What the 10-K filed 2026-02-17 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-13.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
No specific sentence about this in the 10-K.
Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
No specific sentence about this in the 10-K.
Lawsuits and legal claims
3 newPending cases, settlements and what the company has set aside for them.
New “The increase in 2025 was primarily due to estimated litigation penalties in the Steel business of $13 million, including $8 million related to EES Coke, partially offset by lower costs in the Renewables business of $10 million.”
Read it in the 10-K ↗
New “The EPA filed a motion for partial summary judgment on liability that was granted by the trial court on August 25, 2025.”
Read it in the 10-K ↗
New “The jury awarded damages for TAES’s breaches of contract, as well as liquidated damages for late completion of work.”
Read it in the 10-K ↗
“In 2023, the MPSC approved a jointly-filed request by DTE Electric and Consumers for authority to defer as a regulatory asset the costs associated with repairing or replacing the defective work performed by TAES while the litigation with TAES and Toshiba moves forward.”
Read it in the 10-K ↗
Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
“These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees.”
Read it in the 10-K ↗
“The guarantees cover potential commercial, environmental, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations.”
Read it in the 10-K ↗
“DTE Energy estimates that its maximum potential liability under these guarantees at December 31, 2025 was $201 million.”
Read it in the 10-K ↗
“DTE Energy’s guarantees are not individually material with maximum potential payments totaling $69 million at December 31, 2025.”
Read it in the 10-K ↗
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“The impact of a downgrade will not affect DTE Energy, DTE Electric, and DTE Gas' ability to comply with existing debt covenants.”
Read it in the 10-K ↗
“At December 31, 2025, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.66 to 1, 0.52 to 1, and 0.49 to 1, respectively, and were in compliance with this financial covenant.”
Read it in the 10-K ↗
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on DTE in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/DTE/export.csv") into a cell.