Duke Energy 2012 Annual Report Download - page 172

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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.
6. DEBT AND CREDIT FACILITIES
The following tables summarize the Duke Energy Registrants’ outstanding debt.
Summary of Debt and Related Terms
December 31, 2012
(in millions)
Weighted Average
Interest Rate
Duke
Energy
Duke Energy
Carolinas
Progress
Energy
Progress Energy
Carolinas
Progress Energy
Florida
Duke Energy
Ohio
Duke Energy
Indiana
Unsecured debt, maturing 2013 - 2039 5.44 % $12,722 $1,159 $ 4,150 $ — $ 150 $ 805 $1,146
Secured debt, maturing 2013 - 2037 3.08 % 1,873 300 5 5 — — —
First mortgage bonds, maturing 2013 - 2042(a) 5.00 % 17,856 6,562 8,775 4,025 4,750 700 1,819
Capital leases, maturing 2013 - 2051(b) 5.19 % 1,689 32 339 150 189 35 23
Junior subordinated debt, maturing 2039 7.10 % 309 — 309 — — — —
Other debt, maturing 2027 4.77 % 8 — — — — 8 —
Tax-exempt bonds, maturing 2014 - 2041(c) 1.39 % 2,357 395 910 669 241 479 573
Non-recourse notes payable of VIEs 312 — — — — — —
Notes payable and commercial paper(d) 0.83 % 1,195 — — — — — —
Money pool borrowings — 300 455 364 — 245 231
Fair value hedge carrying value adjustment 12 10 — — — 2 —
Unamortized debt discount and premium, net(e) 2,185 (17) (60) (9) (10) (32) (9)
Total debt(f) 40,518 8,741 14,883 5,204 5,320 2,242 3,783
Short-term notes payable and commercial paper (745) — — — — — —
Short-term money pool borrowings — — (455) (364) — (245) (81)
Current maturities of long-term debt (3,110) (406) (843) (407) (435) (261) (405)
Short-term non-recourse notes payable of VIEs (312) — — — — — —
Total long-term debt, including long-term debt of VIEs $36,351 $8,335 $13,585 $ 4,433 $4,885 $1,736 $3,297
(a) Substantially all of the Duke Energy Registrants’ electric and gas plant in service is mortgaged under mortgage bond indentures.
(b) At December 31, 2012, capital leases of Duke Energy included $158 million and $907 million of capital lease purchase accounting adjustments for Progress Energy Carolinas and Progress Energy Florida, respectively, related
to power purchase agreements that are not accounted for as leases on their fi nancial statements because of grandfathering provisions in GAAP.
(c) $1.558 billion, $360 million, $910 million, $669 million, $241 million and $288 million were secured by fi rst mortgage bonds at Duke Energy, Duke Energy Carolinas, Progress Energy, Progress Energy Carolinas, Progress
Energy Florida and Duke Energy Indiana, respectively, and $231 million, $27 million and $204 million were secured by a letter of credit at Duke Energy, Duke Energy Ohio, and Duke Energy Indiana, respectively.
(d) Includes $450 million that was classifi ed as Long-term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s
ability and intent to refi nance these balances on a long-term basis. The weighted-average days to maturity was 18 days.
(e) At December 31, 2012, $2.311 billion in purchase accounting adjustments related to the merger with Progress Energy were refl ected in the balance for Duke Energy. See Note 2 for additional information.
(f) Includes $451 million of debt for Duke Energy that was denominated in Brazilian Reals and $61 million denominated in Chilean Pesos.