File No. 069-00333
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2/A
AMENDMENT NO. 1
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER
RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935
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TO BE FILED ANNUALLY PRIOR TO MARCH 1
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CMS ENERGY CORPORATION
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
March 31, 2004
EXPLANATORY NOTE
This Form U-3A-2/A amends the Form U-3A-2 that was filed on February 27,
2004. This amendment includes the consolidated financial statements on Exhibit
A that were omitted from the Form U-3A-2 filed on February 27, 2004.
NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT
AND EVERY SUBSIDIARY THEREOF, OTHER THAN ANY EXEMPT WHOLESALE GENERATOR
(EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR INDIRECTLY
HOLDS AN INTEREST.
Claimant has listed EWGs, identified by an asterisk (*) and foreign utility
companies (FUCOs), identified by double asterisk (**) in order to maintain the
continuity of the organizational chart.
For the purpose of this filing CMS Energy will address the information requested
in section 1 under the headings of CMS Energy Corporation (Tier 1), CMS
Enterprises Company (Tier 2) and Consumers Energy Company (Tier 2). As CMS
Energy discusses in detail below, CMS Energy Corporation is the parent company
for CMS Enterprises Company and Consumers Energy Company. All ownership
interests are 100% unless indicated parenthetically to the contrary.
01 CMS ENERGY CORPORATION
Address:
One Energy Plaza
Jackson, Michigan 49201
CMS Energy Corporation ("CMS Energy") was duly incorporated under the laws
of the State of Michigan in 1987. CMS Energy is an approximately $5.4
billion (sales) energy company with subsidiaries engaged in electric
utility operations, gas utility operations, the acquisition, development
and operation of independent power production facilities, energy trading
and the transportation, storage and marketing of natural gas.
The name, state of organization and nature of business of CMS Energy's
direct subsidiaries are described below:
02 CMS Enterprises Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Enterprises Company is a Michigan corporation that owns
subsidiaries engaged in the development, acquisition and management
of energy-related businesses and projects worldwide.
02 Consumers Energy Company
Address: One Energy Plaza
Jackson, Michigan 49201
Consumers Energy Company is a Michigan corporation engaged in the
generation, purchase, distribution and sale of electricity, and in
the purchase, storage, distribution and sale of natural gas, in the
lower peninsula of the State of Michigan.
THE NAME, STATE OF ORGANIZATION AND NATURE OF BUSINESS OF EACH SUBSIDIARY AND
THEIR SUBSIDIARIES ARE DESCRIBED BELOW:
02 CMS ENTERPRISES COMPANY
Address:
One Energy Plaza
Jackson, Michigan 49201
03 CMS Business Development LLC
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Business Development LLC is a Texas limited liability
company formed as a holding company for employees engaged in the
business of project development in North America, effective
January 1, 2002.
03 CMS Capital, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Capital, L.L.C. is a Michigan limited liability company
formed to assist in securing financing for CMS Energy
Corporation and its subsidiaries and affiliates.
04 CMS Capital Financial Services, Inc.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Capital Financial Services, Inc. is a Michigan
corporation engaged in the business of making loans to
homeowners and small businesses for energy related goods
or services.
04 EnerBank, USA
Address: One Energy Plaza
Jackson, Michigan 49201
EnerBank, USA is a Utah corporation engaged in the
business of an "industrial loan corporation" to issue
thrift certificates of deposit and thrift savings accounts
for the payment of money, to issue capital notes or
debentures to receive payments with or without allowance
for interest.
03 CMS Comercializadora de Energia S.A. (98.52%)
Address: Edificio Torre Catalinas Plaza, Ing. Enrique Butty 220
8 Piso (Av. E. Madero Alt. 800/900) (1300)
Buenos Aires, Argentina
CMS Comercializadora de Energia S.A. is an Argentine corporation
engaged in gas and electric marketing operations in Argentina.
03 *CMS Distributed Power, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Distributed Power, L.L.C is a Michigan limited liability
company formed for the purpose of aggregating the output from
multiple generators to have power available on demand.
03 CMS Energy Asia Private Limited (Singapore)
Address: Block 94C #09-2391 Bedok
North Avenue 4
Singapore 462094
CMS Energy Asia Private Limited is a Singapore corporation
involved in the development of electrical generation and
distribution opportunities, gas transmission, storage and
distribution opportunities, electrical and gas marketing
opportunities and development opportunities in Asia and the
Pacific Rim.
04 CMS Energy India Pte Ltd (India) (99%)
Address: Oxford Center, 1st Floor #66
Sir C P Ramaswamy Road
Alwarpet, Chennai 600 018 India
CMS Energy India Private Limited is an Indian corporation
formed to pursue development opportunities in India.
03 CMS Energy India Pte Ltd (India) (1%)
Address: Oxford Center, 1st Floor #66
Sir C P Ramaswamy Road
Alwarpet, Chennai 600 018 India
CMS Energy India Private Limited is an Indian corporation formed
to pursue development opportunities in India.
03 CMS Energy South America Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Energy South America Company is a Cayman Islands corporation
formed to provide for consolidation of the development expenses
and activity in Argentina and Brazil.
04 CMS Enterprises Development Company S.A. (99.99%)
Address: Edificio Torre Catalinas Plaza, Ing.
Enrique Butty 220
8(Degree) Piso (Av. E. Madero Alt.
800/900) (1300)
Buenos Aires, Argentina
CMS Enterprises Development Company S.A. is an Argentine
corporation formed to handle development work in
Argentina.
03 CMS Energy UK Limited
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Energy UK Limited is a United Kingdom limited liability
company involved in the development of energy-related businesses
and projects in Europe, Africa and the Middle East.
03 CMS Enterprises Development, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Enterprises Development, L.L.C. is a Michigan limited
liability company formed to invest in various projects.
03 CMS Enterprises Holding Company S.A. (99.99%)
Address: Edificio Torre Catalinas Plaza
Ing. Enrique Butty 220
8(Degree) Piso (Av. E. Madero Alt. 800/900) (1300)
Buenos Aires, Argentina
CMS Enterprises Holding Company S.A. is an Argentine corporation
formed as a holding corporation.
03 CMS Gas Transmission Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Gas Transmission Company is a Michigan corporation organized
to engage in the transmission, storage and processing of natural
gas.
04 Atlantic Methanol Capital Company (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Atlantic Methanol Capital Company is a Cayman Islands
corporation formed to assist in the financing relating to
an Equatorial Guinea methanol plant that has subsequently
been sold.
05 CMS Methanol Company (40%)
04 CMS Energy Investment L.L.C. (70%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Energy Investment L.L.C. is a Delaware limited
liability company that acts as a holding company of CMS
Energy's interests in the Loy Yang and Michigan Gas
Transmission assets.
05 CMS Antrim Gas LLC
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Antrim Gas LLC is a Michigan limited liability
company formed for the purpose of owning and
operating the central carbon dioxide removal plant in
Otsego County, Michigan.
05 CMS Bay Area Pipeline, LLC
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Bay Area is a Michigan limited liability company
formed for the purpose of limiting and avoiding
confusion with the pipeline system owned by MCN.
05 CMS Grands Lacs LLC
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Grands Lacs LLC is a Michigan limited liability
company and owner of various natural gas pipelines in
Northern Michigan.
05 CMS Jackson L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Jackson L.L.C. is a Michigan limited liability
company involved as a 75% General Partner in Jackson
Pipeline Company, a Michigan general partnership.
05 CMS Litchfield LLC
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Litchfield LLC is a Michigan limited liability
company that holds interests in the Litchfield
Pipeline project.
05 CMS Special Member Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Special Member Company is a Delaware corporation
which is a special member of: CMS Energy Investment
L.L.C., Loy Yang Holdings No. 1 LLC, Loy Yang
Holdings No. 2 LLC, Loy Yang Holdings No. 3 LLC and
Loy Yang Holdings No. 4 LLC.
05 Loy Yang Holdings No. 1 LLC (86%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 1 LLC is a Delaware limited
liability company that holds a beneficial interest in
a trust that owns an interest in the Loy Yang
project.
06 Loy Yang Holdings Unit Trust No. 1 LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings Unit Trust No. 1 LLC is a
Delaware limited liability company that acts as
a trustee of a trust involved in the Loy Yang
project.
07 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a
Cayman Islands corporation involved as a
holding company for CMS Generation Co.'s
overseas investments that engage in the
construction, ownership or operation of the
Loy Yang power project.
08 CMS Generation Loy Yang Holdings 1
Ltd.
09 **Horizon Energy Holdings Ltd.
10 **Loy Yang Power Partners
(24.63%)
10 Loy Yang Power Projects Pty
Ltd (24.6%)
10 Loy Yang Power Management
Pty Ltd (24.6%)
08 CMS Generation Loy Yang Holdings 2
Ltd.
09 **CMS Generation Horizon Energy
Holdings Ltd.
10 Loy Yang Power Management
Pty Ltd (25%)
10 **Loy Yang Power Partners
(25%)
10 Loy Yang Power Projects Pty
Ltd (25%)
05 Loy Yang Holdings No. 2 LLC (86%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 2 LLC is a Delaware limited
liability company that holds a beneficial interest in
a trust that owns an interest in the Loy Yang
project.
06 Loy Yang Holdings Unit Trust No. 1 LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings Unit Trust No. 1 LLC is a
Delaware limited liability company that acts as
a trustee of a trust involved in the Loy Yang
project.
07 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a
Cayman Islands corporation involved as a
holding company for CMS Generation Co.'s
overseas investments that engage in the
construction, ownership or operation of the
Loy Yang power project.
08 CMS Generation Loy Yang Holdings 1
Ltd.
09 **Horizon Energy Holdings Ltd.
10 **Loy Yang Power Partners
(24.63%)
10 Loy Yang Power Projects Pty
Ltd (24.6%)
10 Loy Yang Power Management
Pty Ltd (24.6%)
08 CMS Generation Loy Yang Holdings 2
Ltd.
09 **CMS Generation Horizon Energy
Holdings Ltd.
10 Loy Yang Power Management
Pty Ltd (25%)
10 **Loy Yang Power Partners
(25%)
10 Loy Yang Power Projects Pty
Ltd (25%)
05 Loy Yang Holdings No. 3 LLC (86%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 3 LLC is a Delaware limited
liability company that holds a beneficial interest in
a trust that owns an interest in the Loy Yang
project.
06 Loy Yang Holdings Unit Trust No. 2 LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings Unit Trust No. 2 LLC is a
Delaware limited liability company that acts as
a trustee of a trust involved in the Loy Yang
project.
07 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a
Cayman Islands corporation involved as a
holding company for CMS Generation Co.'s
overseas investments that engage in the
construction, ownership or operation of the
Loy Yang power project.
08 CMS Generation Loy Yang Holdings 1
Ltd.
09 **Horizon Energy Holdings Ltd.
10 **Loy Yang Power Partners
(24.63%)
10 Loy Yang Power Projects Pty
Ltd (24.6%)
10 Loy Yang Power Management
Pty Ltd (24.6%)
08 CMS Generation Loy Yang Holdings 2
Ltd.
09 **CMS Generation Horizon Energy
Holdings Ltd.
10 Loy Yang Power Management
Pty Ltd (25%)
10 **Loy Yang Power Partners
(25%)
10 Loy Yang Power Projects Pty
Ltd (25%)
05 Loy Yang Holdings No. 4 LLC (86%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 4 LLC is a Delaware limited
liability company that holds a beneficial interest in
a trust that owns an interest in the Loy Yang
project.
06 Loy Yang Holdings Unit Trust No. 2 LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings Unit Trust No. 2 LLC is a
Delaware limited liability company that acts as
a trustee of a trust involved in the Loy Yang
project.
07 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a
Cayman Islands corporation involved as a
holding company for CMS Generation Co.'s
overseas investments that engage in the
construction, ownership or operation of the
Loy Yang power project.
08 CMS Generation Loy Yang Holdings 1
Ltd.
09 **Horizon Energy Holdings Ltd.
10 **Loy Yang Power Partners
(24.63%)
10 Loy Yang Power Projects Pty
Ltd (24.6%)
10 Loy Yang Power Management
Pty Ltd (24.6%)
08 CMS Generation Loy Yang Holdings 2
Ltd.
09 **CMS Generation Horizon Energy
Holdings Ltd.
10 Loy Yang Power Management
Pty Ltd (25%)
10 **Loy Yang Power Partners
(25%)
10 Loy Yang Power Projects Pty
Ltd (25%)
04 CMS Gas Argentina Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Gas Argentina Company is a Cayman Islands corporation
with an equity interest in Transportadora de Gas del Norte
S.A., an Argentine corporation, which provides natural gas
transmission services to the northern and central parts of
Argentina.
05 Servicios de Aguas de Chile CMS y Compania Limitada
(.01%)
05 Transportadora de Gas del Norte S.A. (TGN) (29.42%)
04 CMS Gas Offshore Investment Ltd.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Gas Offshore Investment Ltd. is a Cayman Islands
corporation formed for the purposes of financing,
procurement, rehabilitation, upgrading, extension,
ownership, operation and maintenance of existing power
generation and seawater desalination project at the
Taweelah complex in Abu Dhabi.
04 CMS International Ventures, L.L.C. (37.01%)
(See CMS Enterprises for list of subsidiaries)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS International Ventures, L.L.C. is a Michigan limited
liability company, formed to own, manage and sell certain
of CMS Energy's international investments.
04 CMS Saginaw Bay Lateral Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Saginaw Bay Lateral Company is a Michigan corporation
that holds the interest in lateral lines off the Saginaw
Bay Pipeline systems.
04 CMS TriState Canada General Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS TriState Canada General Company is a Michigan
corporation formed to hold a 1% General Partner interest
in TriState Canada Limited Partnership, a Canadian
partnership, which holds TriState Pipeline assets in
Canada.
04 Nitrotec Corporation (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Nitrotec Corporation is a Delaware corporation formed to
invest in plants that extract helium from natural gas.
03 CMS Generation Co.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Co. is a Michigan corporation engaged in the
development of and investment in cogeneration and other
independent power generation projects, both domestic and
foreign.
04 CMS Centrales Termicas S.A. (99%)
Address: Edificio Torre Catalinas Plaza, Ing.
Enrique Butty 220
8 Piso (Av. E. Madero Alt. 800/900) (1300)
Buenos Aires, Argentina
CMS Centrales Termicas S.A. is an Argentine corporation
formed to own an interest in a 240 MW natural gas/fuel
oil-fired electric power plant near Mendoza, Argentina.
05 Cuyana S.A. de Inversiones (1%)
06 *Centrales Termicas Mendoza, S.A. (92.6%)
04 CMS Generation Altoona Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Altoona Company is a Michigan corporation
that is currently inactive.
04 CMS Generation Cebu Operating Limited Duration Company
(99%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Cebu Operating Limited Duration Company is
a Cayman Islands entity that is currently inactive.
04 CMS Generation Chateaugay Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Chateaugay Company is a Michigan
corporation that is currently inactive.
04 CMS Generation Filer City, Inc.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Filer City, Inc. is a Michigan corporation
involved as a 50% General Partner in the T.E.S. Filer City
Station Limited Partnership, a Michigan limited
partnership that is the owner of the 54 megawatt (net)
wood chip and coal-fired electric generating station in
Filer City, Michigan.
04 CMS Generation Filer City Operating Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Filer City Operating Company is a Michigan
corporation formed to operate a coal and waste wood-fueled
power plant near Filer City, Michigan owned by the T.E.S.
Filer City Station Limited Partnership.
04 CMS Generation Genesee Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Genesee Company is a Michigan corporation
involved as a 1% General Partner in the Genesee Power
Station Limited Partnership, a Delaware limited
partnership, which owns and
operates a 35-megawatt (net) waste wood-fired electric
generating facility located in Genesee County, Michigan.
05 Genesee Power Station Limited Partnership (1%)
06 GPS Newco, L.L.C (50%)
04 CMS Generation Grayling Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Grayling Company is a Michigan corporation
involved as a 1% General Partner in Grayling Generating
Station Limited Partnership, a Michigan limited
partnership, that owns a 36-megawatt (net) waste
wood-fueled power plant in Grayling, Michigan. Grayling
Generating Station Limited Partnership owns GGS Holdings
Company, a Michigan corporation, which is a .5% General
Partner in AJD Forest Products Limited Partnership, a
Michigan limited partnership, that operates a sawmill
adjacent to the Grayling Generating Station and also
supplies waste wood fuel to Grayling Generating Station.
Grayling Generating Station Limited Partnership is a 49.5%
Limited Partner in AJD Forest Products Limited
Partnership.
05 Grayling Generating Station Limited Partnership (1%)
06 GGS Holdings Company
05 Grayling Partners Land Development, L.L.C. (1%)
04 CMS Generation Honey Lake Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Honey Lake Company is a Michigan
corporation with a General Partnership interest and a
Limited Partnership interest in H L Power Company, a
California limited partnership that uses waste wood and
geothermal fluid to generate a 30-megawatt (net) electric
generating station in Lassan County, California. It is
also involved as General Partner in Honey Lake Energy I
LP, and Honey Lake Energy II LP, both Michigan limited
partnerships formed to own limited partnership interests
in H L Power Company.
05 Honey Lake Energy I L.P. (99%)
06 H L Power Company (18.65%)
05 Honey Lake Energy II L.P. (99%)
06 H L Power Company (18.65%)
05 H L Power Company (.5%)
04 CMS International Ventures, L.L.C. (21.02%)
(See CMS Enterprises for list of subsidiaries)
04 CMS Generation Lyonsdale Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Lyonsdale Company is a Michigan corporation
that is currently inactive.
04 CMS Generation Grayling Holdings Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Grayling Holdings Company is a Michigan
corporation involved as a 49% Limited Partner in Grayling
Generating Station Limited Partnership, a Michigan limited
partnership. Grayling Generating Station Limited
Partnership owns GGS Holdings Company, a Michigan
corporation that owns a .5% General Partner interest in
AJD Forest Products Limited Partnership, a Michigan
limited partnership.
05 Grayling Generating Station Limited Partnership (49%)
06 GGS Holdings Company
05 Grayling Partners Land Development LLC (49%)
04 CMS Generation Holdings Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Holdings Company is a Michigan corporation
involved as a limited partner in various proposed
partnerships.
05 CMS Centrales Termicas S.A. (1%)
05 Genesee Power Station Limited Partnership (.5%)
06 GPS Newco, L.L.C. (50%)
05 GPS Newco, L.L.C. (50%)
05 CMS Generation, S.R.L. (.01%)
06 *Hidroelectrica El Chocon S.A. (2.48%)
06 Hidroinvest S.A. (25%)
07 *Hidroelectrica El Chocon S.A. (59%)
05 Moose River Properties (50%)
05 *CMS Ensenada S.A. (1%)
05 CMS Operating, S.R.L. (.001%)
05 Metro East, L.L.C. (50%)
05 McCook Cogeneration Station, L.L.C (50%)
04 Dearborn Industrial Energy, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
Dearborn Industrial Energy, L.L.C. is a Michigan limited
liability company formed to hold the ownership interest in
Dearborn Industrial Generation, L.L.C. and to obtain an
air permit for the Dearborn Industrial Generation Project.
05 *Dearborn Industrial Generation, L.L.C.
04 *Dearborn Generation Operating, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
Dearborn Generation Operating, L.L.C. is a Michigan
limited liability company formed to operate the
cogeneration facility located at the Ford Rouge plant.
04 CMS Generation Investment Company IV
05 CMS Generation Investment Company II
06 CMS Generation Jorf Lasfar I Limited Duration
Company (65%)
07 Jorf Lasfar Handelsbolag (50%)
07 Jorf Lasfar I HB (50%)
07 Jorf Lasfar Power Energy HB (50%)
06 CMS Generation Jorf Lasfar II Limited Duration
(65%)
07 Jorf Lasfar Handelsbolag (50%)
07 Jorf Lasfar I HB (50%)
07 Jorf Lasfar Power Energy HB (50%)
06 CMS Generation Cebu Operating Limited Duration
Company (1%)
06 CMS Generation Jegurupadu I Limited Duration
Company (1%)
07 Jegurupadu O&M Company Mauritius (50%)
08 *Jegurupadu Operating & Maintenance
Company (60%)
06 CMS Generation Jegurupadu II Limited Duration
Company (1%)
07 Jegurupadu O&M Company Mauritius (50%)
08 *Jegurupadu Operating and Maintenance
Company (60%)
06 CMS Generation Pinamucan Limited Duration
Company (1%)
06 CMS Generation Pinamucan Operating Limited
Duration Company (1%)
05 CMS Generation Jorf Lasfar III Limited Duration
Company (50%)
05 CMS Generation Luxembourg II S.a.r.l.
06 CMS Generation Luxembourg S.a.r.l.
07 CMS Generation Netherlands B.V.
08 Jorf Lasfar Energlaktiebolag
09 *Jorf Lasfar Energy Company
(25%)
08 Jorf Lasfar Power Energy Aktiebolag
09 *Jorf Lasfar Energy Company
(23%)
05 CMS Generation Jorf Lasfar I Limited Duration Company
(35%)
06 Jorf Lasfar Handelsbolag (50%)
07 *Jorf Lasfar Energy Company (2%)
05 CMS Generation Jorf Lasfar II Limited Duration
Company (35%)
06 Jorf Lasfar Handelsbolag (50%)
07 *Jorf Lasfar Energy Company (2%)
04 CMS Generation Investment Company VI
05 CMS Takoradi Investment Company
06 CMS Takoradi Investment Company II
07 *Takoradi International Company (Ghana)
(90%)
04 CMS Generation Investment Company VII
05 CMS Generation Taweelah Limited
06 **Emirates CMS Power Company (40%)
07 Taweelah Shared Facilities Company LLC
(17%)
05 CMS Jubail Investment Company I
06 *Jubail Energy Company (25%)
05 Shuweihat General Partner Company (50%)
06 Shuweihat Limited Partnership (1%)
07 *Shuweihat CMS International Power Company
(UAE) (40%)
05 Shuweihat Limited Partnership (49.5%)
06 *Shuweihat CMS International Power Company (UAE)
(40%)
05 *Shuweihat O&M Limited Partnership (49.5%)
05 Shuweihat O&M General Partner Company (50%)
06 *Shuweihat O&M Limited Partnership (1%)
05 Servicios de Aguas de Chile CMS y Compania Limitada
(99.99%)
05 *CMS (India) Operations & Maintenance Company Private
Limited (1%)
04 CMS Generation Montreal Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Montreal Company is a Michigan corporation
that is currently inactive.
04 *CMS Generation Operating Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Operating Company is a New York corporation
involved in the operation of various power plants
throughout the United States.
04 CMS Generation Recycling Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Recycling Company is a Michigan corporation
that owns 50% of Mid-Michigan Recycling, L.L.C.
Mid-Michigan Recycling, L.L.C. was created to be involved
in supplying waste wood fuel for the Genesee Power Station
Limited Partnership.
05 Mid-Michigan Recycling, L.L.C. (50%)
04 *CMS International Operating Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS International Operating Company is a Cayman Islands
corporation, formed to own and control project operating
and maintenance companies.
05 CMS Generation UK Operating Private Limited
06 Jorf Lasfar Aktiebolag
07 *CMS Morocco Operating Co., S.C.A. (99.7%)
05 *CMS (India) Operations & Maintenance Company Private
Limited (99%)
05 CMS Generation Jorf Lasfar III Limited Duration
Company (50%)
04 *CMS Generation Michigan Power L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Michigan Power L.L.C. is a Michigan limited
liability company formed to own generating units which are
to be sited in Michigan for the purpose of generating
power during peak demand periods.
04 Exeter Management Company
Address: One Energy Plaza
Jackson, Michigan 49201
Exeter Management Company is a Connecticut corporation
involved as the General Partner in the Exeter Energy
Limited Partnership, which owns and operates the 29.8MW
tire-fueled cogeneration plant in Sterling, Connecticut.
04 *Hidroelectrica El Chocon S.A. (2.48%)
Address: 8311 Neuquen
Neuquen Province
Villa El Chocon
Argentina
Hidroelectrica El Chocon S.A. is an Argentine company,
which holds a thirty-year concession to operate two
hydroelectric power plants in Argentina.
04 Honey Lake I, L.P. (1%)
Address: One Energy Plaza
Jackson, Michigan 49201
Honey Lake I, L.P. is a California limited partnership
created to participate as a 24.75% limited partner in the
cogeneration facility at Honey Lake, California.
05 H L Power Company (18.65%)
04 Honey Lake II, L.P. (1%)
Address: One Energy Plaza
Jackson, Michigan 49201
Honey Lake II, L.P. is a California limited partnership
created to participate as a 24.75% limited partner in the
cogeneration facility at Honey Lake, California.
05 H L Power Company (18.65%)
04 HYDRA-CO Enterprises, Inc.
Address: One Energy Plaza
Jackson, Michigan 49201
HYDRA-CO Enterprises, Inc. is a New York corporation
involved in the management and operation of various power
plants. The plants are fueled by coal, natural gas, waste
wood and water (hydro). It also has construction
management responsibility for a 60MW diesel-fueled power
plant in Jamaica.
05 Caribbean Electric Power (40%)
05 CMS Generation Operating Company II, Inc.
06 HCO-Jamaica, Inc.
07 *Private Power Operators Limited (99%)
05 CMS Generation Stratton Company
05 HCE-Biopower, Inc.
05 HCE-Jamaica Development, Inc.
05 HCE-Rockfort Diesel, Inc.
06 *Jamaica Private Power Company, Limited (45.07%)
06 *Private Power Operators Limited (1%)
05 HYDRA-CO Generation, Inc.
05 Little Falls Hydropower Associates (33.33%)
05 Lock 17 Management Group (33.33%)
05 Lock 17 Group (33.33%)
05 New Bern Energy Recovery, Inc.
05 Jamaica Energy Team Limited (59.7%)
04 Loy Yang Holdings No. 1 LLC (14%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 1 LLC is a Delaware limited liability
company that holds a beneficial interest in a trust that owns an
interest in the Loy Yang Project.
05 Loy Yang Holdings Unit Trust No. 1 LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings Unit Trust No. 1 LLC is a Delaware limited
liability company that acts as a trustee of a trust involved
in the Loy Yang project.
06 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a Cayman Islands
corporation involved as a holding company for CMS
Generation Co.'s overseas investments that engage in the
construction, ownership or operation of the Loy Yang power
project.
07 CMS Generation Loy Yang Holdings 1 Ltd.
08 **Horizon Energy Holdings Ltd.
09 **Loy Yang Power Partners (24.63%)
09 Loy Yang Power Projects Pty Ltd (24.6%)
09 Loy Yang Power Management Pty Ltd (24.6%)
07 CMS Generation Loy Yang Holdings 2 Ltd.
08 **CMS Generation Horizon Energy Holdings Ltd.
09 Loy Yang Power Management Pty Ltd (25%)
09 **Loy Yang Power Partners (25%)
09 Loy Yang Power Projects Pty Ltd (25%)
04 Loy Yang Holdings No. 2 LLC (14%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 2 LLC is a Delaware limited liability
company that holds a beneficial interest in a trust that owns an
interest in the Loy Yang project.
05 Loy Yang Holdings Unit Trust No. 1 LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Trust Management No. 1 LLC is a Delaware limited
liability company that acts as a trustee of a trust involved
in the Loy Yang project.
06 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a Cayman Islands
corporation involved as a holding company for CMS Generation
Co.'s overseas investments that engage in the construction,
ownership or operation of the Loy Yang power project.
07 CMS Generation Loy Yang Holdings 1 Ltd.
08 **Horizon Energy Holdings Ltd.
09 **Loy Yang Power Partners (24.63%)
09 Loy Yang Power Projects Pty Ltd (24.6%)
09 Loy Yang Power Management Pty Ltd (24.6%)
07 CMS Generation Loy Yang Holdings 2 Ltd.
08 **CMS Generation Horizon Energy Holdings Ltd.
09 Loy Yang Power Management Pty Ltd (25%)
09 **Loy Yang Power Partners (25%)
09 Loy Yang Power Projects Pty Ltd (25%)
04 Loy Yang Holdings No. 3 LLC (14%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 3 LLC is a Delaware limited liability
company that holds a beneficial interest in a trust that owns an
interest in the Loy Yang project.
05 Loy Yang Holdings Unit Trust No. 2 LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings Unit Trust No. 2 LLC is a Delaware limited
liability company that acts as a trustee of a trust involved
in the Loy Yang project.
06 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a Cayman
Islands corporation involved as a holding
company for CMS Generation Co.'s overseas
investments that engage in the construction,
ownership or operation of the Loy Yang power
project.
07 CMS Generation Loy Yang Holdings 1 Ltd.
08 **Horizon Energy Holdings Ltd.
09 **Loy Yang Power Partners (24.63%)
09 Loy Yang Power Projects Pty Ltd (24.6%)
09 Loy Yang Power Management Pty Ltd (24.6%)
07 CMS Generation Loy Yang Holdings 2 Ltd.
08 **CMS Generation Horizon Energy Holdings Ltd.
09 Loy Yang Power Management Pty Ltd (25%)
09 **Loy Yang Power Partners (25%)
09 Loy Yang Power Projects Pty Ltd (25%)
04 Loy Yang Holdings No. 4 LLC (14%)
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings No. 4 LLC is a Delaware limited liability
company that holds a beneficial interest in a trust that owns an
interest in the Loy Yang project.
05 Loy Yang Holdings Unit Trust No. 2 LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Holdings Unit Trust No. 2 LLC is a Delaware limited
liability company that acts as a trustee of a trust involved
in the Loy Yang project.
06 CMS Generation Investment Company I (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company I is a Cayman
Islands corporation involved as a holding
company for CMS Generation Co.'s overseas
investments that engage in the construction,
ownership or operation of the Loy Yang power
project.
07 CMS Generation Loy Yang Holdings 1 Ltd.
08 **Horizon Energy Holdings Ltd.
09 **Loy Yang Power Partners (24.63%)
09 Loy Yang Power Projects Pty Ltd (24.6%)
09 Loy Yang Power Management Pty Ltd (24.6%)
07 CMS Generation Loy Yang Holdings 2 Ltd.
08 **CMS Generation Horizon Energy Holdings Ltd.
09 Loy Yang Power Management Pty Ltd (25%)
09 **Loy Yang Power Partners (25%)
09 Loy Yang Power Projects Pty Ltd (25%)
04 Loy Yang Trust Management No. 1 LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Trust Management No. 1 LLC is a Delaware limited
liability company that acts as an institutional manager for the
trustees of trusts involved in the Loy Yang project.
04 Loy Yang Trust Management No. 2 LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Loy Yang Trust Management No. 2 LLC is a Delaware limited
liability company that acts as an institutional manager for
the trustees of trusts involved in the Loy Yang project.
04 McCook Cogeneration Station, L.L.C. (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
McCook Cogeneration Station, L.L.C. is a Michigan limited
liability company that is currently inactive.
04 McCook Waste Wood Recovery Facility, L.L.C. (50%)
Address: One Energy Plaza
Jackson, MI 49201
McCook Waste Wood Recovery Facility, LLC is a Michigan
limited liability company that is currently inactive.
04 Metro East, L.L.C. (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Metro East, L.L.C. is a Michigan limited liability company that is
currently inactive.
04 Midland Cogeneration Venture Expansion, LLC (50%)
Address: One Energy Plaza
Jackson, Michigan 49201
Midland Cogeneration Venture Expansion, LLC is a Delaware
limited liability company formed to develop the MCV
Expansion, including ordering and funding long-lead
equipment.
04 Notera Holding B.V.
Address: A. J. Ernststraat
595 H 1082 LD
Amsterdam, The Netherlands
Notera Holding B.V. is a Netherlands corporation and currently
inactive.
04 Oxford Tire Supply, Inc.
Address: One Energy Plaza
Jackson, Michigan 49201
Oxford Tire Supply, Inc. is a Delaware corporation that is
currently inactive.
04 Oxford Tire Recycling, Inc.
Address: One Energy Plaza
Jackson, Michigan 49201
Oxford Tire Recycling, Inc. is a Delaware corporation that is
currently inactive.
