impact of the MCIT tax rate. (a) • Removal costs asset — Receivable for the recovery of asset removal expenditures in excess of amounts collected from customers. • 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. • 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. (a) • 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) • Transitional Reconciliation Mechanism ( TRM) — 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. • Cost to achieve Performance Excellence Process (PEP) — The MPSC authorized the deferral of costs to implement the PEP. These costs consist of employee severance, project management, and consultant support. These costs are amortized over a ten -year period beginning with the year subsequent to the year the costs were deferred. • 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. • Recoverable income taxes related to Securitized regulatory assets — Receivable for the recovery of income taxes to be paid on the non-bypassable securitization bond surcharge. A non-bypassable securitization tax surcharge, which ended in December 2014, was in place to recover the income tax over a 14 -year period. (a) • Securitized regulatory assets — The net book balance of the Fermi 2 nuclear plant was written off in 1998 and an equivalent regulatory asset was established. In 2001, the Fermi 2 regulatory asset and certain other regulatory assets were securitized pursuant to PA 142 and an MPSC order. A non-bypassable securitization bond surcharge, which ended in December 2014, was in place to recover the Securitized regulatory asset over a 14 -year period. ________________________________________________ (a) Regulatory assets not earning a return or accruing carrying charges. LIABILITIES • Removal costs liability — The amount collected from customers for the funding of future asset removal activities. • Renewable energy — Amounts collected in rates in excess of renewable energy expenditures. • Negative 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. • Accrued PSCR/GCR refund — Liability for the temporary over-recovery of and a return on power supply costs and transmission costs incurred by DTE Electric which are recoverable through the PSCR mechanism and temporary over-recovery of and a return on gas costs incurred by DTE Gas which are recoverable through the GCR mechanism. • Refundable income taxes — Income taxes refundable to DTE Gas' customers representing the difference in property-related deferred income taxes payable and amounts recognized pursuant to MPSC authorization. • Energy optimization (EO) — Amounts collected in rates in excess of energy optimization expenditures. • Fermi 2 refueling outage — Accrued liability for refueling outage at Fermi 2 pursuant to MPSC authorization. • Securitization over recovery — Over recovery of securitization bond expenses. • Refundable revenue decoupling/deferred gain — Amounts were originally accrued as refundable to DTE Electric customers for the change in revenue resulting from the difference between actual average sales per customer compared to the base level of average sales per customer established by the MPSC. In 2012, the MCOA issued a decision reversing the MPSC's decision to authorize a RDM for DTE Electric. The revenue decoupling liability was reversed and, after receiving an order from the MPSC to defer the resulting gain for future amortization, DTE Electric created a regulatory liability representing its obligation to refund the gain. The deferred gain was amortized into earnings in 2014 and 2015. 2014 Electric Rate Case Filing DTE Electric filed a rate case with the MPSC on December 19, 2014 requesting an increase in base rates of $370 million based on a projected twelve-month period ending June 30, 2016. The requested increase in base rates was due primarily to an increase in net plant resulting from infrastructure investments, plant acquisitions, environmental compliance, and reliability improvement projects. The rate filing also included projected changes in sales, working capital, operation and maintenance expenses, return on equity, and capital structure. On July 1, 2015, DTE Electric realized an annual revenue increase of $230 million consisting of $190 million of self-implemented base rate increase related to the December 19, 2014 rate request and $40 million associated with the required elimination of a credit surcharge. On December 11, 2015, the MPSC issued an order approving an annual revenue increase of $238 million for service rendered on or after December 17, 2015. The rate order also provided for a reduction of the return on equity from 10.5% to 10.3% on a capital structure of 50% debt and 50% equity. On December 22, 2015, DTE Electric petitioned the MPSC for a rehearing and clarification of several issues related to the December 11, 2015 MPSC rate order. The three main issues addressed in the rehearing request were related to the recovery of the cost of the operating license for Fermi 3, the capitalization of the cost of tree trimming, and costs related to certain land and a building located near DTE Electric's Detroit headquarters. On January 19, 2016, the MPSC issued an order authorizing DTE Electric to begin amortization of the cost of the Fermi 3 operating license over a 20 -year period without a return on the unamortized balance. The MPSC denied the capitalization of the tree trimming costs and the cost related to the land and building. DTE Electric recorded a disallowance of $10 million related to tree trim costs in the fourth quarter of 2015 which was previously capitalized as of September 30, 2015. The land and building have economic value independent of recovery through rates and therefore no impairment charge was recorded for these assets. The MPSC order also stated that any changes to the revenue deficiency will be addressed in a final rehearing order in this case. 2016 Electric Rate Case Filing DTE Electric filed a rate case with the MPSC on February 1, 2016 requesting an increase in base rates of $344 million based on a projected twelve-month period ending July 31, 2017. The requested increase in base rates is due primarily to an increase in net plant resulting from infrastructure investments, environmental compliance, and reliability improvement projects. The rate filing also includes projected changes in sales, operation and maintenance expenses, and working capital. The rate filing also requests an increase in return on equity from 10.3% to 10.5% on a capital structure of 50% equity and 50% debt. DTE Electric anticipates self-implementing a rate increase in August 2016 with an MPSC order expected by February 2017. PSCR Proceedings The PSCR process is designed to allow DTE Electric to recover all of its power supply costs if incurred under reasonable and prudent policies and practices. DTE Electric's power supply costs include fuel and related transportation costs, purchased and net interchange power costs, nitrogen oxide and sulfur dioxide emission allowances costs, urea costs, transmission costs, and MISO costs. The MPSC reviews these costs, policies, and practices for prudence in annual plan and reconciliation filings. 2012 PSCR Year — In March 2013, DTE Electric filed its 2012 PSCR reconciliation that included purchased power costs related to the manual shutdown of the Fermi 2 nuclear power plant in June 2012 caused by the failure of one of the plant's two non-safety related feed-water pumps. The plant was restarted on July 30, 2012, which restored production to approximately 68% of full capacity. In September 2013, the repair to the plant was completed and production was returned to full capacity. DTE Electric was able to purchase sufficient power from MISO to continue to provide uninterrupted service to customers. On June 30, 2015, the MPSC issued an order that disallowed approximately $19 million of Fermi 2 related purchased power costs. DTE Electric recorded the impact of this disallowance in the second quarter of 2015. Customer Settlement In July 2014, an industrial customer of DTE Electric filed a complaint with the MPSC alleging they had been overcharged for the period of February 2008 through March 2014, and sought payment from DTE Electric of $22 million , plus interest. In July 2015, the MPSC issued an order that found the customer is entitled to a refund in the amount of $20 million , plus interest calculated at 7% per annum. In July 2015, DTE Electric issued a customer refund of $25 million , inclusive of interest. Approximately $16 million of the refund obligation is expected to be recovered through the PSCR and other regulatory mechanisms. DTE Electric does not expect this order to have a material impact to its Consolidated Statements of Operations. 2015 DTE Gas Rate Case Filing DTE Gas filed a rate case with the MPSC on December 18, 2015 requesting an increase in base rates of $183 million based on a projected twelve-month period ending October 31, 2017. The requested increase in base rates is due primarily to an increase in net plant of $800 million , inclusive of IRM capital investments being recovered through approved IRM surcharge filings. The rate filing also includes projected changes in sales, operation and maintenance expenses, and working capital. The rate filing also requests an increase in return on equity from 10.5% to 10.75% on a capital structure of 52% equity and 48% debt. DTE Gas anticipates self-implementing a rate increase in November 2016 with an MPSC order expected by December 2016. Concurrent with the MPSC order in this rate case, the existing IRM surcharge will be terminated. However, in this rate case filing, DTE Gas requested to implement a new IRM surcharge to become effective in January 2017. DTE Gas IRM In November 2014, DTE Gas filed an application with the MPSC for approval of an increased IRM surcharge to recover an additional $47 million of annual capital expenditures in 2016 and 2017 for its gas main renewal program. In November 2015, the MPSC issued an order authorizing an expansion of its gas main renewal program and an increase in the IRM surcharge of $16 million for 2016 and $31 million for 2017. The 2017 increase is subject to a reduction to the 2016 level if the 2016 target is not met. The IRM surcharge authorized by the order in this filing will become effective in July 2016 and will be terminated upon the implementation of base rates requested in the December 18, 2015 rate case filing. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
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 an income tax receivable from DTE Energy of $6 million and $29 million at December 31, 2015 and 2014 , respectively. The Registrants' total Income Tax Expense varied from the statutory federal income tax rate for the following reasons: 2015 2014 2013 DTE Energy (In millions) Income Before Income Taxes $ 950 $ 1,275 $ 922 Income tax expense at 35% statutory rate $ 333 $ 446 $ 323 Production tax credits (122 ) (119 ) (68 ) Investment tax credits (7 ) (6 ) (6 ) Depreciation (4 ) (4 ) (4 ) AFUDC - Equity (8 ) (7 ) (5 ) Employee Stock Ownership Plan dividends (5 ) (4 ) (4 ) Domestic production activities deduction — — (14 ) State and local income taxes, net of federal benefit 35 51 37 Enactment of New York Corporate Income Tax Legislation, net of federal benefit — 8 — Other, net 8 (1 ) (5 ) Income Tax Expense $ 230 $ 364 $ 254 Effective income tax rate 24.2 % 28.5 % 27.5 % 2015 2014 2013 DTE Electric (In millions) Income Before Income Taxes $ 836 $ 830 $ 741 Income tax expense at 35% statutory rate $ 293 $ 291 $ 260 Production tax credits (31 ) (22 ) (15 ) Investment tax credits (5 ) (5 ) (5 ) Depreciation 3 3 3 AFUDC - Equity (7 ) (7 ) (5 ) Employee Stock Ownership Plan dividends (3 ) (3 ) (2 ) Domestic production activities deduction — (2 ) (18 ) State and local income taxes, net of federal benefit 43 43 41 Other, net (1 ) — (5 ) Income Tax Expense $ 292 $ 298 $ 254 Effective income tax rate 34.9 % 35.9 % 34.3 % Components of the Registrants' Income Tax Expense were as follows: 2015 2014 2013 DTE Energy (In millions) Current income tax expense (benefit) Federal $ (3 ) $ (16 ) $ 74 State and other income tax (4 ) 24 16 Total current income taxes (7 ) 8 90 Deferred income tax expense Federal 178 289 122 State and other income tax 59 67 42 Total deferred income taxes 237 356 164 Total $ 230 $ 364 $ 254 2015 2014 2013 DTE Electric (In millions) Current income tax expense (benefit) Federal $ (26 ) $ (19 ) $ 123 State and other income tax (2 ) 20 23 Total current income taxes (28 ) 1 146 Deferred income tax expense Federal 252 251 68 State and other income tax 68 46 40 Total deferred income taxes 320 297 108 Total $ 292 $ 298 $ 254 Deferred tax assets and liabilities are recognized for the estimated future tax effect of temporary differences between the tax basis of assets or liabilities and the reported amounts in the Consolidated Financial Statements. Consistent with rate making treatment, deferred taxes are offset in the tables below for temporary differences which have related Regulatory assets and liabilities. The Registrants' deferred tax assets (liabilities) were comprised of the following at December 31: DTE Energy DTE Electric 2015 2014 2015 2014 (In millions) Property, plant, and equipment $ (4,211 ) $ (3,832 ) $ (3,468 ) $ (3,152 ) Securitized regulatory assets 5 (2 ) 5 (3 ) Tax credit carry-forwards 465 296 53 — Pension and benefits (301 ) (152 ) (193 ) (43 ) Federal net operating loss carry-forward 177 — 142 — State and local net operating loss carry-forwards 63 39 16 — Investments in equity method investees (82 ) (84 ) — — Other (4 ) 65 (53 ) 12 (3,888 ) (3,670 ) (3,498 ) (3,186 ) Less valuation allowance (35 ) (31 ) — — Long-term deferred income tax liabilities $ (3,923 ) $ (3,701 ) $ (3,498 ) $ (3,186 ) Deferred income tax assets $ 1,088 $ 861 $ 453 $ 357 Deferred income tax liabilities (5,011 ) (4,562 ) (3,951 ) (3,543 ) $ (3,923 ) $ (3,701 ) $ (3,498 ) $ (3,186 ) Tax credit carry forwards for DTE Energy include $181 million of general business credits that expire from 2034 through 2035 and $284 million of alternative minimum tax credits that may be carried forward indefinitely. 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. DTE Energy has a federal net operating loss carry-forward available for use on the tax return of $517 million as of December 31, 2015 , which includes approximately $9 million related to windfall tax benefits attributable to stock-based compensation for which a benefit will be recorded in additional paid-in capital if and when realized. The federal net operating loss carry-forward expires in 2035 . No valuation allowance is required for the federal net operating loss deferred tax asset. 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. DTE Energy has state and local deferred tax assets related to net operating loss carry-forwards of $63 million and $39 million at December 31, 2015 and 2014 , respectively. The state and local net operating loss carry-forwards expire from 2016 through 2035 . DTE Energy has recorded valuation allowances at December 31, 2015 and 2014 of approximately $35 million and $31 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. DTE Electric has state and local deferred tax assets related to net operating loss carry-forwards of $16 million at December 31, 2015 , while there was no state and local deferred tax asset related to net operating loss carry-forwards at December 31, 2014 . No valuation allowance is required for DTE Electric's state and local net operating loss carry-forwards. Uncertain Tax Positions A reconciliation of the beginning and ending amount of unrecognized tax benefits for the Registrants is as follows: 2015 2014 2013 DTE Energy (In millions) Balance at January 1 $ 9 $ 10 $ 11 Lapse of statute of limitations (6 ) (1 ) (1 ) Balance at December 31 $ 3 $ 9 $ 10 2015 2014 2013 DTE Electric (In millions) Balance at January 1 $ 4 $ 4 $ 4 Balance at December 31 $ 4 $ 4 $ 4 DTE Energy had $2 million of unrecognized tax benefits at December 31, 2015 and 2014 , 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 $3 million and $2 million of unrecognized tax benefits at December 31, 2015 and 2014 , respectively, 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 both DTE Energy and DTE Electric totaled $1 million at December 31, 2015 and 2014 . The Registrants had no accrued penalties pertaining to income taxes. The Registrants recognized interest expense (income) related to income taxes of a nominal amount in 2015 , 2014 , and 2013 . In 2015 , DTE Energy, including DTE Electric, settled a federal tax audit for the 2013 tax year. DTE Energy's federal income tax returns for 2014 and subsequent years remain subject to examination by the IRS. DTE Energy's MBT and MCIT 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, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE DTE Energy reports both basic and diluted earnings per share. The calculation of diluted earnings per share assumes the issuance of potentially dilutive common shares outstanding during the period from the exercise of stock options. A reconciliation of both calculations is presented in the following table as of December 31: 2015 2014 2013 (In millions, expect per share amounts) Basic Earnings per Share Net Income Attributable to DTE Energy Company $ 727 $ 905 $ 661 Average number of common shares outstanding 179 177 175 Weighted average net restricted shares outstanding — — 1 Dividends declared — common shares $ 508 $ 475 $ 453 Dividends declared — net restricted shares 2 1 1 Total distributed earnings $ 510 $ 476 $ 454 Net Income less distributed earnings $ 217 $ 429 $ 207 Distributed (dividends per common share) $ 2.84 $ 2.69 $ 2.59 Undistributed 1.21 2.42 1.17 Total Basic Earnings per Common Share $ 4.05 $ 5.11 $ 3.76 Diluted Earnings per Share Net Income Attributable to DTE Energy Company $ 727 $ 905 $ 661 Average number of common shares outstanding 179 177 175 Weighted average net restricted shares outstanding — — 1 Dividends declared — common shares $ 508 $ 475 $ 453 Dividends declared — net restricted shares 2 1 1 Total distributed earnings $ 510 $ 476 $ 454 Net Income less distributed earnings $ 217 $ 429 $ 207 Distributed (dividends per common share) $ 2.84 $ 2.69 $ 2.59 Undistributed 1.21 2.41 1.17 Total Diluted Earnings per Common Share $ 4.05 $ 5.10 $ 3.76 |
Fair Value
Fair Value | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 and 2014 . 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 as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Netting (a) Net Balance Level 1 Level 2 Level 3 Netting (a) Net Balance (In millions) Assets: Cash equivalents (b) $ 13 $ 3 $ — $ — $ 16 $ 13 $ 99 $ — $ — $ 112 Nuclear decommissioning trusts 759 477 — — 1,236 792 449 — — 1,241 Other investments (c) 149 — — — 149 100 50 — — 150 Derivative assets: Commodity Contracts: Natural Gas 193 91 103 (285 ) 102 555 140 92 (681 ) 106 Electricity — 239 68 (232 ) 75 — 295 47 (280 ) 62 Other 2 — 3 (2 ) 3 42 — 3 (42 ) 3 Other derivative contracts (d) — 12 — (9 ) 3 — 4 — (3 ) 1 Total derivative assets 195 342 174 (528 ) 183 597 439 142 (1,006 ) 172 Total $ 1,116 $ 822 $ 174 $ (528 ) $ 1,584 $ 1,502 $ 1,037 $ 142 $ (1,006 ) $ 1,675 Liabilities: Derivative liabilities: Commodity Contracts: Natural Gas $ (218 ) $ (57 ) $ (108 ) $ 294 $ (89 ) $ (578 ) $ (78 ) $ (62 ) $ 679 $ (39 ) Electricity — (243 ) (62 ) 253 (52 ) — (290 ) (52 ) 298 (44 ) Other (2 ) — (8 ) 8 (2 ) (32 ) (9 ) (4 ) 45 — Other derivative contracts (d) — (7 ) — 7 — — (5 ) — 3 (2 ) Total derivative liabilities (220 ) (307 ) (178 ) 562 (143 ) (610 ) (382 ) (118 ) 1,025 (85 ) Total $ (220 ) $ (307 ) $ (178 ) $ 562 $ (143 ) $ (610 ) $ (382 ) $ (118 ) $ 1,025 $ (85 ) Net Assets (Liabilities) at the end of the period $ 896 $ 515 $ (4 ) $ 34 $ 1,441 $ 892 $ 655 $ 24 $ 19 $ 1,590 Assets: Current $ 174 $ 284 $ 128 $ (441 ) $ 145 $ 582 $ 504 $ 109 $ (955 ) $ 240 Noncurrent (e) 942 538 46 (87 ) 1,439 920 533 33 (51 ) 1,435 Total Assets $ 1,116 $ 822 $ 174 $ (528 ) $ 1,584 $ 1,502 $ 1,037 $ 142 $ (1,006 ) $ 1,675 Liabilities: Current $ (174 ) $ (260 ) $ (87 ) $ 464 $ (57 ) $ (572 ) $ (357 ) $ (112 ) $ 964 $ (77 ) Noncurrent (46 ) (47 ) (91 ) 98 (86 ) (38 ) (25 ) (6 ) 61 (8 ) Total Liabilities $ (220 ) $ (307 ) $ (178 ) $ 562 $ (143 ) $ (610 ) $ (382 ) $ (118 ) $ 1,025 $ (85 ) Net Assets (Liabilities) at the end of the period $ 896 $ 515 $ (4 ) $ 34 $ 1,441 $ 892 $ 655 $ 24 $ 19 $ 1,590 _______________________________________ (a) 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. (b) At December 31, 2015 , available-for-sale securities of $16 million included $8 million and $8 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2014 , available-for-sale securities of $112 million , included $105 million and $7 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. (c) Excludes cash surrender value of life insurance investments. (d) Primarily includes foreign currency exchange contracts. (e) Includes $149 million and $150 million at December 31, 2015 and 2014 , respectively, of other investments that are included in DTE Energy's Consolidated Statements of Financial Position in Other investments. The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Net Balance Level 1 Level 2 Level 3 Net Balance (In millions) Assets: Cash equivalents (a) $ 5 $ 3 $ — $ 8 $ 5 $ 99 $ — $ 104 Nuclear decommissioning trusts 759 477 — 1,236 792 449 — 1,241 Other investments 8 — — 8 97 50 — 147 Derivative assets — FTRs — — 3 3 — — 3 3 Total $ 772 $ 480 $ 3 $ 1,255 $ 894 $ 598 $ 3 $ 1,495 Assets: Current $ 5 $ 3 $ 3 $ 11 $ 5 $ 99 $ 3 $ 107 Noncurrent 767 477 — 1,244 889 499 — 1,388 Total Assets $ 772 $ 480 $ 3 $ 1,255 $ 894 $ 598 $ 3 $ 1,495 _______________________________________ (a) At December 31, 2015 , available-for-sale securities of $8 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2014 , available-for-sale securities of $104 million included $96 million and $8 million of cash equivalents included in Restricted cash and Other investments, respectively, on DTE Electric's Consolidated Statements of Financial Position. Cash Equivalents Cash equivalents include investments with maturities of three months or less when purchased. The cash equivalents shown in the fair value table are comprised of short-term investments and money market funds. Nuclear Decommissioning Trusts and Other Investments The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through institutional mutual funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The institutional mutual funds hold exchange-traded equity or debt securities and are valued based on stated NAVs. Non-exchange-traded fixed income securities are valued 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 determines that another price source is considered to be preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices. Additionally, the Registrants selectively corroborate the fair value of securities by comparison of market-based price sources. Investment policies and procedures are determined by DTE Energy's Trust Investments Department which reports to DTE Energy's Vice President and Treasurer. Derivative Assets and Liabilities Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy. The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy for the years ended December 31, 2015 and 2014 : Year Ended December 31, 2015 Year Ended December 31, 2014 Natural Gas Electricity Other Total Natural Gas Electricity Other Total (In millions) Net Assets (Liabilities) as of December 31 $ 30 $ (5 ) $ (1 ) $ 24 $ (52 ) $ 13 $ 3 $ (36 ) Transfers into Level 3 from Level 2 — — — — — — — — Transfers from Level 3 into Level 2 — — — — (2 ) — — (2 ) Total gains (losses): Included in earnings (44 ) 44 (8 ) (8 ) (40 ) 25 (5 ) (20 ) Recorded in Regulatory assets/liabilities — — 12 12 — — 8 8 Purchases, issuances, and settlements: Purchases — 2 — 2 — 1 — 1 Issuances — — — — — (3 ) — (3 ) Settlements 9 (35 ) (8 ) (34 ) 124 (41 ) (7 ) 76 Net Assets (Liabilities) as of December 31 $ (5 ) $ 6 $ (5 ) $ (4 ) $ 30 $ (5 ) $ (1 ) $ 24 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, 2015 and 2014 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations $ (135 ) $ 13 $ (7 ) $ (129 ) $ 35 $ 9 $ (4 ) $ 40 The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric for the years ended December 31, 2015 and 2014 : Year Ended December 31, 2015 2014 (In millions) Net Assets as of December 31 $ 3 $ 3 Change in fair value recorded in Regulatory assets/liabilities 12 8 Purchases, issuances, and settlements: Settlements (12 ) (8 ) Net Assets as of December 31 $ 3 $ 3 The amount of total gains (losses) included in Regulatory assets and liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2015 and 2014 and reflected in DTE Electric's Consolidated Statements of Financial Position $ 3 $ 3 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, 2015 and 2014 , and there were no transfers from or into Level 3 for DTE Electric during the same periods. The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities as of December 31, 2015 and 2014 : December 31, 2015 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 103 $ (108 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (1.50 ) — $ 2.77 /MMBtu $ (0.19 )/MMBtu Electricity $ 68 $ (62 ) Discounted Cash Flow Forward basis price (per MWh) $ (11 ) — $ 14 /MWh $ 2 /MWh December 31, 2014 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 92 $ (62 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (2.28 ) — $ 7.83 /MMBtu $ (0.22 )/MMBtu Electricity $ 47 $ (52 ) Discounted Cash Flow Forward basis price (per MWh) $ (14 ) — $ 15 /MWh $ 4 /MWh The unobservable inputs used in the fair value measurement of the electricity and natural gas commodity types consist of inputs that are less observable due in part to lack of available broker quotes, supported by little, if any, market activity at the measurement date or are based on internally developed models. Certain basis prices (i.e., the difference in pricing between two locations) included in the valuation of natural gas and electricity contracts were deemed unobservable. The inputs listed above would have a direct impact on the fair values of the above security types if they were adjusted. A significant increase (decrease) in the basis price would result in a higher (lower) fair value for long positions, with offsetting impacts to short positions. Fair Value of Financial Instruments The fair value of financial instruments included in the table below is determined by using quoted market prices when available. When quoted prices are not available, pricing services may be used to determine the fair value with reference to observable interest rate indexes. The Registrants have obtained an understanding of how the fair values are derived. The Registrants also selectively corroborate the fair value of their transactions by comparison of market-based price sources. Discounted cash flow analyses based upon estimated current borrowing rates are also used to determine fair value when quoted market prices are not available. The fair values of notes receivable, excluding capital leases, are generally estimated using discounted cash flow techniques that incorporate market interest rates as well as assumptions about the remaining life of the loans and credit risk. Depending on the information available, other valuation techniques may be used that rely on internal assumptions and models. Valuation policies and procedures for the Registrants are determined by DTE Energy's Treasury Department which reports to DTE Energy's Vice President and Treasurer. The following table presents the carrying amount and fair value of financial instruments for DTE Energy as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 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 $ 32 $ — $ — $ 32 $ 41 $ — $ — $ 41 Dividends payable $ 131 $ 131 $ — $ — $ 122 $ 122 $ — $ — Short-term borrowings $ 499 $ — $ 499 $ — $ 398 $ — $ 398 $ — Long-term debt, excluding capital leases $ 9,285 $ 496 $ 8,136 $ 1,203 $ 8,606 $ 489 $ 8,308 $ 706 The following table presents the carrying amount and fair value of financial instruments for DTE Electric as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 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 $ 5 $ — $ — $ 5 $ 12 $ — $ — $ 12 Notes receivable — affiliates $ — $ — $ — $ — $ 8 $ — $ — $ 8 Short-term borrowings — affiliates $ 75 $ — $ — $ 75 $ 84 $ — $ — $ 84 Short-term borrowings — other $ 272 $ — $ 272 $ — 50 $ — $ 50 $ — Long-term debt, excluding capital leases $ 5,624 $ — $ 5,432 $ 545 $ 5,259 $ — $ 5,341 $ 496 For further fair value information on financial and derivative instruments see Note 12 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 ARO 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. DTE Electric is continuing to fund FERC jurisdictional amounts for decommissioning even though explicit provisions are not included in FERC rates. See Note 7 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, 2015 December 31, 2014 (In millions) Fermi 2 $ 1,211 $ 1,221 Fermi 1 3 3 Low-level radioactive waste 22 17 Total $ 1,236 $ 1,241 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, 2015 2014 2013 (In millions) Realized gains $ 39 $ 54 $ 83 Realized losses $ (33 ) $ (33 ) $ (41 ) Proceeds from sales of securities $ 885 $ 1,146 $ 1,118 Realized gains and losses from the sale of securities for the Fermi 2 and the low-level radioactive waste funds are recorded to the Regulatory asset and 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, 2015 December 31, 2014 Fair Unrealized Unrealized Losses Fair Unrealized Unrealized Losses (In millions) Equity securities $ 731 $ 195 $ (68 ) $ 756 $ 204 $ (39 ) Debt securities 499 16 (4 ) 474 21 (2 ) Cash and cash equivalents 6 — — 11 — — $ 1,236 $ 211 $ (72 ) $ 1,241 $ 225 $ (41 ) The debt securities at December 31, 2015 and 2014 had an average maturity of approximately 6 years and 7 years , respectively. Securities held in the Nuclear decommissioning trust funds are classified as available-for-sale. As DTE Electric does not have the ability to hold impaired investments for a period of time sufficient to allow for the anticipated recovery of market value, all unrealized losses are considered to be other-than-temporary impairments. Unrealized losses incurred by the Fermi 2 trust are recognized as a Regulatory asset. Other Securities At December 31, 2015 and 2014 , the Registrants' securities were comprised primarily of money market and equity securities. There were no unrealized losses on available-for-sale securities which were reclassified out of Other comprehensive income (loss) and realized into Net Income for DTE Energy or DTE Electric during the years ended December 31, 2015 and 2014 . Gains related to trading securities held at December 31, 2015 , 2014 , and 2013 were $1 million , $14 million , and $22 million , respectively, for DTE Energy, including $1 million , $12 million , and $19 million , respectively, relating to DTE Electric. The trading 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, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial and Other Derivative Instruments | FINANCIAL AND OTHER DERIVATIVE INSTRUMENTS The Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the portion of the derivative gain or loss that is effective in offsetting the change in the value of the underlying exposure is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. Gains or losses from the ineffective portion of cash flow hedges are recognized in earnings immediately. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period. The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain coal forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas inventory, pipeline transportation contracts, renewable energy credits, and natural gas storage assets. DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward energy contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized. DTE Gas — DTE Gas purchases, stores, transports, distributes and sells natural gas, and sells storage and transportation capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2018. 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 transportation and storage of natural gas. Primarily fixed-priced contracts are used in the marketing and management of transportation and storage services. Generally these contracts are not derivatives and are therefore accounted for under the accrual method. Power and Industrial Projects — This segment manages and operates energy and pulverized coal projects, a coke battery, reduced emissions fuel projects, landfill gas recovery, and power generation assets. Primarily fixed-price contracts are used in the marketing and management of the segment assets. These contracts are generally not derivatives and are therefore accounted for under the accrual method. Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met. Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. DTE Energy 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, 2015 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements. Derivative Activities DTE Energy manages its MTM risk on a portfolio basis based upon the delivery period of its contracts and the individual components of the risks within each contract. Accordingly, it records and manages the energy purchase and sale obligations under its contracts in separate components based on the commodity (e.g. electricity or natural gas), the product (e.g. electricity for delivery during peak or off-peak hours), the delivery location (e.g. by region), the risk profile (e.g. forward or option), and the delivery period (e.g. by month and year). The following describes the categories of activities represented by their operating characteristics and key risks: • Asset Optimization — Represents derivative activity associated with assets owned and contracted by DTE Energy, including forward natural gas purchases and sales, natural gas transportation, and storage capacity. Changes in the value of derivatives in this category typically economically offset changes in the value of underlying non-derivative positions, which do not qualify for fair value accounting. The difference in accounting treatment of derivatives in this category and the underlying non-derivative positions can result in significant earnings volatility. • Marketing and Origination — Represents derivative activity transacted by originating substantially hedged positions with wholesale energy marketers, producers, end-users, utilities, retail aggregators, and alternative energy suppliers. • Fundamentals Based Trading — Represents derivative activity transacted with the intent of taking a view, capturing market price changes, or putting capital at risk. This activity is speculative in nature as opposed to hedging an existing exposure. • Other — Includes derivative activity at DTE Electric related to FTRs. Changes in the value of derivative contracts at DTE Electric are recorded as Derivative assets or liabilities, with an offset to Regulatory assets or liabilities as the settlement value of these contracts will be included in the PSCR mechanism when realized. The following table presents the fair value of derivative instruments as of December 31, 2015 and 2014 for DTE Energy: December 31, 2015 December 31, 2014 Derivative Derivative Derivative Derivative (In millions) Derivatives not designated as hedging instruments: Foreign currency exchange contracts $ 12 $ (7 ) $ 4 $ (5 ) Commodity Contracts: Natural Gas 387 (383 ) 787 (718 ) Electricity 307 (305 ) 342 (342 ) Other 5 (10 ) 45 (45 ) Total derivatives not designated as hedging instruments: $ 711 $ (705 ) $ 1,178 $ (1,110 ) Current $ 570 $ (521 ) $ 1,083 $ (1,041 ) Noncurrent 141 (184 ) 95 (69 ) Total derivatives $ 711 $ (705 ) $ 1,178 $ (1,110 ) The following table presents the fair value of derivative instruments as of December 31, 2015 and 2014 for DTE Electric: December 31, 2015 2014 (In millions) FTRs — Other current assets $ 3 $ 3 Total derivatives not designated as hedging instrument $ 3 $ 3 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 $7 million at December 31, 2015 and 2014 , 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 $2 million and $5 million at December 31, 2015 and 2014 , 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. Certain contracts that have netting arrangements have not been offset in DTE Energy's Consolidated Statements of Financial Position. The impact of netting these derivative instruments and cash collateral related to such contracts is not material. Only the gross amounts for these derivative instruments are included in the table below. For DTE Energy, the total cash collateral posted, net of cash collateral received, was $37 million and $61 million as of December 31, 2015 and 2014 , respectively. There was $2 million of cash collateral related to unrealized positions to net against Derivative assets while Derivative liabilities are shown net of cash collateral of $36 million as of December 31, 2015 . There was no cash collateral related to unrealized positions to net against Derivative assets while Derivative liabilities are shown net of cash collateral of $19 million as of December 31, 2014 . DTE Energy recorded cash collateral paid of $6 million and cash collateral received of $3 million not related to unrealized derivative positions as of December 31, 2015 . DTE Energy recorded cash collateral paid of $44 million and cash collateral received of $2 million not related to unrealized derivative positions as of December 31, 2014 . These amounts are included in Accounts receivable and Accounts payable and are recorded net by counterparty. The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 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 $ 387 $ (285 ) $ 102 $ 787 $ (681 ) $ 106 Electricity 307 (232 ) 75 342 (280 ) 62 Other 5 (2 ) 3 45 (42 ) 3 Other derivative contracts (a) 12 (9 ) 3 4 (3 ) 1 Total derivative assets $ 711 $ (528 ) $ 183 $ 1,178 $ (1,006 ) $ 172 Derivative liabilities: Commodity Contracts: Natural Gas $ (383 ) $ 294 $ (89 ) $ (718 ) $ 679 $ (39 ) Electricity (305 ) 253 (52 ) (342 ) 298 (44 ) Other (10 ) 8 (2 ) (45 ) 45 — Other derivative contracts (a) (7 ) 7 — (5 ) 3 (2 ) Total derivative liabilities $ (705 ) $ 562 $ (143 ) $ (1,110 ) $ 1,025 $ (85 ) _______________________________________ (a) Primarily includes foreign currency exchange contracts. The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Current Noncurrent Current Noncurrent Current Noncurrent Current Noncurrent (In millions) Total fair value of derivatives $ 570 $ 141 $ (521 ) $ (184 ) $ 1,083 $ 95 $ (1,041 ) $ (69 ) Counterparty netting (441 ) (85 ) 441 85 (955 ) (51 ) 955 51 Collateral adjustment — (2 ) 23 13 — — 9 10 Total derivatives as reported $ 129 $ 54 $ (57 ) $ (86 ) $ 128 $ 44 $ (77 ) $ (8 ) The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations for years ended December 31, 2015 and 2014 is as follows: Location of Gain Gain (Loss) Recognized in Derivatives not Designated as Hedging Instruments 2015 2014 (In millions) Foreign currency exchange contracts Operating Revenues — Non-utility operations $ 3 $ (2 ) Commodity Contracts: Natural Gas Operating Revenues — Non-utility operations (34 ) (30 ) Natural Gas Fuel, purchased power, and gas — non-utility (44 ) (5 ) Electricity Operating Revenues — Non-utility operations 54 123 Other Operating Revenues — Non-utility operations (7 ) (7 ) Total $ (28 ) $ 79 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, 2015 : Commodity Number of Units Natural Gas (MMBtu) 1,740,824,930 Electricity (MWh) 27,668,865 Oil (Gallons) 21,756,000 Foreign Currency Exchange (Canadian dollars) 72,328,008 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, 2015 , DTE Energy's contractual obligation to post collateral in the form of cash or letters of credit in the event of a downgrade to below investment grade, under both hard trigger and soft trigger provisions, was approximately $412 million . As of December 31, 2015 , DTE Energy had approximately $592 million of derivatives in net liability positions, for which hard triggers exist. Collateral of approximately $5 million has been posted against such liabilities, including cash and letters of credit. Associated derivative net asset positions for which contractual offset exists were approximately $500 million . The net remaining amount of approximately $87 million is derived from the $412 million noted above. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2015 | |
