File No. 69-333
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER
RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935
_______________________________________________
TO BE FILED ANNUALLY PRIOR TO MARCH 1
_______________________________________________
CONSUMERS ENERGY COMPANY
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as
a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the
following information:
February 28, 2002
1. Name, state of organization, location and nature of business of claimant and every subsidiary thereof, other
than any exempt wholesale generator (EWG) or foreign utility company in which claimant directly or indirectly
holds an interest.
Consumers Energy Company
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Energy Company is a Michigan corporation engaged in the generation, purchase, transmission,
distribution and sell of electricity, and in the purchase, storage, transmission, distribution and sell of
natural gas, in the lower peninsula of the state of Michigan.
1. CMS Engineering Co.
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
CMS Engineering Company is a Michigan corporation engaged in offering design, engineering, project management
and related construction services to natural gas utilities, natural gas exploration and production companies,
and other energy businesses.
2. CMS Midland Holdings Company
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
CMS Midland Holdings Company is a Michigan corporation involved as a Limited Partner in the First Midland
Limited Partnership, a Delaware limited partnership, which leases assets to the Midland Cogeneration Venture
Limited Partnership, a Michigan limited partnership.
3. CMS Midland, Inc.
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
CMS Midland, Inc. is as Michigan corporation engaged as a 49% General Partner in the Midland Cogeneration
Venture Limited Partnership, a Michigan limited partnership.
4. Consumers Campus Holdings, LLC
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Campus Holdings, LLC is a Michigan limited liability company formed for the purpose of being the
lessee in the synthetic lease financing of the new Consumers Energy Company office building to be located in
downtown Jackson, Michigan.
5. Consumers EnergyGuard Services, Inc.
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers EnergyGuard Services, Inc., is a Michigan corporation formed for the purpose of marketing EnergyGuard,
a residential bill payment insurance product to Consumers' residential customers.
6. Consumers Funding LLC
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Funding LLC is a Delaware limited liability company formed for the purpose of acting as assignee of
property transferred by Consumers and issuer of securitization bonds.
7. Consumers Nuclear Services, LLC
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Nuclear Services, LLC is a Michigan limited liability company formed for the purpose of holding the
20% member interest in Nuclear Management LLC.
7.1 Nuclear Management Company, LLC (20%)
Address: 700 First Street, Hudson, Wisconsin 54016
Nuclear Management Company, LLC is a Wisconsin limited liability company formed to achieve enhanced
reliability and continued safe operation, to pursue overall excellence in nuclear power operations,
as well as to identify efficiencies in the provision of operating services to nuclear facilities.
8. Consumers Receivables Funding, LLC
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Receivables Funding, LLC is a Delaware limited liability company formed to buy certain accounts
receivables from Consumers Energy Company and sell them to a third party.
9. ES Services Company
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
ES Services Company is a Michigan corporation formed for the purpose of offering design, engineering, project
management and related services primarily to electric utilities and generation facilities.
10. MEC Development Corp.
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
MEC Development Corp. is a Michigan corporation that previously held assets transferred to and holder of certain
bonds issued by the Midland Cogeneration Venture Limited Partnership, a Michigan limited partnership.
11. Michigan Electric Transmission Company
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Michigan Electric Transmission Company is a Michigan corporation formed for the purpose of owning electric
transmission facilities acquired from Consumers.
12. Michigan Gas Storage Company
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Michigan Gas Storage Company is a Michigan corporation and a natural gas company within the meaning of the
Natural Gas Act engaged in the interstate transportation and storage of gas for a number of customers including
Consumers.
13. Consumers Parnall Holdings, LLC
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Parnall Holdings, LLC is a Michigan limited liability corporation formed for the
purpose of holding the interest of CEC Investments I, Inc. and related to the Parnall Road
building pending a purchase of the title to the land by Consumers.
14. Consumers Power Company Financing I
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Power Company Financing I is a Delaware Trust established to issue Trust Preferred Securities.
