Duke-Energy 2005_Stat

CONTENTS

2 CONSOLIDATED DATA 28 FIELD SERVICES

2 Financial Highlights 29 Segment Earnings Before Interest and Taxes

3 Earnings Before Interest and Taxes by 30 Segment Balance Sheets
Business Segment
32 Operating Statistics
4 Consolidating Statement of Operations
33 DUKE ENERGY NORTH AMERICA
5 Consolidated Statements of Operations

34 Segment Earnings Before Interest and Taxes
6 Consolidating Balance Sheet

35 Balance Sheet
8 Consolidated Balance Sheets

10 Consolidated Statement of Cash Flows

12 Capital and Investment Expenditures 38 INTERNATIONAL ENERGY

13 Long-Term Debt
16 Capitalization
40 Segment Balance Sheets

17 FRANCHISED ELECTRIC

18 Segment Earnings Before Interest and Taxes 43 CRESCENT RESOURCES


23 NATURAL GAS TRANSMISSION




1
Contents

Duke Energy Corporation
FINANCIAL HIGHLIGHTS
Years ended December 31
2005 2004 2003 2002 2001
(In millions, except per share amounts)

COMMON STOCK DATA a
Earnings per share (from continuing operations)
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.69 $ 1.33 $ 0.06 $ 1.35 $ 1.58
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.61 $ 1.29 $ 0.06 $ 1.35 $ 1.57
(Loss) earnings per share (from discontinued operations)
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.75) $ 0.26 $ (1.36) $ (0.13) $ 1.00
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.73) $ 0.25 $ (1.36) $ (0.13) $ 0.99
Earnings (loss) per share (before cumulative effect of change
in accounting principle)
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.94 $ 1.59 $ (1.30) $ 1.22 $ 2.58
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.88 $ 1.54 $ (1.30) $ 1.22 $ 2.56
Earnings (loss) per share
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.94 $ 1.59 $ (1.48) $ 1.22 $ 2.45
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.88 $ 1.54 $ (1.48) $ 1.22 $ 2.44

Shares outstanding at year end . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 928 957 911 895 777
Weighted average shares outstanding - basic . . . . . . . . . . . . . . . . . . . . 934 931 903 836 767
Weighted average shares outstanding - diluted . . . . . . . . . . . . . . . . . . . 970 966 904 838 773

Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,105 $1,065 $1,051 $ 938 $ 871
Dividends paid (per share) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.17 $ 1.10 $ 1.10 $ 1.10 $ 1.10
Book value (per share) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $17.72 $17.18 $15.09 $16.70 $16.33

HISTORICAL REFERENCE a
Market price (per share)
High . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $30.55 $26.16 $21.57 $40.00 $47.74
Low . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $24.37 $18.85 $12.21 $16.42 $32.22
Close . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $27.45 $25.33 $20.45 $19.54 $39.26

a Data reflects the intra-day high and low stock price.

2
Consolidated Data

EARNINGS BEFORE INTEREST AND TAXES FROM
CONTINUING OPERATIONS BY BUSINESS SEGMENT Consolidated
Earnings (Loss)
Interest Expense, from Continuing
Franchised Natural Gas Field Duke Energy International Minority Interest Operations before
Servicesa North America b Expense & Other b
Electric Transmission Energy Crescent Income Taxes
(In millions)

2005 QUARTERS ENDED
March 31 . . . . . . . . . . . . . . . $ 336 $ 411 $ 918 $ — $ 68 $ 52 $ (474) $ 1,311
June 30 . . . . . . . . . . . . . . . . 274 304 165 — 86 38 (382) 485
Sept 30 . . . . . . . . . . . . . . . . 606 329 701 — 63 120 (408) 1,411
Dec 31 . . . . . . . . . . . . . . . . 279 344 162 — 97 104 (377) 609
Total . . . . . . . . . . . . . . . . . . $1,495 $1,388 $1,946 $ — $314 $314 $(1,641) $ 3,816

2004 QUARTERS ENDED
March 31 . . . . . . . . . . . . . . . $424 $ 402 $ 88 $ (430 ) $ 29 $ 60 $ (335) $238
June 30 . . . . . . . . . . . . . . . . 338 315 92 (57 ) 68 87 (295) 548
Sept 30 . . . . . . . . . . . . . . . . 453 269 63 (27 ) 64 43 (337) 528
Dec 31 . . . . . . . . . . . . . . . . . 252 343 124 (71 ) 61 50 (288) 471
Total . . . . . . . . . . . . . . . . . . $1,467 $1,329 $ 367 $ (585 ) $222 $240 $(1,255) $ 1,785

