Consumers Energy Company Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 241	$ 509
Restricted cash and cash equivalents	104	106
Inventories at average cost
Gas in underground storage	414	427
Materials and supplies	345	329
Generating plant fuel stock	65	35
Deferred property taxes	350	479
Regulatory assets	81	104
Prepayments and other current assets	243	160
Total current assets	2,866	3,472
Other Non‑current Assets
Regulatory assets	3,274	3,355
Accounts and notes receivable – related parties	18	18
Postretirement benefits	2,053	1,957
Other	302	398
Total other non‑current assets	5,710	5,789
Total Assets	40,905	39,941
Current Liabilities
Current portion of long-term debt and finance leases	870	956
Accrued rate refunds	0	28
Accrued interest	183	182
Accrued taxes	498	708
Regulatory liabilities	96	85
Other current liabilities	187	185
Total current liabilities	3,063	3,548
Non‑current Liabilities
Long-term debt	18,172	17,807
Non-current portion of finance leases	259	135
Regulatory liabilities	4,152	4,091
Postretirement benefits	93	95
AROs	808	792
Deferred investment tax credit	116	118
Deferred income taxes	3,399	3,252
Other non‑current liabilities	444	392
Total non‑current liabilities	27,443	26,682
Commitments and Contingencies (Notes 2, 3, and 8)
Common stockholders’ equity
Common stock	3	3
Other paid-in capital	7,036	6,510
Accumulated other comprehensive loss	(35)	(36)
Retained earnings	2,546	2,443
Total common stockholders’ equity	9,550	8,920
Cumulative preferred stock	224	224
Total stockholders’ equity	9,774	9,144
Total Liabilities and Equity	40,905	39,941
Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $32 in 2026 and $27 in 2025	1,008	1,306
Current Liabilities
Accounts payable	1,223	1,395
Related Party
Current Liabilities
Accounts payable	6	9
Consumers Energy Company
Current Assets
Cash and cash equivalents	130	25
Restricted cash and cash equivalents	85	86
Inventories at average cost
Gas in underground storage	414	427
Materials and supplies	336	316
Generating plant fuel stock	60	31
Deferred property taxes	350	479
Regulatory assets	81	104
Prepayments and other current assets	198	132
Total current assets	2,624	2,825
Plant, Property, and Equipment
Plant, property, and equipment, gross	37,175	36,120
Less accumulated depreciation and amortization	10,177	9,842
Plant, property, and equipment, net	26,998	26,278
Construction work in progress	3,102	2,354
Total plant, property, and equipment	30,100	28,632
Other Non‑current Assets
Regulatory assets	3,274	3,355
Postretirement benefits	1,910	1,821
Other	247	346
Total other non‑current assets	5,542	5,634
Total Assets	38,266	37,091
Current Liabilities
Current portion of long-term debt and finance leases	466	579
Accrued rate refunds	0	28
Accrued interest	150	149
Accrued taxes	509	747
Regulatory liabilities	96	85
Other current liabilities	146	163
Total current liabilities	2,479	3,334
Non‑current Liabilities
Non-current portion of finance leases	178	81
Regulatory liabilities	4,152	4,091
Postretirement benefits	68	70
AROs	763	753
Deferred investment tax credit	116	118
Deferred income taxes	3,321	3,201
Other non‑current liabilities	388	336
Total non‑current liabilities	22,299	21,179
Commitments and Contingencies (Notes 2, 3, and 8)
Common stockholders’ equity
Common stock	841	841
Other paid-in capital	9,949	9,094
Accumulated other comprehensive loss	(13)	(13)
Retained earnings	2,674	2,619
Total common stockholders’ equity	13,451	12,541
Cumulative preferred stock	37	37
Total stockholders’ equity	13,488	12,578
Total Liabilities and Equity	38,266	37,091
Consumers Energy Company \| Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $32 in 2026 and $27 in 2025	962	1,210
Other Non‑current Assets
Accounts receivable	24	24
Current Liabilities
Accounts payable	1,100	1,229
Non‑current Liabilities
Long-term debt	12,308	11,524
Consumers Energy Company \| Related Party
Current Assets
Accounts and notes receivable – related parties	8	15
Other Non‑current Assets
Accounts and notes receivable – related parties	87	88
Current Liabilities
Notes payable	0	340
Accounts payable	12	14
Non‑current Liabilities
Long-term debt	$ 1,005	$ 1,005

Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current AND Amount received for services rendered and products shipped, but not yet billed, for non-contractual agreements due within one year or the normal operating cycle, if longer.

No definition available.