UNITED STATES
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 17, 2014
Commission file |
| Registrant, State of Incorporation or Organization, |
| IRS Employer |
1-32853 |
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DUKE ENERGY CORPORATION (a Delaware corporation) 550 South Tryon Street Charlotte, North Carolina 28202-1803 704-382-3853 |
| 20-2777218 |
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1-232 |
| DUKE ENERGY OHIO, INC. (an Ohio corporation) 139 East Fourth Street Cincinnati, Ohio 45202 (704) 382-3853 |
| 31-0240030 |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))
Item 2.06. Material Impairments.
On February 17, 2014, Duke Energy Corporation (the “Company”) announced that it had initiated a strategic process to exit its Midwest commercial generation business, including the sale of 13 power plants owned or partially owned by Duke Energy Ohio, Inc. The estimated fair value of this fleet of power plants is below current book value, and therefore, as a result of this announcement, the Company will take an estimated pre-tax impairment charge of $1 billion to $2 billion in the first quarter of 2014. This impairment charge will be treated as a special item and excluded from the Company’s adjusted diluted earnings per share results.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DUKE ENERGY CORPORATION | |
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Date: February 18, 2014 | By: | /s/ Brian D. Savoy |
| Name: | Brian Savoy |
| Title: | Vice President, Controller and Chief Accounting Officer |
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| DUKE ENERGY OHIO, INC. | |
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Date: February 18, 2014 | By: | /s/ Brian D. Savoy |
| Name: | Brian Savoy |
| Title: | Vice President, Controller and Chief Accounting Officer |