EX-99.1 2 a13-18991_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

2nd Quarter 2013 Statistical Supplement

 



 

CONTENTS

 

2

DUKE ENERGY CORPORATION

 

 

 

2

Consolidating Statement of Operations

 

4

Consolidating Balance Sheet - Assets

 

5

Consolidating Balance Sheet - Liabilities and Equity

 

 

 

6

U.S. FRANCHISED ELECTRIC AND GAS

 

 

 

 

6

Consolidating Segment Income

 

8

Consolidating Balance Sheet - Assets

 

9

Consolidating Balance Sheet - Liabilities and Equity

 

10

Operating Statistics (Duke Energy Carolinas)

 

12

Operating Statistics (Duke Energy Progress)

 

14

Operating Statistics (Duke Energy Florida)

 

16

Operating Statistics (Duke Energy Ohio - Electric)

 

18

Operating Statistics (Duke Energy Ohio - Gas)

 

19

Operating Statistics (Duke Energy Indiana)

 

 

 

21

COMMERCIAL POWER

 

 

 

 

21

Commercial Power Operating Statistics

 

 

 

22

INTERNATIONAL ENERGY

 

 

 

 

22

International Energy Operating Statistics

 

 

 

23

APPENDIX

 

 

 

 

23

Duke Energy Ohio Supplement

 



 

DUKE ENERGY CORPORATION

Consolidating Statement of Operations

(Unaudited)

 

 

 

Six Months Ended June 30, 2013

 

 

 

U.S. Franchised

 

Commercial

 

International

 

 

 

Eliminations/

 

 

 

(in millions)

 

Electric and Gas

 

Power

 

Energy

 

Other

 

Adjustments

 

Duke Energy

 

Operating Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulated electric (a)

 

$

9,700

 

$

57

 

$

 

$

28

 

$

(62

)

$

9,723

 

Nonregulated electric, natural gas, and other

 

 

952

 

798

 

43

 

(18

)

1,775

 

Regulated natural gas

 

280

 

 

 

 

(1

)

279

 

Total operating revenues

 

9,980

 

1,009

 

798

 

71

 

(81

)

11,777

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel used in electric generation and purchased power - regulated

 

3,381

 

 

 

 

 

3,381

 

Fuel used in electric generation and purchased power - nonregulated

 

 

632

 

267

 

21

 

(19

)

901

 

Cost of natural gas and coal sold

 

93

 

19

 

35

 

 

 

147

 

Operation, maintenance and other

 

2,422

 

239

 

175

 

151

 

(62

)

2,925

 

Depreciation and amortization

 

1,092

 

125

 

50

 

71

 

 

1,338

 

Property and other taxes

 

630

 

26

 

6

 

4

 

 

666

 

Impairment charges (b)

 

387

 

 

 

(1

)

 

386

 

Total operating expenses

 

8,005

 

1,041

 

533

 

246

 

(81

)

9,744

 

Gains (Losses) on Sales of Other Assets and Other, Net

 

6

 

1

 

 

(4

)

 

3

 

Operating Income (Loss)

 

1,981

 

(31

)

265

 

(179

)

 

2,036

 

Other Income and Expenses

 

109

 

11

 

47

 

19

 

 

186

 

Interest Expense

 

478

 

32

 

38

 

200

 

 

748

 

Income (Loss) from Continuing Operations before Income Taxes

 

1,612

 

(52

)

274

 

(360

)

 

1,474

 

Income Tax Expense (Benefit)

 

603

 

(51

)

84

 

(141

)

 

495

 

Income (Loss) from Continuing Operations

 

1,009

 

(1

)

190

 

(219

)

 

979

 

Less: Net Income (Loss) Attributable to Non-controlling Interest

 

 

 

6

 

(3

)

 

3

 

Segment Income (Loss)/Net Expense from Continuing Operations Attributable to Duke Energy Corporation

 

$

1,009

 

$

(1

)

$

184

 

$

(216

)

$

 

$

976

 

Loss from Discontinued Operations, Net of Tax

 

 

 

 

 

 

 

 

 

 

 

(3

)

Net Income Attributable to Duke Energy Corporation

 

 

 

 

 

 

 

 

 

 

 

$

973

 

 


(a) The amount for Commercial Power is primarily due to stability charge revenues included in Duke Energy Ohio’s current Electric Stability Plan (ESP).

(b) The amount for USFE&G is primarily comprised of a $295 million charge related to the agreement to forego recovery of a portion of the Cyrstal River Unit 3 regulatory asset, a $65 million charge to write-off the wholesale portion of the Levy investments and a $22 million charge at Duke Energy Progress resulting from the decision to suspend application of two proposed nuclear units at the Harris nuclear station.

 

2



 

DUKE ENERGY CORPORATION

Consolidating Statement of Operations

(Unaudited)

 

 

 

Six Months Ended June 30, 2012

 

 

 

U.S. Franchised

 

Commercial

 

International

 

 

 

Eliminations/

 

 

 

(in millions)

 

Electric and Gas

 

Power

 

Energy

 

Other

 

Adjustments

 

Duke Energy

 

Operating Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulated electric (a)

 

$

5,112

 

$

54

 

$

 

$

1

 

$

(38

)

$

5,129

 

Nonregulated electric, natural gas, and other

 

 

1,028

 

799

 

30

 

(31

)

1,826

 

Regulated natural gas

 

253

 

 

 

 

(1

)

252

 

Total operating revenues

 

5,365

 

1,082

 

799

 

31

 

(70

)

7,207

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel used in electric generation and purchased power - regulated

