CMS Energy Corporation Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net Income	$ 947	$ 808	$ 813
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	1,240	1,180	1,126
Deferred income taxes and investment tax credits	142	157	89
Bad debt expense	33	34	50
Postretirement benefits contributions	(13)	(12)	(12)
Gain from sale of EnerBank	0	0	(5)
Other non‑cash operating activities and reconciling adjustments	(241)	(274)	(93)
Changes in assets and liabilities
Accounts receivable and accrued revenue	(155)	241	(677)
Inventories	164	185	(450)
Accounts payable and accrued rate refunds	15	(136)	4
Other current assets and liabilities	42	(21)	14
Other non‑current assets and liabilities	196	147	(4)
Net cash provided by operating activities	2,370	2,309	855
Cash Flows from Investing Activities
Net proceeds from sale of EnerBank	0	0	5
Cost to retire property and other investing activities	(160)	(167)	(107)
Net cash used in investing activities	(3,054)	(3,386)	(2,476)
Cash Flows from Financing Activities
Proceeds from issuance of debt	1,962	3,551	1,899
Retirement of debt	(952)	(2,132)	(106)
Increase (decrease) in notes payable	(28)	73	20
Issuance of common stock	286	192	69
Payment of dividends on common and preferred stock	(626)	(579)	(544)
Proceeds from the sale of membership interest in VIE to tax equity investor	0	86	49
Contributions from noncontrolling interests	5	6	2
Distributions to noncontrolling interests	(12)	(12)	(4)
Other financing costs	(21)	(42)	(58)
Net cash provided by financing activities	614	1,143	1,327
Net Increase (Decrease) in Cash and Cash Equivalents, Including Restricted Amounts	(70)	66	(294)
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period	248	182	476
Cash and Cash Equivalents, Including Restricted Amounts, End of Period	178	248	182
Cash transactions
Interest paid (net of amounts capitalized)	677	607	490
Income taxes paid (proceeds from sale of renewable energy tax credits), net	(69)	15	1
Non‑cash transactions
Capital expenditures not paid	517	265	228
ASP gain
Cash Flows from Investing Activities
Proceeds from sale of ASP business	124	0	0
Capital Expenditures
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	(3,018)	(2,407)	(2,374)
Covert Plant Acquisition
Cash Flows from Investing Activities
Capital expenditures (excludes assets placed under finance lease)	$ 0	$ (812)	$ 0