| Schedule of Debt |
The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings. | | | | | | | | | | (in millions) | Maturity Date | | Interest Rate |
| | December 31, 2017 |
| Unsecured Debt | | | | | | Duke Energy (Parent) | June 2018 | | 6.250 | % | | $ | 250 |
| Duke Energy (Parent) | June 2018 | | 2.100 | % | | 500 |
| Piedmont | December 2018 | | 2.286 | % | (b) | 250 |
| First Mortgage Bonds | | | | | | Duke Energy Carolinas | January 2018 | | 5.250 | % | | 400 |
| Duke Energy Carolinas | April 2018 | | 5.100 | % | | 300 |
| Duke Energy Florida | June 2018 | | 5.650 | % | | 500 |
| Duke Energy Carolinas | November 2018 | | 7.000 | % | | 500 |
| Other(a) | | | | | 544 |
| Current maturities of long-term debt | | | | | $ | 3,244 |
|
| | (a) | Includes capital lease obligations, amortizing debt and small bullet maturities. |
| | (b) | Debt has a floating interest rate. |
The following tables summarize outstanding debt. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | Weighted |
| | | | | | | | | | | Average |
| | | Duke |
| | Duke |
| Duke |
| Duke |
| Duke |
| | | Interest |
| | Duke |
| Energy |
| Progress |
| Energy |
| Energy |
| Energy |
| Energy |
| | (in millions) | Rate |
| | Energy |
| Carolinas |
| Energy |
| Progress |
| Florida |
| Ohio |
| Indiana |
| Piedmont |
| Unsecured debt, maturing 2018-2073 | 4.17 | % | | $ | 20,409 |
| $ | 1,150 |
| $ | 3,950 |
| $ | — |
| $ | 550 |
| $ | 900 |
| $ | 411 |
| $ | 2,050 |
| Secured debt, maturing 2018-2037 | 3.15 | % | | 4,458 |
| 450 |
| 1,757 |
| 300 |
| 1,457 |
| — |
| — |
| — |
| First mortgage bonds, maturing 2018-2047(a) | 4.51 | % | | 23,529 |
| 7,959 |
| 11,801 |
| 6,776 |
| 5,025 |
| 1,100 |
| 2,669 |
| — |
| Capital leases, maturing 2018-2051(b) | 4.55 | % | | 1,000 |
| 61 |
| 269 |
| 139 |
| 129 |
| 5 |
| 11 |
| — |
| Tax-exempt bonds, maturing 2019-2041(c) | 3.23 | % | | 941 |
| 243 |
| 48 |
| 48 |
| — |
| 77 |
| 572 |
| — |
| Notes payable and commercial paper(d) | 1.57 | % | | 2,788 |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| Money pool/intercompany borrowings | | | — |
| 404 |
| 955 |
| 390 |
| — |
| 54 |
| 311 |
| 364 |
| Fair value hedge carrying value adjustment | | | 6 |
| 6 |
| — |
| — |
| — |
| — |
| — |
| — |
| Unamortized debt discount and premium, net(e) | | | 1,582 |
| (19 | ) | (30 | ) | (16 | ) | (10 | ) | (33 | ) | (9 | ) | (1 | ) | Unamortized debt issuance costs(f) | | | (271 | ) | (47 | ) | (108 | ) | (40 | ) | (56 | ) | (7 | ) | (21 | ) | (12 | ) | Total debt | 4.09 | % | | $ | 54,442 |
| $ | 10,207 |
| $ | 18,642 |
| $ | 7,597 |
| $ | 7,095 |
| $ | 2,096 |
| $ | 3,944 |
| $ | 2,401 |
| Short-term notes payable and commercial paper | | | (2,163 | ) | — |
| — |
| — |
| — |
| — |
| — |
| — |
| Short-term money pool/intercompany borrowings | | | — |
| (104 | ) | (805 | ) | (240 | ) | — |
| (29 | ) | (161 | ) | (364 | ) | Current maturities of long-term debt(g) | | | (3,244 | ) | (1,205 | ) | (771 | ) | (3 | ) | (768 | ) | (3 | ) | (3 | ) | (250 | ) | Total long-term debt(g) |
| | $ | 49,035 |
| $ | 8,898 |
| $ | 17,066 |
| $ | 7,354 |
| $ | 6,327 |
| $ | 2,064 |
| $ | 3,780 |
| $ | 1,787 |
|
| | (a) | Substantially all electric utility property is mortgaged under mortgage bond indentures. |
| | (b) | Duke Energy includes $81 million and $603 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. |
| | (c) | Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. |
| | (d) | Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 14 days. |
| | (e) | Duke Energy includes $1,509 million and $176 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively. |
| | (f) | Duke Energy includes $47 million in purchase accounting adjustments primarily related to the merger with Progress Energy. |
| | (g) | Refer to Note 17 for additional information on amounts from consolidated VIEs. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | Weighted |
