XML 65 R32.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Schedule I - Condensed Financial Information of Registrant | 12 Months Ended
--- | ---
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Schedule I - Condensed Financial Information of Registrant | CMS Energy—Parent Company Condensed Statements of Income
In Millions |
Years Ended December 31 | 2018 |  | 2017 |  | 2016 |
Operating Expenses |  |  |  |  |  |
Other operating expenses |  | $ | (7 | ) |  | $ | (9 | ) |  | $ | (14 | )
Total operating expenses |  | (7 | ) |  | (9 | ) |  | (14 | )
Operating Loss |  | (7 | ) |  | (9 | ) |  | (14 | )
Other Income (Expense) |  |  |  |  |  |
Equity earnings of subsidiaries |  | 780 |  |  | 633 |  |  | 660 |
Nonoperating retirement benefits, net |  | (1 | ) |  | (1 | ) |  | (1 | )
Interest income |  | 2 |  |  | 1 |  |  | 1 |
Other income |  | — |  |  | 2 |  |  | — |
Other expense |  | (17 | ) |  | (31 | ) |  | (19 | )
Total other income |  | 764 |  |  | 604 |  |  | 641 |
Interest Charges |  |  |  |  |  |
Interest on long-term debt |  | 135 |  |  | 143 |  |  | 150 |
Intercompany interest expense and other |  | 7 |  |  | 3 |  |  | 1 |
Total interest charges |  | 142 |  |  | 146 |  |  | 151 |
Income Before Income Taxes |  | 615 |  |  | 449 |  |  | 476 |
Income Tax Benefit |  | (42 | ) |  | (11 | ) |  | (75 | )
Net Income Available to Common Stockholders |  | $ | 657 |  |  | $ | 460 |  |  | $ | 551 |
The accompanying notes are an integral part of these statements. Schedule I — Condensed Financial Information of Registrant (Continued) CMS Energy—Parent Company Condensed Statements of Cash Flows
In Millions |
Years Ended December 31 | 2018 |  | 2017 |  | 2016 |
Cash Flows from Operating Activities |  |  |  |  |  |
Net cash provided by operating activities |  | $ | 702 |  |  | $ | 433 |  |  | $ | 422 |
Cash Flows from Investing Activities |  |  |  |  |  |
Investment in subsidiaries |  | (363 | ) |  | (447 | ) |  | (275 | )
Proceeds from DB SERP investments |  | 22 |  |  | — |  |  | — |
Net cash used in investing activities |  | (341 | ) |  | (447 | ) |  | (275 | )
Cash Flows from Financing Activities |  |  |  |  |  |
Proceeds from issuance of debt |  | 560 |  |  | 799 |  |  | 603 |
Issuance of common stock |  | 41 |  |  | 83 |  |  | 72 |
Retirement of long-term debt |  | (675 | ) |  | (425 | ) |  | (530 | )
Debt prepayment costs |  | (16 | ) |  | (18 | ) |  | (18 | )
Payment of dividends on common stock |  | (405 | ) |  | (375 | ) |  | (345 | )
Debt issuance costs and financing fees |  | (8 | ) |  | (3 | ) |  | (5 | )
Change in notes payable - intercompany |  | 142 |  |  | (47 | ) |  | 76 |
Net cash provided by (used in) financing activities |  | (361 | ) |  | 14 |  |  | (147 | )
Net Increase in Cash and Cash Equivalents, Including Restricted Amounts |  | — |  |  | — |  |  | — |
Cash and Cash Equivalents, Including Restricted Amounts, Beginning of Period |  | — |  |  | — |  |  | — |
Cash and Cash Equivalents, Including Restricted Amounts, End of Period |  | $ | — |  |  | $ | — |  |  | $ | — |
The accompanying notes are an integral part of these statements. Schedule I — Condensed Financial Information of Registrant (Continued) CMS Energy—Parent Company Condensed Balance Sheets
ASSETS
In Millions |
December 31 | 2018 |  | 2017 |
Current Assets |  |  |  |
Notes and accrued interest receivable |  | $ | 2 |  |  | $ | 5 |
Accounts receivable - intercompany and related parties |  | 7 |  |  | 7 |
Federal income tax receivable |  | 44 |  |  | 77 |
Accrued taxes |  | 26 |  |  | 57 |
Prepayments and other current assets |  | 1 |  |  | 1 |
Total current assets |  | 80 |  |  | 147 |
Other Non-current Assets |  |  |  |
Deferred income taxes |  | 180 |  |  | 269 |
Investments in subsidiaries |  | 7,706 |  |  | 7,202 |
Other investments – DB SERP |  | 3 |  |  | 25 |
Other |  | 10 |  |  | 2 |
Total other non-current assets |  | 7,899 |  |  | 7,498 |
Total Assets |  | $ | 7,979 |  |  | $ | 7,645 |
LIABILITIES AND EQUITY
In Millions |
December 31 | 2018 |  | 2017 |
Current Liabilities |  |  |  |
Current portion of long-term debt |  | $ | 180 |  |  | $ | 225 |
Accounts and notes payable - intercompany |  | 113 |  |  | 87 |
Accrued interest, including intercompany |  | 32 |  |  | 34 |
Other current liabilities |  | 7 |  |  | 5 |
Total current liabilities |  | 332 |  |  | 351 |
Non-current Liabilities |  |  |  |
Long-term debt |  | 2,750 |  |  | 2,830 |
Notes payable - intercompany |  | 116 |  |  | — |
Postretirement benefits |  | 17 |  |  | 21 |
Other non-current liabilities |  | 9 |  |  | 2 |
Total non-current liabilities |  | 2,892 |  |  | 2,853 |
Equity |  |  |  |
Common stockholders’ equity |  | 4,755 |  |  | 4,441 |
Total Liabilities and Equity |  | $ | 7,979 |  |  | $ | 7,645 |
The accompanying notes are an integral part of these statements. 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. Guarantees CMS Energy has issued guarantees with a maximum potential obligation of $433 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 agreements entered into with CMS ERM
• | to third parties under certain agreements entered into with Grand River Wind LLC, a wholly owned subsidiary of CMS Enterprises
• | 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 U.S. Department of Energy on behalf of Consumers, in connection with Consumers’ 2011 settlement agreement with the U.S. Department of Energy regarding damages resulting from the department’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. Note Payable—Intercompany In July 2018, CMS Energy issued a demand note payable to the DB SERP rabbi trust, of which $124 million was attributable to CMS Energy’s subsidiaries. The demand note bears interest at an annual rate of 4.10 percent and has a maturity date of 2028. This note payable is not recorded at fair value; however, its carrying value approximates fair value at December 31, 2018. This fair value measurement is classified in Level 3 within the fair value hierarchy.

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration