Duke Energy 2012 Annual Report Download - page 115

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PART II
Years Ended December 31,
(in millions) 2012 2011 2010
Operating Revenues $4,689 $ 4,392 $ 5,276
Operating Expenses
Fuel used in electric generation and purchased power 2,409 2,288 2,613
Operation, maintenance and other 969 883 915
Depreciation and amortization 192 169 426
Property and other taxes 346 351 362
Impairment charges 146 ——
Total operating expenses 4,062 3,691 4,316
Gains (Losses) on Sales of Other Assets and Other, net 2 2 (5)
Operating Income 629 703 955
Other Income and Expenses, net 39 30 32
Interest Expense 255 239 258
Income Before Income Taxes 413 494 729
Income Tax Expense 147 180 276
Net Income 266 314 453
Less: Preferred Stock Dividend Requirement 2 22
Net Income Available to Parent $ 264 $ 312 $ 451
Net Income $ 266 $ 314 $ 453
Other Comprehensive Income (Loss), net of tax
Net unrealized loss on cash fl ow hedges(a) —(23) (7)
Reclassifi cation into earnings from cash fl ow hedges(b) 1——
Reclassifi cation of cash fl ow hedges to regulatory assets(c) 26 ——
Other Comprehensive Income (Loss), net of tax 27 (23) (7)
Comprehensive Income $ 293 $ 291 $ 446
(a) Net of $15 million tax benefi t in 2011 and $4 million tax benefi t in 2010.
(b) Net of $1 million tax expense in 2012.
(c) Net of $16 million tax expense in 2012.
See Notes to Consolidated Financial Statements
FLORIDA POWER CORPORATION d/b/a PROGRESS ENERGY FLORIDA, INC.
Statements of Operations and Comprehensive Income