Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:

In Millions
	CMS Energy, including Consumers						Consumers
	March 31 2024			December 31 2023			March 31 2024			December 31 2023
Assets1
Cash equivalents		$	264		$	18		$	198		$	—
Restricted cash equivalents		59			21			59			21
Nonqualified deferred compensation plan assets		31			30			23			22
Derivative instruments		1			2			1			2
Total assets		$	355		$	71		$	281		$	45
Liabilities1
Nonqualified deferred compensation plan liabilities		$	31		$	30		$	23		$	22
Total liabilities		$	31		$	30		$	23		$	22

1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 3.

Consumers Energy Company

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:

In Millions
	CMS Energy, including Consumers						Consumers
	March 31 2024			December 31 2023			March 31 2024			December 31 2023
Assets1
Cash equivalents		$	264		$	18		$	198		$	—
Restricted cash equivalents		59			21			59			21
Nonqualified deferred compensation plan assets		31			30			23			22
Derivative instruments		1			2			1			2
Total assets		$	355		$	71		$	281		$	45
Liabilities1
Nonqualified deferred compensation plan liabilities		$	31		$	30		$	23		$	22
Total liabilities		$	31		$	30		$	23		$	22

1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 3.