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Exhibit 12.1

CMS ENERGY CORPORATION
Ratio of Earnings to Fixed Charges and Combined Fixed Charges
and Preferred Dividends

In Millions, Except Ratios
Years Ended December 31	2012		2011		2010		2009	2008
Earnings as defined1
Pretax income from continuing operations	$       622		$       606		$       590		$    335	$    440
Exclude equity basis subsidiaries	(7	)	(1	)	(2	)	2	(1	)
Fixed charges as defined2	414		437		449		456	429
Earnings as defined2	$    1,029		$    1,042		$    1,037		$    793	$    868
Fixed charges as defined1
Interest on long-term debt	$       372		$       396		$       394		$    383	$    371
Estimated interest portion of lease rental	21		18		16		17	25
Other interest charges	23		25		42		58	35
Fixed charges as defined2	416		439		452		458	431
Preferred dividends	–		–		13		17	17
Combined fixed charges and preferred dividends	$       416		$       439		$       465		$    475	$    448
Ratio of earnings to fixed charges	2.47		2.37		2.29		1.73	2.01
Ratio of earnings to combined fixed charges and preferred dividends	2.47		2.37		2.23		1.67	1.94

NOTES:

¹

Earnings and fixed charges as defined in instructions for Item 503 of Regulation S-K.



²

Preferred dividends of a consolidated subsidiary are included in fixed charges, but excluded from earnings as defined because the amount was not deducted in arriving at pretax income from continuing operations.

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CMS ENERGY CORPORATION Ratio of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Dividends