Más contenido relacionado Similar a Duke_Energy_2003_Stat_Supp (20) Duke_Energy_2003_Stat_Supp2. 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
37 Operating Statistics
10 Consolidated Statement of Cash Flows
11 Capital and Investment Expenditures 38 INTERNATIONAL ENERGY
12 Long-Term Debt
39 Segment Earnings Before Interest and Taxes
15 Preferred and Preference Stock
40 Segment Balance Sheets
16 Capitalization
42 Operating Statistics
17 FRANCHISED ELECTRIC
43 CRESCENT RESOURCES
18 Segment Earnings Before Interest and Taxes
44 Segment Earnings Before Interest and Taxes
19 Segment Balance Sheets
45 Segment Balance Sheets
21 Operating Statistics
47 Operating Statistics
23 NATURAL GAS TRANSMISSION
24 Segment Earnings Before Interest and Taxes
25 Segment Balance Sheets
27 Operating Statistics
Contents
3. Duke Energy Corporation
FINANCIAL HIGHLIGHTS
Years ended December 31
2003 2002 2001 2000 1999
(In millions, except per share amounts)
COMMON STOCK DATA a
(Loss) earnings per share (from continuing operations)
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (1.13) $ 1.53 $ 2.59 $ 2.43 $ 1.12
Dilutive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (1.13) $ 1.53 $ 2.57 $ 2.42 $ 1.12
(Loss) earnings per share (from discontinued operations)
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (0.17) $ (0.31) $ (0.01) $ (0.04) $ 0.01
Dilutive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (0.17) $ (0.31) $ (0.01) $ (0.04) $ 0.01
(Loss) earnings per share (before cumulative
effect of change in accounting principle)
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (1.30) $ 1.22 $ 2.58 $ 2.39 $ 1.13
Dilutive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (1.30) $ 1.22 $ 2.56 $ 2.38 $ 1.13
(Loss) earnings per share
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (1.48) $ 1.22 $ 2.45 $ 2.39 $ 2.04
Dilutive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... $ (1.48) $ 1.22 $ 2.44 $ 2.38 $ 2.03
Shares Outstanding at Year End . . . . . . . . . . . . . . . . . . . . . . . . . . . . 911 895 777 739 733
Weighted Average Shares Outstanding . . . . . . . . . . . . . . . . . . . . . . . . 903 836 767 736 729
Dividends Paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,051 $ 938 $ 871 $ 828 $ 822
Dividends Paid (per share) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.10 $ 1.10 $ 1.10 $ 1.10 $ 1.10
Book Value (per share) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15.09 $16.70 $16.33 $13.60 $12.23
Historical Reference b
Market Price (per share)
High . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21.57 $40.00 $47.74 $44.97 $32.34
Low . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $12.21 $16.42 $32.22 $23.19 $23.53
Close . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.45 $19.54 $39.26 $42.63 $25.06
a Amounts prior to 2001 were restated to reflect the two-for-one common stock split effective January 26, 2001.
b As of 2001, data reflects the intra-day high and low stock price.
