Segment Information (Tables)

12 Months Ended

Dec. 31, 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 Financial Statements of TECO Energy, but are included in determining reportable segments.


Segment Information
(millions)	Tampa Electric		PGS		TECO Coal			TECO Guatemala			Other & Eliminations			TECO Energy
2013
Revenues - external	$	1,949.6	$	392.7	$	496.2		$	0.0		$	12.8		$	2,851.3
Sales to affiliates		0.9		0.8		0.0			0.0			(1.7	)		0.0

Total revenues		1,950.5		393.5		496.2			0.0			11.1			2,851.3
Depreciation and amortization		238.8		51.5		37.7			0.0			1.5			329.5
Total interest charges ⁽¹⁾		91.8		13.5		5.5			0.0			56.1			166.9
Internally allocated interest ⁽¹⁾		0.0		0.0		6.4			0.0			(6.4	)		0.0
Provision for income taxes		116.9		21.9		(3.6	)		0.0			(26.3	)		108.9
Net income from continuing operations		190.9		34.7		9.0			0.0			(36.8	)		197.8
Discontinued operations attributable to TECO, net of tax		0.0		0.0		0.0			0.0			(0.1	)		(0.1	)
Net income attributable to TECO Energy		190.9		34.7		9.0			0.0			(36.9	)		197.7

Total assets		6,126.9		1,021.2		316.3	⁽³⁾		0.0			(16.4	)		7,448.0
Capital expenditures		428.6		79.0		22.4			0.0			2.4			532.4

2012
Revenues - external	$	1,980.7	$	396.6	$	608.9		$	0.0		$	10.4		$	2,996.6
Sales to affiliates		0.6		2.3		0.0			0.0			(2.9	)		0.0

Total revenues		1,981.3		398.9		608.9			0.0			7.5			2,996.6
Depreciation and amortization		237.6		50.6		41.0			0.0			1.4			330.6
Total interest charges ⁽¹⁾		109.8		16.0		7.1			0.0			50.6			183.5
Internally allocated interest ⁽¹⁾		0.0		0.0		6.8			0.0			(6.8	)		0.0
Provision for income taxes		120.2		21.5		15.7			0.0			(19.6	)		137.8
Net income from continuing operations		193.1		34.1		50.2			0.0			(31.4	)		246.0
Discontinued operations attributable to TECO, net of tax		0.0		0.0		0.0			(29.3	)		(4.0	)		(33.3	)
Net income attributable to TECO Energy		193.1		34.1		50.2			(29.3	)		(35.4	)		212.7

Total assets		6,042.3		1,009.9		356.6	⁽³⁾		164.9			(238.8	)		7,334.9
Capital expenditures		361.7		97.3		36.3			8.6			1.2			505.1

2011
Revenues - external	$	2,019.3	$	450.5	$	733.0		$	0.0		$	7.1		$	3,209.9
Sales to affiliates		1.3		3.0		0.0			0.0			(4.3	)		0.0

Total revenues		2,020.6		453.5		733.0			0.0			2.8			3,209.9
Depreciation and amortization		222.1		48.4		45.3			0.0			1.4			317.2
Total interest charges ⁽¹⁾		121.8		17.7		6.9			0.0			51.0			197.4
Internally allocated interest ⁽¹⁾		0.0		0.0		6.7			0.0			(6.7	)		0.0
Provision for income taxes		124.8		20.6		15.4			0.0			(18.1	)		142.7
Net income from continuing operations		202.7		32.6		51.5			0.0			(36.0	)		250.8
Discontinued operations attributable to TECO, net of tax ⁽²⁾		0.0		0.0		0.0			22.4			(0.6	)		21.8
Net income attributable to TECO Energy		202.7		32.6		51.5			22.4			(36.6	)		272.6

Goodwill		0.0		0.0		0.0			55.4			0.0			55.4
Total assets		5,925.9		932.0		385.2	⁽³⁾		304.1			(240.0	)		7,307.2
Capital expenditures		314.9		71.9		56.6			7.2			3.5			454.1

(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 2013 and 2012 were at a pretax rate of 6.00%, and for 2011 were at a pretax rate of 6.25%, 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 and certain charges at Parent that directly relate to TECO Guatemala. See Note 19.

(3)	The carrying value of mineral rights as of Dec. 31, 2013, 2012 and 2011 was $12.1 million, $13.4 million and $15.0 million, respectively.

Tampa Electric Company [Member]

Schedule of Segment Information


	Tampa				Other &
(millions)	Electric		PGS		Eliminations			TEC
2013
Revenues - external	$	1,950.1	$	392.7	$	0.0		$	2,342.8
Sales to affiliates		0.4		0.8		(1.2	)		0.0

Total revenues		1,950.5		393.5		(1.2	)		2,342.8
Depreciation and amortization		238.8		51.5		0.0			290.3
Total interest charges		91.8		13.5		0.0			105.3
Provision for income taxes		116.9		21.9		0.0			138.8
Net income		190.9		34.7		0.0			225.6

Total assets		5,895.4		989.3		(8.9	)		6,875.8
Capital expenditures		428.6		79.0		0.0			507.6

2012
Revenues - external	$	1,980.9	$	397.1	$	0.0		$	2,378.0
Sales to affiliates		0.4		1.8		(2.2	)		0.0

Total revenues		1,981.3		398.9		(2.2	)		2,378.0
Depreciation and amortization		237.6		50.6		0.0			288.2
Total interest charges		109.8		16.0		0.0			125.8
Provision for income taxes		120.2		21.5		0.0			141.7
Net income		193.1		34.1		0.0			227.2

Total assets		5,760.4		970.9		13.3			6,744.6
Capital expenditures		361.7		97.3		0.0			459.0

2011
Revenues - external	$	2,020.1	$	450.5	$	0.0		$	2,470.6
Sales to affiliates		0.5		3.0		(3.5	)		0.0

Total revenues		2,020.6		453.5		(3.5	)		2,470.6
Depreciation and amortization		222.1		48.4		0.0			270.5
Total interest charges		121.8		17.7		0.0			139.5
Provision for income taxes		124.8		20.6		0.0			145.4
Net income		202.7		32.6		0.0			235.3

Total assets		5,678.0		888.4		(10.0	)		6,556.4
Capital expenditures		314.9		71.9		0.0			386.8

- 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.

+ References+ Details