|
Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Cash Flows from Operating Activities |
|
|
| Net income |
$ 317 |
$ 376 |
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
| Depreciation and amortization |
440 |
404 |
| Deferred income taxes and investment tax credit |
193 |
149 |
| Postretirement benefits expense |
141 |
124 |
| Other non-cash operating activities |
51 |
65 |
| Postretirement benefits contributions |
(54) |
(56) |
| Changes in other assets and liabilities |
|
|
| Decrease (increase) in accounts receivable, notes receivable, and accrued revenue |
99 |
295 |
| Decrease (increase) in inventories |
(83) |
(106) |
| Decrease in deferred property taxes |
140 |
133 |
| Increase (decrease) in accounts payable |
(16) |
10 |
| Increase (decrease) in accrued expenses |
(251) |
(227) |
| Decrease (increase) in other current and non-current assets |
1 |
(23) |
| Increase (decrease) in other current and non-current liabilities |
(44) |
51 |
| Net cash provided by operating activities |
934 |
1,195 |
| Cash Flows from Investing Activities |
|
|
| Capital expenditures (excludes assets placed under capital lease) |
(861) |
(624) |
| Cost to retire property |
(32) |
(43) |
| Increase in EnerBank loans receivable |
(32) |
(60) |
| Other investing activities |
(13) |
(25) |
| Net cash used in investing activities |
(938) |
(752) |
| Cash Flows from Financing Activities |
|
|
| Proceeds from issuance of long-term debt |
1,300 |
375 |
| Proceeds from (retirements of) EnerBank notes, net |
25 |
58 |
| Issuance of common stock |
27 |
26 |
| Retirement of long-term debt |
(1,166) |
(300) |
| Payment of DOE liability |
|
(43) |
| Payment of common stock dividends |
(188) |
(159) |
| Payment of capital and finance lease obligations and other financing costs |
(27) |
(26) |
| Net cash (used in) provided by financing activities |
(29) |
(69) |
| Net Increase (Decrease) in Cash and Cash Equivalents, Including Assets Held for Sale |
(33) |
374 |
| Decrease (Increase) in Cash and Cash Equivalents Included in Assets Held for Sale |
|
2 |
| Net Increase (Decrease) in Cash and Cash Equivalents |
(33) |
376 |
| Cash and Cash Equivalents, Beginning of Period |
161 |
247 |
| Cash and Cash Equivalents, End of Period |
128 |
623 |
|
Consumers Energy Company [Member]
|
|
|
| Cash Flows from Operating Activities |
|
|
| Net income |
361 |
400 |
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
| Depreciation and amortization |
436 |
401 |
| Deferred income taxes and investment tax credit |
92 |
85 |
| Postretirement benefits expense |
138 |
117 |
| Other non-cash operating activities |
46 |
52 |
| Postretirement benefits contributions |
(51) |
(53) |
| Changes in other assets and liabilities |
|
|
| Decrease (increase) in accounts receivable, notes receivable, and accrued revenue |
98 |
283 |
| Decrease (increase) in inventories |
(81) |
(109) |
| Decrease in deferred property taxes |
140 |
133 |
| Increase (decrease) in accounts payable |
(4) |
27 |
| Increase (decrease) in accrued expenses |
(143) |
(126) |
| Decrease (increase) in other current and non-current assets |
2 |
(25) |
| Increase (decrease) in other current and non-current liabilities |
(9) |
60 |
| Net cash provided by operating activities |
1,025 |
1,245 |
| Cash Flows from Investing Activities |
|
|
| Capital expenditures (excludes assets placed under capital lease) |
(857) |
(618) |
| Cost to retire property |
(32) |
(43) |
| Other investing activities |
(11) |
(22) |
| Net cash used in investing activities |
(900) |
(683) |
| Cash Flows from Financing Activities |
|
|
| Proceeds from issuance of long-term debt |
725 |
|
| Retirement of long-term debt |
(703) |
(27) |
| Payment of DOE liability |
|
(43) |
| Payment of common stock dividends |
(302) |
(292) |
| Payment of preferred stock dividends |
(2) |
(2) |
| Stockholder contribution |
150 |
125 |
| Payment of capital and finance lease obligations and other financing costs |
(21) |
(21) |
| Net cash (used in) provided by financing activities |
(153) |
(260) |
| Net Increase (Decrease) in Cash and Cash Equivalents |
(28) |
302 |
| Cash and Cash Equivalents, Beginning of Period |
85 |
71 |
| Cash and Cash Equivalents, End of Period |
$ 57 |
$ 373 |