CMS Energy is an American company that focuses on providing electric, natural gas, and independent power generation.
The company is based in Jackson, Michigan.
It is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘CMS’.
CMS Energy conducts its business through its two main subsidiaries:
Consumers Energy: this segment provides electric and natural gas utility services to 6.6 million people in the state of Michigan – in all 68 Lower Peninsula counties of the state. Consumers has been active since 1886.
CMS Enterprises: this segment operates the non-utility businesses of CMS Energy. It is a prominent independent power generator, with ownership interest in seven generating plants in Michigan and North Carolina, fueled mostly by natural gas and biomass, including: Dearborn Industrial Generation, Filer City Station, Genesee Power Station, Grayling Generating Station, Kalamazoo River Generating Station, Livingston Generating Station, and Craven County Wood Energy.
CMS Energy was formed as a corporation in Michigan in 1987. It has reported operating revenue of $6.6 billion in 2013, $6.3 billion in 2012, and $6.5 billion in 2011.
Overview
- President and CEO: John G. Russell
- Type: Public
- Industry: Utility
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: CMS
- S&P 500 Component
- Revenue: $6.6 billion USD (2013)
- Net income: $454 million USD (2013)
- Diluted earnings per share: $1.66 USD (2013)
- Employees: 7,781 (2013)
- Corporate headquarters: One Energy Plaza, Jackson, Michigan 49201, USA
- Corporate contact number: (517) 788-0550
- Investor relations email address: [email protected]
- Website: http://www.cmsenergy.com/
| Operating data (in $ millions) | 2013 | 2012 |
| Operating Revenue | $6,566 | $6,253 |
| Fuel for electric generation | $621 | $598 |
| Purchased and interchange power | $1,387 | $1,364 |
| Purchased power – related parties | $90 | $87 |
| Cost of gas sold | $1,228 | $1,150 |
| Maintenance and other operating expenses | $1,236 | $1,224 |
| Depreciation and amortization | $628 | $598 |
| General taxes | $234 | $229 |
| Total operating expenses | $5,424 | $5,250 |
| Income data (in $ millions) | ||
| Operating income | $1,142 | $1,003 |
| Total other income | $12 | $8 |
| Total interest charges | $(398) | $(389) |
| Income Before Income Taxes | $756 | $622 |
| Income Tax Expense | $302 | $245 |
| Income From Continuing Operations | $454 | $377 |
| Income From Discontinued Operations, Net of Tax | – | $7 |
| Net income | $454 | $384 |
| Net Income Available to Common Stockholders | $452 | $382 |
| Balance sheet data (in $ millions) | ||
| Total assets | $17,416 | $17,131 |
| Long-term debt | $7,101 | $6,710 |
| Total equity | $3,491 | $3,238 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $1,421 | $1,241 |
| Net cash used in investing activities | $(1,532) | $(1,350) |
| Net cash used in financing activities | $190 | $41 |
| Cash and cash equivalents at end of year | $172 | $93 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $1.71 | $1.46 |
| Diluted earnings (loss) per common share | $1.66 | $1.42 |
Source: “CMS Energy 2013 Form 10-K Annual Report”