Consumers Energy Company Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities
Net Income	$ 578	$ 666
Adjustments to reconcile net income to net cash provided by operating activities
Deferred income taxes and investment tax credits	96	58
Other non‑cash operating activities and reconciling adjustments	(171)	(65)
Changes in assets and liabilities
Accounts receivable and accrued revenue	497	(257)
Inventories	63	(637)
Accounts payable and accrued rate refunds	(123)	25
Other current assets and liabilities	(56)	18
Other non‑current assets and liabilities	171	45
Net cash provided by operating activities	1,904	667
Cash Flows from Investing Activities
Cost to retire property and other investing activities	(126)	(70)
Net cash used in investing activities	(2,737)	(1,808)
Cash Flows from Financing Activities
Proceeds from issuance of debt	2,905	1,349
Retirement of debt	(1,846)	(92)
Increase in notes payable	227	0
Payment of dividends on common and preferred stock	(435)	(410)
Other financing costs	(49)	(48)
Net cash provided by financing activities	835	860
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	2	(281)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	182	476
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	184	195
Non‑cash transactions
Capital expenditures not paid	268	227
Capital Expenditures
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,799)	(1,738)
Covert Plant Acquisition
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(812)	0
Consumers Energy Company
Cash Flows from Operating Activities
Net Income	577	745
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	839	802
Deferred income taxes and investment tax credits	107	79
Other non‑cash operating activities and reconciling adjustments	(48)	(57)
Changes in assets and liabilities
Accounts receivable and accrued revenue	474	(242)
Inventories	64	(636)
Accounts payable and accrued rate refunds	(114)	(2)
Other current assets and liabilities	(85)	38
Other non‑current assets and liabilities	152	34
Net cash provided by operating activities	1,966	761
Cash Flows from Investing Activities
Cost to retire property and other investing activities	(122)	(73)
Net cash used in investing activities	(2,592)	(1,715)
Cash Flows from Financing Activities
Proceeds from issuance of debt	2,020	1,349
Retirement of debt	(1,639)	(14)
Stockholder contribution	475	685
Payment of dividends on common and preferred stock	(462)	(594)
Other financing costs	(21)	(14)
Net cash provided by financing activities	600	1,020
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(26)	66
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	60	44
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	34	110
Non‑cash transactions
Capital expenditures not paid	264	216
Consumers Energy Company | Capital Expenditures
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,658)	(1,642)
Consumers Energy Company | Covert Plant Acquisition
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(812)	0
Consumers Energy Company | Nonrelated Party
Cash Flows from Financing Activities
Increase in notes payable	227	0
Consumers Energy Company | Related Party
Cash Flows from Financing Activities
Decrease in notes payable – related parties	$ 0	$ (392)