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Schedule I - Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2015
Schedule I - Condensed Financial Information of Registrant [Abstract] |
Schedule I - Condensed Financial Information of Registrant | CMS Energy Corporation Schedule I – Condensed Financial Information of Registrant CMS Energy—Parent Company Condensed Statements of Income
In Millions
Years Ended December 31 | 2015 | 2014 | 2013 |
Operating Expenses |  |  |  |  |  |  |  |  |  |
Other operating expenses |  | $ | (9) |  | $ | (6) |  | $ | (6) |
Total operating expenses |  |  | (9) |  |  | (6) |  |  | (6) |
Operating Loss |  |  | (9) |  |  | (6) |  |  | (6) |
Other Income (Expense) |  |  |  |  |  |  |  |  |  |
Equity earnings of subsidiaries |  |  | 625 |  |  | 585 |  |  | 566 |
Interest income |  |  | 1 |  |  | 1 |  |  | 1 |
Other expense |  |  | (9) |  |  | (20) |  |  | (8) |
Total other income |  |  | 617 |  |  | 566 |  |  | 559 |
Interest Charges |  |  |  |  |  |  |  |  |  |
Interest on long-term debt |  |  | 134 |  |  | 150 |  |  | 148 |
Intercompany interest expense and other |  |  | 3 |  |  | 2 |  |  | 3 |
Total interest charges |  |  | 137 |  |  | 152 |  |  | 151 |
Income Before Income Taxes |  |  | 471 |  |  | 408 |  |  | 402 |
Income Tax Benefit |  |  | (52) |  |  | (69) |  |  | (50) |
Net Income Available to Common Stockholders |  | $ | 523 |  | $ | 477 |  | $ | 452 |
The accompanying notes are an integral part of these statements.
CMS Energy Corporation Schedule I – Condensed Financial Information of Registrant CMS Energy—Parent Company Condensed Statements of Cash Flows
In Millions
Years Ended December 31 | 2015 | 2014 | 2013 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 523 |  | $ | 477 |  | $ | 452 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |
Equity earnings of subsidiaries |  |  | (625) |  |  | (585) |  |  | (566) |
Dividends received from subsidiaries |  |  | 499 |  |  | 544 |  |  | 435 |
Deferred income taxes |  |  | (24) |  |  | 30 |  |  | 48 |
Cash provided by (used in) changes in assets and liabilities |  |  |  |  |  |  |  |  |  |
Accounts and notes receivable |  |  | (86) |  |  | (3) |  |  | (3) |
Accounts payable |  |  | 16 |  |  | (2) |  |  | 2 |
Accrued taxes |  |  | (115) |  |  | 97 |  |  | 48 |
Other current and non‑current assets and liabilities |  |  | 21 |  |  | 31 |  |  | 18 |
Net cash provided by operating activities |  |  | 209 |  |  | 589 |  |  | 434 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries |  |  | (150) |  |  | (495) |  |  | (150) |
Return of capital |  |  | - |  |  | 178 |  |  | - |
Net cash used in investing activities |  |  | (150) |  |  | (317) |  |  | (150) |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of long-term debt |  |  | 349 |  |  | 550 |  |  | 275 |
Issuance of common stock |  |  | 43 |  |  | 43 |  |  | 36 |
Retirement of long-term debt |  |  | (100) |  |  | (547) |  |  | (275) |
Payment of dividends on common stock |  |  | (320) |  |  | (293) |  |  | (271) |
Debt issuance costs and financing fees |  |  | (3) |  |  | (6) |  |  | (4) |
Decrease in notes payable |  |  | (28) |  |  | (19) |  |  | (47) |
Net cash used in financing activities |  |  | (59) |  |  | (272) |  |  | (286) |
Net Decrease in Cash and Cash Equivalents |  |  | - |  |  | - |  |  | (2) |
Cash and Cash Equivalents, Beginning of Period |  |  | - |  |  | - |  |  | 2 |
Cash and Cash Equivalents, End of Period |  | $ | - |  | $ | - |  | $ | - |
The accompanying notes are an integral part of these statements.
