SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the Fiscal Year Ended December 31, 2004
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 1-3187
A. Full title of the plan and address of the plan, if different from that of the
issuer named below:
CENTERPOINT ENERGY, INC. 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
TABLE OF CONTENTS
Reports of Independent Registered Public Accounting Firms Page 1
Financial Statements:
Statements of Net Assets Available for Benefits, December 31, 2004
and 2003 Page 3
Statement of Changes in Net Assets Available for Benefits for the
Year Ended December 31, 2004 Page 4
Notes to Financial Statements Page 5
Supplemental Schedules:
Schedule H, line 4i-Schedule of Assets (Held at End of Year),
December 31, 2004 Page 10
Schedule H, line 4j-Schedule of Reportable Transactions for the Year
Ended December 31, 2004 Page 14
Pursuant to Item 4 of Form 11-K, the financial statements and schedules referred
to above have been prepared in accordance with regulations of the Employee
Retirement Income Security Act of 1974.
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
CenterPoint Energy, Inc. Savings Plan
We have audited the accompanying statement of net assets available for benefits
of the CenterPoint Energy, Inc. Savings Plan (Plan) as of December 31, 2004 and
the related statement of changes in net assets available for benefits for the
year ended December 31, 2004. These financial statements are the responsibility
of the Plan's management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We conducted our audit in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as
of December 31, 2004 and the changes in net assets available for benefits
for the year then ended in conformity with accounting principles generally
accepted in the United States of America.
Our audit was conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The accompanying supplemental schedules,
listed in the Table of Contents, are presented for the purpose of additional
analysis and are not a required part of the basic financial statements, but are
supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental schedules are the responsibility of the
Plan's management. The supplemental schedules have been subjected to the
auditing procedures applied in our audit of the basic financial statements and,
in our opinion, are fairly stated in all material respects in relation to the
basic financial statements taken as a whole.
MC CONNELL & JONES LLP
Houston, Texas
June 10, 2005
1
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
CenterPoint Energy, Inc. Savings Plan:
We have audited the accompanying statement of net assets available for benefits
of the CenterPoint Energy, Inc. Savings Plan (Plan) as of December 31, 2003.
These financial statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based on
our audit.
We conducted our audit in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan at December 31, 2003
in conformity with accounting principles generally accepted in the United States
of America.
DELOITTE & TOUCHE LLP
Houston, Texas
June 25, 2004
2
CENTERPOINT ENERGY, INC. SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31,
-------------------------------
2004 2003
-------------- --------------
ASSETS
Investments $1,110,861,275 $1,141,446,153
-------------- --------------
Participant loans 31,923,161 40,956,007
-------------- --------------
Receivables:
Dividends and interest 1,217,426 458,001
Pending investment transactions 945,406 -
Employer contributions 714,040 9,660,718
Participant contributions 1,338,580 1,173,093
-------------- --------------
Total receivables 4,215,452 11,291,812
-------------- --------------
Total Assets 1,146,999,888 1,193,693,972
-------------- --------------
LIABILITIES
Interest on ESOP loans from
Company - 12,975
ESOP loans from Company - 1,344,704
Pending investment transactions 194,246 -
Other 236,684 812,812
-------------- --------------
Total Liabilities 430,930 2,170,491
-------------- --------------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS $1,146,568,958 $1,191,523,481
============== ==============
See Notes to Financial Statements.
3
CENTERPOINT ENERGY, INC. SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2004
INVESTMENT GAIN:
Dividends $ 22,020,810
Interest 6,169,584
Net appreciation of investments 171,450,782
-------------
Total investment gain $ 199,641,176
CONTRIBUTIONS:
Participant contributions 46,170,363
Employer contributions 21,240,322
-------------
Total contributions 67,410,685
Administrative expenses (1,224,298)
Plan to plan transfers (224,724,975)
Benefit payments (86,050,017)
Interest on ESOP loans from Company (7,094)
----------------
DECREASE IN NET ASSETS AVAILABLE FOR PLAN
BENEFITS (44,954,523)
NET ASSETS AVAILABLE FOR PLAN BENEFITS:
BEGINNING OF PERIOD 1,191,523,481
----------------
END OF PERIOD $ 1,146,568,958
================
See Notes to Financial Statements.
