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Screener / SEC EDGAR /CIK 0000936340 /Numbers from the XBRL of the 10-Ks
NYSE Utilities · Electric Utilities

DTE Energy DTE

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The 10-K against last year's

90 changes: 8 added, 6 removed, 76 reworded

10-K Feb 17, 2026 vs Feb 13, 2025
Risk Factors 1.2% of the text changed · 4,754 words now MD&A 14.2% of the text changed · 11,421 words now Accounting Policies 5.6% of the text changed · 3,129 words now

10-K 0000936340-26-000054 (Feb 17, 2026) vs 10-K 0000936340-25-000065 (Feb 13, 2025) Not compared: Legal Proceedings.

The paragraph that changed most in each section

The redline

Marked against last year's 10-K: cut words struck through, new words highlighted.

MD&A145 words changed in this paragraph; it is 39% similar to last year's version.
Operation and maintenance expense increased $29 $71 million in 2024 2025 and decreased $35 $47 million in 2023. 2024. The 2024 increase in 2025 was primarily due to a new project in the On-site business higher gas operations expense of $54 million, higher corporate asset usage expense of $7 million and million, higher corporate support costs in the On-site business of $11 $7 million, Renewables business higher legal expense of $6 million, higher benefits and Steel business other compensation expense of $6 million. $2 million, and higher uncollectible expense of $2 million, partially offset by one-time costs in 2024 of $8 million resulting from the voluntary separation incentive program. The 2023 decrease increase in 2024 was primarily due to lower operating costs in the Renewables business of $13 million and lower operating costs in the On-site business higher gas operations expense of $24 million, which was primarily driven by a decrease one-time costs of $11 $8 million due to resulting from the sale voluntary separation incentive program noted above, higher uncollectible expense of a project. $6 million, higher benefits and other compensation expense of $3 million, higher EWR expense of $3 million, and higher corporate support costs of $3 million.

Source: Item 7, 10-K 0000936340-26-000054 vs Item 7, 10-K 0000936340-25-000065

Accounting Policies88 words changed in this paragraph; it is 61% similar to last year's version.
Net Unrealized Gain (Loss) on Derivatives Benefit Obligations(b) Foreign Currency Translation Total (In millions) Balance, December 31, 2022 $ (4) $ (58) $ — $ (62) Other comprehensive income (loss) before reclassifications (14) 3 2 (9) Amounts reclassified from Accumulated other comprehensive loss 1 3 — 4 Net current period Other comprehensive income (loss) (13) 6 2 (5) Balance, December 31, 2023 $ (17) $ (52) $ 2 $ (67) Other comprehensive income (loss) before reclassifications 47 (3) (7) 37 Amounts reclassified from Accumulated other comprehensive loss — 4 — 4 Net current period Other comprehensive income (loss) 47 1 (7) 41 Balance, December 31, 2024 $ 30 $ (51) $ (5) $ (26) Other comprehensive income (loss) before reclassifications (8) (9) 3 (14) Amounts reclassified from Accumulated other comprehensive loss (3) 4 — 1 Net current period Other comprehensive income (loss) (11) (5) 3 (13) Balance, December 31, 2025 $ 19 $ (56) $ (2) $ (39)

Source: Item 8, Note 2 – SIGNIFICANT ACCOUNTING POLICIES, 10-K 0000936340-26-000054 vs Item 8, Note 2 – SIGNIFICANT ACCOUNTING POLICIES, 10-K 0000936340-25-000065

Risk Factors45 words changed in this paragraph; it is 82% similar to last year's version.
Regional, national, and international economic conditions conditions, and market developments can have an unfavorable impact on the Registrants. The Registrants' utility and DTE Energy's non-utility businesses follow the economic cycles of the customers they serve and credit risk of counterparties they do business with. Should the financial conditions of some of DTE Energy's significant customers deteriorate as a result of regional, national or international economic conditions, conditions or other market developments, reduced volumes of electricity and gas, and demand for energy services DTE Energy supplies, collections of accounts receivable, reductions in federal and state energy assistance funding, and potentially higher levels of lost gas or stolen gas and electricity could result in decreased earnings and cash flows. In addition, import tariffs and other trade policies have the potential to disrupt global supply chains and could cause volatility in the availability and cost of materials and supplies for us and our customers.

