Company: DTK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000936340-25-000097
Chunk: 47

Company: DTE ENERGY CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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ization entities are consolidated by the Registrants.  Securitization bond holders have no recourse to the Registrants' assets, except for those held by the DTE Securitization entities.  Surcharges collected by DTE Electric to pay for bond servicing and other qualified costs reflect securitization property solely owned by the DTE Securitization entities.  These surcharges are remitted to a trustee and are not available to other creditors of the Registrants.

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

The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position.  For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment and notes receivable.The table below summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of March 31, 2025 and December 31, 2024.  All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary.  Assets and liabilities of the DTE Securitization entities have been aggregated due to their similar nature and are separately stated in the table below, comprising the entirety of the DTE Electric amounts.  For all other VIEs, assets and liabilities are also aggregated due to their similar nature and presented together with the DTE Securitization entities in the DTE Energy amounts below.  VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table.Amounts for the Registrants' consolidated VIEs are as follows:March 31, 2025December 31, 2024DTE EnergyDTE ElectricDTE EnergyDTE Electric(In millions)ASSETSCash and cash equivalents$9 $— $6 $— Restricted cash57 42 64 48 Accounts receivable30 4 27 6 Securitized regulatory assets673 673 690 690 Notes receivable(a)