U-3A-2/A 1 consu3a2revisedtxt.txt 2002 CONSUMERS FORM U-3A-2 AMENDMENT File No. 69-333 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-3A-2 STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 _______________________________________________ TO BE FILED ANNUALLY PRIOR TO MARCH 1 _______________________________________________ CONSUMERS ENERGY COMPANY (Name of Company) hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the following information: March 1, 2002
1. Name, state of organization, location and nature of business of claimant and every subsidiary thereof, other than any exempt wholesale generator (EWG) or foreign utility company in which claimant directly or indirectly holds an interest. Consumers Energy Company Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Energy Company is a Michigan corporation engaged in the generation, purchase, transmission, distribution and sell of electricity, and in the purchase, storage, transmission, distribution and sell of natural gas, in the lower peninsula of the state of Michigan. 1. CMS Engineering Co. Address: 212 West Michigan Avenue, Jackson, Michigan 49201 CMS Engineering Company is a Michigan corporation engaged in offering design, engineering, project management and related construction services to natural gas utilities, natural gas exploration and production companies, and other energy businesses. 2. CMS Midland Holdings Company Address: 212 West Michigan Avenue, Jackson, Michigan 49201 CMS Midland Holdings Company is a Michigan corporation involved as a Limited Partner in the First Midland Limited Partnership, a Delaware limited partnership, which leases assets to the Midland Cogeneration Venture Limited Partnership, a Michigan limited partnership. 3. CMS Midland, Inc. Address: 212 West Michigan Avenue, Jackson, Michigan 49201 CMS Midland, Inc. is as Michigan corporation engaged as a 49% General Partner in the Midland Cogeneration Venture Limited Partnership, a Michigan limited partnership. 4. Consumers Campus Holdings, LLC Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Campus Holdings, LLC is a Michigan limited liability company formed for the purpose of being the lessee in the synthetic lease financing of the new Consumers Energy Company office building to be located in downtown Jackson, Michigan.
5. Consumers EnergyGuard Services, Inc. Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers EnergyGuard Services, Inc., is a Michigan corporation formed for the purpose of marketing EnergyGuard, a residential bill payment insurance product to Consumers' residential customers. 6. Consumers Funding LLC Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Funding LLC is a Delaware limited liability company formed for the purpose of acting as assignee of property transferred by Consumers and issuer of securitization bonds. 7. Consumers Nuclear Services, LLC Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Nuclear Services, LLC is a Michigan limited liability company formed for the purpose of holding the 20% member interest in Nuclear Management LLC. 7.1 Nuclear Management Company, LLC (20%) Address: 700 First Street, Hudson, Wisconsin 54016 Nuclear Management Company, LLC is a Wisconsin limited liability company formed to achieve enhanced reliability and continued safe operation, to pursue overall excellence in nuclear power operations, as well as to identify efficiencies in the provision of operating services to nuclear facilities. 8. Consumers Receivables Funding, LLC Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Receivables Funding, LLC is a Delaware limited liability company formed to buy certain accounts receivables from Consumers Energy Company and sell them to a third party. 9. ES Services Company Address: 212 West Michigan Avenue, Jackson, Michigan 49201 ES Services Company is a Michigan corporation formed for the purpose of offering design, engineering, project management and related services primarily to electric utilities and generation facilities.
10. MEC Development Corp. Address: 212 West Michigan Avenue, Jackson, Michigan 49201 MEC Development Corp. is a Michigan corporation that previously held assets transferred to and holder of certain bonds issued by the Midland Cogeneration Venture Limited Partnership, a Michigan limited partnership. 11. Michigan Electric Transmission Company Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Michigan Electric Transmission Company is a Michigan corporation formed for the purpose of owning electric transmission facilities acquired from Consumers. 12. Michigan Gas Storage Company Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Michigan Gas Storage Company is a Michigan corporation and a natural gas company within the meaning of the Natural Gas Act engaged in the interstate transportation and storage of gas for a number of customers including Consumers. 13. Consumers Parnall Holdings, LLC Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Parnall Holdings, LLC is a Michigan limited liability corporation formed for the purpose of holding the interest of CEC Investments I, Inc. and related to the Parnall Road building pending a purchase of the title to the land by Consumers. 14. Consumers Power Company Financing I Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Power Company Financing I is a Delaware Trust established to issue Trust Preferred Securities. 15. Consumers Energy Company Financing II Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Energy Company Financing II is a Delaware Trust established to issue Trust Preferred Securities.
