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Dte Energy Co (DTB) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

DTB Annual Reports

  • 10-K Annual Report February 2022
  • 10-K Annual Report February 2021

Dte Energy Co

CIK: 936340 Ticker: DTB
Exhibit 99.1
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DTE Energy reports strong 2021 financial results; well-positioned for 2022

Focus on customers, infrastructure and the environment continues

Reaffirmed commitments to most vulnerable customers during winter months
Increased wind and solar generation by 40%
Grew voluntary renewable program to over 1,000 MW and 48,000 residential customers, avoiding more than 418,000 tons of carbon emissions
Accelerated cessation of coal use at Belle River Power Plant, advancing DTE’s emissions reduction goal
Received regulatory approval to further modernize natural gas infrastructure
Led the Midwest in residential and business gas satisfaction
Named “Corporation of the Year” for minority supplier procurement
Invested $2.2 billion with Michigan-based companies, supporting Michigan’s economy and growing jobs

DETROIT, Feb. 10, 2022 - DTE Energy (NYSE:DTE) today reported 2021 earnings for the year of $907 million, or $4.67 per diluted share, compared with $1.4 billion, or $7.08 per diluted share in 2020.

2021 operating earnings for the year were $1.2 billion, or $5.99 per diluted share, compared with 2020 operating earnings of $1.1 billion, or $5.61 per diluted share. Operating earnings per share for the year beat the company’s original 2021 guidance midpoint of $5.51. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this news release.

“Whether it was caring for our most vulnerable customers, improving our infrastructure, or advancing our environmental goals, we continued to make significant advances in our performance in 2021,” said Jerry Norcia, DTE Energy President and CEO. “Overall, we are positioned for a better future for our customers while addressing the realities of the pandemic and severe weather head-on.”

Norcia noted the following accomplishments:

Reaffirmed commitment to help most vulnerable customers during winter months – Among the first companies to make a commitment to the White House in November to expedite assistance to prevent shutting off service for Americans applying for aid. DTE Energy continued to partner with the Michigan Department of Health and Human Services to directly apply Low Income Home Energy Assistance Program and COVID Emergency Rental Assistance financial aid to the accounts of eligible customers.

Partnered with General Motors and the state of Michigan to support a commitment to accelerate an all-electric future – GM announced an investment of more than $7 billion in four Michigan manufacturing sites, creating 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity.

Increased renewable energy generation capacity by 40% – With a new solar park and the addition of three wind parks, DTE added 535-megawatts of renewable energy in 2021. The company’s 50-plus


The following information was filed by Dte Energy Co (DTB) on Thursday, February 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Dte Energy Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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  • Executive Team
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SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows - Dte Electric Company
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Changes In Equity - Dte Electric Company
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Comprehensive Income - Dte Electric Company
Consolidated Statements Of Financial Position
Consolidated Statements Of Financial Position (Parenthetical)
Consolidated Statements Of Financial Position - Dte Electric Company
Consolidated Statements Of Financial Position - Dte Electric Company (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations - Dte Electric Company
Asset Retirement Obligations
Asset Retirement Obligations (Details Textuals)
Asset Retirement Obligations (Rollforward) (Details)
Asset Retirement Obligations (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Commitments And Contingencies (Purchase Commitments) (Details)
Commitments And Contingencies (Tables)
Dispositions And Impairments
Dispositions And Impairments (Details Textuals)
Dispositions And Impairments (Financial Results That Have Been Reclassified From Continuing Operations And Included In Discontinued Operations) (Details)
Dispositions And Impairments (Major Classes Of Assets And Liabilities Transferred And Presented As Discontinued Operations) (Details)
Dispositions And Impairments (Significant Non-Cash Items, Capital Expenditures, And Significant Financing Activities Of Discontinued Operations) (Details)
Dispositions And Impairments (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value
Fair Value (Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (Details)
Fair Value (Details Textuals)
Fair Value (Fair Value And Unrealized Gains And Losses For The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Fair Value Of Financial Instruments) (Details)
Fair Value (Fair Value Of Fixed Income Securities Held In Nuclear Decommissioning Trust Funds (Details)
Fair Value (Fair Value Of Nuclear Decommissioning Trust Fund Assets) (Details)
Fair Value (Gains (Losses) Related To The Trust) (Details)
Fair Value (Gains And Losses And Proceeds From The Sale Of Securities By The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Reconciliation Of Level 3 Assets And Liabilities At Fair Value On A Recurring Basis) (Details)
Fair Value (Tables)
Fair Value (Unobservable Inputs Related To Level 3 Assets And Liabilities) (Details)
Financial And Other Derivative Instruments
Financial And Other Derivative Instruments (Cumulative Gross Volume Of Derivative Contracts Outstanding) (Details)
Financial And Other Derivative Instruments (Details Textuals)
Financial And Other Derivative Instruments (Effect Of Derivatives Not Designated As Hedging Instruments On The Consolidated Statement Of Operations) (Details)
Financial And Other Derivative Instruments (Fair Value Of Derivative Instruments) (Details)
Financial And Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details)
Financial And Other Derivative Instruments (Netting Offsets Of Derivative Assets And Liabilities) (Details)
Financial And Other Derivative Instruments (Netting Offsets Reconciliation To Balance Sheet) (Details)
Financial And Other Derivative Instruments (Tables)
Income Taxes
Income Taxes (Components Of Income Tax Expense) (Details)
Income Taxes (Deferred Tax Assets (Liabilities)) (Details)
Income Taxes (Details Textuals)
Income Taxes (Reconciliation Of Income Tax Expense To The Statutory Federal Income Tax Rate) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Tables)
Jointly-Owned Utility Plant
Jointly-Owned Utility Plant (Details Textuals)
Jointly-Owned Utility Plant (Ownership Information) (Details)
Jointly-Owned Utility Plant (Tables)
Leases
Leases (Components Of Lease Cost) (Details)
Leases (Components Of Net Investment In Finance Leases) (Details)
Leases (Details Textuals)
Leases (Finance Leases Reported On Consolidated Statements Of Financial Position) (Details)
Leases (Future Minimum Lease Payments) (Details)
Leases (Lease Income Associated With Operating Leases) (Details)
Leases (Minimum Future Rental Revenues Under Operating Leases) (Details)
Leases (Other Information) (Details)
Leases (Property Under Operating Leases) (Details)
Leases (Tables)
Long-Term Debt
Long-Term Debt (Debt Issuances) (Details)
Long-Term Debt (Debt Redemptions) (Details)
Long-Term Debt (Details Textuals)
Long-Term Debt (Equity Units) (Details)
Long-Term Debt (Long Term Debt Outstanding And Weighted Average Interest Rates) (Details)
Long-Term Debt (Scheduled Debt Maturities) (Details)
Long-Term Debt (Scheduled Interest Payments) (Details)
Long-Term Debt (Tables)
New Accounting Pronouncements
Nuclear Operations
Nuclear Operations (Details)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Details Textuals)
Organization And Basis Of Presentation (Non-Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Tables)
Preferred And Preference Securities
Preferred And Preference Securities (Details)
Preferred And Preference Securities (Tables)
Property, Plant, And Equipment
Property, Plant, And Equipment (Average Estimated Useful Life Of Each Major Class) (Details)
Property, Plant, And Equipment (Capitalized Software) (Details)
Property, Plant, And Equipment (Depreciation And Amortization) (Details)
Property, Plant, And Equipment (Details Textuals)
Property, Plant, And Equipment (Schedule Of Afudc And Capitalized Interest Rates (Details)
Property, Plant, And Equipment (Schedule Of Afudc And Interest Capitalized) (Details)
Property, Plant, And Equipment (Summary Of Property By Classification) (Details)
Property, Plant, And Equipment (Tables)
Regulatory Matters
Regulatory Matters (Details Textuals)
Regulatory Matters (Schedule Of Regulatory Assets) (Details)
Regulatory Matters (Schedule Of Regulatory Liabilities) (Details)
Regulatory Matters (Tables)
Related Party Transactions
Related Party Transactions (Dte Electric Transactions With Affiliated Companies) (Details)
Related Party Transactions (Tables)
Retirement Benefits And Trusteed Assets
Retirement Benefits And Trusteed Assets (Details Textuals)
Retirement Benefits And Trusteed Assets (Opeb - Accumulated Postretirement Obligations In Excess Of Plan Assets) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Assumptions Used In Determining The Pbo And Net Pension Costs) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Benefits Related To Qualified And Nonqualified Pension Plans Expected To Be Paid In The Next Ten Years) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Contributions To The Veba) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Fair Value Measurements) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Other Changes In Plan Assets And Apbo Recognized In Regulatory Assets And Oci) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Postretirement Cost Inclusions) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Reconciliation Of Obligations, Assets And Funded Status Of Plans) (Details)
Retirement Benefits And Trusteed Assets (Opeb - Target Allocations Of Plan Assets) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Assumptions Used In Determining The Pbo And Net Pension Costs) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Benefits Related To Qualified And Nonqualified Pension Plans Expected To Be Paid In The Next Ten Years) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Contributions) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Fair Value Measurements) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Other Changes In Plan Assets And Benefit Obligations Recognized In Reg Assets And Oci) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Pension Cost Inclusions) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Reconciliation Of Obligations, Assets And Funded Status Of Plans) (Details)
Retirement Benefits And Trusteed Assets (Pension Plan - Target Allocations Of Plan Assets) (Details)
Retirement Benefits And Trusteed Assets (Tables)
Revenue
Revenue (Deferred Revenue) (Details)
Revenue (Details Textuals)
Revenue (Disaggregation Of Revenue By Segment) (Details)
Revenue (Expected Recognition Of Deferred Revenue For Fixed Consideration) (Details)
Revenue (Expected Recognition Of Deferred Revenue) (Details)
Revenue (Revenues Outside The Scope Of Topic 606) (Details)
Revenue (Tables)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment And Related Information
Segment And Related Information (Details Textuals)
Segment And Related Information (Financial Data) (Details)
Segment And Related Information (Inter-Segment Billing) (Details)
Segment And Related Information (Tables)
Short-Term Credit Arrangements And Borrowings
Short-Term Credit Arrangements And Borrowings (Details Textuals)
Short-Term Credit Arrangements And Borrowings (Schedule Of Borrowings) (Details)
Short-Term Credit Arrangements And Borrowings (Tables)
Significant Accounting Policies
Significant Accounting Policies (Accumulated Other Comprehensive Loss) (Details)
Significant Accounting Policies (Details Textuals)
Significant Accounting Policies (Financing Receivables Classified By Internal Grade Of Credit Risk) (Details)
Significant Accounting Policies (Future Amortization Expense Intangible Assets) (Details)
Significant Accounting Policies (Intangible Assets) (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Roll-Forward Of Activity For Financing Receivables Credit Loss Reserves) (Details)
Significant Accounting Policies (Schedule Of Other Income) (Details)
Significant Accounting Policies (Tables)
Significant Accounting Policies (Uncollectible Expense) (Details)
Stock-Based Compensation
Stock-Based Compensation (Activity Relating To Performance Share Awards) (Details)
Stock-Based Compensation (Components Of Stock Based Compensation) (Details)
Stock-Based Compensation (Details Textuals)
Stock-Based Compensation (Performance Share Awards Activity) (Details)
Stock-Based Compensation (Tables)
Stock-Based Compensation (Unrecognized Compensation Costs) (Details)
Supplementary Quarterly Financial Information (Unaudited ) (Tables)
Supplementary Quarterly Financial Information (Unaudited)
Supplementary Quarterly Financial Information (Unaudited) (Details)

