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Equity (CenterPoint Energy) | 12 Months Ended
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Dec. 31, 2023
Stockholders' Equity Note [Abstract] |
Equity (CenterPoint Energy) | Equity (CenterPoint Energy) Dividends Declared and Paid (CenterPoint Energy) CenterPoint Energy declared and paid dividends on its Common Stock during 2023, 2022 and 2021 as presented in the table below:
| Dividends Declared Per Share |  | Dividends Paid Per Share
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Common Stock | $ | 0.7800 |  |  | $ | 0.7200 |  |  | $ | 0.6600 |  |  | $ | 0.7700 |  |  | $ | 0.7000 |  |  | $ | 0.6500 |
Series A Preferred Stock (1) | 30.6250 |  |  | 61.2500 |  |  | 61.2500 |  |  | 61.2500 |  |  | 61.2500 |  |  | 61.2500 |
Series B Preferred Stock (2) | — |  |  | — |  |  | 35.0000 |  |  | — |  |  | — |  |  | 52.5000 |
Series C Preferred Stock (3) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.1600 |
(1)All of the outstanding shares of Series A Preferred Stock were redeemed during 2023 as further described below. (2)All of the outstanding shares of Series B Preferred Stock were converted to Common Stock during 2021. (3)The Series C Preferred Stock was entitled to participate in any dividend or distribution (excluding those payable in Common Stock) with the Common Stock on a pari passu, pro rata, as-converted basis. The per share amount reflects the dividend per share of Common Stock as if the Series C Preferred Stock were converted into Common Stock. All of the outstanding Series C Preferred Stock was converted to Common Stock during 2021. Preferred Stock (CenterPoint Energy)
| Liquidation Preference Per Share |  | Shares Outstanding as of December 31, |  | Outstanding Value as of December 31,
|  | 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
| (in millions, except shares and per share amount)
Series A Preferred Stock (1) | $ | 1,000 |  |  | — |  |  | 800,000 |  |  | 800,000 |  |  | $ | — |  |  | $ | 790 |  |  | $ | 790 |
|  |  | — |  |  | 800,000 |  |  | 800,000 |  |  | $ | — |  |  | $ | 790 |  |  | $ | 790 |
(1)All of the outstanding shares of Series A Preferred Stock were redeemed during 2023 as further described below. Dividend Requirement on Preferred Stock
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Series A Preferred Stock | $ | 50 |  |  | $ | 49 |  |  | $ | 49 |
Series B Preferred Stock | — |  |  | — |  |  | 46 |
Total income allocated to preferred shareholders | $ | 50 |  |  | $ | 49 |  |  | $ | 95 |
Series A Preferred Stock Prior to the redemption of all outstanding shares of Series A Preferred Stock in September 2023, the aggregate liquidation value of the Series A Preferred Stock was $800 million with a per share liquidation value of $1,000. The Series A Preferred Stock was redeemable at CenterPoint Energy’s election on or after September 1, 2023, for cash at a redemption price of $1,000 per share, plus any accumulated and unpaid dividends thereon to, but excluding, the redemption date. Dividends. The Series A Preferred Stock accrued cumulative dividends, calculated as a percentage of the stated amount per share, at a fixed annual rate of 6.125% per annum to be paid in cash if, when and as declared. If declared, dividends were payable semi-annually in arrears on each March 1 and September 1, beginning on March 1, 2019. Cumulative dividends earned during the applicable periods are presented on CenterPoint Energy’s Statements of Consolidated Income as Preferred stock dividend requirement. Ranking. The Series A Preferred Stock, with respect to anticipated dividends and distributions upon CenterPoint Energy’s liquidation or dissolution, or winding-up of CenterPoint Energy’s affairs, ranked: •senior to Common Stock and to each other class or series of capital stock established after the initial issue date of the Series A Preferred Stock that is expressly made subordinated to the Series A Preferred Stock; •on a parity with any class or series of capital stock established after the initial issue date of the Series A Preferred Stock that is not expressly made senior or subordinated to the Series A Preferred Stock; •junior to any class or series of capital stock established after the initial issue date of the Series A Preferred Stock that is expressly made senior to the Series A Preferred Stock; •junior to all existing and future indebtedness (including indebtedness outstanding under CenterPoint Energy’s credit facilities, senior notes and commercial paper) and other liabilities with respect to assets available to satisfy claims against CenterPoint