-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GAEUT8hWUc1aCgibaKBokmk1qb8k7DR3BzjvhqJl+msX+DzU08ycpZKXQd/FfchE y088iRxWZQyVd3uaqHxs9g== 0000950124-04-001390.txt : 20040331 0000950124-04-001390.hdr.sgml : 20040331 20040331094057 ACCESSION NUMBER: 0000950124-04-001390 CONFORMED SUBMISSION TYPE: U-3A-2/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20031231 FILED AS OF DATE: 20040331 EFFECTIVENESS DATE: 20040331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CMS ENERGY CORP CENTRAL INDEX KEY: 0000811156 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 382726431 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-3A-2/A SEC ACT: 1935 Act SEC FILE NUMBER: 069-00333 FILM NUMBER: 04703917 BUSINESS ADDRESS: STREET 1: FAIRLANE PLZ S STE 1100 STREET 2: 330 TOWN CENTER DR CITY: DEARBORN STATE: MI ZIP: 48126 BUSINESS PHONE: 3134369261 MAIL ADDRESS: STREET 1: FAIRLANE PLAZA SOUTH, SUITE 1100 STREET 2: 330 TOWN CENTER DRIVE CITY: DEARBORN STATE: MI ZIP: 48126 U-3A-2/A 1 k84114uv3av2za.txt AMENDMENT TO FORM U-3A-2 File No. 069-00333 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-3A-2/A AMENDMENT NO. 1 STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 ----------------------------------------------- TO BE FILED ANNUALLY PRIOR TO MARCH 1 ----------------------------------------------- CMS ENERGY CORPORATION (Name of Company) hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the following information: March 31, 2004 EXPLANATORY NOTE This Form U-3A-2/A amends the Form U-3A-2 that was filed on February 27, 2004. This amendment includes the consolidated financial statements on Exhibit A that were omitted from the Form U-3A-2 filed on February 27, 2004. NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT AND EVERY SUBSIDIARY THEREOF, OTHER THAN ANY EXEMPT WHOLESALE GENERATOR (EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR INDIRECTLY HOLDS AN INTEREST. Claimant has listed EWGs, identified by an asterisk (*) and foreign utility companies (FUCOs), identified by double asterisk (**) in order to maintain the continuity of the organizational chart. For the purpose of this filing CMS Energy will address the information requested in section 1 under the headings of CMS Energy Corporation (Tier 1), CMS Enterprises Company (Tier 2) and Consumers Energy Company (Tier 2). As CMS Energy discusses in detail below, CMS Energy Corporation is the parent company for CMS Enterprises Company and Consumers Energy Company. All ownership interests are 100% unless indicated parenthetically to the contrary. 01 CMS ENERGY CORPORATION Address: One Energy Plaza Jackson, Michigan 49201 CMS Energy Corporation ("CMS Energy") was duly incorporated under the laws of the State of Michigan in 1987. CMS Energy is an approximately $5.4 billion (sales) energy company with subsidiaries engaged in electric utility operations, gas utility operations, the acquisition, development and operation of independent power production facilities, energy trading and the transportation, storage and marketing of natural gas. The name, state of organization and nature of business of CMS Energy's direct subsidiaries are described below: 02 CMS Enterprises Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Enterprises Company is a Michigan corporation that owns subsidiaries engaged in the development, acquisition and management of energy-related businesses and projects worldwide. 02 Consumers Energy Company Address: One Energy Plaza Jackson, Michigan 49201 Consumers Energy Company is a Michigan corporation engaged in the generation, purchase, distribution and sale of electricity, and in the purchase, storage, distribution and sale of natural gas, in the lower peninsula of the State of Michigan. THE NAME, STATE OF ORGANIZATION AND NATURE OF BUSINESS OF EACH SUBSIDIARY AND THEIR SUBSIDIARIES ARE DESCRIBED BELOW: 02 CMS ENTERPRISES COMPANY Address: One Energy Plaza Jackson, Michigan 49201 03 CMS Business Development LLC Address: One Energy Plaza Jackson, Michigan 49201 CMS Business Development LLC is a Texas limited liability company formed as a holding company for employees engaged in the business of project development in North America, effective January 1, 2002. 03 CMS Capital, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS Capital, L.L.C. is a Michigan limited liability company formed to assist in securing financing for CMS Energy Corporation and its subsidiaries and affiliates. 04 CMS Capital Financial Services, Inc. Address: One Energy Plaza Jackson, Michigan 49201 CMS Capital Financial Services, Inc. is a Michigan corporation engaged in the business of making loans to homeowners and small businesses for energy related goods or services. 04 EnerBank, USA Address: One Energy Plaza Jackson, Michigan 49201 EnerBank, USA is a Utah corporation engaged in the business of an "industrial loan corporation" to issue thrift certificates of deposit and thrift savings accounts for the payment of money, to issue capital notes or debentures to receive payments with or without allowance for interest. 03 CMS Comercializadora de Energia S.A. (98.52%) Address: Edificio Torre Catalinas Plaza, Ing. Enrique Butty 220 8 Piso (Av. E. Madero Alt. 800/900) (1300) Buenos Aires, Argentina CMS Comercializadora de Energia S.A. is an Argentine corporation engaged in gas and electric marketing operations in Argentina. 03 *CMS Distributed Power, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS Distributed Power, L.L.C is a Michigan limited liability company formed for the purpose of aggregating the output from multiple generators to have power available on demand. 03 CMS Energy Asia Private Limited (Singapore) Address: Block 94C #09-2391 Bedok North Avenue 4 Singapore 462094 CMS Energy Asia Private Limited is a Singapore corporation involved in the development of electrical generation and distribution opportunities, gas transmission, storage and distribution opportunities, electrical and gas marketing opportunities and development opportunities in Asia and the Pacific Rim. 04 CMS Energy India Pte Ltd (India) (99%) Address: Oxford Center, 1st Floor #66 Sir C P Ramaswamy Road Alwarpet, Chennai 600 018 India CMS Energy India Private Limited is an Indian corporation formed to pursue development opportunities in India. 03 CMS Energy India Pte Ltd (India) (1%) Address: Oxford Center, 1st Floor #66 Sir C P Ramaswamy Road Alwarpet, Chennai 600 018 India CMS Energy India Private Limited is an Indian corporation formed to pursue development opportunities in India. 03 CMS Energy South America Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Energy South America Company is a Cayman Islands corporation formed to provide for consolidation of the development expenses and activity in Argentina and Brazil. 04 CMS Enterprises Development Company S.A. (99.99%) Address: Edificio Torre Catalinas Plaza, Ing. Enrique Butty 220 8(Degree) Piso (Av. E. Madero Alt. 800/900) (1300) Buenos Aires, Argentina CMS Enterprises Development Company S.A. is an Argentine corporation formed to handle development work in Argentina. 03 CMS Energy UK Limited Address: One Energy Plaza Jackson, Michigan 49201 CMS Energy UK Limited is a United Kingdom limited liability company involved in the development of energy-related businesses and projects in Europe, Africa and the Middle East. 03 CMS Enterprises Development, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS Enterprises Development, L.L.C. is a Michigan limited liability company formed to invest in various projects. 03 CMS Enterprises Holding Company S.A. (99.99%) Address: Edificio Torre Catalinas Plaza Ing. Enrique Butty 220 8(Degree) Piso (Av. E. Madero Alt. 800/900) (1300) Buenos Aires, Argentina CMS Enterprises Holding Company S.A. is an Argentine corporation formed as a holding corporation. 03 CMS Gas Transmission Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Gas Transmission Company is a Michigan corporation organized to engage in the transmission, storage and processing of natural gas. 04 Atlantic Methanol Capital Company (50%) Address: One Energy Plaza Jackson, Michigan 49201 Atlantic Methanol Capital Company is a Cayman Islands corporation formed to assist in the financing relating to an Equatorial Guinea methanol plant that has subsequently been sold. 05 CMS Methanol Company (40%) 04 CMS Energy Investment L.L.C. (70%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Energy Investment L.L.C. is a Delaware limited liability company that acts as a holding company of CMS Energy's interests in the Loy Yang and Michigan Gas Transmission assets. 05 CMS Antrim Gas LLC Address: One Energy Plaza Jackson, Michigan 49201 CMS Antrim Gas LLC is a Michigan limited liability company formed for the purpose of owning and operating the central carbon dioxide removal plant in Otsego County, Michigan. 05 CMS Bay Area Pipeline, LLC Address: One Energy Plaza Jackson, Michigan 49201 CMS Bay Area is a Michigan limited liability company formed for the purpose of limiting and avoiding confusion with the pipeline system owned by MCN. 05 CMS Grands Lacs LLC Address: One Energy Plaza Jackson, Michigan 49201 CMS Grands Lacs LLC is a Michigan limited liability company and owner of various natural gas pipelines in Northern Michigan. 05 CMS Jackson L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS Jackson L.L.C. is a Michigan limited liability company involved as a 75% General Partner in Jackson Pipeline Company, a Michigan general partnership. 05 CMS Litchfield LLC Address: One Energy Plaza Jackson, Michigan 49201 CMS Litchfield LLC is a Michigan limited liability company that holds interests in the Litchfield Pipeline project. 05 CMS Special Member Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Special Member Company is a Delaware corporation which is a special member of: CMS Energy Investment L.L.C., Loy Yang Holdings No. 1 LLC, Loy Yang Holdings No. 2 LLC, Loy Yang Holdings No. 3 LLC and Loy Yang Holdings No. 4 LLC. 05 Loy Yang Holdings No. 1 LLC (86%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 1 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang project. 06 Loy Yang Holdings Unit Trust No. 1 LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings Unit Trust No. 1 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 07 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 08 CMS Generation Loy Yang Holdings 1 Ltd. 09 **Horizon Energy Holdings Ltd. 10 **Loy Yang Power Partners (24.63%) 10 Loy Yang Power Projects Pty Ltd (24.6%) 10 Loy Yang Power Management Pty Ltd (24.6%) 08 CMS Generation Loy Yang Holdings 2 Ltd. 09 **CMS Generation Horizon Energy Holdings Ltd. 10 Loy Yang Power Management Pty Ltd (25%) 10 **Loy Yang Power Partners (25%) 10 Loy Yang Power Projects Pty Ltd (25%) 05 Loy Yang Holdings No. 2 LLC (86%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 2 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang project. 06 Loy Yang Holdings Unit Trust No. 1 LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings Unit Trust No. 1 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 07 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 08 CMS Generation Loy Yang Holdings 1 Ltd. 09 **Horizon Energy Holdings Ltd. 10 **Loy Yang Power Partners (24.63%) 10 Loy Yang Power Projects Pty Ltd (24.6%) 10 Loy Yang Power Management Pty Ltd (24.6%) 08 CMS Generation Loy Yang Holdings 2 Ltd. 09 **CMS Generation Horizon Energy Holdings Ltd. 10 Loy Yang Power Management Pty Ltd (25%) 10 **Loy Yang Power Partners (25%) 10 Loy Yang Power Projects Pty Ltd (25%) 05 Loy Yang Holdings No. 3 LLC (86%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 3 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang project. 06 Loy Yang Holdings Unit Trust No. 2 LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings Unit Trust No. 2 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 07 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 08 CMS Generation Loy Yang Holdings 1 Ltd. 09 **Horizon Energy Holdings Ltd. 10 **Loy Yang Power Partners (24.63%) 10 Loy Yang Power Projects Pty Ltd (24.6%) 10 Loy Yang Power Management Pty Ltd (24.6%) 08 CMS Generation Loy Yang Holdings 2 Ltd. 09 **CMS Generation Horizon Energy Holdings Ltd. 10 Loy Yang Power Management Pty Ltd (25%) 10 **Loy Yang Power Partners (25%) 10 Loy Yang Power Projects Pty Ltd (25%) 05 Loy Yang Holdings No. 4 LLC (86%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 4 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang project. 06 Loy Yang Holdings Unit Trust No. 2 LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings Unit Trust No. 2 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 07 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 08 CMS Generation Loy Yang Holdings 1 Ltd. 09 **Horizon Energy Holdings Ltd. 10 **Loy Yang Power Partners (24.63%) 10 Loy Yang Power Projects Pty Ltd (24.6%) 10 Loy Yang Power Management Pty Ltd (24.6%) 08 CMS Generation Loy Yang Holdings 2 Ltd. 09 **CMS Generation Horizon Energy Holdings Ltd. 10 Loy Yang Power Management Pty Ltd (25%) 10 **Loy Yang Power Partners (25%) 10 Loy Yang Power Projects Pty Ltd (25%) 04 CMS Gas Argentina Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Gas Argentina Company is a Cayman Islands corporation with an equity interest in Transportadora de Gas del Norte S.A., an Argentine corporation, which provides natural gas transmission services to the northern and central parts of Argentina. 05 Servicios de Aguas de Chile CMS y Compania Limitada (.01%) 05 Transportadora de Gas del Norte S.A. (TGN) (29.42%) 04 CMS Gas Offshore Investment Ltd. Address: One Energy Plaza Jackson, Michigan 49201 CMS Gas Offshore Investment Ltd. is a Cayman Islands corporation formed for the purposes of financing, procurement, rehabilitation, upgrading, extension, ownership, operation and maintenance of existing power generation and seawater desalination project at the Taweelah complex in Abu Dhabi. 04 CMS International Ventures, L.L.C. (37.01%) (See CMS Enterprises for list of subsidiaries) Address: One Energy Plaza Jackson, Michigan 49201 CMS International Ventures, L.L.C. is a Michigan limited liability company, formed to own, manage and sell certain of CMS Energy's international investments. 04 CMS Saginaw Bay Lateral Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Saginaw Bay Lateral Company is a Michigan corporation that holds the interest in lateral lines off the Saginaw Bay Pipeline systems. 04 CMS TriState Canada General Company Address: One Energy Plaza Jackson, Michigan 49201 CMS TriState Canada General Company is a Michigan corporation formed to hold a 1% General Partner interest in TriState Canada Limited Partnership, a Canadian partnership, which holds TriState Pipeline assets in Canada. 04 Nitrotec Corporation (50%) Address: One Energy Plaza Jackson, Michigan 49201 Nitrotec Corporation is a Delaware corporation formed to invest in plants that extract helium from natural gas. 03 CMS Generation Co. Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Co. is a Michigan corporation engaged in the development of and investment in cogeneration and other independent power generation projects, both domestic and foreign. 04 CMS Centrales Termicas S.A. (99%) Address: Edificio Torre Catalinas Plaza, Ing. Enrique Butty 220 8 Piso (Av. E. Madero Alt. 800/900) (1300) Buenos Aires, Argentina CMS Centrales Termicas S.A. is an Argentine corporation formed to own an interest in a 240 MW natural gas/fuel oil-fired electric power plant near Mendoza, Argentina. 05 Cuyana S.A. de Inversiones (1%) 06 *Centrales Termicas Mendoza, S.A. (92.6%) 04 CMS Generation Altoona Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Altoona Company is a Michigan corporation that is currently inactive. 04 CMS Generation Cebu Operating Limited Duration Company (99%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Cebu Operating Limited Duration Company is a Cayman Islands entity that is currently inactive. 04 CMS Generation Chateaugay Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Chateaugay Company is a Michigan corporation that is currently inactive. 04 CMS Generation Filer City, Inc. Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Filer City, Inc. is a Michigan corporation involved as a 50% General Partner in the T.E.S. Filer City Station Limited Partnership, a Michigan limited partnership that is the owner of the 54 megawatt (net) wood chip and coal-fired electric generating station in Filer City, Michigan. 04 CMS Generation Filer City Operating Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Filer City Operating Company is a Michigan corporation formed to operate a coal and waste wood-fueled power plant near Filer City, Michigan owned by the T.E.S. Filer City Station Limited Partnership. 04 CMS Generation Genesee Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Genesee Company is a Michigan corporation involved as a 1% General Partner in the Genesee Power Station Limited Partnership, a Delaware limited partnership, which owns and operates a 35-megawatt (net) waste wood-fired electric generating facility located in Genesee County, Michigan. 05 Genesee Power Station Limited Partnership (1%) 06 GPS Newco, L.L.C (50%) 04 CMS Generation Grayling Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Grayling Company is a Michigan corporation involved as a 1% General Partner in Grayling Generating Station Limited Partnership, a Michigan limited partnership, that owns a 36-megawatt (net) waste wood-fueled power plant in Grayling, Michigan. Grayling Generating Station Limited Partnership owns GGS Holdings Company, a Michigan corporation, which is a .5% General Partner in AJD Forest Products Limited Partnership, a Michigan limited partnership, that operates a sawmill adjacent to the Grayling Generating Station and also supplies waste wood fuel to Grayling Generating Station. Grayling Generating Station Limited Partnership is a 49.5% Limited Partner in AJD Forest Products Limited Partnership. 05 Grayling Generating Station Limited Partnership (1%) 06 GGS Holdings Company 05 Grayling Partners Land Development, L.L.C. (1%) 04 CMS Generation Honey Lake Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Honey Lake Company is a Michigan corporation with a General Partnership interest and a Limited Partnership interest in H L Power Company, a California limited partnership that uses waste wood and geothermal fluid to generate a 30-megawatt (net) electric generating station in Lassan County, California. It is also involved as General Partner in Honey Lake Energy I LP, and Honey Lake Energy II LP, both Michigan limited partnerships formed to own limited partnership interests in H L Power Company. 05 Honey Lake Energy I L.P. (99%) 06 H L Power Company (18.65%) 05 Honey Lake Energy II L.P. (99%) 06 H L Power Company (18.65%) 05 H L Power Company (.5%) 04 CMS International Ventures, L.L.C. (21.02%) (See CMS Enterprises for list of subsidiaries) 04 CMS Generation Lyonsdale Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Lyonsdale Company is a Michigan corporation that is currently inactive. 04 CMS Generation Grayling Holdings Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Grayling Holdings Company is a Michigan corporation involved as a 49% Limited Partner in Grayling Generating Station Limited Partnership, a Michigan limited partnership. Grayling Generating Station Limited Partnership owns GGS Holdings Company, a Michigan corporation that owns a .5% General Partner interest in AJD Forest Products Limited Partnership, a Michigan limited partnership. 05 Grayling Generating Station Limited Partnership (49%) 06 GGS Holdings Company 05 Grayling Partners Land Development LLC (49%) 04 CMS Generation Holdings Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Holdings Company is a Michigan corporation involved as a limited partner in various proposed partnerships. 05 CMS Centrales Termicas S.A. (1%) 05 Genesee Power Station Limited Partnership (.5%) 06 GPS Newco, L.L.C. (50%) 05 GPS Newco, L.L.C. (50%) 05 CMS Generation, S.R.L. (.01%) 06 *Hidroelectrica El Chocon S.A. (2.48%) 06 Hidroinvest S.A. (25%) 07 *Hidroelectrica El Chocon S.A. (59%) 05 Moose River Properties (50%) 05 *CMS Ensenada S.A. (1%) 05 CMS Operating, S.R.L. (.001%) 05 Metro East, L.L.C. (50%) 05 McCook Cogeneration Station, L.L.C (50%) 04 Dearborn Industrial Energy, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 Dearborn Industrial Energy, L.L.C. is a Michigan limited liability company formed to hold the ownership interest in Dearborn Industrial Generation, L.L.C. and to obtain an air permit for the Dearborn Industrial Generation Project. 05 *Dearborn Industrial Generation, L.L.C. 04 *Dearborn Generation Operating, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 Dearborn Generation Operating, L.L.C. is a Michigan limited liability company formed to operate the cogeneration facility located at the Ford Rouge plant. 04 CMS Generation Investment Company IV 05 CMS Generation Investment Company II 06 CMS Generation Jorf Lasfar I Limited Duration Company (65%) 07 Jorf Lasfar Handelsbolag (50%) 07 Jorf Lasfar I HB (50%) 07 Jorf Lasfar Power Energy HB (50%) 06 CMS Generation Jorf Lasfar II Limited Duration (65%) 07 Jorf Lasfar Handelsbolag (50%) 07 Jorf Lasfar I HB (50%) 07 Jorf Lasfar Power Energy HB (50%) 06 CMS Generation Cebu Operating Limited Duration Company (1%) 06 CMS Generation Jegurupadu I Limited Duration Company (1%) 07 Jegurupadu O&M Company Mauritius (50%) 08 *Jegurupadu Operating & Maintenance Company (60%) 06 CMS Generation Jegurupadu II Limited Duration Company (1%) 07 Jegurupadu O&M Company Mauritius (50%) 08 *Jegurupadu Operating and Maintenance Company (60%) 06 CMS Generation Pinamucan Limited Duration Company (1%) 06 CMS Generation Pinamucan Operating Limited Duration Company (1%) 05 CMS Generation Jorf Lasfar III Limited Duration Company (50%) 05 CMS Generation Luxembourg II S.a.r.l. 06 CMS Generation Luxembourg S.a.r.l. 07 CMS Generation Netherlands B.V. 08 Jorf Lasfar Energlaktiebolag 09 *Jorf Lasfar Energy Company (25%) 08 Jorf Lasfar Power Energy Aktiebolag 09 *Jorf Lasfar Energy Company (23%) 05 CMS Generation Jorf Lasfar I Limited Duration Company (35%) 06 Jorf Lasfar Handelsbolag (50%) 07 *Jorf Lasfar Energy Company (2%) 05 CMS Generation Jorf Lasfar II Limited Duration Company (35%) 06 Jorf Lasfar Handelsbolag (50%) 07 *Jorf Lasfar Energy Company (2%) 04 CMS Generation Investment Company VI 05 CMS Takoradi Investment Company 06 CMS Takoradi Investment Company II 07 *Takoradi International Company (Ghana) (90%) 04 CMS Generation Investment Company VII 05 CMS Generation Taweelah Limited 06 **Emirates CMS Power Company (40%) 07 Taweelah Shared Facilities Company LLC (17%) 05 CMS Jubail Investment Company I 06 *Jubail Energy Company (25%) 05 Shuweihat General Partner Company (50%) 06 Shuweihat Limited Partnership (1%) 07 *Shuweihat CMS International Power Company (UAE) (40%) 05 Shuweihat Limited Partnership (49.5%) 06 *Shuweihat CMS International Power Company (UAE) (40%) 05 *Shuweihat O&M Limited Partnership (49.5%) 05 Shuweihat O&M General Partner Company (50%) 06 *Shuweihat O&M Limited Partnership (1%) 05 Servicios de Aguas de Chile CMS y Compania Limitada (99.99%) 05 *CMS (India) Operations & Maintenance Company Private Limited (1%) 04 CMS Generation Montreal Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Montreal Company is a Michigan corporation that is currently inactive. 04 *CMS Generation Operating Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Operating Company is a New York corporation involved in the operation of various power plants throughout the United States. 04 CMS Generation Recycling Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Recycling Company is a Michigan corporation that owns 50% of Mid-Michigan Recycling, L.L.C. Mid-Michigan Recycling, L.L.C. was created to be involved in supplying waste wood fuel for the Genesee Power Station Limited Partnership. 05 Mid-Michigan Recycling, L.L.C. (50%) 04 *CMS International Operating Company Address: One Energy Plaza Jackson, Michigan 49201 CMS International Operating Company is a Cayman Islands corporation, formed to own and control project operating and maintenance companies. 05 CMS Generation UK Operating Private Limited 06 Jorf Lasfar Aktiebolag 07 *CMS Morocco Operating Co., S.C.A. (99.7%) 05 *CMS (India) Operations & Maintenance Company Private Limited (99%) 05 CMS Generation Jorf Lasfar III Limited Duration Company (50%) 04 *CMS Generation Michigan Power L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Michigan Power L.L.C. is a Michigan limited liability company formed to own generating units which are to be sited in Michigan for the purpose of generating power during peak demand periods. 04 Exeter Management Company Address: One Energy Plaza Jackson, Michigan 49201 Exeter Management Company is a Connecticut corporation involved as the General Partner in the Exeter Energy Limited Partnership, which owns and operates the 29.8MW tire-fueled cogeneration plant in Sterling, Connecticut. 04 *Hidroelectrica El Chocon S.A. (2.48%) Address: 8311 Neuquen Neuquen Province Villa El Chocon Argentina Hidroelectrica El Chocon S.A. is an Argentine company, which holds a thirty-year concession to operate two hydroelectric power plants in Argentina. 04 Honey Lake I, L.P. (1%) Address: One Energy Plaza Jackson, Michigan 49201 Honey Lake I, L.P. is a California limited partnership created to participate as a 24.75% limited partner in the cogeneration facility at Honey Lake, California. 05 H L Power Company (18.65%) 04 Honey Lake II, L.P. (1%) Address: One Energy Plaza Jackson, Michigan 49201 Honey Lake II, L.P. is a California limited partnership created to participate as a 24.75% limited partner in the cogeneration facility at Honey Lake, California. 05 H L Power Company (18.65%) 04 HYDRA-CO Enterprises, Inc. Address: One Energy Plaza Jackson, Michigan 49201 HYDRA-CO Enterprises, Inc. is a New York corporation involved in the management and operation of various power plants. The plants are fueled by coal, natural gas, waste wood and water (hydro). It also has construction management responsibility for a 60MW diesel-fueled power plant in Jamaica. 05 Caribbean Electric Power (40%) 05 CMS Generation Operating Company II, Inc. 06 HCO-Jamaica, Inc. 07 *Private Power Operators Limited (99%) 05 CMS Generation Stratton Company 05 HCE-Biopower, Inc. 05 HCE-Jamaica Development, Inc. 05 HCE-Rockfort Diesel, Inc. 06 *Jamaica Private Power Company, Limited (45.07%) 06 *Private Power Operators Limited (1%) 05 HYDRA-CO Generation, Inc. 05 Little Falls Hydropower Associates (33.33%) 05 Lock 17 Management Group (33.33%) 05 Lock 17 Group (33.33%) 05 New Bern Energy Recovery, Inc. 05 Jamaica Energy Team Limited (59.7%) 04 Loy Yang Holdings No. 1 LLC (14%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 1 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang Project. 05 Loy Yang Holdings Unit Trust No. 1 LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings Unit Trust No. 1 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 06 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 07 CMS Generation Loy Yang Holdings 1 Ltd. 08 **Horizon Energy Holdings Ltd. 09 **Loy Yang Power Partners (24.63%) 09 Loy Yang Power Projects Pty Ltd (24.6%) 09 Loy Yang Power Management Pty Ltd (24.6%) 07 CMS Generation Loy Yang Holdings 2 Ltd. 08 **CMS Generation Horizon Energy Holdings Ltd. 09 Loy Yang Power Management Pty Ltd (25%) 09 **Loy Yang Power Partners (25%) 09 Loy Yang Power Projects Pty Ltd (25%) 04 Loy Yang Holdings No. 2 LLC (14%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 2 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang project. 05 Loy Yang Holdings Unit Trust No. 1 LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Trust Management No. 1 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 06 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 07 CMS Generation Loy Yang Holdings 1 Ltd. 08 **Horizon Energy Holdings Ltd. 09 **Loy Yang Power Partners (24.63%) 09 Loy Yang Power Projects Pty Ltd (24.6%) 09 Loy Yang Power Management Pty Ltd (24.6%) 07 CMS Generation Loy Yang Holdings 2 Ltd. 08 **CMS Generation Horizon Energy Holdings Ltd. 09 Loy Yang Power Management Pty Ltd (25%) 09 **Loy Yang Power Partners (25%) 09 Loy Yang Power Projects Pty Ltd (25%) 04 Loy Yang Holdings No. 3 LLC (14%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 3 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang project. 05 Loy Yang Holdings Unit Trust No. 2 LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings Unit Trust No. 2 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 06 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 07 CMS Generation Loy Yang Holdings 1 Ltd. 08 **Horizon Energy Holdings Ltd. 09 **Loy Yang Power Partners (24.63%) 09 Loy Yang Power Projects Pty Ltd (24.6%) 09 Loy Yang Power Management Pty Ltd (24.6%) 07 CMS Generation Loy Yang Holdings 2 Ltd. 08 **CMS Generation Horizon Energy Holdings Ltd. 09 Loy Yang Power Management Pty Ltd (25%) 09 **Loy Yang Power Partners (25%) 09 Loy Yang Power Projects Pty Ltd (25%) 04 Loy Yang Holdings No. 4 LLC (14%) Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings No. 4 LLC is a Delaware limited liability company that holds a beneficial interest in a trust that owns an interest in the Loy Yang project. 05 Loy Yang Holdings Unit Trust No. 2 LLC Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Holdings Unit Trust No. 2 LLC is a Delaware limited liability company that acts as a trustee of a trust involved in the Loy Yang project. 06 CMS Generation Investment Company I (50%) Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company I is a Cayman Islands corporation involved as a holding company for CMS Generation Co.'s overseas investments that engage in the construction, ownership or operation of the Loy Yang power project. 07 CMS Generation Loy Yang Holdings 1 Ltd. 08 **Horizon Energy Holdings Ltd. 09 **Loy Yang Power Partners (24.63%) 09 Loy Yang Power Projects Pty Ltd (24.6%) 09 Loy Yang Power Management Pty Ltd (24.6%) 07 CMS Generation Loy Yang Holdings 2 Ltd. 08 **CMS Generation Horizon Energy Holdings Ltd. 09 Loy Yang Power Management Pty Ltd (25%) 09 **Loy Yang Power Partners (25%) 09 Loy Yang Power Projects Pty Ltd (25%) 04 Loy Yang Trust Management No. 1 LLC Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Trust Management No. 1 LLC is a Delaware limited liability company that acts as an institutional manager for the trustees of trusts involved in the Loy Yang project. 04 Loy Yang Trust Management No. 2 LLC Address: One Energy Plaza Jackson, Michigan 49201 Loy Yang Trust Management No. 2 LLC is a Delaware limited liability company that acts as an institutional manager for the trustees of trusts involved in the Loy Yang project. 04 McCook Cogeneration Station, L.L.C. (50%) Address: One Energy Plaza Jackson, Michigan 49201 McCook Cogeneration Station, L.L.C. is a Michigan limited liability company that is currently inactive. 04 McCook Waste Wood Recovery Facility, L.L.C. (50%) Address: One Energy Plaza Jackson, MI 49201 McCook Waste Wood Recovery Facility, LLC is a Michigan limited liability company that is currently inactive. 04 Metro East, L.L.C. (50%) Address: One Energy Plaza Jackson, Michigan 49201 Metro East, L.L.C. is a Michigan limited liability company that is currently inactive. 04 Midland Cogeneration Venture Expansion, LLC (50%) Address: One Energy Plaza Jackson, Michigan 49201 Midland Cogeneration Venture Expansion, LLC is a Delaware limited liability company formed to develop the MCV Expansion, including ordering and funding long-lead equipment. 04 Notera Holding B.V. Address: A. J. Ernststraat 595 H 1082 LD Amsterdam, The Netherlands Notera Holding B.V. is a Netherlands corporation and currently inactive. 04 Oxford Tire Supply, Inc. Address: One Energy Plaza Jackson, Michigan 49201 Oxford Tire Supply, Inc. is a Delaware corporation that is currently inactive. 04 Oxford Tire Recycling, Inc. Address: One Energy Plaza Jackson, Michigan 49201 Oxford Tire Recycling, Inc. is a Delaware corporation that is currently inactive. 04 Scudder Latin America Power I-C LDC (25%) Address: 345 Park Avenue New York, New York 10154-0010 Scudder Latin America Power I-C LDC is a Cayman Islands corporation formed for the purposes of an Investment Fund to invest (primarily passively) in electric generating facilities and the electric infrastructure in Latin America and the Caribbean. 