Unconsolidated Affiliates (Tables)

9 Months Ended

Sep. 30, 2016

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments [Table Text Block]

Summarized unaudited consolidated income information for Enable is as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2016		2015			2016		2015
	(in millions)
Operating revenues	$	620	$	646		$	1,658	$	1,852
Cost of sales, excluding depreciation and amortization	268		287			717		856
Impairment of goodwill and other long-lived assets	8		1,105			8		1,105
Operating income (loss)	139		(975		)	299		(778		)
Net income (loss) attributable to Enable	110		(985		)	231		(817		)
Reconciliation of Equity in Earnings (Losses), net:
CERC’s interest	$	61	$	(546	)	$	128	$	(453	)
Basis difference amortization (1)	12		2			36		4
Impairment of CERC’s equity method investment in Enable	—		(250		)	—		(250		)
CERC’s equity in earnings (losses), net (2)	$	73	$	(794	)	$	164	$	(699	)

(1) Equity in earnings (losses) of unconsolidated affiliates includes CERC’s share of Enable’s earnings adjusted for the amortization of the basis difference of CERC’s original investment in Enable and its underlying equity in Enable’s net assets. The basis difference is amortized over approximately 33 years, the average life of the assets to which the basis difference is attributed.

(2) These amounts include CERC’s share of Enable’s impairment of goodwill and long-lived assets and the impairment of CERC’s equity method investment in Enable totaling $862 million during the three and nine months ended September 30, 2015. This impairment is partially offset by $68 million and $163 million of earnings for the three and nine months ended September 30, 2015, respectively.

Summarized unaudited consolidated balance sheet information for Enable is as follows:

	September 30, 2016			December 31, 2015
	(in millions)
Current assets	$	408		$	381
Non-current assets	10,833			10,845
Current liabilities	338			615
Non-current liabilities	3,174			3,080
Non-controlling interest	11			12
Preferred equity	362			—
Enable partners’ equity	7,356			7,519
Reconciliation of Equity Method Investment in Enable:
CERC’s ownership interest in Enable partners’ capital	$	4,073		$	4,163
CERC’s basis difference	(1,538		)	(1,569		)
CERC’s equity method investment in Enable	$	2,535		$	2,594

Distributions Received from Unconsolidated Affiliate:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	(in millions)
Enable	$	74	$	74	$	223	$	219