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Business Segments | 3 Months Ended
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Mar. 31, 2013
Business Segments [Abstract] |
Business Segments | 3. BUSINESS SEGMENTS M anagement evaluat es segment performance based on Segment Income, which is defined as income from continuing operations net of income attributable to noncontrolling interests. Segment Income, as discussed below, includes intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. C ertain governance costs are allocated to each of the segments. In addition, direct interest expense and income taxes are included in S egment I ncome. Operating segments for each of the Duke Energy Registrants are determined based on information used by the chief operating decision maker in deciding how to allocate resources and evaluate the performance at each of the Duke Energy Registrants. Products and services are sold between the affiliate companies and between the reportable segments of Duke Energy at cost. Segment assets as presented in the tables that follow exclude all intercompany assets. DUKE ENERGY Duke Energy has the following reportable operating segments: USFE&G, Commercial Power and International Energy. USFE&G generates, transmits, distributes and sells electricity in North Carolina, South Carolina, west central Florida, central, north central and southern Indiana, and northern Kentucky. USFE&G also transmits and distributes electricity in southwestern Ohio. Additionally, USFE&G transports and sells natural gas in southwestern Ohio and northern Kentucky. It conducts operations primarily through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, certain regulated portions of Duke Energy Ohio, and Duke Energy Indiana. Segment information for USFE&G includes the results of the regulated operations of Progress Energy from July 2, 2012 forward. Commercial Power owns, operates and manages power plants and engages in the wholesale marketing and procurement of electric power, fuel and emission allowances related to these plants, as well as other contractual positions. Commercial Power also has a retail sales subsidiary, Duke Energy Retail Sales, LLC (Duke Energy Retail), which is certified by the PUCO as a Competitive Retail Electric Service provider in Ohio. Through Duke Energy Generation Services, Inc. and its affiliates (DEGS), Commercial Power engages in the development, construction and operation of renewable energy projects. In addition, DEGS owns and develops commercial transmission projects. International Energy principally operates and manages power generation facilities and engages in sales and marketing of electric power and natural gas outside the U.S. It conducts operations primarily through Duke Energy International, LLC and its affiliates and its activities principally target power generation in Latin America. Additionally, International Energy owns a 25 percent interest in National Methanol Company, located in Saudi Arabia, which is a large regional producer of methanol and methyl tertiary butyl ether (MTBE). The remainder of Duke Energy's operations is presented as Other. While it is not considered an operating segment, Other primarily includes unallocated corporate costs, which include costs not allocable to Duke Energy's reportable business segments, primarily interest expense on corporate debt instruments, costs to achieve mergers and divestitures, and costs associated with certain corporate severance programs. It also includes Bison Insurance Company Limited (Bison), Duke Energy's wholly owned, captive insurance subsidiary, Duke Energy's 50 percent interest in DukeNet and related telecommunications businesses, and Duke Energy's 60 percent interest in Duke Energy Trading and Marketing, LLC.
|  | Three Months Ended March 31, 2013
(in millions) | USFE&G |  | Commercial Power |  | International Energy |  | Total Reportable Segments |  | Other |  | Eliminations |  | Consolidated
Unaffiliated revenues | $ | 5,052 |  | $ | 439 |  | $ | 392 |  | $ | 5,883 |  | $ | 15 |  | $ | ― |  | $ | 5,898
Intersegment revenues |  | 8 |  |  | 13 |  |  | ― |  |  | 21 |  |  | 20 |  |  | (41) |  |  | ―
| Total revenues | $ | 5,060 |  | $ | 452 |  | $ | 392 |  | $ | 5,904 |  | $ | 35 |  | $ | (41) |  | $ | 5,898
Segment income / Consolidated net income (a) | $ | 656 |  | $ | (42) |  | $ | 97 |  | $ | 711 |  | $ | (77) |  | $ | ― |  | $ | 634
Segment assets |  | 98,419 |  |  | 6,937 |  |  | 5,521 |  |  | 110,877 |  |  | 2,696 |  |  | 93 |  |  | 113,666
(a) | Other includes after-tax costs to achieve the merger with Progress Energy of $34 million, net of tax of $21 million. See Note 2 for additional information.
