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CMS Energy Corporation Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating Revenue $ 1,607 $ 1,555 $ 3,783 $ 3,839
Operating Expenses        
Fuel for electric generation 114 110 270 247
Purchased power – related parties 16 17 34 36
Maintenance and other operating expenses 404 406 806 837
Depreciation and amortization 273 255 641 608
General taxes 102 97 257 239
Total operating expenses 1,324 1,311 3,088 3,281
Operating Income 283 244 695 558
Other Income (Expense)        
Non-operating retirement benefits, net 41 45 85 90
Other income 77 103 121 118
Other expense (5) (2) (7) (6)
Total other income 113 146 199 202
Interest Charges        
Interest on long-term debt 171 152 343 296
Allowance for borrowed funds used during construction (6) (1) (6) (1)
Total interest charges 173 160 350 307
Income Before Income Taxes 223 230 544 453
Income Tax Expense 41 41 99 70
Income From Continuing Operations 182 189 445 383
Income From Discontinued Operations, Net of Tax of $— for all periods 0 1 0 1
Net Income 182 190 445 384
Loss Attributable to Noncontrolling Interests (16) (8) (40) (18)
Net Income 198 198 485 402
Preferred Stock Dividends 3 3 5 5
Net Income Available to Common Stockholders $ 195 $ 195 $ 480 $ 397
Basic earnings per average common share (in dollars per share) $ 0.65 $ 0.67 $ 1.61 $ 1.36
Diluted earnings per average common share (in dollars per share) $ 0.65 $ 0.67 $ 1.61 $ 1.36
Related Party        
Interest Charges        
Other interest expense $ 3 $ 3 $ 6 $ 6
Nonrelated Party        
Interest Charges        
Other interest expense 5 6 7 6
Purchased and interchange power        
Operating Expenses        
Cost of goods and services sold 349 342 663 683
Cost of gas sold        
Operating Expenses        
Cost of goods and services sold $ 66 $ 84 $ 417 $ 631