04 Scudder Latin America Power I-C LDC (25%)
Address: 345 Park Avenue
New York, New York 10154-0010
Scudder Latin America Power I-C LDC is a Cayman Islands
corporation formed for the purposes of an Investment Fund to
invest (primarily passively) in electric generating facilities and
the electric infrastructure in Latin America and the Caribbean.
04 **Taweelah A2 Operating Company
Address: One Energy Plaza
Jackson, Michigan 49201
Taweelah A2 Operating Company is a Michigan corporation formed to
operate the Taweelah A2 project through a branch office in Abu
Dhabi, United Arab Emirates.
03 CMS International Ventures, L.L.C. (40.47%)
Address: One Energy Plaza
Jackson, Michigan 49201
CMS International Ventures, L.L.C. is a Michigan limited
liability company, formed to own, manage and sell certain of CMS
Energy's international investments.
04 CMS Electric & Gas, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Electric & Gas, L.L.C. is a Michigan limited liability
company. CMS International Distribution LLC and CMS
Electric and Gas Company merged in December 2002 to form
CMS Electric & Gas, L.L.C.
05 CMS Comercialzadora de Energia Ltda. (99.99%)
05 CMS Distribuidora Ltda. (99.99%)
06 CMS Participacoes Ltda. (99.99%)
07 Agropecuaria Turvinho Ltda. (.01%)
07 **Companhia Paulista de Energia Eletrica (CPEE)
a Brazilian corporation (93.86%)
08 Agropecuaria Turvinho Ltda. (99.99%)
08 **Companhia Sul Paulista de Energia Eletrica
(CSPE),
a Brazilian corporation (88.63%)
09 **Companhia Jaguari de Energia S.A. (CJE),
a Brazilian corporation
10 **Compania Luz e Forca de Mococo SA (CLFM)
10 CPEE Equipamentos Eletricos e Servicos
Ltda. (99.86%)
08 Paulista Lajeado Energia SA (7%)
08 Companhia Nova Paulista de Energia
05 CMS Electric and Gas Moldova, L.L.C.
05 CMS Electric and Gas Sucursal (branch) Argentina
05 CMS Empreendimentos Ltda (99.99%)
05 CMS Netherlands Funding Company
05 CMS Venezuela S.A.
06 **Sistema Electrico del Estado Nueva Esparta C.A.
(SENECA) (52.37%)
05 ENELMAR, SA
06 **Sistema Electrico del Estado Nueva Esparta C.A.
(SENECA) (33.34%)
04 CMS Generation Investment Company III
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company III is a Cayman Islands
corporation formed to have an ownership interest in
certain Indian power generation projects.
05 CMS Energy Mauritius Limited
06 TN LNG & Power Co. Pvt. Ltd. (India) (TIDCO) (26.67%)
05 CMS Generation Jegurupadu I Limited Duration Company (99%)
06 Jegurupadu O&M Company Mauritius (50%)
07 *Jegurupadu Operating & Maintenance Company (60%)
05 CMS Generation Jegurupadu II Limited Duration Company (99%)
06 Jegurupadu O&M Company Mauritius (50%)
07 *Jegurupadu Operating & Maintenance Company (60%)
05 CMS Generation Neyveli Ltd. (100%)
06 *ST-CMS Electric Company Pvt. Ltd. (50%)
06 ST-CMS Electric Company (Mauritius) (41.5%)
05 Jegurupadu CMS Generation Company Ltd.
06 *GVK Industries Ltd. (23.75%)
04 CMS Generation Investment Company V
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Generation Investment Company V is a Cayman Islands
corporation formed to separate projects on a regional
basis in order to provide CMS Energy more liability
protection.
05 Compania de Inversiones CMS Energy Chile Limitada
(40%)
06 Gasoducto Atacama Argentina Limitada (10%)
06 Gasoducto Atacama Chile Limitada (50%)
07 Progas S.A. (99.99%)
07 Gasoducto Taltal Ltda. (99%)
06 GasAtacama Generacion Limitada (50%)
07 Progas S.A. (.01%)
07 Empresa de Transmission Electra Transemel
S.A. (40%)
07 CDEC-SING Limitada (16.666%)
06 GasAtacama S.A. (50%)
05 Gasoducto Atacama Argentina Limitada (20%)
06 Gasoducto Taltal Ltda. (1%)
05 Scudder Latin American Power I-P L.D.C. (25%)
05 Scudder Latin American Power II-P L.D.C. (4%)
04 CMS Generation, S.R.L. (99.99%)
Address: Edificio Torre Catalinas Plaza, Ing.
Enrique Butty 220
8 Piso (Av. E. Madero Alt. 800/900) (1300)
Buenos Aires, Argentina
CMS Generation, S.R.L. is an Argentine corporation formed
to invest in a hydroelectric power concession in
Argentina.
05 Hidroinvest S.A. (25%)
06 *Hidroelectrica El Chocon S.A. (59%)
04 **CMS Operating, S.R.L. (99.999%)
Address: Edificio Torre Catalinas Plaza, Ing.
Enrique Butty 220
8 Piso (Av. E. Madero Alt. 800/900) (1300)
Buenos Aires, Argentina
CMS Operating, S.R.L. is an Argentine corporation created
to have a 80.55% interest (through its subsidiary Cuyana
de Inversiones, S.A.) in the Centrales Termicas Mendoza,
S.A. partnership. Centrales Termicas Mendoza, S.A. was
formed to acquire, own and operate the Lujan de Cuyo and
Cruz de Piedra power plants in Argentina.
05 *CMS Ensenada S.A. (99%)
05 Cuyana S.A. de Inversiones (99%)
06 Centrales Termicas Mendoza, S.A. (92.6%)
05 Transportadora de Gas del Mercosur (Argentina) (20%)
04 Western Australia Gas Transmission Company I
Address: One Energy Plaza
Jackson, Michigan 49201
Western Australia Gas Transmission Company I is a Cayman
Islands corporation which is a holding company for certain
international assets.
05 CMS Gas Transmission del Sur Company
06 CMS Atacama Company
06 Compania de Inversiones CMS Energy-Chile Ltda
(60%)
07 GasAtacama S.A. (50%)
07 Gasoducto Atacama Argentina Limitada (10%)
07 Gasoducto Atacama Chile Limitada (50%)
08 Gasoducto Taltal Limitada (99%)
08 Progas S.A. (99.99%)
07 GasAtacama Generacion Limitada (50%)
08 CDEC-SING (16.666%)
08 Empresa de Transmision Electrica
Transemel S.A. (40%)
08 Progas S.A. (.01%)
06 Gasoducto Atacama Argentina Limitada (20%)
07 Gasoducto Taltal Ltda (1%)
05 CMS Gas Transmission of Australia Holdings Company
06 CMS Gas Transmission of Australia
05 CMS International Finance Services Company
05 CMS Luxembourg SARL
06 Valandrid BV
07 CMS Goldfields Gas Transmission Australia PTY. LTD.
08 SCP Investments (No. 1) PTY. LTD (45%)
09 SCP Investments (No. 2) PTY. LTD
10 Southern Cross Pipelines Australia PTY. LTD
11 Goldfields Gas Transmission Joint Venture
(66.664%)
12 Goldfields Gas Transmission Pty. Ltd.
09 SCP Investments (NO 3) PTY. LTD
10 Southern Cross Pipelines (NPL) Australia PTY.
LTD
11 Goldfields Gas Transmission Joint Venture
(25.5%)
12 Goldfields Gas Transmission PTY. LTD
05 CMS Parmelia Gas Transmission Pty Ltd.
03 CMS Land Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Land Company is a Michigan corporation formed to act as a
repository for any unused real property formerly owned by
Consumers Energy Company, and hold the same for possible
non-utility development.
03 CMS Energy Resource Management Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Energy Resource Management Company (CMS ERM) is a Michigan
corporation involved in providing gas, electric, oil and coal
marketing, risk management and energy management services. CMS
ERM was formerly known as CMS Marketing, Service and Trading
Company (CMS MST).
04 CMS Merchant Services, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Merchant Services, L.L.C. is a Michigan limited
liability company formed for the purpose of purchasing
capacity under the FERC's capacity release regulations for
monthly transactions.
04 CMS Viron Corporation
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Viron Corporation is a Missouri corporation formed to
provide services in the area of energy usage analysis and
the engineering and implementation of energy conservation
measures.
04 CMS ERM Michigan LLC
Address: One Energy Plaza
Jackson, Michigan 49201
CMS ERM Michigan LLC is a Michigan limited liability
company formed for the sole purpose of taking an
assignment of the Ford/Rouge Electricity Sales Agreements
from Dearborn Industrial Generation L.L.C. and to perform
those contracts. CMS ERM Michigan LLC was formerly known
as CMS MS&T Michigan L.L.C.
04 CMS Texon Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Texon Company is a Michigan corporation involved as a
General Partner in Texon, LP, a Texas limited partnership
engaged in transporting, processing and marketing of crude
oil and natural gas liquids and services related thereto.
04 Dorman Energy, L.L.C. (49%)
Address: One Energy Plaza
Jackson, Michigan 49201
Dorman Energy, L.L.C. is a Michigan limited liability
company formed as a partner with a minority controlled
energy business to pursue minority set-aside energy
contracts.
04 Premstar Energy Canada Ltd (50%)
Address: 330 Richmond Street
Suite 104
Chatham, Ontario Canada N7M 1P7
Premstar Energy Canada Ltd is a Canadian corporation
engaged in purchasing, transporting, storing, selling,
brokering and marketing natural gas in North America and
energy-related consulting.
05 ECNG Inc (88%)
05 Energistics Group, Inc.
05 Premstar Metering Inc. (70%)
06 Canadian Meter Services Ltd.
03 CMS Resource Development Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Resource Development Company is a Michigan corporation
formed to pursue and develop various power sources outside the
United States.
03 CMS MicroPower Systems, L.L.C.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS MicroPower Systems, L.L.C. is a Michigan limited liability
company formed for the purpose of leasing portable generation
assets.
03 CMS Texas LLC
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Texas LLC is a Texas limited liability company formed to
conduct business activities in Texas.
03 Explotaciones CMS Oil and Gas Company
Address: One Energy Plaza
Jackson, Michigan 49201
Explotaciones CMS Oil and Gas Company is a Delaware corporation
and currently inactive.
02 CONSUMERS ENERGY COMPANY
Address:
One Energy Plaza
Jackson, Michigan 49201
The consolidated operations of Consumers Energy Company ("Consumers")
account for the largest share of CMS Energy's total assets and income
and account for a substantial portion of its revenues. The name, state
of organization and nature of business of Consumers' subsidiaries are
described below:
03 CMS Engineering Co.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Engineering Co. is a Michigan corporation engaged in offering
design, engineering, project management and related construction
services to natural gas utilities, natural gas exploration and
production companies, and other energy businesses.
03 CMS Midland Holdings Company
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Midland Holdings Company is a Michigan corporation involved as
a Limited Partner in the First Midland Limited Partnership, a
Delaware limited partnership that leases assets to the Midland
Cogeneration Venture Limited Partnership, a Michigan limited
partnership.
03 CMS Midland, Inc.
Address: One Energy Plaza
Jackson, Michigan 49201
CMS Midland, Inc. is a Michigan corporation involved as a 49%
General Partner in the Midland Cogeneration Venture Limited
Partnership, a Michigan limited partnership.
03 Consumers Campus Holdings, LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Consumers Campus Holdings, LLC is a Michigan limited liability
company formed for the purpose of being the lessee in the
synthetic lease financing of the new Consumers Energy Company
office building located in downtown Jackson, Michigan.
03 Consumers Funding LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Consumers Funding LLC is a Delaware limited liability company
formed for the purpose of acting as issuer of securitization bonds
and assignee of property transferred by Consumers.
03 Consumers Nuclear Services LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Consumers Nuclear Services LLC is a Michigan corporation formed
for the purpose of holding the 20% member interest in Nuclear
Management Company LLC.
04 Nuclear Management Company LLC (20%)
Address: 700 First Street
Hudson, Wisconsin 54016
Nuclear Management Company LLC is a Wisconsin limited
liability company formed to enhance reliability, continue
safe operation, and pursue overall excellence, in nuclear
power operations, as well as to identify efficiencies in
the provision of operating services to nuclear facilities.
03 Consumers Receivables Funding, LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Consumers Receivables Funding, LLC is a Delaware limited liability
company formed for the purpose of buying certain accounts
receivable from Consumers Energy Company and selling them to a
third party.
03 Consumers Receivables Funding II LLC
Address: One Energy Plaza
Jackson, Michigan 49201
Consumers Receivables Funding II LLC is a Delaware limited
liability company that buys certain accounts receivable from
Consumers Energy Company and sells them to a third party.
03 ES Services Company
Address: One Energy Plaza
Jackson, Michigan 49201
ES Services Company is a Michigan corporation formed for the
purpose of offering design, engineering, project management and
related services primarily to electric utilities and generation
facilities.
03 MEC Development Corp.
Address: One Energy Plaza
Jackson, Michigan 49201
MEC Development Corp. is a Michigan corporation that previously
held assets transferred to, and was holder of certain bonds issued
by, the Midland Cogeneration Venture Limited Partnership, a
Michigan limited partnership.
2. A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS
SUBSIDIARY PUBLIC UTILITY COMPANIES USED FOR THE GENERATION, TRANSMISSION
AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION,
TRANSMISSION AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING
THE LOCATION OF PRINCIPAL GENERATING PLANTS, TRANSMISSION LINES,
PRODUCING FIELDS, GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS
DISTRIBUTION FACILITIES, INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE
THE STATE IN WHICH CLAIMANT AND ITS SUBSIDIARIES ARE ORGANIZED AND ALL
TRANSMISSION OR PIPELINES WHICH DELIVER OR RECEIVE ELECTRIC ENERGY OR GAS
AT THE BORDERS OF SUCH STATE.
--------------------------------------------------------------------------------
Claimant has no directly owned properties used for such purposes. Claimant's
subsidiary, Consumers Energy Company ("Consumers") is a public utility. Its
property and facilities used for the above-described purposes are located within
the State of Michigan and are described below.
(1) ELECTRIC PROPERTIES
Consumers' electric generation is supplied by the following plants:
2003 2003
SUMMER NET
SIZE AND YEAR DEMONSTRATED NET GENERATION
NAME AND LOCATION (MICHIGAN) ENTERING SERVICE CAPABILITY (KW) (THOUSANDS OF KWHS)
---------------------------- ---------------- --------------- -------------------
Coal Generation
J H Campbell 1&2 -- West Olive 2 Units, 1962-1967 615,000 4,252,974
J H Campbell 3 -- West Olive 1 Unit, 1980 765,140(a) 5,657,104
D E Karn -- Essexville 2 Units, 1959-1961 511,000 3,428,844
B C Cobb - Muskegon 2 Units, 1956-1957 312,000 2,166,191
J R Whiting -- Erie 3 Units, 1952-1953 326,000 2,256,427
J C Weadock - Essexville 2 Units, 1955-1958 302,000 2,329,656
TOTAL COAL GENERATION 2,831,140 20,091,196
--------- ----------
Oil/Gas Generation
B C Cobb -- Muskegon 3 Units, 1999-2000(b) 183,000 6,151
D E Karn - Essexville 2 Units, 1975-1977 1,276,000 351,461
TOTAL OIL/GAS GENERATION 1,459,000 357,612
--------- -------
Hydroelectric
Conventional Hydro 13 Plants, 1907- 73,540 335,182
Generation 1949
Ludington Pumped Storage 6 Units, 1973 (517,278)(d)
954,700(c)
TOTAL HYDROELECTRIC 1,028,240 (182,096)
--------- ---------
Nuclear Generation
Palisades -- South Haven 1 Unit, 1971 767,000 6,151,481
TOTAL NUCLEAR GENERATION 767,000 6,151,481
------- ---------
Gas/Oil Combustion Turbine
Generation 7 Plants, 1966-1999 345,000 12,954
TOTAL GAS/OIL COMBUSTION TURBINE 345,000 12,954
------- ------
TOTAL OWNED GENERATION 6,430,300 26,431,147
--------- ==========
Purchased and Interchange Power Capacity 1,991,200(e)
------------
TOTAL 8,421,500
(a) Represents Consumers' share of the capacity of the J H Campbell 3, net of
6.69 percent (ownership interests of the Michigan Public Power Agency and
Wolverine Power Supply Cooperative, Inc.).
(b) Cobb 1-3 are retired coal fired units that were converted to gas fired.
Units were placed back into service in the years indicated.
(c) Represents Consumers' share of the capacity of Ludington. Consumers and
Detroit Edison have 51 percent and 49 percent undivided ownership,
respectively, in the plant.
(d) Represents Consumers' share of net pumped storage generation. This
facility electrically pumps water during off-peak hours for storage to
later generate electricity during peak-demand hours.
(e) Includes 1,240 MW of purchased contract capacity from the MCV Facility.
Consumers' electric subtransmission and distribution lines are located on or
under public highways, streets, alleys and lands, or on or under private land
pursuant to easements or other rights. Consumers' subtransmission system
consists of 347 miles of 138 kV high voltage distribution radial lines as well
as 4,164 structural miles of overhead and 16 subsurface miles of underground 23
kV and 46 kV high voltage distribution lines. The distribution system consists
of 54,922 structural miles of overhead lines and 8,526 subsurface miles of
underground lines.
Consumers owns substations having an aggregate transformer capacity of
20,605,680 kilovoltamperes.
On April 1, 2001, Consumers transferred its investment in electric transmission
lines and substations to a wholly owned subsidiary, Michigan Electric
Transmission Company (METC). On May 1, 2002, Consumers sold its interest
in METC to a third party, Michigan Transco Holdings, LLC, and no longer owns
transmission facilities. The new transmission company is called Michigan
Electric Transmission Company, LLC (METC, LLC).
Consumers is interconnected to METC, LLC. METC, LLC is interconnected with
neighboring utilities as well as out-state transmission systems.
(2) Gas Properties
Consumers' gas distribution and transmission system consists of
25,551 miles of distribution mains and 1,624 miles of transmission lines
throughout Michigan's lower peninsula. It owns and operates seven
compressor stations with a total of 162,000 installed horsepower.
Consumers has 14 gas storage fields located across Michigan with an
aggregate storage capacity of 330.8 bcf.
-------------------------------------------------------------------------
3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT
TO CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES:
-------------------------------------------------------------------------
ELECTRIC ENERGY
(a) NUMBER OF KWH OF ELECTRIC ENERGY SOLD AT RETAIL OR WHOLESALE.
SUBSIDIARY kWh
---------- ---
Consumers Energy Total 36,010,387,414
CMS MST Total 5,313,575,134
--------------
Total Electric Energy Sold at Retail or Wholesale 41,323,962,548
==============
(b) NUMBER OF KWH OF ELECTRIC ENERGY DISTRIBUTED AT RETAIL OUTSIDE
MICHIGAN.
SUBSIDIARY kWh
---------- ---
Consumers Energy Total 0
CMS MST Total 0
-
Total Electric Energy Distributed Outside of the State of Michigan
0
===
(c) NUMBER OF KWH OF ELECTRIC ENERGY SOLD AT WHOLESALE OUTSIDE
MICHIGAN OR AT MICHIGAN'S STATE LINE.
SUBSIDIARY kWh
---------- ---
523,268,000
Consumers Energy Total
CMS MST Total 3,574,745,950
-------------
Total Electric Energy Sold at Wholesale Outside the State of Michigan or
at Michigan's State Line.
4,098,013,950
=============
(d) NUMBER OF KWH OF ELECTRIC ENERGY PURCHASED OUTSIDE MICHIGAN OR AT
MICHIGAN'S STATE LINE.
SUBSIDIARY kWh
---------- ---
Consumers Energy Total 2,082,688,000
CMS MST Total 3,391,856,000
-------------
Total Electric Energy Purchased Outside of Michigan 5,474,544,000
=============
NATURAL GAS
The following information represents natural gas only. CMS Energy does not deal
with or in manufactured gas.
(a) NUMBER OF MCF OF NATURAL GAS DISTRIBUTED AT RETAIL.
SUBSIDIARY Mcf
---------- ---
Consumers Energy Total 257,343,000
CMS MST Total 24,101,296
-----------
Total Natural Gas Distributed at Retail 281,444,296
===========
(b) NUMBER OF MCF OF NATURAL GAS DISTRIBUTED AT RETAIL OUTSIDE
MICHIGAN.
SUBSIDIARY Mcf
---------- ---
Consumers Energy Total 0
CMS MST Total 3,443,264
---------
Total Natural Gas Distributed at Retail 3,443,264
=========
Outside the State of Michigan
(c) NUMBER OF MCF OF NATURAL GAS SOLD AT WHOLESALE OUTSIDE MICHIGAN OR
AT MICHIGAN'S STATE LINE.
SUBSIDIARY Mcf
---------- ---
Consumers Energy Total 0
CMS MST Total 39,193,919
----------
Total Natural Gas Sold at Wholesale Outside Michigan or at
Michigan's State Line.
39,193,919
===========
(d) NUMBER OF MCF OF NATURAL GAS PURCHASED OUTSIDE MICHIGAN.
SUBSIDIARY Mcf
---------- ---
Consumers Energy Total 270,722,000
CMS MST Total 67,864,105
----------
Total Natural Gas Purchased Outside of Michigan
338,586,105
===========
4. THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT TO
CLAIMANT AND EACH INTEREST IT HOLDS DIRECTLY OR INDIRECTLY IN AN
EWG OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN
UNITED STATES DOLLARS:
(a) Name, location, business address and description of the facilities
used by the EWG or foreign utility company for the generation,
transmission and distribution of electric energy for sale or for
the distribution at retail of natural or manufactured gas;
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held;
(c) Type and amount of the capital invested, directly or indirectly,
by the holding company claiming exemption; any direct or indirect
guarantee of the security of the EWG or foreign utility company by
the holding company claiming exemption; and any debt or other
financial obligation for which there is recourse, directly or
indirectly, to the holding company claiming exemption or another
system company, other than the EWG or foreign utility company;
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period; and
(e) Identify any service, sales or construction contract(s) between
the EWG or foreign utility company and a system company, and
describe the services to be rendered or goods sold and fees or
revenues under such agreement(s).
CMS ENERGY'S EWGs AND FUCOs
As of December 31, 2003, CMS Energy had interests in 23 EWGs and 11
FUCOs:
EXEMPT WHOLESALE GENERATORS:
1. CENTRALES TERMICAS MENDOZA, S.A. ("CTM")
(a) Centrales Termicas Mendoza, S.A.
Edificio torre Catalinas Plaza
Ing. Butty 220, 8th Floor
Buenos Aires, Argentina
Centrales Termicas Mendoza, S.A., an Argentine company, is the
owner of a 540 MW facility in Lujon de Cuyo and a 15 MW generating
unit in Cruz de Piedra, both located in Mendoza.
(b) CMS Enterprises Company owns 40.47%, CMS Gas Transmission Company
owns 37.01% and CMS Generation Co. owns 21.02% of CMS
International Ventures, L.L.C. CMS International Ventures, L.L.C.
owns 99.999% of CMS Operating, S.R.L., which owns 99% of Cuyana
S.A. de Inversiones. Cuyana S.A.
de Inversiones owns 92.6% of CTM.
(c) As of December 31, 2003, CMS Generation Co. has invested
approximately $37.51 million in CTM through its subsidiaries CMS
Operating S.R.L. and Cuyana de Inversiones S.A.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 36,425
Irrevocable Contributions $ 139,221
CTA $ 116,131
Retained Earnings $ 1,215
Total $ 60,730
Net Income (Loss) for the period ended 12/31/03 $ 1,566
(e) As of December 31, 2003, Centrales Termicas Mendoza, S.A., had a
Contract of Operation with CMS Operating S.R.L. This is a
consulting contract in connection with the operation and
maintenance of the facility. In 2003, total fees earned from the
contract were $556,683.
2. CENTRALES TERMICAS SAN NICOLAS, S.A. ("CTSN")
(a) Centrales Termicas San Nicolas, S.A.
Rivadavia S/N
2900 San Nicolas
Prov. Buenos Aires, Argentina
CTSN, an Argentine company, is owner and operator of a 650 MW
power plant located in San Nicolas, Argentina, north of Buenos
Aires, Argentina. The five-unit plant can be fueled by coal,
petroleum coke, oil or natural gas. CMS Generation Co. holds a
0.016% indirect ownership interest in CTSN.
(b) CMS Generation Co. has .1% interest in CMS Generation San
Nicolas Company, which has a .1% interest in Inversora San
Nicolas, S.A, which owns 88% interest in CTSN. The remaining 12%
interest is held by the Argentine government on behalf of the
facility's employees. See Exhibit B.
On July 7, 1995, AES Argentina, Inc. purchased a 99.9% ownership
interest in CMS Generation San Nicolas Company, represented by
9,990 newly issued shares, leaving CMS Generation Co. with a
0.016% indirect ownership interest in CTSN.
(c) As of December 31, 2003, CMS Generation San Nicolas Company had
invested approximately $4.2 million of equity in CTSN.
(d)
Capitalization at 12/31/03
Bank Loans
Long Term Debt (Partners Loans) $ 0.00
Shareholder's Equity $ 0.00
Total Capitalization $ 0.00
Net Income (Loss) for the period ended
12/31/03 $ 0.00
As stated in Claimant's Form U-3A-2 filed February 29,
1996, due to the nominal interest (.016%) of CTSN
indirectly owned by CMS Generation Co., capitalization
and earnings information of CTSN continues to be
unavailable.
(e) N/A
3. CMS DISTRIBUTED POWER, L.L.C.
(a) CMS Distributed Power, L.L.C. ("CDP")
One Energy Plaza
Jackson, Michigan 49201
CDP, a Michigan limited liability company, owns a 3.0 MW generator
facility located in Zilwaukee, Michigan.
(b) CMS Enterprises Company owns 100% of CDP.
(c) As of December 31, 2003 CMS Enterprises Company has invested
approximately $7.7 million of capital in CDP.
(d)
Capitalization at 12/31/03
Bank Loans (000s)
Long Term Debt (Partners Loans) $ 0
Shareholder's Equity $ 3,153
Total Capitalization $ 3,153
Net Income (Loss) for the period ended 12/31/03 $ (270)
(e) During the year 2003, CDP had no power purchase agreements.
4. CMS ENSENADA S.A. ("ENSENADA")
(a) CMS Ensenada S.A.
Edificio Torre Catalinas Plaza
Ing. Butty 220 8th Floor
(1101) Buenos Aires, Argentina
Ensenada, an Argentine company, is the owner of a 128 MW natural
gas-fired power plant, located on the grounds of YPF S.A.'s La
Plata oil refinery, located in the province of Buenos Aires,
Argentina.
(b) CMS Operating S.A. owns 99% and CMS Generation Holdings Company
owns 1% of CMS Ensenada S.A. See Exhibit B.
(c) As of December 31, 2003, CMS Operating S.A. had invested
approximately $42.54 million of equity in Ensenada.
(d)
Capitalization at 12/31/03 (000)
Shareholder's Equity $ 38,739
CTA $ (54,230)
Irrevocable Contribution $ 391
OPIC Loan (LT)s $ -
Retained Earnings $ (5,197)
Total Capitalization $ (20,297)
Net Income (Loss) for the period $ 8,603
ended 12/31/03
(e) As of December 31, 2003, CMS Ensenada S.A. maintains a 7-year
Operating and Maintenance Agreement with CMS Operating S.A. to
operate and maintain the La Plata cogeneration plant. This
agreement took effect in 1997. In 2003, total fees earned were
$193,856.
5. CMS (INDIA) OPERATIONS & MAINTENANCE COMPANY PRIVATE LIMITED
("CMS (INDIA)")
(a) CMS (India) Operations & Maintenance Company Private Limited
F-40 N.D.S.E. Part 1
New Delhi -- 110 149
India
(b) CMS (India), an Indian company, is the operator of a 250MW
lignite-fired power station located in Neyveli, Tamil Nadu,
India. The plant is a 50%-50% joint venture between CMS
Generation Neyveli Ltd and ABB Power Investment (India) B.V. The
plant achieved commercial operation on December 15, 2002.
(c) CMS International Operating Company owns 99% and CMS Generation
Investment Company VII owns 1% of CMS (India). As of December
31, 2003, CMS International Operating Company has invested
approximately $55,000 of equity in CMS (India).
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 58
Net Income (Loss) for the period ended 12/31/03 $ (443)
(e) As of December 31, 2003 CMS (India) O & M Private Ltd has an
operating maintenance agreement with ST-CMS, effective November
15, 1999. In 2003, $1,112,848 was earned as fees.
6. CMS GENERATION MICHIGAN POWER LLC
(a) CMS Generation Michigan Power LLC
One Energy Plaza
Jackson, Michigan 49201
CMS Generation Michigan Power LLC, a Michigan limited liability
company, owns a 68 MW natural gas-fired peaking facility located
in Comstock, Michigan and a 132 MW natural gas-fired peaking
facility located in Gaylord, Michigan.
(b) CMS Generation Co. owns 100% of CMS Generation Michigan Power
LLC. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Co. had invested
approximately $7 million of equity in CMS Generation Michigan
Power LLC.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 7,192
Net Income (Loss) for the period ended 12/31/03 $ (1,547)
(e) As of December 31, 2003, CMS Generation Michigan Power LLC had
an Operating and Maintenance Agreement with CMS Generation Co.
In 2003, no fees were earned from the agreement.
7. CMS GENERATION OPERATING COMPANY
(a) CMS Generation Operating Company
One Energy Plaza
Jackson, Michigan 49201
CMS Generation Operating Company, a Michigan corporation, is
the operator of a 68 MW natural gas-fired peaking facility
located in Comstock, Michigan and a 132 MW natural gas-fired
peaking facility located in Gaylord, Michigan.
(b) CMS Generation Co. owns 100% of CMS Generation Operating
Company. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Co. had invested
approximately $3.2 million in CMS Generation Operating Company.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 3,208
Net Income (Loss) for the period ended 12/31/03 $ 263
(e) N/A
8. CMS INTERNATIONAL OPERATING COMPANY
(a) CMS International Operating Company
c/o Maples and Calder
Ugland House
P.O. Box 309, South Church Street
George Town, Cayman Islands, British West Indies
CMS International Operating Company, a Cayman Islands company,
is the operator of a 220 MW combined cycle thermal power plant
under construction located at the Takoradi Power Plant Complex
near Takoradi at Aboadze in the Western Region of the Republic
of Ghana.
(b) CMS Generation Co. owns 100% of CMS International Operating
Company. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Co. had invested
approximately $11.4 million in CMS International Operating
Company.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 25,390
Cumulative Translation Adjustment $ 281
Net Income (Loss) for the period ended 12/31/03 $ 5,429
(e) NA
9. CMS MOROCCO OPERATING CO., SCA ("CMS MOROCCO")
(a) CMS Morocco Operating Co., SCA
BP 99 Sidi Bouzid
El Jadida
Morocco
CMS Morocco, a Moroccan company, operates two 330 MW electric
generating plants and two additional 348 MW electric generating
plants at the port of Jorf Lasfar on the Atlantic coast of
Morocco.
(b) Jorf Lasfar Aktiebolag, CMS Generation Investment Company I, CMS
International Operating Company, and CMS Generation Jorf Lasfar
III Limited Duration Company own 99.7%, 0.1%,
0.1%, and 0.1%, respectively, of CMS Morocco. See Exhibit B.
(c) As of December 31, 2003, Jorf Lasfar Aktiebolag, CMS Generation
Investment Company I, CMS International Operating Company, and
CMS Generation Jorf Lasfar III Limited Duration Company, had
invested approximately $11.4 million of equity in CMS Morocco.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 25,390
Net Income (Loss) for the period ended 12/31/03 $ 5,429
(e) N/A
10. DEARBORN GENERATION OPERATING, L.L.C. ("DEARBORN GENERATION
OPERATING")
(a) Dearborn Generation Operating, L.L.C.
One Energy Plaza
Jackson, Michigan 49201
Dearborn Generation Operating, a Michigan limited liability
company, is the operator of a 155 MW natural gas-fired facility
and an approximately 550 MW natural gas-fired facility under
construction located in Dearborn, Michigan.
