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Plant, Property, and Equipment | 12 Months Ended
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Dec. 31, 2011
Plant, Property, and Equipment | 16: PLANT, PROPERTY, AND EQUIPMENT Presented in the following table are details of CMS Energy's and Consumers' plant, property, and equipment:
In Millions |
Years Ended December 31 |  | Estimated Depreciable Life in Years |  |  | 2011 |  |  | 2010 |
CMS ENERGY, INCLUDING CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |
Electric |  |  |  |  |  |  |  |  |  |  |  |
Generation |  |  | 18 – 85 |  |  |  | $ 3,936 |  |  |  | $ 3,812 |
Distribution |  |  | 12 – 75 |  |  |  | 5,538 |  |  |  | 5,250 |
Other |  |  | 7– 40 |  |  |  | 651 |  |  |  | 609 |
Capital and finance leases |  |  |  |  |  |  | 275 |  |  |  | 273 |
Gas |  |  |  |  |  |  |  |  |  |  |  |
Underground storage facilities 1 |  |  | 30– 65 |  |  |  | 322 |  |  |  | 311 |
Transmission |  |  | 13– 75 |  |  |  | 722 |  |  |  | 713 |
Distribution |  |  | 30– 80 |  |  |  | 2,754 |  |  |  | 2,654 |
Other |  |  | 5– 50 |  |  |  | 403 |  |  |  | 380 |
Capital leases |  |  |  |  |  |  | 5 |  |  |  | 5 |
Enterprises |  |  |  |  |  |  |  |  |  |  |  |
Independent power production |  |  | 3– 30 |  |  |  | 89 |  |  |  | 85 |
Other |  |  | 3– 40 |  |  |  | 20 |  |  |  | 17 |
Other |  |  | 1– 51 |  |  |  | 36 |  |  |  | 36 |
Construction work in progress |  |  |  |  |  |  | 783 |  |  |  | 570 |
Less accumulated depreciation and amortization |  |  |  |  |  |  | 4,901 |  |  |  | 4,646 |
Net plant, property, and equipment 2 |  |  |  |  |  |  | $ 10,633 |  |  |  | $ 10,069 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |
Electric |  |  |  |  |  |  |  |  |  |  |  |
Generation |  |  | 18 – 85 |  |  |  | $ 3,936 |  |  |  | $3,812 |
Distribution |  |  | 12 – 75 |  |  |  | 5,538 |  |  |  | 5,250 |
Other |  |  | 7 – 40 |  |  |  | 651 |  |  |  | 609 |
Capital and finance leases |  |  |  |  |  |  | 275 |  |  |  | 273 |
Gas |  |  |  |  |  |  |  |  |  |  |  |
Underground storage facilities 1 |  |  | 30 – 65 |  |  |  | 322 |  |  |  | 311 |
Transmission |  |  | 13 – 75 |  |  |  | 722 |  |  |  | 713 |
Distribution |  |  | 30 – 80 |  |  |  | 2,754 |  |  |  | 2,654 |
Other |  |  | 5 – 50 |  |  |  | 403 |  |  |  | 380 |
Capital leases |  |  |  |  |  |  | 5 |  |  |  | 5 |
Other non-utility property |  |  | 8 – 51 |  |  |  | 15 |  |  |  | 15 |
Construction work in progress |  |  |  |  |  |  | 782 |  |  |  | 566 |
Less accumulated depreciation and amortization |  |  |  |  |  |  | 4,846 |  |  |  | 4,593 |
Net plant, property, and equipment 2 |  |  |  |  |  |  | $ 10,557 |  |  |  | $ 9,995 |
1 | Underground storage includes base natural gas of $26 million at December 31, 2011 and 2010. Base natural gas is not subject to depreciation.
2 | For the year ended December 31, 2011, utility plant additions were $700 million and utility plant retirements were $104 million. For the year ended December 31, 2010, utility plant additions were $783 million and utility plant retirements were $85 million.
