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Financial and Other Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table presents the fair value of derivative instruments for DTE Energy:


	September 30, 2021				December 31, 2020
	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
	(In millions)
Derivatives designated as hedging instruments
Foreign currency exchange contracts	$	—	$	(3)	$	—	$	(4)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas	$	778	$	(1,055)	$	233	$	(223)
Electricity	952		(916)		180		(168)
Environmental & Other	610		(581)		154		(137)
Foreign currency exchange contracts	—		(2)		—		(1)
Total derivatives not designated as hedging instruments	$	2,340	$	(2,554)	$	567	$	(529)

Current	$	1,938	$	(2,011)	$	446	$	(386)
Noncurrent	402		(546)		121		(147)
Total derivatives	$	2,340	$	(2,557)	$	567	$	(533)

The following table presents the fair value of derivative instruments for DTE Electric:


	September 30, 2021		December 31, 2020
	(In millions)
FTRs — Other current assets	$	12	$	4
Total derivatives not designated as hedging instruments	$	12	$	4

Offsetting Assets

The following table presents net cash collateral offsetting arrangements for DTE Energy:


	September 30, 2021		December 31, 2020
	(In millions)
Cash collateral netted against Derivative assets	$	(122)	$	(12)
Cash collateral netted against Derivative liabilities	58		6
Cash collateral recorded in Accounts receivable(a)	66		14
Cash collateral recorded in Accounts payable(a)	(8)		(1)
Total net cash collateral posted (received)	$	(6)	$	7

_______________________________________

(a)Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:


	September 30, 2021						December 31, 2020
	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	$	778	$	(715)	$	63	$	233	$	(156)	$	77
Electricity	952		(627)		325		180		(120)		60
Environmental & Other	610		(570)		40		154		(135)		19

Total derivative assets	$	2,340	$	(1,912)	$	428	$	567	$	(411)	$	156

Derivative liabilities
Commodity contracts
Natural gas	$	(1,055)	$	664	$	(391)	$	(223)	$	151	$	(72)
Electricity	(916)		614		(302)		(168)		125		(43)
Environmental & Other	(581)		570		(11)		(137)		129		(8)

Foreign currency exchange contracts	(5)		—		(5)		(5)		—		(5)
Total derivative liabilities	$	(2,557)	$	1,848	$	(709)	$	(533)	$	405	$	(128)

Offsetting Liabilities

The following table presents net cash collateral offsetting arrangements for DTE Energy:


	September 30, 2021		December 31, 2020
	(In millions)
Cash collateral netted against Derivative assets	$	(122)	$	(12)
Cash collateral netted against Derivative liabilities	58		6
Cash collateral recorded in Accounts receivable(a)	66		14
Cash collateral recorded in Accounts payable(a)	(8)		(1)
Total net cash collateral posted (received)	$	(6)	$	7

_______________________________________

(a)Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:


	September 30, 2021						December 31, 2020
	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	$	778	$	(715)	$	63	$	233	$	(156)	$	77
Electricity	952		(627)		325		180		(120)		60
Environmental & Other	610		(570)		40		154		(135)		19

Total derivative assets	$	2,340	$	(1,912)	$	428	$	567	$	(411)	$	156

Derivative liabilities
Commodity contracts
Natural gas	$	(1,055)	$	664	$	(391)	$	(223)	$	151	$	(72)
Electricity	(916)		614		(302)		(168)		125		(43)
Environmental & Other	(581)		570		(11)		(137)		129		(8)

Foreign currency exchange contracts	(5)		—		(5)		(5)		—		(5)
Total derivative liabilities	$	(2,557)	$	1,848	$	(709)	$	(533)	$	405	$	(128)

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:


	September 30, 2021								December 31, 2020
	Derivative Assets				Derivative Liabilities				Derivative Assets				Derivative Liabilities
	Current		Noncurrent		Current		Noncurrent		Current		Noncurrent		Current		Noncurrent
	(In millions)
Total fair value of derivatives	$	1,938	$	402	$	(2,011)	$	(546)	$	446	$	121	$	(386)	$	(147)
Counterparty netting	(1,498)		(292)		1,498		292		(318)		(81)		318		81
Collateral adjustment	(93)		(29)		48		10		(12)		—		—		6
Total derivatives as reported	$	347	$	81	$	(465)	$	(244)	$	116	$	40	$	(68)	$	(60)

Gain (Loss) Recognized in Income on Derivatives

The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows:


	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,
		2021		2020		2021		2020
		(In millions)
Commodity contracts
Natural gas	Operating Revenues — Non-utility operations	$	(214)	$	(27)	$	(371)	$	(63)
Natural gas	Fuel, purchased power, gas, and other — non-utility	63		(51)		(16)		28
Electricity	Operating Revenues — Non-utility operations	68		33		143		75
Environmental & Other	Operating Revenues — Non-utility operations	3		2		(36)		(40)
Foreign currency exchange contracts	Operating Revenues — Non-utility operations	2		(2)		(1)		—
Total		$	(78)	$	(45)	$	(281)	$	—

Volume of Commodity Contracts

The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2021:


Commodity						Number of Units
Natural gas (MMBtu)						2,096,409,912
Electricity (MWh)						29,383,562

Foreign currency exchange ($ CAD)						119,281,865

Renewable Energy Certificates (MWh)						8,387,594
Carbon emissions (Metric Tons)						48,343,793