Attached files
file | filename |
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8-K/A - 8-K/A - Duke Energy CORP | a12-12519_28ka.htm |
Exhibit 99.1
1st Qtr 2012 Statistical Supplement
CONTENTS
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2 |
DUKE ENERGY CORPORATION | |
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2 |
Consolidating Statement of Operations (Q1 2012) |
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3 |
Consolidating Statement of Operations (Q1 2011) |
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4 |
Consolidating Balance Sheet - Assets |
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5 |
Consolidating Balance Sheet - Liabilities and Common Stockholders Equity |
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6 |
U.S. FRANCHISED ELECTRIC AND GAS | |
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6 |
Consolidating Segment Income (Q1 2012) |
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7 |
Consolidating Segment Income (Q1 2011) |
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8 |
Consolidating Balance Sheet - Assets |
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9 |
Consolidating Balance Sheet - Liabilities and Common Stockholders Equity |
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10 |
Operating Statistics (Carolinas) |
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11 |
Operating Statistics (DE Midwest - Electric & Gas) |
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12 |
APPENDIX | |
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12 |
Duke Energy Ohio Supplement (Q1 2012) |
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13 |
Duke Energy Ohio Supplement (Q1 2011) |
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14 |
Reconciliation of As Reported Results to As Recasted |
Duke Energy Corporation
CONSOLIDATING STATEMENT OF OPERATIONS
(Unaudited)
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Three Months Ended |
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U.S. Franchised |
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Commercial |
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International |
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Eliminations/ |
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March 31, |
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(In millions) |
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Electric and Gas |
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Power |
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Energy |
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Other |
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Adjustments |
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2012 |
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OPERATING REVENUES |
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Regulated electric |
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$ |
2,488 |
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$ |
23 |
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$ |
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$ |
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|
$ |
(10 |
) |
$ |
2,501 |
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Non-regulated electric, natural gas, and other |
|
9 |
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557 |
|
402 |
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15 |
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(25 |
) |
958 |
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Regulated natural gas |
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171 |
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171 |
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Total operating revenues |
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2,668 |
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580 |
|
402 |
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15 |
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(35 |
) |
3,630 |
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OPERATING EXPENSES |
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Fuel used in electric generation and purchased power - regulated |
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777 |
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777 |
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Fuel used in electric generation and purchased power - non-regulated |
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339 |
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123 |
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(14 |
) |
448 |
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Cost of natural gas and coal sold |
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75 |
|
8 |
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19 |
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102 |
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Operation, maintenance and other |
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589 |
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116 |
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77 |
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(14 |
) |
(22 |
) |
746 |
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Depreciation and amortization |
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368 |
|
56 |
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24 |
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30 |
|
1 |
|
479 |
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Property and other taxes |
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171 |
|
11 |
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2 |
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184 |
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Impairment charges (a) |
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402 |
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402 |
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Total operating expenses |
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2,382 |
|
530 |
|
245 |
|
16 |
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(35 |
) |
3,138 |
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GAINS (LOSSES) ON SALES OF OTHER ASSETS AND OTHER, NET |
|
4 |
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(1 |
) |
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3 |
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OPERATING INCOME (LOSS) |
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290 |
|
50 |
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157 |
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(2 |
) |
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|
495 |
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OTHER INCOME AND EXPENSES |
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Other income and expenses, net |
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62 |
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8 |
|
54 |
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5 |
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129 |
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Interest Expense |
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146 |
|
19 |
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16 |
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43 |
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224 |
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INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
|
206 |
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39 |
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195 |
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(40 |
) |
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|
400 |
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Income Tax Expense (Benefit) |
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70 |
|
8 |
|
49 |
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(24 |
) |
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|
103 |
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INCOME (LOSS) FROM CONTINUING OPERATIONS |
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136 |
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31 |
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146 |
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(16 |
) |
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297 |
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Less: Net Income (Loss) attributable to non-controlling interest |
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4 |
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4 |
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INCOME (LOSS) FROM CONTINUING OPERATIONS ATTRIBUTABLE TO DUKE ENERGY CORPORATION |
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136 |
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31 |
|
142 |
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(16 |
) |
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|
293 |
| ||||||
Income from Discontinued Operations, net of tax |
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2 |
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NET INCOME ATTRIBUTABLE TO DUKE ENERGY CORPORATION |
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$ |
295 |
| |||||
(a) Primarily due to a $400 million non-cash impairment charge on the Edwardsport IGCC project resulting from a settlement agreement in April 2012.
