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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 496 $ 168
Restricted cash and cash equivalents 28 17
Accounts receivable and accrued revenue 839 863
Notes receivable, less allowance of $29 in 2021 and $32 in 2020 284 275
Accounts receivable – related parties 17 19
Inventories at average cost    
Gas in underground storage 195 353
Materials and supplies 162 155
Generating plant fuel stock 50 68
Deferred property taxes 267 332
Regulatory assets 30 42
Prepayments and other current assets 145 112
Total current assets 2,513 2,404
Plant, Property, and Equipment    
Plant, property, and equipment, gross 28,457 27,907
Less accumulated depreciation and amortization 8,178 7,953
Plant, property, and equipment, net 20,279 19,954
Construction work in progress 928 1,085
Total plant, property, and equipment 21,207 21,039
Other Non‑current Assets    
Regulatory assets 2,613 2,653
Accounts and notes receivable, less allowance of $89 in 2021 and $91 in 2020 2,445 2,631
Investments 72 70
Other 873 869
Total other non‑current assets 6,003 6,223
Total Assets 29,723 29,666
Current Liabilities    
Current portion of long-term debt, finance leases, and other financing 1,506 1,506
Accounts payable 538 671
Accounts payable – related parties 7 7
Accrued rate refunds 2 20
Accrued interest 113 106
Accrued taxes 360 457
Regulatory liabilities 204 151
Other current liabilities 155 156
Total current liabilities 2,885 3,074
Non‑current Liabilities    
Long-term debt 13,561 13,634
Non-current portion of finance leases and other financing 51 56
Regulatory liabilities 3,772 3,744
Postretirement benefits 151 152
Asset retirement obligations 564 553
Deferred investment tax credit 114 115
Deferred income taxes 1,926 1,863
Other non‑current liabilities 397 398
Total non‑current liabilities 20,536 20,515
Commitments and Contingencies
Common stockholders’ equity    
Common stock 3 3
Other paid-in capital 5,371 5,365
Accumulated other comprehensive loss (84) (86)
Retained earnings 437 214
Total common stockholders’ equity 5,727 5,496
Noncontrolling interests 575 581
Total equity 6,302 6,077
Total Liabilities and Equity 29,723 29,666
Consumers Energy Company    
Current Assets    
Cash and cash equivalents 9 20
Restricted cash and cash equivalents 25 15
Accounts receivable and accrued revenue 801 828
Accounts receivable – related parties 9 18
Inventories at average cost    
Gas in underground storage 195 353
Materials and supplies 156 149
Generating plant fuel stock 49 67
Deferred property taxes 267 332
Regulatory assets 30 42
Prepayments and other current assets 119 68
Total current assets 1,660 1,892
Plant, Property, and Equipment    
Plant, property, and equipment, gross 27,299 26,757
Less accumulated depreciation and amortization 8,058 7,844
Plant, property, and equipment, net 19,241 18,913
Construction work in progress 887 1,058
Total plant, property, and equipment 20,128 19,971
Other Non‑current Assets    
Regulatory assets 2,613 2,653
Accounts and notes receivable, less allowance of $89 in 2021 and $91 in 2020 25 25
Accounts and notes receivable – related parties 104 105
Other 750 753
Total other non‑current assets 3,492 3,536
Total Assets 25,280 25,399
Current Liabilities    
Current portion of long-term debt, finance leases, and other financing 384 384
Notes payable – related parties 57 307
Accounts payable 501 636
Accounts payable – related parties 12 7
Accrued rate refunds 2 20
Accrued interest 79 72
Accrued taxes 364 458
Regulatory liabilities 204 151
Other current liabilities 106 104
Total current liabilities 1,709 2,139
Non‑current Liabilities    
Long-term debt 7,743 7,742
Non-current portion of finance leases and other financing 51 56
Regulatory liabilities 3,772 3,744
Postretirement benefits 111 112
Asset retirement obligations 541 530
Deferred investment tax credit 114 115
Deferred income taxes 2,159 2,094
Other non‑current liabilities 314 311
Total non‑current liabilities 14,805 14,704
Commitments and Contingencies
Common stockholders’ equity    
Common stock 841 841
Other paid-in capital 6,174 6,024
Accumulated other comprehensive loss (36) (36)
Retained earnings 1,750 1,690
Total common stockholders’ equity 8,729 8,519
Cumulative preferred stock, $4.50 series 37 37
Total equity 8,766 8,556
Total Liabilities and Equity $ 25,280 $ 25,399