Financings and Capitalization (Tables)

6 Months Ended

Jun. 30, 2019

Debt Instrument [Line Items]

Major Long-Term Debt Transactions

Financings: Presented in the following table is a summary of major long‑term debt transactions during the six months ended June 30, 2019:

	Principal  (In Millions)			Interest Rate		Issue/Retirement Date	Maturity Date
Debt issuances
CMS Energy, parent only
Term loan facility		$	300	variable		January 2019	December 2019
Junior subordinated notes1		630		5.875	%	February 2019	March 2079
Term loan facility2		165		variable		June 2019	June 2020
Total CMS Energy, parent only		$	1,095
Consumers
First mortgage bonds		$	300	3.750	%	May 2019	February 2050
Total Consumers		$	300
Total CMS Energy		$	1,395
Debt retirements
CMS Energy, parent only
Term loan facility		$	300	variable		February 2019	December 2019
Term loan facility		180		variable		February 2019	April 2019
Total CMS Energy, parent only		$	480
Consumers
First mortgage bonds		$	300	5.650	%	May 2019	April 2020
Total Consumers		$	300
Total CMS Energy		$	780

¹  These unsecured obligations rank subordinate and junior in right of payment to all of CMS Energy’s existing and future senior indebtedness.

² 

Outstanding borrowings bear interest at an annual rate of LIBOR plus 0.500 percent (2.845 percent at June 30, 2019).

Revolving Credit Facilities

Revolving Credit Facilities: The following revolving credit facilities with banks were available at June 30, 2019:

In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
June 5, 2023		$	550		$	—		$	2		$	548
CMS Enterprises, including subsidiaries
September 30, 20251		$	18		$	—		$	8		$	10
Consumers2
June 5, 2023		$	850		$	—		$	7		$	843
November 23, 2020		250			—			15			235
September 9, 20193		30			—			30			—

¹  Under this facility, $8 million is available solely for the purpose of issuing letters of credit. Obligations under this facility are secured by the collateral accounts with the lending bank.

²  Obligations under these facilities are secured by first mortgage bonds of Consumers.

³  In July 2019, Consumers amended this revolving credit facility by extending the expiration date to April 2022.

Schedule of Forward Contracts Indexed to Issuer's Equity

Presented in the following table are details of these contracts:

Contract Date	Maturity Date	Number of Shares	Initial Forward Price Per Share
November 16, 2018	May 16, 2020	2,017,783		$	49.06
November 20, 2018	May 20, 2020	777,899		50.91
February 21, 2019	August 21, 2020	2,083,340		52.27

Consumers Energy Company

Debt Instrument [Line Items]

Major Long-Term Debt Transactions

Financings: Presented in the following table is a summary of major long‑term debt transactions during the six months ended June 30, 2019:

	Principal  (In Millions)			Interest Rate		Issue/Retirement Date	Maturity Date
Debt issuances
CMS Energy, parent only
Term loan facility		$	300	variable		January 2019	December 2019
Junior subordinated notes1		630		5.875	%	February 2019	March 2079
Term loan facility2		165		variable		June 2019	June 2020
Total CMS Energy, parent only		$	1,095
Consumers
First mortgage bonds		$	300	3.750	%	May 2019	February 2050
Total Consumers		$	300
Total CMS Energy		$	1,395
Debt retirements
CMS Energy, parent only
Term loan facility		$	300	variable		February 2019	December 2019
Term loan facility		180		variable		February 2019	April 2019
Total CMS Energy, parent only		$	480
Consumers
First mortgage bonds		$	300	5.650	%	May 2019	April 2020
Total Consumers		$	300
Total CMS Energy		$	780

¹  These unsecured obligations rank subordinate and junior in right of payment to all of CMS Energy’s existing and future senior indebtedness.

² 

Outstanding borrowings bear interest at an annual rate of LIBOR plus 0.500 percent (2.845 percent at June 30, 2019).

Revolving Credit Facilities

Revolving Credit Facilities: The following revolving credit facilities with banks were available at June 30, 2019:

In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
June 5, 2023		$	550		$	—		$	2		$	548
CMS Enterprises, including subsidiaries
September 30, 20251		$	18		$	—		$	8		$	10
Consumers2
June 5, 2023		$	850		$	—		$	7		$	843
November 23, 2020		250			—			15			235
September 9, 20193		30			—			30			—

¹  Under this facility, $8 million is available solely for the purpose of issuing letters of credit. Obligations under this facility are secured by the collateral accounts with the lending bank.

²  Obligations under these facilities are secured by first mortgage bonds of Consumers.

³  In July 2019, Consumers amended this revolving credit facility by extending the expiration date to April 2022.