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v3.23.2

Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2023
Accounting Policies [Abstract] |
Schedule of Other Income | The following is a summary of DTE Energy's Other income:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In millions)
Allowance for equity funds used during construction | $ | 9 |  |  | $ | 6 |  |  | $ | 18 |  |  | $ | 14 |
Contract services | 7 |  |  | 7 |  |  | 13 |  |  | 14 |
Investment income(a) | 4 |  |  | — |  |  | 9 |  |  | — |
Equity earnings (losses) of equity method investees | — |  |  | (4) |  |  | 4 |  |  | (15) |
Other | 11 |  |  | 2 |  |  | 13 |  |  | 6 |
| $ | 31 |  |  | $ | 11 |  |  | $ | 57 |  |  | $ | 19 |
_______________________________________ (a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations. The following is a summary of DTE Electric's Other income:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In millions)
Allowance for equity funds used during construction | $ | 8 |  |  | $ | 5 |  |  | $ | 17 |  |  | $ | 12 |
Contract services | 6 |  |  | 7 |  |  | 12 |  |  | 14 |
Investment income(a) | 3 |  |  | — |  |  | 6 |  |  | — |
Other | 3 |  |  | 3 |  |  | 5 |  |  | 5 |
| $ | 20 |  |  | $ | 15 |  |  | $ | 40 |  |  | $ | 31 |
_______________________________________ (a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations.
Schedule of Effective Income Tax Rate Reconciliation | The tables below summarize how the Registrants' effective income tax rates have varied from the statutory federal income tax rate:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
DTE Energy |  |  |  |  |  |  |
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase (decrease) due to: |  |  |  |  |  |  |
State and local income taxes, net of federal benefit | 4.4 |  |  | 11.0 |  |  | 4.4 |  |  | 4.6 |
Production tax credits | (4.4) |  |  | (67.3) |  |  | (5.6) |  |  | (9.6) |
TCJA amortization | (3.1) |  |  | (110.4) |  |  | (3.8) |  |  | (15.8) |
Investment tax credits | (1.4) |  |  | (1.6) |  |  | (2.0) |  |  | (0.2) |
Enactment of West Virginia income tax legislation, net of federal benefit | — |  |  | — |  |  | (0.8) |  |  | — |
State tax audit settlement, net of federal benefit | (1.8) |  |  | — |  |  | (0.6) |  |  | — |
Other | (0.3) |  |  | 0.8 |  |  | (1.1) |  |  | (1.5) |
Effective income tax rate | 14.4 | % |  | (146.5) | % |  | 11.5 | % |  | (1.5) | %
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
DTE Electric |  |  |  |  |  |  |
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase (decrease) due to: |  |  |  |  |  |  |
State and local income taxes, net of federal benefit | 5.7 |  |  | 5.8 |  |  | 5.7 |  |  | 5.8 |
Production tax credits | (8.2) |  |  | (9.0) |  |  | (7.8) |  |  | (9.0) |
TCJA amortization | (5.3) |  |  | (15.4) |  |  | (5.0) |  |  | (15.5) |
State tax audit settlement, net of federal benefit | (2.1) |  |  | — |  |  | (1.3) |  |  | — |
Other | (1.4) |  |  | (0.9) |  |  | (1.2) |  |  | (0.8) |
Effective income tax rate | 9.7 | % |  | 1.5 | % |  | 11.4 | % |  | 1.5 | %
Schedule of Financing Receivables Classified by Internal Grade of Credit Risk | The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk, including current year-to-date gross write-offs, if any. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through June 30, 2023.
| DTE Energy |  | DTE Electric
| Year of Origination
| 2023 |  | 2022 |  | 2021 and Prior |  | Total |  | 2023 and Prior
| (In millions)
Notes receivable |  |  |  |  |  |  |  |  |
Internal grade 1 | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | 6 |  |  | $ | 2 |
Internal grade 2 | 17 |  |  | 70 |  |  | 18 |  |  | 105 |  |  | — |
Total notes receivable(a) | $ | 17 |  |  | $ | 70 |  |  | $ | 24 |  |  | $ | 111 |  |  | $ | 2 |
Net investment in leases |  |  |  |  |  |  |  |  |
Internal grade 1 | $ | — |  |  | $ | — |  |  | $ | 37 |  |  | $ | 37 |  |  | $ | — |
Internal grade 2 | — |  |  | 67 |  |  | 187 |  |  | 254 |  |  | — |
Total net investment in leases(a) | $ | — |  |  | $ | 67 |  |  | $ | 224 |  |  | $ | 291 |  |  | $ | — |
_______________________________________ (a)For DTE Energy and DTE Electric, current portion is included in Current Assets — Other on the respective Consolidated Statements of Financial Position.
Schedule of Roll-Forward of Activity for Financing Receivables Credit Loss Reserves | The following tables present a roll-forward of the activity for the Registrants' financing receivables credit loss reserves:
| DTE Energy |  | DTE Electric
| Trade accounts receivable |  | Other receivables |  |  |  |  |  | Total |  | Trade and other accounts receivable
| (In millions)
Beginning reserve balance, January 1, 2023 | $ | 78 |  |  | $ | 1 |  |  |  |  |  |  | $ | 79 |  |  | $ | 49 |
Current period provision | 34 |  |  | — |  |  |  |  |  |  | 34 |  |  | 17 |
Write-offs charged against allowance | (50) |  |  | — |  |  |  |  |  |  | (50) |  |  | (34) |
Recoveries of amounts previously written off | 20 |  |  | — |  |  |  |  |  |  | 20 |  |  | 13 |
Ending reserve balance, June 30, 2023 | $ | 82 |  |  | $ | 1 |  |  |  |  |  |  | $ | 83 |  |  | $ | 45 |
| DTE Energy |  | DTE Electric
| Trade accounts receivable |  | Other receivables |  |  |  |  |  | Total |  | Trade and other accounts receivable
| (In millions)
Beginning reserve balance, January 1, 2022 | $ | 89 |  |  | $ | 3 |  |  |  |  |  |  | $ | 92 |  |  | $ | 54 |
Current period provision | 49 |  |  | — |  |  |  |  |  |  | 49 |  |  | 33 |
Write-offs charged against allowance | (105) |  |  | (2) |  |  |  |  |  |  | (107) |  |  | (66) |
Recoveries of amounts previously written off | 45 |  |  | — |  |  |  |  |  |  | 45 |  |  | 28 |
Ending reserve balance, December 31, 2022 | $ | 78 |  |  | $ | 1 |  |  |  |  |  |  | $ | 79 |  |  | $ | 49 |
Schedule of Uncollectible Expense | Uncollectible expense for the Registrants is primarily comprised of the current period provision for allowance for doubtful accounts and is summarized as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In millions)
DTE Energy | $ | 13 |  |  | $ | 14 |  |  | $ | 35 |  |  | $ | 34 |
DTE Electric | $ | 9 |  |  | $ | 8 |  |  | $ | 17 |  |  | $ | 16 |

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