(b) CMS Generation Co. owns 100% of Dearborn Generation Operating.
See Exhibit B.
(c) As of December 31, 2003, CMS Generation Co. had invested $3.5
million in Dearborn Generation Operating.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 4,539
Net Income (Loss) for the period ended 12/31/03 $ 246
(e) As of December 31, 2003, Dearborn Generation Operating had an
operating and maintenance agreement with Dearborn Industrial
Generation. In 2003 the total operating and management fees were
$605,552.
11. DEARBORN INDUSTRIAL GENERATION, L.L.C. ("DEARBORN INDUSTRIAL
GENERATION")
(a) Dearborn Industrial Generation, L.L.C.
One Energy Plaza
Jackson, Michigan 49201
Dearborn Industrial Generation, a Michigan limited liability
company, is the owner of a 155 MW natural gas-fired facility and
an approximately 550 MW natural gas-fired facility under
construction located in Dearborn, Michigan.
(b) Dearborn Industrial Energy, L.L.C. owns 100% of Dearborn
Industrial Generation. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Co. had invested $562
million in Dearborn Industrial Generation.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 19,335
Net Income (Loss) for the period ended 12/31/03 $ 7,535
(e) N/A
12. EXETER ENERGY LIMITED PARTNERSHIP
(a) Exeter Energy Limited Partnership
One Energy Plaza
Jackson, Michigan 49201
Exeter Energy Limited Partnership, a Connecticut limited
partnership, owns a 26 MW waste tire-fired facility located in
Sterling, Connecticut.
(b) CMS Generation Co., Exeter Management Company and Oxford/CMS
Development L.P. own 50%, 2% and 48%, respectively, of Exeter
Energy Limited Partnership. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Co. has invested
approximately $17 Million of equity in Exeter Energy Limited
Partnership.
(d)
Capitalization at 12/31/03 (000s)
Partners' Capital $ 17,023
Net Income (Loss) for the period ended 12/31/03 $ (1,323)
(e) As of December 31, 2003, Exeter Energy Limited Partnership had
an Operating and Maintenance Agreement with CMS Generation Co.
In 2003, no fees were earned from the agreement.
13. GVK INDUSTRIES LIMITED ("GVK")
(a) GVK Industries Limited
Road No. 1
Banjara Hills, Hyderabad
India
GVK, an Indian company, is owner of a 235 MW electric generating
plant located in Jegurupadu, Andra Pradesh, India.
(b) Jegurupadu CMS Generation Company Limited, owns 23.75% of GVK.
See Exhibit B.
(c) As of December 31, 2003, Jegurupadu CMS Generation Company
Limited had invested $33.6 million of equity in GVK, directly
and indirectly through Classic Investment I and Classic
Investment II.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 97,118
LT Liabilities $ 58,468
Net Income (Loss) for the period ended 12/31/03 $ 8,698
(e) As of December 31, 2003, GVK had a restated 10-year Operation
and Maintenance Agreement with Jegurupadu Operating, which
became effective on the commercial operation date of the steam
turbine unit. In 2003, total fees earned from the agreement were
$304,361.
14. HIDROELECTRICA EL CHOCON, S.A. ("HIDROELECTRICA")
(a) Hidroelectrica El Chocon, S.A.
Avenida Espana
3301 Capital Federal, Argentina
Hidroelectrica, an Argentine company, holds a thirty-year
concession to operate two hydroelectric power plants located 26
kilometers apart on the Limay River in Western Argentina. These
plants have a total generating capacity of 1,320 MW.
(b) CMS Generation, S.R.L. owns 2.48% of Hidroelectrica. CMS
Generation, S.R.L. also owns 25% of Hidroinvest, S.A., which
owns 59% of Hidroelectrica. CMS Generation Holdings Company owns
2.48% of Hidroelectrica. See Exhibit B.
(c) As of December 31, 2003, CMS Generation, S.R.L. has invested
approximately $11.6 million of equity in Hidroelectrica El
Chocon. CMS Generation, S.R.L.'s net investment in
Hidroelectrica El Chocon, S.A. was written down to $0 due to the
economic conditions in Argentina, which resulted in a negative
Currency Translation Adjustment.
(d) Capitalization at 12/31/03
Bank Loans $ 107
Shareholder's Equity $ 11,623
Cumulative Translation
Adjustment $ 11,733
Total Capitalization $ 22,355
Net Income (Loss) for the period ended 12/31/03 $ (4)
(e) N/A
15. JAMAICA PRIVATE POWER COMPANY LIMITED ("JAMAICA PRIVATE POWER")
(a) Jamaica Private Power Company Limited
100 Windward Road,
Kingston 2,
Jamaica, W.I.
Jamaica Private Power, a Jamaican company, is the owner of a 65
MW electric generating facility in Rockfort, Kingston, Jamaica.
(b) HCE-Rockfort Diesel, Inc. owns 45.07% of Jamaica Private Power.
See Exhibit B.
(c) As of December 31, 2003 HCE-Rockfort Diesel, Inc. had invested
approximately $34.3 million in Jamaica Private Power.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 69,230
Long-Term Debt $ 52,312
Net Income (Loss) for the period ended 12/31/03 $ 12,702
(e) As of December 31, 2003, Jamaica Private Power had an operating
agreement with Private Power. In 2003, total fees earned from
the agreement were $154,348.
16. JEGURUPADU OPERATING AND MAINTENANCE COMPANY ("JEGURUPADU
OPERATING")
(a) Jegurupadu Operating and Maintenance Company
F-40, N.D.S.E., Part I
New Delhi 110 149
India
Jegurupadu Operating, a Mauritius company, is the operator of a
235 MW electric generating plant located in Jegurupadu, Andra
Pradesh, India. The plant is owned by GVK Industries Limited.
(b) Jegurupadu O&M Company Mauritius, owns 60% of Jegurupadu
Operating. See Exhibit B.
(c) As of December 31, 2003, Jegurupadu O&M Company Mauritius had
invested approximately $3.2 million of equity in Jegurupadu
Operating.
(d)
Capitalization at 12/31/03 (000s)
Shareholders' Equity $ 902
Net Income (Loss) for the period ended 12/31/03 $ 770
(e) As of December 31, 2003, GVK Industries Limited had a restated
10-year Operation and Maintenance Agreement with Jegurupadu
Operating, which became effective on the commercial operation
date of the steam turbine unit. In 2003, total fees earned from
the agreement were $304,361.
17. JORF LASFAR ENERGY COMPANY SCA ("JORF LASFAR")
(a) Jorf Lasfar Energy Company SCA
BP 99 Sidi Bouzid
El Jadida
Morocco
Jorf Lasfar, a Moroccan company, operates through a
subcontractor, CMS Morocco Operating Co., S.C.A., four 330 MW
electric generating plants located at the port of Jorf Lasfar on
the Atlantic coast of Morroco.
(b) Jorf Lasfar Energiaktiebolag, Jorf Lasfar Power Energy
Aktiebolag, and Jorf Lasfar Handelsbolag own 25%, 23% and
2%, respectively, of Jorf Lasfar. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Investment Company IV
had invested approximately $256 million of equity in Jorf
Lasfar.
(d)
Capitalization at 11/30/03 (000s)
Shareholder's Equity $ 512,862
Long Term Loans $ 579,478
Net Income (Loss) for the period ended 11/30/03 $ 119,850
(e) As of December 31, 2003, Jorf Lasfar had an Operating and
Maintenance Agreement with CMS Morocco, which became effective
September 4, 1997. In 2003, total fees earned under the
agreement were $2,878,622.
18. JUBAIL ENERGY COMPANY
(a) Jubail Energy Company
Gate #9, SADAF Complex CGP
P.O. Box 11515
Jubail Industrial City 31961
Kingdom Saudi Arabia
Jubail Energy Company is a Saudi company that owns and operates
a 250 MW cogeneration facility selling steam and electricity to
the SADAF Petrochemical Facility in the Jubail Industrial City.
(b) CMS Jubail Investment Company I owns a 25% equity interest in
Jubail Energy Company.
(c) CMS Jubail Investment Company I has invested $11.3 million in
Jubail Energy Company.
(d) The cogeneration facility is currently under construction and
there were no earnings recognized in the most recent reporting
period.
(e) Jubail Energy Company has an On Shore and an Off Shore Technical
Services Agreement (TSA) with CMS Generation Co. The TSA is an
agreement that requires CMS Generation Co. to provide certain
operating and construction personnel and service to Jubail
Energy Company and provides for compensation for these services.
19. PRIVATE POWER OPERATORS LIMITED ("PRIVATE POWER")
(a) Private Power Operators Limited
100 Windward Road
Kingston 2,
Jamaica, W.I.
Private Power, a Jamaican company, is the operator of a 65 MW
electric generating facility in Rockfort, Kingston, Jamaica.
(b) HCO-Jamaica, Inc. owns 99% and HCE - Rockfort Diesel, Inc. owns
1% of Private Power. See Exhibit B.
(c) As of December 31, 2003, HCO-Jamaica, Inc. invested
approximately $10,000 of equity in Private Power.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 10
Net Income (Loss) for the period ended 12/31/03 $ 0
(e) N/A.
20. SHUWEIHAT CMS INTERNATIONAL POWER COMPANY
(a) Shuweihat CMS International Power Company
P.O. Box 52645
Al Ghaith Tower, 8th Floor
Hamden Street
Abu Dhabi, United Arab Emirates
Shuweihat CMS International Power Company, a U.A.E. Abu Dhabi
Emirate company, owns a generation and desalination facility in
Taweelah, Abu Dhabi.
(b) CMS Generation Investment Company VII owns 50% OF Shuweihat
General Partner Company and 49.5% of Shuweihat Limited
Partnership. Sheweihat General Partner Company owns 1% of
Shuweihat Limited Partnership. Shuweihat Limited Partnership
owns 40% of Shuweihat CMS International Power Company.
(c) As of December 31, 2003, CMS Generation Investment Company VII
had invested $150,000 of equity in Shuweihat CMS International
Power Company.
(d) Capitalization at 12/31/03 (000s)
Long Term Debt $ 1,300
Shareholder's Equity $ (134)
(e) As of December 31, 2003, Shuweihat CMS International Power
Company had a Management Support Agreement with Shuweihat
Limited Partnership dated June 4, 2002. As of December 31, 2003,
Shuweihat O&M Limited Partnership had an Operations and
Maintenance Agreement with Shuweihat CMS International Power
Company dated November 28, 2001.
21. SHUWEIHAT O&M LIMITED PARTNERSHIP
(a) Shuweihat O&M Limited Partnership
Suite 302, Old GASCo Building
Al Kubeirah Street
Corniche West
Abu Dhabi, United Arab Emirates
Shuweihat O&M Limited Partnership, a Cayman Islands limited
partnership, will be the operator of a generation and
desalination facility in Shuweihat, Abu Dhabi.
(b) CMS Generation Investment Company VII owns 49.5% of Shuweihat O
& M Limited Partnership. CMS Generation Investment Company VII
also owns 50% of Shuweihat O & M General Partner Company, which
owns 1% of Shuweihat O & M Limited Partnership.
(c) As of December 31, 2003, CMS Generation Investment Company VII
had invested no equity in Shuweihat O&M Limited Partnership.
(d) Capitalization at 12/31/03 (000's)
Long Term Debt $ 000
Partners' Capital $ 1,218
(e) As of December 31, 2003, Shuweihat O&M Limited Partnership had
an Operations and Maintenance Agreement with Shuweihat CMS
International Power Company dated November 28, 2001.
22. ST-CMS ELECTRIC COMPANY PVT. LTD. ("ST-CMS")
(a) ST-CMS Electric Company Pvt. Ltd.
F-40 N.D.S.E. Part - I
New Delhi -- 110 149
India
(b) ST-CMS is a 250 MW lignite-fired power station located in
Neyveli, Tamil Nadu, India. The project is a 50%-50% joint
venture between CMS Generation Neyveli Ltd. and ABB Power
Investment (India) B.V. The plant achieved commercial operation
on December 15, 2002.
(c) As of December 31, 2003, CMS Generation Neyveli Limited had
invested approximately $47 million of equity in ST-CMS.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 108,786
Long-Term Loans $ 238,178
Net Income (Loss) for the period ended 12/31/03 $ 11,013
(e) As of December 31, 2003 CMS (India) O & M Private Limited had an
operating & maintenance agreement with ST-CMS, effective
November 15, 1999. In 2002, $1,112,848 was earned in fees.
23. TAKORADI INTERNATIONAL COMPANY
(a) Takoradi International Company
c/o Maples and Calder
Ugland House
P.O. Box 309, South Church Street
George Town, Cayman Islands, British West Indies
Takoradi International Company, a Cayman Island company, is the
90% owner of a 220 MW combined cycle thermal power plant located
at the Takoradi Power Plant Complex near Takoradi at Aboadze in
the Western Region of the Republic of Ghana.
(b) CMS Takoradi Investment Company II owns 90% of Takoradi
International Company. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Investment Company VI
had invested approximately $113 million in Takoradi
International Company.
(d) Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 108,330
Net Income (Loss) for the period ended 12/31/03 $ 13,449
(e) As of December 31, 2003, there were two operating and management
fee agreements, one between CMS Generation Co. and Takoradi
International Company and the other between CMS
Generation Co. and Volta River Authority. In 2003, total
operating and management fees earned were $870,647.
FOREIGN UTILITY COMPANIES
1. CMS GENERATION HORIZON ENERGY HOLDINGS LIMITED
(a) CMS Generation Horizon Energy Holdings Limited
P.O. Box 309
Ugland House, South Church Street
Grand Cayman, Cayman Islands, British West Indies
CMS Generation Horizon Energy Holdings Limited, a Cayman Islands
company, is part-owner and operator of a 2,000 MW power station,
an associated lignite mine located at Loy Yang, Victoria,
Australia.
(b) CMS Generation Loy Yang Holdings 2 Ltd., a wholly owned
subsidiary of CMS Generation Investment Company I, owns 100% of
CMS Generation Horizon Energy Holdings Limited. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Investment Company I had
advanced approximately $150 million to CMS Generation Horizon
Energy Holdings Limited.
(d)
Capitalization at 12/31/03
(000s)
Shareholders Equity 154,718
Long-Term Loans $ 1,882,976
Net Income (Loss) for the period ended 12/31/03 $ (156,438)
(e) As of December 31, 2003, CMS Generation Horizon Energy Holdings
Limited was entitled to an Industry Expertise Fee pursuant to
the partnership agreement of Loy Yang Power Partners. In 2003,
no fees were paid from the agreement.
2. CMS OPERATING S.R.L.
(a) CMS Operating S.R.L.
Edificio torre Catalinas Plaza
Ing. Butty 220, 8th Floor
Buenos Aires, Argentina
CMS Operating S.R.L., an Argentine company, has ownership interest of
100% in and is the operator of Ensenada, an EWG. As of December 31,
2003, Centrales Termicas Mendoza S.A., located in Mendoza Argentina, has
an operation and maintenance contract, and a consulting contract with
CMS Operating S.R.L. Refer to EWG section item 1, part (e).
(b) CMS International Ventures, L.L.C. owns 99.999% of CMS Operating
S.R.L.
(c) As of December 31, 2003, CMS International Ventures, L.L.C. had
invested approximately $225 million of equity in CMS Operating
S.R.L.
(d)
Capitalization at 12/31/03 (000s)
Common Stock $ 35,785
Irrevocable Contributions $ 203,361
Retained Earnings $ (2,067)
CTA $(173,076)
Total $ (64,003)
Net Income (Loss) for the period ended 12/31/03 $ 3,720
(e) N/A
3. COMPANHIA JAGUARI DE ENERGIA S.A.("JAGUARI")
(a) Companhia Jaguari de Energia S.A.
Vigato 1.620, Street
Jaguariuna -- SP -- Brazil
Zip Code 13820-000
Jaguari, a Brazilian company, owns and operates an electricity
distribution concession located in the state of Sao Paulo.
Jaguari is a non-traded utility company controlled by CPEE.
Jaguari serves approximately 25,000 customers.
(b) Jaguari is 100% owned by Sul Paulista. See CPEE below and
Exhibit B.
(c) As of December 31, 2003, Sul Paulista has invested $31 million
in Jaguari.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 31,179
Net Income (Loss) for the period ended 12/31/03 $ 5,980
(e) N/A
4. COMPANHIA LUZ E FORCA DE MOCOCA ("MOCOCA")
(a) Companhia Luz e Forca de Mococa
Vigato 1.620, Street -- 1st Floor -- Room 3
Jaguariuna -- SP- Brazil
Zip Code 13820-000
Mococa, a Brazilian company, owns and operates an electricity
distribution concession located in the state of Sao Paulo and
the State of Minas Gerais, Brazil. Mococa is a non-traded
utility company controlled by CPEE. Mococa serves approximately
34,000 customers.
(b) Mococa is 100% owned by Jaguari . See CPEE below and Exhibit B.
(c) As of December 31, 2003, Jaguari has invested $8.6 million in
Mococa.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 8,573
Net Income (Loss) for the period ended 12/31/03 $ 1,056
(e) N/A
5. COMPANHIA PAULISTA DE ENERGIA ELECTRICA ("CPEE")
(a) Companhia Paulista de Energia Electrica
Vigato 1.620, Street -- 1st Floor -- room 1
Jaguariuna -- SP --Brazil
Zip Code 13820-000
CPEE, a Brazilian company, owns and operates an electricity
distribution concession in the state of Sao Paulo, Brazil and
also has a controlling interest in 3 other non-traded utility
companies which own and operate electricity distribution
concessions located in the state of Sao Paulo and in the state
of Minas Gerais. CPEE and its controlled companies serve
approximately 160,000 customers. CPEE also owns a 7 percent
interest in Investco S.A., which owns an 850 MW hydroelectric
plant, which started commercial operations in December 2001.
(b) CMS Participacoes Ltda. owns 93.86% of CPEE. See Exhibit B.
(c) As of December 31, 2003, CMS Participacoes Ltda. has invested
$90 million in CPEE.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 55,082
Net Income (Loss) for the period ended 12/31/03 $ 9,900
(e) N/A
6. COMPANHIA SUL PAULISTA DE ENERGIA ELECTRICA ("SUL PAULISTA")
(a) Companhia Sul Paulista de Energia
Vigato 1.620, Street -- 1st Floor -- Room 2
Jaguariuna -- SP - Brazil
Zip Code 13820-000
Sul Paulista, a Brazilian company, owns and operates an
electricity distribution concession located in the state of Sao
Paulo. Sul Paulista is a non-traded utility company controlled
by CPEE. Sul Paulista serves approximately 58,000 customers.
(b) Sul Paulista is 88.63% owned by CPEE. See CPEE above and Exhibit
B.
(c) As of December 31, 2003, CPEE has invested $47 million in Sul
Paulista.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 53,567
Net Income (Loss) for the period ended 12/31/03 $ 10,190
(e) N/A
7. EMIRATES CMS POWER COMPANY
(a) Emirates CMS Power Company
P.O. Box 47688
United Arab Emirates
Al Mansoor Tower,
7th Floor, Suite 701
Abu Dhabi
Emirates CMS Power Company, a U.A.E. Abu Dhabi Emirate company,
owns a generation and desalination facility in Taweelah, Abu
Dhabi.
(b) CMS Generation Taweelah Limited owns 40% of Emirates CMS Power
Company.
(c) As of December 31, 2003, CMS Generation Taweelah Limited had
invested $74 million in equity of Emirates CMS Power Company.
(d)
Capitalization at 11/30/03 (000s)
Term Loan $ 509,727
Shareholder Loan $ 70,845
Retained Earnings $ 33,896
MTW $ (66,104)
Shareholder's Equity $ 112,588
Total Capitalization $ 660,952
Net Income (Loss) for the period ended 11/30/03 $ 27,472
(e) N/A
8. HORIZON ENERGY HOLDINGS LTD. ("HORIZON ENERGY")
(a) Horizon Energy Holdings Ltd.
P.O. Box 309
Ugland House, South Church Street
Grand Cayman, Cayman Islands, British West Indies
Horizon Energy, a Cayman Islands company, is part-owner and
operator of a 2,000 MW power station and associated lignite mine
located at Loy Yang, Victoria, Australia.
(b) CMS Generation Loy Yang Holdings 1 Ltd., a wholly owned
subsidiary of CMS Generation Investment Company I, owns 100% of
Horizon Energy. See Exhibit B.
(c) As of December 31, 2003, CMS Generation Investment Company I had
advanced approximately $149 million in Horizon Energy.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 154,718
Long-Term Loans $ 1,882,976
Net Income (Loss) for the period ended 12/31/03 $ (156,438)
(e) N/A.
9. LOY YANG POWER PARTNERS
(a) Loy Yang Power Partners
Bartons Line
Taralgon, Victoria, Australia
3844
Loy Yang Power Partners is the operator of a 2,000 MW power
station and associated lignite mine located at Loy Yang,
Victoria, Australia.
(b) CMS Generation Horizon Energy Holdings Ltd. owns 25% and Horizon
Energy Holdings Ltd. owns 24.63% of Loy Yang Power Partners. See
Exhibit B.
(c) As of December 31, 2003, CMS Generation Horizon Energy Holdings
Ltd. had invested approximately $242 million of equity and
Horizon Energy Holdings Ltd. had invested approximately $238
million of equity in Loy Yang Power Partnership.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 154,718
Long-Term Loans $ 1,882,976
Net Income (Loss) for the period ended 12/31/03 $ (156,438)
(e) As of December 31, 2003, CMS Generation Horizon Energy Holdings
Limited was entitled to an Industry Expertise Fee pursuant to
the partnership agreement of Loy Yang Power Partners. In 2003,
no fees were paid from the agreement.
10. SISTEMA ELECTRICO DEL ESTADO NUEVA ESPARTA C.A. ("SENECA")
(a) Sistema Electrico del Estado Nueva Esparta C.A.
San Lorenzo
Pampatar, Nueva Esparta (6312)
Venezuela
SENECA, a Venezuelan company, is the owner of 200 MW of
diesel-fired power generation units located on Margarita Island,
Venezuela. SENECA also owns and operates an electric
distribution system located on Margarita Island, Venezuela,
serving approximately 104,000 customers.
(b) CMS Electric & Gas, L.L.C. owns 100% of ENELMAR. ENELMAR owns
29.50% of SENECA. CMS Electric & Gas L.L.C. owns 100% of CMS
Venezuela. CMS Venezuela owns 57.86% of SENECA. See Exhibit B.
(c) As of December 31, 2003, ENELMAR had invested $3.9 million in
SENECA. As of December 31, 2003, CMS Venezuela had invested
$13.8 million in SENECA.
(d) Capitalization at 12/31/03 (000s)
Shareholder's Equity $ 160,285
Net Income (Loss) for the period ended 12/31/03 $ (5,632)
(e) N/A
11. TAWEELAH A2 OPERATING COMPANY ("TAWEELAH")
(a) Taweelah A2 Operating Company
c/o CMS Generation Co.
One Energy Plaza
Jackson, Michigan 49201
Taweelah operates a 710.3 MW generation and desalination
facility in Taweelah, Abu Dhabi.
(b) CMS Generation Co. owns 100% of Taweelah
(c) As of December 31, 2003, CMS Generation Co. had invested
approximately $2.37 million of equity in Taweelah.
(d)
Capitalization at 12/31/03 (000s)
Shareholder's Capital $ 1,565
Retained Earnings $ 801
Shareholder's Equity $ 2,366
Net Income (Loss) for the period ended 12/31/03 $ 1,160
(e) As of December 31, 2003, there was an operating and management
agreement between Taweelah and Emirates CMS Power Company
pursuant to which total fees earned were $1,159,973.
The above-named Claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 31st day of March 2004.
CMS ENERGY CORPORATION
A Michigan corporation
[CORPORATE SEAL] By: /s/ Thomas J. Webb
-------------------------
Thomas J. Webb
Executive Vice President and
Chief Financial Officer
ATTEST:
/s/ Wendy A. Edelson
------------------------------
Wendy A. Edelson
Corporate Counsel
Name, title, and address of officer to whom notices and correspondence
concerning this Statement should be addressed:
S. Kinnie Smith, Jr.
Vice Chairman of the Board
and General Counsel
One Energy Plaza
Jackson, Michigan 49201
March 31, 2004
EXHIBIT A
A consolidating statement of income and surplus of CMS Energy and its subsidiary
companies for the last calendar year, together with a consolidating balance
sheet of CMS Energy and its subsidiary companies as of the close of such
calendar year is attached.
CMS ENERGY CORPORATION
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions, except Per Share Amounts)
Consumers CMS Inter- CMS
Energy Enterprises company Energy
CMS Energy Company Company Elimina- Corporation
Corp. (1) Consol. Consol. tions Consol.
Operating Revenue $ 1 $ 4,435 $ 1,193 $ (116) $ 5,513
------------------------------------------------------------
Earnings from Equity Method Investees - 42 122 - 164
------------------------------------------------------------
Operating Expenses
Fuel for electric generation - 320 10 (74) 256
Purchased and interchange power - 310 309 70 689
Purchased power-related parties - 519 6 (70) 455
Cost of gas sold - 1,249 577 (35) 1,791
Other operation expenses 6 739 204 2 951
Maintenance - 199 27 - 226
Depreciation and amortization 1 377 50 - 428
General taxes (42) 181 52 - 191
Asset impairment charges - - 95 - 95
------------------------------------------------------------
Total operating expenses (35) 3,894 1,330 (107) 5,082
------------------------------------------------------------
Operating Income (Loss) 36 583 (15) (9) 595
------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates (9) 2 46 (33) 6
Interest and dividends 4 8 16 - 28
Accretion expense - (7) (22) - (29)
Gain (loss) on asset sales, net - 2 (5) - (3)
Other, net 212 (10) 8 (198) 12
------------------------------------------------------------
Total other income (deductions) 207 (5) 43 (231) 14
------------------------------------------------------------
Fixed Charges
Interest on long-term debt 258 196 19 - 473
Interest on long-term debt-related parties 13 45 - - 58
Other interest 57 13 22 (33) 59
Capitalized interest - (9) - - (9)
Preferred dividends 1 2 - - 3
Preferred securities distributions 10 - - - 10
------------------------------------------------------------
Net fixed charges 339 247 41 (33) 594
------------------------------------------------------------
Income (Loss) from Continuing Operations before
Income Taxes and Minority Interests (96) 331 (13) (207) 15
Income Tax Expense (Benefit) (72) 137 (4) (3) 58
Minority Interests - - - - -
------------------------------------------------------------
Income (Loss) from Continuing Operations (24) 194 (9) (204) (43)
Discontinued Operations (14) - 37 - 23
Cumulative Effect of Accounting Change - - (24) - (24)
------------------------------------------------------------
Net Income (Loss) before Common Stock
Dividends (38) 194 4 (204) (44)
Dividends on Common Stock - 218 133 (351) -
------------------------------------------------------------
Net Income (Loss) after Common Stock
Dividends $ (38) $ (24) $ (129) $ 147 $ (44)
============================================================
Average Number of CMS Energy Common
Shares Outstanding 150,434
Basic Earnings per CMS Energy Average
Common Share $ (0.30)
Diluted Earnings per CMS Energy Average
Common Share $ (0.30)
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
CONSUMERS ENERGY COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
Consumers Consumers CMS Inter- Consumers
Consumers Receivables Consumers Campus Midland CMS company Energy
Energy Funding (I & II) Funding Holdings Holdings Midland Elimina- Company
Company (2) LLC LLC LLC Company Inc. tions Consol.
Operating Revenue $ 4,438 $ 4 $ 1 $ 2 $ - $ - $ (10) $ 4,435
Earnings from Equity Method Investees - - - - 13 29 - 42
----------------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation 320 - - - - - - 320
Purchased power-related parties 519 - - - - - - 519
Purchased and interchange power 310 - - - - - - 310
Cost of gas sold 1,221 - - - - - - 1,221
Cost of gas sold-related parties 28 - - - - - - 28
Other operation expense 738 4 1 2 - - (6) 739
Maintenance 199 - - - - - - 199
Depreciation and amortization 376 - - - - 1 - 377
General taxes 181 - - - - - - 181
----------------------------------------------------------------------------------
Total operating expenses 3,892 4 1 2 - 1 (6) 3,894
----------------------------------------------------------------------------------
Operating Income 546 - - - 13 28 (4) 583
----------------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 2 - 22 - - - (22) 2
Accretion expense (7) - - - - - - (7)
Other, net 20 - - - - - (20) -
----------------------------------------------------------------------------------
Total other income (deductions) 15 - 22 - - - (42) (5)
----------------------------------------------------------------------------------
Interest Charges
Interest on long-term debt 174 - 22 - - - - 196
Interest on long-term debt-related parties 45 - - - - - - 45
Other interest 39 - - - - - (26) 13
Capitalized interest (9) - - - - - - (9)
----------------------------------------------------------------------------------
Net interest charges 249 - 22 - - - (26) 245
----------------------------------------------------------------------------------
Income before Income Taxes 312 - - - 13 28 (20) 333
Income Taxes 116 - - - 11 10 - 137
----------------------------------------------------------------------------------
Income before Accounting Change 196 - - - 2 18 (20) 196
Cumulative Effect of Accounting Change - - - - - - - -
----------------------------------------------------------------------------------
Net Income 196 - - - 2 18 (20) 196
Preferred Stock Dividends 2 - - - - - - 2
Preferred Securities Distribution - - - - - - - -
----------------------------------------------------------------------------------
Net Income Available to Common Stockholder 194 - - - 2 18 (20) 194
Dividends on Common Stock 218 - - - - - - 218
----------------------------------------------------------------------------------
Net Income (Loss) after Common Dividends $ (24) $ - $ - $ - $ 2 $ 18 $ (20) $ (24)
==================================================================================
(2) Represents Consumers Energy Company, CMS Engineering Company, ES Services
Company, Consumers Nuclear Services LLC, Consumers Parnell Holdings LLC and
Consumers EnergyGuard Services, Inc. consolidated with Consumers Receivables
Funding LLC, Consumers Receivables Funding II LLC, Consumers Funding LLC,
Consumers Campus Holdings LLC, CMS Midland Holdings Company and CMS Midland,
Inc. included on the equity method of accounting.
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
CMS CMS Gas CMS CMS
CMS Generation Transmission Energy Int'l CMS CMS
Enterprises Co. Company Resource Mgt. Vent. LLC Capital Land
Company (3) Consol. Consol. Company Consol. LLC Company
Operating Revenue $ 19 $ 271 $ 25 $ 882 $190 $ 6 $ -
----------------------------------------------------------------------------------------
Earnings from Equity Method Investees - 95 - 1 26 - $ -
----------------------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation (1) 69 - - 21 - -
Purchased and interchange power - - - 179 51 - -
Purchased power-related parties - 35 - 71 - - -
Cost of gas sold - 26 1 591 - - -
Other operation expense 16 93 25 39 40 4 -
Maintenance - 14 2 - 11 - -
Depreciation and amortization 2 13 6 10 18 - -
General taxes 2 17 3 4 26 - -
Asset impairment charges 7 16 - - 72 - -
----------------------------------------------------------------------------------------
Total operating expenses 26 283 37 894 239 4 -
----------------------------------------------------------------------------------------
Operating Income (Loss) (7) 83 (12) (11) (23) 2 -
----------------------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 25 2 7 23 3 29 -
Interest and dividends 3 2 3 1 4 3 -
Accretion expense - - - (22) - - -
Gain (loss) on asset sales - - (4) (5) - - 3
Other, net 48 20 21 (7) 2 - -
----------------------------------------------------------------------------------------
Total other income (deductions) 76 24 27 (10) 9 32 3
----------------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt 13 3 1 - 2 - -
Other interest 30 12 1 5 2 13 2
Capitalized interest - - - - - - -
----------------------------------------------------------------------------------------
Net fixed charges 43 15 2 5 4 13 2
----------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 26 92 13 (26) (18) 21 1
Income Tax Expense (Benefit) (6) 7 8 (6) 13 7 -
Minority Interests - 2 - - (3) - -
----------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations 32 83 5 (20) (28) 14 1
Discontinued Operations (10) - (1) (15) 74 - -
Cumulative Effect of Accounting Change - - (1) (23) - - -
----------------------------------------------------------------------------------------
Net Income (Loss) $ 22 $ 83 $ 3 $ (58) $ 46 $ 14 $ 1
========================================================================================
(Continued on Following Page)
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS Inter- CMS
Technology CMS company Enterprises
Companies Texas Elimina- Company
(4) LLC tions Consol.
