CMS ENERGY CORP
For the period ended Dec 31, 2025. Filed Feb 10, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 10, 2026
CMS$69.78+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
| In Millions | |||
|---|---|---|---|
| Years Ended December 31 | 2025 | 2024 | 2023 |
| Operating Revenue | $8,132 | $7,200 | $7,166 |
| Operating Expenses | |||
| Fuel for electric generation | 535 | 511 | 435 |
| Purchased and interchange power | 1,564 | 1,285 | 1,331 |
| Purchased power – related parties | 94 | 71 | 75 |
| Cost of gas sold | 803 | 637 | 897 |
| Maintenance and other operating expenses | 1,614 | 1,520 | 1,586 |
| Depreciation and amortization | 1,254 | 1,191 | 1,137 |
| General taxes | 499 | 470 | 437 |
| Total operating expenses | 6,363 | 5,685 | 5,898 |
| Operating Income | 1,769 | 1,515 | 1,268 |
| Other Income (Expense) | |||
| Non-operating retirement benefits, net | 175 | 157 | 171 |
| Other income | 55 | 85 | 49 |
| Other expense | (22) | (30) | (12) |
| Total other income | 208 | 212 | 208 |
| Interest Charges | |||
| Interest on long-term debt | 521 | 488 | 415 |
| Interest expense – related parties | 41 | 31 | 20 |
| Other interest expense | 8 | 12 | 16 |
| Allowance for borrowed funds used during construction | (10) | (13) | (3) |
| Total interest charges | 560 | 518 | 448 |
| Income Before Income Taxes | 1,417 | 1,209 | 1,028 |
| Income Tax Expense | 288 | 200 | 161 |
| Net Income | 1,129 | 1,009 | 867 |
| Preferred Stock Dividends | 2 | 2 | 2 |
| Net Income Available to Common Stockholder | $1,127 | $1,007 | $865 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.