4
CENTERPOINT ENERGY, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1. BACKGROUND
CenterPoint Energy, Inc. (CenterPoint Energy or the Company) is a public
utility holding company, created on August 31, 2002 as part of a corporate
restructuring of Reliant Energy, Incorporated (Reliant Energy).
CenterPoint Energy is the successor as plan sponsor to the Reliant Energy,
Incorporated Savings Plan and has subsequently changed the plan's name to
the CenterPoint Energy, Inc. Savings Plan (the Plan).
In July 2004, the Company announced its agreement to sell its majority
owned subsidiary, Texas Genco Holdings, Inc. (Texas Genco), to Texas Genco
LLC (formerly known as GC Power Acquisition LLC), an entity owned in equal
parts by affiliates of the Blackstone Group, Hellman & Friedman LLC,
Kohlberg Kravis Roberts & Co. and Texas Pacific Group. Associated with the
sale agreement, the Company acquired on December 14, 2004 the outstanding
common stock of Texas Genco including shares held by the Plan.
In October 2004, the Company created a stand-alone savings plan for Plan
participants impacted by the Texas Genco sale and initiated a plan-to-plan
asset transfer of approximately $225 million.
2. ACCOUNTING POLICIES
Basis of Accounting
The accompanying financial statements have been prepared on the accrual
basis of accounting in accordance with accounting principles generally
accepted in the United States of America.
Investment Valuation and Income Recognition
The Plan recognizes net appreciation or depreciation in the fair value of
its investments. Investments are reflected at fair value in the financial
statements except for stable value investments that are reflected at book
value (see Note 5). The fair value for securities are based on quoted
market prices in an active market. Fair value for mutual and institutional
funds are determined using the net asset value of each fund as of the
financial statement dates. Security transactions are recorded as of the
trade date. Interest income is recorded on the accrual basis. Dividends
are recorded on the ex-dividend date. Participant loans are valued at
cost, which approximates fair value.
Payment of Benefits
Benefits are recorded when paid.
Use of Estimates
The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
Plan management to make estimates and assumptions that affect the reported
amounts of net assets available for Plan benefits and the changes therein
as well as certain disclosures. Actual results could differ from those
estimates.
Risks and Uncertainties
The Plan provides for investments in Company common stock, various 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 plan benefits and
Participant account balances. Rates of return will vary, and returns will
depend on the market value of the Plan's investments.
5
3. SUMMARY OF THE PLAN
Description of the Plan
The following description of the Plan provides only general information.
Participants 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's provisions will
control.
General
The Plan is a defined contribution plan covering all employees of the
Company and those subsidiaries and affiliates of the Company that have
adopted the Plan except (a) building trades workers under a construction
industry collective bargaining agreement, (b) leased employees, (c)
independent contractors or (d) non-resident aliens who receive no U.S.
sourced income. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA).
Contributions
Active Participants may contribute up to 16% of eligible compensation, as
defined in the Plan. Active Participants age 50 or over may contribute an
additional pre-tax contribution up to a total amount of $3,000 for 2004.
Participants may also contribute amounts representing rollover eligible
distributions from other defined benefit or defined contribution plans,
403(b) annuity plans, 457 governmental plans or conduit Individual
Retirement Accounts that have been holding a distribution from a qualified
plan. Participants direct their contributions into the various eligible
investment options offered by the Plan.
In general, the employer matching contribution is 75% of the first 6% of
eligible compensation that the Participant contributes into the Plan.
Additional discretionary matching contributions may be made of up to 50%
of the first 6% of eligible compensation that the Participant contributes
to the Plan. All employer matching contributions (including the
discretionary match) are fully vested at all times.
