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Income Taxes And Other Taxes | 3 Months Ended
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Mar. 31, 2013
Income Taxes And Other Taxes [Abstract] |
Income Taxes And Other Taxes | 16. I NCOME T AXES AND OTHER TAXES INCOME TAXES Duke Energy and its subsidiaries file income tax returns in the U.S. with federal and various state governmental authorities, and in certain foreign jurisdictions. The taxable income of Duke Energy and its subsidiaries is reflected in Duke Energy's U.S. federal and state income tax returns. These subsidiaries have a tax sharing agreement with Duke Energy where the separate return method is used to allocate tax expenses and benefits to the subsidiaries whose investments or results of operations provide these tax expenses and benefits. The accounting for income taxes essentially represents the income taxes that each of these subsidiaries would incur if it were a separate company filing its own tax return as a C-Corporation. The effective tax rates for each of the Duke Energy Registrants are included in the following table.
|  |  | Three Months Ended March 31,
|  | 2013 |  | 2012 |
Duke Energy |  | 34.2 | % | 25.8 | %
Duke Energy Carolinas |  | 37.1 | % | 36.3 | %
Progress Energy |  | 39.6 | % | 35.1 | %
Duke Energy Progress |  | 38.1 | % | 32.0 | %
Duke Energy Florida |  | 39.1 | % | 36.6 | %
Duke Energy Ohio |  | 37.1 | % | 37.0 | %
Duke Energy Indiana |  | 37.5 | % | 41.0 | %
The increase in the effective tax rate for Duke Energy is primarily due to lower pre-tax income in 2012 due to the Edwardsport IGCC project impairment, Progress Energy results of operations included in 2013, impact of lower AFUDC equity in 2013, and a reduction of foreign deferred taxes in 2012 due to changes in foreign tax rates. The increase in the effective tax rate for Progress Energy is primarily due to the impact of lower AFUDC equity in 2013 and the ESOP dividend deduction being recorded at Duke Energy in 2013 as a result of the merger. The increase in the effective tax rate for Duke Energy Progress and Duke Energy Florida is primarily due to the favorable prior-year tax benefit related to the manufacturing deduction and the impact of lower AFUDC equity in 2013. EXCISE TAXES Certain excise taxes levied by state or local governments are collected by the Duke Energy Registrants from their customers. These taxes, which are r equired to be paid regardless of the Duke Energy Registrants' ability to collect from the customer, are accounted for on a gross basis. When the Duke Energy Registrants act as an agent, and the tax is not required to be remitted if it is not collected from the customer, the taxes are accounted for on a net basis. The Duke Energy Registrants' excise taxes accounted for on a gross basis and recorded as operating revenues in the Condensed Consolidated Statements of Operations were as follows:
|  |  | Three Months Ended March 31,
(in millions) |  |  | 2013 |  | 2012
Duke Energy |  | $ | 149 | $ | 77
Duke Energy Carolinas |  |  | 42 |  | 39
Progress Energy |  |  | 67 |  | 69
Duke Energy Progress |  |  | 28 |  | 26
Duke Energy Florida |  |  | 39 |  | 43
Duke Energy Ohio |  |  | 31 |  | 30
Duke Energy Indiana |  |  | 9 |  | 8

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -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 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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