Form 11-K

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 11-K

 

 

(Mark One)

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended December 31, 2017

OR

 

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

For the transition period from                      to                     

Commission file number 1-31447

 

 

 

A. Full title of the plan and address of the plan, if different from that of the issuer named below:

CenterPoint Energy Savings Plan

 

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

CenterPoint Energy, Inc.

1111 Louisiana Street

Houston, Texas 77002

 

 

 


CENTERPOINT ENERGY SAVINGS PLAN

TABLE OF CONTENTS

 

Report of Independent Registered Public Accounting Firm

     Page 1  

Financial Statements:

  

Statements of Net Assets Available for Benefits, December  31, 2017 and 2016

     Page 2  

Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2017

     Page 3  

Notes to Financial Statements

     Page 4  

Supplemental Schedule:

  

Schedule H, Line 4i-Schedule of Assets (Held at End of Year) December 31, 2017

     Page 11  

Signature

     Page 12  

Other supplemental schedules required by Section 2520.103-10 of the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Participants and Plan Administrator of

the CenterPoint Energy Savings Plan:

Opinion on the Financial Statements

We have audited the Statements of Net Assets Available for Benefits of the CenterPoint Energy Savings Plan (the Plan) as of December 31, 2017 and 2016, and the related Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2017 and the related notes to the financial statements (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017, in conformity with accounting principles generally accepted in the United States of America.

Basis of Opinion

These financial statements are the responsibility of Plan management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the auditing standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing audit procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by Plan management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Report on Supplemental Information

The supplementary information of Schedule of Assets (Held at End of Year) as of December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplementary information is the responsibility of Plan management. Our audit procedures included determining whether the supplementary information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplementary information. In forming our opinion on the supplementary information, we evaluated whether the supplementary information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under Employee Retirement Income Security Act. In our opinion, the supplementary information is fairly stated, in all material respects, in relation to the financial statements as a whole.

We have served as the Plan’s auditors since 2004.

/s/ McConnell & Jones LLP

Houston, Texas

June 22, 2018

 

1


CENTERPOINT ENERGY SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

 

     December 31,  
     2017     2016  

Assets

    

Investments at fair value

   $ 1,977,373,793     $ 1,735,211,054  

Fully benefit-responsive investment contracts at contract value

     241,698,135       231,632,812  
  

 

 

   

 

 

 

Total investments

     2,219,071,928       1,966,843,866  

Receivables:

    

Notes receivable from participants

     35,654,222       34,926,082  

Dividends and interest

     735,186       752,170  

Employer contributions

     896,798       875,173  

Total receivables

     37,286,206       36,553,425  
  

 

 

   

 

 

 

Total Assets

     2,256,358,134       2,003,397,291  
  

 

 

   

 

 

 

Liabilities

    

Pending Investment transactions

     (380,415     (346,833

Other

     (133,777     (168,449
  

 

 

   

 

 

 

Total Liabilities

     (514,192     (515,282
  

 

 

   

 

 

 

Net Assets Available for Plan Benefits

   $ 2,255,843,942     $ 2,002,882,009  
  

 

 

   

 

 

 

See accompanying Notes to Financial Statements.

 

2


CENTERPOINT ENERGY SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

FOR THE YEAR ENDED DECEMBER 31, 2017

 

Investment Income:

  

Net appreciation in investments

   $ 302,420,721  

Dividends and interest

     27,412,676  
  

 

 

 

Total investment income

     329,833,397  
  

 

 

 

Interest on note receivable from participants

     1,564,170  

Contributions:

  

Participant

     60,453,726  

Employer

     41,498,245  

Rollover

     3,324,960  
  

 

 

 

Total contributions

     105,276,931  
  

 

 

 

Expenses:

  

Benefit payments

     (181,028,780

Administative expenses

     (2,683,785
  

 

 

 

Total expenses

     (183,712,565
  

 

 

 

Increase in Net Assets Available for Plan Benefits

     252,961,933  

Net Assets Available for Plan Benefits:

  

Beginning of Period

     2,002,882,009  
  

 

 

 

End of Period

   $ 2,255,843,942  
  

 

 

 

See accompanying Notes to Financial Statements.

