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Plant, Property, and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Public Utility, Property, Plant and Equipment [Line Items]  
Schedule of Property, Plant and Equipment
Presented in the following table are details of CMS Energy’s and Consumers’ plant, property, and equipment:
In Millions, Except as Noted
December 31Estimated
Depreciable
Life in Years		20242023
CMS Energy, including Consumers
Plant, property, and equipment, gross
Consumers
3 – 125
$33,434 $31,723 
NorthStar Clean Energy
Independent power production1
3 – 40
1,452 1,387 
Assets under finance leases2
45 24 
Other
3 – 5
1 1 
Plant, property, and equipment, gross$34,932 $33,135 
Construction work in progress2,098 944 
Accumulated depreciation and amortization(9,569)(9,007)
Total plant, property, and equipment3
$27,461 $25,072 
Consumers
Plant, property, and equipment, gross
Electric
Generation
15 – 125
$6,576 $6,511 
Distribution
15 – 75
12,135 11,339 
Other
5 – 55
1,307 1,355 
Assets under finance leases2
119 97 
Gas
Distribution
20 – 85
7,942 7,452 
Transmission
17 – 75
3,081 2,806 
Underground storage facilities4
29 – 75
1,405 1,295 
Other
5 – 55
828 815 
Assets under finance leases2
12 15 
Other non-utility property
3 – 51
29 38 
Plant, property, and equipment, gross$33,434 $31,723 
Construction work in progress1,766 845 
Accumulated depreciation and amortization(9,310)(8,796)
Total plant, property, and equipment2
$25,890 $23,772 
1A portion of independent power production assets are leased to others under operating leases. For information regarding CMS Energy’s operating leases of owned assets, see Note 8, Leases.
2For information regarding the amortization terms of CMS Energy’s and Consumers’ assets under finance leases, see Note 8, Leases.
3Consumers’ plant additions were $2.1 billion for the year ended December 31, 2024 and $3.1 billion for the year ended December 31, 2023. Consumers’ plant retirements were $390 million for the year ended December 31, 2024 and $856 million for the year ended December 31, 2023.
4Underground storage includes base natural gas of $26 million at December 31, 2024 and 2023. Base natural gas is not subject to depreciation.
Summary of Finite-Lived Intangible Assets by Major Class Presented in the following table are details about Consumers’ intangible assets:
In Millions, Except as Noted
DescriptionAmortization Life in YearsDecember 31, 2024December 31, 2023
Gross Cost1
Accumulated Amortization
Gross Cost1
Accumulated Amortization
Consumers
Software development
3 – 15
$679 $481 $772 $543 
Rights of way
50 – 85
253 68 229 64 
Franchises and consents
5 – 50
16 11 16 11 
Leasehold improvements
various2
13 7 11 7 
Other intangiblesvarious28 16 24 15 
Total$989 $583 $1,052 $640 
1Consumers’ intangible asset additions were $90 million for the year ended December 31, 2024 and $80 million for the year ended December 31, 2023. Consumers’ intangible asset retirements were $153 million for the year ended December 31, 2024 and $142 million for the year ended December 31, 2023.
2Leasehold improvements are amortized over the life of the lease, which may change whenever the lease is renewed or extended.
Summary of Accumulated Depreciation and Amortization Presented in the following table are further details about CMS Energy’s and Consumers’ accumulated depreciation and amortization:
In Millions
Years Ended December 3120242023
CMS Energy, including Consumers
Utility plant assets$9,307 $8,790 
Non-utility plant assets262 217 
Consumers
Utility plant assets$9,307 $8,790 
Non-utility plant assets3 6 
Summary of Depreciation and Amortization
Presented in the following table are the components of CMS Energy’s and Consumers’ depreciation and amortization expense:
In Millions
Years Ended December 31202420232022
CMS Energy, including Consumers
Depreciation expense – plant, property, and equipment$1,041 $1,050 $990 
Amortization expense
Software81 92 103 
Other intangible assets5 5 5 
Other regulatory assets2 — — 
Securitized regulatory assets111 33 28 
Total depreciation and amortization expense$1,240 $1,180 $1,126 
Consumers
Depreciation expense – plant, property, and equipment$992 $1,007 $952 
Amortization expense
Software81 92 103 
Other intangible assets5 5 5 
Other regulatory assets2 — — 
Securitized regulatory assets111 33 28 
Total depreciation and amortization expense$1,191 $1,137 $1,088 
Schedule of Estimated Amortization Expense for Intangibles
Presented in the following table is Consumers’ estimated amortization expense on intangible assets for each of the next five years:
In Millions
20252026202720282029
Consumers
Intangible asset amortization expense$94 $90 $83 $77 $75 
Consumers Energy Company  
Public Utility, Property, Plant and Equipment [Line Items]  
Schedule of Property, Plant and Equipment
Presented in the following table are details of CMS Energy’s and Consumers’ plant, property, and equipment:
In Millions, Except as Noted
December 31Estimated
Depreciable
Life in Years		20242023
CMS Energy, including Consumers
Plant, property, and equipment, gross
Consumers
3 – 125
$33,434 $31,723 
NorthStar Clean Energy
Independent power production1
3 – 40
1,452 1,387 
Assets under finance leases2
45 24 
Other
3 – 5
1 1 
Plant, property, and equipment, gross$34,932 $33,135 
Construction work in progress2,098 944 
Accumulated depreciation and amortization(9,569)(9,007)
Total plant, property, and equipment3
$27,461 $25,072 
Consumers
Plant, property, and equipment, gross
Electric
Generation
15 – 125
$6,576 $6,511 
Distribution
15 – 75
12,135 11,339 
Other
5 – 55
1,307 1,355 
Assets under finance leases2
119 97 
Gas
Distribution
20 – 85
7,942 7,452 
Transmission
17 – 75
3,081 2,806 
Underground storage facilities4
29 – 75
1,405 1,295 
Other
5 – 55
828 815 
Assets under finance leases2
12 15 
Other non-utility property
3 – 51
29 38 
Plant, property, and equipment, gross$33,434 $31,723 
Construction work in progress1,766 845 
Accumulated depreciation and amortization(9,310)(8,796)
Total plant, property, and equipment2
$25,890 $23,772 
1A portion of independent power production assets are leased to others under operating leases. For information regarding CMS Energy’s operating leases of owned assets, see Note 8, Leases.
