CENTERPOINT ENERGY INC
For the period ended Jun 30, 2024. Filed Jul 30, 2024.
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Jun 30, 2024 · Filed Jul 30, 2024
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(5) Employee Benefit Plans
The Registrants’ net periodic cost, before considering amounts subject to overhead allocations for capital expenditure projects or for amounts subject to deferral for regulatory purposes, includes the following components relating to pension and postretirement benefits:
Pension Benefits (CenterPoint Energy)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (in millions) | ||||
| Service cost (1) | $6 | $6 | $12 | $13 |
| Interest cost (2) | 18 | 19 | 37 | 38 |
| Expected return on plan assets (2) | (18) | (19) | (37) | (38) |
| Amortization of net loss (2) | 7 | 7 | 14 | 14 |
| Net periodic cost | $13 | $13 | $26 | $27 |
(1)Amounts presented in the table above are included in Operation and maintenance expense in CenterPoint Energy’s Condensed Statements of Consolidated Income, net of amounts capitalized and regulatory deferrals.
(2)Amounts presented in the table above are included in Other income, net in CenterPoint Energy’s Condensed Statements of Consolidated Income, net of regulatory deferrals.
Postretirement Benefits
| Three Months Ended June 30, | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | |||||
| CenterPoint Energy | Houston Electric | CERC | CenterPoint Energy | Houston Electric | CERC | |
| (in millions) | ||||||
| Service cost (1) | $1 | $— | $— | $1 | $— | $— |
| Interest cost (2) | 3 | 2 | 1 | 3 | 2 | 1 |
| Expected return on plan assets (2) | (2) | (1) | — | (2) | (1) | — |
| Amortization of prior service credit (2) | — | (2) | — | (1) | (2) | — |
| Amortization of net loss (2) | (2) | (1) | — | (2) | (1) | — |
| Net periodic cost (benefit) | $— | $(2) | $1 | $(1) | $(2) | $1 |
| Six Months Ended June 30, | ||||||
| 2024 | 2023 | |||||
| CenterPoint Energy | Houston Electric | CERC | CenterPoint Energy | Houston Electric | CERC | |
| (in millions) | ||||||
| Service cost (1) | $1 | $— | $— | $1 | $— | $— |
| Interest cost (2) | 6 | 3 | 2 | 6 | 3 | 2 |
| Expected return on plan assets (2) | (3) | (2) | — | (3) | (2) | — |
| Amortization of prior service cost (credit) (2) | (1) | (3) | 1 | (1) | (3) | 1 |
| Amortization of net loss (2) | (4) | (2) | (1) | (4) | (2) | (1) |
| Net periodic cost (benefit) | $(1) | $(4) | $2 | $(1) | $(4) | $2 |
(1)Amounts presented in the tables above are included in Operation and maintenance expense in each of the Registrants’ respective Condensed Statements of Consolidated Income, net of amounts capitalized and regulatory deferrals.
(2)Amounts presented in the tables above are included in Other income, net in each of the Registrants’ respective Condensed Statements of Consolidated Income, net of regulatory deferrals.
The table below reflects the expected contributions to be made to the pension and postretirement benefit plans during 2024:
| CenterPoint Energy | Houston Electric | CERC | |
|---|---|---|---|
| (in millions) | |||
| Expected contribution to pension plans | $9 | $— | $— |
| Expected contribution to postretirement benefit plans | 8 | 1 | 4 |
The table below reflects the contributions made to the pension and postretirement benefit plans during the periods presented:
| Three Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | |||||
|---|---|---|---|---|---|---|
| CenterPoint Energy | Houston Electric | CERC | CenterPoint Energy | Houston Electric | CERC | |
| (in millions) | ||||||
| Pension plans | $1 | $— | $— | $3 | $— | $— |
| Postretirement benefit plans | 2 | — | 2 | 4 | — | 3 |
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