Unlike high-tech and pharmaceutical industry combinations that primarily recognize intangible assets, Duke Energy's acquisition of Progress Energy was dominated by a $23 billion value assigned to Progress Energy's property, plant, and equipment. Nonetheless, goodwill of s12.5 billion was recognized. According to Duke Energy's 2012 SEC Form 10-K, the goodwill reflects the"long-term potential for enhanced access to capital as a result of the company's increased scale and diversity, opportunities for synergies, and an improved risk profile