Consumers Energy Company Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities
Net Income	$ 345	$ 342
Adjustments to reconcile net income to net cash provided by operating activities
Deferred income taxes and investment tax credits	33	48
Other non‑cash operating activities and reconciling adjustments	(22)	(13)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(121)	29
Inventories	213	168
Accounts payable and accrued rate refunds	(129)	(109)
Other current assets and liabilities	7	(12)
Other non‑current assets and liabilities	41	41
Net cash provided by operating activities	707	832
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(520)	(436)
Cost to retire property and other investing activities	(24)	(25)
Net cash used in investing activities	(539)	(283)
Cash Flows from Financing Activities
Payment of dividends on common and preferred stock	(136)	(126)
Other financing costs	(35)	(18)
Net cash used in financing activities	(170)	(210)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(2)	339
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	476	185
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	474	524
Non‑cash transactions
Capital expenditures not paid	128	87
Consumers Energy Company
Cash Flows from Operating Activities
Net Income	383	336
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	336	329
Deferred income taxes and investment tax credits	47	51
Other non‑cash operating activities and reconciling adjustments	(21)	(10)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(118)	39
Inventories	210	168
Accounts payable and accrued rate refunds	(128)	(99)
Other current assets and liabilities	0	(12)
Other non‑current assets and liabilities	36	39
Net cash provided by operating activities	745	841
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(506)	(433)
Cost to retire property and other investing activities	(23)	(25)
Net cash used in investing activities	(529)	(458)
Cash Flows from Financing Activities
Decrease in notes payable – related parties	(392)	(250)
Stockholder contribution	450	150
Payment of dividends on common and preferred stock	(275)	(276)
Other financing costs	(5)	(8)
Net cash used in financing activities	(222)	(384)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(6)	(1)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	44	35
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	38	34
Non‑cash transactions
Capital expenditures not paid	$ 122	$ 84