<PAGE>
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Amendment No. 1)
(Mark One)
[x] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended December 31, 1997 or
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from _______________ to _________________
Commission file number 1-4928
DUKE ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
North Carolina 56-0205520
(State or other jurisdiction of incorporation (I.R.S. Employer
or organization) Identification No.)
422 South Church Street, Charlotte, North Carolina 28202-1904
(Address of principal executive offices) (Zip Code)
704-594-6200
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
<TABLE>
<CAPTION>
Name of each exchange
Title of each class on which registered
------------------- -------------------
<S> <C>
Common Stock, without par value New York Stock Exchange, Inc.
6.375% Preferred Stock A, 1993 Series, par value $25 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 5 7/8% Due 2001 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 5 7/8% Series C Due 2003 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 6 1/4% Series B Due 2004 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 6 3/8% Due 2008 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 6 5/8% Series B Due 2003 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 6 3/4% Due 2025 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 6 7/8% Series B Due 2023 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 7% Due 2000 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 7% Series B Due 2000 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 7% Due 2005 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 7% Due 2033 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 7 3/8% Due 2023 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 7 1/2% Series B Due 2025 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 7 7/8% Due 2024 New York Stock Exchange, Inc.
First and Refunding Mortgage Bonds, 8% Series B Due 1999 New York Stock Exchange, Inc.
7.20% Quarterly Income Preferred Securities issued by Duke Energy Capital
Trust I and guaranteed by Duke Energy Corporation New York Stock Exchange, Inc.
</TABLE>
Securities registered pursuant to Section 12(g) of the Act:
Title of class
--------------
Preferred Stock, par value $100
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months and (2) has been subject to such filing requirements for
the past 90 days. Yes (x) No ( )
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. ( )
Estimated aggregate market value of the voting stock held by nonaffiliates of
the registrant at February 27, 1998........................$ 20,010,800,000
Number of shares of Common Stock, without par value, outstanding at
February 27, 1998...............................................360,149,391
Documents incorporated by reference:
The registrant is incorporating herein by reference certain sections of the
proxy statement relating to the 1998 annual meeting of shareholders to provide
information required by Part III, Items 10, 11, 12 and 13 of this annual report.
================================================================================
<PAGE>
DUKE ENERGY CORPORATION
Duke Energy Corporation hereby amends its Annual Report on Form 10-K for
the year ended December 31, 1997, to include Restated Financial Data Schedules
for the following periods as a result of the adoption of Statement of Financial
Accounting Standards No. 128, "Earnings Per Share":
Year Ended December 31, 1996
Year Ended December 31, 1995
Quarter Ended March 31, 1997
Quarter Ended June 30, 1997
Quarter Ended September 30, 1997
Quarter Ended March 31, 1996
Quarter Ended June 30, 1996
Quarter Ended September 30, 1996
Accordingly, the undersigned hereby amends the Exhibit Index and Exhibit 27
of its Annual Report on Form 10-K for the year ended December 31, 1997, by
deleting those items in their entirety and inserting in their place the Exhibit
Index and Exhibits 27(1) through 27(9) filed herewith. All exhibits other than
Exhibits 27(1) through 27(9) that are marked with an asterisk (*) in the Exhibit
List were filed with the registrant's Form 10-K on March 27, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
DUKE ENERGY CORPORATION
Date: April 8, 1998 By: /s/ Richard J. Osborne
-------------------------------
Richard J. Osborne
Executive Vice President and
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibits filed herewith are designated by an asterisk (*). All exhibits not
so designated are incorporated by reference to a prior filing, as indicated.
Items constituting management contracts or compensatory plans or arrangements
are designated by a double asterisk (**).
Exhibit
Number
2 - Agreement and Plan of Merger, dated as of November 24, 1996, as
amended and restated as of March 10, 1997, among registrant, Duke
Transaction Corporation and PanEnergy Corp (filed with Form 8-K dated
March 20, 1997, File No. 1-4928, as Exhibit 2(a)).
3-A - Restated Articles of Incorporation of registrant, dated June 18, 1997
(filed with Form S-8, No. 333- 29563, effective June 19, 1997, as
Exhibit 4(G)).
3-B - By-Laws of registrant, as amended (filed with Form S-8, No.
333-34655, effective August 29, 1997, as Exhibit 4(D)).