Consolidated Data
Duke Energy Corporation
CONSOLIDATING STATEMENT OF OPERATIONS
(Unaudited)
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Three Months Ended |
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U.S. Franchised |
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Commercial |
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International |
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Eliminations/ |
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March 31, |
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(In millions) |
|
Electric and Gas |
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Power |
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Energy |
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Other |
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Adjustments |
|
2011 |
| ||||||
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OPERATING REVENUES |
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Regulated electric |
|
$ |
2,437 |
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$ |
145 |
|
$ |
|
|
$ |
|
|
$ |
(9 |
) |
$ |
2,573 |
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Non-regulated electric, natural gas, and other |
|
10 |
|
499 |
|
348 |
|
11 |
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(13 |
) |
855 |
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Regulated natural gas |
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236 |
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(1 |
) |
235 |
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Total operating revenues |
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2,683 |
|
644 |
|
348 |
|
11 |
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(23 |
) |
3,663 |
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OPERATING EXPENSES |
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Fuel used in electric generation and purchased power - regulated |
|
750 |
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62 |
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|
812 |
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Fuel used in electric generation and purchased power - non-regulated |
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|
279 |
|
97 |
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376 |
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Cost of natural gas and coal sold |
|
119 |
|
16 |
|
16 |
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|
151 |
| ||||||
Operation, maintenance and other |
|
694 |
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135 |
|
75 |
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(1 |
) |
(23 |
) |
880 |
| ||||||
Depreciation and amortization |
|
347 |
|
59 |
|
21 |
|
27 |
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|
454 |
| ||||||
Property and other taxes |
|
171 |
|
13 |
|
2 |
|
|
|
|
|
186 |
| ||||||
Total operating expenses |
|
2,081 |
|
564 |
|
211 |
|
26 |
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(23 |
) |
2,859 |
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GAINS (LOSSES) ON SALES OF OTHER ASSETS AND OTHER, NET |
|
|
|
2 |
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|
|
8 |
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|
|
10 |
| ||||||
OPERATING INCOME (LOSS) |
|
602 |
|
82 |
|
137 |
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(7 |
) |
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|
814 |
| ||||||
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OTHER INCOME AND EXPENSES |
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|
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| ||||||
Other income and expenses, net |
|
61 |
|
9 |
|
59 |
|
22 |
|
|
|
151 |
| ||||||
Interest Expense |
|
140 |
|
24 |
|
16 |
|
39 |
|
|
|
219 |
| ||||||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
|
523 |
|
67 |
|
180 |
|
(24 |
) |
|
|
746 |
| ||||||
Income Tax Expense (Benefit) |
|
182 |
|
18 |
|
48 |
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(15 |
) |
|
|
233 |
| ||||||
INCOME (LOSS) FROM CONTINUING OPERATIONS |
|
341 |
|
49 |
|
132 |
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(9 |
) |
|
|
513 |
| ||||||
Less: Net Income (Loss) attributable to non-controlling interest |
|
|
|
|
|
4 |
|
(2 |
) |
|
|
2 |
| ||||||
NET INCOME ATTRIBUTABLE TO DUKE ENERGY CORPORATION |
|
341 |
|
49 |
|
128 |
|
(7 |
) |
|
|
$ |
511 |
| |||||
Duke Energy Corporation
CONSOLIDATING BALANCE SHEET - ASSETS
(Unaudited)
|
|