15. Consumers Power Company Financing II
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Power Company Financing II is a Delaware Trust established to issue Trust Preferred Securities.
16. Consumers Power Company Financing III
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Power Company Financing III is a Delaware Trust established to issue Trust Preferred Securities.
17. Consumers Power Company Financing IV
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Power Company Financing IV is a Delaware Trust established to issue Trust Preferred Securities.
18. Consumers Power Company Financing V
Address: 212 West Michigan Avenue, Jackson, Michigan 49201
Consumers Power Company Financing V is a Delaware Trust established to issue Trust Preferred Securities.
2. A brief description of the properties of claimant and each of its subsidiary public utility companies used for
the generation, transmission and distribution of electric energy for sale, or for the production, transmission and
distribution of natural or manufactured gas, indicating the location of principal generating plants, transmission
lines, producing fields, gas manufacturing plants, and electric and gas distribution facilities, including all such
properties which are outside the State in which claimant and its subsidiaries are organized and all transmission or
pipelines which deliver or receive electric energy or gas at the borders of such State.
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Claimant's subsidiary Consumers is a public utility. Its property and facilities used for the above-described purposes
are located within the State of Michigan and are described below.
(1) Electric Properties
Consumers' electric generation is supplied by the following plants:
2001 2001
Summer Net Demonstrated
Size and Year Capability (kWhs) Net Generation
Name and Location (Michigan) Entering Service (Thousands of
kWhs)
Coal Generation
J H Campbell 1&2 - West Olive 2 Units, 1962-1967 615,000 3,654,739
J H Campbell 3 - West Olive 1 Unit, 1980 765,140(a) 5,612,688
D E Karn - Essexville 2 Units, 1959-1961 515,000 3,611,668
B C Cobb - Muskegon 2 Units, 1956-1957 316,000 2,029,002
J R Whiting - Erie 3 Units, 1952-1953 326,000 2,119,458
J C Weadock - Essexville 2 Units, 1955-1958 310,000 2,175,729
Total Coal Generation 2,847,140 19,203,284
Oil/Gas Generation
B C Cobb - Muskegon 3 Units, 1999-2000 183,000 58,328
D E Karn - Essexville 2 Units, 1975-1977 1,276,000 928,427
Total Oil/Gas Generation 1,459,000 986,755
Hydroelectric
Conventional Hydro Generation 13 Plants, 1907-1949 73,540 422,576
Ludington Pumped Storage 6 Units, 1973 954,700(b) (553,135)(c)
Total Hydroelectric 1,028,240 (130,559)
Nuclear Generation
Palisades - South Haven 1 Unit, 1971 760,000 2,325,720
Total Nuclear Generation 760,000 2,325,720
Gas/Oil Combustion Turbine
Generation 8 Plants, 1966-1999 346,800(d) 14,711
Total Gas/Oil Combustion Turbine 346,800 14,711
Total owned generation 6,441,180 22,399,911
Purchased and Interchange Power Capacity 1,644,180(e)
TOTAL 8,085,360
(a) Represents Consumers' share of the capacity of the J H Campbell 3, net of 6.69 percent (ownership interests of the
Michigan Public Power Agency and Wolverine Power Supply Cooperative, Inc.).
(b) Represents Consumers' share of the capacity of Ludington. Consumers and Detroit Edison have 51 percent and 49
percent undivided ownership, respectively, in the plant.
(c) Represents Consumers' share of net pumped storage generation. This facility electrically pumps water during off-peak
hours for storage to later generate electricity during peak-demand hours.
(d) Includes 1.8 MW of distributed generation.
(e) Includes 1,240 MW of purchased contract capacity from the MCV Facility.
Electric subtransmission and distribution lines are located on or under public highways, streets, alleys or lands, except
where they are located on or under easements or other rights. Consumers owns 340 miles of high voltage distribution radial
lines. The subtransmission system consists of 4,152 structural miles of overhead lines and 16 subsurface miles of underground
lines. The distribution system consists of 54,380 structural miles of overhead lines and 7,801 subsurface miles of
underground lines.
