Company: DTK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000936340-25-000097
Chunk: 62

Company: DTE ENERGY CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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313 $1,226 $430 $9 $653 $2,318 _______________________________________(a)Amounts represent assets valued at NAV as a practical expedient for fair value.(b)Amounts include $19 million and $8 million recorded in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at March 31, 2025 and December 31, 2024, respectively.  All other amounts are included in Cash and cash equivalents on DTE Electric's Consolidated Statements of Financial Position.Cash EquivalentsCash equivalents include investments with maturities of three months or less when purchased.  The cash equivalents shown in the fair value table are comprised of short-term investments in money market funds.Nuclear Decommissioning Trusts and Other InvestmentsThe nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds.  Exchange-traded debt and equity securities held directly, as well as publicly-traded commingled funds, are valued using quoted market prices in actively traded markets.  Non-exchange traded fixed income securities are valued based upon quotations available from brokers or pricing services.Non-publicly traded commingled funds holding exchange-traded equity or debt securities are valued based on stated NAVs.  There are no significant restrictions for these funds and investments may be redeemed with 7 to 65 days notice depending on the fund.  There is no intention to sell the investment in these commingled funds.Private equity and other assets include a diversified group of funds that are primarily classified as NAV assets.  These funds primarily invest in limited partnerships, including private equity, private real estate and private credit.  Distributions are received through the liquidation of the underlying fund assets over the life of the funds.  There are generally no redemption rights.  The limited partner must hold the fund for its life or find a third-party buyer, which may need to be approved by the general partner.  The funds are established with varied contractual durations generally in the range of 7 years to 12 years.  The fund life can often be extended by several years by the general partner, and further extended with the approval of the limited partners.  Unfunded commitments related to these investments totaled $114 million and $120 million as of March 31, 2025 and December 31, 2024, respectively.

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