CONSUMERS ENERGY CO
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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FY2023 · Filed Feb 8, 2024
CMS$69.78+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| In Millions | |||
|---|---|---|---|
| Years Ended December 31 | 2023 | 2022 | 2021 |
| Cash Flows from Operating Activities | |||
| Net income | $867 | $945 | $868 |
| Adjustments to reconcile net income to net cash provided by operating activities | |||
| Depreciation and amortization | 1,137 | 1,088 | 1,077 |
| Deferred income taxes and investment tax credits | 156 | 134 | 154 |
| Bad debt expense | 34 | 50 | 22 |
| Postretirement benefits contributions | (9) | (9) | (9) |
| Other non‑cash operating activities and reconciling adjustments | (123) | (87) | (64) |
| Changes in assets and liabilities | |||
| Accounts and notes receivable and accrued revenue | 219 | (660) | (103) |
| Inventories | 186 | (447) | (90) |
| Accounts payable and accrued rate refunds | (127) | (9) | 140 |
| Other current assets and liabilities | (35) | 18 | 27 |
| Other non-current assets and liabilities | 125 | (29) | (40) |
| Net cash provided by operating activities | 2,430 | 994 | 1,982 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (excludes assets placed under finance lease) | (2,248) | (2,239) | (2,052) |
| Covert Generating Station acquisition | (812) | — | — |
| Cost to retire property and other investing activities | (141) | (105) | (133) |
| Net cash used in investing activities | (3,201) | (2,344) | (2,185) |
| Cash Flows from Financing Activities | |||
| Proceeds from issuance of debt | 2,666 | 1,799 | 335 |
| Retirement of debt | (1,654) | (28) | (27) |
| Increase in notes payable | 73 | 20 | — |
| Increase (decrease) in notes payable – related parties | (75) | (317) | 85 |
| Stockholder contribution | 475 | 685 | 575 |
| Payment of dividends on common and preferred stock | (697) | (771) | (724) |
| Other financing costs | (21) | (22) | (32) |
| Net cash provided by financing activities | 767 | 1,366 | 212 |
| Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts | (4) | 16 | 9 |
| Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period | 60 | 44 | 35 |
| Cash and Cash Equivalents, Including Restricted Amounts, End of Period | $56 | $60 | $44 |
| In Millions | |||
|---|---|---|---|
| Years Ended December 31 | 2023 | 2022 | 2021 |
| Other Cash Flow Activities and Non‑cash Investing and Financing Activities | |||
| Cash transactions | |||
| Interest paid (net of amounts capitalized) | $417 | $309 | $298 |
| Income taxes paid (refunds received), net | 31 | (2) | (10) |
| Non‑cash transactions | |||
| Capital expenditures not paid | $264 | $210 | $192 |
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