2nd Quarter 2015 Statistical Supplement
| Table of Contents | ||||
| DUKE ENERGY CORPORATION (Unaudited) | DUKE ENERGY OHIO SUPPLEMENT (Unaudited) | |||
| Consolidating Statements of Operations | Consolidating Statements of Operations | |||
| Consolidating Balance Sheets | ||||
| REGULATED UTILITIES (Unaudited) | ||||
| Consolidating Segment Income | ||||
| Consolidating Balance Sheets | ||||
| Operating Statistics (Regulated Utilities) | ||||
| Operating Statistics (Duke Energy Carolinas) | ||||
| Operating Statistics (Duke Energy Progress) | ||||
| Operating Statistics (Duke Energy Florida) | ||||
| Operating Statistics (Duke Energy Ohio - Electric) | ||||
| Operating Statistics (Duke Energy Ohio - Natural Gas) | ||||
| Operating Statistics (Duke Energy Indiana) | ||||
DUKE ENERGY CORPORATION
Consolidating Statements of Operations
(Unaudited)
| Six Months Ended June 30, 2015 | ||||||||||||||||||
| (in millions) | Regulated Utilities | International Energy | Commercial Portfolio | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
| Operating Revenues | ||||||||||||||||||
| Regulated electric | $ | 10,613 | $ | — | $ | — | $ | 2 | $ | (68 | ) | $ | 10,547 | |||||
| Nonregulated electric, natural gas and other | — | 560 | 148 | 59 | 13 | 780 | ||||||||||||
| Regulated natural gas | 330 | — | — | — | (3 | ) | 327 | |||||||||||
| Total operating revenues | 10,943 | 560 | 148 | 61 | (58 | ) | 11,654 | |||||||||||
| Operating Expenses | ||||||||||||||||||
| Fuel used in electric generation and purchased power - regulated | 3,662 | — | — | — | — | 3,662 | ||||||||||||
| Fuel used in electric generation and purchased power - nonregulated | — | 197 | 14 | 12 | (1 | ) | 222 | |||||||||||
| Cost of natural gas and other | 110 | 28 | — | — | (1 | ) | 137 | |||||||||||
| Operation, maintenance and other | 2,615 | 164 | 100 | 21 | (52 | ) | 2,848 | |||||||||||
| Depreciation and amortization | 1,405 | 46 | 50 | 66 | — | 1,567 | ||||||||||||
| Property and other taxes | 516 | 4 | 9 | 14 | — | 543 | ||||||||||||
| Total operating expenses | 8,308 | 439 | 173 | 113 | (54 | ) | 8,979 | |||||||||||
| Gains (Loss) on Sales of Other Assets and Other, Net | 9 | (1 | ) | 6 | 13 | — | 27 | |||||||||||
| Operating Income (Loss) | 2,644 | 120 | (19 | ) | (39 | ) | (4 | ) | 2,702 | |||||||||
| Other Income and Expenses | 131 | 45 | — | 10 | (4 | ) | 182 | |||||||||||
| Interest Expense | 549 | 45 | 22 | 194 | (4 | ) | 806 | |||||||||||
| Income (Loss) from Continuing Operations Before Income Taxes | 2,226 | 120 | (41 | ) | (223 | ) | (4 | ) | 2,078 | |||||||||
Income Tax Expense (Benefit)(a) | 820 | 30 | (9 | ) | (143 | ) | — | 698 | ||||||||||
| Income (Loss) from Continuing Operations | 1,406 | 90 | (32 | ) | (80 | ) | (4 | ) | 1,380 | |||||||||
| Less: Net Income Attributable to Noncontrolling Interest | — | 2 | — | 5 | — | 7 | ||||||||||||
| Segment Income (Loss) / Net Expense | $ | 1,406 | $ | 88 | $ | (32 | ) | $ | (85 | ) | $ | (4 | ) | $ | 1,373 | |||
Income from Discontinued Operations, Net of Tax(b) | 34 | |||||||||||||||||
| Net Income Attributable to Duke Energy Corporation | $ | 1,407 | ||||||||||||||||
| (a) | The amount for Commercial Portfolio includes state tax expense of $41 million, resulting from changes to state apportionment factors due to the sale of the nonregulated Midwest generation business, that does not qualify for discontinued operations. |
| (b) | Includes the after-tax impact of $53 million for the agreement in principle reached in a lawsuit related to the nonregulated Midwest generation business. |
3
DUKE ENERGY CORPORATION
Consolidating Statements of Operations
(Unaudited)
Six Months Ended June 30, 2014(a) | ||||||||||||||||||
| (in millions) | Regulated Utilities | International Energy | Commercial Portfolio | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
| Operating Revenues | ||||||||||||||||||
| Regulated electric | $ | 10,758 | $ | — | $ | — | $ | (1 | ) | $ | (69 | ) | $ | 10,688 | ||||
| Nonregulated electric, natural gas and other | — | 746 | 145 | 55 | 8 | 954 | ||||||||||||
| Regulated natural gas | 330 | — | — | — | (1 | ) | 329 | |||||||||||
| Total operating revenues | 11,088 | 746 | 145 | 54 | (62 | ) | 11,971 | |||||||||||
| Operating Expenses | ||||||||||||||||||
| Fuel used in electric generation and purchased power - regulated | 3,808 | — | — | — | — | 3,808 | ||||||||||||
| Fuel used in electric generation and purchased power - nonregulated | — | 222 | 19 | 23 | (2 | ) | 262 | |||||||||||
| Cost of natural gas and other | 121 | 33 | — | — | — | 154 | ||||||||||||
| Operation, maintenance and other | 2,506 | 175 | 100 | 119 | (55 | ) | 2,845 | |||||||||||
| Depreciation and amortization | 1,365 | 50 | 46 | 56 | — | 1,517 | ||||||||||||
| Property and other taxes | 645 | 5 | 9 | 2 | — | 661 | ||||||||||||
Impairment charges(b) | 1 | — | 94 | (15 | ) | — | 80 | |||||||||||
| Total operating expenses | 8,446 | 485 | 268 | 185 | (57 | ) | 9,327 | |||||||||||
| Gains on Sales of Other Assets and Other, Net | 1 | 5 | — | 1 | — | 7 | ||||||||||||
| Operating Income (Loss) | 2,643 | 266 | (123 | ) | (130 | ) | (5 | ) | 2,651 | |||||||||
| Other Income and Expenses | 131 | 109 | 10 | 15 | (12 | ) | 253 | |||||||||||
| Interest Expense | 545 | 46 | 27 | 201 | (12 | ) | 807 | |||||||||||
| Income (Loss) from Continuing Operations Before Income Taxes | 2,229 | 329 | (140 | ) | (316 | ) | (5 | ) | 2,097 | |||||||||
| Income Tax Expense (Benefit) | 803 | 46 | (87 | ) | (140 | ) | (1 | ) | 621 | |||||||||
| Income (Loss) from Continuing Operations | 1,426 | 283 | (53 | ) | (176 | ) | (4 | ) | 1,476 | |||||||||
| Less: Net Income Attributable to Noncontrolling Interest | — | 7 | — | 1 | — | 8 | ||||||||||||
| Segment Income (Loss) / Net Expense | $ | 1,426 | $ | 276 | $ | (53 | ) | $ | (177 | ) | $ | (4 | ) | $ | 1,468 | |||
| Loss from Discontinued Operations, Net of Tax | (956 | ) | ||||||||||||||||
| Net Income Attributable to Duke Energy Corporation | $ | 512 | ||||||||||||||||
| (a) | Reflects reclassifications due to the impact of discontinued operations. |
| (b) | The impairment charge for Commercial Portfolio is related to OVEC. |
4
DUKE ENERGY CORPORATION
Consolidating Balance Sheets - Assets
(Unaudited)
| June 30, 2015 | ||||||||||||||||||
| (in millions) | Regulated Utilities | International Energy | Commercial Portfolio | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
| Current Assets | ||||||||||||||||||
| Cash and cash equivalents | $ | 88 | $ | 664 | $ | 19 | $ | 189 | $ | — | $ | 960 | ||||||
| Receivables, net | 378 | 238 | — | 37 | (3 | ) | 650 | |||||||||||
| Restricted receivables of variable interest entities, net | 2,013 | — | 13 | 20 | — | 2,046 | ||||||||||||
| Receivables from affiliated companies | 105 | 120 | 1,260 | 12,620 | (14,105 | ) | — | |||||||||||
| Notes receivable from affiliated companies | 526 | — | — | 204 | (730 | ) | — | |||||||||||
| Inventory | 3,365 | 71 | 7 | 26 | — | 3,469 | ||||||||||||
| Regulatory assets | 903 | — | — | 72 | — | 975 | ||||||||||||
| Other | 598 | 35 | 180 | 720 | (35 | ) | 1,498 | |||||||||||
| Total current assets | 7,976 | 1,128 | 1,479 | 13,888 | (14,873 | ) | 9,598 | |||||||||||
| Investments and Other Assets | ||||||||||||||||||
| Investments in equity method unconsolidated affiliates | 2 | 60 | 285 | 28 | — | 375 | ||||||||||||
| Investments and advances to (from) subsidiaries | 54 | (21 | ) | (74 | ) | 40,126 | (40,085 | ) | — | |||||||||
| Nuclear decommissioning trust funds | 5,529 | — | — | — | — | 5,529 | ||||||||||||
| Goodwill | 15,950 | 290 | 88 | — | — | 16,328 | ||||||||||||
| Other | 2,033 | 406 | 81 | 1,195 | (476 | ) | 3,239 | |||||||||||
| Total investments and other assets | 23,568 | 735 | 380 | 41,349 | (40,561 | ) | 25,471 | |||||||||||
| Property, Plant and Equipment | ||||||||||||||||||
| Cost | 99,221 | 3,098 | 3,139 | 1,667 | — | 107,125 | ||||||||||||
| Accumulated depreciation and amortization | (33,569 | ) | (956 | ) | (387 | ) | (914 | ) | — | (35,826 | ) | |||||||
| Generation facilities to be retired, net | 460 | — | — | — | — | 460 | ||||||||||||
| Net property, plant and equipment | 66,112 | 2,142 | 2,752 | 753 | — | 71,759 | ||||||||||||
| Regulatory Assets and Deferred Debits | ||||||||||||||||||
| Regulatory assets | 11,101 | — | — | 463 | — | 11,564 | ||||||||||||
| Other | 98 | 6 | 38 | 41 | — | 183 | ||||||||||||
| Total regulatory assets and deferred debits | 11,199 | 6 | 38 | 504 | — | 11,747 | ||||||||||||
| Total Assets | 108,855 | 4,011 | 4,649 | 56,494 | (55,434 | ) | 118,575 | |||||||||||
| Segment reclassifications, intercompany balances and other | (716 | ) | (98 | ) | (1,187 | ) | (53,614 | ) | 55,615 | — | ||||||||
| Reportable Segment Assets | $ | 108,139 | $ | 3,913 | $ | 3,462 | $ | 2,880 | $ | 181 | $ | 118,575 | ||||||
5
DUKE ENERGY CORPORATION
Consolidating Balance Sheets - Liabilities and Equity
(Unaudited)
| June 30, 2015 | ||||||||||||||||||
| (in millions) | Regulated Utilities | International Energy | Commercial Portfolio | Other | Eliminations / Adjustments | Duke Energy | ||||||||||||
| Current Liabilities | ||||||||||||||||||
| Accounts payable | $ | 1,538 | $ | 41 | $ | 31 | $ | 310 | $ | — | $ | 1,920 | ||||||
