UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-5S/A
AMENDMENT NO. 1 TO
ANNUAL REPORT
For the year ended December 31, 2002
Filed pursuant to the Public Utility Holding Company Act of 1935
by
CenterPoint Energy, Inc.
1111 Louisiana
Houston, Texas 70002
Utility Holding, LLC
200 West Ninth Street Plaza
Suite 411
Wilmington, Delaware 19801
Exhibits
E-7 Gas Company Jurisdictional Annual Report of CenterPoint Energy Minnegasco to
the State of Minnesota Department of Commerce for the year ended December 31,
2002 (filed under cover of Form SE in connection herewith).
F-5 CenterPoint Energy, Inc. Consolidating Balance Sheet and Statement of
Consolidated Operations as of December 31, 2002 (attached hereto; supporting
consolidating financial statements are being filed in connection herewith with a
request for confidential treatment).
SIGNATURE
Each undersigned system company has duly caused this annual report to be
signed on its behalf by the undersigned thereunto duly authorized pursuant to
the requirements of the Public Utility Holding Company of 1935. The signature of
each undersigned company shall be deemed to relate only to matters having
reference to such company or its subsidiaries.
CENTERPOINT ENERGY, INC.,
for itself and on behalf of UTILITY HOLDING, LLC
By: /s/ Rufus S. Scott
-----------------------------------
Name: Rufus S. Scott
Title: Vice President, Deputy General Counsel and
Assistant Corporate Secretary
June 9, 2003
EXHIBIT F-5
CenterPoint Energy, Incorporated
Consolidating Balance Sheet and Statement of Consolidated Operations
December 31, 2002
In Thousands (000s)
Utility
CenterPoint Corp., Utility Holding
Energy Adjustments & Holdings Adjustments &
Consolidated Eliminations Consolidated Eliminations
------------ ------------- ------------ --------------
CURRENT ASSETS:
Cash and cash equivalents $ 305,420 222,511 82,909 --
Investments in AOL Time Warner common stock 283,486 -- 283,486 --
Accounts receivable, net 559,366 5,703 553,663 (4,456)
Accounts and notes receivable - affiliated companies -- (88,238) 88,238 64,191
Accrued unbilled revenues 354,497 -- 354,497 --
Inventory 351,816 1 351,815 --
Non-trading derivative assets 27,275 -- 27,275 --
Current assets of discontinued operations 10,162 -- 10,162 --
Prepaid expense and other current assets 71,304 4,494 66,810 --
------------ ------------ ------------ --------------
Total Current Assets 1,963,326 144,471 1,818,855 59,735
------------ ------------ ------------ --------------
PROPERTY, PLANT AND EQUIPMENT, NET 11,409,369 114,239 11,295,130 --
------------ ------------ ------------ --------------
OTHER ASSETS:
Goodwill, net 1,740,510 -- 1,740,510 --
Intangibles, net 65,880 1 65,879 --
Investment in Subs -- -- -- (7,496,267)
Regulatory assets 4,000,646 1 4,000,645 --
Non-trading derivative assets 3,866 -- 3,866 --
Non-current assets of discontinued operations 4,997 -- 4,997 --
Notes receivable - affiliated companies -- (1,679,707) 1,679,707 30,643
Other 445,883 131,631 314,252 --
------------ ------------ ------------ --------------
Total Other Assets 6,261,782 (1,548,074) 7,809,856 (7,465,624)
------------ ------------ ------------ --------------
TOTAL ASSETS $ 19,634,477 (1,289,364) 20,923,841 (7,405,889)
============ ============ ============ ==============
CenterPoint
Utility Energy CenterPoint
Holding, Houston Energy
LLC Electric LLC Resources Corp.