4-B-1 - First and Refunding Mortgage from registrant to Guaranty Trust
Company of New York, Trustee, dated as of December 1, 1927 (filed with
Form S-1, File No. 2-7224, effective October 15, 1947, as Exhibit
7(a)).
4-B-2 - Supplemental Indenture, dated as of March 12, 1930, supplementing
said Mortgage (filed with Form S- 1, File No. 2-7224, effective October
15, 1947, as Exhibit 7(b)).
4-B-5 - Supplemental Indenture, dated as of September 1, 1936, supplementing
said Mortgage (filed with Form S-1, File No. 2-7224, effective October
15, 1947, as Exhibit 7(e)).
4-B-6 - Supplemental Indenture, dated as of January 1, 1941, supplementing
said Mortgage (filed with Form S- 1, File No. 2-7224, effective October
15, 1947, as Exhibit 7(f)).
4-B-7 - Supplemental Indenture, dated as of April 1, 1944, supplementing said
Mortgage (filed with Form S-1, File No. 2-7224, effective October 15,
1947, as Exhibit 7(g)).
4-B-8 - Supplemental Indenture, dated as of September 1, 1947, supplementing
said Mortgage (filed with Form S-1, File No. 2-7224, effective October
15, 1947, as Exhibit 7(h)).
4-B-9 - Supplemental Indenture, dated as of September 8, 1947, supplementing
said Mortgage (filed with Form S-1, File No. 2-10401, effective August
21, 1953, as Exhibit 4-B-9).
4-B-10- Supplemental Indenture, dated as of February 1, 1949, supplementing
said Mortgage (filed with Form S- 1, File No. 2-7808, effective
February 3, 1949, as Exhibit 7(j)).
4-B-11- Supplemental Indenture, dated as of March 1, 1949, supplementing said
Mortgage (filed with Form S-1, File No. 2-8877, effective April 6,
1951, as Exhibit 7(k)).
4-B-14- Supplemental Indenture, dated as of October 1, 1954, supplementing
said Mortgage (filed with Form S- 9, File No. 2-11297, effective
December 30, 1954, as Exhibit 2-B-14).
4-B-17- Supplemental Indenture, dated as of January 1, 1960, supplementing
said Mortgage (filed with Form 10, effective June 29, 1961, as Exhibit
3-B-18).
4-B-18- bSupplemental Indenture, dated as of February 1, 1960, supplementing
said Mortgage (filed with Form 10, effective June 29, 1961, as Exhibit
3-B-19).
4-B-21- Supplemental Indenture, dated as of June 15, 1964, supplementing said
Mortgage (filed with Form S-1, File No. 2-25367, effective August 3,
1966, as Exhibit 4-B-20).
4-B-24- Supplemental Indenture, dated as of February 1, 1968, supplementing
said Mortgage (filed with Form S- 9, File No. 2-31304, effective
January 21, 1969, as Exhibit 2-B-26).
4-B-48- Supplemental Indenture, dated as of September 1, 1983, supplementing
said Mortgage (filed with Form S-3, File No. 2-95931, effective April
1, 1985, as Exhibit 4-B-48).
4-B-49- Supplemental Indenture, dated as of September 1, 1984, supplementing
said Mortgage (filed with Form S-3, File No. 2-95931, effective April
1, 1985, as Exhibit 4-B-49).
4-B-56- Supplemental Indenture, dated as of February 15, 1987, supplementing
said Mortgage (filed with Form 10-K for the year ended December 31,
1986, File No. 1-4928, as Exhibit 4-B-56).
4-B-58- Supplemental Indenture, dated as of October 1, 1987, supplementing said
Mortgage (filed with Form 10- K for the year ended December 31, 1987,
File No. 1-4928, as Exhibit 4-B-58).
4-B-60- Supplemental Indenture, dated as of March 1, 1990, supplementing said
Mortgage (filed with Form 10- K for the year ended December 31, 1990,
File No. 1-4928, as Exhibit 4-B-60).
4-B-62- Supplemental Indenture, dated as of May 15, 1990, supplementing said
Mortgage (filed with Form 10-K for the year ended December 31, 1990,
File No. 1-4928, as Exhibit 4-B-62).
4-B-64- Supplemental Indenture, dated as of July 1, 1991, supplementing said
Mortgage (filed with Form S-3, File No. 33-45501, effective February
13, 1992, as Exhibit 4-B-64).
