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Held for Sale, Divestitures and Mergers (CenterPoint Energy and CERC) (Tables)
 12 Months Ended
Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Disclosure of Long Lived Assets Held-for-sale
The assets and liabilities of the Arkansas and Oklahoma Natural Gas businesses and equity method investment in Enable classified as held for sale in CenterPoint Energy’s and CERC’s Consolidated Balance Sheets, as applicable, included the following:
December 31, 2021
CenterPoint EnergyCERC
(in millions)
Receivables, net$46 $46 
Accrued unbilled revenues48 48 
Natural gas inventory46 46 
Materials and supplies9 9 
Property, plant and equipment, net1,314 1,314 
Goodwill
398 144 
Investment in unconsolidated affiliate (1)
— — 
Regulatory assets471 471 
Other6 6 
Total current assets held for sale$2,338 $2,084 
December 31, 2021
CenterPoint EnergyCERC
(in millions)
Short term borrowings (2)
$36 $36 
Accounts payable40 40 
Taxes accrued7 7 
Customer deposits12 12 
Regulatory liabilities365 365 
Other102 102 
Total current liabilities held for sale$562 $562 

(1)Balance of $782 million as of December 31, 2020 is reported as Non-current assets held for sale on CenterPoint Energy’s Consolidated Balance Sheets.
(2)Represents third-party AMAs associated with utility distribution service in Arkansas and Oklahoma. These transactions are accounted for as an inventory financing. For further information, see Notes 14 and 16.

The pre-tax income for the Arkansas and Oklahoma Natural Gas businesses, excluding interest and corporate allocations, included in CenterPoint Energy’s and CERC’s Statements of Consolidated Income is as follows:
Year Ended December 31,
20212020
(in millions)
Income from Continuing Operations Before Income Taxes$78 $73 
Disposal Groups, Including Discontinued Operations
A summary of discontinued operations presented in CenterPoint Energy’s Statements of Consolidated Income is as follows:
Year Ended December 31, 2021
Equity Method Investment in Enable
(in millions)
Equity in earnings of unconsolidated affiliate, net$1,019 
Income from discontinued operations before income taxes1,019 
Income tax expense201 
Net income from discontinued operations$818 
Year Ended December 31, 2020
Equity Method Investment in EnableInfrastructure Services Disposal GroupEnergy Services Disposal GroupTotal
(in millions)
Revenues$— $250 $1,167 $1,417 
Expenses:
Non-utility cost of revenues— 50 1,108 1,158 
Operation and maintenance — 184 34 218 
Taxes other than income taxes— 1 3 4 
Total— 235 1,145 1,380 
Operating income — 15 22 37 
Equity in losses of unconsolidated affiliate, net (1)
(1,428)— — (1,428)
Income (loss) from Discontinued Operations before income taxes(1,428)15 22 (1,391)
Loss on classification to held for sale, net (2)
— (102)(96)(198)
Income tax expense (benefit)(354)24 (3)(333)
Net loss from Discontinued Operations$(1,074)$(111)$(71)$(1,256)
Year Ended December 31, 2019
Equity Method Investment in Enable
Infrastructure Services Disposal Group (3)
Energy Services Disposal GroupTotal
(in millions)
Revenues$— $1,190 $3,767 $4,957 
Expenses:
Non-utility cost of revenues— 309 3,597 3,906 
Operation and maintenance — 714 68 782 
Depreciation and amortization— 50 12 62 
Taxes other than income taxes— 2 2 4 
Goodwill Impairment— — 48 48 
Total— 1,075 3,727 4,802 
Operating income — 115 40 155 
Equity in earnings of unconsolidated affiliate, net (4)
229 — — 229 
Income from Discontinued Operations before income taxes229 115 40 384 
Income tax expense 62 29 17 108 
Net income from Discontinued Operations$167 $86 $23 $276 

(1)CenterPoint Energy recognized a loss of $1,428 million from its investment in Enable for the year ended December 31, 2020. This loss included an impairment charge on CenterPoint Energy’s investment in Enable of $1,541 million and CenterPoint Energy’s interest in Enable’s $225 million impairment on an equity method investment.
(2)Loss from classification to held for sale is inclusive of goodwill impairments, gains and losses recognized upon sale, and for CenterPoint Energy, its costs to sell.
(3)Reflects February 1, 2019 to December 31, 2019 results only due to the Merger.
(4)Includes CenterPoint Energy’s share of Enable’s $86 million goodwill impairment recorded in the fourth quarter of 2019.