2 Consolidated Data
4. Duke Energy Corporation
EARNINGS BEFORE INTEREST AND TAXES BY BUSINESS SEGMENT
Consolidated
Eliminations, Earnings (Loss)
EBIT
Interest Expense, from Continuing
Franchised Natural Gas Field Duke Energy International Minority Interest Operations before
Electric Transmission Services North America Energy Crescent Expense & Other Income Taxes
(In millions)
2003 QUARTERS ENDED
March 31 . . . . . . . . . . . . . . $ 454 $ 423 $ 30 $ 23 $ 40 $— $ (383) $ 587
June 30 . . . . . . . . . . . . . . . 316 306 53 211 91 21 (402) 596
(411 ) a
Sept 30 . . . . . . . . . . . . . . . 436 280 51 44 40 (458) (18)
(3,164 ) b
Dec 31 . . . . . . . . . . . . . . . . 197 308 52 35 72 (383) (2,883)
$133 c
Total . . . . . . . . . . . . . . . . . $1,403 $1,317 $186 $(3,341 ) $210 $(1,626) $(1,718)
2002 QUARTERS ENDED
March 31 . . . . . ...... . . . $ 384 $ 266 $ 36 $ 54 $ 49 $ 2 $ (253) $ 538
June 30 . . . . . . ...... . . . 388 313 44 196 61 23 (309) 716
Sept 30 . . . . . . ...... . . . 575 288 21 (107 ) (31) 16 (405) 357
Dec 31 . . . . . . . ...... . . . 248 294 48 26 23 117 (460) 296
Total . . . . . . . . . . . . . . . . . . $1,595 $1,161 $149 $ 169 $102 $158 $(1,427) $ 1,907
2001 QUARTERS ENDED
March 31 . . . . . ...... . . . $ 459 $ 175 $122 $ 384 $ 56 $ 3 $ (328) $ 871
June 30 . . . . . . ...... . . . 358 141 84 272 61 31 (280) 667
Sept 30 . . . . . . ...... . . . 607 142 72 654 52 50 (311) 1,266
Dec 31 . . . . . . . ...... . . . 202 149 56 177 67 83 (390) 344
Total . . . . . . . . . . . . . . . . . . $1,626 $ 607 $334 $ 1,487 $236 $167 $(1,309) $ 3,148
a Includes a $254 million goodwill writeoff.
b Includes $2,903 million of impairments (related to DENA’s plants and redesignation of power contracts to mark-to-market).
c $18 million of Crescent’s segment EBIT was classified in discontinued operations.
3
Consolidated Data
5. Duke Energy Corporation
CONSOLIDATING STATEMENT OF OPERATIONS
Natural Year Ended
Franchised Gas Field Duke Energy International Eliminations/ December 31,
(In millions) Electric Transmission Services North America Energy Crescent Other Adjustments 2003
OPERATING REVENUES
Non-regulated electric, natural gas, natural gas liquids, and other . . . . . . . . $ — $ — $8,661 $ 4,156 $597 $284 $1,628 $(1,140 ) $14,186
Regulated electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,883 — — 165 — — — (22 ) 5,026
Regulated natural gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 3,197 — — — — — (255 ) 2,942
Total operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,883 3,197 8,661 4,321 597 284 1,628 (1,417 ) 22,154
OPERATING EXPENSES
Natural gas and petroleum products purchased . . . . . . . . . . . . . . . . . . . . — 768 7,494 3,023 52 — 1,305 (1,169 ) 11,473
Fuel used in electric generation and purchased power . . . . . . . . . . . . . . . . 1,204 — — 677 206 — — — 2,087
Operation and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,308 661 591 621 86 219 518 (227 ) 3,777
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 748 393 299 251 57 7 44 — 1,799
Property and other taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 273 147 44 38 5 6 13 — 526
Impairment and other related charges . . . . . . . . . . . . . . . . . . . . . . . . . . — — — 2,903 — — 53 — 2,956
Impairment of goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — 254 — — — — 254
Total operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,533 1,969 8,428 7,767 406 232 1,933 (1,396 ) 22,872
GAINS ON SALES OF INVESTMENTS IN COMMERCIAL
AND MULTI-FAMILY REAL ESTATE . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 84 — — 84
GAINS (LOSSES) ON SALES OF OTHER ASSETS, NET . . . . . . . . . . . . . . 6 7 (4 ) (208 ) — — — — (199 )
OPERATING INCOME (LOSS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,356 1,235 229 (3,654 ) 191 136 (305 ) (21 ) (833 )
OTHER INCOME AND EXPENSES
Equity in earnings (losses) of unconsolidated affiliates . . . . . . . . . . . . . . . . — 27 56 20 27 — (7 ) — 123
Gains on sales of equity investments . . . . . . . . . . . . . . . . . . . . . . . . . . . — 90 11 178 — — — — 279
Other income and expenses, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 8 — 8 5 — 40 46 154
Total other income and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 125 67 206 32 — 33 46 556
MINORITY INTEREST EXPENSE (BENEFIT) a . . . . . . . . . . . . . . . . . . . . . — 43 110 (107 ) 13 3 —
EARNINGS BEFORE INTEREST AND TAXES (EBIT) . . . . . . . . . . . . . . . . . $1,403 $1,317 $ 186 $(3,341 ) $210 $133 $ (272 )
INTEREST EXPENSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,380
MINORITY INTEREST EXPENSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES . . . . . . (1,718 )