Consumers owns substations having an aggregate transformer capacity of 28,868,000 kilovoltamperes.
On April 1, 2001, Consumers transferred its investment in electric transmission lines and substations to a wholly owned
subsidiary, Michigan Electric Transmission Company (METC). The transmission system consists of 4,288 structural miles of
overhead lines.
METC owns substations having an aggregate transformer capacity of 12,015,660 kilovoltamperes.
Consumers is interconnected with certain Michigan and neighboring utilities. Consumers owns the land and rights-of-way and
METC owns the non-land assets which connect with the electric transmission lines that deliver electric energy at or near the
Michigan state border to:
Indiana & Michigan Electric Company at the following interconnection points: Palisades-Cook No. 1, Palisades-Cook No. 2,
Argenta-Robinson Park and Argenta-Twin Branch; and Northern Indiana Public Service Company at the following interconnection
point: Barton Lake-Batavia.
(2) Gas Properties
Consumers' gas distribution and transmission system consists of 24,746 miles of distribution mains and 1,099 miles of
transmission lines throughout Michigan's lower peninsula. It owns and operates six compressor stations with a total of
113,680 installed horsepower. Consumers has 11 gas storage fields located across Michigan with an aggregate storage
capacity of 221.3 bcf.
Michigan Gas Storage's transmission system consists of 521 miles of pipelines within Michigan's lower peninsula. It
owns and operates two compressor stations with a total of 53,500 installed horsepower. Michigan Gas Storage has three gas
storage fields located in Osceola, Clare and Missaukee counties of Michigan with an aggregate storage capacity of 109.5
bcf.
In November 2001, Michigan Gas storage filed an application with the Federal Energy Regulatory Commission for a
declaration of exemption from provisions of the National Gas Act. Upon approval of the application, it is intended that
Michigan Gas Storage and its facilities would be merged into Consumers Energy Company.
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3. The following information for the last calendar year with respect to claimant and each of its subsidiary
public utility companies:
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ELECTRIC ENERGY
(a) Number of kWh of electric energy sold (at retail or wholesale).
kWh
Total Electric Energy Sold 38,934,189,814
(b) Number of kWh of electric energy distributed at retail outside Michigan.
kWh
Total Electric Energy Distributed Outside of the
State of Michigan 0
(c) Number of kWh of electric energy sold at wholesale outside Michigan or at Michigan's state line.
kWh
Total Electric Energy Sold at Wholesale Outside the 1,922,071,000
State of Michigan or at Michigan's State Line.
(d) Number of kWh of electric energy purchased outside Michigan or at Michigan's state line.
kWh
Total Electric Energy Purchased Outside of Michigan 6,932,983,000
NATURAL GAS
CMS Energy information reports for natural gas, as it does not deal with or in manufactured gas.
(a) Number of Mcf of natural gas distributed at retail.
Mcf
Total Natural Gas Distributed at Retail 230,729,000
(b) Number of Mcf of natural gas distributed at retail outside Michigan.
Mcf
Total Natural Gas Distributed at Retail 0
Outside the State of Michigan
(c) Number of Mcf of natural gas sold at wholesale outside Michigan or at Michigan's state line.
Mcf
Total Natural Gas Sold at Wholesale Outside Michigan 0
or at Michigan's State Line.
(d) Number of Mcf of natural gas purchased outside Michigan.
Mcf
Total Natural Gas Purchased Outside of Michigan 239,839,000
4. The following information for the reporting period with respect to claimant and each interest it holds directly
or indirectly in an EWG or a foreign utility company, stating monetary amounts in United States dollars:
(a) Name, location, business address and description of the facilities used by the EWG or foreign utility company for
the generation, transmission and distribution of electric energy for sale or for the distribution at retail of
natural or manufactured gas;
NONE
(b) Name of each system company that holds an interest in such EWG or foreign utility company; and description of the
interest held;
NONE
(c) Type and amount of the capital invested, directly or indirectly, by the holding company claiming exemption; any
direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company
claiming exemption; and any debt or other financial obligation for which there is recourse, directly or
indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign
utility company;
NONE
(d) Capitalization and earnings of the EWG or foreign utility company during the reporting period; and
NONE
(e) Identify any service, sales or construction contract(s) between the EWG or foreign utility company and a system
company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s).
