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CMS Energy Corporation Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating Revenue $ 1,920 $ 1,558 $ 4,294 $ 3,571
Operating Expenses        
Fuel for electric generation 241 116 408 254
Purchased power – related parties 18 17 35 35
Maintenance and other operating expenses 392 355 726 666
Depreciation and amortization 242 244 587 582
General taxes 89 87 221 209
Total operating expenses 1,681 1,306 3,599 2,889
Operating Income 239 252 695 682
Other Income (Expense)        
Interest income 1 1 2 2
Allowance for equity funds used during construction 1 2 3 3
Income from equity method investees 0 2 0 4
Non-operating retirement benefits, net 52 40 100 81
Other income 0 5 1 6
Other expense (11) (2) (15) (4)
Total other income 43 48 91 92
Interest Charges        
Interest on long-term debt 122 120 243 239
Interest expense – related parties 3 3 6 6
Other interest expense 1 2 2 5
Allowance for borrowed funds used during construction 0 0 (1) (1)
Total interest charges 126 125 250 249
Income Before Income Taxes 156 175 536 525
Income Tax Expense 14 22 53 64
Income From Continuing Operations 142 153 483 461
Income From Discontinued Operations, Net of Tax of $—, $7, $1, and $16 0 18 4 52
Net Income 142 171 487 513
Loss Attributable to Noncontrolling Interests (6) (5) (14) (12)
Net Income Attributable to CMS Energy 148 176 501 525
Preferred Stock Dividends 3 0 5 0
Net Income Available to Common Stockholders $ 145 $ 176 $ 496 $ 525
Basic Earnings Per Average Common Share        
Basic earnings per average common share, income from continuing operations per average common share available to common stockholders (in dollars per share) $ 0.50 $ 0.55 $ 1.70 $ 1.64
Basic earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0 0.06 0.01 0.18
Basic earnings per average common share (in dollars per share) 0.50 0.61 1.71 1.82
Diluted Earnings Per Average Common Share        
Diluted earnings per average common share, income from continuing operations per average common share available to common stockholders (in dollars per share) 0.50 0.55 1.70 1.64
Diluted earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0 0.06 0.01 0.18
Diluted earnings per average common share (in dollars per share) $ 0.50 $ 0.61 $ 1.71 $ 1.82
Purchased and interchange power        
Operating Expenses        
Cost of goods and services sold $ 483 $ 391 $ 938 $ 768
Cost of gas sold        
Operating Expenses        
Cost of goods and services sold $ 216 $ 96 $ 684 $ 375