Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

11. Segment Information

Segments are determined based on how management evaluates, measures and makes decisions with respect to the operations of the entity. Management reports segments based on each segment’s contribution of revenues, net income and total assets as required by the accounting guidance for disclosures about segments of an enterprise and related information. All significant intercompany transactions are eliminated in the Consolidated Financial Statements of TEC but are included in determining reportable segments.

TEC is a public utility operating within the State of Florida and has two segments, Tampa Electric and PGS. Through its Tampa Electric division, it is engaged in the generation, purchase, transmission, distribution and sale of electric energy to approximately 826,700 customers in West Central Florida. Its PGS division is engaged in the purchase, distribution and marketing of natural gas for approximately 468,000 residential, commercial, industrial and electric power generation customers in the State of Florida.

	Tampa
(millions)	Electric		PGS		Eliminations				TEC
2022
Revenues - external	$	2,519	$	650	$	0			$	3,169
Sales to affiliates		4		6		(10	)			0
Total revenues		2,523		656		(10	)			3,169
Depreciation and amortization		389		47		0				436
Total interest charges		142		25		0				167
Provision for income taxes		94		27		0				121
Net income		458		82		0				540
Total assets		12,064		2,471		(732	)	(1)		13,803
Capital expenditures		1,099		328		0				1,427
2021
Revenues - external	$	2,170	$	525	$	0			$	2,695
Sales to affiliates		4		3		(7	)			0
Total revenues		2,174		528		(7	)			2,695
Depreciation and amortization		374		56		0				430
Total interest charges		110		20		0				130
Provision for income taxes		57		23		0				80
Net income		369		77		0				446
Total assets		10,650		2,209		(663	)	(1)		12,196
Capital expenditures		1,081		316		0				1,397
2020
Revenues - external	$	1,845	$	427	$	0			$	2,272
Sales to affiliates		4		6		(10	)			0
Total revenues		1,849		433		(10	)			2,272
Depreciation and amortization		339		45		0				384
Total interest charges		113		17		0				130
Provision for income taxes		66		16		0				82
Net income		372		52		0				424
Total assets		9,800		1,901		(653	)	(1)		11,048
Capital expenditures		1,028		333		0				1,361

(1)Amounts relate to consolidated deferred tax reclassifications. Deferred tax assets are reclassified and netted with deferred tax liabilities upon consolidation.