Energy; and •structurally subordinated to any existing and future indebtedness and other liabilities of CenterPoint Energy’s subsidiaries and capital stock of CenterPoint Energy’s subsidiaries held by third parties. Voting Rights. Holders of the Series A Preferred Stock generally did not have voting rights. Redemption of Series A Preferred Stock. On September 1, 2023, CenterPoint Energy redeemed all 800,000 outstanding shares of Series A Preferred Stock, in whole for cash at a redemption price of $1,000 per share, plus any accumulated and unpaid dividends thereon to, but excluding, the redemption date. Temporary Equity (CenterPoint Energy) On the approval and recommendation of the Compensation Committee and approval of the Board (acting solely through its independent directors), CenterPoint Energy entered into a retention incentive agreement with David J. Lesar, then President and Chief Executive Officer of CenterPoint Energy, dated July 20, 2021. Pursuant to the retention incentive agreement, Mr. Lesar received equity-based awards under CenterPoint Energy’s LTIP covering a total of 1 million shares of Common Stock (Total Stock Award), which were granted in multiple annual awards. Mr. Lesar received 400 thousand restricted stock units in July 2021 that vested in December 2022 and 400 thousand restricted stock units and 200 thousand restricted stock units in February 2022 and February 2023, respectively, that vested in December 2023. For accounting purposes, the 1 million shares under the Total Stock Award, consisting of the equity-based awards described above, were considered granted in July 2021. In the event that death, disability, termination without cause or resignation for good reason, as defined in the retention incentive agreement, had occurred prior to the full Total Stock Award being awarded, CenterPoint Energy would have paid a lump sum cash payment equal to the value of the unawarded equity-based awards, based on the closing trading price of Common Stock on the date of the event’s occurrence. Because the equity-based awards would have been redeemable for cash prior to being awarded upon events that were not probable at the grant date, the equity associated with any unawarded equity-based awards were classified as Temporary Equity as of December 31, 2022 on CenterPoint Energy’s Consolidated Balance Sheets. As of December 31, 2023, all restricted stock units have been awarded to Mr. Lesar and no amounts are reflected in Temporary Equity on CenterPoint Energy’s Consolidated Balance Sheets. Accumulated Other Comprehensive Income (Loss) (CenterPoint Energy and CERC) Changes in accumulated comprehensive income (loss) are as follows:
| Year Ended December 31,
| 2023 |  | 2022
| CenterPoint Energy |  |  |  | CERC |  | CenterPoint Energy |  |  |  | CERC
| (in millions)
Beginning Balance | $ | (31) |  |  |  |  | $ | 16 |  |  | $ | (64) |  |  |  |  | $ | 10 |
Other comprehensive income (loss) before reclassifications: |  |  |  |  |  |  |  |  |  |  |
Remeasurement of pension and other postretirement plans | (8) |  |  |  |  | — |  |  | (40) |  |  |  |  | 10 |
Amounts reclassified from accumulated other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |
Net deferred gain from cash flow hedges | 1 |  |  |  |  | — |  |  | — |  |  |  |  | — |
Prior service cost (1) | 1 |  |  |  |  | (2) |  |  | (1) |  |  |  |  | (1) |
Actuarial losses (1) | 1 |  |  |  |  | 2 |  |  | 8 |  |  |  |  | 1 |
Settlement (2) | — |  |  |  |  | — |  |  | 67 |  |  |  |  | — |
Reclassification of deferred loss from cash flow hedges realized in net income | — |  |  |  |  | — |  |  | 1 |  |  |  |  | — |
Tax benefit (expense) | 1 |  |  |  |  | — |  |  | (2) |  |  |  |  | (4) |
Net current period other comprehensive income (loss) | (4) |  |  |  |  | — |  |  | 33 |  |  |  |  | 6 |
Ending Balance | $ | (35) |  |  |  |  | $ | 16 |  |  | $ | (31) |  |  |  |  | $ | 16 |
(1)Amounts are included in the computation of net periodic cost and are reflected in Other, net in each of the Registrants’ respective Statements of Consolidated Income. (2)Amounts presented represent a one-time, non-cash settlement cost (benefit), prior to regulatory deferrals, which are required when the total lump sum distributions or other settlements of plan benefit obligations during a plan year exceed the service cost and interest cost components of the net periodic cost for that year. Amounts presented in the table above are included in Other income (expense), net in CenterPoint Energy’s Statements of Consolidated Income, net of regulatory deferrals.

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