Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Jan. 31, 2016 | Jun. 30, 2015 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Amendment Flag | false | ||
Entity Registrant Name | Duke Energy Corporation | ||
Entity Central Index Key | 1,326,160 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding | 688,377,923 | ||
Entity Public Float | $ 48,570,203,631 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Duke Energy Carolinas [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Carolinas, LLC | ||
Entity Central Index Key | 30,371 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Progress Energy [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Progress Energy, Inc. | ||
Entity Central Index Key | 1,094,093 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Duke Energy Progress [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Progress, Inc. | ||
Entity Central Index Key | 17,797 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Duke Energy Florida [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Florida, Inc. | ||
Entity Central Index Key | 37,637 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Duke Energy Ohio [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Ohio, Inc. | ||
Entity Central Index Key | 20,290 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Duke Energy Indiana [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Indiana, Inc. | ||
Entity Central Index Key | 81,020 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Operating Revenues [Abstract] | ||||
Regulated electric | $ 21,379 | $ 21,550 | $ 20,329 | |
Nonregulated electric, natural gas, and other | 1,544 | 1,802 | 1,916 | |
Regulated natural gas | 536 | 573 | 511 | |
Total operating revenues | 23,459 | 23,925 | 22,756 | |
Operating Expenses [Abstract] | ||||
Fuel used in electric generation and purchased power - regulated | 7,308 | 7,686 | 7,108 | |
Fuel used in electric generation and purchased power - nonregulated | 354 | 533 | 540 | |
Cost of natural gas | 195 | 248 | 224 | |
Operation, maintenance and other | 5,871 | 5,856 | 5,673 | |
Depreciation and amortization | 3,144 | 3,066 | 2,668 | |
Property and other taxes | 1,135 | 1,213 | 1,274 | |
Impairment charges | 120 | 81 | 399 | |
Total operating expenses | 18,127 | 18,683 | 17,886 | |
Gains (Losses) on Sales of Other Assets and Other, net | 35 | 16 | (16) | |
Operating Income (Loss) | 5,367 | 5,258 | 4,854 | |
Other Income and Expenses [Abstract] | ||||
Equity in earnings of unconsolidated affiliates | 69 | 130 | 122 | |
Gains on sales of unconsolidated affiliates | 7 | 17 | 100 | |
Other income and expenses, net | 307 | 351 | 262 | |
Total other income and expenses | 383 | 498 | 484 | |
Interest Expense | 1,613 | 1,622 | 1,543 | |
Income (Loss) From Continuing Operations Before Income Taxes | 4,137 | 4,134 | 3,795 | |
Income Tax Expense (Benefit) from Continuing Operations | 1,326 | 1,669 | 1,205 | |
Income (Loss) from Continuing Operations | 2,811 | 2,465 | 2,590 | |
(Loss) Income From Discontinued Operations, net of tax | 20 | (576) | 86 | |
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 15 | 6 | 11 | |
Net Income (Loss) Attributable to Parent | 2,816 | 1,883 | 2,665 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Pension and OPEB adjustments | [1] | (13) | 4 | 38 |
Net unrealized gain (loss) on cash flow hedges | [2] | (26) | 59 | |
Reclassification into earnings from cash flow hedges | 9 | 7 | 1 | |
Unrealized gain (loss) on investments in available for sale securities | (6) | 3 | (4) | |
Other comprehensive income (loss), net of tax | (274) | (136) | (99) | |
Comprehensive Income (Loss) | 2,557 | 1,753 | 2,577 | |
Less: Comprehensive Income Attributable to Noncontrolling Interests | 4 | 14 | 5 | |
Comprehensive income (loss) | $ 2,553 | $ 1,739 | $ 2,572 | |
Income From Continuing Operations Attributable To Parent Common Shareholders [Abstract] | ||||
Basic | $ 4.02 | $ 3.46 | $ 3.64 | |
Diluted | 4.02 | 3.46 | 3.63 | |
Income (loss) from discontinued operations attributable To Duke Energy Corporation common shareholders [Abstract] | ||||
Basic | 0.03 | (0.80) | 0.13 | |
Diluted | 0.03 | (0.80) | 0.13 | |
Net income attributable to Duke Energy Corporation common shareholders [Abstract] | ||||
Basic | 4.05 | 2.66 | 3.77 | |
Diluted | $ 4.05 | $ 2.66 | $ 3.76 | |
Weighted-average shares outstanding [Abstract] | ||||
Basic | 694 | 707 | 706 | |
Diluted | 694 | 707 | 706 | |
Duke Energy Carolinas [Member] | ||||
Operating Revenues [Abstract] | ||||
Total operating revenues | $ 7,229 | $ 7,351 | $ 6,954 | |
Operating Expenses [Abstract] | ||||
Fuel used in electric generation and purchased power - regulated | 1,881 | 2,133 | 1,982 | |
Operation, maintenance and other | 2,066 | 1,995 | 1,868 | |
Depreciation and amortization | 1,051 | 1,009 | 921 | |
Property and other taxes | 269 | 316 | 374 | |
Impairment charges | 1 | 3 | ||
Total operating expenses | 5,268 | 5,456 | 5,145 | |
Gains (Losses) on Sales of Other Assets and Other, net | (1) | |||
Operating Income (Loss) | 1,960 | 1,895 | 1,809 | |
Other Income and Expenses [Abstract] | ||||
Other income and expenses, net | 160 | 172 | 120 | |
Interest Expense | 412 | 407 | 359 | |
Income (Loss) From Continuing Operations Before Income Taxes | 1,708 | 1,660 | 1,570 | |
Income Tax Expense (Benefit) from Continuing Operations | 627 | 588 | 594 | |
Net Income (Loss) Attributable to Parent | 1,081 | 1,072 | 976 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Reclassification into earnings from cash flow hedges | 1 | 2 | 1 | |
Unrealized gain (loss) on investments in available for sale securities | 1 | |||
Other comprehensive income (loss), net of tax | 2 | 2 | 1 | |
Comprehensive income (loss) | 1,083 | 1,074 | 977 | |
Progress Energy [Member] | ||||
Operating Revenues [Abstract] | ||||
Total operating revenues | 10,277 | 10,166 | 9,533 | |
Operating Expenses [Abstract] | ||||
Fuel used in electric generation and purchased power - regulated | 4,224 | 4,195 | 3,851 | |
Operation, maintenance and other | 2,298 | 2,335 | 2,247 | |
Depreciation and amortization | 1,116 | 1,128 | 883 | |
Property and other taxes | 492 | 517 | 557 | |
Impairment charges | 12 | (16) | 380 | |
Total operating expenses | 8,142 | 8,159 | 7,918 | |
Gains (Losses) on Sales of Other Assets and Other, net | 25 | 11 | 3 | |
Operating Income (Loss) | 2,160 | 2,018 | 1,618 | |
Other Income and Expenses [Abstract] | ||||
Other income and expenses, net | 97 | 77 | 94 | |
Interest Expense | 670 | 675 | 680 | |
Income (Loss) From Continuing Operations Before Income Taxes | 1,587 | 1,420 | 1,032 | |
Income Tax Expense (Benefit) from Continuing Operations | 522 | 540 | 373 | |
Income (Loss) from Continuing Operations | 1,065 | 880 | 659 | |
(Loss) Income From Discontinued Operations, net of tax | (3) | (6) | 16 | |
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 11 | 5 | 3 | |
Net Income (Loss) Attributable to Parent | 1,051 | 869 | 672 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Pension and OPEB adjustments | (10) | 9 | 9 | |
Reclassification into earnings from cash flow hedges | 4 | 8 | (1) | |
Unrealized gain (loss) on investments in available for sale securities | (1) | 1 | ||
Other comprehensive income (loss), net of tax | (7) | 18 | 8 | |
Comprehensive Income (Loss) | 1,055 | 892 | 683 | |
Less: Comprehensive Income Attributable to Noncontrolling Interests | 11 | 5 | 3 | |
Comprehensive income (loss) | 1,044 | 887 | 680 | |
Duke Energy Progress [Member] | ||||
Operating Revenues [Abstract] | ||||
Total operating revenues | 5,290 | 5,176 | 4,992 | |
Operating Expenses [Abstract] | ||||
Fuel used in electric generation and purchased power - regulated | 2,029 | 2,036 | 1,925 | |
Operation, maintenance and other | 1,452 | 1,470 | 1,357 | |
Depreciation and amortization | 643 | 582 | 534 | |
Property and other taxes | 140 | 174 | 223 | |
Impairment charges | 5 | (18) | 22 | |
Total operating expenses | 4,269 | 4,244 | 4,061 | |
Gains (Losses) on Sales of Other Assets and Other, net | 3 | 3 | 1 | |
Operating Income (Loss) | 1,024 | 935 | 932 | |
Other Income and Expenses [Abstract] | ||||
Other income and expenses, net | 71 | 51 | 57 | |
Interest Expense | 235 | 234 | 201 | |
Income (Loss) From Continuing Operations Before Income Taxes | 860 | 752 | 788 | |
Income Tax Expense (Benefit) from Continuing Operations | 294 | 285 | 288 | |
Net Income (Loss) Attributable to Parent | 566 | 467 | 500 | |
Duke Energy Florida [Member] | ||||
Operating Revenues [Abstract] | ||||
Total operating revenues | 4,977 | 4,975 | 4,527 | |
Operating Expenses [Abstract] | ||||
Fuel used in electric generation and purchased power - regulated | 2,195 | 2,158 | 1,927 | |
Operation, maintenance and other | 835 | 850 | 898 | |
Depreciation and amortization | 473 | 545 | 330 | |
Property and other taxes | 352 | 343 | 327 | |
Impairment charges | 7 | 2 | 358 | |
Total operating expenses | 3,862 | 3,898 | 3,840 | |
Gains (Losses) on Sales of Other Assets and Other, net | 1 | 1 | ||
Operating Income (Loss) | 1,115 | 1,078 | 688 | |
Other Income and Expenses [Abstract] | ||||
Other income and expenses, net | 24 | 20 | 30 | |
Interest Expense | 198 | 201 | 180 | |
Income (Loss) From Continuing Operations Before Income Taxes | 941 | 897 | 538 | |
Income Tax Expense (Benefit) from Continuing Operations | 342 | 349 | 213 | |
Net Income (Loss) Attributable to Parent | 599 | 548 | 325 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Net unrealized gain (loss) on cash flow hedges | (1) | |||
Reclassification into earnings from cash flow hedges | 1 | |||
Other comprehensive income (loss), net of tax | 1 | (1) | ||
Comprehensive income (loss) | 599 | 549 | 324 | |
Duke Energy Ohio [Member] | ||||
Operating Revenues [Abstract] | ||||
Regulated electric | 1,331 | 1,316 | 1,258 | |
Nonregulated electric, natural gas, and other | 33 | 19 | 34 | |
Regulated natural gas | 541 | 578 | 513 | |
Total operating revenues | 1,905 | 1,913 | 1,805 | |
Operating Expenses [Abstract] | ||||
Fuel used in electric generation and purchased power - regulated | 446 | 459 | 428 | |
Fuel used in electric generation and purchased power - nonregulated | 47 | 25 | 41 | |
Cost of natural gas | 141 | 185 | 152 | |
Operation, maintenance and other | 495 | 516 | 546 | |
Depreciation and amortization | 227 | 214 | 213 | |
Property and other taxes | 254 | 234 | 242 | |
Impairment charges | 94 | 5 | ||
Total operating expenses | 1,610 | 1,727 | 1,627 | |
Gains (Losses) on Sales of Other Assets and Other, net | 8 | 1 | 4 | |
Operating Income (Loss) | 303 | 187 | 182 | |
Other Income and Expenses [Abstract] | ||||
Other income and expenses, net | 6 | 10 | 2 | |
Interest Expense | 79 | 86 | 74 | |
Income (Loss) From Continuing Operations Before Income Taxes | 230 | 111 | 110 | |
Income Tax Expense (Benefit) from Continuing Operations | 81 | 43 | 43 | |
Income (Loss) from Continuing Operations | 149 | 68 | 67 | |
(Loss) Income From Discontinued Operations, net of tax | 23 | (563) | 35 | |
Net Income (Loss) Attributable to Parent | 172 | (495) | 102 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Pension and OPEB adjustments | 1 | |||
Other comprehensive income (loss), net of tax | 1 | |||
Comprehensive income (loss) | 172 | (495) | 103 | |
Duke Energy Indiana [Member] | ||||
Operating Revenues [Abstract] | ||||
Total operating revenues | 2,890 | 3,175 | 2,926 | |
Operating Expenses [Abstract] | ||||
Fuel used in electric generation and purchased power - regulated | 982 | 1,259 | 1,131 | |
Operation, maintenance and other | 682 | 670 | 649 | |
Depreciation and amortization | 434 | 413 | 342 | |
Property and other taxes | 61 | 128 | 71 | |
Impairment charges | 88 | |||
Total operating expenses | 2,247 | 2,470 | 2,193 | |
Gains (Losses) on Sales of Other Assets and Other, net | 1 | |||
Operating Income (Loss) | 644 | 705 | 733 | |
Other Income and Expenses [Abstract] | ||||
Other income and expenses, net | 11 | 22 | 18 | |
Interest Expense | 176 | 171 | 170 | |
Income (Loss) From Continuing Operations Before Income Taxes | 479 | 556 | 581 | |
Income Tax Expense (Benefit) from Continuing Operations | 163 | 197 | 223 | |
Net Income (Loss) Attributable to Parent | 316 | 359 | 358 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Reclassification into earnings from cash flow hedges | (2) | (2) | ||
Other comprehensive income (loss), net of tax | (2) | (2) | ||
Comprehensive income (loss) | $ 314 | $ 359 | $ 356 | |
[1] | Net of insignificant tax expense in 2015, 2014 and $17 million tax expense in 2013. See Note 21 for additional information. | |||
[2] | Net of insignificant tax expense in 2015, $13 million tax benefit in 2014 and $20 million tax expense in 2013. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Statement of Comprehensive Income [Abstract] | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | $ 13 | $ 20 | ||
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) | $ 2,831 | 1,889 | 2,676 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Foreign currency translation adjustments | (264) | (124) | (197) | |
Pension and OPEB adjustments | [1] | (13) | 4 | 38 |
Net unrealized gain (loss) on cash flow hedges | [2] | (26) | 59 | |
Reclassification into earnings from cash flow hedges | 9 | 7 | 1 | |
Unrealized gain (loss) on investments in available for sale securities | (6) | 3 | (4) | |
Reclassification into earnings from available for sale securities | 4 | |||
Other comprehensive income (loss), net of tax | (274) | (136) | (99) | |
Comprehensive Income | 2,557 | 1,753 | 2,577 | |
Less: Comprehensive Income Attributable to Noncontrolling Interests | 4 | 14 | 5 | |
Comprehensive income (loss) | $ 2,553 | $ 1,739 | $ 2,572 | |
[1] | Net of insignificant tax expense in 2015, 2014 and $17 million tax expense in 2013. See Note 21 for additional information. | |||
[2] | Net of insignificant tax expense in 2015, $13 million tax benefit in 2014 and $20 million tax expense in 2013. |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parenthetical) (Parentheticals) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | $ (17) | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | $ 13 | $ 20 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Current Assets [Abstract] | ||
Cash and cash equivalents | $ 857 | $ 2,036 |
Receivables (net of allowance for doubtful accounts) | 703 | 791 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 1,748 | 1,973 |
Inventory | 3,810 | 3,459 |
Assets held for sale | 364 | |
Regulatory assets | 877 | 1,115 |
Other | 327 | 1,837 |
Total current assets | 8,322 | 11,575 |
Investments and Other Assets [Abstract] | ||
Investments in equity method unconsolidated affiliates | 499 | 358 |
Nuclear decommissioning trust funds | 5,825 | 5,546 |
Goodwill | 16,343 | 16,321 |
Assets held for sale | 2,642 | |
Other | 3,042 | 3,008 |
Total investments and other assets | 25,709 | 27,875 |
Property, Plant and Equipment [Abstract] | ||
Cost | 112,826 | 104,861 |
Accumulated depreciation and amortization | (37,665) | (34,824) |
Generation facilities to be retired, net | 548 | 9 |
Net property, plant and equipment | 75,709 | 70,046 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets | 11,373 | 11,042 |
Other | 43 | 19 |
Total regulatory assets and deferred debits | 11,416 | 11,061 |
Total Assets | 121,156 | 120,557 |
Current Liabilities [Abstract] | ||
Accounts payable | 2,400 | 2,271 |
Notes payable and commercial paper | 3,633 | 2,514 |
Taxes accrued | 348 | 569 |
Interest accrued | 430 | 418 |
Current maturities of long-term debt | 2,074 | 2,807 |
Liabilities associated with assets held for sale | 262 | |
Regulatory liabilities | 400 | 204 |
Other | 2,115 | 2,188 |
Total current liabilities | 11,400 | 11,233 |
Long-Term debt | 37,495 | 37,061 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 12,705 | 13,423 |
Investment tax credits | 472 | 427 |
Accrued pension and other post-retirement benefit costs | 1,088 | 1,145 |
Liabilities associated with assets held for sale | 35 | |
Asset retirement obligations | 10,264 | 8,466 |
Regulatory liabilities | 6,255 | 6,193 |
Other | 1,706 | 1,675 |
Total deferred credits and other liabilities | $ 32,490 | $ 31,364 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Common stock | $ 1 | $ 1 |
Additional paid-in capital | 37,968 | 39,405 |
Retained earnings | 2,564 | 2,012 |
Accumulated other comprehensive (loss) income | (806) | (543) |
Total Common Shareholders' Equity | 39,727 | 40,875 |
Noncontrolling interests | 44 | 24 |
Total equity | 39,771 | 40,899 |
Total Liabilities and Equity | 121,156 | 120,557 |
Duke Energy Carolinas [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 13 | 13 |
Receivables (net of allowance for doubtful accounts) | 142 | 129 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 596 | 647 |
Receivables from affiliated companies | 107 | 75 |
Notes receivable from affiliated companies | 163 | 150 |
Inventory | 1,276 | 1,124 |
Regulatory assets | 305 | 399 |
Other | 128 | 77 |
Total current assets | 2,730 | 2,614 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 3,050 | 3,042 |
Other | 999 | 959 |
Total investments and other assets | 4,049 | 4,001 |
Property, Plant and Equipment [Abstract] | ||
Cost | 39,398 | 37,372 |
Accumulated depreciation and amortization | (13,521) | (12,700) |
Net property, plant and equipment | 25,877 | 24,672 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets | 2,766 | 2,465 |
Other | 4 | 4 |
Total regulatory assets and deferred debits | 2,770 | 2,469 |
Total Assets | 35,426 | 33,756 |
Current Liabilities [Abstract] | ||
Accounts payable | 753 | 709 |
Accounts payable to affiliated companies | 229 | 154 |
Taxes accrued | 25 | 146 |
Interest accrued | 95 | 95 |
Current maturities of long-term debt | 356 | 507 |
Regulatory liabilities | 39 | 34 |
Other | 519 | 434 |
Total current liabilities | 2,016 | 2,079 |
Long-Term debt | 7,711 | 7,546 |
Long-term debt payable to affiliated companies | 300 | 300 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 6,146 | 5,812 |
Investment tax credits | 199 | 204 |
Accrued pension and other post-retirement benefit costs | 107 | 111 |
Asset retirement obligations | 3,918 | 3,428 |
Regulatory liabilities | 2,802 | 2,710 |
Other | 621 | 642 |
Total deferred credits and other liabilities | $ 13,793 | $ 12,907 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Member's equity | $ 11,617 | $ 10,937 |
Accumulated other comprehensive (loss) income | (11) | (13) |
Total Member's Equity | 11,606 | 10,924 |
Total Liabilities and Equity | 35,426 | 33,756 |
Progress Energy [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 44 | 42 |
Receivables (net of allowance for doubtful accounts) | 151 | 129 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 658 | 741 |
Receivables from affiliated companies | 375 | 59 |
Notes receivable from affiliated companies | 220 | |
Inventory | 1,751 | 1,590 |
Regulatory assets | 362 | 491 |
Other | 156 | 1,285 |
Total current assets | 3,497 | 4,557 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 2,775 | 2,503 |
Goodwill | 3,655 | 3,655 |
Other | 834 | 670 |
Total investments and other assets | 7,264 | 6,828 |
Property, Plant and Equipment [Abstract] | ||
Cost | 42,666 | 38,650 |
Accumulated depreciation and amortization | (14,867) | (13,506) |
Generation facilities to be retired, net | 548 | |
Net property, plant and equipment | 28,347 | 25,144 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets | 5,435 | 5,408 |
Other | 5 | 5 |
Total regulatory assets and deferred debits | 5,440 | 5,413 |
Total Assets | 44,548 | 41,942 |
Current Liabilities [Abstract] | ||
Accounts payable | 722 | 847 |
Accounts payable to affiliated companies | 311 | 203 |
Notes payable to affiliated companies | 1,308 | 835 |
Taxes accrued | 53 | 114 |
Interest accrued | 195 | 184 |
Current maturities of long-term debt | 315 | 1,507 |
Regulatory liabilities | 286 | 106 |
Other | 891 | 1,021 |
Total current liabilities | 4,081 | 4,817 |
Long-Term debt | 13,999 | 13,161 |
Long-term debt payable to affiliated companies | 150 | |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 4,790 | 4,759 |
Accrued pension and other post-retirement benefit costs | 536 | 533 |
Asset retirement obligations | 5,369 | 4,711 |
Regulatory liabilities | 2,387 | 2,379 |
Other | 383 | 406 |
Total deferred credits and other liabilities | $ 13,465 | $ 12,788 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Additional paid-in capital | $ 8,092 | $ 7,467 |
Retained earnings | 4,831 | 3,782 |
Accumulated other comprehensive (loss) income | (48) | (41) |
Total Common Shareholders' Equity | 12,875 | 11,208 |
Noncontrolling interests | (22) | (32) |
Total equity | 12,853 | 11,176 |
Total Liabilities and Equity | 44,548 | 41,942 |
Duke Energy Progress [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 15 | 9 |
Receivables (net of allowance for doubtful accounts) | 87 | 43 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 349 | 436 |
Receivables from affiliated companies | 16 | 10 |
Notes receivable from affiliated companies | 237 | |
Inventory | 1,088 | 966 |
Regulatory assets | 264 | 287 |
Other | 121 | 384 |
Total current assets | 1,940 | 2,372 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 2,035 | 1,701 |
Other | 486 | 412 |
Total investments and other assets | 2,521 | 2,113 |
Property, Plant and Equipment [Abstract] | ||
Cost | 27,313 | 24,207 |
Accumulated depreciation and amortization | (10,141) | (9,021) |
Generation facilities to be retired, net | 548 | |
Net property, plant and equipment | 17,720 | 15,186 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets | 2,710 | 2,675 |
Other | 3 | 3 |
Total regulatory assets and deferred debits | 2,713 | 2,678 |
Total Assets | 24,894 | 22,349 |
Current Liabilities [Abstract] | ||
Accounts payable | 399 | 481 |
Accounts payable to affiliated companies | 190 | 120 |
Notes payable to affiliated companies | 209 | |
Taxes accrued | 15 | 47 |
Interest accrued | 96 | 81 |
Current maturities of long-term debt | 2 | 945 |
Regulatory liabilities | 85 | 71 |
Other | 412 | 409 |
Total current liabilities | 1,408 | 2,154 |
Long-Term debt | 6,366 | 5,225 |
Long-term debt payable to affiliated companies | 150 | |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 3,027 | 2,908 |
Investment tax credits | 132 | 79 |
Accrued pension and other post-retirement benefit costs | 262 | 290 |
Asset retirement obligations | 4,567 | 3,905 |
Regulatory liabilities | 1,878 | 1,832 |
Other | 45 | 89 |
Total deferred credits and other liabilities | 9,911 | 9,103 |
Equity [Abstract] | ||
Common stock | 2,159 | |
Member's equity | 7,059 | |
Retained earnings | 3,708 | |
Total equity | 7,059 | 5,867 |
Total Member's Equity | 7,059 | |
Total Liabilities and Equity | 24,894 | 22,349 |
Duke Energy Florida [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 8 | 8 |
Receivables (net of allowance for doubtful accounts) | 60 | 84 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 308 | 305 |
Receivables from affiliated companies | 84 | 40 |
Notes receivable from affiliated companies | 0 | 0 |
Inventory | 663 | 623 |
Regulatory assets | 98 | 203 |
Other | 21 | 521 |
Total current assets | 1,242 | 1,784 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 740 | 803 |
Other | 292 | 204 |
Total investments and other assets | 1,032 | 1,007 |
Property, Plant and Equipment [Abstract] | ||
Cost | 15,343 | 14,433 |
Accumulated depreciation and amortization | (4,720) | (4,478) |
Net property, plant and equipment | 10,623 | 9,955 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets | 2,725 | 2,733 |
Other | 2 | 2 |
Total regulatory assets and deferred debits | 2,727 | 2,735 |
Total Assets | 15,624 | 15,481 |
Current Liabilities [Abstract] | ||
Accounts payable | 322 | 365 |
Accounts payable to affiliated companies | 116 | 70 |
Notes payable to affiliated companies | 813 | 84 |
Taxes accrued | 132 | 65 |
Interest accrued | 43 | 47 |
Current maturities of long-term debt | 13 | 562 |
Regulatory liabilities | 200 | 35 |
Other | 452 | 586 |
Total current liabilities | 2,091 | 1,814 |
Long-Term debt | 4,253 | 4,261 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 2,460 | 2,452 |
Accrued pension and other post-retirement benefit costs | 242 | 221 |
Asset retirement obligations | 802 | 806 |
Regulatory liabilities | 509 | 547 |
Other | 146 | 158 |
Total deferred credits and other liabilities | $ 4,159 | $ 4,184 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Common stock | $ 1,762 | |
Member's equity | $ 5,121 | |
Retained earnings | 3,460 | |
Total equity | 5,121 | 5,222 |
Total Member's Equity | 5,121 | |
Total Liabilities and Equity | 15,624 | 15,481 |
Duke Energy Ohio [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 14 | 20 |
Receivables (net of allowance for doubtful accounts) | 66 | 93 |
Receivables from affiliated companies | 84 | 107 |
Notes receivable from affiliated companies | 145 | |
Inventory | 105 | 97 |
Assets held for sale | 316 | |
Regulatory assets | 36 | 49 |
Other | 110 | 167 |
Total current assets | 415 | 994 |
Investments and Other Assets [Abstract] | ||
Goodwill | 920 | 920 |
Assets held for sale | 2,605 | |
Other | 20 | 23 |
Total investments and other assets | 940 | 3,548 |
Property, Plant and Equipment [Abstract] | ||
Cost | 7,750 | 7,141 |
Accumulated depreciation and amortization | (2,507) | (2,213) |
Generation facilities to be retired, net | 9 | |
Net property, plant and equipment | 5,243 | 4,937 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets | 497 | 512 |
Other | 2 | 2 |
Total regulatory assets and deferred debits | 499 | 514 |
Total Assets | 7,097 | 9,993 |
Current Liabilities [Abstract] | ||
Accounts payable | 207 | 209 |
Accounts payable to affiliated companies | 53 | 74 |
Notes payable to affiliated companies | 103 | 491 |
Taxes accrued | 171 | 163 |
Interest accrued | 18 | 19 |
Current maturities of long-term debt | 106 | 157 |
Liabilities associated with assets held for sale | 246 | |
Regulatory liabilities | 12 | 10 |
Other | 153 | 66 |
Total current liabilities | 823 | 1,435 |
Long-Term debt | 1,467 | 1,578 |
Long-term debt payable to affiliated companies | 25 | 25 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 1,407 | 1,765 |
Accrued pension and other post-retirement benefit costs | 56 | 48 |
Liabilities associated with assets held for sale | 34 | |
Asset retirement obligations | 125 | 27 |
Regulatory liabilities | 245 | 241 |
Other | 165 | 166 |
Total deferred credits and other liabilities | 1,998 | 2,281 |
Equity [Abstract] | ||
Common stock | 762 | 762 |
Additional paid-in capital | 2,720 | 4,782 |
Retained earnings | (698) | (870) |
Total equity | 2,784 | 4,674 |
Total Liabilities and Equity | 7,097 | 9,993 |
Duke Energy Indiana [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 9 | 6 |
Receivables (net of allowance for doubtful accounts) | 96 | 87 |
Receivables from affiliated companies | 71 | 115 |
Notes receivable from affiliated companies | 83 | |
Inventory | 570 | 537 |
Regulatory assets | 102 | 93 |
Other | 15 | 326 |
Total current assets | 946 | 1,164 |
Investments and Other Assets [Abstract] | ||
Total investments and other assets | 212 | 251 |
Property, Plant and Equipment [Abstract] | ||
Cost | 14,007 | 13,034 |
Accumulated depreciation and amortization | (4,484) | (4,219) |
Net property, plant and equipment | 9,523 | 8,815 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets | 716 | 685 |
Other | 2 | 2 |
Total regulatory assets and deferred debits | 718 | 687 |
Total Assets | 11,399 | 10,917 |
Current Liabilities [Abstract] | ||
Accounts payable | 189 | 179 |
Accounts payable to affiliated companies | 83 | 58 |
Notes payable to affiliated companies | 71 | |
Taxes accrued | 89 | 54 |
Interest accrued | 56 | 56 |
Current maturities of long-term debt | 547 | 5 |
Regulatory liabilities | 62 | 54 |
Other | 97 | 98 |
Total current liabilities | 1,123 | 575 |
Long-Term debt | 3,071 | 3,614 |
Long-term debt payable to affiliated companies | 150 | 150 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 1,657 | 1,591 |
Investment tax credits | 138 | 139 |
Accrued pension and other post-retirement benefit costs | 80 | 82 |
Asset retirement obligations | 525 | 32 |
Regulatory liabilities | 754 | 796 |
Other | 65 | 90 |
Total deferred credits and other liabilities | $ 3,219 | $ 2,730 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Common stock | $ 1 | $ 1 |
Additional paid-in capital | 1,384 | 1,384 |
Retained earnings | 2,450 | 2,460 |
Accumulated other comprehensive (loss) income | 1 | 3 |
Total equity | 3,836 | 3,848 |
Total Liabilities and Equity | $ 11,399 | $ 10,917 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Receivables, allowance for doubtful accounts | $ 18 | $ 17 |
Restricted receivables, allowance for doubtful accounts | $ 53 | $ 51 |
Common stock, par or stated value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares outstanding | 688,000,000 | 707,000,000 |
Duke Energy Carolinas [Member] | ||
Receivables, allowance for doubtful accounts | $ 3 | $ 3 |
Restricted receivables, allowance for doubtful accounts | 7 | 6 |
Progress Energy [Member] | ||
Receivables, allowance for doubtful accounts | 6 | 8 |
Restricted receivables, allowance for doubtful accounts | $ 8 | $ 8 |
Common stock, par or stated value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Duke Energy Progress [Member] | ||
Receivables, allowance for doubtful accounts | $ 4 | $ 7 |
Restricted receivables, allowance for doubtful accounts | $ 5 | $ 5 |
Common stock, par or stated value | $ 0 | |
Common stock, shares authorized | 200,000,000 | |
Common stock, shares outstanding | 160,000,000 | |
Duke Energy Florida [Member] | ||
Receivables, allowance for doubtful accounts | $ 2 | $ 2 |
Restricted receivables, allowance for doubtful accounts | 3 | $ 3 |
Common stock, par or stated value | $ 0 | |
Common stock, shares authorized | 60,000,000 | |
Common stock, shares outstanding | 100 | |
Duke Energy Ohio [Member] | ||
Receivables, allowance for doubtful accounts | $ 2 | $ 2 |
Common stock, par or stated value | $ 8.50 | $ 8.50 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares outstanding | 89,663,086 | 89,663,086 |
Duke Energy Indiana [Member] | ||
Receivables, allowance for doubtful accounts | $ 1 | $ 1 |
Common stock, par or stated value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares outstanding | 53,913,701 | 53,913,701 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | $ 2,831 | $ 1,889 | $ 2,676 |
Net Income (Loss) Attributable to Parent | 2,816 | 1,883 | 2,665 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 3,613 | 3,507 | 3,229 |
Equity component of AFUDC | (164) | (135) | (157) |
FERC mitigation costs | (15) | ||
Community support and charitable contributions expense | 34 | ||
(Gains) losses on sales of other assets | (48) | (33) | (79) |
Impairment charges | 153 | 915 | 400 |
Deferred income taxes | 1,244 | 1,149 | 1,264 |
Equity in earnings of unconsolidated affiliates | (69) | (130) | (122) |
Accrued pension and other post-retirement benefit costs | 71 | 108 | 307 |
Contributions to qualified pension plans | (302) | (250) | |
Payments for asset retirement obligations | (346) | (68) | (12) |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | (29) | 44 | 1 |
Receivables | 359 | 58 | (281) |
Inventory | (237) | (269) | (31) |
Other current assets | (65) | (414) | (35) |
Increase (decrease) in [Abstract] | |||
Accounts payable | (6) | (30) | 73 |
Taxes accrued | (38) | (14) | 77 |
Other current liabilities | 168 | (201) | 24 |
Other assets | (216) | 16 | (384) |
Other liabilities | (243) | 209 | (352) |
Net cash provided by operating activities | 6,676 | 6,586 | 6,382 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | (6,766) | (5,384) | (5,526) |
Investment expenditures | (263) | (90) | (81) |
Acquisitions, net of cash acquired | (1,334) | (54) | |
Purchases of available-for-sale securities | (4,037) | (4,110) | (6,142) |
Proceeds from sales and maturities of available-for-sale securities | 4,040 | 4,133 | 6,315 |
Net proceeds from the sale of Midwest generation business and sales of equity investments and other assets | 2,968 | 179 | 277 |
Change in Restricted Cash | 191 | 9 | 167 |
Other | (76) | (56) | 12 |
Net cash used in investing activities | (5,277) | (5,373) | (4,978) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 2,955 | 2,914 | 3,601 |
Proceeds from the issuance of common stock related to employee benefit plans | 17 | 25 | 9 |
Payments for the redemption of long-term debt | (3,029) | (3,037) | (2,761) |
Payments for the redemption of preferred stock | (96) | ||
Proceeds from issuance of short-term debt with original maturities greater than 90 days | 379 | 1,066 | |
Payments for the redemption of short-term debt with original maturities greater than 90 days | (931) | (564) | |
Notes payable and commercial paper | 1,797 | 1,186 | 93 |
Distributions to noncontrolling interests | (9) | (65) | (15) |
Contributions from noncontrolling Interests | 9 | ||
Dividends paid | (2,254) | (2,234) | (2,188) |
Repurchase of common shares | (1,500) | ||
Other | (3) | 31 | 21 |
Net cash provided by (used in) financing activities | (2,578) | (678) | (1,327) |
Net increase (decrease) in cash and cash equivalents | (1,179) | 535 | 77 |
Cash and cash equivalents at beginning of period | 2,036 | 1,501 | 1,424 |
Cash and cash equivalents at end of period | 857 | 2,036 | 1,501 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 1,607 | 1,659 | 1,665 |
Cash paid for (received from) income taxes | 170 | 158 | (202) |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 771 | 664 | 594 |
Duke Energy Carolinas [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 1,081 | 1,072 | |
Net Income (Loss) Attributable to Parent | 1,081 | 1,072 | 976 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,361 | 1,273 | 1,167 |
Equity component of AFUDC | (96) | (91) | (91) |
FERC mitigation costs | 3 | 14 | |
(Gains) losses on sales of other assets | 1 | ||
Impairment charges | 1 | ||
Deferred income taxes | 397 | 376 | 534 |
Accrued pension and other post-retirement benefit costs | 15 | 22 | 38 |
Contributions to qualified pension plans | (91) | ||
Payments for asset retirement obligations | (167) | ||
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | (9) | ||
Receivables | 42 | 48 | (12) |
Receivables from affiliated companies | (32) | (72) | |
Inventory | (157) | (60) | (9) |
Other current assets | (51) | (236) | (1) |
Increase (decrease) in [Abstract] | |||
Accounts payable | (4) | 10 | 58 |
Accounts payable to affiliated companies | 75 | (7) | 33 |
Taxes accrued | (128) | (15) | 4 |
Other current liabilities | 127 | (10) | (40) |
Other assets | 76 | 17 | (102) |
Other liabilities | (77) | (22) | (77) |
Net cash provided by operating activities | 2,373 | 2,380 | 2,411 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | (1,933) | (1,879) | (1,695) |
Purchases of available-for-sale securities | (2,555) | (2,064) | (2,405) |
Proceeds from sales and maturities of available-for-sale securities | 2,555 | 2,044 | 2,363 |
Notes receivable from affiliated companies | 72 | 160 | |
Notes receivable from affiliated companies payments | (13) | ||
Other | (35) | (18) | (24) |
Net cash used in investing activities | (1,981) | (1,845) | (1,601) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 516 | 100 | |
Payments for the redemption of long-term debt | (506) | (45) | (405) |
Distribution to parent | (401) | (500) | (499) |
Other | (1) | (2) | |
Net cash provided by (used in) financing activities | (392) | (545) | (806) |
Net increase (decrease) in cash and cash equivalents | (10) | 4 | |
Cash and cash equivalents at beginning of period | 13 | 23 | 19 |
Cash and cash equivalents at end of period | 13 | 13 | 23 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 389 | 388 | 336 |
Cash paid for (received from) income taxes | 342 | 305 | (7) |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 239 | 194 | 199 |
Progress Energy [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 1,062 | 874 | 675 |
Net Income (Loss) Attributable to Parent | 1,051 | 869 | 672 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,312 | 1,313 | 1,041 |
Equity component of AFUDC | (54) | (26) | (50) |
FERC mitigation costs | (18) | ||
Community support and charitable contributions expense | 20 | ||
(Gains) losses on sales of other assets | (31) | (6) | 2 |
Impairment charges | 12 | 2 | 380 |
Deferred income taxes | 714 | 1,014 | 616 |
Accrued pension and other post-retirement benefit costs | (5) | 27 | 172 |
Contributions to qualified pension plans | (83) | (250) | |
Payments for asset retirement obligations | (156) | (68) | (12) |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | (6) | 12 | 55 |
Receivables | 105 | (31) | (148) |
Receivables from affiliated companies | (316) | (56) | 11 |
Inventory | (67) | (101) | 17 |
Other current assets | 553 | (934) | (156) |
Increase (decrease) in [Abstract] | |||
Accounts payable | (193) | 6 | (81) |
Accounts payable to affiliated companies | 108 | 80 | 93 |
Taxes accrued | (63) | (20) | 22 |
Other current liabilities | 136 | (144) | 61 |
Other assets | (167) | (14) | (243) |
Other liabilities | (112) | 56 | (103) |
Net cash provided by operating activities | 2,749 | 1,966 | 2,122 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | (2,698) | (1,940) | (2,490) |
Asset Acquisition | (1,249) | ||
Purchases of available-for-sale securities | (1,174) | (1,689) | (2,558) |
Proceeds from sales and maturities of available-for-sale securities | 1,211 | 1,652 | 2,513 |
Proceeds from the sale of nuclear fuel | 102 | ||
Notes receivable from affiliated companies | 220 | ||
Notes receivable from affiliated companies payments | (145) | (75) | |
Other | (34) | (44) | 13 |
Net cash used in investing activities | (3,622) | (2,166) | (2,597) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 1,186 | 1,572 | 845 |
Payments for the redemption of long-term debt | (1,553) | (931) | (1,196) |
Payments for the redemption of preferred stock | (96) | ||
Notes payable to affiliated companies | 623 | (378) | 758 |
Distributions to noncontrolling interests | (4) | (37) | (3) |
Capital contribution from parent | 625 | ||
Other | (2) | (42) | (6) |
Net cash provided by (used in) financing activities | 875 | 184 | 302 |
Net increase (decrease) in cash and cash equivalents | 2 | (16) | (173) |
Cash and cash equivalents at beginning of period | 42 | 58 | 231 |
Cash and cash equivalents at end of period | 44 | 42 | 58 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 649 | 664 | 678 |
Cash paid for (received from) income taxes | (426) | 141 | (167) |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 329 | 294 | 255 |
Duke Energy Progress [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 566 | 467 | 500 |
Net Income (Loss) Attributable to Parent | 566 | 467 | 500 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 821 | 761 | 685 |
Equity component of AFUDC | (47) | (25) | (42) |
FERC mitigation costs | (18) | ||
Community support and charitable contributions expense | 20 | ||
(Gains) losses on sales of other assets | (7) | (3) | (1) |
Impairment charges | 5 | 22 | |
Deferred income taxes | 354 | 455 | 368 |
Accrued pension and other post-retirement benefit costs | (14) | (7) | 72 |
Contributions to qualified pension plans | (42) | (63) | |
Payments for asset retirement obligations | (109) | ||
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | (3) | 13 | (9) |
Receivables | 43 | 78 | (88) |
Receivables from affiliated companies | (6) | (8) | 3 |
Inventory | (50) | (65) | (26) |
Other current assets | 185 | (416) | (39) |
Increase (decrease) in [Abstract] | |||
Accounts payable | (65) | 27 | (18) |
Accounts payable to affiliated companies | 70 | 17 | 27 |
Taxes accrued | (34) | 10 | 15 |
Other current liabilities | 76 | (68) | (86) |
Other assets | (83) | 48 | (74) |
Other liabilities | (66) | (21) | (78) |
Net cash provided by operating activities | 1,594 | 1,245 | 1,188 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | (1,669) | (1,241) | (1,567) |
Asset Acquisition | (1,249) | ||
Purchases of available-for-sale securities | (727) | (499) | (901) |
Proceeds from sales and maturities of available-for-sale securities | 672 | 458 | 856 |
Notes receivable from affiliated companies | 237 | ||
Notes receivable from affiliated companies payments | (237) | ||
Other | (30) | (12) | 4 |
Net cash used in investing activities | (2,766) | (1,531) | (1,608) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 1,186 | 1,347 | 845 |
Payments for the redemption of long-term debt | (991) | (379) | (451) |
Payments for the redemption of preferred stock | (62) | ||
Notes payable to affiliated companies | 359 | (462) | 98 |
Dividends to parent | (225) | ||
Capital contribution from parent | 626 | ||
Other | (2) | (7) | (7) |
Net cash provided by (used in) financing activities | 1,178 | 274 | 423 |
Net increase (decrease) in cash and cash equivalents | 6 | (12) | 3 |
Cash and cash equivalents at beginning of period | 9 | 21 | 18 |
Cash and cash equivalents at end of period | 15 | 9 | 21 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 218 | 220 | 217 |
Cash paid for (received from) income taxes | (197) | 81 | (94) |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 143 | 194 | 166 |
Duke Energy Florida [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 599 | 548 | 325 |
Net Income (Loss) Attributable to Parent | 599 | 548 | 325 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 480 | 550 | 335 |
Equity component of AFUDC | (7) | (8) | |
(Gains) losses on sales of other assets | (1) | (1) | |
Impairment charges | 7 | 2 | 358 |
Deferred income taxes | 348 | 400 | 368 |
Accrued pension and other post-retirement benefit costs | 5 | 29 | 79 |
Contributions to qualified pension plans | (40) | (133) | |
Payments for asset retirement obligations | (47) | (68) | (12) |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | (3) | (9) | 55 |
Receivables | 61 | (33) | (44) |
Receivables from affiliated companies | (44) | (37) | 17 |
Inventory | (17) | (36) | 42 |
Other current assets | 116 | (269) | (109) |
Increase (decrease) in [Abstract] | |||
Accounts payable | (127) | 18 | (22) |
Accounts payable to affiliated companies | 46 | 32 | (6) |
Taxes accrued | 67 | (31) | 18 |
Other current liabilities | 57 | (80) | 159 |
Other assets | (84) | (59) | (154) |
Other liabilities | (44) | 10 | (62) |
Net cash provided by operating activities | 1,373 | 966 | 1,205 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | (1,029) | (699) | (915) |
Asset Acquisition | (166) | ||
Purchases of available-for-sale securities | (447) | (1,189) | (1,656) |
Proceeds from sales and maturities of available-for-sale securities | 538 | 1,195 | 1,658 |
Proceeds from the sale of nuclear fuel | 102 | ||
Notes receivable from affiliated companies | 207 | ||
Other | (3) | (31) | |
Net cash used in investing activities | (839) | (724) | (706) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 225 | ||
Payments for the redemption of long-term debt | (562) | (252) | (435) |
Payments for the redemption of preferred stock | (34) | ||
Notes payable to affiliated companies | 729 | (97) | 181 |
Dividends to parent | (350) | (124) | (325) |
Distribution to parent | (350) | ||
Other | (1) | (2) | (1) |
Net cash provided by (used in) financing activities | (534) | (250) | (614) |
Net increase (decrease) in cash and cash equivalents | (8) | (115) | |
Cash and cash equivalents at beginning of period | 8 | 16 | 131 |
Cash and cash equivalents at end of period | 8 | 8 | 16 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 205 | 203 | 201 |
Cash paid for (received from) income taxes | (229) | 59 | (84) |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 186 | 100 | 88 |
Duke Energy Ohio [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 172 | (495) | 102 |
Net Income (Loss) Attributable to Parent | 172 | (495) | 102 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 230 | 258 | 357 |
Equity component of AFUDC | (3) | (4) | (1) |
(Gains) losses on sales of other assets | (8) | (1) | (5) |
Impairment charges | 40 | 941 | 5 |
Deferred income taxes | 206 | (219) | 98 |
Accrued pension and other post-retirement benefit costs | 9 | 8 | 17 |
Contributions to qualified pension plans | (8) | ||
Payments for asset retirement obligations | (4) | ||
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | (10) | 27 | 17 |
Receivables | 23 | (56) | (15) |
Receivables from affiliated companies | 23 | 14 | (39) |
Inventory | 8 | (3) | |
Other current assets | (5) | (1) | |
Increase (decrease) in [Abstract] | |||
Accounts payable | (1) | 27 | 13 |
Accounts payable to affiliated companies | (21) | (3) | 15 |
Taxes accrued | (21) | (9) | 1 |
Other current liabilities | 88 | 27 | 14 |
Other assets | 25 | (4) | (6) |
Other liabilities | (73) | (33) | (73) |
Net cash provided by operating activities | 667 | 481 | 496 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | (399) | (322) | (434) |
Net proceeds from the sale of Midwest generation business and sales of equity investments and other assets | 11 | ||
Notes receivable from affiliated companies | 145 | ||
Notes receivable from affiliated companies payments | (88) | (56) | |
Other | (15) | (12) | 1 |
Net cash used in investing activities | (269) | (422) | (478) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 450 | ||
Payments for the redemption of long-term debt | (157) | (449) | (258) |
Notes payable to affiliated companies | (95) | 473 | (202) |
Dividends to parent | (150) | (100) | |
Other | (2) | 1 | (3) |
Net cash provided by (used in) financing activities | (404) | (75) | (13) |
Net increase (decrease) in cash and cash equivalents | (6) | (16) | 5 |
Cash and cash equivalents at beginning of period | 20 | 36 | 31 |
Cash and cash equivalents at end of period | 14 | 20 | 36 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 76 | 76 | 71 |
Cash paid for (received from) income taxes | 410 | (5) | 9 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 20 | 24 | 27 |
Distribution of membership interest of Duke Energy SAM, LLC to parent | 1,912 | ||
Duke Energy Indiana [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 316 | 359 | |
Net Income (Loss) Attributable to Parent | 316 | 359 | 358 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 439 | 416 | 346 |
Equity component of AFUDC | (11) | (14) | (15) |
(Gains) losses on sales of other assets | (1) | ||
Impairment charges | 88 | ||
Deferred income taxes | 262 | 308 | 304 |
Accrued pension and other post-retirement benefit costs | 13 | 16 | 25 |
Contributions to qualified pension plans | (19) | ||
Payments for asset retirement obligations | (19) | ||
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | (30) | ||
Receivables | (7) | (35) | 3 |
Receivables from affiliated companies | 44 | 36 | (47) |
Inventory | (21) | (103) | (53) |
Other current assets | 90 | (8) | (40) |
Increase (decrease) in [Abstract] | |||
Accounts payable | 33 | (41) | 32 |
Accounts payable to affiliated companies | 25 | 2 | (4) |
Taxes accrued | 35 | (32) | (30) |
Other current liabilities | 26 | 5 | (5) |
Other assets | (82) | (21) | (16) |
Other liabilities | (35) | 17 | (84) |
Net cash provided by operating activities | 1,176 | 905 | 744 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | (690) | (625) | (545) |
Purchases of available-for-sale securities | (9) | (20) | (11) |
Proceeds from sales and maturities of available-for-sale securities | 11 | 16 | 7 |
Net proceeds from the sale of Midwest generation business and sales of equity investments and other assets | 17 | ||
Notes receivable from affiliated companies | 96 | ||
Notes receivable from affiliated companies payments | (83) | (96) | |
Other | (17) | 4 | (3) |
Net cash used in investing activities | (771) | (529) | (648) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 498 | ||
Payments for the redemption of long-term debt | (5) | (5) | (405) |
Notes payable to affiliated companies | (71) | 71 | (81) |
Dividends to parent | (326) | (450) | (125) |
Other | (1) | (4) | |
Net cash provided by (used in) financing activities | (402) | (385) | (117) |
Net increase (decrease) in cash and cash equivalents | 3 | (9) | (21) |
Cash and cash equivalents at beginning of period | 6 | 15 | 36 |
Cash and cash equivalents at end of period | 9 | 6 | 15 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 175 | 169 | 194 |
Cash paid for (received from) income taxes | (253) | (61) | 46 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | $ 64 | $ 87 | $ 73 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Millions | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Foreign Currency Adjustments [Member] | Net Gains (Losses) on Cash Flow Hedges [Member] | Net Gains (Losses) on Available for Sale Securities [Member] | Pension And OPEB Related Adjustments To AOCI [Member] | Common Stockholders' Equity [Member] | Noncontrolling Interest [Member] | Duke Energy Carolinas [Member] | Duke Energy Carolinas [Member]Members Equity [Member] | Duke Energy Carolinas [Member]Net Gains (Losses) on Cash Flow Hedges [Member] | Duke Energy Carolinas [Member]Net Gains (Losses) on Available for Sale Securities [Member] | Progress Energy [Member] | Progress Energy [Member]Additional Paid In Capital [Member] | Progress Energy [Member]Retained Earnings [Member] | Progress Energy [Member]Net Gains (Losses) on Cash Flow Hedges [Member] | Progress Energy [Member]Net Gains (Losses) on Available for Sale Securities [Member] | Progress Energy [Member]Pension And OPEB Related Adjustments To AOCI [Member] | Progress Energy [Member]Common Stockholders' Equity [Member] | Progress Energy [Member]Noncontrolling Interest [Member] | Duke Energy Progress [Member] | Duke Energy Progress [Member]Common Stock [Member] | Duke Energy Progress [Member]Members Equity [Member] | Duke Energy Progress [Member]Retained Earnings [Member] | Duke Energy Florida [Member] | Duke Energy Florida [Member]Common Stock [Member] | Duke Energy Florida [Member]Members Equity [Member] | Duke Energy Florida [Member]Retained Earnings [Member] | Duke Energy Florida [Member]Net Gains (Losses) on Cash Flow Hedges [Member] | Duke Energy Ohio [Member] | Duke Energy Ohio [Member]Common Stock [Member] | Duke Energy Ohio [Member]Additional Paid In Capital [Member] | Duke Energy Ohio [Member]Retained Earnings [Member] | Duke Energy Ohio [Member]Pension And OPEB Related Adjustments To AOCI [Member] | Duke Energy Indiana [Member] | Duke Energy Indiana [Member]Common Stock [Member] | Duke Energy Indiana [Member]Additional Paid In Capital [Member] | Duke Energy Indiana [Member]Retained Earnings [Member] | Duke Energy Indiana [Member]Net Gains (Losses) on Cash Flow Hedges [Member] | |
Balance at Dec. 31, 2012 | $ 40,941 | $ 1 | $ 39,279 | $ 1,889 | $ (116) | $ (100) | $ (90) | $ 40,863 | $ 78 | $ 10,185 | $ 7,465 | $ 2,783 | $ (42) | $ (25) | $ 10,181 | $ 4 | $ 5,127 | $ 2,159 | $ 2,968 | $ 4,799 | $ 1,762 | $ 3,037 | $ 5,166 | $ 762 | $ 4,882 | $ (477) | $ (1) | $ 3,708 | $ 1 | $ 1,384 | $ 2,318 | $ 5 | ||||||||||
Balance (in shares) at Dec. 31, 2012 | 704,000,000 | |||||||||||||||||||||||||||||||||||||||||
Beginning member's equity at Dec. 31, 2012 | $ 9,872 | $ 9,888 | $ (15) | $ (1) | ||||||||||||||||||||||||||||||||||||||
Net income | 2,676 | 2,665 | 2,665 | 11 | 675 | 672 | 672 | 3 | 500 | 325 | 102 | |||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 2,665 | 976 | 976 | 672 | 500 | 500 | 325 | 325 | 102 | 102 | 358 | 358 | ||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (99) | (191) | 60 | 38 | (93) | (6) | 1 | 1 | 8 | (1) | 9 | 8 | (1) | $ (1) | 1 | $ 1 | (2) | (2) | ||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits (in shares) | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits | 86 | 86 | 86 | |||||||||||||||||||||||||||||||||||||||
Common stock dividends | (2,188) | (2,188) | (2,188) | (325) | (325) | (125) | (125) | |||||||||||||||||||||||||||||||||||
Premium on the redemption of preferred stock of subsidiaries | (3) | (3) | (3) | (3) | (3) | (3) | (2) | (2) | (1) | (1) | ||||||||||||||||||||||||||||||||
Contributions from noncontrolling Interests | 9 | 9 | ||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (14) | (14) | (3) | (3) | ||||||||||||||||||||||||||||||||||||||
Distribution to parent | (499) | (499) | ||||||||||||||||||||||||||||||||||||||||
Other | 2 | 2 | 2 | |||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2013 | 41,408 | $ 1 | 39,365 | 2,363 | (307) | (40) | (52) | 41,330 | 78 | 10,864 | 7,467 | 3,452 | (43) | (16) | 10,860 | 4 | 5,625 | 2,159 | 3,466 | 4,797 | 1,762 | 3,036 | (1) | 5,269 | 762 | 4,882 | (375) | 3,939 | 1 | 1,384 | 2,551 | 3 | ||||||||||
Balance (in shares) at Dec. 31, 2013 | 706,000,000 | |||||||||||||||||||||||||||||||||||||||||
Ending member's equity at Dec. 31, 2013 | 10,350 | 10,365 | (14) | (1) | ||||||||||||||||||||||||||||||||||||||
Net income | 1,889 | 1,883 | 1,883 | 6 | 1,072 | 874 | 869 | 869 | 5 | 467 | 548 | (495) | 359 | |||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 1,883 | 1,072 | 1,072 | 869 | 467 | 467 | 548 | 548 | (495) | (495) | 359 | 359 | ||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (136) | (132) | (19) | $ 3 | 4 | (144) | 8 | 2 | 2 | 18 | 8 | $ 1 | 9 | 18 | 1 | $ 1 | ||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits (in shares) | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits | 40 | 40 | 40 | |||||||||||||||||||||||||||||||||||||||
Common stock dividends | (2,234) | (2,234) | (2,234) | (225) | (225) | (124) | (124) | (100) | (100) | (450) | (450) | |||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (65) | (65) | [1] | (37) | (37) | |||||||||||||||||||||||||||||||||||||
Transfer of service company net assets to Duke Energy | (539) | (539) | (539) | |||||||||||||||||||||||||||||||||||||||
Distribution to parent | (500) | (500) | ||||||||||||||||||||||||||||||||||||||||
Other | (3) | (3) | (4) | (4) | ||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2014 | $ 40,899 | $ 1 | 39,405 | 2,012 | (439) | (59) | 3 | (48) | 40,875 | 24 | $ 11,176 | 7,467 | 3,782 | (35) | 1 | (7) | 11,208 | (32) | $ 5,867 | 2,159 | 3,708 | $ 5,222 | 1,762 | 3,460 | $ 4,674 | 762 | 4,782 | (870) | $ 3,848 | 1 | 1,384 | 2,460 | 3 | |||||||||
Balance (in shares) at Dec. 31, 2014 | 707,000,000 | 707,000,000 | 100 | 160,000,000 | 100 | 89,663,086 | 53,913,701 | |||||||||||||||||||||||||||||||||||
Ending member's equity at Dec. 31, 2014 | 10,924 | 10,937 | (12) | (1) | ||||||||||||||||||||||||||||||||||||||
Net income | $ 2,831 | 2,816 | 2,816 | 15 | 1,081 | $ 1,062 | 1,051 | 1,051 | 11 | $ 566 | $ 599 | $ 172 | $ 316 | |||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 2,816 | 1,081 | 1,081 | 1,051 | 566 | $ 211 | 355 | 599 | $ 248 | 351 | 172 | 172 | 316 | 316 | ||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (274) | (253) | 9 | (6) | (13) | (263) | (11) | 2 | 1 | $ 1 | (7) | 4 | $ (1) | (10) | (7) | (2) | (2) | |||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits (in shares) | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits | $ 63 | 63 | 63 | |||||||||||||||||||||||||||||||||||||||
Stock repurchase, shares | (19,800,000) | (20,000,000) | ||||||||||||||||||||||||||||||||||||||||
Stock repurchase | $ (1,500) | (1,500) | (1,500) | |||||||||||||||||||||||||||||||||||||||
Common stock dividends | (2,254) | (2,254) | (2,254) | (350) | (350) | (150) | (150) | (326) | (326) | |||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (9) | (9) | (4) | (4) | ||||||||||||||||||||||||||||||||||||||
Capital contribution from parent | 625 | 625 | 625 | 626 | 626 | |||||||||||||||||||||||||||||||||||||
Distribution to parent | (401) | (401) | (350) | (350) | ||||||||||||||||||||||||||||||||||||||
Distribution of membership interest of Duke Energy SAM, LLC to parent | (1,912) | (1,912) | ||||||||||||||||||||||||||||||||||||||||
Other | 15 | (10) | (10) | 25 | [2] | 1 | (2) | (2) | 3 | $ (2,159) | 6,222 | $ (4,063) | $ (1,762) | 5,223 | $ (3,461) | |||||||||||||||||||||||||||
Balance at Dec. 31, 2015 | $ 39,771 | $ 1 | $ 37,968 | $ 2,564 | $ (692) | $ (50) | $ (3) | $ (61) | $ 39,727 | $ 44 | $ 12,853 | $ 8,092 | $ 4,831 | $ (31) | $ (17) | $ 12,875 | $ (22) | $ 7,059 | 5,121 | $ 2,784 | $ 762 | $ 2,720 | $ (698) | $ 3,836 | $ 1 | $ 1,384 | $ 2,450 | $ 1 | ||||||||||||||
Balance (in shares) at Dec. 31, 2015 | 688,000,000 | 688,000,000 | 100 | 89,663,086 | 53,913,701 | |||||||||||||||||||||||||||||||||||||
Ending member's equity at Dec. 31, 2015 | $ 11,606 | $ 11,617 | $ (11) | $ 7,059 | $ 7,059 | $ 5,121 | $ 5,121 | |||||||||||||||||||||||||||||||||||
[1] | This decrease primarily relates to cash distributions to noncontrolling interests. | |||||||||||||||||||||||||||||||||||||||||
[2] | The $25 million change in Noncontrolling Interests is primarily related to the acquisitions of a majority interest in a provider of energy management systems and services for commercial customers and a solar company. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Index to Combined Notes To Consolidated Financial Statements The notes to the consolidated financial statements are a combined presentation. The following list indicates the registrants to which the notes apply. Tables within the notes may not sum across due to Progress Energy's consolidation of Duke Energy Progress, Duke Energy Florida and other subsidiaries that are not registrants as the Duke Energy amounts include balances from subsidiaries that are not registrants. Applicable Notes Registrant 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Duke Energy Corporation • • • • • • • • • • • • • • • • • • • • • • • • Duke Energy Carolinas, LLC • • • • • • • • • • • • • • • • • • • • • Progress Energy, Inc. • • • • • • • • • • • • • • • • • • • • • • • Duke Energy Progress, LLC • • • • • • • • • • • • • • • • • • • • • • Duke Energy Florida, LLC • • • • • • • • • • • • • • • • • • • • • • Duke Energy Ohio, Inc. • • • • • • • • • • • • • • • • • • • • • Duke Energy Indiana, Inc. • • • • • • • • • • • • • • • • • • • • • SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Basis of Consolidation Duke Energy Corporation (collectively with its subsidiaries, Duke Energy) is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the Federal Energy Regulatory Commission (FERC). Duke Energy operates in the United States (U.S.) and Latin America primarily through its direct and indirect subsidiaries. Duke Energy’s subsidiaries include its subsidiary registrants, Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc. (Progress Energy); Duke Energy Progress, LLC (formerly Duke Energy Progress, Inc.) (Duke Energy Progress); Duke Energy Florida, LLC (formerly Duke Energy Florida, Inc.) (Duke Energy Florida); Duke Energy Ohio, Inc. (Duke Energy Ohio) and Duke Energy Indiana, Inc. (subsequently Duke Energy Indiana, LLC) (Duke Energy Indiana). When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its six separate subsidiary registrants (collectively referred to as the Subsidiary Registrants), which, along with Duke Energy, are collectively referred to as the Duke Energy Registrants (Duke Energy Registrants). The information in these combined notes relate to each of the Duke Energy Registrants as noted in the Index to the Combined Notes to Consolidated Financial Statements. However, none of the registrants makes any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself. These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries where the respective Duke Energy Registrants have control. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the North Carolina Utilities Commission (NCUC), Public Service Commission of South Carolina (PSCSC), U.S. Nuclear Regulatory Commission (NRC) and FERC. Substantially all of Duke Energy Carolinas’ operations qualify for regulatory accounting. Progress Energy is a public utility holding company headquartered in Raleigh, North Carolina, subject to regulation by the FERC. Progress Energy conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Substantially all of Progress Energy’s operations qualify for regulatory accounting. Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC. Substantially all of Duke Energy Progress’ operations qualify for regulatory accounting. On August 1, 2015, Duke Energy Progress, a North Carolina corporation, converted into a North Carolina limited liability company. Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the Florida Public Service Commission (FPSC), NRC and FERC. Substantially all of Duke Energy Florida’s operations qualify for regulatory accounting. On August 1, 2015, Duke Energy Florida, a Florida corporation, converted into a Florida limited liability company. Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in portions of Ohio and Kentucky, the generation and sale of electricity in portions of Kentucky and the transportation and sale of natural gas in portions of Ohio and Kentucky. Duke Energy Ohio also conducts competitive auctions for retail electricity supply in Ohio whereby recovery of the energy price is from retail customers and recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky, Inc. (Duke Energy Kentucky). References herein to Duke Energy Ohio include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the Public Utilities Commission of Ohio (PUCO), Kentucky Public Service Commission (KPSC) and FERC. On April 2, 2015, Duke Energy completed the sale of its nonregulated Midwest generation business, which sold power into wholesale energy markets, to a subsidiary of Dynegy Inc. (Dynegy). For further information about the sale of the Midwest Generation business, refer to Note 2 "Acquisitions and Dispositions." Substantially all of Duke Energy Ohio's operations that remain after the sale qualify for regulatory accounting. Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the Indiana Utility Regulatory Commission (IURC) and FERC. Substantially all of Duke Energy Indiana’s operations qualify for regulatory accounting. On January 1, 2016, Duke Energy Indiana, an Indiana corporation, converted into an Indiana limited liability company. Certain prior year amounts have been reclassified to conform to the current year presentation. Other Current Assets and Liabilities The following table provides detail of amounts included in Other within Current Assets or Current Liabilities on the Consolidated Balance Sheets. December 31, (in millions) Location 2015 2014 Duke Energy Accrued compensation Current Liabilities $ 621 $ 638 Duke Energy Carolinas Accrued compensation Current Liabilities $ 213 $ 216 Collateral liabilities Current Liabilities 141 128 Progress Energy Income taxes receivable Current Assets $ 129 $ 718 Customer deposits Current Liabilities 373 360 Derivative liabilities Current Liabilities 201 271 Duke Energy Progress Income taxes receivable Current Assets $ 111 $ 272 Customer deposits Current Liabilities 141 135 Accrued compensation Current Liabilities 108 116 Derivative liabilities Current Liabilities 76 108 Duke Energy Florida Income taxes receivable Current Assets $ — $ 177 Customer deposits Current Liabilities 232 225 Derivative liabilities Current Liabilities 125 163 Duke Energy Ohio Income taxes receivable Current Assets $ 59 $ 40 Other receivable Current Assets 33 39 Accrued litigation reserve Current Liabilities 80 — Collateral Liabilities Current Liabilities 48 $ 42 Duke Energy Indiana Income taxes receivable Current Assets $ — $ 98 Collateral liabilities Current Liabilities 44 43 The current portion of deferred tax assets is included within Other in Current Assets at December 31, 2014. Due to the adoption of new accounting guidance issued by the Financial Accounting Standards Board (FASB) related to the balance sheet classification of deferred taxes, all deferred tax assets and liabilities are classified as noncurrent at December 31, 2015. See Note 22 for information related to the presentation of deferred tax assets and liabilities on the Consolidated Balance Sheets. Discontinued Operations The results of operations of the nonregulated Midwest generation business have been classified as Discontinued Operations on the Consolidated Statements of Operations. Duke Energy has elected to present cash flows of discontinued operations combined with cash flows of continuing operations. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented, assets held for sale and liabilities associated with assets held for sale as of December 31, 2014. See Note 2 for additional information. For the year ended December 31, 2015, Duke Energy's Income from Discontinued Operations, net of tax was primarily related to results of operations of the nonregulated Midwest generation business and Duke Energy Retail Sales, LLC (collectively, the Disposal Group) prior to its sale on April 2, 2015, partially offset by a charge for a litigation reserve related to the Disposal Group. For the year ended December 31, 2014, Duke Energy’s Loss from Discontinued Operations, net of tax was primarily related to a write-down of the carrying amount of the assets to the estimated fair value of the Disposal Group, based on the transaction price included in the purchase sale agreement, and the operations of the Disposal Group. For the years ended December 31, 2013, Duke Energy’s Income From Discontinued Operations, net of tax was primarily related to the operations of the Disposal Group. See Note 2 for additional information. For the years ended December 31, 2015 , 2014 and 2013, Progress Energy’s (Loss) Income From Discontinued Operations, net of tax was primarily due to tax impacts related to prior sales of diversified businesses. Amounts Attributable to Controlling Interests For the year ended December 31, 2015, the amount of Income from Discontinued Operations, net of tax presented on the Consolidated Statements of Operations is fully attributable to controlling interests. During 2014, Duke Energy and Progress Energy's amount of Income (Loss) from Discontinued Operations, net of tax presented on the Consolidated Statements of Operations includes amounts attributable to noncontrolling interest. The following table presents Net Income Attributable to Duke Energy Corporation for continuing operations and discontinued operations for the years ended December 31, 2014 and 2013. Years ended December 31, 2014 2013 Duke Progress Duke Progress (in millions) Energy Energy Energy Energy Income from Continuing Operations $ 2,465 $ 880 2,590 659 Income from Continuing Operations Attributable to Noncontrolling Interests 14 5 16 3 Income from Continuing Operations Attributable to Duke Energy Corporation $ 2,451 $ 875 $ 2,574 $ 656 (Loss) Income From Discontinued Operations, net of tax $ (576 ) $ (6 ) 86 16 Loss from Discontinued Operations Attributable to Noncontrolling Interests, net of tax (8 ) — (5 ) — (Loss) Income From Discontinued Operations Attributable to Duke Energy Corporation, net of tax $ (568 ) $ (6 ) $ 91 $ 16 Net Income $ 1,889 $ 874 $ 2,676 $ 675 Net Income Attributable to Noncontrolling Interests 6 5 11 3 Net Income Attributable to Duke Energy Corporation $ 1,883 $ 869 $ 2,665 $ 672 Significant Accounting Policies Use of Estimates In preparing financial statements that conform to generally accepted accounting principles (GAAP) in the U.S., the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. Regulatory Accounting The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, Regulatory assets and Regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. See Note 4 for further information. Regulatory accounting rules also require recognition of a disallowance (also called "impairment") loss if it becomes probable that part of the cost of a plant under construction (or a recently completed plant or an abandoned plant) will be disallowed for ratemaking purposes and a reasonable estimate of the amount of the disallowance can be made. Other disallowances can require judgments on allowed future rate recovery. When it becomes probable that regulated generation, transmission or distribution assets will be abandoned, the cost of the asset is removed from plant in service. The value that may be retained as a regulatory asset on the balance sheet for the abandoned property is dependent upon amounts that may be recovered through regulated rates, including any return. As such, an impairment charge could be offset by the establishment of a regulatory asset if rate recovery is probable. The impairment for a disallowance of costs for regulated plants under construction, recently completed or abandoned is based on discounted cash flows. Regulated Fuel Costs and Purchased Power The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses. These clauses allow for the recovery of fuel and fuel-related costs and portions of purchased power costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded either as an adjustment to Operating Revenues – Regulated electric or Operating Expenses – Fuel used in electric generation on the Consolidated Statements of Operations with an off-setting impact on regulatory assets or liabilities. Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. At December 31, 2015 , $534 million of Duke Energy’s total cash and cash equivalents is held by entities domiciled in foreign jurisdictions. During the fourth quarter of 2014, Duke Energy declared a taxable dividend of historical foreign earnings in the form of notes payable that will result in the repatriation of approximately $2.7 billion in cash held and expected to be generated by International Energy over a period of up to eight years . Approximately $1.5 billion was remitted in 2015. See Note 22 to the Consolidated Financial Statements, “Income Taxes,” for additional information. Restricted Cash The Duke Energy Registrants have restricted cash related primarily to collateral assets, escrow deposits and variable interest entities (VIEs). Restricted cash balances are reflected in Other within Current Assets and in Other within Investments and Other Assets on the Consolidated Balance Sheets. At December 31, 2015 and 2014 , Duke Energy had restricted cash totaling $108 million and $298 million , respectively. Inventory Inventory is used for operations and is recorded primarily using the average cost method. Inventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Materials and supplies are recorded as inventory when purchased and subsequently charged to expense or capitalized to property, plant and equipment when installed. Reserves are established for excess and obsolete inventory. Inventory reserves were not material at December 31, 2015 and 2014. The components of inventory are presented in the tables below. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Materials and supplies $ 2,389 $ 785 $ 1,133 $ 776 $ 357 $ 81 $ 301 Coal held for electric generation 1,114 451 370 192 178 16 267 Oil, gas and other fuel held for electric generation 307 40 248 120 128 8 2 Total inventory $ 3,810 $ 1,276 $ 1,751 $ 1,088 $ 663 $ 105 $ 570 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Materials and supplies $ 2,102 $ 719 $ 981 $ 676 $ 305 $ 67 $ 258 Coal held for electric generation 997 362 329 150 178 21 275 Oil, gas and other fuel held for electric generation 360 43 280 140 140 9 4 Total inventory $ 3,459 $ 1,124 $ 1,590 $ 966 $ 623 $ 97 $ 537 Investments in Debt and Equity Securities The Duke Energy Registrants classify investments into two categories – trading and available-for-sale. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on trading securities are included in earnings. For certain investments of regulated operations such as the Nuclear Decommissioning Trust Fund (NDTF), realized and unrealized gains and losses (including any other-than-temporary impairments) on available-for-sale securities are recorded as a regulatory asset or liability. Otherwise, unrealized gains and losses are included in Accumulated Other Comprehensive Income (AOCI), unless other-than-temporarily impaired. Other-than-temporary impairments for equity securities and the credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity. See Note 15 for further information. Goodwill and Intangible Assets Goodwill Duke Energy, Progress Energy and Duke Energy Ohio perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be an operating segment or one level below. Duke Energy, Progress Energy and Duke Energy Ohio update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. Intangible Assets Intangible assets are included in Other in Investments and Other Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed, or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization on the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced. Emission allowances permit the holder of the allowance to emit certain gaseous byproducts of fossil fuel combustion, including sulfur dioxide (SO 2 ) and nitrogen oxide (NO X ). Allowances are issued by the U.S. Environmental Protection Agency (EPA) at zero cost and may also be bought and sold via third-party transactions. Allowances allocated to or acquired by the Duke Energy Registrants are held primarily for consumption. Carrying amounts for emission allowances are based on the cost to acquire the allowances or, in the case of a business combination, on the fair value assigned in the allocation of the purchase price of the acquired business. Emission allowances are expensed to Fuel used in electric generation and purchased power – regulated on the Consolidated Statements of Operations. Renewable energy certificates are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 11 for further information. Long-Lived Asset Impairments The Duke Energy Registrants evaluate long-lived assets, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written-down to its then-current estimated fair value and an impairment charge is recognized. The Duke Energy Registrants assess fair value of long-lived assets using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisers. Significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset are generally viewed as triggering events to reassess cash flows. Property, Plant and Equipment Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized” for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows. Years Ended December 31, 2015 2014 2013 Duke Energy 2.9 % 2.8 % 2.8 % Duke Energy Carolinas 2.8 % 2.7 % 2.8 % Progress Energy 2.6 % 2.5 % 2.5 % Duke Energy Progress 2.6 % 2.5 % 2.5 % Duke Energy Florida 2.7 % 2.7 % 2.4 % Duke Energy Ohio 2.7 % 2.3 % 3.3 % Duke Energy Indiana 3.0 % 3.0 % 2.8 % In general, when the Duke Energy Registrants retire regulated property, plant and equipment, original cost plus the cost of retirement, less salvage value, is charged to accumulated depreciation. However, when it becomes probable a regulated asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Generation facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory Assets on the Consolidated Balance Sheets. The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate. When the Duke Energy Registrants sell entire regulated operating units, or retire or sell nonregulated properties, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. See Note 10 for further information. Nuclear Fuel Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets, except for Duke Energy Florida. Refer to Note 4, “Regulatory Matters,” for additional information on Crystal River Unit 3 investments, including nuclear fuel. Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power – regulated in the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method. Allowance for Funds Used During Construction and Interest Capitalized For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets. AFUDC equity, a permanent difference for income taxes, reduces the effective tax rate when capitalized and increases the effective tax rate when depreciated or amortized. See Note 22 for additional information. For nonregulated operations, interest is capitalized during the construction phase with an offsetting non-cash credit to Interest Expense on the Consolidated Statements of Operations. Asset Retirement Obligations Asset retirement obligations are recognized for legal obligations associated with the retirement of property, plant and equipment. Substantially all asset retirement obligations are related to regulated operations. When recording an asset retirement obligation, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset. The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the asset retirement obligation for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are all deferred as a regulatory asset or liability. Obligations for nuclear decommissioning are based on-site-specific cost studies. Duke Energy Carolinas and Duke Energy Progress assume prompt dismantlement of the nuclear facilities after operations are ceased. Duke Energy Florida assumes Crystal River Unit 3 will be placed into a safe storage configuration until eventual dismantlement is completed by 2074. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida also assume that spent fuel will be stored on-site until such time that it can be transferred to a U.S. Department of Energy (DOE) facility. Obligations for closure of ash basins are based upon discounted cash flows of estimated costs for site specific plans, if known, or probability weightings of the potential closure methods if the closure plans are under development and multiple closure options are being considered and evaluated on a site-by-site basis. See Note 9 for additional information. Revenue Recognition and Unbilled Revenue Revenues on sales of electricity and gas are recognized when service is provided or the product is delivered. Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy delivered but not yet billed. Unbilled revenues can vary significantly from period to period as a result of seasonality, weather, customer usage patterns, customer mix, average price in effect for customer classes, timing of rendering customer bills and meter reading schedules. Unbilled revenues are included within Receivables and Restricted receivables of variable interest entities on the Consolidated Balance Sheets as shown in the following table. This table excludes amounts included in assets held for sale (AHFS) at December 31, 2014. December 31, (in millions) 2015 2014 Duke Energy $ 748 $ 827 Duke Energy Carolinas 283 295 Progress Energy 172 217 Duke Energy Progress 102 135 Duke Energy Florida 70 82 Duke Energy Ohio 3 — Duke Energy Indiana 31 27 Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. These receivables for unbilled revenues are shown in the table below. December 31, (in millions) 2015 2014 Duke Energy Ohio $ 71 $ 79 Duke Energy Indiana 97 112 Allowance for Doubtful Accounts Allowances for doubtful accounts are presented in the following table. December 31, (in millions) 2015 2014 2013 Allowance for Doubtful Accounts Duke Energy $ 18 17 30 Duke Energy Carolinas 3 3 3 Progress Energy 6 8 14 Duke Energy Progress 4 7 10 Duke Energy Florida 2 2 4 Duke Energy Ohio 2 2 2 Duke Energy Indiana 1 1 1 Allowance for Doubtful Accounts – VIEs Duke Energy $ 53 51 43 Duke Energy Carolinas 7 6 6 Progress Energy 8 8 — Duke Energy Progress 5 5 — Duke Energy Florida 3 3 — Derivatives and Hedging Derivative and non-derivative instruments may be used in connection with commodity price, interest rate and foreign currency risk management activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the normal purchase/normal sale (NPNS) exception, are recorded on the Consolidated Balance Sheets at fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact. Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items. See Note 14 for further information. Captive Insurance Reserves Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for various business risks and losses, such as property, workers |
Acquisitions and Dispositions
Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Acquisitions and Dispositions | ACQUISITIONS AND DISPOSITIONS ACQUISITIONS The Duke Energy Registrants consolidate assets and liabilities from acquisitions as of the purchase date, and include earnings from acquisitions in consolidated earnings after the purchase date. Acquisition of Piedmont Natural Gas On October 24, 2015, Duke Energy entered into an Agreement and Plan of Merger (Merger Agreement) with Piedmont Natural Gas Company, Inc. (Piedmont), a North Carolina corporation. Under the terms of the Merger Agreement, Duke Energy will acquire Piedmont for $4.9 billion in cash. Upon closing, Piedmont will become a wholly owned subsidiary of Duke Energy. Pursuant to the Merger Agreement, upon the closing of the merger, each share of Piedmont common stock issued and outstanding immediately prior to the closing will be converted automatically into the right to receive $60 in cash per share. In addition, Duke Energy will assume Piedmont's existing debt, which was approximately $1.9 billion at October 31, 2015, the end of Piedmont's most recent fiscal year. Duke Energy expects to finance the transaction with a combination of debt, equity issuances and other cash sources. As of December 31, 2015, Duke Energy entered into $900 million of forward starting interest rate swaps to lock in components of interest rates for the expected financing. The change in the fair value of the swaps from inception to December 31, 2015, was not material. For additional information on the forward-starting swaps, see Note 14. In connection with the Merger Agreement with Piedmont, Duke Energy entered into a $4.9 billion senior unsecured bridge financing facility (Bridge Facility) with Barclays Capital, Inc. (Barclays). The Bridge Facility, if drawn upon, may be used to (i) fund the cash consideration for the transaction and (ii) pay certain fees and expenses in connection with the transaction. In November 2015, Barclays syndicated its commitment under the Bridge Facility to a broader group of lenders. Duke Energy does not expect to draw upon the Bridge Facility. The Federal Trade Commission (FTC) has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act of 1976. On January 22, 2016, shareholders of Piedmont Natural Gas approved the company's acquisition by Duke Energy. On January 15, 2016, Duke Energy filed for approval of the transaction and associated financing requests with the NCUC. On January 29, 2016, the NCUC approved the financing requests. On January 15, 2016, Duke Energy and Piedmont filed a joint request with the Tennessee Regulatory Authority for approval of a change in control of Piedmont that will result from Duke Energy's acquisition of Piedmont. In that request, Duke Energy and Piedmont requested that the Authority approve the change in control on or before April 30, 2016. Subject to receipt of required regulatory approvals and meeting closing conditions, Duke Energy and Piedmont target a closing by the end of 2016. On December 11, 2015, Duke Energy Kentucky filed a declaratory request with the KPSC seeking a finding that the transaction does not constitute a change in control of Duke Energy Kentucky requiring KPSC approval. Duke Energy also presented the transaction for information before the PSCSC on January 13, 2016. The Merger Agreement contains certain termination rights for both Duke Energy and Piedmont, and provides that, upon termination of the Merger Agreement under specified circumstances, Duke Energy would be required to pay a termination fee of $250 million to Piedmont and Piedmont would be required to pay Duke Energy a termination fee of $125 million . See Note 4 for additional information regarding Duke Energy and Piedmont's joint investment in Atlantic Coast Pipeline, LLC (ACP). Purchase of NCEMPA's Generation On July 31, 2015, Duke Energy Progress completed the purchase of North Carolina Eastern Municipal Power Agency’s (NCEMPA) ownership interests in certain generating assets, fuel and spare parts inventory jointly owned with and operated by Duke Energy Progress for approximately $1.25 billion . This purchase was accounted for as an asset acquisition. The purchase resulted in the acquisition of a total of approximately 700 megawatts (MW) of generating capacity at Brunswick Nuclear Plant, Shearon Harris Nuclear Plant, Mayo Steam Plant and Roxboro Steam Plant. In connection with this transaction, Duke Energy Progress and NCEMPA entered into a 30-year wholesale power agreement, whereby Duke Energy Progress will sell power to NCEMPA to continue to meet the needs of NCEMPA customers. The purchase price exceeds the historical carrying value of the acquired assets by $350 million , which was recognized as an acquisition adjustment, recorded in property, plant and equipment. Duke Energy Progress received FERC approval for inclusion of the acquisition adjustment in wholesale power formula rates on December 9, 2014. On July 8, 2015, the NCUC adopted a new rule that enables a rider mechanism for recovery of the costs to acquire, operate and maintain interests in the assets purchased as allocated to Duke Energy Progress' North Carolina retail operations, including the acquisition adjustment. Pursuant to the NCUC's approval, Duke Energy Progress implemented a rider to recover costs associated with the NCEMPA asset acquisition effective December 1, 2015. Duke Energy Progress also received an order from the PSCSC to defer the recovery of the South Carolina retail allocated costs of the asset purchased until the Company's next general rate case. Assets Acquired The ownership interests in generating assets acquired are subject to rate-setting authority of the FERC, NCUC and PSCSC and accordingly, the assets are recorded at historical cost. The assets acquired are presented in the following table. (in millions) Inventory $ 56 Net property, plant and equipment 845 Total assets 901 Acquisition adjustment, recorded within property, plant and equipment 350 Total purchase price $ 1,251 In connection with the acquisition, Duke Energy Progress acquired NCEMPA's nuclear decommissioning trust fund assets of $287 million and assumed asset retirement obligations of $204 million associated with NCEMPA's interest in the generation assets. The nuclear decommissioning trust fund and the asset retirement obligation are subject to regulatory accounting treatment. DISPOSITIONS Potential Sale of International Energy On February 18, 2016, Duke Energy announced it had initiated a process to divest the International Energy business segment, excluding the equity method investment in National Methanol Company (NMC). Duke Energy is in the preliminary stage and there have been no binding or non-binding offers requested or submitted. Duke Energy can provide no assurance that this process will result in a transaction and there is no specific timeline for execution of a potential transaction. Proceeds from a successful exit would be used by Duke Energy to fund the operations and growth of domestic businesses. If the potential of a sale were to progress, it could result in classification of International Energy as assets held for sale and as a discontinued operation. As of December 31, 2015, the International Energy segment had a carrying value of approximately $2.7 billion , adjusted to include the cumulative foreign currency translation losses currently classified as accumulated other comprehensive income. Midwest Generation Exit Duke Energy, through indirect subsidiaries, completed the sale of the nonregulated Midwest generation business and Duke Energy Retail Sales (collectively, the Disposal Group) to a subsidiary of Dynegy on April 2, 2015, for approximately $2.8 billion in cash. On April 1, 2015, prior to the sale, Duke Energy Ohio distributed its indirect ownership interest in the nonregulated Midwest generation business to a subsidiary of Duke Energy Corporation. The assets and liabilities of the Disposal Group prior to the sale were included in the Commercial Portfolio (formerly Commercial Power) segment and classified as held for sale in Duke Energy's and Duke Energy Ohio's Consolidated Balance Sheet at December 31, 2014. The following table presents information at the time of the sale related to the Duke Energy Ohio generation plants included in the Disposal Group. Total MW Owned MW Ownership Facility Plant Type Primary Fuel Location Capacity (d) Capacity (d) Interest Stuart (a)(c) Fossil Steam Coal OH 2,308 900 39 % Zimmer (a) Fossil Steam Coal OH 1,300 605 46.5 % Hanging Rock Combined Cycle Gas OH 1,226 1,226 100 % Miami Fort (Units 7 and 8) (b) Fossil Steam Coal OH 1,020 652 64 % Conesville (a)(c) Fossil Steam Coal OH 780 312 40 % Washington Combined Cycle Gas OH 617 617 100 % Fayette Combined Cycle Gas PA 614 614 100 % Killen (b)(c) Fossil Steam Coal OH 600 198 33 % Lee Combustion Turbine Gas IL 568 568 100 % Dick's Creek Combustion Turbine Gas OH 136 136 100 % Miami Fort Combustion Turbine Oil OH 56 56 100 % Total Midwest Generation 9,225 5,884 (a) Jointly owned with American Electric Power Generation Resources and The Dayton Power and Light Company. (b) Jointly owned with The Dayton Power and Light Company. (c) Not operated by Duke Energy Ohio. (d) Total MW capacity is based on summer capacity. The Disposal Group also included a retail sales business owned by Duke Energy. In the second quarter of 2014, Duke Energy Ohio removed Ohio Valley Electric Corporation's (OVEC) purchase power agreement from the Disposal Group as it no longer intended to sell it with the Disposal Group. The results of operations of the Disposal Group prior to the date of sale are classified as discontinued operations in the accompanying Consolidated Statements of Operations and Comprehensive Income. Certain immaterial costs that were eliminated as a result of the sale remained in continuing operations. The following table presents the results of discontinued operations. Duke Energy Years Ended December 31, (in millions) 2015 2014 2013 Operating Revenues $ 543 $ 1,748 $ 1,885 Loss on disposition (a) (45 ) (929 ) — Income (loss) before income taxes (b) $ 59 $ (818 ) $ 141 Income tax expense (benefit) 26 (294 ) 56 Income (loss) from discontinued operations of the Disposal Group 33 (524 ) 85 Other, net of tax (c) (13 ) (52 ) 1 Income (Loss) From Discontinued Operations, net of tax $ 20 $ (576 ) $ 86 (a) The Loss on disposition includes impairments recorded to adjust the carrying amount of the assets to the estimated fair value of the business, based on the selling price to Dynegy less cost to sell. (b) The Income (loss) before income taxes includes the pretax impact of an $81 million charge for the settlement agreement reached in a lawsuit related to the Disposal Group for the year ended December 31, 2015. Refer to Note 5 for further information related to the lawsuit. (c) Relates to discontinued operations of businesses not related to the Disposal Group. Amounts include indemnifications provided for certain legal, tax and environmental matters, and foreign currency translation adjustments. Duke Energy Ohio Years Ended December 31, (in millions) 2015 2014 2013 Operating Revenues $ 412 $ 1,299 $ 1,503 Loss on disposition (a) (52 ) (959 ) — Income (loss) before income taxes (b) $ 44 $ (863 ) $ 67 Income tax expense (benefit) 21 (300 ) 32 Income (Loss) From Discontinued Operations, net of tax $ 23 $ (563 ) $ 35 (a) The Loss on disposition includes impairments recorded to adjust the carrying amount of the assets to the estimated fair value of the business, based on the selling price to Dynegy less cost to sell. (b) The Income (loss) before income taxes includes the pretax impact of an $81 million charge for the settlement agreement reached in a lawsuit related to the Disposal Group for the year ended December 31, 2015, respectively. Refer to Note 5 for further information related to the lawsuit. Commercial Portfolio has a revolving credit agreement (RCA) which was used to support the operations of the nonregulated Midwest generation business. Interest expense associated with the RCA was allocated to discontinued operations. No other interest expense related to corporate level debt was allocated to discontinued operations. Duke Energy Ohio had a power purchase agreement with the Disposal Group for a portion of its standard service offer (SSO) supply requirement. The agreement and the SSO expired in May 2015. Duke Energy received reimbursement for transition services provided to Dynegy through December 2015. The continuing cash flows were not considered direct cash flows or material. Duke Energy or Duke Energy Ohio did not significantly influence the operations of the Disposal Group during the transition service period. See Notes 4 and 5 for a discussion of contingencies related to the Disposal Group that are retained by Duke Energy Ohio subsequent to the sale. |
Business Segments
Business Segments | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Business Segments | BUSINESS SEGMENTS Duke Energy evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests. Segment income, as discussed below, includes intercompany revenues and expenses that are eliminated in the Consolidated Financial Statements. Certain governance costs are allocated to each segment. In addition, direct interest expense and income taxes are included in segment income. Operating segments are determined based on information used by the chief operating decision maker in deciding how to allocate resources and evaluate the performance. Products and services are sold between affiliate companies and reportable segments of Duke Energy at cost. Segment assets as presented in the tables that follow exclude all intercompany assets. Duke Energy Duke Energy has the following reportable operating segments: Regulated Utilities, International Energy and Commercial Portfolio. Regulated Utilities conducts electric and natural gas operations that are substantially all regulated and, accordingly, qualify for regulatory accounting treatment. These operations are primarily conducted through the Subsidiary Registrants and are subject to the rules and regulations of the FERC, NRC, NCUC, PSCSC, FPSC, PUCO, IURC and KPSC. International Energy principally operates and manages power generation facilities and engages in sales and marketing of electric power, natural gas and natural gas liquids outside the U.S. Its activities principally target power generation in Latin America. Additionally, International Energy owns a 25 percent interest in NMC, a large regional producer of methyl tertiary butyl ether (MTBE) located in Saudi Arabia. The investment in NMC is accounted for under the equity method of accounting. On February 4, 2016, Duke Energy announced it had initiated a process to divest its International Energy business segment, excluding the investment in NMC. See Note 2 for further information. Commercial Portfolio builds, develops and operates wind and solar renewable generation and energy transmission projects throughout the U.S. The segment was renamed as a result of the sale of the Disposal Group, as discussed in Note 2. For periods subsequent to the sale, beginning in the second quarter of 2015, certain immaterial results of operations and related assets previously presented in the Commercial Portfolio segment are presented in Regulated Utilities and Other. The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of unallocated corporate interest expense, unallocated corporate costs, contributions to the Duke Energy Foundation and the operations of Duke Energy’s wholly owned captive insurance subsidiary, Bison Insurance Company Limited (Bison).On December 31, 2013, Duke Energy sold its interest in DukeNet Communications Holdings, LLC (DukeNet) to Time Warner Cable, Inc. Year Ended December 31, 2015 Total Regulated International Commercial Reportable (in millions) Utilities Energy Portfolio Segments Other Eliminations Total Unaffiliated Revenues $ 22,024 $ 1,088 $ 301 $ 23,413 $ 46 $ — $ 23,459 Intersegment Revenues 38 — — 38 77 (115 ) — Total Revenues $ 22,062 $ 1,088 $ 301 $ 23,451 $ 123 $ (115 ) $ 23,459 Interest Expense $ 1,097 $ 85 $ 44 $ 1,226 $ 393 $ (6 ) $ 1,613 Depreciation and amortization 2,814 92 104 3,010 134 — 3,144 Equity in earnings of unconsolidated affiliates (4 ) 74 (3 ) 67 2 — 69 Income tax expense (benefit) 1,647 74 (92 ) 1,629 (303 ) — 1,326 Segment income (loss) (a)(b)(c)(d) 2,893 225 4 3,122 (322 ) (4 ) 2,796 Add back noncontrolling interest component 15 Income from discontinued operations, net of tax (e) 20 Net income $ 2,831 Capital investments expenditures and acquisitions $ 6,974 $ 45 $ 1,131 $ 8,150 $ 213 $ — $ 8,363 Segment Assets 111,562 3,271 4,010 118,843 2,125 188 121,156 (a) Regulated Utilities includes an after-tax charge of $58 million related to the Edwardsport settlement. Refer to Note 4 for further information. (b) Commercial Portfolio includes state tax expense of $41 million , resulting from changes to state apportionment factors due to the sale of the Disposal Group, that does not qualify for discontinued operations. Refer to Note 2 for further information related to the sale. (c) Other includes $60 million of after-tax costs to achieve mergers. (d) Other includes an after-tax charge of $77 million related to cost savings initiatives. Refer to Note 19 for further information related to the cost savings initiatives. (e) Includes after-tax impact of $53 million for the settlement agreement reached in a lawsuit related to the Disposal Group. Refer to Note 5 for further information related to the lawsuit. Year Ended December 31, 2014 Total Regulated International Commercial Reportable (in millions) Utilities Energy Portfolio Segments Other Eliminations Total Unaffiliated Revenues $ 22,228 $ 1,417 $ 255 $ 23,900 $ 25 $ — $ 23,925 Intersegment Revenues 43 — — 43 80 (123 ) — Total Revenues $ 22,271 $ 1,417 $ 255 $ 23,943 $ 105 $ (123 ) $ 23,925 Interest Expense $ 1,093 $ 93 $ 58 $ 1,244 $ 400 $ (22 ) $ 1,622 Depreciation and amortization 2,759 97 92 2,948 118 — 3,066 Equity in earnings of unconsolidated affiliates (3 ) 120 10 127 3 — 130 Income tax expense (benefit) (a) 1,628 449 (171 ) 1,906 (237 ) — 1,669 Segment income (loss) (b)(c)(d) 2,795 55 (55 ) 2,795 (334 ) (10 ) 2,451 Add back noncontrolling interest component 14 Loss from discontinued operations, net of tax (576 ) Net income $ 1,889 Capital investments expenditures and acquisitions $ 4,744 $ 67 $ 555 $ 5,366 $ 162 $ — $ 5,528 Segment Assets 106,574 5,093 6,278 117,945 2,423 189 120,557 (a) International Energy includes a tax adjustment of $373 million related to deferred tax impact resulting from the decision to repatriate all cumulative historical undistributed foreign earnings. See Note 22 for additional information. (b) Commercial Portfolio recorded a $94 million pretax impairment charge related to OVEC. (c) Other includes costs to achieve mergers. (d) Regulated Utilities includes an increase in the litigation reserve related to the criminal investigation of the Dan River coal ash spill. See Note 5 for additional information. Year Ended December 31, 2013 Total Regulated International Commercial Reportable (in millions) Utilities Energy Portfolio Segments Other Eliminations Total Unaffiliated Revenues (a)(b)(c) $ 20,871 $ 1,546 $ 254 $ 22,671 $ 85 $ — $ 22,756 Intersegment Revenues 39 — 6 45 90 (135 ) — Total Revenues $ 20,910 $ 1,546 $ 260 $ 22,716 $ 175 $ (135 ) $ 22,756 Interest Expense $ 986 $ 86 $ 61 $ 1,133 $ 416 $ (6 ) $ 1,543 Depreciation and amortization 2,323 100 110 2,533 135 — 2,668 Equity in earnings of unconsolidated affiliates (1 ) 110 7 116 6 — 122 Income tax expense (benefit) 1,522 166 (148 ) 1,540 (335 ) — 1,205 Segment income (loss) (a)(b)(c)(d)(e)(f)(g) 2,504 408 (88 ) 2,824 (238 ) (12 ) 2,574 Add back noncontrolling interest component 16 Income from discontinued operations, net of tax 86 Net income $ 2,676 Capital investments expenditures and acquisitions $ 5,049 $ 67 $ 268 $ 5,384 $ 223 $ — $ 5,607 Segment Assets 99,884 4,998 6,955 111,837 2,754 188 114,779 (a) In May 2013, the PUCO approved a Duke Energy Ohio settlement agreement that provides for a net annual increase in electric distribution revenues beginning in May 2013. This rate increase impacts Regulated Utilities. (b) In June 2013, NCUC approved a Duke Energy Progress settlement agreement that included an increase in rates in the first year beginning in June 2013. This rate increase impacts Regulated Utilities. (c) In September 2013, Duke Energy Carolinas implemented revised customer rates approved by the NCUC and the PSCSC. These rate increases impact Regulated Utilities. (d) Regulated Utilities recorded an impairment charge related to Duke Energy Florida's Crystal River Unit 3. See Note 4 for additional information. (e) Regulated Utilities recorded an impairment charge related to the letter Duke Energy Progress filed with the NRC requesting the NRC to suspend its review activities associated with the combined construction and operating license (COL) at the Harris site. Regulated Utilities also recorded an impairment charge related to the write-off of the wholesale portion of the Levy investments at Duke Energy Florida in accordance with the 2013 Settlement. See Note 4 for additional information. (f) Other includes costs to achieve mergers. (g) Other includes gain from the sale of Duke Energy's ownership interest in DukeNet. See Note 12 for additional information on the sale of DukeNet. Geographical Information (in millions) U.S. Latin America (a) Consolidated 2015 Consolidated revenues $ 22,371 $ 1,088 $ 23,459 Consolidated long-lived assets 87,552 2,012 89,564 2014 Consolidated revenues $ 22,508 $ 1,417 $ 23,925 Consolidated long-lived assets 80,709 2,458 83,167 2013 Consolidated revenues $ 21,211 $ 1,545 $ 22,756 Consolidated long-lived assets 78,581 2,781 81,362 (a) Change in amounts of long-lived assets in Latin America includes foreign currency translation adjustments on property, plant and equipment and other long-lived asset balances. Products and Services The following table summarizes revenues of the reportable segments by type. Retail Wholesale Retail Wholesale Total (in millions) Electric Electric Natural Gas Natural Gas Other Revenues 2015 Regulated Utilities $ 18,695 $ 2,014 $ 546 $ — $ 807 $ 22,062 International Energy — 1,025 — 63 — 1,088 Commercial Portfolio — 260 — — 41 301 Total Reportable Segments $ 18,695 $ 3,299 $ 546 $ 63 $ 848 $ 23,451 2014 Regulated Utilities $ 19,007 $ 1,879 $ 571 $ — $ 814 $ 22,271 International Energy — 1,326 — 91 — 1,417 Commercial Portfolio — 255 — — — 255 Total Reportable Segments $ 19,007 $ 3,460 $ 571 $ 91 $ 814 $ 23,943 2013 Regulated Utilities $ 17,837 $ 1,720 $ 506 $ — $ 847 $ 20,910 International Energy — 1,447 — 99 — 1,546 Commercial Portfolio — 260 — — — 260 Total Reportable Segments $ 17,837 $ 3,427 $ 506 $ 99 $ 847 $ 22,716 Duke Energy Ohio Duke Energy Ohio had two reportable operating segments, Regulated Utilities and Commercial Portfolio, prior to the sale of the nonregulated Midwest generation business. As a result of the sale discussed in Note 2, Commercial Portfolio no longer qualifies as a Duke Energy Ohio reportable operating segment. Therefore, for periods subsequent to the sale, beginning in the second quarter of 2015, all of the remaining assets and related results of operations previously presented in Commercial Portfolio are presented in Regulated Utilities and Other. Regulated Utilities transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Kentucky. Regulated Utilities also transports and sells natural gas in portions of Ohio and northern Kentucky. It conducts operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky. Other is primarily comprised of governance costs allocated by its parent, Duke Energy, and revenues and expenses related to Duke Energy Ohio's contractual arrangement to buy power from OVEC's power plants. For additional information on related party transactions refer to Note 9. See Note 13 for additional information. All of Duke Energy Ohio’s revenues are generated domestically and its long-lived assets are all in the U.S. Year Ended December 31, 2015 Total Regulated Commercial Reportable (in millions) Utilities Portfolio Segments Other Eliminations Total Unaffiliated revenues $ 1,872 $ 14 $ 1,886 $ 19 $ — $ 1,905 Intersegment revenues 1 — 1 — (1 ) — Total revenues $ 1,873 $ 14 $ 1,887 $ 19 $ (1 ) $ 1,905 Interest expense $ 78 $ — $ 78 $ 1 $ — $ 79 Depreciation and amortization 226 — 226 1 — 227 Income tax expense (benefit) 105 (5 ) 100 (19 ) — 81 Segment income (loss) 191 (8 ) 183 (33 ) (1 ) 149 Income from discontinued operations, net of tax 23 Net income $ 172 Capital expenditures $ 399 $ — $ 399 $ — $ — $ 399 Segment assets 7,050 — 7,050 55 (8 ) 7,097 Year Ended December 31, 2014 Total Regulated Commercial Reportable (in millions) Utilities Portfolio Segments Other Eliminations Total Unaffiliated revenues $ 1,894 $ 19 $ 1,913 $ — $ — $ 1,913 Intersegment revenues 1 — 1 — (1 ) — Total revenues $ 1,895 $ 19 $ 1,914 $ — $ (1 ) $ 1,913 Interest expense $ 81 $ 5 $ 86 $ — $ — $ 86 Depreciation and amortization 211 2 213 1 — 214 Income tax expense (benefit) 117 (67 ) 50 (7 ) — 43 Segment income (loss) (a) 202 (121 ) 81 (13 ) — 68 Income from discontinued operations, net of tax (563 ) Net loss $ (495 ) Capital expenditures $ 300 $ 22 $ 322 $ — $ — $ 322 Segment assets 6,902 3,187 10,089 134 (230 ) 9,993 (a) Commercial Portfolio recorded a $94 million pretax impairment charge related to OVEC. Year Ended December 31, 2013 Total Regulated Commercial Reportable (in millions) Utilities Portfolio Segments Other Eliminations Total Total revenues $ 1,765 $ 40 $ 1,805 $ — $ — $ 1,805 Interest expense $ 74 $ — $ 74 $ — $ — $ 74 Depreciation and amortization 200 13 213 — — 213 Income tax expense (benefit) 91 (36 ) 55 (12 ) — 43 Segment income (loss) 151 (65 ) 86 (19 ) — 67 Income from discontinued operations, net of tax 35 Net income $ 102 Capital expenditures $ 375 $ 58 $ 433 $ — $ — $ 433 Segment assets 6,649 4,170 10,819 99 (155 ) 10,763 DUKE ENERGY CAROLINAS, PROGRESS ENERGY, DUKE ENERGY PROGRESS, DUKE ENERGY FLORIDA AND DUKE ENERGY INDIANA The remaining Subsidiary Registrants each have one reportable operating segment, Regulated Utilities, which generates, transmits, distributes and sells electricity. The remainder of each company’s operations is classified as Other. While not considered a reportable segment for any of these companies, Other consists of certain unallocated corporate costs. Other for Progress Energy also includes interest expense on corporate debt instruments of $240 million , $241 million and $300 million for the years ended December 31, 2015 , 2014 and 2013 . The following table summarizes the net loss for Other for each of these entities. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas $ (95 ) $ (79 ) $ (97 ) Progress Energy (159 ) (190 ) (241 ) Duke Energy Progress (32 ) (31 ) (46 ) Duke Energy Florida (16 ) (19 ) (24 ) Duke Energy Indiana (10 ) (11 ) (16 ) Duke Energy Progress earned approximately 10 percent of its consolidated operating revenues from North Carolina Electric Membership Corporation (NCEMC) in 2015. These revenues relate to wholesale contracts and transmission revenues. The assets Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana are substantially all included within the Regulated Utilities segment at December 31, 2015 , 2014 and 2013 .3 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