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 (a) of debt outstanding at December 31 were: 2015 2014 (In millions) Mortgage bonds, notes, and other DTE Energy Debt, Unsecured 4.4% due 2016 to 2033 $ 1,947 $ 1,647 DTE Electric Taxable Debt, Principally Secured 4.4% due 2016 to 2045 5,314 4,824 DTE Electric Tax-Exempt Revenue Bonds (b) 5.2% due 2020 to 2030 310 330 DTE Gas Taxable Debt, Principally Secured 4.9% due 2018 to 2045 1,124 1,099 Other Long-Term Debt, Including Non-Recourse Debt 110 121 DTE Energy Total Long-Term Debt 8,805 8,021 Less amount due within one year for DTE Energy (465 ) (161 ) $ 8,340 $ 7,860 DTE Electric Securitization Bonds 6.6% due 2015 $ — $ 105 Less amount due within one year — (105 ) $ — $ — DTE Energy Junior Subordinated Debentures 6.5% due 2061 $ 280 $ 280 5.25% due 2062 200 200 $ 480 $ 480 DTE Electric's long-term debt outstanding and weighted average interest rates (a) of debt outstanding at December 31 were: 2015 2014 (In millions) Mortgage bonds, notes, and other DTE Electric Taxable Debt, Principally Secured 4.4% due 2016 to 2045 $ 5,314 $ 4,824 DTE Electric Tax-Exempt Revenue Bonds (b) 5.2% due 2020 to 2030 310 330 DTE Electric Total Long-Term Debt 5,624 5,154 Less amount due within one year for DTE Electric (151 ) (10 ) $ 5,473 $ 5,144 DTE Electric Securitization Bonds 6.6% due 2015 $ — $ 105 Less amount due within one year — (105 ) $ — $ — _______________________________________ (a) Weighted average interest rates as of December 31, 2015 are shown below the description of each category of debt. (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. Debt Issuances In 2015 , the following debt was issued: Company Month Type Interest Rate Maturity Amount (In millions) DTE Electric March Mortgage Bonds (a) 3.70% 2045 $ 500 DTE Energy June Senior Notes (b) 3.30% 2022 300 DTE Gas August Mortgage Bonds (c) 3.35% 2027 40 DTE Gas August Mortgage Bonds (c) 4.21% 2045 125 $ 965 _______________________________________ (a) Proceeds were used for the redemption of long-term debt, repayment of short-term borrowings, and general corporate purposes. (b) Proceeds were used for general corporate purposes. (c) Proceeds were used for the redemption of long-term debt and general corporate purposes. Debt Redemptions In 2015 , the following debt was redeemed: Company Month Type Interest Rate Maturity Amount (In millions) DTE Electric March Securitization Bonds 6.62% 2015 $ 105 DTE Electric March Mortgage Bonds 7.904% 2016 10 DTE Gas September Senior Notes 5.94% 2015 140 DTE Electric December Tax-Exempt Revenue Bonds 5.00% 2015 20 DTE Energy Various Other Long-Term Debt Various 2015 11 $ 286 The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount or premium on debt: 2016 2017 2018 2019 2020 2021 and Thereafter Total (In millions) DTE Energy (a) $ 465 $ 9 $ 407 $ 427 $ 688 $ 7,304 $ 9,300 DTE Electric $ 151 $ — $ 300 $ — $ 632 $ 4,552 $ 5,635 _______________________________________ (a) Amounts include DTE Electric's scheduled debt maturities. Junior Subordinated Debentures At December 31, 2015 , DTE Energy had $280 million of 6.5% Junior Subordinated Debentures due 2061 and $200 million of 5.25% Junior Subordinated Debentures due 2062. 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, 2015 , 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. |
Preferred and Preference Securi
Preferred and Preference Securities | 12 Months Ended |
Dec. 31, 2015 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Preferred and Preference Securities | PREFERRED AND PREFERENCE SECURITIES As of December 31, 2015 , 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, 2015 | |
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 facilities 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, 2015 , the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.51 to 1, 0.51 to 1, and 0.48 to 1, respectively, and are in compliance with this financial covenant. The availability under the facilities in place at December 31, 2015 is shown in the following table: DTE Energy DTE Electric DTE Gas Total (In millions) Unsecured letter of credit facility, expiring in February 2017 $ 100 $ — $ — $ 100 Unsecured letter of credit facility, expiring in September 2017 70 — — 70 Unsecured revolving credit facility, expiring April 2020 1,200 400 300 1,900 1,370 400 300 2,070 Amounts outstanding at December 31, 2015 Commercial paper issuances 33 272 194 499 Letters of credit 130 — — 130 163 272 194 629 Net availability at December 31, 2015 $ 1,207 $ 128 $ 106 $ 1,441 DTE Energy has other outstanding letters of credit which are not included in the above described facilities totaling approximately $17 million which are used for various corporate purposes. The weighted average interest rate for short-term borrowings was 0.6% and 0.4% at December 31, 2015 and 2014 , respectively, for DTE Energy. The weighted average interest rate for short-term borrowings was 0.7% and 0.5% at December 31, 2015 and 2014 , 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, 2015 , a $25 million letter of credit was in place, raising the capacity under this facility to $125 million . The $25 million letter of credit is included in the table above. The amount outstanding under this agreement was $103 million and $37 million at December 31, 2015 and 2014 , 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, 2015 , the effect of this provision was to restrict the payment of approximately $920 million of Retained earnings totaling $4.8 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, 2015 | |
Leases [Abstract] | |
Capital and Operating Leases | CAPITAL AND OPERATING LEASES Lessee - Operating Lease — The Registrants lease various assets under operating leases, including coal railcars, office buildings, a warehouse, computers, vehicles, and other equipment. The lease arrangements expire at various dates through 2046 . The Registrants' future minimum lease payments under non-cancelable leases at December 31, 2015 were: DTE Energy DTE Electric Operating Operating (In millions) 2016 $ 37 $ 24 2017 30 18 2018 25 15 2019 21 14 2020 13 10 Thereafter 71 35 Total minimum lease payments $ 197 $ 116 Rental expense for DTE Energy operating leases was $43 million in 2015 , $38 million in 2014 , and $34 million in 2013 , including rental expense for DTE Electric operating leases of $32 million in 2015 , $26 million in 2014 , and $28 million in 2013 . Lessor - Capital Lease — DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a capital lease contract that expires in 2020, with renewal options extending for five years. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has an energy services agreement, a portion of which is accounted for as a capital lease. The agreement expires in 2019, with a three or five year renewal option. The components of DTE Energy's net investment in capital leases at December 31, 2015 , were as follows: DTE Energy Capital Leases (In millions) 2016 $ 13 2017 13 2018 13 2019 10 2020 9 Thereafter — Total minimum future lease receipts 58 Residual value of leased pipeline 40 Less unearned income (27 ) Net investment in capital lease 71 Less current portion (6 ) $ 65 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
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 sulfur dioxide and nitrogen oxides. The EPA and the State of Michigan have 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 nitrogen oxide, sulfur dioxide, mercury and other emissions. Additional rulemakings are expected over the next few years which could require additional controls for sulfur dioxide, nitrogen oxides, and hazardous air pollutants. The Cross State Air Pollution Rule (CSAPR), required further reductions of sulfur dioxide and nitrogen oxides emissions beginning in January 2015. DTE Electric expects to meet its obligations under CSAPR. In November 2015, the EPA proposed an update to the CSAPR ozone season program by issuing the CSAPR Update Rule. The proposed rule was subsequently published in the Federal Register in December 2015. Beginning in 2017, this proposal would reduce summertime (May - September) emissions of oxides of nitrogen (NOX) from power plants in 23 states in the eastern half of the U.S., including DTE Energy facilities. The CSAPR Update Rule is intended to reduce air quality impacts of the interstate transport of air pollution on downwind areas' ability to meet the 2008 ozone standard and to respond to the July 2015 remand of certain CSAPR budgets by the U.S. Court of Appeals for the D.C. Circuit. EPA expects to promulgate the final rule in the summer of 2016. It is not possible to quantify the impact of this rulemaking at this time. The Mercury and Air Toxics Standards (MATS) rule, formerly known as the Electric Generating Unit Maximum Achievable Control Technology (EGU MACT) Rule was finalized in December 2011. The MATS rule required reductions of mercury and other hazardous air pollutants beginning in April 2015. DTE Electric requested and was granted compliance date extensions for all relevant units to April 2016. DTE Electric has tested several technologies as MATS compliance alternatives to Flue Gas Desulfurization (FGD) systems to determine technological and economic feasibility. Dry Sorbent Injection (DSI) and Activated Carbon Injection (ACI) technologies were deemed feasible and their implementation will allow units that would not have been economical for FGD installations to continue operation in compliance with MATS. In November 2014, the U.S. Supreme Court agreed to review a challenge to the MATS rule based on a narrowly focused question of how the EPA considered costs in regulating air pollutants emitted by electric utilities. In June 2015, the U.S. Supreme Court reversed the decision of the Court of Appeals for the D.C. District and remanded the MATS rule to the Court of Appeals for further consideration based on their decision that the EPA must consider costs prior to deciding to regulate under the provisions of the Clean Air Act. Subsequently, in December 2015, the Court of Appeals ordered a remand of the MATS rule back to the EPA without staying the rule. DTE Electric does not expect this decision to have a material effect on its compliance plans at this time. 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 will recommend designations by October 2016 and the EPA will finalize designations by October 2017. DTE Electric cannot predict the financial impact of the revised ozone standards at this time. In July 2009, DTE Energy received a NOV/FOV from the EPA alleging, among other things, that five DTE Electric power plants violated New Source Performance standards, Prevention of Significant Deterioration requirements, and operating permit requirements under the Clean Air Act. In June 2010, the EPA issued a NOV/FOV making similar allegations related to a project and outage at Unit 2 of the Monroe Power Plant. In March 2013, DTE Energy received a supplemental NOV from the EPA relating to the July 2009 NOV/FOV. The supplemental NOV alleged additional violations relating to the New Source Review provisions under the Clean Air Act, among other things. In August 2010, the U.S. Department of Justice, at the request of the EPA, brought a civil suit in the U.S. District Court for the Eastern District of Michigan against DTE Energy and DTE Electric, related to the June 2010 NOV/FOV and the outage work performed at Unit 2 of the Monroe Power Plant, but not relating to the July 2009 NOV/FOV. Among other relief, the EPA requested the court to require DTE Electric to install and operate the best available control technology at Unit 2 of the Monroe Power Plant. Further, the EPA requested the court to issue a preliminary injunction to require DTE Electric to (i) begin the process of obtaining the necessary permits for the Monroe Unit 2 modification and (ii) offset the pollution from Monroe Unit 2 through emissions reductions from DTE Electric's fleet of coal-fired power plants until the new control equipment is operating. 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 caused to be 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 caused to be 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 addition, the Sierra Club caused to be filed a motion to add a claim regarding the River Rouge Power Plant. In March 2014, the U.S. District Court judge granted again 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, Trenton Channel Unit 9 and denied the claims related to River Rouge Power Plant that were brought by the Sierra Club. In June 2014, the EPA filed a motion requesting certification for appeal of the March 2014 summary judgment decision. In October 2014, the EPA and the U.S. Department of Justice filed the anticipated notice of appeal of the U.S. District Court judge's dismissal of the Monroe Unit 2 case. The amended New Source Review claims are all stayed until the appeal is resolved by the Court of Appeals for the Sixth Circuit. Oral arguments for the appeal occurred in December 2015. 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 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 is implementing regulatory actions under the Clean Air Act to address emissions of GHGs from the utility sector and other sectors of the economy. Among these actions, the EPA has finalized performance standards for emissions of carbon dioxide from new and existing electric generating units (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. It is not possible to determine the potential impact of the final carbon standards (also known as the EPA Clean Power Plan) on existing sources at this time. Pending or future legislation or other regulatory actions could have a material impact on DTE Electric's operations and financial position and the rates charged to its customers. Impacts include expenditures for environmental equipment beyond what is currently planned, financing costs related to additional capital expenditures, the purchase of emission credits from market sources, higher costs of purchased power, and the retirement of facilities where control equipment is not economical. DTE Electric would seek to recover these incremental costs through increased rates charged to its utility customers, as authorized by the MPSC. To comply with air pollution requirements, DTE Electric spent approximately $2.3 billion through 2015 . DTE Electric estimates making capital expenditures of approximately $40 million in 2016 . Water — In response to an EPA regulation, DTE Electric would be required to examine alternatives for reducing the environmental impacts of the cooling water intake structures at several of its facilities. Based on the results of completed studies and expected future studies, DTE Electric may be required to install technologies to reduce the impacts of the water intake structures. A final rule became effective in October 2015. The final rule requires studies to be completed by April 2018 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, 2015 and 2014 , DTE Electric had $8 million and $10 million accrued for remediation, respectively. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Electric’s financial position and cash flows. DTE Electric believes the likelihood of a material change to the accrued amount is remote based on current knowledge of the conditions at each site. Coal Combustion Residuals and Effluent Limitations Guidelines — A final EPA rule for the disposal of coal combustion residuals, commonly known as coal ash became effective in October 2015. The rule is based on the continued listing of coal ash as a non-hazardous waste and relies on various self-implementation design and performance standards. DTE Electric owns and operates three permitted engineered coal ash storage facilities to dispose of coal ash from coal-fired power plants and operates a number of smaller impoundments at its power plants. At certain facilities, the rule requires the installation of monitoring wells, compliance with groundwater standards, and the closure of basins at the end of the useful life of the associated power plant. At other facilities, the rule requires ash laden waters be moved from earthen basins to steel and concrete tanks. In November 2015, the EPA finalized effluent limitations guidelines for the steam electric power generating industry which may require additional controls to be installed between 2018 and 2023. Certain effluent limitations guidelines requirements will be required to be performed in conjunction with the coal combustion residuals requirements. Costs associated with the building of new facilities over the next seven years to comply with coal combustion residuals requirements and effluent limitations guidelines are estimated to be approximately $290 million . See Note 7 to the Consolidated Financial Statements, " Asset Retirement Obligations ", for estimated costs of closure of old facilities. 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 five of the MGP sites is complete and the sites are closed. DTE Gas has also completed partial closure of two 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, 2015 and 2014 , DTE Gas had $22 million and $24 million accrued for remediation, respectively. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Gas' financial position and cash flows. DTE Gas anticipates the cost amortization methodology approved by the MPSC, which allows for amortization of the MGP costs over a ten -year period beginning with the year subsequent to the year the MGP costs were incurred, will prevent environmental costs from having a material adverse impact on DTE Gas' results of operations. Non-utility DTE Energy’s non-utility businesses are subject to a number of environmental laws and regulations dealing with the protection of the environment from various pollutants. The Michigan coke battery facility received and responded to information requests from the EPA that resulted in the issuance of a NOV in June 2007 alleging potential maximum achievable control technologies and new source review violations. The EPA is in the process of reviewing DTE Energy’s position of demonstrated compliance and has not initiated escalated enforcement. At this time, DTE Energy cannot predict the impact of this issue but expects no further action. Furthermore, the Michigan coke battery facility is the subject of an investigation by the MDEQ concerning visible emissions readings that resulted from DTE Energy self reporting to MDEQ questionable activities by an employee of a contractor hired by DTE Energy to perform the visible emissions readings. At this time, DTE Energy cannot predict the impact of this investigation. The Shenango coke battery received two NOVs from the Pennsylvania Department of Environmental Protection (PADEP) in 2010 alleging violations of the permit for the Pennsylvania coke battery facility in connection with coal pile storm water runoff. DTE Energy settled the alleged violations by implementing best management practices to address the issues and repair/upgrade its wastewater treatment plant. DTE Energy received a construction permit to upgrade its existing waste water treatment system. Due to the December 2015 decision to close the Shenango coke battery in January 2016, DTE Energy will not proceed with the upgrade to its wastewater treatment system. The Shenango coke battery received an NOV from the Allegheny County, PA Health Department pertaining to excessive opacity readings from fugitive sources in excess of its standards for the Pennsylvania coke battery facility. Fugitive sources at the plant are in full compliance with the applicable Federal Opacity Standards. DTE Energy agreed to a Consent Order and Agreement with Allegheny County pursuant to which DTE Energy paid a fine of $300,000 and spent $300,000 for a supplemental environmental project. In May 2014, the Group Against Smog & Pollution (GASP) filed a complaint alleging that DTE Energy's coke battery facility in Pennsylvania was in violation of visible emissions limits under the Federal Clean Air Act and/or Article XXI of the Allegheny County, PA Health Department's Rules and Regulations. DTE Energy believed that the GASP suit was without merit and filed a motion to dismiss in July 2014. In March 2015, the U.S. District Court granted DTE Energy's motion for dismissal. In April 2015, GASP filed a notice of appeal. In January 2016, the U.S. Court of Appeals for the Third Circuit affirmed the judgment of dismissal. Other In 2010, the EPA finalized a new 1 -hour sulfur dioxide ambient air quality standard that requires states to submit plans for non-attainment areas to be in compliance by 2018. Michigan's 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 sulfur dioxide 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 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. Nuclear Operations Property Insurance DTE Electric maintains property insurance policies specifically for the Fermi 2 plant. These policies cover such items as replacement power and property damage. NEIL is the primary supplier of the insurance policies. DTE Electric maintains a policy for extra expenses, including replacement power costs necessitated by Fermi 2’s unavailability due to an insured event. This policy has a 12-week waiting period and provides an aggregate $490 million of coverage over a three -year period. DTE Electric has $1.5 billion in primary coverage and $1.25 billion of excess coverage for stabilization, decontamination, debris removal, repair and/or replacement of property, and decommissioning. The combined coverage limit for total property damage is $2.75 billion . The total limit for property damage for non-nuclear events is $2 billion and an aggregate of $328 million of coverage for extra expenses over a two -year period. On January 13, 2015, the Terrorism Risk Insurance Program Reauthorization Act of 2015 was signed, extending TRIA through December 31, 2020. For multiple terrorism losses caused by acts of terrorism not covered under the TRIA occurring within one year after the first loss from terrorism, the NEIL policies would make available to all insured entities up to $3.2 billion , plus any amounts recovered from reinsurance, government indemnity, or other sources to cover losses. Under NEIL policies, DTE Electric could be liable for maximum assessments of up to approximately $45 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 $375 million of public liability insurance for a nuclear incident. For liabilities arising from a terrorist act outside the scope of TRIA, the policy is subject to one industry aggregate limit of $300 million . Further, under the Price-Anderson Amendments Act of 2005, deferred premium charges up to $127 million could be levied against each licensed nuclear facility, but not more than $19 million per year per facility. Thus, deferred premium charges could be levied against all owners of licensed nuclear facilities in the event of a nuclear incident at any of these facilities. Nuclear Fuel Disposal Costs In accordance with the Federal Nuclear Waste Policy Act of 1982, DTE Electric has a contract with the DOE for the future storage and disposal of spent nuclear fuel from Fermi 2 that required DTE Electric to pay the DOE a fee of 1 mill per kWh of Fermi 2 electricity generated and sold. The fee was a component of nuclear fuel expense. The 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 2016. 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. The 1 mill per kWh DOE fee was reduced to zero effective May 16, 2014. DTE Electric currently employs a spent nuclear fuel storage strategy utilizing a fuel pool and a newly completed dry cask storage facility. The dry cask storage facility 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. 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, 2015 is approximately $850 million . Payment under these guarantees is considered remote. REF Guarantees DTE Energy has provided certain guarantees and indemnities in conjunction with the sales of interests in or lease of its REF facilities. The guarantees cover potential commercial, environmental, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations. DTE Energy estimates that its maximum potential liability under these guarantees at December 31, 2015 is approximately $268 million . Payment under these guarantees is 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 $56 million at December 31, 2015 . Payment under these guarantees is considered remote. DTE Energy is periodically required to obtain performance surety bonds in support of obligations to various governmental entities and other companies in connection with its operations. As of December 31, 2015 , DTE Energy had approximately $55 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's approximately 4,900 represented employees, including DTE Electric's approximately 2,600 represented employees. The majority of the represented employees are under contracts that expire in 2016 and 2017. Purchase Commitments As of December 31, 2015 , 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 2016 through 2051 for DTE Energy, and 2016 through 2033 for DTE Electric, as detailed in the following table: DTE Energy DTE Electric (In millions) 2016 $ 2,038 $ 493 2017 1,160 412 2018 611 240 2019 397 120 2020 353 88 2021 and thereafter 3,043 992 $ 7,602 $ 2,345 DTE Energy and DTE Electric expect that 2016 annual capital expenditures and contributions to equity method investees will be approximately $2.7 billion and $1.6 billion , respectively. The Registrants have made certain commitments in connection with the estimated 2016 annual capital expenditures and contributions to equity method investees. Bankruptcies Certain of the Registrants' customers and suppliers have filed for bankruptcy protection under the U.S. Bankruptcy Code. The Registrants regularly review contingent matters relating to these customers and suppliers and their purchase and sale contracts, and record provisions for amounts considered at risk of probable loss in the allowance for doubtful accounts. The Registrants believe their accrued amounts are adequate for probable loss. Michigan Sales and Use Tax Litigation In 2010, the Michigan Department of Treasury finalized a sales and use tax audit of DTE Electric for the period from January 2003 to September 2006. It determined that DTE Electric’s electric distribution equipment was not eligible for an industrial-processing exemption and therefore was subject to the use tax. DTE Electric paid the tax for the period under audit and filed a claim in the Michigan Court of Claims disputing the tax determination. DTE Electric has continued to apply an appropriate industrial-processing exemption percentage, where applicable, for purchases in the years subsequent to 2006. The Michigan Court of Claims found in favor of DTE Electric, and that determination was subsequently appealed to the Michigan Supreme Court. In July 2015, the Michigan Supreme Court issued an opinion finding that DTE Electric was eligible for a partial industrial-processing exemption on its electric distribution equipment based on the proportion of exempt use of that equipment. The Supreme Court reversed the lower court decision in part and remanded the case to the Michigan Court of Claims. DTE Electric reached a settlement with the Michigan Department of Treasury in February 2016 and will receive a partial refund of amounts previously paid. 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 8 and 12 to the Consolidated Financial Statements, " Regulatory Matters " and " Financial and Other Derivative Instruments ", respectively. |
Retirement Benefits and Trustee
Retirement Benefits and Trusteed Assets | 12 Months Ended |
Dec. 31, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Retirement Benefits and Trusteed Assets | RETIREMENT BENEFITS AND TRUSTEED ASSETS 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 employees’ years of benefit service, average final compensation, and age at retirement. In addition, certain represented and non-represented employees are covered under cash balance provisions that determine benefits on annual employer contributions and interest credits. DTE Energy also maintains supplemental nonqualified, noncontributory, retirement benefit plans for selected management employees. These plans provide for benefits that supplement those provided by DTE Energy’s other retirement plans. DTE Electric participates in various plans that provide pension and other postretirement benefits for DTE Energy and its affiliates. The plans are sponsored by DTE Energy Corporate Services, LLC (LLC), a subsidiary of DTE Energy. DTE Electric is allocated net periodic benefit costs for its share of the amounts of the combined plans. Effective January 1, 2012 for the Registrants' non-represented employees, and in June 2011 for certain DTE Energy represented employees and March 2013 for the majority of DTE Electric represented employees, the Registrants discontinued offering a defined benefit retirement plan to newly hired employees. In its place, the Registrants will 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. 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. DTE Energy contributed $177 million , including $145 million of DTE Electric contributions, to the qualified pension plans in 2015 . At the discretion of management, and depending upon financial market conditions, DTE Energy anticipates making up to $180 million in contributions, including $145 million of DTE Electric contributions, to the pension plans in 2016 . Net pension cost for DTE Energy includes the following components: 2015 2014 2013 (In millions) Service cost $ 100 $ 83 $ 94 Interest cost 210 212 192 Expected return on plan assets (296 ) (273 ) (266 ) Amortization of net actuarial loss 205 157 208 Special termination benefits 2 — — Net pension cost $ 221 $ 179 $ 228 2015 2014 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial loss $ 19 $ 805 Amortization of net actuarial loss (205 ) (157 ) Prior service credit — (7 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (186 ) $ 641 Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 35 $ 820 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 $ 162 $ 206 Net pension cost for DTE Electric includes the following components: 2015 2014 2013 (In millions) Service cost $ 77 $ 64 $ 73 Interest cost 160 162 146 Expected return on plan assets (210 ) (194 ) (184 ) Amortization of: Net actuarial loss 147 110 148 Prior service cost 1 2 1 Special termination benefits 1 — — Net pension cost $ 176 $ 144 $ 184 2015 2014 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial (gain) loss $ (13 ) $ 614 Amortization of net actuarial loss (147 ) (110 ) Prior service credit — (2 ) Amortization of prior service cost (1 ) (2 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (161 ) $ 500 Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 15 $ 644 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 $ 115 $ 149 Prior service cost $ 1 $ 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 the Registrants' Consolidated Statements of Financial Position at December 31: DTE Energy DTE Electric 2015 2014 2015 2014 (In millions) Accumulated benefit obligation, end of year $ 4,569 $ 4,853 $ 3,401 $ 3,712 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 5,269 $ 4,380 $ 4,018 $ 3,341 Service cost 100 83 75 64 Interest cost 210 212 156 162 Plan amendments — (7 ) — (2 ) Actuarial (gain) loss (357 ) 836 (273 ) 634 Transfer due to plan sponsorship change — — (99 ) — Special termination benefits 2 — — — Benefits paid (253 ) (235 ) (192 ) (181 ) Projected benefit obligation, end of year $ 4,971 $ 5,269 $ 3,685 $ 4,018 Change in plan assets Plan assets at fair value, beginning of year $ 3,981 $ 3,720 $ 2,812 $ 2,632 Actual return on plan assets (79 ) 301 (56 ) 212 Company contributions 183 195 145 149 Benefits paid (253 ) (235 ) (192 ) (181 ) Plan assets at fair value, end of year $ 3,832 $ 3,981 $ 2,709 $ 2,812 Funded status of the plans $ (1,139 ) $ (1,288 ) $ (976 ) $ (1,206 ) Amount recorded as: Current liabilities $ (6 ) $ (8 ) $ — $ (6 ) Noncurrent liabilities (1,133 ) (1,280 ) (976 ) (1,200 ) $ (1,139 ) $ (1,288 ) $ (976 ) $ (1,206 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 180 $ 194 $ — $ 44 Prior service credit (1 ) (1 ) — — $ 179 $ 193 $ — $ 44 Amounts recognized in Regulatory assets (see Note 8 - "Regulatory Matters") Net actuarial loss $ 2,113 $ 2,285 $ 1,588 $ 1,738 Prior service cost (credit) (1 ) (1 ) 4 5 $ 2,112 $ 2,284 $ 1,592 $ 1,743 At December 31, 2015 , the benefits related to the Registrants' 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: DTE Energy DTE Electric (In millions) 2016 $ 274 $ 213 2017 285 221 2018 297 231 2019 306 238 2020 314 244 2021-2025 1,662 1,279 Total $ 3,138 $ 2,426 Assumptions used in determining the projected benefit obligation and net pension costs of the Registrants are: 2015 2014 2013 Projected benefit obligation Discount rate 4.50% 4.12% 4.95% Rate of compensation increase 4.65% 4.65% 4.20% Net pension costs Discount rate 4.12% 4.95% 4.15% Rate of compensation increase 4.65% 4.20% 4.20% Expected long-term rate of return on plan assets 7.75% 7.75% 8.25% The Registrants employ 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 7.75% and other postretirement benefit plans of 8.00% for 2016 . The Registrants believe these rates are a reasonable assumption for the long-term rate of return on plan assets for 2016 given the current investment strategy. The Registrants employ a total return investment approach whereby a mix of equities, fixed income, and other investments are used to maximize the long-term return on plan assets consistent with prudent levels of risk, with consideration given to the liquidity needs of the plan. Risk tolerance is established through consideration of future plan cash flows, plan funded status, and corporate financial considerations. The investment portfolio contains a diversified blend of equity, fixed income, and other investments. Furthermore, equity investments are diversified across U.S. and non-U.S. stocks, growth and value stocks, and large and small market capitalizations. Fixed income securities generally include market duration bonds of companies from diversified industries, mortgage-backed securities, non-U.S. securities, bank loans, and U.S. Treasuries. Pension assets include long duration U.S. government and diversified corporate bonds intended to partially mitigate liability volatility caused by changes in discount rates. Other assets, such as private markets and hedge funds, are used to enhance long-term returns while improving portfolio diversification. Derivatives may be utilized in a risk controlled manner, to potentially increase the portfolio beyond the market value of invested assets and/or reduce portfolio investment risk. Investment risk is measured and monitored on an ongoing basis through annual liability measurements, periodic asset/liability studies, and quarterly investment portfolio reviews. Target allocations for the Registrants' pension plan assets as of December 31, 2015 are listed below: U.S. Large Capitalization (Cap) Equity Securities 22 % U.S. Small Cap and Mid Cap Equity Securities 5 Non-U.S. Equity Securities 20 Fixed Income Securities 25 Hedge Funds and Similar Investments 20 Private Equity and Other 8 100 % The following tables provide the fair value measurement amounts for the Registrants' pension plan assets at December 31, 2015 and 2014 (a): December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In millions) DTE Energy asset category: Short-term Investments (b) $ 23 $ — $ — $ 23 $ 46 $ — $ — $ 46 Equity Securities U.S. Large Cap (c) 842 — — 842 899 — — 899 U.S. Small Cap and Mid Cap (d) 219 — — 219 225 — — 225 Non-U.S. (e) 510 251 — 761 526 219 — 745 Fixed Income Securities (f) 5 1,024 — 1,029 7 1,113 — 1,120 Hedge Funds and Similar Investments (g) 220 96 452 768 226 95 438 759 Private Equity and Other (h) — — 190 190 — — 187 187 Securities Lending (i) (129 ) (25 ) — (154 ) (189 ) (50 ) — (239 ) Securities Lending Collateral (i) 129 25 — 154 189 50 — 239 DTE Energy Total $ 1,819 $ 1,371 $ 642 $ 3,832 $ 1,929 $ 1,427 $ 625 $ 3,981 DTE Electric asset category: Short-term Investments (b) $ 16 $ — $ — $ 16 $ 33 $ — $ — $ 33 Equity Securities U.S. Large Cap (c) 599 — — 599 638 — — 638 U.S. Small Cap and Mid Cap (d) 157 — — 157 162 — — 162 Non-U.S. (e) 367 178 — 545 378 157 — 535 Fixed Income Securities (f) 4 699 — 703 5 758 — 763 Hedge Funds and Similar Investments (g) 158 69 325 552 163 68 315 546 Private Equity and Other (h) — — 137 137 — — 135 135 Securities Lending (i) (93 ) (18 ) — (111 ) (136 ) (36 ) — (172 ) Securities Lending Collateral (i) 93 18 — 111 136 36 — 172 DTE Electric Total $ 1,301 $ 946 $ 462 $ 2,709 $ 1,379 $ 983 $ 450 $ 2,812 _______________________________________ (a) For a description of levels within the fair value hierarchy, see Note 11 to the Consolidated Financial Statements, " Fair Value ". (b) 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. (c) This category comprises both actively and not actively managed portfolios that track the S&P 500 low cost equity index funds. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (d) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (e) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (f) This category includes corporate bonds from diversified industries, U.S. Treasuries, and mortgage-backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as Level 2 assets. (g) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded debt and equity, publicly traded mutual funds, commingled and limited partnership funds, and non-exchange traded securities. Pricing for Level 1 and Level 2 assets in this category is obtained from quoted prices in actively traded markets and quoted prices from broker or pricing services. Non-exchange traded securities held in commingled funds are classified as Level 2 assets. Valuations for some Level 3 assets in this category may be based on limited observable inputs as there may be little, if any, publicly available pricing. (h) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. Pricing for investments in this category is based on limited observable inputs as there is little, if any, publicly available pricing. Valuations for assets in this category may be based on discounted cash flow analyses, relevant publicly-traded comparables, and comparable transactions. (i) In 2014, the Registrants began a securities lending program with a third-party agent. The program allows the agent to lend certain securities from the Registrants' pension trusts to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. The pension trust holds debt and equity securities directly and indirectly through commingled funds and institutional mutual funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The commingled funds and institutional mutual funds hold exchange-traded equity or debt securities and are valued based on stated NAVs. Non-exchange traded fixed income securities are valued by the trustee based upon quotations available from brokers or pricing services. A primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary price source of a given security if the trustee challenges an assigned price and determines that another price source is considered to be preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices. Additionally, the Registrants selectively corroborate the fair values of securities by comparison of market-based price sources. The following table provides a reconciliation of beginning and ending balances of DTE Energy's pension plan assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3): Year Ended December 31, 2015 Year Ended December 31, 2014 Hedge Funds Private Equity Total Hedge Funds Private Equity Total (In millions) Beginning Balance at January 1 $ 438 $ 187 $ 625 $ 395 $ 170 $ 565 Total realized/unrealized gains (losses) 10 10 20 22 16 38 Purchases, sales, and settlements: Purchases 4 32 36 22 31 53 Sales — (39 ) (39 ) (1 ) (30 ) (31 ) Ending Balance at December 31 $ 452 $ 190 $ 642 $ 438 $ 187 $ 625 The amount of total gains for the period attributable to the change in unrealized gains or losses related to assets still held at the end of the period $ 10 $ (3 ) $ 7 $ 21 $ 11 $ 32 The following table provides a reconciliation of beginning and ending balances of DTE Electric's pension plan assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3): Year Ended December 31, 2015 Year Ended December 31, 2014 Hedge Funds Private Equity Total Hedge Funds Private Equity Total (In millions) Beginning Balance at January 1 $ 315 $ 135 $ 450 $ 285 $ 122 407 Total realized/unrealized gains (losses) 7 7 14 15 12 27 Purchases, sales, and settlements: Purchases 3 23 26 16 22 38 Sales — (28 ) (28 ) (1 ) (21 ) (22 ) Ending Balance at December 31 $ 325 $ 137 $ 462 $ 315 $ 135 $ 450 The amount of total gains for the period attributable to the change in unrealized gains or losses related to assets still held at the end of the period $ 7 $ (2 ) $ 5 $ 15 $ 8 $ 23 There were no transfers from or into Level 3 and there were no significant transfers between Level 2 and Level 1 in the years ended December 31, 2015 and 2014 for either of the Registrants. Other Postretirement Benefits The Registrants participate in defined benefit plans sponsored by the LLC that provide certain other postretirement health care and life insurance benefits for employees who are eligible for these benefits. The Registrants' policy is to fund certain trusts to meet its other postretirement benefit obligations. Separate qualified VEBA and other benefit trusts exist. DTE Energy contributed $199 million to these trusts, including $175 million of DTE Electric contributions, for the defined benefit other postretirement medical and life insurance benefit plans during 2015 . At the discretion of management, DTE Energy anticipates making up to $20 million of contributions, through contributions from DTE Gas, to the trusts in 2016 . Starting in 2012, in lieu of offering future employees defined benefit post-employment health care and life insurance 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 (UWUA) for Local 223 employees. DTE Energy contributions to the VEBA for these accounts were $5 million in 2015 , $4 million in 2014 , and $2 million in 2013 , including DTE Electric contributions of $3 million in 2015 , $2 million in 2014 , and $1 million in 2013 . Beginning in 2013, the Registrants replaced the defined benefit employer-sponsored retiree medical, prescription drug, and dental coverage with a notional allocation to a Retiree Reimbursement Account. This change applies to both current and future Medicare eligible non-represented and future represented retirees, spouses, surviving spouses, or same sex domestic partners when the youngest of the retiree's covered household turns age 65 . 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: 2015 2014 2013 (In millions) Service cost $ 34 $ 34 $ 47 Interest cost 81 89 88 Expected return on plan assets (131 ) (122 ) (110 ) Amortization of: Net actuarial loss 43 20 64 Prior service credit (126 ) (144 ) (131 ) Net other postretirement credit $ (99 ) $ (123 ) $ (42 ) 2015 2014 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial (gain) loss $ (68 ) $ 192 Amortization of net actuarial loss (43 ) (20 ) Amortization of prior service credit 126 144 Total recognized in Regulatory assets and Other comprehensive income (loss) $ 15 $ 316 Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (84 ) $ 193 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 $ 32 $ 43 Prior service credit $ (118 ) $ (126 ) Net other postretirement credit for DTE Electric includes the following components: 2015 2014 2013 (In millions) Service cost $ 25 $ 26 $ 35 Interest cost 62 68 67 Expected return on plan assets (90 ) (85 ) (74 ) Amortization of: Net actuarial loss 31 14 47 Prior service credit (95 ) (109 ) (100 ) Net other postretirement credit $ (67 ) $ (86 ) $ (25 ) 2015 2014 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial (gain) loss $ (57 ) $ 144 Amortization of net actuarial loss (31 ) (14 ) Amortization of prior service credit 95 109 Total recognized in Regulatory assets and Other comprehensive income (loss) $ 7 $ 239 Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (60 ) $ 153 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 $ 22 $ 31 Prior service credit $ (89 ) $ (94 ) 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 2015 2014 2015 2014 (In millions) Change in accumulated postretirement benefit obligation Accumulated postretirement benefit obligation, beginning of year $ 2,044 $ 1,878 $ 1,558 $ 1,430 Service cost 34 34 25 26 Interest cost 81 89 62 68 Actuarial (gain) loss (224 ) 131 (166 ) 100 Benefits paid (89 ) (88 ) (65 ) (66 ) Accumulated postretirement benefit obligation, end of year $ 1,846 $ 2,044 $ 1,414 $ 1,558 Change in plan assets Plan assets at fair value, beginning of year $ 1,528 $ 1,527 $ 1,038 $ 1,061 Actual return on plan assets (25 ) 62 (19 ) 41 Company contributions 199 24 175 — Benefits paid (85 ) (85 ) (63 ) (64 ) Plan assets at fair value, end of year $ 1,617 $ 1,528 $ 1,131 $ 1,038 Funded status, end of year $ (229 ) $ (516 ) $ (283 ) $ (520 ) Amount recorded as: Noncurrent assets $ — $ — $ 24 $ — Current liabilities (1 ) (1 ) — — Noncurrent liabilities (228 ) (515 ) (307 ) (520 ) $ (229 ) $ (516 ) $ (283 ) $ (520 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 24 $ 34 $ — $ — Prior service credit (2 ) (5 ) — — $ 22 $ 29 $ — $ — Amounts recognized in Regulatory assets (see Note 8 - "Regulatory Matters") Net actuarial loss $ 387 $ 488 $ 297 $ 385 Prior service credit (131 ) (254 ) (99 ) (194 ) $ 256 $ 234 $ 198 $ 191 At December 31, 2015 , 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) 2016 $ 100 $ 77 2017 105 81 2018 108 84 2019 113 88 2020 116 90 2021-2025 621 476 Total $ 1,163 $ 896 Assumptions used in determining the accumulated postretirement benefit obligation and net other postretirement benefit costs of the Registrants are: 2015 2014 2013 Accumulated postretirement benefit obligation Discount rate 4.50% 4.10% 4.95% Health care trend rate pre- and post- 65 6.25 / 6.75% 7.50 / 6.50% 7.50 / 6.50% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2027 2025 / 2024 2025 / 2024 Other postretirement benefit costs Discount rate (prior to interim remeasurement) 4.10% 4.95% 4.15% Discount rate (post interim remeasurement) N/A N/A 4.30% Expected long-term rate of return on plan assets 8.00% 8.00% 8.25% Health care trend rate pre- and post- 65 7.50 / 6.50% 7.50 / 6.50% 7.00% Ultimate health care trend rate 4.50% 4.50% 5.00% Year in which ultimate reached pre- and post- 65 2025 / 2024 2025 / 2024 2021 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 $6 million , including $4 million for DTE Electric, in 2015 and would have increased the accumulated benefit obligation for DTE Energy by $100 million , including $74 million for DTE Electric, at December 31, 2015 . 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 $5 million , including $4 million for DTE Electric, in 2015 and would have decreased the accumulated benefit obligation for DTE Energy by $86 million , including $64 million for DTE Electric, at December 31, 2015 . The process used in determining the long-term rate of return for assets and the investment approach for the other postretirement benefit plans is similar to those previously described for the pension plans. Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2015 are listed below: U.S. Large Cap Equity Securities 17 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 20 Fixed Income Securities 25 Hedge Funds and Similar Investments 20 Private Equity and Other 14 100 % The following tables provide the fair value measurement amounts for the Registrants' other postretirement benefit plan assets at December 31, 2015 and 2014 (a): December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total DTE Energy asset category: (In millions) Short-term Investments (b) $ 7 $ — $ — $ 7 $ 6 $ — $ — $ 6 Equity Securities U.S. Large Cap (c) 264 — — 264 266 — — 266 U.S. Small Cap and Mid Cap (d) 138 — — 138 149 — — 149 Non-U.S. (e) 262 55 — 317 222 59 — 281 Fixed Income Securities (f) 23 390 — 413 15 360 — 375 Hedge Funds and Similar Investments (g) 109 45 171 325 107 45 168 320 Private Equity and Other (h) — — 153 153 — — 131 131 Securities Lending (i) (122 ) (6 ) — (128 ) (141 ) (17 ) — (158 ) Securities Lending Collateral (i) 122 6 — 128 141 17 — 158 DTE Energy Total $ 803 $ 490 $ 324 $ 1,617 $ 765 $ 464 $ 299 $ 1,528 DTE Electric asset category: Short-term Investments (b) $ 5 $ — $ — $ 5 $ 4 $ — $ — $ 4 Equity Securities U.S. Large Cap (c) 183 — — 183 179 — — 179 U.S. Small Cap and Mid Cap (d) 97 — — 97 102 — — 102 Non-U.S. (e) 184 37 — 221 151 39 — 190 Fixed Income Securities (f) 17 272 — 289 11 243 — 254 Hedge Funds and Similar Investments (g) 76 32 119 227 73 31 114 218 Private Equity and Other (h) — — 109 109 — — 91 91 Securities Lending (i) (87 ) (4 ) — (91 ) (98 ) (11 ) — (109 ) Securities Lending Collateral (i) 87 4 — 91 98 11 — 109 DTE Electric Total $ 562 $ 341 $ 228 $ 1,131 $ 520 $ 313 $ 205 $ 1,038 _______________________________________ (a) For a description of levels within the fair value hierarchy see Note 11 to the Consolidated Financial Statements, " Fair Value ". (b) 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. (c) This category comprises both actively and not actively managed portfolios that track the S&P 500 low cost equity index funds. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (d) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (e) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (f) This category includes corporate bonds from diversified industries, U.S. Treasuries, bank loans, and mortgage backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as Level 2 assets. (g) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded debt and equity, publicly traded mutual funds, commingled and limited partnership funds, and non-exchange traded securities. Pricing for Level 1 and Level 2 assets in this category is obtained from quoted prices in actively traded markets and quoted prices from broker or pricing services. Non-exchange traded securities held in commingled funds are classified as Level 2 assets. Valuations for some Level 3 assets in this category may be based on limited observable inputs as there may be little, if any, publicly available pricing. (h) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. Pricing for investments in this category is based on limited observable inputs as there is little, if any, publicly available pricing. Valuations for assets in this category may be based on discounted cash flow analyses, relevant publicly-traded comparables, and comparable transactions. (i) In 2014, the Registrants began a securities lending program with a third-party agent. The program allows the agent to lend certain securities from the Registrants' VEBA trust to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. The DTE Energy Company Master VEBA Trust holds debt and equity securities directly and indirectly through commingled funds and institutional mutual funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The commingled funds and institutional mutual funds hold exchange-traded equity or debt securities and are valued based on NAVs. Non-exchange traded fixed income securities are valued by the trustee based upon quotations available from brokers or pricing services. A primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary price source of a given security if the trustee challenges an assigned price and determines that another price source is considered to be preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices. Additionally, the Registrants selectively corroborate the fair values of securities by comparison of market-based price sources. The following table provides a reconciliation of beginning and ending balances of DTE Energy's other postretirement benefit plan assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3): Year Ended December 31, 2015 Year Ended December 31, 2014 Hedge Funds Private Total Hedge Funds Private Total (In millions) Beginning Balance at January 1 $ 168 $ 131 $ 299 $ 159 $ 101 $ 260 Total realized/unrealized gains (losses) 4 9 13 8 9 17 Purchases, sales, and settlements: Purchases 11 34 45 9 33 42 Sales (12 ) (21 ) (33 ) (8 ) (12 ) (20 ) Ending Balance at December 31 $ 171 $ 153 $ |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation [Abstract] | |
Stock-based Compensation | STOCK-BASED COMPENSATION DTE Energy’s stock incentive program permits the grant of incentive stock options, non-qualifying stock options, stock awards, performance shares, and performance units to employees and members of its Board of Directors. As a result of a stock award, a settlement of an award of performance shares, or by exercise of a participant’s stock option, DTE Energy may deliver common stock from its authorized but unissued common stock and/or from outstanding common stock acquired by or on behalf of DTE Energy in the name of the participant. Key provisions of the stock incentive program are: • Authorized limit is 14,500,000 shares of common stock; • Prohibits the grant of a stock option with an exercise price that is less than the fair market value of DTE Energy’s stock on the date of the grant; and • Imposes the following award limits to a single participant in a single calendar year, (1) options for more than 500,000 shares of common stock; (2) stock awards for more than 150,000 shares of common stock; (3) performance share awards for more than 300,000 shares of common stock (based on the maximum payout under the award); or (4) more than 1,000,000 performance units, which have a face amount of $1.00 each. DTE Energy records compensation expense at fair value over the vesting period for all awards it grants. The following table summarizes the components of stock-based compensation for DTE Energy: 2015 2014 2013 (In millions) Stock-based compensation expense $ 34 $ 103 $ 99 Tax benefit $ 13 $ 40 $ 38 Stock-based compensation cost capitalized in Property, plant, and equipment $ 5 $ 16 $ 15 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, 2015 : Number of Options Weighted Average Exercise Price Aggregate Intrinsic Options outstanding at December 31, 2014 444,278 $ 43.56 Exercised (178,017 ) $ 45.07 Forfeited or expired (3,979 ) $ 44.72 Options outstanding and exercisable at December 31, 2015 262,282 $ 42.52 $ 10 As of December 31, 2015 , the weighted average remaining contractual life for the exercisable shares is 2.80 years. As of December 31, 2015 , all options were vested. No options vested during 2015 . There were no options granted during 2015 , 2014 , or 2013 . The intrinsic value of options exercised for the years ended December 31, 2015 , 2014 , and 2013 was $7 million , $11 million , and $12 million , respectively. No option expense was recognized for 2015 , 2014 , or 2013 . The number, weighted average exercise price, and weighted average remaining contractual life of DTE Energy options outstanding as of December 31, 2015 were as follows: Range of Exercise Prices Number of Options Weighted Average Weighted Average $ 27.00 — $ 38.00 22,083 $ 27.70 3.16 $ 38.01 — $ 42.00 80,434 $ 41.79 2.16 $ 42.01 — $ 45.00 116,665 $ 43.90 3.79 $ 45.01 — $ 50.00 43,100 $ 47.75 1.15 262,282 $ 42.52 2.80 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: 2015 2014 2013 Fair value of awards vested (in millions) $ 9 $ 11 $ 8 Restricted common shares awarded 144,300 159,590 127,785 Weighted average market price of shares awarded $ 83.43 $ 70.09 $ 64.72 Compensation cost charged against income (in millions) $ 10 $ 10 $ 23 The following table summarizes DTE Energy’s restricted stock awards activity for the year ended December 31, 2015 : Restricted Weighted Average Balance at December 31, 2014 416,318 $ 62.82 Grants 144,300 $ 83.43 Forfeitures (12,721 ) $ 74.78 Vested and issued (165,453 ) $ 55.73 Balance at December 31, 2015 382,444 $ 73.26 Performance Share Awards Performance shares awarded under the plan are for a specified number of shares of DTE Energy common stock that entitle the holder to receive a cash payment, shares of DTE Energy common stock, or a combination thereof. The final value of the award is determined by the achievement of certain performance objectives and market conditions. The awards vest at the end of a specified period, usually three years . Awards granted in 2014 and 2015 were primarily deemed to be equity awards. The DTE Energy stock price and number of probable shares attributable to market conditions for such equity awards are fair valued only at the grant date. Performance shares awarded prior to 2014 are liability awards and are remeasured to fair value at each reporting period. 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: 2015 2014 2013 (In millions) Compensation expense $ 24 $ 93 $ 77 Cash settlements (a) $ 13 $ 11 $ 9 Stock settlements (a) $ 71 $ 61 $ 56 _______________________________________ (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, 2015 : Performance Shares Weighted Average Balance at December 31, 2014 1,554,697 $ 69.32 Grants 467,288 $ 83.85 Forfeitures (47,067 ) $ 76.22 Payouts (532,700 ) $ — Balance at December 31, 2015 1,442,218 $ 75.85 Unrecognized Compensation Costs As of December 31, 2015 , 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 $ 11 1.11 Performance shares 37 0.97 $ 48 1.00 Allocated Stock-Based Compensation DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation. DTE Electric's allocation for 2015 , 2014 , and 2013 for stock-based compensation expense was approximately $21 million , $62 million , and $58 million , respectively. |
Segment and Related Information
Segment and Related Information | 12 Months Ended |
Dec. 31, 2015 | |
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 1.2 million residential, commercial, and industrial customers throughout Michigan and the sale of storage and transportation capacity. Gas Storage and Pipelines consists of natural gas pipeline, gathering, and storage businesses. Power and Industrial Projects is comprised primarily of projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers, produce reduced emissions fuel, and sell electricity from renewable energy projects. Energy Trading consists of energy marketing and trading operations. Corporate and Other includes various holding company activities, holds certain non-utility debt, and 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, 2015 2014 2013 (In millions) Electric $ 36 $ 29 $ 26 Gas 3 6 4 Gas Storage and Pipelines 8 9 3 Power and Industrial Projects 785 794 816 Energy Trading 32 33 43 Corporate and Other 4 3 (24 ) $ 868 $ 874 $ 868 Financial data of DTE Energy's business segments follows: Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2015 Operating Revenues — Utility operations $ 4,901 1,376 — — — — (39 ) $ 6,238 Operating Revenues — Non-utility operations $ — — 243 2,224 2,459 2 (829 ) $ 4,099 Depreciation and amortization $ 637 104 30 78 2 1 — $ 852 Interest income $ — (7 ) (8 ) (8 ) (2 ) (52 ) 64 $ (13 ) Interest expense $ 258 62 24 32 6 132 (64 ) $ 450 Equity in earnings of equity method investees $ 2 6 47 8 — 3 — $ 66 Income Tax Expense (Benefit) $ 290 72 70 (140 ) (15 ) (47 ) — $ 230 Net Income (Loss) Attributable to DTE Energy Company $ 542 132 107 16 (22 ) (48 ) — $ 727 Investment in equity method investees $ 10 9 296 183 — 16 — $ 514 Capital expenditures and acquisitions $ 1,785 273 161 36 6 — — $ 2,261 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 19,539 4,299 1,047 860 590 3,530 (1,128 ) $ 28,737 Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2014 Operating Revenues — Utility operations $ 5,283 1,636 — — — — (35 ) $ 6,884 Operating Revenues — Non-utility operations $ — — 203 2,289 3,762 2 (839 ) $ 5,417 Depreciation and amortization $ 933 99 34 77 1 1 — $ 1,145 Interest income $ (1 ) (7 ) (6 ) (5 ) — (48 ) 57 $ (10 ) Interest expense $ 250 57 22 28 7 122 (57 ) $ 429 Equity in earnings of equity method investees $ 1 7 35 5 — — — $ 48 Income Tax Expense (Benefit) $ 296 78 53 (100 ) 77 (40 ) — $ 364 Net Income (Loss) Attributable to DTE Energy Company $ 528 140 82 90 122 (57 ) — $ 905 Investment in equity method investees $ 8 10 224 184 — 8 — $ 434 Capital expenditures and acquisitions $ 1,561 224 184 77 3 — — $ 2,049 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 18,713 4,247 883 998 755 3,209 (906 ) $ 27,899 Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2013 Operating Revenues — Utility operations $ 5,199 1,474 — — — — (30 ) $ 6,643 Operating Revenues — Non-utility operations $ — — 132 1,950 1,771 3 (838 ) $ 3,018 Depreciation and amortization $ 902 95 23 72 1 1 — $ 1,094 Interest income $ (1 ) (7 ) (7 ) (6 ) — (51 ) 63 $ (9 ) Interest expense $ 268 58 18 27 8 120 (63 ) $ 436 Equity in earnings of equity method investees $ 1 6 44 8 — — — $ 59 Income Tax Expense (Benefit) $ 252 77 45 (45 ) (38 ) (37 ) — $ 254 Net Income (Loss) Attributable to DTE Energy Company $ 484 143 70 66 (58 ) (44 ) — $ 661 Investment in equity method investees $ 9 10 201 189 — 6 — $ 415 Capital expenditures and acquisitions $ 1,325 209 245 93 3 1 — $ 1,876 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 17,508 3,920 823 1,054 624 2,945 (939 ) $ 25,935 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
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: 2015 2014 2013 (In millions) Revenues Energy sales $ 2 $ 2 $ 2 Other services $ 6 $ 5 $ 7 Shared capital assets $ 33 $ 26 $ 23 Costs Fuel and purchased power $ 9 $ 4 $ 4 Other services and interest $ 2 $ (1 ) $ (1 ) Corporate expenses (net) $ 334 $ 304 $ 334 Other Dividends declared $ 395 $ 370 $ 342 Dividends paid $ 395 $ 370 $ 342 Capital contribution from DTE Energy $ 300 $ 190 $ 400 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, 2015 and 2014 . For DTE Electric, there were no charitable contributions to the DTE Energy Foundation for the years ended December 31, 2015 and 2014 , while there were $18 million in contributions for the year ended December 31, 2013 . 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 4 Acquisitions and Exit Activities 18 Retirement Benefits and Trusteed Assets 19 Stock-Based Compensation |
Supplementary Quarterly Financi
Supplementary Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Supplemental 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) 2015 Operating Revenues $ 2,984 $ 2,268 $ 2,598 $ 2,487 $ 10,337 Operating Income $ 461 $ 204 $ 440 $ 134 $ 1,239 Net Income Attributable to DTE Energy Company $ 273 $ 109 $ 265 $ 80 $ 727 Basic Earnings per Share $ 1.53 $ 0.61 $ 1.47 $ 0.45 $ 4.05 Diluted Earnings per Share $ 1.53 $ 0.61 $ 1.47 $ 0.45 $ 4.05 2014 Operating Revenues $ 3,930 $ 2,698 $ 2,595 $ 3,078 $ 12,301 Operating Income $ 560 $ 249 $ 239 $ 542 $ 1,590 Net Income Attributable to DTE Energy Company $ 326 $ 124 $ 156 $ 299 $ 905 Basic Earnings per Share $ 1.84 $ 0.70 $ 0.88 $ 1.68 $ 5.11 Diluted Earnings per Share $ 1.84 $ 0.70 $ 0.88 $ 1.68 $ 5.10 DTE Electric First Second Third Fourth Year (In millions) 2015 Operating Revenues $ 1,203 $ 1,147 $ 1,385 $ 1,165 $ 4,900 Operating Income $ 268 $ 214 $ 400 $ 192 $ 1,074 Net Income $ 137 $ 99 $ 216 $ 92 $ 544 2014 Operating Revenues $ 1,410 $ 1,281 $ 1,357 $ 1,234 $ 5,282 Operating Income $ 271 $ 259 $ 272 $ 250 $ 1,052 Net Income $ 137 $ 130 $ 136 $ 129 $ 532 |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Valuation and Qualifying Accounts | DTE Energy Company Schedule II — Valuation and Qualifying Accounts Year Ending December 31, 2015 2014 2013 (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 $ 54 $ 55 $ 62 Additions: Charged to costs and expenses 93 95 94 Charged to other accounts (a) 14 20 23 Deductions (b) (112 ) (116 ) (124 ) Balance at End of Period $ 49 $ 54 $ 55 _______________________________________ (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, 2015 2014 2013 (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 $ 29 $ 28 $ 35 Additions: Charged to costs and expenses 51 50 52 Charged to other accounts (a) 6 10 11 Deductions (b) (58 ) (59 ) (70 ) Balance at End of Period $ 28 $ 29 $ 28 _______________________________________ (a) Collection of accounts previously written off. (b) Uncollectible accounts written off. |
Significant Accounting Polici32
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
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. Such revisions include amounts reclassified to separate Operating Revenues and Fuel, purchased power, and gas between Utility operations and Non-utility operations and from Operations and maintenance to Fuel, purchased power, and gas — non-utility related to the Power and Industrial Projects segment. The reclassifications did not affect DTE Energy's Net Income for the prior periods, as such, they are not deemed material to the previously issued Consolidated Financial Statements. |
Principles of Consolidation | Principles of Consolidation The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the cost method is used. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions. The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed. Legal entities within DTE Energy's Power and Industrial Projects segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are accounted for under the equity method. DTE Energy 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, 2015 , 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, 2015 , 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. In 2001, DTE Electric financed a regulatory asset related to Fermi 2 and certain other regulatory assets through the sale of rate reduction bonds by a wholly-owned special purpose entity, Securitization. DTE Electric performed servicing activities including billing and collecting surcharge revenue for Securitization. The remaining amounts due on the rate reduction bonds were paid in March 2015. The associated regulatory assets were fully amortized by March 31, 2015. Subsequent to the pay-down of the bonds, Securitization is no longer a VIE but continues to be consolidated by the Registrants as a voting interest entity. The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position. For non-consolidated VIEs, the maximum risk exposure is generally limited to its investment and amounts which it has guaranteed. The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of December 31, 2015 and 2014 . 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. Securitization, included in the DTE Energy table below for December 31, 2014, also relates to DTE Electric. 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. |
Revenues | Revenues The Registrants' revenues from the sale and delivery of electricity, and DTE Energy's revenues from the sale, delivery, and storage of natural gas are recognized as services are provided. DTE Electric and DTE Gas record revenues for electricity and gas provided but unbilled at the end of each month. Rates for DTE Electric and DTE Gas include provisions to adjust billings for fluctuations in fuel and purchased power costs, cost of natural gas, and certain other costs. Revenues are adjusted for differences between actual costs subject to reconciliation and the amounts billed in current rates. Under or over recovered revenues related to these cost recovery mechanisms are included in Regulatory assets or liabilities on the Registrants' Consolidated Statements of Financial Position and are recovered or returned to customers through adjustments to the billing factors. For further discussion of recovery mechanisms authorized by the MPSC, see Note 8 to the Consolidated Financial Statements, " Regulatory Matters ". DTE Energy's non-utility businesses recognize revenues as services are provided and products are delivered. |
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 independent system operators and regional transmission organizations (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 regional transmission organizations. 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 | 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 in excess of 30 days. DTE Energy unbilled revenues of $620 million and $773 million , including $237 million and $250 million of DTE Electric unbilled revenues, are included in Customer Accounts receivable at December 31, 2015 and 2014 , respectively. Notes Receivable Notes receivable, or financing receivables, for DTE Energy are primarily comprised of capital lease receivables and loans and are included in Notes receivable and Other current assets on DTE Energy’s Consolidated Statements of Financial Position. Notes receivable, or financing receivables, for DTE Electric are primarily comprised of loans. Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. The Registrants cease accruing interest (nonaccrual status), consider a note receivable impaired, and establish an allowance for credit loss when it is probable that all principal and interest amounts due will not be collected in accordance with the contractual terms of the note receivable. Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty’s ability to pay. In addition, the Registrants monitor the credit ratings of the counterparties from which they have Notes receivable. |
Inventories | Inventories Inventory related to utility operations is generally valued at average cost. Inventory related to non-utility operations is valued at the lower of cost or market. |
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 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 $16 million of expenses related to Fermi 2 refueling outages were accrued at December 31, 2015 and 2014 , 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 8 to the Consolidated Financial Statements, " Regulatory Matters ". The cost of nuclear fuel is capitalized. The amortization of nuclear fuel is included within Fuel, purchased power, and gas — utility in the DTE Energy Consolidated Statements of Operations, and Fuel and purchased power in the DTE Electric Consolidated Statements of Operations, and is recorded using the units-of-production method. Capitalized software costs are classified as Property, plant, and equipment and the related amortization is included in accumulated depreciation and amortization on the Registrants' Consolidated Financial Statements. The Registrants capitalize the costs associated with computer software developed or obtained for use in their businesses. The Registrants amortize capitalized software costs on a straight-line basis over the expected period of benefit, ranging from 3 to 15 years for DTE Energy and 5 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 discounted 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 | 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 businesses by the Registrants. DTE Energy amortizes contract Intangible assets on a straight-line basis over the expected period of benefit, ranging from 1 to 26 years. |
Income Taxes | Excise and Sales Taxes The Registrants record the billing of excise and sales taxes as a receivable with an offsetting payable to the applicable taxing authority, with no net impact on the Registrants' Consolidated Statements of Operations. Deferred tax assets and liabilities are recognized for the estimated future tax effect of temporary differences between the tax basis of assets or liabilities and the reported amounts in the Consolidated Financial Statements. Consistent with rate making treatment, deferred taxes are offset in the tables below for temporary differences which have related Regulatory assets and liabilities. 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 in Other long-term assets on the Registrant's Consolidated Statements of Financial Position. In accordance with MPSC regulations applicable to DTE Energy’s electric and gas utilities the unamortized discount, premium, and expense related to utility debt redeemed with a refinancing are amortized over the life of the replacement issue. Discount, premium, and expense on early redemptions of debt associated with DTE Energy's non-utility operations are charged to earnings. |
Investments in Debt and Equity Securities | Investments in Debt and Equity Securities The Registrants generally classify investments in debt and equity securities as either trading or available-for-sale and have recorded such investments at market value with unrealized gains or losses included in earnings or in Other comprehensive income or loss, respectively. Changes in the fair value of Fermi 2 nuclear decommissioning investments are recorded as adjustments to Regulatory assets or liabilities, due to a recovery mechanism from customers. The Registrants' equity investments are reviewed for impairment each reporting period. If the assessment indicates that the impairment is other than temporary, a loss is recognized resulting in the equity investment being written down to its estimated fair value. |
Government Grants | Government Grants Grants are recognized when there is reasonable assurance that the grant will be received and that any conditions associated with the grant will be met. When grants are received related to Property, plant, and equipment, the Registrants reduce the cost of the assets on their Consolidated Statements of Financial Position, resulting in lower depreciation expense over the life of the associated asset. Grants received related to expenses are reflected as a reduction of the associated expense in the period in which the expense is incurred. |
DTE Energy Foundation | 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 In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The objectives of this ASU are to improve upon revenue recognition requirements by providing a single comprehensive model to determine the measurement of revenue and timing of recognition. The core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. This ASU also requires expanded qualitative and quantitative disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. In July 2015, the FASB deferred implementation of the revenue standard to be effective for the first interim period within annual reporting periods beginning after December 15, 2017. The standard is to be applied retrospectively and early adoption is permitted in the preceding year. The Registrants are currently assessing the impact of this ASU on their Consolidated Financial Statements. In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis , which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The ASU affects (1) limited partnerships and similar legal entities, (2) evaluating fees paid to a decision maker or a service provider as a variable interest, (3) the effect of fee arrangements on the primary beneficiary determination, (4) the effect of related parties on the primary beneficiary determination, and (5) certain investment funds. It is effective for the Registrants for the first interim period within annual reporting periods beginning after December 15, 2015 and early adoption is permitted. The Registrants are currently assessing the impact of this ASU on their Consolidated Financial Statements. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs . This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This ASU is effective for reporting periods beginning after December 15, 2015 and interim periods therein. It is to be applied retrospectively and early adoption is permitted. Had the Registrants early adopted this ASU it would have decreased assets and liabilities on DTE Energy’s and DTE Electric’s Consolidated Statements of Financial Position by $74 million and $36 million , respectively, at December 31, 2015, and $73 million and $35 million , respectively, at December 31, 2014. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330), Simplifying the Measurement of Inventory . The ASU replaces the current lower of cost or market test with a lower of cost or net realizable value test when cost is determined on a first-in, first-out or average cost basis. The standard is effective for public entities for annual reporting periods beginning after December 15, 2016, and interim periods therein. It is to be applied prospectively and early adoption is permitted. The ASU will not have a significant impact on the Registrants' Consolidated Financial Statements. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes . This ASU requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. This ASU is effective for reporting periods beginning after December 15, 2016, including interim periods therein. It may be applied either prospectively or retrospectively, and early adoption is permitted. The Registrants adopted this ASU at December 31, 2015. The adoption of this ASU impacted DTE Energy’s and DTE Electric’s Consolidated Statements of Financial Position by decreasing assets and liabilities for 2014 by $75 million and $2 million , respectively. |
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 | 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, 2015 and 2014 . 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 institutional mutual funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The institutional mutual funds hold exchange-traded equity or debt securities and are valued based on stated NAVs. Non-exchange-traded fixed income securities are valued 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 determines that another price source is considered to be preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices. Additionally, the Registrants selectively corroborate the fair value of securities by comparison of market-based price sources. Investment policies and procedures are determined by DTE Energy's Trust Investments Department which reports to DTE Energy's Vice President and Treasurer. |
Derivative Assets and Liabilities | Derivative Assets and Liabilities Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy. |
Fair Value Transfer | Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The fair value of financial instruments included in the table below is determined by using quoted market prices when available. When quoted prices are not available, pricing services may be used to determine the fair value with reference to observable interest rate indexes. The Registrants have obtained an understanding of how the fair values are derived. The Registrants also selectively corroborate the fair value of their transactions by comparison of market-based price sources. Discounted cash flow analyses based upon estimated current borrowing rates are also used to determine fair value when quoted market prices are not available. The fair values of notes receivable, excluding capital leases, are generally estimated using discounted cash flow techniques that incorporate market interest rates as well as assumptions about the remaining life of the loans and credit risk. Depending on the information available, other valuation techniques may be used that rely on internal assumptions and models. Valuation policies and procedures for the Registrants are determined by DTE Energy's Treasury Department which reports to DTE Energy's Vice President and Treasurer. |