INCOME TAX BENEFIT FROM CONTINUING OPERATIONS . . . . . . . . . . . (709 )
LOSS FROM CONTINUING OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . (1,009 )
DISCONTINUED OPERATIONS
Net operating loss, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (23 )
Net loss on dispositions, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . (129 )
LOSS FROM DISCONTINUED OPERATIONS . . . . . . . . . . . . . . . . . . . . . . (152 )
LOSS BEFORE CUMULATIVE EFFECT OF
CHANGE IN ACCOUNTING PRINCIPLE . . . . . . . . . . . . . . . . . . . . . . . . (1,161 )
CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING
PRINCIPLE, NET OF TAX AND MINORITY INTEREST . . . . . . . . . . . . . . (162 )
NET LOSS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,323 )
DIVIDENDS AND PREMIUMS ON REDEMPTION OF
PREFERRED AND PREFERENCE STOCK . . . . . . . . . . . . . . . . . . . . . . . 15
LOSS AVAILABLE FOR COMMON STOCKHOLDERS . . . . . . . . . . . . . . . . $ (1,338 )
a Includes minority interest expense related to EBIT and excludes minority interest expense related to interest and taxes.
4 Consolidated Data
6. Duke Energy Corporation
CONSOLIDATED STATEMENTS OF OPERATIONS
Years ended December 31
2003 2002 2001
(In millions)
OPERATING REVENUES
Non-regulated electric, natural gas, natural gas liquids, and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,186 $ 8,818 $11,936
Regulated electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,026 4,880 5,088
Regulated natural gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,942 2,200 922
Total operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,154 15,898 17,946
OPERATING EXPENSES
Natural gas and petroleum products purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,473 5,382 6,909
Fuel used in electric generation and purchased power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,087 2,191 2,022
Operation and maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,777 3,313 3,712
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,799 1,511 1,258
Property and other taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 526 534 430
Impairment and other related charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,956 364 —
Impairment of goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 254 — 36
Total operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,872 13,295 14,367
GAINS ON SALES OF INVESTMENTS IN COMMERCIAL AND MULTI-FAMILY REAL ESTATE . . . . . . . . . . . . . . . . . . . . . . . . 84 106 106
(LOSSES) GAINS ON SALES OF OTHER ASSETS, NET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (199 ) 32 238
OPERATING (LOSS) INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (833 ) 2,741 3,923
OTHER INCOME AND EXPENSES
Equity in earnings of unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 218 164
Gains on sales of equity investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279 32 —
Other income and expenses, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 129 147
Total other income and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 556 379 311
INTEREST EXPENSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,380 1,097 760
MINORITY INTEREST EXPENSE a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 116 326
(LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,718 ) 1,907 3,148
INCOME TAX (BENEFIT) EXPENSE FROM CONTINUING OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (709 ) 611 1,149
(LOSS) INCOME FROM CONTINUING OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,009 ) 1,296 1,999
DISCONTINUED OPERATIONS
Net operating loss, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (23 ) (262 ) (5 )
Net loss on dispositions, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (129 ) — —
LOSS FROM DISCONTINUED OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (152 ) (262 ) (5 )
(LOSS) INCOME BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE . . . . . . . . . . . . . . . . . . . . . . . (1,161 ) 1,034 1,994
CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE, NET OF TAX AND MINORITY INTEREST . . . . . . . . . . . . . (162 ) — (96 )
NET (LOSS) INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,323 ) 1,034 1,898
DIVIDENDS AND PREMIUMS ON REDEMPTION OF PREFERRED AND PREFERENCE STOCK . . . . . . . . . . . . . . . . . . . . . . . 15 13 14
(LOSS) EARNINGS AVAILABLE FOR COMMON STOCKHOLDERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (1,338 ) $ 1,021 $ 1,884
a Minority interest expense includes dividends of $55 million in 2003, $108 million in 2002 and $108 million in 2001 related to trust preferred securities.
