Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Financial Instruments [Line Items]

Schedule of Carrying Amounts and Fair Values of Financial Instruments

For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 5, Fair Value Measurements.

In Millions
	December 31, 2024															December 31, 2023
	Carrying Amount			Fair Value												Carrying Amount			Fair Value
				Total			Level												Total			Level
							1			2			3									1			2			3
CMS Energy, including Consumers
Assets
Long-term receivables1		$	9		$	8		$	—		$	—		$	8		$	11		$	11		$	—		$	—		$	11
Liabilities
Long-term debt2		16,386			14,876			1,018			11,952			1,906			15,483			14,305			1,103			11,186			2,016
Long-term payables3		9			9			—			—			9			11			11			—			—			11
Consumers
Assets
Long-term receivables1		$	9		$	8		$	—		$	—		$	8		$	11		$	11		$	—		$	—		$	11
Notes receivable – related party4		94			94			—			—			94			97			97			—			—			97
Liabilities
Long-term debt5		11,270			9,940			—			8,034			1,906			10,762			9,757			—			7,741			2,016
Long-term debt – related party6		823			549			—			549			—			424			303			—			303			—
Long-term payables		4			4			—			—			4			5			5			—			—			5

1Includes current portion of long-term accounts receivable and notes receivable of $4 million at December 31, 2024 and $6 million at December 31, 2023.

2Includes current portion of long-term debt of $1.2 billion at December 31, 2024 and $975 million at December 31, 2023.

3Includes current portion of long-term payables of $2 million at December 31, 2024 and December 31, 2023.

4Includes current portion of notes receivable – related party of $7 million at December 31, 2024 and 2023. For more information on notes receivable – related party, see Note 17, Related-party Transactions—Consumers.

5Includes current portion of long-term debt of $452 million at December 31, 2024 and $725 million at December 31, 2023.

6For more information on CMS Energy’s repurchases of Consumers’ first mortgage bonds, see Note 4, Financings and Capitalization—CMS Energy’s Purchase of Consumers’ First Mortgage Bonds.

Consumers Energy Company

Financial Instruments [Line Items]

Schedule of Carrying Amounts and Fair Values of Financial Instruments

For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 5, Fair Value Measurements.

In Millions
	December 31, 2024															December 31, 2023
	Carrying Amount			Fair Value												Carrying Amount			Fair Value
				Total			Level												Total			Level
							1			2			3									1			2			3
CMS Energy, including Consumers
Assets
Long-term receivables1		$	9		$	8		$	—		$	—		$	8		$	11		$	11		$	—		$	—		$	11
Liabilities
Long-term debt2		16,386			14,876			1,018			11,952			1,906			15,483			14,305			1,103			11,186			2,016
Long-term payables3		9			9			—			—			9			11			11			—			—			11
Consumers
Assets
Long-term receivables1		$	9		$	8		$	—		$	—		$	8		$	11		$	11		$	—		$	—		$	11
Notes receivable – related party4		94			94			—			—			94			97			97			—			—			97
Liabilities
Long-term debt5		11,270			9,940			—			8,034			1,906			10,762			9,757			—			7,741			2,016
Long-term debt – related party6		823			549			—			549			—			424			303			—			303			—
Long-term payables		4			4			—			—			4			5			5			—			—			5

1Includes current portion of long-term accounts receivable and notes receivable of $4 million at December 31, 2024 and $6 million at December 31, 2023.

2Includes current portion of long-term debt of $1.2 billion at December 31, 2024 and $975 million at December 31, 2023.

3Includes current portion of long-term payables of $2 million at December 31, 2024 and December 31, 2023.

4Includes current portion of notes receivable – related party of $7 million at December 31, 2024 and 2023. For more information on notes receivable – related party, see Note 17, Related-party Transactions—Consumers.

5Includes current portion of long-term debt of $452 million at December 31, 2024 and $725 million at December 31, 2023.

6For more information on CMS Energy’s repurchases of Consumers’ first mortgage bonds, see Note 4, Financings and Capitalization—CMS Energy’s Purchase of Consumers’ First Mortgage Bonds.