04 **Taweelah A2 Operating Company Address: One Energy Plaza Jackson, Michigan 49201 Taweelah A2 Operating Company is a Michigan corporation formed to operate the Taweelah A2 project through a branch office in Abu Dhabi, United Arab Emirates. 03 CMS International Ventures, L.L.C. (40.47%) Address: One Energy Plaza Jackson, Michigan 49201 CMS International Ventures, L.L.C. is a Michigan limited liability company, formed to own, manage and sell certain of CMS Energy's international investments. 04 CMS Electric & Gas, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS Electric & Gas, L.L.C. is a Michigan limited liability company. CMS International Distribution LLC and CMS Electric and Gas Company merged in December 2002 to form CMS Electric & Gas, L.L.C. 05 CMS Comercialzadora de Energia Ltda. (99.99%) 05 CMS Distribuidora Ltda. (99.99%) 06 CMS Participacoes Ltda. (99.99%) 07 Agropecuaria Turvinho Ltda. (.01%) 07 **Companhia Paulista de Energia Eletrica (CPEE) a Brazilian corporation (93.86%) 08 Agropecuaria Turvinho Ltda. (99.99%) 08 **Companhia Sul Paulista de Energia Eletrica (CSPE), a Brazilian corporation (88.63%) 09 **Companhia Jaguari de Energia S.A. (CJE), a Brazilian corporation 10 **Compania Luz e Forca de Mococo SA (CLFM) 10 CPEE Equipamentos Eletricos e Servicos Ltda. (99.86%) 08 Paulista Lajeado Energia SA (7%) 08 Companhia Nova Paulista de Energia 05 CMS Electric and Gas Moldova, L.L.C. 05 CMS Electric and Gas Sucursal (branch) Argentina 05 CMS Empreendimentos Ltda (99.99%) 05 CMS Netherlands Funding Company 05 CMS Venezuela S.A. 06 **Sistema Electrico del Estado Nueva Esparta C.A. (SENECA) (52.37%) 05 ENELMAR, SA 06 **Sistema Electrico del Estado Nueva Esparta C.A. (SENECA) (33.34%) 04 CMS Generation Investment Company III Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company III is a Cayman Islands corporation formed to have an ownership interest in certain Indian power generation projects. 05 CMS Energy Mauritius Limited 06 TN LNG & Power Co. Pvt. Ltd. (India) (TIDCO) (26.67%) 05 CMS Generation Jegurupadu I Limited Duration Company (99%) 06 Jegurupadu O&M Company Mauritius (50%) 07 *Jegurupadu Operating & Maintenance Company (60%) 05 CMS Generation Jegurupadu II Limited Duration Company (99%) 06 Jegurupadu O&M Company Mauritius (50%) 07 *Jegurupadu Operating & Maintenance Company (60%) 05 CMS Generation Neyveli Ltd. (100%) 06 *ST-CMS Electric Company Pvt. Ltd. (50%) 06 ST-CMS Electric Company (Mauritius) (41.5%) 05 Jegurupadu CMS Generation Company Ltd. 06 *GVK Industries Ltd. (23.75%) 04 CMS Generation Investment Company V Address: One Energy Plaza Jackson, Michigan 49201 CMS Generation Investment Company V is a Cayman Islands corporation formed to separate projects on a regional basis in order to provide CMS Energy more liability protection. 05 Compania de Inversiones CMS Energy Chile Limitada (40%) 06 Gasoducto Atacama Argentina Limitada (10%) 06 Gasoducto Atacama Chile Limitada (50%) 07 Progas S.A. (99.99%) 07 Gasoducto Taltal Ltda. (99%) 06 GasAtacama Generacion Limitada (50%) 07 Progas S.A. (.01%) 07 Empresa de Transmission Electra Transemel S.A. (40%) 07 CDEC-SING Limitada (16.666%) 06 GasAtacama S.A. (50%) 05 Gasoducto Atacama Argentina Limitada (20%) 06 Gasoducto Taltal Ltda. (1%) 05 Scudder Latin American Power I-P L.D.C. (25%) 05 Scudder Latin American Power II-P L.D.C. (4%) 04 CMS Generation, S.R.L. (99.99%) Address: Edificio Torre Catalinas Plaza, Ing. Enrique Butty 220 8 Piso (Av. E. Madero Alt. 800/900) (1300) Buenos Aires, Argentina CMS Generation, S.R.L. is an Argentine corporation formed to invest in a hydroelectric power concession in Argentina. 05 Hidroinvest S.A. (25%) 06 *Hidroelectrica El Chocon S.A. (59%) 04 **CMS Operating, S.R.L. (99.999%) Address: Edificio Torre Catalinas Plaza, Ing. Enrique Butty 220 8 Piso (Av. E. Madero Alt. 800/900) (1300) Buenos Aires, Argentina CMS Operating, S.R.L. is an Argentine corporation created to have a 80.55% interest (through its subsidiary Cuyana de Inversiones, S.A.) in the Centrales Termicas Mendoza, S.A. partnership. Centrales Termicas Mendoza, S.A. was formed to acquire, own and operate the Lujan de Cuyo and Cruz de Piedra power plants in Argentina. 05 *CMS Ensenada S.A. (99%) 05 Cuyana S.A. de Inversiones (99%) 06 Centrales Termicas Mendoza, S.A. (92.6%) 05 Transportadora de Gas del Mercosur (Argentina) (20%) 04 Western Australia Gas Transmission Company I Address: One Energy Plaza Jackson, Michigan 49201 Western Australia Gas Transmission Company I is a Cayman Islands corporation which is a holding company for certain international assets. 05 CMS Gas Transmission del Sur Company 06 CMS Atacama Company 06 Compania de Inversiones CMS Energy-Chile Ltda (60%) 07 GasAtacama S.A. (50%) 07 Gasoducto Atacama Argentina Limitada (10%) 07 Gasoducto Atacama Chile Limitada (50%) 08 Gasoducto Taltal Limitada (99%) 08 Progas S.A. (99.99%) 07 GasAtacama Generacion Limitada (50%) 08 CDEC-SING (16.666%) 08 Empresa de Transmision Electrica Transemel S.A. (40%) 08 Progas S.A. (.01%) 06 Gasoducto Atacama Argentina Limitada (20%) 07 Gasoducto Taltal Ltda (1%) 05 CMS Gas Transmission of Australia Holdings Company 06 CMS Gas Transmission of Australia 05 CMS International Finance Services Company 05 CMS Luxembourg SARL 06 Valandrid BV 07 CMS Goldfields Gas Transmission Australia PTY. LTD. 08 SCP Investments (No. 1) PTY. LTD (45%) 09 SCP Investments (No. 2) PTY. LTD 10 Southern Cross Pipelines Australia PTY. LTD 11 Goldfields Gas Transmission Joint Venture (66.664%) 12 Goldfields Gas Transmission Pty. Ltd. 09 SCP Investments (NO 3) PTY. LTD 10 Southern Cross Pipelines (NPL) Australia PTY. LTD 11 Goldfields Gas Transmission Joint Venture (25.5%) 12 Goldfields Gas Transmission PTY. LTD 05 CMS Parmelia Gas Transmission Pty Ltd. 03 CMS Land Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Land Company is a Michigan corporation formed to act as a repository for any unused real property formerly owned by Consumers Energy Company, and hold the same for possible non-utility development. 03 CMS Energy Resource Management Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Energy Resource Management Company (CMS ERM) is a Michigan corporation involved in providing gas, electric, oil and coal marketing, risk management and energy management services. CMS ERM was formerly known as CMS Marketing, Service and Trading Company (CMS MST). 04 CMS Merchant Services, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS Merchant Services, L.L.C. is a Michigan limited liability company formed for the purpose of purchasing capacity under the FERC's capacity release regulations for monthly transactions. 04 CMS Viron Corporation Address: One Energy Plaza Jackson, Michigan 49201 CMS Viron Corporation is a Missouri corporation formed to provide services in the area of energy usage analysis and the engineering and implementation of energy conservation measures. 04 CMS ERM Michigan LLC Address: One Energy Plaza Jackson, Michigan 49201 CMS ERM Michigan LLC is a Michigan limited liability company formed for the sole purpose of taking an assignment of the Ford/Rouge Electricity Sales Agreements from Dearborn Industrial Generation L.L.C. and to perform those contracts. CMS ERM Michigan LLC was formerly known as CMS MS&T Michigan L.L.C. 04 CMS Texon Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Texon Company is a Michigan corporation involved as a General Partner in Texon, LP, a Texas limited partnership engaged in transporting, processing and marketing of crude oil and natural gas liquids and services related thereto. 04 Dorman Energy, L.L.C. (49%) Address: One Energy Plaza Jackson, Michigan 49201 Dorman Energy, L.L.C. is a Michigan limited liability company formed as a partner with a minority controlled energy business to pursue minority set-aside energy contracts. 04 Premstar Energy Canada Ltd (50%) Address: 330 Richmond Street Suite 104 Chatham, Ontario Canada N7M 1P7 Premstar Energy Canada Ltd is a Canadian corporation engaged in purchasing, transporting, storing, selling, brokering and marketing natural gas in North America and energy-related consulting. 05 ECNG Inc (88%) 05 Energistics Group, Inc. 05 Premstar Metering Inc. (70%) 06 Canadian Meter Services Ltd. 03 CMS Resource Development Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Resource Development Company is a Michigan corporation formed to pursue and develop various power sources outside the United States. 03 CMS MicroPower Systems, L.L.C. Address: One Energy Plaza Jackson, Michigan 49201 CMS MicroPower Systems, L.L.C. is a Michigan limited liability company formed for the purpose of leasing portable generation assets. 03 CMS Texas LLC Address: One Energy Plaza Jackson, Michigan 49201 CMS Texas LLC is a Texas limited liability company formed to conduct business activities in Texas. 03 Explotaciones CMS Oil and Gas Company Address: One Energy Plaza Jackson, Michigan 49201 Explotaciones CMS Oil and Gas Company is a Delaware corporation and currently inactive. 02 CONSUMERS ENERGY COMPANY Address: One Energy Plaza Jackson, Michigan 49201 The consolidated operations of Consumers Energy Company ("Consumers") account for the largest share of CMS Energy's total assets and income and account for a substantial portion of its revenues. The name, state of organization and nature of business of Consumers' subsidiaries are described below: 03 CMS Engineering Co. Address: One Energy Plaza Jackson, Michigan 49201 CMS Engineering Co. is a Michigan corporation engaged in offering design, engineering, project management and related construction services to natural gas utilities, natural gas exploration and production companies, and other energy businesses. 03 CMS Midland Holdings Company Address: One Energy Plaza Jackson, Michigan 49201 CMS Midland Holdings Company is a Michigan corporation involved as a Limited Partner in the First Midland Limited Partnership, a Delaware limited partnership that leases assets to the Midland Cogeneration Venture Limited Partnership, a Michigan limited partnership. 03 CMS Midland, Inc. Address: One Energy Plaza Jackson, Michigan 49201 CMS Midland, Inc. is a Michigan corporation involved as a 49% General Partner in the Midland Cogeneration Venture Limited Partnership, a Michigan limited partnership. 03 Consumers Campus Holdings, LLC Address: One Energy Plaza Jackson, Michigan 49201 Consumers Campus Holdings, LLC is a Michigan limited liability company formed for the purpose of being the lessee in the synthetic lease financing of the new Consumers Energy Company office building located in downtown Jackson, Michigan. 03 Consumers Funding LLC Address: One Energy Plaza Jackson, Michigan 49201 Consumers Funding LLC is a Delaware limited liability company formed for the purpose of acting as issuer of securitization bonds and assignee of property transferred by Consumers. 03 Consumers Nuclear Services LLC Address: One Energy Plaza Jackson, Michigan 49201 Consumers Nuclear Services LLC is a Michigan corporation formed for the purpose of holding the 20% member interest in Nuclear Management Company LLC. 04 Nuclear Management Company LLC (20%) Address: 700 First Street Hudson, Wisconsin 54016 Nuclear Management Company LLC is a Wisconsin limited liability company formed to enhance reliability, continue safe operation, and pursue overall excellence, in nuclear power operations, as well as to identify efficiencies in the provision of operating services to nuclear facilities. 03 Consumers Receivables Funding, LLC Address: One Energy Plaza Jackson, Michigan 49201 Consumers Receivables Funding, LLC is a Delaware limited liability company formed for the purpose of buying certain accounts receivable from Consumers Energy Company and selling them to a third party. 03 Consumers Receivables Funding II LLC Address: One Energy Plaza Jackson, Michigan 49201 Consumers Receivables Funding II LLC is a Delaware limited liability company that buys certain accounts receivable from Consumers Energy Company and sells them to a third party. 03 ES Services Company Address: One Energy Plaza Jackson, Michigan 49201 ES Services Company is a Michigan corporation formed for the purpose of offering design, engineering, project management and related services primarily to electric utilities and generation facilities. 03 MEC Development Corp. Address: One Energy Plaza Jackson, Michigan 49201 MEC Development Corp. is a Michigan corporation that previously held assets transferred to, and was holder of certain bonds issued by, the Midland Cogeneration Venture Limited Partnership, a Michigan limited partnership. 2. A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES USED FOR THE GENERATION, TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION, TRANSMISSION AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING THE LOCATION OF PRINCIPAL GENERATING PLANTS, TRANSMISSION LINES, PRODUCING FIELDS, GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS DISTRIBUTION FACILITIES, INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE THE STATE IN WHICH CLAIMANT AND ITS SUBSIDIARIES ARE ORGANIZED AND ALL TRANSMISSION OR PIPELINES WHICH DELIVER OR RECEIVE ELECTRIC ENERGY OR GAS AT THE BORDERS OF SUCH STATE. - -------------------------------------------------------------------------------- Claimant has no directly owned properties used for such purposes. Claimant's subsidiary, Consumers Energy Company ("Consumers") is a public utility. Its property and facilities used for the above-described purposes are located within the State of Michigan and are described below. (1) ELECTRIC PROPERTIES Consumers' electric generation is supplied by the following plants:
2003 2003 SUMMER NET SIZE AND YEAR DEMONSTRATED NET GENERATION NAME AND LOCATION (MICHIGAN) ENTERING SERVICE CAPABILITY (KW) (THOUSANDS OF KWHS) - ---------------------------- ---------------- --------------- ------------------- Coal Generation J H Campbell 1&2 -- West Olive 2 Units, 1962-1967 615,000 4,252,974 J H Campbell 3 -- West Olive 1 Unit, 1980 765,140(a) 5,657,104 D E Karn -- Essexville 2 Units, 1959-1961 511,000 3,428,844 B C Cobb - Muskegon 2 Units, 1956-1957 312,000 2,166,191 J R Whiting -- Erie 3 Units, 1952-1953 326,000 2,256,427 J C Weadock - Essexville 2 Units, 1955-1958 302,000 2,329,656 TOTAL COAL GENERATION 2,831,140 20,091,196 --------- ---------- Oil/Gas Generation B C Cobb -- Muskegon 3 Units, 1999-2000(b) 183,000 6,151 D E Karn - Essexville 2 Units, 1975-1977 1,276,000 351,461 TOTAL OIL/GAS GENERATION 1,459,000 357,612 --------- ------- Hydroelectric Conventional Hydro 13 Plants, 1907- 73,540 335,182 Generation 1949 Ludington Pumped Storage 6 Units, 1973 (517,278)(d) 954,700(c)
TOTAL HYDROELECTRIC 1,028,240 (182,096) --------- --------- Nuclear Generation Palisades -- South Haven 1 Unit, 1971 767,000 6,151,481 TOTAL NUCLEAR GENERATION 767,000 6,151,481 ------- --------- Gas/Oil Combustion Turbine Generation 7 Plants, 1966-1999 345,000 12,954 TOTAL GAS/OIL COMBUSTION TURBINE 345,000 12,954 ------- ------ TOTAL OWNED GENERATION 6,430,300 26,431,147 --------- ========== Purchased and Interchange Power Capacity 1,991,200(e) ------------ TOTAL 8,421,500
(a) Represents Consumers' share of the capacity of the J H Campbell 3, net of 6.69 percent (ownership interests of the Michigan Public Power Agency and Wolverine Power Supply Cooperative, Inc.). (b) Cobb 1-3 are retired coal fired units that were converted to gas fired. Units were placed back into service in the years indicated. (c) Represents Consumers' share of the capacity of Ludington. Consumers and Detroit Edison have 51 percent and 49 percent undivided ownership, respectively, in the plant. (d) Represents Consumers' share of net pumped storage generation. This facility electrically pumps water during off-peak hours for storage to later generate electricity during peak-demand hours. (e) Includes 1,240 MW of purchased contract capacity from the MCV Facility. Consumers' electric subtransmission and distribution lines are located on or under public highways, streets, alleys and lands, or on or under private land pursuant to easements or other rights. Consumers' subtransmission system consists of 347 miles of 138 kV high voltage distribution radial lines as well as 4,164 structural miles of overhead and 16 subsurface miles of underground 23 kV and 46 kV high voltage distribution lines. The distribution system consists of 54,922 structural miles of overhead lines and 8,526 subsurface miles of underground lines. Consumers owns substations having an aggregate transformer capacity of 20,605,680 kilovoltamperes. On April 1, 2001, Consumers transferred its investment in electric transmission lines and substations to a wholly owned subsidiary, Michigan Electric Transmission Company (METC). On May 1, 2002, Consumers sold its interest in METC to a third party, Michigan Transco Holdings, LLC, and no longer owns transmission facilities. The new transmission company is called Michigan Electric Transmission Company, LLC (METC, LLC). Consumers is interconnected to METC, LLC. METC, LLC is interconnected with neighboring utilities as well as out-state transmission systems. (2) Gas Properties Consumers' gas distribution and transmission system consists of 25,551 miles of distribution mains and 1,624 miles of transmission lines throughout Michigan's lower peninsula. It owns and operates seven compressor stations with a total of 162,000 installed horsepower. Consumers has 14 gas storage fields located across Michigan with an aggregate storage capacity of 330.8 bcf. ------------------------------------------------------------------------- 3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT TO CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES: ------------------------------------------------------------------------- ELECTRIC ENERGY (a) NUMBER OF KWH OF ELECTRIC ENERGY SOLD AT RETAIL OR WHOLESALE.
SUBSIDIARY kWh ---------- --- Consumers Energy Total 36,010,387,414 CMS MST Total 5,313,575,134 -------------- Total Electric Energy Sold at Retail or Wholesale 41,323,962,548 ============== (b) NUMBER OF KWH OF ELECTRIC ENERGY DISTRIBUTED AT RETAIL OUTSIDE MICHIGAN. SUBSIDIARY kWh ---------- --- Consumers Energy Total 0 CMS MST Total 0 - Total Electric Energy Distributed Outside of the State of Michigan 0 === (c) NUMBER OF KWH OF ELECTRIC ENERGY SOLD AT WHOLESALE OUTSIDE MICHIGAN OR AT MICHIGAN'S STATE LINE. SUBSIDIARY kWh ---------- ---
523,268,000 Consumers Energy Total CMS MST Total 3,574,745,950 ------------- Total Electric Energy Sold at Wholesale Outside the State of Michigan or at Michigan's State Line. 4,098,013,950 =============
(d) NUMBER OF KWH OF ELECTRIC ENERGY PURCHASED OUTSIDE MICHIGAN OR AT MICHIGAN'S STATE LINE.
SUBSIDIARY kWh ---------- --- Consumers Energy Total 2,082,688,000 CMS MST Total 3,391,856,000 ------------- Total Electric Energy Purchased Outside of Michigan 5,474,544,000 =============
NATURAL GAS The following information represents natural gas only. CMS Energy does not deal with or in manufactured gas. (a) NUMBER OF MCF OF NATURAL GAS DISTRIBUTED AT RETAIL.
SUBSIDIARY Mcf ---------- --- Consumers Energy Total 257,343,000 CMS MST Total 24,101,296 ----------- Total Natural Gas Distributed at Retail 281,444,296 ===========
(b) NUMBER OF MCF OF NATURAL GAS DISTRIBUTED AT RETAIL OUTSIDE MICHIGAN.
SUBSIDIARY Mcf ---------- --- Consumers Energy Total 0 CMS MST Total 3,443,264 --------- Total Natural Gas Distributed at Retail 3,443,264 ========= Outside the State of Michigan
(c) NUMBER OF MCF OF NATURAL GAS SOLD AT WHOLESALE OUTSIDE MICHIGAN OR AT MICHIGAN'S STATE LINE.
SUBSIDIARY Mcf ---------- --- Consumers Energy Total 0 CMS MST Total 39,193,919 ---------- Total Natural Gas Sold at Wholesale Outside Michigan or at Michigan's State Line. 39,193,919 ===========
(d) NUMBER OF MCF OF NATURAL GAS PURCHASED OUTSIDE MICHIGAN.
SUBSIDIARY Mcf ---------- --- Consumers Energy Total 270,722,000 CMS MST Total 67,864,105 ---------- Total Natural Gas Purchased Outside of Michigan 338,586,105 ===========
4. THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT TO CLAIMANT AND EACH INTEREST IT HOLDS DIRECTLY OR INDIRECTLY IN AN EWG OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES DOLLARS: (a) Name, location, business address and description of the facilities used by the EWG or foreign utility company for the generation, transmission and distribution of electric energy for sale or for the distribution at retail of natural or manufactured gas; (b) Name of each system company that holds an interest in such EWG or foreign utility company; and description of the interest held; (c) Type and amount of the capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other financial obligation for which there is recourse, directly or indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign utility company; (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period; and (e) Identify any service, sales or construction contract(s) between the EWG or foreign utility company and a system company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s). CMS ENERGY'S EWGs AND FUCOs As of December 31, 2003, CMS Energy had interests in 23 EWGs and 11 FUCOs: EXEMPT WHOLESALE GENERATORS: 1. CENTRALES TERMICAS MENDOZA, S.A. ("CTM") (a) Centrales Termicas Mendoza, S.A. Edificio torre Catalinas Plaza Ing. Butty 220, 8th Floor Buenos Aires, Argentina Centrales Termicas Mendoza, S.A., an Argentine company, is the owner of a 540 MW facility in Lujon de Cuyo and a 15 MW generating unit in Cruz de Piedra, both located in Mendoza. (b) CMS Enterprises Company owns 40.47%, CMS Gas Transmission Company owns 37.01% and CMS Generation Co. owns 21.02% of CMS International Ventures, L.L.C. CMS International Ventures, L.L.C. owns 99.999% of CMS Operating, S.R.L., which owns 99% of Cuyana S.A. de Inversiones. Cuyana S.A. de Inversiones owns 92.6% of CTM. (c) As of December 31, 2003, CMS Generation Co. has invested approximately $37.51 million in CTM through its subsidiaries CMS Operating S.R.L. and Cuyana de Inversiones S.A.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 36,425 Irrevocable Contributions $ 139,221 CTA $ 116,131 Retained Earnings $ 1,215 Total $ 60,730 Net Income (Loss) for the period ended 12/31/03 $ 1,566
(e) As of December 31, 2003, Centrales Termicas Mendoza, S.A., had a Contract of Operation with CMS Operating S.R.L. This is a consulting contract in connection with the operation and maintenance of the facility. In 2003, total fees earned from the contract were $556,683. 2. CENTRALES TERMICAS SAN NICOLAS, S.A. ("CTSN") (a) Centrales Termicas San Nicolas, S.A. Rivadavia S/N 2900 San Nicolas Prov. Buenos Aires, Argentina CTSN, an Argentine company, is owner and operator of a 650 MW power plant located in San Nicolas, Argentina, north of Buenos Aires, Argentina. The five-unit plant can be fueled by coal, petroleum coke, oil or natural gas. CMS Generation Co. holds a 0.016% indirect ownership interest in CTSN. (b) CMS Generation Co. has .1% interest in CMS Generation San Nicolas Company, which has a .1% interest in Inversora San Nicolas, S.A, which owns 88% interest in CTSN. The remaining 12% interest is held by the Argentine government on behalf of the facility's employees. See Exhibit B. On July 7, 1995, AES Argentina, Inc. purchased a 99.9% ownership interest in CMS Generation San Nicolas Company, represented by 9,990 newly issued shares, leaving CMS Generation Co. with a 0.016% indirect ownership interest in CTSN. (c) As of December 31, 2003, CMS Generation San Nicolas Company had invested approximately $4.2 million of equity in CTSN.
(d) Capitalization at 12/31/03 Bank Loans Long Term Debt (Partners Loans) $ 0.00 Shareholder's Equity $ 0.00 Total Capitalization $ 0.00 Net Income (Loss) for the period ended 12/31/03 $ 0.00
As stated in Claimant's Form U-3A-2 filed February 29, 1996, due to the nominal interest (.016%) of CTSN indirectly owned by CMS Generation Co., capitalization and earnings information of CTSN continues to be unavailable. (e) N/A 3. CMS DISTRIBUTED POWER, L.L.C. (a) CMS Distributed Power, L.L.C. ("CDP") One Energy Plaza Jackson, Michigan 49201 CDP, a Michigan limited liability company, owns a 3.0 MW generator facility located in Zilwaukee, Michigan. (b) CMS Enterprises Company owns 100% of CDP. (c) As of December 31, 2003 CMS Enterprises Company has invested approximately $7.7 million of capital in CDP.
(d) Capitalization at 12/31/03 Bank Loans (000s) Long Term Debt (Partners Loans) $ 0 Shareholder's Equity $ 3,153 Total Capitalization $ 3,153 Net Income (Loss) for the period ended 12/31/03 $ (270)
(e) During the year 2003, CDP had no power purchase agreements. 4. CMS ENSENADA S.A. ("ENSENADA") (a) CMS Ensenada S.A. Edificio Torre Catalinas Plaza Ing. Butty 220 8th Floor (1101) Buenos Aires, Argentina Ensenada, an Argentine company, is the owner of a 128 MW natural gas-fired power plant, located on the grounds of YPF S.A.'s La Plata oil refinery, located in the province of Buenos Aires, Argentina. (b) CMS Operating S.A. owns 99% and CMS Generation Holdings Company owns 1% of CMS Ensenada S.A. See Exhibit B. (c) As of December 31, 2003, CMS Operating S.A. had invested approximately $42.54 million of equity in Ensenada. (d)
Capitalization at 12/31/03 (000) Shareholder's Equity $ 38,739 CTA $ (54,230) Irrevocable Contribution $ 391 OPIC Loan (LT)s $ - Retained Earnings $ (5,197) Total Capitalization $ (20,297) Net Income (Loss) for the period $ 8,603 ended 12/31/03
(e) As of December 31, 2003, CMS Ensenada S.A. maintains a 7-year Operating and Maintenance Agreement with CMS Operating S.A. to operate and maintain the La Plata cogeneration plant. This agreement took effect in 1997. In 2003, total fees earned were $193,856. 5. CMS (INDIA) OPERATIONS & MAINTENANCE COMPANY PRIVATE LIMITED ("CMS (INDIA)") (a) CMS (India) Operations & Maintenance Company Private Limited F-40 N.D.S.E. Part 1 New Delhi -- 110 149 India (b) CMS (India), an Indian company, is the operator of a 250MW lignite-fired power station located in Neyveli, Tamil Nadu, India. The plant is a 50%-50% joint venture between CMS Generation Neyveli Ltd and ABB Power Investment (India) B.V. The plant achieved commercial operation on December 15, 2002. (c) CMS International Operating Company owns 99% and CMS Generation Investment Company VII owns 1% of CMS (India). As of December 31, 2003, CMS International Operating Company has invested approximately $55,000 of equity in CMS (India). (d) Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 58 Net Income (Loss) for the period ended 12/31/03 $ (443)
(e) As of December 31, 2003 CMS (India) O & M Private Ltd has an operating maintenance agreement with ST-CMS, effective November 15, 1999. In 2003, $1,112,848 was earned as fees. 6. CMS GENERATION MICHIGAN POWER LLC (a) CMS Generation Michigan Power LLC One Energy Plaza Jackson, Michigan 49201 CMS Generation Michigan Power LLC, a Michigan limited liability company, owns a 68 MW natural gas-fired peaking facility located in Comstock, Michigan and a 132 MW natural gas-fired peaking facility located in Gaylord, Michigan. (b) CMS Generation Co. owns 100% of CMS Generation Michigan Power LLC. See Exhibit B. (c) As of December 31, 2003, CMS Generation Co. had invested approximately $7 million of equity in CMS Generation Michigan Power LLC.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 7,192 Net Income (Loss) for the period ended 12/31/03 $ (1,547)
(e) As of December 31, 2003, CMS Generation Michigan Power LLC had an Operating and Maintenance Agreement with CMS Generation Co. In 2003, no fees were earned from the agreement. 7. CMS GENERATION OPERATING COMPANY (a) CMS Generation Operating Company One Energy Plaza Jackson, Michigan 49201 CMS Generation Operating Company, a Michigan corporation, is the operator of a 68 MW natural gas-fired peaking facility located in Comstock, Michigan and a 132 MW natural gas-fired peaking facility located in Gaylord, Michigan. (b) CMS Generation Co. owns 100% of CMS Generation Operating Company. See Exhibit B. (c) As of December 31, 2003, CMS Generation Co. had invested approximately $3.2 million in CMS Generation Operating Company.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 3,208 Net Income (Loss) for the period ended 12/31/03 $ 263
(e) N/A 8. CMS INTERNATIONAL OPERATING COMPANY (a) CMS International Operating Company c/o Maples and Calder Ugland House P.O. Box 309, South Church Street George Town, Cayman Islands, British West Indies CMS International Operating Company, a Cayman Islands company, is the operator of a 220 MW combined cycle thermal power plant under construction located at the Takoradi Power Plant Complex near Takoradi at Aboadze in the Western Region of the Republic of Ghana. (b) CMS Generation Co. owns 100% of CMS International Operating Company. See Exhibit B. (c) As of December 31, 2003, CMS Generation Co. had invested approximately $11.4 million in CMS International Operating Company.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 25,390 Cumulative Translation Adjustment $ 281 Net Income (Loss) for the period ended 12/31/03 $ 5,429
(e) NA 9. CMS MOROCCO OPERATING CO., SCA ("CMS MOROCCO") (a) CMS Morocco Operating Co., SCA BP 99 Sidi Bouzid El Jadida Morocco CMS Morocco, a Moroccan company, operates two 330 MW electric generating plants and two additional 348 MW electric generating plants at the port of Jorf Lasfar on the Atlantic coast of Morocco. (b) Jorf Lasfar Aktiebolag, CMS Generation Investment Company I, CMS International Operating Company, and CMS Generation Jorf Lasfar III Limited Duration Company own 99.7%, 0.1%, 0.1%, and 0.1%, respectively, of CMS Morocco. See Exhibit B. (c) As of December 31, 2003, Jorf Lasfar Aktiebolag, CMS Generation Investment Company I, CMS International Operating Company, and CMS Generation Jorf Lasfar III Limited Duration Company, had invested approximately $11.4 million of equity in CMS Morocco.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 25,390 Net Income (Loss) for the period ended 12/31/03 $ 5,429
(e) N/A 10. DEARBORN GENERATION OPERATING, L.L.C. ("DEARBORN GENERATION OPERATING") (a) Dearborn Generation Operating, L.L.C. One Energy Plaza Jackson, Michigan 49201 Dearborn Generation Operating, a Michigan limited liability company, is the operator of a 155 MW natural gas-fired facility and an approximately 550 MW natural gas-fired facility under construction located in Dearborn, Michigan. (b) CMS Generation Co. owns 100% of Dearborn Generation Operating. See Exhibit B. (c) As of December 31, 2003, CMS Generation Co. had invested $3.5 million in Dearborn Generation Operating.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 4,539 Net Income (Loss) for the period ended 12/31/03 $ 246
(e) As of December 31, 2003, Dearborn Generation Operating had an operating and maintenance agreement with Dearborn Industrial Generation. In 2003 the total operating and management fees were $605,552. 11. DEARBORN INDUSTRIAL GENERATION, L.L.C. ("DEARBORN INDUSTRIAL GENERATION") (a) Dearborn Industrial Generation, L.L.C. One Energy Plaza Jackson, Michigan 49201 Dearborn Industrial Generation, a Michigan limited liability company, is the owner of a 155 MW natural gas-fired facility and an approximately 550 MW natural gas-fired facility under construction located in Dearborn, Michigan. (b) Dearborn Industrial Energy, L.L.C. owns 100% of Dearborn Industrial Generation. See Exhibit B. (c) As of December 31, 2003, CMS Generation Co. had invested $562 million in Dearborn Industrial Generation.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 19,335 Net Income (Loss) for the period ended 12/31/03 $ 7,535
(e) N/A 12. EXETER ENERGY LIMITED PARTNERSHIP (a) Exeter Energy Limited Partnership One Energy Plaza Jackson, Michigan 49201 Exeter Energy Limited Partnership, a Connecticut limited partnership, owns a 26 MW waste tire-fired facility located in Sterling, Connecticut. (b) CMS Generation Co., Exeter Management Company and Oxford/CMS Development L.P. own 50%, 2% and 48%, respectively, of Exeter Energy Limited Partnership. See Exhibit B. (c) As of December 31, 2003, CMS Generation Co. has invested approximately $17 Million of equity in Exeter Energy Limited Partnership.
