Financings and Capitalization (Tables)

6 Months Ended

Jun. 30, 2024

Debt Instrument [Line Items]

Schedule of Major Long-Term Debt Issuances and Retirements

Presented in the following table is a summary of major long-term debt issuances during the six months ended June 30, 2024:

	Principal (In Millions)			Interest Rate (%)	Issuance Date	Maturity Date
Consumers
First mortgage bonds		$	600	4.600	January 2024	May 2029
Total Consumers		$	600

Presented in the following table is a summary of major long-term debt retirements during the six months ended June 30, 2024:

	Principal (In Millions)			Interest Rate (%)	Retirement Date	Maturity Date
CMS Energy, parent only
Senior notes		$	250	3.875	January 2024	March 2024
CMS Energy, parent only		$	250

Schedule of Revolving Credit Facilities

The following credit facilities with banks were available at June 30, 2024:

In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
December 14, 20271		$	550		$	—		$	29		$	521
September 22, 2024		50			—			50			—
NorthStar Clean Energy, including subsidiaries
May 7, 20272		$	150		$	105		$	—		$	45
September 25, 20253		37			—			37			—
Consumers4
December 14, 2027		$	1,100		$	—		$	27		$	1,073
November 18, 2025		250			—			54			196

1There were no borrowings under this facility during the six months ended June 30, 2024.

2Obligations under this facility are secured by certain pledged equity interests in subsidiaries of NorthStar Clean Energy; under the terms of this facility, the interests may not be sold by NorthStar Clean Energy unless there is an agreed-upon substitution for the pledged equity interests. At June 30, 2024, the net book value of the pledged equity interests was $393 million. Also under the terms of this facility, NorthStar Clean Energy may be restricted from remitting cash dividends to CMS Energy in the event of default. Loans under this facility have an interest rate of one-month Term SOFR plus 1.750 percent less an adjustment of 0.050 percent for green credit advances. At June 30, 2024, the interest rate for the loan issued under this facility was 7.026 percent.

3This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 11, Variable Interest Entities.

4Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the six months ended June 30, 2024.

Consumers Energy Company

Debt Instrument [Line Items]

Schedule of Major Long-Term Debt Issuances and Retirements

Presented in the following table is a summary of major long-term debt issuances during the six months ended June 30, 2024:

	Principal (In Millions)			Interest Rate (%)	Issuance Date	Maturity Date
Consumers
First mortgage bonds		$	600	4.600	January 2024	May 2029
Total Consumers		$	600

Schedule of Revolving Credit Facilities

The following credit facilities with banks were available at June 30, 2024:

In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
December 14, 20271		$	550		$	—		$	29		$	521
September 22, 2024		50			—			50			—
NorthStar Clean Energy, including subsidiaries
May 7, 20272		$	150		$	105		$	—		$	45
September 25, 20253		37			—			37			—
Consumers4
December 14, 2027		$	1,100		$	—		$	27		$	1,073
November 18, 2025		250			—			54			196

1There were no borrowings under this facility during the six months ended June 30, 2024.

2Obligations under this facility are secured by certain pledged equity interests in subsidiaries of NorthStar Clean Energy; under the terms of this facility, the interests may not be sold by NorthStar Clean Energy unless there is an agreed-upon substitution for the pledged equity interests. At June 30, 2024, the net book value of the pledged equity interests was $393 million. Also under the terms of this facility, NorthStar Clean Energy may be restricted from remitting cash dividends to CMS Energy in the event of default. Loans under this facility have an interest rate of one-month Term SOFR plus 1.750 percent less an adjustment of 0.050 percent for green credit advances. At June 30, 2024, the interest rate for the loan issued under this facility was 7.026 percent.

3This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 11, Variable Interest Entities.

4Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the six months ended June 30, 2024.