2003 QUARTERS ENDED
March 31 . . . . . . . . . . . . . . . $454 $ 426 $ 28 $(16 ) $40 $ 1 $ (367) $566
June 30 . . . . . . . . . . . . . . . . 316 309 52 154 91 21 (392) 551
Sept 30 . . . . . . . . . . . . . . . . 436 284 49 (456 ) 44 40 (452) (55)
Dec 31 . . . . . . . . . . . . . . . . . 197 314 47 (1,358 ) 40 72 (397) $(1,085)
Total . . . . . . . . . . . . . . . . . . $1,403 $1,333 $ 176 $(1,676 ) $215 $134 $(1,608) $ (23)

a In July 2005, Duke Energy completed the previously announced agreement with ConocoPhillips to reduce Duke Energy’s ownership interest in DEFS from 69.7% to 50%. Field Services segment data
includes DEFS as a consolidated entity for periods prior to July 1, 2005 and an equity method investment for periods after June 30, 2005.
b Other includes DENA’s continuing operations for 2005. DENA segment data includes continuing operations for DENA prior to 2005.

3
Consolidated Data

CONSOLIDATING STATEMENT OF OPERATIONS
Year Ended
Franchised Natural Gas Field International Eliminations/ December 31,
Services a
(In millions) Electric Transmission Energy Crescent Other Adjustments 2005

OPERATING REVENUES
Non-regulated electric, natural gas, natural gas liquids, and other. . . . . . . . . . . . . . . . . . . $ — $ — $5,530 $745 $495 $ 700 $ 191 $ 7,661
Regulated electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,432 — — — — — (26 ) 5,406
Regulated natural gas and natural gas liquids . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 4,055 — — — — (376 ) 3,679
Total operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,432 4,055 5,530 745 495 700 (211 ) 16,746
OPERATING EXPENSES
Natural gas and petroleum products purchased. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1,238 4,641 9 — 466 (75 ) 6,279
Operation, maintenance and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,442 822 278 181 376 556 (102 ) 3,553
Fuel used in electric generation and purchased power . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,249 — — 257 — 104 (26 ) 1,584
Depreciation and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 962 458 143 64 1 100 — 1,728
Property and other taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 306 197 28 25 7 9 (1 ) 571
Impairment and other charges. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 125 — 15 — — 140
Total operating expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,959 2,715 5,215 536 399 1,235 (204 ) 13,855
GAINS ON SALES OF INVESTMENTS IN COMMERCIAL AND
MULTI-FAMILY REAL ESTATE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 191 — — 191
GAINS (LOSSES) ON SALES OF OTHER ASSETS, NET . . . . . . . . . . . . . . . . . . . . . . . . . . 7 13 577 — — (62 ) (1 ) 534
OPERATING INCOME (LOSS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,480 1,353 892 209 287 (597 ) (8 ) 3,616
OTHER INCOME AND EXPENSES
Equity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 47 292 114 (1 ) 11 16 479
Gains (losses) on sales and impairments of equity investments . . . . . . . . . . . . . . . . . . . . . — 3 1,258 (20 ) — — (16 ) 1,225
Other income and expenses, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 15 1 23 45 (56 ) 53 96
Total other income and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 65 1,551 117 44 (45 ) 53 1,800
MINORITY INTEREST EXPENSE b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 30 497 12 17 3
EARNINGS BEFORE INTEREST AND TAXES FROM
CONTINUING OPERATIONS (EBIT). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,495 $1,388 $1,946 $314 $314 $(645 )
INTEREST EXPENSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,062
MINORITY INTEREST EXPENSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 538
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES . . . . . . . . . . . . 3,816
INCOME TAX EXPENSE FROM CONTINUING OPERATIONS . . . . . . . . . . . . . . . . . . . . . . 1,283
INCOME FROM CONTINUING OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,533
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX . . . . . . . . . . . . . . . . . . . . . . . (705 )
INCOME BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING POLICY. . . . . . . 1,828
CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE,
NET OF TAX AND MINORITY INTEREST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4 )
NET INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,824
DIVIDENDS AND PREMIUMS ON REDEMPTION OF PREFERRED
AND PREFERENCE STOCK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
EARNINGS AVAILABLE FOR COMMON STOCKHOLDERS . . . . . . . . . . . . . . . . . . . . . . . . $ 1,812

a In July 2005, Duke Energy completed the previously announced agreement with ConocoPhillips to reduce Duke Energy’s ownership interest in DEFS from 69.7% to 50%. Field Services segment data
includes DEFS as a consolidated entity for periods prior to July 1, 2005 and an equity method investment for periods after June 30, 2005.
b Includes minority interest expense related to EBIT and excludes minority interest expense related to interest and taxes.