| Accounts payable to affiliated companies | 13,009 | 7 | 27 | 962 | (14,005 | ) | — | |||||||||||
| Notes payable to affiliated companies | 204 | — | — | 526 | (730 | ) | — | |||||||||||
| Notes payable and commercial paper | — | — | — | 2,162 | — | 2,162 | ||||||||||||
| Taxes accrued | 589 | 1,115 | (64 | ) | (1,090 | ) | — | 550 | ||||||||||
| Interest accrued | 303 | 21 | — | 95 | — | 419 | ||||||||||||
| Current maturities of long-term debt | 1,945 | 31 | 73 | 325 | — | 2,374 | ||||||||||||
| Regulatory liabilities | 234 | — | — | 11 | — | 245 | ||||||||||||
| Other | 1,428 | 173 | 32 | 482 | (139 | ) | 1,976 | |||||||||||
| Total current liabilities | 19,250 | 1,388 | 99 | 3,783 | (14,874 | ) | 9,646 | |||||||||||
| Long-Term Debt | 24,774 | 969 | 917 | 10,136 | (1 | ) | 36,795 | |||||||||||
| Notes Payable to Affiliated Companies | 475 | — | — | — | (475 | ) | — | |||||||||||
| Deferred Credits and Other Liabilities | ||||||||||||||||||
| Deferred income taxes | 14,643 | (576 | ) | 367 | (769 | ) | (1 | ) | 13,664 | |||||||||
| Investment tax credits | 420 | — | — | — | — | 420 | ||||||||||||
| Accrued pension and other post-retirement benefit costs | 738 | 1 | — | 413 | — | 1,152 | ||||||||||||
| Asset retirement obligations | 9,437 | 3 | 48 | 2 | — | 9,490 | ||||||||||||
| Regulatory liabilities | 6,159 | — | — | 44 | — | 6,203 | ||||||||||||
| Other | 1,066 | 73 | 57 | 392 | — | 1,588 | ||||||||||||
| Total deferred credits and other liabilities | 32,463 | (499 | ) | 472 | 82 | (1 | ) | 32,517 | ||||||||||
| Equity | ||||||||||||||||||
| Total Duke Energy Corporation stockholders' equity | 31,893 | 2,111 | 3,161 | 42,509 | (40,094 | ) | 39,580 | |||||||||||
| Noncontrolling interests | — | 42 | — | (16 | ) | 11 | 37 | |||||||||||
| Total equity | 31,893 | 2,153 | 3,161 | 42,493 | (40,083 | ) | 39,617 | |||||||||||
| Total Liabilities and Equity | 108,855 | 4,011 | 4,649 | 56,494 | (55,434 | ) | 118,575 | |||||||||||
| Segment reclassifications, intercompany balances and other | (716 | ) | (98 | ) | (1,187 | ) | (53,614 | ) | 55,615 | — | ||||||||
| Reportable Segment Liabilities and Equity | $ | 108,139 | $ | 3,913 | $ | 3,462 | $ | 2,880 | $ | 181 | $ | 118,575 | ||||||
6
REGULATED UTILITIES
Consolidating Segment Income
(Unaudited)
| Six Months Ended June 30, 2015 | |||||||||||||||||||||
| (in millions) | Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | Eliminations / Adjustments | Regulated Utilities | ||||||||||||||
| Operating Revenues | |||||||||||||||||||||
| Regulated electric | $ | 3,608 | $ | 2,642 | $ | 2,367 | $ | 638 | $ | 1,474 | $ | (116 | ) | $ | 10,613 | ||||||
| Regulated natural gas | — | — | — | 330 | — | — | 330 | ||||||||||||||
| Total operating revenues | 3,608 | 2,642 | 2,367 | 968 | 1,474 | (116 | ) | 10,943 | |||||||||||||
| Operating Expenses | |||||||||||||||||||||
| Fuel used in electric generation and purchased power - regulated | 1,005 | 1,024 | 1,011 | 222 | 529 | (129 | ) | 3,662 | |||||||||||||
| Cost of natural gas | — | — | — | 109 | — | 1 | 110 | ||||||||||||||
| Operation, maintenance and other | 929 | 724 | 381 | 222 | 355 | 4 | 2,615 | ||||||||||||||
| Depreciation and amortization | 510 | 315 | 256 | 115 | 211 | (2 | ) | 1,405 | |||||||||||||
| Property and other taxes | 137 | 67 | 168 | 127 | 18 | (1 | ) | 516 | |||||||||||||
| Total operating expenses | 2,581 | 2,130 | 1,816 | 795 | 1,113 | (127 | ) | 8,308 | |||||||||||||
| Gains on Sales of Other Assets and Other, Net | — | 1 | — | 8 | 1 | (1 | ) | 9 | |||||||||||||
| Operating Income | 1,027 | 513 | 551 | 181 | 362 | 10 | 2,644 | ||||||||||||||
Other Income and Expenses(a) | 83 | 35 | 10 | (2 | ) | 9 | (4 | ) | 131 | ||||||||||||
| Interest Expense | 208 | 116 | 99 | 38 | 88 | — | 549 | ||||||||||||||
| Income from Continuing Operations Before Income Taxes | 902 | 432 | 462 | 141 | 283 | 6 | 2,226 | ||||||||||||||
| Income Tax Expense | 327 | 156 | 178 | 52 | 103 | 4 | 820 | ||||||||||||||
| Segment Income | $ | 575 | $ | 276 | $ | 284 | $ | 89 | $ | 180 | $ | 2 | $ | 1,406 | |||||||
| (a) | Includes an equity component of allowance for funds used during construction of $48 million for Duke Energy Carolinas, $23 million for Duke Energy Progress, $2 million for Duke Energy Florida, $2 million for Duke Energy Ohio, and $6 million for Duke Energy Indiana. |
7
REGULATED UTILITIES
Consolidating Segment Income
(Unaudited)
Six Months Ended June 30, 2014 (a) | |||||||||||||||||||||
| (in millions) | Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | Eliminations / Adjustments | Regulated Utilities | ||||||||||||||
| Operating Revenues | |||||||||||||||||||||