 

1,626

 

 

 

 

 

1,626

 

Fuel used in electric generation and purchased power - nonregulated

 

 

612

 

258

 

 

(26

)

844

 

Cost of natural gas and coal sold

 

87

 

21

 

36

 

 

 

144

 

Operation, maintenance and other

 

1,306

 

222

 

157

 

(31

)

(46

)

1,608

 

Depreciation and amortization

 

730

 

114

 

48

 

61

 

1

 

954

 

Property and other taxes

 

330

 

21

 

3

 

 

1

 

355

 

Impairment charges (b)

 

402

 

 

 

 

 

402

 

Total operating expenses

 

4,481

 

990

 

502

 

30

 

(70

)

5,933

 

Gains on Sales of Other Assets and Other, Net

 

7

 

1

 

 

(1

)

 

7

 

Operating Income

 

891

 

93

 

297

 

 

 

1,281

 

Other Income and Expenses

 

124

 

25

 

90

 

(1

)

 

238

 

Interest Expense

 

289

 

41

 

37

 

89

 

 

456

 

Income (Loss) from Continuing Operations before Income Taxes

 

726

 

77

 

350

 

(90

)

 

1,063

 

Income Tax Expense (Benefit)

 

253

 

18

 

95

 

(49

)

 

317

 

Income (Loss) from Continuing Operations

 

473

 

59

 

255

 

(41

)

 

746

 

Less: Net Income Attributable to Non-controlling Interest

 

 

 

8

 

 

 

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Income/Net Expense from Continuing Operations Attributable to Duke Energy Corporation

 

$

473

 

$

59

 

$

247

 

$

(41

)

$

 

$

738

 

Income from Discontinued Operations, Net of Tax

 

 

 

 

 

 

 

 

 

 

 

1

 

Net Income Attributable to Duke Energy Corporation

 

 

 

 

 

 

 

 

 

 

 

$

739

 

 


(a) The amount for Commercial Power is primarily due to stability charge revenues included in Duke Energy Ohio’s current Electric Stability Plan (ESP).

(b) The amount for USFE&G is primarily due to a $400 million non-cash impairment charge related to the Edwardsport IGCC project.

 

Note: Does not include Progress Energy activity as the merger closed on July 2, 2012.

 

3



 

DUKE ENERGY CORPORATION

Consolidating Balance Sheet - Assets

(Unaudited)

 

 

 

June 30, 2013

 

 

 

U.S. Franchised

 

Commercial

 

International

 

 

 

Eliminations/

 

 

 

(in millions)

 

Electric and Gas

 

Power

 

Energy

 

Other

 

Adjustments

 

Duke Energy

 

Current Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

70

 

$

4

 

$

1,287

 

$

210

 

$

 

$

1,571

 

Short-term investments

 

 

 

280

 

 

 

280

 

Receivables, net

 

1,206

 

102

 

227

 

58

 

 

1,593

 

Restricted receivables of variable interest entities, net

 

1,198

 

37

 

 

 

 

1,235

 

Receivables from affiliated companies

 

298

 

679

 

149

 

12,290

 

(13,416

)

 

Notes receivable from affiliated companies

 

178

 

 

 

744

 

(922

)

 

Inventory

 

2,919

 

125

 

74

 

12

 

 

3,130

 

Other

 

1,361

 

250

 

46

 

454

 

(45

)

2,066

 

Total current assets

 

7,230

 

1,197

 

2,063

 

13,768

 

(14,383

)

9,875

 

Investments and Other Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in equity method unconsolidated affiliates

 

4

 

262

 

72

 

170

 

 

508

 

Investments and advances to (from) subsidiaries

 

82

 

(7

)

(14

)

42,520

 

(42,581

)

 

Nuclear decommissioning trust funds

 

4,567

 

 

 

 

 

4,567

 

Goodwill

 

15,950

 

64

 

331

 

 

 

16,345

 

Intangibles, net

 

75

 

221

 

53

 

1

 

 

350

 

Notes receivable

 

6

 

 

60

 

452

 

(450

)

68

 

Restricted other assets of variable interest entities

 

 

57

 

 

 

 

57

 

Other

 

1,450

 

64

 

341

 

597

 

(40

)

2,412

 

Total investments and other assets

 

22,134

 

661

 

843

 

43,740

 

(43,071

)

24,307

 

Property, Plant and Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost

 

89,593

 

4,874

 

3,658

 

1,536

 

 

99,661

 

Cost, variable interest entities

 

16

 

1,650

 

 

 

 

1,666

 

Accumulated depreciation and amortization

 

(29,822

)

(965

)

(955

)

(769

)

 

(32,511

)

Generation facilities to be retired, net

 

61

 

 

 

 

 

61

 

Net property, plant and equipment

 

59,848

 

5,559

 

2,703

 

767

 

 

68,877

 

Regulatory Assets and Deferred Debits

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulatory Assets

 

10,254

 

67

 

 

543

 

 

10,864

 

Other

 

94

 

40

 

6

 

37

 

 

177

 

Total regulatory assets and deferred debits

 

10,348

 

107

 

6

 

580

 

 

11,041

 

Total Assets

 

99,560

 

7,524

 

5,615

 

58,855

 

(57,454

)

114,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment reclassifications, intercompany balances and other adjustments

 

(652

)

(617

)

(135

)

(56,192

)

57,596

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reportable Segment Assets

 

$

98,908

 

$

6,907

 

$

5,480

 

$

2,663

 

$

142

 

$

114,100

 

 

4



 

