Exhibit 99.2
Selected Financial Information | CMS Energy Corporation | |
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||||||
Operating revenue (in millions) | ($ | ) | 6,303 | 6,018 | 5,256 | 5,314 | 8,433 | |||||||||||||||||
Earnings from equity method investees (in millions) | ($ | ) | 89 | 125 | 115 | 164 | 92 | |||||||||||||||||
Income (loss) from continuing operations (in millions) | ($ | ) | (122 | ) | (133 | ) | 115 | — | (393 | ) | ||||||||||||||
Cumulative effect of change in accounting (in millions) | ($ | ) | — | — | (2 | ) | (24 | ) | 18 | |||||||||||||||
Net income (loss) (in millions) | ($ | ) | (79 | ) | (84 | ) | 121 | (43 | ) | (650 | ) | |||||||||||||
Net income (loss) available to common stockholders (in millions) | ($ | ) | (90 | ) | (94 | ) | 110 | (44 | ) | (650 | ) | |||||||||||||
Average common shares outstanding (in thousands) | 219,857 | 211,819 | 168,553 | 150,434 | 139,047 | |||||||||||||||||||
Net income (loss) from continuing operations per average common share | ||||||||||||||||||||||||
CMS Energy — Basic | ($ | ) | (0.61 | ) | (0.68 | ) | 0.61 | (0.01 | ) | (2.83 | ) | |||||||||||||
— Diluted | ($ | ) | (0.61 | ) | (0.68 | ) | 0.60 | (0.01 | ) | (2.83 | ) | |||||||||||||
Cumulative effect of change in accounting per average common share | ||||||||||||||||||||||||
CMS Energy — Basic | ($ | ) | — | — | (0.01 | ) | (0.16 | ) | 0.13 | |||||||||||||||
— Diluted | ($ | ) | — | — | (0.01 | ) | (0.16 | ) | 0.13 | |||||||||||||||
Net income (loss) per average common share | ||||||||||||||||||||||||
CMS Energy — Basic | ($ | ) | (0.41 | ) | (0.44 | ) | 0.65 | (0.30 | ) | (4.68 | ) | |||||||||||||
— Diluted | ($ | ) | (0.41 | ) | (0.44 | ) | 0.64 | (0.30 | ) | (4.68 | ) | |||||||||||||
Cash provided by (used in) operations (in millions) | ($ | ) | 688 | 599 | 353 | (250 | ) | 614 | ||||||||||||||||
Capital expenditures, excluding acquisitions and capital lease additions (in millions) | ($ | ) | 670 | 593 | 525 | 535 | 747 | |||||||||||||||||
Total assets (in millions) (a) | ($ | ) | 15,371 | 16,041 | 15,872 | 13,838 | 14,781 | |||||||||||||||||
Long-term debt, excluding current portion (in millions) (a) | ($ | ) | 6,202 | 6,780 | 6,417 | 5,985 | 5,315 | |||||||||||||||||
Long-term debt-related parties, excluding current portion (in millions) (b) | ($ | ) | 178 | 178 | 504 | 684 | — | |||||||||||||||||
Non-current portion of capital leases and finance lease obligations (in millions) | ($ | ) | 42 | 308 | 315 | 58 | 116 | |||||||||||||||||
Total preferred stock (in millions) | ($ | ) | 305 | 305 | 305 | 305 | 44 | |||||||||||||||||
Total Trust Preferred Securities (in millions) (b) | ($ | ) | — | — | — | — | 883 | |||||||||||||||||
Cash dividends declared per common share | ($ | ) | — | — | — | — | 1.09 | |||||||||||||||||
Market price of common stock at year-end | ($ | ) | 16.70 | 14.51 | 10.45 | 8.52 | 9.44 | |||||||||||||||||
Book value per common share at year-end | ($ | ) | 10.03 | 10.53 | 10.62 | 9.84 | 7.48 | |||||||||||||||||
Number of employees at year-end (full-time equivalents) | 8,640 | 8,713 | 8,660 | 8,411 | 10,477 | |||||||||||||||||||
Electric Utility Statistics | ||||||||||||||||||||||||
Sales (billions of kWh) | 38 | 39 | 38 | 38 | 38 | |||||||||||||||||||
Customers (in thousands) | 1,797 | 1,789 | 1,772 | 1,754 | 1,734 | |||||||||||||||||||
Average sales rate per kWh | (¢ | ) | 8.46 | 6.73 | 6.88 | 6.91 | 6.88 | |||||||||||||||||
Gas Utility Statistics | ||||||||||||||||||||||||
Sales and transportation deliveries (bcf) | 309 | 350 | 385 | 380 | 376 | |||||||||||||||||||
Customers (in thousands) (c) | 1,714 | 1,708 | 1,691 | 1,671 | 1,652 | |||||||||||||||||||
Average sales rate per mcf | ($ | ) | 10.44 | 9.61 | 8.04 | 6.72 | 5.67 |
(a) | Until their sale in November 2006, we were the primary beneficiary of the MCV Partnership and the FMLP. As a result, we consolidated their assets, liabilities and activities into our consolidated financial statements through the date of sale and for the years ended December 31, 2005 and 2004. These partnerships had third party obligations totaling $482 million at December 31, 2005 and $582 million at December 31, 2004. Property, plant and equipment serving as collateral for these obligations had a carrying value of $224 million at December 31, 2005 and $1.426 billion at December 31, 2004. | |
(b) | Effective December 31, 2003, Trust Preferred Securities are classified on our consolidated balance sheet as Long-term debt — related parties. | |
(c) | Excludes off-system transportation customers. |
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