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. |
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 $7 million at December 31, 2015 and 2014 , 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 $2 million and $5 million at December 31, 2015 and 2014 , 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. Certain contracts that have netting arrangements have not been offset in DTE Energy's Consolidated Statements of Financial Position. The impact of netting these derivative instruments and cash collateral related to such contracts is not material. Only the gross amounts for these derivative instruments are included in the table below. |
Derivatives, Methods of Accounting, Derivatives Not Designated or Qualifying as Hedges | 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 Pre33
Organization and Basis of Presentation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 and 2014 . 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. Securitization, included in the DTE Energy table below for December 31, 2014, also relates to DTE Electric. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below. December 31, 2015 December 31, 2014 Total Securitization Other Total (In millions) ASSETS Cash and cash equivalents $ 14 $ — $ 7 $ 7 Restricted cash 8 96 8 104 Accounts receivable 18 26 15 41 Inventories 82 — 67 67 Property, plant, and equipment, net 66 — 81 81 Securitized regulatory assets — 34 — 34 Other current and long-term assets 4 1 6 7 $ 192 $ 157 $ 184 $ 341 LIABILITIES Accounts payable and accrued current liabilities $ 13 $ 3 $ 8 $ 11 Current portion long-term debt, including capital leases 8 105 10 115 Current regulatory liabilities — 32 — 32 Mortgage bonds, notes, and other 10 — 15 15 Capital lease obligations — — 3 3 Other current and long-term liabilities 6 9 6 15 $ 37 $ 149 $ 42 $ 191 |
Summary of Amounts For Nonconsolidated Variable Interest Entities | Amounts for DTE Energy's non-consolidated VIEs as of December 31, 2015 and 2014 are as follows: December 31, 2015 December 31, 2014 (In millions) Investment in equity method investees $ 136 $ 134 Notes receivable $ 15 $ 15 |
Equity Method Investments | Equity method investees are described below: Investments % Owned Segment 2015 2014 2015 2014 Description (In millions) Significant Equity Method Investees Gas Storage and Pipelines NEXUS Pipeline $ 89 $ 16 50% 50% A proposed 255-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers Vector Pipeline 96 98 40% 40% 348-mile pipeline connecting Chicago, Michigan, and Ontario market centers Millennium Pipeline 111 110 26% 26% 182-mile pipeline serving markets in the Northeast $ 296 $ 224 Other Equity Method Investees Other Segments 218 210 $ 514 $ 434 |
Significant Accounting Polici34
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in DTE Energy's Accumulated other comprehensive income (loss) by component for the years ended December 31, 2015 and 2014 : Changes in Accumulated Other Comprehensive Income (Loss) by Component (a) Net Net Benefit Foreign Total (In millions) Balance, December 31, 2013 $ (4 ) $ (6 ) $ (126 ) $ — $ (136 ) Other comprehensive income (loss) before reclassifications — 1 (25 ) (2 ) (26 ) Amounts reclassified from Accumulated other comprehensive income — — 7 — 7 Net current-period Other comprehensive income (loss) — 1 (18 ) (2 ) (19 ) Balance, December 31, 2014 $ (4 ) $ (5 ) $ (144 ) $ (2 ) $ (155 ) Other comprehensive income (loss) before reclassifications — 1 2 (4 ) (1 ) Amounts reclassified from Accumulated other comprehensive income — — 11 — 11 Net current-period Other comprehensive income (loss) — 1 13 (4 ) 10 Balance, December 31, 2015 $ (4 ) $ (4 ) $ (131 ) $ (6 ) $ (145 ) ______________________________________ (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 18 to the Consolidated Financial Statements " Retirement Benefits and Trusteed Assets "). The following table summarizes the changes in DTE Electric's Accumulated other comprehensive income (loss) by component for the years ended December 31, 2015 and 2014 : Changes in Accumulated Other Comprehensive Income (Loss) by Component (a) Net Unrealized Gain on Investments Benefit Obligations (b) Total (In millions) Balance, December 31, 2013 $ 1 $ (17 ) $ (16 ) Other comprehensive loss before reclassifications — (12 ) (12 ) Amounts reclassified from Accumulated other comprehensive income — 2 2 Net current-period Other comprehensive loss — (10 ) (10 ) Balance, December 31, 2014 $ 1 $ (27 ) $ (26 ) Other comprehensive income before reclassifications 1 — 1 Transfer of amounts from Accumulated other comprehensive income to affiliate — 27 27 Amounts reclassified from Accumulated other comprehensive income — — — Net current-period Other comprehensive income 1 27 28 Balance, December 31, 2015 $ 2 $ — $ 2 ______________________________________ (a) All amounts are net of tax. (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 18 to the Consolidated Financial Statements " Retirement Benefits and Trusteed Assets "). |
Schedule of Finite-Lived Intangible Assets by Major Class | DTE Energy has certain Intangible assets as shown below: December 31, 2015 2014 (In millions) Emission allowances $ 1 $ 1 Renewable energy credits 38 45 Contract intangible assets 117 122 156 168 Less accumulated amortization 62 57 Intangible assets, net 94 111 Less current intangible assets 5 9 $ 89 $ 102 DTE Electric has certain Intangible assets as shown below: December 31, 2015 2014 (In millions) Emission allowances $ 1 $ 1 Renewable energy credits 38 45 39 46 Less current intangible assets 5 9 $ 34 $ 37 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes DTE Energy's estimated contract intangible amortization expense expected to be recognized during each year through 2020 : Estimated amortization expense (In millions) 2016 $ 10 2017 $ 7 2018 $ 7 2019 $ 7 2020 $ 5 |
Acquisitions and Exit Activit35
Acquisitions and Exit Activities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition, Integration, Restructuring and Other Related Costs [Abstract] | |
Restructuring and Related Costs | A summary of the charges in the Consolidated Statements of Operations resulting from DTE Energy's exit activities is shown below: 2015 (In millions) Fuel, purchased power, and gas — non-utility $ 5 Operation and maintenance 10 Asset (gains) losses and impairments, net 96 Total Exit Activity Charges $ 111 |
Property, Plant, and Equipment
Property, Plant, and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
PP&E by Classification, Summary of Depreciation and Amortization | The following is a summary of Property, plant, and equipment by classification as of December 31: 2015 2014 Property, plant, and equipment (In millions) DTE Electric Generation $ 11,767 $ 10,712 Distribution 7,816 7,414 Other 1,808 1,679 Total DTE Electric 21,391 19,805 DTE Gas Distribution 3,124 2,946 Storage 453 448 Transmission and other 890 863 Total DTE Gas 4,467 4,257 Non-utility and other 2,263 2,476 Total DTE Energy 28,121 26,538 Less accumulated depreciation and amortization DTE Electric Generation (4,346 ) (3,863 ) Distribution (2,707 ) (2,822 ) Other (593 ) (531 ) Total DTE Electric (7,646 ) (7,216 ) DTE Gas Distribution (1,163 ) (1,130 ) Storage (147 ) (142 ) Transmission and other (370 ) (363 ) Total DTE Gas (1,680 ) (1,635 ) Non-utility and other (761 ) (867 ) Total DTE Energy (10,087 ) (9,718 ) Net DTE Energy Property, plant, and equipment $ 18,034 $ 16,820 Net DTE Electric Property, plant, and equipment $ 13,745 $ 12,589 The following is a summary of Depreciation and amortization expense for DTE Energy, including DTE Electric: 2015 2014 2013 (In millions) Property, plant, and equipment $ 740 $ 683 $ 630 Regulatory assets and liabilities 150 159 163 Securitized regulatory assets (a) (38 ) 303 301 $ 852 $ 1,145 $ 1,094 The following is a summary of Depreciation and amortization expense for DTE Electric: 2015 2014 2013 (In millions) Property, plant, and equipment $ 545 $ 489 $ 457 Regulatory assets and liabilities 126 135 138 Securitized regulatory assets (a) (38 ) 303 301 $ 633 $ 927 $ 896 _______________________________________ (a) Securitization surcharges ended in December 2014 with remaining over recovery refunded to customers in 2015. Securitization bonds were paid and Securitization regulatory assets amortization was completed in 2015. The $38 million credit represents the final adjustments to close out the Securitization program. |
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, 2015 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, including DTE Electric: Year Ended December 31, 2015 2014 2013 (In millions) Amortization expense of capitalized software $ 98 $ 77 $ 71 Gross carrying value of capitalized software $ 770 $ 668 Accumulated amortization of capitalized software $ 439 $ 335 The following balances for capitalized software relate to DTE Electric: Year Ended December 31, 2015 2014 2013 (In millions) Amortization expense of capitalized software $ 80 $ 71 $ 64 Gross carrying value of capitalized software $ 664 $ 590 Accumulated amortization of capitalized software $ 369 $ 293 |
Schedule of Capital Leased Assets | Property under capital leases for the Registrants is as follows: DTE Energy DTE Electric 2015 2014 2015 2014 (In millions) Gross property under capital leases $ 48 $ 35 $ 22 $ 9 Accumulated amortization of property under capital leases $ 26 $ 27 $ 1 $ 5 |
Jointly-Owned Utility Plant (Ta
Jointly-Owned Utility Plant (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Jointly Owned Utility Plant, Net Ownership Amount [Abstract] | |
Schedule of Jointly-Owned Utility Plants | Ownership information of the two utility plants as of December 31, 2015 was as follows: Belle River Ludington Hydroelectric Pumped Storage In service date 1984-1985 1973 Total plant capacity 1,270 MW 1,955 MW Ownership interest (a) 49% Investment in Property, plant, and equipment (in millions) $ 1,779 $ 443 Accumulated depreciation (in millions) $ 1,053 $ 154 _______________________________________ (a) DTE Electric's ownership interest is 63% in Unit No. 1, 81% of the facilities applicable to Belle River used jointly by the Belle River and St. Clair Power Plants and 75% in common facilities used at Unit No. 2. |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Schedule of Change in Asset Retirement Obligations | A reconciliation of the asset retirement obligations for 2015 follows: DTE Energy DTE Electric (In millions) Asset retirement obligations at December 31, 2014 $ 1,962 $ 1,796 Accretion 119 111 Liabilities incurred 33 33 Revision in estimated cash flows 80 80 Asset retirement obligations at December 31, 2015 $ 2,194 $ 2,020 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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 2015 2014 2015 2014 Assets (In millions) Recoverable pension and other postretirement costs: Pension $ 2,112 $ 2,284 $ 1,592 $ 1,743 Other postretirement costs 256 234 198 191 Asset retirement obligation 565 448 565 448 Recoverable Michigan income taxes 248 267 203 220 Removal costs asset 118 15 118 15 Unamortized loss on reacquired debt 63 67 41 44 Other recoverable income taxes 61 66 61 66 Deferred environmental costs 54 59 — — Transitional Reconciliation Mechanism 43 14 43 14 Cost to achieve Performance Excellence Process 33 54 28 46 Accrued PSCR/GCR revenue 12 61 — 34 Recoverable income taxes related to Securitized regulatory assets — 19 — 19 Other 159 139 137 119 3,724 3,727 2,986 2,959 Less amount included in Current Assets (32 ) (76 ) (17 ) (46 ) $ 3,692 $ 3,651 $ 2,969 $ 2,913 Securitized regulatory assets $ — $ 34 $ — $ 34 |
Schedule of Regulatory Liabilities | DTE Energy DTE Electric 2015 2014 2015 2014 Liabilities (In millions) Removal costs liability $ 291 $ 308 $ — $ — Renewable energy 197 227 197 227 Negative pension offset 46 67 — — Accrued PSCR/GCR refund 37 — 15 — Refundable income taxes 23 33 — — Energy optimization 10 24 — 14 Fermi 2 refueling outage 4 16 4 16 Securitization over recovery — 71 — 71 Refundable revenue decoupling/deferred gain — 63 — 63 Other 2 11 2 4 $ 610 $ 820 $ 218 $ 395 Less amount included in Current Liabilities (41 ) (153 ) (19 ) (150 ) $ 569 $ 667 $ 199 $ 245 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: 2015 2014 2013 DTE Energy (In millions) Income Before Income Taxes $ 950 $ 1,275 $ 922 Income tax expense at 35% statutory rate $ 333 $ 446 $ 323 Production tax credits (122 ) (119 ) (68 ) Investment tax credits (7 ) (6 ) (6 ) Depreciation (4 ) (4 ) (4 ) AFUDC - Equity (8 ) (7 ) (5 ) Employee Stock Ownership Plan dividends (5 ) (4 ) (4 ) Domestic production activities deduction — — (14 ) State and local income taxes, net of federal benefit 35 51 37 Enactment of New York Corporate Income Tax Legislation, net of federal benefit — 8 — Other, net 8 (1 ) (5 ) Income Tax Expense $ 230 $ 364 $ 254 Effective income tax rate 24.2 % 28.5 % 27.5 % 2015 2014 2013 DTE Electric (In millions) Income Before Income Taxes $ 836 $ 830 $ 741 Income tax expense at 35% statutory rate $ 293 $ 291 $ 260 Production tax credits (31 ) (22 ) (15 ) Investment tax credits (5 ) (5 ) (5 ) Depreciation 3 3 3 AFUDC - Equity (7 ) (7 ) (5 ) Employee Stock Ownership Plan dividends (3 ) (3 ) (2 ) Domestic production activities deduction — (2 ) (18 ) State and local income taxes, net of federal benefit 43 43 41 Other, net (1 ) — (5 ) Income Tax Expense $ 292 $ 298 $ 254 Effective income tax rate 34.9 % 35.9 % 34.3 % |
Schedule of Components of Income Tax Expense (Benefit) | Components of the Registrants' Income Tax Expense were as follows: 2015 2014 2013 DTE Energy (In millions) Current income tax expense (benefit) Federal $ (3 ) $ (16 ) $ 74 State and other income tax (4 ) 24 16 Total current income taxes (7 ) 8 90 Deferred income tax expense Federal 178 289 122 State and other income tax 59 67 42 Total deferred income taxes 237 356 164 Total $ 230 $ 364 $ 254 2015 2014 2013 DTE Electric (In millions) Current income tax expense (benefit) Federal $ (26 ) $ (19 ) $ 123 State and other income tax (2 ) 20 23 Total current income taxes (28 ) 1 146 Deferred income tax expense Federal 252 251 68 State and other income tax 68 46 40 Total deferred income taxes 320 297 108 Total $ 292 $ 298 $ 254 |
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 2015 2014 2015 2014 (In millions) Property, plant, and equipment $ (4,211 ) $ (3,832 ) $ (3,468 ) $ (3,152 ) Securitized regulatory assets 5 (2 ) 5 (3 ) Tax credit carry-forwards 465 296 53 — Pension and benefits (301 ) (152 ) (193 ) (43 ) Federal net operating loss carry-forward 177 — 142 — State and local net operating loss carry-forwards 63 39 16 — Investments in equity method investees (82 ) (84 ) — — Other (4 ) 65 (53 ) 12 (3,888 ) (3,670 ) (3,498 ) (3,186 ) Less valuation allowance (35 ) (31 ) — — Long-term deferred income tax liabilities $ (3,923 ) $ (3,701 ) $ (3,498 ) $ (3,186 ) Deferred income tax assets $ 1,088 $ 861 $ 453 $ 357 Deferred income tax liabilities (5,011 ) (4,562 ) (3,951 ) (3,543 ) $ (3,923 ) $ (3,701 ) $ (3,498 ) $ (3,186 ) |
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: 2015 2014 2013 DTE Energy (In millions) Balance at January 1 $ 9 $ 10 $ 11 Lapse of statute of limitations (6 ) (1 ) (1 ) Balance at December 31 $ 3 $ 9 $ 10 2015 2014 2013 DTE Electric (In millions) Balance at January 1 $ 4 $ 4 $ 4 Balance at December 31 $ 4 $ 4 $ 4 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | A reconciliation of both calculations is presented in the following table as of December 31: 2015 2014 2013 (In millions, expect per share amounts) Basic Earnings per Share Net Income Attributable to DTE Energy Company $ 727 $ 905 $ 661 Average number of common shares outstanding 179 177 175 Weighted average net restricted shares outstanding — — 1 Dividends declared — common shares $ 508 $ 475 $ 453 Dividends declared — net restricted shares 2 1 1 Total distributed earnings $ 510 $ 476 $ 454 Net Income less distributed earnings $ 217 $ 429 $ 207 Distributed (dividends per common share) $ 2.84 $ 2.69 $ 2.59 Undistributed 1.21 2.42 1.17 Total Basic Earnings per Common Share $ 4.05 $ 5.11 $ 3.76 Diluted Earnings per Share Net Income Attributable to DTE Energy Company $ 727 $ 905 $ 661 Average number of common shares outstanding 179 177 175 Weighted average net restricted shares outstanding — — 1 Dividends declared — common shares $ 508 $ 475 $ 453 Dividends declared — net restricted shares 2 1 1 Total distributed earnings $ 510 $ 476 $ 454 Net Income less distributed earnings $ 217 $ 429 $ 207 Distributed (dividends per common share) $ 2.84 $ 2.69 $ 2.59 Undistributed 1.21 2.41 1.17 Total Diluted Earnings per Common Share $ 4.05 $ 5.10 $ 3.76 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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 as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Netting (a) Net Balance Level 1 Level 2 Level 3 Netting (a) Net Balance (In millions) Assets: Cash equivalents (b) $ 13 $ 3 $ — $ — $ 16 $ 13 $ 99 $ — $ — $ 112 Nuclear decommissioning trusts 759 477 — — 1,236 792 449 — — 1,241 Other investments (c) 149 — — — 149 100 50 — — 150 Derivative assets: Commodity Contracts: Natural Gas 193 91 103 (285 ) 102 555 140 92 (681 ) 106 Electricity — 239 68 (232 ) 75 — 295 47 (280 ) 62 Other 2 — 3 (2 ) 3 42 — 3 (42 ) 3 Other derivative contracts (d) — 12 — (9 ) 3 — 4 — (3 ) 1 Total derivative assets 195 342 174 (528 ) 183 597 439 142 (1,006 ) 172 Total $ 1,116 $ 822 $ 174 $ (528 ) $ 1,584 $ 1,502 $ 1,037 $ 142 $ (1,006 ) $ 1,675 Liabilities: Derivative liabilities: Commodity Contracts: Natural Gas $ (218 ) $ (57 ) $ (108 ) $ 294 $ (89 ) $ (578 ) $ (78 ) $ (62 ) $ 679 $ (39 ) Electricity — (243 ) (62 ) 253 (52 ) — (290 ) (52 ) 298 (44 ) Other (2 ) — (8 ) 8 (2 ) (32 ) (9 ) (4 ) 45 — Other derivative contracts (d) — (7 ) — 7 — — (5 ) — 3 (2 ) Total derivative liabilities (220 ) (307 ) (178 ) 562 (143 ) (610 ) (382 ) (118 ) 1,025 (85 ) Total $ (220 ) $ (307 ) $ (178 ) $ 562 $ (143 ) $ (610 ) $ (382 ) $ (118 ) $ 1,025 $ (85 ) Net Assets (Liabilities) at the end of the period $ 896 $ 515 $ (4 ) $ 34 $ 1,441 $ 892 $ 655 $ 24 $ 19 $ 1,590 Assets: Current $ 174 $ 284 $ 128 $ (441 ) $ 145 $ 582 $ 504 $ 109 $ (955 ) $ 240 Noncurrent (e) 942 538 46 (87 ) 1,439 920 533 33 (51 ) 1,435 Total Assets $ 1,116 $ 822 $ 174 $ (528 ) $ 1,584 $ 1,502 $ 1,037 $ 142 $ (1,006 ) $ 1,675 Liabilities: Current $ (174 ) $ (260 ) $ (87 ) $ 464 $ (57 ) $ (572 ) $ (357 ) $ (112 ) $ 964 $ (77 ) Noncurrent (46 ) (47 ) (91 ) 98 (86 ) (38 ) (25 ) (6 ) 61 (8 ) Total Liabilities $ (220 ) $ (307 ) $ (178 ) $ 562 $ (143 ) $ (610 ) $ (382 ) $ (118 ) $ 1,025 $ (85 ) Net Assets (Liabilities) at the end of the period $ 896 $ 515 $ (4 ) $ 34 $ 1,441 $ 892 $ 655 $ 24 $ 19 $ 1,590 _______________________________________ (a) 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. (b) At December 31, 2015 , available-for-sale securities of $16 million included $8 million and $8 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2014 , available-for-sale securities of $112 million , included $105 million and $7 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. (c) Excludes cash surrender value of life insurance investments. (d) Primarily includes foreign currency exchange contracts. (e) Includes $149 million and $150 million at December 31, 2015 and 2014 , respectively, of other investments that are included in DTE Energy's Consolidated Statements of Financial Position in Other investments. The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Net Balance Level 1 Level 2 Level 3 Net Balance (In millions) Assets: Cash equivalents (a) $ 5 $ 3 $ — $ 8 $ 5 $ 99 $ — $ 104 Nuclear decommissioning trusts 759 477 — 1,236 792 449 — 1,241 Other investments 8 — — 8 97 50 — 147 Derivative assets — FTRs — — 3 3 — — 3 3 Total $ 772 $ 480 $ 3 $ 1,255 $ 894 $ 598 $ 3 $ 1,495 Assets: Current $ 5 $ 3 $ 3 $ 11 $ 5 $ 99 $ 3 $ 107 Noncurrent 767 477 — 1,244 889 499 — 1,388 Total Assets $ 772 $ 480 $ 3 $ 1,255 $ 894 $ 598 $ 3 $ 1,495 _______________________________________ (a) At December 31, 2015 , available-for-sale securities of $8 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2014 , available-for-sale securities of $104 million included $96 million and $8 million of cash equivalents included in Restricted cash and Other investments, respectively, on DTE Electric's Consolidated Statements of Financial Position. |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis Level 3 Roll Forward | The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy for the years ended December 31, 2015 and 2014 : Year Ended December 31, 2015 Year Ended December 31, 2014 Natural Gas Electricity Other Total Natural Gas Electricity Other Total (In millions) Net Assets (Liabilities) as of December 31 $ 30 $ (5 ) $ (1 ) $ 24 $ (52 ) $ 13 $ 3 $ (36 ) Transfers into Level 3 from Level 2 — — — — — — — — Transfers from Level 3 into Level 2 — — — — (2 ) — — (2 ) Total gains (losses): Included in earnings (44 ) 44 (8 ) (8 ) (40 ) 25 (5 ) (20 ) Recorded in Regulatory assets/liabilities — — 12 12 — — 8 8 Purchases, issuances, and settlements: Purchases — 2 — 2 — 1 — 1 Issuances — — — — — (3 ) — (3 ) Settlements 9 (35 ) (8 ) (34 ) 124 (41 ) (7 ) 76 Net Assets (Liabilities) as of December 31 $ (5 ) $ 6 $ (5 ) $ (4 ) $ 30 $ (5 ) $ (1 ) $ 24 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, 2015 and 2014 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations $ (135 ) $ 13 $ (7 ) $ (129 ) $ 35 $ 9 $ (4 ) $ 40 The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric for the years ended December 31, 2015 and 2014 : Year Ended December 31, 2015 2014 (In millions) Net Assets as of December 31 $ 3 $ 3 Change in fair value recorded in Regulatory assets/liabilities 12 8 Purchases, issuances, and settlements: Settlements (12 ) (8 ) Net Assets as of December 31 $ 3 $ 3 The amount of total gains (losses) included in Regulatory assets and liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2015 and 2014 and reflected in DTE Electric's Consolidated Statements of Financial Position $ 3 $ 3 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities as of December 31, 2015 and 2014 : December 31, 2015 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 103 $ (108 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (1.50 ) — $ 2.77 /MMBtu $ (0.19 )/MMBtu Electricity $ 68 $ (62 ) Discounted Cash Flow Forward basis price (per MWh) $ (11 ) — $ 14 /MWh $ 2 /MWh December 31, 2014 Commodity Contracts Derivative Assets Derivative Liabilities Valuation Techniques Unobservable Input Range Weighted Average (In millions) Natural Gas $ 92 $ (62 ) Discounted Cash Flow Forward basis price (per MMBtu) $ (2.28 ) — $ 7.83 /MMBtu $ (0.22 )/MMBtu Electricity $ 47 $ (52 ) Discounted Cash Flow Forward basis price (per MWh) $ (14 ) — $ 15 /MWh $ 4 /MWh |
Fair Value of Financial Instruments | The following table presents the carrying amount and fair value of financial instruments for DTE Energy as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 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 $ 32 $ — $ — $ 32 $ 41 $ — $ — $ 41 Dividends payable $ 131 $ 131 $ — $ — $ 122 $ 122 $ — $ — Short-term borrowings $ 499 $ — $ 499 $ — $ 398 $ — $ 398 $ — Long-term debt, excluding capital leases $ 9,285 $ 496 $ 8,136 $ 1,203 $ 8,606 $ 489 $ 8,308 $ 706 The following table presents the carrying amount and fair value of financial instruments for DTE Electric as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 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 $ 5 $ — $ — $ 5 $ 12 $ — $ — $ 12 Notes receivable — affiliates $ — $ — $ — $ — $ 8 $ — $ — $ 8 Short-term borrowings — affiliates $ 75 $ — $ — $ 75 $ 84 $ — $ — $ 84 Short-term borrowings — other $ 272 $ — $ 272 $ — 50 $ — $ 50 $ — Long-term debt, excluding capital leases $ 5,624 $ — $ 5,432 $ 545 $ 5,259 $ — $ 5,341 $ 496 |
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, 2015 December 31, 2014 (In millions) Fermi 2 $ 1,211 $ 1,221 Fermi 1 3 3 Low-level radioactive waste 22 17 Total $ 1,236 $ 1,241 |
Schedule of Realized Gain (Loss) for Nuclear Decomissioning Trust Funds | The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds: Year Ended December 31, 2015 2014 2013 (In millions) Realized gains $ 39 $ 54 $ 83 Realized losses $ (33 ) $ (33 ) $ (41 ) Proceeds from sales of securities $ 885 $ 1,146 $ 1,118 |
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, 2015 December 31, 2014 Fair Unrealized Unrealized Losses Fair Unrealized Unrealized Losses (In millions) Equity securities $ 731 $ 195 $ (68 ) $ 756 $ 204 $ (39 ) Debt securities 499 16 (4 ) 474 21 (2 ) Cash and cash equivalents 6 — — 11 — — $ 1,236 $ 211 $ (72 ) $ 1,241 $ 225 $ (41 ) |
Financial and Other Derivativ43
Financial and Other Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | The following table presents the fair value of derivative instruments as of December 31, 2015 and 2014 for DTE Energy: December 31, 2015 December 31, 2014 Derivative Derivative Derivative Derivative (In millions) Derivatives not designated as hedging instruments: Foreign currency exchange contracts $ 12 $ (7 ) $ 4 $ (5 ) Commodity Contracts: Natural Gas 387 (383 ) 787 (718 ) Electricity 307 (305 ) 342 (342 ) Other 5 (10 ) 45 (45 ) Total derivatives not designated as hedging instruments: $ 711 $ (705 ) $ 1,178 $ (1,110 ) Current $ 570 $ (521 ) $ 1,083 $ (1,041 ) Noncurrent 141 (184 ) 95 (69 ) Total derivatives $ 711 $ (705 ) $ 1,178 $ (1,110 ) The following table presents the fair value of derivative instruments as of December 31, 2015 and 2014 for DTE Electric: December 31, 2015 2014 (In millions) FTRs — Other current assets $ 3 $ 3 Total derivatives not designated as hedging instrument $ 3 $ 3 |
Netting Offsets of Derivative Assets and Liabilities | The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 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 $ 387 $ (285 ) $ 102 $ 787 $ (681 ) $ 106 Electricity 307 (232 ) 75 342 (280 ) 62 Other 5 (2 ) 3 45 (42 ) 3 Other derivative contracts (a) 12 (9 ) 3 4 (3 ) 1 Total derivative assets $ 711 $ (528 ) $ 183 $ 1,178 $ (1,006 ) $ 172 Derivative liabilities: Commodity Contracts: Natural Gas $ (383 ) $ 294 $ (89 ) $ (718 ) $ 679 $ (39 ) Electricity (305 ) 253 (52 ) (342 ) 298 (44 ) Other (10 ) 8 (2 ) (45 ) 45 — Other derivative contracts (a) (7 ) 7 — (5 ) 3 (2 ) Total derivative liabilities $ (705 ) $ 562 $ (143 ) $ (1,110 ) $ 1,025 $ (85 ) _______________________________________ (a) Primarily includes foreign currency exchange contracts |
Netting Offsets of Derivative Assets and Liabilities Reconciliation to the Statements of Financial Position | The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position at December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Current Noncurrent Current Noncurrent Current Noncurrent Current Noncurrent (In millions) Total fair value of derivatives $ 570 $ 141 $ (521 ) $ (184 ) $ 1,083 $ 95 $ (1,041 ) $ (69 ) Counterparty netting (441 ) (85 ) 441 85 (955 ) (51 ) 955 51 Collateral adjustment — (2 ) 23 13 — — 9 10 Total derivatives as reported $ 129 $ 54 $ (57 ) $ (86 ) $ 128 $ 44 $ (77 ) $ (8 ) |
Gain (Loss) Recognized in Income on Derivatives | The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations for years ended December 31, 2015 and 2014 is as follows: Location of Gain Gain (Loss) Recognized in Derivatives not Designated as Hedging Instruments 2015 2014 (In millions) Foreign currency exchange contracts Operating Revenues — Non-utility operations $ 3 $ (2 ) Commodity Contracts: Natural Gas Operating Revenues — Non-utility operations (34 ) (30 ) Natural Gas Fuel, purchased power, and gas — non-utility (44 ) (5 ) Electricity Operating Revenues — Non-utility operations 54 123 Other Operating Revenues — Non-utility operations (7 ) (7 ) Total $ (28 ) $ 79 |
Volume of Commodity Contracts | The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of December 31, 2015 : Commodity Number of Units Natural Gas (MMBtu) 1,740,824,930 Electricity (MWh) 27,668,865 Oil (Gallons) 21,756,000 Foreign Currency Exchange (Canadian dollars) 72,328,008 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Long-term Debt, Unclassified [Abstract] | |
Schedule of Long-term Debt Instruments | DTE Energy's long-term debt outstanding and weighted average interest rates (a) of debt outstanding at December 31 were: 2015 2014 (In millions) Mortgage bonds, notes, and other DTE Energy Debt, Unsecured 4.4% due 2016 to 2033 $ 1,947 $ 1,647 DTE Electric Taxable Debt, Principally Secured 4.4% due 2016 to 2045 5,314 4,824 DTE Electric Tax-Exempt Revenue Bonds (b) 5.2% due 2020 to 2030 310 330 DTE Gas Taxable Debt, Principally Secured 4.9% due 2018 to 2045 1,124 1,099 Other Long-Term Debt, Including Non-Recourse Debt 110 121 DTE Energy Total Long-Term Debt 8,805 8,021 Less amount due within one year for DTE Energy (465 ) (161 ) $ 8,340 $ 7,860 DTE Electric Securitization Bonds 6.6% due 2015 $ — $ 105 Less amount due within one year — (105 ) $ — $ — DTE Energy Junior Subordinated Debentures 6.5% due 2061 $ 280 $ 280 5.25% due 2062 200 200 $ 480 $ 480 DTE Electric's long-term debt outstanding and weighted average interest rates (a) of debt outstanding at December 31 were: 2015 2014 (In millions) Mortgage bonds, notes, and other DTE Electric Taxable Debt, Principally Secured 4.4% due 2016 to 2045 $ 5,314 $ 4,824 DTE Electric Tax-Exempt Revenue Bonds (b) 5.2% due 2020 to 2030 310 330 DTE Electric Total Long-Term Debt 5,624 5,154 Less amount due within one year for DTE Electric (151 ) (10 ) $ 5,473 $ 5,144 DTE Electric Securitization Bonds 6.6% due 2015 $ — $ 105 Less amount due within one year — (105 ) $ — $ — _______________________________________ (a) Weighted average interest rates as of December 31, 2015 are shown below the description of each category of debt. (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. |
Schedule of Issued Debt | In 2015 , the following debt was issued: Company Month Type Interest Rate Maturity Amount (In millions) DTE Electric March Mortgage Bonds (a) 3.70% 2045 $ 500 DTE Energy June Senior Notes (b) 3.30% 2022 300 DTE Gas August Mortgage Bonds (c) 3.35% 2027 40 DTE Gas August Mortgage Bonds (c) 4.21% 2045 125 $ 965 _______________________________________ (a) Proceeds were used for the redemption of long-term debt, repayment of short-term borrowings, and general corporate purposes. (b) Proceeds were used for general corporate purposes. (c) Proceeds were used for the redemption of long-term debt and general corporate purposes. |
Schedule of Extinguishment of Debt | In 2015 , the following debt was redeemed: Company Month Type Interest Rate Maturity Amount (In millions) DTE Electric March Securitization Bonds 6.62% 2015 $ 105 DTE Electric March Mortgage Bonds 7.904% 2016 10 DTE Gas September Senior Notes 5.94% 2015 140 DTE Electric December Tax-Exempt Revenue Bonds 5.00% 2015 20 DTE Energy Various Other Long-Term Debt Various 2015 11 $ 286 |
Schedule of Maturities of Long-term Debt | The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount or premium on debt: 2016 2017 2018 2019 2020 2021 and Thereafter Total (In millions) DTE Energy (a) $ 465 $ 9 $ 407 $ 427 $ 688 $ 7,304 $ 9,300 DTE Electric $ 151 $ — $ 300 $ — $ 632 $ 4,552 $ 5,635 _______________________________________ (a) Amounts include DTE Electric's scheduled debt maturities. |
Preferred and Preference Secu45
Preferred and Preference Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |
Schedule of Preferred and Preference Securities | As of December 31, 2015 , 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 Arrangement46
Short-Term Credit Arrangements and Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Short-term Debt [Abstract] | |
Schedule of Line of Credit Facilities | The availability under the facilities in place at December 31, 2015 is shown in the following table: DTE Energy DTE Electric DTE Gas Total (In millions) Unsecured letter of credit facility, expiring in February 2017 $ 100 $ — $ — $ 100 Unsecured letter of credit facility, expiring in September 2017 70 — — 70 Unsecured revolving credit facility, expiring April 2020 1,200 400 300 1,900 1,370 400 300 2,070 Amounts outstanding at December 31, 2015 Commercial paper issuances 33 272 194 499 Letters of credit 130 — — 130 163 272 194 629 Net availability at December 31, 2015 $ 1,207 $ 128 $ 106 $ 1,441 |
Capital and Operating Leases (T
Capital and Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Leases [Abstract] | |
Schedule of Future Minimum Lease Payments for Operating Leases | The Registrants' future minimum lease payments under non-cancelable leases at December 31, 2015 were: DTE Energy DTE Electric Operating Operating (In millions) 2016 $ 37 $ 24 2017 30 18 2018 25 15 2019 21 14 2020 13 10 Thereafter 71 35 Total minimum lease payments $ 197 $ 116 |
Schedule of Future Minimum Lease Receivables for Capital Leases | The components of DTE Energy's net investment in capital leases at December 31, 2015 , were as follows: DTE Energy Capital Leases (In millions) 2016 $ 13 2017 13 2018 13 2019 10 2020 9 Thereafter — Total minimum future lease receipts 58 Residual value of leased pipeline 40 Less unearned income (27 ) Net investment in capital lease 71 Less current portion (6 ) $ 65 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Long-term Purchase Commitments | The Registrants estimate the following commitments from 2016 through 2051 for DTE Energy, and 2016 through 2033 for DTE Electric, as detailed in the following table: DTE Energy DTE Electric (In millions) 2016 $ 2,038 $ 493 2017 1,160 412 2018 611 240 2019 397 120 2020 353 88 2021 and thereafter 3,043 992 $ 7,602 $ 2,345 |
Retirement Benefits and Trust49
Retirement Benefits and Trusteed Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Defined Benefit Plans Disclosures | DTE Energy contributed the following amounts of DTE Energy common stock to the DTE Energy Company Master VEBA Trust for funding its other postretirement benefit plans: Date Number of Shares Price per Share Amount (In millions) February 17, 2015 1,427,835 $81.91 $ 117 $ 117 |
Pension Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Net Benefit Costs | Net pension cost for DTE Energy includes the following components: 2015 2014 2013 (In millions) Service cost $ 100 $ 83 $ 94 Interest cost 210 212 192 Expected return on plan assets (296 ) (273 ) (266 ) Amortization of net actuarial loss 205 157 208 Special termination benefits 2 — — Net pension cost $ 221 $ 179 $ 228 Net pension cost for DTE Electric includes the following components: 2015 2014 2013 (In millions) Service cost $ 77 $ 64 $ 73 Interest cost 160 162 146 Expected return on plan assets (210 ) (194 ) (184 ) Amortization of: Net actuarial loss 147 110 148 Prior service cost 1 2 1 Special termination benefits 1 — — Net pension cost $ 176 $ 144 $ 184 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | 2015 2014 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial loss $ 19 $ 805 Amortization of net actuarial loss (205 ) (157 ) Prior service credit — (7 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (186 ) $ 641 Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 35 $ 820 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 $ 162 $ 206 2015 2014 (In millions) Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial (gain) loss $ (13 ) $ 614 Amortization of net actuarial loss (147 ) (110 ) Prior service credit — (2 ) Amortization of prior service cost (1 ) (2 ) Total recognized in Regulatory assets and Other comprehensive income (loss) $ (161 ) $ 500 Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) $ 15 $ 644 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 $ 115 $ 149 Prior service cost $ 1 $ 1 |
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 the Registrants' Consolidated Statements of Financial Position at December 31: DTE Energy DTE Electric 2015 2014 2015 2014 (In millions) Accumulated benefit obligation, end of year $ 4,569 $ 4,853 $ 3,401 $ 3,712 Change in projected benefit obligation Projected benefit obligation, beginning of year $ 5,269 $ 4,380 $ 4,018 $ 3,341 Service cost 100 83 75 64 Interest cost 210 212 156 162 Plan amendments — (7 ) — (2 ) Actuarial (gain) loss (357 ) 836 (273 ) 634 Transfer due to plan sponsorship change — — (99 ) — Special termination benefits 2 — — — Benefits paid (253 ) (235 ) (192 ) (181 ) Projected benefit obligation, end of year $ 4,971 $ 5,269 $ 3,685 $ 4,018 Change in plan assets Plan assets at fair value, beginning of year $ 3,981 $ 3,720 $ 2,812 $ 2,632 Actual return on plan assets (79 ) 301 (56 ) 212 Company contributions 183 195 145 149 Benefits paid (253 ) (235 ) (192 ) (181 ) Plan assets at fair value, end of year $ 3,832 $ 3,981 $ 2,709 $ 2,812 Funded status of the plans $ (1,139 ) $ (1,288 ) $ (976 ) $ (1,206 ) Amount recorded as: Current liabilities $ (6 ) $ (8 ) $ — $ (6 ) Noncurrent liabilities (1,133 ) (1,280 ) (976 ) (1,200 ) $ (1,139 ) $ (1,288 ) $ (976 ) $ (1,206 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 180 $ 194 $ — $ 44 Prior service credit (1 ) (1 ) — — $ 179 $ 193 $ — $ 44 Amounts recognized in Regulatory assets (see Note 8 - "Regulatory Matters") Net actuarial loss $ 2,113 $ 2,285 $ 1,588 $ 1,738 Prior service cost (credit) (1 ) (1 ) 4 5 $ 2,112 $ 2,284 $ 1,592 $ 1,743 |
Schedule of Expected Benefit Payments | At December 31, 2015 , the benefits related to the Registrants' 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: DTE Energy DTE Electric (In millions) 2016 $ 274 $ 213 2017 285 221 2018 297 231 2019 306 238 2020 314 244 2021-2025 1,662 1,279 Total $ 3,138 $ 2,426 |
Schedule of Assumptions Used | Assumptions used in determining the projected benefit obligation and net pension costs of the Registrants are: 2015 2014 2013 Projected benefit obligation Discount rate 4.50% 4.12% 4.95% Rate of compensation increase 4.65% 4.65% 4.20% Net pension costs Discount rate 4.12% 4.95% 4.15% Rate of compensation increase 4.65% 4.20% 4.20% Expected long-term rate of return on plan assets 7.75% 7.75% 8.25% |