5
Consolidated Data
7. Duke Energy Corporation
CONSOLIDATING BALANCE SHEET - ASSETS
Natural
Franchised Gas Field Duke Energy International Eliminations/ December 31,
Electric Transmission Services North America Energy Crescent Other Adjustments 2003
(In millions)
CURRENT ASSETS
Cash and cash equivalents . . . . . . ... . . . . . . $ 148 $ 113 $ 43 $ 59 $ 67 $ 18 $ 721 $ (9 ) $ 1,160
Receivables, net . . . . . . . . . . . . . ... . . . . . . 2,938 444 858 759 281 171 (1,773 ) (790 ) 2,888
Inventory . . . . . . . . . . . . . . . . . . ... . . . . . . 393 236 45 171 28 — 68 — 941
Assets held for sale . . . . . . . . . . . ... . . . . . . — — — — 409 — 15 — 424
Unrealized gains on mark-to-market and
hedging transactions . . . . . . . . . ... ...... 1 2 89 1,378 (2 ) — 98 — 1,566
Other . . . . . . . . . . . . . . . . . . . . ... ...... 14 78 19 305 21 — 91 166 694
Total current assets . . . . . . . . . . . . . . . . . . . . 3,494 873 1,054 2,672 804 189 (780 ) (633 ) 7,673
INVESTMENTS AND OTHER ASSETS
Investments in unconsolidated affiliates . . . . . . — 792 194 178 147 15 72 — 1,398
Investments and advances in subsidiaries . . . . . 8,708 3,235 (17 ) (119 ) (258 ) 133 19,083 (30,765 ) —
Nuclear decommissioning trust funds . . . . . . . . 925 — — — — — — — 925
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . — 3,224 493 — 238 7 — — 3,962
Notes receivable . . . . . . . . . . . . . . . . . . . . . . — 28 1 1 128 102 — — 260
Unrealized gains on mark-to-market and
hedging transactions . . . . . . . . . . . . . ..... 6 — 29 1,735 — — 196 (109 ) 1,857
Assets held for sale . . . . . . . . . . . . . . . ..... — — — 164 1,216 — 64 — 1,444
Investment in residential, commercial
and multi-family real estate . . . . . . . . ..... — — — — — 1,331 — — 1,331
Other . . . . . . . . . . . . . . . . . . . . . . . . ..... 73 3 188 99 261 10 483 — 1,117
Total investments and other assets . . . . . . . . . 9,712 7,282 888 2,058 1,732 1,598 19,898 (30,874 ) 12,294
PROPERTY, PLANT AND EQUIPMENT
Cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,326 12,564 6,042 4,771 2,016 — 297 (7 ) 46,009
Less accumulated depreciation
and amortization . . . . . . . . . . . . . . . . . . . . 7,676 2,133 1,579 385 264 — 102 — 12,139
Net property, plant and equipment . . . . . . . . . 12,650 10,431 4,463 4,386 1,752 — 195 (7 ) 33,870
REGULATORY ASSETS AND
DEFERRED DEBITS
Deferred debt expense . . . . . . . . . . . . . . . . . . 207 60 — — — — 8 — 275
Regulatory asset related to income taxes . . . . . 381 771 — — — — — — 1,152
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 672 206 — 5 — — 21 35 939
Total regulatory assets and deferred debits . . . . 1,260 1,037 — 5 — — 29 35 2,366
TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . 27,116 19,623 6,405 9,121 4,288 1,787 19,342 (31,479 ) 56,203
Intercompany balances . . . . . . . . . . . . . . . . . (11,028 ) (3,239 ) 12 63 262 (134 ) (16,757 ) 30,821 —
REPORTABLE SEGMENT ASSETS . . . . . . . . . . $ 16,088 $16,384 $6,417 $9,184 $4,550 $1,653 $ 2,585 $(658 ) $56,203
6 Consolidated Data
8. Duke Energy Corporation
CONSOLIDATING BALANCE SHEET - LIABILITIES AND STOCKHOLDERS’ EQUITY
Natural
Franchised Gas Field Duke Energy International Eliminations/ December 31,
Electric Transmission Services North America Energy Crescent Other Adjustments 2003
(In millions)
CURRENT LIABILITIES
Accounts payable . . . . . . . . . . . . . . . . . . . . . $ 294 $ 465 $ 682 $ 621 $ 83 $ 8 $ 343 $ (165 ) $ 2,331
Notes payable and commercial paper . . . . . . . . 78 12 22 35 — — 2 (19 ) 130
Interest accrued . . . . . . . . . . . . . . . . . . . . . . 76 91 59 455 3 1 68 (449 ) 304
Liabilities associated with assets held for sale . . — — — — 651 — — — 651
Current maturities of long-term debt . . . . . . . . 6 389 — 17 95 11 680 2 1,200
Unrealized losses on mark-to-market and
hedging transactions . . . . . . . . . . . . . . . . .. 2 19 178 976 2 — 106 — 1,283
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 309 514 152 366 60 109 339 (50 ) 1,799
Total current liabilities . . . . . . . . . . . . . . . . . . 765 1,490 1,093 2,470 894 129 1,538 (681 ) 7,698
LONG-TERM DEBT
Long-term debt . . . . . . . . . . . . . . . . . . . . . . 6,947 5,312 2,263 2,868 476 22 2,736 (2 ) 20,622
Inter-company debt . . . . . . . . . . . . . . . . . . . . 10 1,569 — 3,721 — — 2,472 (7,772 ) —