----------- ------------ ---------------
CURRENT ASSETS:
Cash and cash equivalents 4 70,866 9,237
Investments in AOL Time Warner common stock -- -- --
Accounts receivable, net -- 99,304 384,772
Accounts and notes receivable - affiliated companies -- -- --
Accrued unbilled revenues -- 70,385 284,112
Inventory -- 59,941 135,707
Non-trading derivative assets -- -- 27,275
Current assets of discontinued operations -- -- --
Prepaid expense and other current assets 1 11,839 50,765
----------- ------------ ---------------
Total Current Assets 5 312,335 891,868
----------- ------------ ---------------
PROPERTY, PLANT AND EQUIPMENT, NET -- 3,837,232 3,235,672
----------- ------------ ---------------
OTHER ASSETS:
Goodwill, net -- -- 1,740,510
Intangibles, net -- 39,912 19,878
Investment in Subs 7,496,267 -- --
Regulatory assets -- 3,970,007 30,638
Non-trading derivative assets -- -- 3,866
Non-current assets of discontinued operations -- -- --
Notes receivable - affiliated companies -- 814,513 39,097
Other -- 66,049 24,933
----------- ------------ ---------------
Total Other Assets 7,496,267 4,890,481 1,858,922
----------- ------------ ---------------
TOTAL ASSETS 7,496,272 9,040,048 5,986,462
=========== ============ ===============
CenterPoint
Energy
Texas Genco International,
Holdings, Inc. Inc. Other
-------------- -------------- ------------
CURRENT ASSETS:
Cash and cash equivalents 578 1,060 1,164
Investments in AOL Time Warner common stock -- -- 283,486
Accounts receivable, net 73,148 -- 895
Accounts and notes receivable - affiliated companies -- 2,801 21,246
Accrued unbilled revenues -- -- --
Inventory 156,167 -- --
Non-trading derivative assets -- -- --
Current assets of discontinued operations -- 10,162 --
Prepaid expense and other current assets 4,024 -- 181
------------ ------------ ------------
Total Current Assets 233,917 14,023 306,972
------------ ------------ ------------
PROPERTY, PLANT AND EQUIPMENT, NET 3,980,770 -- 241,456
------------ ------------ ------------
OTHER ASSETS:
Goodwill, net -- -- --
Intangibles, net 6,089 -- --
Investment in Subs -- -- --
Regulatory assets -- -- --
Non-trading derivative assets -- -- --
Non-current assets of discontinued operations -- 4,997 --
Notes receivable - affiliated companies -- -- 795,454
Other 168,071 54,087 1,112
------------ ------------ ------------
Total Other Assets 174,160 59,084 796,566
------------ ------------ ------------
TOTAL ASSETS 4,388,847 73,107 1,344,994
============ ============ ============
CenterPoint Energy, Incorporated
Consolidating Balance Sheet and Statement of Consolidated Operations
December 31, 2002
In Thousands (000s)
Utility
CenterPoint Corp., Utility Holding
Energy Adjustments & Holdings Adjustments &
Consolidated Eliminations Consolidated Eliminations
------------ ------------- ------------ -------------
CURRENT LIABILITIES:
Short-term borrowings $ 347,000 -- 347,000 --
Current portion of long-term debt 810,325 272,422 537,903 --
Indexed debt securities derivative 224,881 224,881 -- --
Accounts payable 623,317 (576,725) 1,200,042 579,122
Accounts and notes payable - affiliated companies -- (642,248) 642,248 64,205
Taxes accrued 120,865 28,585 92,280 3,545
Interest accrued 197,274 89,207 108,067 (23,000)
Non-trading derivative liabilities 26,387 16,414 9,973 --
Regulatory liabilities 168,173 -- 168,173 --
Accumulated deferred income taxes 285,214 598,736 (313,522) --
Other 286,750 56,920 229,830 6,557
------------ ------------ ------------ ------------
Total Current Liabilities 3,090,186 68,192 3,021,994 630,429