 

3


CENTERPOINT ENERGY SAVINGS PLAN

Notes to Financial Statements

December 31, 2017 and 2016

 

1. Description of the Plan

The following description of the CenterPoint Energy Savings Plan (Plan) provides only general information. Participants (as defined below) should refer to the Plan document for a more complete description of the Plan’s provisions. In the case of any discrepancy between this summary and the Plan document, the Plan document will govern.

 

  (a) General

The Plan is a defined contribution plan established in accordance with Sections 401(a) and 401(k) of the Internal Revenue Code of 1986, as amended (IRC), and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). Effective January 1, 2009, the Plan is a “safe harbor” 401(k) plan under the IRC, which means it is deemed to satisfy certain deferral and contribution nondiscrimination testing requirements.

Participants include all employees of CenterPoint Energy, Inc. (Company or CenterPoint Energy) and those subsidiaries and affiliates of the Company that have adopted the Plan except (a) employees covered by a collective bargaining agreement unless such agreement provides for participation in the Plan, (b) leased employees, (c) independent contractors and (d) non-resident aliens who receive no United States sourced income (Participants).

 

  (b) Contributions

Participants may make pre-tax and/or, effective October 1, 2015, Roth contributions up to 50% and after-tax contributions up to 16%, of eligible compensation, not to exceed the Internal Revenue Service (IRS) limits as defined in the Plan. Active Participants age 50 or over may contribute an additional pre-tax and/or Roth contribution not to exceed the IRS limit ($6,000 for 2017); however, the Company generally does not provide the match on such “catch-up” contributions, unless a matching contribution is required to meet the safe harbor plan provisions under the IRC. Participants may also contribute amounts representing rollover eligible distributions from other defined benefit or defined contribution plans, IRC Section 403(b) annuity plans, IRC Section 457 governmental plans or Individual Retirement Accounts. Participants direct their contributions into the various eligible investment options offered by the Plan.

All new employees are automatically enrolled in the Plan to make pre-tax contributions unless they elect otherwise. An employee who has been automatically enrolled is deemed to have elected to defer pre-tax contributions (Automatic Contribution). Effective January 1, 2016, the initial Automatic Contribution percentage is 6%.

A notice is provided to all employees who are scheduled to be automatically enrolled in the Plan (Automatic Enrollment Notice). In general, an employee has 30 days after receiving the Automatic Enrollment Notice to elect not to make any pre-tax contributions or choose a different contribution percentage.

Contributions, including all related employer matching contributions, made under the Automatic Contribution provision of the Plan are invested in the default investment fund as defined in the Plan. Employees may elect to change the Automatic Contribution percentage and/or direct the contributions to any of the investment options offered under the Plan at any time after the commencement of the Automatic Contribution. The Company matches 100% of the first 6% of eligible compensation contributed by a Participant to the Plan (excluding catch-up contributions unless required to meet the safe harbor plan provisions under the IRC). Employer contributions are made in the form of cash and are invested in accordance with Participant elections.

The CenterPoint Energy Common Stock Fund (CenterPoint Energy Stock Fund) is an investment option under the Plan. Effective January 1, 2016, a Participant may not elect (i) that more than 25% of future contributions (including Company matching contributions) be invested in the CenterPoint Energy Stock Fund or (ii) a transfer of any portion of his or her current account balance that would result in more than 25% of the total account balance invested in the Company Stock Fund. Furthermore, any transfer of funds into or out of the CenterPoint Energy Stock Fund and other elections under the Plan that impact investments in the CenterPoint Energy Stock Fund are subject to the Company’s Insider Trading Policy. In addition, Participants may elect to have dividends paid on their investment in the CenterPoint Energy Stock Fund either reinvested in the CenterPoint Energy Stock Fund or paid to them in cash, and they can transfer all or part of their investment in the CenterPoint Energy Stock Fund to the other investment options offered by the Plan.

 

4


CENTERPOINT ENERGY SAVINGS PLAN

Notes to Financial Statements

December 31, 2017 and 2016

 

Contributions are subject to certain limitations as set forth under the IRC or the limits set forth in the Plan document.

