Earnings Per Share (CenterPoint Energy) (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table reconciles numerators and denominators of CenterPoint Energy’s basic and diluted earnings per common share.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions, except per share and share amounts)
Numerator:
Income (loss) from continuing operations	$	127	$	251	$	(791)	$	545
Less: Preferred stock dividend requirement (Note 19)	36		29		102		88
Less: Amortization of beneficial conversion feature (Note 19)	16		—		25		—
Less: Undistributed earnings allocated to preferred shareholders (1)	—		—		—		—
Income (loss) available to common shareholders from continuing operations - basic and diluted	75		222		(918)		457
Income (loss) available to common shareholders from discontinued operations - basic and diluted	(6)		19		(182)		89
Income (loss) available to common shareholders - basic and diluted	$	69	$	241	$	(1,100)	$	546
Denominator:
Weighted average common shares outstanding - basic	544,811,000		502,228,000		525,160,000		501,986,000
Plus: Incremental shares from assumed conversions:
Restricted stock (4)	3,377,000		2,852,000		—		2,852,000
Series B Preferred Stock (2)	—		—		—		—
Series C Preferred Stock (3)	—		—		—		—
Weighted average common shares outstanding - diluted	548,188,000		505,080,000		525,160,000		504,838,000

Earnings (loss) per common share:
Basic earnings (loss) per common share - continuing operations	$	0.14	$	0.44	$	(1.75)	$	0.91
Basic earnings (loss) per common share - discontinued operations	(0.01)		0.04		(0.35)		0.18
Basic Earnings (Loss) Per Common Share	$	0.13	$	0.48	$	(2.10)	$	1.09
Diluted earnings (loss) per common share - continuing operations	$	0.14	$	0.44	$	(1.75)	$	0.91
Diluted earnings (loss) per common share - discontinued operations	(0.01)		0.03		(0.35)		0.17
Diluted Earnings (Loss) Per Common Share	$	0.13	$	0.47	$	(2.10)	$	1.08

(1)There were no undistributed earnings to be allocated to participating securities for the three and nine months ended September 30, 2020.

(2)The computation of diluted earnings per common share outstanding for the three and nine months ended September 30, 2020 excludes 35,940,000 and 35,923,000 potentially dilutive shares from the denominator, respectively, because the shares would be anti-dilutive. The computation of diluted earnings per common share outstanding for the three and nine months ended September 30, 2019 excludes 33,537,000 and 33,537,000 potentially dilutive shares from the denominator, respectively, because the shares would be anti-dilutive.

(3)The computation of diluted earnings per common share outstanding for the three and nine months ended September 30, 2020 excludes 47,355,000 and 25,578,000 potentially dilutive shares, respectively, of Series C Preferred Stock from the denominator because the shares would be anti-dilutive.

(4)3,377,000 incremental common shares from assumed conversions of restricted stock have not been included in the computation of diluted earnings (loss) per share for the nine months ended September 30, 2020, respectively, as their inclusion would be anti-dilutive.