DUKE ENERGY CORPORATION

Consolidating Balance Sheet - Liabilities and Equity

(Unaudited)

 

 

 

June 30, 2013

 

 

 

U.S. Franchised

 

Commercial

 

International

 

 

 

Eliminations/

 

 

 

(in millions)

 

Electric and Gas

 

Power

 

Energy

 

Other

 

Adjustments

 

Duke Energy

 

Current Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,548

 

$

136

 

$

32

 

$

220

 

$

 

$

1,936

 

Accounts payable to affiliated companies

 

12,701

 

29

 

5

 

628

 

(13,363

)

 

Notes payable to affiliated companies

 

500

 

336

 

 

128

 

(964

)

 

Notes payable and commercial paper

 

 

 

 

1,501

 

 

1,501

 

Non-recourse notes payable of variable interest entities

 

325

 

 

 

 

 

325

 

Taxes accrued (prepaid)

 

395

 

(85

)

53

 

190

 

 

553

 

Interest accrued

 

287

 

 

40

 

124

 

 

451

 

Current maturities of long-term debt

 

915

 

83

 

169

 

1,056

 

 

2,223

 

Other

 

1,885

 

106

 

86

 

1,008

 

(59

)

3,026

 

Total current liabilities

 

18,556

 

605

 

385

 

4,855

 

(14,386

)

10,015

 

Long-term Debt

 

24,716

 

398

 

904

 

10,082

 

 

36,100

 

Non-recourse Long-term Debt of Variable Interest Entities

 

300

 

959

 

 

 

 

1,259

 

Notes Payable to Affiliated Companies

 

450

 

 

 

 

(450

)

 

Deferred Credits and Other Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred income taxes

 

11,481

 

1,223

 

229

 

(2,104

)

 

10,829

 

Investment tax credits

 

450

 

 

 

 

 

450

 

Accrued pension and other post-retirement benefit costs

 

1,784

 

49

 

1

 

576

 

(37

)

2,373

 

Asset retirement obligations

 

5,243

 

40

 

1

 

 

 

5,284

 

Regulatory Liabilities

 

5,479

 

 

 

4

 

 

5,483

 

Other

 

1,487

 

116

 

59

 

446

 

(2

)

2,106

 

Total deferred credits and other liabilities

 

25,924

 

1,428

 

290

 

(1,078

)

(39

)

26,525

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Duke Energy Corporation shareholders’ equity

 

29,614

 

4,120

 

3,977

 

45,000

 

(42,579

)

40,132

 

Noncontrolling interests

 

 

14

 

59

 

(4

)

 

69

 

Total equity

 

29,614

 

4,134

 

4,036

 

44,996

 

(42,579

)

40,201

 

Total Liabilities and Equity

 

99,560

 

7,524

 

5,615

 

58,855

 

(57,454

)

114,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment reclassifications, intercompany balances and other adjustments

 

(652

)

(617

)

(135

)

(56,192

)

57,596

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reportable Segment Liabilities and Equity

 

$

98,908

 

$

6,907

 

$

5,480

 

$

2,663

 

$

142

 

$

114,100

 

 

 

5



 

U.S. FRANCHISED ELECTRIC AND GAS

Consolidating Segment Income

(Unaudited)

 

 

 

Six Months Ended June 30, 2013

 

 

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Eliminations/

 

U.S. Franchised

 

(in millions)

 

Carolinas, LLC

 

Progress, Inc.

 

Florida, Inc.

 

Ohio, Inc.

 

Indiana, Inc.

 

Adjustments

 

Electic and Gas

 

Operating Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulated electric

 

$

3,307

 

$

2,338

 

$

2,110

 

$

616

 

$

1,424

 

$

(95

)

$

9,700

 

Regulated natural gas

 

 

 

 

280

 

 

 

280

 

Total operating revenues

 

3,307

 

2,338

 

2,110

 

896

 

1,424

 

(95

)

9,980

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel used in electric generation and purchased power - regulated

 

950

 

886

 

883

 

206

 

569

 

(113

)

3,381

 

Cost of natural gas

 

 

 

 

93

 

 

 

93

 

Operation, maintenance and other

 

863

 

655

 

389

 

226

 

300

 

(11

)

2,422

 

Depreciation and amortization

 

448

 

250

 

142

 

99

 

155

 

(2

)

1,092

 

Property and other taxes

 

192

 

113

 

164

 

122

 

38

 

1

 

630

 

Impairment charges (a)

 

 

22

 

345

 

 

 

20

 

387

 

Total operating expenses

 

2,453

 

1,926

 

1,923

 

746

 

1,062

 

(105

)

8,005

 

Gains on Sales of Other Assets and Other, Net

 

2

 

 

1

 

4

 

 

(1

)

6

 

Operating Income

 

856

 

412

 

188

 

154

 

362

 

9

 

1,981

 

Other Income and Expenses (b)

 

65

 

22

 

13

 

3

 

10

 

(4

)

109

 

Interest Expense

 

173

 

95

 

92

 

33

 

84

 

1

 

478

 

Income from Continuing Operations before Income Taxes

 

748

 

339

 

109

 

124

 

288

 

4

 

1,612

 

Income Tax Expense

 

280

 

132

 

44

 

44

 

108

 

(5

)

603

 

Segment Income From Continuing Operations Attributable to Duke Energy Corporation

 

$

468

 

$

207

 

$

65

 

$

80

 

$

180

 

$

9

 

$

1,009

 

 


(a)

Includes $387 million of impairment charges primarily comprised of a $295 million charge related to the agreement to forego recovery of a portion of the Cyrstal River Unit 3 regulatory asset, a $65 million charge to write-off the wholesale portion of the Levy investments and a $22 million charge at Duke Energy Progress resulting from the decision to suspend application of two proposed nuclear units at the Harris nuclear station.

