Company: DTK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000936340-25-000223
Chunk: 185

Company: DTE ENERGY CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 185
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 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 September 30, 2025, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.65 to 1, 0.54 to 1, and 0.51 to 1, respectively, and were in compliance with this financial covenant.

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

The availability under these facilities as of September 30, 2025 is shown in the following table:DTE EnergyDTE ElectricDTE GasTotal(In millions)Unsecured revolving credit facility, expiring October 2029$1,500 $800 $300 $2,600 Unsecured letter of credit facility, expiring June 2026(a)150 — — 150 Unsecured letter of credit facility, expiring February 2027150 — — 150 Unsecured letter of credit facility, expiring June 2027100 — — 100 Unsecured letter of credit facility(b)50 — — 50 Unsecured letter of credit facility(c)— 150 — 150 1,950 950 300 3,200 Amounts outstanding at September 30, 2025Commercial paper issuances—