Duke Energy 2008 Annual Report Download - page 33

2008 Summary Annual Report Duke Energy 31
Forward-Looking Statement
The following is a reconciliation of 2008 adjusted segment EBIT to reported segment EBIT:
Special
Items – Economic
Emission Hedges
Adjusted Allowances (Mark-to- Reported
EBIT Impairment Market) EBIT
U.S. Franchised Electric and Gas $ 2,398 $ — $ — $ 2,398
Commercial Power 421 (82) (75) 264
International Energy 411 — — 411
Total segment EBIT $ 3,230 $ (82) $ (75) $ 3,073
This report includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements
are based on management’s beliefs and assumptions. These for-
ward-looking statements are identified by terms and phrases such
as “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,”
“should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “poten-
tial,” “forecast,” “target” and similar expressions. Forward-looking
statements involve risks and uncertainties that may cause actual
results to be materially different from the results predicted. Factors
that could cause actual results to differ materially from those indi-
cated in any forward-looking statement include, but are not limited
to: state, federal and foreign legislative and regulatory initiatives,
including costs of compliance with existing and future environmen-
tal requirements; state, federal and foreign legislative and regula-
tory initiatives and rulings that affect cost and investment recovery
or have an impact on rate structures; costs and effects of legal and
administrative proceedings, settlements, investigations and claims;
industrial, commercial and residential growth in Duke Energy’s
service territories; additional competition in electric markets and
continued industry consolidation; political and regulatory uncer-
tainty in other countries in which Duke Energy conducts business;
the influence of weather and other natural phenomena on Duke
Energy’s operations, including the economic, operational and other
effects of storms, hurricanes, droughts and tornados; the timing
and extent of changes in commodity prices, interest rates and
foreign currency exchange rates; unscheduled generation outages,
unusual maintenance or repairs and electric transmission system
constraints; the performance of electric generation and of projects
undertaken by Duke Energy’s nonregulated businesses; the
results of financing efforts, including Duke Energy’s ability to obtain
financing on favorable terms, which can be affected by various fac-
tors, including Duke Energy’s credit ratings and general economic
conditions; declines in the market prices of equity securities and
resultant cash funding requirements for Duke Energy’s defined ben-
efit pension plans; the level of credit worthiness of counterparties to
Duke Energy’s transactions; employee workforce factors, including
the potential inability to attract and retain key personnel; growth in
opportunities for Duke Energy’s business units, including the timing
and success of efforts to develop domestic and international power
and other projects; construction and development risks associated
with the completion of Duke Energy’s capital investment projects
in existing and new generation facilities, including risks related to
financing, obtaining and complying with terms of permits, meeting
construction budgets and schedules, and satisfying operating and
environmental performance standards, as well as the ability to
recover costs from ratepayers in a timely manner; the effect of
accounting pronouncements issued periodically by accounting
standard-setting bodies; and the ability to successfully complete
merger, acquisition or divestiture plans.
In light of these risks, uncertainties and assumptions, the events
described in the forward-looking statements might not occur or
might occur to a different extent or at a different time than Duke
Energy has described. Duke Energy undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.