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CONDENSED STATEMENTS OF CONSOLIDATED INCOME (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Utility revenues $ 1,539 $ 1,299 $ 5,255 $ 4,534
Non-utility revenues 1,203 913 3,816 3,019
Total 2,742 2,212 9,071 7,553
Expenses:        
Utility natural gas, fuel and purchased power 179 134 1,178 959
Non-utility cost of revenues, including natural gas [1] 852 864 3,013 2,927
Operation and maintenance 871 567 2,616 1,714
Depreciation and amortization 334 326 987 982
Taxes other than income taxes 114 95 353 307
Total 2,350 1,986 8,147 6,889
Operating Income (Loss) 392 226 924 664
Other Income (Expense):        
Gain on marketable securities 59 43 206 66
Loss on indexed debt securities (62) (44) (216) (316)
Interest and other finance charges (134) (90) (389) (259)
Interest on Securitization Bonds (9) (16) (31) (46)
Equity in earnings of unconsolidated affiliates, net 77 81 213 208
Other income (expense), net 9 9 40 16
Total (60) (17) (177) (331)
Income (Loss) Before Income Taxes 332 209 747 333
Income tax expense (benefit) 62 51 113 85
Net Income 270 158 634 248
Preferred stock dividend requirement 29 5 88 5
Income Available to Common Shareholders $ 241 $ 153 $ 546 $ 243
Basic Earnings Per Common Share $ 0.48 $ 0.35 $ 1.09 $ 0.56
Diluted Earnings Per Common Share $ 0.47 $ 0.35 $ 1.08 $ 0.56
Weighted Average Common Shares Outstanding, Basic 502,228,000 431,554,000 501,986,000 431,437,000
Weighted Average Common Shares Outstanding, Diluted 505,080,000 434,891,000 504,838,000 434,774,000
Houston Electric [Member]        
Revenues:        
Total $ 859 $ 897 $ 2,310 $ 2,506
Expenses:        
Operation and maintenance 359 369 1,086 1,062
Depreciation and amortization 168 242 519 737
Taxes other than income taxes 63 59 186 180
Total 590 670 1,791 1,979
Operating Income (Loss) 269 227 519 527
Other Income (Expense):        
Interest and other finance charges (41) (32) (123) (101)
Interest on Securitization Bonds (9) (16) (31) (46)
Other income (expense), net 7 0 17 (6)
Total (43) (48) (137) (153)
Income (Loss) Before Income Taxes 226 179 382 374
Income tax expense (benefit) 41 36 70 78
Net Income 185 143 312 296
CERC Corp [Member]        
Revenues:        
Utility revenues 389 402 2,077 2,032
Non-utility revenues 737 910 2,759 3,008
Total 1,126 1,312 4,836 5,040
Expenses:        
Utility natural gas, fuel and purchased power 113 134 928 959
Non-utility cost of revenues, including natural gas [1] 687 864 2,627 2,927
Operation and maintenance 195 211 656 666
Depreciation and amortization 75 77 228 222
Taxes other than income taxes 33 33 120 120
Total 1,103 1,319 4,559 4,894
Operating Income (Loss) 23 (7) 277 146
Other Income (Expense):        
Interest and other finance charges (28) (30) (87) (92)
Other income (expense), net (3) 0 (6) (5)
Total (31) (30) (93) (97)
Income (Loss) Before Income Taxes (8) (37) 184 49
Income tax expense (benefit) (1) (2) 25 14
Income (Loss) From Continuing Operations (7) (35) 159 35
Income from discontinued operations (net of tax of $-0-, $13, $-0- and $44, respectively) 0 44 0 140
Net Income $ (7) $ 9 $ 159 $ 175
[1]
Income statement impact associated with cash flow hedge activity is related to gains and losses reclassified from Accumulated other comprehensive income into income. Amounts are immaterial for each Registrant in the three and nine months ended September 30, 2019 and 2018, respectively.