Segment Information (Tables)

9 Months Ended

Sep. 30, 2013

The management of TECO Energy reports segments based on each subsidiary’s contribution of revenues, net income and total assets as required by the accounting guidance for disclosures about segments of an enterprise and related information. All significant intercompany transactions are eliminated in the Consolidated Condensed Financial Statements of TECO Energy, but are included in determining reportable segments.


Segment Information ⁽¹⁾
(millions) Three months ended Sept. 30,	Tampa Electric		Peoples Gas		TECO Coal			TECO Guatemala⁽²⁾			Other & Eliminations			TECO Energy
2013
Revenues - external	$	556.2	$	83.1	$	123.7		$	0.0		$	2.9		$	765.9
Sales to affiliates		0.2		0.3		0.0			0.0			(0.5	)		0.0

Total revenues		556.4		83.4		123.7			0.0			2.4			765.9
Depreciation and amortization		62.2		13.4		9.3			0.0			0.5			85.4
Total interest charges ⁽¹⁾		22.8		3.4		1.6			0.0			13.7			41.5
Internally allocated interest ⁽¹⁾		0.0		0.0		1.5			0.0			(1.5	)		0.0
Provision (benefit) for income taxes		42.7		3.4		(1.2	)		0.0			(7.3	)		37.6
Net income from continuing operations		68.7		5.4		(1.4	)		0.0			(9.8	)		62.9
Loss from discontinued operations attributable to TECO Energy		0.0		0.0		0.0			0.0			(0.1	)		(0.1	)
Net income attributable to TECO Energy	$	68.7	$	5.4	($	1.4	)	$	0.0		($	9.9	)	$	62.8

2012
Revenues - external	$	574.9	$	95.2	$	186.0		$	0.0		$	2.5		$	858.6
Sales to affiliates		0.3		0.0		0.0			0.0			(0.3	)		0.0

Total revenues		575.2		95.2		186.0			0.0			2.2			858.6
Depreciation and amortization		60.2		12.7		10.2			0.0			0.3			83.4
Total interest charges ⁽¹⁾		26.7		3.7		1.9			0.0			12.3			44.6
Internally allocated interest ⁽¹⁾		0.0		0.0		1.7			0.0			(1.7	)		0.0
Provision (benefit) for income taxes		45.7		4.4		6.0			0.0			(4.4	)		51.7
Net income from continuing operations		73.5		7.0		17.4			0.0			(7.7	)		90.2
Loss from discontinued operations attributable to TECO Energy		0.0		0.0		0.0			(42.6	)		(3.6	)		(46.2	)
Net income attributable to TECO Energy	$	73.5	$	7.0	$	17.4		($	42.6	)	($	11.3	)	$	44.0


(millions) Nine months ended Sept. 30,
2013
Revenues - external	$	1,476.6	$	306.3	$	370.0		$	0.0		$	10.0		$	2,162.9
Sales to affiliates		0.7		0.8		0.0			0.0			(1.5	)		0.0

Total revenues		1,477.3		307.1		370.0			0.0			8.5			2,162.9
Depreciation and amortization		182.0		39.6		28.5			0.0			1.2			251.3
Total interest charges ⁽¹⁾		69.5		10.1		5.0			0.0			42.0			126.6
Internally allocated interest ⁽¹⁾		0.0		0.0		4.8			0.0			(4.8	)		0.0
Provision (benefit) for income taxes		94.0		17.1		(2.2	)		0.0			(19.9	)		89.0
Net income from continuing operations		151.1		27.1		2.3			0.0			(24.8	)		155.7
Loss from discontinued operations attributable to TECO Energy		0.0		0.0		0.0			0.0			0.0			0.0
Net income attributable to TECO Energy	$	151.1	$	27.1	$	2.3		$	0.0		($	24.8	)	$	155.7

2012
Revenues - external	$	1,527.8	$	298.9	$	474.1		$	0.0		$	7.4		$	2,308.2
Sales to affiliates		0.8		1.3		0.0			0.0			(2.1	)		0.0

