CENTERPOINT ENERGY INC

For the period ended Sep 30, 2024. Filed Oct 28, 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.

Sep 30, 2024 · Filed Oct 28, 2024

CNP$40.66+1.7%Stored close · as of Nov 6, 2026

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Contents

CenterPoint Energy, Inc. Financial Statements

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
(in millions, except per share amounts)
Revenues:
Utility revenues	$1,842	$1,849	$6,341	$6,355
Non-utility revenues	14	11	40	159
Total	1,856	1,860	6,381	6,514
Expenses:
Utility natural gas, fuel and purchased power	197	192	1,217	1,550
Non-utility cost of revenues, including natural gas	1	1	2	98
Operation and maintenance	775	648	2,162	1,990
Depreciation and amortization	334	374	1,083	1,042
Taxes other than income taxes	125	127	410	395
Total	1,432	1,342	4,874	5,075
Operating Income	424	518	1,507	1,439
Other Income (Expense):
Gain (loss) on equity securities	54	49	(10)	56
Gain (loss) on indexed debt securities	(53)	(47)	14	(52)
Loss on sale	—	—	—	(12)
Interest expense and other finance charges	(191)	(176)	(601)	(489)
Interest expense on Securitization Bonds	(4)	(7)	(15)	(11)
Other income, net	15	13	39	39
Total	(179)	(168)	(573)	(469)
Income Before Income Taxes	245	350	934	970
Income tax expense	52	68	163	245
Net Income	193	282	771	725
Income allocated to preferred shareholders	—	26	—	50
Income Available to Common Shareholders	$193	$256	$771	$675
Basic Earnings Per Common Share	$0.30	$0.41	$1.20	$1.07
Diluted Earnings Per Common Share	$0.30	$0.40	$1.20	$1.07
Weighted Average Common Shares Outstanding, Basic	648	631	640	631
Weighted Average Common Shares Outstanding, Diluted	648	633	641	633

CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
(in millions)
Net income	$193	$282	$771	$725
Other comprehensive income (loss):
Adjustment to pension and other postretirement plans (net of tax of $-0-, $-0-, $-0-, and $-0-)	1	1	2	—
Net deferred gain from cash flow hedges (net of tax of $0, $-0-, $1, and $-0-)	—	2	4	2
Reclassification of deferred gain from cash flow hedges realized in net income (net of tax of $-0-, $-0-, $-0- and $-0-)	(1)	—	(1)	—
Total	—	3	5	2
Comprehensive income	193	285	776	727
Income allocated to preferred shareholders	—	26	—	50
Comprehensive income available to common shareholders	$193	$259	$776	$677

	September 30, 2024	December 31, 2023
(in millions)
ASSETS
Current Assets:
Cash and cash equivalents ($111 and $90 related to VIEs, respectively)	$112	$90
Investment in equity securities	531	541
Accounts receivable ($2 and $21 related to VIEs, respectively), less allowance for credit losses of $29 and $27, respectively	701	710
Accrued unbilled revenues ($2 and $2 related to VIEs, respectively), less allowance for credit losses of $1 and $2, respectively	338	516
Natural gas and coal inventory	184	197
Materials and supplies	549	573
Non-trading derivative assets	1	—
Taxes receivable	169	94
Current assets held for sale	1,346	—
Regulatory assets	243	161
Prepaid expenses and other current assets ($13 and $15 related to VIEs, respectively)	96	145
Total current assets	4,270	3,027
Property, Plant and Equipment, net:
Property, plant and equipment	41,891	40,396
Less: accumulated depreciation and amortization	10,453	10,543
Property, plant and equipment, net	31,438	29,853
Other Assets:
Goodwill	3,943	4,160
Regulatory assets ($316 and $402 related to VIEs, respectively)	3,007	2,513
Other non-current assets	235	162
Total other assets	7,185	6,835
Total Assets	$42,893	$39,715

