Duke Energy 2014 Annual Report Download - page 159

139
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)
Maturities and Call Options
The following table shows the annual maturities of long-term debt for the next fi ve years and thereafter. Amounts presented exclude short-term notes payable
and commercial paper and money pool borrowings for the Subsidiary Registrants.
December 31, 2014
(in millions)
Duke
Energy(a)
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
2015 $ 2,793 $ 507 $ 1,507 $ 945 $ 562 $ 157 $ 5
2016 2,980 756 614 302 12 57 480
2017 2,452 116 940 453 487 3 3
2018 3,207 1,505 515 3 512 28 153
2019 2,810 5 1,418 606 12 552 62
Thereafter 23,803 5,502 9,760 3,892 3,275 969 3,088
Total long-term debt, including current maturities $ 38,045 $ 8,391 $ 14,754 $ 6,201 $ 4,860 $ 1,766 $ 3,791
(a) Excludes $1,975 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 Classifi ed as Long-Term Debt
Tax-exempt bonds that may be put to the Duke Energy Registrants at
the option of the holder and certain commercial paper issuances and money
pool borrowings are classifi 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 classifi ed as
long term due to Duke Energy’s intent and ability to utilize such borrowings as
long-term fi 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 refi nance these short-
term obligations on a long-term basis. The following tables show short-term
obligations classifi ed as long-term debt.
December 31, 2014
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
Tax-exempt bonds $ 347 $ 35 $ 27 $ 285
Commercial paper 475 300 25 150
Secured debt(a) 200 — — —
Total $ 1,022 $ 335 $ 52 $ 435
December 31, 2013
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
Tax-exempt bonds $ 471 $ 75 $ 111 $ 285
Commercial paper 450 300 — 150
Secured debt(a) 200 — — —
Total $ 1,121 $ 375 $ 111 $ 435
(a) Instrument has a term of less than one year with the right to extend the maturity date for additional one-year periods with a fi nal maturity date no later than December 2026.