CMS Energy Corporation Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2025	Dec. 31, 2024
Current Assets
Cash and cash equivalents	$ 844	$ 103
Restricted cash and cash equivalents	81	75
Inventories at average cost
Gas in underground storage	402	435
Materials and supplies	305	299
Generating plant fuel stock	29	35
Deferred property taxes	324	448
Regulatory assets	132	229
Prepayments and other current assets	140	103
Total current assets	3,193	2,790
Plant, Property, and Equipment
Plant, property, and equipment, gross	35,962	34,932
Less accumulated depreciation and amortization	9,865	9,569
Plant, property, and equipment, net	26,097	25,363
Construction work in progress	2,750	2,098
Total plant, property, and equipment	28,847	27,461
Other Non‑current Assets
Regulatory assets	3,570	3,569
Accounts receivable	68	20
Investments	62	69
Postretirement benefits	1,705	1,627
Other	254	384
Total other non‑current assets	5,659	5,669
Total Assets	37,699	35,920
Current Liabilities
Current portion of long-term debt and finance leases	1,125	1,195
Notes payable	0	65
Accrued rate refunds	4	38
Accrued interest	170	156
Accrued taxes	461	654
Regulatory liabilities	93	111
Other current liabilities	197	209
Total current liabilities	3,196	3,521
Non‑current Liabilities
Long-term debt	16,781	15,194
Non-current portion of finance leases	139	112
Regulatory liabilities	4,164	4,067
Postretirement benefits	93	96
Asset retirement obligations	747	728
Deferred investment tax credit	120	122
Deferred income taxes	3,079	2,925
Other non‑current liabilities	409	407
Total non‑current liabilities	25,532	23,651
Commitments and Contingencies
Common stockholders’ equity
Common stock	3	3
Other paid-in capital	5,998	6,009
Accumulated other comprehensive loss	(41)	(41)
Retained earnings	2,210	2,035
Total common stockholders’ equity	8,170	8,006
Cumulative redeemable perpetual preferred stock	224	224
Total stockholders’ equity	8,394	8,230
Noncontrolling interests	577	518
Total equity	8,971	8,748
Total Liabilities and Equity	37,699	35,920
Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $30 in 2025 and $23 in 2024	924	1,049
Current Liabilities
Accounts payable	1,139	1,085
Related Party
Current Assets
Accounts receivable – related parties	12	14
Current Liabilities
Accounts payable	$ 7	$ 8

Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current AND Amount received for services rendered and products shipped, but not yet billed, for non-contractual agreements due within one year or the normal operating cycle, if longer.

No definition available.