Company: DTK
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000936340-25-000065
Chunk: 117

Company: DTE ENERGY CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 117
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 the price risk of these underlying non-derivative contracts and assets with futures, forwards, swaps, and options.  This results in gains and losses that are recognized in different interim and annual accounting periods.

See also the "Fair Value" section herein and Notes 11 and 12 to the Consolidated Financial Statements, "Fair Value" and "Financial and Other Derivative Instruments," respectively.

40

CORPORATE AND OTHER

Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds certain investments, including investments supporting regional development and economic growth.  The 2024 net loss of $185 million represents an increase of $27 million from the 2023 net loss of $158 million.  This increase was primarily due to higher net interest expense and higher state income taxes, partially offset by lower equity investment losses.

The 2023 net loss of $158 million represents an increase of $13 million from the 2022 net loss of $145 million.  This increase was primarily due to higher net interest expense, partially offset by lower equity investment losses, lower valuation allowances, lower corporate overhead costs, and lower benefits expense.

Outlook — Corporate and Other will continue to support DTE Energy's goals to achieve long-term earnings growth by managing corporate costs such as interest and tax expense.  Corporate and Other will also continue to support DTE Energy in achieving a strong balance sheet, access to capital markets, and implementation of a financing plan that includes interest rate management in order to manage interest costs.

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