CENTERPOINT ENERGY INC

For the period ended Mar 31, 2024. Filed Apr 30, 2024.

About this filing

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

CNP$41.24+1.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

CenterPoint Energy Resources Corp. Financial Statements

	Three Months Ended March 31,
	2024	2023
(in millions)
Revenues:
Utility revenues	$1,500	$1,707
Non-utility revenues	12	10
Total	1,512	1,717
Expenses:
Utility natural gas	724	998
Non-utility cost of revenues, including natural gas	1	1
Operation and maintenance	226	218
Depreciation and amortization	127	118
Taxes other than income taxes	64	69
Total	1,142	1,404
Operating Income	370	313
Other Income (Expense):
Interest expense and other finance charges	(49)	(42)
Other income, net	3	1
Total	(46)	(41)
Income Before Income Taxes	324	272
Income tax expense	60	60
Net Income	$264	$212

CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

	Three Months Ended March 31,
	2024	2023
(in millions)
Net income	$264	$212
Adjustment to pension and other postretirement plans (net of tax of, $-0- and $-0-)	(1)	(1)
Other comprehensive loss	(1)	(1)
Comprehensive income	$263	$211

	March 31, 2024	December 31, 2023
(in millions)
ASSETS
Current Assets:
Cash and cash equivalents	$17	$1
Accounts receivable, less allowance for credit losses of $29 and $25, respectively	343	356
Accrued unbilled revenues, less allowance for credit losses of $2 and $1, respectively	214	329
Accounts and notes receivable–affiliated companies	37	43
Materials and supplies	98	107
Natural gas inventory	69	156
Taxes receivable	137	101
Current assets held for sale	1,230	—
Regulatory assets	291	161
Prepaid expenses and other current assets	30	55
Total current assets	2,466	1,309
Property, Plant and Equipment, net:
Property, plant and equipment	14,671	15,672
Less: accumulated depreciation and amortization	3,961	4,169
Property, plant and equipment, net	10,710	11,503
Other Assets:
Goodwill	1,461	1,583
Regulatory assets	790	850
Other non-current assets	51	51
Total other assets	2,302	2,484
Total Assets	$15,478	$15,296

	March 31, 2024	December 31, 2023
(in millions)
LIABILITIES AND STOCKHOLDER’S EQUITY
Current Liabilities:
Short-term borrowings	$—	$4
Accounts payable	271	392
Accounts and notes payable–affiliated companies	112	99
Taxes accrued	118	145
Interest accrued	44	70
Customer deposits	81	95
Non-trading derivative liabilities	8	8
Current liabilities held for sale	224	—
Other current liabilities	232	274
Total current liabilities	1,090	1,087
Other Liabilities:
Deferred income taxes, net	1,370	1,246
Non-trading derivative liabilities	2	3
Benefit obligations	74	74
Regulatory liabilities	1,796	1,882
Other non–current liabilities	400	455
Total other liabilities	3,642	3,660
Long-Term Debt, net	4,719	4,670
Commitments and Contingencies (Note 13)
Stockholder’s Equity:
Common stock	—	—
Additional paid-in capital	4,229	4,229
Retained earnings	1,783	1,634
Accumulated other comprehensive income	15	16
Total stockholder’s equity	6,027	5,879
Total Liabilities and Stockholder’s Equity	$15,478	$15,296

	Three Months Ended March 31,
	2024	2023
(in millions)
Cash Flows from Operating Activities:
Net income	$264	$212
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	127	118
Deferred income taxes	106	21
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	21	233
Accounts receivable/payable–affiliated companies	18	(90)
Inventory	82	141
Taxes receivable	(36)	—
Accounts payable	(81)	(289)
Net regulatory assets and liabilities	(69)	1,136
Other current assets and liabilities	(53)	45
Other non-current assets and liabilities	12	3
Other operating activities, net	(13)	1
Net cash provided by operating activities	378	1,531
Cash Flows from Investing Activities:
Capital expenditures	(303)	(391)
Decrease (increase) in notes receivable–affiliated companies	1	(30)
Other investing activities, net	13	(2)
Net cash used in investing activities	(289)	(423)
Cash Flows from Financing Activities:
Decrease in short-term borrowings, net	(4)	(11)
Proceeds from (payments of) commercial paper, net	48	(805)
Proceeds from long-term debt and term loan	—	1,698
Payments of long-term debt and term loan	—	(1,775)
Dividends to parent	(115)	(204)
Payment of debt issuance costs	—	(9)
Other financing activities, net	(2)	(1)
Net cash used in financing activities	(73)	(1,107)
Net Increase in Cash, Cash Equivalents and Restricted Cash	16	1
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	1	—
Cash, Cash Equivalents and Restricted Cash at End of Period	$17	$1

	Three Months Ended March 31,
2024 · 2023
Shares · Amount · Shares · Amount
(in millions, except share amounts)
Common Stock
Balance, beginning of period	1,000		$—	1,000		$—
Balance, end of period	1,000		—	1,000		—
Additional Paid-in-Capital
Balance, beginning of period		4,229			3,729
Balance, end of period		4,229			3,729
Retained Earnings
Balance, beginning of period		1,634			1,618
Net income		264			212
Dividend to parent		(115)			(204)
Balance, end of period		1,783			1,626
Accumulated Other Comprehensive Income
Balance, beginning of period		16			16
Other comprehensive loss		(1)			(1)
Balance, end of period		15			15
Total Stockholder’s Equity		$6,027			$5,370

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.