Participants may elect to invest all or a portion of their contributions
to the Plan in the Company common stock fund. In addition, Participants
may elect to have dividends paid on their investment in Company common
stock either reinvested in the Company stock fund or paid to them in cash,
and they can transfer all or part of their investment in Company common
stock fund to the other investment options offered by the Plan with the
exception of the Reliant Resources and Texas Genco common stock funds.
Contributions are subject to certain limitations.
Investment Options
The Plan offered the following investment funds (Funds):
- Company Common Stock Fund
- Large Company Growth Fund
- Large Company Value Fund
- International Equity Fund
- Balanced Fund
- Fixed Income Fund
- Stable Value Fund
- S&P 500 Index Fund
- Mid-Sized and Small Company Fund
- Reliant Energy (formerly Reliant Resources) Common Stock Fund
- Texas Genco Common Stock Fund
6
Upon enrollment in the Plan, Participants may direct contributions (as
permitted), in 1% increments, in any of the investment options, except for
the Reliant Energy (formerly Reliant Resources) and Texas Genco Common
Stock Funds which are closed to new contributions. Participants should
refer to the Plan prospectus for a detailed description of each investment
fund.
As discussed in Note 1, the Company on December 14, 2004 acquired all the
outstanding shares of Texas Genco common stock including shares held by
the Plan. As a result of the transaction, investments of the Texas Genco
Common Stock Fund were liquidated and the proceeds reinvested in
accordance with Participant elections.
Employee Stock Ownership Plan
The Plan includes an employee stock ownership component (ESOP) that
contains Company stock, a portion of which was encumbered by a loan. In
connection with the ESOP, the Company was a party to an ESOP Trust
Agreement between the Company and State Street Bank (Prior ESOP Trustee).
The Prior ESOP Trustee purchased shares of the Company's common stock in
open market transactions with funds provided by loans (Loans) from the
Company. The Prior ESOP Trustee completed the purchases of shares of the
Company's common stock in December 1991 after purchasing 18,762,184 shares
at a cost of $350 million. At December 31, 2003, the total balance of the
Loans was $1 million. The Loans bore interest at a fixed rate of 9.783%
and were repaid in full during 2004. At December 31, 2003, the fair value
of the ESOP Loans, including accrued interest, was $1 million.
In March 2004, the Plan repaid all outstanding principal and interest
related to the ESOP Loans and allocated the remaining Unallocated ESOP
shares to Participant accounts. As a result, future employer contributions
will be made in the form of cash, which will be invested in accordance
with Participant elections.
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.
Vesting and Forfeitures
Participants are vested immediately in all contributions plus actual
earnings thereon. As a result, forfeited nonvested accounts are no longer
available and were not used to reduce employer contributions during 2004.
Participant Loans
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 to be 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.
Loans may be repaid over a period of up to five years and are subject to a
$25 origination fee. The minimum loan amount is $500. Interest rates 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 one percent. Loan
transactions are treated as a transfer to (from) the investment fund from
(to) the Participant loans fund.
Payment of Benefits
Upon termination, a Participant whose account exceeds $5,000 may elect,
upon written request at any time, to receive a distribution in a single
lump sum payment or fixed monthly, quarterly, semi-annually or annual
installments over a period of ten years or less. The Participant may have
the above selected distribution option paid in the form of cash, Company
or Reliant Energy (formerly Reliant Resources) common stock or in any
combination.
7
Generally, to the extent a Participant has not requested a distribution by
the time he reaches age 70-1/2, required minimum distributions will be
made consistent with the terms and conditions of the Plan and the
requirements of the Internal Revenue Code of 1986, as amended (Code).
Immediate lump sum distributions are made for accounts which do not exceed
$5,000.
A Participant who is under age 59-1/2 may make a withdrawal from amounts
attributable to after-tax contributions and, if applicable, rollover
contributions in the Plan and associated earnings. A Participant who is
under age 59-1/2 and has less than five years of service who withdraws
matched after-tax contributions will be suspended from Plan participation
for six months.