U.S. Franchised |
|
Commercial |
|
International |
|
|
|
Eliminations/ |
|
March 31, |
| ||||||
(In millions) |
|
Electric and Gas |
|
Power |
|
Energy |
|
Other |
|
Adjustments |
|
2012 |
| ||||||
|
|
|
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| ||||||
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
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| ||||||
Cash and cash equivalents |
|
$ |
54 |
|
$ |
15 |
|
$ |
898 |
|
$ |
104 |
|
$ |
|
|
$ |
1,071 |
|
Short-term investments |
|
|
|
|
|
238 |
|
|
|
|
|
238 |
| ||||||
Receivables, net |
|
677 |
|
1,011 |
|
397 |
|
825 |
|
(2,297 |
) |
613 |
| ||||||
Restricted receivables of variable interest entities, net |
|
1,092 |
|
32 |
|
|
|
|
|
|
|
1,124 |
| ||||||
Inventory |
|
1,501 |
|
140 |
|
102 |
|
11 |
|
|
|
1,754 |
| ||||||
Other |
|
534 |
|
277 |
|
35 |
|
324 |
|
(46 |
) |
1,124 |
| ||||||
Total current assets |
|
3,858 |
|
1,475 |
|
1,670 |
|
1,264 |
|
(2,343 |
) |
5,924 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
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| ||||||
INVESTMENTS AND OTHER ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Investments in equity method unconsolidated affiliates |
|
6 |
|
196 |
|
103 |
|
174 |
|
|
|
479 |
| ||||||
Investments and advances (from) to subsidiaries |
|
(73 |
) |
(4 |
) |
(5 |
) |
31,098 |
|
(31,016 |
) |
|
| ||||||
Nuclear decommissioning trust funds |
|
2,247 |
|
|
|
|
|
|
|
|
|
2,247 |
| ||||||
Goodwill |
|
3,483 |
|
69 |
|
301 |
|
|
|
|
|
3,853 |
| ||||||
Intangibles, net |
|
63 |
|
266 |
|
29 |
|
1 |
|
(2 |
) |
357 |
| ||||||
Notes receivable |
|
3 |
|
|
|
65 |
|
450 |
|
(450 |
) |
68 |
| ||||||
Restricted other assets of variable interest entities |
|
|
|
129 |
|
|
|
|
|
|
|
129 |
| ||||||
Other |
|
1,120 |
|
180 |
|
141 |
|
605 |
|
57 |
|
2,103 |
| ||||||
Total investments and other assets |
|
6,849 |
|
836 |
|
634 |
|
32,328 |
|
(31,411 |
) |
9,236 |
| ||||||
|
|
|
|
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|
|
|
|
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| ||||||
PROPERTY, PLANT AND EQUIPMENT |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Cost |
|
51,288 |
|
5,173 |
|
3,500 |
|
1,076 |
|
(1 |
) |
61,036 |
| ||||||
Cost, variable interest entities |
|
|
|
942 |
|
|
|
|
|
|
|
942 |
| ||||||
Accumulated depreciation and amortization |
|
(16,925 |
) |
(774 |
) |
(926 |
) |
(462 |
) |
1 |
|
(19,086 |
) | ||||||
Generation facilities to be retired, net |
|
79 |
|
|
|
|
|
|
|
|
|
79 |
| ||||||
Net property, plant and equipment |
|
34,442 |
|
5,341 |
|
2,574 |
|
614 |
|
|
|
42,971 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
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| ||||||
REGULATORY ASSETS AND DEFERRED DEBITS |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Regulatory Assets |
|
2,993 |
|
67 |
|
|
|
457 |
|
|
|
3,517 |
| ||||||
Other |
|
103 |
|
32 |
|
|
|
17 |
|
(1 |
) |
151 |
| ||||||
Total regulatory assets and deferred debits |
|
3,096 |
|
99 |
|
|
|
474 |
|
(1 |
) |
3,668 |
| ||||||
TOTAL ASSETS |
|
48,245 |
|
7,751 |
|
4,878 |
|
34,680 |
|
(33,755 |
) |
61,799 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Intercompany balances |
|
(455 |
) |
(867 |
) |
(126 |
) |
(32,343 |
) |
33,791 |
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
REPORTABLE SEGMENT ASSETS |
|
$ |
47,790 |
|
$ |
6,884 |
|
$ |
4,752 |
|
$ |
2,337 |
|
$ |
36 |
|
$ |
61,799 |
|
Duke Energy Corporation
CONSOLIDATING BALANCE SHEET - LIABILITIES AND EQUITY
(Unaudited)
|
|
U.S. Franchised |
|
Commercial |
|
International |
|
|
|
Eliminations/ |
|
March 31, |
| ||||||||||||
(In millions) |
|
Electric and Gas |
|
Power |
|
Energy |
|
Other |
|
Adjustments |
|
2012 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Accounts payable |
|
$ |
|
984 |
|
$ |
|
315 |
|
$ |
|
23 |
|
$ |
|
1,040 |
|
$ |
|
(1,312 |
) |
$ |
|
1,050 |
|
Notes payable and commercial paper |
|
154 |
|
|
|
|
|
996 |
|
(969 |
) |
181 |
| ||||||||||||
Non-recourse notes payable of variable interest entities |
|
275 |
|
|
|
|
|
|
|
|
|
275 |
| ||||||||||||
Taxes accrued (prepaid) |
|
192 |
|
(14 |
) |
59 |
|
157 |
|
(25 |
) |
369 |
| ||||||||||||
Interest accrued |
|
222 |
|
6 |
|
27 |
|
31 |
|
1 |
|
287 |
| ||||||||||||
Current maturities of long-term debt |
|
635 |
|
379 |
|
50 |
|
4 |
|
(1 |
) |
1,067 |
| ||||||||||||
Other |
|
654 |
|
81 |
|
67 |
|
302 |
|
(50 |
) |
1,054 |
| ||||||||||||
Total current liabilities |
|
3,116 |
|
767 |
|
226 |
|
2,530 |
|
(2,356 |
) |
4,283 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
