XML 35 R23.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2011

Dec. 31, 2010

Assets and Liabilities Measured at Fair Value on a Recurring Basis


In Millions
	Total		Level 1		Level 2		Level 3

CMS Energy, including Consumers
Assets
Cash equivalents	$	875	$	875	$	—	$	—
Restricted cash equivalents		15		15		—		—
Nonqualified deferred compensation plan assets		4		4		—		—
SERP
Mutual fund		90		90		—		—
State and municipal bonds		26		—		26		—
Derivative instruments
Commodity contracts¹		3		—		—		3

Total²	$	1,013	$	984	$	26	$	3

Liabilities
Nonqualified deferred compensation plan liabilities	$	4	$	4	$	—	$	—
Derivative instruments
Commodity contracts³		3		—		—		3

Total⁴	$	7	$	4	$	—	$	3

Consumers
Assets
Cash equivalents	$	667	$	667	$	—	$	—
Restricted cash equivalents		14		14		—		—
CMS Energy common stock		31		31		—		—
Nonqualified deferred compensation plan assets		3		3		—		—
SERP
Mutual fund		59		59		—		—
State and municipal bonds		17		—		17		—
Derivative instruments
Commodity contracts		3		—		—		3

Total⁵	$	794	$	774	$	17	$	3

Liabilities
Nonqualified deferred compensation plan liabilities	$	3	$	3	$	—	$	—

Total	$	3	$	3	$	—	$	—


¹		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements, which was less than $1 million at June 30, 2011.


²		At June 30, 2011, CMS Energy's assets classified as Level 3 represented less than one percent of CMS Energy's total assets measured at fair value.

³		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements and offsetting cash margin deposits paid by CMS ERM to other parties, which was less than $1 million at June 30, 2011.

⁴		At June 30, 2011, CMS Energy's liabilities classified as Level 3 represented 43 percent of CMS Energy's total liabilities measured at fair value. The Level 3 liabilities consisted primarily of an electricity sales agreement held by CMS ERM.

⁵		At June 30, 2011, Consumers' assets classified as Level 3 represented less than one percent of Consumers' total assets measured at fair value.


In Millions
	Total		Level 1		Level 2		Level 3

CMS Energy, including Consumers
Assets
Cash equivalents	$	183	$	183	$	—	$	—
Restricted cash equivalents		6		6		—		—
Nonqualified deferred compensation plan assets		6		6		—		—
SERP
Cash equivalents		1		1		—		—
Mutual fund		62		62		—		—
State and municipal bonds		28		—		28		—
Derivative instruments
Commodity contracts¹		1		—		—		1

Total²	$	287	$	258	$	28	$	1

Liabilities
Nonqualified deferred compensation plan liabilities	$	6	$	6	$	—	$	—
Derivative instruments
Commodity contracts³		4		—		—		4

Total⁴	$	10	$	6	$	—	$	4

Consumers
Assets
Cash equivalents	$	19	$	19	$	—	$	—
Restricted cash equivalents		6		6		—		—
CMS Energy common stock		34		34		—		—
Nonqualified deferred compensation plan assets		4		4		—		—
SERP
Cash equivalents		1		1		—		—
Mutual fund		39		39		—		—
State and municipal bonds		17		—		17		—
Derivative instruments
Commodity contracts		1		—		—		1

Total⁵	$	121	$	103	$	17	$	1

Liabilities
Nonqualified deferred compensation plan liabilities	$	4	$	4	$	—	$	—

Total	$	4	$	4	$	—	$	—


¹		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements, which was less than $1 million at December 31, 2010.


²		At December 31, 2010, CMS Energy's assets classified as Level 3 represented less than one percent of CMS Energy's total assets measured at fair value.

³		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements and offsetting cash margin deposits paid by CMS ERM to other parties, which was less than $1 million at December 31, 2010.

⁴		At December 31, 2010, CMS Energy's liabilities classified as Level 3 represented 40 percent of CMS Energy's total liabilities measured at fair value. The Level 3 liabilities consisted primarily of an electricity sales agreement held by CMS ERM.

⁵		At December 31, 2010, Consumers' assets classified as Level 3 represented one percent of Consumers' total assets measured at fair value.

Assets and Liabilities Measured at Fair Value on a Recurring Basis using Significant Level 3 Inputs


In Millions

Three Months Ended June 30	2011			2010

Balance at April 1	$	(2	)	$	(3	)
Total losses included in earnings¹		(1	)		(2	)
Total gains offset through regulatory accounting		3			1
Settlements		—			(1	)

Balance at June 30	$	—		$	(5	)

Unrealized losses included in earnings for the three months ended June 30 relating to assets and liabilities still held at June 30¹	$	—		$	(2	)


In Millions
Six Months Ended June 30	2011			2010

Balance at January 1	$	(3	)	$	(8	)
Total gains included in earnings¹		—			2
Total gains offset through regulatory accounting		3			1
Settlements		—			—

Balance at June 30	$	—		$	(5	)

Unrealized gains included in earnings for the six months ended June 30 relating to assets and liabilities still held at June 30¹	$	1		$	2


