Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 82

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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,358 Interest rate contracts ($ USD)500,000,000 Various subsidiaries and equity investees of DTE Energy have entered into derivative and non-derivative contracts which contain ratings triggers and are guaranteed by DTE Energy.  These contracts contain provisions which allow the counterparties to require that DTE Energy post cash or letters of credit as collateral in the event that DTE Energy’s credit rating is downgraded below investment grade.  Certain of these provisions (known as "hard triggers") state specific circumstances under which DTE Energy can be required to post collateral upon the occurrence of a credit downgrade, while other provisions (known as "soft triggers") are not as specific.  For contracts with soft triggers, it is difficult to estimate the amount of collateral which may be requested by counterparties and/or which DTE Energy may ultimately be required to post.  The amount of such collateral which could be requested fluctuates based on commodity prices (primarily natural gas, power, and environmental) and the provisions and maturities of the underlying transactions.  As of June 30, 2025, DTE Energy's contractual obligation to post collateral in the form of cash or letters of credit in the event of a downgrade to below investment grade, under both hard trigger and soft trigger provisions, was $348 million.As of June 30, 2025, DTE Energy had $507 million of derivatives in net liability positions, for which hard triggers exist.  There is no collateral that has been posted against such liabilities, including cash and letters of credit.  Associated derivative net asset positions for which contractual offset exists were $460 million.  The net remaining amount of $47 million is derived from the $348 million noted above.

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Table of ContentsDTE Energy Company — DTE Electric CompanyCombined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 9 — LONG-TERM DEBT 

Debt IssuancesRefer to the table below for debt issued through June 30, 2025:CompanyMonthTypeInterest RateMaturity DateAmount(In millions)DTE EnergyFebruarySenior Notes(a)5.20%2030$1,100 DTE ElectricMayMortgage Bonds(b)5.25%2035500 DTE ElectricMayMortgage Bonds(b)5.85%2055500 DTE ElectricMayMortgage Bonds(b)4.25%2027300 $2,400 _______________________________________(a)Proceeds