Consumers Energy Company Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 103	$ 227
Restricted cash and cash equivalents	75	21
Inventories at average cost
Gas in underground storage	435	587
Materials and supplies	299	267
Generating plant fuel stock	35	84
Deferred property taxes	448	426
Regulatory assets	229	203
Prepayments and other current assets	103	80
Total current assets	2,790	2,839
Other Non‑current Assets
Regulatory assets	3,569	3,683
Accounts and notes receivable – related parties	20	22
Postretirement benefits	1,627	1,468
Other	384	357
Total other non‑current assets	5,669	5,606
Total Assets	35,920	33,517
Current Liabilities
Current portion of long-term debt and finance leases	1,195	980
Notes payable	65	93
Accrued rate refunds	38	54
Accrued interest	156	142
Accrued taxes	654	612
Regulatory liabilities	111	56
Other current liabilities	209	149
Total current liabilities	3,521	2,895
Non‑current Liabilities
Long-term debt	15,194	14,508
Non-current portion of finance leases	112	62
Regulatory liabilities	4,067	3,894
Postretirement benefits	96	106
Asset retirement obligations	728	771
Deferred investment tax credit	122	126
Deferred income taxes	2,925	2,615
Other non‑current liabilities	407	415
Total non‑current liabilities	23,651	22,497
Commitments and Contingencies
Common stockholders’ equity
Common stock	3	3
Other paid-in capital	6,009	5,705
Accumulated other comprehensive loss	(41)	(46)
Retained earnings	2,035	1,658
Total common stockholders’ equity	8,006	7,320
Cumulative preferred stock	224	224
Total stockholders’ equity	8,230	7,544
Total Liabilities and Equity	35,920	33,517
Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $23 in 2024 and $21 in 2023	1,049	933
Current Liabilities
Accounts payable	1,085	802
Related Party
Current Liabilities
Accounts payable	8	7
Consumers Energy Company
Current Assets
Cash and cash equivalents	44	35
Restricted cash and cash equivalents	75	21
Inventories at average cost
Gas in underground storage	435	587
Materials and supplies	291	257
Generating plant fuel stock	30	80
Deferred property taxes	448	426
Regulatory assets	229	203
Prepayments and other current assets	86	65
Total current assets	2,674	2,594
Plant, Property, and Equipment
Plant, property, and equipment, gross	33,434	31,723
Less accumulated depreciation and amortization	9,310	8,796
Plant, property, and equipment, net	24,124	22,927
Construction work in progress	1,766	845
Total plant, property, and equipment	25,890	23,772
Other Non‑current Assets
Regulatory assets	3,569	3,683
Postretirement benefits	1,514	1,367
Other	323	313
Total other non‑current assets	5,524	5,486
Total Assets	34,088	31,852
Current Liabilities
Current portion of long-term debt and finance leases	456	731
Notes payable	65	93
Accrued rate refunds	38	54
Accrued interest	130	110
Accrued taxes	678	614
Regulatory liabilities	111	56
Other current liabilities	185	128
Total current liabilities	2,592	2,563
Non‑current Liabilities
Non-current portion of finance leases	69	39
Regulatory liabilities	4,067	3,894
Postretirement benefits	70	77
Asset retirement obligations	694	739
Deferred investment tax credit	122	126
Deferred income taxes	3,053	2,789
Other non‑current liabilities	349	364
Total non‑current liabilities	20,065	18,489
Commitments and Contingencies
Common stockholders’ equity
Common stock	841	841
Other paid-in capital	8,174	7,759
Accumulated other comprehensive loss	(11)	(15)
Retained earnings	2,390	2,178
Total common stockholders’ equity	11,394	10,763
Cumulative preferred stock	37	37
Total stockholders’ equity	11,431	10,800
Total Liabilities and Equity	34,088	31,852
Consumers Energy Company | Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $23 in 2024 and $21 in 2023	1,019	909
Other Non‑current Assets
Accounts receivable	26	28
Current Liabilities
Accounts payable	917	764
Non‑current Liabilities
Long-term debt	10,818	10,037
Consumers Energy Company | Related Party
Current Assets
Accounts and notes receivable – related parties	17	11
Other Non‑current Assets
Accounts and notes receivable – related parties	92	95
Current Liabilities
Accounts payable	12	13
Non‑current Liabilities
Long-term debt	$ 823	$ 424