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 | $1,009 | $867 | $945 |
| Adjustments to reconcile net income to net cash provided by operating activities | |||
| Depreciation and amortization | 1,191 | 1,137 | 1,088 |
| Deferred income taxes and investment tax credits | 115 | 156 | 134 |
| Bad debt expense | 33 | 34 | 50 |
| Postretirement benefits contributions | (9) | (9) | (9) |
| Other non‑cash operating activities and reconciling adjustments | (137) | (123) | (87) |
| Changes in assets and liabilities | |||
| Accounts and notes receivable and accrued revenue | (153) | 219 | (660) |
| Inventories | 164 | 186 | (447) |
| Accounts payable and accrued rate refunds | 19 | (127) | (9) |
| Other current assets and liabilities | 75 | (35) | 18 |
| Other non-current assets and liabilities | 139 | 125 | (29) |
| Net cash provided by operating activities | 2,446 | 2,430 | 994 |
| Cash Flows from Investing Activities | |||
| Capital expenditures (excludes assets placed under finance lease) | (2,842) | (2,248) | (2,239) |
| Covert Generating Station acquisition | — | (812) | — |
| Proceeds from sale of ASP business | 124 | — | — |
| Cost to retire property and other investing activities | (154) | (141) | (105) |
| Net cash used in investing activities | (2,872) | (3,201) | (2,344) |
| Cash Flows from Financing Activities | |||
| Proceeds from issuance of debt | 1,297 | 2,666 | 1,799 |
| Retirement of debt | (389) | (1,654) | (28) |
| Increase (decrease) in notes payable | (28) | 73 | 20 |
| Decrease in notes payable – related parties | — | (75) | (317) |
| Stockholder contribution | 735 | 475 | 685 |
| Return of stockholder contribution | (320) | — | — |
| Payment of dividends on common and preferred stock | (797) | (697) | (771) |
| Other financing costs | (9) | (21) | (22) |
| Net cash provided by financing activities | 489 | 767 | 1,366 |
| Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts | 63 | (4) | 16 |
| Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period | 56 | 60 | 44 |
| Cash and Cash Equivalents, Including Restricted Amounts, End of Period | $119 | $56 | $60 |
| In Millions | |||
|---|---|---|---|
| Years Ended December 31 | 2024 | 2023 | 2022 |
| Other Cash Flow Activities and Non‑cash Investing and Financing Activities | |||
| Cash transactions | |||
| Interest paid (net of amounts capitalized) | $484 | $417 | $309 |
| Income taxes paid (proceeds from sale of renewable energy tax credits), net | (19) | 31 | (2) |
| Non‑cash transactions | |||
| Capital expenditures not paid | $395 | $264 | $210 |
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