Duke Energy 2013 Annual Report Download - page 92

74
PART II
Years Ended December 31,
(in millions) 2013 2012 2011
Operating Revenues $9,533 $9,405 $ 8,948
Operating Expenses
Fuel used in electric generation and purchased power 3,851 4,304 4,043
Operation, maintenance and other 2,247 2,445 2,060
Depreciation and amortization 883 747 701
Property and other taxes 557 570 562
Impairment charges 380 200 3
Total operating expenses 7,918 8,266 7,369
Gains (Losses) on Sales of Other Assets and Other, net 3 (2) 4
Operating Income 1,618 1,137 1,583
Other Income and Expenses, net 94 130 52
Interest Expense 680 740 725
Income From Continuing Operations Before Income Taxes 1,032 527 910
Income Tax Expense From Continuing Operations 373 172 323
Income From Continuing Operations 659 355 587
Income (Loss) From Discontinued Operations, net of tax 16 52 (5)
Net Income 675 407 582
Less: Net Income Attributable to Noncontrolling Interests 3 7 7
Net Income Attributable to Parent $ 672 $ 400 $ 575
Net Income $ 675 $ 407 $ 582
Other Comprehensive (Loss) Income, net of tax
Pension and OPEB adjustments(a) 9(2) 39
Net unrealized loss on cash flow hedges(b) —(5) (87)
Reclassification into earnings from cash flow hedges(c) (1) 8 8
Reclassification of cash flow hedges to regulatory assets(d) —97 —
Other Comprehensive Income (Loss), net of tax 8 98 (40)
Comprehensive Income $ 683 $ 505 $ 542
(a) Net of $27 million tax expense in 2011.
(b) Net of $56 million tax benefit in 2011.
(c) Net of $6 million tax expense in 2012 and $5 million tax expense in 2011.
(d) Net of $62 million tax expense in 2012.
See Notes to Consolidated Financial Statements
PROGRESS ENERGY, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME