Progress Energy 2007 Annual Report Download - page 128

Download and view the complete annual report

Please find page 128 of the 2007 Progress Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
126
CONDENSED CONSOLIDATING STATEMENT OF INCOME
Year ended December 31, 2005
(in millions) Parent Subsidiary Guarantor Other Progress Energy, Inc.
Operating revenues
Non-affiliate revenues $– $3,956 $3,992 $7,948
Affiliate revenues –188 (188) –
Total operating revenues –4,144 3,804 7,948
Operating expenses
Fuel used in electric generation –1,323 1,036 2,359
Purchased power –694 354 1,048
Operation and maintenance 12 852 906 1,770
Depreciation and amortization –337 589 926
Taxes other than on income 4279 177 460
Other –(5) 2(3)
Total operating expenses 16 3,480 3,064 6,560
Operating (loss) income (16) 664 740 1,388
Other income (expense), net 66 (1) (53) 12
Interest charges, net 305 163 107 575
(Loss) income from continuing operations before income tax, equity
in earnings of consolidated subsidiaries and minority interest (255) 500 580 825
Income tax (benefit) expense (64) 96 266 298
Equity in earnings of consolidated subsidiaries 884 –(884) –
Minority interest in subsidiaries’ income, net of tax –(4) –(4)
Income (loss) from continuing operations 693 400 (570) 523
Discontinued operations, net of tax 4(26) 195 173
Cumulative effect of change in accounting principle, net of tax – – 1 1
Net income (loss) $697 $374 $(374) $697