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Fair Value (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Assets and Liabilities Recorded at Fair Value on a Recurring Basis
The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis as of December 31, 2016 and 2015(a):
 
December 31, 2016
 
December 31, 2015
 
Level 1
 
Level 2
 
Level 3
 
Other(b)
 
Netting(c)
 
Net Balance
 
Level 1
 
Level 2
 
Level 3
 
Other(b)
 
Netting(c)
 
Net Balance
 
(In millions)
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents(d)
$
14

 
$
3

 
$
—

 
$
—

 
$
—

 
$
17

 
$
13

 
$
3

 
$
—

 
$
—

 
$
—

 
$
16

Nuclear decommissioning trusts
906

 
414

 
—

 
—

 
—

 
1,320

 
759

 
473

 
—

 
4

 
—

 
1,236

Other investments(e)
165

 
—

 
—

 
—

 
—

 
165

 
149

 
—

 
—

 
—

 
—

 
149

Derivative assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
216

 
79

 
53

 
—

 
(306
)
 
42

 
193

 
91

 
103

 
—

 
(285
)
 
102

Electricity
—

 
154

 
39

 
—

 
(157
)
 
36

 
—

 
239

 
68

 
—

 
(232
)
 
75

Other
—

 
—

 
2

 
—

 
—

 
2

 
2

 
—

 
3

 
—

 
(2
)
 
3

Foreign currency exchange contracts
—

 
6

 
—

 
—

 
(5
)
 
1

 
—

 
12

 
—

 
—

 
(9
)
 
3

Total derivative assets
216

 
239

 
94

 
—

 
(468
)
 
81

 
195

 
342

 
174

 
—

 
(528
)
 
183

Total
$
1,301

 
$
656

 
$
94

 
$
—

 
$
(468
)
 
$
1,583

 
$
1,116

 
$
818

 
$
174

 
$
4

 
$
(528
)
 
$
1,584

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity Contracts:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
$
(226
)
 
$
(86
)
 
$
(149
)
 
$
—

 
$
321

 
$
(140
)
 
$
(218
)
 
$
(57
)
 
$
(108
)
 
$
—

 
$
294

 
$
(89
)
Electricity
—

 
(159
)
 
(30
)
 
—

 
163

 
(26
)
 
—

 
(243
)
 
(62
)
 
—

 
253

 
(52
)
Other
—

 
—

 
(3
)
 
—

 
2

 
(1
)
 
(2
)
 
—

 
(8
)
 
—

 
8

 
(2
)
Foreign currency exchange contracts
—

 
(3
)
 
—

 
—

 
3

 
—

 
—

 
(7
)
 
—

 
—

 
7

 
—

Total derivative liabilities
(226
)
 
(248
)
 
(182
)
 
—

 
489

 
(167
)
 
(220
)
 
(307
)
 
(178
)
 
—

 
562

 
(143
)
Total
$
(226
)
 
$
(248
)
 
$
(182
)
 
$
—

 
$
489

 
$
(167
)
 
$
(220
)
 
$
(307
)
 
$
(178
)
 
$
—

 
$
562

 
$
(143
)
Net Assets (Liabilities) at the end of the period
$
1,075

 
$
408

 
$
(88
)
 
$
—

 
$
21

 
$
1,416

 
$
896

 
$
511

 
$
(4
)
 
$
4

 
$
34

 
$
1,441

Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
205

 
$
199

 
$
60

 
$
—

 
$
(400
)
 
$
64

 
$
174

 
$
284

 
$
128

 
$
—

 
$
(441
)
 
$
145

Noncurrent
1,096

 
457

 
34

 
—

 
(68
)
 
1,519

 
942

 
534

 
46

 
4

 
(87
)
 
1,439

Total Assets
$
1,301

 
$
656

 
$
94

 
$
—

 
$
(468
)
 
$
1,583

 
$
1,116

 
$
818

 
$
174

 
$
4

 
$
(528
)
 
$
1,584

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
(203
)
 
$
(211
)
 
$
(79
)
 
$
—

 
$
424

 
$
(69
)
 
$
(174
)
 
$
(260
)
 
$
(87
)
 
$
—

 
$
464

 
$
(57
)
Noncurrent
(23
)
 
(37
)
 
(103
)
 
—

 
65

 
(98
)
 
(46
)
 
(47
)
 
(91
)
 
—

 
98

 
(86
)
Total Liabilities
$
(226
)
 
$
(248
)
 
$
(182
)
 
$
—

 
$
489

 
$
(167
)
 
$
(220
)
 
$
(307
)
 
$
(178
)
 
$
—

 
$
562

 
$
(143
)
Net Assets (Liabilities) at the end of the period
$
1,075

 
$
408

 
$
(88
)
 
$
—

 
$
21

 
$
1,416

 
$
896

 
$
511

 
$
(4
)
 
