0001130310-22-000063 | 10-Q | XBRL Viewer

Revenue Recognition and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

The following tables disaggregate revenues by reportable segment and major source:

CenterPoint Energy











	Three Months Ended March 31, 2022
	Electric		Natural Gas		Corporate and Other		Total
	(in millions)
Revenue from contracts	$	898	$	1,845	$	45	$	2,788
Other (1)	(5)		(21)		1		(25)

Total revenues	$	893	$	1,824	$	46	$	2,763










	Three Months Ended March 31, 2021
	Electric		Natural Gas		Corporate and Other		Total
	(in millions)
Revenue from contracts	$	833	$	1,655	$	53	$	2,541
Other (1)	(3)		8		1		6

Total revenues	$	830	$	1,663	$	54	$	2,547

(1)Primarily consists of income from ARPs and leases. Total lease income was $1 million and $2 million for the three months ended March 31, 2022 and 2021, respectively.

Houston Electric


	Three Months Ended March 31,
		2022		2021
		(in millions)
Revenue from contracts		$	756	$	687
Other (1)		(10)		(3)
Total revenues		$	746	$	684

(1)Primarily consists of income from ARPs and leases. Lease income was not significant for the three months ended March 31, 2022 and 2021.

CERC


	Three Months Ended March 31,
		2022		2021
		(in millions)
Revenue from contracts		$	1,409	$	1,172
Other (1)		(24)		5

Total revenues		$	1,385	$	1,177

(1)Primarily consists of income from ARPs and leases. Lease income was not significant for the three months ended March 31, 2022 and 2021.

Contract with Customer, Contract Asset, Contract Liability and Receivable

The opening and closing balances of accounts receivable related to ASC 606 revenues, other accrued unbilled revenue, contract assets and contract liabilities from contracts with customers, excluding balances related to assets held for sale, as of December 31, 2021 and March 31, 2022, respectively, are presented below.

CenterPoint Energy


	Accounts Receivable		Other Accrued Unbilled Revenues		Contract Assets		Contract Liabilities
	(in millions)
Opening balance as of December 31, 2021	$	627	$	513	$	15	$	16
Closing balance as of March 31, 2022	876		432		16		27
Increase (decrease)	$	249	$	(81)	$	1	$	11

The amount of revenue recognized during the three months ended March 31, 2022 that was included in the opening contract liability was $10 million. The difference between the opening and closing balances of the contract liabilities primarily results from the timing difference between CenterPoint Energy’s performance and the customer’s payment.

Houston Electric


	Accounts Receivable		Other Accrued Unbilled Revenues		Contract Liabilities
	(in millions)
Opening balance as of December 31, 2021	$	225	$	127	$	4
Closing balance as of March 31, 2022	247		95		8
Increase (decrease)	$	22	$	(32)	$	4

The amount of revenue recognized during the three months ended March 31, 2022 that was included in the opening contract liability was $1 million. The difference between the opening and closing balances of the contract liabilities primarily results from the timing difference between Houston Electric’s performance and the customer’s payment.

CERC


	Accounts Receivable		Other Accrued Unbilled Revenues
	(in millions)
Opening balance as of December 31, 2021	$	223	$	247
Closing balance as of March 31, 2022	408		209
Increase (decrease)	$	185	$	(38)

CERC does not have any opening or closing contract asset or contract liability balances.

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Remaining Performance Obligations (CenterPoint Energy). The table below discloses (1) the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period for contracts and (2) when CenterPoint Energy expects to recognize this revenue. Such contracts include energy performance and sustainable infrastructure services contracts of Energy Systems Group, which are included in Corporate and Other.


	Rolling 12 Months		Thereafter		Total
	(in millions)
Revenue expected to be recognized on contracts in place as of March 31, 2022:

Corporate and Other	$	224	$	535	$	759
	$	224	$	535	$	759

Condensed Statements of Consolidated Changes in Equity - CERC - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI Attributable to Parent
Balance, beginning of period (in shares) at Dec. 31, 2020		1,000,000,000
Balance, beginning of period at Dec. 31, 2020		$ 0	$ 2,046	$ 511	$ 10
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent	$ 0		0
Contribution to parent for sale of Arkansas and Oklahoma Natural Gas businesses	0		0
Other			0
Net income	151			151
Dividend to parent				0
Balance, end of period (in shares) at Mar. 31, 2021		1,000,000,000
Balance, end of period at Mar. 31, 2021	$ 2,718	$ 0	2,046	662	10
Balance, beginning of period (in shares) at Dec. 31, 2021	628,923,534	1,000
Balance, beginning of period at Dec. 31, 2021	$ 3,001	$ 0	2,226	765	10
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent	0		46
Contribution to parent for sale of Arkansas and Oklahoma Natural Gas businesses	720		(720)
Other			1
Net income	$ 554			554
Dividend to parent				(23)
Balance, end of period (in shares) at Mar. 31, 2022	629,432,406	1,000
Balance, end of period at Mar. 31, 2022	$ 2,859	$ 0	$ 1,553	$ 1,296	$ 10

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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Related Party Transactions (Houston Electric and CERC)

3 Months Ended

Mar. 31, 2022

Houston Electric and CERC participate in CenterPoint Energy’s money pool through which they can borrow or invest on a short-term basis. Funding needs are aggregated and external borrowing or investing is based on the net cash position. The net funding requirements of the CenterPoint Energy money pool are expected to be met with borrowings under CenterPoint Energy’s revolving credit facility or the sale of CenterPoint Energy’s commercial paper.

The table below summarizes CenterPoint Energy money pool activity:


	March 31, 2022						December 31, 2021
	Houston Electric			CERC			Houston Electric			CERC
	(in millions, except interest rates)
Money pool investments (borrowings) (1)	$	354		$	—		$	(512)		$	(224)
Weighted average interest rate	0.55		%	0.55		%	0.34		%	0.34		%

(1)Included in Accounts and notes receivable (payable)–affiliated companies on Houston Electric’s and CERC’s respective Condensed Consolidated Balance Sheets.

CenterPoint Energy provides some corporate services to Houston Electric and CERC. The costs of services have been charged directly to Houston Electric and CERC using methods that management believes are reasonable. These methods include usage rates, dedicated asset assignment and proportionate corporate formulas based on operating expenses, assets, gross margin, employees and a composite of assets, gross margin and employees. Houston Electric provides certain services to CERC. These services are billed at actual cost, either directly or as an allocation and include fleet services, shop services, geographic services, surveying and right-of-way services, radio communications, data circuit management and field operations. Additionally, CERC provides certain services to Houston Electric. These services are billed at actual cost, either directly or as an allocation and include line locating and other miscellaneous services. These charges are not necessarily indicative of what would have been incurred had Houston Electric and CERC not been affiliates.

Amounts charged for these services were as follows and are included primarily in operation and maintenance expenses:


	Three Months Ended March 31,
		2022	2021
			Houston Electric		CERC		Houston Electric		CERC
			(in millions)
Corporate service charges			$	39	$	45	$	43	$	50
Net affiliate service charges (billings)			(6)		6		(1)		1

The table below presents transactions among Houston Electric, CERC and their parent, CenterPoint Energy.


	Three Months Ended March 31,
		2022	2021
			Houston Electric		CERC		Houston Electric		CERC
			(in millions)
Cash dividends paid to parent			$	37	$	23	$	—	$	—
Cash dividend paid to parent related to the sale of the Arkansas and Oklahoma Natural Gas businesses			—		720		—		—
Cash contribution from parent			637		—		—		—
Non-cash capital contribution from parent in payment for property, plant and equipment below			38		46		—		—
Payable to parent for property, plant and equipment below			52		41		—		—
Property, plant and equipment from parent (1)			90		87		—		—

(1) Property, plant and equipment purchased from CenterPoint Energy at its net carrying value on the date of purchase.

Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial data for reportable segments is as follows, including Corporate and Other and Discontinued Operations for reconciliation purposes:

CenterPoint Energy














	Three Months Ended March 31,
	2022			2021
	Revenues from External Customers			Net Income		Revenues from External Customers			Net Income (Loss)
	(in millions)
Electric	$	893	(1)	$	82	$	830	(1)	$	75
Natural Gas	1,824			398		1,663			229

Corporate and Other	46			51		54			(24)

Continuing Operations	$	2,763		531		$	2,547		280
Discontinued Operations, net				—					83
Consolidated				$	531				$	363


	Total Assets
	March 31, 2022		December 31, 2021
	(in millions)
Electric	$	17,258	$	16,547
Natural Gas	16,306		16,267

Corporate and Other, net of eliminations (1)	1,638		2,527

Continuing Operations	35,202		35,341
Assets Held for Sale	—		2,338
Consolidated	$	35,202	$	37,679

(1)Total assets included pension and other postemployment-related regulatory assets of $423 million and $427 million as of March 31, 2022 and December 31, 2021, respectively.

Schedule of Revenue by Major Customers by Reporting Segments

Houston Electric revenues from major external customers are as follows (CenterPoint Energy and Houston Electric):


	Three Months Ended March 31,
			2022		2021
		(in millions)
Affiliates of NRG			$	225	$	195
Affiliates of Vistra Energy Corp.			105		88

Commitments and Contingencies

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(a)Purchase Obligations (CenterPoint Energy and CERC)

Commitments include minimum purchase obligations related to CenterPoint Energy’s and CERC’s Natural Gas reportable segment and CenterPoint Energy’s Electric reportable segment. A purchase obligation is defined as an agreement to purchase goods or services that is enforceable and legally binding on the registrant and that specifies all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. Contracts with minimum payment provisions have various quantity requirements and durations and are not classified as non-trading derivative assets and liabilities in CenterPoint Energy’s and CERC’s Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021. These contracts meet an exception as “normal purchases contracts” or do not meet the definition of a derivative. Natural gas and coal supply commitments also include transportation contracts that do not meet the definition of a derivative.

On February 9, 2021, Indiana Electric entered into a BTA with a subsidiary of Capital Dynamics. Pursuant to the BTA, Capital Dynamics, with its partner Tenaska, originally planned to build a 300 MW solar array in Posey County, Indiana through a special purpose entity, Posey Solar. Upon completion of construction, currently projected to be at the end of 2023, and subject to IURC approval, which was received on October 27, 2021, Indiana Electric will acquire Posey Solar and its solar array assets for a fixed purchase price. Due to rising cost for the project, caused in part by supply chain issues in the energy industry, the rising cost of commodities and community feedback, CenterPoint Energy, along with Capital Dynamics, announced plans in January 2022 to downsize the project to approximately 200 MW. Indiana Electric collaboratively agreed to the scope change and is currently working through contract negotiations, contingent on further IURC review and approval.

As of March 31, 2022, undiscounted minimum purchase obligations are approximately:


	CenterPoint Energy				CERC
	Natural Gas and Coal Supply		Other (1)		Natural Gas Supply
	(in millions)
Remaining nine months of 2022	$	521	$	99	$	348
2023	726		503		535
2024	638		181		507
2025	451		30		339
2026	324		30		246
2027	305		72		241
2028 and beyond	1,319		544		1,079

(1)CenterPoint Energy’s undiscounted minimum payment obligations related to PPAs with commitments ranging from 15 to 25 years and its purchase commitment under its BTA in Posey County, Indiana are included above. The remaining undiscounted payment obligations relate primarily to technology hardware and software agreements.

Excluded from the table above are estimates for cash outlays from other PPAs through Indiana Electric that do not have minimum thresholds but do require payment when energy is generated by the provider. Costs arising from certain of these commitments are pass-through costs, generally collected dollar-for-dollar from retail customers through regulator-approved cost recovery mechanisms.

(b) Guarantees and Product Warranties (CenterPoint Energy)

In the normal course of business, Energy Systems Group enters into contracts requiring it to timely install infrastructure, operate facilities, pay vendors and subcontractors and support warranty obligations and, at times, issue payment and performance bonds and other forms of assurance in connection with these contracts.

Specific to Energy Systems Group’s role as a general contractor in the performance contracting industry, as of March 31, 2022, there were 53 open surety bonds supporting future performance with an aggregate face amount of approximately $527 million. Energy Systems Group’s exposure is less than the face amount of the surety bonds and is limited to the level of uncompleted work under the contracts. As of March 31, 2022, approximately 39% of the work was yet to be completed on projects with open surety bonds. Further, various subcontractors issue surety bonds to Energy Systems Group. In addition to these performance obligations, Energy Systems Group also warrants the functionality of certain installed infrastructure generally for one year and the associated energy savings over a specified number of years. As of March 31, 2022, there were 37 warranties totaling $549 million and an additional $1.2 billion in energy savings commitments not guaranteed by Vectren. Since Energy Systems Group’s inception in 1994, CenterPoint Energy believes Energy Systems Group has had a history of generally meeting its performance obligations and energy savings guarantees and its installed products have operated effectively. CenterPoint Energy assessed the fair value of its obligation for such guarantees as of March 31, 2022 and no amounts were recorded on CenterPoint Energy’s Condensed Consolidated Balance Sheets.

CenterPoint Energy issues parent company level guarantees to certain vendors, customers and other commercial counterparties of Energy Systems Group. These guarantees do not represent incremental consolidated obligations, but rather, represent guarantees of subsidiary obligations to allow those subsidiaries to conduct business without posting other forms of assurance. As of March 31, 2022, CenterPoint Energy, primarily through Vectren, has issued parent company level guarantees supporting Energy Systems Group’s obligations. For those obligations where potential exposure can be estimated, management estimates the maximum exposure under these guarantees to be approximately $511 million as of March 31, 2022. This exposure primarily relates to energy savings guarantees on federal energy savings performance contracts. Other parent company level guarantees, certain of which do not contain a cap on potential liability, have been issued in support of federal operations and maintenance projects for which a maximum exposure cannot be estimated based on the nature of the projects. While there can be no assurance that performance under any of these parent company guarantees will not be required in the future, CenterPoint Energy considers the likelihood of a material amount being incurred as remote.

(c)Guarantees and Product Warranties (CenterPoint Energy and CERC)

On February 24, 2020, CenterPoint Energy, through its subsidiary CERC Corp., entered into the Equity Purchase Agreement to sell the Energy Services Disposal Group. The transaction closed on June 1, 2020. In the normal course of business prior to June 1, 2020, the Energy Services Disposal Group through CES, traded natural gas under supply contracts and entered into natural gas related transactions under transportation, storage and other contracts. In connection with the Energy Services Disposal Group’s business activities prior to the closing of the sale of the Energy Services Disposal Group on June 1, 2020, CERC Corp. issued guarantees to certain of CES’s counterparties to guarantee the payment of CES’s obligations. When CES remained wholly owned by CERC Corp., these guarantees did not represent incremental consolidated obligations, but rather, these guarantees represented guarantees of CES’s obligations to allow it to conduct business without posting other forms of assurance.

A CERC Corp. guarantee primarily had a one- or two-year term, although CERC Corp. would generally not be released from obligations incurred by CES prior to the termination of such guarantee unless the beneficiary of the guarantee affirmatively released CERC Corp. from its obligations under the guarantee. Throughout CERC Corp.’s ownership of CES and subsequent to the sale of the Energy Services Disposal Group through March 31, 2022, CERC Corp. did not pay any amounts under guarantees of CES’s obligations.

Under the terms of the Equity Purchase Agreement, Symmetry Energy Solutions Acquisition must generally use reasonable best efforts to replace existing CERC Corp. guarantees with credit support provided by a party other than CERC Corp. as of and after the closing of the transaction. Additionally, to the extent that CERC Corp. retains any exposure relating to certain guarantees of CES’s obligations 90 days after closing of the transaction, Symmetry Energy Solutions Acquisition will pay a 3% annualized fee on such exposure, increasing by 1% on an annualized basis every three months. As of March 31, 2022, management estimates approximately $6 million of exposure remained outstanding under CERC Corp. guarantees issued prior to the closing of the transaction on June 1, 2020. If CERC Corp. is required to pay a counterparty under a guarantee in respect of obligations of CES, Symmetry Energy Solutions Acquisition is required to promptly reimburse CERC Corp. for all amounts paid. While there can be no assurance that payment under any of these guarantees will not be required in the future, CenterPoint Energy and CERC consider the likelihood of a material amount being incurred as remote.

CenterPoint Energy and CERC recorded no amounts on their respective Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 related to the performance of these guarantees.

(d) Legal, Environmental and Other Matters

Legal Matters

Litigation Related to the February 2021 Winter Storm Event. Various legal matters are still proceeding with respect to the February 2021 Winter Storm Event. As of March, 31, 2022, CenterPoint Energy and Houston Electric have been named as a defendant in over 100 lawsuits related to the February 2021 Winter Storm Event. Like other Texas energy companies and TDUs, CenterPoint Energy and Houston Electric have become involved in certain investigations, litigation and other regulatory and legal proceedings regarding their efforts to restore power and their compliance with NERC, ERCOT and PUCT rules and directives. CenterPoint Energy and Houston Electric, along with ERCOT, power generation companies, other TDUs, retail electric providers, and other entities, have received, and may continue to receive, claims and lawsuits filed by plaintiffs alleging wrongful death, personal injury, property damage and other injuries and damages. CenterPoint Energy and Houston Electric, along with numerous other entities, have been named as defendants in such litigation, all of which is now pending in Texas state court in Harris County, Texas, as part of a multi-district litigation proceeding. The judge overseeing the multi-district litigation has issued an initial case management order, stayed discovery, and will first entertain dispositive motions in five representative or “bellwether” cases, which will likely be decided later this year and then likely appealed. CenterPoint Energy and Houston Electric intend to vigorously defend themselves against the claims raised.

CenterPoint Energy and Houston Electric have also responded to inquiries from the Texas Attorney General and the Galveston County District Attorney’s Office, and various other regulatory and governmental entities have conducted or are conducting inquiries, investigations and other reviews of the February 2021 Winter Storm Event and the efforts made by various entities to prepare for, and respond to, the event, including the electric generation shortfall issues. Such other entities include the United States Congress, FERC, NERC, Texas RE, ERCOT, Texas government entities and officials such as the Texas Governor’s office, the Texas Legislature, the PUCT, the City of Houston and other municipal and county entities in Houston Electric’s service territory.

Additionally, CenterPoint Energy and CERC have responded to inquiries from the Arkansas, Minnesota and Oklahoma Attorneys General. CenterPoint Energy, Houston Electric and CERC are unable to predict the outcome or consequences of any of the foregoing matters or to estimate a range of potential losses.

Environmental Matters

MGP Sites. CenterPoint Energy, CERC and their predecessors, including predecessors of Vectren, operated MGPs in the past. The costs CenterPoint Energy or CERC, as applicable, expect to incur to fulfill their respective obligations are estimated by management using assumptions based on actual costs incurred, the timing of expected future payments and inflation factors, among others. While CenterPoint Energy and CERC have recorded obligations for all costs which are probable and estimable, including amounts they are presently obligated to incur in connection with activities at these sites, it is possible that future events may require remedial activities which are not presently foreseen, and those costs may not be subject to PRP or insurance recovery.

(i)Minnesota MGPs (CenterPoint Energy and CERC). With respect to certain Minnesota MGP sites, CenterPoint Energy and CERC have completed state-ordered remediation and continue state-ordered monitoring and water treatment. CenterPoint Energy and CERC recorded a liability as reflected in the table below for continued monitoring and any future remediation required by regulators in Minnesota.

(ii)Indiana MGPs (CenterPoint Energy). In the Indiana Gas service territory, the existence, location and certain general characteristics of 26 gas manufacturing and storage sites have been identified for which CenterPoint Energy may have some remedial responsibility. A remedial investigation/feasibility study was completed at one of the sites under an agreed upon order between Indiana Gas and the IDEM, and a Record of Decision was issued by the IDEM in January 2000. The remaining sites have been submitted to the IDEM’s VRP. CenterPoint Energy has also identified its involvement in 5 manufactured gas plant sites in SIGECO’s service territory, all of which are currently enrolled in the IDEM’s VRP. CenterPoint Energy is currently conducting some level of remedial activities, including groundwater monitoring at certain sites.

(iii)Other MGPs (CenterPoint Energy and CERC). In addition to the Minnesota and Indiana sites, the EPA and other regulators have investigated MGP sites that were owned or operated by CenterPoint Energy or CERC or may have been owned by one of their former affiliates.

Total costs that may be incurred in connection with addressing these sites cannot be determined at this time. The estimated accrued costs are limited to CenterPoint Energy’s and CERC’s share of the remediation efforts and are therefore net of exposures of other PRPs. The estimated range of possible remediation costs for the sites for which CenterPoint Energy and CERC believe they may have responsibility was based on remediation continuing for the minimum time frame given in the table below.


	March 31, 2022
	CenterPoint Energy		CERC
	(in millions, except years)
Amount accrued for remediation	$	17	$	12
Minimum estimated remediation costs	12		9
Maximum estimated remediation costs	51		29
Minimum years of remediation	5		30
Maximum years of remediation	50		50

The cost estimates are based on studies of a site or industry average costs for remediation of sites of similar size. The actual remediation costs will depend on the number of sites to be remediated, the participation of other PRPs, if any, and the remediation methods used.

CenterPoint Energy and CERC do not expect the ultimate outcome of these matters to have a material adverse effect on the financial condition, results of operations or cash flows of either CenterPoint Energy or CERC.

Asbestos. Some facilities owned by the Registrants or their predecessors contain or have contained asbestos insulation and other asbestos-containing materials. The Registrants are from time to time named, along with numerous others, as defendants in lawsuits filed by a number of individuals who claim injury due to exposure to asbestos, and the Registrants anticipate that additional claims may be asserted in the future. Although their ultimate outcome cannot be predicted at this time, the Registrants do not expect these matters, either individually or in the aggregate, to have a material adverse effect on their financial condition, results of operations or cash flows.

CCR Rule (CenterPoint Energy). In April 2015, the EPA finalized its CCR Rule, which regulates ash as non-hazardous material under the RCRA. The final rule allows beneficial reuse of ash, and the majority of the ash generated by Indiana Electric’s generating plants will continue to be reused. In July 2018, the EPA released its final CCR Rule Phase I Reconsideration which extended the deadline to October 31, 2020 for ceasing placement of ash in ponds that exceed groundwater protections standards or that fail to meet location restrictions. In August 2019, the EPA proposed additional “Part A” amendments to its CCR Rule with respect to beneficial reuse of ash and other materials. Further “Part B” amendments, which related to alternate liners for CCR surface impoundments and the surface impoundment closure process, were published in March 2020. The Part A amendments were finalized in August 2020 and extended the deadline to cease placement of ash in ponds to April 11, 2021, discussed further below. The EPA published the final Part B amendments in November 2020. The Part A amendments do not restrict Indiana Electric’s current beneficial reuse of its fly ash. CenterPoint Energy evaluated the Part B amendments to determine potential impacts and determined that the Part B amendments did not have an impact on its current plans. Shortly after taking office in January 2021, President Biden signed an executive order requiring agencies to review environmental actions taken by the Trump administration, including the CCR Rule Phase I Reconsideration, the Part A amendments, and the Part B amendments; the EPA has completed its review of the Phase I Reconsideration, Part A amendments, and Part B amendments and determined that the most environmentally protective course is to implement the rules.

Indiana Electric has three ash ponds, two at the F.B. Culley facility (Culley East and Culley West) and one at the A.B. Brown facility. Under the existing CCR Rule, Indiana Electric is required to perform integrity assessments, including ground water monitoring, at its F.B. Culley and A.B. Brown generating stations. The ground water studies are necessary to determine the remaining service life of the ponds and whether a pond must be retrofitted with liners or closed in place. Indiana Electric’s Warrick generating unit is not included in the scope of the CCR Rule as this unit has historically been part of a larger generating station that predominantly serves an adjacent industrial facility. Preliminary groundwater monitoring indicates potential groundwater impacts very close to Indiana Electric’s ash impoundments, and further analysis is ongoing. The CCR Rule required companies to complete location restriction determinations by October 18, 2018. Indiana Electric completed its evaluation and determined that one F.B. Culley pond (Culley East) and the A.B. Brown pond fail the aquifer placement location

restriction. As a result of this failure, Indiana Electric was required to cease disposal of new ash in the ponds and commence closure of the ponds by April 11, 2021, unless approved for an extension. CenterPoint Energy has applied for the extensions available under the CCR Rule that would allow Indiana Electric to continue to use the ponds through October 15, 2023. The EPA is still reviewing industry extension requests, including CenterPoint Energy’s extension request. Companies can continue to operate ponds pending completion of the EPA’s evaluation of the requests for extension. If the EPA denies a full extension request, that denial may result in increased and potentially significant operational costs in connection with the accelerated implementation of an alternative ash disposal system or may adversely impact Indiana Electric’s future operations. Failure to comply with a cease waste receipt could also result in an enforcement proceeding, resulting in the imposition of fines and penalties. On April 24, 2019, Indiana Electric received an order from the IURC approving recovery in rates of costs associated with the closure of the Culley West pond, which has already completed closure activities. On August 14, 2019, Indiana Electric filed its petition with the IURC for recovery of costs associated with the closure of the A.B. Brown ash pond, which would include costs associated with the excavation and recycling of ponded ash. This petition was subsequently approved by the IURC on May 13, 2020. On October 28, 2020, the IURC approved Indiana Electric’s ECA proceeding, which included the initiation of recovery of the federally mandated project costs.

