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Long-Term Debt (Notes)
12 Months Ended
Dec. 31, 2013
Long-term Debt, Unclassified [Abstract]  
Long-Term Debt
LONG-TERM DEBT

Long-Term Debt

The Company’s long-term debt outstanding and weighted average interest rates (a) of debt outstanding at December 31 were:
 
2013
 
2012
 
(In millions)
Mortgage bonds, notes, and other
 
 
 
DTE Energy Debt, Unsecured
 
 
 
6.1% due 2014 to 2033
$
1,297

 
$
1,298

DTE Electric Taxable Debt, Principally Secured
 
 
 
4.7% due 2014 to 2043
4,286

 
3,777

DTE Electric Tax-Exempt Revenue Bonds (b)
 
 
 
5.1% due 2014 to 2036
558

 
707

DTE Gas Taxable Debt, Principally Secured
 
 
 
5.6% due 2014 to 2042
1,029

 
919

Other Long-Term Debt, Including Non-Recourse Debt
142

 
153

 
7,312

 
6,854

Less amount due within one year
(694
)
 
(634
)
 
$
6,618

 
$
6,220

Securitization bonds
 
 
 
6.6% due 2015
$
302

 
$
479

Less amount due within one year
(197
)
 
(177
)
 
$
105

 
$
302

Junior Subordinated Debentures
 
 
 
6.5% due 2061
$
280

 
$
280

5.25% due 2062
200

 
200

 
$
480

 
$
480


_______________________________________
(a)
Weighted average interest rates as of December 31, 2013 are shown below the description of each category of debt.
(b)
DTE Electric Tax-Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds.

Debt Issuances

In 2013, the following debt was issued:
Company
 
Month Issued
 
Type
 
Interest Rate
 
Maturity
 
Amount
 
 
 
 
 
 
 
 
 
 
(In millions)
DTE Electric
 
March
 
Mortgage Bonds (a)
 
4.00
%
 
2043
 
$
375

DTE Electric
 
August
 
Mortgage Bonds (a)
 
3.65
%
 
2024
 
400

DTE Energy
 
November
 
Senior Notes (a)
 
3.85
%
 
2023
 
300

DTE Gas
 
December
 
Mortgage Bonds (a)
 
3.64
%
 
2023
 
50

DTE Gas
 
December
 
Mortgage Bonds (a)
 
3.74
%
 
2025
 
70

DTE Gas
 
December
 
Mortgage Bonds (a)
 
3.94
%
 
2028
 
50

 
 
 
 
 
 
 
 
 
 
$
1,245


_______________________________________
(a)
Proceeds were used for the redemption of long-term debt, repayment of short-term borrowings and general corporate purposes.


Debt Redemptions

In 2013, the following debt was redeemed:
Company
 
Month
 
Type
 
Interest Rate
 
Maturity
 
Amount
 
 
 
 
 
 
 
 
 
 
(In millions)
DTE Electric
 
March
 
Securitization Bonds
 
6.42
%
 
2013
 
$
88

DTE Electric
 
March
 
Tax Exempt Revenue Bonds (a)
 
5.30
%
 
2030
 
51

DTE Electric
 
April
 
Other Long-Term Debt
 
Various

 
2013
 
13

DTE Gas
 
April
 
Senior Notes
 
5.26
%
 
2013
 
60

DTE Energy
 
June
 
Senior Notes
 
Variable

 
2013
 
300

DTE Electric
 
September
 
Securitization Bonds
 
6.62
%
 
2013
 
89

DTE Electric
 
September
 
Senior Notes
 
6.40
%
 
2013
 
250

DTE Electric
 
December
 
Tax Exempt Revenue Bonds (a)
 
5.50
%
 
2030
 
49

DTE Electric
 
December
 
Tax Exempt Revenue Bonds (a)
 
6.75
%
 
2038
 
50

DTE Energy
 
Various
 
Other Long-Term Debt
 
Various

 
2013
 
11

 
 
 
 
 
 
 
 
 
 
$
961

_______________________________________
(a)
DTE Electric Tax Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds.

The following table shows the scheduled debt maturities:
 
2014
 
2015
 
2016
 
2017
 
2018
 
2019 and
Thereafter
 
Total
 
(In millions)
Amount to mature
$
891

 
$
476

 
$
465

 
$
9

 
$
407

 
$
5,846

 
$
8,094



Junior Subordinated Debentures

At December 31, 2013, the Company had $280 million of 6.5% Junior Subordinated Debentures due 2061 and $200 million of 5.25% Junior Subordinated Debentures due 2062. The Company has the right to defer interest payments on the debt securities. Should the Company exercise this right, it cannot declare or pay dividends on, or redeem, purchase or acquire, any of its capital stock during the deferral period. Any deferred interest payments will bear additional interest at the rate associated with the related debt issue.

Cross Default Provisions

Substantially all of the net utility properties of DTE Electric and DTE Gas are subject to the lien of mortgages. Should DTE Electric or DTE Gas fail to timely pay their indebtedness under these mortgages, such failure may create cross defaults in the indebtedness of DTE Energy.