| | | | | | | | | | | Average |
| | | Duke |
| | Duke |
| Duke |
| Duke |
| Duke |
| | | Interest |
| | Duke |
| Energy |
| Progress |
| Energy |
| Energy |
| Energy |
| Energy |
| | (in millions) | Rate |
| | Energy |
| Carolinas |
| Energy |
| Progress |
| Florida |
| Ohio |
| Indiana |
| Piedmont |
| Unsecured debt, maturing 2017-2073 | 4.30 | % | | $ | 17,812 |
| $ | 1,150 |
| $ | 3,551 |
| $ | — |
| $ | 150 |
| $ | 810 |
| $ | 415 |
| $ | 1,835 |
| Secured debt, maturing 2017-2037 | 2.60 | % | | 3,909 |
| 425 |
| 1,819 |
| 300 |
| 1,519 |
| — |
| — |
| — |
| First mortgage bonds, maturing 2017-2046(a) | 4.61 | % | | 21,879 |
| 7,410 |
| 10,800 |
| 6,425 |
| 4,375 |
| 1,000 |
| 2,669 |
| — |
| Capital leases, maturing 2018-2051(b) | 4.48 | % | | 1,100 |
| 22 |
| 285 |
| 142 |
| 143 |
| 7 |
| 11 |
| — |
| Tax-exempt bonds, maturing 2017-2041(c) | 2.84 | % | | 1,053 |
| 355 |
| 48 |
| 48 |
| — |
| 77 |
| 572 |
| — |
| Notes payable and commercial paper(d) | 1.01 | % | | 3,112 |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| Money pool/intercompany borrowings(e) | | | — |
| 300 |
| 1,902 |
| 150 |
| 297 |
| 41 |
| 150 |
| — |
| Fair value hedge carrying value adjustment | | | 6 |
| 6 |
| — |
| — |
| — |
| — |
| — |
| — |
| Unamortized debt discount and premium, net(f) | | | 1,753 |
| (20 | ) | (31 | ) | (16 | ) | (10 | ) | (28 | ) | (9 | ) | (1 | ) | Unamortized debt issuance costs(g) | | | (242 | ) | (45 | ) | (104 | ) | (38 | ) | (52 | ) | (7 | ) | (22 | ) | (13 | ) | Total debt | 4.07 | % | | $ | 50,382 |
| $ | 9,603 |
| $ | 18,270 |
| $ | 7,011 |
| $ | 6,422 |
| $ | 1,900 |
| $ | 3,786 |
| $ | 1,821 |
| Short-term notes payable and commercial paper | | | (2,487 | ) | — |
| — |
| — |
| — |
| — |
| — |
| — |
| Short-term money pool/intercompany borrowings | | | — |
| — |
| (729 | ) | — |
| (297 | ) | (16 | ) | — |
| — |
| Current maturities of long-term debt(h) | | | (2,319 | ) | (116 | ) | (778 | ) | (452 | ) | (326 | ) | (1 | ) | (3 | ) | (35 | ) | Total long-term debt(h) |
| | $ | 45,576 |
| $ | 9,487 |
| $ | 16,763 |
| $ | 6,559 |
| $ | 5,799 |
| $ | 1,883 |
| $ | 3,783 |
| $ | 1,786 |
|
| | (a) | Substantially all electric utility property is mortgaged under mortgage bond indentures. |
| | (b) | Duke Energy includes $98 million and $670 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. |
| | (c) | Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. |
| | (d) | Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy and Piedmont's commercial paper programs were 14 days and eight days, respectively. |
| | (e) | Progress Energy amount includes a $1 billion intercompany loan related to the sale of the International Disposal Group. See Note 2 for further discussion of the sale. |
| | (f) | Duke Energy includes $1,653 million and $197 million purchase accounting adjustments related to the mergers with Progress Energy and Piedmont, respectively. |
| | (g) | Duke Energy includes $53 million in purchase accounting adjustments primarily related to the merger with Progress Energy. |
| | (h) | Refer to Note 17 for additional information on amounts from consolidated VIEs. |
The following tables show short-term obligations classified as long-term debt. | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| (in millions) | Energy |
| | Carolinas |
| | Progress |
| | Ohio |
| | Indiana |
| Tax-exempt bonds | $ | 312 |
| | $ | — |
| | $ | — |
| | $ | 27 |
| | $ | 285 |
| Commercial paper(a) | 625 |
| | 300 |
| | 150 |
| | 25 |
| | 150 |
| Total | $ | 937 |
|
| $ | 300 |
| | $ | 150 |
|
| $ | 52 |
|
| $ | 435 |
|
| | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | | | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| (in millions) | Energy |
| | Carolinas |
| | Progress |
| | Ohio |
| | Indiana |
| Tax-exempt bonds | $ | 347 |
| | $ | 35 |
| | $ | — |
| | $ | 27 |
| | $ | 285 |
| Commercial paper(a) | 625 |
| | 300 |
| | 150 |
