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Property, Plant, and Equipment | 12 Months Ended
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Dec. 31, 2023
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:
| 2023 |  | 2022
Property, plant, and equipment | (In millions)
DTE Electric |  |  |
Zero carbon generation |  |  |
Nuclear | $ | 3,812 |  |  | $ | 3,684 |
Renewables | 3,074 |  |  | 2,567 |
Fossil and other generation | 4,157 |  |  | 8,789 |
Distribution | 13,673 |  |  | 12,502 |
Other | 3,220 |  |  | 3,049 |
Total DTE Electric | 27,936 |  |  | 30,591 |
DTE Gas |  |  |
Distribution | 5,838 |  |  | 5,376 |
Storage | 578 |  |  | 607 |
Transmission and other | 1,613 |  |  | 1,534 |
Total DTE Gas | 8,029 |  |  | 7,517 |
DTE Vantage | 1,075 |  |  | 1,059 |
Other | 234 |  |  | 179 |
Total DTE Energy | $ | 37,274 |  |  | $ | 39,346 |
Accumulated depreciation and amortization |  |  |
DTE Electric |  |  |
Zero carbon generation |  |  |
Nuclear | $ | (479) |  |  | $ | (428) |
Renewables | (524) |  |  | (426) |
Fossil and other generation | (1,393) |  |  | (3,352) |
Distribution | (3,205) |  |  | (3,040) |
Other | (969) |  |  | (849) |
Total DTE Electric | (6,570) |  |  | (8,095) |
DTE Gas |  |  |
Distribution | (1,365) |  |  | (1,330) |
Storage | (132) |  |  | (163) |
Transmission and other | (493) |  |  | (461) |
Total DTE Gas | (1,990) |  |  | (1,954) |
DTE Vantage | (479) |  |  | (469) |
Other | (66) |  |  | (61) |
Total DTE Energy | $ | (9,105) |  |  | $ | (10,579) |
Net DTE Energy Property, plant, and equipment | $ | 28,169 |  |  | $ | 28,767 |
Net DTE Electric Property, plant, and equipment | $ | 21,366 |  |  | $ | 22,496 |
AFUDC and Capitalized Interest AFUDC represents the cost of financing construction projects for regulated businesses, including the estimated cost of debt and authorized return on equity. The debt component is recorded as a reduction to Interest expense and the equity component is recorded as Other income on the Registrants' Consolidated Statements of Operations. Non-regulated businesses record capitalized interest as a reduction to Interest expense. The AFUDC and capitalized interest rates were as follows for the years ended December 31:
| 2023 |  | 2022 |  | 2021
DTE Electric AFUDC | 5.53 | % |  | 5.46 | % |  | 5.46 | %
DTE Gas AFUDC | 5.41 | % |  | 5.41 | % |  | 5.55 | %
Non-regulated businesses capitalized interest | 3.00 | % |  | 3.00 | % |  | 3.30 | %
The following is a summary of AFUDC and interest capitalized for the years ended December 31:
| 2023 |  | 2022 |  | 2021
DTE Energy | (In millions)
Allowance for debt funds used during construction and interest capitalized | $ | 20 |  |  | $ | 13 |  |  | $ | 12 |
Allowance for equity funds used during construction | 42 |  |  | 29 |  |  | 27 |
Total | $ | 62 |  |  | $ | 42 |  |  | $ | 39 |
| 2023 |  | 2022 |  | 2021
DTE Electric | (In millions)
Allowance for debt funds used during construction | $ | 15 |  |  | $ | 11 |  |  | $ | 11 |
Allowance for equity funds used during construction | 40 |  |  | 26 |  |  | 25 |
Total | $ | 55 |  |  | $ | 37 |  |  | $ | 36 |
Depreciation and Amortization The composite depreciation rate for DTE Electric was approximately 4.4% in 2023 and 4.2% in 2022 and 2021. The composite depreciation rate for DTE Gas was 2.9% in 2023, 2022 and 2021. The average estimated useful life for each major class of utility Property, plant, and equipment as of December 31, 2023 follows:
|  | Estimated Useful Lives in Years
Utility |  | Generation |  | Distribution |  | Storage
DTE Electric |  | 34 |  | 38 |  | N/A
DTE Gas |  | N/A |  | 49 |  | 58
The estimated useful lives for DTE Electric's Other utility assets range from 3 to 80 years, while the estimated useful lives for DTE Gas' Transmission and other utility assets range from 3 to 80 years. The estimated useful lives for major classes of DTE Energy's non-utility assets and facilities range from 3 to 50 years. The following is a summary of Depreciation and amortization expense for DTE Energy:
| 2023 |  | 2022 |  | 2021
| (In millions)
Property, plant, and equipment | $ | 1,239 |  |  | $ | 1,148 |  |  | $ | 1,095 |
Regulatory assets and liabilities | 344 |  |  | 297 |  |  | 259 |
Intangible assets | 15 |  |  | 16 |  |  | 16 |
Other | 8 |  |  | 7 |  |  | 7 |
| $ | 1,606 |  |  | $ | 1,468 |  |  | $ | 1,377 |
The following is a summary of Depreciation and amortization expense for DTE Electric:
| 2023 |  | 2022 |  | 2021
| (In millions)
Property, plant, and equipment | $ | 1,029 |  |  | $ | 951 |  |  | $ | 890 |
Regulatory assets and liabilities | 292 |  |  | 248 |  |  | 214 |
Other | 5 |  |  | 5 |  |  | 5 |
| $ | 1,326 |  |  | $ | 1,204 |  |  | $ | 1,109 |
Capitalized Software 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 Statements of Financial Position. 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 both DTE Energy and DTE Electric. The following balances for capitalized software relate to DTE Energy:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Amortization expense of capitalized software | $ | 189 |  |  | $ | 159 |  |  | $ | 145 |
Gross carrying value of capitalized software | $ | 940 |  |  | $ | 796 |  |  |
Accumulated amortization of capitalized software | $ | 427 |  |  | $ | 406 |  |  |
The following balances for capitalized software relate to DTE Electric:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Amortization expense of capitalized software | $ | 172 |  |  | $ | 146 |  |  | $ | 132 |
Gross carrying value of capitalized software | $ | 849 |  |  | $ | 692 |  |  |
Accumulated amortization of capitalized software | $ | 369 |  |  | $ | 343 |  |  |

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