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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Restricted Stock Activity | Presented in the following tables is the activity for restricted stock and restricted stock units under the PISP:
| CMS Energy, including Consumers |  | Consumers
Year Ended December 31, 2024 | Number of Shares | Weighted-average Grant Date Fair Value Per Share |  | Number of Shares | Weighted-average Grant Date Fair Value Per Share
Nonvested at beginning of period | 1,158,102 |  |  | $ | 59.50 |  |  | 1,094,366 |  |  | $ | 59.50 |
Granted |  |  |  |  |  |  |
Restricted stock | 606,746 |  |  | 44.76 |  |  | 562,139 |  |  | 44.49 |
Restricted stock units | 26,704 |  |  | 52.43 |  |  | 25,677 |  |  | 52.46 |
Vested |  |  |  |  |  |  |
Restricted stock | (467,039) |  |  | 45.88 |  |  | (441,913) |  |  | 45.89 |
Restricted stock units | (19,350) |  |  | 49.62 |  |  | (18,572) |  |  | 49.64 |
Forfeited – restricted stock | (142,376) |  |  | 42.68 |  |  | (140,124) |  |  | 43.37 |
Nonvested at end of period | 1,162,787 |  |  | $ | 59.34 |  |  | 1,081,573 |  |  | $ | 59.35 |
Year Ended December 31, 2024 | CMS Energy, including Consumers | Consumers
Granted |  |
Time-lapse awards | 130,512 |  | 117,525 |
Market-based awards | 165,238 |  | 153,513 |
Performance-based awards | 176,655 |  | 164,324 |
Restricted stock units | 22,744 |  | 21,880 |
Dividends on market-based awards | 14,518 |  | 13,634 |
Dividends on performance-based awards | 15,860 |  | 14,905 |
Dividends on restricted stock units | 3,960 |  | 3,797 |
Additional performance-based shares based on achievement of condition | 103,963 |  | 98,238 |
Total granted | 633,450 |  | 587,816 |
Schedule of Significant Assumptions | Presented in the following table are the most significant assumptions used to estimate the fair value of the market-based restricted stock awards:
Years Ended December 31 | 2024 | 2023 | 2022
Expected volatility | 20.2 | % | 30.3 | % | 27.3 | %
Expected dividend yield | 3.5 |  | 2.9 |  | 2.8 |
Risk-free rate | 4.1 |  | 3.9 |  | 1.4 |
Summary of Weighted-average Grant-date Fair Value | Presented in the following table is the weighted-average grant-date fair value of all awards under the PISP:
In Millions
Years Ended December 31 | 2024 | 2023 | 2022
CMS Energy, including Consumers |  |  |  |  |  |
Weighted-average grant-date fair value per share |  |  |  |  |  |
Restricted stock granted |  | $ | 44.76 |  |  | $ | 52.62 |  |  | $ | 48.69 |
Restricted stock units granted |  | 52.43 |  |  | 50.32 |  |  | 56.13 |
Consumers |  |  |  |  |  |
Weighted-average grant-date fair value per share |  |  |  |  |  |
Restricted stock granted |  | $ | 44.49 |  |  | $ | 52.42 |  |  | $ | 48.57 |
Restricted stock units granted |  | 52.46 |  |  | 50.34 |  |  | 56.07 |
Schedule of Amounts Related to Restricted Stock Awards and Restricted Stock Units | Presented in the following table are amounts related to restricted stock awards and restricted stock units:
In Millions
Years Ended December 31 | 2024 | 2023 | 2022
CMS Energy, including Consumers |  |  |  |  |  |
Fair value of shares that vested during the year |  | $ | 28 |  |  | $ | 20 |  |  | $ | 27 |
Compensation expense recognized |  | 27 |  |  | 28 |  |  | 26 |
Income tax benefit recognized |  | 3 |  |  | 3 |  |  | — |
Consumers |  |  |  |  |  |
Fair value of shares that vested during the year |  | $ | 27 |  |  | $ | 19 |  |  | $ | 25 |
Compensation expense recognized |  | 25 |  |  | 26 |  |  | 25 |
Income tax benefit recognized |  | 3 |  |  | 2 |  |  | — |
