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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating Revenue $ 1,599 $ 1,527 $ 5,044 $ 4,805
Operating Expenses        
Fuel for electric generation 150 144 397 386
Purchased power – related parties 21 21 59 64
Maintenance and other operating expenses 366 304 1,002 909
Depreciation and amortization 206 193 689 652
General taxes 67 62 222 209
Total operating expenses 1,305 1,197 4,132 3,846
Operating Income 294 330 912 959
Other Income (Expense)        
Interest income 2 3 8 10
Allowance for equity funds used during construction 2 1 4 5
Income (loss) from equity method investees (1) 3 6 10
Nonoperating retirement benefits, net 22 3 68 10
Other income 1 2 2 4
Other expense (4) (2) (15) (6)
Total other income 22 10 73 33
Interest Charges        
Interest on long-term debt 101 101 304 304
Other interest expense 14 10 35 26
Allowance for borrowed funds used during construction (1) 0 (2) (2)
Total interest charges 114 111 337 328
Income Before Income Taxes 202 229 648 664
Income Tax Expense 33 57 98 200
Net Income 169 172 550 464
Income Attributable to Noncontrolling Interests 0 0 1 1
Net Income Available to Common Stockholders $ 169 $ 172 $ 549 $ 463
Basic earnings per average common share (in dollars per share) $ 0.60 $ 0.61 $ 1.95 $ 1.65
Diluted earnings per average common share (in dollars per share) 0.59 0.61 1.94 1.65
Dividends declared per common share (in dollars per share) $ 0.3575 $ 0.3325 $ 1.0725 $ 0.9975
Consumers Energy Company        
Operating Revenue $ 1,502 $ 1,437 $ 4,752 $ 4,536
Operating Expenses        
Fuel for electric generation 122 115 310 304
Purchased and interchange power 440 424 1,206 1,124
Purchased power – related parties 22 23 61 67
Cost of gas sold 45 42 530 479
Maintenance and other operating expenses 334 274 914 824
Depreciation and amortization 203 191 681 646
General taxes 65 60 216 203
Total operating expenses 1,231 1,129 3,918 3,647
Operating Income 271 308 834 889
Other Income (Expense)        
Interest income 2 2 6 8
Allowance for equity funds used during construction 2 1 4 5
Interest and dividend income – related parties 1 0 1 0
Nonoperating retirement benefits, net 21 3 63 8
Other income 0 1 1 15
Other expense (4) (2) (9) (6)
Total other income 22 5 66 30
Interest Charges        
Interest on long-term debt 69 66 203 198
Other interest expense 5 4 14 11
Allowance for borrowed funds used during construction (1) 0 (2) (2)
Total interest charges 73 70 215 207
Income Before Income Taxes 220 243 685 712
Income Tax Expense 40 62 111 216
Net Income 180 181 574 496
Preferred Stock Dividends 0 0 1 1
Net Income Available to Common Stockholders 180 181 573 495
Purchased and interchange power        
Operating Expenses        
Cost of sales 447 426 1,222 1,132
Cost of gas sold        
Operating Expenses        
Cost of sales $ 48 $ 47 $ 541 $ 494