Related Party Transactions with Duke Energy (Tables)

2 Months Ended

Dec. 31, 2016

The following table presents amounts due from or due to Duke Energy that are included in "Receivables from affiliated companies" within "Current Assets" and "Accounts payable to affiliated companies" within "Current Liabilities" on the Condensed Consolidated Balance Sheets as of December 31, 2016 and October 31, 2016.



	December 31,		October 31,
(in millions)	2016		2016
Receivables from Duke Energy	$	7.2	$	7.0
Accounts payable to Duke Energy	8.1		6.3

The following financial information reflects amounts for the two months ended December 31, 2016 and 2015 related to transactions, assuming the Acquisition had taken place November 1, 2015.



(in millions)	2016		2015
Revenue from Duke Energy ⁽¹⁾	$	13.5	$	13.4
Corporate governance and shared service expenses ⁽²⁾	1.6

⁽¹⁾ We provide long-term natural gas delivery service to several of Duke Energy's subsidiaries' natural gas-fired power generation facilities in our market area. This intercompany profit on sales is not eliminated in accordance with accounting regulations prescribed under rate-based regulation, as discussed in Note 1.
⁽²⁾ We are charged our proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. Certain Piedmont executives are responsible for all of Duke Energy's natural gas operations and related infrastructure. A proportionate share of these individuals' payroll and employee benefits is charged to Duke Energy's subsidiary registrants. These amounts are recorded in "Operations, maintenance and other" in the Condensed Consolidated Statements of Operations and Comprehensive Income.