Retirement Benefits

9 Months Ended

Sep. 30, 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						Nine Months Ended						Three Months Ended						Nine Months Ended
September 30	2023			2022			2023			2022			2023			2022			2023			2022
CMS Energy, including Consumers
Net periodic credit
Service cost		$	7		$	9		$	22		$	32		$	2		$	4		$	8		$	13
Interest cost		27			21			80			59			11			7			33			21
Expected return on plan assets		(55)			(51)			(165)			(155)			(26)			(29)			(77)			(87)
Amortization of:
Net loss		2			5			8			32			3			—			9			1
Prior service cost (credit)		1			1			3			3			(10)			(12)			(31)			(38)
Settlement loss		3			2			8			6			—			—			—			—
Net periodic credit		$	(15)		$	(13)		$	(44)		$	(23)		$	(20)		$	(30)		$	(58)		$	(90)
Consumers
Net periodic credit
Service cost		$	7		$	9		$	21		$	32		$	2		$	4		$	8		$	13
Interest cost		24			20			75			56			10			6			31			20
Expected return on plan assets		(52)			(48)			(156)			(147)			(23)			(26)			(71)			(80)
Amortization of:
Net loss		3			5			8			30			3			—			9			—
Prior service cost (credit)		1			1			3			3			(10)			(13)			(30)			(38)
Settlement loss		3			2			8			6			—			—			—			—
Net periodic credit		$	(14)		$	(11)		$	(41)		$	(20)		$	(18)		$	(29)		$	(53)		$	(85)

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, respectively, beginning in 2023. At September 30, 2023, CMS Energy, including Consumers, had deferred $9 million of pension credits and $17 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						Nine Months Ended						Three Months Ended						Nine Months Ended
September 30	2023			2022			2023			2022			2023			2022			2023			2022
CMS Energy, including Consumers
Net periodic credit
Service cost		$	7		$	9		$	22		$	32		$	2		$	4		$	8		$	13
Interest cost		27			21			80			59			11			7			33			21
Expected return on plan assets		(55)			(51)			(165)			(155)			(26)			(29)			(77)			(87)
Amortization of:
Net loss		2			5			8			32			3			—			9			1
Prior service cost (credit)		1			1			3			3			(10)			(12)			(31)			(38)
Settlement loss		3			2			8			6			—			—			—			—
Net periodic credit		$	(15)		$	(13)		$	(44)		$	(23)		$	(20)		$	(30)		$	(58)		$	(90)
Consumers
Net periodic credit
Service cost		$	7		$	9		$	21		$	32		$	2		$	4		$	8		$	13
Interest cost		24			20			75			56			10			6			31			20
Expected return on plan assets		(52)			(48)			(156)			(147)			(23)			(26)			(71)			(80)
Amortization of:
Net loss		3			5			8			30			3			—			9			—
Prior service cost (credit)		1			1			3			3			(10)			(13)			(30)			(38)
Settlement loss		3			2			8			6			—			—			—			—
Net periodic credit		$	(14)		$	(11)		$	(41)		$	(20)		$	(18)		$	(29)		$	(53)		$	(85)

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, respectively, beginning in 2023. At September 30, 2023, CMS Energy, including Consumers, had deferred $9 million of pension credits and $17 million of OPEB costs under this mechanism.