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Segment and Related Information
 9 Months Ended
Sep. 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. Such billing primarily consists of power sales, sale and transportation of natural gas, and renewable natural gas sales in the segments below, as well as charges from Electric to other segments for use of the shared capital assets of DTE Electric. For the prior periods, inter-segment billing also included the sale of reduced emissions fuel at DTE Vantage.
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Electric$19 $17 $53 $48 
Gas4 3 10 10 
DTE Vantage15 125 57 463 
Energy Trading39 9 78 35 
Corporate and Other— 1 — 2 
$77 $155 $198 $558 
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 September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Operating Revenues — Utility operations
Electric$1,844 $1,700 $4,896 $4,468 
Gas230 193 1,358 1,070 
Operating Revenues — Non-utility operations
Electric3 2 11 9 
DTE Vantage227 372 626 1,132 
Energy Trading3,024 1,602 8,059 4,208 
Corporate and Other— 1 — 2 
Reconciliation and Eliminations(a)
(77)(155)(198)(572)
Total$5,251 $3,715 $14,752 $10,317 
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(a)Includes $14 million for the nine months ended September 30, 2021 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 September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment:
Electric$363 $342 $750 $788 
Gas(23)(30)179 146 
DTE Vantage26 73 68 115 
Energy Trading56 (52)(80)(173)
Corporate and Other(35)(275)(99)(381)
Income from Continuing Operations387 58 818 495 
Discontinued Operations— (33)— 106 
Net Income Attributable to DTE Energy Company$387 $25 $818 $601