Consumers Energy Company Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 802	$ 227
Restricted cash and cash equivalents	59	21
Inventories at average cost
Gas in underground storage	326	587
Materials and supplies	273	267
Generating plant fuel stock	78	84
Deferred property taxes	344	426
Regulatory assets	201	203
Prepayments and other current assets	110	80
Total current assets	3,091	2,839
Other Non‑current Assets
Regulatory assets	3,608	3,683
Accounts and notes receivable – related parties	22	22
Postretirement benefits	1,509	1,468
Other	318	357
Total other non‑current assets	5,530	5,606
Total Assets	33,901	33,517
Current Liabilities
Current portion of long-term debt and finance leases	772	980
Notes payable	0	93
Accrued rate refunds	28	54
Accrued interest	169	142
Accrued taxes	455	612
Regulatory liabilities	72	56
Other current liabilities	148	149
Total current liabilities	2,295	2,895
Non‑current Liabilities
Long-term debt	14,973	14,508
Non-current portion of finance leases	61	62
Regulatory liabilities	3,968	3,894
Postretirement benefits	104	106
Asset retirement obligations	777	771
Deferred investment tax credit	125	126
Deferred income taxes	2,679	2,615
Other non‑current liabilities	413	415
Total non‑current liabilities	23,100	22,497
Commitments and Contingencies
Common stockholders’ equity
Common stock	3	3
Other paid-in capital	5,975	5,705
Accumulated other comprehensive loss	(45)	(46)
Retained earnings	1,789	1,658
Total common stockholders’ equity	7,722	7,320
Cumulative preferred stock	224	224
Total stockholders’ equity	7,946	7,544
Total Liabilities and Equity	33,901	33,517
Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $23 in 2024 and $21 in 2023	889	933
Current Liabilities
Accounts payable	644	802
Related Party
Current Liabilities
Accounts payable	7	7
Consumers Energy Company
Current Assets
Cash and cash equivalents	607	35
Restricted cash and cash equivalents	59	21
Inventories at average cost
Gas in underground storage	326	587
Materials and supplies	263	257
Generating plant fuel stock	75	80
Deferred property taxes	344	426
Regulatory assets	201	203
Prepayments and other current assets	94	65
Total current assets	2,842	2,594
Plant, Property, and Equipment
Plant, property, and equipment, gross	31,820	31,723
Less accumulated depreciation and amortization	8,784	8,796
Plant, property, and equipment, net	23,036	22,927
Construction work in progress	942	845
Total plant, property, and equipment	23,978	23,772
Other Non‑current Assets
Regulatory assets	3,608	3,683
Postretirement benefits	1,405	1,367
Other	253	313
Total other non‑current assets	5,389	5,486
Total Assets	32,209	31,852
Current Liabilities
Current portion of long-term debt and finance leases	772	731
Accrued rate refunds	28	54
Accrued interest	125	110
Accrued taxes	462	614
Regulatory liabilities	72	56
Other current liabilities	127	128
Total current liabilities	2,214	2,563
Non‑current Liabilities
Non-current portion of finance leases	38	39
Regulatory liabilities	3,968	3,894
Postretirement benefits	76	77
Asset retirement obligations	744	739
Deferred investment tax credit	125	126
Deferred income taxes	2,854	2,789
Other non‑current liabilities	364	364
Total non‑current liabilities	19,185	18,489
Commitments and Contingencies
Common stockholders’ equity
Common stock	841	841
Other paid-in capital	7,759	7,759
Accumulated other comprehensive loss	(15)	(15)
Retained earnings	2,188	2,178
Total common stockholders’ equity	10,773	10,763
Cumulative preferred stock	37	37
Total stockholders’ equity	10,810	10,800
Total Liabilities and Equity	32,209	31,852
Consumers Energy Company | Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $23 in 2024 and $21 in 2023	863	909
Other Non‑current Assets
Accounts receivable	28	28
Current Liabilities
Notes payable	0	93
Accounts payable	613	764
Non‑current Liabilities
Long-term debt	10,501	10,037
Consumers Energy Company | Related Party
Current Assets
Accounts and notes receivable – related parties	10	11
Other Non‑current Assets
Accounts and notes receivable – related parties	95	95
Current Liabilities
Accounts payable	15	13
Non‑current Liabilities
Long-term debt	$ 515	$ 424