(d) Capitalization at 12/31/03 (000s) Partners' Capital $ 17,023 Net Income (Loss) for the period ended 12/31/03 $ (1,323)
(e) As of December 31, 2003, Exeter Energy Limited Partnership had an Operating and Maintenance Agreement with CMS Generation Co. In 2003, no fees were earned from the agreement. 13. GVK INDUSTRIES LIMITED ("GVK") (a) GVK Industries Limited Road No. 1 Banjara Hills, Hyderabad India GVK, an Indian company, is owner of a 235 MW electric generating plant located in Jegurupadu, Andra Pradesh, India. (b) Jegurupadu CMS Generation Company Limited, owns 23.75% of GVK. See Exhibit B. (c) As of December 31, 2003, Jegurupadu CMS Generation Company Limited had invested $33.6 million of equity in GVK, directly and indirectly through Classic Investment I and Classic Investment II.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 97,118 LT Liabilities $ 58,468 Net Income (Loss) for the period ended 12/31/03 $ 8,698
(e) As of December 31, 2003, GVK had a restated 10-year Operation and Maintenance Agreement with Jegurupadu Operating, which became effective on the commercial operation date of the steam turbine unit. In 2003, total fees earned from the agreement were $304,361. 14. HIDROELECTRICA EL CHOCON, S.A. ("HIDROELECTRICA") (a) Hidroelectrica El Chocon, S.A. Avenida Espana 3301 Capital Federal, Argentina Hidroelectrica, an Argentine company, holds a thirty-year concession to operate two hydroelectric power plants located 26 kilometers apart on the Limay River in Western Argentina. These plants have a total generating capacity of 1,320 MW. (b) CMS Generation, S.R.L. owns 2.48% of Hidroelectrica. CMS Generation, S.R.L. also owns 25% of Hidroinvest, S.A., which owns 59% of Hidroelectrica. CMS Generation Holdings Company owns 2.48% of Hidroelectrica. See Exhibit B. (c) As of December 31, 2003, CMS Generation, S.R.L. has invested approximately $11.6 million of equity in Hidroelectrica El Chocon. CMS Generation, S.R.L.'s net investment in Hidroelectrica El Chocon, S.A. was written down to $0 due to the economic conditions in Argentina, which resulted in a negative Currency Translation Adjustment. (d) Capitalization at 12/31/03
Bank Loans $ 107 Shareholder's Equity $ 11,623 Cumulative Translation Adjustment $ 11,733 Total Capitalization $ 22,355 Net Income (Loss) for the period ended 12/31/03 $ (4)
(e) N/A 15. JAMAICA PRIVATE POWER COMPANY LIMITED ("JAMAICA PRIVATE POWER") (a) Jamaica Private Power Company Limited 100 Windward Road, Kingston 2, Jamaica, W.I. Jamaica Private Power, a Jamaican company, is the owner of a 65 MW electric generating facility in Rockfort, Kingston, Jamaica. (b) HCE-Rockfort Diesel, Inc. owns 45.07% of Jamaica Private Power. See Exhibit B. (c) As of December 31, 2003 HCE-Rockfort Diesel, Inc. had invested approximately $34.3 million in Jamaica Private Power. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 69,230 Long-Term Debt $ 52,312 Net Income (Loss) for the period ended 12/31/03 $ 12,702
(e) As of December 31, 2003, Jamaica Private Power had an operating agreement with Private Power. In 2003, total fees earned from the agreement were $154,348. 16. JEGURUPADU OPERATING AND MAINTENANCE COMPANY ("JEGURUPADU OPERATING") (a) Jegurupadu Operating and Maintenance Company F-40, N.D.S.E., Part I New Delhi 110 149 India Jegurupadu Operating, a Mauritius company, is the operator of a 235 MW electric generating plant located in Jegurupadu, Andra Pradesh, India. The plant is owned by GVK Industries Limited. (b) Jegurupadu O&M Company Mauritius, owns 60% of Jegurupadu Operating. See Exhibit B. (c) As of December 31, 2003, Jegurupadu O&M Company Mauritius had invested approximately $3.2 million of equity in Jegurupadu Operating. (d)
Capitalization at 12/31/03 (000s) Shareholders' Equity $ 902 Net Income (Loss) for the period ended 12/31/03 $ 770
(e) As of December 31, 2003, GVK Industries Limited had a restated 10-year Operation and Maintenance Agreement with Jegurupadu Operating, which became effective on the commercial operation date of the steam turbine unit. In 2003, total fees earned from the agreement were $304,361. 17. JORF LASFAR ENERGY COMPANY SCA ("JORF LASFAR") (a) Jorf Lasfar Energy Company SCA BP 99 Sidi Bouzid El Jadida Morocco Jorf Lasfar, a Moroccan company, operates through a subcontractor, CMS Morocco Operating Co., S.C.A., four 330 MW electric generating plants located at the port of Jorf Lasfar on the Atlantic coast of Morroco. (b) Jorf Lasfar Energiaktiebolag, Jorf Lasfar Power Energy Aktiebolag, and Jorf Lasfar Handelsbolag own 25%, 23% and 2%, respectively, of Jorf Lasfar. See Exhibit B. (c) As of December 31, 2003, CMS Generation Investment Company IV had invested approximately $256 million of equity in Jorf Lasfar. (d)
Capitalization at 11/30/03 (000s) Shareholder's Equity $ 512,862 Long Term Loans $ 579,478 Net Income (Loss) for the period ended 11/30/03 $ 119,850
(e) As of December 31, 2003, Jorf Lasfar had an Operating and Maintenance Agreement with CMS Morocco, which became effective September 4, 1997. In 2003, total fees earned under the agreement were $2,878,622. 18. JUBAIL ENERGY COMPANY (a) Jubail Energy Company Gate #9, SADAF Complex CGP P.O. Box 11515 Jubail Industrial City 31961 Kingdom Saudi Arabia Jubail Energy Company is a Saudi company that owns and operates a 250 MW cogeneration facility selling steam and electricity to the SADAF Petrochemical Facility in the Jubail Industrial City. (b) CMS Jubail Investment Company I owns a 25% equity interest in Jubail Energy Company. (c) CMS Jubail Investment Company I has invested $11.3 million in Jubail Energy Company. (d) The cogeneration facility is currently under construction and there were no earnings recognized in the most recent reporting period. (e) Jubail Energy Company has an On Shore and an Off Shore Technical Services Agreement (TSA) with CMS Generation Co. The TSA is an agreement that requires CMS Generation Co. to provide certain operating and construction personnel and service to Jubail Energy Company and provides for compensation for these services. 19. PRIVATE POWER OPERATORS LIMITED ("PRIVATE POWER") (a) Private Power Operators Limited 100 Windward Road Kingston 2, Jamaica, W.I. Private Power, a Jamaican company, is the operator of a 65 MW electric generating facility in Rockfort, Kingston, Jamaica. (b) HCO-Jamaica, Inc. owns 99% and HCE - Rockfort Diesel, Inc. owns 1% of Private Power. See Exhibit B. (c) As of December 31, 2003, HCO-Jamaica, Inc. invested approximately $10,000 of equity in Private Power. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 10 Net Income (Loss) for the period ended 12/31/03 $ 0
(e) N/A. 20. SHUWEIHAT CMS INTERNATIONAL POWER COMPANY (a) Shuweihat CMS International Power Company P.O. Box 52645 Al Ghaith Tower, 8th Floor Hamden Street Abu Dhabi, United Arab Emirates Shuweihat CMS International Power Company, a U.A.E. Abu Dhabi Emirate company, owns a generation and desalination facility in Taweelah, Abu Dhabi. (b) CMS Generation Investment Company VII owns 50% OF Shuweihat General Partner Company and 49.5% of Shuweihat Limited Partnership. Sheweihat General Partner Company owns 1% of Shuweihat Limited Partnership. Shuweihat Limited Partnership owns 40% of Shuweihat CMS International Power Company. (c) As of December 31, 2003, CMS Generation Investment Company VII had invested $150,000 of equity in Shuweihat CMS International Power Company.
(d) Capitalization at 12/31/03 (000s) Long Term Debt $ 1,300 Shareholder's Equity $ (134)
(e) As of December 31, 2003, Shuweihat CMS International Power Company had a Management Support Agreement with Shuweihat Limited Partnership dated June 4, 2002. As of December 31, 2003, Shuweihat O&M Limited Partnership had an Operations and Maintenance Agreement with Shuweihat CMS International Power Company dated November 28, 2001. 21. SHUWEIHAT O&M LIMITED PARTNERSHIP (a) Shuweihat O&M Limited Partnership Suite 302, Old GASCo Building Al Kubeirah Street Corniche West Abu Dhabi, United Arab Emirates Shuweihat O&M Limited Partnership, a Cayman Islands limited partnership, will be the operator of a generation and desalination facility in Shuweihat, Abu Dhabi. (b) CMS Generation Investment Company VII owns 49.5% of Shuweihat O & M Limited Partnership. CMS Generation Investment Company VII also owns 50% of Shuweihat O & M General Partner Company, which owns 1% of Shuweihat O & M Limited Partnership. (c) As of December 31, 2003, CMS Generation Investment Company VII had invested no equity in Shuweihat O&M Limited Partnership.
(d) Capitalization at 12/31/03 (000's) Long Term Debt $ 000 Partners' Capital $ 1,218
(e) As of December 31, 2003, Shuweihat O&M Limited Partnership had an Operations and Maintenance Agreement with Shuweihat CMS International Power Company dated November 28, 2001. 22. ST-CMS ELECTRIC COMPANY PVT. LTD. ("ST-CMS") (a) ST-CMS Electric Company Pvt. Ltd. F-40 N.D.S.E. Part - I New Delhi -- 110 149 India (b) ST-CMS is a 250 MW lignite-fired power station located in Neyveli, Tamil Nadu, India. The project is a 50%-50% joint venture between CMS Generation Neyveli Ltd. and ABB Power Investment (India) B.V. The plant achieved commercial operation on December 15, 2002. (c) As of December 31, 2003, CMS Generation Neyveli Limited had invested approximately $47 million of equity in ST-CMS. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 108,786 Long-Term Loans $ 238,178 Net Income (Loss) for the period ended 12/31/03 $ 11,013
(e) As of December 31, 2003 CMS (India) O & M Private Limited had an operating & maintenance agreement with ST-CMS, effective November 15, 1999. In 2002, $1,112,848 was earned in fees. 23. TAKORADI INTERNATIONAL COMPANY (a) Takoradi International Company c/o Maples and Calder Ugland House P.O. Box 309, South Church Street George Town, Cayman Islands, British West Indies Takoradi International Company, a Cayman Island company, is the 90% owner of a 220 MW combined cycle thermal power plant located at the Takoradi Power Plant Complex near Takoradi at Aboadze in the Western Region of the Republic of Ghana. (b) CMS Takoradi Investment Company II owns 90% of Takoradi International Company. See Exhibit B. (c) As of December 31, 2003, CMS Generation Investment Company VI had invested approximately $113 million in Takoradi International Company.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 108,330 Net Income (Loss) for the period ended 12/31/03 $ 13,449
(e) As of December 31, 2003, there were two operating and management fee agreements, one between CMS Generation Co. and Takoradi International Company and the other between CMS Generation Co. and Volta River Authority. In 2003, total operating and management fees earned were $870,647. FOREIGN UTILITY COMPANIES 1. CMS GENERATION HORIZON ENERGY HOLDINGS LIMITED (a) CMS Generation Horizon Energy Holdings Limited P.O. Box 309 Ugland House, South Church Street Grand Cayman, Cayman Islands, British West Indies CMS Generation Horizon Energy Holdings Limited, a Cayman Islands company, is part-owner and operator of a 2,000 MW power station, an associated lignite mine located at Loy Yang, Victoria, Australia. (b) CMS Generation Loy Yang Holdings 2 Ltd., a wholly owned subsidiary of CMS Generation Investment Company I, owns 100% of CMS Generation Horizon Energy Holdings Limited. See Exhibit B. (c) As of December 31, 2003, CMS Generation Investment Company I had advanced approximately $150 million to CMS Generation Horizon Energy Holdings Limited. (d)
Capitalization at 12/31/03 (000s) Shareholders Equity 154,718 Long-Term Loans $ 1,882,976 Net Income (Loss) for the period ended 12/31/03 $ (156,438)
(e) As of December 31, 2003, CMS Generation Horizon Energy Holdings Limited was entitled to an Industry Expertise Fee pursuant to the partnership agreement of Loy Yang Power Partners. In 2003, no fees were paid from the agreement. 2. CMS OPERATING S.R.L. (a) CMS Operating S.R.L. Edificio torre Catalinas Plaza Ing. Butty 220, 8th Floor Buenos Aires, Argentina CMS Operating S.R.L., an Argentine company, has ownership interest of 100% in and is the operator of Ensenada, an EWG. As of December 31, 2003, Centrales Termicas Mendoza S.A., located in Mendoza Argentina, has an operation and maintenance contract, and a consulting contract with CMS Operating S.R.L. Refer to EWG section item 1, part (e). (b) CMS International Ventures, L.L.C. owns 99.999% of CMS Operating S.R.L. (c) As of December 31, 2003, CMS International Ventures, L.L.C. had invested approximately $225 million of equity in CMS Operating S.R.L. (d)
Capitalization at 12/31/03 (000s) Common Stock $ 35,785 Irrevocable Contributions $ 203,361 Retained Earnings $ (2,067) CTA $(173,076) Total $ (64,003) Net Income (Loss) for the period ended 12/31/03 $ 3,720
(e) N/A 3. COMPANHIA JAGUARI DE ENERGIA S.A.("JAGUARI") (a) Companhia Jaguari de Energia S.A. Vigato 1.620, Street Jaguariuna -- SP -- Brazil Zip Code 13820-000 Jaguari, a Brazilian company, owns and operates an electricity distribution concession located in the state of Sao Paulo. Jaguari is a non-traded utility company controlled by CPEE. Jaguari serves approximately 25,000 customers. (b) Jaguari is 100% owned by Sul Paulista. See CPEE below and Exhibit B. (c) As of December 31, 2003, Sul Paulista has invested $31 million in Jaguari. (d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 31,179 Net Income (Loss) for the period ended 12/31/03 $ 5,980
(e) N/A 4. COMPANHIA LUZ E FORCA DE MOCOCA ("MOCOCA") (a) Companhia Luz e Forca de Mococa Vigato 1.620, Street -- 1st Floor -- Room 3 Jaguariuna -- SP- Brazil Zip Code 13820-000 Mococa, a Brazilian company, owns and operates an electricity distribution concession located in the state of Sao Paulo and the State of Minas Gerais, Brazil. Mococa is a non-traded utility company controlled by CPEE. Mococa serves approximately 34,000 customers. (b) Mococa is 100% owned by Jaguari . See CPEE below and Exhibit B. (c) As of December 31, 2003, Jaguari has invested $8.6 million in Mococa. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 8,573 Net Income (Loss) for the period ended 12/31/03 $ 1,056
(e) N/A 5. COMPANHIA PAULISTA DE ENERGIA ELECTRICA ("CPEE") (a) Companhia Paulista de Energia Electrica Vigato 1.620, Street -- 1st Floor -- room 1 Jaguariuna -- SP --Brazil Zip Code 13820-000 CPEE, a Brazilian company, owns and operates an electricity distribution concession in the state of Sao Paulo, Brazil and also has a controlling interest in 3 other non-traded utility companies which own and operate electricity distribution concessions located in the state of Sao Paulo and in the state of Minas Gerais. CPEE and its controlled companies serve approximately 160,000 customers. CPEE also owns a 7 percent interest in Investco S.A., which owns an 850 MW hydroelectric plant, which started commercial operations in December 2001. (b) CMS Participacoes Ltda. owns 93.86% of CPEE. See Exhibit B. (c) As of December 31, 2003, CMS Participacoes Ltda. has invested $90 million in CPEE. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 55,082 Net Income (Loss) for the period ended 12/31/03 $ 9,900
(e) N/A 6. COMPANHIA SUL PAULISTA DE ENERGIA ELECTRICA ("SUL PAULISTA") (a) Companhia Sul Paulista de Energia Vigato 1.620, Street -- 1st Floor -- Room 2 Jaguariuna -- SP - Brazil Zip Code 13820-000 Sul Paulista, a Brazilian company, owns and operates an electricity distribution concession located in the state of Sao Paulo. Sul Paulista is a non-traded utility company controlled by CPEE. Sul Paulista serves approximately 58,000 customers. (b) Sul Paulista is 88.63% owned by CPEE. See CPEE above and Exhibit B. (c) As of December 31, 2003, CPEE has invested $47 million in Sul Paulista. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 53,567 Net Income (Loss) for the period ended 12/31/03 $ 10,190
(e) N/A 7. EMIRATES CMS POWER COMPANY (a) Emirates CMS Power Company P.O. Box 47688 United Arab Emirates Al Mansoor Tower, 7th Floor, Suite 701 Abu Dhabi Emirates CMS Power Company, a U.A.E. Abu Dhabi Emirate company, owns a generation and desalination facility in Taweelah, Abu Dhabi. (b) CMS Generation Taweelah Limited owns 40% of Emirates CMS Power Company. (c) As of December 31, 2003, CMS Generation Taweelah Limited had invested $74 million in equity of Emirates CMS Power Company. (d)
Capitalization at 11/30/03 (000s) Term Loan $ 509,727 Shareholder Loan $ 70,845 Retained Earnings $ 33,896 MTW $ (66,104)
Shareholder's Equity $ 112,588 Total Capitalization $ 660,952 Net Income (Loss) for the period ended 11/30/03 $ 27,472
(e) N/A 8. HORIZON ENERGY HOLDINGS LTD. ("HORIZON ENERGY") (a) Horizon Energy Holdings Ltd. P.O. Box 309 Ugland House, South Church Street Grand Cayman, Cayman Islands, British West Indies Horizon Energy, a Cayman Islands company, is part-owner and operator of a 2,000 MW power station and associated lignite mine located at Loy Yang, Victoria, Australia. (b) CMS Generation Loy Yang Holdings 1 Ltd., a wholly owned subsidiary of CMS Generation Investment Company I, owns 100% of Horizon Energy. See Exhibit B. (c) As of December 31, 2003, CMS Generation Investment Company I had advanced approximately $149 million in Horizon Energy. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 154,718 Long-Term Loans $ 1,882,976 Net Income (Loss) for the period ended 12/31/03 $ (156,438)
(e) N/A. 9. LOY YANG POWER PARTNERS (a) Loy Yang Power Partners Bartons Line Taralgon, Victoria, Australia 3844 Loy Yang Power Partners is the operator of a 2,000 MW power station and associated lignite mine located at Loy Yang, Victoria, Australia. (b) CMS Generation Horizon Energy Holdings Ltd. owns 25% and Horizon Energy Holdings Ltd. owns 24.63% of Loy Yang Power Partners. See Exhibit B. (c) As of December 31, 2003, CMS Generation Horizon Energy Holdings Ltd. had invested approximately $242 million of equity and Horizon Energy Holdings Ltd. had invested approximately $238 million of equity in Loy Yang Power Partnership. (d)
Capitalization at 12/31/03 (000s) Shareholder's Equity $ 154,718 Long-Term Loans $ 1,882,976 Net Income (Loss) for the period ended 12/31/03 $ (156,438)
(e) As of December 31, 2003, CMS Generation Horizon Energy Holdings Limited was entitled to an Industry Expertise Fee pursuant to the partnership agreement of Loy Yang Power Partners. In 2003, no fees were paid from the agreement. 10. SISTEMA ELECTRICO DEL ESTADO NUEVA ESPARTA C.A. ("SENECA") (a) Sistema Electrico del Estado Nueva Esparta C.A. San Lorenzo Pampatar, Nueva Esparta (6312) Venezuela SENECA, a Venezuelan company, is the owner of 200 MW of diesel-fired power generation units located on Margarita Island, Venezuela. SENECA also owns and operates an electric distribution system located on Margarita Island, Venezuela, serving approximately 104,000 customers. (b) CMS Electric & Gas, L.L.C. owns 100% of ENELMAR. ENELMAR owns 29.50% of SENECA. CMS Electric & Gas L.L.C. owns 100% of CMS Venezuela. CMS Venezuela owns 57.86% of SENECA. See Exhibit B. (c) As of December 31, 2003, ENELMAR had invested $3.9 million in SENECA. As of December 31, 2003, CMS Venezuela had invested $13.8 million in SENECA.
(d) Capitalization at 12/31/03 (000s) Shareholder's Equity $ 160,285 Net Income (Loss) for the period ended 12/31/03 $ (5,632)
(e) N/A 11. TAWEELAH A2 OPERATING COMPANY ("TAWEELAH") (a) Taweelah A2 Operating Company c/o CMS Generation Co. One Energy Plaza Jackson, Michigan 49201 Taweelah operates a 710.3 MW generation and desalination facility in Taweelah, Abu Dhabi. (b) CMS Generation Co. owns 100% of Taweelah (c) As of December 31, 2003, CMS Generation Co. had invested approximately $2.37 million of equity in Taweelah. (d)
Capitalization at 12/31/03 (000s) Shareholder's Capital $ 1,565 Retained Earnings $ 801 Shareholder's Equity $ 2,366 Net Income (Loss) for the period ended 12/31/03 $ 1,160
(e) As of December 31, 2003, there was an operating and management agreement between Taweelah and Emirates CMS Power Company pursuant to which total fees earned were $1,159,973. The above-named Claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 31st day of March 2004. CMS ENERGY CORPORATION A Michigan corporation [CORPORATE SEAL] By: /s/ Thomas J. Webb ------------------------- Thomas J. Webb Executive Vice President and Chief Financial Officer ATTEST: /s/ Wendy A. Edelson ------------------------------ Wendy A. Edelson Corporate Counsel Name, title, and address of officer to whom notices and correspondence concerning this Statement should be addressed: S. Kinnie Smith, Jr. Vice Chairman of the Board and General Counsel One Energy Plaza Jackson, Michigan 49201 March 31, 2004 EXHIBIT A A consolidating statement of income and surplus of CMS Energy and its subsidiary companies for the last calendar year, together with a consolidating balance sheet of CMS Energy and its subsidiary companies as of the close of such calendar year is attached. CMS ENERGY CORPORATION Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions, except Per Share Amounts)
Consumers CMS Inter- CMS Energy Enterprises company Energy CMS Energy Company Company Elimina- Corporation Corp. (1) Consol. Consol. tions Consol. Operating Revenue $ 1 $ 4,435 $ 1,193 $ (116) $ 5,513 ------------------------------------------------------------ Earnings from Equity Method Investees - 42 122 - 164 ------------------------------------------------------------ Operating Expenses Fuel for electric generation - 320 10 (74) 256 Purchased and interchange power - 310 309 70 689 Purchased power-related parties - 519 6 (70) 455 Cost of gas sold - 1,249 577 (35) 1,791 Other operation expenses 6 739 204 2 951 Maintenance - 199 27 - 226 Depreciation and amortization 1 377 50 - 428 General taxes (42) 181 52 - 191 Asset impairment charges - - 95 - 95 ------------------------------------------------------------ Total operating expenses (35) 3,894 1,330 (107) 5,082 ------------------------------------------------------------ Operating Income (Loss) 36 583 (15) (9) 595 ------------------------------------------------------------ Other Income (Deductions) Dividends and interest from affiliates (9) 2 46 (33) 6 Interest and dividends 4 8 16 - 28 Accretion expense - (7) (22) - (29) Gain (loss) on asset sales, net - 2 (5) - (3) Other, net 212 (10) 8 (198) 12 ------------------------------------------------------------ Total other income (deductions) 207 (5) 43 (231) 14 ------------------------------------------------------------ Fixed Charges Interest on long-term debt 258 196 19 - 473 Interest on long-term debt-related parties 13 45 - - 58 Other interest 57 13 22 (33) 59 Capitalized interest - (9) - - (9) Preferred dividends 1 2 - - 3 Preferred securities distributions 10 - - - 10 ------------------------------------------------------------ Net fixed charges 339 247 41 (33) 594 ------------------------------------------------------------ Income (Loss) from Continuing Operations before Income Taxes and Minority Interests (96) 331 (13) (207) 15 Income Tax Expense (Benefit) (72) 137 (4) (3) 58 Minority Interests - - - - - ------------------------------------------------------------ Income (Loss) from Continuing Operations (24) 194 (9) (204) (43) Discontinued Operations (14) - 37 - 23 Cumulative Effect of Accounting Change - - (24) - (24) ------------------------------------------------------------ Net Income (Loss) before Common Stock Dividends (38) 194 4 (204) (44) Dividends on Common Stock - 218 133 (351) - ------------------------------------------------------------ Net Income (Loss) after Common Stock Dividends $ (38) $ (24) $ (129) $ 147 $ (44) ============================================================ Average Number of CMS Energy Common Shares Outstanding 150,434 Basic Earnings per CMS Energy Average Common Share $ (0.30) Diluted Earnings per CMS Energy Average Common Share $ (0.30)
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS Enterprises Company included on the equity method of accounting. CONSUMERS ENERGY COMPANY Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
Consumers Consumers CMS Inter- Consumers Consumers Receivables Consumers Campus Midland CMS company Energy Energy Funding (I & II) Funding Holdings Holdings Midland Elimina- Company Company (2) LLC LLC LLC Company Inc. tions Consol. Operating Revenue $ 4,438 $ 4 $ 1 $ 2 $ - $ - $ (10) $ 4,435 Earnings from Equity Method Investees - - - - 13 29 - 42 ---------------------------------------------------------------------------------- Operating Expenses Fuel for electric generation 320 - - - - - - 320 Purchased power-related parties 519 - - - - - - 519 Purchased and interchange power 310 - - - - - - 310 Cost of gas sold 1,221 - - - - - - 1,221 Cost of gas sold-related parties 28 - - - - - - 28 Other operation expense 738 4 1 2 - - (6) 739 Maintenance 199 - - - - - - 199 Depreciation and amortization 376 - - - - 1 - 377 General taxes 181 - - - - - - 181 ---------------------------------------------------------------------------------- Total operating expenses 3,892 4 1 2 - 1 (6) 3,894 ---------------------------------------------------------------------------------- Operating Income 546 - - - 13 28 (4) 583 ---------------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates 2 - 22 - - - (22) 2 Accretion expense (7) - - - - - - (7) Other, net 20 - - - - - (20) - ---------------------------------------------------------------------------------- Total other income (deductions) 15 - 22 - - - (42) (5) ---------------------------------------------------------------------------------- Interest Charges Interest on long-term debt 174 - 22 - - - - 196 Interest on long-term debt-related parties 45 - - - - - - 45 Other interest 39 - - - - - (26) 13 Capitalized interest (9) - - - - - - (9) ---------------------------------------------------------------------------------- Net interest charges 249 - 22 - - - (26) 245 ---------------------------------------------------------------------------------- Income before Income Taxes 312 - - - 13 28 (20) 333 Income Taxes 116 - - - 11 10 - 137 ---------------------------------------------------------------------------------- Income before Accounting Change 196 - - - 2 18 (20) 196 Cumulative Effect of Accounting Change - - - - - - - - ---------------------------------------------------------------------------------- Net Income 196 - - - 2 18 (20) 196 Preferred Stock Dividends 2 - - - - - - 2 Preferred Securities Distribution - - - - - - - - ---------------------------------------------------------------------------------- Net Income Available to Common Stockholder 194 - - - 2 18 (20) 194 Dividends on Common Stock 218 - - - - - - 218 ---------------------------------------------------------------------------------- Net Income (Loss) after Common Dividends $ (24) $ - $ - $ - $ 2 $ 18 $ (20) $ (24) ==================================================================================
(2) Represents Consumers Energy Company, CMS Engineering Company, ES Services Company, Consumers Nuclear Services LLC, Consumers Parnell Holdings LLC and Consumers EnergyGuard Services, Inc. consolidated with Consumers Receivables Funding LLC, Consumers Receivables Funding II LLC, Consumers Funding LLC, Consumers Campus Holdings LLC, CMS Midland Holdings Company and CMS Midland, Inc. included on the equity method of accounting. CMS ENTERPRISES COMPANY Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
CMS CMS Gas CMS CMS CMS Generation Transmission Energy Int'l CMS CMS Enterprises Co. Company Resource Mgt. Vent. LLC Capital Land Company (3) Consol. Consol. Company Consol. LLC Company Operating Revenue $ 19 $ 271 $ 25 $ 882 $190 $ 6 $ - ---------------------------------------------------------------------------------------- Earnings from Equity Method Investees - 95 - 1 26 - $ - ---------------------------------------------------------------------------------------- Operating Expenses Fuel for electric generation (1) 69 - - 21 - - Purchased and interchange power - - - 179 51 - - Purchased power-related parties - 35 - 71 - - - Cost of gas sold - 26 1 591 - - - Other operation expense 16 93 25 39 40 4 - Maintenance - 14 2 - 11 - - Depreciation and amortization 2 13 6 10 18 - - General taxes 2 17 3 4 26 - - Asset impairment charges 7 16 - - 72 - - ---------------------------------------------------------------------------------------- Total operating expenses 26 283 37 894 239 4 - ---------------------------------------------------------------------------------------- Operating Income (Loss) (7) 83 (12) (11) (23) 2 - ---------------------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates 25 2 7 23 3 29 - Interest and dividends 3 2 3 1 4 3 - Accretion expense - - - (22) - - - Gain (loss) on asset sales - - (4) (5) - - 3 Other, net 48 20 21 (7) 2 - - ---------------------------------------------------------------------------------------- Total other income (deductions) 76 24 27 (10) 9 32 3 ---------------------------------------------------------------------------------------- Fixed Charges Interest on long-term debt 13 3 1 - 2 - - Other interest 30 12 1 5 2 13 2 Capitalized interest - - - - - - - ---------------------------------------------------------------------------------------- Net fixed charges 43 15 2 5 4 13 2 ---------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 26 92 13 (26) (18) 21 1 Income Tax Expense (Benefit) (6) 7 8 (6) 13 7 - Minority Interests - 2 - - (3) - - ---------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations 32 83 5 (20) (28) 14 1 Discontinued Operations (10) - (1) (15) 74 - - Cumulative Effect of Accounting Change - - (1) (23) - - - ---------------------------------------------------------------------------------------- Net Income (Loss) $ 22 $ 83 $ 3 $ (58) $ 46 $ 14 $ 1 ========================================================================================
(Continued on Following Page) CMS ENTERPRISES COMPANY Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions) (Continued from Previous Page)
CMS Inter- CMS Technology CMS company Enterprises Companies Texas Elimina- Company (4) LLC tions Consol. Operating Revenue $ - $ - $ (200) $ 1,193 ----------------------------------------------- Earnings from Equity Method Investees - - - 122 ----------------------------------------------- Operating Expenses Fuel for electric generation - - (79) 10 Purchased and interchange power - - 79 309 Purchased power-related parties - - (100) 6 Cost of gas sold - - (41) 577 Other operation expense - 4 (17) 204 Maintenance - - - 27 Depreciation and amortization 1 - - 50 General taxes - - - 52 Asset impairment charges - - - 95 ----------------------------------------------- Total operating expenses 1 4 (158) 1,330 ----------------------------------------------- Operating Income (Loss) (1) (4) (42) (15) ----------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates - - (43) 46 Interest and dividends - - - 16 Accretion expense - - - (22) Gain (loss) on asset sales 1 - - (5) Other, net - - (76) 8 ----------------------------------------------- Total other income (deductions) 1 - (119) 43 ----------------------------------------------- Fixed Charges Interest on long-term debt - - - 19 Other interest - - (43) 22 Capitalized interest - - - - ----------------------------------------------- Net fixed charges - - (43) 41 ----------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests - (4) (118) (13) Income Tax Expense (Benefit) - (1) (26) (4) Minority Interests - - 1 - ----------------------------------------------- Income (Loss) from Continuing Operations - (3) (93) (9) Discontinued Operations - - (11) 37 Cumulative Effect of Accounting Change - - - (24) ----------------------------------------------- Net Income (Loss) $ - $ (3) $ (104) $ 4 ===============================================
(3) Represents CMS Enterprises Company, CMS Resource Development Company, CMS Comercializadora de Energia SA, CMS Enterprises Holding Company SA, CMS Energy South America Company, CMS Energy Asia Private Limited, CMS Business Development LLC and CMS Energy UK Limited consolidated with CMS Generation Co., CMS Gas Transmission Company, CMS Energy Resource Management Company, CMS International Ventures LLC, CMS Capital LLC, CMS Land Company and CMS Texas LLC included on the equity method of accounting. (4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS Enterprises Development LLC. CMS GENERATION CO. Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
TES Genesee Grayling Dearborn Taweelah CMS Filer City Power Generating Industrial Exeter A2 Generation LP LP LP Generation Energy Operating Co. (5) Consol. (6) (7) LLC LP Company Operating Revenue $ 1 $32 $ 16 $17 $101 $ 8 $ 4 -------------------------------------------------------------------------------------- Earnings from Equity Method Investees 2 - - - - - $ - -------------------------------------------------------------------------------------- Operating Expenses Fuel for electric generation - 9 - - 14 - - Purchased power-related parties - - - - 35 - - Cost of gas sold - - - - 26 - - Other operation expense 26 9 8 9 16 7 3 Maintenance - - 2 - 7 - - Depreciation and amortization 2 3 2 2 2 1 - General taxes 1 6 1 1 6 1 - Asset impairment charges 5 - - - - - - -------------------------------------------------------------------------------------- Total operating expenses 34 27 13 12 106 9 3 -------------------------------------------------------------------------------------- Operating Income (Loss) (31) 5 3 5 (5) (1) 1 -------------------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates - - - - - - - Interest and dividends 1 - 1 - - - - Other, net 110 - - (2) (1) - - -------------------------------------------------------------------------------------- Total other income (deductions) 111 - 1 (2) (1) - - -------------------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - - - 3 - - - Other interest 3 3 5 - 1 - - Capitalized interest - - - - - - - -------------------------------------------------------------------------------------- Net fixed charges 3 3 5 3 1 - - -------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 77 2 (1) - (7) (1) 1 Income Tax Expense (Benefit) (6) - - - - - - Minority Interests - 1 - - - - - -------------------------------------------------------------------------------------- Net Income (Loss) $ 83 $ 1 $ (1) $ - $ (7) $ (1) $ 1 ======================================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions) (Continued from Previous Page)
