Attached files
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| 8-K - FORM 8-K - Duke Energy CORP | a1q2015statisticalsupplement.htm |
1st Quarter 2015 Statistical Supplement
Table of Contents | ||||
DUKE ENERGY CORPORATION (Unaudited) | DUKE ENERGY OHIO SUPPLEMENT (Unaudited) | |||
Consolidating Statements of Operations | Consolidating Statements of Operations | |||
Consolidating Balance Sheet | ||||
NONREGULATED MIDWEST GENERATION DISCONTINUED OPERATIONS SUPPLEMENT (Unaudited) | ||||
REGULATED UTILITIES (Unaudited) | ||||
Consolidating Segment Income | Duke Energy Corporation | |||
Consolidating Balance Sheet | Duke Energy Ohio | |||
Operating Statistics (Regulated Utilities) | ||||
Operating Statistics (Duke Energy Carolinas) | ||||
Operating Statistics (Duke Energy Progress) | ||||
Operating Statistics (Duke Energy Florida) | ||||
Operating Statistics (Duke Energy Ohio - Electric) | ||||
Operating Statistics (Duke Energy Ohio - Natural Gas) | ||||
Operating Statistics (Duke Energy Indiana) | ||||
DUKE ENERGY CORPORATION
Consolidating Statement of Operations
(Unaudited)
Three Months Ended March 31, 2015 | ||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power (a) | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
Operating Revenues | ||||||||||||||||||
Regulated electric | $ | 5,490 | $ | — | $ | — | $ | 1 | $ | (34 | ) | $ | 5,457 | |||||
Nonregulated electric, natural gas and other | — | 273 | 73 | 26 | 5 | 377 | ||||||||||||
Regulated natural gas | 233 | — | — | — | (2 | ) | 231 | |||||||||||
Total operating revenues | 5,723 | 273 | 73 | 27 | (31 | ) | 6,065 | |||||||||||
Operating Expenses | ||||||||||||||||||
Fuel used in electric generation and purchased power - regulated | 1,941 | — | — | — | — | 1,941 | ||||||||||||
Fuel used in electric generation and purchased power - nonregulated | — | 90 | 14 | — | — | 104 | ||||||||||||
Cost of natural gas and other | 97 | 14 | — | — | — | 111 | ||||||||||||
Operation, maintenance and other | 1,320 | 78 | 46 | 11 | (29 | ) | 1,426 | |||||||||||
Depreciation and amortization | 698 | 23 | 24 | 32 | — | 777 | ||||||||||||
Property and other taxes | 249 | 2 | 5 | 7 | 1 | 264 | ||||||||||||
Total operating expenses | 4,305 | 207 | 89 | 50 | (28 | ) | 4,623 | |||||||||||
Gains on Sales of Other Assets and Other, Net | 7 | — | — | 7 | — | 14 | ||||||||||||
Operating Income (Loss) | 1,425 | 66 | (16 | ) | (16 | ) | (3 | ) | 1,456 | |||||||||
Other Income and Expenses | 72 | 14 | 2 | 1 | (2 | ) | 87 | |||||||||||
Interest Expense | 275 | 23 | 12 | 97 | (4 | ) | 403 | |||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | 1,222 | 57 | (26 | ) | (112 | ) | (1 | ) | 1,140 | |||||||||
Income Tax Expense (Benefit) | 448 | 20 | (27 | ) | (77 | ) | — | 364 | ||||||||||
Income (Loss) from Continuing Operations | 774 | 37 | 1 | (35 | ) | (1 | ) | 776 | ||||||||||
Less: Net Income Attributable to Noncontrolling Interest | — | 1 | — | 2 | — | 3 | ||||||||||||
Segment Income / Net Expense | $ | 774 | $ | 36 | $ | 1 | $ | (37 | ) | $ | (1 | ) | $ | 773 | ||||
Income from Discontinued Operations, Net of Tax(b) | 91 | |||||||||||||||||
Net Income Attributable to Duke Energy Corporation | $ | 864 | ||||||||||||||||
(a) | Commercial Power includes Duke Energy's renewables portfolio, Ohio Valley Electric Corporations (OVEC), Beckjord Steam Station, costs related to MISO Transmission Expansion Project (MTEP) and Regional Transmission Expansion Plan (RTEP), and corporate allocations that were not classified as discontinued operations. |
(b) | See page 26 for details of Discontinued Operations related to the nonregulated Midwest generation disposal group. |
3
DUKE ENERGY CORPORATION
Consolidating Statement of Operations
(Unaudited)
Three Months Ended March 31, 2014(a) | ||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power (b) | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
Operating Revenues | ||||||||||||||||||
Regulated electric | $ | 5,583 | $ | — | $ | — | $ | (3 | ) | $ | (30 | ) | $ | 5,550 | ||||
Nonregulated electric, natural gas and other | — | 382 | 81 | 28 | — | 491 | ||||||||||||
Regulated natural gas | 222 | — | — | — | — | 222 | ||||||||||||
Total operating revenues | 5,805 | 382 | 81 | 25 | (30 | ) | 6,263 | |||||||||||
Operating Expenses | ||||||||||||||||||
Fuel used in electric generation and purchased power - regulated | 2,000 | — | — | — | — | 2,000 | ||||||||||||
Fuel used in electric generation and purchased power - nonregulated | — | 107 | 13 | 16 | — | 136 | ||||||||||||
Cost of natural gas and other | 100 | 16 | — | — | — | 116 | ||||||||||||
Operation, maintenance and other | 1,306 | 83 | 50 | 38 | (28 | ) | 1,449 | |||||||||||
Depreciation and amortization | 677 | 23 | 27 | 28 | — | 755 | ||||||||||||
Property and other taxes | 343 | 2 | 4 | 1 | — | 350 | ||||||||||||
Impairment charges(c) | 1 | — | 94 | 1 | — | 96 | ||||||||||||
Total operating expenses | 4,427 | 231 | 188 | 84 | (28 | ) | 4,902 | |||||||||||
Gains on Sales of Other Assets and Other, Net | 1 | — | — | — | — | 1 | ||||||||||||
Operating Income (Loss) | 1,379 | 151 | (107 | ) | (59 | ) | (2 | ) | 1,362 | |||||||||
Other Income and Expenses | 69 | 57 | 5 | 6 | (6 | ) | 131 | |||||||||||
