Goodwill and Other Intangibles (CenterPoint Energy and CERC)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles (CenterPoint Energy and CERC)

Goodwill and Other Intangibles (CenterPoint Energy and CERC)

Goodwill (CenterPoint Energy and CERC)

CenterPoint Energy’s goodwill by reportable segment as of both March 31, 2023 and December 31, 2022 is as follows:

	(in millions)
Electric (1)	$	936
Natural Gas	2,920
Corporate and Other	438
Total	$	4,294

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

CERC’s goodwill as of both March 31, 2023 and December 31, 2022 is as follows:

	(in millions)
Goodwill	$	1,583

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, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
	(in millions)
Customer relationships	$	33	$	(17)	$	16	$	33	$	(16)	$	17
Trade names	16		(6)		10		16		(6)		10
Operation and maintenance agreements (1)	12		(2)		10		12		(2)		10
Other	2		(1)		1		2		(1)		1
Total	$	63	$	(26)	$	37	$	63	$	(25)	$	38

(1)Amortization expense related to the operation and maintenance agreements 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,
		2023		2022
	(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 2023	$	5
2024	5
2025	5
2026	5
2027	4
2028	4