A Participant who is age 59-1/2 or older may make unlimited withdrawals
from pre-tax contributions, after-tax contributions, vested portion of
prior Plan accounts, rollover account and the associated earnings.
Administration
The assets of the Plan are held in trust by The Northern Trust Company
(Trustee). ADP Retirement Services was the recordkeeper for the Plan
through April 8, 2004. Hewitt Associates has been the recordkeeper since
April 8, 2004. The Benefits Committee of CenterPoint Energy, Inc.
(Committee), appointed by the Board of Directors of the Company, is the
Plan administrator. The Committee retains an independent investment
consultant to provide investment advice with respect to the Funds. The
fees charged by the Trustee and the investment consultant are paid by the
Trustee out of the Funds.
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.
4. INVESTMENTS
The following presents investments that represent five percent or more of
the Plan's net assets available for plan benefits.
DECEMBER 31,
---------------------------
2004 2003
------------ ------------
Company common stock, 27,565,537 and 34,749,760 shares, respectively $311,490,568 $336,725,174
Reliant Energy (formerly Reliant Resources) common stock,
10,070,967 and 15,277,399 shares 137,468,700 112,441,657
PIMCO Total Return Fund, 9,107,057 and 8,556,526 shares,
respectively 97,172,302 91,640,394
Barclays Global Investors Equity Index Fund, 5,139,414 and
5,212,017 shares, respectively 87,524,213 80,056,574
During 2004 the Plan's investments (including gains and losses on
investments bought and sold, as well as held during the year) appreciated
in value as follows:
Common stocks $136,415,649
Common or collective trusts 23,065,526
Mutual funds 11,969,607
------------
$171,450,782
============
As detailed above, 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 fair value related to this security.
8
5. STABLE VALUE FUND
The Company has a Stable Value Fund that has investments in synthetic
guaranteed investment contracts as well as short and intermediate-term
fixed income investments. The contract value and fair value of the fund
were $114,620,405 and $114,173,762, respectively as of December 31, 2004.
Total interest income of the Stable Value Fund totaled $3,862,265 for the
year ended December 31, 2004.
The crediting interest rates ranged from 3.4% to 3.6% for the year ended
December 31, 2004. The fund's blended rate of return was 3.5% in 2004.
The crediting rates for synthetic contracts are reset quarterly and are
based on the market value of the underlying portfolio of assets backing
these contracts. Inputs used to determine the crediting rate include each
contract's portfolio value, current yield to maturity, duration and market
value relative to the synthetic contract's book value.
6. TAX STATUS
The Internal Revenue Service (IRS) has determined and informed the Company
by letter dated April 2, 2001 that the Plan, as amended and restated
effective April 1, 1999 and as thereafter amended, is qualified and the
trust fund established is tax-exempt under the appropriate sections of the
Code. Although the Plan has been amended since receiving the determination
letter, the Plan administrator and the Plan sponsor's counsel believe that
the Plan is designed and is currently operated in compliance with the
applicable requirements of the Code.
7. RELATED PARTY TRANSACTIONS
During 2004, 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:
2004
-------------
Purchases Company common stock $ 82,329,926
Northern Trust collective short-term
investment fund 400,883,203
Sales Company common stock $ 73,553,646
Texas Genco common stock 37,934,567
Northern Trust collective short-term
investment fund 399,217,250
8. TRANSFER OF PLAN ASSETS
During 2004, the Plan transferred $224,724,975 in plan assets related to
Texas Genco Participants. The Committee believes that the asset transfer
was a tax-exempt transaction under the Code.
