Segment Information

9 Months Ended

Sep. 30, 2015

Segment Information

11. Segment Information

TECO Energy is an electric and gas utility holding company with diversified activities. Segments are determined based on how management evaluates, measures and makes decisions with respect to the operations of the entity. The management of TECO Energy reports segments based on each subsidiary’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. Intercompany transactions are eliminated in the Consolidated Condensed Financial Statements of TECO Energy, but are included in determining reportable segments.  

Segment Information (1)
(millions)	Tampa		Peoples		New Mexico			TECO									TECO
Three months ended Sept. 30,	Electric		Gas		Gas Co. (2)			Coal (1)			Other (2) (3)			Eliminations (3)			Energy
2015
Revenues - external	$	559.4	$	88.1	$	43.7		$	0.0		$	2.6		$	0.0		$	693.8
Sales to affiliates		0.8		2.0		0.0			0.0			0.0			(2.8	)		0.0
Total revenues		560.2		90.1		43.7			0.0			2.6			(2.8	)		693.8
Depreciation and amortization		64.6		14.4		8.5			0.0			0.3			0.0			87.8
Total interest charges		24.1		3.7		3.2			0.0			15.4			(0.3	)		46.1
Internally allocated interest		0.0		0.0		0.0			0.0			0.3			(0.3	)		0.0
Provision (benefit) for income taxes		50.0		3.5		(1.9	)		0.0			(9.9	)		0.0			41.7
Net income (loss) from continuing operations		82.1		6.2		(2.8	)		0.0			(20.6	)		0.0			64.9
Income (loss) from discontinued operations, net (1)		0.0		0.0		0.0			(12.1	)		0.4			0.0			(11.7	)
Net income (loss)	$	82.1	$	6.2	$	(2.8	)	$	(12.1	)	$	(20.2	)	$	0.0		$	53.2
2014
Revenues - external	$	581.5	$	86.9	$	16.2		$	0.0		$	2.6		$	0.0		$	687.2
Sales to affiliates		0.3		0.0		0.0			0.0			0.1			(0.4	)		0.0
Total revenues		581.8		86.9		16.2			0.0			2.7			(0.4	)		687.2
Depreciation and amortization		61.8		13.6		2.8			0.0			0.4			0.0			78.6
Total interest charges		23.8		3.5		1.1			0.0			15.9			(1.4	)		42.9
Internally allocated interest		0.0		0.0		0.0			0.0			1.9			(1.9	)		0.0
Provision (benefit) for income taxes		48.5		3.0		(0.5	)		0.0			(17.3	)		0.0			33.7
Net income (loss) from continuing operations		79.7		4.8		(0.9	)		0.0			(10.6	)		0.0			73.0
Income (loss) from discontinued operations, net (1)		0.0		0.0		0.0			(64.8	)		2.9			0.0			(61.9	)
Net income (loss)	$	79.7	$	4.8	$	(0.9	)	$	(64.8	)	$	(7.7	)	$	0.0			11.1

