The following is a summary of Property, plant, and equipment by classification as of December 31:
| | | | | | | | | | | |
| 2025 | | 2024 |
| Property, plant, and equipment | (In millions) |
| DTE Electric | | | |
| Distribution | $ | 16,316 | | | $ | 14,995 | |
| Dispatchable generation | 8,647 | | | 8,428 | |
| Renewable generation | 5,102 | | | 3,933 | |
| Other | 3,742 | | | 3,445 | |
| Total DTE Electric | 33,807 | | | 30,801 | |
| DTE Gas | | | |
| Distribution | 6,826 | | | 6,334 | |
| Transmission | 1,267 | | | 1,212 | |
| Storage | 589 | | | 586 | |
| Other | 530 | | | 500 | |
| Total DTE Gas | 9,212 | | | 8,632 | |
| DTE Vantage | 1,191 | | | 1,135 | |
| Other | 413 | | | 272 | |
| Total DTE Energy | $ | 44,623 | | | $ | 40,840 | |
| Accumulated depreciation and amortization | | | |
| DTE Electric | | | |
| Distribution | $ | (3,729) | | | $ | (3,513) | |
| Dispatchable generation | (2,584) | | | (2,146) | |
| Renewable generation | (760) | | | (615) | |
| Other | (1,166) | | | (1,130) | |
| Total DTE Electric | (8,239) | | | (7,404) | |
| DTE Gas | | | |
| Distribution | (1,413) | | | (1,319) | |
| Transmission | (291) | | | (278) | |
| Storage | (140) | | | (138) | |
| Other | (228) | | | (210) | |
| Total DTE Gas | (2,072) | | | (1,945) | |
| DTE Vantage | (564) | | | (520) | |
| Other | (95) | | | (78) | |
| Total DTE Energy | $ | (10,970) | | | $ | (9,947) | |
| Net DTE Energy Property, plant, and equipment | $ | 33,653 | | | $ | 30,893 | |
| Net DTE Electric Property, plant, and equipment | $ | 25,568 | | | $ | 23,397 | |
The following is a summary of Depreciation and amortization expense for DTE Energy:
| | | | | | | | | | | | | | | | | |
| Year Ended December 31, |
| 2025 | | 2024 | | 2023 |
| (In millions) |
| Property, plant, and equipment | $ | 1,265 | | | $ | 1,316 | | | $ | 1,239 | |
| Regulatory assets and liabilities | 550 | | | 394 | | | 344 | |
| Intangible assets | 18 | | | 16 | | | 15 | |
| Other | 8 | | | 6 | | | 8 | |
| $ | 1,841 | | | $ | 1,732 | | | $ | 1,606 | |
The following is a summary of Depreciation and amortization expense for DTE Electric:
| | | | | | | | | | | | | | | | | |
| Year Ended December 31, |
| 2025 | | 2024 | | 2023 |
| (In millions) |
| Property, plant, and equipment | $ | 1,039 | | | $ | 1,089 | | | $ | 1,029 | |
| Regulatory assets and liabilities | 486 | | | 338 | | | 292 | |
| | | | | |
| Other | 5 | | | 5 | | | 5 | |
| $ | 1,530 | | | $ | 1,432 | | | $ | 1,326 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.