9
CENTERPOINT ENERGY, INC. SAVINGS PLAN
EIN: 74-0694415 PN: 015
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2004
(c) DESCRIPTION OF INVESTMENT INCLUDING MATURITY
(b) IDENTITY OF ISSUE, BORROWER, DATE, RATE OF INTEREST, COLLATERAL, PAR OR (e) CURRENT
(a) LESSOR OR SIMILAR PARTY MATURITY VALUE VALUE
Cash $ 198,727
Abbot Labs Common stock 1,161,585
Abercrombie & Fitch Co. Common stock class A 901,440
Accenture LTD Common stock class A 407,700
Elan Corp PLC ADR 247,975
Aetna Inc. Common stock 636,225
Altria Group Inc. Common stock 745,420
Ambac Financial Group Common stock 804,874
Amylin Pharmaceticals Inc. Common stock 156,512
Analog Devices Inc. Common stock 915,616
Aramark Corp. Common stock class B 466,576
Avaya Inc. Common stock 247,680
Avery Dennison Corp. Common stock 299,850
Baxter International Inc. Common stock 224,510
Beckman Coulter Inc. Common stock 187,572
Best Buy Common stock 398,114
Bisys Group Inc. Common stock 388,220
Boeing Co. Common stock 445,222
Brown & Brown Inc. Common stock 274,365
C H Robinson Worldwide Inc. Common stock 177,664
Cardinal Health Inc. Common stock 546,610
Caterpillar Inc. Common stock 316,907
Canadian National Railway Co. Common stock 312,375
* CenterPoint Energy Inc. Common stock 311,490,568
Cephalon Inc. Common stock 237,610
Checkfree Corp. Common stock 974,848
Cisco Systems Inc. Common stock 1,366,440
Constellation Brands Inc. Common stock class A 1,339,488
Corning Inc. Common stock 543,774
Costco Wholesale Corp. Common stock 624,489
Deere & Co. Common stock 156,240
Dell Inc. Common stock 1,445,402
Delphi Corp. Common stock 277,816
DST Systems Inc. Common stock 458,656
Ebay Inc. Common stock 209,304
Electronic Arts Common stock 450,264
Eli Lilly & Co. Common stock 646,950
EMC Corp. Common stock 255,764
Estee Lauder Cos. Common stock class A 393,622
Fairchild Semiconductor
International Inc. Common stock 492,678
FHLMC Common stock 1,245,530
First Data Corp. Common stock 476,448
10
CENTERPOINT ENERGY, INC. SAVINGS PLAN
EIN: 74-0694415 PN: 015
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2004
(c) DESCRIPTION OF INVESTMENT INCLUDING MATURITY
(b) IDENTITY OF ISSUE, BORROWER, DATE, RATE OF INTEREST, COLLATERAL, PAR OR (e) CURRENT
(a) LESSOR OR SIMILAR PARTY MATURITY VALUE VALUE
Flextronics International Ltd. Common stock 345,500
Forrest Lab Inc. Common stock 637,012
Freescale Semiconductor Common stock class B 18
Franklin Resources Inc. Common stock 90,545
Gallagher Arthur J & Co. Common stock 256,750
General Mills Inc. Common stock 263,463
Genzyme Corp Common stock 638,770
Gilead Sciences Inc. Common stock 503,856
Gillette Co. Common stock 1,670,294
Golden West Financial Corp. Common stock 859,880
Goldman Sachs Group Inc. Common stock 353,736
Graco Inc. Common stock 582,660
Guidant Corp. Common stock 72,100
Halliburton Co. Common stock 718,092
Hospira Inc. Common stock 83,750
Indymac Bancorp Inc. Common stock 434,070
Intel Corp. Common stock 678,310
International Business
Machines Corp. Common stock 887,220
Kimberly Clark Corp. Common stock 513,318
King Pharmaceuticals Inc. Common stock 513,360
KLA Tencor Corp. Common stock 23,290
Kohls Corp. Common stock 599,874
Liberty Media International Common stock 388,332
Inc.
