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Consumers Energy Company Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Revenue $ 8,596 $ 7,329 $ 6,418
Operating Expenses      
Operating Income 1,224 1,146 1,230
Other Income (Expense)      
Non-operating retirement benefits, net 205 165 118
Other income 19 30 28
Other expense (27) (18) (62)
Total other income 197 177 84
Interest Charges      
Interest on long-term debt 509 481 483
Interest expense – related parties 12 12 12
Other interest expense 0 10 12
Allowance for borrowed funds used during construction (2) (3) (2)
Total interest charges 519 500 505
Income Before Income Taxes 902 823 809
Income Tax Expense 93 95 115
Net Income Attributable to CMS Energy 837 1,353 755
Preferred Stock Dividends 10 5 0
Net income (loss) available to common stockholders 827 1,348 755
Consumers Energy Company      
Operating Revenue 8,151 7,021 6,189
Operating Expenses      
Fuel for electric generation 662 463 286
Purchased and interchange power 1,867 1,599 1,454
Purchased power – related parties 76 77 64
Cost of gas sold 1,243 726 568
Maintenance and other operating expenses 1,582 1,531 1,224
Depreciation and amortization 1,088 1,077 1,023
General taxes 400 373 349
Total operating expenses 6,918 5,846 4,968
Operating Income 1,233 1,175 1,221
Other Income (Expense)      
Non-operating retirement benefits, net 195 155 112
Other income 17 23 19
Other expense (25) (18) (43)
Total other income 187 160 88
Interest Charges      
Interest on long-term debt 325 294 299
Interest expense – related parties 12 12 12
Other interest expense 0 8 11
Allowance for borrowed funds used during construction (2) (3) (2)
Total interest charges 335 311 320
Income Before Income Taxes 1,085 1,024 989
Income Tax Expense 140 156 173
Net Income Attributable to CMS Energy 945 868 816
Preferred Stock Dividends 2 2 2
Net income (loss) available to common stockholders $ 943 $ 866 $ 814