CenterPoint Energy 2013 Annual Report Download - page 78

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56
The following table sets forth our capital expenditures for 2013 and estimates of our capital expenditures for currently identified
or planned projects for 2014 through 2018 (in millions):
2013 2014 2015 2016 2017 2018
Electric Transmission & Distribution............... $ 759 $ 781 $ 833 $ 718 $ 655 $ 666
Natural Gas Distribution .................................. 430 521 491 401 421 404
Energy Services................................................ 31019361111
Interstate Pipelines (1)...................................... 29—————
Field Services (1) ............................................. 16—————
Other Operations .............................................. 35 62 47 43 53 52
Total
............................................................... $ 1,272 $ 1,374 $ 1,390 $ 1,198 $ 1,140 $ 1,133
(1) Following the formation of Enable on May 1, 2013, substantially all of the assets of CenterPoint Energy’s former Interstate
Pipelines and Field Services business segments are owned by Enable.
Our capital expenditures are expected to be used for investment in infrastructure for our electric transmission and distribution
operations and our natural gas distribution operations. These capital expenditures are anticipated to maintain reliability and safety
as well as expand our systems through value-added projects.
The following table sets forth estimates of our contractual obligations, including payments due by period (in millions):
Contractual Obligations Total 2014 2015-2016 2017-2018 2019 and
thereafter
Transition and system restoration bond debt........................ $ 3,400 $ 354 $ 763 $ 845 $ 1,438
Other long-term debt (1) ...................................................... 5,533 — 593 1,396 3,544
Interest payments — transition and system restoration
bond debt (2)..................................................................... 594 119 203 146 126
Interest payments — other long-term debt (2) ..................... 3,433 286 538 435 2,174
Short-term borrowings ......................................................... 4343———
Capital leases........................................................................ 1——— 1
Operating leases (3).............................................................. 216843
Benefit obligations (4).......................................................... —————
Non-trading derivative liabilities ......................................... 21 17 4 — —
Other commodity commitments (5) ..................................... 1,723 408 701 494 120
Total contractual cash obligations (6)................................ $ 14,769 $ 1,233 $ 2,810 $ 3,320 $ 7,406
___________________
(1) 2.0% Zero-Premium Exchangeable Subordinated Notes due 2029 (ZENS) obligations are included in the 2019 and
thereafter column at their contingent principal amount as of December 31, 2013 of $763 million. These obligations are
exchangeable for cash at any time at the option of the holders for 95% of the current value of the reference shares
attributable to each ZENS ($767 million at December 31, 2013), as discussed in Note 10 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, 2013. 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 14(c) to our consolidated financial statements.
(4) In 2014, we expect to make contributions to our qualified pension plan aggregating approximately $87 million. We expect
to contribute approximately $9 million and $17 million, respectively, to our non-qualified pension and postretirement
benefits plans in 2014.
(5) For a discussion of other commodity commitments, please read Note 14(a) to our consolidated financial statements.