v3.26.3
Consumers Energy Company Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows from Operating Activities    
Net Income (Loss) $ 282 $ 760
Adjustments to reconcile net income to net cash provided by operating activities    
Deferred income taxes and investment tax credits 81 171
Other non‑cash operating activities and reconciling adjustments (149) (181)
Changes in assets and liabilities    
Accounts and notes receivable and accrued revenue 231 114
Inventories (142) (134)
Accounts payable and accrued rate refunds (111) (6)
Other current assets and liabilities 5 103
Other non-current assets and liabilities 81 (34)
Net cash provided by operating activities 1,798 1,757
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (2,945) (2,750)
Cost to retire property and other investing activities (166) (176)
Net cash used in investing activities (3,111) (2,926)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 2,173 2,511
Retirement of debt (929) (884)
Decrease in notes payable 0 (65)
Other financing costs (34) (60)
Net cash provided by financing activities 1,277 1,423
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts (36) 254
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 615 178
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 579 432
Non‑cash transactions    
Capital expenditures not paid 662 586
Consumers Energy Company    
Cash Flows from Operating Activities    
Net Income (Loss) 895 848
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 981 925
Deferred income taxes and investment tax credits 103 57
Other non‑cash operating activities and reconciling adjustments (146) (111)
Changes in assets and liabilities    
Accounts and notes receivable and accrued revenue 243 124
Inventories (150) (137)
Accounts payable and accrued rate refunds (96) 1
Other current assets and liabilities (70) 121
Other non-current assets and liabilities (89) (54)
Net cash provided by operating activities 1,671 1,774
Cash Flows from Investing Activities    
Capital expenditures (excludes assets placed under finance lease) (2,655) (2,389)
Cost to retire property and other investing activities (170) (180)
Net cash used in investing activities (2,825) (2,569)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 1,747 1,123
Retirement of debt (220) (100)
Stockholder contribution 855 695
Payment of dividends on common and preferred stock (673) (650)
Other financing costs (1) (16)
Net cash provided by financing activities 1,368 987
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts 214 192
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period 111 119
Cash and Cash Equivalents, Including Restricted Amounts, End of Period 325 311
Non‑cash transactions    
Capital expenditures not paid 569 453
Consumers Energy Company | Nonrelated Party    
Cash Flows from Financing Activities    
Decrease in notes payable 0 (65)
Consumers Energy Company | Related Party    
Cash Flows from Financing Activities    
Decrease in notes payable $ (340) $ 0