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Reportable Segments
 12 Months Ended
Dec. 31, 2023
Segment Reporting Information [Line Items]  
Reportable Segments Reportable Segments
Reportable segments consist of business units defined by the products and services they offer. CMS Energy and Consumers evaluate the performance of each segment based on its contribution to net income available to CMS Energy’s common stockholders.
Accounting policies for CMS Energy’s and Consumers’ segments are as described in Note 1, Significant Accounting Policies. The consolidated financial statements reflect the assets, liabilities, revenues, and expenses of the individual segments when appropriate. Accounts are allocated among the segments when common accounts are attributable to more than one segment. The allocations are based on certain measures of business activities, such as revenue, labor dollars, customers, other operating and maintenance expense, construction expense, leased property, taxes, or functional surveys. For example, customer receivables are allocated based on revenue, and pension provisions are allocated based on labor dollars.
Inter-segment sales and transfers are accounted for at current market prices and are eliminated in consolidated net income available to common stockholders by segment. Inter-segment sales and transfers were immaterial for all periods presented.
CMS Energy
The segments reported for CMS Energy are:
•electric utility, consisting of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan
•gas utility, consisting of regulated activities associated with the purchase, transmission, storage, distribution, and sale of natural gas in Michigan
•NorthStar Clean Energy, consisting of various subsidiaries engaging in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production
CMS Energy presents corporate interest and other expenses, discontinued operations, and Consumers’ other consolidated entities within other reconciling items.
Consumers
The segments reported for Consumers are:
•electric utility, consisting of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan
•gas utility, consisting of regulated activities associated with the purchase, transmission, storage, distribution, and sale of natural gas in Michigan
Consumers’ other consolidated entities are presented within other reconciling items.
Presented in the following tables is financial information by segment:
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Operating revenue
Electric utility$4,745 $5,419 $4,958 
Gas utility2,420 2,732 2,063 
NorthStar Clean Energy297 445 308 
Total operating revenue – CMS Energy$7,462 $8,596 $7,329 
Consumers
Operating revenue
Electric utility$4,745 $5,419 $4,958 
Gas utility2,420 2,732 2,063 
Other reconciling items1 — — 
Total operating revenue – Consumers$7,166 $8,151 $7,021 
CMS Energy, including Consumers
Depreciation and amortization
Electric utility$797 $757 $772 
Gas utility338 330 304 
NorthStar Clean Energy43 38 37 
Other reconciling items2 1 1 
Total depreciation and amortization – CMS Energy$1,180 $1,126 $1,114 
Consumers
Depreciation and amortization
Electric utility$797 $757 $772 
Gas utility338 330 304 
Other reconciling items2 1 1 
Total depreciation and amortization – Consumers$1,137 $1,088 $1,077 
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Income from equity method investees1
NorthStar Clean Energy$7 $3 $10 
Total income from equity method investees – CMS Energy$7 $3 $10 
CMS Energy, including Consumers
Interest charges
Electric utility$281 $218 $207 
Gas utility158 116 104 
NorthStar Clean Energy2 3 6 
Other reconciling items202 182 183 
Total interest charges – CMS Energy$643 $519 $500 
Consumers
Interest charges
Electric utility$285 $218 $207 
Gas utility161 116 104 
Other reconciling items2 1 — 
Total interest charges – Consumers$448 $335 $311 
CMS Energy, including Consumers
Income tax expense (benefit)
Electric utility$67 $109 $117 
Gas utility98 32 39 
NorthStar Clean Energy4 3 (2)
Other reconciling items(22)(51)(59)
Total income tax expense – CMS Energy$147 $93 $95 
Consumers
Income tax expense (benefit)
Electric utility$67 $109 $117 
Gas utility98 32 39 
Other reconciling items(4)(1)— 
Total income tax expense – Consumers$161 $140 $156 
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Net income (loss) available to common stockholders
Electric utility$550 $567 $565 
Gas utility315 378 302 
NorthStar Clean Energy67 34 23 
