CMS ENERGY CORP
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
CMS$69.78+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| In Millions | |||
|---|---|---|---|
| Years Ended December 31 | 2024 | 2023 | 2022 |
| Cash Flows from Operating Activities | |||
| Net income | $947 | $808 | $813 |
| Adjustments to reconcile net income to net cash provided by operating activities | |||
| Depreciation and amortization | 1,240 | 1,180 | 1,126 |
| Deferred income taxes and investment tax credits | 142 | 157 | 89 |
| Bad debt expense | 33 | 34 | 50 |
| Postretirement benefits contributions | (13) | (12) | (12) |
| Gain from sale of EnerBank | — | — | (5) |
| Other non‑cash operating activities and reconciling adjustments | (241) | (274) | (93) |
| Changes in assets and liabilities | |||
| Accounts receivable and accrued revenue | (155) | 241 | (677) |
| Inventories | 164 | 185 | (450) |
| Accounts payable and accrued rate refunds | 15 | (136) | 4 |
| Other current assets and liabilities | 42 | (21) | 14 |
| Other non‑current assets and liabilities | 196 | 147 | (4) |
| Net cash provided by operating activities | 2,370 | 2,309 | 855 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (excludes assets placed under finance lease) | (3,018) | (2,407) | (2,374) |
| Covert Generating Station acquisition | — | (812) | — |
| Net proceeds from sale of EnerBank | — | — | 5 |
| Proceeds from sale of ASP business | 124 | — | — |
| Cost to retire property and other investing activities | (160) | (167) | (107) |
| Net cash used in investing activities | (3,054) | (3,386) | (2,476) |
| Cash Flows from Financing Activities | |||
| Proceeds from issuance of debt | 1,962 | 3,551 | 1,899 |
| Retirement of debt | (952) | (2,132) | (106) |
| Increase (decrease) in notes payable | (28) | 73 | 20 |
| Issuance of common stock | 286 | 192 | 69 |
| Payment of dividends on common and preferred stock | (626) | (579) | (544) |
| Proceeds from the sale of membership interest in VIE to tax equity investor | — | 86 | 49 |
| Contributions from noncontrolling interests | 5 | 6 | 2 |
| Distributions to noncontrolling interests | (12) | (12) | (4) |
| Other financing costs | (21) | (42) | (58) |
| Net cash provided by financing activities | 614 | 1,143 | 1,327 |
| In Millions | |||
|---|---|---|---|
| Years Ended December 31 | 2024 | 2023 | 2022 |
| Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts | (70) | 66 | (294) |
| Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period | 248 | 182 | 476 |
| Cash and Cash Equivalents, Including Restricted Amounts, End of Period | $178 | $248 | $182 |
| Other Cash Flow Activities and Non‑cash Investing and Financing Activities | |||
| Cash transactions | |||
| Interest paid (net of amounts capitalized) | $677 | $607 | $490 |
| Income taxes paid (proceeds from sale of renewable energy tax credits), net | (69) | 15 | 1 |
| Non‑cash transactions | |||
| Capital expenditures not paid | $517 | $265 | $228 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.