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Stock-Based Incentive Compensation Plans and Employee Benefit Plans
 12 Months Ended
Dec. 31, 2024
Disclosure of Stock-Based Incentive Compensation Plans and Employee Benefit Plans [Abstract]  
Stock-Based Incentive Compensation Plans and Employee Benefit Plans Stock-Based Incentive Compensation Plans and Employee Benefit Plans
(a) Stock-Based Incentive Compensation Plans (CenterPoint Energy)

CenterPoint Energy has LTIPs that provide for the issuance of stock-based incentives, including stock options, performance awards, restricted stock unit awards and restricted and unrestricted stock awards to officers, employees and non-employee directors. Approximately 30 million shares of Common Stock are authorized under these plans for awards. CenterPoint Energy issues new shares of its Common Stock to satisfy stock-based payments related to LTIPs. Equity awards are granted to employees without cost to the participants.

Compensation costs for the performance awards and stock unit awards granted under LTIPs are measured using fair value and expected achievement levels on the grant date. For performance awards with operational goals, the achievement levels are revised as goals are evaluated. The fair value of awards granted to employees is based on the closing stock price of CenterPoint Energy’s Common Stock on the grant date. The compensation expense is recorded on a straight-line basis over the vesting period. Forfeitures are estimated on the date of grant based on historical averages and estimates are updated periodically throughout the vesting period. 
 
The performance awards granted in 2024, 2023 and 2022 are distributed based upon the achievement of certain performance conditions or market conditions over a three-year performance cycle. The performance conditions are based on CenterPoint Energy’s cumulative adjusted EPS and certain carbon emissions reduction goals. The market condition is based on CenterPoint Energy’s total shareholder return relative to a specified peer group. Upon vesting, shares under the performance awards, as determined based on achievement of the applicable performance goals, are issued to the participants along with the value of dividend equivalents earned over the performance cycle.

The stock unit awards granted in 2024, 2023 and 2022 are service based and subject to CenterPoint Energy’s achievement of positive operating income for the last full calendar year preceding the applicable vesting date. Stock units awarded in 2024 are service based, and vest under a three-year ratable vesting schedule, with one-third vesting as of each of the first three anniversaries of the grant date. Each vesting is subject to the achievement of a performance goal. Stock unit awards granted to employees in 2023 and 2022 cliff vest at the end of a three-year period. Stock unit awards granted to non-employee directors vest immediately upon grant. Upon vesting, shares under the stock unit awards are issued to the participants along with the value of dividend equivalents earned over the applicable vesting period.

The following table summarizes CenterPoint Energy’s expenses related to LTIPs for the periods presented:
Year Ended December 31,
202420232022
(in millions)
LTIP compensation expense (1)$34 $65 $51 
Income tax benefit recognized8 15 12 
Actual tax benefit realized for tax deductions19 17 6 

(1)Included in Operation and maintenance expense in CenterPoint Energy’s Statements of Consolidated Income, net of any amounts capitalized.
 
The following tables summarize CenterPoint Energy’s LTIP activity for the year ended December 31, 2024:

 Shares
(Thousands)		Weighted-Average
Grant Date
Fair Value		Remaining Average
Contractual
Life (Years)		Aggregate
Intrinsic
Value (2) (Millions)
Performance Awards (1)
Outstanding and nonvested as of December 31, 20235,225 $25.95   
Granted1,727 27.92   
Forfeited or canceled(220)28.09   
Vested and released to participants(1,824)21.87   
Outstanding and nonvested as of December 31, 20244,908 $28.14 1$105 
Stock Unit Awards
Outstanding and nonvested as of December 31, 20231,861 $26.91 
Granted438 28.25 
Forfeited or canceled(43)27.92 
Vested and released to participants(1,139)25.92 
Outstanding and nonvested as of December 31, 20241,117 $28.20 0.5$36 
 
(1)Reflects maximum performance achievement.
(2)Reflects the impact of current expectations of achievement and stock price.

Additional information related to the Performance Awards and Stock Unit Awards was as follows for the periods presented:
 Year Ended December 31,
 202420232022
(in millions, except for per unit amounts)
Performance Awards
Weighted-average grant date fair value per unit of awards granted$27.92 $29.18 $28.12 
Total intrinsic value of awards received by participants51 47 13 
Vested grant date fair value40 37 13 
Stock Unit Awards
Weighted-average grant date fair value per unit of awards granted$28.25 $30.83 $28.44 
Total intrinsic value of awards received by participants33 28 14 
Vested grant date fair value30 23 13 
 
As of December 31, 2024, there was $39 million of total unrecognized compensation cost related to nonvested performance and stock unit awards which is expected to be recognized over a weighted-average period of 1.7 years.

