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Goodwill and Other Intangibles (CenterPoint Energy and CERC) | 3 Months Ended
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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 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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