|
Consolidated Statements Of Income (USD $) In Millions, except Per Share data, unless otherwise specified
|
3 Months Ended |
9 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Operating Revenue |
$ 1,507 |
$ 1,464 |
$ 4,583 |
$ 4,883 |
| Operating Expenses |
|
|
|
|
| Fuel for electric generation |
190 |
199 |
446 |
504 |
| Purchased and interchange power |
386 |
365 |
1,037 |
968 |
| Purchased power - related parties |
23 |
23 |
65 |
64 |
| Cost of gas sold |
80 |
107 |
763 |
1,095 |
| Maintenance and other operating expenses |
295 |
301 |
872 |
868 |
| Depreciation and amortization |
138 |
120 |
440 |
404 |
| General taxes |
53 |
33 |
170 |
151 |
| Gain on asset sales, net |
(1) |
|
(1) |
|
| Total operating expenses |
1,164 |
1,148 |
3,792 |
4,054 |
| Operating Income |
343 |
316 |
791 |
829 |
| Other Income (Expense) |
|
|
|
|
| Interest income |
1 |
4 |
3 |
8 |
| Allowance for equity funds used during construction |
2 |
1 |
6 |
4 |
| Income (loss) from equity method investees |
5 |
4 |
13 |
10 |
| Other income |
3 |
3 |
9 |
12 |
| Other expense |
(11) |
(3) |
(16) |
(8) |
| Total other income (expense) |
|
9 |
15 |
26 |
| Interest Charges |
|
|
|
|
| Interest on long-term debt |
92 |
99 |
280 |
298 |
| Other interest expense |
5 |
6 |
16 |
18 |
| Allowance for borrowed funds used during construction |
(1) |
(1) |
(3) |
(3) |
| Total interest charges |
96 |
104 |
293 |
313 |
| Income Before Income Taxes |
247 |
221 |
513 |
542 |
| Income Tax Expense |
98 |
81 |
203 |
168 |
| Income From Continuing Operations |
149 |
140 |
310 |
374 |
| Income From Discontinued Operations, Net of Tax |
|
|
7 |
2 |
| Net Income |
149 |
140 |
317 |
376 |
| Income Attributable to Noncontrolling Interests |
1 |
1 |
2 |
2 |
| Net Income (Loss) Attributable to Parent |
148 |
139 |
315 |
374 |
| Net Income Available to Common Stockholders |
148 |
139 |
315 |
374 |
| Net Income Attributable to Common Stockholders |
|
|
|
|
| Amounts attributable to continuing operations |
148 |
139 |
308 |
372 |
| Amounts attributable to discontinued operations |
|
|
7 |
2 |
| Net Income Available to Common Stockholders |
148 |
139 |
315 |
374 |
| Income Attributable to Noncontrolling Interests |
|
|
|
|
| Amounts attributable to continuing operations |
1 |
1 |
2 |
2 |
| Income attributable to noncontrolling interests |
1 |
1 |
2 |
2 |
| Basic Earnings Per Average Common Share |
|
|
|
|
| Basic earnings from continuing operations |
$ 0.56 |
$ 0.55 |
$ 1.18 |
$ 1.48 |
| Basic earnings from discontinued operations |
|
|
$ 0.03 |
$ 0.01 |
| Basic earnings attributable to common stock |
$ 0.56 |
$ 0.55 |
$ 1.21 |
$ 1.49 |
| Diluted Earnings Per Average Common Share |
|
|
|
|
| Diluted earnings from continuing operations |
$ 0.55 |
$ 0.53 |
$ 1.14 |
$ 1.42 |
| Diluted earnings from discontinued operations |
|
|
$ 0.03 |
$ 0.01 |
| Diluted earnings attributable to common stock |
$ 0.55 |
$ 0.53 |
$ 1.17 |
$ 1.43 |
| Dividends Declared Per Common Share |
$ 0.24 |
$ 0.21 |
$ 0.72 |
$ 0.63 |
|
Consumers Energy Company [Member]
|
|
|
|
|
| Operating Revenue |
1,448 |
1,397 |
4,405 |
4,688 |
| Operating Expenses |
|
|
|
|
| Fuel for electric generation |
166 |
175 |
382 |
442 |
| Purchased and interchange power |
379 |
362 |
1,019 |
954 |
| Purchased power - related parties |
23 |
24 |
65 |
64 |
| Cost of gas sold |
74 |
88 |
734 |
1,038 |
| Maintenance and other operating expenses |
284 |
286 |
827 |
824 |
| Depreciation and amortization |
137 |
119 |
436 |
401 |
| General taxes |
51 |
38 |
165 |
153 |
| Total operating expenses |
1,114 |
1,092 |
3,628 |
3,876 |
| Operating Income |
334 |
305 |
777 |
812 |
| Other Income (Expense) |
|
|
|
|
| Interest income |
|
2 |
2 |
6 |
| Interest and dividend income - related parties |
1 |
1 |
1 |
1 |
| Allowance for equity funds used during construction |
2 |
1 |
6 |
4 |
| Other income |
3 |
3 |
14 |
16 |
| Other expense |
(11) |
(3) |
(16) |
(8) |
| Total other income (expense) |
(5) |
4 |
7 |
19 |
| Interest Charges |
|
|
|
|
| Interest on long-term debt |
56 |
62 |
175 |
188 |
| Other interest expense |
4 |
5 |
12 |
14 |
| Allowance for borrowed funds used during construction |
(1) |
(1) |
(3) |
(3) |
| Total interest charges |
59 |
66 |
184 |
199 |
| Income Before Income Taxes |
270 |
243 |
600 |
632 |
| Income Tax Expense |
107 |
88 |
239 |
232 |
| Net Income |
163 |
155 |
361 |
400 |
| Preferred Stock Dividends |
1 |
1 |
2 |
2 |
| Net Income Available to Common Stockholders |
162 |
154 |
359 |
398 |
| Net Income Attributable to Common Stockholders |
|
|
|
|
| Net Income Available to Common Stockholders |
$ 162 |
$ 154 |
$ 359 |
$ 398 |