|
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2014
|
Sep. 30, 2013
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (loss) |
$ 1,789 |
$ 1,984 |
| Net Income (Loss) Attributable to Parent |
1,786 |
1,977 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
2,641 |
2,365 |
| Equity component of AFUDC |
(99) |
(121) |
| Community support and charitable contributions expense |
|
34 |
| Gains (losses) on sales of other assets |
(27) |
8 |
| Impairment charges |
848 |
388 |
| Deferred income taxes |
562 |
1,014 |
| Equity in earnings of unconsolidated affiliates |
(97) |
(91) |
| Accrued pension and other post-retirement benefit costs |
81 |
259 |
| Contributions to qualified pension plans |
|
(27) |
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
128 |
(14) |
| Receivables |
(24) |
(154) |
| Inventory |
(17) |
119 |
| Other current assets |
(315) |
(48) |
| Increase (decrease) in |
|
|
| Accounts payable |
(303) |
(412) |
| Taxes accrued |
37 |
245 |
| Other current liabilities |
(99) |
(31) |
| Other assets |
(100) |
(307) |
| Other liabilities |
162 |
(221) |
| Net cash provided by operating activities |
5,167 |
4,990 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(3,755) |
(3,854) |
| Investment expenditures |
(65) |
(53) |
| Acquisitions |
(16) |
|
| Purchases of available-for-sale securities |
(2,424) |
(4,591) |
| Proceeds from sales and maturities of available-for-sale securities |
2,445 |
4,687 |
| Net proceeds from the sales of equity investments and other assets |
172 |
59 |
| Change in restricted cash |
(15) |
166 |
| Other |
(76) |
20 |
| Net cash used in investing activities |
(3,734) |
(3,566) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
2,217 |
2,993 |
| Proceeds from the issuance of common stock related to employee benefit plans |
24 |
8 |
| Payments for the redemption of long-term debt |
(2,503) |
(2,506) |
| Payments for the redemption of preferred stock |
|
(96) |
| Notes payable and commercial paper |
941 |
537 |
| Distributions to noncontrolling interests |
(45) |
(9) |
| Dividends paid |
(1,670) |
(1,636) |
| Other |
33 |
27 |
| Net cash used in financing activities |
(1,003) |
(682) |
| Net increase in cash and cash equivalents |
430 |
742 |
| Cash and cash equivalents at beginning of period |
1,501 |
1,424 |
| Cash and cash equivalents at end of period |
1,931 |
2,166 |
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
466 |
383 |
|
Duke Energy Carolinas [Member]
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net Income (Loss) Attributable to Parent |
933 |
767 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
952 |
865 |
| Equity component of AFUDC |
(68) |
(70) |
| Community support and charitable contributions expense |
|
14 |
| Impairment charges |
3 |
|
| Deferred income taxes |
47 |
487 |
| Accrued pension and other post-retirement benefit costs |
16 |
29 |
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
|
(7) |
| Receivables |
5 |
(24) |
| Receivables from affiliated companies |
(42) |
(37) |
| Inventory |
91 |
23 |
| Other current assets |
(130) |
35 |
| Increase (decrease) in |
|
|
| Accounts payable |
(167) |
(90) |
| Accounts payable to affiliated companies |
15 |
107 |
| Taxes accrued |
173 |
18 |
| Other current liabilities |
7 |
2 |
| Other assets |
23 |
(80) |
| Other liabilities |
21 |
(66) |
| Net cash provided by operating activities |
1,879 |
1,973 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(1,289) |
(1,205) |
| Purchases of available-for-sale securities |
(1,533) |
(1,883) |
| Proceeds from sales and maturities of available-for-sale securities |
1,516 |
1,847 |
| Notes receivable from affiliated companies |
(117) |
(213) |
| Other |
(27) |
(11) |
| Net cash used in investing activities |
(1,450) |
(1,465) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Payments for the redemption of long-term debt |
(42) |
|
| Dividends or distributions to parent |
(376) |
(500) |
| Other |
|
(2) |
| Net cash used in financing activities |
(418) |
(502) |
| Net increase in cash and cash equivalents |
11 |
6 |
| Cash and cash equivalents at beginning of period |
23 |
19 |
| Cash and cash equivalents at end of period |
34 |
25 |
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
177 |
111 |
|
Progress Energy [Member]
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (loss) |
735 |
479 |
| Net Income (Loss) Attributable to Parent |
733 |
477 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
985 |
764 |
| Equity component of AFUDC |
(18) |
(39) |
| Community support and charitable contributions expense |
|
20 |
| Gains (losses) on sales of other assets |
1 |
3 |
| Impairment charges |
(16) |
368 |
| Deferred income taxes |
231 |
384 |
| Accrued pension and other post-retirement benefit costs |
20 |
158 |
| Contributions to qualified pension plans |
|
(27) |
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
28 |
33 |
| Receivables |
(162) |
(219) |
| Receivables from affiliated companies |
(32) |
12 |
| Inventory |
(45) |
79 |
| Other current assets |
(147) |
(102) |
| Increase (decrease) in |
|
|
| Accounts payable |
(73) |
(227) |
| Accounts payable to affiliated companies |
142 |
25 |
| Taxes accrued |
166 |
161 |
| Other current liabilities |
(96) |
113 |
| Other assets |
(126) |
(223) |
| Other liabilities |
(9) |
(64) |
| Net cash provided by operating activities |
1,584 |
1,698 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(1,383) |
(1,739) |
| Purchases of available-for-sale securities |
(609) |
(1,651) |
| Proceeds from sales and maturities of available-for-sale securities |
594 |
1,630 |
| Net proceeds from the sales of equity investments and other assets |
2 |
|
| Notes receivable from affiliated companies |
(89) |
(103) |
| Other |
(39) |
12 |
| Net cash used in investing activities |
(1,524) |
(1,851) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
875 |
545 |
| Payments for the redemption of long-term debt |
(479) |
(1,194) |
| Payments for the redemption of preferred stock |
|
(96) |
| Notes payable to affiliated companies |
(391) |
740 |
| Distributions to noncontrolling interests |
(37) |
(2) |
| Other |
(39) |
(5) |
| Net cash used in financing activities |
(71) |
(12) |
| Net increase in cash and cash equivalents |
(11) |
(165) |
| Cash and cash equivalents at beginning of period |
58 |
231 |
| Cash and cash equivalents at end of period |
47 |
66 |
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
159 |
199 |
|
Duke Energy Progress [Member]
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net Income (Loss) Attributable to Parent |
391 |
362 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
570 |
507 |
| Equity component of AFUDC |
(17) |
(33) |
| Community support and charitable contributions expense |
|
20 |
| Gains (losses) on sales of other assets |
(1) |
(1) |
| Impairment charges |
(18) |
22 |
| Deferred income taxes |
152 |
272 |
| Accrued pension and other post-retirement benefit costs |
(5) |
74 |
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
9 |
(11) |
| Receivables |
33 |
(75) |
| Receivables from affiliated companies |
(7) |
4 |
| Inventory |
(53) |
32 |
| Other current assets |
(97) |
(41) |
| Increase (decrease) in |
|
|
| Accounts payable |
(67) |
(168) |
| Accounts payable to affiliated companies |
102 |
|
| Taxes accrued |
95 |
63 |
| Other current liabilities |
(46) |
(75) |
| Other assets |
(28) |
(87) |
| Other liabilities |
(23) |
(77) |
| Net cash provided by operating activities |
990 |
788 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(871) |
(998) |
| Purchases of available-for-sale securities |
(371) |
(460) |
| Proceeds from sales and maturities of available-for-sale securities |
351 |
438 |
| Other |
(25) |
3 |
| Net cash used in investing activities |
(916) |
(1,017) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
650 |
545 |
| Payments for the redemption of long-term debt |
(169) |
(451) |
| Payments for the redemption of preferred stock |
|
(62) |
| Notes payable to affiliated companies |
(340) |
217 |
| Dividends or distributions to parent |
(224) |
|
| Other |
(6) |
(6) |
| Net cash used in financing activities |
(89) |
243 |
| Net increase in cash and cash equivalents |
(15) |
14 |
| Cash and cash equivalents at beginning of period |
21 |
18 |
| Cash and cash equivalents at end of period |
6 |
32 |
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
107 |
122 |
|
Duke Energy Florida [Member]
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net Income (Loss) Attributable to Parent |
455 |
250 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
413 |
240 |
| Equity component of AFUDC |
(1) |
(6) |
| Gains (losses) on sales of other assets |
|
(1) |
| Impairment charges |
2 |
346 |
| Deferred income taxes |
194 |
229 |
| Accrued pension and other post-retirement benefit costs |
22 |
66 |
| Contributions to qualified pension plans |
|
(27) |
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
13 |
37 |
| Receivables |
(118) |
(127) |
| Receivables from affiliated companies |
(37) |
19 |
| Inventory |
7 |
46 |
| Other current assets |
(90) |
(132) |
| Increase (decrease) in |
|
|
| Accounts payable |
32 |
30 |
| Accounts payable to affiliated companies |
29 |
(19) |
| Taxes accrued |
68 |
152 |
| Other current liabilities |
(50) |
203 |
| Other assets |
(92) |
(128) |
| Other liabilities |
(53) |
(44) |
| Net cash provided by operating activities |
