CenterPoint Energy 2009 Annual Report Download - page 121

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99
(8) Short-term Borrowings and Long-term Debt
December 31,
2008
December 31,
2009
Lon
g
-Term Current(1) Lon
g
-Term Current(1)
(In millions)
Shor
t
-term
b
orrowin
g
s:
CERC Corp. receivables facility .......................................................
.
$
—
$ 78 $
—
$
—
Inventory financing ...........................................................................
.
—
75
—
55
Total shor
t
-term borrowings .........................................................
.
—
153
—
55
Long-term debt:
CenterPoint Ener
gy
:
ZENS(2) ...........................................................................................
.
—
117
—
121
Senior notes 5.95% to 7.25% due 2010 to 2018 ...............................
.
950
—
750 200
Pollution control bonds 4.00% due 2015(3) .....................................
.
151
—
151
—
Pollution control bonds 4.70% to 8.00% due 2011 to 2030(4)(5) ....
.
871
—
581 290
Bank loans due 2012(6) ....................................................................
.
264
—
—
—
Othe
r
.................................................................................................
.
12 1
—
7
CenterPoint Houston:
First mortgage bonds 9.15% due 2021 .............................................
.
102
—
102
—
General mort
g
a
g
e bonds 5.60% to 7.00% due 2013 to 2033............
.
1,262
—
1,762
—
Pollution control bonds 3.625% to 5.60% due 2012 to 2027(7).......
.
229
—
229
—
System restoration bonds 1.833% to 4.243% due 2010 to 2022.......
.
—
—
645 20
Transition Bonds 4.192% to 5.63% due 2010 to 2020 .....................
.
2,381 208 2,160 221
Bank loans due 2012(6) ....................................................................
.
251
—
—
—
CERC Corp.:
Convertible subordinated debentures 6.00% due 2012 (8) ...............
.
44 7
—
44
Senior notes 5.95% to 7.875% due 2011 to 2037 .............................
.
2,747
—
2,747
—
Bank loans due 2012(6) ....................................................................
.
926
—
—
—
Othe
r
......................................................................................................
.
1
—
1
—
Unamortized discount and premium(9) .................................................
.
(10)
—
(9)
—
Total long-term deb
t
.....................................................................
.
10,181 333 9,119 903
Total deb
t
.................................................................................
.
$ 10,181 $ 486 $ 9,119 $ 958
__________
(1) Includes amounts due or exchangeable within one year of the date noted.
(2) CenterPoint Energy’s ZENS obligation is bifurcated into a debt component and an embedded derivative
component. For additional information regarding ZENS, see Note 6(b). As ZENS are exchangeable for
cash at any time at the option of the holders, these notes are classified as a current portion of long-term
debt.
(3) These series of debt are secured by first mortgage bonds of CenterPoint Houston.
(4) $527 million of these series of debt is secured by general mortgage bonds of CenterPoint Houston.
(5) In January 2010, CenterPoint Energy purchased $290 million principal amount of pollution control bonds
issued on its behalf at 101% of their principal amount.
(6) Classified as long-term debt because the termination dates of the facilities under which the funds were
borrowed are more than one year from the date noted.
(7) These series of debt are secured by general mortgage bonds of CenterPoint Houston.
(8) In January 2010, pursuant to a notice of redemption dated December 11, 2009, CERC redeemed all of its
outstanding 6% convertible subordinated debentures due in 2012.
(9) Debt acquired in business acquisitions is adjusted to fair market value as of the acquisition date. Included in
long-term debt is additional unamortized premium related to fair value adjustments of long-term debt of $3