Other reconciling items(55)(152)458 
Total net income available to common stockholders – CMS Energy$877 $827 $1,348 
Consumers
Net income (loss) available to common stockholder
Electric utility$550 $567 $565 
Gas utility315 378 302 
Other reconciling items— (2)(1)
Total net income available to common stockholder – Consumers$865 $943 $866 
CMS Energy, including Consumers
Plant, property, and equipment, gross
Electric utility2
$19,302 $17,870 $18,147 
Gas utility2
12,383 11,443 10,601 
NorthStar Clean Energy1,420 1,148 1,122 
Other reconciling items30 30 23 
Total plant, property, and equipment, gross – CMS Energy$33,135 $30,491 $29,893 
Consumers
Plant, property, and equipment, gross
Electric utility2
$19,302 $17,870 $18,147 
Gas utility2
12,383 11,443 10,601 
Other reconciling items38 29 23 
Total plant, property, and equipment, gross – Consumers$31,723 $29,342 $28,771 
CMS Energy, including Consumers
Investments in equity method investees1
NorthStar Clean Energy$76 $71 $71 
Total investments in equity method investees – CMS Energy$76 $71 $71 
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Total assets
Electric utility2
$19,358 $17,907 $16,493 
Gas utility2
12,353 11,873 10,517 
NorthStar Clean Energy1,604 1,464 1,312 
Other reconciling items202 109 431 
Total assets – CMS Energy$33,517 $31,353 $28,753 
Consumers
Total assets
Electric utility2
$19,417 $17,968 $16,555 
Gas utility2
12,397 11,918 10,564 
Other reconciling items38 30 21 
Total assets – Consumers$31,852 $29,916 $27,140 
CMS Energy, including Consumers
Capital expenditures3
Electric utility4
$2,081 $1,265 $1,153 
Gas utility4
1,041 1,008 989 
NorthStar Clean Energy156 113 17 
Other reconciling items2 7 2 
Total capital expenditures – CMS Energy$3,280 $2,393 $2,161 
Consumers
Capital expenditures3
Electric utility4
$2,081 $1,265 $1,153 
Gas utility4
1,041 1,008 989 
Other reconciling items23 7 2 
Total capital expenditures – Consumers$3,145 $2,280 $2,144 
1Consumers had no equity method investments.
2Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses.
3Amounts include assets placed under finance lease.
4Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
Consumers Energy Company  
Segment Reporting Information [Line Items]  
Reportable Segments Reportable Segments
Reportable segments consist of business units defined by the products and services they offer. CMS Energy and Consumers evaluate the performance of each segment based on its contribution to net income available to CMS Energy’s common stockholders.
Accounting policies for CMS Energy’s and Consumers’ segments are as described in Note 1, Significant Accounting Policies. The consolidated financial statements reflect the assets, liabilities, revenues, and expenses of the individual segments when appropriate. Accounts are allocated among the segments when common accounts are attributable to more than one segment. The allocations are based on certain measures of business activities, such as revenue, labor dollars, customers, other operating and maintenance expense, construction expense, leased property, taxes, or functional surveys. For example, customer receivables are allocated based on revenue, and pension provisions are allocated based on labor dollars.
Inter-segment sales and transfers are accounted for at current market prices and are eliminated in consolidated net income available to common stockholders by segment. Inter-segment sales and transfers were immaterial for all periods presented.
CMS Energy
The segments reported for CMS Energy are:
•electric utility, consisting of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan
•gas utility, consisting of regulated activities associated with the purchase, transmission, storage, distribution, and sale of natural gas in Michigan
•NorthStar Clean Energy, consisting of various subsidiaries engaging in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production
CMS Energy presents corporate interest and other expenses, discontinued operations, and Consumers’ other consolidated entities within other reconciling items.
Consumers
The segments reported for Consumers are:
•electric utility, consisting of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan
•gas utility, consisting of regulated activities associated with the purchase, transmission, storage, distribution, and sale of natural gas in Michigan
Consumers’ other consolidated entities are presented within other reconciling items.