2
<PAGE>
4-B-67- Supplemental Indenture, dated as of June 1, 1992, supplementing said
Mortgage (filed with Form S-3, File No. 33-50592, effective August 11,
1992, as Exhibit 4-B-67).
4-B-68- Supplemental Indenture, dated as of July 1, 1992, supplementing said
Mortgage (filed with Form S-3, File No. 33-50592, effective August 11,
1992, as Exhibit 4-B-68).
4-B-69- Supplemental Indenture, dated as of September 1, 1992, supplementing
said Mortgage (filed with Form S-3, File No. 33-53308, effective
November 24, 1992, as Exhibit 4-B-69).
4-B-70- Supplemental Indenture, dated as of February 1, 1993, supplementing
said Mortgage (filed with Form 10-K for the year ended December 31,
1992, File No. 1-4928, as Exhibit 4-B-70).
4-B-71- Supplemental Indenture, dated as of March 1, 1993, supplementing said
Mortgage (filed with Form S-3, File No. 33-59448, effective March 17,
1993, as Exhibit 4-B-71).
4-B-72- Supplemental Indenture, dated as of April 1, 1993, supplementing said
Mortgage (filed with Form S-3, File No. 33-50543, effective October 20,
1993, as Exhibit 4-B-72).
4-B-73- Supplemental Indenture, dated as of May 1, 1993, supplementing said
Mortgage (filed with Form S-3, File No. 33-50543, effective October 20,
1993, as Exhibit 4-B-73).
4-B-74- Supplemental Indenture, dated as of June 1, 1993, supplementing said
Mortgage (filed with Form S-3, File No. 33-50543, effective October 20,
1993, as Exhibit 4-B-74).
4-B-75- Supplemental Indenture, dated as of July 1, 1993, supplementing said
Mortgage (filed with Form S-3, File No. 33-50543, effective October 20,
1993, as Exhibit 4-B-75).
4-B-76- Supplemental Indenture, dated as of August 1, 1993, supplementing said
Mortgage (filed with Form S-3, File No. 33-50543, effective October 20,
1993, as Exhibit 4-B-76).
4-B-77- Supplemental Indenture, dated as of August 20, 1993, supplementing said
Mortgage (filed with Form S- 3, File No. 33-50543, effective October
20, 1993, as Exhibit 4-B-77).
4-B-78- Supplemental Indenture, dated as of May 1, 1994, supplementing said
Mortgage (filed with Form 10-K for the year ended December 31, 1994,
File No. 1-4928, as Exhibit 4-B-78).
4-B-79- Supplemental Indenture, dated as of November 1, 1994, supplementing
said Mortgage (filed with Form 10-K for the year ended December 31,
1994, File No. 1-4928, as Exhibit 4-B-79).
4-B-80- Supplemental Indenture, dated as of August 1, 1995, supplementing said
Mortgage (filed with Form 10- K for the year ended December 31, 1995,
File No. 1-4928, as Exhibit 4-B-80).
4-C - Instrument of Resignation, Appointment and Acceptance among Duke Power
Company, Morgan Guaranty Trust Company of New York, as Trustee, and
Chemical Bank, as Successor Trustee, dated as of August 30, 1994 (filed
with Form 10-K for the year ended December 31, 1994, File No. 1-4928,
as Exhibit 4-C).
10-A - Agreement, dated March 6, 1978, between the registrant and the North
Carolina Municipal Power Agency No. 1 (filed with Form 8-K for the
month of March 1978, File No. 1-4928).
10-B - Agreement, dated August 1, 1980, between the registrant and Piedmont
Municipal Power Agency (filed with Form 8-K for the month of August
1980, File No. 1-4928).
10-C - Agreement, dated October 14, 1980, between the registrant and North
Carolina Electric Membership Corporation (filed with Form 10-Q for the
quarter ended September 30, 1980, File No. 1-4928).
10-D - Agreement, dated October 14, 1980, between the registrant and Saluda
River Electric Cooperative, Inc. (filed with Form 10-Q for the quarter
ended September 30, 1980, File No. 1-4928).
10-E**- Employee Incentive Plan (filed with Form 10-K for the year ended
December 31, 1993, File No. 1-4928, as Exhibit 10-F).
10-F**- Directors' Charitable Giving Program (filed with Form 10-K for the
year ended December 31, 1992, File No. 1-4928, as Exhibit 10-P).
