CMS ENERGY CORPORATION
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.07B | $1.00B | $887.0M | $837.0M | $1.35B | $755.0M | $680.0M | $657.0M |
| Depreciation & Amortization | $1.31B | $1.24B | $1.18B | $1.13B | $1.11B | $1.04B | $989.0M | $933.0M |
| Depreciation | $1.10B | $1.04B | $1.05B | $990.0M | $975.0M | $901.0M | $841.0M | $778.0M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $2.24B | $2.37B | $2.31B | $855.0M | $1.82B | $1.28B | $1.79B | $1.70B |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | $2.37B | $2.08B | $2.31B | $2.10B | $2.07B |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-4.04B | $-3.05B | $-3.39B | $-2.48B | $-1.23B | $-2.87B | $-2.82B | $-2.61B |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $2.24B | $614.0M | $1.14B | $1.33B | $-295.0M | $1.62B | $1.01B | $874.0M |
| Net Change in Cash | $437.0M | $-70.0M | $66.0M | $-294.0M | $291.0M | $28.0M | $-18.0M | $-29.0M |
| Free Cash Flow | — | — | — | $-1.52B | $-257.0M | $-1.04B | $-307.0M | $-371.0M |