Interest Expense | 270 | 23 | 14 | 103 | (6 | ) | 404 | |||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | 1,178 | 185 | (116 | ) | (156 | ) | (2 | ) | 1,089 | |||||||||
Income Tax Expense (Benefit) | 441 | 51 | (84 | ) | (69 | ) | — | 339 | ||||||||||
Income (Loss) from Continuing Operations | 737 | 134 | (32 | ) | (87 | ) | (2 | ) | 750 | |||||||||
Less: Net Income Attributable to Noncontrolling Interest | — | 4 | — | — | — | 4 | ||||||||||||
Segment Income (Loss) / Net Expense | $ | 737 | $ | 130 | $ | (32 | ) | $ | (87 | ) | $ | (2 | ) | $ | 746 | |||
Loss from Discontinued Operations, Net of Tax(d) | (843 | ) | ||||||||||||||||
Net Loss Attributable to Duke Energy Corporation | $ | (97 | ) | |||||||||||||||
(a) | Reflects reclassifications due to the impact of discontinued operations. |
(b) | Commercial Power includes Duke Energy's renewables portfolio, OVEC, Beckjord Steam Station, costs related to MTEP and RTEP, and corporate allocations that were not classified as discontinued operations. |
(c) | The amount for Commercial Power include an impairment taken related to OVEC. |
(d) | See page 26 for details of Discontinued Operations related to the nonregulated Midwest generation disposal group. |
4
DUKE ENERGY CORPORATION
Consolidating Balance Sheet - Assets
(Unaudited)
March 31, 2015 | ||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
Current Assets | ||||||||||||||||||
Cash and cash equivalents | $ | 113 | $ | 1,725 | $ | 5 | $ | 978 | $ | — | $ | 2,821 | ||||||
Receivables, net | 418 | 165 | — | 180 | (13 | ) | 750 | |||||||||||
Restricted receivables of variable interest entities, net | 1,977 | — | 18 | 21 | — | 2,016 | ||||||||||||
Receivables from affiliated companies | 105 | 110 | 523 | 12,965 | (13,703 | ) | — | |||||||||||
Notes receivable from affiliated companies | 958 | — | — | 340 | (1,298 | ) | — | |||||||||||
Inventory | 3,311 | 68 | 5 | 29 | — | 3,413 | ||||||||||||
Assets held for sale | — | — | 354 | — | — | 354 | ||||||||||||
Regulatory assets | 893 | — | — | 67 | — | 960 | ||||||||||||
Other | 796 | 34 | 146 | 1,087 | (55 | ) | 2,008 | |||||||||||
Total current assets | 8,571 | 2,102 | 1,051 | 15,667 | (15,069 | ) | 12,322 | |||||||||||
Investments and Other Assets | ||||||||||||||||||
Investments in equity method unconsolidated affiliates | 3 | 51 | 263 | 26 | — | 343 | ||||||||||||
Investments and advances to (from) subsidiaries | 74 | (21 | ) | (7 | ) | 43,033 | (43,079 | ) | — | |||||||||
Nuclear decommissioning trust funds | 5,576 | — | — | — | — | 5,576 | ||||||||||||
Goodwill | 15,950 | 291 | 88 | — | — | 16,329 | ||||||||||||
Assets held for sale | — | — | 2,603 | — | — | 2,603 | ||||||||||||
Other | 1,971 | 413 | 81 | 1,213 | (471 | ) | 3,207 | |||||||||||
Total investments and other assets | 23,574 | 734 | 3,028 | 44,272 | (43,550 | ) | 28,058 | |||||||||||
Property, Plant and Equipment | ||||||||||||||||||
Cost | 98,053 | 3,074 | 2,946 | 1,619 | — | 105,692 | ||||||||||||
Accumulated depreciation and amortization | (33,222 | ) | (934 | ) | (362 | ) | (882 | ) | — | (35,400 | ) | |||||||
Generation facilities to be retired, net | 9 | — | — | — | — | 9 | ||||||||||||
Net property, plant and equipment | 64,840 | 2,140 | 2,584 | 737 | — | 70,301 | ||||||||||||
Regulatory Assets and Deferred Debits | ||||||||||||||||||
Regulatory assets | 10,739 | — | — | 540 | — | 11,279 | ||||||||||||
Other | 101 | 5 | 37 | 39 | — | 182 | ||||||||||||
Total regulatory assets and deferred debits | 10,840 | 5 | 37 | 579 | — | 11,461 | ||||||||||||
Total Assets | 107,825 | 4,981 | 6,700 | 61,255 | (58,619 | ) | 122,142 | |||||||||||
Segment reclassifications, intercompany balances and other | (1,183 | ) | (89 | ) | (498 | ) | (57,025 | ) | 58,795 | — | ||||||||
Reportable Segment Assets | $ | 106,642 | $ | 4,892 | $ | 6,202 | $ | 4,230 | $ | 176 | $ | 122,142 | ||||||
5
DUKE ENERGY CORPORATION
Consolidating Balance Sheet - Liabilities and Equity
(Unaudited)
March 31, 2015 | ||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
Current Liabilities | ||||||||||||||||||
Accounts payable | $ | 1,565 | $ | 33 | $ | 63 | $ | 259 | $ | — | $ | 1,920 | ||||||
Accounts payable to affiliated companies | 13,108 | 5 | 156 | 374 | (13,643 | ) | — | |||||||||||
Notes payable to affiliated companies | 46 | — | 294 | 958 | (1,298 | ) | — | |||||||||||
Notes payable and commercial paper | — | — | — | 3,790 | — | 3,790 | ||||||||||||
Taxes accrued | 560 | 1,115 | (55 | ) | (1,112 | ) | — | 508 | ||||||||||
Interest accrued | 369 | 23 | 1 | 97 | — | 490 | ||||||||||||
Current maturities of long-term debt | 1,927 | 31 | 68 | 774 | — | 2,800 | ||||||||||||
Liabilities associated with assets held for sale | — | — | 146 | — | — | 146 | ||||||||||||
Regulatory liabilities | 235 | — | — | — | — | 235 | ||||||||||||
Other | 1,482 | 78 | 44 | 533 | (123 | ) | 2,014 | |||||||||||
Total current liabilities | 19,292 | 1,285 | 717 | 5,673 | (15,064 | ) | 11,903 | |||||||||||
Long-Term Debt | 25,155 | 898 | 967 | 10,153 | — | 37,173 | ||||||||||||
Notes Payable to Affiliated Companies | 475 | — | — | — | (475 | ) | — | |||||||||||
Deferred Credits and Other Liabilities | ||||||||||||||||||
