Quarterly Financial Data (Unaudited) |
QUARTERLY FINANCIAL DATA (UNAUDITED) DUKE ENERGY Quarterly EPS amounts may not sum to the full-year total due to changes in the weighted average number of common shares outstanding and rounding. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions, except per share data) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 6,135 |
| | $ | 5,643 |
| | $ | 6,628 |
| | $ | 6,115 |
| | $ | 24,521 |
| Operating income | 1,256 |
| | 979 |
| | 1,579 |
| | 871 |
| | 4,685 |
| Income from continuing operations | 622 |
| | 507 |
| | 1,062 |
| | 434 |
| | 2,625 |
| (Loss) Income from discontinued operations, net of tax | — |
| | (5 | ) | | 4 |
| | 20 |
| | 19 |
| Net income | 622 |
| | 502 |
| | 1,066 |
| | 454 |
| | 2,644 |
| Net income attributable to Duke Energy Corporation | 620 |
| | 500 |
| | 1,082 |
| | 464 |
| | 2,666 |
| Earnings per share: | | | | | | | | | | Income from continuing operations attributable to Duke Energy Corporation common stockholders | | | | | | | | | | Basic | $ | 0.88 |
| | $ | 0.72 |
| | $ | 1.51 |
| | $ | 0.62 |
| | $ | 3.73 |
| Diluted | $ | 0.88 |
| | $ | 0.72 |
| | $ | 1.51 |
| | $ | 0.62 |
| | $ | 3.73 |
| (Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders | | | | | | | | | | Basic | $ | — |
| | $ | (0.01 | ) | | $ | — |
| | $ | 0.03 |
| | $ | 0.03 |
| Diluted | $ | — |
| | $ | (0.01 | ) | | $ | — |
| | $ | 0.03 |
| | $ | 0.03 |
| Net income attributable to Duke Energy Corporation common stockholders | | | | | | | | | | Basic | $ | 0.88 |
| | $ | 0.71 |
| | $ | 1.51 |
| | $ | 0.65 |
| | $ | 3.76 |
| Diluted | $ | 0.88 |
| | $ | 0.71 |
| | $ | 1.51 |
| | $ | 0.65 |
| | $ | 3.76 |
| 2017 | | | | | | | | | | Operating revenues | $ | 5,729 |
| | $ | 5,555 |
| | $ | 6,482 |
| | $ | 5,799 |
| | $ | 23,565 |
| Operating income | 1,402 |
| | 1,353 |
| | 1,661 |
| | 1,209 |
| | 5,625 |
| Income from continuing operations | 717 |
| | 691 |
| | 957 |
| | 705 |
| | 3,070 |
| Loss from discontinued operations, net of tax | — |
| | (2 | ) | | (2 | ) | | (2 | ) | | (6 | ) | Net income | 717 |
| | 689 |
| | 955 |
| | 703 |
| | 3,064 |
| Net income attributable to Duke Energy Corporation | 716 |
| | 686 |
| | 954 |
| | 703 |
| | 3,059 |
| Earnings per share: | | | | | | | | | | Income from continuing operations attributable to Duke Energy Corporation common stockholders | | | | | | | | | | Basic | $ | 1.02 |
| | $ | 0.98 |
| | $ | 1.36 |
| | $ | 1.00 |
| | $ | 4.37 |
| Diluted | $ | 1.02 |
| | $ | 0.98 |
| | $ | 1.36 |
| | $ | 1.00 |
| | $ | 4.37 |
| Loss from discontinued operations attributable to Duke Energy Corporation common stockholders | | | | | | | | | | Basic | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | (0.01 | ) | Diluted | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | (0.01 | ) | Net income attributable to Duke Energy Corporation common stockholders | | | | | | | | | | Basic | $ | 1.02 |
| | $ | 0.98 |
| | $ | 1.36 |
| | $ | 1.00 |
| | $ | 4.36 |
| Diluted | $ | 1.02 |
| | $ | 0.98 |
| | $ | 1.36 |
| | $ | 1.00 |
| | $ | 4.36 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (17 | ) | | $ | (20 | ) | | $ | (16 | ) | | $ | (31 | ) | | $ | (84 | ) | Regulatory and Legislative Impacts (see Note 4) | (86 | ) | | (179 | ) | | — |
| | — |
| | (265 | ) | Sale of Retired Plant (see Note 3) | (107 | ) | | — |
| | — |
| | — |
