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Reportable Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting Information [Line Items] |
Schedule of Financial Information by Reportable Segments | Presented in the following tables is financial information by segment:
In Millions
Year Ended December 31, 2024 | Electric Utility | Gas Utility | NorthStar Clean Energy | Segments Total | Other Reconciling Items | Consolidated
CMS Energy, including Consumers
Operating revenue |  | $ | 5,061 |  |  | $ | 2,138 |  |  | $ | 316 |  |  | $ | 7,515 |  |  | $ | — |  |  | $ | 7,515 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,867 |  |  | — |  |  | 161 |  |  | 2,028 |  |  | — |  |  | 2,028 |
Cost of gas sold |  | — |  |  | 637 |  |  | 3 |  |  | 640 |  |  | — |  |  | 640 |
Maintenance and other operating expenses |  | 1,066 |  |  | 454 |  |  | 101 |  |  | 1,621 |  |  | 17 |  |  | 1,638 |
Depreciation and amortization |  | 865 |  |  | 325 |  |  | 49 |  |  | 1,239 |  |  | 1 |  |  | 1,240 |
General taxes |  | 281 |  |  | 188 |  |  | 12 |  |  | 481 |  |  | 1 |  |  | 482 |
Total operating expenses |  | 4,079 |  |  | 1,604 |  |  | 326 |  |  | 6,009 |  |  | 19 |  |  | 6,028 |
Operating Income (Loss) |  | 982 |  |  | 534 |  |  | (10) |  |  | 1,506 |  |  | (19) |  |  | 1,487 |
Other income 2 |  | 126 |  |  | 86 |  |  | 14 |  |  | 226 |  |  | 118 |  |  | 344 |
Interest charges |  | 324 |  |  | 192 |  |  | 4 |  |  | 520 |  |  | 188 |  |  | 708 |
Income (Loss) Before Income Taxes |  | 784 |  |  | 428 |  |  | — |  |  | 1,212 |  |  | (89) |  |  | 1,123 |
Income tax expense (benefit) |  | 102 |  |  | 99 |  |  | (5) |  |  | 196 |  |  | (20) |  |  | 176 |
Income (Loss) From Continuing Operations |  | 682 |  |  | 329 |  |  | 5 |  |  | 1,016 |  |  | (69) |  |  | 947 |
Other segment items 3 |  | (1) |  |  | (1) |  |  | 58 |  |  | 56 |  |  | (10) |  |  | 46 |
Net Income (Loss) Available to Common Stockholders |  | $ | 681 |  |  | $ | 328 |  |  | $ | 63 |  |  | $ | 1,072 |  |  | $ | (79) |  |  | $ | 993 |
Property, plant, and equipment, gross |  | $ | 20,137 |  | 4 | $ | 13,268 |  | 4 | $ | 1,506 |  |  | $ | 34,911 |  |  | $ | 21 |  |  | $ | 34,932 |
Investments in equity method investees |  | — |  |  | — |  |  | 64 |  |  | 64 |  |  | — |  |  | 64 |
Total assets |  | 20,710 |  | 4 | 13,247 |  | 4 | 1,893 |  |  | 35,850 |  |  | 70 |  |  | 35,920 |
Capital expenditures 5 |  | 1,871 |  | 6 | 1,141 |  | 6 | 288 |  |  | 3,300 |  |  | 1 |  |  | 3,301 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Includes income from equity method investees of $7 million attributable to NorthStar Clean Energy. See Note 15, Other Income and Other Expense 3 Other segment items comprise of loss attributable to noncontrolling interests and preferred stock dividends. 4 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 5 Amounts include assets placed under finance lease. 6 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2024 | Electric Utility | Gas Utility | Segments Total | Other Reconciling Items | Consolidated
Consumers
Operating revenue |  | $ | 5,061 |  |  | $ | 2,138 |  |  | $ | 7,199 |  |  | $ | 1 |  |  | $ | 7,200 |
Operating expenses |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,867 |  |  | — |  |  | 1,867 |  |  | — |  |  | 1,867 |
Cost of gas sold |  | — |  |  | 637 |  |  | 637 |  |  | — |  |  | 637 |