Operating Revenue $ - $ - $ (200) $ 1,193
-----------------------------------------------
Earnings from Equity Method Investees - - - 122
-----------------------------------------------
Operating Expenses
Fuel for electric generation - - (79) 10
Purchased and interchange power - - 79 309
Purchased power-related parties - - (100) 6
Cost of gas sold - - (41) 577
Other operation expense - 4 (17) 204
Maintenance - - - 27
Depreciation and amortization 1 - - 50
General taxes - - - 52
Asset impairment charges - - - 95
-----------------------------------------------
Total operating expenses 1 4 (158) 1,330
-----------------------------------------------
Operating Income (Loss) (1) (4) (42) (15)
-----------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - - (43) 46
Interest and dividends - - - 16
Accretion expense - - - (22)
Gain (loss) on asset sales 1 - - (5)
Other, net - - (76) 8
-----------------------------------------------
Total other income (deductions) 1 - (119) 43
-----------------------------------------------
Fixed Charges
Interest on long-term debt - - - 19
Other interest - - (43) 22
Capitalized interest - - - -
-----------------------------------------------
Net fixed charges - - (43) 41
-----------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests - (4) (118) (13)
Income Tax Expense (Benefit) - (1) (26) (4)
Minority Interests - - 1 -
-----------------------------------------------
Income (Loss) from Continuing Operations - (3) (93) (9)
Discontinued Operations - - (11) 37
Cumulative Effect of Accounting Change - - - (24)
-----------------------------------------------
Net Income (Loss) $ - $ (3) $ (104) $ 4
===============================================
(3) Represents CMS Enterprises Company, CMS Resource Development Company, CMS
Comercializadora de Energia SA, CMS Enterprises Holding Company SA, CMS Energy
South America Company, CMS Energy Asia Private Limited, CMS Business Development
LLC and CMS Energy UK Limited consolidated with CMS Generation Co., CMS Gas
Transmission Company, CMS Energy Resource Management Company, CMS International
Ventures LLC, CMS Capital LLC, CMS Land Company and CMS Texas LLC included on
the equity method of accounting.
(4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS
Enterprises Development LLC.
CMS GENERATION CO.
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
TES Genesee Grayling Dearborn Taweelah
CMS Filer City Power Generating Industrial Exeter A2
Generation LP LP LP Generation Energy Operating
Co. (5) Consol. (6) (7) LLC LP Company
Operating Revenue $ 1 $32 $ 16 $17 $101 $ 8 $ 4
--------------------------------------------------------------------------------------
Earnings from Equity Method Investees 2 - - - - - $ -
--------------------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation - 9 - - 14 - -
Purchased power-related parties - - - - 35 - -
Cost of gas sold - - - - 26 - -
Other operation expense 26 9 8 9 16 7 3
Maintenance - - 2 - 7 - -
Depreciation and amortization 2 3 2 2 2 1 -
General taxes 1 6 1 1 6 1 -
Asset impairment charges 5 - - - - - -
--------------------------------------------------------------------------------------
Total operating expenses 34 27 13 12 106 9 3
--------------------------------------------------------------------------------------
Operating Income (Loss) (31) 5 3 5 (5) (1) 1
--------------------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - - - - - - -
Interest and dividends 1 - 1 - - - -
Other, net 110 - - (2) (1) - -
--------------------------------------------------------------------------------------
Total other income (deductions) 111 - 1 (2) (1) - -
--------------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - 3 - - -
Other interest 3 3 5 - 1 - -
Capitalized interest - - - - - - -
--------------------------------------------------------------------------------------
Net fixed charges 3 3 5 3 1 - -
--------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 77 2 (1) - (7) (1) 1
Income Tax Expense (Benefit) (6) - - - - - -
Minority Interests - 1 - - - - -
--------------------------------------------------------------------------------------
Net Income (Loss) $ 83 $ 1 $ (1) $ - $ (7) $ (1) $ 1
======================================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
(Continued from Previous Page)
CMSG CMSG CMSG CMSG CMSG CMSG HYDRA-CO
Michigan Int'l Investment Investment Investment Honey Enterprises,
Power Operating Co. Co. Co. Lake Inc.
LLC Co. Consol. IV VI VII Company Consol.
Operating Revenue $ 2 $ 8 $ - $ 6 $ - $ - $ 3
-----------------------------------------------------------------------------------
Earnings from Equity Method Investees - - 1 - 11 2 $11
-----------------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation 1 - - 4 - - -
Purchased power-related parties - - - - - - -
Cost of gas sold - - - - - - -
Other operation expense 1 2 - 1 - - 3
Maintenance - - - - - - -
Depreciation and amortization 1 - - - - - -
General taxes 1 - - - - - -
Asset impairment charges - - - - - - -
-----------------------------------------------------------------------------------
Total operating expenses 4 2 - 5 - - 3
-----------------------------------------------------------------------------------
Operating Income (Loss) (2) 6 1 1 11 2 11
-----------------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - 1 - - - - -
Interest and dividends - - - - - - -
Other, net - 1 2 - - - -
-----------------------------------------------------------------------------------
Total other income (deductions) - 2 2 - - - -
-----------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - - - -
Other interest - - - - - - -
Capitalized interest - - - - - - -
-----------------------------------------------------------------------------------
Net fixed charges - - - - - - -
-----------------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests (2) 8 3 1 11 2 11
Income Tax Expense (Benefit) - 3 - - - 1 4
Minority Interests - - - - - - -
-----------------------------------------------------------------------------------
Net Income (Loss) $(2) $ 5 $ 3 $ 1 $11 $ 1 $ 7
===================================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- CMS
CMSG company Generation
Investment Elimina- Company
Co. I tions Consol.
Operating Revenue $ 74 $ (1) $271
----------------------------------
Earnings from Equity Method Investees 68 - 95
----------------------------------
Operating Expenses
Fuel for electric generation 41 - 69
Purchased power-related parties - - 35
Cost of gas sold - - 26
Other operation expense 9 (1) 93
Maintenance 5 - 14
Depreciation and amortization - - 13
General taxes - - 17
Asset impairment charges 11 - 16
----------------------------------
Total operating expenses 66 (1) 283
----------------------------------
Operating Income (Loss) 76 - 83
----------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 4 (3) 2
Interest and dividends - - 2
Other, net 5 (95) 20
----------------------------------
Total other income (deductions) 9 (98) 24
----------------------------------
Fixed Charges
Interest on long-term debt - - 3
Other interest 3 (3) 12
Capitalized interest - - -
----------------------------------
Net fixed charges 3 (3) 15
----------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 82 (95) 92
Income Tax Expense (Benefit) 5 - 7
Minority Interests 1 - 2
----------------------------------
Net Income (Loss) $ 76 $ (95) $ 83
==================================
(5) Represents CMS Generation Company, CMSG Altoona Company, CMSG Chateaugay
Company, CMSG Filer City Operating Company, Exeter Management Company, CMSG
Operating Company, CMSG Recycling Company and Dearborn Generation Operating LLC
consolidated with CMSG Filer City, Inc., CMS International Operating Company,
CMSG Investment Company IV, CMSG Investment Company VI, CMSG Investment Company
VII and HYDRA-CO Enterprises, Inc. included on the equity method of accounting.
(6) Includes CMSG Genesee Company, CMSG Holdings Company and GPS Newco LLC.
(7) Includes CMSG Grayling Company and CMSG Grayling Holdings Company.
TES FILER CITY STATION LP
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
TES Inter- TES
CMSG Filer City company Filer City
Filer City Station Elimina- LP
Inc. LP tions Consol.
Operating Revenue $ - $ 32 $ - $ 32
----------------------------------------------
Earnings from Equity Method Investees - - - -
----------------------------------------------
Operating Expenses
Fuel for electric generation - 9 - 9
Purchased power-related parties - - - -
Cost of gas sold - - - -
Other operation expense - 9 - 9
Maintenance - - - -
Depreciation and amortization - 3 - 3
General taxes - 6 - 6
Asset impairment charges - - - -
----------------------------------------------
Total operating expenses - 27 - 27
----------------------------------------------
Operating Income (Loss) - 5 - 5
----------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - - - -
Interest and dividends - - - -
Other, net 1 - (1) -
----------------------------------------------
Total other income (deductions) 1 - (1) -
----------------------------------------------
Fixed Charges
Interest on long-term debt - - - -
Other interest - 3 - 3
Capitalized interest - - - -
----------------------------------------------
Net fixed charges - 3 - 3
----------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 1 2 (1) 2
Income Tax Expense (Benefit) - - - -
Minority Interests - - 1 1
----------------------------------------------
Net Income (Loss) $ 1 $ 2 $(2) $ 1
==============================================
CMS INT'L OPERATING COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
CMS CMS CMS CMS Inter- CMS
Int'l UK Jorf Morocco India O&M company Int'l
Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating
Co. (8) Limited Aktiebolag SCA Limited tions Consol.
Operating Revenue $(4) $ - $ - $ 8 $ 4 $ - $ 8
--------------------------------------------------------------------------------------
Earnings from Equity Method Investees - - - - - - -
--------------------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation - - - - - - -
Purchased power-related parties - - - - - - -
Cost of gas sold - - - - - - -
Other operation expense - - - - 2 - 2
Maintenance - - - - - - -
Depreciation and amortization - - - - - - -
General taxes - - - - - - -
Asset impairment charges - - - - - - -
--------------------------------------------------------------------------------------
Total operating expenses - - - - 2 - 2
--------------------------------------------------------------------------------------
Operating Income (Loss) (4) - - 8 2 - 6
--------------------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 1 - - - - - 1
Interest and dividends - - - - - - -
Other, net 7 6 5 - - (17) 1
--------------------------------------------------------------------------------------
Total other income (deductions) 8 6 5 - - (17) 2
--------------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - - - -
Other interest - - - - - - -
Capitalized interest - - - - - - -
--------------------------------------------------------------------------------------
Net fixed charges - - - - - - -
--------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 4 6 5 8 2 (17) 8
Income Tax Expense (Benefit) (1) - - 3 1 - 3
Minority Interests - - - - - - -
--------------------------------------------------------------------------------------
Net Income (Loss) $ 5 $ 6 $ 5 $ 5 $ 1 $ (17) $ 5
======================================================================================
(8) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC
consolidated.
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
CMSG HCE Inter- HYDRA-CO
HYDRA-CO Operating Rockport company Enterprises,
Enterprises, Company Diesel, Elimina- Inc.
Inc. (9) II Inc. tions Consol.
Operating Revenue $ - $ 3 $ - $ - $ 3
------------------------------------------------------------
Earnings from Equity Method Investees 3 - 8 - 11
------------------------------------------------------------
Operating Expenses
Fuel for electric generation - - - - -
Purchased power-related parties - - - - -
Cost of gas sold - - - - -
Other operation expense 1 2 - - 3
Maintenance - - - - -
Depreciation and amortization - - - - -
General taxes - - - - -
Asset impairment charges - - - - -
------------------------------------------------------------
Total operating expenses 1 2 - - 3
------------------------------------------------------------
Operating Income (Loss) 2 1 8 - 11
------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - - - - -
Interest and dividends - - - - -
Other, net 6 - - (6) -
------------------------------------------------------------
Total other income (deductions) 6 - - (6) -
------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - -
Other interest - - - - -
Capitalized interest - - - - -
------------------------------------------------------------
Net fixed charges - - - - -
------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 8 1 8 (6) 11
Income Tax Expense (Benefit) 1 - 3 - 4
Minority Interests - - - - -
------------------------------------------------------------
Net Income (Loss) $ 7 $ 1 $ 5 $ (6) $ 7
============================================================
(9) Represents HYDRA-CO Enterprises, Inc., CMSG Stratton Company, HCE Biopower,
Inc., HCO-Jamaica, Inc., HCE Jamaica Development, Inc. and New Bern Energy
Recovery, Inc. consolidated.
CMS GAS TRANSMISSION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
CMS Gas CMS CMS CMS CMS
Transmission Energy CMS Gas Antrim Grand Bay Area CMS
Company Investment Argentina Gas Lacs Pipeline Jackson
(10) LLC Company LLC LLC LLC LLC
Operating Revenue $ 3 $ 1 $ 1 $10 $ 4 $ 4 $ 2
---------------------------------------------------------------------------------------
Earnings from Equity Method Investees - - - - - - $ -
---------------------------------------------------------------------------------------
Operating Expenses
Cost of gas sold 1 - - - - - -
Other operation expense 19 1 - 2 - 1 -
Maintenance - - - 1 1 - -
Depreciation and amortization - - - 3 1 1 1
General taxes 2 - 1 - - - -
---------------------------------------------------------------------------------------
Total operating expenses 22 1 1 6 2 2 1
---------------------------------------------------------------------------------------
Operating Income (Loss) (19) - - 4 2 2 1
---------------------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 3 - - - - - -
Interest and dividends 3 - - - - - -
Gain (loss) on asset sales (4) - - - - - -
Other, net 97 - - - - - -
---------------------------------------------------------------------------------------
Total other income (deductions) 99 - - - - - -
---------------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - 1 - - -
Other interest 2 - - 1 - - -
Capitalized interest - - - - - - -
---------------------------------------------------------------------------------------
Net fixed charges 2 - - 2 - - -
---------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 78 - - 2 2 2 1
Income Tax Expense (Benefit) 19 - - (8) (1) (2) (1)
Minority Interests - - - - - - -
---------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations 59 - - 10 3 4 2
Discontinued Operations (56) - - - - - -
Cumulative Effect of Accounting Change - - - (1) - - -
---------------------------------------------------------------------------------------
Net Income (Loss) $ 3 $ - $ - $ 9 $ 3 $ 4 $ 2
=======================================================================================
(Continued on Following Page)
CMS GAS TRANSMISSION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS Panhandle CMS Inter- CMS Gas
Marysville Eastern Field company Transmission
Gas Liquids Pipe Line Services Elimina- Company
Company Company Inc. tions Consol.
Operating Revenue $ - $ - $ - $ - $25
------------------------------------------------------------
Earnings from Equity Method Investees - - - - -
------------------------------------------------------------
Operating Expenses
Cost of gas sold - - - - 1
Other operation expense - 2 - - 25
Maintenance - - - - 2
Depreciation and amortization - - - - 6
General taxes - - - - 3
------------------------------------------------------------
Total operating expenses - 2 - - 37
------------------------------------------------------------
Operating Income (Loss) - (2) - - (12)
------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - 6 - (2) 7
Interest and dividends - - - - 3
Gain (loss) on asset sales - - - - (4)
Other, net - - - (76) 21
------------------------------------------------------------
Total other income (deductions) - 6 - (78) 27
------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - 1
Other interest - - - (2) 1
Capitalized interest - - - - -
------------------------------------------------------------
Net fixed charges - - - (2) 2
------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests - 4 - (76) 13
Income Tax Expense (Benefit) - 1 - - 8
Minority Interests - - - - -
------------------------------------------------------------
Income (Loss) from Continuing Operations - 3 - (76) 5
Discontinued Operations (3) 62 (4) - (1)
Cumulative Effect of Accounting Change - - - - (1)
------------------------------------------------------------
Net Income (Loss) $ (3) $ 65 $ (4) $ (76) $ 3
============================================================
(10) Represents CMS Gas Transmission Company, CMS Saginaw Bay Lateral Company
and CMS Litchfield LLC consolidated.
CMS INT'L VENTURES LLC
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
CMS CMSG CMS Western
CMS Operating Invest. Electric & Gas Australia CMSG
Int'l Ventures SRL Co. III LLC GT Co. I Invest.
LLC (11) Consol. Consol. Consol. Consol. Co. V
Operating Revenue $ - $62 $ - $125 $ 3 $ -
----------------------------------------------------------------------------
Earnings from Equity Method Investees - 1 (1) - 23 6
----------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation - 21 - - - -
Purchased and interchange power - 13 - 38 - -
Other operation expense 3 7 - 29 - -
Maintenance - 6 - 5 - -
Depreciation and amortization - 7 1 9 - -
General taxes - - - 26 - -
Asset impairment charges - - - 72 - -
----------------------------------------------------------------------------
Total operating expenses 3 54 1 179 - -
----------------------------------------------------------------------------
Operating Income (Loss) (3) 9 (2) (54) 26 6
----------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - 3 - - - -
Interest and dividends - - - 4 - -
Other, net 49 (5) - (1) 1 -
----------------------------------------------------------------------------
Total other income (deductions) 49 (2) - 3 1 -
----------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - 2 - - - -
Other interest - - - 2 - -
Capitalized interest - - - - - -
----------------------------------------------------------------------------
Net fixed charges - 2 - 2 - -
----------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 46 5 (2) (53) 27 6
Income Tax Expense (Benefit) - 4 - 4 5 -
Minority Interests - - - (3) 3 -
----------------------------------------------------------------------------
Income (Loss) from Continuing Operations 46 1 (2) (54) 19 6
Discontinued Operations - - - 116 (42) -
Cumulative Effect of Accounting Change - - - - - -
----------------------------------------------------------------------------
Net Income (Loss) $ 46 $ 1 $ (2) $ 62 $ (23) $ 6
============================================================================
(Continued on Following Page)
CMS INT'L VENTURES LLC
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS Inter- CMS Int'l
Int'l Ventures company Ventures
LLC Elimina- LLC
Branch tions Consol.
Operating Revenue $ - $ - $190
------------------------------------
Earnings from Equity Method Investees - (3) 26
------------------------------------
Operating Expenses
Fuel for electric generation - - 21
Purchased and interchange power - - 51
Other operation expense 1 - 40
Maintenance - - 11
Depreciation and amortization 1 - 18
General taxes - - 26
Asset impairment charges - - 72
------------------------------------
Total operating expenses 2 - 239
------------------------------------
Operating Income (Loss) (2) (3) (23)
------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - - 3
Interest and dividends - - 4
Other, net - (42) 2
------------------------------------
Total other income (deductions) - (42) 9
------------------------------------
Fixed Charges
Interest on long-term debt - - 2
Other interest - - 2
Capitalized interest - - -
------------------------------------
Net fixed charges - - 4
------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests (2) (45) (18)
Income Tax Expense (Benefit) - - 13
Minority Interests - (3) (3)
------------------------------------
Income (Loss) from Continuing Operations (2) (42) (28)
Discontinued Operations - - 74
Cumulative Effect of Accounting Change - - -
------------------------------------
Net Income (Loss) $ (2) $ (42) $ 46
====================================
(11) Represents CMS International Ventures LLC and CMS Generation SRL
consolidated with CMS Operating SRL, CMSG Investment Company III, CMS Electric &
Gas LLC and Western Australia GT Company I included on the equity method of
accounting.
CMS OPERATING SRL
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
Inter-
CMS Centrales CMS Company CMS
Operating Termicas Ensenada Elimina- Operating
SRL (12) Mendoza SA SA tions SRL Consol
Operating Revenue $ 1 $38 $24 $ (1) $62
------------------------------------------------------------
Earnings from Equity Method Investees 1 - - - 1
------------------------------------------------------------
Operating Expenses
Fuel for electric generation - 12 10 (1) 21
Purchased and interchange power - 10 3 - 13
Other operation expense 1 3 3 - 7
Maintenance - 4 2 - 6
Depreciation and amortization 1 4 2 - 7
General taxes - - - - -
Asset impairment charges - - - - -
------------------------------------------------------------
Total operating expenses 2 33 20 (1) 54
------------------------------------------------------------
Operating Income (Loss) - 5 4 - 9
------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 3 - - - 3
Interest and dividends - - - - -
Other, net (2) (3) 6 (6) (5)
------------------------------------------------------------
Total other income (deductions) 1 (3) 6 (6) (2)
------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - 2 - 2
Other interest - - - - -
Capitalized interest - - - - -
------------------------------------------------------------
Net fixed charges - - 2 - 2
------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 1 2 8 (6) 5
Income Tax Expense (Benefit) - 1 3 - 4
Minority Interests - - - - -
------------------------------------------------------------
Income (Loss) from Continuing Operations 1 1 5 (6) 1
Discontinued Operations - - - - -
Cumulative Effect of Accounting Change - - - - -
------------------------------------------------------------
Net Income (Loss) $ 1 $ 1 $ 5 $ (6) $ 1
============================================================
(12) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated.
CMSG INVESTMENT COMPANY III
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
CMSG CMSG Jegurupadu Inter- CMSG
Investment Jegurupadu CMSG CMSG Company Investment
Company O&M Co. Company Neyveli Elimina- Co. III
III (13) Mauritius Limited Limited tions Consol.
Operating Revenue $ - $ - $ - $ - $ - $ -
---------------------------------------------------------------------------
Earnings from Equity Method Investees - 1 (3) 1 - (1)
---------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation - - - - - -
Purchased and interchange power - - - - - -
Other operation expense - - - - - -
Maintenance - - - - - -
Depreciation and amortization - 1 - - - 1
General taxes - - - - - -
Asset impairment charges - - - - - -
---------------------------------------------------------------------------
Total operating expenses - 1 - - - 1
---------------------------------------------------------------------------
Operating Income (Loss) - - (3) 1 - (2)
---------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - - - - - -
Interest and dividends - - - - - -
Other, net (2) - - - 2 -
---------------------------------------------------------------------------
Total other income (deductions) (2) - - - 2 -
---------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - - -
Other interest - - - - - -
Capitalized interest - - - - - -
---------------------------------------------------------------------------
Net fixed charges - - - - - -
---------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests (2) - (3) 1 2 (2)
Income Tax Expense (Benefit) - - - - - -
Minority Interests - - - - - -
---------------------------------------------------------------------------
Income (Loss) from Continuing Operations (2) - (3) 1 2 (2)
Discontinued Operations - - - - - -
Cumulative Effect of Accounting Change - - - - - -
---------------------------------------------------------------------------
Net Income (Loss) $ (2) $ - $ (3) $ 1 $ 2 $ (2)
===========================================================================
(13) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG
Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated.
CMS ELECTRIC & GAS LLC
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
CMS Sistema Companhia Inter- CMS
Electric Electrico del CMS CMS CMS Paulista Company Electric&
& Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC
LLC (14) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol.
Operating Revenue $ (1) $ 44 $ - $ - $ - $ 82 $ - $125
----------------------------------------------------------------------------------------
Earnings from Equity Method Investees - - - - - - - -
----------------------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation - - - - - - - -
Purchased and interchange power - 16 - - - 22 - 38
Other operation expense - 10 - - 1 18 - 29
Maintenance - 4 - - - 1 - 5
Depreciation and amortization - 6 - - - 3 - 9
General taxes - 3 - - - 23 - 26
Asset impairment charges 2 61 35 8 1 - (35) 72
----------------------------------------------------------------------------------------
Total operating expenses 2 100 35 8 2 67 (35) 179
----------------------------------------------------------------------------------------
Operating Income (Loss) (3) (56) (35) (8) (2) 15 35 (54)
----------------------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates - - - - - - - -
Interest and dividends 1 - - - - 3 - 4
Other, net 47 (1) - - - - (47) (1)
----------------------------------------------------------------------------------------
Total other income (deductions) 48 (1) - - - 3 (47) 3
----------------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - - - - -
Other interest - - - - - 2 - 2
Capitalized interest - - - - - - - -
----------------------------------------------------------------------------------------
Net fixed charges - - - - - 2 - 2
----------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 45 (57) (35) (8) (2) 16 (12) (53)
Income Tax Expense (Benefit) (1) - - - - 5 - 4
Minority Interests - (40) - - - 1 36 (3)
----------------------------------------------------------------------------------------
Income (Loss) from Continuing Operations 46 (17) (35) (8) (2) 10 (48) (54)
Discontinued Operations 16 - - 100 - - - 116
Cumulative Effect of Accounting Change - - - - - - - -
----------------------------------------------------------------------------------------
Net Income (Loss) $ 62 $ (17) $ (35) $ 92 $ (2) $ 10 $ (48) $ 62
========================================================================================
(14) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de
Energia Ltda. consolidated.
WESTERN AUSTRALIA GT CO I
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
Western CMS CMS Compania de
Australia CMS Goldfields International Inversiones
GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy
I (15) SARL BV PTY LTD Svcs. Co. Chile Ltda
Operating Revenue $ 2 $ - $ - $ - $ - $ -
-------------------------------------------------------------------------
Earnings from Equity Method Investees - - - 14 - 9
-------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation - - - - - -
Purchased and interchange power - - - - - -
Other operation expense - - - - - -
Maintenance - - - - - -
Depreciation and amortization - - - - - -
General taxes - - - - - -
Asset impairment charges - - - - - -
-------------------------------------------------------------------------
Total operating expenses - - - - - -
-------------------------------------------------------------------------
Operating Income (Loss) 2 - - 14 - 9
-------------------------------------------------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 1 - - - 6 -
Interest and dividends - - - - - -
Other, net (23) 7 14 1 - -
-------------------------------------------------------------------------
Total other income (deductions) (22) 7 14 1 6 -
-------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - - -
Other interest 2 1 5 - - -
Capitalized interest - - - - - -
-------------------------------------------------------------------------
Net fixed charges 2 1 5 - - -
-------------------------------------------------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests (22) 6 9 15 6 9
Income Tax Expense (Benefit) 1 - 2 - - 1
Minority Interests - - - - - -
-------------------------------------------------------------------------
Income (Loss) from Continuing Operations (23) 6 7 15 6 8
Discontinued Operations - - - - - -
Cumulative Effect of Accounting Change - - - - - -
-------------------------------------------------------------------------
Net Income (Loss) $ (23) $ 6 $ 7 $ 15 $ 6 $ 8
=========================================================================
(Continued on Following Page)
WESTERN AUSTRALIA GT CO I
Consolidating Statement of Income
For the Year Ended December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- Western
CMS GT company Australia
of Elimina- GT Co. I
Australia tions Consol.
Operating Revenue $ 1 $ - $ 3
----------------------------------
Earnings from Equity Method Investees - - 23
----------------------------------
Operating Expenses
Fuel for electric generation - - -
Purchased and interchange power - - -
Other operation expense - - -
Maintenance - - -
Depreciation and amortization - - -
General taxes - - -
Asset impairment charges - - -
----------------------------------
Total operating expenses - - -
----------------------------------
Operating Income (Loss) 1 - 26
----------------------------------
Other Income (Deductions)
Dividends and interest from affiliates 1 (8) -
Interest and dividends - - -
Other, net - 2 1
----------------------------------
Total other income (deductions) 1 (6) 1
----------------------------------
Fixed Charges
Interest on long-term debt - - -
Other interest - (8) -
Capitalized interest - - -
----------------------------------
Net fixed charges - (8) -
----------------------------------
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interests 2 2 27
Income Tax Expense (Benefit) 1 - 5
Minority Interests - 3 3
----------------------------------
Income (Loss) from Continuing Operations 1 (1) 19
Discontinued Operations (42) - (42)
Cumulative Effect of Accounting Change - - -
----------------------------------
Net Income (Loss) $ (41) $ (1) $ (23)
==================================
(15) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS
GT of Australia Holdings Company consolidated.
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
Consumers CMS Inter- CMS
Energy Enterprises company Energy
CMS Energy Company Company Elimina- Corporation
Corp. (1) Consol. Consol. tions Consol.
Plant and Property (At Cost)
Electric $ - $ 7,600 $ - $ - $ 7,600
Gas - 2,875 - - 2,875
Enterprises - - 895 - 895
Other 17 15 - - 32
------------------------------------------------------------
17 10,490 895 - 11,402
Less accumulated depreciation
and amortization 6 4,417 423 - 4,846
------------------------------------------------------------
11 6,073 472 - 6,556
Construction work-in-progress - 375 13 - 388
------------------------------------------------------------
11 6,448 485 - 6,944
------------------------------------------------------------
Investments
Associated companies 4,872 20 - (4,892) -
Enterprises - - 724 - 724
First Midland Limited Partnership - 224 - - 224
Midland Cogeneration Venture - 419 - - 419
Other 5 18 - - 23
------------------------------------------------------------
4,877 681 724 (4,892) 1,390
------------------------------------------------------------
Current Assets
Cash and temporary cash investments - 46 486 - 532
Restricted cash - 18 183 - 201
Accounts/notes receivable (1) 257 147 - 403
Accounts/notes receivable-related parties 242 4 370 (543) 73
Inventories to average cost
Gas in underground storage - 739 2 - 741
Materials and supplies - 70 40 - 110
Generating plant fuel stock - 41 - - 41
Assets held for sale 7 - 17 - 24
Price risk management assets - - 102 - 102
Prepayments and other 3 242 22 - 267
------------------------------------------------------------
251 1,417 1,369 (543) 2,494
------------------------------------------------------------
Non-current Assets
Regulatory Assets
Securitization costs - 648 - - 648
Postretirement benefits - 162 - - 162
Abandoned Midland project - 10 - - 10
Other - 266 - - 266
Assets held for sale - - 2 - 2
Price risk management assets - - 177 - 177
Nuclear decommissioning trust funds - 575 - - 575
Prepaid pension costs - 364 24 - 388
Goodwill - - 25 - 25
Notes receivable-related parties 109 - 531 (398) 242
Notes receivable - - 125 - 125
Other 99 174 154 (37) 390
------------------------------------------------------------
208 2,199 1,038 (435) 3,010
------------------------------------------------------------
Total Assets $ 5,347 $ 10,745 $ 3,616 $ (5,870) $ 13,838
============================================================
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
Consumers CMS Inter- CMS
Energy Enterprises company Energy
CMS Energy Company Company Elimina- Corporation
Corp. (1) Consol. Consol. tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ 2 $ 841 $ - $ (841) $ 2
Other paid-in-capital 3,887 682 5,721 (6,444) 3,846
Other comprehensive income (loss) (419) 17 (439) 422 (419)
Retained earnings (deficit) (1,844) 521 (2,495) 1,974 (1,844)
------------------------------------------------------------
1,626 2,061 2,787 (4,889) 1,585
Preferred stock of subsidiary - 44 - - 44
Preferred stock 250 - 11 - 261
Long-term debt 2,277 3,583 160 - 6,020
Long-term debt-related parties 474 506 102 (398) 684
Non-current capital leases - 58 - - 58
------------------------------------------------------------
4,627 6,252 3,060 (5,287) 8,652
------------------------------------------------------------
Minority Interests - - 73 - 73
------------------------------------------------------------
Current Liabilities
Current portion of long-term debt 451 28 30 - 509
Current capital leases - 10 - - 10
Notes payable 255 200 1 (456) -
Accounts payable 8 200 109 - 317
Accounts payable-related parties 18 75 36 (89) 40
Accrued interest 69 58 6 (3) 130
Accrued taxes (48) 209 28 96 285
Liabilities held for sale - - 2 - 2
Price risk management liabilities - - 89 - 89
Current portion of purchase power contracts - 27 - - 27
Current portion of gas supply contract
obligations - - 29 - 29
Deferred income taxes - 33 (6) - 27
Other 11 127 47 - 185
------------------------------------------------------------
764 967 371 (452) 1,650
------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 31 190 44 - 265
Deferred income taxes (75) 1,233 (419) (124) 615
Deferred investment tax credit - 85 - - 85
Regulatory liabilities for income taxes, net - 312 - - 312
Regulatory liabilities for cost of removal - 983 - - 983
Other regulatory liabilities - 172 - - 172
Asset retirement obligation - 358 1 - 359
Liabilities held for sale - - - - -
Price risk management liabilities - - 175 - 175
Gas supply contract obligations - - 208 - 208
Other - 193 103 (7) 289
------------------------------------------------------------
(44) 3,526 112 (131) 3,463
------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 5,347 $ 10,745 $ 3,616 $ (5,870) $ 13,838
============================================================
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
Consumers Consumers Consumers CMS
Consumers Receivables Consumers Campus Nuclear ES Midland
Energy Funding II Funding Holdings Services Services Holdings
Company (2) LLC LLC LLC LLC Company Company
Plant and Property (At Cost)
Electric $ 7,600 $ - $ - $ - $ - $ - $ -
Gas 2,875 - - - - - -
Other 15 - - - - - -
------------------------------------------------------------------------------------
10,490 - - - - - -
Less accumulated depreciation,
depletion and amortization 4,417 - - - - - -
------------------------------------------------------------------------------------
6,073 - - - - - -
Construction work-in-progress 375 - - - - - -
------------------------------------------------------------------------------------
6,448 - - - - - -
------------------------------------------------------------------------------------
Investments
Associated companies 672 - - - - - -
First Midland Limited Partnership - - - - - - 224
Midland Cogeneration Venture - - - - - - -
Other 16 - - - 2 - -
------------------------------------------------------------------------------------
688 - - - 2 - 224
------------------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments 44 - - - - 1 -
Restricted cash 1 - 17 - - - -
Accounts/notes receivable 37 220 - - - - -
Accounts/notes receivable-related parties 5 - 27 7 - - -
Inventories to average cost
Gas in underground storage 739 - - - - - -
Materials and supplies 70 - - - - - -
Generating plant fuel stock 41 - - - - - -
Deferred property taxes 143 - - - - - -
Regulatory assets-postretirement benefits 19 - - - - - -
Prepayments and other 80 - - - - - -
------------------------------------------------------------------------------------
1,179 220 44 7 - 1 -
------------------------------------------------------------------------------------
Non-current Assets
Regulatory Assets
Securitization costs 648 - - - - - -
Postretirement benefits 162 - - - - - -
Abandoned Midland project 10 - - - - - -
Other 266 - - - - - -
Nuclear decommissioning trust funds 575 - - - - - -
Prepaid pension costs 364 - - - - - -
Notes receivable-related parties - - 389 - - - -
Other 174 - - - - - -
------------------------------------------------------------------------------------
2,199 - 389 - - - -
------------------------------------------------------------------------------------
Total Assets $ 10,514 $ 220 $ 433 $ 7 $ 2 $ 1 $ 224
====================================================================================
(Continued on Next Page)
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- Consumers
CMS Company Energy
Midland Elimina- Company
Inc. tions Consol.