Indiana Electric continues to refine site specific estimates of closure costs for its 10-acre Culley East pond. In July 2018, Indiana Electric filed a Complaint for Damages and Declaratory Relief against its insurers seeking reimbursement of defense, investigation and pond closure costs incurred to comply with the CCR Rule, and has since reached confidential settlement agreements with its insurers. The proceeds of these settlements will offset costs that have been and will be incurred to close the ponds.

As of March 31, 2022, CenterPoint Energy has recorded an approximate $90 million ARO, which represents the discounted value of future cash flow estimates to close the ponds at A.B. Brown and F.B. Culley. This estimate is subject to change due to the contractual arrangements; continued assessments of the ash, closure methods, and the timing of closure; implications of Indiana Electric’s generation transition plan; changing environmental regulations; and proceeds received from the settlements in the aforementioned insurance proceeding. In addition to these AROs, Indiana Electric also anticipates equipment purchases of between $60 million and $80 million to complete the A.B. Brown closure project.

Clean Water Act Permitting of Groundwater Discharges. In April 2021, the U.S. Supreme Court issued an opinion providing that indirect discharges via groundwater or other non-point sources are subject to permitting and liability under the Clean Water Act when they are the functional equivalent of a direct discharge. The Registrants are evaluating the extent to which this decision will affect Clean Water Act permitting requirements and/or liability for their operations.

Other Environmental. From time to time, the Registrants identify the presence of environmental contaminants during operations or on property where their predecessors have conducted operations. Other such sites involving contaminants may be identified in the future. The Registrants have and expect to continue to remediate any identified sites consistent with state and federal legal obligations. From time to time, the Registrants have received notices, and may receive notices in the future, from regulatory authorities or others regarding status as a PRP in connection with sites found to require remediation due to the presence of environmental contaminants. In addition, the Registrants have been, or may be, named from time to time as defendants in litigation related to such sites. Although the ultimate outcome of such matters cannot be predicted at this time, the Registrants do not expect these matters, either individually or in the aggregate, to have a material adverse effect on their financial condition, results of operations or cash flows.

Other Proceedings

The Registrants are involved in other legal, environmental, tax and regulatory proceedings before various courts, regulatory commissions and governmental agencies regarding matters arising in the ordinary course of business. From time to time, the Registrants are also defendants in legal proceedings with respect to claims brought by various plaintiffs against broad groups of participants in the energy industry. Some of these proceedings involve substantial amounts. The Registrants regularly analyze current information and, as necessary, provide accruals for probable and reasonably estimable liabilities on the eventual disposition of these matters. The Registrants do not expect the disposition of these matters to have a material adverse effect on the Registrants’ financial condition, results of operations or cash flows.

Background and Basis of Presentation (Policies)	3 Months Ended
Background and Basis of Presentation (Policies)	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation. The preparation of the Registrants’ financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Interim Condensed Financial Statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the respective periods. Amounts reported in the Condensed Statements of Consolidated Income are not necessarily indicative of amounts expected for a full-year period due to the effects of, among other things, (a) seasonal fluctuations in demand for energy, (b) changes in energy commodity prices, (c) timing of maintenance and other expenditures and (d) acquisitions and dispositions of businesses, assets and other interests. Certain prior year amounts have been reclassified to conform to the current year reportable segment presentation described in Note 15 and to reflect the impacts of discontinued operations.
Fair Value Measurements	Assets and liabilities that are recorded at fair value in the Registrants’ Condensed Consolidated Balance Sheets are categorized based upon the level of judgment associated with the inputs used to measure their value. Hierarchical levels, as defined below and directly related to the amount of subjectivity associated with the inputs to fair valuations of these assets and liabilities, are as follows: Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. The types of assets carried at Level 1 fair value generally are exchange-traded derivatives and equity securities. Level 2: Inputs, other than quoted prices included in Level 1, are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar instruments in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Fair value assets and liabilities that are generally included in this category are derivatives with fair values based on inputs from actively quoted markets. A market approach is utilized to value the Registrants’ Level 2 natural gas derivative assets or liabilities. CenterPoint Energy’s Level 2 indexed debt securities derivative is valued using an option model and a discounted cash flow model, which uses projected dividends on the ZENS-Related Securities and a discount rate as observable inputs. Level 3: Inputs are unobservable for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Unobservable inputs reflect the Registrants’ judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. The Registrants develop these inputs based on the best information available, including the Registrants’ own data. The Registrants determine the appropriate level for each financial asset and liability on a quarterly basis.
Earnings Per Share	The two-class method uses an earnings allocation formula that treats participating securities as having rights to earnings that otherwise would have been available only to common shareholders. Under the two-class method, income (loss) available to common shareholders from continuing operations is derived by subtracting the following from income (loss) from continuing operations: •preferred share dividend requirement; •deemed dividends for the amortization of the beneficial conversion feature recognized at issuance of the Series C Preferred Stock; and •an allocation of undistributed earnings to preferred shareholders of participating securities (Series C Preferred Stock) based on the securities’ right to receive dividends. Undistributed earnings are calculated by subtracting dividends declared on Common Stock, the preferred share dividend requirement and deemed dividends for the amortization of the beneficial conversion feature from net income. Net losses are not allocated to the Series C Preferred Stock as it does not have a contractual obligation to share in the losses of CenterPoint Energy. Basic earnings per common share is computed by dividing income available to common shareholders from continuing operations by the basic weighted average number of common shares outstanding during the period. Participating securities are excluded from basic weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing income available to common shareholders from continuing operations by the weighted average number of common shares outstanding, including all potentially dilutive common shares, if the effect of such common shares is dilutive. Diluted earnings per share reflects the dilutive effect of potential common shares from share-based awards and convertible preferred shares. The dilutive effect of Series B Preferred Stock and Series C Preferred Stock is computed using the if-converted method, as applicable, which assumes conversion of Series B Preferred Stock and Series C Preferred Stock at the beginning of the period, giving income recognition for the add-back of the preferred share dividends, amortization of beneficial conversion feature, and undistributed earnings allocated to preferred shareholders. The dilutive effect of restricted stock is computed using the treasury stock method, as applicable, which includes the incremental shares that would be hypothetically vested in excess of the number of shares assumed to be hypothetically repurchased with the assumed proceeds.
Revenues from Contract with Customers	Revenues from Contracts with Customers In accordance with ASC 606, Revenue from Contracts with Customers, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Registrants expect to be entitled to receive in exchange for these goods or services. ARPs are contracts between the utility and its regulators, not between the utility and a customer. The Registrants recognize ARP revenue as other revenues when the regulator-specified conditions for recognition have been met. Upon recovery of ARP revenue through incorporation in rates charged for utility service to customers, ARP revenue is reversed and recorded as revenue from contracts with customers. The recognition of ARP revenues and the reversal of ARP revenues upon recovery through rates charged for utility service may not occur in the same period. Revenues from Contracts with Customers Electric (CenterPoint Energy and Houston Electric). Houston Electric transmits and distributes electricity to customers over time, and customers consume the electricity when delivered. Indiana Electric generates, transmits and distributes electricity to customers over time, and customers consume the electricity when delivered. Revenue, consisting of both volumetric and fixed tariff rates set by state regulators, such as the PUCT and the IURC, is recognized as electricity is delivered and represents amounts both billed and unbilled. Discretionary services requested by customers are provided at a point in time with control transferring upon the completion of the service. Revenue for discretionary services provided by Houston Electric is recognized upon completion of service based on the tariff rates set by the PUCT. Payments for electricity distribution and discretionary services are aggregated and received on a monthly basis. Houston Electric performs transmission services over time as a stand-ready obligation to provide a reliable network of transmission systems. Revenue is recognized upon time elapsed, and the monthly tariff rate set by the regulator. Payments are received on a monthly basis. Indiana Electric customers are billed monthly and payment terms, set by the regulator, require payment within a month of billing. Natural Gas (CenterPoint Energy and CERC). CenterPoint Energy and CERC distribute and transport natural gas to customers over time, and customers consume the natural gas when delivered. Revenue, consisting of both volumetric and fixed tariff rates set by the state governing agency for that service area, is recognized as natural gas is delivered and represents amounts both billed and unbilled. Discretionary services requested by the customer are satisfied at a point in time and revenue is recognized upon completion of service and the tariff rates set by the applicable state regulator. Payments of natural gas distribution, transportation and discretionary services are aggregated and received on a monthly basis. Contract Balances. When the timing of delivery of service is different from the timing of the payments made by customers and when the right to consideration is conditioned on something other than the passage of time, the Registrants recognize either a contract asset (performance precedes billing) or a contract liability (customer payment precedes performance). Those customers that prepay are represented by contract liabilities until the performance obligations are satisfied. The Registrants’ contract assets are included in Accrued unbilled revenues in their Condensed Consolidated Balance Sheets. As of March 31, 2022, CenterPoint Energy’s contract assets primarily relate to Energy Systems Group contracts where revenue is recognized using the input method. The Registrants’ contract liabilities are included in Accounts payable and Other current liabilities in their Condensed Consolidated Balance Sheets. As of March 31, 2022, CenterPoint Energy’s contract liabilities primarily relate to Energy Systems Group contracts where revenue is recognized using the input method.
Allowance for Credit Losses	CenterPoint Energy and CERC segregate financial assets that fall under the scope of Topic 326, primarily trade receivables due in one year or less, into portfolio segments based on shared risk characteristics, such as geographical location and regulatory environment, for evaluation of expected credit losses. Historical and current information, such as average write-offs, are applied to each portfolio segment to estimate the allowance for losses on uncollectible receivables. Additionally, the allowance for losses on uncollectible receivables is adjusted for reasonable and supportable forecasts of future economic conditions, which can include changing weather, commodity prices, regulations, and macroeconomic factors, among others. Houston Electric recognizes losses on financial assets that fall under the scope of Topic 326. Losses on financial assets are primarily recoverable through regulatory mechanisms and do not materially impact Houston Electric's allowance for credit losses.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 20
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123372394&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130566-203045

+ Details

Condensed Statements of Consolidated Cash Flows - Houston Electric - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net income	$ 554	$ 151
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	72	80
Deferred income taxes	196	41
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	(176)	(41)
Accounts receivable/payable–affiliated companies	90	(5)
Inventory	133	64
Accounts payable	(74)	(10)
Net regulatory assets and liabilities	125	(2,065)
Other current assets and liabilities	(14)	7
Other non-current assets and liabilities	(3)	(10)
Other operating activities, net	1	1
Net cash provided by (used in) operating activities	347	(1,787)
Cash Flows from Investing Activities:
Capital expenditures	(197)	(133)
Increase in notes receivable–affiliated companies	(354)	(665)
Other investing activities, net	(3)	2
Net cash provided by (used in) investing activities	1,860	(131)
Cash Flows from Financing Activities:
Proceeds from long-term debt	0	1,699
Payments of long-term debt, including make-whole premiums	(425)	0
Decrease in notes payable–affiliated companies	(512)	(8)
Dividend to parent	(743)	0
Contribution from parent	0	0
Payment of debt issuance costs	0	(6)
Payment of obligation for finance lease	0	0
Other, net	0	(1)
Net cash provided by (used in) financing activities	(2,211)	1,918
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(4)	0
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	8	1
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 4	$ 1

Condensed Statements of Consolidated Comprehensive Income - CERC - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income	$ 554	$ 151
Comprehensive income	$ 554	$ 151

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Short-term Borrowings and Long-term Debt - Debt Repayments and Redemptions (Details) - USD ($) $ in Millions			1 Months Ended	3 Months Ended
	Mar. 31, 2022	Jan. 31, 2022	Mar. 31, 2022	Mar. 31, 2022
Long-term Debt
Debt Instrument [Line Items]
Principal amount of debt issued	$ 1,030		$ 1,030	$ 1,030
CERC Senior Notes Floating Rate due 2023 \| Senior Notes \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.50%
CERC Senior Notes Floating Rate due 2023 \| Long-term Debt \| Senior Notes
Debt Instrument [Line Items]
Principal amount of debt issued	425		425	$ 425
Outstanding debt balance		$ 1,000
Debt instrument, redemption price (as a percent)		100.00%
CNP First Mortgage Bonds Due 2022 \| Long-term Debt \| First Mortgage Bonds
Debt Instrument [Line Items]
Principal amount of debt issued	$ 5		$ 5	$ 5
Interest rate of debt (as a percent)	0.82%		0.82%	0.82%
CNP Senior Note 3.85% \| Long-term Debt \| Senior Notes
Debt Instrument [Line Items]
Principal amount of debt issued	$ 250		$ 250	$ 250
Interest rate of debt (as a percent)	3.85%		3.85%	3.85%
Debt instrument, redemption price (as a percent)	100.00%
Accrued and unpaid interest	$ 2		$ 2	$ 2
Write off of issuance costs			1
Make-whole premium	7		7	7
Total redemption price	260
CNP Senior Notes Due 2028 \| Long-term Debt \| Senior Notes
Debt Instrument [Line Items]
Principal amount of debt issued	$ 350		$ 350	$ 350
Interest rate of debt (as a percent)	4.25%		4.25%	4.25%
Outstanding debt balance	$ 500		$ 500	$ 500
Debt instrument, redemption price (as a percent)	100.00%
Accrued and unpaid interest	$ 6		6	6
Write off of issuance costs	3
Make-whole premium	34		$ 34	$ 34
Total redemption price	$ 393

Short-term Borrowings and Long-term Debt - Debt Transactions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
General Mortgage Bonds
Debt Instrument [Line Items]
Principal amount of debt issued	$ 800
Proceeds from issuance of long-term debt, net of discounts and issuance expenses and fees	784
Senior Note and GMBs
Debt Instrument [Line Items]
Principal amount of debt issued	800
General Mortgage Bonds Due 2031 \| General Mortgage Bonds
Debt Instrument [Line Items]
Principal amount of debt issued	$ 300
Interest rate of debt (as a percent)	3.00%
General Mortgage Bonds Due 2051 \| General Mortgage Bonds
Debt Instrument [Line Items]
Principal amount of debt issued	$ 500
Interest rate of debt (as a percent)	3.60%

Condensed Statements of Consolidated Income - CERC - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Utility revenues	$ 1,376	$ 1,168
Non-utility revenues	9	9
Total	1,385	1,177
Expenses:
Utility natural gas, fuel and purchased power	857	623
Non-utility cost of revenues, including natural gas	1	2
Operation and maintenance	187	198
Depreciation and amortization	72	80
Taxes other than income taxes	56	56
Total	1,173	959
Operating Income	212	218
Other Income (Expense):
Gain on sale	557	0
Interest expense and other finance charges	(21)	(24)
Other income, net	0	(1)
Total	536	(25)
Income from Continuing Operations Before Income Taxes	748	193
Income tax expense	194	42
Net Income	$ 554	$ 151

Revenue Recognition and Allowance for Credit Losses - Remaining Performance Obligations (Details) $ in Millions	Mar. 31, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 759
Corporate and Other
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 759
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction, period	1 year
Revenue expected to be recognized	$ 224
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 \| Corporate and Other
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 224
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction, period
Revenue expected to be recognized	$ 535
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 \| Corporate and Other
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 535

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy) - Schedule of Sale of Equity Securities (CenterPoint Energy) (Details) - Energy Transfer Common Units - USD ($) $ in Millions	1 Months Ended	2 Months Ended
	Mar. 31, 2022	Mar. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Units sold (in shares)		50,999,768
Proceeds from sale of units		$ 515
Energy Transfer Series G Preferred Units
Debt and Equity Securities, FV-NI [Line Items]
Units sold (in shares)	192,390
Proceeds from sale of units	$ 187

Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

The Registrants reported the following effective tax rates:


	Three Months Ended March 31,
		2022		2021
CenterPoint Energy - Continuing operations (1)		27	%	15	%
CenterPoint Energy - Discontinued operations		—	%	23	%
Houston Electric (2)		22	%	13	%
CERC (3)		26	%	22	%

(1)CenterPoint Energy’s higher effective tax rate on income from continuing operations for the three months ended March 31, 2022 compared to the three months ended March 31, 2021 was primarily driven by the impact of the non-deductible goodwill associated with the sale of the Natural Gas businesses in Arkansas and Oklahoma, and a decrease in EDIT amortization of the net regulatory EDIT liability.

(2)Houston Electric’s higher effective tax rate for the three months ended March 31, 2022 compared to the same period in 2021 was primarily driven by a decrease in the amount of amortization of the net regulatory EDIT liability.

(3)CERC’s higher effective tax rate for the three months ended March 31, 2022 compared to the same period ended March 31, 2021 was primarily driven by the impact of the non-deductible goodwill associated with the sale of the Natural Gas businesses in Arkansas and Oklahoma, and an increase in EDIT amortization of the net regulatory EDIT liability.

CenterPoint Energy reported a net uncertain tax liability, inclusive of interest and penalties, of $4 million as of March 31, 2022. The Registrants believe that it is reasonably possible that a decrease of up to $3 million in unrecognized tax benefits may occur in the next 12 months as a result of a lapse of statutes on older exposures, a tax settlement, and/or a resolution of open audits.

Tax Audits and Settlements. Tax years through 2018 have been audited and settled with the IRS for CenterPoint Energy. For the 2019-2022 tax years, the Registrants are participants in the IRS’s Compliance Assurance Process. Vectren’s pre-Merger

2014-2019 tax years are currently under audit by the IRS.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Revenue Recognition and Allowance for Credit Losses

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition and Allowance for Credit Losses

Revenues from Contracts with Customers

In accordance with ASC 606, Revenue from Contracts with Customers, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Registrants expect to be entitled to receive in exchange for these goods or services.

ARPs are contracts between the utility and its regulators, not between the utility and a customer. The Registrants recognize ARP revenue as other revenues when the regulator-specified conditions for recognition have been met. Upon recovery of ARP revenue through incorporation in rates charged for utility service to customers, ARP revenue is reversed and recorded as revenue from contracts with customers. The recognition of ARP revenues and the reversal of ARP revenues upon recovery through rates charged for utility service may not occur in the same period.

The following tables disaggregate revenues by reportable segment and major source:

CenterPoint Energy











	Three Months Ended March 31, 2022
	Electric		Natural Gas		Corporate and Other		Total
	(in millions)
Revenue from contracts	$	898	$	1,845	$	45	$	2,788
Other (1)	(5)		(21)		1		(25)

Total revenues	$	893	$	1,824	$	46	$	2,763










	Three Months Ended March 31, 2021
	Electric		Natural Gas		Corporate and Other		Total
	(in millions)
Revenue from contracts	$	833	$	1,655	$	53	$	2,541
Other (1)	(3)		8		1		6

Total revenues	$	830	$	1,663	$	54	$	2,547

(1)Primarily consists of income from ARPs and leases. Total lease income was $1 million and $2 million for the three months ended March 31, 2022 and 2021, respectively.

Houston Electric


	Three Months Ended March 31,
		2022		2021
		(in millions)
Revenue from contracts		$	756	$	687
Other (1)		(10)		(3)
Total revenues		$	746	$	684

(1)Primarily consists of income from ARPs and leases. Lease income was not significant for the three months ended March 31, 2022 and 2021.

CERC


	Three Months Ended March 31,
		2022		2021
		(in millions)
Revenue from contracts		$	1,409	$	1,172
Other (1)		(24)		5

Total revenues		$	1,385	$	1,177

(1)Primarily consists of income from ARPs and leases. Lease income was not significant for the three months ended March 31, 2022 and 2021.

Revenues from Contracts with Customers

Electric (CenterPoint Energy and Houston Electric). Houston Electric transmits and distributes electricity to customers over time, and customers consume the electricity when delivered. Indiana Electric generates, transmits and distributes electricity to customers over time, and customers consume the electricity when delivered. Revenue, consisting of both volumetric and fixed tariff rates set by state regulators, such as the PUCT and the IURC, is recognized as electricity is delivered and represents amounts both billed and unbilled. Discretionary services requested by customers are provided at a point in time with control transferring upon the completion of the service. Revenue for discretionary services provided by Houston Electric is recognized upon completion of service based on the tariff rates set by the PUCT. Payments for electricity distribution and discretionary services are aggregated and received on a monthly basis. Houston Electric performs transmission services over time as a stand-ready obligation to provide a reliable network of transmission systems. Revenue is recognized upon time elapsed, and the monthly tariff rate set by the regulator. Payments are received on a monthly basis. Indiana Electric customers are billed monthly and payment terms, set by the regulator, require payment within a month of billing.

Natural Gas (CenterPoint Energy and CERC). CenterPoint Energy and CERC distribute and transport natural gas to customers over time, and customers consume the natural gas when delivered. Revenue, consisting of both volumetric and fixed tariff rates set by the state governing agency for that service area, is recognized as natural gas is delivered and represents amounts both billed and unbilled. Discretionary services requested by the customer are satisfied at a point in time and revenue is recognized upon completion of service and the tariff rates set by the applicable state regulator. Payments of natural gas distribution, transportation and discretionary services are aggregated and received on a monthly basis.

Contract Balances. When the timing of delivery of service is different from the timing of the payments made by customers and when the right to consideration is conditioned on something other than the passage of time, the Registrants recognize either a contract asset (performance precedes billing) or a contract liability (customer payment precedes performance). Those customers that prepay are represented by contract liabilities until the performance obligations are satisfied. The Registrants’ contract assets are included in Accrued unbilled revenues in their Condensed Consolidated Balance Sheets. As of March 31, 2022, CenterPoint Energy’s contract assets primarily relate to Energy Systems Group contracts where revenue is recognized using the input method. The Registrants’ contract liabilities are included in Accounts payable and Other current liabilities in their Condensed Consolidated Balance Sheets. As of March 31, 2022, CenterPoint Energy’s contract liabilities primarily relate to Energy Systems Group contracts where revenue is recognized using the input method.

CenterPoint Energy


	Accounts Receivable		Other Accrued Unbilled Revenues		Contract Assets		Contract Liabilities
	(in millions)
Opening balance as of December 31, 2021	$	627	$	513	$	15	$	16
Closing balance as of March 31, 2022	876		432		16		27
Increase (decrease)	$	249	$	(81)	$	1	$	11

Houston Electric


	Accounts Receivable		Other Accrued Unbilled Revenues		Contract Liabilities
	(in millions)
Opening balance as of December 31, 2021	$	225	$	127	$	4
Closing balance as of March 31, 2022	247		95		8
Increase (decrease)	$	22	$	(32)	$	4

CERC


	Accounts Receivable		Other Accrued Unbilled Revenues
	(in millions)
Opening balance as of December 31, 2021	$	223	$	247
Closing balance as of March 31, 2022	408		209
Increase (decrease)	$	185	$	(38)

CERC does not have any opening or closing contract asset or contract liability balances.


	Rolling 12 Months		Thereafter		Total
	(in millions)
Revenue expected to be recognized on contracts in place as of March 31, 2022:

Corporate and Other	$	224	$	535	$	759
	$	224	$	535	$	759

Practical Expedients and Exemption. Sales taxes and other similar taxes collected from customers are excluded from the transaction price. For contracts for which revenue from the satisfaction of the performance obligations is recognized in the amount invoiced, the practical expedient was elected and revenue expected to be recognized on these contracts has not been disclosed.

