CenterPoint Energy 2009 Annual Report Download - page 59

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37
Item 6. Selected Financial Data
The following table presents selected financial data with respect to our consolidated financial condition and
consolidated results of operations and should be read in conjunction with our consolidated financial statements and
the related notes in Item 8 of this report.
Year Ended December 31,
2005(1)(2) 2006(2) 2007(2) 2008(2) 2009
(In millions, except per share amounts)
Revenues ...........................................................................................
.
$ 9,722 $ 9,319 $ 9,623 $ 11,322 $ 8,281
Income from continuing operations before extraordinary item.......
.
220 427 395 446 372
Discontinued operations, net of tax ..................................................
.
(3)
—
—
—
—
Extraordinary item, net of tax ..........................................................
.
30
—
—
—
—
Net income ........................................................................................
.
$ 247 $ 427 $ 395 $ 446 $ 372
Basic earnings (loss) per common share:
Income from continuing operations before extraordinary item.....
.
$ 0.71 $ 1.37 $ 1.23 $ 1.32 $ 1.02
Discontinued operations, net of tax ...............................................
.
(0.01)
—
—
—
—
Extraordinary item, net of tax ........................................................
.
0.10
—
—
—
—
Basic earnings per common share ....................................................
.
$ 0.80 $ 1.37 $ 1.23 $ 1.32 $ 1.02
Diluted earnings (loss) per common share:
Income from continuing operations before extraordinary item.....
.
$ 0.66 $ 1.31 $ 1.15 $ 1.30 $ 1.01
Discontinued operations, net of tax ...............................................
.
(0.01)
—
—
—
—
Extraordinary item, net of tax ........................................................
.
0.09
—
—
—
—
Diluted earnings per common share .................................................
.
$ 0.74 $ 1.31 $ 1.15 $ 1.30 $ 1.01
Cash dividends declared per common share ....................................
.
$ 0.40 $ 0.60 $ 0.68 $ 0.73 $ 0.76
Dividend payout ratio from continuing operations ..........................
.
56% 44% 55% 55% 75%
Return from continuing operations on average common equity .....
.
18.2% 29.8% 23.4% 23.3% 16.0%
Ratio of earnings from continuing operations to fixed charges.......
.
1.49 1.74 1.82 2.05 1.80
At yea
r
-end:
Book value per common share .......................................................
.
$ 4.21 $ 4.98 $ 5.61 $ 5.84 $ 6.74
Market price per common share ....................................................
.
12.85 16.58 17.13 12.62 14.51
Market price as a percent of book value ........................................
.
305% 333% 305% 216% 215%
Total assets .....................................................................................
.
$ 17,116 $ 17,633 $ 17,872 $ 19,676 $ 19,773
Shor
t
-term borrowings ..................................................................
.
—
187 232 153 55
Transition and system restoration bonds, including current
maturities ......................................................................................
.
2,480 2,407 2,260
2,589 3,046
Other long-term debt, including current maturities .......................
.
6,411 6,586 7,417 7,925 6,976
Capitalization:
Common stock equity ..................................................................
.
13% 15% 16% 16% 21%
Long-term debt, including current maturities ..............................
.
87% 85% 84% 84% 79%
Capitalization, excluding transition and system restoration
b
onds:
Common stock equity ..................................................................
.
17% 19% 20% 20% 27%
Long-term debt, excluding transition and system restoration
b
onds, including current maturities ...........................................
.
83% 81% 80%
80% 73%
Capital expenditures, excluding discontinued operations .............
.
$ 719 $ 1,121 $ 1,011 $ 1,053 $ 1,148
__________
(1) Net income for 2005 includes an after-tax extraordinary gain of $30 million ($0.10 and $0.09 per basic and
diluted share, respectively) recorded in the first quarter reflecting an adjustment to the extraordinary loss
recorded in the last half of 2004 to write down generation-related regulatory assets as a result of the final
orders issued by the Texas Utility Commission.
(2) Net income has been retrospectively adjusted by $5 million, $5 million, $4 million and $1 million for the years
ended 2005, 2006, 2007 and 2008, respectively, to reflect the adoption of new accounting guidance as of
January 1, 2009 for convertible debt instruments that may be settled in cash upon conversion.