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Financings (Tables) | 3 Months Ended
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Mar. 31, 2012
Summary of Major Long-Term Debt Transactions |
|  | Principal (In Millions) |  |  | Interest Rate |  |  | Issue/Retirement Date |  |  | Maturity Date |
Debt Issuances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CMS ENERGY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior notes |  | $ | 300 |  |  |  | 5.05% |  |  |  | March 2012 |  |  |  | March 2022 |
Term loan facility 1 ,3 |  |  | 30 |  |  |  | variable |  |  |  | February 2012 |  |  |  | December 2016 |
Total |  | $ | 330 |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Retirements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CMS ENERGY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingently convertible senior notes 2 |  | $ | 73 |  |  |  | 2.875% |  |  |  | January 2012 |  |  |  | December 2024 |
Trust Preferred Securities 4 |  |  | 29 |  |  |  | 7.75% |  |  |  | February 2012 |  |  |  | July 2027 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FMB |  |  | 300 |  |  |  | 5.00% |  |  |  | February 2012 |  |  |  | February 2012 |
Total |  | $ | 402 |  |  |  |  |  |  |  |  |  |  |  |  |
| 1 | In December 2011, CMS Energy entered into a $180 million term loan credit agreement that provides for delayed draws through July 20, 2012. Outstanding borrowings will bear interest at an annual interest rate of LIBOR plus 2.5 percent.
| 2 | CMS Energy's contingently convertible notes. See the "Contingently Convertible Securities" section in this Note for further discussion of the conversions.
| 3 | CMS Energy used these proceeds to retire the 7.75 percent Trust Preferred Securities.
| 4 | In January 2012, CMS Energy called all of its outstanding Trust Preferred Securities.
Revolving Credit Facilities |
|  |  |  |  |  |  |  |  |  |  | In Millions |
Expiration Date |  | Amount of Facility |  |  | Amount Borrowed |  |  | Letters of Credit Outstanding |  |  | Amount Available |
CMS ENERGY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2016 1 |  | $ | 550 |  |  | $ | - |  |  | $ | 3 |  |  | $ | 547 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2016 2 |  | $ | 500 |  |  | $ | - |  |  | $ | 1 |  |  | $ | 499 |
August 9, 2013 2,3 |  |  | 150 |  |  |  | - |  |  |  | - |  |  |  | 150 |
September 9, 2014 2 |  |  | 30 |  |  |  | - |  |  |  | 30 |  |  |  | - |
| 1 | Obligations under this facility are secured by Consumers common stock. CMS Energy's average borrowings during the three months ended March 31, 2012 totaled $20 million, with a weighted-average annual interest rate of 2.28 percent, representing LIBOR plus 2.00 percent.
| 2 | Obligations under this facility are secured by FMBs of Consumers.
| 3 | In April 2012, the expiration date was extended to April 2017.
Contingently Convertible Securities |
Security |  | Maturity |  |  | Outstanding (In Millions) |  |  | Adjusted Conversion Price |  |  | Adjusted Trigger Price |
2.875% senior notes |  |  | 2024 |  |  | $ | 153 |  |  | $ | 12.40 |  |  | $ | 14.88 |
5.50% senior notes |  |  | 2029 |  |  |  | 172 |  |  |  | 14.08 |  |  |  | 18.31 |
Conversions of Contingently Convertible Securities Details |
Series |  | Conversion Date |  |  | Principal Converted (In Millions) |  |  | Conversion Value per $1,000 of principal |  |  | Shares of Common Stock Issued on Settlement |  |  | Cash Paid on Settlement (In Millions) |
2.875% senior notes due 2024 |  |  | January 2012 |  |  |  | 73 |  |  |  | 1,738.99 |  |  |  | 2,464,138 |  |  |  | 73 |
Consumers Energy Company [Member] |
Summary of Major Long-Term Debt Transactions |
|  | Principal (In Millions) |  |  | Interest Rate |  |  | Issue/Retirement Date |  |  | Maturity Date |
Debt Issuances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CMS ENERGY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior notes |  | $ | 300 |  |  |  | 5.05% |  |  |  | March 2012 |  |  |  | March 2022 |
Term loan facility 1 ,3 |  |  | 30 |  |  |  | variable |  |  |  | February 2012 |  |  |  | December 2016 |
Total |  | $ | 330 |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Retirements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CMS ENERGY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingently convertible senior notes 2 |  | $ | 73 |  |  |  | 2.875% |  |  |  | January 2012 |  |  |  | December 2024 |
Trust Preferred Securities 4 |  |  | 29 |  |  |  | 7.75% |  |  |  | February 2012 |  |  |  | July 2027 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FMB |  |  | 300 |  |  |  | 5.00% |  |  |  | February 2012 |  |  |  | February 2012 |
Total |  | $ | 402 |  |  |  |  |  |  |  |  |  |  |  |  |
| 1 | In December 2011, CMS Energy entered into a $180 million term loan credit agreement that provides for delayed draws through July 20, 2012. Outstanding borrowings will bear interest at an annual interest rate of LIBOR plus 2.5 percent.
| 2 | CMS Energy's contingently convertible notes. See the "Contingently Convertible Securities" section in this Note for further discussion of the conversions.
| 3 | CMS Energy used these proceeds to retire the 7.75 percent Trust Preferred Securities.
| 4 | In January 2012, CMS Energy called all of its outstanding Trust Preferred Securities.
Revolving Credit Facilities |
|  |  |  |  |  |  |  |  |  |  | In Millions |
Expiration Date |  | Amount of Facility |  |  | Amount Borrowed |  |  | Letters of Credit Outstanding |  |  | Amount Available |
CMS ENERGY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2016 1 |  | $ | 550 |  |  | $ | - |  |  | $ | 3 |  |  | $ | 547 |
CONSUMERS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2016 2 |  | $ | 500 |  |  | $ | - |  |  | $ | 1 |  |  | $ | 499 |
August 9, 2013 2,3 |  |  | 150 |  |  |  | - |  |  |  | - |  |  |  | 150 |
September 9, 2014 2 |  |  | 30 |  |  |  | - |  |  |  | 30 |  |  |  | - |
| 1 | Obligations under this facility are secured by Consumers common stock. CMS Energy's average borrowings during the three months ended March 31, 2012 totaled $20 million, with a weighted-average annual interest rate of 2.28 percent, representing LIBOR plus 2.00 percent.
| 2 | Obligations under this facility are secured by FMBs of Consumers.
| 3 | In April 2012, the expiration date was extended to April 2017.

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- Definition Tabular disclosure of information on an original debt issue that has been converted in a noncash (or part noncash) transaction during the accounting period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. The information may be presented entirely or partially in this block of text or in the associated elements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 32 -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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 + Details
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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 4 -Section 08 -Paragraph f Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 + Details
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