Regulated Operations [Abstract] | |
Regulatory Matters | REGULATORY MATTERS Regulatory Assets and Liabilities The Duke Energy Registrants record regulatory assets and liabilities that result from the ratemaking process. See Note 1 for further information. The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Assets Asset retirement obligations – coal ash $ 2,555 $ 1,120 $ 1,394 $ 1,386 $ 8 $ 4 $ 37 Asset retirement obligations – nuclear and other 838 104 487 195 292 — — Accrued pension and OPEB 2,151 479 807 366 441 139 220 Retired generation facilities 509 49 409 179 230 — 51 Debt fair value adjustment 1,191 — — — — — — Net regulatory asset related to income taxes 1,075 564 318 106 212 55 120 Nuclear asset securitizable balance, net 1,237 — 1,237 — 1,237 — — Hedge costs and other deferrals 571 127 410 171 239 7 27 Demand side management (DSM)/Energy efficiency (EE) 340 80 250 237 13 10 — Grid Modernization 68 — — — — 68 — Vacation accrual 192 79 38 38 — 5 10 Deferred fuel and purchased power 151 21 129 93 36 1 — Nuclear deferral 245 107 138 62 76 — — Post-in-service carrying costs and deferred operating expenses 383 97 38 38 — 21 227 Gasification services agreement buyout 32 — — — — — 32 Transmission expansion obligation 72 — — — — 72 — Manufactured gas plant (MGP) 104 — — — — 104 — NCEMPA deferrals 21 — 21 21 — — — East Bend deferrals 16 — — — — 16 — Other 499 244 121 82 39 31 94 Total regulatory assets 12,250 3,071 5,797 2,974 2,823 533 818 Less: current portion 877 305 362 264 98 36 102 Total noncurrent regulatory assets $ 11,373 $ 2,766 $ 5,435 $ 2,710 $ 2,725 $ 497 $ 716 December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Liabilities Costs of removal $ 5,329 $ 2,413 $ 2,078 $ 1,725 $ 353 $ 222 $ 616 Amounts to be refunded to customers 71 — — — — — 71 Storm reserve 150 24 125 — 125 1 — Accrued pension and OPEB 288 68 51 25 26 21 83 Deferred fuel and purchased power 311 55 255 58 197 1 — Other 506 281 164 155 8 12 46 Total regulatory liabilities 6,655 2,841 2,673 1,963 709 257 816 Less: current portion 400 39 286 85 200 12 62 Total noncurrent regulatory liabilities $ 6,255 $ 2,802 $ 2,387 $ 1,878 $ 509 $ 245 $ 754 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Assets Asset retirement obligations – coal ash $ 1,992 $ 840 $ 1,152 $ 1,152 $ — $ — $ — Asset retirement obligations – nuclear and other 1,025 67 730 432 298 — — Accrued pension and OPEB 2,015 412 812 354 458 132 217 Retired generation facilities 1,659 58 1,545 152 1,393 — 56 Debt fair value adjustment 1,305 — — — — — — Net regulatory asset related to income taxes 1,144 614 354 141 213 64 111 Hedge costs and other deferrals 628 103 490 217 273 7 28 DSM/EE 330 106 203 193 10 21 — Grid Modernization 76 — — — — 76 — Vacation accrual 213 86 46 46 — 6 12 Deferred fuel and purchased power 246 50 182 138 44 9 5 Nuclear deferral 296 141 155 43 112 — — Post-in-service carrying costs and deferred operating expenses 494 124 121 28 93 21 228 Gasification services agreement buyout 55 — — — — — 55 Transmission expansion obligation 70 — — — — 74 — MGP 115 — — — — 115 — Other 494 263 109 66 42 36 66 Total regulatory assets 12,157 2,864 5,899 2,962 2,936 561 778 Less: current portion 1,115 399 491 287 203 49 93 Total noncurrent regulatory assets $ 11,042 $ 2,465 $ 5,408 $ 2,675 $ 2,733 $ 512 $ 685 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Liabilities Costs of removal $ 5,221 $ 2,420 $ 1,975 $ 1,692 $ 283 $ 222 $ 613 Amounts to be refunded to customers 166 — 70 — 70 — 96 Storm reserve 150 25 125 — 125 — — Accrued pension and OPEB 379 76 121 61 60 19 91 Deferred fuel and purchased power 37 6 23 23 — — 8 Other 444 217 171 127 44 10 42 Total regulatory liabilities 6,397 2,744 2,485 1,903 582 251 850 Less: current portion 204 34 106 71 35 10 54 Total noncurrent regulatory liabilities $ 6,193 $ 2,710 $ 2,379 $ 1,832 $ 547 $ 241 $ 796 Descriptions of regulatory assets and liabilities, summarized in the tables above, as well as their recovery and amortization periods follow. Items are excluded from rate base unless otherwise noted. Asset retirement obligations – coal ash. Represents regulatory assets including deferred depreciation and accretion related to the legal obligation to close ash basins. The costs are deferred until recovery treatment has been determined. The recovery period for these costs has yet to be established. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Ohio earn a debt return on their expenditures. See Notes 1 and 9 for additional information. Asset retirement obligations – nuclear and other. Represents regulatory assets, including deferred depreciation and accretion, related to legal obligations associated with the future retirement of property, plant and equipment, excluding amounts related to coal ash. The Asset retirement obligations relate primarily to decommissioning nuclear power facilities. The amounts also include certain deferred gains on NDTF investments. The recovery period for costs related to nuclear facilities runs through the decommissioning period of each nuclear unit, the latest of which is currently estimated to be 2086. See Notes 1 and 9 for additional information. Accrued pension and OPEB. Accrued pension and OPEB represent regulatory assets and liabilities related to each of the Duke Energy Registrants’ respective shares of unrecognized actuarial gains and losses and unrecognized prior service cost and credit attributable to Duke Energy’s pension plans and OPEB plans. The regulatory asset or liability is amortized with the recognition of actuarial gains and losses and prior service cost and credit to net periodic benefit costs for pension and OPEB plans. See Note 21 for additional detail. Retired generation facilities. Duke Energy Florida earns a full return on a portion of the regulatory asset related to the retired nuclear plant currently recovered in the nuclear cost recovery clause (NCRC), with the remaining portion earning a reduced return. Duke Energy Carolinas earns a return on the outstanding retail balance with recovery periods ranging from five to 10 years . Duke Energy Progress earns a return on the outstanding balance with recovery over a period of 10 years for retail purposes and over the longer of 10 years or the previously estimated planned retirement date for wholesale purposes. Duke Energy Indiana earns a return on the outstanding balances and the costs are included in rate base. Debt fair value adjustment. Purchase accounting adjustment recorded to state the carrying value of Progress Energy at fair value in connection with the 2012 merger. Amount is amortized over the life of the related debt. Net regulatory asset related to income taxes. Regulatory assets principally associated with the depreciation and recovery of AFUDC equity. Amounts have no impact on rate base as regulatory assets are offset by deferred tax liabilities. The recovery period is over the life of the associated assets. Amounts for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress include regulatory liabilities related to the change in the North Carolina corporate tax rate discussed in Note 22. Nuclear asset securitizable balance, net. Represents the balance associated with Crystal River Unit 3 retirement approved for recovery by the FPSC on September 15, 2015, and the deferred operating expenses expected to be securitized in 2016 upon issuance of the associated bonds. The regulatory asset balance is net of the AFUDC equity portion of the $1.283 billion amount approved by the FPSC. The regulatory asset balance approved for recovery by the FPSC will earn a reduced return until the expected bond issuance, after which it will earn a return in rates to recover the interest costs of the associated debt. Once bonds are issued, the balance will be recovered over approximately 20 years . This regulatory asset is not included in rate base. Hedge costs and other deferrals. Amounts relate to unrealized gains and losses on derivatives recorded as a regulatory asset or liability, respectively, until the contracts are settled. The recovery period varies for these costs and currently extends to 2048. DSM/EE. The recovery period varies for these costs, with some currently unknown. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are required to pay interest on the outstanding liability balance. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida collect a return on DSM/EE investments. Grid Modernization. Represents deferred depreciation and operating expenses as well as carrying costs on the portion of capital expenditures placed in service but not yet reflected in retail rates as plant in service. Recovery period is generally one year for depreciation and operating expenses. Recovery for post-in-service carrying costs is over the life of the assets. Duke Energy Ohio is earning a return on these costs. Vacation accrual. Generally recovered within one year. Deferred fuel and purchased power. Represents certain energy related costs that are recoverable or refundable as approved by the applicable regulatory body. Duke Energy Florida amount includes capacity costs. Duke Energy Florida earns a return on the retail portion of under-recovered costs. Duke Energy Ohio earns a return on under-recovered costs. Duke Energy Florida and Duke Energy Ohio pay interest on over-recovered costs. Duke Energy Carolinas and Duke Energy Progress amounts include certain purchased power costs in both North Carolina and South Carolina and costs of distributed energy resource programs in South Carolina. Duke Energy Carolinas and Duke Energy Progress pay interest on over-recovered costs in North Carolina. Recovery period is generally over one year. Duke Energy Indiana recovery period is quarterly. Nuclear deferral. Includes (i) amounts related to levelizing nuclear plant outage costs at Duke Energy Carolinas in North Carolina and South Carolina, and Duke Energy Progress in North Carolina, which allows for the recognition of nuclear outage expenses over the refueling cycle rather than when the outage occurs, resulting in the deferral of operations and maintenance costs associated with refueling and (ii) certain deferred preconstruction and carrying costs at Duke Energy Florida as approved by the FPSC primarily associated with Levy, with a final true-up to be filed by May 2017. Post-in-service carrying costs and deferred operating expenses. Represents deferred depreciation and operating expenses as well as carrying costs on the portion of capital expenditures placed in service but not yet reflected in retail rates as plant in service. Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana earn a return on the outstanding balance. Duke Energy Florida earns a return at a reduced rate. For Duke Energy Ohio and Duke Energy Indiana, some amounts are included in rate base. Recovery is over various lives, and the latest recovery period is 2082. Gasification services agreement buyout. The IURC authorized Duke Energy Indiana to recover costs incurred to buyout a gasification services agreement, including carrying costs through 2018. Transmission expansion obligation. Represents transmission expansion obligations related to Duke Energy Ohio’s withdrawal from Midcontinent Independent System Operator, Inc. (MISO). MGP. Represents remediation costs for former MGP sites. In November 2013, the PUCO approved recovery of costs incurred through 2019. Duke Energy Ohio does not earn a return on these costs. NCEMPA deferrals. Represents retail allocated cost deferrals and returns associated with the additional ownership interest in assets acquired from NCEMPA discussed in Note 2. The North Carolina retail allocated costs are generally being recovered, over a period of time between three years and the remaining life of the assets purchased, through a rider that became effective on December 1, 2015. The South Carolina retail allocated costs are being deferred until Duke Energy Progress' next general rate case, earning a return pursuant to an order received from the PSCSC. East Bend deferrals. Represents both deferred operating expenses and deferred depreciation as well as carrying costs on the portion of East Bend that was acquired from Dayton Power and Light and that had been previously operated as a jointly owned facility. Recovery will not commence until the settlement of the next rate case in Kentucky. Duke Energy Ohio is earning a return on these deferred costs. Costs of removal. Represents funds received from customers to cover the future removal of property, plant and equipment from retired or abandoned sites as property is retired. Also includes certain deferred gains on NDTF investments. Amounts to be refunded to customers. Represents required rate reductions to retail customers by the applicable regulatory body. The period of refund for Duke Energy Indiana is through 2017. Storm reserve. Duke Energy Carolinas and Duke Energy Florida are allowed to petition the PSCSC and FPSC, respectively, to seek recovery of named storms. Funds are used to offset future incurred costs. Restrictions on the Ability of Certain Subsidiaries to Make Dividends, Advances and Loans to Duke Energy As a condition to the approval of merger transactions, the NCUC, PSCSC, PUCO, KPSC and IURC imposed conditions on the ability of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Kentucky and Duke Energy Indiana to transfer funds to Duke Energy through loans or advances, as well as restricted amounts available to pay dividends to Duke Energy. Certain subsidiaries may transfer funds to Duke Energy Corporation Holding Company (the parent) by obtaining approval of the respective state regulatory commissions. These conditions imposed restrictions on the ability of the public utility subsidiaries to pay cash dividends as discussed below. Duke Energy Progress and Duke Energy Florida also have restrictions imposed by their first mortgage bond indentures and Articles of Incorporation which, in certain circumstances, limit their ability to make cash dividends or distributions on common stock. Amounts restricted as a result of these provisions were not material at December 31, 2015 . Additionally, certain other subsidiaries of Duke Energy have restrictions on their ability to dividend, loan or advance funds to Duke Energy due to specific legal or regulatory restrictions, including, but not limited to, minimum working capital and tangible net worth requirements. Duke Energy Carolinas Duke Energy Carolinas must limit cumulative distributions subsequent to mergers to (i) the amount of retained earnings on the day prior to the closing of the mergers, plus (ii) any future earnings recorded. Duke Energy Progress Duke Energy Progress must limit cumulative distributions subsequent to the merger between Duke Energy and Progress Energy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded. Duke Energy Ohio Duke Energy Ohio will not declare and pay dividends out of capital or unearned surplus without the prior authorization of the PUCO. Duke Energy Ohio received FERC and PUCO approval to pay dividends from its equity accounts that are reflective of the amount that it would have in its retained earnings account had push-down accounting for the Cinergy Corp. (Cinergy) merger not been applied to Duke Energy Ohio’s balance sheet. The conditions include a commitment from Duke Energy Ohio that equity, adjusted to remove the impacts of push-down accounting, will not fall below 30 percent of total capital. Duke Energy Kentucky is required to pay dividends solely out of retained earnings and to maintain a minimum of 35 percent equity in its capital structure. Duke Energy Indiana Duke Energy Indiana must limit cumulative distributions subsequent to the merger between Duke Energy and Cinergy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded. In addition, Duke Energy Indiana will not declare and pay dividends out of capital or unearned surplus without prior authorization of the IURC. The restrictions discussed above were less than 25 percent of Duke Energy's net assets at December 31, 2015 . Rate Related Information The NCUC, PSCSC, FPSC, IURC, PUCO and KPSC approve rates for retail electric and natural gas services within their states. The FERC approves rates for electric sales to wholesale customers served under cost-based rates (excluding Ohio and Indiana), as well as sales of transmission service. Duke Energy Carolinas FERC Transmission Return on Equity Complaint On January 7, 2016, a customer group filed a complaint with the FERC that the rate of return on equity of 10.2 percent in Duke Energy Carolinas' transmission formula rates is excessive and should be reduced to no higher than 8.49 percent , effective upon the complaint date. The customer group requests consolidation with a similar complaint filed against Duke Energy Progress on the same day. Duke Energy Carolinas cannot predict the outcome of this matter. William States Lee Combined Cycle Facility On April 9, 2014, the PSCSC granted Duke Energy Carolinas and NCEMC a Certificate of Environmental Compatibility and Public Convenience and Necessity (CECPCN) for the construction and operation of a 750 MW combined-cycle natural gas-fired generating plant at Duke Energy Carolinas' existing William States Lee Generating Station in Anderson, South Carolina. Duke Energy Carolinas began construction in July 2015 and estimates a cost to build of $600 million for its share of the facility, including AFUDC. The project is expected to be commercially available in late 2017. NCEMC will own approximately 13 percent of the project. On July 3, 2014, the South Carolina Coastal Conservation League and Southern Alliance for Clean Energy jointly filed a Notice of Appeal with the Court of Appeals of South Carolina seeking the court's review of the PSCSC's decision, claiming the PSCSC did not properly consider a request related to a proposed solar facility prior to granting approval of the CECPCN. The Court of Appeals affirmed the PSCSC's decision on February 10, 2016. On February 23, 2016, the South Carolina Coastal Conservation League and Southern Alliance for Clean Energy filed a petition for rehearing with the Court of Appeals. William States Lee III Nuclear Station In December 2007, Duke Energy Carolinas applied to the NRC for a COL for two Westinghouse AP1000 (advanced passive) reactors for the proposed William States Lee III Nuclear Station (Lee Nuclear Station) at a site in Cherokee County, South Carolina. Submitting the COL application did not commit Duke Energy Carolinas to build nuclear units. Through several separate orders, the NCUC and PSCSC concurred with the prudency of Duke Energy Carolinas incurring certain project development and pre-construction costs, although recovery of costs is not guaranteed. Duke Energy Carolinas has incurred approximately $471 million , including AFUDC through December 31, 2015 . This amount is included in Net property, plant and equipment on Duke Energy Carolinas’ Consolidated Balance Sheets. Design changes have been identified in the Westinghouse AP1000 certified design that must be addressed before NRC can complete its review of the Lee Nuclear Station COL application. These design changes set the schedule for completion of the NRC COL application review and issuance of the Lee COL. Receipt of the Lee Nuclear Station COL is currently expected by late 2016. Duke Energy Progress FERC Transmission Return on Equity Complaint On January 7, 2016, a customer group filed a complaint with the FERC that the rate of return on equity of 10.8 percent in Duke Energy Progress' transmission formula rates is excessive and should be reduced to no higher than 8.49 percent , effective upon the complaint date. The customer group requests consolidation with a similar complaint filed against Duke Energy Carolinas on the same day. Duke Energy Progress cannot predict the outcome of this matter. Sutton Black Start Combustion Turbine CPCN On April 15, 2015, Duke Energy Progress filed a Certificate of Public Convenience and Necessity (CPCN) application with the NCUC for approval to construct an 84 MW black start combustion turbine (CT) project at the existing Sutton Plant (Sutton Black Start CT Project). The Sutton Black Start CT Project would replace three existing CTs with total capacity of 61 MW with two new 42 MW CT units with black start and fast start capability. In addition to peaking system capacity, the Sutton Black Start CT Project will provide regional black start capability and tertiary backup power services for the Brunswick Nuclear Plant. In June 2015, the Public Staff of the NCUC recommended the NCUC approve Duke Energy Progress' application. On August 3, 2015, the NCUC issued an order granting the application and requiring annual construction and cost progress reports. The new units are expected to be commercially available in the summer of 2017. Western Carolinas Modernization Plan In May 2015, Duke Energy Progress announced a $1.1 billion plan to modernize the Western Carolinas energy system. The plan included retirement of the Asheville coal-fired plant, building a 650 MW combined-cycle natural gas power plant, installing solar generation at the site, building new transmission lines, a new substation and upgrades to area substations. On June 24, 2015, the North Carolina governor signed into law the North Carolina Mountain Energy Act of 2015 (Mountain Energy Act) which provides for an expedited CPCN process for the proposed Asheville combined-cycle project and extends certain North Carolina Coal Ash Management Act of 2014 (Coal Ash Act) deadlines for the coal ash basin at the Asheville Plant site. On November 4, 2015, in response to community feedback, Duke Energy Progress announced a revised plan. The revised plan replaces the planned 650 MW plant with two 280 MW combined-cycle natural gas plants having dual fuel capability, with the option to build a third natural gas simple cycle unit in 2023 based upon the outcome of initiatives to reduce the region's power demand. The revised plan includes upgrades to existing transmission lines and substations, but eliminates the need for a new transmission line and a new substation associated with the project in South Carolina. The revised plan has the same overall project cost as the original plan, and the plans to install solar generation remain unchanged. Duke Energy Progress has also proposed to add a pilot battery storage project. These investments will be made within the next seven years. Duke Energy Progress is also working with the local natural gas distribution company to upgrade an existing natural gas pipeline to serve the natural gas plant. The plan requires various approvals including regulatory approvals in North Carolina. Duke Energy Progress filed for a CPCN with the NCUC for the new gas units on January 15, 2016. At the NCUC's staff conference on February 22, 2016, the Public Staff recommended approval of the CPCN for the two combined cycle natural gas plants and recommended that the NCUC not issue a CPCN for the simple cycle unit at this time. The NCUC also heard arguments from intervenors and Duke Energy Progress. Pursuant to the Mountain Energy Act, the NCUC's deadline to issue a decision on the CPCN is February 29, 2016. The carrying value of the 376 MW Asheville coal-fired plant, including associated ash basin closure costs, of $548 million is included in Generation facilities to be retired, net on Duke Energy Progress' Consolidated Balance Sheet as of December 31, 2015 . Shearon Harris Nuclear Plant Expansion In 2006, Duke Energy Progress selected a site at Harris to evaluate for possible future nuclear expansion. On February 19, 2008, Duke Energy Progress filed its COL application with the NRC for two Westinghouse AP1000 reactors at Harris, which the NRC docketed for review. On May 2, 2013, Duke Energy Progress filed a letter with the NRC requesting the NRC to suspend its review activities associated with the COL at the Harris site. As a result of the decision to suspend the COL applications, during the second quarter of 2013, Duke Energy Progress recorded a pretax impairment charge of $22 million which represented costs associated with the COL, which were not probable of recovery. The NCUC and PSCSC have approved deferral for $48 million of retail costs recorded in Regulatory assets on Duke Energy Progress’ Consolidated Balance Sheets. Duke Energy Florida FERC Transmission Return on Equity Complaint Seminole Electric Cooperative, Inc. and Florida Municipal Power Agency filed multiple complaints with the FERC alleging Duke Energy Florida's current rate of return on equity in transmission formula rates of 10.8 percent is unjust and unreasonable. The latest complaint, filed on August 12, 2014, claims the rate of return on equity should be reduced to 8.69 percent . The FERC consolidated all complaints for the purposes of settlement, hearing and decision. On July 21, 2015, the parties filed with the FERC for approval of a settlement agreement under which (i) Duke Energy Florida will pay a total of $14.1 million as refunds for all periods through December 31, 2014, (ii) the rate of return on equity will be 10 percent effective January 1, 2015, and (iii) none of the parties will seek a change in the rate of return on equity prior to January 1, 2018. On November 19, 2015, the FERC approved the settlement agreement resolving all complaints. Duke Energy Florida paid $14.1 million in refunds during December 2015. Citrus County Combined Cycle Facility On October 2, 2014, the FPSC granted Duke Energy Florida a Determination of Need for the construction of a 1,640 MW combined-cycle natural gas plant in Citrus County, Florida. On May 5, 2015, the Florida Department of Environmental Protection approved Duke Energy Florida's Site Certification Application. The facility is expected to be commercially available in 2018 at an estimated cost of $1.5 billion , including AFUDC. The project has received all required permits and approvals and construction began in October 2015. Purchase of Osprey Energy Center In December 2014, Duke Energy Florida and Osprey Energy Center, LLC, a wholly owned subsidiary of Calpine Corporation (Calpine), entered into an Asset Purchase and Sale Agreement for the purchase of a 599 MW combined-cycle natural gas plant in Auburndale, Florida (Osprey Plant acquisition) for approximately $166 million . On January 30, 2015, Duke Energy Florida petitioned the FPSC requesting a determination that the Osprey Plant acquisition or, alternatively, the construction of a 320 MW combustion turbine at its existing Suwannee generating facility (Suwannee project) with an estimated cost of $197 million , is the most cost-effective generation alternative to meet Duke Energy Florida's remaining generation need prior to 2018. On July 21, 2015, the FPSC approved the Osprey Plant acquisition as the most cost-effective alternative and issued an order of approval on July 31, 2015. On July 24, 2015, the FERC issued an order approving the Osprey Plant acquisition. Closing of the acquisition is contingent upon the expiration of the Hart-Scott-Rodino waiting period and is expected to occur by the first quarter of 2017, upon the expiration of an existing Power Purchase Agreement between Calpine and Duke Energy Florida. FPSC Settlement Agreements On February 22, 2012, the FPSC approved a settlement agreement (the 2012 Settlement) among Duke Energy Florida, the Florida Office of Public Counsel (OPC) and other customer advocates. The 2012 Settlement was to continue through the last billing cycle of December 2016. On October 17, 2013, the FPSC approved a settlement agreement (the 2013 Settlement) between Duke Energy Florida, OPC, and other customer advocates. The 2013 Settlement replaces and supplants the 2012 Settlement and substantially resolves issues related to (i) Crystal River Unit 3, (ii) Levy, (iii) Crystal River 1 and 2 coal units, and (iv) future generation needs in Florida. Refer to the remaining sections below for further discussion of these settlement agreements. Crystal River Unit 3 On February 5, 2013, Duke Energy Florida announced the retirement of Crystal River Unit 3. On February 20, 2013, Duke Energy Florida filed with the NRC a certification of permanent cessation of power operations and permanent removal of fuel from the reactor vessel. In December 2013, and March 2014, Duke Energy Florida filed an updated site-specific decommissioning plan with the NRC and FPSC, respectively. The plan, which was approved by the FPSC in November 2014, included a decommissioning cost estimate of $1,180 million , including amounts applicable to joint owners at that time, under the SAFSTOR option. Duke Energy Florida’s decommissioning study assumes Crystal River Unit 3 will be in SAFSTOR configuration, requiring limited staffing to monitor plant conditions, until the eventual dismantling and decontamination activities to be completed by 2074. This decommissioning approach is currently utilized at a number of retired domestic nuclear power plants and is one of three accepted approaches to decommissioning approved by the NRC. Pursuant to the 2013 Settlement, Duke Energy Florida reclassified all Crystal River Unit 3 investments, including property, plant and equipment, nuclear fuel, inventory, and other assets, to regulatory assets. Portions of the nuclear fuel balances that are under contract for sale were subsequently moved to Other within Current Assets and Other within Investments and Other Assets on the Consolidated Balance Sheets. Duke Energy Florida agreed to forgo recovery of $295 million of regulatory assets and an impairment charge was recorded in the second quarter of 2013 for this matter. Duke Energy Florida also accelerated cash recovery of approximately $47 million , net of tax, of the Crystal River Unit 3 regulatory asset from retail customers during 2014 and 2015, through its fuel clause. On May 22, 2015, Duke Energy Florida petitioned the FPSC for approval to include in base rates the revenue requirement for the projected $1.298 billion Crystal River Unit 3 regulatory asset as authorized by the 2013 Revised and Restated Stipulation and Settlement Agreement (2013 Agreement). On September 15, 2015, the FPSC approved Duke Energy Florida's motion for approval of a settlement agreement with intervenors to reduce the value of the projected Crystal River Unit 3 regulatory asset to be recovered to $1.283 billion as of December 31, 2015. An impairment charge of $15 million was recognized in the third quarter of 2015 to adjust the regulatory asset balance. In June 2015, the governor of Florida signed legislation to allow utilities to securitize certain retired nuclear generation assets, with approval of the FPSC. On November 19, 2015, the FPSC issued a financing order approving Duke Energy Florida’s request to securitize its unrecovered regulatory asset related to Crystal River Unit 3 through a debt issuance at a wholly owned special purpose entity. Securitization would replace the base rate recovery methodology authorized by the 2013 Agreement and result in a lower rate impact to customers with an approximately 20 year recovery period. On February 9, 2016, Duke Energy Florida filed a registration statement for the proposed initial public offering of the bonds. Use of the registration statement for purposes of the offering is subject to review and declaration of its effectiveness by the SEC. Duke Energy Florida expects to issue securitization bonds in the first half of 2016. In December 2014, the FPSC approved Duke Energy Florida's decision to construct an independent spent fuel storage installation (ISFSI) and approved Duke Energy Florida's request to defer amortization of the ISFSI pending resolution of its litigation against the federal government as a result of the Department of Energy's breach of its obligation to accept spent nuclear fuel. The return rate will b |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES General Insurance The Duke Energy Registrants have insurance and reinsurance coverage either directly or through indemnification from Duke Energy’s captive insurance company, Bison, and its affiliates, consistent with companies engaged in similar commercial operations with similar type properties. The Duke Energy Registrants’ coverage includes (i) commercial general liability coverage for liabilities arising to third parties for bodily injury and property damage; (ii) workers’ compensation; (iii) automobile liability coverage; and (iv) property coverage for all real and personal property damage. Real and personal property damage coverage excludes electric transmission and distribution lines, but includes damages arising from boiler and machinery breakdowns, earthquakes, flood damage and extra expense, but not outage or replacement power coverage. All coverage is subject to certain deductibles or retentions, sublimits, exclusions, terms and conditions common for companies with similar types of operations. The Duke Energy Registrants self-insure their electric transmission and distribution lines against loss due to storm damage and other natural disasters. As discussed further in Note 4 , Duke Energy Florida maintains a storm damage reserve and has a regulatory mechanism to recover the cost of named storms on an expedited basis. The cost of the Duke Energy Registrants’ coverage can fluctuate year to year reflecting claims history and conditions of the insurance and reinsurance markets. In the event of a loss, terms and amounts of insurance and reinsurance available might not be adequate to cover claims and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on the Duke Energy Registrants’ results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available. Nuclear Insurance Duke Energy Carolinas owns and operates the McGuire Nuclear Station (McGuire) and the Oconee Nuclear Station (Oconee) and operates and has a partial ownership interest in the Catawba Nuclear Station (Catawba). McGuire and Catawba each have two reactors. Oconee has three reactors. The other joint owners of Catawba reimburse Duke Energy Carolinas for certain expenses associated with nuclear insurance per the Catawba joint owner agreements. Duke Energy Progress owns and operates the Robinson Nuclear Plant (Robinson), Brunswick and Harris. Robinson and Harris each have one reactor. Brunswick has two reactors. Duke Energy Florida manages and has a partial ownership interest in Crystal River Unit 3, which has been retired. The other joint owner of Crystal River Unit 3 reimburses Duke Energy Florida for certain expenses associated with nuclear insurance per the Crystal River Unit 3 joint owner agreement. In the event of a loss, terms and amounts of insurance available might not be adequate to cover property damage and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on Duke Energy Carolinas’, Duke Energy Progress’ and Duke Energy Florida’s results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available. Nuclear Liability Coverage The Price-Anderson Act requires owners of nuclear reactors to provide for public nuclear liability protection per nuclear incident up to a maximum total financial protection liability. The maximum total financial protection liability, which is currently $13.5 billion , is subject to change every five years for inflation and for the number of licensed reactors. Total nuclear liability coverage consists of a combination of private primary nuclear liability insurance coverage and a mandatory industry risk-sharing program to provide for excess nuclear liability coverage above the maximum reasonably available private primary coverage. The United States Congress could impose revenue-raising measures on the nuclear industry to pay claims. Primary Liability Insurance Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida have purchased the maximum reasonably available private primary nuclear liability insurance as required by law, which currently is $375 million per station. Excess Liability Program This program provides $13.1 billion of coverage per incident through the Price-Anderson Act’s mandatory industrywide excess secondary financial protection program of risk pooling. This amount is the product of potential cumulative retrospective premium assessments of $127 million times the current 103 licensed commercial nuclear reactors in the U.S. Under this program, licensees could be assessed retrospective premiums to compensate for public nuclear liability damages in the event of a nuclear incident at any licensed facility in the U.S. Retrospective premiums may be assessed at a rate not to exceed $19 million per year per licensed reactor for each incident. The assessment may be subject to state premium taxes. Nuclear Property and Accidental Outage Coverage Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are members of Nuclear Electric Insurance Limited (NEIL), an industry mutual insurance company, which provides "all risk" property damage, decontamination, and premature decommissioning insurance for each station for losses resulting from damage to its nuclear plants, either due to accidents or acts of terrorism. Additionally, NEIL provides some replacement power cost insurance for each station for losses in the event of a major accidental outage at an insured nuclear station. NEIL requires its members to maintain an investment grade credit rating or to ensure collectability of their annual retrospective premium obligation by providing a financial guarantee, letter of credit, deposit premium or other means of assurance. The companies are required each year to report to the NRC the current levels and sources of insurance that demonstrate it possesses sufficient financial resources to stabilize and decontaminate its reactors and reactor station sites in the event of an accident. Pursuant to regulations of the NRC, each company’s property damage insurance policies provide that all proceeds from such insurance be applied, first, to place the plant in a safe and stable condition after a qualifying accident, and second, to decontaminate the plant before any proceeds can be used for decommissioning, plant repair or restoration. Losses resulting from acts of terrorism are covered as common occurrences, such that if terrorist acts occur against one or more commercial nuclear power plants insured by NEIL within a 12-month period, they would be treated as one event and the owners of the plants where the act occurred would share one full limit of liability. The full limit of liability is currently $3.2 billion . NEIL sublimits the total aggregate for all of their policies for non-nuclear terrorist events to approximately $1.83 billion . Each nuclear facility has accident property damage, decontamination and premature decommissioning liability insurance from NEIL with limits of $1.5 billion , except for Crystal River Unit 3. Crystal River Unit 3’s limit is $1 billion and is on an actual cash value basis. NEIL coverage for Crystal River Unit 3 does not include property damage to or resulting from the containment structure although the coverage does apply to decontamination and debris removal, if required following an accident, to ensure public health and safety or if property damage results from a terrorism event. All nuclear facilities except for Catawba and Crystal River Unit 3 also share an additional $1.25 billion nuclear accident insurance limit above their dedicated underlying limit. This shared additional excess limit is not subject to reinstatement in the event of a loss. Catawba has a dedicated $1.25 billion of additional nuclear accident insurance limit above its dedicated underlying limit. Catawba and Oconee also have an additional $750 million of non-nuclear accident property damage limit. All coverages are subject to sublimits and significant deductibles. NEIL’s Accidental Outage policy provides some replacement power cost insurance for losses in the event of a major accident property damage outage of a nuclear unit. Coverage is provided on a weekly limit basis after a significant waiting period deductible and at 100 percent of the available weekly limits for 52 weeks and 80 percent of the available weekly limits for the next 110 weeks. Coverage is provided until these available weekly periods are met where the accidental outage policy limit will not exceed $490 million for McGuire, Catawba, Oconee, Brunswick, and Harris and $457 million for Robinson. NEIL sublimits the accidental outage recovery to the first 104 weeks of coverage not to exceed $328 million from non-nuclear accidental property damage. Coverage amounts decrease in the event more than one unit at a station is out of service due to a common accident. All coverages are subject to sublimits and significant deductibles. Potential Retroactive Premium Assessments In the event of NEIL losses, NEIL’s board of directors may assess member companies retroactive premiums of amounts up to 10 times their annual premiums for up to six years after a loss. NEIL has never exercised this assessment. The maximum aggregate annual retrospective premium obligations for Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are $159 million , $108 million and $7 million , respectively. The maximum assessment amounts include 100 percent of Duke Energy Carolinas’ and Duke Energy Florida’s potential obligations to NEIL for their share of jointly owned reactors. ENVIRONMENTAL Duke Energy is subject to international, federal, state and local regulations regarding air and water quality, hazardous and solid waste disposal and other environmental matters. The Subsidiary Registrants are subject to federal, state and local regulations regarding air and water quality, hazardous and solid waste disposal and other environmental matters. These regulations can be changed from time to time, imposing new obligations on the Duke Energy Registrants. The following environmental matters impact all of the Duke Energy Registrants. Remediation Activities In addition to the Asset Retirement Obligations discussed in Note 9, the Duke Energy Registrants are responsible for environmental remediation at various sites. These include certain properties that are part of ongoing operations and sites formerly owned or used by Duke Energy entities. These sites are in various stages of investigation, remediation and monitoring. Managed in conjunction with relevant federal, state and local agencies, remediation activities vary based upon site conditions and location, remediation requirements, complexity and sharing of responsibility. If remediation activities involve joint and several liability provisions, strict liability, or cost recovery or contribution actions, the Duke Energy Registrants could potentially be held responsible for environmental impacts caused by other potentially responsible parties, and may also benefit from insurance policies or contractual indemnities that cover some or all cleanup costs. Liabilities are recorded when losses become probable and are reasonably estimable. The total costs that may be incurred cannot be estimated because the extent of environmental impact, allocation among potentially responsible parties, remediation alternatives and/or regulatory decisions have not yet been determined. Additional costs associated with remediation activities are likely to be incurred in the future and could be significant. Costs are typically expensed as Operation, maintenance and other in the Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable. The following tables contain information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheets. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Balance at December 31, 2012 $ 75 $ 12 $ 33 $ 14 $ 19 $ 15 $ 8 Provisions/adjustments 26 — 4 (1 ) 5 20 1 Cash reductions (22 ) (1 ) (10 ) (5 ) (5 ) (8 ) (2 ) Balance at December 31, 2013 79 11 27 8 19 27 7 Provisions/adjustments 32 (1 ) 1 4 (3 ) 28 4 Cash reductions (14 ) — (11 ) (7 ) (4 ) (1 ) (1 ) Balance at December 31, 2014 97 10 17 5 12 54 10 Provisions/adjustments 9 1 4 — 4 1 5 Cash reductions (9 ) (1 ) (4 ) (2 ) (2 ) (1 ) (3 ) Balance at December 31, 2015 $ 97 $ 10 $ 17 $ 3 $ 14 $ 54 $ 12 Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material except as presented in the table below. (in millions) Duke Energy $ 74 Duke Energy Carolinas 22 Duke Energy Ohio 42 Duke Energy Indiana 7 North Carolina and South Carolina Ash Basins On February 2, 2014, a break in a stormwater pipe beneath an ash basin at Duke Energy Carolinas’ retired Dan River Steam Station caused a release of ash basin water and ash into the Dan River. On February 8, 2014, a permanent plug was installed in the stormwater pipe, stopping the release of materials into the river. Duke Energy Carolinas estimates 30,000 to 39,000 tons of ash and 24 million to 27 million gallons of basin water were released into the river. In July 2014, Duke Energy completed remediation work identified by the EPA and continues to cooperate with the EPA's civil enforcement process. During 2014, Duke Energy Carolinas incurred repairs and remediation expenses related to the release of approximately $24 million . No additional expenses were recorded in 2015. Duke Energy Carolinas will not seek recovery of these costs from customers. Other costs related to the Dan River release, including pending or future state or federal civil enforcement proceedings, future regulatory directives, natural resources damages, additional pending litigation, future claims or litigation and long-term environmental impact costs, cannot be reasonably estimated at this time. North Carolina Department of Environmental Quality (NCDEQ), formerly the North Carolina Department of Environment and Natural Resources, has historically assessed Duke Energy Carolinas and Duke Energy Progress with Notice of Violations (NOV) for violations that were most often resolved through satisfactory corrective actions and minor, if any, fines or penalties. Subsequent to the Dan River matter discussed above, Duke Energy Carolina and Duke Energy Progress have been served with a higher level of NOVs, including for violations at L.V. Sutton Plant and Dan River Steam Station. In August 2014, NCDEQ issued an NOV for alleged groundwater violations at Duke Energy Progress' L.V. Sutton Plant. On March 10, 2015, NCDEQ issued a civil penalty of approximately $25 million to Duke Energy Progress for environmental damages related to groundwater contamination at the L.V. Sutton Plant. See "Litigation" section below for information related to the resolution of this civil penalty. On February 8, 2016, NCDEQ assessed a penalty of approximately $6.8 million , including enforcement costs, against Duke Energy Carolinas related to storm-water pipes and associated discharges at the Dan River Steam Station. Duke Energy Carolinas recorded a charge to Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income in December 2015. Duke Energy Carolinas is reviewing the NCDEQ action to determine next steps and cannot predict the outcome of this matter. These fines and penalties are unprecedented and were not consistent with historic enforcement practices of NCDEQ. Based on historic practices the expected liability of any existing notice of violations would not be material. Duke Energy Carolinas and Duke Energy Progress cannot predict whether the NCDEQ will assess future penalties related to existing NOVs and if such penalties would be material. See the "Litigation" section below for additional information on litigation, investigations and enforcement actions related to ash basins, including the Memorandum of Plea Agreement (Plea Agreements) in connection to the North Carolina Ash Basin Grand Jury Investigation and NCDEQ matters. Litigation Duke Energy Ash Basin Shareholder Derivative Litigation Five shareholder derivative lawsuits were filed in Delaware Chancery Court relating to the release at Dan River and to the management of Duke Energy’s ash basins. On October 31, 2014, the five lawsuits were consolidated in a single proceeding titled "In Re Duke Energy Corporation Coal Ash Derivative Litigation." On December 2, 2014, plaintiffs filed a Corrected Verified Consolidated Shareholder Derivative Complaint (Consolidated Complaint). The Consolidated Complaint names as defendants several current and former Duke Energy officers and directors (collectively, the “Duke Energy Defendants”). Duke Energy is named as a nominal defendant. The Consolidated Complaint alleges the Duke Energy Defendants breached their fiduciary duties by failing to adequately oversee Duke Energy’s ash basins and that these breaches of fiduciary duty may have contributed to the incident at Dan River and continued thereafter. The lawsuit also asserts claims against the Duke Energy Defendants for corporate waste (relating to the money Duke Energy has spent and will spend as a result of the fines, penalties and coal ash removal) and unjust enrichment (relating to the compensation and director remuneration that was received despite these alleged breaches of fiduciary duty). The lawsuit seeks both injunctive relief against Duke Energy and restitution from the Duke Energy Defendants. On January 21, 2015, the Duke Energy Defendants filed a Motion to Stay and an alternative Motion to Dismiss. On August 31, 2015, the court issued an order staying the case through November 15, 2015. A ruling on defendants' motion to further extend the stay remains pending. On March 5, 2015, shareholder Judy Mesirov filed a shareholder derivative complaint (Mesirov Complaint) in North Carolina state court. The lawsuit, styled Mesirov v. Good , is similar to the consolidated derivative action pending in Delaware Chancery Court and was filed against the same current directors and former directors and officers as the Delaware litigation. Duke Energy Corporation, Duke Energy Progress and Duke Energy Carolinas are named as nominal defendants. The Mesirov Complaint alleges that the Duke Energy Board of Directors was aware of Clean Water Act (CWA) compliance issues and failures to maintain structures in ash basins, but that the Board of Directors did not require Duke Energy Carolinas and Duke Energy Progress to take action to remedy deficiencies. The Mesirov Complaint further alleges that the Board of Directors sanctioned activities to avoid compliance with the law by allowing improper influence of NCDEQ to minimize regulation and by opposing previously anticipated citizen suit litigation. The Mesirov Complaint seeks corporate governance reforms and damages relating to costs associated with the Dan River release, remediation of ash basins that are out of compliance with the CWA and defending and payment of fines, penalties and settlements relating to criminal and civil investigations and lawsuits. On December 7, 2015, the Duke Energy Defendants filed a Motion to Stay the proceedings. A hearing was held on February 17, 2016, and a ruling on this motion is pending. In addition to the above derivative complaints, in 2014, Duke Energy also received two shareholder litigation demand letters. The letters allege that the members of the Board of Directors and certain officers breached their fiduciary duties by allowing the company to illegally dispose of and store coal ash pollutants. One of the letters also alleges a breach of fiduciary duty in the decision-making relating to the leadership changes following the close of the Progress Energy merger in July 2012. By letter dated September 4, 2015, attorneys for the shareholders were informed that, on the recommendation of the Demand Review Committee formed to consider such matters, the Board of Directors concluded not to pursue potential claims against individuals. One of the shareholders, Mitchell Pinsly, sent a formal demand for records and Duke Energy is responding to this request. On October 30, 2015, shareholder Saul Bresalier filed a shareholder derivative complaint in the U. S. District Court for the District of Delaware. The lawsuit alleges that several current and former Duke Energy officers and directors (Bresalier Defendants) breached their fiduciary duties in connection with coal ash environmental issues, the post-merger change in Chief Executive Officer and oversight of political contributions. Duke Energy is named as a nominal defendant. The Bresalier Complaint contends that the Demand Review Committee failed to appropriately consider the shareholder’s earlier demand for litigation and improperly decided not to pursue claims against the Bresalier Defendants. The Bresalier Defendants filed a Motion to Dismiss the Bresalier litigation on January 15, 2016. It is not possible to predict whether Duke Energy will incur any liability or to estimate the damages, if any, it might incur in connection with these matters. Progress Energy Merger Shareholder Litigation Duke Energy, the 11 members of the Board of Directors who were also members of the pre-merger Board of Directors (Legacy Duke Energy Directors) and certain Duke Energy officers are defendants in a purported securities class action lawsuit (Nieman v. Duke Energy Corporation, et al) . This lawsuit consolidates three lawsuits originally filed in July 2012 and is pending in the United States District Court for the Western District of North Carolina. The plaintiffs allege federal Securities Act of 1933 and Securities Exchange Act of 1934 (Exchange Act) claims based on allegations of materially false and misleading representations and omissions in the Registration Statement filed on July 7, 2011, and purportedly incorporated into other documents, all in connection with the post-merger change in Chief Executive Officer (CEO). On August 15, 2014, the parties reached an agreement in principle to settle the litigation. On March 10, 2015, the parties filed a Stipulation of Settlement and a Motion for Preliminary Approval of the Settlement. The court issued an order for preliminary approval of the settlement on March 25, 2015. Under the terms of the agreement, Duke Energy agreed to pay $146 million to settle the claim. On April 22, 2015, Duke Energy made a payment of $25 million into the settlement escrow account. The remainder of $121 million was paid by insurers into the settlement escrow account. Notice has been sent to members of the class and a final approval hearing was held on August 12, 2015. The final order approving the settlement was issued on November 2, 2015, thus closing the matter. On May 31, 2013, the Delaware Chancery Court consolidated four shareholder derivative lawsuits filed in 2012. The Court also appointed a lead plaintiff and counsel for plaintiffs and designated the case as In Re Duke Energy Corporation Derivative Litigation . The lawsuit names as defendants the Legacy Duke Energy Directors. Duke Energy is named as a nominal defendant. The case alleges claims for breach of fiduciary duties of loyalty and care in connection with the post-merger change in CEO. On December 10, 2015, the Duke Energy defendants filed a Motion to Dismiss the litigation. Two shareholder Derivative Complaints, filed in 2012 in federal district court in Delaware, were consolidated as Tansey v. Rogers, et al. The case alleges claims for breach of fiduciary duty and waste of corporate assets, as well as claims under Section 14(a) and 20(a) of the Exchange Act. Duke Energy is named as a nominal defendant. On December 21, 2015, Plaintiff filed a Consolidated Amended Complaint asserting the same claims contained in the original complaints. Duke Energy filed a Motion to Dismiss on February 19, 2016. It is not possible to predict whether Duke Energy will incur any liability or to estimate the damages, if any, it might incur in connection with the remaining litigation. Price Reporting Cases Duke Energy Trading and Marketing, LLC (DETM), a non-operating Duke Energy affiliate, is a defendant, along with numerous other energy companies, in four class-action lawsuits and a fifth single-plaintiff lawsuit pending in a consolidated federal court proceeding in Nevada. Each of these lawsuits contains similar claims that defendants allegedly manipulated natural gas markets by various means, including providing false information to natural gas trade publications and entering into unlawful arrangements and agreements in violation of the antitrust laws of the respective states. Plaintiffs seek damages in unspecified amounts. On July 18, 2011, the judge granted a defendant’s motion for summary judgment in two of five cases. The U.S. Court of Appeals for the Ninth Circuit subsequently reversed the lower court’s decision. On April 21, 2015, the Supreme Court affirmed the U.S. Court of Appeals decision. The case has been reassigned to the same consolidated federal court proceeding in Nevada for further proceedings. In February 2016, DETM reached agreements in principle to settle all of the pending lawsuits. The class-action settlements will be subject to court approval, which is pending. The settlement amount is not material to Duke Energy. Brazil Expansion Lawsuit On August 9, 2011, the State of São Paulo sued Duke Energy International Geracao Paranapenema S.A. (DEIGP) in Brazilian state court. The lawsuit claims DEIGP is under a continuing obligation to expand installed generation capacity in the State of São Paulo by 15 percent pursuant to a stock purchase agreement under which DEIGP purchased generation assets from the state. On August 10, 2011, a judge granted an ex parte injunction ordering DEIGP to present a detailed expansion plan in satisfaction of the 15 percent obligation. DEIGP has previously taken a position that the expansion obligation is no longer viable given changes that have occurred in the electric energy sector since privatization. DEIGP submitted its proposed expansion plan on November 11, 2011, but reserved objections regarding enforceability. In January 2013, DEIGP filed appeals in the federal courts, which are still pending, regarding various procedural issues. A decision on the merits in the first instance court is also pending. It is not possible to predict whether Duke Energy will incur any liability or to estimate the damages, if any, it might incur in connection with this matter. Brazil Generation Record drought conditions in Brazil continue to impact Duke Energy International, Geracao Paranapanema S.A. (DEIGP). A number of electric generators have filed lawsuits seeking relief in the Brazilian courts to mitigate hydrological exposure and diminishing dispatch levels. Some courts have granted injunction orders to limit the financial exposure of certain generators. The implication of these orders is that other electricity market participants not covered by the injunctions may be required to compensate for the financial impact of the liability limitations. The Independent Power Producer Association (APINE) filed one such lawsuit on behalf of DEIGP and other hydroelectric generators against the Brazilian electric regulatory agency. On July 2, 2015, an injunction was granted in favor of APINE limiting the financial exposure of DEIGP and the other plaintiff generators, until the merits of the lawsuit are determined. The APINE decision is subject to appeal and the outcome of these lawsuits is uncertain. It is not possible to predict the impact to Duke Energy from the outcome of these matters. Duke Energy Carolinas and Duke Energy Progress NCDEQ Notice of Violation (NOV) In August 2014, NCDEQ issued an NOV for alleged groundwater violations at Duke Energy Progress' L.V. Sutton Plant. On March 10, 2015, NCDEQ issued a civil penalty of approximately $25 million to Duke Energy Progress for environmental damages related to the groundwater contamination at the L.V. Sutton Plant. On April 9, 2015, Duke Energy Progress filed a Petition for Contested Case hearing in the Office of Administrative Hearings. In February 2015, NCDEQ issued an NOV for alleged groundwater violations at Duke Energy Progress' Asheville Plant. Duke Energy Progress responded to NCDEQ regarding this NOV. On September 29, 2015, Duke Energy Progress and Duke Energy Carolinas entered into a settlement agreement with NCDEQ resolving all former, current and future groundwater penalties at all Duke Energy Carolinas and Duke Energy Progress coal facilities in North Carolina. Under the agreement, Duke Energy Progress paid approximately $6 million and Duke Energy Carolinas paid approximately $1 million . In addition to these payments, Duke Energy Progress and Duke Energy Carolinas will accelerate remediation actions at the Sutton, Asheville, Belews Creek and H.F. Lee plants. The court entered a consent order resolving the contested case relating to the Sutton Plant and NCDEQ rescinded the NOVs relating to alleged groundwater violations at both the Sutton and Asheville plants. On October 13, 2015, the Southern Environmental Law Center (SELC), representing multiple conservation groups, filed a lawsuit in North Carolina Superior Court seeking judicial review of the order approving the settlement agreement with NCDEQ. The conservation groups contend that the Administrative Law Judge exceeded his statutory authority in approving a settlement that provided for past, present, and future resolution of groundwater issues at facilities which were not at issue in the penalty appeal. On December 18, 2015, Duke Energy Carolinas and Duke Energy Progress filed a Motion to Dismiss the complaint. At a hearing held on February 12, 2016, Duke Energy Carolinas and Duke Energy Progress stated that a proposed revised order would be submitted to the Administrative Law Judge to address the court's and SELC's concerns. It is not possible to predict the outcome of this matter. NCDEQ State Enforcement Actions In the first quarter of 2013, SELC sent notices of intent to sue Duke Energy Carolinas and Duke Energy Progress related to alleged groundwater violations and CWA violations from coal ash basins at two of their coal-fired power plants in North Carolina. NCDEQ filed enforcement actions against Duke Energy Carolinas and Duke Energy Progress alleging violations of water discharge permits and North Carolina groundwater standards. The cases have been consolidated and are being heard before a single judge. On August 16, 2013, NCDEQ filed an enforcement action against Duke Energy Carolinas and Duke Energy Progress related to their remaining plants in North Carolina, alleging violations of the CWA and violations of the North Carolina groundwater standards. Both of these cases have been assigned to the judge handling the enforcement actions discussed above. SELC, on behalf of several environmental groups, has been permitted to intervene in these cases. On July 10, 2015, Duke Energy Carolinas and Duke Energy Progress filed Motions for Partial Summary Judgment in the case on the basis that there is no longer either a genuine controversy or disputed material facts about the relief for seven of the 14 North Carolina plants with coal ash basins. On September 14, 2015, the court granted the Motions for Partial Summary Judgment pending court approval of the terms through an order. In November 2015, NCDEQ submitted a proposed order. On November 23, 2015, Duke Energy Carolinas, Duke Energy Progress and SELC filed separate objections to portions of the NCDEQ filing. The parties are drafting a consolidated order to comply with the ruling made by the judge at a hearing held on February 12, 2016. It is not possible to predict any liability or estimate any damages Duke Energy Carolinas or Duke Energy Progress might incur in connection with these matters. North Carolina Declaratory Judgment Action On October 10, 2012, the SELC, on behalf of the same environmental groups that are involved in the state enforcement actions discuss |
Debt and Credit Facilities
Debt and Credit Facilities | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt and Credit Facilities | DEBT AND CREDIT FACILITIES Summary of Debt and Related Terms The following tables summarize outstanding debt. December 31, 2015 Weighted Average Duke Duke Duke Duke Duke Interest Duke Energy Progress Energy Energy Energy Energy (in millions) Rate Energy Carolinas Energy Progress Florida Ohio Indiana Unsecured debt, maturing 2016 - 2073 4.99 % $ 13,392 $ 1,152 $ 3,850 $ — $ 150 $ 765 $ 740 Secured debt, maturing 2016 - 2037 2.57 % 2,635 425 479 254 225 — — First mortgage bonds, maturing 2016 - 2045 (a) 4.74 % 18,980 6,161 9,750 5,975 3,775 750 2,319 Capital leases, maturing 2016 - 2051 (b) 5.38 % 1,336 24 300 144 156 13 14 Tax-exempt bonds, maturing 2017 - 2041 (c) 2.59 % 1,053 355 48 48 — 77 572 Notes payable and commercial paper (d) 0.88 % 4,258 — — — — — — Money pool/intercompany borrowings — 300 1,458 359 813 128 150 Fair value hedge carrying value adjustment 6 6 — — — — — Unamortized debt discount and premium, net (e) 1,712 (17 ) (28 ) (16 ) (8 ) (28 ) (8 ) Unamortized debt issuance costs (f) (170 ) (39 ) (85 ) (37 ) (32 ) (4 ) (19 ) Total debt 4.25 % $ 43,202 $ 8,367 $ 15,772 $ 6,727 $ 5,079 $ 1,701 $ 3,768 Short-term notes payable and commercial paper (3,633 ) — — — — — — Short-term money pool/intercompany borrowings — — (1,308 ) (209 ) (813 ) (103 ) — Current maturities of long-term debt (g) (2,074 ) (356 ) (315 ) (2 ) (13 ) (106 ) (547 ) Total long-term debt (g) $ 37,495 $ 8,011 $ 14,149 $ 6,516 $ 4,253 $ 1,492 $ 3,221 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $114 million and $731 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. (d) Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for commercial paper was 15 days. (e) Duke Energy includes $1,798 million in purchase accounting adjustments related to the merger with Progress Energy. (f) Duke Energy includes $59 million in purchase accounting adjustments primarily related to the merger with Progress Energy. (g) Refer to Note 17 for additional information on amounts from consolidated VIEs. December 31, 2014 Weighted Average Duke Duke Duke Duke Duke Interest Duke Energy Progress Energy Energy Energy Energy (in millions) Rate Energy Carolinas Energy Progress Florida Ohio Indiana Unsecured debt, maturing 2015 - 2073 4.92 % $ 12,937 $ 1,155 $ 3,850 $ — $ 150 $ 773 $ 742 Secured debt, maturing 2016 - 2037 2.50 % 2,806 400 525 300 225 — — First mortgage bonds, maturing 2015 - 2044 (a) 4.76 % 19,180 6,161 9,800 5,475 4,325 900 2,319 Capital leases, maturing 2015 - 2051 (b) 5.30 % 1,428 27 314 146 168 20 16 Tax-exempt bonds, maturing 2015 - 2041 (c) 2.13 % 1,296 355 291 291 — 77 573 Notes payable and commercial paper (d) 0.70 % 2,989 — — — — — — Money pool/intercompany borrowings — 300 835 — 84 516 221 Fair value hedge carrying value adjustment 8 8 — — — — — Unamortized debt discount and premium, net (e) 1,890 (15 ) (26 ) (11 ) (8 ) (29 ) (9 ) Unamortized debt issuance costs (152 ) (38 ) (86 ) (31 ) (37 ) (6 ) (22 ) Total debt 4.29 % $ 42,382 $ 8,353 $ 15,503 $ 6,170 $ 4,907 $ 2,251 $ 3,840 Short-term notes payable and commercial paper (2,514 ) — — — — — — Short-term money pool/intercompany borrowings — — (835 ) — (84 ) (491 ) (71 ) Current maturities of long-term debt (f) (2,807 ) (507 ) (1,507 ) (945 ) (562 ) (157 ) (5 ) Total long-term debt (f) $ 37,061 $ 7,846 $ 13,161 $ 5,225 $ 4,261 $ 1,603 $ 3,764 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $129 million and $787 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. (d) Includes $475 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for commercial paper was 27 days. (e) Duke Energy includes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. (f) Refer to Note 17 for additional information on amounts from consolidated VIEs. Current Maturities of Long-Term Debt The following table shows the significant components of Current maturities of long-term debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings. (in millions) Maturity Date Interest Rate December 31, 2015 Unsecured Debt Progress Energy (Parent) January 2016 5.625 % $ 300 Duke Energy Indiana June 2016 6.05 % 325 Duke Energy (Parent) November 2016 2.150 % 500 First Mortgage Bonds Duke Energy Indiana July 2016 0.670 % 150 Duke Energy Carolinas December 2016 1.750 % 350 Other 449 Current maturities of long-term debt $ 2,074 Maturities and Call Options The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable and commercial paper and money pool borrowings for the Subsidiary Registrants. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy (a) Carolinas Energy Progress Florida Ohio Indiana 2016 $ 2,074 $ 356 $ 315 $ 2 $ 13 $ 106 $ 547 2017 2,468 115 923 446 482 1 2 2018 3,441 1,629 510 — 512 5 3 2019 3,022 5 1,667 855 14 552 63 2020 2,091 755 415 152 265 25 653 Thereafter 24,616 5,507 10,634 5,063 2,980 909 2,500 Total long-term debt, including current maturities $ 37,712 $ 8,367 $ 14,464 $ 6,518 $ 4,266 $ 1,598 $ 3,768 (a) Excludes $1,857 million in purchase accounting adjustments related to the merger with Progress Energy. The Duke Energy Registrants have the ability under certain debt facilities to call and repay the obligation prior to its scheduled maturity. Therefore, the actual timing of future cash repayments could be materially different than as presented above. Short-Term Obligations Classified as Long-Term Debt Tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder and certain commercial paper issuances and money pool borrowings are classified as Long-Term Debt on the Consolidated Balance Sheets. These tax-exempt bonds, commercial paper issuances and money pool borrowings, which are short-term obligations by nature, are classified as long term due to Duke Energy’s intent and ability to utilize such borrowings as long-term financing. As Duke Energy’s Master Credit Facility and other bilateral letter of credit agreements have non-cancelable terms in excess of one year as of the balance sheet date, Duke Energy has the ability to refinance these short-term obligations on a long-term basis. The following tables show short-term obligations classified as long-term debt. December 31, 2015 Duke Duke Duke Duke Duke Energy Energy Energy Energy (in millions) Energy Carolinas Progress Ohio Indiana Tax-exempt bonds $ 347 $ 35 $ — $ 27 $ 285 Commercial paper (a) 625 300 150 25 150 Total $ 972 $ 335 $ 150 $ 52 $ 435 December 31, 2014 Duke Duke Duke Duke Energy Energy Energy (in millions) Energy Carolinas Ohio Indiana Tax-exempt bonds $ 347 $ 35 $ 27 $ 285 Commercial paper 475 300 25 150 Secured debt (b) 200 — — — Total $ 1,022 $ 335 $ 52 $ 435 (a) Progress Energy amounts are equal to Duke Energy Progress amounts. (b) In December 2015, Duke Energy used cash held by the lender to repay debt. Instrument had a term of less than one year with the right to extend the maturity date for additional one-year periods with a final maturity date no later than December 2026. Summary of Significant Debt Issuances In January 2016, Duke Energy Kentucky issued $95 million of unsecured debentures, of which $45 million carry a fixed interest rate of 3.42 percent and mature January 15, 2026 and $50 million carry a fixed interest rate of 4.45 percent and mature January 15, 2046. Proceeds will primarily be used to refinance existing debt, including money pool borrowings, capital expenditures and for general corporate purposes. The following tables summarize significant debt issuances (in millions). Year Ended December 31, 2015 Duke Duke Duke Maturity Interest Duke Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Unsecured Debt November 2015 (a)(b) April 2024 3.750 % $ 400 $ 400 $ — $ — November 2015 (a)(b) December 2045 4.800 % 600 600 — — First Mortgage Bonds March 2015 (c) June 2045 3.750 % 500 — 500 — August 2015 (a)(d) August 2025 3.250 % 500 — — 500 August 2015 (a)(d) August 2045 4.200 % 700 — — 700 Total issuances $ 2,700 $ 1,000 $ 500 $ 1,200 (a) Proceeds were used to repay short-term money pool and commercial paper borrowing issued to fund a portion of the NCEMPA acquisition, see Note 2 for further information. (b) Proceeds were used to refinance at maturity $300 million of unsecured notes at Progress Energy due January 2016. (c) Proceeds were used to redeem at maturity $500 million of first mortgage bonds due October 2015. (d) Proceeds were used to refinance at maturity $400 million of first mortgage bonds due December 2015. Year Ended December 31, 2014 Duke Duke Duke Maturity Interest Duke Energy Energy Energy Issuance Date Date Rate Energy (Parent) Progress Florida Unsecured Debt April 2014 (a) April 2024 3.750 % $ 600 $ 600 $ — $ — April 2014 (a)(b) April 2017 0.613 % 400 400 — — June 2014 (c) May 2019 11.970 % 108 — — — June 2014 (c) May 2021 13.680 % 110 — — — Secured Debt March 2014 (d) March 2017 0.863 % 225 — — 225 July 2014 (e) July 2036 5.340 % 129 — — — First Mortgage Bonds March 2014 (f) March 2044 4.375 % 400 — 400 — March 2014 (f)(g) March 2017 0.435 % 250 — 250 — November 2014 (h) December 2044 4.150 % 500 — 500 — November 2014 (g)(h) November 2017 0.432 % 200 — 200 — Total issuances $ 2,922 $ 1,000 $ 1,350 $ 225 (a) Proceeds were used to redeem $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes. See Note 13 for additional information related to the redemption of Duke Energy Ohio's tax-exempt bonds. (b) The debt is floating rate based on three-month London Interbank Offered Rate (LIBOR) plus a fixed credit spread of 38 basis points. (c) Proceeds were used to repay $196 million of debt for International Energy and for general corporate purposes. The interest rates include country specific risk premiums. (d) Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 17 for further details. (e) Proceeds were used to fund a portion of Duke Energy's prior investment in the existing Wind Star renewables portfolio. (f) Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. (g) The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 20 basis points. (h) Proceeds were used to redeem $450 million of tax-exempt bonds, repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. Available Credit Facilities Duke Energy has a Master Credit Facility with a capacity of $7.5 billion through January 2020. The Duke Energy Registrants, excluding Progress Energy (Parent), have borrowing capacity under the Master Credit Facility up to specified sublimits for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop the issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder and as security to meet obligations under the Plea Agreements. The table below includes the current borrowing sublimits and available capacity under the Master Credit Facility. December 31, 2015 Duke Duke Duke Duke Duke Duke Duke Energy Energy Energy Energy Energy Energy (in millions) Energy (Parent) Carolinas Progress Florida Ohio Indiana Facility size (a) $ 7,500 $ 3,475 $ 800 $ 1,000 $ 1,200 $ 425 $ 600 Reduction to backstop issuances Commercial paper (b) (3,138 ) (1,531 ) (300 ) (333 ) (709 ) (115 ) (150 ) Outstanding letters of credit (72 ) (65 ) (4 ) (2 ) (1 ) — — Tax-exempt bonds (116 ) — (35 ) — — — (81 ) Coal ash set-aside (c) (500 ) — (250 ) (250 ) — — — Available capacity $ 3,674 $ 1,879 $ 211 $ 415 $ 490 $ 310 $ 369 (a) Represents the sublimit of each borrower. (b) Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets. (c) On May 14, 2015, the United States District Court for the Eastern District of North Carolina approved the separate Plea Agreements entered into by Duke Energy Carolinas, Duke Energy Progress and DEBS, a wholly owned subsidiary of Duke Energy, in connection with the investigation initiated by the USDOJ. Duke Energy Carolinas and Duke Energy Progress are required to each maintain $250 million of available capacity under the Master Credit Facility as security to meet their obligations under the Plea Agreements, in addition to certain other conditions. See Note 5 for further details. In connection with the Merger Agreement with Piedmont, Duke Energy entered into a $4.9 billion senior unsecured bridge financing facility (Bridge Facility) with Barclays Capital, Inc. (Barclays). The Bridge Facility, if drawn upon, may be used (i) to fund the cash consideration for the transaction and (ii) to pay certain fees and expenses in connection with the transaction. In November 2015, Barclays syndicated its commitment under the Bridge Facility to a broader group of lenders. Duke Energy intends to finance the transaction with proceeds raised through the issuance of debt, equity, and other sources and, therefore, does not expect to draw upon the Bridge Facility. See Note 2 for further details. On February 22, 2016, Duke Energy entered into a six months term loan facility (Term Loan) with commitments totaling $1 billion to provide additional flexibility in managing short-term liquidity. The Term Loan can be drawn upon in a single borrowing of up to $1 billion , which must occur no later than 45 calendar days following February 22, 2016. As of February 24, 2016, no amounts have been drawn under the Term Loan. Amounts drawn under this facility, if any, will be due on August 19, 2016. The terms and conditions of this Term Loan are generally consistent with those governing the Master Credit Facility discussed above. Other Debt Matters Duke Energy Florida expects to issue $1.3 billion of securitization bonds related to Crystal River Unit 3 in the first half of 2016. See Note 4 for additional details. In September 2013, Duke Energy filed a registration statement (Form S-3) with the Securities and Exchange Commission (SEC). Under this Form S-3, which is uncapped, the Duke Energy Registrants, excluding Progress Energy, may issue debt and other securities in the future at amounts, prices and with terms to be determined at the time of future offerings. The registration statement also allows for the issuance of common stock by Duke Energy. Duke Energy has an effective Form S-3 with the SEC to sell up to $3 billion of variable denomination floating-rate demand notes, called PremierNotes. The Form S-3 states that no more than $1.5 billion of the notes will be outstanding at any particular time. The notes are offered on a continuous basis and bear interest at a floating rate per annum determined by the Duke Energy PremierNotes Committee, or its designee, on a weekly basis. The interest rate payable on notes held by an investor may vary based on the principal amount of the investment. The notes have no stated maturity date, are non-transferable and may be redeemed in whole or in part by Duke Energy or at the investor’s option at any time. The balance as of December 31, 2015 and 2014 was $1,121 million and $968 million , respectively. The notes are short-term debt obligations of Duke Energy and are reflected as Notes payable and commercial paper on Duke Energy’s Consolidated Balance Sheets. At December 31, 2015 and 2014 , $767 million of debt issued by Duke Energy Carolinas was guaranteed by Duke Energy. Money Pool The Subsidiary Registrants, excluding Progress Energy, receive support for their short-term borrowing needs through participation with Duke Energy and certain of its subsidiaries in a money pool arrangement. Under this arrangement, those companies with short-term funds may provide short-term loans to affiliates participating in this arrangement. The money pool is structured such that the Subsidiary Registrants, excluding Progress Energy, separately manage their cash needs and working capital requirements. Accordingly, there is no net settlement of receivables and payables between money pool participants. Duke Energy (Parent), may loan funds to its participating subsidiaries, but may not borrow funds through the money pool. Accordingly, as the money pool activity is between Duke Energy and its wholly owned subsidiaries, all money pool balances are eliminated within Duke Energy’s Consolidated Balance Sheets. Money pool receivable balances are reflected within Notes receivable from affiliated companies on the Subsidiary Registrants’ Consolidated Balance Sheets. Money pool payable balances are reflected within either Notes payable to affiliated companies or Long-Term Debt Payable to Affiliated Companies on the Subsidiary Registrants’ Consolidated Balance Sheets. Restrictive Debt Covenants The Duke Energy Registrants’ debt and credit agreements contain various financial and other covenants. The Master Credit Facility contains a covenant requiring the debt-to-total capitalization ratio not exceed 65 percent for each borrower. Failure to meet those covenants beyond applicable grace periods could result in accelerated due dates and/or termination of the agreements. As of December 31, 2015 , each of the Duke Energy Registrants were in compliance with all covenants related to their debt agreements. In addition, some credit agreements may allow for acceleration of payments or termination of the agreements due to nonpayment, or acceleration of other significant indebtedness of the borrower or some of its subsidiaries. None of the debt or credit agreements contain material adverse change clauses. Other Loans As of December 31, 2015 and 2014, Duke Energy had loans outstanding of $629 million , including $41 million at Duke Energy Progress and $603 million , including $44 million at Duke Energy Progress, respectively, against the cash surrender value of life insurance policies it owns on the lives of its executives. The amounts outstanding were carried as a reduction of the related cash surrender value that is included in Other within Investments and Other Assets on the Consolidated Balance Sheets. |
Guarantees and Indemnifications
Guarantees and Indemnifications | 12 Months Ended |
Dec. 31, 2015 | |
Guarantees [Abstract] | |
Guarantees and Indemnifications | GUARANTEES AND INDEMNIFICATIONS Duke Energy and Progress Energy have various financial and performance guarantees and indemnifications, which are issued in the normal course of business. As discussed below, these contracts include performance guarantees, stand-by letters of credit, debt guarantees, surety bonds and indemnifications. Duke Energy and Progress Energy enter into these arrangements to facilitate commercial transactions with third parties by enhancing the value of the transaction to the third party. At December 31, 2015 , Duke Energy and Progress Energy do not believe conditions are likely for significant performance under these guarantees. To the extent liabilities are incurred as a result of the activities covered by the guarantees, such liabilities are included on the accompanying Consolidated Balance Sheets. On January 2, 2007, Duke Energy completed the spin-off of its natural gas businesses to shareholders. Guarantees issued by Duke Energy or its affiliates, or assigned to Duke Energy prior to the spin-off, remained with Duke Energy subsequent to the spin-off. Guarantees issued by Spectra Energy Capital, LLC, formerly known as Duke Capital LLC, (Spectra Capital) or its affiliates prior to the spin-off remained with Spectra Capital subsequent to the spin-off, except for guarantees that were later assigned to Duke Energy. Duke Energy has indemnified Spectra Capital against any losses incurred under certain of the guarantee obligations that remain with Spectra Capital. At December 31, 2015 , the maximum potential amount of future payments associated with these guarantees was $205 million , the majority of which expires by 2028. Duke Energy has issued performance guarantees to customers and other third parties that guarantee the payment and performance of other parties, including certain non-wholly owned entities, as well as guarantees of debt of certain non-consolidated entities and less than wholly owned consolidated entities. If such entities were to default on payments or performance, Duke Energy would be required under the guarantees to make payments on the obligations of the less than wholly owned entity. The maximum potential amount of future payments required under these guarantees as of December 31, 2015 , was $253 million . Of this amount, $15 million relates to guarantees issued on behalf of less than wholly owned consolidated entities, with the remainder related to guarantees issued on behalf of third parties and unconsolidated affiliates of Duke Energy. Of the guarantees noted above, $112 million of the guarantees expire between 2016 and 2033, with the remaining performance guarantees having no contractual expiration. Duke Energy has guaranteed certain issuers of surety bonds, obligating itself to make payment upon the failure of a wholly owned and former non-wholly owned entity to honor its obligations to a third party. Under these arrangements, Duke Energy has payment obligations that are triggered by a draw by the third party or customer due to the failure of the wholly owned or former non-wholly owned entity to perform according to the terms of its underlying contract. At December 31, 2015 , Duke Energy had guaranteed $47 million of outstanding surety bonds, most of which have no set expiration. Duke Energy uses bank-issued stand-by letters of credit to secure the performance of wholly owned and non-wholly owned entities to a third party or customer. Under these arrangements, Duke Energy has payment obligations to the issuing bank which are triggered by a draw by the third party or customer due to the failure of the wholly owned or non-wholly owned entity to perform according to the terms of its underlying contract. At December 31, 2015 , Duke Energy had issued a total of $427 million in letters of credit, which expire between 2016 and 2020. The unused amount under these letters of credit was $58 million . Duke Energy and Progress Energy have issued indemnifications for certain asset performance, legal, tax and environmental matters to third parties, including indemnifications made in connection with sales of businesses. At December 31, 2015 , the estimated maximum exposure for these indemnifications was $97 million , the majority of which expires in 2017. Of this amount, $7 million has no contractual expiration. For certain matters for which Progress Energy receives timely notice, indemnity obligations may extend beyond the notice period. Certain indemnifications related to discontinued operations have no limitations as to time or maximum potential future payments. The following table includes the liabilities recognized for the guarantees discussed above. These amounts are primarily recorded in Other within Deferred Credits and other Liabilities on the Consolidated Balance Sheets. As current estimates change, additional losses related to guarantees and indemnifications to third parties, which could be material, may be recorded by the Duke Energy Registrants in the future. December 31, 2015 2014 Duke Energy $ 21 $ 28 Progress Energy 7 13 Duke Energy Florida 7 7 |
Joint Ownership of Generating a
Joint Ownership of Generating and Transmission Facilities | 12 Months Ended |
Dec. 31, 2015 | |
Joint Ownership Of Generating And Transmission Facilities [Abstract] | |
Joint Ownership of Generating and Transmission Facilities | JOINT OWNERSHIP OF GENERATING AND TRANSMISSION FACILITIES The Duke Energy Registrants maintain ownership interests in certain jointly owned generating and transmission facilities. The Duke Energy Registrants are entitled to a share of the generating capacity and output of each unit equal to their respective ownership interests, except as otherwise noted below. The Duke Energy Registrants pay their ownership share of additional construction costs, fuel inventory purchases and operating expenses, except in certain instances where agreements have been executed to limit certain joint owners’ maximum exposure to the additional costs. The Duke Energy Registrants share of revenues and operating costs of the jointly owned facilities is included within the corresponding line in the Consolidated Statements of Operations. Each participant in the jointly owned facilities must provide its own financing, except in certain instances where agreements have been executed to limit certain joint owners’ maximum exposure to the additional costs. The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the Regulated Utilities segment unless otherwise noted. December 31, 2015 Construction Ownership Property, Plant Accumulated Work in Interest and Equipment Depreciation Progress Duke Energy Carolinas Catawba Nuclear Station (units 1 and 2) (a) 19.25 % $ 926 $ 567 $ 9 Duke Energy Florida Intercession City Plant (unit 11) (b) 24 15 — Duke Energy Ohio Transmission facilities (c) Various 85 50 1 Duke Energy Indiana Gibson Station (unit 5) (d) 50.05 % 329 151 5 Vermillion (e) 62.5 % 153 108 — Transmission and local facilities (d) Various 4,094 1,688 — International Energy Brazil – Canoas I and II (f) 47.2 % 160 57 — (a) Jointly owned with North Carolina Municipal Power Agency Number One, NCEMC and Piedmont Municipal Power Agency. (b) Jointly owned with Georgia Power Company (GPC). GPC has exclusive rights to the output of the unit during the months of June through September and pays all fuel and water costs during this period. Duke Energy Florida pays all fuel and water costs during the remaining months. Other costs are allocated 66.67 percent to Duke Energy Florida and the remainder to GPC. (c) Jointly owned with America Electric Power Generation Resources and The Dayton Power and Light Company. (d) Jointly owned with Wabash Valley Power Association, Inc. (WVPA) and Indiana Municipal Power Agency. (e) Jointly owned with WVPA. (f) Jointly owned with Companhia Brasileira de Aluminio and included in the International segment. On July 31, 2015, Duke Energy Progress completed the purchase of NCEMPA's ownership interests in jointly owned facilities. See Note 2 for additional information. Duke Energy Florida owns 98.3 percent interest in the retired Crystal River Unit 3 nuclear plant and is in the process of obtaining the remaining 1.7 percent interest from Seminole Electric Cooperative. On October 30, 2015, Duke Energy Florida completed the purchase of 6.52 percent ownership interest in Crystal River Unit 3 from the Florida Municipal Joint Owners (FMJO) and settled other disputes for $55 million . All costs associated with Crystal River Unit 3 are included within Regulatory assets on the Consolidated Balance Sheets of Duke Energy, Progress Energy and Duke Energy Florida. See Note 4 for additional information. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2015 | |
