CMS Energy Corporation Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Operating Revenue	$ 2,021	$ 1,743	$ 6,306	$ 5,526
Operating Expenses
Fuel for electric generation	153	179	504	449
Purchased power – related parties	21	19	69	53
Maintenance and other operating expenses	416	412	1,218	1,218
Depreciation and amortization	288	273	964	914
General taxes	107	99	378	356
Total operating expenses	1,540	1,376	5,014	4,464
Operating Income	481	367	1,292	1,062
Other Income (Expense)
Non-operating retirement benefits, net	48	42	137	127
Other income	19	46	128	167
Other expense	(5)	(4)	(16)	(11)
Total other income	62	84	249	283
Interest Charges
Interest on long-term debt	204	176	590	519
Allowance for borrowed funds used during construction	(3)	(5)	(9)	(11)
Total interest charges	203	178	588	528
Income (Loss) Before Income Taxes	340	273	953	817
Income Tax Expense	68	26	193	125
Net Income	272	247	760	692
Loss Attributable to Noncontrolling Interests	(5)	(6)	(22)	(46)
Net Income	277	253	782	738
Preferred Stock Dividends	2	2	7	7
Net Income (Loss) Available to Common Stockholders	$ 275	$ 251	$ 775	$ 731
Basic Earnings Per Average Common Share (in dollars per share)	$ 0.92	$ 0.84	$ 2.59	$ 2.45
Diluted Earnings Per Average Common Share (in dollars per share)	$ 0.92	$ 0.84	$ 2.59	$ 2.45
Related Party
Interest Charges
Other interest expense	$ 2	$ 3	$ 8	$ 9
Nonrelated Party
Interest Charges
Other interest expense	0	4		11
Other interest expense			(1)
Purchased and interchange power
Operating Expenses
Cost of goods and services sold	513	362	1,332	1,025
Cost of gas sold
Operating Expenses
Cost of goods and services sold	$ 42	$ 32	$ 549	$ 449