CenterPoint Energy Files Q2 2024 10-Q

TL;DR

CNP's Q2 10-Q is in - check financials and operations for the latest.

AI Summary

CenterPoint Energy Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational updates. Key financial figures and strategic initiatives are expected to be discussed within the report.

Why It Matters

This filing provides crucial insights into CenterPoint Energy's financial health and operational performance during the second quarter of 2024, impacting investor decisions and market perception.

Risk Assessment

Risk Level: medium — As a utility company, CenterPoint Energy is subject to regulatory changes, operational risks, and market fluctuations that can impact its financial performance.

Key Players & Entities

• CenterPoint Energy Inc. (company) — Filer of the 10-Q
• CenterPoint Energy Houston Electric LLC (company) — Subsidiary of CenterPoint Energy Inc.
• CenterPoint Energy Resources Corp (company) — Subsidiary of CenterPoint Energy Inc.
• 20240630 (date) — End of the reporting period
• 20240730 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — CenterPoint Energy, Inc. Common Stock, $0.01 par value CNP The New York Stock Exchan
• $1,000 — share, with a liquidation preference of $1,000 per share SIGECO Southern Indiana Gas

Filing Documents

• cnp-20240630.htm (10-Q) — 3701KB
• exhibit43cnp-supplementali.htm (EX-4.3) — 143KB
• exhibit45cerc-supplemental.htm (EX-4.5) — 200KB
• cnp_exhibit3111x6302024.htm (EX-31.11) — 11KB
• cehe_exhibit3112x6302024.htm (EX-31.12) — 11KB
• cerc_exhibit3113x6302024.htm (EX-31.13) — 10KB
• cnp_exhibit3121x6302024.htm (EX-31.21) — 11KB
• cehe_exhibit3122x6302024.htm (EX-31.22) — 11KB
• cerc_exhibit3123x6302024.htm (EX-31.23) — 10KB
• cnp_exhibit3211x6302024.htm (EX-32.11) — 6KB
• cehe_exhibit3212x6302024.htm (EX-32.12) — 6KB
• cerc_exhibit3213x6302024.htm (EX-32.13) — 5KB
• cnp_exhibit3221x6302024.htm (EX-32.21) — 5KB
• cehe_exhibit3222x6302024.htm (EX-32.22) — 6KB
• cerc_exhibit3223x6302024.htm (EX-32.23) — 5KB
• 0001130310-24-000093.txt ( ) — 17842KB
• cnp-20240630.xsd (EX-101.SCH) — 96KB
• cnp-20240630_cal.xml (EX-101.CAL) — 117KB
• cnp-20240630_def.xml (EX-101.DEF) — 686KB
• cnp-20240630_lab.xml (EX-101.LAB) — 987KB
• cnp-20240630_pre.xml (EX-101.PRE) — 921KB
• cnp-20240630_htm.xml (XML) — 3216KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1 CenterPoint Energy, Inc. Financial Statements (Unaudited) 1 CenterPoint Energy Houston Electric, LLC Financial Statements (Unaudited) 7 CenterPoint Energy Resources Corp. Financial Statements (Unaudited) 12 Combined Notes to Interim Condensed Financial Statements (Unaudited) 18 (1) Background and Basis of Presentation 18 (2) New Accounting Pronouncements 19 (3) Held for Sale and Divestitures 19 (4) Revenue Recognition and Allowance for Credit Losses 21 (5) Employee Benefit Plans 24 (6) Regulatory Matters 25 (7) Derivative Instruments 28 (8) Fair Value Measurements 31 (9) Goodwill 33 (10) Equity Securities and Indexed Debt Securities (ZENS) 34 (11) Short-term Borrowings and Long-term Debt 34 (12) Income Taxes 37 (13) Commitments and Contingencies 38 (14) Earnings Per Share 44 (15) Reportable Segments 45 (16) Supplemental Disclosure of Cash Flow and Balance Sheet Information 46 (17) Related Party Transactions 47 (18) Equity 48 (19) Leases 49 (20) Subsequent Events 52

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 53 Recent Events 53 Consolidated Results of Operations 55 Results of Operations by Reportable Segment 57 Certain Factors Affecting Future Earnings 64 Liquidity and Capital Resources 65

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 82

Controls and Procedures

Item 4. Controls and Procedures 83

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 83

Risk Factors

Item 1A. Risk Factors 83

Other Information

Item 5. Other Information 84

Exhibits

Item 6. Exhibits 84

Signatures

Signatures 87 i GLOSSARY ACE Affordable Clean Energy AFUDC Allowance for funds used during construction ALJ Administrative Law Judge AMA Asset Management Agreement Arevon Arevon Energy, Inc., which was formed through the combination of Capital Dynamics, Inc.'s U.S. Clean Energy Infrastructure business unit and Arevon Asset Management ARO Asset retirement obligation ARP Alternative revenue program ASC Accounting Standards Codification ASU Accounting Standards Update AT&T Common AT&T Inc. common stock ATM Forward Purchasers Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Goldman Sachs & Co. LLC, JPMorgan Chase Bank, National Association, Mizuho Markets Americas LLC, MUFG Securities EMEA plc and Royal Bank of Canada ATM Forward Sellers BofA Securities, Inc. Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and RBC Capital Markets, LLC ATM Managers BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc. and RBC Capital Markets, LLC Bcf Billion cubic feet Bond Companies Bond Company IV and Restoration Bond Company, each a wholly-owned, bankruptcy remote entity formed solely for the purpose of purchasing and owning transition or system restoration property through the issuance of Securitization Bonds Bond Company IV CenterPoint Energy Transition Bond Company IV, LLC, a wholly-owned subsidiary of Houston Electric BTA Build Transfer Agreement CAMT Corporate Alternative Minimum Tax CCN Certificate of Convenience and Necessity CCR Coal Combustion Residuals CECA Clean Energy Cost Adjustment CEIP CenterPoint Energy Intrastate Pipelines, LLC, a wholly-owned subsidiary of CERC Corp. CenterPoint Energy CenterPoint Energy, Inc., and its subsidiaries CEOH Vectren Energy Delivery of Ohio,