DTE Energy 2011 Annual Report Download - page 19

17
(in Millions)
Assets
Recoverable pension and postretirement costs:
Pension
Postretirement costs
Recoverable Michigan income taxes
Deferred environmental costs
Recoverable uncollectible expense
Unamortized loss on reacquired debt
Cost to achieve Performance Excellence Process
Other
Less amount included in current assets
Liabilities
Asset removal costs
Negative pension offset
Refundable income taxes
Accrued GCR refund
Refundable uncollectible expense
Energy Optimization
Low Income Energy Efficiency Fund
Refundable self implemented rates
Refundable Michigan income taxes
Other
Less amount included in current liabilities and other liabilities
2011
$ 552
196
54
49
41
28
16
24
960
(41)
$ 919
$ 346
120
66
26
18
10
3
1
—
2
592
(27)
$ 565
2010
$ 413
152
64
41
90
30
19
11
820
(42)
$ 778
$ 347
129
77
8
—
—
—
26
56
5
648
(34)
$ 614
As noted below, regulatory assets for which costs have been incurred have been included (or are expected to be included, for
costs incurred subsequent to the most recently approved rate case) in MichCon's rate base, thereby providing a return on
invested costs. Certain regulatory assets do not result from cash expenditures and therefore do not represent investments
included in rate base or have offsetting liabilities that reduce rate base.
ASSETS
• Recoverable pension and postretirement costs - The Company recognizes actuarial gains or losses and prior service costs
that arise during the period but that are not immediately recognized as components of net periodic benefit costs as a
regulatory asset since the traditional rate setting process allows for the recovery of pension and postretirement costs. The
asset will reverse as the deferred items are recognized as benefit expenses in net income. (1)
• Recoverable Michigan income taxes — In July 2007, the Michigan Business Tax (MBT) was enacted by the State of
Michigan. State deferred tax liabilities were established for the Company, and offsetting regulatory assets were recorded as
the impacts of the deferred tax liabilities will be reflected in rates as the related taxable temporary differences reverse and
flow through current income tax expense. In May 2011, the MBT was repealed and the Michigan Corporate Income Tax
(MCIT) was enacted. The regulatory asset was remeasured to reflect the impact of the MCIT tax rate. (1)
• Deferred environmental costs - The MPSC approved the deferral of investigation and remediation costs associated with
former MGP sites. Amortization of deferred costs is over a ten-year period beginning in the year after costs were incurred,
with recovery (net of any insurance proceeds) through base rate filings.