16. Consumers Energy Company Financing III Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Energy Company Financing III is a Delaware Trust established to issue Trust Preferred Securities. 17. Consumers Energy Company Financing IV Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Energy Company Financing IV is a Delaware Trust established to issue Trust Preferred Securities. 18. Consumers Energy Company Financing V Address: 212 West Michigan Avenue, Jackson, Michigan 49201 Consumers Energy Company Financing V is a Delaware Trust established to issue Trust Preferred Securities.
2. A brief description of the properties of claimant and each of its subsidiary public utility companies used for the generation, transmission and distribution of electric energy for sale, or for the production, transmission and distribution of natural or manufactured gas, indicating the location of principal generating plants, transmission lines, producing fields, gas manufacturing plants, and electric and gas distribution facilities, including all such properties which are outside the State in which claimant and its subsidiaries are organized and all transmission or pipelines which deliver or receive electric energy or gas at the borders of such State. --------------------------------------------------------------------------------------------------------------------------- Claimant's subsidiary Consumers is a public utility. Its property and facilities used for the above-described purposes are located within the State of Michigan and are described below. (1) Electric Properties Consumers' electric generation is supplied by the following plants: 2001 2001 Summer Net Demonstrated Size and Year Capability (kWhs) Net Generation Name and Location (Michigan) Entering Service (Thousands of kWhs) Coal Generation J H Campbell 1&2 - West Olive 2 Units, 1962-1967 615,000 3,654,739 J H Campbell 3 - West Olive 1 Unit, 1980 765,140(a) 5,612,688 D E Karn - Essexville 2 Units, 1959-1961 515,000 3,611,668 B C Cobb - Muskegon 2 Units, 1956-1957 316,000 2,029,002 J R Whiting - Erie 3 Units, 1952-1953 326,000 2,119,458 J C Weadock - Essexville 2 Units, 1955-1958 310,000 2,175,729 Total Coal Generation 2,847,140 19,203,284 Oil/Gas Generation B C Cobb - Muskegon 3 Units, 1999-2000 183,000 58,328 D E Karn - Essexville 2 Units, 1975-1977 1,276,000 928,427 Total Oil/Gas Generation 1,459,000 986,755 Hydroelectric Conventional Hydro Generation 13 Plants, 1907-1949 73,540 422,576 Ludington Pumped Storage 6 Units, 1973 954,700(b) (553,135)(c) Total Hydroelectric 1,028,240 (130,559) Nuclear Generation Palisades - South Haven 1 Unit, 1971 760,000 2,325,720
Total Nuclear Generation 760,000 2,325,720 Gas/Oil Combustion Turbine Generation 8 Plants, 1966-1999 346,800(d) 14,711 Total Gas/Oil Combustion Turbine 346,800 14,711 Total owned generation 6,441,180 22,399,911 Purchased and Interchange Power Capacity 1,644,180(e) TOTAL 8,085,360 (a) Represents Consumers' share of the capacity of the J H Campbell 3, net of 6.69 percent (ownership interests of the Michigan Public Power Agency and Wolverine Power Supply Cooperative, Inc.). (b) Represents Consumers' share of the capacity of Ludington. Consumers and Detroit Edison have 51 percent and 49 percent undivided ownership, respectively, in the plant. (c) Represents Consumers' share of net pumped storage generation. This facility electrically pumps water during off-peak hours for storage to later generate electricity during peak-demand hours. (d) Includes 1.8 MW of distributed