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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating Revenue $ 1,725 $ 1,507 $ 5,296 $ 4,691
Operating Expenses        
Fuel for electric generation 184 108 438 274
Purchased power – related parties 21 13 56 45
Maintenance and other operating expenses 410 281 1,076 885
Depreciation and amortization 250 226 832 763
General taxes 81 74 290 262
Total operating expenses 1,465 1,167 4,354 3,768
Operating Income 260 340 942 923
Other Income (Expense)        
Interest income 0 1 2 3
Interest and dividend income – related parties 0 0 0 7
Allowance for equity funds used during construction 2 1 5 4
Income from equity method investees 4 0 8 1
Non-operating retirement benefits, net 40 29 121 90
Other income 1 1 7 3
Other expense (3) (4) (7) (9)
Total other income 44 28 136 99
Interest Charges        
Interest on long-term debt 120 124 359 361
Interest expense – related parties 3 3 9 9
Other interest expense 3 4 8 10
Allowance for borrowed funds used during construction (1) (1) (2) (2)
Total interest charges 125 130 374 378
Income Before Income Taxes 179 238 704 644
Income Tax Expense 26 40 90 88
Income From Continuing Operations 153 198 614 556
Income From Discontinued Operations, Net of Tax of $9, $4, $25, and $10 30 12 82 34
Net Income 183 210 696 590
Loss Attributable to Noncontrolling Interests (6) (8) (18) (7)
Net Income attributable to CMS Energy 189 218 714 597
Preferred Stock Dividends 3 0 3 0
Net Income Available to Common Stockholders $ 186 $ 218 $ 711 $ 597
Basic earnings per average common share, income from continuing operations per average common share available to common stockholders (in dollars per share) $ 0.54 $ 0.72 $ 2.18 $ 1.98
Basic earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0.10 0.04 0.28 0.12
Basic earnings per average common share (in dollars per share) 0.64 0.76 2.46 2.10
Diluted earnings per average common share, income from continuing operations per average common share available to common stockholders (in dollars per share) 0.54 0.72 2.18 1.97
Diluted earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0.10 0.04 0.28 0.12
Diluted earnings per average common share (in dollars per share) $ 0.64 $ 0.76 $ 2.46 $ 2.09
Consumers Energy Company        
Operating Revenue $ 1,644 $ 1,450 $ 5,074 $ 4,524
Operating Expenses        
Fuel for electric generation 147 85 340 207
Purchased and interchange power 450 420 1,200 1,121
Purchased power – related parties 21 13 56 45
Cost of gas sold 53 33 425 383
Maintenance and other operating expenses 390 266 1,021 846
Depreciation and amortization 241 223 804 753
General taxes 77 72 277 256
Total operating expenses 1,379 1,112 4,123 3,611
Operating Income 265 338 951 913
Other Income (Expense)        
Interest income 1 1 2 3
Interest and dividend income – related parties 1 2 4 4
Allowance for equity funds used during construction 2 1 5 4
Non-operating retirement benefits, net 37 28 113 85
Other income 1 1 7 3
Other expense (3) (4) (7) (9)
Total other income 39 29 124 90
Interest Charges        
Interest on long-term debt 74 76 220 227
Interest expense – related parties 3 3 9 9
Other interest expense 2 4 6 9
Allowance for borrowed funds used during construction (1) (1) (2) (2)
Total interest charges 78 82 233 243
Income Before Income Taxes 226 285 842 760
Income Tax Expense 40 55 130 135
Net Income 186 230 712 625
Net Income attributable to CMS Energy 186 230 712 625
Preferred Stock Dividends 0 0 1 1
Net Income Available to Common Stockholders 186 230 711 624
Purchased and interchange power        
Operating Expenses        
Cost of goods and services sold 462 430 1,230 1,149
Cost of gas sold        
Operating Expenses        
Cost of goods and services sold $ 57 $ 35 $ 432 $ 390