DTE Energy 2014 Annual Report Download - page 59

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

The Company has variable interests in VIEs through certain of its long-term purchase and sale contracts. As of December 31, 2014, the carrying amount
of assets and liabilities in the Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts
are predominately related to working capital accounts and generally represent the amounts owed by or to the Company for the deliveries associated with the
current billing cycle under the contracts. The Company has not provided any significant form of financial support associated with these long-term contracts.
There is no significant potential exposure to loss as a result of its variable interests through these long-term purchase and sale contracts.
In 2001, DTE Electric financed a regulatory asset related to Fermi 2 and certain other regulatory assets through the sale of rate reduction bonds by a
wholly-owned special purpose entity, Securitization. DTE Electric performs servicing activities including billing and collecting surcharge revenue for
Securitization. This entity is a VIE and is consolidated by the Company.
The maximum risk exposure for consolidated VIEs is reflected on the Company's Consolidated Statements of Financial Position. For non-consolidated
VIEs, the maximum risk exposure is generally limited to its investment and amounts which it has guaranteed.
The following table summarizes the major balance sheet items for consolidated VIEs as of December 31, 2014 and 2013. 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. VIEs, in which the Company 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 below.










Cash and cash equivalents  
 
 
$ —
$ 12
$ 12
Restricted cash 

100
8
108
Accounts receivable 
34
16
50
Inventories
—
118
118
Property, plant and equipment, net
—
99
99
Securitized regulatory assets
231
—
231
Other current and long-term assets
4
9
13
 
 
 
$ 369
$ 262
$ 631

Accounts payable and accrued
current liabilities  
 
 
$ 7
$ 23
$ 30
Current portion long-term debt,
including capital leases

196
9
205
Current regulatory liabilities 
43
—
43
Mortgage bonds, notes and other
—
21
21
Securitization bonds
105
—
105
Capital lease obligations
—
7
7
Other current and long-term liabilities
8
6
14
 
 
 
$ 359
$ 66
$ 425
Amounts for non-consolidated VIEs as of December 31, 2014 and 2013 are as follows:



Other investments  
$ 141
Notes receivable  
$ 8
56