| | (107 | ) | Impairment Charges (see Notes 4, 11 and 12) | (55 | ) | | — |
| | (93 | ) | | (60 | ) | | (208 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (187 | ) | | (187 | ) | Impacts of the Tax Act (see Note 23) | (76 | ) | | — |
| | 3 |
| | 53 |
| | (20 | ) | Total | $ | (341 | ) | | $ | (199 | ) | | $ | (106 | ) | | $ | (225 | ) | | $ | (871 | ) | 2017 | | | | | | | | | |
| Costs to Achieve Mergers (see Note 2) | $ | (16 | ) | | $ | (30 | ) | | $ | (23 | ) | | $ | (34 | ) | | $ | (103 | ) | Regulatory Settlements (see Note 4) | — |
| | — |
| | (135 | ) | | (23 | ) | | (158 | ) | Commercial Renewables Impairments (see Notes 10 and 11) | — |
| | — |
| | (84 | ) | | (18 | ) | | (102 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | 102 |
| | 102 |
| Total | $ | (16 | ) | | $ | (30 | ) | | $ | (242 | ) | | $ | 27 |
| | $ | (261 | ) |
DUKE ENERGY CAROLINAS | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 1,763 |
| | $ | 1,672 |
| | $ | 2,090 |
| | $ | 1,775 |
| | $ | 7,300 |
| Operating income | 482 |
| | 224 |
| | 713 |
| | 241 |
| | 1,660 |
| Net income | 323 |
| | 117 |
| | 496 |
| | 135 |
| | 1,071 |
| 2017 | | | | | | | | | | Operating revenues | $ | 1,716 |
| | $ | 1,729 |
| | $ | 2,136 |
| | $ | 1,721 |
| | $ | 7,302 |
| Operating income | 471 |
| | 471 |
| | 763 |
| | 384 |
| | 2,089 |
| Net income | 270 |
| | 273 |
| | 466 |
| | 205 |
| | 1,214 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (4 | ) | | $ | (2 | ) | | $ | (2 | ) |
| $ | (1 | ) | | $ | (9 | ) | Regulatory and Legislative Impacts (see Note 4) | (19 | ) | | (179 | ) | | — |
| | — |
| | (198 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (102 | ) | | (102 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Total | $ | (23 | ) | | $ | (181 | ) | | $ | (3 | ) | | $ | (103 | ) | | $ | (310 | ) | 2017 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (4 | ) | | $ | (6 | ) | | $ | (5 | ) | | $ | (5 | ) | | $ | (20 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | (15 | ) | | (15 | ) | Total | $ | (4 | ) | | $ | (6 | ) | | $ | (5 | ) | | $ | (20 | ) | | $ | (35 | ) |
PROGRESS ENERGY | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 2,576 |
| | $ | 2,498 |
| | $ | 3,045 |
| | $ | 2,609 |
| | $ | 10,728 |
| Operating income | 447 |
| | 484 |
| | 663 |
| | 334 |
| | 1,928 |
| Net income | 237 |
| | 267 |
| | 406 |
| | 123 |
| | 1,033 |
| Net income attributable to Parent | 235 |
| | 265 |
| | 404 |
| | 123 |
| | 1,027 |
| 2017 | | | | | | | | | | Operating revenues | $ | 2,179 |
| | $ | 2,392 |
| | $ | 2,864 |
| | $ | 2,348 |
| | $ | 9,783 |
| Operating income | 471 |
| | 576 |
| | 641 |
| | 459 |
| | 2,147 |
| Net income | 201 |
| | 277 |
| | 343 |
| | 447 |
| | 1,268 |
| Net income attributable to Parent | 199 |
| | 274 |
| | 341 |
| | 444 |
| | 1,258 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (4 | ) | | $ | (3 | ) | | $ | (1 | ) | | $ | (2 | ) | | $ | (10 | ) | Regulatory and Legislative Impacts (see Note 4) | (67 | ) | | — |
| | — |
| | — |
| | (67 | ) | Impairment Charges (see Note 4) | — |
| | — |
| | — |
| | (60 | ) | | (60 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (69 | ) | | (69 | ) | Impacts of the Tax Act (see Note 23) | (1 | ) | | — |
| | (5 | ) | | (19 | ) | | (25 | ) | Total | $ | (72 | ) | | $ | (3 | ) | | $ | (6 | ) | | $ | (150 | ) | | $ | (231 | ) | 2017 | | | | | | | | | |
