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Consolidated Statements Of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Revenue $ 6,680 $ 6,845 $ 6,873
Operating Expenses      
Fuel for electric generation 375 493 528
Purchased power – related parties 64 75 81
Maintenance and other operating expenses 1,403 1,448 1,417
Depreciation and amortization 1,048 992 933
General taxes 359 333 303
Total operating expenses 5,318 5,606 5,711
Operating Income 1,362 1,239 1,162
Other Income (Expense)      
Interest income 4 7 11
Interest and dividend income – related parties 7 0 0
Allowance for equity funds used during construction 6 10 6
Income from equity method investees 5 10 9
Nonoperating retirement benefits, net 118 91 90
Other income 6 4 2
Other expense (62) (13) (48)
Total other income 84 109 70
Interest Charges      
Interest on long-term debt 483 439 412
Interest expense – related parties 12 9 0
Other interest expense 68 75 49
Allowance for borrowed funds used during construction (2) (4) (3)
Total interest charges 561 519 458
Income Before Income Taxes 885 829 774
Income Tax Expense 133 147 115
Net Income 752 682 659
Income (Loss) Attributable to Noncontrolling Interests (3) 2 2
Net Income Available to Common Stockholders $ 755 $ 680 $ 657
Basic earnings per average common share (in dollars per share) $ 2.65 $ 2.40 $ 2.33
Diluted earnings per average common share (in dollars per share) $ 2.64 $ 2.39 $ 2.32
Consumers Energy Company      
Operating Revenue $ 6,189 $ 6,376 $ 6,464
Operating Expenses      
Fuel for electric generation 286 375 407
Purchased and interchange power 1,454 1,470 1,587
Purchased power – related parties 64 75 83
Cost of gas sold 568 754 819
Maintenance and other operating expenses 1,224 1,275 1,287
Depreciation and amortization 1,023 975 921
General taxes 349 322 295
Total operating expenses 4,968 5,246 5,399
Operating Income 1,221 1,130 1,065
Other Income (Expense)      
Interest income 3 5 8
Interest and dividend income – related parties 5 5 2
Allowance for equity funds used during construction 6 10 6
Nonoperating retirement benefits, net 112 85 83
Other income 5 3 2
Other expense (43) (13) (30)
Total other income 88 95 71
Interest Charges      
Interest on long-term debt 299 277 276
Interest expense – related parties 12 9 0
Other interest expense 11 15 16
Allowance for borrowed funds used during construction (2) (4) (3)
Total interest charges 320 297 289
Income Before Income Taxes 989 928 847
Income Tax Expense 173 185 142
Net Income 816 743 705
Preferred Stock Dividends 2 2 2
Net Income Available to Common Stockholders 814 741 703
Purchased and interchange power      
Operating Expenses      
Cost of goods and services sold 1,492 1,496 1,613
Cost of gas sold      
Operating Expenses      
Cost of goods and services sold $ 577 $ 769 $ 836