Revenue

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Disaggregation of Revenue

The following is a summary of revenues disaggregated by segment for DTE Energy:

	Three Months Ended March 31,
	2024		2023
	(In millions)
Electric(a)
Residential	$	700	$	654
Commercial	556		495
Industrial	183		169
Other(b)	31		61
Total Electric operating revenues	$	1,470	$	1,379
Gas
Gas sales	$	565	$	601
End User Transportation	82		86
Intermediate Transportation	29		31
Other(b)	35		(11)
Total Gas operating revenues	$	711	$	707
Other segment operating revenues
DTE Vantage	$	184	$	184
Energy Trading	$	933	$	1,568

_______________________________________

(a)Revenues generally represent those of DTE Electric, except $4 million of Other revenues related to DTE Sustainable Generation for both the three months ended March 31, 2024 and 2023.

(b)Includes revenue adjustments related to various regulatory mechanisms, including the PSCR at the Electric segment and GCR at the Gas segment. Revenues related to these mechanisms may vary based on changes in the cost of fuel, purchased power, and gas.

Revenues included the following which were outside the scope of Topic 606:

	Three Months Ended March 31,
	2024		2023
	(In millions)
Electric — Other revenues	$	4	$	5
Gas — Alternative Revenue Programs	$	6	$	3
Gas — Other revenues	$	2	$	3
DTE Vantage — Leases	$	14	$	15
Energy Trading — Derivatives	$	659	$	1,161

Deferred Revenue

The following is a summary of deferred revenue activity for DTE Energy:

	Three Months Ended March 31,
	2024		2023
	(In millions)
Beginning Balance, January 1	$	106	$	94
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	35		27
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(25)		(34)
Ending Balance, March 31	$	116	$	87

Deferred revenues are included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position. Deferred revenues generally represent amounts paid by or receivables from customers for which the associated performance obligation has not yet been satisfied. Deferred revenues include amounts associated with REC performance obligations under certain wholesale full requirements power contracts. Deferred revenues associated with RECs are recognized as revenue when control of the RECs has transferred. Other performance obligations associated with deferred revenues include providing products and services related to customer prepayments. Deferred revenues associated with these products and services are recognized when control has transferred to the customer.

The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:

	DTE Energy
	(In millions)
2024	$	108
2025	7
2026	1
2027	—
2028	—
2029 and thereafter	—
	$	116

Transaction Price Allocated to the Remaining Performance Obligations

In accordance with optional exemptions available under Topic 606, the Registrants did not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Registrants have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation.

Such contracts consist of varying types of performance obligations across the segments, including the supply and delivery of energy related products and services. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Contract lengths vary from cancellable to multi-year.

The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:

	DTE Energy		DTE Electric
	(In millions)
2024	$	191	$	6
2025	207		1
2026	126		—
2027	94		—
2028	63		—
2029 and thereafter	323		—
	$	1,004	$	7