Allowance for Credit Losses

CenterPoint Energy and CERC segregate financial assets that fall under the scope of Topic 326, primarily trade receivables due in one year or less, into portfolio segments based on shared risk characteristics, such as geographical location and regulatory environment, for evaluation of expected credit losses. Historical and current information, such as average write-offs, are applied to each portfolio segment to estimate the allowance for losses on uncollectible receivables. Additionally, the allowance for losses on uncollectible receivables is adjusted for reasonable and supportable forecasts of future economic conditions, which can include changing weather, commodity prices, regulations, and macroeconomic factors, among others. Houston Electric recognizes losses on financial assets that fall under the scope of Topic 326. Losses on financial assets are primarily recoverable through regulatory mechanisms and do not materially impact Houston Electric's allowance for credit losses. For a discussion of regulatory deferrals related to the February 2021 Winter Storm Event, see Note 6.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Supplemental Disclosure of Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

The table below provides supplemental disclosure of cash flow information:


	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Cash Payments/Receipts:
Interest, net of capitalized interest	$	134	$	63	$	24	$	159	$	70	$	21
Income tax refunds, net	(15)		—		—		(4)		—		—
Non-cash transactions:
Accounts payable related to capital expenditures	307		232		79		166		140		56
ROU assets obtained in exchange for lease liabilities (1)	—		—		—		1		—		—

(1) Excludes ROU assets obtained through prepayment of the lease liabilities. See Note 19.

The table below provides a reconciliation of cash, cash equivalents and restricted cash reported in the Condensed Consolidated Balance Sheets to the amount reported in the Condensed Statements of Consolidated Cash Flows:


	March 31, 2022						December 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Cash and cash equivalents (1)	$	125	$	104	$	4	$	230	$	214	$	8
Restricted cash included in Prepaid expenses and other current assets	22		18		—		24		19		—

Total cash, cash equivalents and restricted cash shown in Condensed Statements of Consolidated Cash Flows	$	147	$	122	$	4	$	254	$	233	$	8

(1)Houston Electric’s Cash and cash equivalents as of March 31, 2022 and December 31, 2021 included $104 million and $92 million, respectively, of cash related to the Bond Companies.

Divestitures (CenterPoint Energy and CERC) - Schedule of Pre-tax Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from Continuing Operations Before Income Taxes	$ 748	$ 193
Arkansas and Oklahoma Natural Gas Businesses \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from Continuing Operations Before Income Taxes	$ 9	$ 52

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy)

(a) Equity Securities

During the three months ended March 31, 2022, CenterPoint Energy executed its previously announced plan to exit the midstream sector by selling the remaining Energy Transfer Common Units and Energy Transfer Series G Preferred Units it held

as discussed below. CenterPoint Energy used the proceeds from the these sales to redeem outstanding debt and pay incurred expenses associated with the early redemptions. See Note 11 for further information.

CenterPoint Energy’s sales of equity securities during the three months ended March 31, 2022 are as follows:


Equity Security/Date Sold	Units Sold	Proceeds (1)
		(in millions)
Energy Transfer Common Units
February and March 2022	50,999,768	$	515
Energy Transfer Series G Preferred Units
March 2022	192,390	$	187

(1)Proceeds are net of transaction costs.

Gains and losses on equity securities, net of transaction costs, are recorded in Loss on Equity Securities in CenterPoint Energy’s Statements of Consolidated Income.


	Gains (Losses) on Equity Securities
	Three Months Ended March 31,
	2022		2021
	(in millions)
AT&T Common	$	(10)	$	15
Charter Common	(93)		(38)
Energy Transfer Common Units	95		—
Energy Transfer Series G Preferred Units	(9)		—

	$	(17)	$	(23)

CenterPoint Energy recorded net unrealized losses of $103 million and $23 million for the three months ended March 31, 2022 and 2021 respectively, for equity securities held as of March 31, 2022 and 2021.

CenterPoint Energy and its subsidiaries hold shares of certain securities detailed in the table below, which are classified as trading securities. Shares of AT&T Common and Charter Common are expected to be held to facilitate CenterPoint Energy’s ability to meet its obligation under the ZENS.


	Shares Held		Carrying Value
	March 31, 2022	December 31, 2021	March 31, 2022		December 31, 2021
			(in millions)
AT&T Common	10,212,945	10,212,945	$	241	$	251
Charter Common	872,503	872,503	476		569
Energy Transfer Common Units	—	50,999,768	—		420
Energy Transfer Series G Preferred Units	—	192,390	—		196
Other			3		3
			$	720	$	1,439

(b) ZENS

In September 1999, CenterPoint Energy issued ZENS having an original principal amount of $1.0 billion of which $828 million remained outstanding as of March 31, 2022. Each ZENS is exchangeable at the holder’s option at any time for an amount of cash equal to 95% of the market value of the reference shares attributable to such note. The number and identity of the reference shares attributable to each ZENS are adjusted for certain corporate events.

CenterPoint Energy’s reference shares for each ZENS consisted of the following:


	March 31, 2022	December 31, 2021
	(in shares)
AT&T Common	0.7185	0.7185
Charter Common	0.061382	0.061382

CenterPoint Energy pays interest on the ZENS at an annual rate of 2% plus the amount of any quarterly cash dividends paid in respect of the reference shares attributable to the ZENS. The principal amount of the ZENS is subject to increases or decreases to the extent that the annual yield from interest and cash dividends on the reference shares attributable to the ZENS is less than or more than 2.309%. The adjusted principal amount is defined in the ZENS instrument as “contingent principal.” As of March 31, 2022, the ZENS, having an original principal amount of $828 million and a contingent principal amount of $33 million, were outstanding and were exchangeable, at the option of the holders, for cash equal to 95% of the market value of the reference shares attributable to the ZENS.

On May 17, 2021, AT&T announced that it had entered into a definitive agreement with Discovery, Inc. to combine their media assets into a new publicly traded company, Warner Bros. Discovery. The transaction closed on April 8, 2022. Pursuant to the definitive agreement, AT&T shareholders received 0.241917 shares of WBD Common for each share of AT&T Common owned, representing 71% of the new company. Upon the closing of the transaction, reference shares attributable to ZENS now consist of 0.7185 shares of AT&T Common, 0.061382 shares of Charter Common and 0.173817 shares of WBD Common.

Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
Reportable Segments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Operating revenues	$ 1,385	$ 1,177
Net income (loss)	531	280
Income from Discontinued Operations (net of tax expense of $—, $25, respectively)	0	83
Net income	554	151
Assets	9,243		$ 11,110
Assets Held for Sale	0		2,338
Continuing Operations
Segment Reporting Information [Line Items]
Assets	35,202		35,341
Affiliates of NRG Energy, Inc.
Segment Reporting Information [Line Items]
Operating revenues	225	195
Affiliates of Vistra Energy Corp.
Segment Reporting Information [Line Items]
Operating revenues	105	88
Electric \| Affiliates of NRG Energy, Inc.
Segment Reporting Information [Line Items]
Operating revenues	225	195
Electric \| Affiliates of Vistra Energy Corp.
Segment Reporting Information [Line Items]
Operating revenues	105	88
Natural Gas
Segment Reporting Information [Line Items]
Operating revenues	1,824	1,663
Corporate and Other
Segment Reporting Information [Line Items]
Operating revenues	46	54
Corporate and Other \| Pension and Other Postretirement Plans Costs
Segment Reporting Information [Line Items]
Regulatory assets	423		427
Operating Segments \| Electric
Segment Reporting Information [Line Items]
Operating revenues	893	830
Net income (loss)	82	75
Assets	17,258		16,547
Operating Segments \| Natural Gas
Segment Reporting Information [Line Items]
Operating revenues	1,824	1,663
Net income (loss)	398	229
Assets	16,306		16,267
Operating Segments \| Corporate and Other
Segment Reporting Information [Line Items]
Operating revenues	46	54
Net income (loss)	51	$ (24)
Assets	$ 1,638		$ 2,527

Condensed Statements of Consolidated Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Income tax expense (benefit) from discontinued operations	$ 0	$ 25
Gain on sale	$ 557	$ 0

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721525-107759

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123586238&loc=d3e38679-109324

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721523-107759

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 5B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32672-109319

+ Details

Divestitures (CenterPoint Energy and CERC) - Divestitures Narrative (Details) mi in Thousands, $ in Millions		3 Months Ended
	Apr. 29, 2021 USD ($) mi	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Discontinued Operation, Additional Disclosures [Abstract]
Proceeds from divestitures		$ 2,060	$ 0
Miles of pipeline \| mi	17
Gain on sale		557	$ 0
Transition services agreement charges		9
Transition services agreement, accounts receivable		7
Arkansas and Oklahoma Natural Gas Businesses \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Discontinued Operation, Additional Disclosures [Abstract]
Proceeds from divestitures	$ 2,150
Recovery of costs	$ 425
Gain on sale		557
Transaction costs		$ 59

Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2022

Regulatory Assets and Liabilities, Other Disclosures [Abstract]

Allowed Equity Return Not Recognized

The recoverable allowed equity return not yet recognized by the Registrants is as follows:


	March 31, 2022						December 31, 2021
	CenterPoint Energy (1)		Houston Electric (2)		CERC (3)		CenterPoint Energy (1)		Houston Electric (2)		CERC (3)
	(in millions)
Allowed equity return not recognized	$	195	$	95	$	16	$	199	$	100	$	16

(1)In addition to the amounts described in (2) and (3) below, represents CenterPoint Energy’s allowed equity return on post in-service carrying cost generally associated with investments in Indiana.

(2)Represents Houston Electric’s allowed equity return on its true-up balance of stranded costs, other changes and related interest resulting from the formerly integrated electric utilities prior to Texas deregulation to be recovered in rates through 2024 and certain storm restoration balances pending recovery in the next rate proceeding. The actual amounts recognized are adjusted at least annually to correct any over-collections or under-collections during the preceding 12 months.

(3)CERC’s allowed equity return on post in-service carrying cost associated with certain distribution facilities replacements expenditures in Texas.

Amount Allowed equity return recognized in period

The table below reflects the amount of allowed equity return recognized by each Registrant in its Condensed Statements of Consolidated Income:


	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Allowed equity return recognized	$	10	$	9	$	—	$	8	$	7	$	—

Short-term Borrowings and Long-term Debt - Schedule of Utilization of Credit Facilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term line of credit	$ 0	$ 0
Revolving Credit Facility \| VUHI
Debt Instrument [Line Items]
Long-term line of credit	0	0
Letter of Credit
Debt Instrument [Line Items]
Long-term line of credit	11	11
Letter of Credit \| VUHI
Debt Instrument [Line Items]
Long-term line of credit	0	0
Commercial Paper
Debt Instrument [Line Items]
Long-term line of credit	$ 708	$ 2,649
Weighted average interest rate of debt (as a percent)	0.54%	0.26%
Number of days until commercial paper maturity	60 days
Commercial Paper \| VUHI
Debt Instrument [Line Items]
Long-term line of credit	$ 260	$ 350
Weighted average interest rate of debt (as a percent)	0.58%	0.21%

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy) - Schedule of Reference Shares (Details)
$ in Millions

3 Months Ended

Apr. 08, 2022

Mar. 31, 2022

USD ($)

Dec. 31, 2021

Sep. 30, 1999

USD ($)

Debt and Equity Securities, FV-NI [Line Items]

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy)

(a) Equity Securities

CenterPoint Energy’s sales of equity securities during the three months ended March 31, 2022 are as follows:


Equity Security/Date Sold	Units Sold	Proceeds (1)
		(in millions)
Energy Transfer Common Units
February and March 2022	50,999,768	$	515
Energy Transfer Series G Preferred Units
March 2022	192,390	$	187

(1)Proceeds are net of transaction costs.

Gains and losses on equity securities, net of transaction costs, are recorded in Loss on Equity Securities in CenterPoint Energy’s Statements of Consolidated Income.


	Gains (Losses) on Equity Securities
	Three Months Ended March 31,
	2022		2021
	(in millions)
AT&T Common	$	(10)	$	15
Charter Common	(93)		(38)
Energy Transfer Common Units	95		—
Energy Transfer Series G Preferred Units	(9)		—

	$	(17)	$	(23)


	Shares Held		Carrying Value
	March 31, 2022	December 31, 2021	March 31, 2022		December 31, 2021
			(in millions)
AT&T Common	10,212,945	10,212,945	$	241	$	251
Charter Common	872,503	872,503	476		569
Energy Transfer Common Units	—	50,999,768	—		420
Energy Transfer Series G Preferred Units	—	192,390	—		196
Other			3		3
			$	720	$	1,439

(b) ZENS

CenterPoint Energy’s reference shares for each ZENS consisted of the following:


	March 31, 2022	December 31, 2021
	(in shares)
AT&T Common	0.7185	0.7185
Charter Common	0.061382	0.061382

Subordinated Debt ZENS

Debt and Equity Securities, FV-NI [Line Items]

Principal amount of ZENS issued or outstanding | $

$ 828

$ 1,000

Subordinated note cash exchangeable percentage of fair value (as a percent)

95.00%

Interest rate of debt (as a percent)

2.00%

Target annual yield on reference shares (as a percent)

2.309%

Contingent principal amount of ZENS | $

$ 33

Subsequent Event

Debt and Equity Securities, FV-NI [Line Items]

Shares received

0.241917

Stock representing share of new company (as a percent)

71.00%

AT&T Common | Subordinated Debt ZENS

Debt and Equity Securities, FV-NI [Line Items]

Number of shares referenced in exchangeable subordinated note

0.7185

AT&T Common | Subordinated Debt ZENS | Subsequent Event

Debt and Equity Securities, FV-NI [Line Items]

Number of shares referenced in exchangeable subordinated note

0.7185

Charter Common | Subordinated Debt ZENS

Debt and Equity Securities, FV-NI [Line Items]

Number of shares referenced in exchangeable subordinated note

0.061382

Charter Common | Subordinated Debt ZENS | Subsequent Event

Debt and Equity Securities, FV-NI [Line Items]

Number of shares referenced in exchangeable subordinated note

0.061382

WBD Common | Subordinated Debt ZENS | Subsequent Event

Debt and Equity Securities, FV-NI [Line Items]

Number of shares referenced in exchangeable subordinated note

0.173817

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 4	$ 8
Investment in equity securities	720	1,439
Accounts receivable, less allowance for credit losses	426	240
Accrued unbilled revenues, less allowance for credit losses	209	247
Natural gas and coal inventory	19	127
Materials and supplies	85	74
Non-trading derivative assets	33	9
Taxes receivable	29	28
Current assets held for sale	0	2,084
Regulatory assets	1,269	1,289
Prepaid expenses and other current assets	13	15
Total current assets	2,071	4,128
Property, Plant and Equipment:
Property, plant and equipment	8,140	7,878
Less: accumulated depreciation and amortization	2,143	2,115
Property, plant and equipment, net	5,997	5,763
Other Assets:
Goodwill	611	611
Regulatory assets	534	577
Non-trading derivative assets	6	5
Other non-current assets	30	31
Total other assets	1,175	1,219
Total Assets	9,243	11,110
Current Liabilities:
Short-term borrowings	0	7
Current portion of VIE Securitization Bonds long-term debt	182	220
Indexed debt, net	9	10
Current portion of other long-term debt	1,275	0
Indexed debt securities derivative	797	903
Accounts payable	293	365
Taxes accrued	82	90
Interest accrued	24	27
Dividends accrued	0	131
Customer deposits	63	63
Non-trading derivative liabilities	1	2
Current liabilities held for sale	0	562
Other current liabilities	105	113
Total current liabilities	1,989	1,507
Other Liabilities:
Deferred income taxes, net	879	680
Non-trading derivative liabilities	5	12
Benefit obligations	80	81
Regulatory liabilities	1,054	979
Other non-current liabilities	477	482
Total other liabilities	2,490	2,222
Long-term Debt:
VIE Securitization Bonds, net	317	317
Other long-term debt, net	5,444	4,658
Total long-term debt, net	1,905	4,380
Commitments and Contingencies (Note 13)
Temporary Equity (Note 18)	1	3
Shareholders’ Equity:
Preferred stock	790	790
Common stock	0	0
Additional paid-in capital	1,553	2,226
Retained earnings	1,296	765
Accumulated other comprehensive income	0	0
Total shareholders’ equity	2,859	3,001
Total Liabilities and Shareholders’ Equity	9,243	11,110
Variable Interest Entity, Primary Beneficiary
Current Assets:
Cash and cash equivalents	104	92
Accounts receivable, less allowance for credit losses	29	29
Prepaid expenses and other current assets	18	19
Other Assets:
Regulatory assets	$ 372	$ 420

Divestitures (CenterPoint Energy and CERC)

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Divestitures (CenterPoint Energy and CERC)

Divestiture of Arkansas and Oklahoma Natural Gas Businesses. On April 29, 2021, CenterPoint Energy, through its subsidiary CERC Corp., entered into an Asset Purchase Agreement to sell its Arkansas and Oklahoma Natural Gas businesses for $2.15 billion in cash, including recovery of approximately $425 million in natural gas costs, including storm-related incremental natural gas costs associated with the February 2021 Winter Storm Event, subject to certain adjustments set forth in the Asset Purchase Agreement. The assets include approximately 17,000 miles of main pipeline in Arkansas, Oklahoma and certain portions of Bowie County, Texas serving more than half a million customers. The transaction closed on January 10, 2022.

The sale was considered an asset sale for tax purposes, requiring net deferred tax liabilities to be excluded from held for sale balances. The deferred taxes associated with the businesses were recognized as a deferred income tax benefit by CenterPoint Energy and CERC upon closing of the sale in 2022.

Although the Arkansas and Oklahoma Natural Gas businesses met the held for sale criteria as of December 31, 2021, their disposals did not represent a strategic shift to CenterPoint Energy and CERC, as both retained significant operations in, and continued to invest in, their natural gas businesses. Therefore, the income and expenses associated with the disposed businesses were not reflected as discontinued operations on CenterPoint Energy’s and CERC’s Condensed Statements of Consolidated Income, as applicable. Since the depreciation on the Arkansas and Oklahoma Natural Gas assets continued to be reflected in revenues through customer rates until the closing of the transaction and will be reflected in the carryover basis of the rate-regulated assets, CenterPoint Energy and CERC continued to record depreciation on those assets through the closing of the

transaction. The Registrants record assets and liabilities held for sale at the lower of their carrying value or their estimated fair value less cost to sell.

CenterPoint Energy and CERC recognized gains of $303 million and $557 million, respectively, net of transaction costs of $59 million, in connection with the closing of the disposition of the Arkansas and Oklahoma Natural Gas businesses during the three months ended March 31, 2022. As of March 31, 2022, CenterPoint Energy and CERC had a receivable for working capital and other customary adjustments set forth in the Asset Purchase Agreement, and a gain or loss on sale in future periods may be incurred by CenterPoint Energy and CERC for differences between the estimated receivable as of March 31, 2022 and the actual amount of the payment.

As a result of the sale of the Arkansas and Oklahoma Natural Gas businesses, there were no assets or liabilities classified as held for sale as of March 31, 2022. The assets and liabilities of the Arkansas and Oklahoma Natural Gas businesses classified as held for sale in CenterPoint Energy’s and CERC’s Condensed Consolidated Balance Sheets, as applicable, as of December 31, 2021 included the following:


	December 31, 2021
	CenterPoint Energy		CERC
	(in millions)
Receivables, net	$	46	$	46
Accrued unbilled revenues	48		48
Natural gas inventory	46		46
Materials and supplies	9		9
Property, plant and equipment, net	1,314		1,314
Goodwill (1)	398		144
Regulatory assets	471		471
Other	6		6
Total current assets held for sale	$	2,338	$	2,084

Short term borrowings (2)	$	36	$	36
Accounts payable	40		40
Taxes accrued	7		7

Customer deposits	12		12
Regulatory liabilities	365		365
Other	102		102
Total current liabilities held for sale	$	562	$	562

(1)See Note 9 for further information about the allocation of goodwill to the disposed businesses.

(2)Represents third-party AMAs associated with utility distribution service in Arkansas and Oklahoma. These transactions are accounted for as an inventory financing. For further information, see Note 11.

The pre-tax income for the Arkansas and Oklahoma Natural Gas businesses, excluding interest and corporate allocations, included in CenterPoint Energy’s and CERC’s Condensed Statements of Consolidated Income is as follows:


	Three Months Ended March 31,
	2022 (1)		2021
	(in millions)
Income from Continuing Operations Before Income Taxes	$	9	$	52

(1)Reflects January 1, 2022 to January 9, 2022 results only due to of the sale of the Arkansas and Oklahoma Natural Gas businesses.

Effective on the date of the closing of the disposition of the Arkansas and Oklahoma Natural Gas businesses, a subsidiary of CenterPoint Energy, Inc. entered into the Transition Services Agreement, whereby that subsidiary agreed to provide certain transition services such as accounting, customer operations, procurement, and technology functions for a term of up to twelve months. Subject to the conditions in the Transition Services Agreement, Southern Col Midco may terminate these support services with 60 days prior written notice.

CenterPoint Energy’s charges to Southern Col Midco for reimbursement of transition services were $9 million during the three months ended March 31, 2022. Actual transitional services costs incurred are recorded net of amounts charged to Southern Col Midco. CenterPoint Energy had accounts receivable from Southern Col Midco of $7 million as of March 31, 2022 for transition services.

Discontinued Operations (CenterPoint Energy)

Enable Merger. On December 2, 2021, Enable, completed the previously announced Enable Merger pursuant to the Enable Merger Agreement entered into on February 16, 2021. At the closing of the Enable Merger on December 2, 2021, Energy Transfer acquired 100% of Enable’s outstanding common and preferred units, resulting in the exchange of Enable Common Units owned by CenterPoint Energy for Energy Transfer Common Units and the exchange of Enable Series A Preferred Units owned by CenterPoint Energy for Energy Transfer Series G Preferred Units.

During the three months ended March 31, 2022, CenterPoint Energy sold all of its remaining Energy Transfer Common Units and Energy Transfer Series G Preferred Units. See Note 10 for further information regarding Energy Transfer equity securities.

Additionally, CenterPoint Energy’s disposal of its interests in Enable represented a strategic shift that will have a major effect on CenterPoint Energy’s operations or financial results, and as such, its equity investment in Enable was classified and presented as held for sale. The equity in earnings of unconsolidated affiliates, net of tax, associated with CenterPoint Energy’s equity investment in Enable was reflected as discontinued operations on CenterPoint Energy’s Condensed Statements of Consolidated Income for the three months ended March 31, 2021.

A summary of discontinued operations presented in CenterPoint Energy’s Condensed Statements of Consolidated Income is as follows:


	Three Months Ended March 31, 2021
	Equity Method Investment in Enable
	(in millions)
Equity in earnings of unconsolidated affiliate, net	$	108
Income from discontinued operations before income taxes	108
Income tax expense	25
Net income from discontinued operations	$	83

CenterPoint Energy has elected not to separately disclose discontinued operations on its respective Condensed Statements of Consolidated Cash Flows. The following table summarizes CenterPoint Energy’s cash flows from discontinued operations and certain supplemental cash flow disclosures, as applicable:


	Three Months Ended March 31, 2021
	CenterPoint Energy
	Equity Method Investment in Enable
	(in millions)
Equity in earnings of unconsolidated affiliate - operating	$	(108)
Distributions from unconsolidated affiliate - operating	39

Distributions Received from Enable (CenterPoint Energy):


	Three Months Ended March 31,
	2021
		Per Unit		Cash Distribution
		(in millions, except per unit amounts)
Enable Common Units		$	0.16525	$	39
Enable Series A Preferred Units		0.62500		9
Total CenterPoint Energy				$	48

Transactions with Enable (CenterPoint Energy and CERC):


	Three Months Ended March 31, 2021
	(in millions)
Natural gas expenses, includes transportation and storage costs	$	32

Summarized Financial Information for Enable (CenterPoint Energy)

As a result of the closing of the Enable Merger in 2021, there were no assets classified as held for sale as of December 31, 2021. Summarized consolidated balance sheet information for Enable on the closing of the Enable Merger is as follows:


	December 2,
	2021
	(in millions)
Current assets	$	594
Non-current assets	11,227
Current liabilities	1,254
Non-current liabilities	3,281
Non-controlling interest	26
Preferred equity	362
Accumulated other comprehensive loss	(1)
Enable partners’ equity	6,899

Reconciliation of Investment in Enable:
CenterPoint Energy’s ownership interest in Enable partners’ equity	$	3,701
CenterPoint Energy’s basis difference	(2,732)

CenterPoint Energy’s equity method investment in Enable	$	969

Summarized unaudited consolidated income information for Enable is as follows:


	Three Months Ended March 31, 2021
		(in millions)
Operating revenues		$	970
Cost of sales, excluding depreciation and amortization		519
Depreciation and amortization		106

Operating income		206
Net income attributable to Enable Common Units		155


Reconciliation of Equity in Earnings, net:
CenterPoint Energy’s interest		$	83
Basis difference amortization (1)		25


CenterPoint Energy’s equity in earnings, net (2)		$	108

(1)Equity in earnings of unconsolidated affiliate includes CenterPoint Energy’s share of Enable earnings adjusted for the amortization of the basis difference of CenterPoint Energy’s investment in Enable and its underlying equity in net assets of Enable. The basis difference was being amortized through the year 2048 and ceased upon closing of the Enable Merger.

