Duke Energy 2012 Annual Report Download - page 146

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PART II
Combined Notes to Consolidated Financial Statements – (Continued)
DUKE ENERGY CORPORATION • DUKE ENERGY CAROLINAS, LLC • PROGRESS ENERGY, INC. • CAROLINA POWER & LIGHT COMPANY d/b/a PROGRESS ENERGY
CAROLINAS, INC. • FLORIDA POWER CORPORATION d/b/a PROGRESS ENERY FLORIDA, INC. • DUKE ENERGY OHIO, INC. • DUKE ENERGY INDIANA, INC.
Business Segment Data
Year Ended December 31, 2012
(in millions)
Franchised
Electric
Total Reportable
Segment Other Eliminations Total
Unaffi liated revenues $ 9,305 $ 9,305 $ 12 $ — $ 9,317
Affi liated revenues 90 90 — (2) 88
Total revenues $ 9,395 $ 9,395 $ 12 $ (2) $ 9,405
Interest expense $ 459 $ 459 $ 304 $(23) $ 740
Depreciation and amortization 727 727 20 — 747
Income tax expense (benefi t) 384 384 (212) — 172
Segment income(a)(b) 727 727 (379) — 348
Add back noncontrolling interest component 7
Income from discontinued operations, net of tax 52
Net income 407
Capital investment expenditures and acquisitions 2,334 2,334 32 — 2,366
Segment assets 36,764 36,764 684 (43) 37,405
(a) Franchised Electric recorded an $88 million impairment, net of tax of $58 million, related to the decision to retire Crystal River Unit 3 and a $60 million charge, net of tax of $40 million, to record a regulatory liability related
to replacement power obligations as a result of the Crystal River Unit 3 outage. These charges were not applicable to Duke Energy as this reporting unit has a lower carrying value at Duke Energy. See Note 4 for additional
information.
(b) Other includes after-tax costs to achieve the merger with Duke Energy of $198 million, net of tax of $127 million. See Note 2 for additional information.
Year Ended December 31, 2011
(in millions)
Franchised
Electric
Total Reportable
Segment Other Eliminations Total
Unaffi liated revenues(a) $ 8,936 $ 8,936 $ 12 $ — $ 8,948
Affi liated revenues 3 3 — (3) —
Total revenues $ 8,939 $ 8,939 $ 12 $ (3) $ 8,948
Interest expense $ 423 $ 423 $ 324 $ (22) $ 725
Depreciation and amortization 683 683 18 — 701
Income tax expense (benefi t) 436 436 (113) — 323
Segment income(a)(b) 853 853 (273) — 580
Add back noncontrolling interest component 7
Income from discontinued operations, net of tax (5)
Net income 582
Capital investment expenditures and acquisitions 2,239 2,239 17 — 2,256
Segment assets 34,166 34,166 765 — 34,931
(a) Franchised Electric recorded a $173 million charge, net of tax of $115 million, for the amount to be refunded to customers through the fuel clause in accordance with the FPSC’s 2012 settlement agreement. See Note 4 for
additional information.
(b) Other includes after-tax costs to achieve the merger with Duke Energy of $33 million, net of tax of $22 million. See Note 2 for additional information.