4
Consolidated Data

CONSOLIDATED STATEMENTS OF OPERATIONS
2005 2004 2003 2002
(In millions)

OPERATING REVENUES
Non-regulated electric, natural gas, natural gas liquids, and other . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,661 $12,232 $10,088 $ 7,700
Regulated electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,406 5,041 4,851 4,799
Regulated natural gas and natural gas liquids . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,679 3,276 3,082 2,253
Total operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,746 20,549 18,021 14,752
OPERATING EXPENSES
Natural gas and petroleum products purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,279 10,156 8,479 5,383
Operation, maintenance and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,553 3,317 3,496 3,179
Fuel used in electric generation and purchased power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,584 1,576 1,465 1,612
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,728 1,750 1,675 1,397
Property and other taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 571 513 499 509
Impairment and other charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140 64 1,219 313
Impairments of goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 254 —
Total operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,855 17,376 17,087 12,393
GAINS ON SALES OF INVESTMENTS IN COMMERCIAL AND MULTI-FAMILY REAL ESTATE . . . . . . . . 191 192 84 106
GAINS (LOSSES) ON SALES OF OTHER ASSETS, NET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 534 (404 ) (199 ) 32
OPERATING INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,616 2,961 819 2,497
OTHER INCOME AND EXPENSES
Equity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 479 161 123 232
Gains (losses) on sales and impairments of equity investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,225 (4 ) 279 32
Other income and expenses, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 148 148 105
Total other income and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 305 550 369
INTEREST EXPENSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,062 1,281 1,330 1,116
MINORITY INTEREST EXPENSE a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 538 200 62 91
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES . . . . . . . . . . . . . . . . 3,816 1,785 (23 ) 1,659
INCOME TAX EXPENSE (BENEFIT) FROM CONTINUING OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . 1,283 533 (94 ) 514
INCOME FROM CONTINUING OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,533 1,252 71 1,145
DISCONTINUED OPERATIONS
(LOSS) INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX . . . . . . . . . . . . . . . . . . . . . . . . (705 ) 238 (1,232 ) (111 )
INCOME (LOSS) BEFORE CUMULATIVE EFFECT OF CHANGE IN
ACCOUNTING PRINCIPLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,828 1,490 (1,161 ) 1,034
CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE, NET OF TAX
AND MINORITY INTEREST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4 ) — (162 ) —
NET INCOME (LOSS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,824 1,490 (1,323 ) 1,034
DIVIDENDS AND PREMIUMS ON REDEMPTION OF PREFERRED AND PREFERENCE STOCK . . . . . . 12 9 15 13
EARNINGS (LOSS) AVAILABLE FOR COMMON STOCKHOLDERS . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,812 $ 1,481 $ (1,338 ) $ 1,021

a Minority Interest Expense includes dividends of $55 million in 2003 and $108 million in 2002 related to trust preferred securities.

5
Consolidated Data

CONSOLIDATING BALANCE SHEET - ASSETS
Franchised Natural Gas Field Duke Energy International Eliminations/ December 31,
Electric Transmission Services North America Energy Crescent Other Adjustments 2005
(In millions)

CURRENT ASSETS
Cash and cash equivalents . . . . . . . . . . . . . . . $ 15 $ 68 $ — $ 15 $ 165 $ 76 $ 142 $ 30 $ 511
Short-term investments . . . . . . . . . . . . . . . . . . 111 — — — — — 521 — 632
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . 218 683 142 1,043 1,089 144 1,086 (1,825 ) 2,580
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . 419 381 — — 37 — 26 — 863
Assets held for sale . . . . . . . . . . . . . . . . . . . . . — — — 1,528 — — — — 1,528
Unrealized gains on mark-to-market and
hedging transactions . . . . . . . . . . . . . . . . . . . — 16 — — — — 71 — 87
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93 55 (8 ) 1,274 41 — 140 161 1,756
Total current assets . . . . . . . . . . . . . . . . . . . . . 856 1,203 134 3,860 1,332 220 1,986 (1,634 ) 7,957

INVESTMENTS AND OTHER ASSETS
Investments in unconsolidated affiliates . . . . . . . 2 447 1,290 — 155 17 22 — 1,933
Investments and advances (from)
to subsidiaries . . . . . . . . . . . . . . . . . . . . . . . 12,445 2,131 4,900 635 (106 ) 1,039 12,598 (33,642 ) —
Nuclear decommissioning trust funds . . . . . . . . 1,504 — — — — — — — 1,504
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 3,512 — — 256 7 — — 3,775
Notes receivable . . . . . . . . . . . . . . . . . . . . . . . — 3,188 — 4,203 67 37 6,447 (13,804 ) 138
Unrealized gains on mark-to-market and
hedging transactions . . . . . . . . . . . . . . . . . . . — — — — — — 62 — 62
Assets held for sale . . . . . . . . . . . . . . . . . . . . . — 12 — 3,585 — — — — 3,597
Investments in residential, commercial and
multi-family real estate, net . . . . . . . . . . . . . . — — — — — 1,253 28 — 1,281
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,099 209 (1 ) — 180 9 1,246 1 2,743
Total investments and other assets . . . . . . . . . . 15,050 9,499 6,189 8,423 552 2,362 20,403 (47,445 ) 15,033

