Duke Energy 2013 Annual Report Download - page 149

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PART II
DUKE ENERGY CORPORATION • DUKE ENERGY CAROLINAS, LLC • PROGRESS ENERGY, INC. •
DUKE ENERGY PROGRESS, INC. • DUKE ENERGY FLORIDA, INC. • DUKE ENERGY OHIO, INC. • DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
December 31, 2012
(in millions)
Weighted
Average
Interest Rate
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Unsecured debt, maturing 2013 - 2039 5.44 % $ 12,722 $ 1,159 $ 4,150 $ — $ 150 $ 805 $ 1,146
Secured debt, maturing 2013 - 2037 3.08 % 1,873 300 5 5 — — —
First mortgage bonds, maturing 2013 - 2042(a) 5.00 % 17,856 6,562 8,775 4,025 4,750 700 1,819
Capital leases, maturing 2013 - 2051(b) 5.19 % 1,689 32 339 150 189 35 23
Junior subordinated debt, maturing 2039 7.10 % 309 — 309 — — — —
Other debt, maturing 2027 4.77 % 8 — — — — 8 —
Tax exempt bonds, maturing 2014 - 2041(c) 1.39 % 2,357 395 910 669 241 479 573
Notes payable and commercial paper(d) 0.83 % 1,507 — — — — — —
Money pool/intercompany borrowings — 300 455 364 — 245 231
Fair value hedge carrying value adjustment 12 10 — — — 2 —
Unamortized debt discount and premium, net(e) 2,185 (17) (60) (9) (10) (32) (9)
Total debt 40,518 8,741 14,883 5,204 5,320 2,242 3,783
Short-term notes payable and commercial paper (1,057) — — — — — —
Short-term money pool borrowings — — (455) (364) — (245) (81)
Current maturities of long-term debt (3,110) (406) (843) (407) (435) (261) (405)
Total long-term debt(f) $ 36,351 $ 8,335 $ 13,585 $ 4,433 $ 4,885 $ 1,736 $ 3,297
(a) Substantially all electric utility xed assets are mortgaged under mortgage bond indentures.
(b) Duke Energy includes $158 million and $907 million of capital lease purchase accounting adjustments for Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not
accounted for as leases on their nancial statements because of grandfathering provisions in GAAP.
(c) Substantially all tax-exempt bonds are secured by rst mortgage bonds or letters of credit.
(d) Includes $450 million that was classied as Long-term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s
ability and intent to renance these balances on a long-term basis. The weighted-average days to maturity were 18 days.
(e) Duke Energy includes $2,311 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information.
(f) Includes $852 million for Duke Energy and $300 million for Duke Energy Carolinas related to consolidated VIEs.