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Retirement Benefits and Trusteed Assets (Tables)
12 Months Ended
Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
The table below represents the pension and other postretirement benefit plans of each Registrant at December 31, 2021:
Registrants
DTE EnergyDTE Electric
Qualified Pension Plans
DTE Energy Company Retirement PlanXX
DTE Gas Company Retirement Plan for Employees Covered by Collective Bargaining AgreementsX
Shenango Inc. Pension Plan(a)
X
Non-qualified Pension Plans
DTE Energy Company Supplemental Retirement Plan(b)
XX
DTE Energy Company Executive Supplemental Retirement Plan(b)
XX
DTE Energy Company Supplemental Severance Benefit PlanX
Other Postretirement Benefit Plans
The DTE Energy Company Comprehensive Non-Health Welfare PlanXX
The DTE Energy Company Comprehensive Retiree Group Health Care PlanXX
DTE Supplemental Retiree Benefit PlanXX
DTE Energy Company Retiree Reimbursement Arrangement PlanXX
_____________________________________
(a)Sponsored by Shenango, LLC
(b)Sponsored by DTE Energy Company
Pension Plan  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
The following table reconciles the obligations, assets, and funded status of the plans as well as the amounts recognized as prepaid pension cost or pension liability in DTE Energy's Consolidated Statements of Financial Position at December 31:
DTE Energy
20212020
(In millions)
Accumulated benefit obligation, end of year$5,448 $5,843 
Change in projected benefit obligation
Projected benefit obligation, beginning of year$6,304 $5,810 
Service cost108 99 
Interest cost158 186 
Plan amendments4 — 
Actuarial (gain) loss(255)619 
Special termination benefits 
Benefits paid(414)(353)
Settlements(48)(60)
Projected benefit obligation, end of year$5,857 $6,304 
Change in plan assets
Plan assets at fair value, beginning of year$5,497 $4,993 
Actual return on plan assets460 815 
Company contributions12 102 
Benefits paid(414)(353)
Settlements(48)(60)
Plan assets at fair value, end of year$5,507 $5,497 
Funded status$(350)$(807)
Amount recorded as:
Current liabilities$(11)$(10)
Noncurrent liabilities(339)(797)
$(350)$(807)
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax
Net actuarial loss$126 $142 
Prior service cost1 
$127 $145 
Amounts recognized in Regulatory assets(a)
Net actuarial loss$1,381 $1,949 
Prior service credit(9)(11)
$1,372 $1,938 
______________________________________
(a)See Note 9 to the Consolidated Financial Statements, "Regulatory Matters."
The following table provides a summary of annual contributions to the qualified plans:
202120202019
(In millions)
DTE Energy$ $92 $150 
DTE Electric$ $60 $100 
Schedule of Net Benefit Costs
Net pension cost for DTE Energy includes the following components:
202120202019
(In millions)
Service cost$108 $99 $84 
Interest cost158 186 219 
Expected return on plan assets(339)(334)(325)
Amortization of:
Net actuarial loss196 171 131 
Prior service cost 
Settlements16 25 
Net pension cost$139 $148 $112 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
20212020
(In millions)
Other changes in plan assets and benefit obligations recognized in Regulatory assets and Other comprehensive income (loss)
Net actuarial (gain) loss$(376)$137 
Amortization of net actuarial loss(209)(193)
Prior service cost4 — 
Amortization of prior service cost(3)(1)
Total recognized in Regulatory assets and Other comprehensive income (loss)$(584)$(57)
Total recognized in net periodic pension cost, Regulatory assets, and Other comprehensive income (loss)$(445)$91 
Schedule of Expected Benefit Payments
At December 31, 2021, the benefits related to DTE Energy's qualified and non-qualified pension plans expected to be paid in each of the next five years and in the aggregate for the five fiscal years thereafter are as follows:
