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Consumers Energy Company Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net Income $ 402 $ 501
Adjustments to reconcile net income to net cash provided by operating activities    
Deferred income taxes and investment tax credits 71 39
Other non‑cash operating activities and reconciling adjustments (122) (38)
Changes in assets and liabilities    
Accounts receivable and accrued revenue 474 (80)
Inventories 236 (179)
Accounts payable and accrued rate refunds (189) 53
Other current assets and liabilities 92 117
Other non‑current assets and liabilities 151 73
Net cash provided by operating activities 1,705 1,059
Cash Flows from Investing Activities    
Cost to retire property and other investing activities (82) (51)
Net cash used in investing activities (2,079) (1,139)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 2,405 0
Retirement of debt (1,465) (92)
Payment of dividends on common and preferred stock (290) (273)
Other financing costs (45) (38)
Net cash provided by (used in) financing activities 598 (300)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts 224 (380)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 182 476
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 406 96
Non‑cash transactions    
Capital expenditures not paid 241 162
Capital Expenditures    
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (1,187) (1,088)
Covert Plant Acquisition    
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (810) 0
Nonrelated Party    
Cash Flows from Financing Activities    
Increase (decrease) in notes payable (20)  
Increase (decrease) in notes payable   45
Consumers Energy Company    
Cash Flows from Operating Activities    
Net Income 399 556
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 589 569
Deferred income taxes and investment tax credits 73 55
Other non‑cash operating activities and reconciling adjustments (35) (33)
Changes in assets and liabilities    
Accounts receivable and accrued revenue 453 (60)
Inventories 236 (178)
Accounts payable and accrued rate refunds (170) 44
Other current assets and liabilities 75 146
Other non‑current assets and liabilities 139 60
Net cash provided by operating activities 1,759 1,159
Cash Flows from Investing Activities    
Cost to retire property and other investing activities (80) (54)
Net cash used in investing activities (1,971) (1,094)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 1,520 0
Retirement of debt (1,314) (14)
Stockholder contribution 475 685
Payment of dividends on common and preferred stock (306) (434)
Other financing costs (18) (5)
Net cash provided by (used in) financing activities 268 (83)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts 56 (18)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 60 44
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 116 26
Non‑cash transactions    
Capital expenditures not paid 228 155
Consumers Energy Company | Capital Expenditures    
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (1,081) (1,040)
Consumers Energy Company | Covert Plant Acquisition    
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (810) 0
Consumers Energy Company | Nonrelated Party    
Cash Flows from Financing Activities    
Increase (decrease) in notes payable (20)  
Increase (decrease) in notes payable   45
Consumers Energy Company | Related Party    
Cash Flows from Financing Activities    
Increase (decrease) in notes payable $ (69) $ (360)