Maintenance and other operating expenses |  | 1,066 |  |  | 454 |  |  | 1,520 |  |  | — |  |  | 1,520 |
Depreciation and amortization |  | 865 |  |  | 325 |  |  | 1,190 |  |  | 1 |  |  | 1,191 |
General taxes |  | 281 |  |  | 188 |  |  | 469 |  |  | 1 |  |  | 470 |
Total operating expenses |  | 4,079 |  |  | 1,604 |  |  | 5,683 |  |  | 2 |  |  | 5,685 |
Operating Income (Loss) |  | 982 |  |  | 534 |  |  | 1,516 |  |  | (1) |  |  | 1,515 |
Other income |  | 126 |  |  | 86 |  |  | 212 |  |  | — |  |  | 212 |
Interest charges |  | 324 |  |  | 192 |  |  | 516 |  |  | 2 |  |  | 518 |
Income (Loss) Before Income Taxes |  | 784 |  |  | 428 |  |  | 1,212 |  |  | (3) |  |  | 1,209 |
Income tax expense (benefit) |  | 102 |  |  | 99 |  |  | 201 |  |  | (1) |  |  | 200 |
Net Income (Loss) |  | 682 |  |  | 329 |  |  | 1,011 |  |  | (2) |  |  | 1,009 |
Other segment items 2 |  | (1) |  |  | (1) |  |  | (2) |  |  | — |  |  | (2) |
Net Income (Loss) Available to Common Stockholder |  | $ | 681 |  |  | $ | 328 |  |  | $ | 1,009 |  |  | $ | (2) |  |  | $ | 1,007 |
Property, plant, and equipment, gross |  | $ | 20,137 |  | 3 | $ | 13,268 |  | 3 | $ | 33,405 |  |  | $ | 29 |  |  | $ | 33,434 |
Total assets |  | 20,767 |  | 3 | 13,289 |  | 3 | 34,056 |  |  | 32 |  |  | 34,088 |
Capital expenditures 4 |  | 1,871 |  | 5 | 1,141 |  | 5 | 3,012 |  |  | — |  |  | 3,012 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Other segment items comprise of preferred stock dividends. 3 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 4 Amounts include assets placed under finance lease. 5 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2023 | Electric Utility | Gas Utility | NorthStar Clean Energy | Segments Total | Other Reconciling Items | Consolidated
CMS Energy, including Consumers
Operating revenue |  | $ | 4,745 |  |  | $ | 2,420 |  |  | $ | 297 |  |  | $ | 7,462 |  |  | $ | — |  |  | $ | 7,462 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,841 |  |  | — |  |  | 170 |  |  | 2,011 |  |  | — |  |  | 2,011 |
Cost of gas sold |  | — |  |  | 897 |  |  | 5 |  |  | 902 |  |  | — |  |  | 902 |
Maintenance and other operating expenses |  | 1,075 |  |  | 511 |  |  | 88 |  |  | 1,674 |  |  | 13 |  |  | 1,687 |
Depreciation and amortization |  | 797 |  |  | 338 |  |  | 43 |  |  | 1,178 |  |  | 2 |  |  | 1,180 |
General taxes |  | 260 |  |  | 176 |  |  | 10 |  |  | 446 |  |  | 1 |  |  | 447 |
Total operating expenses |  | 3,973 |  |  | 1,922 |  |  | 316 |  |  | 6,211 |  |  | 16 |  |  | 6,227 |
Operating Income (Loss) |  | 772 |  |  | 498 |  |  | (19) |  |  | 1,251 |  |  | (16) |  |  | 1,235 |
Other income 2 |  | 131 |  |  | 77 |  |  | 12 |  |  | 220 |  |  | 142 |  |  | 362 |
Interest charges |  | 285 |  |  | 161 |  |  | 2 |  |  | 448 |  |  | 195 |  |  | 643 |
Income (Loss) Before Income Taxes |  | 618 |  |  | 414 |  |  | (9) |  |  | 1,023 |  |  | (69) |  |  | 954 |
Income tax expense (benefit) |  | 67 |  |  | 98 |  |  | 4 |  |  | 169 |  |  | (22) |  |  | 147 |
Income (Loss) From Continuing Operations |  | 551 |  |  | 316 |  |  | (13) |  |  | 854 |  |  | (47) |  |  | 807 |
Other segment items 3 |  | (1) |  |  | (1) |  |  | 80 |  |  | 78 |  |  | (8) |  |  | 70 |
Net Income (Loss) Available to Common Stockholders |  | $ | 550 |  |  | $ | 315 |  |  | $ | 67 |  |  | $ | 932 |  |  | $ | (55) |  |  | $ | 877 |
