Duke Energy 2011 Annual Report Download - page 234

Download and view the complete annual report

Please find page 234 of the 2011 Duke Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 275

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275

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 tables include interest and penalties recognized in
the consolidated statements of operations and the consolidated
balance sheets:
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
December 31, 2011
Net interest income
recognized related to
income taxes $12 $ 5 $ — $ —
Net interest expense
recognized related to
income taxes ——11
Interest receivable related
to income taxes
included in the
consolidated balance
sheets 85——
Interest payable related
to income taxes
included in the
consolidated balance
sheets ——33
Accruals for the payment
of penalties included
in the consolidated
balance sheets ————
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
December 31, 2010
Net interest income
recognized related to
income taxes $26 $18 $ 4 $ 5
Interest receivable related
to income taxes
included in the
consolidated balance
sheets 33 34 — —
Interest payable related to
income taxes included
in the consolidated
balance sheets — — 1 2
Accruals for the payment
of penalties included in
the consolidated
balance sheets 3 — — —
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
December 31, 2009
Net interest expense
recognized related to
income taxes $7 $— $8 $5
Duke Energy and its subsidiaries are no longer subject to U.S.
federal examination for years before 2004. The years 2004 and
2005 are in Appeals. The Internal Revenue Service (IRS) is currently
auditing the federal income tax returns for years 2006 and 2007.
With few exceptions, Duke Energy and its subsidiaries are no longer
subject to state, local or non-U.S. income tax examinations by tax
authorities for years before 1999.
23. SUBSEQUENT EVENTS
For information on subsequent events related to acquisitions,
regulatory matters, commitments and contingencies, debt and credit
facilities and joint ownership of generating and transmission facilities,
see Notes 2, 4, 5, 6 and 8 respectively.
24. QUARTERLY FINANCIAL DATA (UNAUDITED)
Duke Energy
(In millions,
except per
share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
2011
Operating
revenues $3,663 $3,534 $3,964 $3,368 $14,529
Operating
income 814 679 767 517 2,777
Net income
attributable
to Duke
Energy
Corporation 511 435 472 288 1,706
Earnings per
share:
Basic(a) $ 0.38 $ 0.33 $ 0.35 $ 0.22 $ 1.28
Diluted(a) $ 0.38 $ 0.33 $ 0.35 $ 0.22 $ 1.28
2010
Operating
revenues $3,594 $3,287 $3,946 $3,445 $14,272
Operating
income
(loss) 761 (14) 1,033 681 2,461
Net income
(loss)
attributable
to Duke
Energy
Corporation 445 (222) 670 427 1,320
Earnings
(loss) per
share:
Basic(a) $ 0.34 $ (0.17) $ 0.51 $ 0.32 $ 1.00
Diluted(a) $ 0.34 $ (0.17) $ 0.51 $ 0.32 $ 1.00
(a) Quarterly EPS amounts are meant to be stand-alone calculations and are not always
additive to full-year amount due to rounding.
214