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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net Income $ 342 $ 243
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 340 316
Deferred income taxes and investment tax credits 48 67
Other non‑cash operating activities and reconciling adjustments (17) 9
Pension contributions 0 (531)
Changes in assets and liabilities    
Accounts and notes receivable and accrued revenue 30 (17)
Inventories 168 171
Accounts payable and accrued rate refunds (103) (54)
Other current and non‑current assets and liabilities 24 (3)
Net cash provided by operating activities 832 201
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (437) (523)
Increase in EnerBank notes receivable (76) (4)
Purchase of notes receivable by EnerBank (2) (8)
Proceeds from sale of EnerBank notes receivable 263 0
Cost to retire property and other investing activities (31) (24)
Net cash used in investing activities (283) (559)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 0 1,198
Retirement of debt (2) (2)
Decrease in EnerBank certificates of deposit (73) (7)
Decrease in notes payable 0 (90)
Issuance of common stock, net of issuance costs 9 101
Payment of dividends on common stock (126) (116)
Other financing costs (18) (22)
Net cash provided by (used in) financing activities (210) 1,062
Net Increase in Cash and Cash Equivalents, Including Restricted Amounts 339 704
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 185 157
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 524 861
Non‑cash transactions    
Capital expenditures not paid 87 95
Consumers Energy Company    
Cash Flows from Operating Activities    
Net Income 336 235
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 329 312
Deferred income taxes and investment tax credits 51 44
Other non‑cash operating activities and reconciling adjustments (10) 0
Pension contributions 0 (518)
Changes in assets and liabilities    
Accounts and notes receivable and accrued revenue 39 31
Inventories 168 170
Accounts payable and accrued rate refunds (99) (54)
Other current and non‑current assets and liabilities 27 18
Net cash provided by operating activities 841 238
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (433) (520)
Cost to retire property and other investing activities (25) (22)
Net cash used in investing activities (458) (542)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 0 873
Decrease in notes payable 0 (90)
Decrease in notes payable – related parties (250) 0
Stockholder contribution 150 350
Payment of dividends on common stock (276) (219)
Other financing costs (8) (10)
Net cash provided by (used in) financing activities (384) 904
Net Increase in Cash and Cash Equivalents, Including Restricted Amounts (1) 600
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 35 28
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 34 628
Non‑cash transactions    
Capital expenditures not paid $ 84 $ 85