Duke Energy 2013 Annual Report Download - page 104
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86
PART II
DUKE ENERGY FLORIDA, INC.
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Years Ended December 31,
(in millions) 2013 2012 2011
Operating Revenues $ 4,527 $ 4,689 $ 4,392
Operating Expenses
Fuel used in electric generation and purchased power 1,927 2,409 2,288
Operation, maintenance and other 898 969 883
Depreciation and amortization 330 192 169
Property and other taxes 327 346 351
Impairment charges 358 146 —
Total operating expenses 3,840 4,062 3,691
Gains on Sales of Other Assets and Other, net 1 2 2
Operating Income 688 629 703
Other Income and Expenses, net 30 39 30
Interest Expense 180 255 239
Income Before Income Taxes 538 413 494
Income Tax Expense 213 147 180
Net Income 325 266 314
Less: Preferred Stock Dividend Requirement — 2 2
Net Income Available to Parent $ 325 $ 264 $ 312
Net Income $ 325 $ 266 $ 314
Other Comprehensive Income (Loss), net of tax
Net unrealized loss on cash flow hedges(a) (1) — (23)
Reclassification into earnings from cash flow hedges — 1 —
Reclassification of cash flow hedges to regulatory assets(b) — 26 —
Other Comprehensive Income (Loss), net of tax (1) 27 (23)
Comprehensive Income $ 324 $ 293 $ 291
(a) Net of $15 million tax benefit in 2011.
(b) Net of $16 million tax expense in 2012.
See Notes to Consolidated Financial Statements