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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 140 $ 153
Restricted cash and cash equivalents 17 21
Accounts receivable and accrued revenue, less allowances of $20 in both periods 886 964
Notes receivable, less allowances of $33 in 2019 and $24 in 2018 223 233
Notes receivable held for sale 19 0
Accounts receivable – related parties 17 14
Accrued gas revenue 0 16
Inventories at average cost    
Gas in underground storage 399 450
Materials and supplies 140 143
Generating plant fuel stock 66 57
Deferred property taxes 305 279
Regulatory assets 33 37
Prepayments and other current assets 86 101
Total current assets 2,331 2,468
Plant, Property, and Equipment    
Plant, property, and equipment, gross 25,390 24,400
Less accumulated depreciation and amortization 7,360 7,037
Plant, property, and equipment, net 18,030 17,363
Construction work in progress 896 763
Total plant, property, and equipment 18,926 18,126
Other Non‑current Assets    
Regulatory assets 2,489 1,743
Accounts and notes receivable 2,281 1,645
Investments 71 69
Other 739 478
Total other non‑current assets 5,580 3,935
Total Assets 26,837 24,529
Current Liabilities    
Current portion of long-term debt, finance leases, and other financing 1,130 996
Notes payable 90 97
Accounts payable 622 723
Accounts payable – related parties 13 10
Accrued rate refunds 35 4
Accrued interest 104 94
Accrued taxes 437 398
Regulatory liabilities 87 155
Other current liabilities 186 147
Total current liabilities 2,704 2,624
Non‑current Liabilities    
Long-term debt 11,951 10,615
Non-current portion of finance leases and other financing 76 69
Regulatory liabilities 3,742 3,681
Postretirement benefits 674 436
Asset retirement obligations 477 432
Deferred investment tax credit 120 99
Deferred income taxes 1,655 1,487
Other non‑current liabilities 383 294
Total non‑current liabilities 19,078 17,113
Commitments and Contingencies
Common stockholders’ equity    
Common stock, authorized 350.0 shares; outstanding 283.9 shares in 2019 and 283.4 shares in 2018 3 3
Other paid-in capital 5,113 5,088
Accumulated other comprehensive loss (73) (65)
Accumulated deficit (25) (271)
Total common stockholders’ equity 5,018 4,755
Noncontrolling interests 37 37
Total equity 5,055 4,792
Total Liabilities and Equity 26,837 24,529
Consumers Energy Company    
Current Assets    
Cash and cash equivalents 11 39
Restricted cash and cash equivalents 17 17
Accounts receivable and accrued revenue, less allowances of $20 in both periods 827 855
Accounts receivable – related parties 9 15
Accrued gas revenue 0 16
Inventories at average cost    
Gas in underground storage 399 450
Materials and supplies 135 137
Generating plant fuel stock 63 52
Deferred property taxes 305 279
Regulatory assets 33 37
Prepayments and other current assets 73 83
Total current assets 1,872 1,980
Plant, property, and equipment, gross 24,963 23,963
Accumulated depreciation and amortization 7,272 6,958
Plant, Property, and Equipment    
Plant, property, and equipment, net 17,691 17,005
Construction work in progress 879 756
Total plant, property, and equipment 18,570 17,761
Other Non‑current Assets    
Regulatory assets 2,489 1,743
Accounts and notes receivable 29 27
Accounts and notes receivable – related parties 102 104
Other 637 410
Total other non‑current assets 3,257 2,284
Total Assets 23,699 22,025
Current Liabilities    
Current portion of long-term debt, finance leases, and other financing 221 48
Notes payable 90 97
Accounts payable 593 685
Accounts payable – related parties 20 14
Accrued rate refunds 35 4
Accrued interest 67 59
Accrued taxes 481 436
Regulatory liabilities 87 155
Other current liabilities 118 120
Total current liabilities 1,712 1,618
Non‑current Liabilities    
Long-term debt 7,048 6,779
Non-current portion of finance leases and other financing 76 69
Regulatory liabilities 3,742 3,681
Postretirement benefits 622 392
Asset retirement obligations 474 428
Deferred investment tax credit 120 99
Deferred income taxes 1,864 1,809
Other non‑current liabilities 304 230
Total non‑current liabilities 14,250 13,487
Commitments and Contingencies
Common stockholders’ equity    
Common stock, authorized 350.0 shares; outstanding 283.9 shares in 2019 and 283.4 shares in 2018 841 841
Other paid-in capital 5,374 4,699
Accumulated other comprehensive loss (28) (21)
Accumulated deficit 1,513 1,364
Total common stockholders’ equity 7,700 6,883
Cumulative preferred stock, $4.50 series 37 37
Total equity 7,737 6,920
Total Liabilities and Equity $ 23,699 $ 22,025