Asset Retirement Obligation [Abstract] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS Duke Energy records an asset retirement obligation (ARO) when it has a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Certain assets of the Duke Energy Registrants’ have an indeterminate life, such as transmission and distribution facilities, and thus the fair value of the retirement obligation is not reasonably estimable. A liability for these asset retirement obligations will be recorded when a fair value is determinable. The Duke Energy Registrants’ regulated operations accrue costs of removal for property that does not have an associated legal retirement obligation based on regulatory orders from state commissions. These costs of removal are recorded as a regulatory liability in accordance with regulatory accounting treatment. The Duke Energy Registrants do not accrue the estimated cost of removal for any nonregulated assets. See Note 4 for the estimated cost of removal for assets without an associated legal retirement obligation, which are included in Regulatory liabilities on the Consolidated Balance Sheets. The following table presents the AROs recorded on the Consolidated Balance Sheets. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Decommissioning of Nuclear Power Facilities $ 5,072 $ 1,730 $ 3,093 $ 2,349 $ 744 $ — $ — Closure of Ash Impoundments 4,958 2,161 2,196 2,188 7 94 507 Other (a) 234 27 80 30 51 31 18 Total Asset retirement obligation $ 10,264 $ 3,918 $ 5,369 $ 4,567 $ 802 $ 125 $ 525 (a) Includes obligations related to asbestos removal and the closure of certain landfills at fossil generation facilities. Duke Energy Ohio also includes AROs related to the retirement of natural gas mains. Duke Energy also includes AROs related to the removal of renewable energy generation assets. North Carolina and South Carolina Ash Impoundments On September 20, 2014, the Coal Ash Act became law and was amended on June 24, 2015, by the Mountain Energy Act. The Coal Ash Act, as amended, (i) establishes a Coal Ash Management Commission (Coal Ash Commission) to oversee handling of coal ash within the state; (ii) prohibits construction of new and expansion of existing ash impoundments and use of existing impoundments at retired facilities; (iii) requires closure of ash impoundments at Duke Energy Progress' Asheville and Sutton plants and Duke Energy Carolinas' Riverbend and Dan River stations no later than August 1, 2019 (the Mountain Energy Act provides for the potential extension of closure of the Asheville impoundment until 2022); (iv) requires dry disposal of fly ash at active plants, excluding the Asheville Plant, not retired by December 31, 2018; (v) requires dry disposal of bottom ash at active plants, excluding the Asheville Plant, by December 31, 2019, or retirement of active plants; (vi) requires all remaining ash impoundments in North Carolina to be categorized as high-risk, intermediate-risk or low-risk no later than December 31, 2015, by the NCDEQ with the method of closure and timing to be based upon the assigned risk, with closure no later than December 31, 2029; (vii) establishes requirements to deal with groundwater and surface water impacts from impoundments; and (viii) increases the level of regulation for structural fills utilizing coal ash. In January 2016, NCDEQ published its draft risk classifications. These risk rankings were generally determined based on three primary criteria: structural integrity of the impoundments and impact to both surface and groundwaters. NCDEQ categorized 12 basins at four sites as intermediate risk and four basins at three plants as low risk. NCDEQ also categorized nine basins at six plants as “low-to-intermediate” risk, thereby not assigning a proposed risk ranking at this time. The risk rankings of these sites will be based upon receipt of additional data primarily related to groundwater quality and the completion of specific modifications and repairs to the impoundments. NCDEQ is expected to finalize its risk classifications as part of a public comment process. Duke Energy cannot predict the final classification. The Coal Ash Act includes a variance procedure for compliance deadlines and modification of requirements regarding structural fills and compliance boundaries. Provisions of the Coal Ash Act prohibit cost recovery in customer rates for unlawful discharge of ash impoundment waters occurring after January 1, 2014. The Coal Ash Act leaves the decision on cost recovery determinations related to closure of ash impoundments to the normal ratemaking processes before utility regulatory commissions. Duke Energy has and will periodically submit to NCDEQ site-specific coal ash impoundment closure plans or excavation plans in advance of closure. These plans and all associated permits must be approved by NCDEQ before any excavation or closure work can begin. In September 2014, Duke Energy Carolinas executed a consent agreement with the South Carolina Department of Health and Environmental Control (SCDHEC) requiring the excavation of an inactive ash basin and ash fill area at the W.S. Lee Steam Station. As part of this agreement, in December 2014, Duke Energy Carolinas filed an ash removal plan and schedule with SCDHEC. In April 2015, the federal Coal Combustion Residuals (CCR) rules were published and Duke Energy Carolinas subsequently executed an agreement with the conservation groups Upstate Forever and Save Our Saluda that requires Duke Energy Carolinas to remediate all active and inactive ash storage areas at the W.S. Lee Steam Station. Coal-fired generation at W.S. Lee ceased in 2014 and unit 3 was converted to natural gas in March 2015. In July 2015, Duke Energy Progress executed a consent agreement with the SCDHEC requiring the excavation of an inactive ash fill area at the Robinson Plant within eight years. Coal ash impoundments at the Robinson Plant and W.S. Lee Station sites are required to be closed pursuant to the recently issued CCR rule and the provisions of these consent agreements are consistent with the federal CCR closure requirements. Coal Combustion Residuals On April 17, 2015, the EPA published in the Federal Register a rule to regulate the disposal of CCR from electric utilities as solid waste. The federal regulation, which became effective in October 2015, classifies CCR as nonhazardous waste under Subtitle D of the Resource Conservation and Recovery Act and allows for beneficial use of CCR with some restrictions. The regulation applies to all new and existing landfills, new and existing surface impoundments receiving CCR and existing surface impoundments that are no longer receiving CCR but contain liquid located at stations currently generating electricity (regardless of fuel source). The rule establishes requirements regarding landfill design, structural integrity design and assessment criteria for surface impoundments, groundwater monitoring and protection procedures and other operational and reporting procedures to ensure the safe disposal and management of CCR. In addition to the requirements of the federal CCR regulation, CCR landfills and surface impoundments will continue to be independently regulated by most states. As a result of the EPA rule, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana recorded additional asset retirement obligation amounts during 2015. Coal Ash Liability The ARO amount recorded on the Consolidated Balance Sheets is based upon estimated closure costs for impacted ash impoundments. The amount recorded represents the discounted cash flows for estimated closure costs based upon either specific closure plans or the probability weightings of the potential closure methods as evaluated on a site-by-site basis. Actual costs to be incurred will be dependent upon factors that vary from site to site. The most significant factors are the method and time frame of closure at the individual sites. Closure methods considered include removing the water from the basins, consolidating material as necessary, and capping the ash with a synthetic barrier, excavating and relocating the ash to a lined structural fill or lined landfill, or recycling the ash for concrete or some other beneficial use. The ultimate method and timetable for closure will be in compliance with standards set by federal and state regulations. The ARO amount will be adjusted as additional information is gained through the closure process, including acceptance and approval of compliance approaches which may change management assumptions, and may result in a material change to the balance. Asset retirement costs associated with the asset retirement obligations for operating plants and retired plants are included in Net property, plant and equipment, and Regulatory assets, respectively, on the Consolidated Balance Sheets. See Note 4 for additional information on Regulatory assets related to AROs. Cost recovery for future expenditures will be pursued through the normal ratemaking process with federal and state utility commissions, which permit recovery of necessary and prudently incurred costs associated with Duke Energy’s regulated operations. Nuclear Decommissioning Liability Asset retirement obligations related to nuclear decommissioning are based on site-specific cost studies. The NCUC, PSCSC, and FPSC require updated cost estimates for decommissioning nuclear plants every five years. The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs in the table below are presented in dollars of the year of the cost study and include costs to decommission plant components not subject to radioactive contamination. Annual Funding Decommissioning (in millions) Requirement (a) Costs (a)(b) Year of Cost Study Duke Energy $ 14 $ 8,130 2013 and 2014 Duke Energy Carolinas — 3,420 2013 Duke Energy Progress 14 3,550 2014 Duke Energy Florida — 1,160 2013 (a) Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida. (b) Amounts include the Subsidiary Registrant's ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. Duke Energy Progress’ site-specific nuclear decommissioning cost studies were filed with the NCUC and PSCSC in 2015. New funding studies were completed and filed with the NCUC and PSCSC in 2015 as well. Accordingly, in January 2016 Duke Energy Progress received approval from the PSCSC to reduce the annual funding requirement. The NCUC will decide on the appropriate funding level in 2016. Duke Energy Progress will complete and file new funding studies with the FERC in 2016. Nuclear Decommissioning Trust Funds (NDTF) Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida each maintain Nuclear Decommissioning Trust Funds (NDTF) that are intended to pay for the decommissioning costs of the respective nuclear power plants. The NDTF investments are managed and invested in accordance with applicable requirements of various regulatory bodies including the NRC, FERC, NCUC, PSCSC, FPSC and the Internal Revenue Service. Use of the NTDF investments is restricted to nuclear decommissioning activities including license termination, spent fuel and site restoration. The license termination and spent fuel obligations relate to contaminated decommissioning and are recorded as ARO’s. The site restoration obligation relates to non-contaminated decommissioning and is recorded to cost of removal within Regulatory liabilities on the Consolidated Balance Sheets. The following table presents the fair value of NDTF assets legally restricted for purposes of settling asset retirement obligations associated with nuclear decommissioning. December 31, (in millions) 2015 2014 Duke Energy $ 4,670 $ 5,182 Duke Energy Carolinas 2,686 2,678 Duke Energy Progress (a) 1,984 1,701 Duke Energy Florida (a)(b) — 803 (a) Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida. (b) Duke Energy Florida is actively decommissioning Crystal River Unit 3 and was granted an exemption from the NRC which allows for unrestricted use of the NDTF. Therefore, the entire balance of Duke Energy Florida’s NDTF may be applied towards license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3. Nuclear Operating Licenses Operating licenses for nuclear units are potentially subject to extension. The following table includes the current expiration of nuclear operating licenses. Duke Energy Florida has requested the NRC terminate the operating license for Crystal River Unit 3 as it permanently ceased operation in February 2013. Refer to Note 4 for further information on decommissioning activity and transition to SAFSTOR. Unit Year of Expiration Duke Energy Carolinas Catawba Units 1 and 2 2043 McGuire Unit 1 2041 McGuire Unit 2 2043 Oconee Units 1 and 2 2033 Oconee Unit 3 2034 Duke Energy Progress Brunswick Unit 1 2036 Brunswick Unit 2 2034 Harris 2046 Robinson 2030 ARO Liability Rollforward The following table presents changes in the liability associated with AROs. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Balance at December 31, 2013 4,958 1,594 2,570 1,737 833 28 30 Acquisitions 4 — — — — — — Accretion expense (a) 246 113 135 97 38 2 2 Liabilities settled (b) (68 ) — (68 ) — (68 ) — — Liabilities incurred in the current year (c) 3,500 1,717 1,783 1,783 — — — Revisions in estimates of cash flows (d) (174 ) 4 291 288 3 (3 ) — Balance at December 31, 2014 8,466 3,428 4,711 3,905 806 27 32 Acquisitions (e) 226 — 226 204 23 — — Accretion expense (a) 384 165 203 169 34 4 15 Liabilities settled (b) (422 ) (200 ) (195 ) (125 ) (70 ) (4 ) (23 ) Liabilities incurred in the current year (c) 1,016 178 282 282 — 116 418 Revisions in estimates of cash flows (f) 594 347 142 132 9 (18 ) 83 Balance at December 31, 2015 $ 10,264 $ 3,918 $ 5,369 $ 4,567 $ 802 $ 125 $ 525 (a) Substantially all accretion expense for the years ended December 31, 2015 and 2014 relates to Duke Energy’s regulated electric operations and has been deferred in accordance with regulatory accounting treatment. (b) For 2014, amounts relate to nuclear decommissioning of Crystal River Unit 3. For 2015, amounts primarily relate to ash impoundment closures and nuclear decommissioning of Crystal River Unit 3. (c) For 2014, amounts primarily relate to AROs recorded as a result of the Coal Ash Act and an agreement with the SCDHEC related to the W.S. Lee Steam Station. For 2015, amounts primarily relate to AROs recorded as a result of the EPA's rule for disposal of CCR. (d) Amounts for Progress Energy and Duke Energy Progress primarily relate to Duke Energy Progress' site-specific nuclear decommissioning cost studies. The Duke Energy amount also includes the impact of Duke Energy Progress' site-specific nuclear decommissioning cost studies on purchase accounting amounts. (e) Duke Energy Progress amount relates to the NCEMPA acquisition. See footnote 2 for additional information. (f) Primarily relates to the closure of ash impoundments. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants. December 31, 2015 Estimated Useful Duke Duke Duke Duke Duke Life Duke Energy Progress Energy Energy Energy Energy (in millions) (Years) Energy Carolinas Energy Progress Florida Ohio Indiana Land $ 1,466 $ 407 $ 719 $ 392 $ 327 $ 118 $ 108 Plant – Regulated Electric generation, distribution and transmission 8 - 100 87,593 33,623 36,422 22,888 13,534 4,429 13,118 Natural gas transmission and distribution 12 - 67 2,322 — — — — 2,322 — Other buildings and improvements 15 - 100 1,480 477 621 294 322 204 179 Plant – Nonregulated Electric generation, distribution and transmission 1 - 30 3,348 — — — — — — Other buildings and improvements 5 - 50 2,363 — — — — — — Nuclear fuel 3,194 1,827 1,367 1,367 — — — Equipment 3 - 38 1,791 368 530 398 132 344 173 Construction in process 4,525 1,860 1,827 1,118 709 180 214 Other 2 - 60 4,744 836 1,180 856 319 153 215 Total property, plant and equipment (a)(d) 112,826 39,398 42,666 27,313 15,343 7,750 14,007 Total accumulated depreciation – regulated (b)(c)(d) (35,367 ) (13,521 ) (14,867 ) (10,141 ) (4,720 ) (2,507 ) (4,484 ) Total accumulated depreciation – nonregulated (c)(d) (2,298 ) — — — — — — Generation facilities to be retired, net 548 — 548 548 — — — Total net property, plant and equipment $ 75,709 $ 25,877 $ 28,347 $ 17,720 $ 10,623 $ 5,243 $ 9,523 (a) Includes capitalized leases of $1,470 million , $40 million , $302 million , $144 million , $158 million , $96 million , and $39 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily within Plant - Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $85 million , $7 million and $78 million , respectively, of accumulated amortization of capitalized leases. (b) Includes $1,621 million , $976 million , $645 million and $645 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. (c) Includes accumulated amortization of capitalized leases of $58 million , $11 million , $27 million and $7 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. (d) Includes gross property, plant and equipment cost of consolidated VIEs of $2,033 million and accumulated depreciation of consolidated VIEs of $327 million at Duke Energy. December 31, 2014 Estimated Useful Duke Duke Duke Duke Duke Life Duke Energy Progress Energy Energy Energy Energy (in millions) (Years) Energy Carolinas Energy Progress Florida Ohio Indiana Land $ 1,459 $ 403 $ 704 $ 380 $ 324 $ 114 $ 108 Plant – Regulated Electric generation, distribution and transmission 2 - 138 82,206 31,751 33,672 20,616 13,056 3,956 11,911 Natural gas transmission and distribution 12 - 67 2,230 — — — — 2,230 — Other buildings and improvements 9 - 100 1,445 465 607 286 318 200 173 Plant – Nonregulated Electric generation, distribution and transmission 1- 30 2,380 — — — — — — Other buildings and improvements 5 - 50 2,498 — — — — — — Nuclear fuel 2,865 1,676 1,190 1,190 — — — Equipment 3 - 34 1,762 341 506 388 118 330 166 Construction in process 4,519 2,081 1,215 908 307 97 481 Other 5 - 80 3,497 655 756 439 310 214 195 Total property, plant and equipment (a)(d) 104,861 37,372 38,650 24,207 14,433 7,141 13,034 Total accumulated depreciation – regulated (b)(c)(d) (32,628 ) (12,700 ) (13,506 ) (9,021 ) (4,478 ) (2,213 ) (4,219 ) Total accumulated depreciation – nonregulated (c)(d) (2,196 ) — — — — — — Generation facilities to be retired, net 9 — — — — 9 — Total net property, plant and equipment $ 70,046 $ 24,672 $ 25,144 $ 15,186 $ 9,955 $ 4,937 $ 8,815 (a) Includes capitalized leases of $1,548 million , $40 million , $315 million , $146 million , $169 million , $98 million , and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $72 million , $5 million and $67 million , respectively, of accumulated amortization of capitalized leases. (b) Includes $1,408 million , $847 million , $561 million and $561 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. (c) Includes accumulated amortization of capitalized leases of $52 million , $8 million , $25 million and $6 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. (d) Includes gross property, plant and equipment cost of consolidated VIEs of $1,873 million and accumulated depreciation of consolidated VIEs of $257 million at Duke Energy. The following table presents capitalized interest, which includes the debt component of AFUDC. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy $ 98 $ 75 $ 89 Duke Energy Carolinas 38 38 41 Progress Energy 24 11 19 Duke Energy Progress 20 10 16 Duke Energy Florida 4 1 3 Duke Energy Ohio 10 10 11 Duke Energy Indiana 6 6 9 Operating Leases Duke Energy's Commercial Portfolio segment operates various renewable energy projects and sells the generated output to utilities, electric cooperatives, municipalities, and commercial and industrial customers through long-term contracts. In certain situations, these long-term contracts and the associated renewable energy projects qualify as operating leases. Rental income from these leases is accounted for as Operating Revenues in the Consolidated Statements of Operations. There are no minimum lease payments as all payments are contingent based on actual electricity generated by the renewable energy projects. Contingent lease payments were $172 million , $164 million and $154 million for the years ended December 31, 2015, 2014 and 2013. As of December 31, 2015, renewable energy projects owned by Duke Energy and accounted for as operating leases had a cost basis of $2,455 million and accumulated depreciation of $258 million . These assets are principally classified as nonregulated electric generation and transmission assets. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill The following table presents goodwill by reportable operating segment for Duke Energy. Duke Energy Regulated International Commercial (in millions) Utilities Energy Portfolio Total Goodwill at December 31, 2014 (a) $ 15,950 $ 307 $ 64 $ 16,321 Foreign exchange and other changes — (36 ) — (36 ) Acquisitions — — 58 58 Goodwill at December 31, 2015 $ 15,950 $ 271 $ 122 $ 16,343 (a) Excludes fully impaired Goodwill related to the nonregulated Midwest Generation business which was sold in the second quarter of 2015. See Note 2 for further information related to the sale. Duke Energy Ohio Duke Energy Ohio's Goodwill balance of $920 million is included in the Regulated Utilities operating segment and presented net of accumulated impairment charges of $216 million on the Consolidated Balance Sheets at December 31, 2015 and 2014. Progress Energy Progress Energy's Goodwill is included in the Regulated Utilities operating segment and there are no accumulated impairment charges. Impairment Testing Duke Energy, Duke Energy Ohio and Progress Energy perform annual goodwill impairment tests each year as of August 31. Duke Energy, Duke Energy Ohio and Progress Energy update their test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As the fair value of Duke Energy, Duke Energy Ohio and Progress Energy’s reporting units exceeded their respective carrying values at the date of the annual impairment analysis, no impairment charges were recorded in 2015 . Intangible Assets The following tables show the carrying amount and accumulated amortization of intangible assets within Other on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2015 and 2014 . December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Emission allowances $ 20 $ 1 $ 6 $ 2 $ 4 $ — $ 14 Renewable energy certificates 116 30 80 80 — 5 — Gas, coal and power contracts 24 — — — — — 24 Wind development rights 115 — — — — — — Other 68 — — — — — — Total gross carrying amounts 343 31 86 82 4 5 38 Accumulated amortization – gas, coal and power contracts (16 ) — — — — — (16 ) Accumulated amortization – wind development rights (18 ) — — — — — — Accumulated amortization – other (24 ) — — — — — — Total accumulated amortization (58 ) — — — — — (16 ) Total intangible assets, net $ 285 $ 31 $ 86 $ 82 $ 4 $ 5 $ 22 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Emission allowances $ 23 $ 1 $ 7 $ 3 $ 4 $ — $ 16 Renewable energy certificates 97 25 69 69 — 3 — Gas, coal and power contracts 24 — — — — — 24 Wind development rights 97 — — — — — — Other 76 — — — — — — Total gross carrying amounts 317 26 76 72 4 3 40 Accumulated amortization – gas, coal and power contracts (15 ) — — — — — (15 ) Accumulated amortization – wind development rights (14 ) — — — — — — Accumulated amortization – other (25 ) — — — — — — Total accumulated amortization (54 ) — — — — — (15 ) Total intangible assets, net $ 263 $ 26 $ 76 $ 72 $ 4 $ 3 $ 25 Amortization Expense The following table presents amortization expense for gas, coal and power contracts, wind development rights and other intangible assets. December 31, (in millions) 2015 2014 2013 Duke Energy $ 4 $ 6 $ 13 Duke Energy Ohio — 2 8 Duke Energy Indiana 1 1 1 The table below shows the expected amortization expense for the next five years for intangible assets as of December 31, 2015 . The expected amortization expense includes estimates of emission allowances consumption and estimates of consumption of commodities such as gas and coal under existing contracts, as well as estimated amortization related to the wind development projects. The amortization amounts discussed below are estimates and actual amounts may differ from these estimates due to such factors as changes in consumption patterns, sales or impairments of emission allowances or other intangible assets, delays in the in-service dates of wind assets, additional intangible acquisitions and other events. (in millions) 2016 2017 2018 2019 2020 Duke Energy $ 8 $ 8 $ 8 $ 7 $ 7 Duke Energy Indiana 2 2 2 2 2 |
Investments in Unconsolidated A
Investments in Unconsolidated Affiliates | 12 Months Ended |
Dec. 31, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investment in Unconsolidated Affiliates | INVESTMENTS IN UNCONSOLIDATED AFFILIATES EQUITY METHOD INVESTMENTS Investments in domestic and international affiliates that are not controlled by Duke Energy, but over which it has significant influence, are accounted for using the equity method. As of December 31, 2015 , the carrying amount of investments in affiliates with carrying amounts greater than zero exceeded the underlying investment by $60 million . These differences are attributable to intangibles associated with underlying contracts which are reflected in the investments balance and the equity in earnings reported in the table below. The following table presents Duke Energy’s investments in unconsolidated affiliates accounted for under the equity method, as well as the respective equity in earnings, by segment. Years Ended December 31, 2015 2014 2013 Equity in Equity in Equity in (in millions) Investments earnings Investments earnings earnings Regulated Utilities $ 2 $ (4 ) $ 3 $ (3 ) $ (1 ) International Energy 39 74 69 120 110 Commercial Portfolio 433 (3 ) 258 10 7 Other 25 2 28 3 6 Total $ 499 $ 69 $ 358 $ 130 $ 122 During the years ended December 31, 2015 , 2014 and 2013 , Duke Energy received distributions from equity investments of $104 million , $154 million and $144 million , respectively, which are included in Other assets within Cash Flows from Operating Activities on the Consolidated Statements of Cash Flows. Significant investments in affiliates accounted for under the equity method are discussed below. International Energy Duke Energy owns a 25 percent indirect interest in NMC, which owns and operates a methanol and MTBE business in Jubail, Saudi Arabia. International Energy’s economic ownership interest will decrease to 17.5 percent upon successful startup of NMC's polyacetal production facility, which is expected to occur in January 2017. Commercial Portfolio Investments accounted for under the equity method primarily consist of Duke Energy’s approximate 50 percent ownership interest in the five Catamount Sweetwater, LLC wind farm projects (Phase I-V), and DS Cornerstone, LLC. All of these entities own wind power projects in the United States. Duke Energy also owns a 50 percent interest in Duke American Transmission Co., LLC, which builds, owns and operates electric transmission facilities in North America. Duke Energy also owns a 40 percent and 7.5 percent interest in Atlantic Coast Pipeline, LLC and Sabal Trail Transmission, LLC, respectively, which will build and own natural gas pipelines. Other On December 31, 2013, Duke Energy completed the sale of its 50 percent ownership interest in DukeNet, which owned and operated telecommunications businesses, to Time Warner Cable, Inc. After retiring existing DukeNet debt and payment of transaction expenses, Duke Energy received $215 million in cash proceeds and recorded a $105 million pretax gain in the fourth quarter of 2013. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS The Subsidiary Registrants engage in related party transactions in accordance with the applicable state and federal commission regulations. Refer to the Consolidated Balance Sheets of the Subsidiary Registrants for balances due to or due from related parties. Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 914 $ 851 $ 927 Indemnification coverages (b) 24 21 22 JDA revenue (c) 51 133 121 JDA expense (c) 183 198 116 Progress Energy Corporate governance and shared services provided by Duke Energy (a) $ 712 $ 732 $ 290 Corporate governance and shared services provided to Duke Energy (d) — — 96 Indemnification coverages (b) 38 33 34 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Progress Corporate governance and shared service expenses (a) $ 403 $ 386 $ 266 Indemnification coverages (b) 16 17 20 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Florida Corporate governance and shared service expenses (a) $ 309 $ 346 $ 182 Indemnification coverages (b) 22 16 14 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 342 $ 316 $ 347 Indemnification coverages (b) 6 13 15 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 349 $ 384 $ 422 Indemnification coverages (b) 9 11 14 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (b) The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. (d) In 2013, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. In addition to the amounts presented above, the Subsidiary Registrants record the impact on net income of other affiliate transactions, including rental of office space, participation in a money pool arrangement, other operational transactions and their proportionate share of certain charged expenses. See Note 6 for more information regarding money pool. The net impact of these transactions was not material for the years ended December 31, 2015 , 2014 and 2013 for the Subsidiary Registrants. As discussed in Note 17 , certain trade receivables have been sold by Duke Energy Ohio and Duke Energy Indiana to CRC, an affiliate formed by a subsidiary of Duke Energy. The proceeds obtained from the sales of receivables are largely cash but do include a subordinated note from CRC for a portion of the purchase price. Duke Energy Ohio's nonregulated indirect subsidiary, Duke Energy Commercial Asset Management (DECAM), owned generating plants included in the Disposal Group sold to Dynegy on April 2, 2015. On April 1, 2015, Duke Energy Ohio distributed its indirect ownership interest in DECAM to a Duke Energy subsidiary and non-cash settled DECAM's intercompany loan payable of $294 million . The intercompany loan payable recorded in Notes payable to affiliated companies on Duke Energy Ohio’s Consolidated Balance Sheets was $459 million as of December 31, 2014. Refer to Note 2 for further information on the sale of the Disposal Group. Intercompany Income Taxes Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and jurisdictional returns. The Subsidiary Registrants have a tax sharing agreement with Duke Energy for the allocation of consolidated tax liabilities and benefits. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables for the subsidiary registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana December 31, 2015 Intercompany income tax receivable $ 122 $ 120 $ 104 $ — $ 54 $ — Intercompany income tax payable — — — 96 — 47 December 31, 2014 Intercompany income tax receivable $ 43 $ 713 $ 267 $ 174 $ 39 $ 95 |
Derivatives and Hedging
Derivatives and Hedging | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging | DERIVATIVES AND HEDGING The Duke Energy Registrants use commodity and interest rate contracts to manage commodity price risk and interest rate risk. The primary use of commodity derivatives is to hedge the generation portfolio against changes in the prices of electricity and natural gas. Interest rate swaps are used to manage interest rate risk associated with borrowings. All derivative instruments not identified as normal purchase/normal sale (NPNS) are recorded at fair value as assets or liabilities on the Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities on the Consolidated Statements of Cash Flows. INTEREST RATE RISK The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward-starting interest rate swaps may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt. Cash Flow Hedges For a derivative designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction effects earnings. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. Gains and losses reclassified out of AOCI for the years ended December 31, 2015 and 2014 were not material. Duke Energy's interest rate derivatives designated as hedges include interest rate swaps used to hedge existing debt within the International Energy and Renewables' businesses. Undesignated Contracts Undesignated contracts include contracts not designated as a hedge because they are accounted for under regulatory accounting and contracts that do not qualify for hedge accounting. Duke Energy’s interest rate swaps for its Regulated Utilities operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense. Interest rate contracts issued in 2015 that use regulatory accounting include $400 million notional amount of forward-starting interest rate swaps issued in October 2015 at Duke Energy Carolinas to hedge debt anticipated to be issued in 2018. In January 2015, Duke Energy Progress executed fixed-to-floating rate swaps that also use regulatory accounting. The swaps were issued to economically convert $250 million of fixed-rate first mortgage bonds due September 15, 2021, to floating-rate with an initial rate of approximately 1.75 percent . As of December 31, 2015, Duke Energy entered into $900 million of forward-starting interest rate swaps to lock in components of interest rates for the expected financing of the Piedmont acquisition. In January 2016, Duke Energy entered into an additional $500 million notional amount. The swaps do not qualify for hedge accounting and are marked-to-market, with any gains or losses included in earnings. The impact on net income was not material in 2015. The swaps will be terminated in conjunction with the acquisition financing. See note 2 for additional information related to the Piedmont acquisition. The following table shows notional amounts for derivatives related to interest rate risk. December 31, 2015 December 31, 2014 Duke Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Duke Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Energy Energy Florida Ohio Cash flow hedges (a) $ 700 $ — $ — $ — $ — $ — $ 750 $ — $ — $ — Undesignated contracts 1,827 400 500 250 250 27 277 250 250 27 Total notional amount $ 2,527 $ 400 $ 500 $ 250 $ 250 $ 27 $ 1,027 $ 250 $ 250 $ 27 (a) Duke Energy includes amounts related to consolidated Variable Interest Entities (VIEs) of $497 million and $541 million at December 31, 2015 and 2014 , respectively. COMMODITY PRICE RISK The Duke Energy Registrants are exposed to the impact of changes in the prices of electricity, coal and natural gas. Exposure to commodity price risk is influenced by a number of factors including the term of contracts, the liquidity of markets and delivery locations. Regulated public utilities may have cost-based rate regulations and various other cost recovery mechanisms that result in a limited exposure to market volatility of commodity fuel prices. Financial derivative contracts, where approved by the respective state regulatory commissions, can be used to manage the risk of price volatility. At December 31, 2015 all of Duke Energy's open commodity derivative instruments were undesignated because they are accounted for under regulatory accounting. Mark-to-market gains or losses on contracts that use regulatory accounting are deferred as regulatory liabilities or regulatory assets, respectively. Undesignated contracts expire as late as 2048 . The Subsidiary Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses. These clauses allow for the recovery of fuel and fuel-related costs, including settlements of undesignated derivatives for fuel commodities, and portions of purchased power costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded as an adjustment to Fuel used in electric generation and purchased power – regulated or as Operating Revenues: Regulated electric on the Consolidated Statements of Operations with an offsetting impact on regulatory assets or liabilities. Therefore, due to the regulatory accounting followed by the Subsidiary Registrants for undesignated derivatives, realized and unrealized gains and losses on undesignated commodity derivatives do not have an immediate impact on reported net income. Mark-to-market gains and losses related to the nonregulated Midwest generation business were recorded in discontinued operations and open positions at April 2, 2014, were included in the sale of the Disposal Group. Refer to Note 2 for further information on the sale of the Disposal Group. Gains and losses on undesignated derivative contracts for nonregulated continuing operations are not material. Volumes The tables below show information relating to volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Electricity (gigawatt-hours) 70 — — — — 34 36 Natural gas (millions of decatherms) 398 66 332 117 215 — — December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Electricity (gigawatt-hours) (a)(b) 25,370 — — — — 19,141 — Natural gas (millions of decatherms) (a) 676 35 328 116 212 313 — (a) Duke Energy Ohio includes amounts related to the Disposal Group. Refer to Note 2 for further information on the sale. (b) Amounts at Duke Energy Ohio include intercompany positions that eliminate at Duke Energy. LOCATION AND FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown. Derivative Assets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Not Designated as Hedging Instruments Current 12 — 1 — 1 3 7 Noncurrent 4 — 4 — 4 — — Total Derivative Assets – Commodity Contracts $ 16 $ — $ 5 $ — $ 5 $ 3 $ 7 Interest Rate Contracts Designated as Hedging Instruments Noncurrent $ 4 $ — $ — $ — $ — $ — $ — Not Designated as Hedging Instruments Current 6 — 6 2 2 — — Total Derivative Assets – Interest Rate Contracts $ 10 $ — $ 6 $ 2 $ 2 $ — $ — Total Derivative Assets $ 26 $ — $ 11 $ 2 $ 7 $ 3 $ 7 Derivative Liabilities December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Not Designated as Hedging Instruments Current $ 256 $ 32 $ 222 $ 77 $ 145 $ — $ — Noncurrent 100 8 92 16 71 — — Total Derivative Liabilities – Commodity Contracts $ 356 $ 40 $ 314 $ 93 $ 216 $ — $ — Interest Rate Contracts Designated as Hedging Instruments Current $ 11 $ — $ — $ — $ — $ — $ — Noncurrent 33 — — — — — — Not Designated as Hedging Instruments Current 4 — 3 — — 1 — Noncurrent 15 5 5 5 — 6 — Total Derivative Liabilities – Interest Rate Contracts $ 63 $ 5 $ 8 $ 5 $ — $ 7 $ — Total Derivative Liabilities $ 419 $ 45 $ 322 $ 98 $ 216 $ 7 $ — Derivative Assets December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Not Designated as Hedging Instruments Current Assets: Other $ 18 $ — $ — $ — $ — $ 1 $ 14 Current Assets: Assets held for sale 15 — — — — 28 — Investments and Other Assets: Other 3 — — — — — — Investments and Other Assets: Assets held for sale 15 — — — — 26 — Current Liabilities: Other 1 — — — — — — Current Liabilities: Assets held for sale 174 — — — — 175 — Deferred Credits and Other Liabilities: Other 2 — — — — — — Deferred Credits and Other Liabilities: Assets held for sale 111 — — — — 111 — Total Derivative Assets – Commodity Contracts $ 339 $ — $ — $ — $ — $ 341 $ 14 Interest Rate Contracts Designated as Hedging Instruments Investments and Other Assets: Other 10 — — — — — — Not Designated as Hedging Instruments Current Assets: Other 2 — 2 — 2 — — Total Derivative Assets – Interest Rate Contracts $ 12 $ — $ 2 $ — $ 2 $ — $ — Total Derivative Assets $ 351 $ — $ 2 $ — $ 2 $ 341 $ 14 Derivative Liabilities December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Designated as Hedging Instruments Current Liabilities: Other $ — $ — $ 1 $ 1 $ — $ — $ — Not Designated as Hedging Instruments Current Assets: Assets held for sale — — — — — 4 — Investments and Other Assets: Assets held for sale — — — — — 4 — Current Liabilities: Other 307 14 288 108 180 — — Current Liabilities: Assets held for sale 253 — — — — 252 — Deferred Credits and Other Liabilities: Other 91 5 80 23 57 — — Deferred Credits and Other Liabilities: Assets held for sale 208 — — — — 207 — Total Derivative Liabilities – Commodity Contracts $ 859 $ 19 $ 369 $ 132 $ 237 $ 467 $ — Interest Rate Contracts Designated as Hedging Instruments Current Liabilities: Other $ 13 $ — $ — $ — $ — $ — $ — Deferred Credits and Other Liabilities: Other 29 — — — — — — Not Designated as Hedging Instruments Current Liabilities: Other 1 — — — — 1 — Deferred Credits and Other Liabilities: Other 7 — 2 — 2 5 — Total Derivative Liabilities – Interest Rate Contracts $ 50 $ — $ 2 $ — $ 2 $ 6 $ — Total Derivative Liabilities $ 909 $ 19 $ 371 $ 132 $ 239 $ 473 $ — OFFSETTING ASSETS AND LIABILITIES The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The Gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below. Derivative Assets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current Gross amounts recognized $ 18 $ — $ 7 $ 2 $ 3 $ 3 $ 7 Gross amounts offset (3 ) — (2 ) — (2 ) — — Net amounts presented in Current Assets: Other $ 15 $ — $ 5 $ 2 $ 1 $ 3 $ 7 Noncurrent Gross amounts recognized $ 8 $ — $ 4 $ — $ 4 $ — $ — Gross amounts offset (4 ) — (4 ) — (4 ) — — Net amounts presented in Investments and Other Assets: Other $ 4 $ — $ — $ — $ — $ — $ — Derivative Liabilities December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current Gross amounts recognized $ 271 $ 32 $ 225 $ 77 $ 145 $ 1 $ — Gross amounts offset (22 ) — (21 ) (1 ) (20 ) — — Net amounts presented in Current Liabilities: Other $ 249 $ 32 $ 204 $ 76 $ 125 $ 1 $ — Noncurrent Gross amounts recognized $ 148 $ 13 $ 97 $ 21 $ 71 $ 6 $ — Gross amounts offset (16 ) — (15 ) — (15 ) — — Net amounts presented in Deferred Credits and Other Liabilities: Other $ 132 $ 13 $ 82 $ 21 $ 56 $ 6 $ — Derivative Assets December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current (a) Gross amounts recognized $ 210 $ — $ 2 $ — $ 2 $ 204 $ 14 Gross amounts offset (153 ) — (2 ) — (2 ) (179 ) — Net amounts subject to master netting 57 — — — — 25 14 Amounts not subject to master netting — — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 57 $ — $ — $ — $ — $ 25 $ 14 Noncurrent (b) Gross amounts recognized $ 136 $ — $ — $ — $ — $ 137 $ — Gross amounts offset (88 ) — — — — (114 ) — Net amounts subject to master netting 48 — — — — 23 — Amounts not subject to master netting 5 — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 53 $ — $ — $ — $ — $ 23 $ — (a) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Current Assets on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Assets held for sale within Current Assets on the Condensed Consolidated Balance Sheets. (b) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Investments and Other Assets on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Assets held for sale within Investments and Other Assets on the Condensed Consolidated Balance Sheets. Derivative Liabilities December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current (c) Gross amounts recognized $ 573 $ 14 $ 289 $ 109 $ 180 $ 257 $ — Gross amounts offset (213 ) — (17 ) — (17 ) (222 ) — Net amounts subject to master netting 360 14 272 109 163 35 — Amounts not subject to master netting 1 — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 361 $ 14 $ 272 $ 109 $ 163 $ 35 $ — Noncurrent (d) Gross amounts recognized $ 319 $ 5 $ 82 $ 23 $ 59 $ 216 $ — Gross amounts offset (173 ) — (8 ) — (8 ) (193 ) — Net amounts subject to master netting 146 5 74 23 51 23 — Amounts not subject to master netting 16 — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 162 $ 5 $ 74 $ 23 $ 51 $ 23 $ — (c) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Current Liabilities on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Liabilities associated with assets held for sale within Current Liabilities on the Condensed Consolidated Balance Sheets. (d) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Deferred Credits and Other Liabilities on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Liabilities associated with assets held for sale within Deferred Credits and Other Liabilities on the Condensed Consolidated Balance Sheets. OBJECTIVE CREDIT CONTINGENT FEATURES Certain derivative contracts contain objective credit contingent features. These features include the requirement to post cash collateral or letters of credit if specific events occur, such as a credit rating downgrade below investment grade. The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit-risk-related payment provisions. Amounts for Duke Energy Indiana were not material. December 31, 2015 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Aggregate fair value of derivatives in a net liability position $ 334 $ 45 $ 290 $ 93 $ 194 $ — Fair value of collateral already posted 30 — 30 — 30 — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 304 45 260 93 164 — December 31, 2014 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio (a) Aggregate fair value of derivatives in a net liability position $ 845 $ 19 $ 370 $ 131 $ 239 $ 456 Fair value of collateral already posted 209 — 23 — 23 186 Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 407 19 347 131 216 41 (a) Duke Energy Ohio includes amounts related to the Disposal Group for the year ended December 31, 2014. The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative must be executed with the same counterparty under the same master netting arrangement. Amounts disclosed below represent the receivables related to the right to reclaim cash collateral under master netting arrangements. December 31, 2015 December 31, 2014 (in millions) Receivables Receivables Duke Energy Amounts offset against net derivative positions $ 30 $ 145 Amounts not offset against net derivative positions — 64 Progress Energy Amounts offset against net derivative positions 30 23 Duke Energy Florida Amounts offset against net derivative positions 30 23 Duke Energy Ohio Amounts offset against net derivative positions — 122 Amounts not offset against net derivative positions — 64 |
Investments in Debt and Equity
Investments in Debt and Equity Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Equity Securities | INVESTMENTS IN DEBT AND EQUITY SECURITIES AVAILABLE-FOR-SALE SECURITIES The Duke Energy Registrants classify their investments in debt and equity securities as available-for-sale. Duke Energy’s available-for-sale securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) grantor trusts at Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans, (iii) Duke Energy’s captive insurance investment portfolio, and (iv) Duke Energy’s foreign operations investment portfolio. Duke Energy classifies all other investments in debt and equity securities as long-term, unless otherwise noted. Investment Trusts The investments within the NDTF investments and the Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana grantor trusts (Investment Trusts) are managed by independent investment managers with discretion to buy, sell, and invest pursuant to the objectives set forth by the trust agreements. The Duke Energy Registrants have limited oversight of the day-to-day management of these investments. As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt and equity securities within the Investment Trusts are considered other-than-temporary impairments and are recognized immediately. Investments within the Investment Trusts generally qualify for regulatory accounting, and accordingly realized and unrealized gains and losses are deferred as a regulatory asset or liability. Certain investments held in Duke Energy Florida's NDTF were acquired in a settlement with FMJO and do not qualify for regulatory accounting. Unrealized gains and losses on these assets are included in other comprehensive income until realized, unless it is determined the carrying value of an investment is other-than-temporarily impaired, and realized gains and losses are included within Other income and expense, net on the Consolidated Statements of Operations. The value of these assets have not materially changed since the assets were acquired from FMJO. As a result, there is no material impact on earnings of the Duke Energy Registrants. Other Available-for-Sale Securities Unrealized gains and losses on all other available-for-sale securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment is other-than-temporarily impaired. If an other-than-temporary impairment exists, the unrealized loss is included in earnings based on the criteria discussed below. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value should be considered other-than-temporary. Criteria used to evaluate whether an impairment associated with equity securities is other-than-temporary includes, but is not limited to, (i) the length of time over which the market value has been lower than the cost basis of the investment, (ii) the percentage decline compared to the cost of the investment, and (iii) management’s intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value. If a decline in fair value is determined to be other-than-temporary, the investment is written down to its fair value through a charge to earnings. If the entity does not have an intent to sell a debt security and it is not more likely than not management will be required to sell the debt security before the recovery of its cost basis, the impairment write-down to fair value would be recorded as a component of other comprehensive income, except for when it is determined a credit loss exists. In determining whether a credit loss exists, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than the amortized cost basis, (ii) changes in the financial condition of the issuer of the security, or in the case of an asset backed security, the financial condition of the underlying loan obligors, (iii) consideration of underlying collateral and guarantees of amounts by government entities, (iv) ability of the issuer of the security to make scheduled interest or principal payments, and (v) any changes to the rating of the security by rating agencies. If a credit loss exists, the amount of impairment write-down to fair value is split between credit loss and other factors. The amount related to credit loss is recognized in earnings. The amount related to other factors is recognized in other comprehensive income. There were no credit losses as of December 31, 2015 and 2014 . DUKE ENERGY The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 179 $ — $ — $ 136 Equity securities 1,823 58 3,590 1,926 29 3,650 Corporate debt securities 7 8 432 14 2 454 Municipal bonds 5 1 185 5 — 184 U.S. government bonds 11 5 1,254 19 2 978 Other debt securities — 4 177 1 2 147 Total NDTF (c) $ 1,846 $ 76 $ 5,817 $ 1,965 $ 35 $ 5,549 Other Investments Cash and cash equivalents $ — $ — $ 29 $ — $ — $ 15 Equity securities 32 1 95 34 — 96 Corporate debt securities 1 3 92 1 1 58 Municipal bonds 3 1 74 3 1 76 U.S. government bonds — — 45 — — 27 Other debt securities — 2 62 1 1 80 Total Other Investments (a) $ 36 $ 7 $ 397 $ 39 $ 3 $ 352 Total Investments $ 1,882 $ 83 $ 6,214 $ 2,004 $ 38 $ 5,901 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts are considered other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) The increase in estimated fair value of the NDTF as of December 31, 2015 , is primarily due to NDTF assets acquired with the purchase of NCEMPA's ownership interest in certain generating assets and the NDTF assets acquired in a settlement with FMJO. This is partially offset due to reimbursements from the NDTF for Duke Energy Florida's costs related to ongoing decommissioning activity of the Crystal River Unit 3 Nuclear Plant. Refer to Note 2 for further information. The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less 120 Due after one through five years 775 Due after five through 10 years 598 Due after 10 years 828 Total 2,321 Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 193 $ 271 $ 209 Realized losses 98 105 65 DUKE ENERGY CAROLINAS The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 34 $ — $ — $ 51 Equity securities 1,021 27 2,094 1,102 17 2,162 Corporate debt securities 3 5 292 8 2 316 Municipal bonds 1 — 33 1 — 62 U.S. government bonds 3 3 438 7 1 308 Other debt securities — 4 147 1 2 133 Total NDTF $ 1,028 $ 39 $ 3,038 $ 1,119 $ 22 $ 3,032 Other Investments Other debt securities $ — $ 1 $ 3 $ — $ 1 $ 3 Total Other Investments (a) $ — $ 1 $ 3 $ — $ 1 $ 3 Total Investments $ 1,028 $ 40 $ 3,041 $ 1,119 $ 23 $ 3,035 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 13 Due after one through five years 187 Due after five through 10 years 275 Due after 10 years 438 Total $ 913 Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 158 $ 109 $ 115 Realized losses 83 93 12 PROGRESS ENERGY The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 145 $ — $ — $ 85 Equity securities 802 31 1,496 824 12 1,488 Corporate debt securities 4 3 140 6 — 138 Municipal bonds 4 1 152 4 — 122 U.S. government bonds 8 2 816 12 1 670 Other debt securities — — 30 — — 14 Total NDTF (c) $ 818 $ 37 $ 2,779 $ 846 $ 13 $ 2,517 Other Investments Cash and cash equivalents $ — $ — $ 18 $ — $ — $ 15 Municipal bonds 3 — 45 3 — 43 Total Other Investments (a) $ 3 $ — $ 63 $ 3 $ — $ 58 Total Investments $ 821 $ 37 $ 2,842 $ 849 $ 13 $ 2,575 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts are considered other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) The increase in estimated fair value of the NDTF as of December 31, 2015 , is primarily due to NDTF assets acquired with the purchase of NCEMPA's ownership interest in certain generating assets and the NDTF assets acquired in a settlement with FMJO. This is partially offset due to reimbursements from the NDTF for Duke Energy Florida's costs related to ongoing decommissioning activity of the Crystal River Unit 3 Nuclear Plant. Refer to Note 2 for further information. The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 94 Due after one through five years 496 Due after five through 10 years 254 Due after 10 years 339 Total $ 1,183 Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 33 $ 157 $ 90 Realized losses 13 11 46 DUKE ENERGY PROGRESS The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 110 $ — $ — $ 50 Equity securities 596 25 1,178 612 10 1,171 Corporate debt securities 3 2 96 5 — 97 Municipal bonds 4 1 150 4 — 120 U.S. government bonds 6 2 486 9 1 265 Other debt securities — — 18 — — 8 Total NDTF (c) $ 609 $ 30 $ 2,038 $ 630 $ 11 $ 1,711 Other Investments Cash and cash equivalents $ — $ — $ 1 $ — $ — $ — Total Other Investments (a) $ — $ — $ 1 $ — $ — $ — Total Investments $ 609 $ 30 $ 2,039 $ 630 $ 11 $ 1,711 (a) These amounts are recorded in Other with Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) As of December 31, 2015 , the estimated fair value of the NDTF includes NDTF assets acquired with the purchase of NCEMPA's ownership interest in certain generating assets. Refer to Note 2 for further information. The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 15 Due after one through five years 285 Due after five through 10 years 206 Due after 10 years 244 Total $ 750 Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 26 $ 19 $ 58 Realized losses 11 5 26 DUKE ENERGY FLORIDA The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 35 $ — $ — $ 35 Equity securities 206 6 318 212 2 317 Corporate debt securities 1 1 44 1 — 41 Municipal bonds — — 2 — — 2 U.S. government bonds 2 — 330 3 — 405 Other debt securities — — 12 — — 6 Total NDTF (c) $ 209 $ 7 $ 741 $ 216 $ 2 $ 806 Other Investments Cash and cash equivalents $ — $ — $ 6 $ — $ — $ 1 Municipal bonds 3 — 45 3 — 43 Total Other Investments (a) $ 3 $ — $ 51 $ 3 $ — $ 44 Total Investments $ 212 $ 7 $ 792 $ 219 $ 2 $ 850 (a) These amounts are recorded in Other with Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) The decrease in estimated fair value of the NDTF as of December 31, 2015 , is primarily due to reimbursements from the NDTF for costs related to ongoing decommissioning activity of the Crystal River Unit 3 Nuclear Plant, partially offset by the NDTF asset acquired in a settlement with FMJO. Refer to Note 2 for further information. The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 79 Due after one through five years 211 Due after five through 10 years 48 Due after 10 years 95 Total $ 433 Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 7 $ 138 $ 32 Realized losses 2 5 20 DUKE ENERGY INDIANA The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ — Equity securities 27 — 71 28 — 71 Corporate debt securities — — 2 — — — Municipal bonds — 1 26 — 1 30 Total Other Investments (a) $ 27 $ 1 $ 101 $ 28 $ 1 $ 101 Total Investments $ 27 $ 1 $ 101 $ 28 $ 1 $ 101 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 2 Due after one through five years 14 Due after five through 10 years 9 Due after 10 years 3 Total $ 28 Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were insignificant for the years ended December 31, 2015 , 2014 and 2013 . |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair value is the exchange price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value definition focuses on an exit price versus the acquisition cost. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data, or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize use of unobservable inputs. A midmarket pricing convention (the midpoint price between bid and ask prices) is permitted for use as a practical expedient. Fair value measurements are classified in three levels based on the fair value hierarchy: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. An active market is one in which transactions for an asset or liability occur with sufficient frequency and volume to provide ongoing pricing information. Level 2 – A fair value measurement utilizing inputs other than quoted prices included in Level 1 that are observable, either directly or indirectly, for an asset or liability. Inputs include (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in markets that are not active, (iii) and inputs other than quoted market prices that are observable for the asset or liability, such as interest rate curves and yield curves observable at commonly quoted intervals, volatilities and credit spreads. A Level 2 measurement cannot have more than an insignificant portion of its valuation based on unobservable inputs. Instruments in this category include non-exchange-traded derivatives, such as over-the-counter forwards, swaps and options; certain marketable debt securities; and financial instruments traded in less than active markets. Level 3 – Any fair value measurement which includes unobservable inputs for more than an insignificant portion of the valuation. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Level 3 measurements may include longer-term instruments that extend into periods in which observable inputs are not available. Not Categorized – As discussed in Note 1, certain investments are not categorized within the Fair Value hierarchy. These investments are measured based on the fair value of the underlying investments but may not be readily redeemable at that fair value. Fair value accounting guidance permits entities to elect to measure certain financial instruments that are not required to be accounted for at fair value, such as equity method investments or the company’s own debt, at fair value. The Duke Energy Registrants have not elected to record any of these items at fair value. Transfers between levels represent assets or liabilities that were previously (i) categorized at a higher level for which the inputs to the estimate became less observable or (ii) classified at a lower level for which the inputs became more observable during the period. The Duke Energy Registrant’s policy is to recognize transfers between levels of the fair value hierarchy at the end of the period. There were no transfers between Levels 1 and 2 during the years ended December 31, 2015 , 2014 and 2013 . Transfers out of Level 3 during the year ended December 31, 2014, were the result of forward commodity prices becoming observable due to the passage of time. Valuation methods of the primary fair value measurements disclosed below are as follows. Investments in equity securities The majority of investments in equity securities are valued using Level 1 measurements. Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as NASDAQ and New York Stock Exchange (NYSE). Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. There was no after-hours market activity that was required to be reflected in the reported fair value measurements. Investments in debt securities Most investments in debt securities are valued using Level 2 measurements because the valuations use interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. If the market for a particular fixed income security is relatively inactive or illiquid, the measurement is Level 3. Commodity derivatives Commodity derivatives with clearinghouses are classified as Level 1. Other commodity derivatives are primarily valued using internally developed discounted cash flow models which incorporate forward price, adjustments for liquidity (bid-ask spread) and credit or non-performance risk (after reflecting credit enhancements such as collateral), and are discounted to present value. Pricing inputs are derived from published exchange transaction prices and other observable data sources. In the absence of an active market, the last available price may be used. If forward price curves are not observable for the full term of the contract and the unobservable period had more than an insignificant impact on the valuation, the commodity derivative is classified as Level 3. In isolation, increases (decreases) in natural gas forward prices result in favorable (unfavorable) fair value adjustments for gas purchase contracts; and increases (decreases) in electricity forward prices result in unfavorable (favorable) fair value adjustments for electricity sales contracts. Duke Energy regularly evaluates and validates pricing inputs used to estimate the fair value of gas commodity contracts by a market participant price verification procedure. This procedure provides a comparison of internal forward commodity curves to market participant generated curves. Interest rate derivatives Most over-the-counter interest rate contract derivatives are valued using financial models which utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward interest rate curves, notional amounts, interest rates and credit quality of the counterparties. Goodwill and Long-Lived Assets and Assets Held for Sale See Note 11 for a discussion of the valuation of goodwill and long-lived assets. See Note 2 related to the assets and related liabilities of the Disposal Group classified as held for sale, and the purchase of NCEMPA's ownership interests in certain generating assets. DUKE ENERGY The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 3,590 $ 3,418 $ — $ — $ 172 Nuclear decommissioning trust fund debt securities 2,227 672 1,555 — Other available-for-sale equity securities 95 95 — — — Other available-for-sale debt securities 302 75 222 5 Derivative assets 26 — 16 10 Total assets 6,240 4,260 1,793 15 172 Derivative liabilities (419 ) — (419 ) — Net assets $ 5,821 $ 4,260 $ 1,374 $ 15 $ 172 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 3,650 $ 3,493 $ 6 $ — $ 151 Nuclear decommissioning trust fund debt securities 1,899 648 1,251 — Other trading and available-for-sale equity securities 96 96 — — — Other trading and available-for-sale debt securities 263 41 217 5 Derivative assets 110 49 24 37 Total assets 6,018 4,327 1,498 42 151 Derivative liabilities (668 ) (162 ) (468 ) (38 ) Net assets $ 5,350 $ 4,165 $ 1,030 $ 4 $ 151 The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Amounts included in earnings for derivatives are primarily included in Operating Revenues. December 31, 2015 Derivatives (in millions) Investments (net) Total Balance at beginning of period $ 5 $ (1 ) $ 4 Total pretax realized or unrealized gains (losses) included in earnings — 21 21 Purchases, sales, issuances and settlements: Purchases — 24 24 Sales — (1 ) (1 ) Settlements — (37 ) (37 ) Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities — 4 4 Balance at end of period $ 5 $ 10 $ 15 December 31, 2014 Derivatives (in millions) Investments (net) Total Balance at beginning of period $ 20 $ 13 $ 33 Total pretax realized or unrealized gains (losses) included in earnings — (7 ) (7 ) Purchases, sales, issuances and settlements: Purchases — 50 50 Sales (15 ) — (15 ) Settlements — (54 ) (54 ) Net transfers In (Out) of Level 3 due to observability of inputs — 6 6 Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities — (9 ) (9 ) Balance at end of period $ 5 $ (1 ) $ 4 Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding $ — $ (14 ) $ (14 ) DUKE ENERGY CAROLINAS The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 2,094 $ 1,922 $ — $ — $ 172 Nuclear decommissioning trust fund debt securities 944 246 698 — Other available-for-sale debt securities 3 — — 3 Total assets 3,041 2,168 698 3 172 Derivative liabilities (45 ) — (45 ) — Net assets $ 2,996 $ 2,168 $ 653 $ 3 $ 172 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 2,162 $ 2,005 $ 6 $ — $ 151 Nuclear decommissioning trust fund debt securities 870 138 732 — Other trading and available-for-sale debt securities 3 — — 3 Total assets 3,035 2,143 738 3 151 Derivative liabilities (19 ) — (19 ) — Net assets $ 3,016 $ 2,143 $ 719 $ 3 $ 151 The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. There was no change to the Level 3 balance during the year ended December 31, 2015. December 31, 2014 Derivatives (in millions) Investments (net) Total Balance at beginning of period $ 3 $ (2 ) $ 1 Settlements — 2 2 Balance at end of period $ 3 $ — $ 3 PROGRESS ENERGY The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,496 $ 1,496 $ — $ — Nuclear decommissioning trust fund debt securities 1,283 426 857 — Other available-for-sale debt securities 63 18 45 — Derivative assets 11 — 11 — Total assets 2,853 1,940 913 — Derivative liabilities (322 ) — (322 ) — Net assets $ 2,531 $ 1,940 $ 591 $ — December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,488 $ 1,488 $ — $ — Nuclear decommissioning trust fund debt securities 1,029 510 519 — Other trading and available-for-sale debt securities 58 15 43 — Derivative assets 4 — 4 — Total assets 2,579 2,013 566 — Derivative liabilities (373 ) — (373 ) — Net assets $ 2,206 $ 2,013 $ 193 $ — DUKE ENERGY PROGRESS The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,178 $ 1,178 $ — $ — Nuclear decommissioning trust fund debt securities and other 860 141 719 — Other available-for-sale debt securities and other 1 1 — — Derivative assets 2 — 2 — Total assets 2,041 1,320 721 — Derivative liabilities (98 ) — (98 ) — Net assets $ 1,943 $ 1,320 $ 623 $ — December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,171 $ 1,171 $ — $ — Nuclear decommissioning trust fund debt securities and other 540 151 389 — Total assets 1,711 1,322 389 — Derivative liabilities (132 ) — (132 ) — Net assets $ 1,579 $ 1,322 $ 257 $ — DUKE ENERGY FLORIDA The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 318 $ 318 $ — $ — Nuclear decommissioning trust fund debt securities and other 423 285 138 — Other available-for-sale debt securities and other 51 6 45 — Derivative assets 7 — 7 — Total assets 799 609 190 — Derivative liabilities (216 ) — (216 ) — Net assets (liabilities) $ 583 $ 609 $ (26 ) $ — December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 317 $ 317 $ — $ — Nuclear decommissioning trust fund debt securities and other 489 359 130 — Other trading and available-for-sale debt securities and other 44 — 44 — Derivative assets 4 — 4 — Total assets 854 676 178 — Derivative liabilities (241 ) — (241 ) — Net assets (liabilities) $ 613 $ 676 $ (63 ) $ — DUKE ENERGY OHIO The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which are disclosed in Note 14 . December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Derivative assets $ 3 $ — $ — $ 3 Derivative liabilities (7 ) — (7 ) — Net assets (liabilities) $ (4 ) $ — $ (7 ) $ 3 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Derivative assets $ 49 $ 20 $ 9 $ 20 Derivative liabilities (181 ) (117 ) (26 ) (38 ) Net assets (liabilities) $ (132 ) $ (97 ) $ (17 ) $ (18 ) The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Derivatives (net) Years Ended December 31, (in millions) 2015 2014 Balance at beginning of period $ (18 ) $ (4 ) Total pretax realized or unrealized gains (losses) included in earnings 21 (9 ) Purchases, sales, issuances and settlements: Purchases 5 1 Settlements (5 ) (13 ) Net transfers In (Out) of Level 3 due to observability of inputs — 6 Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities — 1 Balance at end of period $ 3 $ (18 ) DUKE ENERGY INDIANA The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Other available-for-sale equity securities $ 71 $ 71 $ — $ — Other available-for-sale debt securities and other 30 2 28 — Derivative assets 7 — — 7 Net assets (liabilities) $ 108 $ 73 $ 28 $ 7 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Other trading and available-for-sale equity securities $ 71 $ 71 $ — $ — Other trading and available-for-sale debt securities and other 30 — 30 — Derivative assets 14 — — 14 Net assets (liabilities) $ 115 $ 71 $ 30 $ 14 The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Derivatives (net) Years Ended December 31, (in millions) 2015 2014 Balance at beginning of period $ 14 $ 12 Total pretax realized or unrealized gains included in earnings — 3 Purchases, sales, issuances and settlements: Purchases 19 49 Settlements (30 ) (41 ) Total gains (losses) included on the Consolidated Balance Sheet as regulatory assets or liabilities 4 (9 ) Balance at end of period $ 7 $ 14 QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS The following table includes quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. December 31, 2015 Fair Value Investment Type (in millions) Valuation Technique Unobservable Input Range Duke Energy Financial transmission rights (FTRs) $ 10 RTO auction pricing FTR price – per Megawatt-Hour (MWh) $ (0.74 ) - 7.29 Duke Energy Ohio FTRs $ 3 RTO auction pricing FTR price – per MWh $ 0.67 - 2.53 Duke Energy Indiana FTRs $ 7 RTO auction pricing FTR price – per MWh $ (0.74 ) - 7.29 December 31, 2014 Fair Value Investment Type (in millions) Valuation Technique Unobservable Input Range Duke Energy Natural gas contracts $ (5 ) Discounted cash flow Forward natural gas curves – price per Million British Thermal Unit (MMBtu) $ 2.12 - 4.35 FTRs 14 RTO auction pricing FTR price – per MWh (1.92 ) - 9.86 Electricity contracts (1 ) Discounted cash flow Forward electricity curves – price per MWh 25.16 - 51.75 Commodity capacity option contracts 2 Discounted cash flow Forward capacity option curves – price per MW day 21.00 - 109.00 Reserves (11 ) Bid-ask spreads, implied volatility, probability of default Total Level 3 derivatives $ (1 ) Duke Energy Ohio Electricity contracts $ (6 ) Discounted cash flow Forward electricity curves – price per MWh $ 25.25 - 51.75 Natural gas contracts (5 ) Discounted cash flow Forward natural gas curves – price per MMBtu 2.12 - 4.35 Reserves (7 ) Bid-ask spreads, implied volatility, probability of default Total Level 3 derivatives $ (18 ) Duke Energy Indiana FTRs $ 14 RTO auction pricing FTR price – per MWh $ (1.92 ) - 9.86 OTHER FAIR VALUE DISCLOSURES The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements. December 31, 2015 December 31, 2014 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy $ 39,569 $ 42,537 $ 39,868 $ 44,566 Duke Energy Carolinas 8,367 9,156 8,353 9,626 Progress Energy 14,464 15,856 14,668 16,951 Duke Energy Progress 6,518 6,757 6,170 6,696 Duke Energy Florida 4,266 4,908 4,823 5,767 Duke Energy Ohio 1,598 1,724 1,760 1,970 Duke Energy Indiana 3,768 4,219 3,769 4,456 At both December 31, 2015 and December 31, 2014 , fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper, and non-recourse notes payable of variable interest entities are not materially different from their carrying amounts because of the short-term nature of these instruments and/or because the stated rates approximate market rates. |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2015 | |
Variable Interest Entities [Abstract] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES A VIE is an entity that is evaluated for consolidation using more than a simple analysis of voting control. The analysis to determine whether an entity is a VIE considers contracts with an entity, credit support for an entity, the adequacy of the equity investment of an entity and the relationship of voting power to the amount of equity invested in an entity. This analysis is performed either upon the creation of a legal entity or upon the occurrence of an event requiring reevaluation, such as a significant change in an entity’s assets or activities. A qualitative analysis of control determines the party that consolidates a VIE. This assessment is based on (i) what party has the power to direct the most significant activities of the VIE that impact its economic performance and (ii) what party has rights to receive benefits or is obligated to absorb losses that are significant to the VIE. The analysis of the party that consolidates a VIE is a continual reassessment. No financial support was provided to any of the consolidated VIEs during the years ended December 31, 2015 , 2014 and 2013, or is expected to be provided in the future, that was not previously contractually required. CONSOLIDATED VIEs The following tables summarize the impact of VIEs consolidated by Duke Energy and the Subsidiary Registrants on the Consolidated Balance Sheets. December 31, 2015 Duke Energy Duke Duke Duke Energy Energy Energy Carolinas Progress Florida (in millions) DERF DEPR (c) DEFR (c) CRC Renewables Other Total ASSETS Current Assets Cash and Cash Equivalents $ — $ — $ — $ — $ — $ 2 $ 2 Restricted receivables of variable interest entities (net of allowance for doubtful accounts) 596 349 309 454 19 21 1,748 Other — — — — 138 4 142 Investments and Other Assets Other — — — — 70 — 70 Property, Plant and Equipment Property, plant and equipment, cost (a) — — — — 2,015 20 2,035 Accumulated depreciation and amortization — — — — (321 ) (6 ) (327 ) Total assets $ 596 $ 349 $ 309 $ 454 $ 1,921 $ 41 $ 3,670 LIABILITIES AND EQUITY Current Liabilities Accounts payable — — — — 35 — 35 Taxes accrued 5 3 — — 5 1 14 Current maturities of long-term debt — — — — 108 17 125 Other — — — — 15 2 17 Long-Term Debt (b) 425 254 225 325 968 — 2,197 Deferred Credits and Other Liabilities Deferred income taxes — — — — 289 — 289 Asset retirement obligations — — — — 35 — 35 Other — — — — 33 — 33 Total liabilities $ 430 $ 257 $ 225 $ 325 $ 1,488 $ 20 $ 2,745 Net assets of consolidated variable interest entities $ 166 $ 92 $ 84 $ 129 $ 433 $ 21 $ 925 December 31, 2014 Duke Energy Duke Duke Duke Energy Energy Energy Carolinas Progress Florida (in millions) DERF DEPR (c) DEFR (c) CRC Renewables Other Total ASSETS Current Assets Restricted receivables of variable interest entities (net of allowance for doubtful accounts) $ 647 $ 436 $ 305 $ 547 $ 20 $ 18 $ 1,973 Other — — — — 68 6 74 Investments and Other Assets Other — — — — 25 25 50 Property, Plant and Equipment Property, plant and equipment, cost (a) — — — — 1,855 18 1,873 Accumulated depreciation and amortization — — — — (250 ) (5 ) (255 ) Regulatory Assets and Deferred Debits Other — — — — 34 2 36 Total assets $ 647 $ 436 $ 305 $ 547 $ 1,752 $ 64 $ 3,751 LIABILITIES AND EQUITY Current Liabilities Accounts payable — — — 3 — 3 Taxes accrued — — — 6 — 6 Current maturities of long-term debt — — — 68 16 84 Other — — — 16 5 21 Long-Term Debt (b) 400 300 225 325 967 17 2,234 Deferred Credits and Other Liabilities Deferred income taxes — — — 283 — 283 Asset retirement obligations — — — 29 — 29 Other — — — 34 4 38 Total liabilities $ 400 $ 300 $ 225 $ 325 $ 1,406 $ 42 $ 2,698 Net assets of consolidated variable interest entities $ 247 $ 136 $ 80 $ 222 $ 346 $ 22 $ 1,053 (a) Restricted as collateral for non-recourse debt of VIEs. (b) Non-recourse to the general assets of the applicable registrant. (c) The amount for Progress Energy is equal to the total amount for Duke Energy Progress and Duke Energy Florida. The obligations of these VIEs are non-recourse to Duke Energy, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida. These entities have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs. DERF/DEPR/DEFR Duke Energy Receivables Finance Company, LLC (DERF), Duke Energy Progress Receivables, LLC (DEPR) and Duke Energy Florida Receivables, LLC (DEFR) are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively. On a daily basis, DERF, DEPR and DEFR buy certain accounts receivable arising from the sale of electricity and/or related services from their parent companies. DERF, DEPR and DEFR are wholly owned limited liability companies with separate legal existence from their parents and their assets are not generally available to creditors of their parent companies. DERF, DEPR and DEFR borrow amounts under credit facilities to buy the receivables. Borrowing availability is limited to the amount of qualified receivables sold, which is generally expected to be in excess of the credit facilities. The credit facilities are reflected on the Consolidated Balance Sheets as Long-Term Debt. The secured credit facilities were not structured to meet the criteria for sale accounting treatment under the accounting guidance for transfers and servicing of financial assets. The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida consolidate DERF, DEPR and DEFR, respectively, as they make those decisions. The following table outlines amounts and expiration dates of the credit facilities. DERF DEPR DEFR Credit facility amount (in millions) $ 425 $ 300 $ 225 Expiration date December 2018 February 2019 March 2017 CRC On a revolving basis, Duke Energy Ohio and Duke Energy Indiana sell to CRC certain accounts receivable arising from the sale of electricity and related services. The receivables sold are securitized by CRC through a $325 million credit facility managed by two unrelated third parties. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC. The sole source of funds to satisfy the related debt obligation is cash collections from the receivables. The credit facility expires in December 2018 and is reflected on Duke Energy's Consolidated Balance Sheets as Long-Term Debt. The proceeds Duke Energy Ohio and Duke Energy Indiana receive from the sale of receivables to CRC are typically 75 percent cash and 25 percent in the form of a subordinated note from CRC. The subordinated note is a retained interest in the receivables sold. Depending on collection experience, additional equity infusions to CRC may be required by Duke Energy to maintain a minimum equity balance of $3 million . There were no infusions to CRC during the years ended December 31, 2015 and 2014 . CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the most significant activities that impact economic performance of the entity are not performed by the equity holder, Cinergy, and (iii) deficiencies in net worth of CRC are not funded by Cinergy, but by Duke Energy. The most significant activity of CRC relates to the decisions made with respect to the management of delinquent receivables. Duke Energy consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC. Renewables Certain of Duke Energy’s renewable energy facilities are VIEs due to long-term fixed price power purchase agreements. These fixed price agreements effectively transfer commodity price risk to the buyer of the power. Certain other of Duke Energy’s renewable energy facilities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. For certain VIEs, assets are restricted and cannot be pledged as collateral or sold to third parties without prior approval of debt holders. The most significant activities that impact the economic performance of these renewable energy facilities were decisions associated with siting, negotiating purchase power agreements, engineering, procurement and construction and decisions associated with ongoing operations and maintenance-related activities. Duke Energy consolidates the entities as it makes all of these decisions. NON-CONSOLIDATED VIEs The tables below show VIEs not consolidated and how these entities impact the Consolidated Balance Sheets. December 31, 2015 Duke Energy Duke Duke Energy Energy (in millions) Renewables Other Total Ohio Indiana Receivables $ — $ — $ — $ 47 $ 60 Investments in equity method unconsolidated affiliates 235 152 387 — — Total assets $ 235 $ 152 $ 387 $ 47 $ 60 Other current liabilities — 3 3 — — Deferred credits and other liabilities — 14 14 — — Total liabilities $ — $ 17 $ 17 $ — $ — Net assets (liabilities) $ 235 $ 135 $ 370 $ 47 $ 60 December 31, 2014 Duke Energy Duke Duke Energy Energy (in millions) Renewables Other Total Ohio Indiana Receivables $ — $ — $ — $ 91 $ 113 Investments in equity method unconsolidated affiliates 150 38 188 — — Intangibles — — — — — Investments and other assets — 4 4 — — Total assets $ 150 $ 42 $ 192 $ 91 $ 113 Other current liabilities — 3 3 — — Deferred credits and other liabilities — 14 14 — — Total liabilities $ — $ 17 $ 17 $ — $ — Net assets $ 150 $ 25 $ 175 $ 91 $ 113 The Duke Energy Registrants are not aware of any situations where the maximum exposure to loss significantly exceeds the carrying values shown above except for the power purchase agreement with OVEC, which is discussed below, and various guarantees, some of which are reflected in the table above as Deferred credits and other liabilities. For more information on various guarantees, refer to Note 7 , "Guarantees and Indemnifications." Renewables Duke Energy has investments in various renewable energy project entities. Some of these entities are VIEs due to long-term fixed price power purchase agreements. These fixed price agreements effectively transfer commodity price risk to the buyer of the power. Duke Energy does not consolidate these VIEs because power to direct and control key activities is shared jointly by Duke Energy and other owners. Other Duke Energy holds a 50 percent equity interest in Duke-American Transmission Company, LLC (DATC). DATC is considered a VIE due to insufficient equity at risk to permit DATC to finance its own activities without additional subordinated financial support. The activities that most significantly impact DATC’s economic performance are the decisions related to investing in existing and development of new transmission facilities. The power to direct these activities is jointly and equally shared by Duke Energy and the other joint venture partner and, therefore, Duke Energy does not consolidate. Duke Energy has a 40 percent equity interest and a 7.5 percent equity interest in ACP and Sabal Trail, respectively. These entities are considered VIEs as their equity is not sufficient to permit the entities to finance their activities without additional subordinated financial support. The activity that most significantly impacts the economic performance of both ACP and Sabal Trail is construction. Duke Energy does not control these activities and therefore does not consolidate ACP or Sabal Trail. OVEC Duke Energy Ohio’s 9 percent ownership interest in OVEC is considered a non-consolidated VIE. Through its ownership interest in OVEC, Duke Energy Ohio has a contractual arrangement to buy power from OVEC’s power plants through June 2040. Proceeds from the sale of power by OVEC to its power purchase agreement counterparties are designed to be sufficient to meet its operating expenses, fixed costs, debt amortization and interest expense, as well as earn a return on equity. Accordingly, the value of this contract is subject to variability due to fluctuations in power prices and changes in OVEC’s costs of business, including costs associated with its 2,256 MW of coal-fired generation capacity. Proposed environmental rulemaking could increase the costs of OVEC, which would be passed through to Duke Energy Ohio. In 2014, Duke Energy Ohio recorded a $94 million impairment related to OVEC. CRC See discussion under Consolidated VIEs for additional information related to CRC. Amounts included in Receivables in the above table for Duke Energy Ohio and Duke Energy Indiana reflect their retained interest in receivables sold to CRC. These subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value. Carrying values of retained interests are determined by allocating carrying value of the receivables between assets sold and interests retained based on relative fair value. The allocated bases of the subordinated notes are not materially different than their face value because (i) the receivables generally turnover in less than two months, (ii) credit losses are reasonably predictable due to the broad customer base and lack of significant concentration and (iii) the equity in CRC is subordinate to all retained interests and thus would absorb losses first. The hypothetical effect on fair value of the retained interests assuming both a 10 percent and a 20 percent unfavorable variation in credit losses or discount rates is not material due to the short turnover of receivables and historically low credit loss history. Interest accrues to Duke Energy Ohio and Duke Energy Indiana on the retained interests using the acceptable yield method. This method generally approximates the stated rate on the notes since the allocated basis and the face value are nearly equivalent. An impairment charge is recorded against the carrying value of both retained interests and purchased beneficial interest whenever it is determined that an other-than-temporary impairment has occurred. Key assumptions used in estimating fair value are detailed in the following table. Duke Energy Ohio Duke Energy Indiana 2015 2014 2015 2014 Anticipated credit loss ratio 0.6 % 0.6 % 0.3 % 0.3 % Discount rate 1.2 % 1.2 % 1.2 % 1.2 % Receivable turnover rate 12.9 % 12.8 % 10.6 % 10.5 % The following table shows the gross and net receivables sold. Duke Energy Ohio Duke Energy Indiana (in millions) 2015 2014 2015 2014 Receivables sold $ 233 $ 273 $ 260 $ 310 Less: Retained interests 47 91 60 113 Net receivables sold $ 186 $ 182 $ 200 $ 197 The following table shows sales and cash flows related to receivables sold. Duke Energy Ohio Duke Energy Indiana Years Ended December 31, Years Ended December 31, (in millions) 2015 2014 2013 2015 2014 2013 Sales Receivables sold $ 1,963 $ 2,246 $ 2,251 $ 2,627 $ 2,913 $ 2,985 Loss recognized on sale 9 11 12 11 11 11 Cash Flows Cash proceeds from receivables sold 1,995 2,261 2,220 2,670 2,932 2,944 Collection fees received 1 1 1 1 1 1 Return received on retained interests 3 4 5 5 6 6 Cash flows from the sales of receivables are reflected within Cash Flows From Operating Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Cash Flows. Collection fees received in connection with servicing transferred accounts receivable are included in Operation, maintenance and other on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Operations and Comprehensive Income. The loss recognized on sales of receivables is calculated monthly by multiplying receivables sold during the month by the required discount. The required discount is derived monthly utilizing a three-year weighted average formula that considers charge-off history, late charge history and turnover history on the sold receivables, as well as a component for the time value of money. The discount rate, or component for the time value of money, is the prior month-end LIBOR plus a fixed rate of 1.00 percent . |
Common Stock
Common Stock | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Common Stock | COMMON STOCK Basic Earnings Per Share (EPS) is computed by dividing net income attributable to Duke Energy common stockholders, adjusted for distributed and undistributed earnings allocated to participating securities, by the weighted average number of common stock outstanding during the period. Diluted EPS is computed by dividing net income attributable to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the diluted weighted average number of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as stock options, were exercised or settled. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common shares during the restricted stock unit’s vesting periods. The following table presents Duke Energy’s basic and diluted EPS calculations and reconciles the weighted average number of common stock outstanding to the diluted weighted average number of common stock outstanding. Years Ended December 31, (in millions, except per share amounts) 2015 2014 2013 Income from continuing operations attributable to Duke Energy common stockholders excluding impact of participating securities $ 2,791 $ 2,446 $ 2,565 Weighted average shares outstanding – basic 694 707 706 Weighted average shares outstanding – diluted 694 707 706 Earnings per share from continuing operations attributable to Duke Energy common stockholders Basic $ 4.02 3.46 3.64 Diluted $ 4.02 3.46 3.63 Potentially dilutive items excluded from the calculation (a) 2 2 2 Dividends declared per common share $ 3.24 3.15 3.09 (a) Performance stock awards and certain stock options were not included in the dilutive securities calculation because either the performance measures related to the awards had not been met or the option exercise prices were greater than the average market price of the common shares during the presented periods. On April 6, 2015, Duke Energy entered into agreements with each of Goldman, Sachs & Co. and JPMorgan Chase Bank, National Association (the Dealers) to repurchase a total of $1.5 billion of Duke Energy common stock under an accelerated stock repurchase program (the ASR). Duke Energy made payments of $750 million to each of the Dealers and was delivered 16.6 million shares, with a total fair value of $1.275 billion , which represented approximately 85 percent of the total number of shares of Duke Energy common stock expected to be repurchased under the ASR. The $225 million unsettled portion met the criteria to be accounted for as a forward contract indexed to Duke Energy's stock and qualified as an equity instrument. The company recorded the $1.5 billion payment as a reduction to common stock as of April 6, 2015. In June 2015, the Dealers delivered 3.2 million additional shares to Duke Energy to complete the ASR. Approximately 19.8 million shares, in total, were delivered to Duke Energy and retired under the ASR at an average price of $75.75 per share. The final number of shares repurchased was based upon the average of the daily volume weighted average stock prices of Duke Energy’s common stock during the term of the program, less a discount. |
Severance
Severance | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring and Related Activities [Abstract] | |
Severance | SEVERANCE During 2015, Duke Energy developed targeted cost-savings initiatives aimed at reducing operating and maintenance expense. The initiatives include efforts to reduce costs through standardization of processes and systems, leveraging technology and workforce optimization throughout the company in order to achieve sustainable cost reductions. In conjunction with these initiatives, voluntary and involuntary severance benefits were extended to a total of approximately 900 employees. The following table presents the direct and allocated severance and related expenses recorded by the Duke Energy Registrants associated with these initiatives. Amounts are included within Operation, maintenance and other on the Consolidated Statements of Operations. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Year Ended December 31, 2015 $ 142 $ 93 $ 36 $ 28 $ 8 $ 2 $ 6 In conjunction with the 2012 merger with Progress Energy, Duke Energy and Progress Energy offered a voluntary severance plan to certain eligible employees. As of December 31, 2015, all plan participants have separated from the company. The following table presents direct and allocated severance and related expenses recorded by the Duke Energy Registrants associated with this plan. Amounts are included within Operation, maintenance and other on the Consolidated Statements of Operations. Amounts for 2014 and 2015 were not material. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy (a) Carolinas Energy Progress Florida Ohio Indiana Year Ended December 31, 2013 $ 34 $ 8 $ 19 $ 14 $ 5 $ 2 $ 2 (a) Includes $5 million of accelerated stock award expense and $2 million of COBRA and health care reimbursement expense. During 2013, in conjunction with the retirement of Crystal River Unit 3, severance benefits were made available to certain impacted unionized and non-unionized employees, to the extent that those employees did not find job opportunities at other locations. For the year ended December 31, 2013, Duke Energy Florida deferred $26 million of severance costs as a regulatory asset. Severance costs accrued in 2014 and 2015 related to this plan were not material. As of December 31, 2015, all plan participants have separated from the company. Refer to Note 4 for further discussion regarding Crystal River Unit 3. The table below presents the severance liability for past and ongoing severance plans including the plans described above. Amounts for Duke Energy Indiana and Duke Energy Ohio are not material. Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Balance at December 31, 2014 $ 28 $ 2 $ 18 $ 1 $ 17 Provision/Adjustments 144 80 20 20 — Cash Reductions (36 ) (4 ) (15 ) (2 ) (13 ) Balance at December 31, 2015 $ 136 $ 78 $ 23 $ 19 $ 4 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION The Duke Energy Corporation 2015 Long-Term Incentive Plan (the 2015 Plan) provides for the grant of stock-based compensation awards to employees and outside directors. The 2015 Plan reserves 10 million shares of common stock for issuance. Duke Energy has historically issued new shares upon exercising or vesting of share-based awards. However, Duke Energy may use a combination of new share issuances and open market repurchases for share-based awards that are exercised or vest in the future. Duke Energy has not determined with certainty the amount of such new share issuances or open market repurchases. The 2015 Plan supersedes the 2010 Long-Term Incentive Plan, as amended (the 2010 Plan), and the Progress Energy, Inc. 2007 Equity Incentive Plan (the Progress Plan). No additional grants will be made from the 2010 Plan and Progress Plan. The following table summarizes the total expense recognized by the Duke Energy Registrants, net of tax, for stock-based compensation. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy $ 38 $ 38 $ 52 Duke Energy Carolinas 14 12 13 Progress Energy 14 14 23 Duke Energy Progress 9 9 14 Duke Energy Florida 5 5 9 Duke Energy Ohio 2 5 4 Duke Energy Indiana 4 3 4 Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense, and stock-based compensation costs capitalized are included in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Restricted stock unit awards $ 38 $ 39 $ 49 Performance awards 23 22 34 Stock options — — 2 Pretax stock-based compensation cost $ 61 $ 61 $ 85 Tax benefit associated with stock-based compensation expense $ 23 $ 23 $ 33 Stock-based compensation costs capitalized 3 4 3 STOCK OPTIONS Stock options are granted with a maximum option term of 10 years and with an exercise price not less than the market price of Duke Energy's common stock on the grant date. Stock options outstanding at December 31, 2015, were not exercisable and the aggregate intrinsic value was not material. The following table summarizes information about stock options outstanding. Weighted Average Stock Options Exercise Price Weighted Average (in thousands) (per share) Remaining Life Outstanding at December 31, 2014 373 $ 64 Exercised (270 ) 62 Outstanding at December 31, 2015 (a) 103 69 7 years, 2 months (a) Outstanding stock options all vested on January 1, 2016. The following table summarizes additional information related to stock options exercised and granted. Years Ended December 31, 2015 2014 2013 Intrinsic value of options exercised (in millions) $ 5 $ 6 $ 26 Tax benefit related to options exercised (in millions) 2 2 10 Cash received from options exercised (in millions) 17 25 9 Stock options granted (in thousands) (a) — — 310 (a) Stock options granted in 2013 were expensed immediately. RESTRICTED STOCK UNIT AWARDS Restricted stock unit awards generally vest over periods from immediate to three years . Fair value amounts are based on the market price of Duke Energy's common stock on the grant date. The following table includes information related to restricted stock unit awards. Years Ended December 31, 2015 2014 2013 Shares awarded (in thousands) 524 557 612 Fair value (in millions) $ 41 $ 40 $ 42 The following table summarizes information about restricted stock unit awards outstanding. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2014 1,080 $ 69 Granted 524 79 Vested (602 ) 68 Forfeited (49 ) 73 Outstanding at December 31, 2015 953 75 Restricted stock unit awards expected to vest 924 75 The total grant date fair value of shares vested during the years ended December 31, 2015 , 2014 and 2013 was $41 million , $52 million and $50 million , respectively. At December 31, 2015 , Duke Energy had $19 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of one year, eleven months . PERFORMANCE AWARDS Stock-based performance awards generally vest over three years if performance targets are met. Performance awards granted in 2015, 2014 and 2013 contain market conditions based on the total shareholder return (TSR) of Duke Energy stock relative to a predefined peer group (relative TSR). These awards are valued using a path-dependent model that incorporates expected relative TSR into the fair value determination of Duke Energy’s performance-based share awards. The model uses three-year historical volatilities and correlations for all companies in the predefined peer group, including Duke Energy, to simulate Duke Energy’s relative TSR as of the end of the performance period. For each simulation, Duke Energy’s relative TSR associated with the simulated stock price at the end of the performance period plus expected dividends within the period results in a value per share for the award portfolio. The average of these simulations is the expected portfolio value per share. Actual life to date results of Duke Energy’s relative TSR for each grant are incorporated within the model. For performance awards granted in 2015, the model used a risk-fee interest rate of 1.0 percent , which reflects the yield on three-year Treasury bonds as of the grant date, and an expected volatility of 13.6 percent based on Duke Energy's historical volatility over three years using daily stock prices. The following table includes information related to stock-based performance awards. Years Ended December 31, 2015 2014 2013 Shares awarded (in thousands) 642 542 633 Fair value (in millions) $ 26 $ 19 $ 28 The following table summarizes information about stock-based performance awards outstanding and assumes payout at the maximum level. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2014 1,627 $ 42 Granted 642 41 Vested (271 ) 51 Forfeited (301 ) 38 Outstanding at December 31, 2015 1,697 40 Stock-based performance awards expected to vest 1,301 40 The total grant date fair value of shares vested during the years ended December 31, 2015 , 2014 and 2013 was $26 million , $27 million and $42 million , respectively. At December 31, 2015 , Duke Energy had $22 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of one year, two months . |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS DEFINED BENEFIT RETIREMENT PLANS Duke Energy maintains, and the Subsidiary Registrants participate in, qualified, non-contributory defined benefit retirement plans. The plans cover most U.S. employees using a cash balance formula. Under a cash balance formula, a plan participant accumulates a retirement benefit consisting of pay credits based upon a percentage of current eligible earnings based on age, or age and years of service, and interest credits. Certain employees are covered under plans that use a final average earnings formula. Under these average earnings formulas, a plan participant accumulates a retirement benefit equal to the sum of percentages of their (i) highest three-year or four-year average earnings, (ii) highest three-year or four-year average earnings in excess of covered compensation per year of participation (maximum of 35 years ), and/or (iii) highest three-year average earnings times years of participation in excess of 35 years . Duke Energy also maintains, and the Subsidiary Registrants participate in, non-qualified, non-contributory defined benefit retirement plans which cover certain executives. As of January 1, 2014, the qualified and non-qualified non-contributory defined benefit plans are closed to new and rehired non-union and certain unionized employees. Duke Energy uses a December 31 measurement date for its defined benefit retirement plan assets and obligations. Net periodic benefit costs disclosed in the tables below represent the cost of the respective benefit plan for the periods presented. However, portions of the net periodic benefit costs disclosed in the tables below have been capitalized as a component of property, plant and equipment. Amounts presented in the tables below for the Subsidiary Registrants represent the amounts of pension and other post-retirement benefit cost allocated by Duke Energy for employees of the Subsidiary Registrants. Additionally, the Subsidiary Registrants are allocated their proportionate share of pension and post-retirement benefit cost for employees of Duke Energy’s shared services affiliate that provide support to the Subsidiary Registrants. These allocated amounts are included in the governance and shared service costs discussed in Note 13 . Duke Energy’s policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants’ contributions to its U.S. qualified defined benefit pension plans. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Anticipated Contributions: 2016 $ 145 $ 43 $ 43 $ 24 $ 20 $ 4 $ 9 Contributions Made: 2015 $ 302 $ 91 $ 83 $ 42 $ 40 $ 8 $ 19 2014 — — — — — — — 2013 250 — 250 63 133 — — QUALIFIED PENSION PLANS Components of Net Periodic Pension Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 159 $ 50 $ 44 $ 23 $ 20 $ 4 $ 10 Interest cost on projected benefit obligation 324 83 104 48 54 18 27 Expected return on plan assets (516 ) (139 ) (171 ) (79 ) (87 ) (26 ) (42 ) Amortization of actuarial loss 166 39 65 33 31 7 13 Amortization of prior service (credit) cost (15 ) (7 ) (3 ) (2 ) (1 ) — 1 Other 8 2 3 1 1 — 1 Net periodic pension costs (a)(b) $ 126 $ 28 $ 42 $ 24 $ 18 $ 3 $ 10 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 135 $ 41 $ 40 $ 21 $ 20 $ 4 $ 9 Interest cost on projected benefit obligation 344 85 112 54 57 20 29 Expected return on plan assets (511 ) (132 ) (173 ) (85 ) (85 ) (27 ) (41 ) Amortization of actuarial loss 150 36 68 32 32 4 13 Amortization of prior service credit (15 ) (8 ) (3 ) (2 ) (1 ) — — Other 8 2 3 1 1 — 1 Net periodic pension costs (a)(b) $ 111 $ 24 $ 47 $ 21 $ 24 $ 1 $ 11 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 167 $ 49 $ 60 $ 22 $ 30 $ 6 $ 11 Interest cost on projected benefit obligation 320 80 116 50 53 21 28 Expected return on plan assets (549 ) (148 ) (199 ) (94 ) (87 ) (31 ) (46 ) Amortization of actuarial loss 244 60 101 46 49 13 24 Amortization of prior service (credit) cost (11 ) (6 ) (4 ) (1 ) (2 ) — 1 Other 7 2 2 1 1 — 1 Net periodic pension costs (a)(b) $ 178 $ 37 $ 76 $ 24 $ 44 $ 9 $ 19 (a) Duke Energy amounts exclude $9 million , $10 million , and $12 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. (b) Duke Energy Ohio amounts exclude $4 million , $5 million , and $6 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase $ 173 $ 65 $ 18 $ 14 $ 4 $ 14 $ 11 Accumulated other comprehensive loss (income) Deferred income tax expense $ 6 — 5 — — — — Actuarial losses arising during the year 4 — — — — — — Amortization of prior year service credit 1 — — — — — — Amortization of prior year actuarial losses (11 ) — (4 ) — — — — Transfer with the disposal group 3 Reclassification of actuarial losses to regulatory assets (6 ) — — — — — — Net amount recognized in accumulated other comprehensive income $ (3 ) $ — $ 1 $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase (decrease) $ 112 $ 30 $ (73 ) $ (17 ) $ 11 $ 17 $ 4 Accumulated other comprehensive (income) loss Deferred income tax expense $ (10 ) $ — $ (2 ) $ — $ — $ — $ — Actuarial losses arising during the year 29 — — — — — — Prior year service credit arising during the year — — — — — — — Amortization of prior year actuarial losses (9 ) — — — — — — Reclassification of actuarial losses to regulatory assets (1 ) — — — — — — Net amount recognized in accumulated other comprehensive income $ 9 $ — $ (2 ) $ — $ — $ — $ — Reconciliation of Funded Status to Net Amount Recognized Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 8,107 $ 2,053 $ 2,557 $ 1,187 $ 1,335 $ 469 $ 673 Obligation transferred with the Disposal Group (83 ) — — — — — — Service cost 159 50 44 23 20 4 10 Interest cost 324 83 104 48 54 18 27 Actuarial gain (241 ) (53 ) (111 ) (46 ) (62 ) (9 ) (15 ) Transfers — 8 4 7 (3 ) 8 — Plan amendments (6 ) — — — — — (4 ) Benefits paid (533 ) (146 ) (147 ) (76 ) (68 ) (37 ) (42 ) Obligation at measurement date $ 7,727 $ 1,995 $ 2,451 $ 1,143 $ 1,276 $ 453 $ 649 Accumulated Benefit Obligation at measurement date $ 7,606 $ 1,993 $ 2,414 $ 1,143 $ 1,240 $ 442 $ 628 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 8,498 $ 2,300 $ 2,722 $ 1,321 $ 1,363 $ 456 $ 681 Plan assets transferred with the Disposal Group (81 ) — — — — — — Employer contributions 302 91 83 42 40 8 19 Actual return on plan assets (50 ) (10 ) (22 ) (10 ) (11 ) (2 ) (3 ) Benefits paid (533 ) (146 ) (147 ) (76 ) (68 ) (37 ) (42 ) Transfers — 8 4 7 (3 ) 8 — Plan assets at measurement date $ 8,136 $ 2,243 $ 2,640 $ 1,284 $ 1,321 $ 433 $ 655 Funded status of plan $ 409 $ 248 $ 189 $ 141 $ 45 $ (20 ) $ 6 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 7,510 $ 1,875 $ 2,739 $ 1,172 $ 1,233 $ 442 $ 632 Service cost 135 41 40 21 20 4 9 Interest cost 344 85 112 54 57 20 29 Actuarial loss (a) 618 132 211 98 105 41 41 Transfers — 37 (375 ) (61 ) (9 ) (6 ) — Plan amendments (4 ) (1 ) — — — (1 ) — Benefits paid (496 ) (116 ) (170 ) (97 ) (71 ) (31 ) (38 ) Obligation at measurement date $ 8,107 $ 2,053 $ 2,557 $ 1,187 $ 1,335 $ 469 $ 673 Accumulated Benefit Obligation at measurement date $ 7,966 $ 2,052 $ 2,519 $ 1,187 $ 1,297 $ 459 $ 645 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 8,142 $ 2,162 $ 2,944 $ 1,330 $ 1,299 $ 448 $ 654 Actual return on plan assets 852 217 300 149 144 45 65 Benefits paid (496 ) (116 ) (170 ) (97 ) (71 ) (31 ) (38 ) Transfers — 37 (352 ) (61 ) (9 ) (6 ) — Plan assets at measurement date $ 8,498 $ 2,300 $ 2,722 $ 1,321 $ 1,363 $ 456 $ 681 Funded status of plan $ 391 $ 247 $ 165 $ 134 $ 28 $ (13 ) $ 8 (a) Includes an increase in benefit obligation of $180 million as a result of changes in Duke Energy's mortality assumptions. Amounts Recognized in the Consolidated Balance Sheets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Prefunded pension (a) $ 474 $ 252 $ 232 $ 145 $ 84 $ 1 $ 6 Noncurrent pension liability (b) $ 65 $ 4 $ 43 $ 4 $ 39 $ 21 $ — Net asset recognized $ 409 $ 248 $ 189 $ 141 $ 45 $ (20 ) $ 6 Regulatory assets $ 1,884 $ 472 $ 771 $ 360 $ 410 $ 79 $ 162 Accumulated other comprehensive (income) loss Deferred income tax asset $ (45 ) $ — $ (6 ) $ — $ — $ — $ — Prior service credit (4 ) — — — — — — Net actuarial loss 130 — 17 — — — — Net amounts recognized in accumulated other comprehensive loss (c) $ 81 $ — $ 11 $ — $ — $ — $ — Amounts to be recognized in net periodic pension costs in the next year Unrecognized net actuarial loss $ 132 $ 31 $ 59 $ 25 $ 31 $ 4 $ 11 Unrecognized prior service credit (16 ) (8 ) (3 ) (2 ) (1 ) — — December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Prefunded pension (a) $ 441 $ 247 $ 165 $ 134 $ 28 $ — $ 8 Noncurrent pension liability (b) $ 50 $ — $ — $ — $ — $ 13 $ — Net asset recognized $ 391 $ 247 $ 165 $ 134 $ 28 $ (13 ) $ 8 Regulatory assets $ 1,711 $ 407 $ 753 $ 346 $ 406 $ 65 $ 151 Accumulated other comprehensive (income) loss Deferred income tax asset $ (51 ) $ — $ (11 ) $ — $ — $ — $ — Prior service credit (5 ) — — — — — — Net actuarial loss 140 — 21 — — — — Net amounts recognized in accumulated other comprehensive loss (c) $ 84 $ — $ 10 $ — $ — $ — $ — (a) Included in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. (c) Excludes accumulated other comprehensive income of $13 million and $22 million as of December 31, 2015 and 2014 , respectively, net of tax, associated with a Brazilian retirement plan. Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets December 31, 2015 Duke Duke Duke Progress Energy Energy (in millions) Energy Energy Florida Ohio Projected benefit obligation $ 1,216 $ 611 $ 611 $ 307 Accumulated benefit obligation 1,158 575 575 298 Fair value of plan assets 1,151 574 574 289 December 31, 2014 Duke Duke Energy (in millions) Energy Ohio Projected benefit obligation $ 702 $ 315 Accumulated benefit obligation 672 306 Fair value of plan assets 652 302 Assumptions Used for Pension Benefits Accounting The discount rate used to determine the current year pension obligation and following year’s pension expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected. The average remaining service period of active covered employees is seven years for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana. The following tables present the assumptions or range of assumptions used for pension benefit accounting. December 31, 2015 2014 2013 Benefit Obligations Discount rate 4.40% 4.10% 4.70% Salary increase 4.00 % - 4.40% 4.00 % - 4.40% 4.00 % - 4.40% Net Periodic Benefit Cost Discount rate 4.10% 4.70% 4.10% Salary increase 4.00 % - 4.40% 4.00 % - 4.40% 4.00 % - 4.30% Expected long-term rate of return on plan assets 6.50% 6.75% 7.75% Expected Benefit Payments Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Years ending December 31, 2016 $ 628 $ 189 $ 164 $ 91 $ 71 $ 35 $ 48 2017 639 199 167 92 73 35 47 2018 640 203 169 92 75 34 47 2019 643 202 171 91 77 34 47 2020 641 201 174 92 80 35 47 2021 – 2025 3,053 906 869 438 420 171 230 NON-QUALIFIED PENSION PLANS Components of Net Periodic Pension Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 3 $ — $ 1 $ — $ — $ — $ — Interest cost on projected benefit obligation 13 1 4 1 2 — — Amortization of actuarial loss 6 — 2 1 2 — 1 Amortization of prior service credit (1 ) — (1 ) — — — — Net periodic pension costs $ 21 $ 1 $ 6 $ 2 $ 4 $ — $ 1 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 3 $ — $ 1 $ 1 $ — $ — $ — Interest cost on projected benefit obligation 14 1 5 1 2 — — Amortization of actuarial loss 3 — 2 — — — — Amortization of prior service credit (1 ) — (1 ) — — — — Net periodic pension costs $ 19 $ 1 $ 7 $ 2 $ 2 $ — $ — Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 3 $ — $ 1 $ 1 $ — $ — $ — Interest cost on projected benefit obligation 13 1 7 1 1 — — Amortization of actuarial loss 5 — 3 1 1 — — Amortization of prior service credit (1 ) — (1 ) — — — — Net periodic pension costs $ 20 $ 1 $ 10 $ 3 $ 2 $ — $ — Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net (decrease) increase $ (13 ) $ 2 $ (16 ) $ (1 ) $ (15 ) $ — $ (1 ) Accumulated other comprehensive (income) loss Deferred income tax benefit $ (7 ) $ — $ (5 ) $ — $ — $ — $ — Amortization of prior service credit 1 — — — — — — Actuarial gains arising during the year 17 — 13 — — — — Net amount recognized in accumulated other comprehensive loss (income) $ 11 $ — $ 8 $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase $ 44 $ 1 $ 14 $ 4 $ 19 $ 1 $ 2 Regulatory liabilities, net decrease $ (7 ) $ — $ — $ — $ — $ — $ — Accumulated other comprehensive (income) loss Deferred income tax benefit $ 4 $ — $ 5 $ — $ — $ — $ — Actuarial gains arising during the year (9 ) — (11 ) — — — — Net amount recognized in accumulated other comprehensive loss (income) $ (5 ) $ — $ (6 ) $ — $ — $ — $ — Reconciliation of Funded Status to Net Amount Recognized Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Service cost 3 — 1 — — — — Interest cost 13 1 4 1 2 — — Actuarial losses (gains) 10 1 (1 ) — (14 ) — — Transfers 4 — — — — — — Benefits paid (26 ) (2 ) (8 ) (3 ) (3 ) — — Obligation at measurement date $ 341 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Accumulated Benefit Obligation at measurement date $ 336 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Change in Fair Value of Plan Assets Plan assets at prior measurement date — — — — — — — Benefits paid (26 ) (2 ) (8 ) (3 ) (3 ) — — Employer contributions 26 2 8 3 3 — — Plan assets at measurement date $ — $ — $ — $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 304 $ 15 $ 140 $ 34 $ 39 $ 3 $ 5 Service cost 3 — 1 1 — — — Interest cost 14 1 5 1 2 — — Actuarial losses (a) 43 2 11 2 20 1 1 Settlements — — — — — — — Plan amendments — — — — — — — Transfers — — (32 ) — 4 — — Benefits paid (27 ) (2 ) (9 ) (3 ) (4 ) — (1 ) Obligation at measurement date $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Accumulated Benefit Obligation at measurement date $ 333 $ 15 $ 116 $ 35 $ 61 $ 4 $ 5 Change in Fair Value of Plan Assets Plan assets at prior measurement date — — — — — — — Benefits paid (27 ) (2 ) (9 ) (3 ) (4 ) — (1 ) Employer contributions 27 2 9 3 4 — 1 Plan assets at measurement date $ — $ — $ — $ — $ — $ — $ — (a) Includes an increase in benefit obligation of $21 million as a result of changes in Duke Energy's mortality assumptions. Amounts Recognized in the Consolidated Balance Sheets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current pension liability (a) $ 27 $ 2 $ 8 $ 3 $ 3 $ — $ — Noncurrent pension liability (b) 314 14 104 30 43 4 5 Total accrued pension liability $ 341 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Regulatory assets $ 76 $ 7 $ 16 $ 6 $ 10 $ 1 $ 1 Accumulated other comprehensive (income) loss Deferred income tax liability $ (3 ) $ — $ (3 ) $ — $ — $ — $ — Net actuarial loss 9 — 9 — — — — Net amounts recognized in accumulated other comprehensive income $ 6 $ — $ 6 $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss $ 8 $ — $ 1 $ — $ — $ — $ — Unrecognized prior service credit (1 ) — — — — — — December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current pension liability (a) $ 27 $ 2 $ 8 $ 3 $ 4 $ — $ — Noncurrent pension liability (b) 310 14 108 32 57 4 5 Total accrued pension liability $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Regulatory assets $ 89 $ 5 $ 32 $ 7 $ 25 $ 1 $ 2 Regulatory liabilities $ — $ — $ — $ — $ — $ — $ — Accumulated other comprehensive (income) loss Deferred income tax asset $ 4 $ — $ 2 $ — $ — $ — $ — Prior service credit (1 ) — — — — — — Net actuarial gain (8 ) — (4 ) — — — — Net amounts recognized in accumulated other comprehensive loss $ (5 ) $ — $ (2 ) $ — $ — $ — $ — (a) Included in Other within Current Liabilities on the Consolidated Balance Sheets. (b) Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Projected benefit obligation $ 341 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Accumulated benefit obligation 336 16 112 33 46 4 5 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Projected benefit obligation $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Accumulated benefit obligation 333 15 116 35 61 4 5 Assumptions Used for Pension Benefits Accounting The discount rate used to determine the current year pension obligation and following year’s pension expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected. The average remaining service period of active covered employees is 10 years for Duke Energy and Progress Energy, seven years for Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, 12 years for Duke Energy Progress and 17 years for Duke Energy Florida. The following tables present the assumptions used for pension benefit accounting. December 31, 2015 2014 2013 Benefit Obligations Discount rate 4.40 % 4.10 % 4.70 % Salary increase 4.40 % 4.40 % 4.40 % Net Periodic Benefit Cost Discount rate 4.10 % 4.70 % 4.10 % Salary increase 4.40 % 4.40 % 4.30 % Expected Benefit Payments Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Years ending December 31, 2016 $ 28 $ 2 $ 8 $ 3 $ 3 $ — $ — 2017 29 2 8 3 3 — — 2018 25 2 8 3 3 — — 2019 26 2 8 3 3 — — 2020 25 2 8 3 3 — 1 2021 - 2025 126 9 38 12 16 1 2 OTHER POST-RETIREMENT BENEFIT PLANS Duke Energy provides, and the Subsidiary Registrants participate in, some health care and life insurance benefits for retired employees on a contributory and non-contributory basis. Employees are eligible for these benefits if they have met age and service requirements at retirement, as defined in the plans. The health care benefits include medical, dental, and prescription drug coverage and are subject to certain limitations, such as deductibles and co-payments. Duke Energy did not make any pre-funding contributions to its other post-retirement benefit plans during the years ended December 31, 2015 , 2014 or 2013 . Components of Net Periodic Other Post-Retirement Benefit Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 6 $ 1 $ 1 $ 1 $ 1 $ — $ 1 Interest cost on accumulated post-retirement benefit obligation 36 9 15 8 7 2 4 Expected return on plan assets (13 ) (8 ) — — — (1 ) (1 ) Amortization of actuarial loss (gain) 16 (2 ) 28 18 10 (2 ) (2 ) Amortization of prior service credit (140 ) (14 ) (102 ) (68 ) (35 ) — — Net periodic post-retirement benefit costs (a)(b) $ (95 ) $ (14 ) $ (58 ) $ (41 ) $ (17 ) $ (1 ) $ 2 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 10 $ 2 $ 4 $ 1 $ 3 $ — $ 1 Interest cost on accumulated post-retirement benefit obligation 49 12 22 11 12 2 5 Expected return on plan assets (13 ) (9 ) — — — — (1 ) Amortization of actuarial loss (gain) 39 3 42 31 10 (2 ) — Amortization of prior service credit (125 ) (11 ) (95 ) (73 ) (21 ) — — Net periodic post-retirement benefit costs (a)(b) $ (40 ) $ (3 ) $ (27 ) $ (30 ) $ 4 $ — $ 5 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 24 $ 2 $ 18 $ 9 $ 7 $ 1 $ 1 Interest cost on accumulated post-retirement benefit obligation 68 13 41 22 16 2 5 Expected return on plan assets (14 ) (11 ) — — — (1 ) (1 ) Amortization of actuarial loss (gain) 52 3 57 34 16 (1 ) 1 Amortization of prior service credit (41 ) (7 ) (30 ) (20 ) (6 ) (1 ) — Net periodic post-retirement benefit costs (a)(b) $ 89 $ — $ 86 $ 45 $ 33 $ — $ 6 (a) Duke Energy amounts exclude $10 million , $9 million , and $8 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. (b) Duke Energy Ohio amounts exclude $3 million , $2 million , and $2 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase (decrease) $ 1 $ — $ 1 $ — $ 1 $ — $ (7 ) Regulatory liabilities, net increase (decrease) $ (92 ) $ (8 ) $ (71 ) $ (36 ) $ (35 ) $ 2 $ (8 ) Accumulated other comprehensive (income) loss Deferred income tax benefit $ 2 $ — $ (1 ) $ — $ — $ — $ — Actuarial losses (gains) arising during the year (5 ) — 2 — — — — Transfer with the disposal group (3 ) — — — — — — Amortization of prior year prior service credit 3 — (1 ) — — — — Net amount recognized in accumulated other comprehensive income $ (3 ) $ — $ — $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase (decrease) $ 162 $ 34 $ 129 $ 97 $ (4 ) $ — $ (7 ) Regulatory liabilities, net increase (decrease) $ 249 $ 76 $ 122 $ 61 $ 61 $ (2 ) $ 14 Accumulated other comprehensive (income) loss Deferred income tax benefit $ 1 $ — $ 1 $ — $ — $ — $ — Actuarial losses (gains) arising during the year 1 — (2 ) — — — — Prior year service credit arising during the year (6 ) — — — — — — Amortization of prior year prior service credit 2 — — — — — — Net amount recognized in accumulated other comprehensive income $ (2 ) $ — $ (1 ) $ — $ — $ — $ — Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 916 $ 220 $ 379 $ 207 $ 170 $ 39 $ 96 Service cost 6 1 1 1 1 — 1 Interest cost 36 9 15 8 7 2 4 Plan participants' contributions 20 4 7 4 3 1 2 Actuarial (gains) losses (39 ) (18 ) (1 ) (13 ) 11 (3 ) 1 Transfers — 2 — — — — — Plan amendments (9 ) — — — — (1 ) (4 ) Benefits paid (100 ) (18 ) (47 ) (19 ) (28 ) (3 ) (13 ) Obligation transferred with the Disposal Group (3 ) — — — — — — Accrued retiree drug subsidy 1 — — — — — — Accumulated post-retirement benefit obligation at measurement date $ 828 $ 200 $ 354 $ 188 $ 164 $ 35 $ 87 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 227 $ 145 $ — $ (1 ) $ — $ 8 $ 23 Actual return on plan assets (1 ) (1 ) 1 1 1 — (1 ) Benefits paid (100 ) (18 ) (47 ) (19 ) (28 ) (3 ) (13 ) Employer contributions 62 4 39 15 25 2 8 Plan participants' contributions 20 4 7 4 3 1 2 Plan assets at measurement date $ 208 $ 134 $ — $ — $ 1 $ 8 $ 19 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 1,106 $ 265 $ 533 $ 233 $ 253 $ 42 $ 118 Service cost 10 2 4 1 3 — 1 Interest cost 49 12 22 11 12 2 5 Plan participants' contributions 25 10 8 4 4 — 2 Actuarial gains (a) (87 ) (35 ) (19 ) (21 ) — — (20 ) Transfers — 1 (48 ) (2 ) — (1 ) — Plan amendments (85 ) (4 ) (77 ) — (78 ) (1 ) — Benefits paid (103 ) (31 ) (44 ) (19 ) (24 ) (3 ) (10 ) Accrued retiree drug subsidy 1 — — — — — — Accumulated post-retirement benefit obligation at measurement date $ 916 $ 220 $ 379 $ 207 $ 170 $ 39 $ 96 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 214 $ 143 $ — $ — $ — $ 8 $ 18 Actual return on plan assets 18 12 — — — — 2 Benefits paid (103 ) (31 ) (44 ) (19 ) (24 ) (3 ) (10 ) Transfers — (1 ) — — — — — Employer contributions 73 12 36 14 20 3 11 Plan participants' contributions 25 10 8 4 4 — 2 Plan assets at measurement date $ 227 $ 145 $ — $ (1 ) $ — $ 8 $ 23 (a) Includes an increase in benefit obligation of $7 million as a result of changes in Duke Energy's mortality assumptions. Amounts Recognized in the Consolidated Balance Sheets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current post-retirement liability (a) $ 37 $ — $ 31 $ 16 $ 15 $ 2 $ — Noncurrent post-retirement liability (b) 583 66 323 172 149 25 68 Total accrued post-retirement liability $ 620 $ 66 $ 354 $ 188 $ 164 $ 27 $ 68 Regulatory assets $ 1 $ — $ 1 $ — $ 1 $ — $ 57 Regulatory liabilities $ 288 $ 68 $ 51 $ 25 $ 26 $ 21 $ 83 Accumulated other comprehensive (income) loss Deferred income tax liability $ 7 $ — $ — $ — $ — $ — $ — Prior service credit (6 ) — (1 ) — — — — Net actuarial gain (13 ) — — — — — — Net amounts recognized in accumulated other comprehensive income $ (12 ) $ — $ (1 ) $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss (gain) $ 6 $ (3 ) $ 22 $ 13 $ 9 $ (2 ) $ (2 ) Unrecognized prior service credit (142 ) (14 ) (103 ) (68 ) (35 ) — (1 ) December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current post-retirement liability (a) $ 35 $ — $ 29 $ 16 $ 14 $ 2 $ — Noncurrent post-retirement liability (b) 654 75 350 192 156 29 73 Total accrued post-retirement liability $ 689 $ 75 $ 379 $ 208 $ 170 $ 31 $ 73 Regulatory assets $ — $ — $ — $ — $ — $ — $ 64 Regulatory liabilities $ 380 $ 76 $ 122 $ 61 $ 61 $ 19 $ 91 Accumulated other comprehensive (income) loss Deferred income tax liability $ 5 $ — $ 1 $ — $ — $ — $ — Prior service credit (9 ) — — — — — — Net actuarial gain (5 ) — (2 ) — — — — Net amounts recognized in accumulated other comprehensive income $ (9 ) $ — $ (1 ) $ — $ — $ — $ — (a) Included in Other within Current Liabilities on the Consolidated Balance Sheets. (b) Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. Assumptions Used for Other Post-Retirement Benefits Accounting The discount rate used to determine the current year other post-retirement benefits obligation and following year’s other post-retirement benefits expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected. The following tables present the assumptions used for other post-retirement benefits accounting. December 31, 2015 2014 2013 Benefit Obligations Discount rate 4.40 % 4.10 % 4.70 % Net Periodic Benefit Cost Discount rate 4.10 % 4.70 % 4.10 % Expected long-term rate of return on plan assets 6.50 % 6.75 % 7.75 % Assumed tax rate 35 % 35 % 35 % Assumed Health Care Cost Trend Rate December 31, 2015 2014 Health care cost trend rate assumed for next year 7.50 % 6.75 % Rate to which the cost trend is assumed to |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Income Tax Expense Components of Income Tax Expense Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current income taxes Federal $ — $ 216 $ (193 ) $ (56 ) $ 1 $ (18 ) $ (86 ) State (12 ) 14 1 (4 ) (7 ) (1 ) (12 ) Foreign 99 — — — — — — Total current income taxes 87 230 (192 ) (60 ) (6 ) (19 ) (98 ) Deferred income taxes Federal 1,089 345 694 334 290 96 245 State 181 57 27 27 58 5 17 Foreign (17 ) — — — — — — Total deferred income taxes (a) 1,253 402 721 361 348 101 262 Investment tax credit amortization (14 ) (5 ) (7 ) (7 ) — (1 ) (1 ) Income tax expense from continuing operations 1,326 627 522 294 342 81 163 Tax expense (benefit) from discontinued operations 19 — (1 ) — — 22 — Total income tax expense included in Consolidated Statements of Operations $ 1,345 $ 627 $ 521 $ 294 $ 342 $ 103 $ 163 (a) Includes benefits of net operating loss (NOL) carryforwards and utilization of NOL and tax credit carryforwards of $264 million at Duke Energy, $15 million at Duke Energy Carolinas, $119 million at Progress Energy, $21 million at Duke Energy Progress, $84 million at Duke Energy Florida, $3 million at Duke Energy Ohio and $45 million at Duke Energy Indiana. Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current income taxes Federal $ — $ 161 $ (466 ) $ (184 ) $ (53 ) $ (73 ) $ (112 ) State 56 51 (8 ) 14 1 3 1 Foreign 144 — — — — — — Total current income taxes 200 212 (474 ) (170 ) (52 ) (70 ) (111 ) Deferred income taxes Federal 1,517 407 938 436 350 113 294 State 35 (25 ) 84 25 52 1 15 Foreign (67 ) — — — — — — Total deferred income taxes (a)(b) 1,485 382 1,022 461 402 114 309 Investment tax credit amortization (16 ) (6 ) (8 ) (6 ) (1 ) (1 ) (1 ) Income tax expense from continuing operations 1,669 588 540 285 349 43 197 Tax benefit from discontinued operations (295 ) — (4 ) — — (300 ) — Total income tax expense (benefit) included in Consolidated Statements of Operations $ 1,374 $ 588 $ 536 $ 285 $ 349 $ (257 ) $ 197 (a) There were no benefits of NOL carryforwards. (b) Includes utilization of NOL and tax credit carryforwards of $1,544 million at Duke Energy, $345 million at Duke Energy Carolinas, $530 million at Progress Energy, $291 million at Duke Energy Progress, $64 million at Duke Energy Florida, $56 million at Duke Energy Ohio and $141 million at Duke Energy Indiana. Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current income taxes Federal $ (141 ) $ 49 $ (221 ) $ (70 ) $ (143 ) $ (24 ) $ (88 ) State (40 ) 11 (37 ) (10 ) (13 ) (4 ) 7 Foreign 151 — — — — — — Total current income taxes (30 ) 60 (258 ) (80 ) (156 ) (28 ) (81 ) Deferred income taxes Federal 1,092 464 555 316 326 65 276 State 144 75 84 59 44 6 29 Foreign 14 — — — — — — Total deferred income taxes (a) 1,250 539 639 375 370 71 305 Investment tax credit amortization (15 ) (5 ) (8 ) (7 ) (1 ) — (1 ) Income tax expense from continuing operations 1,205 594 373 288 213 43 223 Tax expense (benefit) from discontinued operations 29 — (26 ) — — 32 — Total income tax expense included in Consolidated Statements of Operations $ 1,234 $ 594 $ 347 $ 288 $ 213 $ 75 $ 223 (a) Includes benefits of NOL carryforwards of $808 million at Duke Energy, $458 million at Progress Energy, $64 million at Duke Energy Progress, $301 million at Duke Energy Florida and $179 million at Duke Energy Indiana. Duke Energy Income from Continuing Operations before Income Taxes Years Ended December 31, (in millions) 2015 2014 2013 Domestic $ 3,828 $ 3,600 $ 3,183 Foreign 309 534 612 Income from continuing operations before income taxes $ 4,137 $ 4,134 $ 3,795 Statutory Rate Reconciliation The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Income tax expense, computed at the statutory rate of 35 percent $ 1,448 $ 598 $ 555 $ 302 $ 330 $ 81 $ 168 State income tax, net of federal income tax effect 109 46 18 15 33 2 2 Tax differential on foreign earnings (27 ) — — — — — — AFUDC equity income (58 ) (34 ) (19 ) (17 ) (3 ) (1 ) (4 ) Renewable energy production tax credits (72 ) — (1 ) — — — — Audit adjustment (22 ) — (23 ) 1 (24 ) — — Tax true-up 2 2 (3 ) (4 ) 2 (5 ) (9 ) Other items, net (54 ) 15 (5 ) (3 ) 4 4 6 Income tax expense from continuing operations $ 1,326 $ 627 $ 522 $ 294 $ 342 $ 81 $ 163 Effective tax rate 32.1 % 36.7 % 32.9 % 34.2 % 36.3 % 35.2 % 34.0 % Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Income tax expense, computed at the statutory rate of 35 percent $ 1,447 $ 581 $ 497 $ 263 $ 314 $ 39 $ 195 State income tax, net of federal income tax effect 59 17 49 25 34 3 10 Tax differential on foreign earnings (a) (110 ) — — — — — — AFUDC equity income (47 ) (32 ) (9 ) (9 ) — (1 ) (5 ) Renewable energy production tax credits (67 ) — — — — — — International tax dividend (b) 373 — — — — — — Other items, net 14 22 3 6 1 2 (3 ) Income tax expense (benefit) from continuing operations $ 1,669 $ 588 $ 540 $ 285 $ 349 $ 43 $ 197 Effective tax rate 40.4 % 35.4 % 38.0 % 37.9 % 38.9 % 38.9 % 35.5 % (a) Includes a $57 million benefit as a result of the merger of two Chilean subsidiaries and a change in income tax rates in various countries primarily relating to Peru. (b) During 2014, Duke Energy declared a taxable dividend of foreign earnings in the form of notes payable that was expected to result in the repatriation of approximately $2.7 billion of cash held, and expected to be generated, by International Energy over a period of up to eight years. In 2015, approximately $1.5 billion was remitted. As a result of the decision to repatriate cumulative historical undistributed foreign earnings Duke Energy recorded U.S. income tax expense of approximately $373 million in 2014. Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Income tax expense, computed at the statutory rate of 35 percent $ 1,328 $ 549 $ 361 $ 276 $ 188 $ 39 $ 203 State income tax, net of federal income tax effect 66 56 31 31 20 2 23 Tax differential on foreign earnings (49 ) — — — — — — AFUDC equity income (55 ) (32 ) (18 ) (15 ) (3 ) — (5 ) Renewable energy production tax credits (62 ) — — — — — — Other items, net (23 ) 21 (1 ) (4 ) 8 2 2 Income tax expense from continuing operations $ 1,205 $ 594 $ 373 $ 288 $ 213 $ 43 $ 223 Effective tax rate 31.8 % 37.8 % 36.2 % 36.5 % 39.6 % 39.1 % 38.4 % Valuation allowances have been established for certain foreign and state NOL carryforwards and state income tax credits that reduce deferred tax assets to an amount that will be realized on a more-likely-than-not basis. The net change in the total valuation allowance is included in Tax differential on foreign earnings and State income tax, net of federal income tax effect in the above tables. Undistributed Foreign Earnings As of December 31, 2015, Duke Energy’s intention was to indefinitely reinvest undistributed earnings generated by Duke Energy's foreign subsidiaries. As a result, no U.S. tax is recorded on such earnings of approximately $250 million . The amount of unrecognized deferred tax liability related to undistributed earnings was approximately $12 million . On February 18, 2016, Duke Energy announced it had initiated a process to divest the International Energy business segment, excluding the investment in NMC. See Note 2 for further information. Accordingly, Duke Energy no longer intends to indefinitely reinvest the undistributed foreign earnings of International Energy and will therefore record U.S. taxes related to International Energy's undistributed foreign earnings during the first quarter of 2016. DEFERRED TAXES Net Deferred Income Tax Liability Components December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Deferred credits and other liabilities $ 245 $ 38 $ 115 $ 25 $ 66 $ 29 $ 5 Capital lease obligations 63 9 — — — — 2 Pension, post-retirement and other employee benefits 580 46 186 92 82 24 40 Progress Energy merger purchase accounting adjustments (a) 1,009 — — — — — — Tax credits and NOL carryforwards 3,719 170 997 163 177 25 215 Investments and other assets — — — — — 3 — Other 206 20 48 2 46 37 20 Valuation allowance (160 ) — (38 ) — — — — Total deferred income tax assets 5,662 283 1,308 282 371 118 282 Investments and other assets (1,584 ) (1,057 ) (412 ) (228 ) (201 ) — (7 ) Accelerated depreciation rates (13,070 ) (4,429 ) (4,169 ) (2,325 ) (1,868 ) (1,356 ) (1,797 ) Regulatory assets and deferred debits, net (3,633 ) (943 ) (1,517 ) (756 ) (762 ) (169 ) (135 ) Total deferred income tax liabilities (18,287 ) (6,429 ) (6,098 ) (3,309 ) (2,831 ) (1,525 ) (1,939 ) Net deferred income tax liabilities $ (12,625 ) $ (6,146 ) $ (4,790 ) $ (3,027 ) $ (2,460 ) $ (1,407 ) $ (1,657 ) (a) Primarily related to capital lease obligations and debt fair value adjustments. The following table presents the expiration of tax credits and NOL carryforwards. December 31, 2015 (in millions) Amount Expiration Year Investment tax credits $ 864 2029 — 2035 Alternative minimum tax credits 1,121 Indefinite Federal NOL carryforwards 484 2030 — 2033 State NOL carryforwards and credits (a) 299 2016 — 2035 Foreign NOL carryforwards (b) 100 2026 — 2034 Foreign Tax Credits 851 2024 Total tax credits and NOL carryforwards $ 3,719 (a) A valuation allowance of $81 million has been recorded on the state Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (b) A valuation allowance of $79 million has been recorded on the foreign Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Deferred credits and other liabilities $ 188 $ 53 $ 108 $ 28 $ 78 $ (8 ) $ 12 Capital lease obligations 63 10 — — — — 2 Pension, post-retirement and other employee benefits 546 4 188 96 93 17 43 Progress Energy merger purchase accounting adjustments (a) 1,124 — — — — — — Tax credits and NOL carryforwards 3,540 157 980 91 252 38 260 Investments and other assets — — — — — 14 — Other — 12 — 55 — 35 11 Valuation allowance (184 ) — (13 ) (1 ) — — — Total deferred income tax assets 5,277 236 1,263 269 423 96 328 Investments and other assets (1,625 ) (1,051 ) (427 ) (232 ) (245 ) — (4 ) Accelerated depreciation rates (11,715 ) (4,046 ) (3,284 ) (2,030 ) (1,252 ) (1,660 ) (1,603 ) Regulatory assets and deferred debits, net (3,694 ) (953 ) (1,602 ) (809 ) (792 ) (141 ) (106 ) Other (44 ) — (151 ) — (246 ) — — Total deferred income tax liabilities (17,078 ) (6,050 ) (5,464 ) (3,071 ) (2,535 ) (1,801 ) (1,713 ) Net deferred income tax liabilities $ (11,801 ) $ (5,814 ) $ (4,201 ) $ (2,802 ) $ (2,112 ) $ (1,705 ) $ (1,385 ) (a) Primarily related to capital lease obligations and debt fair value adjustments. On July 23, 2013, HB 998 was signed into law. HB 998 reduces the North Carolina corporate income tax rate from a statutory 6.9 percent to 6.0 percent in January 2014 with a further reduction to 5.0 percent in January 2015. Duke Energy recorded a net reduction of approximately $145 million to its North Carolina deferred tax liability in the third quarter of 2013. The significant majority of this deferred tax liability reduction was offset by recording a regulatory liability pending NCUC determination of the disposition of the amounts related to Duke Energy Carolinas and Duke Energy Progress. The impact of HB 998 did not have a significant impact on the financial position, results of operation, or cash flows of Duke Energy, Duke Energy Carolinas, Progress Energy or Duke Energy Progress. On August 6, 2015, pursuant to N.C. Gen. Stat. 105-130.3C, the North Carolina Department of Revenue announced the North Carolina corporate income tax rate would be reduced from a statutory rate of 5.0 percent to 4.0 percent beginning January 1, 2016. Duke Energy recorded a net reduction of approximately $95 million to its North Carolina deferred tax liability in the third quarter of 2015. The significant majority of this deferred tax liability reduction was offset by recording a regulatory liability pending NCUC determination of the disposition of amounts related to Duke Energy Carolinas and Duke Energy Progress. The impact did not have a significant impact on the financial position, results of operation, or cash flows of Duke Energy, Duke Energy Carolinas, Progress Energy or Duke Energy Progress. Balance Sheet Classification of Deferred Taxes As discussed in Note 1, the FASB issued revised accounting guidance for the Balance Sheet classification of deferred taxes. As shown in the table below, all deferred tax assets and liabilities are presented as noncurrent as of December 31, 2015. However, for December 31, 2014, the revised guidance was not applied. As a result, a portion of deferred tax assets and liabilities is shown as current at December 31, 2014. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Investments and Other Assets: Other 80 — — — — — — Deferred Credits and Other Liabilities: Deferred income taxes (12,705 ) (6,146 ) (4,790 ) (3,027 ) (2,460 ) (1,407 ) (1,657 ) Net deferred income tax liabilities $ (12,625 ) $ (6,146 ) $ (4,790 ) $ (3,027 ) $ (2,460 ) $ (1,407 ) $ (1,657 ) December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current Assets: Other $ 1,593 $ 3 $ 558 $ 106 $ 340 $ 60 $ 206 Investments and Other Assets: Other 29 — — — — — — Current Liabilities: Other — (5 ) — — — — — Deferred Credits and Other Liabilities: Deferred income taxes (13,423 ) (5,812 ) (4,759 ) (2,908 ) (2,452 ) (1,765 ) (1,591 ) Net deferred income tax liabilities $ (11,801 ) $ (5,814 ) $ (4,201 ) $ (2,802 ) $ (2,112 ) $ (1,705 ) $ (1,385 ) UNRECOGNIZED TAX BENEFITS The following tables present changes to unrecognized tax benefits. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana Unrecognized tax benefits – January 1 $ 213 $ 160 $ 32 $ 23 $ 8 $ 1 Unrecognized tax benefits increases (decreases) Gross increases – tax positions in prior periods — — 1 1 — — Gross decreases – tax positions in prior periods (48 ) (45 ) — — — — Decreases due to settlements (45 ) (43 ) — — — — Reduction due to lapse of statute of limitations (32 ) — (32 ) (21 ) (8 ) — Total changes (125 ) (88 ) (31 ) (20 ) (8 ) — Unrecognized tax benefits – December 31 $ 88 $ 72 $ 1 $ 3 $ — $ 1 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana Unrecognized tax benefits – January 1 $ 230 $ 171 $ 32 $ 22 $ 8 $ 1 Unrecognized tax benefits (decreases) increases Gross increases – tax positions in prior periods — — 1 1 — — Gross decreases – tax positions in prior periods (2 ) — — — — — Decreases due to settlements (15 ) (11 ) (1 ) — — — Total changes (17 ) (11 ) — 1 — — Unrecognized tax benefits – December 31 $ 213 $ 160 $ 32 $ 23 $ 8 $ 1 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Unrecognized tax benefits – January 1 $ 540 $ 271 $ 131 $ 67 $ 44 $ 36 $ 32 Unrecognized tax benefits increases (decreases) Gross decreases – tax positions in prior periods (231 ) (100 ) (86 ) (45 ) (37 ) (36 ) (31 ) Decreases due to settlements (66 ) — — — — — — Reduction due to lapse of statute of limitations (13 ) — (13 ) — 1 — — Total changes (310 ) (100 ) (99 ) (45 ) (36 ) (36 ) (31 ) Unrecognized tax benefits – December 31 $ 230 $ 171 $ 32 $ 22 $ 8 $ — $ 1 The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits. It is reasonably possible that Duke Energy could reflect an approximate $65 million reduction and Duke Energy Carolinas could reflect an approximate $63 million reduction in unrecognized tax benefits within the next 12 months. All other Duke Energy Registrants do not anticipate a material increase or decrease in unrecognized tax benefits within the next 12 months. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Amount that if recognized, would affect the effective tax rate or regulatory liability (a) $ 62 $ 54 $ 2 $ 3 $ 1 $ — $ 2 Amount that if recognized, would be recorded as a component of discontinued operations 4 — — — — — — (a) Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana are unable to estimate the specific amounts that would affect the effective tax rate versus the regulatory liability. OTHER TAX MATTERS The following tables include interest recognized in the Consolidated Statements of Operations and the Consolidated Balance Sheets. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Net interest income recognized related to income taxes $ 12 $ — $ 2 $ 2 $ 1 $ — $ 1 Net interest expense recognized related to income taxes — 1 — — — — — Interest receivable related to income taxes 3 — — — — — 3 Interest payable related to income taxes — 14 — 1 — — — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Net interest income recognized related to income taxes $ 6 $ — 3 — 1 4 $ 4 Net interest expense recognized related to income taxes — 1 — 1 — — — Interest receivable related to income taxes — — — — — — 2 Interest payable related to income taxes 13 13 5 3 5 — — Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Net interest income recognized related to income taxes $ 2 $ 2 $ 6 $ 7 $ — 4 1 Interest payable related to income taxes 27 8 10 2 7 — — Duke Energy and its subsidiaries are no longer subject to U.S. federal examination for years before 2008. The years 2008 through 2011 are in Appeals. The IRS is currently auditing the federal income tax returns for years 2012 through 2014. With few exceptions, Duke Energy and its subsidiaries are no longer subject to state, local or non-U.S. income tax examinations by tax authorities for years before 2004. |
Other Income and Expenses, Net
Other Income and Expenses, Net | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Other Income and Expenses, Net | OTHER INCOME AND EXPENSES, NET The components of Other income and expenses, net on the Consolidated Statements of Operations are as follows. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Interest income $ 38 $ 2 $ 4 $ 2 $ 2 $ 4 $ 6 Foreign exchange losses (4 ) — — — — — — AFUDC equity 164 96 54 47 7 3 11 Post in-service equity returns 73 60 13 13 — — — Nonoperating income (expense), other 36 2 26 9 15 (1 ) (6 ) Other income and expense, net $ 307 $ 160 $ 97 $ 71 $ 24 $ 6 $ 11 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Interest income $ 57 $ 4 $ 3 $ — $ 2 $ 8 $ 6 Foreign exchange gains 3 — — — — — — AFUDC equity 135 91 26 25 — 4 14 Post in-service equity returns 89 71 17 17 — — — Nonoperating income (expense), other 67 6 31 9 18 (2 ) 2 Other income and expense, net $ 351 $ 172 $ 77 $ 51 $ 20 $ 10 $ 22 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Interest income $ 26 $ 1 $ 7 $ 1 $ 3 $ 5 $ 6 Foreign exchange losses (18 ) — — — — — — AFUDC equity 157 91 50 42 8 1 15 Post in-service equity returns 39 32 7 7 — — — Nonoperating income (expense), other 58 (4 ) 30 7 19 (4 ) (3 ) Other income and expense, net $ 262 $ 120 $ 94 $ 57 $ 30 $ 2 $ 18 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS For information on subsequent events related to significant accounting policies, acquisitions and dispositions, business segments, regulatory matters, commitments and contingencies, debt and credit facilities, asset retirement obligations, derivatives and hedging and income taxes see Notes 1, 2, 3, 4, 5, 6, 9, 14 and 22, respectively. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) DUKE ENERGY Quarterly EPS amounts may not sum to the full-year total due to changes in the weighted average number of common shares outstanding and rounding. First Second Third Fourth (in millions, except per share data) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 6,065 $ 5,589 $ 6,483 $ 5,322 $ 23,459 Operating income 1,456 1,246 1,688 977 5,367 Income from continuing operations 776 604 940 491 2,811 Income (loss) from discontinued operations, net of tax 91 (57 ) (5 ) (9 ) 20 Net income 867 547 935 482 2,831 Net income attributable to Duke Energy Corporation 864 543 932 477 2,816 Earnings per share: Income from continuing operations attributable to Duke Energy Corporation common stockholders Basic $ 1.09 $ 0.87 $ 1.36 $ 0.70 $ 4.02 Diluted $ 1.09 $ 0.87 $ 1.36 $ 0.70 $ 4.02 Income (loss) from discontinued operations attributable to Duke Energy Corporation common stockholders Basic $ 0.13 $ (0.09 ) $ (0.01 ) $ (0.01 ) $ 0.03 Diluted $ 0.13 $ (0.09 ) $ (0.01 ) $ (0.01 ) $ 0.03 Net income attributable to Duke Energy Corporation common stockholders Basic $ 1.22 $ 0.78 $ 1.35 $ 0.69 $ 4.05 Diluted $ 1.22 $ 0.78 $ 1.35 $ 0.69 $ 4.05 2014 Operating revenues $ 6,263 $ 5,708 $ 6,395 $ 5,559 $ 23,925 Operating income 1,362 1,289 1,619 988 5,258 Income from continuing operations 750 726 891 98 2,465 (Loss) Income from discontinued operations, net of tax (843 ) (113 ) 378 2 (576 ) Net (loss) income (93 ) 613 1,269 100 1,889 Net (loss) income attributable to Duke Energy Corporation (97 ) 609 1,274 97 1,883 Earnings per share: Income from continuing operations attributable to Duke Energy Corporation common stockholders Basic $ 1.05 $ 1.02 $ 1.25 $ 0.14 $ 3.46 Diluted $ 1.05 $ 1.02 $ 1.25 $ 0.14 $ 3.46 (Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders Basic $ (1.19 ) $ (0.16 ) $ 0.55 $ — $ (0.80 ) Diluted $ (1.19 ) $ (0.16 ) $ 0.55 $ — $ (0.80 ) Net (loss) income attributable to Duke Energy Corporation common stockholders Basic $ (0.14 ) $ 0.86 $ 1.80 $ 0.14 $ 2.66 Diluted $ (0.14 ) $ 0.86 $ 1.80 $ 0.14 $ 2.66 The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (21 ) $ (22 ) $ (24 ) $ (30 ) $ (97 ) Edwardsport Settlement (see Note 4) — — (90 ) (3 ) (93 ) Ash Basin Settlement and Penalties (see Note 5) — — (7 ) (7 ) (14 ) State Tax Adjustment related to Midwest Generation Sale — (41 ) — — (41 ) Cost Savings Initiatives (see Note 19) — — — (142 ) (142 ) Total $ (21 ) $ (63 ) $ (121 ) $ (182 ) $ (387 ) 2014 Costs to Achieve, Mergers $ (55 ) $ (61 ) $ (56 ) $ (33 ) $ (205 ) Midwest Generation Impairment (1,287 ) — 477 (39 ) (849 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (102 ) (102 ) International Tax Adjustment (see Note 22) — — — (373 ) (373 ) Asset Impairment (94 ) — — — (94 ) Total $ (1,436 ) $ (61 ) $ 421 $ (547 ) $ (1,623 ) DUKE ENERGY CAROLINAS First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 1,901 $ 1,707 $ 2,061 $ 1,560 $ 7,229 Operating income 515 483 666 296 1,960 Net income 292 265 383 141 1,081 2014 Operating revenues $ 2,000 $ 1,755 $ 1,938 $ 1,658 $ 7,351 Operating income 509 438 630 318 1,895 Net income 286 270 377 139 1,072 The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (9 ) $ (11 ) $ (11 ) $ (16 ) $ (47 ) Ash Basin Settlement and Penalties (see Note 5) — — (1 ) (7 ) (8 ) Cost Savings Initiatives (see Note 19) — — — (93 ) (93 ) Total $ (9 ) $ (11 ) $ (12 ) $ (116 ) $ (148 ) 2014 Costs to Achieve, Mergers $ (29 ) $ (38 ) $ (25 ) $ (17 ) $ (109 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (72 ) (72 ) Total $ (29 ) $ (38 ) $ (25 ) $ (89 ) $ (181 ) PROGRESS ENERGY First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 2,536 $ 2,476 $ 2,929 $ 2,336 $ 10,277 Operating income 549 504 756 351 2,160 Income from continuing operations 264 217 452 132 1,065 Net income 263 217 451 131 1,062 Net income attributable to Parent 260 215 448 128 1,051 2014 Operating revenues $ 2,541 $ 2,421 $ 2,863 $ 2,341 $ 10,166 Operating income 477 488 665 388 2,018 Income from continuing operations 204 207 330 139 880 Net income 203 202 330 139 874 Net income attributable to Parent 202 202 329 136 869 The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (8 ) $ (8 ) $ (8 ) $ (10 ) $ (34 ) Ash Basin Settlement and Penalties (see Note 5) — — (6 ) — (6 ) Cost Savings Initiatives (see Note 19) — — — (36 ) (36 ) Total $ (8 ) $ (8 ) $ (14 ) $ (46 ) $ (76 ) 2014 Costs to Achieve, Mergers $ (19 ) $ (12 ) $ (21 ) $ (13 ) $ (65 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (30 ) (30 ) Total $ (19 ) $ (12 ) $ (21 ) $ (43 ) $ (95 ) DUKE ENERGY PROGRESS First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 1,449 $ 1,193 $ 1,488 $ 1,160 $ 5,290 Operating income 316 184 394 130 1,024 Net income 183 85 229 69 566 2014 Operating revenues $ 1,422 $ 1,191 $ 1,367 $ 1,196 $ 5,176 Operating income 258 212 285 180 935 Net income 133 101 157 76 467 The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (5 ) $ (5 ) $ (6 ) $ (6 ) $ (22 ) Ash Basin Settlement and Penalties (see Note 5) — — (6 ) — (6 ) Cost Savings Initiatives (see Note 19) — — — (28 ) (28 ) Total $ (5 ) $ (5 ) $ (12 ) $ (34 ) $ (56 ) 2014 Costs to Achieve, Mergers $ (14 ) $ (3 ) $ (15 ) $ (10 ) $ (42 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (30 ) (30 ) Total $ (14 ) $ (3 ) $ (15 ) $ (40 ) $ (72 ) DUKE ENERGY FLORIDA First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 1,086 $ 1,281 $ 1,436 $ 1,174 $ 4,977 Operating income 227 315 357 216 1,115 Net income 113 165 216 105 599 2014 Operating revenues $ 1,116 $ 1,225 $ 1,491 $ 1,143 $ 4,975 Operating income 219 276 378 205 1,078 Net income 108 142 205 93 548 The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (3 ) $ (3 ) $ (3 ) $ (4 ) $ (13 ) Cost Savings Initiatives (see Note 19) — — — (8 ) (8 ) Total $ (3 ) $ (3 ) $ (3 ) $ (12 ) $ (21 ) 2014 Costs to Achieve, Mergers $ (5 ) $ (9 ) $ (6 ) $ (3 ) $ (23 ) DUKE ENERGY OHIO First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 586 $ 405 $ 462 $ 452 $ 1,905 Operating income 111 43 76 73 303 Income (loss) from discontinued operations, net of tax 90 (65 ) (2 ) — 23 Net income (loss) 149 (52 ) 32 43 172 2014 Operating revenues $ 575 $ 412 $ 446 $ 480 $ 1,913 Operating (loss) income (7 ) 60 58 76 187 (Loss) Income from discontinued operations, net of tax (875 ) (135 ) 413 34 (563 ) Net (loss) income (890 ) (107 ) 439 63 (495 ) The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (1 ) $ (1 ) $ (1 ) $ (1 ) $ (4 ) Cost Savings Initiatives (see Note 19) — — — (2 ) (2 ) Total $ (1 ) $ (1 ) $ (1 ) $ (3 ) $ (6 ) 2014 Costs to Achieve, Mergers $ (2 ) $ (4 ) $ (3 ) $ (2 ) $ (11 ) Midwest Generation Impairment (1,318 ) — 477 (39 ) (880 ) Asset Impairment (94 ) — — — (94 ) Total $ (1,414 ) $ (4 ) $ 474 $ (41 ) $ (985 ) DUKE ENERGY INDIANA First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 788 $ 686 $ 749 $ 667 $ 2,890 Operating income 210 146 117 171 644 Net income 108 68 46 94 316 2014 Operating revenues $ 845 $ 748 $ 790 $ 792 $ 3,175 Operating income 215 178 182 130 705 Net income 113 87 101 58 359 The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (2 ) $ (1 ) $ (2 ) $ (2 ) $ (7 ) Edwardsport Settlement (see Note 4) — — (90 ) (3 ) (93 ) Cost Savings Initiatives (see Note 19) — — — (6 ) (6 ) Total $ (2 ) $ (1 ) $ (92 ) $ (11 ) $ (106 ) 2014 Costs to Achieve, Mergers $ (2 ) $ (5 ) $ (3 ) $ (2 ) $ (12 ) |
Summary of Significant Accoun34
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2015 | |
Policy Text Block [Line Items] | |
Nature of Operations and Basis of Consolidation | Nature of Operations and Basis of Consolidation Duke Energy Corporation (collectively with its subsidiaries, Duke Energy) is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the Federal Energy Regulatory Commission (FERC). Duke Energy operates in the United States (U.S.) and Latin America primarily through its direct and indirect subsidiaries. Duke Energy’s subsidiaries include its subsidiary registrants, Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc. (Progress Energy); Duke Energy Progress, LLC (formerly Duke Energy Progress, Inc.) (Duke Energy Progress); Duke Energy Florida, LLC (formerly Duke Energy Florida, Inc.) (Duke Energy Florida); Duke Energy Ohio, Inc. (Duke Energy Ohio) and Duke Energy Indiana, Inc. (subsequently Duke Energy Indiana, LLC) (Duke Energy Indiana). When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its six separate subsidiary registrants (collectively referred to as the Subsidiary Registrants), which, along with Duke Energy, are collectively referred to as the Duke Energy Registrants (Duke Energy Registrants). The information in these combined notes relate to each of the Duke Energy Registrants as noted in the Index to the Combined Notes to Consolidated Financial Statements. However, none of the registrants makes any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself. These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries where the respective Duke Energy Registrants have control. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the North Carolina Utilities Commission (NCUC), Public Service Commission of South Carolina (PSCSC), U.S. Nuclear Regulatory Commission (NRC) and FERC. Substantially all of Duke Energy Carolinas’ operations qualify for regulatory accounting. Progress Energy is a public utility holding company headquartered in Raleigh, North Carolina, subject to regulation by the FERC. Progress Energy conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Substantially all of Progress Energy’s operations qualify for regulatory accounting. Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC. Substantially all of Duke Energy Progress’ operations qualify for regulatory accounting. On August 1, 2015, Duke Energy Progress, a North Carolina corporation, converted into a North Carolina limited liability company. Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the Florida Public Service Commission (FPSC), NRC and FERC. Substantially all of Duke Energy Florida’s operations qualify for regulatory accounting. On August 1, 2015, Duke Energy Florida, a Florida corporation, converted into a Florida limited liability company. Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in portions of Ohio and Kentucky, the generation and sale of electricity in portions of Kentucky and the transportation and sale of natural gas in portions of Ohio and Kentucky. Duke Energy Ohio also conducts competitive auctions for retail electricity supply in Ohio whereby recovery of the energy price is from retail customers and recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky, Inc. (Duke Energy Kentucky). References herein to Duke Energy Ohio include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the Public Utilities Commission of Ohio (PUCO), Kentucky Public Service Commission (KPSC) and FERC. On April 2, 2015, Duke Energy completed the sale of its nonregulated Midwest generation business, which sold power into wholesale energy markets, to a subsidiary of Dynegy Inc. (Dynegy). For further information about the sale of the Midwest Generation business, refer to Note 2 "Acquisitions and Dispositions." Substantially all of Duke Energy Ohio's operations that remain after the sale qualify for regulatory accounting. Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the Indiana Utility Regulatory Commission (IURC) and FERC. Substantially all of Duke Energy Indiana’s operations qualify for regulatory accounting. On January 1, 2016, Duke Energy Indiana, an Indiana corporation, converted into an Indiana limited liability company. Certain prior year amounts have been reclassified to conform to the current year presentation. |
Use of Estimates | Use of Estimates In preparing financial statements that conform to generally accepted accounting principles (GAAP) in the U.S., the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. |
Regulatory Accounting | Regulatory Accounting The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, Regulatory assets and Regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. See Note 4 for further information. Regulatory accounting rules also require recognition of a disallowance (also called "impairment") loss if it becomes probable that part of the cost of a plant under construction (or a recently completed plant or an abandoned plant) will be disallowed for ratemaking purposes and a reasonable estimate of the amount of the disallowance can be made. Other disallowances can require judgments on allowed future rate recovery. When it becomes probable that regulated generation, transmission or distribution assets will be abandoned, the cost of the asset is removed from plant in service. The value that may be retained as a regulatory asset on the balance sheet for the abandoned property is dependent upon amounts that may be recovered through regulated rates, including any return. As such, an impairment charge could be offset by the establishment of a regulatory asset if rate recovery is probable. The impairment for a disallowance of costs for regulated plants under construction, recently completed or abandoned is based on discounted cash flows. |
Regulated Fuel Costs and Purchased Power | Regulated Fuel Costs and Purchased Power The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses. These clauses allow for the recovery of fuel and fuel-related costs and portions of purchased power costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded either as an adjustment to Operating Revenues – Regulated electric or Operating Expenses – Fuel used in electric generation on the Consolidated Statements of Operations with an off-setting impact on regulatory assets or liabilities. |
Cash and Cash Equivalents | Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. At December 31, 2015 , $534 million of Duke Energy’s total cash and cash equivalents is held by entities domiciled in foreign jurisdictions. During the fourth quarter of 2014, Duke Energy declared a taxable dividend of historical foreign earnings in the form of notes payable that will result in the repatriation of approximately $2.7 billion in cash held and expected to be generated by International Energy over a period of up to eight years . Approximately $1.5 billion was remitted in 2015. See Note 22 to the Consolidated Financial Statements, “Income Taxes,” for additional information. |
Restricted Cash | Restricted Cash The Duke Energy Registrants have restricted cash related primarily to collateral assets, escrow deposits and variable interest entities (VIEs). Restricted cash balances are reflected in Other within Current Assets and in Other within Investments and Other Assets on the Consolidated Balance Sheets. At December 31, 2015 and 2014 , Duke Energy had restricted cash totaling $108 million and $298 million , respectively. |
Inventory | Inventory Inventory is used for operations and is recorded primarily using the average cost method. Inventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Materials and supplies are recorded as inventory when purchased and subsequently charged to expense or capitalized to property, plant and equipment when installed. Reserves are established for excess and obsolete inventory. Inventory reserves were not material at December 31, 2015 and 2014. The components of inventory are presented in the tables below. |
Investments in Debt and Equity Securities | Investments in Debt and Equity Securities The Duke Energy Registrants classify investments into two categories – trading and available-for-sale. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on trading securities are included in earnings. For certain investments of regulated operations such as the Nuclear Decommissioning Trust Fund (NDTF), realized and unrealized gains and losses (including any other-than-temporary impairments) on available-for-sale securities are recorded as a regulatory asset or liability. Otherwise, unrealized gains and losses are included in Accumulated Other Comprehensive Income (AOCI), unless other-than-temporarily impaired. Other-than-temporary impairments for equity securities and the credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity. See Note 15 for further information. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Duke Energy, Progress Energy and Duke Energy Ohio perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be an operating segment or one level below. Duke Energy, Progress Energy and Duke Energy Ohio update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. Intangible Assets Intangible assets are included in Other in Investments and Other Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed, or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization on the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced. Emission allowances permit the holder of the allowance to emit certain gaseous byproducts of fossil fuel combustion, including sulfur dioxide (SO 2 ) and nitrogen oxide (NO X ). Allowances are issued by the U.S. Environmental Protection Agency (EPA) at zero cost and may also be bought and sold via third-party transactions. Allowances allocated to or acquired by the Duke Energy Registrants are held primarily for consumption. Carrying amounts for emission allowances are based on the cost to acquire the allowances or, in the case of a business combination, on the fair value assigned in the allocation of the purchase price of the acquired business. Emission allowances are expensed to Fuel used in electric generation and purchased power – regulated on the Consolidated Statements of Operations. Renewable energy certificates are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 11 for further information. |
Long-Lived Asset Impairments | Long-Lived Asset Impairments The Duke Energy Registrants evaluate long-lived assets, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written-down to its then-current estimated fair value and an impairment charge is recognized. The Duke Energy Registrants assess fair value of long-lived assets using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisers. Significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset are generally viewed as triggering events to reassess cash flows. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized” for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows. In general, when the Duke Energy Registrants retire regulated property, plant and equipment, original cost plus the cost of retirement, less salvage value, is charged to accumulated depreciation. However, when it becomes probable a regulated asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Generation facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory Assets on the Consolidated Balance Sheets. The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate. When the Duke Energy Registrants sell entire regulated operating units, or retire or sell nonregulated properties, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. See Note 10 for further information. |
Nuclear Fuel | Nuclear Fuel Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets, except for Duke Energy Florida. Refer to Note 4, “Regulatory Matters,” for additional information on Crystal River Unit 3 investments, including nuclear fuel. Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power – regulated in the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method. |
Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized | Allowance for Funds Used During Construction and Interest Capitalized For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets. AFUDC equity, a permanent difference for income taxes, reduces the effective tax rate when capitalized and increases the effective tax rate when depreciated or amortized. See Note 22 for additional information. For nonregulated operations, interest is capitalized during the construction phase with an offsetting non-cash credit to Interest Expense on the Consolidated Statements of Operations. |
Asset Retirement Obligations | Asset Retirement Obligations Asset retirement obligations are recognized for legal obligations associated with the retirement of property, plant and equipment. Substantially all asset retirement obligations are related to regulated operations. When recording an asset retirement obligation, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset. The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the asset retirement obligation for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are all deferred as a regulatory asset or liability. Obligations for nuclear decommissioning are based on-site-specific cost studies. Duke Energy Carolinas and Duke Energy Progress assume prompt dismantlement of the nuclear facilities after operations are ceased. Duke Energy Florida assumes Crystal River Unit 3 will be placed into a safe storage configuration until eventual dismantlement is completed by 2074. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida also assume that spent fuel will be stored on-site until such time that it can be transferred to a U.S. Department of Energy (DOE) facility. Obligations for closure of ash basins are based upon discounted cash flows of estimated costs for site specific plans, if known, or probability weightings of the potential closure methods if the closure plans are under development and multiple closure options are being considered and evaluated on a site-by-site basis. See Note 9 for additional information |
Revenue Recognition and Unbilled Revenue | Revenue Recognition and Unbilled Revenue Revenues on sales of electricity and gas are recognized when service is provided or the product is delivered. Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy delivered but not yet billed. Unbilled revenues can vary significantly from period to period as a result of seasonality, weather, customer usage patterns, customer mix, average price in effect for customer classes, timing of rendering customer bills and meter reading schedules. Unbilled revenues are included within Receivables and Restricted receivables of variable interest entities on the Consolidated Balance Sheets |
Derivatives and Hedging | Derivatives and Hedging Derivative and non-derivative instruments may be used in connection with commodity price, interest rate and foreign currency risk management activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the normal purchase/normal sale (NPNS) exception, are recorded on the Consolidated Balance Sheets at fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact. Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items. See Note 14 for further information. |
Captive Insurance Reserves | Captive Insurance Reserves Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for various business risks and losses, such as property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not yet reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience. Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable. |
Unamortized Debt Premium, Discount and Expense | Unamortized Debt Premium, Discount and Expense Premiums, discounts and expenses incurred with the issuance of outstanding long-term debt are amortized over the term of the debt issue. Call premiums and unamortized expenses associated with refinancing higher-cost debt obligations in the regulated operations are amortized. Amortization expense is recorded as Interest Expense in the Consolidated Statements of Operations and is reflected as Depreciation, amortization and accretion within Net cash provided by operating activities on the Consolidated Statements of Cash Flows. During 2015, Duke Energy retrospectively adopted revised accounting guidance related to the presentation of debt issuance costs. Unamortized debt issuance cost are presented as a reduction of the debt amount and included in Long-Term Debt on the Consolidated Balance Sheets presented. See discussion of New Accounting Standards below for further information. |
Loss Contingencies and Environmental Liabilities | Loss Contingencies and Environmental Liabilities Contingent losses are recorded when it is probable a loss has occurred and can be reasonably estimated. When a range of the probable loss exists and no amount within the range is a better estimate than any other amount, the minimum amount in the range is recorded. Unless otherwise required by GAAP, legal fees are expensed as incurred. Environmental liabilities are recorded on an undiscounted basis when environmental remediation or other liabilities become probable and can be reasonably estimated. Environmental expenditures related to past operations that do not generate current or future revenues are expensed. Environmental expenditures related to operations that generate current or future revenues are expensed or capitalized, as appropriate. Certain environmental expenditures receive regulatory accounting treatment and are recorded as regulatory assets. See Notes 4 and 5 for further information. |
Pension and Other Post-Retirement Benefit Plans | Pension and Other Post-Retirement Benefit Plans Duke Energy maintains qualified, non-qualified and other post-retirement benefit plans. Eligible employees of the Subsidiary Registrants participate in the respective qualified, non-qualified and other post-retirement benefit plans and the Subsidiary Registrants are allocated their proportionate share of benefit costs. See Note 21 for further information, including significant accounting policies associated with these plans. |
Severance and Special Termination Benefits | Severance and Special Termination Benefits Duke Energy has a severance plan under which, in general, the longer a terminated employee worked prior to termination the greater the amount of severance benefits. A liability for involuntary severance is recorded once an involuntary severance plan is committed to by management if involuntary severances are probable and can be reasonably estimated. For involuntary severance benefits incremental to its ongoing severance plan benefits, the fair value of the obligation is expensed at the communication date if there are no future service requirements, or over the required future service period. From time to time, Duke Energy offers special termination benefits under voluntary severance programs. Special termination benefits are recorded immediately upon employee acceptance absent a significant retention period. Otherwise, the cost is recorded over the remaining service period. Employee acceptance of voluntary severance benefits is determined by management based on the facts and circumstances of the benefits being offered. See Note 19 for further information. |
Guarantees | Guarantees Liabilities are recognized at the time of issuance or material modification of a guarantee for the estimated fair value of the obligation it assumes. Fair value is estimated using a probability-weighted approach. The obligation is reduced over the term of the guarantee or related contract in a systematic and rational method as risk is reduced. Any additional contingent loss for guarantee contracts subsequent to the initial recognition of a liability is accounted for and recognized at the time a loss is probable and can be reasonably estimated. See Note 7 for further information. |
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation represents costs related to stock-based awards granted to employees and Duke Energy Board of Directors (Board of Directors) members. Duke Energy recognizes stock-based compensation based upon the estimated fair value of awards, net of estimated forfeitures at the date of issuance. The recognition period for these costs begins at either the applicable service inception date or grant date and continues throughout the requisite service period, or, for certain share-based awards, until the employee becomes retirement eligible, if earlier. Compensation cost is recognized as expense or capitalized as a component of property, plant and equipment. See Note 20 for further information. |
Income Taxes | Income Taxes Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and foreign jurisdictional returns. The Subsidiary Registrants entered into a tax-sharing agreement with Duke Energy. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. Deferred income taxes have been provided for temporary differences between GAAP and tax bases of assets and liabilities because the differences create taxable or tax-deductible amounts for future periods. Deferred taxes are not provided on translation gains and losses when earnings of a foreign operation are expected to be indefinitely reinvested. Investment tax credits (ITC) associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties. Positions taken or expected to be taken on tax returns, including the decision to exclude certain income or transactions from a return, are recognized in the financial statements when it is more likely than not the tax position can be sustained based solely on the technical merits of the position. The largest amount of tax benefit that is greater than 50 percent likely of being effectively settled is recorded. Management considers a tax position effectively settled when: (i) the taxing authority has completed its examination procedures, including all appeals and administrative reviews; (ii) the Duke Energy Registrants do not intend to appeal or litigate the tax position included in the completed examination; and (iii) it is remote the taxing authority would examine or re-examine the tax position. The amount of a tax return position that is not recognized in the financial statements is disclosed as an unrecognized tax benefit. If these unrecognized tax benefits are later recognized, then there will be a decrease in income taxes payable, an income tax refund or a reclassification between deferred and current taxes payable. If the portion of tax benefits that has been recognized changes and those tax benefits are subsequently unrecognized, then the previously recognized tax benefits may impact the financial statements through increasing income taxes payable, reducing income tax refunds receivable or changing deferred taxes. Changes in assumptions on tax benefits may also impact interest expense or interest income and may result in the recognition of tax penalties. Tax-related interest and penalties are recorded in Interest Expense and Other Income and Expenses, net, in the Consolidated Statements of Operations. See Note 22 for further information. |
Accounting for Renewable Energy Tax Credits and Cash Grants | Accounting for Renewable Energy Tax Credits and Cash Grants When Duke Energy receives ITC or cash grants on wind or solar facilities, it reduces the basis of the property recorded on the Consolidated Balance Sheets by the amount of the ITC or cash grant and, therefore, the ITC or grant benefit is recognized through reduced depreciation expense. Additionally, certain tax credits and government grants result in an initial tax depreciable base in excess of the book carrying value by an amount equal to one half of the ITC or government grant. Deferred tax benefits are recorded as a reduction to income tax expense in the period that the basis difference is created. |
Excise Taxes | Excise Taxes Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis. Otherwise, the taxes are accounted for net. Excise taxes accounted for on a gross basis as both operating revenues and property and other taxes in the Consolidated Statements of Operations were as follows. |
Foreign Currency Transaction | Foreign Currency Translation The local currencies of most of Duke Energy’s foreign operations have been determined to be their functional currencies. However, certain foreign operations’ functional currency has been determined to be the U.S. dollar, based on an assessment of the economic circumstances of the foreign operation . Assets and liabilities of foreign operations whose functional currency is not the U.S. dollar are translated into U.S. dollars at the exchange rates in effect at period end. Translation adjustments resulting from changes in exchange rates are included in AOCI. Revenue and expense accounts are translated at average exchange rates during the year. Remeasurement gains and losses arising from balances and transactions denominated in currencies other than the local currency are included in the results of operations when they occur. |
Dividend Restrictions and Unappropriated Retained Earnings | Dividend Restrictions and Unappropriated Retained Earnings Duke Energy does not have any legal, regulatory or other restrictions on paying common stock dividends to shareholders. However, as further described in Note 4 , due to conditions established by regulators in conjunction with merger transaction approvals, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana have restrictions on paying dividends or otherwise advancing funds to Duke Energy. At December 31, 2015 and 2014 , an insignificant amount of Duke Energy’s consolidated Retained earnings balance represents undistributed earnings of equity method investments. |
New Accounting Standards | New Accounting Standards The new accounting standards that were adopted for 2015 , 2014 and 2013 had no material impact on the presentation or results of operations, cash flows or financial position of the Duke Energy Registrants. The following accounting standards were adopted by the Duke Energy Registrants during 2015. Reporting Discontinued Operations. In April 2014, the Financial Accounting Standards Board (FASB) issued revised accounting guidance for reporting discontinued operations. A discontinued operation would be either (i) a component of an entity or a group of components of an entity that represents a separate major line of business or major geographical area of operations that either has been disposed of or is part of a single coordinated plan to be classified as held for sale or (ii) a business that, upon acquisition, meets the criteria to be classified as held for sale. For Duke Energy, the revised accounting guidance is effective on a prospective basis for qualified disposals of components or classifications as held for sale that occurred after January 1, 2015. Under the standard, the guidance is not effective for a component classified as held for sale before the effective date even if the disposal occurs after the effective date of the guidance. Duke Energy has not reported any discontinued operations under the revised accounting guidance. Balance Sheet Classification of Deferred Taxes. In November 2015, the FASB issued revised accounting guidance for the Balance Sheet classification of deferred taxes. The core principle of this revised accounting guidance is that all deferred tax assets and liabilities should be classified as noncurrent. For Duke Energy, this revised accounting guidance was adopted prospectively for December 31, 2015. The Balance Sheet as of December 31, 2014, does not reflect this reclassification of current deferred tax assets and liabilities. See Note 22 for further information on the impact from adoption of this accounting standard. Balance Sheet Presentation of Debt Issuance Costs. In April and August 2015, the FASB issued revised accounting guidance for the presentation of debt issuance costs. The core principle of this revised accounting guidance is that debt issuance costs are not assets, but adjustments to the carrying cost of debt. For Duke Energy, this revised accounting guidance was adopted retrospectively to December 31, 2014. The implementation of this accounting standard resulted in a reduction of Other within Regulatory Assets and Deferred Debits and in Long-Term Debt of $170 million and $152 million on the Consolidated Balance Sheets as of December 31, 2015 and 2014, respectively. Fair Value Disclosures for Certain Investments. In May 2015, the FASB issued revised accounting guidance for investments in certain entities that use net asset value per share (or its equivalent) as a ‘practical expedient’ to determine fair value. The core principle of this revised accounting guidance is that the valuation of investments using the ‘practical expedient’ should not be categorized within the fair value hierarchy (i.e., as Level 1, 2 or 3). The ‘practical expedient’ applies to investments in investment companies for which there is not a readily determinable fair value (market quote) or the investment is not in a mutual fund with a publicly available net asset value. For Duke Energy, this revised accounting guidance was adopted retrospectively. The implementation of this guidance is reflected in Note 16 : Fair Value Measurements and Note 21 : Employee Benefit Plans. The following new accounting standards have been issued, but have not yet been adopted by the Duke Energy Registrants, as of December 31, 2015 . Revenue from Contracts with Customers . In May 2014, the FASB issued revised accounting guidance for revenue recognition from contracts with customers. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this update also require disclosure of sufficient information to allow users to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. For the Duke Energy Registrants, this guidance is effective for interim and annual periods beginning January 1, 2018, although it can be early adopted for annual periods beginning as early as January 1, 2017. The guidance can be applied retroactively to all prior reporting periods presented or retrospectively with a cumulative effect as of the initial date of application. Duke Energy is currently evaluating the requirements. The ultimate impact of the new standard has not yet been determined. Financial Instruments Classification and Measurement. In January 2016, the FASB issued revised accounting guidance for the classification and measurement of financial instruments. Changes in the fair value of all equity securities will be required to be recorded in net income. Current GAAP allows some changes in fair value for available-for-sale equity securities to be recorded in AOCI. Additional disclosures will be required to present separately the financial assets and financial liabilities by measurement category and form of financial asset. An entity's equity investments that are accounted for under the equity method of accounting are not included within the scope of the new guidance. For Duke Energy, the revised accounting guidance is effective for interim and annual periods beginning January 1, 2018 by recording a cumulative effect to the balance sheet as of January 1, 2018. This guidance is expected to have minimal impact on Duke Energy’s Statement of Comprehensive Income as changes in the fair value of most of Duke Energy's available-for-sale equity securities are deferred as regulatory assets or liabilities. |
Duke Energy Ohio [Member] | |
Policy Text Block [Line Items] | |
Revenue Recognition and Unbilled Revenue | Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. |
Duke Energy Indiana [Member] | |
Policy Text Block [Line Items] | |
Revenue Recognition and Unbilled Revenue | Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. |
Summary of Significant Accoun35
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Organization And Basis Of Presentation [Line Items] | |
Schedule of Current and Noncurrent Assets and Liabilities | The following table provides detail of amounts included in Other within Current Assets or Current Liabilities on the Consolidated Balance Sheets. December 31, (in millions) Location 2015 2014 Duke Energy Accrued compensation Current Liabilities $ 621 $ 638 Duke Energy Carolinas Accrued compensation Current Liabilities $ 213 $ 216 Collateral liabilities Current Liabilities 141 128 Progress Energy Income taxes receivable Current Assets $ 129 $ 718 Customer deposits Current Liabilities 373 360 Derivative liabilities Current Liabilities 201 271 Duke Energy Progress Income taxes receivable Current Assets $ 111 $ 272 Customer deposits Current Liabilities 141 135 Accrued compensation Current Liabilities 108 116 Derivative liabilities Current Liabilities 76 108 Duke Energy Florida Income taxes receivable Current Assets $ — $ 177 Customer deposits Current Liabilities 232 225 Derivative liabilities Current Liabilities 125 163 Duke Energy Ohio Income taxes receivable Current Assets $ 59 $ 40 Other receivable Current Assets 33 39 Accrued litigation reserve Current Liabilities 80 — Collateral Liabilities Current Liabilities 48 $ 42 Duke Energy Indiana Income taxes receivable Current Assets $ — $ 98 Collateral liabilities Current Liabilities 44 43 |
Schedule of Net Income Amounts Attributable to Controlling Interests | The following table presents Net Income Attributable to Duke Energy Corporation for continuing operations and discontinued operations for the years ended December 31, 2014 and 2013. Years ended December 31, 2014 2013 Duke Progress Duke Progress (in millions) Energy Energy Energy Energy Income from Continuing Operations $ 2,465 $ 880 2,590 659 Income from Continuing Operations Attributable to Noncontrolling Interests 14 5 16 3 Income from Continuing Operations Attributable to Duke Energy Corporation $ 2,451 $ 875 $ 2,574 $ 656 (Loss) Income From Discontinued Operations, net of tax $ (576 ) $ (6 ) 86 16 Loss from Discontinued Operations Attributable to Noncontrolling Interests, net of tax (8 ) — (5 ) — (Loss) Income From Discontinued Operations Attributable to Duke Energy Corporation, net of tax $ (568 ) $ (6 ) $ 91 $ 16 Net Income $ 1,889 $ 874 $ 2,676 $ 675 Net Income Attributable to Noncontrolling Interests 6 5 11 3 Net Income Attributable to Duke Energy Corporation $ 1,883 $ 869 $ 2,665 $ 672 |
Components Of Inventory | The components of inventory are presented in the tables below. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Materials and supplies $ 2,389 $ 785 $ 1,133 $ 776 $ 357 $ 81 $ 301 Coal held for electric generation 1,114 451 370 192 178 16 267 Oil, gas and other fuel held for electric generation 307 40 248 120 128 8 2 Total inventory $ 3,810 $ 1,276 $ 1,751 $ 1,088 $ 663 $ 105 $ 570 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Materials and supplies $ 2,102 $ 719 $ 981 $ 676 $ 305 $ 67 $ 258 Coal held for electric generation 997 362 329 150 178 21 275 Oil, gas and other fuel held for electric generation 360 43 280 140 140 9 4 Total inventory $ 3,459 $ 1,124 $ 1,590 $ 966 $ 623 $ 97 $ 537 |
Schedule Of Property, Plant And Equipment | The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows. Years Ended December 31, 2015 2014 2013 Duke Energy 2.9 % 2.8 % 2.8 % Duke Energy Carolinas 2.8 % 2.7 % 2.8 % Progress Energy 2.6 % 2.5 % 2.5 % Duke Energy Progress 2.6 % 2.5 % 2.5 % Duke Energy Florida 2.7 % 2.7 % 2.4 % Duke Energy Ohio 2.7 % 2.3 % 3.3 % Duke Energy Indiana 3.0 % 3.0 % 2.8 % The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants. December 31, 2015 Estimated Useful Duke Duke Duke Duke Duke Life Duke Energy Progress Energy Energy Energy Energy (in millions) (Years) Energy Carolinas Energy Progress Florida Ohio Indiana Land $ 1,466 $ 407 $ 719 $ 392 $ 327 $ 118 $ 108 Plant – Regulated Electric generation, distribution and transmission 8 - 100 87,593 33,623 36,422 22,888 13,534 4,429 13,118 Natural gas transmission and distribution 12 - 67 2,322 — — — — 2,322 — Other buildings and improvements 15 - 100 1,480 477 621 294 322 204 179 Plant – Nonregulated Electric generation, distribution and transmission 1 - 30 3,348 — — — — — — Other buildings and improvements 5 - 50 2,363 — — — — — — Nuclear fuel 3,194 1,827 1,367 1,367 — — — Equipment 3 - 38 1,791 368 530 398 132 344 173 Construction in process 4,525 1,860 1,827 1,118 709 180 214 Other 2 - 60 4,744 836 1,180 856 319 153 215 Total property, plant and equipment (a)(d) 112,826 39,398 42,666 27,313 15,343 7,750 14,007 Total accumulated depreciation – regulated (b)(c)(d) (35,367 ) (13,521 ) (14,867 ) (10,141 ) (4,720 ) (2,507 ) (4,484 ) Total accumulated depreciation – nonregulated (c)(d) (2,298 ) — — — — — — Generation facilities to be retired, net 548 — 548 548 — — — Total net property, plant and equipment $ 75,709 $ 25,877 $ 28,347 $ 17,720 $ 10,623 $ 5,243 $ 9,523 (a) Includes capitalized leases of $1,470 million , $40 million , $302 million , $144 million , $158 million , $96 million , and $39 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily within Plant - Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $85 million , $7 million and $78 million , respectively, of accumulated amortization of capitalized leases. (b) Includes $1,621 million , $976 million , $645 million and $645 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. (c) Includes accumulated amortization of capitalized leases of $58 million , $11 million , $27 million and $7 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. (d) Includes gross property, plant and equipment cost of consolidated VIEs of $2,033 million and accumulated depreciation of consolidated VIEs of $327 million at Duke Energy. December 31, 2014 Estimated Useful Duke Duke Duke Duke Duke Life Duke Energy Progress Energy Energy Energy Energy (in millions) (Years) Energy Carolinas Energy Progress Florida Ohio Indiana Land $ 1,459 $ 403 $ 704 $ 380 $ 324 $ 114 $ 108 Plant – Regulated Electric generation, distribution and transmission 2 - 138 82,206 31,751 33,672 20,616 13,056 3,956 11,911 Natural gas transmission and distribution 12 - 67 2,230 — — — — 2,230 — Other buildings and improvements 9 - 100 1,445 465 607 286 318 200 173 Plant – Nonregulated Electric generation, distribution and transmission 1- 30 2,380 — — — — — — Other buildings and improvements 5 - 50 2,498 — — — — — — Nuclear fuel 2,865 1,676 1,190 1,190 — — — Equipment 3 - 34 1,762 341 506 388 118 330 166 Construction in process 4,519 2,081 1,215 908 307 97 481 Other 5 - 80 3,497 655 756 439 310 214 195 Total property, plant and equipment (a)(d) 104,861 37,372 38,650 24,207 14,433 7,141 13,034 Total accumulated depreciation – regulated (b)(c)(d) (32,628 ) (12,700 ) (13,506 ) (9,021 ) (4,478 ) (2,213 ) (4,219 ) Total accumulated depreciation – nonregulated (c)(d) (2,196 ) — — — — — — Generation facilities to be retired, net 9 — — — — 9 — Total net property, plant and equipment $ 70,046 $ 24,672 $ 25,144 $ 15,186 $ 9,955 $ 4,937 $ 8,815 (a) Includes capitalized leases of $1,548 million , $40 million , $315 million , $146 million , $169 million , $98 million , and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $72 million , $5 million and $67 million , respectively, of accumulated amortization of capitalized leases. (b) Includes $1,408 million , $847 million , $561 million and $561 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. (c) Includes accumulated amortization of capitalized leases of $52 million , $8 million , $25 million and $6 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. (d) Includes gross property, plant and equipment cost of consolidated VIEs of $1,873 million and accumulated depreciation of consolidated VIEs of $257 million at Duke Energy. |
Schedule of Allowance for Doubtful Accounts | Allowances for doubtful accounts are presented in the following table. December 31, (in millions) 2015 2014 2013 Allowance for Doubtful Accounts Duke Energy $ 18 17 30 Duke Energy Carolinas 3 3 3 Progress Energy 6 8 14 Duke Energy Progress 4 7 10 Duke Energy Florida 2 2 4 Duke Energy Ohio 2 2 2 Duke Energy Indiana 1 1 1 Allowance for Doubtful Accounts – VIEs Duke Energy $ 53 51 43 Duke Energy Carolinas 7 6 6 Progress Energy 8 8 — Duke Energy Progress 5 5 — Duke Energy Florida 3 3 — |
Schedule of Excise Taxes | Excise taxes accounted for on a gross basis as both operating revenues and property and other taxes in the Consolidated Statements of Operations were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy $ 396 $ 498 $ 602 Duke Energy Carolinas 31 94 164 Progress Energy 229 263 304 Duke Energy Progress 16 56 115 Duke Energy Florida 213 207 189 Duke Energy Ohio 102 103 105 Duke Energy Indiana 34 38 29 |
Unbilled Revenues [Member] | |
Organization And Basis Of Presentation [Line Items] | |
Schedule Of Unbilled Revenues Within Receivables and Restricted Receivables | Unbilled revenues are included within Receivables and Restricted receivables of variable interest entities on the Consolidated Balance Sheets as shown in the following table. This table excludes amounts included in assets held for sale (AHFS) at December 31, 2014. December 31, (in millions) 2015 2014 Duke Energy $ 748 $ 827 Duke Energy Carolinas 283 295 Progress Energy 172 217 Duke Energy Progress 102 135 Duke Energy Florida 70 82 Duke Energy Ohio 3 — Duke Energy Indiana 31 27 Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. These receivables for unbilled revenues are shown in the table below. December 31, (in millions) 2015 2014 Duke Energy Ohio $ 71 $ 79 Duke Energy Indiana 97 112 |
Acquisitions and Dispositions (
Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Schedule of purchase price allocation | The ownership interests in generating assets acquired are subject to rate-setting authority of the FERC, NCUC and PSCSC and accordingly, the assets are recorded at historical cost. The assets acquired are presented in the following table. (in millions) Inventory $ 56 Net property, plant and equipment 845 Total assets 901 Acquisition adjustment, recorded within property, plant and equipment 350 Total purchase price $ 1,251 |
Generation Facilities of Disposal Group | The following table presents information at the time of the sale related to the Duke Energy Ohio generation plants included in the Disposal Group. Total MW Owned MW Ownership Facility Plant Type Primary Fuel Location Capacity (d) Capacity (d) Interest Stuart (a)(c) Fossil Steam Coal OH 2,308 900 39 % Zimmer (a) Fossil Steam Coal OH 1,300 605 46.5 % Hanging Rock Combined Cycle Gas OH 1,226 1,226 100 % Miami Fort (Units 7 and 8) (b) Fossil Steam Coal OH 1,020 652 64 % Conesville (a)(c) Fossil Steam Coal OH 780 312 40 % Washington Combined Cycle Gas OH 617 617 100 % Fayette Combined Cycle Gas PA 614 614 100 % Killen (b)(c) Fossil Steam Coal OH 600 198 33 % Lee Combustion Turbine Gas IL 568 568 100 % Dick's Creek Combustion Turbine Gas OH 136 136 100 % Miami Fort Combustion Turbine Oil OH 56 56 100 % Total Midwest Generation 9,225 5,884 (a) Jointly owned with American Electric Power Generation Resources and The Dayton Power and Light Company. (b) Jointly owned with The Dayton Power and Light Company. (c) Not operated by Duke Energy Ohio. (d) Total MW capacity is based on summer capacity. |
Income Statement Disclosures | The following table presents the results of discontinued operations. Duke Energy Years Ended December 31, (in millions) 2015 2014 2013 Operating Revenues $ 543 $ 1,748 $ 1,885 Loss on disposition (a) (45 ) (929 ) — Income (loss) before income taxes (b) $ 59 $ (818 ) $ 141 Income tax expense (benefit) 26 (294 ) 56 Income (loss) from discontinued operations of the Disposal Group 33 (524 ) 85 Other, net of tax (c) (13 ) (52 ) 1 Income (Loss) From Discontinued Operations, net of tax $ 20 $ (576 ) $ 86 (a) The Loss on disposition includes impairments recorded to adjust the carrying amount of the assets to the estimated fair value of the business, based on the selling price to Dynegy less cost to sell. (b) The Income (loss) before income taxes includes the pretax impact of an $81 million charge for the settlement agreement reached in a lawsuit related to the Disposal Group for the year ended December 31, 2015. Refer to Note 5 for further information related to the lawsuit. (c) Relates to discontinued operations of businesses not related to the Disposal Group. Amounts include indemnifications provided for certain legal, tax and environmental matters, and foreign currency translation adjustments. Duke Energy Ohio Years Ended December 31, (in millions) 2015 2014 2013 Operating Revenues $ 412 $ 1,299 $ 1,503 Loss on disposition (a) (52 ) (959 ) — Income (loss) before income taxes (b) $ 44 $ (863 ) $ 67 Income tax expense (benefit) 21 (300 ) 32 Income (Loss) From Discontinued Operations, net of tax $ 23 $ (563 ) $ 35 (a) The Loss on disposition includes impairments recorded to adjust the carrying amount of the assets to the estimated fair value of the business, based on the selling price to Dynegy less cost to sell. (b) The Income (loss) before income taxes includes the pretax impact of an $81 million charge for the settlement agreement reached in a lawsuit related to the Disposal Group for the year ended December 31, 2015, respectively. Refer to Note 5 for further information related to the lawsuit. |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |
Business Segment Data | The following table summarizes the net loss for Other for each of these entities. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas $ (95 ) $ (79 ) $ (97 ) Progress Energy (159 ) (190 ) (241 ) Duke Energy Progress (32 ) (31 ) (46 ) Duke Energy Florida (16 ) (19 ) (24 ) Duke Energy Indiana (10 ) (11 ) (16 ) Year Ended December 31, 2015 Total Regulated International Commercial Reportable (in millions) Utilities Energy Portfolio Segments Other Eliminations Total Unaffiliated Revenues $ 22,024 $ 1,088 $ 301 $ 23,413 $ 46 $ — $ 23,459 Intersegment Revenues 38 — — 38 77 (115 ) — Total Revenues $ 22,062 $ 1,088 $ 301 $ 23,451 $ 123 $ (115 ) $ 23,459 Interest Expense $ 1,097 $ 85 $ 44 $ 1,226 $ 393 $ (6 ) $ 1,613 Depreciation and amortization 2,814 92 104 3,010 134 — 3,144 Equity in earnings of unconsolidated affiliates (4 ) 74 (3 ) 67 2 — 69 Income tax expense (benefit) 1,647 74 (92 ) 1,629 (303 ) — 1,326 Segment income (loss) (a)(b)(c)(d) 2,893 225 4 3,122 (322 ) (4 ) 2,796 Add back noncontrolling interest component 15 Income from discontinued operations, net of tax (e) 20 Net income $ 2,831 Capital investments expenditures and acquisitions $ 6,974 $ 45 $ 1,131 $ 8,150 $ 213 $ — $ 8,363 Segment Assets 111,562 3,271 4,010 118,843 2,125 188 121,156 (a) Regulated Utilities includes an after-tax charge of $58 million related to the Edwardsport settlement. Refer to Note 4 for further information. (b) Commercial Portfolio includes state tax expense of $41 million , resulting from changes to state apportionment factors due to the sale of the Disposal Group, that does not qualify for discontinued operations. Refer to Note 2 for further information related to the sale. (c) Other includes $60 million of after-tax costs to achieve mergers. (d) Other includes an after-tax charge of $77 million related to cost savings initiatives. Refer to Note 19 for further information related to the cost savings initiatives. (e) Includes after-tax impact of $53 million for the settlement agreement reached in a lawsuit related to the Disposal Group. Refer to Note 5 for further information related to the lawsuit. Year Ended December 31, 2014 Total Regulated International Commercial Reportable (in millions) Utilities Energy Portfolio Segments Other Eliminations Total Unaffiliated Revenues $ 22,228 $ 1,417 $ 255 $ 23,900 $ 25 $ — $ 23,925 Intersegment Revenues 43 — — 43 80 (123 ) — Total Revenues $ 22,271 $ 1,417 $ 255 $ 23,943 $ 105 $ (123 ) $ 23,925 Interest Expense $ 1,093 $ 93 $ 58 $ 1,244 $ 400 $ (22 ) $ 1,622 Depreciation and amortization 2,759 97 92 2,948 118 — 3,066 Equity in earnings of unconsolidated affiliates (3 ) 120 10 127 3 — 130 Income tax expense (benefit) (a) 1,628 449 (171 ) 1,906 (237 ) — 1,669 Segment income (loss) (b)(c)(d) 2,795 55 (55 ) 2,795 (334 ) (10 ) 2,451 Add back noncontrolling interest component 14 Loss from discontinued operations, net of tax (576 ) Net income $ 1,889 Capital investments expenditures and acquisitions $ 4,744 $ 67 $ 555 $ 5,366 $ 162 $ — $ 5,528 Segment Assets 106,574 5,093 6,278 117,945 2,423 189 120,557 (a) International Energy includes a tax adjustment of $373 million related to deferred tax impact resulting from the decision to repatriate all cumulative historical undistributed foreign earnings. See Note 22 for additional information. (b) Commercial Portfolio recorded a $94 million pretax impairment charge related to OVEC. (c) Other includes costs to achieve mergers. (d) Regulated Utilities includes an increase in the litigation reserve related to the criminal investigation of the Dan River coal ash spill. See Note 5 for additional information. Year Ended December 31, 2013 Total Regulated International Commercial Reportable (in millions) Utilities Energy Portfolio Segments Other Eliminations Total Unaffiliated Revenues (a)(b)(c) $ 20,871 $ 1,546 $ 254 $ 22,671 $ 85 $ — $ 22,756 Intersegment Revenues 39 — 6 45 90 (135 ) — Total Revenues $ 20,910 $ 1,546 $ 260 $ 22,716 $ 175 $ (135 ) $ 22,756 Interest Expense $ 986 $ 86 $ 61 $ 1,133 $ 416 $ (6 ) $ 1,543 Depreciation and amortization 2,323 100 110 2,533 135 — 2,668 Equity in earnings of unconsolidated affiliates (1 ) 110 7 116 6 — 122 Income tax expense (benefit) 1,522 166 (148 ) 1,540 (335 ) — 1,205 Segment income (loss) (a)(b)(c)(d)(e)(f)(g) 2,504 408 (88 ) 2,824 (238 ) (12 ) 2,574 Add back noncontrolling interest component 16 Income from discontinued operations, net of tax 86 Net income $ 2,676 Capital investments expenditures and acquisitions $ 5,049 $ 67 $ 268 $ 5,384 $ 223 $ — $ 5,607 Segment Assets 99,884 4,998 6,955 111,837 2,754 188 114,779 (a) In May 2013, the PUCO approved a Duke Energy Ohio settlement agreement that provides for a net annual increase in electric distribution revenues beginning in May 2013. This rate increase impacts Regulated Utilities. (b) In June 2013, NCUC approved a Duke Energy Progress settlement agreement that included an increase in rates in the first year beginning in June 2013. This rate increase impacts Regulated Utilities. (c) In September 2013, Duke Energy Carolinas implemented revised customer rates approved by the NCUC and the PSCSC. These rate increases impact Regulated Utilities. (d) Regulated Utilities recorded an impairment charge related to Duke Energy Florida's Crystal River Unit 3. See Note 4 for additional information. (e) Regulated Utilities recorded an impairment charge related to the letter Duke Energy Progress filed with the NRC requesting the NRC to suspend its review activities associated with the combined construction and operating license (COL) at the Harris site. Regulated Utilities also recorded an impairment charge related to the write-off of the wholesale portion of the Levy investments at Duke Energy Florida in accordance with the 2013 Settlement. See Note 4 for additional information. (f) Other includes costs to achieve mergers. (g) Other includes gain from the sale of Duke Energy's ownership interest in DukeNet. See Note 12 for additional information on the sale of DukeNet. |
Schedule Of Revenue And Long-Lived Assets, By Geographical Area | Geographical Information (in millions) U.S. Latin America (a) Consolidated 2015 Consolidated revenues $ 22,371 $ 1,088 $ 23,459 Consolidated long-lived assets 87,552 2,012 89,564 2014 Consolidated revenues $ 22,508 $ 1,417 $ 23,925 Consolidated long-lived assets 80,709 2,458 83,167 2013 Consolidated revenues $ 21,211 $ 1,545 $ 22,756 Consolidated long-lived assets 78,581 2,781 81,362 (a) Change in amounts of long-lived assets in Latin America includes foreign currency translation adjustments on property, plant and equipment and other long-lived asset balances. |
Schedule of Revenue, By Products and Services | Products and Services The following table summarizes revenues of the reportable segments by type. Retail Wholesale Retail Wholesale Total (in millions) Electric Electric Natural Gas Natural Gas Other Revenues 2015 Regulated Utilities $ 18,695 $ 2,014 $ 546 $ — $ 807 $ 22,062 International Energy — 1,025 — 63 — 1,088 Commercial Portfolio — 260 — — 41 301 Total Reportable Segments $ 18,695 $ 3,299 $ 546 $ 63 $ 848 $ 23,451 2014 Regulated Utilities $ 19,007 $ 1,879 $ 571 $ — $ 814 $ 22,271 International Energy — 1,326 — 91 — 1,417 Commercial Portfolio — 255 — — — 255 Total Reportable Segments $ 19,007 $ 3,460 $ 571 $ 91 $ 814 $ 23,943 2013 Regulated Utilities $ 17,837 $ 1,720 $ 506 $ — $ 847 $ 20,910 International Energy — 1,447 — 99 — 1,546 Commercial Portfolio — 260 — — — 260 Total Reportable Segments $ 17,837 $ 3,427 $ 506 $ 99 $ 847 $ 22,716 |
Duke Energy Ohio [Member] | |
Segment Reporting Information [Line Items] | |
Business Segment Data | Year Ended December 31, 2015 Total Regulated Commercial Reportable (in millions) Utilities Portfolio Segments Other Eliminations Total Unaffiliated revenues $ 1,872 $ 14 $ 1,886 $ 19 $ — $ 1,905 Intersegment revenues 1 — 1 — (1 ) — Total revenues $ 1,873 $ 14 $ 1,887 $ 19 $ (1 ) $ 1,905 Interest expense $ 78 $ — $ 78 $ 1 $ — $ 79 Depreciation and amortization 226 — 226 1 — 227 Income tax expense (benefit) 105 (5 ) 100 (19 ) — 81 Segment income (loss) 191 (8 ) 183 (33 ) (1 ) 149 Income from discontinued operations, net of tax 23 Net income $ 172 Capital expenditures $ 399 $ — $ 399 $ — $ — $ 399 Segment assets 7,050 — 7,050 55 (8 ) 7,097 Year Ended December 31, 2014 Total Regulated Commercial Reportable (in millions) Utilities Portfolio Segments Other Eliminations Total Unaffiliated revenues $ 1,894 $ 19 $ 1,913 $ — $ — $ 1,913 Intersegment revenues 1 — 1 — (1 ) — Total revenues $ 1,895 $ 19 $ 1,914 $ — $ (1 ) $ 1,913 Interest expense $ 81 $ 5 $ 86 $ — $ — $ 86 Depreciation and amortization 211 2 213 1 — 214 Income tax expense (benefit) 117 (67 ) 50 (7 ) — 43 Segment income (loss) (a) 202 (121 ) 81 (13 ) — 68 Income from discontinued operations, net of tax (563 ) Net loss $ (495 ) Capital expenditures $ 300 $ 22 $ 322 $ — $ — $ 322 Segment assets 6,902 3,187 10,089 134 (230 ) 9,993 (a) Commercial Portfolio recorded a $94 million pretax impairment charge related to OVEC. Year Ended December 31, 2013 Total Regulated Commercial Reportable (in millions) Utilities Portfolio Segments Other Eliminations Total Total revenues $ 1,765 $ 40 $ 1,805 $ — $ — $ 1,805 Interest expense $ 74 $ — $ 74 $ — $ — $ 74 Depreciation and amortization 200 13 213 — — 213 Income tax expense (benefit) 91 (36 ) 55 (12 ) — 43 Segment income (loss) 151 (65 ) 86 (19 ) — 67 Income from discontinued operations, net of tax 35 Net income $ 102 Capital expenditures $ 375 $ 58 $ 433 $ — $ — $ 433 Segment assets 6,649 4,170 10,819 99 (155 ) 10,763 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Assets Asset retirement obligations – coal ash $ 1,992 $ 840 $ 1,152 $ 1,152 $ — $ — $ — Asset retirement obligations – nuclear and other 1,025 67 730 432 298 — — Accrued pension and OPEB 2,015 412 812 354 458 132 217 Retired generation facilities 1,659 58 1,545 152 1,393 — 56 Debt fair value adjustment 1,305 — — — — — — Net regulatory asset related to income taxes 1,144 614 354 141 213 64 111 Hedge costs and other deferrals 628 103 490 217 273 7 28 DSM/EE 330 106 203 193 10 21 — Grid Modernization 76 — — — — 76 — Vacation accrual 213 86 46 46 — 6 12 Deferred fuel and purchased power 246 50 182 138 44 9 5 Nuclear deferral 296 141 155 43 112 — — Post-in-service carrying costs and deferred operating expenses 494 124 121 28 93 21 228 Gasification services agreement buyout 55 — — — — — 55 Transmission expansion obligation 70 — — — — 74 — MGP 115 — — — — 115 — Other 494 263 109 66 42 36 66 Total regulatory assets 12,157 2,864 5,899 2,962 2,936 561 778 Less: current portion 1,115 399 491 287 203 49 93 Total noncurrent regulatory assets $ 11,042 $ 2,465 $ 5,408 $ 2,675 $ 2,733 $ 512 $ 685 The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Assets Asset retirement obligations – coal ash $ 2,555 $ 1,120 $ 1,394 $ 1,386 $ 8 $ 4 $ 37 Asset retirement obligations – nuclear and other 838 104 487 195 292 — — Accrued pension and OPEB 2,151 479 807 366 441 139 220 Retired generation facilities 509 49 409 179 230 — 51 Debt fair value adjustment 1,191 — — — — — — Net regulatory asset related to income taxes 1,075 564 318 106 212 55 120 Nuclear asset securitizable balance, net 1,237 — 1,237 — 1,237 — — Hedge costs and other deferrals 571 127 410 171 239 7 27 Demand side management (DSM)/Energy efficiency (EE) 340 80 250 237 13 10 — Grid Modernization 68 — — — — 68 — Vacation accrual 192 79 38 38 — 5 10 Deferred fuel and purchased power 151 21 129 93 36 1 — Nuclear deferral 245 107 138 62 76 — — Post-in-service carrying costs and deferred operating expenses 383 97 38 38 — 21 227 Gasification services agreement buyout 32 — — — — — 32 Transmission expansion obligation 72 — — — — 72 — Manufactured gas plant (MGP) 104 — — — — 104 — NCEMPA deferrals 21 — 21 21 — — — East Bend deferrals 16 — — — — 16 — Other 499 244 121 82 39 31 94 Total regulatory assets 12,250 3,071 5,797 2,974 2,823 533 818 Less: current portion 877 305 362 264 98 36 102 Total noncurrent regulatory assets $ 11,373 $ 2,766 $ 5,435 $ 2,710 $ 2,725 $ 497 $ 716 |
Schedule Of Regulatory Liabilities | December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Liabilities Costs of removal $ 5,329 $ 2,413 $ 2,078 $ 1,725 $ 353 $ 222 $ 616 Amounts to be refunded to customers 71 — — — — — 71 Storm reserve 150 24 125 — 125 1 — Accrued pension and OPEB 288 68 51 25 26 21 83 Deferred fuel and purchased power 311 55 255 58 197 1 — Other 506 281 164 155 8 12 46 Total regulatory liabilities 6,655 2,841 2,673 1,963 709 257 816 Less: current portion 400 39 286 85 200 12 62 Total noncurrent regulatory liabilities $ 6,255 $ 2,802 $ 2,387 $ 1,878 $ 509 $ 245 $ 754 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory Liabilities Costs of removal $ 5,221 $ 2,420 $ 1,975 $ 1,692 $ 283 $ 222 $ 613 Amounts to be refunded to customers 166 — 70 — 70 — 96 Storm reserve 150 25 125 — 125 — — Accrued pension and OPEB 379 76 121 61 60 19 91 Deferred fuel and purchased power 37 6 23 23 — — 8 Other 444 217 171 127 44 10 42 Total regulatory liabilities 6,397 2,744 2,485 1,903 582 251 850 Less: current portion 204 34 106 71 35 10 54 Total noncurrent regulatory liabilities $ 6,193 $ 2,710 $ 2,379 $ 1,832 $ 547 $ 241 $ 796 |
Schedule of Potential Plant Retirements | The table below contains the net carrying value of generating facilities planned for retirement or included in recent IRPs as evaluated for potential retirement due to a lack of requisite environmental control equipment. Dollar amounts in the table below are included in Net property, plant and equipment on the Consolidated Balance Sheets. December 31, 2015 Duke Duke Duke Energy Energy Energy Florida (b) Indiana (c) Capacity (in MW) 1,821 873 948 Remaining net book value (in millions) (a) $ 352 $ 131 $ 221 (a) Remaining net book value amounts presented exclude any capitalized asset retirement costs related to closure of ash basins. (b) Includes Crystal River Units 1 and 2. Progress Energy amounts are equal to Duke Energy Florida amounts. (c) Includes Wabash River Units 2 through 6 and Gallagher Units 2 and 4. Wabash River Unit 6 is being evaluated for potential conversion to natural gas. Duke Energy Indiana committed to retire or convert the Wabash River Units 2 through 6 by June 2018 in conjunction with a settlement agreement associated with the Edwardsport air permit. Duke Energy Indiana committed to either retire or stop burning coal at Gallagher Units 2 and 4 by December 31, 2022, as part of the proposed settlement of Edwardsport IGCC matters. |