Deferred income taxes | 14,416 | (568 | ) | 802 | (736 | ) | — | 13,914 | ||||||||||
Investment tax credits | 424 | — | — | — | — | 424 | ||||||||||||
Accrued pension and other post-retirement benefit costs | 740 | 1 | — | 429 | — | 1,170 | ||||||||||||
Liabilities associated with assets held for sale | — | — | 26 | — | — | 26 | ||||||||||||
Asset retirement obligations | 8,496 | 2 | 42 | 1 | — | 8,541 | ||||||||||||
Regulatory liabilities | 6,178 | — | — | 59 | — | 6,237 | ||||||||||||
Other | 1,067 | 70 | 66 | 464 | — | 1,667 | ||||||||||||
Total deferred credits and other liabilities | 31,321 | (495 | ) | 936 | 217 | — | 31,979 | |||||||||||
Equity | ||||||||||||||||||
Total Duke Energy Corporation shareholders' equity | 31,582 | 3,255 | 4,080 | 45,214 | (43,080 | ) | 41,051 | |||||||||||
Noncontrolling interests | — | 38 | — | (2 | ) | — | 36 | |||||||||||
Total equity | 31,582 | 3,293 | 4,080 | 45,212 | (43,080 | ) | 41,087 | |||||||||||
Total Liabilities and Equity | 107,825 | 4,981 | 6,700 | 61,255 | (58,619 | ) | 122,142 | |||||||||||
Segment reclassifications, intercompany balances and other | (1,183 | ) | (89 | ) | (498 | ) | (57,025 | ) | 58,795 | — | ||||||||
Reportable Segment Liabilities and Equity | $ | 106,642 | $ | 4,892 | $ | 6,202 | $ | 4,230 | $ | 176 | $ | 122,142 | ||||||
6
REGULATED UTILITIES
Consolidating Segment Income
(Unaudited)
Three Months Ended March 31, 2015 | |||||||||||||||||||||
(in millions) | Duke Energy Carolinas, LLC | Duke Energy Progress, Inc. | Duke Energy Florida, Inc. | Duke Energy Ohio, Inc. | Duke Energy Indiana, Inc. | Eliminations / Adjustments | Regulated Utilities | ||||||||||||||
Operating Revenues | |||||||||||||||||||||
Regulated electric | $ | 1,901 | $ | 1,449 | $ | 1,086 | $ | 339 | $ | 788 | $ | (73 | ) | $ | 5,490 | ||||||
Regulated natural gas | — | — | — | 233 | — | — | 233 | ||||||||||||||
Total operating revenues | 1,901 | 1,449 | 1,086 | 572 | 788 | (73 | ) | 5,723 | |||||||||||||
Operating Expenses | |||||||||||||||||||||
Fuel used in electric generation and purchased power - regulated | 578 | 575 | 457 | 115 | 294 | (78 | ) | 1,941 | |||||||||||||
Cost of natural gas | — | — | — | 97 | — | — | 97 | ||||||||||||||
Operation, maintenance and other | 476 | 368 | 183 | 112 | 179 | 2 | 1,320 | ||||||||||||||
Depreciation and amortization | 249 | 152 | 134 | 57 | 104 | 2 | 698 | ||||||||||||||
Property and other taxes | 70 | 32 | 80 | 70 | (1 | ) | (2 | ) | 249 | ||||||||||||
Total operating expenses | 1,373 | 1,127 | 854 | 451 | 576 | (76 | ) | 4,305 | |||||||||||||
Gains on Sales of Other Assets and Other, Net | — | — | — | 6 | — | 1 | 7 | ||||||||||||||
Operating Income | 528 | 322 | 232 | 127 | 212 | 4 | 1,425 | ||||||||||||||
Other Income and Expenses(a) | 42 | 20 | 6 | 3 | 5 | (4 | ) | 72 | |||||||||||||
Interest Expense | 102 | 60 | 49 | 20 | 45 | (1 | ) | 275 | |||||||||||||
Income from Continuing Operations Before Income Taxes | 468 | 282 | 189 | 110 | 172 | 1 | 1,222 | ||||||||||||||
Income Tax Expense | 168 | 95 | 73 | 40 | 62 | 10 | 448 | ||||||||||||||
Segment Income | $ | 300 | $ | 187 | $ | 116 | $ | 70 | $ | 110 | $ | (9 | ) | $ | 774 | ||||||
(a) | Includes an equity component of allowance for funds used during construction of $24 million for Duke Energy Carolinas, $13 million for Duke Energy Progress, $1 million for Duke Energy Florida, $1 million for Duke Energy Ohio, and $3 million for Duke Energy Indiana. |
7
REGULATED UTILITIES
Consolidating Segment Income
(Unaudited)
Three Months Ended March 31, 2014 (a) | |||||||||||||||||||||
(in millions) | Duke Energy Carolinas, LLC | Duke Energy Progress, Inc. | Duke Energy Florida, Inc. | Duke Energy Ohio, Inc. | Duke Energy Indiana, Inc. | Eliminations / Adjustments | Regulated Utilities | ||||||||||||||
Operating Revenues | |||||||||||||||||||||
Regulated electric | $ | 2,000 | $ | 1,422 | $ | 1,116 | $ | 339 | $ | 845 | $ | (139 | ) | $ | 5,583 | ||||||
Regulated natural gas | — | — | — | 223 | — | (1 | ) | 222 | |||||||||||||
Total operating revenues | 2,000 | 1,422 | 1,116 | 562 | 845 | (140 | ) | 5,805 | |||||||||||||
Operating Expenses | |||||||||||||||||||||
Fuel used in electric generation and purchased power - regulated | 646 | 570 | 470 | 124 | 339 | (149 | ) | 2,000 | |||||||||||||
Cost of natural gas | — | — | — | 99 | — | 1 | 100 | ||||||||||||||
Operation, maintenance and other | 465 | 368 | 203 | 106 | 162 | 2 | 1,306 | ||||||||||||||
Depreciation and amortization | 242 | 144 | 132 | 55 | 102 | 2 | 677 | ||||||||||||||
Property and other taxes | 104 | 67 | 84 | 66 | 23 | (1 | ) | 343 | |||||||||||||
Impairment charges | — | — | 1 | — | — | — | 1 | ||||||||||||||
Total operating expenses | 1,457 | 1,149 | 890 | 450 | 626 | (145 | ) | 4,427 | |||||||||||||
Gains on Sales of Other Assets and Other, Net | — | 1 | — | — | — | — | 1 | ||||||||||||||
Operating Income | 543 | 274 | 226 | 112 | 219 | 5 | 1,379 | ||||||||||||||
Other Income and Expenses (b) | 49 | 9 | 5 | 3 | 7 | (4 | ) | 69 | |||||||||||||
Interest Expense | 101 | 57 | 49 | 20 | 43 | — | 270 | ||||||||||||||
Income from Continuing Operations Before Income Taxes | 491 | 226 | 182 | 95 | 183 | 1 | 1,178 | ||||||||||||||