LONG-TERM DEBT |
|
12,951 |
|
607 |
|
632 |
|
4,342 |
|
(451 |
) |
18,081 |
| ||||||||||||
NON-RECOURSE LONG-TERM DEBT OF VARIABLE INTEREST ENTITIES |
|
300 |
|
645 |
|
|
|
|
|
|
|
945 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
DEFERRED CREDITS AND OTHER LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Deferred income taxes |
|
6,578 |
|
1,125 |
|
162 |
|
(139 |
) |
|
|
7,726 |
| ||||||||||||
Investment tax credits |
|
381 |
|
|
|
|
|
|
|
|
|
381 |
| ||||||||||||
Accrued pension and other post-retirement benefit costs |
|
490 |
|
68 |
|
|
|
287 |
|
1 |
|
846 |
| ||||||||||||
Asset retirement obligations |
|
1,940 |
|
24 |
|
1 |
|
|
|
|
|
1,965 |
| ||||||||||||
Regulatory Liabilities |
|
2,929 |
|
|
|
|
|
22 |
|
|
|
2,951 |
| ||||||||||||
Other |
|
1,121 |
|
116 |
|
74 |
|
366 |
|
66 |
|
1,743 |
| ||||||||||||
Total deferred credits and other liabilities |
|
13,439 |
|
1,333 |
|
237 |
|
536 |
|
67 |
|
15,612 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Common stock |
|
392 |
|
379 |
|
13 |
|
1 |
|
(784 |
) |
1 |
| ||||||||||||
Additional paid-in capital |
|
8,152 |
|
6,315 |
|
1,818 |
|
27,551 |
|
(22,715 |
) |
21,121 |
| ||||||||||||
Retained earnings (accumulated deficit) |
|
9,914 |
|
(2,242 |
) |
1,834 |
|
(148 |
) |
(7,525 |
) |
1,833 |
| ||||||||||||
Accumulated other comprehensive (loss) income |
|
(19 |
) |
(69 |
) |
38 |
|
(134 |
) |
10 |
|
(174 |
) | ||||||||||||
Total Duke Energy Corporation shareholders equity |
|
18,439 |
|
4,383 |
|
3,703 |
|
27,270 |
|
(31,014 |
) |
22,781 |
| ||||||||||||
Noncontrolling interests |
|
|
|
16 |
|
80 |
|
2 |
|
(1 |
) |
97 |
| ||||||||||||
Total equity |
|
18,439 |
|
4,399 |
|
3,783 |
|
27,272 |
|
(31,015 |
) |
22,878 |
| ||||||||||||
TOTAL LIABILITIES AND EQUITY |
|
48,245 |
|
7,751 |
|
4,878 |
|
34,680 |
|
(33,755 |
) |
61,799 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Intercompany balances |
|
(455 |
) |
(867 |
) |
(126 |
) |
(32,343 |
) |
33,791 |
|
|
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
REPORTABLE SEGMENT LIABILITIES AND EQUITY |
|
$ |
|
47,790 |
|
$ |
|
6,884 |
|
$ |
|
4,752 |
|
$ |
|
2,337 |
|
$ |
|
36 |
|
$ |
|
61,799 |
|
U.S. Franchised Electric and Gas
CONSOLIDATING SEGMENT INCOME
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| |||||
|
|
Duke Energy |
|
Duke Energy |
|
Duke Energy |
|
Eliminations/ |
|
March 31, |
| |||||
(In millions) |
|
Carolinas, LLC |
|
Ohio, Inc. |
|
Indiana, Inc. |
|
Adjustments |
|
2012 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING REVENUES |
|
|
|
|
|
|
|
|
|
|
| |||||
Regulated electric |
|
$ |
1,499 |
|
$ |
302 |
|
$ |
688 |
|
$ |
(1 |
) |
$ |
2,488 |
|
Non-regulated electric, natural gas, and other |
|
2 |
|
|
|
|
|
7 |
|
9 |
| |||||
Regulated natural gas |
|
|
|
171 |
|
|
|
|
|
171 |
| |||||
Total operating revenues |
|
1,501 |
|
473 |
|
688 |
|
6 |
|
2,668 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
|
|
| |||||
Fuel used in electric generation and purchased power - regulated |
|
380 |
|
114 |
|
283 |
|
|
|
777 |
| |||||
Cost of natural gas and coal sold |
|
|
|
75 |
|
|
|
|
|
75 |
| |||||
Operation, maintenance and other |
|
320 |
|
115 |
|
156 |
|
(2 |
) |
589 |
| |||||
Depreciation and amortization |
|
228 |
|
43 |
|
96 |
|
1 |
|
368 |
| |||||
Property and other taxes |
|
90 |
|
60 |
|
21 |
|
|
|
171 |
| |||||
Impairment charges (a) |
|
|
|
|
|
400 |
|
2 |
|
402 |
| |||||
Total operating expenses |
|
1,018 |
|
407 |
|
956 |
|
1 |
|
2,382 |
| |||||
GAINS ON SALES OF OTHER ASSETS AND OTHER, NET |
|
3 |
|
1 |
|
|
|
|
|
4 |
| |||||
OPERATING INCOME (LOSS) |
|
486 |
|
67 |
|
(268 |
) |
5 |
|
290 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OTHER INCOME AND EXPENSES |
|
|
|
|
|
|
|
|
|
|
| |||||
Other income and expenses, net (b) |
|
40 |
|
3 |
|
23 |
|
(4 |
) |
62 |
| |||||
Interest Expense |
|
97 |
|
15 |
|
34 |
|
|
|
146 |
| |||||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
|
429 |
|
55 |
|
(279 |
) |
1 |
|
206 |
| |||||
Income Tax expense (benefit) |
|
156 |
|
21 |
|
(116 |
) |
9 |
|
70 |
| |||||
INCOME (LOSS) FROM CONTINUING OPERATIONS ATTRIBUTABLE TO DUKE ENERGY CORPORATION |
|
273 |
|
34 |
|
(163 |
) |
(8 |
) |
136 |
| |||||
(a) Primarily due to a $400 million non-cash impairment charge on the Edwardsport IGCC project resulting from a settlement agreement in April 2012.
(b) Primarily due to an equity component of allowance for funds used during construction of $37 million for Carolinas, $1 million for Ohio and $21 million for Indiana, respectively.