| Costs to Achieve Piedmont Merger (see Note 2) | $ | (4 | ) | | $ | (7 | ) | | $ | (6 | ) | | $ | (6 | ) | | $ | (23 | ) | Regulatory Settlements (see Note 4) | — |
| | — |
| | (135 | ) | | (23 | ) | | (158 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | 246 |
| | 246 |
| Total | $ | (4 | ) | | $ | (7 | ) | | $ | (141 | ) | | $ | 217 |
| | $ | 65 |
|
DUKE ENERGY PROGRESS | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 1,460 |
| | $ | 1,291 |
| | $ | 1,582 |
| | $ | 1,366 |
| | $ | 5,699 |
| Operating income | 269 |
| | 233 |
| | 330 |
| | 227 |
| | 1,059 |
| Net income | 177 |
| | 139 |
| | 216 |
| | 135 |
| | 667 |
| 2017 | | | | | | | | | | Operating revenues | $ | 1,219 |
| | $ | 1,199 |
| | $ | 1,460 |
| | $ | 1,251 |
| | $ | 5,129 |
| Operating income | 274 |
| | 270 |
| | 398 |
| | 243 |
| | 1,185 |
| Net income | 147 |
| | 154 |
| | 246 |
| | 168 |
| | 715 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (2 | ) | | $ | (2 | ) | | $ | (1 | ) | | $ | (1 | ) | | $ | (6 | ) | Regulatory and Legislative Impacts (see Note 4) | (67 | ) | | — |
| | — |
| | — |
| | (67 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (52 | ) | | (52 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | (4 | ) | | (15 | ) | | (19 | ) | Total | $ | (69 | ) |
| $ | (2 | ) |
| $ | (5 | ) |
| $ | (68 | ) |
| $ | (144 | ) | 2017 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (2 | ) | | $ | (4 | ) | | $ | (4 | ) | | $ | (4 | ) | | $ | (14 | ) | Regulatory Settlements (see Note 4) | — |
| | — |
| | — |
| | (23 | ) | | (23 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | 40 |
| | 40 |
| Total | $ | (2 | ) | | $ | (4 | ) | | $ | (4 | ) | | $ | 13 |
| | $ | 3 |
|
DUKE ENERGY FLORIDA | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 1,115 |
| | $ | 1,203 |
| | $ | 1,462 |
| | $ | 1,241 |
| | $ | 5,021 |
| Operating income | 173 |
| | 245 |
| | 331 |
| | 107 |
| | 856 |
| Net income | 103 |
| | 168 |
| | 243 |
| | 40 |
| | 554 |
| 2017 | | | | | | | | | | Operating revenues | $ | 959 |
| | $ | 1,191 |
| | $ | 1,401 |
| | $ | 1,095 |
| | $ | 4,646 |
| Operating income | 192 |
| | 301 |
| | 236 |
| | 212 |
| | 941 |
| Net income | 90 |
| | 158 |
| | 120 |
| | 344 |
| | 712 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (2 | ) | | $ | (1 | ) | | $ | — |
| | $ | (1 | ) | | $ | (4 | ) | Impairment Charges (see Note 4) | — |
| | — |
| | — |
| | (60 | ) | | (60 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (17 | ) | | (17 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | (2 | ) | | 2 |
| | — |
| Total | $ | (2 | ) | | $ | (1 | ) | | $ | (2 | ) | | $ | (76 | ) | | $ | (81 | ) | 2017 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (2 | ) | | $ | (3 | ) | | $ | (2 | ) | | $ | (2 | ) | | $ | (9 | ) | Regulatory Settlements (see Note 4) | — |
| | — |
| | (135 | ) | | — |
| | (135 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | 226 |
| | 226 |
| Total | $ | (2 | ) | | $ | (3 | ) | | $ | (137 | ) | | $ | 224 |
| | $ | 82 |
|
DUKE ENERGY OHIO | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 524 |
| | $ | 459 |
| | $ | 469 |
| | $ | 505 |
| | $ | 1,957 |
| Operating (loss) income | (21 | ) | | 77 |
| | 139 |
| | 93 |
| | 288 |
| Net (loss) income | (25 | ) | | 46 |
| | 100 |
| | 55 |
| | 176 |
| 2017 | | | | | | | | | | Operating revenues | $ | 518 |
| | $ | 437 |
| | $ | 471 |