PROPERTY, PLANT AND EQUIPMENT
Cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,514 14,702 — — 2,283 — 2,075 — 40,574
Less accumulated depreciation
and amortization . . . . . . . . . . . . . . . . . . . . . 7,970 2,622 — — 412 — 370 — 11,374
Net property, plant and equipment . . . . . . . . . . 13,544 12,080 — — 1,871 — 1,705 — 29,200

REGULATORY ASSETS AND DEFERRED DEBITS
Deferred debt expense . . . . . . . . . . . . . . . . . . . 211 47 — — — — 11 — 269
Regulatory asset related to income taxes . . . . . . 384 954 — — — — — — 1,338
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 722 204 — 206 — (1 ) 5 (210 ) 926
Total regulatory assets and deferred debits . . . . 1,317 1,205 — 206 — (1 ) 16 (210 ) 2,533
TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . 30,767 23,987 6,323 12,489 3,755 2,581 24,110 (49,289 ) 54,723

Intercompany balances . . . . . . . . . . . . . . . . . . (11,927 ) (5,295 ) (4,900 ) (5,185 ) (592 ) (1,040 ) (19,614 ) 48,553 —

REPORTABLE SEGMENT ASSETS . . . . . . . . . . $ 18,840 $18,692 $ 1,423 $ 7,304 $3,163 $ 1,541 $ 4,496 $ (736 ) $54,723

6
Consolidated Data

CONSOLIDATING BALANCE SHEET - LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY
Franchised Natural Gas Field Duke Energy International Eliminations/ December 31,
Electric Transmission Services North America Energy Crescent Other Adjustments 2005
(In millions)

CURRENT LIABILITIES
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . $ 594 $ 205 $ 1 $ 1,606 $ 52 $ 40 $ 927 $ (994 ) $ 2,431
Notes payable and commercial paper . . . . . . . . . . — 87 — 41 — — 748 (793 ) 83
Taxes accrued (prepaid) . . . . . . . . . . . . . . . . . . . . — 215 790 (158 ) 105 3 (924 ) 296 327
Interest accrued . . . . . . . . . . . . . . . . . . . . . . . . . 75 91 — — 5 1 66 (8 ) 230
Liabilities associated with assets held for sale . . . . — — — 1,488 — — — — 1,488
Current maturities of long-term debt and
preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . 6 424 — — 63 2 905 — 1,400
Unrealized losses on mark-to-market and
hedging transactions . . . . . . . . . . . . . . . . . . . . . — 22 — 103 — — 79 — 204
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 360 660 — 702 56 289 291 (103 ) 2,255
Total current liabilities . . . . . . . . . . . . . . . . . . . . . 1,035 1,704 791 3,782 281 335 2,092 (1,602 ) 8,418

LONG-TERM DEBT
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . 5,757 5,376 — — 775 23 2,616 — 14,547
Intercompany debt . . . . . . . . . . . . . . . . . . . . . . . — 3,144 — 3,313 — — 7,347 (13,804 ) —
Total long-term debt . . . . . . . . . . . . . . . . . . . . . . 5,757 8,520 — 3,313 775 23 9,963 (13,804 ) 14,547

DEFERRED CREDITS AND OTHER LIABILITIES
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . 2,221 2,216 825 (134 ) 92 — 66 (33 ) 5,253
Investment tax credit . . . . . . . . . . . . . . . . . . . . . . 144 — — — — — — — 144
Unrealized losses (gains) on mark-to-market
and hedging transactions . . . . . . . . . . . . . . . . . . 16 — — 192 — — (198 ) — 10
Liabilities associated with assets held for sale . . . . — — — 2,085 — — — — 2,085
Asset retirement obligations . . . . . . . . . . . . . . . . . 2,029 28 — — — — 1 — 2,058
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,126 1,043 3 — 51 40 965 (208 ) 5,020
Total deferred credits and other liabilities . . . . . . . . 7,536 3,287 828 2,143 143 40 834 (241 ) 14,570
MINORITY INTERESTS . . . . . . . . . . . . . . . . . . . . — 476 — 67 122 47 37 — 749

