CMS Energy Corporation Consolidated Balance Sheets (Unaudited) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 241	$ 509
Restricted cash and cash equivalents	104	106
Inventories at average cost
Gas in underground storage	414	427
Materials and supplies	345	329
Generating plant fuel stock	65	35
Deferred property taxes	350	479
Regulatory assets	81	104
Prepayments and other current assets	243	160
Total current assets	2,866	3,472
Plant, Property, and Equipment
Plant, property, and equipment, gross	39,227	37,763
Less accumulated depreciation and amortization	10,496	10,135
Plant, property, and equipment, net	28,731	27,628
Construction work in progress	3,598	3,052
Total plant, property, and equipment	32,329	30,680
Other Non‑current Assets
Regulatory assets	3,274	3,355
Accounts receivable	18	18
Investments	63	61
Postretirement benefits	2,053	1,957
Other	302	398
Total other non‑current assets	5,710	5,789
Total Assets	40,905	39,941
Current Liabilities
Current portion of long-term debt and finance leases	870	956
Accrued rate refunds	0	28
Accrued interest	183	182
Accrued taxes	498	708
Regulatory liabilities	96	85
Other current liabilities	187	185
Total current liabilities	3,063	3,548
Non‑current Liabilities
Long-term debt	18,172	17,807
Non-current portion of finance leases	259	135
Regulatory liabilities	4,152	4,091
Postretirement benefits	93	95
AROs	808	792
Deferred investment tax credit	116	118
Deferred income taxes	3,399	3,252
Other non‑current liabilities	444	392
Total non‑current liabilities	27,443	26,682
Commitments and Contingencies (Notes 2, 3, and 8)
Common stockholders’ equity
Common stock	3	3
Other paid-in capital	7,036	6,510
Accumulated other comprehensive loss	(35)	(36)
Retained earnings	2,546	2,443
Total common stockholders’ equity	9,550	8,920
Cumulative redeemable perpetual preferred stock	224	224
Total stockholders’ equity	9,774	9,144
Noncontrolling interests	625	567
Total equity	10,399	9,711
Total Liabilities and Equity	$ 40,905	$ 39,941
Common stock authorized (in shares)	700.0	350.0
Nonrelated Party
Current Assets
Accounts receivable and accrued revenue, less allowance of $32 in 2026 and $27 in 2025	$ 1,008	$ 1,306
Current Liabilities
Accounts payable	1,223	1,395
Related Party
Current Assets
Accounts receivable – related parties	15	17
Current Liabilities
Accounts payable	$ 6	$ 9

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.