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Leases | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Leases | LEASES Lessor During the first quarter 2024, DTE Energy completed construction of and began operating certain energy infrastructure assets under a long-term agreement with a large industrial customer. DTE Energy began leasing these assets to the customer for a 20-year term ending in 2044. DTE Energy has accounted for this arrangement as a finance lease, recognizing a net investment of $119 million as of March 31, 2024. Under the long-term agreement, additional energy infrastructure assets remain under construction and are expected to be completed through the remainder of 2024. The assets will be subsequently leased to the customer and increase the net investment in finance leases accordingly. The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
| DTE Energy
| March 31, 2024
| (In millions)
2024 | $ | 36 |
2025 | 48 |
2026 | 47 |
2027 | 47 |
2028 | 47 |
2029 and Thereafter | 584 |
Total minimum future lease receipts | 809 |
Residual value of leased pipeline | 17 |
Less unearned income | 421 |
Net investment in finance lease | 405 |
Less current portion | 11 |
| $ | 394 |
Interest income recognized under finance leases was $8 million and $7 million for the three months ended March 31, 2024 and 2023, respectively. DTE Energy’s lease income associated with operating leases, included in Operating Revenues — Non-utility operations in the Consolidated Statements of Operations, was as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (In millions)
Fixed payments |  |  |  |  | $ | 4 |  |  | $ | 4 |
Variable payments |  |  |  |  | 10 |  |  | 11 |
|  |  |  |  | $ | 14 |  |  | $ | 15 |
Leases | LEASES Lessor During the first quarter 2024, DTE Energy completed construction of and began operating certain energy infrastructure assets under a long-term agreement with a large industrial customer. DTE Energy began leasing these assets to the customer for a 20-year term ending in 2044. DTE Energy has accounted for this arrangement as a finance lease, recognizing a net investment of $119 million as of March 31, 2024. Under the long-term agreement, additional energy infrastructure assets remain under construction and are expected to be completed through the remainder of 2024. The assets will be subsequently leased to the customer and increase the net investment in finance leases accordingly. The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
| DTE Energy
| March 31, 2024
| (In millions)
2024 | $ | 36 |
2025 | 48 |
2026 | 47 |
2027 | 47 |
2028 | 47 |
2029 and Thereafter | 584 |
Total minimum future lease receipts | 809 |
Residual value of leased pipeline | 17 |
Less unearned income | 421 |
Net investment in finance lease | 405 |
Less current portion | 11 |
| $ | 394 |
Interest income recognized under finance leases was $8 million and $7 million for the three months ended March 31, 2024 and 2023, respectively. DTE Energy’s lease income associated with operating leases, included in Operating Revenues — Non-utility operations in the Consolidated Statements of Operations, was as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (In millions)
Fixed payments |  |  |  |  | $ | 4 |  |  | $ | 4 |
Variable payments |  |  |  |  | 10 |  |  | 11 |
|  |  |  |  | $ | 14 |  |  | $ | 15 |

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- Definition The entire disclosure of lessor's direct financing leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
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