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Plant, Property, and Equipment (Tables) | 12 Months Ended
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Dec. 31, 2024
Public Utility, Property, Plant and Equipment [Line Items] |
Schedule of Property, Plant and Equipment | Presented in the following table are details of CMS Energy’s and Consumers’ plant, property, and equipment:
In Millions, Except as Noted
December 31 | Estimated Depreciable Life in Years | 2024 | 2023
CMS Energy, including Consumers |  |  |  |  |
Plant, property, and equipment, gross |  |  |  |  |
Consumers | 3 – 125 |  | $ | 33,434 |  |  | $ | 31,723 |
NorthStar Clean Energy |  |  |  |  |
Independent power production 1 | 3 – 40 |  | 1,452 |  |  | 1,387 |
Assets under finance leases 2 |  |  | 45 |  |  | 24 |
Other | 3 – 5 |  | 1 |  |  | 1 |
Plant, property, and equipment, gross |  |  | $ | 34,932 |  |  | $ | 33,135 |
Construction work in progress |  |  | 2,098 |  |  | 944 |
Accumulated depreciation and amortization |  |  | (9,569) |  |  | (9,007) |
Total plant, property, and equipment 3 |  |  | $ | 27,461 |  |  | $ | 25,072 |
Consumers |  |  |  |  |
Plant, property, and equipment, gross |  |  |  |  |
Electric |  |  |  |  |
Generation | 15 – 125 |  | $ | 6,576 |  |  | $ | 6,511 |
Distribution | 15 – 75 |  | 12,135 |  |  | 11,339 |
Other | 5 – 55 |  | 1,307 |  |  | 1,355 |
Assets under finance leases 2 |  |  | 119 |  |  | 97 |
Gas |  |  |  |  |
Distribution | 20 – 85 |  | 7,942 |  |  | 7,452 |
Transmission | 17 – 75 |  | 3,081 |  |  | 2,806 |
Underground storage facilities 4 | 29 – 75 |  | 1,405 |  |  | 1,295 |
Other | 5 – 55 |  | 828 |  |  | 815 |
Assets under finance leases 2 |  |  | 12 |  |  | 15 |
Other non-utility property | 3 – 51 |  | 29 |  |  | 38 |
Plant, property, and equipment, gross |  |  | $ | 33,434 |  |  | $ | 31,723 |
Construction work in progress |  |  | 1,766 |  |  | 845 |
Accumulated depreciation and amortization |  |  | (9,310) |  |  | (8,796) |
Total plant, property, and equipment 2 |  |  | $ | 25,890 |  |  | $ | 23,772 |
1 A portion of independent power production assets are leased to others under operating leases. For information regarding CMS Energy’s operating leases of owned assets, see Note 8, Leases. 2 For information regarding the amortization terms of CMS Energy’s and Consumers’ assets under finance leases, see Note 8, Leases. 3 Consumers’ plant additions were $2.1 billion for the year ended December 31, 2024 and $3.1 billion for the year ended December 31, 2023. Consumers’ plant retirements were $390 million for the year ended December 31, 2024 and $856 million for the year ended December 31, 2023. 4 Underground storage includes base natural gas of $26 million at December 31, 2024 and 2023. Base natural gas is not subject to depreciation.
Summary of Finite-Lived Intangible Assets by Major Class | Presented in the following table are details about Consumers’ intangible assets:
In Millions, Except as Noted
Description | Amortization Life in Years | December 31, 2024 |  | December 31, 2023
Gross Cost 1 | Accumulated Amortization |  | Gross Cost 1 | Accumulated Amortization
Consumers |  |  |  |  |  |  |  |  |  |
Software development | 3 – 15 |  | $ | 679 |  |  | $ | 481 |  |  |  | $ | 772 |  |  | $ | 543 |
Rights of way | 50 – 85 |  | 253 |  |  | 68 |  |  |  | 229 |  |  | 64 |
Franchises and consents | 5 – 50 |  | 16 |  |  | 11 |  |  |  | 16 |  |  | 11 |
Leasehold improvements | various 2 |  | 13 |  |  | 7 |  |  |  | 11 |  |  | 7 |
Other intangibles | various |  | 28 |  |  | 16 |  |  |  | 24 |  |  | 15 |
Total |  |  | $ | 989 |  |  | $ | 583 |  |  |  | $ | 1,052 |  |  | $ | 640 |
1 Consumers’ intangible asset additions were $90 million for the year ended December 31, 2024 and $80 million for the year ended December 31, 2023. Consumers’ intangible asset retirements were $153 million for the year ended December 31, 2024 and $142 million for the year ended December 31, 2023. 2 Leasehold improvements are amortized over the life of the lease, which may change whenever the lease is renewed or extended.
