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Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
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

2016
 
 
 
 
 
 
 
 
 
Operating revenues
$
5,377

 
$
5,213

 
$
6,576

 
$
5,577

 
$
22,743

Operating income
1,240

 
1,259

 
1,954

 
888

 
5,341

Income from continuing operations
577

 
624

 
1,001

 
376

 
2,578

Income (loss) from discontinued operations, net of tax
122

 
(112
)
 
180

 
(598
)
 
(408
)
Net income (loss)
699

 
512

 
1,181

 
(222
)
 
2,170

Net income (loss) attributable to Duke Energy Corporation
694

 
509

 
1,176

 
(227
)
 
2,152

Earnings per share:
 
 
 
 
 
 
 
 
 
Income from continuing operations attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic
$
0.83

 
$
0.90

 
$
1.44

 
$
0.53

 
$
3.71

Diluted
$
0.83

 
$
0.90

 
$
1.44

 
$
0.53

 
$
3.71

Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic
$
0.18

 
$
(0.16
)
 
$
0.26

 
$
(0.86
)
 
$
(0.60
)
Diluted
$
0.18

 
$
(0.16
)
 
$
0.26

 
$
(0.86
)
 
$
(0.60
)
Net income (loss) attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic
$
1.01

 
$
0.74

 
$
1.70

 
$
(0.33
)
 
$
3.11

Diluted
$
1.01

 
$
0.74

 
$
1.70

 
$
(0.33
)
 
$
3.11

2015
 
 
 
 
 
 
 
 
 
Operating revenues
$
5,792

 
$
5,302

 
$
6,202

 
$
5,075

 
$
22,371

Operating income
1,390

 
1,192

 
1,606

 
890

 
5,078

Income from continuing operations
755

 
576

 
890

 
433

 
2,654

Income (Loss) from discontinued operations, net of tax
112

 
(29
)
 
45

 
49

 
177

Net income
867

 
547

 
935

 
482

 
2,831

Net income attributable to Duke Energy Corporation
864

 
543

 
932

 
477

 
2,816

Earnings per share:
 
 
 
 
 
 
 
 
 
Income from continuing operations attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic
$
1.06

 
$
0.83

 
$
1.29

 
$
0.62

 
$
3.80

Diluted
$
1.06

 
$
0.83

 
$
1.29

 
$
0.62

 
$
3.80

Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic
$
0.16

 
$
(0.05
)
 
$
0.06

 
$
0.07

 
$
0.25

Diluted
$
0.16

 
$
(0.05
)
 
$
0.06

 
$
0.07

 
$
0.25

Net income attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic
$
1.22

 
$
0.78

 
$
1.35

 
$
0.69

 
$
4.05

Diluted
$
1.22

 
$
0.78

 
$
1.35

 
$
0.69

 
$
4.05

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

2016
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers (see Note 2)
$
(120
)
 
$
(111
)
 
$
(84
)
 
$
(208
)
 
$
(523
)
Commercial Renewables Impairment (see Note 12)

 

 
(71
)
 

 
(71
)
Loss on Sale of International Disposal Group (see Note 2)

 

 

 
(514
)
 
(514
)
Impairment of Assets in Central America (see Note 2)

 
(194
)
 

 

 
(194
)
Cost Savings Initiatives (see Note 19)
(20
)
 
(24
)
 
(19
)
 
(29
)
 
(92
)
Total
$
(140
)
 
$
(329
)
 
$
(174
)
 
$
(751
)
 
$
(1,394
)
2015
 
 
 
 
 
 
 
 
 

Costs to Achieve Mergers
$
(21
)
 
$
(22
)
 
$
(24
)
 
$
(30
)
 
$
(97
)
Edwardsport Settlement (see Note 4)

 

 
(90
)
 
(3
)
 
(93
)
Ash Basin Settlement and Penalties (see Note 5)

 

 
(7
)
 
(7
)
 
(14
)
State Tax Adjustment related to Midwest Generation Sale

 
(41
)
 

 

 
(41
)
Cost Savings Initiatives (see Note 19)

 

 

 
(142
)
 
(142
)
Total
$
(21
)
 
$
(63
)
 
$
(121
)
 