Consolidating Segment Income
U.S. Franchised Electric and Gas
CONSOLIDATING SEGMENT INCOME
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| |||||
|
|
Duke Energy |
|
Duke Energy |
|
Duke Energy |
|
Eliminations/ |
|
March 31, |
| |||||
(In millions) |
|
Carolinas, LLC |
|
Ohio, Inc. |
|
Indiana, Inc. |
|
Adjustments |
|
2011 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING REVENUES |
|
|
|
|
|
|
|
|
|
|
| |||||
Regulated electric |
|
$ |
1,550 |
|
$ |
228 |
|
$ |
659 |
|
$ |
|
|
$ |
2,437 |
|
Non-regulated electric, natural gas, and other |
|
2 |
|
|
|
|
|
8 |
|
10 |
| |||||
Regulated natural gas |
|
|
|
236 |
|
|
|
|
|
236 |
| |||||
Total operating revenues |
|
1,552 |
|
464 |
|
659 |
|
8 |
|
2,683 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
|
|
| |||||
Fuel used in electric generation and purchased power - regulated |
|
469 |
|
35 |
|
246 |
|
|
|
750 |
| |||||
Cost of natural gas and coal sold |
|
|
|
119 |
|
|
|
|
|
119 |
| |||||
Operation, maintenance and other |
|
422 |
|
112 |
|
158 |
|
2 |
|
694 |
| |||||
Depreciation and amortization |
|
201 |
|
46 |
|
100 |
|
|
|
347 |
| |||||
Property and other taxes |
|
84 |
|
65 |
|
22 |
|
|
|
171 |
| |||||
Total operating expenses |
|
1,176 |
|
377 |
|
526 |
|
2 |
|
2,081 |
| |||||
OPERATING INCOME (LOSS) |
|
376 |
|
87 |
|
133 |
|
6 |
|
602 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OTHER INCOME AND EXPENSES |
|
|
|
|
|
|
|
|
|
|
| |||||
Other income and expenses, net (a) |
|
42 |
|
4 |
|
23 |
|
(8 |
) |
61 |
| |||||
Interest Expense |
|
89 |
|
14 |
|
36 |
|
1 |
|
140 |
| |||||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
|
329 |
|
77 |
|
120 |
|
(3 |
) |
523 |
| |||||
Income Tax expense (benefit) |
|
116 |
|
29 |
|
42 |
|
(5 |
) |
182 |
| |||||
INCOME (LOSS) FROM CONTINUING OPERATIONS ATTRIBUTABLE TO DUKE ENERGY CORPORATION |
|
213 |
|
48 |
|
78 |
|
2 |
|
341 |
| |||||
(a) Primarily due to an equity component of allowance for funds used during construction of $39 million for Carolinas, $2 million for Ohio and $19 million for Indiana, respectively.
U.S. Franchised Electric and Gas
CONSOLIDATING BALANCE SHEET - ASSETS
(Unaudited)
|
|
Duke Energy |
|
Duke Energy |
|
Duke Energy |
|
Eliminations/ |
|
March 31, |
| |||||
(In millions) |
|
Carolinas, LLC |
|
Ohio, Inc. |
|
Indiana, Inc. |
|
Adjustments |
|
2012 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
| |||||
Cash and cash equivalents |
|
$ |
15 |
|
$ |
17 |
|
$ |
22 |
|
$ |
|
|
$ |
54 |
|
Receivables, net |
|
460 |
|
486 |
|
1,486 |
|
(1,755 |
) |
677 |
| |||||
Restricted receivables of variable interest entities, net |
|
593 |
|
|
|
|
|
499 |
|
1,092 |
| |||||
Inventory |
|
1,021 |
|
116 |
|
364 |
|
|
|
1,501 |
| |||||
Other |
|
335 |
|
75 |
|
122 |
|
2 |
|
534 |
| |||||
Total current assets |
|
2,424 |
|
694 |
|
1,994 |
|
(1,254 |
) |
3,858 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
INVESTMENTS AND OTHER ASSETS |
|
|
|
|
|
|
|
|
|
|
| |||||
Investments in equity method unconsolidated affiliates |
|
6 |
|
|
|
|
|
|
|
6 |
| |||||
Investments and advances to (from) subsidiaries |
|
(54 |
) |
(3 |
) |
3,564 |
|
(3,580 |
) |
(73 |
) | |||||
Nuclear decommissioning trust funds |
|
2,247 |
|
|
|
|
|
|
|
2,247 |
| |||||
Goodwill |
|
|
|
921 |
|
|
|
2,562 |
|
3,483 |
| |||||
Intangibles, net |
|
11 |
|
4 |
|
47 |
|
1 |
|
63 |
| |||||
Notes receivable |
|
|
|
|
|
3 |
|
|
|
3 |
| |||||
Other |
|
955 |
|
42 |
|
116 |
|
7 |
|
1,120 |
| |||||
Total investments and other assets |
|
3,165 |
|
964 |
|
3,730 |
|
(1,010 |
) |
6,849 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
PROPERTY, PLANT AND EQUIPMENT |
|
|
|
|
|
|
|
|
|
|
| |||||
Cost |
|
33,257 |
|
6,274 |
|
11,733 |
|
24 |
|
51,288 |
| |||||
Accumulated depreciation and amortization |
|
(11,460 |
) |
(1,954 |
) |
(3,511 |
) |
|
|
(16,925 |
) | |||||
Generation facilities to be retired, net |
|
79 |
|
|
|
|
|
|
|
79 |
| |||||
Net property, plant and equipment |
|
21,876 |
|
4,320 |
|
8,222 |
|
24 |
|
34,442 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
REGULATORY ASSETS AND DEFERRED DEBITS |
|
|
|
|
|
|
|
|
|
|
| |||||
Regulatory Assets |
|
1,800 |
|
447 |
|
746 |
|
|
|
2,993 |
| |||||
Other |
|
69 |
|
7 |
|
24 |
|
3 |
|
103 |
| |||||
Total regulatory assets and deferred debits |
|
1,869 |
|
454 |
|
770 |
|
3 |
|
3,096 |
| |||||
TOTAL ASSETS |
|
29,334 |
|
6,432 |
|
14,716 |
|
(2,237 |
) |
48,245 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Intercompany balances |
|
22 |
|
|
|
(4,840 |
) |
4,363 |
|
(455 |
) | |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
REPORTABLE SEGMENT ASSETS |
|
$ |
29,356 |
|
$ |
6,432 |
|
$ |
9,876 |
|
$ |
2,126 |
|
$ |
47,790 |
|
Segment Consolidating Balance Sheet
U.S. Franchised Electric and Gas
CONSOLIDATING BALANCE SHEET - LIABILITIES AND COMMON STOCKHOLDERS EQUITY
(Unaudited)
|
|
Duke Energy |
|
Duke Energy |
|
Duke Energy |
|
Eliminations/ |
|
March 31, |
| |||||
(In millions) |
|
Carolinas, LLC |
|
Ohio, Inc. |
|
Indiana, Inc. |
|
Adjustments |
|
2012 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
|
| |||||
Accounts payable |
|
$ |
449 |
|
$ |
190 |
|
$ |
183 |
|
$ |
162 |
|
$ |
984 |
|
Notes payable and commercial paper |
|
|
|
|
|
178 |
|
(24 |
) |
154 |
| |||||
Non-recourse notes payable of variable interest entities |
|
|
|
|
|
|
|
275 |
|
275 |
| |||||
Taxes accrued |
|
61 |
|
65 |
|
66 |
|
|
|
192 |
| |||||
Interest accrued |
|
150 |
|
25 |
|
48 |
|
(1 |
) |
222 |
| |||||
Current maturities of long-term debt |
|
427 |
|
202 |
|
5 |
|
1 |
|
635 |
| |||||
Other |
|
470 |
|
92 |
|
92 |
|
|
|
654 |
| |||||
Total current liabilities |
|
1,557 |
|
574 |
|
572 |
|
413 |
|
3,116 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
LONG-TERM DEBT |
|
7,796 |
|
1,453 |
|
3,702 |
|
|
|
12,951 |
| |||||
NON-RECOURSE LONG-TERM DEBT OF VARIABLE INTEREST ENTITIES |
|
300 |
|
|
|
|
|
|
|
300 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
DEFERRED CREDITS AND OTHER LIABILITIES |
|
|
|
|
|
|
|
|
|
|
| |||||
Deferred income taxes |
|
4,727 |
|
1,038 |
|
811 |
|
2 |
|
6,578 |
| |||||
Investment tax credits |
|
231 |
|
7 |
|
143 |
|
|
|
381 |
| |||||
Accrued pension and other post-retirement benefit costs |
|
241 |
|
89 |
|
159 |
|
1 |
|
490 |
| |||||
Asset retirement obligations |
|
1,875 |
|
22 |
|
44 |
|
(1 |
) |
1,940 |
| |||||
Regulatory Liabilities |
|
1,970 |
|
265 |
|
684 |
|
10 |
|
2,929 |
| |||||
Other |
|
917 |
|
102 |
|
102 |
|
|
|
1,121 |
| |||||
Total deferred credits and other liabilities |
|
9,961 |
|
1,523 |
|
1,943 |
|
12 |
|
13,439 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Common stock |
|
|
|
392 |
|
1 |
|
(1 |
) |
392 |
| |||||
Additional paid-in capital |
|
1,426 |
|
2,169 |
|
2,732 |
|
1,825 |
|
8,152 |
| |||||
Retained earnings |
|
8,313 |
|
321 |
|
5,754 |
|
(4,474 |
) |
9,914 |
| |||||
Accumulated other comprehensive (loss) income |
|
(19 |
) |
|
|
12 |
|
(12 |
) |
(19 |
) | |||||
Total common stockholders equity |
|
9,720 |
|
2,882 |
|
8,499 |
|
(2,662 |
) |
18,439 |
| |||||
TOTAL LIABILITIES AND COMMON STOCKHOLDERS EQUITY |
|
29,334 |
|
6,432 |
|
14,716 |
|
(2,237 |
) |
48,245 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Intercompany balances |
|
22 |
|
|
|
(4,840 |
) |
4,363 |
|
(455 |
) | |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
REPORTABLE SEGMENT LIABILITIES AND COMMON STOCKHOLDERS EQUITY |
|
$ |
29,356 |
|
$ |
6,432 |
|
$ |
9,876 |
|
$ |
2,126 |
|
$ |
47,790 |
|
Franchised Electric - Carolinas
OPERATING STATISTICS
(Unaudited)
|
|
Three Months Ended March 31, |
| ||
|
|
2012 |
|
2011 |
|
|
|
|
|
|
|
ELECTRIC ENERGY SALES (GWH) |
|
|
|
|
|
Residential |
|
7,030 |
|
8,172 |
|
General service |
|
6,391 |
|
6,488 |
|
Industrial |
