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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating Revenue $ 1,492 $ 1,449 $ 3,445 $ 3,278
Operating Expenses        
Fuel for electric generation 115 125 247 242
Purchased and interchange power 393 373 775 706
Purchased power – related parties 19 21 38 43
Cost of gas sold 112 111 493 447
Maintenance and other operating expenses 326 315 636 605
Depreciation and amortization 204 197 483 459
General taxes 68 66 155 147
Total operating expenses 1,237 1,208 2,827 2,649
Operating Income 255 241 618 629
Other Income (Expense)        
Interest income 4 2 6 7
Allowance for equity funds used during construction 1 2 2 4
Income from equity method investees 4 3 7 7
Nonoperating retirement benefits, net 22 4 46 7
Other income 0 0 1 2
Other expense (9) (2) (11) (4)
Total other income 22 9 51 23
Interest Charges        
Interest on long-term debt 103 103 203 203
Other interest expense 10 8 21 16
Allowance for borrowed funds used during construction (1) (1) (1) (2)
Total interest charges 112 110 223 217
Income Before Income Taxes 165 140 446 435
Income Tax Expense 25 47 65 143
Net Income 140 93 381 292
Income Attributable to Noncontrolling Interests 1 1 1 1
Net Income Available to Common Stockholders $ 139 $ 92 $ 380 $ 291
Basic earnings per average common share (in dollars per share) $ 0.49 $ 0.33 $ 1.35 $ 1.04
Diluted earnings per average common share (in dollars per share) 0.49 0.33 1.35 1.04
Dividends declared per common share (in dollars per share) $ 0.3575 $ 0.3325 $ 0.7150 $ 0.6650
Consumers Energy Company        
Operating Revenue $ 1,395 $ 1,362 $ 3,250 $ 3,099
Operating Expenses        
Fuel for electric generation 86 100 188 189
Purchased and interchange power 388 369 766 700
Purchased power – related parties 19 22 39 44
Cost of gas sold 108 105 485 437
Maintenance and other operating expenses 298 285 580 550
Depreciation and amortization 201 195 478 455
General taxes 66 64 151 143
Total operating expenses 1,166 1,140 2,687 2,518
Operating Income 229 222 563 581
Other Income (Expense)        
Interest income 2 2 4 6
Allowance for equity funds used during construction 1 2 2 4
Nonoperating retirement benefits, net 20 2 42 5
Other income 0 0 1 14
Other expense (3) (2) (5) (4)
Total other income 20 4 44 25
Interest Charges        
Interest on long-term debt 67 66 134 132
Other interest expense 4 4 9 7
Allowance for borrowed funds used during construction (1) (1) (1) (2)
Total interest charges 70 69 142 137
Income Before Income Taxes 179 157 465 469
Income Tax Expense 27 53 71 154
Net Income 152 104 394 315
Preferred Stock Dividends 1 1 1 1
Net Income Available to Common Stockholders $ 151 $ 103 $ 393 $ 314