Income Tax Expense | 184 | 83 | 70 | 34 | 67 | 3 | 441 | ||||||||||||||
Segment Income | $ | 307 | $ | 143 | $ | 112 | $ | 61 | $ | 116 | $ | (2 | ) | $ | 737 | ||||||
(a) | Reflects reclassifications due to the impact of discontinued operations. |
(b) | Includes an equity component of allowance for funds used during construction of $22 million for Duke Energy Carolinas, $2 million for Duke Energy Progress, $1 million for Duke Energy Ohio, and $4 million for Duke Energy Indiana. |
8
REGULATED UTILITIES
Consolidating Balance Sheet - Assets
(Unaudited)
March 31, 2015 | |||||||||||||||||||||
(in millions) | Duke Energy Carolinas, LLC | Duke Energy Progress, Inc. | Duke Energy Florida, Inc. | Duke Energy Ohio, Inc. | Duke Energy Indiana, Inc. | Eliminations / Adjustments (a) | Regulated Utilities | ||||||||||||||
Current Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 30 | $ | 6 | $ | 10 | $ | 52 | $ | 16 | $ | (1 | ) | $ | 113 | ||||||
Receivables, net | 106 | 49 | 77 | 98 | 83 | 5 | 418 | ||||||||||||||
Restricted receivables of variable interest entities, net | 658 | 479 | 301 | — | — | 539 | 1,977 | ||||||||||||||
Receivables from affiliated companies | 91 | 4 | 60 | 91 | 25 | (166 | ) | 105 | |||||||||||||
Notes receivable from affiliated companies | 755 | 205 | — | 40 | 106 | (148 | ) | 958 | |||||||||||||
Inventory | 1,117 | 929 | 614 | 109 | 542 | — | 3,311 | ||||||||||||||
Regulatory assets | 376 | 267 | 124 | 16 | 88 | 22 | 893 | ||||||||||||||
Other | 41 | 99 | 350 | 45 | 240 | 21 | 796 | ||||||||||||||
Total current assets | 3,174 | 2,038 | 1,536 | 451 | 1,100 | 272 | 8,571 | ||||||||||||||
Investments and Other Assets | |||||||||||||||||||||
Investments in equity method unconsolidated affiliates | — | 1 | 2 | — | — | — | 3 | ||||||||||||||
Investments and advances to subsidiaries | 20 | 30 | 2 | — | — | 22 | 74 | ||||||||||||||
Nuclear decommissioning trust funds | 3,118 | 1,738 | 720 | — | — | — | 5,576 | ||||||||||||||
Goodwill | — | — | — | 920 | — | 15,030 | 15,950 | ||||||||||||||
Other | 996 | 450 | 269 | 32 | 252 | (28 | ) | 1,971 | |||||||||||||
Total investments and other assets | 4,134 | 2,219 | 993 | 952 | 252 | 15,024 | 23,574 | ||||||||||||||
Property, Plant and Equipment | |||||||||||||||||||||
Cost | 37,682 | 24,444 | 14,613 | 7,208 | 13,180 | 926 | 98,053 | ||||||||||||||
Accumulated depreciation and amortization | (12,935 | ) | (9,162 | ) | (4,545 | ) | (2,264 | ) | (4,314 | ) | (2 | ) | (33,222 | ) | |||||||
Generation facilities to be retired, net | — | — | — | 9 | — | — | 9 | ||||||||||||||
Net property, plant and equipment | 24,747 | 15,282 | 10,068 | 4,953 | 8,866 | 924 | 64,840 | ||||||||||||||
Regulatory Assets and Deferred Debits | |||||||||||||||||||||
Regulatory assets | 2,460 | 2,814 | 2,830 | 447 | 686 | 1,502 | 10,739 | ||||||||||||||
Other | 46 | 34 | 39 | 8 | 23 | (49 | ) | 101 | |||||||||||||
Total regulatory assets and deferred debits | 2,506 | 2,848 | 2,869 | 455 | 709 | 1,453 | 10,840 | ||||||||||||||
Total Assets | 34,561 | 22,387 | 15,466 | 6,811 | 10,927 | 17,673 | 107,825 | ||||||||||||||
Segment reclassifications, intercompany balances and other | (181 | ) | (473 | ) | (85 | ) | (29 | ) | 35 | (450 | ) | (1,183 | ) | ||||||||
Reportable Segment Assets | $ | 34,380 | $ | 21,914 | $ | 15,381 | $ | 6,782 | $ | 10,962 | $ | 17,223 | $ | 106,642 | |||||||
(a) | Includes the elimination of intercompany balances, purchase accounting adjustments and restricted receivables related to Cinergy Receivables Company. |
9
REGULATED UTILITIES
Consolidating Balance Sheet - Liabilities and Equity
(Unaudited)
March 31, 2015 | |||||||||||||||||||||
(in millions) | Duke Energy Carolinas, LLC | Duke Energy Progress, Inc. | Duke Energy Florida, Inc. | Duke Energy Ohio, Inc. | Duke Energy Indiana, Inc. | Eliminations / Adjustments (a) | Regulated Utilities | ||||||||||||||
Current Liabilities | |||||||||||||||||||||
Accounts payable | $ | 504 | $ | 363 | $ | 302 | $ | 221 | $ | 173 | $ | 2 | $ | 1,565 | |||||||
Accounts payable to affiliated companies | 198 | 183 | 85 | 11 | 2 | 12,629 | 13,108 | ||||||||||||||
Notes payable to affiliated companies | — | — | 192 | 4 | — | (150 | ) | 46 | |||||||||||||
Taxes accrued | 138 | 61 | 126 | 132 | 86 | 17 | 560 | ||||||||||||||
Interest accrued | 135 | 87 | 68 | 29 | 51 | (1 | ) | 369 | |||||||||||||
Current maturities of long-term debt | 506 | 702 | 562 | 56 | 5 | 96 | 1,927 | ||||||||||||||
Regulatory liabilities | 26 | 80 | 45 | 24 | 60 | — | 235 | ||||||||||||||
Other | 398 | 359 | 577 | 64 | 88 | (4 | ) | 1,482 | |||||||||||||
Total current liabilities | 1,905 | 1,835 | 1,957 | 541 | 465 | 12,589 | 19,292 | ||||||||||||||
Long-Term Debt | 8,079 | 5,255 | 4,296 | 1,525 | 3,636 | 2,364 | 25,155 | ||||||||||||||
Long-Term Debt Payable to Affiliated Companies | 300 | — | — | 25 | 150 | — | 475 | ||||||||||||||
Deferred Credits and Other Liabilities | |||||||||||||||||||||
Deferred income taxes | 5,919 | 2,966 | 2,484 | 1,351 | 1,656 | 40 | 14,416 | ||||||||||||||
Investment tax credits | 203 | 77 | — | 5 | 139 | — | 424 | ||||||||||||||
Accrued pension and other post-retirement benefit costs | 109 | 287 | 254 | 48 | 81 | (39 | ) | 740 | |||||||||||||
