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Consumers Energy Company Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating Revenue $ 1,743 $ 1,673 $ 5,526 $ 5,512
Operating Expenses        
Operating Income 367 271 1,062 829
Other Income (Expense)        
Non-operating retirement benefits, net 42 45 127 135
Other income 46 34 167 152
Other expense (4) (2) (11) (8)
Total other income 84 77 283 279
Interest Charges        
Interest on long-term debt 176 158 519 454
Allowance for borrowed funds used during construction (5) (1) (11) (2)
Total interest charges 178 164 528 471
Income Before Income Taxes 273 184 817 637
Income Tax Expense 26 11 125 81
Net Income 253 176 738 578
Preferred Stock Dividends 2 2 7 7
Net Income Available to Common Stockholders 251 174 731 571
Related Party        
Interest Charges        
Other interest expense 3 3 9 9
Nonrelated Party        
Interest Charges        
Other interest expense 4 4 11 10
Consumers Energy Company        
Operating Revenue 1,661 1,596 5,291 5,291
Operating Expenses        
Fuel for electric generation 150 131 366 314
Purchased and interchange power 346 364 989 1,024
Purchased power – related parties 19 21 53 57
Cost of gas sold 31 41 447 670
Maintenance and other operating expenses 381 425 1,136 1,214
Depreciation and amortization 261 250 878 839
General taxes 95 90 346 323
Total operating expenses 1,283 1,322 4,215 4,441
Operating Income 378 274 1,076 850
Other Income (Expense)        
Non-operating retirement benefits, net 39 43 118 128
Other income 24 13 67 40
Other expense (3) (3) (10) (8)
Total other income 60 53 175 160
Interest Charges        
Interest on long-term debt 123 106 364 306
Allowance for borrowed funds used during construction (4) (1) (8) (2)
Total interest charges 131 114 386 326
Income Before Income Taxes 307 213 865 684
Income Tax Expense 34 35 139 107
Net Income 273 178 726 577
Preferred Stock Dividends 0 0 1 1
Net Income Available to Common Stockholders 273 178 725 576
Consumers Energy Company | Related Party        
Interest Charges        
Other interest expense 9 6 22 13
Consumers Energy Company | Nonrelated Party        
Interest Charges        
Other interest expense $ 3 $ 3 $ 8 $ 9