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Financial and Other Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table presents the fair value of derivative instruments for DTE Energy:
December 31, 2023December 31, 2022
Derivative
Assets		Derivative
Liabilities		Derivative
Assets		Derivative
Liabilities
(In millions)
Derivatives designated as hedging instruments
Interest rate contracts$— $(16)$1 $— 
Foreign currency exchange contracts— (2)— (2)
Total derivatives designated as hedging instruments$— $(18)$1 $(2)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$637 $(615)$744 $(1,018)
Electricity421 (388)963 (935)
Environmental & Other139 (150)213 (214)
Foreign currency exchange contracts— (1)1 — 
Total derivatives not designated as hedging instruments$1,197 $(1,154)$1,921 $(2,167)
Current$910 $(847)$1,517 $(1,535)
Noncurrent287 (325)405 (634)
Total derivatives$1,197 $(1,172)$1,922 $(2,169)
Offsetting Assets
The following table presents net cash collateral offsetting arrangements for DTE Energy:
December 31,
20232022
(In millions)
Cash collateral netted against Derivative assets$— $(90)
Cash collateral netted against Derivative liabilities72 113 
Cash collateral recorded in Accounts receivable(a)
57 77 
Cash collateral recorded in Accounts payable(a)
(3)(27)
Total net cash collateral posted (received)$126 $73 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
December 31, 2023December 31, 2022
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts
Natural gas$637 $(416)$221 $744 $(649)$95 
Electricity421 (243)178 963 (643)320 
Environmental & Other139 (132)7 213 (196)17 
Interest rate contracts— — — 1 — 1 
Foreign currency exchange contracts— — — 1 (1)— 
Total derivative assets$1,197 $(791)$406 $1,922 $(1,489)$433 
Derivative liabilities
Commodity contracts
Natural gas$(615)$429 $(186)$(1,018)$645 $(373)
Electricity(388)297 (91)(935)665 (270)
Environmental & Other(150)137 (13)(214)201 (13)
Interest rate contracts(16)— (16)— — — 
Foreign currency exchange contracts(3)— (3)(2)1 (1)
Total derivative liabilities$(1,172)$863 $(309)$(2,169)$1,512 $(657)
Offsetting Liabilities
The following table presents net cash collateral offsetting arrangements for DTE Energy:
December 31,
20232022
(In millions)
Cash collateral netted against Derivative assets$— $(90)
Cash collateral netted against Derivative liabilities72 113 
Cash collateral recorded in Accounts receivable(a)
57 77 
Cash collateral recorded in Accounts payable(a)
(3)(27)
Total net cash collateral posted (received)$126 $73 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
December 31, 2023December 31, 2022
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts
Natural gas$637 $(416)$221 $744 $(649)$95 
Electricity421 (243)178 963 (643)320 
Environmental & Other139 (132)7 213 (196)17 
Interest rate contracts— — — 1 — 1 
Foreign currency exchange contracts— — — 1 (1)— 
Total derivative assets$1,197 $(791)$406 $1,922 $(1,489)$433 
Derivative liabilities
Commodity contracts
Natural gas$(615)$429 $(186)$(1,018)$645 $(373)
Electricity(388)297 (91)(935)665 (270)
Environmental & Other(150)137 (13)(214)201 (13)
Interest rate contracts(16)— (16)— — — 
Foreign currency exchange contracts(3)— (3)(2)1 (1)
Total derivative liabilities$(1,172)$863 $(309)$(2,169)$1,512 $(657)
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:
December 31, 2023December 31, 2022
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$910 $287 $(847)$(325)$1,517 $405 $(1,535)$(634)
Counterparty netting(613)(178)613 178 (1,127)(272)1,127 272 
Collateral adjustment— — 57 15 (62)(28)66 47 
Total derivatives as reported$297 $109 $(177)$(132)$328 $105 $(342)$(315)
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 DerivativesGain (Loss) Recognized in Income on Derivatives for Years Ended December 31,
202320222021
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations $153 $(235)$(224)
Natural gasFuel, purchased power, gas, and other — non-utility122 (108)(89)
ElectricityOperating Revenues — Non-utility operations 105 221 169 
Environmental & OtherOperating Revenues — Non-utility operations 5 13 (40)
Foreign currency exchange contractsOperating Revenues — Non-utility operations (2)3 — 
Total$383 $(106)$(184)
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of December 31, 2023:
CommodityNumber of Units
Natural gas (MMBtu)2,201,557,616 
Electricity (MWh)40,542,536 
Oil (Gallons)4,272,000 
Foreign currency exchange ($ CAD)127,326,648 
FTR (MWh)66,064 
Renewable Energy Certificates (MWh)10,242,908 
Carbon emissions (Metric Ton)746,400 
Interest rate contracts ($ USD)1,200,000,000 
Treasury Lock ($ USD)500,000,000