(In millions)
2022$346 
2023360 
2024341 
2025350 
2026346 
2027-20311,723 
Total$3,466 
Schedule of Assumptions Used
Assumptions used in determining the projected benefit obligation and net pension costs of DTE Energy are:
202120202019
Projected benefit obligation
Discount rate2.91%2.57%3.28%
Rate of compensation increase3.80%3.80%3.85%
Cash balance interest crediting rate2.40%2.00%3.30%
Net pension costs
Discount rate2.57%3.28%4.40%
Rate of compensation increase3.80%3.85%3.85%
Expected long-term rate of return on plan assets7.00%7.10%7.30%
Cash balance interest crediting rate2.00%3.30%3.70%
Schedule of Allocation of Plan Assets
Target allocations for DTE Energy's pension plan assets as of December 31, 2021 are listed below:
U.S. Large Capitalization (Cap) Equity Securities13 %
U.S. Small Cap and Mid Cap Equity Securities
Non-U.S. Equity Securities13 
Fixed Income Securities48 
Hedge Funds and Similar Investments11 
Private Equity and Other12 
100 %
The following tables provide the fair value measurement amounts for DTE Energy's pension plan assets at December 31, 2021 and 2020(a):
December 31, 2021December 31, 2020
Level 1Level 2
Other(b)
TotalLevel 1Level 2
Other(b)
Total
DTE Energy asset category:(In millions)
Short-term Investments(c)
$112 $ $ $112 $92 $— $— $92 
Equity Securities
Domestic(d)
155  758 913 167 — 1,093 1,260 
International(e)
88  588 676 100 — 791 891 
Fixed Income Securities
Governmental(f)
943 83  1,026 459 95 — 554 
Corporate(g)
 1,466  1,466 — 1,404 — 1,404 
Hedge Funds and Similar Investments(h)
139 63 365 567 238 61 411 710 
Private Equity and Other(i)
  747 747 — — 586 586 
DTE Energy Total$1,437 $1,612 $2,458 $5,507 $1,056 $1,560 $2,881 $5,497 
_______________________________________
(a)For a description of levels within the fair value hierarchy, see Note 12 to the Consolidated Financial Statements, "Fair Value."
(b)Amounts represent assets valued at NAV as a practical expedient for fair value.
(c)This category predominantly represents certain short-term fixed income securities and money market investments that are managed in separate accounts or commingled funds. Pricing for investments in this category are obtained from quoted prices in actively traded markets.
(d)This category represents portfolios of large, medium and small capitalization domestic equities. Investments in this category include exchange-traded securities for which unadjusted quoted prices can be obtained and exchange-traded securities held in a commingled fund classified as NAV assets.
(e)This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category include exchange-traded securities for which unadjusted quoted prices can be obtained and exchange-traded securities held in a commingled fund classified as NAV assets.
(f)This category includes U.S. Treasuries, bonds, and other governmental debt. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services.
(g)This category primarily consists of corporate bonds from diversified industries, bank loans, and mortgage backed securities. Pricing for investments in this category is obtained from quotations from broker or pricing services.
(h)This category utilizes a diversified group of strategies that attempt to capture uncorrelated sources of return and includes publicly traded mutual funds, insurance-linked and asset-backed securities, commingled funds and limited partnership funds. Pricing for mutual funds in this category is obtained from quoted prices in actively traded markets. Pricing for insurance-linked and asset-backed securities is obtained from quotations. from broker or pricing services. Commingled funds and limited partnership funds are classified as NAV assets.
(i)This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in private real estate and private debt. All investments in this category are classified as NAV assets.