(b) Pension Benefits (CenterPoint Energy)

CenterPoint Energy maintains a non-contributory qualified defined benefit pension plan covering certain eligible employees, which is closed to new participants. CenterPoint Energy also maintains three additional qualified defined benefit pension plans, two of which are closed to new participants and one of which is frozen, that cover certain eligible employees and retirees of Vectren and are primarily non-contributory. In addition to the qualified defined benefit pension plans, CenterPoint Energy maintains unfunded non-qualified benefit restoration plans which allow participants to receive the benefits to which they would have been entitled under CenterPoint Energy’s qualified pension plan except for federally mandated limits on qualified plan benefits or on the level of compensation on which qualified plan benefits may be calculated. CenterPoint Energy also maintains a frozen non-qualified supplemental retirement plan covering certain former executives of Vectren.

In December 2022, the CenterPoint Energy Retirement Plan, a tax-qualified defined benefit pension plan, completed the 2022 Annuity Purchase to fund the annuities of certain retirees of the non-regulated business units of CenterPoint Energy (including previously divested businesses), as part of a de-risking strategy. The 2022 Annuity Purchase reduced the plan’s benefit obligation by $138 million and plan assets by $136 million, which were transferred to the annuity provider. The $138 million transferred benefit obligation represented 9.4% of CenterPoint Energy’s total benefit obligation as of its last remeasurement prior to the transaction. As a result of this transaction, CenterPoint Energy incurred a settlement charge of $47 million. In addition, CenterPoint Energy was relieved of all responsibility for these pension obligations and the annuity
provider assumed the obligation to pay and administer the pension benefits for the 1,119 impacted retirees and beneficiaries, with no changes to the amount, timing or form of the benefit payments.

CenterPoint Energy’s net periodic cost includes the following components relating to pension, including the non-qualified benefit plans, for the periods presented:
 Year Ended December 31,
 202420232022
 (in millions)
Service cost (1)$25 $25 $29 
Interest cost (2)73 76 73 
Expected return on plan assets (2)(75)(76)(87)
Amortization of net loss (2)28 28 31 
Settlement cost (2) (3)— — 126 
Net periodic cost$51 $53 $172 
 
(1)Included in Operation and maintenance expense in CenterPoint Energy’s Statements of Consolidated Income, net of amounts capitalized and regulatory deferrals.
(2)Included in Other income (expense), net in CenterPoint Energy’s Statements of Consolidated Income, net of regulatory deferrals.
(3)A one-time, non-cash settlement cost is 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. In 2023 and 2022, CenterPoint Energy recognized non-cash settlement cost due to lump sum settlement payments. The transfer of assets related to the 2022 Annuity Purchase is considered a lump sum settlement payment.

CenterPoint Energy used the following assumptions to determine net periodic cost relating to pension benefits for the periods presented:
 Year Ended December 31,
 202420232022
Discount rate4.95 %5.15 %2.80 %
Expected return on plan assets6.50 6.50 5.00 
Rate of increase in compensation levels4.97 4.99 4.95 

In determining net periodic benefit cost, CenterPoint Energy uses fair value, as of the beginning of the year, as its basis for determining expected return on plan assets except for two of Vectren’s qualified defined benefit pension plans which use a market related value of assets.
The following table summarizes changes in the benefit obligation, changes in plan assets, the amounts recognized in the Consolidated Balance Sheets as well as the key actuarial assumptions of CenterPoint Energy’s pension plans. The measurement dates for plan assets and benefit obligations were December 31, 2024 and 2023.
 December 31, 2024December 31, 2023
 (in millions, except for actuarial assumptions)
Change in Benefit Obligation 
Benefit obligation, beginning of year$1,548 $1,553 
Service cost25 25 
Interest cost73 76 
Benefits paid
(127)(147)
Actuarial (gain) loss (1)(42)41 
Benefit obligation, end of year1,477 1,548 
Change in Plan Assets  
Fair value of plan assets, beginning of year1,204 1,212 
Employer contributions30 32 
Benefits paid
(127)(147)
Actual investment return 25 107 
Fair value of plan assets, end of year1,132 1,204 
Funded status, end of year$(345)$(344)
Amounts Recognized in Balance Sheets  
Non-current assets$7 $4 
Current liabilities-other(7)(7)
Other liabilities-benefit obligations(345)(341)
Net liability, end of year$(345)$(344)
Actuarial Assumptions
Discount rate (2)5.60 %4.95 %
Expected return on plan assets (3)7.00 6.50 
Rate of increase in compensation levels4.79 4.97 
Interest crediting rate3.00 3.00 