| | 25 |
| | 150 |
| Total | $ | 972 |
|
| $ | 335 |
|
| $ | 150 |
| | $ | 52 |
|
| $ | 435 |
|
| | (a) | Progress Energy amounts are equal to Duke Energy Progress amounts. |
|
| Schedule of Maturities of Long-term Debt |
The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable and commercial paper and money pool borrowings for the Subsidiary Registrants. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | | Duke |
| | | | Duke |
| | Duke |
| | Duke |
| | Duke |
| | | | Duke |
| | Energy |
| | Progress |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| | | (in millions) | Energy(a) |
| | Carolinas |
| | Energy |
| | Progress |
| | Florida |
| | Ohio |
| | Indiana |
| | Piedmont |
| 2018 | $ | 3,244 |
| | $ | 1,205 |
| | $ | 771 |
| | $ | 3 |
| | $ | 768 |
| | $ | 3 |
| | $ | 3 |
| | $ | 250 |
| 2019 | 3,563 |
| | 6 |
| | 2,191 |
| | 903 |
| | 490 |
| | 548 |
| | 61 |
| | — |
| 2020 | 3,699 |
| | 906 |
| | 871 |
| | 304 |
| | 568 |
| | — |
| | 502 |
| | — |
| 2021 | 3,760 |
| | 502 |
| | 1,472 |
| | 602 |
| | 371 |
| | 48 |
| | 69 |
| | 159 |
| 2022 | 3,010 |
| | 302 |
| | 1,176 |
| | 653 |
| | 74 |
| | 23 |
| | 243 |
| | — |
| Thereafter | 33,271 |
| | 7,182 |
| | 11,356 |
| | 4,892 |
| | 4,824 |
| | 1,445 |
| | 2,905 |
| | 1,628 |
| Total long-term debt, including current maturities | $ | 50,547 |
|
| $ | 10,103 |
|
| $ | 17,837 |
|
| $ | 7,357 |
|
| $ | 7,095 |
|
| $ | 2,067 |
|
| $ | 3,783 |
| | $ | 2,037 |
|
| | (a) | Excludes $1,732 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition. |
|
| Schedule of Long-term Debt Instruments |
The following tables summarize significant debt issuances (in millions). | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2017 | | | | | | | | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Maturity | | Interest |
| | Duke |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| Issuance Date | Date | | Rate |
| | Energy |
| | (Parent) |
| | Carolinas |
| | Progress |
| | Florida |
| | Ohio |
| Unsecured Debt | | | | | | | | | | | | | | | | April 2017(a) | April 2025 | | 3.364 | % | | $ | 420 |
| | $ | 420 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| June 2017(b) | June 2020 | | 2.100 | % | | 330 |
| | 330 |
| | — |
| | — |
| | — |
| | — |
| August 2017(c) | August 2022 | | 2.400 | % | | 500 |
| | 500 |
| | — |
| | — |
| | — |
| | — |
| August 2017(c) | August 2027 | | 3.150 | % | | 750 |
| | 750 |
| | — |
| | — |
| | — |
| | — |
| August 2017(c) | August 2047 | | 3.950 | % | | 500 |
| | 500 |
| | — |
| | — |
| | — |
| | — |
| December 2017(d) | December 2019 | (k) | 2.100 | % | | 400 |
| | — |
| | — |
| | — |
| | 400 |
| | — |
| Secured Debt | | |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| | | February 2017(e) | June 2034 | | 4.120 | % | | 587 |
| | — |
| | — |
| | — |
| | — |
| | — |
| August 2017(f) | December 2036 | | 4.110 | % | | 233 |
| | — |
| | — |
| | — |
| | — |
| | — |
| First Mortgage Bonds | | |
| |
|
| | | | | | | |
| | | January 2017(g) | January 2020 | | 1.850 | % | | 250 |
| | — |
| | — |
| | — |
| | 250 |
| | — |
| January 2017(g) | January 2027 | | 3.200 | % | | 650 |
| | — |
| | — |
| | — |
| | 650 |
| | — |
| March 2017(h) | June 2046 | | 3.700 | % | | 100 |
| | — |
| | — |
| | — |
| | — |
| | 100 |
| September 2017(i) | September 2020 | | 1.500 | % | (l) | 300 |
| | — |
| | — |
| | 300 |
| | — |
| | — |
| September 2017(i) | September 2047 | | 3.600 | % | | 500 |
| | — |
| | — |
| | 500 |
| | — |
| | — |
| November 2017(j) | December 2047 | | 3.700 | % | | 550 |
| | — |
| | 550 |
| | — |
| | — |
| | — |
| Total issuances | | | | | $ | 6,070 |
| | $ | 2,500 |
|
| $ | 550 |
| | $ | 800 |
| | $ | 1,300 |
| | $ | 100 |
|
| | (a) | Proceeds were used to refinance $400 million of unsecured debt at maturity and to repay a portion of outstanding commercial paper. |
| | (b) | Debt issued to repay a portion of outstanding commercial paper. |