(2)Reported as discontinued operations on CenterPoint Energy’s Condensed Statements of Consolidated Income.

Employee Benefit Plans

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

The Registrants’ net periodic cost, before considering amounts subject to overhead allocations for capital expenditure projects or for amounts subject to deferral for regulatory purposes, includes the following components relating to pension and postretirement benefits:

Pension Benefits (CenterPoint Energy)


	Three Months Ended March 31,
		2022		2021
		(in millions)
Service cost (1)		$	8	$	10
Interest cost (2)		15		15
Expected return on plan assets (2)		(25)		(26)

Amortization of net loss (2)		7		9


Net periodic cost		$	5	$	8

(1)Amounts presented in the table above are included in Operation and maintenance expense in CenterPoint Energy’s Condensed Statements of Consolidated Income, net of amounts capitalized and regulatory deferrals.

(2)Amounts presented in the table above are included in Other income, net in CenterPoint Energy’s Condensed Statements of Consolidated Income, net of regulatory deferrals.

Postretirement Benefits

















	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Service cost (1)	$	1	$	—	$	—	$	1	$	—	$	—
Interest cost (2)	2		1		1		2		1		1
Expected return on plan assets (2)	(1)		(1)		—		(1)		(1)		—
Amortization of prior service cost (credit) (2)	(1)		(1)		—		(1)		(1)		—
Amortization of net loss (2)	(1)		(1)		—		—		—		—




Net periodic cost (benefit)	$	—	$	(2)	$	1	$	1	$	(1)	$	1

(1)Amounts presented in the tables above are included in Operation and maintenance expense in each of the Registrants’ respective Condensed Statements of Consolidated Income, net of amounts capitalized and regulatory deferrals.

(2)Amounts presented in the tables above are included in Other income (expense), net in each of the Registrants’ respective Condensed Statements of Consolidated Income, net of regulatory deferrals.

The table below reflects the expected contributions to be made to the pension and postretirement benefit plans during 2022:


	CenterPoint Energy		Houston Electric		CERC
	(in millions)
Expected minimum contribution to pension plans during 2022	$	7	$	—	$	—
Expected contribution to postretirement benefit plans in 2022	8		1		3

The table below reflects the contributions made to the pension and postretirement benefit plans during 2022:


	Three Months Ended March 31, 2022
		CenterPoint Energy		Houston Electric		CERC
		(in millions)
Pension plans		$	2	$	—	$	—
Postretirement benefit plans		2		—		—

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 3
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (d)(iv)(03)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Balance Sheets - Houston Electric - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Current Assets:
Cash and cash equivalents	$ 4	$ 8
Accounts receivable, less allowance for credit losses	426	240
Accounts and notes receivable–affiliated companies	17	16
Accrued unbilled revenues, less allowance for credit losses	209	247
Materials and supplies	85	74
Prepaid expenses and other current assets	13	15
Total current assets	2,071	4,128
Property, Plant and Equipment:
Property, plant and equipment	8,140	7,878
Less: accumulated depreciation and amortization	2,143	2,115
Property, plant and equipment, net	5,997	5,763
Other Assets:
Regulatory assets	534	577
Other non-current assets	30	31
Total other assets	1,175	1,219
Total Assets	9,243	11,110
Current Liabilities:
Current portion of VIE Securitization Bonds long-term debt	182	220
Current portion of other long-term debt	1,275	0
Accounts payable	293	365
Accounts and notes payable–affiliated companies	147	56
Taxes accrued	82	90
Interest accrued	24	27
Other current liabilities	105	113
Total current liabilities	1,989	1,507
Other Liabilities:
Deferred income taxes, net	879	680
Benefit obligations	80	81
Regulatory liabilities	1,054	979
Other non-current liabilities	477	482
Total other liabilities	2,490	2,222
Long-term Debt:
VIE Securitization Bonds, net	317	317
Other long-term debt, net	5,444	4,658
Total long-term debt, net	1,905	4,380
Commitments and Contingencies (Note 13)
Shareholders’ Equity:
Common stock	0	0
Additional paid-in capital	1,553	2,226
Retained earnings	1,296	765
Total shareholders’ equity	2,859	3,001	$ 2,718
Total Liabilities and Shareholders’ Equity	9,243	11,110
Variable Interest Entity, Primary Beneficiary
Current Assets:
Cash and cash equivalents	104	92
Accounts receivable, less allowance for credit losses	29	29
Prepaid expenses and other current assets	18	19
Other Assets:
Regulatory assets	$ 372	$ 420

New Accounting Pronouncements (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Standards Update and Change in Accounting Principle [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table provides an overview of certain recently adopted accounting pronouncements applicable to all the Registrants.

Recently Adopted Accounting Standards

ASU Number and Name

Description

Date of Adoption

Financial Statement Impact
upon Adoption

ASU 2021-10: Government Assistance (Topic 832)

Disclosures by Business Entities about Government

Assistance

This standard requires additional disclosure requirements when a business receives government assistance and uses a grant or contribution accounting model by analogy to other accounting guidance such as the grant model under International Accounting Standards (IAS) 20 Accounting for Government Grants and Disclosures of Government Assistance and GAAP ASC 958-605 Not for Profit.

Transition method: Prospective or retrospective

January 1, 2022

Adoption of this standard may result in additional disclosures related to the recovery of Texas natural gas costs associated with the February 2021 Winter Storm Event through the state securitization, which is expected to be accounted for as a government grant by analogy to IAS 20. The adoption of this standard did not have a material impact on the Registrants’ financial position, results of operations or cash flows.

Condensed Statements of Consolidated Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Utility revenues	$ 1,376	$ 1,168
Non-utility revenues	9	9
Total	1,385	1,177
Expenses:
Utility natural gas, fuel and purchased power	857	623
Non-utility cost of revenues, including natural gas	1	2
Operation and maintenance	187	198
Depreciation and amortization	72	80
Taxes other than income taxes	56	56
Total	1,173	959
Operating Income	212	218
Other Income (Expense):
Loss on equity securities	(17)	(23)
Gain on indexed debt securities	106	26
Gain on sale	557	0
Interest expense and other finance charges	(21)	(24)
Interest expense on Securitization Bonds	(4)	(6)
Other income, net	0	(1)
Total	536	(25)
Income from Continuing Operations Before Income Taxes	748	193
Income tax expense	194	42
Income from Continuing Operations	531	280
Income from Discontinued Operations (net of tax expense of $—, $25, respectively)	0	83
Net Income	554	151
Income allocated to preferred shareholders	13	29
Income Available to Common Shareholders	$ 518	$ 334
Basic Earnings (Loss) Per Common Share [Abstract]
Basic earnings per common share - continuing operations (in dollars per share)	$ 0.82	$ 0.41
Basic earnings (loss) per common share - discontinued operations (in dollars per share)	0	0.15
Basic Earnings (Loss) Per Common Share (in dollars per share)	0.82	0.56
Diluted Earnings (Loss) Per Common Share [Abstract]
Diluted earnings per common share - continuing operations (in dollars per share)	0.82	0.43
Diluted earnings (loss) per common share - discontinued operations (in dollars per share)	0	0.13
Diluted Earnings (Loss) Per Common Share (in dollars per share)	$ 0.82	$ 0.56
Weighted Average Common Shares Outstanding, Basic	629,134	551,546
Weighted Average Common Shares Outstanding, Diluted	631,304	631,420

Short-term Borrowings and Long-term Debt - Schedule of Revolving Credit Facilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Debt Instrument [Line Items]
Size of credit facility	$ 4,000
Restoration costs	$ 100
Line of Credit
Debt Instrument [Line Items]
Percentage on limitation of debt to total capitalization under covenant (as a percent)	65.00%
Ratio of indebtedness to net capital (as a percent)	0.527
Consecutive period for system restoration costs to exceed $100 million (in months)	12 months
Line of Credit \| Maximum
Debt Instrument [Line Items]
Percentage on limitation of debt to total capitalization under covenant amended (in hundredths)	70.00%
Line of Credit \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.25%
Parent Company
Debt Instrument [Line Items]
Size of credit facility	$ 2,400
Parent Company \| Line of Credit
Debt Instrument [Line Items]
Percentage on limitation of debt to total capitalization under covenant (as a percent)	65.00%
Ratio of indebtedness to net capital (as a percent)	0.569
Parent Company \| Line of Credit \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.625%
VUHI
Debt Instrument [Line Items]
Size of credit facility	$ 400
Letters of credit swing line sublimit	$ 20
VUHI \| Line of Credit
Debt Instrument [Line Items]
Percentage on limitation of debt to total capitalization under covenant (as a percent)	65.00%
Ratio of indebtedness to net capital (as a percent)	0.470
VUHI \| Line of Credit \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.25%

Background and Basis of Presentation (Details)	Mar. 31, 2022 registrant state publicUtilityCompany
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of registrants \| registrant	3
Number of owned and operated utility companies \| publicUtilityCompany	3
Natural Gas
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of states in which entity operates \| state	4

Goodwill and Other Intangibles (CenterPoint Energy and CERC)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles (CenterPoint Energy and CERC)

Goodwill (CenterPoint Energy and CERC)

CenterPoint Energy’s goodwill by reportable segment is as follows:


	December 31, 2021		March 31, 2022
	(in millions)
Electric (1)	$	936	$	936
Natural Gas (2)	2,920		2,920
Corporate and Other	438		438

Total	$	4,294	$	4,294

CERC’s goodwill is as follows:


	December 31, 2021		March 31, 2022
	(in millions)
Goodwill (2)	$	611	$	611

(1)Amount presented is net of the accumulated goodwill impairment charge of $185 million recorded in 2020.

(2)Excludes $398 million and $144 million, respectively, of goodwill attributable to the Arkansas and Oklahoma Natural Gas businesses which was reflected on CenterPoint Energy’s and CERC’s respective Condensed Consolidated Balance Sheets in Current assets held for sale as of December 31, 2021 and disposed following the completion of the sale in January 2022. For further information, see Note 3.

When a disposal group reflects a component of a reporting unit and meets the definition of a business, the goodwill within that reporting unit is allocated to the disposal group based on the relative fair value of the components representing a business that will be retained and disposed. Goodwill attributable to the disposed Natural Gas businesses was classified as held for sale as of December 31, 2021 and excluded from the table above.

Other Intangibles (CenterPoint Energy)

The tables below present information on CenterPoint Energy’s intangible assets, excluding goodwill, recorded in Other non-current assets on CenterPoint Energy’s Condensed Consolidated Balance Sheets and the related amortization expense included in Depreciation and amortization on CenterPoint Energy’s Condensed Statements of Consolidated Income.


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
	(in millions)
Customer relationships	$	33	$	(13)	$	20	$	33	$	(12)	$	21

Trade names	16		(5)		11		16		(5)		11

Operation and maintenance agreements (1)	12		(1)		11		12		(1)		11
Other	2		(1)		1		2		(1)		1
Total	$	63	$	(20)	$	43	$	63	$	(19)	$	44

(1)Amortization expense related to the operation and maintenance agreements and construction backlog is included in Non-utility cost of revenues, including natural gas on CenterPoint Energy’s Condensed Statements of Consolidated Income.


	Three Months Ended March 31,
			2022		2021
		(in millions)
Amortization expense of intangible assets recorded in Depreciation and amortization			$	1	$	1

CenterPoint Energy estimates that amortization expense of intangible assets with finite lives for the next five years will be as follows:


	Amortization Expense

	(in millions)
Remaining nine months of 2022	$	5
2023	6
2024	5
2025	5
2026	5
2027	4

Equity (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 28, 2022	Jul. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Jul. 20, 2021
Class of Stock [Line Items]
Preferred stock, outstanding (in shares)			800,000		800,000
Preferred stock			$ 790		$ 790
Preferred Stock Dividends and Other Adjustments [Abstract]
Preferred stock dividend requirement			13	$ 29
Total income allocated to preferred shareholders			13	29
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			0	10
Other comprehensive income (loss) from unconsolidated affiliates			0	0
Actuarial losses			0	0
Reclassification of deferred loss from cash flow hedges realized in net income			0	0
Net current period other comprehensive income			0	0
Ending Balance			$ 0	$ 10
Chief Executive Officer
Preferred Stock Dividends and Other Adjustments [Abstract]
Retention incentive agreement, shares issued						1,000,000
Chief Executive Officer \| Restricted Stock Units (RSUs)
Preferred Stock Dividends and Other Adjustments [Abstract]
Restricted stock units granted (in shares)	400,000	400,000
Remaining shares available to be awarded (in shares)		200,000
Common Stock
Class of Stock [Line Items]
Common Stock dividends paid per share (in dollars per share)			$ 0.170	$ 0.160
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends paid per share (in dollars per share)			30.625	$ 30.625
Preferred stock, liquidation preference (per share)			$ 1,000
Preferred stock, outstanding (in shares)			800,000		800,000
Preferred stock			$ 790		$ 790
Preferred Stock Dividends and Other Adjustments [Abstract]
Preferred stock dividend requirement			$ 13	$ 12
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends paid per share (in dollars per share)			$ 0	$ 17.500
Preferred Stock Dividends and Other Adjustments [Abstract]
Preferred stock dividend requirement			$ 0	$ 17
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends paid per share (in dollars per share)			$ 0	$ 0.160
Preferred Stock
Class of Stock [Line Items]
Preferred stock, outstanding (in shares)			800,000		800,000
Preferred stock			$ 790		$ 790

Leases (Details) $ in Millions	3 Months Ended
Leases (Details) $ in Millions	Mar. 31, 2022 USD ($) MW	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) MW
Lease Disclosure [Line Items]
Expenses associated with short-term lease	$ 51		$ 20
Additional MW of mobile generation \| MW	128
Cash payment	$ 171
Number of megawatts of mobile generation \| MW	505
Number of megawatts of mobile generation, amount delivered \| MW	253		125
Lease, Cost [Abstract]
Operating lease cost	$ 1	$ 1
Short-term lease cost	0	0
Variable lease cost	0	0
Total lease cost	1	1
Operating Leases, Lease Income [Abstract]
Operating lease income	1	1
Variable lease income	0	0
Total lease income	1	1
Assets and Liabilities, Lessee [Abstract]
Operating ROU assets	7		$ 12
Finance ROU assets	0		0
Total leased assets	7		12
Current operating lease liability	2		2
Non-current operating lease liability	5		11
Total leased liabilities	$ 7		$ 13
Weighted-average remaining lease term (in years) - operating leases	4 years 6 months		6 years 6 months
Weighted-average discount rate - operating leases (as a percent)	3.52%		3.20%
Weighted-average remaining lease term (in years) - finance leases	7 years 3 months 18 days		7 years 6 months
Weighted-average discount rate - finance leases (as a percent)	2.21%		2.21%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other non-current assets		Other non-current assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net		Property, Plant and Equipment, Net
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities		Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other non-current liabilities		Other non-current liabilities
Operating Lease Liabilities, Payments Due [Abstract]
Remainder of 2022	$ 1
2023	2
2024	2
2025	1
2026	1
2027 and beyond	1
Total lease payments	8
Less: Interest	1
Present value of lease liabilities	7		$ 13
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Finance lease, not yet commenced, amount	$ 347
Lease not yet commenced, amount of megawatts \| MW	252
Remainder of 2022	$ 3
2023	3
2024	3
2025	3
2026	4
2027	4
2028 and beyond	132
Total lease payments to be received	152
Other Information Related to Leases [Abstract]
Operating cash flows from operating leases included in the measurement of lease liabilities	1	1
Financing cash flows from finance leases included in the measurement of lease liabilities	$ 0	$ 0

Short-term Borrowings and Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities

Debt Transactions. During the three months ended March 31, 2022, the following debt instruments were issued or incurred:


Registrant	Issuance Date	Debt Instrument	Aggregate Principal Amount		Interest Rate	Maturity Date
	(in millions)



Houston Electric	February 2022	General Mortgage Bonds	$	300	3.00%	2032
Houston Electric	February 2022	General Mortgage Bonds	500		3.60%	2052
		Total Houston Electric (1)	800


		Total CenterPoint Energy	$	800

(1)Total proceeds, net of discounts and issuance expenses and fees, of approximately $784 million were used for general limited liability company purposes, including capital expenditures and the repayment of all or a portion of Houston Electric’s borrowings under the CenterPoint Energy money pool.

During the three months ended March 31, 2022, the following debt instruments were repaid at maturity or redeemed prior to maturity with proceeds received from the sale of Energy Transfer units discussed further in Note 10:


Registrant	Repayment/Redemption Date	Debt Instrument	Aggregate Principal		Interest Rate	Maturity Date
			(in millions)
CERC (1)	January 2022	Floating Rate Senior Notes	$	425	Three-month LIBOR plus 0.5%	2023
		Total CERC	425


CenterPoint Energy (2)	January 2022	First Mortgage Bonds	5		0.82%	2022
CenterPoint Energy (3)	March 2022	Senior Notes	250		3.85%	2024
CenterPoint Energy (4)	March 2022	Senior Notes	350		4.25%	2028
		Total CenterPoint Energy	$	1,030

(1)In January 2022, CERC provided notice of partial redemption, and on January 31, 2022, CERC redeemed a portion of the outstanding $1 billion aggregate principal amount of the series at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest on the principal amount being redeemed.

(2)First Mortgage Bonds issued by SIGECO.

(3)In March 2022, CenterPoint Energy provided notice of redemption, and on March 31, 2022, CenterPoint Energy redeemed all of the remaining outstanding senior notes of the series at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest of approximately $2 million, the write off of issuance costs of $1 million and an applicable make-whole premium of approximately $7 million for a total redemption price of $260 million.

(4)In March 2022, CenterPoint Energy provided notice of partial redemption, and on March 31, 2022, CenterPoint Energy redeemed a portion ($350 million) of the outstanding $500 million aggregate principal amount of the series at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest of approximately $6 million, the write off of issuance costs of $3 million and an applicable make-whole premium of approximately $34 million for a total redemption price of $393 million.

The Registrants had the following revolving credit facilities as of March 31, 2022:


Execution Date	Registrant	Size of Facility		Draw Rate of LIBOR plus (1)	Financial Covenant Limit on Debt for Borrowed Money to Capital Ratio		Debt for Borrowed Money to Capital Ratio as of March 31, 2022 (2)	Termination Date
		(in millions)
February 4, 2021	CenterPoint Energy	$	2,400	1.625%	65.0%	(3)	56.9%	February 4, 2024
February 4, 2021	CenterPoint Energy (4)	400		1.250%	65.0%		47.0%	February 4, 2024

February 4, 2021	Houston Electric	300		1.375%	67.5%	(3)	53.7%	February 4, 2024
February 4, 2021	CERC	900		1.250%	65.0%		52.7%	February 4, 2024
	Total	$	4,000

(1)Based on current credit ratings.

(2)As defined in the revolving credit facility agreements, excluding Securitization Bonds.

(3)For CenterPoint Energy and Houston Electric, the financial covenant limit will temporarily increase to 70% if Houston Electric experiences damage from a natural disaster in its service territory and CenterPoint Energy certifies to the administrative agent that Houston Electric has incurred system restoration costs reasonably likely to exceed $100 million in a consecutive 12-month period, all or part of which Houston Electric intends to seek to recover through securitization financing. Such temporary increase in the financial covenant would be in effect from the date CenterPoint Energy delivers its certification until the earliest to occur of (i) the completion of the securitization financing, (ii) the first anniversary of CenterPoint Energy’s certification or (iii) the revocation of such certification.

(4)This credit facility was issued by VUHI, is guaranteed by SIGECO, Indiana Gas and VEDO and includes a $20 million letter of credit sublimit. This credit facility backstops VUHI’s commercial paper program.

The table below reflects the utilization of the Registrants’ respective revolving credit facilities:


	March 31, 2022								December 31, 2021
Registrant	Loans		Letters of Credit		Commercial Paper (1)		Weighted Average Interest Rate		Loans		Letters of Credit		Commercial Paper (1)		Weighted Average Interest Rate
	(in millions, except weighted average interest rate)
CenterPoint Energy	$	—	$	11	$	325	0.54	%	$	—	$	11	$	1,400	0.34	%
CenterPoint Energy (2)	—		—		260		0.58	%	—		—		350		0.21	%

Houston Electric	—		—		—		—	%	—		—		—		—	%
CERC	—		—		123		0.54	%	—		—		899		0.26	%
Total	$	—	$	11	$	708			$	—	$	11	$	2,649

(1)Outstanding commercial paper generally has maturities of 60 days or less and each Registrants’ commercial paper program is backstopped by such Registrants’ long-term credit facilities. Houston Electric does not have a commercial paper program.

(2)This credit facility was issued by VUHI and is guaranteed by SIGECO, Indiana Gas and VEDO.

