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Consolidated Statements Of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Revenue $ 6,845 $ 6,873 $ 6,583
Operating Expenses      
Fuel for electric generation 493 528 505
Purchased power – related parties 75 81 86
Maintenance and other operating expenses 1,448 1,417 1,236
Depreciation and amortization 992 933 881
General taxes 333 303 284
Total operating expenses 5,606 5,711 5,245
Operating Income 1,239 1,162 1,338
Other Income (Expense)      
Interest income 7 11 12
Allowance for equity funds used during construction 10 6 5
Income from equity method investees 10 9 15
Nonoperating retirement benefits, net 91 90 24
Other income 4 2 6
Other expense (13) (48) (76)
Total other income (expense) 109 70 (14)
Interest Charges      
Interest on long-term debt 439 412 406
Interest expense – related parties 9 0 0
Other interest expense 75 49 34
Allowance for borrowed funds used during construction (4) (3) (2)
Total interest charges 519 458 438
Income Before Income Taxes 829 774 886
Income Tax Expense 147 115 424
Net Income 682 659 462
Income Attributable to Noncontrolling Interests 2 2 2
Net Income Available to Common Stockholders $ 680 $ 657 $ 460
Basic earnings per average common share (in dollars per share) $ 2.40 $ 2.33 $ 1.64
Diluted earnings per average common share (in dollars per share) $ 2.39 $ 2.32 $ 1.64
Consumers Energy Company      
Operating Revenue $ 6,376 $ 6,464 $ 6,222
Operating Expenses      
Fuel for electric generation 375 407 398
Purchased and interchange power 1,470 1,587 1,491
Purchased power – related parties 75 83 90
Cost of gas sold 754 819 730
Maintenance and other operating expenses 1,275 1,287 1,113
Depreciation and amortization 975 921 872
General taxes 322 295 276
Total operating expenses 5,246 5,399 4,970
Operating Income 1,130 1,065 1,252
Other Income (Expense)      
Interest income 5 8 9
Interest and dividend income – related parties 5 2 1
Allowance for equity funds used during construction 10 6 5
Nonoperating retirement benefits, net 85 83 21
Other income 3 2 17
Other expense (13) (30) (58)
Total other income (expense) 95 71 (5)
Interest Charges      
Interest on long-term debt 277 276 263
Interest expense – related parties 9 0 0
Other interest expense 15 16 15
Allowance for borrowed funds used during construction (4) (3) (2)
Total interest charges 297 289 276
Income Before Income Taxes 928 847 971
Income Tax Expense 185 142 339
Net Income 743 705 632
Preferred Stock Dividends 2 2 2
Net Income Available to Common Stockholders 741 703 630
Purchased and interchange power      
Operating Expenses      
Cost of goods and services sold 1,496 1,613 1,503
Cost of gas sold      
Operating Expenses      
Cost of goods and services sold $ 769 $ 836 $ 750