Property, plant, and equipment, gross |  | $ | 19,302 |  | 4 | $ | 12,383 |  | 4 | $ | 1,420 |  |  | $ | 33,105 |  |  | $ | 30 |  |  | $ | 33,135 |
Investments in equity method investees |  | — |  |  | — |  |  | 74 |  |  | 74 |  |  | — |  |  | 74 |
Total assets |  | 19,358 |  | 4 | 12,353 |  | 4 | 1,604 |  |  | 33,315 |  |  | 202 |  |  | 33,517 |
Capital expenditures 5 |  | 2,081 |  | 6 | 1,041 |  | 6 | 156 |  |  | $ | 3,278 |  |  | 2 |  |  | 3,280 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Includes income from equity method investees of $7 million attributable to NorthStar Clean Energy. See Note 15, Other Income and Other Expense. 3 Other segment items comprise of income from discontinued operations, net of tax, loss attributable to noncontrolling interests, and preferred stock dividends. 4 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 5 Amounts include assets placed under finance lease. 6 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2023 | Electric Utility | Gas Utility | Segments Total | Other Reconciling Items | Consolidated
Consumers
Operating revenue |  | $ | 4,745 |  |  | $ | 2,420 |  |  | $ | 7,165 |  |  | $ | 1 |  |  | $ | 7,166 |
Operating expenses |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,841 |  |  | — |  |  | 1,841 |  |  | — |  |  | 1,841 |
Cost of gas sold |  | — |  |  | 897 |  |  | 897 |  |  | — |  |  | 897 |
Maintenance and other operating expenses |  | 1,075 |  |  | 511 |  |  | 1,586 |  |  | — |  |  | 1,586 |
Depreciation and amortization |  | 797 |  |  | 338 |  |  | 1,135 |  |  | 2 |  |  | 1,137 |
General taxes |  | 260 |  |  | 176 |  |  | 436 |  |  | 1 |  |  | 437 |
Total operating expenses |  | 3,973 |  |  | 1,922 |  |  | 5,895 |  |  | 3 |  |  | 5,898 |
Operating Income (Loss) |  | 772 |  |  | 498 |  |  | 1,270 |  |  | (2) |  |  | 1,268 |
Other income |  | 131 |  |  | 77 |  |  | 208 |  |  | — |  |  | 208 |
Interest charges |  | 285 |  |  | 161 |  |  | 446 |  |  | 2 |  |  | 448 |
Income (Loss) Before Income Taxes |  | 618 |  |  | 414 |  |  | 1,032 |  |  | (4) |  |  | 1,028 |
Income tax expense (benefit) |  | 67 |  |  | 98 |  |  | 165 |  |  | (4) |  |  | 161 |
Net Income |  | 551 |  |  | 316 |  |  | 867 |  |  | — |  |  | 867 |
Other segment items 2 |  | (1) |  |  | (1) |  |  | (2) |  |  | — |  |  | (2) |
Net Income Available to Common Stockholder |  | $ | 550 |  |  | $ | 315 |  |  | $ | 865 |  |  | $ | — |  |  | $ | 865 |
Property, plant, and equipment, gross |  | $ | 19,302 |  | 3 | $ | 12,383 |  | 3 | $ | 31,685 |  |  | $ | 38 |  |  | $ | 31,723 |
Total assets |  | 19,417 |  | 3 | 12,397 |  | 3 | 31,814 |  |  | 38 |  |  | 31,852 |
Capital expenditures 4 |  | 2,081 |  | 5 | 1,041 |  | 5 | 3,122 |  |  | 23 |  |  | 3,145 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Other segment items comprise of preferred stock dividends. 3 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 4 Amounts include assets placed under finance lease. 5 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2022 | Electric Utility | Gas Utility | NorthStar Clean Energy | Segments Total | Other Reconciling Items | Consolidated
CMS Energy, including Consumers
Operating revenue |  | $ | 5,419 |  |  | $ | 2,732 |  |  | $ | 445 |  |  | $ | 8,596 |  |  | $ | — |  |  | $ | 8,596 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 2,605 |  |  | — |  |  | 304 |  |  | 2,909 |  |  | — |  |  | 2,909 |
