Duke Energy 2015 Annual Report Download - page 221
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201
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)
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Years ended December 31,
2015(a) $159 $54 $48 $34 $13 $3 $7
2014(a) 143 47 43 30 14 3 7
2013 134 45 45 25 14 3 7
(a) For 2014 and 2015, amounts include the additional employer contribution of 4 percent of eligible pay per pay period for employees not eligible to participate in a defined benefit plan.
22. INCOME TAXES
Income Tax Expense
Components of Income Tax Expense
Year Ended December 31, 2015
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Current income taxes
Federal $ — $ 216 $ (193) $ (56) $ 1 $ (18) $ (86)
State (12) 14 1 (4) (7) (1) (12)
Foreign 99 — — — — — —
Total current income taxes 87 230 (192) (60) (6) (19) (98)
Deferred income taxes
Federal 1,089 345 694 334 290 96 245
State 181 57 27 27 58 5 17
Foreign (17) — — — — — —
Total deferred income taxes(a) 1,253 402 721 361 348 101 262
Investment tax credit amortization (14) (5) (7) (7) — (1) (1)
Income tax expense from continuing operations 1,326 627 522 294 342 81 163
Tax expense (benefit) from discontinued operations 19 — (1) — — 22 —
Total income tax expense included in Consolidated
Statements of Operations $ 1,345 $ 627 $ 521 $ 294 $342 $ 103 $ 163
(a) Includes benefits of net operating loss (NOL) carryforwards and utilization of NOL and tax credit carryforwards of $264 million at Duke Energy, $15 million at Duke Energy Carolinas, $119 million at Progress Energy,
$21 million at Duke Energy Progress, $84 million at Duke Energy Florida, $3 million at Duke Energy Ohio and $45 million at Duke Energy Indiana.