Consumers Energy Company Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net Income	$ 666	$ 714
Adjustments to reconcile net income to net cash provided by operating activities
Deferred income taxes and investment tax credits	58	110
Other non‑cash operating activities and reconciling adjustments	(60)	(71)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(257)	129
Inventories	(637)	(185)
Accounts payable and accrued rate refunds	25	84
Other current assets and liabilities	18	(30)
Other non‑current assets and liabilities	45	29
Net cash provided by operating activities	667	1,483
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,738)	(1,442)
Cost to retire property and other investing activities	(75)	(88)
Net cash used in investing activities	(1,808)	(1,460)
Cash Flows from Financing Activities
Proceeds from issuance of debt	1,349	300
Retirement of debt	(92)	(18)
Payment of dividends on common and preferred stock	(410)	(380)
Other financing costs	(46)	(37)
Net cash provided by financing activities	860	28
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(281)	51
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	476	185
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	195	236
Non‑cash transactions
Capital expenditures not paid	227	172
Consumers Energy Company
Cash Flows from Operating Activities
Net Income	745	712
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	802	804
Deferred income taxes and investment tax credits	79	129
Other non‑cash operating activities and reconciling adjustments	(57)	(65)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(242)	137
Inventories	(636)	(186)
Accounts payable and accrued rate refunds	(2)	60
Other current assets and liabilities	38	(24)
Other non‑current assets and liabilities	34	16
Net cash provided by operating activities	761	1,583
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,642)	(1,433)
Cost to retire property and other investing activities	(73)	(86)
Net cash used in investing activities	(1,715)	(1,519)
Cash Flows from Financing Activities
Proceeds from issuance of debt	1,349	300
Retirement of debt	(14)	(13)
Decrease in notes payable – related parties	(392)	(307)
Stockholder contribution	685	575
Payment of dividends on common and preferred stock	(594)	(571)
Other financing costs	(14)	(28)
Net cash provided by financing activities	1,020	(44)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	66	20
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	44	35
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	110	55
Non‑cash transactions
Capital expenditures not paid	$ 216	$ 168