CONSUMERS ENERGY CO

For the period ended Dec 31, 2023. Filed Feb 8, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 8, 2024

CMS$69.78+0.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Balance Sheets

Consolidated Balance Sheets

ASSETS
In Millions
December 31	2023	2022
Current Assets
Cash and cash equivalents	$35	$43
Restricted cash and cash equivalents	21	17
Accounts receivable and accrued revenue, less allowance of $21 in 2023 and $27 in 2022	909	1,524
Accounts and notes receivable – related parties	11	10
Inventories at average cost
Gas in underground storage	587	840
Materials and supplies	257	206
Generating plant fuel stock	80	59
Deferred property taxes	426	384
Regulatory assets	203	57
Prepayments and other current assets	65	96
Total current assets	2,594	3,236
Plant, Property, and Equipment
Plant, property, and equipment, gross	31,723	29,342
Less accumulated depreciation and amortization	8,796	8,791
Plant, property, and equipment, net	22,927	20,551
Construction work in progress	845	994
Total plant, property, and equipment	23,772	21,545
Other Non-current Assets
Regulatory assets	3,683	3,595
Accounts receivable	28	29
Accounts and notes receivable – related parties	95	99
Postretirement benefits	1,367	1,126
Other	313	286
Total other non-current assets	5,486	5,135
Total Assets	$31,852	$29,916

LIABILITIES AND EQUITY
In Millions
December 31	2023	2022
Current Liabilities
Current portion of long-term debt and finance leases	$731	$1,000
Notes payable	93	20
Notes payable – related parties	—	75
Accounts payable	764	864
Accounts payable – related parties	13	15
Accrued rate refunds	54	—
Accrued interest	110	90
Accrued taxes	614	556
Regulatory liabilities	56	104
Other current liabilities	128	147
Total current liabilities	2,563	2,871
Non-current Liabilities
Long-term debt	10,037	9,192
Long-term debt – related parties	424	—
Non-current portion of finance leases	39	45
Regulatory liabilities	3,894	3,796
Postretirement benefits	77	79
Asset retirement obligations	739	722
Deferred investment tax credit	126	129
Deferred income taxes	2,789	2,585
Other non-current liabilities	364	342
Total non-current liabilities	18,489	16,890
Commitments and Contingencies (Notes 2 and 3)
Equity
Common stockholder’s equity
Common stock, authorized 125.0 shares; outstanding 84.1 shares in both periods	841	841
Other paid-in capital	7,759	7,284
Accumulated other comprehensive loss	(15)	(15)
Retained earnings	2,178	2,008
Total common stockholder’s equity	10,763	10,118
Cumulative preferred stock, $4.50 series, authorized 7.5 shares; outstanding 0.4 shares in both periods	37	37
Total equity	10,800	10,155
Total Liabilities and Equity	$31,852	$29,916

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.