Plant and Property (At Cost)
Electric $ - $ - $ 7,600
Gas - - 2,875
Other - - 15
--------------------------------
- - 10,490
Less accumulated depreciation,
depletion and amortization - - 4,417
--------------------------------
- - 6,073
Construction work-in-progress - - 375
--------------------------------
- - 6,448
--------------------------------
Investments
Associated companies - (652) 20
First Midland Limited Partnership - - 224
Midland Cogeneration Venture 419 - 419
Other - - 18
--------------------------------
419 (652) 681
--------------------------------
Current Assets
Cash and temporary cash investments 1 - 46
Restricted cash - - 18
Accounts/notes receivable - - 257
Accounts/notes receivable-related parties 10 (45) 4
Inventories to average cost
Gas in underground storage - - 739
Materials and supplies - - 70
Generating plant fuel stock - - 41
Deferred property taxes - - 143
Regulatory assets-postretirement benefits - - 19
Prepayments and other - - 80
--------------------------------
11 (45) 1,417
--------------------------------
Non-current Assets
Regulatory Assets
Securitization costs - - 648
Postretirement benefits - - 162
Abandoned Midland project - - 10
Other - - 266
Nuclear decommissioning trust funds - - 575
Prepaid pension costs - - 364
Notes receivable-related parties - (389) -
Other - - 174
--------------------------------
- (389) 2,199
--------------------------------
Total Assets $ 430 $ (1,086) $ 10,745
================================
(2) Represents Consumers Energy Company, CMS Engineering Company and MEC
Development Corp. consolidated with Consumers Receivables Funding II LLC,
Consumers Funding LLC, Consumers Campus Holdings LLC, Consumers Nuclear Services
LLC, ES Services Company, CMS Midland Holdings Company and CMS Midland, Inc.
included on the equity method of accounting.
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
Consumers Consumers Consumers CMS
Consumers Receivables Consumers Campus Nuclear ES Midland
Energy Funding II Funding Holdings Services Services Holdings
Company (2) LLC LLC LLC LLC Company Company
Capitalization
Common Stockholders' Equity
Common stock $ 841 $ - $ - $ - $ - $ - $ -
Other paid-in-capital 682 220 3 - 2 1 31
Other comprehensive income 17 - - - - - -
Retained earnings 521 - - - - - 33
---------------------------------------------------------------------------
2,061 220 3 - 2 1 64
Preferred stock 44 - - - - - -
Long-term debt 3,185 - 398 - - - -
Long-term debt-related parties 895 - - - - - -
Non-current capital leases 58 - - 6 - - -
---------------------------------------------------------------------------
6,243 220 401 6 2 1 64
---------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - 28 - - - -
Current capital leases 10 - - 1 - - -
Notes payable-related parties 237 - - - - - -
Accounts payable 200 - - - - - -
Accounts payable-related parties 76 - - - - - -
Accrued interest 54 - 4 - - - -
Accrued taxes 201 - - - - - 1
Current portion of purchase power contracts 27 - - - - - -
Deferred income taxes 25 - - - - - 8
Other 127 - - - - - -
---------------------------------------------------------------------------
957 - 32 1 - - 9
---------------------------------------------------------------------------
Non-current Liabilities
Deferred income taxes 1,033 - - - - - 140
Regulatory liabilities for cost of removal 983 - - - - - -
Postretirement benefits 190 - - - - - -
Regulatory liabilities for income taxes, net 312 - - - - - -
Asset retirement obligations 358 - - - - - -
Other regulatory liabilities 172 - - - - - -
Deferred investment tax credit 73 - - - - - 11
Other 193 - - - - - -
---------------------------------------------------------------------------
3,314 - - - - - 151
---------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 10,514 $ 220 $ 433 $ 7 $ 2 $ 1 $ 224
===========================================================================
(Continued on the Next Page)
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- Consumers
CMS Company Energy
Midland Elimina- Company
Inc. tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ 841
Other paid-in-capital 163 (420) 682
Other comprehensive income 10 (10) 17
Retained earnings 189 (222) 521
--------------------------
362 (652) 2,061
Preferred stock - - 44
Long-term debt - - 3,583
Long-term debt-related parties - (389) 506
Non-current capital leases - (6) 58
--------------------------
362 (1,047) 6,252
--------------------------
Current Liabilities
Current portion of long-term debt - - 28
Current capital leases - (1) 10
Notes payable-related parties - (37) 200
Accounts payable - - 200
Accounts payable-related parties - (1) 75
Accrued interest - - 58
Accrued taxes 1 6 209
Current portion of purchase power contracts - - 27
Deferred income taxes - - 33
Other - - 127
--------------------------
1 (33) 967
--------------------------
Non-current Liabilities
Deferred income taxes 66 (6) 1,233
Regulatory liabilities for cost of removal - - 983
Postretirement benefits - - 190
Regulatory liabilities for income taxes, net - - 312
Asset retirement obligations - - 358
Other regulatory liabilities - - 172
Deferred investment tax credit 1 - 85
Other - - 193
--------------------------
67 (6) 3,526
--------------------------
Total Stockholders' Equity and Liabilities 430 $(1,086) $10,745
==========================
(2) Represents Consumers Energy Company, CMS Engineering Company and MEC
Development Corp. consolidated with Consumers Receivables Funding II LLC,
Consumers Funding LLC, Consumers Campus Holdings LLC, Consumers Nuclear Services
LLC, ES Services Company, CMS Midland Holdings Company and CMS Midland, Inc.
included on the equity method of accounting.
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMS CMS Gas CMS CMS CMS
CMS Generation Transmission Energy Int'l CMS Technology
Enterprises Co. Company Resource Mgt. Vent. LLC Capital Companies
Company (3) Consol. Consol. Company Consol. LLC (4)
Plant and Property (At Cost)
Enterprises $ 22 $ 400 $ 118 $ 5 $ 350 $ 1 $ -
Other - - - - - - -
----------------------------------------------------------------------------------
22 400 118 5 350 1 -
Less accumulated depreciation,
depletion and amortization 2 141 43 2 235 - -
----------------------------------------------------------------------------------
20 259 75 3 115 1 -
Construction work-in-progress - - - - 13 - -
----------------------------------------------------------------------------------
20 259 75 3 128 1 -
----------------------------------------------------------------------------------
Investments
Associated companies 2,430 144 250 - - - -
Enterprises 2 358 - - 364 - -
Other - - - - - - -
----------------------------------------------------------------------------------
2,432 502 250 - 364 - -
----------------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - 28 2 2 44 410 -
Restricted cash 165 18 - - - - -
Accounts/notes receivable 1 29 4 36 48 28 -
Accounts/notes receivable-related parties 416 104 50 57 28 286 22
Gas in underground storage - - 2 - - - -
Materials and supplies - 27 1 - 12 - -
Assets held for sale - - 4 - 13 - -
Price risk management assets 7 - - 95 - - -
Deferred income taxes (3) - - - - - (1)
Prepayments and other - 11 1 1 18 1 -
----------------------------------------------------------------------------------
586 217 64 191 163 725 21
----------------------------------------------------------------------------------
Non-current Assets
Assets held for sale - - - - 2 - -
Price risk management assets 8 - - 169 - - -
Prepaid pension costs 11 10 (7) 4 - 2 -
Goodwill - 1 - - 24 - -
Notes receivable-related parties 116 52 22 275 86 102 -
Notes receivable - 107 18 - - - -
Deferred income taxes 77 115 172 46 1 - 3
Other 7 64 8 2 73 - -
----------------------------------------------------------------------------------
219 349 213 496 186 104 3
----------------------------------------------------------------------------------
Total Assets $ 3,257 $ 1,327 $ 602 $ 690 $ 841 $ 830 $ 24
==================================================================================
(Continued on Following Page)
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS CMS CMS Inter- CMS
Resource Energy Business CMS company Enterprises
Development UK Development Texas Elimina- Company
Company Limited LLC LLC tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ (1) $ 895
Other - - - - - -
--------------------------------------------------------------
- - - - (1) 895
Less accumulated depreciation,
depletion and amortization - - - - - 423
--------------------------------------------------------------
- - - - (1) 472
Construction work-in-progress - - - - - 13
--------------------------------------------------------------
- - - - (1) 485
--------------------------------------------------------------
Investment
Associated companies - - - - (2,824) -
Enterprises - - - - - 724
Other - - - - - -
--------------------------------------------------------------
- - - - (2,824) 724
--------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - - 486
Restricted cash - - - - - 183
Accounts/notes receivable - 1 - - - 147
Accounts/notes receivable-related parties 6 - 3 1 (603) 370
Gas in underground storage - - - - - 2
Materials and supplies - - - - - 40
Assets held for sale - - - - - 17
Price risk management assets - - - - - 102
Deferred income taxes - - - - 10 6
Prepayments and other - - - - (10) 22
--------------------------------------------------------------
6 1 3 1 (603) 1,375
--------------------------------------------------------------
Non-current Assets
Assets held for sale - - - - - 2
Price risk management assets - - - - - 177
Prepaid pension costs 3 - - 1 - 24
Goodwill - - - - - 25
Notes receivable-related parties - - - - (122) 531
Notes receivable - - - - - 125
Deferred income taxes - - - - 5 419
Other - - - - - 154
--------------------------------------------------------------
3 - - 1 (117) 1,457
--------------------------------------------------------------
Total Assets $ 9 $ 1 $ 3 $ 2 $(3,545) $ 4,041
==============================================================
(3) Represents CMS Enterprises Company, CMS Land Company, CMS Comercializadora
de Energia SA, CMS Enterprises Holding Company SA, CMS Energy South America
Company and CMS Energy Asia Private Limited consolidated with CMS Generation
Co., CMS Gas Transmission Company, CMS Energy Resource Management Company, CMS
International Ventures LLC, CMS Capital LLC, CMS Resource Development Company,
CMS Energy UK Limited, CMS Business Development LLC and CMS Texas LLC included
on the equity method of accounting.
(4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS
Enterprises Development LLC.
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMS CMS Gas CMS CMS CMS
CMS Generation Transmission Energy Int'l CMS Technology
Enterprises Co. Company Resource Mgt. Vent. LLC Capital Companies
Company (3) Consol. Consol. Company Consol. LLC (4)
Capitalization
Common Stockholders' Equity
Common stock $ 1 $ - $ - $ - $ - $ - $ -
Other paid-in-capital 5,824 2,309 1,333 277 945 381 61
Other comprehensive income (loss) (439) (84) (251) - (270) - -
Retained earnings (deficit) (2,522) (1,092) (672) (164) 2 15 (36)
---------------------------------------------------------------------------------
2,864 1,133 410 113 677 396 25
Preferred stock - - 11 - - - -
Long-term debt - 113 2 1 37 7 -
Long-term debt-related parties 102 2 - - 18 102 -
Non-current capital leases - - - - - - -
---------------------------------------------------------------------------------
2,966 1,248 423 114 732 505 25
---------------------------------------------------------------------------------
Minority Interests - 48 3 - 13 - -
---------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - 14 - - 9 7 -
Current capital leases - - - - - - -
Notes payable 247 (15) 2 13 8 297 -
Accounts payable 34 19 3 21 28 4 -
Accounts payable-related parties 23 28 5 13 - 8 1
Accrued interest 2 3 - - 1 2 -
Accrued taxes (26) (80) 117 (13) 21 7 (2)
Liabilities held for sale - - - - 2 - -
Price risk management liabilities - - - 90 - - -
Current portion of gas supply -
contract obligation - - - 29 - - -
Other 1 24 14 1 5 - -
---------------------------------------------------------------------------------
281 (7) 141 154 74 325 (1)
---------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 10 5 17 4 4 - -
Asset retirement obligation - - 1 - - - -
Price risk management liabilities - - - 175 - - -
Gas supply contract obligations - - - 208 - - -
Other - 33 17 35 18 - -
---------------------------------------------------------------------------------
10 38 35 422 22 - -
---------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 3,257 $ 1,327 $ 602 $ 690 $ 841 $ 830 $ 24
=================================================================================
(Continued on Following Page)
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS CMS CMS Inter- CMS
Resource Energy Business CMS company Enterprises
Development UK Development Texas Elimina- Company
Company Limited LLC LLC tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ (1) $ -
Other paid-in-capital 4 2 - - (5,415) 5,721
Other comprehensive income (loss) - (1) - - 606 (439)
Retained earnings (deficit) (1) - 1 (3) 1,977 (2,495)
------------------------------------------------------------
3 1 1 (3) (2,833) 2,787
Preferred stock - - - - - 11
Long-term debt - - - - - 160
Long-term debt-related parties - - - - (122) 102
Non-current capital leases - - - - - -
------------------------------------------------------------
-
3 1 1 (3) (2,955) 3,060
------------------------------------------------------------
Minority Interests - - - - 9 73
------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - 30
Current capital leases - - - - - -
Notes payable 1 - - 3 (555) 1
Accounts payable - - - - - 109
Accounts payable-related parties 2 - 1 1 (46) 36
Accrued interest - - - - (2) 6
Accrued taxes - - - (1) 5 28
Liabilities held for sale - - - - - 2
Price risk management liabilities - - - - (1) 89
Current portion of gas supply
contract obligations - - - - - 29
Other 2 - - - - 47
------------------------------------------------------------
5 - 1 3 (599) 377
------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 1 - 1 2 - 44
Asset retirement obligation - - - - - 1
Price risk management liabilities - - - - - 175
Gas supply contract obligations - - - - - 208
Other - - - - - 103
------------------------------------------------------------
1 - 1 2 - 531
------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 9 $ 1 $ 3 $ 2 $ (3,545) $ 4,041
============================================================
(3) Represents CMS Enterprises Company, CMS Land Company, CMS Comercializadora
de Energia SA, CMS Enterprises Holding Company SA, CMS Energy South America
Company and CMS Energy Asia Private Limited consolidated with CMS Generation
Co., CMS Gas Transmission Company, CMS Energy Resource Management Company, CMS
International Ventures LLC, CMS Capital LLC, CMS Resource Development Company,
CMS Energy UK Limited, CMS Business Development LLC and CMS Texas LLC included
on the equity method of accounting.
(4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS
Enterprises Development LLC.
CMS GENERATION CO.
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG TES Genesee Grayling Dearborn
CMS Filer City Filer City Power Generating CMSG Industrial
Generation Operating LP LP LP Operating Generation
Co. (5) Company Consol. Consol. Consol. Company LLC
Plant and Property (At Cost)
Enterprises $ 2 $ - $ 95 $ 78 $ 67 $ - $ 88
Less accumulated depreciation,
depletion and amortization 1 - 32 16 19 - 25
---------------------------------------------------------------------------
1 - 63 62 48 - 63
Construction work-in-progress - - - - - - -
---------------------------------------------------------------------------
1 - 63 62 48 - 63
---------------------------------------------------------------------------
Investments
Associated companies 779 - - - - - -
Enterprises 26 - - - - - -
---------------------------------------------------------------------------
805 - - - - - -
---------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - 1 13 1 - -
Restricted cash 18 - - - - - -
Accounts/notes receivable (1) - - - - - 7
Accounts/notes receivable-related parties 12 1 6 6 5 5 12
Materials and supplies - - 4 1 1 - 14
Prepayments and other - - - - 1 - 3
---------------------------------------------------------------------------
29 1 11 20 8 5 36
---------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs 1 1 - - - 4 -
Goodwill - - - - - - -
Notes receivable-related parties 9 - - - - - -
Notes receivable - - - - - - -
Deferred income taxes 128 - (4) (5) (7) (1) -
Other 49 - 4 7 4 - -
---------------------------------------------------------------------------
187 1 - 2 (3) 3 -
---------------------------------------------------------------------------
Total Assets $1,022 $ 2 $ 74 $ 84 $ 53 $ 8 $ 99
===========================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
Dearborn Taweelah CMSG CMSG CMSG CMSG
Generating Exeter A2 Michigan Int'l Investment Investment
Operating Energy Operating Power Operating Co. IV Co. VI
LLC LP Company LLC Co. Consol. Consol. Consol.
Plant and Property (At Cost)
Enterprises $ - $ 50 $ - $ 17 $ - $ - $ 3
Less accumulated depreciation,
depletion and amortization - 38 - 10 - - -
------------------------------------------------------------------------
- 12 - 7 - - 3
Construction work-in-progress - - - - - - -
------------------------------------------------------------------------
- 12 - 7 - - 3
------------------------------------------------------------------------
Investments
Associated companies - - - - - - -
Enterprises - - - - - 257 -
------------------------------------------------------------------------
- - - - - 257 -
------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - 5 - - 7 - 1
Restricted cash - - - - - - -
Accounts/notes receivable - - - - 5 - 18
Accounts/notes receivable-related parties 5 1 3 1 25 50 1
Materials and supplies - - - - - - 7
Prepayments and other - - 1 - 4 - 1
------------------------------------------------------------------------
5 6 4 1 41 50 28
------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs 2 - - - - - -
Goodwill - - - - - - -
Notes receivable-related parties - - - - 4 81 50
Notes receivable - - - - - - 107
Deferred income taxes - - - - - - (9)
Other - - 1 - - - -
------------------------------------------------------------------------
2 - 1 - 4 81 148
------------------------------------------------------------------------
Total Assets $ 7 $ 18 $ 5 $ 8 $ 45 $ 388 $ 179
========================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMSG CMSG HYDRA-CO Inter- CMS
Investment Honey Enterprises, CMSG company Generation
Co. VII Lake Inc. Investment Elimina- Co.
Consol. Company Consol. Co. I tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ 400
Less accumulated depreciation,
depletion and amortization - - - - - 141
-----------------------------------------------------------------
- - - - - 259
Construction work-in-progress - - - - - -
-----------------------------------------------------------------
- - - - - 259
-----------------------------------------------------------------
Investments
Associated companies - - - - (635) 144
Enterprises 34 - 41 - - 358
-----------------------------------------------------------------
34 - 41 - (635) 502
-----------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - - 28
Restricted cash - - - - - 18
Accounts/notes receivable - - - - - 29
Accounts/notes receivable-related parties - 1 4 - (34) 104
Materials and supplies - - - - - 27
Prepayments and other - - 1 - - 11
-----------------------------------------------------------------
- 1 5 - (34) 217
-----------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - 2 - - 10
Goodwill - - 1 - - 1
Notes receivable-related parties - - - - (92) 52
Notes receivable - - - - - 107
Deferred income taxes - 3 5 - 5 115
Other - - - - (1) 64
-----------------------------------------------------------------
- 3 8 - (88) 349
-----------------------------------------------------------------
Total Assets $ 34 $ 4 $ 54 $ - $ (757) $ 1,327
=================================================================
(5) Represents CMS Generation Company, CMSG Altoona Company, CMSG Chateaugay
Company, Exeter Management Company and CMSG Recycling Company consolidated with
CMSG Filer City, Inc., CMSG Genesee Company, CMSG Holdings Company, CMSG
Grayling Company, CMSG Grayling Holding Company, CMS International Operating
Company, CMSG Investment Company IV, CMSG Investment Company VI, CMSG Investment
Company VIl and HYDRA-CO Enterprises, Inc. included on the equity method of
accounting.
CMS GENERATION CO.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG TES Genesee Grayling Dearborn
CMS Filer City Filer City Power Generating CMSG Industrial
Generation Operating LP LP LP Operating Generation
Co. (5) Company Consol. Consol. Consol. Company LLC
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 2,353 1 6 16 11 3 562
Other comprehensive income (loss) (84) - - - - - -
Retained earnings (deficit) (1,124) - 14 (13) (8) - (543)
---------------------------------------------------------------------------
1,145 1 20 3 3 3 19
Long-term debt - - 12 65 35 - -
Long-term debt-related parties - - - - - - -
Non-current capital leases - - - - - - -
---------------------------------------------------------------------------
1,145 1 32 68 38 3 19
---------------------------------------------------------------------------
Minority Interests - - 24 4 8 - -
---------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - 9 2 3 - -
Current capital leases - - - - - - -
Notes payable (39) - - 2 - - 22
Accounts payable 8 - - 2 - - 4
Accounts payable-related parties 4 1 1 3 1 2 17
Accrued interest - - - 3 - - -
Accrued taxes (100) - - (1) - 1 -
Other 1 - 8 1 1 - 11
---------------------------------------------------------------------------
(126) 1 18 12 5 3 54
---------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 3 - - - - 2 -
Other - - - - 2 - 26
---------------------------------------------------------------------------
3 - - - 2 2 26
---------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 1,022 $ 2 $ 74 $ 84 $ 53 $ 8 $ 99
===========================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
Dearborn Taweelah CMSG CMSG CMSG CMSG
Generating Exeter A2 Michigan Int'l Investment Investment
Operating Energy Operating Power Operating Co. IV Co. VI
LLC LP Company LLC Co. Consol. Consol. Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 4 (13) 1 75 3 66 115
Other comprehensive income (loss) - - - - - (11) -
Retained earnings (deficit) 1 30 2 (68) 22 277 45
-----------------------------------------------------------------------------------
5 17 3 7 25 332 160
Long-term debt - - - - - - -
Long-term debt-related parties - - - - - 40 -
Non-current capital leases - - - - - - -
-----------------------------------------------------------------------------------
5 17 3 7 25 372 160
-----------------------------------------------------------------------------------
Minority Interests - - - - - - 12
-----------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - - -
Current capital leases - - - - - - -
Notes payable - - - - 12 14 -
Accounts payable 1 - 1 1 - - 2
Accounts payable-related parties 1 1 - - 2 - -
Accrued interest - - - - - 1 -
Accrued taxes - - - - 4 - 4
Other - - - - 1 - 1
-----------------------------------------------------------------------------------
2 1 1 1 19 15 7
-----------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - - -
Other - - 1 - 1 1 -
-----------------------------------------------------------------------------------
- - 1 - 1 1 -
-----------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 7 $ 18 $ 5 $ 8 $ 45 $ 388 $ 179
===================================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMSG CMSG HYDRA-CO
Investment Honey Enterprises, CMSG CMSG CMSG
Co. VII Lake Inc. Investment Altoona Recycling
Consol. Company Consol. Co. I Company Company
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 12 10 199 - (6) 3
Other comprehensive income (loss) (15) - - - - -
Retained earnings (deficit) (19) (6) (156) - 6 (3)
-------------------------------------------------------------------------
(22) 4 43 - - -
Long-term debt - - 1 - - -
Long-term debt-related parties 54 - - - - -
Non-current capital leases - - - - - -
-------------------------------------------------------------------------
32 4 44 - - -
-------------------------------------------------------------------------
Minority Interests - - - - - -
-------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - -
Current capital leases - - - - - -
Notes payable - - - - - -
Accounts payable - - - - - -
Accounts payable-related parties - - 1 - - -
Accrued interest - - 1 - - -
Accrued taxes - - 7 - - -
Other - - - - - -
-------------------------------------------------------------------------
- - 9 - - -
-------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - -
Other 2 - 1 - - -
-------------------------------------------------------------------------
2 - 1 - - -
-------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 34 $ 4 $ 54 $ - $ - $ -
=========================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- CMS
company Generation
Elimina- Co.
tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ -
Other paid-in-capital (1,112) 2,309
Other comprehensive income (loss) 26 (84)
Retained earnings (deficit) 451 (1,092)
--------------------
(635) 1,133
Long-term debt - 113
Long-term debt-related parties (92) 2
Non-current capital leases - -
--------------------
(727) 1,248
--------------------
Minority Interests - 48
--------------------
Current Liabilities
Current portion of long-term debt - 14
Current capital leases - -
Notes payable (26) (15)
Accounts payable - 19
Accounts payable-related parties (6) 28
Accrued interest (2) 3
Accrued taxes 5 (80)
Other - 24
--------------------
(29) (7)
--------------------
Non-current Liabilities
Postretirement benefits - 5
Other (1) 33
--------------------
(1) 38
--------------------
Total Stockholders' Equity and Liabilities $ (757) $ 1,327
====================
(5) Represents CMS Generation Company, CMSG Chateaugay Company and Exeter
Management Company consolidated with CMSG Filer City, Inc., CMSG Genesee
Company, CMSG Holdings Company, CMSG Grayling Company, CMSG Grayling Holding
Company, CMS International Operating Company, CMSG Investment Company IV, CMSG
Investment Company VI, CMSG Investment Company VII and HYDRA-CO Enterprises,
Inc. included on the equity method of accounting.
TES FILER CITY STATION LP
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
TES Inter- TES
CMSG Filer City company Filer City
Filer City Station Elimina- LP
Inc. LP tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ 95 $ - $ 95
Less accumulated depreciation,
depletion and amortization - 32 - 32
----------------------------------------------
- 63 - 63
Construction work-in-progress - - - -
----------------------------------------------
- 63 - 63
----------------------------------------------
Investments
Associated companies 24 - (24) -
Enterprises - - - -
----------------------------------------------
24 - (24) -
----------------------------------------------
Current Assets
Cash and temporary cash investments - 1 - 1
Restricted cash - - - -
Accounts/notes receivable - - - -
Accounts/notes receivable-related parties - 6 - 6
Materials and supplies - 4 - 4
Prepayments and other - - - -
----------------------------------------------
- 11 - 11
----------------------------------------------
Non-current Assets
Prepaid pension costs - - - -
Goodwill - - - -
Notes receivable-related parties - - - -
Notes receivable - - - -
Deferred income taxes (4) - - (4)
Other - 4 - 4
----------------------------------------------
(4) 4 - -
----------------------------------------------
Total Assets $ 20 $ 78 $(24) $ 74
==============================================
TES FILER CITY STATION LP
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
TES Inter- TES
CMSG Filer City company Filer City
Filer City Station Elimina- LP
Inc. LP tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ -
Other paid-in-capital 6 46 (46) 6
Other comprehensive income (loss) - - - -
Retained earnings (deficit) 14 2 (2) 14
----------------------------------------------
20 48 (48) 20
Long-term debt - 12 - 12
Long-term debt-related parties - - - -
Non-current capital leases - - - -
----------------------------------------------
20 60 (48) 32
----------------------------------------------
Minority Interests - - 24 24
----------------------------------------------
Current Liabilities
Current portion of long-term debt - 9 - 9
Current capital leases - - - -
Notes payable - - - -
Accounts payable - - - -
Accounts payable-related parties - 1 - 1
Accrued interest - - - -
Accrued taxes - - - -
Other - 8 - 8
----------------------------------------------
- 18 - 18
----------------------------------------------
Non-current Liabilities
Postretirement benefits - - - -
Other - - - -
----------------------------------------------
- - - -
----------------------------------------------
Total Stockholders' Equity and Liabilities $ 20 $ 78 $ (24) $ 74
==============================================
GENESEE POWER STATION LP
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
Genesee Inter- Genesee
CMSG CMSG Power company Power
Genesee Holdings Station Elimina- LP
Company Co. (6) LP tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ 78 $ - $ 78
Less accumulated depreciation,
depletion and amortization - - 16 - 16
----------------------------------------------------------
- - 62 - 62
Construction work-in-progress - - - - -
----------------------------------------------------------
- - 62 - 62
----------------------------------------------------------
Investments
Associated companies - 4 - (4) -
Enterprises - - - - -
----------------------------------------------------------
- 4 - (4) -
----------------------------------------------------------
Current Assets
Cash and temporary cash investments - - 13 - 13
Restricted cash - - - - -
Accounts/notes receivable - - - - -
Accounts/notes receivable-related parties 1 2 3 - 6
Materials and supplies - - 1 - 1
Prepayments and other - - - - -
----------------------------------------------------------
1 2 17 - 20
----------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - -
Goodwill - - - - -
Notes receivable-related parties - - - - -
Notes receivable - - - - -
Deferred income taxes (1) (4) - - (5)
Other - - 7 - 7
----------------------------------------------------------
(1) (4) 7 - 2
----------------------------------------------------------
Total Assets $ - $ 2 $ 86 $ (4) $ 84
==========================================================
(6) Includes GPS Newco LLC.
GENESEE POWER STATION LP
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
Genesee Inter- Genesee
CMSG CMSG Power company Power
Genesee Holdings Station Elimina- LP
Company Co. (6) LP tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ -
Other paid-in-capital - 16 8 (8) 16
Other comprehensive income (loss) - - - - -
Retained earnings (deficit) - (13) - - (13)
----------------------------------------------------------
- 3 8 (8) 3
Long-term debt - - 65 - 65
Long-term debt-related parties - - - - -
Non-current capital leases - - - - -
----------------------------------------------------------
- 3 73 (8) 68
----------------------------------------------------------
Minority Interests - - - 4 4
----------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - 2 - 2
Current capital leases - - - - -
Notes payable - - 2 - 2
Accounts payable - - 2 - 2
Accounts payable-related parties - - 3 - 3
Accrued interest - - 3 - 3
Accrued taxes - (1) - - (1)
Other - - 1 - 1
----------------------------------------------------------
- (1) 13 - 12
----------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - -
Other - - - - -
----------------------------------------------------------
- - - - -
----------------------------------------------------------
Total Stockholders' Equity and Liabilities $ - $ 2 $ 86 $ (4) $ 84
==========================================================
(6) Includes GPS Newco LLC.