------------ ------------ ------------ ------------
OTHER LIABILITIES:
Accumulated deferred income taxes, net 2,449,206 (391,571) 2,840,777 (6,558)
Unamortized investment tax credits 230,037 (1) 230,038 --
Non-trading derivative liabilities 873 -- 873 --
Benefit obligations 834,989 622,284 212,705 --
Regulatory liabilities 959,421 1 959,420 --
Notes payable - affiliated companies -- (984,063) 984,063 49,638
Other 747,355 365,645 381,710 (26,296)
------------ ------------ ------------ ------------
Total Other Liabilities 5,221,881 (387,705) 5,609,586 16,784
------------ ------------ ------------ ------------
LONG-TERM DEBT 9,194,320 5,104,474 4,089,846 7,301
------------ ------------ ------------ ------------
COMMITMENTS AND CONTINGENCIES
COMPANY OBLIGATED MANDATORILY REDEEMABLE PREFERRED
SECURITIES OF SUBSIDIARY TRUSTS HOLDING SOLELY
JUNIOR SUBORDINATED DEBENTURES OF COMPANY 706,140 -- 706,140 --
------------ ------------ ------------ ------------
SHAREHOLDERS' EQUITY 1,421,950 (6,074,325) 7,496,275 (8,060,403)
------------ ------------ ------------ ------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 19,634,477 (1,289,364) 20,923,841 (7,405,889)
============ ============ ============ ============
CenterPoint
Utility Energy CenterPoint
Holding, Houston Energy Texas Genco
LLC Electric LLC Resources Corp. Holdings, Inc.
------------ ------------ --------------- --------------
CURRENT LIABILITIES:
Short-term borrowings -- -- 347,000 --
Current portion of long-term debt -- 18,758 517,616 1,529
Indexed debt securities derivative -- -- -- --
Accounts payable -- 32,362 465,694 120,276
Accounts and notes payable - affiliated companies -- 258,638 101,231 108,838
Taxes accrued (7) 44,208 -- 38,403
Interest accrued -- 78,355 49,084 188
Non-trading derivative liabilities -- -- 9,973 --
Regulatory liabilities -- 168,173 -- --
Accumulated deferred income taxes -- -- 6,557 --
Other 4 57,513 150,034 14,389
------------ ------------ ------------ ------------
Total Current Liabilities (3) 658,007 1,647,189 283,623
------------ ------------ ------------ ------------
OTHER LIABILITIES:
Accumulated deferred income taxes, net -- 1,419,301 595,889 813,246
Unamortized investment tax credits -- 53,581 5,888 170,569
Non-trading derivative liabilities -- -- 873 --
Benefit obligations -- 61,671 132,434 15,751
Regulatory liabilities -- 940,615 18,805 --
Notes payable - affiliated companies -- 916,400 -- --
Other -- 25,206 101,183 281,615
------------ ------------ ------------ ------------
Total Other Liabilities -- 3,416,774 855,072 1,281,181
------------ ------------ ------------ ------------
LONG-TERM DEBT -- 2,641,281 1,441,264 --
------------ ------------ ------------ ------------
COMMITMENTS AND CONTINGENCIES
COMPANY OBLIGATED MANDATORILY REDEEMABLE PREFERRED
SECURITIES OF SUBSIDIARY TRUSTS HOLDING SOLELY
JUNIOR SUBORDINATED DEBENTURES OF COMPANY -- -- 508 --
------------ ------------ ------------ ------------
SHAREHOLDERS' EQUITY 7,496,275 2,323,986 2,042,429 2,824,043
------------ ------------ ------------ ------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 7,496,272 9,040,048 5,986,462 4,388,847
============ ============ ============ ============
CenterPoint
Energy
Texas Genco International,
Holdings, Inc. Inc. Other
-------------- -------------- ------------
CURRENT LIABILITIES:
Short-term borrowings -- -- --
Current portion of long-term debt 1,529 -- --
Indexed debt securities derivative -- -- --
Accounts payable 120,276 -- 2,588
Accounts and notes payable - affiliated companies 108,838 25,269 84,067
Taxes accrued 38,403 39 6,092