Schedule of Allocation of Plan Assets | Target allocations for the Registrants' pension plan assets as of December 31, 2015 are listed below: U.S. Large Capitalization (Cap) Equity Securities 22 % U.S. Small Cap and Mid Cap Equity Securities 5 Non-U.S. Equity Securities 20 Fixed Income Securities 25 Hedge Funds and Similar Investments 20 Private Equity and Other 8 100 % The following tables provide the fair value measurement amounts for the Registrants' pension plan assets at December 31, 2015 and 2014 (a): December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In millions) DTE Energy asset category: Short-term Investments (b) $ 23 $ — $ — $ 23 $ 46 $ — $ — $ 46 Equity Securities U.S. Large Cap (c) 842 — — 842 899 — — 899 U.S. Small Cap and Mid Cap (d) 219 — — 219 225 — — 225 Non-U.S. (e) 510 251 — 761 526 219 — 745 Fixed Income Securities (f) 5 1,024 — 1,029 7 1,113 — 1,120 Hedge Funds and Similar Investments (g) 220 96 452 768 226 95 438 759 Private Equity and Other (h) — — 190 190 — — 187 187 Securities Lending (i) (129 ) (25 ) — (154 ) (189 ) (50 ) — (239 ) Securities Lending Collateral (i) 129 25 — 154 189 50 — 239 DTE Energy Total $ 1,819 $ 1,371 $ 642 $ 3,832 $ 1,929 $ 1,427 $ 625 $ 3,981 DTE Electric asset category: Short-term Investments (b) $ 16 $ — $ — $ 16 $ 33 $ — $ — $ 33 Equity Securities U.S. Large Cap (c) 599 — — 599 638 — — 638 U.S. Small Cap and Mid Cap (d) 157 — — 157 162 — — 162 Non-U.S. (e) 367 178 — 545 378 157 — 535 Fixed Income Securities (f) 4 699 — 703 5 758 — 763 Hedge Funds and Similar Investments (g) 158 69 325 552 163 68 315 546 Private Equity and Other (h) — — 137 137 — — 135 135 Securities Lending (i) (93 ) (18 ) — (111 ) (136 ) (36 ) — (172 ) Securities Lending Collateral (i) 93 18 — 111 136 36 — 172 DTE Electric Total $ 1,301 $ 946 $ 462 $ 2,709 $ 1,379 $ 983 $ 450 $ 2,812 _______________________________________ (a) For a description of levels within the fair value hierarchy, see Note 11 to the Consolidated Financial Statements, " Fair Value ". (b) 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. (c) This category comprises both actively and not actively managed portfolios that track the S&P 500 low cost equity index funds. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (d) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (e) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (f) This category includes corporate bonds from diversified industries, U.S. Treasuries, and mortgage-backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as Level 2 assets. (g) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded debt and equity, publicly traded mutual funds, commingled and limited partnership funds, and non-exchange traded securities. Pricing for Level 1 and Level 2 assets in this category is obtained from quoted prices in actively traded markets and quoted prices from broker or pricing services. Non-exchange traded securities held in commingled funds are classified as Level 2 assets. Valuations for some Level 3 assets in this category may be based on limited observable inputs as there may be little, if any, publicly available pricing. (h) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. Pricing for investments in this category is based on limited observable inputs as there is little, if any, publicly available pricing. Valuations for assets in this category may be based on discounted cash flow analyses, relevant publicly-traded comparables, and comparable transactions. (i) In 2014, the Registrants began a securities lending program with a third-party agent. The program allows the agent to lend certain securities from the Registrants' pension trusts to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The following table provides a reconciliation of beginning and ending balances of DTE Energy's pension plan assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3): Year Ended December 31, 2015 Year Ended December 31, 2014 Hedge Funds Private Equity Total Hedge Funds Private Equity Total (In millions) Beginning Balance at January 1 $ 438 $ 187 $ 625 $ 395 $ 170 $ 565 Total realized/unrealized gains (losses) 10 10 20 22 16 38 Purchases, sales, and settlements: Purchases 4 32 36 22 31 53 Sales — (39 ) (39 ) (1 ) (30 ) (31 ) Ending Balance at December 31 $ 452 $ 190 $ 642 $ 438 $ 187 $ 625 The amount of total gains for the period attributable to the change in unrealized gains or losses related to assets still held at the end of the period $ 10 $ (3 ) $ 7 $ 21 $ 11 $ 32 The following table provides a reconciliation of beginning and ending balances of DTE Electric's pension plan assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3): Year Ended December 31, 2015 Year Ended December 31, 2014 Hedge Funds Private Equity Total Hedge Funds Private Equity Total (In millions) Beginning Balance at January 1 $ 315 $ 135 $ 450 $ 285 $ 122 407 Total realized/unrealized gains (losses) 7 7 14 15 12 27 Purchases, sales, and settlements: Purchases 3 23 26 16 22 38 Sales — (28 ) (28 ) (1 ) (21 ) (22 ) Ending Balance at December 31 $ 325 $ 137 $ 462 $ 315 $ 135 $ 450 The amount of total gains for the period attributable to the change in unrealized gains or losses related to assets still held at the end of the period $ 7 $ (2 ) $ 5 $ 15 $ 8 $ 23 |
Other Postretirement Benefit Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Net Benefit Costs | Net other postretirement credit for DTE Electric includes the following components: 2015 2014 2013 (In millions) Service cost $ 25 $ 26 $ 35 Interest cost 62 68 67 Expected return on plan assets (90 ) (85 ) (74 ) Amortization of: Net actuarial loss 31 14 47 Prior service credit (95 ) (109 ) (100 ) Net other postretirement credit $ (67 ) $ (86 ) $ (25 ) Net other postretirement credit for DTE Energy includes the following components: 2015 2014 2013 (In millions) Service cost $ 34 $ 34 $ 47 Interest cost 81 89 88 Expected return on plan assets (131 ) (122 ) (110 ) Amortization of: Net actuarial loss 43 20 64 Prior service credit (126 ) (144 ) (131 ) Net other postretirement credit $ (99 ) $ (123 ) $ (42 ) |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | 2015 2014 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial (gain) loss $ (68 ) $ 192 Amortization of net actuarial loss (43 ) (20 ) Amortization of prior service credit 126 144 Total recognized in Regulatory assets and Other comprehensive income (loss) $ 15 $ 316 Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (84 ) $ 193 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 $ 32 $ 43 Prior service credit $ (118 ) $ (126 ) 2015 2014 (In millions) Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss) Net actuarial (gain) loss $ (57 ) $ 144 Amortization of net actuarial loss (31 ) (14 ) Amortization of prior service credit 95 109 Total recognized in Regulatory assets and Other comprehensive income (loss) $ 7 $ 239 Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss) $ (60 ) $ 153 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 $ 22 $ 31 Prior service credit $ (89 ) $ (94 ) |
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 2015 2014 2015 2014 (In millions) Change in accumulated postretirement benefit obligation Accumulated postretirement benefit obligation, beginning of year $ 2,044 $ 1,878 $ 1,558 $ 1,430 Service cost 34 34 25 26 Interest cost 81 89 62 68 Actuarial (gain) loss (224 ) 131 (166 ) 100 Benefits paid (89 ) (88 ) (65 ) (66 ) Accumulated postretirement benefit obligation, end of year $ 1,846 $ 2,044 $ 1,414 $ 1,558 Change in plan assets Plan assets at fair value, beginning of year $ 1,528 $ 1,527 $ 1,038 $ 1,061 Actual return on plan assets (25 ) 62 (19 ) 41 Company contributions 199 24 175 — Benefits paid (85 ) (85 ) (63 ) (64 ) Plan assets at fair value, end of year $ 1,617 $ 1,528 $ 1,131 $ 1,038 Funded status, end of year $ (229 ) $ (516 ) $ (283 ) $ (520 ) Amount recorded as: Noncurrent assets $ — $ — $ 24 $ — Current liabilities (1 ) (1 ) — — Noncurrent liabilities (228 ) (515 ) (307 ) (520 ) $ (229 ) $ (516 ) $ (283 ) $ (520 ) Amounts recognized in Accumulated other comprehensive income (loss), pre-tax Net actuarial loss $ 24 $ 34 $ — $ — Prior service credit (2 ) (5 ) — — $ 22 $ 29 $ — $ — Amounts recognized in Regulatory assets (see Note 8 - "Regulatory Matters") Net actuarial loss $ 387 $ 488 $ 297 $ 385 Prior service credit (131 ) (254 ) (99 ) (194 ) $ 256 $ 234 $ 198 $ 191 |
Schedule of Expected Benefit Payments | At December 31, 2015 , 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) 2016 $ 100 $ 77 2017 105 81 2018 108 84 2019 113 88 2020 116 90 2021-2025 621 476 Total $ 1,163 $ 896 |
Schedule of Assumptions Used | Assumptions used in determining the accumulated postretirement benefit obligation and net other postretirement benefit costs of the Registrants are: 2015 2014 2013 Accumulated postretirement benefit obligation Discount rate 4.50% 4.10% 4.95% Health care trend rate pre- and post- 65 6.25 / 6.75% 7.50 / 6.50% 7.50 / 6.50% Ultimate health care trend rate 4.50% 4.50% 4.50% Year in which ultimate reached pre- and post- 65 2027 2025 / 2024 2025 / 2024 Other postretirement benefit costs Discount rate (prior to interim remeasurement) 4.10% 4.95% 4.15% Discount rate (post interim remeasurement) N/A N/A 4.30% Expected long-term rate of return on plan assets 8.00% 8.00% 8.25% Health care trend rate pre- and post- 65 7.50 / 6.50% 7.50 / 6.50% 7.00% Ultimate health care trend rate 4.50% 4.50% 5.00% Year in which ultimate reached pre- and post- 65 2025 / 2024 2025 / 2024 2021 |
Schedule of Allocation of Plan Assets | Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2015 are listed below: U.S. Large Cap Equity Securities 17 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 20 Fixed Income Securities 25 Hedge Funds and Similar Investments 20 Private Equity and Other 14 100 % The following tables provide the fair value measurement amounts for the Registrants' other postretirement benefit plan assets at December 31, 2015 and 2014 (a): December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total DTE Energy asset category: (In millions) Short-term Investments (b) $ 7 $ — $ — $ 7 $ 6 $ — $ — $ 6 Equity Securities U.S. Large Cap (c) 264 — — 264 266 — — 266 U.S. Small Cap and Mid Cap (d) 138 — — 138 149 — — 149 Non-U.S. (e) 262 55 — 317 222 59 — 281 Fixed Income Securities (f) 23 390 — 413 15 360 — 375 Hedge Funds and Similar Investments (g) 109 45 171 325 107 45 168 320 Private Equity and Other (h) — — 153 153 — — 131 131 Securities Lending (i) (122 ) (6 ) — (128 ) (141 ) (17 ) — (158 ) Securities Lending Collateral (i) 122 6 — 128 141 17 — 158 DTE Energy Total $ 803 $ 490 $ 324 $ 1,617 $ 765 $ 464 $ 299 $ 1,528 DTE Electric asset category: Short-term Investments (b) $ 5 $ — $ — $ 5 $ 4 $ — $ — $ 4 Equity Securities U.S. Large Cap (c) 183 — — 183 179 — — 179 U.S. Small Cap and Mid Cap (d) 97 — — 97 102 — — 102 Non-U.S. (e) 184 37 — 221 151 39 — 190 Fixed Income Securities (f) 17 272 — 289 11 243 — 254 Hedge Funds and Similar Investments (g) 76 32 119 227 73 31 114 218 Private Equity and Other (h) — — 109 109 — — 91 91 Securities Lending (i) (87 ) (4 ) — (91 ) (98 ) (11 ) — (109 ) Securities Lending Collateral (i) 87 4 — 91 98 11 — 109 DTE Electric Total $ 562 $ 341 $ 228 $ 1,131 $ 520 $ 313 $ 205 $ 1,038 _______________________________________ (a) For a description of levels within the fair value hierarchy see Note 11 to the Consolidated Financial Statements, " Fair Value ". (b) 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. (c) This category comprises both actively and not actively managed portfolios that track the S&P 500 low cost equity index funds. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (d) This category represents portfolios of small and medium capitalization domestic equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (e) This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category are exchange-traded securities whereby unadjusted quote prices can be obtained. Exchange-traded securities held in a commingled fund are classified as Level 2 assets. (f) This category includes corporate bonds from diversified industries, U.S. Treasuries, bank loans, and mortgage backed securities. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as Level 2 assets. (g) This category utilizes a diversified group of strategies that attempt to capture financial market inefficiencies and includes publicly traded debt and equity, publicly traded mutual funds, commingled and limited partnership funds, and non-exchange traded securities. Pricing for Level 1 and Level 2 assets in this category is obtained from quoted prices in actively traded markets and quoted prices from broker or pricing services. Non-exchange traded securities held in commingled funds are classified as Level 2 assets. Valuations for some Level 3 assets in this category may be based on limited observable inputs as there may be little, if any, publicly available pricing. (h) This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in timber and private mezzanine debt. Pricing for investments in this category is based on limited observable inputs as there is little, if any, publicly available pricing. Valuations for assets in this category may be based on discounted cash flow analyses, relevant publicly-traded comparables, and comparable transactions. (i) In 2014, the Registrants began a securities lending program with a third-party agent. The program allows the agent to lend certain securities from the Registrants' VEBA trust to selected entities against receipt of collateral (in the form of cash) as provided for and determined in accordance with their securities lending agency agreements. Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2015 are listed below: U.S. Large Cap Equity Securities 17 % U.S. Small Cap and Mid Cap Equity Securities 4 Non-U.S. Equity Securities 20 Fixed Income Securities 25 Hedge Funds and Similar Investments 20 Private Equity and Other 14 100 % |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The following table provides a reconciliation of beginning and ending balances of DTE Energy's other postretirement benefit plan assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3): Year Ended December 31, 2015 Year Ended December 31, 2014 Hedge Funds Private Total Hedge Funds Private Total (In millions) Beginning Balance at January 1 $ 168 $ 131 $ 299 $ 159 $ 101 $ 260 Total realized/unrealized gains (losses) 4 9 13 8 9 17 Purchases, sales, and settlements: Purchases 11 34 45 9 33 42 Sales (12 ) (21 ) (33 ) (8 ) (12 ) (20 ) Ending Balance at December 31 $ 171 $ 153 $ 324 $ 168 $ 131 $ 299 The amount of total gains for the period attributable to the change in unrealized gains or losses related to assets still held at the end of the period $ — $ 3 $ 3 $ 7 $ 8 $ 15 The following table provides a reconciliation of beginning and ending balances of DTE Electric's other postretirement benefit plan assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3): Year Ended December 31, 2015 Year Ended December 31, 2014 Hedge Funds Private Total Hedge Funds Private Total (In millions) Beginning Balance at January 1 $ 114 $ 91 $ 205 $ 111 $ 71 $ 182 Total realized/unrealized gains (losses) 3 6 9 5 6 11 Purchases, sales, and settlements: Purchases 11 26 37 4 22 26 Sales (9 ) (14 ) (23 ) (6 ) (8 ) (14 ) Ending Balance at December 31 $ 119 $ 109 $ 228 $ 114 $ 91 $ 205 The amount of total gains for the period attributable to the change in unrealized gains or losses related to assets still held at the end of the period $ — $ 2 $ 2 $ 5 $ 5 $ 10 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation [Abstract] | |
Schedule of Employee Service Stock-based Compensation, Allocation of Recognized Period Costs | The following table summarizes the components of stock-based compensation for DTE Energy: 2015 2014 2013 (In millions) Stock-based compensation expense $ 34 $ 103 $ 99 Tax benefit $ 13 $ 40 $ 38 Stock-based compensation cost capitalized in Property, plant, and equipment $ 5 $ 16 $ 15 |
Schedule of Stock-based Compensation, Stock Options, Activity | The following table summarizes DTE Energy's stock option activity for the year ended December 31, 2015 : Number of Options Weighted Average Exercise Price Aggregate Intrinsic Options outstanding at December 31, 2014 444,278 $ 43.56 Exercised (178,017 ) $ 45.07 Forfeited or expired (3,979 ) $ 44.72 Options outstanding and exercisable at December 31, 2015 262,282 $ 42.52 $ 10 |
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, 2015 were as follows: Range of Exercise Prices Number of Options Weighted Average Weighted Average $ 27.00 — $ 38.00 22,083 $ 27.70 3.16 $ 38.01 — $ 42.00 80,434 $ 41.79 2.16 $ 42.01 — $ 45.00 116,665 $ 43.90 3.79 $ 45.01 — $ 50.00 43,100 $ 47.75 1.15 262,282 $ 42.52 2.80 |
Schedule of Stock-based Compensation, Restricted Stock Units Award Activity | Stock award activity for DTE Energy for the years ended December 31 was: 2015 2014 2013 Fair value of awards vested (in millions) $ 9 $ 11 $ 8 Restricted common shares awarded 144,300 159,590 127,785 Weighted average market price of shares awarded $ 83.43 $ 70.09 $ 64.72 Compensation cost charged against income (in millions) $ 10 $ 10 $ 23 |
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, 2015 : Restricted Weighted Average Balance at December 31, 2014 416,318 $ 62.82 Grants 144,300 $ 83.43 Forfeitures (12,721 ) $ 74.78 Vested and issued (165,453 ) $ 55.73 Balance at December 31, 2015 382,444 $ 73.26 |
Stock-based Compensation Expense | DTE Energy recorded compensation expense for performance share awards as follows: 2015 2014 2013 (In millions) Compensation expense $ 24 $ 93 $ 77 Cash settlements (a) $ 13 $ 11 $ 9 Stock settlements (a) $ 71 $ 61 $ 56 _______________________________________ (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, 2015 : Performance Shares Weighted Average Balance at December 31, 2014 1,554,697 $ 69.32 Grants 467,288 $ 83.85 Forfeitures (47,067 ) $ 76.22 Payouts (532,700 ) $ — Balance at December 31, 2015 1,442,218 $ 75.85 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards | As of December 31, 2015 , 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 $ 11 1.11 Performance shares 37 0.97 $ 48 1.00 |
Segment and Related Informati51
Segment and Related Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | 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, 2015 2014 2013 (In millions) Electric $ 36 $ 29 $ 26 Gas 3 6 4 Gas Storage and Pipelines 8 9 3 Power and Industrial Projects 785 794 816 Energy Trading 32 33 43 Corporate and Other 4 3 (24 ) $ 868 $ 874 $ 868 Financial data of DTE Energy's business segments follows: Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2015 Operating Revenues — Utility operations $ 4,901 1,376 — — — — (39 ) $ 6,238 Operating Revenues — Non-utility operations $ — — 243 2,224 2,459 2 (829 ) $ 4,099 Depreciation and amortization $ 637 104 30 78 2 1 — $ 852 Interest income $ — (7 ) (8 ) (8 ) (2 ) (52 ) 64 $ (13 ) Interest expense $ 258 62 24 32 6 132 (64 ) $ 450 Equity in earnings of equity method investees $ 2 6 47 8 — 3 — $ 66 Income Tax Expense (Benefit) $ 290 72 70 (140 ) (15 ) (47 ) — $ 230 Net Income (Loss) Attributable to DTE Energy Company $ 542 132 107 16 (22 ) (48 ) — $ 727 Investment in equity method investees $ 10 9 296 183 — 16 — $ 514 Capital expenditures and acquisitions $ 1,785 273 161 36 6 — — $ 2,261 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 19,539 4,299 1,047 860 590 3,530 (1,128 ) $ 28,737 Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2014 Operating Revenues — Utility operations $ 5,283 1,636 — — — — (35 ) $ 6,884 Operating Revenues — Non-utility operations $ — — 203 2,289 3,762 2 (839 ) $ 5,417 Depreciation and amortization $ 933 99 34 77 1 1 — $ 1,145 Interest income $ (1 ) (7 ) (6 ) (5 ) — (48 ) 57 $ (10 ) Interest expense $ 250 57 22 28 7 122 (57 ) $ 429 Equity in earnings of equity method investees $ 1 7 35 5 — — — $ 48 Income Tax Expense (Benefit) $ 296 78 53 (100 ) 77 (40 ) — $ 364 Net Income (Loss) Attributable to DTE Energy Company $ 528 140 82 90 122 (57 ) — $ 905 Investment in equity method investees $ 8 10 224 184 — 8 — $ 434 Capital expenditures and acquisitions $ 1,561 224 184 77 3 — — $ 2,049 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 18,713 4,247 883 998 755 3,209 (906 ) $ 27,899 Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reclassifications Total (In millions) 2013 Operating Revenues — Utility operations $ 5,199 1,474 — — — — (30 ) $ 6,643 Operating Revenues — Non-utility operations $ — — 132 1,950 1,771 3 (838 ) $ 3,018 Depreciation and amortization $ 902 95 23 72 1 1 — $ 1,094 Interest income $ (1 ) (7 ) (7 ) (6 ) — (51 ) 63 $ (9 ) Interest expense $ 268 58 18 27 8 120 (63 ) $ 436 Equity in earnings of equity method investees $ 1 6 44 8 — — — $ 59 Income Tax Expense (Benefit) $ 252 77 45 (45 ) (38 ) (37 ) — $ 254 Net Income (Loss) Attributable to DTE Energy Company $ 484 143 70 66 (58 ) (44 ) — $ 661 Investment in equity method investees $ 9 10 201 189 — 6 — $ 415 Capital expenditures and acquisitions $ 1,325 209 245 93 3 1 — $ 1,876 Goodwill $ 1,208 743 24 26 17 — — $ 2,018 Total Assets $ 17,508 3,920 823 1,054 624 2,945 (939 ) $ 25,935 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | The following is a summary of DTE Electric's transactions with affiliated companies: 2015 2014 2013 (In millions) Revenues Energy sales $ 2 $ 2 $ 2 Other services $ 6 $ 5 $ 7 Shared capital assets $ 33 $ 26 $ 23 Costs Fuel and purchased power $ 9 $ 4 $ 4 Other services and interest $ 2 $ (1 ) $ (1 ) Corporate expenses (net) $ 334 $ 304 $ 334 Other Dividends declared $ 395 $ 370 $ 342 Dividends paid $ 395 $ 370 $ 342 Capital contribution from DTE Energy $ 300 $ 190 $ 400 |
Supplementary Quarterly Finan53
Supplementary Quarterly Financial Information (Unaudited ) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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) 2015 Operating Revenues $ 2,984 $ 2,268 $ 2,598 $ 2,487 $ 10,337 Operating Income $ 461 $ 204 $ 440 $ 134 $ 1,239 Net Income Attributable to DTE Energy Company $ 273 $ 109 $ 265 $ 80 $ 727 Basic Earnings per Share $ 1.53 $ 0.61 $ 1.47 $ 0.45 $ 4.05 Diluted Earnings per Share $ 1.53 $ 0.61 $ 1.47 $ 0.45 $ 4.05 2014 Operating Revenues $ 3,930 $ 2,698 $ 2,595 $ 3,078 $ 12,301 Operating Income $ 560 $ 249 $ 239 $ 542 $ 1,590 Net Income Attributable to DTE Energy Company $ 326 $ 124 $ 156 $ 299 $ 905 Basic Earnings per Share $ 1.84 $ 0.70 $ 0.88 $ 1.68 $ 5.11 Diluted Earnings per Share $ 1.84 $ 0.70 $ 0.88 $ 1.68 $ 5.10 DTE Electric First Second Third Fourth Year (In millions) 2015 Operating Revenues $ 1,203 $ 1,147 $ 1,385 $ 1,165 $ 4,900 Operating Income $ 268 $ 214 $ 400 $ 192 $ 1,074 Net Income $ 137 $ 99 $ 216 $ 92 $ 544 2014 Operating Revenues $ 1,410 $ 1,281 $ 1,357 $ 1,234 $ 5,282 Operating Income $ 271 $ 259 $ 272 $ 250 $ 1,052 Net Income $ 137 $ 130 $ 136 $ 129 $ 532 |
Valuation and Qualifying Acco54
Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Summary of Valuation Allowance [Table Text Block] | Valuation and Qualifying Accounts Year Ending December 31, 2015 2014 2013 (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 $ 54 $ 55 $ 62 Additions: Charged to costs and expenses 93 95 94 Charged to other accounts (a) 14 20 23 Deductions (b) (112 ) (116 ) (124 ) Balance at End of Period $ 49 $ 54 $ 55 _______________________________________ (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, 2015 2014 2013 (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 $ 29 $ 28 $ 35 Additions: Charged to costs and expenses 51 50 52 Charged to other accounts (a) 6 10 11 Deductions (b) (58 ) (59 ) (70 ) Balance at End of Period $ 28 $ 29 $ 28 _______________________________________ (a) Collection of accounts previously written off. (b) Uncollectible accounts written off. |
Organization and Basis of Pre55
Organization and Basis of Presentation (Details Textuals) customer in Millions, $ in Millions | Dec. 31, 2015USD ($)customer | Dec. 31, 2014USD ($) |
Entity Information [Line Items] | ||
Number of electric utility customers | 2.2 | |
Number of gas utility customers | 1.2 | |
Amount in excess of carrying amount | $ | $ 81 | $ 81 |
Organization and Basis of Pre56
Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Assets [Abstract] | ||||
Cash and cash equivalents | $ 37 | $ 48 | $ 52 | $ 65 |
Restricted cash | 23 | 120 | ||
Accounts receivable | 1,276 | 1,504 | ||
Property, plant, and equipment, net | 18,034 | 16,820 | ||
Securitized regulatory assets | 0 | 34 | ||
Total Assets | 28,737 | 27,899 | $ 25,935 | |
Liabilities [Abstract] | ||||
Current portion long-term debt, including capital leases | 473 | 274 | ||
Current regulatory liabilities | 41 | 153 | ||
Mortgage bonds, notes, and other | 8,340 | 7,860 | ||
Capital lease obligations | 15 | 3 | ||
Variable Interest Entity, Primary Beneficiary, Restricted | ||||
Assets [Abstract] | ||||
Cash and cash equivalents | 14 | 7 | ||
Restricted cash | 8 | 104 | ||
Accounts receivable | 18 | 41 | ||
Inventories | 82 | 67 | ||
Property, plant, and equipment, net | 66 | 81 | ||
Securitized regulatory assets | 0 | 34 | ||
Other current and long-term assets | 4 | 7 | ||
Total Assets | 192 | 341 | ||
Liabilities [Abstract] | ||||
Accounts payable and accrued current liabilities | 13 | 11 | ||
Current portion long-term debt, including capital leases | 8 | 115 | ||
Current regulatory liabilities | 0 | 32 | ||
Mortgage bonds, notes, and other | 10 | 15 | ||
Capital lease obligations | 0 | 3 | ||
Other current and long-term liabilities | 6 | 15 | ||
Total Liabilities | $ 37 | 191 | ||
Variable Interest Entity, Primary Beneficiary Securitization | ||||
Assets [Abstract] | ||||
Cash and cash equivalents | 0 | |||
Restricted cash | 96 | |||
Accounts receivable | 26 | |||
Inventories | 0 | |||
Property, plant, and equipment, net | 0 | |||
Securitized regulatory assets | 34 | |||
Other current and long-term assets | 1 | |||
Total Assets | 157 | |||
Liabilities [Abstract] | ||||
Accounts payable and accrued current liabilities | 3 | |||
Current portion long-term debt, including capital leases | 105 | |||
Current regulatory liabilities | 32 | |||
Mortgage bonds, notes, and other | 0 | |||
Capital lease obligations | 0 | |||
Other current and long-term liabilities | 9 | |||
Total Liabilities | 149 | |||
Variable Interest Entity, Primary Beneficiary Other, Restricted | ||||
Assets [Abstract] | ||||
Cash and cash equivalents | 7 | |||
Restricted cash | 8 | |||
Accounts receivable | 15 | |||
Inventories | 67 | |||
Property, plant, and equipment, net | 81 | |||
Securitized regulatory assets | 0 | |||
Other current and long-term assets | 6 | |||
Total Assets | 184 | |||
Liabilities [Abstract] | ||||
Accounts payable and accrued current liabilities | 8 | |||
Current portion long-term debt, including capital leases | 10 | |||
Current regulatory liabilities | 0 | |||
Mortgage bonds, notes, and other | 15 | |||
Capital lease obligations | 3 | |||
Other current and long-term liabilities | 6 | |||
Total Liabilities | $ 42 |
Organization and Basis of Pre57
Organization and Basis of Presentation (Non Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Variable Interest Entity [Line Items] | |||
Investments in equity method investees | $ 514 | $ 434 | $ 415 |
Notes receivable | 85 | 90 | |
Variable Interest Entity, NonConsolidated | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method investees | 136 | 134 | |
Notes receivable | $ 15 | $ 15 |
Organization and Basis of Pre58
Organization and Basis of Presentation Equity Method Investees (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule of Equity Method Investments [Line Items] | |||
Investments in equity method investees | $ 514 | $ 434 | $ 415 |
Gas Storage and Pipelines | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments in equity method investees | 296 | 224 | |
Gas Storage and Pipelines | NEXUS Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments in equity method investees | $ 89 | $ 16 | |
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | |
Gas Storage and Pipelines | Vector Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments in equity method investees | $ 96 | $ 98 | |
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | |
Gas Storage and Pipelines | Millennium Pipeline | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments in equity method investees | $ 111 | $ 110 | |
Equity Method Investment, Ownership Percentage | 26.00% | 26.00% | |
Other Segments | |||
Schedule of Equity Method Investments [Line Items] | |||
Investments in equity method investees | $ 218 | $ 210 |
Significant Accounting Policics
Significant Accounting Policics (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | $ (155) | $ (136) | |
Other comprehensive income (loss) before reclassifications | (1) | (26) | |
Amounts reclassified from Accumulated other comprehensive income | 11 | 7 | |
Net current-period Other comprehensive income (loss) | 10 | (19) | $ 22 |
Ending balance | (145) | (155) | (136) |
Net Unrealized Loss on Derivatives | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | (4) | (4) | |
Other comprehensive income (loss) before reclassifications | 0 | 0 | |
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | |
Net current-period Other comprehensive income (loss) | 0 | 0 | |
Ending balance | (4) | (4) | (4) |
Net Unrealized Gain/(Loss) on Investments | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | (5) | (6) | |
Other comprehensive income (loss) before reclassifications | 1 | 1 | |
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | |
Net current-period Other comprehensive income (loss) | 1 | 1 | |
Ending balance | (4) | (5) | (6) |
Benefit Obligations (b) | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | (144) | (126) | |
Other comprehensive income (loss) before reclassifications | 2 | (25) | |
Amounts reclassified from Accumulated other comprehensive income | 11 | 7 | |
Net current-period Other comprehensive income (loss) | 13 | (18) | |
Ending balance | (131) | (144) | (126) |
Foreign Currency Translation | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | (2) | 0 | |
Other comprehensive income (loss) before reclassifications | (4) | (2) | |
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | |
Net current-period Other comprehensive income (loss) | (4) | (2) | |
Ending balance | (6) | (2) | 0 |
DTE Electric | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | (26) | (16) | |
Other comprehensive income (loss) before reclassifications | 1 | (12) | |
Transfer of amounts from Accumulated other comprehensive income to affiliate | 27 | ||
Amounts reclassified from Accumulated other comprehensive income | 0 | 2 | |
Net current-period Other comprehensive income (loss) | 28 | (10) | 6 |
Ending balance | 2 | (26) | (16) |
DTE Electric | Net Unrealized Gain/(Loss) on Investments | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | 1 | 1 | |
Other comprehensive income (loss) before reclassifications | 1 | 0 | |
Transfer of amounts from Accumulated other comprehensive income to affiliate | 0 | ||
Amounts reclassified from Accumulated other comprehensive income | 0 | 0 | |
Net current-period Other comprehensive income (loss) | 1 | 0 | |
Ending balance | 2 | 1 | 1 |
DTE Electric | Benefit Obligations (b) | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Beginning balance | (27) | (17) | |
Other comprehensive income (loss) before reclassifications | 0 | (12) | |
Transfer of amounts from Accumulated other comprehensive income to affiliate | 27 | ||
Amounts reclassified from Accumulated other comprehensive income | 0 | 2 | |
Net current-period Other comprehensive income (loss) | 27 | (10) | |
Ending balance | $ 0 | $ (27) | $ (17) |
Significant Accounting Polici60
Significant Accounting Policies (Intangible Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | $ 156 | $ 168 |
Less accumulated amortization | 62 | 57 |
Intangible assets, net | 94 | 111 |
Less current intangible assets | 5 | 9 |
Intangible assets | 89 | 102 |
Emission allowances | ||
Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 1 | 1 |
Renewable energy credits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | 38 | 45 |
Contract intangible assets | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | 117 | 122 |
DTE Electric | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 39 | 46 |
Less current intangible assets | 5 | 9 |
Intangible assets | 34 | 37 |
DTE Electric | Emission allowances | ||
Finite-Lived Intangible Assets [Line Items] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 1 | 1 |
DTE Electric | Renewable energy credits | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 38 | $ 45 |
Significant Accounting Polici61
Significant Accounting Policies (Future Amortization Expense Intangible Assets) (Details) $ in Millions | Dec. 31, 2015USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2,016 | $ 10 |
2,017 | 7 |
2,018 | 7 |
2,019 | 7 |
2,020 | $ 5 |
Significant Accounting Polici62
Significant Accounting Policies (Details Textuals) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Significant Accounting Policies [Line Items] | |||
Other income | $ 209,000,000 | $ 196,000,000 | $ 201,000,000 |
Receivables due date | 21 days | ||
Threshold period past due for write-off of trade accounts receivable | 150 days | ||
Specific review of probable future collections based on receivable balances in excess of 90 days | 30 days | ||
Unbilled revenues | $ 1,276,000,000 | 1,504,000,000 | |
Regulatory liabilities | $ 610,000,000 | 820,000,000 | |
Property maintenance accrual period | 18 months | ||
Amortization of Intangible Assets | $ 11,000,000 | 12,000,000 | 14,000,000 |
Excise and sales taxes net impact on statement of operations | 0 | ||
Charitable contributions | 12,000,000 | 25,000,000 | 18,000,000 |
Power and Industrial Projects | |||
Significant Accounting Policies [Line Items] | |||
Other income | 83,000,000 | 78,000,000 | 81,000,000 |
Unbilled Revenues | |||
Significant Accounting Policies [Line Items] | |||
Unbilled revenues | 620,000,000 | 773,000,000 | |
DTE Electric | |||
Significant Accounting Policies [Line Items] | |||
Other income | 60,000,000 | 62,000,000 | $ 54,000,000 |
Unbilled revenues | 657,000,000 | 688,000,000 | |
Regulatory liabilities | 218,000,000 | 395,000,000 | |
DTE Electric | Unbilled Revenues | |||
Significant Accounting Policies [Line Items] | |||
Unbilled revenues | $ 237,000,000 | 250,000,000 | |
Minimum | |||
Significant Accounting Policies [Line Items] | |||
Notes receivable considered delinquent period | 60 days | ||
Finite-lived intangible asset, useful life | 1 year | ||
Maximum | |||
Significant Accounting Policies [Line Items] | |||
Notes receivable considered delinquent period | 120 days | ||
Finite-lived intangible asset, useful life | 26 years | ||
Public Utilities, Inventory, Natural Gas | |||
Significant Accounting Policies [Line Items] | |||
LIFO inventory amount | $ 65,000,000 | 43,000,000 | |
Excess of replacement costs over stated LIFO value | 60,000,000 | 110,000,000 | |
Fermi 2 refueling outage | |||
Significant Accounting Policies [Line Items] | |||
Regulatory liabilities | 4,000,000 | 16,000,000 | |
Fermi 2 refueling outage | DTE Electric | |||
Significant Accounting Policies [Line Items] | |||
Regulatory liabilities | $ 4,000,000 | $ 16,000,000 |
New Accounting Pronouncements (
New Accounting Pronouncements (Details) - New Accounting Pronouncement, Early Adoption, Effect - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Decrease in deferred tax asset | $ 75 | |
Decrease in deferred tax liability | 2 | |
Assets | Pro Forma | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Debt issuance cost | $ (74) | (73) |
Liability | Pro Forma | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Debt issuance cost | $ (36) | $ (35) |
Acquisitions and Exit Activit64
Acquisitions and Exit Activities (Acquisitions) (Details) - DTE Electric $ in Millions | Oct. 01, 2015USD ($)MW | Jan. 21, 2015USD ($)MW | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) |
Business Acquisition [Line Items] | |||||
Total purchase price | $ 310 | $ 0 | $ 0 | ||
Natural Gas Facility in Carson City Michigan | |||||
Business Acquisition [Line Items] | |||||
Gas facility capacity | MW | 732 | ||||
Total purchase price | $ 241 | ||||
Natural Gas Facility in East China Township Michigan | |||||
Business Acquisition [Line Items] | |||||
Gas facility capacity | MW | 350 | ||||
Cash consideration and total purchase price | $ 69 |
Acquisitions and Exit Activit65
Acquisitions and Exit Activities (Exit Activities) (Details) - Facility Closing $ in Millions | Dec. 17, 2015USD ($)employee | Dec. 31, 2015USD ($) |
Restructuring Cost and Reserve [Line Items] | ||
Total Exit Activity Charges | $ 111 | |
Charge to fully impair long-lived assets | $ 96 | |
Number of employees related to workforce reduction | employee | 170 | |
Severance expense | $ 3 | |
Inventory write down | $ 12 | |
Future exit costs | $ 7 |
Acquisitions and Exit Activit66
Acquisitions and Exit Activities (Restructuring and Related Costs) (Details) - Facility Closing $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Total Exit Activity Charges | $ 111 |
Fuel, purchased power, and gas — non-utility | |
Restructuring Cost and Reserve [Line Items] | |
Total Exit Activity Charges | 5 |
Operation and maintenance | |
Restructuring Cost and Reserve [Line Items] | |
Total Exit Activity Charges | 10 |
Asset (gains) losses and impairments, net | |
Restructuring Cost and Reserve [Line Items] | |
Total Exit Activity Charges | $ 96 |
Property, Plant, and Equipmen67
Property, Plant, and Equipment (Summary of Property by Classification) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | $ 28,121 | $ 26,538 |
Less accumulated depreciation and amortization | (10,087) | (9,718) |
Net Property, plant, and equipment | 18,034 | 16,820 |
Non-utility and other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 2,263 | 2,476 |
Less accumulated depreciation and amortization | (761) | (867) |
DTE Electric | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 21,391 | 19,805 |
Less accumulated depreciation and amortization | (7,646) | (7,216) |
Net Property, plant, and equipment | 13,745 | 12,589 |
DTE Electric | Generation | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 11,767 | 10,712 |
Less accumulated depreciation and amortization | (4,346) | (3,863) |
DTE Electric | Distribution | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 7,816 | 7,414 |
Less accumulated depreciation and amortization | (2,707) | (2,822) |
DTE Electric | Other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 1,808 | 1,679 |
Less accumulated depreciation and amortization | (593) | (531) |
DTE Gas | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 4,467 | 4,257 |
Less accumulated depreciation and amortization | (1,680) | (1,635) |
DTE Gas | Distribution | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 3,124 | 2,946 |
Less accumulated depreciation and amortization | (1,163) | (1,130) |
DTE Gas | Storage | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 453 | 448 |
Less accumulated depreciation and amortization | (147) | (142) |
DTE Gas | Transmission and other | ||
Property, Plant, and Equipment [Line Items] | ||
Property, plant, and equipment | 890 | 863 |
Less accumulated depreciation and amortization | $ (370) | $ (363) |
Property, Plant, and Equipmen68
Property, Plant, and Equipment (Average Estimated Useful Life of Each Major Class) (Details) | 12 Months Ended |
Dec. 31, 2015 | |
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 Equipmen69
Property, Plant, and Equipment (Depreciation and Amortization) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant, and Equipment [Line Items] | |||
Property, plant, and equipment | $ 740 | $ 683 | $ 630 |
Regulatory assets and liabilities | 150 | 159 | 163 |
Securitized regulatory assets | 38 | (303) | (301) |
Depreciation and amortization | 852 | 1,145 | 1,094 |
Depreciation and amortization | 852 | 1,145 | 1,094 |
DTE Electric | |||
Property, Plant, and Equipment [Line Items] | |||
Property, plant, and equipment | 545 | 489 | 457 |
Regulatory assets and liabilities | 126 | 135 | 138 |
Securitized regulatory assets | 38 | (303) | (301) |
Depreciation and amortization | 633 | 927 | 896 |
Depreciation and amortization | $ 633 | $ 927 | $ 896 |
Property, Plant, and Equipmen70
Property, Plant, and Equipment (Capitalized Software) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant, and Equipment [Line Items] | |||
Amortization expense of capitalized software | $ 98 | $ 77 | $ 71 |
Gross carrying value of capitalized software | 770 | 668 | |
Accumulated amortization of capitalized software | 439 | 335 | |
DTE Electric | |||
Property, Plant, and Equipment [Line Items] | |||
Amortization expense of capitalized software | 80 | 71 | $ 64 |
Gross carrying value of capitalized software | 664 | 590 | |
Accumulated amortization of capitalized software | $ 369 | $ 293 |
Property, Plant, and Equipmen71
Property, Plant, and Equipment (Capital Leases) (Details) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Capital Leased Assets [Line Items] | ||
Gross property under capital leases | $ 48 | $ 35 |
Accumulated amortization of property under capital leases | 26 | 27 |
DTE Electric | ||
Capital Leased Assets [Line Items] | ||
Gross property under capital leases | 22 | 9 |
Accumulated amortization of property under capital leases | $ 1 | $ 5 |
Property, Plant, and Equipmen72
Property, Plant, and Equipment (Details Textuals) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Public Utility Property, Plant, and Equipment [Line Items] | |||
AFUDC capitalized | $ 34 | $ 37 | |
DTE Gas | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Disclosure of composite depreciation rate for plants in service | 2.60% | 2.40% | 2.40% |
