|
| Consolidated Statements of Common Stockholders’ Equity and Comprehensive Income (Loss) | Return |
| Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||
| (In millions) | Common Stock Shares | Common Stock | Retained Earnings | Foreign Currency Adjustments | Net Gains (Losses) on Cash Flow Hedges | Minimum Pension Liability Adjustment | Other | Total | ||||||||||||||||
| Balance December 31, 2002 | 895 | $ | 9,236 | $ | 6,417 | $ | (647) | $ | 422 | $ | (484) | $ | — | $ | 14,944 | |||||||||
| Net loss | (1,323 | ) | (1,323 | ) | ||||||||||||||||||||
| Other comprehensive loss |
||||||||||||||||||||||||
| Foreign currency translation adjustmentsa |
986 | 986 | ||||||||||||||||||||||
| Foreign currency translation adjustments reclassified into earnings as a result of the sale of European operations |
(24 | ) | (24 | ) | ||||||||||||||||||||
| Net unrealized gains on cash flow hedgesb |
116 | 116 | ||||||||||||||||||||||
| Reclassification into earnings from cash flow hedgesc |
(240 | ) | (240 | ) | ||||||||||||||||||||
| Minimum pension liability adjustmentd |
40 | 40 | ||||||||||||||||||||||
| Total comprehensive loss |
(445 | ) | ||||||||||||||||||||||
| Dividend reinvestment and employee benefits |
16 | 283 | (6 | ) | 277 | |||||||||||||||||||
| Common stock dividends |
(993 | ) | (993 | ) | ||||||||||||||||||||
| Preferred and preference stock dividends |
(15 | ) | (15 | ) | ||||||||||||||||||||
| Other capital stock transactions, net |
(20 | ) | (20 | ) | ||||||||||||||||||||
| Balance December 31, 2003 | 911 | $ | 9,519 | $ | 4,060 | $ | 315 | $ | 298 | $ | (444) | $ | — | $ | 13,748 | |||||||||
| Net income | 1,490 | 1,490 | ||||||||||||||||||||||
| Other comprehensive income |
||||||||||||||||||||||||
| Foreign currency translation adjustments |
279 | 279 | ||||||||||||||||||||||
| Foreign currency translation adjustments reclassified into earnings as a result of the sale of Asia-Pacific Business |
(54 | ) | (54 | ) | ||||||||||||||||||||
| Net unrealized gains on cash flow hedgesb |
311 | 311 | ||||||||||||||||||||||
| Reclassification into earnings from cash flow hedgesc |
(83 | ) | (83 | ) | ||||||||||||||||||||
| Minimum pension liability adjustmentd |
28 | 28 | ||||||||||||||||||||||
| Total comprehensive income |
1,971 | |||||||||||||||||||||||
| Dividend reinvestment and employee benefits |
5 | 108 | 20 | 128 | ||||||||||||||||||||
| Equity offering | 41 | 1,625 | 1,625 | |||||||||||||||||||||
| Common stock dividends |
(1,018 | ) | (1,018 | ) | ||||||||||||||||||||
| Preferred and preference stock dividends |
(9 | ) | (9 | ) | ||||||||||||||||||||
| Other capital stock transactions, net |
(4 | ) | (4 | ) | ||||||||||||||||||||
| Balance December 31, 2004 | 957 | $ | 11,252 | $ | 4,539 | $ | 540 | $ | 526 | $ | (416) | $ | — | $ | 16,441 | |||||||||
| Net income | 1,824 | 1,824 | ||||||||||||||||||||||
| Other comprehensive income |
||||||||||||||||||||||||
| Foreign currency translation adjustments |
306 | 306 | ||||||||||||||||||||||
| Net unrealized gains on cash flow hedgesb |
413 | 413 | ||||||||||||||||||||||
| Reclassification into earnings from cash flow hedgesc |
(1,026 | ) | (1,026 | ) | ||||||||||||||||||||
| Minimum pension liability adjustmentd |
356 | 356 | ||||||||||||||||||||||
| Othere | 17 | 17 | ||||||||||||||||||||||
| Total comprehensive income |
1,890 | |||||||||||||||||||||||
| Dividend reinvestment and employee benefits |
3 | 41 | 44 | 85 | ||||||||||||||||||||
| Stock repurchase | (33 | ) | (933 | ) | (933 | ) | ||||||||||||||||||
| Conversion of debt | 1 | 28 | 28 | |||||||||||||||||||||
| Common stock dividends |
(1,093 | ) | (1,093 | ) | ||||||||||||||||||||
| Preferred and preference stock dividends |
(12 | ) | (12 | ) | ||||||||||||||||||||
| Other capital stock transactions, net |
33 | 33 | ||||||||||||||||||||||
| Balance December 31, 2005 | 928 | $ | 10,388 | $ | 5,335 | $ | 846 | $ | (87) | $ | (60) | $ | 17 | $ | 16,439 | |||||||||
a Foreign currency translation adjustments, net of $62 tax benefit in 2005 and $114 tax benefit in 2003. The 2005 tax benefit related to the settled net investment hedges (see Note 8). Substantially all of the 2005 tax benefit is an immaterial correction of an accounting error related to prior periods.
b Net unrealized gains on cash flow hedges, net of $233 tax expense in 2005, $170 tax expense in 2004, and $49 tax expense in 2003.
c Reclassification into earnings from cash flow hedges, net of $583 tax benefit in 2005, $45 tax benefit in 2004, and $130 tax benefit in 2003. Reclassification into earnings from cash flow hedges for the year ended December 31, 2005, is due primarily to the recognition of Duke Energy North America’s (DENA’s) unrealized net gains related to hedges on forecasted transactions which will no longer occur as a result of the plan to sell or otherwise dispose of substantially all of DENA’s assets and contracts outside of the Midwestern United States and certain contractual positions related to the Midwestern assets (see Notes 8 and 13).
d Minimum pension liability adjustment, net of $228 tax expense in 2005, $18 tax expense in 2004, and $27 tax expense in 2003.
eNet of $10 tax expense in 2005.
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