Regulatory Matters (Details) - USD ($) $ in Millions	3 Months Ended
Regulatory Matters (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 22, 2021
Regulatory Assets [Line Items]
Amount of allowed equity return not recognized in the period	$ 16		$ 16
Allowed equity return recognized	0	$ 0
Regulatory assets	1,269		1,289
Non-current regulatory asset	534		577
February 2021 Winter Storm Event
Regulatory Assets [Line Items]
Regulatory liabilities	398
Regulatory assets			1,336
Non-current regulatory asset			583
February 2021 Winter Storm Event \| Arkansas and Oklahoma Natural Gas Businesses
Regulatory Assets [Line Items]
Regulatory assets			154
Non-current regulatory asset			244
February 2021 Winter Storm
Regulatory Assets [Line Items]
Regulatory assets	1,176
Non-current regulatory asset	297
February 2021 Winter Storm \| REP Bad Debt Expense
Regulatory Assets [Line Items]
Regulatory assets	8		8
February 2021 Winter Storm \| Operation and maintenance expense
Regulatory Assets [Line Items]
Regulatory assets	$ 15		$ 15
Department Of Commerce
Regulatory Assets [Line Items]
Regulatory liabilities				$ 45
Citizens Utility Board
Regulatory Assets [Line Items]
Regulatory liabilities				82
Attorney General's Office
Regulatory Assets [Line Items]
Regulatory liabilities				409
Attorney General's Office Alternative
Regulatory Assets [Line Items]
Regulatory liabilities				$ 57

Earnings Per Share (CenterPoint Energy) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Income from continuing operations	$ 531	$ 280
Less: Preferred stock dividend requirement (Note 18)	13	29
Undistributed earnings allocated to preferred shareholders	0	23
Income available to common shareholders from continuing operations - basic	518	228
Add back: Undistributed earnings allocated to preferred shareholders	0	23
Income available to common shareholders from continuing operations - diluted	518	268
Income available to common shareholders from discontinued operations - basic and diluted	0	83
Income available to common shareholders - basic and diluted	518	351
Income available to common shareholders - basic and diluted	$ 518	$ 351
Denominator:
Weighted average common shares outstanding - basic	629,134	551,546
Plus: Incremental shares from assumed conversions:
Weighted average common shares outstanding - diluted	631,304	631,420
Earnings Per Common Share:
Basic earnings per common share - continuing operations (in dollars per share)	$ 0.82	$ 0.41
Basic earnings (loss) per common share - discontinued operations (in dollars per share)	0	0.15
Basic Earnings (Loss) Per Common Share (in dollars per share)	0.82	0.56
Diluted Earnings (Loss) Per Common Share
Diluted earnings per common share - continuing operations (in dollars per share)	0.82	0.43
Diluted earnings (loss) per common share - discontinued operations (in dollars per share)	0	0.13
Diluted Earnings (Loss) Per Common Share (in dollars per share)	$ 0.82	$ 0.56
Restricted Stock
Plus: Incremental shares from assumed conversions:
Restricted stock	2,170	3,114
Series B Preferred Stock
Numerator:
Less: Preferred stock dividend requirement (Note 18)	$ 0	$ 17
Add back: Series B Preferred Stock dividend	$ 0	$ 17
Plus: Incremental shares from assumed conversions:
Preferred Stock	0	35,937
Series C Preferred Stock
Plus: Incremental shares from assumed conversions:
Preferred Stock	0	40,823

Condensed Consolidated Balance Sheets - CERC (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Cash and cash equivalents	$ 4,000,000	$ 8,000,000
Accounts receivable, less allowance for credit losses	426,000,000	240,000,000
Allowance for credit losses	33,000,000	39,000,000
Accrued unbilled revenues, allowance for credit losses	2,000,000	5,000,000
Prepaid expenses and other current assets	13,000,000	15,000,000
Regulatory assets	$ 534,000,000	$ 577,000,000
Preferred Stock [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	20,000,000	20,000,000	20,000,000
Preferred stock, outstanding (in shares)	800,000	800,000
Preferred stock aggregate liquidation preference	$ 800	$ 800
Common Stock [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, outstanding (in shares)	629,432,406	628,923,534
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 104,000,000	$ 92,000,000
Accounts receivable, less allowance for credit losses	29,000,000	29,000,000
Prepaid expenses and other current assets	18,000,000	19,000,000
Regulatory assets	$ 372,000,000	$ 420,000,000

Condensed Statements of Consolidated Changes in Equity (Parenthetical) - $ / shares	Mar. 31, 2022	Mar. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.01
Preferred stock, authorized (in shares)	20,000,000	20,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Series A Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01

Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Equity

Dividends Declared and Paid (CenterPoint Energy)

CenterPoint Energy did not declare dividends on its Common Stock or Series A Preferred Stock during either of the three months ended March 31, 2022 or 2021. The table below provides information about dividends paid during each of these periods:


	Dividends Paid Per Share
		Three Months Ended March 31,
			2022		2021
Common Stock			$	0.170	$	0.160
Series A Preferred Stock			30.625		30.625
Series B Preferred Stock			—		17.500
Series C Preferred Stock (1)			—		0.160

(1)The Series C Preferred Stock was entitled to participate in any dividend or distribution (excluding those payable in Common Stock) with the Common Stock on a pari passu, pro rata, as-converted basis. The per share amount reflects the dividend per share of Common Stock as if the Series C Preferred Stock were converted into Common Stock. All of the outstanding Series C Preferred Stock was converted to Common Stock during April and May 2021.

Preferred Stock (CenterPoint Energy)


	Liquidation Preference Per Share		Shares Outstanding as of		Outstanding Value as of
			March 31, 2022	December 31, 2021	March 31, 2022		December 31, 2021
	(in millions, except shares and per share amounts)
Series A Preferred Stock	$	1,000	800,000	800,000	$	790	$	790


			800,000	800,000	$	790	$	790

Income Allocated to Preferred Shareholders (CenterPoint Energy)


	Three Months Ended March 31,
			2022		2021
		(in millions)
Series A Preferred Stock			$	13	$	12
Series B Preferred Stock			—		17



Total income allocated to preferred shareholders			$	13	$	29

Temporary Equity (CenterPoint Energy)

On the approval and recommendation of the Compensation Committee and approval of the Board (acting solely through its independent directors), CenterPoint Energy entered into a retention incentive agreement with David J. Lesar, President and Chief Executive Officer of CenterPoint Energy, dated July 20, 2021. Under the terms of the retention incentive agreement, Mr. Lesar will receive equity-based awards under CenterPoint Energy’s LTIP covering a total of 1 million shares of Common Stock (Total Stock Award) to be granted in multiple annual awards. Mr. Lesar received 400 thousand restricted stock units in July 2021 that will vest in December 2022 and 400 thousand restricted stock units in February 2022 that will vest in December 2023. In February 2023, restricted stock units covering the remaining 200 thousand shares, or such lesser number of restricted stock units as may be required pursuant to the annual individual award limitations under CenterPoint Energy’s LTIP, will be awarded to Mr. Lesar and will vest in December 2023. In the event any shares under the Total Stock Award remain unawarded, in February 2024, a fully vested stock bonus award of the remaining shares will be granted. For accounting purposes, the 1 million shares under the Total Stock Award, consisting of both the awarded and unawarded equity-based awards described above, were considered granted in July 2021. In the event of death, disability, termination without cause or resignation for good reason, as defined in the retention incentive agreement, that occurs prior to the full Total Stock Award being awarded, CenterPoint Energy will pay a lump sum cash payment equal to the value of the unawarded equity-based awards, based on the closing trading price

of Common Stock on the date of the event’s occurrence. Because the unawarded equity-based awards are redeemable for cash upon events that are not probable at the grant date, the equity associated with the unawarded equity-based awards will be classified as Temporary Equity on CenterPoint Energy’s Condensed Consolidated Balance Sheets.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated comprehensive income (loss) are as follows:




















	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Beginning Balance	$	(64)	$	—	$	10	$	(90)	$	—	$	10
Other comprehensive loss before reclassifications:


Other comprehensive income (loss) from unconsolidated affiliates	—		—		—		1		—		—
Amounts reclassified from accumulated other comprehensive income (loss):

Actuarial losses (1)	1		—		—		2		—		—

Reclassification of deferred loss from cash flow hedges realized in net income	1		—		—		—		—		—


Net current period other comprehensive income	2		—		—		3		—		—
Ending Balance	$	(62)	$	—	$	10	$	(87)	$	—	$	10

(1)Amounts are included in the computation of net periodic cost and are reflected in Other income, net in each of the Registrants’ respective Condensed Statements of Consolidated Income.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Condensed Statements of Consolidated Comprehensive Income - Houston Electric - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income	$ 554	$ 151
Comprehensive income	$ 554	$ 151

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Equity (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Dividends Declared

The table below provides information about dividends paid during each of these periods:


	Dividends Paid Per Share
		Three Months Ended March 31,
			2022		2021
Common Stock			$	0.170	$	0.160
Series A Preferred Stock			30.625		30.625
Series B Preferred Stock			—		17.500
Series C Preferred Stock (1)			—		0.160

Preferred Stock

Preferred Stock (CenterPoint Energy)


	Liquidation Preference Per Share		Shares Outstanding as of		Outstanding Value as of
			March 31, 2022	December 31, 2021	March 31, 2022		December 31, 2021
	(in millions, except shares and per share amounts)
Series A Preferred Stock	$	1,000	800,000	800,000	$	790	$	790


			800,000	800,000	$	790	$	790

Dividend Requirement on Preferred Stock

Income Allocated to Preferred Shareholders (CenterPoint Energy)


	Three Months Ended March 31,
			2022		2021
		(in millions)
Series A Preferred Stock			$	13	$	12
Series B Preferred Stock			—		17



Total income allocated to preferred shareholders			$	13	$	29

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in accumulated comprehensive income (loss) are as follows:




















	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Beginning Balance	$	(64)	$	—	$	10	$	(90)	$	—	$	10
Other comprehensive loss before reclassifications:


Other comprehensive income (loss) from unconsolidated affiliates	—		—		—		1		—		—
Amounts reclassified from accumulated other comprehensive income (loss):

Actuarial losses (1)	1		—		—		2		—		—

Reclassification of deferred loss from cash flow hedges realized in net income	1		—		—		—		—		—


Net current period other comprehensive income	2		—		—		3		—		—
Ending Balance	$	(62)	$	—	$	10	$	(87)	$	—	$	10

(1)Amounts are included in the computation of net periodic cost and are reflected in Other income, net in each of the Registrants’ respective Condensed Statements of Consolidated Income.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

Pension Benefits (CenterPoint Energy)


	Three Months Ended March 31,
		2022		2021
		(in millions)
Service cost (1)		$	8	$	10
Interest cost (2)		15		15
Expected return on plan assets (2)		(25)		(26)

Amortization of net loss (2)		7		9


Net periodic cost		$	5	$	8

(2)Amounts presented in the table above are included in Other income, net in CenterPoint Energy’s Condensed Statements of Consolidated Income, net of regulatory deferrals.

Postretirement Benefits

















	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Service cost (1)	$	1	$	—	$	—	$	1	$	—	$	—
Interest cost (2)	2		1		1		2		1		1
Expected return on plan assets (2)	(1)		(1)		—		(1)		(1)		—
Amortization of prior service cost (credit) (2)	(1)		(1)		—		(1)		(1)		—
Amortization of net loss (2)	(1)		(1)		—		—		—		—




Net periodic cost (benefit)	$	—	$	(2)	$	1	$	1	$	(1)	$	1

(2)Amounts presented in the tables above are included in Other income (expense), net in each of the Registrants’ respective Condensed Statements of Consolidated Income, net of regulatory deferrals.

Benefit Plan Contributions

The table below reflects the expected contributions to be made to the pension and postretirement benefit plans during 2022:


	CenterPoint Energy		Houston Electric		CERC
	(in millions)
Expected minimum contribution to pension plans during 2022	$	7	$	—	$	—
Expected contribution to postretirement benefit plans in 2022	8		1		3

The table below reflects the contributions made to the pension and postretirement benefit plans during 2022:


	Three Months Ended March 31, 2022
		CenterPoint Energy		Houston Electric		CERC
		(in millions)
Pension plans		$	2	$	—	$	—
Postretirement benefit plans		2		—		—

Background and Basis of Presentation	3 Months Ended
Background and Basis of Presentation	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation General. This combined Form 10-Q is filed separately by three registrants: CenterPoint Energy, Inc., CenterPoint Energy Houston Electric, LLC and CenterPoint Energy Resources Corp. Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf. Each registrant makes no representation as to information relating exclusively to the other Registrants or the subsidiaries of CenterPoint Energy other than itself or its subsidiaries. Except as discussed in the penultimate paragraph in Note 11 to the Registrants’ Interim Condensed Financial Statements, no registrant has an obligation in respect of any other Registrant’s debt securities, and holders of such debt securities should not consider the financial resources or results of operations of any Registrant other than the obligor in making a decision with respect to such securities. Included in this combined Form 10-Q are the Interim Condensed Financial Statements of CenterPoint Energy, Houston Electric and CERC, which are referred to collectively as the Registrants. The Interim Condensed Financial Statements are unaudited, omit certain financial statement disclosures and should be read with the Registrants’ financial statements included in the Registrants’ combined 2021 Form 10-K. The Combined Notes to Interim Condensed Financial Statements apply to all Registrants and specific references to Houston Electric and CERC herein also pertain to CenterPoint Energy, unless otherwise indicated. Background. CenterPoint Energy, Inc. is a public utility holding company. As of March 31, 2022, CenterPoint Energy’s operating subsidiaries were as follows: •Houston Electric owns and operates electric transmission and distribution facilities in the Texas gulf coast area that includes the city of Houston. •CERC Corp. (i) directly owns and operates natural gas distribution systems in four states and (ii) owns and operates permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies through CEIP. •Vectren holds three public utilities through its wholly-owned subsidiary, VUHI, a public utility holding company: •Indiana Gas provides energy delivery services to natural gas customers located in central and southern Indiana; •SIGECO provides energy delivery services to electric and natural gas customers located in and near Evansville in southwestern Indiana and owns and operates electric generation assets to serve its electric customers and optimizes those assets in the wholesale power market; and •VEDO provides energy delivery services to natural gas customers located in and near Dayton in west-central Ohio. •Vectren performs non-utility activities through Energy Systems Group, which provides energy performance contracting and sustainable infrastructure services, such as renewables, distributed generation and combined heat and power projects. On January 10, 2022, CERC Corp. completed the sale of its Arkansas and Oklahoma Natural Gas businesses. For additional information regarding discontinued operations and divestitures, see Note 3. As of March 31, 2022, CenterPoint Energy’s reportable segments were Electric and Natural Gas. Houston Electric and CERC each consist of a single reportable segment. For a description of CenterPoint Energy’s reportable segments, see Note 15. As of March 31, 2022, CenterPoint Energy and Houston Electric had VIEs consisting of the Bond Companies, which are consolidated. The consolidated VIEs are wholly-owned, bankruptcy-remote, special purpose entities that were formed solely for the purpose of securitizing transition and system restoration-related property. Creditors of CenterPoint Energy and Houston Electric have no recourse to any assets or revenues of the Bond Companies. The bonds issued by these VIEs are payable only from and secured by transition and system restoration property, and the bondholders have no recourse to the general credit of CenterPoint Energy or Houston Electric. Basis of Presentation. The preparation of the Registrants’ financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Interim Condensed Financial Statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the respective periods. Amounts reported in the Condensed Statements of Consolidated Income are not necessarily indicative of amounts expected for a full-year period due to the effects of, among other things, (a) seasonal fluctuations in demand for energy, (b) changes in energy commodity prices, (c) timing of maintenance and other expenditures and (d) acquisitions and dispositions of businesses, assets and other interests. Certain prior year amounts have been reclassified to conform to the current year reportable segment presentation described in Note 15 and to reflect the impacts of discontinued operations.

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Allowance for credit losses	$ 33,000,000	$ 39,000,000
Accrued unbilled revenues, allowance for credit losses	2,000,000	5,000,000
Prepaid expenses and other current assets	13,000,000	15,000,000
Regulatory assets	$ 534,000,000	$ 577,000,000
Preferred Stock [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	20,000,000	20,000,000	20,000,000
Preferred stock, outstanding (in shares)	800,000	800,000
Preferred stock aggregate liquidation preference	$ 800	$ 800
Common Stock [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, outstanding (in shares)	629,432,406	628,923,534
Preferred stock	$ 790,000,000	$ 790,000,000
Variable Interest Entity, Primary Beneficiary
Prepaid expenses and other current assets	18,000,000	19,000,000
Regulatory assets	$ 372,000,000	$ 420,000,000

Condensed Consolidated Balance Sheets - Houston Electric (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Cash and cash equivalents	$ 4,000,000	$ 8,000,000
Accounts receivable, less allowance for credit losses	426,000,000	240,000,000
Allowance for credit losses	33,000,000	39,000,000
Accrued unbilled revenues, allowance for credit losses	2,000,000	5,000,000
Prepaid expenses and other current assets	13,000,000	15,000,000
Regulatory assets	$ 534,000,000	$ 577,000,000
Preferred Stock [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	20,000,000	20,000,000	20,000,000
Preferred stock, outstanding (in shares)	800,000	800,000
Preferred stock aggregate liquidation preference	$ 800	$ 800
Common Stock [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, outstanding (in shares)	629,432,406	628,923,534
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 104,000,000	$ 92,000,000
Accounts receivable, less allowance for credit losses	29,000,000	29,000,000
Prepaid expenses and other current assets	18,000,000	19,000,000
Regulatory assets	$ 372,000,000	$ 420,000,000

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair value, assets and liabilities measured on a recurring basis

The following tables present information about the Registrants’ assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 and indicate the fair value hierarchy of the valuation techniques utilized by the Registrants to determine such fair value.

CenterPoint Energy


	March 31, 2022						December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Equity securities	$	720	$	—	$	—	$	720	$	1,439	$	—	$	—	$	1,439
Investments, including money market funds (1)	39		—		—		39		42		—		—		42

Natural gas derivatives	—		39		—		39		—		14		—		14



Total assets	$	759	$	39	$	—	$	798	$	1,481	$	14	$	—	$	1,495
Liabilities
Indexed debt securities derivative	$	—	$	797	$	—	$	797	$	—	$	903	$	—	$	903
Interest rate derivatives	—		6		—		6		—		14		—		14




Total liabilities	$	—	$	803	$	—	$	803	$	—	$	917	$	—	$	917

Houston Electric


	March 31, 2022						December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Investments, including money market funds (1)	$	24	$	—	$	—	$	24	$	27	$	—	$	—	$	27

Total assets	$	24	$	—	$	—	$	24	$	27	$	—	$	—	$	27

CERC


	March 31, 2022						December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)

Investments, including money market funds (1)	$	14	$	—	$	—	$	14	$	14	$	—	$	—	$	14
Total assets	$	14	$	—	$	—	$	14	$	14	$	—	$	—	$	14

(1)Amounts are included in Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets.

Estimated fair value of financial instruments, debt instruments

The fair values of cash and cash equivalents, investments in debt and equity securities measured at fair value and short-term borrowings are estimated to be approximately equivalent to carrying amounts and have been excluded from the table below. The carrying amounts of non-trading derivative assets and liabilities and CenterPoint Energy’s ZENS indexed debt securities derivative are stated at fair value and are excluded from the table below. The fair value of each debt instrument is determined by multiplying the principal amount of each debt instrument by a combination of historical trading prices and comparable issue data. These liabilities, which are not measured at fair value in the Registrants’ Condensed Consolidated Balance Sheets, but for which the fair value is disclosed, would be classified as Level 2 in the fair value hierarchy.


	March 31, 2022						December 31, 2021
	CenterPoint Energy (1)		Houston Electric (1)		CERC		CenterPoint Energy (1)		Houston Electric (1)		CERC
Long-term debt, including current maturities	(in millions)


Carrying amount	$	13,870	$	6,243	$	3,180	$	16,086	$	5,495	$	4,380
Fair value	14,056		6,378		3,277		17,385		6,230		4,682

(1)Includes Securitization Bond debt.

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The Registrants reported the following effective tax rates:


	Three Months Ended March 31,
		2022		2021
CenterPoint Energy - Continuing operations (1)		27	%	15	%
CenterPoint Energy - Discontinued operations		—	%	23	%
Houston Electric (2)		22	%	13	%
CERC (3)		26	%	22	%

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) a suretyBond warrantyObligation lawsuit gasManufacturingAndStorageSite ashPond	Jan. 31, 2022 MW	Dec. 31, 2021 USD ($)	Feb. 09, 2021 MW
Loss Contingencies [Line Items]
Number of surety bond obligations outstanding \| suretyBond	53
Performance guarantee obligations outstanding face amount	$ 527
Percentage of work yet to be completed on projects with open surety bonds	39.00%
Number of warranty obligations outstanding \| warrantyObligation	37
Warranty obligations outstanding face amount	$ 549
Energy savings commitments not guaranteed	1,200
Guarantor obligations, maximum exposure, undiscounted	$ 511
Pending lawsuits \| lawsuit	5
Number of owned coal ash ponds \| ashPond	3
Asset retirement obligation	$ 90
Loss from Catastrophes \| February 2021 Winter Storm Event
Loss Contingencies [Line Items]
Pending lawsuits \| lawsuit	100
Minimum
Loss Contingencies [Line Items]
Estimated capital expenditure to clean ash ponds	$ 60
Maximum
Loss Contingencies [Line Items]
Estimated capital expenditure to clean ash ponds	$ 80
F.B. Culley
Loss Contingencies [Line Items]
Number of owned coal ash ponds \| ashPond	2
A.B. Brown
Loss Contingencies [Line Items]
Number of owned coal ash ponds \| ashPond	1
F.B. Culley East
Loss Contingencies [Line Items]
Number of owned coal ash ponds \| ashPond	1
Number of acres \| a	10
Indiana Gas Service Territory
Loss Contingencies [Line Items]
Environmental remediation number of sites with potential remedial responsibility \| gasManufacturingAndStorageSite	26
SIGECO
Loss Contingencies [Line Items]
Environmental remediation number of sites with potential remedial responsibility \| gasManufacturingAndStorageSite	5
Energy Services Disposal Group
Loss Contingencies [Line Items]
Exposure period after closing	90 days
Annualized fee received for retained CES guarantee exposure	3.00%
Quarterly increase of fee received for retained CES guarantee exposure	1.00%
Exposure period until increased fee	3 months
Estimated remaining exposure	$ 6
Guarantor obligation, current carrying value	0		$ 0
ESG
Loss Contingencies [Line Items]
Fair value of guarantees	$ 0
Posey Solar
Loss Contingencies [Line Items]
Solar array generating capacity (in MW) \| MW		200		300

Revenue Recognition and Allowance for Credit Losses - Summary of Contract Assets and Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Accounts Receivable
Opening balance as of December 31, 2021	$ 223
Closing balance as of March 31, 2022	408
Increase (decrease) in accounts receivable	185
Other Accrued Unbilled Revenues
Opening balance as of December 31, 2021	247
Closing balance as of March 31, 2022	209
Increase (decrease) in other accrued unbilled revenues	(38)
Contract Assets
Opening balance as of December 31, 2021	15
Closing balance as of March 31, 2022	16
Increase (decrease) in contract assets	1
Contract Liabilities
Opening balance as of December 31, 2021	4
Closing balance as of March 31, 2022	8
Increase (decrease) in contract liabilities	4
Revenue recognized included in the opening contract liability for the period	$ 1

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Carrying Amount
Liabilities
Carrying amount or fair value	$ 3,180	$ 4,380
Fair Value
Liabilities
Carrying amount or fair value	3,277	4,682
Fair Value, Recurring
Assets
Equity securities	720	1,439
Investments, including money market funds (1)	14	14
Total assets	14	14
Liabilities
Total liabilities	803	917
Fair Value, Recurring \| Natural gas derivatives
Assets
Natural gas derivatives	39	14
Fair Value, Recurring \| Indexed debt securities derivative
Liabilities
Derivative liabilities	797	903
Fair Value, Recurring \| Interest rate derivatives
Liabilities
Derivative liabilities	6	14
Fair Value, Recurring \| Level 1
Assets
Equity securities	720	1,439
Investments, including money market funds (1)	14	14
Total assets	14	14
Liabilities
Total liabilities	0	0
Fair Value, Recurring \| Level 1 \| Natural gas derivatives
Assets
Natural gas derivatives	0	0
Fair Value, Recurring \| Level 1 \| Indexed debt securities derivative
Liabilities
Derivative liabilities	0	0
Fair Value, Recurring \| Level 1 \| Interest rate derivatives
Liabilities
Derivative liabilities	0	0
Fair Value, Recurring \| Level 2
Assets
Equity securities	0	0
Investments, including money market funds (1)	0	0
Total assets	0	0
Liabilities
Total liabilities	803	917
Fair Value, Recurring \| Level 2 \| Natural gas derivatives
Assets
Natural gas derivatives	39	14
Fair Value, Recurring \| Level 2 \| Indexed debt securities derivative
Liabilities
Derivative liabilities	797	903
Fair Value, Recurring \| Level 2 \| Interest rate derivatives
Liabilities
Derivative liabilities	6	14
Fair Value, Recurring \| Level 3
Assets
Equity securities	0	0
Investments, including money market funds (1)	0	0
Total assets	0	0
Liabilities
Total liabilities	0	0
Fair Value, Recurring \| Level 3 \| Natural gas derivatives
Assets
Natural gas derivatives	0	0
Fair Value, Recurring \| Level 3 \| Indexed debt securities derivative
Liabilities
Derivative liabilities	0	0
Fair Value, Recurring \| Level 3 \| Interest rate derivatives
Liabilities
Derivative liabilities	$ 0	$ 0

Related Party Transactions (Houston Electric and CERC) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Cash dividends paid to parent	$ 23	$ 0
Contribution to parent for sale of Arkansas and Oklahoma Natural Gas businesses	720	0
Contribution from parent	0	0
Non-cash capital contribution from parent in payment for property, plant and equipment below	46	0
Payable to parent for property, plant and equipment below	41	0
Property, plant and equipment from parent	87	0
Operation and maintenance expense
Related Party Transaction [Line Items]
Net affiliate service charges (billings)	6	1
CenterPoint Energy \| Operation and maintenance expense
Related Party Transaction [Line Items]
Corporate service charges	$ 45	$ 50
Investments
Related Party Transaction [Line Items]
Weighted average interest rate (as a percent)	0.55%		0.34%
Accounts and notes receivable (payable) - affiliate companies
Related Party Transaction [Line Items]
Money pool investments (borrowings)	$ 0		$ (224)

