EX-99.2 7 k15481exv99w2.htm ITEM 6 OF FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2006 exv99w2
 

Exhibit 99.2
Selected Financial Information   CMS Energy Corporation
     
                                                 
            2006     2005     2004     2003     2002  
 
Operating revenue (in millions)
    ($ )     6,303       6,018       5,256       5,314       8,433  
 
                                               
Earnings from equity method investees (in millions)
    ($ )     89       125       115       164       92  
 
                                               
Income (loss) from continuing operations (in millions)
    ($ )     (122 )     (133 )     115             (393 )
 
                                               
Cumulative effect of change in accounting (in millions)
    ($ )                 (2 )     (24 )     18  
 
                                               
Net income (loss) (in millions)
    ($ )     (79 )     (84 )     121       (43 )     (650 )
 
                                               
Net income (loss) available to common stockholders (in millions)
    ($ )     (90 )     (94 )     110       (44 )     (650 )
 
                                               
Average common shares outstanding (in thousands)
            219,857       211,819       168,553       150,434       139,047  
 
                                               
Net income (loss) from continuing operations per average common share
                                               
CMS Energy — Basic
    ($ )     (0.61 )     (0.68 )     0.61       (0.01 )     (2.83 )
— Diluted
    ($ )     (0.61 )     (0.68 )     0.60       (0.01 )     (2.83 )
 
                                               
Cumulative effect of change in accounting per average common share
                                               
CMS Energy — Basic
    ($ )                 (0.01 )     (0.16 )     0.13  
— Diluted
    ($ )                 (0.01 )     (0.16 )     0.13  
 
                                               
Net income (loss) per average common share
                                               
CMS Energy — Basic
    ($ )     (0.41 )     (0.44 )     0.65       (0.30 )     (4.68 )
— Diluted
    ($ )     (0.41 )     (0.44 )     0.64       (0.30 )     (4.68 )
 
                                               
Cash provided by (used in) operations (in millions)
    ($ )     688       599       353       (250 )     614  
 
                                               
Capital expenditures, excluding acquisitions and capital lease additions (in millions)
    ($ )     670       593       525       535       747  
 
                                               
Total assets (in millions) (a)
    ($ )     15,371       16,041       15,872       13,838       14,781  
 
                                               
Long-term debt, excluding current portion (in millions) (a)
    ($ )     6,202       6,780       6,417       5,985       5,315  
 
                                               
Long-term debt-related parties, excluding current portion (in millions) (b)
    ($ )     178       178       504       684        
 
                                               
Non-current portion of capital leases and finance lease obligations (in millions)
    ($ )     42       308       315       58       116  
 
                                               
Total preferred stock (in millions)
    ($ )     305       305       305       305       44  
 
                                               
Total Trust Preferred Securities (in millions) (b)
    ($ )                             883  
 
                                               
Cash dividends declared per common share
    ($ )                             1.09  
 
                                               
Market price of common stock at year-end
    ($ )     16.70       14.51       10.45       8.52       9.44  
 
                                               
Book value per common share at year-end
    ($ )     10.03       10.53       10.62       9.84       7.48  
 
                                               
Number of employees at year-end (full-time equivalents)
            8,640       8,713       8,660       8,411       10,477  
 
                                               
Electric Utility Statistics
                                               
Sales (billions of kWh)
            38       39       38       38       38  
Customers (in thousands)
            1,797       1,789       1,772       1,754       1,734  
Average sales rate per kWh
    )     8.46       6.73       6.88       6.91       6.88  
 
                                               
Gas Utility Statistics
                                               
Sales and transportation deliveries (bcf)
            309       350       385       380       376  
Customers (in thousands) (c)
            1,714       1,708       1,691       1,671       1,652  
Average sales rate per mcf
    ($ )     10.44       9.61       8.04       6.72       5.67  
 
(a)   Until their sale in November 2006, we were the primary beneficiary of the MCV Partnership and the FMLP. As a result, we consolidated their assets, liabilities and activities into our consolidated financial statements through the date of sale and for the years ended December 31, 2005 and 2004. These partnerships had third party obligations totaling $482 million at December 31, 2005 and $582 million at December 31, 2004. Property, plant and equipment serving as collateral for these obligations had a carrying value of $224 million at December 31, 2005 and $1.426 billion at December 31, 2004.
 
(b)   Effective December 31, 2003, Trust Preferred Securities are classified on our consolidated balance sheet as Long-term debt — related parties.
 
(c)   Excludes off-system transportation customers.

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