Cost of gas sold |  | — |  |  | 1,243 |  |  | 13 |  |  | 1,256 |  |  | — |  |  | 1,256 |
Maintenance and other operating expenses |  | 1,028 |  |  | 554 |  |  | 76 |  |  | 1,658 |  |  | 11 |  |  | 1,669 |
Depreciation and amortization |  | 757 |  |  | 330 |  |  | 38 |  |  | 1,125 |  |  | 1 |  |  | 1,126 |
General taxes |  | 240 |  |  | 159 |  |  | 12 |  |  | 411 |  |  | 1 |  |  | 412 |
Total operating expenses |  | 4,630 |  |  | 2,286 |  |  | 443 |  |  | 7,359 |  |  | 13 |  |  | 7,372 |
Operating Income (Loss) |  | 789 |  |  | 446 |  |  | 2 |  |  | 1,237 |  |  | (13) |  |  | 1,224 |
Other income (expense)2 |  | 106 |  |  | 81 |  |  | 12 |  |  | 199 |  |  | (2) |  |  | 197 |
Interest charges |  | 218 |  |  | 116 |  |  | 3 |  |  | 337 |  |  | 182 |  |  | 519 |
Income (Loss) Before Income Taxes |  | 677 |  |  | 411 |  |  | 11 |  |  | 1,099 |  |  | (197) |  |  | 902 |
Income tax expense (benefit) |  | 109 |  |  | 32 |  |  | 3 |  |  | 144 |  |  | (51) |  |  | 93 |
Income (Loss) From Continuing Operations |  | 568 |  |  | 379 |  |  | 8 |  |  | 955 |  |  | (146) |  |  | 809 |
Other segment items 3 |  | (1) |  |  | (1) |  |  | 26 |  |  | 24 |  |  | (6) |  |  | 18 |
Net Income (Loss) Available to Common Stockholders |  | $ | 567 |  |  | $ | 378 |  |  | $ | 34 |  |  | $ | 979 |  |  | $ | (152) |  |  | $ | 827 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Includes income from equity method investees of $3 million attributable to NorthStar Clean Energy. See Note 15, Other Income and Other Expense. 3 Other segment items comprise of income from discontinued operations, net of tax, loss attributable to noncontrolling interests, and preferred stock dividends.
In Millions
Year Ended December 31, 2022 | Electric Utility | Gas Utility | Segments Total | Other Reconciling Items | Consolidated
Consumers
Operating revenue |  | $ | 5,419 |  |  | $ | 2,732 |  |  | $ | 8,151 |  |  | $ | — |  |  | $ | 8,151 |
Operating expenses |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 2,605 |  |  | — |  |  | 2,605 |  |  | — |  |  | 2,605 |
Cost of gas sold |  | — |  |  | 1,243 |  |  | 1,243 |  |  | — |  |  | 1,243 |
Maintenance and other operating expenses |  | 1,028 |  |  | 554 |  |  | 1,582 |  |  | — |  |  | 1,582 |
Depreciation and amortization |  | 757 |  |  | 330 |  |  | 1,087 |  |  | 1 |  |  | 1,088 |
General taxes |  | 240 |  |  | 159 |  |  | 399 |  |  | 1 |  |  | 400 |
Total operating expenses |  | 4,630 |  |  | 2,286 |  |  | 6,916 |  |  | 2 |  |  | 6,918 |
Operating Income (Loss) |  | 789 |  |  | 446 |  |  | 1,235 |  |  | (2) |  |  | 1,233 |
Other income |  | 106 |  |  | 81 |  |  | 187 |  |  | — |  |  | 187 |
Interest charges |  | 218 |  |  | 116 |  |  | 334 |  |  | 1 |  |  | 335 |
Income (Loss) Before Income Taxes |  | 677 |  |  | 411 |  |  | 1,088 |  |  | (3) |  |  | 1,085 |
Income tax expense (benefit) |  | 109 |  |  | 32 |  |  | 141 |  |  | (1) |  |  | 140 |
Net Income (Loss) |  | 568 |  |  | 379 |  |  | 947 |  |  | (2) |  |  | 945 |
Other segment items 2 |  | (1) |  |  | (1) |  |  | (2) |  |  | — |  |  | (2) |
Net Income (Loss) Available to Common Stockholder |  | $ | 567 |  |  | $ | 378 |  |  | $ | 945 |  |  | $ | (2) |  |  | $ | 943 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Other segment items comprise of preferred stock dividends.
