Duke Energy 2010 Annual Report Download - page 4

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CREATING THE LEADING U.S. UTILITY
Notes: All data as of 12/31/2010.
1 Based on adjusted diluted earnings per share.
2 Excludes purchased power. Duke Energy and combined amounts exclude approximately 4 gigawatts (GW) of Duke Energy International assets.
3 Total assets are a summation of the two stand-alone companies and do not include any pro-forma purchase accounting adjustments from this transaction.
4 Earnings before interest and taxes (EBIT); excludes Duke Energy operations labeled as “Other,” and Progress Energy operations labeled as “Corporate and Other Businesses.”
+
KEY MERGER STATISTICS
OH
NC
SC
KY
FL
IN
Duke Energy
Progress Energy
Duke Progress
Energy Energy Combined Rank
Market Cap. (billions) $23.7 $12.8 $36.5 #1
Electric Customers (millions) 4.0 3.1 7.1 #1
Generation Capacity (gigawatts) 35.4
2 21.8
2 57.2
2 #1
Total Assets (billions) $59 $33 $92
3 #1
Estimated Rate Base (billions) $22 $17 $39 #1
Regulated Adjusted EBIT Mix 4 77% 100% 85% N/A
For more, visit www.duke-energy.com/progress-energy-merger.
DIVERSE SERVICE TERRITORIES
On January 10, 2011, Duke Energy and Progress Energy announced an agreement to combine their
companies. Subject to shareholder and regulatory approval, this merger will create the nation’s largest utility,
with more than 7 million customers in six service territories. It is targeted to close by the end of 2011.
EXPECTED
CUSTOMER
BENEFITS:
■Fuel savings and joint dispatch
efficiencies for customers in
the Carolinas
■Improved operating
efficiencies, over time,
for all regulated customers
EXPECTED
INVESTOR
BENEFITS:
■Earnings accretion in the
first year of the merger 1
■Strong credit ratings, balance
sheet, cash flow, and dividend
■Long-term earnings growth
target of 4 to 6 percent 1
EXPECTED
EMPLOYEE
BENEFITS:
■Expanded career growth
opportunities
2