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Financial and Other Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table presents the fair value of derivative instruments for DTE Energy:


	September 30, 2022				December 31, 2021
	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
	(In millions)
Derivatives designated as hedging instruments
Foreign currency exchange contracts	$	—	$	(1)	$	—	$	(4)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas	$	891	$	(1,193)	$	454	$	(594)
Electricity	1,622		(1,577)		643		(622)
Environmental & Other	238		(225)		294		(288)
Foreign currency exchange contracts	3		—		—		—
Total derivatives not designated as hedging instruments	$	2,754	$	(2,995)	$	1,391	$	(1,504)

Current	$	2,209	$	(2,282)	$	1,035	$	(1,037)
Noncurrent	545		(714)		356		(471)
Total derivatives	$	2,754	$	(2,996)	$	1,391	$	(1,508)

Offsetting Assets

The following table presents net cash collateral offsetting arrangements for DTE Energy:


	September 30, 2022		December 31, 2021
	(In millions)
Cash collateral netted against Derivative assets	$	(272)	$	(90)
Cash collateral netted against Derivative liabilities	278		48
Cash collateral recorded in Accounts receivable(a)	103		55
Cash collateral recorded in Accounts payable(a)	(19)		(21)
Total net cash collateral posted (received)	$	90	$	(8)

_______________________________________

(a)Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:


	September 30, 2022						December 31, 2021
	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(a)
Natural gas	$	891	$	(852)	$	39	$	454	$	(394)	$	60
Electricity	1,622		(1,160)		462		643		(441)		202
Environmental & Other	238		(224)		14		294		(285)		9
Foreign currency exchange contracts	3		—		3		—		—		—
Total derivative assets	$	2,754	$	(2,236)	$	518	$	1,391	$	(1,120)	$	271

Derivative liabilities
Commodity contracts(a)
Natural gas	$	(1,193)	$	772	$	(421)	$	(594)	$	347	$	(247)
Electricity	(1,577)		1,244		(333)		(622)		443		(179)
Environmental & Other	(225)		226		1		(288)		288		—

Foreign currency exchange contracts	(1)		—		(1)		(4)		—		(4)
Total derivative liabilities	$	(2,996)	$	2,242	$	(754)	$	(1,508)	$	1,078	$	(430)

_______________________________________

(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.

Offsetting Liabilities

The following table presents net cash collateral offsetting arrangements for DTE Energy:


	September 30, 2022		December 31, 2021
	(In millions)
Cash collateral netted against Derivative assets	$	(272)	$	(90)
Cash collateral netted against Derivative liabilities	278		48
Cash collateral recorded in Accounts receivable(a)	103		55
Cash collateral recorded in Accounts payable(a)	(19)		(21)
Total net cash collateral posted (received)	$	90	$	(8)

_______________________________________

(a)Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:


	September 30, 2022						December 31, 2021
	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(a)
Natural gas	$	891	$	(852)	$	39	$	454	$	(394)	$	60
Electricity	1,622		(1,160)		462		643		(441)		202
Environmental & Other	238		(224)		14		294		(285)		9
Foreign currency exchange contracts	3		—		3		—		—		—
Total derivative assets	$	2,754	$	(2,236)	$	518	$	1,391	$	(1,120)	$	271

Derivative liabilities
Commodity contracts(a)
Natural gas	$	(1,193)	$	772	$	(421)	$	(594)	$	347	$	(247)
Electricity	(1,577)		1,244		(333)		(622)		443		(179)
Environmental & Other	(225)		226		1		(288)		288		—

Foreign currency exchange contracts	(1)		—		(1)		(4)		—		(4)
Total derivative liabilities	$	(2,996)	$	2,242	$	(754)	$	(1,508)	$	1,078	$	(430)

_______________________________________

(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.

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:


	September 30, 2022								December 31, 2021
	Derivative Assets				Derivative Liabilities				Derivative Assets				Derivative Liabilities
	Current		Noncurrent		Current		Noncurrent		Current		Noncurrent		Current		Noncurrent
	(In millions)
Total fair value of derivatives	$	2,209	$	545	$	(2,282)	$	(714)	$	1,035	$	356	$	(1,037)	$	(471)
Counterparty netting	(1,609)		(355)		1,609		355		(791)		(239)		791		239
Collateral adjustment	(205)		(67)		175		103		(63)		(27)		8		40
Total derivatives as reported	$	395	$	123	$	(498)	$	(256)	$	181	$	90	$	(238)	$	(192)

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 September 30,				Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
		2022		2021		2022		2021
		(In millions)
Commodity contracts
Natural gas	Operating Revenues — Non-utility operations	$	(52)	$	(214)	$	(315)	$	(371)
Natural gas	Fuel, purchased power, gas, and other — non-utility	108		63		8		(16)
Electricity	Operating Revenues — Non-utility operations	61		68		173		143
Environmental & Other	Operating Revenues — Non-utility operations	(3)		3		15		(36)
Foreign currency exchange contracts	Operating Revenues — Non-utility operations	5		2		5		(1)
Total		$	119	$	(78)	$	(114)	$	(281)

Volume of Commodity Contracts

The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2022:


Commodity						Number of Units
Natural gas (MMBtu)						2,218,333,992
Electricity (MWh)						30,593,651
Oil (Gallons)						8,532,000
Foreign currency exchange ($ CAD)						132,812,314

Renewable Energy Certificates (MWh)						7,816,573
Carbon emissions (Metric Tons)						592,605