Duke Energy 2012 Annual Report Download - page 256

PART II
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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)
Classifi cation of Deferred Tax Assets (Liabilities) in the Consolidated Balance Sheets
December 31, 2012
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Progress
Energy
Carolinas
Progress
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Current deferred tax assets, included in Other within Current Assets $ 732 $ 90 $ 359 $ 144 $ 152 $ 21 $ 1
Non-current deferred tax assets, included in Other within Investments and
Other Assets 85 — 20 — — — —
Current deferred tax liabilities, included in Other within Current Liabilities (6)—— ————
Non-current deferred tax liabilities, included in Other within Deferred
Credits and Other Liabilities (10,490) (5,181) (2,558) (2,162) (1,518) (1,853) (853)
Net deferred income tax liabilities $ (9,679) $(5,091) $(2,179) $(2,018) $(1,366) $(1,832) $(852)
December 31, 2011
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Progress
Energy
Carolinas
Progress
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Current deferred tax assets, included in Other within Current Assets $ 210 $ 46 $ 371 $ 142 $ 138 $ 33 $ 13
Non-current deferred tax assets, included in Other within Investments
and Other Assets 67 — 27 — — — —
Non-current deferred tax liabilities, included in Other within Deferred
Credits and Other Liabilities (7,581) (4,555) (2,193) (1,903) (1,325) (1,853) (927)
Net deferred income tax liabilities $(7,304) $ (4,509) $(1,795) $(1,761) $ (1,187) $(1,820) $(914)
Deferred income taxes and foreign withholding taxes have not been provided on undistributed earnings of Duke Energy’s foreign subsidiaries when such
amounts are deemed to be indefi nitely reinvested. The cumulative undistributed earnings as of December 31, 2012 on which Duke Energy has not provided deferred
income taxes and foreign withholding taxes is $2 billion. The amount of unrecognized deferred tax liability related to these undistributed earnings is estimated at
between $275 million and $350 million.
Changes to Unrecognized Tax Benefi ts
Year Ended December 31, 2012
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Progress
Energy
Carolinas
Progress
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Unrecognized tax benefi ts — January 1 $385 $260 $173 $ 73 $ 80 $ 32 $ 24
Acquisitions 128 — — — — — —
Unrecognized tax benefi ts increases (decreases)
Gross increases — tax positions in prior periods 29 12 23 10 12 2 6
Gross decreases — tax positions in prior periods (4) — (72) (19) (52) — —
Gross increases — current period tax positions 28 15 8 4 4 4 4
Gross decreases — current period tax positions (9) (5) (1) (1) — (2) (2)
Settlements (13) (11) — — — — —
Statute (4) — — — — — —
Total changes 155 11 (42) (6) (36) 4 8
Unrecognized tax benefi ts — December 31 $540 $271 $131 $ 67 $ 44 $ 36 $ 32