CMS Energy Corporation (CMS) financial statements (2021 and earlier)
Company profile
| Business Address |
ONE ENERGY PLAZA JACKSON, MI 49201 |
| State of Incorp. | MI |
| Fiscal Year End | December 31 |
| SIC | 4931 - Electric and Other Services Combined (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 168 | 140 | 153 | 182 | 235 | 266 | 207 | ||
| Cash and cash equivalents | 168 | 140 | 153 | 182 | 235 | 266 | 207 | ||
| Restricted cash and investments | 17 | 17 | 21 | 17 | 19 | 19 | 37 | ||
| Receivables | 1,594 | 1,552 | 1,211 | 1,242 | 1,013 | 913 | 990 | ||
| Inventory, net of allowances, customer advances and progress billings | 421 | 465 | 507 | 539 | 507 | 652 | 801 | ||
| Inventory | 421 | 465 | 507 | 539 | 507 | 652 | 801 | ||
| Deferred costs | 27 | ||||||||
| Regulatory current assets | 42 | 33 | 37 | 20 | 17 | 16 | 89 | ||
| Other current assets | 112 | 86 | 101 | 83 | 81 | 77 | 72 | ||
| Other undisclosed current assets | 50 | 38 | 438 | 392 | 408 | 377 | 374 | ||
| Total current assets: | 2,404 | 2,331 | 2,468 | 2,475 | 2,280 | 2,320 | 2,597 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 21,039 | 18,926 | 18,126 | 16,761 | 15,715 | 14,705 | 13,412 | ||
| Long-term investments and receivables | 2,701 | 2,352 | 1,714 | 1,251 | 1,183 | 1,091 | 868 | ||
| Long-term investments | 70 | 71 | 69 | 64 | 65 | 64 | 61 | ||
| Accounts and financing receivable, after allowance for credit loss | 2,631 | 2,281 | 1,645 | 1,187 | 1,118 | 1,027 | 807 | ||
| Intangible assets, net (including goodwill) | 673 | ||||||||
| Intangible assets, net (excluding goodwill) | 673 | ||||||||
| Regulated entity, other noncurrent assets | 2,653 | 2,489 | 1,743 | 1,764 | 2,091 | 1,840 | 1,956 | ||
| Other noncurrent assets | 869 | 739 | 478 | 799 | 353 | 384 | 352 | ||
| Other undisclosed noncurrent assets | (14,085) | ||||||||
| Total noncurrent assets: | 27,262 | 24,506 | 22,061 | 20,575 | 19,342 | 18,020 | 3,176 | ||
| Other undisclosed assets | 13,412 | ||||||||
| TOTAL ASSETS: | 29,666 | 26,837 | 24,529 | 23,050 | 21,622 | 20,340 | 19,185 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 1,234 | 1,163 | 1,215 | 1,188 | 1,044 | 1,088 | 1,102 | ||
| Accounts payable | 671 | 622 | 723 | 725 | 598 | 633 | 678 | ||
| Taxes payable | 457 | 437 | 398 | 360 | 348 | 349 | 316 | ||
| Interest and dividends payable | 106 | 104 | 94 | 103 | 98 | 106 | 108 | ||
| Debt | 1,499 | 1,127 | 996 | 1,103 | 886 | 706 | 540 | ||
| Regulatory liability | 151 | 87 | 155 | 80 | 95 | 82 | 67 | ||
| Due to related parties | 7 | 13 | 10 | 15 | 12 | 9 | 10 | ||
| Deferred tax liabilities | ✕ | ✕ | 66 | ||||||
| Other liabilities | 156 | 186 | 147 | 195 | 199 | 142 | 163 | ||
| Other undisclosed current liabilities | 27 | 128 | 101 | 203 | 419 | 275 | 66 | ||
| Total current liabilities: | 3,074 | 2,704 | 2,624 | 2,784 | 2,655 | 2,302 | 2,014 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 13,634 | 11,951 | 10,684 | 9,214 | 8,750 | 8,559 | 8,139 | ||
| Long-term debt, excluding current maturities | 13,634 | 11,951 | 10,615 | 9,123 | 8,640 | 8,441 | 8,016 | ||
| Capital lease obligations | ✕ | ✕ | 69 | 91 | 110 | 118 | 123 | ||
| Liabilities, other than long-term debt | 6,825 | 7,051 | 4,942 | 6,574 | 5,927 | 5,504 | 5,325 | ||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 87 | 73 | 56 | 37 | ||
| Accumulated deferred investment tax credit | 115 | 120 | 99 | ✕ | ✕ | ✕ | ✕ | ||
| Asset retirement obligations | 553 | 477 | 432 | 430 | 447 | 439 | 340 | ||
| Deferred tax liabilities, net | ✕ | ✕ | 1,269 | 2,287 | 2,017 | 1,682 | |||
| Deferred income tax liabilities | 1,863 | 1,655 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liability, pension and other postretirement and postemployment benefits | 152 | 674 | 436 | 766 | 789 | 591 | 872 | ||
