CMS Energy Corporation Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net Income	$ 650	$ 696
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	830	832
Deferred income taxes and investment tax credits	58	110
Gain from sale of EnerBank	(5)	0
Other non‑cash operating activities and reconciling adjustments	(60)	(71)
Net cash used in discontinued operations	0	(111)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(257)	129
Inventories	(637)	(185)
Accounts payable and accrued rate refunds	25	84
Other current assets and liabilities	18	(30)
Other non‑current assets and liabilities	45	29
Net cash provided by operating activities	667	1,483
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,738)	(1,442)
Net proceeds from sale of EnerBank	5	(8)
Net cash provided by discontinued operations	0	78
Cost to retire property and other investing activities	(75)	(88)
Net cash used in investing activities	(1,808)	(1,460)
Cash Flows from Financing Activities
Proceeds from issuance of debt	1,349	300
Retirement of debt	(92)	(18)
Issuance of common stock	10	23
Issuance of preferred stock, net of issuance costs	0	224
Payment of dividends on common and preferred stock	(410)	(380)
Proceeds from the sale of membership interest in VIE to tax equity investor	49	0
Net cash used in discontinued operations	0	(84)
Other financing costs	(46)	(37)
Net cash provided by financing activities	860	28
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(281)	51
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	476	185
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	195	236
Non‑cash transactions
Capital expenditures not paid	$ 227	$ 172