Consumers Energy Company |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Restricted Stock Activity | Presented in the following tables is the activity for restricted stock and restricted stock units under the PISP:
| CMS Energy, including Consumers |  | Consumers
Year Ended December 31, 2024 | Number of Shares | Weighted-average Grant Date Fair Value Per Share |  | Number of Shares | Weighted-average Grant Date Fair Value Per Share
Nonvested at beginning of period | 1,158,102 |  |  | $ | 59.50 |  |  | 1,094,366 |  |  | $ | 59.50 |
Granted |  |  |  |  |  |  |
Restricted stock | 606,746 |  |  | 44.76 |  |  | 562,139 |  |  | 44.49 |
Restricted stock units | 26,704 |  |  | 52.43 |  |  | 25,677 |  |  | 52.46 |
Vested |  |  |  |  |  |  |
Restricted stock | (467,039) |  |  | 45.88 |  |  | (441,913) |  |  | 45.89 |
Restricted stock units | (19,350) |  |  | 49.62 |  |  | (18,572) |  |  | 49.64 |
Forfeited – restricted stock | (142,376) |  |  | 42.68 |  |  | (140,124) |  |  | 43.37 |
Nonvested at end of period | 1,162,787 |  |  | $ | 59.34 |  |  | 1,081,573 |  |  | $ | 59.35 |
Year Ended December 31, 2024 | CMS Energy, including Consumers | Consumers
Granted |  |
Time-lapse awards | 130,512 |  | 117,525 |
Market-based awards | 165,238 |  | 153,513 |
Performance-based awards | 176,655 |  | 164,324 |
Restricted stock units | 22,744 |  | 21,880 |
Dividends on market-based awards | 14,518 |  | 13,634 |
Dividends on performance-based awards | 15,860 |  | 14,905 |
Dividends on restricted stock units | 3,960 |  | 3,797 |
Additional performance-based shares based on achievement of condition | 103,963 |  | 98,238 |
Total granted | 633,450 |  | 587,816 |
Schedule of Significant Assumptions | Presented in the following table are the most significant assumptions used to estimate the fair value of the market-based restricted stock awards:
Years Ended December 31 | 2024 | 2023 | 2022
Expected volatility | 20.2 | % | 30.3 | % | 27.3 | %
Expected dividend yield | 3.5 |  | 2.9 |  | 2.8 |
Risk-free rate | 4.1 |  | 3.9 |  | 1.4 |
Summary of Weighted-average Grant-date Fair Value | Presented in the following table is the weighted-average grant-date fair value of all awards under the PISP:
In Millions
Years Ended December 31 | 2024 | 2023 | 2022
CMS Energy, including Consumers |  |  |  |  |  |
Weighted-average grant-date fair value per share |  |  |  |  |  |
Restricted stock granted |  | $ | 44.76 |  |  | $ | 52.62 |  |  | $ | 48.69 |
Restricted stock units granted |  | 52.43 |  |  | 50.32 |  |  | 56.13 |
Consumers |  |  |  |  |  |
Weighted-average grant-date fair value per share |  |  |  |  |  |
Restricted stock granted |  | $ | 44.49 |  |  | $ | 52.42 |  |  | $ | 48.57 |
Restricted stock units granted |  | 52.46 |  |  | 50.34 |  |  | 56.07 |
Schedule of Amounts Related to Restricted Stock Awards and Restricted Stock Units | Presented in the following table are amounts related to restricted stock awards and restricted stock units:
In Millions
Years Ended December 31 | 2024 | 2023 | 2022
CMS Energy, including Consumers |  |  |  |  |  |
Fair value of shares that vested during the year |  | $ | 28 |  |  | $ | 20 |  |  | $ | 27 |
Compensation expense recognized |  | 27 |  |  | 28 |  |  | 26 |
Income tax benefit recognized |  | 3 |  |  | 3 |  |  | — |
Consumers |  |  |  |  |  |
Fair value of shares that vested during the year |  | $ | 27 |  |  | $ | 19 |  |  | $ | 25 |
Compensation expense recognized |  | 25 |  |  | 26 |  |  | 25 |
Income tax benefit recognized |  | 3 |  |  | 2 |  |  | — |

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