Duke Energy 2013 Annual Report Download - page 150

132
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)
CURRENT MATURITIES OF LONG-TERM DEBT
The following table shows the signicant components of Current maturities of long-term debt on the respective Consolidated Balance Sheets. The Duke Energy
Registrants currently anticipate satisfying these obligations primarily with cash on hand and proceeds from additional borrowings.
(in millions) Maturity Date Interest Rate December 31, 2013
Unsecured Debt
Duke Energy (Parent) February 2014 6.300 %$ 750
Progress Energy (Parent) March 2014 6.050 % 300
Duke Energy (Parent) September 2014 3.950 % 500
Tax-exempt Bonds
Duke Energy Progress January 2014 0.105 % 167
Other 387
Current maturities of long-term debt $ 2,104
Maturities and Call Options
The following table shows the annual maturities of long-term debt for the next ve years and thereafter. Amounts presented exclude short-term notes payable
and commercial paper and money pool borrowings for the Subsidiary Registrants.
December 31, 2013
(in millions)
Duke
Energy(a)
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
2014 $ 2,104 $ 47 $ 485 $ 174 $ 11 $ 47 $ 5
2015 2,634 507 1,264 702 562 157 5
2016 2,975 756 614 302 12 56 480
2017 1,342 116 265 3 262 2 3
2018 3,235 1,505 603 59 544 3 153
Thereafter 25,899 5,505 10,884 3,995 3,495 1,923 3,150
Total long-term debt, including current maturities $ 38,189 $ 8,436 $ 14,115 $ 5,235 $ 4,886 $ 2,188 $ 3,796
(a) Excludes $2,067 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information.
The Duke Energy Registrants have the ability under certain debt facilities
to call and repay the obligation prior to its scheduled maturity. Therefore, the
actual timing of future cash repayments could be materially different than as
presented above.
Short-term Obligations Classified as Long-term Debt
Tax-exempt bonds that may be put to the Company at the option of the
holder and certain commercial paper issuances and money pool borrowings
are classied as Long-term debt on the Consolidated Balance Sheets. These
tax-exempt bonds, commercial paper issuances and money pool borrowings,
which are short-term obligations by nature, are classied as long term due
to Duke Energy’s intent and ability to utilize such borrowings as long-term
nancing. As Duke Energy’s master credit facility and other bilateral letter of
credit agreements have non-cancelable terms in excess of one year as of the
balance sheet date, Duke Energy has the ability to renance these short-term
obligations on a long-term basis. The following tables show short-term
obligations classied as long-term debt.
December 31, 2013
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
Tax-exempt bonds $ 471 $ 75 $ 111 $ 285
Notes payable and commercial paper 450 300 — 150
Secured debt(a) 200 — — —
Total $ 1,121 $ 375 $ 111 $ 435