	September 30, 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	94	178
Indexed debt, net	3	5
Current portion of other long-term debt	51	872
Indexed debt securities derivative	591	605
Accounts payable	1,684	917
Taxes accrued	265	291
Interest accrued	229	236
Dividends accrued	137	126
Customer deposits	96	111
Non-trading derivative liabilities	5	9
Current liabilities held for sale	220	—
Other current liabilities	461	510
Total current liabilities	3,836	3,864
Other Liabilities:
Deferred income taxes, net	4,383	4,079
Non-trading derivative liabilities	2	3
Benefit obligations	591	572
Regulatory liabilities	3,031	3,208
Other non-current liabilities	786	763
Total other liabilities	8,793	8,625
Long-term Debt, net:
VIE Securitization Bonds, net	314	320
Other long-term debt, net	19,415	17,239
Total long-term debt, net	19,729	17,559
Commitments and Contingencies (Note 13)
Shareholders’ Equity:
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 651,721,174 shares and 631,225,829 shares outstanding, respectively	6	6
Additional paid-in capital	9,091	8,604
Retained earnings	1,468	1,092
Accumulated other comprehensive loss	(30)	(35)
Total shareholders’ equity	10,535	9,667
Total Liabilities and Shareholders’ Equity	$42,893	$39,715

	Nine Months Ended September 30,
	2024	2023
(in millions)
Cash Flows from Operating Activities:
Net income	$771	$725
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,083	1,042
Deferred income taxes	238	94
Loss on divestitures	—	12
Loss (gain) on equity securities	10	(56)
Loss (gain) on indexed debt securities	(14)	52
Pension contributions	(5)	(30)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	145	528
Inventory	19	63
Taxes receivable	(75)	(47)
Accounts payable	(247)	(443)
Current regulatory assets and liabilities	(91)	1,173
Non-current regulatory assets and liabilities	(553)	(71)
Other current assets and liabilities	(25)	(41)
Other non-current assets and liabilities	31	59
Other operating activities, net	(37)	9
Net cash provided by operating activities	1,250	3,069
Cash Flows from Investing Activities:
Capital expenditures	(2,501)	(3,323)
Proceeds from divestitures	—	145
Other investing activities, net	(58)	(12)
Net cash used in investing activities	(2,559)	(3,190)
Cash Flows from Financing Activities:
Decrease in short-term borrowings, net	(2)	(14)
Payments of commercial paper, net	(520)	(1,496)
Proceeds from long-term debt and term loans, net	2,757	5,574
Payments of long-term debt and term loans, including make-whole premiums	(963)	(2,613)
Payment of debt issuance costs	(25)	(50)
Payment of dividends on Common Stock	(384)	(359)
Payment of dividends on Preferred Stock	—	(49)
Proceeds from issuance of Common Stock, net	494	—
Redemption of Series A Preferred Stock	—	(800)
Other financing activities, net	(28)	(25)
Net cash provided by financing activities	1,329	168
Net Increase in Cash, Cash Equivalents and Restricted Cash	20	47
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	109	91
Cash, Cash Equivalents and Restricted Cash at End of Period	$129	$138

Three Months Ended September 30, · Nine Months Ended September 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
Redemption of Series A Preferred Stock	—		—	(1)		(790)	—	—		(1)	(790)
Balance, end of period	—		—	—		—	—	—		—	—
Common Stock, $0.01 par value; authorized 1,000,000,000 shares
Balance, beginning of period	642		6	631		6	631	6		630	6
Issuances of Common Stock	10		—	—		—	19	—		—	—
Issuances related to benefit and investment plans	—		—	—		—	2	—		1	—
Balance, end of period	652		6	631		6	652	6		631	6
Additional Paid-in-Capital
Balance, beginning of period		8,836			8,570		8,604		8,568
Issuances of Common Stock, net of issuance costs		247			—		494		—
Issuances related to benefit and investment plans		8			11		(7)		13
Balance, end of period		9,091			8,581		9,091		8,581
Retained Earnings
Balance, beginning of period		1,542			1,032		1,092		709
Net income		193			282		771		725
Common Stock dividends declared (see Note 18)		(267)			(246)		(395)		(366)
Preferred Stock dividends declared (see Note 18)		—			(41)		—		(41)
Balance, end of period		1,468			1,027		1,468		1,027
Accumulated Other Comprehensive Loss
Balance, beginning of period		(30)			(32)		(35)		(31)
Other comprehensive income		—			3		5		2
Balance, end of period		(30)			(29)		(30)		(29)
Total Shareholders’ Equity		$10,535			$9,585		$10,535		$9,585

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