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v3.23.2

Financings and Capitalization (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Instrument [Line Items] |
Schedule of Major Long-Term Debt Issuances and Retirements | Presented in the following table is a summary of major long-term debt issuances during the six months ended June 30, 2023:
| Principal (In Millions) | Interest Rate (%) | Issuance Date | Maturity Date
CMS Energy, parent only |  |  |  |  |
Convertible senior notes |  | $ | 800 |  | 3.375 |  | May 2023 | May 2028
Total CMS Energy, parent only |  | $ | 800 |  |  |  |
NorthStar Clean Energy, including subsidiaries |  |  |  |  |
Term loan facility 1 |  | $ | 85 |  | variable | February 2023 | December 2023
Total NorthStar Clean Energy, including subsidiaries |  | $ | 85 |  |  |  |
Consumers |  |  |  |  |
First mortgage bonds |  | $ | 425 |  | 4.650 |  | January 2023 | March 2028
First mortgage bonds |  | 700 |  | 4.625 |  | February 2023 | May 2033
First mortgage bonds |  | 115 |  | 5.240 |  | May 2023 | May 2026
First mortgage bonds |  | 50 |  | 5.070 |  | May 2023 | May 2029
First mortgage bonds |  | 95 |  | 5.170 |  | May 2023 | May 2032
First mortgage bonds |  | 140 |  | 5.380 |  | May 2023 | May 2037
Total Consumers |  | $ | 1,525 |  |  |  |
Total CMS Energy |  | $ | 2,410 |  |  |  |
1 In December 2022, a subsidiary of NorthStar Clean Energy entered into a $185 million unsecured term loan credit agreement. Under this credit agreement, a subsidiary of NorthStar Clean Energy borrowed $85 million in 2023. As of June 30, 2023, there was $185 million of loans outstanding bearing an interest rate of 6.102 percent under the unsecured term loan credit agreement. Presented in the following table is a summary of major long-term debt retirements during the six months ended June 30, 2023:
| Principal (In Millions) | Interest Rate (%) | Retirement Date | Maturity Date
Consumers |  |  |  |  |
Term loan facility |  | $ | 1,000 |  | variable | February 2023 | January 2024
First mortgage bonds |  | 300 |  | 0.350 | June 2023 | June 2023
In May 2023, CMS Energy purchased the following Consumers’ first mortgage bonds for $150 million:
| Principal (In Millions) | Interest Rate (%)
First mortgage bonds due 2052 |  | $ | 88 |  |  | 2.650 |
First mortgage bonds due 2060 |  | 150 |  |  | 2.500 |
Schedule of Revolving Credit Facilities | The following credit facilities with banks were available at June 30, 2023:
In Millions
Expiration Date | Amount of Facility | Amount Borrowed | Letters of Credit Outstanding | Amount Available
CMS Energy, parent only |  |  |  |  |  |  |  |
December 14, 2027 1 |  | $ | 550 |  |  | $ | — |  |  | $ | 21 |  |  | $ | 529 |
September 22, 2024 |  | 50 |  |  | — |  |  | 50 |  |  | — |
NorthStar Clean Energy, including subsidiaries |  |  |  |  |  |  |  |
September 25, 2025 2 |  | $ | 37 |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |
Consumers 3 |  |  |  |  |  |  |  |
December 14, 2027 |  | $ | 1,100 |  |  | $ | — |  |  | $ | 27 |  |  | $ | 1,073 |
November 18, 2024 |  | 250 |  |  | — |  |  | 27 |  |  | 223 |
1 There were no borrowings under this facility during the six months ended June 30, 2023. 2 This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 11, Variable Interest Entities. 3 Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the six months ended June 30, 2023.
Schedule of Forward Contracts | Presented in the following table are details of CMS Energy’s forward sales contracts under its equity offering program at June 30, 2023:
|  |  | Forward Price Per Share
Contract Date | Maturity Date | Number of Shares | Initial | June 30, 2023
August 3, 2022 | December 31, 2024 | 2,944,207 |  | $ | 67.59 |  |  | $ | 68.23 |
August 24, 2022 | December 31, 2024 | 1,677,938 |  | 69.46 |  |  | 70.18 |
August 29, 2022 | December 31, 2024 | 1,783,388 |  | 68.18 |  |  | 68.84 |
Consumers Energy Company |
Debt Instrument [Line Items] |
Schedule of Major Long-Term Debt Issuances and Retirements | Presented in the following table is a summary of major long-term debt issuances during the six months ended June 30, 2023:
| Principal (In Millions) | Interest Rate (%) | Issuance Date | Maturity Date
CMS Energy, parent only |  |  |  |  |
Convertible senior notes |  | $ | 800 |  | 3.375 |  | May 2023 | May 2028
Total CMS Energy, parent only |  | $ | 800 |  |  |  |
NorthStar Clean Energy, including subsidiaries |  |  |  |  |
Term loan facility 1 |  | $ | 85 |  | variable | February 2023 | December 2023
Total NorthStar Clean Energy, including subsidiaries |  | $ | 85 |  |  |  |
Consumers |  |  |  |  |
First mortgage bonds |  | $ | 425 |  | 4.650 |  | January 2023 | March 2028
First mortgage bonds |  | 700 |  | 4.625 |  | February 2023 | May 2033
First mortgage bonds |  | 115 |  | 5.240 |  | May 2023 | May 2026
First mortgage bonds |  | 50 |  | 5.070 |  | May 2023 | May 2029
First mortgage bonds |  | 95 |  | 5.170 |  | May 2023 | May 2032
First mortgage bonds |  | 140 |  | 5.380 |  | May 2023 | May 2037
Total Consumers |  | $ | 1,525 |  |  |  |
Total CMS Energy |  | $ | 2,410 |  |  |  |
1 In December 2022, a subsidiary of NorthStar Clean Energy entered into a $185 million unsecured term loan credit agreement. Under this credit agreement, a subsidiary of NorthStar Clean Energy borrowed $85 million in 2023. As of June 30, 2023, there was $185 million of loans outstanding bearing an interest rate of 6.102 percent under the unsecured term loan credit agreement. In May 2023, CMS Energy purchased the following Consumers’ first mortgage bonds for $150 million:
| Principal (In Millions) | Interest Rate (%)
First mortgage bonds due 2052 |  | $ | 88 |  |  | 2.650 |
First mortgage bonds due 2060 |  | 150 |  |  | 2.500 |
Schedule of Revolving Credit Facilities | The following credit facilities with banks were available at June 30, 2023:
In Millions
Expiration Date | Amount of Facility | Amount Borrowed | Letters of Credit Outstanding | Amount Available
CMS Energy, parent only |  |  |  |  |  |  |  |
December 14, 2027 1 |  | $ | 550 |  |  | $ | — |  |  | $ | 21 |  |  | $ | 529 |
September 22, 2024 |  | 50 |  |  | — |  |  | 50 |  |  | — |
NorthStar Clean Energy, including subsidiaries |  |  |  |  |  |  |  |
September 25, 2025 2 |  | $ | 37 |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |
Consumers 3 |  |  |  |  |  |  |  |
December 14, 2027 |  | $ | 1,100 |  |  | $ | — |  |  | $ | 27 |  |  | $ | 1,073 |
November 18, 2024 |  | 250 |  |  | — |  |  | 27 |  |  | 223 |
1 There were no borrowings under this facility during the six months ended June 30, 2023. 2 This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 11, Variable Interest Entities. 3 Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the six months ended June 30, 2023.

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