Lowes Cos. Common stock 1,065,415
McGraw Hill Companies Inc. Common stock 357,006
McKesson Corp. Common stock 673,244
Medco Health Solutions Inc. Common stock 499,200
Medtronic Inc. Common stock 859,291
MGI Pharma Inc. Common stock 184,866
Michael's Stores Inc. Common stock 431,568
Microsoft Corp. Common stock 1,826,964
Millennium Pharmaceuticals Inc. Common stock 191,496
Motorola Inc. Common stock 655,320
Nextel Communications Inc. Common stock class A 723,000
Noble Energy Inc. Common stock 320,632
Omnicom Group Inc. Common stock 311,984
Petsmart Inc. Common stock 252,263
Pfizer Inc. Common stock $.11 1/9 par value 1,425,170
Precision Castparts Corp. Common stock 269,288
Reliant Energy, Inc. Common stock 137,468,700
Research in Motion Ltd. Common stock 160,719
Southwest Airlines Co. Common stock 156,288
Schering-Plough Corp. Common stock 1,348,848
Scientific-Atlanta Inc. Common stock 145,244
Sealed Air Corp. Common stock 261,023
11
CENTERPOINT ENERGY, INC. SAVINGS PLAN
EIN: 74-0694415 PN: 015
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2004
(c) DESCRIPTION OF INVESTMENT INCLUDING MATURITY
(b) IDENTITY OF ISSUE, BORROWER, DATE, RATE OF INTEREST, COLLATERAL, PAR OR (e) CURRENT
(a) LESSOR OR SIMILAR PARTY MATURITY VALUE VALUE
Sprint Corp. Common stock 69,580
State Street Corp. Common stock 176,832
Staples Inc. Common stock 360,697
Talbots Inc. Common stock 114,366
Tektronix Inc. Common stock 286,995
Time Warner Inc. Common stock 318,816
Tyco International Ltd. Common stock 489,638
Verisign Inc. Common stock 258,104
Watson Pharmaceuticals Inc. Common stock 764,473
Wyeth Common stock 489,785
XM Satellite Radio Holdings Common stock class A 342,342
Yahoo Inc. Common stock 859,104
-----------
Total Common Stocks 498,581,364
-----------
Common or Collective Trusts
Barclays Global Investors Barclays Global Investors Equity Index Fund 87,524,213
Barclays Global Investors Barclays Global Investors Russell 1000 Growth
Index Fund 29,742,410
Barclays Global Investors Barclays Global Investors Russell 1000 Value
Index Fund 35,172,671
Barclays Global Investors Barclays Global Investors Russell 2000 Index Fund 9,422,458
Capital Guardian Capital Guardian International (Non-U.S.) Equity 31,477,347
Fund
Capital Guardian Capital Guardian U.S. Small Capitalization Fund 16,671,653
Capital Guardian Capital Guardian U.S. Growth Equity Fund 40,876,448
* Northern Trust Northern Trust Collective Short-term
Investment Fund 10,626,557
SEI SEI Stable Asset Fund 12,861,717
-----------
Total Common or Collective Trusts 274,375,474
-----------
Mutual Funds
ICAP ICAP Mutual Fund Equity Portfolio 33,293,294
Ishares Russell 1000 Growth Index Fund 1,351,625
Loomis Sayles Loomis Sayles Fixed Income Fund 34,960,108
PIMCO PIMCO Total Return Fund 97,172,302
Selected American Shares Fund Selected American Shares Fund 45,427,618
Templeton Institutional Funds Foreign Equity Series Prime Shares 15,590,700
Turner Turner Mid-Cap Growth Fund 9,848,088
-----------
Total Mutual Funds 237,643,735
-----------
12
CENTERPOINT ENERGY, INC. SAVINGS PLAN
EIN: 74-0694415 PN: 015
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2004
(c) DESCRIPTION OF INVESTMENT INCLUDING MATURITY
(b) IDENTITY OF ISSUE, BORROWER, DATE, RATE OF INTEREST, COLLATERAL, PAR OR (e) CURRENT
(a) LESSOR OR SIMILAR PARTY MATURITY VALUE VALUE
Synthetic Guaranteed
Investment Contracts
Dwight Asset Management Synthetic GIC, Interest Rate 3.81% Underlying
Investments 49,809,038
State Street Synthetic GIC, Interest Rate 3.81% Wrap Contract 223,328
Dwight Asset Management Synthetic GIC, Interest Rate 3.97% Underlying
Investments 49,806,294
Transamerica Synthetic GIC, Interest Rate 3.97% Wrap
Contract 223,315
--------------
Total Synthetic Guaranteed
Investment Contracts 100,061,975
--------------
Total Plan Investments $1,110,861,275
==============
* Various Participants Participant Loans, Interest Rate 4.0%-10.5% $ 31,923,161
==============
* Party in interest
Historical cost information (column (d)) is not presented on this schedule
since the investments displayed are participant directed.
