Duke Energy 2012 Annual Report Download - page 277

PART II
257
PART III
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Deloitte & Touche LLP, and the member fi rms of Deloitte Touche Tohmatsu and their respective affi liates (collectively, Deloitte) provided professional services to
Duke Energy Corporation (Duke Energy) and its consolidated subsidiaries for 2012 and 2011. A portion of these costs have been allocated to Duke Energy Carolinas,
LLC (Duke Energy Carolinas), Progress Energy, Inc. (Progress Energy), Carolina Power & Light d/b/a Progress Energy Carolinas, Inc. (Progress Energy Carolinas),
Florida Power Corporation d/b/a Progress Energy Florida, Inc. (Progress Energy Florida), Duke Energy Ohio, Inc. (Duke Energy Ohio) and Duke Energy Indiana, Inc.
(Duke Energy Indiana), collectively referred to as the Subsidiary Registrants. The following tables present the Deloitte fees for services rendered to Duke Energy and
the Subsidiary Registrants during 2012 and 2011.
Year Ended December 31, 2012
Duke Progress Progress Duke Duke
Duke Energy Progress Energy Energy Energy Energy
(in millions) Energy(a) Carolinas Energy(b) Carolinas(b) Florida(b) Ohio Indiana
Types of Fees
Audit Fees(c) $12.2 $4.2 $3.2 $1.7 $1.5 $2.8 $1.3
Audit-Related Fees(d) 2.5 0.9 0.4 0.2 0.2 0.5 0.3
Tax Fees(e) 0.9 0.3 0.2 0.1 0.1 0.2 0.1
Total Fees $ 15.6 $5.4 $3.8 $2.0 $1.8 $3.5 $1.7
Year Ended December 31, 2011
Duke Progress Progress Duke Duke
Duke Energy Progress Energy Energy Energy Energy
(in millions) Energy(a) Carolinas Energy(b) Carolinas(b) Florida(b) Ohio Indiana
Types of Fees
Audit Fees(c) $ 8.5 $3.9 $3.8 $1.9 $1.9 $2.1 $1.1
Audit-Related Fees(d) 2.8 1.2 — — — 0.7 0.4
Tax Fees(e) 0.2 0.1 — — — — —
Total Fees $ 11.5 $5.2 $3.8 $1.9 $1.9 $2.8 $1.5
(a) Excludes accounting fees and services for Progress Energy registrants paid prior to the merger on July 2, 2012.
(b) Includes all accounting fees and services paid prior to and subsequent to the merger.
(c) Audit Fees are fees billed or expected to be billed for professional services for the audit of Duke Energy and the Subsidiary Registrants’ fi nancial statements included in the annual report on Form 10-K and the review of
fi nancial statements included in quarterly reports on Form 10-Q, for services that are normally provided by Deloitte in connection with statutory, regulatory or other fi lings or engagements or for any other service performed by
Deloitte to comply with generally accepted auditing standards.
(d) Audit-Related Fees are fees for assurance and related services that are reasonably related to the performance of an audit or review of fi nancial statements, including assistance with acquisitions and divestitures and internal
control reviews.
(e) Tax Fees are fees for tax return assistance and preparation, tax examination assistance, and professional services related to tax planning and tax strategy.
To safeguard the continued independence of the independent auditor, the Duke Energy Audit Committee adopted a policy that provides that the independent
public accountants are only permitted to provide services to Duke Energy and its consolidated subsidiaries, including the Subsidiary Registrants that have been
pre-approved by the Duke Energy Audit Committee. Pursuant to the policy, detailed audit services, audit-related services, tax services and certain other services
have been specifi cally pre-approved up to certain fee limits. In the event that the cost of any of these services may exceed the pre-approved limits, the Duke Energy
Audit Committee must pre-approve the service. All other services that are not prohibited pursuant to the Securities and Exchange Commission’s or other applicable
regulatory bodies’ rules of regulations must be specifi cally pre-approved by the Duke Energy Audit Committee. All services performed in 2012 and 2011 by the
independent public accountant were approved by the Duke Energy Audit Committee and Legacy Progress Energy Audit Committee pursuant to their pre-approval
policies.