(1)Significant sources of actuarial gain for 2024 include the increase in discount rate from 4.95% to 5.60%, offset by losses due to expected return on plan assets exceeding actual return on plan assets.
(2)The discount rate assumption was determined by matching the projected cash flows of CenterPoint Energy’s plans against a hypothetical yield curve of high-quality corporate bonds represented by a series of annualized individual discount rates from one-half to 99 years.
(3)The expected rate of return assumption was developed using the targeted asset allocation of CenterPoint Energy’s plans and the expected return for each asset class.

The following table displays pension benefits related to CenterPoint Energy’s pension plans that have accumulated benefit obligations in excess of plan assets as of the dates presented:
 December 31, 2024December 31, 2023
 Pension
(Qualified)		Pension
(Non-qualified)		Pension
(Qualified)		Pension
(Non-qualified)
 (in millions)
Accumulated benefit obligation$1,431 $44 $1,496 $48 
Projected benefit obligation1,433 44 1,500 48 
Fair value of plan assets1,132 — 1,204 — 

The accumulated benefit obligation for all defined benefit pension plans on CenterPoint Energy’s Consolidated Balance Sheets was $1,475 million and $1,544 million as of December 31, 2024 and 2023, respectively.
 
(c) Postretirement Benefits

CenterPoint Energy provides certain healthcare and life insurance benefits for eligible retired employees on both a contributory and non-contributory basis. The Registrants’ employees (other than employees of Vectren and its subsidiaries) who were hired before January 1, 2018 and who have met certain age and service requirements at retirement, as defined in the plan, are eligible to participate in these benefits, provided, however, that life insurance benefits are available only for eligible retired employees who retired before January 1, 2022. Employees hired on or after January 1, 2018 are not eligible for these benefits, except that such employees represented by IBEW Local Union 66 are eligible to participate in certain of the benefits, subject to the applicable age and service requirements. With respect to retiree medical and prescription drug benefits, and, effective January 1, 2021, dental and vision benefits, employees represented by the IBEW Local Union 66 who retire on or after January 1, 2017, and their dependents, receive any such benefits exclusively through the NECA/IBEW Family Medical Care Plan pursuant to the terms of the applicable collective bargaining agreement. Houston Electric and CERC are required to fund a portion of their obligations in accordance with rate orders. All other obligations are funded on a pay-as-you-go basis.

CenterPoint Energy, through Vectren, also maintains a postretirement benefit plan that provides health care and life insurance benefits, which are a combination of self-insured and fully insured programs, to eligible Vectren retirees on both a contributory and non-contributory basis.

Postretirement benefits are accrued over the active service period of employees. The net postretirement benefit cost includes the following components for the periods presented:
 Year Ended December 31,
 202420232022
 CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
 (in millions)
Service cost (1)$1 $— $1 $1 $— $1 $2 $— $1 
Interest cost (2)13 5413 5 5 9 4 3 
Expected return on plan assets (2)(6)(4)(1)(5)(4)(1)(5)(4)(1)
Amortization of prior service cost (credit) (2)(2)(5)2(2)(5)2 (3)(4)2 
Amortization of net loss (2)(8)(4)(3)(8)(4)(3)(4)(2)(1)
Net postretirement benefit cost (credit)$(2)$(8)$3 $(1)$(8)$4 $(1)$(6)$4 

(1)Included in Operation and maintenance expense in each of the Registrants’ respective Statements of Consolidated Income, net of amounts capitalized and regulatory deferrals.
(2)Included in Other income (expense), net in each of the Registrants’ respective Statements of Consolidated Income, net of regulatory deferrals.

