Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:

In Millions
	CMS Energy, including Consumers						Consumers
December 31	2022			2021			2022			2021
Assets1
Restricted cash equivalents		$	18		$	24		$	17		$	22
Nonqualified deferred compensation plan assets		24			27			18			21
Derivative instruments		2			2			2			2
Total assets		$	44		$	53		$	37		$	45
Liabilities1
Nonqualified deferred compensation plan liabilities		$	24		$	27		$	18		$	21
Derivative instruments		—			7			—			—
Total liabilities		$	24		$	34		$	18		$	21

1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 2 or Level 3.

Consumers Energy Company

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:

In Millions
	CMS Energy, including Consumers						Consumers
December 31	2022			2021			2022			2021
Assets1
Restricted cash equivalents		$	18		$	24		$	17		$	22
Nonqualified deferred compensation plan assets		24			27			18			21
Derivative instruments		2			2			2			2
Total assets		$	44		$	53		$	37		$	45
Liabilities1
Nonqualified deferred compensation plan liabilities		$	24		$	27		$	18		$	21
Derivative instruments		—			7			—			—
Total liabilities		$	24		$	34		$	18		$	21

1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 2 or Level 3.

Assets Reported at Fair Value on a Nonrecurring Basis

Presented in the following table are Consumers’ assets, by level within the fair value hierarchy, reported at fair value on a nonrecurring basis during the year ended December 31, 2021:

In Millions
	Level 1			Level 2			Level 3			Gains (Losses)
Assets held for sale		$	—		$	15		$	—	$	(4)