CMS ENERGY CORP

For the period ended Jun 30, 2025. Filed Jul 31, 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.

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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Contents

Item 1. Financial Statements

Index to Financial Statements

Management’s Discussion and Analysis of Financial Condition and Results of Operations	16
CMS Energy Consolidated Financial Statements (Unaudited)	48
Consolidated Statements of Income (Unaudited)	48
Consolidated Statements of Comprehensive Income (Unaudited)	49
Consolidated Statements of Cash Flows (Unaudited)	51
Consolidated Balance Sheets (Unaudited)	52
Consolidated Statements of Changes in Equity (Unaudited)	54
Consumers Consolidated Financial Statements (Unaudited)	55
Consolidated Statements of Income (Unaudited)	55
Consolidated Statements of Comprehensive Income (Unaudited)	56
Consolidated Statements of Cash Flows (Unaudited)	57
Consolidated Balance Sheets (Unaudited)	58
Consolidated Statements of Changes in Equity (Unaudited)	60
Notes to the Unaudited Consolidated Financial Statements	61
1:	Regulatory Matters	61
2:	Contingencies and Commitments	62
3:	Financings and Capitalization	66
4:	Fair Value Measurements	70
5:	Financial Instruments	72
6:	Retirement Benefits	73
7:	Income Taxes	74
8:	Earnings Per Share—CMS Energy	75
9:	Revenue	76
10:	Reportable Segments	81
11:	Variable Interest Entities	89
12:	Exit Activities	92

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.