CMSG CMSG CMSG CMSG CMSG CMSG HYDRA-CO Michigan Int'l Investment Investment Investment Honey Enterprises, Power Operating Co. Co. Co. Lake Inc. LLC Co. Consol. IV VI VII Company Consol. Operating Revenue $ 2 $ 8 $ - $ 6 $ - $ - $ 3 ----------------------------------------------------------------------------------- Earnings from Equity Method Investees - - 1 - 11 2 $11 ----------------------------------------------------------------------------------- Operating Expenses Fuel for electric generation 1 - - 4 - - - Purchased power-related parties - - - - - - - Cost of gas sold - - - - - - - Other operation expense 1 2 - 1 - - 3 Maintenance - - - - - - - Depreciation and amortization 1 - - - - - - General taxes 1 - - - - - - Asset impairment charges - - - - - - - ----------------------------------------------------------------------------------- Total operating expenses 4 2 - 5 - - 3 ----------------------------------------------------------------------------------- Operating Income (Loss) (2) 6 1 1 11 2 11 ----------------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates - 1 - - - - - Interest and dividends - - - - - - - Other, net - 1 2 - - - - ----------------------------------------------------------------------------------- Total other income (deductions) - 2 2 - - - - ----------------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - - - - - - - Other interest - - - - - - - Capitalized interest - - - - - - - ----------------------------------------------------------------------------------- Net fixed charges - - - - - - - ----------------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests (2) 8 3 1 11 2 11 Income Tax Expense (Benefit) - 3 - - - 1 4 Minority Interests - - - - - - - ----------------------------------------------------------------------------------- Net Income (Loss) $(2) $ 5 $ 3 $ 1 $11 $ 1 $ 7 ===================================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- CMS CMSG company Generation Investment Elimina- Company Co. I tions Consol. Operating Revenue $ 74 $ (1) $271 ---------------------------------- Earnings from Equity Method Investees 68 - 95 ---------------------------------- Operating Expenses Fuel for electric generation 41 - 69 Purchased power-related parties - - 35 Cost of gas sold - - 26 Other operation expense 9 (1) 93 Maintenance 5 - 14 Depreciation and amortization - - 13 General taxes - - 17 Asset impairment charges 11 - 16 ---------------------------------- Total operating expenses 66 (1) 283 ---------------------------------- Operating Income (Loss) 76 - 83 ---------------------------------- Other Income (Deductions) Dividends and interest from affiliates 4 (3) 2 Interest and dividends - - 2 Other, net 5 (95) 20 ---------------------------------- Total other income (deductions) 9 (98) 24 ---------------------------------- Fixed Charges Interest on long-term debt - - 3 Other interest 3 (3) 12 Capitalized interest - - - ---------------------------------- Net fixed charges 3 (3) 15 ---------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 82 (95) 92 Income Tax Expense (Benefit) 5 - 7 Minority Interests 1 - 2 ---------------------------------- Net Income (Loss) $ 76 $ (95) $ 83 ==================================
(5) Represents CMS Generation Company, CMSG Altoona Company, CMSG Chateaugay Company, CMSG Filer City Operating Company, Exeter Management Company, CMSG Operating Company, CMSG Recycling Company and Dearborn Generation Operating LLC consolidated with CMSG Filer City, Inc., CMS International Operating Company, CMSG Investment Company IV, CMSG Investment Company VI, CMSG Investment Company VII and HYDRA-CO Enterprises, Inc. included on the equity method of accounting. (6) Includes CMSG Genesee Company, CMSG Holdings Company and GPS Newco LLC. (7) Includes CMSG Grayling Company and CMSG Grayling Holdings Company. TES FILER CITY STATION LP Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
TES Inter- TES CMSG Filer City company Filer City Filer City Station Elimina- LP Inc. LP tions Consol. Operating Revenue $ - $ 32 $ - $ 32 ---------------------------------------------- Earnings from Equity Method Investees - - - - ---------------------------------------------- Operating Expenses Fuel for electric generation - 9 - 9 Purchased power-related parties - - - - Cost of gas sold - - - - Other operation expense - 9 - 9 Maintenance - - - - Depreciation and amortization - 3 - 3 General taxes - 6 - 6 Asset impairment charges - - - - ---------------------------------------------- Total operating expenses - 27 - 27 ---------------------------------------------- Operating Income (Loss) - 5 - 5 ---------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates - - - - Interest and dividends - - - - Other, net 1 - (1) - ---------------------------------------------- Total other income (deductions) 1 - (1) - ---------------------------------------------- Fixed Charges Interest on long-term debt - - - - Other interest - 3 - 3 Capitalized interest - - - - ---------------------------------------------- Net fixed charges - 3 - 3 ---------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 1 2 (1) 2 Income Tax Expense (Benefit) - - - - Minority Interests - - 1 1 ---------------------------------------------- Net Income (Loss) $ 1 $ 2 $(2) $ 1 ==============================================
CMS INT'L OPERATING COMPANY Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
CMS CMS CMS CMS Inter- CMS Int'l UK Jorf Morocco India O&M company Int'l Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating Co. (8) Limited Aktiebolag SCA Limited tions Consol. Operating Revenue $(4) $ - $ - $ 8 $ 4 $ - $ 8 -------------------------------------------------------------------------------------- Earnings from Equity Method Investees - - - - - - - -------------------------------------------------------------------------------------- Operating Expenses Fuel for electric generation - - - - - - - Purchased power-related parties - - - - - - - Cost of gas sold - - - - - - - Other operation expense - - - - 2 - 2 Maintenance - - - - - - - Depreciation and amortization - - - - - - - General taxes - - - - - - - Asset impairment charges - - - - - - - -------------------------------------------------------------------------------------- Total operating expenses - - - - 2 - 2 -------------------------------------------------------------------------------------- Operating Income (Loss) (4) - - 8 2 - 6 -------------------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates 1 - - - - - 1 Interest and dividends - - - - - - - Other, net 7 6 5 - - (17) 1 -------------------------------------------------------------------------------------- Total other income (deductions) 8 6 5 - - (17) 2 -------------------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - - - - - - - Other interest - - - - - - - Capitalized interest - - - - - - - -------------------------------------------------------------------------------------- Net fixed charges - - - - - - - -------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 4 6 5 8 2 (17) 8 Income Tax Expense (Benefit) (1) - - 3 1 - 3 Minority Interests - - - - - - - -------------------------------------------------------------------------------------- Net Income (Loss) $ 5 $ 6 $ 5 $ 5 $ 1 $ (17) $ 5 ======================================================================================
(8) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC consolidated. HYDRA-CO ENTERPRISES, INC. Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
CMSG HCE Inter- HYDRA-CO HYDRA-CO Operating Rockport company Enterprises, Enterprises, Company Diesel, Elimina- Inc. Inc. (9) II Inc. tions Consol. Operating Revenue $ - $ 3 $ - $ - $ 3 ------------------------------------------------------------ Earnings from Equity Method Investees 3 - 8 - 11 ------------------------------------------------------------ Operating Expenses Fuel for electric generation - - - - - Purchased power-related parties - - - - - Cost of gas sold - - - - - Other operation expense 1 2 - - 3 Maintenance - - - - - Depreciation and amortization - - - - - General taxes - - - - - Asset impairment charges - - - - - ------------------------------------------------------------ Total operating expenses 1 2 - - 3 ------------------------------------------------------------ Operating Income (Loss) 2 1 8 - 11 ------------------------------------------------------------ Other Income (Deductions) Dividends and interest from affiliates - - - - - Interest and dividends - - - - - Other, net 6 - - (6) - ------------------------------------------------------------ Total other income (deductions) 6 - - (6) - ------------------------------------------------------------ Fixed Charges Interest on long-term debt - - - - - Other interest - - - - - Capitalized interest - - - - - ------------------------------------------------------------ Net fixed charges - - - - - ------------------------------------------------------------ Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 8 1 8 (6) 11 Income Tax Expense (Benefit) 1 - 3 - 4 Minority Interests - - - - - ------------------------------------------------------------ Net Income (Loss) $ 7 $ 1 $ 5 $ (6) $ 7 ============================================================
(9) Represents HYDRA-CO Enterprises, Inc., CMSG Stratton Company, HCE Biopower, Inc., HCO-Jamaica, Inc., HCE Jamaica Development, Inc. and New Bern Energy Recovery, Inc. consolidated. CMS GAS TRANSMISSION COMPANY Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
CMS Gas CMS CMS CMS CMS Transmission Energy CMS Gas Antrim Grand Bay Area CMS Company Investment Argentina Gas Lacs Pipeline Jackson (10) LLC Company LLC LLC LLC LLC Operating Revenue $ 3 $ 1 $ 1 $10 $ 4 $ 4 $ 2 --------------------------------------------------------------------------------------- Earnings from Equity Method Investees - - - - - - $ - --------------------------------------------------------------------------------------- Operating Expenses Cost of gas sold 1 - - - - - - Other operation expense 19 1 - 2 - 1 - Maintenance - - - 1 1 - - Depreciation and amortization - - - 3 1 1 1 General taxes 2 - 1 - - - - --------------------------------------------------------------------------------------- Total operating expenses 22 1 1 6 2 2 1 --------------------------------------------------------------------------------------- Operating Income (Loss) (19) - - 4 2 2 1 --------------------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates 3 - - - - - - Interest and dividends 3 - - - - - - Gain (loss) on asset sales (4) - - - - - - Other, net 97 - - - - - - --------------------------------------------------------------------------------------- Total other income (deductions) 99 - - - - - - --------------------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - - - 1 - - - Other interest 2 - - 1 - - - Capitalized interest - - - - - - - --------------------------------------------------------------------------------------- Net fixed charges 2 - - 2 - - - --------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 78 - - 2 2 2 1 Income Tax Expense (Benefit) 19 - - (8) (1) (2) (1) Minority Interests - - - - - - - --------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations 59 - - 10 3 4 2 Discontinued Operations (56) - - - - - - Cumulative Effect of Accounting Change - - - (1) - - - --------------------------------------------------------------------------------------- Net Income (Loss) $ 3 $ - $ - $ 9 $ 3 $ 4 $ 2 =======================================================================================
(Continued on Following Page) CMS GAS TRANSMISSION COMPANY Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions) (Continued from Previous Page)
CMS Panhandle CMS Inter- CMS Gas Marysville Eastern Field company Transmission Gas Liquids Pipe Line Services Elimina- Company Company Company Inc. tions Consol. Operating Revenue $ - $ - $ - $ - $25 ------------------------------------------------------------ Earnings from Equity Method Investees - - - - - ------------------------------------------------------------ Operating Expenses Cost of gas sold - - - - 1 Other operation expense - 2 - - 25 Maintenance - - - - 2 Depreciation and amortization - - - - 6 General taxes - - - - 3 ------------------------------------------------------------ Total operating expenses - 2 - - 37 ------------------------------------------------------------ Operating Income (Loss) - (2) - - (12) ------------------------------------------------------------ Other Income (Deductions) Dividends and interest from affiliates - 6 - (2) 7 Interest and dividends - - - - 3 Gain (loss) on asset sales - - - - (4) Other, net - - - (76) 21 ------------------------------------------------------------ Total other income (deductions) - 6 - (78) 27 ------------------------------------------------------------ Fixed Charges Interest on long-term debt - - - - 1 Other interest - - - (2) 1 Capitalized interest - - - - - ------------------------------------------------------------ Net fixed charges - - - (2) 2 ------------------------------------------------------------ Income (Loss) from Continuing Operations before Income Taxes and Minority Interests - 4 - (76) 13 Income Tax Expense (Benefit) - 1 - - 8 Minority Interests - - - - - ------------------------------------------------------------ Income (Loss) from Continuing Operations - 3 - (76) 5 Discontinued Operations (3) 62 (4) - (1) Cumulative Effect of Accounting Change - - - - (1) ------------------------------------------------------------ Net Income (Loss) $ (3) $ 65 $ (4) $ (76) $ 3 ============================================================
(10) Represents CMS Gas Transmission Company, CMS Saginaw Bay Lateral Company and CMS Litchfield LLC consolidated. CMS INT'L VENTURES LLC Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
CMS CMSG CMS Western CMS Operating Invest. Electric & Gas Australia CMSG Int'l Ventures SRL Co. III LLC GT Co. I Invest. LLC (11) Consol. Consol. Consol. Consol. Co. V Operating Revenue $ - $62 $ - $125 $ 3 $ - ---------------------------------------------------------------------------- Earnings from Equity Method Investees - 1 (1) - 23 6 ---------------------------------------------------------------------------- Operating Expenses Fuel for electric generation - 21 - - - - Purchased and interchange power - 13 - 38 - - Other operation expense 3 7 - 29 - - Maintenance - 6 - 5 - - Depreciation and amortization - 7 1 9 - - General taxes - - - 26 - - Asset impairment charges - - - 72 - - ---------------------------------------------------------------------------- Total operating expenses 3 54 1 179 - - ---------------------------------------------------------------------------- Operating Income (Loss) (3) 9 (2) (54) 26 6 ---------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates - 3 - - - - Interest and dividends - - - 4 - - Other, net 49 (5) - (1) 1 - ---------------------------------------------------------------------------- Total other income (deductions) 49 (2) - 3 1 - ---------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - 2 - - - - Other interest - - - 2 - - Capitalized interest - - - - - - ---------------------------------------------------------------------------- Net fixed charges - 2 - 2 - - ---------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 46 5 (2) (53) 27 6 Income Tax Expense (Benefit) - 4 - 4 5 - Minority Interests - - - (3) 3 - ---------------------------------------------------------------------------- Income (Loss) from Continuing Operations 46 1 (2) (54) 19 6 Discontinued Operations - - - 116 (42) - Cumulative Effect of Accounting Change - - - - - - ---------------------------------------------------------------------------- Net Income (Loss) $ 46 $ 1 $ (2) $ 62 $ (23) $ 6 ============================================================================
(Continued on Following Page) CMS INT'L VENTURES LLC Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions) (Continued from Previous Page)
CMS Inter- CMS Int'l Int'l Ventures company Ventures LLC Elimina- LLC Branch tions Consol. Operating Revenue $ - $ - $190 ------------------------------------ Earnings from Equity Method Investees - (3) 26 ------------------------------------ Operating Expenses Fuel for electric generation - - 21 Purchased and interchange power - - 51 Other operation expense 1 - 40 Maintenance - - 11 Depreciation and amortization 1 - 18 General taxes - - 26 Asset impairment charges - - 72 ------------------------------------ Total operating expenses 2 - 239 ------------------------------------ Operating Income (Loss) (2) (3) (23) ------------------------------------ Other Income (Deductions) Dividends and interest from affiliates - - 3 Interest and dividends - - 4 Other, net - (42) 2 ------------------------------------ Total other income (deductions) - (42) 9 ------------------------------------ Fixed Charges Interest on long-term debt - - 2 Other interest - - 2 Capitalized interest - - - ------------------------------------ Net fixed charges - - 4 ------------------------------------ Income (Loss) from Continuing Operations before Income Taxes and Minority Interests (2) (45) (18) Income Tax Expense (Benefit) - - 13 Minority Interests - (3) (3) ------------------------------------ Income (Loss) from Continuing Operations (2) (42) (28) Discontinued Operations - - 74 Cumulative Effect of Accounting Change - - - ------------------------------------ Net Income (Loss) $ (2) $ (42) $ 46 ====================================
(11) Represents CMS International Ventures LLC and CMS Generation SRL consolidated with CMS Operating SRL, CMSG Investment Company III, CMS Electric & Gas LLC and Western Australia GT Company I included on the equity method of accounting. CMS OPERATING SRL Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
Inter- CMS Centrales CMS Company CMS Operating Termicas Ensenada Elimina- Operating SRL (12) Mendoza SA SA tions SRL Consol Operating Revenue $ 1 $38 $24 $ (1) $62 ------------------------------------------------------------ Earnings from Equity Method Investees 1 - - - 1 ------------------------------------------------------------ Operating Expenses Fuel for electric generation - 12 10 (1) 21 Purchased and interchange power - 10 3 - 13 Other operation expense 1 3 3 - 7 Maintenance - 4 2 - 6 Depreciation and amortization 1 4 2 - 7 General taxes - - - - - Asset impairment charges - - - - - ------------------------------------------------------------ Total operating expenses 2 33 20 (1) 54 ------------------------------------------------------------ Operating Income (Loss) - 5 4 - 9 ------------------------------------------------------------ Other Income (Deductions) Dividends and interest from affiliates 3 - - - 3 Interest and dividends - - - - - Other, net (2) (3) 6 (6) (5) ------------------------------------------------------------ Total other income (deductions) 1 (3) 6 (6) (2) ------------------------------------------------------------ Fixed Charges Interest on long-term debt - - 2 - 2 Other interest - - - - - Capitalized interest - - - - - ------------------------------------------------------------ Net fixed charges - - 2 - 2 ------------------------------------------------------------ Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 1 2 8 (6) 5 Income Tax Expense (Benefit) - 1 3 - 4 Minority Interests - - - - - ------------------------------------------------------------ Income (Loss) from Continuing Operations 1 1 5 (6) 1 Discontinued Operations - - - - - Cumulative Effect of Accounting Change - - - - - ------------------------------------------------------------ Net Income (Loss) $ 1 $ 1 $ 5 $ (6) $ 1 ============================================================
(12) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated. CMSG INVESTMENT COMPANY III Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
CMSG CMSG Jegurupadu Inter- CMSG Investment Jegurupadu CMSG CMSG Company Investment Company O&M Co. Company Neyveli Elimina- Co. III III (13) Mauritius Limited Limited tions Consol. Operating Revenue $ - $ - $ - $ - $ - $ - --------------------------------------------------------------------------- Earnings from Equity Method Investees - 1 (3) 1 - (1) --------------------------------------------------------------------------- Operating Expenses Fuel for electric generation - - - - - - Purchased and interchange power - - - - - - Other operation expense - - - - - - Maintenance - - - - - - Depreciation and amortization - 1 - - - 1 General taxes - - - - - - Asset impairment charges - - - - - - --------------------------------------------------------------------------- Total operating expenses - 1 - - - 1 --------------------------------------------------------------------------- Operating Income (Loss) - - (3) 1 - (2) --------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates - - - - - - Interest and dividends - - - - - - Other, net (2) - - - 2 - --------------------------------------------------------------------------- Total other income (deductions) (2) - - - 2 - --------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - - - - - - Other interest - - - - - - Capitalized interest - - - - - - --------------------------------------------------------------------------- Net fixed charges - - - - - - --------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests (2) - (3) 1 2 (2) Income Tax Expense (Benefit) - - - - - - Minority Interests - - - - - - --------------------------------------------------------------------------- Income (Loss) from Continuing Operations (2) - (3) 1 2 (2) Discontinued Operations - - - - - - Cumulative Effect of Accounting Change - - - - - - --------------------------------------------------------------------------- Net Income (Loss) $ (2) $ - $ (3) $ 1 $ 2 $ (2) ===========================================================================
(13) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated. CMS ELECTRIC & GAS LLC Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
CMS Sistema Companhia Inter- CMS Electric Electrico del CMS CMS CMS Paulista Company Electric& & Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC LLC (14) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol. Operating Revenue $ (1) $ 44 $ - $ - $ - $ 82 $ - $125 ---------------------------------------------------------------------------------------- Earnings from Equity Method Investees - - - - - - - - ---------------------------------------------------------------------------------------- Operating Expenses Fuel for electric generation - - - - - - - - Purchased and interchange power - 16 - - - 22 - 38 Other operation expense - 10 - - 1 18 - 29 Maintenance - 4 - - - 1 - 5 Depreciation and amortization - 6 - - - 3 - 9 General taxes - 3 - - - 23 - 26 Asset impairment charges 2 61 35 8 1 - (35) 72 ---------------------------------------------------------------------------------------- Total operating expenses 2 100 35 8 2 67 (35) 179 ---------------------------------------------------------------------------------------- Operating Income (Loss) (3) (56) (35) (8) (2) 15 35 (54) ---------------------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates - - - - - - - - Interest and dividends 1 - - - - 3 - 4 Other, net 47 (1) - - - - (47) (1) ---------------------------------------------------------------------------------------- Total other income (deductions) 48 (1) - - - 3 (47) 3 ---------------------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - - - - - - - - Other interest - - - - - 2 - 2 Capitalized interest - - - - - - - - ---------------------------------------------------------------------------------------- Net fixed charges - - - - - 2 - 2 ---------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 45 (57) (35) (8) (2) 16 (12) (53) Income Tax Expense (Benefit) (1) - - - - 5 - 4 Minority Interests - (40) - - - 1 36 (3) ---------------------------------------------------------------------------------------- Income (Loss) from Continuing Operations 46 (17) (35) (8) (2) 10 (48) (54) Discontinued Operations 16 - - 100 - - - 116 Cumulative Effect of Accounting Change - - - - - - - - ---------------------------------------------------------------------------------------- Net Income (Loss) $ 62 $ (17) $ (35) $ 92 $ (2) $ 10 $ (48) $ 62 ========================================================================================
(14) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de Energia Ltda. consolidated. WESTERN AUSTRALIA GT CO I Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions)
Western CMS CMS Compania de Australia CMS Goldfields International Inversiones GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy I (15) SARL BV PTY LTD Svcs. Co. Chile Ltda Operating Revenue $ 2 $ - $ - $ - $ - $ - ------------------------------------------------------------------------- Earnings from Equity Method Investees - - - 14 - 9 ------------------------------------------------------------------------- Operating Expenses Fuel for electric generation - - - - - - Purchased and interchange power - - - - - - Other operation expense - - - - - - Maintenance - - - - - - Depreciation and amortization - - - - - - General taxes - - - - - - Asset impairment charges - - - - - - ------------------------------------------------------------------------- Total operating expenses - - - - - - ------------------------------------------------------------------------- Operating Income (Loss) 2 - - 14 - 9 ------------------------------------------------------------------------- Other Income (Deductions) Dividends and interest from affiliates 1 - - - 6 - Interest and dividends - - - - - - Other, net (23) 7 14 1 - - ------------------------------------------------------------------------- Total other income (deductions) (22) 7 14 1 6 - ------------------------------------------------------------------------- Fixed Charges Interest on long-term debt - - - - - - Other interest 2 1 5 - - - Capitalized interest - - - - - - ------------------------------------------------------------------------- Net fixed charges 2 1 5 - - - ------------------------------------------------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests (22) 6 9 15 6 9 Income Tax Expense (Benefit) 1 - 2 - - 1 Minority Interests - - - - - - ------------------------------------------------------------------------- Income (Loss) from Continuing Operations (23) 6 7 15 6 8 Discontinued Operations - - - - - - Cumulative Effect of Accounting Change - - - - - - ------------------------------------------------------------------------- Net Income (Loss) $ (23) $ 6 $ 7 $ 15 $ 6 $ 8 =========================================================================
(Continued on Following Page) WESTERN AUSTRALIA GT CO I Consolidating Statement of Income For the Year Ended December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- Western CMS GT company Australia of Elimina- GT Co. I Australia tions Consol. Operating Revenue $ 1 $ - $ 3 ---------------------------------- Earnings from Equity Method Investees - - 23 ---------------------------------- Operating Expenses Fuel for electric generation - - - Purchased and interchange power - - - Other operation expense - - - Maintenance - - - Depreciation and amortization - - - General taxes - - - Asset impairment charges - - - ---------------------------------- Total operating expenses - - - ---------------------------------- Operating Income (Loss) 1 - 26 ---------------------------------- Other Income (Deductions) Dividends and interest from affiliates 1 (8) - Interest and dividends - - - Other, net - 2 1 ---------------------------------- Total other income (deductions) 1 (6) 1 ---------------------------------- Fixed Charges Interest on long-term debt - - - Other interest - (8) - Capitalized interest - - - ---------------------------------- Net fixed charges - (8) - ---------------------------------- Income (Loss) from Continuing Operations before Income Taxes and Minority Interests 2 2 27 Income Tax Expense (Benefit) 1 - 5 Minority Interests - 3 3 ---------------------------------- Income (Loss) from Continuing Operations 1 (1) 19 Discontinued Operations (42) - (42) Cumulative Effect of Accounting Change - - - ---------------------------------- Net Income (Loss) $ (41) $ (1) $ (23) ==================================
(15) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS GT of Australia Holdings Company consolidated. CMS ENERGY CORPORATION Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
Consumers CMS Inter- CMS Energy Enterprises company Energy CMS Energy Company Company Elimina- Corporation Corp. (1) Consol. Consol. tions Consol. Plant and Property (At Cost) Electric $ - $ 7,600 $ - $ - $ 7,600 Gas - 2,875 - - 2,875 Enterprises - - 895 - 895 Other 17 15 - - 32 ------------------------------------------------------------ 17 10,490 895 - 11,402 Less accumulated depreciation and amortization 6 4,417 423 - 4,846 ------------------------------------------------------------ 11 6,073 472 - 6,556 Construction work-in-progress - 375 13 - 388 ------------------------------------------------------------ 11 6,448 485 - 6,944 ------------------------------------------------------------ Investments Associated companies 4,872 20 - (4,892) - Enterprises - - 724 - 724 First Midland Limited Partnership - 224 - - 224 Midland Cogeneration Venture - 419 - - 419 Other 5 18 - - 23 ------------------------------------------------------------ 4,877 681 724 (4,892) 1,390 ------------------------------------------------------------ Current Assets Cash and temporary cash investments - 46 486 - 532 Restricted cash - 18 183 - 201 Accounts/notes receivable (1) 257 147 - 403 Accounts/notes receivable-related parties 242 4 370 (543) 73 Inventories to average cost Gas in underground storage - 739 2 - 741 Materials and supplies - 70 40 - 110 Generating plant fuel stock - 41 - - 41 Assets held for sale 7 - 17 - 24 Price risk management assets - - 102 - 102 Prepayments and other 3 242 22 - 267 ------------------------------------------------------------ 251 1,417 1,369 (543) 2,494 ------------------------------------------------------------ Non-current Assets Regulatory Assets Securitization costs - 648 - - 648 Postretirement benefits - 162 - - 162 Abandoned Midland project - 10 - - 10 Other - 266 - - 266 Assets held for sale - - 2 - 2 Price risk management assets - - 177 - 177 Nuclear decommissioning trust funds - 575 - - 575 Prepaid pension costs - 364 24 - 388 Goodwill - - 25 - 25 Notes receivable-related parties 109 - 531 (398) 242 Notes receivable - - 125 - 125 Other 99 174 154 (37) 390 ------------------------------------------------------------ 208 2,199 1,038 (435) 3,010 ------------------------------------------------------------ Total Assets $ 5,347 $ 10,745 $ 3,616 $ (5,870) $ 13,838 ============================================================
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS Enterprises Company included on the equity method of accounting. CMS ENERGY CORPORATION Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
Consumers CMS Inter- CMS Energy Enterprises company Energy CMS Energy Company Company Elimina- Corporation Corp. (1) Consol. Consol. tions Consol. Capitalization Common Stockholders' Equity Common stock $ 2 $ 841 $ - $ (841) $ 2 Other paid-in-capital 3,887 682 5,721 (6,444) 3,846 Other comprehensive income (loss) (419) 17 (439) 422 (419) Retained earnings (deficit) (1,844) 521 (2,495) 1,974 (1,844) ------------------------------------------------------------ 1,626 2,061 2,787 (4,889) 1,585 Preferred stock of subsidiary - 44 - - 44 Preferred stock 250 - 11 - 261 Long-term debt 2,277 3,583 160 - 6,020 Long-term debt-related parties 474 506 102 (398) 684 Non-current capital leases - 58 - - 58 ------------------------------------------------------------ 4,627 6,252 3,060 (5,287) 8,652 ------------------------------------------------------------ Minority Interests - - 73 - 73 ------------------------------------------------------------ Current Liabilities Current portion of long-term debt 451 28 30 - 509 Current capital leases - 10 - - 10 Notes payable 255 200 1 (456) - Accounts payable 8 200 109 - 317 Accounts payable-related parties 18 75 36 (89) 40 Accrued interest 69 58 6 (3) 130 Accrued taxes (48) 209 28 96 285 Liabilities held for sale - - 2 - 2 Price risk management liabilities - - 89 - 89 Current portion of purchase power contracts - 27 - - 27 Current portion of gas supply contract obligations - - 29 - 29 Deferred income taxes - 33 (6) - 27 Other 11 127 47 - 185 ------------------------------------------------------------ 764 967 371 (452) 1,650 ------------------------------------------------------------ Non-current Liabilities Postretirement benefits 31 190 44 - 265 Deferred income taxes (75) 1,233 (419) (124) 615 Deferred investment tax credit - 85 - - 85 Regulatory liabilities for income taxes, net - 312 - - 312 Regulatory liabilities for cost of removal - 983 - - 983 Other regulatory liabilities - 172 - - 172 Asset retirement obligation - 358 1 - 359 Liabilities held for sale - - - - - Price risk management liabilities - - 175 - 175 Gas supply contract obligations - - 208 - 208 Other - 193 103 (7) 289 ------------------------------------------------------------ (44) 3,526 112 (131) 3,463 ------------------------------------------------------------ Total Stockholders' Equity and Liabilities $ 5,347 $ 10,745 $ 3,616 $ (5,870) $ 13,838 ============================================================
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS Enterprises Company included on the equity method of accounting. CONSUMERS ENERGY COMPANY Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
Consumers Consumers Consumers CMS Consumers Receivables Consumers Campus Nuclear ES Midland Energy Funding II Funding Holdings Services Services Holdings Company (2) LLC LLC LLC LLC Company Company Plant and Property (At Cost) Electric $ 7,600 $ - $ - $ - $ - $ - $ - Gas 2,875 - - - - - - Other 15 - - - - - - ------------------------------------------------------------------------------------ 10,490 - - - - - - Less accumulated depreciation, depletion and amortization 4,417 - - - - - - ------------------------------------------------------------------------------------ 6,073 - - - - - - Construction work-in-progress 375 - - - - - - ------------------------------------------------------------------------------------ 6,448 - - - - - - ------------------------------------------------------------------------------------ Investments Associated companies 672 - - - - - - First Midland Limited Partnership - - - - - - 224 Midland Cogeneration Venture - - - - - - - Other 16 - - - 2 - - ------------------------------------------------------------------------------------ 688 - - - 2 - 224 ------------------------------------------------------------------------------------ Current Assets Cash and temporary cash investments 44 - - - - 1 - Restricted cash 1 - 17 - - - - Accounts/notes receivable 37 220 - - - - - Accounts/notes receivable-related parties 5 - 27 7 - - - Inventories to average cost Gas in underground storage 739 - - - - - - Materials and supplies 70 - - - - - - Generating plant fuel stock 41 - - - - - - Deferred property taxes 143 - - - - - - Regulatory assets-postretirement benefits 19 - - - - - - Prepayments and other 80 - - - - - - ------------------------------------------------------------------------------------ 1,179 220 44 7 - 1 - ------------------------------------------------------------------------------------ Non-current Assets Regulatory Assets Securitization costs 648 - - - - - - Postretirement benefits 162 - - - - - - Abandoned Midland project 10 - - - - - - Other 266 - - - - - - Nuclear decommissioning trust funds 575 - - - - - - Prepaid pension costs 364 - - - - - - Notes receivable-related parties - - 389 - - - - Other 174 - - - - - - ------------------------------------------------------------------------------------ 2,199 - 389 - - - - ------------------------------------------------------------------------------------ Total Assets $ 10,514 $ 220 $ 433 $ 7 $ 2 $ 1 $ 224 ====================================================================================