Consumers Energy Company |
Segment Reporting Information [Line Items] |
Schedule of Financial Information by Reportable Segments | Presented in the following tables is financial information by segment:
In Millions
Year Ended December 31, 2024 | Electric Utility | Gas Utility | NorthStar Clean Energy | Segments Total | Other Reconciling Items | Consolidated
CMS Energy, including Consumers
Operating revenue |  | $ | 5,061 |  |  | $ | 2,138 |  |  | $ | 316 |  |  | $ | 7,515 |  |  | $ | — |  |  | $ | 7,515 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,867 |  |  | — |  |  | 161 |  |  | 2,028 |  |  | — |  |  | 2,028 |
Cost of gas sold |  | — |  |  | 637 |  |  | 3 |  |  | 640 |  |  | — |  |  | 640 |
Maintenance and other operating expenses |  | 1,066 |  |  | 454 |  |  | 101 |  |  | 1,621 |  |  | 17 |  |  | 1,638 |
Depreciation and amortization |  | 865 |  |  | 325 |  |  | 49 |  |  | 1,239 |  |  | 1 |  |  | 1,240 |
General taxes |  | 281 |  |  | 188 |  |  | 12 |  |  | 481 |  |  | 1 |  |  | 482 |
Total operating expenses |  | 4,079 |  |  | 1,604 |  |  | 326 |  |  | 6,009 |  |  | 19 |  |  | 6,028 |
Operating Income (Loss) |  | 982 |  |  | 534 |  |  | (10) |  |  | 1,506 |  |  | (19) |  |  | 1,487 |
Other income 2 |  | 126 |  |  | 86 |  |  | 14 |  |  | 226 |  |  | 118 |  |  | 344 |
Interest charges |  | 324 |  |  | 192 |  |  | 4 |  |  | 520 |  |  | 188 |  |  | 708 |
Income (Loss) Before Income Taxes |  | 784 |  |  | 428 |  |  | — |  |  | 1,212 |  |  | (89) |  |  | 1,123 |
Income tax expense (benefit) |  | 102 |  |  | 99 |  |  | (5) |  |  | 196 |  |  | (20) |  |  | 176 |
Income (Loss) From Continuing Operations |  | 682 |  |  | 329 |  |  | 5 |  |  | 1,016 |  |  | (69) |  |  | 947 |
Other segment items 3 |  | (1) |  |  | (1) |  |  | 58 |  |  | 56 |  |  | (10) |  |  | 46 |
Net Income (Loss) Available to Common Stockholders |  | $ | 681 |  |  | $ | 328 |  |  | $ | 63 |  |  | $ | 1,072 |  |  | $ | (79) |  |  | $ | 993 |
Property, plant, and equipment, gross |  | $ | 20,137 |  | 4 | $ | 13,268 |  | 4 | $ | 1,506 |  |  | $ | 34,911 |  |  | $ | 21 |  |  | $ | 34,932 |
Investments in equity method investees |  | — |  |  | — |  |  | 64 |  |  | 64 |  |  | — |  |  | 64 |
Total assets |  | 20,710 |  | 4 | 13,247 |  | 4 | 1,893 |  |  | 35,850 |  |  | 70 |  |  | 35,920 |
Capital expenditures 5 |  | 1,871 |  | 6 | 1,141 |  | 6 | 288 |  |  | 3,300 |  |  | 1 |  |  | 3,301 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Includes income from equity method investees of $7 million attributable to NorthStar Clean Energy. See Note 15, Other Income and Other Expense 3 Other segment items comprise of loss attributable to noncontrolling interests and preferred stock dividends. 4 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 5 Amounts include assets placed under finance lease. 6 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2024 | Electric Utility | Gas Utility | Segments Total | Other Reconciling Items | Consolidated
Consumers
Operating revenue |  | $ | 5,061 |  |  | $ | 2,138 |  |  | $ | 7,199 |  |  | $ | 1 |  |  | $ | 7,200 |
Operating expenses |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,867 |  |  | — |  |  | 1,867 |  |  | — |  |  | 1,867 |
Cost of gas sold |  | — |  |  | 637 |  |  | 637 |  |  | — |  |  | 637 |
