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Consumers Energy Company Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net Income $ 1,003 $ 887 $ 837
Adjustments to reconcile net income to net cash provided by operating activities      
Deferred income taxes and investment tax credits 142 157 89
Bad debt expense 33 34 50
Postretirement benefits contributions (13) (12) (12)
Other non‑cash operating activities and reconciling adjustments (241) (274) (93)
Changes in assets and liabilities      
Accounts receivable and accrued revenue (155) 241 (677)
Inventories 164 185 (450)
Accounts payable and accrued rate refunds 15 (136) 4
Other current assets and liabilities 42 (21) 14
Other non‑current assets and liabilities 196 147 (4)
Net cash provided by operating activities 2,370 2,309 855
Cash Flows from Investing Activities      
Cost to retire property and other investing activities (160) (167) (107)
Net cash used in investing activities (3,054) (3,386) (2,476)
Cash Flows from Financing Activities      
Proceeds from issuance of debt 1,962 3,551 1,899
Retirement of debt (952) (2,132) (106)
Increase (decrease) in notes payable (28) 73 20
Other financing costs (21) (42) (58)
Net cash provided by financing activities 614 1,143 1,327
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts (70) 66 (294)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 248 182 476
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 178 248 182
Cash transactions      
Interest paid (net of amounts capitalized) 677 607 490
Income taxes paid (proceeds from sale of renewable energy tax credits), net (69) 15 1
Non‑cash transactions      
Capital expenditures not paid 517 265 228
ASP gain      
Cash Flows from Investing Activities      
Proceeds from sale of ASP business 124 0 0
Capital Expenditures      
Cash Flows from Investing Activities      
Capital expenditures (excludes assets placed under finance lease) (3,018) (2,407) (2,374)
Covert Plant Acquisition      
Cash Flows from Investing Activities      
Capital expenditures (excludes assets placed under finance lease) 0 (812) 0
Consumers Energy Company      
Cash Flows from Operating Activities      
Net Income 1,009 867 945
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 1,191 1,137 1,088
Deferred income taxes and investment tax credits 115 156 134
Bad debt expense 33 34 50
Postretirement benefits contributions (9) (9) (9)
Other non‑cash operating activities and reconciling adjustments (137) (123) (87)
Changes in assets and liabilities      
Accounts receivable and accrued revenue (153) 219 (660)
Inventories 164 186 (447)
Accounts payable and accrued rate refunds 19 (127) (9)
Other current assets and liabilities 75 (35) 18
Other non‑current assets and liabilities 139 125 (29)
Net cash provided by operating activities 2,446 2,430 994
Cash Flows from Investing Activities      
Cost to retire property and other investing activities (154) (141) (105)
Net cash used in investing activities (2,872) (3,201) (2,344)
Cash Flows from Financing Activities      
Proceeds from issuance of debt 1,297 2,666 1,799
Retirement of debt (389) (1,654) (28)
Stockholder contribution 735 475 685
Return of stockholder contribution (320) 0 0
Payment of dividends on common and preferred stock (797) (697) (771)
Other financing costs (9) (21) (22)
Net cash provided by financing activities 489 767 1,366
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts 63 (4) 16
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 56 60 44
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 119 56 60
Cash transactions      
Interest paid (net of amounts capitalized) 484 417 309
Income taxes paid (proceeds from sale of renewable energy tax credits), net (19) 31 (2)
Non‑cash transactions      
Capital expenditures not paid 395 264 210
Consumers Energy Company | Nonrelated Party      
Cash Flows from Financing Activities      
Increase (decrease) in notes payable (28) 73 20
Consumers Energy Company | Related Party      
Cash Flows from Financing Activities      
Increase (decrease) in notes payable 0 (75) (317)
Consumers Energy Company | ASP gain      
Cash Flows from Investing Activities      
Proceeds from sale of ASP business 124 0 0
Consumers Energy Company | Capital Expenditures      
Cash Flows from Investing Activities      
Capital expenditures (excludes assets placed under finance lease) (2,842) (2,248) (2,239)
Consumers Energy Company | Covert Plant Acquisition      
Cash Flows from Investing Activities      
Capital expenditures (excludes assets placed under finance lease) $ 0 $ (812) $ 0