10-G**- Estate Conservation Plan (filed with Form 10-K for the year ended
December 31, 1992, File No. 1-4928, as Exhibit 10-R).
10-H**- Supplemental Insurance Plan (filed with Form 10-K for the year ended
December 31, 1992, File No. 1-4928, as Exhibit 10-S).
10-I**- Executive Short-Term Incentive Plan (filed with Form 10-K for the
year ended December 31, 1994, File No. 1-4928, as Exhibit 10-V).
10-J**- Executive Savings Plan (filed with Form 10-K for the year ended
December 31, 1996, File No. 1-4928, as Exhibit 10-Z).
10-K**- Executive Cash Balance Plan (filed with Form 10-K for the year ended
December 31, 1996, File No. 1-4928, as Exhibit 10-AA).
10-L**- Directors' Savings Plan (filed with Form 10-K for the year ended
December 31, 1996, File No. 1-4928, as Exhibit 10-BB).
10-M**- Duke Power Company Stock Incentive Plan (filed as Appendix A to
Schedule 14A of registrant, March 18, 1996, File No. 1-4928).
3
<PAGE>
10-N**- 1989 Nonemployee Directors Stock Option Plan of Panhandle Eastern
Corporation, adopted February 1, 1989 (filed with Form S-8 Registration
Statement of Panhandle Eastern Corporation, File No. 33-28912, as
Exhibit 28(a)).
10-O**- 1982 Key Employee Stock Option Plan of Panhandle Eastern Corporation,
as amended through December 3, 1986 (and related Agreement) (filed with
Form 10-K of Panhandle Eastern Corporation for the year ended December
31, 1986, File No. 1-8157, as Exhibit 10(g)).
10-P**- Employees Savings Plan of Panhandle Eastern Corporation and
Participating Affiliates (filed with Form 10-K of Panhandle Eastern
Corporation for the year ended December 31, 1990, File No. 1-8157, as
Exhibit 10.12).
10-Q**- Panhandle Eastern Corporation 1994 Long Term Incentive Plan (filed
with Form 10-K of Panhandle Eastern Corporation for the year ended
December 31, 1993, File No. 1-8157, as Exhibit 10.18).
*10-R - $1,250,000,000 Five-Year Credit Agreement dated as of August 25,
1997, among registrant, the banks listed therein and Morgan Guaranty
Trust Company of New York, as Administrative Agent.
*10-S - $950,000,000 Five-Year Credit Agreement dated as of August 25, 1997,
among Duke Capital Corporation, the banks listed therein and The Chase
Manhattan Bank, as Administrative Agent.
*10-T - $300,000,000 364-Day Credit Agreement dated as of August 25, 1997,
among Duke Capital Corporation, the banks listed therein and The Chase
Manhattan Bank, as Administrative Agent.
10-U**- Employment Agreement by and between the registrant and Richard B.
Priory dated November 24, 1996 (incorporated by reference to Exhibit
C-1 of Exhibit 2 to this Form 10-K), and the First Amendment thereto
dated October 22, 1997, filed herewith.
10-V**- Employment Agreement by and among PanEnergy Corp, the registrant and
Paul M. Anderson dated November 24, 1996 (incorporated by reference to
Exhibit B-1 of Exhibit 2 to this Form 10-K), and the First Amendment
thereto dated October 24, 1997, filed herewith.
10-W**- Employment Agreement by and among PanEnergy Corp, the registrant and
James T. Hackett dated November 24, 1996 (incorporated by reference to
Exhibit B-2 of Exhibit 2 to this Form 10-K), and the First Amendment
thereto dated October 24, 1997, filed herewith.
10-X**- Employment Agreement by and between the registrant and William A. Coley
dated November 24, 1996 (incorporated by reference to Exhibit C-2 of
Exhibit 2 to this Form 10-K), and the First Amendment thereto dated
October 24, 1997, filed herewith.
10-Y**- Employment Agreement by and between the registrant and Richard J.
Osborne dated November 24, 1996 (incorporated by reference to Exhibit
C-3 of Exhibit 2 to this Form 10-K), and the First Amendment thereto
dated October 27, 1997, filed herewith.
10-Z**- 1990 Long-Term Incentive Plan of Panhandle Eastern Corporation (filed
with Form 10-K of Panhandle Eastern Corporation for the year ended
December 31, 1990, File No. 1-8157, as Exhibit 10.14).