Duke Energy Ohio [Member] | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of MISO Exit Fee Obligations | The following table provides a reconciliation of the beginning and ending balance of Duke Energy Ohio’s recorded obligations related to its withdrawal from MISO. As of December 31, 2015 , $72 million is recorded as a Regulatory asset on Duke Energy Ohio's Consolidated Balance Sheets. Provisions/ Cash (in millions) December 31, 2014 Adjustments Reductions December 31, 2015 Duke Energy Ohio $ 94 $ 3 $ (5 ) $ 92 |
Commitments and Contingencies (
Commitments and Contingencies (Table) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule of Additional Possible Losses in Excess of Recorded Environmental Reserves | Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material except as presented in the table below. (in millions) Duke Energy $ 74 Duke Energy Carolinas 22 Duke Energy Ohio 42 Duke Energy Indiana 7 |
Schedule of Legal Reserves | The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters, excluding asbestos-related reserves and the exit obligation discussed above related to the termination of an EPC contract. Reserves are classified on the Consolidated Balance Sheets in Other within Deferred Credits and Other Liabilities and Accounts payable and Other within Current Liabilities. The reasonably possible range of loss in excess of recorded reserves is not material, other than as described above. December 31, (in millions) 2015 2014 Reserves for Legal Matters Duke Energy $ 166 $ 323 Duke Energy Carolinas 11 72 Progress Energy 54 93 Duke Energy Progress 6 37 Duke Energy Florida 31 36 Duke Energy Ohio 80 — |
Schedule of Purchase Power Obligations | The following table presents executory purchased power contracts with terms exceeding one year, excluding contracts classified as leases. Minimum Purchase Amount at December 31, 2015 Contract (in millions) Expiration 2016 2017 2018 2019 2020 Thereafter Total Duke Energy Progress (a) 2019-2031 $ 54 $ 60 $ 61 $ 62 $ 49 $ 363 $ 649 Duke Energy Florida (b) 2021-2043 305 345 360 377 394 1,591 3,372 Duke Energy Ohio (c)(d) 2017-2018 236 195 59 — — — 490 (a) Contracts represent between 15 percent and 100 percent of net plant output. (b) Contracts represent between 80 percent and 100 percent of net plant output. (c) Contracts represent between 1 percent and 11 percent of net plant output. (d) Excludes purchase power agreement with OVEC. See Note 17 for additional information. |
Schedule of Operating Lease Rent Expense | The following table presents rental expense for operating leases. These amounts are included in Operation, maintenance and other on the Consolidated Statements of Operations. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy $ 318 $ 355 $ 321 Duke Energy Carolinas 41 41 39 Progress Energy 230 257 225 Duke Energy Progress 149 161 153 Duke Energy Florida 81 96 72 Duke Energy Ohio 13 17 14 Duke Energy Indiana 20 21 22 |
Schedule of Future Minimum Rental Payments for Operating Leases | The following table presents future minimum lease payments under operating leases, which at inception had a non-cancelable term of more than one year. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana 2016 $ 219 $ 41 $ 132 $ 66 $ 66 $ 13 $ 20 2017 182 33 111 63 48 9 15 2018 161 24 108 61 47 6 12 2019 146 21 102 56 46 4 8 2020 127 16 93 48 45 3 5 Thereafter 864 51 622 365 257 5 8 Total $ 1,699 $ 186 $ 1,168 $ 659 $ 509 $ 40 $ 68 |
Schedule of Future Minimum Lease Payments for Capital Leases | The following table presents future minimum lease payments under capital leases. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana 2016 $ 173 $ 6 $ 46 $ 20 $ 26 $ 7 $ 3 2017 171 6 46 21 25 1 1 2018 180 6 46 21 25 5 2 2019 178 6 45 22 25 1 1 2020 182 5 46 21 25 — 1 Thereafter 1,176 30 367 272 95 1 43 Minimum annual payments 2,060 59 596 377 221 15 51 Less: amount representing interest (724 ) (35 ) (295 ) (230 ) (65 ) (2 ) (38 ) Total $ 1,336 $ 24 $ 301 $ 147 $ 156 $ 13 $ 13 |
Reserve for Environmental Costs [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule of Legal Reserves | The following tables contain information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheets. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Balance at December 31, 2012 $ 75 $ 12 $ 33 $ 14 $ 19 $ 15 $ 8 Provisions/adjustments 26 — 4 (1 ) 5 20 1 Cash reductions (22 ) (1 ) (10 ) (5 ) (5 ) (8 ) (2 ) Balance at December 31, 2013 79 11 27 8 19 27 7 Provisions/adjustments 32 (1 ) 1 4 (3 ) 28 4 Cash reductions (14 ) — (11 ) (7 ) (4 ) (1 ) (1 ) Balance at December 31, 2014 97 10 17 5 12 54 10 Provisions/adjustments 9 1 4 — 4 1 5 Cash reductions (9 ) (1 ) (4 ) (2 ) (2 ) (1 ) (3 ) Balance at December 31, 2015 $ 97 $ 10 $ 17 $ 3 $ 14 $ 54 $ 12 |
Debt and Credit Facilities (Tab
Debt and Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | The following tables show short-term obligations classified as long-term debt. December 31, 2015 Duke Duke Duke Duke Duke Energy Energy Energy Energy (in millions) Energy Carolinas Progress Ohio Indiana Tax-exempt bonds $ 347 $ 35 $ — $ 27 $ 285 Commercial paper (a) 625 300 150 25 150 Total $ 972 $ 335 $ 150 $ 52 $ 435 December 31, 2014 Duke Duke Duke Duke Energy Energy Energy (in millions) Energy Carolinas Ohio Indiana Tax-exempt bonds $ 347 $ 35 $ 27 $ 285 Commercial paper 475 300 25 150 Secured debt (b) 200 — — — Total $ 1,022 $ 335 $ 52 $ 435 (a) Progress Energy amounts are equal to Duke Energy Progress amounts. (b) In December 2015, Duke Energy used cash held by the lender to repay debt. Instrument had a term of less than one year with the right to extend the maturity date for additional one-year periods with a final maturity date no later than December 2026. The following tables summarize outstanding debt. December 31, 2015 Weighted Average Duke Duke Duke Duke Duke Interest Duke Energy Progress Energy Energy Energy Energy (in millions) Rate Energy Carolinas Energy Progress Florida Ohio Indiana Unsecured debt, maturing 2016 - 2073 4.99 % $ 13,392 $ 1,152 $ 3,850 $ — $ 150 $ 765 $ 740 Secured debt, maturing 2016 - 2037 2.57 % 2,635 425 479 254 225 — — First mortgage bonds, maturing 2016 - 2045 (a) 4.74 % 18,980 6,161 9,750 5,975 3,775 750 2,319 Capital leases, maturing 2016 - 2051 (b) 5.38 % 1,336 24 300 144 156 13 14 Tax-exempt bonds, maturing 2017 - 2041 (c) 2.59 % 1,053 355 48 48 — 77 572 Notes payable and commercial paper (d) 0.88 % 4,258 — — — — — — Money pool/intercompany borrowings — 300 1,458 359 813 128 150 Fair value hedge carrying value adjustment 6 6 — — — — — Unamortized debt discount and premium, net (e) 1,712 (17 ) (28 ) (16 ) (8 ) (28 ) (8 ) Unamortized debt issuance costs (f) (170 ) (39 ) (85 ) (37 ) (32 ) (4 ) (19 ) Total debt 4.25 % $ 43,202 $ 8,367 $ 15,772 $ 6,727 $ 5,079 $ 1,701 $ 3,768 Short-term notes payable and commercial paper (3,633 ) — — — — — — Short-term money pool/intercompany borrowings — — (1,308 ) (209 ) (813 ) (103 ) — Current maturities of long-term debt (g) (2,074 ) (356 ) (315 ) (2 ) (13 ) (106 ) (547 ) Total long-term debt (g) $ 37,495 $ 8,011 $ 14,149 $ 6,516 $ 4,253 $ 1,492 $ 3,221 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $114 million and $731 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. (d) Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for commercial paper was 15 days. (e) Duke Energy includes $1,798 million in purchase accounting adjustments related to the merger with Progress Energy. (f) Duke Energy includes $59 million in purchase accounting adjustments primarily related to the merger with Progress Energy. (g) Refer to Note 17 for additional information on amounts from consolidated VIEs. December 31, 2014 Weighted Average Duke Duke Duke Duke Duke Interest Duke Energy Progress Energy Energy Energy Energy (in millions) Rate Energy Carolinas Energy Progress Florida Ohio Indiana Unsecured debt, maturing 2015 - 2073 4.92 % $ 12,937 $ 1,155 $ 3,850 $ — $ 150 $ 773 $ 742 Secured debt, maturing 2016 - 2037 2.50 % 2,806 400 525 300 225 — — First mortgage bonds, maturing 2015 - 2044 (a) 4.76 % 19,180 6,161 9,800 5,475 4,325 900 2,319 Capital leases, maturing 2015 - 2051 (b) 5.30 % 1,428 27 314 146 168 20 16 Tax-exempt bonds, maturing 2015 - 2041 (c) 2.13 % 1,296 355 291 291 — 77 573 Notes payable and commercial paper (d) 0.70 % 2,989 — — — — — — Money pool/intercompany borrowings — 300 835 — 84 516 221 Fair value hedge carrying value adjustment 8 8 — — — — — Unamortized debt discount and premium, net (e) 1,890 (15 ) (26 ) (11 ) (8 ) (29 ) (9 ) Unamortized debt issuance costs (152 ) (38 ) (86 ) (31 ) (37 ) (6 ) (22 ) Total debt 4.29 % $ 42,382 $ 8,353 $ 15,503 $ 6,170 $ 4,907 $ 2,251 $ 3,840 Short-term notes payable and commercial paper (2,514 ) — — — — — — Short-term money pool/intercompany borrowings — — (835 ) — (84 ) (491 ) (71 ) Current maturities of long-term debt (f) (2,807 ) (507 ) (1,507 ) (945 ) (562 ) (157 ) (5 ) Total long-term debt (f) $ 37,061 $ 7,846 $ 13,161 $ 5,225 $ 4,261 $ 1,603 $ 3,764 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $129 million and $787 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. (d) Includes $475 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for commercial paper was 27 days. (e) Duke Energy includes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. (f) Refer to Note 17 for additional information on amounts from consolidated VIEs. The following table shows the significant components of Current maturities of long-term debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings. (in millions) Maturity Date Interest Rate December 31, 2015 Unsecured Debt Progress Energy (Parent) January 2016 5.625 % $ 300 Duke Energy Indiana June 2016 6.05 % 325 Duke Energy (Parent) November 2016 2.150 % 500 First Mortgage Bonds Duke Energy Indiana July 2016 0.670 % 150 Duke Energy Carolinas December 2016 1.750 % 350 Other 449 Current maturities of long-term debt $ 2,074 |
Schedule of Maturities of Long-term Debt | The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable and commercial paper and money pool borrowings for the Subsidiary Registrants. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy (a) Carolinas Energy Progress Florida Ohio Indiana 2016 $ 2,074 $ 356 $ 315 $ 2 $ 13 $ 106 $ 547 2017 2,468 115 923 446 482 1 2 2018 3,441 1,629 510 — 512 5 3 2019 3,022 5 1,667 855 14 552 63 2020 2,091 755 415 152 265 25 653 Thereafter 24,616 5,507 10,634 5,063 2,980 909 2,500 Total long-term debt, including current maturities $ 37,712 $ 8,367 $ 14,464 $ 6,518 $ 4,266 $ 1,598 $ 3,768 (a) Excludes $1,857 million in purchase accounting adjustments related to the merger with Progress Energy. |
Schedule of Long-term Debt Instruments | The following tables summarize significant debt issuances (in millions). Year Ended December 31, 2015 Duke Duke Duke Maturity Interest Duke Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Unsecured Debt November 2015 (a)(b) April 2024 3.750 % $ 400 $ 400 $ — $ — November 2015 (a)(b) December 2045 4.800 % 600 600 — — First Mortgage Bonds March 2015 (c) June 2045 3.750 % 500 — 500 — August 2015 (a)(d) August 2025 3.250 % 500 — — 500 August 2015 (a)(d) August 2045 4.200 % 700 — — 700 Total issuances $ 2,700 $ 1,000 $ 500 $ 1,200 (a) Proceeds were used to repay short-term money pool and commercial paper borrowing issued to fund a portion of the NCEMPA acquisition, see Note 2 for further information. (b) Proceeds were used to refinance at maturity $300 million of unsecured notes at Progress Energy due January 2016. (c) Proceeds were used to redeem at maturity $500 million of first mortgage bonds due October 2015. (d) Proceeds were used to refinance at maturity $400 million of first mortgage bonds due December 2015. Year Ended December 31, 2014 Duke Duke Duke Maturity Interest Duke Energy Energy Energy Issuance Date Date Rate Energy (Parent) Progress Florida Unsecured Debt April 2014 (a) April 2024 3.750 % $ 600 $ 600 $ — $ — April 2014 (a)(b) April 2017 0.613 % 400 400 — — June 2014 (c) May 2019 11.970 % 108 — — — June 2014 (c) May 2021 13.680 % 110 — — — Secured Debt March 2014 (d) March 2017 0.863 % 225 — — 225 July 2014 (e) July 2036 5.340 % 129 — — — First Mortgage Bonds March 2014 (f) March 2044 4.375 % 400 — 400 — March 2014 (f)(g) March 2017 0.435 % 250 — 250 — November 2014 (h) December 2044 4.150 % 500 — 500 — November 2014 (g)(h) November 2017 0.432 % 200 — 200 — Total issuances $ 2,922 $ 1,000 $ 1,350 $ 225 (a) Proceeds were used to redeem $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes. See Note 13 for additional information related to the redemption of Duke Energy Ohio's tax-exempt bonds. (b) The debt is floating rate based on three-month London Interbank Offered Rate (LIBOR) plus a fixed credit spread of 38 basis points. (c) Proceeds were used to repay $196 million of debt for International Energy and for general corporate purposes. The interest rates include country specific risk premiums. (d) Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 17 for further details. (e) Proceeds were used to fund a portion of Duke Energy's prior investment in the existing Wind Star renewables portfolio. (f) Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. (g) The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 20 basis points. (h) Proceeds were used to redeem $450 million of tax-exempt bonds, repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. |
Schedule Of Line Of Credit Facilities | The table below includes the current borrowing sublimits and available capacity under the Master Credit Facility. December 31, 2015 Duke Duke Duke Duke Duke Duke Duke Energy Energy Energy Energy Energy Energy (in millions) Energy (Parent) Carolinas Progress Florida Ohio Indiana Facility size (a) $ 7,500 $ 3,475 $ 800 $ 1,000 $ 1,200 $ 425 $ 600 Reduction to backstop issuances Commercial paper (b) (3,138 ) (1,531 ) (300 ) (333 ) (709 ) (115 ) (150 ) Outstanding letters of credit (72 ) (65 ) (4 ) (2 ) (1 ) — — Tax-exempt bonds (116 ) — (35 ) — — — (81 ) Coal ash set-aside (c) (500 ) — (250 ) (250 ) — — — Available capacity $ 3,674 $ 1,879 $ 211 $ 415 $ 490 $ 310 $ 369 (a) Represents the sublimit of each borrower. (b) Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets. (c) On May 14, 2015, the United States District Court for the Eastern District of North Carolina approved the separate Plea Agreements entered into by Duke Energy Carolinas, Duke Energy Progress and DEBS, a wholly owned subsidiary of Duke Energy, in connection with the investigation initiated by the USDOJ. Duke Energy Carolinas and Duke Energy Progress are required to each maintain $250 million of available capacity under the Master Credit Facility as security to meet their obligations under the Plea Agreements, in addition to certain other conditions. See Note 5 for further details. |
Guarantees and Indemnificatio41
Guarantees and Indemnifications (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Guarantor Obligations [Line Items] | |
Schedule of Guarantor Obligations | The following table includes the liabilities recognized for the guarantees discussed above. These amounts are primarily recorded in Other within Deferred Credits and other Liabilities on the Consolidated Balance Sheets. As current estimates change, additional losses related to guarantees and indemnifications to third parties, which could be material, may be recorded by the Duke Energy Registrants in the future. December 31, 2015 2014 Duke Energy $ 21 $ 28 Progress Energy 7 13 Duke Energy Florida 7 7 |
Joint Ownership of Generating42
Joint Ownership of Generating and Transmission Facilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule Joint Ownership of Generating and Transmission Facilities | The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the Regulated Utilities segment unless otherwise noted. December 31, 2015 Construction Ownership Property, Plant Accumulated Work in Interest and Equipment Depreciation Progress Duke Energy Carolinas Catawba Nuclear Station (units 1 and 2) (a) 19.25 % $ 926 $ 567 $ 9 Duke Energy Florida Intercession City Plant (unit 11) (b) 24 15 — Duke Energy Ohio Transmission facilities (c) Various 85 50 1 Duke Energy Indiana Gibson Station (unit 5) (d) 50.05 % 329 151 5 Vermillion (e) 62.5 % 153 108 — Transmission and local facilities (d) Various 4,094 1,688 — International Energy Brazil – Canoas I and II (f) 47.2 % 160 57 — (a) Jointly owned with North Carolina Municipal Power Agency Number One, NCEMC and Piedmont Municipal Power Agency. (b) Jointly owned with Georgia Power Company (GPC). GPC has exclusive rights to the output of the unit during the months of June through September and pays all fuel and water costs during this period. Duke Energy Florida pays all fuel and water costs during the remaining months. Other costs are allocated 66.67 percent to Duke Energy Florida and the remainder to GPC. (c) Jointly owned with America Electric Power Generation Resources and The Dayton Power and Light Company. (d) Jointly owned with Wabash Valley Power Association, Inc. (WVPA) and Indiana Municipal Power Agency. (e) Jointly owned with WVPA. (f) Jointly owned with Companhia Brasileira de Aluminio and included in the International segment. |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Asset Retirement Obligation [Line Items] | |
Schedule of Asset Retirement Obligations by Category | The following table presents the AROs recorded on the Consolidated Balance Sheets. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Decommissioning of Nuclear Power Facilities $ 5,072 $ 1,730 $ 3,093 $ 2,349 $ 744 $ — $ — Closure of Ash Impoundments 4,958 2,161 2,196 2,188 7 94 507 Other (a) 234 27 80 30 51 31 18 Total Asset retirement obligation $ 10,264 $ 3,918 $ 5,369 $ 4,567 $ 802 $ 125 $ 525 (a) Includes obligations related to asbestos removal and the closure of certain landfills at fossil generation facilities. Duke Energy Ohio also includes AROs related to the retirement of natural gas mains. Duke Energy also includes AROs related to the removal of renewable energy generation assets. |
Public Utilities General Disclosures | The following table presents the fair value of NDTF assets legally restricted for purposes of settling asset retirement obligations associated with nuclear decommissioning. December 31, (in millions) 2015 2014 Duke Energy $ 4,670 $ 5,182 Duke Energy Carolinas 2,686 2,678 Duke Energy Progress (a) 1,984 1,701 Duke Energy Florida (a)(b) — 803 (a) Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida. (b) Duke Energy Florida is actively decommissioning Crystal River Unit 3 and was granted an exemption from the NRC which allows for unrestricted use of the NDTF. Therefore, the entire balance of Duke Energy Florida’s NDTF may be applied towards license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3. The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs in the table below are presented in dollars of the year of the cost study and include costs to decommission plant components not subject to radioactive contamination. Annual Funding Decommissioning (in millions) Requirement (a) Costs (a)(b) Year of Cost Study Duke Energy $ 14 $ 8,130 2013 and 2014 Duke Energy Carolinas — 3,420 2013 Duke Energy Progress 14 3,550 2014 Duke Energy Florida — 1,160 2013 (a) Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida. (b) Amounts include the Subsidiary Registrant's ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. The following table includes the current expiration of nuclear operating licenses. Duke Energy Florida has requested the NRC terminate the operating license for Crystal River Unit 3 as it permanently ceased operation in February 2013. Refer to Note 4 for further information on decommissioning activity and transition to SAFSTOR. Unit Year of Expiration Duke Energy Carolinas Catawba Units 1 and 2 2043 McGuire Unit 1 2041 McGuire Unit 2 2043 Oconee Units 1 and 2 2033 Oconee Unit 3 2034 Duke Energy Progress Brunswick Unit 1 2036 Brunswick Unit 2 2034 Harris 2046 Robinson 2030 |
Rollforward Schedule of Asset Retirement Obligations | The following table presents changes in the liability associated with AROs. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Balance at December 31, 2013 4,958 1,594 2,570 1,737 833 28 30 Acquisitions 4 — — — — — — Accretion expense (a) 246 113 135 97 38 2 2 Liabilities settled (b) (68 ) — (68 ) — (68 ) — — Liabilities incurred in the current year (c) 3,500 1,717 1,783 1,783 — — — Revisions in estimates of cash flows (d) (174 ) 4 291 288 3 (3 ) — Balance at December 31, 2014 8,466 3,428 4,711 3,905 806 27 32 Acquisitions (e) 226 — 226 204 23 — — Accretion expense (a) 384 165 203 169 34 4 15 Liabilities settled (b) (422 ) (200 ) (195 ) (125 ) (70 ) (4 ) (23 ) Liabilities incurred in the current year (c) 1,016 178 282 282 — 116 418 Revisions in estimates of cash flows (f) 594 347 142 132 9 (18 ) 83 Balance at December 31, 2015 $ 10,264 $ 3,918 $ 5,369 $ 4,567 $ 802 $ 125 $ 525 (a) Substantially all accretion expense for the years ended December 31, 2015 and 2014 relates to Duke Energy’s regulated electric operations and has been deferred in accordance with regulatory accounting treatment. (b) For 2014, amounts relate to nuclear decommissioning of Crystal River Unit 3. For 2015, amounts primarily relate to ash impoundment closures and nuclear decommissioning of Crystal River Unit 3. (c) For 2014, amounts primarily relate to AROs recorded as a result of the Coal Ash Act and an agreement with the SCDHEC related to the W.S. Lee Steam Station. For 2015, amounts primarily relate to AROs recorded as a result of the EPA's rule for disposal of CCR. (d) Amounts for Progress Energy and Duke Energy Progress primarily relate to Duke Energy Progress' site-specific nuclear decommissioning cost studies. The Duke Energy amount also includes the impact of Duke Energy Progress' site-specific nuclear decommissioning cost studies on purchase accounting amounts. (e) Duke Energy Progress amount relates to the NCEMPA acquisition. See footnote 2 for additional information. (f) Primarily relates to the closure of ash impoundments. |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Public Utility, Property, Plant and Equipment [Line Items] | |
Schedule Of Property, Plant And Equipment | The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows. Years Ended December 31, 2015 2014 2013 Duke Energy 2.9 % 2.8 % 2.8 % Duke Energy Carolinas 2.8 % 2.7 % 2.8 % Progress Energy 2.6 % 2.5 % 2.5 % Duke Energy Progress 2.6 % 2.5 % 2.5 % Duke Energy Florida 2.7 % 2.7 % 2.4 % Duke Energy Ohio 2.7 % 2.3 % 3.3 % Duke Energy Indiana 3.0 % 3.0 % 2.8 % The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants. December 31, 2015 Estimated Useful Duke Duke Duke Duke Duke Life Duke Energy Progress Energy Energy Energy Energy (in millions) (Years) Energy Carolinas Energy Progress Florida Ohio Indiana Land $ 1,466 $ 407 $ 719 $ 392 $ 327 $ 118 $ 108 Plant – Regulated Electric generation, distribution and transmission 8 - 100 87,593 33,623 36,422 22,888 13,534 4,429 13,118 Natural gas transmission and distribution 12 - 67 2,322 — — — — 2,322 — Other buildings and improvements 15 - 100 1,480 477 621 294 322 204 179 Plant – Nonregulated Electric generation, distribution and transmission 1 - 30 3,348 — — — — — — Other buildings and improvements 5 - 50 2,363 — — — — — — Nuclear fuel 3,194 1,827 1,367 1,367 — — — Equipment 3 - 38 1,791 368 530 398 132 344 173 Construction in process 4,525 1,860 1,827 1,118 709 180 214 Other 2 - 60 4,744 836 1,180 856 319 153 215 Total property, plant and equipment (a)(d) 112,826 39,398 42,666 27,313 15,343 7,750 14,007 Total accumulated depreciation – regulated (b)(c)(d) (35,367 ) (13,521 ) (14,867 ) (10,141 ) (4,720 ) (2,507 ) (4,484 ) Total accumulated depreciation – nonregulated (c)(d) (2,298 ) — — — — — — Generation facilities to be retired, net 548 — 548 548 — — — Total net property, plant and equipment $ 75,709 $ 25,877 $ 28,347 $ 17,720 $ 10,623 $ 5,243 $ 9,523 (a) Includes capitalized leases of $1,470 million , $40 million , $302 million , $144 million , $158 million , $96 million , and $39 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily within Plant - Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $85 million , $7 million and $78 million , respectively, of accumulated amortization of capitalized leases. (b) Includes $1,621 million , $976 million , $645 million and $645 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. (c) Includes accumulated amortization of capitalized leases of $58 million , $11 million , $27 million and $7 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. (d) Includes gross property, plant and equipment cost of consolidated VIEs of $2,033 million and accumulated depreciation of consolidated VIEs of $327 million at Duke Energy. December 31, 2014 Estimated Useful Duke Duke Duke Duke Duke Life Duke Energy Progress Energy Energy Energy Energy (in millions) (Years) Energy Carolinas Energy Progress Florida Ohio Indiana Land $ 1,459 $ 403 $ 704 $ 380 $ 324 $ 114 $ 108 Plant – Regulated Electric generation, distribution and transmission 2 - 138 82,206 31,751 33,672 20,616 13,056 3,956 11,911 Natural gas transmission and distribution 12 - 67 2,230 — — — — 2,230 — Other buildings and improvements 9 - 100 1,445 465 607 286 318 200 173 Plant – Nonregulated Electric generation, distribution and transmission 1- 30 2,380 — — — — — — Other buildings and improvements 5 - 50 2,498 — — — — — — Nuclear fuel 2,865 1,676 1,190 1,190 — — — Equipment 3 - 34 1,762 341 506 388 118 330 166 Construction in process 4,519 2,081 1,215 908 307 97 481 Other 5 - 80 3,497 655 756 439 310 214 195 Total property, plant and equipment (a)(d) 104,861 37,372 38,650 24,207 14,433 7,141 13,034 Total accumulated depreciation – regulated (b)(c)(d) (32,628 ) (12,700 ) (13,506 ) (9,021 ) (4,478 ) (2,213 ) (4,219 ) Total accumulated depreciation – nonregulated (c)(d) (2,196 ) — — — — — — Generation facilities to be retired, net 9 — — — — 9 — Total net property, plant and equipment $ 70,046 $ 24,672 $ 25,144 $ 15,186 $ 9,955 $ 4,937 $ 8,815 (a) Includes capitalized leases of $1,548 million , $40 million , $315 million , $146 million , $169 million , $98 million , and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $72 million , $5 million and $67 million , respectively, of accumulated amortization of capitalized leases. (b) Includes $1,408 million , $847 million , $561 million and $561 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. (c) Includes accumulated amortization of capitalized leases of $52 million , $8 million , $25 million and $6 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. (d) Includes gross property, plant and equipment cost of consolidated VIEs of $1,873 million and accumulated depreciation of consolidated VIEs of $257 million at Duke Energy. |
Schedule Of Capitalized Interest | The following table presents capitalized interest, which includes the debt component of AFUDC. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy $ 98 $ 75 $ 89 Duke Energy Carolinas 38 38 41 Progress Energy 24 11 19 Duke Energy Progress 20 10 16 Duke Energy Florida 4 1 3 Duke Energy Ohio 10 10 11 Duke Energy Indiana 6 6 9 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill [Line Items] | |
Goodwill By Reportable Operating Segment | The following table presents goodwill by reportable operating segment for Duke Energy. Duke Energy Regulated International Commercial (in millions) Utilities Energy Portfolio Total Goodwill at December 31, 2014 (a) $ 15,950 $ 307 $ 64 $ 16,321 Foreign exchange and other changes — (36 ) — (36 ) Acquisitions — — 58 58 Goodwill at December 31, 2015 $ 15,950 $ 271 $ 122 $ 16,343 |
Schedule of Intangible Assets | The following tables show the carrying amount and accumulated amortization of intangible assets within Other on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2015 and 2014 . December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Emission allowances $ 20 $ 1 $ 6 $ 2 $ 4 $ — $ 14 Renewable energy certificates 116 30 80 80 — 5 — Gas, coal and power contracts 24 — — — — — 24 Wind development rights 115 — — — — — — Other 68 — — — — — — Total gross carrying amounts 343 31 86 82 4 5 38 Accumulated amortization – gas, coal and power contracts (16 ) — — — — — (16 ) Accumulated amortization – wind development rights (18 ) — — — — — — Accumulated amortization – other (24 ) — — — — — — Total accumulated amortization (58 ) — — — — — (16 ) Total intangible assets, net $ 285 $ 31 $ 86 $ 82 $ 4 $ 5 $ 22 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Emission allowances $ 23 $ 1 $ 7 $ 3 $ 4 $ — $ 16 Renewable energy certificates 97 25 69 69 — 3 — Gas, coal and power contracts 24 — — — — — 24 Wind development rights 97 — — — — — — Other 76 — — — — — — Total gross carrying amounts 317 26 76 72 4 3 40 Accumulated amortization – gas, coal and power contracts (15 ) — — — — — (15 ) Accumulated amortization – wind development rights (14 ) — — — — — — Accumulated amortization – other (25 ) — — — — — — Total accumulated amortization (54 ) — — — — — (15 ) Total intangible assets, net $ 263 $ 26 $ 76 $ 72 $ 4 $ 3 $ 25 |
Schedule of Amortization Expense | The following table presents amortization expense for gas, coal and power contracts, wind development rights and other intangible assets. December 31, (in millions) 2015 2014 2013 Duke Energy $ 4 $ 6 $ 13 Duke Energy Ohio — 2 8 Duke Energy Indiana 1 1 1 |
Schedule of Expected Amortization Expense | The amortization amounts discussed below are estimates and actual amounts may differ from these estimates due to such factors as changes in consumption patterns, sales or impairments of emission allowances or other intangible assets, delays in the in-service dates of wind assets, additional intangible acquisitions and other events. (in millions) 2016 2017 2018 2019 2020 Duke Energy $ 8 $ 8 $ 8 $ 7 $ 7 Duke Energy Indiana 2 2 2 2 2 |
Investments in Unconsolidated46
Investments in Unconsolidated Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Equity Method Unconsolidated Affiliates | The following table presents Duke Energy’s investments in unconsolidated affiliates accounted for under the equity method, as well as the respective equity in earnings, by segment. Years Ended December 31, 2015 2014 2013 Equity in Equity in Equity in (in millions) Investments earnings Investments earnings earnings Regulated Utilities $ 2 $ (4 ) $ 3 $ (3 ) $ (1 ) International Energy 39 74 69 120 110 Commercial Portfolio 433 (3 ) 258 10 7 Other 25 2 28 3 6 Total $ 499 $ 69 $ 358 $ 130 $ 122 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Duke Energy Carolinas [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 914 $ 851 $ 927 Indemnification coverages (b) 24 21 22 JDA revenue (c) 51 133 121 JDA expense (c) 183 198 116 Progress Energy Corporate governance and shared services provided by Duke Energy (a) $ 712 $ 732 $ 290 Corporate governance and shared services provided to Duke Energy (d) — — 96 Indemnification coverages (b) 38 33 34 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Progress Corporate governance and shared service expenses (a) $ 403 $ 386 $ 266 Indemnification coverages (b) 16 17 20 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Florida Corporate governance and shared service expenses (a) $ 309 $ 346 $ 182 Indemnification coverages (b) 22 16 14 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 342 $ 316 $ 347 Indemnification coverages (b) 6 13 15 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 349 $ 384 $ 422 Indemnification coverages (b) 9 11 14 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (b) The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. (d) In 2013, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. |
Intercompany Income Tax Receivable | Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables for the subsidiary registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana December 31, 2015 Intercompany income tax receivable $ 122 $ 120 $ 104 $ — $ 54 $ — Intercompany income tax payable — — — 96 — 47 December 31, 2014 Intercompany income tax receivable $ 43 $ 713 $ 267 $ 174 $ 39 $ 95 |
Progress Energy [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 914 $ 851 $ 927 Indemnification coverages (b) 24 21 22 JDA revenue (c) 51 133 121 JDA expense (c) 183 198 116 Progress Energy Corporate governance and shared services provided by Duke Energy (a) $ 712 $ 732 $ 290 Corporate governance and shared services provided to Duke Energy (d) — — 96 Indemnification coverages (b) 38 33 34 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Progress Corporate governance and shared service expenses (a) $ 403 $ 386 $ 266 Indemnification coverages (b) 16 17 20 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Florida Corporate governance and shared service expenses (a) $ 309 $ 346 $ 182 Indemnification coverages (b) 22 16 14 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 342 $ 316 $ 347 Indemnification coverages (b) 6 13 15 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 349 $ 384 $ 422 Indemnification coverages (b) 9 11 14 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (b) The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. (d) In 2013, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. |
Intercompany Income Tax Receivable | Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables for the subsidiary registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana December 31, 2015 Intercompany income tax receivable $ 122 $ 120 $ 104 $ — $ 54 $ — Intercompany income tax payable — — — 96 — 47 December 31, 2014 Intercompany income tax receivable $ 43 $ 713 $ 267 $ 174 $ 39 $ 95 |
Duke Energy Progress [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 914 $ 851 $ 927 Indemnification coverages (b) 24 21 22 JDA revenue (c) 51 133 121 JDA expense (c) 183 198 116 Progress Energy Corporate governance and shared services provided by Duke Energy (a) $ 712 $ 732 $ 290 Corporate governance and shared services provided to Duke Energy (d) — — 96 Indemnification coverages (b) 38 33 34 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Progress Corporate governance and shared service expenses (a) $ 403 $ 386 $ 266 Indemnification coverages (b) 16 17 20 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Florida Corporate governance and shared service expenses (a) $ 309 $ 346 $ 182 Indemnification coverages (b) 22 16 14 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 342 $ 316 $ 347 Indemnification coverages (b) 6 13 15 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 349 $ 384 $ 422 Indemnification coverages (b) 9 11 14 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (b) The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. (d) In 2013, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. |
Intercompany Income Tax Receivable | Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables for the subsidiary registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana December 31, 2015 Intercompany income tax receivable $ 122 $ 120 $ 104 $ — $ 54 $ — Intercompany income tax payable — — — 96 — 47 December 31, 2014 Intercompany income tax receivable $ 43 $ 713 $ 267 $ 174 $ 39 $ 95 |
Duke Energy Florida [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 914 $ 851 $ 927 Indemnification coverages (b) 24 21 22 JDA revenue (c) 51 133 121 JDA expense (c) 183 198 116 Progress Energy Corporate governance and shared services provided by Duke Energy (a) $ 712 $ 732 $ 290 Corporate governance and shared services provided to Duke Energy (d) — — 96 Indemnification coverages (b) 38 33 34 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Progress Corporate governance and shared service expenses (a) $ 403 $ 386 $ 266 Indemnification coverages (b) 16 17 20 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Florida Corporate governance and shared service expenses (a) $ 309 $ 346 $ 182 Indemnification coverages (b) 22 16 14 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 342 $ 316 $ 347 Indemnification coverages (b) 6 13 15 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 349 $ 384 $ 422 Indemnification coverages (b) 9 11 14 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (b) The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. (d) In 2013, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. |
Intercompany Income Tax Receivable | Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables for the subsidiary registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana December 31, 2015 Intercompany income tax receivable $ 122 $ 120 $ 104 $ — $ 54 $ — Intercompany income tax payable — — — 96 — 47 December 31, 2014 Intercompany income tax receivable $ 43 $ 713 $ 267 $ 174 $ 39 $ 95 |
Duke Energy Ohio [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 914 $ 851 $ 927 Indemnification coverages (b) 24 21 22 JDA revenue (c) 51 133 121 JDA expense (c) 183 198 116 Progress Energy Corporate governance and shared services provided by Duke Energy (a) $ 712 $ 732 $ 290 Corporate governance and shared services provided to Duke Energy (d) — — 96 Indemnification coverages (b) 38 33 34 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Progress Corporate governance and shared service expenses (a) $ 403 $ 386 $ 266 Indemnification coverages (b) 16 17 20 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Florida Corporate governance and shared service expenses (a) $ 309 $ 346 $ 182 Indemnification coverages (b) 22 16 14 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 342 $ 316 $ 347 Indemnification coverages (b) 6 13 15 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 349 $ 384 $ 422 Indemnification coverages (b) 9 11 14 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (b) The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. (d) In 2013, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. |
Intercompany Income Tax Receivable | Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables for the subsidiary registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana December 31, 2015 Intercompany income tax receivable $ 122 $ 120 $ 104 $ — $ 54 $ — Intercompany income tax payable — — — 96 — 47 December 31, 2014 Intercompany income tax receivable $ 43 $ 713 $ 267 $ 174 $ 39 $ 95 |
Duke Energy Indiana [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 914 $ 851 $ 927 Indemnification coverages (b) 24 21 22 JDA revenue (c) 51 133 121 JDA expense (c) 183 198 116 Progress Energy Corporate governance and shared services provided by Duke Energy (a) $ 712 $ 732 $ 290 Corporate governance and shared services provided to Duke Energy (d) — — 96 Indemnification coverages (b) 38 33 34 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Progress Corporate governance and shared service expenses (a) $ 403 $ 386 $ 266 Indemnification coverages (b) 16 17 20 JDA revenue (c) 183 198 116 JDA expense (c) 51 133 121 Duke Energy Florida Corporate governance and shared service expenses (a) $ 309 $ 346 $ 182 Indemnification coverages (b) 22 16 14 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 342 $ 316 $ 347 Indemnification coverages (b) 6 13 15 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 349 $ 384 $ 422 Indemnification coverages (b) 9 11 14 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (b) The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. (d) In 2013, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. |
Intercompany Income Tax Receivable | Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables for the subsidiary registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana December 31, 2015 Intercompany income tax receivable $ 122 $ 120 $ 104 $ — $ 54 $ — Intercompany income tax payable — — — 96 — 47 December 31, 2014 Intercompany income tax receivable $ 43 $ 713 $ 267 $ 174 $ 39 $ 95 |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts of Outstanding Derivative Positions | The following table shows notional amounts for derivatives related to interest rate risk. December 31, 2015 December 31, 2014 Duke Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Duke Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Energy Energy Florida Ohio Cash flow hedges (a) $ 700 $ — $ — $ — $ — $ — $ 750 $ — $ — $ — Undesignated contracts 1,827 400 500 250 250 27 277 250 250 27 Total notional amount $ 2,527 $ 400 $ 500 $ 250 $ 250 $ 27 $ 1,027 $ 250 $ 250 $ 27 (a) Duke Energy includes amounts related to consolidated Variable Interest Entities (VIEs) of $497 million and $541 million at December 31, 2015 and 2014 , respectively. The tables below show information relating to volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Electricity (gigawatt-hours) 70 — — — — 34 36 Natural gas (millions of decatherms) 398 66 332 117 215 — — December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Electricity (gigawatt-hours) (a)(b) 25,370 — — — — 19,141 — Natural gas (millions of decatherms) (a) 676 35 328 116 212 313 — (a) Duke Energy Ohio includes amounts related to the Disposal Group. Refer to Note 2 for further information on the sale. (b) Amounts at Duke Energy Ohio include intercompany positions that eliminate at Duke Energy. |
Location and Fair Value of Derivatives Recognized in the Consolidated Balance Sheets | The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown. Derivative Assets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Not Designated as Hedging Instruments Current 12 — 1 — 1 3 7 Noncurrent 4 — 4 — 4 — — Total Derivative Assets – Commodity Contracts $ 16 $ — $ 5 $ — $ 5 $ 3 $ 7 Interest Rate Contracts Designated as Hedging Instruments Noncurrent $ 4 $ — $ — $ — $ — $ — $ — Not Designated as Hedging Instruments Current 6 — 6 2 2 — — Total Derivative Assets – Interest Rate Contracts $ 10 $ — $ 6 $ 2 $ 2 $ — $ — Total Derivative Assets $ 26 $ — $ 11 $ 2 $ 7 $ 3 $ 7 Derivative Liabilities December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Not Designated as Hedging Instruments Current $ 256 $ 32 $ 222 $ 77 $ 145 $ — $ — Noncurrent 100 8 92 16 71 — — Total Derivative Liabilities – Commodity Contracts $ 356 $ 40 $ 314 $ 93 $ 216 $ — $ — Interest Rate Contracts Designated as Hedging Instruments Current $ 11 $ — $ — $ — $ — $ — $ — Noncurrent 33 — — — — — — Not Designated as Hedging Instruments Current 4 — 3 — — 1 — Noncurrent 15 5 5 5 — 6 — Total Derivative Liabilities – Interest Rate Contracts $ 63 $ 5 $ 8 $ 5 $ — $ 7 $ — Total Derivative Liabilities $ 419 $ 45 $ 322 $ 98 $ 216 $ 7 $ — Derivative Assets December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Not Designated as Hedging Instruments Current Assets: Other $ 18 $ — $ — $ — $ — $ 1 $ 14 Current Assets: Assets held for sale 15 — — — — 28 — Investments and Other Assets: Other 3 — — — — — — Investments and Other Assets: Assets held for sale 15 — — — — 26 — Current Liabilities: Other 1 — — — — — — Current Liabilities: Assets held for sale 174 — — — — 175 — Deferred Credits and Other Liabilities: Other 2 — — — — — — Deferred Credits and Other Liabilities: Assets held for sale 111 — — — — 111 — Total Derivative Assets – Commodity Contracts $ 339 $ — $ — $ — $ — $ 341 $ 14 Interest Rate Contracts Designated as Hedging Instruments Investments and Other Assets: Other 10 — — — — — — Not Designated as Hedging Instruments Current Assets: Other 2 — 2 — 2 — — Total Derivative Assets – Interest Rate Contracts $ 12 $ — $ 2 $ — $ 2 $ — $ — Total Derivative Assets $ 351 $ — $ 2 $ — $ 2 $ 341 $ 14 Derivative Liabilities December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Commodity Contracts Designated as Hedging Instruments Current Liabilities: Other $ — $ — $ 1 $ 1 $ — $ — $ — Not Designated as Hedging Instruments Current Assets: Assets held for sale — — — — — 4 — Investments and Other Assets: Assets held for sale — — — — — 4 — Current Liabilities: Other 307 14 288 108 180 — — Current Liabilities: Assets held for sale 253 — — — — 252 — Deferred Credits and Other Liabilities: Other 91 5 80 23 57 — — Deferred Credits and Other Liabilities: Assets held for sale 208 — — — — 207 — Total Derivative Liabilities – Commodity Contracts $ 859 $ 19 $ 369 $ 132 $ 237 $ 467 $ — Interest Rate Contracts Designated as Hedging Instruments Current Liabilities: Other $ 13 $ — $ — $ — $ — $ — $ — Deferred Credits and Other Liabilities: Other 29 — — — — — — Not Designated as Hedging Instruments Current Liabilities: Other 1 — — — — 1 — Deferred Credits and Other Liabilities: Other 7 — 2 — 2 5 — Total Derivative Liabilities – Interest Rate Contracts $ 50 $ — $ 2 $ — $ 2 $ 6 $ — Total Derivative Liabilities $ 909 $ 19 $ 371 $ 132 $ 239 $ 473 $ — |
Offsetting Assets | Derivative Assets December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current (a) Gross amounts recognized $ 210 $ — $ 2 $ — $ 2 $ 204 $ 14 Gross amounts offset (153 ) — (2 ) — (2 ) (179 ) — Net amounts subject to master netting 57 — — — — 25 14 Amounts not subject to master netting — — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 57 $ — $ — $ — $ — $ 25 $ 14 Noncurrent (b) Gross amounts recognized $ 136 $ — $ — $ — $ — $ 137 $ — Gross amounts offset (88 ) — — — — (114 ) — Net amounts subject to master netting 48 — — — — 23 — Amounts not subject to master netting 5 — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 53 $ — $ — $ — $ — $ 23 $ — (a) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Current Assets on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Assets held for sale within Current Assets on the Condensed Consolidated Balance Sheets. (b) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Investments and Other Assets on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Assets held for sale within Investments and Other Assets on the Condensed Consolidated Balance Sheets. The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The Gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below. Derivative Assets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current Gross amounts recognized $ 18 $ — $ 7 $ 2 $ 3 $ 3 $ 7 Gross amounts offset (3 ) — (2 ) — (2 ) — — Net amounts presented in Current Assets: Other $ 15 $ — $ 5 $ 2 $ 1 $ 3 $ 7 Noncurrent Gross amounts recognized $ 8 $ — $ 4 $ — $ 4 $ — $ — Gross amounts offset (4 ) — (4 ) — (4 ) — — Net amounts presented in Investments and Other Assets: Other $ 4 $ — $ — $ — $ — $ — $ — |
Offsetting Liabilities | Derivative Liabilities December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current Gross amounts recognized $ 271 $ 32 $ 225 $ 77 $ 145 $ 1 $ — Gross amounts offset (22 ) — (21 ) (1 ) (20 ) — — Net amounts presented in Current Liabilities: Other $ 249 $ 32 $ 204 $ 76 $ 125 $ 1 $ — Noncurrent Gross amounts recognized $ 148 $ 13 $ 97 $ 21 $ 71 $ 6 $ — Gross amounts offset (16 ) — (15 ) — (15 ) — — Net amounts presented in Deferred Credits and Other Liabilities: Other $ 132 $ 13 $ 82 $ 21 $ 56 $ 6 $ — Derivative Liabilities December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current (c) Gross amounts recognized $ 573 $ 14 $ 289 $ 109 $ 180 $ 257 $ — Gross amounts offset (213 ) — (17 ) — (17 ) (222 ) — Net amounts subject to master netting 360 14 272 109 163 35 — Amounts not subject to master netting 1 — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 361 $ 14 $ 272 $ 109 $ 163 $ 35 $ — Noncurrent (d) Gross amounts recognized $ 319 $ 5 $ 82 $ 23 $ 59 $ 216 $ — Gross amounts offset (173 ) — (8 ) — (8 ) (193 ) — Net amounts subject to master netting 146 5 74 23 51 23 — Amounts not subject to master netting 16 — — — — — — Net amounts recognized on the Condensed Consolidated Balance Sheet $ 162 $ 5 $ 74 $ 23 $ 51 $ 23 $ — (c) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Current Liabilities on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Liabilities associated with assets held for sale within Current Liabilities on the Condensed Consolidated Balance Sheets. (d) Amounts for Duke Energy Registrants, except Duke Energy and Duke Energy Ohio, are included in Other within Deferred Credits and Other Liabilities on the Condensed Consolidated Balance Sheets. Amounts for Duke Energy and Duke Energy Ohio are included in Other and Liabilities associated with assets held for sale within Deferred Credits and Other Liabilities on the Condensed Consolidated Balance Sheets. |
Derivative Contracts with Contingent Credit Features | The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit-risk-related payment provisions. Amounts for Duke Energy Indiana were not material. December 31, 2015 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Aggregate fair value of derivatives in a net liability position $ 334 $ 45 $ 290 $ 93 $ 194 $ — Fair value of collateral already posted 30 — 30 — 30 — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 304 45 260 93 164 — December 31, 2014 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio (a) Aggregate fair value of derivatives in a net liability position $ 845 $ 19 $ 370 $ 131 $ 239 $ 456 Fair value of collateral already posted 209 — 23 — 23 186 Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 407 19 347 131 216 41 (a) Duke Energy Ohio includes amounts related to the Disposal Group for the year ended December 31, 2014. The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative must be executed with the same counterparty under the same master netting arrangement. Amounts disclosed below represent the receivables related to the right to reclaim cash collateral under master netting arrangements. December 31, 2015 December 31, 2014 (in millions) Receivables Receivables Duke Energy Amounts offset against net derivative positions $ 30 $ 145 Amounts not offset against net derivative positions — 64 Progress Energy Amounts offset against net derivative positions 30 23 Duke Energy Florida Amounts offset against net derivative positions 30 23 Duke Energy Ohio Amounts offset against net derivative positions — 122 Amounts not offset against net derivative positions — 64 |
Investments in Debt and Equit49
Investments in Debt and Equity Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 179 $ — $ — $ 136 Equity securities 1,823 58 3,590 1,926 29 3,650 Corporate debt securities 7 8 432 14 2 454 Municipal bonds 5 1 185 5 — 184 U.S. government bonds 11 5 1,254 19 2 978 Other debt securities — 4 177 1 2 147 Total NDTF (c) $ 1,846 $ 76 $ 5,817 $ 1,965 $ 35 $ 5,549 Other Investments Cash and cash equivalents $ — $ — $ 29 $ — $ — $ 15 Equity securities 32 1 95 34 — 96 Corporate debt securities 1 3 92 1 1 58 Municipal bonds 3 1 74 3 1 76 U.S. government bonds — — 45 — — 27 Other debt securities — 2 62 1 1 80 Total Other Investments (a) $ 36 $ 7 $ 397 $ 39 $ 3 $ 352 Total Investments $ 1,882 $ 83 $ 6,214 $ 2,004 $ 38 $ 5,901 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts are considered other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) The increase in estimated fair value of the NDTF as of December 31, 2015 , is primarily due to NDTF assets acquired with the purchase of NCEMPA's ownership interest in certain generating assets and the NDTF assets acquired in a settlement with FMJO. This is partially offset due to reimbursements from the NDTF for Duke Energy Florida's costs related to ongoing decommissioning activity of the Crystal River Unit 3 Nuclear Plant. Refer to Note 2 for further information. |
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less 120 Due after one through five years 775 Due after five through 10 years 598 Due after 10 years 828 Total 2,321 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 193 $ 271 $ 209 Realized losses 98 105 65 |
Duke Energy Carolinas [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 34 $ — $ — $ 51 Equity securities 1,021 27 2,094 1,102 17 2,162 Corporate debt securities 3 5 292 8 2 316 Municipal bonds 1 — 33 1 — 62 U.S. government bonds 3 3 438 7 1 308 Other debt securities — 4 147 1 2 133 Total NDTF $ 1,028 $ 39 $ 3,038 $ 1,119 $ 22 $ 3,032 Other Investments Other debt securities $ — $ 1 $ 3 $ — $ 1 $ 3 Total Other Investments (a) $ — $ 1 $ 3 $ — $ 1 $ 3 Total Investments $ 1,028 $ 40 $ 3,041 $ 1,119 $ 23 $ 3,035 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. |
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 13 Due after one through five years 187 Due after five through 10 years 275 Due after 10 years 438 Total $ 913 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 158 $ 109 $ 115 Realized losses 83 93 12 |
Progress Energy [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 145 $ — $ — $ 85 Equity securities 802 31 1,496 824 12 1,488 Corporate debt securities 4 3 140 6 — 138 Municipal bonds 4 1 152 4 — 122 U.S. government bonds 8 2 816 12 1 670 Other debt securities — — 30 — — 14 Total NDTF (c) $ 818 $ 37 $ 2,779 $ 846 $ 13 $ 2,517 Other Investments Cash and cash equivalents $ — $ — $ 18 $ — $ — $ 15 Municipal bonds 3 — 45 3 — 43 Total Other Investments (a) $ 3 $ — $ 63 $ 3 $ — $ 58 Total Investments $ 821 $ 37 $ 2,842 $ 849 $ 13 $ 2,575 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts are considered other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) The increase in estimated fair value of the NDTF as of December 31, 2015 , is primarily due to NDTF assets acquired with the purchase of NCEMPA's ownership interest in certain generating assets and the NDTF assets acquired in a settlement with FMJO. This is partially offset due to reimbursements from the NDTF for Duke Energy Florida's costs related to ongoing decommissioning activity of the Crystal River Unit 3 Nuclear Plant. Refer to Note 2 for further information. |
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 94 Due after one through five years 496 Due after five through 10 years 254 Due after 10 years 339 Total $ 1,183 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 33 $ 157 $ 90 Realized losses 13 11 46 |
Duke Energy Progress [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 110 $ — $ — $ 50 Equity securities 596 25 1,178 612 10 1,171 Corporate debt securities 3 2 96 5 — 97 Municipal bonds 4 1 150 4 — 120 U.S. government bonds 6 2 486 9 1 265 Other debt securities — — 18 — — 8 Total NDTF (c) $ 609 $ 30 $ 2,038 $ 630 $ 11 $ 1,711 Other Investments Cash and cash equivalents $ — $ — $ 1 $ — $ — $ — Total Other Investments (a) $ — $ — $ 1 $ — $ — $ — Total Investments $ 609 $ 30 $ 2,039 $ 630 $ 11 $ 1,711 (a) These amounts are recorded in Other with Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) As of December 31, 2015 , the estimated fair value of the NDTF includes NDTF assets acquired with the purchase of NCEMPA's ownership interest in certain generating assets. Refer to Note 2 for further information. |
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 15 Due after one through five years 285 Due after five through 10 years 206 Due after 10 years 244 Total $ 750 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 26 $ 19 $ 58 Realized losses 11 5 26 |
Duke Energy Florida [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value NDTF Cash and cash equivalents $ — $ — $ 35 $ — $ — $ 35 Equity securities 206 6 318 212 2 317 Corporate debt securities 1 1 44 1 — 41 Municipal bonds — — 2 — — 2 U.S. government bonds 2 — 330 3 — 405 Other debt securities — — 12 — — 6 Total NDTF (c) $ 209 $ 7 $ 741 $ 216 $ 2 $ 806 Other Investments Cash and cash equivalents $ — $ — $ 6 $ — $ — $ 1 Municipal bonds 3 — 45 3 — 43 Total Other Investments (a) $ 3 $ — $ 51 $ 3 $ — $ 44 Total Investments $ 212 $ 7 $ 792 $ 219 $ 2 $ 850 (a) These amounts are recorded in Other with Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. (c) The decrease in estimated fair value of the NDTF as of December 31, 2015 , is primarily due to reimbursements from the NDTF for costs related to ongoing decommissioning activity of the Crystal River Unit 3 Nuclear Plant, partially offset by the NDTF asset acquired in a settlement with FMJO. Refer to Note 2 for further information. |
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 79 Due after one through five years 211 Due after five through 10 years 48 Due after 10 years 95 Total $ 433 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. Years Ended December 31, (in millions) 2015 2014 2013 Realized gains $ 7 $ 138 $ 32 Realized losses 2 5 20 |
Duke Energy Indiana [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. December 31, 2015 December 31, 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses (b) Fair Value Gains Losses (b) Fair Value Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ — Equity securities 27 — 71 28 — 71 Corporate debt securities — — 2 — — — Municipal bonds — 1 26 — 1 30 Total Other Investments (a) $ 27 $ 1 $ 101 $ 28 $ 1 $ 101 Total Investments $ 27 $ 1 $ 101 $ 28 $ 1 $ 101 (a) These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Substantially all these amounts represent other-than-temporary impairments on investments within Investment Trusts that have been recognized immediately as a regulatory asset. |
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2015 Due in one year or less $ 2 Due after one through five years 14 Due after five through 10 years 9 Due after 10 years 3 Total $ 28 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 3,590 $ 3,418 $ — $ — $ 172 Nuclear decommissioning trust fund debt securities 2,227 672 1,555 — Other available-for-sale equity securities 95 95 — — — Other available-for-sale debt securities 302 75 222 5 Derivative assets 26 — 16 10 Total assets 6,240 4,260 1,793 15 172 Derivative liabilities (419 ) — (419 ) — Net assets $ 5,821 $ 4,260 $ 1,374 $ 15 $ 172 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 3,650 $ 3,493 $ 6 $ — $ 151 Nuclear decommissioning trust fund debt securities 1,899 648 1,251 — Other trading and available-for-sale equity securities 96 96 — — — Other trading and available-for-sale debt securities 263 41 217 5 Derivative assets 110 49 24 37 Total assets 6,018 4,327 1,498 42 151 Derivative liabilities (668 ) (162 ) (468 ) (38 ) Net assets $ 5,350 $ 4,165 $ 1,030 $ 4 $ 151 |
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs | The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Amounts included in earnings for derivatives are primarily included in Operating Revenues. December 31, 2015 Derivatives (in millions) Investments (net) Total Balance at beginning of period $ 5 $ (1 ) $ 4 Total pretax realized or unrealized gains (losses) included in earnings — 21 21 Purchases, sales, issuances and settlements: Purchases — 24 24 Sales — (1 ) (1 ) Settlements — (37 ) (37 ) Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities — 4 4 Balance at end of period $ 5 $ 10 $ 15 December 31, 2014 Derivatives (in millions) Investments (net) Total Balance at beginning of period $ 20 $ 13 $ 33 Total pretax realized or unrealized gains (losses) included in earnings — (7 ) (7 ) Purchases, sales, issuances and settlements: Purchases — 50 50 Sales (15 ) — (15 ) Settlements — (54 ) (54 ) Net transfers In (Out) of Level 3 due to observability of inputs — 6 6 Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities — (9 ) (9 ) Balance at end of period $ 5 $ (1 ) $ 4 Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding $ — $ (14 ) $ (14 ) |
Schedule of Long-term debt, including current | The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements. December 31, 2015 December 31, 2014 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy $ 39,569 $ 42,537 $ 39,868 $ 44,566 Duke Energy Carolinas 8,367 9,156 8,353 9,626 Progress Energy 14,464 15,856 14,668 16,951 Duke Energy Progress 6,518 6,757 6,170 6,696 Duke Energy Florida 4,266 4,908 4,823 5,767 Duke Energy Ohio 1,598 1,724 1,760 1,970 Duke Energy Indiana 3,768 4,219 3,769 4,456 |
Quantitative Information Table - Level 3 | The following table includes quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. December 31, 2015 Fair Value Investment Type (in millions) Valuation Technique Unobservable Input Range Duke Energy Financial transmission rights (FTRs) $ 10 RTO auction pricing FTR price – per Megawatt-Hour (MWh) $ (0.74 ) - 7.29 Duke Energy Ohio FTRs $ 3 RTO auction pricing FTR price – per MWh $ 0.67 - 2.53 Duke Energy Indiana FTRs $ 7 RTO auction pricing FTR price – per MWh $ (0.74 ) - 7.29 December 31, 2014 Fair Value Investment Type (in millions) Valuation Technique Unobservable Input Range Duke Energy Natural gas contracts $ (5 ) Discounted cash flow Forward natural gas curves – price per Million British Thermal Unit (MMBtu) $ 2.12 - 4.35 FTRs 14 RTO auction pricing FTR price – per MWh (1.92 ) - 9.86 Electricity contracts (1 ) Discounted cash flow Forward electricity curves – price per MWh 25.16 - 51.75 Commodity capacity option contracts 2 Discounted cash flow Forward capacity option curves – price per MW day 21.00 - 109.00 Reserves (11 ) Bid-ask spreads, implied volatility, probability of default Total Level 3 derivatives $ (1 ) Duke Energy Ohio Electricity contracts $ (6 ) Discounted cash flow Forward electricity curves – price per MWh $ 25.25 - 51.75 Natural gas contracts (5 ) Discounted cash flow Forward natural gas curves – price per MMBtu 2.12 - 4.35 Reserves (7 ) Bid-ask spreads, implied volatility, probability of default Total Level 3 derivatives $ (18 ) Duke Energy Indiana FTRs $ 14 RTO auction pricing FTR price – per MWh $ (1.92 ) - 9.86 |
Duke Energy Carolinas [Member] | |
Fair Value Disclosures [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 2,094 $ 1,922 $ — $ — $ 172 Nuclear decommissioning trust fund debt securities 944 246 698 — Other available-for-sale debt securities 3 — — 3 Total assets 3,041 2,168 698 3 172 Derivative liabilities (45 ) — (45 ) — Net assets $ 2,996 $ 2,168 $ 653 $ 3 $ 172 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not categorized Nuclear decommissioning trust fund equity securities $ 2,162 $ 2,005 $ 6 $ — $ 151 Nuclear decommissioning trust fund debt securities 870 138 732 — Other trading and available-for-sale debt securities 3 — — 3 Total assets 3,035 2,143 738 3 151 Derivative liabilities (19 ) — (19 ) — Net assets $ 3,016 $ 2,143 $ 719 $ 3 $ 151 |
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs | The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. There was no change to the Level 3 balance during the year ended December 31, 2015. December 31, 2014 Derivatives (in millions) Investments (net) Total Balance at beginning of period $ 3 $ (2 ) $ 1 Settlements — 2 2 Balance at end of period $ 3 $ — $ 3 |
Progress Energy [Member] | |
Fair Value Disclosures [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,496 $ 1,496 $ — $ — Nuclear decommissioning trust fund debt securities 1,283 426 857 — Other available-for-sale debt securities 63 18 45 — Derivative assets 11 — 11 — Total assets 2,853 1,940 913 — Derivative liabilities (322 ) — (322 ) — Net assets $ 2,531 $ 1,940 $ 591 $ — December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,488 $ 1,488 $ — $ — Nuclear decommissioning trust fund debt securities 1,029 510 519 — Other trading and available-for-sale debt securities 58 15 43 — Derivative assets 4 — 4 — Total assets 2,579 2,013 566 — Derivative liabilities (373 ) — (373 ) — Net assets $ 2,206 $ 2,013 $ 193 $ — |
Duke Energy Progress [Member] | |
Fair Value Disclosures [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,178 $ 1,178 $ — $ — Nuclear decommissioning trust fund debt securities and other 860 141 719 — Other available-for-sale debt securities and other 1 1 — — Derivative assets 2 — 2 — Total assets 2,041 1,320 721 — Derivative liabilities (98 ) — (98 ) — Net assets $ 1,943 $ 1,320 $ 623 $ — December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 1,171 $ 1,171 $ — $ — Nuclear decommissioning trust fund debt securities and other 540 151 389 — Total assets 1,711 1,322 389 — Derivative liabilities (132 ) — (132 ) — Net assets $ 1,579 $ 1,322 $ 257 $ — |
Duke Energy Florida [Member] | |
Fair Value Disclosures [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 318 $ 318 $ — $ — Nuclear decommissioning trust fund debt securities and other 423 285 138 — Other available-for-sale debt securities and other 51 6 45 — Derivative assets 7 — 7 — Total assets 799 609 190 — Derivative liabilities (216 ) — (216 ) — Net assets (liabilities) $ 583 $ 609 $ (26 ) $ — December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Nuclear decommissioning trust fund equity securities $ 317 $ 317 $ — $ — Nuclear decommissioning trust fund debt securities and other 489 359 130 — Other trading and available-for-sale debt securities and other 44 — 44 — Derivative assets 4 — 4 — Total assets 854 676 178 — Derivative liabilities (241 ) — (241 ) — Net assets (liabilities) $ 613 $ 676 $ (63 ) $ — |
Duke Energy Ohio [Member] | |
Fair Value Disclosures [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which are disclosed in Note 14 . December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Derivative assets $ 3 $ — $ — $ 3 Derivative liabilities (7 ) — (7 ) — Net assets (liabilities) $ (4 ) $ — $ (7 ) $ 3 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Derivative assets $ 49 $ 20 $ 9 $ 20 Derivative liabilities (181 ) (117 ) (26 ) (38 ) Net assets (liabilities) $ (132 ) $ (97 ) $ (17 ) $ (18 ) |
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs | The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Derivatives (net) Years Ended December 31, (in millions) 2015 2014 Balance at beginning of period $ (18 ) $ (4 ) Total pretax realized or unrealized gains (losses) included in earnings 21 (9 ) Purchases, sales, issuances and settlements: Purchases 5 1 Settlements (5 ) (13 ) Net transfers In (Out) of Level 3 due to observability of inputs — 6 Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities — 1 Balance at end of period $ 3 $ (18 ) |
Duke Energy Indiana [Member] | |
Fair Value Disclosures [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14 . See Note 15 for additional information related to investments by major security type. December 31, 2015 (in millions) Total Fair Value Level 1 Level 2 Level 3 Other available-for-sale equity securities $ 71 $ 71 $ — $ — Other available-for-sale debt securities and other 30 2 28 — Derivative assets 7 — — 7 Net assets (liabilities) $ 108 $ 73 $ 28 $ 7 December 31, 2014 (in millions) Total Fair Value Level 1 Level 2 Level 3 Other trading and available-for-sale equity securities $ 71 $ 71 $ — $ — Other trading and available-for-sale debt securities and other 30 — 30 — Derivative assets 14 — — 14 Net assets (liabilities) $ 115 $ 71 $ 30 $ 14 |
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs | The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Derivatives (net) Years Ended December 31, (in millions) 2015 2014 Balance at beginning of period $ 14 $ 12 Total pretax realized or unrealized gains included in earnings — 3 Purchases, sales, issuances and settlements: Purchases 19 49 Settlements (30 ) (41 ) Total gains (losses) included on the Consolidated Balance Sheet as regulatory assets or liabilities 4 (9 ) Balance at end of period $ 7 $ 14 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Variable Interest Entity, Primary Beneficiary [Member] | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | The following table outlines amounts and expiration dates of the credit facilities. DERF DEPR DEFR Credit facility amount (in millions) $ 425 $ 300 $ 225 Expiration date December 2018 February 2019 March 2017 The following tables summarize the impact of VIEs consolidated by Duke Energy and the Subsidiary Registrants on the Consolidated Balance Sheets. December 31, 2015 Duke Energy Duke Duke Duke Energy Energy Energy Carolinas Progress Florida (in millions) DERF DEPR (c) DEFR (c) CRC Renewables Other Total ASSETS Current Assets Cash and Cash Equivalents $ — $ — $ — $ — $ — $ 2 $ 2 Restricted receivables of variable interest entities (net of allowance for doubtful accounts) 596 349 309 454 19 21 1,748 Other — — — — 138 4 142 Investments and Other Assets Other — — — — 70 — 70 Property, Plant and Equipment Property, plant and equipment, cost (a) — — — — 2,015 20 2,035 Accumulated depreciation and amortization — — — — (321 ) (6 ) (327 ) Total assets $ 596 $ 349 $ 309 $ 454 $ 1,921 $ 41 $ 3,670 LIABILITIES AND EQUITY Current Liabilities Accounts payable — — — — 35 — 35 Taxes accrued 5 3 — — 5 1 14 Current maturities of long-term debt — — — — 108 17 125 Other — — — — 15 2 17 Long-Term Debt (b) 425 254 225 325 968 — 2,197 Deferred Credits and Other Liabilities Deferred income taxes — — — — 289 — 289 Asset retirement obligations — — — — 35 — 35 Other — — — — 33 — 33 Total liabilities $ 430 $ 257 $ 225 $ 325 $ 1,488 $ 20 $ 2,745 Net assets of consolidated variable interest entities $ 166 $ 92 $ 84 $ 129 $ 433 $ 21 $ 925 December 31, 2014 Duke Energy Duke Duke Duke Energy Energy Energy Carolinas Progress Florida (in millions) DERF DEPR (c) DEFR (c) CRC Renewables Other Total ASSETS Current Assets Restricted receivables of variable interest entities (net of allowance for doubtful accounts) $ 647 $ 436 $ 305 $ 547 $ 20 $ 18 $ 1,973 Other — — — — 68 6 74 Investments and Other Assets Other — — — — 25 25 50 Property, Plant and Equipment Property, plant and equipment, cost (a) — — — — 1,855 18 1,873 Accumulated depreciation and amortization — — — — (250 ) (5 ) (255 ) Regulatory Assets and Deferred Debits Other — — — — 34 2 36 Total assets $ 647 $ 436 $ 305 $ 547 $ 1,752 $ 64 $ 3,751 LIABILITIES AND EQUITY Current Liabilities Accounts payable — — — 3 — 3 Taxes accrued — — — 6 — 6 Current maturities of long-term debt — — — 68 16 84 Other — — — 16 5 21 Long-Term Debt (b) 400 300 225 325 967 17 2,234 Deferred Credits and Other Liabilities Deferred income taxes — — — 283 — 283 Asset retirement obligations — — — 29 — 29 Other — — — 34 4 38 Total liabilities $ 400 $ 300 $ 225 $ 325 $ 1,406 $ 42 $ 2,698 Net assets of consolidated variable interest entities $ 247 $ 136 $ 80 $ 222 $ 346 $ 22 $ 1,053 (a) Restricted as collateral for non-recourse debt of VIEs. (b) Non-recourse to the general assets of the applicable registrant. (c) The amount for Progress Energy is equal to the total amount for Duke Energy Progress and Duke Energy Florida. |
Variable Interest Entity, Not Primary Beneficiary [Member] | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | The tables below show VIEs not consolidated and how these entities impact the Consolidated Balance Sheets. December 31, 2015 Duke Energy Duke Duke Energy Energy (in millions) Renewables Other Total Ohio Indiana Receivables $ — $ — $ — $ 47 $ 60 Investments in equity method unconsolidated affiliates 235 152 387 — — Total assets $ 235 $ 152 $ 387 $ 47 $ 60 Other current liabilities — 3 3 — — Deferred credits and other liabilities — 14 14 — — Total liabilities $ — $ 17 $ 17 $ — $ — Net assets (liabilities) $ 235 $ 135 $ 370 $ 47 $ 60 December 31, 2014 Duke Energy Duke Duke Energy Energy (in millions) Renewables Other Total Ohio Indiana Receivables $ — $ — $ — $ 91 $ 113 Investments in equity method unconsolidated affiliates 150 38 188 — — Intangibles — — — — — Investments and other assets — 4 4 — — Total assets $ 150 $ 42 $ 192 $ 91 $ 113 Other current liabilities — 3 3 — — Deferred credits and other liabilities — 14 14 — — Total liabilities $ — $ 17 $ 17 $ — $ — Net assets $ 150 $ 25 $ 175 $ 91 $ 113 |
Cinergy Receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | Key assumptions used in estimating fair value are detailed in the following table. Duke Energy Ohio Duke Energy Indiana 2015 2014 2015 2014 Anticipated credit loss ratio 0.6 % 0.6 % 0.3 % 0.3 % Discount rate 1.2 % 1.2 % 1.2 % 1.2 % Receivable turnover rate 12.9 % 12.8 % 10.6 % 10.5 % The following table shows the gross and net receivables sold. Duke Energy Ohio Duke Energy Indiana (in millions) 2015 2014 2015 2014 Receivables sold $ 233 $ 273 $ 260 $ 310 Less: Retained interests 47 91 60 113 Net receivables sold $ 186 $ 182 $ 200 $ 197 The following table shows sales and cash flows related to receivables sold. Duke Energy Ohio Duke Energy Indiana Years Ended December 31, Years Ended December 31, (in millions) 2015 2014 2013 2015 2014 2013 Sales Receivables sold $ 1,963 $ 2,246 $ 2,251 $ 2,627 $ 2,913 $ 2,985 Loss recognized on sale 9 11 12 11 11 11 Cash Flows Cash proceeds from receivables sold 1,995 2,261 2,220 2,670 2,932 2,944 Collection fees received 1 1 1 1 1 1 Return received on retained interests 3 4 5 5 6 6 |
Common Stock (Tables)
Common Stock (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule Of Earnings Per Share | The following table presents Duke Energy’s basic and diluted EPS calculations and reconciles the weighted average number of common stock outstanding to the diluted weighted average number of common stock outstanding. Years Ended December 31, (in millions, except per share amounts) 2015 2014 2013 Income from continuing operations attributable to Duke Energy common stockholders excluding impact of participating securities $ 2,791 $ 2,446 $ 2,565 Weighted average shares outstanding – basic 694 707 706 Weighted average shares outstanding – diluted 694 707 706 Earnings per share from continuing operations attributable to Duke Energy common stockholders Basic $ 4.02 3.46 3.64 Diluted $ 4.02 3.46 3.63 Potentially dilutive items excluded from the calculation (a) 2 2 2 Dividends declared per common share $ 3.24 3.15 3.09 (a) Performance stock awards and certain stock options were not included in the dilutive securities calculation because either the performance measures related to the awards had not been met or the option exercise prices were greater than the average market price of the common shares during the presented periods. |
Severance (Tables)
Severance (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Severance Expense | The following table presents direct and allocated severance and related expenses recorded by the Duke Energy Registrants associated with this plan. Amounts are included within Operation, maintenance and other on the Consolidated Statements of Operations. Amounts for 2014 and 2015 were not material. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy (a) Carolinas Energy Progress Florida Ohio Indiana Year Ended December 31, 2013 $ 34 $ 8 $ 19 $ 14 $ 5 $ 2 $ 2 (a) Includes $5 million of accelerated stock award expense and $2 million of COBRA and health care reimbursement expense. The following table presents the direct and allocated severance and related expenses recorded by the Duke Energy Registrants associated with these initiatives. Amounts are included within Operation, maintenance and other on the Consolidated Statements of Operations. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Year Ended December 31, 2015 $ 142 $ 93 $ 36 $ 28 $ 8 $ 2 $ 6 |
Schedule of Severance Liability | The table below presents the severance liability for past and ongoing severance plans including the plans described above. Amounts for Duke Energy Indiana and Duke Energy Ohio are not material. Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Balance at December 31, 2014 $ 28 $ 2 $ 18 $ 1 $ 17 Provision/Adjustments 144 80 20 20 — Cash Reductions (36 ) (4 ) (15 ) (2 ) (13 ) Balance at December 31, 2015 $ 136 $ 78 $ 23 $ 19 $ 4 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Total Stock-Based Compensation Expense, net of tax | The following table summarizes the total expense recognized by the Duke Energy Registrants, net of tax, for stock-based compensation. Years Ended December 31, (in millions) 2015 2014 2013 Duke Energy $ 38 $ 38 $ 52 Duke Energy Carolinas 14 12 13 Progress Energy 14 14 23 Duke Energy Progress 9 9 14 Duke Energy Florida 5 5 9 Duke Energy Ohio 2 5 4 Duke Energy Indiana 4 3 4 |
Schedule Of Stock-Based Compensation Expense | Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense, and stock-based compensation costs capitalized are included in the following table. Years Ended December 31, (in millions) 2015 2014 2013 Restricted stock unit awards $ 38 $ 39 $ 49 Performance awards 23 22 34 Stock options — — 2 Pretax stock-based compensation cost $ 61 $ 61 $ 85 Tax benefit associated with stock-based compensation expense $ 23 $ 23 $ 33 Stock-based compensation costs capitalized 3 4 3 |
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes information about stock options outstanding. Weighted Average Stock Options Exercise Price Weighted Average (in thousands) (per share) Remaining Life Outstanding at December 31, 2014 373 $ 64 Exercised (270 ) 62 Outstanding at December 31, 2015 (a) 103 69 7 years, 2 months (a) Outstanding stock options all vested on January 1, 2016. |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Exercises | The following table summarizes additional information related to stock options exercised and granted. Years Ended December 31, 2015 2014 2013 Intrinsic value of options exercised (in millions) $ 5 $ 6 $ 26 Tax benefit related to options exercised (in millions) 2 2 10 Cash received from options exercised (in millions) 17 25 9 Stock options granted (in thousands) (a) — — 310 (a) Stock options granted in 2013 were expensed immediately. |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | The following table includes information related to restricted stock unit awards. Years Ended December 31, 2015 2014 2013 Shares awarded (in thousands) 524 557 612 Fair value (in millions) $ 41 $ 40 $ 42 The following table summarizes information about restricted stock unit awards outstanding. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2014 1,080 $ 69 Granted 524 79 Vested (602 ) 68 Forfeited (49 ) 73 Outstanding at December 31, 2015 953 75 Restricted stock unit awards expected to vest 924 75 |
Schedule of Performance Awards | The following table includes information related to stock-based performance awards. Years Ended December 31, 2015 2014 2013 Shares awarded (in thousands) 642 542 633 Fair value (in millions) $ 26 $ 19 $ 28 |
Schedule of Nonvested Performance-based Units Activity | The following table summarizes information about stock-based performance awards outstanding and assumes payout at the maximum level. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2014 1,627 $ 42 Granted 642 41 Vested (271 ) 51 Forfeited (301 ) 38 Outstanding at December 31, 2015 1,697 40 Stock-based performance awards expected to vest 1,301 40 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension Plan Contributions | Duke Energy’s policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants’ contributions to its U.S. qualified defined benefit pension plans. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Anticipated Contributions: 2016 $ 145 $ 43 $ 43 $ 24 $ 20 $ 4 $ 9 Contributions Made: 2015 $ 302 $ 91 $ 83 $ 42 $ 40 $ 8 $ 19 2014 — — — — — — — 2013 250 — 250 63 133 — — |
Employee Savings Plan Matching Contributions | The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Years ended December 31, 2015 (a) $ 159 $ 54 $ 48 $ 34 $ 13 $ 3 $ 7 2014 (a) 143 47 43 30 14 3 7 2013 134 45 45 25 14 3 7 (a) For 2014 and 2015, amounts include the additional employer contribution of 4 percent of eligible pay per pay period for employees not eligible to participate in a defined benefit plan. |
Master Trust [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Fair Value and Allocation of Plan Assets | The following tables provide the fair value measurement amounts for the Duke Energy Master Retirement Trust qualified pension and other post-retirement assets. December 31, 2015 Total Fair Not (in millions) Value Level 1 Level 2 Level 3 Categorized (b) Equity securities $ 2,160 $ 1,470 $ 2 $ — 688 Corporate debt securities 4,362 — 4,362 — — Short-term investment funds 404 192 212 — — Partnership interests 185 — — — 185 Hedge funds 210 — — — 210 Real estate limited partnerships 118 — — — 118 U.S. government securities 748 — 748 — — Guaranteed investment contracts 31 — — 31 — Governments bonds – foreign 34 — 34 — — Cash 10 10 — — — Government and commercial mortgage backed securities 9 — 9 — — Net pending transactions and other investments (28 ) (36 ) 8 — — Total assets (a) $ 8,243 $ 1,636 $ 5,375 $ 31 $ 1,201 (a) Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent , 32 percent , 15 percent , 16 percent , 5 percent and 8 percent , respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2015 . Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. (b) Certain investments are not categorized. These investments are measured based on the fair value of the underlying investments but may not be readily redeemable at that fair value. December 31, 2014 Total Fair Not (in millions) Value Level 1 Level 2 Level 3 Categorized (b) Equity securities $ 2,346 $ 1,625 $ 3 $ — $ 718 Corporate debt securities 4,349 — 4,348 1 — Short-term investment funds 333 171 162 — — Partnership interests 298 — — — 298 Hedge funds 146 — — — 146 Real estate limited partnerships 104 — — — 104 U.S. government securities 917 — 916 1 — Guaranteed investment contracts 32 — — 32 — Governments bonds – foreign 44 — 44 — — Cash 30 30 — — — Government and commercial mortgage backed securities 9 — 9 — — Net pending transactions and other investments 10 (10 ) 20 — — Total assets (a) $ 8,618 $ 1,816 $ 5,502 $ 34 $ 1,266 (a) Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent , 31 percent , 15 percent , 16 percent , 5 percent and 8 percent , respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2014 . Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. (b) Certain investments are not categorized. These investments are measured based on the fair value of the underlying investments but may not be readily redeemable at that fair value. The following table includes the target asset allocations by asset class at December 31, 2015 and the actual asset allocations for the Duke Energy Master Retirement Trust. Actual Allocation at December 31, Target Allocation 2015 2014 U.S. equity securities 10 % 11 % 10 % Non-U.S. equity securities 8 % 8 % 8 % Global equity securities 10 % 10 % 10 % Global private equity securities 3 % 2 % 3 % Debt securities 63 % 63 % 63 % Hedge funds 2 % 2 % 3 % Real estate and cash 2 % 2 % 1 % Other global securities 2 % 2 % 2 % Total 100 % 100 % 100 % |
Master Trust Level 3 Rollforward | The following table provides a reconciliation of beginning and ending balances of assets of master trusts measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3). (in millions) 2015 2014 Balance at January 1 $ 34 $ 37 Sales (2 ) (4 ) Total gains (losses) and other, net (1 ) 1 Balance at December 31 $ 31 $ 34 |
Voluntary Employee Beneficiary Association [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Fair Value and Allocation of Plan Assets | The following table presents target and actual asset allocations for VEBA I at December 31, 2015 . Actual Allocation at Target December 31, Allocation 2015 2014 U.S. equity securities 30 % 29 % 29 % Debt securities 45 % 28 % 28 % Cash 25 % 43 % 43 % Total 100 % 100 % 100 % The following tables provide the fair value measurement amounts for VEBA I other post-retirement assets. December 31, 2015 Total Fair (in millions) Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 18 — $ 18 — Equity securities 12 — 12 — Debt securities 12 — 12 — Total assets $ 42 — $ 42 — December 31, 2014 Total Fair (in millions) Value Level 1 Level 2 Level 3 Cash and cash equivalents $ 21 — $ 21 — Equity securities 14 — 14 — Debt securities 13 — 13 — Total assets $ 48 — $ 48 — |
Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components of Net Periodic Pension Costs | Components of Net Periodic Pension Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 159 $ 50 $ 44 $ 23 $ 20 $ 4 $ 10 Interest cost on projected benefit obligation 324 83 104 48 54 18 27 Expected return on plan assets (516 ) (139 ) (171 ) (79 ) (87 ) (26 ) (42 ) Amortization of actuarial loss 166 39 65 33 31 7 13 Amortization of prior service (credit) cost (15 ) (7 ) (3 ) (2 ) (1 ) — 1 Other 8 2 3 1 1 — 1 Net periodic pension costs (a)(b) $ 126 $ 28 $ 42 $ 24 $ 18 $ 3 $ 10 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 135 $ 41 $ 40 $ 21 $ 20 $ 4 $ 9 Interest cost on projected benefit obligation 344 85 112 54 57 20 29 Expected return on plan assets (511 ) (132 ) (173 ) (85 ) (85 ) (27 ) (41 ) Amortization of actuarial loss 150 36 68 32 32 4 13 Amortization of prior service credit (15 ) (8 ) (3 ) (2 ) (1 ) — — Other 8 2 3 1 1 — 1 Net periodic pension costs (a)(b) $ 111 $ 24 $ 47 $ 21 $ 24 $ 1 $ 11 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 167 $ 49 $ 60 $ 22 $ 30 $ 6 $ 11 Interest cost on projected benefit obligation 320 80 116 50 53 21 28 Expected return on plan assets (549 ) (148 ) (199 ) (94 ) (87 ) (31 ) (46 ) Amortization of actuarial loss 244 60 101 46 49 13 24 Amortization of prior service (credit) cost (11 ) (6 ) (4 ) (1 ) (2 ) — 1 Other 7 2 2 1 1 — 1 Net periodic pension costs (a)(b) $ 178 $ 37 $ 76 $ 24 $ 44 $ 9 $ 19 (a) Duke Energy amounts exclude $9 million , $10 million , and $12 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. (b) Duke Energy Ohio amounts exclude $4 million , $5 million , and $6 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. |
Amounts Recognized in AOCI and Regulatory Assets and Liabilities | Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase $ 173 $ 65 $ 18 $ 14 $ 4 $ 14 $ 11 Accumulated other comprehensive loss (income) Deferred income tax expense $ 6 — 5 — — — — Actuarial losses arising during the year 4 — — — — — — Amortization of prior year service credit 1 — — — — — — Amortization of prior year actuarial losses (11 ) — (4 ) — — — — Transfer with the disposal group 3 Reclassification of actuarial losses to regulatory assets (6 ) — — — — — — Net amount recognized in accumulated other comprehensive income $ (3 ) $ — $ 1 $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase (decrease) $ 112 $ 30 $ (73 ) $ (17 ) $ 11 $ 17 $ 4 Accumulated other comprehensive (income) loss Deferred income tax expense $ (10 ) $ — $ (2 ) $ — $ — $ — $ — Actuarial losses arising during the year 29 — — — — — — Prior year service credit arising during the year — — — — — — — Amortization of prior year actuarial losses (9 ) — — — — — — Reclassification of actuarial losses to regulatory assets (1 ) — — — — — — Net amount recognized in accumulated other comprehensive income $ 9 $ — $ (2 ) $ — $ — $ — $ — |
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Net Amount Recognized Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 8,107 $ 2,053 $ 2,557 $ 1,187 $ 1,335 $ 469 $ 673 Obligation transferred with the Disposal Group (83 ) — — — — — — Service cost 159 50 44 23 20 4 10 Interest cost 324 83 104 48 54 18 27 Actuarial gain (241 ) (53 ) (111 ) (46 ) (62 ) (9 ) (15 ) Transfers — 8 4 7 (3 ) 8 — Plan amendments (6 ) — — — — — (4 ) Benefits paid (533 ) (146 ) (147 ) (76 ) (68 ) (37 ) (42 ) Obligation at measurement date $ 7,727 $ 1,995 $ 2,451 $ 1,143 $ 1,276 $ 453 $ 649 Accumulated Benefit Obligation at measurement date $ 7,606 $ 1,993 $ 2,414 $ 1,143 $ 1,240 $ 442 $ 628 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 8,498 $ 2,300 $ 2,722 $ 1,321 $ 1,363 $ 456 $ 681 Plan assets transferred with the Disposal Group (81 ) — — — — — — Employer contributions 302 91 83 42 40 8 19 Actual return on plan assets (50 ) (10 ) (22 ) (10 ) (11 ) (2 ) (3 ) Benefits paid (533 ) (146 ) (147 ) (76 ) (68 ) (37 ) (42 ) Transfers — 8 4 7 (3 ) 8 — Plan assets at measurement date $ 8,136 $ 2,243 $ 2,640 $ 1,284 $ 1,321 $ 433 $ 655 Funded status of plan $ 409 $ 248 $ 189 $ 141 $ 45 $ (20 ) $ 6 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 7,510 $ 1,875 $ 2,739 $ 1,172 $ 1,233 $ 442 $ 632 Service cost 135 41 40 21 20 4 9 Interest cost 344 85 112 54 57 20 29 Actuarial loss (a) 618 132 211 98 105 41 41 Transfers — 37 (375 ) (61 ) (9 ) (6 ) — Plan amendments (4 ) (1 ) — — — (1 ) — Benefits paid (496 ) (116 ) (170 ) (97 ) (71 ) (31 ) (38 ) Obligation at measurement date $ 8,107 $ 2,053 $ 2,557 $ 1,187 $ 1,335 $ 469 $ 673 Accumulated Benefit Obligation at measurement date $ 7,966 $ 2,052 $ 2,519 $ 1,187 $ 1,297 $ 459 $ 645 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 8,142 $ 2,162 $ 2,944 $ 1,330 $ 1,299 $ 448 $ 654 Actual return on plan assets 852 217 300 149 144 45 65 Benefits paid (496 ) (116 ) (170 ) (97 ) (71 ) (31 ) (38 ) Transfers — 37 (352 ) (61 ) (9 ) (6 ) — Plan assets at measurement date $ 8,498 $ 2,300 $ 2,722 $ 1,321 $ 1,363 $ 456 $ 681 Funded status of plan $ 391 $ 247 $ 165 $ 134 $ 28 $ (13 ) $ 8 (a) Includes an increase in benefit obligation of $180 million as a result of changes in Duke Energy's mortality assumptions. |
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Prefunded pension (a) $ 474 $ 252 $ 232 $ 145 $ 84 $ 1 $ 6 Noncurrent pension liability (b) $ 65 $ 4 $ 43 $ 4 $ 39 $ 21 $ — Net asset recognized $ 409 $ 248 $ 189 $ 141 $ 45 $ (20 ) $ 6 Regulatory assets $ 1,884 $ 472 $ 771 $ 360 $ 410 $ 79 $ 162 Accumulated other comprehensive (income) loss Deferred income tax asset $ (45 ) $ — $ (6 ) $ — $ — $ — $ — Prior service credit (4 ) — — — — — — Net actuarial loss 130 — 17 — — — — Net amounts recognized in accumulated other comprehensive loss (c) $ 81 $ — $ 11 $ — $ — $ — $ — Amounts to be recognized in net periodic pension costs in the next year Unrecognized net actuarial loss $ 132 $ 31 $ 59 $ 25 $ 31 $ 4 $ 11 Unrecognized prior service credit (16 ) (8 ) (3 ) (2 ) (1 ) — — December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Prefunded pension (a) $ 441 $ 247 $ 165 $ 134 $ 28 $ — $ 8 Noncurrent pension liability (b) $ 50 $ — $ — $ — $ — $ 13 $ — Net asset recognized $ 391 $ 247 $ 165 $ 134 $ 28 $ (13 ) $ 8 Regulatory assets $ 1,711 $ 407 $ 753 $ 346 $ 406 $ 65 $ 151 Accumulated other comprehensive (income) loss Deferred income tax asset $ (51 ) $ — $ (11 ) $ — $ — $ — $ — Prior service credit (5 ) — — — — — — Net actuarial loss 140 — 21 — — — — Net amounts recognized in accumulated other comprehensive loss (c) $ 84 $ — $ 10 $ — $ — $ — $ — (a) Included in Other within Investments and Other Assets on the Consolidated Balance Sheets. (b) Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. (c) Excludes accumulated other comprehensive income of $13 million and $22 million as of December 31, 2015 and 2014 , respectively, net of tax, associated with a Brazilian retirement plan. |
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets | December 31, 2014 Duke Duke Energy (in millions) Energy Ohio Projected benefit obligation $ 702 $ 315 Accumulated benefit obligation 672 306 Fair value of plan assets 652 302 Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets December 31, 2015 Duke Duke Duke Progress Energy Energy (in millions) Energy Energy Florida Ohio Projected benefit obligation $ 1,216 $ 611 $ 611 $ 307 Accumulated benefit obligation 1,158 575 575 298 Fair value of plan assets 1,151 574 574 289 |
Assumptions Used for Pension Benefits Accounting | The following tables present the assumptions or range of assumptions used for pension benefit accounting. December 31, 2015 2014 2013 Benefit Obligations Discount rate 4.40% 4.10% 4.70% Salary increase 4.00 % - 4.40% 4.00 % - 4.40% 4.00 % - 4.40% Net Periodic Benefit Cost Discount rate 4.10% 4.70% 4.10% Salary increase 4.00 % - 4.40% 4.00 % - 4.40% 4.00 % - 4.30% Expected long-term rate of return on plan assets 6.50% 6.75% 7.75% |
Expected Benefit Payments | Expected Benefit Payments Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Years ending December 31, 2016 $ 628 $ 189 $ 164 $ 91 $ 71 $ 35 $ 48 2017 639 199 167 92 73 35 47 2018 640 203 169 92 75 34 47 2019 643 202 171 91 77 34 47 2020 641 201 174 92 80 35 47 2021 – 2025 3,053 906 869 438 420 171 230 |
Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components of Net Periodic Pension Costs | Components of Net Periodic Pension Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 3 $ — $ 1 $ — $ — $ — $ — Interest cost on projected benefit obligation 13 1 4 1 2 — — Amortization of actuarial loss 6 — 2 1 2 — 1 Amortization of prior service credit (1 ) — (1 ) — — — — Net periodic pension costs $ 21 $ 1 $ 6 $ 2 $ 4 $ — $ 1 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 3 $ — $ 1 $ 1 $ — $ — $ — Interest cost on projected benefit obligation 14 1 5 1 2 — — Amortization of actuarial loss 3 — 2 — — — — Amortization of prior service credit (1 ) — (1 ) — — — — Net periodic pension costs $ 19 $ 1 $ 7 $ 2 $ 2 $ — $ — Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 3 $ — $ 1 $ 1 $ — $ — $ — Interest cost on projected benefit obligation 13 1 7 1 1 — — Amortization of actuarial loss 5 — 3 1 1 — — Amortization of prior service credit (1 ) — (1 ) — — — — Net periodic pension costs $ 20 $ 1 $ 10 $ 3 $ 2 $ — $ — |
Amounts Recognized in AOCI and Regulatory Assets and Liabilities | Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net (decrease) increase $ (13 ) $ 2 $ (16 ) $ (1 ) $ (15 ) $ — $ (1 ) Accumulated other comprehensive (income) loss Deferred income tax benefit $ (7 ) $ — $ (5 ) $ — $ — $ — $ — Amortization of prior service credit 1 — — — — — — Actuarial gains arising during the year 17 — 13 — — — — Net amount recognized in accumulated other comprehensive loss (income) $ 11 $ — $ 8 $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase $ 44 $ 1 $ 14 $ 4 $ 19 $ 1 $ 2 Regulatory liabilities, net decrease $ (7 ) $ — $ — $ — $ — $ — $ — Accumulated other comprehensive (income) loss Deferred income tax benefit $ 4 $ — $ 5 $ — $ — $ — $ — Actuarial gains arising during the year (9 ) — (11 ) — — — — Net amount recognized in accumulated other comprehensive loss (income) $ (5 ) $ — $ (6 ) $ — $ — $ — $ — |
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Net Amount Recognized Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Service cost 3 — 1 — — — — Interest cost 13 1 4 1 2 — — Actuarial losses (gains) 10 1 (1 ) — (14 ) — — Transfers 4 — — — — — — Benefits paid (26 ) (2 ) (8 ) (3 ) (3 ) — — Obligation at measurement date $ 341 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Accumulated Benefit Obligation at measurement date $ 336 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Change in Fair Value of Plan Assets Plan assets at prior measurement date — — — — — — — Benefits paid (26 ) (2 ) (8 ) (3 ) (3 ) — — Employer contributions 26 2 8 3 3 — — Plan assets at measurement date $ — $ — $ — $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Obligation at prior measurement date $ 304 $ 15 $ 140 $ 34 $ 39 $ 3 $ 5 Service cost 3 — 1 1 — — — Interest cost 14 1 5 1 2 — — Actuarial losses (a) 43 2 11 2 20 1 1 Settlements — — — — — — — Plan amendments — — — — — — — Transfers — — (32 ) — 4 — — Benefits paid (27 ) (2 ) (9 ) (3 ) (4 ) — (1 ) Obligation at measurement date $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Accumulated Benefit Obligation at measurement date $ 333 $ 15 $ 116 $ 35 $ 61 $ 4 $ 5 Change in Fair Value of Plan Assets Plan assets at prior measurement date — — — — — — — Benefits paid (27 ) (2 ) (9 ) (3 ) (4 ) — (1 ) Employer contributions 27 2 9 3 4 — 1 Plan assets at measurement date $ — $ — $ — $ — $ — $ — $ — (a) Includes an increase in benefit obligation of $21 million as a result of changes in Duke Energy's mortality assumptions. |
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current pension liability (a) $ 27 $ 2 $ 8 $ 3 $ 3 $ — $ — Noncurrent pension liability (b) 314 14 104 30 43 4 5 Total accrued pension liability $ 341 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Regulatory assets $ 76 $ 7 $ 16 $ 6 $ 10 $ 1 $ 1 Accumulated other comprehensive (income) loss Deferred income tax liability $ (3 ) $ — $ (3 ) $ — $ — $ — $ — Net actuarial loss 9 — 9 — — — — Net amounts recognized in accumulated other comprehensive income $ 6 $ — $ 6 $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss $ 8 $ — $ 1 $ — $ — $ — $ — Unrecognized prior service credit (1 ) — — — — — — December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current pension liability (a) $ 27 $ 2 $ 8 $ 3 $ 4 $ — $ — Noncurrent pension liability (b) 310 14 108 32 57 4 5 Total accrued pension liability $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Regulatory assets $ 89 $ 5 $ 32 $ 7 $ 25 $ 1 $ 2 Regulatory liabilities $ — $ — $ — $ — $ — $ — $ — Accumulated other comprehensive (income) loss Deferred income tax asset $ 4 $ — $ 2 $ — $ — $ — $ — Prior service credit (1 ) — — — — — — Net actuarial gain (8 ) — (4 ) — — — — Net amounts recognized in accumulated other comprehensive loss $ (5 ) $ — $ (2 ) $ — $ — $ — $ — (a) Included in Other within Current Liabilities on the Consolidated Balance Sheets. (b) Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. |
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets | Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Projected benefit obligation $ 341 $ 16 $ 112 $ 33 $ 46 $ 4 $ 5 Accumulated benefit obligation 336 16 112 33 46 4 5 December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Projected benefit obligation $ 337 $ 16 $ 116 $ 35 $ 61 $ 4 $ 5 Accumulated benefit obligation 333 15 116 35 61 4 5 |
Assumptions Used for Pension Benefits Accounting | The following tables present the assumptions used for pension benefit accounting. December 31, 2015 2014 2013 Benefit Obligations Discount rate 4.40 % 4.10 % 4.70 % Salary increase 4.40 % 4.40 % 4.40 % Net Periodic Benefit Cost Discount rate 4.10 % 4.70 % 4.10 % Salary increase 4.40 % 4.40 % 4.30 % |
Expected Benefit Payments | Expected Benefit Payments Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Years ending December 31, 2016 $ 28 $ 2 $ 8 $ 3 $ 3 $ — $ — 2017 29 2 8 3 3 — — 2018 25 2 8 3 3 — — 2019 26 2 8 3 3 — — 2020 25 2 8 3 3 — 1 2021 - 2025 126 9 38 12 16 1 2 |
Other Post-Retirement Benefit Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components of Net Periodic Pension Costs | Components of Net Periodic Other Post-Retirement Benefit Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 6 $ 1 $ 1 $ 1 $ 1 $ — $ 1 Interest cost on accumulated post-retirement benefit obligation 36 9 15 8 7 2 4 Expected return on plan assets (13 ) (8 ) — — — (1 ) (1 ) Amortization of actuarial loss (gain) 16 (2 ) 28 18 10 (2 ) (2 ) Amortization of prior service credit (140 ) (14 ) (102 ) (68 ) (35 ) — — Net periodic post-retirement benefit costs (a)(b) $ (95 ) $ (14 ) $ (58 ) $ (41 ) $ (17 ) $ (1 ) $ 2 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 10 $ 2 $ 4 $ 1 $ 3 $ — $ 1 Interest cost on accumulated post-retirement benefit obligation 49 12 22 11 12 2 5 Expected return on plan assets (13 ) (9 ) — — — — (1 ) Amortization of actuarial loss (gain) 39 3 42 31 10 (2 ) — Amortization of prior service credit (125 ) (11 ) (95 ) (73 ) (21 ) — — Net periodic post-retirement benefit costs (a)(b) $ (40 ) $ (3 ) $ (27 ) $ (30 ) $ 4 $ — $ 5 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Service cost $ 24 $ 2 $ 18 $ 9 $ 7 $ 1 $ 1 Interest cost on accumulated post-retirement benefit obligation 68 13 41 22 16 2 5 Expected return on plan assets (14 ) (11 ) — — — (1 ) (1 ) Amortization of actuarial loss (gain) 52 3 57 34 16 (1 ) 1 Amortization of prior service credit (41 ) (7 ) (30 ) (20 ) (6 ) (1 ) — Net periodic post-retirement benefit costs (a)(b) $ 89 $ — $ 86 $ 45 $ 33 $ — $ 6 (a) Duke Energy amounts exclude $10 million , $9 million , and $8 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. (b) Duke Energy Ohio amounts exclude $3 million , $2 million , and $2 million for the years ended December 2015, 2014, and 2013, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. |
Amounts Recognized in AOCI and Regulatory Assets and Liabilities | Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase (decrease) $ 1 $ — $ 1 $ — $ 1 $ — $ (7 ) Regulatory liabilities, net increase (decrease) $ (92 ) $ (8 ) $ (71 ) $ (36 ) $ (35 ) $ 2 $ (8 ) Accumulated other comprehensive (income) loss Deferred income tax benefit $ 2 $ — $ (1 ) $ — $ — $ — $ — Actuarial losses (gains) arising during the year (5 ) — 2 — — — — Transfer with the disposal group (3 ) — — — — — — Amortization of prior year prior service credit 3 — (1 ) — — — — Net amount recognized in accumulated other comprehensive income $ (3 ) $ — $ — $ — $ — $ — $ — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Regulatory assets, net increase (decrease) $ 162 $ 34 $ 129 $ 97 $ (4 ) $ — $ (7 ) Regulatory liabilities, net increase (decrease) $ 249 $ 76 $ 122 $ 61 $ 61 $ (2 ) $ 14 Accumulated other comprehensive (income) loss Deferred income tax benefit $ 1 $ — $ 1 $ — $ — $ — $ — Actuarial losses (gains) arising during the year 1 — (2 ) — — — — Prior year service credit arising during the year (6 ) — — — — — — Amortization of prior year prior service credit 2 — — — — — — Net amount recognized in accumulated other comprehensive income $ (2 ) $ — $ (1 ) $ — $ — $ — $ — |
