Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

DTE Energy's long-term debt outstanding and weighted average interest rates of debt outstanding at December 31 were:

	Interest Rate(a)	Maturity Date	2021		2020
			(In millions)
Mortgage bonds, notes, and other
DTE Energy Debt, Unsecured	2.1%	2022 — 2030	$	5,555	$	8,175
DTE Electric Debt, Principally Secured	3.7%	2022 — 2051	8,988		8,308
DTE Gas Debt, Principally Secured	3.9%	2023 — 2051	2,065		1,910
			16,608		18,393
Unamortized debt discount			(23)		(25)
Unamortized debt issuance costs			(90)		(104)
Long-term debt due within one year			(2,866)		(462)
			$	13,629	$	17,802
Junior Subordinated Debentures
Subordinated Debentures	4.8%	2077 — 2081	$	910	$	1,210
Unamortized debt issuance costs			(27)		(35)
			$	883	$	1,175

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(a)Weighted average interest rate as of December 31, 2021.

DTE Electric's long-term debt outstanding and weighted average interest rates of debt outstanding at December 31 were:

	Interest Rate(a)	Maturity Date	2021		2020
			(In millions)
Mortgage bonds, notes, and other
Long Term Debt, Principally Secured	3.7%	2022 — 2051	$	8,988	$	8,308
Unamortized debt discount			(19)		(16)
Unamortized debt issuance costs			(62)		(56)
Long-term debt due within one year			(316)		(462)
			$	8,591	$	7,774

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(a)Weighted average interest rate as of December 31, 2021.

Selected information about DTE Energy’s equity units is presented below:

Issuance Date	Units Issued	Total Net Proceeds		Total Long-Term Debt		RSN Annual Interest Rate	Stock Purchase Contract Annual Rate	Stock Purchase Settlement Date	Stock Purchase Contract Liability(a)		RSN Maturity Date
(In millions, except interest rates)
11/1/19	26	$	1,265	$	1,300	2.25%	4.0%	11/1/2022	$	150	11/1/2025

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(a)Payments of $50 million and $49 million were made in 2021 and 2020, respectively. The stock purchase contract liability was $51 million and $101 million as of December 31, 2021 and 2020, respectively, exclusive of interest.

Schedule of Issued Debt

In 2021, the following debt was issued:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	March	Mortgage bonds(a)	1.90%	2028	$	575
DTE Electric	March	Mortgage bonds(a)	3.25%	2051	425
DT Midstream	June	Senior notes(b)	4.125%	2029	1,100
DT Midstream	June	Senior notes(b)	4.375%	2031	1,000
DT Midstream	June	Term loan facility(b)	Variable	2028	1,000
DTE Gas	November	Mortgage bonds(c)	2.07%	2031	60
DTE Gas	November	Mortgage bonds(c)	2.85%	2051	95
DTE Energy	November	Junior subordinated debentures(d)	4.375%	2081	280
					$	4,535

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(a)Bonds were issued as Green Bonds and the proceeds will be used to finance qualified expenditures for solar and wind energy, payments under power purchase agreements for solar and wind energy, and energy optimization programs.

(b)Proceeds used for the repayment of short-term borrowings due to DTE Energy to facilitate the separation of DT Midstream, as well as a one-time special dividend provided to DTE Energy. The debt was transferred to DT Midstream upon its separation on July 1, 2021. Refer to Note 4 to the Consolidated Financial Statements, “Dispositions and Impairments,” for additional information and to the Debt Redemptions section below for DTE Energy's use of the proceeds received from DT Midstream.

(c)Proceeds used for the repayment of short-term borrowings and general corporate purposes, including capital expenditures.

(d)Proceeds used for the repayment of $280 million of DTE Energy's 2016 Series F 6.00% Junior Subordinated Debentures due 2076.

Schedule of Debt Redeemed

In 2021, the following debt was redeemed:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	April	Mortgage bonds	3.90%	2021	$	250
DTE Electric	May	Mortgage bonds	7.00%	2021	33
DTE Energy	June	Junior subordinated debentures(a)	5.375%	2076	300
DTE Energy	July	Senior notes	3.30%	2022	300
DTE Energy	July	Senior notes	2.60%	2022	300
DTE Energy	July	Senior notes	3.70%	2023	600
DTE Energy	July	Senior notes	3.85%	2023	135
DTE Energy	July	Senior notes	3.50%	2024	350
DTE Energy	July	Senior notes	3.80%	2027	350
DTE Energy	July	Senior notes	3.40%	2029	21
DTE Energy	July	Senior notes	6.375%	2033	191
DTE Energy	August	Senior notes	3.85%	2023	165
DTE Energy	August	Senior notes	6.375%	2033	209
DTE Electric	August	Mortgage bonds	6.90%	2021	38
DTE Energy	December	Junior subordinated debentures(a)	6.00%	2076	280
					$	3,522

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(a)Early redemptions and the write-off of unamortized issuance costs resulted in a total loss on extinguishment of debt of $17 million for the year ended December 31, 2021, including $8 million for the June redemption and $9 million for the December redemption.

Schedule of Maturities of Long-term Debt

The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount on debt:

	2022		2023		2024		2025		2026		2027 and Thereafter		Total
	(In millions)
DTE Energy(a)	$	2,866	$	277	$	1,075	$	1,220	$	777	$	11,302	$	17,517
DTE Electric	$	316	$	202	$	400	$	350	$	177	$	7,543	$	8,988

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(a)Amounts include DTE Electric's scheduled debt maturities.

Scheduled Interest Payments Related to Long-term Debt

The following table shows scheduled interest payments related to the Registrants' long-term debt:

	2022		2023		2024		2025		2026		2027 and Thereafter		Total
	(In millions)
DTE Energy(a)	$	575	$	548	$	529	$	494	$	450	$	7,510	$	10,106
DTE Electric	$	330	$	322	$	305	$	292	$	284	$	4,222	$	5,755

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(a)Amounts include DTE Electric's scheduled interest payments.