(b)

Primarily due to an equity component of allowance for funds used during construction of $47 million for Duke Energy Carolinas, $23 million for Duke Energy Progress, $4 million for Duke Energy Florida and $7 million for Duke Energy Indiana.

 

6



 

U.S. FRANCHISED ELECTRIC AND GAS

Consolidating Segment Income

(Unaudited)

 

 

 

Six Months Ended June 30, 2012

 

 

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Eliminations/

 

U.S. Franchised

 

(in millions)

 

Carolinas, LLC

 

Ohio, Inc.

 

Indiana, Inc.

 

Adjustments

 

Electric and Gas

 

Operating Revenues

 

 

 

 

 

 

 

 

 

 

 

Regulated electric

 

$

3,117

 

$

607

 

$

1,373

 

$

15

 

$

5,112

 

Regulated natural gas

 

 

253

 

 

 

253

 

Total operating revenues

 

3,117

 

860

 

1,373

 

15

 

5,365

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

Fuel used in electric generation and purchased power - regulated

 

822

 

234

 

570

 

 

1,626

 

Cost of natural gas

 

 

87

 

 

 

87

 

Operation, maintenance and other

 

782

 

218

 

304

 

2

 

1,306

 

Depreciation and amortization

 

454

 

83

 

192

 

1

 

730

 

Property and other taxes

 

179

 

114

 

38

 

(1

)

330

 

Impairment charges (a)

 

 

 

400

 

2

 

402

 

Total operating expenses

 

2,237

 

736

 

1,504

 

4

 

4,481

 

Gains on Sales of Other Assets and Other, Net

 

6

 

1

 

 

 

7

 

Operating Income (Loss)

 

886

 

125

 

(131

)

11

 

891

 

Other Income and Expenses (b)

 

83

 

5

 

43

 

(7

)

124

 

Interest Expense

 

189

 

29

 

70

 

1

 

289

 

Income (Loss) from Continuing Operations before Income Taxes

 

780

 

101

 

(158

)

3

 

726

 

Income Tax Expense (Benefit)

 

284

 

37

 

(73

)

5

 

253

 

Segment Income (Loss) From Continuing Opearations Attributable to Duke Energy Corporation

 

$

496

 

$

64

 

$

(85

)

$

(2

)

$

473

 

 


(a)

The amount for USFE&G is primarily due to a $400 million non-cash impairment charge related to the Edwardsport IGCC project.

(b)

Primarily due to an equity component of allowance for funds used during construction of $74 million for Carolinas, $3 million for Ohio and $39 million for Indiana, respectively.

 

Note: Does not include Progress Energy activity as the merger closed on July 2, 2012.

 

7



 

U.S. FRANCHISED ELECTRIC AND GAS

Consolidating Balance Sheet - Assets

(Unaudited)

 

 

 

June 30, 2013

 

 

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Eliminations/

 

U.S. Franchised

 

(in millions)

 

Carolinas, LLC

 

Progress, Inc.

 

Florida, Inc.

 

Ohio, Inc.

 

Indiana, Inc.

 

Adjustments (a)

 

Electic and Gas

 

Current Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

13

 

$

20

 

$

18

 

$

11

 

$

8

 

$

 

$

70

 

Receivables, net

 

155

 

523

 

402

 

93

 

32

 

1

 

1,206

 

Restricted receivables of variable interest entities, net

 

669

 

 

 

 

 

529

 

1,198

 

Receivables from affiliated companies

 

89

 

195

 

30

 

182

 

110

 

(308

)

298

 

Notes receivable from affiliated companies

 

215

 

 

 

24

 

21

 

(82

)

178

 

Inventory

 

1,063

 

805

 

569

 

84

 

397

 

1

 

2,919

 

Other

 

417

 

358

 

318

 

74

 

160

 

34

 

1,361

 

Total current assets

 

2,621

 

1,901

 

1,337

 

468

 

728

 

175

 

7,230

 

Investment and Other Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in equity method unconsolidated affiliates

 

1

 

1

 

2

 

 

 

 

4

 

Investments and advances to subsidiaries

 

73

 

 

 

1

 

 

8

 

82

 

Nuclear decommissioning trust funds

 

2,533

 

1,360

 

674

 

 

 

 

4,567

 

Goodwill

 

 

 

 

920

 

 

15,030

 

15,950

 

Intangibles, net

 

12

 

6

 

21

 

2

 

35

 

(1

)

75

 

Notes receivable

 

3

 

 

 

 

 

3

 

6

 

Other

 

933

 

274

 

150

 

38

 

121

 

(66

)

1,450

 

Total investments and other assets

 

3,555

 

1,641

 

847

 

961

 

156

 

14,974

 

22,134

 

Property, Plant and Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost

 

34,534

 

21,574

 

13,555

 

6,676

 

12,213

 

1,041

 

89,593

 

Cost, variable interest entities

 

 

16

 

 

 

 

 

16

 

Accumulated depreciation and amortization

 

(11,502

)

(8,379

)

(4,130

)

(2,042

)

(3,768

)

(1

)

(29,822

)

Generation facilities to be retired, net

 

 

61

 

 

 

 

 

61

 

Net property, plant and equipment

 

23,032

 

13,272

 

9,425

 

4,634

 

8,445

 

1,040

 

59,848

 

Regulatory Assets and Deferred Debits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulatory Assets

