Acquisitions, Dispositions and Sales of Other Assets (Tables)

12 Months Ended

Dec. 31, 2014

Significant Acquisitions and Disposals [Line Items]

Schedule of Purchase Price Calculation

Total consideration transferred was based on the closing price of Duke Energy common shares on July 2, 2012, and was calculated as shown in the following table.

(dollars in millions, except per share amounts; shares in thousands)
Progress Energy common shares outstanding at July 2, 2012	296,116
Exchange ratio	0.87083
Duke Energy common shares issued for Progress Energy common shares outstanding	257,867
Closing price of Duke Energy common shares on July 2, 2012	$	69.84
Purchase price for common stock	$	18,009
Fair value of outstanding earned stock compensation awards	62
Total purchase price	$	18,071

Schedule of Purchase Price Allocation

The completed purchase price allocation is presented in the following table.

(in millions)
Current assets	$	3,204
Property, plant and equipment	23,141
Goodwill	12,469
Other long-term assets	9,990
Total assets	48,804
Current liabilities, including current maturities of long-term debt	3,593
Long-term liabilities, preferred stock and noncontrolling interests	10,394
Long-term debt	16,746
Total liabilities and preferred stock	30,733
Total purchase price	$	18,071

Pro Forma Information

The following unaudited pro forma financial information reflects the consolidated results of operations of Duke Energy and the amortization of purchase price adjustments assuming the merger had taken place on January 1, 2012. The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or future consolidated results of operations of Duke Energy.

Non-recurring merger consummation, integration and other costs incurred by Duke Energy and Progress Energy during the period have been excluded from pro forma earnings presented below. After-tax non-recurring merger consummation, integration and other costs incurred by both Duke Energy and Progress Energy were $413 million for the year ended 2012. The pro forma financial information also excludes potential future cost savings or non-recurring charges related to the merger.

	Year Ended December 31,
(in millions, except per share amounts)	2012
Revenues	$	23,976
Net Income Attributable to Duke Energy Corporation	2,417
Basic and Diluted Earnings Per Share	3.43

Accounting Charges Related to the Merger Consummation

The following pretax consummation charges were recognized upon closing of the merger and are included in the Duke Energy Registrants’ Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2012.

(in millions)	Duke Energy		Duke Energy Carolinas		Progress Energy		Duke Energy Progress		Duke Energy Florida		Duke Energy Ohio		Duke Energy Indiana
FERC Mitigation	$	117	$	46	$	71	$	71	$	—	$	—	$	—
Severance costs	196		63		82		55		27		21		18
Community support, charitable contributions and other	169		79		74		63		11		7		6
Total	$	482	$	188	$	227	$	189	$	38	$	28	$	24

Generation Facilities of Disposal Group

The following table presents information related to the Duke Energy Ohio generation plants included in the Disposal Group.

Facility	Plant Type	Primary Fuel	Location	Total MW Capacity(c)	Owned MW Capacity(c)	Ownership Interest
Stuart(a)(b)	Fossil Steam	Coal	OH	2,308	900	39	%
Zimmer(a)	Fossil Steam	Coal	OH	1,300	605	46.5	%
Hanging Rock	Combined Cycle	Gas	OH	1,226	1,226	100	%
Miami Fort (Units 7 and 8)(a)	Fossil Steam	Coal	OH	1,020	652	64	%
Conesville(a)(b)	Fossil Steam	Coal	OH	780	312	40	%
Washington	Combined Cycle	Gas	OH	617	617	100	%
Fayette	Combined Cycle	Gas	PA	614	614	100	%
Killen(a)(b)	Fossil Steam	Coal	OH	600	198	33	%
Lee	Combustion Turbine	Gas	IL	568	568	100	%
Dick's Creek	Combustion Turbine	Gas	OH	136	136	100	%
Miami Fort	Combustion Turbine	Oil	OH	56	56	100	%
Total Midwest Generation				9,225	5,884

(a) Jointly owned with American Electric Power Generation Resources and/or The Dayton Power & Light Company.

(b) Station is not operated by Duke Energy Ohio

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The following table presents the results of discontinued operations.

Duke Energy

	Years Ended December 31,
(in millions)	2014			2013		2012
Operating Revenues	$	1,748		$	1,885	$	1,771
Estimated loss on disposition	(929		)	—		—
(Loss) Income before income taxes	$	(818	)	$	141	$	227
Income tax (benefit) expense	(294		)	56		82
(Loss) Income from discontinued operations of the Disposal Group	(524		)	85		145
Other, net of tax(a)	(52		)	1		26
(Loss) Income from Discontinued Operations, net of tax	$	(576	)	$	86	$	171

(a) Other discontinued operations relate to prior sales of businesses and includes indemnifications provided for certain legal, tax and environmental matters, and foreign currency translation adjustments.

Duke Energy Ohio

	Years Ended December 31,
(in millions)	2014			2013		2012
Operating Revenues	$	1,299		$	1,503	$	1,435
Estimated loss on disposition	(959		)	—		—
(Loss) Income before income taxes	$	(863	)	$	67	$	195
Income tax (benefit) expense	(300		)	32		65
(Loss) Income from Discontinued Operations, net of tax	$	(563	)	$	35	$	130

Disclosure of Long Lived Assets Held-for-sale

The following table presents the Disposal Group's carrying values in the Consolidated Balance Sheets' major classes of Assets held for sale.

	December 31, 2014
(in millions)	Duke Energy		Duke Energy Ohio
Current assets	$	364	$	316
Investments and other assets	52		46
Property, plant and equipment	2,590		2,559
Total assets held for sale	$	3,006	$	2,921
Current liabilities	$	262	$	246
Deferred credits and other liabilities	35		34
Total liabilities associated with assets held for sale	$	297	$	280