Total long-term debt . . . . . . . . . . . . . . . . . . . 6,957 6,881 2,263 6,589 476 22 5,208 (7,774 ) 20,622
DEFERRED CREDITS AND
OTHER LIABILITIES
Deferred income taxes . . . . . . . . . . ........ 2,032 1,775 814 (575 ) 123 — (49 ) — 4,120
Investment tax credit . . . . . . . . . . . ........ 165 — — — — — — — 165
Unrealized losses on mark-to-market
and hedging transactions . . . . . . . ........ 22 — 38 1,502 — — 192 — 1,754
Liabilities associated with assets
held for sale . . . . . . . . . . . . . . . ........ — — — — 737 — — — 737
Other . . . . . . . . . . . . . . . . . . . . . ........ 3,427 674 73 96 68 45 908 233 5,524
Total deferred credits and other liabilities . . . . . 5,646 2,449 925 1,023 928 45 1,051 233 12,300
MINORITY INTERESTS . . . . . . . . . . . . . . . . . — 530 952 64 124 30 1 — 1,701
PREFERRED AND PREFERENCE
STOCK WITHOUT SINKING
FUND REQUIREMENTS . . . . . . . . . . . . . . . — 109 — — — — 134 (109 ) 134
COMMON STOCKHOLDERS' EQUITY . . . . . . . 13,748 8,164 1,172 (1,025 ) 1,866 1,561 11,410 (23,148 ) 13,748
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY . . . . . . . . . . . . . . 27,116 19,623 6,405 9,121 4,288 1,787 19,342 (31,479 ) 56,203
Intercompany balances . . . . . . . . . . . . . . . . . (11,028 ) (3,239 ) 12 63 262 (134 ) (16,757 ) 30,821 —
REPORTABLE SEGMENT LIABILITIES
AND STOCKHOLDERS' EQUITY . . . . . . . . . . $ 16,088 $16,384 $6,417 $ 9,184 $4,550 $1,653 $ 2,585 $(658 ) $56,203
7
Consolidated Data
9. Duke Energy Corporation
CONSOLIDATED BALANCE SHEETS - ASSETS
December 31
2003 2002 2001 2000 1999
(In millions)
CURRENT ASSETS
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,160 $ 874 $ 290 $ 622 $ 613
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,888 4,861 5,301 8,648 3,248
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 941 971 863 659 545
Assets held for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 424 — — — —
Unrealized gains on mark-to-market and hedging transactions . . . . . . . . . . . . . . 1,566 2,144 2,326 11,038 1,131
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 694 887 667 1,466 580
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,673 9,737 9,447 22,433 6,117
INVESTMENTS AND OTHER ASSETS
Investments in unconsolidated affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,398 2,015 1,480 1,387 1,299
Nuclear decommissioning trust funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 925 708 716 717 703
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,962 3,747 1,730 1,566 844
Notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 260 589 576 462 154
Unrealized gains on mark-to-market and hedging transactions . . . . . . . . . . . . . . 1,857 2,480 3,117 4,218 690
Assets held for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,444 — — — —
Investments in residential, commercial and multi-family real estate, net . . . . . . . . 1,331 1,440 1,253 1,150 782
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,117 1,645 1,612 1,447 1,020
Total investments and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,294 12,624 10,484 10,947 5,492
PROPERTY, PLANT AND EQUIPMENT
Cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,009 47,368 38,345 33,501 29,689
Less accumulated depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . 12,139 11,266 9,936 9,075 8,443
Net property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33,870 36,102 28,409 24,426 21,246
REGULATORY ASSETS AND DEFERRED DEBITS
Deferred debt expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275 263 203 208 223
Regulatory asset related to income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,152 936 510 506 500
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 939 460 571 756 810
Total regulatory assets and deferred debits . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,366 1,659 1,284 1,470 1,533
TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $56,203 $60,122 $49,624 $59,276 $34,388
8 Consolidated Data
10. Duke Energy Corporation
CONSOLIDATED BALANCE SHEETS - LIABILITIES AND STOCKHOLDERS’ EQUITY
December 31
2003 2002 2001 2000 1999
(In millions)
CURRENT LIABILITIES
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,331 $ 3,637 $ 4,231 $ 7,733 $ 2,312
Notes payable and commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 915 1,603 1,826 267
