DTE Energy 2014 Annual Report Download - page 64
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Grants are recognized when there is reasonable assurance that the grant will be received and that any conditions associated with the grant will be met.
When grants are received related to Property, plant and equipment, the Company reduces the cost of the assets on the Consolidated Statements of Financial
Position, resulting in lower depreciation expense over the life of the associated asset. Grants received related to expenses are reflected as a reduction of the
associated expense in the period in which the expense is incurred.
Charitable contributions to the DTE Energy Foundation were $25 million, $18 million and $21 million for the years ended December 31, 2014, 2013
and 2012, respectively. The DTE Energy Foundation is a non-consolidated not-for-profit private foundation, the purpose of which is to contribute to and
assist charitable organizations.
See the following notes for other accounting policies impacting the Company’s Consolidated Financial Statements:
7
Asset Retirement Obligations
8
Regulatory Matters
9
Income Taxes
11
Fair Value
12
Financial and Other Derivative Instruments
19
Stock-Based Compensation
In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The objectives of this ASU
are to improve upon revenue recognition requirements by providing a single comprehensive model to determine the measurement of revenue and timing of
recognition. The core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity
expects to be entitled to in exchange for those goods or services. This ASU also requires expanded qualitative and quantitative disclosures regarding the
nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. The revenue standard is effective for the first
interim period within annual reporting periods beginning after December 15, 2016 and is to be applied retrospectively. Early adoption is not permitted. The
Company is currently assessing the impact of this ASU on its Consolidated Financial Statements.
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