CMS ENERGY CORP

For the period ended Sep 30, 2026. Filed Oct 27, 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.

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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Contents

Consolidated Balance Sheets (Unaudited)

ASSETS
In Millions
	September 302026	December 312025
Current Assets
Cash and cash equivalents	$257	$25
Restricted cash and cash equivalents	68	86
Accounts receivable and accrued revenue, less allowance of $29 in 2026 and $27 in 2025	951	1,210
Accounts and notes receivable – related parties	9	15
Inventories at average cost
Gas in underground storage	551	427
Materials and supplies	333	316
Generating plant fuel stock	40	31
Deferred property taxes	318	479
Regulatory assets	59	104
Prepayments and other current assets	111	132
Total current assets	2,697	2,825
Plant, Property, and Equipment
Plant, property, and equipment, gross	38,381	36,120
Less accumulated depreciation and amortization	10,369	9,842
Plant, property, and equipment, net	28,012	26,278
Construction work in progress	2,848	2,354
Total plant, property, and equipment	30,860	28,632
Other Non-current Assets
Regulatory assets	3,381	3,355
Accounts receivable	22	24
Accounts and notes receivable – related parties	86	88
Postretirement benefits	1,955	1,821
Other	203	346
Total other non-current assets	5,647	5,634
Total Assets	$39,204	$37,091

LIABILITIES AND EQUITY
In Millions
	September 302026	December 312025
Current Liabilities
Current portion of long-term debt and finance leases	$470	$579
Notes payable – related parties	—	340
Accounts payable	1,219	1,229
Accounts payable – related parties	12	14
Accrued rate refunds	—	28
Accrued interest	165	149
Accrued taxes	258	747
Regulatory liabilities	95	85
Other current liabilities	147	163
Total current liabilities	2,366	3,334
Non-current Liabilities
Long-term debt	13,152	11,524
Long-term debt – related parties	1,005	1,005
Non-current portion of finance leases	176	81
Regulatory liabilities	4,149	4,091
Postretirement benefits	67	70
AROs	768	753
Deferred investment tax credit	168	118
Deferred income taxes	3,277	3,201
Other non-current liabilities	420	336
Total non-current liabilities	23,182	21,179
Commitments and Contingencies (Notes 2, 3, and 8)
Equity
Common stockholder’s equity
Common stock, authorized 125.0 shares; outstanding 84.1 shares in both periods	841	841
Other paid-in capital	9,949	9,094
Accumulated other comprehensive loss	(12)	(13)
Retained earnings	2,841	2,619
Total common stockholder’s equity	13,619	12,541
Cumulative preferred stock, $4.50 series, authorized 7.5 shares; outstanding 0.4 shares in both periods	37	37
Total equity	13,656	12,578
Total Liabilities and Equity	$39,204	$37,091

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.