DTE Electric | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Disclosure of composite depreciation rate for plants in service | 3.50% | 3.40% | 3.40% |
DTE Electric | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
AFUDC capitalized | $ 31 | $ 32 | |
Other | DTE Electric | Minimum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 5 years | ||
Other | DTE Electric | Maximum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 62 years | ||
Transmission and other | DTE Gas | Minimum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 5 years | ||
Transmission and other | DTE Gas | Maximum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 70 years | ||
Non-utility and other | Minimum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 3 years | ||
Non-utility and other | Maximum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 55 years | ||
Computer Software, Intangible Asset | Minimum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 3 years | ||
Computer Software, Intangible Asset | Maximum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 15 years | ||
Computer Software, Intangible Asset | DTE Electric | Minimum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 5 years | ||
Computer Software, Intangible Asset | DTE Electric | Maximum | |||
Public Utility Property, Plant, and Equipment [Line Items] | |||
Property plant and equipment, useful life | 15 years |
Jointly-Owned Utility Plant (De
Jointly-Owned Utility Plant (Details) $ in Millions | Dec. 31, 2015USD ($)MW |
Belle River | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Total plant capacity | MW | 1,270 |
Investment in Property, plant, and equipment (in millions) | $ 1,779 |
Accumulated depreciation (in millions) | $ 1,053 |
Ludington Hydroelectric Pumped Storage | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Total plant capacity | MW | 1,955 |
Ownership interest | 49.00% |
Investment in Property, plant, and equipment (in millions) | $ 443 |
Accumulated depreciation (in millions) | $ 154 |
Jointly-Owned Utility Plant (74
Jointly-Owned Utility Plant (Detail Textuals) | Dec. 31, 2015facilities |
Jointly-Owned Utility Plant Interests [Line Items] | |
Number of power plants owned | 2 |
Belle River Unit 1 | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 63.00% |
Belle River Facilities used jointly by Belle River and St. Clair Power Plants | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 81.00% |
Belle River Unit 2 | |
Jointly-Owned Utility Plant Interests [Line Items] | |
Ownership interest | 75.00% |
Belle River | |
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] | |
Ownership interest | 49.00% |
Percent of the total capacity and energy of the plant | 51.00% |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Asset retirement obligations at December 31, 2014 | $ 1,962 |
Accretion | 119 |
Liabilities incurred | 33 |
Revision in estimated cash flows | 80 |
Asset retirement obligations at December 31, 2015 | 2,194 |
DTE Electric | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | |
Asset retirement obligations at December 31, 2014 | 1,796 |
Accretion | 111 |
Liabilities incurred | 33 |
Revision in estimated cash flows | 80 |
Asset retirement obligations at December 31, 2015 | $ 2,020 |
Asset Retirement Obligations 76
Asset Retirement Obligations (Details Textuals) - Fermi 2 | Dec. 31, 2015USD ($) |
Asset Retirement Obligations [Line Items] | |
Nuclear decommissioning liabilities funded through surcharge and included in ARO balance | $ 1,800,000,000 |
Liabilities balance upon completion of decommissioning | $ 0 |
Regulatory Matters (Schedule of
Regulatory Matters (Schedule of Regulatory Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Regulatory Assets [Line Items] | ||
Regulatory Assets | $ 3,724 | $ 3,727 |
Less amount included in Current Assets | (32) | (76) |
Regulatory Assets, Noncurrent | 3,692 | 3,651 |
Securitized regulatory assets | 0 | 34 |
Pension | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 2,112 | 2,284 |
Other postretirement costs | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 256 | 234 |
Asset retirement obligation | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 565 | 448 |
Recoverable Michigan income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 248 | 267 |
Removal costs asset | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 118 | 15 |
Unamortized loss on reacquired debt | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 63 | 67 |
Other recoverable income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 61 | 66 |
Deferred environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 54 | 59 |
Transitional Reconciliation Mechanism | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 43 | 14 |
Cost to achieve Performance Excellence Process | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 33 | 54 |
Accrued PSCR/GCR revenue | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 12 | 61 |
Recoverable income taxes related to Securitized regulatory assets | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 0 | 19 |
Other | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 159 | 139 |
DTE Electric | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 2,986 | 2,959 |
Less amount included in Current Assets | (17) | (46) |
Regulatory Assets, Noncurrent | 2,969 | 2,913 |
Securitized regulatory assets | 0 | 34 |
DTE Electric | Pension | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 1,592 | 1,743 |
DTE Electric | Other postretirement costs | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 198 | 191 |
DTE Electric | Asset retirement obligation | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 565 | 448 |
DTE Electric | Recoverable Michigan income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 203 | 220 |
DTE Electric | Removal costs asset | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 118 | 15 |
DTE Electric | Unamortized loss on reacquired debt | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 41 | 44 |
DTE Electric | Other recoverable income taxes | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 61 | 66 |
DTE Electric | Deferred environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 0 | 0 |
DTE Electric | Transitional Reconciliation Mechanism | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 43 | 14 |
DTE Electric | Cost to achieve Performance Excellence Process | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 28 | 46 |
DTE Electric | Accrued PSCR/GCR revenue | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 0 | 34 |
DTE Electric | Recoverable income taxes related to Securitized regulatory assets | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | 0 | 19 |
DTE Electric | Other | ||
Regulatory Assets [Line Items] | ||
Regulatory Assets | $ 137 | $ 119 |
Regulatory Matters Regulatory M
Regulatory Matters Regulatory Matters (Schedule of Regulatory Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 610 | $ 820 |
Less amount included in Current Liabilities | (41) | (153) |
Regulatory liabilities | 569 | 667 |
Removal costs liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 291 | 308 |
Renewable energy | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 197 | 227 |
Pension | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 46 | 67 |
Accrued PSCR/GCR refund | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 37 | 0 |
Refundable income taxes | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 23 | 33 |
Energy optimization | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 10 | 24 |
Fermi 2 refueling outage | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 4 | 16 |
Securitization over recovery | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 71 |
Refundable revenue decoupling/deferred gain | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 63 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 2 | 11 |
DTE Electric | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 218 | 395 |
Less amount included in Current Liabilities | (19) | (150) |
Regulatory liabilities | 199 | 245 |
DTE Electric | Removal costs liability | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 0 |
DTE Electric | Renewable energy | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 197 | 227 |
DTE Electric | Pension | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 0 |
DTE Electric | Accrued PSCR/GCR refund | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 15 | 0 |
DTE Electric | Refundable income taxes | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 0 |
DTE Electric | Energy optimization | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 14 |
DTE Electric | Fermi 2 refueling outage | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 4 | 16 |
DTE Electric | Securitization over recovery | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 71 |
DTE Electric | Refundable revenue decoupling/deferred gain | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 63 |
DTE Electric | Other | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 2 | $ 4 |
Regulatory Matters (Details Tex
Regulatory Matters (Details Textuals) $ in Millions | Feb. 01, 2016USD ($) | Jan. 19, 2016 | Dec. 18, 2015USD ($) | Dec. 11, 2015USD ($) | Dec. 10, 2015 | Jul. 01, 2015USD ($) | Dec. 19, 2014USD ($) | Nov. 30, 2015USD ($) | Jul. 31, 2015USD ($) | Dec. 31, 2014 | Jul. 31, 2014USD ($) | Mar. 31, 2013feed_water_pump | Dec. 31, 2015USD ($) | Dec. 31, 2015 | Jun. 30, 2015USD ($) | Nov. 30, 2014USD ($) | Jul. 30, 2012 |
Regulatory Assets [Line Items] | |||||||||||||||||
Deferral of investigation and remediation of costs associated with gas utilities former MGP sites | 10 years | ||||||||||||||||
Amortization period of cost to achieve deferral | 10 years | ||||||||||||||||
Time period required by non-bypassable securitization bond surcharge to recover securitized regulatory asset | 14 years | ||||||||||||||||
Power Supply Cost Recovery | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Number of failed feed water pumps | feed_water_pump | 1 | ||||||||||||||||
Number of feed water pumps | feed_water_pump | 2 | ||||||||||||||||
DTE Electric | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Fermi 2 production level of full capacity | 68.00% | ||||||||||||||||
Maximum of challenged Fermi 2 outage charges | $ 19 | ||||||||||||||||
DTE Electric | MPSC | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Damages sought | $ 22 | ||||||||||||||||
Refund amount | $ 20 | ||||||||||||||||
Interest calculated percent per annum | 7.00% | ||||||||||||||||
Payment of refund | $ 25 | ||||||||||||||||
DTE Electric | MPSC | Electric Rate Case Filing 2014 | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Public utilities, requested rate increase (decrease) | $ 370 | ||||||||||||||||
Public utilities, annual revenue increase | $ 230 | ||||||||||||||||
Self-implemented base rate increase | 190 | ||||||||||||||||
Required elimination of a credit surcharge | $ 40 | ||||||||||||||||
Public utilities, approved rate increase | $ 238 | ||||||||||||||||
Return on equity | 10.30% | 10.50% | |||||||||||||||
Capital debt structure | 50.00% | ||||||||||||||||
Capital equity structure | 50.00% | ||||||||||||||||
Disallowance amount | $ 10 | ||||||||||||||||
DTE Electric | PSCR | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Estimated recovery amount | $ 16 | ||||||||||||||||
DTE Gas | MPSC | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Infrastructure recovery mechanism surcharge | $ 47 | ||||||||||||||||
Surcharge | $ 16 | ||||||||||||||||
Surcharge due year two | $ 31 | ||||||||||||||||
DTE Gas | MPSC | DTE Gas Rate Case Filing 2015 | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Public utilities, requested rate increase (decrease) | $ 183 | ||||||||||||||||
Return on equity | 10.50% | ||||||||||||||||
Capital debt structure | 48.00% | ||||||||||||||||
Capital equity structure | 52.00% | ||||||||||||||||
Increased return on equity | 10.75% | ||||||||||||||||
Increase in net plant | $ 800 | ||||||||||||||||
Subsequent Event | DTE Electric | MPSC | Electric Rate Case Filing 2014 | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Amortization period (in years) | 20 years | ||||||||||||||||
Subsequent Event | DTE Electric | MPSC | Electric Rate Case Filing 2016 | |||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||
Public utilities, requested rate increase (decrease) | $ 344 | ||||||||||||||||
Return on equity | 10.30% | ||||||||||||||||
Capital debt structure | 50.00% | ||||||||||||||||
Capital equity structure | 50.00% | ||||||||||||||||
Increased return on equity | 10.50% |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Income Tax Expense to the Statutory Federal Income Tax Rate) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Income Before Income Taxes | $ 950 | $ 1,275 | $ 922 |
Income tax expense at 35% statutory rate | 333 | 446 | 323 |
Production tax credits | (122) | (119) | (68) |
Investment tax credits | (7) | (6) | (6) |
Depreciation | (4) | (4) | (4) |
AFUDC - Equity | (8) | (7) | (5) |
Employee Stock Ownership Plan dividends | (5) | (4) | (4) |
Domestic production activities deduction | 0 | 0 | (14) |
State and local income taxes, net of federal benefit | 35 | 51 | 37 |
Enactment of New York Corporate Income Tax Legislation, net of federal benefit | 0 | 8 | 0 |
Other, net | 8 | (1) | (5) |
Income Tax Expense (Benefit) | $ 230 | $ 364 | $ 254 |
Effective income tax rate (as percent) | 24.20% | 28.50% | 27.50% |
DTE Electric | |||
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Income Before Income Taxes | $ 836 | $ 830 | $ 741 |
Income tax expense at 35% statutory rate | 293 | 291 | 260 |
Production tax credits | (31) | (22) | (15) |
Investment tax credits | (5) | (5) | (5) |
Depreciation | 3 | 3 | 3 |
AFUDC - Equity | (7) | (7) | (5) |
Employee Stock Ownership Plan dividends | (3) | (3) | (2) |
Domestic production activities deduction | 0 | (2) | (18) |
State and local income taxes, net of federal benefit | 43 | 43 | 41 |
Other, net | (1) | 0 | (5) |
Income Tax Expense (Benefit) | $ 292 | $ 298 | $ 254 |
Effective income tax rate (as percent) | 34.90% | 35.90% | 34.30% |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current income tax expense (benefit) | |||
Federal | $ (3) | $ (16) | $ 74 |
State and other income tax | (4) | 24 | 16 |
Total current income taxes | (7) | 8 | 90 |
Deferred income tax expense | |||
Federal | 178 | 289 | 122 |
State and other income tax | 59 | 67 | 42 |
Total deferred income taxes | 237 | 356 | 164 |
Total | 230 | 364 | 254 |
DTE Electric | |||
Current income tax expense (benefit) | |||
Federal | (26) | (19) | 123 |
State and other income tax | (2) | 20 | 23 |
Total current income taxes | (28) | 1 | 146 |
Deferred income tax expense | |||
Federal | 252 | 251 | 68 |
State and other income tax | 68 | 46 | 40 |
Total deferred income taxes | 320 | 297 | 108 |
Total | $ 292 | $ 298 | $ 254 |
Income Taxes (Deferred Tax Asse
Income Taxes (Deferred Tax Assets (Liabilities)) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property, plant, and equipment | $ (4,211) | $ (3,832) |
Securitized regulatory assets | 5 | (2) |
Tax credit carry-forwards | 465 | 296 |
Pension and benefits | (301) | (152) |
Federal net operating loss carry-forward | 177 | 0 |
State and local net operating loss carry-forwards | 63 | 39 |
Investments in equity method investees | (82) | (84) |
Other | (4) | 65 |
Deferred Tax Liabilities, Gross | (3,888) | (3,670) |
Less valuation allowance | (35) | (31) |
Deferred income tax assets | 1,088 | 861 |
Deferred income tax liabilities | (5,011) | (4,562) |
Deferred income tax liabilities | (3,923) | (3,701) |
DTE Electric | ||
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property, plant, and equipment | (3,468) | (3,152) |
Securitized regulatory assets | 5 | (3) |
Tax credit carry-forwards | 53 | 0 |
Pension and benefits | (193) | (43) |
Federal net operating loss carry-forward | 142 | 0 |
State and local net operating loss carry-forwards | 16 | 0 |
Investments in equity method investees | 0 | 0 |
Other | (53) | 12 |
Deferred Tax Liabilities, Gross | (3,498) | (3,186) |
Less valuation allowance | 0 | 0 |
Deferred income tax assets | 453 | 357 |
Deferred income tax liabilities | (3,951) | (3,543) |
Deferred income tax liabilities | $ (3,498) | $ (3,186) |
Income Taxes (Reconciliation 83
Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits, beginning balance | $ 9 | $ 10 | $ 11 |
Lapse of statute of limitations | (6) | (1) | (1) |
Unrecognized Tax Benefits, ending balance | 3 | 9 | 10 |
DTE Electric | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits, beginning balance | 4 | 4 | 4 |
Unrecognized Tax Benefits, ending balance | $ 4 | $ 4 | $ 4 |
Income Taxes (Details Textuals)
Income Taxes (Details Textuals) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Entity Information [Line Items] | ||
Deferred tax asset, general business tax credit carryforwards | $ 181,000,000 | |
Deferred tax asset, alternative minimum tax credit carryforwards | 284,000,000 | |
State and local net operating loss carry-forwards | 63,000,000 | $ 39,000,000 |
Valuation allowance | 35,000,000 | 31,000,000 |
Unrecognized tax benefits that would impact effective tax rate | 2,000,000 | 2,000,000 |
Interest on income taxes accrued | 1,000,000 | 1,000,000 |
Income tax penalties accrued | 0 | |
Federal | ||
Entity Information [Line Items] | ||
Operating loss carryforward | 517,000,000 | |
Windfall tax benefit | 9,000,000 | |
DTE Electric | ||
Entity Information [Line Items] | ||
Income tax receivable from related party | 6,000,000 | 29,000,000 |
State and local net operating loss carry-forwards | 16,000,000 | 0 |
Valuation allowance | 0 | 0 |
Unrecognized tax benefits that would impact effective tax rate | 3,000,000 | 2,000,000 |
Interest on income taxes accrued | $ 1,000,000 | $ 1,000,000 |
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, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Basic Earnings per Share | |||||||||||
Net Income | $ 80 | $ 265 | $ 109 | $ 273 | $ 299 | $ 156 | $ 124 | $ 326 | $ 727 | $ 905 | $ 661 |
Average number of common shares outstanding | 179 | 177 | 175 | ||||||||
Weighted average net restricted shares outstanding | 0 | 0 | 1 | ||||||||
Dividends declared — common shares | $ 508 | $ 475 | $ 453 | ||||||||
Dividends declared — net restricted shares | 2 | 1 | 1 | ||||||||
Total distributed earnings | 510 | 476 | 454 | ||||||||
Net Income less distributed earnings | $ 217 | $ 429 | $ 207 | ||||||||
Distributed (dividends per common share) (in dollars per share) | $ 2.84 | $ 2.69 | $ 2.59 | ||||||||
Undistributed (in dollars per share) | 1.21 | 2.42 | 1.17 | ||||||||
Total Basic Earnings per Common Share (in dollars per share) | $ 0.45 | $ 1.47 | $ 0.61 | $ 1.53 | $ 1.68 | $ 0.88 | $ 0.70 | $ 1.84 | $ 4.05 | $ 5.11 | $ 3.76 |
Diluted Earnings per Share | |||||||||||
Net Income | $ 80 | $ 265 | $ 109 | $ 273 | $ 299 | $ 156 | $ 124 | $ 326 | $ 727 | $ 905 | $ 661 |
Average number of common shares outstanding | 179 | 177 | 175 | ||||||||
Weighted average net restricted shares outstanding | 0 | 0 | 1 | ||||||||
Dividends declared — common shares | $ 508 | $ 475 | $ 453 | ||||||||
Dividends declared — net restricted shares | 2 | 1 | 1 | ||||||||
Total distributed earnings | 510 | 476 | 454 | ||||||||
Net income less distributed earnings | $ 217 | $ 429 | $ 207 | ||||||||
Distributed (dividends per common share) (in dollars per share) | $ 2.84 | $ 2.69 | $ 2.59 | ||||||||
Undistributed (in dollars per share) | 1.21 | 2.41 | 1.17 | ||||||||
Total Diluted Earnings per Common Share (in dollars per share) | $ 0.45 | $ 1.47 | $ 0.61 | $ 1.53 | $ 1.68 | $ 0.88 | $ 0.70 | $ 1.84 | $ 4.05 | $ 5.10 | $ 3.76 |
Fair Value (Assets and Liabilit
Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Derivative Asset [Abstract] | ||
Derivative asset, gross | $ 711 | $ 1,178 |
Derivative asset, Netting | (528) | (1,006) |
Derivative assets, net | 183 | 172 |
Liabilities [Abstract] | ||
Derivative Liabilities | (705) | (1,110) |
Derivative liability, netting | 562 | 1,025 |
Derivative Liabilities, net | (143) | (85) |
Current Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (521) | (1,041) |
Noncurrent Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (184) | (69) |
Natural Gas | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 387 | 787 |
Derivative asset, Netting | (285) | (681) |
Derivative assets, net | 102 | 106 |
Liabilities [Abstract] | ||
Derivative Liabilities | (383) | (718) |
Derivative liability, netting | 294 | 679 |
Derivative Liabilities, net | (89) | (39) |
Electricity | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 307 | 342 |
Derivative asset, Netting | (232) | (280) |
Derivative assets, net | 75 | 62 |
Liabilities [Abstract] | ||
Derivative Liabilities | (305) | (342) |
Derivative liability, netting | 253 | 298 |
Derivative Liabilities, net | (52) | (44) |
Other | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 5 | 45 |
Derivative asset, Netting | (2) | (42) |
Derivative assets, net | 3 | 3 |
Liabilities [Abstract] | ||
Derivative Liabilities | (10) | (45) |
Derivative liability, netting | 8 | 45 |
Derivative Liabilities, net | (2) | 0 |
Other derivative contracts | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 12 | 4 |
Derivative asset, Netting | (9) | (3) |
Derivative assets, net | 3 | 1 |
Liabilities [Abstract] | ||
Derivative Liabilities | (7) | (5) |
Derivative liability, netting | 7 | 3 |
Derivative Liabilities, net | 0 | (2) |
Recurring | ||
Assets [Abstract] | ||
Cash equivalents | 16 | 112 |
Nuclear decommissioning trusts | 1,236 | 1,241 |
Other Investments | 149 | 150 |
Derivative Asset [Abstract] | ||
Derivative asset, Netting | (528) | (1,006) |
Derivative assets, net | 183 | 172 |
Total assets | 1,584 | 1,675 |
Liabilities [Abstract] | ||
Derivative liability, netting | 562 | 1,025 |
Derivative Liabilities, net | (143) | (85) |
Net Assets (Liabilities) at the end of the period | 1,441 | 1,590 |
Net Assets (Liabilities) at the end of the period, netting | 34 | 19 |
Recurring | Current Asset | ||
Derivative Asset [Abstract] | ||
Derivative asset, Netting | (441) | (955) |
Total assets | 145 | 240 |
Recurring | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Derivative asset, Netting | (87) | (51) |
Total assets | 1,439 | 1,435 |
Recurring | Current Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative liability, netting | 464 | 964 |
Derivative Liabilities, net | (57) | (77) |
Recurring | Noncurrent Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative liability, netting | 98 | 61 |
Derivative Liabilities, net | (86) | (8) |
Recurring | Restricted Assets | ||
Assets [Abstract] | ||
Cash equivalents | 8 | 105 |
Recurring | Other Investments | ||
Assets [Abstract] | ||
Cash equivalents | 8 | 7 |
Recurring | Natural Gas | ||
Derivative Asset [Abstract] | ||
Derivative asset, Netting | (285) | (681) |
Derivative assets, net | 102 | 106 |
Liabilities [Abstract] | ||
Derivative liability, netting | 294 | 679 |
Derivative Liabilities, net | (89) | (39) |
Recurring | Electricity | ||
Derivative Asset [Abstract] | ||
Derivative asset, Netting | (232) | (280) |
Derivative assets, net | 75 | 62 |
Liabilities [Abstract] | ||
Derivative liability, netting | 253 | 298 |
Derivative Liabilities, net | (52) | (44) |
Recurring | Other | ||
Derivative Asset [Abstract] | ||
Derivative asset, Netting | (2) | (42) |
Derivative assets, net | 3 | 3 |
Liabilities [Abstract] | ||
Derivative liability, netting | 8 | 45 |
Derivative Liabilities, net | (2) | 0 |
Recurring | Other derivative contracts | ||
Derivative Asset [Abstract] | ||
Derivative asset, Netting | (9) | (3) |
Derivative assets, net | 3 | 1 |
Liabilities [Abstract] | ||
Derivative liability, netting | 7 | 3 |
Derivative Liabilities, net | 0 | (2) |
Recurring | Level 1 | ||
Assets [Abstract] | ||
Cash equivalents | 13 | 13 |
Nuclear decommissioning trusts | 759 | 792 |
Other Investments | 149 | 100 |
Derivative Asset [Abstract] | ||
Derivative asset, gross | 195 | 597 |
Total assets | 1,116 | 1,502 |
Liabilities [Abstract] | ||
Derivative Liabilities | (220) | (610) |
Net Assets (Liabilities) at the end of the period | 896 | 892 |
Recurring | Level 1 | Current Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 174 | 582 |
Recurring | Level 1 | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 942 | 920 |
Recurring | Level 1 | Current Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (174) | (572) |
Recurring | Level 1 | Noncurrent Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (46) | (38) |
Recurring | Level 1 | Natural Gas | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 193 | 555 |
Liabilities [Abstract] | ||
Derivative Liabilities | (218) | (578) |
Recurring | Level 1 | Electricity | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 0 | 0 |
Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Recurring | Level 1 | Other | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 2 | 42 |
Liabilities [Abstract] | ||
Derivative Liabilities | (2) | (32) |
Recurring | Level 1 | Other derivative contracts | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 0 | 0 |
Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
Recurring | Level 2 | ||
Assets [Abstract] | ||
Cash equivalents | 3 | 99 |
Nuclear decommissioning trusts | 477 | 449 |
Other Investments | 0 | 50 |
Derivative Asset [Abstract] | ||
Derivative asset, gross | 342 | 439 |
Total assets | 822 | 1,037 |
Liabilities [Abstract] | ||
Derivative Liabilities | (307) | (382) |
Net Assets (Liabilities) at the end of the period | 515 | 655 |
Recurring | Level 2 | Current Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 284 | 504 |
Recurring | Level 2 | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 538 | 533 |
Recurring | Level 2 | Current Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (260) | (357) |
Recurring | Level 2 | Noncurrent Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (47) | (25) |
Recurring | Level 2 | Natural Gas | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 91 | 140 |
Liabilities [Abstract] | ||
Derivative Liabilities | (57) | (78) |
Recurring | Level 2 | Electricity | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 239 | 295 |
Liabilities [Abstract] | ||
Derivative Liabilities | (243) | (290) |
Recurring | Level 2 | Other | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 0 | 0 |
Liabilities [Abstract] | ||
Derivative Liabilities | 0 | (9) |
Recurring | Level 2 | Other derivative contracts | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 12 | 4 |
Liabilities [Abstract] | ||
Derivative Liabilities | (7) | (5) |
Recurring | Level 3 | ||
Assets [Abstract] | ||
Cash equivalents | 0 | 0 |
Nuclear decommissioning trusts | 0 | 0 |
Other Investments | 0 | 0 |
Derivative Asset [Abstract] | ||
Derivative asset, gross | 174 | 142 |
Total assets | 174 | 142 |
Liabilities [Abstract] | ||
Derivative Liabilities | (178) | (118) |
Net Assets (Liabilities) at the end of the period | (4) | 24 |
Recurring | Level 3 | Current Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 128 | 109 |
Recurring | Level 3 | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 46 | 33 |
Recurring | Level 3 | Current Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (87) | (112) |
Recurring | Level 3 | Noncurrent Derivative Liability | ||
Liabilities [Abstract] | ||
Derivative Liabilities | (91) | (6) |
Recurring | Level 3 | Natural Gas | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 103 | 92 |
Liabilities [Abstract] | ||
Derivative Liabilities | (108) | (62) |
Recurring | Level 3 | Electricity | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 68 | 47 |
Liabilities [Abstract] | ||
Derivative Liabilities | (62) | (52) |
Recurring | Level 3 | Other | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 3 | 3 |
Liabilities [Abstract] | ||
Derivative Liabilities | (8) | (4) |
Recurring | Level 3 | Other derivative contracts | ||
Derivative Asset [Abstract] | ||
Derivative asset, gross | 0 | 0 |
Liabilities [Abstract] | ||
Derivative Liabilities | 0 | 0 |
DTE Electric | ||
Assets [Abstract] | ||
Nuclear decommissioning trusts | 1,236 | 1,241 |
DTE Electric | Recurring | ||
Assets [Abstract] | ||
Cash equivalents | 8 | 104 |
Nuclear decommissioning trusts | 1,236 | 1,241 |
Other Investments | 8 | 147 |
Derivative Asset [Abstract] | ||
Derivative assets, net | 3 | 3 |
Total assets | 1,255 | 1,495 |
DTE Electric | Recurring | Current Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 11 | 107 |
DTE Electric | Recurring | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 1,244 | 1,388 |
DTE Electric | Recurring | Restricted Assets | ||
Assets [Abstract] | ||
Cash equivalents | 96 | |
DTE Electric | Recurring | Other Investments | ||
Assets [Abstract] | ||
Cash equivalents | 8 | |
DTE Electric | Recurring | Level 1 | ||
Assets [Abstract] | ||
Cash equivalents | 5 | 5 |
Nuclear decommissioning trusts | 759 | 792 |
Other Investments | 8 | 97 |
Derivative Asset [Abstract] | ||
Derivative asset, gross | 0 | 0 |
Total assets | 772 | 894 |
DTE Electric | Recurring | Level 1 | Current Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 5 | 5 |
DTE Electric | Recurring | Level 1 | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 767 | 889 |
DTE Electric | Recurring | Level 2 | ||
Assets [Abstract] | ||
Cash equivalents | 3 | 99 |
Nuclear decommissioning trusts | 477 | 449 |
Other Investments | 0 | 50 |
Derivative Asset [Abstract] | ||
Derivative asset, gross | 0 | 0 |
Total assets | 480 | 598 |
DTE Electric | Recurring | Level 2 | Current Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 3 | 99 |
DTE Electric | Recurring | Level 2 | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 477 | 499 |
DTE Electric | Recurring | Level 3 | ||
Assets [Abstract] | ||
Cash equivalents | 0 | 0 |
Nuclear decommissioning trusts | 0 | 0 |
Other Investments | 0 | 0 |
Derivative Asset [Abstract] | ||
Derivative asset, gross | 3 | 3 |
Total assets | 3 | 3 |
DTE Electric | Recurring | Level 3 | Current Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 3 | 3 |
DTE Electric | Recurring | Level 3 | Noncurrent Asset | ||
Derivative Asset [Abstract] | ||
Total assets | 0 | 0 |
Equity | Recurring | Other Investments | ||
Assets [Abstract] | ||
Investments at fair value | $ 149 | $ 150 |
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, 2015 | Dec. 31, 2014 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of December 31 | $ 24 | $ (36) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | (2) |
Total gains (losses): | ||
Included in earnings | (8) | (20) |
Recorded in Regulatory assets/liabilities | 12 | 8 |
Purchases, issuances, and settlements: | ||
Purchases | 2 | 1 |
Issuances | 0 | (3) |
Settlements | (34) | 76 |
Net Assets (Liabilities) as of December 31 | (4) | 24 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (129) | 40 |
Natural Gas | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of December 31 | 30 | (52) |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | (2) |
Total gains (losses): | ||
Included in earnings | (44) | (40) |
Recorded in Regulatory assets/liabilities | 0 | 0 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Settlements | 9 | 124 |
Net Assets (Liabilities) as of December 31 | (5) | 30 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (135) | 35 |
Electricity | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of December 31 | (5) | 13 |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | 0 |
Total gains (losses): | ||
Included in earnings | 44 | 25 |
Recorded in Regulatory assets/liabilities | 0 | 0 |
Purchases, issuances, and settlements: | ||
Purchases | 2 | 1 |
Issuances | 0 | (3) |
Settlements | (35) | (41) |
Net Assets (Liabilities) as of December 31 | 6 | (5) |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 13 | 9 |
Other | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of December 31 | (1) | 3 |
Transfers into Level 3 from Level 2 | 0 | 0 |
Transfers from Level 3 into Level 2 | 0 | 0 |
Total gains (losses): | ||
Included in earnings | (8) | (5) |
Recorded in Regulatory assets/liabilities | 12 | 8 |
Purchases, issuances, and settlements: | ||
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Settlements | (8) | (7) |
Net Assets (Liabilities) as of December 31 | (5) | (1) |
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (7) | (4) |
DTE Electric | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Net Assets (Liabilities) as of December 31 | 3 | 3 |
Total gains (losses): | ||
Recorded in Regulatory assets/liabilities | 12 | 8 |
Purchases, issuances, and settlements: | ||
Settlements | (12) | (8) |
Net Assets (Liabilities) as of December 31 | 3 | 3 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | $ 3 | $ 3 |
Fair Value (Unobservable Inputs
Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details) $ in Millions | Dec. 31, 2015USD ($)$ / MWh$ / MMBTU | Dec. 31, 2014USD ($)$ / MWh$ / MMBTU |
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative asset, gross | $ 711 | $ 1,178 |
Derivative Liabilities | (705) | (1,110) |
Natural Gas | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative asset, gross | 387 | 787 |
Derivative Liabilities | (383) | (718) |
Electricity | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative asset, gross | 307 | 342 |
Derivative Liabilities | $ (305) | $ (342) |
Level 3 | Discounted Cash Flow Valuation Technique | Natural Gas | Minimum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | (1.50) | (2.28) |
Level 3 | Discounted Cash Flow Valuation Technique | Natural Gas | Maximum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | 2.77 | 7.83 |
Level 3 | Discounted Cash Flow Valuation Technique | Natural Gas | Weighted Average | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MMBTU | (0.19) | (0.22) |
Level 3 | Discounted Cash Flow Valuation Technique | Electricity | Minimum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | (11) | (14) |
Level 3 | Discounted Cash Flow Valuation Technique | Electricity | Maximum | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | 14 | 15 |
Level 3 | Discounted Cash Flow Valuation Technique | Electricity | Weighted Average | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Forward basis price | $ / MWh | 2 | 4 |
Recurring | Level 3 | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative asset, gross | $ 174 | $ 142 |
Derivative Liabilities | (178) | (118) |
Recurring | Level 3 | Natural Gas | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative asset, gross | 103 | 92 |
Derivative Liabilities | (108) | (62) |
Recurring | Level 3 | Electricity | ||
Unobservable Input Valuation Techniques [Line Items] | ||
Derivative asset, gross | 68 | 47 |
Derivative Liabilities | $ (62) | $ (52) |
Fair Value (Fair Value of Finan
Fair Value (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Reported Value Measurement | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | $ 32 | $ 41 |
Dividends payable | 131 | 122 |
Short-term borrowings | 499 | 398 |
Long-term debt, excluding capital leases | 9,285 | 8,606 |
Estimate of Fair Value Measurement | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 0 |
Dividends payable | 131 | 122 |
Short-term borrowings | 0 | 0 |
Long-term debt, excluding capital leases | 496 | 489 |
Estimate of Fair Value Measurement | 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 | 499 | 398 |
Long-term debt, excluding capital leases | 8,136 | 8,308 |
Estimate of Fair Value Measurement | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 32 | 41 |
Dividends payable | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt, excluding capital leases | 1,203 | 706 |
DTE Electric | Reported Value Measurement | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 5 | 12 |
Short-term borrowings | 272 | 50 |
Long-term debt, excluding capital leases | 5,624 | 5,259 |
DTE Electric | Estimate of Fair Value Measurement | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt, excluding capital leases | 0 | 0 |
DTE Electric | Estimate of Fair Value Measurement | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 0 |
Short-term borrowings | 272 | 50 |
Long-term debt, excluding capital leases | 5,432 | 5,341 |
DTE Electric | Estimate of Fair Value Measurement | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 5 | 12 |
Short-term borrowings | 0 | 0 |
Long-term debt, excluding capital leases | 545 | 496 |
Affiliated Entity | DTE Electric | Reported Value Measurement | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 8 |
Short-term borrowings | 75 | 84 |
Affiliated Entity | DTE Electric | Estimate of Fair Value Measurement | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 0 |
Short-term borrowings | 0 | 0 |
Affiliated Entity | DTE Electric | Estimate of Fair Value Measurement | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 0 |
Short-term borrowings | 0 | 0 |
Affiliated Entity | DTE Electric | Estimate of Fair Value Measurement | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, excluding capital leases | 0 | 8 |
Short-term borrowings | $ 75 | $ 84 |
Fair Value (Fair Value of Nucle
Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | $ 1,236 | $ 1,241 |
DTE Electric | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 1,236 | 1,241 |
DTE Electric | Fermi 2 | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 1,211 | 1,221 |
DTE Electric | Fermi 1 | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 3 | 3 |
DTE Electric | Low-level radioactive waste | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | 22 | 17 |
DTE Electric | Nuclear Decommissioning Trust Fund | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trust funds | $ 1,236 | $ 1,241 |
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 Trust Fund - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Realized gains | $ 39 | $ 54 | $ 83 |
Realized losses | (33) | (33) | (41) |
Proceeds from sales of securities | $ 885 | $ 1,146 | $ 1,118 |
Fair Value (Fair Value and Unre
Fair Value (Fair Value and Unrealized Gains and Losses for the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Nuclear decommissioning trusts | $ 1,236 | $ 1,241 |
Gross Unrealized Gain | 211 | 225 |
Gross Unrealized Loss | (72) | (41) |
Nuclear Decommissioning Trust Fund | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Equity Securities | 731 | 756 |
Debt Securities | 499 | 474 |
Cash equivalents | 6 | 11 |
Equity Securities, Gross Unrealized Gain | 195 | 204 |
Equity Securities, Gross Unrealized Loss | (68) | (39) |
Debt Securities, Gross Unrealized Gain | 16 | 21 |
Debt Securities, Gross Unrealized Loss | $ (4) | $ (2) |
Fair Value (Details Textuals)
Fair Value (Details Textuals) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Unrealized losses on available for sale securities | $ (11) | $ (7) | |
Trading securities realized gain (loss) | 1 | 14 | $ 22 |
Accumulated Net Unrealized Investment Gain (Loss) | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Unrealized losses on available for sale securities | 0 | 0 | |
DTE Electric | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Unrealized losses on available for sale securities | 0 | (2) | |
Trading securities realized gain (loss) | 1 | 12 | $ 19 |
DTE Electric | Accumulated Net Unrealized Investment Gain (Loss) | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Unrealized losses on available for sale securities | $ 0 | $ 0 | |
DTE Electric | Nuclear Decommissioning Trust Fund | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Average maturity of debt securities | 6 years | 7 years |
Financial and Other Derivativ94
Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 711 | $ 1,178 |
Derivative Liabilities | (705) | (1,110) |
Natural Gas | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 387 | 787 |
Derivative Liabilities | (383) | (718) |
Electricity | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 307 | 342 |
Derivative Liabilities | (305) | (342) |
Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 5 | 45 |
Derivative Liabilities | (10) | (45) |
Not Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 711 | 1,178 |
Derivative Liabilities | (705) | (1,110) |
Not Designated as Hedging Instrument | Foreign currency exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 12 | 4 |
Derivative Liabilities | (7) | (5) |
Not Designated as Hedging Instrument | Natural Gas | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 387 | 787 |
Derivative Liabilities | (383) | (718) |
Not Designated as Hedging Instrument | Electricity | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 307 | 342 |
Derivative Liabilities | (305) | (342) |
Not Designated as Hedging Instrument | Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 5 | 45 |
Derivative Liabilities | (10) | (45) |
Current Derivative Asset | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 570 | 1,083 |
Noncurrent Derivative Asset | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 141 | 95 |
Current Derivative Liability | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (521) | (1,041) |
Noncurrent Derivative Liability | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | (184) | (69) |
DTE Electric | Not Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 3 | 3 |
DTE Electric | Not Designated as Hedging Instrument | Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 3 | $ 3 |
Financial and Other Derivativ95
Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilites) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Offsetting Assets [Line Items] | ||
Derivative Assets | $ 711 | $ 1,178 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (528) | (1,006) |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | 183 | 172 |
Gross Amounts of Recognized Assets (Liabilities) | (705) | (1,110) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 562 | 1,025 |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | (143) | (85) |
Natural Gas | ||
Offsetting Assets [Line Items] | ||
Derivative Assets | 387 | 787 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (285) | (681) |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | 102 | 106 |
Gross Amounts of Recognized Assets (Liabilities) | (383) | (718) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 294 | 679 |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | (89) | (39) |
Electricity | ||
Offsetting Assets [Line Items] | ||
Derivative Assets | 307 | 342 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (232) | (280) |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | 75 | 62 |
Gross Amounts of Recognized Assets (Liabilities) | (305) | (342) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 253 | 298 |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | (52) | (44) |
Other | ||
Offsetting Assets [Line Items] | ||
Derivative Assets | 5 | 45 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (2) | (42) |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | 3 | 3 |
Gross Amounts of Recognized Assets (Liabilities) | (10) | (45) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 8 | 45 |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | (2) | 0 |
Other derivative contracts | ||
Offsetting Assets [Line Items] | ||
Derivative Assets | 12 | 4 |
Gross Amounts Offset in the Consolidated Statements of Financial Position | (9) | (3) |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | 3 | 1 |
Gross Amounts of Recognized Assets (Liabilities) | (7) | (5) |
Gross Amounts Offset in the Consolidated Statements of Financial Position | 7 | 3 |
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position | $ 0 | $ (2) |
Financial and Other Derivativ96
Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Derivative Assets: | ||
Derivative Assets | $ 711,000,000 | $ 1,178,000,000 |
Collateral adjustment | (2,000,000) | 0 |
Derivative Asset, Current | 129,000,000 | 128,000,000 |
Derivative Assets, Noncurrent | 54,000,000 | 44,000,000 |
Derivative Liabilities: | ||
Derivative Liabilities | (705,000,000) | (1,110,000,000) |
Counterparty netting | 36,000,000 | 19,000,000 |
Derivative Liabilities, Current | (57,000,000) | (77,000,000) |
Derivative Liabilities, Noncurrent | (86,000,000) | (8,000,000) |
Current Derivative Asset | ||
Derivative Assets: | ||
Derivative Assets | 570,000,000 | 1,083,000,000 |
Counterparty netting | (441,000,000) | (955,000,000) |
Collateral adjustment | 0 | 0 |
Noncurrent Derivative Asset | ||
Derivative Assets: | ||
Derivative Assets | 141,000,000 | 95,000,000 |
Counterparty netting | (85,000,000) | (51,000,000) |
Collateral adjustment | (2,000,000) | 0 |
Current Derivative Liability | ||
Derivative Liabilities: | ||
Derivative Liabilities | (521,000,000) | (1,041,000,000) |
Collateral adjustment | 441,000,000 | 955,000,000 |
Counterparty netting | 23,000,000 | 9,000,000 |
Noncurrent Derivative Liability | ||
Derivative Liabilities: | ||
Derivative Liabilities | (184,000,000) | (69,000,000) |
Collateral adjustment | 85,000,000 | 51,000,000 |
Counterparty netting | $ 13,000,000 | $ 10,000,000 |
Financial and Other Derivativ97
Financial and Other Derivative Instruments (Effect of Derivatives not Deisgnated as Hedging Instruments on the Consolidated Statement of Operations) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | $ (28) | $ 79 |
Foreign currency exchange contracts | Operating Revenue | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | 3 | (2) |
Natural Gas | Operating Revenue | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | (34) | (30) |
Natural Gas | Fuel, purchased power and gas | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | (44) | (5) |
Electricity | Operating Revenue | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | 54 | 123 |
Other | Operating Revenue | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31, | $ (7) | $ (7) |
Financial and Other Derivativ98
Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details) | Dec. 31, 2015CADMWhMMBTUgal |
Natural Gas | |
Derivative [Line Items] | |
Derivative outstanding, energy | MMBTU | 1,740,824,930 |
Electricity | |
Derivative [Line Items] | |
Derivative outstanding, energy | MWh | 27,668,865 |
Oil (Gallons) | |
Derivative [Line Items] | |
Derivative, Number of Instruments Held | gal | 21,756,000 |
Foreign Currency Exchange (Canadian dollars) | |
Derivative [Line Items] | |
Foreign Currency Exchange (Canadian dollars) | CAD | CAD 72,328,008 |
Financial and Other Derivativ99
Financial and Other Derivative Instruments (Details Textuals) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Letters of credit that could be used to offset net derivative liabilities | $ 7,000,000 | $ 7,000,000 |
Letters of credit received that could be used to offset net derivative assets | 2,000,000 | 5,000,000 |
Cash collateral posted, net of cash collateral received | 37,000,000 | 61,000,000 |
Derivative asset, counterparty netting | 2,000,000 | 0 |
Derivative liability, counterparty netting | 36,000,000 | 19,000,000 |
Cash collateral paid | 6,000,000 | 44,000,000 |
Cash collateral received | 3,000,000 | $ 2,000,000 |
Additional collateral, aggregate fair value | 412,000,000 | |
Derivative net liability position aggregate fair value | 592,000,000 | |
Collateral already posted fair value | 5,000,000 | |
Derivative, net asset position, fair value | 500,000,000 | |
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions | $ 87,000,000 |
Long-Term Debt (Long Term Debt
Long-Term Debt (Long Term Debt Outstanding and Weighted Average Interest Rates) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Other Long-Term Debt, Including Non-Recourse Debt | $ 9,300 | |
DTE Energy Total Long-Term Debt | 8,805 | $ 8,021 |
Less amount due within one year for DTE Energy | (465) | (161) |
Long-term Debt, Excluding Current Maturities | 8,340 | 7,860 |
Less amount due within one year | 0 | (105) |
Securitization bonds, Excluding Current Maturities | 0 | 0 |
DTE Energy Junior Subordinated Debentures | $ 480 | 480 |
6.5% Junior Subordinated Debentures Due 2061 | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Interest rate | 6.50% | |
Maturity date | Dec. 1, 2061 | |
DTE Energy Junior Subordinated Debentures | $ 280 | 280 |
5.25% Junior Subordinated Debentures Due 2062 | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Interest rate | 5.30% | |
Maturity date | Dec. 1, 2062 | |
DTE Energy Junior Subordinated Debentures | $ 200 | 200 |
DTE Energy | DTE Energy Debt, Unsecured | Unsecured Debt | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.40% | |
Maturity start | Jun. 1, 2016 | |
Maturity end | Apr. 15, 2033 | |
Other Long-Term Debt, Including Non-Recourse Debt | $ 1,947 | 1,647 |
DTE Electric | ||
Debt Instrument [Line Items] | ||
Other Long-Term Debt, Including Non-Recourse Debt | 5,635 | |
DTE Energy Total Long-Term Debt | 5,624 | 5,154 |
Less amount due within one year for DTE Energy | (151) | (10) |
Long-term Debt, Excluding Current Maturities | 5,473 | 5,144 |
Less amount due within one year | 0 | (105) |
Securitization bonds, Excluding Current Maturities | $ 0 | 0 |
DTE Electric | DTE Electric Taxable Debt, Principally Secured | Secured Debt | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.40% | |
Maturity start | Mar. 31, 2016 | |
Maturity end | Mar. 15, 2045 | |
Other Long-Term Debt, Including Non-Recourse Debt | $ 5,314 | 4,824 |
DTE Electric | DTE Electric Tax-Exempt Revenue Bonds (b) | Tax-Exempt Revenue Bonds | ||
Debt Instrument [Line Items] | ||
Interest rate | 5.20% | |
Maturity start | Jul. 1, 2020 | |
Maturity end | Dec. 1, 2030 | |
Other Long-Term Debt, Including Non-Recourse Debt | $ 310 | 330 |
DTE Electric | DTE Electric Securitization Bonds | ||
Debt Instrument [Line Items] | ||
Interest rate | 6.60% | |
Maturity date | Mar. 15, 2015 | |
DTE Electric Securitization Bonds | $ 0 | 105 |
DTE Gas | Other Long-Term Debt | ||
Debt Instrument [Line Items] | ||
Other Long-Term Debt, Including Non-Recourse Debt | $ 110 | 121 |
DTE Gas | DTE Gas Taxable Debt, Principally Secured | Secured Debt | ||
Debt Instrument [Line Items] | ||
Interest rate | 4.90% | |
Maturity start | Apr. 15, 2018 | |
Maturity end | Sep. 1, 2045 | |
Other Long-Term Debt, Including Non-Recourse Debt | $ 1,124 | $ 1,099 |
Long-Term Debt (Debt Issuances)
Long-Term Debt (Debt Issuances) (Details) | Dec. 31, 2015USD ($) |
Debt Instrument [Line Items] | |
Amount | $ 965,000,000 |
DTE Electric | Mortgage Bonds | March 3.70% 2045 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.70% |
Amount | $ 500,000,000 |
DTE Energy | Senior Notes | June 3.30% 2022 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.30% |
Amount | $ 300,000,000 |
DTE Gas | Mortgage Bonds | August 3.35% 2027 | |
Debt Instrument [Line Items] | |
Interest Rate | 3.35% |
Amount | $ 40,000,000 |
DTE Gas | Mortgage Bonds | August 4.21% 2045 | |
Debt Instrument [Line Items] | |
Interest Rate | 4.21% |
Amount | $ 125,000,000 |
Long-Term Debt (Debt Redemption
Long-Term Debt (Debt Redemptions) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Debt Instrument, Redemption [Line Items] | |
Amount | $ 286 |
Securitization Bonds | DTE Electric | March 6.62% 2015 | |
Debt Instrument, Redemption [Line Items] | |
Interest Rate | 6.62% |
Amount | $ 105 |
Mortgage Bonds | DTE Electric | March 7.904% 2016 | |
Debt Instrument, Redemption [Line Items] | |
Interest Rate | 7.904% |
Amount | $ 10 |
Senior Notes | DTE Gas | September 5.94% 2015 | |
Debt Instrument, Redemption [Line Items] | |
Interest Rate | 5.94% |
Amount | $ 140 |
Tax-Exempt Revenue Bonds | DTE Electric | December 5.00% 2015 | |
Debt Instrument, Redemption [Line Items] | |
Interest Rate | 5.00% |
Amount | $ 20 |
Other Long-Term Debt | DTE Energy | |
Debt Instrument, Redemption [Line Items] | |
Amount | $ 11 |
Long-Term Debt (Scheduled Debt
Long-Term Debt (Scheduled Debt Maturities) (Details) $ in Millions | Dec. 31, 2015USD ($) |
Maturities of Long-term Debt [Abstract] | |
2,016 | $ 465 |
2,017 | 9 |
2,018 | 407 |
2,019 | 427 |
2,020 | 688 |
2021 and Thereafter | 7,304 |
Long-term Debt, Total | 9,300 |
DTE Electric | |
Maturities of Long-term Debt [Abstract] | |
2,016 | 151 |
2,017 | 0 |
2,018 | 300 |
2,019 | 0 |
2,020 | 632 |
2021 and Thereafter | 4,552 |
Long-term Debt, Total | $ 5,635 |
Long-Term Debt (Details Textual
Long-Term Debt (Details Textuals) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
DTE Energy Junior Subordinated Debentures | $ 480 | $ 480 |
6.5% Junior Subordinated Debentures Due 2061 | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
DTE Energy Junior Subordinated Debentures | $ 280 | 280 |
Interest rate | 6.50% | |
5.25% Junior Subordinated Debentures Due 2062 | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
DTE Energy Junior Subordinated Debentures | $ 200 | $ 200 |
Interest rate | 5.30% |
Preferred and Preference Sec105
Preferred and Preference Securities (Details) | Dec. 31, 2015$ / sharesshares |
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 |
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 |
Short-Term Credit Arrangemen106
Short-Term Credit Arrangements and Borrowings (Details) | Dec. 31, 2015USD ($) |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,070,000,000 |
Amounts outstanding | 629,000,000 |
Net availability | 1,441,000,000 |
DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 1,370,000,000 |
Amounts outstanding | 163,000,000 |
Net availability | 1,207,000,000 |
DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 400,000,000 |
Amounts outstanding | 272,000,000 |
Net availability | 128,000,000 |
DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 300,000,000 |
Amounts outstanding | 194,000,000 |
Net availability | 106,000,000 |
Letter of Credit | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 130,000,000 |
Letter of Credit | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 130,000,000 |
Letter of Credit | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 0 |
Letter of Credit | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 0 |
Letter of Credit | Unsecured letter of credit facility, expiring in February 2017 | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 100,000,000 |
Letter of Credit | Unsecured letter of credit facility, expiring in February 2017 | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 100,000,000 |
Letter of Credit | Unsecured letter of credit facility, expiring in February 2017 | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 0 |
Letter of Credit | Unsecured letter of credit facility, expiring in February 2017 | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 0 |
Letter of Credit | Unsecured letter of credit facility, expiring in September 2017 | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 70,000,000 |
Letter of Credit | Unsecured letter of credit facility, expiring in September 2017 | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 70,000,000 |
Letter of Credit | Unsecured letter of credit facility, expiring in September 2017 | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 0 |
Letter of Credit | Unsecured letter of credit facility, expiring in September 2017 | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 0 |
Revolving Credit Facility | Unsecured revolving credit facility, expiring April 2020 | |
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 2020 | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 1,200,000,000 |
Revolving Credit Facility | Unsecured revolving credit facility, expiring April 2020 | 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 2020 | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | 300,000,000 |
Commercial Paper | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 499,000,000 |
Commercial Paper | DTE Energy | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 33,000,000 |
Commercial Paper | DTE Electric | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | 272,000,000 |
Commercial Paper | DTE Gas | |
Line Of Credit Facility [Line Items] | |
Amounts outstanding | $ 194,000,000 |
Short-Term Credit Arrangemen107
Short-Term Credit Arrangements and Borrowings (Details Textuals) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 629,000,000 | |
Weighted average interest rate | 0.60% | 0.40% |
Dividend restriction | $ 920,000,000 | |
Retained earnings | 4,794,000,000 | $ 4,578,000,000 |
Effective limitations | $ 0 | |
Maximum | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.65 | |
DTE Energy | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.51 | |
Other outstanding letters of credit | $ 163,000,000 | |
DTE Electric | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.51 | |
Other outstanding letters of credit | $ 272,000,000 | |
Weighted average interest rate | 0.70% | 0.50% |
Retained earnings | $ 1,585,000,000 | $ 1,436,000,000 |
DTE Gas | ||
Short-term Debt [Line Items] | ||
Total funded debt to capitalization ratio | 0.48 | |
Letter of Credit | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | $ 130,000,000 | |
Letter of Credit | DTE Energy | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | 130,000,000 | |
Letter of Credit | DTE Electric | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | 0 | |
Demand Financing Agreement | DTE Energy | ||
Short-term Debt [Line Items] | ||
Maximum borrowing capacity | 100,000,000 | |
Additional margin financing | 50,000,000 | |
Amount outstanding | 103,000,000 | $ 37,000,000 |
Demand Financing Agreement Plus Letter of Credit | DTE Energy | ||
Short-term Debt [Line Items] | ||
Maximum borrowing capacity | 125,000,000 | |
Other outstanding letters of credit | Letter of Credit | DTE Energy | ||
Short-term Debt [Line Items] | ||
Other outstanding letters of credit | 17,000,000 | |
Demand Financing Agreement | Letter of Credit | DTE Energy | ||
Short-term Debt [Line Items] | ||
Maximum borrowing capacity | $ 25,000,000 |
Capital and Operating Leases (F
Capital and Operating Leases (Future Minimum Lease Payments under Non-Cancelable Leases) (Details) $ in Millions | Dec. 31, 2015USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,016 | $ 37 |
2,017 | 30 |
2,018 | 25 |
2,019 | 21 |
2,020 | 13 |
Thereafter | 71 |
Total minimum lease payments | 197 |
DTE Electric | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,016 | 24 |
2,017 | 18 |
2,018 | 15 |
2,019 | 14 |
2,020 | 10 |
Thereafter | 35 |
Total minimum lease payments | $ 116 |
Capital and Operating (Componen
Capital and Operating (Components of the Net Investment in the Capital Leases) (Details) $ in Millions | Dec. 31, 2015USD ($) |
Capital Leases of Lessor [Abstract] | |
2,016 | $ 13 |
2,017 | 13 |
2,018 | 13 |
2,019 | 10 |
2,020 | 9 |
Thereafter | 0 |
Total minimum future lease receipts | 58 |
Residual value of leased pipeline | 40 |
Less unearned income | (27) |
Net investment in capital lease | 71 |
Less current portion | (6) |
Capital Lease, noncurrent | $ 65 |
Capital and Operating Leases (D
Capital and Operating Leases (Details Textuals) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Lessor Capital Leases [Line Items] | |||
Rent expense | $ 43 | $ 38 | $ 34 |
DTE Electric | |||
Schedule of Lessor Capital Leases [Line Items] | |||
Rent expense | $ 32 | $ 26 | $ 28 |
Pipeline System Lease | |||
Schedule of Lessor Capital Leases [Line Items] | |||
Lessor capital lease renewal terms | 5 years | ||
Percent ownership in pipeline | 40.00% | ||
Minimum | Energy Services Agreement | |||
Schedule of Lessor Capital Leases [Line Items] | |||
Lessor capital lease renewal terms | 3 years | ||
Maximum | Energy Services Agreement | |||
Schedule of Lessor Capital Leases [Line Items] | |||
Lessor capital lease renewal terms | 5 years |
Commitments and Contingencie111
Commitments and Contingencies (Purchase Commitments) (Details) $ in Millions | Dec. 31, 2015USD ($) |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2,016 | $ 2,038 |
2,017 | 1,160 |
2,018 | 611 |
2,019 | 397 |
2,020 | 353 |
2021 and thereafter | 3,043 |
Total Purchase Commitments | 7,602 |
DTE Electric | |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2,016 | 493 |
2,017 | 412 |
2,018 | 240 |
2,019 | 120 |
2,020 | 88 |
2021 and thereafter | 992 |
Total Purchase Commitments | $ 2,345 |
Commitments and Contingencie112
Commitments and Contingencies (Details Textuals) | May. 16, 2014kWh | Nov. 30, 2015USD ($)states | May. 15, 2014$ / MWh | Dec. 31, 2015USD ($)employeefacilitiesdte_instances | Dec. 31, 2010dte_instances | Dec. 31, 2014USD ($) |
Loss Contingencies [Line Items] | ||||||
Number of states containing power plants | states | 23 | |||||
Number of NOVs received | dte_instances | 2 | |||||
Fine related to consent order and agreement with Allegheny County related to NOV | $ 300,000 | |||||
Estimated expenditures for a supplemental environmental project to enhance particulate collection efficiency | 300,000 | |||||
Sulfur dioxide ambient air quality standard finalized | 1 hour | |||||
Estimated future capital expenditures for next year | $ 2,700,000,000 | |||||
DTE Electric | ||||||
Loss Contingencies [Line Items] | ||||||
Number of power plants in violation | facilities | 5 | |||||
Number of NOVs/FOVs currently being discussed with the EPA | dte_instances | 2 | |||||
Amount spent to comply with requirements | $ 2,300,000,000 | |||||
Estimated capital expenditures in next fiscal year | $ 40,000,000 | |||||
Number of former MGP sites | facilities | 3 | |||||
Accrued for remediation related to the sites | $ 8,000,000 | $ 10,000,000 | ||||
Number of permitted engineered coal ash storage facilities owned | facilities | 3 | |||||
Time period to complete studies on cooling water intake structures impacts on fish - EPA ruling (in years) | 7 years | |||||
Waiting period of policy (in weeks) | 84 days | |||||
Aggregate coverage amount | $ 490,000,000 | |||||
Coverage period (in years) | 3 years | |||||
Primary coverage | $ 1,500,000,000 | |||||
Excess coverage for stabilization | 1,250,000,000 | |||||
Coverage maximum for property damage | 2,750,000,000 | |||||
Maximum damages for non-nuclear event | 2,000,000,000 | |||||
Aggregate coverage for extra expense | $ 328,000,000 | |||||
Extra expense coverage period (in years) | 2 years | |||||
Maximum time after the first loss from terrorism (in years) | 1 year | |||||
Maximum NEIL policies against terroism loss | $ 3,200,000,000 | |||||
Maximum assessments | 45,000,000 | |||||
Public liability insurance | 375,000,000 | |||||
Industry aggregate limit | 300,000,000 | |||||
Maximum deferred premium charges | 127,000,000 | |||||
Maximum amount per year per facility | 19,000,000 | |||||
Fee amount (mill per kWh) | $ / MWh | 1 | |||||
Reduction in fee | kWh | 0 | |||||
Estimated future capital expenditures for next year | $ 1,600,000,000 | |||||
DTE Gas | ||||||
Loss Contingencies [Line Items] | ||||||
Number of former MGP sites | facilities | 14 | |||||
Accrued for remediation related to the sites | $ 22,000,000 | $ 24,000,000 | ||||
Amortization period for MGP costs (in years) | 10 years | |||||
Synthetic Fuel | ||||||
Loss Contingencies [Line Items] | ||||||
Number of days after expiration | 90 days | |||||
Potential liability | $ 850,000,000 | |||||
Reduced Emissions Fuel Guarantees | ||||||
Loss Contingencies [Line Items] | ||||||
Number of days after expiration | 90 days | |||||
Potential liability | $ 268,000,000 | |||||
Guarantee Type, Other | ||||||
Loss Contingencies [Line Items] | ||||||
Potential liability | 56,000,000 | |||||
Surety Bond | ||||||
Loss Contingencies [Line Items] | ||||||
Performance bonds outstanding | $ 55,000,000 | |||||
Represented Employees | ||||||
Loss Contingencies [Line Items] | ||||||
Number of represented employees | employee | 4,900 | |||||
Represented Employees | DTE Electric | ||||||
Loss Contingencies [Line Items] | ||||||
Number of represented employees | employee | 2,600 | |||||
Cleanup completed and site closed | DTE Gas | ||||||
Loss Contingencies [Line Items] | ||||||
Number of former MGP sites | facilities | 5 | |||||
Partial closure expected by end of fiscal year | DTE Gas | ||||||
Loss Contingencies [Line Items] | ||||||
Number of former MGP sites | facilities | 2 | |||||
Coal Combustion Residual Rule | DTE Electric | ||||||
Loss Contingencies [Line Items] | ||||||
Cost associated with building new facilities | $ 290,000,000 |
Retirement Benefits and Trus113
Retirement Benefits and Trusteed Assets (Pension Plan - Pension Cost Inclusions) (Details) - Pension Plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | $ 100 | $ 83 | $ 94 |
Interest cost | 210 | 212 | 192 |
Expected return on plan assets | (296) | (273) | (266) |
Amortization of net actuarial loss | 205 | 157 | 208 |
Special termination benefits | 2 | 0 | 0 |
Net cost (credit) | 221 | 179 | 228 |
DTE Electric | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 77 | 64 | 73 |
Interest cost | 160 | 162 | 146 |
Expected return on plan assets | (210) | (194) | (184) |
Amortization of net actuarial loss | 147 | 110 | 148 |
Prior service cost | 1 | 2 | 1 |
Special termination benefits | 1 | 0 | 0 |
Net cost (credit) | $ 176 | $ 144 | $ 184 |
Retirement Benefits and Trus114
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, 2015 | Dec. 31, 2014 | |
Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial loss | $ 19 | $ 805 |
Amortization of net actuarial loss | (205) | (157) |
Prior service credit | 0 | (7) |
Total recognized in Regulatory assets and Other comprehensive income (loss) | (186) | 641 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | 35 | 820 |
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 | 162 | 206 |
DTE Electric | ||
Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss) | ||
Net actuarial loss | (13) | 614 |
Amortization of net actuarial loss | (147) | (110) |
Prior service credit | 0 | (2) |
Amortization of prior service cost | (1) | (2) |
Total recognized in Regulatory assets and Other comprehensive income (loss) | (161) | 500 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | 15 | 644 |
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 | 115 | 149 |
Future amortization of prior service cost into net periodic benefit cost | $ 1 | $ 1 |
Retirement Benefits and Trus115
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, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Regulatory Assets | $ 3,724 | $ 3,727 | |
Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] | |||
Accumulated benefit obligation, end of year | 4,569 | 4,853 | |
Change in accumulated postretirement benefit obligation | |||
Projected benefit obligation, beginning of year | 5,269 | 4,380 | |
Service cost | 100 | 83 | $ 94 |
Interest cost | 210 | 212 | 192 |
Plan amendments | 0 | (7) | |
Actuarial (gain) loss | (357) | 836 | |
Transfer due to plan sponsorship change | 0 | 0 | |
Special termination benefits | 2 | 0 | |
Benefits paid | (253) | (235) | |
Projected benefit obligation, end of year | 4,971 | 5,269 | 4,380 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Plan assets at fair value, beginning of year | 3,981 | 3,720 | |
Actual return on plan assets | (79) | 301 | |
Company contributions | 183 | 195 | |
Benefits paid | (253) | (235) | |
Plan assets at fair value, end of year | 3,832 | 3,981 | 3,720 |
Funded status of the plans | (1,139) | (1,288) | |
Amount recorded as: | |||
Current liabilities | (6) | (8) | |
Noncurrent liabilities | (1,133) | (1,280) | |
Defined benefit plans liabilities | (1,139) | (1,288) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | 180 | 194 | |
Prior service credit | (1) | (1) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 179 | 193 | |
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Net actuarial loss | 2,113 | 2,285 | |
Prior service credit | (1) | (1) | |
Regulatory Assets | 2,112 | 2,284 | |
Qualified Pension Plan | |||
Change in accumulated postretirement benefit obligation | |||
Service cost | 100 | 83 | |
Interest cost | 210 | 212 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Company contributions | 177 | ||
DTE Electric | |||
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Regulatory Assets | 2,986 | 2,959 | |
DTE Electric | Pension Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] | |||
Accumulated benefit obligation, end of year | 3,401 | 3,712 | |
Change in accumulated postretirement benefit obligation | |||
Projected benefit obligation, beginning of year | 4,018 | 3,341 | |
Service cost | 77 | 64 | 73 |
Interest cost | 160 | 162 | 146 |
Plan amendments | 0 | (2) | |
Actuarial (gain) loss | (273) | 634 | |
Transfer due to plan sponsorship change | (99) | 0 | |
Special termination benefits | 0 | 0 | |
Benefits paid | (192) | (181) | |
Projected benefit obligation, end of year | 3,685 | 4,018 | 3,341 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Plan assets at fair value, beginning of year | 2,812 | 2,632 | |
Actual return on plan assets | (56) | 212 | |
Company contributions | 145 | 149 | |
Benefits paid | (192) | (181) | |
Plan assets at fair value, end of year | 2,709 | 2,812 | $ 2,632 |
Funded status of the plans | (976) | (1,206) | |
Amount recorded as: | |||
Current liabilities | 0 | (6) | |
Noncurrent liabilities | (976) | (1,200) | |
Defined benefit plans liabilities | (976) | (1,206) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | 0 | 44 | |
Prior service credit | 0 | 0 | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 0 | 44 | |
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Net actuarial loss | 1,588 | 1,738 | |
Prior service credit | 4 | 5 | |
Regulatory Assets | 1,592 | 1,743 | |
DTE Electric | Qualified Pension Plan | |||
Change in accumulated postretirement benefit obligation | |||
Service cost | 75 | 64 | |
Interest cost | 156 | $ 162 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Company contributions | $ 145 |
Retirement Benefits and Trus116
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, 2015USD ($) |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | $ 274 |
2,017 | 285 |
2,018 | 297 |
2,019 | 306 |
2,020 | 314 |
2021-2025 | 1,662 |
Total Expected Future Benefit Payments | 3,138 |
DTE Electric | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 213 |
2,017 | 221 |
2,018 | 231 |
2,019 | 238 |
2,020 | 244 |
2021-2025 | 1,279 |
Total Expected Future Benefit Payments | $ 2,426 |
Retirement Benefits and Trus117
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, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Projected benefit obligation | |||
Discount rate | 4.50% | 4.12% | 4.95% |
Rate of compensation increase | 4.65% | 4.65% | 4.20% |
Net pension costs | |||
Discount rate | 4.12% | 4.95% | 4.15% |
Rate of compensation increase | 4.65% | 4.20% | 4.20% |
Expected long-term rate of return on plan assets | 7.75% | 7.75% | 8.25% |
Retirement Benefits and Trus118
Retirement Benefits and Trusteed Assets (Pension Plan - Target Allocations of Plan Assets) (Details) - Pension Plan | 12 Months Ended |
Dec. 31, 2015 | |
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 | 22.00% |
U.S. Small Cap and Mid Cap Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 5.00% |
Non-U.S. Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 20.00% |
Fixed Income Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 25.00% |
Hedge Funds and Similar Investments | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 20.00% |
Private Equity and Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 8.00% |
Retirement Benefits and Trus119
Retirement Benefits and Trusteed Assets (Pension Plan - Fair Value Measurements) (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | $ 3,832 | $ 3,981 | $ 3,720 |
Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 23 | 46 | |
U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 842 | 899 | |
U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 219 | 225 | |
Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 761 | 745 | |
Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 1,029 | 1,120 | |
Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 768 | 759 | |
Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 190 | 187 | |
Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (154) | (239) | |
Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 154 | 239 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 1,819 | 1,929 | |
Level 1 | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 23 | 46 | |
Level 1 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 842 | 899 | |
Level 1 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 219 | 225 | |
Level 1 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 510 | 526 | |
Level 1 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 5 | 7 | |
Level 1 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 220 | 226 | |
Level 1 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 1 | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (129) | (189) | |
Level 1 | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 129 | 189 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 1,371 | 1,427 | |
Level 2 | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 2 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 2 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 2 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 251 | 219 | |
Level 2 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 1,024 | 1,113 | |
Level 2 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 96 | 95 | |
Level 2 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 2 | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (25) | (50) | |
Level 2 | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 25 | 50 | |
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 642 | 625 | 565 |
Level 3 | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 3 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 3 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 3 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 3 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 3 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 452 | 438 | 395 |
Level 3 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 190 | 187 | 170 |
Level 3 | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Level 3 | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 2,709 | 2,812 | 2,632 |
DTE Electric | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 16 | 33 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 599 | 638 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 157 | 162 | |
DTE Electric | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 545 | 535 | |
DTE Electric | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 703 | 763 | |
DTE Electric | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 552 | 546 | |
DTE Electric | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 137 | 135 | |
DTE Electric | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (111) | (172) | |
DTE Electric | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 111 | 172 | |
DTE Electric | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 1,301 | 1,379 | |
DTE Electric | Level 1 | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 16 | 33 | |
DTE Electric | Level 1 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 599 | 638 | |
DTE Electric | Level 1 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 157 | 162 | |
DTE Electric | Level 1 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 367 | 378 | |
DTE Electric | Level 1 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 4 | 5 | |
DTE Electric | Level 1 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 158 | 163 | |
DTE Electric | Level 1 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 1 | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (93) | (136) | |
DTE Electric | Level 1 | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 93 | 136 | |
DTE Electric | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 946 | 983 | |
DTE Electric | Level 2 | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 2 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 2 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 2 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 178 | 157 | |
DTE Electric | Level 2 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 699 | 758 | |
DTE Electric | Level 2 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 69 | 68 | |
DTE Electric | Level 2 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 2 | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (18) | (36) | |
DTE Electric | Level 2 | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 18 | 36 | |
DTE Electric | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 462 | 450 | 407 |
DTE Electric | Level 3 | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 3 | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 3 | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 3 | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 3 | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 3 | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 325 | 315 | 285 |
DTE Electric | Level 3 | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 137 | 135 | $ 122 |
DTE Electric | Level 3 | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Level 3 | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | $ 0 | $ 0 |
Retirement Benefits and Trus120
Retirement Benefits and Trusteed Assets (Pension Plan - Fair Value Measurement using Level 3 Inputs) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | $ (129) | $ 40 |
Pension Plan | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 3,981 | 3,720 |
Total realized/unrealized gains (losses) | (79) | 301 |
Plan assets at fair value, end of year | 3,832 | 3,981 |
Pension Plan | Level 3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 625 | 565 |
Total realized/unrealized gains (losses) | 20 | 38 |
Purchases | 36 | 53 |
Sales | (39) | (31) |
Plan assets at fair value, end of year | 642 | 625 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 7 | 32 |
Pension Plan | Hedge Funds and Similar Investments | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 759 | |
Plan assets at fair value, end of year | 768 | 759 |
Pension Plan | Hedge Funds and Similar Investments | Level 3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 438 | 395 |
Total realized/unrealized gains (losses) | 10 | 22 |
Purchases | 4 | 22 |
Sales | 0 | (1) |
Plan assets at fair value, end of year | 452 | 438 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 10 | 21 |
Pension Plan | Private Equity and Other | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 187 | |
Plan assets at fair value, end of year | 190 | 187 |
Pension Plan | Private Equity and Other | Level 3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 187 | 170 |
Total realized/unrealized gains (losses) | 10 | 16 |
Purchases | 32 | 31 |
Sales | (39) | (30) |
Plan assets at fair value, end of year | 190 | 187 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | (3) | 11 |
DTE Electric | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 3 | 3 |
DTE Electric | Pension Plan | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 2,812 | 2,632 |
Total realized/unrealized gains (losses) | (56) | 212 |
Plan assets at fair value, end of year | 2,709 | 2,812 |
DTE Electric | Pension Plan | Level 3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 450 | 407 |
Total realized/unrealized gains (losses) | 14 | 27 |
Purchases | 26 | 38 |
Sales | (28) | (22) |
Plan assets at fair value, end of year | 462 | 450 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 5 | 23 |
DTE Electric | Pension Plan | Hedge Funds and Similar Investments | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 546 | |
Plan assets at fair value, end of year | 552 | 546 |
DTE Electric | Pension Plan | Hedge Funds and Similar Investments | Level 3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 315 | 285 |
Total realized/unrealized gains (losses) | 7 | 15 |
Purchases | 3 | 16 |
Sales | 0 | (1) |
Plan assets at fair value, end of year | 325 | 315 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 7 | 15 |