generation. (e) Includes 1,240 MW of purchased contract capacity from the MCV Facility. Electric subtransmission and distribution lines are located on or under public highways, streets, alleys or lands, except where they are located on or under easements or other rights. Consumers owns 340 miles of high voltage distribution radial lines. The subtransmission system consists of 4,152 structural miles of overhead lines and 16 subsurface miles of underground lines. The distribution system consists of 54,380 structural miles of overhead lines and 7,801 subsurface miles of underground lines. Consumers owns substations having an aggregate transformer capacity of 28,868,000 kilovoltamperes. On April 1, 2001, Consumers transferred its investment in electric transmission lines and substations to a wholly owned subsidiary, Michigan Electric Transmission Company (METC). The transmission system consists of 4,288 structural miles of overhead lines. METC owns substations having an aggregate transformer capacity of 12,015,660 kilovoltamperes. Consumers is interconnected with certain Michigan and neighboring utilities. Consumers owns the land and rights-of-way and METC owns the non-land assets which connect with the electric transmission lines that deliver electric energy at or near the Michigan state border to:
Indiana & Michigan Electric Company at the following interconnection points: Palisades-Cook No. 1, Palisades-Cook No. 2, Argenta-Robinson Park and Argenta-Twin Branch; and Northern Indiana Public Service Company at the following interconnection point: Barton Lake-Batavia.
(2) Gas Properties Consumers' gas distribution and transmission system consists of 24,746 miles of distribution mains and 1,099 miles of transmission lines throughout Michigan's lower peninsula. It owns and operates six compressor stations with a total of 113,680 installed horsepower. Consumers has 11 gas storage fields located across Michigan with an aggregate storage capacity of 221.3 bcf. Michigan Gas Storage's transmission system consists of 521 miles of pipelines within Michigan's lower peninsula. It owns and operates two compressor stations with a total of 53,500 installed horsepower. Michigan Gas Storage has three gas storage fields located in Osceola, Clare and Missaukee counties of Michigan with an aggregate storage capacity of 109.5 bcf. In November 2001, Michigan Gas storage filed an application with the Federal Energy Regulatory Commission for a declaration of exemption from provisions of the National Gas Act. Upon approval of the application, it is intended that Michigan Gas Storage and its facilities would be merged into Consumers Energy Company. ----------------------------------------------------------------------------------------------------------------------- 3. The following information for the last calendar year with respect to claimant and each of its subsidiary public utility companies: ----------------------------------------------------------------------------------------------------------------------- ELECTRIC ENERGY (a) Number of kWh of electric energy sold (at retail or wholesale). kWh Total Electric Energy Sold 38,934,189,814 (b) Number of kWh of electric energy distributed at retail outside Michigan. kWh Total Electric Energy Distributed Outside of the State of Michigan 0 (c) Number of kWh of electric energy sold at wholesale outside Michigan or at Michigan's state line. kWh Total Electric Energy Sold at Wholesale Outside the 1,922,071,000 State of Michigan or at Michigan's State Line.