Presented in the following table is further detail on changes in Consumers' capital and finance leases:
In Millions |
Years Ended December 31 |  | 2011 |  |  | 2010 |
CONSUMERS |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | $ 278 |  |  |  | $ 306 |
Additions |  |  | 4 |  |  |  | 15 |
Net retirements and other adjustments |  |  | (2 | ) |  |  | (43 | )
Balance at end of period |  |  | $ 280 |  |  |  | $ 278 |
Capital and finance leases presented are gross amounts. Accumulated amortization of capital and finance leases was $87 million at December 31, 2011 and $65 million at December 31, 2010 for Consumers. Presented in the following table is further detail on CMS Energy's and Consumers' accumulated depreciation and amortization:
In Millions |
Years Ended December 31 |  | 2011 |  |  | 2010 |
CMS ENERGY, INCLUDING CONSUMERS |  |  |  |  |  |  |  |
Utility plant assets |  |  | $ 4,844 |  |  |  | $ 4,592 |
Non-utility plant assets |  |  | 57 |  |  |  | 54 |
CONSUMERS |  |  |  |  |  |  |  |
Utility plant assets |  |  | $ 4,844 |  |  |  | $ 4,592 |
Non-utility plant assets |  |  | 2 |  |  |  | 1 |
Maintenance and Depreciation: CMS Energy and Consumers record property repairs and minor property replacement as maintenance expense. CMS Energy and Consumers record planned major maintenance activities as operating expense unless the cost represents the acquisition of additional long-lived assets or the replacement of an existing long-lived asset. Consumers depreciates utility property on an asset-group basis, in which it applies a single MPSC-approved depreciation rate to the gross investment in a particular class of property within the electric and gas segments. Consumers performs depreciation studies periodically to determine appropriate group lives. Presented in the following table are the composite depreciation rates for Consumers' segment properties:
Years Ended December 31 |  | 2011 |  |  | 2010 |  |  | 2009 |
Electric utility property |  |  | 3.0 | % |  |  | 3.0 | % |  |  | 3.0 | %
Gas utility property |  |  | 2.9 | % |  |  | 2.9 | % |  |  | 2.9 | %
Other property |  |  | 7.4 | % |  |  | 7.4 | % |  |  | 7.6 | %
CMS Energy and Consumers record plant, property, and equipment at original cost when placed into service. The cost includes labor, material, applicable taxes, overhead such as pension and other benefits, and AFUDC, if applicable. Consumers' plant, property, and equipment is generally recoverable through its general rate making process. For additional details see Note 6, Regulatory Matters. When utility property is retired or otherwise disposed of in the ordinary course of business, Consumers records the original cost to accumulated depreciation, along with associated cost of removal, net of salvage. CMS Energy and Consumers recognize gains or losses on the retirement or disposal of non-regulated assets in income. Cost of removal collected from customers, but not spent, is recorded as a regulatory liability. When utility property is retired or otherwise disposed of in the ordinary course of business, Consumers records the original cost to accumulated depreciation, along with associated cost of removal, net of salvage. CMS Energy and Consumers recognize gains or losses on the retirement or disposal of non-regulated assets in income. Consumers records cost of removal collected from customers, but not spent, as a regulatory liability. Consumers capitalizes AFUDC on regulated major construction projects, except pollution control facilities on its fossil-fueled power plants. AFUDC represents the estimated cost of debt and authorized return-on-equity funds used to finance construction additions. Consumers records the offsetting credit as a reduction of interest for the amount representing the borrowed funds component and as other income for the equity funds component on the consolidated statements of income. When construction is completed and the property is placed in service, Consumers depreciates and recovers the capitalized AFUDC from customers over the life of the related asset. Presented in the following table are Consumers' composite AFUDC capitalization rates:
Years Ended December 31 |  | 2011 |  |  | 2010 |  |  | 2009 |
