Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Selected Quarterly Financial Information Disclosure [Line Items]

Quarterly financial data (Unaudited)

24.QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized quarterly financial data was as follows:

Progress Energy
(in millions except per share data)			First		Second		Third		Fourth
2011
Operating revenues			$	2,167	$	2,256	$	2,747	$	1,737
Operating income				451		428		690		19
Income (loss) from continuing operations				187		180		293		(73)
Net income (loss)				185		178		293		(74)
Net income (loss) attributable to controlling interests				184		176		291		(76)
Common stock data
	Basic and diluted earnings per common share
		Income (loss) from continuing operations attributable to controlling interests, net of tax		0.63		0.60		0.98		(0.25)
		Net income (loss) attributable to controlling interests		0.62		0.60		0.98		(0.25)
Dividends declared per common share				0.620		0.620		0.620		0.259
Market price per share
	High			46.83		49.03		52.42		56.33
	Low			42.55		45.20		42.05		49.37
2010
Operating revenues			$	2,535	$	2,372	$	2,962	$	2,321
Operating income				494		440		753		367
Income from continuing operations				191		181		365		130
Net income				190		180		365		128
Net income attributable to controlling interests				190		180		361		125
Common stock data
	Basic and diluted earnings per common share
		Income from continuing operations attributable to controlling interests, net of tax		0.67		0.62		1.23		0.43
		Net income attributable to controlling interests		0.67		0.62		1.23		0.42
Dividends declared per common share				0.620		0.620		0.620		0.620
Market price per share
	High			41.35		40.69		44.82		45.61
	Low			37.04		37.13		38.96		43.08

In the opinion of management, all adjustments necessary to fairly present amounts shown for interim periods have been made.Results of operations for an interim period may not give a true indication of results for the year.Typically, weather conditions in our service territories directly influence the demand for electricity and affect the price of energy commodities necessary to provide electricity to our customers.As a result, our overall operating results may fluctuate substantially on a seasonal basis.

In the third quarter of 2011, we determined the fair value of the CVOs based on the purchase price in a negotiated settlement agreement. As a result, we recognized $50 million of expense, net of tax, related to the change in the CVOs' fair market value. See Note 16 for additional information.

During the fourth quarter of 2011, we recorded $288 million to be refunded to customers through the fuel clause in accordance with the 2012 settlement agreement. This was recognized as a reduction in operating revenues. See Note 8C for additional information.

PEC

Summarized quarterly financial data was as follows:

(in millions)	First		Second		Third		Fourth
2011
Operating revenues	$	1,133	$	1,060	$	1,332	$	1,003
Operating income		228		192		329		136
Net income		131		107		199		79
Net income attributable to controlling interests		131		107		199		79
2010
Operating revenues	$	1,263	$	1,117	$	1,414	$	1,128
Operating income		266		196		402		207
Net income		136		111		236		119
Net income attributable to controlling interests		138		112		234		119

In the opinion of management, all adjustments necessary to fairly present amounts shown for interim periods have been made.Results of operations for an interim period may not give a true indication of results for the year.Typically, weather conditions in PEC's service territories directly influence the demand for electricity and affect the price of energy commodities necessary to provide electricity to its customers.As a result, its overall operating results may fluctuate substantially on a seasonal basis.

PEF

Summarized quarterly financial data was as follows:

(in millions)	First		Second		Third		Fourth
2011
Operating revenues	$	1,032	$	1,193	$	1,414	$	730
Operating income (loss)		216		234		361		(113)
Net income (loss)		102		113		203		(104)
2010
Operating revenues	$	1,270	$	1,252	$	1,543	$	1,189
Operating income		222		244		344		149
Net income		102		119		180		52

In the opinion of management, all adjustments necessary to fairly present amounts shown for interim periods have been made. Results of operations for an interim period may not give a true indication of results for the year.Typically, weather conditions in PEF's service territories directly influence the demand for electricity and affect the price of energy commodities necessary to provide electricity to its customers. As a result, its overall operating results may fluctuate substantially on a seasonal basis.

During the fourth quarter of 2011, PEF recorded $288 million to be refunded to customers through the fuel clause in accordance with the 2012 settlement agreement. This was recognized as a reduction in operating revenues. See Note 8C for additional information.

PEC

Selected Quarterly Financial Information Disclosure [Line Items]

Quarterly financial data (Unaudited)

24.QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized quarterly financial data was as follows:

PEC

Summarized quarterly financial data was as follows:

(in millions)	First		Second		Third		Fourth
2011
Operating revenues	$	1,133	$	1,060	$	1,332	$	1,003
Operating income		228		192		329		136
Net income		131		107		199		79
Net income attributable to controlling interests		131		107		199		79
2010
Operating revenues	$	1,263	$	1,117	$	1,414	$	1,128
Operating income		266		196		402		207
Net income		136		111		236		119
Net income attributable to controlling interests		138		112		234		119

In the opinion of management, all adjustments necessary to fairly present amounts shown for interim periods have been made.Results of operations for an interim period may not give a true indication of results for the year.Typically, weather conditions in PEC's service territories directly influence the demand for electricity and affect the price of energy commodities necessary to provide electricity to its customers.As a result, its overall operating results may fluctuate substantially on a seasonal basis.

PEF

Selected Quarterly Financial Information Disclosure [Line Items]

Quarterly financial data (Unaudited)

24.QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized quarterly financial data was as follows:

PEF

Summarized quarterly financial data was as follows:

(in millions)	First		Second		Third		Fourth
2011
Operating revenues	$	1,032	$	1,193	$	1,414	$	730
Operating income (loss)		216		234		361		(113)
Net income (loss)		102		113		203		(104)
2010
Operating revenues	$	1,270	$	1,252	$	1,543	$	1,189
Operating income		222		244		344		149
Net income		102		119		180		52

In the opinion of management, all adjustments necessary to fairly present amounts shown for interim periods have been made. Results of operations for an interim period may not give a true indication of results for the year.Typically, weather conditions in PEF's service territories directly influence the demand for electricity and affect the price of energy commodities necessary to provide electricity to its customers. As a result, its overall operating results may fluctuate substantially on a seasonal basis.

During the fourth quarter of 2011, PEF recorded $288 million to be refunded to customers through the fuel clause in accordance with the 2012 settlement agreement. This was recognized as a reduction in operating revenues. See Note 8C for additional information.