Progress Energy 2010 Annual Report Download - page 120
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116
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CONDENSED CONSOLIDATING STATEMENT OF INCOME
Year ended December 31, 2008
(in millions) Parent Subsidiary
Guarantor Non-Guarantor
Subsidiaries Other Progress
Energy, Inc.
Operating revenues
Operating revenues $– $4,738 $4,429 $– $9,167
Affiliate revenues – – 361 (361) –
Total operating revenues – 4,738 4,790 (361) 9,167
Operating expenses
Fuel used in electric generation – 1,675 1,346 – 3,021
Purchased power – 953 346 – 1,299
Operation and maintenance 3 813 1,346 (342) 1,820
Depreciation,amortizationandaccretion – 306 533 – 839
Taxes other than on income – 309 207 (8) 508
Other – 1 (4) – (3)
Total operating expenses 3 4,057 3,774 (350) 7,484
Operating (loss) income (3) 681 1,016 (11) 1,683
Other income (expense)
Interest income 11 9 16 (12) 24
Allowance for equity funds used during construction – 95 27 – 122
Other, net – (18) (4) 5 (17)
Total other income, net 11 86 39 (7) 129
Interest charges
Interest charges 201 263 227 (12) 679
Allowance for borrowed funds used during construction – (28) (12) – (40)
Total interest charges, net 201 235 215 (12) 639
(Loss) income from continuing operations before
income tax and equity in earnings of consolidated
subsidiaries (193) 532 840 (6) 1,173
Income tax (benefit) expense (85) 172 306 2 395
Equity in earnings of consolidated subsidiaries 941 – – (941) –
Income from continuing operations 833 360 534 (949) 778
Discontinued operations, net of tax (3) 61 – – 58
Net income 830 421 534 (949) 836
Net income attributable to noncontrolling interests, net of tax – (6) – – (6)
Net income attributable to controlling interests $830 $415 $534 $(949) $830