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

Consolidated Balance Sheets (Unaudited)

ASSETS
In Millions
	June 302025	December 312024
Current Assets
Cash and cash equivalents	$599	$44
Restricted cash and cash equivalents	81	75
Accounts receivable and accrued revenue, less allowance of $30 in 2025 and $23 in 2024	884	1,019
Accounts and notes receivable – related parties	10	17
Inventories at average cost
Gas in underground storage	402	435
Materials and supplies	296	291
Generating plant fuel stock	25	30
Deferred property taxes	324	448
Regulatory assets	132	229
Prepayments and other current assets	130	86
Total current assets	2,883	2,674
Plant, Property, and Equipment
Plant, property, and equipment, gross	34,406	33,434
Less accumulated depreciation and amortization	9,600	9,310
Plant, property, and equipment, net	24,806	24,124
Construction work in progress	2,253	1,766
Total plant, property, and equipment	27,059	25,890
Other Non-current Assets
Regulatory assets	3,570	3,569
Accounts receivable	74	26
Accounts and notes receivable – related parties	90	92
Postretirement benefits	1,586	1,514
Other	205	323
Total other non-current assets	5,525	5,524
Total Assets	$35,467	$34,088

LIABILITIES AND EQUITY
In Millions
	June 302025	December 312024
Current Liabilities
Current portion of long-term debt and finance leases	$576	$456
Notes payable	—	65
Accounts payable	1,029	917
Accounts payable – related parties	15	12
Accrued rate refunds	4	38
Accrued interest	140	130
Accrued taxes	522	678
Regulatory liabilities	93	111
Other current liabilities	152	185
Total current liabilities	2,531	2,592
Non-current Liabilities
Long-term debt	11,581	10,818
Long-term debt – related parties	1,004	823
Non-current portion of finance leases	86	69
Regulatory liabilities	4,164	4,067
Postretirement benefits	68	70
Asset retirement obligations	713	694
Deferred investment tax credit	120	122
Deferred income taxes	3,148	3,053
Other non-current liabilities	354	349
Total non-current liabilities	21,238	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	2,507	2,390
Total common stockholder’s equity	11,661	11,394
Cumulative preferred stock, $4.50 series, authorized 7.5 shares; outstanding 0.4 shares in both periods	37	37
Total equity	11,698	11,431
Total Liabilities and Equity	$35,467	$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.