Duke Energy Corporation provided reconciliations of non-GAAP financial measures (ongoing earnings) to the most directly comparable GAAP measures (reported earnings) for the second quarter and first half of 2006 and 2007. Special items were excluded from ongoing earnings and included in total adjustments to reconcile to reported earnings. Management believes special items will not recur regularly.
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Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
when will pi network coin be available on crypto exchange.
duke energy 2Q 07_RegG
1. Duke Energy Corporation
Non-GAAP Reconciliations
Second Quarter 2007 Earnings Review
August 7, 2007
Ongoing Diluted Earnings per Share (“EPS”)
The slides and prepared remarks for Duke Energy Corporation’s (“Duke Energy”) Second
Quarter 2007 Earnings Review include a discussion of ongoing diluted EPS for the three and six
month periods ended June 30, 2007 and 2006. Ongoing diluted EPS is a non-GAAP financial
measure as it represents diluted EPS from continuing operations, adjusted for the per-share
impact of special items. Special items represent certain charges and credits which management
believes will not be recurring on a regular basis. The most directly comparable GAAP measure
for ongoing diluted EPS is reported diluted EPS from continuing operations which includes the
impact of special items.
2007 Employee EPS Incentive Target Measure
The slides and prepared remarks for Duke Energy’s Second Quarter 2007 Earnings Review
include a discussion of management’s current belief that, given the results for the six months
ended June 30, 2007 and with normal weather the rest of the year and a continuing focus on
operations and cost management, Duke Energy is in a strong position to exceed the company’s
2007 employee EPS incentive target of $1.15. The EPS measure used for employee incentive
bonuses is based on ongoing diluted EPS. Ongoing diluted EPS is a non-GAAP financial
measure as it represents diluted EPS from continuing operations, adjusted for the per-share
impact of special items. Special items represent certain charges and credits which management
believes will not be recurring on a regular basis. The most directly comparable GAAP measure
for ongoing diluted EPS is reported diluted EPS from continuing operations, which includes the
impact of special items. Due to the forward-looking nature of this non-GAAP financial measure,
information to reconcile it to the most directly comparable GAAP financial measure is not
available at this time, as management is unable to forecast special items for future periods.
The discussion of the company's 2007 employee EPS incentive target of $1.15 also includes a
reference to management’s expectation for earnings, on a normalized basis, in the second half of
the year to be greater than the first half of the year, as well as a reference to the third quarter
representing the strongest quarter, contributing roughly one-third of total ongoing earnings for
the year. These references are to ongoing diluted EPS. Ongoing diluted EPS is a non-GAAP
financial measure as it represents diluted EPS from continuing operations, adjusted for the per-
share impact of special items. Special items represent certain charges and credits which
management believes will not be recurring on a regular basis. The most directly comparable
GAAP measure for ongoing diluted EPS is reported diluted EPS from continuing operations,
which includes the impact of special items. Due to the forward-looking nature of this non-GAAP
financial measure, information to reconcile seasonality expectations regarding ongoing diluted
EPS to seasonality expectations for the most directly comparable GAAP financial measure is not
available at this time, as management is unable to forecast special items for future periods.
2. Ongoing Segment and Other EBIT
The slides and prepared remarks for Duke Energy’s Second Quarter 2007 Earnings Review
include a discussion of ongoing segment EBIT, including diluted-EPS-equivalent amounts, and
ongoing Other EBIT, for certain periods. Also included in the prepared remarks is a reference to
management’s current expectation that the Midwest gas-fired generation assets will have
ongoing EBIT losses of about one-half of the original projected 2007 ongoing EBIT losses of
$60 million for this component of the Commercial Power segment, and the current expectation
that the Midwest gas-fired generation assets will reach their break-even point by 2009, on an
ongoing EBIT basis. Ongoing segment and Other EBIT are non-GAAP financial measures as
they represent reported segment and Other EBIT adjusted for special items. Special items
represent certain charges and credits which management believes will not be recurring on a
regular basis. The most directly comparable GAAP measures for ongoing segment and Other
EBIT are reported segment and Other EBIT, which represent EBIT from continuing operations,
including any special items. Due to the forward-looking nature of this non-GAAP financial
measure for any future periods, information to reconcile it to the most directly comparable
GAAP financial measure is not available at this time, as management is unable to forecast
special items for future periods.