AFUDC capitalization rate |  |  | 7.6 | % |  |  | 7.6 | % |  |  | 7.6 | %
CMS Energy and Consumers capitalize the purchase and development of internal-use computer software. These costs are expensed evenly over the estimated useful life of the internal-use computer software. If computer software is integral to computer hardware, then its cost is capitalized and depreciated with the hardware. The types of costs capitalized are consistent for all periods presented by the financial statements. Intangible Assets: Included in net plant, property, and equipment are intangible assets. Presented in the following table are CMS Energy's and Consumers' intangible assets:
In Millions |
Years Ended December 31 |  |  |  |  | 2011 |  |  | 2010 |
Description |  | Amortization Life in years |  |  | Gross Cost 1 |  |  | Accumulated Amortization |  |  | Gross Cost 1 |  |  | Accumulated Amortization |
CMS ENERGY, INCLUDING CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |
Software development |  |  | 3– 15 |  |  |  | $ 361 |  |  |  | $ 142 |  |  |  | $ 323 |  |  |  | $ 125 |
Plant acquisition adjustments |  |  | 40 – 46 |  |  |  | 214 |  |  |  | 22 |  |  |  | 213 |  |  |  | 16 |
Rights of way |  |  | 50 – 75 |  |  |  | 128 |  |  |  | 38 |  |  |  | 140 |  |  |  | 37 |
Leasehold improvements |  |  | various | 2 |  |  | 11 |  |  |  | 9 |  |  |  | 13 |  |  |  | 9 |
Franchises and consents |  |  | 5– 30 |  |  |  | 15 |  |  |  | 7 |  |  |  | 15 |  |  |  | 6 |
Other intangibles |  |  | various |  |  |  | 19 |  |  |  | 14 |  |  |  | 20 |  |  |  | 14 |
Total |  |  |  |  |  |  | $ 748 |  |  |  | $ 232 |  |  |  | $ 724 |  |  |  | $ 207 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Software development |  |  | 3 – 15 |  |  |  | $ 360 |  |  |  | $ 141 |  |  |  | $ 323 |  |  |  | $ 125 |
Plant acquisition adjustments |  |  | 40 – 46 |  |  |  | 214 |  |  |  | 22 |  |  |  | 213 |  |  |  | 16 |
Rights of way |  |  | 50 – 75 |  |  |  | 128 |  |  |  | 38 |  |  |  | 140 |  |  |  | 37 |
Leasehold improvements |  |  | various | 2 |  |  | 11 |  |  |  | 9 |  |  |  | 13 |  |  |  | 9 |
Franchises and consents |  |  | 5 – 30 |  |  |  | 15 |  |  |  | 7 |  |  |  | 15 |  |  |  | 6 |
Other intangibles |  |  | various |  |  |  | 18 |  |  |  | 14 |  |  |  | 18 |  |  |  | 14 |
Total |  |  |  |  |  |  | $ 746 |  |  |  | $ 231 |  |  |  | $ 722 |  |  |  | $ 207 |
1 | Net intangible asset additions for Consumers' utility plant were $23 million during 2011 and $25 million during 2010.
2 | Leasehold improvements are amortized over the life of the lease, which may change whenever the lease is renewed or extended.
Presented in the following table is CMS Energy's and Consumers' amortization expense related to intangible assets:
In Millions |
|  | CMS Energy, including Consumers |  |  | Consumers |
Years Ended December 31 |  | Total Amortization Expense |  |  | Software Amortization Expense |  |  | Total Amortization Expense |  |  | Software Amortization Expense |
2011 |  |  | $ 32 |  |  |  | $ 24 |  |  |  | $ 32 |  |  |  | $ 24 |
2010 |  |  | 28 |  |  |  | 19 |  |  |  | 27 |  |  |  | 19 |
2009 |  |  | 30 |  |  |  | 22 |  |  |  | 30 |  |  |  | 22 |
Amortization of intangible assets is expected to range between $39 million and $50 million per year over the next five years. JOINTLY OWNED REGULATED UTILITY FACILITIES Presented in the following table are Consumers' investments in jointly owned regulated utility facilities at December 31, 2011:
In Millions, Except Ownership Share |
|  | Campbell Unit 3 |  |  | Ludington |  |  | Distribution |
Ownership share |  |  | 93.3 | % |  |  | 51.0 | % |  |  | various |
Utility plant in service |  |  | $ 1,059 |  |  |  | $ 175 |  |  |  | $ 168 |
Accumulated depreciation |  |  | (430 | ) |  |  | (118 | ) |  |  | (46 | )
Construction work-in-progress |  |  | 55 |  |  |  | 43 |  |  |  | 7 |
Net investment |  |  | $ 684 |  |  |  | $ 100 |  |  |  | $ 129 |
Consumers includes its share of the direct expenses of the jointly owned plants in operating expenses. Consumers shares operation, maintenance, and other expenses of these jointly owned utility facilities in proportion to each participant's undivided ownership interest. Consumers is required to provide only its share of financing for the jointly owned utility facilities.
