DTE Energy 2014 Annual Report Download - page 100
Download and view the complete annual report
Please find page 100 of the 2014 DTE Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
 |
 |
Fair Value Measurements Using Significant Unobservable Inputs (Level 3):
Beginning Balance at January 1
$ 339
$ 179
$ 518
Total realized/unrealized gains (losses)
40
4
44
Purchases, sales and settlements:
Purchases
16
15
31
Sales
—
(28)
(28)
Ending Balance at December 31
$ 395
$ 170
$ 565
The amount of total gains for the period
attributable to the change in unrealized gains or
losses related to assets still held at the end of the
period
$ 38
$ 3
$ 41
There were no transfers between Level 3 and Level 2 and there were no significant transfers between Level 2 and Level 1 in the years ended
December 31, 2014 and 2013.
The Company participates in defined benefit plans sponsored by the LLC that provide certain other postretirement health care and life insurance
benefits for employees who are eligible for these benefits. The Company’s policy is to fund certain trusts to meet its other postretirement benefit obligations.
Separate qualified VEBA and other benefit trusts exist. The Company contributed $24 million to these trusts for its defined benefit other postretirement
medical and life insurance benefit plans during 2014. At the discretion of management, the Company anticipates making up to $200 million of contributions
to the trusts in 2015.
Starting in 2012, in lieu of offering future employees defined benefit post-employment health care and life insurance benefits, the Company allocates a
fixed amount per year to an account in a defined contribution VEBA for each employee. These accounts are managed either by the Company (for non-
represented and certain represented groups), or by the Utility Workers of America (UWUA) for Local 223 employees. The contributions to the VEBA for these
accounts were $4 million in 2014, $2 million in 2013 and less than $1 million in 2012.
Beginning in 2013, the Company replaced the defined benefit employer-sponsored retiree medical, prescription drug and dental coverage with a
notional allocation to a Retiree Reimbursement Account. This change applies to both current and future Medicare eligible non-represented and future
represented retirees, spouses, surviving spouses or same sex domestic partners when the youngest of the retiree's covered household turns age 65. The amount
of the annual allocation to each participant is determined by the employee's retirement date: for employees who retired on or before January 1, 2013, the base
allocation is $3,500, which increased to $3,570 in 2014 and for employees who retire after January 1, 2013, the base allocation is $3,250, which increased to
$3,315 in 2014. The amount of the allocation will increase each year at the lower of the rate of medical inflation or 2%.
97