Retirement Benefits

3 Months Ended

Mar. 31, 2023

Defined Benefit Plan Disclosure [Line Items]

Retirement Benefits

Retirement BenefitsCMS Energy and Consumers provide pension, OPEB, and other retirement benefits to employees under a number of different plans.

Costs: Presented in the following table are the costs (credits) and other changes in plan assets and benefit obligations incurred in CMS Energy’s and Consumers’ retirement benefit plans:

In Millions
	DB Pension Plans						OPEB Plan
Three Months Ended March 31	2023			2022			2023			2022
CMS Energy, including Consumers
Net periodic credit
Service cost		$	7		$	12		$	3		$	4
Interest cost		27			18			11			7
Expected return on plan assets		(55)			(52)			(26)			(29)
Amortization of:
Net loss		3			17			3			—
Prior service cost (credit)		1			1			(10)			(12)
Settlement loss		2			2			—			—
Net periodic credit		$	(15)		$	(2)		$	(19)		$	(30)
Consumers
Net periodic credit
Service cost		$	7		$	12		$	3		$	4
Interest cost		25			16			11			7
Expected return on plan assets		(52)			(49)			(24)			(27)
Amortization of:
Net loss		3			16			3			—
Prior service cost (credit)		1			1			(10)			(12)
Settlement loss		2			2			—			—
Net periodic credit		$	(14)		$	(2)		$	(17)		$	(28)

In Consumers’ 2022 electric rate case, the MPSC approved a mechanism allowing Consumers to defer the future recovery or refund of pension and OPEB expenses above or below the amounts used to set existing rates. At March 31, 2023. CMS Energy, including Consumers, had deferred $3 million of pension credits and $6 million of OPEB costs under this mechanism.

Consumers Energy Company

Defined Benefit Plan Disclosure [Line Items]

Retirement Benefits

Retirement BenefitsCMS Energy and Consumers provide pension, OPEB, and other retirement benefits to employees under a number of different plans.

Costs: Presented in the following table are the costs (credits) and other changes in plan assets and benefit obligations incurred in CMS Energy’s and Consumers’ retirement benefit plans:

In Millions
	DB Pension Plans						OPEB Plan
Three Months Ended March 31	2023			2022			2023			2022
CMS Energy, including Consumers
Net periodic credit
Service cost		$	7		$	12		$	3		$	4
Interest cost		27			18			11			7
Expected return on plan assets		(55)			(52)			(26)			(29)
Amortization of:
Net loss		3			17			3			—
Prior service cost (credit)		1			1			(10)			(12)
Settlement loss		2			2			—			—
Net periodic credit		$	(15)		$	(2)		$	(19)		$	(30)
Consumers
Net periodic credit
Service cost		$	7		$	12		$	3		$	4
Interest cost		25			16			11			7
Expected return on plan assets		(52)			(49)			(24)			(27)
Amortization of:
Net loss		3			16			3			—
Prior service cost (credit)		1			1			(10)			(12)
Settlement loss		2			2			—			—
Net periodic credit		$	(14)		$	(2)		$	(17)		$	(28)

In Consumers’ 2022 electric rate case, the MPSC approved a mechanism allowing Consumers to defer the future recovery or refund of pension and OPEB expenses above or below the amounts used to set existing rates. At March 31, 2023. CMS Energy, including Consumers, had deferred $3 million of pension credits and $6 million of OPEB costs under this mechanism.