 

  (c) Investment Options

The Plan offered the following investment funds (Funds) as of December 31, 2017:

 

    Balanced Fund

 

    CenterPoint Energy Stock Fund

 

    Fixed Income Fund

 

    International Equity Fund

 

    Large Company Growth Fund

 

    Large Company Value Fund

 

    S&P 500 Index Fund

 

    Small Company Fund

 

    Stable Value Fund

 

    Vanguard Target Retirement Income Fund

 

    Vanguard Target Retirement 2015 Fund

 

    Vanguard Target Retirement 2020 Fund

 

    Vanguard Target Retirement 2025 Fund

 

    Vanguard Target Retirement 2030 Fund

 

    Vanguard Target Retirement 2035 Fund

 

    Vanguard Target Retirement 2040 Fund

 

    Vanguard Target Retirement 2045 Fund

 

    Vanguard Target Retirement 2050 Fund

 

    Vanguard Target Retirement 2055 Fund

 

    Vanguard Target Retirement 2060 Fund

 

    Vanguard Target Retirement 2065 Fund

Upon enrollment in the Plan, Participants may direct contributions, in 1% increments, in any of the investment options; provided, however, that effective January 1, 2016, a Participant may not elect to invest more than 25% of future contributions (including Company matching contributions) in the CenterPoint Energy Stock Fund. Participants should refer to the Plan prospectus for a detailed description of each Fund.

 

  (d) Participant Accounts

Individual accounts are maintained for each Participant. Each Participant’s account is credited with the Participant’s contributions and with allocations of the Company contributions and Plan earnings. Each Participant’s account is also charged with an allocation of administrative expenses. Allocations are based on Participant account balances. A Participant is entitled to their vested account balance.

 

  (e) Vesting and Forfeitures

Participants are immediately fully vested in all contributions and actual earnings thereon. As a result, there are no forfeitures.

 

5


CENTERPOINT ENERGY SAVINGS PLAN

Notes to Financial Statements

December 31, 2017 and 2016

 

  (f) Notes Receivable from Participants

A Participant may borrow against their vested account balance. The maximum amount that a Participant may borrow is the lesser of (a) $50,000, reduced by the excess, if any, of the highest outstanding balance of loans to the Participant from all plans maintained by the Company or an affiliated entity during the one-year period ending on the day before the date on which such loan is made, over the outstanding balance of loans from the Plan on the date on which such loan is made or (b) 50% of the value of the Participant’s vested account balance under the Plan.

The loans are secured by the pledge of a portion of the Participant’s right, title and value of the Participant’s vested account balance under the Plan as determined immediately after the loans are made. The minimum loan amount is $500. Loans may be repaid over a period of up to five years and are subject to a $50 origination fee. Interest rates for loans originated from the Plan are fixed at the prime rate listed in The Wall Street Journal for the first of each month in which the loan is requested plus 1%. Loan transactions are treated as a transfer to (from) the investment fund from (to) notes receivable from Participants.

 

  (g) Payment of Benefits

Upon termination of employment, a Participant whose account exceeds $1,000 (or $5,000 effective January 1, 2016) may elect, upon written request at any time, to receive a distribution in a single lump-sum payment or fixed monthly, quarterly, semi-annual or annual installments over a period of ten years or less. Effective January 1, 2016, a Participant may also elect a partial distribution of his or her account upon termination of employment. Such distributions are generally paid in the form of cash; however, if the Participant has investments in the CenterPoint Energy Stock Fund, the Participant may elect an in-kind distribution of the Participant’s account balance in the CenterPoint Energy Stock Fund.

Generally, to the extent a Participant has not requested a distribution by the time he or she reaches age 70 12, required minimum distributions will be made consistent with the terms and conditions of the Plan and the requirements of the IRC. Immediate lump-sum distributions are made for accounts which do not exceed $1,000 (or $5,000 effective January 1, 2016, subject to direct roll over to an individual retirement account if greater than $1,000 but not exceeding $5,000, unless the Participant directs the distribution otherwise).

A Participant who is under age 59 12 may make a withdrawal from amounts attributable to after-tax contributions and, if applicable, rollover contributions in the Plan and associated earnings. If a Participant is under age 59 12 and has less than five years of service withdraws matched after-tax contributions, the Participant will be suspended from making after-tax contributions to the Plan for six months. A Participant who is age 59 12 or older may make unlimited withdrawals from pre-tax contributions, Roth contributions, after-tax contributions, vested portion of prior Plan accounts, rollover accounts and any associated earnings.

The Plan allows active participants under age 59 12 to apply for a “hardship” withdrawal from amounts attributable to pre-tax or Roth contributions (not including any earnings and gains thereon) in accordance with Plan provisions. Participants are not permitted to make any pre-tax, Roth, or after-tax contributions for a period of six months immediately following a hardship withdrawal.

