Financings And Capitalization (Tables)

12 Months Ended

Dec. 31, 2013

Summary Of Long-Term Debt Outstanding

In Millions
	Interest Rate  (%)		Maturity	2013			2012
CMS Energy
Senior notes	2.750	1	2014		$	-		$	250
	6.875		2015			125			125
	4.250		2015			250			250
	6.550		2017			250			250
	5.050		2018			250			250
	8.750		2019			300			300
	6.250		2020			300			300
	5.050		2022			300			300
	5.500	2	2029			172			172
	4.700		2043			250			-
Total CMS Energy senior notes					$	2,197		$	2,197
Term loan facility	variable	3	2016			180			180
Total CMS Energy parent					$	2,377		$	2,377
Consumers					$	4,625		$	4,341
Other CMS Energy subsidiaries
EnerBank certificates of deposits	1.095	4	2014-2021		$	652		$	527
Total other CMS Energy subsidiaries					$	652		$	527
Total CMS Energy principal amount outstanding					$	7,654		$	7,245
Current amounts						(541)			(519)
Net unamortized discounts						(12)			(16)
Total CMS Energy long-term debt					$	7,101		$	6,710

¹ In September 2013, CMS Energy retired its 2.75 percent senior notes.

² CMSEnergy’s contingently convertible notes. See the “Contingently Convertible Securities” section in this Note for further discussion of the conversion features.

³ Outstanding borrowings bear interest at an annual interest rate of LIBOR plus 1.75 percent (1.92 percent at December 31, 2013). 

⁴ The weighted-average interest rate for EnerBank’s certificates of deposit was 1.09 percent at December 31, 2013 and 1.16 percent at December 31, 2012.  EnerBank’s primary deposit product consists of brokered certificates of deposit with varying maturities and having a face value of $1,000.

Summary Of Major Long-Term Debt Transactions

	Principal					Issue/Retirement
	(In Millions)			Interest Rate		Date	Maturity Date
Debt issuances
CMS Energy
Senior notes		$	250	4.700	%	March 2013	March 2043
Total CMS Energy parent		$	250
Consumers
FMBs		$	425	3.950	%	May 2013	May 2043
FMBs			325	3.375	%	August 2013	August 2023
Total Consumers		$	750
Total debt issuances		$	1,000
Debt retirements
CMS Energy
Senior notes		$	250	2.750	%	September 2013	May 2014
Total CMS Energy parent		$	250
Consumers
FMBs		$	200	6.000	%	June 2013	February 2014
FMBs			225	5.000	%	June 2013	March 2015
Total Consumers		$	425
Total debt retirements		$	675

Debt Maturities

In Millions
	2014			2015			2016			2017			2018
CMS Energy, including Consumers
Long-term debt		$	368		$	599		$	608		$	657		$	786
Consumers
Long-term debt		$	43		$	99		$	350		$	350		$	498

Revolving Credit Facilities

In Millions
							Letters of Credit
Expiration Date	Amount of Facility			Amount Borrowed			Outstanding			Amount Available
CMS Energy
December 20, 20181		$	550		$	-		$	2		$	548
Consumers
December 20, 20182		$	650		$	-		$	-		$	650
September 9, 20142			30			-			30			-

¹ Obligations under this facility are secured by Consumers common stock.  CMS Energy’s average borrowings during the year ended December 31, 2013 were $4 million, with a weighted-average annual interest rate of 1.67 percent, representing LIBOR plus 1.50 percent.

² Obligations under this facility are secured by FMBs of Consumers.