Taxes accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 156 443 261 685
Interest accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 304 310 239 208 139
Liabilities associated with assets held for sale . . . . . . . . . . . . . . . . . . . . . . . 651 — — — —
Current maturities of long-term debt and preferred stock . . . . . . . . . . . . . . . . 1,200 1,331 274 470 515
Unrealized losses on mark-to-market and hedging transactions . . . . . . . . . . . 1,283 1,918 1,519 11,070 1,241
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,799 1,770 2,146 1,769 717
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,698 10,037 10,455 23,337 5,876
LONG-TERM DEBT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,622 20,221 12,321 10,717 8,683
DEFERRED CREDITS AND OTHER LIABILITIES
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,120 4,834 4,307 3,851 3,402
Investment tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 176 189 211 225
Unrealized losses on mark-to-market and hedging transactions . . . . . . . . . . . 1,754 1,548 2,212 3,581 438
Liabilities associated with assets held for sale . . . . . . . . . . . . . . . . . . . . . . . 737 — — — —
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,524 4,893 3,564 3,435 3,882
Total deferred credits and other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . 12,300 11,451 10,272 11,078 7,947
GUARANTEED PREFERRED BENEFICIAL INTERESTS IN SUBORDINATED
NOTES OF DUKE ENERGY CORPORATION OR SUBSIDIARIES . . . . . . . . . . — 1,408 1,407 1,406 1,404
MINORITY INTERESTS IN FINANCING SUBSIDIARY . . . . . . . . . . . . . . . . . — — 1,025 1,025 —
MINORITY INTERESTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,701 1,904 1,221 1,410 1,200
PREFERRED AND PREFERENCE STOCK
Preferred and preference stock with sinking fund requirements . . . . . . . . . . . . — 23 25 38 71
Preferred and preference stock without sinking fund requirements . . . . . . . . . 134 134 209 209 209
Total preferred and preference stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 157 234 247 280
COMMON STOCKHOLDERS' EQUITY
Common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,519 9,236 6,217 4,797 4,603
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,060 6,417 6,292 5,379 4,397
Accumulated other comprehensive income (loss) . . . . . . . . . . . . . . . . . . . . . 169 (709 ) 180 (120 ) (2 )
Total common stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,748 14,944 12,689 10,056 8,998
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY . . . . . . . . . . . . . . . . . . $56,203 $60,122 $49,624 $59,276 $34,388
9
Consolidated Data
11. Duke Energy Corporation
CONSOLIDATED STATEMENT OF CASH FLOWS
Years ended December 31
2003 2002 2001
(In millions)
OPERATING ACTIVITIES
Net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................. $(1,323 ) $ 1,034 $ 1,898
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,987 1,692 1,450
Cumulative effect of change in accounting principle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162 — 96
Gains on sales of investments in commercial and multi-family real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (103 ) (106 ) (106 )
Gain on sales of equity investments and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (86 ) (81 ) (238 )
Impairment charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,495 545 36
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (534 ) 495 129
Purchased capacity levelization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194 175 156
Contribution to company-sponsored pension plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (181 ) — —
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (15 ) 596 91
Receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,126 12 3,166
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (30 ) 134 (192 )
Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (77 ) (335 ) 694
Increase (decrease) in
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,030 ) 798 (3,545 )
Taxes accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (168 ) (332 ) 183
Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 (194 ) 325
Capital expenditures for residential real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (196 ) (179 ) (230 )
Cost of residential real estate sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167 117 90