GRAYLING GENERATING STATION LP
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG Grayling Inter- Grayling
CMSG Grayling Generating company Generating
Grayling Holdings Station Elimina- LP
Company Company LP tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ 67 $ - $ 67
Less accumulated depreciation,
depletion and amortization - - 19 - 19
---------------------------------------------------------
- - 48 - 48
Construction work-in-progress - - - - -
---------------------------------------------------------
- - 48 - 48
---------------------------------------------------------
Investments
Associated companies - 9 - (9) -
Enterprises - (1) 3 (2) -
---------------------------------------------------------
- 8 3 (11) -
---------------------------------------------------------
Current Assets
Cash and temporary cash investments - - 1 - 1
Restricted cash - - - - -
Accounts/notes receivable - - - - -
Accounts/notes receivable-related parties - 2 3 - 5
Materials and supplies - - 1 - 1
Prepayments and other - - 1 - 1
---------------------------------------------------------
- 2 6 - 8
---------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - -
Goodwill - - - - -
Notes receivable-related parties - - - - -
Notes receivable - - - - -
Deferred income taxes - (7) - - (7)
Other - - 4 - 4
---------------------------------------------------------
- (7) 4 - (3)
---------------------------------------------------------
Total Assets $ - $ 3 $ 61 $ (11) $ 53
=========================================================
GRAYLING GENERATING STATION LP
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG Grayling Inter- Grayling
CMSG Grayling Generating company Generating
Grayling Holdings Station Elimina- LP
Company Company LP tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ -
Other paid-in-capital 4 7 18 (18) 11
Other comprehensive income (loss) - - - - -
Retained earnings (deficit) (4) (4) 1 (1) (8)
---------------------------------------------------------
- 3 19 (19) 3
Long-term debt - - 35 - 35
Long-term debt-related parties - - - - -
Non-current capital leases - - - - -
---------------------------------------------------------
- 3 54 (19) 38
---------------------------------------------------------
Minority Interests - - - 8 8
---------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - 3 - 3
Current capital leases - - - - -
Notes payable - - - - -
Accounts payable - - - - -
Accounts payable-related parties - - 1 - 1
Accrued interest - - - - -
Accrued taxes - - - - -
Other - - 1 - 1
---------------------------------------------------------
- - 5 - 5
---------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - -
Other - - 2 - 2
---------------------------------------------------------
- - 2 - 2
---------------------------------------------------------
Total Stockholders' Equity and Liabilities $ - $ 3 $ 61 $ (11) $ 53
=========================================================
CMS INT'L OPERATING COMPANY
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMS CMS CMS CMS Inter- CMS
Int'l UK Jorf Morocco India O&M company Int'l
Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating
Co. (7) Limited Aktiebolag SCA Limited tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - - - -
-------------------------------------------------------------------------------
- - - - - - -
Construction work-in-progress - - - - - - -
-------------------------------------------------------------------------------
- - - - - - -
-------------------------------------------------------------------------------
Investments
Associated companies 11 8 4 - - (23) -
Enterprises - - - - - - -
-------------------------------------------------------------------------------
11 8 4 - - (23) -
-------------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments 5 - - 1 1 - 7
Restricted cash - - - - - - -
Accounts/notes receivable - - - 5 - - 5
Accounts/notes receivable-related parties 13 4 8 - - - 25
Materials and supplies - - - - - - -
Prepayments and other - - - 3 1 - 4
-------------------------------------------------------------------------------
18 4 8 9 2 - 41
-------------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - - - -
Goodwill - - - - - - -
Notes receivable-related parties 4 - - - - - 4
Notes receivable - - - - - - -
Deferred income taxes - - - - - - -
Other - - - - - - -
-------------------------------------------------------------------------------
4 - - - - - 4
-------------------------------------------------------------------------------
Total Assets $ 33 $ 12 $ 12 $ 9 $ 2 $(23) $ 45
===============================================================================
(7) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC
consolidated.
CMS INT'L OPERATING COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMS CMS CMS CMS Inter- CMS
Int'l UK Jorf Morocco India O&M company Int'l
Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating
Co. (7) Limited Aktiebolag SCA Limited tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 3 9 10 - - (19) 3
Other comprehensive income (loss) - - - - - - -
Retained earnings (deficit) 21 (1) 2 4 - (4) 22
-------------------------------------------------------------------------------
24 8 12 4 - (23) 25
Long-term debt - - - - - - -
Long-term debt-related parties - - - - - - -
Non-current capital leases - - - - - - -
-------------------------------------------------------------------------------
24 8 12 4 - (23) 25
-------------------------------------------------------------------------------
Minority Interests - - - - - - -
-------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - - -
Current capital leases - - - - - - -
Notes payable 8 4 - - - - 12
Accounts payable - - - - - - -
Accounts payable-related parties 1 - - 1 - - 2
Accrued interest - - - - - - -
Accrued taxes - - - 3 1 - 4
Other - - - 1 - - 1
-------------------------------------------------------------------------------
9 4 - 5 1 - 19
-------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - - -
Other - - - - 1 - 1
-------------------------------------------------------------------------------
- - - - 1 - 1
-------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 33 $ 12 $ 12 $ 9 $ 2 $(23) $ 45
===============================================================================
(7) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC
consolidated.
CMSG INVESTMENT COMPANY IV
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG CMSG CMSG Inter- CMSG
Investment Luxembourg Investment company Investment
Company II SARL Co. II Elimina- Co. IV
IV (8) Consol. Consol. tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - -
-----------------------------------------------------------
- - - - -
Construction work-in-progress - - - - -
-----------------------------------------------------------
- - - - -
-----------------------------------------------------------
Investments
Associated companies 59 - - (59) -
Enterprises 1 246 10 - 257
-----------------------------------------------------------
60 246 10 (59) 257
-----------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - -
Restricted cash - - - - -
Accounts/notes receivable - - - - -
Accounts/notes receivable-related parties 246 80 35 (311) 50
Materials and supplies - - - - -
Prepayments and other - - - - -
-----------------------------------------------------------
246 80 35 (311) 50
-----------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - -
Goodwill - - - - -
Notes receivable-related parties 81 - - - 81
Notes receivable - - - - -
Deferred income taxes - - - - -
Other - - - - -
-----------------------------------------------------------
81 - - - 81
-----------------------------------------------------------
Total Assets $ 387 $ 326 $ 45 $ (370) $ 388
===========================================================
(8) Represents CMSG Investment Company IV consolidated with CMSG Luxembourg II
SARL and CMSG Investment Company II included on the equity method of
accounting.
CMSG INVESTMENT COMPANY IV
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG CMSG CMSG Inter- CMSG
Investment Luxembourg Investment company Investment
Company II SARL Co. II Elimina- Co. IV
IV (8) Consol. Consol. tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ -
Other paid-in-capital 66 - 2 (2) 66
Other comprehensive income (loss) (11) (11) - 11 (11)
Retained earnings (deficit) 277 67 1 (68) 277
------------------------------------------------------------
332 56 3 (59) 332
Long-term debt 40 - - - 40
Long-term debt-related parties - - - - -
Non-current capital leases - - - - -
------------------------------------------------------------
372 56 3 (59) 372
------------------------------------------------------------
Minority Interests - - - - -
------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - -
Current capital leases - - - - -
Notes payable 14 260 42 (302) 14
Accounts payable - - - - -
Accounts payable-related parties - - - - -
Accrued interest 1 9 - (9) 1
Accrued taxes - - - - -
Other - - - - -
------------------------------------------------------------
15 269 42 (311) 15
------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - -
Other - 1 - - 1
------------------------------------------------------------
- 1 - - 1
------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 387 $ 326 $ 45 $ (370) $ 388
============================================================
(8) Represents CMSG Investment Company IV consolidated with CMSG Luxembourg II
SARL and CMSG Investment Company II included on the equity method of
accounting.
CMSG LUXEMBOURG II SARL
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
Jorf Jorf Inter- CMSG
CMSG CMSG CMSG Lasfar Lasfar company Luxembourg
Luxembourg Luxembourg Netherlands Energlak- Power Energy Elimina- II SARL
II SARL SARL BV tiebolag Aktiebolag tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - - - -
-------------------------------------------------------------------------------
- - - - - - -
Construction work-in-progress - - - - - - -
-------------------------------------------------------------------------------
- - - - - - -
-------------------------------------------------------------------------------
Investments
Associated companies 59 59 27 - - (145) -
Enterprises - - - 128 118 - 246
-------------------------------------------------------------------------------
59 59 27 128 118 (145) 246
-------------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - - - -
Restricted cash - - - - - - -
Accounts/notes receivable - - - - - - -
Accounts/notes receivable-related parties - - 32 25 23 - 80
Materials and supplies - - - - - - -
Prepayments and other - - - - - - -
-------------------------------------------------------------------------------
- - 32 25 23 - 80
-------------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - - - -
Goodwill - - - - - - -
Notes receivable-related parties - - - - - - -
Notes receivable - - - - - - -
Deferred income taxes - - - - - - -
Other - - - - - - -
-------------------------------------------------------------------------------
- - - - - - -
-------------------------------------------------------------------------------
Total Assets $ 59 $ 59 $ 59 $ 153 $ 141 $ (145) $ 326
===============================================================================
CMSG LUXEMBOURG II SARL
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
Jorf Jorf Inter- CMSG
CMSG CMSG CMSG Lasfar Lasfar company Luxembourg
Luxembourg Luxembourg Netherlands Energlak- Power Energy Elimina- II SARL
II SARL SARL BV tiebolag Aktiebolag tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital - - - 23 21 (44) -
Other comprehensive income (loss) (11) (11) (11) (5) (5) 32 (11)
Retained earnings (deficit) 67 70 70 (4) (3) (133) 67
-------------------------------------------------------------------------------
56 59 59 14 13 (145) 56
Long-term debt - - - - - - -
Long-term debt-related parties - - - - - - -
Non-current capital leases - - - - - - -
-------------------------------------------------------------------------------
56 59 59 14 13 (145) 56
-------------------------------------------------------------------------------
Minority Interests - - - - - - -
-------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - - -
Current capital leases - - - - - - -
Notes payable 3 - - 134 123 - 260
Accounts payable - - - - - - -
Accounts payable-related parties - - - - - - -
Accrued interest - - - 5 4 - 9
Accrued taxes - - - - - - -
Other - - - - - - -
-------------------------------------------------------------------------------
3 - - 139 127 - 269
-------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - - -
Other - - - - 1 - 1
-------------------------------------------------------------------------------
- - - - 1 - 1
-------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 59 $ 59 $ 59 $ 153 $ 141 $ (145) $ 326
===============================================================================
CMSG INVESTMENT CO II
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG CMSG CMSG Inter- CMSG
Investment Jorf Jorf Jorf company Investment
Company Lasfar Lasfar Lasfar Elimina- Co. II
II LDC I LDC II Handelsbolag tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - - -
-------------------------------------------------------------------------
- - - - - -
Construction work-in-progress - - - - - -
-------------------------------------------------------------------------
- - - - - -
-------------------------------------------------------------------------
Investments
Associated companies 2 1 1 - (4) -
Enterprises - - - 10 - 10
-------------------------------------------------------------------------
2 1 1 10 (4) 10
-------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - - -
Restricted cash - - - - - -
Accounts/notes receivable - - - - - -
Accounts/notes receivable-related parties 33 - - 2 - 35
Materials and supplies - - - - - -
Prepayments and other - - - - - -
-------------------------------------------------------------------------
33 - - 2 - 35
-------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - - -
Goodwill - - - - - -
Notes receivable-related parties - - - - - -
Notes receivable - - - - - -
Deferred income taxes - - - - - -
Other - - - - - -
-------------------------------------------------------------------------
- - - - - -
-------------------------------------------------------------------------
Total Assets $ 35 $ 1 $ 1 $ 12 $ (4) $ 45
=========================================================================
CMSG INVESTMENT CO II
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG CMSG CMSG Inter- CMSG
Investment Jorf Jorf Jorf company Investment
Company Lasfar Lasfar Lasfar Elimina- Co. II
II LDC I LDC II Handelsbolag tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 2 (64) 91 6 (33) 2
Other comprehensive income (loss) - - - (1) 1 -
Retained earnings (deficit) 1 65 (90) (3) 28 1
-----------------------------------------------------------------------
3 1 1 2 (4) 3
Long-term debt - - - - - -
Long-term debt-related parties - - - - - -
Non-current capital leases - - - - - -
-----------------------------------------------------------------------
3 1 1 2 (4) 3
-----------------------------------------------------------------------
Minority Interests - - - - - -
-----------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - -
Current capital leases - - - - - -
Notes payable 32 - - 10 - 42
Accounts payable - - - - - -
Accounts payable-related parties - - - - - -
Accrued interest - - - - - -
Accrued taxes - - - - - -
Other - - - - - -
-----------------------------------------------------------------------
32 - - 10 - 42
-----------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - -
Other - - - - - -
-----------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 35 $ 1 $ 1 $ 12 $ (4) $ 45
=======================================================================
CMSG INVESTMENT CO VI
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG CMS Inter- CMSG
Investment Takoradi company Investment
Company Invest. Co. Elimina- Co. VI
VI (9) Consol. tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ 3 $ - $ 3
Less accumulated depreciation,
depletion and amortization - - - -
------------------------------------------------
- 3 - 3
Construction work-in-progress - - - -
------------------------------------------------
- 3 - 3
------------------------------------------------
Investments
Associated companies 109 - (109) -
Enterprises - - - -
------------------------------------------------
109 - (109) -
------------------------------------------------
Current Assets
Cash and temporary cash investments - 1 - 1
Restricted cash - - - -
Accounts/notes receivable - 18 - 18
Accounts/notes receivable-related parties 1 - - 1
Materials and supplies - 7 - 7
Prepayments and other - 1 - 1
------------------------------------------------
1 27 - 28
------------------------------------------------
Non-current Assets
Prepaid pension costs - - - -
Goodwill - - - -
Notes receivable-related parties 50 - - 50
Notes receivable - 107 - 107
Deferred income taxes - (9) - (9)
Other - - - -
------------------------------------------------
50 98 - 148
------------------------------------------------
Total Assets $ 160 $ 128 $(109) $ 179
================================================
(9) Represents CMSG Investment Company VI with CMSG Takoradi Investment Company
included on the equity method of accounting.
CMSG INVESTMENT CO VI
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG CMS Inter- CMSG
Investment Takoradi company Investment
Company Invest. Co. Elimina- Co. VI
VI (9) Consol. tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ -
Other paid-in-capital 115 99 (99) 115
Other comprehensive income (loss) - - - -
Retained earnings (deficit) 45 10 (10) 45
-------------------------------------------------
160 109 (109) 160
Long-term debt - - - -
Long-term debt-related parties - - - -
Non-current capital leases - - - -
-------------------------------------------------
160 109 (109) 160
-------------------------------------------------
Minority Interests - 12 - 12
-------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - -
Current capital leases - - - -
Notes payable - - - -
Accounts payable - 2 - 2
Accounts payable-related parties - - - -
Accrued interest - - - -
Accrued taxes - 4 - 4
Other - 1 - 1
-------------------------------------------------
- 7 - 7
-------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - -
Other - - - -
-------------------------------------------------
- - - -
-------------------------------------------------
Total Stockholders' Equity and Liabilities $ 160 $ 128 $(109) $ 179
=================================================
(9) Represents CMSG Investment Company VI with CMSG Takoradi Investment Company
included on the equity method of accounting.
CMS TAKORADI INVESTMENT CO.
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMS CMS Inter- CMS
Takoradi Takoradi Takoradi company Takoradi
Investment Investment International Elimina- Invest. Co.
Company Company II Company tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ 3 $ - $ 3
Less accumulated depreciation,
depletion and amortization - - - - -
---------------------------------------------------------------------
- - 3 - 3
Construction work-in-progress - - - - -
---------------------------------------------------------------------
- - 3 - 3
---------------------------------------------------------------------
Investments
Associated companies 109 109 - (218) -
Enterprises - - - - -
---------------------------------------------------------------------
109 109 - (218) -
---------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - 1 - 1
Restricted cash - - - - -
Accounts/notes receivable - - 18 - 18
Accounts/notes receivable-related parties - - - - -
Materials and supplies - - 7 - 7
Prepayments and other - - 1 - 1
---------------------------------------------------------------------
- - 27 - 27
---------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - -
Goodwill - - - - -
Notes receivable-related parties - - - - -
Notes receivable - - 107 - 107
Deferred income taxes - - (9) - (9)
Other - - 95 (95) -
---------------------------------------------------------------------
- - 193 (95) 98
---------------------------------------------------------------------
Total Assets $ 109 $ 109 $ 223 $(313) $ 128
=====================================================================
CMS TAKORADI INVESTMENT CO.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMS CMS Inter- CMS
Takoradi Takoradi Takoradi company Takoradi
Investment Investment International Elimina- Invest. Co.
Company Company II Company tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ -
Other paid-in-capital 99 99 110 (209) 99
Other comprehensive income (loss) - - - - -
Retained earnings (deficit) 10 10 11 (21) 10
---------------------------------------------------------------------
109 109 121 (230) 109
Long-term debt - - - - -
Long-term debt-related parties - - - - -
Non-current capital leases - - - - -
---------------------------------------------------------------------
109 109 121 (230) 109
---------------------------------------------------------------------
Minority Interests - - - 12 12
---------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - -
Current capital leases - - - - -
Notes payable - - - - -
Accounts payable - - 2 - 2
Accounts payable-related parties - - - - -
Accrued interest - - - - -
Accrued taxes - - 4 - 4
Other - - 1 - 1
---------------------------------------------------------------------
- - 7 - 7
---------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - -
Other - - 95 (95) -
---------------------------------------------------------------------
- - 95 (95) -
---------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 109 $ 109 $ 223 $(313) $ 128
=====================================================================
CMSG INVESTMENT CO VII
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG CMS Inter- CMSG
Investment CMSG Jabail company Investment
Company Taweelah Investment Elimina- Co. VII
VII Limited Company I tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - -
------------------------------------------------------------------
- - - - -
Construction work-in-progress - - - - -
------------------------------------------------------------------
- - - - -
------------------------------------------------------------------
Investments
Associated companies 58 - - (58) -
Enterprises (26) 60 - - 34
------------------------------------------------------------------
32 60 - (58) 34
------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - -
Restricted cash - - - - -
Accounts/notes receivable - - - - -
Accounts/notes receivable-related parties - - - - -
Materials and supplies - - - - -
Prepayments and other - - - - -
------------------------------------------------------------------
- - - - -
------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - -
Goodwill - - - - -
Notes receivable-related parties - - - - -
Notes receivable - - - - -
Deferred income taxes - - - - -
Other - - - - -
------------------------------------------------------------------
- - - - -
------------------------------------------------------------------
Total Assets $ 32 $ 60 $ - $(58) $ 34
==================================================================
CMSG INVESTMENT CO VII
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG CMS Inter- CMSG
Investment CMSG Jabail company Investment
Company Taweelah Investment Elimina- Co. VII
VII Limited Company I tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ -
Other paid-in-capital 12 74 11 (85) 12
Other comprehensive income (loss) (15) 3 - (3) (15)
Retained earnings (deficit) (19) (19) (11) 30 (19)
-------------------------------------------------------------------
(22) 58 - (58) (22)
Long-term debt - - - - -
Long-term debt-related parties 54 - - - 54
Non-current capital leases - - - - -
-------------------------------------------------------------------
32 58 - (58) 32
-------------------------------------------------------------------
Minority Interests - - - - -
-------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - -
Current capital leases - - - - -
Notes payable - - - - -
Accounts payable - - - - -
Accounts payable-related parties - - - - -
Accrued interest - - - - -
Accrued taxes - - - - -
Other - - - - -
-------------------------------------------------------------------
- - - - -
-------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - -
Other - 2 - - 2
-------------------------------------------------------------------
- 2 - - 2
-------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 32 $ 60 $ - $(58) $ 34
===================================================================
HYDRA-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG HCE Inter- HYDRA-CO
HYDRA-CO Operating CMSG Rockport company Enterprises,
Enterprises, Company Stratton Diesel, Elimina- Inc.
Inc. (10) II Company Inc. tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - - -
----------------------------------------------------------------------------
- - - - - -
Construction work-in-progress - - - - - -
----------------------------------------------------------------------------
- - - - - -
----------------------------------------------------------------------------
Investments
Associated companies 29 - - - (29) -
Enterprises 13 - - 28 - 41
----------------------------------------------------------------------------
42 - - 28 (29) 41
----------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - - -
Restricted cash - - - - - -
Accounts/notes receivable - - - - - -
Accounts/notes receivable-related parties 2 2 - - - 4
Materials and supplies - - - - - -
Prepayments and other - - - 1 - 1
----------------------------------------------------------------------------
2 2 - 1 - 5
----------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - 2 - - - 2
Goodwill - 1 - - - 1
Notes receivable-related parties - - - - - -
Notes receivable - - - - - -
Deferred income taxes 8 (1) 1 (3) - 5
Other - - - - - -
----------------------------------------------------------------------------
8 2 1 (3) - 8
----------------------------------------------------------------------------
Total Assets $ 52 $ 4 $ 1 $ 26 $(29) $ 54
============================================================================
(10) Represents HYDRA-CO Enterprises, Inc., HCE Biopower, Inc., HCO-Jamaica,
Inc., HCE Jamaica Development, Inc. and New Bern Energy Recovery, Inc.
consolidated.
HYDRA-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG HCE Inter- HYDRA-CO
HYDRA-CO Operating CMSG Rockport company Enterprises,
Enterprises, Company Stratton Diesel, Elimina- Inc.
Inc.(10) II Company Inc. tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 199 3 21 20 (44) 199
Other comprehensive income (loss) - - - - - -
Retained earnings (deficit) (156) (1) (20) 6 15 (156)
--------------------------------------------------------------------
43 2 1 26 (29) 43
Long-term debt 1 - - - - 1
Long-term debt-related parties - - - - - -
Non-current capital leases - - - - - -
--------------------------------------------------------------------
44 2 1 26 (29) 44
--------------------------------------------------------------------
Minority Interests - - - - - -
--------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - -
Current capital leases - - - - - -
Notes payable - - - - - -
Accounts payable - - - - - -
Accounts payable-related parties - 1 - - - 1
Accrued interest 1 - - - - 1
Accrued taxes 6 1 - - - 7
Other - - - - - -
--------------------------------------------------------------------
7 2 - - - 9
--------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - -
Other 1 - - - - 1
--------------------------------------------------------------------
1 - - - - 1
--------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 52 $ 4 $ 1 $ 26 $ (29) $ 54
====================================================================
(10) Represents HYDRA-CO Enterprises, Inc., HCE Biopower, Inc., HCO-Jamaica,
Inc., HCE Jamaica Development, Inc. and New Bern Energy Recovery, Inc.
consolidated.
CMS GAS TRANSMISSION COMPANY
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMS Gas CMS CMS CMS Panhandle CMS
Transmission Energy CMS Gas Saginaw Bay Marysville Eastern Field
Company Investment Argentina Lateral Gas Liquids Pipe Line Services
(11) LLC Consol. Company Company Company Company Inc.
Plant and Property (At Cost)
Enterprises $ - $ 118 $ - $ - $ - $ - $ -
Other - - - - - - -
-----------------------------------------------------------------------------------
- 118 - - - - -
Less accumulated depreciation,
depletion and amortization - 43 - - - - -
-----------------------------------------------------------------------------------
- 75 - - - - -
Construction work-in-progress - - - - - - -
-----------------------------------------------------------------------------------
- 75 - - - - -
-----------------------------------------------------------------------------------
Investments
Associated companies 335 - - - - - -
Enterprises - - - - - - -
-----------------------------------------------------------------------------------
335 - - - - - -
-----------------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments (1) 2 1 - - - -
Accounts/notes receivable 2 2 - - - - -
Accounts/notes receivable-related parties 37 13 - - - - -
Gas in underground storage 2 - - - - - -
Materials and supplies - 1 - - - - -
Assets held for sale 4 - - - - - -
Prepayments and other - 1 - - - - -
-----------------------------------------------------------------------------------
44 19 1 - - - -
-----------------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs (8) 1 - - - - -
Notes receivable-related parties 14 - 8 - - - -
Notes receivable - 18 - - - - -
Deferred income taxes 84 - - - - - -
Other 8 - - - - - -
-----------------------------------------------------------------------------------
98 19 8 - - - -
-----------------------------------------------------------------------------------
Total Assets $ 477 $ 113 $ 9 $ - $ - $ - $ -
===================================================================================
(Continued on Following Page)
CMS GAS TRANSMISSION COMPANY
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- CMS Gas
company Transmission
Elimina- Company
tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ 118
Other - -
----------------------
- 118
Less accumulated depreciation,
depletion and amortization - 43
----------------------
- 75
Construction work-in-progress - -
----------------------
- 75
----------------------
Investments
Associated companies (85) 250
Enterprises - -
----------------------
(85) 250
----------------------
Current Assets
Cash and temporary cash investments - 2
Accounts/notes receivable - 4
Accounts/notes receivable-related parties - 50
Gas in underground storage - 2
Materials and supplies - 1
Assets held for sale - 4
Prepayments and other - 1
----------------------
- 64
----------------------
Non-current Assets
Prepaid pension costs - (7)
Notes receivable-related parties - 22
Notes receivable - 18
Deferred income taxes 88 172
Other - 8
----------------------
88 213
----------------------
Total Assets $ 3 $ 602
======================
(11) Represents CMS Gas Transmission Company with CMS Energy Investment LLC
included on the equity method of accounting.
CMS GAS TRANSMISSION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMS Gas CMS CMS CMS Panhandle CMS
Transmission Energy CMS Gas Saginaw Bay Marysville Eastern Field
Company Investment Argentina Lateral Gas Liquids Pipe Line Services
(11) LLC Consol. Company Company Company (12) Company (12) Inc. (12)
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ 4 $ - $ - $ - $ -
Other paid-in-capital 1,333 222 165 8 - - -
Other comprehensive income (loss) (251) (145) (212) - - - -
Retained earnings (deficit) (672) - 51 (8) - - -
-----------------------------------------------------------------------------------
410 77 8 - - - -
Preferred stock - 11 - - - - -
Long-term debt - 2 - - - - -
Non-current capital leases - - - - - - -
-----------------------------------------------------------------------------------
410 90 8 - - - -
-----------------------------------------------------------------------------------
Minority Interests - 3 - - - - -
-----------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - - -
Current capital leases - - - - - - -
Notes payable 2 - - - - - -
Accounts payable 2 1 - - - - -
Accounts payable-related parties 1 3 1 - - - -
Accrued interest - - - - - - -
Accrued taxes 29 - - - - - -
Other 14 - - - - - -
-----------------------------------------------------------------------------------
48 4 1 - - - -
-----------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 17 - - - - - -
Asset retirement obligation - 1 - - - - -
Other 2 15 - - - - -
-----------------------------------------------------------------------------------
19 16 - - - - -
-----------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 477 $ 113 $ 9 $ - $ - $ - $ -
===================================================================================
(Continued on Following Page)
CMS GAS TRANSMISSION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- CMS Gas
company Transmission
Elimina- Company
tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ (4) $ -
Other paid-in-capital (395) 1,333
Other comprehensive income (loss) 357 (251)
Retained earnings (deficit) (43) (672)
-------------------------
(85) 410
Preferred stock - 11
Long-term debt - 2
Non-current capital leases - -
-------------------------
(85) 423
-------------------------
Minority Interests - 3
-------------------------
Current Liabilities
Current portion of long-term debt - -
Current capital leases - -
Notes payable - 2
Accounts payable - 3
Accounts payable-related parties - 5
Accrued interest - -
Accrued taxes 88 117
Other - 14
-------------------------
88 141
-------------------------
Non-current Liabilities
Postretirement benefits - 17
Asset retirement obligation - 1
Other - 17
-------------------------
- 35
-------------------------
Total Stockholders' Equity and Liabilities $ 3 $ 602
=========================
(11) Represents CMS Gas Transmission Company with CMS Energy Investment LLC
included on the equity method of accounting.
(12) Sold in 2003. Generated partial year earnings (see Consolidating Statement
of Income).
CMS ENERGY INVESTMENT LLC
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMS Loy Yang CMSG CMS CMS CMS
Energy Holdings Investment Antrim Grand Bay Area CMS
Investment No. 1-4 Company I Gas Lacs Pipeline Jackson
LLC (13) LLC Consol. LLC LLC LLC LLC
Plant and Property (At Cost)
Enterprises $ - $ - $ - $55 $29 $24 $10
Other - - - - - - -
------------------------------------------------------------------------
- - - 55 29 24 10
Less accumulated depreciation,
depletion and amortization - - - 23 12 5 3
------------------------------------------------------------------------
- - - 32 17 19 7
Construction work-in-progress - - - - - - -
------------------------------------------------------------------------
- - - 32 17 19 7
------------------------------------------------------------------------
Investments
Associated companies 88 12 - - - - -
Enterprises - - - - - - -
------------------------------------------------------------------------
88 12 - - - - -
------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments 1 - - - - - 1
Accounts/notes receivable - - - 1 - - -
Accounts/notes receivable-related parties - - 12 1 - 1 -
Gas in underground storage - - - - - - -
Materials and supplies - - - 1 - - -
Assets held for sale - - - - - - -
Prepayments and other - - - - 1 - -
------------------------------------------------------------------------
1 - 12 3 1 1 1
------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - 1 - - -
Notes receivable-related parties - - - - - - -
Notes receivable - - - - - - -
Deferred income taxes - - - - - - -
Other - - - - - - -
------------------------------------------------------------------------
- - - 1 - - -
------------------------------------------------------------------------
Total Assets $89 $12 $12 $36 $18 $20 $ 8
========================================================================
(Continued on Following Page)
CMS ENERGY INVESTMENT LLC
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- CMS
CMS company Energy
Litchfield Elimina- Investment
LLC tions LLC Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ 118
Other - - -
-----------------------------------
- - 118
Less accumulated depreciation,
depletion and amortization - - 43
-----------------------------------
- - 75
Construction work-in-progress - - -
-----------------------------------
- - 75
-----------------------------------
Investments
Associated companies - (100) -
Enterprises - - -
-----------------------------------
- (100) -
-----------------------------------
Current Assets
Cash and temporary cash investments - - 2
Accounts/notes receivable 1 - 2
Accounts/notes receivable-related parties - (1) 13
Gas in underground storage - - -
Materials and supplies - - 1
Assets held for sale - - -
Prepayments and other - - 1
-----------------------------------
1 (1) 19
-----------------------------------
Non-current Assets
Prepaid pension costs - - 1
Notes receivable-related parties - - -
Notes receivable 18 - 18
Deferred income taxes - - -
Other - - -
-----------------------------------
18 - 19
-----------------------------------
Total Assets $ 19 $(101) $ 113
===================================
(13) Represents CMS Energy Investment LLC with CMSG Investment Company I
included on the equity method of accounting.
CMS ENERGY INVESTMENT LLC
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMS Loy Yang CMSG CMS CMS CMS
Energy Holdings Investment Antrim Grand Bay Area CMS
Investment No. 1-4 Company I Gas Lacs Pipeline Jackson
LLC (13) LLC Consol. LLC LLC LLC LLC
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 222 180 340 33 32 27 5
Other comprehensive income (loss) (145) (168) (169) - - - -
Retained earnings (deficit) - - (159) - (14) (8) (1)
-----------------------------------------------------------------------------------
77 12 12 33 18 19 4
Preferred stock 11 - - - - - -
Long-term debt - - - - - - 2
Non-current capital leases - - - - - - -
-----------------------------------------------------------------------------------
88 12 12 33 18 19 6
-----------------------------------------------------------------------------------
Minority Interests - - - - - - 1
-----------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - - -
Current capital leases - - - - - - -
Notes payable 1 - - - - - -
Accounts payable - - - 1 - - -
Accounts payable-related parties - - - 1 - 1 1
Accrued interest - - - - - - -
Accrued taxes - - - - - - -
Other - - - - - - -
-----------------------------------------------------------------------------------
1 - - 2 - 1 1
-----------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - - -
Asset retirement obligation - - - 1 - - -
Other - - - - - - -
-----------------------------------------------------------------------------------
- - - 1 - - -
-----------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 89 $ 12 $ 12 $ 36 $ 18 $ 20 $ 8
===================================================================================
(Continued on Following Page)
CMS ENERGY INVESTMENT LLC
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- CMS
CMS company Energy
Litchfield Elimina- Investment
LLC tions LLC Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ -
Other paid-in-capital 4 (621) 222
Other comprehensive income (loss) - 337 (145)
Retained earnings (deficit) - 182 -
-----------------------------------
4 (102) 77
Preferred stock - - 11
Long-term debt - - 2
Non-current capital leases - - -
-----------------------------------
4 (102) 90
-----------------------------------
Minority Interests - 2 3
-----------------------------------
Current Liabilities
Current portion of long-term debt - - -
Current capital leases - - -
Notes payable - (1) -
Accounts payable - - 1
Accounts payable-related parties - - 3
Accrued interest - - -
Accrued taxes - - -
Other - - -
-----------------------------------
- (1) 4
-----------------------------------
Non-current Liabilities
Postretirement benefits - - -
Asset retirement obligation - - 1
Other 15 - 15
-----------------------------------
15 - 16
-----------------------------------
Total Stockholders' Equity and Liabilities $ 19 $(101) $ 113
===================================
(13) Represents CMS Energy Investment LLC with CMSG Investment Company I
included on the equity method of accounting.