Asset retirement obligations | 3,460 | 3,936 | 803 | 26 | 33 | 238 | 8,496 | ||||||||||||||
Regulatory liabilities | 2,730 | 1,883 | 529 | 243 | 790 | 3 | 6,178 | ||||||||||||||
Other | 640 | 98 | 158 | 90 | 78 | 3 | 1,067 | ||||||||||||||
Total deferred credits and other liabilities | 13,061 | 9,247 | 4,228 | 1,763 | 2,777 | 245 | 31,321 | ||||||||||||||
Equity | 11,216 | 6,050 | 4,985 | 2,957 | 3,899 | 2,475 | 31,582 | ||||||||||||||
Total Liabilities and Equity | 34,561 | 22,387 | 15,466 | 6,811 | 10,927 | 17,673 | 107,825 | ||||||||||||||
Segment reclassifications, intercompany balances and other | (181 | ) | (473 | ) | (85 | ) | (29 | ) | 35 | (450 | ) | (1,183 | ) | ||||||||
Reportable Segment Liabilities and Equity | $ | 34,380 | $ | 21,914 | $ | 15,381 | $ | 6,782 | $ | 10,962 | $ | 17,223 | $ | 106,642 | |||||||
(a) | Includes the elimination of intercompany balances, purchase accounting adjustments and restricted receivables related to Cinergy Receivables Company. |
10
REGULATED UTILITIES
Operating Statistics (Regulated Utilities)
(Unaudited)
Three Months Ended March 31, | |||||
2015 | 2014 | ||||
Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
Coal | 20,961 | 25,665 | |||
Nuclear | 17,389 | 16,966 | |||
Hydro | 495 | 813 | |||
Oil and natural gas | 14,271 | 10,758 | |||
Renewable energy | 3 | 3 | |||
Total generation (b) | 53,119 | 54,205 | |||
Purchased power and net interchange (c) | 7,719 | 7,374 | |||
Total sources of energy | 60,838 | 61,579 | |||
Less: Line loss and company usage | 2,966 | 3,021 | |||
Total GWh Sources | 57,872 | 58,558 | |||
Electric Energy Sales (GWh) (d) | |||||
Residential | 24,030 | 24,193 | |||
General service | 18,282 | 18,147 | |||
Industrial | 12,264 | 12,055 | |||
Other energy and wholesale | 9,671 | 10,057 | |||
Change in unbilled | (1,046 | ) | (584 | ) | |
Total GWh Sales | 63,201 | 63,868 | |||
Owned MW Capacity (a) | |||||
Summer | 49,739 | 49,595 | |||
Winter | 52,994 | 52,951 | |||
Nuclear Capacity Factor (%) (e) | 94 | 95 | |||
(a) | Statistics reflect Duke Energy's ownership share of jointly owned stations. |
(b) | Generation by source is reported net of auxiliary power. |
(c) | Purchased power includes renewable energy purchases. |
(d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
(e) | Statistics reflect 100% of jointly owned stations. |
Note: Total GWh Sources will not equal Total GWh Sales. Sources include Duke Energy Kentucky's regulated generation for all periods. Sales include Duke Energy Ohio's and its subsidiary Duke Energy Kentucky's retail sales. Ohio retail sales are fulfilled through auction purchases under the current ESP.
11
REGULATED UTILITIES
Operating Statistics (Regulated Utilities)
(Unaudited)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
Residential | $ | 2,550 | $ | 2,556 | |||
General service | 1,493 | 1,513 | |||||
Industrial | 732 | 731 | |||||
Other energy and wholesale (a) | 655 | 656 | |||||
Change in unbilled | (107 | ) | (40 | ) | |||
Total Revenues | $ | 5,323 | $ | 5,416 | |||
Average Number of Customers (in thousands) | |||||||
Residential | 6,342 | 6,265 | |||||
General service | 948 | 939 | |||||
Industrial | 18 | 18 | |||||
Other energy and wholesale | 23 | 23 | |||||
Total Average Number of Customers | 7,331 | 7,245 | |||||
(a) | Net of Joint Dispatch Agreement intercompany sales. |
12
REGULATED UTILITIES
Operating Statistics (Duke Energy Carolinas)
(Unaudited)
Three Months Ended March 31, | |||||
2015 | 2014 | ||||
Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
Coal | 7,835 | 10,285 | |||
Nuclear | 11,316 | 11,406 | |||
Hydro | 257 | 500 | |||
Oil and natural gas | 2,233 | 1,345 | |||
Renewable energy | 3 | 3 | |||
Total generation (b) | 21,644 | 23,539 | |||
Purchased power and net interchange (c) | 2,122 | 1,515 | |||
Total sources of energy | 23,766 | 25,054 | |||
Less: Line loss and company usage | 1,298 | 1,361 | |||
Total GWh Sources | 22,468 | 23,693 | |||
Electric Energy Sales (GWh) (d) | |||||
Residential | 8,478 | 8,564 | |||
General service | 6,859 | 6,781 | |||
Industrial | 5,075 | 4,914 | |||
Other energy and wholesale | 2,545 | 3,615 | |||
Change in unbilled | (489 | ) | (181 | ) | |
Total GWh Sales | 22,468 | 23,693 | |||
Owned MW Capacity (a) | |||||
Summer | 19,645 | 19,770 | |||
Winter | 20,357 | 20,496 | |||
Nuclear Capacity Factor (%) (e) | 95 | 101 | |||
(a) | Statistics reflect Duke Energy Carolinas' ownership share of jointly owned stations. |
(b) | Generation by source is reported net of auxiliary power. |
(c) | Purchased power includes renewable energy purchases. |
(d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
(e) | Statistics reflect 100% of jointly owned stations. |
13
REGULATED UTILITIES
Operating Statistics (Duke Energy Carolinas)
(Unaudited)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
Residential | $ | 878 | $ | 883 | |||
General service | 533 | 541 | |||||
Industrial | 288 | 276 | |||||
Other energy and wholesale | 160 | 240 | |||||
Change in unbilled | (42 | ) | (14 | ) | |||
Total Revenues | $ | 1,817 | $ | 1,926 | |||
Average Number of Customers (in thousands) | |||||||
Residential | 2,109 | 2,082 | |||||
General service | 343 | 340 | |||||
Industrial | 6 | 7 | |||||