Presented in the following tables is financial information by segment:
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Operating revenue
Electric utility$4,745 $5,419 $4,958 
Gas utility2,420 2,732 2,063 
NorthStar Clean Energy297 445 308 
Total operating revenue – CMS Energy$7,462 $8,596 $7,329 
Consumers
Operating revenue
Electric utility$4,745 $5,419 $4,958 
Gas utility2,420 2,732 2,063 
Other reconciling items1 — — 
Total operating revenue – Consumers$7,166 $8,151 $7,021 
CMS Energy, including Consumers
Depreciation and amortization
Electric utility$797 $757 $772 
Gas utility338 330 304 
NorthStar Clean Energy43 38 37 
Other reconciling items2 1 1 
Total depreciation and amortization – CMS Energy$1,180 $1,126 $1,114 
Consumers
Depreciation and amortization
Electric utility$797 $757 $772 
Gas utility338 330 304 
Other reconciling items2 1 1 
Total depreciation and amortization – Consumers$1,137 $1,088 $1,077 
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Income from equity method investees1
NorthStar Clean Energy$7 $3 $10 
Total income from equity method investees – CMS Energy$7 $3 $10 
CMS Energy, including Consumers
Interest charges
Electric utility$281 $218 $207 
Gas utility158 116 104 
NorthStar Clean Energy2 3 6 
Other reconciling items202 182 183 
Total interest charges – CMS Energy$643 $519 $500 
Consumers
Interest charges
Electric utility$285 $218 $207 
Gas utility161 116 104 
Other reconciling items2 1 — 
Total interest charges – Consumers$448 $335 $311 
CMS Energy, including Consumers
Income tax expense (benefit)
Electric utility$67 $109 $117 
Gas utility98 32 39 
NorthStar Clean Energy4 3 (2)
Other reconciling items(22)(51)(59)
Total income tax expense – CMS Energy$147 $93 $95 
Consumers
Income tax expense (benefit)
Electric utility$67 $109 $117 
Gas utility98 32 39 
Other reconciling items(4)(1)— 
Total income tax expense – Consumers$161 $140 $156 
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Net income (loss) available to common stockholders
Electric utility$550 $567 $565 
Gas utility315 378 302 
NorthStar Clean Energy67 34 23 
Other reconciling items(55)(152)458 
Total net income available to common stockholders – CMS Energy$877 $827 $1,348 
Consumers
Net income (loss) available to common stockholder
Electric utility$550 $567 $565 
Gas utility315 378 302 
Other reconciling items— (2)(1)
Total net income available to common stockholder – Consumers$865 $943 $866 
CMS Energy, including Consumers
Plant, property, and equipment, gross
Electric utility2
$19,302 $17,870 $18,147 
Gas utility2
12,383 11,443 10,601 
NorthStar Clean Energy1,420 1,148 1,122 
Other reconciling items30 30 23 
Total plant, property, and equipment, gross – CMS Energy$33,135 $30,491 $29,893 
Consumers
Plant, property, and equipment, gross
Electric utility2
$19,302 $17,870 $18,147 
Gas utility2
12,383 11,443 10,601 
Other reconciling items38 29 23 
Total plant, property, and equipment, gross – Consumers$31,723 $29,342 $28,771 
CMS Energy, including Consumers
Investments in equity method investees1
NorthStar Clean Energy$76 $71 $71 
Total investments in equity method investees – CMS Energy$76 $71 $71 
In Millions
Years Ended December 31202320222021
CMS Energy, including Consumers
Total assets
Electric utility2
$19,358 $17,907 $16,493 
Gas utility2
12,353 11,873 10,517 
NorthStar Clean Energy1,604 1,464 1,312 
Other reconciling items202 109 431 
Total assets – CMS Energy$33,517 $31,353 $28,753 
Consumers
Total assets
Electric utility2
$19,417 $17,968 $16,555 
Gas utility2
12,397 11,918 10,564 
Other reconciling items38 30 21 
Total assets – Consumers$31,852 $29,916 $27,140 
CMS Energy, including Consumers
Capital expenditures3
Electric utility4
$2,081 $1,265 $1,153 
Gas utility4
1,041 1,008 989 
NorthStar Clean Energy156 113 17 
Other reconciling items2 7 2 
Total capital expenditures – CMS Energy$3,280 $2,393 $2,161 
Consumers
Capital expenditures3
Electric utility4
$2,081 $1,265 $1,153 
Gas utility4
1,041 1,008 989 
Other reconciling items23 7 2 
Total capital expenditures – Consumers$3,145 $2,280 $2,144 
1Consumers had no equity method investments.
2Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses.
3Amounts include assets placed under finance lease.
4Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.