Effective August 23, 2017, special “Hurricane Hardship Withdrawals” were available from the Plan, through January 31, 2018, for needs arising from Hurricane Harvey or Hurricane Irma in accordance with Plan provisions and Internal Revenue Service guidance. Hurricane Hardship Withdrawals did not trigger any post-withdrawal suspension of Plan contributions and were available without obtaining all nontaxable loans currently available under the Plan if taking such a loan would have increased the amount of the need. Otherwise, Hurricane Hardship Withdrawals were generally subject to the same requirements as other hardship withdrawals under the Plan.

 

  (h) Administration

The assets of the Plan are held in trust by The Northern Trust Company (Trustee). Voya is the recordkeeper for the Plan. The Benefits Committee of CenterPoint Energy, Inc. (Committee), appointed by the Board of Directors of the Company, is the Plan Administrator (Plan Administrator). The Committee retains an independent investment consultant to provide investment advice with respect to the Funds other than the CenterPoint Energy Stock Fund. Changes to the CenterPoint Energy Stock Fund may be made only by the Board of Directors of the Company.

 

6


CENTERPOINT ENERGY SAVINGS PLAN

Notes to Financial Statements

December 31, 2017 and 2016

 

  (i) Termination of the Plan

Although it has not expressed any intent to do so, the Company may terminate the Plan at any time subject to the provisions of ERISA and must give written notice to the Trustee.

 

2. Summary of Accounting Policies

 

  (a) Basis of Accounting and Use of Estimates

The financial statements of the Plan are prepared on the accrual basis of accounting in conformity with generally accepted accounting principles in the United States of America (GAAP). The preparation of the Plan financial statements in conformity with GAAP requires the Plan Administrator to make estimates and assumptions that affect the reported amounts of net assets available for benefits at the date of the financial statements and the changes in net assets available for benefits during the reporting period and, when applicable, disclosures of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

 

  (b) Investment Valuation and Income Recognition

The investments in all Funds, except for the fully benefit-responsive investment contracts, of the Plan are reported at fair value. Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Investments are reflected at fair value in the financial statements, except for fully benefit-responsive investment contracts which are stated at contract value. Security transactions are recorded as of the trade date. Interest income is recorded on the accrual basis. Dividends are recorded as of the ex-dividend date.

 

  (c) Notes Receivable from Participants

Notes receivable from Participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant notes are reclassified as distributions based upon the terms of the Plan. Interest income on notes receivable from Participants is recorded when it is earned.

 

  (d) Payment of Benefits

Benefits are recorded when paid.

 

  (e) Plan Expenses

Direct Plan expenses such as trustee, recordkeeping, auditing and investment management fees and certain general administrative expenses are paid from the Plan assets. These expenses are shown as a separate component in the Statement of Changes in Net Assets Available for Plan Benefits. Plan expenses other than the aforementioned items are included as a component of investment gains and losses and reported on Schedule C of Form 5500 as indirect compensation.

 

7


CENTERPOINT ENERGY SAVINGS PLAN

Notes to Financial Statements

December 31, 2017 and 2016

 

3. Fair Value Measurements

Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures establishes a framework for measuring fair value as it relates to financial assets and liabilities and to non-financial assets and liabilities measured at fair value on a recurring basis. That framework provides a three-level valuation hierarchy based upon observable and unobservable inputs, with preference given to observable inputs. The three levels of the fair value hierarchy under FASB ASC 820 are described below:

 

Level 1

   Inputs are unadjusted quoted prices in active markets for identical assets or liabilities;

Level 2

   Inputs, other than quoted prices included in Level 1, are observable either directly or indirectly. Level 2 inputs include quoted prices for similar instruments in active markets, and inputs other than quoted prices that are observable for the assets or liabilities; and

Level 3

   Inputs are unobservable for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Unobservable inputs reflect the Plan’s judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. Unobservable inputs are based on the best information available in the circumstances, which might include the Plan’s own data.

Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2017 and 2016:

 

Asset

   Level   

Valuation Methodology

Common or collective trust

funds and Company stock fund

   2    Valued at the net asset value of units held by the Plan, and generally include the use of significant observable inputs in determining the unit value which is available daily.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

 

8


CENTERPOINT ENERGY SAVINGS PLAN

Notes to Financial Statements

December 31, 2017 and 2016

 

The following tables set forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2017 and 2016:

 

     Investments at Fair Value as of December 31, 2017  
     Level 1      Level 2      Level 3      Total  

Common or collective trust funds

   $ —        $ 1,606,529,881      $ —        $ 1,606,529,881  

Company stock fund

     —          370,843,912        —          370,843,912  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total investments at fair value

   $ —        $ 1,977,373,793      $ —        $ 1,977,373,793  

Fully benefit-responsive investment contracts at contract value

              241,698,135  
           

 

 

 

Total investments

            $ 2,219,071,928  
           

 

 

 
     Investments at Fair Value as of December 31, 2016  
     Level 1      Level 2      Level 3      Total  

Common or collective trust funds

   $ —        $ 1,379,221,634      $ —        $ 1,379,221,634  

Company stock fund

     —          355,989,420        —          355,989,420  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total investments at fair value

   $ —        $ 1,735,211,054      $ —        $ 1,735,211,054  

Fully benefit-responsive investment contracts at contract value

              231,632,812  
           

 

 

 

Total investments

            $ 1,966,843,866  
           

 

 

 

 

4. Investments

The Plan has significant holdings of Company common stock. As a result, the values of the Plan’s investments may be materially impacted by the changes in the fair value of this security.

Stable Value Fund

The Stable Value Fund utilizes synthetic guaranteed investment contracts (Synthetic GICs). A Synthetic GIC includes a wrap contract issued by an insurance company or other financial institution and a portfolio of fixed income assets that are owned by the Stable Value Fund. The wrap contract provides that realized and unrealized gains and losses on the assets covered by the wrap contract are not reflected immediately in the net assets of the Stable Value Fund, but rather are amortized over the duration of the assets or other agreed upon period, through adjustments to the future interest crediting rates. The wrap contract provides a guarantee that all qualified participant withdrawals will occur at contract value which represents contributions made under the contract, plus earnings, less withdrawals made under the contract and administrative expenses. As of December 31, 2017, the investments held by the Stable Value Fund consist of:

 

Synthetic guaranteed investment contracts

   $ 235,073,272  

Traditional investment contracts

     6,624,863  
  

 

 

 

Total contract value

   $ 241,698,135  

Wrap contracts provide that withdrawals associated with certain events not in the ordinary course of fund operations may be paid at market rather than contract value. Examples of such circumstances may include significant plan design changes, complete or partial plan terminations, severance programs, early retirement programs, the closing or sale of a subsidiary, bankruptcy of the plan sponsor or the failure of the trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA. The Plan Administrator does not believe the occurrence of the above events that would limit the Plan’s ability to conduct transactions with Participants at contract value is probable.

 

9


CENTERPOINT ENERGY SAVINGS PLAN

Notes to Financial Statements

December 31, 2017 and 2016

 

5. Risks and Uncertainties

The Plan provides for investments in Company common stock, commingled and mutual funds and other investments. Investments, in general, are exposed to various risks, such as interest rate, credit and overall market volatility risk. Due to the level of risk associated with certain investments, it is reasonably possible that changes in the values of investments will occur in the near term and that such changes could materially affect the amounts reported in the Statements of Net Assets Available for Benefits and Participant account balances. Rates of return will vary, and returns will depend on the market value of the Plan’s investments.

 

6. Tax Status

The IRS has determined and informed the Company by letter dated July 21, 2017 that the Plan is qualified and the trust fund established is tax-exempt under the appropriate sections of the IRC. Although the Plan has been amended since receiving the determination letter, the Plan Administrator and the Plan sponsor’s counsel believe these amendments have not adversely affected the Plan’s qualified status and the related trust’s tax-exempt status as of the financial statement date.

GAAP requires the Plan Administrator to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2017 and 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by the IRS; however, there are currently no audits for any tax periods in progress. The Plan Administrator believes it is generally no longer subject to income tax examinations for years prior to 2014.