Common stock . . . . . . . . . . . . . . . . . . . . . . . . . . 10,388 273 1 1 81 1 10,389 (10,746 ) 10,388
Additional paid-in capital . . . . . . . . . . . . . . . . . . . — 5,606 1,766 5,692 2,974 545 1,760 (18,343 ) —
Retained earnings (deficit) . . . . . . . . . . . . . . . . . . 5,335 2,977 2,878 (2,207 ) (330 ) 1,590 (1,774 ) (3,134 ) 5,335
Accumulated other comprehensive income (loss) . . 716 1,144 59 (302 ) (291 ) — 809 (1,419 ) 716
COMMON STOCKHOLDERS’ EQUITY . . . . . . . . . . 16,439 10,000 4,704 3,184 2,434 2,136 11,184 (33,642 ) 16,439
TOTAL LIABILITIES AND COMMON
STOCKHOLDERS’ EQUITY . . . . . . . . . . . . . . . . 30,767 23,987 6,323 12,489 3,755 2,581 24,110 (49,289 ) 54,723

Intercompany balances . . . . . . . . . . . . . . . . . . . . (11,927 ) (5,295 ) (4,900 ) (5,185 ) (592 ) (1,040 ) (19,614 ) 48,553 —

REPORTABLE SEGMENT LIABILITIES AND
COMMON STOCKHOLDERS’ EQUITY . . . . . . . . . $ 18,840 $18,692 $ 1,423 $ 7,304 $3,163 $ 1,541 $ 4,496 $ (736 ) $54,723

7
Consolidated Data

CONSOLIDATED BALANCE SHEETS - ASSETS
December 31

2005 2004 2003 2002 2001
(In millions)

CURRENT ASSETS
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 511 $ 533 $ 397 $ 382 $ 290
Short-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 632 1,319 763 492 —
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,580 3,184 2,953 4,861 5,301
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 863 942 941 971 863
Assets held for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,528 40 361 — —
Unrealized gains on mark-to-market and hedging transactions . . . . . . . . . . . . . . . 87 962 1,566 2,144 2,326
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,756 938 694 887 667
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,957 7,918 7,675 9,737 9,447

INVESTMENTS AND OTHER ASSETS
Investments in unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,933 1,292 1,398 2,015 1,480
Nuclear decommissioning trust funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,504 1,374 925 708 716
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,775 4,148 3,962 3,747 1,730
Notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138 232 260 589 576
Unrealized gains on mark-to-market and hedging transactions . . . . . . . . . . . . . . . 62 1,379 1,857 2,480 3,117
Assets held for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,597 84 1,444 — —
Investments in residential, commercial and multi-family real estate, net . . . . . . . . 1,281 1,128 1,353 1,440 1,253
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,743 1,949 2,137 1,645 1,612
Total investments and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,033 11,586 13,336 12,624 10,484

PROPERTY, PLANT AND EQUIPMENT
Cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,574 46,806 45,987 47,368 38,345
Less accumulated depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . 11,374 13,000 11,879 11,266 9,936
Net property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,200 33,806 34,108 36,102 28,409

REGULATORY ASSETS AND DEFERRED DEBITS
Deferred debt expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 269 297 275 263 203
Regulatory assets related to income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,338 1,269 1,152 936 510
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 926 894 939 460 571
Total regulatory assets and deferred debits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,533 2,460 2,366 1,659 1,284
TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $54,723 $55,770 $57,485 $60,122 $49,624

8
Consolidated Data

CONSOLIDATED BALANCE SHEETS - LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY
December 31

2005 2004 2003 2002 2001
(In millions)

CURRENT LIABILITIES
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,431 $ 2,414 $ 2,317 $ 3,637 $ 4,231
Notes payable and commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 68 130 915 1,603
Taxes accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327 273 14 156 443
Interest accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 230 287 304 310 239
Liabilities associated with assets held for sale . . . . . . . . . . . . . . . . . . . . . . . . 1,488 30 651 — —
Current maturities of long-term debt and preferred stock . . . . . . . . . . . . . . . . . 1,400 1,832 1,200 1,331 274
Unrealized losses on mark-to-market and hedging transactions . . . . . . . . . . . . 204 819 1,283 1,918 1,519
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,255 1,779 1,849 1,770 2,146
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,418 7,502 7,748 10,037 10,455
LONG-TERM DEBT, Including Debt to Affiliates of $876 at 2003 . . . . . . . . . . 14,547 16,932 20,622 20,221 12,321

