Financings and Capitalization (Tables)

3 Months Ended

Mar. 31, 2020

Debt Instrument [Line Items]

Major Long-Term Debt Transactions

Financings: Presented in the following table is a summary of major long‑term debt issuances during the three months ended March 31, 2020:

	Principal (In Millions)			Interest Rate		Issuance Date	Maturity Date
CMS Energy, parent only
Term loan facility¹		$	300	variable		February	February 2021
Total CMS Energy, parent only		$	300
Consumers
Term loan facility²		$	300	variable		January	January 2021
First mortgage bonds		575		3.50	%	March	August 2051
Total Consumers		$	875
Total CMS Energy		$	1,175

¹  At March 31, 2020, the interest rate on the balance of this term loan facility was 1.572 percent, based on an interest rate of six‑month LIBOR plus 0.500 percent.

² 

At March 31, 2020, the interest rate on the balance of this term loan facility was 1.466 percent, based on an interest rate of one‑month LIBOR plus 0.450 percent.

Revolving Credit Facilities

Revolving Credit Facilities: The following revolving credit facilities with banks were available at March 31, 2020:

In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
June 5, 2023¹		$	550		$	25		$	4		$	521
CMS Enterprises, including subsidiaries
September 30, 2025²		$	18		$	—		$	8		$	10
Consumers³
June 5, 2023		$	850		$	—		$	7		$	843
November 19, 2021		250			—			8			242
April 18, 2022		30			—			30			—

¹  The weighted-average interest rate for outstanding borrowings under CMS Energy’s revolving credit facility was 1.887 percent at March 31, 2020.

²  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.

³  Obligations under these facilities are secured by first mortgage bonds of Consumers.

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 20, 2018	March 31, 2021	777,899		$	50.91
February 21, 2019	March 31, 2021	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 issuances during the three months ended March 31, 2020:

	Principal (In Millions)			Interest Rate		Issuance Date	Maturity Date
CMS Energy, parent only
Term loan facility¹		$	300	variable		February	February 2021
Total CMS Energy, parent only		$	300
Consumers
Term loan facility²		$	300	variable		January	January 2021
First mortgage bonds		575		3.50	%	March	August 2051
Total Consumers		$	875
Total CMS Energy		$	1,175

¹  At March 31, 2020, the interest rate on the balance of this term loan facility was 1.572 percent, based on an interest rate of six‑month LIBOR plus 0.500 percent.

² 

At March 31, 2020, the interest rate on the balance of this term loan facility was 1.466 percent, based on an interest rate of one‑month LIBOR plus 0.450 percent.

Revolving Credit Facilities

Revolving Credit Facilities: The following revolving credit facilities with banks were available at March 31, 2020:

In Millions
Expiration Date	Amount of Facility			Amount Borrowed			Letters of Credit Outstanding			Amount Available
CMS Energy, parent only
June 5, 2023¹		$	550		$	25		$	4		$	521
CMS Enterprises, including subsidiaries
September 30, 2025²		$	18		$	—		$	8		$	10
Consumers³
June 5, 2023		$	850		$	—		$	7		$	843
November 19, 2021		250			—			8			242
April 18, 2022		30			—			30			—

¹  The weighted-average interest rate for outstanding borrowings under CMS Energy’s revolving credit facility was 1.887 percent at March 31, 2020.

²  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.

³  Obligations under these facilities are secured by first mortgage bonds of Consumers.