Segment Information

9 Months Ended

Sep. 30, 2016

Segment Information

9. 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)				Eliminations			Energy
2016
Revenues - external	$	585.1	$	103.3	$	35.7			$	0.0		$	2.6			$	0.0		$	726.7
Sales to affiliates		0.8		0.4		0.0				0.0			0.1				(1.3	)		0.0
Total revenues		585.9		103.7		35.7				0.0			2.7				(1.3	)		726.7
Total interest charges		22.4		3.7		2.8				0.0			15.2				(0.2	)		43.9
Net income (loss) from continuing operations		94.1		6.5		(19.8	)	(5)		0.0			(11.4	)	(5)		0.0			69.4
Income (loss) from discontinued operations, net (1)		0.0		0.0		0.0				0.0			0.0				0.0			0.0
Net income (loss)	$	94.1	$	6.5	$	(19.8	)		$	0.0		$	(11.4	)		$	0.0		$	69.4
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
Total interest charges		24.1		3.7		3.2				0.0			15.4				(0.3	)		46.1
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

(millions)	Tampa		Peoples		New Mexico				TECO											TECO
Nine months ended Sept. 30,	Electric		Gas		Gas Co. (2)				Coal (1)			Other (2)				Eliminations				Energy
2016
Revenues - external	$	1,506.6	$	330.0	$	194.0			$	0.0		$	7.9			$	0.0			$	2,038.5
Sales to affiliates		3.0		6.8		0.0				0.0			0.1				(9.9	)			0.0
Total revenues		1,509.6		336.8		194.0				0.0			8.0				(9.9	)			2,038.5
Total interest charges		68.8		11.1		9.1				0.0			45.3				(0.7	)			133.6
Net income (loss) from continuing operations		212.9		26.7		(4.8	)	(5)		0.0			(86.2	)	(5)		0.0				148.6
Income (loss) from discontinued operations, net (1)		0.0		0.0		0.0				0.0			(0.1	)			0.0				(0.1	)
Net income (loss)	$	212.9	$	26.7	$	(4.8	)		$	0.0		$	(86.3	)		$	0.0			$	148.5
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
Total interest charges		71.2		10.8		9.8				0.0			49.6				(1.0	)			140.4
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
At Sept. 30, 2016
Total assets	$	7,244.9	$	1,161.5	$	1,230.4			$	0.0		$	2,031.8			$	(2,444.9	)	(4)	$	9,223.7
At Dec. 31, 2015
Total assets (3)	$	7,003.8	$	1,136.1	$	1,229.7			$	0.0		$	1,945.1			$	(2,381.2	)	(4)	$	8,933.5
(1)    All periods have been adjusted to reflect the results from 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.
(4)    Amounts primarily relate to consolidated tax reclassifications.
(5)    Includes transaction costs associated with the Merger with Emera. See Note 14.

Tampa Electric Company [Member]

Segment Information

9. Segment Information

(millions)	Tampa									Tampa Electric
Three months ended Sept. 30,	Electric		PGS		Eliminations					Company
2016
Revenues - external	$	585.9	$	103.2	$	0.0				$	689.1
Intracompany sales		0.0		0.5		(0.5	)				0.0
Total revenues		585.9		103.7		(0.5	)				689.1
Total interest charges		22.4		3.7		0.0					26.1
Net income	$	94.1	$	6.5	$	0.0				$	100.6
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
Total interest charges		24.1		3.7		0.0					27.8
Net income	$	82.1	$	6.2	$	0.0				$	88.3
Nine months ended Sept. 30,
2016
Revenues - external	$	1,508.9	$	330.0	$	0.0				$	1,838.9
Intracompany sales		0.7		6.8		(7.5	)				0.0
Total revenues		1,509.6		336.8		(7.5	)				1,838.9
Total interest charges		68.8		11.1		(0.1	)				79.8
Net income	$	212.9	$	26.7	$	0.0				$	239.6
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
Total interest charges		71.2		10.8		0.0					82.0
Net income	$	198.0	$	28.4	$	0.0				$	226.4
Total assets at Sept. 30, 2016	$	7,244.9	$	1,161.5	$	(452.6	)	(2	)	$	7,953.8
Total assets at Dec. 31, 2015 (1)	$	7,003.8	$	1,136.1	$	(431.3	)	(2	)	$	7,708.6

(1) Certain prior year amounts have been reclassified to conform to current year presentation.

(2) Amounts relate to consolidated tax reclassifications.