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Financial and Other Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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


	June 30, 2022				December 31, 2021
	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
	(In millions)
Derivatives designated as hedging instruments
Foreign currency exchange contracts	$	—	$	(3)	$	—	$	(4)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas	$	902	$	(1,266)	$	454	$	(594)
Electricity	1,960		(1,918)		643		(622)
Environmental & Other	367		(343)		294		(288)
Foreign currency exchange contracts	—		—		—		—
Total derivatives not designated as hedging instruments	$	3,229	$	(3,527)	$	1,391	$	(1,504)

Current	$	2,583	$	(2,653)	$	1,035	$	(1,037)
Noncurrent	646		(877)		356		(471)
Total derivatives	$	3,229	$	(3,530)	$	1,391	$	(1,508)

Offsetting Assets

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


	June 30, 2022		December 31, 2021
	(In millions)
Cash collateral netted against Derivative assets	$	(367)	$	(90)
Cash collateral netted against Derivative liabilities	424		48
Cash collateral recorded in Accounts receivable(a)	123		55
Cash collateral recorded in Accounts payable(a)	(55)		(21)
Total net cash collateral posted (received)	$	125	$	(8)

_______________________________________

(a)Amounts are recorded net by counterparty.

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


	June 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
Natural gas	$	902	$	(883)	$	19	$	454	$	(394)	$	60
Electricity	1,960		(1,529)		431		643		(441)		202
Environmental & Other	367		(341)		26		294		(285)		9

Total derivative assets	$	3,229	$	(2,753)	$	476	$	1,391	$	(1,120)	$	271

Derivative liabilities
Commodity contracts
Natural gas	$	(1,266)	$	766	$	(500)	$	(594)	$	347	$	(247)
Electricity	(1,918)		1,700		(218)		(622)		443		(179)
Environmental & Other	(343)		344		1		(288)		288		—

Foreign currency exchange contracts	(3)		—		(3)		(4)		—		(4)
Total derivative liabilities	$	(3,530)	$	2,810	$	(720)	$	(1,508)	$	1,078	$	(430)

Offsetting Liabilities

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


	June 30, 2022		December 31, 2021
	(In millions)
Cash collateral netted against Derivative assets	$	(367)	$	(90)
Cash collateral netted against Derivative liabilities	424		48
Cash collateral recorded in Accounts receivable(a)	123		55
Cash collateral recorded in Accounts payable(a)	(55)		(21)
Total net cash collateral posted (received)	$	125	$	(8)

_______________________________________

(a)Amounts are recorded net by counterparty.

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


	June 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
Natural gas	$	902	$	(883)	$	19	$	454	$	(394)	$	60
Electricity	1,960		(1,529)		431		643		(441)		202
Environmental & Other	367		(341)		26		294		(285)		9

Total derivative assets	$	3,229	$	(2,753)	$	476	$	1,391	$	(1,120)	$	271

Derivative liabilities
Commodity contracts
Natural gas	$	(1,266)	$	766	$	(500)	$	(594)	$	347	$	(247)
Electricity	(1,918)		1,700		(218)		(622)		443		(179)
Environmental & Other	(343)		344		1		(288)		288		—

Foreign currency exchange contracts	(3)		—		(3)		(4)		—		(4)
Total derivative liabilities	$	(3,530)	$	2,810	$	(720)	$	(1,508)	$	1,078	$	(430)

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:


	June 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	$	2,583	$	646	$	(2,653)	$	(877)	$	1,035	$	356	$	(1,037)	$	(471)
Counterparty netting	(1,907)		(479)		1,907		479		(791)		(239)		791		239
Collateral adjustment	(304)		(63)		310		114		(63)		(27)		8		40
Total derivatives as reported	$	372	$	104	$	(436)	$	(284)	$	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 June 30,				Gain (Loss) Recognized in Income on Derivatives for the Six Months Ended June 30,
		2022		2021		2022		2021
		(In millions)
Commodity contracts
Natural gas	Operating Revenues — Non-utility operations	$	(32)	$	(114)	$	(263)	$	(157)
Natural gas	Fuel, purchased power, gas, and other — non-utility	(165)		(24)		(100)		(79)
Electricity	Operating Revenues — Non-utility operations	110		42		112		75
Environmental & Other	Operating Revenues — Non-utility operations	22		(7)		18		(39)
Foreign currency exchange contracts	Operating Revenues — Non-utility operations	2		(1)		—		(3)
Total		$	(63)	$	(104)	$	(233)	$	(203)

Volume of Commodity Contracts

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


Commodity						Number of Units
Natural gas (MMBtu)						2,367,896,824
Electricity (MWh)						37,254,286
Oil (Gallons)						9,480,000
Foreign currency exchange ($ CAD)						107,911,226

Renewable Energy Certificates (MWh)						9,100,840
Carbon emissions (Metric Tons)						447,324