Consumers Energy Company Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities
Net Income	$ 487	$ 513
Adjustments to reconcile net income to net cash provided by operating activities
Deferred income taxes and investment tax credits	39	75
Other non‑cash operating activities and reconciling adjustments	(33)	(29)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(80)	101
Inventories	(179)	36
Accounts payable and accrued rate refunds	53	0
Other current assets and liabilities	117	78
Other non‑current assets and liabilities	73	34
Net cash provided by operating activities	1,059	1,367
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,088)	(878)
Cost to retire property and other investing activities	(56)	(63)
Net cash used in investing activities	(1,139)	(851)
Cash Flows from Financing Activities
Retirement of debt	(92)	(18)
Increase in notes payable	45	0
Payment of dividends on common and preferred stock	(273)	(253)
Other financing costs	(36)	(20)
Net cash used in financing activities	(300)	(409)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(380)	107
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	476	185
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	96	292
Non‑cash transactions
Capital expenditures not paid	162	138
Consumers Energy Company
Cash Flows from Operating Activities
Net Income	556	526
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	569	563
Deferred income taxes and investment tax credits	55	89
Other non‑cash operating activities and reconciling adjustments	(33)	(26)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(60)	104
Inventories	(178)	35
Accounts payable and accrued rate refunds	44	0
Other current assets and liabilities	146	76
Other non‑current assets and liabilities	60	33
Net cash provided by operating activities	1,159	1,400
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,040)	(873)
Cost to retire property and other investing activities	(54)	(57)
Net cash used in investing activities	(1,094)	(930)
Cash Flows from Financing Activities
Retirement of debt	(14)	(13)
Increase in notes payable	45	0
Decrease in notes payable – related parties	(360)	(307)
Stockholder contribution	685	275
Payment of dividends on common and preferred stock	(434)	(381)
Other financing costs	(5)	(11)
Net cash used in financing activities	(83)	(437)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(18)	33
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	44	35
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	26	68
Non‑cash transactions
Capital expenditures not paid	$ 155	$ 134