Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 116

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 116
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 to manage interest costs.

64

CAPITAL RESOURCES AND LIQUIDITY

Cash Requirements

DTE Energy uses cash to maintain and invest in the electric and natural gas utilities, to grow the non-utility businesses, to retire and pay interest on long-term debt, and to pay dividends.  DTE Energy believes it will have sufficient internal and external capital resources to fund anticipated capital and operating requirements.  DTE Energy expects that cash from operations in 2025 will be approximately $3.3 billion.  DTE Energy anticipates base level utility capital investments, including environmental, renewable, and energy waste reduction expenditures, and expenditures for non-utility businesses of approximately $4.9 billion in 2025.  DTE Energy plans to seek regulatory approval to include utility capital expenditures in regulatory rate base consistent with prior treatment.  Capital spending for growth of existing or new non-utility businesses will depend on the existence of opportunities that meet strict risk-return and value creation criteria.

Refer below for analysis of cash flows relating to operating, investing, and financing activities, which reflect DTE Energy's change in financial condition.  Any significant non-cash items are included in the Supplemental disclosure of non-cash investing and financing activities within the Consolidated Statements of Cash Flows, as applicable.

Six Months Ended June 30,20252024(In millions)Cash, Cash Equivalents, and Restricted Cash at Beginning of Period$88 $51 Net cash from operating activities1,729 1,801 Net cash used for investing activities(2,022)(3,524)Net cash from financing activities289 1,759 Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash(4)36 Cash, Cash Equivalents, and Restricted Cash at End of Period$84 $87 

Cash from Operating Activities

A majority of DTE Energy's operating cash flows are provided by the electric and natural gas utilities, which are significantly influenced by factors such as weather, electric retail access, regulatory deferrals, regulatory outcomes, economic conditions, changes in working capital, and operating costs.

Net cash from operations decreased by $72 million in 2025.  The decrease was primarily due to decreases in cash related to Deferred income taxes and working capital items, partially offset by increases in Net Income and Depreciation and amortization.

The change in working capital items in 2025 was primarily due to decreases in cash related to Derivative assets and liabilities, Regulatory assets and