Consumers Energy Company Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 451	$ 509
Restricted cash and cash equivalents	102	106
Inventories at average cost
Gas in underground storage	551	427
Materials and supplies	342	329
Generating plant fuel stock	40	35
Deferred property taxes	318	479
Regulatory assets	59	104
Prepayments and other current assets	148	160
Total current assets	3,206	3,472
Other Non‑current Assets
Regulatory assets	3,381	3,355
Accounts and notes receivable – related parties	17	18
Postretirement benefits	2,101	1,957
Other	226	398
Total other non‑current assets	6,537	5,789
Total Assets	41,683	39,941
Current Liabilities
Current portion of long-term debt and finance leases	1,258	956
Accrued rate refunds	0	28
Accrued interest	227	182
Accrued taxes	225	708
Regulatory liabilities	95	85
Other current liabilities	237	185
Total current liabilities	3,388	3,548
Non‑current Liabilities
Long-term debt	18,743	17,807
Non-current portion of finance leases	206	135
Regulatory liabilities	4,149	4,091
Postretirement benefits	92	95
AROs	778	792
Deferred investment tax credit	168	118
Deferred income taxes	3,306	3,252
Other non‑current liabilities	471	392
Total non‑current liabilities	28,000	26,682
Commitments and Contingencies (Notes 2, 3, and 8)
Common stockholders’ equity
Common stock	3	3
Other paid-in capital	7,046	6,510
Accumulated other comprehensive loss	(35)	(36)
Retained earnings	2,488	2,443
Total common stockholders’ equity	9,502	8,920
Cumulative preferred stock	224	224
Total stockholders’ equity	9,726	9,144
Total Liabilities and Equity	41,683	39,941
Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $42 in 2026 and $27 in 2025	1,137	1,306
Current Liabilities
Accounts payable	1,326	1,395
Related Party
Current Liabilities
Accounts payable	6	9
Consumers Energy Company
Current Assets
Cash and cash equivalents	257	25
Restricted cash and cash equivalents	68	86
Inventories at average cost
Gas in underground storage	551	427
Materials and supplies	333	316
Generating plant fuel stock	40	31
Deferred property taxes	318	479
Regulatory assets	59	104
Prepayments and other current assets	111	132
Total current assets	2,697	2,825
Plant, Property, and Equipment
Plant, property, and equipment, gross	38,381	36,120
Less accumulated depreciation and amortization	10,369	9,842
Plant, property, and equipment, net	28,012	26,278
Construction work in progress	2,848	2,354
Total plant, property, and equipment	30,860	28,632
Other Non‑current Assets
Regulatory assets	3,381	3,355
Postretirement benefits	1,955	1,821
Other	203	346
Total other non‑current assets	5,647	5,634
Total Assets	39,204	37,091
Current Liabilities
Current portion of long-term debt and finance leases	470	579
Accrued rate refunds	0	28
Accrued interest	165	149
Accrued taxes	258	747
Regulatory liabilities	95	85
Other current liabilities	147	163
Total current liabilities	2,366	3,334
Non‑current Liabilities
Non-current portion of finance leases	176	81
Regulatory liabilities	4,149	4,091
Postretirement benefits	67	70
AROs	768	753
Deferred investment tax credit	168	118
Deferred income taxes	3,277	3,201
Other non‑current liabilities	420	336
Total non‑current liabilities	23,182	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	(12)	(13)
Retained earnings	2,841	2,619
Total common stockholders’ equity	13,619	12,541
Cumulative preferred stock	37	37
Total stockholders’ equity	13,656	12,578
Total Liabilities and Equity	39,204	37,091
Consumers Energy Company \| Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $42 in 2026 and $27 in 2025	951	1,210
Other Non‑current Assets
Accounts receivable	22	24
Current Liabilities
Accounts payable	1,219	1,229
Non‑current Liabilities
Long-term debt	13,152	11,524
Consumers Energy Company \| Related Party
Current Assets
Accounts and notes receivable – related parties	9	15
Other Non‑current Assets
Accounts and notes receivable – related parties	86	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.