Duke Energy 2015 Annual Report Download - page 162

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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)
Maturities and Call Options
The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable
and commercial paper and money pool borrowings for the Subsidiary Registrants.
December 31, 2015
(in millions)
Duke
Energy(a)
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
2016 $ 2,074 $ 356 $ 315 $ 2 $ 13 $ 106 $ 547
2017 2,468 115 923 446 482 1 2
2018 3,441 1,629 510 — 512 5 3
2019 3,022 5 1,667 855 14 552 63
2020 2,091 755 415 152 265 25 653
Thereafter 24,616 5,507 10,634 5,063 2,980 909 2,500
Total long-term debt, including current maturities $ 37,712 $ 8,367 $ 14,464 $ 6,518 $ 4,266 $ 1,598 $ 3,768
(a) Excludes $1,857 million in purchase accounting adjustments related to the merger with Progress Energy.
The Duke Energy Registrants have the ability under certain debt facilities to call and repay the obligation prior to its scheduled maturity. Therefore, the actual
timing of future cash repayments could be materially different than as presented above.
Short-Term Obligations Classified as Long-Term Debt
Tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder and certain commercial paper issuances and money pool
borrowings are classified as Long-Term Debt on the Consolidated Balance Sheets. These tax-exempt bonds, commercial paper issuances and money pool borrowings,
which are short-term obligations by nature, are classified as long term due to Duke Energy’s intent and ability to utilize such borrowings as long-term financing.
As Duke Energy’s Master Credit Facility and other bilateral letter of credit agreements have non-cancelable terms in excess of one year as of the balance sheet
date, Duke Energy has the ability to refinance these short-term obligations on a long-term basis. The following tables show short-term obligations classified as
long-term debt.
December 31, 2015
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Progress
Duke
Energy
Ohio
Duke
Energy
Indiana
Tax-exempt bonds $ 347 $ 35 $ — $ 27 $ 285
Commercial paper(a) 625 300 150 25 150
Total $ 972 $ 335 $ 150 $ 52 $ 435
December 31, 2014
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Duke
Energy
Ohio
Duke
Energy
Indiana
Tax-exempt bonds $ 347 $ 35 $ 27 $ 285
Commercial paper 475 300 25 150
Secured debt(b) 200 — — —
Total $ 1,022 $ 335 $ 52 $ 435
(a) Progress Energy amounts are equal to Duke Energy Progress amounts.
(b) In December 2015, Duke Energy used cash held by the lender to repay debt. Instrument had a term of less than one year with the right to extend the maturity date for additional one-year periods with a final maturity date no
later than December 2026.