Ongoing Diluted EPS Growth Rates through 2009
The slides and prepared remarks for Duke Energy’s Second Quarter 2007 Earnings Review
include a discussion of the expected range of growth in ongoing diluted EPS through 2009.
These percentages are based on anticipated ongoing diluted EPS amounts for future periods. This
ongoing diluted EPS measure is a non-GAAP financial measure as it represents diluted EPS from
continuing operations, adjusted for the impact of special items. Special items represent certain
charges and credits which management believes will not be recurring on a regular basis. The
most directly comparable GAAP measure for ongoing diluted EPS is reported diluted EPS from
continuing operations which includes the impact of special items. Due to the forward-looking
nature of ongoing diluted EPS, and related growth rates, for future periods, information to
reconcile such non-GAAP financial measure to the most directly comparable GAAP financial
measure is not available at this time, as management is unable to forecast any special items for
future periods.
3. DUKE ENERGY CORPORATION
ONGOING TO REPORTED EARNINGS RECONCILIATION
June 2006 Quarter-to-date
(Dollars in millions, except per-share amounts)
Special Items (Note 1)
Costs to Impairment of
Ongoing Achieve, Cinergy Campeche Discontinued Total Reported
Earnings Merger Investment Operations Adjustments Earnings
SEGMENT EARNINGS BEFORE INTEREST AND TAXES
FROM CONTINUING OPERATIONS
U.S. Franchised Electric and Gas $ 351 $ - $ - $ - $ - $ 351
Commercial Power 20 - - - - 20
International Energy 79 - (55) B - (55) 24
Crescent 174 - - - - 174
Total reportable segment EBIT 624 - (55) - (55) 569
Other (77) (74) A - - (74) (151)
Total reportable segment EBIT and Other EBIT $ 547 $ (74) $ (55) $ - $ (129) $ 418
Interest Expense (185) - - - - (185)
Interest Income and Other 14 - - - - 14
Income Taxes from Continuing Operations (77) 26 - - 26 (51)
Discontinued Operations, net of taxes - - - 159 C,D 159 159
Net Income $ 299 $ (48) $ (55) $ 159 $ 56 $ 355
$ 0.24 $ (0.04) $ (0.04) $ 0.13 $ 0.05 $ 0.29
EARNINGS PER SHARE, BASIC
$ 0.24 $ (0.04) $ (0.04) $ 0.12 $ 0.04 $ 0.28
EARNINGS PER SHARE, DILUTED
Note 1 - Amounts for special items are presented net of any related minority interest.
A - Recorded in Operation, maintenance and other (Operating Expenses) on the Consolidated Statements of Operations.
B - $38 million recorded in Operation, maintenance and other (Operating Expenses) and $17 million recorded in Losses on sales and impairments of equity
investments (Other Income and Expenses) on the Consolidated Statements of Operations.
C - Excludes Crescent discontinued operations.
D - Primarily amounts reclassified to discontinued operations due to the January 2007 spin-off of Spectra Energy, net of amounts for DENA. Recorded in (Loss) Income From
Discontinued Operations, net of tax on the Consolidated Statements of Operations.