| | (c) | Debt issued to repay at maturity $700 million of unsecured debt, to repay outstanding commercial paper and for general corporate purposes. |
| | (d) | Debt issued to fund storm restoration costs related to Hurricane Irma and for general corporate purposes. |
| | (e) | Portfolio financing of four Texas and Oklahoma wind facilities. Duke Energy pledged substantially all of the assets of these wind facilities and is nonrecourse to Duke Energy. Proceeds were used to reimburse Duke Energy for a portion of previously funded construction expenditures. |
| | (f) | Portfolio financing of eight solar facilities located in California, Colorado and New Mexico. Duke Energy pledged substantially all of the assets of these solar facilities and is nonrecourse to Duke Energy. Proceeds were used to reimburse Duke Energy for a portion of previously funded construction expenditures. |
| | (g) | Debt issued to fund capital expenditures for ongoing construction and capital maintenance, to repay a $250 million aggregate principal amount of bonds at maturity and for general corporate purposes. |
| | (h) | Proceeds were used to fund capital expenditures for ongoing construction, capital maintenance and for general corporate purposes. |
| | (i) | Debt issued to repay at maturity a $200 million aggregate principal amount of bonds at maturity, pay down intercompany short-term debt and for general corporate purposes, including capital expenditures. |
| | (j) | Debt issued to refinance $400 million aggregate principal amount of bonds due January 2018, pay down intercompany short-term debt and for general corporate purposes. |
| | (k) | Principal balance will be repaid in equal quarterly installments beginning in March 2018. |
| | (l) | Debt issuance has a floating interest rate. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2016 | | | | | | | | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Duke |
| | Maturity | | Interest |
| | Duke |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| | Energy |
| Issuance Date | Date | | Rate |
| | Energy |
| | (Parent) |
| | Carolinas |
| | Progress |
| | Florida |
| | Ohio |
| | Indiana |
| Unsecured Debt | | | | | | | | | | | | | | | | | | April 2016(a) | April 2023 | | 2.875 | % | | $ | 350 |
| | $ | 350 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| August 2016(b) | September 2021 | | 1.800 | % | | 750 |
| | 750 |
| | — |
| | — |
| | — |
| | — |
| | — |
| August 2016(b) | September 2026 | | 2.650 | % | | 1,500 |
| | 1,500 |
| | — |
| | — |
| | — |
| | — |
| | — |
| August 2016(b) | September 2046 | | 3.750 | % | | 1,500 |
| | 1,500 |
| | — |
| | — |
| | — |
| | — |
| | — |
| Secured Debt | | | | | | | | | | | | | | |
|
| | | June 2016(c) | March 2020 | | 1.196 | % | | 183 |
| | — |
| | — |
| | — |
| | 183 |
| | — |
| | — |
| June 2016(c) | September 2022 | | 1.731 | % | | 150 |
| | — |
| | — |
| | — |
| | 150 |
| | — |
| | — |
| June 2016(c) | September 2029 | | 2.538 | % | | 436 |
| | — |
| | — |
| | — |
| | 436 |
| | — |
| | — |
| June 2016(c) | March 2033 | | 2.858 | % | | 250 |
| | — |
| | — |
| | — |
| | 250 |
| | — |
| | — |
| June 2016(c) | September 2036 | | 3.112 | % | | 275 |
| | — |
| | — |
| | — |
| | 275 |
| | — |
| | — |
| August 2016(d) | June 2034 | | 2.747 | % | (i) | 228 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| August 2016(d) | June 2020 | | 2.747 | % | (i) | 105 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| First Mortgage Bonds | | | | | | | | | | | | | | |
|
| | | March 2016(e) | March 2023 | | 2.500 | % | | 500 |
| | — |
| | 500 |
| | — |
| | — |
| | — |
| | — |
| March 2016(e) | March 2046 | | 3.875 | % | | 500 |
| | — |
| | 500 |
| | — |
| | — |
| | — |
| | — |
| May 2016(f) | May 2046 | | 3.750 | % | | 500 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 500 |
| June 2016(e) | June 2046 | | 3.700 | % | | 250 |
| | — |
| | — |
| | — |
| | — |
| | 250 |
| | — |
