CMS Energy Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	362	103	227	164	452	32
Accounts Receivable	934	1,063	944	1,580	943	872
Inventory	903	769	938	1,117	667	576
Prepaid Expenses	392	551	506	497	495	436
Restricted Cash	70	75	21	18	24	17
Other Current Assets	84	229	203	57	46	471
Total Current Assets	2,745	2,790	2,839	3,433	2,627	2,404
Property, Plant & Equipment	29,690	27,485	25,098	22,744	22,378	21,049
Regulatory Assets	3,545	3,569	3,683	3,595	2,259	2,653
Long-Term Investments	64	69	76	71	71	70
Other Long-Term Assets	1,964	2,007	1,821	1,510	1,418	3,490
Total Assets	38,008	35,920	33,517	31,353	28,753	29,666
Accounts Payable	1,149	1,093	809	936	886	668
Accrued Expenses	204	810	754	660	622	558
Short-Term Debt	-	65	93	20	-	-
Current Portion of Long-Term Debt	1,162	1,191	975	1,090	376	587
Current Unearned Revenue	-	-	-	-	-	14
Current Portion of Leases	-	7	9	13	9	11
Current Income Taxes Payable	200	53	49	48	138	105
Other Current Liabilities	337	302	206	218	173	1,131
Total Current Liabilities	3,052	3,521	2,895	2,985	2,204	3,074
Long-Term Debt	16,778	15,194	14,508	13,122	12,046	11,744
Long-Term Leases	137	133	84	95	71	81
Pension & Post-Retirement Benefits	92	133	118	108	196	152
Long-Term Deferred Tax Liabilities	3,291	3,047	2,741	2,536	2,322	1,978
Other Long-Term Liabilities	5,227	5,144	5,046	4,912	4,726	6,560
Total Liabilities	28,577	27,172	25,392	23,758	21,565	23,589
Total Preferred Equity	224	224	224	224	224	-
Common Stock	3	3	3	3	3	3
Additional Paid-In Capital	6,355	6,009	5,705	5,490	5,406	5,365
Retained Earnings	2,323	2,035	1,658	1,350	1,057	214
Comprehensive Income & Other	-41	-41	-46	-52	-59	-86
Total Common Equity	8,640	8,006	7,320	6,791	6,407	5,496
Minority Interest	567	518	581	580	557	581
Shareholders' Equity	9,431	8,748	8,125	7,595	7,188	6,077
Total Liabilities & Equity	38,008	35,920	33,517	31,353	28,753	29,666
Total Debt	18,077	16,590	15,669	14,340	12,502	12,423
Net Cash (Debt)	-17,715	-16,487	-15,442	-14,176	-12,050	-12,391
Net Cash Per Share	-59.21	-55.27	-52.94	-48.88	-41.62	-43.28
Filing Date Shares Outstanding	304.32	298.79	294.44	291.26	289.76	288.93
Total Common Shares Outstanding	304.3	298.79	294.44	291.27	289.76	288.93
Working Capital	-307	-731	-56	448	423	-670
Book Value Per Share	28.39	26.79	24.86	23.32	22.11	19.02
Tangible Book Value	8,640	8,006	7,320	6,791	6,407	5,496
Tangible Book Value Per Share	28.39	26.79	24.86	23.32	22.11	19.02
Machinery	-	29,734	28,108	25,761	25,176	23,211
Construction In Progress	3,158	2,098	944	1,182	961	1,085

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