 

1,836

 

1,862

 

3,167

 

521

 

769

 

2,099

 

10,254

 

Other

 

47

 

32

 

46

 

8

 

23

 

(62

)

94

 

Total regulatory assets and deferred debits

 

1,883

 

1,894

 

3,213

 

529

 

792

 

2,037

 

10,348

 

Total Assets

 

31,091

 

18,708

 

14,822

 

6,592

 

10,121

 

18,226

 

99,560

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment reclassifications, intercompany balances and other adjustments

 

(182

)

(117

)

28

 

(24

)

(36

)

(321

)

(652

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reportable Segment Assets

 

$

30,909

 

$

18,591

 

$

14,850

 

$

6,568

 

$

10,085

 

$

17,905

 

$

98,908

 

 


(a)           In addition to the elimination of intercompany balances, amounts include purchase accounting adjustments and restricted receivables related to Cinergy Receivables Company.

 

8



 

U.S. FRANCHISED ELECTRIC AND GAS

Consolidating Balance Sheet - Liabilities and Equity

(Unaudited)

 

 

 

June 30, 2013

 

 

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Duke Energy

 

Eliminations/

 

U.S. Franchised

 

(in millions)

 

Carolinas, LLC

 

Progress, Inc.

 

Florida, Inc.

 

Ohio, Inc.

 

Indiana, Inc.

 

Adjustments (a)

 

Electric And Gas

 

Current Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

487

 

$

382

 

$

392

 

$

150

 

$

134

 

$

3

 

$

1,548

 

Accounts payable to affiliated companies

 

115

 

56

 

8

 

2

 

16

 

12,504

 

12,701

 

Notes payable to affiliated companies

 

 

257

 

11

 

272

 

 

(40

)

500

 

Non-recourse notes payable of variable interest entities

 

 

 

 

 

 

325

 

325

 

Taxes accrued

 

113

 

62

 

175

 

(5

)

52

 

(2

)

395

 

Interest accrued

 

99

 

75

 

45

 

13

 

55

 

 

287

 

Current maturities of long-term debt

 

406

 

407

 

11

 

8

 

5

 

78

 

915

 

Other

 

437

 

451

 

774

 

86

 

136

 

1

 

1,885

 

Total current liabilities

 

1,657

 

1,690

 

1,416

 

526

 

398

 

12,869

 

18,556

 

Long-term Debt

 

7,734

 

4,929

 

4,881

 

1,338

 

3,546

 

2,288

 

24,716

 

Non-recourse Long-term Debt of Variable Interest Entities

 

300

 

 

 

 

 

 

300

 

Notes Payable to Affiliated Companies

 

300

 

 

 

 

150

 

 

450

 

Deferred Credits and Other Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred income taxes

 

5,501

 

2,305

 

1,567

 

1,102

 

971

 

35

 

11,481

 

Investment tax credits

 

213

 

88

 

2

 

6

 

141

 

 

450

 

Accrued pension and other post-retirement benefit costs

 

212

 

729

 

610

 

126

 

183

 

(76

)

1,784

 

Asset retirement obligations

 

2,021

 

1,689

 

774

 

23

 

37

 

699

 

5,243

 

Regulatory Liabilities

 

2,223

 

1,564

 

669

 

260

 

755

 

8

 

5,479

 

Other

 

882

 

251

 

214

 

91

 

51

 

(2

)

1,487

 

Total deferred credits and other liabilities

 

11,052

 

6,626

 

3,836

 

1,608

 

2,138

 

664

 

25,924

 

Equity

 

10,048

 

5,463

 

4,689

 

3,120

 

3,889

 

2,405

 

29,614

 

Total Liabilities and Equity

 

31,091

 

18,708

 

14,822

 

6,592

 

10,121

 

18,226

 

99,560

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment reclassifications, intercompany balances and other adjustments

 

(182

)

(117

)

28

 

(24

)

(36

)

(321

)

(652

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reportable Segment Liabilities and Equity

 

$

30,909

 

$

18,591

 

$

14,850

 

$

6,568

 

$

10,085

 

$

17,905

 

$

98,908

 

 


(a)           In addition to the elimination of intercompany balances, amounts include purchase accounting adjustments and notes payable related to Cinergy Receivables Company.

 

9



 

FRANCHISED ELECTRIC - DUKE ENERGY CAROLINAS

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Sources of Electric Energy (GWh)

 

 

 

 

 

Generated - net output (a):

 

 

 

 

 

Coal

 

14,475

 

12,399

 

Nuclear

 

22,021

 

21,882

 

Hydro

 

1,151

 

560

 

Oil & gas

 

4,245

 

2,369

 

Renewable Energy

 

7

 

5

 

Total generation (b)

 

41,899

 

37,215

 

Purchased power (c) and net interchange

 

3,167

 

4,251

 

Total sources of energy

 

45,066

 

41,466

 

Less: Line loss and company usage

 

2,618

 

2,431

 

Total GWh Sources

 

42,448

 

39,035

 

 

 

 

 

 

 

Electric Energy Sales (GWh)

 

 

 

 

 

Residential

 

13,523

 

12,561

 

General service

 

13,303

 

13,146

 

Industrial

 

10,140

 

10,270

 

Other energy and wholesale

 

5,456

 

2,617

 

Total GWh sales billed

 

42,422

 

38,594

 

Change in unbilled

 

26

 

441

 

Total GWh Sales

 

42,448

 

39,035

 

 

 

 

 

 

 

Total Capability - Owned MW (a)

 

 

 

 

 

Summer

 

19,698

 

19,208

 

Winter

 

20,410

 

19,913

 

 

 

 

 

 

 

Nuclear Capacity Factor (%) (d)

 

98

 

94

 

 


(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) Statistics reflect 100% of jointly owned stations.

