Duke Energy 2015 Annual Report Download - page 227

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207
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 additional information regarding the Duke
Energy Registrants’ unrecognized tax benefits. It is reasonably possible that
Duke Energy could reflect an approximate $65 million reduction and Duke Energy
Carolinas could reflect an approximate $63 million reduction in unrecognized
tax benefits within the next 12 months. All other Duke Energy Registrants do not
anticipate a material increase or decrease in unrecognized tax benefits within
the next 12 months.
December 31, 2015
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Amount that if recognized, would affect the effective tax rate or regulatory liability(a) $ 62 $ 54 $ 2 $ 3 $ 1 $ — $ 2
Amount that if recognized, would be recorded as a component of discontinued
operations 4 — — — — — —
(a) Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana are unable to estimate the specific amounts that would affect the effective tax rate versus the
regulatory liability.
OTHER TAX MATTERS
The following tables include interest recognized in the Consolidated Statements of Operations and the Consolidated Balance Sheets.
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
Net interest income recognized related to income taxes $ 12 $ — $ 2 $ 2 $ 1 $ — $ 1
Net interest expense recognized related to income taxes — 1 — — — — —
Interest receivable related to income taxes 3 — — — — — 3
Interest payable related to income taxes — 14 — 1 — — —
Year Ended December 31, 2014
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Net interest income recognized related to income taxes $ 6 $ — $ 3 $ — $ 1 $ 4 $ 4
Net interest expense recognized related to income taxes — 1 — 1 — — —
Interest receivable related to income taxes — — — — — — 2
Interest payable related to income taxes 13 13 5 3 5 — —
Year Ended December 31, 2013
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Net interest income recognized related to income taxes $ 2 $ 2 $ 6 $ 7 $ — $ 4 $ 1
Interest payable related to income taxes 27 8 10 2 7 — —
Duke Energy and its subsidiaries are no longer subject to U.S. federal examination for years before 2008. The years 2008 through 2011 are in Appeals. The IRS
is currently auditing the federal income tax returns for years 2012 through 2014. With few exceptions, Duke Energy and its subsidiaries are no longer subject to state,
local or non-U.S. income tax examinations by tax authorities for years before 2004.