CENTERPOINT ENERGY INC
For the period ended Mar 31, 2025. Filed Apr 24, 2025.
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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, 2025 · Filed Apr 24, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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(1) Reportable Segments
(13)Reportable Segments
The Registrants’ determination of reportable segments considers the strategic operating units under which the CODM manages sales, allocates resources and assesses performance of various products and services to wholesale or retail customers in differing regulatory environments.
As of March 31, 2025, reportable segments by Registrant and information about each Registrant’s CODM were as follows:
CenterPoint Energy’s Electric reportable segment consists of electric transmission and distribution services in the Texas Gulf Coast area in the ERCOT region and electric transmission and distribution services primarily to southwestern Indiana and includes power generation and wholesale power operations in the MISO region.
CenterPoint Energy’s Natural Gas reportable segment consists of (i) intrastate natural gas sales to, and natural gas transportation and distribution for residential, commercial, and industrial customers in Indiana, Minnesota, Ohio and Texas; and (ii) permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies through CEIP.
CenterPoint Energy’s Corporate and Other category consists of corporate support operations that support all of CenterPoint Energy’s business operations. CenterPoint Energy’s Corporate and Other also includes office buildings and other real estate used for business operations.
CenterPoint Energy’s CODM, the President and Chief Executive Officer, evaluates performance for all of its reportable segments based on segment net income. The CODM uses segment net income to allocate resources as part of the budgeting and forecasting process as well as during periodic budget-to-actual reviews.
Houston Electric’s single reportable segment consists of electric transmission services to transmission service customers in the ERCOT region and distribution services to REPs serving the Texas Gulf Coast area that includes the city of Houston.
Houston Electric’s CODM, the President and Chief Executive Officer, evaluates performance for its single reportable segment based on segment net income. The CODM uses segment net income to allocate resources as part of the budgeting and forecasting process as well as during periodic budget-to-actual reviews.
CERC
CERC’s single reportable segment following the Restructuring and prior to the closing of the sale of the Louisiana and Mississippi natural gas LDC businesses on March 31, 2025 consisted of (i) intrastate natural gas sales to, and natural gas transportation and distribution for, residential, commercial, and industrial customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas; and (ii) permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies through CEIP.
CERC’s CODM, the President and Chief Executive Officer, evaluates performance for its single reportable segment based on segment net income. The CODM uses segment net income to allocate resources as part of the budgeting and forecasting process as well as during periodic budget-to-actual reviews.
Expenditures for long-lived assets include property, plant and equipment. Intersegment sales are eliminated in consolidation, except as described in Note 4.
Financial data for reportable segments is as follows:
| Three Months Ended March 31, 2025 | ||||||
|---|---|---|---|---|---|---|
| Electric | Natural Gas | Corporate and Other | Total Reportable Segments | Eliminations | Total | |
| (in millions) | ||||||
| Revenues from external customers | $1,066 | $1,852 | $2 | $2,920 | $— | $2,920 |
| Intersegment revenues | — | 1 | — | 1 | (1) | — |
| Utility natural gas, fuel and purchased power | 74 | 933 | — | 1,007 | (1) | 1,006 |
| Non-utility cost of revenues, including natural gas | — | 1 | — | 1 | — | 1 |
| Operation and maintenance expenses | 484 | 265 | (2) | 747 | — | 747 |
| Depreciation and amortization | 210 | 147 | 6 | 363 | — | 363 |
| Taxes other than income taxes | 78 | 74 | 2 | 154 | — | 154 |
| Interest expense | 101 | 59 | 85 | 245 | (7) | 238 |
| Income tax expense (benefit) | 25 | 105 | (49) | 81 | — | 81 |
| Interest income (1) | (4) | (2) | (7) | (13) | 7 | (6) |
| Other expense (income), net (2) | (10) | 43 | 6 | 39 | — | 39 |
| Net income (loss) | $108 | $228 | $(39) | $297 | $— | $297 |
| Three Months Ended March 31, 2024 | ||||||
|---|---|---|---|---|---|---|
| Electric | Natural Gas | Corporate and Other | Total Reportable Segments | Eliminations | Total | |
| (in millions) | ||||||
| Revenues from external customers | $1,049 | $1,570 | $1 | $2,620 | $— | $2,620 |
| Utility natural gas, fuel and purchased power | 43 | 744 | — | 787 | — | 787 |
| Non-utility cost of revenues, including natural gas | — | 1 | — | 1 | — | 1 |
| Operation and maintenance expenses | 475 | 234 | — | 709 | — | 709 |
| Depreciation and amortization | 226 | 132 | 5 | 363 | — | 363 |
| Taxes other than income taxes | 78 | 65 | 1 | 144 | — | 144 |
| Interest expense | 91 | 51 | 69 | 211 | (7) | 204 |
| Income tax expense (benefit) | 31 | 63 | (16) | 78 | — | 78 |
| Interest income (1) | (5) | — | (2) | (7) | 7 | — |
| Other income, net (2) | (11) | (3) | (2) | (16) | — | (16) |
| Net income (loss) | $121 | $283 | $(54) | $350 | $— | $350 |
(1) Interest income from Securitization Bonds of less than $1 million and $1 million for the three months ended March 31, 2025 and 2024, respectively, is included in Other income (expense), net on CenterPoint Energy’s Statements of Consolidated Income.
(2) Other income (expense), net primarily includes AFUDC equity, non-service cost for pension and postretirement benefits, Gain (loss) on equity securities, Gain (loss) on indexed debt securities and Loss on sale.
| Expenditures for Long-lived Assets | ||
|---|---|---|
| Three Months Ended March 31, | ||
| 2025 | 2024 | |
| (in millions) | ||
| Electric | $971 | $507 |
| Natural Gas | 363 | 303 |
| Corporate and Other, net of eliminations | 6 | 1 |
| Consolidated | $1,340 | $811 |
| Total Assets | ||
|---|---|---|
| March 31, 2025 | December 31, 2024 | |
| (in millions) | ||
| Electric | $24,605 | $23,936 |
| Natural Gas | 18,299 | 18,583 |
| Corporate and Other, net of eliminations (1) | 1,582 | 1,249 |
| Consolidated | $44,486 | $43,768 |
(1)Total assets included pension and other postemployment-related regulatory assets of $378 million and $384 million as of March 31, 2025 and December 31, 2024, respectively.
Houston Electric consists of a single reportable segment. For financial data related to income and expenses for the single reportable segment, see Houston Electric’s Statements of Consolidated Income. For financial data related to segment total assets, see Houston Electric’s Consolidated Balance Sheets. Financial data related to interest income and expenditures for long-lived assets is as follows:
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| (in millions) | ||
| Interest income (1) | $2 | $4 |
| Expenditures for long-lived assets | 579 | 453 |
(1)Reflected in Other income, net on Houston Electric’s Statements of Consolidated Income.
CERC
CERC consists of a single reportable segment. For financial data related to income and expenses for the single reportable segment, see CERC’s Statements of Consolidated Income. For financial data related to segment total assets, see CERC’s Consolidated Balance Sheets. Financial data related to interest income and expenditures for long-lived assets is as follows:
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| (in millions) | ||
| Interest income (1) | $1 | $— |
| Expenditures for long-lived assets | 291 | 292 |
(1)Reflected in Other income, net on CERC’s Statements of Consolidated Income.
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