XML 206 R39.htm IDEA: XBRL DOCUMENT v3.24.3
Equity
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Equity Equity
Dividends Declared and Paid (CenterPoint Energy)

CenterPoint Energy declared and paid dividends on its Common Stock as follows during the periods indicated below:

Dividends Declared Per Share
Dividends Paid Per Share
Three Months Ended September 30,Nine Months Ended September 30,Three Months Ended September 30,Nine Months Ended September 30,
2024
2023
2024
2023
2024
2023
2024
2023
Common Stock$0.410 $0.390 $0.610 $0.580 $0.200 $0.190 $0.600 $0.570 
Series A Preferred Stock (1)
— 30.625 — 30.625 — 30.625 — 61.250 

(1)On September 1, 2023, CenterPoint Energy redeemed all 800,000 outstanding shares of its 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.

Common Stock (CenterPoint Energy)

(a) Underwritten Offering

On August 9, 2024, CenterPoint Energy issued 9,754,194 shares of Common Stock in an underwritten public offering at a price of $25.36 per share, for net proceeds of $247 million after deducting issuance costs. The proceeds from the offering were used for the repayment of a portion of CenterPoint Energy’s then-outstanding commercial paper.

(b) Equity Distribution Agreement

On January 10, 2024, CenterPoint Energy entered into an Equity Distribution Agreement with certain financial institutions with respect to the offering and sale from time to time of shares of Common Stock, having an aggregate gross sales price of up to $500 million. Sales of Common Stock may be made by any method permitted by applicable law and deemed to be an “at the market offering” as defined in Rule 415 of the Securities Act of 1933, as amended. CenterPoint Energy may also enter into one or more forward sales agreements pursuant to master forward confirmations. The offer and sale of Common Stock under the Equity Distribution Agreement will terminate upon the earliest of (1) the sale of all Common Stock subject to the Equity Distribution Agreement, (2) termination of the Equity Distribution Agreement, or (3) May 17, 2026. During the three months ended September 30, 2024, CenterPoint Energy did not issue any shares of Common Stock through the ATM Managers under the Equity Distribution Agreement. During the nine months ended September 30, 2024, CenterPoint Energy issued 8,790,848 shares of Common Stock through the ATM Managers under the Equity Distribution Agreement, representing aggregate cash proceeds of $247 million, which was net of compensation paid by CenterPoint Energy to the ATM Managers of $2 million. As of September 30, 2024, CenterPoint Energy had not entered into any forward sale agreements under the at-the-market program. Additionally, as of September 30, 2024, CenterPoint Energy had $250 million of remaining capacity available under the program.

Income Allocated to Series A Preferred Shareholders (CenterPoint Energy)
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(in millions)
Series A Preferred Stock (1)
$— $26 $— $50 
Total income allocated to preferred shareholders$— $26 $— $50 

(1)On September 1, 2023, CenterPoint Energy redeemed all 800,000 outstanding shares of its 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.
Accumulated Other Comprehensive Income (Loss)

Changes in accumulated comprehensive income (loss) are as follows:
Three Months Ended September 30,
20242023
CenterPoint EnergyCERCCenterPoint EnergyCERC
(in millions)
Beginning Balance$(30)$15 $(32)$15 
Other comprehensive income before reclassifications:

Net deferred gain from cash flow hedges— — 2 — 
Amounts reclassified from accumulated other comprehensive income (loss):
Prior service cost (1)— — 1 — 
Actuarial losses (1)1 — — — 
Reclassification of deferred loss from cash flow hedges realized in net income
(1)— — — 
Other comprehensive income
— — 3 — 
Ending Balance$(30)$15 $(29)$15 
Nine Months Ended September 30,
20242023
CenterPoint EnergyCERCCenterPoint EnergyCERC
(in millions)
Beginning Balance$(35)$16 $(31)$16 
Other comprehensive income (loss) before reclassifications:
Remeasurement of pension and other postretirement plans(2)— — — 
Net deferred gain from cash flow hedges
4 — 2 — 
Amounts reclassified from accumulated other comprehensive income (loss):
Prior service cost (benefit) (1)
2 — — (1)
Actuarial losses (gain) (1)
2 (1)— — 
Reclassification of deferred loss from cash flow hedges realized in net income
(1)— — — 
Other comprehensive income (loss)
5 (1)2 (1)
Ending Balance$(30)$15 $(29)$15 
(1)Amounts are included in the computation of net periodic cost and are reflected in Other income, net in each of the Registrants’ respective Condensed Statements of Consolidated Income.