 

7. Related Party Transactions

During 2017, the Plan purchased and sold shares of the Company’s common stock and units of short-term investment funds managed by the Trustee as temporary investments (party-in-interest transactions) as shown below:

 

Purchases    Company Common Stock    $ 3,156,223
   Northern Trust Collective Short Term Investment Fund      194,190,259  
Sales    Company Common Stock    $ 39,557,614  
   Northern Trust Collective Short Term Investment Fund      196,924,061  

 

10


CENTERPOINT ENERGY SAVINGS PLAN

EIN 74-0694415 PLAN 015

SCHEDULE H, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2017

 

(a)    (b)     Identity of issue, borrower, lessor or similar party  

(c) Description of investment including maturity date, rate of

      interest, collateral, par or maturity value

   (e) Current value  
     COMMON OR COLLECTIVE TRUSTS     
     BLACKROCK   EQUITY INDEX FUND    $ 329,772,991  
     BLACKROCK   MSCI ACWI EX US INDEX FUND      29,888,243  
     BLACKROCK   RUSSELL 1000 GROWTH INDEX FUND      100,004,137  
     BLACKROCK   RUSSELL 1000 VALUE INDEX FUND      70,169,581  
     BLACKROCK   RUSSELL 2000 INDEX FUND      23,839,313  
     MELLON BANK   EB DAILY LIQUIDITY AGGREGATE BOND FUND      63,660,511  
*      NORTHERN TRUST   SHORT-TERM INVESTMENT FUND      19,618,034  
     HARDING LOEVNER   INTL EQUITY COLLECTIVE INVESTMENT FUND      58,922,440  
     VANGUARD   TARGET RETIREMENT 2015 TRUST II FUND      23,557,560  
     VANGUARD   TARGET RETIREMENT 2020 TRUST II FUND      36,800,679  
     VANGUARD   TARGET RETIREMENT 2025 TRUST II FUND      55,458,667  
     VANGUARD   TARGET RETIREMENT 2030 TRUST II FUND      28,620,362  
     VANGUARD   TARGET RETIREMENT 2035 TRUST II FUND      67,500,103  
     VANGUARD   TARGET RETIREMENT 2040 TRUST II FUND      50,630,624  
     VANGUARD   TARGET RETIREMENT 2045 TRUST II FUND      84,938,952  
     VANGUARD   TARGET RETIREMENT 2050 TRUST II FUND      58,632,050  
     VANGUARD   TARGET RETIREMENT 2055 TRUST II FUND      40,946,953  
     VANGUARD   TARGET RETIREMENT 2060 TRUST II FUND      6,102,604  
     VANGUARD   TARGET RETIREMENT 2065 TRUST II FUND      261,208  
     VANGUARD   TARGET RETIREMENT INCOME TRUST II FUND      15,996,048  
     WELLINGTON MANAGEMENT   SMALL CAP OPPORTUNITIES PORTFOLIO      45,215,596  
  

 

 

        

 

 

 
     SUBTOTAL      $ 1,210,536,656  
*      CENTERPOINT ENERGY INC   COMMON STOCK    $ 363,180,571  
     MUTUAL FUND     
     LSV ASSET MANAGEMENT   VALUE EQUITY FUND    $ 74,266,347  
     LOOMIS SAYLES   FIXED INCOME FUND      59,565,700  
     PIMCO   TOTAL RETURN FUND      138,448,495  
     T ROWE PRICE   INSTITUTIONAL LARGE CAP GROWTH FUND      98,165,021  
     TEMPLETON INVESTMENTS   FOREIGN EQUITY SERIES      39,835,866  
  

 

 

        

 

 

 
     SUBTOTAL      $ 410,281,429  
**      STABLE VALUE FUND   SYNTHETIC GUARANTEED INVESTMENT CONTRACTS    $ 235,073,272  
     TOTAL PLAN INVESTMENTS AT FAIR VALUE      $ 2,219,071,928  
*      NOTES RECEIVABLE FROM PARTICIPANTS     
     CENTERPOINT ENERGY SAVINGS PLAN  

LOANS ISSUED AT INTEREST RATES FROM 1.02%

TO 9.00% WITH VARIOUS MATURITIES

   $ 35,654,222  
* PARTY-IN-INTEREST
** INVESTMENT AT CONTRACT VALUE BEING DEEMED AS FAIR VALUE

HISTORICAL COST INFORMATION IN COLUMN (D) IS NOT PRESENTED BECAUSE THE INVESTMENTS DISPLAYED ARE PARTICIPANT-DIRECTED.

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized.

 

CENTERPOINT ENERGY SAVINGS PLAN

By

 

/s/ William D. Rogers

  (William D. Rogers, Chairman of the Benefits Committee of CenterPoint Energy, Inc., Plan Administrator)

June 22, 2018

 

 

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