Financial Instruments

9 Months Ended

Sep. 30, 2021

Financial Instruments [Line Items]

Financial Instruments

Financial Instruments

Presented in the following table are the carrying amounts and fair values, by level within the fair value hierarchy, of CMS Energy’s and Consumers’ financial instruments that are not recorded at fair value. The table excludes cash, cash equivalents, short-term financial instruments, and trade accounts receivable and payable whose carrying amounts approximate their fair values. For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 4, Fair Value Measurements.

In Millions
	September 30, 2021															December 31, 2020
	Carrying Amount			Fair Value												Carrying Amount			Fair Value
				Total			Level												Total			Level
							1			2			3									1			2			3
CMS Energy, including Consumers
Assets
Long-term receivables1		$	14		$	14		$	—		$	—		$	14		$	17		$	17		$	—		$	—		$	17
Liabilities
Long-term debt2		12,599			13,886			1,195			10,727			1,964			12,315			14,601			1,249			11,267			2,085
Long-term payables3		31			32			—			—			32			33			35			—			—			35
Consumers
Assets
Long-term receivables1		$	14		$	14		$	—		$	—		$	14		$	17		$	17		$	—		$	—		$	17
Notes receivable – related party4		104			104			—			—			104			107			107			—			—			107
Liabilities
Long-term debt5		8,392			9,411			—			7,447			1,964			8,106			9,801			—			7,716			2,085

1Includes current portion of long-term accounts receivable of $9 million at September 30, 2021 and $12 million at December 31, 2020.

2Includes current portion of long-term debt of $572 million at September 30, 2021 and $571 million at December 31, 2020.

3Includes current portion of long-term payables of $22 million at September 30, 2021 and $6 million at December 31, 2020.

4Includes current portion of notes receivable – related party of $7 million at September 30, 2021 and December 31, 2020.

5Includes current portion of long-term debt of $364 million at September 30, 2021 and December 31, 2020.

Consumers Energy Company

Financial Instruments [Line Items]

Financial Instruments

Financial Instruments

Presented in the following table are the carrying amounts and fair values, by level within the fair value hierarchy, of CMS Energy’s and Consumers’ financial instruments that are not recorded at fair value. The table excludes cash, cash equivalents, short-term financial instruments, and trade accounts receivable and payable whose carrying amounts approximate their fair values. For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 4, Fair Value Measurements.

In Millions
	September 30, 2021															December 31, 2020
	Carrying Amount			Fair Value												Carrying Amount			Fair Value
				Total			Level												Total			Level
							1			2			3									1			2			3
CMS Energy, including Consumers
Assets
Long-term receivables1		$	14		$	14		$	—		$	—		$	14		$	17		$	17		$	—		$	—		$	17
Liabilities
Long-term debt2		12,599			13,886			1,195			10,727			1,964			12,315			14,601			1,249			11,267			2,085
Long-term payables3		31			32			—			—			32			33			35			—			—			35
Consumers
Assets
Long-term receivables1		$	14		$	14		$	—		$	—		$	14		$	17		$	17		$	—		$	—		$	17
Notes receivable – related party4		104			104			—			—			104			107			107			—			—			107
Liabilities
Long-term debt5		8,392			9,411			—			7,447			1,964			8,106			9,801			—			7,716			2,085

1Includes current portion of long-term accounts receivable of $9 million at September 30, 2021 and $12 million at December 31, 2020.

2Includes current portion of long-term debt of $572 million at September 30, 2021 and $571 million at December 31, 2020.

3Includes current portion of long-term payables of $22 million at September 30, 2021 and $6 million at December 31, 2020.

4Includes current portion of notes receivable – related party of $7 million at September 30, 2021 and December 31, 2020.

5Includes current portion of long-term debt of $364 million at September 30, 2021 and December 31, 2020.