CMS Energy Corporation (CMS) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE ENERGY PLAZA
JACKSON, MI 49201
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 4931 - Electric and Other Services Combined (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15738957116416877
Cash and cash equivalents15738957116416877
Restricted cash and investments271727182719
Receivables2953121,4691,5801,5441,391
Inventory, net of allowances, customer advances and progress billings8056434989051,108661
Inventory8056434989051,108661
Regulatory asset169182203571523
Other current assets91125130113103167
Other undisclosed current assets905935915966155
Total current assets:2,4492,6032,9893,4333,0262,393
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   82  
Operating lease, right-of-use asset   31  
Property, plant and equipment24,69424,26423,00322,71322,34021,627
Long-term investments and receivables1049695949898
Long-term investments747272717069
Accounts and financing receivable, after allowance for credit loss302423232829
Regulated entity, other noncurrent assets3,7933,8073,8043,5953,4273,367
Other noncurrent assets1662212543101,4811,555
Other undisclosed noncurrent assets1,3071,2741,2411,095  
Total noncurrent assets:30,06429,66228,39727,92027,34626,647
TOTAL ASSETS:32,51332,26531,38631,35330,37229,040
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3165501,2121,5881,5391,904
Interest and dividends payable✕✕✕✕✕117107
Taxes payable✕✕✕✕✕178392
Accounts payable   679928949906
Accrued liabilities316550533660295499
Debt1,0381,1271,4261,101  
Regulatory liability75881071046776
Due to related parties✕✕✕8878
Other liabilities163187154166170181
Other undisclosed current liabilities1,1277853518705220
Total current liabilities:2,7192,7372,9422,9852,4882,389
Noncurrent Liabilities
Long-term debt and lease obligation14,17713,99013,05113,19012,68511,667
Long-term debt, excluding current maturities14,11413,92512,98513,12212,68511,667
Finance lease, liability63656668  
Liabilities, other than long-term debt7,8597,8327,7417,5837,6257,469
Accumulated deferred investment tax credit127127128129130131
Asset retirement obligations768759762746747620
Deferred income tax liabilities2,5412,5032,4512,4072,3672,326
Liability, pension and other postretirement and postemployment benefits105106107108136137
Regulatory liability3,8893,9223,8863,7963,8623,873
Other liabilities429415407397383382
Other undisclosed noncurrent liabilities     7044
Total noncurrent liabilities:22,03621,82220,79220,77320,38019,180
Total liabilities:24,75524,55923,73423,75822,86821,569
Equity
Equity, attributable to parent7,1867,1457,0807,0156,9136,878
Preferred stock224224224224224224
Common stock333333
Additional paid in capital5,5155,5065,4945,4905,4235,417
Accumulated other comprehensive loss(51)(51)(51)(52)(52)(52)
Retained earnings1,4951,4631,4101,3501,3151,286
Equity, attributable to noncontrolling interest572561572580591593
Total equity:7,7587,7067,6527,5957,5047,471
TOTAL LIABILITIES AND EQUITY:32,51332,26531,38631,35330,37229,040

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues1,6731,5552,2842,2782,0241,920
Cost of revenue(864)(808)(1,397)(1,303)(1,266)(1,200)
Cost of goods and services sold(162)(110)(137)(185)(312)(241)
Gross profit:809747887975758720
Operating expenses(538)(503)(573)(704)(500)(481)
Operating income:271244314271258239
Nonoperating income7714656525443
Other nonoperating income (expense)3210111 (3)(11)
Interest and debt expense(164)(160)(147)(139)(130)(126)
Income from continuing operations before income taxes:184230223184182156
Income tax expense(11)(41)(29)(21)(19)(14)
Income from continuing operations:173189194163163142
Income before gain (loss) on sale of properties:✕✕✕✕✕163142
Income from discontinued operations  1    
Net income:173190194163163142
Net income attributable to noncontrolling interest3810826
Net income attributable to parent:176198204171165148
Preferred stock dividends and other adjustments(2)(3)(2)(3)(2)(3)
Net income available to common stockholders, diluted:174195202168163145

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income:173190194163163142
Other comprehensive income (loss)(1) 1 12
Other undisclosed comprehensive income (loss) 1   (1) 
Comprehensive income:173190195163163144
Comprehensive income, net of tax, attributable to noncontrolling interest3810826
Comprehensive income, net of tax, attributable to parent:176198205171165150

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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