Unconsolidated Affiliate (CenterPoint Energy and CERC) (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Distributions Received from Enable (CenterPoint Energy and CERC):

CenterPoint Energy


	Year Ended December 31,
	2021				2020				2019
	Per Unit		Cash Distribution		Per Unit		Cash Distribution		Per Unit		Cash Distribution
	(in millions, except per unit amounts)
Enable Common Units	$	0.6610	$	155	$	0.8263	$	193	$	1.2970	$	303
Enable Series A Preferred Units (1)	2.2965		34		2.5000		36		2.5000		36
Total			$	189			$	229			$	339

(1)As of December 31, 2020, the Enable Series A Preferred Units annual distribution rate was 10%. On February 18, 2021, five years after the issue date, the Enable Series A Preferred Units annual distribution rate changed to a percentage of the Stated Series A Liquidation Preference per Enable Series A Preferred Unit equal to the sum of (a) Three-Month LIBOR, as calculated on each applicable date of determination, and (b) 8.5%.

The transactions with Enable through December 2, 2021 in the following tables exclude transactions with the Energy Services Disposal Group. See Note 4 for further information.


	CenterPoint Energy and CERC
	Year Ended December 31,
	2021		2020		2019
	(in millions)
Natural gas expenses, including transportation and storage costs (1)	$	85	$	86	$	86

(1)Included in Non-utility costs of revenues, including natural gas on CenterPoint Energy’s and CERC’s respective Statements of Consolidated Income.


	CenterPoint Energy and CERC
	December 31,
	2020
	(in millions)
Accounts payable for natural gas purchases from Enable	$	9
Accounts receivable for amounts billed for services provided to Enable	1

Summarized consolidated income (loss) information for Enable is as follows:


	Year Ended December 31,
	2021 (1)		2020		2019
	(in millions)
Operating revenues	$	3,466	$	2,463	$	2,960
Cost of sales, excluding depreciation and amortization	1,959		965		1,279
Depreciation and amortization	382		420		433
Goodwill impairment	—		28		86
Operating income	634		465		569
Net income attributable to Enable Common Units	461		52		360
Reconciliation of Equity in Earnings (Losses), net before income taxes:
CenterPoint Energy’s interest	$	248	$	28	$	193
Basis difference amortization (2)	92		87		47
Loss on dilution, net of proportional basis difference recognition	(1)		(2)		(11)
Impairment of CenterPoint Energy’s equity method investment in Enable	—		(1,541)		—
Gain on Enable Merger	680		—		—
CenterPoint Energy’s equity in earnings (losses), net before income taxes (3)	$	1,019	$	(1,428)	$	229

(1)Reflects January 1, 2021 to December 2, 2021 results only due to the closing of the Enable Merger.

(2)Equity in earnings of unconsolidated affiliate includes CenterPoint Energy’s share of Enable earnings adjusted for the amortization of the basis difference of CenterPoint Energy’s original investment in Enable and its underlying equity in net assets of Enable. The basis difference was being amortized through the year 2048 and ceased upon closing of the Enable Merger.

(3)Reported as discontinued operations on CenterPoint Energy’s Statements of Consolidated Income. For further information, see Note 4.

Summarized consolidated balance sheet information for Enable is as follows:


	December 2,		December 31,
	2021 (1)		2020
	(in millions)
Current assets	$	594	$	381
Non-current assets	11,227		11,348
Current liabilities	1,254		582
Non-current liabilities	3,281		4,052
Non-controlling interest	26		26
Preferred equity	362		362
Accumulated other comprehensive loss	(1)		(6)
Enable partners’ equity	6,899		6,713

Reconciliation of Investment in Enable:
CenterPoint Energy’s ownership interest in Enable partners’ equity	$	3,701	$	3,601
CenterPoint Energy’s basis difference (2)	(2,732)		(2,819)

CenterPoint Energy’s equity method investment in Enable (3)	$	969	$	782

(1)Reflects balances as of the closing of the Enable Merger on December 2, 2021.

(2)Includes the impairment of CenterPoint Energy’s equity method investment in Enable of $1,541 million recorded during the year ended December 31, 2020. The basis difference was being amortized through the year 2048 and ceased upon closing of the Enable Merger.

(3)Reflected in assets held for sale in CenterPoint Energy’s Consolidated Balance Sheet as of December 31, 2020. For further information, see Note 4.