Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 55

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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0.2)(0.3)(0.3)Effective income tax rate(3.4)%11.9 %(3.3)%11.0 %DTE Electric had federal income tax payables with DTE Energy of $6 million and state income tax payables with DTE Energy of $3 million at June 30, 2025.  Income tax payables with DTE Energy are included in Accounts payable — Affiliates on the DTE Electric Consolidated Statements of Financial Position.  DTE Electric had federal income tax receivables with DTE Energy of $5 million at December 31, 2024.  Income tax receivables with DTE Energy are included in Accounts receivable — Affiliates on the DTE Electric Consolidated Statements of Financial Position.On July 4, 2025, the One Big Beautiful Bill Act (OBBB) was enacted into law.  While the OBBB included many tax changes, the Registrants do not currently expect the bill to have a significant impact to their financial statements for 2025.Unrecognized Compensation CostsAs of June 30, 2025, DTE Energy had $86 million of total unrecognized compensation cost related to non-vested stock incentive plan arrangements.  That cost is expected to be recognized over a weighted-average period of 2.0 years.Allocated Stock-Based CompensationDTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $9 million for both the three months ended June 30, 2025 and 2024, while such allocation was $19 million and $17 million for the six months ended June 30, 2025 and 2024, respectively.

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

Cash, Cash Equivalents, and Restricted CashCash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with maturities of three months or less.  Restricted cash includes funds held in separate bank accounts and principally consists of amounts at DTE Securitization I and DTE Securitization II to pay for debt service and other qualified costs.  Restricted cash also consists of funds held to satisfy contractual obligations related to a large construction project at DTE Vantage.  Restricted cash designated for payments within one year is classified as a Current Asset.Financing ReceivablesFinancing receivables are