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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
and Similar
Investments
 
Private Equity
and Other
 
Total
 
Hedge Funds
and Similar
Investments
 
Private Equity
and Other
 
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
and Similar
Investments
 
Private Equity
and Other
 
Total
 
Hedge Funds
and Similar
Investments
 
Private Equity
and Other
 
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
and Similar
Investments
 
Private
Equity and
Other
 
Total
 
Hedge Funds
and Similar
Investments
 
Private
Equity and
Other
 
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
and Similar
Investments
 
Private
Equity and
Other
 
Total
 
Hedge Funds
and Similar
Investments
 
Private
Equity and
Other
 
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