Duke Energy 2011 Annual Report Download - page 230

PART II
DUKE ENERGY CORPORATION •DUKE ENERGY CAROLINAS, LLC •DUKE ENERGY OHIO, INC. •DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
For the Year Ended
December 31, 2010
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
Current income taxes
Federal $ (5) $ 3 $107 $ (3)
State 39 (2) 8 16
Foreign 125 — — —
Total current
income taxes 159 1 115 13
Deferred income taxes
Federal 639 388 6 123
State 83 75 12 22
Foreign 20 — — —
Total deferred
income taxes 742 463 18 145
Investment tax
credit
amortization (11) (7) (1) (2)
Total income tax expense
from continuing
operations 890 457 132 156
Total income tax benefit
from discontinued
operations (1) — — —
Total income tax expense
included in
Consolidated
Statements of
Operations(a) $889 $457 $132 $156
(a) Included in the “Total current income taxes” line above are uncertain tax benefits
relating primarily to certain temporary differences of $392 million at Duke Energy,
$300 million at Duke Energy Carolinas, $3 million at Duke Energy Ohio and $7
million at Duke Energy Indiana. The offset to these temporary differences are included
inthe“Totaldeferredincometaxes”lineabove.
For the Year Ended
December 31, 2009
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
Current income taxes
Federal $(271) $(196) $ 77 $ 2
State 3 (27) 7 5
Foreign 96 — — —
Total current
income taxes (172) (223) 84 7
Deferred income taxes
Federal 767 518 97 89
State 148 89 7 22
Foreign 27 — — —
Total deferred
income taxes 942 607 104 111
Investment tax credit
amortization (12) (7) (2) (2)
Total income tax expense
from continuing
operations 758 377 186 116
Total income tax benefit
from discontinued
operations (2) — — —
Total income tax expense
included in
Consolidated
Statements of
Operations(a) $ 756 $ 377 $186 $116
(a) Included in the “Total current income taxes” line above are uncertain tax benefits
relating primarily to certain temporary differences of $91 million at Duke Energy,
uncertain tax expenses of $42 million, $22 million and $20 million at Duke Energy
Carolinas, Duke Energy Ohio, and Duke Energy Indiana, respectively. The offset to
these temporary differences are included in the “Total deferred income taxes” line
above.
Duke Energy Income from Continuing Operations before Income
Taxes
For the Years Ended
December 31,
(in millions) 2011 2010 2009
Domestic $1,780 $1,731 $1,433
Foreign 685 479 398
Total income from continuing
operations before income taxes $2,465 $2,210 $1,831
210