CENTERPOINT ENERGY INC

For the period ended Jun 30, 2024. Filed Jul 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.

Jun 30, 2024 · Filed Jul 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 June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
(in millions, except per share amounts)
Revenues:
Utility revenues	$1,892	$1,789	$4,499	$4,506
Non-utility revenues	13	86	26	148
Total	1,905	1,875	4,525	4,654
Expenses:
Utility natural gas, fuel and purchased power	233	280	1,020	1,358
Non-utility cost of revenues, including natural gas	—	57	1	97
Operation and maintenance	678	679	1,387	1,342
Depreciation and amortization	386	349	749	668
Taxes other than income taxes	141	130	285	268
Total	1,438	1,495	3,442	3,733
Operating Income	467	380	1,083	921
Other Income (Expense):
Gain (loss) on equity securities	19	(31)	(64)	7
Gain (loss) on indexed debt securities	(18)	34	67	(5)
Loss on sale	—	(12)	—	(12)
Interest expense and other finance charges	(212)	(165)	(410)	(313)
Interest expense on Securitization Bonds	(5)	(2)	(11)	(4)
Other income, net	10	13	24	26
Total	(206)	(163)	(394)	(301)
Income Before Income Taxes	261	217	689	620
Income tax expense	33	99	111	177
Net Income	228	118	578	443
Income allocated to preferred shareholders	—	12	—	24
Income Available to Common Shareholders	$228	$106	$578	$419
Basic Earnings Per Common Share	$0.36	$0.17	$0.91	$0.66
Diluted Earnings Per Common Share	$0.36	$0.17	$0.91	$0.66
Weighted Average Common Shares Outstanding, Basic	641	631	636	631
Weighted Average Common Shares Outstanding, Diluted	642	633	638	633

CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
(in millions)
Net income	$228	$118	$578	$443
Other comprehensive income (loss):
Adjustment to pension and other postretirement plans (net of tax of $-0-, $-0-, $-0-, and $-0-)	2	—	1	(1)
Net deferred gain from cash flow hedges (net of tax of $1, $-0-, $1, and $-0-)	1	—	4	—
Total	3	—	5	(1)
Comprehensive income	231	118	583	442
Income allocated to preferred shareholders	—	12	—	24
Comprehensive income available to common shareholders	$231	$106	$583	$418

	June 30, 2024	December 31, 2023
(in millions)
ASSETS
Current Assets:
Cash and cash equivalents ($66 and $90 related to VIEs, respectively)	$66	$90
Investment in equity securities	477	541
Accounts receivable ($28 and $21 related to VIEs, respectively), less allowance for credit losses of $30 and $27, respectively	633	710
Accrued unbilled revenues ($2 and $2 related to VIEs, respectively), less allowance for credit losses of $2 and $2, respectively	336	516
Natural gas and coal inventory	133	197
Materials and supplies	569	573
Taxes receivable	186	94
Current assets held for sale	1,325	—
Regulatory assets	243	161
Prepaid expenses and other current assets ($13 and $15 related to VIEs, respectively)	112	145
Total current assets	4,080	3,027
Property, Plant and Equipment, net:
Property, plant and equipment	40,589	40,396
Less: accumulated depreciation and amortization	10,372	10,543
Property, plant and equipment, net	30,217	29,853
Other Assets:
Goodwill	3,943	4,160
Regulatory assets ($322 and $402 related to VIEs, respectively)	2,525	2,513
Other non-current assets	211	162
Total other assets	6,679	6,835
Total Assets	$40,976	$39,715