The following assumptions were used to determine net periodic cost relating to postretirement benefits for the periods presented:
 Year Ended December 31,
 202420232022
CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
Discount rate4.95 %4.95 %4.95 %5.15 %5.15 %5.15 %2.85 %2.85 %2.85 %
Expected return on plan assets5.21 5.36 4.77 5.13 5.26 4.69 3.22 3.32 2.86 
The following table summarizes changes in the benefit obligation, changes in plan assets, the amounts recognized in the Consolidated Balance Sheets and the key actuarial assumptions of the postretirement plans. The measurement dates for plan assets and benefit obligations were December 31, 2024 and 2023.
 December 31, 2024December 31, 2023
 CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
 (in millions, except for actuarial assumptions)
Change in Benefit Obligation  
Benefit obligation, beginning of year$263 $113 $93 $263 $115 $92 
Service cost1 — 1 1 — 1 
Interest cost13 5 4 13 5 5 
Participant contributions5 2 2 6 2 3 
Benefits paid(21)(8)(9)(20)(8)(8)
Actuarial (gain) loss (1)(22)(9)(8)— (1)— 
Other transfers
3 1 2 — — — 
Benefit obligation, end of year242 104 85 263 113 93 
Change in Plan Assets   
Fair value of plan assets, beginning of year112 86 26 109 84 25 
Employer contributions9 1 5 7 — 4 
Participant contributions5 2 2 6 2 3 
Benefits paid(21)(8)(9)(20)(8)(8)
Actual investment return 6 4 2 10 8 2 
Other transfers
(8)(8)— — — — 
Fair value of plan assets, end of year103 77 26 112 86 26 
Funded status, end of year$(139)$(27)$(59)$(151)$(27)$(67)
Amounts Recognized in Balance Sheets   
Current liabilities — other$(8)$— $(4)$(7)$— $(4)
Other liabilities — benefit obligations(131)(27)(55)(144)(27)(63)
Net liability, end of year$(139)$(27)$(59)$(151)$(27)$(67)
Actuarial Assumptions
Discount rate (2)5.60 %5.60 %5.60 %4.95 %4.95 %4.95 %
Expected return on plan assets (3)5.21 5.36 4.77 5.13 5.26 4.69 
Medical cost trend rate assumed for the next year - Pre-656.75 6.75 6.75 7.25 7.25 7.25 
Medical/prescription drug cost trend rate assumed for the next year - Post-6513.74 13.74 13.74 22.76 22.76 22.76 
Prescription drug cost trend rate assumed for the next year - Pre-6510.00 10.00 10.00 9.00 9.00 9.00 
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.50 4.50 4.50 4.50 4.50 4.50 
Year that the cost trend rates reach the ultimate trend rate - Pre-65203420342034203320332033
Year that the cost trend rates reach the ultimate trend rate - Post-65203420342034203320332033

(1)Significant sources of actuarial gain for 2024 include increase in discount rate from 4.95% to 5.60%, offset by losses from updated claims and demographic review.
(2)The discount rate assumption was determined by matching the projected cash flows of the plans against a hypothetical yield curve of high-quality corporate bonds represented by a series of annualized individual discount rates from one-half to 99 years.
(3)The expected rate of return assumption was developed using the targeted asset allocation of the plans and the expected return for each asset class.
(d) Accumulated Other Comprehensive Income (Loss) (CenterPoint Energy and CERC)

CenterPoint Energy recognizes the funded status of its pension and other postretirement plans on its Consolidated Balance Sheets. To the extent this obligation exceeds amounts previously recognized in the Statements of Consolidated Income, CenterPoint Energy records a regulatory asset for that portion related to its rate-regulated utilities. To the extent that excess liability does not relate to a rate-regulated utility, the offset is recorded as a reduction to equity in accumulated other comprehensive income.

Amounts recognized in accumulated other comprehensive loss (income) consist of the following as of the dates presented:
 December 31, 2024December 31, 2023
 Pension
Benefits		Postretirement
Benefits		Pension
Benefits		Postretirement
Benefits
CenterPoint EnergyCenterPoint EnergyCERCCenterPoint EnergyCenterPoint EnergyCERC
 (in millions)
Unrecognized actuarial loss (gain)$52 $(34)$(26)$69 $(34)$(27)
Unrecognized prior service cost— 9 8 — 12 10 
Net amount recognized in accumulated other comprehensive loss (income)$52 $(25)$(18)$69 $(22)$(17)

The changes in plan assets and benefit obligations recognized in other comprehensive income for the year ended December 31, 2024 are as follows:
 Pension
Benefits		Postretirement
Benefits
CenterPoint EnergyCenterPoint EnergyCERC
(in millions)
Net actuarial loss (gain)
$(13)$(4)$— 
Amortization of net actuarial loss (gain)
(4)2 (2)
Amortization of prior service cost— (1)1 
Settlement— — — 
Total recognized in comprehensive income$(17)$(3)$(1)
Total recognized in net periodic costs and other comprehensive income
$34 $1 $2 

(e) Pension Plan Assets (CenterPoint Energy)

In managing the investments associated with the benefit plans, CenterPoint Energy’s objective is to achieve and maintain a fully funded plan. This objective is expected to be achieved through an investment strategy that manages liquidity requirements while maintaining a long-term horizon in making investment decisions and efficient and effective management of plan assets.

