CENTERPOINT ENERGY INC
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 30, 2024
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(15) Reportable Segments
The Registrants’ determination of reportable segments considers the strategic operating units under which its CODM manages sales, allocates resources and assesses performance of various products and services to wholesale or retail customers in differing regulatory environments. Each Registrant’s CODM views net income as the measure of profit or loss for the reportable segments.
As of March 31, 2024, reportable segments by Registrant were as follows:
CenterPoint Energy’s Electric reportable segment consists of electric transmission and distribution services in the Texas gulf coast area in the ERCOT region and electric transmission and distribution services primarily to southwestern Indiana and includes power generation and wholesale power operations in the MISO region.
CenterPoint Energy’s Natural Gas reportable segment consists of (i) intrastate natural gas sales to, and natural gas transportation and distribution for residential, commercial, industrial and institutional customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas; and (ii) permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies through CEIP.
CenterPoint Energy’s Corporate and Other category consists of energy performance contracting and sustainable infrastructure services through Energy Systems Group through June 30, 2023, the date of the sale of Energy Systems Group, and corporate operations which support all of the business operations of CenterPoint Energy. CenterPoint Energy’s Corporate and Other also includes office buildings and other real estate used for business operations.
Houston Electric’s single reportable segment consists of electric transmission services to transmission service customers in the ERCOT region and distribution services to REPs serving the Texas gulf coast area that includes the city of Houston.
CERC
CERC’s single reportable segment following the Restructuring consisted of (i) intrastate natural gas sales to, and natural gas transportation and distribution for, residential, commercial, industrial and institutional customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas; and (ii) permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies through CEIP.
Financial data for reportable segments is as follows:
| Three Months Ended March 31, | ||||||
|---|---|---|---|---|---|---|
| 2024 · 2023 | ||||||
| Revenues fromExternalCustomers · Net Income (Loss) · Revenues fromExternalCustomers · Net Income | ||||||
| (in millions) | ||||||
| Electric | $1,049 | (1) | $121 | $952 | (1) | $123 |
| Natural Gas | 1,570 | 283 | 1,775 | 234 | ||
| Corporate and Other | 1 | (54) | 52 | (32) | ||
| Consolidated | $2,620 | $350 | $2,779 | $325 | ||
| Total Assets | ||
|---|---|---|
| March 31, 2024 | December 31, 2023 | |
| (in millions) | ||
| Electric | $21,688 | $21,089 |
| Natural Gas | 17,611 | 17,429 |
| Corporate and Other, net of eliminations (1) | 900 | 1,197 |
| Consolidated | $40,199 | $39,715 |
(1)Total assets included pension and other postemployment-related regulatory assets of $379 million and $385 million as of March 31, 2024 and December 31, 2023, respectively.
Houston Electric consists of a single reportable segment; therefore, a tabular reportable segment presentation has not been included.
CERC
CERC consists of a single reportable segment; therefore, a tabular reportable segment presentation has not been included.
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