Other energy and wholesale | 15 | 14 | |||||
Total Average Number of Customers | 2,473 | 2,443 | |||||
14
REGULATED UTILITIES
Operating Statistics (Duke Energy Progress)
(Unaudited)
Three Months Ended March 31, | |||||
2015 | 2014 | ||||
Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
Coal | 4,004 | 4,877 | |||
Nuclear | 6,073 | 5,560 | |||
Hydro | 182 | 254 | |||
Oil and natural gas | 5,821 | 3,877 | |||
Total generation (b) | 16,080 | 14,568 | |||
Purchased power and net interchange (c) | 1,514 | 2,279 | |||
Total sources of energy | 17,594 | 16,847 | |||
Less: Line loss and company usage | 829 | 686 | |||
Total GWh Sources | 16,765 | 16,161 | |||
Electric Energy Sales (GWh) (d) | |||||
Residential | 5,767 | 5,580 | |||
General service | 3,749 | 3,641 | |||
Industrial | 2,437 | 2,381 | |||
Other energy and wholesale | 5,253 | 4,556 | |||
Change in unbilled | (441 | ) | 3 | ||
Total GWh Sales | 16,765 | 16,161 | |||
Owned MW Capacity (a) | |||||
Summer | 12,222 | 12,221 | |||
Winter | 13,319 | 13,334 | |||
Nuclear Capacity Factor (%) (e) | 92 | 85 | |||
(a) | Statistics reflect Duke Energy Progress' ownership share of jointly owned stations. |
(b) | Generation by source is reported net of auxiliary power. |
(c) | Purchased power includes renewable energy purchases. |
(d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
(e) | Statistics reflect 100% of jointly owned stations. |
15
REGULATED UTILITIES
Operating Statistics (Duke Energy Progress)
(Unaudited)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
Residential | $ | 593 | $ | 563 | |||
General service | 326 | 315 | |||||
Industrial | 159 | 157 | |||||
Other energy and wholesale | 351 | 350 | |||||
Change in unbilled | (26 | ) | 1 | ||||
Total Revenues | $ | 1,403 | $ | 1,386 | |||
Average Number of Customers (in thousands) | |||||||
Residential | 1,269 | 1,252 | |||||
General service | 224 | 222 | |||||
Industrial | 4 | 4 | |||||
Other energy and wholesale | 2 | 2 | |||||
Total Average Number of Customers | 1,499 | 1,480 | |||||
16
REGULATED UTILITIES
Operating Statistics (Duke Energy Florida)
(Unaudited)
Three Months Ended March 31, | |||||
2015 | 2014 | ||||
Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
Coal | 2,153 | 2,739 | |||
Oil and natural gas | 5,483 | 5,269 | |||
Total generation (b) | 7,636 | 8,008 | |||
Purchased power and net interchange (c) | 1,384 | 1,064 | |||
Total sources of energy | 9,020 | 9,072 | |||
Less: Line loss and company usage | 547 | 411 | |||
Total GWh Sources | 8,473 | 8,661 | |||
Electric Energy Sales (GWh) (d) | |||||
Residential | 4,104 | 4,051 | |||
General service | 3,235 | 3,248 | |||
Industrial | 760 | 801 | |||
Other energy and wholesale | 260 | 422 | |||
Change in unbilled | 114 | 139 | |||
Total GWh Sales | 8,473 | 8,661 | |||
Owned MW Capacity (a) | |||||
Summer | 9,154 | 9,072 | |||
Winter | 10,120 | 10,109 | |||
(a) | Statistics reflect Duke Energy Florida's ownership share of jointly owned stations. |
(b) | Generation by source is reported net of auxiliary power. |
(c) | Purchased power includes renewable energy purchases. |
(d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
17
REGULATED UTILITIES
Operating Statistics (Duke Energy Florida)
(Unaudited)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
Residential | $ | 556 | $ | 560 | |||
General service | 335 | 348 | |||||
Industrial | 69 | 74 | |||||
Other energy and wholesale | 126 | 113 | |||||
Change in unbilled | (9 | ) | 14 | ||||
Total Revenues | $ | 1,077 | $ | 1,109 | |||
Average Number of Customers (in thousands) | |||||||
Residential | 1,516 | 1,492 | |||||
General service | 193 | 191 | |||||
Industrial | 2 | 2 | |||||
Other energy and wholesale | 2 | 2 | |||||
Total Average Number of Customers | 1,713 | 1,687 | |||||
18
REGULATED UTILITIES
Operating Statistics (Duke Energy Ohio - Electric)
(Unaudited)
Three Months Ended March 31, | |||||
2015 | 2014 | ||||
Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
Coal | 1,220 | 787 | |||
Natural gas | 20 | 17 | |||
Total generation (b) | 1,240 | 804 | |||
Purchased power and net interchange (c) | 285 | 475 | |||
Total sources of energy | 1,525 | 1,279 | |||
Less: Line loss and company usage | 87 | 110 | |||
Total GWh Sources | 1,438 | 1,169 | |||
Electric Energy Sales (GWh) (d) | |||||
Residential | 2,681 | 2,779 | |||
General service | 2,363 | 2,372 | |||
Industrial | 1,448 | 1,436 | |||
Other energy and wholesale | 408 | 134 | |||
Change in unbilled | (133 | ) | (242 | ) | |
Total GWh Sales | 6,767 | 6,479 | |||
Owned MW Capacity (a) | |||||
Summer | 1,225 | 1,039 | |||
Winter | 1,327 | 1,141 | |||
(a) | Statistics reflect Duke Energy Ohio's ownership share of jointly owned stations. |
(b) | Generation by source is reported net of auxiliary power. |
(c) | Purchased power includes renewable energy purchases. |
(d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
Note: Total GWh Sources will not equal Total GWh Sales. Sources include only Duke Energy Kentucky's regulated generation for all periods. Sales include Duke Energy Ohio's and its subsidiary Duke Energy Kentucky's retail sales. Ohio retail sales are fulfilled through auction purchases under the current ESP.