DEFERRED CREDITS AND OTHER LIABILITIES
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,253 5,228 4,120 4,834 4,307
Investment tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 154 165 176 189
Unrealized losses on mark-to-market and hedging transactions . . . . . . . . . . . . 10 971 1,754 1,548 2,212
Liabilities associated with assets held for sale . . . . . . . . . . . . . . . . . . . . . . . . 2,085 14 737 — —
Asset retirement obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,058 1,926 1,707 — —
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,020 4,982 5,049 4,893 3,564
Total deferred credits and other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,570 13,275 13,532 11,451 10,272
GUARANTEED PREFERRED BENEFICIAL INTERESTS IN SUBORDINATED
NOTES OF DUKE ENERGY CORPORATION OR SUBSIDIARIES . . . . . . . . . — — — 1,408 1,407
MINORITY INTERESTS IN FINANCING SUBSIDIARY . . . . . . . . . . . . . . . . . . — — — — 1,025
MINORITY INTERESTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 749 1,486 1,701 1,904 1,221

PREFERRED AND PREFERENCE STOCK
Preferred and preference stock with sinking fund requirements a . . . . . . . . . . . — — — 23 25
Preferred and preference stock without sinking fund requirements . . . . . . . . . . — 134 134 134 209
Total preferred and preference stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 134 134 157 234

COMMON STOCKHOLDERS’ EQUITY
Common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,388 11,252 9,519 9,236 6,217
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,335 4,539 4,060 6,417 6,292
Accumulated other comprehensive income (loss) . . . . . . . . . . . . . . . . . . . . . . 716 650 169 (709 ) 180
Total common stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,439 16,441 13,748 14,944 12,689
TOTAL LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY . . . . . . . . . . . $54,723 $55,770 $57,485 $60,122 $49,624

a Reclassified to Long Term Debt as a result of the adoption of SFAS No. 150, “Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity”

9
Consolidated Data

CONSOLIDATED STATEMENT OF CASH FLOWS
2005 2004 2003 2002
(In millions)

CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,824 $ 1,490 $ (1,323 ) $ 1,034
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel) . . . . . . . . . . . . . . . . . . . . . . . . 1,884 2,037 1,987 1,692
Cumulative effect of change in accounting principle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 — 162 —
Gains on sales of investments in commercial and multi-family real estate . . . . . . . . . . . . . . . . . . . . . . (191 ) (201 ) (103 ) (106 )
Gains on sales of equity investments and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,646 ) (193 ) (86 ) (81 )
Impairment charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 194 3,495 545
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 282 867 (534 ) 495
Minority Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 538 195 61 116
Equity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (479 ) (161 ) (123 ) (218 )
Purchased capacity levelization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (14 ) 92 194 175
Contribution to company-sponsored pension plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (45 ) (279 ) (194 ) (9 )
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions . . . . . . . . . . . . . . . . . . . . . . . . 468 216 (15 ) 596
Receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (255 ) (231 ) 1,188 8
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (80 ) (48 ) (30 ) 134
Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (944 ) (33 ) (104 ) (335 )
Increase (decrease) in
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81 (5 ) (1,047 ) 798
Taxes accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 188 (168 ) (332 )
Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 622 91 70 (194 )
Capital expenditures for residential real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (355 ) (322 ) (196 ) (179 )
Cost of residential real estate sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294 268 167 117
Other, assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 (155 ) (162 ) 417
Other, liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 533 158 165 (484 )
NET CASH PROVIDED BY OPERATING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,801 4,168 3,404 4,189
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,309 ) (2,161 ) (2,260 ) (4,745 )
Investment expenditures, net of refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (43 ) (46 ) (153 ) (584 )
Acquisitions, net of cash acquired . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (294 ) — — (1,707 )
Purchases of available-for-sale securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (41,073 ) (65,929 ) (40,451 ) (12,812 )
Proceeds from sales and maturities of available-for-sale securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,887 65,098 40,004 12,222
Net proceeds from the sales of and distributions from equity investments and
other assets, and sales of and collections on notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,375 1,619 1,976 526
Proceeds from the sales of commercial and multi-family real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . 372 606 314 169
Settlement of net investment hedges and other investing derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . (321 ) — — —
Distributions from equity investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 383 — — —
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (86 ) 20 (106 ) (13 )
NET CASH USED IN INVESTING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (109 ) (793 ) (676 ) (6,944 )

