CenterPoint Energy 2014 Annual Report Download - page 129

On January 22, 2015 , CenterPoint Energy’s board of directors declared a regular quarterly cash dividend of $0.2475
per share of common
stock payable on March 10, 2015 , to shareholders of record as of the close of business on February 13, 2015 .
On January 23, 2015 , Enable declared a quarterly cash distribution of $0.30875
per unit on all of its outstanding common and subordinated
units for the quarter ended December 31, 2014. Accordingly, CERC Corp. expects to receive a cash distribution of approximately
$72 million
from Enable in the first quarter of 2015 to be made with respect to CERC Corp.’
s limited partner interest in Enable for the fourth quarter of
2014.
None.
Disclosure Controls And Procedures
In accordance with Exchange Act Rules 13a-15 and 15d-
15, we carried out an evaluation, under the supervision and with the participation of
management, including our principal executive officer and principal financial officer, of the effectiveness of our disclosure controls and
procedures as of the end of the period covered by this report. Based on that evaluation, our principal executive officer and principal financial
officer concluded that our disclosure controls and procedures were effective as of December 31, 2014
to provide assurance that information
required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the
time periods specified in the Securities and Exchange Commission’
s rules and forms and such information is accumulated and communicated to
our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding
disclosure.
There has been no change in our internal controls over financial reporting that occurred during the three months ended
December 31, 2014
that has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.
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(4) Interstate Pipelines recorded equity income of $7 million and $26 million in the years ended December 31, 2013 and 2012
,
respectively, from its interest in SESH, a jointly-
owned pipeline. These amounts are included in Equity in earnings of unconsolidated
affiliates under the Other Income (Expense) caption. Interstate Pipelines’ investment in SESH was $404 million as of
December 31,
2012
, and is included in Investment in unconsolidated affiliates. As discussed above, effective May 1, 2013, CenterPoint Energy
reports equity earnings associated with its interest in Enable and equity earnings associated with its interest in SESH under its
Midstream Investments segment, and no longer has an Interstate Pipelines reporting segment prospectively.
(5) Field Services recorded equity income of $5 million for the year ended December 31, 2012
from its interest in Waskom. This amount is
included in Equity in earnings of unconsolidated affiliates under the Other Income (Expense) caption. Beginning on August 1, 2012,
financial results for Waskom are included in operating income due to the July 31, 2012 purchase of the 50%
interest in Waskom that
CenterPoint Energy did not already own. CenterPoint Energy contributed 100%
interest in Waskom to Enable on May 1, 2013.
Effective May 1, 2013, CenterPoint Energy reports equity earnings associated with its interest in Enable under its Midstream
Investments segment, and no longer has a Field Services reporting segment prospectively.
(6)
Results reflected in the year ended December 31, 2013 represent only January 2013 through April 2013.
Year Ended December 31,
Revenues by Products and Services: 2014 2013 2012
Electric delivery
$
2,845
$
2,570
$
2,540
Retail gas sales
5,049
4,150
3,328
Wholesale gas sales
1,159
913
613
Gas transportation and processing
38
345
847
Energy products and services
135
128
124
Total
$
9,226
$
8,106
$
7,452
(18)
Subsequent Events
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
Item 9A.
Controls and Procedures