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
2017
Operating revenues	$	5,729	$	5,555		$	6,482		$	5,799		$	23,565
Operating income	1,437		1,387			1,695			1,262			5,781
Income from continuing operations	717		691			957			705			3,070
Loss from discontinued operations, net of tax	—		(2		)	(2		)	(2		)	(6		)
Net income	717		689			955			703			3,064
Net income attributable to Duke Energy Corporation	716		686			954			703			3,059
Earnings per share:
Income from continuing operations attributable to Duke Energy Corporation common stockholders
Basic	$	1.02	$	0.98		$	1.36		$	1.00		$	4.37
Diluted	$	1.02	$	0.98		$	1.36		$	1.00		$	4.37
Loss from discontinued operations attributable to Duke Energy Corporation common stockholders
Basic	$	—	$	—		$	—		$	—		$	(0.01	)
Diluted	$	—	$	—		$	—		$	—		$	(0.01	)
Net income attributable to Duke Energy Corporation common stockholders
Basic	$	1.02	$	0.98		$	1.36		$	1.00		$	4.36
Diluted	$	1.02	$	0.98		$	1.36		$	1.00		$	4.36
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

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(16	)	$	(30	)	$	(23	)	$	(34	)	$	(103	)
Regulatory Settlements (see Note 4)	—			—			(135		)	(23		)	(158		)
Commercial Renewables Impairments (see Notes 10 and 11)	—			—			(84		)	(18		)	(102		)
Impacts of the Tax Act (see Note 22)	—			—			—			102			102
Total	$	(16	)	$	(30	)	$	(242	)	$	27		$	(261	)
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	)

DUKE ENERGY CAROLINAS



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2017
Operating revenues	$	1,716	$	1,729	$	2,136	$	1,721	$	7,302
Operating income	484		485		777		403		2,149
Net income	270		273		466		205		1,214
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

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(4	)	$	(6	)	$	(5	)	$	(5	)	$	(20	)
Impacts of the Tax Act (see Note 22)	—			—			—			(15		)	(15		)
Total	$	(4	)	$	(6	)	$	(5	)	$	(20	)	$	(35	)
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	)

PROGRESS ENERGY



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2017
Operating revenues	$	2,179	$	2,392	$	2,864	$	2,348	$	9,783
Operating income	487		591		657		493		2,228
Net income	201		277		343		447		1,268
Net income attributable to Parent	199		274		341		444		1,258
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

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(4	)	$	(7	)	$	(6	)	$	(6	)	$	(23	)
Regulatory Settlements (see Note 4)	—			—			(135		)	(23		)	(158		)
Impacts of the Tax Act (see Note 22)	—			—			—			246			246
Total	$	(4	)	$	(7	)	$	(141	)	$	217		$	65
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	)

DUKE ENERGY PROGRESS



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2017
Operating revenues	$	1,219	$	1,199	$	1,460	$	1,251	$	5,129
Operating income	286		282		411		256		1,235
Net income	147		154		246		168		715
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

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(2	)	$	(4	)	$	(4	)	$	(4	)	$	(14	)
Regulatory Settlements (see Note 4)	—			—			—			(23		)	(23		)
Impacts of the Tax Act (see Note 22)	—			—			—			40			40
Total	$	(2	)	$	(4	)	$	(4	)	$	13		$	3
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	)

DUKE ENERGY FLORIDA



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2017
Operating revenues	$	959	$	1,191	$	1,401	$	1,095	$	4,646
Operating income	196		306		240		234		976
Net income	90		158		120		344		712
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

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(2	)	$	(3	)	$	(2	)	$	(2	)	$	(9	)
Regulatory Settlements (see Note 4)	—			—			(135		)	—			(135		)
Impacts of the Tax Act (see Note 22)	—			—			—			226			226
Total	$	(2	)	$	(3	)	$	(137	)	$	224		$	82
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	)

DUKE ENERGY OHIO



	First		Second		Third			Fourth
(in millions)	Quarter		Quarter		Quarter			Quarter		Total
2017
Operating revenues	$	518	$	437	$	471		$	497	$	1,923
Operating income	83		65		102			76		326
Loss from discontinued operations, net of tax	—		—		(1		)	—		(1		)
Net income	42		30		55			65		192
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

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(1	)	$	(1	)	$	(2	)	$	(2	)	$	(6	)
Impacts of the Tax Act (see Note 22)	—			—			—			23			23
Total	$	(1	)	$	(1	)	$	(2	)	$	21		$	17
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	)

DUKE ENERGY INDIANA



	First		Second		Third		Fourth
(in millions)	Quarter		Quarter		Quarter		Quarter		Total
2017
Operating revenues	$	758	$	742	$	802	$	745	$	3,047
Operating income	186		210		230		170		796
Net income	91		106		121		36		354
2016
Operating revenues	$	714	$	702	$	809	$	733	$	2,958
Operating income	176		174		239		176		765
Net income	95		85		129		72		381

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(1	)	$	(2	)	$	(2	)	$	(1	)	$	(6	)
Impacts of the Tax Act (see Note 22)	—			—			—			(55		)	(55		)
Total	$	(1	)	$	(2	)	$	(2	)	$	(56	)	$	(61	)
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	)

PIEDMONT

The following tables include data for Piedmont's fiscal years ending December 31, 2017, and October 31, 2016.



	First		Second			Third			Fourth
(in millions)	Quarter		Quarter			Quarter			Quarter			Total
2017
Operating revenues	$	500	$	201		$	183		$	444		$	1,328
Operating income (loss)	170		5			(4		)	115			286
Net income (loss)	95		(8		)	(11		)	63			139
2016
Operating revenues	$	464	$	353		$	160		$	172		$	1,149
Operating income (loss)	171		104			—			(50		)	225
Net income (loss)	98		63			(7		)	39			193

For the two months ended December 31, 2016, Piedmont's operating revenues, operating income, and net income were $322 million, $96 million and $54 million, respectively.

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
2017
Costs to Achieve Piedmont Merger (see Note 2)	$	(6	)	$	(13	)	$	(8	)	$	(19	)	$	(46	)
Impacts of the Tax Act (see Note 22)	—			—			—			2			2
Total	$	(6	)	$	(13	)	$	(8	)	$	(17	)	$	(44	)
2016
Costs to Achieve Mergers	$	(6	)	$	(2	)	$	(1	)	$	(53	)	$	(62	)

For the two months ended December 31, 2016, Piedmont's costs to achieve merger were $7 million.