| September 2016(g) | October 2046 | | 3.400 | % | | 600 |
| | — |
| | — |
| | — |
| | 600 |
| | — |
| | — |
| September 2016(e) | October 2046 | | 3.700 | % | | 450 |
| | — |
| | — |
| | 450 |
| | — |
| | — |
| | — |
| November 2016(h) | December 2046 | | 2.950 | % | | 600 |
| | — |
| | 600 |
| | — |
| | — |
| | — |
| | — |
| Total issuances | | | | | $ | 9,127 |
| | $ | 4,100 |
|
| $ | 1,600 |
| | $ | 450 |
|
| $ | 1,894 |
|
| $ | 250 |
| | $ | 500 |
|
| | (a) | Proceeds were used to pay down outstanding commercial paper and for general corporate purposes. |
| | (b) | Proceeds were used to finance a portion of the Piedmont acquisition. The $4.9 billion Bridge Facility was terminated following the issuance of this debt. See Note 2 for additional information on the Piedmont acquisition. |
| | (c) | DEFPF issued nuclear-asset recovery bonds and used the proceeds to acquire nuclear-asset recovery property from its parent, Duke Energy Florida. The nuclear-asset recovery bonds are payable only from and secured by the nuclear asset-recovery property. DEFPF is consolidated for financial reporting purposes; however, the nuclear asset-recovery bonds do not constitute a debt, liability or other legal obligation of, or interest in, Duke Energy Florida or any of its affiliates other than DEFPF. The assets of DEFPF, including the nuclear-asset recovery property, are not available to pay creditors of Duke Energy Florida or any of its affiliates. Duke Energy Florida used the proceeds from the sale to repay short-term borrowings under the intercompany money pool borrowing arrangement and make an equity distribution of $649 million to the ultimate parent, Duke Energy (Parent), which repaid short-term borrowings. The nuclear-asset recovery bonds are sequential pay amortizing bonds. The maturity date above represents the scheduled final maturity date for the bonds. See Notes 4 and 17 for additional information. |
| | (d) | Emerald State Solar, LLC, an indirect wholly owned subsidiary of Duke Energy entered into portfolio financing of approximately 22 North Carolina solar facilities. Tranche A of $228 million is secured by substantially all of the assets of the solar facilities and is nonrecourse to Duke Energy. Tranche B of $105 million is secured by an Equity Contribution Agreement with Duke Energy. Proceeds were used to reimburse Duke Energy for a portion of previously funded construction expenditures related to the Emerald State Solar, LLC portfolio. The initial interest rate on the loans was six months London Interbank Offered Rate (LIBOR) plus an applicable margin of 1.75 percent plus a 0.125 percent increase every three years thereafter. In connection with this debt issuance, Emerald State Solar, LLC entered into two interest rate swaps to convert the substantial majority of the loan interest payments from variable rates to fixed rates of approximately 1.81 percent for Tranche A and 1.38 percent for Tranche B, plus the applicable margin. See Note 14 for further information on the notional amounts of the interest rate swaps. |
| | (e) | Proceeds were used to fund capital expenditures for ongoing construction, capital maintenance and for general corporate purposes. |
| | (f) | Proceeds were used to repay $325 million of unsecured debt due June 2016, $150 million of first mortgage bonds due July 2016 and for general corporate purposes. |
| | (g) | Proceeds were used to fund capital expenditures for ongoing construction, capital maintenance, to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. |
| | (h) | Proceeds were used to repay at maturity $350 million aggregate principal amount of certain bonds due December 2016, as well as to fund capital expenditures for ongoing construction and capital maintenance and for general corporate purposes. |
| | (i) | Debt issuance has a floating interest rate. |
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