CMS Energy Corporation Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities
Net Income	$ 345	$ 342
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	345	338
Deferred income taxes and investment tax credits	33	48
Gain from sale of EnerBank	(5)	0
Other non‑cash operating activities and reconciling adjustments	(22)	(13)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(121)	29
Inventories	213	168
Accounts payable and accrued rate refunds	(129)	(109)
Other current assets and liabilities	7	(12)
Other non‑current assets and liabilities	41	41
Net cash provided by operating activities	707	832
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(520)	(436)
Net proceeds from sale of EnerBank	5	0
Net cash provided by discontinued operations	0	178
Cost to retire property and other investing activities	(24)	(25)
Net cash used in investing activities	(539)	(283)
Cash Flows from Financing Activities
Retirement of debt	(3)	(2)
Issuance of common stock	4	9
Payment of dividends on common and preferred stock	(136)	(126)
Net cash used in discontinued operations	0	(73)
Other financing costs	(35)	(18)
Net cash used in financing activities	(170)	(210)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(2)	339
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	476	185
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	474	524
Non‑cash transactions
Capital expenditures not paid	$ 128	$ 87