NONE
Exhibit A-1 Consolidating statement of income and surplus of Claimant and its subsidiary companies for the calendar year
2001, together with a consolidating balance sheet of Claimant and its subsidiary companies as of the close of such
calendar year.
Exhibit B- Not Applicable
The above-named Claimant has caused this statement to be duly executed on its behalf by its authorized officer on this
28th day of February, 2002.
CONSUMERS ENERGY COMPANY
A Michigan corporation
[CORPORATE SEAL] By: /s/David A. Mikelonis .
David A. Mikelonis
Senior Vice President and General Counsel
ATTEST:
/s/Michael D. VanHemert
Michael D. VanHemert
Assistant Secretary
Name, title, and address of officer to whom notices and correspondence concerning this Statement should be addressed:
David A. Mikelonis
Senior Vice President and
General Counsel
Consumers Energy Company
2123 West Michigan Avenue
Jackson, Michigan 49201
EXHIBIT A
A consolidating statement of income and surplus of Consumers Energy Company and its subsidiary companies for the last calendar year,
together with a consolidating balance sheet of CMS Energy and its subsidiary companies as of the close of such calendar year is
attached.
CONSUMERS ENERGY COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 2001
(In Millions) Michigan CMS Inter-Company Consumers
Consumers Electric Midland CMS Eliminations Energy
Energy Transmission Consumers Holdings Midland Company
Company (1) Company Funding LLC Company Inc. Consol.
$2,649 $82 $0 $0 $0 $(98) $2,633
1,358 0 0 0 0 (20) 1,338
Operating Revenue 5 0 0 14 24 0 43
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Electric
Gas 4,012 82 0 14 24 (118) 4,014
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Other
Total operating revenue 330 0 0 0 0 0 330
Operating Expenses 604 0 0 0 0 (61) 543
Fuel for electric generation
Purchased power - 476 0 0 0 0 0 476
related parties 707 0 0 0 0 0 707
Purchased and interchange
power 143 0 0 0 0 (20) 123
Cost of gas sold
Cost of gas sold- 126 0 0 0 0 0 126
related parties 636 27 0 0 0 (28) 635
Loss on power purchases agreement- 202 10 0 0 0 (9) 203
MCV Partnership
Other 329 8 0 0 2 0 339
Maintenance 183 4 0 0 0 0 187
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Depreciation, depletion
and amortization 3,736 49 0 0 2 (118) 3,669
-------------- --------------- -------------- ------------ ---------- ---------- ----------
General Taxes
276 33 0 14 22 0 345
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Total operating expenses
Pretax Operating Income
49 1 3 0 1 (48) 6
Other Income (Deductions) (10) 0 0 0 0 0 (10)
Dividends and interest 56 0 0 0 0 (51) 5
-------------- --------------- -------------- ------------ ---------- ---------- ----------
from affiliates
Accretion expense
Other, net 95 1 3 0 1 (99) 1
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Total other income
(deductions) 148 0 3 0 0 0 151
88 0 0 0 0 (47) 41
Interest Charges (6) 0 0 0 0 0 (6)
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Interest on long-term debt
Other interest 230 0 3 0 0 (47) 186
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Capitalized interest
141 34 0 14 23 (52) 160
Net interest charges
26 12 0 3 8 0 49
Net Income (Loss) Before Income Taxes
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Income Taxes 115 22 0 11 15 (52) 111
Net Income (Loss) Before Cumulative
Effect of Change in Accounting (11) 0 0 0 0 0 (11)
Principle
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Cumulative Effect of Change in 104 22 0 11 15 (52) 100
Accounting for Derivative
Instruments
2 0 0 0 0 0 2
Net Income (Loss)
41 0 0 0 0 0 41
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Preferred Stock Dividends
Preferred Securities Distribution 61 22 0 11 15 (52) 57
-------------- --------------- -------------- ------------ ---------- ---------- ----------
