Duke Energy 2011 Annual Report Download - page 135

PART II
DUKE ENERGY CORPORATION •DUKE ENERGY CAROLINAS, LLC •DUKE ENERGY OHIO, INC. •DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
Duke Energy Trading and Marketing, LLC (DETM), which is 40%
owned by Exxon Mobil Corporation and 60% owned by Duke
Energy. Prior to the sale of a 50% ownership in DukeNet to
investment funds managed by Alinda Capital Partners, LLC
(collectively Alinda) in December 2010, Other reflected the results of
Duke Energy’s 100% ownership of DukeNet. See Note 13 for
additional information related to DukeNet.
Business Segment Data(a)
(in millions)
Unaffiliated
Revenues
Intersegment
Revenues
Total
Revenues
Segment EBIT/
Consolidated
Income
from Continuing
Operations before
Income Taxes
Depreciation and
Amortization
Capital and
Investment
Expenditures
and
Acquisitions
Segment
Assets(b)
Year Ended December 31, 2011
U.S. Franchised Electric and Gas(d) $10,586 $ 33 $10,619 $2,604 $1,383 $3,717 $47,977
Commercial Power(e) 2,480 11 2,491 225 230 492 6,939
International Energy 1,467 — 1,467 679 90 114 4,539
Total reportable segments 14,533 44 14,577 3,508 1,703 4,323 59,455
Other (4) 48 44 (261) 103 141 2,961
Eliminations and reclassifications — (92) (92) — — — 110
Interest expense — — — (859) — — —
Interest income and other(h) ——— 56 ———
Add back of noncontrolling interest
component of reportable segment
and Other EBIT ——— 21 ———
Total consolidated $14,529 $ — $14,529 $2,465 $1,806 $4,464 $62,526
Year Ended December 31, 2010
U.S. Franchised Electric and Gas(c)(d) $10,563 $ 34 $10,597 $2,966 $1,386 $3,891 $ 45,210
Commercial Power(e) 2,440 8 2,448 (229) 225 525 6,704
International Energy 1,204 — 1,204 486 86 181 4,310
Total reportable segments 14,207 42 14,249 3,223 1,697 4,597 56,224
Other(f)(g) 65 53 118 (255) 89 258 2,845
Eliminations and reclassifications — (95) (95) — — — 21
Interest expense — — — (840) — — —
Interest income and other(h) ——— 72 ———
Add back of noncontrolling interest
component of reportable segment
and Other EBIT — — — 10 — — —
Total consolidated $14,272 $ — $14,272 $2,210 $1,786 $4,855 $59,090
Year Ended December 31, 2009
U.S. Franchised Electric and Gas(c) $ 9,392 $ 41 $ 9,433 $2,321 $1,290 $3,560 $42,763
Commercial Power(e) 2,109 5 2,114 27 206 688 7,345
International Energy 1,158 — 1,158 365 81 128 4,067
Total reportable segments 12,659 46 12,705 2,713 1,577 4,376 54,175
Other 72 56 128 (251) 79 181 2,736
Eliminations and reclassifications — (102) (102) — — — 129
Interest expense — — — (751) — — —
Interest income and other(h) — — — 102 — — —
Add back of noncontrolling interest
component of reportable segment
and Other EBIT — — — 18 — — —
Total consolidated $12,731 $ — $12,731 $1,831 $1,656 $4,557 $57,040
(a) Segment results exclude results of entities classified as discontinued operations.
(b) Includes assets held for sale and assets of entities in discontinued operations. See Note 13 for description and carrying value of investments accounted for under the equity method of
accounting within each segment.
(c) On December 7, 2009 and January 10, 2010, the North Carolina and South Carolina rate case settlement agreements were approved by the NCUC and PSCSC, respectively. Among
other things, the rate case settlements included an annual base rate increase of $315 million in North Carolina to be phased-in primarily over a two-year period beginning January 1,
2010, and a $74 million annual base rate increase in South Carolina effective February 1, 2010. On July 8, 2009, the PUCO approved a $55 million annual increase in rates for
electric delivery service. These new rates were effective July 13, 2009. Additionally, on December 29, 2009, the KPSC approved a $13 million increase in annual base natural gas
rates. New rates went into effect January 4, 2010.
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