Weighted Average Shares (reported and ongoing) - in millions
Basic 1,238
Diluted 1,259
4. DUKE ENERGY CORPORATION
ONGOING TO REPORTED EARNINGS RECONCILIATION
June 2006 Year-to-date
(Dollars in millions, except per-share amounts)
Special Items (Note 1)
Costs to Impairment of
Ongoing Achieve, Campeche Discontinued Total Reported
Earnings Cinergy Merger Investment Operations Adjustments Earnings
SEGMENT EARNINGS BEFORE INTEREST AND TAXES
FROM CONTINUING OPERATIONS
U.S. Franchised Electric and Gas $ 710 $ - $ - $ - $ - $ 710
Commercial Power (7) - - - - (7)
International Energy 165 - (55) B - (55) 110
Crescent 216 - - - - 216
Total reportable segment EBIT 1,084 - (55) - (55) 1,029
Other (126) (78) A - - (78) (204)
Total reportable segment EBIT and Other EBIT $ 958 $ (78) $ (55) $ - $ (133) $ 825
Interest Expense (288) - - - - (288)
Interest Income and Other 21 - - - - 21
Income Taxes from Continuing Operations (186) 27 - - 27 (159)
Discontinued Operations, net of taxes - - - 314 C,D 314 314
Net Income $ 505 $ (51) $ (55) $ 314 $ 208 $ 713
$ 0.47 $ (0.05) $ (0.05) $ 0.29 $ 0.19 $ 0.66
EARNINGS PER SHARE, BASIC
$ 0.46 $ (0.05) $ (0.05) $ 0.28 $ 0.18 $ 0.64
EARNINGS PER SHARE, DILUTED
Note 1 - Amounts for special items are presented net of any related minority interest.
A - Recorded in Operation, maintenance and other (Operating Expenses) on the Consolidated Statements of Operations.
B - $38 million recorded in Operation, maintenance and other (Operating Expenses) and $17 million recorded in Losses on sales and impairments of equity
investments (Other Income and Expenses) on the Consolidated Statements of Operations.
C - Excludes Crescent discontinued operations.
D - Primarily amounts reclassified to discontinued operations due to the January 2007 spin-off of Spectra Energy, net of amounts for DENA. Recorded in (Loss) Income From
Discontinued Operations, net of tax on the Consolidated Statements of Operations.
Weighted Average Shares (reported and ongoing) - in millions
Basic 1,083
Diluted 1,111
5. DUKE ENERGY CORPORATION
ONGOING TO REPORTED EARNINGS RECONCILIATION
June 2007 Quarter-to-date
(Dollars in millions, except per-share amounts)
Special Items (Note 1)
Costs to
Ongoing Achieve, Cinergy IT Severance Discontinued Total Reported
Earnings Merger Costs Operations Adjustments Earnings
SEGMENT EARNINGS BEFORE INTEREST AND TAXES
FROM CONTINUING OPERATIONS
U.S. Franchised Electric and Gas $ 452 $ - $ - $ - $ - $ 452
Commercial Power 35 - - - - 35
International Energy 97 - - - - 97
Crescent 17 - - - - 17
Total reportable segment EBIT 601 - - - - 601
Other (42) (12) A (12) A - (24) (66)
Total reportable segment and Other EBIT $ 559 $ (12) $ (12) $ - $ (24) $ 535
Interest Expense (160) - - - - (160)
Interest Income and Other 47 - - - - 47
Income Taxes from Continuing Operations (127) 4 4 - 8 (119)
Discontinued Operations, net of taxes - - - (10) B (10) (10)
Net Income $ 319 $ (8) $ (8) $ (10) $ (26) $ 293
$ 0.25 $ (0.01) $ (0.01) $ 0.23
$ - $ (0.02)
EARNINGS PER SHARE, BASIC
$ 0.25 $ (0.01) $ (0.01) $ 0.23
$ - $ (0.02)
EARNINGS PER SHARE, DILUTED
Note 1 - Amounts for special items are presented net of any related minority interest.
A - Recorded in Operation, maintenance and other (Operating Expenses) on the Consolidated Statements of Operations.
B - Recorded in (Loss) Income From Discontinued Operations, net of tax on the Consolidated Statements of Operations.