Consumers Energy Company [Member] |
Plant, Property, and Equipment | 16: PLANT, PROPERTY, AND EQUIPMENT Presented in the following table are details of CMS Energy's and Consumers' plant, property, and equipment:
In Millions |
Years Ended December 31 |  | Estimated Depreciable Life in Years |  |  | 2011 |  |  | 2010 |
CMS ENERGY, INCLUDING CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |
Electric |  |  |  |  |  |  |  |  |  |  |  |
Generation |  |  | 18 – 85 |  |  |  | $ 3,936 |  |  |  | $ 3,812 |
Distribution |  |  | 12 – 75 |  |  |  | 5,538 |  |  |  | 5,250 |
Other |  |  | 7– 40 |  |  |  | 651 |  |  |  | 609 |
Capital and finance leases |  |  |  |  |  |  | 275 |  |  |  | 273 |
Gas |  |  |  |  |  |  |  |  |  |  |  |
Underground storage facilities 1 |  |  | 30– 65 |  |  |  | 322 |  |  |  | 311 |
Transmission |  |  | 13– 75 |  |  |  | 722 |  |  |  | 713 |
Distribution |  |  | 30– 80 |  |  |  | 2,754 |  |  |  | 2,654 |
Other |  |  | 5– 50 |  |  |  | 403 |  |  |  | 380 |
Capital leases |  |  |  |  |  |  | 5 |  |  |  | 5 |
Enterprises |  |  |  |  |  |  |  |  |  |  |  |
Independent power production |  |  | 3 – 30 |  |  |  | 89 |  |  |  | 85 |
Other |  |  | 3 – 40 |  |  |  | 20 |  |  |  | 17 |
Other |  |  | 1– 51 |  |  |  | 36 |  |  |  | 36 |
Construction work in progress |  |  |  |  |  |  | 783 |  |  |  | 570 |
Less accumulated depreciation and amortization |  |  |  |  |  |  | 4,901 |  |  |  | 4,646 |
Net plant, property, and equipment 2 |  |  |  |  |  |  | $ 10,633 |  |  |  | $ 10,069 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |
Electric |  |  |  |  |  |  |  |  |  |  |  |
Generation |  |  | 18– 85 |  |  |  | $ 3,936 |  |  |  | $3,812 |
Distribution |  |  | 12– 75 |  |  |  | 5,538 |  |  |  | 5,250 |
Other |  |  | 7– 40 |  |  |  | 651 |  |  |  | 609 |
Capital and finance leases |  |  |  |  |  |  | 275 |  |  |  | 273 |
Gas |  |  |  |  |  |  |  |  |  |  |  |
Underground storage facilities 1 |  |  | 30– 65 |  |  |  | 322 |  |  |  | 311 |
Transmission |  |  | 13– 75 |  |  |  | 722 |  |  |  | 713 |
Distribution |  |  | 30– 80 |  |  |  | 2,754 |  |  |  | 2,654 |
Other |  |  | 5– 50 |  |  |  | 403 |  |  |  | 380 |
Capital leases |  |  |  |  |  |  | 5 |  |  |  | 5 |
Other non-utility property |  |  | 8– 51 |  |  |  | 15 |  |  |  | 15 |
Construction work in progress |  |  |  |  |  |  | 782 |  |  |  | 566 |
Less accumulated depreciation and amortization |  |  |  |  |  |  | 4,846 |  |  |  | 4,593 |
Net plant, property, and equipment 2 |  |  |  |  |  |  | $ 10,557 |  |  |  | $ 9,995 |
1 | Underground storage includes base natural gas of $26 million at December 31, 2011 and 2010. Base natural gas is not subject to depreciation.
2 | For the year ended December 31, 2011, utility plant additions were $700 million and utility plant retirements were $104 million. For the year ended December 31, 2010, utility plant additions were $783 million and utility plant retirements were $85 million.
