CMS ENERGY CORP
For the period ended Jun 30, 2025. Filed Jul 31, 2025.
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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.
Jun 30, 2025 · Filed Jul 31, 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 Balance Sheets (Unaudited)
| ASSETS | ||
|---|---|---|
| In Millions | ||
| June 302025 | December 312024 | |
| Current Assets | ||
| Cash and cash equivalents | $844 | $103 |
| Restricted cash and cash equivalents | 81 | 75 |
| Accounts receivable and accrued revenue, less allowance of $30 in 2025 and $23 in 2024 | 924 | 1,049 |
| Accounts receivable – related parties | 12 | 14 |
| Inventories at average cost | ||
| Gas in underground storage | 402 | 435 |
| Materials and supplies | 305 | 299 |
| Generating plant fuel stock | 29 | 35 |
| Deferred property taxes | 324 | 448 |
| Regulatory assets | 132 | 229 |
| Prepayments and other current assets | 140 | 103 |
| Total current assets | 3,193 | 2,790 |
| Plant, Property, and Equipment | ||
| Plant, property, and equipment, gross | 35,962 | 34,932 |
| Less accumulated depreciation and amortization | 9,865 | 9,569 |
| Plant, property, and equipment, net | 26,097 | 25,363 |
| Construction work in progress | 2,750 | 2,098 |
| Total plant, property, and equipment | 28,847 | 27,461 |
| Other Non‑current Assets | ||
| Regulatory assets | 3,570 | 3,569 |
| Accounts receivable | 68 | 20 |
| Investments | 62 | 69 |
| Postretirement benefits | 1,705 | 1,627 |
| Other | 254 | 384 |
| Total other non‑current assets | 5,659 | 5,669 |
| Total Assets | $37,699 | $35,920 |
| LIABILITIES AND EQUITY | ||
|---|---|---|
| In Millions | ||
| June 302025 | December 312024 | |
| Current Liabilities | ||
| Current portion of long-term debt and finance leases | $1,125 | $1,195 |
| Notes payable | — | 65 |
| Accounts payable | 1,139 | 1,085 |
| Accounts payable – related parties | 7 | 8 |
| Accrued rate refunds | 4 | 38 |
| Accrued interest | 170 | 156 |
| Accrued taxes | 461 | 654 |
| Regulatory liabilities | 93 | 111 |
| Other current liabilities | 197 | 209 |
| Total current liabilities | 3,196 | 3,521 |
| Non‑current Liabilities | ||
| Long-term debt | 16,781 | 15,194 |
| Non-current portion of finance leases | 139 | 112 |
| Regulatory liabilities | 4,164 | 4,067 |
| Postretirement benefits | 93 | 96 |
| Asset retirement obligations | 747 | 728 |
| Deferred investment tax credit | 120 | 122 |
| Deferred income taxes | 3,079 | 2,925 |
| Other non‑current liabilities | 409 | 407 |
| Total non‑current liabilities | 25,532 | 23,651 |
| Commitments and Contingencies (Notes 1 and 2) | ||
| Equity | ||
| Common stockholders’ equity | ||
| Common stock, authorized 350.0 shares in both periods; outstanding 299.3 shares in 2025 and 298.8 shares in 2024 | 3 | 3 |
| Other paid-in capital | 5,998 | 6,009 |
| Accumulated other comprehensive loss | (41) | (41) |
| Retained earnings | 2,210 | 2,035 |
| Total common stockholders’ equity | 8,170 | 8,006 |
| Cumulative redeemable perpetual preferred stock, Series C, authorized 9.2 depositary shares; outstanding 9.2 depositary shares in both periods | 224 | 224 |
| Total stockholders’ equity | 8,394 | 8,230 |
| Noncontrolling interests | 577 | 518 |
| Total equity | 8,971 | 8,748 |
| Total Liabilities and Equity | $37,699 | $35,920 |
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