 

10



 

FRANCHISED ELECTRIC - DUKE ENERGY CAROLINAS

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Revenues from Generation, Transmission and Distribution of Electricity (in millions)

 

 

 

 

 

Residential

 

$

1,330

 

$

1,259

 

General service

 

1,022

 

1,011

 

Industrial

 

536

 

562

 

Other energy and wholesale

 

297

 

175

 

Total billed

 

3,185

 

3,007

 

Change in unbilled

 

4

 

54

 

Total Revenues

 

$

3,189

 

$

3,061

 

 

 

 

 

 

 

Average Number of Customers (in thousands)

 

 

 

 

 

Residential

 

2,063

 

2,050

 

General service

 

338

 

336

 

Industrial

 

7

 

7

 

Other energy and wholesale

 

15

 

14

 

Total Average Number of Customers

 

2,423

 

2,407

 

 

11



 

FRANCHISED ELECTRIC - DUKE ENERGY PROGRESS

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Sources of Electric Energy (GWh)

 

 

 

 

 

Generated - net output (a):

 

 

 

 

 

Coal

 

6,799

 

10,150

 

Nuclear

 

11,478

 

9,759

 

Hydro

 

563

 

390

 

Gas

 

7,452

 

5,045

 

Oil

 

40

 

64

 

Total generation (b)

 

26,332

 

25,408

 

Purchased power (c) and net interchange

 

3,547

 

2,378

 

Total sources of energy

 

29,879

 

27,786

 

Less: Line loss and company usage

 

1,123

 

1,152

 

Total GWh Sources

 

28,756

 

26,634

 

 

 

 

 

 

 

Electric Energy Sales (GWh)

 

 

 

 

 

Residential

 

8,771

 

7,979

 

General service

 

7,157

 

7,152

 

Industrial

 

5,108

 

5,112

 

Other energy and wholesale

 

7,733

 

6,326

 

Total GWh sales billed

 

28,769

 

26,569

 

Change in unbilled

 

(13

)

65

 

Total GWh Sales

 

28,756

 

26,634

 

 

 

 

 

 

 

Total Capability - Owned MW (a) 

 

 

 

 

 

Summer

 

12,231

 

12,261

 

Winter

 

13,240

 

13,191

 

 

 

 

 

 

 

Nuclear Capacity Factor (%) (d)

 

86

 

75

 

 


(a) Statistics include 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) Statistics reflect 100% of jointly owned stations.

 

12



 

FRANCHISED ELECTRIC - DUKE ENERGY PROGRESS

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Revenues from Generation, Transmission and Distribution of Electricity (in millions)

 

 

 

 

 

Residential

 

$

871

 

$

810

 

General service

 

600

 

603

 

Industrial

 

321

 

331

 

Other energy and wholesale

 

462

 

347

 

Total billed

 

2,254

 

2,091

 

Change in unbilled

 

10

 

9

 

Total Revenues

 

$

2,264

 

$

2,100

 

 

 

 

 

 

 

Average Number of Customers (in thousands)

 

 

 

 

 

Residential

 

1,239

 

1,229

 

General service

 

221

 

219

 

Industrial

 

4

 

4

 

Other energy and wholesale

 

2

 

2

 

Total Average Number of Customers

 

1,466

 

1,454

 

 

13



 

FRANCHISED ELECTRIC - DUKE ENERGY FLORIDA

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Sources of Electric Energy (GWh)

 

 

 

 

 

Generated - net output (a):

 

 

 

 

 

Coal

 

5,288

 

5,089

 

Gas

 

10,195

 

11,131

 

Oil

 

137

 

55

 

Total generation (b)

 

15,620

 

16,275

 

Purchased power (c) and net interchange

 

3,551

 

3,417

 

Total sources of energy

 

19,171

 

19,692

 

Less: Line loss and company usage

 

1,302

 

1,343

 

Total GWh Sources

 

17,869

 

18,349

 

 

 

 

 

 

 

Electric Energy Sales (GWh)

 

 

 

 

 

Residential

 

8,235

 

8,230

 

General service

 

6,918

 

7,079

 

Industrial

 

1,582

 

1,565

 

Other energy and wholesale

 

670

 

782

 

Total GWh sales billed

 

17,405

 

17,656

 

Change in unbilled

 

464

 

693

 

Total GWh Sales

 

17,869

 

18,349

 

 

 

 

 

 

 

Total Capability - Owned MW (a) 

 

 

 

 

 

Summer

 

9,095

 

9,948

 

Winter

 

10,191

 

10,983

 

 


(a) Statistics reflect Duke Energy Florida’s ownership share of jointly owned stations.  2012 capacity includes Crystal River Unit 3.

(b) Generation by source is reported net of auxiliary power.

(c) Purchased Power includes Renewable Energy purchases.

