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Employee Benefit Obligations | 3 Months Ended
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Mar. 31, 2013
Employee Benefit Plans [Abstract] |
Employee Benefit Obligations | 14. EMPLOYEE BENEFIT PLANS DEFINED BENEFIT RETIREMENT PLANS Duke Energy and its subsidiaries (including legacy Progress Energy and Cinergy businesses) maintain, and the Subsidiary Registrants participate in, qualified, non-contributory defined benefit retirement plans. Duke Energy also maintains, and the Subsidiary Registrants participate in, non-qualified, non-contributory defined benefit retirement plans, which cover certain executives. Net periodic benefit costs disclosed in the tables below for the qualified and other post-retirement benefit plans represent the cost of the respective benefit plan for the periods presented. However, portions of the net periodic benefit costs disclosed in the tables below have been capitalized as a component of property, plant and equipment. Amounts presented in the tables below for the Subsidiary Registrants represent the amounts of pension and other post-retirement benefit cost allocated by Duke Energy for employees of the Subsidiary Registrants. Additionally, the Subsidiary Registrants are allocated their proporti onate share of pension and post-retirement benefit cost for employees of Duke Energy's shared services affiliate that provide support to the Subsidiary Registrants. These allocated amounts are included in the governance and shared service costs discussed in Note 17.
QUALIFIED PENSION PLANS
The following tables include the components of net periodic pension costs for qualified pension plans.
|  | Three Months Ended March 31, 2013
(in millions) | Duke Energy |  | Duke Energy Carolinas |  | Progress Energy |  | Duke Energy Progress |  | Duke Energy Florida |  | Duke Energy Ohio |  | Duke Energy Indiana
Service cost | $ | 42 |  | $ | 12 |  | $ | 15 |  | $ | 5 |  | $ | 8 |  | $ | 2 |  | $ | 3
Interest cost on project benefit obligation |  | 80 |  |  | 20 |  |  | 29 |  |  | 13 |  |  | 13 |  |  | 5 |  |  | 7
Expected return on plan assets |  | (137) |  |  | (37) |  |  | (50) |  |  | (23) |  |  | (22) |  |  | (8) |  |  | (11)
Amortization of prior service credit |  | (3) |  |  | (2) |  |  | (1) |  |  | - |  |  | - |  |  | - |  |  | -
Amortization of actuarial loss |  | 61 |  |  | 15 |  |  | 25 |  |  | 11 |  |  | 12 |  |  | 3 |  |  | 6
Other |  | 2 |  |  | 1 |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | -
Net periodic pension costs(a)(b) | $ | 45 |  | $ | 9 |  | $ | 19 |  | $ | 6 |  | $ | 11 |  | $ | 2 |  | $ | 5
|  | Three Months Ended March 31, 2012
(in millions) | Duke Energy |  | Duke Energy Carolinas |  | Progress Energy |  | Duke Energy Progress |  | Duke Energy Florida |  | Duke Energy Ohio |  | Duke Energy Indiana
Service cost | $ | 23 |  | $ | 9 |  | $ | 15 |  | $ | 6 |  | $ | 7 |  | $ | 2 |  | $ | 2
Interest cost on project benefit obligation |  | 61 |  |  | 23 |  |  | 31 |  |  | 14 |  |  | 13 |  |  | 8 |  |  | 8
Expected return on plan assets |  | (94) |  |  | (36) |  |  | (46) |  |  | (24) |  |  | (20) |  |  | (11) |  |  | (12)
Amortization of prior service cost |  | 1 |  |  | - |  |  | 2 |  |  | 2 |  |  | - |  |  | - |  |  | 1
Amortization of actuarial loss |  | 24 |  |  | 11 |  |  | 22 |  |  | 9 |  |  | 11 |  |  | 2 |  |  | 3
Other |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Net periodic pension costs(a)(b) | $ | 16 |  | $ | 7 |  | $ | 24 |  | $ | 7 |  | $ | 11 |  | $ | 1 |  | $ | 2
(a) | Duke Energy amounts exclude $3 million for each of the three months ended March 31, 2013 and 2012, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy’s merger with Cinergy.
(b) | Duke Energy Ohio amounts exclude $2 million for each of the three months ended March 31, 2013 and 2012, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy’s merger with Cinergy.