10
Consolidated Data

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
2005 2004 2003 2002
(In millions)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the:
Issuance of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 543 153 3,009 5,114
Issuance of common stock and common stock related to employee benefit plans . . . . . . . . . . . . . . . . . 41 1,704 277 1,323
Payments for the redemption of:
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,346 ) (3,646 ) (2,849 ) (1,837 )
Preferred stock of a subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (176 ) (38 ) —
Preferred and preference stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (134 ) — — (88 )
Guaranteed preferred beneficial interests in subordinated notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (250 ) —
Notes payable and commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 (67 ) (1,702 ) (1,067 )
Distributions to minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (861 ) (1,477 ) (2,508 ) (2,260 )
Contributions from minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 779 1,277 2,432 2,535
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,105 ) (1,065 ) (1,051 ) (938 )
Repurchase of common shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (933 ) — — —
Proceeds from Duke Energy Income Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 — — —
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 19 23 64
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,717 ) (3,278 ) (2,657 ) 2,846
CHANGES IN CASH AND CASH EQUIVALENTS INCLUDED IN ASSETS HELD FOR SALE . . . . . . . . . . . 3 39 (55 ) —
CHANGE IN CASH AND CASH EQUIVALENTS
Net (decrease) increase in cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (22 ) 136 16 91
Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 533 397 381 290
CASH AND CASH EQUIVALENTS AT END OF YEAR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 511 $ 533 $ 397 $ 381

11
Consolidated Data

CAPITAL AND INVESTMENT EXPENDITURES

2005 2004 2003 2002 2001
(In millions)

Franchised Electric a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,332 $1,126 $1,015 $1,269 $1,115
Natural Gas Transmission c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,902 b
930 544 773 938
Field Services c, d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 202 204 285 397
Duke Energy North America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 22 277 2,013 3,213
International Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 28 71 412 442
Crescent e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 599 568 290 275 452
Other f . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 39 (21 ) 136 461
Cash acquired in acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — (77) (17)
TOTAL CAPITAL AND INVESTMENT EXPENDITURES . . . . . . . . . . . . . . . $3,001 $2,529 $2,609 $7,215 $7,001

a Amounts include capital and investment expenditures associated with North Carolina clean-air legislation of $301 million in 2005, $106 million in 2004 and $18 million in 2003, which are included in
Capital Expenditures within Cash Flows from Investing Activities on the accompanying Statements of Cash Flows
b Includes approximately $1,707 million associated with the acquisition of Westcoast Energy Inc. (Westcoast).
c In connection with the DEFS disposition transaction effective July 1, 2005, DEFS transferred its Canadian natural gas gathering and processing facilities to the Natural Gas Transmission segment. Prior
period amounts have been retrospectively adjusted to reflect expenditures in the proper segments.
d As a result of the deconsolidation of DEFS, effective July 1, 2005, Field Services amounts for 2005 only include DEFS capital and investment expenditures for periods prior to July 1, 2005.
e Amounts include capital expenditures for residential real estate included in operating cash flows of $355 million in 2005, $322 million in 2004, $196 million in 2003, $179 million in 2002 and
$230 million in 2001.
f Amounts for 2001 - 2003 include deferral of the consolidation of 50% of the profit earned by Duke/Fluor Daniel for the construction of Duke Energy North America’s merchant generation plants, which is
associated with Duke Energy’s share of ownership.

12
Consolidated Data

LONG-TERM DEBT AS OF 12/31/2005
Redemption Date of Next Next
Price at Redemption Redemption 2011 and
(In millions) Year Due 12/31/05 (%) Price Change Price (%) 2006 2007 2008 2009 2010 Beyond Total

