XML 46 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities:      
Net income $ 368 $ 1,792 $ 432
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,243 1,036 1,126
Amortization of deferred financing costs 48 24 26
Deferred income taxes 48 (770) 213
Unrealized loss (gain) on marketable securities 22 (7) (326)
Loss (gain) on indexed debt securities 232 (49) 413
Write-down of natural gas inventory 2 0 1
Equity in earnings of unconsolidated affiliates, net of distributions (40) (265) (208)
Pension contributions (69) (48) (9)
Changes in other assets and liabilities, excluding acquisitions:      
Accounts receivable and unbilled revenues, net (154) (216) (117)
Inventory 1 (7) 34
Taxes receivable 0 30 142
Accounts payable 220 136 133
Fuel cost recovery 33 (85) (72)
Non-trading derivatives, net 103 (84) 30
Margin deposits, net 5 (55) 101
Interest and taxes accrued 40 5 5
Net regulatory assets and liabilities 28 (107) (60)
Other current assets 0 (3) (25)
Other current liabilities (24) 34 22
Other assets 6 (4) (16)
Other liabilities 12 36 30
Other, net 12 24 48
Net cash provided by operating activities 2,136 1,417 1,923
Cash Flows from Investing Activities:      
Capital expenditures (1,651) (1,426) (1,414)
Acquisitions, net of cash acquired 0 (132) (102)
Decrease in notes receivable - unconsolidated affiliate 0 0 363
Investment in preferred units - unconsolidated affiliate 0 0 (363)
Distributions from unconsolidated affiliates in excess of cumulative earnings 30 297 297
Proceeds from sale of marketable securities 398 0 178
Other, net 16 4 7
Net cash provided by (used in) investing activities (1,207) (1,257) (1,034)
Cash Flows from Financing Activities:      
Increase (decrease) in short-term borrowings, net (39) 4 (5)
Proceeds from (payments of) commercial paper, net (1,543) 349 469
Proceeds from long-term debt, net 2,495 1,096 600
Payments of long-term debt (484) (1,211) (1,218)
Loss on reacquired debt 0 (5) (22)
Debt and equity issuance costs (47) (13) (9)
Payment of dividends on Common Stock (499) (461) (443)
Payment of dividends on preferred stock (11) 0 0
Proceeds from issuance of Common Stock, net 1,844 0 0
Proceeds from issuance of preferred stock, net 1,740 0 0
Distribution to ZENS holders (398) 0 (178)
Other, net (5) (4) (2)
Net cash provided by (used in) financing activities 3,053 (245) (808)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 3,982 (85) 81
Cash, Cash Equivalents and Restricted Cash at Beginning of Year 296 381 300
Cash, Cash Equivalents and Restricted Cash at End of Year 4,278 296 381
Houston Electric [Member]      
Cash Flows from Operating Activities:      
Net income 336 433 276
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 917 724 838
Amortization of deferred financing costs 11 13 14
Deferred income taxes (38) (98) (34)
Changes in other assets and liabilities, excluding acquisitions:      
Accounts receivable and unbilled revenues, net 11 (73) (1)
Accounts receivable/payable–affiliated companies 20 (46) 63
Inventory (16) 15 (1)
Taxes receivable (5) 6 53
Accounts payable (1) 59 (4)
Non-trading derivatives, net 5 0 0
Interest and taxes accrued (2) 7 4
Net regulatory assets and liabilities (97) (148) (110)
Other current assets (2) (6) (6)
Other current liabilities (26) 16 21
Other assets (3) 13 (8)
Other liabilities 17 (4) (4)
Other, net (12) (6) 1
Net cash provided by operating activities 1,115 905 1,102
Cash Flows from Investing Activities:      
Capital expenditures (922) (875) (862)
Increase in notes receivable–affiliated companies 0 96 (96)
Other, net 11 3 7
Net cash provided by (used in) investing activities (911) (776) (951)
Cash Flows from Financing Activities:      
Proceeds from long-term debt, net 398 298 600
Payments of long-term debt (434) (411) (590)
Dividend to parent (209) (180) (135)
Increase (decrease) in notes payable–affiliated companies (59) 60 (312)
Debt issuance costs (4) (3) (6)
Contribution from parent 200 0 374
Net cash provided by (used in) financing activities (108) (236) (69)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 96 (107) 82
Cash, Cash Equivalents and Restricted Cash at Beginning of Year 274 381 299
Cash, Cash Equivalents and Restricted Cash at End of Year 370 274 381
CERC Corp [Member]      
Cash Flows from Operating Activities:      
Net income 208 745 245
Income (loss) from discontinued operations, net of tax 138 161 127
Income (loss) from continuing operations 70 584 118
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 293 279 249
Amortization of deferred financing costs 9 9 9
Deferred income taxes 31 (224) 56
Write-down of natural gas inventory 2 0 1
Changes in other assets and liabilities, excluding acquisitions:      
Accounts receivable and unbilled revenues, net (155) (143) (122)
Accounts receivable/payable–affiliated companies 9 0 4
Inventory 17 (22) 34
Accounts payable 163 64 117
Fuel cost recovery 33 (85) (72)
Non-trading derivatives, net 98 (82) 29
Margin deposits, net 5 (55) 101
Interest and taxes accrued 0 (41) 26
Net regulatory assets and liabilities 50 (27) 0
Other current assets 4 2 (19)
Other current liabilities (3) 15 2
Other assets 5 (8) (21)
Other liabilities 6 6 (2)
Other, net 1 6 2
Net cash provided by operating activities from continuing operations 638 278 512
Net cash provided by operating activities from discontinued operations 176 0 0
Net cash provided by operating activities 814 278 512
Cash Flows from Investing Activities:      
Capital expenditures (633) (513) (517)
Acquisitions, net of cash acquired 0 (132) (102)
Increase in notes receivable–affiliated companies (114) 0 0
Other, net 3 2 1
Net cash used in investing activities from continuing operations (744) (643) (618)
Net cash provided by investing activities from discontinued operations 47 297 660
Net cash provided by (used in) investing activities (697) (346) 42
Cash Flows from Financing Activities:      
Increase (decrease) in short-term borrowings, net (39) 4 (5)
Proceeds from (payments of) commercial paper, net (688) 329 350
Proceeds from long-term debt, net 599 298 0
Payments of long-term debt 0 (550) (325)
Dividend to parent (360) (601) (643)
Increase (decrease) in notes payable–affiliated companies (570) 570 0
Loss on reacquired debt 0 (5) 0
Debt issuance costs (5) (4) 0
Contribution from parent 960 38 72
Other, net (1) 0 (2)
Net cash used in financing activities from continuing operations (104) 79 (553)
Net cash provided by financing activities from discontinued operations 0 0 0
Net cash provided by (used in) financing activities (104) 79 (553)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 13 11 1
Cash, Cash Equivalents and Restricted Cash at Beginning of Year 12 1 0
Cash, Cash Equivalents and Restricted Cash at End of Year $ 25 $ 12 $ 1