(millions)	Tampa		Peoples		New Mexico			TECO									TECO
Nine months ended Sept. 30,	Electric		Gas		Gas Co. (2)			Coal (1)			Other (2) (3)			Eliminations (3)			Energy
2015
Revenues - external	$	1,540.8	$	302.0	$	216.7		$	0.0		$	7.9		$	0.0		$	2,067.4
Sales to affiliates		2.4		4.5		0.0			0.0			0.1			(7.0	)		0.0
Total revenues		1,543.2		306.5		216.7			0.0			8.0			(7.0	)		2,067.4
Depreciation and amortization		191.5		42.3		25.3			0.0			1.2			0.0			260.3
Total interest charges		71.2		10.8		9.8			0.0			49.6			(1.0	)		140.4
Internally allocated interest		0.0		0.0		0.0			0.0			1.0			(1.0	)		0.0
Provision (benefit) for income taxes		116.3		17.5		7.1			0.0			(18.8	)		0.0			122.1
Net income (loss) from continuing operations		198.0		28.4		11.0			0.0			(47.2	)		0.0			190.2
Income (loss) from discontinued operations, net (1)		0.0		0.0		0.0			(69.6	)		2.4			0.0			(67.2	)
Net income (loss)	$	198.0	$	28.4	$	11.0		$	(69.6	)	$	(44.8	)	$	0.0		$	123.0
2014
Revenues - external	$	1,546.9	$	300.0	$	16.2		$	0.0		$	7.8		$	0.0		$	1,870.9
Sales to affiliates		0.8		0.6		0.0			0.0			0.1			(1.5	)		0.0
Total revenues		1,547.7		300.6		16.2			0.0			7.9			(1.5	)		1,870.9
Depreciation and amortization		185.6		40.3		2.8			0.0			1.3			0.0			230.0
Total interest charges		69.1		10.3		1.1			0.0			46.4			(3.7	)		123.2
Internally allocated interest		0.0		0.0		0.0			0.0			3.7			(3.7	)		0.0
Provision (benefit) for income taxes		112.2		17.0		(0.5	)		0.0			(30.7	)		0.0			98.0
Net income (loss) from continuing operations		187.1		26.9		(0.9	)		0.0			(34.1	)		0.0			179.0
Income (loss) from discontinued operations, net (1)		0.0		0.0		0.0			(65.6	)		6.2			0.0			(59.4	)
Net income (loss)	$	187.1	$	26.9	$	(0.9	)	$	(65.6	)	$	(27.9	)	$	0.0		$	119.6
At Sept. 30, 2015
Total assets	$	6,804.2	$	1,099.0	$	1,188.7		$	0.0		$	5,819.6		$	(6,094.6	)	$	8,816.9
At Dec. 31, 2014
Total assets	$	6,565.4	$	1,082.8	$	1,237.2		$	227.7		$	1,611.6		$	(1,998.5	)		8,726.2
(1)    All periods have been adjusted to reflect the reclassification of results from operations to discontinued operations for TECO Coal and certain charges and gains at Other, including Parent and TECO Diversified, that directly relate to TECO Coal and TECO Guatemala. See Note 15.
(2)    NMGI is included in the Other segment.
(3)    Certain prior year amounts have been reclassified to conform to current year presentation.

Tampa Electric Company [Member]

Segment Information

9. Segment Information

(millions)	Tampa		Peoples					Tampa Electric
Three months ended Sept. 30,	Electric		Gas		Eliminations			Company
2015
Revenues - external	$	560.1	$	88.1	$	0.0		$	648.2
Intracompany sales		0.1		2.0		(2.1	)		0.0
Total revenues		560.2		90.1		(2.1	)		648.2
Depreciation and amortization		64.6		14.4		0.0			79.0
Total interest charges		24.1		3.7		0.0			27.8
Provision for income taxes		50.0		3.5		0.0			53.5
Net income		82.1		6.2		0.0			88.3
2014
Revenues - external	$	581.6	$	86.9	$	0.0		$	668.5
Intracompany sales		0.2		0.0		(0.2	)		0.0
Total revenues		581.8		86.9		(0.2	)		668.5
Depreciation and amortization		61.8		13.6		0.0			75.4
Total interest charges		23.8		3.5		0.0			27.3
Provision for income taxes		48.5		3.0		0.0			51.5
Net income	$	79.7	$	4.8	$	0.0		$	84.5
Nine months ended Sept. 30,
2015
Revenues - external	$	1,542.9	$	302.0	$	0.0		$	1,844.9
Intracompany sales		0.3		4.5		(4.8	)		0.0
Total revenues		1,543.2		306.5		(4.8	)		1,844.9
Depreciation and amortization		191.5		42.3		0.0			233.8
Total interest charges		71.2		10.8		0.0			82.0
Provision for income taxes		116.3		17.5		0.0			133.8
Net income	$	198.0	$	28.4	$	0.0		$	226.4
2014
Revenues - external	$	1,547.3	$	300.0	$	0.0		$	1,847.3
Intracompany sales		0.4		0.6		(1.0	)		0.0
Total revenues		1,547.7		300.6		(1.0	)		1,847.3
Depreciation and amortization		185.6		40.3		0.0			225.9
Total interest charges		69.1		10.3		0.0			79.4
Provision for income taxes		112.2		17.0		0.0			129.2
Net income	$	187.1	$	26.9	$	0.0		$	214.0
Total assets at Sept. 30, 2015	$	6,469.5	$	1,065.6	$	(2.6	)	$	7,532.5
Total assets at Dec. 31, 2014		6,234.4		1,047.0		(7.1	)		7,274.3