$
4

 
$
34

 
$
1,441


_______________________________________
(a)
Certain December 31, 2015 balances have been adjusted for the adoption of accounting guidance which removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share (or its equivalent) practical expedient. See Note 3 to the Consolidated Financial Statements, "New Accounting Pronouncements," for additional information related to the new accounting standard.
(b)
Amounts represent assets valued at NAV as a practical expedient for fair value.
(c)
Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.
(d)
At December 31, 2016, available-for-sale securities of $17 million included $7 million and $10 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2015, available-for-sale securities of $16 million, included $8 million and $8 million of cash equivalents included in Restricted cash and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively.
(e)
Excludes cash surrender value of life insurance investments.
The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of December 31, 2016 and 2015(a):
 
December 31, 2016
 
December 31, 2015
 
Level 1
 
Level 2
 
Level 3
 
Other(b)
 
Net Balance
 
Level 1
 
Level 2
 
Level 3
 
Other(b)
 
Net Balance
 
(In millions)
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents(c)
$
8

 
$
3

 
$
—

 
$
—

 
$
11

 
$
5

 
$
3

 
$
—

 
$
—

 
$
8

Nuclear decommissioning trusts
906

 
414

 
—

 
—

 
1,320

 
759

 
473

 
—

 
4

 
1,236

Other investments
9

 
—

 
—

 
—

 
9

 
8

 
—

 
—

 
—

 
8

Derivative assets — FTRs
—

 
—

 
2

 
—

 
2

 
—

 
—

 
3

 
—

 
3

Total
$
923

 
$
417

 
$
2

 
$
—

 
$
1,342

 
$
772

 
$
476

 
$
3

 
$
4

 
$
1,255

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
8

 
$
3

 
$
2

 
$
—

 
$
13

 
$
5

 
$
3

 
$
3

 
$
—

 
$
11

Noncurrent
915

 
414

 
—

 
—

 
1,329

 
767

 
473

 
—

 
4

 
1,244

Total Assets
$
923

 
$
417

 
$
2

 
$
—

 
$
1,342

 
$
772

 
$
476

 
$
3

 
$
4

 
$
1,255

_______________________________________
(a)
Certain December 31, 2015 balances have been adjusted for the adoption of accounting guidance which removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share (or its equivalent) practical expedient. See Note 3 to the Consolidated Financial Statements, "New Accounting Pronouncements," for additional information related to the new accounting standard.
(b)
Amounts represent assets valued at NAV as a practical expedient for fair value.
(c)
At December 31, 2016, available-for-sale securities of $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2015, available-for-sale securities of $8 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position.
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis Level 3 Roll Forward
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy for the years ended December 31, 2016 and 2015:
 
Year Ended December 31, 2016
 
Year Ended December 31, 2015
 
Natural Gas
 
Electricity
 
Other
 
Total
 
Natural Gas
 
Electricity
 
Other
 
Total
 
(In millions)
Net Assets (Liabilities) as of January 1
$
(5
)
 
$
6

 
$
(5
)
 
$
(4
)
 
$
30

 
$
(5
)
 
$
(1
)
 
$
24

Transfers into Level 3 from Level 2
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Transfers from Level 3 into Level 2
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total gains (losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Included in earnings
(159
)
 
(2
)
 
1

 
(160
)
 
(44
)
 
44

 
(8
)
 
(8
)
Recorded in Regulatory liabilities
—

 
—

 
6

 
6

 
—

 
—

 
12

 
12

Purchases, issuances, and settlements:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Purchases
—

 
1

 
—

 
1

 
—

 
2

 
—

 
2

Settlements
68

 
4

 
(3
)
 
69

 
9

 
(35
)
 
(8
)
 
(34
)
Net Assets (Liabilities) as of December 31
$
(96
)
 
$
9

 
$
(1
)
 
$
(88
)
 
$
(5
)
 
$
6

 
$
(5
)
 
$
(4
)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2016 and 2015 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations
$
(166
)
 
$
7

 
$
2

 
$
(157
)
 
$
(135
)
 
$
13

 
$
(7
)
 
$
(129
)

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric for the years ended December 31, 2016 and 2015:
 
Year Ended December 31,
 
2016
 
2015
 
(In millions)
Net Assets as of January 1
$
3

 
$
3

Change in fair value recorded in Regulatory liabilities
6

 
12

Purchases, issuances, and settlements:
 
 
 
Settlements
(7
)
 
(12
)
Net Assets as of December 31
$
2

 
$
3

The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at December 31, 2016 and 2015 and reflected in DTE Electric's Consolidated Statements of Financial Position
$
2

 
$
3
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques
The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities as of December 31, 2016 and 2015:
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
 
Commodity Contracts
 
Derivative Assets
 
Derivative Liabilities
 
Valuation Techniques
 
Unobservable Input
 
Range
 
Weighted Average
 
 
(In millions)
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
$
53

 
$
(149
)
 
Discounted Cash Flow
 
Forward basis price (per MMBtu)
 