(d) Number of kWh of electric energy purchased outside Michigan or at Michigan's state line. kWh Total Electric Energy Purchased Outside of Michigan 6,932,983,000 NATURAL GAS CMS Energy information reports for natural gas, as it does not deal with or in manufactured gas. (a) Number of Mcf of natural gas distributed at retail. Mcf Total Natural Gas Distributed at Retail 230,729,000 (b) Number of Mcf of natural gas distributed at retail outside Michigan. Mcf Total Natural Gas Distributed at Retail 0 Outside the State of Michigan (c) Number of Mcf of natural gas sold at wholesale outside Michigan or at Michigan's state line. Mcf Total Natural Gas Sold at Wholesale Outside Michigan 0 or at Michigan's State Line. (d) Number of Mcf of natural gas purchased outside Michigan. Mcf Total Natural Gas Purchased Outside of Michigan 239,839,000
4. The following information for the reporting period with respect to claimant and each interest it holds directly or indirectly in an EWG or a foreign utility company, stating monetary amounts in United States dollars: (a) Name, location, business address and description of the facilities used by the EWG or foreign utility company for the generation, transmission and distribution of electric energy for sale or for the distribution at retail of natural or manufactured gas; NONE (b) Name of each system company that holds an interest in such EWG or foreign utility company; and description of the interest held; NONE (c) Type and amount of the capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other financial obligation for which there is recourse, directly or indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign utility company; NONE (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period; and NONE (e) Identify any service, sales or construction contract(s) between the EWG or foreign utility company and a system company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s). NONE Exhibit A-1 Consolidating statement of income and surplus of Claimant and its subsidiary companies for the calendar year 2001, together with a consolidating balance sheet of Claimant and its subsidiary companies as of the close of such calendar year. Exhibit B- Not Applicable
The above-named Claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 28th day of February, 2002. CONSUMERS ENERGY COMPANY A Michigan corporation [CORPORATE SEAL] By: /s/David A. Mikelonis . David A. Mikelonis Senior Vice President and General Counsel ATTEST: /s/Michael D. VanHemert Michael D. VanHemert Assistant Secretary Name, title, and address of officer to whom notices and correspondence concerning this Statement should be addressed: David A. Mikelonis Senior Vice President and General Counsel Consumers Energy Company 2123 West Michigan Avenue Jackson, Michigan 49201
EXHIBIT A A consolidating statement of income and surplus of Consumers Energy Company and its subsidiary companies for the last calendar year, together with a consolidating balance sheet of Consumers Energy Company and its subsidiary companies as of the close of such calendar year is attached. CONSUMERS ENERGY COMPANY Consolidating Statement of Income For the Year Ended December 31, 2001 (In Millions) Michigan CMS Inter- Consumers Consumers Electric Midland CMS Company Energy Energy Transmission Consumers Holdings Midland Elimina- Company Company (1) Company Funding LLC Company Inc. tions Consol. Operating Revenue Electric $2,649 $82 $0 $0 $0 $(98) $2,633 Gas 1,358 0 0 0 0 (20) 1,338 Other 5 0 0 14 24 0 43 -------------- --------------- -------------- ------------ ---------- ---------- ---------- Total operating revenue 4,012 82 0 14 24 (118) 4,014 ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Operating Expenses Fuel for electric generation 330 0 0 0 0 0 330 Purchased power - related parties 604 0 0 0 0 (61) 543 Purchased and interchange power 476 0 0 0 0 0 476 Cost of gas sold 707 0 0 0 0 0 707 Cost of gas sold- related parties 143 0 0 0 0 (20) 123 Loss on power purchases agreement- MCV Partnership 126 0 0 0 0 0 126 Other 636 27 0 0 0 (28) 635 Maintenance 202 10 0 0 0 (9) 203 Depreciation, depletion and amortization 329 8 0 0 2 0 339 General Taxes 183 4 0 0 0 0 187 -------------- --------------- -------------- ------------ ---------- ---------- ---------- Total operating expenses 3,736 49 0 0 2 (118) 3,669 ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Pretax Operating Income 276 33 0 14 22 0 345 ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Other Income (Deductions) Dividends and interest from affiliates 49 1 3 0 1 (48) 6 Accretion expense (10) 0 0 0 0 0 (10) Other, net 