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 916 $ 220 $ 379 $ 207 $ 170 $ 39 $ 96 Service cost 6 1 1 1 1 — 1 Interest cost 36 9 15 8 7 2 4 Plan participants' contributions 20 4 7 4 3 1 2 Actuarial (gains) losses (39 ) (18 ) (1 ) (13 ) 11 (3 ) 1 Transfers — 2 — — — — — Plan amendments (9 ) — — — — (1 ) (4 ) Benefits paid (100 ) (18 ) (47 ) (19 ) (28 ) (3 ) (13 ) Obligation transferred with the Disposal Group (3 ) — — — — — — Accrued retiree drug subsidy 1 — — — — — — Accumulated post-retirement benefit obligation at measurement date $ 828 $ 200 $ 354 $ 188 $ 164 $ 35 $ 87 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 227 $ 145 $ — $ (1 ) $ — $ 8 $ 23 Actual return on plan assets (1 ) (1 ) 1 1 1 — (1 ) Benefits paid (100 ) (18 ) (47 ) (19 ) (28 ) (3 ) (13 ) Employer contributions 62 4 39 15 25 2 8 Plan participants' contributions 20 4 7 4 3 1 2 Plan assets at measurement date $ 208 $ 134 $ — $ — $ 1 $ 8 $ 19 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 1,106 $ 265 $ 533 $ 233 $ 253 $ 42 $ 118 Service cost 10 2 4 1 3 — 1 Interest cost 49 12 22 11 12 2 5 Plan participants' contributions 25 10 8 4 4 — 2 Actuarial gains (a) (87 ) (35 ) (19 ) (21 ) — — (20 ) Transfers — 1 (48 ) (2 ) — (1 ) — Plan amendments (85 ) (4 ) (77 ) — (78 ) (1 ) — Benefits paid (103 ) (31 ) (44 ) (19 ) (24 ) (3 ) (10 ) Accrued retiree drug subsidy 1 — — — — — — Accumulated post-retirement benefit obligation at measurement date $ 916 $ 220 $ 379 $ 207 $ 170 $ 39 $ 96 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 214 $ 143 $ — $ — $ — $ 8 $ 18 Actual return on plan assets 18 12 — — — — 2 Benefits paid (103 ) (31 ) (44 ) (19 ) (24 ) (3 ) (10 ) Transfers — (1 ) — — — — — Employer contributions 73 12 36 14 20 3 11 Plan participants' contributions 25 10 8 4 4 — 2 Plan assets at measurement date $ 227 $ 145 $ — $ (1 ) $ — $ 8 $ 23 (a) Includes an increase in benefit obligation of $7 million as a result of changes in Duke Energy's mortality assumptions. |
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current post-retirement liability (a) $ 37 $ — $ 31 $ 16 $ 15 $ 2 $ — Noncurrent post-retirement liability (b) 583 66 323 172 149 25 68 Total accrued post-retirement liability $ 620 $ 66 $ 354 $ 188 $ 164 $ 27 $ 68 Regulatory assets $ 1 $ — $ 1 $ — $ 1 $ — $ 57 Regulatory liabilities $ 288 $ 68 $ 51 $ 25 $ 26 $ 21 $ 83 Accumulated other comprehensive (income) loss Deferred income tax liability $ 7 $ — $ — $ — $ — $ — $ — Prior service credit (6 ) — (1 ) — — — — Net actuarial gain (13 ) — — — — — — Net amounts recognized in accumulated other comprehensive income $ (12 ) $ — $ (1 ) $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss (gain) $ 6 $ (3 ) $ 22 $ 13 $ 9 $ (2 ) $ (2 ) Unrecognized prior service credit (142 ) (14 ) (103 ) (68 ) (35 ) — (1 ) December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current post-retirement liability (a) $ 35 $ — $ 29 $ 16 $ 14 $ 2 $ — Noncurrent post-retirement liability (b) 654 75 350 192 156 29 73 Total accrued post-retirement liability $ 689 $ 75 $ 379 $ 208 $ 170 $ 31 $ 73 Regulatory assets $ — $ — $ — $ — $ — $ — $ 64 Regulatory liabilities $ 380 $ 76 $ 122 $ 61 $ 61 $ 19 $ 91 Accumulated other comprehensive (income) loss Deferred income tax liability $ 5 $ — $ 1 $ — $ — $ — $ — Prior service credit (9 ) — — — — — — Net actuarial gain (5 ) — (2 ) — — — — Net amounts recognized in accumulated other comprehensive income $ (9 ) $ — $ (1 ) $ — $ — $ — $ — (a) Included in Other within Current Liabilities on the Consolidated Balance Sheets. (b) Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. |
Assumptions Used for Pension Benefits Accounting | The following tables present the assumptions used for other post-retirement benefits accounting. December 31, 2015 2014 2013 Benefit Obligations Discount rate 4.40 % 4.10 % 4.70 % Net Periodic Benefit Cost Discount rate 4.10 % 4.70 % 4.10 % Expected long-term rate of return on plan assets 6.50 % 6.75 % 7.75 % Assumed tax rate 35 % 35 % 35 % |
Assumed Health Care Cost Trend Rate | Assumed Health Care Cost Trend Rate December 31, 2015 2014 Health care cost trend rate assumed for next year 7.50 % 6.75 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.75 % 4.75 % Year that rate reaches ultimate trend 2023 2023 |
Sensitivity to Changes in Assumed Health Care Cost Trend Rates | Sensitivity to Changes in Assumed Health Care Cost Trend Rates Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana 1-Percentage Point Increase Effect on total service and interest costs $ 2 $ — $ 1 $ 1 $ — $ — $ — Effect on post-retirement benefit obligation 29 7 12 6 6 1 3 1-Percentage Point Decrease Effect on total service and interest costs (1 ) — (1 ) (1 ) — — — Effect on post-retirement benefit obligation (26 ) (6 ) (11 ) (6 ) (5 ) (1 ) (3 ) |
Expected Benefit Payments | Expected Benefit Payments Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Years ending December 31, 2016 $ 76 $ 16 $ 31 $ 16 $ 15 $ 4 $ 10 2017 76 17 31 16 15 3 10 2018 74 18 30 16 14 3 9 2019 73 18 29 15 14 3 9 2020 71 18 29 15 13 3 8 2021 – 2025 312 80 129 68 60 14 33 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Line Items] | |
Schedule of Components of Income Tax Expense (Benefit) | Components of Income Tax Expense Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current income taxes Federal $ — $ 216 $ (193 ) $ (56 ) $ 1 $ (18 ) $ (86 ) State (12 ) 14 1 (4 ) (7 ) (1 ) (12 ) Foreign 99 — — — — — — Total current income taxes 87 230 (192 ) (60 ) (6 ) (19 ) (98 ) Deferred income taxes Federal 1,089 345 694 334 290 96 245 State 181 57 27 27 58 5 17 Foreign (17 ) — — — — — — Total deferred income taxes (a) 1,253 402 721 361 348 101 262 Investment tax credit amortization (14 ) (5 ) (7 ) (7 ) — (1 ) (1 ) Income tax expense from continuing operations 1,326 627 522 294 342 81 163 Tax expense (benefit) from discontinued operations 19 — (1 ) — — 22 — Total income tax expense included in Consolidated Statements of Operations $ 1,345 $ 627 $ 521 $ 294 $ 342 $ 103 $ 163 (a) Includes benefits of net operating loss (NOL) carryforwards and utilization of NOL and tax credit carryforwards of $264 million at Duke Energy, $15 million at Duke Energy Carolinas, $119 million at Progress Energy, $21 million at Duke Energy Progress, $84 million at Duke Energy Florida, $3 million at Duke Energy Ohio and $45 million at Duke Energy Indiana. Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current income taxes Federal $ — $ 161 $ (466 ) $ (184 ) $ (53 ) $ (73 ) $ (112 ) State 56 51 (8 ) 14 1 3 1 Foreign 144 — — — — — — Total current income taxes 200 212 (474 ) (170 ) (52 ) (70 ) (111 ) Deferred income taxes Federal 1,517 407 938 436 350 113 294 State 35 (25 ) 84 25 52 1 15 Foreign (67 ) — — — — — — Total deferred income taxes (a)(b) 1,485 382 1,022 461 402 114 309 Investment tax credit amortization (16 ) (6 ) (8 ) (6 ) (1 ) (1 ) (1 ) Income tax expense from continuing operations 1,669 588 540 285 349 43 197 Tax benefit from discontinued operations (295 ) — (4 ) — — (300 ) — Total income tax expense (benefit) included in Consolidated Statements of Operations $ 1,374 $ 588 $ 536 $ 285 $ 349 $ (257 ) $ 197 (a) There were no benefits of NOL carryforwards. (b) Includes utilization of NOL and tax credit carryforwards of $1,544 million at Duke Energy, $345 million at Duke Energy Carolinas, $530 million at Progress Energy, $291 million at Duke Energy Progress, $64 million at Duke Energy Florida, $56 million at Duke Energy Ohio and $141 million at Duke Energy Indiana. Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current income taxes Federal $ (141 ) $ 49 $ (221 ) $ (70 ) $ (143 ) $ (24 ) $ (88 ) State (40 ) 11 (37 ) (10 ) (13 ) (4 ) 7 Foreign 151 — — — — — — Total current income taxes (30 ) 60 (258 ) (80 ) (156 ) (28 ) (81 ) Deferred income taxes Federal 1,092 464 555 316 326 65 276 State 144 75 84 59 44 6 29 Foreign 14 — — — — — — Total deferred income taxes (a) 1,250 539 639 375 370 71 305 Investment tax credit amortization (15 ) (5 ) (8 ) (7 ) (1 ) — (1 ) Income tax expense from continuing operations 1,205 594 373 288 213 43 223 Tax expense (benefit) from discontinued operations 29 — (26 ) — — 32 — Total income tax expense included in Consolidated Statements of Operations $ 1,234 $ 594 $ 347 $ 288 $ 213 $ 75 $ 223 (a) Includes benefits of NOL carryforwards of $808 million at Duke Energy, $458 million at Progress Energy, $64 million at Duke Energy Progress, $301 million at Duke Energy Florida and $179 million at Duke Energy Indiana. |
Schedule of Income before Income Tax, Domestic and Foreign | Duke Energy Income from Continuing Operations before Income Taxes Years Ended December 31, (in millions) 2015 2014 2013 Domestic $ 3,828 $ 3,600 $ 3,183 Foreign 309 534 612 Income from continuing operations before income taxes $ 4,137 $ 4,134 $ 3,795 |
Summary of Effective Tax Rates | The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Income tax expense, computed at the statutory rate of 35 percent $ 1,448 $ 598 $ 555 $ 302 $ 330 $ 81 $ 168 State income tax, net of federal income tax effect 109 46 18 15 33 2 2 Tax differential on foreign earnings (27 ) — — — — — — AFUDC equity income (58 ) (34 ) (19 ) (17 ) (3 ) (1 ) (4 ) Renewable energy production tax credits (72 ) — (1 ) — — — — Audit adjustment (22 ) — (23 ) 1 (24 ) — — Tax true-up 2 2 (3 ) (4 ) 2 (5 ) (9 ) Other items, net (54 ) 15 (5 ) (3 ) 4 4 6 Income tax expense from continuing operations $ 1,326 $ 627 $ 522 $ 294 $ 342 $ 81 $ 163 Effective tax rate 32.1 % 36.7 % 32.9 % 34.2 % 36.3 % 35.2 % 34.0 % Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Income tax expense, computed at the statutory rate of 35 percent $ 1,447 $ 581 $ 497 $ 263 $ 314 $ 39 $ 195 State income tax, net of federal income tax effect 59 17 49 25 34 3 10 Tax differential on foreign earnings (a) (110 ) — — — — — — AFUDC equity income (47 ) (32 ) (9 ) (9 ) — (1 ) (5 ) Renewable energy production tax credits (67 ) — — — — — — International tax dividend (b) 373 — — — — — — Other items, net 14 22 3 6 1 2 (3 ) Income tax expense (benefit) from continuing operations $ 1,669 $ 588 $ 540 $ 285 $ 349 $ 43 $ 197 Effective tax rate 40.4 % 35.4 % 38.0 % 37.9 % 38.9 % 38.9 % 35.5 % (a) Includes a $57 million benefit as a result of the merger of two Chilean subsidiaries and a change in income tax rates in various countries primarily relating to Peru. (b) During 2014, Duke Energy declared a taxable dividend of foreign earnings in the form of notes payable that was expected to result in the repatriation of approximately $2.7 billion of cash held, and expected to be generated, by International Energy over a period of up to eight years. In 2015, approximately $1.5 billion was remitted. As a result of the decision to repatriate cumulative historical undistributed foreign earnings Duke Energy recorded U.S. income tax expense of approximately $373 million in 2014. Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Income tax expense, computed at the statutory rate of 35 percent $ 1,328 $ 549 $ 361 $ 276 $ 188 $ 39 $ 203 State income tax, net of federal income tax effect 66 56 31 31 20 2 23 Tax differential on foreign earnings (49 ) — — — — — — AFUDC equity income (55 ) (32 ) (18 ) (15 ) (3 ) — (5 ) Renewable energy production tax credits (62 ) — — — — — — Other items, net (23 ) 21 (1 ) (4 ) 8 2 2 Income tax expense from continuing operations $ 1,205 $ 594 $ 373 $ 288 $ 213 $ 43 $ 223 Effective tax rate 31.8 % 37.8 % 36.2 % 36.5 % 39.6 % 39.1 % 38.4 % |
Schedule of Deferred Tax Assets and Liabilities | December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Deferred credits and other liabilities $ 188 $ 53 $ 108 $ 28 $ 78 $ (8 ) $ 12 Capital lease obligations 63 10 — — — — 2 Pension, post-retirement and other employee benefits 546 4 188 96 93 17 43 Progress Energy merger purchase accounting adjustments (a) 1,124 — — — — — — Tax credits and NOL carryforwards 3,540 157 980 91 252 38 260 Investments and other assets — — — — — 14 — Other — 12 — 55 — 35 11 Valuation allowance (184 ) — (13 ) (1 ) — — — Total deferred income tax assets 5,277 236 1,263 269 423 96 328 Investments and other assets (1,625 ) (1,051 ) (427 ) (232 ) (245 ) — (4 ) Accelerated depreciation rates (11,715 ) (4,046 ) (3,284 ) (2,030 ) (1,252 ) (1,660 ) (1,603 ) Regulatory assets and deferred debits, net (3,694 ) (953 ) (1,602 ) (809 ) (792 ) (141 ) (106 ) Other (44 ) — (151 ) — (246 ) — — Total deferred income tax liabilities (17,078 ) (6,050 ) (5,464 ) (3,071 ) (2,535 ) (1,801 ) (1,713 ) Net deferred income tax liabilities $ (11,801 ) $ (5,814 ) $ (4,201 ) $ (2,802 ) $ (2,112 ) $ (1,705 ) $ (1,385 ) (a) Primarily related to capital lease obligations and debt fair value adjustments. Net Deferred Income Tax Liability Components December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Deferred credits and other liabilities $ 245 $ 38 $ 115 $ 25 $ 66 $ 29 $ 5 Capital lease obligations 63 9 — — — — 2 Pension, post-retirement and other employee benefits 580 46 186 92 82 24 40 Progress Energy merger purchase accounting adjustments (a) 1,009 — — — — — — Tax credits and NOL carryforwards 3,719 170 997 163 177 25 215 Investments and other assets — — — — — 3 — Other 206 20 48 2 46 37 20 Valuation allowance (160 ) — (38 ) — — — — Total deferred income tax assets 5,662 283 1,308 282 371 118 282 Investments and other assets (1,584 ) (1,057 ) (412 ) (228 ) (201 ) — (7 ) Accelerated depreciation rates (13,070 ) (4,429 ) (4,169 ) (2,325 ) (1,868 ) (1,356 ) (1,797 ) Regulatory assets and deferred debits, net (3,633 ) (943 ) (1,517 ) (756 ) (762 ) (169 ) (135 ) Total deferred income tax liabilities (18,287 ) (6,429 ) (6,098 ) (3,309 ) (2,831 ) (1,525 ) (1,939 ) Net deferred income tax liabilities $ (12,625 ) $ (6,146 ) $ (4,790 ) $ (3,027 ) $ (2,460 ) $ (1,407 ) $ (1,657 ) (a) Primarily related to capital lease obligations and debt fair value adjustments. |
Summary of Tax Credit Carryforwards | The following table presents the expiration of tax credits and NOL carryforwards. December 31, 2015 (in millions) Amount Expiration Year Investment tax credits $ 864 2029 — 2035 Alternative minimum tax credits 1,121 Indefinite Federal NOL carryforwards 484 2030 — 2033 State NOL carryforwards and credits (a) 299 2016 — 2035 Foreign NOL carryforwards (b) 100 2026 — 2034 Foreign Tax Credits 851 2024 Total tax credits and NOL carryforwards $ 3,719 (a) A valuation allowance of $81 million has been recorded on the state Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (b) A valuation allowance of $79 million has been recorded on the foreign Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. |
Schedule of Balance Sheet Classification of Deferred Tax Assets and Liabilities | As discussed in Note 1, the FASB issued revised accounting guidance for the Balance Sheet classification of deferred taxes. As shown in the table below, all deferred tax assets and liabilities are presented as noncurrent as of December 31, 2015. However, for December 31, 2014, the revised guidance was not applied. As a result, a portion of deferred tax assets and liabilities is shown as current at December 31, 2014. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Investments and Other Assets: Other 80 — — — — — — Deferred Credits and Other Liabilities: Deferred income taxes (12,705 ) (6,146 ) (4,790 ) (3,027 ) (2,460 ) (1,407 ) (1,657 ) Net deferred income tax liabilities $ (12,625 ) $ (6,146 ) $ (4,790 ) $ (3,027 ) $ (2,460 ) $ (1,407 ) $ (1,657 ) December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Current Assets: Other $ 1,593 $ 3 $ 558 $ 106 $ 340 $ 60 $ 206 Investments and Other Assets: Other 29 — — — — — — Current Liabilities: Other — (5 ) — — — — — Deferred Credits and Other Liabilities: Deferred income taxes (13,423 ) (5,812 ) (4,759 ) (2,908 ) (2,452 ) (1,765 ) (1,591 ) Net deferred income tax liabilities $ (11,801 ) $ (5,814 ) $ (4,201 ) $ (2,802 ) $ (2,112 ) $ (1,705 ) $ (1,385 ) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following tables present changes to unrecognized tax benefits. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana Unrecognized tax benefits – January 1 $ 213 $ 160 $ 32 $ 23 $ 8 $ 1 Unrecognized tax benefits increases (decreases) Gross increases – tax positions in prior periods — — 1 1 — — Gross decreases – tax positions in prior periods (48 ) (45 ) — — — — Decreases due to settlements (45 ) (43 ) — — — — Reduction due to lapse of statute of limitations (32 ) — (32 ) (21 ) (8 ) — Total changes (125 ) (88 ) (31 ) (20 ) (8 ) — Unrecognized tax benefits – December 31 $ 88 $ 72 $ 1 $ 3 $ — $ 1 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana Unrecognized tax benefits – January 1 $ 230 $ 171 $ 32 $ 22 $ 8 $ 1 Unrecognized tax benefits (decreases) increases Gross increases – tax positions in prior periods — — 1 1 — — Gross decreases – tax positions in prior periods (2 ) — — — — — Decreases due to settlements (15 ) (11 ) (1 ) — — — Total changes (17 ) (11 ) — 1 — — Unrecognized tax benefits – December 31 $ 213 $ 160 $ 32 $ 23 $ 8 $ 1 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Unrecognized tax benefits – January 1 $ 540 $ 271 $ 131 $ 67 $ 44 $ 36 $ 32 Unrecognized tax benefits increases (decreases) Gross decreases – tax positions in prior periods (231 ) (100 ) (86 ) (45 ) (37 ) (36 ) (31 ) Decreases due to settlements (66 ) — — — — — — Reduction due to lapse of statute of limitations (13 ) — (13 ) — 1 — — Total changes (310 ) (100 ) (99 ) (45 ) (36 ) (36 ) (31 ) Unrecognized tax benefits – December 31 $ 230 $ 171 $ 32 $ 22 $ 8 $ — $ 1 |
Schedule of Unrecognized Tax Benefits | The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits. It is reasonably possible that Duke Energy could reflect an approximate $65 million reduction and Duke Energy Carolinas could reflect an approximate $63 million reduction in unrecognized tax benefits within the next 12 months. All other Duke Energy Registrants do not anticipate a material increase or decrease in unrecognized tax benefits within the next 12 months. December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Amount that if recognized, would affect the effective tax rate or regulatory liability (a) $ 62 $ 54 $ 2 $ 3 $ 1 $ — $ 2 Amount that if recognized, would be recorded as a component of discontinued operations 4 — — — — — — (a) Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana are unable to estimate the specific amounts that would affect the effective tax rate versus the regulatory liability. |
Summary of Income Tax Contingencies | The following tables include interest recognized in the Consolidated Statements of Operations and the Consolidated Balance Sheets. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Net interest income recognized related to income taxes $ 12 $ — $ 2 $ 2 $ 1 $ — $ 1 Net interest expense recognized related to income taxes — 1 — — — — — Interest receivable related to income taxes 3 — — — — — 3 Interest payable related to income taxes — 14 — 1 — — — Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Net interest income recognized related to income taxes $ 6 $ — 3 — 1 4 $ 4 Net interest expense recognized related to income taxes — 1 — 1 — — — Interest receivable related to income taxes — — — — — — 2 Interest payable related to income taxes 13 13 5 3 5 — — Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Net interest income recognized related to income taxes $ 2 $ 2 $ 6 $ 7 $ — 4 1 Interest payable related to income taxes 27 8 10 2 7 — — |
Other Income and Expenses, Net
Other Income and Expenses, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Component Of Other Income Expense Nonoperating [Line Items] | |
Schedule of Other Income and Expenses, Net | The components of Other income and expenses, net on the Consolidated Statements of Operations are as follows. Year Ended December 31, 2015 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Interest income $ 38 $ 2 $ 4 $ 2 $ 2 $ 4 $ 6 Foreign exchange losses (4 ) — — — — — — AFUDC equity 164 96 54 47 7 3 11 Post in-service equity returns 73 60 13 13 — — — Nonoperating income (expense), other 36 2 26 9 15 (1 ) (6 ) Other income and expense, net $ 307 $ 160 $ 97 $ 71 $ 24 $ 6 $ 11 Year Ended December 31, 2014 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Interest income $ 57 $ 4 $ 3 $ — $ 2 $ 8 $ 6 Foreign exchange gains 3 — — — — — — AFUDC equity 135 91 26 25 — 4 14 Post in-service equity returns 89 71 17 17 — — — Nonoperating income (expense), other 67 6 31 9 18 (2 ) 2 Other income and expense, net $ 351 $ 172 $ 77 $ 51 $ 20 $ 10 $ 22 Year Ended December 31, 2013 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Interest income $ 26 $ 1 $ 7 $ 1 $ 3 $ 5 $ 6 Foreign exchange losses (18 ) — — — — — — AFUDC equity 157 91 50 42 8 1 15 Post in-service equity returns 39 32 7 7 — — — Nonoperating income (expense), other 58 (4 ) 30 7 19 (4 ) (3 ) Other income and expense, net $ 262 $ 120 $ 94 $ 57 $ 30 $ 2 $ 18 |
Quarterly Financial Data (Una58
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | Quarterly EPS amounts may not sum to the full-year total due to changes in the weighted average number of common shares outstanding and rounding. First Second Third Fourth (in millions, except per share data) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 6,065 $ 5,589 $ 6,483 $ 5,322 $ 23,459 Operating income 1,456 1,246 1,688 977 5,367 Income from continuing operations 776 604 940 491 2,811 Income (loss) from discontinued operations, net of tax 91 (57 ) (5 ) (9 ) 20 Net income 867 547 935 482 2,831 Net income attributable to Duke Energy Corporation 864 543 932 477 2,816 Earnings per share: Income from continuing operations attributable to Duke Energy Corporation common stockholders Basic $ 1.09 $ 0.87 $ 1.36 $ 0.70 $ 4.02 Diluted $ 1.09 $ 0.87 $ 1.36 $ 0.70 $ 4.02 Income (loss) from discontinued operations attributable to Duke Energy Corporation common stockholders Basic $ 0.13 $ (0.09 ) $ (0.01 ) $ (0.01 ) $ 0.03 Diluted $ 0.13 $ (0.09 ) $ (0.01 ) $ (0.01 ) $ 0.03 Net income attributable to Duke Energy Corporation common stockholders Basic $ 1.22 $ 0.78 $ 1.35 $ 0.69 $ 4.05 Diluted $ 1.22 $ 0.78 $ 1.35 $ 0.69 $ 4.05 2014 Operating revenues $ 6,263 $ 5,708 $ 6,395 $ 5,559 $ 23,925 Operating income 1,362 1,289 1,619 988 5,258 Income from continuing operations 750 726 891 98 2,465 (Loss) Income from discontinued operations, net of tax (843 ) (113 ) 378 2 (576 ) Net (loss) income (93 ) 613 1,269 100 1,889 Net (loss) income attributable to Duke Energy Corporation (97 ) 609 1,274 97 1,883 Earnings per share: Income from continuing operations attributable to Duke Energy Corporation common stockholders Basic $ 1.05 $ 1.02 $ 1.25 $ 0.14 $ 3.46 Diluted $ 1.05 $ 1.02 $ 1.25 $ 0.14 $ 3.46 (Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders Basic $ (1.19 ) $ (0.16 ) $ 0.55 $ — $ (0.80 ) Diluted $ (1.19 ) $ (0.16 ) $ 0.55 $ — $ (0.80 ) Net (loss) income attributable to Duke Energy Corporation common stockholders Basic $ (0.14 ) $ 0.86 $ 1.80 $ 0.14 $ 2.66 Diluted $ (0.14 ) $ 0.86 $ 1.80 $ 0.14 $ 2.66 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (21 ) $ (22 ) $ (24 ) $ (30 ) $ (97 ) Edwardsport Settlement (see Note 4) — — (90 ) (3 ) (93 ) Ash Basin Settlement and Penalties (see Note 5) — — (7 ) (7 ) (14 ) State Tax Adjustment related to Midwest Generation Sale — (41 ) — — (41 ) Cost Savings Initiatives (see Note 19) — — — (142 ) (142 ) Total $ (21 ) $ (63 ) $ (121 ) $ (182 ) $ (387 ) 2014 Costs to Achieve, Mergers $ (55 ) $ (61 ) $ (56 ) $ (33 ) $ (205 ) Midwest Generation Impairment (1,287 ) — 477 (39 ) (849 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (102 ) (102 ) International Tax Adjustment (see Note 22) — — — (373 ) (373 ) Asset Impairment (94 ) — — — (94 ) Total $ (1,436 ) $ (61 ) $ 421 $ (547 ) $ (1,623 ) |
Duke Energy Carolinas [Member] | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | DUKE ENERGY CAROLINAS First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 1,901 $ 1,707 $ 2,061 $ 1,560 $ 7,229 Operating income 515 483 666 296 1,960 Net income 292 265 383 141 1,081 2014 Operating revenues $ 2,000 $ 1,755 $ 1,938 $ 1,658 $ 7,351 Operating income 509 438 630 318 1,895 Net income 286 270 377 139 1,072 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (9 ) $ (11 ) $ (11 ) $ (16 ) $ (47 ) Ash Basin Settlement and Penalties (see Note 5) — — (1 ) (7 ) (8 ) Cost Savings Initiatives (see Note 19) — — — (93 ) (93 ) Total $ (9 ) $ (11 ) $ (12 ) $ (116 ) $ (148 ) 2014 Costs to Achieve, Mergers $ (29 ) $ (38 ) $ (25 ) $ (17 ) $ (109 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (72 ) (72 ) Total $ (29 ) $ (38 ) $ (25 ) $ (89 ) $ (181 ) |
Progress Energy [Member] | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | PROGRESS ENERGY First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 2,536 $ 2,476 $ 2,929 $ 2,336 $ 10,277 Operating income 549 504 756 351 2,160 Income from continuing operations 264 217 452 132 1,065 Net income 263 217 451 131 1,062 Net income attributable to Parent 260 215 448 128 1,051 2014 Operating revenues $ 2,541 $ 2,421 $ 2,863 $ 2,341 $ 10,166 Operating income 477 488 665 388 2,018 Income from continuing operations 204 207 330 139 880 Net income 203 202 330 139 874 Net income attributable to Parent 202 202 329 136 869 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (8 ) $ (8 ) $ (8 ) $ (10 ) $ (34 ) Ash Basin Settlement and Penalties (see Note 5) — — (6 ) — (6 ) Cost Savings Initiatives (see Note 19) — — — (36 ) (36 ) Total $ (8 ) $ (8 ) $ (14 ) $ (46 ) $ (76 ) 2014 Costs to Achieve, Mergers $ (19 ) $ (12 ) $ (21 ) $ (13 ) $ (65 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (30 ) (30 ) Total $ (19 ) $ (12 ) $ (21 ) $ (43 ) $ (95 ) |
Duke Energy Progress [Member] | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | DUKE ENERGY PROGRESS First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 1,449 $ 1,193 $ 1,488 $ 1,160 $ 5,290 Operating income 316 184 394 130 1,024 Net income 183 85 229 69 566 2014 Operating revenues $ 1,422 $ 1,191 $ 1,367 $ 1,196 $ 5,176 Operating income 258 212 285 180 935 Net income 133 101 157 76 467 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (5 ) $ (5 ) $ (6 ) $ (6 ) $ (22 ) Ash Basin Settlement and Penalties (see Note 5) — — (6 ) — (6 ) Cost Savings Initiatives (see Note 19) — — — (28 ) (28 ) Total $ (5 ) $ (5 ) $ (12 ) $ (34 ) $ (56 ) 2014 Costs to Achieve, Mergers $ (14 ) $ (3 ) $ (15 ) $ (10 ) $ (42 ) Coal Ash Plea Agreements Reserve (see Note 5) — — — (30 ) (30 ) Total $ (14 ) $ (3 ) $ (15 ) $ (40 ) $ (72 ) |
Duke Energy Florida [Member] | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | DUKE ENERGY FLORIDA First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 1,086 $ 1,281 $ 1,436 $ 1,174 $ 4,977 Operating income 227 315 357 216 1,115 Net income 113 165 216 105 599 2014 Operating revenues $ 1,116 $ 1,225 $ 1,491 $ 1,143 $ 4,975 Operating income 219 276 378 205 1,078 Net income 108 142 205 93 548 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (3 ) $ (3 ) $ (3 ) $ (4 ) $ (13 ) Cost Savings Initiatives (see Note 19) — — — (8 ) (8 ) Total $ (3 ) $ (3 ) $ (3 ) $ (12 ) $ (21 ) 2014 Costs to Achieve, Mergers $ (5 ) $ (9 ) $ (6 ) $ (3 ) $ (23 ) |
Duke Energy Ohio [Member] | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | DUKE ENERGY OHIO First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 586 $ 405 $ 462 $ 452 $ 1,905 Operating income 111 43 76 73 303 Income (loss) from discontinued operations, net of tax 90 (65 ) (2 ) — 23 Net income (loss) 149 (52 ) 32 43 172 2014 Operating revenues $ 575 $ 412 $ 446 $ 480 $ 1,913 Operating (loss) income (7 ) 60 58 76 187 (Loss) Income from discontinued operations, net of tax (875 ) (135 ) 413 34 (563 ) Net (loss) income (890 ) (107 ) 439 63 (495 ) |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (1 ) $ (1 ) $ (1 ) $ (1 ) $ (4 ) Cost Savings Initiatives (see Note 19) — — — (2 ) (2 ) Total $ (1 ) $ (1 ) $ (1 ) $ (3 ) $ (6 ) 2014 Costs to Achieve, Mergers $ (2 ) $ (4 ) $ (3 ) $ (2 ) $ (11 ) Midwest Generation Impairment (1,318 ) — 477 (39 ) (880 ) Asset Impairment (94 ) — — — (94 ) Total $ (1,414 ) $ (4 ) $ 474 $ (41 ) $ (985 ) |
Duke Energy Indiana [Member] | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | DUKE ENERGY INDIANA First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Operating revenues $ 788 $ 686 $ 749 $ 667 $ 2,890 Operating income 210 146 117 171 644 Net income 108 68 46 94 316 2014 Operating revenues $ 845 $ 748 $ 790 $ 792 $ 3,175 Operating income 215 178 182 130 705 Net income 113 87 101 58 359 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during the two most recently completed fiscal years. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2015 Costs to Achieve, Mergers $ (2 ) $ (1 ) $ (2 ) $ (2 ) $ (7 ) Edwardsport Settlement (see Note 4) — — (90 ) (3 ) (93 ) Cost Savings Initiatives (see Note 19) — — — (6 ) (6 ) Total $ (2 ) $ (1 ) $ (92 ) $ (11 ) $ (106 ) 2014 Costs to Achieve, Mergers $ (2 ) $ (5 ) $ (3 ) $ (2 ) $ (12 ) |
Summary of Significant Accoun59
Summary of Significant Accounting Policies (Narrative)(Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | 96 Months Ended | |||
Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2022 | |
Organization And Basis Of Presentation [Line Items] | ||||||
Collateral Already Posted, Aggregate Fair Value | $ 209 | $ 30 | $ 209 | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 170 | 152 | ||||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | 2,036 | 857 | 2,036 | $ 1,501 | ||
Restricted Cash [Abstract] | ||||||
Restricted cash | 298 | 108 | 298 | |||
Duke Energy Carolinas [Member] | ||||||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | 13 | 13 | 13 | 23 | ||
Duke Energy Carolinas [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Annual Reduction In Excise Taxes | 160 | |||||
Progress Energy [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Collateral Already Posted, Aggregate Fair Value | 23 | 30 | 23 | |||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | 42 | 44 | 42 | 58 | ||
Duke Energy Progress [Member] | ||||||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | 9 | 15 | 9 | 21 | ||
Duke Energy Progress [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Annual Reduction In Excise Taxes | 110 | |||||
Duke Energy Florida [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Collateral Already Posted, Aggregate Fair Value | 23 | 30 | 23 | |||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | 8 | 8 | 8 | 16 | ||
Duke Energy Ohio [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Collateral Already Posted, Aggregate Fair Value | 186 | 186 | ||||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | 20 | 14 | 20 | 36 | ||
Duke Energy Indiana [Member] | ||||||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | $ 6 | 9 | $ 6 | $ 15 | ||
International Energy [Member] | ||||||
Cash and Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents at end of period | 534 | |||||
Foreign Earnings Repatriated | $ 1,500 | |||||
Restricted Cash [Abstract] | ||||||
Cash Repatriation period | 8 years | |||||
International Energy [Member] | Scenario, Forecast [Member] | ||||||
Cash and Cash Equivalents [Abstract] | ||||||
Foreign Earnings Repatriated | $ 2,700 | |||||
Utility Franchise Tax Member [Member] | Duke Energy Carolinas [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Statutory Tax Rate | 3.22% | |||||
Utility Franchise Tax Member [Member] | Duke Energy Progress [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Statutory Tax Rate | 3.22% | |||||
Electricity Sales Tax Member [Member] | Duke Energy Carolinas [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Statutory Tax Rate | 3.00% | |||||
Electricity Sales Tax Member [Member] | Duke Energy Progress [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Statutory Tax Rate | 3.00% | |||||
Current [Member] | Electricity Sales Tax Member [Member] | Duke Energy Carolinas [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Statutory Tax Rate | 7.00% | |||||
Current [Member] | Electricity Sales Tax Member [Member] | Duke Energy Progress [Member] | State [Member] | ||||||
Organization And Basis Of Presentation [Line Items] | ||||||
Statutory Tax Rate | 7.00% |
Summary of Significant Accoun60
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Other Assets and Liabilities)(Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Organization And Basis Of Presentation [Line Items] | ||
Other current receivables | $ 703 | $ 791 |
Collateral assets | 30 | 209 |
Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 621 | 638 |
Duke Energy Carolinas [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Other current receivables | 142 | 129 |
Duke Energy Carolinas [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 213 | 216 |
Collateral liabilities | 141 | 128 |
Progress Energy [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Other current receivables | 151 | 129 |
Collateral assets | 30 | 23 |
Progress Energy [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 129 | 718 |
Progress Energy [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Customer deposits | 373 | 360 |
Derivative liabilities | 201 | 271 |
Duke Energy Progress [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Other current receivables | 87 | 43 |
Duke Energy Progress [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 111 | 272 |
Duke Energy Progress [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Customer deposits | 141 | 135 |
Accrued compensation | 108 | 116 |
Derivative liabilities | 76 | 108 |
Duke Energy Florida [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Other current receivables | 60 | 84 |
Collateral assets | 30 | 23 |
Duke Energy Florida [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 177 | |
Duke Energy Florida [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Customer deposits | 232 | 225 |
Derivative liabilities | 125 | 163 |
Duke Energy Ohio [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Other current receivables | 66 | 93 |
Collateral assets | 186 | |
Duke Energy Ohio [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 59 | 40 |
Other current receivables | 33 | 39 |
Duke Energy Ohio [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued litigation reserve | 80 | |
Collateral liabilities | 48 | 42 |
Duke Energy Indiana [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Other current receivables | 96 | 87 |
Duke Energy Indiana [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 98 | |
Duke Energy Indiana [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Collateral liabilities | $ 44 | $ 43 |
Summary of Significant Accoun61
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Amounts Attributable to Controlling Interests) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Organization And Basis Of Presentation [Line Items] | |||||||||||
Income (Loss) from Continuing Operations | $ 491 | $ 940 | $ 604 | $ 776 | $ 98 | $ 891 | $ 726 | $ 750 | $ 2,811 | $ 2,465 | $ 2,590 |
Income (Loss) from Continuing Operations Attributable to Noncontrolling Interests | 15 | 14 | 16 | ||||||||
Income (Loss) from Continuing Operations Attributable to Parent | 2,796 | 2,451 | 2,574 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | (9) | (5) | (57) | 91 | 2 | 378 | (113) | (843) | 20 | (576) | 86 |
Loss from Discontinued Operations Attributable to Noncontrolling Interest, net of tax | (8) | (5) | |||||||||
(Loss) Income from Discontinued Operations Attributable to Parent, net of tax | (568) | 91 | |||||||||
Net income | 482 | 935 | 547 | 867 | 100 | 1,269 | 613 | (93) | 2,831 | 1,889 | 2,676 |
Net Income Attributable to Noncontrolling Interest | 15 | 6 | 11 | ||||||||
Net Income (Loss) Attributable to Parent | 477 | 932 | 543 | 864 | 97 | 1,274 | 609 | (97) | 2,816 | 1,883 | 2,665 |
Progress Energy [Member] | |||||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||||
Income (Loss) from Continuing Operations | 132 | 452 | 217 | 264 | 139 | 330 | 207 | 204 | 1,065 | 880 | 659 |
Income (Loss) from Continuing Operations Attributable to Noncontrolling Interests | 5 | 3 | |||||||||
Income (Loss) from Continuing Operations Attributable to Parent | 875 | 656 | |||||||||
Income (Loss) From Discontinued Operations, net of tax | (3) | (6) | 16 | ||||||||
(Loss) Income from Discontinued Operations Attributable to Parent, net of tax | (6) | 16 | |||||||||
Net income | 131 | 451 | 217 | 263 | 139 | 330 | 202 | 203 | 1,062 | 874 | 675 |
Net Income Attributable to Noncontrolling Interest | 11 | 5 | 3 | ||||||||
Net Income (Loss) Attributable to Parent | $ 128 | $ 448 | $ 215 | $ 260 | $ 136 | $ 329 | $ 202 | $ 202 | $ 1,051 | $ 869 | $ 672 |
Summary of Significant Accoun62
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Inventory)(Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | $ 2,389 | $ 2,102 |
Coal held for electric generation | 1,114 | 997 |
Oil, gas and other fuel held for electric generation | 307 | 360 |
Public Utilities, Inventory | 3,810 | 3,459 |
Duke Energy Carolinas [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 785 | 719 |
Coal held for electric generation | 451 | 362 |
Oil, gas and other fuel held for electric generation | 40 | 43 |
Public Utilities, Inventory | 1,276 | 1,124 |
Progress Energy [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 1,133 | 981 |
Coal held for electric generation | 370 | 329 |
Oil, gas and other fuel held for electric generation | 248 | 280 |
Public Utilities, Inventory | 1,751 | 1,590 |
Duke Energy Progress [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 776 | 676 |
Coal held for electric generation | 192 | 150 |
Oil, gas and other fuel held for electric generation | 120 | 140 |
Public Utilities, Inventory | 1,088 | 966 |
Duke Energy Florida [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 357 | 305 |
Coal held for electric generation | 178 | 178 |
Oil, gas and other fuel held for electric generation | 128 | 140 |
Public Utilities, Inventory | 663 | 623 |
Duke Energy Ohio [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 81 | 67 |
Coal held for electric generation | 16 | 21 |
Oil, gas and other fuel held for electric generation | 8 | 9 |
Public Utilities, Inventory | 105 | 97 |
Duke Energy Indiana [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 301 | 258 |
Coal held for electric generation | 267 | 275 |
Oil, gas and other fuel held for electric generation | 2 | 4 |
Public Utilities, Inventory | $ 570 | $ 537 |
Summary of Significant Accoun63
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Property, Plant and Equipment)(Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.90% | 2.80% | 2.80% |
Duke Energy Carolinas [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.80% | 2.70% | 2.80% |
Progress Energy [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.60% | 2.50% | 2.50% |
Duke Energy Progress [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.60% | 2.50% | 2.50% |
Duke Energy Florida [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.70% | 2.70% | 2.40% |
Duke Energy Ohio [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.70% | 2.30% | 3.30% |
Duke Energy Indiana [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 3.00% | 3.00% | 2.80% |
Summary of Significant Accoun64
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Unbilled Revenues)(Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | $ 748 | $ 827 |
Duke Energy Carolinas [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 283 | 295 |
Progress Energy [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 172 | 217 |
Duke Energy Progress [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 102 | 135 |
Duke Energy Florida [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 70 | 82 |
Duke Energy Ohio [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 3 | |
Duke Energy Indiana [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 31 | 27 |
Cinergy Receivables [Member] | Duke Energy Ohio [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 71 | 79 |
Cinergy Receivables [Member] | Duke Energy Indiana [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | $ 97 | $ 112 |
Summary of Significant Accoun65
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Allowance for Doubtful Accounts)(Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | $ 18 | $ 17 | $ 30 |
Restricted receivables, allowance for doubtful accounts | 53 | 51 | 43 |
Duke Energy Carolinas [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 3 | 3 | 3 |
Restricted receivables, allowance for doubtful accounts | 7 | 6 | 6 |
Progress Energy [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 6 | 8 | 14 |
Restricted receivables, allowance for doubtful accounts | 8 | 8 | |
Duke Energy Progress [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 4 | 7 | 10 |
Restricted receivables, allowance for doubtful accounts | 5 | 5 | |
Duke Energy Florida [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 2 | 2 | 4 |
Restricted receivables, allowance for doubtful accounts | 3 | 3 | |
Duke Energy Ohio [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 2 | 2 | 2 |
Duke Energy Indiana [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | $ 1 | $ 1 | $ 1 |
Summary of Significant Accoun66
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Excise Taxes)(Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | $ 396 | $ 498 | $ 602 |
Duke Energy Carolinas [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 31 | 94 | 164 |
Progress Energy [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 229 | 263 | 304 |
Duke Energy Progress [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 16 | 56 | 115 |
Duke Energy Florida [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 213 | 207 | 189 |
Duke Energy Ohio [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 102 | 103 | 105 |
Duke Energy Indiana [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | $ 34 | $ 38 | $ 29 |
Acquisitions and Dispositions67
Acquisitions and Dispositions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2016 | |
Business Acquisition [Line Items] | |||
Asset retirement obligations assumed | $ 226 | $ 4 | |
Subsequent Event [Member] | International Energy [Member] | |||
Business Acquisition [Line Items] | |||
Segment Carrying Value | $ 2,700 | ||
Piedmont Natural Gas [Member] | |||
Business Acquisition [Line Items] | |||
Payments to Acquire Businesses, Gross | $ 4,900 | ||
Business Acquisition, Share Price | $ 60 | ||
Long-term debt assumed | $ 1,900 | ||
Forward starting interest rate swaps, notional | 900 | ||
Bridge Facility | 4,900 | ||
Acquiree Termination Fee | 125 | ||
Acquirer Termination Fee | 250 | ||
Duke Energy Progress [Member] | |||
Business Acquisition [Line Items] | |||
Payments to Acquire Businesses, Gross | 1,249 | ||
Asset retirement obligations assumed | 204 | ||
Duke Energy Progress [Member] | NCEMPA Generating Assets [Member] | |||
Business Acquisition [Line Items] | |||
Payments to Acquire Businesses, Gross | 1,250 | ||
Acquisition adjustment, recorded within property, plant and equipment | 350 | ||
Nuclear decommissioning trust fund assets transferred | 287 | ||
Asset retirement obligations assumed | 204 | ||
Duke Energy Ohio [Member] | Midwest Generation Business [Member] | |||
Business Acquisition [Line Items] | |||
Proceeds from sale of business | $ 2,800 |
Acquisitions and Dispositions68
Acquisitions and Dispositions (Purchase Price Allocation) (Details) - Duke Energy Progress [Member] - NCEMPA Generating Assets [Member] $ in Millions | Dec. 31, 2015USD ($) |
Significant Acquisitions and Disposals [Line Items] | |
Inventory | $ 56 |
Net property, plant and equipment | 845 |
Total assets | 901 |
Acquisition adjustment, recorded within property, plant and equipment | 350 |
Total purchase price | $ 1,251 |
Acquisitions and Dispositions A
Acquisitions and Dispositions Acquisitions and Dispositions (Plants in Disposal Group) (Details) - Duke Energy Ohio [Member] | 3 Months Ended |
Mar. 31, 2015MW | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 9,225 |
Owned Average MW Capacity | 5,884 |
Stuart [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 2,308 |
Owned Average MW Capacity | 900 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 39.00% |
Zimmer [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 1,300 |
Owned Average MW Capacity | 605 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 46.50% |
Hanging Rock [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 1,226 |
Owned Average MW Capacity | 1,226 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Miami Fort Station Units 7 And 8 [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 1,020 |
Owned Average MW Capacity | 652 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 64.00% |
Conesville [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 780 |
Owned Average MW Capacity | 312 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 40.00% |
Washington [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 617 |
Owned Average MW Capacity | 617 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Fayette [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 614 |
Owned Average MW Capacity | 614 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Killen [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 600 |
Owned Average MW Capacity | 198 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 33.00% |
Lee [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 568 |
Owned Average MW Capacity | 568 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Dicks Creek [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 136 |
Owned Average MW Capacity | 136 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Miami Fort [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Total Average MW Capacity | 56 |
Owned Average MW Capacity | 56 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Acquisitions and Dispositions70
Acquisitions and Dispositions Acquisitions and Dispositions (Assets Held For Sale) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Significant Acquisitions and Disposals [Line Items] | |||||||||||
Charge for settlement agreement | $ 53 | ||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Income tax expense (benefit) | 19 | $ (295) | $ 29 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | $ (9) | $ (5) | $ (57) | $ 91 | $ 2 | $ 378 | $ (113) | $ (843) | 20 | (576) | 86 |
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract] | |||||||||||
Current assets | 364 | 364 | |||||||||
Current liabilities | 262 | 262 | |||||||||
Midwest Generation Business [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Operating Revenues | 543 | 1,748 | 1,885 | ||||||||
Loss on disposition | (45) | (929) | |||||||||
Income (loss) before income taxes | 59 | (818) | 141 | ||||||||
Income tax expense (benefit) | 26 | (294) | 56 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | 33 | (524) | 85 | ||||||||
Other Disposal Groups [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Income (Loss) From Discontinued Operations, net of tax | (13) | (52) | 1 | ||||||||
Duke Energy Ohio [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Income tax expense (benefit) | 22 | (300) | 32 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | $ (2) | $ (65) | $ 90 | 34 | $ 413 | $ (135) | $ (875) | 23 | (563) | 35 | |
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract] | |||||||||||
Current assets | 316 | 316 | |||||||||
Current liabilities | $ 246 | 246 | |||||||||
Duke Energy Ohio [Member] | Midwest Generation Business [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Operating Revenues | 412 | 1,299 | 1,503 | ||||||||
Loss on disposition | (52) | (959) | |||||||||
Income (loss) before income taxes | 44 | (863) | 67 | ||||||||
Income tax expense (benefit) | 21 | $ (300) | $ 32 | ||||||||
Antitrust Lawsuit [Member] | |||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||
Charge for settlement agreement | 81 | ||||||||||
Antitrust Lawsuit [Member] | Duke Energy Ohio [Member] | |||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||
Charge for settlement agreement | $ 81 |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015USD ($)segment | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Segment Reporting Information [Line Items] | |||
Interest expense | $ 1,613 | $ 1,622 | $ 1,543 |
Duke Energy Carolinas [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | segment | 1 | ||
Interest expense | $ 412 | 407 | 359 |
Progress Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | segment | 1 | ||
Interest expense | $ 670 | 675 | 680 |
Duke Energy Progress [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | segment | 1 | ||
Interest expense | $ 235 | 234 | 201 |
Duke Energy Progress [Member] | North Carolina Electric Membership Corporation [Member] | |||
Segment Reporting Information [Line Items] | |||
Entity-wide revenue, major customer, percentage | 10.00% | ||
Duke Energy Florida [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | segment | 1 | ||
Interest expense | $ 198 | 201 | 180 |
Duke Energy Ohio [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest expense | $ 79 | 86 | 74 |
Duke Energy Indiana [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | segment | 1 | ||
Interest expense | $ 176 | 171 | 170 |
Other Segment [Member] | Progress Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest expense | $ 240 | $ 241 | $ 300 |
National Methanol Company [Member] | International Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Equity method investment, ownership percentage | 25.00% |
Business Segments (Business Seg
Business Segments (Business Segment Data) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | $ 5,322 | $ 6,483 | $ 5,589 | $ 6,065 | $ 5,559 | $ 6,395 | $ 5,708 | $ 6,263 | $ 23,459 | $ 23,925 | $ 22,756 |
Interest expense | 1,613 | 1,622 | 1,543 | ||||||||
Depreciation and amortization | 3,144 | 3,066 | 2,668 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 69 | 130 | 122 | ||||||||
Income tax expense (benefit) from continuing operations | 1,326 | 1,669 | 1,205 | ||||||||
Segment income | 2,796 | 2,451 | 2,574 | ||||||||
Add back noncontrolling interests component | 15 | 14 | 16 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | (9) | (5) | (57) | 91 | 2 | 378 | (113) | (843) | 20 | (576) | 86 |
Net income (loss) | 482 | 935 | 547 | 867 | 100 | 1,269 | 613 | (93) | 2,831 | 1,889 | 2,676 |
Net Income (Loss) Attributable to Parent | 477 | 932 | 543 | 864 | 97 | 1,274 | 609 | (97) | 2,816 | 1,883 | 2,665 |
Deferred foreign taxes | (17) | (67) | 14 | ||||||||
Impairment charges | 120 | 81 | 399 | ||||||||
Current State and Local Tax Expense (Benefit) | (12) | 56 | (40) | ||||||||
Costs to achieve mergers | 30 | 24 | 22 | 21 | 33 | 56 | 61 | 55 | 97 | 205 | |
Charge for settlement agreement | 53 | ||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 8,363 | 5,528 | 5,607 | ||||||||
Assets | 121,156 | 120,557 | 121,156 | 120,557 | 114,779 | ||||||
Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 452 | 462 | 405 | 586 | 480 | 446 | 412 | 575 | 1,905 | 1,913 | 1,805 |
Interest expense | 79 | 86 | 74 | ||||||||
Depreciation and amortization | 227 | 214 | 213 | ||||||||
Income tax expense (benefit) from continuing operations | 81 | 43 | 43 | ||||||||
Segment income | 149 | 68 | 67 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | (2) | (65) | 90 | 34 | 413 | (135) | (875) | 23 | (563) | 35 | |
Net income (loss) | 43 | 32 | (52) | 149 | 63 | 439 | (107) | (890) | 172 | (495) | 102 |
Net Income (Loss) Attributable to Parent | 172 | (495) | 102 | ||||||||
Impairment charges | 94 | 5 | |||||||||
Current State and Local Tax Expense (Benefit) | (1) | 3 | (4) | ||||||||
Costs to achieve mergers | 1 | $ 1 | $ 1 | $ 1 | 2 | $ 3 | $ 4 | $ 2 | 4 | 11 | |
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 399 | 322 | 433 | ||||||||
Assets | 7,097 | 9,993 | 7,097 | 9,993 | 10,763 | ||||||
Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (115) | (123) | (135) | ||||||||
Interest expense | (6) | (22) | (6) | ||||||||
Segment income | (4) | (10) | (12) | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Assets | 188 | 189 | 188 | 189 | 188 | ||||||
Intersegment Eliminations [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (1) | (1) | |||||||||
Segment income | (1) | ||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Assets | (8) | (230) | (8) | (230) | (155) | ||||||
Other VIEs [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Impairment charges | 94 | ||||||||||
Regulated Utilities [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 22,024 | 22,228 | 20,871 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | (4) | (3) | (1) | ||||||||
Regulated Utilities [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,872 | 1,894 | |||||||||
Regulated Utilities [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 22,062 | 22,271 | 20,910 | ||||||||
Interest expense | 1,097 | 1,093 | 986 | ||||||||
Depreciation and amortization | 2,814 | 2,759 | 2,323 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | (4) | (3) | (1) | ||||||||
Income tax expense (benefit) from continuing operations | 1,647 | 1,628 | 1,522 | ||||||||
Segment income | 2,893 | 2,795 | 2,504 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 6,974 | 4,744 | 5,049 | ||||||||
Assets | 111,562 | 106,574 | 111,562 | 106,574 | 99,884 | ||||||
Regulated Utilities [Member] | Operating Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,873 | 1,895 | 1,765 | ||||||||
Interest expense | 78 | 81 | 74 | ||||||||
Depreciation and amortization | 226 | 211 | 200 | ||||||||
Income tax expense (benefit) from continuing operations | 105 | 117 | 91 | ||||||||
Segment income | 191 | 202 | 151 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 399 | 300 | 375 | ||||||||
Assets | 7,050 | 6,902 | 7,050 | 6,902 | 6,649 | ||||||
Regulated Utilities [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (38) | (43) | (39) | ||||||||
Regulated Utilities [Member] | Intersegment Eliminations [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (1) | (1) | |||||||||
Commercial Portfolio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Impairment charges | 94 | ||||||||||
Current State and Local Tax Expense (Benefit) | 41 | ||||||||||
Commercial Portfolio [Member] | Other VIEs [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Impairment charges | 94 | ||||||||||
International Energy [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,088 | 1,417 | 1,546 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 74 | 120 | 110 | ||||||||
Deferred foreign taxes | 373 | ||||||||||
International Energy [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,088 | 1,417 | 1,546 | ||||||||
Interest expense | 85 | 93 | 86 | ||||||||
Depreciation and amortization | 92 | 97 | 100 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 74 | 120 | 110 | ||||||||
Income tax expense (benefit) from continuing operations | 74 | 449 | 166 | ||||||||
Segment income | 225 | 55 | 408 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 45 | 67 | 67 | ||||||||
Assets | 3,271 | 5,093 | 3,271 | 5,093 | 4,998 | ||||||
Commercial Power [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 301 | 255 | 254 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | (3) | 10 | 7 | ||||||||
Commercial Power [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 14 | 19 | |||||||||
Commercial Power [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 301 | 255 | 260 | ||||||||
Interest expense | 44 | 58 | 61 | ||||||||
Depreciation and amortization | 104 | 92 | 110 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | (3) | 10 | 7 | ||||||||
Income tax expense (benefit) from continuing operations | (92) | (171) | (148) | ||||||||
Segment income | 4 | (55) | (88) | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 1,131 | 555 | 268 | ||||||||
Assets | 4,010 | 6,278 | 4,010 | 6,278 | 6,955 | ||||||
Commercial Power [Member] | Operating Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 14 | 19 | 40 | ||||||||
Interest expense | 5 | ||||||||||
Depreciation and amortization | 2 | 13 | |||||||||
Income tax expense (benefit) from continuing operations | (5) | (67) | (36) | ||||||||
Segment income | (8) | (121) | (65) | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 22 | 58 | |||||||||
Assets | 3,187 | 3,187 | 4,170 | ||||||||
Commercial Power [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (6) | ||||||||||
Total Reportable Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 23,413 | 23,900 | 22,671 | ||||||||
Total Reportable Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,886 | 1,913 | |||||||||
Total Reportable Segments [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 23,451 | 23,943 | 22,716 | ||||||||
Interest expense | 1,226 | 1,244 | 1,133 | ||||||||
Depreciation and amortization | 3,010 | 2,948 | 2,533 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 67 | 127 | 116 | ||||||||
Income tax expense (benefit) from continuing operations | 1,629 | 1,906 | 1,540 | ||||||||
Segment income | 3,122 | 2,795 | 2,824 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 8,150 | 5,366 | 5,384 | ||||||||
Assets | 118,843 | 117,945 | 118,843 | 117,945 | 111,837 | ||||||
Total Reportable Segments [Member] | Operating Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,887 | 1,914 | 1,805 | ||||||||
Interest expense | 78 | 86 | 74 | ||||||||
Depreciation and amortization | 226 | 213 | 213 | ||||||||
Income tax expense (benefit) from continuing operations | 100 | 50 | 55 | ||||||||
Segment income | 183 | 81 | 86 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 399 | 322 | 433 | ||||||||
Assets | 7,050 | 10,089 | 7,050 | 10,089 | 10,819 | ||||||
Total Reportable Segments [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (38) | (43) | (45) | ||||||||
Total Reportable Segments [Member] | Intersegment Eliminations [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (1) | (1) | |||||||||
Other Segment [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 46 | 25 | 85 | ||||||||
Other Segment [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 19 | ||||||||||
Other Segment [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | (77) | (80) | (90) | ||||||||
Other Segment [Member] | Corporate, Non-Segment [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 123 | 105 | 175 | ||||||||
Interest expense | 393 | 400 | 416 | ||||||||
Depreciation and amortization | 134 | 118 | 135 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 2 | 3 | 6 | ||||||||
Income tax expense (benefit) from continuing operations | (303) | (237) | (335) | ||||||||
Segment income | (322) | (334) | (238) | ||||||||
Costs to achieve mergers | 60 | ||||||||||
Cost Savings Initiative, Net of tax | 77 | ||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 213 | 162 | 223 | ||||||||
Assets | 2,125 | 2,423 | 2,125 | 2,423 | 2,754 | ||||||
Other Segment [Member] | Corporate, Non-Segment [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 19 | ||||||||||
Interest expense | 1 | ||||||||||
Depreciation and amortization | 1 | 1 | |||||||||
Income tax expense (benefit) from continuing operations | (19) | (7) | (12) | ||||||||
Segment income | (33) | (13) | (19) | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Assets | $ 55 | $ 134 | 55 | $ 134 | $ 99 | ||||||
Edwardsport IGCC Plant [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Impairment charges | $ 58 |
Business Segments (Schedule of
Business Segments (Schedule of Revenue and Long-Lived Assets, By Geographical Area) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Consolidated revenue | $ 5,322 | $ 6,483 | $ 5,589 | $ 6,065 | $ 5,559 | $ 6,395 | $ 5,708 | $ 6,263 | $ 23,459 | $ 23,925 | $ 22,756 |
Consolidated long-lived assets | 89,564 | 83,167 | 89,564 | 83,167 | 81,362 | ||||||
U.S. [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Consolidated revenue | 22,371 | 22,508 | 21,211 | ||||||||
Consolidated long-lived assets | 87,552 | 80,709 | 87,552 | 80,709 | 78,581 | ||||||
Latin America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Consolidated revenue | 1,088 | 1,417 | 1,545 | ||||||||
Consolidated long-lived assets | $ 2,012 | $ 2,458 | $ 2,012 | $ 2,458 | $ 2,781 |
Business Segments (Schedule o74
Business Segments (Schedule of Revenue, By Products and Services) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | $ 5,322 | $ 6,483 | $ 5,589 | $ 6,065 | $ 5,559 | $ 6,395 | $ 5,708 | $ 6,263 | $ 23,459 | $ 23,925 | $ 22,756 |
Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 22,024 | 22,228 | 20,871 | ||||||||
International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,088 | 1,417 | 1,546 | ||||||||
Commercial Power [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 301 | 255 | 254 | ||||||||
Total Reportable Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 23,413 | 23,900 | 22,671 | ||||||||
Retail Electric [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 18,695 | 19,007 | 17,837 | ||||||||
Retail Electric [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 18,695 | 19,007 | 17,837 | ||||||||
Wholesale Electric [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 3,299 | 3,460 | 3,427 | ||||||||
Wholesale Electric [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 2,014 | 1,879 | 1,720 | ||||||||
Wholesale Electric [Member] | International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,025 | 1,326 | 1,447 | ||||||||
Wholesale Electric [Member] | Commercial Power [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 260 | 255 | 260 | ||||||||
Retail Gas [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 546 | 571 | 506 | ||||||||
Retail Gas [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 546 | 571 | 506 | ||||||||
Wholesale Gas [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 63 | 91 | 99 | ||||||||
Wholesale Gas [Member] | International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 63 | 91 | 99 | ||||||||
Other Revenues [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 848 | 814 | 847 | ||||||||
Other Revenues [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 807 | 814 | 847 | ||||||||
Other Revenues [Member] | Commercial Power [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 41 | ||||||||||
Operating Segments [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 22,062 | 22,271 | 20,910 | ||||||||
Operating Segments [Member] | International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,088 | 1,417 | 1,546 | ||||||||
Operating Segments [Member] | Commercial Power [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 301 | 255 | 260 | ||||||||
Operating Segments [Member] | Total Reportable Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | $ 23,451 | $ 23,943 | $ 22,716 |
Business Segments (Schedule o75
Business Segments (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | |||
Segment income | $ 2,796 | $ 2,451 | $ 2,574 |
Duke Energy Carolinas [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | (95) | (79) | (97) |
Progress Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | 875 | 656 | |
Progress Energy [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | (159) | (190) | (241) |
Duke Energy Progress [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | (32) | (31) | (46) |
Duke Energy Florida [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | (16) | (19) | (24) |
Duke Energy Indiana [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | $ (10) | $ (11) | $ (16) |
Regulatory Matters (Narrative)
Regulatory Matters (Narrative) (Details) | Dec. 30, 2014USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2013USD ($) | Dec. 31, 2015USD ($)MW | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) |
Public Utilities, General Disclosures [Line Items] | |||||||||
Other Liabilities | $ 1,706,000,000 | $ 1,706,000,000 | $ 1,675,000,000 | ||||||
Accounts Payable, Current | 2,400,000,000 | 2,400,000,000 | 2,271,000,000 | ||||||
Decommissioning cost study estimate | 8,130,000,000 | 8,130,000,000 | |||||||
Restructuring Reserve | 136,000,000 | 136,000,000 | 28,000,000 | ||||||
Regulatory assets, current | $ 877,000,000 | $ 877,000,000 | 1,115,000,000 | ||||||
Net Asset Percentage Limit | 25.00% | 25.00% | |||||||
Impairment charges | $ 120,000,000 | 81,000,000 | $ 399,000,000 | ||||||
Other Nonoperating Income (Expense) | 307,000,000 | 351,000,000 | 262,000,000 | ||||||
Net property, plant and equipment | $ 75,709,000,000 | 75,709,000,000 | 70,046,000,000 | ||||||
Regulated Revenue | 21,379,000,000 | 21,550,000,000 | 20,329,000,000 | ||||||
Regulatory assets, noncurrent | 11,373,000,000 | 11,373,000,000 | 11,042,000,000 | ||||||
Regulatory liabilities, noncurrent | 6,255,000,000 | 6,255,000,000 | 6,193,000,000 | ||||||
Regulatory assets | 12,250,000,000 | 12,250,000,000 | 12,157,000,000 | ||||||
Capital expenditures | 6,766,000,000 | 5,384,000,000 | 5,526,000,000 | ||||||
Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 509,000,000 | 509,000,000 | 1,659,000,000 | ||||||
Nuclear asset securitizable balance, net [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 1,237,000,000 | 1,237,000,000 | |||||||
Nuclear Deferral [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 245,000,000 | 245,000,000 | 296,000,000 | ||||||
Generation Facilities To Be Retired [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Net property, plant and equipment | $ 352,000,000 | $ 352,000,000 | |||||||
Capacity (in MW) | MW | 1,821 | ||||||||
Atlantic Coast Pipeline (ACP) [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Joint owner ownership percentage | 40.00% | 40.00% | |||||||
Sabal Trail Transmission Pipeline [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Joint owner ownership percentage | 7.50% | 7.50% | |||||||
Duke Energy Carolinas [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Other Liabilities | $ 621,000,000 | $ 621,000,000 | 642,000,000 | ||||||
Accounts Payable, Current | 753,000,000 | 753,000,000 | 709,000,000 | ||||||
Restructuring Reserve | 78,000,000 | 78,000,000 | 2,000,000 | ||||||
Regulatory assets, current | 305,000,000 | 305,000,000 | 399,000,000 | ||||||
Impairment charges | 1,000,000 | 3,000,000 | |||||||
Other Nonoperating Income (Expense) | 160,000,000 | 172,000,000 | 120,000,000 | ||||||
Net property, plant and equipment | 25,877,000,000 | 25,877,000,000 | 24,672,000,000 | ||||||
Regulatory assets, noncurrent | 2,766,000,000 | 2,766,000,000 | 2,465,000,000 | ||||||
Regulatory liabilities, noncurrent | 2,802,000,000 | 2,802,000,000 | 2,710,000,000 | ||||||
Regulatory assets | 3,071,000,000 | 3,071,000,000 | 2,864,000,000 | ||||||
Capital expenditures | 1,933,000,000 | 1,879,000,000 | 1,695,000,000 | ||||||
Duke Energy Carolinas [Member] | Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 49,000,000 | 49,000,000 | 58,000,000 | ||||||
Duke Energy Carolinas [Member] | Nuclear Deferral [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 107,000,000 | $ 107,000,000 | 141,000,000 | ||||||
Duke Energy Carolinas [Member] | Minimum [Member] | Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory Noncurrent Asset, Amortization Period | 5 years | ||||||||
Duke Energy Carolinas [Member] | Maximum [Member] | Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory Noncurrent Asset, Amortization Period | 10 years | ||||||||
Duke Energy Carolinas [Member] | FERC Transmission Rates [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 10.20% | ||||||||
Duke Energy Carolinas [Member] | FERC Complaint [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Public Utilities, Requested Return on Equity, Percentage | 8.49% | ||||||||
Duke Energy Carolinas [Member] | William State Lee III Nuclear Station [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Net property, plant and equipment | 471,000,000 | $ 471,000,000 | |||||||
Duke Energy Carolinas [Member] | NCEMC [Member] | William States Lee Combined Cycle Facility [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated capital cost of new utility plant, including AFUDC | $ 600,000,000 | $ 600,000,000 | |||||||
Joint owner ownership percentage | 13.00% | 13.00% | |||||||
Duke Energy Progress [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Other Liabilities | $ 45,000,000 | $ 45,000,000 | 89,000,000 | ||||||
Accounts Payable, Current | 399,000,000 | 399,000,000 | 481,000,000 | ||||||
Restructuring Reserve | 19,000,000 | 19,000,000 | 1,000,000 | ||||||
Regulatory assets, current | 264,000,000 | 264,000,000 | 287,000,000 | ||||||
Payments to Acquire Businesses, Gross | 1,249,000,000 | ||||||||
Impairment charges | 5,000,000 | (18,000,000) | 22,000,000 | ||||||
Other Nonoperating Income (Expense) | 71,000,000 | 51,000,000 | 57,000,000 | ||||||
Net property, plant and equipment | 17,720,000,000 | 17,720,000,000 | 15,186,000,000 | ||||||
Regulatory assets, noncurrent | 2,710,000,000 | 2,710,000,000 | 2,675,000,000 | ||||||
Regulatory liabilities, noncurrent | 1,878,000,000 | 1,878,000,000 | 1,832,000,000 | ||||||
Regulatory assets | 2,974,000,000 | 2,974,000,000 | 2,962,000,000 | ||||||
Capital expenditures | $ 1,669,000,000 | 1,241,000,000 | 1,567,000,000 | ||||||
Duke Energy Progress [Member] | Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory Noncurrent Asset, Amortization Period | 10 years | ||||||||
Regulatory assets | 179,000,000 | $ 179,000,000 | 152,000,000 | ||||||
Duke Energy Progress [Member] | Nuclear Deferral [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 62,000,000 | $ 62,000,000 | 43,000,000 | ||||||
Duke Energy Progress [Member] | Maximum [Member] | Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory Noncurrent Asset, Amortization Period | 10 years | ||||||||
Duke Energy Progress [Member] | FERC Mitigation [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Impairment charges | $ (18,000,000) | ||||||||
Duke Energy Progress [Member] | FERC Transmission Rates [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 10.80% | ||||||||
Duke Energy Progress [Member] | FERC Complaint [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Public Utilities, Requested Return on Equity, Percentage | 8.49% | ||||||||
Duke Energy Progress [Member] | Western Carolinas Modernization Plan [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated capital cost | 1,100,000,000 | $ 1,100,000,000 | |||||||
Duke Energy Progress [Member] | Generation Facilities To Be Retired [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Net property, plant and equipment | 548,000,000 | $ 548,000,000 | |||||||
Capacity (in MW) | MW | 376 | ||||||||
Duke Energy Progress [Member] | Shearon Harris Nuclear Station [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Impairment charges | $ 22,000,000 | ||||||||
Regulatory assets, noncurrent | 48,000,000 | $ 48,000,000 | |||||||
Duke Energy Florida [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Other Liabilities | 146,000,000 | 146,000,000 | 158,000,000 | ||||||
Accounts Payable, Current | 322,000,000 | 322,000,000 | 365,000,000 | ||||||
Restructuring Reserve | 4,000,000 | 4,000,000 | 17,000,000 | ||||||
Regulatory assets, current | 98,000,000 | 98,000,000 | 203,000,000 | ||||||
Payments to Acquire Businesses, Gross | 166,000,000 | ||||||||
Impairment charges | 7,000,000 | 2,000,000 | 358,000,000 | ||||||
Other Nonoperating Income (Expense) | 24,000,000 | 20,000,000 | 30,000,000 | ||||||
Net property, plant and equipment | 10,623,000,000 | 10,623,000,000 | 9,955,000,000 | ||||||
Regulatory assets, noncurrent | 2,725,000,000 | 2,725,000,000 | 2,733,000,000 | ||||||
Regulatory liabilities, noncurrent | 509,000,000 | 509,000,000 | 547,000,000 | ||||||
Regulatory assets | 2,823,000,000 | 2,823,000,000 | 2,936,000,000 | ||||||
Capital expenditures | 1,029,000,000 | 699,000,000 | 915,000,000 | ||||||
Duke Energy Florida [Member] | Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 230,000,000 | 230,000,000 | 1,393,000,000 | ||||||
Duke Energy Florida [Member] | Nuclear asset securitizable balance, net [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 1,237,000,000 | 1,237,000,000 | |||||||
Duke Energy Florida [Member] | Nuclear Deferral [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 76,000,000 | 76,000,000 | 112,000,000 | ||||||
Duke Energy Florida [Member] | FPSC [Member] | Removal Costs [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Amount of reduction to carrying amount of regulatory liabilities | 114,000,000 | ||||||||
Duke Energy Florida [Member] | FERC Transmission Rates [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease) amount by state commission | $ (14,100,000) | ||||||||
Approved return on equity percentage amount by state commission | 10.80% | ||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.00% | ||||||||
Customer Refundable Fees, Refund Payments | 14,100,000 | ||||||||
Duke Energy Florida [Member] | FERC Complaint 3 [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 8.69% | ||||||||
Duke Energy Florida [Member] | 2013 FPSC Settlement Agreement [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 10.50% | ||||||||
Duke Energy Florida [Member] | 2013 FPSC Settlement Agreement [Member] | Minimum [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 9.50% | ||||||||
Duke Energy Florida [Member] | 2013 FPSC Settlement Agreement [Member] | Maximum [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 11.50% | ||||||||
Duke Energy Florida [Member] | 2012 FPSC Settlement Agreement [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease) amount by state commission | $ 150,000,000 | ||||||||
Total Customer Refunds To Be Paid | 388,000,000 | ||||||||
Customer Refund Liability, Current | 70,000,000 | 70,000,000 | |||||||
Duke Energy Florida [Member] | Generation Facilities To Be Retired [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Net property, plant and equipment | 131,000,000 | $ 131,000,000 | |||||||
Capacity (in MW) | MW | 873 | ||||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Decommissioning cost study estimate | 1,180,000,000 | $ 1,180,000,000 | |||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | ISFSI Projects [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 7.35% | ||||||||
Regulatory assets, noncurrent | 60,000,000 | $ 60,000,000 | |||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | 2013 FPSC Settlement Agreement [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Acceleration of cash recovery through fuel clause | 47,000,000 | ||||||||
Impairment charges | 295,000,000 | ||||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | 2013 FPSC Settlement Agreement [Member] | Original Uprate Project [Member] [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets, noncurrent | 169,000,000 | 169,000,000 | |||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | 2013 FPSC Settlement Agreement [Member] | FPSC [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Impairment charges | $ 15,000,000 | ||||||||
Amount of Regulatory Costs Not yet Approved | 1,298,000,000 | 1,298,000,000 | |||||||
Regulatory assets, noncurrent | 1,283,000,000 | $ 1,283,000,000 | |||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | 2013 FPSC Settlement Agreement [Member] | FPSC [Member] | Nuclear asset securitizable balance, net [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory Noncurrent Asset, Amortization Period | 20 years | ||||||||
Regulatory assets, noncurrent | 1,283,000,000 | $ 1,283,000,000 | |||||||
Duke Energy Florida [Member] | Levy Nuclear Station [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Restructuring Reserve | 25,000,000 | 25,000,000 | |||||||
Duke Energy Florida [Member] | Levy Nuclear Station [Member] | FPSC [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease) amount by state commission | 0 | ||||||||
Duke Energy Florida [Member] | Levy Nuclear Station [Member] | 2013 FPSC Settlement Agreement [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Impairment charges | $ 65,000,000 | ||||||||
Net unrecovered investment | 183,000,000 | 183,000,000 | |||||||
Net property, plant and equipment | 105,000,000 | 105,000,000 | |||||||
Regulatory assets, noncurrent | 78,000,000 | 78,000,000 | |||||||
Duke Energy Florida [Member] | Citrus County Station [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated capital cost of new utility plant, including AFUDC | 1,500,000,000 | 1,500,000,000 | |||||||
Duke Energy Florida [Member] | Suwannee Station [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated capital cost of new utility plant, including AFUDC | 197,000,000 | 197,000,000 | |||||||
Duke Energy Ohio [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Other Liabilities | 165,000,000 | 165,000,000 | 166,000,000 | ||||||
Accounts Payable, Current | 207,000,000 | 207,000,000 | 209,000,000 | ||||||
Regulatory assets, current | $ 36,000,000 | $ 36,000,000 | 49,000,000 | ||||||
Limit of Total Capital | 30.00% | 30.00% | |||||||
Impairment charges | 94,000,000 | 5,000,000 | |||||||
Other Nonoperating Income (Expense) | $ 6,000,000 | 10,000,000 | 2,000,000 | ||||||
Net property, plant and equipment | $ 5,243,000,000 | 5,243,000,000 | 4,937,000,000 | ||||||
Regulated Revenue | 1,331,000,000 | 1,316,000,000 | 1,258,000,000 | ||||||
Regulatory assets, noncurrent | 497,000,000 | 497,000,000 | 512,000,000 | ||||||
Regulatory liabilities, noncurrent | 245,000,000 | 245,000,000 | 241,000,000 | ||||||
Regulatory assets | 533,000,000 | 533,000,000 | 561,000,000 | ||||||
Capital expenditures | $ 399,000,000 | 322,000,000 | 434,000,000 | ||||||
Duke Energy Ohio [Member] | Natural Gas Rate Case [Member] | PUCO [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 9.84% | ||||||||
Duke Energy Ohio [Member] | Mgp Remediation [Member] | PUCO [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease) amount by state commission | $ 56,000,000 | ||||||||
Duke Energy Ohio [Member] | FERC Transmission Rates [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 12.38% | ||||||||
Duke Energy Ohio [Member] | FERC Complaint 1 [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 11.38% | ||||||||
Percentage Recovered Through Future Rate Case | 30.00% | ||||||||
Duke Energy Ohio [Member] | Accelerated Natural Gas Service Line Replacement Rider | PUCO [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated capital and operations and maintenance cost | $ 320,000,000 | ||||||||
Duke Energy Ohio [Member] | Energy Efficiency and Peak Demand Reduction Program [Member] | PUCO [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulated Revenue | 20,000,000 | $ (23,000,000) | |||||||
Duke Energy Ohio [Member] | RTO Realignment [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Restructuring Reserve | $ 92,000,000 | $ 92,000,000 | 94,000,000 | ||||||
Approved MVP Proposals | 17 | 17 | |||||||
MISO estimate of Duke Energy Ohio's MVP obligation | $ 2,700,000,000 | ||||||||
Regulatory assets | $ 72,000,000 | $ 72,000,000 | |||||||
Duke Energy Ohio [Member] | Dayton Power and Light [Member] | East Bend Station [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Joint owner ownership percentage | 31.00% | ||||||||
Capital expenditures | $ 12,400,000 | ||||||||
Duke Energy Kentucky [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Required Equity Capital Structure Percent | 35.00% | 35.00% | |||||||
Duke Energy Indiana [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Other Liabilities | $ 65,000,000 | $ 65,000,000 | 90,000,000 | ||||||
Accounts Payable, Current | 189,000,000 | 189,000,000 | 179,000,000 | ||||||
Regulatory assets, current | 102,000,000 | 102,000,000 | 93,000,000 | ||||||
Impairment charges | 88,000,000 | ||||||||
Other Nonoperating Income (Expense) | 11,000,000 | 22,000,000 | 18,000,000 | ||||||
Net property, plant and equipment | 9,523,000,000 | 9,523,000,000 | 8,815,000,000 | ||||||
Regulatory assets, noncurrent | 716,000,000 | 716,000,000 | 685,000,000 | ||||||
Regulatory liabilities, noncurrent | 754,000,000 | 754,000,000 | 796,000,000 | ||||||
Regulatory assets | 818,000,000 | 818,000,000 | 778,000,000 | ||||||
Capital expenditures | 690,000,000 | 625,000,000 | $ 545,000,000 | ||||||
Duke Energy Indiana [Member] | Retired Generation Facilities [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Regulatory assets | 51,000,000 | $ 51,000,000 | $ 56,000,000 | ||||||
Duke Energy Indiana [Member] | FERC Transmission Rates [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 12.38% | ||||||||
Duke Energy Indiana [Member] | FERC Transmission Rates [Member] | Federal Energy Regulatory Commission [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved return on equity percentage amount by state commission | 0.50% | ||||||||
Duke Energy Indiana [Member] | FERC Complaint 2 [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Public Utilities, Requested Return on Equity, Percentage | 8.67% | ||||||||
Duke Energy Indiana [Member] | FERC Complaint 2 [Member] | Federal Energy Regulatory Commission [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Public Utilities, Requested Return on Equity, Percentage | 10.32% | ||||||||
Duke Energy Indiana [Member] | Grid Infrastructure Improvement Plan [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated capital cost | 1,900,000,000 | $ 1,900,000,000 | |||||||
Duke Energy Indiana [Member] | Revised Grid Infrastructure Improvement Plan [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated capital cost | 1,800,000,000 | 1,800,000,000 | |||||||
Duke Energy Indiana [Member] | Edwardsport IGCC Plant [Member] | IGCC Rider Proceeding [Member] | IURC [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Amount of Impairment to Carrying Amount of Regulatory Assets | 80,300,000 | 80,300,000 | |||||||
Other Liabilities | 7,200,000 | 7,200,000 | |||||||
Legal Fees | 5,500,000 | ||||||||
Accounts Payable, Current | 5,500,000 | $ 5,500,000 | |||||||
Regulatory Noncurrent Asset, Amortization Period | 8 years | ||||||||
Impairment charges | $ 87,500,000 | ||||||||
Other Nonoperating Income (Expense) | 5,500,000 | ||||||||
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount | (87,500,000) | ||||||||
Regulatory assets | 128,000,000 | 128,000,000 | |||||||
Duke Energy Indiana [Member] | Generation Facilities To Be Retired [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Net property, plant and equipment | $ 221,000,000 | $ 221,000,000 | |||||||
Capacity (in MW) | MW | 948 | ||||||||
Dominion Resources [Member] | Atlantic Coast Pipeline (ACP) [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Joint owner ownership percentage | 45.00% | 45.00% | |||||||
Piedmont Natural Gas [Member] | Atlantic Coast Pipeline (ACP) [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Joint owner ownership percentage | 10.00% | 10.00% | |||||||
Spectra Energy [Member] | Sabal Trail Transmission Pipeline [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Joint owner ownership percentage | 59.50% | 59.50% | |||||||
NextEra [Member] | Sabal Trail Transmission Pipeline [Member] | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Joint owner ownership percentage | 33.00% | 33.00% |
Regulatory Matters (Schedule of
Regulatory Matters (Schedule of Regulatory Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | $ 12,250 | $ 12,157 |
Regulatory assets, current | 877 | 1,115 |
Regulatory assets, noncurrent | 11,373 | 11,042 |
Regulatory liabilities | 6,655 | 6,397 |
Regulatory liabilities - current | 400 | 204 |
Regulatory liabilities, noncurrent | 6,255 | 6,193 |
Costs of Removal [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 5,329 | 5,221 |
Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 71 | 166 |
Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 150 | 150 |
Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 288 | 379 |
Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 311 | 37 |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 506 | 444 |
Asset retirement obligations - coal ash [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,555 | 1,992 |
Asset retirement obligations - nuclear and other [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 838 | 1,025 |
Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,151 | 2,015 |
Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 509 | 1,659 |
Debt Fair Value Adjustment [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,191 | 1,305 |
Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,075 | 1,144 |
Nuclear asset securitizable balance, net [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,237 | |
Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 571 | 628 |
Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 340 | 330 |
Grid Modernization [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 68 | 76 |
Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 192 | 213 |
Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 151 | 246 |
Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 245 | 296 |
Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 383 | 494 |
Gasification Services Agreement Buyout Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 32 | 55 |
Transmission Expansion Obligation [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 72 | 70 |
Manufactured Gas Plant Environmental Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 104 | 115 |
NCEMPA deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 21 | |
East Bend deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 16 | |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 499 | 494 |
Duke Energy Carolinas [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 3,071 | 2,864 |
Regulatory assets, current | 305 | 399 |
Regulatory assets, noncurrent | 2,766 | 2,465 |
Regulatory liabilities | 2,841 | 2,744 |
Regulatory liabilities - current | 39 | 34 |
Regulatory liabilities, noncurrent | 2,802 | 2,710 |
Duke Energy Carolinas [Member] | Costs of Removal [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 2,413 | 2,420 |
Duke Energy Carolinas [Member] | Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 24 | 25 |
Duke Energy Carolinas [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 68 | 76 |
Duke Energy Carolinas [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 55 | 6 |
Duke Energy Carolinas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 281 | 217 |
Duke Energy Carolinas [Member] | Asset retirement obligations - coal ash [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,120 | 840 |
Duke Energy Carolinas [Member] | Asset retirement obligations - nuclear and other [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 104 | 67 |
Duke Energy Carolinas [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 479 | 412 |
Duke Energy Carolinas [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 49 | 58 |
Duke Energy Carolinas [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 564 | 614 |
Duke Energy Carolinas [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 127 | 103 |
Duke Energy Carolinas [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 80 | 106 |
Duke Energy Carolinas [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 79 | 86 |
Duke Energy Carolinas [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 21 | 50 |
Duke Energy Carolinas [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 107 | 141 |
Duke Energy Carolinas [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 97 | 124 |
Duke Energy Carolinas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 244 | 263 |
Progress Energy [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 5,797 | 5,899 |
Regulatory assets, current | 362 | 491 |
Regulatory assets, noncurrent | 5,435 | 5,408 |
Regulatory liabilities | 2,673 | 2,485 |
Regulatory liabilities - current | 286 | 106 |
Regulatory liabilities, noncurrent | 2,387 | 2,379 |
Progress Energy [Member] | Costs of Removal [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 2,078 | 1,975 |
Progress Energy [Member] | Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 70 | |
Progress Energy [Member] | Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 125 | 125 |
Progress Energy [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 51 | 121 |
Progress Energy [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 255 | 23 |
Progress Energy [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 164 | 171 |
Progress Energy [Member] | Asset retirement obligations - coal ash [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,394 | 1,152 |
Progress Energy [Member] | Asset retirement obligations - nuclear and other [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 487 | 730 |
Progress Energy [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 807 | 812 |
Progress Energy [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 409 | 1,545 |
Progress Energy [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 318 | 354 |
Progress Energy [Member] | Nuclear asset securitizable balance, net [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,237 | |
Progress Energy [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 410 | 490 |
Progress Energy [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 250 | 203 |
Progress Energy [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 38 | 46 |
Progress Energy [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 129 | 182 |
Progress Energy [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 138 | 155 |
Progress Energy [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 38 | 121 |
Progress Energy [Member] | NCEMPA deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 21 | |
Progress Energy [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 121 | 109 |
Duke Energy Progress [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,974 | 2,962 |
Regulatory assets, current | 264 | 287 |
Regulatory assets, noncurrent | 2,710 | 2,675 |
Regulatory liabilities | 1,963 | 1,903 |
Regulatory liabilities - current | 85 | 71 |
Regulatory liabilities, noncurrent | 1,878 | 1,832 |
Duke Energy Progress [Member] | Costs of Removal [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 1,725 | 1,692 |
Duke Energy Progress [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 25 | 61 |
Duke Energy Progress [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 58 | 23 |
Duke Energy Progress [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 155 | 127 |
Duke Energy Progress [Member] | Asset retirement obligations - coal ash [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,386 | 1,152 |
Duke Energy Progress [Member] | Asset retirement obligations - nuclear and other [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 195 | 432 |
Duke Energy Progress [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 366 | 354 |
Duke Energy Progress [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 179 | 152 |
Duke Energy Progress [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 106 | 141 |
Duke Energy Progress [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 171 | 217 |
Duke Energy Progress [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 237 | 193 |
Duke Energy Progress [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 38 | 46 |
Duke Energy Progress [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 93 | 138 |
Duke Energy Progress [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 62 | 43 |
Duke Energy Progress [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 38 | 28 |
Duke Energy Progress [Member] | NCEMPA deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 21 | |
Duke Energy Progress [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 82 | 66 |
Duke Energy Florida [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,823 | 2,936 |
Regulatory assets, current | 98 | 203 |
Regulatory assets, noncurrent | 2,725 | 2,733 |
Regulatory liabilities | 709 | 582 |
Regulatory liabilities - current | 200 | 35 |
Regulatory liabilities, noncurrent | 509 | 547 |
Duke Energy Florida [Member] | Costs of Removal [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 353 | 283 |
Duke Energy Florida [Member] | Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 70 | |
Duke Energy Florida [Member] | Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 125 | 125 |
Duke Energy Florida [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 26 | 60 |
Duke Energy Florida [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 197 | |
Duke Energy Florida [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 8 | 44 |
Duke Energy Florida [Member] | Asset retirement obligations - coal ash [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 8 | |
Duke Energy Florida [Member] | Asset retirement obligations - nuclear and other [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 292 | 298 |
Duke Energy Florida [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 441 | 458 |
Duke Energy Florida [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 230 | 1,393 |
Duke Energy Florida [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 212 | 213 |
Duke Energy Florida [Member] | Nuclear asset securitizable balance, net [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,237 | |
Duke Energy Florida [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 239 | 273 |
Duke Energy Florida [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 13 | 10 |
Duke Energy Florida [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 36 | 44 |
Duke Energy Florida [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 76 | 112 |
Duke Energy Florida [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 93 | |
Duke Energy Florida [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 39 | 42 |
Duke Energy Ohio [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 533 | 561 |
Regulatory assets, current | 36 | 49 |
Regulatory assets, noncurrent | 497 | 512 |
Regulatory liabilities | 257 | 251 |
Regulatory liabilities - current | 12 | 10 |
Regulatory liabilities, noncurrent | 245 | 241 |
Duke Energy Ohio [Member] | Costs of Removal [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 222 | 222 |
Duke Energy Ohio [Member] | Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 1 | |
Duke Energy Ohio [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 21 | 19 |
Duke Energy Ohio [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 1 | |
Duke Energy Ohio [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 12 | 10 |
Duke Energy Ohio [Member] | Asset retirement obligations - coal ash [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 4 | |
Duke Energy Ohio [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 139 | 132 |
Duke Energy Ohio [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 55 | 64 |
Duke Energy Ohio [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 7 | 7 |
Duke Energy Ohio [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 10 | 21 |
Duke Energy Ohio [Member] | Grid Modernization [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 68 | 76 |
Duke Energy Ohio [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 5 | 6 |
Duke Energy Ohio [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1 | 9 |
Duke Energy Ohio [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 21 | 21 |
Duke Energy Ohio [Member] | Gasification Services Agreement Buyout Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 0 | |
Duke Energy Ohio [Member] | Transmission Expansion Obligation [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 72 | 74 |
Duke Energy Ohio [Member] | Manufactured Gas Plant Environmental Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 104 | 115 |
Duke Energy Ohio [Member] | East Bend deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 16 | |
Duke Energy Ohio [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 31 | 36 |
Duke Energy Indiana [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 818 | 778 |
Regulatory assets, current | 102 | 93 |
Regulatory assets, noncurrent | 716 | 685 |
Regulatory liabilities | 816 | 850 |
Regulatory liabilities - current | 62 | 54 |
Regulatory liabilities, noncurrent | 754 | 796 |
Duke Energy Indiana [Member] | Costs of Removal [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 616 | 613 |
Duke Energy Indiana [Member] | Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 71 | 96 |
Duke Energy Indiana [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 83 | 91 |
Duke Energy Indiana [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 8 | |
Duke Energy Indiana [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 46 | 42 |
Duke Energy Indiana [Member] | Asset retirement obligations - coal ash [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 37 | |
Duke Energy Indiana [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 220 | 217 |
Duke Energy Indiana [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 51 | 56 |
Duke Energy Indiana [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 120 | 111 |
Duke Energy Indiana [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 27 | 28 |
Duke Energy Indiana [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 10 | 12 |
Duke Energy Indiana [Member] | Deferred Fuel and Purchased Power [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 5 | |
Duke Energy Indiana [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 227 | 228 |
Duke Energy Indiana [Member] | Gasification Services Agreement Buyout Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 32 | 55 |
Duke Energy Indiana [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | $ 94 | $ 66 |
Regulatory Matters (Schedule 78
Regulatory Matters (Schedule of MISO Exit fees)(Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Restructuring Reserve [Roll Forward] | ||
Balance, beginning of period | $ 28 | |
Provision/adjustments | 144 | |
Cash reductions | (36) | |
Balance, end of period | 136 | |
Total regulatory assets | 12,250 | $ 12,157 |
Duke Energy Ohio [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Total regulatory assets | 533 | $ 561 |
Duke Energy Ohio [Member] | RTO Realignment [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Balance, beginning of period | 94 | |
Provision/adjustments | 3 | |
Cash reductions | (5) | |
Balance, end of period | 92 | |
Total regulatory assets | $ 72 |
Regulatory Matters (Schedule 79
Regulatory Matters (Schedule of Net Carrying Value Of Facilities As Well As the Remaining Non-current Regulatory Assets) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2015USD ($)MW | Dec. 31, 2014USD ($) | |
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | $ 75,709 | $ 70,046 |
Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 1,821 | |
Net property, plant and equipment | $ 352 | |
Duke Energy Carolinas [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 25,877 | 24,672 |
Progress Energy [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | $ 28,347 | 25,144 |
Progress Energy [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 873 | |
Net property, plant and equipment | $ 131 | |
Duke Energy Progress [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | $ 17,720 | 15,186 |
Duke Energy Progress [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 376 | |
Net property, plant and equipment | $ 548 | |
Duke Energy Florida [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | $ 10,623 | 9,955 |
Duke Energy Florida [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 873 | |
Net property, plant and equipment | $ 131 | |
Duke Energy Ohio [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 5,243 | 4,937 |
Duke Energy Indiana [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | $ 9,523 | $ 8,815 |
Duke Energy Indiana [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 948 | |
Net property, plant and equipment | $ 221 |
Commitments and Contingencies80
Commitments and Contingencies (Narrative) (Details) T in Thousands | Feb. 08, 2016USD ($) | Aug. 10, 2011 | Aug. 09, 2011 | Dec. 31, 2015USD ($)plantClaimsprojectreactor | Dec. 31, 2014USD ($) | Dec. 31, 2000USD ($) | Aug. 18, 2014gal | Feb. 08, 2014Tgal |
Insurance [Abstract] | ||||||||
Insured public liability limit per nuclear incident | $ 13,500,000,000 | |||||||
Excess nuclear liability program coverage | 13,100,000,000 | |||||||
Pro rata assessment for each reactor owned for each incident exceeding public liability insurance | $ 127,000,000 | |||||||
Number of licensed nuclear reactors | reactor | 103 | |||||||
Annual payment limit to pro rata assessments | $ 19,000,000 | |||||||
Industry aggregate limit | 3,200,000,000 | |||||||
Sublimit for non-nuclear terrorist events | $ 1,830,000,000 | |||||||
Insurance Coverage Percentage Initial Weeks | 100.00% | |||||||
Accidental Outage Insurance Coverage Initial Weeks | 365 days | |||||||
Insurance Coverage Percentage Additional Weeks | 80.00% | |||||||
Accidental Outage Insurance Coverage Additional Weeks | 770 days | |||||||
Weeks of Sublimits for Accidental Outage Coverage | 728 days | |||||||
Sublimit accidental outage recovery | $ 328,000,000 | |||||||
Maximum Magnitude of Retroactive Premiums | 10 | |||||||
Maximum Period for Retroactive Premium Assessment | 6 years | |||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Charge for settlement agreement | $ 53,000,000 | |||||||
Progress Energy Merger Shareholder Litigation [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Litigation Settlement Covered by Insurance | 121,000,000 | |||||||
Payments for Legal Settlements | 25,000,000 | |||||||
Litigation Settlement, Amount | $ 146,000,000 | |||||||
Brazil Expansion Lawsuit [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Obligation to expand installed generation capacity, percent | 15.00% | 15.00% | ||||||
North Carolina Ash Basins [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Facilities with Ash Basins | plant | 14 | |||||||
Ash Basins Fines and Restitution [Member] | USDOJ [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Litigation Settlement, Expense | $ 68,000,000 | |||||||
Ash Basins Community Service and Mitigation [Member] | USDOJ [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Litigation Settlement, Expense | 34,000,000 | |||||||
Antitrust Lawsuit [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Charge for settlement agreement | 81,000,000 | |||||||
Duke Energy Carolinas [Member] | ||||||||
Insurance [Abstract] | ||||||||
Primary nuclear liability program coverage | 375,000,000 | |||||||
Max Retroactive Premium Assessments | 159,000,000 | |||||||
Duke Energy Carolinas [Member] | McGuire Nuclear Station [Member] | ||||||||
Insurance [Abstract] | ||||||||
Sublimit property damage losses | 1,500,000,000 | |||||||
Additional nuclear accident limit | 1,250,000,000 | |||||||
Accidental outage insurance coverage policy limit | 490,000,000 | |||||||
Duke Energy Carolinas [Member] | Catawba Nuclear Station [Member] | ||||||||
Insurance [Abstract] | ||||||||