| Regulated electric | $ | 3,755 | $ | 2,615 | $ | 2,341 | $ | 647 | $ | 1,593 | $ | (193 | ) | $ | 10,758 | ||||||
| Regulated natural gas | — | — | — | 330 | — | — | 330 | ||||||||||||||
| Total operating revenues | 3,755 | 2,615 | 2,341 | 977 | 1,593 | (193 | ) | 11,088 | |||||||||||||
| Operating Expenses | |||||||||||||||||||||
| Fuel used in electric generation and purchased power - regulated | 1,146 | 1,019 | 993 | 231 | 626 | (207 | ) | 3,808 | |||||||||||||
| Cost of natural gas | — | — | — | 121 | — | — | 121 | ||||||||||||||
| Operation, maintenance and other | 891 | 699 | 396 | 202 | 314 | 4 | 2,506 | ||||||||||||||
| Depreciation and amortization | 490 | 286 | 271 | 111 | 205 | 2 | 1,365 | ||||||||||||||
| Property and other taxes | 204 | 121 | 167 | 109 | 44 | — | 645 | ||||||||||||||
| Impairment charges | — | — | 1 | — | — | — | 1 | ||||||||||||||
| Total operating expenses | 2,731 | 2,125 | 1,828 | 774 | 1,189 | (201 | ) | 8,446 | |||||||||||||
| Gains on Sales of Other Assets and Other, Net | — | 1 | — | 1 | — | (1 | ) | 1 | |||||||||||||
| Operating Income | 1,024 | 491 | 513 | 204 | 404 | 7 | 2,643 | ||||||||||||||
Other Income and Expenses(b) | 93 | 16 | 11 | 5 | 11 | (5 | ) | 131 | |||||||||||||
| Interest Expense | 203 | 115 | 99 | 41 | 87 | — | 545 | ||||||||||||||
| Income from Continuing Operations Before Income Taxes | 914 | 392 | 425 | 168 | 328 | 2 | 2,229 | ||||||||||||||
| Income Tax Expense | 310 | 145 | 164 | 60 | 121 | 3 | 803 | ||||||||||||||
| Segment Income | $ | 604 | $ | 247 | $ | 261 | $ | 108 | $ | 207 | $ | (1 | ) | $ | 1,426 | ||||||
| (a) | Reflects reclassifications due to the impact of discontinued operations. |
| (b) | Contains equity component of allowance for funds used during construction of $44 million for Duke Energy Carolinas, $9 million for Duke Energy Progress, $2 million for Duke Energy Ohio, and $6 million for Duke Energy Indiana. |
8
REGULATED UTILITIES
Consolidating Balance Sheets - Assets
(Unaudited)
| June 30, 2015 | |||||||||||||||||||||
| (in millions) | Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | Eliminations / Adjustments(a) | Regulated Utilities | ||||||||||||||
| Current Assets | |||||||||||||||||||||
| Cash and cash equivalents | $ | 28 | $ | 13 | $ | 13 | $ | 22 | $ | 12 | $ | — | $ | 88 | |||||||
| Receivables, net | 76 | 49 | 85 | 80 | 86 | 2 | 378 | ||||||||||||||
| Restricted receivables of variable interest entities, net | 692 | 469 | 385 | — | — | 467 | 2,013 | ||||||||||||||
| Receivables from affiliated companies | 106 | 4 | 93 | 65 | 53 | (216 | ) | 105 | |||||||||||||
| Notes receivable from affiliated companies | 700 | — | — | 15 | 25 | (214 | ) | 526 | |||||||||||||
| Inventory | 1,154 | 914 | 615 | 102 | 579 | 1 | 3,365 | ||||||||||||||
| Regulatory assets | 343 | 316 | 119 | 21 | 91 | 13 | 903 | ||||||||||||||
| Other | 52 | 49 | 300 | 50 | 125 | 22 | 598 | ||||||||||||||
| Total current assets | 3,151 | 1,814 | 1,610 | 355 | 971 | 75 | 7,976 | ||||||||||||||
| Investments and Other Assets | |||||||||||||||||||||
| Investments in equity method unconsolidated affiliates | — | — | 1 | — | — | 1 | 2 | ||||||||||||||
| Investments and advances to subsidiaries | 17 | 34 | 2 | — | — | 1 | 54 | ||||||||||||||
| Nuclear decommissioning trust funds | 3,094 | 1,734 | 701 | — | — | — | 5,529 | ||||||||||||||
| Goodwill | — | — | — | 920 | — | 15,030 | 15,950 | ||||||||||||||
| Other | 1,041 | 464 | 282 | 27 | 247 | (28 | ) | 2,033 | |||||||||||||
| Total investments and other assets | 4,152 | 2,232 | 986 | 947 | 247 | 15,004 | 23,568 | ||||||||||||||
| Property, Plant and Equipment | |||||||||||||||||||||
| Cost | 38,085 | 24,093 | 14,854 | 7,613 | 13,667 | 909 | 99,221 | ||||||||||||||
| Accumulated depreciation and amortization | (13,120 | ) | (8,982 | ) | (4,625 | ) | (2,496 | ) | (4,344 | ) | (2 | ) | (33,569 | ) | |||||||
| Generation facilities to be retired, net | — | 460 | — | — | — | — | 460 | ||||||||||||||
| Net property, plant and equipment | 24,965 | 15,571 | 10,229 | 5,117 | 9,323 | 907 | 66,112 | ||||||||||||||
| Regulatory Assets and Deferred Debits | |||||||||||||||||||||
| Regulatory assets | 2,631 | 3,077 | 2,694 | 514 | 707 | 1,478 | 11,101 | ||||||||||||||
| Other | 44 | 33 | 37 | 8 | 23 | (47 | ) | 98 | |||||||||||||
| Total regulatory assets and deferred debits | 2,675 | 3,110 | 2,731 | 522 | 730 | 1,431 | 11,199 | ||||||||||||||
| Total Assets | 34,943 | 22,727 | 15,556 | 6,941 | 11,271 | 17,417 | 108,855 | ||||||||||||||
| Segment reclassifications, intercompany balances and other | (120 | ) | (468 | ) | (74 | ) | — | (1 | ) | (53 | ) | (716 | ) | ||||||||
