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

CNP$40.81+0.4%Stored close · as of Nov 9, 2026

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Contents

CenterPoint Energy, Inc. Financial Statements

	Three Months Ended March 31,
	2024	2023
(in millions, except per share amounts)
Revenues:
Utility revenues	$2,607	$2,717
Non-utility revenues	13	62
Total	2,620	2,779
Expenses:
Utility natural gas, fuel and purchased power	787	1,078
Non-utility cost of revenues, including natural gas	1	40
Operation and maintenance	709	663
Depreciation and amortization	363	319
Taxes other than income taxes	144	138
Total	2,004	2,238
Operating Income	616	541
Other Income (Expense):
Gain (loss) on equity securities	(83)	38
Gain (loss) on indexed debt securities	85	(39)
Interest expense and other finance charges	(198)	(148)
Interest expense on Securitization Bonds	(6)	(2)
Other income, net	14	13
Total	(188)	(138)
Income Before Income Taxes	428	403
Income tax expense	78	78
Net Income	350	325
Income allocated to preferred shareholders	—	12
Income Available to Common Shareholders	$350	$313
Basic Earnings Per Common Share	$0.55	$0.50
Diluted Earnings Per Common Share	$0.55	$0.49
Weighted Average Common Shares Outstanding, Basic	632	630
Weighted Average Common Shares Outstanding, Diluted	634	633

CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

	Three Months Ended March 31,
	2024	2023
(in millions)
Net Income	$350	$325
Other comprehensive income (loss):
Adjustment to pension and other postretirement plans (net of tax of $-0- and $-0-)	(1)	(1)
Net deferred gain from cash flow hedges (net of tax of $-0- and $-0-)	3	—
Total	2	(1)
Comprehensive income	352	324
Income allocated to preferred shareholders	—	12
Comprehensive income available to common shareholders	$352	$312

	March 31, 2024	December 31, 2023
(in millions)
ASSETS
Current Assets:
Cash and cash equivalents ($132 and $90 related to VIEs, respectively)	$161	$90
Investment in equity securities	458	541
Accounts receivable ($20 and $21 related to VIEs, respectively), less allowance for credit losses of $32 and $27, respectively	675	710
Accrued unbilled revenues ($2 and $2 related to VIEs, respectively), less allowance for credit losses of $2 and $2, respectively	372	516
Natural gas and coal inventory	104	197
Materials and supplies	559	573
Non-trading derivative assets	3	—
Taxes receivable	204	94
Current assets held for sale	1,325	—
Regulatory assets	294	161
Prepaid expenses and other current assets ($15 and $15 related to VIEs, respectively)	131	145
Total current assets	4,286	3,027
Property, Plant and Equipment, net:
Property, plant and equipment	39,631	40,396
Less: accumulated depreciation and amortization	10,252	10,543
Property, plant and equipment, net	29,379	29,853
Other Assets:
Goodwill	3,943	4,160
Regulatory assets ($367 and $402 related to VIEs, respectively)	2,428	2,513
Other non-current assets	163	162
Total other assets	6,534	6,835
Total Assets	$40,199	$39,715

	March 31, 2024	December 31, 2023
(in millions, except par value and shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Short-term borrowings	$—	$4
Current portion of VIE Securitization Bonds long-term debt	178	178
Indexed debt, net	4	5
Current portion of other long-term debt	850	872
Indexed debt securities derivative	520	605
Accounts payable	753	917
Taxes accrued	193	291
Interest accrued	208	236
Dividends accrued	—	126
Customer deposits	97	111
Non-trading derivative liabilities	9	9
Current liabilities held for sale	224	—
Other current liabilities	394	510
Total current liabilities	3,430	3,864
Other Liabilities:
Deferred income taxes, net	4,295	4,079
Non-trading derivative liabilities	3	3
Benefit obligations	585	572
Regulatory liabilities	3,046	3,208
Other non-current liabilities	725	763
Total other liabilities	8,654	8,625
Long-term Debt, net:
VIE Securitization Bonds, net	320	320
Other long-term debt, net	17,797	17,239
Total long-term debt, net	18,117	17,559
Commitments and Contingencies (Note 13)
Shareholders’ Equity:
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 633,166,053 shares and 631,225,829 shares outstanding, respectively	6	6
Additional paid-in capital	8,583	8,604
Retained earnings	1,442	1,092
Accumulated other comprehensive loss	(33)	(35)
Total shareholders’ equity	9,998	9,667
Total Liabilities and Shareholders’ Equity	$40,199	$39,715

	Three Months Ended March 31,
	2024	2023
(in millions)
Cash Flows from Operating Activities:
Net income	$350	$325
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	363	319
Deferred income taxes	193	(13)
Loss (gain) on equity securities	83	(38)
Loss (gain) on indexed debt securities	(85)	39
Pension contributions	(2)	(2)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	72	351
Inventory	93	95
Taxes receivable	(110)	13
Accounts payable	(70)	(323)
Net regulatory assets and liabilities	(145)	1,025
Other current assets and liabilities	(224)	(86)
Other non-current assets and liabilities	40	6
Other operating activities, net	(20)	2
Net cash provided by operating activities	538	1,713
Cash Flows from Investing Activities:
Capital expenditures	(845)	(1,123)
Other investing activities, net	1	(32)
Net cash used in investing activities	(844)	(1,155)
Cash Flows from Financing Activities:
Decrease in short-term borrowings, net	(4)	(11)
Proceeds from (payments of) commercial paper, net	157	(1,315)
Proceeds from long-term debt and term loans	398	3,026
Payments of long-term debt and term loans, including make-whole premiums	(22)	(2,036)
Payment of debt issuance costs	(3)	(16)
Payment of dividends on Common Stock	(126)	(120)
Payment of dividends on Preferred Stock	—	(24)
Proceeds from issuance of Common Stock, net	3	—
Other financing activities, net	(27)	(23)
Net cash provided by (used in) financing activities	376	(519)
Net Increase in Cash, Cash Equivalents and Restricted Cash	70	39
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	109	91
Cash, Cash Equivalents and Restricted Cash at End of Period	$179	$130

	Three Months Ended March 31,
2024 · 2023
Shares · Amount · Shares · Amount
(in millions of dollars and shares, except authorized shares and par value amounts)
Cumulative Preferred Stock, $0.01 par value; authorized 20,000,000 shares
Balance, beginning of period	—		$—	1		$790
Balance, end of period	—		—	1		790
Common Stock, $0.01 par value; authorized 1,000,000,000 shares
Balance, beginning of period	631		6	630		6
Issuances related to benefit and investment plans	2		—	1		—
Balance, end of period	633		6	631		6
Additional Paid-in-Capital
Balance, beginning of period		8,604			8,568
Issuances of Common Stock, net of issuance costs		3			—
Issuances related to benefit and investment plans		(24)			(10)
Balance, end of period		8,583			8,558
Retained Earnings
Balance, beginning of period		1,092			709
Net income		350			325
Balance, end of period		1,442			1,034
Accumulated Other Comprehensive Loss
Balance, beginning of period		(35)			(31)
Other comprehensive income (loss)		2			(1)
Balance, end of period		(33)			(32)
Total Shareholders’ Equity		$9,998			$10,356

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