CenterPoint Energy 2014 Annual Report Download - page 113
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Investment in Unconsolidated Affiliates:
Equity in Earnings of Unconsolidated Affiliates, net:
Summarized consolidated income information for Enable is as follows:
103
Year Ended December 31,
2014
2013
(in millions)
Enable
$
4,520
$
4,319
SESH (1)
1
199
Total
$
4,521
$
4,518
(1) On May 30, 2014, CenterPoint Energy contributed a 24.95% interest in SESH to Enable, leaving CenterPoint Energy with a
0.1%
interest in SESH as of December 31, 2014 .
Year Ended December 31,
2014
2013
2012
(in millions)
Enable (1)
$
303
$
173
$
—
SESH (2)
5
15
26
Waskom (3)
—
—
5
Total
$
308
$
188
$
31
(1)
On May 1, 2013, CenterPoint Energy formed Enable with OGE and ArcLight.
(2) On each of May 1, 2013 and May 30, 2014, CenterPoint Energy contributed a 24.95%
interest in SESH to Enable, leaving CenterPoint
Energy with a 0.1% interest in SESH as of December 31, 2014 .
(3) On July 31, 2012, Waskom became a wholly owned subsidiary of CenterPoint Energy. Beginning on August 1, 2012, Waskom’
s
operating results are consolidated on the Statements of Consolidated Income. On May 1, 2013, CenterPoint Energy contributed
Waskom to Enable.
Year Ended December 31,
2014
2013 (1)
(in millions)
Operating revenues
$
3,367
$
2,123
Cost of sales, excluding depreciation and amortization
1,914
1,241
Operating income
586
322
Net income attributable to Enable
530
289
CenterPoint Energy’s approximate interest
$
298
$
168
Basis difference accretion
5
5
CenterPoint Energy’s equity in earnings, net
$
303
$
173
(1)
The amounts included in this column represent the eight month period from formation of Enable on May 1, 2013 through December 31,
2013.