Progress Energy 2006 Annual Report Download - page 124

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N O T E S T O C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S
122
CONDENSED CONSOLIDATING STATEMENT OF INCOME
Year ended December 31, 2004
(in millions) Parent Subsidiary Guarantor Other Progress Energy, Inc.
Operating revenues
Electric $ – $3,525 $3,628 $7,153
Diversified business – 895 5 900
Total operating revenues – 4,420 3,633 8,053
Operating expenses
Utility
Fuel used in electric generation – 1,175 836 2,011
Purchased power – 567 301 868
Operation and maintenance 10 630 835 1,475
Depreciation and amortization – 281 597 878
Taxes other than on income (2) 254 173 425
Other – (2) (11) (13)
Diversified business
Cost of sales – 911 81 992
Depreciation and amortization – 21 20 41
Other – 46 58 104
Total operating expenses 8 3,883 2,890 6,781
Operating (loss) income (8) 537 743 1,272
Other income (expense), net 65 (4) (46) 15
Interest charges, net 295 152 119 566
(Loss) income from continuing operations before income tax, equity
in earnings of consolidated subsidiaries and minority interest (238) 381 578 721
Income tax (benefit) expense (57) 12 112 67
Equity in earnings of consolidated subsidiaries 940 – (940) –
Minority interest in subsidiaries’ loss, net of tax – 19 – 19
Income (loss) from continuing operations 759 388 (474) 673
Discontinued operations, net of tax – 86 – 86
Net income (loss) $759 $474 $(474) $759