Long-Term Financings

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Long-Term Financings

LONG-TERM FINANCINGS

Debt Issuances

Refer to the table below for debt issued through March 31, 2026:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	February	Mortgage Bonds(a)	4.85%	2036	$	800
DTE Electric	February	Mortgage Bonds(a)	5.55%	2056	800
					$	1,600

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(a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.

Debt Redemptions

Refer to the table below for debt redeemed through March 31, 2026:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	March	Securitization Bonds	5.97%	2026	$	16

Equity At-the-Market Program

In December 2025, DTE Energy filed a prospectus supplement and executed an Equity Distribution Agreement, pursuant to which DTE Energy may sell, from time to time, up to an aggregate $1.5 billion of its common stock through an at-the-market program, including an equity forward sales component. During the three months ended March 31, 2026, DTE Energy entered into equity forward sale agreements for approximately 2.5 million shares at a weighted average forward price of $144.41 as of March 31, 2026, which includes expected sales commissions. There were no issuances under the ATM program for the three months ended March 31, 2026.

The forward sale agreements require DTE Energy to, at its election prior to December 31, 2026, either (i) physically settle the transactions by issuing shares of its Common stock to the forward counterparties in exchange for net proceeds at the then-applicable forward sale price specified by the agreements or (ii) net settle the transactions in whole or in part through the delivery to the forward counterparties or receipt from the forward counterparties of cash or shares in accordance with the provisions of the agreements.

No amounts have been or will be recorded on DTE Energy's Consolidated Financial Statements until settlements of the equity forward sale agreements occur. The initial forward sale prices are subject to daily adjustments prior to settlement. Until settlement of the equity forwards, earnings per share dilution resulting from the agreements, if any, will be determined under the treasury stock method. Refer to Note 6 to the Consolidated Financial Statements, "Earnings per Share," for additional information regarding the diluted earnings per share calculation.