| Reportable Segment Assets | $ | 34,823 | $ | 22,259 | $ | 15,482 | $ | 6,941 | $ | 11,270 | $ | 17,364 | $ | 108,139 | |||||||
| (a) | Includes the elimination of intercompany balances, purchase accounting adjustments and restricted receivables related to Cinergy Receivables Company. |
9
REGULATED UTILITIES
Consolidating Balance Sheets - Liabilities and Equity
(Unaudited)
| June 30, 2015 | |||||||||||||||||||||
| (in millions) | Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | Eliminations / Adjustments(a) | Regulated Utilities | ||||||||||||||
| Current Liabilities | |||||||||||||||||||||
| Accounts payable | $ | 494 | $ | 342 | $ | 346 | $ | 189 | $ | 165 | $ | 2 | $ | 1,538 | |||||||
| Accounts payable to affiliated companies | 139 | 180 | 72 | 59 | 56 | 12,503 | 13,009 | ||||||||||||||
| Notes payable to affiliated companies | — | 192 | 221 | 5 | — | (214 | ) | 204 | |||||||||||||
| Taxes accrued | 228 | 115 | 133 | 76 | 34 | 3 | 589 | ||||||||||||||
| Interest accrued | 104 | 78 | 45 | 18 | 58 | — | 303 | ||||||||||||||
| Current maturities of long-term debt | 506 | 402 | 562 | 56 | 330 | 89 | 1,945 | ||||||||||||||
| Regulatory liabilities | 31 | 74 | 48 | 24 | 57 | — | 234 | ||||||||||||||
| Other | 379 | 349 | 543 | 67 | 90 | — | 1,428 | ||||||||||||||
| Total current liabilities | 1,881 | 1,732 | 1,970 | 494 | 790 | 12,383 | 19,250 | ||||||||||||||
| Long-Term Debt | 8,079 | 5,255 | 4,293 | 1,524 | 3,311 | 2,312 | 24,774 | ||||||||||||||
| Long-Term Debt Payable to Affiliated Companies | 300 | — | — | 25 | 150 | — | 475 | ||||||||||||||
| Deferred Credits and Other Liabilities | |||||||||||||||||||||
| Deferred income taxes | 6,033 | 3,004 | 2,519 | 1,353 | 1,696 | 38 | 14,643 | ||||||||||||||
| Investment tax credits | 201 | 75 | — | 4 | 138 | 2 | 420 | ||||||||||||||
| Accrued pension and other post-retirement benefit costs | 109 | 281 | 252 | 54 | 82 | (40 | ) | 738 | |||||||||||||
| Asset retirement obligations | 3,604 | 4,262 | 733 | 143 | 453 | 242 | 9,437 | ||||||||||||||
| Regulatory liabilities | 2,738 | 1,891 | 494 | 257 | 776 | 3 | 6,159 | ||||||||||||||
| Other | 617 | 92 | 145 | 162 | 59 | (9 | ) | 1,066 | |||||||||||||
| Total deferred credits and other liabilities | 13,302 | 9,605 | 4,143 | 1,973 | 3,204 | 236 | 32,463 | ||||||||||||||
| Equity | 11,381 | 6,135 | 5,150 | 2,925 | 3,816 | 2,486 | 31,893 | ||||||||||||||
| Total Liabilities and Equity | 34,943 | 22,727 | 15,556 | 6,941 | 11,271 | 17,417 | 108,855 | ||||||||||||||
| Segment reclassifications, intercompany balances and other | (120 | ) | (468 | ) | (74 | ) | — | (1 | ) | (53 | ) | (716 | ) | ||||||||
| Reportable Segment Liabilities and Equity | $ | 34,823 | $ | 22,259 | $ | 15,482 | $ | 6,941 | $ | 11,270 | $ | 17,364 | $ | 108,139 | |||||||
| (a) | Includes the elimination of intercompany balances, purchase accounting adjustments and restricted receivables related to Cinergy Receivables Company. |
10
REGULATED UTILITIES
Operating Statistics (Regulated Utilities)
(Unaudited)
| Six Months Ended June 30, | |||||
| 2015 | 2014 | ||||
| Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
| Coal | 38,924 | 47,145 | |||
| Nuclear | 34,111 | 33,279 | |||
| Hydro | 934 | 1,324 | |||
| Oil and natural gas | 29,521 | 23,466 | |||
| Renewable energy | 7 | 7 | |||
Total generation (b) | 103,497 | 105,221 | |||
Purchased power and net interchange (c) | 16,307 | 13,809 | |||
| Total sources of energy | 119,804 | 119,030 | |||
| Less: Line loss and company usage | 5,938 | 5,652 | |||
| Total GWh Sources | 113,866 | 113,378 | |||
Electric Energy Sales (GWh) (d) | |||||
| Residential | 42,019 | 42,104 | |||
| General service | 37,077 | 36,872 | |||
| Industrial | 25,369 | 25,136 | |||
| Other energy and wholesale | 18,402 | 18,824 | |||
| Change in unbilled | 1,332 | 580 | |||
| Total GWh Sales | 124,199 | 123,516 | |||
Owned MW Capacity (a) | |||||
| Summer | 49,576 | 49,452 | |||
| Winter | 52,831 | 52,790 | |||
Nuclear Capacity Factor (%) (e) | 93 | 91 | |||
| (a) | Statistics reflect Duke Energy's ownership share of jointly owned stations. |
| (b) | Generation by source is reported net of auxiliary power. |
| (c) | Purchased power includes renewable energy purchases. |
| (d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
| (e) | Statistics reflect 100% of jointly owned stations. |
Note: Total GWh Sources will not equal Total GWh Sales. Sources include Duke Energy Kentucky's regulated generation for all periods. Sales include Duke Energy Ohio's and its subsidiary Duke Energy Kentucky's retail sales. Ohio retail sales are fulfilled through auction purchases under the current ESP.