(Continued on Next Page) CONSUMERS ENERGY COMPANY Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- Consumers CMS Company Energy Midland Elimina- Company Inc. tions Consol. Plant and Property (At Cost) Electric $ - $ - $ 7,600 Gas - - 2,875 Other - - 15 -------------------------------- - - 10,490 Less accumulated depreciation, depletion and amortization - - 4,417 -------------------------------- - - 6,073 Construction work-in-progress - - 375 -------------------------------- - - 6,448 -------------------------------- Investments Associated companies - (652) 20 First Midland Limited Partnership - - 224 Midland Cogeneration Venture 419 - 419 Other - - 18 -------------------------------- 419 (652) 681 -------------------------------- Current Assets Cash and temporary cash investments 1 - 46 Restricted cash - - 18 Accounts/notes receivable - - 257 Accounts/notes receivable-related parties 10 (45) 4 Inventories to average cost Gas in underground storage - - 739 Materials and supplies - - 70 Generating plant fuel stock - - 41 Deferred property taxes - - 143 Regulatory assets-postretirement benefits - - 19 Prepayments and other - - 80 -------------------------------- 11 (45) 1,417 -------------------------------- Non-current Assets Regulatory Assets Securitization costs - - 648 Postretirement benefits - - 162 Abandoned Midland project - - 10 Other - - 266 Nuclear decommissioning trust funds - - 575 Prepaid pension costs - - 364 Notes receivable-related parties - (389) - Other - - 174 -------------------------------- - (389) 2,199 -------------------------------- Total Assets $ 430 $ (1,086) $ 10,745 ================================
(2) Represents Consumers Energy Company, CMS Engineering Company and MEC Development Corp. consolidated with Consumers Receivables Funding II LLC, Consumers Funding LLC, Consumers Campus Holdings LLC, Consumers Nuclear Services LLC, ES Services Company, CMS Midland Holdings Company and CMS Midland, Inc. included on the equity method of accounting. CONSUMERS ENERGY COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
Consumers Consumers Consumers CMS Consumers Receivables Consumers Campus Nuclear ES Midland Energy Funding II Funding Holdings Services Services Holdings Company (2) LLC LLC LLC LLC Company Company Capitalization Common Stockholders' Equity Common stock $ 841 $ - $ - $ - $ - $ - $ - Other paid-in-capital 682 220 3 - 2 1 31 Other comprehensive income 17 - - - - - - Retained earnings 521 - - - - - 33 --------------------------------------------------------------------------- 2,061 220 3 - 2 1 64 Preferred stock 44 - - - - - - Long-term debt 3,185 - 398 - - - - Long-term debt-related parties 895 - - - - - - Non-current capital leases 58 - - 6 - - - --------------------------------------------------------------------------- 6,243 220 401 6 2 1 64 --------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - 28 - - - - Current capital leases 10 - - 1 - - - Notes payable-related parties 237 - - - - - - Accounts payable 200 - - - - - - Accounts payable-related parties 76 - - - - - - Accrued interest 54 - 4 - - - - Accrued taxes 201 - - - - - 1 Current portion of purchase power contracts 27 - - - - - - Deferred income taxes 25 - - - - - 8 Other 127 - - - - - - --------------------------------------------------------------------------- 957 - 32 1 - - 9 --------------------------------------------------------------------------- Non-current Liabilities Deferred income taxes 1,033 - - - - - 140 Regulatory liabilities for cost of removal 983 - - - - - - Postretirement benefits 190 - - - - - - Regulatory liabilities for income taxes, net 312 - - - - - - Asset retirement obligations 358 - - - - - - Other regulatory liabilities 172 - - - - - - Deferred investment tax credit 73 - - - - - 11 Other 193 - - - - - - --------------------------------------------------------------------------- 3,314 - - - - - 151 --------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 10,514 $ 220 $ 433 $ 7 $ 2 $ 1 $ 224 ===========================================================================
(Continued on the Next Page) CONSUMERS ENERGY COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- Consumers CMS Company Energy Midland Elimina- Company Inc. tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ 841 Other paid-in-capital 163 (420) 682 Other comprehensive income 10 (10) 17 Retained earnings 189 (222) 521 -------------------------- 362 (652) 2,061 Preferred stock - - 44 Long-term debt - - 3,583 Long-term debt-related parties - (389) 506 Non-current capital leases - (6) 58 -------------------------- 362 (1,047) 6,252 -------------------------- Current Liabilities Current portion of long-term debt - - 28 Current capital leases - (1) 10 Notes payable-related parties - (37) 200 Accounts payable - - 200 Accounts payable-related parties - (1) 75 Accrued interest - - 58 Accrued taxes 1 6 209 Current portion of purchase power contracts - - 27 Deferred income taxes - - 33 Other - - 127 -------------------------- 1 (33) 967 -------------------------- Non-current Liabilities Deferred income taxes 66 (6) 1,233 Regulatory liabilities for cost of removal - - 983 Postretirement benefits - - 190 Regulatory liabilities for income taxes, net - - 312 Asset retirement obligations - - 358 Other regulatory liabilities - - 172 Deferred investment tax credit 1 - 85 Other - - 193 -------------------------- 67 (6) 3,526 -------------------------- Total Stockholders' Equity and Liabilities 430 $(1,086) $10,745 ==========================
(2) Represents Consumers Energy Company, CMS Engineering Company and MEC Development Corp. consolidated with Consumers Receivables Funding II LLC, Consumers Funding LLC, Consumers Campus Holdings LLC, Consumers Nuclear Services LLC, ES Services Company, CMS Midland Holdings Company and CMS Midland, Inc. included on the equity method of accounting. CMS ENTERPRISES COMPANY Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMS CMS Gas CMS CMS CMS CMS Generation Transmission Energy Int'l CMS Technology Enterprises Co. Company Resource Mgt. Vent. LLC Capital Companies Company (3) Consol. Consol. Company Consol. LLC (4) Plant and Property (At Cost) Enterprises $ 22 $ 400 $ 118 $ 5 $ 350 $ 1 $ - Other - - - - - - - ---------------------------------------------------------------------------------- 22 400 118 5 350 1 - Less accumulated depreciation, depletion and amortization 2 141 43 2 235 - - ---------------------------------------------------------------------------------- 20 259 75 3 115 1 - Construction work-in-progress - - - - 13 - - ---------------------------------------------------------------------------------- 20 259 75 3 128 1 - ---------------------------------------------------------------------------------- Investments Associated companies 2,430 144 250 - - - - Enterprises 2 358 - - 364 - - Other - - - - - - - ---------------------------------------------------------------------------------- 2,432 502 250 - 364 - - ---------------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - 28 2 2 44 410 - Restricted cash 165 18 - - - - - Accounts/notes receivable 1 29 4 36 48 28 - Accounts/notes receivable-related parties 416 104 50 57 28 286 22 Gas in underground storage - - 2 - - - - Materials and supplies - 27 1 - 12 - - Assets held for sale - - 4 - 13 - - Price risk management assets 7 - - 95 - - - Deferred income taxes (3) - - - - - (1) Prepayments and other - 11 1 1 18 1 - ---------------------------------------------------------------------------------- 586 217 64 191 163 725 21 ---------------------------------------------------------------------------------- Non-current Assets Assets held for sale - - - - 2 - - Price risk management assets 8 - - 169 - - - Prepaid pension costs 11 10 (7) 4 - 2 - Goodwill - 1 - - 24 - - Notes receivable-related parties 116 52 22 275 86 102 - Notes receivable - 107 18 - - - - Deferred income taxes 77 115 172 46 1 - 3 Other 7 64 8 2 73 - - ---------------------------------------------------------------------------------- 219 349 213 496 186 104 3 ---------------------------------------------------------------------------------- Total Assets $ 3,257 $ 1,327 $ 602 $ 690 $ 841 $ 830 $ 24 ==================================================================================
(Continued on Following Page) CMS ENTERPRISES COMPANY Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
CMS CMS CMS Inter- CMS Resource Energy Business CMS company Enterprises Development UK Development Texas Elimina- Company Company Limited LLC LLC tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ (1) $ 895 Other - - - - - - -------------------------------------------------------------- - - - - (1) 895 Less accumulated depreciation, depletion and amortization - - - - - 423 -------------------------------------------------------------- - - - - (1) 472 Construction work-in-progress - - - - - 13 -------------------------------------------------------------- - - - - (1) 485 -------------------------------------------------------------- Investment Associated companies - - - - (2,824) - Enterprises - - - - - 724 Other - - - - - - -------------------------------------------------------------- - - - - (2,824) 724 -------------------------------------------------------------- Current Assets Cash and temporary cash investments - - - - - 486 Restricted cash - - - - - 183 Accounts/notes receivable - 1 - - - 147 Accounts/notes receivable-related parties 6 - 3 1 (603) 370 Gas in underground storage - - - - - 2 Materials and supplies - - - - - 40 Assets held for sale - - - - - 17 Price risk management assets - - - - - 102 Deferred income taxes - - - - 10 6 Prepayments and other - - - - (10) 22 -------------------------------------------------------------- 6 1 3 1 (603) 1,375 -------------------------------------------------------------- Non-current Assets Assets held for sale - - - - - 2 Price risk management assets - - - - - 177 Prepaid pension costs 3 - - 1 - 24 Goodwill - - - - - 25 Notes receivable-related parties - - - - (122) 531 Notes receivable - - - - - 125 Deferred income taxes - - - - 5 419 Other - - - - - 154 -------------------------------------------------------------- 3 - - 1 (117) 1,457 -------------------------------------------------------------- Total Assets $ 9 $ 1 $ 3 $ 2 $(3,545) $ 4,041 ==============================================================
(3) Represents CMS Enterprises Company, CMS Land Company, CMS Comercializadora de Energia SA, CMS Enterprises Holding Company SA, CMS Energy South America Company and CMS Energy Asia Private Limited consolidated with CMS Generation Co., CMS Gas Transmission Company, CMS Energy Resource Management Company, CMS International Ventures LLC, CMS Capital LLC, CMS Resource Development Company, CMS Energy UK Limited, CMS Business Development LLC and CMS Texas LLC included on the equity method of accounting. (4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS Enterprises Development LLC. CMS ENTERPRISES COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMS CMS Gas CMS CMS CMS CMS Generation Transmission Energy Int'l CMS Technology Enterprises Co. Company Resource Mgt. Vent. LLC Capital Companies Company (3) Consol. Consol. Company Consol. LLC (4) Capitalization Common Stockholders' Equity Common stock $ 1 $ - $ - $ - $ - $ - $ - Other paid-in-capital 5,824 2,309 1,333 277 945 381 61 Other comprehensive income (loss) (439) (84) (251) - (270) - - Retained earnings (deficit) (2,522) (1,092) (672) (164) 2 15 (36) --------------------------------------------------------------------------------- 2,864 1,133 410 113 677 396 25 Preferred stock - - 11 - - - - Long-term debt - 113 2 1 37 7 - Long-term debt-related parties 102 2 - - 18 102 - Non-current capital leases - - - - - - - --------------------------------------------------------------------------------- 2,966 1,248 423 114 732 505 25 --------------------------------------------------------------------------------- Minority Interests - 48 3 - 13 - - --------------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - 14 - - 9 7 - Current capital leases - - - - - - - Notes payable 247 (15) 2 13 8 297 - Accounts payable 34 19 3 21 28 4 - Accounts payable-related parties 23 28 5 13 - 8 1 Accrued interest 2 3 - - 1 2 - Accrued taxes (26) (80) 117 (13) 21 7 (2) Liabilities held for sale - - - - 2 - - Price risk management liabilities - - - 90 - - - Current portion of gas supply - contract obligation - - - 29 - - - Other 1 24 14 1 5 - - --------------------------------------------------------------------------------- 281 (7) 141 154 74 325 (1) --------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits 10 5 17 4 4 - - Asset retirement obligation - - 1 - - - - Price risk management liabilities - - - 175 - - - Gas supply contract obligations - - - 208 - - - Other - 33 17 35 18 - - --------------------------------------------------------------------------------- 10 38 35 422 22 - - --------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 3,257 $ 1,327 $ 602 $ 690 $ 841 $ 830 $ 24 =================================================================================
(Continued on Following Page) CMS ENTERPRISES COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
CMS CMS CMS Inter- CMS Resource Energy Business CMS company Enterprises Development UK Development Texas Elimina- Company Company Limited LLC LLC tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ (1) $ - Other paid-in-capital 4 2 - - (5,415) 5,721 Other comprehensive income (loss) - (1) - - 606 (439) Retained earnings (deficit) (1) - 1 (3) 1,977 (2,495) ------------------------------------------------------------ 3 1 1 (3) (2,833) 2,787 Preferred stock - - - - - 11 Long-term debt - - - - - 160 Long-term debt-related parties - - - - (122) 102 Non-current capital leases - - - - - - ------------------------------------------------------------ - 3 1 1 (3) (2,955) 3,060 ------------------------------------------------------------ Minority Interests - - - - 9 73 ------------------------------------------------------------ Current Liabilities Current portion of long-term debt - - - - - 30 Current capital leases - - - - - - Notes payable 1 - - 3 (555) 1 Accounts payable - - - - - 109 Accounts payable-related parties 2 - 1 1 (46) 36 Accrued interest - - - - (2) 6 Accrued taxes - - - (1) 5 28 Liabilities held for sale - - - - - 2 Price risk management liabilities - - - - (1) 89 Current portion of gas supply contract obligations - - - - - 29 Other 2 - - - - 47 ------------------------------------------------------------ 5 - 1 3 (599) 377 ------------------------------------------------------------ Non-current Liabilities Postretirement benefits 1 - 1 2 - 44 Asset retirement obligation - - - - - 1 Price risk management liabilities - - - - - 175 Gas supply contract obligations - - - - - 208 Other - - - - - 103 ------------------------------------------------------------ 1 - 1 2 - 531 ------------------------------------------------------------ Total Stockholders' Equity and Liabilities $ 9 $ 1 $ 3 $ 2 $ (3,545) $ 4,041 ============================================================
(3) Represents CMS Enterprises Company, CMS Land Company, CMS Comercializadora de Energia SA, CMS Enterprises Holding Company SA, CMS Energy South America Company and CMS Energy Asia Private Limited consolidated with CMS Generation Co., CMS Gas Transmission Company, CMS Energy Resource Management Company, CMS International Ventures LLC, CMS Capital LLC, CMS Resource Development Company, CMS Energy UK Limited, CMS Business Development LLC and CMS Texas LLC included on the equity method of accounting. (4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS Enterprises Development LLC. CMS GENERATION CO. Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG TES Genesee Grayling Dearborn CMS Filer City Filer City Power Generating CMSG Industrial Generation Operating LP LP LP Operating Generation Co. (5) Company Consol. Consol. Consol. Company LLC Plant and Property (At Cost) Enterprises $ 2 $ - $ 95 $ 78 $ 67 $ - $ 88 Less accumulated depreciation, depletion and amortization 1 - 32 16 19 - 25 --------------------------------------------------------------------------- 1 - 63 62 48 - 63 Construction work-in-progress - - - - - - - --------------------------------------------------------------------------- 1 - 63 62 48 - 63 --------------------------------------------------------------------------- Investments Associated companies 779 - - - - - - Enterprises 26 - - - - - - --------------------------------------------------------------------------- 805 - - - - - - --------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - - 1 13 1 - - Restricted cash 18 - - - - - - Accounts/notes receivable (1) - - - - - 7 Accounts/notes receivable-related parties 12 1 6 6 5 5 12 Materials and supplies - - 4 1 1 - 14 Prepayments and other - - - - 1 - 3 --------------------------------------------------------------------------- 29 1 11 20 8 5 36 --------------------------------------------------------------------------- Non-current Assets Prepaid pension costs 1 1 - - - 4 - Goodwill - - - - - - - Notes receivable-related parties 9 - - - - - - Notes receivable - - - - - - - Deferred income taxes 128 - (4) (5) (7) (1) - Other 49 - 4 7 4 - - --------------------------------------------------------------------------- 187 1 - 2 (3) 3 - --------------------------------------------------------------------------- Total Assets $1,022 $ 2 $ 74 $ 84 $ 53 $ 8 $ 99 ===========================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
Dearborn Taweelah CMSG CMSG CMSG CMSG Generating Exeter A2 Michigan Int'l Investment Investment Operating Energy Operating Power Operating Co. IV Co. VI LLC LP Company LLC Co. Consol. Consol. Consol. Plant and Property (At Cost) Enterprises $ - $ 50 $ - $ 17 $ - $ - $ 3 Less accumulated depreciation, depletion and amortization - 38 - 10 - - - ------------------------------------------------------------------------ - 12 - 7 - - 3 Construction work-in-progress - - - - - - - ------------------------------------------------------------------------ - 12 - 7 - - 3 ------------------------------------------------------------------------ Investments Associated companies - - - - - - - Enterprises - - - - - 257 - ------------------------------------------------------------------------ - - - - - 257 - ------------------------------------------------------------------------ Current Assets Cash and temporary cash investments - 5 - - 7 - 1 Restricted cash - - - - - - - Accounts/notes receivable - - - - 5 - 18 Accounts/notes receivable-related parties 5 1 3 1 25 50 1 Materials and supplies - - - - - - 7 Prepayments and other - - 1 - 4 - 1 ------------------------------------------------------------------------ 5 6 4 1 41 50 28 ------------------------------------------------------------------------ Non-current Assets Prepaid pension costs 2 - - - - - - Goodwill - - - - - - - Notes receivable-related parties - - - - 4 81 50 Notes receivable - - - - - - 107 Deferred income taxes - - - - - - (9) Other - - 1 - - - - ------------------------------------------------------------------------ 2 - 1 - 4 81 148 ------------------------------------------------------------------------ Total Assets $ 7 $ 18 $ 5 $ 8 $ 45 $ 388 $ 179 ========================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
CMSG CMSG HYDRA-CO Inter- CMS Investment Honey Enterprises, CMSG company Generation Co. VII Lake Inc. Investment Elimina- Co. Consol. Company Consol. Co. I tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ 400 Less accumulated depreciation, depletion and amortization - - - - - 141 ----------------------------------------------------------------- - - - - - 259 Construction work-in-progress - - - - - - ----------------------------------------------------------------- - - - - - 259 ----------------------------------------------------------------- Investments Associated companies - - - - (635) 144 Enterprises 34 - 41 - - 358 ----------------------------------------------------------------- 34 - 41 - (635) 502 ----------------------------------------------------------------- Current Assets Cash and temporary cash investments - - - - - 28 Restricted cash - - - - - 18 Accounts/notes receivable - - - - - 29 Accounts/notes receivable-related parties - 1 4 - (34) 104 Materials and supplies - - - - - 27 Prepayments and other - - 1 - - 11 ----------------------------------------------------------------- - 1 5 - (34) 217 ----------------------------------------------------------------- Non-current Assets Prepaid pension costs - - 2 - - 10 Goodwill - - 1 - - 1 Notes receivable-related parties - - - - (92) 52 Notes receivable - - - - - 107 Deferred income taxes - 3 5 - 5 115 Other - - - - (1) 64 ----------------------------------------------------------------- - 3 8 - (88) 349 ----------------------------------------------------------------- Total Assets $ 34 $ 4 $ 54 $ - $ (757) $ 1,327 =================================================================
(5) Represents CMS Generation Company, CMSG Altoona Company, CMSG Chateaugay Company, Exeter Management Company and CMSG Recycling Company consolidated with CMSG Filer City, Inc., CMSG Genesee Company, CMSG Holdings Company, CMSG Grayling Company, CMSG Grayling Holding Company, CMS International Operating Company, CMSG Investment Company IV, CMSG Investment Company VI, CMSG Investment Company VIl and HYDRA-CO Enterprises, Inc. included on the equity method of accounting. CMS GENERATION CO. Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG TES Genesee Grayling Dearborn CMS Filer City Filer City Power Generating CMSG Industrial Generation Operating LP LP LP Operating Generation Co. (5) Company Consol. Consol. Consol. Company LLC Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - $ - Other paid-in-capital 2,353 1 6 16 11 3 562 Other comprehensive income (loss) (84) - - - - - - Retained earnings (deficit) (1,124) - 14 (13) (8) - (543) --------------------------------------------------------------------------- 1,145 1 20 3 3 3 19 Long-term debt - - 12 65 35 - - Long-term debt-related parties - - - - - - - Non-current capital leases - - - - - - - --------------------------------------------------------------------------- 1,145 1 32 68 38 3 19 --------------------------------------------------------------------------- Minority Interests - - 24 4 8 - - --------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - 9 2 3 - - Current capital leases - - - - - - - Notes payable (39) - - 2 - - 22 Accounts payable 8 - - 2 - - 4 Accounts payable-related parties 4 1 1 3 1 2 17 Accrued interest - - - 3 - - - Accrued taxes (100) - - (1) - 1 - Other 1 - 8 1 1 - 11 --------------------------------------------------------------------------- (126) 1 18 12 5 3 54 --------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits 3 - - - - 2 - Other - - - - 2 - 26 --------------------------------------------------------------------------- 3 - - - 2 2 26 --------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 1,022 $ 2 $ 74 $ 84 $ 53 $ 8 $ 99 ===========================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
Dearborn Taweelah CMSG CMSG CMSG CMSG Generating Exeter A2 Michigan Int'l Investment Investment Operating Energy Operating Power Operating Co. IV Co. VI LLC LP Company LLC Co. Consol. Consol. Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - $ - Other paid-in-capital 4 (13) 1 75 3 66 115 Other comprehensive income (loss) - - - - - (11) - Retained earnings (deficit) 1 30 2 (68) 22 277 45 ----------------------------------------------------------------------------------- 5 17 3 7 25 332 160 Long-term debt - - - - - - - Long-term debt-related parties - - - - - 40 - Non-current capital leases - - - - - - - ----------------------------------------------------------------------------------- 5 17 3 7 25 372 160 ----------------------------------------------------------------------------------- Minority Interests - - - - - - 12 ----------------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - - Current capital leases - - - - - - - Notes payable - - - - 12 14 - Accounts payable 1 - 1 1 - - 2 Accounts payable-related parties 1 1 - - 2 - - Accrued interest - - - - - 1 - Accrued taxes - - - - 4 - 4 Other - - - - 1 - 1 ----------------------------------------------------------------------------------- 2 1 1 1 19 15 7 ----------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - - Other - - 1 - 1 1 - ----------------------------------------------------------------------------------- - - 1 - 1 1 - ----------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 7 $ 18 $ 5 $ 8 $ 45 $ 388 $ 179 ===================================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
CMSG CMSG HYDRA-CO Investment Honey Enterprises, CMSG CMSG CMSG Co. VII Lake Inc. Investment Altoona Recycling Consol. Company Consol. Co. I Company Company Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - Other paid-in-capital 12 10 199 - (6) 3 Other comprehensive income (loss) (15) - - - - - Retained earnings (deficit) (19) (6) (156) - 6 (3) ------------------------------------------------------------------------- (22) 4 43 - - - Long-term debt - - 1 - - - Long-term debt-related parties 54 - - - - - Non-current capital leases - - - - - - ------------------------------------------------------------------------- 32 4 44 - - - ------------------------------------------------------------------------- Minority Interests - - - - - - ------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - Current capital leases - - - - - - Notes payable - - - - - - Accounts payable - - - - - - Accounts payable-related parties - - 1 - - - Accrued interest - - 1 - - - Accrued taxes - - 7 - - - Other - - - - - - ------------------------------------------------------------------------- - - 9 - - - ------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - Other 2 - 1 - - - ------------------------------------------------------------------------- 2 - 1 - - - ------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 34 $ 4 $ 54 $ - $ - $ - =========================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- CMS company Generation Elimina- Co. tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - Other paid-in-capital (1,112) 2,309 Other comprehensive income (loss) 26 (84) Retained earnings (deficit) 451 (1,092) -------------------- (635) 1,133 Long-term debt - 113 Long-term debt-related parties (92) 2 Non-current capital leases - - -------------------- (727) 1,248 -------------------- Minority Interests - 48 -------------------- Current Liabilities Current portion of long-term debt - 14 Current capital leases - - Notes payable (26) (15) Accounts payable - 19 Accounts payable-related parties (6) 28 Accrued interest (2) 3 Accrued taxes 5 (80) Other - 24 -------------------- (29) (7) -------------------- Non-current Liabilities Postretirement benefits - 5 Other (1) 33 -------------------- (1) 38 -------------------- Total Stockholders' Equity and Liabilities $ (757) $ 1,327 ====================
(5) Represents CMS Generation Company, CMSG Chateaugay Company and Exeter Management Company consolidated with CMSG Filer City, Inc., CMSG Genesee Company, CMSG Holdings Company, CMSG Grayling Company, CMSG Grayling Holding Company, CMS International Operating Company, CMSG Investment Company IV, CMSG Investment Company VI, CMSG Investment Company VII and HYDRA-CO Enterprises, Inc. included on the equity method of accounting. TES FILER CITY STATION LP Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
TES Inter- TES CMSG Filer City company Filer City Filer City Station Elimina- LP Inc. LP tions Consol. Plant and Property (At Cost) Enterprises $ - $ 95 $ - $ 95 Less accumulated depreciation, depletion and amortization - 32 - 32 ---------------------------------------------- - 63 - 63 Construction work-in-progress - - - - ---------------------------------------------- - 63 - 63 ---------------------------------------------- Investments Associated companies 24 - (24) - Enterprises - - - - ---------------------------------------------- 24 - (24) - ---------------------------------------------- Current Assets Cash and temporary cash investments - 1 - 1 Restricted cash - - - - Accounts/notes receivable - - - - Accounts/notes receivable-related parties - 6 - 6 Materials and supplies - 4 - 4 Prepayments and other - - - - ---------------------------------------------- - 11 - 11 ---------------------------------------------- Non-current Assets Prepaid pension costs - - - - Goodwill - - - - Notes receivable-related parties - - - - Notes receivable - - - - Deferred income taxes (4) - - (4) Other - 4 - 4 ---------------------------------------------- (4) 4 - - ---------------------------------------------- Total Assets $ 20 $ 78 $(24) $ 74 ==============================================
TES FILER CITY STATION LP Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
TES Inter- TES CMSG Filer City company Filer City Filer City Station Elimina- LP Inc. LP tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - Other paid-in-capital 6 46 (46) 6 Other comprehensive income (loss) - - - - Retained earnings (deficit) 14 2 (2) 14 ---------------------------------------------- 20 48 (48) 20 Long-term debt - 12 - 12 Long-term debt-related parties - - - - Non-current capital leases - - - - ---------------------------------------------- 20 60 (48) 32 ---------------------------------------------- Minority Interests - - 24 24 ---------------------------------------------- Current Liabilities Current portion of long-term debt - 9 - 9 Current capital leases - - - - Notes payable - - - - Accounts payable - - - - Accounts payable-related parties - 1 - 1 Accrued interest - - - - Accrued taxes - - - - Other - 8 - 8 ---------------------------------------------- - 18 - 18 ---------------------------------------------- Non-current Liabilities Postretirement benefits - - - - Other - - - - ---------------------------------------------- - - - - ---------------------------------------------- Total Stockholders' Equity and Liabilities $ 20 $ 78 $ (24) $ 74 ==============================================
GENESEE POWER STATION LP Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
Genesee Inter- Genesee CMSG CMSG Power company Power Genesee Holdings Station Elimina- LP Company Co. (6) LP tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ 78 $ - $ 78 Less accumulated depreciation, depletion and amortization - - 16 - 16 ---------------------------------------------------------- - - 62 - 62 Construction work-in-progress - - - - - ---------------------------------------------------------- - - 62 - 62 ---------------------------------------------------------- Investments Associated companies - 4 - (4) - Enterprises - - - - - ---------------------------------------------------------- - 4 - (4) - ---------------------------------------------------------- Current Assets Cash and temporary cash investments - - 13 - 13 Restricted cash - - - - - Accounts/notes receivable - - - - - Accounts/notes receivable-related parties 1 2 3 - 6 Materials and supplies - - 1 - 1 Prepayments and other - - - - - ---------------------------------------------------------- 1 2 17 - 20 ---------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - Goodwill - - - - - Notes receivable-related parties - - - - - Notes receivable - - - - - Deferred income taxes (1) (4) - - (5) Other - - 7 - 7 ---------------------------------------------------------- (1) (4) 7 - 2 ---------------------------------------------------------- Total Assets $ - $ 2 $ 86 $ (4) $ 84 ==========================================================
(6) Includes GPS Newco LLC. GENESEE POWER STATION LP Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
Genesee Inter- Genesee CMSG CMSG Power company Power Genesee Holdings Station Elimina- LP Company Co. (6) LP tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - Other paid-in-capital - 16 8 (8) 16 Other comprehensive income (loss) - - - - - Retained earnings (deficit) - (13) - - (13) ---------------------------------------------------------- - 3 8 (8) 3 Long-term debt - - 65 - 65 Long-term debt-related parties - - - - - Non-current capital leases - - - - - ---------------------------------------------------------- - 3 73 (8) 68 ---------------------------------------------------------- Minority Interests - - - 4 4 ---------------------------------------------------------- Current Liabilities Current portion of long-term debt - - 2 - 2 Current capital leases - - - - - Notes payable - - 2 - 2 Accounts payable - - 2 - 2 Accounts payable-related parties - - 3 - 3 Accrued interest - - 3 - 3 Accrued taxes - (1) - - (1) Other - - 1 - 1 ---------------------------------------------------------- - (1) 13 - 12 ---------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - Other - - - - - ---------------------------------------------------------- - - - - - ---------------------------------------------------------- Total Stockholders' Equity and Liabilities $ - $ 2 $ 86 $ (4) $ 84 ==========================================================
(6) Includes GPS Newco LLC. GRAYLING GENERATING STATION LP Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG Grayling Inter- Grayling CMSG Grayling Generating company Generating Grayling Holdings Station Elimina- LP Company Company LP tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ 67 $ - $ 67 Less accumulated depreciation, depletion and amortization - - 19 - 19 --------------------------------------------------------- - - 48 - 48 Construction work-in-progress - - - - - --------------------------------------------------------- - - 48 - 48 --------------------------------------------------------- Investments Associated companies - 9 - (9) - Enterprises - (1) 3 (2) - --------------------------------------------------------- - 8 3 (11) - --------------------------------------------------------- Current Assets Cash and temporary cash investments - - 1 - 1 Restricted cash - - - - - Accounts/notes receivable - - - - - Accounts/notes receivable-related parties - 2 3 - 5 Materials and supplies - - 1 - 1 Prepayments and other - - 1 - 1 --------------------------------------------------------- - 2 6 - 8 --------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - Goodwill - - - - - Notes receivable-related parties - - - - - Notes receivable - - - - - Deferred income taxes - (7) - - (7) Other - - 4 - 4 --------------------------------------------------------- - (7) 4 - (3) --------------------------------------------------------- Total Assets $ - $ 3 $ 61 $ (11) $ 53 =========================================================
GRAYLING GENERATING STATION LP Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG Grayling Inter- Grayling CMSG Grayling Generating company Generating Grayling Holdings Station Elimina- LP Company Company LP tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - Other paid-in-capital 4 7 18 (18) 11 Other comprehensive income (loss) - - - - - Retained earnings (deficit) (4) (4) 1 (1) (8) --------------------------------------------------------- - 3 19 (19) 3 Long-term debt - - 35 - 35 Long-term debt-related parties - - - - - Non-current capital leases - - - - - --------------------------------------------------------- - 3 54 (19) 38 --------------------------------------------------------- Minority Interests - - - 8 8 --------------------------------------------------------- Current Liabilities Current portion of long-term debt - - 3 - 3 Current capital leases - - - - - Notes payable - - - - - Accounts payable - - - - - Accounts payable-related parties - - 1 - 1 Accrued interest - - - - - Accrued taxes - - - - - Other - - 1 - 1 --------------------------------------------------------- - - 5 - 5 --------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - Other - - 2 - 2 --------------------------------------------------------- - - 2 - 2 --------------------------------------------------------- Total Stockholders' Equity and Liabilities $ - $ 3 $ 61 $ (11) $ 53 =========================================================