| Regulatory liability | 3,744 | 3,742 | 3,681 | 3,715 | 2,041 | 2,088 | 2,095 | ||
| Other liabilities | 398 | 383 | 294 | 307 | 290 | 313 | 299 | ||
| Other undisclosed noncurrent liabilities | 56 | 76 | 1,487 | ||||||
| Total noncurrent liabilities: | 20,515 | 19,078 | 17,113 | 15,788 | 14,677 | 14,063 | 13,464 | ||
| Total liabilities: | 23,589 | 21,782 | 19,737 | 18,572 | 17,332 | 16,365 | 15,478 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 5,496 | 5,018 | 4,755 | 4,441 | 4,253 | 3,938 | 3,670 | ||
| Common stock | 3 | 3 | 3 | 3 | 3 | 3 | 3 | ||
| Additional paid in capital | 5,365 | 5,113 | 5,088 | 5,019 | 4,916 | 4,837 | 4,774 | ||
| Accumulated other comprehensive loss | (86) | (73) | (65) | (50) | (50) | (47) | (49) | ||
| Retained earnings (accumulated deficit) | 214 | (25) | (271) | (531) | (616) | (855) | (1,058) | ||
| Stockholders' equity attributable to noncontrolling interest | 581 | 37 | 37 | 37 | 37 | 37 | 37 | ||
| Total stockholders' equity: | 6,077 | 5,055 | 4,792 | 4,478 | 4,290 | 3,975 | 3,707 | ||
| TOTAL LIABILITIES AND EQUITY: | 29,666 | 26,837 | 24,529 | 23,050 | 21,622 | 20,340 | 19,185 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 6,680 | 6,845 | 6,873 | 6,583 | 6,399 | 6,456 | 7,179 | |
| Cost of revenue | (3,436) | (3,731) | (3,915) | (3,653) | (3,541) | (3,624) | (2,174) | |
| Cost of goods and services sold | (375) | (493) | (528) | (1,255) | (1,209) | (1,554) | (2,166) | |
| Gross profit: | 3,244 | 3,114 | 2,958 | 2,930 | 2,858 | 2,832 | 5,005 | |
| Operating expenses | (1,882) | (1,875) | (1,796) | (1,592) | (1,561) | (1,669) | (6,027) | |
| Other undisclosed operating income | 2,174 | |||||||
| Operating income: | 1,362 | 1,239 | 1,162 | 1,338 | 1,297 | 1,163 | 1,152 | |
| Nonoperating income (expense) | 84 | 109 | 70 | (14) | (36) | 29 | (16) | |
| Investment income, nonoperating | 4 | 7 | 11 | 12 | 6 | 12 | 5 | |
| Public utilities, allowance for funds used during construction, capitalized cost of equity | 6 | 10 | 6 | 5 | 12 | 10 | 8 | |
| Other nonoperating expense | (56) | (9) | (46) | (70) | (67) | (7) | (44) | |
| Interest and debt expense | (561) | (519) | (458) | (438) | (435) | (396) | (427) | |
| Income from continuing operations before equity method investments, income taxes: | 885 | 829 | 774 | 886 | 826 | 796 | 709 | |
| Income from equity method investments | 15 | |||||||
| Other undisclosed income from continuing operations before income taxes | 5 | |||||||
| Income from continuing operations before income taxes: | 885 | 829 | 774 | 886 | 826 | 796 | 729 | |
| Income tax expense | (133) | (147) | (115) | (424) | (273) | (271) | (250) | |
| Net income: | 752 | 682 | 659 | 462 | 553 | 525 | 479 | |
| Net income (loss) attributable to noncontrolling interest | 3 | (2) | (2) | (2) | (2) | (2) | (2) | |
| Net income available to common stockholders, diluted: | 755 | 680 | 657 | 460 | 551 | 523 | 477 | |
Comprehensive Income ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 752 | 682 | 659 | 462 | 553 | 525 | 479 | |
| Other comprehensive income (loss) | (13) | (8) | (2) | 8 | (3) | 2 | (27) | |
| Other undisclosed comprehensive loss | (8) | |||||||
| Comprehensive income: | 739 | 674 | 657 | 462 | 550 | 527 | 452 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 3 | (2) | (2) | (2) | (2) | (2) | (2) | |
| Comprehensive income, net of tax, attributable to parent: | 742 | 672 | 655 | 460 | 548 | 525 | 450 | |
Statements sources
The financial statements are based on the company's filings with the 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.