CMS ENERGY CORP
For the period ended Sep 30, 2026. Filed Oct 27, 2026.
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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.
Sep 30, 2026 · Filed Oct 27, 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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Consolidated Balance Sheets (Unaudited)
| ASSETS | ||
|---|---|---|
| In Millions | ||
| September 302026 | December 312025 | |
| Current Assets | ||
| Cash and cash equivalents | $451 | $509 |
| Restricted cash and cash equivalents | 102 | 106 |
| Accounts receivable and accrued revenue, less allowance of $42 in 2026 and $27 in 2025 | 1,137 | 1,306 |
| Accounts receivable – related parties | 15 | 17 |
| Inventories at average cost | ||
| Gas in underground storage | 551 | 427 |
| Materials and supplies | 342 | 329 |
| Generating plant fuel stock | 40 | 35 |
| Deferred property taxes | 318 | 479 |
| Regulatory assets | 59 | 104 |
| Assets held for sale | 43 | — |
| Prepayments and other current assets | 148 | 160 |
| Total current assets | 3,206 | 3,472 |
| Plant, Property, and Equipment | ||
| Plant, property, and equipment, gross | 39,300 | 37,763 |
| Less accumulated depreciation and amortization | 10,468 | 10,135 |
| Plant, property, and equipment, net | 28,832 | 27,628 |
| Construction work in progress | 3,108 | 3,052 |
| Total plant, property, and equipment | 31,940 | 30,680 |
| Other Non‑current Assets | ||
| Regulatory assets | 3,381 | 3,355 |
| Accounts receivable | 17 | 18 |
| Investments | 29 | 61 |
| Postretirement benefits | 2,101 | 1,957 |
| Assets held for sale | 783 | — |
| Other | 226 | 398 |
| Total other non‑current assets | 6,537 | 5,789 |
| Total Assets | $41,683 | $39,941 |
| LIABILITIES AND EQUITY | ||
|---|---|---|
| In Millions | ||
| September 302026 | December 312025 | |
| Current Liabilities | ||
| Current portion of long-term debt and finance leases | $1,258 | $956 |
| Accounts payable | 1,326 | 1,395 |
| Accounts payable – related parties | 6 | 9 |
| Accrued rate refunds | — | 28 |
| Accrued interest | 227 | 182 |
| Accrued taxes | 225 | 708 |
| Regulatory liabilities | 95 | 85 |
| Liabilities held for sale | 14 | — |
| Other current liabilities | 237 | 185 |
| Total current liabilities | 3,388 | 3,548 |
| Non‑current Liabilities | ||
| Long-term debt | 18,743 | 17,807 |
| Non-current portion of finance leases | 206 | 135 |
| Regulatory liabilities | 4,149 | 4,091 |
| Postretirement benefits | 92 | 95 |
| AROs | 778 | 792 |
| Deferred investment tax credit | 168 | 118 |
| Deferred income taxes | 3,306 | 3,252 |
| Liabilities held for sale | 87 | — |
| Other non‑current liabilities | 471 | 392 |
| Total non‑current liabilities | 28,000 | 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 | 7,046 | 6,510 |
| Accumulated other comprehensive loss | (35) | (36) |
| Retained earnings | 2,488 | 2,443 |
| Total common stockholders’ equity | 9,502 | 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 | 9,726 | 9,144 |
| Noncontrolling interests | 569 | 567 |
| Total equity | 10,295 | 9,711 |
| Total Liabilities and Equity | $41,683 | $39,941 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.