10-AA - Formation Agreement between PanEnergy Trading and Market Services,
Inc. and Mobil Natural Gas, Inc. dated May 29, 1996 (filed with Form
10-Q of PanEnergy Corp for the quarter ended June 30, 1996, File No.
1-8157, as Exhibit 2).
*12 - Computation of Ratio of Earnings to Fixed Charges.
*21 - List of Subsidiaries.
*23(a)- Consent of Deloitte & Touche LLP.
*23(b)- Consent of KPMG Peat Marwick LLP.
*24(a)- Power of attorney authorizing Richard J. Osborne and others to sign
the annual report on behalf of the registrant and certain of its
directors and officers. *24(b) - Certified copy of resolution of the
Board of Directors of the registrant authorizing power of attorney.
*27(1)- Financial Data Schedule for the Year Ended December 31, 1997.
*27(2)- Financial Data Schedule for the Year Ended December 31, 1996.
*27(3)- Financial Data Schedule for the Year Ended December 31, 1995.
*27(4)- Financial Data Schedule for the Quarter Ended March 31, 1997.
*27(5)- Financial Data Schedule for the Quarter Ended June 30, 1997.
*27(6)- Financial Data Schedule for the Quarter Ended September 30, 1997.
*27(7)- Financial Data Schedule for the Quarter Ended March 31, 1996.
*27(8)- Financial Data Schedule for the Quarter Ended June 30, 1996.
*27(9)- Financial Data Schedule for the Quarter Ended September 30, 1996.
*99 - Independent Auditors' Report of KPMG Peat Marwick LLP to the Board of
Directors of PanEnergy Corp, dated January 16, 1997.
The total amount of securities of the registrant or its subsidiaries
authorized under any instrument with respect to long-term debt not filed as an
exhibit does not exceed 10% of the total assets of the registrant and its
subsidiaries on a
4
<PAGE>
consolidated basis. The registrant agrees, upon request of the
Securities and Exchange Commission, to furnish copies of any or all of such
instruments.
5
<PAGE>
<TABLE> <S> <C>
<ARTICLE> UT
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL
INFORMATION EXTRACTED FROM THE CONSOLIDATED
STATEMENTS OF INCOME, CONSOLIDATED STATEMENTS OF
CASH FLOWS, AND CONSOLIDATED BALANCE SHEETS AS OF
AND FOR YEAR TO DATE 12/31/97 AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS
</LEGEND>
<CIK> 0000030371
<NAME> DUKE ENERGY CORPORATION
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 9,576,500
<OTHER-PROPERTY-AND-INVEST> 8,607,000
<TOTAL-CURRENT-ASSETS> 3,685,200
<TOTAL-DEFERRED-CHARGES> 2,160,100
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 24,028,800
<COMMON> 4,283,700
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 3,256,000
<TOTAL-COMMON-STOCKHOLDERS-EQ> 7,539,700
149,000
340,000
<LONG-TERM-DEBT-NET> 6,530,000
<SHORT-TERM-NOTES> 35,700
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 1,733,800
<LONG-TERM-DEBT-CURRENT-PORT> 77,300
0
<CAPITAL-LEASE-OBLIGATIONS> 9,744
<LEASES-CURRENT> 1,640
<OTHER-ITEMS-CAPITAL-AND-LIAB> 9,223,300
<TOT-CAPITALIZATION-AND-LIAB> 24,028,800
<GROSS-OPERATING-REVENUE> 16,308,900
<INCOME-TAX-EXPENSE> 638,900
<OTHER-OPERATING-EXPENSES> 14,338,900
<TOTAL-OPERATING-EXPENSES> 14,977,800
<OPERATING-INCOME-LOSS> 1,970,000
<OTHER-INCOME-NET> 138,100
<INCOME-BEFORE-INTEREST-EXPEN> 1,446,200
<TOTAL-INTEREST-EXPENSE> 471,800
<NET-INCOME> 974,400
72,800
<EARNINGS-AVAILABLE-FOR-COMM> 901,600
<COMMON-STOCK-DIVIDENDS> 682,200
<TOTAL-INTEREST-ON-BONDS> 228,738
<CASH-FLOW-OPERATIONS> 2,140,100
<EPS-PRIMARY> 2.51<F1>
<EPS-DILUTED> 2.50
<FN>
<F1> Represents basic earnings per share.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> UT
<RESTATED>
<CIK> 0000030371
<NAME> DUKE ENERGY CORPORATION
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 9,386,300