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Net Income (Loss) Available
-------------- --------------- -------------- ------------ ---------- ---------- ----------
to Common Stockholder
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Dividends on Common Stock 191 0 0 0 0 (1) 190
-------------- --------------- -------------- ------------ ---------- ---------- ----------
Net Income (Loss) After Common
Dividends $(130) $22 $0 $11 $15 $(51) $(133)
============== =============== ============== ============ ========== ========== ==========
(1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering Company,
MEC Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing II,
Consumers Energy Company Financing III, Consumers Energy Company Financing IV, Consumers EnergyGuard Services,
Consumers Nuclear Services, LLC and Consumers Parnall Holdings, LLC
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet Assets
December 31, 2001
(In Millions)
Michigan CMS Inter-Company Consumers
Consumers Electric Consumers Midland CMS Eliminations Energy
Energy Transmission Funding LLC Holdings Midland Company
Company (1) Company Company Inc. Consol.
Plant (At original cost)
Electric $7,211 $450 $0 $0 $0 $0 $7,661
Gas 2,593 0 0 0 0 0 2,593
Other 23 0 0 0 0 0 23
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
9,827 450 0 0 0 0 10,277
Less accumulated depreciation,
depletion and amortization 5,715 219 0 0 0 0 5,934
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
4,112 231 0 0 0 0 4,343
Construction work-in-progress 435 29 0 0 0 0 464
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
4,547 260 0 0 0 0 4,807
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
Investments
Stock of affiliates 746 0 0 0 0 (687) 59
First Midland Limited
Partnership 0 0 0 253 0 0 253
Midland Cogeneration
Venture Limited Partnership 0 0 0 0 300 0 300
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
746 0 0 253 300 (687) 612
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
Current Assets
Cash and temporary cash
Investments 10 0 4 0 2 0 16
Accounts receivable and
accrued revenue 115 17 0 0 0 (7) 125
Accounts receivable -
related parties 49 27 1 0 0 (60) 17
Notes receivable -
related parties 0 0 16 0 10 (26) 0
Inventories at average cost -
Gas in underground storage 569 0 0 0 0 0 569
Materials and supplies 63 6 0 0 0 0 69
Generating plant fuel stock 52 0 0 0 0 0 52
Prepaid property taxes 144 0 0 0 0 0 144
Regulatory assets 19 0 0 0 0 0 19
Other 4 10 0 0 0 0 14
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
1,025 60 21 0 12 (93) 1,025
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
Non-current Assets
Regulatory Assets
Securitization costs 717 0 0 0 0 0 717
Postretirement benefits 209 0 0 0 0 0 209
Abandoned Midland project 12 0 0 0 0 0 12
Other 167 0 0 0 0 0 167
Nuclear decommissioning
trust funds 581 0 0 0 0 0 581
Long-term notes receivables -
related parties 536 0 453 0 0 (989) 0
Other 176 0 0 0 0 0 176
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
2,398 0 453 0 0 (989) 1,862
------------ ------------- ------------ ---------- ---------- ---------- -----------
Total Assets $8,716 $320 $474 $253 $312 $(1,769) $8,306
============= ============ ============ ========== ========== ========== ===========
(1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering
Company, MEC Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing
II, Consumers Energy Company Financing III, Consumers Energy Company Financing IV, Consumers EnergyGuard
Services, Consumers Nuclear Services, LLC and Consumers Parnall Holdings LLC.
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2001
(In Millions)
Consumers Michigan Consumers CMS CMS Inter-Company Consumers
Energy Electric Funding LLC Midland Midland Eliminations Energy
Company (1) Transmission Holdings Inc. Company
Company Company Consol.