As part of the investment strategy discussed above, CenterPoint Energy maintained the following weighted-average allocation targets for its pension plans as of December 31, 2024:
MinimumMaximum
U.S. equity17 %27 %
International equity9 %19 %
Real estate2 %8 %
Fixed income54 %64 %
Cash0 %2 %
The following tables set forth by level, within the fair value hierarchy (see Note 9), CenterPoint Energy’s pension plan assets at fair value as of the dates presented:
December 31, 2024December 31, 2023
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
(in millions)
Cash$36 $— $— $36 $21 $— $— $21 
Equity securities:     
U.S. companies28 — — 28 30 — — 30 
Cash received as collateral from securities lending88 — — 88 94 — — 94 
Obligation to return cash received as collateral from securities lending(88)— — (88)(94)— — (94)
U.S. treasuries and government agencies156 — — 156 178 — — 178 
Corporate bonds:   
Investment grade or above— 428 — 428 — 469 — 469 
Mortgage-backed securities
— 12 — 12 — 15 — 15 
Asset-backed securities
— 1 — 1 — 1 — 1 
Municipal bonds— 19 — 19 — 25 — 25 
International government bonds— 13 — 13 — 9 — 9 
Financial instruments— (3)— (3)— (4)— (4)
Total investments at fair value$220 $470 $— 690 $229 $515 $— 744 
Investments measured by net asset value per share or its equivalent (1) (2)442 460 
Fair value of plan assets
$1,132 $1,204 

(1)Represents investments in pooled investment funds and common collective trust funds.
(2)The amounts invested in pooled investment funds were 100% allocated to real estate. The amounts invested common collective trust funds were allocated as follows as of the dates presented:
December 31, 2024December 31, 2023
International equities38 %40 %
U.S. equities61 %59 %
Fixed income1 %1 %

Level 2 investments, which do not have a quoted price in active market, are valued using the market data provided by independent pricing services or major market makers, to arrive at a price a dealer would pay for the security.

The pension plans utilized both exchange traded and over-the-counter financial instruments such as futures, interest rate options and swaps that were marked to market daily with the gains or losses settled in the cash accounts. The pension plans did not include any holdings of CenterPoint Energy Common Stock as of December 31, 2024 or 2023.

(f) Postretirement Plan Assets

In managing the investments associated with the postretirement plans, the Registrants’ primary objective is to preserve and improve the funded status of the plan, while minimizing volatility. This objective is expected to be achieved through an investment strategy that manages liquidity requirements while maintaining a long-term horizon in making investment decisions and efficient and effective management of plan assets.
As part of the investment strategy discussed above, the Registrants maintained the following weighted-average allocation targets for the postretirement plans as of December 31, 2024:
CenterPoint EnergyHouston ElectricCERC
MinimumMaximumMinimumMaximumMinimumMaximum
U.S. equities14 %24 %13 %23 %15 %25 %
International equities3 %13 %3 %13 %2 %12 %
Fixed income69 %79 %69 %79 %68 %78 %
Cash0 %2 %0 %2 %0 %2 %

The following table sets forth by level, within the fair value hierarchy (see Note 9), the Registrants’ postretirement plan assets, all of which were mutual funds, at fair value as of the dates presented:
December 31, 2024December 31, 2023
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
(in millions)
CenterPoint Energy$103 $— $— $103 $113 $— $— $113 
Houston Electric77 — — 77 86 — — 86 
CERC26 — — 26 26 — — 26 

The amounts invested in mutual funds were allocated as follows as of the dates presented:
December 31, 2024December 31, 2023
CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
U.S. equities19 %18 %21 %20 %19 %22 %
International equities7 %8 %7 %8 %9 %6 %
Fixed income74 %74 %72 %72 %72 %71 %

(g) Benefit Plan Contributions

The Registrants made the following contributions in 2024 and are required to make the following minimum contributions in 2025 to the indicated benefit plans below:
Contributions in 2024Expected Minimum Contributions in 2025
CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
(in millions)
Qualified pension plans$23 $— $— $105 $— $— 
Non-qualified pension plans7 — — 7 — — 
Postretirement benefit plans9 1 5 8 1 5 