56 0 0 0 0 (51) 5 ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Total other income (deductions) 95 1 3 0 1 (99) 1 ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Interest Charges Interest on long-term debt 148 0 3 0 0 0 151 Other interest 88 0 0 0 0 (47) 41 Capitalized interest (6) 0 0 0 0 0 (6) ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Net interest charges 230 0 3 0 0 (47) 186 ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Net Income (Loss) Before Income Taxes 141 34 0 14 23 (52) 160 Income Taxes 26 12 0 3 8 0 49 ---------------- --------------- -------------- ------------ ---------- ---------- ---------- Net Income (Loss) Before Cumulative Effect of Change in Accounting 115 22 0 11 15 (52) 111 Principle Cumulative Effect of Change in Accounting for Derivative Instruments (11) 0 0 0 0 0 (11) ---------------- --------------- -------------- ------------ ---------- ---------- ---------- 104 22 0 11 15 (52) 100 Preferred Stock Dividends 2 0 0 0 0 0 2 Preferred Stock Distribution 41 0 0 0 0 0 41 -------------- --------------- -------------- ------------ ---------- ---------- ---------- Net Income (Loss) Available To Common Stockholder 61 22 0 11 15 (52) 57 -------------- --------------- -------------- ------------ ---------- ---------- ---------- Dividends on Common Stock 191 0 0 0 0 (1) 190 -------------- --------------- -------------- ------------ ---------- ---------- ---------- Net Income (Loss) After Common Dividends $(130) $22 $0 $11 $15 $(51) $(133) ============== =============== ============== ============ ========== ========== ========== (1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering Company, MEC Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing II, Consumers Energy Company Financing III,Consumers Energy Company Financing IV, Consumers EnergyGuard Services, Consumers Nuclear Services, LLC and Consumers Parnall Holdings, LLC
CONSUMERS ENERGY COMPANY Consolidating Balance Sheet Assets December 31, 2001 (In Millions) Michigan CMS Inter- Consumers Consumers Electric Consumers Midland CMS Compa Energy Energy Transmission Funding LLC Holdings Midland Elimina- Company Company(1) Company Company Inc. tions Consol. Plant (At original cost) Electric $7,211 $450 $0 $0 $0 $0 $7,661 Gas 2,593 0 0 0 0 0 2,593 Other 23 0 0 0 0 0 23 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 9,827 450 0 0 0 0 10,277 Less accumulated depreciation, depletion and amortization 5,715 219 0 0 0 0 5,934 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 4,112 231 0 0 0 0 4,343 Construction work-in-progress 435 29 0 0 0 0 464 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 4,547 260 0 0 0 0 4,807 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- Investments Stock of affiliates 746 0 0 0 0 (687) 59 First Midland Limited Partnership 0 0 0 253 0 0 253 Midland Cogeneration Venture Limited Partnership 0 0 0 0 300 0 300 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 746 0 0 253 300 (687) 612 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- Current Assets Cash and temporary cash Investments 10 0 4 0 2 0 16 Accounts receivable and accrued revenue 115 17 0 0 0 (7) 125 Accounts receivable - related parties 49 27 1 0 0 (60) 17 Notes receivable - related parties 0 0 16 0 10 (26) 0 Inventories at average cost - Gas in underground storage 569 0 0 0 0 0 569 Materials and supplies 63 6 0 0 0 0 69 Generating plant fuel stock 52 0 0 0 0 0 52 Prepaid property taxes 144 0 0 0 0 0 144 Regulatory assets 19 0 0 0 0 0 19 Other 4 10 0 0 0 0 14 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 1,025 60 21 0 12 (93) 1,025 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- Non-current Assets Regulatory Assets Securitization costs 717 0 0 0 0 0 717 Postretirement benefits 209 0 0 0 0 0 209 Abandoned Midland project 12 0 0 0 0 0 12 Other 167 0 0 0 0 0 167 Nuclear decommissioning trust funds 581 0 0 0 0 0 581 Long-term notes receivables - related parties 536 0 453 0 0 (989) 0 Other 176 0 0 0 0 0 176 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 2,398 0 453 0 0 (989) 1,862 ------------ ------------- ------------ ---------- ---------- ---------- ----------- Total Assets $8,716 $320 $474 $253 $312 $(1,769) $8,306 ============= ============ ============ ========== ========== ========== =========== (1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering Company, MEC Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing II, Consumers Energy Company Financing III, Consumers Energy Company Financing IV, Consumers EnergyGuard Services, Consumers Nuclear Services, LLC and Consumers Parnall Holdings LLC.