Capitalization
Common Stockholders' Equity
Common stock $872 $0 $0 $0 $0 $(31) $841
Paid-in-capital 640 198 2 54 168 (430) 632
Revaluation capital 5 0 0 0 (8) 7 4
Retained earnings 412 22 0 35 137 (233) 373
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
1,929 220 2 89 297 (687) 1,850
Preferred stock 44 0 0 0 0 0 44
Company-obligated mandatorily
redeemable preferred
securities of subsidiaries 520 0 0 0 0 0 520
Long-term debt 2,019 0 453 0 0 0 2,472
Intercompany long-term
notes payable 989 0 0 0 0 (989) 0
Non-current portion of capital leases 56 0 0 0 0 0 56
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
5,557 220 455 89 297 (1,676) 4,942
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
Current Liabilities
Current portion of long-term
debt and capital leases 257 0 0 0 0 0 257
Notes Payable 416 0 0 0 0 0 416
Intercompany notes payable 26 0 0 0 0 (26) 0
Accounts payable 298 0 0 0 0 (7) 291
Accrued taxes 212 11 0 4 (8) 0 219
Accounts payable - related
parties 122 18 0 0 0 (60) 80
Deferred income taxes 12 0 0 0 0 0 12
Other 257 0 3 0 0 0 260
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
1,584 29 19 4 (8) (93) 1,535
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
Non-current Liabilities
Deferred income taxes 537 42 0 146 22 0 747
Postretirement benefits 279 0 0 0 0 0 279
Regulatory liabilities for
income taxes, net 276 0 0 0 0 0 276
Power purchase agreement -
MCV Partnership 169 0 0 0 0 0 169
Deferred investment tax credit 87 0 0 14 1 0 102
Other 227 29 0 0 0 0 256
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
1,575 71 0 160 23 0 1,829
------------ ------------- ------------ ---------- ---------- ---------- -----------
------------ ------------- ------------ ---------- ---------- ---------- -----------
Total Stockholders' Equity
and Liabilities $8,716 $320 $474 $253 $312 $(1,769) $8,306
============ ============= ============ ========== ========== ========== ===========
============ ============= ============ ========== ========== ========== ===========
(1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering Company, MEC
Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing II, Consumers Energy
Company Financing III, Consumers Energy Company Financing IV, Consumers EnergyGuard Services, Consumers Nuclear
Services, LLC and Consumers Parnall Holdings, LLC.
CONSUMERS ENERGY COMPANY
Consolidating Statement of Retained Earnings
December 31, 2001
(In Millions)
Michigan CMS Consumers
Consumers Electric Midland Energy
Energy Transmission Consumers Holdings CMS Intercompany Company
Company (1) Company Funding LLC Company Midland Eliminations Consol.
Inc.
Balance at January 1, 2001 $542 $0 $0 $24 $122 $(182) $506
Net Income (Loss) 104 22 0 11 15 (52) 100
Less Dividends Paid
Common Stock 191 0 0 0 0 (1) 190
Preferred Stock 2 0 0 0 0 0 2
Preferred Securities
Distributions 41 0 0 0 0 0 41
------------ --------------- -------------- ------------ ------------ --------------- ------------
------------ --------------- -------------- ------------ ------------ --------------- ------------
234 0 0 0 0 (1) 233
------------ --------------- -------------- ------------ ------------ --------------- ------------
------------ --------------- -------------- ------------ ------------ --------------- ------------
Balance at December 31, 2001 $412 $22 $0 $35 $137 $(233) $373
============ =============== ============== ============ ============ =============== ============
============ =============== ============== ============ ============ =============== ============
(1) Represents Consumers Energy Company, Michigan Gas Storage Company, ES Services Company, CMS Engineering Company, MEC
Development Corporation, Consumers Power Company Financing I, Consumers Energy Company Financing II, Consumers
Energy Company Financing III, Consumers Energy Company Financing IV, Consumers EnergyGuard Services, Consumers
Nuclear Services, LLC and Consumers Parnall Holdings, LLC.