Summary of Accumulated Depreciation and Amortization | Presented in the following table are further details about CMS Energy’s and Consumers’ accumulated depreciation and amortization:
In Millions
Years Ended December 31 | 2024 | 2023
CMS Energy, including Consumers |  |  |  |
Utility plant assets |  | $ | 9,307 |  |  | $ | 8,790 |
Non-utility plant assets |  | 262 |  |  | 217 |
Consumers |  |  |  |
Utility plant assets |  | $ | 9,307 |  |  | $ | 8,790 |
Non-utility plant assets |  | 3 |  |  | 6 |
Summary of Depreciation and Amortization | Presented in the following table are the components of CMS Energy’s and Consumers’ depreciation and amortization expense:
In Millions
Years Ended December 31 | 2024 | 2023 | 2022
CMS Energy, including Consumers |  |  |  |  |  |
Depreciation expense – plant, property, and equipment |  | $ | 1,041 |  |  | $ | 1,050 |  |  | $ | 990 |
Amortization expense |  |  |  |  |  |
Software |  | 81 |  |  | 92 |  |  | 103 |
Other intangible assets |  | 5 |  |  | 5 |  |  | 5 |
Other regulatory assets |  | 2 |  |  | — |  |  | — |
Securitized regulatory assets |  | 111 |  |  | 33 |  |  | 28 |
Total depreciation and amortization expense |  | $ | 1,240 |  |  | $ | 1,180 |  |  | $ | 1,126 |
Consumers |  |  |  |  |  |
Depreciation expense – plant, property, and equipment |  | $ | 992 |  |  | $ | 1,007 |  |  | $ | 952 |
Amortization expense |  |  |  |  |  |
Software |  | 81 |  |  | 92 |  |  | 103 |
Other intangible assets |  | 5 |  |  | 5 |  |  | 5 |
Other regulatory assets |  | 2 |  |  | — |  |  | — |
Securitized regulatory assets |  | 111 |  |  | 33 |  |  | 28 |
Total depreciation and amortization expense |  | $ | 1,191 |  |  | $ | 1,137 |  |  | $ | 1,088 |
Schedule of Estimated Amortization Expense for Intangibles | Presented in the following table is Consumers’ estimated amortization expense on intangible assets for each of the next five years:
In Millions
| 2025 | 2026 | 2027 | 2028 | 2029
Consumers |  |  |  |  |  |  |  |  |  |
Intangible asset amortization expense |  | $ | 94 |  |  | $ | 90 |  |  | $ | 83 |  |  | $ | 77 |  |  | $ | 75 |
Consumers Energy Company |
Public Utility, Property, Plant and Equipment [Line Items] |
Schedule of Property, Plant and Equipment | Presented in the following table are details of CMS Energy’s and Consumers’ plant, property, and equipment:
In Millions, Except as Noted
December 31 | Estimated Depreciable Life in Years | 2024 | 2023
CMS Energy, including Consumers |  |  |  |  |
Plant, property, and equipment, gross |  |  |  |  |
Consumers | 3 – 125 |  | $ | 33,434 |  |  | $ | 31,723 |
NorthStar Clean Energy |  |  |  |  |
Independent power production 1 | 3 – 40 |  | 1,452 |  |  | 1,387 |
Assets under finance leases 2 |  |  | 45 |  |  | 24 |
Other | 3 – 5 |  | 1 |  |  | 1 |
Plant, property, and equipment, gross |  |  | $ | 34,932 |  |  | $ | 33,135 |
Construction work in progress |  |  | 2,098 |  |  | 944 |
Accumulated depreciation and amortization |  |  | (9,569) |  |  | (9,007) |
Total plant, property, and equipment 3 |  |  | $ | 27,461 |  |  | $ | 25,072 |
Consumers |  |  |  |  |
Plant, property, and equipment, gross |  |  |  |  |
Electric |  |  |  |  |
Generation | 15 – 125 |  | $ | 6,576 |  |  | $ | 6,511 |
Distribution | 15 – 75 |  | 12,135 |  |  | 11,339 |
Other | 5 – 55 |  | 1,307 |  |  | 1,355 |
Assets under finance leases 2 |  |  | 119 |  |  | 97 |