|  | Three Months Ended March 31, 2012
(in millions) | USFE&G |  | Commercial Power |  | International Energy |  | Total Reportable Segments |  | Other |  | Eliminations |  | Consolidated
Unaffiliated revenues(a) | $ | 2,660 |  | $ | 564 |  | $ | 402 |  | $ | 3,626 |  | $ | 4 |  | $ | ― |  | $ | 3,630
Intersegment revenues |  | 8 |  |  | 16 |  |  | ― |  |  | 24 |  |  | 11 |  |  | (35) |  |  | ―
| Total revenues | $ | 2,668 |  | $ | 580 |  | $ | 402 |  | $ | 3,650 |  | $ | 15 |  | $ | (35) |  | $ | 3,630
Segment income(a)(b) | $ | 136 |  | $ | 31 |  | $ | 142 |  | $ | 309 |  | $ | (16) |  | $ | ― |  | $ | 293
Add back noncontrolling interest component |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4
Income from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2
Consolidated net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 299
(a) | On January 25, 2012 and January 27, 2012, the Duke Energy Carolinas' South Carolina and North Carolina rate case settlement agreements were approved by the PSCSC and NCUC, respectively. Among other things, the rate case settlements included an annual base rate increase of $309 million in North Carolina and a $93 million annual base rate increase in South Carolina, both beginning in February 2012. The impact of these rates impacts USFE&G.
(b) | USFE&G recorded an after-tax impairment charge of $268 million, net of tax of $152 million, related to Duke Energy Indiana's Edwardsport Integrated Gasification Combined Cycle (IGCC) project. USFE&G also recorded the reversal of expenses of $60 million, net of tax of $39 million, related to a prior year Voluntary Opportunity Plan in accordance with Duke Energy Carolinas' 2011 rate case.
PROGRESS ENERGY Progress Energy's sole reportable segment is Franchised Electric, which is primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina, South Carolina and Florida. These electric operations also distribute and sell electricity to other utilities, primarily on the east coast of the United States. The remainder of Progress Energy's operations is presented as Other. While it is not considered an operating segment, Other primarily includes the Progress Energy holding company and P rogress E nergy S ervice C ompany, LLC and other miscellaneous nonregulated businesses, as well as costs to achieve the merger with Duke Energy and certain governance costs allocated by its parent, Duke Energy. See Note 17 for additional information.
|  | Three Months Ended March 31, 2013
(in millions) | Franchised Electric |  | Total Reportable Segment |  | Other |  | Eliminations |  | Consolidated
Unaffiliated revenues | $ | 2,169 |  | $ | 2,169 |  | $ | 9 |  | $ | ― |  | $ | 2,178
Affiliated revenues |  | 9 |  |  | 9 |  |  | ― |  |  | (1) |  |  | 8
| Total revenues | $ | 2,178 |  | $ | 2,178 |  | $ | 9 |  | $ | (1) |  | $ | 2,186
Segment income(a) | $ | 232 |  | $ | 232 |  | $ | (79) |  | $ | ― |  | $ | 153
Add back noncontrolling interest component |  |  |  |  |  |  |  |  |  |  |  |  |  | 1
Consolidated net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 154
Segment assets |  | 36,786 |  |  | 36,786 |  |  | 520 |  |  | (21) |  |  | 37,285
(a) | Other includes after-tax costs to achieve the merger with Duke Energy of $12 million, net of tax of $8 million. See Note 2 for additional information.
|  | Three Months Ended March 31, 2012
(in millions) | Franchised Electric |  | Total Reportable Segment |  | Other |  | Eliminations |  | Consolidated
Unaffiliated revenues | $ | 2,099 |  | $ | 2,099 |  | $ | 3 |  | $ | ― |  | $ | 2,102
Affiliated revenues |  | 1 |  |  | 1 |  |  | ― |  |  | (1) |  |  | ―
| Total revenues | $ | 2,100 |  | $ | 2,100 |  | $ | 3 |  | $ | (1) |  | $ | 2,102
Segment income(a) | $ | 178 |  | $ | 178 |  | $ | (39) |  | $ | ― |  | $ | 139
Add back noncontrolling interest component |  |  |  |  |  |  |  |  |  |  |  |  |  | 2
Income from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  | 11
Consolidated net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 152
(a) | Other includes after-tax costs to achieve the merger with Duke Energy of $4 million, net of tax of $3 million. See Note 2 for additional information.
