v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:
In Millions
CMS Energy, including ConsumersConsumers
June 30
2025		December 31
2024		June 30
2025		December 31
2024
Assets1
Cash equivalents$87 $27 $— $— 
Restricted cash equivalents81 75 81 75 
Nonqualified deferred compensation plan assets34 34 26 25 
Derivative instruments4 2 4 2 
Total assets$206 $138 $111 $102 
Liabilities1
Nonqualified deferred compensation plan liabilities$34 $34 $26 $25 
Derivative instruments4 — — — 
Total liabilities$38 $34 $26 $25 
1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 2 and 3.
Consumers Energy Company  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Presented in the following table are CMS Energy’s and Consumers’ assets and liabilities recorded at fair value on a recurring basis:
In Millions
CMS Energy, including ConsumersConsumers
June 30
2025		December 31
2024		June 30
2025		December 31
2024
Assets1
Cash equivalents$87 $27 $— $— 
Restricted cash equivalents81 75 81 75 
Nonqualified deferred compensation plan assets34 34 26 25 
Derivative instruments4 2 4 2 
Total assets$206 $138 $111 $102 
Liabilities1
Nonqualified deferred compensation plan liabilities$34 $34 $26 $25 
Derivative instruments4 — — — 
Total liabilities$38 $34 $26 $25 
1All assets and liabilities were classified as Level 1 with the exception of derivative contracts, which were classified as Level 2 and 3.