Condensed Statements of Consolidated Changes in Equity - Houston Electric - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI Attributable to Parent
Balance, beginning of period (in shares) at Dec. 31, 2020		1,000,000,000
Balance, beginning of period at Dec. 31, 2020		$ 0	$ 2,046	$ 511	$ 10
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent			0
Other			0
Net income	$ 151			151
Dividend to parent				0
Balance, end of period (in shares) at Mar. 31, 2021		1,000,000,000
Balance, end of period at Mar. 31, 2021	$ 2,718	$ 0	2,046	662	10
Balance, beginning of period (in shares) at Dec. 31, 2021	628,923,534	1,000
Balance, beginning of period at Dec. 31, 2021	$ 3,001	$ 0	2,226	765	10
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent			675
Other			1
Net income	$ 554			554
Dividend to parent				(23)
Balance, end of period (in shares) at Mar. 31, 2022	629,432,406	1,000
Balance, end of period at Mar. 31, 2022	$ 2,859	$ 0	$ 1,553	$ 1,296	$ 10

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Divestitures (CenterPoint Energy and CERC) - Discontinued Operations (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 02, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Common and preferred units acquired (as a percent)				100.00%
Equity in earnings (loss) of unconsolidated affiliates, net	$ 0	$ 108
Income tax expense (benefit) from discontinued operations	0	25
Income from Discontinued Operations (net of tax expense of $—, $25, respectively)	0	83
Distributions from unconsolidated affiliates	0	39
Current assets	0		$ 2,084
Current liabilities	0		$ 562
Operating revenues	1,385	1,177
Depreciation and amortization	72	80
Operating income	212	218
Income available to common shareholders - basic and diluted	$ 518	334
Discontinued Operations \| Enable Midstream Partners
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity in earnings (loss) of unconsolidated affiliates, net		108
Income from discontinued operations before income taxes		108
Income tax expense (benefit) from discontinued operations		25
Income from Discontinued Operations (net of tax expense of $—, $25, respectively)		83
Distributions from unconsolidated affiliates		39
Cash distribution received		48
Natural gas expense		32
Current assets				$ 594
Non-current assets				11,227
Current liabilities				1,254
Non-current liabilities				3,281
Non-controlling interest				26
Preferred equity				362
Accumulated other comprehensive loss				(1)
Enable partners’ equity				6,899
CenterPoint Energy’s ownership interest in Enable partners’ equity				3,701
CenterPoint Energy’s basis difference				(2,732)
CenterPoint Energy’s equity method investment in Enable				$ 969
Operating revenues		970
Cost of sales, excluding depreciation and amortization		519
Depreciation and amortization		106
Operating income		206
Income available to common shareholders - basic and diluted		155
CenterPoint Energy’s interest		83
Basis difference amortization		$ 25
Discontinued Operations \| Enable Midstream Partners \| Common Units
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Distribution received (in dollars per unit)		$ 0.16525
Cash distribution received		$ 39
Discontinued Operations \| Enable Midstream Partners \| Series A Preferred Units
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Distribution received (in dollars per unit)		$ 0.62500
Cash distribution received		$ 9

Condensed Statements of Consolidated Income - Houston Electric - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating revenues	$ 1,385	$ 1,177
Expenses:
Operation and maintenance	187	198
Depreciation and amortization	72	80
Taxes other than income taxes	56	56
Total	1,173	959
Operating Income	212	218
Other Income (Expense):
Interest expense and other finance charges	(21)	(24)
Interest expense on Securitization Bonds	(4)	(6)
Other income, net	0	(1)
Total	536	(25)
Income from Continuing Operations Before Income Taxes	748	193
Income tax expense	194	42
Net Income	$ 554	$ 151

Goodwill and Other Intangibles (CenterPoint Energy and CERC) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 611		$ 611
Finite-Live Intangible Assets [Abstract]
Gross Carrying Amount	63		63
Accumulated Amortization	(20)		(19)
Net Balance	43		44
Finite-Lived Intangible Assets Amortization Expense Maturity Schedule [Abstract]
Remaining nine months of 2022	5
2023	6
2024	5
2025	5
2026	5
2027	4
Electric
Goodwill [Line Items]
Goodwill	936		936
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated goodwill impairment charge				$ 185
Natural Gas
Goodwill [Line Items]
Goodwill	2,920		2,920
Held for sale	144
Corporate and Other
Goodwill [Line Items]
Goodwill	438		438
Customer Relationships
Finite-Live Intangible Assets [Abstract]
Gross Carrying Amount	33		33
Accumulated Amortization	(13)		(12)
Net Balance	20		21
Trade Names
Finite-Live Intangible Assets [Abstract]
Gross Carrying Amount	16		16
Accumulated Amortization	(5)		(5)
Net Balance	11		11
Operation and maintenance agreements
Finite-Live Intangible Assets [Abstract]
Gross Carrying Amount	12		12
Accumulated Amortization	(1)		(1)
Net Balance	11		11
Other
Finite-Live Intangible Assets [Abstract]
Gross Carrying Amount	2		2
Accumulated Amortization	(1)		(1)
Net Balance	1		$ 1
Depreciation and amortization expense
Finite-Live Intangible Assets [Abstract]
Amortization expense of intangible assets recorded in Depreciation and amortization	$ 1	$ 1

Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The table below summarizes the Registrants’ outstanding interest rate hedging activity:


	March 31, 2022		December 31, 2021
Hedging Classification	Notional Principal

	(in millions)
Economic hedge (1)	$	84	$	84

(1)Relates to interest rate derivative instruments at SIGECO.

Fair Value of Derivative Instruments

The following tables present information about derivative instruments and hedging activities. The first table provides a balance sheet overview of derivative assets and liabilities, while the last table provides a breakdown of the related income statement impacts.

Fair Value of Derivative Instruments and Hedged Items (CenterPoint Energy)


		March 31, 2022				December 31, 2021
	Balance Sheet Location	Derivative Assets Fair Value		Derivative Liabilities Fair Value		Derivative Assets Fair Value		Derivative Liabilities Fair Value




Derivatives not designated as hedging instruments:		(in millions)
Natural gas derivatives (1)	Current Assets: Non-trading derivative assets	$	33	$	—	$	9	$	—
Natural gas derivatives (1)	Other Assets: Non-trading derivative assets	6		—		5		—

Interest rate derivatives	Current Liabilities: Non-trading derivative liabilities	—		1		—		2

Interest rate derivatives	Other Liabilities: Non-trading derivative liabilities	—		5		—		12
Indexed debt securities derivative (2)	Current Liabilities	—		797		—		903

Total		$	39	$	803	$	14	$	917

(1)Natural gas contracts are subject to master netting arrangements. This netting applies to all undisputed amounts due or past due. However, the mark-to-market fair value of each natural gas contract is in an asset position with no offsetting amounts.

(2)Derivative component of the ZENS obligation that represents the ZENS holder’s option to receive the appreciated value of the reference shares at maturity. See Note 10 for further information.

Income Statement Impact of Derivative Activity

Income Statement Impact of Hedge Accounting Activity (CenterPoint Energy)


		Three Months Ended March 31,
	Income Statement Location	2022		2021
Derivatives not designated as hedging instruments:		(in millions)
Indexed debt securities derivative (1)	Gain on indexed debt securities	$	106	$	26

(1)The indexed debt securities derivative is recorded at fair value and changes in the fair value are recorded in CenterPoint Energy’s Statements of Consolidated Income.

Credit-risk-related contingent features


	March 31, 2022		December 31, 2021
	(in millions)
Aggregate fair value of derivatives with credit-risk-related contingent features in a liability position	$	6	$	14
Fair value of collateral already posted	7		7
Additional collateral required to be posted if credit risk contingent features triggered (1)	—		7

(1)The maximum collateral required if further escalating collateral is triggered would equal the net liability position.

Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Credit Risk Related Contingent Features [Abstract]
Aggregate fair value of derivatives with credit-risk-related contingent features in a liability position	$ 6		$ 14
Fair value of collateral already posted	7		7
Additional collateral required to be posted if credit risk contingent features triggered (1)	0		7
Gains (Losses) in Other Income (Expense) \| Indexed debt securities derivative
Derivatives, Fair Value [Line Items]
Gain (loss) on derivative instruments not designated as hedging instruments	106	$ 26
Economic hedge (1) \| Interest rate contract
Derivatives, Fair Value [Line Items]
Economic hedge	84		84
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	39		14
Derivative Liabilities Fair Value	803		917
Not Designated as Hedging Instrument \| Current Assets \| Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	33		9
Derivative Liabilities Fair Value	0		0
Not Designated as Hedging Instrument \| Other Current Assets \| Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	6		5
Derivative Liabilities Fair Value	0		0
Not Designated as Hedging Instrument \| Current Liabilities \| Interest rate contract
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	0		0
Derivative Liabilities Fair Value	1		2
Not Designated as Hedging Instrument \| Current Liabilities \| Indexed debt securities derivative
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	0		0
Derivative Liabilities Fair Value	797		903
Not Designated as Hedging Instrument \| Other Noncurrent Liabilities \| Interest rate contract
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	0		0
Derivative Liabilities Fair Value	$ 5		$ 12

Divestitures (CenterPoint Energy and CERC) (Tables)

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Disclosure of Long Lived Assets Held-for-sale

The assets and liabilities of the Arkansas and Oklahoma Natural Gas businesses classified as held for sale in CenterPoint Energy’s and CERC’s Condensed Consolidated Balance Sheets, as applicable, as of December 31, 2021 included the following:


	December 31, 2021
	CenterPoint Energy		CERC
	(in millions)
Receivables, net	$	46	$	46
Accrued unbilled revenues	48		48
Natural gas inventory	46		46
Materials and supplies	9		9
Property, plant and equipment, net	1,314		1,314
Goodwill (1)	398		144
Regulatory assets	471		471
Other	6		6
Total current assets held for sale	$	2,338	$	2,084

Short term borrowings (2)	$	36	$	36
Accounts payable	40		40
Taxes accrued	7		7

Customer deposits	12		12
Regulatory liabilities	365		365
Other	102		102
Total current liabilities held for sale	$	562	$	562

(1)See Note 9 for further information about the allocation of goodwill to the disposed businesses.


	Three Months Ended March 31,
	2022 (1)		2021
	(in millions)
Income from Continuing Operations Before Income Taxes	$	9	$	52

(1)Reflects January 1, 2022 to January 9, 2022 results only due to of the sale of the Arkansas and Oklahoma Natural Gas businesses.

Disposal Groups, Including Discontinued Operations

A summary of discontinued operations presented in CenterPoint Energy’s Condensed Statements of Consolidated Income is as follows:


	Three Months Ended March 31, 2021
	Equity Method Investment in Enable
	(in millions)
Equity in earnings of unconsolidated affiliate, net	$	108
Income from discontinued operations before income taxes	108
Income tax expense	25
Net income from discontinued operations	$	83

The following table summarizes CenterPoint Energy’s cash flows from discontinued operations and certain supplemental cash flow disclosures, as applicable:


	Three Months Ended March 31, 2021
	CenterPoint Energy
	Equity Method Investment in Enable
	(in millions)
Equity in earnings of unconsolidated affiliate - operating	$	(108)
Distributions from unconsolidated affiliate - operating	39

Distributions Received from Enable (CenterPoint Energy):


	Three Months Ended March 31,
	2021
		Per Unit		Cash Distribution
		(in millions, except per unit amounts)
Enable Common Units		$	0.16525	$	39
Enable Series A Preferred Units		0.62500		9
Total CenterPoint Energy				$	48

Transactions with Enable (CenterPoint Energy and CERC):


	Three Months Ended March 31, 2021
	(in millions)
Natural gas expenses, includes transportation and storage costs	$	32

Summarized Financial Information for Enable (CenterPoint Energy)


	December 2,
	2021
	(in millions)
Current assets	$	594
Non-current assets	11,227
Current liabilities	1,254
Non-current liabilities	3,281
Non-controlling interest	26
Preferred equity	362
Accumulated other comprehensive loss	(1)
Enable partners’ equity	6,899

Reconciliation of Investment in Enable:
CenterPoint Energy’s ownership interest in Enable partners’ equity	$	3,701
CenterPoint Energy’s basis difference	(2,732)

CenterPoint Energy’s equity method investment in Enable	$	969

Summarized unaudited consolidated income information for Enable is as follows:


	Three Months Ended March 31, 2021
		(in millions)
Operating revenues		$	970
Cost of sales, excluding depreciation and amortization		519
Depreciation and amortization		106

Operating income		206
Net income attributable to Enable Common Units		155


Reconciliation of Equity in Earnings, net:
CenterPoint Energy’s interest		$	83
Basis difference amortization (1)		25


CenterPoint Energy’s equity in earnings, net (2)		$	108

(2)Reported as discontinued operations on CenterPoint Energy’s Condensed Statements of Consolidated Income.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

New Accounting Pronouncements

3 Months Ended

Mar. 31, 2022

Accounting Standards Update and Change in Accounting Principle [Abstract]

New Accounting Pronouncements

The following table provides an overview of certain recently adopted accounting pronouncements applicable to all the Registrants.

Recently Adopted Accounting Standards

ASU Number and Name

Description

Date of Adoption

Financial Statement Impact
upon Adoption

ASU 2021-10: Government Assistance (Topic 832)

Disclosures by Business Entities about Government

Assistance

Transition method: Prospective or retrospective

January 1, 2022

Management believes that other recently adopted standards and recently issued standards that are not yet effective will not have a material impact on the Registrants’ financial position, results of operations or cash flows upon adoption.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Earnings Per Share (CenterPoint Energy) (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table reconciles numerators and denominators of CenterPoint Energy’s basic and diluted earnings per common share.


	Three Months Ended March 31,
	2022		2021
	(in millions, except per share and share amounts)
Numerator:
Income from continuing operations	$	531	$	280
Less: Preferred stock dividend requirement (Note 18)	13		29

Less: Undistributed earnings allocated to preferred shareholders (1)	—		23
Income available to common shareholders from continuing operations - basic	518		228
Add back: Series B Preferred Stock dividend	—		17
Add back: Undistributed earnings allocated to preferred shareholders (1)	—		23
Income available to common shareholders from continuing operations - diluted	518		268
Income available to common shareholders from discontinued operations - basic and diluted	—		83
Income available to common shareholders - basic and diluted	$	518	$	351
Denominator:
Weighted average common shares outstanding - basic	629,134,000		551,546,000
Plus: Incremental shares from assumed conversions:
Restricted stock	2,170,000		3,114,000
Series B Preferred Stock	—		35,937,000
Series C Preferred Stock	—		40,823,000
Weighted average common shares outstanding - diluted	631,304,000		631,420,000







Earnings Per Common Share:
Basic earnings per common share - continuing operations	$	0.82	$	0.41
Basic earnings per common share - discontinued operations	—		0.15
Basic Earnings Per Common Share	$	0.82	$	0.56
Diluted earnings per common share - continuing operations	$	0.82	$	0.43
Diluted earnings per common share - discontinued operations	—		0.13
Diluted Earnings Per Common Share	$	0.82	$	0.56

(1)There were no undistributed earnings to be allocated to participating securities for the three months ended March 31, 2022.

Revenue Recognition and Allowance for Credit Losses - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts	$ 1,409	$ 1,172
Other	(24)	5
Operating revenues	1,385	1,177
Lease income	1	2
Electric
Disaggregation of Revenue [Line Items]
Revenue from contracts	898	833
Other	(5)	(3)
Operating revenues	893	830
Natural Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts	1,845	1,655
Other	(21)	8
Operating revenues	1,824	1,663
Corporate and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts	45	53
Other	1	1
Operating revenues	$ 46	$ 54

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

Condensed Consolidated Balance Sheets - CERC - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 4	$ 8
Accounts receivable, less allowance for credit losses	426	240
Accrued unbilled revenues, less allowance for credit losses	209	247
Accounts and notes receivable–affiliated companies	17	16
Materials and supplies	85	74
Natural gas and coal inventory	19	127
Taxes receivable	29	28
Current assets held for sale	0	2,084
Regulatory assets	1,269	1,289
Prepaid expenses and other current assets	13	15
Total current assets	2,071	4,128
Property, Plant and Equipment:
Property, plant and equipment	8,140	7,878
Less: accumulated depreciation and amortization	2,143	2,115
Property, plant and equipment, net	5,997	5,763
Other Assets:
Goodwill	611	611
Regulatory assets	534	577
Other non-current assets	30	31
Total other assets	1,175	1,219
Total Assets	9,243	11,110
Current Liabilities:
Short-term borrowings	0	7
Current portion of other long-term debt	1,275	0
Accounts payable	293	365
Accounts and notes payable–affiliated companies	147	56
Notes payable–affiliated companies	0	224
Taxes accrued	82	90
Interest accrued	24	27
Customer deposits	63	63
Current liabilities held for sale	0	562
Other current liabilities	105	113
Total current liabilities	1,989	1,507
Other Liabilities:
Deferred income taxes, net	879	680
Benefit obligations	80	81
Regulatory liabilities	1,054	979
Other non-current liabilities	477	482
Total other liabilities	2,490	2,222
Total long-term debt, net	1,905	4,380
Commitments and Contingencies (Note 13)
Shareholders’ Equity:
Common stock	0	0
Additional paid-in capital	1,553	2,226
Retained earnings	1,296	765
Accumulated other comprehensive income	0	0
Total shareholders’ equity	2,859	3,001
Total Liabilities and Shareholders’ Equity	9,243	11,110
Variable Interest Entity, Primary Beneficiary
Current Assets:
Cash and cash equivalents	104	92
Accounts receivable, less allowance for credit losses	29	29
Prepaid expenses and other current assets	18	19
Other Assets:
Regulatory assets	$ 372	$ 420

Fair Value Measurements

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Assets and liabilities that are recorded at fair value in the Registrants’ Condensed Consolidated Balance Sheets are categorized based upon the level of judgment associated with the inputs used to measure their value. Hierarchical levels, as defined below and directly related to the amount of subjectivity associated with the inputs to fair valuations of these assets and liabilities, are as follows:

Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. The types of assets carried at Level 1 fair value generally are exchange-traded derivatives and equity securities.

Level 2: Inputs, other than quoted prices included in Level 1, are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar instruments in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Fair value assets and liabilities that are generally included in this category are derivatives with fair values based on inputs from actively quoted markets. A market approach is utilized to value the Registrants’ Level 2 natural gas derivative assets or liabilities. CenterPoint Energy’s Level 2 indexed debt securities derivative is valued using an option model and a discounted cash flow model, which uses projected dividends on the ZENS-Related Securities and a discount rate as observable inputs.

Level 3: Inputs are unobservable for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Unobservable inputs reflect the Registrants’ judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. The Registrants develop these inputs based on the best information available, including the Registrants’ own data.

The Registrants determine the appropriate level for each financial asset and liability on a quarterly basis.

CenterPoint Energy


	March 31, 2022						December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Equity securities	$	720	$	—	$	—	$	720	$	1,439	$	—	$	—	$	1,439
Investments, including money market funds (1)	39		—		—		39		42		—		—		42

Natural gas derivatives	—		39		—		39		—		14		—		14



Total assets	$	759	$	39	$	—	$	798	$	1,481	$	14	$	—	$	1,495
Liabilities
Indexed debt securities derivative	$	—	$	797	$	—	$	797	$	—	$	903	$	—	$	903
Interest rate derivatives	—		6		—		6		—		14		—		14




Total liabilities	$	—	$	803	$	—	$	803	$	—	$	917	$	—	$	917

Houston Electric


	March 31, 2022						December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Investments, including money market funds (1)	$	24	$	—	$	—	$	24	$	27	$	—	$	—	$	27

Total assets	$	24	$	—	$	—	$	24	$	27	$	—	$	—	$	27

CERC


	March 31, 2022						December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)

Investments, including money market funds (1)	$	14	$	—	$	—	$	14	$	14	$	—	$	—	$	14
Total assets	$	14	$	—	$	—	$	14	$	14	$	—	$	—	$	14

(1)Amounts are included in Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets.

Estimated Fair Value of Financial Instruments


	March 31, 2022						December 31, 2021
	CenterPoint Energy (1)		Houston Electric (1)		CERC		CenterPoint Energy (1)		Houston Electric (1)		CERC
Long-term debt, including current maturities	(in millions)


Carrying amount	$	13,870	$	6,243	$	3,180	$	16,086	$	5,495	$	4,380
Fair value	14,056		6,378		3,277		17,385		6,230		4,682

(1)Includes Securitization Bond debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

In 2021 Houston Electric entered into a temporary short-term lease and a long-term lease, each for mobile generation. The short-term lease agreement allows Houston Electric to take delivery of mobile generation assets on a short-term basis with a term ending in the third quarter of 2022. Per Houston Electric’s short term lease accounting policy election, a ROU asset and lease liability are not reflected on Houston Electric’s Condensed Consolidated Balance Sheets. Expenses associated with the short-term lease, including carrying costs, are deferred to a regulatory asset and totaled $51 million and $20 million as of March 31, 2022 and December 31, 2021, respectively.

Houston Electric took delivery of an additional 128 MW of mobile generation under the long-term lease in the first quarter of 2022 and remitted a cash payment under the lease of $171 million. These assets were previously available under the short-term lease agreement. Houston Electric derecognized the finance lease liability when the extinguishment criteria in Topic 405 - Liabilities was achieved. Per the terms of the agreement, lease payments are due and made in full by Houston Electric upon taking possession of the asset, relieving substantially all of the associated finance lease liability as of March 31, 2022. The remaining finance lease liability associated with the commenced long-term mobile generation agreement was not significant as of March 31, 2022 and December 31, 2021 and relates to removal costs that will be incurred at the end of the lease term. The long-term lease agreement includes up to 505 MW of mobile generation of which 253 MW and 125 MW was delivered as of March 31, 2022 and December 31, 2021, respectively, triggering lease commencement at delivery, and has an initial term ending in 2029 for all mobile generation leases. As of March 31, 2022, Houston Electric has secured a first lien on all the generation equipment leases and no amount of the payments made by Houston Electric were held in escrow.

The components of lease cost, included in Operation and maintenance expense on the Registrants’ respective Statements of Consolidated Income, are as follows:


	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Operating lease cost	$	2	$	—	$	1	$	2	$	—	$	1
Short-term lease cost	46		46		—		10		10		—
Variable lease cost	(1)		(1)		—		—		—		—
Total lease cost (1)	$	47	$	45	$	1	$	12	$	10	$	1

(1) CenterPoint Energy and Houston Electric defer finance lease costs for mobile generation to Regulatory assets for recovery rather than to Depreciation and Amortization in the Statements of Consolidated Income.

The components of lease income were as follows:


	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Operating lease income	$	1	$	—	$	1	$	2	$	—	$	1
Variable lease income	—		—		—		—		—		—
Total lease income	$	1	$	—	$	1	$	2	$	—	$	1

Supplemental balance sheet information related to leases was as follows:


	March 31, 2022									December 31, 2021
	CenterPoint Energy			Houston Electric			CERC			CenterPoint Energy			Houston Electric			CERC
	(in millions, except lease term and discount rate)
Assets:
Operating ROU assets (1)	$	16		$	1		$	7		$	22		$	1		$	12
Finance ROU assets (2)	344			343			—			179			179			—
Total leased assets	$	360		$	344		$	7		$	201		$	180		$	12

Liabilities:
Current operating lease liability (3)	$	4		$	—		$	2		$	6		$	1		$	2
Non-current operating lease liability (4)	12			1			5			17			—			11
Total leased liabilities (5)	$	16		$	1		$	7		$	23		$	1		$	13

Weighted-average remaining lease term (in years) - operating leases	5.2			4.3			4.5			6.2			4.1			6.5
Weighted-average discount rate - operating leases	3.20		%	3.00		%	3.52		%	3.10		%	2.86		%	3.20		%
Weighted-average remaining lease term (in years) - finance leases	7.3			7.3			—			7.5			7.5			—
Weighted-average discount rate - finance leases	2.21		%	2.21		%	—			2.21		%	2.21		%	—

(1)Reported within Other assets in the Registrants’ respective Consolidated Balance Sheets.

(2)Reported within Property, Plant and Equipment in the Registrants’ respective Consolidated Balance Sheets. Finance lease assets are recorded net of accumulated amortization.

