XML 69 R43.htm IDEA: XBRL DOCUMENT v3.3.1.900
Financial and Other Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table presents the fair value of derivative instruments as of December 31, 2015 and 2014 for DTE Energy:
 
December 31, 2015
 
December 31, 2014
 
Derivative
Assets
 
Derivative
Liabilities
 
Derivative
Assets
 
Derivative
Liabilities
 
(In millions)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency exchange contracts
$
12

 
$
(7
)
 
$
4

 
$
(5
)
Commodity Contracts:
 
 
 
 
 

 
 

Natural Gas
387

 
(383
)
 
787

 
(718
)
Electricity
307

 
(305
)
 
342

 
(342
)
Other
5

 
(10
)
 
45

 
(45
)
Total derivatives not designated as hedging instruments:
$
711

 
$
(705
)
 
$
1,178

 
$
(1,110
)
 
 
 
 
 
 
 
 
Current
$
570

 
$
(521
)
 
$
1,083

 
$
(1,041
)
Noncurrent
141

 
(184
)
 
95

 
(69
)
Total derivatives
$
711

 
$
(705
)
 
$
1,178

 
$
(1,110
)

The following table presents the fair value of derivative instruments as of December 31, 2015 and 2014 for DTE Electric:
 
December 31,
 
2015
 
2014
 
(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 December 31, 2015 and 2014:
 
December 31, 2015
 
December 31, 2014
 
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
$
387

 
$
(285
)
 
$
102

 
$
787

 
$
(681
)
 
$
106

Electricity
307

 
(232
)
 
75

 
342

 
(280
)
 
62

Other
5

 
(2
)
 
3

 
45

 
(42
)
 
3

Other derivative contracts (a)
12

 
(9
)
 
3

 
4

 
(3
)
 
1

Total derivative assets
$
711

 
$
(528
)
 
$
183

 
$
1,178

 
$
(1,006
)
 
$
172

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities:
 
 
 
 
 
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
$
(383
)
 
$
294

 
$
(89
)
 
$
(718
)
 
$
679

 
$
(39
)
Electricity
(305
)
 
253

 
(52
)
 
(342
)
 
298

 
(44
)
Other
(10
)
 
8

 
(2
)
 
(45
)
 
45

 
—

Other derivative contracts (a)
(7
)
 
7

 
—

 
(5
)
 
3

 
(2
)
Total derivative liabilities
$
(705
)
 
$
562

 
$
(143
)
 
$
(1,110
)
 
$
1,025

 
$
(85
)

_______________________________________
(a)
Primarily includes foreign currency exchange contracts
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 December 31, 2015 and 2014:
 
December 31, 2015
 
December 31, 2014
 
Derivative Assets
 
Derivative Liabilities
 
Derivative Assets
 
Derivative Liabilities
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
(In millions)
Total fair value of derivatives
$
570

 
$
141

 
$
(521
)
 
$
(184
)
 
$
1,083

 
$
95

 
$
(1,041
)
 
$
(69
)
Counterparty netting
(441
)
 
(85
)
 
441

 
85

 
(955
)
 
(51
)
 
955

 
51

Collateral adjustment
—

 
(2
)
 
23

 
13

 
—

 
—

 
9

 
10

Total derivatives as reported
$
129

 
$
54

 
$
(57
)
 
$
(86
)
 
$
128

 
$
44

 
$
(77
)
 
$
(8
)
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 years ended December 31, 2015 and 2014 is as follows:
 
 
Location of Gain
(Loss) Recognized
in Income on Derivatives
 
Gain (Loss) Recognized in
Income on Derivatives for
Years Ended December 31,
Derivatives not Designated as Hedging Instruments
 
 
2015
 
2014
 
 
 
 
(In millions)
Foreign currency exchange contracts
 
Operating Revenues — Non-utility operations
 
$
3

 
$
(2
)
Commodity Contracts:
 
 
 
 
 
 
Natural Gas
 
Operating Revenues — Non-utility operations
 
(34
)
 
(30
)
Natural Gas
 
Fuel, purchased power, and gas — non-utility
 
(44
)
 
(5
)
Electricity
 
Operating Revenues — Non-utility operations
 
54

 
123

Other
 
Operating Revenues — Non-utility operations
 
(7
)
 
(7
)
Total
 
 
 
$
(28
)
 
$
79
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of December 31, 2015:
Commodity
 
Number of Units
Natural Gas (MMBtu)
 
1,740,824,930

Electricity (MWh)
 
27,668,865

Oil (Gallons)
 
21,756,000

Foreign Currency Exchange (Canadian dollars)
 
72,328,008