XML 85 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating Revenue $ 1,546 $ 1,599 $ 5,050 $ 5,044
Operating Expenses        
Fuel for electric generation 130 150 391 397
Purchased power – related parties 19 21 53 59
Maintenance and other operating expenses 313 366 1,010 1,002
Depreciation and amortization 215 206 729 689
General taxes 70 67 247 222
Total operating expenses 1,195 1,305 4,122 4,132
Operating Income 351 294 928 912
Other Income (Expense)        
Interest income 2 2 5 8
Allowance for equity funds used during construction 2 2 7 4
Income (loss) from equity method investees 5 (1) 6 6
Nonoperating retirement benefits, net 22 22 68 68
Other income 0 1 3 2
Other expense 0 (4) (8) (15)
Total other income 31 22 81 73
Interest Charges        
Interest on long-term debt 111 101 327 304
Interest expense – related parties 3 0 6 0
Other interest expense 20 14 55 35
Allowance for borrowed funds used during construction (1) (1) (3) (2)
Total interest charges 133 114 385 337
Income Before Income Taxes 249 202 624 648
Income Tax Expense 42 33 110 98
Net Income 207 169 514 550
Income Attributable to Noncontrolling Interests 0 0 1 1
Net Income Available to Common Stockholders $ 207 $ 169 $ 513 $ 549
Basic earnings per average common share (in dollars per share) $ 0.73 $ 0.60 $ 1.81 $ 1.95
Diluted earnings per average common share (in dollars per share) $ 0.73 $ 0.59 $ 1.81 $ 1.94
Consumers Energy Company        
Operating Revenue $ 1,429 $ 1,502 $ 4,706 $ 4,752
Operating Expenses        
Fuel for electric generation 101 122 295 310
Purchased and interchange power 408 440 1,132 1,206
Purchased power – related parties 19 22 53 61
Cost of gas sold 32 45 537 530
Maintenance and other operating expenses 272 334 911 914
Depreciation and amortization 210 203 716 681
General taxes 68 65 240 216
Total operating expenses 1,110 1,231 3,884 3,918
Operating Income 319 271 822 834
Other Income (Expense)        
Interest income 2 2 4 6
Interest and dividend income – related parties 1 1 3 1
Allowance for equity funds used during construction 2 2 7 4
Nonoperating retirement benefits, net 21 21 64 63
Other income 0 0 2 1
Other expense 0 (4) (8) (9)
Total other income 26 22 72 66
Interest Charges        
Interest on long-term debt 69 69 206 203
Interest expense – related parties 3 0 6 0
Other interest expense 4 5 11 14
Allowance for borrowed funds used during construction (1) (1) (3) (2)
Total interest charges 75 73 220 215
Income Before Income Taxes 270 220 674 685
Income Tax Expense 57 40 137 111
Net Income 213 180 537 574
Preferred Stock Dividends 0 0 1 1
Net Income Available to Common Stockholder 213 180 536 573
Purchased and interchange power        
Operating Expenses        
Cost of sales 413 447 1,147 1,222
Cost of gas sold        
Operating Expenses        
Cost of sales $ 35 $ 48 $ 545 $ 541