v3.25.4

Earnings Per Share - CMS Energy (Tables) | 12 Months Ended
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Dec. 31, 2025
Earnings Per Share [Abstract] |
Summary of Basic and Diluted EPS Computations | Presented in the following table are CMS Energy’s basic and diluted EPS computations based on income from continuing operations:
In Millions, Except Per Share Amounts
Years Ended December 31 |  |  |  | 2025 | 2024 | 2023
Income available to common stockholders |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  |  |  |  |  |  | $ | 1,002 |  |  | $ | 947 |  |  | $ | 807 |
Less loss attributable to noncontrolling interests |  |  |  |  |  |  | (69) |  |  | (56) |  |  | (79) |
Less preferred stock dividends |  |  |  |  |  |  | 10 |  |  | 10 |  |  | 10 |
Income from continuing operations available to common stockholders – basic and diluted |  |  |  |  |  |  | $ | 1,061 |  |  | $ | 993 |  |  | $ | 876 |
Average common shares outstanding |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares – basic |  |  |  |  |  |  | 300.4 |  |  | 297.6 |  |  | 291.2 |
Add dilutive nonvested stock awards |  |  |  |  |  |  | 0.5 |  |  | 0.7 |  |  | 0.5 |
Add dilutive forward equity sale contracts |  |  |  |  |  |  | 0.1 |  |  | — |  |  | — |
Weighted-average shares – diluted |  |  |  |  |  |  | 301.0 |  |  | 298.3 |  |  | 291.7 |
Income from continuing operations per average common share available to common stockholders |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  |  | $ | 3.53 |  |  | $ | 3.34 |  |  | $ | 3.01 |
Diluted |  |  |  |  |  |  | 3.53 |  |  | 3.33 |  |  | 3.01 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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