Company: DTK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000936340-25-000223
Chunk: 62

Company: DTE ENERGY CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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.0)%(5.3)%DTE Electric had federal income tax receivables with DTE Energy of $9 million and $5 million at September 30, 2025 and December 31, 2024, respectively, and a state income tax receivable with DTE Energy of $3 million at September 30, 2025.  Income tax receivables with DTE Energy are included in Accounts receivable — Affiliates on the DTE Electric Consolidated Statements of Financial Position.In the third quarter of 2025, DTE Electric sold $89 million of certain eligible nuclear PTCs generated in 2024, net of discount, under the transferability provisions of the Inflation Reduction Act of 2022.  The benefit of these PTCs was provided to customers through the regulatory construct of the PSCR mechanism.  These tax credit sales are subject to standard indemnifications up to the cash received.  Payments under these indemnifications are considered remote.On July 4, 2025, the One Big Beautiful Bill Act (OBBB) was enacted into law.  As a result of the OBBB, DTE Energy recorded a valuation allowance of $16 million related to their charitable contribution carryforward in the third quarter.  While the OBBB included many tax changes, the Registrants do not currently expect the bill to have any additional significant impacts to their financial statements for 2025.Unrecognized Compensation CostsAs of September 30, 2025, DTE Energy had $78 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 1.9 years.

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

Allocated Stock-Based CompensationDTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $11 million and $9 million for the three months ended September 30, 2025 and 2024, respectively, while such allocation was $30 million and $26 million for the nine months ended September 30, 2025 and 2024, respectively.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