Progress Energy 2007 Annual Report Download - page 71
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Progress Energy Annual Report 2007
69
CONSOLIDATED BALANCE SHEETS
(in millions)
December 31 2007 2006
ASSETS
Utility plant
Utility plant in service $25,327 $23,743
Accumulated depreciation (10,895) (10,064)
Utility plant in service, net 14,432 13,679
Held for future use 37 10
Construction work in progress 1,765 1,289
Nuclear fuel, net of amortization 371 267
Total utility plant, net 16,605 15,245
Current assets
Cash and cash equivalents 255 265
Short-term investments 171
Receivables, net 1,137 930
Inventory 994 936
Deferred fuel cost 154 196
Deferred income taxes 27 142
Assets to be divested 52 966
Prepayments and other current assets 155 108
Total current assets 2,775 3,614
Deferred debits and other assets
Regulatory assets 931 1,231
Nuclear decommissioning trust funds 1,384 1,287
Miscellaneous other property and investments 448 465
Goodwill 3,655 3,655
Derivative assets 109 2
Other assets and deferred debits 379 208
Total deferred debits and other assets 6,906 6,848
Total assets $26,286 $25,707
CAPITALIZATION AND LIABILITIES
Common stock equity
Common stock without par value, 500 million shares authorized,
260 million and 256 million shares issued and outstanding, respectively $6,028 $5,791
Unearned ESOP shares (2 million shares) (37) (50)
Accumulated other comprehensive loss (34) (49)
Retained earnings 2,465 2,594
Total common stock equity 8,422 8,286
Preferred stock of subsidiaries – not subject to mandatory redemption 93 93
Minority interest 84 10
Long-term debt, affiliate 271 271
Long-term debt, net 8,466 8,564
Total capitalization 17,336 17,224
Current liabilities
Current portion of long-term debt 877 324
Short-term debt 201 –
Accounts payable 789 712
Interest accrued 173 171
Dividends declared 160 156
Customer deposits 255 227
Regulatory liabilities 173 76
Liabilities to be divested 8248
Income taxes accrued 8284
Other current liabilities 604 622
Total current liabilities 3,248 2,820
Deferred credits and other liabilities
Noncurrent income tax liabilities 361 312
Accumulated deferred investment tax credits 139 151
Regulatory liabilities 2,539 2,543
Asset retirement obligations 1,378 1,304
Accrued pension and other benefits 763 957
Capital lease obligations 239 70
Other liabilities and deferred credits 283 326
Total deferred credits and other liabilities 5,702 5,663
Commitments and contingencies (Notes 21 and 22)
Total capitalization and liabilities $26,286 $25,707
See Notes to Consolidated Financial Statements.