CMS: the cashflow

MyFinsight

For the year ending 2025-12-31, CMS had $437M increase in cash & cash equivalents over the period.

Cash Flow Overview

Change in Cash
$437M

Unit: Million (M) dollars (except for numbers of shares and EPS)

Cash Flow	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Net income	1,002	947	808	837
Depreciation and amortization	1,306	1,240	1,180	-
Deferred income taxes and investment tax credits	202	142	157	89
Bad debt expense	40	33	34	50
Postretirement benefits contributions	16	13	12	12
Gain from sale of enerbank	-	0	0	-
Other noncash operating activities and reconcilingadjustments	238	241	274	93
Net cash used in discontinued operations	-	-	0	-
Accounts receivable and accrued revenue	251	155	-241	677
Inventories	28	-164	-185	450
Accounts payable and accrued rate refunds	196	15	-136	4
Other current assets and liabilities	-78	-42	21	-14
Other noncurrent assets and liabilities	56	-196	-147	4
Income before income taxes	-	-	-	1,085
Income tax expense	-	-	-	140
Net income-Consumers Energy Company	-	-	-	945
Deferred income taxes and investment tax credits-Consumers Energy Company	-	-	-	134
Bad debt expense-Consumers Energy Company	-	-	-	50
Postretirement benefits contributions-Consumers Energy Company	-	-	-	9
Other noncash operating activities and reconcilingadjustments-Consumers Energy Company	-	-	-	87
Accounts receivable and accrued revenue-Consumers Energy Company	-	-	-	660
Inventories-Consumers Energy Company	-	-	-	447
Accounts payable and accrued rate refunds-Consumers Energy Company	-	-	-	-9
Other current assets and liabilities-Consumers Energy Company	-	-	-	-18
Other noncurrent assets and liabilities-Consumers Energy Company	-	-	-	29
Depreciation and amortization-Consumers Energy Company	-	-	-	1,088
Net cash provided by operating activities	2,235	2,370	2,309	855
Capital expenditures (excludes assets placed under finance lease)-Ongoing Capital Expenditures	3,824	3,018	2,407	-
Capital expenditures (excludes assets placed under finance lease)-Covert Plant Acquisition	0	0	812	-
Net proceeds from sale of enerbank	-	0	0	-
Net cash provided by discontinued operations	-	-	0	-
Proceeds from sale of asp business-Appliance Service Plan Business	-	124	-	-
Proceeds from sale of asp business	0	-	-	-
Cost to retire property and other investing activities	214	160	167	-
Net cash used in investing activities	-4,038	-3,054	-3,386	-2,476
Proceeds from issuance of debt	3,609	1,962	3,551	-
Retirement of debt	1,150	952	2,132	-
Increase (decrease) in notes payable	-65	-28	73	-
Issuance of common stock	525	286	192	-
Issuance of preferred stock, net of issuance costs	-	-	0	-
Payment of dividends on common and preferred stock	663	626	579	-
Proceeds from the sale of membership interests in vies-Class BMembership	44	-	-	-
Proceeds from the sale of membership interest in vie to tax equity investor	-	0	86	-
Proceeds from the sale of membership interests in vies-Class ATax Equity Membership	15	-	-	-
Contributions from noncontrolling interests	4	5	6	-
Net cash used in discontinued operations	-	-	0	-
Distributions to noncontrolling interests	14	12	-	-
Other financing costs	-65	-21	-54	-
Net cash provided by financing activities	2,240	614	1,143	1,327
Net cash provided by operating activities-Consumers Energy Company	-	-	-	994
Net cash used in investing activities-Consumers Energy Company	-	-	-	-2,344
Net cash provided by (used in) financing activities-Consumers Energy Company	-	-	-	1,366
Net increase (decrease) in cash and cash equivalents,including restricted amounts	437	-70	66	-294
Cash and cash equivalents at beginning of period	178	248	182	476
Cash and cash equivalents at end of period	615	178	248	182

Unit: Million (M) dollars

MyFinsight

Cash Flow Overview

Change in Cash
$437M

Time Plot

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Cash Flow Overview

Change in Cash
$437M

Time Plot

Show the time plot by selecting a row from the table.

Cash Flow Overview

Change in Cash$437M

Time Plot

Show the time plot by selecting a row from the table.

Cash Flow Overview

Change in Cash$437M

Time Plot

Show the time plot by selecting a row from the table.

Change in Cash
$437M

Change in Cash
$437M