Sublimit property damage losses | 1,500,000,000 | |||||||
Dedicated additional nuclear accident limit | 1,250,000,000 | |||||||
Additional Non Nuclear Accident Limit | 750,000,000 | |||||||
Accidental outage insurance coverage policy limit | $ 490,000,000 | |||||||
Potential Obligation percentage | 100.00% | |||||||
Duke Energy Carolinas [Member] | Oconee Nuclear Station [Member] | ||||||||
Insurance [Abstract] | ||||||||
Sublimit property damage losses | $ 1,500,000,000 | |||||||
Additional nuclear accident limit | 1,250,000,000 | |||||||
Additional Non Nuclear Accident Limit | 750,000,000 | |||||||
Accidental outage insurance coverage policy limit | 490,000,000 | |||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Minimum Master Credit Facility Balance required | 250,000,000 | |||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Dan River [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Environmental Remediation Expense | $ 24,000,000 | |||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Dan River [Member] | Minimum [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Estimated amount of ash released, in tons | T | 30 | |||||||
Estimated amount of ash basin water released, in gallons | gal | 24,000,000 | |||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Dan River [Member] | Maximum [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Estimated amount of ash released, in tons | T | 39 | |||||||
Estimated amount of ash basin water released, in gallons | gal | 27,000,000 | |||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Operating Expense [Member] | USDOJ [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Litigation Settlement, Expense | 72,000,000 | |||||||
Duke Energy Carolinas [Member] | Groundwater Violation [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Charge for settlement agreement | $ 1,000,000 | |||||||
Duke Energy Carolinas [Member] | New Source Review Provisions Of Clean Air Act [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Maximum civil penalties per day for each violation | $ 37,500 | |||||||
Projects with Alleged NSR Violations | project | 29 | |||||||
Number of Coal Plants with Alleged NSR Violations | plant | 25 | |||||||
Loss contingency, pending claims, number | Claims | 13 | |||||||
Remaining Number of Coal Units with Alleged NSR Violations | plant | 13 | |||||||
Number of Retired Coal Plants | plant | 11 | |||||||
Litigation Settlement, Amount | $ 4,000,000 | |||||||
Civil Penalty Assessed | 975,000 | |||||||
Duke Energy Carolinas [Member] | Asbestos Issue [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Asbestos-related injuries and damages reserves | 536,000,000 | 575,000,000 | ||||||
Reinsurance retention policy, excess retention, amount reinsured | 847,000,000 | |||||||
Probable insurance recoveries | $ 599,000,000 | 616,000,000 | ||||||
Duke Energy Carolinas [Member] | Asbestos Issue [Member] | Non Malignant Asbestos Claim [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Loss contingency, pending claims, number | Claims | 156 | |||||||
Asbestos-related injuries and damages reserves | $ 37,000,000 | |||||||
Duke Energy Carolinas [Member] | Asbestos Issue [Member] | Malignant Asbestos Claim [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Loss contingency, pending claims, number | Claims | 70 | |||||||
Asbestos-related injuries and damages reserves | $ 11,000,000 | |||||||
Duke Energy Progress [Member] | ||||||||
Insurance [Abstract] | ||||||||
Primary nuclear liability program coverage | 375,000,000 | |||||||
Max Retroactive Premium Assessments | 108,000,000 | |||||||
Duke Energy Progress [Member] | Robinson Nuclear Station [Member] | ||||||||
Insurance [Abstract] | ||||||||
Sublimit property damage losses | 1,500,000,000 | |||||||
Additional nuclear accident limit | 1,250,000,000 | |||||||
Accidental outage insurance coverage policy limit | 457,000,000 | |||||||
Duke Energy Progress [Member] | Brunswick Nuclear Station [Member] | ||||||||
Insurance [Abstract] | ||||||||
Sublimit property damage losses | 1,500,000,000 | |||||||
Additional nuclear accident limit | 1,250,000,000 | |||||||
Accidental outage insurance coverage policy limit | 490,000,000 | |||||||
Duke Energy Progress [Member] | Shearon Harris Nuclear Station [Member] | ||||||||
Insurance [Abstract] | ||||||||
Sublimit property damage losses | 1,500,000,000 | |||||||
Additional nuclear accident limit | 1,250,000,000 | |||||||
Accidental outage insurance coverage policy limit | 490,000,000 | |||||||
Duke Energy Progress [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Minimum Master Credit Facility Balance required | 250,000,000 | |||||||
Duke Energy Progress [Member] | North Carolina Ash Basins [Member] | L V Sutton Plant [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Civil Penalty Assessed | 25,000,000 | |||||||
Duke Energy Progress [Member] | North Carolina Ash Basins [Member] | Operating Expense [Member] | USDOJ [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Litigation Settlement, Expense | 30,000,000 | |||||||
Duke Energy Progress [Member] | Groundwater Violation [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Charge for settlement agreement | 6,000,000 | |||||||
Duke Energy Progress [Member] | Groundwater Violation [Member] | L V Sutton Plant [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Civil Penalty Assessed | 25,000,000 | |||||||
Duke Energy Progress [Member] | Spent Nuclear Fuels [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Gain related to litigation settlement | 83,000,000 | |||||||
Gain contingency, unrecorded amount | 48,000,000 | |||||||
Duke Energy Florida [Member] | ||||||||
Insurance [Abstract] | ||||||||
Primary nuclear liability program coverage | 375,000,000 | |||||||
Max Retroactive Premium Assessments | 7,000,000 | |||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | ||||||||
Insurance [Abstract] | ||||||||
Sublimit property damage losses | $ 1,000,000,000 | |||||||
Potential Obligation percentage | 100.00% | |||||||
Duke Energy Florida [Member] | Spent Nuclear Fuels [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Gain related to litigation settlement | $ 21,000,000 | |||||||
Gain contingency, unrecorded amount | $ 25,000,000 | |||||||
Duke Energy Florida [Member] | Westinghouse Electric Company Litigation [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Gain contingency, unrecorded amount | 54,000,000 | |||||||
Loss contingency, damages sought, value | 510,000,000 | |||||||
Duke Energy Ohio [Member] | W.C. Beckjord Station [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Gallons of Fuel Released | gal | 9,000 | |||||||
Duke Energy Ohio [Member] | Antitrust Lawsuit [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Litigation Settlement, Expense | 81,000,000 | |||||||
Charge for settlement agreement | $ 81,000,000 | |||||||
Subsequent Event [Member] | Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Dan River [Member] | ||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||
Civil Penalty Assessed | $ 6,800,000 |
Commitments and Contingencies81
Commitments and Contingencies (Schedule of Environmental Loss Contingencies)(Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | $ 97 | $ 79 | $ 75 |
Provision/adjustments | 9 | 32 | 26 |
Cash reductions | (9) | (14) | (22) |
Ending balance | 97 | 97 | 79 |
Duke Energy Carolinas [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 10 | 11 | 12 |
Provision/adjustments | 1 | (1) | |
Cash reductions | (1) | (1) | |
Ending balance | 10 | 10 | 11 |
Progress Energy [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 17 | 27 | 33 |
Provision/adjustments | 4 | 1 | 4 |
Cash reductions | (4) | (11) | (10) |
Ending balance | 17 | 17 | 27 |
Duke Energy Progress [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 5 | 8 | 14 |
Provision/adjustments | 4 | (1) | |
Cash reductions | (2) | (7) | (5) |
Ending balance | 3 | 5 | 8 |
Duke Energy Florida [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 12 | 19 | 19 |
Provision/adjustments | 4 | (3) | 5 |
Cash reductions | (2) | (4) | (5) |
Ending balance | 14 | 12 | 19 |
Duke Energy Ohio [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 54 | 27 | 15 |
Provision/adjustments | 1 | 28 | 20 |
Cash reductions | (1) | (1) | (8) |
Ending balance | 54 | 54 | 27 |
Duke Energy Indiana [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 10 | 7 | 8 |
Provision/adjustments | 5 | 4 | 1 |
Cash reductions | (3) | (1) | (2) |
Ending balance | 12 | $ 10 | $ 7 |
Environmental Reserves [Member] | |||
Disclosure Environmental Matters Details [Line Items] | |||
Environmental Exit Costs, Reasonably Possible Additional Loss | 74 | ||
Environmental Reserves [Member] | Duke Energy Carolinas [Member] | |||
Disclosure Environmental Matters Details [Line Items] | |||
Environmental Exit Costs, Reasonably Possible Additional Loss | 22 | ||
Environmental Reserves [Member] | Duke Energy Ohio [Member] | |||
Disclosure Environmental Matters Details [Line Items] | |||
Environmental Exit Costs, Reasonably Possible Additional Loss | 42 | ||
Environmental Reserves [Member] | Duke Energy Indiana [Member] | |||
Disclosure Environmental Matters Details [Line Items] | |||
Environmental Exit Costs, Reasonably Possible Additional Loss | $ 7 |
Commitments and Contingencies82
Commitments and Contingencies (Schedule of Legal Reserves) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | $ 166 | $ 323 |
Duke Energy Carolinas [Member] | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 11 | 72 |
Progress Energy [Member] | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 54 | 93 |
Duke Energy Progress [Member] | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 6 | 37 |
Duke Energy Florida [Member] | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 31 | $ 36 |
Duke Energy Ohio [Member] | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | $ 80 |
Commitments and Contingencies83
Commitments and Contingencies (PurchPower)(Details) - Public Utilities Purchased Power [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Duke Energy Progress [Member] | |
Unconditional Purchase Obligations [Abstract] | |
2,016 | $ 54 |
2,017 | 60 |
2,018 | 61 |
2,019 | 62 |
2,020 | 49 |
Thereafter | 363 |
Total | $ 649 |
Duke Energy Progress [Member] | Minimum [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2,019 |
Long-term contract for purchase of electric power, share of plant output being purchased | 15.00% |
Duke Energy Progress [Member] | Maximum [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2,031 |
Long-term contract for purchase of electric power, share of plant output being purchased | 100.00% |
Duke Energy Florida [Member] | |
Unconditional Purchase Obligations [Abstract] | |
2,016 | $ 305 |
2,017 | 345 |
2,018 | 360 |
2,019 | 377 |
2,020 | 394 |
Thereafter | 1,591 |
Total | $ 3,372 |
Duke Energy Florida [Member] | Minimum [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2,021 |
Long-term contract for purchase of electric power, share of plant output being purchased | 80.00% |
Duke Energy Florida [Member] | Maximum [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2,043 |
Long-term contract for purchase of electric power, share of plant output being purchased | 100.00% |
Duke Energy Ohio [Member] | |
Unconditional Purchase Obligations [Abstract] | |
2,016 | $ 236 |
2,017 | 195 |
2,018 | 59 |
Total | $ 490 |
Duke Energy Ohio [Member] | Minimum [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2,017 |
Long-term contract for purchase of electric power, share of plant output being purchased | 1.00% |
Duke Energy Ohio [Member] | Maximum [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2,018 |
Long-term contract for purchase of electric power, share of plant output being purchased | 11.00% |
Commitments and Contingencies84
Commitments and Contingencies (Future Minimum Payments for Operating and Capital Leases) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Leased Assets | |||
Rental expense on operating leases | $ 318 | $ 355 | $ 321 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 219 | ||
2,017 | 182 | ||
2,018 | 161 | ||
2,019 | 146 | ||
2,020 | 127 | ||
Thereafter | 864 | ||
Total future minimum lease payments | 1,699 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 173 | ||
2,017 | 171 | ||
2,018 | 180 | ||
2,019 | 178 | ||
2,020 | 182 | ||
Thereafter | 1,176 | ||
Minimum annual payments | 2,060 | ||
Less amount representing interest | (724) | ||
Total | 1,336 | ||
Duke Energy Carolinas [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 41 | 41 | 39 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 41 | ||
2,017 | 33 | ||
2,018 | 24 | ||
2,019 | 21 | ||
2,020 | 16 | ||
Thereafter | 51 | ||
Total future minimum lease payments | 186 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 6 | ||
2,017 | 6 | ||
2,018 | 6 | ||
2,019 | 6 | ||
2,020 | 5 | ||
Thereafter | 30 | ||
Minimum annual payments | 59 | ||
Less amount representing interest | (35) | ||
Total | 24 | ||
Progress Energy [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 230 | 257 | 225 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 132 | ||
2,017 | 111 | ||
2,018 | 108 | ||
2,019 | 102 | ||
2,020 | 93 | ||
Thereafter | 622 | ||
Total future minimum lease payments | 1,168 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 46 | ||
2,017 | 46 | ||
2,018 | 46 | ||
2,019 | 45 | ||
2,020 | 46 | ||
Thereafter | 367 | ||
Minimum annual payments | 596 | ||
Less amount representing interest | (295) | ||
Total | 301 | ||
Duke Energy Progress [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 149 | 161 | 153 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 66 | ||
2,017 | 63 | ||
2,018 | 61 | ||
2,019 | 56 | ||
2,020 | 48 | ||
Thereafter | 365 | ||
Total future minimum lease payments | 659 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 20 | ||
2,017 | 21 | ||
2,018 | 21 | ||
2,019 | 22 | ||
2,020 | 21 | ||
Thereafter | 272 | ||
Minimum annual payments | 377 | ||
Less amount representing interest | (230) | ||
Total | 147 | ||
Duke Energy Florida [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 81 | 96 | 72 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 66 | ||
2,017 | 48 | ||
2,018 | 47 | ||
2,019 | 46 | ||
2,020 | 45 | ||
Thereafter | 257 | ||
Total future minimum lease payments | 509 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 26 | ||
2,017 | 25 | ||
2,018 | 25 | ||
2,019 | 25 | ||
2,020 | 25 | ||
Thereafter | 95 | ||
Minimum annual payments | 221 | ||
Less amount representing interest | (65) | ||
Total | 156 | ||
Duke Energy Ohio [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 13 | 17 | 14 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 13 | ||
2,017 | 9 | ||
2,018 | 6 | ||
2,019 | 4 | ||
2,020 | 3 | ||
Thereafter | 5 | ||
Total future minimum lease payments | 40 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 7 | ||
2,017 | 1 | ||
2,018 | 5 | ||
2,019 | 1 | ||
Thereafter | 1 | ||
Minimum annual payments | 15 | ||
Less amount representing interest | (2) | ||
Total | 13 | ||
Duke Energy Indiana [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 20 | $ 21 | $ 22 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 20 | ||
2,017 | 15 | ||
2,018 | 12 | ||
2,019 | 8 | ||
2,020 | 5 | ||
Thereafter | 8 | ||
Total future minimum lease payments | 68 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2,016 | 3 | ||
2,017 | 1 | ||
2,018 | 2 | ||
2,019 | 1 | ||
2,020 | 1 | ||
Thereafter | 43 | ||
Minimum annual payments | 51 | ||
Less amount representing interest | (38) | ||
Total | $ 13 |
Debt and Credit Facilities (Nar
Debt and Credit Facilities (Narrative) (Details) | Feb. 22, 2016USD ($) | Jun. 30, 2016USD ($) | Feb. 24, 2016USD ($) | Jan. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Debt Instrument [Line Items] | ||||||
Debt issuances | $ 2,700,000,000 | $ 2,922,000,000 | ||||
Other Debt Matters [Abstract] | ||||||
Demand notes, maximum amount available for sale | 3,000,000,000 | |||||
Demand notes, maximum amount outstanding | 1,500,000,000 | |||||
Principal amount of demand notes | 1,121,000,000 | 968,000,000 | ||||
Subsidiary debt guaranteed by parent | 767,000,000 | 767,000,000 | ||||
Other Loans [Abstract] | ||||||
Other loans outstanding against cash surrender value of life insurance policies | $ 629,000,000 | 603,000,000 | ||||
Restrictive Debt Covenants [Abstract] | ||||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||||
Subsequent Event [Member] | Line of Credit [Member] | Term Loan Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument term (in years) | 6 months | |||||
Facility size | $ 1,000,000,000 | |||||
Expiration period (in days following February 22, 2016) | 45 days | |||||
Amount outstanding at period end | $ 0 | |||||
Duke Energy Carolinas [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt issuances | $ 500,000,000 | |||||
Restrictive Debt Covenants [Abstract] | ||||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||||
Progress Energy [Member] | ||||||
Restrictive Debt Covenants [Abstract] | ||||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||||
Duke Energy Progress [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt issuances | $ 1,200,000,000 | 1,350,000,000 | ||||
Other Loans [Abstract] | ||||||
Other loans outstanding against cash surrender value of life insurance policies | $ 41,000,000 | 44,000,000 | ||||
Restrictive Debt Covenants [Abstract] | ||||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||||
Duke Energy Florida [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt issuances | $ 225,000,000 | |||||
Restrictive Debt Covenants [Abstract] | ||||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||||
Duke Energy Ohio [Member] | ||||||
Restrictive Debt Covenants [Abstract] | ||||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||||
Duke Energy Indiana [Member] | ||||||
Restrictive Debt Covenants [Abstract] | ||||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||||
Duke Energy Kentucky [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt issuances | $ 95,000,000 | |||||
Duke Energy Kentucky [Member] | Subsequent Event [Member] | Unsecured Debt [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt issuances | $ 95,000,000 | |||||
Duke Energy Kentucky [Member] | Subsequent Event [Member] | 3.42% Unsecured Debenture Maturing January 2026 [Member] | Unsecured Debt [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 3.42% | |||||
Debt issuances | $ 45,000,000 | |||||
Duke Energy Kentucky [Member] | Subsequent Event [Member] | 4.45% Unsecured Debenture Maturing January 2046 [Member] | Unsecured Debt [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate | 4.45% | |||||
Debt issuances | $ 50,000,000 | |||||
Florida Public Service Commission [Member] | Nuclear Asset Securitizable Balance, Net [Member] | Crystal River Unit 3 [Member] | Florida Public Service Commission Settlement Agreement 2013 [Member] | Duke Energy Florida [Member] | Corporate Debt Securities [Member] | Scenario, Forecast [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt issuances | $ 1,300,000,000 | |||||
Piedmont Natural Gas [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Facility size | $ 4,900,000,000 |
Debt and Credit Facilities (Sum
Debt and Credit Facilities (Summary of Debt and Related Terms) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Unsecured Debt | $ 13,392 | $ 12,937 |
Secured Debt | 2,635 | 2,806 |
First mortgage bonds | 18,980 | 19,180 |
Capital leases | 1,336 | 1,428 |
Tax exempt bonds | 1,053 | 1,296 |
Notes payable and commercial paper | 4,258 | 2,989 |
Fair value hedge carrying value adjustment | 6 | 8 |
Unamortized debt discount and premium, net | 1,712 | 1,890 |
Unamortized debt issuance costs | (43) | (19) |
Total debt | 43,202 | 42,382 |
Short-term notes payable and commercial paper | (3,633) | (2,514) |
Current maturities of long-term debt | (2,074) | (2,807) |
Total long-term debt | 37,495 | 37,061 |
Short term obligations classified as long-term debt | $ 972 | $ 1,022 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date Range, Start | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument, Maturity Date Range, End | Dec. 31, 2073 | Dec. 31, 2073 |
Weighted-average rate | 4.99% | 4.92% |
Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date Range, Start | Dec. 31, 2016 | Dec. 31, 2016 |
Debt Instrument, Maturity Date Range, End | Dec. 31, 2037 | Dec. 31, 2037 |
Weighted-average rate | 2.57% | 2.50% |
Short term obligations classified as long-term debt | $ 200 | |
First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date Range, Start | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument, Maturity Date Range, End | Dec. 31, 2045 | Dec. 31, 2044 |
Weighted-average rate | 4.74% | 4.76% |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date Range, Start | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument, Maturity Date Range, End | Dec. 31, 2051 | Dec. 31, 2051 |
Weighted-average rate | 5.38% | 5.30% |
Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date Range, Start | Dec. 31, 2017 | Dec. 31, 2015 |
Debt Instrument, Maturity Date Range, End | Dec. 31, 2041 | Dec. 31, 2041 |
Weighted-average rate | 2.59% | 2.13% |
Short term obligations classified as long-term debt | $ 347 | $ 347 |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 625 | 475 |
Purchase Accounting Adjustments [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt discount and premium, net | $ 1,798 | $ 1,975 |
Notes Payable And Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 0.88% | 0.70% |
Short term obligations classified as long-term debt | $ 625 | $ 475 |
TotalDebtAndCapitalLeaseObligations [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | $ (170) | $ (152) |
Weighted-average rate | 4.25% | 4.29% |
Parent Company [Member] | Purchase Accounting Adjustments [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | $ 59 | |
Duke Energy Carolinas [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 1,152 | $ 1,155 |
Secured Debt | 425 | 400 |
First mortgage bonds | 6,161 | 6,161 |
Capital leases | 24 | 27 |
Tax exempt bonds | 355 | 355 |
Money pool borrowings | 300 | 300 |
Fair value hedge carrying value adjustment | 6 | 8 |
Unamortized debt discount and premium, net | (17) | (15) |
Unamortized debt issuance costs | (4) | (4) |
Total debt | 8,367 | 8,353 |
Current maturities of long-term debt | (356) | (507) |
Total long-term debt | 8,011 | 7,846 |
Short term obligations classified as long-term debt | 335 | 335 |
Duke Energy Carolinas [Member] | Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 35 | 35 |
Duke Energy Carolinas [Member] | Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 300 | 300 |
Duke Energy Carolinas [Member] | TotalDebtAndCapitalLeaseObligations [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | (39) | (38) |
Progress Energy [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 3,850 | 3,850 |
Secured Debt | 479 | 525 |
First mortgage bonds | 9,750 | 9,800 |
Capital leases | 300 | 314 |
Tax exempt bonds | 48 | 291 |
Money pool borrowings | 1,458 | 835 |
Unamortized debt discount and premium, net | (28) | (26) |
Unamortized debt issuance costs | (5) | (5) |
Total debt | 15,772 | 15,503 |
Short-term money pool borrowings | (1,308) | (835) |
Current maturities of long-term debt | (315) | (1,507) |
Total long-term debt | 14,149 | 13,161 |
Progress Energy [Member] | TotalDebtAndCapitalLeaseObligations [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | (85) | (86) |
Duke Energy Progress [Member] | ||
Debt Instrument [Line Items] | ||
Secured Debt | 254 | 300 |
First mortgage bonds | 5,975 | 5,475 |
Capital leases | 144 | 146 |
Tax exempt bonds | 48 | 291 |
Money pool borrowings | 359 | |
Unamortized debt discount and premium, net | (16) | (11) |
Unamortized debt issuance costs | (3) | (3) |
Total debt | 6,727 | 6,170 |
Short-term money pool borrowings | (209) | |
Current maturities of long-term debt | (2) | (945) |
Total long-term debt | 6,516 | 5,225 |
Short term obligations classified as long-term debt | 150 | |
Duke Energy Progress [Member] | Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 150 | |
Duke Energy Progress [Member] | Purchase Accounting Adjustments [Member] | ||
Debt Instrument [Line Items] | ||
Capital leases | 114 | 129 |
Duke Energy Progress [Member] | TotalDebtAndCapitalLeaseObligations [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | (37) | (31) |
Duke Energy Florida [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 150 | 150 |
Secured Debt | 225 | 225 |
First mortgage bonds | 3,775 | 4,325 |
Capital leases | 156 | 168 |
Money pool borrowings | 813 | 84 |
Unamortized debt discount and premium, net | (8) | (8) |
Unamortized debt issuance costs | (2) | (2) |
Total debt | 5,079 | 4,907 |
Short-term money pool borrowings | (813) | (84) |
Current maturities of long-term debt | (13) | (562) |
Total long-term debt | 4,253 | 4,261 |
Duke Energy Florida [Member] | Purchase Accounting Adjustments [Member] | ||
Debt Instrument [Line Items] | ||
Capital leases | 731 | 787 |
Duke Energy Florida [Member] | TotalDebtAndCapitalLeaseObligations [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | (32) | (37) |
Duke Energy Ohio [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 765 | 773 |
First mortgage bonds | 750 | 900 |
Capital leases | 13 | 20 |
Tax exempt bonds | 77 | 77 |
Money pool borrowings | 128 | 516 |
Unamortized debt discount and premium, net | (28) | (29) |
Unamortized debt issuance costs | (2) | (2) |
Total debt | 1,701 | 2,251 |
Short-term money pool borrowings | (103) | (491) |
Current maturities of long-term debt | (106) | (157) |
Total long-term debt | 1,492 | 1,603 |
Short term obligations classified as long-term debt | 52 | 52 |
Duke Energy Ohio [Member] | Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 27 | 27 |
Duke Energy Ohio [Member] | Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 25 | 25 |
Duke Energy Ohio [Member] | TotalDebtAndCapitalLeaseObligations [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | (4) | (6) |
Duke Energy Indiana [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 740 | 742 |
First mortgage bonds | 2,319 | 2,319 |
Capital leases | 14 | 16 |
Tax exempt bonds | 572 | 573 |
Money pool borrowings | 150 | 221 |
Unamortized debt discount and premium, net | (8) | (9) |
Unamortized debt issuance costs | (2) | (2) |
Total debt | 3,768 | 3,840 |
Short-term money pool borrowings | (71) | |
Current maturities of long-term debt | (547) | (5) |
Total long-term debt | 3,221 | 3,764 |
Short term obligations classified as long-term debt | 435 | 435 |
Duke Energy Indiana [Member] | Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 285 | 285 |
Duke Energy Indiana [Member] | Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 150 | 150 |
Duke Energy Indiana [Member] | TotalDebtAndCapitalLeaseObligations [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | $ (19) | $ (22) |
Debt and Credit Facilities (S87
Debt and Credit Facilities (Summary of Debt Issuances) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Debt issuances | $ 2,700 | $ 2,922 |
November 2015 3.750% Senior Unsecured Notes Maturing April 2024 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 400 | |
Interest rate | 3.75% | |
Repayments of Debt | $ 300 | |
November 2015 4.800% Senior Unsecured Notes Maturing December 2045 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 600 | |
Interest rate | 4.80% | |
Repayments of Debt | $ 300 | |
March 2015 3.750% First Mortgage Bonds Maturing June 2045 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 500 | |
Interest rate | 3.75% | |
Repayments of Debt | $ 500 | |
August 2015 3.250% First Mortgage bonds Maturing August 2025 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 500 | |
Interest rate | 3.25% | |
Repayments of Debt | $ 400 | |
August 2015 4.200% First Mortgage Bonds Maturing August 2045 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 700 | |
Interest rate | 4.20% | |
Repayments of Debt | $ 400 | |
April 2014 3.75% Senior Unsecured Notes Maturing April 2024 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 600 | |
Interest rate | 3.75% | |
Repayments of Debt | $ 402 | |
April 2014 0.613% Senior Unsecured Floating Notes Maturing April 2017 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 400 | |
Interest rate | 0.613% | |
Fixed credit spread | 0.38% | |
Repayments of Debt | $ 402 | |
June 2014 11.970% Senior Unsecured Floating Notes Maturing May 2019 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 108 | |
Interest rate | 11.97% | |
Repayments of Debt | $ 196 | |
June 2014 13.680% Senior Unsecured Floating Notes Maturing May 2021 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 110 | |
Interest rate | 13.68% | |
Repayments of Debt | $ 196 | |
March 2014 0.863% Secured Credit Facility Maturing March 2017 [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 225 | |
Interest rate | 0.863% | |
July 2014 5.340% Secured Debt Maturing July 2036 [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 129 | |
Interest rate | 5.34% | |
March 2014 4.375% First Mortgage Bonds Maturing March 2044 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 400 | |
Interest rate | 4.375% | |
March 2014 0.435% First Mortgage Bonds Maturing March 2017[Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 250 | |
Interest rate | 0.435% | |
Fixed credit spread | 0.20% | |
November 2014 4.150% Fixed First Mortgage Bonds Maturing December 2044 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 500 | |
Interest rate | 4.15% | |
Repayments of Debt | $ 450 | |
November 2014 0.432% Floating First Mortgage Bonds Maturing November 2017 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 200 | |
Interest rate | 0.432% | |
Fixed credit spread | 0.20% | |
Repayments of Debt | $ 450 | |
Parent Company [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 1,000 | 1,000 |
Parent Company [Member] | November 2015 3.750% Senior Unsecured Notes Maturing April 2024 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 400 | |
Repayments of Debt | 300 | |
Parent Company [Member] | November 2015 4.800% Senior Unsecured Notes Maturing December 2045 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 600 | |
Repayments of Debt | 300 | |
Parent Company [Member] | April 2014 3.75% Senior Unsecured Notes Maturing April 2024 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 600 | |
Repayments of Debt | 402 | |
Parent Company [Member] | April 2014 0.613% Senior Unsecured Floating Notes Maturing April 2017 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 400 | |
Fixed credit spread | 0.38% | |
Repayments of Debt | $ 402 | |
Duke Energy Carolinas [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 500 | |
Duke Energy Carolinas [Member] | March 2015 3.750% First Mortgage Bonds Maturing June 2045 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 500 | |
Repayments of Debt | 500 | |
Duke Energy Progress [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 1,200 | 1,350 |
Duke Energy Progress [Member] | August 2015 3.250% First Mortgage bonds Maturing August 2025 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 500 | |
Repayments of Debt | 400 | |
Duke Energy Progress [Member] | August 2015 4.200% First Mortgage Bonds Maturing August 2045 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 700 | |
Repayments of Debt | $ 400 | |
Duke Energy Progress [Member] | March 2014 4.375% First Mortgage Bonds Maturing March 2044 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 400 | |
Duke Energy Progress [Member] | March 2014 0.435% First Mortgage Bonds Maturing March 2017[Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 250 | |
Fixed credit spread | 0.20% | |
Duke Energy Progress [Member] | November 2014 4.150% Fixed First Mortgage Bonds Maturing December 2044 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 500 | |
Repayments of Debt | 450 | |
Duke Energy Progress [Member] | November 2014 0.432% Floating First Mortgage Bonds Maturing November 2017 [Member] | First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 200 | |
Fixed credit spread | 0.20% | |
Repayments of Debt | $ 450 | |
Duke Energy Florida [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | 225 | |
Duke Energy Florida [Member] | March 2014 0.863% Secured Credit Facility Maturing March 2017 [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 225 |
Debt and Credit Facilities (Ann
Debt and Credit Facilities (Annual Maturities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | $ 2,074 | $ 2,807 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,016 | 2,074 | |
2,017 | 2,468 | |
2,018 | 3,441 | |
2,019 | 3,022 | |
2,020 | 2,091 | |
Thereafter | 24,616 | |
Total long-term debt, including current maturities | 37,712 | |
Other Debt Obligations [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 449 | |
Purchase Accounting Adjustments [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Purchase accounting adjustments | $ (1,857) | |
Parent Company [Member] | 2.150% November 2016 Debt Maturity [Member] | Unsecured Debt [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 2.15% | |
Current maturities of long-term debt | $ 500 | |
Duke Energy Carolinas [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 356 | 507 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,016 | 356 | |
2,017 | 115 | |
2,018 | 1,629 | |
2,019 | 5 | |
2,020 | 755 | |
Thereafter | 5,507 | |
Total long-term debt, including current maturities | $ 8,367 | |
Duke Energy Carolinas [Member] | 1.750% December 2016 Debt Maturity 1 [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 1.75% | |
Current maturities of long-term debt | $ 350 | |
Progress Energy [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 315 | 1,507 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,016 | 315 | |
2,017 | 923 | |
2,018 | 510 | |
2,019 | 1,667 | |
2,020 | 415 | |
Thereafter | 10,634 | |
Total long-term debt, including current maturities | 14,464 | |
Duke Energy Progress [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 2 | 945 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,016 | 2 | |
2,017 | 446 | |
2,019 | 855 | |
2,020 | 152 | |
Thereafter | 5,063 | |
Total long-term debt, including current maturities | 6,518 | |
Duke Energy Florida [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 13 | 562 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,016 | 13 | |
2,017 | 482 | |
2,018 | 512 | |
2,019 | 14 | |
2,020 | 265 | |
Thereafter | 2,980 | |
Total long-term debt, including current maturities | 4,266 | |
Duke Energy Ohio [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 106 | 157 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,016 | 106 | |
2,017 | 1 | |
2,018 | 5 | |
2,019 | 552 | |
2,020 | 25 | |
Thereafter | 909 | |
Total long-term debt, including current maturities | 1,598 | |
Duke Energy Indiana [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 547 | $ 5 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,016 | 547 | |
2,017 | 2 | |
2,018 | 3 | |
2,019 | 63 | |
2,020 | 653 | |
Thereafter | 2,500 | |
Total long-term debt, including current maturities | $ 3,768 | |
Duke Energy Indiana [Member] | 6.05% June 2016 Debt Maturity [Member] | Unsecured Debt [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 6.05% | |
Current maturities of long-term debt | $ 325 | |
Duke Energy Indiana [Member] | 0.670% July 2016 Debt Maturity [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 0.67% | |
Current maturities of long-term debt | $ 150 | |
Progress Energy Parent [Member] | 5.625% January 2016 Debt Maturity [Member] | Unsecured Debt [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 5.625% | |
Current maturities of long-term debt | $ 300 |
Debt and Credit Facilities (Sch
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | $ (1,053) | $ (1,296) |
Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 7,500 | |
Commercial Paper | (3,138) | |
Outstanding letters of credit | (72) | |
Tax exempt bonds | (116) | |
Coal ash set-aside | (500) | |
Available capacity | 3,674 | |
Parent Company [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 3,475 | |
Commercial Paper | (1,531) | |
Outstanding letters of credit | (65) | |
Available capacity | 1,879 | |
Parent Company [Member] | Proceeds Loaned To Subsidiary Registrants [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Commercial Paper | 625 | |
Duke Energy Carolinas [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | (355) | (355) |
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||
Line of Credit Facility [Line Items] | ||
Minimum Master Credit Facility Balance required | 250 | |
Duke Energy Carolinas [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 800 | |
Commercial Paper | (300) | |
Outstanding letters of credit | (4) | |
Tax exempt bonds | (35) | |
Coal ash set-aside | (250) | |
Available capacity | 211 | |
Duke Energy Carolinas [Member] | Revolving Credit Facility [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||
Line of Credit Facility [Line Items] | ||
Minimum Master Credit Facility Balance required | 250 | |
Duke Energy Progress [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | (48) | (291) |
Duke Energy Progress [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||
Line of Credit Facility [Line Items] | ||
Minimum Master Credit Facility Balance required | 250 | |
Duke Energy Progress [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 1,000 | |
Commercial Paper | (333) | |
Outstanding letters of credit | (2) | |
Coal ash set-aside | (250) | |
Available capacity | 415 | |
Duke Energy Progress [Member] | Revolving Credit Facility [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||
Line of Credit Facility [Line Items] | ||
Minimum Master Credit Facility Balance required | 250 | |
Duke Energy Florida [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 1,200 | |
Commercial Paper | (709) | |
Outstanding letters of credit | (1) | |
Available capacity | 490 | |
Duke Energy Ohio [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | (77) | (77) |
Duke Energy Ohio [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 425 | |
Commercial Paper | (115) | |
Available capacity | 310 | |
Duke Energy Indiana [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | (572) | $ (573) |
Duke Energy Indiana [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 600 | |
Commercial Paper | (150) | |
Tax exempt bonds | (81) | |
Available capacity | $ 369 |
Guarantees and Indemnificatio90
Guarantees and Indemnifications(Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Liabilities Recorded for Third Party Guarantees [Abstract] | ||
Face value of guarantees | $ 21 | $ 28 |
Surety Bond [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 47 | |
Standby Letters Of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 427 | |
Unused letters of credit | 58 | |
Performance Guarantee [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 253 | |
Maximum potential of future amounts associated with guarantees with expiration dates | 112 | |
Performance Guarantee [Member] | Less Than Wholly Owned Entity [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 15 | |
Spectra Capital [Member] | Performance Guarantee [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 205 | |
Progress Energy [Member] | ||
Liabilities Recorded for Third Party Guarantees [Abstract] | ||
Face value of guarantees | 7 | 13 |
Progress Energy [Member] | Indemnification Agreement [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 97 | |
Maximum potential amount of future payments associated with guarantees with no expiration date | 7 | |
Duke Energy Florida [Member] | ||
Liabilities Recorded for Third Party Guarantees [Abstract] | ||
Face value of guarantees | $ 7 | $ 7 |
Joint Ownership of Generating91
Joint Ownership of Generating and Transmission Facilities Joint Ownership of Generating and Transmission Facilities (Table) (Details) $ in Millions | Dec. 31, 2015USD ($) |
International Energy Brazil-Canoas I and II [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 47.20% |
Property, plant, and equipment | $ 160 |
Accumulated depreciation | $ 57 |
Duke Energy Carolinas [Member] | Duke Energy Carolinas Catawba Nuclear Station (Units 1 and 2) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 19.25% |
Property, plant, and equipment | $ 926 |
Accumulated depreciation | 567 |
Construction work in progress | $ 9 |
Duke Energy Florida [Member] | Duke Energy Florida Intercession City Station (Unit P11) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 66.67% |
Property, plant, and equipment | $ 24 |
Accumulated depreciation | 15 |
Duke Energy Ohio [Member] | Duke Energy Ohio Transmission [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Property, plant, and equipment | 85 |
Accumulated depreciation | 50 |
Construction work in progress | $ 1 |
Duke Energy Indiana [Member] | Duke Energy Indiana Gibson Station (Unit 5) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 50.05% |
Property, plant, and equipment | $ 329 |
Accumulated depreciation | 151 |
Construction work in progress | $ 5 |
Duke Energy Indiana [Member] | Vermillion Generation Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 62.50% |
Property, plant, and equipment | $ 153 |
Accumulated depreciation | 108 |
Construction work in progress | 0 |
Duke Energy Indiana [Member] | Duke Energy Indiana Transmission and local facilities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Property, plant, and equipment | 4,094 |
Accumulated depreciation | $ 1,688 |
Joint Ownership of Generating92
Joint Ownership of Generating and Transmission Facilities Joint Ownership of Generating and Transmission Facilities (Narrative) (Details) - Crystal River Nuclear Station (Unit 3) [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Seminole Electric Cooperative [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant, Proportionate Ownership Share | 1.70% |
Florida Municipal Joint Owners [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant, Proportionate Ownership Share | 6.52% |
Joint Owner Settlement | $ 55 |
Duke Energy Florida [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant, Proportionate Ownership Share | 98.30% |
Asset Retirement Obligations As
Asset Retirement Obligations Asset Retirement Obligations (Recorded on the Balance Sheet) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | $ 10,264 | $ 8,466 | $ 4,958 |
Decommissioning of Nuclear Power Facilities [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 5,072 | ||
Closure of Ash Basins [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 4,958 | ||
Other [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 234 | ||
Duke Energy Carolinas [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 3,918 | 3,428 | 1,594 |
Duke Energy Carolinas [Member] | Decommissioning of Nuclear Power Facilities [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 1,730 | ||
Duke Energy Carolinas [Member] | Closure of Ash Basins [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 2,161 | ||
Duke Energy Carolinas [Member] | Other [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 27 | ||
Progress Energy [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 5,369 | 4,711 | 2,570 |
Progress Energy [Member] | Decommissioning of Nuclear Power Facilities [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 3,093 | ||
Progress Energy [Member] | Closure of Ash Basins [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 2,196 | ||
Progress Energy [Member] | Other [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 80 | ||
Duke Energy Progress [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 4,567 | 3,905 | 1,737 |
Duke Energy Progress [Member] | Decommissioning of Nuclear Power Facilities [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 2,349 | ||
Duke Energy Progress [Member] | Closure of Ash Basins [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 2,188 | ||
Duke Energy Progress [Member] | Other [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 30 | ||
Duke Energy Florida [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 802 | 806 | 833 |
Duke Energy Florida [Member] | Decommissioning of Nuclear Power Facilities [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 744 | ||
Duke Energy Florida [Member] | Closure of Ash Basins [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 7 | ||
Duke Energy Florida [Member] | Other [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 51 | ||
Duke Energy Ohio [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 125 | 27 | 28 |
Duke Energy Ohio [Member] | Closure of Ash Basins [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 94 | ||
Duke Energy Ohio [Member] | Other [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 31 | ||
Duke Energy Indiana [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 525 | $ 32 | $ 30 |
Duke Energy Indiana [Member] | Closure of Ash Basins [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | 507 | ||
Duke Energy Indiana [Member] | Other [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Asset Retirement Obligation | $ 18 |
Asset Retirement Obligations (N
Asset Retirement Obligations (NDTF Information)(Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
NDTF Information [Abstract] | ||
Decommissioning contribution requirement | $ 14 | |
Decommissioning cost study estimate | 8,130 | |
Legally restricted NDTF investments, fair value | 4,670 | $ 5,182 |
Duke Energy Carolinas [Member] | ||
NDTF Information [Abstract] | ||
Legally restricted NDTF investments, fair value | 2,686 | 2,678 |
Duke Energy Carolinas [Member] | 2013 Cost Study [Member] | ||
NDTF Information [Abstract] | ||
Decommissioning cost study estimate | 3,420 | |
Duke Energy Progress [Member] | ||
NDTF Information [Abstract] | ||
Legally restricted NDTF investments, fair value | 1,984 | 1,701 |
Duke Energy Progress [Member] | 2014 Cost Study [Member] | ||
NDTF Information [Abstract] | ||
Decommissioning contribution requirement | 14 | |
Decommissioning cost study estimate | 3,550 | |
Duke Energy Florida [Member] | ||
NDTF Information [Abstract] | ||
Legally restricted NDTF investments, fair value | $ 803 | |
Duke Energy Florida [Member] | 2013 Cost Study [Member] | ||
NDTF Information [Abstract] | ||
Decommissioning cost study estimate | $ 1,160 |
Asset Retirement Obligations 95
Asset Retirement Obligations (Nuclear Operating Licenses)(Details) | 12 Months Ended |
Dec. 31, 2015 | |
Duke Energy Carolinas [Member] | Catawba Units 1 and 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,043 |
Duke Energy Carolinas [Member] | McGuire Unit 1 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,041 |
Duke Energy Carolinas [Member] | McGuire Unit 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,043 |
Duke Energy Carolinas [Member] | Oconee Units 1 and 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,033 |
Duke Energy Carolinas [Member] | Oconee Unit 3 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,034 |
Duke Energy Progress [Member] | Brunswick Unit 1 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,036 |
Duke Energy Progress [Member] | Brunswick Unit 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,034 |
Duke Energy Progress [Member] | Shearon Harris Nuclear Station [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,046 |
Duke Energy Progress [Member] | Robinson Nuclear Station [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2,030 |
Asset Retirement Obligations (R
Asset Retirement Obligations (Rollforward)(Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Asset Retirement Obligation [Line Items] | ||
Balance as of January 1 | $ 8,466 | $ 4,958 |
Acquisitions | 226 | 4 |
Accretion expense | 384 | 246 |
Liabilities settled | (422) | (68) |
Liabilities incurred in the current year | 1,016 | 3,500 |
Revisions in estimates of cash flows | 594 | (174) |
Balance as of December 31 | 10,264 | 8,466 |
Duke Energy Carolinas [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Balance as of January 1 | 3,428 | 1,594 |
Accretion expense | 165 | 113 |
Liabilities settled | (200) | |
Liabilities incurred in the current year | 178 | 1,717 |
Revisions in estimates of cash flows | 347 | 4 |
Balance as of December 31 | 3,918 | 3,428 |
Progress Energy [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Balance as of January 1 | 4,711 | 2,570 |
Acquisitions | 226 | |
Accretion expense | 203 | 135 |
Liabilities settled | (195) | (68) |
Liabilities incurred in the current year | 282 | 1,783 |
Revisions in estimates of cash flows | 142 | 291 |
Balance as of December 31 | 5,369 | 4,711 |
Duke Energy Progress [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Balance as of January 1 | 3,905 | 1,737 |
Acquisitions | 204 | |
Accretion expense | 169 | 97 |
Liabilities settled | (125) | |
Liabilities incurred in the current year | 282 | 1,783 |
Revisions in estimates of cash flows | 132 | 288 |
Balance as of December 31 | 4,567 | 3,905 |
Duke Energy Florida [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Balance as of January 1 | 806 | 833 |
Acquisitions | 23 | |
Accretion expense | 34 | 38 |
Liabilities settled | (70) | (68) |
Revisions in estimates of cash flows | 9 | 3 |
Balance as of December 31 | 802 | 806 |
Duke Energy Ohio [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Balance as of January 1 | 27 | 28 |
Accretion expense | 4 | 2 |
Liabilities settled | (4) | |
Liabilities incurred in the current year | 116 | |
Revisions in estimates of cash flows | (18) | (3) |
Balance as of December 31 | 125 | 27 |
Duke Energy Indiana [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Balance as of January 1 | 32 | 30 |
Accretion expense | 15 | 2 |
Liabilities settled | (23) | |
Liabilities incurred in the current year | 418 | |
Revisions in estimates of cash flows | 83 | |
Balance as of December 31 | $ 525 | $ 32 |
Property, Plant and Equipment97
Property, Plant and Equipment (Schedule Of Property, Plant and Equipment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | $ 1,466 | $ 1,459 | |
Nuclear fuel | 3,194 | 2,865 | |
Equipment | 1,791 | 1,762 | |
Construction in process | 4,525 | 4,519 | |
Other | 4,744 | 3,497 | |
Total property, plant and equipment | 112,826 | 104,861 | |
Total accumulated depreciation | (37,665) | (34,824) | |
Generation Facilities To Be Retired Net | 548 | 9 | |
Total net property, plant and equipment | 75,709 | 70,046 | |
Capitalized leases | 1,470 | 1,548 | |
Accumulated amortization on capitalized leases | 58 | 52 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 98 | 75 | $ 89 |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | $ (37,665) | $ (34,824) | |
Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Equipment, estimated useful life, years | 3 years | 3 years | |
Other, estimated useful life, in years | 2 years | 5 years | |
Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Equipment, estimated useful life, years | 38 years | 34 years | |
Other, estimated useful life, in years | 60 years | 80 years | |
Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | $ (1,621) | $ (1,408) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (1,621) | (1,408) | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total property, plant and equipment | 2,033 | 1,873 | |
Total accumulated depreciation | (327) | (257) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (327) | (257) | |
Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (35,367) | (32,628) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (35,367) | (32,628) | |
Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 87,593 | $ 82,206 | |
Regulated Operation [Member] | Electric [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 8 years | 2 years | |
Regulated Operation [Member] | Electric [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 100 years | 138 years | |
Regulated Operation [Member] | Natural Gas [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 2,322 | $ 2,230 | |
Regulated Operation [Member] | Natural Gas [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 12 years | 12 years | |
Regulated Operation [Member] | Natural Gas [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 67 years | 67 years | |
Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 1,480 | $ 1,445 | |
Regulated Operation [Member] | Other Buildings And Improvements [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 15 years | 9 years | |
Regulated Operation [Member] | Other Buildings And Improvements [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 100 years | 100 years | |
Nonregulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | $ (2,298) | $ (2,196) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (2,298) | (2,196) | |
Nonregulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 3,348 | $ 2,380 | |
Nonregulated Operation [Member] | Electric [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 1 year | 1 year | |
Nonregulated Operation [Member] | Electric [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 30 years | 30 years | |
Nonregulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 2,363 | $ 2,498 | |
Nonregulated Operation [Member] | Other Buildings And Improvements [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 5 years | 5 years | |
Nonregulated Operation [Member] | Other Buildings And Improvements [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 50 years | 50 years | |
Duke Energy Carolinas [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | $ 407 | $ 403 | |
Nuclear fuel | 1,827 | 1,676 | |
Equipment | 368 | 341 | |
Construction in process | 1,860 | 2,081 | |
Other | 836 | 655 | |
Total property, plant and equipment | 39,398 | 37,372 | |
Total accumulated depreciation | (13,521) | (12,700) | |
Total net property, plant and equipment | 25,877 | 24,672 | |
Capitalized leases | 40 | 40 | |
Accumulated amortization on capitalized leases | 11 | 8 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 38 | 38 | 41 |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (13,521) | (12,700) | |
Duke Energy Carolinas [Member] | Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (976) | (847) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (976) | (847) | |
Duke Energy Carolinas [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (13,521) | (12,700) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (13,521) | (12,700) | |
Duke Energy Carolinas [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 33,623 | 31,751 | |
Duke Energy Carolinas [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 477 | 465 | |
Progress Energy [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 719 | 704 | |
Nuclear fuel | 1,367 | 1,190 | |
Equipment | 530 | 506 | |
Construction in process | 1,827 | 1,215 | |
Other | 1,180 | 756 | |
Total property, plant and equipment | 42,666 | 38,650 | |
Total accumulated depreciation | (14,867) | (13,506) | |
Generation Facilities To Be Retired Net | 548 | ||
Total net property, plant and equipment | 28,347 | 25,144 | |
Capitalized leases | 302 | 315 | |
Accumulated amortization on capitalized leases | 85 | 72 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 24 | 11 | 19 |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (14,867) | (13,506) | |
Progress Energy [Member] | Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (645) | (561) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (645) | (561) | |
Progress Energy [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (14,867) | (13,506) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (14,867) | (13,506) | |
Progress Energy [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 36,422 | 33,672 | |
Progress Energy [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 621 | 607 | |
Duke Energy Progress [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 392 | 380 | |
Nuclear fuel | 1,367 | 1,190 | |
Equipment | 398 | 388 | |
Construction in process | 1,118 | 908 | |
Other | 856 | 439 | |
Total property, plant and equipment | 27,313 | 24,207 | |
Total accumulated depreciation | (10,141) | (9,021) | |
Generation Facilities To Be Retired Net | 548 | ||
Total net property, plant and equipment | 17,720 | 15,186 | |
Capitalized leases | 144 | 146 | |
Accumulated amortization on capitalized leases | 7 | 5 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 20 | 10 | 16 |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (10,141) | (9,021) | |
Duke Energy Progress [Member] | Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (645) | (561) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (645) | (561) | |
Duke Energy Progress [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (10,141) | (9,021) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (10,141) | (9,021) | |
Duke Energy Progress [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 22,888 | 20,616 | |
Duke Energy Progress [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 294 | 286 | |
Duke Energy Florida [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 327 | 324 | |
Equipment | 132 | 118 | |
Construction in process | 709 | 307 | |
Other | 319 | 310 | |
Total property, plant and equipment | 15,343 | 14,433 | |
Total accumulated depreciation | (4,720) | (4,478) | |
Total net property, plant and equipment | 10,623 | 9,955 | |
Capitalized leases | 158 | 169 | |
Accumulated amortization on capitalized leases | 78 | 67 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 4 | 1 | 3 |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (4,720) | (4,478) | |
Duke Energy Florida [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (4,720) | (4,478) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (4,720) | (4,478) | |
Duke Energy Florida [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 13,534 | 13,056 | |
Duke Energy Florida [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 322 | 318 | |
Duke Energy Ohio [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 118 | 114 | |
Equipment | 344 | 330 | |
Construction in process | 180 | 97 | |
Other | 153 | 214 | |
Total property, plant and equipment | 7,750 | 7,141 | |
Total accumulated depreciation | (2,507) | (2,213) | |
Generation Facilities To Be Retired Net | 9 | ||
Total net property, plant and equipment | 5,243 | 4,937 | |
Capitalized leases | 96 | 98 | |
Accumulated amortization on capitalized leases | 27 | 25 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 10 | 10 | 11 |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (2,507) | (2,213) | |
Duke Energy Ohio [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (2,507) | (2,213) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (2,507) | (2,213) | |
Duke Energy Ohio [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 4,429 | 3,956 | |
Duke Energy Ohio [Member] | Regulated Operation [Member] | Natural Gas [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 2,322 | 2,230 | |
Duke Energy Ohio [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 204 | 200 | |
Duke Energy Indiana [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 108 | 108 | |
Equipment | 173 | 166 | |
Construction in process | 214 | 481 | |
Other | 215 | 195 | |
Total property, plant and equipment | 14,007 | 13,034 | |
Total accumulated depreciation | (4,484) | (4,219) | |
Total net property, plant and equipment | 9,523 | 8,815 | |
Capitalized leases | 39 | 30 | |
Accumulated amortization on capitalized leases | 7 | 6 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 6 | 6 | 9 |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (4,484) | (4,219) | |
Duke Energy Indiana [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (4,484) | (4,219) | |
Operating Leases [Abstract] | |||
Accumulated depreciation and amortization | (4,484) | (4,219) | |
Duke Energy Indiana [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 13,118 | 11,911 | |
Duke Energy Indiana [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 179 | 173 | |
Commercial Portfolio [Member] | Assets Leased to Others [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | (258) | ||
Operating Leases [Abstract] | |||
Contingent lease payments | 172 | $ 164 | $ 154 |
Renewable energy projects | 2,455 | ||
Accumulated depreciation and amortization | $ (258) |
Goodwill and Intangible Asset98
Goodwill and Intangible Assets (Goodwill By Reportable Operating Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill [Line Items] | ||
Goodwill | $ 16,343 | $ 16,321 |
Foreign exchange and other changes | (36) | |
Goodwill, Acquired During Period | 58 | |
Regulated Utilities [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 15,950 | 15,950 |
International [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 271 | 307 |
Foreign exchange and other changes | (36) | |
Commercial Portfolio [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 122 | 64 |
Goodwill, Acquired During Period | 58 | |
Progress Energy [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 3,655 | 3,655 |
Duke Energy Ohio [Member] | ||
Goodwill [Line Items] | ||
Accumulated impairment charges | 216 | |
Goodwill | $ 920 | $ 920 |
Goodwill and Intangible Asset99
Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | $ 343 | $ 317 | |
Accumulated amortization | (58) | (54) | |
Total intangible assets, net | 285 | 263 | |
Amortization expense | 4 | 6 | $ 13 |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
2,016 | 8 | ||
2,017 | 8 | ||
2,018 | 8 | ||
2,019 | 7 | ||
2,020 | 7 | ||
Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 20 | 23 | |
Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 116 | 97 | |
Gas Coal And Power Contracts [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 24 | 24 | |
Accumulated amortization | (16) | (15) | |
Wind Development Rights [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 115 | 97 | |
Accumulated amortization | (18) | (14) | |
Other Intangible Assets [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 68 | 76 | |
Accumulated amortization | (24) | (25) | |
Duke Energy Carolinas [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 31 | 26 | |
Total intangible assets, net | 31 | 26 | |
Duke Energy Carolinas [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 1 | 1 | |
Duke Energy Carolinas [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 30 | 25 | |
Progress Energy [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 86 | 76 | |
Total intangible assets, net | 86 | 76 | |
Progress Energy [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 6 | 7 | |
Progress Energy [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 80 | 69 | |
Duke Energy Progress [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 82 | 72 | |
Total intangible assets, net | 82 | 72 | |
Duke Energy Progress [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 2 | 3 | |
Duke Energy Progress [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 80 | 69 | |
Duke Energy Florida [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 4 | 4 | |
Total intangible assets, net | 4 | 4 | |
Duke Energy Florida [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 4 | 4 | |
Duke Energy Ohio [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 5 | 3 | |
Total intangible assets, net | 5 | 3 | |
Amortization expense | 2 | 8 | |
Duke Energy Ohio [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 5 | 3 | |
Duke Energy Indiana [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 38 | 40 | |
Accumulated amortization | (16) | (15) | |
Total intangible assets, net | 22 | 25 | |
Amortization expense | 1 | 1 | $ 1 |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
2,016 | 2 | ||
2,017 | 2 | ||
2,018 | 2 | ||
2,019 | 2 | ||
2,020 | 2 | ||
Duke Energy Indiana [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 14 | 16 | |
Duke Energy Indiana [Member] | Gas Coal And Power Contracts [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 24 | 24 | |
Accumulated amortization | $ (16) | $ (15) |
Investments in Unconsolidate100
Investments in Unconsolidated Affiliates (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jan. 31, 2017 | |
Investments In Unconsolidated Affiliates [Line Items] | ||||
Gain on sale of equity investment | $ 7 | $ 17 | $ 100 | |
Distributions from equity investments | $ 104 | $ 154 | $ 144 | |
National Methanol Company [Member] | International Energy [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 25.00% | |||
Sweetwater I-V [Member] | Commercial Power [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 50.00% | |||
DS Cornerstone [Member] | Commercial Power [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 50.00% | |||
Duke American Transmission Co. [Member] | Commercial Power [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 50.00% | |||
Atlantic Coast Pipeline (ACP) [Member] | Commercial Power [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 40.00% | |||
Sabal Trail Transmission Pipeline [Member] | Commercial Power [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 7.50% | |||
DukeNet [Member] | Other [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 50.00% | |||
Net sales proceeds | $ 215 | |||
Gain on sale of equity investment | $ 105 | |||
Scenario, Forecast [Member] | National Methanol Company [Member] | International Energy [Member] | ||||
Investments In Unconsolidated Affiliates [Line Items] | ||||
Equity method investment, ownership percentage | 17.50% |
Investments in Unconsolidate101
Investments in Unconsolidated Affiliates (Investments in Equity Method Unconsolidated Affiliates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | $ 499 | $ 358 | |
Equity in earnings (losses) of unconsolidated affiliates | 69 | 130 | $ 122 |
Regulated Utilities [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 2 | 3 | |
Equity in earnings (losses) of unconsolidated affiliates | (4) | (3) | (1) |
International Energy [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 39 | 69 | |
Equity in earnings (losses) of unconsolidated affiliates | 74 | 120 | 110 |
Commercial Power [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 433 | 258 | |
Equity in earnings (losses) of unconsolidated affiliates | (3) | 10 | 7 |
Other [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 25 | 28 | |
Equity in earnings (losses) of unconsolidated affiliates | $ 2 | $ 3 | $ 6 |
Related Party Transactions (Oth
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Duke Energy Carolinas [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | $ 914 | $ 851 | $ 927 |
Duke Energy Carolinas [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 24 | 21 | 22 |
Duke Energy Carolinas [Member] | Joint Dispatch Agreement (JDA) [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 51 | 133 | 121 |
Related party transaction, expenses from transactions with related party | 183 | 198 | 116 |
Progress Energy [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 96 | ||
Related party transaction, expenses from transactions with related party | 712 | 732 | 290 |
Progress Energy [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 38 | 33 | 34 |
Progress Energy [Member] | Joint Dispatch Agreement (JDA) [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 183 | 198 | 116 |
Related party transaction, expenses from transactions with related party | 51 | 133 | 121 |
Duke Energy Progress [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 403 | 386 | 266 |
Duke Energy Progress [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 16 | 17 | 20 |
Duke Energy Progress [Member] | Joint Dispatch Agreement (JDA) [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 183 | 198 | 116 |
Related party transaction, expenses from transactions with related party | 51 | 133 | 121 |
Duke Energy Florida [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 309 | 346 | 182 |
Duke Energy Florida [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 22 | 16 | 14 |
Duke Energy Ohio [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 342 | 316 | 347 |
Duke Energy Ohio [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 6 | 13 | 15 |
Duke Energy Indiana [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 349 | 384 | 422 |
Duke Energy Indiana [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | $ 9 | $ 11 | $ 14 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - Duke Energy Ohio [Member] - USD ($) $ in Millions | Dec. 31, 2015 | Apr. 01, 2015 | Dec. 31, 2014 |
Related Party Transaction [Line Items] | |||
Intercompany loan payable | $ 103 | $ 491 | |
DECAM [Member] | |||
Related Party Transaction [Line Items] | |||
Intercompany loan payable | $ 294 | $ 459 |
Related Party Transactions Inte
Related Party Transactions Intercompany Income Taxes (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Duke Energy Carolinas [Member] | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | $ 107 | $ 75 |
Due to Related Parties, Current | 229 | 154 |
Duke Energy Carolinas [Member] | Income Taxes | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 122 | 43 |
Progress Energy [Member] | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 375 | 59 |
Due to Related Parties, Current | 311 | 203 |
Progress Energy [Member] | Income Taxes | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 120 | 713 |
Duke Energy Progress [Member] | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 16 | 10 |
Due to Related Parties, Current | 190 | 120 |
Duke Energy Progress [Member] | Income Taxes | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 104 | 267 |
Duke Energy Florida [Member] | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 84 | 40 |
Due to Related Parties, Current | 116 | 70 |
Duke Energy Florida [Member] | Income Taxes | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 174 | |
Due to Related Parties, Current | 96 | |
Duke Energy Ohio [Member] | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 84 | 107 |
Due to Related Parties, Current | 53 | 74 |
Duke Energy Ohio [Member] | Income Taxes | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 54 | 39 |
Duke Energy Indiana [Member] | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | 71 | 115 |
Due to Related Parties, Current | 83 | 58 |
Duke Energy Indiana [Member] | Income Taxes | ||
Income Tax Disclosure [Line Items] | ||
Due from Related Parties, Current | $ 95 | |
Due to Related Parties, Current | $ 47 |
Derivatives and Hedging (Notion
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details) Bcf in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2015USD ($)GWhBcf | Dec. 31, 2014USD ($)GWhBcf | Jan. 31, 2016USD ($) | Oct. 31, 2015USD ($) | Jan. 31, 2015USD ($) | |
Derivative [Line Items] | |||||
Undesignated Commodity Contracts Latest Expiration Year | 2,048 | ||||
Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 2,527 | $ 1,027 | |||
Commodity Contracts [Member] | Electricity [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, energy measure, in gigawatt-hours | GWh | 70 | 25,370 | |||
Commodity Contracts [Member] | Natural Gas [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, volume, in millions of dekatherms | Bcf | 398 | 676 | |||
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 700 | $ 750 | |||
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | 1,827 | 277 | |||
Variable Interest Entity, Primary Beneficiary [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | 497 | $ 541 | |||
Subsequent Event [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 500 | ||||
Piedmont Natural Gas [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | 900 | ||||
Piedmont Natural Gas [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | 900 | ||||
Duke Energy Carolinas [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 400 | $ 400 | |||
Duke Energy Carolinas [Member] | Commodity Contracts [Member] | Natural Gas [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, volume, in millions of dekatherms | Bcf | 66 | 35 | |||
Duke Energy Carolinas [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 400 | ||||
Progress Energy [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 500 | $ 250 | |||
Progress Energy [Member] | Commodity Contracts [Member] | Natural Gas [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, volume, in millions of dekatherms | Bcf | 332 | 328 | |||
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 500 | $ 250 | |||
Duke Energy Progress [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 250 | ||||
Duke Energy Progress [Member] | Commodity Contracts [Member] | Natural Gas [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, volume, in millions of dekatherms | Bcf | 117 | 116 | |||
Duke Energy Progress [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Floating interest rate | 1.75% | ||||
Notional amount | $ 250 | $ 250 | |||
Duke Energy Florida [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 250 | $ 250 | |||
Duke Energy Florida [Member] | Commodity Contracts [Member] | Natural Gas [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, volume, in millions of dekatherms | Bcf | 215 | 212 | |||
Duke Energy Florida [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 250 | $ 250 | |||
Duke Energy Ohio [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 27 | $ 27 | |||
Duke Energy Ohio [Member] | Commodity Contracts [Member] | Electricity [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, energy measure, in gigawatt-hours | GWh | 34 | 19,141 | |||
Duke Energy Ohio [Member] | Commodity Contracts [Member] | Natural Gas [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, volume, in millions of dekatherms | Bcf | 313 | ||||
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||
Derivative [Line Items] | |||||
Notional amount | $ 27 | $ 27 | |||
Duke Energy Indiana [Member] | Commodity Contracts [Member] | Electricity [Member] | |||||
Derivative [Line Items] | |||||
Notional amount, energy measure, in gigawatt-hours | GWh | 36 |
Derivatives and Hedging (Locati
Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $ 26 | $ 351 |
Location and fair value amounts of derivatives (Liability) | 419 | 909 |
Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 45 | 19 |
Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 11 | 2 |
Location and fair value amounts of derivatives (Liability) | 322 | 371 |
Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 98 | 132 |
Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | 2 |
Location and fair value amounts of derivatives (Liability) | 216 | 239 |
Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 341 |
Location and fair value amounts of derivatives (Liability) | 7 | 473 |
Duke Energy Indiana [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | 14 |
Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 18 | 210 |
Current Assets, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | 2 |
Current Assets, Other [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Current Assets, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 2 |
Current Assets, Other [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 204 |
Current Assets, Other [Member] | Duke Energy Indiana [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | 14 |
Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 8 | 136 |
Investments And Other Assets, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Investments And Other Assets, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Investments And Other Assets, Other [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 137 | |
Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 271 | 573 |
Current Liabilities, Other [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 32 | 14 |
Current Liabilities, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 225 | 289 |
Current Liabilities, Other [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 77 | 109 |
Current Liabilities, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 145 | 180 |
Current Liabilities, Other [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 257 |
Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 148 | 319 |
Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 13 | 5 |
Deferred Credits And Other Liabilities, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 97 | 82 |
Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 21 | 23 |
Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 71 | 59 |
Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | 216 |
Commodity Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 16 | 339 |
Location and fair value amounts of derivatives (Liability) | 356 | 859 |
Commodity Contract [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 40 | 19 |
Commodity Contract [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 5 | |
Location and fair value amounts of derivatives (Liability) | 314 | 369 |
Commodity Contract [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 93 | 132 |
Commodity Contract [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 5 | |
Location and fair value amounts of derivatives (Liability) | 216 | 237 |
Commodity Contract [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 341 |
Location and fair value amounts of derivatives (Liability) | 467 | |
Commodity Contract [Member] | Duke Energy Indiana [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | 14 |
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 12 | |
Location and fair value amounts of derivatives (Liability) | 256 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 32 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 222 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 77 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 145 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Indiana [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 100 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 8 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 92 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 16 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 71 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 18 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Other [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Other [Member] | Duke Energy Indiana [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 14 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 15 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Assets Held For Sale [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 28 | |
Location and fair value amounts of derivatives (Liability) | 4 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Investments And Other Assets, Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 15 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Investments And Other Assets, Assets Held For Sale [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 26 | |
Location and fair value amounts of derivatives (Liability) | 4 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 307 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 14 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 288 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 108 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 180 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 174 | |
Location and fair value amounts of derivatives (Liability) | 253 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Assets Held For Sale [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 175 | |
Location and fair value amounts of derivatives (Liability) | 252 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 91 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 80 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 23 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 57 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits and Other Liabilities, Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 111 | |
Location and fair value amounts of derivatives (Liability) | 208 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits and Other Liabilities, Assets Held For Sale [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 111 | |
Location and fair value amounts of derivatives (Liability) | 207 | |
Interest Rate Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 10 | 12 |
Location and fair value amounts of derivatives (Liability) | 63 | 50 |
Interest Rate Contract [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | |
Interest Rate Contract [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | 2 |
Location and fair value amounts of derivatives (Liability) | 8 | 2 |
Interest Rate Contract [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 5 | |
Interest Rate Contract [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 2 |
Location and fair value amounts of derivatives (Liability) | 2 | |
Interest Rate Contract [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 7 | 6 |
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 11 | |
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Noncurrent [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 33 | |
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 10 | |
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 13 | |
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 29 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Location and fair value amounts of derivatives (Liability) | 4 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Location and fair value amounts of derivatives (Liability) | 3 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 15 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Noncurrent [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | $ 6 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Assets, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities, Other [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 7 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 2 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 2 | |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Credits And Other Liabilities, Other [Member] | Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | $ 5 |
Derivatives and Hedging (Schedu
Derivatives and Hedging (Schedule of Offsetting Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | $ 26 | $ 351 |
Net amounts presented on Balance Sheets | 26 | 110 |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 419 | 909 |
Net amounts presented on Balance Sheets | 419 | 668 |
Current Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 18 | 210 |
Gross amounts offset | (3) | (153) |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 57 | |
Net amounts presented on Balance Sheets | 15 | 57 |
Investments And Other Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 8 | 136 |
Gross amounts offset | (4) | (88) |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 48 | |
Derivative Asset, Not Subject to Master Netting Arrangement | 5 | |
Net amounts presented on Balance Sheets | 4 | 53 |
Other Current Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 271 | 573 |
Gross amounts offset | (22) | (213) |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 360 | |
Derivative Liability, Not Subject to Master Netting Arrangement | 1 | |
Net amounts presented on Balance Sheets | 249 | 361 |
Other Noncurrent Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 148 | 319 |
Gross amounts offset | (16) | (173) |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 146 | |
Derivative Liability, Not Subject to Master Netting Arrangement | 16 | |
Net amounts presented on Balance Sheets | 132 | 162 |
Duke Energy Carolinas [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 45 | 19 |
Net amounts presented on Balance Sheets | 45 | 19 |
Duke Energy Carolinas [Member] | Other Current Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 32 | 14 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 14 | |
Net amounts presented on Balance Sheets | 32 | 14 |
Duke Energy Carolinas [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 13 | 5 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 5 | |
Net amounts presented on Balance Sheets | 13 | 5 |
Progress Energy [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 11 | 2 |
Net amounts presented on Balance Sheets | 11 | 4 |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 322 | 371 |
Net amounts presented on Balance Sheets | 322 | 373 |
Progress Energy [Member] | Current Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 7 | 2 |
Gross amounts offset | (2) | (2) |
Net amounts presented on Balance Sheets | 5 | |
Progress Energy [Member] | Investments And Other Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 4 | |
Gross amounts offset | (4) | |
Progress Energy [Member] | Other Current Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 225 | 289 |
Gross amounts offset | (21) | (17) |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 272 | |
Net amounts presented on Balance Sheets | 204 | 272 |
Progress Energy [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 97 | 82 |
Gross amounts offset | (15) | (8) |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 74 | |
Net amounts presented on Balance Sheets | 82 | 74 |
Duke Energy Progress [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | |
Net amounts presented on Balance Sheets | 2 | |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 98 | 132 |
Net amounts presented on Balance Sheets | 98 | 132 |
Duke Energy Progress [Member] | Current Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | |
Net amounts presented on Balance Sheets | 2 | |
Duke Energy Progress [Member] | Other Current Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 77 | 109 |
Gross amounts offset | (1) | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 109 | |
Net amounts presented on Balance Sheets | 76 | 109 |
Duke Energy Progress [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 21 | 23 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 23 | |
Net amounts presented on Balance Sheets | 21 | 23 |
Duke Energy Florida [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 7 | 2 |
Net amounts presented on Balance Sheets | 7 | 4 |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 216 | 239 |
Net amounts presented on Balance Sheets | 216 | 241 |
Duke Energy Florida [Member] | Current Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | 2 |
Gross amounts offset | (2) | (2) |
Net amounts presented on Balance Sheets | 1 | |
Duke Energy Florida [Member] | Investments And Other Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 4 | |
Gross amounts offset | (4) | |
Duke Energy Florida [Member] | Other Current Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 145 | 180 |
Gross amounts offset | (20) | (17) |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 163 | |
Net amounts presented on Balance Sheets | 125 | 163 |
Duke Energy Florida [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 71 | 59 |
Gross amounts offset | (15) | (8) |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 51 | |
Net amounts presented on Balance Sheets | 56 | 51 |
Duke Energy Ohio [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | 341 |
Net amounts presented on Balance Sheets | 3 | 49 |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 7 | 473 |
Net amounts presented on Balance Sheets | 7 | 181 |
Duke Energy Ohio [Member] | Current Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | 204 |
Gross amounts offset | (179) | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 25 | |
Net amounts presented on Balance Sheets | 3 | 25 |
Duke Energy Ohio [Member] | Investments And Other Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 137 | |
Gross amounts offset | (114) | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 23 | |
Net amounts presented on Balance Sheets | 23 | |
Duke Energy Ohio [Member] | Other Current Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 1 | 257 |
Gross amounts offset | (222) | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 35 | |
Net amounts presented on Balance Sheets | 1 | 35 |
Duke Energy Ohio [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 6 | 216 |
Gross amounts offset | (193) | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 23 | |
Net amounts presented on Balance Sheets | 6 | 23 |
Duke Energy Indiana [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 7 | 14 |
Net amounts presented on Balance Sheets | 7 | 14 |
Duke Energy Indiana [Member] | Current Assets, Other [Member] | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 7 | 14 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 14 | |
Net amounts presented on Balance Sheets | $ 7 | $ 14 |
Derivatives and Hedging (Deriva
Derivatives and Hedging (Derivative Instruments That Contain Credit-Risk Related Contingent Features and Cash Collateral) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | $ 334 | $ 845 |
Collateral Already Posted, Aggregate Fair Value | 30 | 209 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 304 | 407 |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Amounts not offset against net derivative positions | 64 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 30 | 145 |
Duke Energy Carolinas [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 45 | 19 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 45 | 19 |
Progress Energy [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 290 | 370 |
Collateral Already Posted, Aggregate Fair Value | 30 | 23 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 260 | 347 |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 30 | 23 |
Duke Energy Progress [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 93 | 131 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 93 | 131 |
Duke Energy Florida [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 194 | 239 |
Collateral Already Posted, Aggregate Fair Value | 30 | 23 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 164 | 216 |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | $ 30 | 23 |
Duke Energy Ohio [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 456 | |
Collateral Already Posted, Aggregate Fair Value | 186 | |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 41 | |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Amounts not offset against net derivative positions | 64 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | $ 122 |
Investments in Debt and Equi109
Investments in Debt and Equity Securities (Available-For-Sale Investments) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | $ 1,882 | $ 2,004 |
Gross Unrealized Holding Losses | 83 | 38 |
Estimated Fair Value | 6,214 | 5,901 |
NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,846 | 1,965 |
Gross Unrealized Holding Losses | 76 | 35 |
Estimated Fair Value | 5,817 | 5,549 |
NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 179 | 136 |
NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,823 | 1,926 |
Gross Unrealized Holding Losses | 58 | 29 |
Estimated Fair Value | 3,590 | 3,650 |
NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 7 | 14 |
Gross Unrealized Holding Losses | 8 | 2 |
Estimated Fair Value | 432 | 454 |
NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 5 | 5 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 185 | 184 |
NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 11 | 19 |
Gross Unrealized Holding Losses | 5 | 2 |
Estimated Fair Value | 1,254 | 978 |
NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | |
Gross Unrealized Holding Losses | 4 | 2 |
Estimated Fair Value | 177 | 147 |
Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 36 | 39 |
Gross Unrealized Holding Losses | 7 | 3 |
Estimated Fair Value | 397 | 352 |
Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 29 | 15 |
Other Classification [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 32 | 34 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 95 | 96 |
Other Classification [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | 1 |
Gross Unrealized Holding Losses | 3 | 1 |
Estimated Fair Value | 92 | 58 |
Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 3 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 74 | 76 |
Other Classification [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 45 | 27 |
Other Classification [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | |
Gross Unrealized Holding Losses | 2 | 1 |
Estimated Fair Value | 62 | 80 |
Duke Energy Carolinas [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,028 | 1,119 |
Gross Unrealized Holding Losses | 40 | 23 |
Estimated Fair Value | 3,041 | 3,035 |
Duke Energy Carolinas [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,028 | 1,119 |
Gross Unrealized Holding Losses | 39 | 22 |
Estimated Fair Value | 3,038 | 3,032 |
Duke Energy Carolinas [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 34 | 51 |
Duke Energy Carolinas [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,021 | 1,102 |
Gross Unrealized Holding Losses | 27 | 17 |
Estimated Fair Value | 2,094 | 2,162 |
Duke Energy Carolinas [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 8 |
Gross Unrealized Holding Losses | 5 | 2 |
Estimated Fair Value | 292 | 316 |
Duke Energy Carolinas [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | 1 |
Estimated Fair Value | 33 | 62 |
Duke Energy Carolinas [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 7 |
Gross Unrealized Holding Losses | 3 | 1 |
Estimated Fair Value | 438 | 308 |
Duke Energy Carolinas [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | |
Gross Unrealized Holding Losses | 4 | 2 |
Estimated Fair Value | 147 | 133 |
Duke Energy Carolinas [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 3 | 3 |
Duke Energy Carolinas [Member] | Other Classification [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 3 | 3 |
Progress Energy [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 821 | 849 |
Gross Unrealized Holding Losses | 37 | 13 |
Estimated Fair Value | 2,842 | 2,575 |
Progress Energy [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 818 | 846 |
Gross Unrealized Holding Losses | 37 | 13 |
Estimated Fair Value | 2,779 | 2,517 |
Progress Energy [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 145 | 85 |
Progress Energy [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 802 | 824 |
Gross Unrealized Holding Losses | 31 | 12 |
Estimated Fair Value | 1,496 | 1,488 |
Progress Energy [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 4 | 6 |
Gross Unrealized Holding Losses | 3 | |
Estimated Fair Value | 140 | 138 |
Progress Energy [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 4 | 4 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 152 | 122 |
Progress Energy [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 8 | 12 |
Gross Unrealized Holding Losses | 2 | 1 |
Estimated Fair Value | 816 | 670 |
Progress Energy [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 30 | 14 |
Progress Energy [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 3 |
Estimated Fair Value | 63 | 58 |
Progress Energy [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 18 | 15 |
Progress Energy [Member] | Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 3 |
Estimated Fair Value | 45 | 43 |
Duke Energy Progress [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 609 | 630 |
Gross Unrealized Holding Losses | 30 | 11 |
Estimated Fair Value | 2,039 | 1,711 |
Duke Energy Progress [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 609 | 630 |
Gross Unrealized Holding Losses | 30 | 11 |
Estimated Fair Value | 2,038 | 1,711 |
Duke Energy Progress [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 110 | 50 |
Duke Energy Progress [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 596 | 612 |
Gross Unrealized Holding Losses | 25 | 10 |
Estimated Fair Value | 1,178 | 1,171 |
Duke Energy Progress [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 5 |
Gross Unrealized Holding Losses | 2 | |
Estimated Fair Value | 96 | 97 |
Duke Energy Progress [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 4 | 4 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 150 | 120 |
Duke Energy Progress [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 6 | 9 |
Gross Unrealized Holding Losses | 2 | 1 |
Estimated Fair Value | 486 | 265 |
Duke Energy Progress [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 18 | 8 |
Duke Energy Progress [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 1 | |
Duke Energy Progress [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 1 | |
Duke Energy Florida [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 212 | 219 |
Gross Unrealized Holding Losses | 7 | 2 |
Estimated Fair Value | 792 | 850 |
Duke Energy Florida [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 209 | 216 |
Gross Unrealized Holding Losses | 7 | 2 |
Estimated Fair Value | 741 | 806 |
Duke Energy Florida [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 35 | 35 |
Duke Energy Florida [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 206 | 212 |
Gross Unrealized Holding Losses | 6 | 2 |
Estimated Fair Value | 318 | 317 |
Duke Energy Florida [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | 1 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 44 | 41 |
Duke Energy Florida [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 2 | 2 |
Duke Energy Florida [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 2 | 3 |
Estimated Fair Value | 330 | 405 |
Duke Energy Florida [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 12 | 6 |
Duke Energy Florida [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 3 |
Estimated Fair Value | 51 | 44 |
Duke Energy Florida [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 6 | 1 |
Duke Energy Florida [Member] | Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 3 |
Estimated Fair Value | 45 | 43 |
Duke Energy Indiana [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 27 | 28 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 101 | 101 |
Duke Energy Indiana [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 27 | 28 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 101 | 101 |
Duke Energy Indiana [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 2 | |
Duke Energy Indiana [Member] | Other Classification [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 27 | 28 |
Estimated Fair Value | 71 | 71 |
Duke Energy Indiana [Member] | Other Classification [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 2 | |
Duke Energy Indiana [Member] | Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | $ 26 | $ 30 |
Investments in Debt and Equi110
Investments in Debt and Equity Securities (Maturities) (Details) $ in Millions | Dec. 31, 2015USD ($) |
Debt Instrument [Line Items] | |
Due in one year or less | $ 120 |
Due after one through five years | 775 |
Due after five through ten years | 598 |
Due after ten years | 828 |
Total | 2,321 |
Duke Energy Carolinas [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 13 |
Due after one through five years | 187 |
Due after five through ten years | 275 |
Due after ten years | 438 |
Total | 913 |
Progress Energy [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 94 |
Due after one through five years | 496 |
Due after five through ten years | 254 |
Due after ten years | 339 |
Total | 1,183 |
Duke Energy Progress [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 15 |
Due after one through five years | 285 |
Due after five through ten years | 206 |
Due after ten years | 244 |
Total | 750 |
Duke Energy Florida [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 79 |
Due after one through five years | 211 |
Due after five through ten years | 48 |
Due after ten years | 95 |
Total | 433 |
Duke Energy Indiana [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 2 |
Due after one through five years | 14 |
Due after five through ten years | 9 |
Due after ten years | 3 |
Total | $ 28 |
Investments in Debt and Equi111
Investments in Debt and Equity Securities Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | $ 193 | $ 271 | $ 209 |
Realized losses | 98 | 105 | 65 |
Duke Energy Carolinas [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 158 | 109 | 115 |
Realized losses | 83 | 93 | 12 |
Progress Energy [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 33 | 157 | 90 |
Realized losses | 13 | 11 | 46 |
Duke Energy Progress [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 26 | 19 | 58 |
Realized losses | 11 | 5 | 26 |
Duke Energy Florida [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 7 | 138 | 32 |
Realized losses | $ 2 | $ 5 | $ 20 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | $ 26 | $ 110 |
Assets, fair value disclosure | 6,240 | 6,018 |
Derivative liabilities | (419) | (668) |
Net assets, fair value | 5,821 | 5,350 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 49 |
Assets, fair value disclosure | 4,260 | 4,327 |
Derivative liabilities | 0 | (162) |
Net assets, fair value | 4,260 | 4,165 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 16 | 24 |
Assets, fair value disclosure | 1,793 | 1,498 |
Derivative liabilities | (419) | (468) |
Net assets, fair value | 1,374 | 1,030 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 10 | 37 |
Assets, fair value disclosure | 15 | 42 |
Derivative liabilities | 0 | (38) |
Net assets, fair value | 15 | 4 |
Fair Value, Inputs, Not Categorized [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 172 | 151 |
Net assets, fair value | 172 | 151 |
Duke Energy Carolinas [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 3,041 | 3,035 |
Derivative liabilities | (45) | (19) |
Net assets, fair value | 2,996 | 3,016 |
Duke Energy Carolinas [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 2,168 | 2,143 |
Net assets, fair value | 2,168 | 2,143 |
Duke Energy Carolinas [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 698 | 738 |
Derivative liabilities | (45) | (19) |
