Dispositions and Impairments (Tables)

9 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The table below reflects the financial results of DT Midstream that have been reclassified from continuing operations and included in discontinued operations within the Consolidated Statements of Operations. These results include the impact of tax-related adjustments and all transaction costs related to the separation. General corporate overhead costs have been excluded and no portion of corporate interest costs were allocated to discontinued operations.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(In millions)
Operating Revenues — Non-utility operations	$	—	$	204	$	405	$	546
Operating Expenses
Cost of gas and other — non-utility	—		6		15		14
Operation and maintenance(a)	30		32		124		80
Depreciation and amortization	—		38		82		110
Taxes other than income	—		3		13		12
Asset (gains) losses and impairments, net	—		(4)		17		(4)
	30		75		251		212
Operating Income (Loss)	(30)		129		154		334
Other (Income) and Deductions
Interest expense	—		29		50		82
Interest income	—		(4)		(4)		(6)
Other income	—		(45)		(62)		(98)
	—		(20)		(16)		(22)
Income (Loss) from Discontinued Operations Before Income Taxes	(30)		149		170		356
Income Tax Expense	3		42		58		99
Income (Loss) from Discontinued Operations, Net of Taxes	(33)		107		112		257
Less: Net Income Attributable to Noncontrolling Interests	—		3		6		8
Net Income (Loss) from Discontinued Operations	$	(33)	$	104	$	106	$	249

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(a)Includes separation transaction costs of $30 million and $59 million for the three and nine months ended September 30, 2021, respectively, for various legal, accounting and other professional services fees. There were no costs incurred in the comparable prior year periods. Total transaction costs of $67 million have been incurred since October 2020.

The table below reflects the major assets and liabilities that were transferred to DT Midstream and presented as discontinued operations in the Consolidated Statements of Financial Position as of December 31, 2020.

	December 31, 2020
	(In millions)
Total Assets of Discontinued Operations
Cash	$	42
Accounts receivable	126
Inventories	8
Other	44
Current assets of DT Midstream	220
Less: Previously affiliated amounts eliminated at DTE Energy	3
Current assets of discontinued operations for DTE Energy	217
Investments in equity method investees	1,691
Net property, plant, and equipment	3,470
Goodwill	473
Intangible assets	2,140
Notes receivable	19
Operating lease right-of-use assets	45
Other	21
Noncurrent assets of discontinued operations for DTE Energy	7,859
Total Assets of Discontinued Operations for DTE Energy	$	8,076
Total Liabilities of Discontinued Operations
Accounts payable	$	39
Operating lease liabilities	17
Short-term borrowings due to DTE Energy(a)	2,913
Other	53
Current liabilities of DT Midstream	3,022
Less: Previously affiliated amounts eliminated at DTE Energy	2,923
Current liabilities of discontinued operations for DTE Energy	99
Deferred income taxes	753
Asset retirement obligations	10
Operating lease liabilities	28
Other	45
Noncurrent liabilities of discontinued operations for DTE Energy	836
Total Liabilities of Discontinued Operations for DTE Energy	$	935

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(a)Short-term borrowings due to DTE Energy resulted in an intercompany note receivable in the Corporate and Other segment at December 31, 2020. The settlement of these borrowings in June 2021 and use of proceeds to redeem DTE Energy long-term debt in the third quarter 2021 has reduced the Total Assets of the Corporate and Other segment in the current period. Other changes in DTE Energy's Total Assets due to the separation of DT Midstream primarily relate to the elimination of Gas Storage and Pipelines segment assets in 2021.

The following table is a summary of significant non-cash items, capital expenditures, and significant financing activities of discontinued operations included in DTE Energy's Consolidated Statements of Cash Flows:

	Nine Months Ended September 30,
	2021		2020
	(In millions)
Operating Activities
Depreciation and amortization	$	82	$	110
Deferred income taxes	57		95
Equity earnings of equity method investees	(59)		(75)
Asset (gains) losses and impairments, net	19		(4)
Investing Activities
Plant and equipment expenditures — non-utility	$	(60)	$	(440)
Financing Activities
Acquisition related deferred payment, excluding accretion	$	—	$	(380)