Duke Energy 2014 Annual Report Download - page 223
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203
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)
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Years ended December 31,
2014(a) $143 $47 $43 $30 $14 $3 $7
2013 134 45 45 25 14 3 7
2012 107 37 45 24 15 4 6
(a) For 2014, amounts include the additional employer contribution of 4 percent of eligible pay per pay period for employees not eligible to participate in a defi ned benefi t plan.
22. INCOME TAXES
INCOME TAX EXPENSE
Components of Income Tax Expense
Year Ended December 31, 2014
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Current income taxes
Federal $ — $ 161 $ (466) $(184) $ (53) $ (73) $(112)
State 56 51 (8) 14 1 3 1
Foreign 144 — — — — — —
Total current income taxes 200 212 (474) (170) (52) (70) (111)
Deferred income taxes
Federal 1,517 407 938 436 350 113 294
State 35 (25) 84 25 52 1 15
Foreign (67) — — — — — —
Total deferred income taxes(a)(b) 1,485 382 1,022 461 402 114 309
Investment tax credit amortization (16) (6) (8) (6) (1) (1) (1)
Income tax expense from continuing operations 1,669 588 540 285 349 43 197
Tax benefi t from discontinued operations (295) — (4) — — (300) —
Total income tax expense included in Consolidated
Statements of Operations $ 1,374 $ 588 $ 536 $ 285 $349 $(257) $ 197
(a) There were no benefi ts of net operating loss (NOL) carryforwards.
(b) Includes utilization of NOL and tax credit carryforwards of $1,544 million at Duke Energy, $345 million at Duke Energy Carolinas, $530 million at Progress Energy, $291 million at Duke Energy Progress, $64 million at Duke
Energy Florida, $56 million at Duke Energy Ohio and $141 million at Duke Energy Indiana.