794 |
1,134 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(513) |
(734) |
| Purchases of available-for-sale securities |
(238) |
(1,191) |
| Proceeds from sales and maturities of available-for-sale securities |
243 |
1,192 |
| Notes receivable from affiliated companies |
(182) |
177 |
| Other |
(14) |
|
| Net cash used in investing activities |
(704) |
(556) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
225 |
|
| Payments for the redemption of long-term debt |
(10) |
(435) |
| Payments for the redemption of preferred stock |
|
(34) |
| Notes payable to affiliated companies |
(181) |
|
| Dividends or distributions to parent |
(124) |
(225) |
| Other |
(1) |
|
| Net cash used in financing activities |
(91) |
(694) |
| Net increase in cash and cash equivalents |
(1) |
(116) |
| Cash and cash equivalents at beginning of period |
16 |
131 |
| Cash and cash equivalents at end of period |
15 |
15 |
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
52 |
76 |
|
Duke Energy Ohio [Member]
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net Income (Loss) Attributable to Parent |
(558) |
96 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
205 |
268 |
| Equity component of AFUDC |
(3) |
|
| Gains (losses) on sales of other assets |
|
(5) |
| Impairment charges |
889 |
|
| Deferred income taxes |
(285) |
76 |
| Accrued pension and other post-retirement benefit costs |
6 |
12 |
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
124 |
|
| Receivables |
(66) |
(6) |
| Receivables from affiliated companies |
62 |
1 |
| Inventory |
(16) |
29 |
| Other current assets |
56 |
(8) |
| Increase (decrease) in |
|
|
| Accounts payable |
(42) |
(56) |
| Accounts payable to affiliated companies |
(6) |
4 |
| Taxes accrued |
13 |
(29) |
| Other current liabilities |
46 |
10 |
| Other assets |
(8) |
3 |
| Other liabilities |
(20) |
(63) |
| Net cash provided by operating activities |
397 |
332 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(242) |
(318) |
| Net proceeds from the sales of equity investments and other assets |
|
11 |
| Notes receivable from affiliated companies |
(178) |
(45) |
| Other |
|
1 |
| Net cash used in investing activities |
(420) |
(351) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
|
450 |
| Payments for the redemption of long-term debt |
(406) |
(257) |
| Notes payable to affiliated companies |
520 |
(176) |
| Dividends or distributions to parent |
(100) |
|
| Other |
1 |
(2) |
| Net cash used in financing activities |
15 |
15 |
| Net increase in cash and cash equivalents |
(8) |
(4) |
| Cash and cash equivalents at beginning of period |
36 |
31 |
| Cash and cash equivalents at end of period |
28 |
27 |
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
21 |
20 |
|
Duke Energy Indiana [Member]
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net Income (Loss) Attributable to Parent |
301 |
276 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion (including amortization of nuclear fuel) |
311 |
230 |
| Equity component of AFUDC |
(10) |
(11) |
| Deferred income taxes |
136 |
190 |
| Accrued pension and other post-retirement benefit costs |
12 |
19 |
| (Increase) decrease in |
|
|
| Net realized and unrealized mark-to-market and hedging transactions |
|
(31) |
| Receivables |
(20) |
15 |
| Receivables from affiliated companies |
72 |
(19) |
| Inventory |
(30) |
(33) |
| Other current assets |
40 |
27 |
| Increase (decrease) in |
|
|
| Accounts payable |
(44) |
(22) |
| Accounts payable to affiliated companies |
4 |
(7) |
| Taxes accrued |
(36) |
16 |
| Other current liabilities |
3 |
(9) |
| Other assets |
(15) |
2 |
| Other liabilities |
44 |
(78) |
| Net cash provided by operating activities |
768 |
565 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(462) |
(387) |
| Purchases of available-for-sale securities |
(17) |
(7) |
| Proceeds from sales and maturities of available-for-sale securities |
13 |
6 |
| Notes receivable from affiliated companies |
96 |
(69) |
| Other |
4 |
(4) |
| Net cash used in investing activities |
(366) |
(461) |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from the issuance of long-term debt |
|
498 |
| Payments for the redemption of long-term debt |
(2) |
(403) |
| Notes payable to affiliated companies |
61 |
(81) |
| Dividends or distributions to parent |
(451) |
(125) |
| Other |
(1) |
(4) |
| Net cash used in financing activities |
(393) |
(115) |
| Net increase in cash and cash equivalents |
9 |
(11) |
| Cash and cash equivalents at beginning of period |
15 |
36 |
| Cash and cash equivalents at end of period |
24 |
25 |
| Significant non-cash transactions: |
|
|
| Accrued capital expenditures |
$ 64 |
$ 36 |