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CMS Energy Corporation Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenue $ 7,462 $ 8,596 $ 7,329
Operating Expenses      
Fuel for electric generation 561 905 593
Purchased power – related parties 75 76 77
Maintenance and other operating expenses 1,687 1,669 1,610
Depreciation and amortization 1,180 1,126 1,114
General taxes 447 412 389
Total operating expenses 6,227 7,372 6,183
Operating Income 1,235 1,224 1,146
Other Income (Expense)      
Non-operating retirement benefits, net 180 205 165
Other income 195 19 30
Other expense (13) (27) (18)
Total other income 362 197 177
Interest Charges      
Interest on long-term debt 616 509 481
Allowance for borrowed funds used during construction (3) (2) (3)
Total interest charges 643 519 500
Income Before Income Taxes 954 902 823
Income Tax Expense 147 93 95
Income From Continuing Operations 807 809 728
Income From Discontinued Operations, Net of Tax of $—, $1, and $170 1 4 602
Net Income 808 813 1,330
Loss Attributable to Noncontrolling Interests (79) (24) (23)
Net Income 887 837 1,353
Preferred Stock Dividends 10 10 5
Net Income Available to Common Stockholders $ 877 $ 827 $ 1,348
Basic Earnings Per Average Common Share      
Income from continuing operations per average common share available to common stockholders (in dollars per share) $ 3.01 $ 2.84 $ 2.58
Income from discontinued operations per average common share available to common stockholders (in dollars per share) 0 0.01 2.08
Basic earnings per average common share (in dollars per share) 3.01 2.85 4.66
Diluted Earnings Per Average Common Share      
Income from continuing operations per average common share available to common stockholders (in dollars per share) 3.01 2.84 2.58
Income from discontinued operations per average common share available to common stockholders (in dollars per share) 0 0.01 2.08
Diluted earnings per average common share (in dollars per share) $ 3.01 $ 2.85 $ 4.66
Related Party      
Interest Charges      
Other interest expense $ 12 $ 12 $ 12
Nonrelated Party      
Interest Charges      
Other interest expense 18 0 10
Purchased and interchange power      
Operating Expenses      
Cost of goods and services sold 1,375 1,928 1,665
Cost of gas sold      
Operating Expenses      
Cost of goods and services sold $ 902 $ 1,256 $ 735