Duke Energy 2014 Annual Report Download - page 232

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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)
PROGRESS ENERGY
(in millions)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
2014
Operating revenues $2,541 $2,421 $2,863 $2,341 $10,166
Operating income 477 488 665 388 2,018
Income from continuing operations 204 207 330 139 880
Net income 203 202 330 139 874
Net income attributable to Parent 202 202 329 136 869
2013
Operating revenues $2,186 $2,281 $2,766 $2,300 $ 9,533
Operating income 430 114 671 403 1,618
Income (loss) from continuing
operations 154 (13) 328 190 659
Net income (loss) 154 (17) 342 196 675
Net income (loss) attributable to Parent 153 (17) 341 195 672
The following table includes unusual or infrequently occurring items in
each quarter during the two most recently completed fi scal years. All amounts
discussed below are pretax unless otherwise noted.
(in millions)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
2014
Costs to achieve the merger with Duke
Energy (see Note 2) $(19) $ (12) $ (21) $ (13) $ (65)
Coal ash Plea Agreements
Reserve (see Note 5) — — — (30) (30)
Total $(19) $ (12) $ (21) $ (43) $ (95)
2013(a)
Costs to achieve the merger with Duke
Energy (see Note 2) $(19) $ (33) $ (42) $ (28) $ (122)
Crystal River Unit 3 charges
(see Note 4) — (295) — (57) (352)
Harris and Levy nuclear development
charges (see Note 4) — (87) — — (87)
Total $ (19) $ (415) $ (42) $ (85) $ (561)
(a) Revised retail rates became effective in January in Florida and June in North Carolina (see Note 4 for
further information).
DUKE ENERGY PROGRESS
(in millions)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
2014
Operating revenues $1,422 $1,191 $1,367 $1,196 $ 5,176
Operating income 258 212 285 180 935
Net income 133 101 157 76 467
2013
Operating revenues $1,216 $1,135 $1,430 $1,211 $ 4,992
Operating income 212 166 303 251 932
Net income 110 77 175 138 500
The following table includes unusual or infrequently occurring items
in each quarter during the two most recently completed fiscal years. All
amounts discussed below are pretax unless otherwise noted.
(in millions)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
2014
Costs to achieve the merger with Duke
Energy (see Note 2) $ (14) $ (3) $ (15) $ (10) $ (42)
Coal ash Plea Agreements Reserve
(see Note 5) — — — (30) (30)
Total $ (14) $ (3) $ (15) $ (40) $ (72)
2013(a)
Costs to achieve the merger with Duke
Energy (see Note 2) $ (11) $ (22) $ (32) $ (19) $ (84)
Harris nuclear development charges
(see Note 4) $ — $ (22) $ — $ — $ (22)
Total $ (11) $ (44) $ (32) $ (19) $ (106)
(a) Revised retail rates became effective in June in North Carolina (see Note 4 for further information).
DUKE ENERGY FLORIDA
(in millions)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
2014
Operating revenues $1,116 $1,225 $1,491 $1,143 $4,975
Operating income 219 276 378 205 1,078
Net income 108 142 205 93 548
2013
Operating revenues $ 968 $1,142 $1,332 $1,085 $4,527
Operating income (loss) 221 (53) 369 151 688
Net income (loss) 110 (57) 197 75 325
The following table includes unusual or infrequently occurring items in
each quarter during the two most recently completed fi scal years. All amounts
discussed below are pretax unless otherwise noted.
(in millions)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
2014
Costs to achieve the merger with Duke
Energy (see Note 2) $ (5) $ (9) $ (6) $ (3) $ (23)
2013(a)
Costs to achieve the merger with Duke
Energy (see Note 2) $ (8) $ (11) $ (10) $ (9) $ (38)
Crystal River Unit 3 charges (see Note 4) — (295) — (57) (352)
Levy nuclear development charges
(see Note 4) — (65) — — (65)
Total $ (8) $ (371) $ (10) $ (66) $ (455)
(a) Revised retail rates became effective in January (see Note 4 for further information).