 

14



 

FRANCHISED ELECTRIC - DUKE ENERGY FLORIDA

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

Revenues from Generation, Transmission and Distribution of Electricity (in millions)

 

 

 

 

 

Residential

 

$

1,026

 

$

1,083

 

General service

 

649

 

726

 

Industrial

 

129

 

143

 

Other energy and wholesale

 

272

 

209

 

Total billed

 

2,076

 

2,161

 

Change in unbilled

 

21

 

33

 

Total Revenues

 

$

2,097

 

$

2,194

 

 

 

 

 

 

 

Average Number of Customers (in thousands)

 

 

 

 

 

Residential

 

1,477

 

1,462

 

General service

 

189

 

187

 

Industrial

 

2

 

2

 

Other energy and wholesale

 

2

 

2

 

Total Average Number of Customers

 

1,670

 

1,653

 

 

15



 

FRANCHISED ELECTRIC - DUKE ENERGY OHIO ELECTRIC

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

Sources of Electric Energy (GWh)

 

 

 

 

 

Generated - net output (a):

 

 

 

 

 

Coal

 

1,701

 

1,343

 

Total generation (b)

 

1,701

 

1,343

 

Purchased power (c) and net interchange

 

617

 

846

 

Total sources of energy

 

2,318

 

2,189

 

Less: Line loss and company usage

 

133

 

97

 

Total GWh Sources

 

2,185

 

2,092

 

 

 

 

 

 

 

Electric Energy Sales (GWh)

 

 

 

 

 

Residential

 

4,335

 

4,039

 

General service

 

4,565

 

4,498

 

Industrial

 

2,819

 

2,828

 

Other energy and wholesale

 

275

 

204

 

Total GWh sales billed

 

11,994

 

11,569

 

Change in unbilled

 

(16

)

227

 

Total GWh Sales

 

11,978

 

11,796

 

 

 

 

 

 

 

Total Capability - Owned MW (a) 

 

 

 

 

 

Summer

 

1,039

 

1,039

 

Winter

 

1,141

 

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.

 

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 Duke Energy Kentucky’s retail sales.  Ohio retail sales are fulfilled through auction purchases under the current ESP.

 

16



 

FRANCHISED ELECTRIC - DUKE ENERGY OHIO ELECTRIC

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

Revenues from Generation, Transmission and Distribution of Electricity (in millions)

 

 

 

 

 

Residential

 

$

332

 

$

305

 

General service

 

204

 

205

 

Industrial

 

53

 

50

 

Other energy and wholesale

 

11

 

8

 

Total billed

 

600

 

568

 

Change in unbilled

 

1

 

30

 

Total Revenues

 

$

601

 

$

598

 

 

 

 

 

 

 

Average Number of Electric Customers (in thousands)

 

 

 

 

 

Residential

 

737

 

735

 

General service

 

86

 

86

 

Industrial

 

3

 

2

 

Other energy and wholesale

 

3

 

3

 

Total Average Number of Electric Customers

 

829

 

826

 

 

17



 

FRANCHISED GAS - DUKE ENERGY OHIO GAS

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

MCF Sales

 

 

 

 

 

Residential

 

26,620,497

 

20,359,013

 

General service

 

15,799,582

 

12,377,532

 

Industrial

 

3,688,976

 

2,923,763

 

Other energy and wholesale

 

10,888,315

 

11,399,541

 

Total MCF sales billed

 

56,997,370

 

47,059,849

 

Change in unbilled

 

(4,915,000

)

(3,910,000

)

Total MCF Sales

 

52,082,370

 

43,149,849

 

 

 

 

 

 

 

Revenues from Distribution of Gas (in millions)

 

 

 

 

 

Residential

 

$

197

 

$

184

 

General service

 

81

 

71

 

Industrial

 

12

 

9

 

Other energy and wholesale

 

9

 

9

 

Total billed

 

299

 

273

 

Change in unbilled

 

(19

)

(20

)

Total Revenues

 

$

280

 

$

253

 

 

 

 

 

 

 

Average Number of Gas Customers (in thousands)

 

 

 

 

 

Residential

 

471

 

470

 

General service

 

44

 

44

 

Industrial

 

2

 

2

 

Total Average Number of Gas Customers

 

517

 

516

 

 

18



 

FRANCHISED ELECTRIC - DUKE ENERGY INDIANA

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

Sources of Electric Energy (GWh)

 

 

 

 

 

Generated - net output (a):

 

 

 

 

 

Coal

 

12,189

 

11,883

 

Hydro

 

161

 

169

 

Gas

 

464

 

678

 

Total generation (b)

 

12,814

 

12,730

 

Purchased power (c) and net interchange

 

3,773

 

4,449

 

Total sources of energy

 

16,587

 

17,179

 

Less: Line loss and company usage

 

145

 

418

 

Total GWh Sources

 

16,442

 

16,761

 

 

 

 

 

 

 

Electric Energy Sales (GWh)

 

 

 

 

 

Residential

 

4,727

 

4,310

 

General service

 

4,033

 

3,994

 

Industrial

 

5,097

 

5,184

 

Other energy and wholesale

 

2,652

 

3,043

 

Total GWh sales billed

 

16,509

 

16,531

 

Change in unbilled

 

(67

)

230

 

Total GWh Sales

 

16,442

 

16,761

 

 

 

 

 

 

 

Total Capability - Owned MW (a) 

 

 

 

 

 

Summer

 

7,516

 

6,898

 

Winter

 

7,858

 

7,240

 

 


(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.

