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Notes to Consolidated Financial Statements for the
Years Ended December 31, 2001, 2000 and 1999

19. QUARTERLY FINANCIAL DATA (UNAUDITED)

1.

Summary of Significant Accounting Policies
2.

Business Acquisitions and Dispositions
3.

Business Segments
4.

Regulatory Matters
5. Joint Ownership of Generating Facilities
6. Income Taxes
7. Derivative Instruments, Hedging Activities and Credit Risk
8. Investment in Affiliates and Related Party Transactions
9. Property, Plant and Equipment
10. Debt and Credit Facilities
11. Nuclear Decommissioning Costs
12. Guaranteed Preferred Beneficial Interests in Subordinated Notes of Duke Energy or Subsidiaries
13. Minority Interest Financing
14. Preferred and Preference Stock
15. Commitments and Contingencies
16. Common Stock and Equity Offerings
17. Stock-Based Compensation
18. Employee Benefit Plans

19.

Quarterly Financial Data (Unaudited)
20. Subsequent Event
In millions, except per-share data First
Quarter		 Second
Quarter		 Third
Quarter		 Fourth
Quarter		 Total

2001		                                
Operating revenues   $ 16,491   $ 15,580   $ 16,718   $ 10,714   $ 59,503  
Operating income     1,182     880     1,492     546     4,100  
EBIT     1,254     902     1,529     571     4,256  
Income before
    cumulative effect of
    change in accounting
    principle		     554     419     796     225     1,994  
Net income     458     419     796     225     1,898  
Earnings per share     (before cumulative
    effect of change in
    accounting principle)		                                
        Basic   $ 0.74   $ 0.54   $ 1.02   $ 0.29   $ 2.58  
        Diluted   $ 0.73   $ 0.53   $ 1.01   $ 0.28   $ 2.56  
Earnings per share                                
        Basic   $ 0.61   $ 0.54   $ 1.02   $ 0.29   $ 2.45  
        Diluted   $ 0.60   $ 0.53   $ 1.01   $ 0.28   $ 2.44  

2000
Operating revenues $ 7,290 $ 10,926 $ 15,691 $ 15,411 $ 49,318
Operating income 812 794 1,501 706 3,813
EBIT 859 837 1,556 762 4,014
Net income 393 329 770 284 1,776
Earnings per sharea
        Basic $ 0.53 $ 0.44 $ 1.04 $ 0.38 $ 2.39
        Diluted $ 0.53 $ 0.44 $ 1.03 $ 0.38 $ 2.38
a Restated to reflect the two-for-one common stock split effective January 26, 2001


During the fourth quarter of 2001, Duke Energy recorded a $43 million provision for non-collateralized accounting exposure to Enron, as well as a $36 million reduction in unbilled revenue receivables, resulting from a refinement in the estimates used to calculate unbilled kilowatt-hour sales.