11
REGULATED UTILITIES
Operating Statistics (Regulated Utilities)
(Unaudited)
| Six Months Ended June 30, | |||||||
| 2015 | 2014 | ||||||
| Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
| Residential | $ | 4,597 | $ | 4,592 | |||
| General service | 3,023 | 3,071 | |||||
| Industrial | 1,504 | 1,517 | |||||
Other energy and wholesale (a) | 1,191 | 1,173 | |||||
| Change in unbilled | 54 | 37 | |||||
| Total Revenues | $ | 10,369 | $ | 10,390 | |||
| Average Number of Customers (in thousands) | |||||||
| Residential | 6,345 | 6,266 | |||||
| General service | 950 | 941 | |||||
| Industrial | 18 | 18 | |||||
| Other energy and wholesale | 23 | 22 | |||||
| Total Average Number of Customers | 7,336 | 7,247 | |||||
| (a) | Net of Joint Dispatch Agreement intercompany sales. |
12
REGULATED UTILITIES
Operating Statistics (Duke Energy Carolinas)
(Unaudited)
| Six Months Ended June 30, | |||||
| 2015 | 2014 | ||||
| Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
| Coal | 13,530 | 17,621 | |||
| Nuclear | 23,119 | 21,512 | |||
| Hydro | 476 | 758 | |||
| Oil and natural gas | 4,991 | 3,676 | |||
| Renewable energy | 7 | 7 | |||
Total generation (b) | 42,123 | 43,574 | |||
Purchased power and net interchange (c) | 4,257 | 3,533 | |||
| Total sources of energy | 46,380 | 47,107 | |||
| Less: Line loss and company usage | 2,606 | 2,578 | |||
| Total GWh Sources | 43,774 | 44,529 | |||
Electric Energy Sales (GWh) (d) | |||||
| Residential | 14,232 | 14,436 | |||
| General service | 13,801 | 13,734 | |||
| Industrial | 10,689 | 10,381 | |||
| Other energy and wholesale | 4,698 | 5,793 | |||
| Change in unbilled | 354 | 185 | |||
| Total GWh Sales | 43,774 | 44,529 | |||
Owned MW Capacity (a) | |||||
| Summer | 19,645 | 19,770 | |||
| Winter | 20,357 | 20,496 | |||
Nuclear Capacity Factor (%) (e) | 98 | 92 | |||
| (a) | Statistics reflect Duke Energy Carolinas' ownership share of jointly owned stations. |
| (b) | Generation by source is reported net of auxiliary power. |
| (c) | Purchased power includes renewable energy purchases. |
| (d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
| (e) | Statistics reflect 100% of jointly owned stations. |
13
REGULATED UTILITIES
Operating Statistics (Duke Energy Carolinas)
(Unaudited)
| Six Months Ended June 30, | |||||||
| 2015 | 2014 | ||||||
| Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
| Residential | $ | 1,506 | $ | 1,518 | |||
| General service | 1,071 | 1,090 | |||||
| Industrial | 610 | 587 | |||||
| Other energy and wholesale | 293 | 360 | |||||
| Change in unbilled | 31 | 17 | |||||
| Total Revenues | $ | 3,511 | $ | 3,572 | |||
| Average Number of Customers (in thousands) | |||||||
| Residential | 2,111 | 2,083 | |||||
| General service | 344 | 342 | |||||
| Industrial | 6 | 6 | |||||
| Other energy and wholesale | 15 | 14 | |||||
| Total Average Number of Customers | 2,476 | 2,445 | |||||
14
REGULATED UTILITIES
Operating Statistics (Duke Energy Progress)
(Unaudited)
| Six Months Ended June 30, | |||||
| 2015 | 2014 | ||||
| Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
| Coal | 7,344 | 8,252 | |||
| Nuclear | 10,992 | 11,767 | |||
| Hydro | 334 | 451 | |||
| Oil and natural gas | 11,326 | 8,221 | |||
Total generation (b) | 29,996 | 28,691 | |||
Purchased power and net interchange (c) | 3,180 | 3,227 | |||
| Total sources of energy | 33,176 | 31,918 | |||
| Less: Line loss and company usage | 1,459 | 1,064 | |||
| Total GWh Sources | 31,717 | 30,854 | |||
Electric Energy Sales (GWh) (d) | |||||
| Residential | 9,440 | 9,539 | |||
| General service | 7,437 | 7,410 | |||
| Industrial | 5,002 | 4,997 | |||
| Other energy and wholesale | 9,709 | 8,935 | |||
| Change in unbilled | 129 | (27 | ) | ||
| Total GWh Sales | 31,717 | 30,854 | |||
Owned MW Capacity (a) | |||||
| Summer | 12,222 | 12,221 | |||
| Winter | 13,319 | 13,334 | |||
Nuclear Capacity Factor (%) (e) | 83 | 89 | |||
| (a) | Statistics reflect Duke Energy Progress' ownership share of jointly owned stations. |
| (b) | Generation by source is reported net of auxiliary power. |
| (c) | Purchased power includes renewable energy purchases. |
| (d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
| (e) | Statistics reflect 100% of jointly owned stations. |
15
REGULATED UTILITIES
Operating Statistics (Duke Energy Progress)
(Unaudited)
| Six Months Ended June 30, | |||||||
| 2015 | 2014 | ||||||
| Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
| Residential | $ | 991 | $ | 979 | |||
| General service | 643 | 635 | |||||
| Industrial | 323 | 325 | |||||
| Other energy and wholesale | 595 | 595 | |||||
| Change in unbilled | 8 | 4 | |||||
| Total Revenues | $ | 2,560 | $ | 2,538 | |||
| Average Number of Customers (in thousands) | |||||||
| Residential | 1,270 | 1,253 | |||||
| General service | 225 | 222 | |||||
| Industrial | 4 | 4 | |||||
| Other energy and wholesale | 2 | 2 | |||||
| Total Average Number of Customers | 1,501 | 1,481 | |||||
16
REGULATED UTILITIES
Operating Statistics (Duke Energy Florida)
(Unaudited)
| Six Months Ended June 30, | |||||
| 2015 | 2014 | ||||
| Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
| Coal | 5,197 | 5,946 | |||
| Oil and natural gas | 11,913 | 11,122 | |||
Total generation (b) | 17,110 | 17,068 | |||
Purchased power and net interchange (c) | 3,294 | 2,534 | |||
| Total sources of energy | 20,404 | 19,602 | |||
| Less: Line loss and company usage | 1,129 | 1,101 | |||
| Total GWh Sources | 19,275 | 18,501 | |||