<OTHER-PROPERTY-AND-INVEST> 7,502,500
<TOTAL-CURRENT-ASSETS> 3,146,000
<TOTAL-DEFERRED-CHARGES> 2,331,400
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 22,366,200
<COMMON> 4,289,300
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 3,051,900
<TOTAL-COMMON-STOCKHOLDERS-EQ> 7,341,200
234,000
450,000
<LONG-TERM-DEBT-NET> 5,485,100
<SHORT-TERM-NOTES> 265,500
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 324,200
<LONG-TERM-DEBT-CURRENT-PORT> 350,600
0
<CAPITAL-LEASE-OBLIGATIONS> 9,758
<LEASES-CURRENT> 1,507
<OTHER-ITEMS-CAPITAL-AND-LIAB> 8,045,600
<TOT-CAPITALIZATION-AND-LIAB> 22,366,200
<GROSS-OPERATING-REVENUE> 12,302,400
<INCOME-TAX-EXPENSE> 697,800
<OTHER-OPERATING-EXPENSES> 10,143,800
<TOTAL-OPERATING-EXPENSES> 10,841,600
<OPERATING-INCOME-LOSS> 2,158,600
<OTHER-INCOME-NET> 135,600
<INCOME-BEFORE-INTEREST-EXPEN> 1,590,200
<TOTAL-INTEREST-EXPENSE> 499,200
<NET-INCOME> 1,074,300
44,200
<EARNINGS-AVAILABLE-FOR-COMM> 1,030,100
<COMMON-STOCK-DIVIDENDS> 565,600
<TOTAL-INTEREST-ON-BONDS> 244,001
<CASH-FLOW-OPERATIONS> 2,335,200
<EPS-PRIMARY> 2.85<F1>
<EPS-DILUTED> 2.83<F2>
<FN>
<F1> Represents basic earnings per share.
<F2> Restated to reflect the Corporation's adoption of Statement of Financial
Accounting Standards No. 128, "Earnings Per Share".
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> UT
<RESTATED>
<CIK> 0000030371
<NAME> DUKE ENERGY CORPORATION
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 9,360,500
<OTHER-PROPERTY-AND-INVEST> 6,835,600
<TOTAL-CURRENT-ASSETS> 2,159,800
<TOTAL-DEFERRED-CHARGES> 2,512,000
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 20,867,900
<COMMON> 4,296,800
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 2,715,700
<TOTAL-COMMON-STOCKHOLDERS-EQ> 7,012,500
234,000
450,000
<LONG-TERM-DEBT-NET> 5,803,000
<SHORT-TERM-NOTES> 174,300
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 256,000
<LONG-TERM-DEBT-CURRENT-PORT> 191,700
0
<CAPITAL-LEASE-OBLIGATIONS> 6,278
<LEASES-CURRENT> 1,198
<OTHER-ITEMS-CAPITAL-AND-LIAB> 6,876,400
<TOT-CAPITALIZATION-AND-LIAB> 20,867,900
<GROSS-OPERATING-REVENUE> 9,694,700
<INCOME-TAX-EXPENSE> 664,200
<OTHER-OPERATING-EXPENSES> 7,626,400
<TOTAL-OPERATING-EXPENSES> 8,290,600
<OPERATING-INCOME-LOSS> 2,068,300
<OTHER-INCOME-NET> 122,200
<INCOME-BEFORE-INTEREST-EXPEN> 1,526,300
<TOTAL-INTEREST-EXPENSE> 508,200
<NET-INCOME> 1,018,100
48,900
<EARNINGS-AVAILABLE-FOR-COMM> 969,200
<COMMON-STOCK-DIVIDENDS> 542,200
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<FN>
<F1> Represents basic earnings per share.
<F2> Restated to reflect the Corporation's adoption of Statement of Financial
Accounting Standards No. 128, "Earnings Per Share".
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<NAME> DUKE ENERGY CORPORATION
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<NAME> DUKE ENERGY CORPORATION
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<TABLE> <S> <C>
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<NAME> DUKE ENERGY CORPORATION
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<TABLE> <S> <C>
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<NAME> DUKE ENERGY CORPORATION
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<FN>
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<TABLE> <S> <C>
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<NAME> DUKE ENERGY CORPORATION
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<F1> Represents basic earnings per share.
<F2> Restated to reflect the Corporation's adoption of Statement of Financial
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</FN>
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