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Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2019
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

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
6,163

 
$
5,873

 
$
6,940

 
$
6,103

 
$
25,079

Operating income
1,373

 
1,298

 
1,929

 
1,109

 
5,709

Income from continuing operations
893

 
748

 
1,323

 
614

 
3,578

Loss from discontinued operations, net of tax

 

 

 
(7
)
 
(7
)
Net income
893

 
748

 
1,323

 
607

 
3,571

Net income available to Duke Energy Corporation common stockholders
900

 
820

 
1,327

 
660

 
3,707

Earnings per share:
 
 
 
 
 
 
 
 
 
Income from continuing operations available to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic and diluted
$
1.24

 
$
1.12

 
$
1.82

 
$
0.89

 
$
5.07

Loss from discontinued operations attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic and diluted
$

 
$

 
$

 
$
(0.01
)
 
$
(0.01
)
Net income available to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic and diluted
$
1.24

 
$
1.12

 
$
1.82

 
$
0.88

 
$
5.06

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
6,135

 
$
5,643

 
$
6,628

 
$
6,115

 
$
24,521

Operating income
1,256

 
979

 
1,579

 
871

 
4,685

Income from continuing operations
622

 
507

 
1,062

 
434

 
2,625

(Loss) Income from discontinued operations, net of tax

 
(5
)
 
4

 
20

 
19

Net income
622

 
502

 
1,066

 
454

 
2,644

Net income attributable to Duke Energy Corporation
620

 
500

 
1,082

 
464

 
2,666

Earnings per share:
 
 
 
 
 
 
 
 
 
Income from continuing operations attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic and diluted
$
0.88

 
$
0.72

 
$
1.51

 
$
0.62

 
$
3.73

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

 
$
(0.01
)
 
$

 
$
0.03

 
$
0.03

Net income attributable to Duke Energy Corporation common stockholders
 
 
 
 
 
 
 
 
 
Basic and diluted
$
0.88

 
$
0.71

 
$
1.51

 
$
0.65

 
$
3.76

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

2019
 
 
 
 
 
 
 
 
 
Impairment Charges (see Notes 4 and 13)
$

 
$

 
$
25

 
$
(14
)
 
$
11

Total
$

 
$

 
$
25

 
$
(14
)
 
$
11

2018
 
 
 
 
 
 
 
 
 

Costs to Achieve Piedmont Merger (see Note 2)
$
(17
)
 
$
(20
)
 
$
(16
)
 
$
(31
)
 
$
(84
)
Regulatory and Legislative Impacts (see Note 4)
(86
)
 
(179
)
 

 

 
(265
)
Sale of Retired Plant (see Note 3)
(107
)
 

 

 

 
(107
)
Impairment Charges (see Notes 4, 12 and 13)
(55
)
 

 
(93
)
 
(60
)
 
(208
)
Severance Charges (see Note 21)

 

 

 
(187
)
 
(187
)
Impacts of the Tax Act (see Note 24)
(76
)
 

 
3

 
53

 
(20
)
Total
$
(341
)
 
$
(199
)
 
$
(106
)
 
$
(225
)
 
$
(871
)

DUKE ENERGY CAROLINAS
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,744

 
$
1,713

 
$
2,162

 
$
1,776

 
$
7,395

Operating income
435

 
451

 
793

 
347

 
2,026

Net income
293

 
301

 
590

 
219

 
1,403

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,763

 
$
1,672

 
$
2,090

 
$
1,775

 
$
7,300

Operating income
482

 
224

 
713

 
241

 
1,660

Net income
323

 
117

 
496

 
135

 
1,071

The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2018
 
 
 
 
 
 
 
 
 
Costs to Achieve Piedmont Merger (see Note 2)
$
(4
)
 
$
(2
)
 
$
(2
)
 
$
(1
)
 
$
(9
)
Regulatory and Legislative Impacts (see Note 4)
(19
)
 
(179
)
 

 

 
(198
)
Severance Charges (see Note 21)

 

 

 
(102
)
 
(102
)
Impacts of the Tax Act (see Note 24)

 

 
(1
)
 

 
(1
)
Total
$
(23
)
 
$
(181
)
 
$
(3
)
 
$
(103
)
 
$
(310
)

PROGRESS ENERGY
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
2,572

 
$
2,744

 
$
3,242

 
$
2,644

 
$
11,202

Operating income
488

 
580

 
786

 
447

 
2,301

Net income
248

 
329

 
521

 
229

 
1,327

Net income attributable to Parent
249

 
328

 
521

 
229

 
1,327

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
2,576

 
$
2,498

 
$
3,045

 
$
2,609

 
$
10,728

Operating income
447

 
484

 
663

 
334

 
1,928

Net income
237

 
267

 
406

 
123

 
1,033

Net income attributable to Parent
235

 
265

 
404

 
123

 
1,027

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

2019
 
 
 
 
 
 
 
 
 
Impairment Charges (see Note 4)
$

 
$

 
$
25

 
$
11

 
$
36

Total
$

 
$

 
$
25

 
$
11

 
$
36

2018
 
 
 
 
 
 
 
 
 

Costs to Achieve Piedmont Merger (see Note 2)
$
(4
)
 
$
(3
)
 
$
(1
)
 
$
(2
)
 
$
(10
)
Regulatory and Legislative Impacts (see Note 4)
(67
)
 

 

 

 
(67
)
Impairment Charges (see Note 4)

 

 

 
(60
)
 
(60
)
Severance Charges (see Note 21)

 

 

 
(69
)
 
