XML 42 R24.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Short-Term Credit Arrangements and Borrowings | 3 Months Ended
--- | ---
Mar. 31, 2024
Short-Term Debt [Abstract] |
Short-Term Credit Arrangements and Borrowings | SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS DTE Energy, DTE Electric, and DTE Gas have unsecured revolving credit agreements that can be used for general corporate borrowings, but are intended to provide liquidity support for each of the companies’ commercial paper programs. Borrowings under the revolvers are available at prevailing short-term interest rates. Letters of credit of up to $500 million may also be issued under the DTE Energy revolver. DTE Energy and DTE Electric also have other facilities to support letter of credit issuance and increase liquidity. The unsecured revolving credit agreements require a total funded debt to capitalization ratio of no more than 0.70 to 1 for DTE Energy and 0.65 to 1 for DTE Electric and DTE Gas. In the agreements, "total funded debt" means all indebtedness of each respective company and their consolidated subsidiaries, including finance 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 March 31, 2024, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.64 to 1, 0.53 to 1, and 0.45 to 1, respectively, and were in compliance with this financial covenant. The availability under these facilities as of March 31, 2024 is shown in the following table:
| DTE Energy |  | DTE Electric |  | DTE Gas |  | Total
| (In millions)
Unsecured revolving credit facility, expiring October 2028 | $ | 1,500 |  |  | $ | 800 |  |  | $ | 300 |  |  | $ | 2,600 |
Unsecured letter of credit facility, expiring June 2024 | 175 |  |  | — |  |  | — |  |  | 175 |
Unsecured letter of credit facility, expiring February 2025 | 150 |  |  | — |  |  | — |  |  | 150 |
Unsecured letter of credit facilities(a) | 150 |  |  | — |  |  | — |  |  | 150 |
Unsecured letter of credit facility(b) | — |  |  | 100 |  |  | — |  |  | 100 |
| 1,975 |  |  | 900 |  |  | 300 |  |  | 3,175 |
Amounts outstanding at March 31, 2024 |  |  |  |  |  |  |
Commercial paper issuances | 80 |  |  | 210 |  |  | — |  |  | 290 |
Letters of credit | 96 |  |  | 58 |  |  | — |  |  | 154 |
| 176 |  |  | 268 |  |  | — |  |  | 444 |
Net availability at March 31, 2024 | $ | 1,799 |  |  | $ | 632 |  |  | $ | 300 |  |  | $ | 2,731 |
_______________________________________ (a)Uncommitted letter of credit facilities with automatic renewal provision and therefore no expiration. (b)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration. DTE Energy may also utilize availability under this facility. In conjunction with maintaining certain exchange-traded risk management positions, DTE Energy may be required to post collateral with a clearing agent. DTE Energy has a demand financing agreement with its clearing agent, which allows the right of setoff with posted collateral. At March 31, 2024, the capacity under the facility was $200 million. The amounts outstanding under demand financing agreements were $140 million and $152 million at March 31, 2024 and December 31, 2023, respectively, and were fully offset by posted collateral.

X
- References No definition available. + Details
Name: | us-gaap_ShortTermBorrowingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration