Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions |
3 Months Ended |
Mar. 31, 2020 |
Mar. 31, 2019 |
| Operating Revenue |
$ 1,864
|
$ 2,059
|
| Operating Expenses |
|
|
| Fuel for electric generation |
103
|
142
|
| Purchased power – related parties |
18
|
18
|
| Maintenance and other operating expenses |
315
|
354
|
| Depreciation and amortization |
316
|
298
|
| General taxes |
114
|
106
|
| Total operating expenses |
1,496
|
1,700
|
| Operating Income |
368
|
359
|
| Other Income (Expense) |
|
|
| Interest income |
1
|
1
|
| Interest and dividend income – related parties |
7
|
0
|
| Allowance for equity funds used during construction |
1
|
2
|
| Income (loss) from equity method investees |
3
|
(1)
|
| Nonoperating retirement benefits, net |
31
|
23
|
| Other income |
0
|
1
|
| Other expense |
(4)
|
(3)
|
| Total other income |
39
|
23
|
| Interest Charges |
|
|
| Interest on long-term debt |
116
|
106
|
| Interest expense – related parties |
3
|
0
|
| Other interest expense |
19
|
16
|
| Allowance for borrowed funds used during construction |
(1)
|
(1)
|
| Total interest charges |
137
|
121
|
| Income Before Income Taxes |
270
|
261
|
| Income Tax Expense |
27
|
48
|
| Net Income |
$ 243
|
$ 213
|
| Basic earnings per average common share (in dollars per share) |
$ 0.86
|
$ 0.75
|
| Diluted earnings per average common share (in dollars per share) |
$ 0.85
|
$ 0.75
|
| Consumers Energy Company |
|
|
| Operating Revenue |
$ 1,744
|
$ 1,943
|
| Operating Expenses |
|
|
| Fuel for electric generation |
79
|
106
|
| Purchased and interchange power |
347
|
374
|
| Purchased power – related parties |
18
|
18
|
| Cost of gas sold |
270
|
401
|
| Maintenance and other operating expenses |
278
|
319
|
| Depreciation and amortization |
312
|
294
|
| General taxes |
111
|
103
|
| Total operating expenses |
1,415
|
1,615
|
| Operating Income |
329
|
328
|
| Other Income (Expense) |
|
|
| Interest income |
1
|
1
|
| Interest and dividend income – related parties |
1
|
1
|
| Allowance for equity funds used during construction |
1
|
2
|
| Nonoperating retirement benefits, net |
29
|
21
|
| Other income |
0
|
1
|
| Other expense |
(3)
|
(3)
|
| Total other income |
29
|
23
|
| Interest Charges |
|
|
| Interest on long-term debt |
74
|
69
|
| Interest expense – related parties |
3
|
0
|
| Other interest expense |
3
|
3
|
| Allowance for borrowed funds used during construction |
(1)
|
(1)
|
| Total interest charges |
79
|
71
|
| Income Before Income Taxes |
279
|
280
|
| Income Tax Expense |
44
|
54
|
| Net Income |
235
|
226
|
| Purchased and interchange power |
|
|
| Operating Expenses |
|
|
| Cost of sales |
357
|
378
|
| Cost of gas sold |
|
|
| Operating Expenses |
|
|
| Cost of sales |
$ 273
|
$ 404
|