Progress Energy 2010 Annual Report Download - page 118
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114
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CONDENSED CONSOLIDATING STATEMENT OF INCOME
Year ended December 31, 2010
(in millions) Parent Subsidiary
Guarantor Non-Guarantor
Subsidiaries Other Progress
Energy, Inc.
Operating revenues
Operating revenues $– $5,268 $4,922 $– $10,190
Affiliate revenues – – 248 (248) –
Total operating revenues – 5,268 5,170 (248) 10,190
Operating expenses
Fuel used in electric generation – 1,614 1,686 – 3,300
Purchased power – 977 302 – 1,279
Operation and maintenance 7 912 1,345 (237) 2,027
Depreciation,amortizationandaccretion – 426 494 – 920
Taxes other than on income – 362 225 (7) 580
Other – 17 13 – 30
Total operating expenses 7 4,308 4,065 (244) 8,136
Operating (loss) income (7) 960 1,105 (4) 2,054
Other income (expense)
Interest income 7 2 5 (7) 7
Allowance for equity funds used during construction – 28 64 – 92
Other, net (1) 1 (3) 3 –
Total other income, net 6 31 66 (4) 99
Interest charges
Interest charges 282 293 211 (7) 779
Allowance for borrowed funds used during construction – (13) (19) – (32)
Total interest charges, net 282 280 192 (7) 747
(Loss) income from continuing operations before
income tax and equity in earnings of consolidated subsidiaries (283) 711 979 (1) 1,406
Income tax (benefit) expense (111) 267 378 5 539
Equity in earnings of consolidated subsidiaries 1,027 – – (1,027) –
Income from continuing operations 855 444 601 (1,033) 867
Discontinued operations, net of tax 1 (1) (4) – (4)
Net income 856 443 597 (1,033) 863
Net (income) loss attributable to noncontrolling interests, net of tax – (4) 1 (4) (7)
Net income attributable to controlling interests $856 $439 $598 $(1,037) $856