19
REGULATED UTILITIES
Operating Statistics (Duke Energy Ohio - Electric)
(Unaudited)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
Residential | $ | 202 | $ | 204 | |||
General service | 109 | 110 | |||||
Industrial | 28 | 28 | |||||
Other energy and wholesale | 8 | 10 | |||||
Change in unbilled | (9 | ) | (14 | ) | |||
Total Revenues | $ | 338 | $ | 338 | |||
Average Number of Electric Customers (in thousands) | |||||||
Residential | 748 | 744 | |||||
General service | 87 | 86 | |||||
Industrial | 3 | 3 | |||||
Other energy and wholesale | 3 | 3 | |||||
Total Average Number of Customers | 841 | 836 | |||||
20
REGULATED UTILITIES
Operating Statistics (Duke Energy Ohio - Natural Gas)
(Unaudited)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
MCF Sales (a) | |||||||
Residential | 22,178,905 | 23,585,941 | |||||
General service | 13,071,081 | 13,692,491 | |||||
Industrial | 3,075,861 | 2,812,830 | |||||
Other energy and wholesale | 6,216,151 | 6,597,030 | |||||
Change in unbilled | (353,000 | ) | (2,467,000 | ) | |||
Total MCF Sales | 44,188,998 | 44,221,292 | |||||
Revenues from Distribution of Natural Gas (in millions) | |||||||
Residential | $ | 155 | $ | 150 | |||
General service | 67 | 65 | |||||
Industrial | 10 | 9 | |||||
Other energy and wholesale | 6 | 6 | |||||
Change in unbilled | (4 | ) | (9 | ) | |||
Total Revenues | $ | 234 | $ | 221 | |||
Average Number of Natural Gas Customers (in thousands) | |||||||
Residential | 478 | 476 | |||||
General service | 45 | 45 | |||||
Industrial | 2 | 2 | |||||
Total Average Number of Customers | 525 | 523 | |||||
(a) | Represents non-weather normalized billed sales, with gas delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
21
REGULATED UTILITIES
Operating Statistics (Duke Energy Indiana)
(Unaudited)
Three Months Ended March 31, | |||||
2015 | 2014 | ||||
Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
Coal | 5,749 | 6,977 | |||
Hydro | 56 | 59 | |||
Natural gas | 714 | 250 | |||
Total generation (b) | 6,519 | 7,286 | |||
Purchased power and net interchange (c) | 2,414 | 2,041 | |||
Total sources of energy | 8,933 | 9,327 | |||
Less: Line loss and company usage | 205 | 453 | |||
Total GWh Sources | 8,728 | 8,874 | |||
Electric Energy Sales (GWh) (d) | |||||
Residential | 3,000 | 3,219 | |||
General service | 2,076 | 2,105 | |||
Industrial | 2,544 | 2,523 | |||
Other energy and wholesale | 1,205 | 1,330 | |||
Change in unbilled | (97 | ) | (303 | ) | |
Total GWh Sales | 8,728 | 8,874 | |||
Owned MW Capacity (a) | |||||
Summer | 7,493 | 7,493 | |||
Winter | 7,871 | 7,871 | |||
(a) | Statistics reflect Duke Energy Indiana's ownership share of jointly owned stations. |
(b) | Generation by source is reported net of auxiliary power. |
(c) | Purchased power includes renewable energy purchases. |
(d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
22
REGULATED UTILITIES
Operating Statistics (Duke Energy Indiana)
(Unaudited)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
Residential | $ | 321 | $ | 346 | |||
General service | 190 | 199 | |||||
Industrial | 188 | 196 | |||||
Other energy and wholesale | 80 | 82 | |||||
Change in unbilled | (21 | ) | (27 | ) | |||
Total Revenues | $ | 758 | $ | 796 | |||
Average Number of Customers (in thousands) | |||||||
Residential | 700 | 696 | |||||
General service | 101 | 100 | |||||
Industrial | 3 | 3 | |||||
Other energy and wholesale | 1 | 1 | |||||
Total Average Number of Customers | 805 | 800 | |||||
23
DUKE ENERGY OHIO SUPPLEMENT
Consolidating Statement of Operations
(Unaudited)
Three Months Ended March 31, 2015 | ||||||||||||||||||
Regulated Utilities | Commercial Power (a) | Other | Duke Energy Ohio | |||||||||||||||
(in millions) | Ohio Transmission& Distribution | Duke Energy Kentucky | ||||||||||||||||
Operating Revenues | ||||||||||||||||||
Regulated electric | $ | 245 | $ | 94 | $ | — | $ | — | $ | 339 | ||||||||
Nonregulated electric, natural gas and other | — | — | 14 | — | 14 | |||||||||||||
Regulated natural gas | 178 | 55 | — | — | 233 | |||||||||||||
Total operating revenues | 423 | 149 | 14 | — | 586 | |||||||||||||
Operating Expenses | ||||||||||||||||||
Fuel used in electric generation and purchased power - regulated | 75 | 40 | — | — | 115 | |||||||||||||
Fuel used in electric generation and purchased power - nonregulated | — | — | 14 | — | 14 | |||||||||||||
Cost of natural gas and other | 69 | 28 | — | — | 97 | |||||||||||||
Operation, maintenance and other | 77 | 35 | 11 | 5 | 128 | |||||||||||||
Depreciation and amortization | 45 | 12 | — | — | 57 | |||||||||||||
Property and other taxes | 67 | 3 | 2 | (2 | ) | 70 | ||||||||||||
Total operating expenses | 333 | 118 | 27 | 3 | 481 | |||||||||||||
Gain on Sales of Other Assets and Other, net | 6 | — | — | — | 6 | |||||||||||||
Operating Income (Loss) | 96 | 31 | (13 | ) | (3 | ) | 111 | |||||||||||
Other Income and Expenses | 2 | 1 | (1 | ) | 1 | 3 | ||||||||||||
Interest Expense | 16 | 4 | — | — | 20 | |||||||||||||
Income (Loss) Before Income Taxes | 82 | 28 | (14 | ) | (2 | ) | 94 | |||||||||||
Income Tax Expense (Benefit) | 30 | 10 | (5 | ) | — | 35 | ||||||||||||
Segment Income (Loss) / Net Expense | $ | 52 | $ | 18 | $ | (9 | ) | $ | (2 | ) | $ | 59 | ||||||
Income from Discontinued Operations, Net of Tax(b) | 90 | |||||||||||||||||
Net Income | $ | 149 | ||||||||||||||||
