Consumers Energy Company Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 227	$ 164
Restricted cash and cash equivalents	21	18
Inventories at average cost
Gas in underground storage	587	840
Materials and supplies	267	212
Generating plant fuel stock	84	65
Deferred property taxes	426	384
Regulatory assets	203	57
Prepayments and other current assets	80	113
Total current assets	2,839	3,433
Other Non‑current Assets
Regulatory assets	3,683	3,595
Accounts receivable	22	23
Postretirement benefits	1,468	1,208
Other	357	310
Total other non‑current assets	5,606	5,207
Total Assets	33,517	31,353
Current Liabilities
Current portion of long-term debt and finance leases	980	1,099
Notes payable	93	20
Accrued rate refunds	54	0
Accrued interest	142	122
Accrued taxes	612	538
Regulatory liabilities	56	104
Other current liabilities	149	166
Total current liabilities	2,895	2,985
Non‑current Liabilities
Long-term debt	14,508	13,122
Non-current portion of finance leases	62	68
Regulatory liabilities	3,894	3,796
Postretirement benefits	106	108
Asset retirement obligations	771	746
Deferred investment tax credit	126	129
Deferred income taxes	2,615	2,407
Other non‑current liabilities	415	397
Total non‑current liabilities	22,497	20,773
Commitments and Contingencies
Common stockholders’ equity
Common stock	3	3
Other paid-in capital	5,705	5,490
Accumulated other comprehensive loss	(46)	(52)
Retained earnings	1,658	1,350
Total common stockholders’ equity	7,320	6,791
Cumulative preferred stock	224	224
Total stockholders’ equity	7,544	7,015
Total Liabilities and Equity	33,517	31,353
Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $21 in 2023 and $27 in 2022	933	1,564
Current Liabilities
Accounts payable	802	928
Related Party
Current Liabilities
Accounts payable	7	8
Consumers Energy Company
Current Assets
Cash and cash equivalents	35	43
Restricted cash and cash equivalents	21	17
Inventories at average cost
Gas in underground storage	587	840
Materials and supplies	257	206
Generating plant fuel stock	80	59
Deferred property taxes	426	384
Regulatory assets	203	57
Prepayments and other current assets	65	96
Total current assets	2,594	3,236
Plant, Property, and Equipment
Plant, property, and equipment, gross	31,723	29,342
Less accumulated depreciation and amortization	8,796	8,791
Plant, property, and equipment, net	22,927	20,551
Construction work in progress	845	994
Total plant, property, and equipment	23,772	21,545
Other Non‑current Assets
Regulatory assets	3,683	3,595
Postretirement benefits	1,367	1,126
Other	313	286
Total other non‑current assets	5,486	5,135
Total Assets	31,852	29,916
Current Liabilities
Current portion of long-term debt and finance leases	731	1,000
Accrued rate refunds	54	0
Accrued interest	110	90
Accrued taxes	614	556
Regulatory liabilities	56	104
Other current liabilities	128	147
Total current liabilities	2,563	2,871
Non‑current Liabilities
Long-term debt	10,037	9,192
Non-current portion of finance leases	39	45
Regulatory liabilities	3,894	3,796
Postretirement benefits	77	79
Asset retirement obligations	739	722
Deferred investment tax credit	126	129
Deferred income taxes	2,789	2,585
Other non‑current liabilities	364	342
Total non‑current liabilities	18,489	16,890
Commitments and Contingencies
Common stockholders’ equity
Common stock	841	841
Other paid-in capital	7,759	7,284
Accumulated other comprehensive loss	(15)	(15)
Retained earnings	2,178	2,008
Total common stockholders’ equity	10,763	10,118
Cumulative preferred stock	37	37
Total stockholders’ equity	10,800	10,155
Total Liabilities and Equity	31,852	29,916
Consumers Energy Company | Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $21 in 2023 and $27 in 2022	909	1,524
Other Non‑current Assets
Accounts receivable	28	29
Current Liabilities
Notes payable	93	20
Accounts payable	764	864
Non‑current Liabilities
Long-term debt	10,037	9,192
Consumers Energy Company | Related Party
Current Assets
Accounts and notes receivable – related parties	11	10
Other Non‑current Assets
Accounts receivable	95	99
Current Liabilities
Notes payable	0	75
Accounts payable	13	15
Non‑current Liabilities
Long-term debt	$ 424	$ 0