Other postretirement benefit plan  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
The following table reconciles the obligations, assets, and funded status of the plans including amounts recorded as Accrued postretirement liability in the Registrants' Consolidated Statements of Financial Position at December 31:
DTE EnergyDTE Electric
2021202020212020
(In millions)
Change in accumulated postretirement benefit obligation
Accumulated postretirement benefit obligation, beginning of year$1,807 $1,751 $1,369 $1,337 
Service cost30 26 23 20 
Interest cost46 56 35 43 
Plan amendments1 —  — 
Actuarial (gain) loss(100)54 (73)31 
Benefits paid(82)(80)(61)(62)
Accumulated postretirement benefit obligation, end of year$1,702 $1,807 $1,293 $1,369 
Change in plan assets
Plan assets at fair value, beginning of year$1,960 $1,819 $1,320 $1,236 
Actual return on plan assets142 220 96 145 
Benefits paid(81)(79)(61)(61)
Plan assets at fair value, end of year$2,021 $1,960 $1,355 $1,320 
Funded status$319 $153 $62 $(49)
Amount recorded as:
Noncurrent assets$678 $561 $402 $335 
Current liabilities(1)(1) — 
Noncurrent liabilities(358)(407)(340)(384)
$319 $153 $62 $(49)
Amounts recognized in Accumulated other comprehensive income (loss), pre-tax
Net actuarial gain$(1)$(7)$ $— 
Amounts recognized in Regulatory assets(a)
Net actuarial loss$102 $234 $61 $156 
Prior service credit(49)(69)(34)(48)
$53 $165 $27 $108 
______________________________________
(a)See Note 9 to the Consolidated Financial Statements, "Regulatory Matters."
Schedule of Net Benefit Costs
Net other postretirement credit for DTE Energy includes the following components:
202120202019
(In millions)
Service cost$30 $26 $22 
Interest cost46 56 70 
Expected return on plan assets(129)(128)(96)
Amortization of:
Net actuarial loss13 16 12 
Prior service credit(19)(19)(9)
Net other postretirement credit$(59)$(49)$(1)
Net other postretirement credit for DTE Electric includes the following components:
202120202019
(In millions)
Service cost$23 $20 $16 
Interest cost35 43 53 
Expected return on plan assets(86)(87)(65)
Amortization of:
Net actuarial loss11 11 
Prior service credit(14)(14)(7)
Net other postretirement cost (credit)$(31)$(27)$
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
20212020
(In millions)
Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets and Other comprehensive income (loss)
Net actuarial gain$(113)$(38)
Amortization of net actuarial loss(13)(16)
Prior service cost1 — 
Amortization of prior service credit19 19 
Total recognized in Regulatory assets and Other comprehensive income (loss)$(106)$(35)
Total recognized in net periodic benefit cost, Regulatory assets, and Other comprehensive income (loss)$(165)$(84)
20212020
(In millions)
Other changes in plan assets and accumulated postretirement benefit obligation recognized in Regulatory assets
Net actuarial gain$(84)$(26)
Amortization of net actuarial loss(11)(11)
Amortization of prior service credit14 14 
Total recognized in Regulatory assets$(81)$(23)
Total recognized in net periodic benefit cost and Regulatory assets$(112)$(50)
Schedule of Expected Benefit Payments
At December 31, 2021, the benefits expected to be paid, including prescription drug benefits, in each of the next five years and in the aggregate for the five fiscal years thereafter for the Registrants are as follows:
DTE EnergyDTE Electric
(In millions)
2022$85 $64 
202389 68 
202491 69 
202594 71 
202695 72 
2027-2031493 375 
Total$947 $719 
Schedule of Assumptions Used
Assumptions used in determining the accumulated postretirement benefit obligation and net other postretirement benefit costs of the Registrants are:
202120202019
Accumulated postretirement benefit obligation
Discount rate2.91%2.58%3.29%
Health care trend rate pre- and post- 65
6.75 / 7.25%
6.75 / 7.25%
6.75 / 7.25%
Ultimate health care trend rate4.50%4.50%4.50%
Year in which ultimate reached pre- and post- 65203420332032
Other postretirement benefit costs
Discount rate2.58%3.29%4.40%
Expected long-term rate of return on plan assets6.70%7.20%7.30%
Health care trend rate pre- and post- 65
6.75 / 7.25%
6.75 / 7.25%
6.75 / 7.25%
Ultimate health care trend rate4.50%4.50%4.50%
Year in which ultimate reached pre- and post- 65203320322031
Schedule of Allocation of Plan Assets
Target allocations for the Registrants' other postretirement benefit plan assets as of December 31, 2021 are listed below:
U.S. Large Cap Equity Securities10 %
U.S. Small Cap and Mid Cap Equity Securities
Non-U.S. Equity Securities10 