(a) | Commercial Power includes OVEC, Beckjord Steam Station, costs related to MTEP and RTEP, and corporate allocations that were not classified as discontinued operations. |
(b) | See page 27 for details of Discontinued Operations related to the nonregulated Midwest generation disposal group. |
24
DUKE ENERGY OHIO SUPPLEMENT
Consolidating Statement of Operations
(Unaudited)
Three Months Ended March 31, 2014(a) | ||||||||||||||||||
Regulated Utilities | Commercial Power (b) | Other | Duke Energy Ohio | |||||||||||||||
(in millions) | Ohio Transmission & Distribution | Duke Energy Kentucky | ||||||||||||||||
Operating Revenues | ||||||||||||||||||
Regulated electric | $ | 239 | $ | 100 | $ | — | $ | — | $ | 339 | ||||||||
Nonregulated electric, natural gas and other | — | — | 13 | — | 13 | |||||||||||||
Regulated natural gas | 163 | 60 | — | — | 223 | |||||||||||||
Total operating revenues | 402 | 160 | 13 | — | 575 | |||||||||||||
Operating Expenses | ||||||||||||||||||
Fuel used in electric generation and purchased power - regulated | 70 | 54 | — | — | 124 | |||||||||||||
Fuel used in electric generation and purchased power - nonregulated | — | — | 13 | — | 13 | |||||||||||||
Cost of natural gas and other | 66 | 33 | — | — | 99 | |||||||||||||
Operation, maintenance and other | 72 | 34 | 18 | 3 | 127 | |||||||||||||
Depreciation and amortization | 44 | 11 | 2 | — | 57 | |||||||||||||
Property and other taxes | 63 | 3 | 1 | 1 | 68 | |||||||||||||
Impairment charges(c) | — | — | 94 | — | 94 | |||||||||||||
Total operating expenses | 315 | 135 | 128 | 4 | 582 | |||||||||||||
Operating Income (Loss) | 87 | 25 | (115 | ) | (4 | ) | (7 | ) | ||||||||||
Other Income and Expenses | 2 | 1 | — | — | 3 | |||||||||||||
Interest Expense | 16 | 4 | — | — | 20 | |||||||||||||
Income (Loss) before Income Taxes | 73 | 22 | (115 | ) | (4 | ) | (24 | ) | ||||||||||
Income Tax Expense (Benefit) | 26 | 8 | (41 | ) | (2 | ) | (9 | ) | ||||||||||
Segment Income (Loss) / Net Expense | $ | 47 | $ | 14 | $ | (74 | ) | $ | (2 | ) | $ | (15 | ) | |||||
Loss from Discontinued Operations, Net of Tax(d) | (875 | ) | ||||||||||||||||
Net Loss | $ | (890 | ) | |||||||||||||||
(a) | Reflects reclassifications due to the impact of discontinued operations. |
(b) | Commercial Power includes OVEC, Beckjord Steam Station, costs related to MTEP and RTEP, and corporate allocations that were not classified as discontinued operations. |
(c) | The amount for Commercial Power includes an impairment taken related to OVEC. |
(d) | See page 27 for details of Discontinued Operations related to the nonregulated Midwest generation disposal group. |
25
NONREGULATED MIDWEST GENERATION DISCONTINUED OPERATIONS SUPPLEMENT
Duke Energy Corporation
(Unaudited)
Three Months Ended March 31, | ||||||||
(in millions) | 2015 | 2014 | ||||||
Operating Revenues | $ | 543 | $ | 368 | ||||
Operating Expenses | ||||||||
Fuel used in electric generation and purchased power - nonregulated | 282 | 280 | ||||||
Cost of coal and other | 4 | 6 | ||||||
Operation, maintenance and other | 65 | 55 | ||||||
Depreciation and amortization | — | 35 | ||||||
Property and other taxes | 6 | 8 | ||||||
Impairment charges(a) | 43 | 1,287 | ||||||
Total operating expenses | 400 | 1,671 | ||||||
Gains on Sales of Other Assets and Other, net | 4 | — | ||||||
Income (Loss) before Income Taxes | 147 | (1,303 | ) | |||||
Income Tax Expense (Benefit) | 51 | (466 | ) | |||||
Income (Loss) from the Nonregulated Midwest Generation Disposal Group | $ | 96 | $ | (837 | ) | |||
Note: This schedule is a supplemental presentation of the components of Income (Loss) from Discontinued Operations, net of tax, as presented on pages 3 and 4. The amounts presented relate only to the nonregulated Midwest generation disposal group.
(a) | The first quarter 2015 impairment charge on the nonregulated Midwest generation business primarily relates to changes in the carrying value of mark-to-market positions. |
26
NONREGULATED MIDWEST GENERATION DISCONTINUED OPERATIONS SUPPLEMENT
Duke Energy Ohio
(Unaudited)
Three Months Ended March 31, | ||||||||
(in millions) | 2015 | 2014 | ||||||
Operating Revenues | $ | 412 | $ | 195 | ||||
Operating Expenses | ||||||||
Fuel used in electric generation and purchased power - nonregulated | 160 | 126 | ||||||
Cost of coal and other | 4 | 2 | ||||||
Operation, maintenance and other | 58 | 53 | ||||||
Depreciation and amortization | — | 35 | ||||||
Property and other taxes | 6 | 8 | ||||||
Impairment charges(a) | 44 | 1,323 | ||||||
Total operating expenses | 272 | 1,547 | ||||||
Gains on Sales of Other Assets and Other, net | 3 | — | ||||||
Operating Income (Loss) | 143 | (1,352 | ) | |||||
Interest Expense | 3 | 2 | ||||||
Income (Loss) before Income Taxes | 140 | (1,354 | ) | |||||
Income Tax Expense (Benefit) | 50 | (479 | ) | |||||
Income (Loss) from the Nonregulated Midwest Generation Disposal Group | $ | 90 | $ | (875 | ) | |||
Note: This schedule is a supplemental presentation of the components of Income (Loss) from Discontinued Operations, net of tax, as presented on pages 24 and 25. The amounts presented relate only to the nonregulated Midwest generation disposal group.
(a) | The first quarter 2015 impairment charge on the nonregulated Midwest generation business primarily relates to changes in the carrying value of mark-to-market positions. |
27