Gas |  |  |  |  |
Distribution | 20 – 85 |  | 7,942 |  |  | 7,452 |
Transmission | 17 – 75 |  | 3,081 |  |  | 2,806 |
Underground storage facilities 4 | 29 – 75 |  | 1,405 |  |  | 1,295 |
Other | 5 – 55 |  | 828 |  |  | 815 |
Assets under finance leases 2 |  |  | 12 |  |  | 15 |
Other non-utility property | 3 – 51 |  | 29 |  |  | 38 |
Plant, property, and equipment, gross |  |  | $ | 33,434 |  |  | $ | 31,723 |
Construction work in progress |  |  | 1,766 |  |  | 845 |
Accumulated depreciation and amortization |  |  | (9,310) |  |  | (8,796) |
Total plant, property, and equipment 2 |  |  | $ | 25,890 |  |  | $ | 23,772 |
1 A portion of independent power production assets are leased to others under operating leases. For information regarding CMS Energy’s operating leases of owned assets, see Note 8, Leases. 2 For information regarding the amortization terms of CMS Energy’s and Consumers’ assets under finance leases, see Note 8, Leases. 3 Consumers’ plant additions were $2.1 billion for the year ended December 31, 2024 and $3.1 billion for the year ended December 31, 2023. Consumers’ plant retirements were $390 million for the year ended December 31, 2024 and $856 million for the year ended December 31, 2023. 4 Underground storage includes base natural gas of $26 million at December 31, 2024 and 2023. Base natural gas is not subject to depreciation. Assets Under Finance Leases: Presented in the following table are further details about changes in CMS Energy’s and Consumers’ assets under finance leases:
In Millions
Years Ended December 31 | 2024 | 2023
CMS Energy, including Consumers |  |  |  |
Balance at beginning of period |  | $ | 136 |  |  | $ | 170 |
Additions |  | 55 |  |  | — |
Net retirements and other adjustments |  | (15) |  |  | (34) |
Balance at end of period |  | $ | 176 |  |  | $ | 136 |
Consumers |  |  |  |
Balance at beginning of period |  | $ | 112 |  |  | $ | 146 |
Additions |  | 34 |  |  | — |
Net retirements and other adjustments |  | (15) |  |  | (34) |
Balance at end of period |  | $ | 131 |  |  | $ | 112 |
Summary of Finite-Lived Intangible Assets by Major Class | Presented in the following table are details about Consumers’ intangible assets:
In Millions, Except as Noted
Description | Amortization Life in Years | December 31, 2024 |  | December 31, 2023
Gross Cost 1 | Accumulated Amortization |  | Gross Cost 1 | Accumulated Amortization
Consumers |  |  |  |  |  |  |  |  |  |
Software development | 3 – 15 |  | $ | 679 |  |  | $ | 481 |  |  |  | $ | 772 |  |  | $ | 543 |
Rights of way | 50 – 85 |  | 253 |  |  | 68 |  |  |  | 229 |  |  | 64 |
Franchises and consents | 5 – 50 |  | 16 |  |  | 11 |  |  |  | 16 |  |  | 11 |
Leasehold improvements | various 2 |  | 13 |  |  | 7 |  |  |  | 11 |  |  | 7 |
Other intangibles | various |  | 28 |  |  | 16 |  |  |  | 24 |  |  | 15 |
Total |  |  | $ | 989 |  |  | $ | 583 |  |  |  | $ | 1,052 |  |  | $ | 640 |
1 Consumers’ intangible asset additions were $90 million for the year ended December 31, 2024 and $80 million for the year ended December 31, 2023. Consumers’ intangible asset retirements were $153 million for the year ended December 31, 2024 and $142 million for the year ended December 31, 2023. 2 Leasehold improvements are amortized over the life of the lease, which may change whenever the lease is renewed or extended.
