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Consumers Energy Company Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating Revenue $ 1,920 $ 1,558 $ 4,294 $ 3,571
Operating Expenses        
Operating Income 239 252 695 682
Other Income (Expense)        
Interest income 1 1 2 2
Allowance for equity funds used during construction 1 2 3 3
Non-operating retirement benefits, net 52 40 100 81
Other income 0 5 1 6
Other expense (11) (2) (15) (4)
Total other income 43 48 91 92
Interest Charges        
Interest on long-term debt 122 120 243 239
Interest expense – related parties 3 3 6 6
Other interest expense 1 2 2 5
Allowance for borrowed funds used during construction 0 0 (1) (1)
Total interest charges 126 125 250 249
Income Before Income Taxes 156 175 536 525
Income Tax Expense 14 22 53 64
Net Income Attributable to CMS Energy 148 176 501 525
Preferred Stock Dividends 3 0 5 0
Net income (loss) available to common stockholders 145 176 496 525
Consumers Energy Company        
Operating Revenue 1,802 1,493 4,085 3,430
Operating Expenses        
Fuel for electric generation 173 87 297 193
Purchased and interchange power 468 383 905 750
Purchased power – related parties 18 17 35 35
Cost of gas sold 213 94 678 372
Maintenance and other operating expenses 370 339 683 631
Depreciation and amortization 233 234 569 563
General taxes 86 82 215 200
Total operating expenses 1,561 1,236 3,382 2,744
Operating Income 241 257 703 686
Other Income (Expense)        
Interest income 0 0 1 1
Interest and dividend income – related parties 2 2 3 3
Allowance for equity funds used during construction 1 2 3 3
Non-operating retirement benefits, net 49 38 94 76
Other income 1 5 1 6
Other expense (11) (2) (14) (4)
Total other income 42 45 88 85
Interest Charges        
Interest on long-term debt 75 73 150 146
Interest expense – related parties 3 3 6 6
Other interest expense 0 2 1 4
Allowance for borrowed funds used during construction 0 0 (1) (1)
Total interest charges 78 78 156 155
Income Before Income Taxes 205 224 635 616
Income Tax Expense 32 34 79 90
Net Income Attributable to CMS Energy 173 190 556 526
Preferred Stock Dividends 1 1 1 1
Net income (loss) available to common stockholders $ 172 $ 189 $ 555 $ 525