Presented in the following table is further detail on changes in Consumers' capital and finance leases:
In Millions |
Years Ended December 31 |  | 2011 |  |  | 2010 |
CONSUMERS |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | $ 278 |  |  |  | $ 306 |
Additions |  |  | 4 |  |  |  | 15 |
Net retirements and other adjustments |  |  | (2 | ) |  |  | (43 | )
Balance at end of period |  |  | $ 280 |  |  |  | $ 278 |
Capital and finance leases presented are gross amounts. Accumulated amortization of capital and finance leases was $87 million at December 31, 2011 and $65 million at December 31, 2010 for Consumers. Presented in the following table is further detail on CMS Energy's and Consumers' accumulated depreciation and amortization:
In Millions |
Years Ended December 31 |  | 2011 |  |  | 2010 |
CMS ENERGY, INCLUDING CONSUMERS |  |  |  |  |  |  |  |
Utility plant assets |  |  | $ 4,844 |  |  |  | $ 4,592 |
Non-utility plant assets |  |  | 57 |  |  |  | 54 |
CONSUMERS |  |  |  |  |  |  |  |
Utility plant assets |  |  | $ 4,844 |  |  |  | $ 4,592 |
Non-utility plant assets |  |  | 2 |  |  |  | 1 |
Maintenance and Depreciation: CMS Energy and Consumers record property repairs and minor property replacement as maintenance expense. CMS Energy and Consumers record planned major maintenance activities as operating expense unless the cost represents the acquisition of additional long-lived assets or the replacement of an existing long-lived asset. Consumers depreciates utility property on an asset-group basis, in which it applies a single MPSC-approved depreciation rate to the gross investment in a particular class of property within the electric and gas segments. Consumers performs depreciation studies periodically to determine appropriate group lives. Presented in the following table are the composite depreciation rates for Consumers' segment properties:
Years Ended December 31 |  | 2011 |  |  | 2010 |  |  | 2009 |
Electric utility property |  |  | 3.0 | % |  |  | 3.0 | % |  |  | 3.0 | %
Gas utility property |  |  | 2.9 | % |  |  | 2.9 | % |  |  | 2.9 | %
Other property |  |  | 7.4 | % |  |  | 7.4 | % |  |  | 7.6 | %
CMS Energy and Consumers record plant, property, and equipment at original cost when placed into service. The cost includes labor, material, applicable taxes, overhead such as pension and other benefits, and AFUDC, if applicable. Consumers' plant, property, and equipment is generally recoverable through its general rate making process. For additional details see Note 6, Regulatory Matters. When utility property is retired or otherwise disposed of in the ordinary course of business, Consumers records the original cost to accumulated depreciation, along with associated cost of removal, net of salvage. CMS Energy and Consumers recognize gains or losses on the retirement or disposal of non-regulated assets in income. Cost of removal collected from customers, but not spent, is recorded as a regulatory liability. When utility property is retired or otherwise disposed of in the ordinary course of business, Consumers records the original cost to accumulated depreciation, along with associated cost of removal, net of salvage. CMS Energy and Consumers recognize gains or losses on the retirement or disposal of non-regulated assets in income. Consumers records cost of removal collected from customers, but not spent, as a regulatory liability. Consumers capitalizes AFUDC on regulated major construction projects, except pollution control facilities on its fossil-fueled power plants. AFUDC represents the estimated cost of debt and authorized return-on-equity funds used to finance construction additions. Consumers records the offsetting credit as a reduction of interest for the amount representing the borrowed funds component and as other income for the equity funds component on the consolidated statements of income. When construction is completed and the property is placed in service, Consumers depreciates and recovers the capitalized AFUDC from customers over the life of the related asset. Presented in the following table are Consumers' composite AFUDC capitalization rates:
Years Ended December 31 |  | 2011 |  |  | 2010 |  |  | 2009 |
AFUDC capitalization rate |  |  | 7.6 | % |  |  | 7.6 | % |  |  | 7.6 | %