CMS INT'L OPERATING COMPANY Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMS CMS CMS CMS Inter- CMS Int'l UK Jorf Morocco India O&M company Int'l Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating Co. (7) Limited Aktiebolag SCA Limited tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ - $ - Less accumulated depreciation, depletion and amortization - - - - - - - ------------------------------------------------------------------------------- - - - - - - - Construction work-in-progress - - - - - - - ------------------------------------------------------------------------------- - - - - - - - ------------------------------------------------------------------------------- Investments Associated companies 11 8 4 - - (23) - Enterprises - - - - - - - ------------------------------------------------------------------------------- 11 8 4 - - (23) - ------------------------------------------------------------------------------- Current Assets Cash and temporary cash investments 5 - - 1 1 - 7 Restricted cash - - - - - - - Accounts/notes receivable - - - 5 - - 5 Accounts/notes receivable-related parties 13 4 8 - - - 25 Materials and supplies - - - - - - - Prepayments and other - - - 3 1 - 4 ------------------------------------------------------------------------------- 18 4 8 9 2 - 41 ------------------------------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - - - Goodwill - - - - - - - Notes receivable-related parties 4 - - - - - 4 Notes receivable - - - - - - - Deferred income taxes - - - - - - - Other - - - - - - - ------------------------------------------------------------------------------- 4 - - - - - 4 ------------------------------------------------------------------------------- Total Assets $ 33 $ 12 $ 12 $ 9 $ 2 $(23) $ 45 ===============================================================================
(7) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC consolidated. CMS INT'L OPERATING COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMS CMS CMS CMS Inter- CMS Int'l UK Jorf Morocco India O&M company Int'l Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating Co. (7) Limited Aktiebolag SCA Limited tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - $ - Other paid-in-capital 3 9 10 - - (19) 3 Other comprehensive income (loss) - - - - - - - Retained earnings (deficit) 21 (1) 2 4 - (4) 22 ------------------------------------------------------------------------------- 24 8 12 4 - (23) 25 Long-term debt - - - - - - - Long-term debt-related parties - - - - - - - Non-current capital leases - - - - - - - ------------------------------------------------------------------------------- 24 8 12 4 - (23) 25 ------------------------------------------------------------------------------- Minority Interests - - - - - - - ------------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - - Current capital leases - - - - - - - Notes payable 8 4 - - - - 12 Accounts payable - - - - - - - Accounts payable-related parties 1 - - 1 - - 2 Accrued interest - - - - - - - Accrued taxes - - - 3 1 - 4 Other - - - 1 - - 1 ------------------------------------------------------------------------------- 9 4 - 5 1 - 19 ------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - - Other - - - - 1 - 1 ------------------------------------------------------------------------------- - - - - 1 - 1 ------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 33 $ 12 $ 12 $ 9 $ 2 $(23) $ 45 ===============================================================================
(7) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC consolidated. CMSG INVESTMENT COMPANY IV Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG CMSG CMSG Inter- CMSG Investment Luxembourg Investment company Investment Company II SARL Co. II Elimina- Co. IV IV (8) Consol. Consol. tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - Less accumulated depreciation, depletion and amortization - - - - - ----------------------------------------------------------- - - - - - Construction work-in-progress - - - - - ----------------------------------------------------------- - - - - - ----------------------------------------------------------- Investments Associated companies 59 - - (59) - Enterprises 1 246 10 - 257 ----------------------------------------------------------- 60 246 10 (59) 257 ----------------------------------------------------------- Current Assets Cash and temporary cash investments - - - - - Restricted cash - - - - - Accounts/notes receivable - - - - - Accounts/notes receivable-related parties 246 80 35 (311) 50 Materials and supplies - - - - - Prepayments and other - - - - - ----------------------------------------------------------- 246 80 35 (311) 50 ----------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - Goodwill - - - - - Notes receivable-related parties 81 - - - 81 Notes receivable - - - - - Deferred income taxes - - - - - Other - - - - - ----------------------------------------------------------- 81 - - - 81 ----------------------------------------------------------- Total Assets $ 387 $ 326 $ 45 $ (370) $ 388 ===========================================================
(8) Represents CMSG Investment Company IV consolidated with CMSG Luxembourg II SARL and CMSG Investment Company II included on the equity method of accounting. CMSG INVESTMENT COMPANY IV Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG CMSG CMSG Inter- CMSG Investment Luxembourg Investment company Investment Company II SARL Co. II Elimina- Co. IV IV (8) Consol. Consol. tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - Other paid-in-capital 66 - 2 (2) 66 Other comprehensive income (loss) (11) (11) - 11 (11) Retained earnings (deficit) 277 67 1 (68) 277 ------------------------------------------------------------ 332 56 3 (59) 332 Long-term debt 40 - - - 40 Long-term debt-related parties - - - - - Non-current capital leases - - - - - ------------------------------------------------------------ 372 56 3 (59) 372 ------------------------------------------------------------ Minority Interests - - - - - ------------------------------------------------------------ Current Liabilities Current portion of long-term debt - - - - - Current capital leases - - - - - Notes payable 14 260 42 (302) 14 Accounts payable - - - - - Accounts payable-related parties - - - - - Accrued interest 1 9 - (9) 1 Accrued taxes - - - - - Other - - - - - ------------------------------------------------------------ 15 269 42 (311) 15 ------------------------------------------------------------ Non-current Liabilities Postretirement benefits - - - - - Other - 1 - - 1 ------------------------------------------------------------ - 1 - - 1 ------------------------------------------------------------ Total Stockholders' Equity and Liabilities $ 387 $ 326 $ 45 $ (370) $ 388 ============================================================
(8) Represents CMSG Investment Company IV consolidated with CMSG Luxembourg II SARL and CMSG Investment Company II included on the equity method of accounting. CMSG LUXEMBOURG II SARL Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
Jorf Jorf Inter- CMSG CMSG CMSG CMSG Lasfar Lasfar company Luxembourg Luxembourg Luxembourg Netherlands Energlak- Power Energy Elimina- II SARL II SARL SARL BV tiebolag Aktiebolag tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ - $ - Less accumulated depreciation, depletion and amortization - - - - - - - ------------------------------------------------------------------------------- - - - - - - - Construction work-in-progress - - - - - - - ------------------------------------------------------------------------------- - - - - - - - ------------------------------------------------------------------------------- Investments Associated companies 59 59 27 - - (145) - Enterprises - - - 128 118 - 246 ------------------------------------------------------------------------------- 59 59 27 128 118 (145) 246 ------------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - - - - - - - Restricted cash - - - - - - - Accounts/notes receivable - - - - - - - Accounts/notes receivable-related parties - - 32 25 23 - 80 Materials and supplies - - - - - - - Prepayments and other - - - - - - - ------------------------------------------------------------------------------- - - 32 25 23 - 80 ------------------------------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - - - Goodwill - - - - - - - Notes receivable-related parties - - - - - - - Notes receivable - - - - - - - Deferred income taxes - - - - - - - Other - - - - - - - ------------------------------------------------------------------------------- - - - - - - - ------------------------------------------------------------------------------- Total Assets $ 59 $ 59 $ 59 $ 153 $ 141 $ (145) $ 326 ===============================================================================
CMSG LUXEMBOURG II SARL Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
Jorf Jorf Inter- CMSG CMSG CMSG CMSG Lasfar Lasfar company Luxembourg Luxembourg Luxembourg Netherlands Energlak- Power Energy Elimina- II SARL II SARL SARL BV tiebolag Aktiebolag tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - $ - Other paid-in-capital - - - 23 21 (44) - Other comprehensive income (loss) (11) (11) (11) (5) (5) 32 (11) Retained earnings (deficit) 67 70 70 (4) (3) (133) 67 ------------------------------------------------------------------------------- 56 59 59 14 13 (145) 56 Long-term debt - - - - - - - Long-term debt-related parties - - - - - - - Non-current capital leases - - - - - - - ------------------------------------------------------------------------------- 56 59 59 14 13 (145) 56 ------------------------------------------------------------------------------- Minority Interests - - - - - - - ------------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - - Current capital leases - - - - - - - Notes payable 3 - - 134 123 - 260 Accounts payable - - - - - - - Accounts payable-related parties - - - - - - - Accrued interest - - - 5 4 - 9 Accrued taxes - - - - - - - Other - - - - - - - ------------------------------------------------------------------------------- 3 - - 139 127 - 269 ------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - - Other - - - - 1 - 1 ------------------------------------------------------------------------------- - - - - 1 - 1 ------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 59 $ 59 $ 59 $ 153 $ 141 $ (145) $ 326 ===============================================================================
CMSG INVESTMENT CO II Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG CMSG CMSG Inter- CMSG Investment Jorf Jorf Jorf company Investment Company Lasfar Lasfar Lasfar Elimina- Co. II II LDC I LDC II Handelsbolag tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ - Less accumulated depreciation, depletion and amortization - - - - - - ------------------------------------------------------------------------- - - - - - - Construction work-in-progress - - - - - - ------------------------------------------------------------------------- - - - - - - ------------------------------------------------------------------------- Investments Associated companies 2 1 1 - (4) - Enterprises - - - 10 - 10 ------------------------------------------------------------------------- 2 1 1 10 (4) 10 ------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - - - - - - Restricted cash - - - - - - Accounts/notes receivable - - - - - - Accounts/notes receivable-related parties 33 - - 2 - 35 Materials and supplies - - - - - - Prepayments and other - - - - - - ------------------------------------------------------------------------- 33 - - 2 - 35 ------------------------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - - Goodwill - - - - - - Notes receivable-related parties - - - - - - Notes receivable - - - - - - Deferred income taxes - - - - - - Other - - - - - - ------------------------------------------------------------------------- - - - - - - ------------------------------------------------------------------------- Total Assets $ 35 $ 1 $ 1 $ 12 $ (4) $ 45 =========================================================================
CMSG INVESTMENT CO II Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG CMSG CMSG Inter- CMSG Investment Jorf Jorf Jorf company Investment Company Lasfar Lasfar Lasfar Elimina- Co. II II LDC I LDC II Handelsbolag tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - Other paid-in-capital 2 (64) 91 6 (33) 2 Other comprehensive income (loss) - - - (1) 1 - Retained earnings (deficit) 1 65 (90) (3) 28 1 ----------------------------------------------------------------------- 3 1 1 2 (4) 3 Long-term debt - - - - - - Long-term debt-related parties - - - - - - Non-current capital leases - - - - - - ----------------------------------------------------------------------- 3 1 1 2 (4) 3 ----------------------------------------------------------------------- Minority Interests - - - - - - ----------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - Current capital leases - - - - - - Notes payable 32 - - 10 - 42 Accounts payable - - - - - - Accounts payable-related parties - - - - - - Accrued interest - - - - - - Accrued taxes - - - - - - Other - - - - - - ----------------------------------------------------------------------- 32 - - 10 - 42 ----------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - Other - - - - - - ----------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 35 $ 1 $ 1 $ 12 $ (4) $ 45 =======================================================================
CMSG INVESTMENT CO VI Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG CMS Inter- CMSG Investment Takoradi company Investment Company Invest. Co. Elimina- Co. VI VI (9) Consol. tions Consol. Plant and Property (At Cost) Enterprises $ - $ 3 $ - $ 3 Less accumulated depreciation, depletion and amortization - - - - ------------------------------------------------ - 3 - 3 Construction work-in-progress - - - - ------------------------------------------------ - 3 - 3 ------------------------------------------------ Investments Associated companies 109 - (109) - Enterprises - - - - ------------------------------------------------ 109 - (109) - ------------------------------------------------ Current Assets Cash and temporary cash investments - 1 - 1 Restricted cash - - - - Accounts/notes receivable - 18 - 18 Accounts/notes receivable-related parties 1 - - 1 Materials and supplies - 7 - 7 Prepayments and other - 1 - 1 ------------------------------------------------ 1 27 - 28 ------------------------------------------------ Non-current Assets Prepaid pension costs - - - - Goodwill - - - - Notes receivable-related parties 50 - - 50 Notes receivable - 107 - 107 Deferred income taxes - (9) - (9) Other - - - - ------------------------------------------------ 50 98 - 148 ------------------------------------------------ Total Assets $ 160 $ 128 $(109) $ 179 ================================================
(9) Represents CMSG Investment Company VI with CMSG Takoradi Investment Company included on the equity method of accounting. CMSG INVESTMENT CO VI Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG CMS Inter- CMSG Investment Takoradi company Investment Company Invest. Co. Elimina- Co. VI VI (9) Consol. tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - Other paid-in-capital 115 99 (99) 115 Other comprehensive income (loss) - - - - Retained earnings (deficit) 45 10 (10) 45 ------------------------------------------------- 160 109 (109) 160 Long-term debt - - - - Long-term debt-related parties - - - - Non-current capital leases - - - - ------------------------------------------------- 160 109 (109) 160 ------------------------------------------------- Minority Interests - 12 - 12 ------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - Current capital leases - - - - Notes payable - - - - Accounts payable - 2 - 2 Accounts payable-related parties - - - - Accrued interest - - - - Accrued taxes - 4 - 4 Other - 1 - 1 ------------------------------------------------- - 7 - 7 ------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - Other - - - - ------------------------------------------------- - - - - ------------------------------------------------- Total Stockholders' Equity and Liabilities $ 160 $ 128 $(109) $ 179 =================================================
(9) Represents CMSG Investment Company VI with CMSG Takoradi Investment Company included on the equity method of accounting. CMS TAKORADI INVESTMENT CO. Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMS CMS Inter- CMS Takoradi Takoradi Takoradi company Takoradi Investment Investment International Elimina- Invest. Co. Company Company II Company tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ 3 $ - $ 3 Less accumulated depreciation, depletion and amortization - - - - - --------------------------------------------------------------------- - - 3 - 3 Construction work-in-progress - - - - - --------------------------------------------------------------------- - - 3 - 3 --------------------------------------------------------------------- Investments Associated companies 109 109 - (218) - Enterprises - - - - - --------------------------------------------------------------------- 109 109 - (218) - --------------------------------------------------------------------- Current Assets Cash and temporary cash investments - - 1 - 1 Restricted cash - - - - - Accounts/notes receivable - - 18 - 18 Accounts/notes receivable-related parties - - - - - Materials and supplies - - 7 - 7 Prepayments and other - - 1 - 1 --------------------------------------------------------------------- - - 27 - 27 --------------------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - Goodwill - - - - - Notes receivable-related parties - - - - - Notes receivable - - 107 - 107 Deferred income taxes - - (9) - (9) Other - - 95 (95) - --------------------------------------------------------------------- - - 193 (95) 98 --------------------------------------------------------------------- Total Assets $ 109 $ 109 $ 223 $(313) $ 128 =====================================================================
CMS TAKORADI INVESTMENT CO. Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMS CMS Inter- CMS Takoradi Takoradi Takoradi company Takoradi Investment Investment International Elimina- Invest. Co. Company Company II Company tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - Other paid-in-capital 99 99 110 (209) 99 Other comprehensive income (loss) - - - - - Retained earnings (deficit) 10 10 11 (21) 10 --------------------------------------------------------------------- 109 109 121 (230) 109 Long-term debt - - - - - Long-term debt-related parties - - - - - Non-current capital leases - - - - - --------------------------------------------------------------------- 109 109 121 (230) 109 --------------------------------------------------------------------- Minority Interests - - - 12 12 --------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - Current capital leases - - - - - Notes payable - - - - - Accounts payable - - 2 - 2 Accounts payable-related parties - - - - - Accrued interest - - - - - Accrued taxes - - 4 - 4 Other - - 1 - 1 --------------------------------------------------------------------- - - 7 - 7 --------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - Other - - 95 (95) - --------------------------------------------------------------------- - - 95 (95) - --------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 109 $ 109 $ 223 $(313) $ 128 =====================================================================
CMSG INVESTMENT CO VII Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG CMS Inter- CMSG Investment CMSG Jabail company Investment Company Taweelah Investment Elimina- Co. VII VII Limited Company I tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - Less accumulated depreciation, depletion and amortization - - - - - ------------------------------------------------------------------ - - - - - Construction work-in-progress - - - - - ------------------------------------------------------------------ - - - - - ------------------------------------------------------------------ Investments Associated companies 58 - - (58) - Enterprises (26) 60 - - 34 ------------------------------------------------------------------ 32 60 - (58) 34 ------------------------------------------------------------------ Current Assets Cash and temporary cash investments - - - - - Restricted cash - - - - - Accounts/notes receivable - - - - - Accounts/notes receivable-related parties - - - - - Materials and supplies - - - - - Prepayments and other - - - - - ------------------------------------------------------------------ - - - - - ------------------------------------------------------------------ Non-current Assets Prepaid pension costs - - - - - Goodwill - - - - - Notes receivable-related parties - - - - - Notes receivable - - - - - Deferred income taxes - - - - - Other - - - - - ------------------------------------------------------------------ - - - - - ------------------------------------------------------------------ Total Assets $ 32 $ 60 $ - $(58) $ 34 ==================================================================
CMSG INVESTMENT CO VII Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG CMS Inter- CMSG Investment CMSG Jabail company Investment Company Taweelah Investment Elimina- Co. VII VII Limited Company I tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - Other paid-in-capital 12 74 11 (85) 12 Other comprehensive income (loss) (15) 3 - (3) (15) Retained earnings (deficit) (19) (19) (11) 30 (19) ------------------------------------------------------------------- (22) 58 - (58) (22) Long-term debt - - - - - Long-term debt-related parties 54 - - - 54 Non-current capital leases - - - - - ------------------------------------------------------------------- 32 58 - (58) 32 ------------------------------------------------------------------- Minority Interests - - - - - ------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - Current capital leases - - - - - Notes payable - - - - - Accounts payable - - - - - Accounts payable-related parties - - - - - Accrued interest - - - - - Accrued taxes - - - - - Other - - - - - ------------------------------------------------------------------- - - - - - ------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - Other - 2 - - 2 ------------------------------------------------------------------- - 2 - - 2 ------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 32 $ 60 $ - $(58) $ 34 ===================================================================
HYDRA-CO ENTERPRISES, INC. Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG HCE Inter- HYDRA-CO HYDRA-CO Operating CMSG Rockport company Enterprises, Enterprises, Company Stratton Diesel, Elimina- Inc. Inc. (10) II Company Inc. tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ - Less accumulated depreciation, depletion and amortization - - - - - - ---------------------------------------------------------------------------- - - - - - - Construction work-in-progress - - - - - - ---------------------------------------------------------------------------- - - - - - - ---------------------------------------------------------------------------- Investments Associated companies 29 - - - (29) - Enterprises 13 - - 28 - 41 ---------------------------------------------------------------------------- 42 - - 28 (29) 41 ---------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - - - - - - Restricted cash - - - - - - Accounts/notes receivable - - - - - - Accounts/notes receivable-related parties 2 2 - - - 4 Materials and supplies - - - - - - Prepayments and other - - - 1 - 1 ---------------------------------------------------------------------------- 2 2 - 1 - 5 ---------------------------------------------------------------------------- Non-current Assets Prepaid pension costs - 2 - - - 2 Goodwill - 1 - - - 1 Notes receivable-related parties - - - - - - Notes receivable - - - - - - Deferred income taxes 8 (1) 1 (3) - 5 Other - - - - - - ---------------------------------------------------------------------------- 8 2 1 (3) - 8 ---------------------------------------------------------------------------- Total Assets $ 52 $ 4 $ 1 $ 26 $(29) $ 54 ============================================================================
(10) Represents HYDRA-CO Enterprises, Inc., HCE Biopower, Inc., HCO-Jamaica, Inc., HCE Jamaica Development, Inc. and New Bern Energy Recovery, Inc. consolidated. HYDRA-CO ENTERPRISES, INC. Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG HCE Inter- HYDRA-CO HYDRA-CO Operating CMSG Rockport company Enterprises, Enterprises, Company Stratton Diesel, Elimina- Inc. Inc.(10) II Company Inc. tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - Other paid-in-capital 199 3 21 20 (44) 199 Other comprehensive income (loss) - - - - - - Retained earnings (deficit) (156) (1) (20) 6 15 (156) -------------------------------------------------------------------- 43 2 1 26 (29) 43 Long-term debt 1 - - - - 1 Long-term debt-related parties - - - - - - Non-current capital leases - - - - - - -------------------------------------------------------------------- 44 2 1 26 (29) 44 -------------------------------------------------------------------- Minority Interests - - - - - - -------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - Current capital leases - - - - - - Notes payable - - - - - - Accounts payable - - - - - - Accounts payable-related parties - 1 - - - 1 Accrued interest 1 - - - - 1 Accrued taxes 6 1 - - - 7 Other - - - - - - -------------------------------------------------------------------- 7 2 - - - 9 -------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - Other 1 - - - - 1 -------------------------------------------------------------------- 1 - - - - 1 -------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 52 $ 4 $ 1 $ 26 $ (29) $ 54 ====================================================================
(10) Represents HYDRA-CO Enterprises, Inc., HCE Biopower, Inc., HCO-Jamaica, Inc., HCE Jamaica Development, Inc. and New Bern Energy Recovery, Inc. consolidated. CMS GAS TRANSMISSION COMPANY Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMS Gas CMS CMS CMS Panhandle CMS Transmission Energy CMS Gas Saginaw Bay Marysville Eastern Field Company Investment Argentina Lateral Gas Liquids Pipe Line Services (11) LLC Consol. Company Company Company Company Inc. Plant and Property (At Cost) Enterprises $ - $ 118 $ - $ - $ - $ - $ - Other - - - - - - - ----------------------------------------------------------------------------------- - 118 - - - - - Less accumulated depreciation, depletion and amortization - 43 - - - - - ----------------------------------------------------------------------------------- - 75 - - - - - Construction work-in-progress - - - - - - - ----------------------------------------------------------------------------------- - 75 - - - - - ----------------------------------------------------------------------------------- Investments Associated companies 335 - - - - - - Enterprises - - - - - - - ----------------------------------------------------------------------------------- 335 - - - - - - ----------------------------------------------------------------------------------- Current Assets Cash and temporary cash investments (1) 2 1 - - - - Accounts/notes receivable 2 2 - - - - - Accounts/notes receivable-related parties 37 13 - - - - - Gas in underground storage 2 - - - - - - Materials and supplies - 1 - - - - - Assets held for sale 4 - - - - - - Prepayments and other - 1 - - - - - ----------------------------------------------------------------------------------- 44 19 1 - - - - ----------------------------------------------------------------------------------- Non-current Assets Prepaid pension costs (8) 1 - - - - - Notes receivable-related parties 14 - 8 - - - - Notes receivable - 18 - - - - - Deferred income taxes 84 - - - - - - Other 8 - - - - - - ----------------------------------------------------------------------------------- 98 19 8 - - - - ----------------------------------------------------------------------------------- Total Assets $ 477 $ 113 $ 9 $ - $ - $ - $ - ===================================================================================
(Continued on Following Page) CMS GAS TRANSMISSION COMPANY Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- CMS Gas company Transmission Elimina- Company tions Consol. Plant and Property (At Cost) Enterprises $ - $ 118 Other - - ---------------------- - 118 Less accumulated depreciation, depletion and amortization - 43 ---------------------- - 75 Construction work-in-progress - - ---------------------- - 75 ---------------------- Investments Associated companies (85) 250 Enterprises - - ---------------------- (85) 250 ---------------------- Current Assets Cash and temporary cash investments - 2 Accounts/notes receivable - 4 Accounts/notes receivable-related parties - 50 Gas in underground storage - 2 Materials and supplies - 1 Assets held for sale - 4 Prepayments and other - 1 ---------------------- - 64 ---------------------- Non-current Assets Prepaid pension costs - (7) Notes receivable-related parties - 22 Notes receivable - 18 Deferred income taxes 88 172 Other - 8 ---------------------- 88 213 ---------------------- Total Assets $ 3 $ 602 ======================
(11) Represents CMS Gas Transmission Company with CMS Energy Investment LLC included on the equity method of accounting. CMS GAS TRANSMISSION COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMS Gas CMS CMS CMS Panhandle CMS Transmission Energy CMS Gas Saginaw Bay Marysville Eastern Field Company Investment Argentina Lateral Gas Liquids Pipe Line Services (11) LLC Consol. Company Company Company (12) Company (12) Inc. (12) Capitalization Common Stockholders' Equity Common stock $ - $ - $ 4 $ - $ - $ - $ - Other paid-in-capital 1,333 222 165 8 - - - Other comprehensive income (loss) (251) (145) (212) - - - - Retained earnings (deficit) (672) - 51 (8) - - - ----------------------------------------------------------------------------------- 410 77 8 - - - - Preferred stock - 11 - - - - - Long-term debt - 2 - - - - - Non-current capital leases - - - - - - - ----------------------------------------------------------------------------------- 410 90 8 - - - - ----------------------------------------------------------------------------------- Minority Interests - 3 - - - - - ----------------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - - Current capital leases - - - - - - - Notes payable 2 - - - - - - Accounts payable 2 1 - - - - - Accounts payable-related parties 1 3 1 - - - - Accrued interest - - - - - - - Accrued taxes 29 - - - - - - Other 14 - - - - - - ----------------------------------------------------------------------------------- 48 4 1 - - - - ----------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits 17 - - - - - - Asset retirement obligation - 1 - - - - - Other 2 15 - - - - - ----------------------------------------------------------------------------------- 19 16 - - - - - ----------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 477 $ 113 $ 9 $ - $ - $ - $ - ===================================================================================
(Continued on Following Page) CMS GAS TRANSMISSION COMPANY Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- CMS Gas company Transmission Elimina- Company tions Consol. Capitalization Common Stockholders' Equity Common stock $ (4) $ - Other paid-in-capital (395) 1,333 Other comprehensive income (loss) 357 (251) Retained earnings (deficit) (43) (672) ------------------------- (85) 410 Preferred stock - 11 Long-term debt - 2 Non-current capital leases - - ------------------------- (85) 423 ------------------------- Minority Interests - 3 ------------------------- Current Liabilities Current portion of long-term debt - - Current capital leases - - Notes payable - 2 Accounts payable - 3 Accounts payable-related parties - 5 Accrued interest - - Accrued taxes 88 117 Other - 14 ------------------------- 88 141 ------------------------- Non-current Liabilities Postretirement benefits - 17 Asset retirement obligation - 1 Other - 17 ------------------------- - 35 ------------------------- Total Stockholders' Equity and Liabilities $ 3 $ 602 =========================
(11) Represents CMS Gas Transmission Company with CMS Energy Investment LLC included on the equity method of accounting. (12) Sold in 2003. Generated partial year earnings (see Consolidating Statement of Income). CMS ENERGY INVESTMENT LLC Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMS Loy Yang CMSG CMS CMS CMS Energy Holdings Investment Antrim Grand Bay Area CMS Investment No. 1-4 Company I Gas Lacs Pipeline Jackson LLC (13) LLC Consol. LLC LLC LLC LLC Plant and Property (At Cost) Enterprises $ - $ - $ - $55 $29 $24 $10 Other - - - - - - - ------------------------------------------------------------------------ - - - 55 29 24 10 Less accumulated depreciation, depletion and amortization - - - 23 12 5 3 ------------------------------------------------------------------------ - - - 32 17 19 7 Construction work-in-progress - - - - - - - ------------------------------------------------------------------------ - - - 32 17 19 7 ------------------------------------------------------------------------ Investments Associated companies 88 12 - - - - - Enterprises - - - - - - - ------------------------------------------------------------------------ 88 12 - - - - - ------------------------------------------------------------------------ Current Assets Cash and temporary cash investments 1 - - - - - 1 Accounts/notes receivable - - - 1 - - - Accounts/notes receivable-related parties - - 12 1 - 1 - Gas in underground storage - - - - - - - Materials and supplies - - - 1 - - - Assets held for sale - - - - - - - Prepayments and other - - - - 1 - - ------------------------------------------------------------------------ 1 - 12 3 1 1 1 ------------------------------------------------------------------------ Non-current Assets Prepaid pension costs - - - 1 - - - Notes receivable-related parties - - - - - - - Notes receivable - - - - - - - Deferred income taxes - - - - - - - Other - - - - - - - ------------------------------------------------------------------------ - - - 1 - - - ------------------------------------------------------------------------ Total Assets $89 $12 $12 $36 $18 $20 $ 8 ========================================================================
(Continued on Following Page) CMS ENERGY INVESTMENT LLC Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- CMS CMS company Energy Litchfield Elimina- Investment LLC tions LLC Consol. Plant and Property (At Cost) Enterprises $ - $ - $ 118 Other - - - ----------------------------------- - - 118 Less accumulated depreciation, depletion and amortization - - 43 ----------------------------------- - - 75 Construction work-in-progress - - - ----------------------------------- - - 75 ----------------------------------- Investments Associated companies - (100) - Enterprises - - - ----------------------------------- - (100) - ----------------------------------- Current Assets Cash and temporary cash investments - - 2 Accounts/notes receivable 1 - 2 Accounts/notes receivable-related parties - (1) 13 Gas in underground storage - - - Materials and supplies - - 1 Assets held for sale - - - Prepayments and other - - 1 ----------------------------------- 1 (1) 19 ----------------------------------- Non-current Assets Prepaid pension costs - - 1 Notes receivable-related parties - - - Notes receivable 18 - 18 Deferred income taxes - - - Other - - - ----------------------------------- 18 - 19 ----------------------------------- Total Assets $ 19 $(101) $ 113 ===================================
