Exhibit 99.2
DUKE ENERGY CORPORATION
ONGOING TO REPORTED EARNINGS RECONCILIATION
December 2007 Year-to-Date
(Dollars in millions, except per-share amounts)
| | | | Special Items (Note 1) | | | | | | | |
| | Ongoing
Earnings | | Convertible
Debt Costs,
Gas Spin-off | | Costs to
Achieve, Cinergy
Merger | | IT Severance
Costs | | Settlement
Reserves and
Adjustments | | Discontinued
Operations | | Total
Adjustments | | Reported
Earnings | |
SEGMENT EARNINGS BEFORE INTEREST AND TAXES FROM CONTINUING OPERATIONS | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
U.S. Franchised Electric and Gas | | $ | 2,305 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 2,305 | |
| | | | | | | | | | | | | | | | | |
Commercial Power | | 278 | | — | | — | | — | | — | | — | | — | | 278 | |
| | | | | | | | | | | | | | | | | |
International Energy | | 388 | | — | | — | | — | | — | | — | | — | | 388 | |
| | | | | | | | | | | | | | | | | |
Crescent | | 38 | | — | | — | | — | | — | | — | | — | | 38 | |
| | | | | | | | | | | | | | | | | |
Total reportable segment EBIT | | 3,009 | | — | | — | | — | | — | | — | | — | | 3,009 | |
| | | | | | | | | | | | | | | | | |
Other | | (235 | ) | (21 | ) B | (54 | ) A | (12 | ) A | 24 | A | — | | (63 | ) | (298 | ) |
| | | | | | | | | | | | | | | | | |
Total reportable segment and Other EBIT | | $ | 2,774 | | $ | (21 | ) | $ | (54 | ) | $ | (12 | ) | $ | 24 | | $ | — | | $ | (63 | ) | $ | 2,711 | |
| | | | | | | | | | | | | | | | | |
Interest Expense | | (685 | ) | — | | — | | — | | — | | — | | — | | (685 | ) |
Interest Income and Other | | 208 | | — | | — | | — | | — | | — | | — | | 208 | |
Income Taxes from Continuing Operations | | (726 | ) | — | | 19 | | 4 | | (9 | ) | — | | 14 | | (712 | ) |
Discontinued Operations, net of taxes | | — | | — | | — | | — | | — | | (22 | ) C | (22 | ) | (22 | ) |
| | | | | | | | | | | | | | | | | |
Net Income | | $ | 1,571 | | $ | (21 | ) | $ | (35 | ) | $ | (8 | ) | $ | 15 | | $ | (22 | ) | $ | (71 | ) | $ | 1,500 | |
| | | | | | | | | | | | | | | | | |
EARNINGS PER SHARE, BASIC | | $ | 1.25 | | $ | (0.02 | ) | $ | (0.03 | ) | $ | — | | $ | 0.01 | | $ | (0.02 | ) | $ | (0.06 | ) | $ | 1.19 | |
| | | | | | | | | | | | | | | | | |
EARNINGS PER SHARE, DILUTED | | $ | 1.24 | | $ | (0.02 | ) | $ | (0.03 | ) | $ | — | | $ | 0.01 | | $ | (0.02 | ) | $ | (0.06 | ) | $ | 1.18 | |
Note 1 - Amounts for special items are presented net of any related minority interest.
A - - Recorded in Operation, maintenance and other (Operating Expenses) on the Consolidated Statements of Operations.
B - - Recorded in Other income and expenses, net (Other Income and Expenses, net) on the Consolidated Statements of Operations.
C - - Recorded in (Loss) Income From Discontinued Operations, net of tax on the Consolidated Statements of Operations.
Weighted Average Shares (reported and ongoing) - in millions
Basic | | 1,260 | |
| | | |
Diluted | | 1,266 | |
