v3.25.2
Consumers Energy Company Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net Income $ 488 $ 445
Adjustments to reconcile net income to net cash provided by operating activities    
Deferred income taxes and investment tax credits 124 79
Other non‑cash operating activities and reconciling adjustments (144) (107)
Changes in assets and liabilities    
Accounts receivable and accrued revenue 80 153
Inventories 34 158
Accounts payable and accrued rate refunds 24 (2)
Other current assets and liabilities 117 129
Other non‑current assets and liabilities 15 167
Net cash provided by operating activities 1,414 1,663
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (1,772) (1,294)
Proceeds from sale of ASP business 0 124
Cost to retire property and other investing activities (108) (76)
Net cash used in investing activities (1,880) (1,246)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 2,449 704
Retirement of debt (841) (433)
Decrease in notes payable (65) (93)
Other financing costs (60) (19)
Net cash provided by financing activities 1,213 124
Net Increase in Cash and Cash Equivalents, Including Restricted Amounts 747 541
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 178 248
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 925 789
Non‑cash transactions    
Capital expenditures not paid 537 259
Consumers Energy Company    
Cash Flows from Operating Activities    
Net Income 534 453
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 651 617
Deferred income taxes and investment tax credits 66 76
Other non‑cash operating activities and reconciling adjustments (80) (38)
Changes in assets and liabilities    
Accounts receivable and accrued revenue 95 151
Inventories 33 158
Accounts payable and accrued rate refunds 59 5
Other current assets and liabilities 125 114
Other non‑current assets and liabilities (4) 155
Net cash provided by operating activities 1,479 1,691
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (1,519) (1,228)
Proceeds from sale of ASP business 0 124
Cost to retire property and other investing activities (113) (72)
Net cash used in investing activities (1,632) (1,176)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 1,123 599
Retirement of debt (57) (15)
Decrease in notes payable (65) (93)
Stockholder contribution 150 320
Return of stockholder contribution 0 (320)
Payment of dividends on common and preferred stock (417) (360)
Other financing costs (20) (6)
Net cash provided by financing activities 714 125
Net Increase in Cash and Cash Equivalents, Including Restricted Amounts 561 640
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 119 56
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 680 696
Non‑cash transactions    
Capital expenditures not paid $ 425 $ 255