Business Context and Reporting Period
This Form 8-K is a current report filed by Duke Energy Corporation on March 2, 2012. The filing addresses Item 9.01, specifically the submission of financial statements and exhibits related to the acquisition of Progress Energy, Inc.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references the following documents where such data is located:
- Duke Energy Corporation: Consolidated financial statements for the years ended December 31, 2011, 2010, and 2009 are contained in the Company's Annual Report on Form 10-K filed on February 28, 2012.
- Progress Energy, Inc.: Audited consolidated financial statements for the years ended December 31, 2011, 2010, and 2009 are attached as Exhibit 99.1.
- Pro Forma Information: Unaudited pro forma condensed combined consolidated financial information for the year ended December 31, 2011 is attached as Exhibit 99.2.
Material Changes
The filing indicates a material change in the company's structure through the acquisition of Progress Energy, Inc. The report incorporates by reference the audited financial statements of Progress Energy, Inc., including its wholly-owned subsidiaries Carolina Power & Light Company (PEC) and Florida Power Corporation (PEF).
Guidance, Outlook, and Risks
The filing text does not contain management commentary, forward-looking guidance, specific risk factors, or contingencies. It serves strictly as a vehicle to file the required financial exhibits and the consent of the independent registered public accounting firm, Deloitte & Touche LLP.
Investor Verification Checklist
- Review Duke Energy's Form 10-K (filed February 28, 2012) for the registrant's standalone financial performance.
- Examine Exhibit 99.1 for the audited financial statements of Progress Energy, Inc. for the years 2009 through 2011.
- Analyze Exhibit 99.2 for the unaudited pro forma combined financial information for the year ended December 31, 2011, to understand the combined entity's financial position.
- Verify the consent of Deloitte & Touche LLP (Exhibit 23.1) regarding the financial statements of Progress Energy, Inc.