Maintenance and other operating expenses |  | 1,066 |  |  | 454 |  |  | 1,520 |  |  | — |  |  | 1,520 |
Depreciation and amortization |  | 865 |  |  | 325 |  |  | 1,190 |  |  | 1 |  |  | 1,191 |
General taxes |  | 281 |  |  | 188 |  |  | 469 |  |  | 1 |  |  | 470 |
Total operating expenses |  | 4,079 |  |  | 1,604 |  |  | 5,683 |  |  | 2 |  |  | 5,685 |
Operating Income (Loss) |  | 982 |  |  | 534 |  |  | 1,516 |  |  | (1) |  |  | 1,515 |
Other income |  | 126 |  |  | 86 |  |  | 212 |  |  | — |  |  | 212 |
Interest charges |  | 324 |  |  | 192 |  |  | 516 |  |  | 2 |  |  | 518 |
Income (Loss) Before Income Taxes |  | 784 |  |  | 428 |  |  | 1,212 |  |  | (3) |  |  | 1,209 |
Income tax expense (benefit) |  | 102 |  |  | 99 |  |  | 201 |  |  | (1) |  |  | 200 |
Net Income (Loss) |  | 682 |  |  | 329 |  |  | 1,011 |  |  | (2) |  |  | 1,009 |
Other segment items 2 |  | (1) |  |  | (1) |  |  | (2) |  |  | — |  |  | (2) |
Net Income (Loss) Available to Common Stockholder |  | $ | 681 |  |  | $ | 328 |  |  | $ | 1,009 |  |  | $ | (2) |  |  | $ | 1,007 |
Property, plant, and equipment, gross |  | $ | 20,137 |  | 3 | $ | 13,268 |  | 3 | $ | 33,405 |  |  | $ | 29 |  |  | $ | 33,434 |
Total assets |  | 20,767 |  | 3 | 13,289 |  | 3 | 34,056 |  |  | 32 |  |  | 34,088 |
Capital expenditures 4 |  | 1,871 |  | 5 | 1,141 |  | 5 | 3,012 |  |  | — |  |  | 3,012 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Other segment items comprise of preferred stock dividends. 3 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 4 Amounts include assets placed under finance lease. 5 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2023 | Electric Utility | Gas Utility | NorthStar Clean Energy | Segments Total | Other Reconciling Items | Consolidated
CMS Energy, including Consumers
Operating revenue |  | $ | 4,745 |  |  | $ | 2,420 |  |  | $ | 297 |  |  | $ | 7,462 |  |  | $ | — |  |  | $ | 7,462 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,841 |  |  | — |  |  | 170 |  |  | 2,011 |  |  | — |  |  | 2,011 |
Cost of gas sold |  | — |  |  | 897 |  |  | 5 |  |  | 902 |  |  | — |  |  | 902 |
Maintenance and other operating expenses |  | 1,075 |  |  | 511 |  |  | 88 |  |  | 1,674 |  |  | 13 |  |  | 1,687 |
Depreciation and amortization |  | 797 |  |  | 338 |  |  | 43 |  |  | 1,178 |  |  | 2 |  |  | 1,180 |
General taxes |  | 260 |  |  | 176 |  |  | 10 |  |  | 446 |  |  | 1 |  |  | 447 |
Total operating expenses |  | 3,973 |  |  | 1,922 |  |  | 316 |  |  | 6,211 |  |  | 16 |  |  | 6,227 |
Operating Income (Loss) |  | 772 |  |  | 498 |  |  | (19) |  |  | 1,251 |  |  | (16) |  |  | 1,235 |
Other income 2 |  | 131 |  |  | 77 |  |  | 12 |  |  | 220 |  |  | 142 |  |  | 362 |
Interest charges |  | 285 |  |  | 161 |  |  | 2 |  |  | 448 |  |  | 195 |  |  | 643 |
Income (Loss) Before Income Taxes |  | 618 |  |  | 414 |  |  | (9) |  |  | 1,023 |  |  | (69) |  |  | 954 |
Income tax expense (benefit) |  | 67 |  |  | 98 |  |  | 4 |  |  | 169 |  |  | (22) |  |  | 147 |
Income (Loss) From Continuing Operations |  | 551 |  |  | 316 |  |  | (13) |  |  | 854 |  |  | (47) |  |  | 807 |
Other segment items 3 |  | (1) |  |  | (1) |  |  | 80 |  |  | 78 |  |  | (8) |  |  | 70 |