13
CENTERPOINT ENERGY, INC. SAVINGS PLAN
EIN: 74-0694415 PN: 015
SCHEDULE H, LINE 4j
SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 2004
(h) CURRENT
(f) EXPENSE VALUE OF
(a) IDENTITY (b) DESCRIPTION OF ASSET INCURRED ASSET ON (i) NET
OF PARTY (INCLUDE INTEREST RATE AND (c) PURCHASE (d) SELLING (e) LEASE WITH (g) COST OF TRANSACTION GAIN OR
INVOLVED MATURITY IN CASE OF A LOAN) PRICE PRICE RENTAL TRANSACTION ASSET DATE (LOSS)
SERIES OF TRANSACTIONS
Barclays
Global Barclays Global Investors
Investors Equity Index Fund $35,481,520 $ - $ - $ - $35,481,520 $35,481,520 $ -
Barclays
Global Barclays Global Investors
Investors Equity Index Fund - 26,026,567 - - 25,524,484 26,026,567 502,083
Barclays
Global Barclays Global Investors
Investors Russell 1000 Growth Index Fund 33,354,353 - - - 33,354,353 33,354,353 -
Barclays
Global Barclays Global Investors
Investors Russell 1000 Growth Index Fund - 30,308,476 - - 28,673,696 30,308,476 1,634,780
CenterPoint CenterPoint Energy, Inc.
Energy, Inc. Common Stock * 82,329,926 - - - 82,329,926 82,329,926 -
CenterPoint CenterPoint Energy, Inc.
Energy, Inc. Common Stock * - 73,553,646 - - 86,669,723 73,553,646 (13,116,077)
Northern Northern Trust Collective
Trust Company Short-term Investment Fund * 400,883,203 - - - 400,883,203 400,883,203 -
Northern Northern Trust Collective
Trust Company Short-term Investment Fund * - 399,217,250 - - 399,217,250 399,217,250 -
Capital Capital Guardian U.S. Growth
Guardian Equity Fund 42,000,000 - - - 42,000,000 42,000,000 -
Capital Capital Guardian U.S. Growth
Guardian Equity Fund - 42,443,072 - - 42,000,000 42,443,072 443,072
PIMCO PIMCO Total Return Fund 67,122,941 - - - 67,122,941 67,122,941 -
PIMCO PIMCO Total Return Fund - 45,017,287 - - 42,025,599 45,017,287 2,991,688
SEI SEI Stable Asset Fund 23,566,908 - - - 23,566,908 23,566,908 -
SEI SEI Stable Asset Fund - 47,295,879 - - 47,295,879 47,295,879 -
* Party in interest
14
SIGNATURE
THE PLAN. 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, INC. SAVINGS PLAN
By /s/ BYRON R. KELLEY
----------------------------------
(Byron R. Kelley, Chairman of the Benefits Committee
of CenterPoint Energy, Inc., Plan Administrator)
June 28, 2005
15
EXHIBIT INDEX
23.1 CONSENT OF MC CONNELL & JONES LLP
23.2 CONSENT OF DELOITTE & TOUCHE LLP