A summary of the Energy Services Disposal Group presented as discontinued operations in CERC’s Statements of Consolidated Income, as applicable, is as follows:
Year Ended December 31,
20202019
CERC
(in millions)
Revenues$1,167 $3,767 
Expenses:
Non-utility cost of revenues1,108 3,597 
Operation and maintenance34 68 
Depreciation and amortization— 12 
Taxes other than income taxes3 2 
Goodwill Impairment— 48 
Total1,145 3,727 
Income from Discontinued Operations before income taxes22 40 
Loss on classification to held for sale, net (1)
(90)— 
Income tax expense (benefit)(2)17 
Net income (loss) from Discontinued Operations$(66)$23 

(1)Loss from classification to held for sale is inclusive of goodwill impairment, gains and losses recognized upon sale, and for CenterPoint Energy, its costs to sell.
Revenues and expenses included in continuing operations were as follows:
Year Ended December 31,
2020 (1)
2019
2020 (1)
2019
CenterPoint EnergyCERC
(in millions)
Transportation revenue$34 $101 $34 $101 
Natural gas expense48 125 47 124 
(1)Represents charges for the period January 1, 2020 until the closing of the sale of the Energy Services Disposal Group.
Fees incurred by CenterPoint Energy’s and CERC’s Natural Gas reportable segment for pipeline construction and repair services are as follows:

Year Ended December 31,
2020 (1)
2019 (2)
20202019
CenterPoint EnergyCERC
(in millions)
Pipeline construction and repair services capitalized$34 $162 $— $20 
Pipeline construction and repair service charges in operations and maintenance expense
1 4 1 4 

(1)Represents charges for the period January 1, 2020 until the closing of the sale of the Infrastructure Services Disposal Group.
(2)Represents charges for the period beginning February 1, 2019 through December 31, 2019 due to the Merger.
Disposal Groups, Including Discontinued Operations Cash Flow The following table summarizes CenterPoint Energy’s and CERC’s cash flows from discontinued operations and certain supplemental cash flow disclosures as applicable:
Year Ended December 31, 2021
CenterPoint Energy
Equity Method Investment in Enable
(in millions)
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on Enable Merger$(681)
Equity in earnings of unconsolidated affiliate(339)
Distributions from unconsolidated affiliate155 
Cash flows from investing activities:
Transaction costs related to the Enable Merger(49)
Cash received related to Enable Merger5 
Year Ended December 31, 2020
CenterPoint Energy
Equity Method Investment in EnableInfrastructure Services Disposal GroupEnergy Services Disposal Group
(in millions)
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Write-down of natural gas inventory $— $— $3 
Equity in losses of unconsolidated affiliate1,428 — — 
Distributions from unconsolidated affiliate113 — — 
Cash flows from investing activities:
Capital expenditures— 18 3 
Distributions from unconsolidated affiliate in excess of cumulative earnings 80 — — 

Year Ended December 31, 2019
CenterPoint Energy
Equity Method Investment in Enable
Infrastructure Services Disposal Group (1)
Energy Services Disposal Group
(in millions)
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization$— $50 $12 
Amortization of intangible assets in Non-utility cost of revenues— 19 — 
Write-down of natural gas inventory — — 4 
Equity in losses of unconsolidated affiliate(229)— — 
Distributions from unconsolidated affiliate261 — — 
Cash flows from investing activities:
Capital expenditures— 67 12 
Distributions from unconsolidated affiliate in excess of cumulative earnings 42 — — 
Non-cash transactions:
Accounts payable related to capital expenditures— — 2 

(1)Reflects February 1, 2019 to December 31, 2019 results only due to the Merger.

Year Ended December 31,
20202019
CERC
Energy Services Disposal Group
(in millions)
Cash flows from operating activities:
Depreciation and amortization $— $12 
Write-down of natural gas inventory 3 4 
Cash flows from investing activities:
Capital expenditures3 12 
Non-cash transactions:
Accounts payable related to capital expenditures— 2 
Business Acquisition, Pro Forma Information
The results of operations for Vectren included in CenterPoint Energy’s Consolidated Financial Statements from the Merger Date for the year ended December 31, 2019, reflecting results included in both continuing operations and discontinued operations, are as follows:
(in millions)
Operating revenues $2,729 
Net income 190