CMS Energy Corporation (CMS) Financial Statements (2023 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

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments164452168140153182
Cash and cash equivalents164452168140153182
Restricted cash and investments182417172117
Receivables1,5801,4291,5941,5521,2111,242
Inventory, net of allowances, customer advances and progress billings905499421465507539
Inventory905499421465507539
Regulatory asset574642333720
Disposal group, including discontinued operation  19    
Other current assets1131201128610183
Other undisclosed current assets596385038438392
Total current assets:3,4332,6272,4042,3312,4682,475
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 82   ✕✕
Operating lease, right-of-use asset 31   ✕✕
Property, plant and equipment22,71322,35221,03918,92618,12616,761
Long-term investments and receivables941012,7012,3521,7141,251
Long-term investments717170716964
Accounts and financing receivable, after allowance for credit loss23302,6312,2811,6451,187
Regulated entity, other noncurrent assets3,5952,2592,6532,4891,7431,764
Other noncurrent assets3101,414869739478799
Other undisclosed noncurrent assets1,095     
Total noncurrent assets:27,92026,12627,26224,50622,06120,575
TOTAL ASSETS:31,35328,75329,66626,83724,52923,050
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,5881,4971,2341,1631,2151,188
Interest and dividends payable✕✕10710610494103
Taxes payable✕✕515457437398360
Accounts payable 928875671622723725
Accrued liabilities660     
Debt1,101 1,4991,1279961,103
Regulatory liability1041461518715580
Due to related parties✕8117131015
Other liabilities166156156186147195
Other undisclosed current liabilities1839427128101203
Total current liabilities:2,9852,2043,0742,7042,6242,784
Noncurrent Liabilities
Long-term debt and lease obligation13,19012,04613,63411,95110,6849,214
Long-term debt, excluding current maturities13,12212,04613,63411,95110,6159,123
Capital lease obligations✕✕✕✕✕6991
Finance lease, liability68   ✕✕
Liabilities, other than long-term debt7,5837,2696,8257,0514,9426,574
Deferred revenue and credits✕✕✕✕✕✕87
Accumulated deferred investment tax credit12911211512099✕
Asset retirement obligations746628553477432430
Deferred tax liabilities, net✕✕✕✕✕ 1,269
Deferred income tax liabilities2,4072,2101,8631,655✕✕
Liability, pension and other postretirement and postemployment benefits108142152674436766
Regulatory liability3,7963,8023,7443,7423,6813,715
Other liabilities397375398383294307
Other undisclosed noncurrent liabilities  4656761,487 
Total noncurrent liabilities:20,77319,36120,51519,07817,11315,788
Total liabilities:23,75821,56523,58921,78219,73718,572
Equity
Equity, attributable to parent7,0156,6315,4965,0184,7554,441
Preferred stock224224    
Common stock333333
Additional paid in capital5,4905,4065,3655,1135,0885,019
Accumulated other comprehensive loss(52)(59)(86)(73)(65)(50)
Retained earnings (accumulated deficit)1,3501,057214(25)(271)(531)
Equity, attributable to noncontrolling interest580557581373737
Total equity:7,5957,1886,0775,0554,7924,478
TOTAL LIABILITIES AND EQUITY:31,35328,75329,66626,83724,52923,050

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues8,5967,3296,6806,8456,8736,583
Cost of revenue(5,201)(4,131)(3,436)(3,731)(3,915)(3,653)
Cost of goods and services sold(905)(593)(375)(493)(528)(1,255)
Gross profit:3,3953,1983,2443,1142,9582,930
Operating expenses(2,171)(2,052)(1,882)(1,875)(1,796)(1,592)
Operating income:1,2241,1461,3621,2391,1621,338
Nonoperating income (expense)1971778410970(14)
Investment income, nonoperating  3471112
Public utilities, allowance for funds used during construction, capitalized cost of equity  861065
Other nonoperating income (expense)(8)(9)(56)(9)(46)(70)
Interest and debt expense(519)(500)(561)(519)(458)(438)
Income from continuing operations before income taxes:902823885829774886
Income tax expense(93)(95)(133)(147)(115)(424)
Income from continuing operations:809728752682659462
Income before gain (loss) on sale of properties:✕✕1,330752682659462
Income from discontinued operations4602    
Net income:8131,330752682659462
Net income (loss) attributable to noncontrolling interest24233(2)(2)(2)
Net income attributable to parent:8371,353755680657460
Preferred stock dividends and other adjustments(10)(5)    
Net income available to common stockholders, diluted:8271,348755680657460

Comprehensive Income ($ in millions)
Annual | Quarterly

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:8131,330752682659462
Other comprehensive income (loss) 727(13)(8)(2)8
Other undisclosed comprehensive income (loss)     (8)
Comprehensive income:8201,357739674657462
Comprehensive income (loss), net of tax, attributable to noncontrolling interest24233(2)(2)(2)
Comprehensive income, net of tax, attributable to parent:8441,380742672655460

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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