Duke Energy 2011 Annual Report Download - page 158

PART II
DUKE ENERGY CORPORATION •DUKE ENERGY CAROLINAS, LLC •DUKE ENERGY OHIO, INC. •DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
The following table includes future minimum lease payments under operating leases, which at inception had a non-cancelable term of
more than one year, and capital leases as of December 31, 2011.
Duke Energy Duke Energy Carolinas Duke Energy Ohio Duke Energy Indiana
(in millions)
Operating
Leases
Capital
Leases
Operating
Leases
Capital
Leases
Operating
Leases
Capital
Leases
Operating
Leases
Capital
Leases
2012 $ 81 $ 36 $ 37 $ 2 $12 $ 9 $19 $ 4
2013 70 25 31 2 10 8 18 3
2014 55 23 24 3 8 7 12 3
2015 42 22 19 3 7 7 9 3
2016 31 24 13 3 6 6 6 2
Thereafter 202 176 79 21 24 7 8 12
Total $481 $306 $203 $34 $67 $44 $72 $27
6. DEBT AND CREDIT FACILITIES
Summary of Debt and Related Terms
Duke Energy
(in millions)
Weighted-
Average
Rate Year Due
December 31,
2011 2010
Unsecured debt 5.7% 2012 – 2037 $ 8,961 $ 8,036
Secured debt 3.7% 2012 – 2035 1,118 1,167
First mortgage bonds(a) 5.1% 2013 – 2041 8,182 6,689
Capital leases 7.9% 2012 – 2047 306 283
Other debt(b) 1.9% 2012 – 2041 1,597 1,623
Non-recourse notes payable of VIEs 273 216
Notes payable and commercial paper(c) 0.6% 604 450
Fair value hedge carrying value adjustment 19 25
Unamortized debt discount and premium, net (60) (63)
Total debt(d) 21,000 18,426
Short-term notes payable and commercial paper (154) —
Current maturities of long-term debt (1,894) (275)
Short-term non-recourse notes payable of VIEs (273) (216)
Total long-term debt, including long-term debt of VIEs $18,679 $17,935
(a) As of December 31, 2011, substantially all of USFE&G’s electric and gas plant in service is mortgaged under the mortgage bond indentures of Duke Energy Carolinas, Duke Energy Ohio
and Duke Energy Indiana.
(b) Includes $1,515 million and $1,540 million of Duke Energy tax-exempt bonds as of December 31, 2011 and 2010, respectively. As of December 31, 2011 and 2010, $650 million
and $583 million, respectively, was secured by first mortgage bonds and $231 million and $348 million, respectively, was secured by a letter of credit.
(c) Includes $450 million as of both December 31, 2011 and 2010 that was classified as Long-term Debt on the Consolidated Balance Sheets due to the existence of long-term credit
facilities which back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted-average days to
maturity was 17 days and 14 days as of December 31, 2011 and 2010, respectively.
(d) As of December 31, 2011 and 2010, $420 million and $489 million, respectively, of debt was denominated in Brazilian Reals.
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