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CMS Energy Corporation Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Revenue $ 8,596 $ 7,329 $ 6,418
Operating Expenses      
Fuel for electric generation 905 593 375
Purchased power – related parties 76 77 64
Maintenance and other operating expenses 1,669 1,610 1,280
Depreciation and amortization 1,126 1,114 1,043
General taxes 412 389 357
Total operating expenses 7,372 6,183 5,188
Operating Income 1,224 1,146 1,230
Other Income (Expense)      
Non-operating retirement benefits, net 205 165 118
Other income 19 30 28
Other expense (27) (18) (62)
Total other income 197 177 84
Interest Charges      
Interest on long-term debt 509 481 483
Interest expense – related parties 12 12 12
Other interest expense 0 10 12
Allowance for borrowed funds used during construction (2) (3) (2)
Total interest charges 519 500 505
Income Before Income Taxes 902 823 809
Income Tax Expense 93 95 115
Income From Continuing Operations 809 728 694
Income From Discontinued Operations, Net of Tax of $1, $170, and $18 4 602 58
Net Income 813 1,330 752
Loss Attributable to Noncontrolling Interests (24) (23) (3)
Net Income Attributable to CMS Energy 837 1,353 755
Preferred Stock Dividends 10 5 0
Net Income Available to Common Stockholders $ 827 $ 1,348 $ 755
Basic Earnings Per Average Common Share      
Basic earnings per average common share, income from continuing operations per average common share available to common stockholders (in dollars per share) $ 2.84 $ 2.58 $ 2.45
Basic earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0.01 2.08 0.20
Basic earnings per average common share (in dollars per share) 2.85 4.66 2.65
Diluted Earnings Per Average Common Share      
Diluted earnings per average common share, income from continuing operations per average common share available to common stockholders (in dollars per share) 2.84 2.58 2.44
Diluted earnings per average common share, income from discontinued operations per average common share available to common stockholders (in dollars per share) 0.01 2.08 0.20
Diluted earnings per average common share (in dollars per share) $ 2.85 $ 4.66 $ 2.64
Purchased and interchange power      
Operating Expenses      
Cost of goods and services sold $ 1,928 $ 1,665 $ 1,492
Cost of gas sold      
Operating Expenses      
Cost of goods and services sold $ 1,256 $ 735 $ 577