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CMS Energy Corporation Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating Revenue $ 1,673 $ 2,024 $ 5,512 $ 6,318
Operating Expenses        
Fuel for electric generation 162 312 409 720
Purchased power – related parties 21 21 57 56
Maintenance and other operating expenses 447 413 1,284 1,139
Depreciation and amortization 262 243 870 830
General taxes 91 87 330 308
Total operating expenses 1,402 1,766 4,683 5,365
Operating Income 271 258 829 953
Other Income (Expense)        
Non-operating retirement benefits, net 45 54 135 154
Other income 34 5 152 11
Other expense (2) (5) (8) (20)
Total other income 77 54 279 145
Interest Charges        
Interest on long-term debt 158 127 454 370
Allowance for borrowed funds used during construction (1) 0 (2) (1)
Total interest charges 164 130 471 380
Income Before Income Taxes 184 182 637 718
Income Tax Expense 11 19 81 72
Income From Continuing Operations 173 163 556 646
Income From Discontinued Operations, Net of Tax of $—, $—, $—, and $1 0 0 1 4
Net Income 173 163 557 650
Loss Attributable to Noncontrolling Interests (3) (2) (21) (16)
Net Income Attributable to CMS Energy 176 165 578 666
Preferred Stock Dividends 2 2 7 7
Net Income Available to Common Stockholders $ 174 $ 163 $ 571 $ 659
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) $ 0.60 $ 0.56 $ 1.96 $ 2.26
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) 0.60 0.56 1.96 2.27
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) 0.60 0.56 1.96 2.26
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) $ 0.60 $ 0.56 $ 1.96 $ 2.27
Related Party        
Interest Charges        
Other interest expense $ 3 $ 3 $ 9 $ 9
Nonrelated Party        
Interest Charges        
Other interest expense 4 0 10 2
Purchased and interchange power        
Operating Expenses        
Cost of goods and services sold 377 572 1,060 1,510
Cost of gas sold        
Operating Expenses        
Cost of goods and services sold $ 42 $ 118 $ 673 $ 802