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46
RESULTS OF OPERATIONS BY BUSINESS SEGMENT
The following table presents operating income (in millions) for each of our business segments for 2007, 2008 and
2009. Included in revenues are intersegment sales. We account for intersegment sales as if the sales were to third
parties, that is, at current market prices.
Operating Income (Loss) by Business Segment
Year Ended December 31,
2007 2008 2009
Electric Transmission & Distribution ......................................
.
$ 561 $ 545 $ 545
N
atural Gas Distribution ..........................................................
.
218 215 204
Competitive Natural Gas Sales and Services...........................
.
75 62 21
Interstate Pipelines ...................................................................
.
237 293 256
Field Services ...........................................................................
.
99 147 94
Other Operations ......................................................................
.
(5) 11 4
Total Consolidated Operating Income ..................................
.
$ 1,185 $ 1,273 $ 1,124
Electric Transmission & Distribution
The following tables provide summary data of our Electric Transmission & Distribution business segment,
CenterPoint Houston, for 2007, 2008 and 2009 (in millions, except throughput and customer data):
Year Ended December 31,
2007 2008 2009
Revenues:
Electric transmission and distribution utilit
y
................................... $ 1,560 $ 1,593 $ 1,673
Transition and system restoration
b
ond companies......................... 277 323 340
Total revenues ............................................................................ 1,837 1,916 2,013
Expenses:
Operation and maintenance, excluding transition and system
restoration
b
ond companies ........................................................ 652 703
774
Depreciation and amortization, excluding transition and system
restoration
b
ond companies ........................................................ 243 277
277
Taxes other than income taxes ........................................................ 223 201 208
Transition and system restoration
b
ond companies......................... 158 190 209
Total expenses ........................................................................... 1,276 1,371 1,468
Operating Income ............................................................................... $ 561 $ 545 $ 545
Operating Income:
Electric transmission and distribution operations............................ $ 400 $ 407 $ 414
Competition transition char
g
e.......................................................... 42 5
—
Transition and system restoration
b
ond companies
(1)
..................... 119 133 131
Total segment operating income ................................................ $ 561 $ 545 $ 545
Throughput (in gigawat
t
-hours (GWh)):
Residential ................................................................................. 23,999 24,258 24,815
Total ........................................................................................... 76,291 74,840 74,579
N
umber of metered customers a
t
end of period:
Residential ................................................................................. 1,793,600 1,821,267 1,849,019
Total ........................................................................................... 2,034,074 2,064,854 2,094,210
__________
(1) Represents the amount necessary to pay interest on the transition and system restoration bonds.
2009 Compared to 2008. Our Electric Transmission & Distribution business segment reported operating income
of $545 million for 2009, consisting of $414 million from our regulated electric transmission and distribution utility
operations (TDU) and $131 million related to transition and system restoration bond companies. For 2008, operating
income totaled $545 million, consisting of $407 million from the TDU, exclusive of an additional $5 million from
the competition transition charge (CTC), and $133 million related to transition bond companies. Revenues for the
TDU increased due to higher transmission-related revenues ($50 million), in part reflecting the impact of a