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Duke-Energy 2005_Stat

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Duke-Energy 2005_Stat

  1. 1. 2005 Statistical Supplement
  2. 2. 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 12 Capital and Investment Expenditures 38 INTERNATIONAL ENERGY 13 Long-Term Debt 39 Segment Earnings Before Interest and Taxes 16 Capitalization 40 Segment Balance Sheets 42 Operating Statistics 17 FRANCHISED ELECTRIC 18 Segment Earnings Before Interest and Taxes 43 CRESCENT RESOURCES 19 Segment Balance Sheets 44 Segment Earnings Before Interest and Taxes 21 Operating Statistics 45 Segment Balance Sheets 47 Operating Statistics 23 NATURAL GAS TRANSMISSION 24 Segment Earnings Before Interest and Taxes 25 Segment Balance Sheets 27 Operating Statistics 1 Contents
  3. 3. 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
  4. 4. Duke Energy Corporation 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
  5. 5. Duke Energy Corporation 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
  6. 6. Duke Energy Corporation CONSOLIDATED STATEMENTS OF OPERATIONS Years ended December 31 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
  7. 7. Duke Energy Corporation 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
  8. 8. Duke Energy Corporation 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
  9. 9. Duke Energy Corporation 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
  10. 10. Duke Energy Corporation 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
  11. 11. Duke Energy Corporation CONSOLIDATED STATEMENT OF CASH FLOWS Years ended December 31 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
  12. 12. Duke Energy Corporation CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) Years ended December 31 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
  13. 13. Duke Energy Corporation CAPITAL AND INVESTMENT EXPENDITURES Years ended December 31 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
  14. 14. Duke Energy Corporation 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 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: 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
  15. 15. Duke Energy Corporation 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

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