CONSUMERS ENERGY CO
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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Sep 30, 2024 · Filed Oct 31, 2024
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5: Financial Instruments
Presented in the following table are the carrying amounts and fair values, by level within the fair value hierarchy, of CMS Energy’s and Consumers’ financial instruments that are not recorded at fair value. The table excludes cash, cash equivalents, short-term financial instruments, and trade accounts receivable and payable whose carrying amounts approximate their fair values. For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 4, Fair Value Measurements.
| In Millions | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 30, 2024 · December 31, 2023 | ||||||||||||||
| Carrying Amount · Fair Value · Carrying Amount · Fair Value | ||||||||||||||
| Total · Level · Total · Level | ||||||||||||||
| 1 | 2 | 3 | 1 | 2 | 3 | |||||||||
| CMS Energy, including Consumers | ||||||||||||||
| Assets | ||||||||||||||
| Long-term receivables1 | $9 | $9 | $— | $— | $9 | $11 | $11 | $— | $— | $11 | ||||
| Liabilities | ||||||||||||||
| Long-term debt2 | 16,051 | 15,229 | 1,101 | 12,096 | 2,032 | 15,483 | 14,305 | 1,103 | 11,186 | 2,016 | ||||
| Long-term payables3 | 11 | 11 | — | — | 11 | 11 | 11 | — | — | 11 | ||||
| Consumers | ||||||||||||||
| Assets | ||||||||||||||
| Long-term receivables1 | $9 | $9 | $— | $— | $9 | $11 | $11 | $— | $— | $11 | ||||
| Notes receivable – related party4 | 95 | 95 | — | — | 95 | 97 | 97 | — | — | 97 | ||||
| Liabilities | ||||||||||||||
| Long-term debt5 | 11,427 | 10,619 | — | 8,587 | 2,032 | 10,762 | 9,757 | — | 7,741 | 2,016 | ||||
| Long-term debt – related party | 731 | 531 | — | 531 | — | 424 | 303 | — | 303 | — | ||||
| Long-term payables | 4 | 4 | — | — | 4 | 5 | 5 | — | — | 5 | ||||
1 Includes current portion of long-term accounts receivable and notes receivable of $4 million at September 30, 2024 and $6 million at December 31, 2023.
2 Includes current portion of long-term debt of $503 million at September 30, 2024 and $975 million at December 31, 2023.
3 Includes current portion of long-term payables of $1 million at September 30, 2024.
4 Includes current portion of notes receivable – related party of $7 million at September 30, 2024 and December 31, 2023.
5 Includes current portion of long-term debt of $503 million at September 30, 2024 and $725 million at December 31, 2023.
Notes receivable – related party represents Consumers’ portion of the DB SERP demand note payable issued by CMS Energy to the DB SERP rabbi trust. The demand note bears interest at an annual rate of 4.10 percent and has a maturity date of 2028.
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