Progress Energy 2007 Annual Report Download - page 116

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
114
Synthetic Fuels segment are not eliminated if the sales price
is reasonable and the future recovery of sales price through
the ratemaking process is probable. The profits realized for
2007, 2006 and 2005 were not significant. Prior to 2006, income
tax expense (benefit) by segment includes the Parent’s
allocation to profitable subsidiaries of income tax benefits
not related to acquisition interest expense in accordance
with the Tax Agreement. Due to the repeal of PUHCA 1935,
the Parent stopped allocating these tax benefits in 2006.
In the following table, capital and investment expenditures
include property additions, acquisitions of nuclear fuel and
other capital investments. Operational results and assets to
be divested are not included in the table presented below.
(in millions) PEC PEF
Corporate
and Other Eliminations Totals
As of and for the year ended December 31, 2007
Revenues
Unaffiliated $4,385 $4,748 $20 $ – $9,153
Intersegment – 1 393 (394) –
Total revenues 4,385 4,749 413 (394) 9,153
Depreciation and amortization 519 366 20 –905
Interest income 21 955 (51) 34
Total interest charges, net 210 173 258 (53) 588
Income tax expense (benefit) 295 144 (105) –334
Segment profit (loss) 498 315 (120) –693
Total assets 11,962 10,004 16,383 (12,115) 26,234
Capital and investment expenditures 941 1,262 3(2) 2,204
As of and for the year ended December 31, 2006
Revenues
Unaffiliated $4,086 $4,638 $ – $ – $8,724
Intersegment – 1 729 (730) –
Total revenues 4,086 4,639 729 (730) 8,724
Depreciation and amortization 571 404 36 –1,011
Interest income 25 15 85 (66) 59
Total interest charges, net 215 150 326 (67) 624
Income tax expense (benefit) 265 193 (119) –339
Segment profit (loss) 454 326 (229) –551
Total assets 12,020 8,593 15,421 (11,293) 24,741
Capital and investment expenditures 808 741 12 (9) 1,552
As of and for the year ended December 31, 2005
Revenues
Unaffiliated $3,991 $3,955 $2 $ – $7,948
Intersegment – – 839 (839) –
Total revenues 3,991 3,955 841 (839) 7,948
Depreciation and amortization 561 334 31 –926
Interest income 8 1 94 (90) 13
Total interest charges, net 192 126 342 (85) 575
Postretirement and severance charges 55 102 1 – 158
Income tax expense (benefit) 239 121 (62) –298
Segment profit (loss) 490 258 (225) –523
Total assets 11,502 8,318 18,278 (13,673) 24,425
Capital and investment expenditures 682 543 19 (19) 1,225