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Cms Energy Corp (CMS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Cms Energy Corp

CIK: 811156 Ticker: CMS

Exhibit 99.1

 

 

CMS ENERGY ANNOUNCES 2015 EARNINGS OF $1.89 PER SHARE;

RAISES 2016 EARNINGS OUTLOOK TO A RANGE OF $1.99 TO $2.02 PER SHARE

 

·                  Meets 7% high end of earnings forecast for 2015

 

·                  Offers 2016 earnings per share guidance of 5% to 7% earnings growth

 

·                  Expands 10-year capital expenditures plan from $15.5 billion to $17 billion

 

·                  Raises earnings per share guidance beginning in 2017 to 6% to 8%

 

JACKSON, Mich., February 4, 2016 — CMS Energy announced today net income of $106 million, or $0.38 per share, for the fourth quarter of 2015, compared to $96 million, or $0.35 per share, for the same quarter of 2014.

 

For 2015, CMS Energy’s net income is $523 million, or $1.89 per share, compared to $477 million, or $1.74 per share for 2014. Adjusted net income in 2015 was also $523 million, or $1.89 per share at the high end of guidance, compared to $486 million or $1.77 per share for 2014.

 

CMS Energy raised guidance for 2016 earnings to $1.99 to $2.02 per share, building, as always over the last 13 years, on the company’s actual high-end performance.

 

The company also increased its projected spending on capital expenditures over the next 10 years from $15.5 billion to $17 billion. The additional spending enables CMS Energy to increase its earnings per share guidance to 6% to 8%, starting in 2017.

 

“The future looks bright for CMS. Our 10-year plan now includes $17 billion of needed capital investment projects to further improve customer service, including upgrading infrastructure, improving reliability and making renewable energy investments,” said John Russell, CMS Energy’s president and chief executive officer.

 

“Our unique business model has worked well for more than a decade and we expect it will continue going forward. Our earnings per share (EPS) guidance for 2016 has been raised to $1.99 to $2.02, up 5% to 7% over last year. In 2017, EPS is expected to increase by 6% to 8% over 2016 actual EPS while ensuring that residential customer bills remain below the national average.”

 


