Duke Energy 2014 Annual Report Download - page 228

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208
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)
UNRECOGNIZED TAX BENEFITS
The following tables present changes to unrecognized tax benefi ts.
Year Ended December 31, 2014
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Indiana
Unrecognized tax benefi ts – January 1 $ 230 $ 171 $ 32 $ 22 $ 8 $ 1
Unrecognized tax benefi ts increases (decreases)
Gross increases – tax positions in prior periods —— 11——
Gross decreases – tax positions in prior periods (2) — — — — —
Decreases due to settlements (15) (11) (1) — — —
Total changes (17) (11) — 1 — —
Unrecognized tax benefi ts – December 31 $ 213 $ 160 $ 32 $ 23 $ 8 $ 1
Year Ended December 31, 2013
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Unrecognized tax benefi ts – January 1 $ 540 $ 271 $ 131 $ 67 $ 44 $ 36 $ 32
Unrecognized tax benefi ts (decreases) increases
Gross decreases – tax positions in prior periods (231) (100) (86) (45) (37) (36) (31)
Decreases due to settlements (66) — — — — — —
Reduction due to lapse of statute of limitations (13) — (13) — 1 — —
Total changes (310) (100) (99) (45) (36) (36) (31)
Unrecognized tax benefi ts – December 31 $ 230 $ 171 $ 32 $ 22 $ 8 $ — $ 1
(in millions)
Year Ended December 31, 2012
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Unrecognized tax benefi ts – January 1 $ 385 $ 260 $ 173 $ 73 $ 80 $ 32 $ 24
Acquisitions 128 — — — — — —
Unrecognized tax benefi ts increases (decreases)
Gross increases – tax positions in prior periods 29 12 23 10 12 2 6
Gross decreases – tax positions in prior periods (4) — (72) (19) (52) — —
Gross increases – current period tax positions 28 15 8 4 4 4 4
Gross decreases – current period tax positions (9) (5) (1) (1) — (2) (2)
Decreases due to settlements (13) (11) — — — — —
Reduction due to lapse of statute of limitations (4) — — — — — —
Total changes 155 11 (42) (6) (36) 4 8
Unrecognized tax benefi ts – December 31 $ 540 $ 271 $ 131 $ 67 $ 44 $ 36 $ 32
The following table includes additional information regarding the Duke
Energy Registrants’ unrecognized tax benefi ts. It is reasonably possible that
Duke Energy and Progress Energy will refl ect an approximate $28 million
reduction, Duke Energy Progress will refl ect an approximate $17 million
reduction, and Duke Energy Florida will refl ect an approximate $7 million
reduction in unrecognized tax benefi ts within the next 12 months due to the
expected lapse of the statute of limitations. All other Duke Energy Registrants
do not anticipate a material increase or decrease in unrecognized tax benefi ts
within the next 12 months.