|
4,879 |
|
4,789 |
|
Other energy and wholesale |
|
1,333 |
|
1,659 |
|
Total GWh sales billed |
|
19,633 |
|
21,108 |
|
Unbilled GWh sales |
|
(172 |
) |
(524 |
) |
TOTAL GWH SALES |
|
19,461 |
|
20,584 |
|
AVERAGE NUMBER OF CUSTOMERS (IN THOUSANDS) |
|
|
|
|
|
Residential |
|
2,048 |
|
2,039 |
|
General service |
|
336 |
|
334 |
|
Industrial |
|
7 |
|
7 |
|
Other energy and wholesale |
|
14 |
|
14 |
|
TOTAL AVERAGE NUMBER OF CUSTOMERS |
|
2,405 |
|
2,394 |
|
Operating Statistics
Franchised Electric - DE Midwest Electric & Gas
OPERATING STATISTICS
(Unaudited)
|
|
Three Months Ended March 31, |
| ||
|
|
2012 |
|
2011 |
|
|
|
|
|
|
|
ELECTRIC ENERGY SALES (GWH) |
|
|
|
|
|
Residential |
|
4,754 |
|
5,400 |
|
General service |
|
4,167 |
|
4,379 |
|
Industrial |
|
3,954 |
|
3,869 |
|
Other energy and wholesale |
|
1,563 |
|
1,619 |
|
Total GWh sales billed |
|
14,438 |
|
15,267 |
|
Unbilled GWh sales |
|
(115 |
) |
(495 |
) |
TOTAL GWH SALES |
|
14,323 |
|
14,772 |
|
|
|
|
|
|
|
AVERAGE NUMBER OF ELECTRIC AND GAS CUSTOMERS (IN THOUSANDS) |
|
|
|
|
|
Residential |
|
1,892 |
|
1,883 |
|
General service |
|
231 |
|
230 |
|
Industrial |
|
7 |
|
7 |
|
Other energy and wholesale |
|
5 |
|
4 |
|
TOTAL AVERAGE NUMBER OF ELECTRIC AND GAS CUSTOMERS |
|
2,135 |
|
2,124 |
|
|
|
|
|
|
|
AVERAGE NUMBER OF ELECTRIC CUSTOMERS (IN THOUSANDS) |
|
|
|
|
|
Residential |
|
1,420 |
|
1,414 |
|
General service |
|
186 |
|
185 |
|
Industrial |
|
5 |
|
5 |
|
Other energy and wholesale |
|
5 |
|
4 |
|
TOTAL AVERAGE NUMBER OF ELECTRIC CUSTOMERS |
|
1,616 |
|
1,608 |
|
|
|
|
|
|
|
AVERAGE NUMBER OF GAS CUSTOMERS (IN THOUSANDS) |
|
|
|
|
|
Residential |
|
472 |
|
469 |
|
General service |
|
45 |
|
45 |
|
Industrial |
|
2 |
|
2 |
|
TOTAL AVERAGE NUMBER OF GAS CUSTOMERS |
|
519 |
|
516 |
|
Duke Energy Ohio Supplement
CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended March 31, 2012
(Unaudited)
|
|
Franchised Electric and Gas |
|
|
|
|
|
|
| |||||||
|
|
Ohio |
|
|
|
|
|
|
|
|
| |||||
|
|
Transmission & |
|
Duke Energy |
|
Commercial |
|
|
|
|
| |||||
(In millions) |
|
Distribution |
|
Kentucky, Inc. |
|
Power |
|
Other |
|
Consolidated |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING REVENUES |
|
|
|
|
|
|
|
|
|
|
| |||||
Regulated electric |
|
$ |
223 |
|
$ |
79 |
|
$ |
23 |
|
$ |
(1 |
) |
$ |
324 |
|
Non-regulated electric and other |
|
|
|
|
|
431 |
|
(14 |
) |
417 |
| |||||
Regulated natural gas |
|
132 |
|
39 |
|
|
|
|
|
171 |
| |||||
Total operating revenues |
|
355 |
|
118 |
|
454 |
|
(15 |
) |
912 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
|
|
| |||||
Fuel used in electric generation and purchased power - regulated |
|
85 |
|
29 |
|
|
|
|
|
114 |
| |||||
Fuel used in electric generation and purchased power - non-regulated |
|
|
|
|
|
253 |
|
(14 |
) |
239 |
| |||||
Cost of natural gas and coal sold |
|
56 |
|
19 |
|
|
|
|
|
75 |
| |||||
Operation, maintenance and other |
|
81 |
|
34 |
|
76 |
|
5 |
|
196 |
| |||||
Depreciation and amortization |
|
32 |
|
11 |
|
40 |
|
|
|
83 |
| |||||
Property and other taxes |
|
57 |
|
3 |
|
8 |
|
|
|
68 |
| |||||
Total operating expenses |
|
311 |
|
96 |
|
377 |
|
(9 |
) |
775 |
| |||||
GAINS ON SALES OF OTHER ASSETS AND OTHER, NET |
|
1 |
|
|
|
|
|
|
|
1 |
| |||||
OPERATING INCOME (LOSS) |
|
45 |
|
22 |
|
77 |
|
(6 |
) |
138 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OTHER INCOME AND EXPENSES, NET |
|
2 |
|
1 |
|
2 |
|
(1 |
) |
4 |
| |||||
INTEREST EXPENSE |
|
11 |
|
4 |
|
10 |
|
(1 |
) |
24 |
| |||||
INCOME (LOSS) BEFORE INCOME TAXES |
|
36 |
|
19 |
|
69 |
|
(6 |
) |
118 |
| |||||
INCOME TAX EXPENSE (BENEFIT) |
|
14 |
|
7 |
|
25 |
|
(2 |
) |
44 |
| |||||
NET INCOME (LOSS) |
|
$ |
22 |
|
$ |
12 |
|
$ |
44 |
|
$ |
(4 |
) |
$ |
74 |
|
Duke Energy Ohio Supplement
Duke Energy Ohio Supplement
CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended March 31, 2011
(Unaudited)
|
|
Franchised Electric and Gas |
|
|
|
|
|
|
| |||||||
|
|
Ohio |
|
|
|
|
|
|
|
|
| |||||
|
|
Transmission & |
|
Duke Energy |
|
Commercial |
|
|
|
|
| |||||
(In millions) |
|
Distribution |
|
Kentucky, Inc. |
|
Power |
|
Other |
|
Consolidated |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING REVENUES |
|
|
|
|
|
|
|
|
|
|
| |||||
Regulated electric |
|
$ |
142 |
|
$ |
86 |
|
$ |
145 |
|
$ |
(1 |
) |
$ |
372 |
|
Non-regulated electric and other |
|
|
|
|
|
271 |
|
|
|
271 |
| |||||
Regulated natural gas |
|
180 |
|
56 |
|
|
|
|
|
236 |
| |||||
Total operating revenues |
|
322 |
|
142 |
|
416 |
|
(1 |
) |
879 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
|
|
| |||||
Fuel used in electric generation and purchased power - regulated |
|
|
|
35 |
|
62 |
|
|
|
97 |
| |||||
Fuel used in electric generation and purchased power - non-regulated |
|
|
|
|
|
164 |
|
|
|
164 |
| |||||
Cost of natural gas and coal sold |
|
89 |
|
30 |
|
|
|
|
|
119 |
| |||||
Operation, maintenance and other |
|
79 |
|
33 |
|
90 |
|
3 |
|
205 |
| |||||
Depreciation and amortization |
|
34 |
|
12 |
|
42 |
|
|
|
88 |
| |||||
Property and other taxes |
|
62 |
|
3 |
|
8 |
|
|
|
73 |
| |||||
Total operating expenses |
|
264 |
|
113 |
|
366 |
|
3 |
|
746 |
| |||||
GAINS ON SALES OF OTHER ASSETS AND OTHER, NET |
|
|
|
|
|
2 |
|
|
|
2 |
| |||||
OPERATING INCOME (LOSS) |
|
58 |
|
29 |
|
52 |
|
(4 |
) |
135 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
OTHER INCOME AND EXPENSES, NET |
|
3 |
|
1 |
|
1 |
|
|
|
5 |
| |||||
INTEREST EXPENSE |
|
10 |
|
4 |
|
10 |
|
|
|
24 |
| |||||
INCOME (LOSS) BEFORE INCOME TAXES |
|
51 |
|
26 |
|
43 |
|
(4 |
) |
116 |
| |||||
INCOME TAX EXPENSE (BENEFIT) |
|
20 |
|
9 |
|
15 |
|
(1 |
) |
43 |
| |||||
NET INCOME (LOSS) |
|
$ |
31 |
|
$ |
17 |
|
$ |
28 |
|
$ |
(3 |
) |
$ |
73 |
|
Reconciliation of As Reported First Quarter 2011 Results to As Recasted
|
|
USFE&G |
|
Commercial |
|
International |
|
Total |
|
Other |
|
Duke Energy |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Reported EBIT (Prior Segment Measure) |
|
$ |
712 |
|
$ |
91 |
|
$ |
180 |
|
$ |
983 |
|
$ |
(45 |
) |
$ |
938 |
|
Special Items: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Economic hedges |
|
|
|
4 |
|
|
|
4 |
|
|
|
4 |
| ||||||
Costs to achieve |
|
|
|
|
|
|
|
|
|
11 |
|
11 |
| ||||||
Adjusted EBIT (Corporate Measure) |
|
712 |
|
95 |
|
180 |
|
987 |
|
(34 |
) |
953 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment allocation changes |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Corporate governance costs |
|
(43 |
) |
(6 |
) |
(2 |
) |
(51 |
) |
51 |
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Line item mapping changes: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Other income and expense below EBIT |
|
(2 |
) |
5 |
|
19 |
|
22 |
|
5 |
|
27 |
| ||||||
Interest expense |
|
(140 |
) |
(24 |
) |
(16 |
) |
(180 |
) |
(39 |
) |
(219 |
) | ||||||
Income taxes |
|
(186 |
) |
(18 |
) |
(49 |
) |
(253 |
) |
15 |
|
(238 |
) | ||||||
Noncontrolling interest |
|
|
|
|
|
(4 |
) |
(4 |
) |
2 |
|
(2 |
) | ||||||
Adjusted Segment Income (Corporate Measure) |
|
341 |
|
52 |
|
128 |
|
521 |
|
|
|
521 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Special Items, net of tax: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Economic hedges, net of tax |
|
|
|
(3 |
) |
|
|
(3 |
) |
|
|
(3 |
) | ||||||
Costs to achieve, net of tax |
|
|
|
|
|
|
|
|
|
(7 |
) |
(7 |
) | ||||||
Reported Segment Income (New Segment Measure) |
|
$ |
341 |
|
$ |
49 |
|
$ |
128 |
|
$ |
518 |
|
$ |
(7 |
) |
$ |
511 |
|
Purpose: This supplemental schedule reconciles the Q1 2011 segment results from the previous segment measure (EBIT) to the new segment measure (Segment Income).
Reconciliation of As Reported Results to As Recasted