XML 44 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
Financial and Other Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of derivative instruments
The following table presents the fair value of derivative instruments as of September 30, 2016 and December 31, 2015 for DTE Energy:
 
September 30, 2016
 
December 31, 2015
 
Derivative
Assets
 
Derivative Liabilities
 
Derivative
Assets
 
Derivative Liabilities
 
(In millions)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 

 
 

Natural Gas
$
264

 
$
(361
)
 
$
387

 
$
(383
)
Electricity
213

 
(226
)
 
307

 
(305
)
Other
7

 
(11
)
 
5

 
(10
)
Foreign currency exchange contracts
5

 
(3
)
 
12

 
(7
)
Total derivatives not designated as hedging instruments:
$
489

 
$
(601
)
 
$
711

 
$
(705
)
 
 
 
 
 
 
 
 
Current
$
359

 
$
(408
)
 
$
570

 
$
(521
)
Noncurrent
130

 
(193
)
 
141

 
(184
)
Total derivatives
$
489

 
$
(601
)
 
$
711

 
$
(705
)

The following table presents the fair value of derivative instruments as of September 30, 2016 and December 31, 2015 for DTE Electric:
 
September 30, 2016
 
December 31, 2015
 
(In millions)
FTRs — Other current assets
$
3

 
$
3

Total derivatives not designated as hedging instrument
$
3

 
$
3
Netting Offsets of Derivative Assets and Liabilities
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy at September 30, 2016 and December 31, 2015:
 
September 30, 2016
 
December 31, 2015
 
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Consolidated Statements of Financial Position
 
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
 
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Consolidated Statements of Financial Position
 
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
 
(In millions)
Derivative assets:
 
 
 
 
 
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
$
264

 
$
(209
)
 
$
55

 
$
387

 
$
(285
)
 
$
102

Electricity
213

 
(169
)
 
44

 
307

 
(232
)
 
75

Other
7

 
(4
)
 
3

 
5

 
(2
)
 
3

Foreign currency exchange contracts
5

 
(5
)
 
—

 
12

 
(9
)
 
3

Total derivative assets
$
489

 
$
(387
)
 
$
102

 
$
711

 
$
(528
)
 
$
183

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities:
 
 
 
 
 
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
$
(361
)
 
$
218

 
$
(143
)
 
$
(383
)
 
$
294

 
$
(89
)
Electricity
(226
)
 
185

 
(41
)
 
(305
)
 
253

 
(52
)
Other
(11
)
 
11

 
—

 
(10
)
 
8

 
(2
)
Foreign currency exchange contracts
(3
)
 
3

 
—

 
(7
)
 
7

 
—

Total derivative liabilities
$
(601
)
 
$
417

 
$
(184
)
 
$
(705
)
 
$
562

 
$
(143
)
Netting Offsets of Derivative Assets and Liabilities Reconciliation to the Statements of Financial Position
The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position at September 30, 2016 and December 31, 2015:
 
September 30, 2016
 
December 31, 2015
 
Derivative Assets
 
Derivative Liabilities
 
Derivative Assets
 
Derivative Liabilities
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
(In millions)
Total fair value of derivatives
$
359

 
$
130

 
$
(408
)
 
$
(193
)
 
$
570

 
$
141

 
$
(521
)
 
$
(184
)
Counterparty netting
(299
)
 
(82
)
 
299

 
82

 
(441
)
 
(85
)
 
441

 
85

Collateral adjustment
(4
)
 
(2
)
 
24

 
12

 
—

 
(2
)
 
23

 
13

Total derivatives as reported
$
56

 
$
46

 
$
(85
)
 
$
(99
)
 
$
129

 
$
54

 
$
(57
)
 
$
(86
)
Gain (Loss) Recognized in Income on Derivatives
The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2015 for DTE Energy is as follows:
Derivatives not Designated as Hedging Instruments
 
Location of Gain
(Loss) Recognized
in Income on Derivatives
 
Gain (Loss) Recognized in Income on Derivatives for the Three Months Ended September 30,
 
Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
 
 
2016
 
2015
 
2016
 
2015
 
 
 
 
(In millions)
Commodity Contracts:
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
Operating Revenues — Non-utility operations
 
$
16

 
$
55

 
$
(70
)
 
$
(75
)
Natural Gas
 
Fuel, purchased power, and gas — non-utility
 
(59
)
 
(24
)
 
(27
)
 
9

Electricity
 
Operating Revenues — Non-utility operations
 
23

 
14

 
18

 
60

Other
 
Operating Revenues — Non-utility operations
 
1

 
(4
)
 
(1
)
 
(4
)
Foreign currency exchange contracts
 
Operating Revenues — Non-utility operations
 
—

 
1

 
(4
)
 
2

Total
 
 
 
$
(19
)
 
$
42

 
$
(84
)
 
$
(8
)
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2016:
Commodity
 
Number of Units
Natural Gas (MMBtu)
 
1,855,468,849

Electricity (MWh)
 
26,131,031

Oil (Gallons)
 
16,464,000

Foreign Currency Exchange (Canadian dollars)
 
78,709,986