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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Schedule of Share-based Compensation, Restricted Stock Units Award Activity

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013

Number of Shares 

Weighted-Average Grant Date 
Fair Value per Share 

 

CMS Energy, including Consumers

 

 

 

 

 

Nonvested at beginning of period
1,654,776 

 

$
19.15 

 

Granted1
920,587 

 

 
16.65 

 

Vested
(927,164)

 

 
10.85 

 

Forfeited
(22,343)

 

 
22.33 

 

Nonvested at end of period
1,625,856 

 

$
22.42 

 

Consumers

 

 

 

 

 

Nonvested at beginning of period
1,547,123 

 

$
19.22 

 

Granted1
879,150 

 

 
16.76 

 

Vested
(841,728)

 

 
10.84 

 

Forfeited
(22,343)

 

 
22.33 

 

Nonvested at end of period
1,562,202 

 

$
22.31 

 

 

1

During 2013, CMS Energy granted 326,518 TSR shares, 271,250 time-lapse shares, 45,486 shares from dividends paid on TSR shares, and 277,333 shares granted as a result of the outcome of the TSR awards’ market condition.  During 2013, Consumers granted 310,454 TSR shares, 264,283 time-lapse shares, 43,450 shares from dividends paid on TSR shares, and 260,963 shares granted as a result of the outcome of the TSR awards’ market condition.

Schedule of Share-based Payment Award, Restricted Stock, Valuation Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
2013 

 
2012 

 
2011 

 

 

Expected volatility

 
17.4 

%

 
20.3 

%

 
29.6 

%

 

Expected dividend yield

 
3.9 

 

 
4.1 

 

 
4.6 

 

 

Risk-free rate

 
0.4 

 

 
0.3 

 

 
1.0 

 

 

 

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31
2013 
2012 
2011 

 

CMS Energy, including Consumers

 

 

 

 

 

 

 

 

 

 

Weighted-average grant-date fair value per share

 

 

 

 

 

 

 

 

 

 

Restricted stock granted

 

$
16.65 

 

$
12.32 

 

$
13.89 

 

Consumers

 

 

 

 

 

 

 

 

 

 

Weighted-average grant-date fair value per share

 

 

 

 

 

 

 

 

 

 

Restricted stock granted

 

$
16.76 

 

$
12.28 

 

$
14.17 

 

 

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In Millions  

Years Ended December 31
2013 
2012 
2011 

 

CMS Energy, including Consumers

 

 

 

 

 

 

 

 

 

 

Fair value of shares that vested during the year

 

$
10 

 

$
10 

 

$
7 

 

Compensation expense recognized

 

 
14 

 

 
12 

 

 
10 

 

Income tax benefit recognized

 

 
5 

 

 
5 

 

 
4 

 

Consumers

 

 

 

 

 

 

 

 

 

 

Fair value of shares that vested during the year

 

$
9 

 

$
8 

 

$
7 

 

Compensation expense recognized

 

 
14 

 

 
11 

 

 
10 

 

Income tax benefit recognized

 

 
5 

 

 
4 

 

 
4 

 

 

Consumers Energy Company [Member]
  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013

Number of Shares 

Weighted-Average Grant Date 
Fair Value per Share 

 

CMS Energy, including Consumers

 

 

 

 

 

Nonvested at beginning of period
1,654,776 

 

$
19.15 

 

Granted1
920,587 

 

 
16.65 

 

Vested
(927,164)

 

 
10.85 

 

Forfeited
(22,343)

 

 
22.33 

 

Nonvested at end of period
1,625,856 

 

$
22.42 

 

Consumers

 

 

 

 

 

Nonvested at beginning of period
1,547,123 

 

$
19.22 

 

Granted1
879,150 

 

 
16.76 

 

Vested
(841,728)

 

 
10.84 

 

Forfeited
(22,343)

 

 
22.33 

 

Nonvested at end of period
1,562,202 

 

$
22.31 

 

 

1

During 2013, CMS Energy granted 326,518 TSR shares, 271,250 time-lapse shares, 45,486 shares from dividends paid on TSR shares, and 277,333 shares granted as a result of the outcome of the TSR awards’ market condition.  During 2013, Consumers granted 310,454 TSR shares, 264,283 time-lapse shares, 43,450 shares from dividends paid on TSR shares, and 260,963 shares granted as a result of the outcome of the TSR awards’ market condition.

Schedule of Share-based Payment Award, Restricted Stock, Valuation Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
2013 

 
2012 

 
2011 

 

 

Expected volatility

 
17.4 

%

 
20.3 

%

 
29.6 

%

 

Expected dividend yield

 
3.9 

 

 
4.1 

 

 
4.6 

 

 

Risk-free rate

 
0.4 

 

 
0.3 

 

 
1.0 

 

 

 

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31
2013 
2012 
2011 

 

CMS Energy, including Consumers

 

 

 

 

 

 

 

 

 

 

Weighted-average grant-date fair value per share

 

 

 

 

 

 

 

 

 

 

Restricted stock granted

 

$
16.65 

 

$
12.32 

 

$
13.89 

 

Consumers

 

 

 

 

 

 

 

 

 

 

Weighted-average grant-date fair value per share

 

 

 

 

 

 

 

 

 

 

Restricted stock granted

 

$
16.76 

 

$
12.28 

 

$
14.17 

 

 

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In Millions  

Years Ended December 31
2013 
2012 
2011 

 

CMS Energy, including Consumers

 

 

 

 

 

 

 

 

 

 

Fair value of shares that vested during the year

 

$
10 

 

$
10 

 

$
7 

 

Compensation expense recognized

 

 
14 

 

 
12 

 

 
10 

 

Income tax benefit recognized

 

 
5 

 

 
5 

 

 
4 

 

Consumers

 

 

 

 

 

 

 

 

 

 

Fair value of shares that vested during the year

 

$
9 

 

$
8 

 

$
7 

 

Compensation expense recognized

 

 
14 

 

 
11 

 

 
10 

 

Income tax benefit recognized

 

 
5 

 

 
4 

 

 
4