Item 6. Selected Financial Data (CenterPoint Energy)
The following table presents selected financial data with respect to CenterPoint Energy’s consolidated financial condition and consolidated results of operations and should be read in conjunction with CenterPoint Energy’s consolidated financial statements and the related notes in Item 8 of this report.
Year Ended December 31,
2018
2017
2016
2015
2014
(in millions, except per share amounts)
Revenues
$
10,589
$
9,614
$
7,528
$
7,386
$
9,226
Equity in earnings (losses) of unconsolidated affiliates, net
307
265
208
(1,663
)
(2)
308
Income (loss) available to common shareholders
333
1,792
(1)
432
(692
)
611
Basic earnings (loss) per common share
0.74
4.16
1.00
(1.61
)
1.42
Diluted earnings (loss) per common share
0.74
4.13
1.00
(1.61
)
1.42
Cash dividends paid per common share
$
1.11
$
1.07
$
1.03
$
0.99
$
0.95
Dividend payout ratio
150
%
26
%
103
%
n/a
67
%
Return on average common equity
5
%
44
%
12
%
(17
)%
14
%
At year-end:
Book value per common share
$
16.08
$
10.88
$
8.04
$
8.05
$
10.58
Market price per common share
28.23
28.36
24.64
18.36
23.43
Market price as a percent of book value
176
%
261
%
306
%
228
%
221
%
Percentage of common units owned representing limited partner interests in Enable
54.0
%
54.1
%
54.1
%
55.4
%
55.4
%
Total assets (3) (4)
$
27,009
$
22,736
$
21,829
$
21,290
$
23,150
Short-term borrowings
—
39
35
40
53
Securitization Bonds, including current maturities (3)
1,435
1,868
2,278
2,667
3,037
Other long-term debt, including current maturities (3)
7,729
6,933
6,279
6,063
5,717
Capitalization:
Common stock equity
47
%
35
%
29
%
28
%
34
%
Long-term debt, including current maturities
53
%
65
%
71
%
72
%
66
%
Capitalization, excluding Securitization Bonds:
Common stock equity
51
%
40
%
36
%
36
%
44
%
Long-term debt, excluding Securitization Bonds, and including current maturities
49
%
60
%
64
%
64
%
56
%
Capital expenditures
$
1,720
$
1,494
$
1,406
$
1,575
$
1,402
(1)
Net income for the year ended December 31, 2017 includes a reduction in income tax expense of $1,113 million due to tax reform. See Note 15 to the consolidated financial statements for further discussion of the impacts of the TCJA implementation.
(2)
This amount includes $1,846 million of non-cash impairment charges related to Enable.
(3)
Amounts for 2014 and 2015 have been recast to reflect adoption of ASU 2015-03.
(4)
Total assets as of December 31, 2018 include cash and cash equivalents of $4.2 billion.
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