Electric Energy Sales (GWh) (d) | |||||
| Residential | 9,048 | 8,447 | |||
| General service | 7,092 | 6,950 | |||
| Industrial | 1,581 | 1,604 | |||
| Other energy and wholesale | 761 | 769 | |||
| Change in unbilled | 793 | 731 | |||
| Total GWh Sales | 19,275 | 18,501 | |||
Owned MW Capacity (a) | |||||
| Summer | 9,154 | 8,929 | |||
| Winter | 10,120 | 9,948 | |||
| (a) | Statistics reflect Duke Energy Florida's ownership share of jointly owned stations. |
| (b) | Generation by source is reported net of auxiliary power. |
| (c) | Purchased power includes renewable energy purchases. |
| (d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
17
REGULATED UTILITIES
Operating Statistics (Duke Energy Florida)
(Unaudited)
| Six Months Ended June 30, | |||||||
| 2015 | 2014 | ||||||
| Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
| Residential | $ | 1,214 | $ | 1,169 | |||
| General service | 727 | 739 | |||||
| Industrial | 142 | 149 | |||||
| Other energy and wholesale | 241 | 224 | |||||
| Change in unbilled | 24 | 43 | |||||
| Total Revenues | $ | 2,348 | $ | 2,324 | |||
| Average Number of Customers (in thousands) | |||||||
| Residential | 1,519 | 1,495 | |||||
| General service | 193 | 191 | |||||
| Industrial | 2 | 2 | |||||
| Other energy and wholesale | 2 | 2 | |||||
| Total Average Number of Customers | 1,716 | 1,690 | |||||
18
REGULATED UTILITIES
Operating Statistics (Duke Energy Ohio - Electric)
(Unaudited)
| Six Months Ended June 30, | |||||
| 2015 | 2014 | ||||
| Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
| Coal | 2,388 | 1,072 | |||
| Natural gas | 30 | 16 | |||
Total generation (b) | 2,418 | 1,088 | |||
Purchased power and net interchange (c) | 527 | 1,289 | |||
| Total sources of energy | 2,945 | 2,377 | |||
| Less: Line loss and company usage | 278 | 212 | |||
| Total GWh Sources | 2,667 | 2,165 | |||
Electric Energy Sales (GWh) (d) | |||||
| Residential | 4,492 | 4,592 | |||
| General service | 4,678 | 4,671 | |||
| Industrial | 2,927 | 2,930 | |||
| Other energy and wholesale | 854 | 192 | |||
| Change in unbilled | 49 | (82 | ) | ||
| Total GWh Sales | 13,000 | 12,303 | |||
Owned MW Capacity (a) | |||||
| Summer | 1,062 | 1,039 | |||
| Winter | 1,164 | 1,141 | |||
| (a) | Statistics reflect Duke Energy Ohio's ownership share of jointly owned stations. |
| (b) | Generation by source is reported net of auxiliary power. |
| (c) | Purchased power includes renewable energy purchases. |
| (d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
Note: Total GWh Sources will not equal Total GWh Sales. Sources include only Duke Energy Kentucky's regulated generation for all periods. Sales include Duke Energy Ohio's and its subsidiary Duke Energy Kentucky's retail sales. Ohio retail sales are fulfilled through auction purchases under the current ESP.
19
REGULATED UTILITIES
Operating Statistics (Duke Energy Ohio - Electric)
(Unaudited)
| Six Months Ended June 30, | |||||||
| 2015 | 2014 | ||||||
| Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
| Residential | $ | 354 | $ | 356 | |||
| General service | 213 | 217 | |||||
| Industrial | 56 | 55 | |||||
| Other energy and wholesale | 22 | 15 | |||||
| Change in unbilled | 6 | (7 | ) | ||||
| Total Revenues | $ | 651 | $ | 636 | |||
| Average Number of Electric Customers (in thousands) | |||||||
| Residential | 747 | 742 | |||||
| General service | 87 | 86 | |||||
| Industrial | 3 | 3 | |||||
| Other energy and wholesale | 3 | 3 | |||||
| Total Average Number of Customers | 840 | 834 | |||||
20
REGULATED UTILITIES
Operating Statistics (Duke Energy Ohio - Natural Gas)
(Unaudited)
| Six Months Ended June 30, | |||||||
| 2015 | 2014 | ||||||
MCF Sales (a) | |||||||
| Residential | 27,231,220 | 29,534,496 | |||||
| General service | 16,625,080 | 17,624,423 | |||||
| Industrial | 4,411,288 | 4,321,235 | |||||
| Other energy and wholesale | 10,754,865 | 11,419,293 | |||||
| Change in unbilled | (3,245,000 | ) | (4,902,000 | ) | |||
| Total MCF Sales | 55,777,453 | 57,997,447 | |||||
| Revenues from Distribution of Natural Gas (in millions) | |||||||
| Residential | $ | 227 | $ | 227 | |||
| General service | 96 | 95 | |||||
| Industrial | 14 | 13 | |||||
| Other energy and wholesale | 11 | 10 | |||||
| Change in unbilled | (14 | ) | (19 | ) | |||
| Total Revenues | $ | 334 | $ | 326 | |||
| Average Number of Natural Gas Customers (in thousands) | |||||||
| Residential | 477 | 475 | |||||
| General service | 44 | 44 | |||||
| Industrial | 2 | 2 | |||||
| Total Average Number of Customers | 523 | 521 | |||||
| (a) | Represents non-weather normalized billed sales, with gas delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
21
REGULATED UTILITIES
Operating Statistics (Duke Energy Indiana)
(Unaudited)
| Six Months Ended June 30, | |||||
| 2015 | 2014 | ||||
| Sources of Electric Energy (GWh) | |||||
Generated - net output (a) | |||||
| Coal | 10,465 | 14,254 | |||
| Hydro | 124 | 115 | |||
| Natural gas | 1,261 | 431 | |||
Total generation (b) | 11,850 | 14,800 | |||
Purchased power and net interchange (c) | 5,049 | 3,226 | |||
| Total sources of energy | 16,899 | 18,026 | |||
| Less: Line loss and company usage | 466 | 697 | |||
| Total GWh Sources | 16,433 | 17,329 | |||
Electric Energy Sales (GWh) (d) | |||||
| Residential | 4,807 | 5,090 | |||
| General service | 4,069 | 4,107 | |||
| Industrial | 5,170 | 5,224 | |||
| Other energy and wholesale | 2,380 | 3,135 | |||
| Change in unbilled | 7 | (227 | ) | ||