CMSG INVESTMENT COMPANY I
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG CMSG Inter- CMSG
Investment Loy Yang company Investment
Company Holdings 1-2 Elimina- Company I
I (14) ltd. Consol. tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ -
Other - - - -
-------------------------------------------------
- - - -
Less accumulated depreciation,
depletion and amortization - - - -
-------------------------------------------------
- - - -
Construction work-in-progress - - - -
-------------------------------------------------
- - - -
-------------------------------------------------
Investments
Associated companies (288) - 288 -
Enterprises - - - -
-------------------------------------------------
(288) - 288 -
-------------------------------------------------
Current Assets
Cash and temporary cash investments - - - -
Accounts/notes receivable - - - -
Accounts/notes receivable-related parties 300 11 (299) 12
Gas in underground storage - - - -
Materials and supplies - - - -
Assets held for sale - - - -
Prepayments and other - - - -
-------------------------------------------------
300 11 (299) 12
-------------------------------------------------
Non-current Assets
Prepaid pension costs - - - -
Notes receivable-related parties - - - -
Notes receivable - - - -
Deferred income taxes - - - -
Other - - - -
-------------------------------------------------
- - - -
-------------------------------------------------
Total Assets $ 12 $ 11 $ (11) $ 12
=================================================
(14) Represents CMSG Investment Company I with CMSG Loy Yang Holdings 1 and 2
Ltd. included on the equity method of accounting.
CMSG INVESTMENT COMPANY I
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG CMSG Inter- CMSG
Investment Loy Yang company Investment
Company Holdings 1-2 Elimina- Company I
I (14) ltd. Consol. tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ -
Other paid-in-capital 340 300 (300) 340
Other comprehensive income (loss) (169) (152) 152 (169)
Retained earnings (deficit) (159) (436) 436 (159)
-------------------------------------------------
12 (288) 288 12
Preferred stock - - - -
Long-term debt - - - -
Non-current capital leases - - - -
-------------------------------------------------
12 (288) 288 12
-------------------------------------------------
Minority Interests - - - -
-------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - -
Current capital leases - - - -
Notes payable - 299 (299) -
Accounts payable - - - -
Accounts payable-related parties - - - -
Accrued interest - - - -
Accrued taxes - - - -
Other - - - -
-------------------------------------------------
- 299 (299) -
-------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - -
Asset retirement obligation - - - -
Other - - - -
-------------------------------------------------
- - - -
-------------------------------------------------
Total Stockholders' Equity and Liabilities $ 12 $ 11 $ (11) $ 12
=================================================
(14) Represents CMSG Investment Company I with CMSG Loy Yang Holdings 1 and 2
Ltd. included on the equity method of accounting.
CMSG LOY YANG HOLD 1-2 LTD.
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG Horizon CMSG CMSG Inter- CMSG
Loy Yang Energy Loy Yang Horizon company Loy Yang
Holdings Holdings Holdings Energy Elimina- Holdings 1-2
1 Ltd. Ltd. 2 Ltd. Holding Ltd. tions ltd. Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ -
Other - - - - - -
--------------------------------------------------------------------------
- - - - - -
Less accumulated depreciation,
depletion and amortization - - - - - -
--------------------------------------------------------------------------
- - - - - -
Construction work-in-progress - - - - - -
--------------------------------------------------------------------------
- - - - - -
--------------------------------------------------------------------------
Investments
Associated companies (149) - (139) - 288 -
Enterprises - - - - - -
--------------------------------------------------------------------------
(149) - (139) - 288 -
--------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - - - -
Accounts/notes receivable - - - - - -
Accounts/notes receivable-related parties - - - 11 - 11
Gas in underground storage - - - - - -
Materials and supplies - - - - - -
Assets held for sale - - - - - -
Prepayments and other - - - - - -
--------------------------------------------------------------------------
- - - 11 - 11
--------------------------------------------------------------------------
Non-current Assets
Prepaid pension costs - - - - - -
Notes receivable-related parties - - - - - -
Notes receivable - - - - - -
Deferred income taxes - - - - - -
Other - - - - - -
--------------------------------------------------------------------------
- - - - - -
--------------------------------------------------------------------------
Total Assets $(149) $ - $(139) $ 11 $ 288 $ 11
===========================================================================
CMSG LOY YANG HOLD 1-2 LTD.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG Horizon CMSG CMSG Inter- CMSG
Loy Yang Energy Loy Yang Horizon company Loy Yang
Holdings Holdings Holdings Energy Elimina- Holdings 1-2
1 Ltd. Ltd. 2 Ltd. Holding Ltd. tions ltd. Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 143 143 157 157 (300) 300
Other comprehensive income (loss) (76) (76) (76) (76) 152 (152)
Retained earnings (deficit) (216) (216) (220) (220) 436 (436)
----------------------------------------------------------------------------
(149) (149) (139) (139) 288 (288)
Preferred stock - - - - - -
Long-term debt - - - - - -
Non-current capital leases - - - - - -
----------------------------------------------------------------------------
(149) (149) (139) (139) 288 (288)
----------------------------------------------------------------------------
Minority Interests - - - - - -
----------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - -
Current capital leases - - - - - -
Notes payable - 149 - 150 - 299
Accounts payable - - - - - -
Accounts payable-related parties - - - - - -
Accrued interest - - - - - -
Accrued taxes - - - - - -
Other - - - - - -
----------------------------------------------------------------------------
- 149 - 150 - 299
----------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - -
Asset retirement obligation - - - - - -
Other - - - - - -
----------------------------------------------------------------------------
- - - - - -
----------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $(149) $ - $(139) $ 11 $ 288 $ 11
============================================================================
CMS INT'L VENTURES LLC
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMS CMSG CMS Western
CMS Operating Invest. Electric & Gas Australia CMSG
Int'l Ventures SRL Co. III LLC GT Co. I Invest.
LLC (15) Consol. Consol. Consol. Consol. Co. V
Plant and Property (At Cost)
Enterprises $ - $ 109 $ - $ 241 $ - $ -
Other - - - - - -
-----------------------------------------------------------------------------
- 109 - 241 - -
Less accumulated depreciation,
depletion and amortization - 35 - 200 - -
-----------------------------------------------------------------------------
- 74 - 41 - -
Construction work-in-progress - - - 13 - -
-----------------------------------------------------------------------------
- 74 - 54 - -
-----------------------------------------------------------------------------
Investments
Associated companies 641 - - - - 63
Enterprises - 8 71 14 248 23
-----------------------------------------------------------------------------
641 8 71 14 248 86
-----------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - 21 4 13 6 -
Accounts/notes receivable - 19 1 28 - -
Accounts/notes receivable-related parties 38 - 8 5 1 5
Materials and supplies - 6 - 6 - -
Assets held for sale - - - - 13 -
Prepayments and other - 1 1 16 - -
-----------------------------------------------------------------------------
38 47 14 68 20 5
-----------------------------------------------------------------------------
Non-current Assets
Assets held for sale - - - - 2 -
Prepaid pension costs - - - - - -
Goodwill - - 5 19 - -
Notes receivable-related parties 19 - 7 - 60 -
Notes receivable - - - - - -
Deferred income taxes - (8) - 14 (5) -
Other - 21 2 7 1 -
-----------------------------------------------------------------------------
19 13 14 40 58 -
-----------------------------------------------------------------------------
Total Assets $ 698 $ 142 $ 99 $ 176 $ 326 $ 91
=============================================================================
(Continued on Following Page)
CMS INT'L VENTURES LLC
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS Inter- CMS Int'l
Int'l Ventures company Ventures
LLC Elimina- LLC
Branch tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ 350
Other - - -
-------------------------------------
- - 350
Less accumulated depreciation,
depletion and amortization - - 235
-------------------------------------
- - 115
Construction work-in-progress - - 13
-------------------------------------
- - 128
-------------------------------------
Investments
Associated companies - (704) -
Enterprises - - 364
-------------------------------------
- (704) 364
-------------------------------------
Current Assets
Cash and temporary cash investments - - 44
Accounts/notes receivable - - 48
Accounts/notes receivable-related parties - (29) 28
Materials and supplies - - 12
Assets held for sale - - 13
Prepayments and other - - 18
-------------------------------------
- (29) 163
-------------------------------------
Non-current Assets
Assets held for sale - - 2
Prepaid pension costs - - -
Goodwill - - 24
Notes receivable-related parties - - 86
Notes receivable - - -
Deferred income taxes - - 1
Other 42 - 73
-------------------------------------
42 - 186
-------------------------------------
Total Assets $ 42 $(733) $ 841
=====================================
(15) Represents CMS International Ventures LLC and CMS Generation SRL
consolidated with CMS Operating SRL, CMSG Investment Company III, CMS Electric &
Gas LLC and Western Australia GT Company I included on the equity method of
accounting.
CMS INT'L VENTURES LLC
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMS CMSG CMS Western
CMS Operating Invest. Electric & Gas Australia CMSG CMS
Int'l Ventures SRL Co. III LLC GT Co. I Invest. Generation
LLC (15) Consol. Consol. Consol. Consol. Co. V SRL
Capitalization
Common Stockholders' Equity
Common stock $ - $ 35 $ - $ - $ 236 $ - $ -
Other paid-in-capital 945 213 80 458 5 84 42
Other comprehensive income (loss) (270) (173) (4) (92) 10 - (11)
Retained earnings (deficit) 2 (3) 16 (258) (15) 7 (31)
-----------------------------------------------------------------------------------
677 72 92 108 236 91 -
Long-term debt - 33 - 4 - - -
Long-term debt-related parties 18 - - - - - -
Non-current capital leases - - - - - - -
-----------------------------------------------------------------------------------
695 105 92 112 236 91 -
-----------------------------------------------------------------------------------
Minority Interests - - - 13 63 - -
-----------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - 6 - 3 - - -
Current capital leases - - - - - - -
Notes payable - - 7 - 20 - -
Accounts payable 1 12 - 14 1 - -
Accounts payable-related parties - 9 - 1 - - -
Accrued interest - 1 - - - - -
Accrued taxes - 4 - 14 3 - -
Liabilities held for sale - - - - 2 - -
Other - 1 - 3 1 - -
-----------------------------------------------------------------------------------
1 33 7 35 27 - -
-----------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 2 - - 2 - - -
Other - 4 - 14 - - -
-----------------------------------------------------------------------------------
2 4 - 16 - - -
-----------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 698 $ 142 $ 99 $ 176 $ 326 $ 91 $ -
===================================================================================
(Continued on Following Page)
CMS INT'L VENTURES LLC
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS Inter- CMS Int'l
Int'l Ventures company Ventures
LLC Elimina- LLC
Branch tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $(271) $ -
Other paid-in-capital 45 (927) 945
Other comprehensive income (loss) - 270 (270)
Retained earnings (deficit) (3) 287 2
----------------------------------------
42 (641) 677
Long-term debt - - 37
Long-term debt-related parties - - 18
Non-current capital leases - - -
----------------------------------------
42 (641) 732
----------------------------------------
Minority Interests - (63) 13
----------------------------------------
Current Liabilities
Current portion of long-term debt - - 9
Current capital leases - - -
Notes payable - (19) 8
Accounts payable - - 28
Accounts payable-related parties - (10) -
Accrued interest - - 1
Accrued taxes - - 21
Liabilities held for sale - - 2
Other - - 5
----------------------------------------
- (29) 74
----------------------------------------
Non-current Liabilities
Postretirement benefits - - 4
Other - - 18
----------------------------------------
- - 22
----------------------------------------
Total Stockholders' Equity and Liabilities $ 42 $(733) $ 841
========================================
(15) Represents CMS International Ventures LLC with CMS Operating SRL, CMSG
Investment Company III, CMS Electric & Gas LLC and Western Australia GT Company
I included on the equity method of accounting.
CMS OPERATING SRL
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
Inter-
CMS Centrales CMS Company CMS
Operating Termicas Ensenada Elimina- Operating
SRL (16) Mendoza SA SA tions SRL Consol.
Plant and Property (At Cost)
Enterprises $ 1 $ 76 $ 32 $ - $ 109
Other - - - - -
--------------------------------------------------------------
1 76 32 - 109
Less accumulated depreciation,
depletion and amortization - 25 10 - 35
--------------------------------------------------------------
1 51 22 - 74
Construction work-in-progress - - - - -
--------------------------------------------------------------
1 51 22 - 74
--------------------------------------------------------------
Investments
Associated companies 47 - - (47) -
Enterprises 8 - - - 8
--------------------------------------------------------------
55 - - (47) 8
--------------------------------------------------------------
Current Assets
Cash and temporary cash investments 9 11 1 - 21
Accounts/notes receivable 1 12 6 - 19
Accounts/notes receivable-related parties - - - - -
Materials and supplies - 5 1 - 6
Assets held for sale - - - - -
Prepayments and other - 1 - - 1
--------------------------------------------------------------
10 29 8 - 47
--------------------------------------------------------------
Non-current Assets
Assets held for sale - - - - -
Prepaid pension costs - - - - -
Goodwill - - - - -
Notes receivable-related parties - - - - -
Notes receivable - - - - -
Deferred income taxes 1 (7) (2) - (8)
Other 21 - - - 21
--------------------------------------------------------------
22 (7) (2) - 13
--------------------------------------------------------------
Total Assets $ 88 $ 73 $ 28 $ (47) $ 142
==============================================================
(16) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated.
CMS OPERATING SRL
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
Inter-
CMS Centrales CMS Company CMS
Operating Termicas Ensenada Elimina- Operating
SRL (16) Mendoza SA SA tions SRL Consol.
Capitalization
Common Stockholders' Equity
Common stock $ 35 $ 36 $ - $ (36) $ 35
Other paid-in-capital 213 139 39 (178) 213
Other comprehensive income (loss) (173) (116) (54) 170 (173)
Retained earnings (deficit) (3) 3 - (3) (3)
---------------------------------------------------------------
72 62 (15) (47) 72
Long-term debt - - 33 - 33
Long-term debt-related parties - - - - -
Non-current capital leases - - - - -
---------------------------------------------------------------
72 62 18 (47) 105
---------------------------------------------------------------
Minority Interests - - - - -
---------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - 6 - 6
Current capital leases - - - - -
Notes payable - - - - -
Accounts payable 1 9 2 - 12
Accounts payable-related parties 9 - - - 9
Accrued interest - - 1 - 1
Accrued taxes 1 2 1 - 4
Liabilities held for sale - - - - -
Other 1 - - - 1
---------------------------------------------------------------
12 11 10 - 33
---------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - -
Other 4 - - - 4
---------------------------------------------------------------
4 - - - 4
---------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 88 $ 73 $ 28 $ (47) $ 142
===============================================================
(16) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated.
CMSG INVESTMENT COMPANY III
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMSG CMSG Jegurupadu Inter- CMSG
Investment Jegurupadu CMSG CMSG Company Investment
Company O&M Co. Company Neyveli Elimina- Co. III
III (17) Mauritius Limited Limited tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ -
Other - - - - - -
----------------------------------------------------------------------
- - - - - -
Less accumulated depreciation,
depletion and amortization - - - - - -
----------------------------------------------------------------------
- - - - - -
Construction work-in-progress - - - - - -
----------------------------------------------------------------------
- - - - - -
----------------------------------------------------------------------
Investments
Associated companies 82 - - - (82) -
Enterprises - 5 18 48 - 71
----------------------------------------------------------------------
82 5 18 48 (82) 71
----------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - 1 3 - - 4
Accounts/notes receivable - 1 - - - 1
Accounts/notes receivable-related parties 5 2 1 - - 8
Materials and supplies - - - - - -
Assets held for sale - - - - - -
Prepayments and other 3 - (2) - - 1
----------------------------------------------------------------------
8 4 2 - - 14
----------------------------------------------------------------------
Non-current Assets
Assets held for sale - - - - - -
Prepaid pension costs - - - - - -
Goodwill - - 5 - - 5
Notes receivable-related parties - - 7 - - 7
Notes receivable - - - - - -
Deferred income taxes - - - - - -
Other 2 - - - - 2
----------------------------------------------------------------------
2 - 12 - - 14
----------------------------------------------------------------------
Total Assets $ 92 $ 9 $ 32 $ 48 $(82) $ 99
======================================================================
(17) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG
Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated.
CMSG INVESTMENT COMPANY III
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMSG CMSG Jegurupadu Inter- CMSG
Investment Jegurupadu CMSG CMSG Company Investment
Company O&M Co. Company Neyveli Elimina- Co. III
III (17) Mauritius Limited Limited tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 80 1 31 46 (78) 80
Other comprehensive income (loss) (4) - (5) 1 4 (4)
Retained earnings (deficit) 16 1 6 1 (8) 16
----------------------------------------------------------------------
92 2 32 48 (82) 92
Long-term debt - - - - - -
Long-term debt-related parties - - - - - -
Non-current capital leases - - - - - -
----------------------------------------------------------------------
92 2 32 48 (82) 92
----------------------------------------------------------------------
Minority Interests - - - - - -
----------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - -
Current capital leases - - - - - -
Notes payable - 7 - - - 7
Accounts payable - - - - - -
Accounts payable-related parties - - - - - -
Accrued interest - - - - - -
Accrued taxes - - - - - -
Liabilities held for sale - - - - - -
Other - - - - - -
----------------------------------------------------------------------
- 7 - - - 7
----------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - -
Other - - - - - -
----------------------------------------------------------------------
- - - - - -
----------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 92 $ 9 $ 32 $ 48 $(82) $ 99
======================================================================
(17) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG
Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated.
CMS ELECTRIC & GAS LLC
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
CMS Sistema Companhia Inter- CMS
Electric Electrico del CMS CMS CMS Paulista Company Electric &
& Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC
LLC (18) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol.
Plant and Property (At Cost)
Enterprises $ 1 $ 179 $ - $ 1 $ - $ 60 $ - $ 241
Other - - - - - - - -
-------------------------------------------------------------------------------------------------
1 179 - 1 - 60 - 241
Less accumulated depreciation,
depletion and amortization 1 176 - - 1 22 - 200
-------------------------------------------------------------------------------------------------
- 3 - 1 (1) 38 - 41
Construction work-in-progress - 8 - - - 5 - 13
-------------------------------------------------------------------------------------------------
- 11 - 1 (1) 43 - 54
-------------------------------------------------------------------------------------------------
Investments
Associated companies 69 - 16 - - - (85) -
Enterprises - - - - - 14 - 14
-------------------------------------------------------------------------------------------------
69 - 16 - - 14 (85) 14
-------------------------------------------------------------------------------------------------
Current Assets
Cash and temporary cash - 7 - - - 6 - 13
investments
Accounts/notes receivable (3) 13 (1) - 1 18 - 28
Accounts/notes receivable- 32 - 2 - - - (29) 5
related parties
Materials and supplies - 6 - - - - - 6
Assets held for sale - - - - - - - -
Prepayments and other (1) 1 - 1 - 15 - 16
-------------------------------------------------------------------------------------------------
28 27 1 1 1 39 (29) 68
-------------------------------------------------------------------------------------------------
Non-current Assets
Assets held for sale - - - - - - - -
Prepaid pension costs - - - - - - - -
Goodwill - - - (16) 32 3 - 19
Notes receivable-related - - - - - - - -
parties
Notes receivable - - - - - - - -
Deferred income taxes 11 - - - - (1) 4 14
Other - 5 - - - 1 1 7
-------------------------------------------------------------------------------------------------
11 5 - (16) 32 3 5 40
-------------------------------------------------------------------------------------------------
Total Assets $ 108 $ 43 $ 17 $ (14) $ 32 $ 99 $(109) $ 176
=================================================================================================
(18) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de
Energia Ltda. consolidated.
CMS ELECTRIC & GAS LLC
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
CMS Sistema Companhia Inter- CMS
Electric Electrico del CMS CMS CMS Paulista Company Electric &
& Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC
LLC (18) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 458 63 94 9 136 43 (345) 458
Other comprehensive income (92) - - (41) (25) (25) 91 (92)
(loss)
Retained earnings (deficit) (258) (55) (81) (7) (83) 40 186 (258)
-------------------------------------------------------------------------------------------------
108 8 13 (39) 28 58 (68) 108
Long-term debt - - - - - 4 - 4
Long-term debt-related - - - - - - - -
parties
Non-current capital leases - - - - - - - -
-------------------------------------------------------------------------------------------------
108 8 13 (39) 28 62 (68) 112
-------------------------------------------------------------------------------------------------
Minority Interests - 20 - - 4 6 (17) 13
-------------------------------------------------------------------------------------------------
Current Liabilities
Current portion of - - - - - 3 - 3
long-term debt
Current capital leases - - - - - - - -
Notes payable - - - - - - - -
Accounts payable - 6 1 - - 7 - 14
Accounts payable-related - 5 - 24 - - (28) 1
parties
Accrued interest - - - - - - - -
Accrued taxes - 1 3 - - 6 4 14
Liabilities held for sale - - - - - - - -
Other - 1 - - - 2 - 3
-------------------------------------------------------------------------------------------------
- 13 4 24 - 18 (24) 35
-------------------------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - 2 - - - - - 2
Other - - - 1 - 13 - 14
-------------------------------------------------------------------------------------------------
- 2 - 1 - 13 - 16
-------------------------------------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $ 108 $ 43 $ 17 $ (14) $ 32 $ 99 $(109) $ 176
=================================================================================================
(18) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de
Energia Ltda. consolidated.
WESTERN AUSTRALIA GT CO I
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
Western CMS CMS Compania de
Australia CMS Goldfields International Inversiones
GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy
I (19) SARL BV PTY LTD Svcs. Co. Chile Ltda
Plant and Property (At Cost)
Enterprises $ - $ - $ - $ - $ - $ -
Other - - - - - -
----------------------------------------------------------------------------
- - - - - -
Less accumulated depreciation,
depletion and amortization - - - - - -
----------------------------------------------------------------------------
- - - - - -
Construction work-in-progress - - - - - -
----------------------------------------------------------------------------
- - - - - -
----------------------------------------------------------------------------
Investments
Associated companies 180 29 94 - - -
Enterprises - - - 89 - 159
----------------------------------------------------------------------------
180 29 94 89 - 159
----------------------------------------------------------------------------
Current Assets
Cash and temporary cash investments - - - 6 - -
Accounts/notes receivable - - - - - -
Accounts/notes receivable-related parties 16 - 1 - 64 -
Materials and supplies - - - - - -
Assets held for sale - - - - - -
Prepayments and other - - - - - -
----------------------------------------------------------------------------
16 - 1 6 64 -
----------------------------------------------------------------------------
Non-current Assets
Assets held for sale - - - - - -
Prepaid pension costs - - - - - -
Goodwill - - - - - -
Notes receivable-related parties 60 - - - - -
Notes receivable - - - - - -
Deferred income taxes - - - - - -
Other - - - - - 1
----------------------------------------------------------------------------
60 - - - - 1
----------------------------------------------------------------------------
Total Assets $256 $ 29 $ 95 $ 95 $ 64 $160
============================================================================
(Continued on Following Page)
WESTERN AUSTRALIA GT CO I
Consolidating Balance Sheet - Assets
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- Western
CMS GT company Australia
of Elimina- GT Co. I
Australia tions Consol.
Plant and Property (At Cost)
Enterprises $ - $ - $ -
Other - - -
---------------------------------------
- - -
Less accumulated depreciation,
depletion and amortization - - -
---------------------------------------
- - -
Construction work-in-progress - - -
---------------------------------------
- - -
---------------------------------------
Investments
Associated companies - (303) -
Enterprises - - 248
---------------------------------------
- (303) 248
---------------------------------------
Current Assets
Cash and temporary cash investments - - 6
Accounts/notes receivable - - -
Accounts/notes receivable-related parties - (80) 1
Materials and supplies - - -
Assets held for sale 13 - 13
Prepayments and other - - -
---------------------------------------
13 (80) 20
---------------------------------------
Non-current Assets
Assets held for sale 2 - 2
Prepaid pension costs - - -
Goodwill - - -
Notes receivable-related parties - - 60
Notes receivable - - -
Deferred income taxes (5) - (5)
Other - - 1
---------------------------------------
(3) - 58
---------------------------------------
Total Assets $ 10 $(383) $ 326
=======================================
(19) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS
GT of Australia Holdings Company consolidated.
WESTERN AUSTRALIA GT CO I
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
Western CMS CMS Compania de
Australia CMS Goldfields International Inversiones
GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy
I (19) SARL BV PTY LTD Svcs. Co. Chile Ltda
Capitalization
Common Stockholders' Equity
Common stock $ 236 $ 1 $ 11 $ - $ 55 $ -
Other paid-in-capital 5 - - 66 - 163
Other comprehensive income (loss) 10 13 14 13 - -
Retained earnings (deficit) (15) - 4 14 9 (4)
------------------------------------------------------------------------------
236 14 29 93 64 159
Long-term debt - - - - - -
Long-term debt-related parties - - - - - -
Non-current capital leases - - - - - -
------------------------------------------------------------------------------
236 14 29 93 64 159
------------------------------------------------------------------------------
Minority Interests - - - - - -
------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term debt - - - - - -
Current capital leases - - - - - -
Notes payable 20 15 64 1 - -
Accounts payable - - - 1 - -
Accounts payable-related parties - - - - - -
Accrued interest - - - - - -
Accrued taxes - - 2 - - -
Liabilities held for sale - - - - - -
Other - - - - - 1
------------------------------------------------------------------------------
20 15 66 2 - 1
------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - -
Other - - - - - -
------------------------------------------------------------------------------
- - - - - -
------------------------------------------------------------------------------
Total Stockholders' Equity and Liabilities $ 256 $ 29 $ 95 $ 95 $ 64 $ 160
==============================================================================
(Continued on Following Page)
WESTERN AUSTRALIA GT CO I
Consolidating Balance Sheet - Equity and Liabilities
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- Western
CMS GT company Australia
of Elimina- GT Co. I
Australia tions Consol.
Capitalization
Common Stockholders' Equity
Common stock $ 67 $(134) $ 236
Other paid-in-capital (18) (211) 5
Other comprehensive income (loss) (3) (37) 10
Retained earnings (deficit) (39) 16 (15)
---------------------------------------
7 (366) 236
Long-term debt - - -
Long-term debt-related parties - - -
Non-current capital leases - - -
---------------------------------------
7 (366) 236
---------------------------------------
Minority Interests - 63 63
---------------------------------------
Current Liabilities
Current portion of long-term debt - - -
Current capital leases - - -
Notes payable - (80) 20
Accounts payable - - 1
Accounts payable-related parties - - -
Accrued interest - - -
Accrued taxes 1 - 3
Liabilities held for sale 2 - 2
Other - - 1
---------------------------------------
3 (80) 27
---------------------------------------
Non-current Liabilities
Postretirement benefits - - -
Other - - -
---------------------------------------
- - -
---------------------------------------
Total Stockholders' Equity and Liabilities $ 10 $(383) $ 326
=======================================
(19) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS
GT of Australia Holdings Company consolidated.
CMS ENERGY CORPORATION
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
Consumers CMS Inter- CMS
Energy Enterprises company Energy
CMS Energy Company Company Elimina- Corporation
Corp. (1) Consol. Consol. tions Consol.
Balance at January 1, 2003 $(1,806) $ 545 $(2,366) $ 1,827 $(1,800)
Net Income (Loss) (27) 196 4 (204) (31)
Less Dividends Paid
Common Stock - - - - -
Preferred Stock 1 2 - - 3
Preferred Securities Distributions 10 - - - 10
Associated Companies - 218 133 (351) -
--------------------------------------------------------------------------------
11 220 133 (351) 13
--------------------------------------------------------------------------------
Balance at December 31, 2003 $(1,844) $ 521 $(2,495) $ 1,974 $(1,844)
================================================================================
(1) Represents CMS Energy Corporation with Consumers Energy Company and CMS
Enterprises Company included on the equity method of accounting.
CONSUMERS ENERGY COMPANY
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS Inter- Consumers
Consumers Midland CMS company Energy
Energy Holdings Midland Elimina- Company
Company (2) Company Inc. tions Consol.
Balance at January 1, 2003 $ 545 $ 31 $ 171 $(202) $ 545
Net Income (Loss) 196 2 18 (20) 196
Less Dividends Paid
Common Stock - - - - -
Preferred Stock 2 - - - 2
Preferred Securities Dist. - - - - -
Associated Companies 218 - - - 218
---------------------------------------------------------------------
220 - - - 220
---------------------------------------------------------------------
Balance at December 31, 2003 $ 521 $ 33 $ 189 $(222) $ 521
=====================================================================
(2) Represents Consumers Energy Company, Consumers Receivables Funding LLC,
Consumers Receivables Funding II LLC, Consumers Funding LLC, Consumers Campus
Holdings LLC, CMS Engineering Company, ES Services Company, Consumers Nuclear
Services LLC, Consumers Parnell Holdings LLC and Consumers EnergyGuard Services,
Inc. consolidated with CMS Midland Holdings Company and CMS Midland, Inc.
included on the equity method of accounting.
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS CMS Gas CMS CMS CMS
CMS Generation Transmission Energy Int'l CMS Technology
Enterprises Co. Company Resource Mgt. Vent. LLC Capital Companies
Co. (3) (5) Consol. Consol. Company Consol. LLC (4)
Balance at January 1, 2003 $(2,392) $(1,090) $ (565) $ (106) $ (38) $ 15 $ (36)
Net Income (Loss) 22 83 3 (58) 46 14 -
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies 133 85 110 - 6 14 -
------------------------------------------------------------------------------------------------
133 85 110 - 6 14 -
------------------------------------------------------------------------------------------------
Balance at December 31, 2003 $(2,503) $(1,092) $ (672) $ (164) $ 2 $ 15 $ (36)
================================================================================================
(Continued on Following Page)
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS CMS Inter- CMS
Resource Business CMS CMS company Enterprises
Development Development Texas Land Elimina- Company
Company LLC LLC Company (5) tions Consol.
Balance at January 1, 2003 $ (1) $ 1 $ - $ (20) $ 1,866 $(2,366)
Net Income (Loss) - - (3) 1 (104) 4
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated Companies - - - - (215) 133
----------------------------------------------------------------------------------------
- - - - (215) 133
----------------------------------------------------------------------------------------
Balance at December 31, 2003 $ (1) $ 1 $ (3) $ (19) $ 1,977 $(2,495)
========================================================================================
(3) Represents CMS Enterprises Company, CMS Land Company, CMS Comercializadora
de Energia SA, CMS Enterprises Holding Company SA, CMS Energy South America
Company and CMS Energy Asia Private Limited consolidated with CMS Generation
Co., CMS Gas Transmission Company, CMS Energy Resource Management Company, CMS
International Ventures LLC, CMS Capital LLC, CMS Resource Development Company,
CMS Energy UK Limited, CMS Business Development LLC and CMS Texas LLC included
on the equity method of accounting.
(4) Includes CMS MicroPower Systems LLC, CMS Distributed Power LLC and CMS
Enterprises Development LLC.
(5) The ending Retained Earnings of CMS Land was included in CMS Enterprises'
stand-alone Retained Earnings on the Consolidating Balance Sheet - Equity and
Liabilities ($20).
CMS GENERATION CO.