The following information was filed by Cms Energy Corp (CMS) on Thursday, February 4, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Income
Asset Retirement Obligations
Asset Retirement Obligations (details)
Asset Retirement Obligations (tables)
Contingencies And Commitments
Contingencies And Commitments (contingencies And Commitments) (details)
Contingencies And Commitments (expected Remediation Cost By Year) (details)
Contingencies And Commitments (guarantees) (details)
Contingencies And Commitments (tables)
Earnings Per Share - Cms Energy
Earnings Per Share - Cms Energy (basic And Diluted Eps Computations) (details)
Earnings Per Share - Cms Energy (tables)
Fair Value Measurements
Fair Value Measurements (assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Level 3 Inputs) (details)
Fair Value Measurements (assets And Liabilties Measured At Fair Value On A Recurring Basis) (details)
Fair Value Measurements (tables)
Financial Instruments
Financial Instruments (narrative) (details)
Financial Instruments (schedule Of Carrying Amounts And Fair Values Of Financial Instruments) (details)
Financial Instruments (schedule Of Investment Securities) (details)
Financial Instruments (summary Of The Sales Activity For Investment Securities) (details)
Financial Instruments (tables)
Financings And Capitalization
Financings And Capitalization (debt Maturities) (details)
Financings And Capitalization (major Long-term Debt Transactions) (details)
Financings And Capitalization (narrative) (details)
Financings And Capitalization (preferred Stock Of Subsidiary) (details)
Financings And Capitalization (revolving Credit Facilities) (details)
Financings And Capitalization (summary Of Long-term Debt Outstanding) (details)
Financings And Capitalization (tables)
Income Taxes
Income Taxes (loss And Credit Carryforwards) (details)
Income Taxes (narrative) (details)
Income Taxes (policy)
Income Taxes (principal Components Of Deferred Income Tax Assets And Liabilities) (details)
Income Taxes (reconciliation Of Beginning And Ending Uncertain Tax Benefits) (details)
Income Taxes (schedule Of Effective Income Tax Rate Reconciliation) (details)
Income Taxes (significant Components Of Income Tax Expense) (details)
Income Taxes (tables)
Leases
Leases (narrative) (details)
Leases (schedule Of Future Minimum Lease Payments For Leases) (details)
Leases (schedule Of Rent Expense) (details)
Leases (tables)
New Accounting Standards
New Accounting Standards (details)
Notes Receivable
Notes Receivable (narrative) (details)
Notes Receivable (policy)
Notes Receivable (schedule Of Allowance For Loan Losses) (details)
Notes Receivable (schedule Of Current And Non-current Notes Receivable) (details)
Notes Receivable (tables)
Other Income And Other Expense
Other Income And Other Expense (details)
Other Income And Other Expense (tables)
Plant, Property, And Equipment
Plant, Property, And Equipment (jointly Owned Regulated Utility Facilities) (details)
Plant, Property, And Equipment (narrative) (details)
Plant, Property, And Equipment (plant, Property, And Equipment Table) (details)
Plant, Property, And Equipment (public Utilities Property Plant And Equipment Schedule Of Accumulated Depreciation And Amortization) (details)
Plant, Property, And Equipment (public Utilities Property Plant And Equipment Schedule Of Composite Depreciation Rate Table) (details)
Plant, Property, And Equipment (public Utilities, Allowance For Funds Used During Construction, Schedule Of Composite Rate Table) (details)
Plant, Property, And Equipment (schedule Of Capital Leased Asssets) (details)
Plant, Property, And Equipment (schedule Of Depreciation And Amortization Expense) (details)
Plant, Property, And Equipment (schedule Of Finite-lived Intangible Assets By Major Class Table) (details)
Plant, Property, And Equipment (tables)
Quarterly Financial And Common Stock Information
Quarterly Financial And Common Stock Information (details)
Quarterly Financial And Common Stock Information (tables)
Regulatory Matters
Regulatory Matters (narrative) (details)
Regulatory Matters (schedule Of The Components Of Pscr And Gcr Over/(under) Recoveries) (details)
Regulatory Matters (schedule Of The Components Of Regulatory Assets And Liabilities) (details)
Regulatory Matters (tables)
Related Party Transactions - Consumers
Related Party Transactions - Consumers (details)
Related Party Transactions - Consumers (tables)
Reportable Segments
Reportable Segments (details)
Reportable Segments (tables)
Retirement Benefits
Retirement Benefits (narrative) (details)
Retirement Benefits (schedule Of Accumulated And Projected Benefit Obligations) (details)
Retirement Benefits (schedule Of Allocation Of Plan Assets) (details)
Retirement Benefits (schedule Of Assumptions Used) (details)
Retirement Benefits (schedule Of Benefit Obligations In Excess Of Fair Value Of Plan Assets) (details)
Retirement Benefits (schedule Of Effect Of One-percentage-point Change In Assumed Health Care Cost Trend Rates) (details)
Retirement Benefits (schedule Of Expected Benefit Payments) (details)
Retirement Benefits (schedule Of Net Benefit Costs) (details)
Retirement Benefits (schedule Of Net Loss And Prior Service Cost (credit) That Will Be Amortized In 2015) (details)
Retirement Benefits (schedule Of Net Periodic Benefit Cost Not Yet Recognized) (details)
Retirement Benefits (schedule Of Plan Contributions) (details)
Retirement Benefits (schedule Of Pooled Funds Components) (details)
Retirement Benefits (schedule Of Retirement Benefit Plan Assets (liabilities)) (details)
Retirement Benefits (schedule Of Serp Trust Assets, Abo And Contributions) (details)
Retirement Benefits (tables)
Schedule I - Condensed Financial Information Of Registrant
Schedule I - Condensed Financial Information Of Registrant (condensed Balance Sheets) (details)
Schedule I - Condensed Financial Information Of Registrant (condensed Statements Of Cash Flows) (details)
Schedule I - Condensed Financial Information Of Registrant (condensed Statements Of Income) (details)
Schedule I - Condensed Financial Information Of Registrant (narrative) (details)
Schedule Ii - Valuation And Qualifying Accounts And Reserves
Schedule Ii - Valuation And Qualifying Accounts And Reserves (details)
Significant Accounting Policies
Significant Accounting Policies (details)
Significant Accounting Policies (policy)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (schedule Of Compensation Cost For Share-based Payment Arrangements, Allocation Of Share-based Compensation Costs By Plan) (details)
Stock-based Compensation (schedule Of Restricted Stock Activity) (details)
Stock-based Compensation (schedule Of Restricted Stock Granted) (details)
Stock-based Compensation (schedule Of Share-based Payment Award, Restricted Stock, Valuation Assumptions) (details)
Stock-based Compensation (share-based Compensation Arrangement By Share-based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value) (details)
Stock-based Compensation (tables)
Variable Interest Entities
Variable Interest Entities (narrative) (details)
Variable Interest Entities (schedule Of Partnerships) (details)
Variable Interest Entities (tables)
Ticker: CMS
CIK: 811156
Form Type: 10-K Annual Report
Accession Number: 0001104659-16-095725
Submitted to the SEC: Thu Feb 11 2016 9:30:53 AM EST
Accepted by the SEC: Thu Feb 11 2016
Period: Thursday, December 31, 2015
Industry: Electric And Other Services Combined

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