Exit Activities and Discontinued Operations - (Tables)

9 Months Ended

Sep. 30, 2022

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Schedule of Retention Benefit Liability Roll Forward

Presented in the following table is a reconciliation of the retention benefit liability recorded in other liabilities on Consumers’ consolidated balance sheets:

In Millions
	Nine Months Ended
September 30	2022			2021
Retention benefit liability at beginning of period		$	14		$	11
Costs deferred as a regulatory asset1		14			5
Costs incurred and capitalized		—			1
Retention benefit liability at the end of the period2		$	28		$	17

1Includes $11 million for the three months ended September 30, 2022 and $2 million for the three months ended September 30, 2021.

2Includes current portion of other liabilities of $25 million at September 30, 2022 and $5 million at September 30, 2021.

Schedule of Income, Assets, and Liabilities from Discontinued Operations

The table below presents the financial results of EnerBank included in income from discontinued operations:

In Millions
	Three Months Ended						Nine Months Ended
September 30	2022			2021			2022			2021
Operating revenue		$	—		$	70		$	—		$	209
Expenses
Operating expenses		—			17			—			60
Interest expense		—			11			—			34
Income before income taxes		$	—		$	42		$	—		$	115
Gain on sale1		—			(3)			5			(8)
Income from discontinued operations before income taxes		$	—		$	39		$	5		$	107
Income tax expense		—			9			1			25
Income from discontinued operations, net of tax		$	—		$	30		$	4		$	82

1Amounts in 2021 represent transaction costs.

Consumers Energy Company

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Schedule of Retention Benefit Liability Roll Forward

Presented in the following table is a reconciliation of the retention benefit liability recorded in other liabilities on Consumers’ consolidated balance sheets:

In Millions
	Nine Months Ended
September 30	2022			2021
Retention benefit liability at beginning of period		$	14		$	11
Costs deferred as a regulatory asset1		14			5
Costs incurred and capitalized		—			1
Retention benefit liability at the end of the period2		$	28		$	17

1Includes $11 million for the three months ended September 30, 2022 and $2 million for the three months ended September 30, 2021.

2Includes current portion of other liabilities of $25 million at September 30, 2022 and $5 million at September 30, 2021.