CMS Energy and Consumers capitalize the purchase and development of internal-use computer software. These costs are expensed evenly over the estimated useful life of the internal-use computer software. If computer software is integral to computer hardware, then its cost is capitalized and depreciated with the hardware. The types of costs capitalized are consistent for all periods presented by the financial statements. Intangible Assets: Included in net plant, property, and equipment are intangible assets. Presented in the following table are CMS Energy's and Consumers' intangible assets:
In Millions |
Years Ended December 31 |  |  |  |  | 2011 |  |  | 2010 |
Description |  | Amortization Life in years |  |  | Gross Cost 1 |  |  | Accumulated Amortization |  |  | Gross Cost 1 |  |  | Accumulated Amortization |
CMS ENERGY, INCLUDING CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |
Software development |  |  | 3 – 15 |  |  |  | $ 361 |  |  |  | $ 142 |  |  |  | $ 323 |  |  |  | $ 125 |
Plant acquisition adjustments |  |  | 40 – 46 |  |  |  | 214 |  |  |  | 22 |  |  |  | 213 |  |  |  | 16 |
Rights of way |  |  | 50 – 75 |  |  |  | 128 |  |  |  | 38 |  |  |  | 140 |  |  |  | 37 |
Leasehold improvements |  |  | various | 2 |  |  | 11 |  |  |  | 9 |  |  |  | 13 |  |  |  | 9 |
Franchises and consents |  |  | 5 – 30 |  |  |  | 15 |  |  |  | 7 |  |  |  | 15 |  |  |  | 6 |
Other intangibles |  |  | various |  |  |  | 19 |  |  |  | 14 |  |  |  | 20 |  |  |  | 14 |
Total |  |  |  |  |  |  | $ 748 |  |  |  | $ 232 |  |  |  | $ 724 |  |  |  | $ 207 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Software development |  |  | 3– 15 |  |  |  | $ 360 |  |  |  | $ 141 |  |  |  | $ 323 |  |  |  | $ 125 |
Plant acquisition adjustments |  |  | 40 – 46 |  |  |  | 214 |  |  |  | 22 |  |  |  | 213 |  |  |  | 16 |
Rights of way |  |  | 50– 75 |  |  |  | 128 |  |  |  | 38 |  |  |  | 140 |  |  |  | 37 |
Leasehold improvements |  |  | various | 2 |  |  | 11 |  |  |  | 9 |  |  |  | 13 |  |  |  | 9 |
Franchises and consents |  |  | 5– 30 |  |  |  | 15 |  |  |  | 7 |  |  |  | 15 |  |  |  | 6 |
Other intangibles |  |  | various |  |  |  | 18 |  |  |  | 14 |  |  |  | 18 |  |  |  | 14 |
Total |  |  |  |  |  |  | $ 746 |  |  |  | $ 231 |  |  |  | $ 722 |  |  |  | $ 207 |
1 | Net intangible asset additions for Consumers' utility plant were $23 million during 2011 and $25 million during 2010.
2 | Leasehold improvements are amortized over the life of the lease, which may change whenever the lease is renewed or extended.
Presented in the following table is CMS Energy's and Consumers' amortization expense related to intangible assets:
In Millions |
|  | CMS Energy, including Consumers |  |  | Consumers |
Years Ended December 31 |  | Total Amortization Expense |  |  | Software Amortization Expense |  |  | Total Amortization Expense |  |  | Software Amortization Expense |
2011 |  |  | $ 32 |  |  |  | $ 24 |  |  |  | $ 32 |  |  |  | $ 24 |
2010 |  |  | 28 |  |  |  | 19 |  |  |  | 27 |  |  |  | 19 |
2009 |  |  | 30 |  |  |  | 22 |  |  |  | 30 |  |  |  | 22 |
Amortization of intangible assets is expected to range between $39 million and $50 million per year over the next five years. JOINTLY OWNED REGULATED UTILITY FACILITIES Presented in the following table are Consumers' investments in jointly owned regulated utility facilities at December 31, 2011:
In Millions, Except Ownership Share |
|  | Campbell Unit 3 |  |  | Ludington |  |  | Distribution |
Ownership share |  |  | 93.3 | % |  |  | 51.0 | % |  |  | various |
Utility plant in service |  |  | $ 1,059 |  |  |  | $ 175 |  |  |  | $ 168 |
Accumulated depreciation |  |  | (430 | ) |  |  | (118 | ) |  |  | (46 | )
Construction work-in-progress |  |  | 55 |  |  |  | 43 |  |  |  | 7 |
Net investment |  |  | $ 684 |  |  |  | $ 100 |  |  |  | $ 129 |
Consumers includes its share of the direct expenses of the jointly owned plants in operating expenses. Consumers shares operation, maintenance, and other expenses of these jointly owned utility facilities in proportion to each participant's undivided ownership interest. Consumers is required to provide only its share of financing for the jointly owned utility facilities.

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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