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Business Segments (Tables)
9 Months Ended
Sep. 30, 2016
Segment Reporting Information [Line Items]  
Business Segment Data
 
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
Total

 
 
 
 
 
 
 
Regulated

 
International

 
Commercial

 
Reportable

 
 
 
 
 
 
(in millions)
Utilities

 
Energy

 
Portfolio

 
Segments

 
Other

 
Eliminations

 
Consolidated

Unaffiliated revenues
$
6,421

 
$
245

 
$
140

 
$
6,806

 
$
15

 
$

 
$
6,821

Intersegment revenues
9

 

 

 
9

 
17

 
(26
)
 

Total revenues
$
6,430

 
$
245

 
$
140

 
$
6,815

 
$
32

 
$
(26
)
 
$
6,821

Segment income (loss)(a)(b)
$
1,200

 
$
64

 
$
(21
)
 
$
1,243

 
$
(189
)
 
$

 
$
1,054

Add back noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
5

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

Net income
 
 
 
 
 
 
 
 
 
 
 
 
$
1,181

Segment assets
$
114,707

 
$
3,153

 
$
4,414

 
$
122,274

 
$
7,228

 
$
184

 
$
129,686

(a)
Other includes after-tax charges for costs to achieve mergers of $52 million, primarily due to interest expense related to the Piedmont acquisition financing, and cost savings initiatives of $12 million primarily due to severance costs.
(b)
Commercial Portfolio includes an after-tax impairment of $45 million related to certain equity method investments in renewable energy projects. See Note 13, Variable Interest Entities, for additional information.
(c)
Represents an income tax benefit resulting from deferred tax liability adjustments related to previously sold businesses. See Note 2, Acquisitions and Dispositions, for further information.
 
Three Months Ended September 30, 2015
 
 
 
 
 
 
 
Total

 
 
 
 
 
 
 
Regulated

 
International

 
Commercial

 
Reportable

 
 
 
 
 
 
(in millions)
Utilities

 
Energy

 
Portfolio

 
Segments

 
Other

 
Eliminations

 
Consolidated

Unaffiliated revenues
$
6,138

 
$
281

 
$
66

 
$
6,485

 
$
(2
)
 
$

 
$
6,483

Intersegment revenues
9

 

 

 
9

 
19

 
(28
)
 

Total revenues
$
6,147

 
$
281

 
$
66

 
$
6,494

 
$
17

 
$
(28
)
 
$
6,483

Segment income (loss)(a)(b)
$
905

 
$
69

 
$
8

 
$
982

 
$
(45
)
 
$

 
$
937

Add back noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
3

Loss from discontinued operations, net of tax
 
 
 
 
 
 
 
 
 
 
 
 
(5
)
Net income
 
 
 
 
 
 
 
 
 
 
 
 
$
935

(a)
Regulated Utilities includes an after-tax charge of $56 million related to the Edwardsport settlement. See Note 4 for further information.
(b)
Other includes $15 million of after-tax costs to achieve the 2012 Progress Energy merger.
 
Nine Months Ended September 30, 2016
 
 
 
 
 
 
 
Total

 
 
 
 
 
 
 
Regulated

 
International

 
Commercial

 
Reportable

 
 
 
 
 
 
(in millions)
Utilities

 
Energy

 
Portfolio

 
Segments

 
Other

 
Eliminations

 
Consolidated

Unaffiliated revenues
$
16,761

 
$
761

 
$
366

 
$
17,888

 
$
39

 
$

 
$
17,927

Intersegment revenues
27

 

 

 
27

 
52

 
(79
)
 

Total revenues
$
16,788

 
$
761

 
$
366

 
$
17,915

 
$
91

 
$
(79
)
 
$
17,927

Segment income (loss)(a)(b)(c)
$
2,613

 
$
85

 
$
20

 
$
2,718

 
$
(463
)
 
$

 
$
2,255

Add back noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
13

Income from discontinued operations, net of tax(d)
 
 
 
 
 
 
 
 
 
 
 
 
124

Net income
 
 
 
 
 
 
 
 
 
 
 
 
$
2,392

(a)
Other includes after-tax charges for costs to achieve mergers of $195 million, primarily due to losses on forward-starting interest rate swaps related to the Piedmont acquisition, and cost savings initiatives of $39 million primarily due to severance costs. See Note 10 for additional information related to the swaps.
(b)
International Energy includes an after-tax impairment charge of $145 million. See Note 2 for additional information.
(c)
Commercial Portfolio includes an after-tax impairment of $45 million related to certain equity method investments in renewable energy projects. See Note 13, Variable Interest Entities, for additional information.
(d)
Includes income tax benefit of $122 million resulting from deferred tax liability adjustments related to previously sold businesses. See Note 2 for further information.
 
Nine Months Ended September 30, 2015
 
 
 
 
 
 
 
Total

 
 
 
 
 
 
 
Regulated

 
International

 
Commercial

 
Reportable

 
 
 
 
 
 
(in millions)
Utilities

 
Energy

 
Portfolio

 
Segments

 
Other

 
Eliminations

 
Consolidated

Unaffiliated revenues
$
17,062

 
$
841

 
$
214

 
$
18,117

 
$
20

 
$

 
$
18,137

Intersegment revenues
28

 

 

 
28

 
58

 
(86
)
 

Total revenues
$
17,090

 
$
841

 
$
214

 
$
18,145

 
$
78

 
$
(86
)
 
$
18,137

Segment income (loss)(a)(b)(c)
$
2,311

 
$
157

 
$
(15
)
 
$
2,453

 
$
(139
)
 
$
(4
)
 
$
2,310

Add back noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
10

Income from discontinued operations, net of tax(d)
 
 
 
 
 
 
 
 
 
 
 
 
29

Net income
 
 
 
 
 
 
 
 
 
 
 
 
$
2,349

(a)
Regulated Utilities includes an after-tax charge of $56 million related to the Edwardsport settlement. Refer to Note 4 for further information.
(b)    Other includes $42 million of after-tax costs to achieve the 2012 Progress Energy merger.
(c)
Commercial Portfolio includes state tax expense of $41 million, resulting from changes to state apportionment factors due to the sale of the Midwest Generation Disposal Group, that does not qualify for discontinued operations. Refer to Note 2 for further information related to the sale.
(d)
Includes after-tax impact of $53 million for the settlement agreement reached in a lawsuit related to the Midwest Generation Disposal Group. Refer to Note 5 for further information related to the lawsuit.
The following table provides the amount of Other net expense.
 
Three Months Ended
Nine Months Ended
 
September 30,
September 30,
(in millions)
2016

 
2015

2016

 
2015

Duke Energy Carolinas
$
(16
)
 
$
(10
)
$
(50
)
 
$
(28
)
Progress Energy(a)
(45
)
 
(3
)
(139
)
 
(87
)
Duke Energy Progress
(10
)
 
(4
)
(26
)
 
(12
)
Duke Energy Florida
(5
)
 
(3
)
(14
)
 
(9
)
Duke Energy Ohio
(10
)
 
(12
)
(29
)
 
(20
)
Duke Energy Indiana
(3
)
 
(2
)
(10
)
 
(6
)

(a)
Other for Progress Energy also includes interest expense on corporate debt instruments of $55 million and $166 million for the three and nine months ended September 30, 2016, respectively, and $61 million and $180 million for the three and nine months ended September 30, 2015, respectively.