CMS ENERGY CORP

For the period ended Mar 31, 2025. Filed Apr 24, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 24, 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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Contents

Consolidated Balance Sheets (Unaudited)

ASSETS
In Millions
	March 312025	December 312024
Current Assets
Cash and cash equivalents	$61	$44
Restricted cash and cash equivalents	60	75
Accounts receivable and accrued revenue, less allowance of $29 in 2025 and $23 in 2024	982	1,019
Accounts and notes receivable – related parties	10	17
Inventories at average cost
Gas in underground storage	247	435
Materials and supplies	302	291
Generating plant fuel stock	21	30
Deferred property taxes	360	448
Regulatory assets	173	229
Prepayments and other current assets	94	86
Total current assets	2,310	2,674
Plant, Property, and Equipment
Plant, property, and equipment, gross	33,782	33,434
Less accumulated depreciation and amortization	9,525	9,310
Plant, property, and equipment, net	24,257	24,124
Construction work in progress	1,990	1,766
Total plant, property, and equipment	26,247	25,890
Other Non-current Assets
Regulatory assets	3,543	3,569
Accounts receivable	26	26
Accounts and notes receivable – related parties	91	92
Postretirement benefits	1,550	1,514
Other	262	323
Total other non-current assets	5,472	5,524
Total Assets	$34,029	$34,088

LIABILITIES AND EQUITY
In Millions
	March 312025	December 312024
Current Liabilities
Current portion of long-term debt and finance leases	$458	$456
Notes payable	—	65
Accounts payable	832	917
Accounts payable – related parties	16	12
Accrued rate refunds	2	38
Accrued interest	125	130
Accrued taxes	515	678
Regulatory liabilities	99	111
Other current liabilities	162	185
Total current liabilities	2,209	2,592
Non-current Liabilities
Long-term debt	10,776	10,818
Long-term debt – related parties	823	823
Non-current portion of finance leases	68	69
Regulatory liabilities	4,173	4,067
Postretirement benefits	69	70
Asset retirement obligations	691	694
Deferred investment tax credit	121	122
Deferred income taxes	3,130	3,053
Other non-current liabilities	313	349
Total non-current liabilities	20,164	20,065
Commitments and Contingencies (Notes 1 and 2)
Equity
Common stockholder’s equity
Common stock, authorized 125.0 shares; outstanding 84.1 shares in both periods	841	841
Other paid-in capital	8,324	8,174
Accumulated other comprehensive loss	(11)	(11)
Retained earnings	2,465	2,390
Total common stockholder’s equity	11,619	11,394
Cumulative preferred stock, $4.50 series, authorized 7.5 shares; outstanding 0.4 shares in both periods	37	37
Total equity	11,656	11,431
Total Liabilities and Equity	$34,029	$34,088

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.