Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 170

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 170
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b)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.Debt RedemptionsRefer to the table below for debt redeemed through June 30, 2025:CompanyMonthTypeInterest RateMaturity DateAmount(In millions)DTE ElectricMarchMortgage Bonds3.38%2025$350 DTE Electric MarchSecuritization Bonds5.97%202515DTE EnergyJuneSenior Notes1.05%2025800 DTE ElectricJuneSecuritization Bonds2.64%202520 $1,185 

NOTE 10 — SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS

DTE Energy, DTE Electric, and DTE Gas have unsecured revolving credit agreements that can be used for general corporate borrowings, but are intended to provide liquidity support for each of the companies’ commercial paper programs.  Borrowings under the revolvers are available at prevailing short-term interest rates.  Letters of credit of up to $500 million may also be issued under the DTE Energy revolver.  DTE Energy and DTE Electric also have other facilities to support letter of credit issuance and increase liquidity.The unsecured revolving credit agreements require a total funded debt to capitalization ratio of no more than 0.70 to 1 for DTE Energy and 0.65 to 1 for DTE Electric and DTE Gas.  In the agreements, "total funded debt" means all indebtedness of each respective company and their consolidated subsidiaries, including finance lease obligations, hedge agreements, and guarantees of third parties’ debt, but excluding contingent obligations, nonrecourse and junior subordinated debt, and certain equity-linked securities and, except for calculations at the end of the second quarter, certain DTE Gas short-term debt.  "Capitalization" means the sum of (a) total funded debt plus (b) "consolidated net worth," which is equal to consolidated total equity of each respective company and their consolidated subsidiaries (excluding pension effects under certain FASB statements), as determined in accordance with accounting principles generally accepted in the United States of America.  At June 30, 2025, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.65 to 1, 0.53 to 1, and 0.48 to 1, respectively, and were in compliance with this financial