(69
)
Impacts of the Tax Act (see Note 24)
(1
)
 

 
(5
)
 
(19
)
 
(25
)
Total
$
(72
)
 
$
(3
)
 
$
(6
)
 
$
(150
)
 
$
(231
)

DUKE ENERGY PROGRESS
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,484

 
$
1,387

 
$
1,688

 
$
1,398

 
$
5,957

Operating income
300

 
259

 
373

 
236

 
1,168

Net income
203

 
169

 
278

 
155

 
805

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,460

 
$
1,291

 
$
1,582

 
$
1,366

 
$
5,699

Operating income
269

 
233

 
330

 
227

 
1,059

Net income
177

 
139

 
216

 
135

 
667

The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2018
 
 
 
 
 
 
 
 
 
Costs to Achieve Piedmont Merger (see Note 2)
$
(2
)
 
$
(2
)
 
$
(1
)
 
$
(1
)
 
$
(6
)
Regulatory and Legislative Impacts (see Note 4)
(67
)
 

 

 

 
(67
)
Severance Charges (see Note 21)

 

 

 
(52
)
 
(52
)
Impacts of the Tax Act (see Note 24)

 

 
(4
)
 
(15
)
 
(19
)
Total
$
(69
)
 
$
(2
)
 
$
(5
)
 
$
(68
)
 
$
(144
)

DUKE ENERGY FLORIDA
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,086

 
$
1,353

 
$
1,548

 
$
1,244

 
$
5,231

Operating income
188

 
321

 
413

 
205

 
1,127

Net income
96

 
201

 
289

 
106

 
692

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
1,115

 
$
1,203

 
$
1,462

 
$
1,241

 
$
5,021

Operating income
173

 
245

 
331

 
107

 
856

Net income
103

 
168

 
243

 
40

 
554


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

2019
 
 
 
 
 
 
 
 
 
Impairment Charges (see Note 4)
$

 
$

 
$
25

 
$
11

 
$
36

Total
$

 
$

 
$
25

 
$
11

 
$
36

2018
 
 
 
 
 
 
 
 
 
Costs to Achieve Piedmont Merger (see Note 2)
$
(2
)
 
$
(1
)
 
$

 
$
(1
)
 
$
(4
)
Impairment Charges (see Note 4)

 

 

 
(60
)
 
(60
)
Severance Charges (see Note 21)

 

 

 
(17
)
 
(17
)
Impacts of the Tax Act (see Note 24)

 

 
(2
)
 
2

 

Total
$
(2
)
 
$
(1
)
 
$
(2
)
 
$
(76
)
 
$
(81
)

DUKE ENERGY OHIO
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
531

 
$
433

 
$
489

 
$
487

 
$
1,940

Operating income
104

 
74

 
108

 
78

 
364

Net income
69

 
47

 
74

 
48

 
238

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
524

 
$
459

 
$
469

 
$
505

 
$
1,957

Operating (loss) income
(21
)
 
77

 
139

 
93

 
288

Net (loss) income
(25
)
 
46

 
100

 
55

 
176


The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2018
 
 
 
 
 
 
 
 
 
Costs to Achieve Piedmont Merger (see Note 2)
$
(3
)
 
$
(5
)
 
$

 
$
(6
)
 
$
(14
)
Sale of Retired Plant (see Note 3)
(107
)
 

 

 

 
(107
)
Severance Charges (see Note 21)

 

 

 
(6
)
 
(6
)
Impacts of the Tax Act (see Note 24)

 

 

 
(2
)
 
(2
)
Total
$
(110
)
 
$
(5
)
 
$

 
$
(14
)
 
$
(129
)

DUKE ENERGY INDIANA
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
768

 
$
714

 
$
807

 
$
715

 
$
3,004

Operating income
169

 
148

 
235

 
133

 
685

Net income
110

 
97

 
156

 
73

 
436

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
731

 
$
738

 
$
819

 
$
771

 
$
3,059

Operating income
168

 
169

 
173

 
133

 
643

Net income
100

 
98

 
119

 
76

 
393


The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)  
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2018
 
 
 
 
 
 
 
 
 
Costs to Achieve Piedmont Merger (see Note 2)
$

 
$

 
$
(2
)
 
$

 
$
(2
)
Severance Charges (see Note 21)

 

 

 
(7
)
 
(7
)
Total
$

 
$

 
$
(2
)
 
$
(7
)
 
$
(9
)

PIEDMONT
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2019
 
 
 
 
 
 
 
 
 
Operating revenues
$
579

 
$
209

 
$
168

 
$
425

 
$
1,381

Operating income (loss)
172

 
6

 
(13
)
 
139

 
304

Net income (loss)
122

 
(7
)
 
(18
)
 
105

 
202

2018
 
 
 
 
 
 
 
 
 
Operating revenues
$
553

 
$
215

 
$
172

 
$
435

 
$
1,375

Operating income (loss)
161

 
5

 
(19
)
 
79

 
226

Net income (loss)
110

 
(8
)
 
(21
)
 
48

 
129

The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax.
 
First

 
Second

 
Third

 
Fourth

 
 
(in millions)
Quarter

 
Quarter

 
Quarter

 
Quarter

 
Total

2018
 
 
 
 
 
 
 
 
 
Costs to Achieve Piedmont Merger (see Note 2)
$
(6
)
 
$
(9
)
 
$
(11
)
 
$
(22
)
 
$
(48
)
Severance Charges (see Note 21)

 

 

 
(2
)
 
(2
)
Total
$
(6
)
 
$
(9
)
 
$
(11
)
 
$
(24
)
 
$
(50
)