(3)Reported within Current other liabilities in the Registrants’ respective Consolidated Balance Sheets.

(4)Reported within Other liabilities in the Registrants’ respective Consolidated Balance Sheets.

(5)Finance lease liabilities were not material as of December 31, 2021 or 2020 and are reported within Other long-term debt in the Registrants’ respective Consolidated Balance Sheets when applicable.

As of March 31, 2022, finance lease liabilities were not significant to the Registrants. As of March 31, 2022, maturities of operating lease liabilities were as follows:


	CenterPoint Energy		Houston Electric		CERC
	(in millions)
Remainder of 2022	$	4	$	1	$	1
2023	4		—		2
2024	3		—		2
2025	2		—		1
2026	2		—		1
2027 and beyond	3		—		1
Total lease payments	18		1		8
Less: Interest	2		—		1
Present value of lease liabilities	$	16	$	1	$	7

As of March 31, 2022, future minimum finance lease payments were not significant to the Registrants, exclusive of approximately $347 million of legally-binding undiscounted minimum lease payments for finance leases for approximately 252 MW of mobile generation leases signed but not yet commenced. As of March 31, 2022, maturities of undiscounted operating lease payments to be received are as follows:


	CenterPoint Energy		Houston Electric		CERC
	(in millions)
Remainder of 2022	$	5	$	1	$	3
2023	5		—		3
2024	5		—		3
2025	5		—		3
2026	6		—		4
2027	6		—		4
2028 and beyond	136		—		132
Total lease payments to be received	$	168	$	1	$	152

Other information related to leases is as follows:


	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Operating cash flows from operating leases included in the measurement of lease liabilities	$	2	$	—	$	1	$	2	$	—	$	1
Financing cash flows from finance leases included in the measurement of lease liabilities	171		171		—		—		—		—

See Note 16 for information on ROU assets obtained in exchange for operating lease liabilities.

Goodwill and Other Intangibles (CenterPoint Energy and CERC) (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

CenterPoint Energy’s goodwill by reportable segment is as follows:


	December 31, 2021		March 31, 2022
	(in millions)
Electric (1)	$	936	$	936
Natural Gas (2)	2,920		2,920
Corporate and Other	438		438

Total	$	4,294	$	4,294

CERC’s goodwill is as follows:


	December 31, 2021		March 31, 2022
	(in millions)
Goodwill (2)	$	611	$	611

(1)Amount presented is net of the accumulated goodwill impairment charge of $185 million recorded in 2020.

Schedule of Finite-Lived Intangible Assets


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
	(in millions)
Customer relationships	$	33	$	(13)	$	20	$	33	$	(12)	$	21

Trade names	16		(5)		11		16		(5)		11

Operation and maintenance agreements (1)	12		(1)		11		12		(1)		11
Other	2		(1)		1		2		(1)		1
Total	$	63	$	(20)	$	43	$	63	$	(19)	$	44

Finite-lived Intangible Assets Amortization Expense


	Three Months Ended March 31,
			2022		2021
		(in millions)
Amortization expense of intangible assets recorded in Depreciation and amortization			$	1	$	1

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

CenterPoint Energy estimates that amortization expense of intangible assets with finite lives for the next five years will be as follows:


	Amortization Expense

	(in millions)
Remaining nine months of 2022	$	5
2023	6
2024	5
2025	5
2026	5
2027	4

Subsequent Events (CenterPoint Energy) (Tables)

3 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Schedule of Subsequent Events

CenterPoint Energy Dividend Declarations

Equity Instrument

Declaration Date

Record Date

Payment Date

Per Share

Common Stock

April 22, 2022

May 19, 2022

June 9, 2022

0.1700

Commitments and Contingencies - Schedule of Undiscounted Minimum Purchase Obligations (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Natural Gas and Coal
Other Commitments [Line Items]
Remaining nine months of 2022	$ 521
2023	726
2024	638
2025	451
2026	324
2027	305
2028 and beyond	1,319
Other
Other Commitments [Line Items]
Remaining nine months of 2022	99
2023	503
2024	181
2025	30
2026	30
2027	72
2028 and beyond	$ 544
Other \| Capital Addition Purchase Commitments \| Minimum
Other Commitments [Line Items]
Undiscounted minimum payment obligation, term	15 years
Other \| Capital Addition Purchase Commitments \| Maximum
Other Commitments [Line Items]
Undiscounted minimum payment obligation, term	25 years
Natural Gas
Other Commitments [Line Items]
Remaining nine months of 2022	$ 348
2023	535
2024	507
2025	339
2026	246
2027	241
2028 and beyond	$ 1,079

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy) - Schedule of Gain (Loss) On Equity Securities (CenterPoint Energy) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Gain (loss) on equity securities	$ (17)	$ (23)
AT&T Common
Debt and Equity Securities, FV-NI [Line Items]
Gain (loss) on equity securities	(10)	15
Charter Common
Debt and Equity Securities, FV-NI [Line Items]
Gain (loss) on equity securities	(93)	(38)
Energy Transfer Common Units
Debt and Equity Securities, FV-NI [Line Items]
Gain (loss) on equity securities	95	0
Energy Transfer Series G Preferred Units
Debt and Equity Securities, FV-NI [Line Items]
Gain (loss) on equity securities	$ (9)	$ 0

Supplemental Disclosure of Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Information [Abstract]
Interest, net of capitalized interest	$ 24	$ 21
Income tax refunds, net	0	0
Accounts payable related to capital expenditures	79	56
ROU assets obtained in exchange for lease liabilities (1)	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	4		$ 8
Total cash, cash equivalents and restricted cash shown in Condensed Statements of Consolidated Cash Flows	4	$ 1	8	$ 1
Bond Companies
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	104		92
Prepaid Expenses and Other Current Assets
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Restricted cash included in Prepaid expenses and other current assets	$ 0		$ 0

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy) - Narrative (Details) $ in Millions		3 Months Ended
	Apr. 08, 2022 shares	Mar. 31, 2022 USD ($) shares	Mar. 31, 2021 USD ($)	Dec. 31, 2021 shares	Sep. 30, 1999 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Unrealized losses \| $		$ (103)	$ (23)
Subsequent Event
Debt and Equity Securities, FV-NI [Line Items]
Shares received	0.241917
Stock representing share of new company (as a percent)	71.00%
AT&T Common \| Subordinated Debt ZENS
Debt and Equity Securities, FV-NI [Line Items]
Number of shares referenced in exchangeable subordinated note		0.7185		0.7185
AT&T Common \| Subordinated Debt ZENS \| Subsequent Event
Debt and Equity Securities, FV-NI [Line Items]
Number of shares referenced in exchangeable subordinated note	0.7185
Charter Common \| Subordinated Debt ZENS
Debt and Equity Securities, FV-NI [Line Items]
Number of shares referenced in exchangeable subordinated note		0.061382		0.061382
Charter Common \| Subordinated Debt ZENS \| Subsequent Event
Debt and Equity Securities, FV-NI [Line Items]
Number of shares referenced in exchangeable subordinated note	0.061382
WBD Common \| Subordinated Debt ZENS \| Subsequent Event
Debt and Equity Securities, FV-NI [Line Items]
Number of shares referenced in exchangeable subordinated note	0.173817
Subordinated Debt ZENS
Debt and Equity Securities, FV-NI [Line Items]
Principal amount of ZENS issued or outstanding \| $		$ 828			$ 1,000
Subordinated note cash exchangeable percentage of fair value (as a percent)		95.00%
ZENS annual interest rate (as a percent)		2.00%
Target annual yield on reference shares (as a percent)		2.309%
Contingent principal amount of ZENS \| $		$ 33

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Income Tax Contingency [Line Items]
Effective income tax rate (as a percent)	22.00%	13.00%
Net uncertain tax liability	$ 4
Unrecognized tax benefits as a result of lapse of communication	$ 3
Continuing Operations
Income Tax Contingency [Line Items]
Effective income tax rate (as a percent)	26.00%	22.00%
Discontinued Operations
Income Tax Contingency [Line Items]
Effective income tax rate (as a percent)	0.00%	23.00%

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Long-term Purchase Commitment

As of March 31, 2022, undiscounted minimum purchase obligations are approximately:


	CenterPoint Energy				CERC
	Natural Gas and Coal Supply		Other (1)		Natural Gas Supply
	(in millions)
Remaining nine months of 2022	$	521	$	99	$	348
2023	726		503		535
2024	638		181		507
2025	451		30		339
2026	324		30		246
2027	305		72		241
2028 and beyond	1,319		544		1,079

Schedule of Environmental Loss Contingencies by Site


	March 31, 2022
	CenterPoint Energy		CERC
	(in millions, except years)
Amount accrued for remediation	$	17	$	12
Minimum estimated remediation costs	12		9
Maximum estimated remediation costs	51		29
Minimum years of remediation	5		30
Maximum years of remediation	50		50

Condensed Statements of Consolidated Changes in Equity - USD ($) $ in Millions	Total	Series A Preferred Stock	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI Attributable to Parent
Balance, beginning of period (in shares) at Dec. 31, 2020			3,000,000
Balance, beginning of period at Dec. 31, 2020			$ 2,363	$ 0	$ 2,046	$ 511	$ 10
Balance, end of period (in shares) at Mar. 31, 2021			3,000,000
Balance, beginning of period (in shares) at Dec. 31, 2020				1,000,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances related to benefit and investment plans (in shares)				1,000,000
Issuances related to benefit and investment plans				$ 0	2
Net income	$ 151					151
Other comprehensive income (loss)							3
Balance, end of period (in shares) at Mar. 31, 2021				1,000,000,000
Balance, end of period at Mar. 31, 2021	$ 2,718		$ 2,363	$ 0	2,046	662	10
Balance, beginning of period (in shares) at Dec. 31, 2021	800,000	800,000	1,000,000
Balance, beginning of period at Dec. 31, 2021	$ 3,001		$ 790	$ 0	2,226	765	10
Balance, end of period (in shares) at Mar. 31, 2022	800,000	800,000	1,000,000
Balance, beginning of period (in shares) at Dec. 31, 2021	628,923,534			1,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances related to benefit and investment plans (in shares)				0
Issuances related to benefit and investment plans				$ 0	3
Net income	$ 554					554
Other comprehensive income (loss)							2
Balance, end of period (in shares) at Mar. 31, 2022	629,432,406			1,000
Balance, end of period at Mar. 31, 2022	$ 2,859		$ 790	$ 0	$ 1,553	$ 1,296	$ 10

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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Condensed Statements of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 554	$ 151
Other comprehensive income:
Adjustment to pension and other postretirement plans (net of tax of $-0- and $-0-)	1	2
Reclassification of deferred loss from cash flow hedges realized in net income (net of tax of $-0- and $-0-)	1	0
Other comprehensive income from unconsolidated affiliates (net of tax of $-0- and $-0-)	0	1
Total	0	0
Comprehensive income	554	151
Income allocated to preferred shareholders	13	29
Comprehensive income available to common shareholders	$ 520	$ 337

Condensed Statements of Consolidated Cash Flows - CERC - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net income	$ 554	$ 151
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	72	80
Deferred income taxes	196	41
Gain on divestitures	(557)	0
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	(176)	(41)
Accounts receivable/payable–affiliated companies	90	(5)
Inventory	133	64
Accounts payable	(74)	(10)
Net regulatory assets and liabilities	125	(2,065)
Other current assets and liabilities	(14)	7
Other non-current assets and liabilities	(3)	(10)
Other operating activities, net	1	1
Net cash provided by (used in) operating activities	347	(1,787)
Cash Flows from Investing Activities:
Capital expenditures	(197)	(133)
Proceeds from divestitures	2,060	0
Other investing activities, net	(3)	2
Net cash provided by (used in) investing activities	1,860	(131)
Cash Flows from Financing Activities:
Decrease in short-term borrowings, net	(43)	0
Proceeds from (payments of) commercial paper, net	(776)	226
Proceeds from long-term debt	0	1,699
Payments of long-term debt, including make-whole premiums	(425)	0
Dividend to parent	(743)	0
Payment of debt issuance costs	0	(6)
Decrease in notes payable–affiliated companies	(224)	0
Other financing activities, net	0	(1)
Net cash provided by (used in) financing activities	(2,211)	1,918
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(4)	0
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	8	1
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 4	$ 1

Short-term Borrowings and Long-term Debt

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Short-term Borrowings and Long-term Debt

Inventory Financing. CenterPoint Energy’s and CERC’s Natural Gas businesses have third-party AMAs associated with their utility distribution service in Indiana, Louisiana, Minnesota, Mississippi and Texas. The AMAs have varying terms, the longest of which expires in 2027. Pursuant to the provisions of the agreements, CenterPoint Energy’s and CERC’s Natural Gas either sells natural gas to the asset manager and agrees to repurchase an equivalent amount of natural gas throughout the year at the same cost, or simply purchases its full natural gas requirements at each delivery point from the asset manager. These transactions are accounted for as an inventory financing. CenterPoint Energy and CERC had $-0- and $7 million outstanding obligations related to the AMAs as of March 31, 2022 and December 31, 2021, respectively, recorded in Short-term borrowings on CenterPoint Energy’s and CERC’s Condensed Consolidated Balance Sheets. Outstanding obligations related to third-party AMAs associated with utility distribution service in Arkansas and Oklahoma of $36 million as of December 31, 2021 are reflected in current liabilities held for sale on CenterPoint Energy’s and CERC’s Condensed Consolidated Balance Sheets. See Note 3 for further information.

Debt Transactions. During the three months ended March 31, 2022, the following debt instruments were issued or incurred:


Registrant	Issuance Date	Debt Instrument	Aggregate Principal Amount		Interest Rate	Maturity Date
	(in millions)



Houston Electric	February 2022	General Mortgage Bonds	$	300	3.00%	2032
Houston Electric	February 2022	General Mortgage Bonds	500		3.60%	2052
		Total Houston Electric (1)	800


		Total CenterPoint Energy	$	800

Debt Repayments and Redemptions. During the three months ended March 31, 2022, the following debt instruments were repaid at maturity or redeemed prior to maturity with proceeds received from the sale of Energy Transfer units discussed further in Note 10:


Registrant	Repayment/Redemption Date	Debt Instrument	Aggregate Principal		Interest Rate	Maturity Date
			(in millions)
CERC (1)	January 2022	Floating Rate Senior Notes	$	425	Three-month LIBOR plus 0.5%	2023
		Total CERC	425


CenterPoint Energy (2)	January 2022	First Mortgage Bonds	5		0.82%	2022
CenterPoint Energy (3)	March 2022	Senior Notes	250		3.85%	2024
CenterPoint Energy (4)	March 2022	Senior Notes	350		4.25%	2028
		Total CenterPoint Energy	$	1,030

(2)First Mortgage Bonds issued by SIGECO.

Credit Facilities.

The Registrants had the following revolving credit facilities as of March 31, 2022:


Execution Date	Registrant	Size of Facility		Draw Rate of LIBOR plus (1)	Financial Covenant Limit on Debt for Borrowed Money to Capital Ratio		Debt for Borrowed Money to Capital Ratio as of March 31, 2022 (2)	Termination Date
		(in millions)
February 4, 2021	CenterPoint Energy	$	2,400	1.625%	65.0%	(3)	56.9%	February 4, 2024
February 4, 2021	CenterPoint Energy (4)	400		1.250%	65.0%		47.0%	February 4, 2024

February 4, 2021	Houston Electric	300		1.375%	67.5%	(3)	53.7%	February 4, 2024
February 4, 2021	CERC	900		1.250%	65.0%		52.7%	February 4, 2024
	Total	$	4,000

(1)Based on current credit ratings.

(2)As defined in the revolving credit facility agreements, excluding Securitization Bonds.

The Registrants, including the subsidiaries of CenterPoint Energy discussed above, were in compliance with all financial debt covenants as of March 31, 2022.

The table below reflects the utilization of the Registrants’ respective revolving credit facilities:


	March 31, 2022								December 31, 2021
Registrant	Loans		Letters of Credit		Commercial Paper (1)		Weighted Average Interest Rate		Loans		Letters of Credit		Commercial Paper (1)		Weighted Average Interest Rate
	(in millions, except weighted average interest rate)
CenterPoint Energy	$	—	$	11	$	325	0.54	%	$	—	$	11	$	1,400	0.34	%
CenterPoint Energy (2)	—		—		260		0.58	%	—		—		350		0.21	%

Houston Electric	—		—		—		—	%	—		—		—		—	%
CERC	—		—		123		0.54	%	—		—		899		0.26	%
Total	$	—	$	11	$	708			$	—	$	11	$	2,649

(2)This credit facility was issued by VUHI and is guaranteed by SIGECO, Indiana Gas and VEDO.

Liens. As of March 31, 2022, Houston Electric’s assets were subject to liens securing approximately $5.8 billion of general mortgage bonds, including approximately $68 million held in trust to secure pollution control bonds that mature in 2028 for which CenterPoint Energy is obligated. The general mortgage bonds that are held in trust to secure pollution control bonds are not reflected in Houston Electric’s consolidated financial statements because of the contingent nature of the obligations. As of March 31, 2022, Houston Electric could issue approximately $4.1 billion of additional general mortgage bonds on the basis of retired bonds and 70% of property additions.

Other. As of March 31, 2022, certain financial institutions agreed to issue, from time to time, up to $20 million of letters of credit on behalf of Vectren and certain of its subsidiaries in exchange for customary fees. These agreements to issue letters of credit expire on February 4, 2024. As of March 31, 2022, such financial institutions had issued $1 million of letters of credit on behalf of Vectren and certain of its subsidiaries.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Reportable Segments

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Reportable Segments

The Registrants’ determination of reportable segments considers the strategic operating units under which its CODM manages sales, allocates resources and assesses performance of various products and services to wholesale or retail customers in differing regulatory environments. Each Registrant’s CODM views net income as the measure of profit or loss for the reportable segments. Certain prior year amounts have been reclassified for discontinued operations as described below. Additionally, during the three months ended March 31, 2022, CenterPoint Energy sold certain assets previously owned by entities within Corporate and Other to businesses within the Electric and Natural Gas reportable segments. Prior year amounts were reclassified as a result of this transaction in the three months ended March 31, 2022 and as described in the combined 2021 Form 10-K.

In 2021, CenterPoint Energy’s equity investment in Enable was classified and presented as held for sale and discontinued operations. On December 2, 2021, Enable completed the previously announced Enable Merger pursuant to the Enable Merger Agreement entered into on February 16, 2021. See Note 3 for further information.

As of March 31, 2022, reportable segments by Registrant were as follows:

CenterPoint Energy

•CenterPoint Energy’s Electric reportable segment consisted 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, industrial and institutional 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.

CenterPoint Energy’s Corporate and Other category consists of energy performance contracting and sustainable infrastructure services through Energy Systems Group and other corporate operations which support all of the business operations of CenterPoint Energy.

Houston Electric

•Houston Electric’s single reportable segment consisted of electric transmission services to transmission service customers in the ERCOT region and distribution services to REPs serving the Texas gulf coast area.

CERC

•CERC’s single reportable segment consisted of (i) intrastate natural gas sales to, and natural gas transportation and distribution for residential, commercial, industrial and institutional customers in Louisiana, Minnesota, Mississippi and Texas; and (ii) permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies through CEIP.

Financial data for reportable segments is as follows, including Corporate and Other and Discontinued Operations for reconciliation purposes:

CenterPoint Energy














	Three Months Ended March 31,
	2022			2021
	Revenues from External Customers			Net Income		Revenues from External Customers			Net Income (Loss)
	(in millions)
Electric	$	893	(1)	$	82	$	830	(1)	$	75
Natural Gas	1,824			398		1,663			229

Corporate and Other	46			51		54			(24)

Continuing Operations	$	2,763		531		$	2,547		280
Discontinued Operations, net				—					83
Consolidated				$	531				$	363

(1)Houston Electric revenues from major external customers are as follows (CenterPoint Energy and Houston Electric):


	Three Months Ended March 31,
			2022		2021
		(in millions)
Affiliates of NRG			$	225	$	195
Affiliates of Vistra Energy Corp.			105		88


	Total Assets
	March 31, 2022		December 31, 2021
	(in millions)
Electric	$	17,258	$	16,547
Natural Gas	16,306		16,267

Corporate and Other, net of eliminations (1)	1,638		2,527

Continuing Operations	35,202		35,341
Assets Held for Sale	—		2,338
Consolidated	$	35,202	$	37,679

(1)Total assets included pension and other postemployment-related regulatory assets of $423 million and $427 million as of March 31, 2022 and December 31, 2021, respectively.

Houston Electric

Houston Electric consists of a single reportable segment; therefore, a tabular reportable segment presentation has not been included.

CERC

CERC consists of a single reportable segment; therefore, a tabular reportable segment presentation has not been included.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Commitment and Contingencies - Schedule of Estimated Accrued Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Minnesota and Indiana Gas Service Territories
Loss Contingencies [Line Items]
Liability recorded for environmental loss contingencies	$ 17
Minnesota and Indiana Gas Service Territories \| Minimum
Loss Contingencies [Line Items]
Estimated remediation costs	$ 12
Years to resolve contingency	5 years
Minnesota and Indiana Gas Service Territories \| Maximum
Loss Contingencies [Line Items]
Estimated remediation costs	$ 51
Years to resolve contingency	50 years
Minnesota Service Territory
Loss Contingencies [Line Items]
Liability recorded for environmental loss contingencies	$ 12
Minnesota Service Territory \| Minimum
Loss Contingencies [Line Items]
Estimated remediation costs	$ 9
Years to resolve contingency	30 years
Minnesota Service Territory \| Maximum
Loss Contingencies [Line Items]
Estimated remediation costs	$ 29
Years to resolve contingency	50 years

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy) - Schedule of Securities Classified as Trading (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Carrying Value	$ 720	$ 1,439
AT&T Common
Debt and Equity Securities, FV-NI [Line Items]
Balance of investment owned (in shares)	10,212,945	10,212,945
Carrying Value	$ 241	$ 251
Charter Common
Debt and Equity Securities, FV-NI [Line Items]
Balance of investment owned (in shares)	872,503	872,503
Carrying Value	$ 476	$ 569
Energy Transfer Common Units
Debt and Equity Securities, FV-NI [Line Items]
Balance of investment owned (in shares)	0	50,999,768
Carrying Value	$ 0	$ 420
Energy Transfer Series G Preferred Units
Debt and Equity Securities, FV-NI [Line Items]
Balance of investment owned (in shares)	0	192,390
Carrying Value	$ 0	$ 196
Other
Debt and Equity Securities, FV-NI [Line Items]
Carrying Value	$ 3	$ 3

Subsequent Events (CenterPoint Energy)

3 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Subsequent Events (CenterPoint Energy)

Subsequent Events (CenterPoint Energy) CenterPoint Energy Dividend Declarations

Equity Instrument

Declaration Date

Record Date

Payment Date

Per Share

Common Stock

April 22, 2022

May 19, 2022

June 9, 2022

0.1700

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic cost (benefit)	$ 5	$ 8
Total contributions expected in current year	0
Total contributions to the plans during the period	0
Pension Benefits \| Operation and maintenance expense
Defined Benefit Plan Disclosure [Line Items]
Service cost	8	10
Pension Benefits \| Other, net
Defined Benefit Plan Disclosure [Line Items]
Interest cost	15	15
Expected return on plan assets	(25)	(26)
Amortization of net loss	7	9
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic cost (benefit)	1	1
Total contributions expected in current year	3
Total contributions to the plans during the period	0
Other Postretirement Benefits Plan \| Operation and maintenance expense
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Other Postretirement Benefits Plan \| Other, net
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1	1
Expected return on plan assets	0	0
Amortization of prior service cost (credit)	0	0
Amortization of net loss	$ 0	$ 0

Equity Securities and Indexed Debt Securities (ZENS) (CenterPoint Energy) (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Indexed Debt Securities and Marketable Securities

CenterPoint Energy’s sales of equity securities during the three months ended March 31, 2022 are as follows:


Equity Security/Date Sold	Units Sold	Proceeds (1)
		(in millions)
Energy Transfer Common Units
February and March 2022	50,999,768	$	515
Energy Transfer Series G Preferred Units
March 2022	192,390	$	187

(1)Proceeds are net of transaction costs.

