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\ 2 \ DUKE ENERGY
(In millions, except per share amounts and ratios) 2014 2013 2012
Operating Results
Total operating revenues $23,925 $22,756 $17,912
Net income $1,889 $2,676 $1,782
Net income attributable to Duke Energy Corporation $1,883 $2,665 $1,768
Ratio of Earnings to Fixed Charges 3.2 3.0 2.4
Common Stock Data
Shares of common stock outstanding
Year-end 707 706 704
Weighted average – basic 707 706 574
Weighted average – diluted 707 706 575
Reported diluted earnings per share $2.66 $3.76 $3.07
Adjusted diluted earnings per share $4.55 $4.36 $4.33
Dividends per share $3.15 $3.09 $3.03
Balance Sheet Data
Total assets $120,709 $114,779 $113,856
Long-term debt including capital leases and redeemable
preferred stock of subsidiaries, less current maturities $37,213 $38,152 $36,444
Total Duke Energy Corporation shareholders’ equity $40,875 $41,330 $40,863
OUR FINANCIAL HIGHLIGHTSa,b
Earnings Per Share
(in dollars) Reported Diluted Adjusted Diluted
2014
2.66
4.55
2013
3.76 4.36
2012
3.07
4.33
Capital and Investment
Expenditures (dollars in billions)
2013
5.6
2012
6.0
2014
5.5
a

Dispositions and Sales of Other Assets”); (ii) 2014 incremental tax expense resulting from the decision to repatriate all cumulative historical undistributed foreign earnings (see Note 22




b
On July 2, 2012, immediately prior to the merger with Progress Energy, Duke Energy executed a one-for-three reverse stock split. All share and earnings per share amounts are presented
as if the one-for-three reverse stock split had been effective at the beginning of the earliest period presented.
Dividends Per Share
(in dollars)
2013
3.09
2014
3.15
2012
3.03