Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Assets And Liabilities Measured At Fair Value On A Recurring Basis

In Millions
	CMS Energy, including Consumers						Consumers
	September 30			December 31			September 30			December 31
	2014			2013			2014			2013
Assets1
Cash equivalents		$	394		$	87		$	146		$	-
Restricted cash equivalents			37			16			37			15
CMS Energy common stock			-			-			32			29
Nonqualified deferred    compensation plan assets			8			6			5			4
DB SERP
Cash equivalents			2			-			1			-
Mutual funds			131			136			93			95
Derivative instruments
Commodity contracts			4			5			3			4
Total		$	576		$	250		$	317		$	147
Liabilities1
Nonqualified deferred    compensation plan liabilities		$	8		$	6		$	5		$	4
Derivative instruments
Commodity contracts			2			1			2			-
Total		$	10		$	7		$	7		$	4

¹ All assets and liabilities were classified as Level 1 with the exception of commodity contracts, which were classified as Level 2 or Level 3, and which were insignificant at September 30, 2014.

Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Level 3 Inputs

In Millions
	Three Months Ended						Nine Months Ended
September 30	2014			2013			2014			2013
CMS Energy, including Consumers
Balance at beginning of period		$	1		$	8		$	4		$	2
Total gains (losses) offset through regulatory accounting			2			(2)			(16)			5
Purchases			-			1			(1)			-
Settlements			(2)			(1)			14			(1)
Balance at end of period		$	1		$	6		$	1		$	6
Unrealized gains included in earnings relating to assets and    liabilities still held at end of period1		$	-		$	1		$	-		$	-
Consumers
Balance at beginning of period		$	1		$	10		$	4		$	2
Total gains (losses) offset through regulatory accounting			2			(2)			(16)			5
Purchases			-			(1)			(1)			-
Settlements			(2)			(1)			14			(1)
Balance at end of period		$	1		$	6		$	1		$	6

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

Consumers Energy Company [Member]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

In Millions
	CMS Energy, including Consumers						Consumers
	September 30			December 31			September 30			December 31
	2014			2013			2014			2013
Assets1
Cash equivalents		$	394		$	87		$	146		$	-
Restricted cash equivalents			37			16			37			15
CMS Energy common stock			-			-			32			29
Nonqualified deferred    compensation plan assets			8			6			5			4
DB SERP
Cash equivalents			2			-			1			-
Mutual funds			131			136			93			95
Derivative instruments
Commodity contracts			4			5			3			4
Total		$	576		$	250		$	317		$	147
Liabilities1
Nonqualified deferred    compensation plan liabilities		$	8		$	6		$	5		$	4
Derivative instruments
Commodity contracts			2			1			2			-
Total		$	10		$	7		$	7		$	4

¹ All assets and liabilities were classified as Level 1 with the exception of commodity contracts, which were classified as Level 2 or Level 3, and which were insignificant at September 30, 2014.

Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Level 3 Inputs

In Millions
	Three Months Ended						Nine Months Ended
September 30	2014			2013			2014			2013
CMS Energy, including Consumers
Balance at beginning of period		$	1		$	8		$	4		$	2
Total gains (losses) offset through regulatory accounting			2			(2)			(16)			5
Purchases			-			1			(1)			-
Settlements			(2)			(1)			14			(1)
Balance at end of period		$	1		$	6		$	1		$	6
Unrealized gains included in earnings relating to assets and    liabilities still held at end of period1		$	-		$	1		$	-		$	-
Consumers
Balance at beginning of period		$	1		$	10		$	4		$	2
Total gains (losses) offset through regulatory accounting			2			(2)			(16)			5
Purchases			-			(1)			(1)			-
Settlements			(2)			(1)			14			(1)
Balance at end of period		$	1		$	6		$	1		$	6

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