XML 82 R44.htm IDEA: XBRL DOCUMENT v3.10.0.1
Indexed Debt Securities (ZENS) and Securities Related to ZENS (CenterPoint Energy) (Tables)
 12 Months Ended
Dec. 31, 2018
Indexed Debt Securities [Abstract]  
Summarized Financial Information on Investment in Time Warner Securities and Indexed Debt Security Obligation [Table Text Block]
In 1995, CenterPoint Energy sold a cable television subsidiary to TW and received certain ZENS-Related Securities as partial consideration. A subsidiary of CenterPoint Energy holds shares of certain securities detailed in the table below, which are classified as trading securities and are expected to be held to facilitate CenterPoint Energy’s ability to meet its obligation under the ZENS. Unrealized gains and losses resulting from changes in the market value of the ZENS-Related Securities are recorded in CenterPoint Energy’s Statements of Consolidated Income.
 
 
Shares Held at December 31,
 
 
2018
 
2017
AT&T Common
 
10,212,945

 
—

Charter Common
 
872,912

 
872,503

Time Common
 
—

 
888,392

TW Common
 
—

 
7,107,130


The following table sets forth summarized financial information regarding CenterPoint Energy’s investment in ZENS-Related Securities and each component of CenterPoint Energy’s ZENS obligation. 
 
ZENS-Related
Securities
 
Debt
Component
of ZENS
 
Derivative
Component
of ZENS
 
(in millions)
Balance as of December 31, 2015
$
805

 
$
145

 
$
442

Accretion of debt component of ZENS
—

 
26

 
—

2% interest paid
—

 
(17
)
 
—

Sale of ZENS-Related Securities
(178
)
 
—

 
—

Distribution to ZENS holders
—

 
(40
)
 
(21
)
Loss on indexed debt securities
—

 
—

 
296

Gain on ZENS-Related Securities
326

 
—

 
—

Balance as of December 31, 2016
953

 
114

 
717

Accretion of debt component of ZENS
—

 
27

 
—

2% interest paid
—

 
(17
)
 
—

Distribution to ZENS holders
—

 
(2
)
 
—

Gain on indexed debt securities
—

 
—

 
(49
)
Gain on ZENS-Related Securities
7

 
—

 
—

Balance as of December 31, 2017
960

 
122

 
668

Accretion of debt component of ZENS
—

 
21

 
—

2% interest paid
—

 
(17
)
 
—

Sale of ZENS-Related Securities
(398
)
 
—

 
—

Distribution to ZENS holders
—

 
(102
)
 
(46
)
Gain on indexed debt securities
—

 
—

 
(21
)
Loss on ZENS-Related Securities
(22
)
 
—

 
—

Balance as of December 31, 2018
$
540

 
$
24

 
$
601

As a result, CenterPoint Energy recorded the following during the year ended December 31, 2018 related to the events discussed above:
 
Meredith/Time
 
AT&T/TW
 
(in millions)
Cash payment to ZENS note holders
$
16

 
$
382

Indexed debt – reduction
(4
)
 
(95
)
Indexed debt securities derivative – reduction
(1
)
 
(45
)
     Loss on indexed debt securities
$
11

 
$
242

 
CenterPoint Energy’s reference shares for each ZENS consisted of the following:
 
 
December 31,
 
 
2018
 
2017
 
 
(in shares)
AT&T Common
 
0.7185

 
—

Charter Common
 
0.061382

 
0.061382

Time Common
 
—

 
0.0625

TW Common
 
—

 
0.5