Duke Energy 2012 Annual Report Download - page 235

Download and view the complete annual report

Please find page 235 of the 2012 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 308

  • 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
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287
  • 288
  • 289
  • 290
  • 291
  • 292
  • 293
  • 294
  • 295
  • 296
  • 297
  • 298
  • 299
  • 300
  • 301
  • 302
  • 303
  • 304
  • 305
  • 306
  • 307
  • 308

215
PART II
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.
Combined Notes to Consolidated Financial Statements – (Continued)
Additional Information: Qualifi ed Pension Plans
Information for Plans with Accumulated Benefi t Obligation in Excess of Plan Assets
December 31, 2012
(in millions) Duke Energy
Duke Energy
Carolinas
Progress
Energy
Progress Energy
Carolinas
Progress
Energy Florida
Duke Energy
Ohio
Duke Energy
Indiana
Projected benefi t obligation $ 5,396 $ — $2,868 $ — $1,309 $ 527 $ 684
Accumulated benefi t obligation 5,201 — 2,820 — 1,261 501 653
Fair value of plan assets 4,957 — 2,647 — 1,150 446 627
December 31, 2011
(in millions) Duke Energy
Duke Energy
Carolinas
Progress
Energy
Progress Energy
Carolinas
Progress
Energy Florida
Duke Energy
Ohio
Duke Energy
Indiana
Projected benefi t obligation $ — $ — $2,729 $1,263 $1,179 $ — $ —
Accumulated benefi t obligation — — 2,692 1,263 1,142 — —
Fair value of plan assets — — 2,191 1,091 969 — —
Assumptions Used for Pension Benefi ts Accounting
Duke Energy(a)
December 31,
(percentages) 2012 2011 2010
Benefi t Obligations
Discount rate 4.10 5.10 5.00
Salary increase (graded by age) 4.30 4.40 4.10
Net Periodic Benefi t Cost
Discount rate 4.60-5.10 5.00 5.50
Salary increase 4.40 4.10 4.50
Expected long-term rate of return on plan assets 8.00 8.25 8.50
(a) For Progress Energy plans, the assumptions used in 2012 to determine expense refl ect remeasurement as of July 1, 2012 due to the merger between Duke Energy and Progress Energy.
Progress Energy(a)(b)
December 31,
(percentages) 2012 2011 2010
Benefi t Obligations
Discount rate 4.10 4.75 5.55
Salary increase (Bargaining plan) 4.00 4.00 4.50
Net Periodic Benefi t Cost
Discount rate 4.60-4.75 5.55 6.00
Salary increase (Bargaining plan) 4.00 4.50 4.50
Expected long-term rate of return on plan assets 8.00-8.25 8.50 8.75
(a) The assumptions used in 2012 to determine expense refl ect remeasurement as of July 1, 2012 due to the merger between Duke Energy and Progress Energy.
(b) The weighted-average actuarial assumptions used by Progress Energy Carolinas and Progress Energy Florida were not materially different from the assumptions above, as applicable.