Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:

In Millions
	CMS Energy, including Consumers						Consumers
	June 30 2024			December 31 2023			June 30 2024			December 31 2023
Assets1
Cash equivalents		$	167		$	18		$	154		$	—
Restricted cash equivalents		90			21			89			21
Nonqualified deferred compensation plan assets		32			30			23			22
Derivative instruments		5			2			5			2
Total assets		$	294		$	71		$	271		$	45
Liabilities1
Nonqualified deferred compensation plan liabilities		$	32		$	30		$	23		$	22
Total liabilities		$	32		$	30		$	23		$	22

1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 3.

Consumers Energy Company

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:

In Millions
	CMS Energy, including Consumers						Consumers
	June 30 2024			December 31 2023			June 30 2024			December 31 2023
Assets1
Cash equivalents		$	167		$	18		$	154		$	—
Restricted cash equivalents		90			21			89			21
Nonqualified deferred compensation plan assets		32			30			23			22
Derivative instruments		5			2			5			2
Total assets		$	294		$	71		$	271		$	45
Liabilities1
Nonqualified deferred compensation plan liabilities		$	32		$	30		$	23		$	22
Total liabilities		$	32		$	30		$	23		$	22

1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 3.