Weighted Average Shares (reported and ongoing) - in millions
Basic 1,260
Diluted 1,267
6. DUKE ENERGY CORPORATION
ONGOING TO REPORTED EARNINGS RECONCILIATION
June 2007 Year-to-date
(Dollars in millions, except per-share amounts)
Special Items (Note 1)
Costs to
Convertible Achieve,
Ongoing Debt Costs, Gas Cinergy IT Severance Discontinued Total Reported
Earnings Spin-off Merger Costs Operations Adjustments Earnings
SEGMENT EARNINGS BEFORE INTEREST AND TAXES
FROM CONTINUING OPERATIONS
U.S. Franchised Electric and Gas $ 1,026 $ - $ - $ - $ - $ - $ 1,026
Commercial Power 26 - - - - - 26
International Energy 191 - - - - - 191
Crescent 19 - - - - - 19
Total reportable segment EBIT 1,262 - - - - - 1,262
Other (94) (21) B (23) A (12) A - (56) (150)
Total reportable segment and Other EBIT $ 1,168 $ (21) $ (23) $ (12) $ - $ (56) $ 1,112
Interest Expense (324) - - - - - (324)
Interest Income and Other 88 - - - - - 88
Income Taxes from Continuing Operations (236) - 8 4 - 12 (224)
Discontinued Operations, net of taxes - - - - (2) C (2) (2)
Net Income $ 696 $ (21) $ (15) $ (8) $ (2) $ (46) $ 650
$ 0.56 $ (0.02) $ (0.01) $ (0.01) $ 0.52
$ - $ (0.04)
EARNINGS PER SHARE, BASIC
$ 0.55 $ (0.02) $ (0.01) $ (0.01) $ 0.51
$ - $ (0.04)
EARNINGS PER SHARE, DILUTED
Note 1 - Amounts for special items are presented net of any related minority interest.
A - Recorded in Operation, maintenance and other (Operating Expenses) on the Consolidated Statements of Operations.
B - Recorded in Other income and expenses, net (Other Income and Expenses, net) on the Consolidated Statements of Operations.
C - Recorded in (Loss) Income From Discontinued Operations, net of tax on the Consolidated Statements of Operations
Weighted Average Shares (reported and ongoing) - in millions
Basic 1,259
Diluted 1,267
7. Duke Energy Corporation
Reported and Ongoing Segment EBIT - EPS Equivalents
Second Quarter 2007 vs. 2006
(in millions, except per-share amounts)
Reported Ongoing
2Q 2Q Tax EPS 2Q 2Q Tax EPS
Segment 2007 2006 Difference Effect Impact 2007 2006 Difference Effect Impact
U.S. Franchised Electric and Gas $ 452 $ 351 $ 101 $ (39) $0.05 $ 452 $ 351 $ 101 $ (39) $0.05
Commercial Power 35 20 15 (6) 0.01 35 20 15 (6) 0.01
International Energy 97 24 73 (5) (b) 0.05 97 79 (a) 18 (5) 0.01
Subtotal 584 395 189 0.11 584 450 134 0.07
Crescent 17 174 (157) 58 (0.08) 17 174 (157) 58 (0.08)
Total Reportable Segments $ 601 $ 569 $ 32 $0.03 $ 601 $ 624 $ (23) $ (0.01)
Notes
(a) Different between reported amount of $24 million and ongoing amount of $79 million represents 2006 impairment of Campeche investment of $55 million.
(b) Tax effect reflects non-deductibility of $55 million Campeche impairment discussed in note (a) above.
8. Duke Energy Corporation
Net Cash Balance Reconciliation
As of June 30, 2007
(in millions)
Cash and Cash Equivalents $611
Short-Term Investments 1,022
Subtotal 1,633
Short-term Commercial Paper Outstanding (a) (729)
Net Cash Balance (b) $904 (Approximately $900)
(a) Excludes approximately $300 million of commercial paper that is classified as long-
term debt due to Duke Energy's intent and ability to utilize such obligations as long-
term financing.
(b) The net cash balance presented is a non-GAAP financial measure as it represents the
net presentation of cash and cash equivalents, short-term investments, and short-
term outstanding commercial paper balances. The most directly comparable GAAP
financial measure for net cash is cash and cash equivalents.