XML 152 R5.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net Income $ 682 $ 659 $ 462
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 992 933 881
Deferred income taxes and investment tax credits 150 182 417
Bad debt expense 67 54 49
Other non‑cash operating activities and reconciling adjustments (58) 22 82
Postretirement benefits contributions (10) (252) (12)
Cash provided by (used in) changes in assets and liabilities      
Accounts and notes receivable and accrued revenue 45 15 (66)
Inventories 44 14 (46)
Accounts payable and accrued rate refunds (69) 22 49
Other current and non‑current assets and liabilities (53) 54 (111)
Net cash provided by operating activities 1,790 1,703 1,705
Cash Flows from Investing Activities      
Capital expenditures (excludes assets placed under finance lease) (2,104) (2,074) (1,665)
Proceeds from DB SERP investments 0 146 0
Increase in EnerBank notes receivable (401) (307) (138)
Purchase of notes receivable by EnerBank (343) (225) 0
Proceeds from sale of EnerBank notes receivable 67 0 50
Proceeds from sale of transmission equipment 97 0 0
Cost to retire property and other investing activities (132) (146) (115)
Net cash used in investing activities (2,816) (2,606) (1,868)
Cash Flows from Financing Activities      
Proceeds from issuance of debt 2,151 2,767 1,633
Retirement of debt (1,285) (1,870) (980)
Increase in EnerBank certificates of deposit 631 513 47
Decrease in notes payable (7) (73) (228)
Issuance of common stock 12 41 83
Payment of dividends on common and preferred stock (436) (407) (377)
Debt prepayment costs (8) (36) (22)
Other financing costs (50) (61) (46)
Net cash provided by financing activities 1,008 874 110
Net Decrease in Cash and Cash Equivalents, Including Restricted Amounts (18) (29) (53)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 175 204 257
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 157 175 204
Cash transactions      
Interest paid (net of amounts capitalized) 498 458 418
Income taxes paid (refunds received), net (58) (123) 5
Non‑cash transactions      
Capital expenditures not paid 170 158 172
Other assets placed under finance lease 0 0 3
Consumers Energy Company      
Cash Flows from Operating Activities      
Net Income 743 705 632
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 975 921 872
Deferred income taxes and investment tax credits 37 123 163
Bad debt expense     29
Other non‑cash operating activities and reconciling adjustments (32) 13 59
Postretirement benefits contributions (7) (242) (8)
Cash provided by (used in) changes in assets and liabilities      
Accounts and notes receivable and accrued revenue 8 (26) (63)
Inventories 40 15 (45)
Accounts payable and accrued rate refunds (63) 12 43
Other current and non‑current assets and liabilities (129) (101) 33
Net cash provided by operating activities 1,601 1,449 1,715
Cash Flows from Investing Activities      
Capital expenditures (excludes assets placed under finance lease) (2,085) (1,822) (1,632)
Proceeds from DB SERP investments 0 106 0
DB SERP investment in note receivable – related party 0 (106) 0
Proceeds from sale of transmission equipment 77 0 0
Cost to retire property and other investing activities (129) (149) (119)
Net cash used in investing activities (2,137) (1,971) (1,751)
Cash Flows from Financing Activities      
Proceeds from issuance of debt 993 2,106 834
Retirement of debt (541) (1,193) (555)
Decrease in notes payable (7) (73) (228)
Stockholder contribution 675 250 450
Payment of dividends on common and preferred stock (594) (533) (524)
Debt prepayment costs (8) (20) (4)
Other financing costs (10) (24) (24)
Net cash provided by financing activities 508 513 (51)
Net Decrease in Cash and Cash Equivalents, Including Restricted Amounts (28) (9) (87)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 56 65 152
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 28 56 65
Cash transactions      
Interest paid (net of amounts capitalized) 279 287 266
Income taxes paid (refunds received), net 132 156 (1)
Non‑cash transactions      
Capital expenditures not paid 160 143 160
Other assets placed under finance lease $ 0 $ 0 $ 3