Duke Energy 2015 Annual Report Download - page 138

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PART II
DUKE ENERGY CORPORATION • DUKE ENERGY CAROLINAS, LLC • PROGRESS ENERGY, INC. •
DUKE ENERGY PROGRESS, LLC • DUKE ENERGY FLORIDA, LLC • DUKE ENERGY OHIO, INC. • DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
Year Ended December 31, 2013
(in millions)
Regulated
Utilities
International
Energy
Commercial
Portfolio
Total
Reportable
Segments Other Eliminations Total
Unaffiliated Revenues(a)(b)(c) $ 20,871 $ 1,546 $ 254 $ 22,671 $ 85 $ — $ 22,756
Intersegment Revenues 39 —6 45 90 (135) —
Total Revenues $ 20,910 $ 1,546 $ 260 $ 22,716 $ 175 $ (135) $ 22,756
Interest Expense $ 986 $ 86 $ 61 $ 1,133 $ 416 $ (6) $ 1,543
Depreciation and amortization 2,323 100 110 2,533 135 — 2,668
Equity in earnings of unconsolidated affiliates (1) 110 7 116 6 — 122
Income tax expense (benefit) 1,522 166 (148) 1,540 (335) — 1,205
Segment income (loss)(a)(b)(c)(d)(e)(f)(g) 2,504 408 (88) 2,824 (238) (12) 2,574
Add back noncontrolling interest component 16
Income from discontinued operations, net of tax 86
Net income $ 2,676
Capital investments expenditures and acquisitions $ 5,049 $ 67 $ 268 $ 5,384 $ 223 $ — $ 5,607
Segment Assets 99,884 4,998 6,955 111,837 2,754 188 114,779
(a) In May 2013, the PUCO approved a Duke Energy Ohio settlement agreement that provides for a net annual increase in electric distribution revenues beginning in May 2013. This rate increase impacts Regulated Utilities.
(b) In June 2013, NCUC approved a Duke Energy Progress settlement agreement that included an increase in rates in the first year beginning in June 2013. This rate increase impacts Regulated Utilities.
(c) In September 2013, Duke Energy Carolinas implemented revised customer rates approved by the NCUC and the PSCSC. These rate increases impact Regulated Utilities.
(d) Regulated Utilities recorded an impairment charge related to Duke Energy Florida’s Crystal River Unit 3. See Note 4 for additional information.
(e) Regulated Utilities recorded an impairment charge related to the letter Duke Energy Progress filed with the NRC requesting the NRC to suspend its review activities associated with the combined construction and operating
license (COL) at the Harris site. Regulated Utilities also recorded an impairment charge related to the write-off of the wholesale portion of the Levy investments at Duke Energy Florida in accordance with the 2013 Settlement.
See Note 4 for additional information.
(f) Other includes costs to achieve mergers.
(g) Other includes gain from the sale of Duke Energy’s ownership interest in DukeNet. See Note 12 for additional information on the sale of DukeNet.
Geographical Information
(in millions) U.S.
Latin
America(a) Consolidated
2015
Consolidated revenues $ 22,371 $ 1,088 $ 23,459
Consolidated long-lived assets 87,552 2,012 89,564
2014
Consolidated revenues $ 22,508 $ 1,417 $ 23,925
Consolidated long-lived assets 80,709 2,458 83,167
2013
Consolidated revenues $ 21,211 $ 1,545 $ 22,756
Consolidated long-lived assets 78,581 2,781 81,362
(a) Change in amounts of long-lived assets in Latin America includes foreign currency translation adjustments on property, plant and equipment and other long-lived asset balances.
Products and Services
The following table summarizes revenues of the reportable segments by type.
(in millions)
Retail
Electric
Wholesale
Electric
Retail
Natural Gas
Wholesale
Natural Gas Other
Total
Revenues
2015
Regulated Utilities $ 18,695 $ 2,014 $ 546 $ — $ 807 $ 22,062
International Energy — 1,025 — 63 — 1,088
Commercial Portfolio — 260 — — 41 301
Total Reportable Segments $ 18,695 $ 3,299 $ 546 $ 63 $ 848 $ 23,451
2014
Regulated Utilities $ 19,007 $ 1,879 $ 571 $ — $ 814 $ 22,271
International Energy — 1,326 — 91 — 1,417
Commercial Portfolio — 255 — — — 255
Total Reportable Segments $ 19,007 $ 3,460 $ 571 $ 91 $ 814 $ 23,943