NON-QUALIFIED PENSION PLANS |
The net periodic pension costs for non-qualified pension plans were not material for the three months ended March 31, 2013 and March 31, 2012. |
OTHER POST-RETIREMENT BENEFIT PLANS Duke Energy and most of its subsidiaries provide, and the Subsidiary Registrants participate in, some health care and life insurance benefits for retired employees on a contributory and non-contributory basis. Employees are eligible for these benefits if they have met age and service requirements at retirement, as defined in the plans. The health care benefits include medical coverage, dental coverage, and prescription drug coverage and are subject to certain limitations, such as deductibles and co-payments. The following tables include the components of net periodic other post-retirement benefit costs.
|  | Three Months Ended March 31, 2013
(in millions) | Duke Energy |  | Duke Energy Carolinas |  | Progress Energy |  | Duke Energy Progress |  | Duke Energy Florida |  | Duke Energy Ohio |  | Duke Energy Indiana
Service cost | $ | 7 |  | $ | 1 |  |  | 6 |  | $ | 3 |  | $ | 2 |  | $ | - |  | $ | -
Interest cost on accumulated post-retirement benefit obligation |  | 18 |  |  | 3 |  |  | 11 |  |  | 6 |  |  | 4 |  |  | - |  |  | 1
Expected return on plan assets |  | (3) |  |  | (3) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Amortization of prior service credit |  | (3) |  |  | (2) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Amortization of actuarial loss (gain) |  | 13 |  |  | 1 |  |  | 14 |  |  | 9 |  |  | 4 |  |  | - |  |  | (1)
Net periodic costs(a)(b) | $ | 32 |  | $ | - |  | $ | 31 |  | $ | 18 |  | $ | 10 |  | $ | - |  | $ | -
|  | Three Months Ended March 31, 2012
(in millions) | Duke Energy |  | Duke Energy Carolinas |  | Progress Energy |  | Duke Energy Progress |  | Duke Energy Florida |  | Duke Energy Ohio |  | Duke Energy Indiana
Service cost | $ | 2 |  | $ | 1 |  | $ | 3 |  | $ | 1 |  | $ | 1 |  | $ | - |  | $ | -
Interest cost on accumulated post-retirement benefit obligation |  | 8 |  |  | 4 |  |  | 10 |  |  | 5 |  |  | 4 |  |  | 1 |  |  | 2
Expected return on plan assets |  | (4) |  |  | (3) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Amortization of prior service credit |  | (2) |  |  | (1) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Amortization of net transition liability |  | 2 |  |  | 1 |  |  | 1 |  |  | - |  |  | 1 |  |  | - |  |  | -
Amortization of actuarial (gain) loss |  | (2) |  |  | 1 |  |  | 6 |  |  | 3 |  |  | 3 |  |  | (1) |  |  | -
Net periodic costs(a)(b) | $ | 4 |  | $ | 3 |  | $ | 20 |  | $ | 9 |  | $ | 9 |  | $ | - |  | $ | 2
(a) | Duke Energy amounts exclude $2 million for each of the three months ended March 31, 2013 and 2012, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy’s merger with Cinergy.
(b) | Duke Energy Ohio amounts exclude $1 million for each of the three months ended March 31, 2013 and 2012, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy’s merger with Cinergy.
EMPLOYEE SAVINGS PLANS Duke Energy and Progress Energy sponsor, and the Subsidiary Registrants participate in, employee savings plans that cover substantially all U.S. employees. Most employees participate in a matching contribution formula where Duke Energy provides a matching contribution generally equal to 100 percent of employee before-tax and Roth 401(k) contributions, and, as applicable, after-tax contributions, of up to 6 percent of eligible pay per pay period. Dividends on Duke Energy shares held by the savings plans are charged to retained earnings when declared and shares held in the plans are considered outstanding in the calculation of basic and diluted EPS. The following table includes pre-tax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
(in millions) | Duke Energy |  | Duke Energy Carolinas |  | Progress Energy |  | Duke Energy Progress |  | Duke Energy Florida |  | Duke Energy Ohio |  | Duke Energy Indiana
For the three months ended March 31, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2013 | $ | 41 |  | $ | 14 |  | $ | 12 |  | $ | 6 |  | $ | 4 |  | $ | 1 |  | $ | 2
| 2012 |  | 28 |  |  | 11 |  |  | 12 |  |  | 6 |  |  | 4 |  |  | 1 |  |  | 2

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