DUKE ENERGY OHIO Duke Energy Ohio has two reportable operating segments, Franchised Electric and Gas and Commercial Power. Franchised Electric and Gas transmits and distributes electricity in southwestern Ohio and generates, transmits, distributes and sells electricity in northern Kentucky. Franchised Electric and Gas also transports and sells natural gas in southwestern Ohio and northern Kentucky. It conducts operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky. Commercial Power owns, operates and manages power plants and engages in the wholesale marketing and procurement of electric power, fuel and emission allowances related to these plants, as well as other contractual positions. Duke Energy Ohio's Commercial Power reportable operating segment does not include the operations of DEGS or Duke Energy Retail, which are included in the Commercial Power reportable operating segment at Duke Energy. The remainder of Duke Energy Ohio's operations is presented as Other. While it is not considered an operating segment, Other primarily includes certain governance costs allocated by its parent, Duke Energy. S ee Note 17 for additional information. All of Duke Energy Ohio's revenues are generated domestically and its long-lived assets are all in the U.S.
|  | Three Months Ended March 31, 2013
(in millions) | Franchised Electric and Gas | Commercial Power | Total Reportable Segments | Other | Eliminations | Consolidated
Unaffiliated revenues | $ | 492 | $ | 255 | $ | 747 | $ | ― | $ | ― | $ | 747
Intersegment revenues |  | ― |  | 11 |  | 11 |  | ― |  | (11) |  | ―
| Total revenues | $ | 492 | $ | 266 | $ | 758 | $ | ― | $ | (11) | $ | 747
Segment income / Consolidated net income | $ | 53 | $ | (67) | $ | (14) | $ | (7) | $ | ― | $ | (21)
Segment assets |  | 6,514 |  | 4,120 |  | 10,634 |  | 109 |  | (160) |  | 10,583
|  | Three Months Ended March 31, 2012
(in millions) | Franchised Electric and Gas | Commercial Power | Total Reportable Segments | Other | Eliminations | Consolidated
Unaffiliated revenues | $ | 473 | $ | 439 | $ | 912 | $ | ― | $ | ― | $ | 912
Intersegment revenues |  | ― |  | 15 |  | 15 |  | ― |  | (15) |  | ―
| Total revenues | $ | 473 | $ | 454 | $ | 927 | $ | ― | $ | (15) | $ | 912
Segment income / Consolidated net income | $ | 34 | $ | 44 | $ | 78 | $ | (4) | $ | ― | $ | 74
DUKE ENERGY CAROLINAS, DUKE ENERGY PROGRESS, DUKE ENERGY FLORIDA AND DUKE ENERGY INDIANA Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florid a and Duke Energy Indiana each have one reportable operating segment, Franchised Electric, which generates, transmits, d istributes and sells electricity. The remainder of each company's operations is classified as Other. While not considered reportable segments for any of these companies, Other consists of each respective compan y's share of costs to achieve the merger between Duke Energy and Progress Energy, certain corporate severance programs, and certain costs for use of corporate assets as allocated to each company. See Note 17 for additional information. The following table summarizes the net loss for Other at each of these entities.
|  | Three Months Ended March 31,
(in millions) | 2013 |  | 2012
Duke Energy Carolinas | $ | (19) |  | $ | (8)
Duke Energy Progress |  | (7) |  |  | (3)
Duke Energy Florida |  | (5) |  |  | (1)
Duke Energy Indiana |  | (4) |  |  | (4)
The Franchised Electric operating segments includes substantially all of Duke Energy Carolinas', Duke Energy Progress', Duke Energy Florida's and Duke Energy Indiana's assets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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