| Total GWh Sales | 16,433 | 17,329 | |||
Owned MW Capacity (a) | |||||
| Summer | 7,493 | 7,493 | |||
| Winter | 7,871 | 7,871 | |||
| (a) | Statistics reflect Duke Energy Indiana's ownership share of jointly owned stations. |
| (b) | Generation by source is reported net of auxiliary power. |
| (c) | Purchased power includes renewable energy purchases. |
| (d) | Represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. |
22
REGULATED UTILITIES
Operating Statistics (Duke Energy Indiana)
(Unaudited)
| Six Months Ended June 30, | |||||||
| 2015 | 2014 | ||||||
| Revenues from Generation, Transmission and Distribution of Electricity (in millions) | |||||||
| Residential | $ | 532 | $ | 570 | |||
| General service | 369 | 390 | |||||
| Industrial | 373 | 401 | |||||
| Other energy and wholesale | 154 | 171 | |||||
| Change in unbilled | (15 | ) | (20 | ) | |||
| Total Revenues | $ | 1,413 | $ | 1,512 | |||
| Average Number of Customers (in thousands) | |||||||
| Residential | 698 | 693 | |||||
| General service | 101 | 100 | |||||
| Industrial | 3 | 3 | |||||
| Other energy and wholesale | 1 | 1 | |||||
| Total Average Number of Customers | 803 | 797 | |||||
23
DUKE ENERGY OHIO SUPPLEMENT
Consolidating Statements of Operations
(Unaudited)
| Six Months Ended June 30, 2015 | |||||||||||||||||||
| Regulated Utilities | Commercial Portfolio | Other | Duke Energy Ohio | ||||||||||||||||
| (in millions) | Ohio Transmission& Distribution | Duke Energy Kentucky | |||||||||||||||||
| Operating Revenues | |||||||||||||||||||
| Regulated electric | $ | 454 | $ | 184 | $ | — | $ | — | $ | 638 | |||||||||
| Nonregulated electric, natural gas and other | — | — | 14 | 9 | 23 | ||||||||||||||
| Regulated natural gas | 261 | 69 | — | — | 330 | ||||||||||||||
| Total operating revenues | 715 | 253 | 14 | 9 | 991 | ||||||||||||||
| Operating Expenses | |||||||||||||||||||
| Fuel used in electric generation and purchased power - regulated | 144 | 78 | — | — | 222 | ||||||||||||||
| Fuel used in electric generation and purchased power - nonregulated | — | — | 14 | 12 | 26 | ||||||||||||||
| Cost of natural gas | 77 | 32 | — | — | 109 | ||||||||||||||
| Operation, maintenance and other | 158 | 64 | 12 | 12 | 246 | ||||||||||||||
| Depreciation and amortization | 90 | 25 | — | — | 115 | ||||||||||||||
| Property and other taxes | 120 | 7 | 1 | (1 | ) | 127 | |||||||||||||
| Total operating expenses | 589 | 206 | 27 | 23 | 845 | ||||||||||||||
| Gain on Sales of Other Assets and Other, net | 7 | 1 | — | — | 8 | ||||||||||||||
| Operating Income (Loss) | 133 | 48 | (13 | ) | (14 | ) | 154 | ||||||||||||
| Other Income and Expenses | (2 | ) | — | — | — | (2 | ) | ||||||||||||
| Interest Expense | 31 | 7 | — | — | 38 | ||||||||||||||
| Income (Loss) Before Income Taxes | 100 | 41 | (13 | ) | (14 | ) | 114 | ||||||||||||
| Income Tax Expense (Benefit) | 37 | 15 | (4 | ) | (6 | ) | 42 | ||||||||||||
| Segment Income (Loss) / Net Expense | $ | 63 | $ | 26 | $ | (9 | ) | $ | (8 | ) | $ | 72 | |||||||
Income from Discontinued Operations, Net of Tax (a) | 25 | ||||||||||||||||||
| Net Income | $ | 97 | |||||||||||||||||
| (a) | Includes the after-tax impact of $53 million for the agreement in principle reached in a lawsuit related to the nonregulated Midwest generation business. |
24
DUKE ENERGY OHIO SUPPLEMENT
Consolidating Statements of Operations
(Unaudited)
Six Months Ended June 30, 2014(a) | ||||||||||||||||||
| Regulated Utilities | Commercial Portfolio | Other | Duke Energy Ohio | |||||||||||||||
| (in millions) | Ohio Transmission & Distribution | Duke Energy Kentucky | ||||||||||||||||
| Operating Revenues | ||||||||||||||||||
| Regulated electric | $ | 464 | $ | 183 | $ | — | $ | (1 | ) | $ | 646 | |||||||
| Nonregulated electric, natural gas and other | — | — | 11 | — | 11 | |||||||||||||
| Regulated natural gas | 252 | 78 | — | — | 330 | |||||||||||||
| Total operating revenues | 716 | 261 | 11 | (1 | ) | 987 | ||||||||||||
| Operating Expenses | ||||||||||||||||||
| Fuel used in electric generation and purchased power - regulated | 139 | 92 | — | — | 231 | |||||||||||||
| Fuel used in electric generation and purchased power - nonregulated | — | — | 19 | — | 19 | |||||||||||||
| Cost of natural gas | 81 | 40 | — | — | 121 | |||||||||||||
| Operation, maintenance and other | 135 | 67 | 33 | 9 | 244 | |||||||||||||
| Depreciation and amortization | 89 | 22 | 2 | — | 113 | |||||||||||||
| Property and other taxes | 103 | 6 | 2 | 1 | 112 | |||||||||||||
Impairment charges(b) | — | — | 94 | — | 94 | |||||||||||||
| Total operating expenses | 547 | 227 | 150 | 10 | 934 | |||||||||||||
| Gain on Sales of Other Assets and Other, net | 1 | — | — | (1 | ) | — | ||||||||||||
| Operating Income (Loss) | 170 | 34 | (139 | ) | (12 | ) | 53 | |||||||||||
| Other Income and Expenses | 4 | 1 | — | 1 | 6 | |||||||||||||
| Interest Expense | 33 | 8 | — | (1 | ) | 40 | ||||||||||||
| Income (Loss) before Income Taxes | 141 | 27 | (139 | ) | (10 | ) | 19 | |||||||||||
| Income Tax Expense (Benefit) | 51 | 9 | (51 | ) | (3 | ) | 6 | |||||||||||
| Segment Income (Loss) / Net Expense | $ | 90 | $ | 18 | $ | (88 | ) | $ | (7 | ) | $ | 13 | ||||||
| Loss from Discontinued Operations, Net of Tax | (1,010 | ) | ||||||||||||||||
| Net Loss | $ | (997 | ) | |||||||||||||||
| (a) | Reflects reclassifications due to the impact of discontinued operations. |
| (b) | The impairment charge for Commercial Portfolio is related to OVEC. |
25