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