| | $ | 497 |
| | $ | 1,923 |
| Operating income | 82 |
| | 64 |
| | 101 |
| | 73 |
| | 320 |
| Loss from discontinued operations, net of tax | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net income | 42 |
| | 30 |
| | 55 |
| | 65 |
| | 192 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (3 | ) | | $ | (5 | ) | | $ | — |
| | $ | (6 | ) | | $ | (14 | ) | Sale of Retired Plant (see Note 3) | (107 | ) | | — |
| | — |
| | — |
| | (107 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (6 | ) | | (6 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | (2 | ) | | (2 | ) | Total | $ | (110 | ) | | $ | (5 | ) | | $ | — |
| | $ | (14 | ) | | $ | (129 | ) | 2017 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (1 | ) | | $ | (1 | ) | | $ | (2 | ) | | $ | (2 | ) | | $ | (6 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | 23 |
| | 23 |
| Total | $ | (1 | ) | | $ | (1 | ) | | $ | (2 | ) | | $ | 21 |
| | $ | 17 |
|
DUKE ENERGY INDIANA | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 731 |
| | $ | 738 |
| | $ | 819 |
| | $ | 771 |
| | $ | 3,059 |
| Operating income | 168 |
| | 169 |
| | 173 |
| | 133 |
| | 643 |
| Net income | 100 |
| | 98 |
| | 119 |
| | 76 |
| | 393 |
| 2017 | | | | | | | | | | Operating revenues | $ | 758 |
| | $ | 742 |
| | $ | 802 |
| | $ | 745 |
| | $ | 3,047 |
| Operating income | 184 |
| | 208 |
| | 228 |
| | 166 |
| | 786 |
| Net income | 91 |
| | 106 |
| | 121 |
| | 36 |
| | 354 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | — |
| | $ | — |
| | $ | (2 | ) | | $ | — |
| | $ | (2 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (7 | ) | | (7 | ) | Total | $ | — |
| | $ | — |
| | $ | (2 | ) | | $ | (7 | ) | | $ | (9 | ) | 2017 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (1 | ) | | $ | (2 | ) | | $ | (2 | ) | | $ | (1 | ) | | $ | (6 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | (55 | ) | | (55 | ) | Total | $ | (1 | ) | | $ | (2 | ) | | $ | (2 | ) | | $ | (56 | ) | | $ | (61 | ) |
PIEDMONT | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Operating revenues | $ | 553 |
| | $ | 215 |
| | $ | 172 |
| | $ | 435 |
| | $ | 1,375 |
| Operating income (loss) | 161 |
| | 5 |
| | (19 | ) | | 79 |
| | 226 |
| Net income (loss) | 110 |
| | (8 | ) | | (21 | ) | | 48 |
| | 129 |
| 2017 | | | | | | | | | | Operating revenues | $ | 500 |
| | $ | 201 |
| | $ | 183 |
| | $ | 444 |
| | $ | 1,328 |
| Operating income (loss) | 170 |
| | 5 |
| | (4 | ) | | 126 |
| | 297 |
| Net income (loss) | 95 |
| | (8 | ) | | (11 | ) | | 63 |
| | 139 |
|
The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. | | | | | | | | | | | | | | | | | | | | | | First |
| | Second |
| | Third |
| | Fourth |
| | | (in millions) | Quarter |
| | Quarter |
| | Quarter |
| | Quarter |
| | Total |
| 2018 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (6 | ) | | $ | (9 | ) | | $ | (11 | ) | | $ | (22 | ) | | $ | (48 | ) | Severance Charges (see Note 20) | — |
| | — |
| | — |
| | (2 | ) | | (2 | ) | Total | $ | (6 | ) | | $ | (9 | ) | | $ | (11 | ) | | $ | (24 | ) | | $ | (50 | ) | 2017 | | | | | | | | | | Costs to Achieve Piedmont Merger (see Note 2) | $ | (6 | ) | | $ | (13 | ) | | $ | (8 | ) | | $ | (19 | ) | | $ | (46 | ) | Impacts of the Tax Act (see Note 23) | — |
| | — |
| | — |
| | 2 |
| | 2 |
| Total | $ | (6 | ) | | $ | (13 | ) | | $ | (8 | ) | | $ | (17 | ) | | $ | (44 | ) |
|