CMS Energy Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	509	103	227	164	452
Accounts Receivable	-	1,063	944	1,580	943
Inventory	-	769	938	1,117	667
Prepaid Expenses	-	551	506	497	495
Restricted Cash	106	75	21	18	24
Other Current Assets	2,857	229	203	57	46
Total Current Assets	3,472	2,790	2,839	3,433	2,627
Property, Plant & Equipment	30,680	27,485	25,098	22,744	22,378
Regulatory Assets	-	3,569	3,683	3,595	2,259
Long-Term Investments	-	69	76	71	71
Other Long-Term Assets	5,789	2,007	1,821	1,510	1,418
Total Assets	39,941	35,920	33,517	31,353	28,753
Accounts Payable	-	1,093	809	936	886
Accrued Expenses	-	810	754	660	622
Short-Term Debt	-	65	93	20	-
Current Portion of Long-Term Debt	-	1,191	975	1,090	376
Current Portion of Leases	-	7	9	13	9
Current Income Taxes Payable	-	53	49	48	138
Other Current Liabilities	2,592	302	206	218	173
Total Current Liabilities	2,592	3,521	2,895	2,985	2,204
Long-Term Debt	18,898	15,194	14,508	13,122	12,046
Long-Term Leases	-	133	84	95	71
Pension & Post-Retirement Benefits	-	133	118	108	196
Long-Term Deferred Tax Liabilities	-	3,047	2,741	2,536	2,322
Other Long-Term Liabilities	8,740	5,144	5,046	4,912	4,726
Total Liabilities	30,230	27,172	25,392	23,758	21,565
Total Preferred Equity	224	224	224	224	224
Common Stock	8,920	3	3	3	3
Additional Paid-In Capital	-	6,009	5,705	5,490	5,406
Retained Earnings	-	2,035	1,658	1,350	1,057
Comprehensive Income & Other	-	-41	-46	-52	-59
Total Common Equity	8,920	8,006	7,320	6,791	6,407
Minority Interest	567	518	581	580	557
Shareholders' Equity	9,711	8,748	8,125	7,595	7,188
Total Liabilities & Equity	39,941	35,920	33,517	31,353	28,753
Total Debt	18,898	16,590	15,669	14,340	12,502
Net Cash (Debt)	-18,389	-16,487	-15,442	-14,176	-12,050
Net Cash Per Share	-61.09	-55.27	-52.94	-48.88	-41.62
Filing Date Shares Outstanding	305.8	298.79	294.44	291.26	289.76
Total Common Shares Outstanding	305.8	298.79	294.44	291.27	289.76
Working Capital	880	-731	-56	448	423
Book Value Per Share	29.17	26.79	24.86	23.32	22.11
Tangible Book Value	8,920	8,006	7,320	6,791	6,407
Tangible Book Value Per Share	29.17	26.79	24.86	23.32	22.11
Machinery	-	29,734	28,108	25,761	25,176
Construction In Progress	-	2,098	944	1,182	961

Source: S&P Global Market Intelligence. Utility template. Financial Sources.