CenterPoint Energy 2008 Annual Report Download - page 69

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47
approximately $1.1 billion of capital expenditures;
maturing long-term debt aggregating approximately $216 million, including $208 million of transition
bonds; and
dividend payments on CenterPoint Energy common stock and interest payments on debt.
We expect that borrowings under our credit facilities and anticipated cash flows from operations will be sufficient
to meet our anticipated cash needs in 2009. Cash needs or discretionary financing or refinancing may result in the
issuance of equity or debt securities in the capital markets or the arrangement of additional credit facilities.
Issuances of equity or debt in the capital markets and additional credit facilities may not, however, be available to us
on acceptable terms.
The following table sets forth our capital expenditures for 2008 and estimates of our capital requirements for
2009 through 2013 (in millions):
2008
2009
2010
2011
2012
2013
Electric Transmission & Distribution .........................
$ 481
$ 422
$ 591
$ 579
$ 504
$ 506
Natural Gas Distribution .............................................
214
155
234
241
243
249
Competitive Natural Gas Sales and Services ..............
8
3
3
3
3
3
Interstate Pipelines ......................................................
189
202
151
87
67
70
Field Services .............................................................
122
277
142
82
93
85
Other Operations ........................................................
39
39
38
39
31
27
Total ........................................................................
$ 1,053
$ 1,098
$1,159
$1,031
$ 941
$ 940
The following table sets forth estimates of our contractual obligations, including payments due by period
(in millions):
Contractual Obligations
Total
2009
2010-2011
2012-2013
2014 and
thereafter
Transition bond debt ....................................................
$ 2,589
$ 208
$ 461
$ 546
$ 1,374
Other long-term debt(1) ...............................................
8,624
8
792
2,732
5,092
Interest payments — transition bond debt(2) ...............
794
140
227
177
250
Interest payments — other long-term debt(2) ..............
4,812
481
948
794
2,589
Short-term borrowings .................................................
153
153
—
—
—
Capital leases ...............................................................
1
—
—
—
1
Operating leases(3) ......................................................
75
14
23
13
25
Benefit obligations(4) ..................................................
—
—
—
—
—
Purchase obligations(5) ................................................
24
24
—
—
—
Non-trading derivative liabilities ................................
134
87
41
6
—
Other commodity commitments(6) ..............................
3,520
776
911
877
956
Income taxes(7) ............................................................
121
121
—
—
—
Other ............................................................................
30
5
13
12
—
Total contractual cash obligations.............................
$20,877
$2,017
$ 3,416
$ 5,157
$10,287
__________
(1) ZENS obligations are included in 2029 at their contingent principal amount of $817 million. These
obligations are exchangeable for cash at any time at the option of the holders for 95% of the current value
of the Time Warner reference shares ($218 million at December 31, 2008), as discussed in Note 6 to our
consolidated financial statements.
(2) We calculated estimated interest payments for long-term debt as follows: for fixed-rate debt and term debt,
we calculated interest based on the applicable rates and payment dates; for variable-rate debt and/or non-
term debt, we used interest rates in place as of December 31, 2008. We typically expect to settle such
interest payments with cash flows from operations and short-term borrowings.
(3) For a discussion of operating leases, please read Note 10(b) to our consolidated financial statements.