CMS Energy Corporation Schedule I – Condensed Financial Information of Registrant CMS Energy—Parent Company Condensed Balance Sheets
ASSETS |  |  |  |  |  |  |
In Millions
December 31 | 2015 | 2014 |
Current Assets |  |  |  |  |  |  |
Notes and accrued interest receivable |  | $ | 88 |  | $ | 2 |
Accounts receivable, including intercompany and related parties |  |  | 9 |  |  | 9 |
Total current assets |  |  | 97 |  |  | 11 |
Plant, Property, and Equipment |  |  |  |  |  |  |
Plant, property, and equipment, gross |  |  | 16 |  |  | 16 |
Less accumulated depreciation and amortization |  |  | 16 |  |  | 16 |
Total plant, property, and equipment |  |  | - |  |  | - |
Other Non-current Assets |  |  |  |  |  |  |
Deferred income taxes |  |  | 340 |  |  | 317 |
Investments in subsidiaries |  |  | 6,240 |  |  | 5,961 |
Other investments – DB SERP |  |  | 26 |  |  | 22 |
Other |  |  | 23 |  |  | 23 |
Total other non‑current assets |  |  | 6,629 |  |  | 6,323 |
Total Assets |  | $ | 6,726 |  | $ | 6,334 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |
In Millions
December 31 | 2015 | 2014 |
Current Liabilities |  |  |  |  |  |  |
Accounts and notes payable, including intercompany and related parties |  | $ | 74 |  | $ | 86 |
Accrued interest, including intercompany |  |  | 38 |  |  | 37 |
Accrued taxes |  |  | 23 |  |  | 138 |
Other current liabilities |  |  | 5 |  |  | 4 |
Total current liabilities |  |  | 140 |  |  | 265 |
Non-current Liabilities |  |  |  |  |  |  |
Long-term debt |  |  | 2,630 |  |  | 2,380 |
Unamortized discount |  |  | (7) |  |  | (7) |
Postretirement benefits |  |  | 22 |  |  | 24 |
Other non‑current liabilities |  |  | 3 |  |  | 2 |
Total non‑current liabilities |  |  | 2,648 |  |  | 2,399 |
Equity |  |  |  |  |  |  |
Common stockholders’ equity |  |  | 3,938 |  |  | 3,670 |
Total Liabilities and Equity |  | $ | 6,726 |  | $ | 6,334 |
The accompanying notes are an integral part of these statements.
CMS Energy Corporation Schedule I – Condensed Financial Information of Registrant CMS Energy—Parent Company Notes to the Condensed Financial Statements 1:Basis of Presentation CMS Energy’s condensed financial statements have been prepared on a parent-only basis. In accordance with Rule 12‑04 of Regulation S‑X, these parent-only financial statements do not include all of the information and notes required by GAAP for annual financial statements, and therefore these parent-only financial statements and other information included should be read in conjunction with CMS Energy’s audited consolidated financial statements contained within Item 8. Financial Statements and Supplementary Data. 2:Guarantees CMS Energy has issued guarantees with a maximum potential obligation of $328 million on behalf of some of its wholly owned subsidiaries and related parties. CMS Energy’s maximum potential obligation consists primarily of potential payments:
| · |  | to third parties under certain commodity purchase and swap agree ments entered into with CMS ERM
| · |  | to third parties in support of non‑recourse revenue bonds issued by Genesee
| · |  | to the MDEQ on behalf of CMS Land and CMS Capital, for environmental remediation obligations at Bay Harbor
| · |  | to the DOE on behalf of Consumers, in connection with Consumers’ 2011 settlement agreement with the DOE regarding damages resulting from the DOE’s failure to accept spent nuclear fuel from nuclear power plants formerly owned by Consumers
The expiry dates of these guarantees vary, depending upon contractual provisions or upon the statute of limitations under the relevant governing law.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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