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v3.23.3

Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Schedule of Lease Cost | The components of lease cost, included in Operation and maintenance expense on the Registrants’ respective Condensed Statements of Consolidated Income, are as follows:
| Three Months Ended September 30, 2023 |  | Three Months Ended September 30, 2022
| CenterPoint Energy |  | Houston Electric |  | CERC |  | CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Operating lease cost | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Short-term lease cost | 15 |  |  | 14 |  |  | — |  |  | 39 |  |  | 39 |  |  | 1 |
Total lease cost (1) | $ | 16 |  |  | $ | 15 |  |  | $ | — |  |  | $ | 41 |  |  | $ | 39 |  |  | $ | 1 |
| Nine Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2022
| CenterPoint Energy |  | Houston Electric |  | CERC |  | CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Operating lease cost | $ | 4 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 1 |
Short-term lease cost | 28 |  |  | 27 |  |  | — |  |  | 123 |  |  | 122 |  |  | 1 |
Total lease cost (1) | $ | 32 |  |  | $ | 29 |  |  | $ | 1 |  |  | $ | 127 |  |  | $ | 122 |  |  | $ | 2 |
(1) CenterPoint Energy and Houston Electric defer finance lease costs for TEEEF to Regulatory assets for recovery rather than recognizing Depreciation and Amortization in the Condensed Statements of Consolidated Income.
Schedule of Operating Lease Income | Lease income was as follows:
| Three Months Ended September 30, 2023 |  | Three Months Ended September 30, 2022
| CenterPoint Energy |  | Houston Electric |  | CERC |  | CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Operating lease income | $ | 2 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Variable lease income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total lease income | $ | 2 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
| Nine Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2022
| CenterPoint Energy |  | Houston Electric |  | CERC |  | CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Operating lease income | $ | 5 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 4 |  |  | $ | 1 |  |  | $ | 2 |
Variable lease income | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Total lease income | $ | 6 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 2 |
Schedule of Supplemental Balance Sheet Information Related To Leases | Supplemental balance sheet information related to leases was as follows:
| September 30, 2023 |  | December 31, 2022 |  |
| CenterPoint Energy |  | Houston Electric |  | CERC |  | CenterPoint Energy |  | Houston Electric |  | CERC |  |  |  |  |  |
| (in millions, except lease term and discount rate)
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating ROU assets (1) | $ | 15 |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | 19 |  |  | $ | 6 |  |  | $ | 5 |  |  |  |  |  |  |
Finance ROU assets (2) | 550 |  |  | 550 |  |  | — |  |  | 621 |  |  | 621 |  |  | — |  |  |  |  |  |  |
Total leased assets | $ | 565 |  |  | $ | 556 |  |  | $ | 4 |  |  | $ | 640 |  |  | $ | 627 |  |  | $ | 5 |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current operating lease liability (3) | $ | 4 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 2 |  |  |  |  |  |  |
Non-current operating lease liability (4) | 11 |  |  | 5 |  |  | 3 |  |  | 14 |  |  | 5 |  |  | 4 |  |  |  |  |  |  |
Total leased liabilities (5) | $ | 15 |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | 19 |  |  | $ | 6 |  |  | $ | 6 |  |  |  |  |  |  |
Weighted-average remaining lease term (in years) - operating leases | 5.7 |  | 4.1 |  | 3.3 |  | 4.3 |  | 4.8 |  | 3.9 |  |  |  |  |  |
Weighted-average discount rate - operating leases | 3.94 | % |  | 4.09 | % |  | 3.60 | % |  | 3.80 | % |  | 4.01 | % |  | 3.58 | % |  |  |  |  |  |
Weighted-average remaining lease term (in years) - finance leases | 5.8 |  | 5.8 |  | — |  |  | 6.5 |  | 6.5 |  | — |  |  |  |  |  |  |
Weighted-average discount rate - finance leases | 3.60 | % |  | 3.60 | % |  | — |  |  | 3.60 | % |  | 3.60 | % |  | — |  |  |  |  |  |  |
(1)Reported within Other assets in the Registrants’ respective Condensed Consolidated Balance Sheets. (2)Reported within Property, Plant and Equipment in the Registrants’ respective Condensed Consolidated Balance Sheets. Finance lease assets are recorded net of accumulated amortization. (3)Reported within Current other liabilities in the Registrants’ respective Condensed Consolidated Balance Sheets. (4)Reported within Other liabilities in the Registrants’ respective Condensed Consolidated Balance Sheets. (5)Finance lease liabilities were not significant as of June 30, 2023 or December 31, 2022 and are reported within Other long-term debt in the Registrants’ respective Condensed Consolidated Balance Sheets when applicable.
Schedule of Operating Lease Liability Maturity | As of September 30, 2023, finance lease liabilities were not significant to the Registrants. As of September 30, 2023, maturities of operating lease liabilities were as follows:
| CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Remainder of 2023 | $ | 2 |  |  | $ | — |  |  | $ | 1 |
2024 | 3 |  |  | 2 |  |  | 2 |
2025 | 3 |  |  | 2 |  |  | 1 |
2026 | 3 |  |  | 2 |  |  | 1 |
2027 | 2 |  |  | 1 |  |  | — |
2028 | 2 |  |  | — |  |  | — |
2029 and beyond | 1 |  |  | — |  |  | — |
Total lease payments | 16 |  |  | 7 |  |  | 5 |
Less: Interest | 1 |  |  | 1 |  |  | 1 |
Present value of lease liabilities | $ | 15 |  |  | $ | 6 |  |  | $ | 4 |
Schedule of Operating Lease Payments to be Received | As of September 30, 2023, maturities of undiscounted operating lease payments to be received are as follows:
| CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Remainder of 2023 | $ | 2 |  |  | $ | — |  |  | $ | 1 |
2024 | 6 |  |  | 1 |  |  | 5 |
2025 | 8 |  |  | 1 |  |  | 5 |
2026 | 8 |  |  | — |  |  | 5 |
2027 | 7 |  |  | — |  |  | 5 |
2028 | 7 |  |  | — |  |  | 5 |
2029 and beyond | 173 |  |  | — |  |  | 170 |
Total lease payments to be received | $ | 211 |  |  | $ | 2 |  |  | $ | 196 |
Schedule of Other Information Related To Leases | Other information related to leases is as follows:
| Three Months Ended September 30, 2023 |  | Three Months Ended September 30, 2022
| CenterPoint Energy |  | Houston Electric |  | CERC |  | CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Operating cash flows from operating leases included in the measurement of lease liabilities | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Financing cash flows from finance leases included in the measurement of lease liabilities | — |  |  | — |  |  | — |  |  | 47 |  |  | 47 |  |  | — |
| Nine Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2022
| CenterPoint Energy |  | Houston Electric |  | CERC |  | CenterPoint Energy |  | Houston Electric |  | CERC
| (in millions)
Operating cash flows from operating leases included in the measurement of lease liabilities | $ | 4 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 1 |
Financing cash flows from finance leases included in the measurement of lease liabilities | — |  |  | — |  |  | — |  |  | 218 |  |  | 218 |  |  | — |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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