Fixed Income Securities54 
Hedge Funds and Similar Investments10 
Private Equity and Other14 
100 %
The following tables provide the fair value measurement amounts for the Registrants' other postretirement benefit plan assets at December 31, 2021 and 2020(a):
December 31, 2021December 31, 2020
Level 1Level 2
Other(b)
TotalLevel 1Level 2
Other(b)
Total
(In millions)
DTE Energy asset category:
Short-term Investments(c)
$39 $ $ $39 $21 $— $— $21 
Equity Securities
Domestic(d)
27  199 226 51 — 200 251 
International(e)
27  141 168 23 — 178 201 
Fixed Income Securities
Governmental(f)
343 32  375 40 45 — 85 
Corporate(g)
 355 271 626 — 477 379 856 
Hedge Funds and Similar Investments(h)
58 26 120 204 61 17 124 202 
Private Equity and Other(i)
  383 383 — — 344 344 
DTE Energy Total$494 $413 $1,114 $2,021 $196 $539 $1,225 $1,960 
DTE Electric asset category:
Short-term Investments(c)
$26 $ $ $26 $14 $— $— $14 
Equity Securities
Domestic(d)
18  132 150 33 — 131 164 
International(e)
18  93 111 16 — 117 133 
Fixed Income Securities
Governmental(f)
230 21  251 24 31 — 55 
Corporate(g)
 235 187 422 — 321 263 584 
Hedge Funds and Similar Investments(h)
39 17 81 137 41 11 83 135 
Private Equity and Other(i)
  258 258 — — 235 235 
DTE Electric Total$331 $273 $751 $1,355 $128 $363 $829 $1,320 
_______________________________________
(a)For a description of levels within the fair value hierarchy see Note 12 to the Consolidated Financial Statements, "Fair Value."
(b)Amounts represent assets valued at NAV as a practical expedient for fair value.
(c)This category predominantly represents certain short-term fixed income securities and money market investments that are managed in separate accounts or commingled funds. Pricing for investments in this category are obtained from quoted prices in actively traded markets.
(d)This category represents portfolios of large, medium and small capitalization domestic equities. Investments in this category include exchange-traded securities for which unadjusted quoted prices can be obtained and exchange-traded securities held in a commingled fund classified as NAV assets.
(e)This category primarily consists of portfolios of non-U.S. developed and emerging market equities. Investments in this category include exchange-traded securities for which unadjusted quoted prices can be obtained and exchange-traded securities held in a commingled fund classified as NAV assets.
(f)This category includes U.S. Treasuries, bonds and other governmental debt. Pricing for investments in this category is obtained from quoted prices in actively traded markets and quotations from broker or pricing services.
(g)This category primarily consists of corporate bonds from diversified industries, bank loans, and mortgage backed securities. Pricing for investments in this category is obtained from quotations from broker or pricing services. Non-exchange traded securities and exchange-traded securities held in commingled funds are classified as NAV assets.
(h)This category utilizes a diversified group of strategies that attempt to capture uncorrelated sources of income and includes publicly traded mutual funds, insurance-linked and asset-backed securities, commingled funds and limited partnership funds. Pricing for mutual funds in this category is obtained from quoted prices in actively traded markets. Prices for insurance-linked and asset-backed securities are obtained from quotations from broker or pricing services. Commingled funds and limited partnership funds are classified as NAV assets.
(i)This category includes a diversified group of funds and strategies that primarily invests in private equity partnerships. This category also includes investments in private real estate and private debt. All investments in this category are classified as NAV assets.
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets
The following table reflects other postretirement benefit plans with accumulated postretirement benefit obligations in excess of plan assets as of December 31:
DTE EnergyDTE Electric
2021202020212020
(In millions)
Accumulated postretirement benefit obligation$822 $878 $775 $826 
Fair value of plan assets463 470 435 442 
Accumulated postretirement benefit obligation in excess of plan assets$359 $408 $340 $384 
Retiree healthcare plan (VEBA)  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of VEBA Contributions The following table provides contributions to the VEBA in:
202120202019
(In millions)
DTE Energy$18 $15 $13 
DTE Electric$8 $$