Total revenues		1,528.6		300.2		474.1			0.0			5.3			2,308.2
Depreciation and amortization		177.2		37.7		31.0			0.0			1.0			246.9
Total interest charges ⁽¹⁾		86.2		12.6		5.5			0.0			36.5			140.8
Internally allocated interest ⁽¹⁾		0.0		0.0		5.2			0.0			(5.2	)		0.0
Provision (benefit) for income taxes		96.5		17.0		13.2			0.0			(13.5	)		113.2
Net income from continuing operations		156.9		27.0		39.4			0.0			(22.9	)		200.4
Loss from discontinued operations attributable to TECO Energy		0.0		0.0		0.0			(28.6	)		(4.2	)		(32.8	)
Net income attributable to TECO Energy	$	156.9	$	27.0	$	39.4		($	28.6	)	($	27.1	)	$	167.6


Segment Information ⁽¹⁾
(millions)	Tampa Electric		Peoples Gas		TECO Coal		TECO Guatemala⁽²⁾		Other & Eliminations			TECO Energy
At Sept. 30, 2013
Total assets	$	6,149.8	$	1,014.3	$	339.3	$	0.0	($	109.3	)	$	7,394.1

At Dec. 31, 2012
Total assets	$	6,042.3	$	1,009.9	$	356.6	$	164.9	($	238.8	)	$	7,334.9

(1)

Segment net income is reported on a basis that includes internally allocated financing costs. Total interest charges include internally allocated interest costs that for January 2012 through September 2013 were at a pretax rate of 6.00% based on an average of each subsidiary’s equity and indebtedness to TECO Energy assuming a 50/50 debt/equity capital structure.

(2)

All periods have been adjusted to reflect the reclassification of results from operations to discontinued operations for TECO Guatemala, Inc. and certain charges at Parent that directly relate to TECO Guatemala, Inc. Revenues for TECO Guatemala, Inc. that were reclassified to discontinued operations were $31.5 million and $100.4 million for the three and nine months ended Sept. 30, 2012, respectively. There were no revenues reclassified for the three or nine months ended Sept. 30, 2013. See Note 15 for additional information.

Tampa Electric Company [Member]

Schedule of Segment Information


(millions) Three months ended Sept. 30,	Tampa Electric		Peoples Gas		Other & Eliminations			Tampa Electric Company
2013
Revenues - external	$	556.3	$	83.1	$	0.0		$	639.4
Sales to affiliates		0.1		0.3		(0.4	)		0.0

Total revenues		556.4		83.4		(0.4	)		639.4
Depreciation and amortization		62.2		13.4		0.0			75.6
Total interest charges		22.8		3.4		0.0			26.2
Provision for income taxes		42.7		3.4		0.0			46.1
Net income	$	68.7	$	5.4	$	0.0		$	74.1

2012
Revenues - external	$	575.1	$	95.2	$	0.0		$	670.3
Sales to affiliates		0.1		0.0		(0.1	)		0.0

Total revenues		575.2		95.2		(0.1	)		670.3
Depreciation and amortization		60.2		12.7		0.0			72.9
Total interest charges		26.7		3.7		0.0			30.4
Provision for income taxes		45.7		4.4		0.0			50.1
Net income	$	73.5	$	7.0	$	0.0		$	80.5


Nine months ended Sept. 30,
2013
Revenues - external	$	1,477.0	$	306.3	$	0.0		$	1,783.3
Sales to affiliates		0.3		0.8		(1.1	)		0.0

Total revenues		1,477.3		307.1		(1.1	)		1,783.3
Depreciation and amortization		182.0		39.6		0.0			221.6
Total interest charges		69.5		10.1		0.0			79.6
Provision for income taxes		94.0		17.1		0.0			111.1
Net income	$	151.1	$	27.1	$	0.0		$	178.2

Total assets at Sept. 30, 2013	$	5,885.5	$	979.1	($	16.7	)	$	6,847.9

2012
Revenues - external	$	1,528.3	$	298.9	$	0.0		$	1,827.2
Sales to affiliates		0.3		1.3		(1.6	)		0.0

Total revenues		1,528.6		300.2		(1.6	)		1,827.2
Depreciation and amortization		177.2		37.7		0.0			214.9
Total interest charges		86.2		12.6		0.0			98.8
Provision for income taxes		96.5		17.0		0.0			113.5
Net income	$	156.9	$	27.0	$	0.0		$	183.9

Total assets at Dec. 31, 2012	$	5,760.4	$	970.9	$	13.3		$	6,744.6

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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