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Financial Information by Business Segment
 9 Months Ended
Sep. 30, 2012
Financial Information By Business Segment Disclosure [Abstract]  
Financial Information by Business Segment

3.       FINANCIAL INFORMATION BY BUSINESS SEGMENT

PROGRESS ENERGY

Effective with the consummation of the merger with Duke Energy on July 2, 2012, our reportable segments changed based on the financial information the chief decision maker evaluates for the allocation of resources and assessing performance. Our sole reportable segment is now Franchised Electric, which is primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina, South Carolina and Florida. These electric operations also distribute and sell electricity to other utilities, primarily on the east coast of the United States. In addition to the reportable operating segment, Other now presents the remainder of our operations, including the Parent and PESC and other miscellaneous nonregulated businesses, as well as costs to achieve the merger with Duke Energy. Also effective with the consummation of the merger, management began evaluating segment performance based on Segment Income. Segment Income is defined as income from continuing operations net of income attributable to noncontrolling interests.

Prior periods' segment information has been recast to conform to the current year presentation. None of these segment changes impact the Progress Energy Registrants' reported consolidated revenues or net income.

Products and services are sold between the affiliate companies of Duke Energy at cost.

BUSINESS SEGMENT DATA         
(in millions)Unaffiliated Revenues Affiliated Revenues Total Revenues Segment Income/ Consolidated Net Income(a)
Three months ended September 30, 2012      
Franchised Electric$2,747 $39 $2,786 $333
 Total reportable segment 2,747  39  2,786  333
Other 3  0  3  (181)(b)
Eliminations 0  (1)  (1)  0
Add back of noncontrolling interest component 0  0  0  2
Income from discontinued operations, net of tax 0  0  0  3
 Total consolidated$2,750 $38 $2,788 $157
Three months ended September 30, 2011      
Franchised Electric$2,750 $0 $2,750 $408
 Total reportable segment 2,750  0  2,750  408
Other 3  0  3  (117)(b)
Add back of noncontrolling interest component 0  0  0  2
 Total consolidated$2,753 $0 $2,753 $293
              
(in millions)Unaffiliated Revenues Affiliated Revenues Total Revenues Segment Income/ Consolidated Net Income(a)
Nine months ended September 30, 2012      
Franchised Electric$7,132 $40 $7,172 $636
 Total reportable segment 7,132  40  7,172  636
Other 8  0  8  (278)(b)
Eliminations 0  (2)  (2)  0
Add back of noncontrolling interest component 0  0  0  5
Income from discontinued operations, net of tax 0  0  0  10
 Total consolidated$7,140 $38 $7,178 $373
Nine months ended September 30, 2011      
Franchised Electric$7,188 $1 $7,189 $874
 Total reportable segment 7,188  1  7,189  874
Other 8  0  8  (219)(b)
Eliminations 0  (1)  (1)  0
Add back of noncontrolling interest component 0  0  0  5
Loss from discontinued operations, net of tax 0  0  0  (4)
 Total consolidated$7,196 $0 $7,196 $656
              
(a) Segment income excludes noncontrolling interests and results of entities classified as discontinued operations.
(b) Segment income includes after-tax costs to achieve the merger with Duke Energy of $132 million and $149 million for the three and nine months ended September 30, 2012, respectively, and $9 million and $27 million for the three and nine months ended September 30, 2011, respectively.
              

SEGMENT ASSETS     
        
Segment assets in the following table exclude all intercompany assets between the Progress Energy Registrants.
        
(in millions)September 30, 2012 December 31, 2011
Franchised Electric$36,135 $34,166
 Total reportable segment 36,135  34,166
Other 549  765
Reclassifications(a) (33)  0
 Total consolidated assets$36,651 $34,931
        
(a) Primarily represents reclassification of federal tax balances in consolidation.
        

PEC and PEF

PEC and PEF each have one reportable operating segment, Franchised Electric, which generates, transmits, distributes and sells electricity in portions of North Carolina and South Carolina and in portions of Florida, respectively.

The remainder of PEC's and PEF's operations are classified as Other. While not considered reportable segments for either company, PEC's and PEF's Other consists of each respective company's costs to achieve the merger with Duke Energy. PEC's Other had a net loss of $109 million and $5 million for the three months ended September 30, 2012 and 2011, respectively, and $119 million and $14 million for the nine months ended September 30, 2012 and 2011, respectively. PEF's Other had a net loss of $23 million and $4 million for the three months ended September 30, 2012 and 2011, respectively, and $30 million and $13 million for the nine months ended September 30, 2012 and 2011, respectively.

The Franchised Electric operating segments own substantially all of PEC's and PEF's assets at September 30, 2012 and December 31, 2011.