$
(182
)
 
$
(387
)

DUKE ENERGY CAROLINAS
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2016
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,740

 
$
1,675

 
$
2,226

 
$
1,681

 
$
7,322

Operating income
481

 
464

 
815

 
302

 
2,062

Net income
271

 
261

 
494

 
140

 
1,166

2015
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,901

 
$
1,707

 
$
2,061

 
$
1,560

 
$
7,229

Operating income
515

 
483

 
666

 
296

 
1,960

Net income
292

 
265

 
383

 
141

 
1,081

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

2016
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(11
)
 
$
(12
)
 
$
(13
)

$
(68
)
 
$
(104
)
Cost Savings Initiatives (see Note 19)
(10
)
 
(10
)
 
(8
)
 
(11
)
 
(39
)
Total
$
(21
)
 
$
(22
)
 
$
(21
)
 
$
(79
)
 
$
(143
)
2015
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(9
)
 
$
(11
)
 
$
(11
)
 
$
(16
)
 
$
(47
)
Ash Basin Settlement and Penalties (see Note 5)

 

 
(1
)
 
(7
)
 
(8
)
Cost Savings Initiatives (see Note 19)

 

 

 
(93
)
 
(93
)
Total
$
(9
)
 
$
(11
)
 
$
(12
)
 
$
(116
)
 
$
(148
)

PROGRESS ENERGY
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2016
 
 
 
 
 
 
 
 
 
Operating revenues
$
2,332

 
$
2,348

 
$
2,965

 
$
2,208

 
$
9,853

Operating income
475

 
560

 
814

 
292

 
2,141

Income from continuing operations
212

 
274

 
449

 
104

 
1,039

Net income
212

 
274

 
449

 
106

 
1,041

Net income attributable to Parent
209

 
272

 
446

 
104

 
1,031

2015
 
 
 
 
 
 
 
 
 
Operating revenues
$
2,536

 
$
2,476

 
$
2,929

 
$
2,336

 
$
10,277

Operating income
549

 
504

 
756

 
351

 
2,160

Income from continuing operations
264

 
217

 
452

 
132

 
1,065

Net income
263

 
217

 
451

 
131

 
1,062

Net income attributable to Parent
260

 
215

 
448

 
128

 
1,051

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

2016
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(7
)
 
$
(8
)
 
$
(10
)
 
$
(44
)
 
$
(69
)
Cost Savings Initiatives (see Note 19)
(8
)
 
(8
)
 
(10
)
 
(14
)
 
(40
)
Total
$
(15
)
 
$
(16
)
 
$
(20
)
 
$
(58
)
 
$
(109
)
2015
 
 
 
 
 
 
 
 
 

Costs to Achieve Mergers
$
(8
)
 
$
(8
)
 
$
(8
)
 
$
(10
)
 
$
(34
)
Ash Basin Settlement and Penalties (see Note 5)

 

 
(6
)
 

 
(6
)
Cost Savings Initiatives (see Note 19)

 

 

 
(36
)
 
(36
)
Total
$
(8
)
 
$
(8
)
 
$
(14
)
 
$
(46
)
 
$
(76
)

DUKE ENERGY PROGRESS
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2016
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,307

 
$
1,213

 
$
1,583

 
$
1,174

 
$
5,277

Operating income
258

 
255

 
438

 
135

 
1,086

Net income
137

 
131

 
271

 
60

 
599

2015
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,449

 
$
1,193

 
$
1,488

 
$
1,160

 
$
5,290

Operating income
316

 
184

 
394

 
130

 
1,024

Net income
183

 
85

 
229

 
69

 
566

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

2016
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(5
)
 
$
(5
)
 
$
(6
)
 
$
(40
)
 
$
(56
)
Cost Savings Initiatives (see Note 19)
(5
)
 
(5
)
 
(7
)
 
(6
)
 
(23
)
Total
$
(10
)

$
(10
)

$
(13
)

$
(46
)

$
(79
)
2015
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(5
)
 
$
(5
)
 
$
(6
)
 
$
(6
)
 
$
(22
)
Ash Basin Settlement and Penalties (see Note 5)

 

 
(6
)
 

 
(6
)
Cost Savings Initiatives (see Note 19)