Contingently Convertible Securities

		Outstanding			Adjusted			Adjusted
Security	Maturity	(In Millions)			Conversion Price			Trigger Price
5.50% senior notes	2029		$	172		$	13.55		$	17.61

Issuance Of Stock

	Number of	Average			Proceeds
	Shares Issued	Price per Share			(In Millions)
June 2011	762,925		$	19.66		$	15
June 2012	650,235			23.07			15
March 2013	735,873			27.18			20
Total	2,149,033		$	23.27		$	50

Consumers Energy Company [Member]

Summary Of Long-Term Debt Outstanding

In Millions
	Interest Rate  (%)		Maturity	2013			2012
Consumers
FMBs1	6.000	2	2014		$	-		$	200
	5.000	2	2015			-			225
	2.600		2015			50			50
	5.500		2016			350			350
	5.150		2017			250			250
	3.210		2017			100			100
	5.650		2018			250			250
	6.125		2019			350			350
	6.700		2019			500			500
	5.650		2020			300			300
	3.770		2020			100			100
	5.300		2022			250			250
	2.850		2022			375			375
	3.375		2023			325			-
	3.190		2024			52			52
	3.390		2027			35			35
	5.800		2035			175			175
	6.170		2040			50			50
	4.970		2040			50			50
	4.310		2042			263			263
	3.950		2043			425			-
					$	4,250		$	3,925
Senior notes	6.875		2018			180			180
Securitization bonds	5.760	3	2015			92			133
Tax-exempt pollution control revenue bonds	various		2018-2035			103			103
Total Consumers principal amount outstanding					$	4,625		$	4,341
Current amounts						(43)			(41)
Net unamortized discounts						(3)			(3)
Total Consumers long-term debt					$	4,579		$	4,297

¹ The weighted-average interest rate for Consumers’ FMBs was 4.90 percent at December 31, 2013 and 5.19 percent at December 31, 2012.

² In June 2013, Consumers retired its 6.00 percent and 5.00 percent FMBs.

³ The weighted-average interest rate for Consumers’ Securitization bonds was 5.76 percent at December 31, 2013 and 5.72 percent at December 31, 2012.

Summary Of Major Long-Term Debt Transactions

	Principal					Issue/Retirement
	(In Millions)			Interest Rate		Date	Maturity Date
Debt issuances
CMS Energy
Senior notes		$	250	4.700	%	March 2013	March 2043
Total CMS Energy parent		$	250
Consumers
FMBs		$	425	3.950	%	May 2013	May 2043
FMBs			325	3.375	%	August 2013	August 2023
Total Consumers		$	750
Total debt issuances		$	1,000
Debt retirements
CMS Energy
Senior notes		$	250	2.750	%	September 2013	May 2014
Total CMS Energy parent		$	250
Consumers
FMBs		$	200	6.000	%	June 2013	February 2014
FMBs			225	5.000	%	June 2013	March 2015
Total Consumers		$	425
Total debt retirements		$	675

Debt Maturities

In Millions
	2014			2015			2016			2017			2018
CMS Energy, including Consumers
Long-term debt		$	368		$	599		$	608		$	657		$	786
Consumers
Long-term debt		$	43		$	99		$	350		$	350		$	498

Revolving Credit Facilities

In Millions
							Letters of Credit
Expiration Date	Amount of Facility			Amount Borrowed			Outstanding			Amount Available
CMS Energy
December 20, 20181		$	550		$	-		$	2		$	548
Consumers
December 20, 20182		$	650		$	-		$	-		$	650
September 9, 20142			30			-			30			-

¹ Obligations under this facility are secured by Consumers common stock.  CMS Energy’s average borrowings during the year ended December 31, 2013 were $4 million, with a weighted-average annual interest rate of 1.67 percent, representing LIBOR plus 1.50 percent.

² Obligations under this facility are secured by FMBs of Consumers.

Issuance Of Stock

				Optional			Number of	Balance
				Redemption			Shares	Outstanding
	Series			Price			Outstanding	(In Millions)
December 31								2013			2012
Cumulative, $100 par value, authorized 7,500,000 shares, with no mandatory    redemption		$	4.50		$	110.00	373,148		$	37		$	37
			4.16			103.25	68,451			-			7
Total preferred stock of Consumers									$	37		$	44