(13) Represents CMS Energy Investment LLC with CMSG Investment Company I included on the equity method of accounting. CMS ENERGY INVESTMENT LLC Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMS Loy Yang CMSG CMS CMS CMS Energy Holdings Investment Antrim Grand Bay Area CMS Investment No. 1-4 Company I Gas Lacs Pipeline Jackson LLC (13) LLC Consol. LLC LLC LLC LLC Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - $ - Other paid-in-capital 222 180 340 33 32 27 5 Other comprehensive income (loss) (145) (168) (169) - - - - Retained earnings (deficit) - - (159) - (14) (8) (1) ----------------------------------------------------------------------------------- 77 12 12 33 18 19 4 Preferred stock 11 - - - - - - Long-term debt - - - - - - 2 Non-current capital leases - - - - - - - ----------------------------------------------------------------------------------- 88 12 12 33 18 19 6 ----------------------------------------------------------------------------------- Minority Interests - - - - - - 1 ----------------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - - Current capital leases - - - - - - - Notes payable 1 - - - - - - Accounts payable - - - 1 - - - Accounts payable-related parties - - - 1 - 1 1 Accrued interest - - - - - - - Accrued taxes - - - - - - - Other - - - - - - - ----------------------------------------------------------------------------------- 1 - - 2 - 1 1 ----------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - - Asset retirement obligation - - - 1 - - - Other - - - - - - - ----------------------------------------------------------------------------------- - - - 1 - - - ----------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 89 $ 12 $ 12 $ 36 $ 18 $ 20 $ 8 ===================================================================================
(Continued on Following Page) CMS ENERGY INVESTMENT LLC Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- CMS CMS company Energy Litchfield Elimina- Investment LLC tions LLC Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - Other paid-in-capital 4 (621) 222 Other comprehensive income (loss) - 337 (145) Retained earnings (deficit) - 182 - ----------------------------------- 4 (102) 77 Preferred stock - - 11 Long-term debt - - 2 Non-current capital leases - - - ----------------------------------- 4 (102) 90 ----------------------------------- Minority Interests - 2 3 ----------------------------------- Current Liabilities Current portion of long-term debt - - - Current capital leases - - - Notes payable - (1) - Accounts payable - - 1 Accounts payable-related parties - - 3 Accrued interest - - - Accrued taxes - - - Other - - - ----------------------------------- - (1) 4 ----------------------------------- Non-current Liabilities Postretirement benefits - - - Asset retirement obligation - - 1 Other 15 - 15 ----------------------------------- 15 - 16 ----------------------------------- Total Stockholders' Equity and Liabilities $ 19 $(101) $ 113 ===================================
(13) Represents CMS Energy Investment LLC with CMSG Investment Company I included on the equity method of accounting. CMSG INVESTMENT COMPANY I Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG CMSG Inter- CMSG Investment Loy Yang company Investment Company Holdings 1-2 Elimina- Company I I (14) ltd. Consol. tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - Other - - - - ------------------------------------------------- - - - - Less accumulated depreciation, depletion and amortization - - - - ------------------------------------------------- - - - - Construction work-in-progress - - - - ------------------------------------------------- - - - - ------------------------------------------------- Investments Associated companies (288) - 288 - Enterprises - - - - ------------------------------------------------- (288) - 288 - ------------------------------------------------- Current Assets Cash and temporary cash investments - - - - Accounts/notes receivable - - - - Accounts/notes receivable-related parties 300 11 (299) 12 Gas in underground storage - - - - Materials and supplies - - - - Assets held for sale - - - - Prepayments and other - - - - ------------------------------------------------- 300 11 (299) 12 ------------------------------------------------- Non-current Assets Prepaid pension costs - - - - Notes receivable-related parties - - - - Notes receivable - - - - Deferred income taxes - - - - Other - - - - ------------------------------------------------- - - - - ------------------------------------------------- Total Assets $ 12 $ 11 $ (11) $ 12 =================================================
(14) Represents CMSG Investment Company I with CMSG Loy Yang Holdings 1 and 2 Ltd. included on the equity method of accounting. CMSG INVESTMENT COMPANY I Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG CMSG Inter- CMSG Investment Loy Yang company Investment Company Holdings 1-2 Elimina- Company I I (14) ltd. Consol. tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - Other paid-in-capital 340 300 (300) 340 Other comprehensive income (loss) (169) (152) 152 (169) Retained earnings (deficit) (159) (436) 436 (159) ------------------------------------------------- 12 (288) 288 12 Preferred stock - - - - Long-term debt - - - - Non-current capital leases - - - - ------------------------------------------------- 12 (288) 288 12 ------------------------------------------------- Minority Interests - - - - ------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - Current capital leases - - - - Notes payable - 299 (299) - Accounts payable - - - - Accounts payable-related parties - - - - Accrued interest - - - - Accrued taxes - - - - Other - - - - ------------------------------------------------- - 299 (299) - ------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - Asset retirement obligation - - - - Other - - - - ------------------------------------------------- - - - - ------------------------------------------------- Total Stockholders' Equity and Liabilities $ 12 $ 11 $ (11) $ 12 =================================================
(14) Represents CMSG Investment Company I with CMSG Loy Yang Holdings 1 and 2 Ltd. included on the equity method of accounting. CMSG LOY YANG HOLD 1-2 LTD. Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG Horizon CMSG CMSG Inter- CMSG Loy Yang Energy Loy Yang Horizon company Loy Yang Holdings Holdings Holdings Energy Elimina- Holdings 1-2 1 Ltd. Ltd. 2 Ltd. Holding Ltd. tions ltd. Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ - Other - - - - - - -------------------------------------------------------------------------- - - - - - - Less accumulated depreciation, depletion and amortization - - - - - - -------------------------------------------------------------------------- - - - - - - Construction work-in-progress - - - - - - -------------------------------------------------------------------------- - - - - - - -------------------------------------------------------------------------- Investments Associated companies (149) - (139) - 288 - Enterprises - - - - - - -------------------------------------------------------------------------- (149) - (139) - 288 - -------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - - - - - - Accounts/notes receivable - - - - - - Accounts/notes receivable-related parties - - - 11 - 11 Gas in underground storage - - - - - - Materials and supplies - - - - - - Assets held for sale - - - - - - Prepayments and other - - - - - - -------------------------------------------------------------------------- - - - 11 - 11 -------------------------------------------------------------------------- Non-current Assets Prepaid pension costs - - - - - - Notes receivable-related parties - - - - - - Notes receivable - - - - - - Deferred income taxes - - - - - - Other - - - - - - -------------------------------------------------------------------------- - - - - - - -------------------------------------------------------------------------- Total Assets $(149) $ - $(139) $ 11 $ 288 $ 11 ===========================================================================
CMSG LOY YANG HOLD 1-2 LTD. Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG Horizon CMSG CMSG Inter- CMSG Loy Yang Energy Loy Yang Horizon company Loy Yang Holdings Holdings Holdings Energy Elimina- Holdings 1-2 1 Ltd. Ltd. 2 Ltd. Holding Ltd. tions ltd. Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - Other paid-in-capital 143 143 157 157 (300) 300 Other comprehensive income (loss) (76) (76) (76) (76) 152 (152) Retained earnings (deficit) (216) (216) (220) (220) 436 (436) ---------------------------------------------------------------------------- (149) (149) (139) (139) 288 (288) Preferred stock - - - - - - Long-term debt - - - - - - Non-current capital leases - - - - - - ---------------------------------------------------------------------------- (149) (149) (139) (139) 288 (288) ---------------------------------------------------------------------------- Minority Interests - - - - - - ---------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - Current capital leases - - - - - - Notes payable - 149 - 150 - 299 Accounts payable - - - - - - Accounts payable-related parties - - - - - - Accrued interest - - - - - - Accrued taxes - - - - - - Other - - - - - - ---------------------------------------------------------------------------- - 149 - 150 - 299 ---------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - Asset retirement obligation - - - - - - Other - - - - - - ---------------------------------------------------------------------------- - - - - - - ---------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $(149) $ - $(139) $ 11 $ 288 $ 11 ============================================================================
CMS INT'L VENTURES LLC Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMS CMSG CMS Western CMS Operating Invest. Electric & Gas Australia CMSG Int'l Ventures SRL Co. III LLC GT Co. I Invest. LLC (15) Consol. Consol. Consol. Consol. Co. V Plant and Property (At Cost) Enterprises $ - $ 109 $ - $ 241 $ - $ - Other - - - - - - ----------------------------------------------------------------------------- - 109 - 241 - - Less accumulated depreciation, depletion and amortization - 35 - 200 - - ----------------------------------------------------------------------------- - 74 - 41 - - Construction work-in-progress - - - 13 - - ----------------------------------------------------------------------------- - 74 - 54 - - ----------------------------------------------------------------------------- Investments Associated companies 641 - - - - 63 Enterprises - 8 71 14 248 23 ----------------------------------------------------------------------------- 641 8 71 14 248 86 ----------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - 21 4 13 6 - Accounts/notes receivable - 19 1 28 - - Accounts/notes receivable-related parties 38 - 8 5 1 5 Materials and supplies - 6 - 6 - - Assets held for sale - - - - 13 - Prepayments and other - 1 1 16 - - ----------------------------------------------------------------------------- 38 47 14 68 20 5 ----------------------------------------------------------------------------- Non-current Assets Assets held for sale - - - - 2 - Prepaid pension costs - - - - - - Goodwill - - 5 19 - - Notes receivable-related parties 19 - 7 - 60 - Notes receivable - - - - - - Deferred income taxes - (8) - 14 (5) - Other - 21 2 7 1 - ----------------------------------------------------------------------------- 19 13 14 40 58 - ----------------------------------------------------------------------------- Total Assets $ 698 $ 142 $ 99 $ 176 $ 326 $ 91 =============================================================================
(Continued on Following Page) CMS INT'L VENTURES LLC Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
CMS Inter- CMS Int'l Int'l Ventures company Ventures LLC Elimina- LLC Branch tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ 350 Other - - - ------------------------------------- - - 350 Less accumulated depreciation, depletion and amortization - - 235 ------------------------------------- - - 115 Construction work-in-progress - - 13 ------------------------------------- - - 128 ------------------------------------- Investments Associated companies - (704) - Enterprises - - 364 ------------------------------------- - (704) 364 ------------------------------------- Current Assets Cash and temporary cash investments - - 44 Accounts/notes receivable - - 48 Accounts/notes receivable-related parties - (29) 28 Materials and supplies - - 12 Assets held for sale - - 13 Prepayments and other - - 18 ------------------------------------- - (29) 163 ------------------------------------- Non-current Assets Assets held for sale - - 2 Prepaid pension costs - - - Goodwill - - 24 Notes receivable-related parties - - 86 Notes receivable - - - Deferred income taxes - - 1 Other 42 - 73 ------------------------------------- 42 - 186 ------------------------------------- Total Assets $ 42 $(733) $ 841 =====================================
(15) Represents CMS International Ventures LLC and CMS Generation SRL consolidated with CMS Operating SRL, CMSG Investment Company III, CMS Electric & Gas LLC and Western Australia GT Company I included on the equity method of accounting. CMS INT'L VENTURES LLC Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMS CMSG CMS Western CMS Operating Invest. Electric & Gas Australia CMSG CMS Int'l Ventures SRL Co. III LLC GT Co. I Invest. Generation LLC (15) Consol. Consol. Consol. Consol. Co. V SRL Capitalization Common Stockholders' Equity Common stock $ - $ 35 $ - $ - $ 236 $ - $ - Other paid-in-capital 945 213 80 458 5 84 42 Other comprehensive income (loss) (270) (173) (4) (92) 10 - (11) Retained earnings (deficit) 2 (3) 16 (258) (15) 7 (31) ----------------------------------------------------------------------------------- 677 72 92 108 236 91 - Long-term debt - 33 - 4 - - - Long-term debt-related parties 18 - - - - - - Non-current capital leases - - - - - - - ----------------------------------------------------------------------------------- 695 105 92 112 236 91 - ----------------------------------------------------------------------------------- Minority Interests - - - 13 63 - - ----------------------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - 6 - 3 - - - Current capital leases - - - - - - - Notes payable - - 7 - 20 - - Accounts payable 1 12 - 14 1 - - Accounts payable-related parties - 9 - 1 - - - Accrued interest - 1 - - - - - Accrued taxes - 4 - 14 3 - - Liabilities held for sale - - - - 2 - - Other - 1 - 3 1 - - ----------------------------------------------------------------------------------- 1 33 7 35 27 - - ----------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits 2 - - 2 - - - Other - 4 - 14 - - - ----------------------------------------------------------------------------------- 2 4 - 16 - - - ----------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 698 $ 142 $ 99 $ 176 $ 326 $ 91 $ - ===================================================================================
(Continued on Following Page) CMS INT'L VENTURES LLC Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
CMS Inter- CMS Int'l Int'l Ventures company Ventures LLC Elimina- LLC Branch tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $(271) $ - Other paid-in-capital 45 (927) 945 Other comprehensive income (loss) - 270 (270) Retained earnings (deficit) (3) 287 2 ---------------------------------------- 42 (641) 677 Long-term debt - - 37 Long-term debt-related parties - - 18 Non-current capital leases - - - ---------------------------------------- 42 (641) 732 ---------------------------------------- Minority Interests - (63) 13 ---------------------------------------- Current Liabilities Current portion of long-term debt - - 9 Current capital leases - - - Notes payable - (19) 8 Accounts payable - - 28 Accounts payable-related parties - (10) - Accrued interest - - 1 Accrued taxes - - 21 Liabilities held for sale - - 2 Other - - 5 ---------------------------------------- - (29) 74 ---------------------------------------- Non-current Liabilities Postretirement benefits - - 4 Other - - 18 ---------------------------------------- - - 22 ---------------------------------------- Total Stockholders' Equity and Liabilities $ 42 $(733) $ 841 ========================================
(15) Represents CMS International Ventures LLC with CMS Operating SRL, CMSG Investment Company III, CMS Electric & Gas LLC and Western Australia GT Company I included on the equity method of accounting. CMS OPERATING SRL Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
Inter- CMS Centrales CMS Company CMS Operating Termicas Ensenada Elimina- Operating SRL (16) Mendoza SA SA tions SRL Consol. Plant and Property (At Cost) Enterprises $ 1 $ 76 $ 32 $ - $ 109 Other - - - - - -------------------------------------------------------------- 1 76 32 - 109 Less accumulated depreciation, depletion and amortization - 25 10 - 35 -------------------------------------------------------------- 1 51 22 - 74 Construction work-in-progress - - - - - -------------------------------------------------------------- 1 51 22 - 74 -------------------------------------------------------------- Investments Associated companies 47 - - (47) - Enterprises 8 - - - 8 -------------------------------------------------------------- 55 - - (47) 8 -------------------------------------------------------------- Current Assets Cash and temporary cash investments 9 11 1 - 21 Accounts/notes receivable 1 12 6 - 19 Accounts/notes receivable-related parties - - - - - Materials and supplies - 5 1 - 6 Assets held for sale - - - - - Prepayments and other - 1 - - 1 -------------------------------------------------------------- 10 29 8 - 47 -------------------------------------------------------------- Non-current Assets Assets held for sale - - - - - Prepaid pension costs - - - - - Goodwill - - - - - Notes receivable-related parties - - - - - Notes receivable - - - - - Deferred income taxes 1 (7) (2) - (8) Other 21 - - - 21 -------------------------------------------------------------- 22 (7) (2) - 13 -------------------------------------------------------------- Total Assets $ 88 $ 73 $ 28 $ (47) $ 142 ==============================================================
(16) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated. CMS OPERATING SRL Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
Inter- CMS Centrales CMS Company CMS Operating Termicas Ensenada Elimina- Operating SRL (16) Mendoza SA SA tions SRL Consol. Capitalization Common Stockholders' Equity Common stock $ 35 $ 36 $ - $ (36) $ 35 Other paid-in-capital 213 139 39 (178) 213 Other comprehensive income (loss) (173) (116) (54) 170 (173) Retained earnings (deficit) (3) 3 - (3) (3) --------------------------------------------------------------- 72 62 (15) (47) 72 Long-term debt - - 33 - 33 Long-term debt-related parties - - - - - Non-current capital leases - - - - - --------------------------------------------------------------- 72 62 18 (47) 105 --------------------------------------------------------------- Minority Interests - - - - - --------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - 6 - 6 Current capital leases - - - - - Notes payable - - - - - Accounts payable 1 9 2 - 12 Accounts payable-related parties 9 - - - 9 Accrued interest - - 1 - 1 Accrued taxes 1 2 1 - 4 Liabilities held for sale - - - - - Other 1 - - - 1 --------------------------------------------------------------- 12 11 10 - 33 --------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - Other 4 - - - 4 --------------------------------------------------------------- 4 - - - 4 --------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 88 $ 73 $ 28 $ (47) $ 142 ===============================================================
(16) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated. CMSG INVESTMENT COMPANY III Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMSG CMSG Jegurupadu Inter- CMSG Investment Jegurupadu CMSG CMSG Company Investment Company O&M Co. Company Neyveli Elimina- Co. III III (17) Mauritius Limited Limited tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ - Other - - - - - - ---------------------------------------------------------------------- - - - - - - Less accumulated depreciation, depletion and amortization - - - - - - ---------------------------------------------------------------------- - - - - - - Construction work-in-progress - - - - - - ---------------------------------------------------------------------- - - - - - - ---------------------------------------------------------------------- Investments Associated companies 82 - - - (82) - Enterprises - 5 18 48 - 71 ---------------------------------------------------------------------- 82 5 18 48 (82) 71 ---------------------------------------------------------------------- Current Assets Cash and temporary cash investments - 1 3 - - 4 Accounts/notes receivable - 1 - - - 1 Accounts/notes receivable-related parties 5 2 1 - - 8 Materials and supplies - - - - - - Assets held for sale - - - - - - Prepayments and other 3 - (2) - - 1 ---------------------------------------------------------------------- 8 4 2 - - 14 ---------------------------------------------------------------------- Non-current Assets Assets held for sale - - - - - - Prepaid pension costs - - - - - - Goodwill - - 5 - - 5 Notes receivable-related parties - - 7 - - 7 Notes receivable - - - - - - Deferred income taxes - - - - - - Other 2 - - - - 2 ---------------------------------------------------------------------- 2 - 12 - - 14 ---------------------------------------------------------------------- Total Assets $ 92 $ 9 $ 32 $ 48 $(82) $ 99 ======================================================================
(17) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated. CMSG INVESTMENT COMPANY III Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMSG CMSG Jegurupadu Inter- CMSG Investment Jegurupadu CMSG CMSG Company Investment Company O&M Co. Company Neyveli Elimina- Co. III III (17) Mauritius Limited Limited tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - Other paid-in-capital 80 1 31 46 (78) 80 Other comprehensive income (loss) (4) - (5) 1 4 (4) Retained earnings (deficit) 16 1 6 1 (8) 16 ---------------------------------------------------------------------- 92 2 32 48 (82) 92 Long-term debt - - - - - - Long-term debt-related parties - - - - - - Non-current capital leases - - - - - - ---------------------------------------------------------------------- 92 2 32 48 (82) 92 ---------------------------------------------------------------------- Minority Interests - - - - - - ---------------------------------------------------------------------- Current Liabilities Current portion of long-term debt - - - - - - Current capital leases - - - - - - Notes payable - 7 - - - 7 Accounts payable - - - - - - Accounts payable-related parties - - - - - - Accrued interest - - - - - - Accrued taxes - - - - - - Liabilities held for sale - - - - - - Other - - - - - - ---------------------------------------------------------------------- - 7 - - - 7 ---------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - - - - - - Other - - - - - - ---------------------------------------------------------------------- - - - - - - ---------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 92 $ 9 $ 32 $ 48 $(82) $ 99 ======================================================================
(17) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated. CMS ELECTRIC & GAS LLC Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
CMS Sistema Companhia Inter- CMS Electric Electrico del CMS CMS CMS Paulista Company Electric & & Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC LLC (18) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol. Plant and Property (At Cost) Enterprises $ 1 $ 179 $ - $ 1 $ - $ 60 $ - $ 241 Other - - - - - - - - ------------------------------------------------------------------------------------------------- 1 179 - 1 - 60 - 241 Less accumulated depreciation, depletion and amortization 1 176 - - 1 22 - 200 ------------------------------------------------------------------------------------------------- - 3 - 1 (1) 38 - 41 Construction work-in-progress - 8 - - - 5 - 13 ------------------------------------------------------------------------------------------------- - 11 - 1 (1) 43 - 54 ------------------------------------------------------------------------------------------------- Investments Associated companies 69 - 16 - - - (85) - Enterprises - - - - - 14 - 14 ------------------------------------------------------------------------------------------------- 69 - 16 - - 14 (85) 14 ------------------------------------------------------------------------------------------------- Current Assets Cash and temporary cash - 7 - - - 6 - 13 investments Accounts/notes receivable (3) 13 (1) - 1 18 - 28 Accounts/notes receivable- 32 - 2 - - - (29) 5 related parties Materials and supplies - 6 - - - - - 6 Assets held for sale - - - - - - - - Prepayments and other (1) 1 - 1 - 15 - 16 ------------------------------------------------------------------------------------------------- 28 27 1 1 1 39 (29) 68 ------------------------------------------------------------------------------------------------- Non-current Assets Assets held for sale - - - - - - - - Prepaid pension costs - - - - - - - - Goodwill - - - (16) 32 3 - 19 Notes receivable-related - - - - - - - - parties Notes receivable - - - - - - - - Deferred income taxes 11 - - - - (1) 4 14 Other - 5 - - - 1 1 7 ------------------------------------------------------------------------------------------------- 11 5 - (16) 32 3 5 40 ------------------------------------------------------------------------------------------------- Total Assets $ 108 $ 43 $ 17 $ (14) $ 32 $ 99 $(109) $ 176 =================================================================================================
(18) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de Energia Ltda. consolidated. CMS ELECTRIC & GAS LLC Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
CMS Sistema Companhia Inter- CMS Electric Electrico del CMS CMS CMS Paulista Company Electric & & Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC LLC (18) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol. Capitalization Common Stockholders' Equity Common stock $ - $ - $ - $ - $ - $ - $ - $ - Other paid-in-capital 458 63 94 9 136 43 (345) 458 Other comprehensive income (92) - - (41) (25) (25) 91 (92) (loss) Retained earnings (deficit) (258) (55) (81) (7) (83) 40 186 (258) ------------------------------------------------------------------------------------------------- 108 8 13 (39) 28 58 (68) 108 Long-term debt - - - - - 4 - 4 Long-term debt-related - - - - - - - - parties Non-current capital leases - - - - - - - - ------------------------------------------------------------------------------------------------- 108 8 13 (39) 28 62 (68) 112 ------------------------------------------------------------------------------------------------- Minority Interests - 20 - - 4 6 (17) 13 ------------------------------------------------------------------------------------------------- Current Liabilities Current portion of - - - - - 3 - 3 long-term debt Current capital leases - - - - - - - - Notes payable - - - - - - - - Accounts payable - 6 1 - - 7 - 14 Accounts payable-related - 5 - 24 - - (28) 1 parties Accrued interest - - - - - - - - Accrued taxes - 1 3 - - 6 4 14 Liabilities held for sale - - - - - - - - Other - 1 - - - 2 - 3 ------------------------------------------------------------------------------------------------- - 13 4 24 - 18 (24) 35 ------------------------------------------------------------------------------------------------- Non-current Liabilities Postretirement benefits - 2 - - - - - 2 Other - - - 1 - 13 - 14 ------------------------------------------------------------------------------------------------- - 2 - 1 - 13 - 16 ------------------------------------------------------------------------------------------------- Total Stockholders' Equity and Liabilities $ 108 $ 43 $ 17 $ (14) $ 32 $ 99 $(109) $ 176 =================================================================================================
(18) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de Energia Ltda. consolidated. WESTERN AUSTRALIA GT CO I Consolidating Balance Sheet - Assets December 31, 2003 (In Millions)
Western CMS CMS Compania de Australia CMS Goldfields International Inversiones GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy I (19) SARL BV PTY LTD Svcs. Co. Chile Ltda Plant and Property (At Cost) Enterprises $ - $ - $ - $ - $ - $ - Other - - - - - - ---------------------------------------------------------------------------- - - - - - - Less accumulated depreciation, depletion and amortization - - - - - - ---------------------------------------------------------------------------- - - - - - - Construction work-in-progress - - - - - - ---------------------------------------------------------------------------- - - - - - - ---------------------------------------------------------------------------- Investments Associated companies 180 29 94 - - - Enterprises - - - 89 - 159 ---------------------------------------------------------------------------- 180 29 94 89 - 159 ---------------------------------------------------------------------------- Current Assets Cash and temporary cash investments - - - 6 - - Accounts/notes receivable - - - - - - Accounts/notes receivable-related parties 16 - 1 - 64 - Materials and supplies - - - - - - Assets held for sale - - - - - - Prepayments and other - - - - - - ---------------------------------------------------------------------------- 16 - 1 6 64 - ---------------------------------------------------------------------------- Non-current Assets Assets held for sale - - - - - - Prepaid pension costs - - - - - - Goodwill - - - - - - Notes receivable-related parties 60 - - - - - Notes receivable - - - - - - Deferred income taxes - - - - - - Other - - - - - 1 ---------------------------------------------------------------------------- 60 - - - - 1 ---------------------------------------------------------------------------- Total Assets $256 $ 29 $ 95 $ 95 $ 64 $160 ============================================================================
(Continued on Following Page) WESTERN AUSTRALIA GT CO I Consolidating Balance Sheet - Assets December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- Western CMS GT company Australia of Elimina- GT Co. I Australia tions Consol. Plant and Property (At Cost) Enterprises $ - $ - $ - Other - - - --------------------------------------- - - - Less accumulated depreciation, depletion and amortization - - - --------------------------------------- - - - Construction work-in-progress - - - --------------------------------------- - - - --------------------------------------- Investments Associated companies - (303) - Enterprises - - 248 --------------------------------------- - (303) 248 --------------------------------------- Current Assets Cash and temporary cash investments - - 6 Accounts/notes receivable - - - Accounts/notes receivable-related parties - (80) 1 Materials and supplies - - - Assets held for sale 13 - 13 Prepayments and other - - - --------------------------------------- 13 (80) 20 --------------------------------------- Non-current Assets Assets held for sale 2 - 2 Prepaid pension costs - - - Goodwill - - - Notes receivable-related parties - - 60 Notes receivable - - - Deferred income taxes (5) - (5) Other - - 1 --------------------------------------- (3) - 58 --------------------------------------- Total Assets $ 10 $(383) $ 326 =======================================
(19) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS GT of Australia Holdings Company consolidated. WESTERN AUSTRALIA GT CO I Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions)
Western CMS CMS Compania de Australia CMS Goldfields International Inversiones GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy I (19) SARL BV PTY LTD Svcs. Co. Chile Ltda Capitalization Common Stockholders' Equity Common stock $ 236 $ 1 $ 11 $ - $ 55 $ - Other paid-in-capital 5 - - 66 - 163 Other comprehensive income (loss) 10 13 14 13 - - Retained earnings (deficit) (15) - 4 14 9 (4) ------------------------------------------------------------------------------ 236 14 29 93 64 159 Long-term debt - - - - - - Long-term debt-related parties - - - - - - Non-current capital leases - - - - - - ------------------------------------------------------------------------------ 236 14 29 93 64 159 ------------------------------------------------------------------------------ Minority Interests - - - - - - ------------------------------------------------------------------------------ Current Liabilities Current portion of long-term debt - - - - - - Current capital leases - - - - - - Notes payable 20 15 64 1 - - Accounts payable - - - 1 - - Accounts payable-related parties - - - - - - Accrued interest - - - - - - Accrued taxes - - 2 - - - Liabilities held for sale - - - - - - Other - - - - - 1 ------------------------------------------------------------------------------ 20 15 66 2 - 1 ------------------------------------------------------------------------------ Non-current Liabilities Postretirement benefits - - - - - - Other - - - - - - ------------------------------------------------------------------------------ - - - - - - ------------------------------------------------------------------------------ Total Stockholders' Equity and Liabilities $ 256 $ 29 $ 95 $ 95 $ 64 $ 160 ==============================================================================
(Continued on Following Page) WESTERN AUSTRALIA GT CO I Consolidating Balance Sheet - Equity and Liabilities December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- Western CMS GT company Australia of Elimina- GT Co. I Australia tions Consol. Capitalization Common Stockholders' Equity Common stock $ 67 $(134) $ 236 Other paid-in-capital (18) (211) 5 Other comprehensive income (loss) (3) (37) 10 Retained earnings (deficit) (39) 16 (15) --------------------------------------- 7 (366) 236 Long-term debt - - - Long-term debt-related parties - - - Non-current capital leases - - - --------------------------------------- 7 (366) 236 --------------------------------------- Minority Interests - 63 63 --------------------------------------- Current Liabilities Current portion of long-term debt - - - Current capital leases - - - Notes payable - (80) 20 Accounts payable - - 1 Accounts payable-related parties - - - Accrued interest - - - Accrued taxes 1 - 3 Liabilities held for sale 2 - 2 Other - - 1 --------------------------------------- 3 (80) 27 --------------------------------------- Non-current Liabilities Postretirement benefits - - - Other - - - --------------------------------------- - - - --------------------------------------- Total Stockholders' Equity and Liabilities $ 10 $(383) $ 326 =======================================
(19) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS GT of Australia Holdings Company consolidated. CMS ENERGY CORPORATION Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