Net Income (Loss) Available to Common Stockholders |  | $ | 550 |  |  | $ | 315 |  |  | $ | 67 |  |  | $ | 932 |  |  | $ | (55) |  |  | $ | 877 |
Property, plant, and equipment, gross |  | $ | 19,302 |  | 4 | $ | 12,383 |  | 4 | $ | 1,420 |  |  | $ | 33,105 |  |  | $ | 30 |  |  | $ | 33,135 |
Investments in equity method investees |  | — |  |  | — |  |  | 74 |  |  | 74 |  |  | — |  |  | 74 |
Total assets |  | 19,358 |  | 4 | 12,353 |  | 4 | 1,604 |  |  | 33,315 |  |  | 202 |  |  | 33,517 |
Capital expenditures 5 |  | 2,081 |  | 6 | 1,041 |  | 6 | 156 |  |  | $ | 3,278 |  |  | 2 |  |  | 3,280 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Includes income from equity method investees of $7 million attributable to NorthStar Clean Energy. See Note 15, Other Income and Other Expense. 3 Other segment items comprise of income from discontinued operations, net of tax, loss attributable to noncontrolling interests, and preferred stock dividends. 4 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 5 Amounts include assets placed under finance lease. 6 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2023 | Electric Utility | Gas Utility | Segments Total | Other Reconciling Items | Consolidated
Consumers
Operating revenue |  | $ | 4,745 |  |  | $ | 2,420 |  |  | $ | 7,165 |  |  | $ | 1 |  |  | $ | 7,166 |
Operating expenses |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 1,841 |  |  | — |  |  | 1,841 |  |  | — |  |  | 1,841 |
Cost of gas sold |  | — |  |  | 897 |  |  | 897 |  |  | — |  |  | 897 |
Maintenance and other operating expenses |  | 1,075 |  |  | 511 |  |  | 1,586 |  |  | — |  |  | 1,586 |
Depreciation and amortization |  | 797 |  |  | 338 |  |  | 1,135 |  |  | 2 |  |  | 1,137 |
General taxes |  | 260 |  |  | 176 |  |  | 436 |  |  | 1 |  |  | 437 |
Total operating expenses |  | 3,973 |  |  | 1,922 |  |  | 5,895 |  |  | 3 |  |  | 5,898 |
Operating Income (Loss) |  | 772 |  |  | 498 |  |  | 1,270 |  |  | (2) |  |  | 1,268 |
Other income |  | 131 |  |  | 77 |  |  | 208 |  |  | — |  |  | 208 |
Interest charges |  | 285 |  |  | 161 |  |  | 446 |  |  | 2 |  |  | 448 |
Income (Loss) Before Income Taxes |  | 618 |  |  | 414 |  |  | 1,032 |  |  | (4) |  |  | 1,028 |
Income tax expense (benefit) |  | 67 |  |  | 98 |  |  | 165 |  |  | (4) |  |  | 161 |
Net Income |  | 551 |  |  | 316 |  |  | 867 |  |  | — |  |  | 867 |
Other segment items 2 |  | (1) |  |  | (1) |  |  | (2) |  |  | — |  |  | (2) |
Net Income Available to Common Stockholder |  | $ | 550 |  |  | $ | 315 |  |  | $ | 865 |  |  | $ | — |  |  | $ | 865 |
Property, plant, and equipment, gross |  | $ | 19,302 |  | 3 | $ | 12,383 |  | 3 | $ | 31,685 |  |  | $ | 38 |  |  | $ | 31,723 |
Total assets |  | 19,417 |  | 3 | 12,397 |  | 3 | 31,814 |  |  | 38 |  |  | 31,852 |
Capital expenditures 4 |  | 2,081 |  | 5 | 1,041 |  | 5 | 3,122 |  |  | 23 |  |  | 3,145 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Other segment items comprise of preferred stock dividends. 3 Amounts include a portion of Consumers’ other common assets attributable to both the electric and gas utility businesses. 4 Amounts include assets placed under finance lease. 5 Amounts include a portion of Consumers’ capital expenditures for plant and equipment attributable to both the electric and gas utility businesses.
