Duke Energy 2012 Annual Report Download - page 98

78
PART II
Years Ended December 31,
(in millions) 2012 2011 2010
Operating Revenues $6,665 $6,493 $6,424
Operating Expenses
Fuel used in electric generation and purchased power 1,864 1,944 1,944
Operation, maintenance and other 1,979 1,904 1,907
Depreciation and amortization 921 814 787
Property and other taxes 365 340 348
Impairment charges 31 12 —
Total operating expenses 5,160 5,014 4,986
Gains on Sales of Other Assets and Other, net 12 1 7
Operating Income 1,517 1,480 1,445
Other Income and Expenses, net 185 186 212
Interest Expense 384 360 362
Income Before Income Taxes 1,318 1,306 1,295
Income Tax Expense 453 472 457
Net Income 865 834 838
Other Comprehensive Income, net of tax
Reclassifi cation into earnings from cash fl ow hedges(a) 2 3 4
Unrealized gain on investments in auction rate securities(b) 1 —7
Comprehensive Income $ 868 $ 837 $ 849
(a) Net of $1 million tax expense in 2012, $2 million tax expense in 2011 and $2 million tax expense in 2010.
(b) Net of $1 million tax expense in 2012 and $5 million tax expense in 2010.
See Notes to Consolidated Financial Statements
DUKE ENERGY CAROLINAS, LLC
Consolidated Statements of Operations and Comprehensive Income