Source: Item 1A, 10-K 0000936340-26-000054 vs Item 1A, 10-K 0000936340-25-000065

Sentences and paragraphs added, removed or reworded

Every change, by type

Sentences and paragraphs of DTE's Risk Factors and MD&A, 10-K Feb 17, 2026 against 10-K Feb 13, 2025. Each links to the text at sec.gov.

All 90 Added 8Removed 6Reworded 76Quiet changes 0
AddedMD&A
(a)Variance for 2025 includes MPSC disallowance of $28 million resulting from an order in DTE Electric's 2022 PSCR reconciliation case. The disallowance reduced the amount of power supply costs recoverable from customers, which had a flow-through impact of approximately $5 million higher interest expense recorded separately to Other (Income) and Deductions.
Read it in 10-K Feb 17, 2026 at sec.gov
AddedMD&A
(b)Increase in 2025 was primarily due to the acquisition of a non-utility business by DTE Sustainable Generation during the third quarter 2025. Refer to Note 4 to the Consolidated Financial Statements, "Acquisition," for additional information.
Read it in 10-K Feb 17, 2026 at sec.gov
AddedMD&A
DTE Electric filed a rate case with the MPSC on April 24, 2025 requesting an increase in base rates of $574 million based on a projected twelve-month period ending December 31, 2026, and an increase in return on equity from 9.9% to 10.75%. The requested increase in base rates was primarily due to capital investments required to support continued reliability improvements and the ongoing transition to cleaner energy. A final MPSC order in this case is expected in February 2026.
Read it in 10-K Feb 17, 2026 at sec.gov
AddedMD&A
In October 2025, DTE Electric entered into a 1.4 gigawatt data center agreement. Capital investments required to support this agreement are included in DTE Electric's 5-year capital investment plan in the "Capital Investments" section above. DTE Electric secured MPSC approval in the fourth quarter of 2025.
Read it in 10-K Feb 17, 2026 at sec.gov
AddedMD&A
DTE Gas filed a rate case with the MPSC on November 13, 2025 requesting a net increase in base rates of $163 million based on a projected twelve-month period ending September 30, 2027, and an increase in return on equity from 9.8% to 10.25%. The net increase is based on a total revenue deficiency of $238 million, net of the IRM roll-in of $75 million. The requested net increase in base rates was primarily due to continued infrastructure investment and increasing operations and maintenance costs needed to ensure the continued safe and reliable delivery of natural gas to customers. A final MPSC order in this case is expected in September 2026.
Read it in 10-K Feb 17, 2026 at sec.gov
AddedMD&A
(In millions) 2025 Lower demand and prices in the Steel business $ (100) New project in the On-site business 7 Higher prices in the On-site business 8 Higher sales in the Renewables business 28 $ (57)
Read it in 10-K Feb 17, 2026 at sec.gov
AddedMD&A
(In millions) 2025 Lower demand and prices in the Steel business $ (76) New project in the On-site business 1 Higher prices in the On-site business 8 Higher costs in the Renewables business 30 $ (37)
Read it in 10-K Feb 17, 2026 at sec.gov
AddedMD&A
In December 2025, DTE Energy filed a prospectus supplement and executed an Equity Distribution Agreement, pursuant to which DTE Energy may sell, from time to time, up to an aggregate $1.5 billion of its common stock through an at-the-market program, including an equity forward sales component. As of December 31, 2025, DTE Energy did not enter into any sales under the ATM Program.
Read it in 10-K Feb 17, 2026 at sec.gov

Sources

The two latest 10-Ks on EDGAR, section by section. Each change links to the text at sec.gov.

Also

New risk factors: paragraphs with nothing like them last year, quoted in full.

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