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Financial and Other Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table presents the fair value of derivative instruments for DTE Energy:
 
March 31, 2020
 
December 31, 2019
 
Derivative
Assets
 
Derivative Liabilities
 
Derivative
Assets
 
Derivative Liabilities
 
(In millions)
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
Natural gas
$
282

 
$
(278
)
 
$
355

 
$
(351
)
Electricity
313

 
(317
)
 
306

 
(298
)
Environmental & Other
179

 
(149
)
 
113

 
(121
)
Foreign currency exchange contracts
7

 
(2
)
 
1

 
—

Total derivatives not designated as hedging instruments
$
781

 
$
(746
)
 
$
775

 
$
(770
)
 
 
 
 
 
 
 
 
Current
$
601

 
$
(577
)
 
$
646

 
$
(596
)
Noncurrent
180

 
(169
)
 
129

 
(174
)
Total derivatives
$
781

 
$
(746
)
 
$
775

 
$
(770
)

The following table presents the fair value of derivative instruments for DTE Electric:
 
March 31, 2020
 
December 31, 2019
 
(In millions)
FTRs — Other current assets
$
1

 
$
3

Total derivatives not designated as hedging instruments
$
1

 
$
3
Netting Offsets of Derivative Assets
The following table presents net cash collateral offsetting arrangements for DTE Energy:
 
March 31, 2020
 
December 31, 2019
 
(In millions)
Cash collateral recorded in Accounts receivable(a)
$
10

 
$
13

Cash collateral recorded in Accounts payable(a)
(3
)
 
(3
)
Total net cash collateral posted (received)
$
7

 
$
10

_______________________________________
(a)
Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
 
March 31, 2020
 
December 31, 2019
 
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
$
282

 
$
(204
)
 
$
78

 
$
355

 
$
(266
)
 
$
89

Electricity
313

 
(242
)
 
71

 
306

 
(225
)
 
81

Environmental & Other
179

 
(163
)
 
16

 
113

 
(110
)
 
3

Foreign currency exchange contracts
7

 
(2
)
 
5

 
1

 
—

 
1

Total derivative assets
$
781

 
$
(611
)
 
$
170

 
$
775

 
$
(601
)
 
$
174

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
 
 
 
 
Natural gas
$
(278
)
 
$
204

 
$
(74
)
 
$
(351
)
 
$
266

 
$
(85
)
Electricity
(317
)
 
242

 
(75
)
 
(298
)
 
225

 
(73
)
Environmental & Other
(149
)
 
163

 
14

 
(121
)
 
110

 
(11
)
Interest rate contracts
—

 
—

 
—

 
—

 
—

 
—

Foreign currency exchange contracts
(2
)
 
2

 
—

 
—

 
—

 
—

Total derivative liabilities
$
(746
)
 
$
611

 
$
(135
)
 
$
(770
)
 
$
601

 
$
(169
)
Netting Offsets of Derivative Liabilities
The following table presents net cash collateral offsetting arrangements for DTE Energy:
 
March 31, 2020
 
December 31, 2019
 
(In millions)
Cash collateral recorded in Accounts receivable(a)
$
10

 
$
13

Cash collateral recorded in Accounts payable(a)
(3
)
 
(3
)
Total net cash collateral posted (received)
$
7

 
$
10

_______________________________________
(a)
Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
 
March 31, 2020
 
December 31, 2019
 
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
$
282

 
$
(204
)
 
$
78

 
$
355

 
$
(266
)
 
$
89

Electricity
313

 
(242
)
 
71

 
306

 
(225
)
 
81

Environmental & Other
179

 
(163
)
 
16

 
113

 
(110
)
 
3

Foreign currency exchange contracts
7

 
(2
)
 
5

 
1

 
—

 
1

Total derivative assets
$
781

 
$
(611
)
 
$
170

 
$
775

 
$
(601
)
 
$
174

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
 
 
 
 
 
 
 
 
 
 
Natural gas
$
(278
)
 
$
204

 
$
(74
)
 
$
(351
)
 
$
266

 
$
(85
)
Electricity
(317
)
 
242

 
(75
)
 
(298
)
 
225

 
(73
)
Environmental & Other
(149
)
 
163

 
14

 
(121
)
 
110

 
(11
)
Interest rate contracts
—

 
—

 
—

 
—

 
—

 
—

Foreign currency exchange contracts
(2
)
 
2

 
—

 
—

 
—

 
—

Total derivative liabilities
$
(746
)
 
$
611

 
$
(135
)
 
$
(770
)
 
$
601

 
$
(169
)
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:
 
March 31, 2020
 
December 31, 2019
 
Derivative Assets
 
Derivative Liabilities
 
Derivative Assets
 
Derivative Liabilities
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
Current
 
Noncurrent
 
(In millions)
Total fair value of derivatives
$
601

 
$
180

 
$
(577
)
 
$
(169
)
 
$
646

 
$
129

 
$
(596
)
 
$
(174
)
Counterparty netting
(489
)
 
(122
)
 
489

 
122

 
(513
)
 
(88
)
 
513

 
88

Collateral adjustment
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total derivatives as reported
$
112

 
$
58

 
$
(88
)
 
$
(47
)
 
$
133

 
$
41

 
$
(83
)
 
$
(86
)
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 March 31,
 
 
2020
 
2019
 
 
 
 
(In millions)
Commodity contracts
 
 
 
 
Natural gas
 
Operating Revenues — Non-utility operations
 
$
(11
)
 
$
(15
)
Natural gas
 
Fuel, purchased power, and gas — non-utility
 
36

 
70

Electricity
 
Operating Revenues — Non-utility operations
 
1

 
(49
)
Environmental & Other
 
Operating Revenues — Non-utility operations
 
21

 
1

Foreign currency exchange contracts
 
Operating Revenues — Non-utility operations
 
5

 
(1
)
Total
 
 
 
$
52

 
$
6
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of March 31, 2020:
Commodity
 
Number of Units
Natural gas (MMBtu)
 
1,756,620,693

Electricity (MWh)
 
36,261,221

Foreign currency exchange (CAD)
 
82,707,523

Renewable Energy Certificates (MWh)
 
11,761,761