1998

1997

1996

1995

1994

Operating revenue (in millions)

($)

5,141

4,781

4,324

3,890

3,614

Consolidated net income (in millions)

($)

285

244

224

195

177

Average common shares outstanding (in thousands)

CMS Energy

102,446

96,144

92,462

88,810

85,888

Class G

8,333

8,015

7,727

7,511

-

Earnings per average common share

CMS Energy - Basic

($)

2.65

2.39

2.27

2.16

2.07

CMS Energy - Diluted

($)

2.62

2.37

2.26

2.16

2.06

Class G - Basic and Diluted

($)

1.56

1.84

1.82

.38

-

Cash from operations (in millions)

($)

516

624

647

640

603

Capital expenditures, excludes capital lease additions and DSM (in millions)

($)

1,295

678

643

508

575

Total assets (in millions)

($)

11,310

9,508

8,363

7,909

7,159

Long-term debt, excluding current maturities (in millions)

($)

4,726

3,272

2,842

2,906

2,709

Noncurrent portion of capital leases (in millions)

($)

105

75

103

106

108

Total preferred stock (in millions)

($)

238

238

356

356

356

Total Trust Preferred Securities (in millions)

($)

393

393

100

-

-

Cash dividends declared per common share

CMS Energy

($)

1.26

1.14

1.02

.90

.78

Class G

($)

1.27

1.21

1.15

.56

-

Market price of common stock at year-end

CMS Energy

($)

48 7/16

44 1/16

33 5/8

29 7/8

22 7/8

Class G

($)

25 1/4

27 1/8

18 3/8

18 7/8

-

Book value per common share at year-end

CMS Energy

($)

19.61

16.84

15.24

13.51

11.16

Class G

($)

11.46

10.91

11.38

10.60

-

Return on average common equity

(%)

14.2

14.7

15.7

17.1

19.8

Return on assets

(%)

5.5

5.6

5.4

5.2

5.0

Number of employees at year-end (full-time equivalents)

9,710

9,682

9,712

10,105

9,972

Electric Utility Statistics

Sales (billions of kWh)

40.0

37.9

37.1

35.5

34.5

Customers (in thousands)

1,640

1,617

1,594

1,570

1,547

Average sales rate per kWh

(¢)

6.50

6.57

6.55

6.36

6.29

Gas Utility Statistics

Sales and transportation deliveries (bcf)

360

420

448

404

409

Customers (in thousands) ^(a)

1,558

1,533

1,504

1,476

1,448

Average sales rate per mcf

($)

4.56

4.44

4.45

4.42

4.48

International Energy-Related Statistics

CMS Energy's share of unconsolidated independent power production revenue (in millions)

($)

761

621

493

497

385

Independent power production sales (millions of kWh)

19,017

13,126

7,823

7,422

6,216

CMS Energy's share of unconsolidated natural gas transmission, storage and processing revenue (in millions)

($)

67

51

42

26

7

CMS Energy's share of unconsolidated marketing, services and trading revenue

($)

291

202

-

-

-

Gas managed and marketed for end users (bcf)

366

243

108

101

66

Exploration and Production Statistics

Sales (millions of net equivalent barrels)

12.1

11.4

10.1

9.0

5.6

Proved reserves (millions of net equivalent barrels)

182.6

152.0

133.5

124.5

108.0

Proved reserves added (millions of net equivalent barrels) ^(b)

42.7

29.8

18.7

25.6

29.0

Finding cost per net equivalent barrel ^(b)

($)

3.35

2.38

2.94

5.06

5.92