Interest accrued 188 -- 3,440
Non-trading derivative liabilities -- -- --
Regulatory liabilities -- -- --
Accumulated deferred income taxes -- -- (320,079)
Other 14,389 -- 1,333
-------------- -------------- ------------
Total Current Liabilities 283,623 25,308 (222,559)
-------------- -------------- ------------
OTHER LIABILITIES:
Accumulated deferred income taxes, net 813,246 -- 18,899
Unamortized investment tax credits 170,569 -- --
Non-trading derivative liabilities -- -- --
Benefit obligations 15,751 -- 2,849
Regulatory liabilities -- -- --
Notes payable - affiliated companies -- -- 18,025
Other 281,615 -- 2
-------------- -------------- ------------
Total Other Liabilities 1,281,181 -- 39,775
-------------- -------------- ------------
LONG-TERM DEBT -- -- --
-------------- -------------- ------------
COMMITMENTS AND CONTINGENCIES
COMPANY OBLIGATED MANDATORILY REDEEMABLE PREFERRED
SECURITIES OF SUBSIDIARY TRUSTS HOLDING SOLELY
JUNIOR SUBORDINATED DEBENTURES OF COMPANY -- -- 705,632
-------------- -------------- ------------
SHAREHOLDERS' EQUITY 2,824,043 47,799 822,146
-------------- -------------- ------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 4,388,847 73,107 1,344,994
============== ============== ============
CenterPoint Energy, Incorporated
Consolidating Balance Sheet and Statement of Consolidated Operations
December 31, 2002
In Thousands (000s)
Utility
CenterPoint Corp., Utility Holding
Energy Adjustments & Holdings Adjustments &
Consolidated Eliminations Consolidated Eliminations
------------ ------------- ------------ -------------
REVENUES $ 7,906,685 -- 7,906,685 (80,408)
------------ ------------- ------------ -------------
EXPENSES:
Fuel and cost of gas sold 3,883,416 -- 3,883,416 (25,509)
Purchased power 94,749 -- 94,749 (47,665)
Operation and maintenance 1,595,835 (41,200) 1,637,035 (6,278)
Depreciation and amortization 615,770 17,342 598,428 --
Taxes other than income taxes 387,806 10,897 376,909 563
------------ ------------- ------------ -------------
Total 6,577,576 (12,961) 6,590,537 (78,889)
------------ ------------- ------------ -------------
OPERATING INCOME (LOSS) 1,329,109 12,961 1,316,148 (1,519)
------------ ------------- ------------ -------------
OTHER INCOME (EXPENSE):
Unrealized loss on AOL Time Warner investment (499,704) -- (499,704) --
Unrealized gain on indexed debt securities 480,027 480,027 -- --
Interest expense (709,177) (59,592) (649,585) (155,973)
Distribution on trust preferred securities (55,545) 50 (55,595) (1)
Other, net 18,865 (153,594) 172,459 (272,496)
------------ ------------- ------------ -------------
Total (765,534) 266,891 (1,032,425) (428,470)
------------ ------------- ------------ -------------
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 563,575 279,852 283,723 (429,989)
INCOME TAX EXPENSE 197,248 41,666 155,582 7,999
------------ ------------- ------------ -------------
INCOME FROM CONTINUING OPERATIONS 366,327 238,186 128,141 (437,988)
INCOME FROM DISCONTINUED OPERATIONS OF RELIANT RESOURCES,
NET OF TAX 82,157 82,157 -- --
INCOME FROM DISCONTINUED OPERATIONS OF LATIN AMERICA, NET OF TAX 2,746 -- 2,746 --
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX -- -- -- (131,949)
LOSS ON DISPOSAL OF DISCONTINUED OPERATIONS OF RELIANT RESOURCES (4,371,464) (4,371,464) -- --
------------ ------------- ------------ -------------
NET INCOME (LOSS) $ (3,920,234) (4,051,121) 130,887 (569,937)
============ ============= ============ =============
CenterPoint
Utility Energy CenterPoint
Holding, Houston Energy
LLC Electric LLC Resources Corp.
