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Dispositions
 3 Months Ended
Mar. 31, 2014
Acquisitions And Dispositions [Abstract]  
Acquisitions and Dispositions

2. DISPOSITIONS

Midwest Generation Exit

On February 17, 2014, Duke Energy Ohio announced it had initiated a process to exit its nonregulated Midwest generation business. As a result, Duke Energy and Duke Energy Ohio classified the assets and associated liabilities of this business as held for sale in the Condensed Consolidated Balance Sheet at March 31, 2014, and recorded pretax losses on these assets of approximately $1,381 million and $1,417 million at Duke Energy and Duke Energy Ohio, respectively, which represents the excess of the carrying value over the estimated fair value of the business, less estimated costs to sell. These losses were included in Impairment charges in the Condensed Consolidated Statements of Operations and Comprehensive Income. The fair value of the disposal group was based on the income approach, which estimates fair value using discounted cash flows. The impairment will be updated, if necessary, based on changes in estimated fair value as additional information related to the potential transaction becomes available. Duke Energy and Duke Energy Ohio ceased depreciating the fixed assets of the disposal group when classified as held for sale. Considering a marketing period of several months and potential regulatory approvals, Duke Energy Ohio expects to dispose of the nonregulated Midwest generation business by the end of the first quarter of 2015.

The nonregulated Midwest generation business is included in the Commercial Power segment. The following table presents information related to the Duke Energy Ohio plants included in the disposal group.

              
FacilityPlant Type Primary Fuel Location Total Average MW Capacity(c) Owned Average MW Capacity(c) Ownership Interest
Stuart(a)(b)Fossil Steam Coal OH  2,318  904  39%
Zimmer(a)Fossil Steam Coal OH  1,338  622  46.5 
Hanging RockCombined Cycle Gas OH  1,274  1,274  100 
Miami Fort (Units 7 and 8)(a)Fossil Steam Coal OH  1,020  653  64 
Conesville(a)(b)Fossil Steam Coal OH  780  312  40 
WashingtonCombined Cycle Gas OH  637  637  100 
FayetteCombined Cycle Gas PA  640  640  100 
Killen(a)(b)Fossil Steam Coal OH  618  204  33 
LeeCombustion Turbine Gas IL  640  640  100 
Dick's CreekCombustion Turbine Gas OH  136  136  100 
Miami FortCombustion Turbine Oil OH  68  68  100 
Total Midwest Generation       9,469  6,090   
              
(a)Jointly owned with Ohio Power Company and/or The Dayton Power & Light Company.
(b)Station is not operated by Duke Energy Ohio.
(c)Average MW capacity is calculated as the average of winter capacity and summer capacity.
              

The disposal group also includes Duke Energy Ohio's power purchase agreement with the Ohio Valley Electric Corporation (OVEC), and a retail sales business owned by Duke Energy.

The following table presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in the Midwest generation disposal group in the Condensed Consolidated Balance Sheets. Amounts included in the following table exclude certain other disposal groups which are not material and accordingly do not agree to the Duke Energy Condensed Consolidated Balance Sheets.

       
  March 31, 2014
(in millions)Duke Energy Duke Energy Ohio
Current assets$ 515 $ 442
Investments and other assets  209   179
Property, plant and equipment  2,025   1,988
Total assets held for sale$ 2,749 $ 2,609
Current liabilities$ 222 $ 189
Deferred credits and other liabilities  56   55
Total liabilities associated with assets held for sale$ 278 $ 244