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Consumers Energy Company Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Revenue $ 2,024 $ 1,725 $ 6,318 $ 5,296
Operating Expenses        
Operating Income 258 260 953 942
Other Income (Expense)        
Interest income 1 0 3 2
Allowance for equity funds used during construction 1 2 4 5
Non-operating retirement benefits, net 54 40 154 121
Other income 2 1 3 7
Other expense (5) (3) (20) (7)
Total other income 54 44 145 136
Interest Charges        
Interest on long-term debt 127 120 370 359
Interest expense – related parties 3 3 9 9
Other interest expense 0 3 2 8
Allowance for borrowed funds used during construction 0 (1) (1) (2)
Total interest charges 130 125 380 374
Income Before Income Taxes 182 179 718 704
Income Tax Expense 19 26 72 90
Net Income Attributable to CMS Energy 165 189 666 714
Preferred Stock Dividends 2 3 7 3
Net income (loss) available to common stockholders 163 186 659 711
Consumers Energy Company        
Operating Revenue 1,886 1,644 5,971 5,074
Operating Expenses        
Fuel for electric generation 233 147 530 340
Purchased and interchange power 556 450 1,461 1,200
Purchased power – related parties 21 21 56 56
Cost of gas sold 114 53 792 425
Maintenance and other operating expenses 393 390 1,076 1,021
Depreciation and amortization 233 241 802 804
General taxes 84 77 299 277
Total operating expenses 1,634 1,379 5,016 4,123
Operating Income 252 265 955 951
Other Income (Expense)        
Interest income 1 1 2 2
Interest and dividend income – related parties 1 1 4 4
Allowance for equity funds used during construction 1 2 4 5
Non-operating retirement benefits, net 52 37 146 113
Other income 1 1 2 7
Other expense (5) (3) (19) (7)
Total other income 51 39 139 124
Interest Charges        
Interest on long-term debt 81 74 231 220
Interest expense – related parties 3 3 9 9
Other interest expense 1 2 2 6
Allowance for borrowed funds used during construction 0 (1) (1) (2)
Total interest charges 85 78 241 233
Income Before Income Taxes 218 226 853 842
Income Tax Expense 29 40 108 130
Net Income Attributable to CMS Energy 189 186 745 712
Preferred Stock Dividends 0 0 1 1
Net income (loss) available to common stockholders $ 189 $ 186 $ 744 $ 711