CONSUMERS ENERGY COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2001 (In Millions) Consumers Michigan Consumers CMS CMS Inter- Consumers Energy Electric Funding LLC Midland Midland Company Energy Company(1) Transmission Holdings Inc. Elimina- Company Company Company tions Consol. Capitalization Common Stockholders' Equity Common stock $872 $0 $0 $0 $0 $(31) $841 Paid-in-capital 640 198 2 54 168 (430) 632 Revaluation capital 5 0 0 0 (8) 7 4 Retained earnings 412 22 0 35 137 (233) 373 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 1,929 220 2 89 297 (687) 1,850 Preferred stock 44 0 0 0 0 0 44 Company-obligated mandatorily redeemable preferred securities of subsidiaries 520 0 0 0 0 0 520 Long-term debt 2,019 0 453 0 0 0 2,472 Intercompany long-term notes payable 989 0 0 0 0 (989) 0 Non-current portion of capital leases 56 0 0 0 0 0 56 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 5,557 220 455 89 297 (1,676) 4,942 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- Current Liabilities Current portion of long-term debt and capital leases 257 0 0 0 0 0 257 Notes Payable 416 0 0 0 0 0 416 Intercompany notes payable 26 0 0 0 0 (26) 0 Accounts payable 298 0 0 0 0 (7) 291 Accrued taxes 212 11 0 4 (8) 0 219 Accounts payable - related parties 122 18 0 0 0 (60) 80 Deferred income taxes 12 0 0 0 0 0 12 Other 257 0 3 0 0 0 260 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 1,584 29 19 4 (8) (93) 1,535 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- Non-current Liabilities Deferred income taxes 537 42 0 146 22 0 747 Postretirement benefits 279 0 0 0 0 0 279 Regulatory liabilities for income taxes, net 276 0 0 0 0 0 276 Power purchase agreement - MCV Partnership 169 0 0 0 0 0 169 Deferred investment tax credit 87 0 0 14 1 0 102 Other 227 29 0 0 0 0 256 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- 1,575 71 0 160 23 0 1,829 ------------ ------------- ------------ ---------- ---------- ---------- ----------- ------------ ------------- ------------ ---------- ---------- ---------- ----------- Total Stockholders' Equity and Liabilities $8,716 $320 $474 $253 $312 $(1,769) $8,306 ============ ============= ============ ========== ========== ========== =========== ============ ============= ============ ========== ========== ========== =========== (1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering Company, MEC Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing II, Consumers Energy Company Financing III, Consumers Energy Company Financing IV, Consumers EnergyGuard Services, Consumers Nuclear Services, LLC and Consumers Parnall Holdings, LLC.
CONSUMERS ENERGY COMPANY Consolidating Statement of Retained Earnings December 31, 2001 (In Millions) Michigan CMS Consumers Consumers Electric Midland Energy Energy Transmission Consumers Holdings CMS Intercompany Company Company (1) Company Funding LLC Company Midland Eliminations Consol. Inc. Balance at January 1, 2001 $542 $0 $0 $24 $122 $(182) $506 Net Income (Loss) 104 22 0 11 15 (52) 100 Less Dividends Paid Common Stock 191 0 0 0 0 (1) 190 Preferred Stock 2 0 0 0 0 0 2 Preferred Securities Distributions 41 0 0 0 0 0 41 ------------ --------------- -------------- ------------ ------------ --------------- ------------ ------------ --------------- -------------- ------------ ------------ --------------- ------------ 234 0 0 0 0 (1) 233 ------------ --------------- -------------- ------------ ------------ --------------- ------------ ------------ --------------- -------------- ------------ ------------ --------------- ------------ Balance at December 31, 2001 $412 $22 $0 $35 $137 $(233) $373 ============ =============== ============== ============ ============ =============== ============ ============ =============== ============== ============ ============ =============== ============ (1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering Company, MEC Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing II, Consumers Energy Company Financing III, Consumers Energy Company Financing IV, Consumers EnergyGuard Services, Consumers Nuclear Services, LLC and Consumers Parnall Holdings, LLC.