Other, assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (29 ) 200 (11 )
Other, liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (19 ) (372 ) (243 )
NET CASH PROVIDED BY OPERATING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,419 4,199 3,749
INVESTING ACTIVITIES
Capital expenditures, net of refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ...................... . . . . . . . . . . . . . . . . . . . . . (2,275 ) (4,745 ) (5,700 )
Investment expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ...................... . . . . . . . . . . . . . . . . . . . . . (290 ) (641 ) (1,093 )
Acquisition of Westcoast Energy Inc., net of cash acquired . . . . . . . . . . . . . . ... ...................... . . . . . . . . . . . . . . . . . . . . . — (1,707 ) —
Proceeds from sales of commercial and multi-family real estate . . . . . . . . . . . ... ...................... . . . . . . . . . . . . . . . . . . . . . 314 169 378
Net proceeds from the sales of equity investment and other assets, and sales of and collections on notes receivable . . . . . . . . . . . . . . . . . . . . . 1,966 516 943
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ...................... . . . . . . . . . . . . . . . . . . . . . (136 ) (53 ) 37
NET CASH USED IN INVESTING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (421 ) (6,461 ) (5,435 )
FINANCING ACTIVITIES
Proceeds from the
Issuance of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................ 3,009 5,114 2,673
Issuance of common stock and common stock related to employee benefit plans ............................................ 277 1,323 1,432
Payments for the redemption of
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,849 ) (1,837 ) (1,298 )
Preferred and preference stock and preferred member interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (38 ) (88 ) (33 )
Guaranteed preferred beneficial interests in subordinated notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (250 ) — —
Notes payable and commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,702 ) (1,067 ) (246 )
Distributions to minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,508 ) (2,260 ) (3,063 )
Contributions from minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,432 2,535 2,733
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,051 ) (938 ) (871 )
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 64 27
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,657 ) 2,846 1,354
CHANGES IN CASH AND CASH EQUIVALENTS ASSOCIATED WITH ASSETS HELD FOR SALE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (55 ) — —
CHANGE IN CASH AND CASH EQUIVALENTS
Net increase (decrease) in cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 286 584 (332 )
Cash and cash equivalents at beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 874 290 622
CASH AND CASH EQUIVALENTS AT END OF PERIOD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,160 $ 874 $ 290
10 Consolidated Data
12. Duke Energy Corporation
CAPITAL AND INVESTMENT EXPENDITURES
Years ended December 31
2003 2002 2001 2000 1999
(In millions)
Franchised Electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,030 $1,269 $1,115 $ 661 $759
Natural Gas Transmission a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 766 2,878 748 973 261
Field Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211 309 587 376 1,630
Duke Energy North America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 277 2,013 3,213 1,735 1,028
International Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 412 442 980 1,779
Crescent b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 290 275 452 550 368
Other c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116 193 483 359 111
Cash acquired in acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (77) (17) (100) (49)
TOTAL CAPITAL AND INVESTMENT EXPENDITURES . . . . . . . . . . . . . . . $2,761 $7,272 $7,023 $5,534 $5,887
a Amounts include the acquisition of Westcoast Energy Inc. (Westcoast) in 2002.
b Amounts include capital expenditures for residential real estate included in operating cash flows of $196 million in 2003, $179 million in 2002, $230 million in 2001, $113 million in 2000, and
$91 million in 1999.
c Amounts include deferral in 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 ownership.