Benefit payments are expected to be paid by the pension and postretirement benefit plans as follows:
 Pension BenefitsPostretirement Benefits
CenterPoint
Energy		CenterPoint
Energy		Houston ElectricCERC
(in millions)
2025$144 $16 $7 $6 
2026144 18 8 6 
2027141 19 8 7 
2028138 20 9 7 
2029134 21 9 7 
2030-2034609 102 46 35 
(h) Savings Plan

CenterPoint Energy maintains the CenterPoint Energy Savings Plan, a tax-qualified employee savings plan that includes a cash or deferred arrangement under Section 401(k) of the Code and an employee stock ownership plan under Section 4975(e)(7) of the Code. Under the plan, participating employees may make pre-tax or Roth contributions and, if eligible, after-tax contributions up to certain federally mandated limits. Participating Registrants provide matching contributions and, as of January 1, 2020, for certain eligible employees, non-elective contributions up to certain limits.

The CenterPoint Energy Savings Plan has significant holdings of Common Stock. As of December 31, 2024, 7,136,941 shares of Common Stock were held by the savings plan, which represented approximately 6% of its investments. Given the concentration of the investments in Common Stock, the savings plan and its participants have market risk related to this investment. The savings plan limits the percentage of future contributions that can be invested in Common Stock to 25% and prohibits transfers of account balances where the transfer would result in more than 25% of a participant’s total account balance invested in Common Stock.

CenterPoint Energy allocates the savings plan benefit expense to Houston Electric and CERC related to their respective employees. The following table summarizes the Registrants’ savings plan benefit expense for the periods presented:
 Year Ended December 31,
 202420232022
 CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
 (in millions)
Savings plan benefit expenses (1)
$72 $27 $23 $67 $23 $20 $72 $23 $22 

(1)Amounts presented in the table above are included in Operation and maintenance expense in the Registrants’ respective Statements of Consolidated Income and shown prior to any amounts capitalized.

(i) Other Benefits Plans

CenterPoint Energy maintains non-qualified deferred compensation plans that provide benefits payable to eligible directors, officers and select employees or their designated beneficiaries at specified future dates or upon termination, retirement or death. Benefit payments are made from the general assets of the participating Registrants or, in the case of certain plans, from a rabbi trust that is a grantor trust and remains subject to the claims of general creditors under applicable state and federal law.

Expenses related to other benefit plans were recorded as follows for the periods presented:
 Year Ended December 31,
 202420232022
 CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
 (in millions)
Deferred compensation plans$3 $— $— $(1)$— $— $1 $— $— 

Amounts related to other benefit plans were included in Benefit Obligations in the Registrants’ accompanying Consolidated Balance Sheets as follows:
 December 31, 2024December 31, 2023
 CenterPoint EnergyHouston ElectricCERCCenterPoint EnergyHouston ElectricCERC
 (in millions)
Deferred compensation plans$22 $3 $1 $26 $3 $1 
Split-dollar life insurance arrangements 46 1 — 46 1 — 

(j) Change in Control Agreements and Other Employee Matters

CenterPoint Energy has a change in control plan, which was amended and restated on May 1, 2017. The plan generally provides, to the extent applicable, in the case of the occurrence of both a change in control of CenterPoint Energy and a covered
termination of employment, for severance benefits of up to three times annual base salary plus bonus and other benefits. Certain CenterPoint Energy officers are participants under the plan.

As of December 31, 2024, the Registrants’ employees were covered by collective bargaining agreements as follows:
Percentage of Employees Covered
 Agreement ExpirationCenterPoint EnergyHouston ElectricCERC
IBEW Local 66May 202617 %53 %— %
OPEIU Local 12December 20252 %— %2 %
Gas Workers Union Local 340April 20255 %— %12 %
IBEW Locals 1393 and USW Locals 12213 & 7441December 20263 %— %8 %
IBEW Locals 949December 20253 %— %7 %
USW Locals 13-227 June 20275 %— %13 %
USW Locals 13-1June 2027— %— %1 %
IBEW Local 702June 20253 %— %— %
Teamsters Local 135/215
September 2027
— %— %— %
UWUA Local 175
October 2027
1 %— %4 %
Total39 %53 %47 %

The collective bargaining agreements with Gas Workers Union Local 340, IBEW Local 949 and OPEIU Local 12 related to CERC employees in Minnesota, as well as with IBEW Local 702 related to SIGECO employees, are scheduled to expire in April 2025, December 2025, December 2025 and June 2025, respectively, and negotiations of these agreements are expected to be completed before the respective expirations.