Summary of Average Capitalization Rates | Presented in the following table are Consumers’ average AFUDC capitalization rates:
Years Ended December 31 | 2024 | 2023 | 2022
Electric | 6.9 | % | 6.5 | % | 6.2 | %
Gas | 5.8 |  | 5.8 |  | 5.6 |
Summary of Accumulated Depreciation and Amortization | Presented in the following table are further details about CMS Energy’s and Consumers’ accumulated depreciation and amortization:
In Millions
Years Ended December 31 | 2024 | 2023
CMS Energy, including Consumers |  |  |  |
Utility plant assets |  | $ | 9,307 |  |  | $ | 8,790 |
Non-utility plant assets |  | 262 |  |  | 217 |
Consumers |  |  |  |
Utility plant assets |  | $ | 9,307 |  |  | $ | 8,790 |
Non-utility plant assets |  | 3 |  |  | 6 |
Summary of Composite Depreciation Rates for Properties | Presented in the following table are the composite depreciation rates for Consumers’ segment properties:
Years Ended December 31 | 2024 | 2023 | 2022
Electric utility property | 3.6 | % | 3.8 | % | 3.7 | %
Gas utility property | 2.5 |  | 2.8 |  | 2.9 |
Other property | 7.1 |  | 7.8 |  | 8.9 |
Summary of Depreciation and Amortization | Presented in the following table are the components of CMS Energy’s and Consumers’ depreciation and amortization expense:
In Millions
Years Ended December 31 | 2024 | 2023 | 2022
CMS Energy, including Consumers |  |  |  |  |  |
Depreciation expense – plant, property, and equipment |  | $ | 1,041 |  |  | $ | 1,050 |  |  | $ | 990 |
Amortization expense |  |  |  |  |  |
Software |  | 81 |  |  | 92 |  |  | 103 |
Other intangible assets |  | 5 |  |  | 5 |  |  | 5 |
Other regulatory assets |  | 2 |  |  | — |  |  | — |
Securitized regulatory assets |  | 111 |  |  | 33 |  |  | 28 |
Total depreciation and amortization expense |  | $ | 1,240 |  |  | $ | 1,180 |  |  | $ | 1,126 |
Consumers |  |  |  |  |  |
Depreciation expense – plant, property, and equipment |  | $ | 992 |  |  | $ | 1,007 |  |  | $ | 952 |
Amortization expense |  |  |  |  |  |
Software |  | 81 |  |  | 92 |  |  | 103 |
Other intangible assets |  | 5 |  |  | 5 |  |  | 5 |
Other regulatory assets |  | 2 |  |  | — |  |  | — |
Securitized regulatory assets |  | 111 |  |  | 33 |  |  | 28 |
Total depreciation and amortization expense |  | $ | 1,191 |  |  | $ | 1,137 |  |  | $ | 1,088 |
Schedule of Estimated Amortization Expense for Intangibles | Presented in the following table is Consumers’ estimated amortization expense on intangible assets for each of the next five years:
In Millions
| 2025 | 2026 | 2027 | 2028 | 2029
Consumers |  |  |  |  |  |  |  |  |  |
Intangible asset amortization expense |  | $ | 94 |  |  | $ | 90 |  |  | $ | 83 |  |  | $ | 77 |  |  | $ | 75 |
Summary of Jointly Owned Regulated Utility Facilities | Presented in the following table are Consumers’ investments in jointly owned regulated utility facilities at December 31, 2024:
In Millions, Except Ownership Share
| J.H. Campbell Unit 3 | Ludington | Other
Ownership share |  | 93.3 | % |  | 51.0 | % |  | various
Utility plant in service |  | $ | 1,725 |  |  | $ | 621 |  |  | $ | 445 |
Accumulated provision for depreciation |  | (856) |  |  | (242) |  |  | (95) |
Plant under construction |  | — |  |  | 13 |  |  | 29 |
Net investment |  | $ | 869 |  |  | $ | 392 |  |  | $ | 379 |

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