Consumers CMS Inter- CMS Energy Enterprises company Energy CMS Energy Company Company Elimina- Corporation Corp. (1) Consol. Consol. tions Consol. Balance at January 1, 2003 $(1,806) $ 545 $(2,366) $ 1,827 $(1,800) Net Income (Loss) (27) 196 4 (204) (31) Less Dividends Paid Common Stock - - - - - Preferred Stock 1 2 - - 3 Preferred Securities Distributions 10 - - - 10 Associated Companies - 218 133 (351) - -------------------------------------------------------------------------------- 11 220 133 (351) 13 -------------------------------------------------------------------------------- Balance at December 31, 2003 $(1,844) $ 521 $(2,495) $ 1,974 $(1,844) ================================================================================
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS Enterprises Company included on the equity method of accounting. CONSUMERS ENERGY COMPANY Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS Inter- Consumers Consumers Midland CMS company Energy Energy Holdings Midland Elimina- Company Company (2) Company Inc. tions Consol. Balance at January 1, 2003 $ 545 $ 31 $ 171 $(202) $ 545 Net Income (Loss) 196 2 18 (20) 196 Less Dividends Paid Common Stock - - - - - Preferred Stock 2 - - - 2 Preferred Securities Dist. - - - - - Associated Companies 218 - - - 218 --------------------------------------------------------------------- 220 - - - 220 --------------------------------------------------------------------- Balance at December 31, 2003 $ 521 $ 33 $ 189 $(222) $ 521 =====================================================================
(2) Represents Consumers Energy Company, Consumers Receivables Funding LLC, Consumers Receivables Funding II LLC, Consumers Funding LLC, Consumers Campus Holdings LLC, CMS Engineering Company, ES Services Company, Consumers Nuclear Services LLC, Consumers Parnell Holdings LLC and Consumers EnergyGuard Services, Inc. consolidated with CMS Midland Holdings Company and CMS Midland, Inc. included on the equity method of accounting. CMS ENTERPRISES COMPANY Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS CMS Gas CMS CMS CMS CMS Generation Transmission Energy Int'l CMS Technology Enterprises Co. Company Resource Mgt. Vent. LLC Capital Companies Co. (3) (5) Consol. Consol. Company Consol. LLC (4) Balance at January 1, 2003 $(2,392) $(1,090) $ (565) $ (106) $ (38) $ 15 $ (36) Net Income (Loss) 22 83 3 (58) 46 14 - Less Dividends Paid Common Stock - - - - - - - Preferred Stock - - - - - - - Associated Companies 133 85 110 - 6 14 - ------------------------------------------------------------------------------------------------ 133 85 110 - 6 14 - ------------------------------------------------------------------------------------------------ Balance at December 31, 2003 $(2,503) $(1,092) $ (672) $ (164) $ 2 $ 15 $ (36) ================================================================================================
(Continued on Following Page) CMS ENTERPRISES COMPANY Consolidating Statement of Retained Earnings December 31, 2003 (In Millions) (Continued from Previous Page)
CMS CMS Inter- CMS Resource Business CMS CMS company Enterprises Development Development Texas Land Elimina- Company Company LLC LLC Company (5) tions Consol. Balance at January 1, 2003 $ (1) $ 1 $ - $ (20) $ 1,866 $(2,366) Net Income (Loss) - - (3) 1 (104) 4 Less Dividends Paid Common Stock - - - - - - Preferred Stock - - - - - - Associated Companies - - - - (215) 133 ---------------------------------------------------------------------------------------- - - - - (215) 133 ---------------------------------------------------------------------------------------- Balance at December 31, 2003 $ (1) $ 1 $ (3) $ (19) $ 1,977 $(2,495) ========================================================================================
(3) Represents CMS Enterprises Company, CMS Land Company, CMS Comercializadora de Energia SA, CMS Enterprises Holding Company SA, CMS Energy South America Company and CMS Energy Asia Private Limited consolidated with CMS Generation Co., CMS Gas Transmission Company, CMS Energy Resource Management Company, CMS International Ventures LLC, CMS Capital LLC, CMS Resource Development Company, CMS Energy UK Limited, CMS Business Development LLC and CMS Texas LLC included on the equity method of accounting. (4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS Enterprises Development LLC. (5) The ending Retained Earnings of CMS Land was included in CMS Enterprises' stand-alone Retained Earnings on the Consolidating Balance Sheet - Equity and Liabilities ($20). CMS GENERATION CO. Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
TES Genesee Grayling Dearborn Dearborn CMS Filer City Power Generating Industrial Generating Exeter Generation LP LP LP Generation Operating Energy Co. (6) Consol. Consol. Consol. LLC LLC LP Balance at January 1, 2003 $(1,122) $ 13 $ (12) $ (8) $ (536) $ 1 $ 31 Net Income (Loss) 83 1 (1) - (7) - (1) Less Dividends Paid Common Stock - - - - - - - Associated Companies 85 - - - - - - ------------------------------------------------------------------------------------------------ 85 - - - - - - ------------------------------------------------------------------------------------------------ Balance at December 31, 2003 $(1,124) $ 14 $ (13) $ (8) $ (543) $ 1 $ 30 ================================================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Statement of Retained Earnings December 31, 2003 (In Millions) (Continued from Previous Page)
Taweelah CMSG CMSG CMSG CMSG CMSG CMSG A2 Michigan Int'l Investment Investment Investment Honey Operating Power Operating Co. IV Co. VI Co. VII Lake Company LLC Co. Consol. Consol. Consol. Consol. Company Balance at January 1, 2003 $ 1 $ (66) $ 17 $ 274 $ 44 $ (30) $ (7) Net Income (Loss) 1 (2) 5 3 1 11 1 Less Dividends Paid Common Stock - - - - - - - Associated Companies - - - - - - - --------------------------------------------------------------------------- - - - - - - - --------------------------------------------------------------------------- Balance at December 31, 2003 $ 2 $ (68) $ 22 $ 277 $ 45 $ (19) $ (6) ===========================================================================
(Continued on Following Page) CMS GENERATION CO. Consolidating Statement of Retained Earnings December 31, 2003 (In Millions) (Continued from Previous Page)
HYDRA-CO Inter- CMS Enterprises, CMSG CMSG CMSG company Generation Inc. Investment Altoona Recycling Elimina- Co. Consol. Co. I Company Company tions Consol. Balance at January 1, 2003 $ (163) $ (51) $ 6 $ (3) $ 521 $ (1,090) Net Income (Loss) 7 76 - - (95) 83 Less Dividends Paid Common Stock - - - - - - Associated Companies - 25 - - (25) 85 ---------------------------------------------------------------------- - 25 - - (25) 85 ---------------------------------------------------------------------- Balance at December 31, 2003 $ (156) $ - $ 6 $ (3) $ 451 $ (1,092) ======================================================================
(6) Represents CMS Generation Company, CMSG Chateaugay Company, CMSG Filer City Operating Company, Exeter Management Company and CMSG Operating Company consolidated with CMSG Filer City, Inc., CMSG Genesee Company, CMSG Holdings Company, CMSG Grayling Company, CMSG Grayling Holdings Company, CMS International Operating Company, CMSG Investment Company IV, CMSG Investment Company VI, CMSG Investment Company VII and HYDRA-CO Enterprises, Inc. included on the equity method of accounting. TES FILER CITY STATION LP Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
TES Inter- TES CMSG Filer City company Filer City Filer City Station Elimina- LP Inc. LP tions Consol. Balance at January 1, 2003 $ 13 $ - $ - $ 13 Net Income (Loss) 1 2 (2) 1 Less Dividends Paid Common Stock - - - - Associated Companies - - - - ---------------------------------------------------------- - - - - ---------------------------------------------------------- Balance at December 31, 2003 $ 14 $ 2 $(2) $ 14 ==========================================================
GENESEE POWER STATION LP Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
Genesee Inter- Genesee CMSG CMSG Power company Power Genesee Holdings Station Elimina- LP Company Co. (7) LP tions Consol. Balance at January 1, 2003 $ - $ (13) $ 1 $ - $ (12) Net Income (Loss) - - (1) - (1) Less Dividends Paid Common Stock - - - - - Associated Companies - - - - - --------------------------------------------------------- - - - - - --------------------------------------------------------- Balance at December 31, 2003 $ - $ (13) $ - $ - $ (13) =========================================================
(7) Includes GPS Newco LLC. GRAYLING GENERATING STATION LP Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG Grayling Inter- Grayling CMSG Grayling Generating company Generating Grayling Holdings Station Elimina- LP Company Company LP tions Consol. Balance at January 1, 2003 $ (4) $ (4) $ - $ - $ (8) Net Income (Loss) - - 1 (1) - Less Dividends Paid Common Stock - - - - - Associated Companies - - - - - ---------------------------------------------------------------- - - - - - ---------------------------------------------------------------- Balance at December 31, 2003 $ (4) $ (4) $ 1 $ (1) $ (8) ================================================================
CMS INT'L OPERATING COMPANY Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS CMS CMS CMS Inter- CMS Int'l UK Jorf Morocco India O&M company Int'l Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating Co. (8) Limited Aktiebolag SCA Limited tions Consol. Balance at January 1, 2003 $ 17 $ (7) $ (7) $ 3 $ - $ 11 $ 17 Net Income (Loss) 5 6 5 5 1 (17) 5 Less Dividends Paid Common Stock - - - - - - - Associated Companies 1 - (4) 4 1 (2) - --------------------------------------------------------------------------------------- 1 - (4) 4 1 (2) - --------------------------------------------------------------------------------------- Balance at December 31, 2003 $ 21 $ (1) $ 2 $ 4 $ - $ (4) $ 22 =======================================================================================
(8) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC consolidated. CMSG INVESTMENT COMPANY IV Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG CMSG CMSG Inter- CMSG Investment Luxembourg Investment company Investment Company II SARL Co. II Elimina- Co. IV IV (9) Consol. Consol. tions Consol. Balance at January 1, 2003 $ 274 $ 41 $ 1 $ (42) $ 274 Net Income (Loss) 3 26 1 (27) 3 Less Dividends Paid Common Stock - - - - - Associated Companies - - 1 (1) - ----------------------------------------------------------------------------------- - - 1 (1) - ----------------------------------------------------------------------------------- Balance at December 31, 2003 $ 277 $ 67 $ 1 $ (68) $ 277 ===================================================================================
(9) Represents CMSG Investment Company IV consolidated with CMSG Luxembourg II SARL and CMSG Investment Company II included on the equity method of accounting. CMSG LUXEMBOURG II SARL Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
Jorf Jorf Inter- CMSG CMSG CMSG CMSG Lasfar Lasfar company Luxembourg Luxembourg Luxembourg Netherlands Energlak- Power Energy Elimina- II SARL II SARL SARL BV tiebolag Aktiebolag tions Consol. Balance at January 1, 2003 $ 41 $ 73 $ 73 $ 38 $ 36 $ (220) $ 41 Net Income (Loss) 26 28 27 12 11 (78) 26 Less Dividends Paid Common Stock - - - - - - - Associated Companies - 31 30 54 50 (165) - ----------------------------------------------------------------------------------------------- - 31 30 54 50 (165) - ----------------------------------------------------------------------------------------------- Balance at December 31, 2003 $ 67 $ 70 $ 70 $ (4) $ (3) $ (133) $ 67 ===============================================================================================
CMSG INVESTMENT CO II Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG CMSG CMSG Inter- CMSG Investment Jorf Jorf Jorf company Investment Company Lasfar Lasfar Lasfar Elimina- Co. II II LDC I LDC II Handelsbolag tions Consol. Balance at January 1, 2003 $ 1 $ 65 $ (90) $ (3) $ 28 $ 1 Net Income (Loss) 1 1 1 1 (3) 1 Less Dividends Paid Common Stock - - - - - - Associated Companies 1 1 1 1 (3) 1 ---------------------------------------------------------------------------------- 1 1 1 1 (3) 1 ---------------------------------------------------------------------------------- Balance at December 31, 2003 $ 1 $ 65 $ (90) $ (3) $ 28 $ 1 ==================================================================================
CMSG INVESTMENT CO VI Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG CMS Inter- CMSG Investment Takoradi company Investment Company Invest. Co. Elimina- Co. VI VI (10) Consol. tions Consol. Balance at January 1, 2003 $ 44 $ 6 $ (6) $ 44 Net Income (Loss) 1 14 (14) 1 Less Dividends Paid Common Stock - - - - Associated Companies - 10 (10) - ----------------------------------------------------------------- - 10 (10) - ----------------------------------------------------------------- Balance at December 31, 2003 $ 45 $ 10 $ (10) $ 45 =================================================================
(10) Represents CMSG Investment Company VI with CMSG Takoradi Investment Company included on the equity method of accounting.. CMS TAKORADI INVESTMENT CO. Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS CMS Inter- CMS Takoradi Takoradi Takoradi company Takoradi Investment Investment International Elimina- Invest. Co. Company Company II Company tions Consol. Balance at January 1, 2003 $ 6 $ 6 $ 6 $ (12) $ 6 Net Income (Loss) 14 14 16 (30) 14 Less Dividends Paid Common Stock - - - - - Associated Companies 10 10 11 (21) 10 -------------------------------------------------------------------------------------- 10 10 11 (21) 10 -------------------------------------------------------------------------------------- Balance at December 31, 2003 $ 10 $ 10 $ 11 $ (21) $ 10 ======================================================================================
CMSG INVESTMENT CO VII Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG CMS Inter- CMSG Investment CMSG Jabail company Investment Company Taweelah Investment Elimina- Co. VII VII Limited Company I tions Consol. Balance at January 1, 2003 $ (30) $ (28) $ - $ 28 $ (30) Net Income (Loss) 11 18 (11) (7) 11 Less Dividends Paid Common Stock - - - - - Associated Companies - 9 - (9) - ------------------------------------------------------------------------------------- - 9 - (9) - ------------------------------------------------------------------------------------- Balance at December 31, 2003 $ (19) $ (19) $ (11) $ 30 $ (19) =====================================================================================
HYDRA-CO ENTERPRISES, INC. Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG HCE Inter- HYDRA-CO HYDRA-CO Operating CMSG Rockport company Enterprises, Enterprises, Company Stratton Diesel, Elimina- Inc. Inc. (11) II Company Inc. tions Consol. Balance at January 1, 2003 $ (163) $ (2) $ (20) $ 1 $ 21 $ (163) Net Income (Loss) 7 1 - 5 (6) 7 Less Dividends Paid Common Stock - - - - - - Associated Companies - - - - - - ------------------------------------------------------------------------------------ - - - - - - ------------------------------------------------------------------------------------ Balance at December 31, 2003 $ (156) $ (1) $ (20) $ 6 $ 15 $ (156) ====================================================================================
(11) Represents HYDRA-CO Enterprises, Inc., HCE Biopower, Inc., HCO-Jamaica, Inc., HCE Jamaica Development, Inc. and New Bern Energy Recovery, Inc. consolidated. CMS GAS TRANSMISSION COMPANY Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS Gas CMS CMS CMS CMS Transmission Energy CMS Gas Antrim Grand Bay Area CMS Company Investment Argentina Gas Lacs Pipeline Jackson (12) LLC Consol. Company LLC LLC LLC LLC Balance at January 1, 2003 $ (565) $ - $ 51 $ (9) $ (3) $ (4) $ (2) Net Income (Loss) 3 - - 9 3 4 2 Less Dividends Paid Common Stock - - - - - - - Associated Companies 110 - - - - - - --------------------------------------------------------------------------------------- 110 - - - - - - --------------------------------------------------------------------------------------- Balance at December 31, 2003 $ (672) $ - $ 51 $ - $ - $ - $ - =======================================================================================
(Continued on Following Page) CMS GAS TRANSMISSION COMPANY Consolidating Statement of Retained Earnings December 31, 2003 (In Millions) (Continued from Previous Page)
CMS Panhandle CMS CMS Inter- CMS Gas Marysville Eastern Field Saginaw Bay company Transmission Gas Liquids Pipe Line Services Lateral Elimina- Company Company Company Inc. Co. (13) tions Consol. Balance at January 1, 2003 $ 3 $ (65) $ 4 $ (8) $ 33 $ (565) Net Income (Loss) (3) 65 (4) - (76) 3 Less Dividends Paid Common Stock - - - - - - Associated Companies - - - - - 110 -------------------------------------------------------------------------------------- - - - - - 110 -------------------------------------------------------------------------------------- Balance at December 31, 2003 $ - $ - $ - $ (8) $(43) $ (672) ======================================================================================
(12) Represents CMS Gas Transmission Company, CMS Saginaw Bay Lateral Company and CMS Litchfield LLC consolidated. (13) Includes $(5) balance of CMS TriState Canada General Company (no other existing balance at December 31, 2003). CMS ENERGY INVESTMENT LLC Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS Loy Yang CMSG CMS CMS CMS Energy Holdings Investment Antrim Grand Bay Area CMS Investment No. 1-4 Company I Gas Lacs Pipeline Jackson LLC (14) LLC Consol. LLC LLC LLC LLC Balance at January 1, 2003 $ - $ - $ (159) $ 4 $ (10) $ (4) $ - Net Income (Loss) - - - - - - - Less Dividends Paid Common Stock - - - - - - - Associated Companies - - - 4 4 4 1 ------------------------------------------------------------------------------------- - - - 4 4 4 1 ------------------------------------------------------------------------------------- Balance at December 31, 2003 $ - $ - $ (159) $ - $ (14) $ (8) $(1) =====================================================================================
(Continued on Following Page) CMS ENERGY INVESTMENT LLC Consolidating Statement of Retained Earnings December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- CMS company Energy Elimina- Investment tions LLC Consol. Balance at January 1, 2003 $ 169 $ - Net Income (Loss) - - Less Dividends Paid Common Stock - - Associated Companies (13) - ------------------------ (13) - ------------------------ Balance at December 31, 2003 $ 182 $ - ========================
(14) Represents CMS Energy Investment LLC with CMSG Investment Company I included on the equity method of accounting. CMSG INVESTMENT CO I Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG CMSG Inter- CMSG Investment Loy Yang company Investment Company Holdings 1-2 Elimina- Company I I (15) ltd. Consol. tions Consol. Balance at January 1, 2003 $ (159) $ (435) $ 435 $ (159) Net Income (Loss) - (1) 1 - Less Dividends Paid Common Stock - - - - Associated Companies - - - - ------------------------------------------------------------------- - - - - ------------------------------------------------------------------- Balance at December 31, 2003 $ (159) $ (436) $ 436 $ (159) ===================================================================
(15) Represents CMSG Investment Company I with CMSG Loy Yang Holdings 1 and 2 Ltd. included on the equity method of accounting. CMSG LOY YANG HOLD 1-2 LTD. Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG Horizon CMSG CMSG Inter- CMSG Loy Yang Energy Loy Yang Horizon company Loy Yang Holdings Holdings Holdings Energy Elimina- Holdings 1-2 1 Ltd. Ltd. 2 Ltd. Holding Ltd. tions ltd. Consol. Balance at January 1, 2003 $ (215) $ (215) $ (220) $ (220) $ 435 $ (435) Net Income (Loss) (1) (1) - - 1 (1) Less Dividends Paid Common Stock - - - - - - Associated Companies - - - - - - ---------------------------------------------------------------------------------- - - - - - - ---------------------------------------------------------------------------------- Balance at December 31, 2003 $ (216) $ (216) $ (220) $ (220) $ 436 $ (436) ==================================================================================
CMS INT'L VENTURES LLC Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS CMSG CMS Western CMS Operating Invest. Electric & Gas Australia CMSG CMS Int'l Ventures SRL Co. III LLC GT Co. I Invest. Generation LLC (16) Consol. Consol. Consol. Consol. Co. V SRL Balance at January 1, 2003 $ (38) $ (4) $ 18 $ (320) $ 23 $ 1 $ (31) Net Income (Loss) 46 1 (2) 62 (23) 6 - Less Dividends Paid Common Stock - - - - - - - Associated Companies 6 - - - 15 - - ------------------------------------------------------------------------------------------ 6 - - - 15 - - ------------------------------------------------------------------------------------------ Balance at December 31, 2003 $ 2 $ (3) $ 16 $ (258) $ (15) $ 7 $ (31) ==========================================================================================
(Continued on Following Page) CMS INT'L VENTURES LLC Consolidating Statement of Retained Earnings December 31, 2003 (In Millions) (Continued from Previous Page)
CMS Inter- CMS Int'l Int'l Ventures company Ventures LLC Elimina- LLC Branch tions Consol. Balance at January 1, 2003 $ (1) $ 314 $ (38) Net Income (Loss) (2) (42) 46 Less Dividends Paid Common Stock - - - Associated Companies - (15) 6 ------------------------------------------------- - (15) 6 ------------------------------------------------- Balance at December 31, 2003 $ (3) $ 287 $ 2 =================================================
(16) Represents CMS International Ventures LLC with CMS Operating SRL, CMSG Investment Company III, CMS Electric & Gas LLC and Western Australia GT Company I included on the equity method of accounting. CMS OPERATING SRL Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
Inter- CMS Centrales CMS Company CMS Operating Termicas Ensenada Elimina- Operating SRL (17) Mendoza SA SA tions SRL Consol. Balance at January 1, 2003 $ (4) $ 2 $ (5) $ 3 $ (4) Net Income (Loss) 1 1 5 (6) 1 Less Dividends Paid Common Stock - - - - - Associated Companies - - - - - -------------------------------------------------------------------------------- - - - - - -------------------------------------------------------------------------------- Balance at December 31, 2003 $ (3) $ 3 $ - $(3) $ (3) ================================================================================
(17) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated. CMSG INVESTMENT CO III Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMSG CMSG Jegurupadu Inter- CMSG Investment Jegurupadu CMSG CMSG Company Investment Company O&M Co. Company Neyveli Elimina- Co. III III (18) Mauritius Limited Limited tions Consol. Balance at January 1, 2003 $ 18 $ 1 $ 9 $ - $ (10) $ 18 Net Income (Loss) (2) - (3) 1 2 (2) Less Dividends Paid Common Stock - - - - - - Associated Companies - - - - - - ------------------------------------------------------------------------------- - - - - - - ------------------------------------------------------------------------------- Balance at December 31, 2003 $ 16 $ 1 $ 6 $ 1 $ (8) $ 16 ===============================================================================
(18) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated. CMS ELECTRIC & GAS LLC Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
CMS Sistema Companhia Inter- CMS Electric Electrico del CMS CMS CMS Paulista Company Electric & & Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC LLC (19) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol. Balance at January 1, 2003 $ (320) $ (38) $ (46) $ (99) $ (81) $ 30 $ 234 $ (320) Net Income (Loss) 62 (17) (35) 92 (2) 10 (48) 62 Less Dividends Paid Common Stock - - - - - - - - Associated Companies - - - - - - - - -------------------------------------------------------------------------------------------------- - - - - - - - - -------------------------------------------------------------------------------------------------- Balance at December 31, 2003 $ (258) $ (55) $ (81) $ (7) $ (83) $ 40 $ 186 $ (258) ==================================================================================================
(19) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de Energia Ltda. consolidated. WESTERN AUSTRALIA GT CO I Consolidating Statement of Retained Earnings December 31, 2003 (In Millions)
Western CMS CMS Compania de Australia CMS Goldfields International Inversiones GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy I (20) SARL BV PTY LTD Svcs. Co. Chile Ltda Balance at January 1, 2003 $ 23 $ (6) $ (3) $ 5 $ 8 $ (12) Net Income (Loss) (23) 6 7 15 6 8 Less Dividends Paid Common Stock - - - - - - Associated Companies 15 - - 6 5 - ---------------------------------------------------------------------------------------- 15 - - 6 5 - ---------------------------------------------------------------------------------------- Balance at December 31, 2003 $ (15) $ - $ 4 $ 14 $ 9 $ (4) ========================================================================================
(Continued on Following Page) WESTERN AUSTRALIA GT CO I Consolidating Statement of Retained Earnings December 31, 2003 (In Millions) (Continued from Previous Page)
Inter- Western CMS GT company Australia of Elimina- GT Co. I Australia tions Consol. Balance at January 1, 2003 $ 2 $ 6 $ 23 Net Income (Loss) (41) (1) (23) Less Dividends Paid Common Stock - - - Associated Companies - (11) 15 ---------------------------------------------- - (11) 15 ---------------------------------------------- Balance at December 31, 2003 $ (39) $ 16 $ (15) ==============================================
(20) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS GT of Australia Holdings Company consolidated. EXHIBIT B Organizational charts showing the relationship of each Exempt Wholesale Generator to associate companies in the holding company system. CENTRALES TERMICAS MENDOZA S.A. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * * * * * 40.47% * * CMS Gas Transmission Company * * * * * CMS Generation Co. * * * * * 37.01% * * * * * * * * * * 21.02% * * * * * * * * * * CMS International Ventures, L.L.C. * * * * 99% 99.999% * * * * CMS Centrales Termicas S.A. CMS Operating, S.R.L. * * * * 1% 99% * * * * Cuyana S.A. de Inversiones * 92.6% * Centrales Termicas Mendoza S.A.
CENTRALES TERMICAS SAN NICOLAS, S.A. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * 0.1% * CMS Generation San Nicolas Company * 0.1% * Inversora de San Nicolas, S.A. * 88% * Centrales Termicas San Nicolas, S.A. CMS DISTRIBUTED POWER, L.L.C. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Distributed Power, L.L.C. CMS ENSENADA S.A. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * * * * 40.47% * * * CMS Gas Transmission Company * * * * * 37.01% CMS Generation Co. * * * * * * * * * * 21.02% * * * * * CMS International Ventures, L.L.C. * * * * * 99.999% * * * * * CMS Operating, S.R.L. CMS Generation Holdings Company * * * * 99% 1% * * * * CMS Ensenada S.A.
CMS GENERATION MICHIGAN POWER L.L.C. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * CMS Generation Michigan Power L.L.C. CMS GENERATION OPERATING COMPANY (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * CMS Generation Operating Company CMS (INDIA) OPERATIONS & MAINTENANCE COMPANY PRIVATE LIMITED (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * * * CMS International Operating Company CMS Generation Investment Company VII * * 99% 1% * * CMS (India) Operations & Maintenance Company Private Limited CMS MOROCCO OPERATING CO., S.C.A. (EWG) AND CMS INTERNATIONAL OPERATING COMPANY (EWG) CMS Energy Corporation * CMS Enterprises Company * * * * * CMS Generation Co. * * * * * * * * * * * * * * * * 14% 14% 14% 14% * * * * * * Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings * No. 1 LLC No. 2 LLC No. 3 LLC No. 4 LLC * * * * * * 50% 50% 50% 50% * * * * * Loy Yang Holdings Unit Trust No. 3 Lot Yang Holdings Unit Trust No. 2 * * * 50% 50% * * * * CMS Generation Investment Company I * * * * * * * * * CMS Generation Investment Company IV * * * * * * CMS International Operating Company * * * * * * * * * * * CMS Generation UK Operating * 50% * Private Limited * * * * * * * * * * .1% * * CMS Generation Jorf Lasfar III Limited Duration Company * Jorf Lasfar Aktiebolag * * * * * * * * 99.7% .1% .1% * * * * * * * * * CMS Morocco Operating Co., S.C.A.
DEARBORN GENERATION OPERATING, L.L.C. (EWG) AND DEARBORN INDUSTRIAL GENERATION, L.L.C. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * * * * Dearborn Generation Operating, L.L.C. Dearborn Industrial Energy, L.L.C. * * * Dearborn Industrial Generation, L.L.C. EXETER ENERGY LIMITED PARTNERSHIP (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * * * * * * * * Exeter Management Company * Oxford/CMS Development LP * 50% * * * 48% 2% * * * * * * * Exeter Energy Limited Partnership GVK INDUSTRIES LIMITED (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * * * * * * * * CMS Gas Transmission Company CMS Generation Co. * * * * * * 40.47% 37.01% 21.02% * * * * * * * * CMS International Ventures, L.L.C.** * * CMS Generation Investment Company III * * Jegurupadu CMS Generation Company Ltd. * 23.75% * GVK Industries Limited
HIDROELECTRICA EL CHOCON, S.A. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * * * * * * * * CMS Gas Transmission Company CMS Generation Co. * * * * * * * * * * 40.47% 37.01% 21.02% * * * * * * * * * * * * CMS International Ventures, L.L.C. * * * * * * CMS Generation Holdings Company * 99.99% * * * .01% * * * * CMS Generation S.R.L. * * * * * * * * 25% * * * 2.48% * 2.48% Hidroinvest S.A. * * * * * * * 59% * * * * * * Hidroelectrica El Chocon, S.A.
JAMAICA PRIVATE POWER COMPANY, LIMITED (EWG) AND PRIVATE POWER OPERATORS LIMITED (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * HYDRA-CO Enterprises, Inc. * * * * * * CMS Generation Operating Company II, Inc. HCE-Rockfort Diesel, Inc. * * * * * 45.07% * * * HCO-Jamaica, Inc. * Jamaica Private Power * 1% Company, Limited * * 99% * * * * * Private Power Operators Limited* JEGURUPADU OPERATING AND MAINTENANCE CO. (EWG) CMS Energy Corporation * CMS Enterprises Company * * * * * * * * * CMS Gas Transmission Company * CMS Generation Co. * * * * * 40.47% * * 37.01% * * * * * 21.02% * * * * * CMS International Ventures, L.L.C. CMS Investment Company IV * * * * * * CMS Generation Investment Company III CMS Generation Investment Company II * * * * * * * * 99% * 1% * * * * 1% 99% * * * * CMS Generation Jegurupadu I CMS Generation Jegurupadu II Limited Duration Company Limited Duration Company * * * * 50% 50% * * * * Jegurupadu O&M Company Mauritius * 60% * Jegurupadu Operating and Maintenance Co.
JORF LASFAR ENERGY COMPANY (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * CMS Generation Investment Company IV**************** * * * * * * * * CMS Generation Luxembourg II S.A.R.L. * * * * * * * * * * * CMS Generation Luxembourg S.A.R.L. * CMS Generation Investment Company II * * * * * * * 35% 65% 65% 35% * * * * * CMS Generation Netherlands B.V. * * CMS Generation Jorf Lasfar I * * * * Limited Duration Company * * * * * * * CMS Generation Jorf Lasfar II * * Limited Duration Company 50% * * * * * * 50% * * * * Jorf Lasfar Power Jorf Lasfar Energiaktiebolag Jorf Lasfar Handelsbolag Energy Aktiebolag * * * 23% 25% 2% * * * * * * *************Jorf Lasfar Energy Company************
JUBAIL ENERGY COMPANY (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * CMS Generation Investment Company VII * * * CMS Jubail Investment Company I * * 25% * * Jubail Energy Company SHUWEIHAT CMS INTERNATIONAL POWER COMPANY (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * CMS Generation Investment Company VII * * * * 50% * * * * * Shuweihat General Partner Company 49.5% * * * * 1% * * * * * Shuweihat Limited Partnership * * 40% * * Shuweihat CMS International Power Company SHUWEIHAT O&M LIMITED PARTNERSHIP (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * CMS Generation Investment Company VII * * * * 50% * * * * * Shuweihat O&M General Partner Company 49.5% * * * * 1% * * * * * Shuweihat O&M Limited Partnership ST-CMS ELECTRIC COMPANY PVT. LTD. (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * * * * * * * CMS Generation Co. * CMS Gas Transmission Company * * * 21.02% 40.47% 37.01% * * * CMS International Ventures, L.L.C. * * * CMS Generation Investment Company III * * * CMS Generation Neyveli Ltd. * 50% * ST-CMS Electric Company Pvt. Ltd. TAKORADI INTERNATIONAL COMPANY (EWG) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * * * * * * * * * * * * * * * * CMS International Operating Company CMS Generation Investment Company VI | * | * | * | CMS Takoradi Investment Company | * Operator * | * | CMS Takoradi Investment Company II | * | 90% | * Takoradi International Company
Organizational charts showing the relationship of each foreign utility company to associate companies in the holding company system. CMS GENERATION HORIZON ENERGY HOLDINGS LTD (FUCO) AND HORIZON ENERGY HOLDINGS LTD (FUCO) AND LOY YANG POWER PARTNERS (FUCO) CMS Energy Corporation * * CMS Enterprises Company * * * * * CMS Generation Co. CMS Gas Transmission Company * * * * * * * * * 70% * * * * * * * * * CMS Energy Investment L.L.C. * * * * * * * 14% 14% 14% 14% * * * * * * * 86% * 86% 86% 86% * * * * * * * * * * * * * * * * * * * * * * * * * * * * Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings No. 1 LLC No. 2 LLC No. 3 LLC No. 4 LLC * * * * * * * * 50% 50% 50% 50% * * * * Loy Yang Holdings Unit Trust No. 3 Loy Yang Holdings Unit Trust No. 2 * * * * 50% 50% * * CMS Generation Investment Company I * * * * * * CMS Generation Loy Yang Holdings 2 Ltd. CMS Generation Loy Yang Holdings 1 Ltd. * * * * CMS Generation Horizon Energy Holdings Ltd. Horizon Energy Holdings Ltd. * * 25% 24.63% * * Loy Yang Power Partners
CMS OPERATING, S.R.L. (FUCO) CMS ENERGY CORPORATION * * * CMS ENTERPRISES COMPANY * * * * * * * * * * * * CMS Generation Co. * CMS Gas Transmission Company * * * * * * * * * 21.02% 40.47% 37.01% CMS Generation Holdings Company * * * * * * * * * * * * CMS International Ventures, L.L.C. * * * * .001% 99.999% * * * * CMS Operating, S.R.L. COMPANHIA PAULISTA DE ENERGIA ELECTRICA S.A. (CPEE) (FUCO) AND COMPANHIA SUL PAULISTA DE ENERGIA S.A. (CSPE) (FUCO) AND COMPANHIA JAGUARI DE ENERGIA S.A. (CJE) (FUCO) AND COMPANHIA LUZ E FORCA DE MOCOCA S.A. (CLFM) (FUCO) CMS Energy Corporation * CMS Enterprises Company * * * 40.47% * * * CMS Gas Transmission Company * * * * * 37.01% CMS Generation Co. * * * * * 21.02% * * * CMS International Ventures, L.L.C. * * CMS Electric & Gas, L.L.C. * 99.99% * CMS Distribuidora, Ltda. * 99.99% * CMS Participacoes Ltda. * 93.86% * CPEE * 88.63% * CSPE * * CJE * * CLFM EMIRATES CMS POWER COMPANY (FUCO) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * CMS Generation Investment Company VII * * * CMS Generation Taweelah Limited * 40% * Emirates CMS Power Company SISTEMA ELECTRICO DEL ESTADO NUEVA ESPARTA C.A. (SENECA) (FUCO) CMS Energy Corporation * * * CMS Enterprises Company * * * * * * * * * * CMS Gas Transmission Company CMS Generation Co. * * * * * * 40.47% 37.01% 21.02% * * * * * * CMS International Ventures, L.L.C. * * * CMS Electric & Gas, L.L.C. * * * * * CMS Venezuela S.A. * * * * ENELMAR, SA 52.37% * * 33.34% * * * SENECA TAWEELAH A2 OPERATING COMPANY (FUCO) CMS Energy Corporation * * * CMS Enterprises Company * * * CMS Generation Co. * * * Taweelah A2 Operating Company -----END PRIVACY-ENHANCED MESSAGE-----