------------ ------------ ---------------
REVENUES -- 2,221,618 4,207,836
------------ ------------ ---------------
EXPENSES:
Fuel and cost of gas sold -- 18,683 2,900,682
Purchased power -- 47,665 --
Operation and maintenance 21 575,241 666,502
Depreciation and amortization -- 270,799 167,456
Taxes other than income taxes -- 212,988 119,911
------------ ------------ ---------------
Total 21 1,125,376 3,854,551
------------ ------------ ---------------
OPERATING INCOME (LOSS) (21) 1,096,242 353,285
------------ ------------ ---------------
OTHER INCOME (EXPENSE):
Unrealized loss on AOL Time Warner investment -- -- --
Unrealized gain on indexed debt securities -- -- --
Interest expense (25,089) (284,898) (153,688)
Distribution on trust preferred securities -- -- (25)
Other, net 318,941 21,988 8,131
------------ ------------ ---------------
Total 293,852 (262,910) (145,582)
------------ ------------ ---------------
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 293,831 833,332 207,703
INCOME TAX EXPENSE (7) 285,882 87,643
------------ ------------ ---------------
INCOME FROM CONTINUING OPERATIONS 293,838 547,450 120,060
INCOME FROM DISCONTINUED OPERATIONS OF RELIANT RESOURCES,
NET OF TAX -- -- --
INCOME FROM DISCONTINUED OPERATIONS OF LATIN AMERICA, NET OF TAX -- -- --
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX -- 131,949 --
LOSS ON DISPOSAL OF DISCONTINUED OPERATIONS OF RELIANT RESOURCES -- -- --
------------ ------------ ---------------
NET INCOME (LOSS) 293,838 679,399 120,060
============ ============ ===============
CenterPoint
Energy
Texas Genco International,
Holdings, Inc. Inc. Other
-------------- -------------- ------------
REVENUES 1,540,975 -- 16,664
-------------- -------------- ------------
EXPENSES:
Fuel and cost of gas sold 989,560 -- --
Purchased power 93,841 -- 908
Operation and maintenance 391,465 -- 10,084
Depreciation and amortization 156,740 -- 3,433
Taxes other than income taxes 42,930 -- 517
-------------- -------------- ------------
Total 1,674,536 -- 14,942
-------------- -------------- ------------
OPERATING INCOME (LOSS) (133,561) -- 1,722
-------------- -------------- ------------
OTHER INCOME (EXPENSE):
Unrealized loss on AOL Time Warner investment -- -- (499,704)
Unrealized gain on indexed debt securities -- -- --
Interest expense (25,637) -- (4,300)
Distribution on trust preferred securities -- -- (55,569)
Other, net 3,423 10,315 82,157
-------------- -------------- ------------
Total (22,214) 10,315 (477,416)
-------------- -------------- ------------
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (155,775) 10,315 (475,694)
INCOME TAX EXPENSE (62,832) 3,610 (166,713)
-------------- -------------- ------------
INCOME FROM CONTINUING OPERATIONS (92,943) 6,705 (308,981)
INCOME FROM DISCONTINUED OPERATIONS OF RELIANT RESOURCES, NET OF TAX -- -- --
INCOME FROM DISCONTINUED OPERATIONS OF LATIN AMERICA, NET OF TAX -- 2,746 --
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX -- -- --
LOSS ON DISPOSAL OF DISCONTINUED OPERATIONS OF RELIANT RESOURCES -- -- --
-------------- -------------- ------------
NET INCOME (LOSS) (92,943) 9,451 (308,981)
============== ============== ============
