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 Statements of Cash Flows (Unaudited)
| In Millions | ||
|---|---|---|
| Nine Months Ended September 30 | 2026 | 2025 |
| Cash Flows from Operating Activities | ||
| Net income (loss) | $282 | $760 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||
| Depreciation and amortization | 1,018 | 964 |
| Deferred income taxes and investment tax credits | 81 | 171 |
| NorthStar Clean Energy impairment and disposal | 502 | — |
| Other non‑cash operating activities and reconciling adjustments | (149) | (181) |
| Changes in assets and liabilities | ||
| Accounts receivable and accrued revenue | 231 | 114 |
| Inventories | (142) | (134) |
| Accounts payable and accrued rate refunds | (111) | (6) |
| Other current assets and liabilities | 5 | 103 |
| Other non‑current assets and liabilities | 81 | (34) |
| Net cash provided by operating activities | 1,798 | 1,757 |
| Cash Flows from Investing Activities | ||
| Capital expenditures (excludes assets placed under finance lease) | (2,945) | (2,750) |
| Cost to retire property and other investing activities | (166) | (176) |
| Net cash used in investing activities | (3,111) | (2,926) |
| Cash Flows from Financing Activities | ||
| Proceeds from issuance of debt | 2,173 | 2,511 |
| Retirement of debt | (929) | (884) |
| Decrease in notes payable | — | (65) |
| Issuance of common stock | 530 | 373 |
| Payment of dividends on common and preferred stock | (539) | (496) |
| Proceeds from the sale of membership interests in VIEs | — | 44 |
| Proceeds from the sale of membership interest in VIE to tax equity investor | 76 | — |
| Other financing costs | (34) | (60) |
| Net cash provided by financing activities | 1,277 | 1,423 |
| Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts | (36) | 254 |
| Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period | 615 | 178 |
| Cash and Cash Equivalents, Including Restricted Amounts, End of Period | $579 | $432 |
| Other Non‑cash Investing and Financing Activities | ||
| Non‑cash transactions | ||
| Capital expenditures not paid | $662 | $586 |
| Deemed contribution from sale of membership interest | $166 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.