Fourth Quarter 2023 Earnings Review and Business Update
DUKE ENERGY CORPORATION
EFFECTIVE TAX RECONCILIATION
December 2023
(Dollars in millions)
Three Months Ended
December 31, 2023
Balance
Effective Tax
Rate
Balance
Year Ended
December 31, 2023
Effective Tax
Rate
Reported Income Before Income Taxes From Continuing Operations Before Income Taxes
Regulatory Matters
$
1,257
$
4,767
(27)
84
Organizational Optimization
124
124
Noncontrolling Interests
(29)
(121)
Preferred Dividends
(14)
(106)
Pretax Income Including Noncontrolling Interests and Preferred Dividends and Excluding Special Items
$
1,311
$
4,748
Reported Income Tax Expense From Continuing Operations
$
122
9.7 %
$
438
9.2 %
Regulatory Matters
(7)
20
Organizational Optimization
29
29
Noncontrolling interest portion of income taxes( (a)
(7)
(24)
Tax Expense Including Noncontrolling Interests and Preferred Dividends and Excluding Special Items
$
137
10.5%
$
463
9.8%
Year Ended
Balance
Three Months Ended
December 31, 2022
Effective Tax
Rate
December 31, 2022
Effective Tax
Balance
Rate
Reported Income From Continuing Operations Before Income Taxes
$
638
4,078
Regulatory Settlements
200
457
Workplace and Workforce Realignment
136
136
Noncontrolling Interests
(11)
(56)
Preferred Dividends
(14)
(106)
Pretax Income Including Noncontrolling Interests and Preferred Dividends and Excluding Special Items
$
949
$
4,509
Reported Income Tax Expense From Continuing Operations
$
3
0.5%
SA
$
300
7.4 %
Regulatory Matters and Litigation
Workplace and Workforce Realignment
48
128
31
31
Noncontrolling interest portion of income taxes (a)
(2)
(10)
Tax Expense Including Noncontrolling Interests and Preferred Dividends and Excluding Special Items
$
80
8.4%
$
449
10.0 %
(a)
Income tax related to non-pass-through entities for tax purposes.View entire presentation