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Consumers Energy Company Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating Revenue $ 1,607 $ 1,555 $ 3,783 $ 3,839
Operating Expenses        
Operating Income 283 244 695 558
Other Income (Expense)        
Non-operating retirement benefits, net 41 45 85 90
Other income 77 103 121 118
Other expense (5) (2) (7) (6)
Total other income 113 146 199 202
Interest Charges        
Interest on long-term debt 171 152 343 296
Allowance for borrowed funds used during construction (6) (1) (6) (1)
Total interest charges 173 160 350 307
Income Before Income Taxes 223 230 544 453
Income Tax Expense 41 41 99 70
Net Income 198 198 485 402
Preferred Stock Dividends 3 3 5 5
Net income (loss) available to common stockholders 195 195 480 397
Related Party        
Interest Charges        
Other interest expense 3 3 6 6
Nonrelated Party        
Interest Charges        
Other interest expense 5 6 7 6
Consumers Energy Company        
Operating Revenue 1,533 1,485 3,630 3,695
Operating Expenses        
Fuel for electric generation 91 85 216 183
Purchased and interchange power 337 326 643 660
Purchased power – related parties 16 17 34 36
Cost of gas sold 66 83 416 629
Maintenance and other operating expenses 377 380 755 789
Depreciation and amortization 261 245 617 589
General taxes 99 94 251 233
Total operating expenses 1,247 1,230 2,932 3,119
Operating Income 286 255 698 576
Other Income (Expense)        
Non-operating retirement benefits, net 38 42 79 85
Other income 26 15 43 27
Other expense (5) (1) (7) (5)
Total other income 59 56 115 107
Interest Charges        
Interest on long-term debt 120 101 241 200
Allowance for borrowed funds used during construction (4) (1) (4) (1)
Total interest charges 126 110 255 212
Income Before Income Taxes 219 201 558 471
Income Tax Expense 41 34 105 72
Net Income 178 167 453 399
Preferred Stock Dividends 1 1 1 1
Net income (loss) available to common stockholders 177 166 452 398
Consumers Energy Company | Related Party        
Interest Charges        
Other interest expense 7 4 13 7
Consumers Energy Company | Nonrelated Party        
Interest Charges        
Other interest expense $ 3 $ 6 $ 5 $ 6