11
Consolidated Data
13. Duke Energy Corporation
LONG-TERM DEBT AS OF 12/31/2003
Redemption Date of Next Next
Price at Redemption Redemption 2009 and
(In millions) Year Due 12/31/03 (%) Price Change Price (%) 2004 2005 2006 2007 2008 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 — — — — — 15 15
Subtotal, First and Refunding Mortgage Bonds . . . . . . . . . . . . . . . . — — — — 500 715 1,215
Pollution Control Bonds:
Series 1999 (Floating Rate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2012 100.000 — — — — — 20 20
Series 1990 (Floating Rate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2014 100.000 — — — — — 40 40
Series 1993 (Floating Rate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2017 100.000 — — — — — 77 77
Series 1999 (Floating Rate) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2017 100.000 — — — — — 35 35
Subtotal, Pollution Control Bonds . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 172 172
Notes:
Floating Rate Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2005 — 500 — — — — 500
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 24 49
6.60% Retail Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022 4/1/2006 100.000 — — — — — 250 250
1.75% Convertible Senior Notes . . . . . . . . . . . . . . . . . . . . . . . . . . 2023 — — — — — 770 770
6.0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2028 — — — — — 300 300
6.45% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2032 — — — — — 350 350
6.60% Retail Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2038 3/11/2004 100.000 — — — — — 200 200
Subtotal, Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 505 5 115 305 3,544 4,479
Accounts Receivable Securitization . . . . . . . . . . . . . . . . . . . . . . . . . 2005 — 300 — — — — 300
6.75% Preferred Stock Series X, Maturing Serially . . . . . . . . . . . . . . . 2004-2015 2 2 2 2 2 15 25
7.20% Trust Preferred Securities Series A . . . . . . . . . . . . . . . . . . . . . 2037 100.000 — — — — — 360 360
7.20% Trust Preferred Securities Series B . . . . . . . . . . . . . . . . . . . . . 2039 6/30/2004 100.000 — — — — — 258 258
Other Duke Energy Corporation Unconsolidated Debt . . . . . . . . . . . . . Various 1 2 2 2 2 20 29
Commercial Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 150 150
Fair Value Hedge Carrying Value Adjustment . . . . . . . . . . . . . . . . . . . — — 6 — — 39 45
Unamortized Debt Discount/Premium . . . . . . . . . . . . . . . . . . . . . . . . — (19 ) (9 ) (6 ) (3 ) (18 ) (55 )
Subtotal, Duke Energy Corporation Unconsolidated . . . . . . . . . . . . . 8 790 6 113 806 5,255 6,978
DUKE CAPITAL LLC UNCONSOLIDATED
Notes:
a Floating Rate Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2004 100.000 100 — — — — — 100
7.25% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2004 500 — — — — — 500
6.25% Note A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2005 — 250 — — — — 250
4.32% (Component of Equity Units) . . . . . . . . . . . . . . . . . . . . . . . 2006 — — 750 — — — 750
5.87% (Component of Equity Units) . . . . . . . . . . . . . . . . . . . . . . . 2006 — — 875 — — — 875
7.50% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009 — — — — — 500 500
6.25% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2013 — — — — — 500 500
6.75% Note B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2018 — — — — — 150 150
8.0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2019 — — — — — 500 500
6.75% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2032 — — — — — 250 250
Subtotal, Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600 250 1,625 — — 1,900 4,375
8.375% Trust Preferred Securities Series C . . . . . . . . . . . . . . . . . . . . 2029 8/31/2004 100.000 — — — — — 258 258
Duke/Fluor Daniel Loan (Floating Rate) . . . . . . . . . . . . . . . . . . . . . . 78 — — — — — 78
Fair Value Hedge Carrying Value Adjustment . . . . . . . . . . . . . . . . . . . — — — — — 35 35
Subtotal, Duke Capital LLC Unconsolidated . . . . . . . . . . . . . . . . . . . . 678 250 1,625 — — 2,193 4,746
a Private Placement
12 Consolidated Data