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CMS Energy Corporation Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating Revenue $ 1,743 $ 1,673 $ 5,526 $ 5,512
Operating Expenses        
Fuel for electric generation 179 162 449 409
Purchased power – related parties 19 21 53 57
Maintenance and other operating expenses 412 447 1,218 1,284
Depreciation and amortization 273 262 914 870
General taxes 99 91 356 330
Total operating expenses 1,376 1,402 4,464 4,683
Operating Income 367 271 1,062 829
Other Income (Expense)        
Non-operating retirement benefits, net 42 45 127 135
Other income 46 34 167 152
Other expense (4) (2) (11) (8)
Total other income 84 77 283 279
Interest Charges        
Interest on long-term debt 176 158 519 454
Allowance for borrowed funds used during construction (5) (1) (11) (2)
Total interest charges 178 164 528 471
Income Before Income Taxes 273 184 817 637
Income Tax Expense 26 11 125 81
Income From Continuing Operations 247 173 692 556
Income From Discontinued Operations, Net of Tax of $— for all periods 0 0 0 1
Net Income 247 173 692 557
Loss Attributable to Noncontrolling Interests (6) (3) (46) (21)
Net Income 253 176 738 578
Preferred Stock Dividends 2 2 7 7
Net Income Available to Common Stockholders $ 251 $ 174 $ 731 $ 571
Basic Earnings Per Average Common Share (in dollars per share) $ 0.84 $ 0.60 $ 2.45 $ 1.96
Diluted Earnings Per Average Common Share (in dollars per share) $ 0.84 $ 0.60 $ 2.45 $ 1.96
Related Party        
Interest Charges        
Other interest expense $ 3 $ 3 $ 9 $ 9
Nonrelated Party        
Interest Charges        
Other interest expense 4 4 11 10
Purchased and interchange power        
Operating Expenses        
Cost of goods and services sold 362 377 1,025 1,060
Cost of gas sold        
Operating Expenses        
Cost of goods and services sold $ 32 $ 42 $ 449 $ 673