Financings And Capitalization (Tables)

12 Months Ended

Dec. 31, 2016

Summary Of Long-Term Debt Outstanding

In Millions
	Interest Rate  (%)		Maturity	2016			2015
CMS Energy, including Consumers
CMS Energy, parent only
Senior notes	6.550		2017		$	-		$	250
	5.050		2018			-			250
	8.750		2019			300			300
	6.250		2020			300			300
	5.050		2022			300			300
	3.875		2024			250			250
	3.600		2025			250			250
	3.000		2026			300			-
	2.950		2027			275			-
	4.700		2043			250			250
	4.875		2044			300			300
Total senior notes					$	2,525		$	2,450
Term loan facility	variable	1	2018			180			180
EnerBank
Certificates of deposit	1.505	2	2017-2026			1,198			1,098
Consumers						5,661			5,409
Total principal amount outstanding					$	9,564		$	9,137
Current amounts						(864)			(684)
Net unamortized discounts						(15)			(12)
Unamortized issuance costs						(45)			(41)
Total long-term debt					$	8,640		$	8,400

¹ Outstanding borrowings bear interest at an annual interest rate of LIBOR plus 0.85 percent (1.61 percent at December 31, 2016).

² The weighted-average interest rate for EnerBank’s certificates of deposit was 1.51 percent at December 31, 2016 and 1.36 percent at December 31, 2015. EnerBank’s primary deposit product consists of brokered certificates of deposit with varying maturities and having a face value of $1,000.

Major Long-Term Debt Transactions

	Principal					Issue/Retirement
	(In Millions)			Interest Rate		Date	Maturity Date
Debt issuances
CMS Energy, parent only
Senior notes		$	300	3.000	%	May 2016	May 2026
Senior notes			275	2.950		November 2016	February 2027
Total CMS Energy, parent only		$	575
Consumers
First mortgage bonds		$	450	3.250	%	August 2016	August 2046
Total Consumers		$	450
Total CMS Energy		$	1,025
Debt retirements
CMS Energy, parent only
Senior notes		$	250	6.550	%	December 2016	July 2017
Senior notes			250	5.050		December 2016	February 2018
Total CMS Energy, parent only		$	500
Consumers
First mortgage bonds		$	173	5.500	%	August 2016	August 2016
Total Consumers		$	173
Total CMS Energy		$	673

Debt Maturities

In Millions
	2017			2018			2019			2020			2021
CMS Energy, including Consumers
Long-term debt		$	864		$	975		$	1,326		$	850		$	103
Consumers
Long-term debt		$	375		$	523		$	876		$	426		$	27

Revolving Credit Facilities

In Millions
	Amount of			Amount			Letters of Credit			Amount
Expiration Date	Facility			Borrowed			Outstanding			Available
CMS Energy, parent only
May 27, 20211,3		$	550		$	-		$	1		$	549
Consumers
May 27, 20211,4		$	650		$	-		$	7		$	643
November 23, 20182,4			250			-			-			250
May 9, 20184			30			-			30			-

¹ In May 2016, the expiration date of this revolving credit agreement was extended from 2020 to 2021.

² In November 2016, the expiration date of this revolving credit agreement was extended from 2017 to 2018.

³ During the year ended December 31, 2016, CMS Energy’s average borrowings totaled $3 million with a weighted-average interest rate of 1.68percent. Obligations under this facility are secured by Consumers common stock.

⁴ Obligations under this facility are secured by first mortgage bonds of Consumers.

Issuance Of Common Stock

	Number of	Average			Proceeds
	Shares Issued	Price per Share			(In Millions)
2015	888,610		$	33.76		$	30
2016	1,449,171			41.40			60
Total	2,337,781		$	38.50		$	90

Consumers Energy Company [Member]

Summary Of Long-Term Debt Outstanding

In Millions
	Interest Rate  (%)		Maturity	2016			2015
Consumers
First mortgage bonds1	5.500		2016		$	-		$	173
	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			325
	3.190		2024			52			52
	3.125		2024			250			250
	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			425
	4.100		2045			250			250
	3.250		2046			450			-
	4.350		2064			250			250
Total first mortgage bonds					$	5,050		$	4,773
Securitization bonds	2.790	2	2020-2029	3		328			353
Senior notes	6.875		2018			180			180
Tax-exempt pollution control revenue bonds	various		2018-2035			103			103
Total principal amount outstanding					$	5,661		$	5,409
Current amounts						(375)			(198)
Net unamortized discounts						(8)			(5)
Unamortized issuance costs						(25)			(23)
Total long-term debt					$	5,253		$	5,183

¹ The weighted-average interest rate for Consumers’ first mortgage bonds was 4.57 percent at December 31, 2016 and 4.73 percent at December 31, 2015.

² The weighted-average interest rate for Consumers’ securitization bonds issued through its subsidiary Consumers 2014 Securitization Funding was 2.79 percent at December 31, 2016 and 2.69 percent at December 31, 2015.

³ Principal and interest payments are made semiannually.

Major Long-Term Debt Transactions

	Principal					Issue/Retirement
	(In Millions)			Interest Rate		Date	Maturity Date
Debt issuances
CMS Energy, parent only
Senior notes		$	300	3.000	%	May 2016	May 2026
Senior notes			275	2.950		November 2016	February 2027
Total CMS Energy, parent only		$	575
Consumers
First mortgage bonds		$	450	3.250	%	August 2016	August 2046
Total Consumers		$	450
Total CMS Energy		$	1,025
Debt retirements
CMS Energy, parent only
Senior notes		$	250	6.550	%	December 2016	July 2017
Senior notes			250	5.050		December 2016	February 2018
Total CMS Energy, parent only		$	500
Consumers
First mortgage bonds		$	173	5.500	%	August 2016	August 2016
Total Consumers		$	173
Total CMS Energy		$	673

Debt Maturities

In Millions
	2017			2018			2019			2020			2021
CMS Energy, including Consumers
Long-term debt		$	864		$	975		$	1,326		$	850		$	103
Consumers
Long-term debt		$	375		$	523		$	876		$	426		$	27

Revolving Credit Facilities

In Millions
	Amount of			Amount			Letters of Credit			Amount
Expiration Date	Facility			Borrowed			Outstanding			Available
CMS Energy, parent only
May 27, 20211,3		$	550		$	-		$	1		$	549
Consumers
May 27, 20211,4		$	650		$	-		$	7		$	643
November 23, 20182,4			250			-			-			250
May 9, 20184			30			-			30			-

¹ In May 2016, the expiration date of this revolving credit agreement was extended from 2020 to 2021.

² In November 2016, the expiration date of this revolving credit agreement was extended from 2017 to 2018.

³ During the year ended December 31, 2016, CMS Energy’s average borrowings totaled $3 million with a weighted-average interest rate of 1.68percent. Obligations under this facility are secured by Consumers common stock.

⁴ Obligations under this facility are secured by first mortgage bonds of Consumers.

Preferred Stock

				Optional			Number of	Balance
				Redemption			Shares	Outstanding
	Series			Price			Outstanding	(In Millions)
December 31								2016			2015
Cumulative, $100par value, authorized 7,500,000shares, with no mandatory    redemption		$	4.50		$	110.00	373,148		$	37		$	37