DTE Electric | Pension Plan | Private Equity and Other | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 135 | |
Plan assets at fair value, end of year | 137 | 135 |
DTE Electric | Pension Plan | Private Equity and Other | Level 3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 135 | 122 |
Total realized/unrealized gains (losses) | 7 | 12 |
Purchases | 23 | 22 |
Sales | (28) | (21) |
Plan assets at fair value, end of year | 137 | 135 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | $ (2) | $ 8 |
Retirement Benefits and Trus121
Retirement Benefits and Trusteed Assets (OPEB - Postretirement Cost Inclusions) (Details) - Other Postretirement Benefit Plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 34 | $ 34 | $ 47 |
Interest cost | 81 | 89 | 88 |
Expected return on plan assets | (131) | (122) | (110) |
Amortization of net actuarial loss | 43 | 20 | 64 |
Prior service cost | (126) | (144) | (131) |
Net cost (credit) | (99) | (123) | (42) |
DTE Electric | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 25 | 26 | 35 |
Interest cost | 62 | 68 | 67 |
Expected return on plan assets | (90) | (85) | (74) |
Amortization of net actuarial loss | 31 | 14 | 47 |
Prior service cost | (95) | (109) | (100) |
Net cost (credit) | $ (67) | $ (86) | $ (25) |
Retirement Benefits and Trus122
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, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | $ (68) | $ 192 |
Amortization of net actuarial loss | (43) | (20) |
Amortization of prior service credit | 126 | 144 |
Total recognized in Regulatory assets and Other comprehensive income (loss) | 15 | 316 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | (84) | 193 |
Net actuarial loss | 32 | 43 |
Prior service credit | (118) | (126) |
DTE Electric | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | (57) | 144 |
Amortization of net actuarial loss | (31) | (14) |
Amortization of prior service credit | 95 | 109 |
Total recognized in Regulatory assets and Other comprehensive income (loss) | 7 | 239 |
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss) | (60) | 153 |
Net actuarial loss | 22 | 31 |
Prior service credit | $ (89) | $ (94) |
Retirement Benefits and Trus123
Retirement Benefits and Trusteed Assets (OPEB - Reconciliation of Obligations, Assets and Funded Status of Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Regulatory Assets | $ 3,724 | $ 3,727 | |
Other Postretirement Benefit Plan | |||
Change in accumulated postretirement benefit obligation | |||
Projected benefit obligation, beginning of year | 2,044 | 1,878 | |
Service cost | 34 | 34 | $ 47 |
Interest cost | 81 | 89 | 88 |
Actuarial (gain) loss | (224) | 131 | |
Benefits paid | (89) | (88) | |
Projected benefit obligation, end of year | 1,846 | 2,044 | 1,878 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value plan asset | 1,617 | 1,528 | 1,527 |
Actual return on plan assets | (25) | 62 | |
Company contributions | 199 | 24 | |
Benefits paid | (85) | (85) | |
Funded status of the plans | (229) | (516) | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Noncurrent assets | 0 | 0 | |
Current liabilities | (1) | (1) | |
Noncurrent liabilities | (228) | (515) | |
Defined benefit plans liabilities | (229) | (516) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | 24 | 34 | |
Prior service credit | (2) | (5) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 22 | 29 | |
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Net actuarial loss | 387 | 488 | |
Prior service credit | (131) | (254) | |
Regulatory Assets | 256 | 234 | |
DTE Electric | |||
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Regulatory Assets | 2,986 | 2,959 | |
DTE Electric | Other Postretirement Benefit Plan | |||
Change in accumulated postretirement benefit obligation | |||
Projected benefit obligation, beginning of year | 1,558 | 1,430 | |
Service cost | 25 | 26 | 35 |
Interest cost | 62 | 68 | 67 |
Actuarial (gain) loss | (166) | 100 | |
Benefits paid | (65) | (66) | |
Projected benefit obligation, end of year | 1,414 | 1,558 | 1,430 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value plan asset | 1,131 | 1,038 | $ 1,061 |
Actual return on plan assets | (19) | 41 | |
Company contributions | 175 | 0 | |
Benefits paid | (63) | (64) | |
Funded status of the plans | (283) | (520) | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Noncurrent assets | 24 | 0 | |
Current liabilities | 0 | 0 | |
Noncurrent liabilities | (307) | (520) | |
Defined benefit plans liabilities | (283) | (520) | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | |||
Net actuarial loss | 0 | 0 | |
Prior service credit | 0 | 0 | |
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax | 0 | 0 | |
Amounts recognized in Regulatory assets (see Note 8 - Regulatory Matters) | |||
Net actuarial loss | 297 | 385 | |
Prior service credit | (99) | (194) | |
Regulatory Assets | $ 198 | $ 191 |
Retirement Benefits and Trus124
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, 2015USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,016 | $ 100 |
2,017 | 105 |
2,018 | 108 |
2,019 | 113 |
2,020 | 116 |
2021-2025 | 621 |
Total Expected Future Benefit Payments | 1,163 |
DTE Electric | |
Defined Benefit Plan Disclosure [Line Items] | |
2,016 | 77 |
2,017 | 81 |
2,018 | 84 |
2,019 | 88 |
2,020 | 90 |
2021-2025 | 476 |
Total Expected Future Benefit Payments | $ 896 |
Retirement Benefits and Trus125
Retirement Benefits and Trusteed Assets (OPEB - Assumptions used in Determining the PBO and Net Pension Costs) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Ultimate health care trend rate | 4.50% | |||||
Other Postretirement Benefit Plan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Discount rate | 4.30% | 4.95% | 4.50% | 4.10% | 4.95% | 4.15% |
Health care trend rate pre- and post- 65 | 6.25% | 7.50% | 7.50% | |||
Health care trend post 65 | 6.75% | 6.50% | 6.50% | |||
Ultimate health care trend rate | 4.50% | 4.50% | ||||
Discount rate (prior to interim remeasurement) | 4.15% | 4.30% | 4.10% | 4.95% | ||
Expected long-term rate of return on plan assets | 8.00% | 8.00% | 8.25% | |||
Health care trend rate pre-65 | 7.50% | 7.50% | ||||
Health care trend post 65 | 6.50% | 6.50% | ||||
Health care trend rate pre- and post- 65 | 7.00% | |||||
Other Postretirement Benefit Plan | Other postretirement benefit costs | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Ultimate health care trend rate | 4.50% | 4.50% | 5.00% |
Retirement Benefits and Trus126
Retirement Benefits and Trusteed Assets (OPEB - Target Allocations of Plan Assets) (Details) - Other Postretirement Benefit Plan | 12 Months Ended |
Dec. 31, 2015 | |
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 | 17.00% |
U.S. Small Cap and Mid Cap Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 4.00% |
Non-U.S. Equity Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 20.00% |
Fixed Income Securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 25.00% |
Hedge Funds and Similar Investments | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 20.00% |
Private Equity and Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target Allocation Percentage of Assets | 14.00% |
Retirement Benefits and Trus127
Retirement Benefits and Trusteed Assets (OPEB - Fair Value Measurements) (Details) - Other Postretirement Benefit Plan - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | $ 1,617 | $ 1,528 | $ 1,527 |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 803 | 765 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 490 | 464 | |
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 324 | 299 | 260 |
Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 7 | 6 | |
Short-term Investments (b) | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 7 | 6 | |
Short-term Investments (b) | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Short-term Investments (b) | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 264 | 266 | |
U.S. Large Capitalization (Cap) Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 264 | 266 | |
U.S. Large Capitalization (Cap) Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
U.S. Large Capitalization (Cap) Equity Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 138 | 149 | |
U.S. Small Cap and Mid Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 138 | 149 | |
U.S. Small Cap and Mid Cap Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
U.S. Small Cap and Mid Cap Equity Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 317 | 281 | |
Non-U.S. Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 262 | 222 | |
Non-U.S. Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 55 | 59 | |
Non-U.S. Equity Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 413 | 375 | |
Fixed Income Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 23 | 15 | |
Fixed Income Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 390 | 360 | |
Fixed Income Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 325 | 320 | |
Hedge Funds and Similar Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 109 | 107 | |
Hedge Funds and Similar Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 45 | 45 | |
Hedge Funds and Similar Investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 171 | 168 | 159 |
Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 153 | 131 | |
Private Equity and Other | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Private Equity and Other | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Private Equity and Other | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 153 | 131 | 101 |
Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (128) | (158) | |
Securities Lending (i) | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (122) | (141) | |
Securities Lending (i) | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (6) | (17) | |
Securities Lending (i) | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 128 | 158 | |
Securities Lending Collateral (i) | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 122 | 141 | |
Securities Lending Collateral (i) | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 6 | 17 | |
Securities Lending Collateral (i) | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 1,131 | 1,038 | 1,061 |
DTE Electric | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 562 | 520 | |
DTE Electric | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 341 | 313 | |
DTE Electric | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 228 | 205 | 182 |
DTE Electric | Short-term Investments (b) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 5 | 4 | |
DTE Electric | Short-term Investments (b) | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 5 | 4 | |
DTE Electric | Short-term Investments (b) | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Short-term Investments (b) | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 183 | 179 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 183 | 179 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | U.S. Large Capitalization (Cap) Equity Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 97 | 102 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 97 | 102 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | U.S. Small Cap and Mid Cap Equity Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Non-U.S. Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 221 | 190 | |
DTE Electric | Non-U.S. Equity Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 184 | 151 | |
DTE Electric | Non-U.S. Equity Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 37 | 39 | |
DTE Electric | Non-U.S. Equity Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Fixed Income Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 289 | 254 | |
DTE Electric | Fixed Income Securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 17 | 11 | |
DTE Electric | Fixed Income Securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 272 | 243 | |
DTE Electric | Fixed Income Securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Hedge Funds and Similar Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 227 | 218 | |
DTE Electric | Hedge Funds and Similar Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 76 | 73 | |
DTE Electric | Hedge Funds and Similar Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 32 | 31 | |
DTE Electric | Hedge Funds and Similar Investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 119 | 114 | 111 |
DTE Electric | Private Equity and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 109 | 91 | |
DTE Electric | Private Equity and Other | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Private Equity and Other | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Private Equity and Other | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 109 | 91 | $ 71 |
DTE Electric | Securities Lending (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (91) | (109) | |
DTE Electric | Securities Lending (i) | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (87) | (98) | |
DTE Electric | Securities Lending (i) | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | (4) | (11) | |
DTE Electric | Securities Lending (i) | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 0 | 0 | |
DTE Electric | Securities Lending Collateral (i) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 91 | 109 | |
DTE Electric | Securities Lending Collateral (i) | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 87 | 98 | |
DTE Electric | Securities Lending Collateral (i) | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | 4 | 11 | |
DTE Electric | Securities Lending Collateral (i) | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value plan asset | $ 0 | $ 0 |
Retirement Benefits and Trus128
Retirement Benefits and Trusteed Assets (OPEB - Fair Value Measurements using Level 3 Inputs) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | $ (129) | $ 40 |
Other Postretirement Benefit Plan | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 1,528 | 1,527 |
Total realized/unrealized gains (losses) | (25) | 62 |
Plan assets at fair value, end of year | 1,617 | 1,528 |
Other Postretirement Benefit Plan | Hedge Funds and Similar Investments | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 320 | |
Plan assets at fair value, end of year | 325 | 320 |
Other Postretirement Benefit Plan | Private Equity and Other | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 131 | |
Plan assets at fair value, end of year | 153 | 131 |
Level 3 | Other Postretirement Benefit Plan | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 299 | 260 |
Total realized/unrealized gains (losses) | 13 | 17 |
Purchases | 45 | 42 |
Sales | (33) | (20) |
Plan assets at fair value, end of year | 324 | 299 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 3 | 15 |
Level 3 | Other Postretirement Benefit Plan | Hedge Funds and Similar Investments | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 168 | 159 |
Total realized/unrealized gains (losses) | 4 | 8 |
Purchases | 11 | 9 |
Sales | (12) | (8) |
Plan assets at fair value, end of year | 171 | 168 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 0 | 7 |
Level 3 | Other Postretirement Benefit Plan | Private Equity and Other | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 131 | 101 |
Total realized/unrealized gains (losses) | 9 | 9 |
Purchases | 34 | 33 |
Sales | (21) | (12) |
Plan assets at fair value, end of year | 153 | 131 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 3 | 8 |
DTE Electric | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 3 | 3 |
DTE Electric | Other Postretirement Benefit Plan | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 1,038 | 1,061 |
Total realized/unrealized gains (losses) | (19) | 41 |
Plan assets at fair value, end of year | 1,131 | 1,038 |
DTE Electric | Other Postretirement Benefit Plan | Hedge Funds and Similar Investments | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 218 | |
Plan assets at fair value, end of year | 227 | 218 |
DTE Electric | Other Postretirement Benefit Plan | Private Equity and Other | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 91 | |
Plan assets at fair value, end of year | 109 | 91 |
DTE Electric | Level 3 | Other Postretirement Benefit Plan | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 205 | 182 |
Total realized/unrealized gains (losses) | 9 | 11 |
Purchases | 37 | 26 |
Sales | (23) | (14) |
Plan assets at fair value, end of year | 228 | 205 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 2 | 10 |
DTE Electric | Level 3 | Other Postretirement Benefit Plan | Hedge Funds and Similar Investments | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 114 | 111 |
Total realized/unrealized gains (losses) | 3 | 5 |
Purchases | 11 | 4 |
Sales | (9) | (6) |
Plan assets at fair value, end of year | 119 | 114 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | 0 | 5 |
DTE Electric | Level 3 | Other Postretirement Benefit Plan | Private Equity and Other | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Plan assets at fair value, beginning of year | 91 | 71 |
Total realized/unrealized gains (losses) | 6 | 6 |
Purchases | 26 | 22 |
Sales | (14) | (8) |
Plan assets at fair value, end of year | 109 | 91 |
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, 2015 and 2014 and reflected in Operating revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations | $ 2 | $ 5 |
Retirement Benefits and Trus129
Retirement Benefits and Trusteed Assets (Schedule of Defined Benefit Plans Disclosures) (Details) - USD ($) $ / shares in Units, $ in Millions | Feb. 17, 2015 | Dec. 31, 2015 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Contribution of common stock to pension plan | $ 200 | ||
Other Postretirement Benefit Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Contribution of common stock to pension plan | $ 117 | ||
VEBA Trust | Other Postretirement Benefit Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Contribution of common stock to pension plan (in shares) | 1,427,835 | ||
Share Price | $ 81.91 | ||
Contribution of common stock to pension plan | $ 117 |
Retirement Benefits and Trus130
Retirement Benefits and Trusteed Assets (Details Textuals) - USD ($) | Feb. 17, 2015 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Defined contribution plan, cost recognized (less than $1 million in 2012) | $ 49,000,000 | $ 48,000,000 | $ 41,000,000 | |||
Contribution of common stock to pension plan | 200,000,000 | |||||
Transfers into Level 3 | 0 | 0 | ||||
Transfers out of Level 3 | 0 | 2,000,000 | ||||
Grantor Trust Balance | 18,000,000 | 18,000,000 | ||||
DTE Electric | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Defined contribution plan, cost recognized (less than $1 million in 2012) | $ 23,000,000 | 24,000,000 | $ 21,000,000 | |||
Retirement Savings Plan | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contribution to employee savings plan | 4.00% | |||||
Retirement Savings Plan | DTE Gas Represented Employees | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contribution to employee savings plan | 8.00% | |||||
Qualified Pension Plan | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | $ 177,000,000 | |||||
Qualified Pension Plan | DTE Electric | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | 145,000,000 | |||||
Pension Plan | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | $ 183,000,000 | $ 195,000,000 | ||||
Expected return on plan assets | 7.75% | |||||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.50% | 4.12% | 4.95% | |||
Transfers into Level 3 | $ 0 | $ 0 | ||||
Transfers out of Level 3 | 0 | 0 | ||||
Pension Plan | DTE Electric | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | 145,000,000 | 149,000,000 | ||||
Pension Plan | Maximum | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Estimated future employer contributions in next fiscal year | 180,000,000 | |||||
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 | 145,000,000 | |||||
Other Postretirement Benefit Plan | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | $ 199,000,000 | $ 24,000,000 | ||||
Expected return on plan assets | 8.00% | |||||
Defined Benefit Plan, Retiree Reimbursement Account, Minimum Age Requirement for Coverage | 65 years | 65 years | ||||
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 | $ 6,000,000 | |||||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 100,000,000 | |||||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | 5,000,000 | |||||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | $ 86,000,000 | |||||
Defined Benefit Plan, Term of Employment Contract | 4 years | |||||
Annual allocation to Retiree Reimbursement Account Per Participant, Retired after January 1, 2013 | $ 3,250 | |||||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.30% | 4.50% | 4.10% | 4.95% | 4.15% | |
Contribution of common stock to pension plan | $ 117,000,000 | |||||
Transfers into Level 3 | 0 | $ 0 | ||||
Transfers out of Level 3 | 0 | 0 | ||||
Other Postretirement Benefit Plan | DTE Electric | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | 175,000,000 | 0 | ||||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 4,000,000 | |||||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 74,000,000 | |||||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | 4,000,000 | |||||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | 64,000,000 | |||||
Other Postretirement Benefit Plan | Maximum | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Estimated future employer contributions in next fiscal year | 20,000,000 | |||||
Retiree Healthcare Plan | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Defined contribution plan, cost recognized (less than $1 million in 2012) | 5,000,000 | 4,000,000 | $ 2,000,000 | |||
Retiree Healthcare Plan | DTE Electric | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Defined contribution plan, cost recognized (less than $1 million in 2012) | 3,000,000 | $ 2,000,000 | $ 1,000,000 | |||
VEBA Trust | Other Postretirement Benefit Plan | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | 82,000,000 | |||||
Contribution of common stock to pension plan | $ 117,000,000 | |||||
VEBA Trust | Other Postretirement Benefit Plan | DTE Electric | ||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||
Company contributions | $ 58,000,000 |
Stock-Based Compensation (Compo
Stock-Based Compensation (Components of Stock Based Compensation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Components of stock based-compensation [Abstract] | |||
Stock-based compensation expense | $ 34 | $ 103 | $ 99 |
Tax benefit | 13 | 40 | 38 |
Stock-based compensation cost capitalized in Property, plant, and equipment | $ 5 | $ 16 | $ 15 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Option Activity) (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($)$ / sharesshares | |
Number of options (in shares): | |
Options outstanding beginning of the year (in shares) | shares | 444,278 |
Exercised (in shares) | shares | (178,017) |
Forfeited or expired (in shares) | shares | (3,979) |
Options outstanding end of the year (in shares) | shares | 262,282 |
Weighted Average Exercise Price (in dollars per share): | |
Options outstanding beginning of the year (in dollars per share) | $ / shares | $ 43.56 |
Exercised (in dollars per share) | $ / shares | 45.07 |
Forfeited or expired (in dollars per share) | $ / shares | 44.72 |
Options outstanding end of the year (in dollars per share) | $ / shares | $ 42.52 |
Outstanding, Intrinsic Value | $ | $ 10 |
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, 2015$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Options (in shares) | shares | 262,282 |
Weighted Average Exercise Price (in dollars per share) | $ 42.52 |
Weighted Average Remaining Contractual Life (Years) | 2 years 9 months 20 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 | 22,083 |
Weighted Average Exercise Price (in dollars per share) | $ 27.70 |
Weighted Average Remaining Contractual Life (Years) | 3 years 1 month 29 days |
$38.01 - $42.00 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower Limit (in dollars per share) | $ 38.01 |
Range of Exercise Prices Upper Limit (in dollars per share) | $ 42 |
Number of Options (in shares) | shares | 80,434 |
Weighted Average Exercise Price (in dollars per share) | $ 41.79 |
Weighted Average Remaining Contractual Life (Years) | 2 years 1 month 29 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 | 116,665 |
Weighted Average Exercise Price (in dollars per share) | $ 43.90 |
Weighted Average Remaining Contractual Life (Years) | 3 years 9 months 15 days |
$45.01 - $50.00 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices Lower Limit (in dollars per share) | $ 45.01 |
Range of Exercise Prices Upper Limit (in dollars per share) | $ 50 |
Number of Options (in shares) | shares | 43,100 |
Weighted Average Exercise Price (in dollars per share) | $ 47.75 |
Weighted Average Remaining Contractual Life (Years) | 1 year 1 month 23 days |
Stock-Based Compensation (Restr
Stock-Based Compensation (Restricted Stock Award Activity) (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of awards vested (in millions) | $ 9 | $ 11 | $ 8 |
Restricted common shares awarded (in shares) | 144,300 | 159,590 | 127,785 |
Weighted average market price of shares awarded (in dollars per share) | $ 83.43 | $ 70.09 | $ 64.72 |
Compensation cost charged against income (in millions) | $ 10 | $ 10 | $ 23 |
Stock Based-Compensation (Stock
Stock Based-Compensation (Stock Awards Activity Rollforward) (Details) - Restricted Stock - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restricted Stock (in shares): | |||
Balance at beginning of the period (in shares) | 416,318 | ||
Grants (in shares) | 144,300 | 159,590 | 127,785 |
Forfeitures (in shares) | (12,721) | ||
Vested and issued (in shares) | (165,453) | ||
Balance at end of period (in shares) | 382,444 | 416,318 | |
Weighted Average Grant Date Fair Value (in dollars per share): | |||
Balance at beginning of period (in dollars per share) | $ 62.82 | ||
Grants (in dollars per share) | 83.43 | $ 70.09 | $ 64.72 |
Forfeitures (in dollars per share) | 74.78 | ||
Vested and issued (in dollars per share) | 55.73 | ||
Balance at end of period (in dollars per share) | $ 73.26 | $ 62.82 |
Stock-Based Compensation (Perfo
Stock-Based Compensation (Performance Share Awards Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation Expense Recorded [Line Items] | |||
Stock-based compensation expense | $ 34 | $ 103 | $ 99 |
Performance Shares | |||
Compensation Expense Recorded [Line Items] | |||
Stock-based compensation expense | 24 | 93 | 77 |
Cash settlements | 13 | 11 | 9 |
Stock settlements | $ 71 | $ 61 | $ 56 |
Stock-Based Compensation (Pe137
Stock-Based Compensation (Performance Share Awards Activity) (Details) - Performance Shares | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Performance Shares (in shares): | |
Balance at beginning of period (in shares) | shares | 1,554,697 |
Grants (in shares) | shares | 467,288 |
Forfeitures (in shares) | shares | (47,067) |
Payouts (in shares) | shares | (532,700) |
Balance at end of period (in shares) | shares | 1,442,218 |
Weighted Average Grant Date Fair Value (in dollars per share): | |
Balance at beginning of period (in dollars per share) | $ / shares | $ 69.32 |
Grants (in dollars per share) | $ / shares | 83.85 |
Forfeitures (in dollars per share) | $ / shares | 76.22 |
Payouts (in dollars per share) | $ / shares | 0 |
Balance at end of period (in dollars per share) | $ / shares | $ 75.85 |
Stock-Based Compensation (Unrec
Stock-Based Compensation (Unrecognized Compensation Costs) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 48 |
Weighted Average to be Recognized | 1 year |
Restricted Stock | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 11 |
Weighted Average to be Recognized | 1 year 1 month 10 days |
Performance Shares | |
Share Based Compensation Unrecognized and Non-Vested Cost [Line Items] | |
Unrecognized Compensation Cost | $ 37 |
Weighted Average to be Recognized | 11 months 18 days |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details Textuals) | 12 Months Ended | ||
Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Authorized limit of common stock shares | 14,500,000 | ||
Performance units price per unit | 1 | ||
Remaining contractual term (in years) | 2 years 9 months 20 days | ||
Options vested (in shares) | 0 | ||
Options grants in period (in shares) | 0 | 0 | 0 |
Options, exercises, intrinsic value | $ | $ 7,000,000 | $ 11,000,000 | $ 12,000,000 |
Stock option expense | $ | $ 0 | 0 | 0 |
Employee Stock Option | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee | 500,000 | ||
Award expiration period | 10 years | ||
Award vesting period | 3 years | ||
Restricted Stock | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee | 150,000 | ||
Award vesting period | 3 years | ||
Compensation cost charged against income (in millions) | $ | $ 10,000,000 | 10,000,000 | 23,000,000 |
Performance Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee | 300,000 | ||
Award vesting period | 3 years | ||
Performance Unit | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum award per employee | 1,000,000 | ||
DTE Electric | DTE Energy | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation cost charged against income (in millions) | $ | $ 21,000,000 | $ 62,000,000 | $ 58,000,000 |
Segment and Related Informat140
Segment and Related Information (Details Textuals) customer in Millions | Dec. 31, 2015customer |
Segment Reporting [Abstract] | |
Number of electric utility customers | 2.2 |
Number of gas utility customers | 1.2 |
Segment and Related Informat141
Segment and Related Information (Financial Data) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | $ 6,238 | $ 6,884 | $ 6,643 | ||||||||
Operating Revenues | $ 2,487 | $ 2,598 | $ 2,268 | $ 2,984 | $ 3,078 | $ 2,595 | $ 2,698 | $ 3,930 | 10,337 | 12,301 | 9,661 |
Non-utility operations | 4,099 | 5,417 | 3,018 | ||||||||
Depreciation and amortization | 852 | 1,145 | 1,094 | ||||||||
Interest income | (13) | (10) | (9) | ||||||||
Interest expense | 450 | 429 | 436 | ||||||||
Equity in earnings of equity method investees | 66 | 48 | 59 | ||||||||
Income Tax Expense (Benefit) | 230 | 364 | 254 | ||||||||
Net Income | 80 | $ 265 | $ 109 | $ 273 | 299 | $ 156 | $ 124 | $ 326 | 727 | 905 | 661 |
Investments in equity method investees | 514 | 434 | 514 | 434 | 415 | ||||||
Capital expenditures and acquisitions | 2,261 | 2,049 | 1,876 | ||||||||
Goodwill | 2,018 | 2,018 | 2,018 | 2,018 | 2,018 | ||||||
Total Assets | 28,737 | 27,899 | 28,737 | 27,899 | 25,935 | ||||||
Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Investments in equity method investees | 296 | 224 | 296 | 224 | |||||||
Operating Segments | DTE Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | 4,901 | 5,283 | 5,199 | ||||||||
Non-utility operations | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 637 | 933 | 902 | ||||||||
Interest income | 0 | (1) | (1) | ||||||||
Interest expense | 258 | 250 | 268 | ||||||||
Equity in earnings of equity method investees | 2 | 1 | 1 | ||||||||
Income Tax Expense (Benefit) | 290 | 296 | 252 | ||||||||
Net Income | 542 | 528 | 484 | ||||||||
Investments in equity method investees | 10 | 8 | 10 | 8 | 9 | ||||||
Capital expenditures and acquisitions | 1,785 | 1,561 | 1,325 | ||||||||
Goodwill | 1,208 | 1,208 | 1,208 | 1,208 | 1,208 | ||||||
Total Assets | 19,539 | 18,713 | 19,539 | 18,713 | 17,508 | ||||||
Operating Segments | DTE Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | 1,376 | 1,636 | 1,474 | ||||||||
Non-utility operations | 0 | 0 | 0 | ||||||||
Depreciation and amortization | 104 | 99 | 95 | ||||||||
Interest income | (7) | (7) | (7) | ||||||||
Interest expense | 62 | 57 | 58 | ||||||||
Equity in earnings of equity method investees | 6 | 7 | 6 | ||||||||
Income Tax Expense (Benefit) | 72 | 78 | 77 | ||||||||
Net Income | 132 | 140 | 143 | ||||||||
Investments in equity method investees | 9 | 10 | 9 | 10 | 10 | ||||||
Capital expenditures and acquisitions | 273 | 224 | 209 | ||||||||
Goodwill | 743 | 743 | 743 | 743 | 743 | ||||||
Total Assets | 4,299 | 4,247 | 4,299 | 4,247 | 3,920 | ||||||
Operating Segments | Gas Storage and Pipelines | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | 0 | 0 | 0 | ||||||||
Non-utility operations | 243 | 203 | 132 | ||||||||
Depreciation and amortization | 30 | 34 | 23 | ||||||||
Interest income | (8) | (6) | (7) | ||||||||
Interest expense | 24 | 22 | 18 | ||||||||
Equity in earnings of equity method investees | 47 | 35 | 44 | ||||||||
Income Tax Expense (Benefit) | 70 | 53 | 45 | ||||||||
Net Income | 107 | 82 | 70 | ||||||||
Investments in equity method investees | 296 | 224 | 296 | 224 | 201 | ||||||
Capital expenditures and acquisitions | 161 | 184 | 245 | ||||||||
Goodwill | 24 | 24 | 24 | 24 | 24 | ||||||
Total Assets | 1,047 | 883 | 1,047 | 883 | 823 | ||||||
Operating Segments | Power and Industrial Projects | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | 0 | 0 | 0 | ||||||||
Non-utility operations | 2,224 | 2,289 | 1,950 | ||||||||
Depreciation and amortization | 78 | 77 | 72 | ||||||||
Interest income | (8) | (5) | (6) | ||||||||
Interest expense | 32 | 28 | 27 | ||||||||
Equity in earnings of equity method investees | 8 | 5 | 8 | ||||||||
Income Tax Expense (Benefit) | (140) | (100) | (45) | ||||||||
Net Income | 16 | 90 | 66 | ||||||||
Investments in equity method investees | 183 | 184 | 183 | 184 | 189 | ||||||
Capital expenditures and acquisitions | 36 | 77 | 93 | ||||||||
Goodwill | 26 | 26 | 26 | 26 | 26 | ||||||
Total Assets | 860 | 998 | 860 | 998 | 1,054 | ||||||
Operating Segments | Energy Trading | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | 0 | 0 | 0 | ||||||||
Non-utility operations | 2,459 | 3,762 | 1,771 | ||||||||
Depreciation and amortization | 2 | 1 | 1 | ||||||||
Interest income | (2) | 0 | 0 | ||||||||
Interest expense | 6 | 7 | 8 | ||||||||
Equity in earnings of equity method investees | 0 | 0 | 0 | ||||||||
Income Tax Expense (Benefit) | (15) | 77 | (38) | ||||||||
Net Income | (22) | 122 | (58) | ||||||||
Investments in equity method investees | 0 | 0 | 0 | 0 | 0 | ||||||
Capital expenditures and acquisitions | 6 | 3 | 3 | ||||||||
Goodwill | 17 | 17 | 17 | 17 | 17 | ||||||
Total Assets | 590 | 755 | 590 | 755 | 624 | ||||||
Corporate and Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | 0 | 0 | 0 | ||||||||
Non-utility operations | 2 | 2 | 3 | ||||||||
Depreciation and amortization | 1 | 1 | 1 | ||||||||
Interest income | (52) | (48) | (51) | ||||||||
Interest expense | 132 | 122 | 120 | ||||||||
Equity in earnings of equity method investees | 3 | 0 | 0 | ||||||||
Income Tax Expense (Benefit) | (47) | (40) | (37) | ||||||||
Net Income | (48) | (57) | (44) | ||||||||
Investments in equity method investees | 16 | 8 | 16 | 8 | 6 | ||||||
Capital expenditures and acquisitions | 0 | 0 | 1 | ||||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | 3,530 | 3,209 | 3,530 | 3,209 | 2,945 | ||||||
Reclassifications and Eliminations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Utility operations | (39) | (35) | (30) | ||||||||
Operating Revenues | 868 | 874 | 868 | ||||||||
Non-utility operations | (829) | (839) | (838) | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Interest income | 64 | 57 | 63 | ||||||||
Interest expense | (64) | (57) | (63) | ||||||||
Equity in earnings of equity method investees | 0 | 0 | 0 | ||||||||
Income Tax Expense (Benefit) | 0 | 0 | 0 | ||||||||
Net Income | 0 | 0 | 0 | ||||||||
Investments in equity method investees | 0 | 0 | 0 | 0 | 0 | ||||||
Capital expenditures and acquisitions | 0 | 0 | 0 | ||||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | $ (1,128) | $ (906) | (1,128) | (906) | (939) | ||||||
Reclassifications and Eliminations | DTE Electric | Continuing Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 36 | 29 | 26 | ||||||||
Reclassifications and Eliminations | DTE Gas | Continuing Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 3 | 6 | 4 | ||||||||
Reclassifications and Eliminations | Gas Storage and Pipelines | Continuing Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 8 | 9 | 3 | ||||||||
Reclassifications and Eliminations | Power and Industrial Projects | Continuing Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 785 | 794 | 816 | ||||||||
Reclassifications and Eliminations | Energy Trading | Continuing Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 32 | 33 | 43 | ||||||||
Reclassifications and Eliminations | Corporate and Other | Continuing Operations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | $ 4 | $ 3 | $ (24) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Related Party Transaction [Line Items] | |||
Dividends declared | $ 510 | $ 476 | $ 454 |
Dividends paid | 501 | 470 | 445 |
Parent | |||
Related Party Transaction [Line Items] | |||
Dividends declared | 395 | 370 | 342 |
Dividends paid | 395 | 370 | 342 |
Capital contribution from DTE Energy | 300 | 190 | 400 |
DTE Electric | |||
Related Party Transaction [Line Items] | |||
Revenues | 6 | 5 | 7 |
Dividends declared | 395 | 370 | 342 |
Dividends paid | 395 | 370 | 342 |
DTE Electric | Energy sales | |||
Related Party Transaction [Line Items] | |||
Revenue from Related Parties | 2 | 2 | 2 |
DTE Electric | Shared capital assets | |||
Related Party Transaction [Line Items] | |||
Revenue from Related Parties | 33 | 26 | 23 |
DTE Electric | Fuel and purchased power | |||
Related Party Transaction [Line Items] | |||
Costs | 9 | 4 | 4 |
DTE Electric | Other services and interest | |||
Related Party Transaction [Line Items] | |||
Costs | 2 | (1) | (1) |
DTE Electric | Corporate expenses (net) | |||
Related Party Transaction [Line Items] | |||
Costs | $ 334 | $ 304 | $ 334 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
DTE Electric | DTE Energy Foundation | |||
Related Party Transaction [Line Items] | |||
Charitable contributions | $ 0 | $ 0 | $ 18 |
Supplementary Quarterly Fina144
Supplementary Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Entity Information [Line Items] | |||||||||||
Operating Revenues | $ 2,487 | $ 2,598 | $ 2,268 | $ 2,984 | $ 3,078 | $ 2,595 | $ 2,698 | $ 3,930 | $ 10,337 | $ 12,301 | $ 9,661 |
Operating Income | 134 | 440 | 204 | 461 | 542 | 239 | 249 | 560 | 1,239 | 1,590 | 1,203 |
Net Income | $ 80 | $ 265 | $ 109 | $ 273 | $ 299 | $ 156 | $ 124 | $ 326 | $ 727 | $ 905 | $ 661 |
Basic Earnings per Share (in dollars per share) | $ 0.45 | $ 1.47 | $ 0.61 | $ 1.53 | $ 1.68 | $ 0.88 | $ 0.70 | $ 1.84 | $ 4.05 | $ 5.11 | $ 3.76 |
Diluted Earnings per Share (in dollars per share) | $ 0.45 | $ 1.47 | $ 0.61 | $ 1.53 | $ 1.68 | $ 0.88 | $ 0.70 | $ 1.84 | $ 4.05 | $ 5.10 | $ 3.76 |
DTE Electric | |||||||||||
Entity Information [Line Items] | |||||||||||
Operating Revenues | $ 1,165 | $ 1,385 | $ 1,147 | $ 1,203 | $ 1,234 | $ 1,357 | $ 1,281 | $ 1,410 | $ 4,900 | $ 5,282 | $ 5,197 |
Operating Income | 192 | 400 | 214 | 268 | 250 | 272 | 259 | 271 | 1,074 | 1,052 | 1,000 |
Net Income | $ 92 | $ 216 | $ 99 | $ 137 | $ 129 | $ 136 | $ 130 | $ 137 | $ 544 | $ 532 | $ 487 |
Valuation and Qualifying Acc145
Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Allowance for Doubtful Accounts (shown as deduction from Accounts receivable in DTE Energy's Consolidated Statements of Financial Position) | |||
Balance at Beginning of Period | $ 54 | $ 55 | $ 62 |
Charged to costs and expenses | 93 | 95 | 94 |
Charged to other accounts | 14 | 20 | 23 |
Deductions | (112) | (116) | (124) |
Balance at End of Period | 49 | 54 | 55 |
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 | 29 | 28 | 35 |
Charged to costs and expenses | 51 | 50 | 52 |
Charged to other accounts | 6 | 10 | 11 |
Deductions | (58) | (59) | (70) |
Balance at End of Period | $ 28 | $ 29 | $ 28 |