CMS ENERGY CORP

For the period ended Jun 30, 2026. Filed Jul 28, 2026.

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, 2026 · Filed Jul 28, 2026

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 302026	December 312025
Current Assets
Cash and cash equivalents	$241	$509
Restricted cash and cash equivalents	104	106
Accounts receivable and accrued revenue, less allowance of $32 in 2026 and $27 in 2025	1,008	1,306
Accounts receivable – related parties	15	17
Inventories at average cost
Gas in underground storage	414	427
Materials and supplies	345	329
Generating plant fuel stock	65	35
Deferred property taxes	350	479
Regulatory assets	81	104
Prepayments and other current assets	243	160
Total current assets	2,866	3,472
Plant, Property, and Equipment
Plant, property, and equipment, gross	39,227	37,763
Less accumulated depreciation and amortization	10,496	10,135
Plant, property, and equipment, net	28,731	27,628
Construction work in progress	3,598	3,052
Total plant, property, and equipment	32,329	30,680
Other Non‑current Assets
Regulatory assets	3,274	3,355
Accounts receivable	18	18
Investments	63	61
Postretirement benefits	2,053	1,957
Other	302	398
Total other non‑current assets	5,710	5,789
Total Assets	$40,905	$39,941

LIABILITIES AND EQUITY
In Millions
	June 302026	December 312025
Current Liabilities
Current portion of long-term debt and finance leases	$870	$956
Accounts payable	1,223	1,395
Accounts payable – related parties	6	9
Accrued rate refunds	—	28
Accrued interest	183	182
Accrued taxes	498	708
Regulatory liabilities	96	85
Other current liabilities	187	185
Total current liabilities	3,063	3,548
Non‑current Liabilities
Long-term debt	18,172	17,807
Non-current portion of finance leases	259	135
Regulatory liabilities	4,152	4,091
Postretirement benefits	93	95
AROs	808	792
Deferred investment tax credit	116	118
Deferred income taxes	3,399	3,252
Other non‑current liabilities	444	392
Total non‑current liabilities	27,443	26,682
Commitments and Contingencies (Notes 2, 3, and 8)
Equity
Common stockholders’ equity
Common stock, authorized 700.0 shares in 2026 and 350.0 shares in 2025; outstanding 313.6 shares in 2026 and 306.4 shares in 2025	3	3
Other paid-in capital	7,036	6,510
Accumulated other comprehensive loss	(35)	(36)
Retained earnings	2,546	2,443
Total common stockholders’ equity	9,550	8,920
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	9,774	9,144
Noncontrolling interests	625	567
Total equity	10,399	9,711
Total Liabilities and Equity	$40,905	$39,941

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.