$
(1.00
) —
 
$
7.90
/MMBtu
 
$
(0.05
)/MMBtu
Electricity
 
$
39

 
$
(30
)
 
Discounted Cash Flow
 
Forward basis price (per MWh)
 
$
(6
) —
 
$
12
/MWh
 
$
1
/MWh
 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
Commodity Contracts
 
Derivative Assets
 
Derivative Liabilities
 
Valuation Techniques
 
Unobservable Input
 
Range
 
Weighted Average
 
 
(In millions)
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
$
103

 
$
(108
)
 
Discounted Cash Flow
 
Forward basis price (per MMBtu)
 
$
(1.50
) —
 
$
2.77
/MMBtu
 
$
(0.19
)/MMBtu
Electricity
 
$
68

 
$
(62
)
 
Discounted Cash Flow
 
Forward basis price (per MWh)
 
$
(11
) —
 
$
14
/MWh
 
$
2
/MWh
Fair Value of Financial Instruments
The following table presents the carrying amount and fair value of financial instruments for DTE Energy as of December 31, 2016 and 2015:
 
December 31, 2016
 
December 31, 2015
 
Carrying
 
Fair Value
 
Carrying
 
Fair Value
 
Amount
 
Level 1
 
Level 2
 
Level 3
 
Amount
 
Level 1
 
Level 2
 
Level 3
 
(In millions)
Notes receivable, excluding capital leases
$
36

 
$
—

 
$
—

 
$
36

 
$
32

 
$
—

 
$
—

 
$
32

Dividends payable
$
148

 
$
148

 
$
—

 
$
—

 
$
131

 
$
131

 
$
—

 
$
—

Short-term borrowings
$
499

 
$
—

 
$
499

 
$
—

 
$
499

 
$
—

 
$
499

 
$
—

Notes payable — Other(a)
$
17

 
$
—

 
$
—

 
$
17

 
$
—

 
$
—

 
$
—

 
$
—

Long-term debt(b)
$
11,270

 
$
1,465

 
$
9,384

 
$
1,056

 
$
9,210

 
$
496

 
$
8,136

 
$
1,203


_______________________________________
(a)
Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)
Includes debt due within one year, unamortized debt discounts, premiums, and issuance costs. Excludes Capital lease obligations.
The following table presents the carrying amount and fair value of financial instruments for DTE Electric as of December 31, 2016 and 2015:
 
December 31, 2016
 
December 31, 2015
 
Carrying
 
Fair Value
 
Carrying
 
Fair Value
 
Amount
 
Level 1
 
Level 2
 
Level 3
 
Amount
 
Level 1
 
Level 2
 
Level 3
 
(In millions)
Notes receivable, excluding capital leases
$
5

 
$
—

 
$
—

 
$
5

 
$
5

 
$
—

 
$
—

 
$
5

Short-term borrowings — affiliates
$
117

 
$
—

 
$
—

 
$
117

 
$
75

 
$
—

 
$
—

 
$
75

Short-term borrowings — other
$
62

 
$
—

 
$
62

 
$
—

 
272

 
$
—

 
$
272

 
$
—

Notes payable — Other(a)
$
6

 
$
—

 
$
—

 
$
6

 
$
—

 
$
—

 
$
—

 
$
—

Long-term debt(b)
$
5,878

 
$
—

 
$
6,026

 
$
264

 
$
5,588

 
$
—

 
$
5,432

 
$
545


_______________________________________
(a)
Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.
(b)
Includes debt due within one year, unamortized debt discounts, and issuance costs. Excludes Capital lease obligations.
Fair Value of Nuclear Decommissioning Trust Fund Assets
The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:
 
December 31, 2016
 
December 31, 2015
 
(In millions)
Fermi 2
$
1,291

 
$
1,211

Fermi 1
3

 
3

Low-level radioactive waste
26

 
22


$
1,320

 
$
1,236
Schedule of Realized Gain (Loss) for Nuclear Decomissioning Trust Funds
The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
(In millions)
Realized gains
$
74

 
$
39

 
$
54

Realized losses
$
(63
)
 
$
(33
)
 
$
(33
)
Proceeds from sale of securities
$
1,457

 
$
885

 
$
1,146
Fair Value and Unrealized Gains and Losses for Nuclear Decommissioning Trust Funds
The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:
 
December 31, 2016
 
December 31, 2015
 
Fair
Value
 
Unrealized
Gains
 
Unrealized Losses
 
Fair
Value
 
Unrealized
Gains
 
Unrealized Losses
 
(In millions)
Equity securities
$
887

 
$
222

 
$
(46
)
 
$
731

 
$
195

 
$
(68
)
Debt securities
425

 
11

 
(5
)
 
499

 
16

 
(4
)
Cash and cash equivalents
8

 
—

 
—

 
6

 
—

 
—

 
$
1,320

 
$
233


$
(51
)
 
$
1,236

 
$
211


$
(72
)