Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2016
Schedule Of Effective Income Tax Rate Reconciliation



 

 

 

 

 

 

 



 

 

 

 

 

 

 

Nine Months Ended September 30

 2016 

 

 2015 

 

 

CMS Energy, including Consumers

 

 

 

 

 

 

 

U.S. federal income tax rate

 

 35.0 

%

 

 35.0 

%

 

Increase (decrease) in income taxes from:

 

 

 

 

 

 

 

State and local income taxes, net of federal effect

 

 4.2 

 

 

 4.8 

 

 

Accelerated flow-through of regulatory tax benefits1

 

 (4.7)

 

 

 (4.9)

 

 

Employee share-based awards2

 

 (0.8)

 

 

 -

 

 

Other, net

 

 (1.4)

 

 

 (1.4)

 

 

Effective tax rate

 

 32.3 

%

 

 33.5 

%

 

Consumers

 

 

 

 

 

 

 

U.S. federal income tax rate

 

 35.0 

%

 

 35.0 

%

 

Increase (decrease) in income taxes from:

 

 

 

 

 

 

 

State and local income taxes, net of federal effect

 

 4.6 

 

 

 4.8 

 

 

Accelerated flow-through of regulatory tax benefits1

 

 (4.0)

 

 

 (4.2)

 

 

Employee share-based awards2

 

 (0.7)

 

 

 -

 

 

Other, net

 

 (1.2)

 

 

 (1.5)

 

 

Effective tax rate

 

 33.7 

%

 

 34.1 

%

 



1

Since 2014, Consumers has followed a new regulatory treatment ordered by the MPSC that accelerates the return of certain income tax benefits to customers. This change, which also accelerates Consumers’ recognition of the income tax benefits, reduced Consumers’ income tax expense by $30 million for the nine months ended September 30, 2016 and by $29 million for the nine months ended September 30, 2015.

2

CMS Energy and Consumers elected to adopt ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, as of January 1, 2016. For further details on the implementation of this standard, see Note 1, New Accounting Standards.
Consumers Energy Company [Member]  
Schedule Of Effective Income Tax Rate Reconciliation



 

 

 

 

 

 

 



 

 

 

 

 

 

 

Nine Months Ended September 30

 2016 

 

 2015 

 

 

CMS Energy, including Consumers

 

 

 

 

 

 

 

U.S. federal income tax rate

 

 35.0 

%

 

 35.0 

%

 

Increase (decrease) in income taxes from:

 

 

 

 

 

 

 

State and local income taxes, net of federal effect

 

 4.2 

 

 

 4.8 

 

 

Accelerated flow-through of regulatory tax benefits1

 

 (4.7)

 

 

 (4.9)

 

 

Employee share-based awards2

 

 (0.8)

 

 

 -

 

 

Other, net

 

 (1.4)

 

 

 (1.4)

 

 

Effective tax rate

 

 32.3 

%

 

 33.5 

%

 

Consumers

 

 

 

 

 

 

 

U.S. federal income tax rate

 

 35.0 

%

 

 35.0 

%

 

Increase (decrease) in income taxes from:

 

 

 

 

 

 

 

State and local income taxes, net of federal effect

 

 4.6 

 

 

 4.8 

 

 

Accelerated flow-through of regulatory tax benefits1

 

 (4.0)

 

 

 (4.2)

 

 

Employee share-based awards2

 

 (0.7)

 

 

 -

 

 

Other, net

 

 (1.2)

 

 

 (1.5)

 

 

Effective tax rate

 

 33.7 

%

 

 34.1 

%

 



1

Since 2014, Consumers has followed a new regulatory treatment ordered by the MPSC that accelerates the return of certain income tax benefits to customers. This change, which also accelerates Consumers’ recognition of the income tax benefits, reduced Consumers’ income tax expense by $30 million for the nine months ended September 30, 2016 and by $29 million for the nine months ended September 30, 2015.

2

CMS Energy and Consumers elected to adopt ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, as of January 1, 2016. For further details on the implementation of this standard, see Note 1, New Accounting Standards.