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CMS Energy Corporation Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating Revenue $ 1,555 $ 1,920 $ 3,839 $ 4,294
Operating Expenses        
Fuel for electric generation 110 241 247 408
Purchased power – related parties 17 18 36 35
Maintenance and other operating expenses 406 392 837 726
Depreciation and amortization 255 242 608 587
General taxes 97 89 239 221
Total operating expenses 1,311 1,681 3,281 3,599
Operating Income 244 239 558 695
Other Income (Expense)        
Non-operating retirement benefits, net 45 52 90 100
Other income 103 2 118 6
Other expense (2) (11) (6) (15)
Total other income 146 43 202 91
Interest Charges        
Interest on long-term debt 152 122 296 243
Allowance for borrowed funds used during construction (1) 0 (1) (1)
Total interest charges 160 126 307 250
Income Before Income Taxes 230 156 453 536
Income Tax Expense 41 14 70 53
Income From Continuing Operations 189 142 383 483
Income From Discontinued Operations, Net of Tax of $—, $—, $—, and $1 1 0 1 4
Net Income 190 142 384 487
Loss Attributable to Noncontrolling Interests (8) (6) (18) (14)
Net Income Attributable to CMS Energy 198 148 402 501
Preferred Stock Dividends 3 3 5 5
Net Income Available to Common Stockholders $ 195 $ 145 $ 397 $ 496
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) $ 0.67 $ 0.50 $ 1.36 $ 1.70
Basic earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0 0 0 0.01
Basic earnings per average common share (in dollars per share) 0.67 0.50 1.36 1.71
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) 0.67 0.50 1.36 1.70
Diluted earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0 0 0 0.01
Diluted earnings per average common share (in dollars per share) $ 0.67 $ 0.50 $ 1.36 $ 1.71
Related Party        
Interest Charges        
Other interest expense $ 3 $ 3 $ 6 $ 6
Nonrelated Party        
Interest Charges        
Other interest expense 6 1 6 2
Purchased and interchange power        
Operating Expenses        
Cost of goods and services sold 342 483 683 938
Cost of gas sold        
Operating Expenses        
Cost of goods and services sold $ 84 $ 216 $ 631 $ 684