 

19



 

FRANCHISED ELECTRIC - DUKE ENERGY INDIANA

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

Revenues from Generation, Transmission and Distribution of Electricity (in millions)

 

 

 

 

 

Residential

 

$

502

 

$

453

 

General service

 

362

 

347

 

Industrial

 

364

 

354

 

Other energy and wholesale

 

159

 

132

 

Total billed

 

1,387

 

1,286

 

Change in unbilled

 

(3

)

28

 

Total Revenues

 

$

1,384

 

$

1,314

 

 

 

 

 

 

 

Average Number of Customers (in thousands)

 

 

 

 

 

Residential

 

689

 

683

 

General service

 

100

 

100

 

Industrial

 

3

 

3

 

Other energy and wholesale

 

1

 

1

 

Total Average Number of Customers

 

793

 

787

 

 

20



 

COMMERCIAL POWER

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Generation (GWh)

 

 

 

 

 

Coal

 

8,734

 

7,367

 

Gas

 

7,238

 

9,096

 

Renewables

 

2,820

 

1,784

 

Actual plant generation

 

18,792

 

18,247

 

 

 

 

 

 

 

Net proportional megawatt capacity in operation

 

8,127

 

7,757

 

 

21



 

INTERNATIONAL ENERGY

Operating Statistics

(Unaudited)

 

 

 

Six Months Ended June 30,

 

 

 

2013

 

2012

 

Sales, GWh

 

9,682

 

9,956

 

Net proportional megawatt capacity in operation

 

4,584

 

4,225

 

 

22



 

DUKE ENERGY OHIO SUPPLEMENT

Consolidated Statement of Operations

(Unaudited)

 

 

 

Six Months Ended June 30, 2013

 

 

 

Franchised Electric and Gas

 

 

 

 

 

 

 

 

 

Ohio

 

 

 

 

 

 

 

 

 

 

 

Transmission &

 

Duke Energy

 

Commercial 

 

 

 

 

 

(in millions)

 

Distribution

 

Kentucky, Inc.

 

Power

 

Other

 

Consolidated

 

Operating Revenues

 

 

 

 

 

 

 

 

 

 

 

Regulated electric (a)

 

$

445

 

$

171

 

$

56

 

$

 

$

672

 

Nonregulated electric and other

 

 

 

625

 

(19

)

606

 

Regulated natural gas

 

219

 

61

 

 

 

280

 

Total operating revenues

 

664

 

232

 

681

 

(19

)

1,558

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

Fuel used in electric generation and purchased power - regulated

 

137

 

69

 

 

 

206

 

Fuel used in electric generation and purchased power - nonregulated

 

 

 

481

 

(19

)

462

 

Cost of natural gas sold

 

65

 

28

 

 

 

93

 

Operation, maintenance and other

 

163

 

63

 

157

 

14

 

397

 

Depreciation and amortization

 

77

 

22

 

78

 

 

177

 

Property and other taxes

 

115

 

7

 

14

 

 

136

 

Total operating expenses

 

557

 

189

 

730

 

(5

)

1,471

 

Gains on Sales of Other Assets and Other, Net

 

 

4

 

1

 

(1

)

4

 

Operating Income (Loss)

 

107

 

47

 

(48

)

(15

)

91

 

Other Income and Expenses

 

2

 

1

 

1

 

(1

)

3

 

Interest Expense

 

25

 

8

 

3

 

 

36

 

Income (Loss) before Income Taxes

 

84

 

40

 

(50

)

(16

)

58

 

Income Tax Expense (Benefit)

 

30

 

14

 

(17

)

(6

)

21

 

Net Income (Loss)

 

$

54

 

$

26

 

$

(33

)

$

(10

)

$

37

 

 


(a) The amount for Commercial Power is primarily due to stability charge revenues included in Duke Energy Ohio’s current Electric Stability Plan (ESP).

 

23



 

DUKE ENERGY OHIO SUPPLEMENT

Consolidated Statement of Operations

(Unaudited)

 

 

 

Six Months Ended June 30, 2012

 

 

 

Franchised Electric and Gas

 

 

 

 

 

 

 

 

 

Ohio

 

 

 

 

 

 

 

 

 

 

 

Transmission &

 

Duke Energy

 

Commercial 

 

 

 

 

 

(in millions)

 

Distribution

 

Kentucky, Inc.

 

Power

 

Other

 

Consolidated

 

Operating Revenues

 

 

 

 

 

 

 

 

 

 

 

Regulated electric (a)

 

$

445

 

$

162

 

$

53

 

$

 

$

660

 

Nonregulated electric and other

 

 

 

743

 

(27

)

716

 

Regulated natural gas

 

202

 

51

 

 

 

253

 

Total operating revenues

 

647

 

213

 

796

 

(27

)

1,629

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

Fuel used in electric generation and purchased power - regulated

 

172

 

62

 

 

 

234

 

Fuel used in electric generation and purchased power - nonregulated

 

 

 

442

 

(27

)

415

 

Cost of natural gas sold

 

65

 

22

 

 

 

87

 

Operation, maintenance and other

 

156

 

62

 

146

 

7

 

371

 

Depreciation and amortization

 

61

 

22

 

80

 

 

163

 

Property and other taxes

 

108

 

6

 

14

 

 

128

 

Total operating expenses

 

562

 

174

 

682

 

(20

)

1,398

 

Gains on Sales of Other Assets and Other, Net

 

1

 

 

1

 

 

2

 

Operating Income (Loss)

 

86

 

39

 

115

 

(7

)

233

 

Other Income and Expenses

 

4

 

1

 

3

 

 

8

 

Interest Expense

 

20

 

9

 

19

 

1

 

49

 

Income (Loss) before Income Taxes

 

70

 

31

 

99

 

(8

)

192

 

Income Tax Expense (Benefit)

 

26

 

11

 

38

 

(2

)

73

 

Net Income (Loss)

 

$

44

 

$

20

 

$

61

 

$

(6

)

$

119

 

 


(a) The amount for Commercial Power is primarily due to stability charge revenues included in Duke Energy Ohio’s current Electric Stability Plan (ESP).

 

24