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
TES Genesee Grayling Dearborn Dearborn
CMS Filer City Power Generating Industrial Generating Exeter
Generation LP LP LP Generation Operating Energy
Co. (6) Consol. Consol. Consol. LLC LLC LP
Balance at January 1, 2003 $(1,122) $ 13 $ (12) $ (8) $ (536) $ 1 $ 31
Net Income (Loss) 83 1 (1) - (7) - (1)
Less Dividends Paid
Common Stock - - - - - - -
Associated Companies 85 - - - - - -
------------------------------------------------------------------------------------------------
85 - - - - - -
------------------------------------------------------------------------------------------------
Balance at December 31, 2003 $(1,124) $ 14 $ (13) $ (8) $ (543) $ 1 $ 30
================================================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
(Continued from Previous Page)
Taweelah CMSG CMSG CMSG CMSG CMSG CMSG
A2 Michigan Int'l Investment Investment Investment Honey
Operating Power Operating Co. IV Co. VI Co. VII Lake
Company LLC Co. Consol. Consol. Consol. Consol. Company
Balance at January 1, 2003 $ 1 $ (66) $ 17 $ 274 $ 44 $ (30) $ (7)
Net Income (Loss) 1 (2) 5 3 1 11 1
Less Dividends Paid
Common Stock - - - - - - -
Associated Companies - - - - - - -
---------------------------------------------------------------------------
- - - - - - -
---------------------------------------------------------------------------
Balance at December 31, 2003 $ 2 $ (68) $ 22 $ 277 $ 45 $ (19) $ (6)
===========================================================================
(Continued on Following Page)
CMS GENERATION CO.
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
(Continued from Previous Page)
HYDRA-CO Inter- CMS
Enterprises, CMSG CMSG CMSG company Generation
Inc. Investment Altoona Recycling Elimina- Co.
Consol. Co. I Company Company tions Consol.
Balance at January 1, 2003 $ (163) $ (51) $ 6 $ (3) $ 521 $ (1,090)
Net Income (Loss) 7 76 - - (95) 83
Less Dividends Paid
Common Stock - - - - - -
Associated Companies - 25 - - (25) 85
----------------------------------------------------------------------
- 25 - - (25) 85
----------------------------------------------------------------------
Balance at December 31, 2003 $ (156) $ - $ 6 $ (3) $ 451 $ (1,092)
======================================================================
(6) Represents CMS Generation Company, CMSG Chateaugay Company, CMSG Filer City
Operating Company, Exeter Management Company and CMSG Operating Company
consolidated with CMSG Filer City, Inc., CMSG Genesee Company, CMSG Holdings
Company, CMSG Grayling Company, CMSG Grayling Holdings Company, CMS
International Operating Company, CMSG Investment Company IV, CMSG Investment
Company VI, CMSG Investment Company VII and HYDRA-CO Enterprises, Inc. included
on the equity method of accounting.
TES FILER CITY STATION LP
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
TES Inter- TES
CMSG Filer City company Filer City
Filer City Station Elimina- LP
Inc. LP tions Consol.
Balance at January 1, 2003 $ 13 $ - $ - $ 13
Net Income (Loss) 1 2 (2) 1
Less Dividends Paid
Common Stock - - - -
Associated Companies - - - -
----------------------------------------------------------
- - - -
----------------------------------------------------------
Balance at December 31, 2003 $ 14 $ 2 $(2) $ 14
==========================================================
GENESEE POWER STATION LP
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
Genesee Inter- Genesee
CMSG CMSG Power company Power
Genesee Holdings Station Elimina- LP
Company Co. (7) LP tions Consol.
Balance at January 1, 2003 $ - $ (13) $ 1 $ - $ (12)
Net Income (Loss) - - (1) - (1)
Less Dividends Paid
Common Stock - - - - -
Associated Companies - - - - -
---------------------------------------------------------
- - - - -
---------------------------------------------------------
Balance at December 31, 2003 $ - $ (13) $ - $ - $ (13)
=========================================================
(7) Includes GPS Newco LLC.
GRAYLING GENERATING STATION LP
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG Grayling Inter- Grayling
CMSG Grayling Generating company Generating
Grayling Holdings Station Elimina- LP
Company Company LP tions Consol.
Balance at January 1, 2003 $ (4) $ (4) $ - $ - $ (8)
Net Income (Loss) - - 1 (1) -
Less Dividends Paid
Common Stock - - - - -
Associated Companies - - - - -
----------------------------------------------------------------
- - - - -
----------------------------------------------------------------
Balance at December 31, 2003 $ (4) $ (4) $ 1 $ (1) $ (8)
================================================================
CMS INT'L OPERATING COMPANY
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS CMS CMS CMS Inter- CMS
Int'l UK Jorf Morocco India O&M company Int'l
Operating Oper. Pvt. Lasfar Oper. Co. Co. Pvt. Elimina- Operating
Co. (8) Limited Aktiebolag SCA Limited tions Consol.
Balance at January 1, 2003 $ 17 $ (7) $ (7) $ 3 $ - $ 11 $ 17
Net Income (Loss) 5 6 5 5 1 (17) 5
Less Dividends Paid
Common Stock - - - - - - -
Associated Companies 1 - (4) 4 1 (2) -
---------------------------------------------------------------------------------------
1 - (4) 4 1 (2) -
---------------------------------------------------------------------------------------
Balance at December 31, 2003 $ 21 $ (1) $ 2 $ 4 $ - $ (4) $ 22
=======================================================================================
(8) Represents CMS International Operating Company and CMSG Jorf Lasfar III LDC
consolidated.
CMSG INVESTMENT COMPANY IV
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG CMSG CMSG Inter- CMSG
Investment Luxembourg Investment company Investment
Company II SARL Co. II Elimina- Co. IV
IV (9) Consol. Consol. tions Consol.
Balance at January 1, 2003 $ 274 $ 41 $ 1 $ (42) $ 274
Net Income (Loss) 3 26 1 (27) 3
Less Dividends Paid
Common Stock - - - - -
Associated Companies - - 1 (1) -
-----------------------------------------------------------------------------------
- - 1 (1) -
-----------------------------------------------------------------------------------
Balance at December 31, 2003 $ 277 $ 67 $ 1 $ (68) $ 277
===================================================================================
(9) Represents CMSG Investment Company IV consolidated with CMSG Luxembourg II
SARL and CMSG Investment Company II included on the equity method of
accounting.
CMSG LUXEMBOURG II SARL
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
Jorf Jorf Inter- CMSG
CMSG CMSG CMSG Lasfar Lasfar company Luxembourg
Luxembourg Luxembourg Netherlands Energlak- Power Energy Elimina- II SARL
II SARL SARL BV tiebolag Aktiebolag tions Consol.
Balance at January 1, 2003 $ 41 $ 73 $ 73 $ 38 $ 36 $ (220) $ 41
Net Income (Loss) 26 28 27 12 11 (78) 26
Less Dividends Paid
Common Stock - - - - - - -
Associated Companies - 31 30 54 50 (165) -
-----------------------------------------------------------------------------------------------
- 31 30 54 50 (165) -
-----------------------------------------------------------------------------------------------
Balance at December 31, 2003 $ 67 $ 70 $ 70 $ (4) $ (3) $ (133) $ 67
===============================================================================================
CMSG INVESTMENT CO II
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG CMSG CMSG Inter- CMSG
Investment Jorf Jorf Jorf company Investment
Company Lasfar Lasfar Lasfar Elimina- Co. II
II LDC I LDC II Handelsbolag tions Consol.
Balance at January 1, 2003 $ 1 $ 65 $ (90) $ (3) $ 28 $ 1
Net Income (Loss) 1 1 1 1 (3) 1
Less Dividends Paid
Common Stock - - - - - -
Associated Companies 1 1 1 1 (3) 1
----------------------------------------------------------------------------------
1 1 1 1 (3) 1
----------------------------------------------------------------------------------
Balance at December 31, 2003 $ 1 $ 65 $ (90) $ (3) $ 28 $ 1
==================================================================================
CMSG INVESTMENT CO VI
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG CMS Inter- CMSG
Investment Takoradi company Investment
Company Invest. Co. Elimina- Co. VI
VI (10) Consol. tions Consol.
Balance at January 1, 2003 $ 44 $ 6 $ (6) $ 44
Net Income (Loss) 1 14 (14) 1
Less Dividends Paid
Common Stock - - - -
Associated Companies - 10 (10) -
-----------------------------------------------------------------
- 10 (10) -
-----------------------------------------------------------------
Balance at December 31, 2003 $ 45 $ 10 $ (10) $ 45
=================================================================
(10) Represents CMSG Investment Company VI with CMSG Takoradi Investment Company
included on the equity method of accounting..
CMS TAKORADI INVESTMENT CO.
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS CMS Inter- CMS
Takoradi Takoradi Takoradi company Takoradi
Investment Investment International Elimina- Invest. Co.
Company Company II Company tions Consol.
Balance at January 1, 2003 $ 6 $ 6 $ 6 $ (12) $ 6
Net Income (Loss) 14 14 16 (30) 14
Less Dividends Paid
Common Stock - - - - -
Associated Companies 10 10 11 (21) 10
--------------------------------------------------------------------------------------
10 10 11 (21) 10
--------------------------------------------------------------------------------------
Balance at December 31, 2003 $ 10 $ 10 $ 11 $ (21) $ 10
======================================================================================
CMSG INVESTMENT CO VII
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG CMS Inter- CMSG
Investment CMSG Jabail company Investment
Company Taweelah Investment Elimina- Co. VII
VII Limited Company I tions Consol.
Balance at January 1, 2003 $ (30) $ (28) $ - $ 28 $ (30)
Net Income (Loss) 11 18 (11) (7) 11
Less Dividends Paid
Common Stock - - - - -
Associated Companies - 9 - (9) -
-------------------------------------------------------------------------------------
- 9 - (9) -
-------------------------------------------------------------------------------------
Balance at December 31, 2003 $ (19) $ (19) $ (11) $ 30 $ (19)
=====================================================================================
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG HCE Inter- HYDRA-CO
HYDRA-CO Operating CMSG Rockport company Enterprises,
Enterprises, Company Stratton Diesel, Elimina- Inc.
Inc. (11) II Company Inc. tions Consol.
Balance at January 1, 2003 $ (163) $ (2) $ (20) $ 1 $ 21 $ (163)
Net Income (Loss) 7 1 - 5 (6) 7
Less Dividends Paid
Common Stock - - - - - -
Associated Companies - - - - - -
------------------------------------------------------------------------------------
- - - - - -
------------------------------------------------------------------------------------
Balance at December 31, 2003 $ (156) $ (1) $ (20) $ 6 $ 15 $ (156)
====================================================================================
(11) Represents HYDRA-CO Enterprises, Inc., HCE Biopower, Inc., HCO-Jamaica,
Inc., HCE Jamaica Development, Inc. and New Bern Energy Recovery, Inc.
consolidated.
CMS GAS TRANSMISSION COMPANY
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS Gas CMS CMS CMS CMS
Transmission Energy CMS Gas Antrim Grand Bay Area CMS
Company Investment Argentina Gas Lacs Pipeline Jackson
(12) LLC Consol. Company LLC LLC LLC LLC
Balance at January 1, 2003 $ (565) $ - $ 51 $ (9) $ (3) $ (4) $ (2)
Net Income (Loss) 3 - - 9 3 4 2
Less Dividends Paid
Common Stock - - - - - - -
Associated Companies 110 - - - - - -
---------------------------------------------------------------------------------------
110 - - - - - -
---------------------------------------------------------------------------------------
Balance at December 31, 2003 $ (672) $ - $ 51 $ - $ - $ - $ -
=======================================================================================
(Continued on Following Page)
CMS GAS TRANSMISSION COMPANY
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS Panhandle CMS CMS Inter- CMS Gas
Marysville Eastern Field Saginaw Bay company Transmission
Gas Liquids Pipe Line Services Lateral Elimina- Company
Company Company Inc. Co. (13) tions Consol.
Balance at January 1, 2003 $ 3 $ (65) $ 4 $ (8) $ 33 $ (565)
Net Income (Loss) (3) 65 (4) - (76) 3
Less Dividends Paid
Common Stock - - - - - -
Associated Companies - - - - - 110
--------------------------------------------------------------------------------------
- - - - - 110
--------------------------------------------------------------------------------------
Balance at December 31, 2003 $ - $ - $ - $ (8) $(43) $ (672)
======================================================================================
(12) Represents CMS Gas Transmission Company, CMS Saginaw Bay Lateral Company
and CMS Litchfield LLC consolidated.
(13) Includes $(5) balance of CMS TriState Canada General Company (no other
existing balance at December 31, 2003).
CMS ENERGY INVESTMENT LLC
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS Loy Yang CMSG CMS CMS CMS
Energy Holdings Investment Antrim Grand Bay Area CMS
Investment No. 1-4 Company I Gas Lacs Pipeline Jackson
LLC (14) LLC Consol. LLC LLC LLC LLC
Balance at January 1, 2003 $ - $ - $ (159) $ 4 $ (10) $ (4) $ -
Net Income (Loss) - - - - - - -
Less Dividends Paid
Common Stock - - - - - - -
Associated Companies - - - 4 4 4 1
-------------------------------------------------------------------------------------
- - - 4 4 4 1
-------------------------------------------------------------------------------------
Balance at December 31, 2003 $ - $ - $ (159) $ - $ (14) $ (8) $(1)
=====================================================================================
(Continued on Following Page)
CMS ENERGY INVESTMENT LLC
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- CMS
company Energy
Elimina- Investment
tions LLC Consol.
Balance at January 1, 2003 $ 169 $ -
Net Income (Loss) - -
Less Dividends Paid
Common Stock - -
Associated Companies (13) -
------------------------
(13) -
------------------------
Balance at December 31, 2003 $ 182 $ -
========================
(14) Represents CMS Energy Investment LLC with CMSG Investment Company I
included on the equity method of accounting.
CMSG INVESTMENT CO I
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG CMSG Inter- CMSG
Investment Loy Yang company Investment
Company Holdings 1-2 Elimina- Company I
I (15) ltd. Consol. tions Consol.
Balance at January 1, 2003 $ (159) $ (435) $ 435 $ (159)
Net Income (Loss) - (1) 1 -
Less Dividends Paid
Common Stock - - - -
Associated Companies - - - -
-------------------------------------------------------------------
- - - -
-------------------------------------------------------------------
Balance at December 31, 2003 $ (159) $ (436) $ 436 $ (159)
===================================================================
(15) Represents CMSG Investment Company I with CMSG Loy Yang Holdings 1 and 2
Ltd. included on the equity method of accounting.
CMSG LOY YANG HOLD 1-2 LTD.
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG Horizon CMSG CMSG Inter- CMSG
Loy Yang Energy Loy Yang Horizon company Loy Yang
Holdings Holdings Holdings Energy Elimina- Holdings 1-2
1 Ltd. Ltd. 2 Ltd. Holding Ltd. tions ltd. Consol.
Balance at January 1, 2003 $ (215) $ (215) $ (220) $ (220) $ 435 $ (435)
Net Income (Loss) (1) (1) - - 1 (1)
Less Dividends Paid
Common Stock - - - - - -
Associated Companies - - - - - -
----------------------------------------------------------------------------------
- - - - - -
----------------------------------------------------------------------------------
Balance at December 31, 2003 $ (216) $ (216) $ (220) $ (220) $ 436 $ (436)
==================================================================================
CMS INT'L VENTURES LLC
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS CMSG CMS Western
CMS Operating Invest. Electric & Gas Australia CMSG CMS
Int'l Ventures SRL Co. III LLC GT Co. I Invest. Generation
LLC (16) Consol. Consol. Consol. Consol. Co. V SRL
Balance at January 1, 2003 $ (38) $ (4) $ 18 $ (320) $ 23 $ 1 $ (31)
Net Income (Loss) 46 1 (2) 62 (23) 6 -
Less Dividends Paid
Common Stock - - - - - - -
Associated Companies 6 - - - 15 - -
------------------------------------------------------------------------------------------
6 - - - 15 - -
------------------------------------------------------------------------------------------
Balance at December 31, 2003 $ 2 $ (3) $ 16 $ (258) $ (15) $ 7 $ (31)
==========================================================================================
(Continued on Following Page)
CMS INT'L VENTURES LLC
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
(Continued from Previous Page)
CMS Inter- CMS Int'l
Int'l Ventures company Ventures
LLC Elimina- LLC
Branch tions Consol.
Balance at January 1, 2003 $ (1) $ 314 $ (38)
Net Income (Loss) (2) (42) 46
Less Dividends Paid
Common Stock - - -
Associated Companies - (15) 6
-------------------------------------------------
- (15) 6
-------------------------------------------------
Balance at December 31, 2003 $ (3) $ 287 $ 2
=================================================
(16) Represents CMS International Ventures LLC with CMS Operating SRL, CMSG
Investment Company III, CMS Electric & Gas LLC and Western Australia GT Company
I included on the equity method of accounting.
CMS OPERATING SRL
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
Inter-
CMS Centrales CMS Company CMS
Operating Termicas Ensenada Elimina- Operating
SRL (17) Mendoza SA SA tions SRL Consol.
Balance at January 1, 2003 $ (4) $ 2 $ (5) $ 3 $ (4)
Net Income (Loss) 1 1 5 (6) 1
Less Dividends Paid
Common Stock - - - - -
Associated Companies - - - - -
--------------------------------------------------------------------------------
- - - - -
--------------------------------------------------------------------------------
Balance at December 31, 2003 $ (3) $ 3 $ - $(3) $ (3)
================================================================================
(17) Represents CMS Operating SRL and Cuyana S.A. de Inversiones consolidated.
CMSG INVESTMENT CO III
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMSG CMSG Jegurupadu Inter- CMSG
Investment Jegurupadu CMSG CMSG Company Investment
Company O&M Co. Company Neyveli Elimina- Co. III
III (18) Mauritius Limited Limited tions Consol.
Balance at January 1, 2003 $ 18 $ 1 $ 9 $ - $ (10) $ 18
Net Income (Loss) (2) - (3) 1 2 (2)
Less Dividends Paid
Common Stock - - - - - -
Associated Companies - - - - - -
-------------------------------------------------------------------------------
- - - - - -
-------------------------------------------------------------------------------
Balance at December 31, 2003 $ 16 $ 1 $ 6 $ 1 $ (8) $ 16
===============================================================================
(18) Represents CMSG Investment Company III, CMSG Jegurupadu I LDC, CMSG
Jegurupadu II LDC and CMS Energy Mauritius Limited consolidated.
CMS ELECTRIC & GAS LLC
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
CMS Sistema Companhia Inter- CMS
Electric Electrico del CMS CMS CMS Paulista Company Electric &
& Gas Estado Nueva Venezuela, Distribuidora Participacoes de Energia Elimina- Gas LLC
LLC (19) Esparta CA Inc. Ltda. Ltda. Eletrica tions Consol.
Balance at January 1, 2003 $ (320) $ (38) $ (46) $ (99) $ (81) $ 30 $ 234 $ (320)
Net Income (Loss) 62 (17) (35) 92 (2) 10 (48) 62
Less Dividends Paid
Common Stock - - - - - - - -
Associated Companies - - - - - - - -
--------------------------------------------------------------------------------------------------
- - - - - - - -
--------------------------------------------------------------------------------------------------
Balance at December 31, 2003 $ (258) $ (55) $ (81) $ (7) $ (83) $ 40 $ 186 $ (258)
==================================================================================================
(19) Represents CMS Electric & Gas, LLC, ENELMAR SA and CMS Comercializadora de
Energia Ltda. consolidated.
WESTERN AUSTRALIA GT CO I
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
Western CMS CMS Compania de
Australia CMS Goldfields International Inversiones
GT Co. Luxembourg Valandrid GT Australia Finance CMS Energy
I (20) SARL BV PTY LTD Svcs. Co. Chile Ltda
Balance at January 1, 2003 $ 23 $ (6) $ (3) $ 5 $ 8 $ (12)
Net Income (Loss) (23) 6 7 15 6 8
Less Dividends Paid
Common Stock - - - - - -
Associated Companies 15 - - 6 5 -
----------------------------------------------------------------------------------------
15 - - 6 5 -
----------------------------------------------------------------------------------------
Balance at December 31, 2003 $ (15) $ - $ 4 $ 14 $ 9 $ (4)
========================================================================================
(Continued on Following Page)
WESTERN AUSTRALIA GT CO I
Consolidating Statement of Retained Earnings
December 31, 2003
(In Millions)
(Continued from Previous Page)
Inter- Western
CMS GT company Australia
of Elimina- GT Co. I
Australia tions Consol.
Balance at January 1, 2003 $ 2 $ 6 $ 23
Net Income (Loss) (41) (1) (23)
Less Dividends Paid
Common Stock - - -
Associated Companies - (11) 15
----------------------------------------------
- (11) 15
----------------------------------------------
Balance at December 31, 2003 $ (39) $ 16 $ (15)
==============================================
(20) Represents Western Australia GT Company I, CMS GT del Sur Company and CMS
GT of Australia Holdings Company consolidated.
EXHIBIT B
Organizational charts showing the relationship of each Exempt Wholesale
Generator to associate companies in the holding company system.
CENTRALES TERMICAS MENDOZA S.A.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
* * *
* * *
* 40.47% *
* CMS Gas Transmission Company
* *
* * *
CMS Generation Co. * *
* * * 37.01%
* * * *
* * * * *
* 21.02% * *
* * * *
* * *
* CMS International Ventures, L.L.C.
* *
* *
99% 99.999%
* *
* *
CMS Centrales Termicas S.A. CMS Operating, S.R.L.
* *
* *
1% 99%
* *
* *
Cuyana S.A. de Inversiones
*
92.6%
*
Centrales Termicas Mendoza S.A.
CENTRALES TERMICAS SAN NICOLAS, S.A.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
0.1%
*
CMS Generation San Nicolas Company
*
0.1%
*
Inversora de San Nicolas, S.A.
*
88%
*
Centrales Termicas San Nicolas, S.A.
CMS DISTRIBUTED POWER, L.L.C.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Distributed Power, L.L.C.
CMS ENSENADA S.A.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
* * *
* * *
40.47% * *
* CMS Gas Transmission Company *
* * *
* 37.01% CMS Generation Co.
* * * *
* * * *
* * 21.02% *
* * * *
CMS International Ventures, L.L.C. *
* *
* *
99.999% *
* *
* *
CMS Operating, S.R.L. CMS Generation Holdings Company
* *
* *
99% 1%
* *
* *
CMS Ensenada S.A.
CMS GENERATION MICHIGAN POWER L.L.C.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Michigan Power L.L.C.
CMS GENERATION OPERATING COMPANY
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Operating Company
CMS (INDIA) OPERATIONS & MAINTENANCE COMPANY PRIVATE LIMITED
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
* *
* *
CMS International Operating Company CMS Generation Investment Company VII
* *
99% 1%
* *
CMS (India) Operations & Maintenance Company Private Limited
CMS MOROCCO OPERATING CO., S.C.A.
(EWG)
AND
CMS INTERNATIONAL OPERATING COMPANY
(EWG)
CMS Energy Corporation
*
CMS Enterprises Company
*
*
* * * CMS Generation Co. * * * *
* * * * * *
* * * * *
* 14% 14% 14% 14%
* * * * *
* Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings
* No. 1 LLC No. 2 LLC No. 3 LLC No. 4 LLC
* * * * *
* 50% 50% 50% 50%
* * * * *
Loy Yang Holdings Unit Trust No. 3 Lot Yang Holdings Unit Trust No. 2
* * *
50% 50%
* * *
* CMS Generation Investment Company I
* * *
* *
* * *
* CMS Generation Investment Company IV *
* *
* * *
CMS International Operating Company * *
* * * * *
* * * *
CMS Generation UK Operating * 50% *
Private Limited * * *
* * * *
* * * .1%
* * CMS Generation Jorf Lasfar III Limited Duration Company *
Jorf Lasfar Aktiebolag * * *
* * *
* *
99.7% .1% .1% *
* * * *
* * * *
CMS Morocco Operating Co., S.C.A.
DEARBORN GENERATION OPERATING, L.L.C.
(EWG)
AND
DEARBORN INDUSTRIAL GENERATION, L.L.C.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
Dearborn Generation Operating, L.L.C. Dearborn Industrial Energy, L.L.C.
*
*
*
Dearborn Industrial Generation, L.L.C.
EXETER ENERGY LIMITED PARTNERSHIP
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* * *
* * *
* * *
* Exeter Management Company *
Oxford/CMS Development LP * 50%
* * *
48% 2% *
* * *
* * *
Exeter Energy Limited Partnership
GVK INDUSTRIES LIMITED
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
* * *
* * *
* * *
* CMS Gas Transmission Company CMS Generation Co.
* * *
* * *
40.47% 37.01% 21.02%
* * *
* * *
* * CMS International Ventures, L.L.C.**
*
*
CMS Generation Investment Company III
*
*
Jegurupadu CMS Generation Company Ltd.
*
23.75%
*
GVK Industries Limited
HIDROELECTRICA EL CHOCON, S.A.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
* * *
* * *
* * *
* CMS Gas Transmission Company CMS Generation Co.
* * * * *
* * * * *
40.47% 37.01% 21.02% * *
* * * * *
* * * * *
CMS International Ventures, L.L.C. * *
* * *
* CMS Generation Holdings Company *
99.99% * *
* .01% *
* * *
CMS Generation S.R.L. *
* * *
* * *
* 25% *
* *
2.48% * 2.48%
Hidroinvest S.A. *
* * *
* *
* 59% *
* *
* * *
Hidroelectrica El Chocon, S.A.
JAMAICA PRIVATE POWER COMPANY, LIMITED
(EWG)
AND
PRIVATE POWER OPERATORS LIMITED
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
HYDRA-CO Enterprises, Inc.
* *
* *
* *
CMS Generation Operating Company II, Inc. HCE-Rockfort Diesel, Inc.
* * *
* * 45.07%
* * *
HCO-Jamaica, Inc. * Jamaica Private Power
* 1% Company, Limited
* *
99% *
* *
* *
Private Power Operators Limited*
JEGURUPADU OPERATING AND MAINTENANCE CO.
(EWG)
CMS Energy Corporation
*
CMS Enterprises Company
* * *
* * *
* * *
CMS Gas Transmission Company * CMS Generation Co.
* * * *
* 40.47% * *
37.01% * * *
* * 21.02% *
* * * *
CMS International Ventures, L.L.C. CMS Investment Company IV
* *
* *
* *
CMS Generation Investment Company III CMS Generation Investment Company II
* * * *
* * * *
99% * 1%
* * *
* 1% 99% *
* * *
CMS Generation Jegurupadu I CMS Generation Jegurupadu II
Limited Duration Company Limited Duration Company
* *
* *
50% 50%
* *
* *
Jegurupadu O&M Company Mauritius
*
60%
*
Jegurupadu Operating and Maintenance Co.
JORF LASFAR ENERGY COMPANY
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Company IV****************
* * * *
* * * *
CMS Generation Luxembourg II S.A.R.L. * * *
* * * *
* * * *
CMS Generation Luxembourg S.A.R.L. * CMS Generation Investment Company II *
* * * * *
* 35% 65% 65% 35%
* * * * *
CMS Generation Netherlands B.V. * * CMS Generation Jorf Lasfar I
* * * * Limited Duration Company
* * * * *
* * CMS Generation Jorf Lasfar II *
* Limited Duration Company 50%
* * * *
* * 50% *
* * *
Jorf Lasfar Power Jorf Lasfar Energiaktiebolag Jorf Lasfar Handelsbolag
Energy Aktiebolag
* * *
23% 25% 2%
* * *
* * *
*************Jorf Lasfar Energy Company************
JUBAIL ENERGY COMPANY
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Company VII
*
*
*
CMS Jubail Investment Company I
*
*
25%
*
*
Jubail Energy Company
SHUWEIHAT CMS INTERNATIONAL POWER COMPANY
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Company VII
* *
* *
50% *
* *
* *
Shuweihat General Partner Company 49.5%
* *
* *
1% *
* *
* *
Shuweihat Limited Partnership
*
*
40%
*
*
Shuweihat CMS International Power Company
SHUWEIHAT O&M LIMITED PARTNERSHIP
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Company VII
* *
* *
50% *
* *
* *
Shuweihat O&M General Partner Company 49.5%
* *
* *
1% *
* *
* *
Shuweihat O&M Limited Partnership
ST-CMS ELECTRIC COMPANY PVT. LTD.
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
* * *
* * *
* * *
CMS Generation Co. * CMS Gas Transmission Company
* * *
21.02% 40.47% 37.01%
* * *
CMS International Ventures, L.L.C.
*
*
*
CMS Generation Investment Company III
*
*
*
CMS Generation Neyveli Ltd.
*
50%
*
ST-CMS Electric Company Pvt. Ltd.
TAKORADI INTERNATIONAL COMPANY
(EWG)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
* *
* *
* *
* *
* *
* *
CMS International Operating Company CMS Generation Investment Company VI
| *
| *
| *
| CMS Takoradi Investment Company
| *
Operator *
| *
| CMS Takoradi Investment Company II
| *
| 90%
| *
Takoradi International Company
Organizational charts showing the relationship of each foreign utility company
to associate companies in the holding company system.
CMS GENERATION HORIZON ENERGY HOLDINGS LTD
(FUCO)
AND
HORIZON ENERGY HOLDINGS LTD
(FUCO)
AND
LOY YANG POWER PARTNERS
(FUCO)
CMS Energy Corporation
*
*
CMS Enterprises Company
*
* *
* *
CMS Generation Co. CMS Gas Transmission Company
* * * * *
* * * * 70%
* * * * *
* * * * CMS Energy Investment L.L.C.
* * * * * * *
14% 14% 14% 14% * * * *
* * * 86% * 86% 86% 86%
* * * * * * *
* * * * * *
* * * * * * *
* * * * * * * *
Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings Loy Yang Holdings
No. 1 LLC No. 2 LLC No. 3 LLC No. 4 LLC
* * * *
* * * *
50% 50% 50% 50%
* * * *
Loy Yang Holdings Unit Trust No. 3 Loy Yang Holdings Unit Trust No. 2
* *
* *
50% 50%
* *
CMS Generation Investment Company I
* *
* *
* *
CMS Generation Loy Yang Holdings 2 Ltd. CMS Generation Loy Yang Holdings 1 Ltd.
* *
* *
CMS Generation Horizon Energy Holdings Ltd. Horizon Energy Holdings Ltd.
* *
25% 24.63%
* *
Loy Yang Power Partners
CMS OPERATING, S.R.L.
(FUCO)
CMS ENERGY CORPORATION
*
*
*
CMS ENTERPRISES COMPANY
* * *
* * *
* * *
* * *
CMS Generation Co. * CMS Gas Transmission Company
* * * *
* * * *
* 21.02% 40.47% 37.01%
CMS Generation Holdings Company * * *
* * * *
* * * *
* CMS International Ventures, L.L.C.
* *
* *
.001% 99.999%
* *
* *
CMS Operating, S.R.L.
COMPANHIA PAULISTA DE ENERGIA ELECTRICA S.A. (CPEE)
(FUCO)
AND
COMPANHIA SUL PAULISTA DE ENERGIA S.A. (CSPE)
(FUCO)
AND
COMPANHIA JAGUARI DE ENERGIA S.A. (CJE)
(FUCO)
AND
COMPANHIA LUZ E FORCA DE MOCOCA S.A. (CLFM)
(FUCO)
CMS Energy Corporation
*
CMS Enterprises Company
* * *
40.47% * *
* CMS Gas Transmission Company *
* * *
* 37.01% CMS Generation Co.
* * *
* * 21.02%
* * *
CMS International Ventures, L.L.C.
*
*
CMS Electric & Gas, L.L.C.
*
99.99%
*
CMS Distribuidora, Ltda.
*
99.99%
*
CMS Participacoes Ltda.
*
93.86%
*
CPEE
*
88.63%
*
CSPE
*
*
CJE
*
*
CLFM
EMIRATES CMS POWER COMPANY
(FUCO)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Company VII
*
*
*
CMS Generation Taweelah Limited
*
40%
*
Emirates CMS Power Company
SISTEMA ELECTRICO DEL ESTADO NUEVA ESPARTA C.A. (SENECA)
(FUCO)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
* * *
* * *
* * *
* CMS Gas Transmission Company CMS Generation Co.
* * *
* * *
40.47% 37.01% 21.02%
* * *
* * *
CMS International Ventures, L.L.C.
*
*
*
CMS Electric & Gas, L.L.C.
* *
* *
* CMS Venezuela S.A.
* *
* *
ENELMAR, SA 52.37%
* *
33.34% *
* *
SENECA
TAWEELAH A2 OPERATING COMPANY
(FUCO)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
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Taweelah A2 Operating Company