CenterPoint Energy’s reference shares for each ZENS consisted of the following:


	March 31, 2022	December 31, 2021
	(in shares)
AT&T Common	0.7185	0.7185
Charter Common	0.061382	0.061382

Gain (Loss) on Securities

Gains and losses on equity securities, net of transaction costs, are recorded in Loss on Equity Securities in CenterPoint Energy’s Statements of Consolidated Income.


	Gains (Losses) on Equity Securities
	Three Months Ended March 31,
	2022		2021
	(in millions)
AT&T Common	$	(10)	$	15
Charter Common	(93)		(38)
Energy Transfer Common Units	95		—
Energy Transfer Series G Preferred Units	(9)		—

	$	(17)	$	(23)

Debt Securities, Trading, and Equity Securities, FV-NI


	Shares Held		Carrying Value
	March 31, 2022	December 31, 2021	March 31, 2022		December 31, 2021
			(in millions)
AT&T Common	10,212,945	10,212,945	$	241	$	251
Charter Common	872,503	872,503	476		569
Energy Transfer Common Units	—	50,999,768	—		420
Energy Transfer Series G Preferred Units	—	192,390	—		196
Other			3		3
			$	720	$	1,439

Divestitures (CenterPoint Energy and CERC) - Schedule of Assets and Liabilities Classified as Held-For-Sale (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract]
Total current assets held for sale	$ 0	$ 2,084
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]
Total current liabilities held for sale	$ 0	562
Arkansas and Oklahoma Natural Gas Businesses \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract]
Receivables, net		46
Accrued unbilled revenues		48
Natural gas inventory		46
Materials and supplies		9
Property, plant and equipment, net		1,314
Goodwill (1)		144
Regulatory assets		471
Other		6
Total current assets held for sale		2,084
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]
Short term borrowings		36
Accounts payable		40
Taxes accrued		7
Customer deposits		12
Regulatory liabilities		365
Other		102
Total current liabilities held for sale		$ 562

Short-term Borrowings and Long-term Debt - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Size of credit facility	$ 4,000
Third Party AMAs
Debt Instrument [Line Items]
Inventory financings	0	$ 7
Third Party AMAs \| Arkansas and Oklahoma Natural Gas Businesses \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Debt Instrument [Line Items]
Inventory financings		36
Letter of Credit
Debt Instrument [Line Items]
Long-term line of credit	11	$ 11
General Mortgage Bonds
Debt Instrument [Line Items]
Secured Debt	5,800
General mortgage bonds used as collateral	68
Additional first mortgage bonds and general mortgage bonds that could be issued	$ 4,100
Percentage of property additions	70.00%
Parent Company
Debt Instrument [Line Items]
Size of credit facility	$ 2,400
Vectren \| Letter of Credit
Debt Instrument [Line Items]
Long-term line of credit	1
Vectren \| Maximum \| Letter of Credit
Debt Instrument [Line Items]
Long-term line of credit	$ 20

Supplemental Disclosure of Cash Flow Information

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosure of Cash Flow Information

The table below provides supplemental disclosure of cash flow information:


	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Cash Payments/Receipts:
Interest, net of capitalized interest	$	134	$	63	$	24	$	159	$	70	$	21
Income tax refunds, net	(15)		—		—		(4)		—		—
Non-cash transactions:
Accounts payable related to capital expenditures	307		232		79		166		140		56
ROU assets obtained in exchange for lease liabilities (1)	—		—		—		1		—		—

(1) Excludes ROU assets obtained through prepayment of the lease liabilities. See Note 19.


	March 31, 2022						December 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Cash and cash equivalents (1)	$	125	$	104	$	4	$	230	$	214	$	8
Restricted cash included in Prepaid expenses and other current assets	22		18		—		24		19		—

Total cash, cash equivalents and restricted cash shown in Condensed Statements of Consolidated Cash Flows	$	147	$	122	$	4	$	254	$	233	$	8

(1)Houston Electric’s Cash and cash equivalents as of March 31, 2022 and December 31, 2021 included $104 million and $92 million, respectively, of cash related to the Bond Companies.

Condensed Statements of Consolidated Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net income	$ 554	$ 151
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	72	80
Deferred income taxes	196	41
Gain on divestitures	(557)	0
Loss on equity securities	17	23
Gain on indexed debt securities	(106)	(26)
Equity in (earnings) losses of unconsolidated affiliates	0	(108)
Distributions from unconsolidated affiliates	0	39
Pension contributions	(2)	(8)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	(176)	(41)
Inventory	133	64
Taxes receivable	1	3
Accounts payable	(74)	(10)
Net regulatory assets and liabilities	125	(2,065)
Other current assets and liabilities	(14)	7
Other non-current assets and liabilities	(3)	(10)
Other operating activities, net	1	1
Net cash provided by (used in) operating activities	347	(1,787)
Cash Flows from Investing Activities:
Capital expenditures	(197)	(133)
Proceeds from Sale and Maturity of Marketable Securities	702	0
Proceeds from divestitures	2,060	0
Other investing activities, net	(3)	2
Net cash provided by (used in) investing activities	1,860	(131)
Cash Flows from Financing Activities:
Decrease in short-term borrowings, net	(43)	0
Payment of obligation for finance lease	0	0
Proceeds from (payments of) commercial paper, net	(776)	226
Proceeds from long-term debt	0	1,699
Payments of long-term debt, including make-whole premiums	(425)	0
Payment of debt issuance costs	0	(6)
Payment of dividends on Common Stock	(107)	(88)
Payment of dividends on Preferred Stock	(24)	(48)
Other financing activities, net	0	(1)
Net cash provided by (used in) financing activities	(2,211)	1,918
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(4)	0
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	8	1
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 4	$ 1

Related Party Transactions (Houston Electric and CERC) (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Money Pool Investment and Borrowing

The table below summarizes CenterPoint Energy money pool activity:


	March 31, 2022						December 31, 2021
	Houston Electric			CERC			Houston Electric			CERC
	(in millions, except interest rates)
Money pool investments (borrowings) (1)	$	354		$	—		$	(512)		$	(224)
Weighted average interest rate	0.55		%	0.55		%	0.34		%	0.34		%

(1)Included in Accounts and notes receivable (payable)–affiliated companies on Houston Electric’s and CERC’s respective Condensed Consolidated Balance Sheets.

Schedule of Related Party Transactions

Amounts charged for these services were as follows and are included primarily in operation and maintenance expenses:


	Three Months Ended March 31,
		2022	2021
			Houston Electric		CERC		Houston Electric		CERC
			(in millions)
Corporate service charges			$	39	$	45	$	43	$	50
Net affiliate service charges (billings)			(6)		6		(1)		1

The table below presents transactions among Houston Electric, CERC and their parent, CenterPoint Energy.


	Three Months Ended March 31,
		2022	2021
			Houston Electric		CERC		Houston Electric		CERC
			(in millions)
Cash dividends paid to parent			$	37	$	23	$	—	$	—
Cash dividend paid to parent related to the sale of the Arkansas and Oklahoma Natural Gas businesses			—		720		—		—
Cash contribution from parent			637		—		—		—
Non-cash capital contribution from parent in payment for property, plant and equipment below			38		46		—		—
Payable to parent for property, plant and equipment below			52		41		—		—
Property, plant and equipment from parent (1)			90		87		—		—

(1) Property, plant and equipment purchased from CenterPoint Energy at its net carrying value on the date of purchase.

Condensed Statements of Consolidated Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Adjustment to pension and other postretirement plans, tax	$ 0	$ 0
Reclassification of deferred loss from cash flow hedges realized in net income, tax	0	0
Other comprehensive income (loss) from unconsolidated affiliates, tax	$ 0	$ 0

Earnings Per Share (CenterPoint Energy)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share (CenterPoint Energy)

Earnings Per Share (CenterPoint Energy)The Series C Preferred Stock issued in May 2020 were considered participating securities since these shares participated in dividends on Common Stock on a pari passu, pro rata, as-converted basis. As a result, beginning June 30, 2020, earnings per share on Common Stock was computed using the two-class method required for participating securities during the periods the Series C Preferred Stock was outstanding. As of May 7, 2021, all of the remaining outstanding Series C Preferred Stock were

converted into shares of Common Stock and earnings per share on Common Stock and, as such, the two-class method was no longer applicable beginning June 30, 2021.

The two-class method uses an earnings allocation formula that treats participating securities as having rights to earnings that otherwise would have been available only to common shareholders. Under the two-class method, income (loss) available to common shareholders from continuing operations is derived by subtracting the following from income (loss) from continuing operations:

•preferred share dividend requirement;

•deemed dividends for the amortization of the beneficial conversion feature recognized at issuance of the Series C Preferred Stock; and

•an allocation of undistributed earnings to preferred shareholders of participating securities (Series C Preferred Stock) based on the securities’ right to receive dividends.

Undistributed earnings are calculated by subtracting dividends declared on Common Stock, the preferred share dividend requirement and deemed dividends for the amortization of the beneficial conversion feature from net income. Net losses are not allocated to the Series C Preferred Stock as it does not have a contractual obligation to share in the losses of CenterPoint Energy.

Basic earnings per common share is computed by dividing income available to common shareholders from continuing operations by the basic weighted average number of common shares outstanding during the period. Participating securities are excluded from basic weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing income available to common shareholders from continuing operations by the weighted average number of common shares outstanding, including all potentially dilutive common shares, if the effect of such common shares is dilutive.

Diluted earnings per share reflects the dilutive effect of potential common shares from share-based awards and convertible preferred shares. The dilutive effect of Series B Preferred Stock and Series C Preferred Stock is computed using the if-converted method, as applicable, which assumes conversion of Series B Preferred Stock and Series C Preferred Stock at the beginning of the period, giving income recognition for the add-back of the preferred share dividends, amortization of beneficial conversion feature, and undistributed earnings allocated to preferred shareholders. The dilutive effect of restricted stock is computed using the treasury stock method, as applicable, which includes the incremental shares that would be hypothetically vested in excess of the number of shares assumed to be hypothetically repurchased with the assumed proceeds.

The following table reconciles numerators and denominators of CenterPoint Energy’s basic and diluted earnings per common share.


	Three Months Ended March 31,
	2022		2021
	(in millions, except per share and share amounts)
Numerator:
Income from continuing operations	$	531	$	280
Less: Preferred stock dividend requirement (Note 18)	13		29

Less: Undistributed earnings allocated to preferred shareholders (1)	—		23
Income available to common shareholders from continuing operations - basic	518		228
Add back: Series B Preferred Stock dividend	—		17
Add back: Undistributed earnings allocated to preferred shareholders (1)	—		23
Income available to common shareholders from continuing operations - diluted	518		268
Income available to common shareholders from discontinued operations - basic and diluted	—		83
Income available to common shareholders - basic and diluted	$	518	$	351
Denominator:
Weighted average common shares outstanding - basic	629,134,000		551,546,000
Plus: Incremental shares from assumed conversions:
Restricted stock	2,170,000		3,114,000
Series B Preferred Stock	—		35,937,000
Series C Preferred Stock	—		40,823,000
Weighted average common shares outstanding - diluted	631,304,000		631,420,000







Earnings Per Common Share:
Basic earnings per common share - continuing operations	$	0.82	$	0.41
Basic earnings per common share - discontinued operations	—		0.15
Basic Earnings Per Common Share	$	0.82	$	0.56
Diluted earnings per common share - continuing operations	$	0.82	$	0.43
Diluted earnings per common share - discontinued operations	—		0.13
Diluted Earnings Per Common Share	$	0.82	$	0.56

(1)There were no undistributed earnings to be allocated to participating securities for the three months ended March 31, 2022.

Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Lease, Cost

The components of lease cost, included in Operation and maintenance expense on the Registrants’ respective Statements of Consolidated Income, are as follows:


	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Operating lease cost	$	2	$	—	$	1	$	2	$	—	$	1
Short-term lease cost	46		46		—		10		10		—
Variable lease cost	(1)		(1)		—		—		—		—
Total lease cost (1)	$	47	$	45	$	1	$	12	$	10	$	1

Operating Lease, Lease Income

The components of lease income were as follows:


	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Operating lease income	$	1	$	—	$	1	$	2	$	—	$	1
Variable lease income	—		—		—		—		—		—
Total lease income	$	1	$	—	$	1	$	2	$	—	$	1

Supplemental Balance Sheet Information Related To Leases

Supplemental balance sheet information related to leases was as follows:


	March 31, 2022									December 31, 2021
	CenterPoint Energy			Houston Electric			CERC			CenterPoint Energy			Houston Electric			CERC
	(in millions, except lease term and discount rate)
Assets:
Operating ROU assets (1)	$	16		$	1		$	7		$	22		$	1		$	12
Finance ROU assets (2)	344			343			—			179			179			—
Total leased assets	$	360		$	344		$	7		$	201		$	180		$	12

Liabilities:
Current operating lease liability (3)	$	4		$	—		$	2		$	6		$	1		$	2
Non-current operating lease liability (4)	12			1			5			17			—			11
Total leased liabilities (5)	$	16		$	1		$	7		$	23		$	1		$	13

Weighted-average remaining lease term (in years) - operating leases	5.2			4.3			4.5			6.2			4.1			6.5
Weighted-average discount rate - operating leases	3.20		%	3.00		%	3.52		%	3.10		%	2.86		%	3.20		%
Weighted-average remaining lease term (in years) - finance leases	7.3			7.3			—			7.5			7.5			—
Weighted-average discount rate - finance leases	2.21		%	2.21		%	—			2.21		%	2.21		%	—

(1)Reported within Other assets in the Registrants’ respective Consolidated Balance Sheets.

(2)Reported within Property, Plant and Equipment in the Registrants’ respective Consolidated Balance Sheets. Finance lease assets are recorded net of accumulated amortization.

(3)Reported within Current other liabilities in the Registrants’ respective Consolidated Balance Sheets.

(4)Reported within Other liabilities in the Registrants’ respective Consolidated Balance Sheets.

Lessee, Operating Lease, Liability, Maturity

As of March 31, 2022, finance lease liabilities were not significant to the Registrants. As of March 31, 2022, maturities of operating lease liabilities were as follows:


	CenterPoint Energy		Houston Electric		CERC
	(in millions)
Remainder of 2022	$	4	$	1	$	1
2023	4		—		2
2024	3		—		2
2025	2		—		1
2026	2		—		1
2027 and beyond	3		—		1
Total lease payments	18		1		8
Less: Interest	2		—		1
Present value of lease liabilities	$	16	$	1	$	7

Lessor, Operating Lease, Payments to be Received, Maturity

As of March 31, 2022, maturities of undiscounted operating lease payments to be received are as follows:


	CenterPoint Energy		Houston Electric		CERC
	(in millions)
Remainder of 2022	$	5	$	1	$	3
2023	5		—		3
2024	5		—		3
2025	5		—		3
2026	6		—		4
2027	6		—		4
2028 and beyond	136		—		132
Total lease payments to be received	$	168	$	1	$	152

Other Information Related To Leases

Other information related to leases is as follows:


	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Operating cash flows from operating leases included in the measurement of lease liabilities	$	2	$	—	$	1	$	2	$	—	$	1
Financing cash flows from finance leases included in the measurement of lease liabilities	171		171		—		—		—		—

Derivative Instruments

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

The Registrants are exposed to various market risks. These risks arise from transactions entered into in the normal course of business. The Registrants utilize derivative instruments such as swaps and options to mitigate the impact of changes in commodity prices, weather and interest rates on operating results and cash flows.

(a)Non-Trading Activities

Commodity Derivative Instruments (CenterPoint Energy). CenterPoint Energy, through the Indiana Utilities, enters into certain derivative instruments to mitigate the effects of commodity price movements. Outstanding derivative instruments designated as economic hedges at the Indiana Utilities hedge long-term variable rate natural gas purchases. The Indiana Utilities have authority to refund and recover mark-to-market gains and losses associated with hedging natural gas purchases, and thus the gains and losses on derivatives are deferred in a regulatory liability or asset.

Interest Rate Risk Derivative Instruments. From time to time, the Registrants may enter into interest rate derivatives that are designated as economic or cash flow hedges. The objective of these hedges is to offset risk associated with interest rates borne by the Registrants in connection with an anticipated future fixed rate debt offering or other exposure to variable rate debt. The Indiana Utilities have authority to refund and recover mark-to-market gains and losses associated with hedging financing activity, and thus the gains and losses on derivatives are deferred in a regulatory liability or asset.

The table below summarizes the Registrants’ outstanding interest rate hedging activity:


	March 31, 2022		December 31, 2021
Hedging Classification	Notional Principal

	(in millions)
Economic hedge (1)	$	84	$	84

(1)Relates to interest rate derivative instruments at SIGECO.

Weather Normalization (CenterPoint Energy and CERC). CenterPoint Energy and CERC have weather normalization or other rate mechanisms that largely mitigate the impact of weather on Natural Gas in Indiana, Louisiana, Mississippi, Minnesota and Ohio, as applicable. CenterPoint Energy’s and CERC’s Natural Gas in Texas and CenterPoint Energy’s electric operations in Texas and Indiana do not have such mechanisms, although fixed customer charges are historically higher in Texas for Natural Gas compared to its other jurisdictions. As a result, fluctuations from normal weather may have a positive or negative effect on CenterPoint Energy’s and CERC’s Natural Gas’ results in Texas and on CenterPoint Energy’s electric operations’ results in its Texas and Indiana service territories. The Registrants do not currently enter into weather hedges.

(b)Derivative Fair Values and Income Statement Impacts

Fair Value of Derivative Instruments and Hedged Items (CenterPoint Energy)


		March 31, 2022				December 31, 2021
	Balance Sheet Location	Derivative Assets Fair Value		Derivative Liabilities Fair Value		Derivative Assets Fair Value		Derivative Liabilities Fair Value




Derivatives not designated as hedging instruments:		(in millions)
Natural gas derivatives (1)	Current Assets: Non-trading derivative assets	$	33	$	—	$	9	$	—
Natural gas derivatives (1)	Other Assets: Non-trading derivative assets	6		—		5		—

Interest rate derivatives	Current Liabilities: Non-trading derivative liabilities	—		1		—		2

Interest rate derivatives	Other Liabilities: Non-trading derivative liabilities	—		5		—		12
Indexed debt securities derivative (2)	Current Liabilities	—		797		—		903

Total		$	39	$	803	$	14	$	917

(2)Derivative component of the ZENS obligation that represents the ZENS holder’s option to receive the appreciated value of the reference shares at maturity. See Note 10 for further information.

Income Statement Impact of Hedge Accounting Activity (CenterPoint Energy)


		Three Months Ended March 31,
	Income Statement Location	2022		2021
Derivatives not designated as hedging instruments:		(in millions)
Indexed debt securities derivative (1)	Gain on indexed debt securities	$	106	$	26

(1)The indexed debt securities derivative is recorded at fair value and changes in the fair value are recorded in CenterPoint Energy’s Statements of Consolidated Income.

Certain of CenterPoint Energy’s derivative instruments contain provisions that require CenterPoint Energy’s debt to maintain an investment grade credit rating on its long-term unsecured unsubordinated debt from S&P and Moody’s. If

CenterPoint Energy’s debt were to fall below investment grade, it would be in violation of these provisions, and the counterparties to the derivative instruments could request immediate payment.


	March 31, 2022		December 31, 2021
	(in millions)
Aggregate fair value of derivatives with credit-risk-related contingent features in a liability position	$	6	$	14
Fair value of collateral already posted	7		7
Additional collateral required to be posted if credit risk contingent features triggered (1)	—		7

(1)The maximum collateral required if further escalating collateral is triggered would equal the net liability position.

Subsequent Events (CenterPoint Energy) (Details)	Apr. 22, 2022 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Quarterly cash distribution declared per share	$ 0.1700

Regulatory Matters

3 Months Ended

Mar. 31, 2022

Regulatory Assets and Liabilities, Other Disclosures [Abstract]

Regulatory Matters

Equity Return

The Registrants are at times allowed by a regulator to defer an equity return as part of the recoverable carrying costs of a regulatory asset. A deferred equity return is capitalized for rate-making purposes, but it is not included in the Registrant’s regulatory assets on its Condensed Consolidated Balance Sheets. The allowed equity return is recognized in the Condensed Statements of Consolidated Income as it is recovered in rates. The recoverable allowed equity return not yet recognized by the Registrants is as follows:


	March 31, 2022						December 31, 2021
	CenterPoint Energy (1)		Houston Electric (2)		CERC (3)		CenterPoint Energy (1)		Houston Electric (2)		CERC (3)
	(in millions)
Allowed equity return not recognized	$	195	$	95	$	16	$	199	$	100	$	16

(3)CERC’s allowed equity return on post in-service carrying cost associated with certain distribution facilities replacements expenditures in Texas.

The table below reflects the amount of allowed equity return recognized by each Registrant in its Condensed Statements of Consolidated Income:


	Three Months Ended March 31,
	2022						2021
	CenterPoint Energy		Houston Electric		CERC		CenterPoint Energy		Houston Electric		CERC
	(in millions)
Allowed equity return recognized	$	10	$	9	$	—	$	8	$	7	$	—

February 2021 Winter Storm Event

Amounts for the under recovery of natural gas costs associated with the February 2021 Winter Storm Event are reflected in current and non-current regulatory assets on CenterPoint Energy’s and CERC’s Condensed Consolidated Balance Sheets. Recovery of natural gas costs within the regulatory assets are probable and are subject to customary regulatory prudence reviews in all jurisdictions that may impact the amounts ultimately recovered. CenterPoint Energy and CERC, as applicable, have begun recovery of natural gas costs in Indiana, Louisiana, Mississippi and Minnesota. CenterPoint Energy and CERC have filed for securitization of natural gas costs in Texas, received commission approval and issuance of financing order in 2022, and expect the Texas Public Financing Authority to issue customer rate relief bonds in 2022. As part of the closing of the sale of CenterPoint Energy’s and CERC’s Natural Gas businesses in Arkansas and Oklahoma, CERC received as part of the purchase price $398 million for unrecovered natural gas costs associated with the February 2021 Winter Storm Event. In testimonies filed on December 22, 2021 and February 11, 2022, in CERC’s high gas cost prudency review case, the Minnesota Attorney General’s Office, Minnesota Department of Commerce, and Citizens Utility Board have proposed significant disallowances for all natural gas utilities, resulting in potential disallowances for CenterPoint Energy and CERC. Recommended disallowances for CERC include up to $45 million proposed by the Minnesota Department of Commerce, $82 million proposed by the Citizens Utility Board, and $409 million (or in the alternative $57 million) proposed by the Attorney General’s Office. The natural gas costs in Minnesota were incurred in accordance with the plan on file with the MPUC and CenterPoint Energy believes the costs were prudently incurred and are eligible for recovery through an existing mechanism. Additionally, due to the uncertainty of timing and method of recovery in some jurisdictions, CenterPoint Energy and CERC may not earn a return on amounts deferred in the regulatory assets associated with the February 2021 Winter Storm Event.

As of March 31, 2022, CenterPoint Energy and CERC have recorded current regulatory assets of $1,207 million and $1,176 million, respectively, and non-current regulatory assets of $297 million and $297 million, respectively, associated with the February 2021 Winter Storm Event. As of December 31, 2021, CenterPoint Energy and CERC have recorded current regulatory assets of $1,410 million and $1,336 million, respectively, of which $154 million related to Arkansas and Oklahoma has been recast to held for sale at both CenterPoint Energy and CERC, and non-current regulatory assets of $583 million and $583 million, respectively, of which $244 million related to Arkansas and Oklahoma has been recast to held for sale at both CenterPoint Energy and CERC, associated with the February 2021 Winter Storm Event.

As of both March 31, 2022 and December 31, 2021, as authorized by the PUCT, CenterPoint Energy and Houston Electric recorded a regulatory asset of $8 million for bad debt expenses resulting from REPs’ default on their obligation to pay delivery charges to Houston Electric net of collateral. Additionally, as of both March 31, 2022 and December 31, 2021, CenterPoint Energy and Houston Electric recorded a regulatory asset of $15 million to defer operations and maintenance costs associated with the February 2021 Winter Storm Event.

See Note 13(d) for further information regarding litigation related to the February 2021 Winter Storm Event.