 

 

 
(28
)
 
(28
)
Total
$
(5
)
 
$
(5
)
 
$
(12
)
 
$
(34
)
 
$
(56
)

DUKE ENERGY FLORIDA
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2016
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,024

 
$
1,133

 
$
1,381

 
$
1,030

 
$
4,568

Operating income
213

 
300

 
373

 
155

 
1,041

Net income
110

 
171

 
206

 
64

 
551

2015
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,086

 
$
1,281

 
$
1,436

 
$
1,174

 
$
4,977

Operating income
227

 
315

 
357

 
216

 
1,115

Net income
113

 
165

 
216

 
105

 
599


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

2016
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(2
)
 
$
(3
)
 
$
(4
)
 
$
(4
)
 
$
(13
)
Cost Savings Initiatives (see Note 19)
(2
)
 
(3
)
 
(3
)
 
(9
)
 
(17
)
Total
$
(4
)
 
$
(6
)
 
$
(7
)
 
$
(13
)
 
$
(30
)
2015
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(3
)
 
$
(3
)
 
$
(3
)
 
$
(4
)
 
$
(13
)
Cost Savings Initiatives (see Note 19)

 

 

 
(8
)
 
(8
)
Total
$
(3
)
 
$
(3
)
 
$
(3
)
 
$
(12
)
 
$
(21
)

DUKE ENERGY OHIO
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2016
 
 
 
 
 
 
 
 
 
Operating revenues
$
516

 
$
428

 
$
489

 
$
511

 
$
1,944

Operating income
96

 
55

 
106

 
90

 
347

Income from discontinued operations, net of tax
2

 

 
34

 

 
36

Net income
59

 
23

 
89

 
57

 
228

2015
 
 
 
 
 
 
 
 
 
Operating revenues
$
586

 
$
405

 
$
462

 
$
452

 
$
1,905

Operating income
111

 
43

 
76

 
73

 
303

Income (Loss) from discontinued operations, net of tax
90

 
(65
)
 
(2
)
 

 
23

Net income (loss)
149

 
(52
)
 
32

 
43

 
172


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

2016
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(1
)
 
$
(1
)
 
$
(2
)
 
$
(2
)
 
$
(6
)
Cost Savings Initiatives (see Note 19)
(1
)
 
(1
)
 

 
(1
)
 
(3
)
Total
$
(2
)
 
$
(2
)
 
$
(2
)
 
$
(3
)
 
$
(9
)
2015
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(1
)
 
$
(1
)
 
$
(1
)
 
$
(1
)
 
$
(4
)
Cost Savings Initiatives (see Note 19)

 

 

 
(2
)
 
(2
)
Total
$
(1
)
 
$
(1
)
 
$
(1
)
 
$
(3
)
 
$
(6
)

DUKE ENERGY INDIANA
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2016
 
 
 
 
 
 
 
 
 
Operating revenues
$
714

 
$
702

 
$
809

 
$
733

 
$
2,958

Operating income
176

 
174

 
239

 
176

 
765

Net income
95

 
85

 
129

 
72

 
381

2015
 
 
 
 
 
 
 
 
 
Operating revenues
$
788

 
$
686

 
$
749

 
$
667

 
$
2,890

Operating income
210

 
146

 
117

 
171

 
644

Net income
108

 
68

 
46

 
94

 
316


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

2016
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(1
)
 
$
(2
)
 
$
(3
)
 
$
(3
)
 
$
(9
)
Cost Savings Initiatives (see Note 19)
(1
)
 
(4
)
 
(1
)
 
(1
)
 
(7
)
Total
$
(2
)
 
$
(6
)
 
$
(4
)
 
$
(4
)
 
$
(16
)
2015
 
 
 
 
 
 
 
 
 
Costs to Achieve Mergers
$
(2
)
 
$
(1
)
 
$
(2
)
 
$
(2
)
 
$
(7
)
Edwardsport Settlement (see Note 4)

 

 
(90
)
 
(3
)
 
(93
)
Cost Savings Initiatives (see Note 19)

 

 

 
(6
)
 
(6
)
Total
$
(2
)
 
$
(1
)
 
$
(92
)
 
$
(11
)
 
$
(106
)