In Millions
Year Ended December 31, 2022 | Electric Utility | Gas Utility | NorthStar Clean Energy | Segments Total | Other Reconciling Items | Consolidated
CMS Energy, including Consumers
Operating revenue |  | $ | 5,419 |  |  | $ | 2,732 |  |  | $ | 445 |  |  | $ | 8,596 |  |  | $ | — |  |  | $ | 8,596 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 2,605 |  |  | — |  |  | 304 |  |  | 2,909 |  |  | — |  |  | 2,909 |
Cost of gas sold |  | — |  |  | 1,243 |  |  | 13 |  |  | 1,256 |  |  | — |  |  | 1,256 |
Maintenance and other operating expenses |  | 1,028 |  |  | 554 |  |  | 76 |  |  | 1,658 |  |  | 11 |  |  | 1,669 |
Depreciation and amortization |  | 757 |  |  | 330 |  |  | 38 |  |  | 1,125 |  |  | 1 |  |  | 1,126 |
General taxes |  | 240 |  |  | 159 |  |  | 12 |  |  | 411 |  |  | 1 |  |  | 412 |
Total operating expenses |  | 4,630 |  |  | 2,286 |  |  | 443 |  |  | 7,359 |  |  | 13 |  |  | 7,372 |
Operating Income (Loss) |  | 789 |  |  | 446 |  |  | 2 |  |  | 1,237 |  |  | (13) |  |  | 1,224 |
Other income (expense)2 |  | 106 |  |  | 81 |  |  | 12 |  |  | 199 |  |  | (2) |  |  | 197 |
Interest charges |  | 218 |  |  | 116 |  |  | 3 |  |  | 337 |  |  | 182 |  |  | 519 |
Income (Loss) Before Income Taxes |  | 677 |  |  | 411 |  |  | 11 |  |  | 1,099 |  |  | (197) |  |  | 902 |
Income tax expense (benefit) |  | 109 |  |  | 32 |  |  | 3 |  |  | 144 |  |  | (51) |  |  | 93 |
Income (Loss) From Continuing Operations |  | 568 |  |  | 379 |  |  | 8 |  |  | 955 |  |  | (146) |  |  | 809 |
Other segment items 3 |  | (1) |  |  | (1) |  |  | 26 |  |  | 24 |  |  | (6) |  |  | 18 |
Net Income (Loss) Available to Common Stockholders |  | $ | 567 |  |  | $ | 378 |  |  | $ | 34 |  |  | $ | 979 |  |  | $ | (152) |  |  | $ | 827 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Includes income from equity method investees of $3 million attributable to NorthStar Clean Energy. See Note 15, Other Income and Other Expense. 3 Other segment items comprise of income from discontinued operations, net of tax, loss attributable to noncontrolling interests, and preferred stock dividends.
In Millions
Year Ended December 31, 2022 | Electric Utility | Gas Utility | Segments Total | Other Reconciling Items | Consolidated
Consumers
Operating revenue |  | $ | 5,419 |  |  | $ | 2,732 |  |  | $ | 8,151 |  |  | $ | — |  |  | $ | 8,151 |
Operating expenses |  |  |  |  |  |  |  |  |  |
Power supply cost 1 |  | 2,605 |  |  | — |  |  | 2,605 |  |  | — |  |  | 2,605 |
Cost of gas sold |  | — |  |  | 1,243 |  |  | 1,243 |  |  | — |  |  | 1,243 |
Maintenance and other operating expenses |  | 1,028 |  |  | 554 |  |  | 1,582 |  |  | — |  |  | 1,582 |
Depreciation and amortization |  | 757 |  |  | 330 |  |  | 1,087 |  |  | 1 |  |  | 1,088 |
General taxes |  | 240 |  |  | 159 |  |  | 399 |  |  | 1 |  |  | 400 |
Total operating expenses |  | 4,630 |  |  | 2,286 |  |  | 6,916 |  |  | 2 |  |  | 6,918 |
Operating Income (Loss) |  | 789 |  |  | 446 |  |  | 1,235 |  |  | (2) |  |  | 1,233 |
Other income |  | 106 |  |  | 81 |  |  | 187 |  |  | — |  |  | 187 |
Interest charges |  | 218 |  |  | 116 |  |  | 334 |  |  | 1 |  |  | 335 |
Income (Loss) Before Income Taxes |  | 677 |  |  | 411 |  |  | 1,088 |  |  | (3) |  |  | 1,085 |
Income tax expense (benefit) |  | 109 |  |  | 32 |  |  | 141 |  |  | (1) |  |  | 140 |
Net Income (Loss) |  | 568 |  |  | 379 |  |  | 947 |  |  | (2) |  |  | 945 |
Other segment items 2 |  | (1) |  |  | (1) |  |  | (2) |  |  | — |  |  | (2) |
Net Income (Loss) Available to Common Stockholder |  | $ | 567 |  |  | $ | 378 |  |  | $ | 945 |  |  | $ | (2) |  |  | $ | 943 |
1 Power supply costs comprise of fuel for electric generation, purchased and interchange power, and purchased power – related parties. 2 Other segment items comprise of preferred stock dividends.

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