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

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

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Contents

CenterPoint Energy, Inc. and Subsidiaries Financial Statements

	Three Months Ended March 31,
	2025	2024
(in millions, except per share amounts)
Revenues:
Utility revenues	$2,906	$2,607
Non-utility revenues	14	13
Total	2,920	2,620
Expenses:
Utility natural gas, fuel and purchased power	1,006	787
Non-utility cost of revenues, including natural gas	1	1
Operation and maintenance	747	709
Depreciation and amortization	363	363
Taxes other than income taxes	154	144
Total	2,271	2,004
Operating Income	649	616
Other Income (Expense):
Loss on sale	(43)	—
Gain (loss) on equity securities	79	(83)
Gain (loss) on indexed debt securities	(79)	85
Interest expense and other finance charges	(234)	(198)
Interest expense on Securitization Bonds	(4)	(6)
Other income, net	10	14
Total	(271)	(188)
Income Before Income Taxes	378	428
Income tax expense	81	78
Net Income	$297	$350
Basic Earnings Per Common Share	$0.45	$0.55
Diluted Earnings Per Common Share	$0.45	$0.55
Weighted Average Common Shares Outstanding, Basic	652	632
Weighted Average Common Shares Outstanding, Diluted	653	634

CONDENSED STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

	Three Months Ended March 31,
	2025	2024
(in millions)
Net income	$297	$350
Other comprehensive income (loss):
Adjustment to pension and other postretirement plans (net of tax of $-0-, and $-0-)	—	(1)
Net deferred gain from cash flow hedges (net of tax of $-0-, and $-0-)	—	3
Total	—	2
Comprehensive income	$297	$352

	March 31, 2025	December 31, 2024
(in millions)
ASSETS
Current Assets:
Cash and cash equivalents ($29 and $21 related to VIEs, respectively)	$1,254	$24
Investment in equity securities	640	561
Accounts receivable ($2 and $2 related to VIEs, respectively), less allowance for credit losses of $30 and $28, respectively	869	717
Accrued unbilled revenues ($2 and $2 related to VIEs, respectively), less allowance for credit losses of $1 and $2, respectively	403	521
Natural gas and coal inventory	88	173
Materials and supplies	520	541
Taxes receivable	81	121
Current assets held for sale	—	1,361
Regulatory assets	168	239
Prepaid expenses and other current assets ($2 and $2 related to VIEs, respectively)	113	123
Total current assets	4,136	4,381
Property, Plant and Equipment, Net:
Property, plant and equipment	43,868	42,667
Less: accumulated depreciation and amortization	10,768	10,578
Property, plant and equipment, net	33,100	32,089
Other Assets:
Goodwill	3,943	3,943
Regulatory assets ($309 and $313 related to VIEs, respectively)	3,086	3,108
Other non-current assets	221	247
Total other assets	7,250	7,298
Total Assets	$44,486	$43,768

CONDENSED CONSOLIDATED BALANCE SHEETS – (continued)

	March 31, 2025	December 31, 2024
(in millions, except par value and shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Short-term borrowings	$500	$500
Current portion of VIE Securitization Bonds long-term debt	13	13
Indexed debt, net	2	2
Current portion of other long-term debt	1,310	51
Indexed debt securities derivative	698	619
Accounts payable	1,042	1,320
Taxes accrued	202	329
Interest accrued	235	274
Dividends accrued	—	143
Customer deposits	94	93
Current liabilities held for sale	—	176
Other current liabilities	345	525
Total current liabilities	4,441	4,045
Other Liabilities:
Deferred income taxes, net	4,477	4,389
Benefit obligations	491	550
Regulatory liabilities	3,001	2,999
Other non-current liabilities	759	722
Total other liabilities	8,728	8,660
Long-term Debt, Net:
VIE Securitization Bonds, net	308	308
Other long-term debt, net	20,054	20,089
Total long-term debt, net	20,362	20,397
Commitments and Contingencies (Note 11)
Shareholders’ Equity:
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 652,726,754 shares and 651,727,276 shares outstanding, respectively	6	6
Additional paid-in capital	9,097	9,105
Retained earnings	1,869	1,572
Accumulated other comprehensive loss	(17)	(17)
Total shareholders’ equity	10,955	10,666
Total Liabilities and Shareholders’ Equity	$44,486	$43,768

	Three Months Ended March 31,
	2025	2024
(in millions)
Cash Flows from Operating Activities:
Net income	$297	$350
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	363	363
Deferred income taxes	45	193
Loss on sale	43	—
Loss (gain) on equity securities	(79)	83
Loss (gain) on indexed debt securities	79	(85)
Pension contributions	(63)	(2)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	(125)	72
Inventory	110	93
Taxes receivable	40	(110)
Accounts payable	(216)	(70)
Current regulatory assets and liabilities	64	(97)
Non-current regulatory assets and liabilities	1	(48)
Other current assets and liabilities	(244)	(224)
Other non-current assets and liabilities	94	40
Other operating activities, net	1	(20)
Net cash provided by operating activities	410	538
Cash Flows from Investing Activities:
Capital expenditures	(1,038)	(845)
Payment for asset acquisition	(357)	—
Proceeds from divestiture	1,219	—
Other investing activities, net	(58)	1
Net cash used in investing activities	(234)	(844)
Cash Flows from Financing Activities:
Decrease in short-term borrowings, net	(3)	(4)
Proceeds from commercial paper, net	569	157
Proceeds from long-term debt and term loans, net	665	398
Payments of long-term debt and term loans, including make-whole premiums	(11)	(22)
Payment of debt issuance costs	(8)	(3)
Payment of dividends on Common Stock	(143)	(126)
Proceeds from issuance of Common Stock, net	—	3
Other financing activities, net	(16)	(27)
Net cash provided by financing activities	1,053	376
Net Increase in Cash, Cash Equivalents and Restricted Cash	1,229	70
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	30	109
Cash, Cash Equivalents and Restricted Cash at End of Period	$1,259	$179
Supplemental Disclosure of Cash Flow Information
Cash paid for interest, net of capitalized interest	$290	$228
Refunds received for income taxes, net	(3)	(12)
Supplemental Disclosure of Non-cash Transactions
Accounts payable related to capital expenditures	$334	$195
ROU assets obtained in exchange for lease liabilities	35	—

	Three Months Ended March 31,
2025 · 2024
Shares · Amount · Shares · Amount
(in millions of dollars and shares, except authorized shares and par value)
Common Stock, $0.01 par value; authorized 1,000,000,000 shares
Balance, beginning of period	652		$6	631		$6
Issuances related to benefit and investment plans	—		—	2		—
Balance, end of period	652		6	633		6
Additional Paid-in-Capital
Balance, beginning of period		9,105			8,604
Issuances of Common Stock, net of issuance costs		—			3
Issuances related to benefit and investment plans		(8)			(24)
Balance, end of period		9,097			8,583
Retained Earnings
Balance, beginning of period		1,572			1,092
Net income		297			350
Balance, end of period		1,869			1,442
Accumulated Other Comprehensive Loss
Balance, beginning of period		(17)			(35)
Other comprehensive income		—			2
Balance, end of period		(17)			(33)
Total Shareholders’ Equity		$10,955			$9,998

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