CMS ENERGY CORP
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 11, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
6: Financial Instruments
Presented in the following table are the carrying amounts and fair values, by level within the fair value hierarchy, of CMS Energy’s and Consumers’ financial instruments that are not recorded at fair value. The table excludes cash, cash equivalents, short-term financial instruments, and trade accounts receivable and payable whose carrying amounts approximate their fair values. For information about assets and liabilities recorded at fair value and for additional details regarding the fair value hierarchy, see Note 5, Fair Value Measurements.
| In Millions | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 31, 2024 · December 31, 2023 | ||||||||||||||
| Carrying Amount · Fair Value · Carrying Amount · Fair Value | ||||||||||||||
| Total · Level · Total · Level | ||||||||||||||
| 1 | 2 | 3 | 1 | 2 | 3 | |||||||||
| CMS Energy, including Consumers | ||||||||||||||
| Assets | ||||||||||||||
| Long-term receivables1 | $9 | $8 | $— | $— | $8 | $11 | $11 | $— | $— | $11 | ||||
| Liabilities | ||||||||||||||
| Long-term debt2 | 16,386 | 14,876 | 1,018 | 11,952 | 1,906 | 15,483 | 14,305 | 1,103 | 11,186 | 2,016 | ||||
| Long-term payables3 | 9 | 9 | — | — | 9 | 11 | 11 | — | — | 11 | ||||
| Consumers | ||||||||||||||
| Assets | ||||||||||||||
| Long-term receivables1 | $9 | $8 | $— | $— | $8 | $11 | $11 | $— | $— | $11 | ||||
| Notes receivable – related party4 | 94 | 94 | — | — | 94 | 97 | 97 | — | — | 97 | ||||
| Liabilities | ||||||||||||||
| Long-term debt5 | 11,270 | 9,940 | — | 8,034 | 1,906 | 10,762 | 9,757 | — | 7,741 | 2,016 | ||||
| Long-term debt – related party6 | 823 | 549 | — | 549 | — | 424 | 303 | — | 303 | — | ||||
| Long-term payables | 4 | 4 | — | — | 4 | 5 | 5 | — | — | 5 | ||||
1 Includes current portion of long-term accounts receivable and notes receivable of $4 million at December 31, 2024 and $6 million at December 31, 2023.
2 Includes current portion of long-term debt of $1.2 billion at December 31, 2024 and $975 million at December 31, 2023.
3 Includes current portion of long-term payables of $2 million at December 31, 2024 and December 31, 2023.
4 Includes current portion of notes receivable – related party of $7 million at December 31, 2024 and 2023. For more information on notes receivable – related party, see Note 17, Related-party Transactions—Consumers.
5 Includes current portion of long-term debt of $452 million at December 31, 2024 and $725 million at December 31, 2023.
6 For more information on CMS Energy’s repurchases of Consumers’ first mortgage bonds, see Note 4, Financings and Capitalization—CMS Energy’s Purchase of Consumers’ First Mortgage Bonds.
Notes receivable – related party represents Consumers’ portion of the DB SERP demand note payable issued by CMS Energy to the DB SERP rabbi trust. The demand note bears interest at an annual rate of 4.10 percent and has a maturity date of 2028.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.