v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Financial Instruments [Line Items]  
Schedule of Carrying Amounts and Fair Values of Financial Instruments For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 5, Fair Value Measurements.
In Millions
June 30, 2026December 31, 2025
Carrying AmountFair ValueCarrying AmountFair Value
TotalLevelTotalLevel
123123
CMS Energy, including Consumers
Assets
Long-term receivables1
$6 $5 $— $— $5 $7 $6 $— $— $6 
Liabilities
Long-term debt2
19,036 18,438 1,984 14,643 1,811 18,757 17,645 2,042 13,663 1,940 
Long-term payables3
6 6 — — 6 7 7 — — 7 
Consumers
Assets
Long-term receivables1
$6 $5 $— $— $5 $7 $6 $— $— $6 
Notes receivable – related party4
89 89 — — 89 90 90 — — 90 
Liabilities
Long-term debt5
12,769 12,209 — 10,398 1,811 12,097 11,031 — 9,091 1,940 
Long-term debt – related party6
1,005 649 — 649 — 1,005 657 — 657 — 
Long-term payables1 1 — — 1 2 2 — — 2 
1Includes current portion of long-term accounts receivable and notes receivable of $2 million at June 30, 2026 and $3 million at December 31, 2025.
2Includes current portion of long-term debt of $864 million at June 30, 2026 and $950 million at December 31, 2025.
3Includes current portion of long-term payables of $1 million at June 30, 2026 and $2 million at December 31, 2025.
4Includes current portion of notes receivable – related party of $7 million at June 30, 2026 and December 31, 2025.
5Includes current portion of long-term debt of $461 million at June 30, 2026 and $573 million at December 31, 2025.
6For more information on CMS Energy’s repurchases of Consumers’ first mortgage bonds, see Note 4, Financings and Capitalization—CMS Energy’s Purchase of Consumers’ First Mortgage Bonds.
Consumers Energy Company  
Financial Instruments [Line Items]  
Schedule of Carrying Amounts and Fair Values of Financial Instruments For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 5, Fair Value Measurements.
In Millions
June 30, 2026December 31, 2025
Carrying AmountFair ValueCarrying AmountFair Value
TotalLevelTotalLevel
123123
CMS Energy, including Consumers
Assets
Long-term receivables1
$6 $5 $— $— $5 $7 $6 $— $— $6 
Liabilities
Long-term debt2
19,036 18,438 1,984 14,643 1,811 18,757 17,645 2,042 13,663 1,940 
Long-term payables3
6 6 — — 6 7 7 — — 7 
Consumers
Assets
Long-term receivables1
$6 $5 $— $— $5 $7 $6 $— $— $6 
Notes receivable – related party4
89 89 — — 89 90 90 — — 90 
Liabilities
Long-term debt5
12,769 12,209 — 10,398 1,811 12,097 11,031 — 9,091 1,940 
Long-term debt – related party6
1,005 649 — 649 — 1,005 657 — 657 — 
Long-term payables1 1 — — 1 2 2 — — 2 
1Includes current portion of long-term accounts receivable and notes receivable of $2 million at June 30, 2026 and $3 million at December 31, 2025.
2Includes current portion of long-term debt of $864 million at June 30, 2026 and $950 million at December 31, 2025.
3Includes current portion of long-term payables of $1 million at June 30, 2026 and $2 million at December 31, 2025.
4Includes current portion of notes receivable – related party of $7 million at June 30, 2026 and December 31, 2025.
5Includes current portion of long-term debt of $461 million at June 30, 2026 and $573 million at December 31, 2025.
6For more information on CMS Energy’s repurchases of Consumers’ first mortgage bonds, see Note 4, Financings and Capitalization—CMS Energy’s Purchase of Consumers’ First Mortgage Bonds.