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Earnings Per Share (CenterPoint Energy) | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share (CenterPoint Energy) | Earnings Per Share (CenterPoint Energy) Basic earnings per common share is computed by dividing income available to common shareholders from continuing operations by the weighted average number of common shares outstanding during the period. Participating securities are excluded from weighted average number of common shares outstanding in the computation of basic earnings per common share. Diluted earnings per common share is computed by dividing income available to common shareholders from continuing operations by the weighted average number of common shares outstanding, including all potentially dilutive common shares, if the effect of such common shares is dilutive. Diluted earnings per common share reflects the dilutive effect of potential common shares from share-based awards and convertible preferred shares. The dilutive effect of the restricted stock, Series B Preferred Stock and Series C Preferred Stock is computed using the if-converted method, which assumes conversion of the restricted stock, Series B Preferred Stock and Series C Preferred Stock at the beginning of the period, giving income recognition for the add-back of the preferred share dividends, amortization of beneficial conversion feature, and undistributed earnings allocated to preferred shareholders. The dilutive effect of restricted stock is computed using the treasury stock method, as applicable, which includes the incremental shares that would be hypothetically vested in excess of the number of shares assumed to be hypothetically repurchased with the assumed proceeds. Diluted earnings per common share will also reflect the dilutive effect of potential common shares from the conversion of the Convertible Notes. Convertible debt in which the principal amount must be settled in cash is excluded from the calculation of diluted earnings per common share. There would be no interest expense adjustment to the numerator for the cash-settled portion of the Convertible Notes because that portion will always be settled in cash. The conversion spread value in shares will be included in diluted earnings per common share using the if-converted method if the convertible debt is in the money. The denominator of diluted earnings per common share is determined by dividing the conversion spread value of the share-settled portion of the Convertible Notes as of the reporting date by the average share price over the reporting period. For the year ended December 31, 2023, the convertible debt was not in the money; therefore, no incremental shares were assumed converted or included in the diluted earnings per common share calculation. For further details on the Convertible Notes, see Note 13. The Series C Preferred Stock issued in May 2020 were considered participating securities since these shares participated in dividends on Common Stock on a pari passu, pro rata, as-converted basis. As a result, beginning June 30, 2020, earnings per share on Common Stock was computed using the two-class method required for participating securities during the periods the Series C Preferred Stock was outstanding. As of May 7, 2021, all of the remaining outstanding shares of Series C Preferred Stock were converted into shares of Common Stock and earnings per share on Common Stock and the two-class method was no longer applicable beginning June 30, 2021. The following table reconciles numerators and denominators of CenterPoint Energy’s basic and diluted earnings per common share. Basic earnings per common share is determined by dividing Income available to common shareholders - basic by the Weighted average common shares outstanding - basic for the applicable period. Diluted earnings per common share is determined by the inclusion of potentially dilutive common stock equivalent shares that may occur if securities to issue Common Stock were exercised or converted into Common Stock.
| For the Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions, except per share and share amounts)
Numerator: |  |  |  |  |
Income from continuing operations | $ | 917 |  |  | $ | 1,057 |  |  | $ | 668 |
Less: Preferred stock dividend requirement (Note 12) | 50 |  |  | 49 |  |  | 95 |
Income available to common shareholders from continuing operations - basic and diluted | 867 |  |  | 1,008 |  |  | 573 |
Income available to common shareholders from discontinued operations - basic and diluted | — |  |  | — |  |  | 818 |
Income available to common shareholders - basic and diluted | $ | 867 |  |  | $ | 1,008 |  |  | $ | 1,391 |
Denominator: |  |  |  |  |
Weighted average common shares outstanding - basic | 630,947,000 |  |  | 629,415,000 |  |  | 592,933,000 |
Plus: Incremental shares from assumed conversions: |  |  |  |  |
Restricted stock | 2,232,000 |  |  | 2,931,000 |  |  | 5,181,000 |
Series C Preferred Stock (1) | — |  |  | — |  |  | 11,824,000 |
Weighted average common shares outstanding - diluted | 633,179,000 |  |  | 632,346,000 |  |  | 609,938,000 |
Anti-dilutive Incremental Shares Excluded from Denominator for Diluted Earnings Computation: |  |  |  |  |
Series B Preferred Stock (2) | — |  |  | — |  |  | 23,906,000 |
Earnings per common share: |  |  |  |  |
Basic earnings per common share - continuing operations | $ | 1.37 |  |  | $ | 1.60 |  |  | $ | 0.97 |
Basic earnings per common share - discontinued operations | — |  |  | — |  |  | 1.38 |
Basic Earnings Per Common Share | $ | 1.37 |  |  | $ | 1.60 |  |  | $ | 2.35 |
Diluted earnings per common share - continuing operations | $ | 1.37 |  |  | $ | 1.59 |  |  | $ | 0.94 |
Diluted earnings per common share - discontinued operations | — |  |  | — |  |  | 1.34 |
Diluted Earnings Per Common Share | $ | 1.37 |  |  | $ | 1.59 |  |  | $ | 2.28 |
(1)As of December 31, 2021, all of the outstanding Series C Preferred Stock has been converted into Common Stock. For further information, see Note 12. (2)As of December 31, 2021, all of the outstanding Series B Preferred Stock has been converted into Common Stock. For further information, see Note 12.

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