Material Contracts, Statements, Certifications & more

Dte Energy Co provided additional information to their SEC Filing as exhibits

Exhibit 4.1: Description Of The Company'S 2017 Series E Junior Subordinated Debentures
Exhibit 4.2: Description Of The Company'S 2021 Series E Junior Subordinated Debentures
Exhibit 4.3: Fifty-Second Supplemental Indenture Dated As Of November 21, 2021
Exhibit 10.1: 1St Amendment To 4Th Amended And Restated 5-Year Credit Agreement - Dte Energy
Exhibit 10.2: 1St Amendment To 4Th Amended And Restated 5-Year Credit Agreement - Dte Electric
Exhibit 10.3: 1St Amendment To 4Th Amended And Restated 5-Year Credit Agreement - Dte Gas
Exhibit 10.4: 2Nd Amendment To 4Th Amended And Restated 5-Year Credit Agreement - Dte Energy
Exhibit 10.5: Credit Agreement Dated As Of December 22, 2021 - Dte Energy
Exhibit 10.6: Dte Energy Company Deferred Stock Compensation Plan For Non-Employee Directors
Exhibit 10.7: Third Amendment To The Dte Energy Company Supplemental Retirement Plan
Exhibit 10.8: Fourth Amendment To The Dte Energy Company Supplemental Retirement Plan
Exhibit 21.1: Subsidiaries Of Dte Energy
Exhibit 23.1: Consent Of Pricewaterhousecoopers Llp - Dte Energy
Exhibit 23.2: Consent Of Pricewaterhousecoopers Llp - Dte Electric
Exhibit 31.1: Chief Executive Officer Section 302 Form 10-K Certification - Dte Energy
Exhibit 31.2: Chief Financial Officer Section 302 Form 10-K Certification - Dte Energy
Exhibit 31.3: Chief Executive Officer Section 302 Form 10-K Certification - Dte Electric
Exhibit 31.4: Chief Financial Officer Section 302 Form 10-K Certification - Dte Electric
Exhibit 32.1: Chief Executive Officer Section 906 Form 10-K Certification - Dte Energy
Exhibit 32.2: Chief Financial Officer Section 906 Form 10-K Certification - Dte Energy
Exhibit 32.3: Chief Executive Officer Section 906 Form 10-K Certification - Dte Electric
Exhibit 32.4: Chief Financial Officer Section 906 Form 10-K Certification - Dte Electric
Ticker: DTB
CIK: 936340
Form Type: 10-K Annual Report
Accession Number: 0000936340-22-000077
Submitted to the SEC: Thu Feb 10 2022 10:57:57 AM EST
Accepted by the SEC: Thu Feb 10 2022
Period: Friday, December 31, 2021
Industry: Electric Services

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