¹		CMS Energy records realized and unrealized gains and losses for Level 3 recurring fair values in earnings as a component of operating revenue or maintenance and other operating expenses on its consolidated statements of income.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis


In Millions
	Level 1		Level 2		Level 3		Losses

CMS Energy, including Consumers
Assets held for sale	$	—	$	—	$	7	$	(4	)

Consumers Energy Company [Member]

Assets and Liabilities Measured at Fair Value on a Recurring Basis


In Millions
	Total		Level 1		Level 2		Level 3

CMS Energy, including Consumers
Assets
Cash equivalents	$	875	$	875	$	—	$	—
Restricted cash equivalents		15		15		—		—
Nonqualified deferred compensation plan assets		4		4		—		—
SERP
Mutual fund		90		90		—		—
State and municipal bonds		26		—		26		—
Derivative instruments
Commodity contracts¹		3		—		—		3

Total²	$	1,013	$	984	$	26	$	3

Liabilities
Nonqualified deferred compensation plan liabilities	$	4	$	4	$	—	$	—
Derivative instruments
Commodity contracts³		3		—		—		3

Total⁴	$	7	$	4	$	—	$	3

Consumers
Assets
Cash equivalents	$	667	$	667	$	—	$	—
Restricted cash equivalents		14		14		—		—
CMS Energy common stock		31		31		—		—
Nonqualified deferred compensation plan assets		3		3		—		—
SERP
Mutual fund		59		59		—		—
State and municipal bonds		17		—		17		—
Derivative instruments
Commodity contracts		3		—		—		3

Total⁵	$	794	$	774	$	17	$	3

Liabilities
Nonqualified deferred compensation plan liabilities	$	3	$	3	$	—	$	—

Total	$	3	$	3	$	—	$	—


¹		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements, which was less than $1 million at June 30, 2011.


²		At June 30, 2011, CMS Energy's assets classified as Level 3 represented less than one percent of CMS Energy's total assets measured at fair value.

³		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements and offsetting cash margin deposits paid by CMS ERM to other parties, which was less than $1 million at June 30, 2011.

⁴		At June 30, 2011, CMS Energy's liabilities classified as Level 3 represented 43 percent of CMS Energy's total liabilities measured at fair value. The Level 3 liabilities consisted primarily of an electricity sales agreement held by CMS ERM.

⁵		At June 30, 2011, Consumers' assets classified as Level 3 represented less than one percent of Consumers' total assets measured at fair value.


In Millions
	Total		Level 1		Level 2		Level 3

CMS Energy, including Consumers
Assets
Cash equivalents	$	183	$	183	$	—	$	—
Restricted cash equivalents		6		6		—		—
Nonqualified deferred compensation plan assets		6		6		—		—
SERP
Cash equivalents		1		1		—		—
Mutual fund		62		62		—		—
State and municipal bonds		28		—		28		—
Derivative instruments
Commodity contracts¹		1		—		—		1

Total²	$	287	$	258	$	28	$	1

Liabilities
Nonqualified deferred compensation plan liabilities	$	6	$	6	$	—	$	—
Derivative instruments
Commodity contracts³		4		—		—		4

Total⁴	$	10	$	6	$	—	$	4

Consumers
Assets
Cash equivalents	$	19	$	19	$	—	$	—
Restricted cash equivalents		6		6		—		—
CMS Energy common stock		34		34		—		—
Nonqualified deferred compensation plan assets		4		4		—		—
SERP
Cash equivalents		1		1		—		—
Mutual fund		39		39		—		—
State and municipal bonds		17		—		17		—
Derivative instruments
Commodity contracts		1		—		—		1

Total⁵	$	121	$	103	$	17	$	1

Liabilities
Nonqualified deferred compensation plan liabilities	$	4	$	4	$	—	$	—

Total	$	4	$	4	$	—	$	—


¹		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements, which was less than $1 million at December 31, 2010.


²		At December 31, 2010, CMS Energy's assets classified as Level 3 represented less than one percent of CMS Energy's total assets measured at fair value.

³		This amount is gross and excludes the impact of offsetting derivative assets and liabilities under master netting arrangements and offsetting cash margin deposits paid by CMS ERM to other parties, which was less than $1 million at December 31, 2010.

⁴		At December 31, 2010, CMS Energy's liabilities classified as Level 3 represented 40 percent of CMS Energy's total liabilities measured at fair value. The Level 3 liabilities consisted primarily of an electricity sales agreement held by CMS ERM.

⁵		At December 31, 2010, Consumers' assets classified as Level 3 represented one percent of Consumers' total assets measured at fair value.

Assets and Liabilities Measured at Fair Value on a Recurring Basis using Significant Level 3 Inputs


In Millions
Three Months Ended June 30	2011		2010

Balance at April 1	$	—	$	—
Total gains offset through regulatory accounting		3		1
Settlements		—		(1	)

Balance at June 30	$	3	$	—


In Millions
Six Months Ended June 30	2011			2010

Balance at January 1	$	1		$	—
Total gains offset through regulatory accounting		3			1
Settlements		(1	)		(1	)

Balance at June 30	$	3		$	—

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References+ Details