2For information regarding the amortization terms of CMS Energy’s and Consumers’ assets under finance leases, see Note 8, Leases.
3Consumers’ plant additions were $2.1 billion for the year ended December 31, 2024 and $3.1 billion for the year ended December 31, 2023. Consumers’ plant retirements were $390 million for the year ended December 31, 2024 and $856 million for the year ended December 31, 2023.
4Underground storage includes base natural gas of $26 million at December 31, 2024 and 2023. Base natural gas is not subject to depreciation.
Assets Under Finance Leases: Presented in the following table are further details about changes in CMS Energy’s and Consumers’ assets under finance leases:
In Millions
Years Ended December 3120242023
CMS Energy, including Consumers
Balance at beginning of period$136 $170 
Additions55 — 
Net retirements and other adjustments(15)(34)
Balance at end of period$176 $136 
Consumers
Balance at beginning of period$112 $146 
Additions34 — 
Net retirements and other adjustments(15)(34)
Balance at end of period$131 $112 
Summary of Finite-Lived Intangible Assets by Major Class Presented in the following table are details about Consumers’ intangible assets:
In Millions, Except as Noted
DescriptionAmortization Life in YearsDecember 31, 2024December 31, 2023
Gross Cost1
Accumulated Amortization
Gross Cost1
Accumulated Amortization
Consumers
Software development
3 – 15
$679 $481 $772 $543 
Rights of way
50 – 85
253 68 229 64 
Franchises and consents
5 – 50
16 11 16 11 
Leasehold improvements
various2
13 7 11 7 
Other intangiblesvarious28 16 24 15 
Total$989 $583 $1,052 $640 
1Consumers’ intangible asset additions were $90 million for the year ended December 31, 2024 and $80 million for the year ended December 31, 2023. Consumers’ intangible asset retirements were $153 million for the year ended December 31, 2024 and $142 million for the year ended December 31, 2023.
2Leasehold improvements are amortized over the life of the lease, which may change whenever the lease is renewed or extended.
Summary of Average Capitalization Rates Presented in the following table are Consumers’ average AFUDC capitalization rates:
Years Ended December 31202420232022
Electric6.9 %6.5 %6.2 %
Gas5.8 5.8 5.6 
Summary of Accumulated Depreciation and Amortization Presented in the following table are further details about CMS Energy’s and Consumers’ accumulated depreciation and amortization:
In Millions
Years Ended December 3120242023
CMS Energy, including Consumers
Utility plant assets$9,307 $8,790 
Non-utility plant assets262 217 
Consumers
Utility plant assets$9,307 $8,790 
Non-utility plant assets3 6 
Summary of Composite Depreciation Rates for Properties Presented in the following table are the composite depreciation rates for Consumers’ segment properties:
Years Ended December 31202420232022
Electric utility property3.6 %3.8 %3.7 %
Gas utility property2.5 2.8 2.9 
Other property7.1 7.8 8.9 
Summary of Depreciation and Amortization
Presented in the following table are the components of CMS Energy’s and Consumers’ depreciation and amortization expense:
In Millions
Years Ended December 31202420232022
CMS Energy, including Consumers
Depreciation expense – plant, property, and equipment$1,041 $1,050 $990 
Amortization expense
Software81 92 103 
Other intangible assets5 5 5 
Other regulatory assets2 — — 
Securitized regulatory assets111 33 28 
Total depreciation and amortization expense$1,240 $1,180 $1,126 
Consumers
Depreciation expense – plant, property, and equipment$992 $1,007 $952 
Amortization expense
Software81 92 103 
Other intangible assets5 5 5 
Other regulatory assets2 — — 
Securitized regulatory assets111 33 28 
Total depreciation and amortization expense$1,191 $1,137 $1,088 
Schedule of Estimated Amortization Expense for Intangibles
Presented in the following table is Consumers’ estimated amortization expense on intangible assets for each of the next five years:
In Millions
20252026202720282029
Consumers
Intangible asset amortization expense$94 $90 $83 $77 $75 
Summary of Jointly Owned Regulated Utility Facilities
Presented in the following table are Consumers’ investments in jointly owned regulated utility facilities at December 31, 2024:
In Millions, Except Ownership Share
J.H. Campbell Unit 3LudingtonOther
Ownership share93.3 %51.0 %various
Utility plant in service$1,725 $621 $445 
Accumulated provision for depreciation(856)(242)(95)
Plant under construction— 13 29 
Net investment$869 $392 $379