DUKE ENERGY CORPORATION UNCONSOLIDATED
First and Refunding Mortgage Bonds:
3.75% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2008 $ — $ — $ 500 $ — $ — $ — $ 500
4.50% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 — — — — 200 — 200
5.30% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2015 — — — — — 500 500
a 8.95% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2027 — — — — — 14 14
Subtotal, First and Refunding Mortgage Bonds . . . . . . . . . . . . . . . . . . — — 500 — 200 514 1,214
Pollution Control Bonds:
Series 1999 (Floating Rate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2012 100.000 — — — — — 20 20
Subtotal, Pollution Control Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 172 172
Notes:
4.611% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2007 — 110 — — — — 110
4.20% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2008 — — 300 — — — 300
5.375% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009 — — — 200 — — 200
7.375% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 — — — — 300 — 300
5.625% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2012 — — — — — 400 400
6.25% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2012 — — — — — 750 750
a 6.90% - 9.210% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2011-2016 5 5 5 5 5 16 41
6.60% Retail Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022 4/1/2006 100.000 — — — — — 250 250
1.75% Convertible Senior Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . 2023 — — — — — 742 742
6.0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2028 — — — — — 300 300
6.45% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2032 — — — — — 350 350
Subtotal, Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 115 305 205 305 2,808 3,743
Accounts Receivable Securitization . . . . . . . . . . . . . . . . . . . . . . . . . . . 2007 — 300 — — — — 300
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 1 1 2 2 2 — 8
Commercial Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 300 300
Fair Value Hedge Carrying Value Adjustment . . . . . . . . . . . . . . . . . . . . 2006-2032 — 6 5 5 3 17 36
Unamortized Debt Discount/Premium . . . . . . . . . . . . . . . . . . . . . . . . . — (1 ) (1 ) (1 ) (1 ) (6 ) (10 )
Subtotal, Duke Energy Corporation Unconsolidated . . . . . . . . . . . . . . 6 421 811 211 509 3,805 5,763
DUKE CAPITAL LLC UNCONSOLIDATED
Notes:
4.302% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2006 400 — — — — — 400
4.331% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2006 350 — — — — — 350
7.50% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009 — — — 500 — — 500
4.37% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009 — — — 148 — — 148
6.25% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2013 — — — — — 500 500
5.50% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2014 — — — — — 149 149
5.668% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2014 — — — — — 408 408
6.75% Note B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2018 — — — — — 150 150
8.0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2019 — — — — — 500 500
6.75% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2032 — — — — — 240 240
Subtotal, Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 750 — — 648 — 1,947 3,345
Duke/Fluor Daniel Loan (Floating Rate) . . . . . . . . . . . . . . . . . . . . . . . . 2006 4 — — — — — 4
Fair Value Hedge Carrying Value Adjustment . . . . . . . . . . . . . . . . . . . . 2009-2025 — 7 7 7 — — 21
Unamortized Debt Discount/Premium . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (3 ) (3 )
Subtotal, Duke Capital LLC Unconsolidated . . . . . . . . . . . . . . . . . . . . 754 7 7 655 — 1,944 3,367

a Private Placement

13
Consolidated Data

LONG-TERM DEBT (CONTINUED)
Redemption Date of Next Next
Price at Redemption Redemption 2011 and
(In millions) Year Due 12/31/05 (%) Price Change Price (%) 2006 2007 2008 2009 2010 Beyond Total

PANENERGY
Notes:
7.0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2006 150 — — — — — 150
Subtotal, PanEnergy Corp . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150 — — — — — 150
TEXAS EASTERN TRANSMISSION
Notes:
5.25% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2007 — 300 — — — — 300
7.30% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 — — — — 300 — 300
Medium-term, Series A, 9.00% - 9.07% . . . . . . . . . . . . . . . . . . . . . . 2012 — — — — — 20 20
7.0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2032 — — — — — 450 450
Subtotal, Texas Eastern Transmission . . . . . . . . . . . . . . . . . . . . . . . . — 300 — — 300 470 1,070
WESTCOAST ENERGY INC.
6.450% Series V . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2006 107 — — — — — 107
5.70% MTN Series 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2008 — — 129 — — — 129
12.55% Series L . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 — — — — 86 — 86
7.20% MTN Series 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 — — — — 129 — 129
8.30% Series P . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2013 — — — — — 86 86
8.50% Series U . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2015 — — — — — 107 107
8.50% Series O . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2018 — — — — — 129 129
9.90% Series S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2020 — — — — — 86 86
8.85% Series T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2025 — — — — — 129 129
8.80% MTN Series 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2025 — — — — — 21 21
7.30% Series W . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2026 — — — — — 107 107
6.75% MTN Series 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2027 — — — — — 129 129
7.15% MTN Series 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2031 — — — — — 172 172
Synthetic Lease . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2006 173 — — — — — 173
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Various — — — — — 23 23
Subtotal, Westcoast Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280 — 129 — 215 989 1,613

UNION GAS LIMITED
7.80% Series 1996 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2006 64 — — — — — 64
5.19% MTN Series 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2007 — 172 — — — — 172
5.70% MTN Series 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2008 — — 86 — — — 86
13.50% Series 1983 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2008 100.000 1 1 3 — — — 5
10.75% Series 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009 2 3 3 20 — — 28
7.20% MTN Series 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 — — — — 159 — 159
11.55% 1988 Series II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 3 3 3 3 34 — 46
6.65% MTN Series 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2011 — — — — — 215 215
4.64% MTN Series 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2016 — — — — — 172 172
10.625% Series 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2011 7/12/2007 100.000 — — — — — 107 107
7.90% Series 1994 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2014 — — — — — 129 129
11.50% Series 1990 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2015 — — — — — 129 129
9.70% 1992 Series II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2017 — — — — — 107 107
8.75% Series 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2018 — — — — — 107 107
8.65% Series 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2018 — — — — — 65 65
8.65% Series 1995 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2025 — — — — — 107 107
Capitalized Leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 1 2 — — 5
Subtotal, Union Gas Limited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 180 96 25 193 1,138 1,703

14
Consolidated Data

Duke-Energy 2005_Stat

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