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,
2019
2018
2017
2016
2015
(in millions, except per share amounts)
Revenues
$
12,301
$
10,589
$
9,614
$
7,528
$
7,386
Equity in earnings (losses) of unconsolidated affiliates, net
230
307
265
208
(1,663
)
(2)
Income (loss) available to common shareholders
674
333
1,792
(1)
432
(692
)
Basic earnings (loss) per common share
1.34
0.74
4.16
1.00
(1.61
)
Diluted earnings (loss) per common share
1.33
0.74
4.13
1.00
(1.61
)
Year Ended December 31,
2019
2018
2017
2016
2015
(in millions, except per share amounts)
Cash dividends paid per common share
$
1.15
$
1.11
$
1.07
$
1.03
$
0.99
Dividend payout ratio
86
%
150
%
26
%
103
%
n/a
Return on average common equity
8
%
5
%
44
%
12
%
(17
)%
At year-end:
Book value per common share
$
16.64
$
16.08
$
10.88
$
8.04
$
8.05
Market price per common share
27.27
28.23
28.36
24.64
18.36
Market price as a percent of book value
164
%
176
%
261
%
306
%
228
%
Percentage of common units owned representing limited partner interests in Enable
53.7
%
54.0
%
54.1
%
54.1
%
55.4
%
Total assets (3) (4)
$
35,439
$
27,009
$
22,736
$
21,829
$
21,290
Short-term borrowings
—
—
39
35
40
Securitization Bonds, including current maturities
977
1,435
1,868
2,278
2,667
Other long-term debt, including current maturities (5)
14,135
7,729
6,933
6,279
6,063
Capitalization:
Common stock equity
36
%
47
%
35
%
29
%
28
%
Long-term debt, including current maturities
64
%
53
%
65
%
71
%
72
%
Capitalization, excluding Securitization Bonds:
Common stock equity
37
%
51
%
40
%
36
%
36
%
Long-term debt, excluding Securitization Bonds, and including current maturities
63
%
49
%
60
%
64
%
64
%
Capital expenditures
$
2,587
$
1,720
$
1,494
$
1,406
$
1,575
(1)
Income (loss) available to common shareholders 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)
The increase in Total assets as of December 31, 2019, as compared to December 31, 2018, was primarily driven by the assets acquired in the Merger.
(4)
Total assets as of December 31, 2018 include cash and cash equivalents of $4.2 billion.
(5)
The increase in Other long-term debt, including current maturities as of December 31, 2019, as compared to December 31, 2018, was primarily driven by debt incurred to finance the Merger and debt acquired in the Merger.
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