	June 30, 2024	December 31, 2023
(in millions, except par value and shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Short-term borrowings	$2	$4
Current portion of VIE Securitization Bonds long-term debt	94	178
Indexed debt, net	4	5
Current portion of other long-term debt	510	872
Indexed debt securities derivative	538	605
Accounts payable	1,057	917
Taxes accrued	211	291
Interest accrued	244	236
Dividends accrued	—	126
Customer deposits	95	111
Non-trading derivative liabilities	4	9
Current liabilities held for sale	218	—
Other current liabilities	433	510
Total current liabilities	3,410	3,864
Other Liabilities:
Deferred income taxes, net	4,324	4,079
Non-trading derivative liabilities	1	3
Benefit obligations	590	572
Regulatory liabilities	3,039	3,208
Other non-current liabilities	744	763
Total other liabilities	8,698	8,625
Long-term Debt, net:
VIE Securitization Bonds, net	314	320
Other long-term debt, net	18,200	17,239
Total long-term debt, net	18,514	17,559
Commitments and Contingencies (Note 13)
Shareholders’ Equity:
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 641,953,090 shares and 631,225,829 shares outstanding, respectively	6	6
Additional paid-in capital	8,836	8,604
Retained earnings	1,542	1,092
Accumulated other comprehensive loss	(30)	(35)
Total shareholders’ equity	10,354	9,667
Total Liabilities and Shareholders’ Equity	$40,976	$39,715

	Six Months Ended June 30,
	2024	2023
(in millions)
Cash Flows from Operating Activities:
Net income	$578	$443
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	749	668
Deferred income taxes	200	22
Loss on divestitures	—	12
Loss (gain) on equity securities	64	(7)
Loss (gain) on indexed debt securities	(67)	5
Pension contributions	(3)	(4)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	188	647
Inventory	52	142
Taxes receivable	(92)	2
Accounts payable	(83)	(403)
Net regulatory assets and liabilities	(366)	1,022
Other current assets and liabilities	(93)	(120)
Other non-current assets and liabilities	21	48
Other operating activities, net	(34)	5
Net cash provided by operating activities	1,114	2,482
Cash Flows from Investing Activities:
Capital expenditures	(1,657)	(2,259)
Proceeds from divestitures	—	145
Other investing activities, net	57	(40)
Net cash used in investing activities	(1,600)	(2,154)
Cash Flows from Financing Activities:
Decrease in short-term borrowings, net	(4)	(14)
Payments of commercial paper, net	(623)	(920)
Proceeds from long-term debt and term loans, net	1,596	3,675
Payments of long-term debt and term loans, including make-whole premiums	(463)	(2,613)
Payment of debt issuance costs	(12)	(28)
Payment of dividends on Common Stock	(254)	(240)
Payment of dividends on Preferred Stock	—	(24)
Proceeds from issuance of Common Stock, net	247	—
Other financing activities, net	(28)	(23)
Net cash provided by (used in) financing activities	459	(187)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	(27)	141
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	109	91
Cash, Cash Equivalents and Restricted Cash at End of Period	$82	$232

Three Months Ended June 30, · Six Months Ended June 30,
2024 · 2023 · 2024 · 2023
Shares · Amount · Shares · Amount · 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	—	$—		1	$790
Balance, end of period	—		—	1		790	—	—		1	790
Common Stock, $0.01 par value; authorized 1,000,000,000 shares
Balance, beginning of period	633		6	631		6	631	6		630	6
Issuances of Common Stock	9		—	—		—	9	—		—	—
Issuances related to benefit and investment plans	—		—	—		—	2	—		1	—
Balance, end of period	642		6	631		6	642	6		631	6
Additional Paid-in-Capital
Balance, beginning of period		8,583			8,558		8,604		8,568
Issuances of Common Stock, net of issuance costs		244			—		247		—
Issuances related to benefit and investment plans		9			12		(15)		2
Balance, end of period		8,836			8,570		8,836		8,570
Retained Earnings
Balance, beginning of period		1,442			1,034		1,092		709
Net income		228			118		578		443
Common Stock dividends declared (see Note 18)		(128)			(120)		(128)		(120)
Balance, end of period		1,542			1,032		1,542		1,032
Accumulated Other Comprehensive Loss
Balance, beginning of period		(33)			(32)		(35)		(31)
Other comprehensive income (loss)		3			—		5		(1)
Balance, end of period		(30)			(32)		(30)		(32)
Total Shareholders’ Equity		$10,354			$10,366		$10,354		$10,366

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