CMS Energy Corporation Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net Income	$ 384	$ 487
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	608	587
Deferred income taxes and investment tax credits	71	39
Other non‑cash operating activities and reconciling adjustments	(122)	(38)
Changes in assets and liabilities
Accounts receivable and accrued revenue	474	(80)
Inventories	236	(179)
Accounts payable and accrued rate refunds	(189)	53
Other current assets and liabilities	92	117
Other non‑current assets and liabilities	151	73
Net cash provided by operating activities	1,705	1,059
Cash Flows from Investing Activities
Cost to retire property and other investing activities	(82)	(51)
Net cash used in investing activities	(2,079)	(1,139)
Cash Flows from Financing Activities
Proceeds from issuance of debt	2,405	0
Retirement of debt	(1,465)	(92)
Issuance of common stock	7	7
Payment of dividends on common and preferred stock	(290)	(273)
Proceeds from the sale of membership interest in VIE to tax equity investor	0	49
Contribution from noncontrolling interest	6	2
Other financing costs	(45)	(38)
Net cash provided by (used in) financing activities	598	(300)
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	224	(380)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	182	476
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	406	96
Non‑cash transactions
Capital expenditures not paid	241	162
Capital Expenditures
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(1,187)	(1,088)
Covert Plant Acquisition
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(810)	0
Nonrelated Party
Cash Flows from Financing Activities
Increase (decrease) in notes payable	$ (20)
Increase (decrease) in notes payable		$ 45