Other Comprehensive Income

12 Months Ended

Dec. 31, 2012

Other Comprehensive Income

10. Other Comprehensive Income

TECO Energy reported the following OCI (loss) for the years ended Dec. 31, 2012, 2011 and 2010, related to changes in the fair value of cash flow hedges and amortization of unrecognized benefit costs associated with the company’s pension plans:

Other Comprehensive Income
(millions)		Gross			Tax			Net
2012
Unrealized gain (loss) on cash flow hedges	$	(7.4	)	$	2.8		$	(4.6)
Reclassification from AOCI to net income		0.6			(0.2	)		0.4
Gain (Loss) on cash flow hedges		(6.8	)		2.6			(4.2)
Amortization of unrecognized benefit costs and other (1)		(4.8	)		0.0			(4.8)
Total other comprehensive (loss) income	$	(11.6	)	$	2.6		$	(9.0)
2011
Unrealized gain (loss) on cash flow hedges	$	1.8		$	(0.6	)	$	1.2
Reclassification from AOCI to net income		(3.1	)		1.1			(2.0)
Gain (Loss) on cash flow hedges		(1.3	)		0.5			(0.8)
Amortization of unrecognized benefit costs and other		(7.9	)		3.3			(4.6)
Recognized benefit costs due to settlement		0.9			(0.3	)		0.6
Total other comprehensive (loss) income	$	(8.3	)	$	3.5		$	(4.8)
2010
Unrealized gain (loss) on cash flow hedges	$	1.0		$	(0.4	)	$	0.6
Reclassification from AOCI to net income		3.9			(1.4	)		2.5
Gain (Loss) on cash flow hedges		4.9			(1.8	)		3.1
Amortization of unrecognized benefit costs and other		3.7			0.0			3.7
Recognized benefit costs due to settlement		1.7			(0.7	)		1.0
Total other comprehensive income (loss)	$	10.3		$	(2.5	)	$	7.8
Accumulated Other Comprehensive Loss
(millions) As of Dec. 31,		2012						2011
Unrecognized pension losses and prior service credits (2)	$	(32.9	)				$	(31.2)
Unrecognized other benefit gains, prior service costs and transition obligations (3)		11.1						14.2
Net unrealized losses from cash flow hedges (4)		(9.2	)					(5.0)
Total accumulated other comprehensive loss	$	(31.0	)				$	(22.0	)

(1) Tax amounts include adjustments made related to Medicare Part D and changes to retirement plan. See Note 5 for further discussion.

(2) Net of tax benefit of $20.1 million and $19.6 million as of Dec. 31, 2012 and Dec. 31, 2011, respectively.

(3) Net of tax expense of $6.7 million and $6.2 million as of Dec. 31, 2012 and Dec. 31, 2011, respectively.

(4) Net of tax benefit of $5.8 million and $3.2 million as of Dec. 31, 2012 and Dec. 31, 2011, respectively.

TAMPA ELECTRIC CO [Member]

Other Comprehensive Income

9. Other Comprehensive Income

TEC reported the following OCI (loss) for the years ended Dec. 31, 2012, 2011 and 2010, related to changes in the fair value of cash flow hedges and amortization of unrecognized benefit costs associated with the company’s pension plans:

Other Comprehensive Income
(millions)	Gross		Tax		Net
2012
Unrealized gain (loss) on cash flow hedges		($8.0)		$3.1		($4.9)
Reclassification from AOCI to net income		1.4		(0.6)		0.8
Gain (Loss) on cash flow hedges		(6.6)		2.5		(4.1)
Total other comprehensive (loss) income		($6.6)		$2.5		($4.1)
2011
Unrealized gain (loss) on cash flow hedges		$0.0		$0.0		$0.0
Reclassification from AOCI to net income		1.2		(0.5)		0.7
Gain (Loss) on cash flow hedges		1.2		(0.5)		0.7
Total other comprehensive (loss) income		$1.2		($0.5)		$0.7
2010
Unrealized gain (loss) on cash flow hedges		$0.0		$0.0		$0.0
Reclassification from AOCI to net income		1.2		(0.4)		0.8
Gain (Loss) on cash flow hedges		1.2		(0.4)		0.8
Total other comprehensive income (loss)		$1.2		($0.4)		$0.8
Accumulated Other Comprehensive Loss
(millions) As of Dec. 31,		2012				2011
Net unrealized losses from cash flow hedges (4)		($8.7)				($4.6)
Total accumulated other comprehensive loss		($8.7)				($4.6)

(1) Net of tax benefit of $5.5 million and $2.9 million as of Dec. 31, 2012 and Dec. 31, 2011, respectively.