Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

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

	Interest Rate(a)	Maturity Date	2022		2021
			(In millions)
Mortgage bonds, notes, and other
DTE Energy debt, unsecured	3.4%	2023 — 2030	$	5,105	$	5,555
DTE Electric debt, principally secured	3.7%	2023 — 2052	9,572		8,988
DTE Gas debt, principally secured	4.0%	2023 — 2052	2,325		2,065
			17,002		16,608
Unamortized debt discount			(26)		(23)
Unamortized debt issuance costs			(92)		(90)
Long-term debt due within one year			(1,077)		(2,866)
			$	15,807	$	13,629
Securitization bonds(b)
DTE Electric securitization bonds	2.8%	2027 — 2036	$	215	$	—
Unamortized debt issuance costs			(4)
Long-term debt due within one year			(39)		—
			$	172	$	—
Junior Subordinated Debentures
Subordinated debentures	4.8%	2077 — 2081	$	910	$	910
Unamortized debt issuance costs			(27)		(27)
			$	883	$	883

_______________________________________

(a)Weighted average interest rate as of December 31, 2022.

(b)Bonds are held by DTE Securitization, a special purpose entity consolidated by DTE Electric. Refer to Note 1 to the Consolidated Financial Statements, “Organization and Basis of Presentation,” for additional information regarding DTE Securitization and restrictions related to these bonds.

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

	Interest Rate(a)	Maturity Date	2022		2021
			(In millions)
Mortgage bonds, notes, and other
Long-term debt, principally secured	3.7%	2023 — 2052	$	9,572	$	8,988
Unamortized debt discount			(22)		(19)
Unamortized debt issuance costs			(65)		(62)
Long-term debt due within one year			(203)		(316)
			$	9,282	$	8,591
Securitization bonds(b)
DTE Electric securitization bonds	2.8%	2027 — 2036	$	215	$	—
Unamortized debt issuance costs			(4)
Long-term debt due within one year			(39)		—
			$	172	$	—

_______________________________________

(a)Weighted average interest rate as of December 31, 2022.

(b)Bonds are held by DTE Securitization, a special purpose entity consolidated by DTE Electric. Refer to Note 1 to the Consolidated Financial Statements, “Organization and Basis of Presentation,” for additional information regarding DTE Securitization and restrictions related to these bonds.

Schedule of Debt Issued

In 2022, the following debt was issued:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	February	Mortgage bonds(a)	3.00%	2032	$	500
DTE Electric	February	Mortgage bonds(b)	3.65%	2052	400
DTE Electric	March	Securitization bonds(c)	2.64%	2027(d)	184
DTE Electric	March	Securitization bonds(c)	3.11%	2036(e)	52
DTE Energy	August	Term loan facility draw	Variable	2023	400
DTE Gas	September	Mortgage bonds(a)	4.76%	2032	130
DTE Gas	September	Mortgage bonds(a)	5.05%	2052	130
DTE Energy	November	Term loan facility draw	Variable	2023	200
DTE Energy	December	Term loan facility draw	Variable	2023	200
					$	2,196

_______________________________________

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

(b)Bonds were issued as Green Bonds with proceeds to be used for eligible green expenditures, including costs related to the generation of solar and wind energy, purchases of renewable energy from wind and solar power facilities, and energy optimization programs.

(c)Proceeds were used to reimburse DTE Electric for qualified costs previously incurred, including the net book value of the River Rouge generation plant, tree trimming surge program costs, and other qualified costs. The securitization financing order from the MPSC required that the net proceeds be subsequently applied by DTE Electric to retire existing debt or equity. Accordingly, DTE Electric used proceeds of $115 million towards retirement of the 2012 Series A Mortgage bonds noted in the Debt Redemptions table below and issued a one-time special dividend of $115 million to DTE Energy. Refer to Note 9 to the Consolidated Financial Statements, “Regulatory Matters,” for additional information.

(d)Principal payments on the bonds are being made semi-annually beginning December 2022, with the final payment scheduled for December 2026.

(e)Principal payments on the bonds will be made semi-annually beginning June 2027, with the final payment scheduled for December 2035.

Schedule of Debt Redeemed

In 2022, the following debt was redeemed:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	March	Mortgage bonds	2.65%	2022	$	250
DTE Electric	September	Mortgage bonds	6.95%	2022	66
DTE Energy	November	Senior Notes	2.25%	2022	500
DTE Energy	November	Senior Notes	0.55%	2022	750
DTE Electric	December	Securitization Bonds	2.64%	2022	21
					$	1,587

Schedule of Maturities of Long-term Debt

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

	2023		2024		2025		2026		2027		2028 and Thereafter		Total
	(In millions)
DTE Energy(a)(b)	$	1,116	$	2,416	$	1,261	$	819	$	196	$	12,319	$	18,127
DTE Electric(b)	$	242	$	440	$	391	$	219	$	5	$	8,490	$	9,787

_______________________________________

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

(b)Amounts include DTE Securitization 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:

	2023		2024		2025		2026		2027		2028 and Thereafter		Total
	(In millions)
DTE Energy(a)(b)	$	669	$	601	$	511	$	495	$	469	$	7,712	$	10,457
DTE Electric(b)	$	357	$	340	$	325	$	316	$	310	$	4,375	$	6,023

_______________________________________

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

(b)Amounts include DTE Securitization scheduled interest payments.