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Segment and Related Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment and Related Information SEGMENT AND RELATED INFORMATION
DTE Energy sets strategic goals, allocates resources, and evaluates performance based on the following structure:
Electric segment consists principally of DTE Electric, which is engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan.
Gas segment consists principally of DTE Gas, which is engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million residential, commercial, and industrial customers throughout Michigan and the sale of storage and transportation capacity.
DTE Vantage is comprised primarily of renewable energy projects that sell electricity and pipeline-quality gas and projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers. DTE Vantage formerly included projects that produced reduced emissions fuel; however, these projects were closed as planned in 2022 upon REF facilities exhausting their eligibility for generating production tax credits.
Energy Trading consists of energy marketing and trading operations.
Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds certain investments, including funds supporting regional development and economic growth.
On July 1, 2021, DTE Energy completed the separation of DT Midstream, which was comprised of the former Gas Storage and Pipelines segment and also certain holding company activity within the Corporate and Other segment. Amounts relating to DT Midstream have been classified as discontinued operations, and Gas Storage and Pipelines is no longer a reportable segment of DTE Energy. Refer to Note 4 to the Consolidated Financial Statements, “Discontinued Operations,” for additional information.
Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider and primarily consists of power sales, natural gas sales, and renewable natural gas sales in the segments below. For the prior periods, inter-segment billing also included the sale of reduced emissions fuel at DTE Vantage.
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
(In millions)
Electric$18 $15 $34 $31 
Gas3 3 6 7 
DTE Vantage17 176 42 338 
Energy Trading22 13 39 26 
Corporate and Other— — — 1 
$60 $207 $121 $403 
All inter-segment transactions and balances are eliminated in consolidation for DTE Energy. Centrally incurred costs such as labor and overheads are assigned directly to DTE Energy's business segments or allocated based on various cost drivers, depending on the nature of service provided.
The federal income tax provisions or benefits of DTE Energy’s subsidiaries are determined on an individual company basis and recognize the tax benefit of tax credits and net operating losses, if applicable. The state and local income tax provisions of the utility subsidiaries are also determined on an individual company basis and recognize the tax benefit of various tax credits and net operating losses, if applicable. The subsidiaries record federal, state, and local income taxes payable to or receivable from DTE Energy based on the federal, state, and local tax provisions of each company.
Financial data of DTE Energy's business segments follows:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
(In millions)
Operating Revenues — Utility operations
Electric$1,566 $1,408 $3,052 $2,768 
Gas362 265 1,128 877 
Operating Revenues — Non-utility operations
Electric4 3 8 7 
DTE Vantage220 394 399 760 
Energy Trading2,832 1,167 5,035 2,606 
Corporate and Other— — — 1 
Reconciliation and Eliminations(a)
(60)(216)(121)(417)
Total$4,924 $3,021 $9,501 $6,602 
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(a)Includes $9 million and $14 million for the three and six months ended June 30, 2021, respectively, for eliminations related to DTE Energy's former Gas Storage and Pipelines segment that remain in continuing operations. Eliminations for these revenues are offset by related cost eliminations and have no impact on DTE Energy net income.
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment:
Electric$186 $238 $387 $446 
Gas6 7 202 176 
DTE Vantage28 14 42 42 
Energy Trading(127)(66)(136)(121)
Corporate and Other(56)(76)(64)(106)
Income from Continuing Operations Attributable to DTE Energy Company37 117 431 437 
Discontinued Operations— 62 — 139 
Net Income Attributable to DTE Energy Company$37 $179 $431 $576