Net assets, fair value | 653 | 719 |
Duke Energy Carolinas [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 3 | 3 |
Net assets, fair value | 3 | 3 |
Duke Energy Carolinas [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 172 | 151 |
Net assets, fair value | 172 | 151 |
Progress Energy [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 11 | 4 |
Assets, fair value disclosure | 2,853 | 2,579 |
Derivative liabilities | (322) | (373) |
Net assets, fair value | 2,531 | 2,206 |
Progress Energy [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 1,940 | 2,013 |
Net assets, fair value | 1,940 | 2,013 |
Progress Energy [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 11 | 4 |
Assets, fair value disclosure | 913 | 566 |
Derivative liabilities | (322) | (373) |
Net assets, fair value | 591 | 193 |
Duke Energy Progress [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | |
Assets, fair value disclosure | 2,041 | 1,711 |
Derivative liabilities | (98) | (132) |
Net assets, fair value | 1,943 | 1,579 |
Duke Energy Progress [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 1,320 | 1,322 |
Net assets, fair value | 1,320 | 1,322 |
Duke Energy Progress [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | |
Assets, fair value disclosure | 721 | 389 |
Derivative liabilities | (98) | (132) |
Net assets, fair value | 623 | 257 |
Duke Energy Florida [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | 4 |
Assets, fair value disclosure | 799 | 854 |
Derivative liabilities | (216) | (241) |
Net assets, fair value | 583 | 613 |
Duke Energy Florida [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 609 | 676 |
Net assets, fair value | 609 | 676 |
Duke Energy Florida [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | 4 |
Assets, fair value disclosure | 190 | 178 |
Derivative liabilities | (216) | (241) |
Net assets, fair value | (26) | (63) |
Duke Energy Ohio [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | 49 |
Derivative liabilities | (7) | (181) |
Net assets, fair value | (4) | (132) |
Duke Energy Ohio [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | |
Derivative liabilities | 0 | (117) |
Net assets, fair value | (97) | |
Duke Energy Ohio [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 9 | |
Derivative liabilities | (7) | (26) |
Net assets, fair value | (7) | (17) |
Duke Energy Ohio [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | 20 |
Derivative liabilities | (38) | |
Net assets, fair value | 3 | (18) |
Duke Energy Indiana [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | 14 |
Net assets, fair value | 108 | 115 |
Duke Energy Indiana [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | |
Net assets, fair value | 73 | 71 |
Duke Energy Indiana [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net assets, fair value | 28 | 30 |
Duke Energy Indiana [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | 14 |
Net assets, fair value | 7 | 14 |
NDTF [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3,590 | 3,650 |
NDTF [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3,418 | 3,493 |
NDTF [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 6 | |
NDTF [Member] | Equity Securities [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 172 | 151 |
NDTF [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 2,227 | 1,899 |
NDTF [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 672 | 648 |
NDTF [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,555 | 1,251 |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 2,094 | 2,162 |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,922 | 2,005 |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 6 | |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 172 | 151 |
NDTF [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 944 | 870 |
NDTF [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 246 | 138 |
NDTF [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 698 | 732 |
NDTF [Member] | Progress Energy [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,496 | 1,488 |
NDTF [Member] | Progress Energy [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,496 | 1,488 |
NDTF [Member] | Progress Energy [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,283 | 1,029 |
NDTF [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 426 | 510 |
NDTF [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 857 | 519 |
NDTF [Member] | Duke Energy Progress [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,178 | 1,171 |
NDTF [Member] | Duke Energy Progress [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,178 | 1,171 |
NDTF [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 860 | 540 |
NDTF [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 141 | 151 |
NDTF [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 719 | 389 |
NDTF [Member] | Duke Energy Florida [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 318 | 317 |
NDTF [Member] | Duke Energy Florida [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 318 | 317 |
NDTF [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 423 | 489 |
NDTF [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 285 | 359 |
NDTF [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 138 | 130 |
Other Classification [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 95 | 96 |
Other Classification [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 95 | 96 |
Other Classification [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 302 | 263 |
Other Classification [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 75 | 41 |
Other Classification [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 222 | 217 |
Other Classification [Member] | Debt Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 5 | 5 |
Other Classification [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3 | 3 |
Other Classification [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3 | 3 |
Other Classification [Member] | Progress Energy [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 63 | 58 |
Other Classification [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 18 | 15 |
Other Classification [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 45 | 43 |
Other Classification [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1 | |
Other Classification [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1 | |
Other Classification [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 51 | 44 |
Other Classification [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 6 | |
Other Classification [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 45 | 44 |
Other Classification [Member] | Duke Energy Indiana [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, equity securities | 71 | 71 |
Other Classification [Member] | Duke Energy Indiana [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, equity securities | 71 | 71 |
Other Classification [Member] | Duke Energy Indiana [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, debt securities | 30 | 30 |
Other Classification [Member] | Duke Energy Indiana [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, debt securities | 2 | |
Other Classification [Member] | Duke Energy Indiana [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, debt securities | $ 28 | $ 30 |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation of Assets and Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 4 | $ 33 |
Total pretax gains (losses) included in earnings | 21 | (7) |
Purchases | 24 | 50 |
Sales | (1) | (15) |
Settlements | (37) | (54) |
Transfers in and/or out of level 3 | 6 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 6 | |
Total gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 4 | (9) |
Ending balance | 15 | 4 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning balance | (1) | 13 |
Total pretax gains (losses) included in earnings | 21 | (7) |
Purchases | 24 | 50 |
Sales | 1 | |
Settlements | 37 | 54 |
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 4 | (9) |
Ending balance | 10 | (1) |
Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at end of period | (14) | |
Investments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 5 | 20 |
Sales | (15) | |
Ending balance | 5 | 5 |
Derivative [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at end of period | (14) | |
Duke Energy Carolinas [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 3 | 1 |
Settlements | (2) | |
Ending balance | 3 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning balance | (2) | |
Settlements | (2) | |
Duke Energy Carolinas [Member] | Investments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 3 | 3 |
Ending balance | 3 | |
Duke Energy Ohio [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 6 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning balance | (18) | (4) |
Total pretax gains (losses) included in earnings | 21 | (9) |
Purchases | 5 | 1 |
Settlements | 5 | 13 |
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 0 | 1 |
Ending balance | 3 | (18) |
Duke Energy Indiana [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning balance | 14 | 12 |
Total pretax gains (losses) included in earnings | 3 | |
Purchases | 19 | 49 |
Settlements | (30) | (41) |
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 4 | (9) |
Ending balance | $ 7 | $ 14 |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosure) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015USD ($)$ / MWh | Dec. 31, 2014USD ($)$ / MWh | Dec. 31, 2013USD ($) | |
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ 10 | $ (1) | $ 13 |
Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ (5) | ||
Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair Value Inputs Price Per MMBtu | 2.12 | ||
Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair Value Inputs Price Per MMBtu | 4.35 | ||
Financial Transmission Rights [Member] | Market Approach Valuation Technique [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ 10 | $ 14 | |
Financial Transmission Rights [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price per MWh | (0.74) | (1.92) | |
Financial Transmission Rights [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price per MWh | 7.29 | 9.86 | |
Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ (1) | ||
Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price per MWh | 25.16 | ||
Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price per MWh | 51.75 | ||
Commodity Capacity Option Contracts [Member] | Discounted Cash Flow [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ 2 | ||
Commodity Capacity Option Contracts [Member] | Discounted Cash Flow [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair Value Inputs Price Per Mwd | 21 | ||
Commodity Capacity Option Contracts [Member] | Discounted Cash Flow [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair Value Inputs Price Per Mwd | 109 | ||
Derivative Financial Instruments Liabilities Reserves [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ (11) | ||
Duke Energy Carolinas [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | (2) | ||
Duke Energy Ohio [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ 3 | (18) | (4) |
Duke Energy Ohio [Member] | Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ (5) | ||
Duke Energy Ohio [Member] | Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair Value Inputs Price Per MMBtu | 2.12 | ||
Duke Energy Ohio [Member] | Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair Value Inputs Price Per MMBtu | 4.35 | ||
Duke Energy Ohio [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ 3 | ||
Duke Energy Ohio [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price FTR | 0.67 | ||
Duke Energy Ohio [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price FTR | 2.53 | ||
Duke Energy Ohio [Member] | Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ (6) | ||
Duke Energy Ohio [Member] | Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price per MWh | 25.25 | ||
Duke Energy Ohio [Member] | Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price per MWh | 51.75 | ||
Duke Energy Ohio [Member] | Derivative Financial Instruments Liabilities Reserves [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ (7) | ||
Duke Energy Indiana [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ 7 | 14 | $ 12 |
Duke Energy Indiana [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Net derivative asset (liability) | $ | $ 7 | $ 14 | |
Duke Energy Indiana [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | Minimum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price FTR | (0.74) | (1.92) | |
Duke Energy Indiana [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | Maximum [Member] | |||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | |||
Fair value inputs, price FTR | 7.29 | 9.86 |
Fair Value Measurements (Additi
Fair Value Measurements (Additional Fair Value Disclosure) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 39,569 | $ 39,868 |
Long-term debt, fair value | 42,537 | 44,566 |
Duke Energy Carolinas [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 8,367 | 8,353 |
Long-term debt, fair value | 9,156 | 9,626 |
Progress Energy [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 14,464 | 14,668 |
Long-term debt, fair value | 15,856 | 16,951 |
Duke Energy Progress [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 6,518 | 6,170 |
Long-term debt, fair value | 6,757 | 6,696 |
Duke Energy Florida [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 4,266 | 4,823 |
Long-term debt, fair value | 4,908 | 5,767 |
Duke Energy Ohio [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 1,598 | 1,760 |
Long-term debt, fair value | 1,724 | 1,970 |
Duke Energy Indiana [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 3,768 | 3,769 |
Long-term debt, fair value | $ 4,219 | $ 4,456 |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Variable Interest Entity [Line Items] | |||
Debt Instrument, Face Amount | $ 2,700,000,000 | $ 2,922,000,000 | |
Impairment charges | 120,000,000 | 81,000,000 | $ 399,000,000 |
Cinergy Receivables [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Debt Instrument, Face Amount | $ 325,000,000 | ||
Line of credit facility, expiration date | Dec. 1, 2018 | ||
Percent of proceeds received as cash | 75.00% | ||
Percent of proceeds received as subordinated note | 25.00% | ||
Minimum Equity Balance required by Cinergy Receivables | $ 3,000,000 | ||
Duke American Transmission Company [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity Ownership Interest | 50.00% | ||
Atlantic Coast Pipeline [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity Ownership Interest | 40.00% | ||
Sabal Trail Transmission Pipeline [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity Ownership Interest | 7.50% | ||
Duke Energy Carolinas [Member] | |||
Variable Interest Entity [Line Items] | |||
Debt Instrument, Face Amount | $ 500,000,000 | ||
Impairment charges | 1,000,000 | 3,000,000 | |
Duke Energy Progress [Member] | |||
Variable Interest Entity [Line Items] | |||
Debt Instrument, Face Amount | 1,200,000,000 | 1,350,000,000 | |
Impairment charges | 5,000,000 | (18,000,000) | 22,000,000 |
Duke Energy Progress [Member] | DEPR [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Debt Instrument, Face Amount | $ 300,000,000 | ||
Line of credit facility, expiration date | Feb. 1, 2019 | ||
Duke Energy Florida [Member] | |||
Variable Interest Entity [Line Items] | |||
Debt Instrument, Face Amount | 225,000,000 | ||
Impairment charges | $ 7,000,000 | 2,000,000 | 358,000,000 |
Duke Energy Ohio [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 94,000,000 | $ 5,000,000 | |
Duke Energy Ohio [Member] | Cinergy Receivables [Member] | |||
Variable Interest Entity [Line Items] | |||
Fixed interest rate added to LIBOR to compute variable rate | 1.00% | ||
Duke Energy Ohio [Member] | Other VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | $ 94,000,000 | ||
Duke Energy Ohio [Member] | OVEC [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity Ownership Interest | 9.00% | ||
Duke Energy Indiana [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | $ 88,000,000 | ||
Duke Energy Indiana [Member] | Cinergy Receivables [Member] | |||
Variable Interest Entity [Line Items] | |||
Fixed interest rate added to LIBOR to compute variable rate | 1.00% |
Variable Interest Entities (Con
Variable Interest Entities (Consolidated VIEs) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | $ 857 | $ 2,036 | $ 1,501 | $ 1,424 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 1,748 | 1,973 | ||
Other current assets | 327 | 1,837 | ||
Investments and other assets | 3,042 | 3,008 | ||
Total property, plant and equipment | 112,826 | 104,861 | ||
Accumulated depreciation and amortization | (37,665) | (34,824) | ||
Other deferred debits | 43 | 19 | ||
Accounts payable | 2,400 | 2,271 | ||
Current maturities of long-term debt | 2,074 | 2,807 | ||
Other current liabilities | 2,115 | 2,188 | ||
Long-Term debt | 37,495 | 37,061 | ||
Deferred income taxes | 12,705 | 13,423 | ||
Asset retirement obligations | 10,264 | 8,466 | ||
Other Liabilities | 1,706 | 1,675 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | 2 | |||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 1,748 | 1,973 | ||
Other current assets | 142 | 74 | ||
Investments and other assets | 70 | 50 | ||
Total property, plant and equipment | 2,035 | 1,873 | ||
Accumulated depreciation and amortization | (327) | (255) | ||
Other deferred debits | 36 | |||
Total assets | 3,670 | 3,751 | ||
Accounts payable | 35 | 3 | ||
Taxes accrued | 14 | 6 | ||
Current maturities of long-term debt | 125 | 84 | ||
Other current liabilities | 17 | 21 | ||
Long-Term debt | 2,197 | 2,234 | ||
Deferred income taxes | 289 | 283 | ||
Asset retirement obligations | 35 | 29 | ||
Other Liabilities | 33 | 38 | ||
Total liabilities | 2,745 | 2,698 | ||
Net assets of consolidated VIEs | 925 | 1,053 | ||
Duke Energy Carolinas [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | 13 | 13 | 23 | 19 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 596 | 647 | ||
Other current assets | 128 | 77 | ||
Investments and other assets | 999 | 959 | ||
Total property, plant and equipment | 39,398 | 37,372 | ||
Accumulated depreciation and amortization | (13,521) | (12,700) | ||
Other deferred debits | 4 | 4 | ||
Accounts payable | 753 | 709 | ||
Current maturities of long-term debt | 356 | 507 | ||
Other current liabilities | 519 | 434 | ||
Long-Term debt | 7,711 | 7,546 | ||
Deferred income taxes | 6,146 | 5,812 | ||
Asset retirement obligations | 3,918 | 3,428 | ||
Other Liabilities | 621 | 642 | ||
Duke Energy Progress [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | 15 | 9 | 21 | 18 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 349 | 436 | ||
Other current assets | 121 | 384 | ||
Investments and other assets | 486 | 412 | ||
Total property, plant and equipment | 27,313 | 24,207 | ||
Accumulated depreciation and amortization | (10,141) | (9,021) | ||
Other deferred debits | 3 | 3 | ||
Accounts payable | 399 | 481 | ||
Current maturities of long-term debt | 2 | 945 | ||
Other current liabilities | 412 | 409 | ||
Long-Term debt | 6,366 | 5,225 | ||
Deferred income taxes | 3,027 | 2,908 | ||
Asset retirement obligations | 4,567 | 3,905 | ||
Other Liabilities | 45 | 89 | ||
Duke Energy Florida [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | 8 | 8 | $ 16 | $ 131 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 308 | 305 | ||
Other current assets | 21 | 521 | ||
Investments and other assets | 292 | 204 | ||
Total property, plant and equipment | 15,343 | 14,433 | ||
Accumulated depreciation and amortization | (4,720) | (4,478) | ||
Other deferred debits | 2 | 2 | ||
Accounts payable | 322 | 365 | ||
Current maturities of long-term debt | 13 | 562 | ||
Other current liabilities | 452 | 586 | ||
Long-Term debt | 4,253 | 4,261 | ||
Deferred income taxes | 2,460 | 2,452 | ||
Asset retirement obligations | 802 | 806 | ||
Other Liabilities | 146 | 158 | ||
DERF [Member] | Duke Energy Carolinas [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 596 | 647 | ||
Total assets | 596 | 647 | ||
Taxes accrued | 5 | |||
Long-Term debt | 425 | 400 | ||
Total liabilities | 430 | 400 | ||
Net assets of consolidated VIEs | 166 | 247 | ||
DEPR [Member] | Duke Energy Progress [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 349 | 436 | ||
Total assets | 349 | 436 | ||
Taxes accrued | 3 | |||
Long-Term debt | 254 | 300 | ||
Total liabilities | 257 | 300 | ||
Net assets of consolidated VIEs | 92 | 136 | ||
DEFR [Member] | Duke Energy Florida [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 309 | 305 | ||
Total assets | 309 | 305 | ||
Long-Term debt | 225 | $ 225 | ||
Deferred income taxes | ||||
Asset retirement obligations | ||||
Other Liabilities | ||||
Total liabilities | 225 | $ 225 | ||
Net assets of consolidated VIEs | 84 | 80 | ||
Cinergy Receivables [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 454 | 547 | ||
Total assets | 454 | 547 | ||
Long-Term debt | 325 | 325 | ||
Total liabilities | 325 | 325 | ||
Net assets of consolidated VIEs | 129 | 222 | ||
Renewables [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 19 | 20 | ||
Other current assets | 138 | 68 | ||
Investments and other assets | 70 | 25 | ||
Total property, plant and equipment | 2,015 | 1,855 | ||
Accumulated depreciation and amortization | (321) | (250) | ||
Other deferred debits | 34 | |||
Total assets | 1,921 | 1,752 | ||
Accounts payable | 35 | 3 | ||
Taxes accrued | 5 | 6 | ||
Current maturities of long-term debt | 108 | 68 | ||
Other current liabilities | 15 | 16 | ||
Long-Term debt | 968 | 967 | ||
Deferred income taxes | 289 | 283 | ||
Asset retirement obligations | 35 | 29 | ||
Other Liabilities | 33 | 34 | ||
Total liabilities | 1,488 | 1,406 | ||
Net assets of consolidated VIEs | 433 | 346 | ||
Other VIEs [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||
Cash and Cash Equivalents, at Carrying Value | 2 | |||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 21 | 18 | ||
Other current assets | 4 | 6 | ||
Investments and other assets | 25 | |||
Total property, plant and equipment | 20 | 18 | ||
Accumulated depreciation and amortization | (6) | (5) | ||
Other deferred debits | 2 | |||
Total assets | 41 | 64 | ||
Taxes accrued | 1 | |||
Current maturities of long-term debt | 17 | 16 | ||
Other current liabilities | 2 | 5 | ||
Long-Term debt | 17 | |||
Deferred income taxes | 0 | |||
Other Liabilities | 4 | |||
Total liabilities | 20 | 42 | ||
Net assets of consolidated VIEs | $ 21 | $ 22 |
Variable Interest Entities (Sch
Variable Interest Entities (Schedule of Accounts Receivable Securitizations)(Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Variable Interest Entity [Line Items] | ||
Debt Instrument, Face Amount | $ 2,700,000,000 | $ 2,922,000,000 |
Duke Energy Carolinas [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt Instrument, Face Amount | 500,000,000 | |
Duke Energy Progress [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt Instrument, Face Amount | 1,200,000,000 | 1,350,000,000 |
Duke Energy Florida [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt Instrument, Face Amount | $ 225,000,000 | |
DERF [Member] | Duke Energy Carolinas [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt Instrument, Face Amount | $ 425,000,000 | |
Line of credit facility, expiration date | Dec. 1, 2018 | |
DEPR [Member] | Duke Energy Progress [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt Instrument, Face Amount | $ 300,000,000 | |
Line of credit facility, expiration date | Feb. 1, 2019 | |
DEFR [Member] | Duke Energy Florida [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt Instrument, Face Amount | $ 225,000,000 | |
Line of credit facility, expiration date | Mar. 1, 2017 |
Variable Interest Entities (119
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Variable Interest Entity [Line Items] | ||
Investments in equity method unconsolidated affiliates | $ 499 | $ 358 |
Investments and other assets | 3,042 | 3,008 |
Other current liabilities | 2,115 | 2,188 |
Other liabilities | 32,490 | 31,364 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Investments in equity method unconsolidated affiliates | 387 | 188 |
Investments and other assets | 4 | |
Total assets | 387 | 192 |
Other current liabilities | 3 | 3 |
Other liabilities | 14 | 14 |
Total liabilities | 17 | 17 |
Net assets of non-consolidated VIEs | 370 | 175 |
Renewables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Investments in equity method unconsolidated affiliates | 235 | 150 |
Total assets | 235 | 150 |
Net assets of non-consolidated VIEs | 235 | 150 |
Other VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Investments in equity method unconsolidated affiliates | 152 | 38 |
Investments and other assets | 4 | |
Total assets | 152 | 42 |
Other current liabilities | 3 | 3 |
Other liabilities | 14 | 14 |
Total liabilities | 17 | 17 |
Net assets of non-consolidated VIEs | 135 | 25 |
Duke Energy Ohio [Member] | ||
Variable Interest Entity [Line Items] | ||
Investments and other assets | 20 | 23 |
Other current liabilities | 153 | 66 |
Other liabilities | 1,998 | 2,281 |
Duke Energy Ohio [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Receivables | 47 | 91 |
Total assets | 47 | 91 |
Net assets of non-consolidated VIEs | 47 | 91 |
Duke Energy Indiana [Member] | ||
Variable Interest Entity [Line Items] | ||
Other current liabilities | 97 | 98 |
Other liabilities | 3,219 | 2,730 |
Duke Energy Indiana [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Receivables | 60 | 113 |
Total assets | 60 | 113 |
Net assets of non-consolidated VIEs | $ 60 | $ 113 |
Variable Interest Entities (Fai
Variable Interest Entities (Fair Value Assumptions)(Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - Cinergy Receivables [Member] | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Duke Energy Ohio [Member] | ||
Variable Interest Entity [Line Items] | ||
Anticipated credit loss ratio | 0.60% | 0.60% |
Discount rate | 1.20% | 1.20% |
Receivable turnover rate | 12.90% | 12.80% |
Duke Energy Indiana [Member] | ||
Variable Interest Entity [Line Items] | ||
Anticipated credit loss ratio | 0.30% | 0.30% |
Discount rate | 1.20% | 1.20% |
Receivable turnover rate | 10.60% | 10.50% |
Variable Interest Entities (Rec
Variable Interest Entities (Receivables Sold)(Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - Cinergy Receivables [Member] - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Duke Energy Ohio [Member] | ||
Variable Interest Entity [Line Items] | ||
Receivables sold | $ 233 | $ 273 |
Less: retained interests | 47 | 91 |
Net receivables sold | 186 | 182 |
Duke Energy Indiana [Member] | ||
Variable Interest Entity [Line Items] | ||
Receivables sold | 260 | 310 |
Less: retained interests | 60 | 113 |
Net receivables sold | $ 200 | $ 197 |
Variable Interest Entities (Sal
Variable Interest Entities (Sales and Cash Flows)(Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - Cinergy Receivables [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Duke Energy Ohio [Member] | |||
Variable Interest Entity [Line Items] | |||
Receivables sold | $ 1,963 | $ 2,246 | $ 2,251 |
Loss recognized on sale | 9 | 11 | 12 |
Cash proceeds from receivables sold | 1,995 | 2,261 | 2,220 |
Collection fees received | 1 | 1 | 1 |
Return received on retained interests | 3 | 4 | 5 |
Duke Energy Indiana [Member] | |||
Variable Interest Entity [Line Items] | |||
Receivables sold | 2,627 | 2,913 | 2,985 |
Loss recognized on sale | 11 | 11 | 11 |
Cash proceeds from receivables sold | 2,670 | 2,932 | 2,944 |
Collection fees received | 1 | 1 | 1 |
Return received on retained interests | $ 5 | $ 6 | $ 6 |
Common Stock (Earnings Per Shar
Common Stock (Earnings Per Share Data)(Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||||
Income (Loss) from Continuing Operations Attributable to Parent | $ 2,796 | $ 2,451 | $ 2,574 | ||||||||
Weighted Average Number of Shares Outstanding, Basic | 694 | 707 | 706 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 694 | 707 | 706 | ||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $ 0.70 | $ 1.36 | $ 0.87 | $ 1.09 | $ 0.14 | $ 1.25 | $ 1.02 | $ 1.05 | $ 4.02 | $ 3.46 | $ 3.64 |
Income (Loss) from Continuing Operations, Per Diluted Share | $ 0.70 | $ 1.36 | $ 0.87 | $ 1.09 | $ 0.14 | $ 1.25 | $ 1.02 | $ 1.05 | $ 4.02 | $ 3.46 | $ 3.63 |
Common Class A [Member] | |||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||||
Income (Loss) from Continuing Operations Attributable to Parent | $ 2,791 | $ 2,446 | $ 2,565 | ||||||||
Weighted Average Number of Shares Outstanding, Basic | 694 | 707 | 706 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 694 | 707 | 706 | ||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $ 4.02 | $ 3.46 | $ 3.64 | ||||||||
Income (Loss) from Continuing Operations, Per Diluted Share | $ 4.02 | $ 3.46 | $ 3.63 | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2 | 2 | 2 | ||||||||
Common Stock, Dividends, Per Share, Declared | $ 3.24 | $ 3.15 | $ 3.09 |
Common Stock Common Stock (Acce
Common Stock Common Stock (Accelerated Share Repurchase) (Details) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Apr. 30, 2015 | Dec. 31, 2015 | Apr. 06, 2015 | |
Accelerated Share Repurchases [Line Items] | ||||
Stock Repurchase Program, Authorized Amount | $ 1,500 | |||
Payments for Repurchase of Common Stock | $ 1,500 | $ 1,500 | ||
Stock Repurchased and Retired During Period, Shares | 3.2 | 16.6 | 19.8 | |
Stock Repurchased and Retired During Period, Value | $ 225 | $ 1,275 | $ 1,500 | |
Percentage of ASR common stock received | 85.00% | |||
Forward Contracts Indexed to Issuer's Equity, Value | $ 225 | |||
Accelerated Share Repurchases, Final Price Paid Per Share | $ 75.75 | |||
Goldman Sachs [Member] | ||||
Accelerated Share Repurchases [Line Items] | ||||
Payments for Repurchase of Common Stock | 750 | |||
JPMorgan Chase [Member] | ||||
Accelerated Share Repurchases [Line Items] | ||||
Payments for Repurchase of Common Stock | $ 750 |
Severance (Narrative) (Details)
Severance (Narrative) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2015Employees | Dec. 31, 2013USD ($) | |
2015 Severance Plan [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Number of eligible employees | Employees | 900 | |
Duke Energy Florida [Member] | Crystal River Unit 3 2013 Severance Plan [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Deferred severance costs | $ | $ 26 |
Severance (Expenses) (Details)
Severance (Expenses) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2013 | |
2015 Severance Plan [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | $ 142 | |
2015 Severance Plan [Member] | Duke Energy Carolinas [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 93 | |
2015 Severance Plan [Member] | Progress Energy [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 36 | |
2015 Severance Plan [Member] | Duke Energy Progress [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 28 | |
2015 Severance Plan [Member] | Duke Energy Florida [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 8 | |
2015 Severance Plan [Member] | Duke Energy Ohio [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 2 | |
2015 Severance Plan [Member] | Duke Energy Indiana [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | $ 6 | |
Severance Plan 2011 [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | $ 34 | |
Accelerated stock compensation expense | 5 | |
COBRA and healthcare expense reimbursement | 2 | |
Severance Plan 2011 [Member] | Duke Energy Carolinas [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 8 | |
Severance Plan 2011 [Member] | Progress Energy [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 19 | |
Severance Plan 2011 [Member] | Duke Energy Progress [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 14 | |
Severance Plan 2011 [Member] | Duke Energy Florida [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 5 | |
Severance Plan 2011 [Member] | Duke Energy Ohio [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | 2 | |
Severance Plan 2011 [Member] | Duke Energy Indiana [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Severance expense | $ 2 |
Severance (Rollforward) (Detail
Severance (Rollforward) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | $ 28 |
Provision/adjustments | 144 |
Cash reductions | (36) |
Balance, end of period | 136 |
Duke Energy Carolinas [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 2 |
Provision/adjustments | 80 |
Cash reductions | (4) |
Balance, end of period | 78 |
Progress Energy [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 18 |
Provision/adjustments | 20 |
Cash reductions | (15) |
Balance, end of period | 23 |
Duke Energy Progress [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 1 |
Provision/adjustments | 20 |
Cash reductions | (2) |
Balance, end of period | 19 |
Duke Energy Florida [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 17 |
Cash reductions | (13) |
Balance, end of period | $ 4 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares reserved for awards to employees and outside directors | 10 | ||
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum option term, years | 10 years | ||
Restricted Stock Units Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total grant date fair value of shares vested | $ 41 | $ 52 | $ 50 |
Unrecognized compensation cost | $ 19 | ||
Unrecognized compensation cost, period of recognition, years | 1 year 11 months | ||
Restricted Stock Units Awards [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Performance Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total grant date fair value of shares vested | $ 26 | $ 27 | $ 42 |
Unrecognized compensation cost | $ 22 | ||
Unrecognized compensation cost, period of recognition, years | 1 year 2 months | ||
Risk Free Interest Rate | 1.00% | ||
Expected Volatility Rate | 13.60% |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | $ 38 | $ 38 | $ 52 |
Pretax stock-based compensation expense | 61 | 61 | 85 |
Tax benefit associated with stock-based compensation expense | 23 | 23 | 33 |
Stock-based compensation costs capitalized | 3 | 4 | 3 |
Restricted Stock Units Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation expense | 38 | 39 | 49 |
Performance Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation expense | 23 | 22 | 34 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation expense | 2 | ||
Duke Energy Carolinas [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 14 | 12 | 13 |
Progress Energy [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 14 | 14 | 23 |
Duke Energy Progress [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 9 | 9 | 14 |
Duke Energy Florida [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 5 | 5 | 9 |
Duke Energy Ohio [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 2 | 5 | 4 |
Duke Energy Indiana [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | $ 4 | $ 3 | $ 4 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Options) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Stock Option Activity, Options [Roll Forward] | |||
Outstanding at beginning of period | 373 | ||
Granted | 310 | ||
Exercised | (270) | ||
Outstanding at end of period | 103 | 373 | |
Options expected to vest | 103 | ||
Stock Option Activity, Weighted Average Exercise Price [Roll Forward] | |||
Weighted average exercise price of options outstanding at beginning of period | $ 64 | ||
Exercised | 62 | ||
Weighted average exercise price of options outstanding end of period | 69 | $ 64 | |
Weighted average exercise price of options expected to vest | $ 69 | ||
Weighted-Average Remaining Life [Abstract] | |||
Weighted average remaining life of options outstanding at end of period, years | 7 years 2 months | ||
Weighted average remaining life of options expected to vest, years | 7 years 2 months | ||
Schedule Of Information Related To Stock Options [Abstract] | |||
Intrinsic value of options exercised | $ 5 | $ 6 | $ 26 |
Tax benefit related to options exercised | 2 | 2 | 10 |
Cash received from options exercised | $ 17 | $ 25 | $ 9 |
Stock options granted | 310 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary of Stock Awards Outstanding) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restricted Stock Units Awards [Member] | |||
Schedule Of Shares Awarded [Abstract] | |||
Shares awarded (in thousands) | 524 | 557 | 612 |
Fair value | $ 41 | $ 40 | $ 42 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Outstanding at beginning of period | 1,080 | ||
Granted | 524 | 557 | 612 |
Vested | (602) | ||
Forfeited | (49) | ||
Outstanding at end of period | 953 | 1,080 | |
Stock awards expected to vest | 924 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted average fair value at beginning of period | $ 69 | ||
Granted | 79 | ||
Vested | 68 | ||
Forfeited | 73 | ||
Weighted average fair value at end of period | 75 | $ 69 | |
Weighted average fair value of awards expected to vest | $ 75 | ||
Performance Awards [Member] | |||
Schedule Of Shares Awarded [Abstract] | |||
Shares awarded (in thousands) | 642 | 542 | 633 |
Fair value | $ 26 | $ 19 | $ 28 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Outstanding at beginning of period | 1,627 | ||
Granted | 642 | 542 | 633 |
Vested | (271) | ||
Forfeited | (301) | ||
Outstanding at end of period | 1,697 | 1,627 | |
Stock awards expected to vest | 1,301 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted average fair value at beginning of period | $ 42 | ||
Granted | 41 | ||
Vested | 51 | ||
Forfeited | 38 | ||
Weighted average fair value at end of period | 40 | $ 42 | |
Weighted average fair value of awards expected to vest | $ 40 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Maximum years of participation | 35 years | |
Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of securities on loan | $ 305 | $ 383 |
Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Qualified Pension Plans [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Master trust allocation percentage | 98.00% | |
Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 10 years | |
Other Post-Retirement Benefit Plans [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Master trust allocation percentage | 2.00% | |
Duke Energy Carolinas [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Duke Energy Carolinas [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Progress Energy [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Progress Energy [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 10 years | |
Duke Energy Progress [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Duke Energy Progress [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 12 years | |
Duke Energy Florida [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Duke Energy Florida [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 17 years | |
Duke Energy Ohio [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Duke Energy Ohio [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Duke Energy Indiana [Member] | Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years | |
Duke Energy Indiana [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Average remaining service period, in years | 7 years |
Employee Benefit Plans (Contrib
Employee Benefit Plans (Contributions to Defined Benefit Pension Plans) (Details) - Qualified Pension Plans [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | $ 302 | $ 250 |
Anticipated contribution | 145 | |
Duke Energy Carolinas [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 91 | |
Anticipated contribution | 43 | |
Progress Energy [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 83 | 250 |
Anticipated contribution | 43 | |
Duke Energy Progress [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 42 | 63 |
Anticipated contribution | 24 | |
Duke Energy Florida [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 40 | $ 133 |
Anticipated contribution | 20 | |
Duke Energy Ohio [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 8 | |
Anticipated contribution | 4 | |
Duke Energy Indiana [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 19 | |
Anticipated contribution | $ 9 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of Regulatory Asset | $ 9 | $ 10 | $ 12 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 159 | 135 | 167 |
Interest cost on projected benefit obligation | 324 | 344 | 320 |
Expected return on plan assets | (516) | (511) | (549) |
Amortization of actuarial loss (gain) | 166 | 150 | 244 |
Amortization of prior service cost (credit) | (15) | (15) | (11) |
Other | 8 | 8 | 7 |
Net periodic costs | 126 | 111 | 178 |
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 50 | 41 | 49 |
Interest cost on projected benefit obligation | 83 | 85 | 80 |
Expected return on plan assets | (139) | (132) | (148) |
Amortization of actuarial loss (gain) | 39 | 36 | 60 |
Amortization of prior service cost (credit) | (7) | (8) | (6) |
Other | 2 | 2 | 2 |
Net periodic costs | 28 | 24 | 37 |
Qualified Pension Plans [Member] | Progress Energy [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 44 | 40 | 60 |
Interest cost on projected benefit obligation | 104 | 112 | 116 |
Expected return on plan assets | (171) | (173) | (199) |
Amortization of actuarial loss (gain) | 65 | 68 | 101 |
Amortization of prior service cost (credit) | (3) | (3) | (4) |
Other | 3 | 3 | 2 |
Net periodic costs | 42 | 47 | 76 |
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 23 | 21 | 22 |
Interest cost on projected benefit obligation | 48 | 54 | 50 |
Expected return on plan assets | (79) | (85) | (94) |
Amortization of actuarial loss (gain) | 33 | 32 | 46 |
Amortization of prior service cost (credit) | (2) | (2) | (1) |
Other | 1 | 1 | 1 |
Net periodic costs | 24 | 21 | 24 |
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 20 | 20 | 30 |
Interest cost on projected benefit obligation | 54 | 57 | 53 |
Expected return on plan assets | (87) | (85) | (87) |
Amortization of actuarial loss (gain) | 31 | 32 | 49 |
Amortization of prior service cost (credit) | (1) | (1) | (2) |
Other | 1 | 1 | 1 |
Net periodic costs | 18 | 24 | 44 |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of Regulatory Asset | 4 | 5 | 6 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 4 | 4 | 6 |
Interest cost on projected benefit obligation | 18 | 20 | 21 |
Expected return on plan assets | (26) | (27) | (31) |
Amortization of actuarial loss (gain) | 7 | 4 | 13 |
Net periodic costs | 3 | 1 | 9 |
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 10 | 9 | 11 |
Interest cost on projected benefit obligation | 27 | 29 | 28 |
Expected return on plan assets | (42) | (41) | (46) |
Amortization of actuarial loss (gain) | 13 | 13 | 24 |
Amortization of prior service cost (credit) | 1 | 1 | |
Other | 1 | 1 | 1 |
Net periodic costs | 10 | 11 | 19 |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 3 | 3 | 3 |
Interest cost on projected benefit obligation | 13 | 14 | 13 |
Amortization of actuarial loss (gain) | 6 | 3 | 5 |
Amortization of prior service cost (credit) | (1) | (1) | (1) |
Net periodic costs | 21 | 19 | 20 |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Net periodic costs | 1 | 1 | 1 |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 4 | 5 | 7 |
Amortization of actuarial loss (gain) | 2 | 2 | 3 |
Amortization of prior service cost (credit) | (1) | (1) | (1) |
Net periodic costs | 6 | 7 | 10 |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | |
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Amortization of actuarial loss (gain) | 1 | 1 | |
Net periodic costs | 2 | 2 | 3 |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Interest cost on projected benefit obligation | 2 | 2 | 1 |
Amortization of actuarial loss (gain) | 2 | 1 | |
Net periodic costs | 4 | 2 | 2 |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Net periodic costs | 0 | 0 | 0 |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Amortization of actuarial loss (gain) | 1 | ||
Net periodic costs | 1 | 0 | 0 |
Other Post-Retirement Benefit Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of Regulatory Asset | 10 | 9 | 8 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 6 | 10 | 24 |
Interest cost on projected benefit obligation | 36 | 49 | 68 |
Expected return on plan assets | (13) | (13) | (14) |
Amortization of actuarial loss (gain) | 16 | 39 | 52 |
Amortization of prior service cost (credit) | (140) | (125) | (41) |
Net periodic costs | (95) | (40) | 89 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 2 | 2 |
Interest cost on projected benefit obligation | 9 | 12 | 13 |
Expected return on plan assets | (8) | (9) | (11) |
Amortization of actuarial loss (gain) | (2) | 3 | 3 |
Amortization of prior service cost (credit) | (14) | (11) | (7) |
Net periodic costs | (14) | (3) | 0 |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 4 | 18 |
Interest cost on projected benefit obligation | 15 | 22 | 41 |
Amortization of actuarial loss (gain) | 28 | 42 | 57 |
Amortization of prior service cost (credit) | (102) | (95) | (30) |
Net periodic costs | (58) | (27) | 86 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | 9 |
Interest cost on projected benefit obligation | 8 | 11 | 22 |
Amortization of actuarial loss (gain) | 18 | 31 | 34 |
Amortization of prior service cost (credit) | (68) | (73) | (20) |
Net periodic costs | (41) | (30) | 45 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 3 | 7 |
Interest cost on projected benefit obligation | 7 | 12 | 16 |
Amortization of actuarial loss (gain) | 10 | 10 | 16 |
Amortization of prior service cost (credit) | (35) | (21) | (6) |
Net periodic costs | (17) | 4 | 33 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of Regulatory Asset | 3 | 2 | 2 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | ||
Interest cost on projected benefit obligation | 2 | 2 | 2 |
Expected return on plan assets | (1) | (1) | |
Amortization of actuarial loss (gain) | (2) | (2) | (1) |
Amortization of prior service cost (credit) | (1) | ||
Net periodic costs | (1) | 0 | 0 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 4 | 5 | 5 |
Expected return on plan assets | (1) | (1) | (1) |
Amortization of actuarial loss (gain) | (2) | 1 | |
Net periodic costs | $ 2 | $ 5 | $ 6 |
Employee Benefit Plans (Amounts
Employee Benefit Plans (Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax benefit (expense) | $ 17 | |||
Net amount recognized in accumulated other comprehensive (income) loss | [1] | $ 13 | $ (4) | (38) |
Progress Energy [Member] | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive (income) loss | 10 | (9) | (9) | |
Duke Energy Ohio [Member] | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive (income) loss | $ (1) | |||
Other Post-Retirement Benefit Plans [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 1 | 162 | ||
Regulatory liabilities, net increase (decrease) | (92) | 249 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax benefit (expense) | 2 | 1 | ||
Actuarial (gains) losses arising during the year | (5) | 1 | ||
Prior year service cost (credit) arising during the year | (6) | |||
Defined Benefit Plan Amounts Transferred with Disposal Group | (3) | |||
Amortization of Prior Year Prior Service Credit | 3 | 2 | ||
Net amount recognized in accumulated other comprehensive (income) loss | (3) | (2) | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 34 | |||
Regulatory liabilities, net increase (decrease) | (8) | 76 | ||
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 1 | 129 | ||
Regulatory liabilities, net increase (decrease) | (71) | 122 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax benefit (expense) | (1) | 1 | ||
Actuarial (gains) losses arising during the year | 2 | (2) | ||
Amortization of Prior Year Prior Service Credit | (1) | |||
Net amount recognized in accumulated other comprehensive (income) loss | (1) | |||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 97 | |||
Regulatory liabilities, net increase (decrease) | (36) | 61 | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 1 | (4) | ||
Regulatory liabilities, net increase (decrease) | (35) | 61 | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory liabilities, net increase (decrease) | 2 | (2) | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (7) | (7) | ||
Regulatory liabilities, net increase (decrease) | (8) | 14 | ||
Qualified Pension Plans [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 173 | 112 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax benefit (expense) | 6 | (10) | ||
Actuarial (gains) losses arising during the year | 4 | 29 | ||
Amortization of prior year actuarial gains (losses) | (11) | (9) | ||
Defined Benefit Plan Amounts Transferred with Disposal Group | 3 | |||
Amortization of Prior Year Prior Service Credit | 1 | |||
Reclassification of actuarial gains (losses) to regulatory assets | (6) | (1) | ||
Net amount recognized in accumulated other comprehensive (income) loss | (3) | 9 | ||
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 65 | 30 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||
Qualified Pension Plans [Member] | Progress Energy [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 18 | (73) | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax benefit (expense) | 5 | (2) | ||
Amortization of prior year actuarial gains (losses) | (4) | |||
Net amount recognized in accumulated other comprehensive (income) loss | 1 | (2) | ||
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 14 | (17) | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 4 | 11 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 14 | 17 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 11 | 4 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||
Non Qualified Pension Plans [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (13) | 44 | ||
Regulatory liabilities, net increase (decrease) | (7) | |||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax benefit (expense) | (7) | 4 | ||
Actuarial (gains) losses arising during the year | 17 | (9) | ||
Prior year service cost (credit) arising during the year | 1 | |||
Net amount recognized in accumulated other comprehensive (income) loss | 11 | (5) | ||
Non Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 2 | 1 | ||
Non Qualified Pension Plans [Member] | Progress Energy [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (16) | 14 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax benefit (expense) | (5) | 5 | ||
Actuarial (gains) losses arising during the year | 13 | (11) | ||
Net amount recognized in accumulated other comprehensive (income) loss | 8 | (6) | ||
Non Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (1) | 4 | ||
Non Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (15) | 19 | ||
Non Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 1 | |||
Non Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | $ (1) | $ 2 | ||
[1] | Net of insignificant tax expense in 2015, 2014 and $17 million tax expense in 2013. See Note 21 for additional information. |
Employee Benefit Plans (Project
Employee Benefit Plans (Projected Benefit Obligations Reconciliation of Funded Status to Net Amount Recognized) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Pension Plan [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | $ 8,107 | $ 7,510 | |
Defined Benefit Plan, Other Changes | (83) | ||
Service cost | 159 | 135 | $ 167 |
Interest cost on projected benefit obligation | 324 | 344 | 320 |
Actuarial (gains) losses | (241) | 618 | |
Plan amendments | (6) | (4) | |
Benefits paid | (533) | (496) | |
Obligation at measurement date | 7,727 | 8,107 | 7,510 |
Accumulated benefit obligation at measurement date | 7,606 | 7,966 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 8,498 | 8,142 | |
Defined Benefit Plan, Divestitures, Plan Assets | (81) | ||
Actual return on plan assets | (50) | 852 | |
Benefits paid | (533) | (496) | |
Employer contributions | 302 | 250 | |
Plan assets at measurement date | 8,136 | 8,498 | 8,142 |
Funded status of plan | 409 | 391 | |
Pension Plan [Member] | Change in Assumptions for Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Actuarial (gains) losses | 180 | ||
Pension Plan [Member] | Duke Energy Carolinas [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 2,053 | 1,875 | |
Service cost | 50 | 41 | 49 |
Interest cost on projected benefit obligation | 83 | 85 | 80 |
Actuarial (gains) losses | (53) | 132 | |
Transfers of benefit obligation | 8 | 37 | |
Plan amendments | (1) | ||
Benefits paid | (146) | (116) | |
Obligation at measurement date | 1,995 | 2,053 | 1,875 |
Accumulated benefit obligation at measurement date | 1,993 | 2,052 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 2,300 | 2,162 | |
Actual return on plan assets | (10) | 217 | |
Benefits paid | (146) | (116) | |
Transfer of plan assets | 8 | 37 | |
Employer contributions | 91 | ||
Plan assets at measurement date | 2,243 | 2,300 | 2,162 |
Funded status of plan | 248 | 247 | |
Pension Plan [Member] | Progress Energy [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 2,557 | 2,739 | |
Service cost | 44 | 40 | 60 |
Interest cost on projected benefit obligation | 104 | 112 | 116 |
Actuarial (gains) losses | (111) | 211 | |
Transfers of benefit obligation | 4 | (375) | |
Benefits paid | (147) | (170) | |
Obligation at measurement date | 2,451 | 2,557 | 2,739 |
Accumulated benefit obligation at measurement date | 2,414 | 2,519 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 2,722 | 2,944 | |
Actual return on plan assets | (22) | 300 | |
Benefits paid | (147) | (170) | |
Transfer of plan assets | 4 | (352) | |
Employer contributions | 83 | 250 | |
Plan assets at measurement date | 2,640 | 2,722 | 2,944 |
Funded status of plan | 189 | 165 | |
Pension Plan [Member] | Duke Energy Progress [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,187 | 1,172 | |
Service cost | 23 | 21 | 22 |
Interest cost on projected benefit obligation | 48 | 54 | 50 |
Actuarial (gains) losses | (46) | 98 | |
Transfers of benefit obligation | 7 | (61) | |
Benefits paid | (76) | (97) | |
Obligation at measurement date | 1,143 | 1,187 | 1,172 |
Accumulated benefit obligation at measurement date | 1,143 | 1,187 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 1,321 | 1,330 | |
Actual return on plan assets | (10) | 149 | |
Benefits paid | (76) | (97) | |
Transfer of plan assets | 7 | (61) | |
Employer contributions | 42 | 63 | |
Plan assets at measurement date | 1,284 | 1,321 | 1,330 |
Funded status of plan | 141 | 134 | |
Pension Plan [Member] | Duke Energy Florida [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,335 | 1,233 | |
Service cost | 20 | 20 | 30 |
Interest cost on projected benefit obligation | 54 | 57 | 53 |
Actuarial (gains) losses | (62) | 105 | |
Transfers of benefit obligation | (3) | (9) | |
Benefits paid | (68) | (71) | |
Obligation at measurement date | 1,276 | 1,335 | 1,233 |
Accumulated benefit obligation at measurement date | 1,240 | 1,297 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 1,363 | 1,299 | |
Actual return on plan assets | (11) | 144 | |
Benefits paid | (68) | (71) | |
Transfer of plan assets | (3) | (9) | |
Employer contributions | 40 | 133 | |
Plan assets at measurement date | 1,321 | 1,363 | 1,299 |
Funded status of plan | 45 | 28 | |
Pension Plan [Member] | Duke Energy Ohio [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 469 | 442 | |
Service cost | 4 | 4 | 6 |
Interest cost on projected benefit obligation | 18 | 20 | 21 |
Actuarial (gains) losses | (9) | 41 | |
Transfers of benefit obligation | 8 | (6) | |
Plan amendments | (1) | ||
Benefits paid | (37) | (31) | |
Obligation at measurement date | 453 | 469 | 442 |
Accumulated benefit obligation at measurement date | 442 | 459 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 456 | 448 | |
Actual return on plan assets | (2) | 45 | |
Benefits paid | (37) | (31) | |
Transfer of plan assets | 8 | (6) | |
Employer contributions | 8 | ||
Plan assets at measurement date | 433 | 456 | 448 |
Funded status of plan | (20) | (13) | |
Pension Plan [Member] | Duke Energy Indiana [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 673 | 632 | |
Service cost | 10 | 9 | 11 |
Interest cost on projected benefit obligation | 27 | 29 | 28 |
Actuarial (gains) losses | (15) | 41 | |
Plan amendments | (4) | ||
Benefits paid | (42) | (38) | |
Obligation at measurement date | 649 | 673 | 632 |
Accumulated benefit obligation at measurement date | 628 | 645 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 681 | 654 | |
Actual return on plan assets | (3) | 65 | |
Benefits paid | (42) | (38) | |
Employer contributions | 19 | ||
Plan assets at measurement date | 655 | 681 | 654 |
Funded status of plan | 6 | 8 | |
Non Qualified Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 337 | 304 | |
Service cost | 3 | 3 | 3 |
Interest cost on projected benefit obligation | 13 | 14 | 13 |
Actuarial (gains) losses | 10 | 43 | |
Transfers of benefit obligation | 4 | ||
Benefits paid | (26) | (27) | |
Obligation at measurement date | 341 | 337 | 304 |
Accumulated benefit obligation at measurement date | 336 | 333 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | (26) | (27) | |
Employer contributions | 26 | 27 | |
Non Qualified Pension Plans [Member] | Change in Assumptions for Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Actuarial (gains) losses | 21 | ||
Non Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 16 | 15 | |
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Actuarial (gains) losses | 1 | 2 | |
Benefits paid | (2) | (2) | |
Obligation at measurement date | 16 | 16 | 15 |
Accumulated benefit obligation at measurement date | 16 | 15 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | (2) | (2) | |
Employer contributions | 2 | 2 | |
Non Qualified Pension Plans [Member] | Progress Energy [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 116 | 140 | |
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 4 | 5 | 7 |
Actuarial (gains) losses | (1) | 11 | |
Transfers of benefit obligation | (32) | ||
Benefits paid | (8) | (9) | |
Obligation at measurement date | 112 | 116 | 140 |
Accumulated benefit obligation at measurement date | 112 | 116 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | (8) | (9) | |
Employer contributions | 8 | 9 | |
Non Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 35 | 34 | |
Service cost | 1 | 1 | |
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Actuarial (gains) losses | 2 | ||
Benefits paid | (3) | (3) | |
Obligation at measurement date | 33 | 35 | 34 |
Accumulated benefit obligation at measurement date | 33 | 35 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | (3) | (3) | |
Employer contributions | 3 | 3 | |
Non Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 61 | 39 | |
Interest cost on projected benefit obligation | 2 | 2 | 1 |
Actuarial (gains) losses | (14) | 20 | |
Transfers of benefit obligation | 4 | ||
Benefits paid | (3) | (4) | |
Obligation at measurement date | 46 | 61 | 39 |
Accumulated benefit obligation at measurement date | 46 | 61 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | (3) | (4) | |
Employer contributions | 3 | 4 | |
Non Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 4 | 3 | |
Actuarial (gains) losses | 1 | ||
Obligation at measurement date | 4 | 4 | 3 |
Accumulated benefit obligation at measurement date | 4 | 4 | |
Non Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 5 | 5 | |
Actuarial (gains) losses | 1 | ||
Settlements | 0 | ||
Benefits paid | (1) | ||
Obligation at measurement date | 5 | 5 | 5 |
Accumulated benefit obligation at measurement date | 5 | 5 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | (1) | ||
Employer contributions | 1 | ||
Other Post-Retirement Benefit Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 916 | 1,106 | |
Defined Benefit Plan, Other Changes | (3) | ||
Service cost | 6 | 10 | 24 |
Interest cost on projected benefit obligation | 36 | 49 | 68 |
Plan participants' contributions | 20 | 25 | |
Actuarial (gains) losses | (39) | (87) | |
Plan amendments | (9) | (85) | |
Benefits paid | (100) | (103) | |
Accrued retiree drug subsidy | 1 | 1 | |
Obligation at measurement date | 828 | 916 | 1,106 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 227 | 214 | |
Actual return on plan assets | (1) | 18 | |
Benefits paid | (100) | (103) | |
Employer contributions | 62 | 73 | |
Plan participants' contributions | 20 | 25 | |
Plan assets at measurement date | 208 | 227 | 214 |
Other Post-Retirement Benefit Plans [Member] | Change in Assumptions for Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Actuarial (gains) losses | 7 | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 220 | 265 | |
Service cost | 1 | 2 | 2 |
Interest cost on projected benefit obligation | 9 | 12 | 13 |
Plan participants' contributions | 4 | 10 | |
Actuarial (gains) losses | (18) | (35) | |
Transfers of benefit obligation | 2 | 1 | |
Plan amendments | (4) | ||
Benefits paid | (18) | (31) | |
Obligation at measurement date | 200 | 220 | 265 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 145 | 143 | |
Actual return on plan assets | (1) | 12 | |
Benefits paid | (18) | (31) | |
Transfer of plan assets | (1) | ||
Employer contributions | 4 | 12 | |
Plan participants' contributions | 4 | 10 | |
Plan assets at measurement date | 134 | 145 | 143 |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 379 | 533 | |
Service cost | 1 | 4 | 18 |
Interest cost on projected benefit obligation | 15 | 22 | 41 |
Plan participants' contributions | 7 | 8 | |
Actuarial (gains) losses | $ (1) | (19) | |
Transfers of benefit obligation | (48) | ||
Plan amendments | (77) | ||
Benefits paid | $ (47) | (44) | |
Obligation at measurement date | 354 | 379 | 533 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Actual return on plan assets | 1 | ||
Benefits paid | (47) | (44) | |
Employer contributions | 39 | 36 | |
Plan participants' contributions | 7 | 8 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 207 | 233 | |
Service cost | 1 | 1 | 9 |
Interest cost on projected benefit obligation | 8 | 11 | 22 |
Plan participants' contributions | 4 | 4 | |
Actuarial (gains) losses | $ (13) | (21) | |
Transfers of benefit obligation | $ (2) | ||
Plan amendments | |||
Benefits paid | $ (19) | $ (19) | |
Obligation at measurement date | 188 | 207 | 233 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | (1) | ||
Actual return on plan assets | 1 | ||
Benefits paid | (19) | (19) | |
Employer contributions | 15 | 14 | |
Plan participants' contributions | 4 | 4 | |
Plan assets at measurement date | (1) | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 170 | 253 | |
Service cost | 1 | 3 | 7 |
Interest cost on projected benefit obligation | 7 | 12 | 16 |
Plan participants' contributions | 3 | 4 | |
Actuarial (gains) losses | 11 | ||
Plan amendments | (78) | ||
Benefits paid | (28) | (24) | |
Obligation at measurement date | 164 | 170 | 253 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Actual return on plan assets | 1 | ||
Benefits paid | (28) | (24) | |
Employer contributions | 25 | 20 | |
Plan participants' contributions | 3 | 4 | |
Plan assets at measurement date | 1 | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 39 | 42 | |
Service cost | 1 | ||
Interest cost on projected benefit obligation | 2 | 2 | 2 |
Plan participants' contributions | 1 | ||
Actuarial (gains) losses | (3) | ||
Transfers of benefit obligation | (1) | ||
Plan amendments | (1) | (1) | |
Benefits paid | (3) | (3) | |
Obligation at measurement date | 35 | 39 | 42 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 8 | 8 | |
Benefits paid | (3) | (3) | |
Employer contributions | 2 | 3 | |
Plan participants' contributions | 1 | ||
Plan assets at measurement date | 8 | 8 | 8 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 96 | 118 | |
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 4 | 5 | 5 |
Plan participants' contributions | 2 | 2 | |
Actuarial (gains) losses | 1 | (20) | |
Plan amendments | (4) | ||
Benefits paid | (13) | (10) | |
Obligation at measurement date | 87 | 96 | 118 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 23 | 18 | |
Actual return on plan assets | (1) | 2 | |
Benefits paid | (13) | (10) | |
Employer contributions | 8 | 11 | |
Plan participants' contributions | 2 | 2 | |
Plan assets at measurement date | $ 19 | $ 23 | $ 18 |
Employee Benefit Plans (Amou137
Employee Benefit Plans (Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | $ 1,088 | $ 1,145 |
Regulatory assets | 12,250 | 12,157 |
Regulatory liabilities | 6,655 | 6,397 |
Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 107 | 111 |
Regulatory assets | 3,071 | 2,864 |
Regulatory liabilities | 2,841 | 2,744 |
Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 536 | 533 |
Regulatory assets | 5,797 | 5,899 |
Regulatory liabilities | 2,673 | 2,485 |
Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 262 | 290 |
Regulatory assets | 2,974 | 2,962 |
Regulatory liabilities | 1,963 | 1,903 |
Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 242 | 221 |
Regulatory assets | 2,823 | 2,936 |
Regulatory liabilities | 709 | 582 |
Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 56 | 48 |
Regulatory assets | 533 | 561 |
Regulatory liabilities | 257 | 251 |
Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 80 | 82 |
Regulatory assets | 818 | 778 |
Regulatory liabilities | 816 | 850 |
Pension Plan [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 474 | 441 |
Noncurrent pension liability | 65 | 50 |
Net amount recognized | 409 | 391 |
Regulatory assets | 1,884 | 1,711 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | (45) | (51) |
Prior year service cost (credit) arising during the year | (4) | (5) |
Net actuarial loss (gain) | 130 | 140 |
Net amount recognized in accumulated other comprehensive income (loss) | 81 | 84 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 132 | |
Unrecognized prior service (credit) cost | (16) | |
Pension Plan [Member] | Brazilian Retirement Plan [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Net amount recognized in accumulated other comprehensive income (loss) | 13 | 22 |
Pension Plan [Member] | Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 252 | 247 |
Noncurrent pension liability | 4 | |
Net amount recognized | 248 | 247 |
Regulatory assets | 472 | 407 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 31 | |
Unrecognized prior service (credit) cost | (8) | |
Pension Plan [Member] | Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 232 | 165 |
Noncurrent pension liability | 43 | |
Net amount recognized | 189 | 165 |
Regulatory assets | 771 | 753 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | (6) | (11) |
Net actuarial loss (gain) | 17 | 21 |
Net amount recognized in accumulated other comprehensive income (loss) | 11 | 10 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 59 | |
Unrecognized prior service (credit) cost | (3) | |
Pension Plan [Member] | Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 145 | 134 |
Noncurrent pension liability | 4 | |
Net amount recognized | 141 | 134 |
Regulatory assets | 360 | 346 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 25 | |
Unrecognized prior service (credit) cost | (2) | |
Pension Plan [Member] | Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 84 | 28 |
Noncurrent pension liability | 39 | |
Net amount recognized | 45 | 28 |
Regulatory assets | 410 | $ 406 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 31 | |
Unrecognized prior service (credit) cost | (1) | |
Pension Plan [Member] | Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 1 | |
Noncurrent pension liability | 21 | $ 13 |
Net amount recognized | (20) | (13) |
Regulatory assets | 79 | 65 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 4 | |
Pension Plan [Member] | Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 6 | 8 |
Net amount recognized | 6 | 8 |
Regulatory assets | 162 | 151 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 11 | |
Non-Qualified Pension Plans [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 27 | 27 |
Noncurrent pension liability | 314 | 310 |
Total accrued pension liability | 341 | 337 |
Regulatory assets | 76 | 89 |
Regulatory liabilities | 0 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | (3) | 4 |
Prior year service cost (credit) arising during the year | (1) | |
Net actuarial loss (gain) | 9 | (8) |
Net amount recognized in accumulated other comprehensive income (loss) | 6 | (5) |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 8 | |
Unrecognized prior service (credit) cost | (1) | |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 2 | 2 |
Noncurrent pension liability | 14 | 14 |
Total accrued pension liability | 16 | 16 |
Regulatory assets | 7 | 5 |
Regulatory liabilities | 0 | |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 8 | 8 |
Noncurrent pension liability | 104 | 108 |
Total accrued pension liability | 112 | 116 |
Regulatory assets | 16 | 32 |
Regulatory liabilities | 0 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | (3) | 2 |
Net actuarial loss (gain) | 9 | (4) |
Net amount recognized in accumulated other comprehensive income (loss) | 6 | (2) |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 1 | |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 3 | 3 |
Noncurrent pension liability | 30 | 32 |
Total accrued pension liability | 33 | 35 |
Regulatory assets | 6 | 7 |
Regulatory liabilities | 0 | |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 3 | 4 |
Noncurrent pension liability | 43 | 57 |
Total accrued pension liability | 46 | 61 |
Regulatory assets | 10 | 25 |
Regulatory liabilities | 0 | |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 0 | |
Noncurrent pension liability | 4 | 4 |
Total accrued pension liability | 4 | 4 |
Regulatory assets | 1 | 1 |
Regulatory liabilities | 0 | |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 0 | |
Noncurrent pension liability | 5 | 5 |
Total accrued pension liability | 5 | 5 |
Regulatory assets | 1 | 2 |
Regulatory liabilities | 0 | |
Other Post-Retirement Benefit Plans [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 37 | 35 |
Noncurrent pension liability | 583 | 654 |
Total accrued pension liability | 620 | 689 |
Regulatory assets | 1 | |
Regulatory liabilities | 288 | 380 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 7 | 5 |
Prior year service cost (credit) arising during the year | (6) | (9) |
Net actuarial loss (gain) | (13) | (5) |
Net amount recognized in accumulated other comprehensive income (loss) | (12) | (9) |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 6 | |
Unrecognized prior service (credit) cost | (142) | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 66 | 75 |
Total accrued pension liability | 66 | 75 |
Regulatory liabilities | 68 | 76 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | (3) | |
Unrecognized prior service (credit) cost | (14) | |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 31 | 29 |
Noncurrent pension liability | 323 | 350 |
Total accrued pension liability | 354 | 379 |
Regulatory assets | 1 | |
Regulatory liabilities | 51 | 122 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 1 | |
Prior year service cost (credit) arising during the year | (1) | |
Net actuarial loss (gain) | (2) | |
Net amount recognized in accumulated other comprehensive income (loss) | (1) | (1) |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 22 | |
Unrecognized prior service (credit) cost | (103) | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 16 | 16 |
Noncurrent pension liability | 172 | 192 |
Total accrued pension liability | 188 | 208 |
Regulatory liabilities | 25 | 61 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 13 | |
Unrecognized prior service (credit) cost | (68) | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 15 | 14 |
Noncurrent pension liability | 149 | 156 |
Total accrued pension liability | 164 | 170 |
Regulatory assets | 1 | |
Regulatory liabilities | 26 | 61 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 9 | |
Unrecognized prior service (credit) cost | (35) | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 2 | 2 |
Noncurrent pension liability | 25 | 29 |
Total accrued pension liability | 27 | 31 |
Regulatory liabilities | 21 | 19 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | (2) | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 68 | 73 |
Total accrued pension liability | 68 | 73 |
Regulatory assets | 57 | 64 |
Regulatory liabilities | 83 | $ 91 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | (2) | |
Unrecognized prior service (credit) cost | $ (1) |
Employee Benefit Plans (Informa
Employee Benefit Plans (Information For Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Qualified Pension Plans [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | $ 1,216 | $ 702 |
Accumulated benefit obligation | 1,158 | 672 |
Fair value of plan assets | 1,151 | 652 |
Qualified Pension Plans [Member] | Progress Energy [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 611 | |
Accumulated benefit obligation | 575 | |
Fair value of plan assets | 574 | |
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 611 | |
Accumulated benefit obligation | 575 | |
Fair value of plan assets | 574 | |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 307 | 315 |
Accumulated benefit obligation | 298 | 306 |
Fair value of plan assets | 289 | 302 |
Non-Qualified Pension Plans [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 341 | 337 |
Accumulated benefit obligation | 336 | 333 |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 16 | 16 |
Accumulated benefit obligation | 16 | 15 |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 112 | 116 |
Accumulated benefit obligation | 112 | 116 |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 33 | 35 |
Accumulated benefit obligation | 33 | 35 |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 46 | 61 |
Accumulated benefit obligation | 46 | 61 |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 4 | 4 |
Accumulated benefit obligation | 4 | 4 |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 5 | 5 |
Accumulated benefit obligation | $ 5 | $ 5 |
Employee Benefit Plans (Assumpt
Employee Benefit Plans (Assumptions Used For Pension Benefits Accounting) (Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Qualified Pension Plans [Member] | |||
Benefit Obligations [Abstract] | |||
Discount rate | 4.40% | 4.10% | 4.70% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.10% | 4.70% | 4.10% |
Expected long-term rate of return on plan assets | 6.50% | 6.75% | 7.75% |
Qualified Pension Plans [Member] | Minimum [Member] | |||
Benefit Obligations [Abstract] | |||
Salary increase | 4.00% | 4.00% | 4.00% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | |||
Salary increase | 4.00% | 4.00% | 4.00% |
Expected long-term rate of return on plan assets | |||
Qualified Pension Plans [Member] | Maximum [Member] | |||
Benefit Obligations [Abstract] | |||
Salary increase | 4.40% | 4.40% | 4.40% |
Net Periodic Benefit Cost [Abstract] | |||
Salary increase | 4.40% | 4.40% | 4.30% |
Non-Qualified Pension Plans [Member] | |||
Benefit Obligations [Abstract] | |||
Discount rate | 4.40% | 4.10% | 4.70% |
Salary increase | 4.40% | 4.40% | 4.40% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.10% | 4.70% | 4.10% |
Salary increase | 4.40% | 4.40% | 4.30% |
Other Post-Retirement Benefit Plans [Member] | |||
Benefit Obligations [Abstract] | |||
Discount rate | 4.40% | 4.10% | 4.70% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.10% | 4.70% | 4.10% |
Expected long-term rate of return on plan assets | 6.50% | 6.75% | 7.75% |
Assumed tax rate | 35.00% | 35.00% | 35.00% |
Employee Benefit Plans (Assumed
Employee Benefit Plans (Assumed Health Care Cost Trend Rates) (Details) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Health care cost trend rate assumed for next year | 7.50% | 6.75% |
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 4.75% | 4.75% |
Year that the rate reaches the ultimate trend rate | 2,023 | 2,023 |
Employee Benefit Plans (Sensiti
Employee Benefit Plans (Sensitivity to Changes in Assumed Health Care Cost Trend Rates) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | $ 2 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 29 |
Effect on total service and interest costs - 1 Percentage Point Decrease | (1) |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (26) |
Duke Energy Carolinas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 7 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (6) |
Progress Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 12 |
Effect on total service and interest costs - 1 Percentage Point Decrease | (1) |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (11) |
Duke Energy Progress [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 6 |
Effect on total service and interest costs - 1 Percentage Point Decrease | (1) |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (6) |
Duke Energy Florida [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 6 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (5) |
Duke Energy Ohio [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (1) |
Duke Energy Indiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 3 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | $ (3) |
Employee Benefit Plans (Expecte
Employee Benefit Plans (Expected Benefit Payments) (Details) $ in Millions | Dec. 31, 2015USD ($) |
Qualified Pension Plans [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | $ 628 |
2,017 | 639 |
2,018 | 640 |
2,019 | 643 |
2,020 | 641 |
2021-2025 | 3,053 |
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 189 |
2,017 | 199 |
2,018 | 203 |
2,019 | 202 |
2,020 | 201 |
2021-2025 | 906 |
Qualified Pension Plans [Member] | Progress Energy [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 164 |
2,017 | 167 |
2,018 | 169 |
2,019 | 171 |
2,020 | 174 |
2021-2025 | 869 |
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 91 |
2,017 | 92 |
2,018 | 92 |
2,019 | 91 |
2,020 | 92 |
2021-2025 | 438 |
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 71 |
2,017 | 73 |
2,018 | 75 |
2,019 | 77 |
2,020 | 80 |
2021-2025 | 420 |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 35 |
2,017 | 35 |
2,018 | 34 |
2,019 | 34 |
2,020 | 35 |
2021-2025 | 171 |
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 48 |
2,017 | 47 |
2,018 | 47 |
2,019 | 47 |
2,020 | 47 |
2021-2025 | 230 |
Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 28 |
2,017 | 29 |
2,018 | 25 |
2,019 | 26 |
2,020 | 25 |
2021-2025 | 126 |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 2 |
2,017 | 2 |
2,018 | 2 |
2,019 | 2 |
2,020 | 2 |
2021-2025 | 9 |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 8 |
2,017 | 8 |
2,018 | 8 |
2,019 | 8 |
2,020 | 8 |
2021-2025 | 38 |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 3 |
2,017 | 3 |
2,018 | 3 |
2,019 | 3 |
2,020 | 3 |
2021-2025 | 12 |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 3 |
2,017 | 3 |
2,018 | 3 |
2,019 | 3 |
2,020 | 3 |
2021-2025 | 16 |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2021-2025 | 1 |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,020 | 1 |
2021-2025 | 2 |
Other Post-Retirement Benefit Plans [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 76 |
2,017 | 76 |
2,018 | 74 |
2,019 | 73 |
2,020 | 71 |
2021-2025 | 312 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 16 |
2,017 | 17 |
2,018 | 18 |
2,019 | 18 |
2,020 | 18 |
2021-2025 | 80 |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 31 |
2,017 | 31 |
2,018 | 30 |
2,019 | 29 |
2,020 | 29 |
2021-2025 | 129 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 16 |
2,017 | 16 |
2,018 | 16 |
2,019 | 15 |
2,020 | 15 |
2021-2025 | 68 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 15 |
2,017 | 15 |
2,018 | 14 |
2,019 | 14 |
2,020 | 13 |
2021-2025 | 60 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 4 |
2,017 | 3 |
2,018 | 3 |
2,019 | 3 |
2,020 | 3 |
2021-2025 | 14 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2,016 | 10 |
2,017 | 10 |
2,018 | 9 |
2,019 | 9 |
2,020 | 8 |
2021-2025 | $ 33 |
Employee Benefit Plans (Target
Employee Benefit Plans (Target and Actual Asset Allocations) (Details) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 100.00% | 100.00% |
Target allocation | 100.00% | |
Master Trust [Member] | US Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 11.00% | 10.00% |
Target allocation | 10.00% | |
Master Trust [Member] | Non US Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 8.00% | 8.00% |
Target allocation | 8.00% | |
Master Trust [Member] | Global Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 10.00% | 10.00% |
Target allocation | 10.00% | |
Master Trust [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 63.00% | 63.00% |
Target allocation | 63.00% | |
Master Trust [Member] | Global Private Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 2.00% | 3.00% |
Target allocation | 3.00% | |
Master Trust [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 2.00% | 3.00% |
Target allocation | 2.00% | |
Master Trust [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 2.00% | 1.00% |
Target allocation | 2.00% | |
Master Trust [Member] | Other Global Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 2.00% | 2.00% |
Target allocation | 2.00% | |
VEBA I [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 100.00% | 100.00% |
Target allocation | 100.00% | |
VEBA I [Member] | US Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 29.00% | 29.00% |
Target allocation | 30.00% | |
VEBA I [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 43.00% | 43.00% |
Target allocation | 25.00% | |
VEBA I [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 28.00% | 28.00% |
Target allocation | 45.00% |
Employee Benefit Plans (Fair Va
Employee Benefit Plans (Fair Value Measurements of Plan Assets - Master Retirement Trust) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | $ 8,243 | $ 8,618 |
Master Trust [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1,636 | 1,816 |
Master Trust [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 5,375 | 5,502 |
Master Trust [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 31 | 34 |
Master Trust [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1,201 | 1,266 |
Master Trust [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 2,160 | 2,346 |
Master Trust [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1,470 | 1,625 |
Master Trust [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 2 | 3 |
Master Trust [Member] | Equity Securities [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 688 | 718 |
Master Trust [Member] | Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 4,362 | 4,349 |
Master Trust [Member] | Corporate Debt Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 4,362 | 4,348 |
Master Trust [Member] | Corporate Debt Securities [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1 | |
Master Trust [Member] | Short Term Investments [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 404 | 333 |
Master Trust [Member] | Short Term Investments [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 192 | 171 |
Master Trust [Member] | Short Term Investments [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 212 | 162 |
Master Trust [Member] | Partnership Interest [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 185 | 298 |
Master Trust [Member] | Partnership Interest [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 185 | 298 |
Master Trust [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 210 | 146 |
Master Trust [Member] | Hedge Funds [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 210 | 146 |
Master Trust [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 118 | 104 |
Master Trust [Member] | Real Estate [Member] | Fair Value, Inputs, Not Categorized [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 118 | 104 |
Master Trust [Member] | US Treasury and Government [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 748 | 917 |
Master Trust [Member] | US Treasury and Government [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 748 | 916 |
Master Trust [Member] | US Treasury and Government [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1 | |
Master Trust [Member] | Guaranteed Investment Contracts [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 31 | 32 |
Master Trust [Member] | Guaranteed Investment Contracts [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 31 | 32 |
Master Trust [Member] | Government Bonds - Foreign [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 34 | 44 |
Master Trust [Member] | Government Bonds - Foreign [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 34 | 44 |
Master Trust [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 10 | 30 |
Master Trust [Member] | Cash and Cash Equivalents [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 10 | 30 |
Master Trust [Member] | Asset Backed Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 9 | 9 |
Master Trust [Member] | Asset Backed Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 9 | 9 |
Master Trust [Member] | Miscellaneous Investments And Other [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | (28) | 10 |
Master Trust [Member] | Miscellaneous Investments And Other [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | (36) | (10) |
Master Trust [Member] | Miscellaneous Investments And Other [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 8 | 20 |
VEBA I [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 42 | 48 |
VEBA I [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 42 | 48 |
VEBA I [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 12 | 14 |
VEBA I [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 12 | 14 |
VEBA I [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 18 | 21 |
VEBA I [Member] | Cash and Cash Equivalents [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 18 | 21 |
VEBA I [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 12 | 13 |
VEBA I [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | $ 12 | $ 13 |
Duke Energy Carolinas [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 28.00% | 28.00% |
Progress Energy [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 32.00% | 31.00% |
Duke Energy Progress [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 15.00% | 15.00% |
Duke Energy Florida [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 16.00% | 16.00% |
Duke Energy Ohio [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 5.00% | 5.00% |
Duke Energy Indiana [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 8.00% | 8.00% |
Employee Benefit Plans (Reconci
Employee Benefit Plans (Reconciliation of Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 4 | $ 33 |
Purchases | 24 | 50 |
Sales | (1) | (15) |
Total gains (losses) and other, net | 21 | (7) |
Ending balance | 15 | 4 |
Master Trust [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 34 | 37 |
Sales | (2) | (4) |
Total gains (losses) and other, net | (1) | 1 |
Ending balance | $ 31 | $ 34 |
Employee Benefit Plans (Employe
Employee Benefit Plans (Employee Savings Plans)(Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Employee Savings Plans [Abstract] | |||
Matching contribution percentage | 100.00% | ||
Eligible pay percentage | 6.00% | ||
Additional contribution percentage for employees not participating in defined pension plans | 4.00% | ||
Pretax employer matching contributions | $ 159 | $ 143 | $ 134 |
Duke Energy Carolinas [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 54 | 47 | 45 |
Progress Energy [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 48 | 43 | 45 |
Duke Energy Progress [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 34 | 30 | 25 |
Duke Energy Florida [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 13 | 14 | 14 |
Duke Energy Ohio [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 3 | 3 | 3 |
Duke Energy Indiana [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | $ 7 | $ 7 | $ 7 |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | $ (141) | ||
Current state taxes | $ (12) | $ 56 | (40) |
Current foreign taxes | 99 | 144 | 151 |
Total current income taxes | 87 | 200 | (30) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 1,089 | 1,517 | 1,092 |
Deferred state taxes | 181 | 35 | 144 |
Deferred foreign taxes | (17) | (67) | 14 |
Total deferred income taxes | 1,253 | 1,485 | 1,250 |
Investment tax credit amortization | (14) | (16) | (15) |
Income tax expense (benefit) from continuing operations | 1,326 | 1,669 | 1,205 |
Tax expense (benefit) from discontinued operations | 19 | (295) | 29 |
Total income tax expense included in Consolidated Statements of Operations | 1,345 | 1,374 | 1,234 |
Net operating loss utilization | 1,544 | ||
Net operating loss carry forward | 264 | 808 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Domestic | 3,828 | 3,600 | 3,183 |
Foreign | 309 | 534 | 612 |
Total income (loss) from continuing operations before income taxes | 4,137 | 4,134 | 3,795 |
Duke Energy Carolinas [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | 216 | 161 | 49 |
Current state taxes | 14 | 51 | 11 |
Total current income taxes | 230 | 212 | 60 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 345 | 407 | 464 |
Deferred state taxes | 57 | (25) | 75 |
Total deferred income taxes | 402 | 382 | 539 |
Investment tax credit amortization | (5) | (6) | (5) |
Income tax expense (benefit) from continuing operations | 627 | 588 | 594 |
Total income tax expense included in Consolidated Statements of Operations | 627 | 588 | 594 |
Net operating loss utilization | 345 | ||
Net operating loss carry forward | 15 | ||
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 1,708 | 1,660 | 1,570 |
Progress Energy [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (193) | (466) | (221) |
Current state taxes | 1 | (8) | (37) |
Total current income taxes | (192) | (474) | (258) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 694 | 938 | 555 |
Deferred state taxes | 27 | 84 | 84 |
Total deferred income taxes | 721 | 1,022 | 639 |
Investment tax credit amortization | (7) | (8) | (8) |
Income tax expense (benefit) from continuing operations | 522 | 540 | 373 |
Tax expense (benefit) from discontinued operations | (1) | (4) | (26) |
Total income tax expense included in Consolidated Statements of Operations | 521 | 536 | 347 |
Net operating loss utilization | 530 | ||
Net operating loss carry forward | 119 | 458 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 1,587 | 1,420 | 1,032 |
Duke Energy Progress [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (56) | (184) | (70) |
Current state taxes | (4) | 14 | (10) |
Total current income taxes | (60) | (170) | (80) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 334 | 436 | 316 |
Deferred state taxes | 27 | 25 | 59 |
Total deferred income taxes | 361 | 461 | 375 |
Investment tax credit amortization | (7) | (6) | (7) |
Income tax expense (benefit) from continuing operations | 294 | 285 | 288 |
Total income tax expense included in Consolidated Statements of Operations | 294 | 285 | 288 |
Net operating loss utilization | 291 | ||
Net operating loss carry forward | 21 | 64 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 860 | 752 | 788 |
Duke Energy Florida [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | 1 | (53) | (143) |
Current state taxes | (7) | 1 | (13) |
Total current income taxes | (6) | (52) | (156) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 290 | 350 | 326 |
Deferred state taxes | 58 | 52 | 44 |
Total deferred income taxes | 348 | 402 | 370 |
Investment tax credit amortization | (1) | (1) | |
Income tax expense (benefit) from continuing operations | 342 | 349 | 213 |
Total income tax expense included in Consolidated Statements of Operations | 342 | 349 | 213 |
Net operating loss utilization | 64 | ||
Net operating loss carry forward | 84 | 301 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 941 | 897 | 538 |
Duke Energy Ohio [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (18) | (73) | (24) |
Current state taxes | (1) | 3 | (4) |
Total current income taxes | (19) | (70) | (28) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 96 | 113 | 65 |
Deferred state taxes | 5 | 1 | 6 |
Total deferred income taxes | 101 | 114 | 71 |
Investment tax credit amortization | (1) | (1) | |
Income tax expense (benefit) from continuing operations | 81 | 43 | 43 |
Tax expense (benefit) from discontinued operations | 22 | (300) | 32 |
Total income tax expense included in Consolidated Statements of Operations | 103 | (257) | 75 |
Net operating loss utilization | 56 | ||
Net operating loss carry forward | 3 | ||
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 230 | 111 | 110 |
Duke Energy Indiana [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (86) | (112) | (88) |
Current state taxes | (12) | 1 | 7 |
Total current income taxes | (98) | (111) | (81) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 245 | 294 | 276 |
Deferred state taxes | 17 | 15 | 29 |
Total deferred income taxes | 262 | 309 | 305 |
Investment tax credit amortization | (1) | (1) | (1) |
Income tax expense (benefit) from continuing operations | 163 | 197 | 223 |
Total income tax expense included in Consolidated Statements of Operations | 163 | 197 | 223 |
Net operating loss utilization | 141 | ||
Net operating loss carry forward | 45 | 179 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | $ 479 | $ 556 | $ 581 |
Income Taxes (Effective Tax Rat
Income Taxes (Effective Tax Rates) (Details) - USD ($) $ in Millions | 12 Months Ended | 96 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2022 | |
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | $ 1,448 | $ 1,447 | $ 1,328 | |
State income tax, net of federal income tax effect | 109 | 59 | 66 | |
Tax differential on foreign earnings | (27) | (110) | (49) | |
AFUDC equity income | (58) | (47) | (55) | |
Renewable energy production tax credits | (72) | (67) | (62) | |
International Tax Dividend | 373 | |||
Audit Adjustment | (22) | |||
Tax true-up | 2 | |||
Other items, net | (54) | 14 | (23) | |
Income tax expense (benefit) from continuing operations | $ 1,326 | $ 1,669 | $ 1,205 | |
Effective tax rate | 32.10% | 40.40% | 31.80% | |
Foreign Earnings of Subsidiaries | ||||
Undistributed Earnings of Foreign Subsidiaries | $ 250 | |||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | 12 | |||
Foreign Jurisdictions [Member] | Merger of Subsidiaries [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense (benefit) from continuing operations | $ (57) | |||
Duke Energy Carolinas [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | 598 | 581 | $ 549 | |
State income tax, net of federal income tax effect | 46 | 17 | 56 | |
AFUDC equity income | (34) | (32) | (32) | |
Tax true-up | 2 | |||
Other items, net | 15 | 22 | 21 | |
Income tax expense (benefit) from continuing operations | $ 627 | $ 588 | $ 594 | |
Effective tax rate | 36.70% | 35.40% | 37.80% | |
Progress Energy [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | $ 555 | $ 497 | $ 361 | |
State income tax, net of federal income tax effect | 18 | 49 | 31 | |
AFUDC equity income | (19) | (9) | (18) | |
Renewable energy production tax credits | (1) | |||
Audit Adjustment | (23) | |||
Tax true-up | (3) | |||
Other items, net | (5) | 3 | (1) | |
Income tax expense (benefit) from continuing operations | $ 522 | $ 540 | $ 373 | |
Effective tax rate | 32.90% | 38.00% | 36.20% | |
Duke Energy Progress [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | $ 302 | $ 263 | $ 276 | |
State income tax, net of federal income tax effect | 15 | 25 | 31 | |
AFUDC equity income | (17) | (9) | (15) | |
Audit Adjustment | 1 | |||
Tax true-up | (4) | |||
Other items, net | (3) | 6 | (4) | |
Income tax expense (benefit) from continuing operations | $ 294 | $ 285 | $ 288 | |
Effective tax rate | 34.20% | 37.90% | 36.50% | |
Duke Energy Florida [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | $ 330 | $ 314 | $ 188 | |
State income tax, net of federal income tax effect | 33 | 34 | 20 | |
AFUDC equity income | (3) | (3) | ||
Audit Adjustment | (24) | |||
Tax true-up | 2 | |||
Other items, net | 4 | 1 | 8 | |
Income tax expense (benefit) from continuing operations | $ 342 | $ 349 | $ 213 | |
Effective tax rate | 36.30% | 38.90% | 39.60% | |
Duke Energy Ohio [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | $ 81 | $ 39 | $ 39 | |
State income tax, net of federal income tax effect | 2 | 3 | 2 | |
AFUDC equity income | (1) | (1) | ||
Tax true-up | (5) | |||
Other items, net | 4 | 2 | 2 | |
Income tax expense (benefit) from continuing operations | $ 81 | $ 43 | $ 43 | |
Effective tax rate | 35.20% | 38.90% | 39.10% | |
Duke Energy Indiana [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | $ 168 | $ 195 | $ 203 | |
State income tax, net of federal income tax effect | 2 | 10 | 23 | |
AFUDC equity income | (4) | (5) | (5) | |
Tax true-up | (9) | |||
Other items, net | 6 | (3) | 2 | |
Income tax expense (benefit) from continuing operations | $ 163 | $ 197 | $ 223 | |
Effective tax rate | 34.00% | 35.50% | 38.40% | |
International Energy [Member] | ||||
Foreign Earnings of Subsidiaries | ||||
Foreign Earnings Repatriated | $ 1,500 | |||
Scenario, Forecast [Member] | International Energy [Member] | ||||
Foreign Earnings of Subsidiaries | ||||
Foreign Earnings Repatriated | $ 2,700 |
Income Taxes (Deferred Income T
Income Taxes (Deferred Income Taxes) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Deferred Tax Assets, Gross [Abstract] | ||||
Deferred credits and other liabilities | $ 245 | $ 188 | ||
Capital lease obligations | 63 | 63 | ||
Pension, postretirement and other employee benefits | 580 | 546 | ||
Progress Energy merger purchase accounting adjustments | 1,009 | 1,124 | ||
Tax credits and NOL carryforwards | 3,719 | 3,540 | ||
Other | 206 | |||
Valuation allowance | (160) | (184) | ||
Total deferred income tax assets | 5,662 | 5,277 | ||
Deferred Tax Liabilities, Gross [Abstract] | ||||
Investments and other assets | (1,584) | (1,625) | ||
Accelerated depreciation rates | (13,070) | (11,715) | ||
Regulatory assets and deferred debits, net | (3,633) | (3,694) | ||
Other | (44) | |||
Total deferred income tax liabilities | (18,287) | (17,078) | ||
Net deferred income tax liabilities | (12,625) | (11,801) | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 3,719 | 3,540 | ||
Valuation allowance | (160) | (184) | ||
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||||
Current Assets: Other | 1,593 | |||
Investments and Other Assets: Other | 80 | 29 | ||
Deferred Credits and Other Liabilities: Other | (12,705) | (13,423) | ||
Net deferred income tax liabilities | (12,625) | (11,801) | ||
State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Net reduction in deferred tax liability | 95 | $ 145 | ||
Investment Tax Credits [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Tax credits and NOL carryforwards | 864 | |||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | $ 864 | |||
Investment Tax Credits [Member] | Minimum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2029 | |||
Investment Tax Credits [Member] | Maximum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2035 | |||
Alternative Minimum Tax Credit [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Tax credits and NOL carryforwards | $ 1,121 | |||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 1,121 | |||
NOL Carryforwards [Member] | Federal [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Tax credits and NOL carryforwards | 484 | |||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | $ 484 | |||
NOL Carryforwards [Member] | Federal [Member] | Minimum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2030 | |||
NOL Carryforwards [Member] | Federal [Member] | Maximum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2033 | |||
NOL Carryforwards [Member] | State [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Tax credits and NOL carryforwards | $ 299 | |||
Valuation allowance | (81) | |||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 299 | |||
Valuation allowance | $ (81) | |||
NOL Carryforwards [Member] | State [Member] | Minimum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2016 | |||
NOL Carryforwards [Member] | State [Member] | Maximum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2035 | |||
NOL Carryforwards [Member] | Foreign Jurisdictions [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Tax credits and NOL carryforwards | $ 100 | |||
Valuation allowance | (79) | |||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 100 | |||
Valuation allowance | $ (79) | |||
NOL Carryforwards [Member] | Foreign Jurisdictions [Member] | Minimum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2026 | |||
NOL Carryforwards [Member] | Foreign Jurisdictions [Member] | Maximum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2034 | |||
Foreign Tax Credit [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Tax credits and NOL carryforwards | $ 851 | |||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | $ 851 | |||
Foreign Tax Credit [Member] | Foreign Jurisdictions [Member] | Minimum [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Expiration year | Dec. 31, 2024 | |||
Duke Energy Carolinas [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Deferred credits and other liabilities | $ 38 | 53 | ||
Capital lease obligations | 9 | 10 | ||
Pension, postretirement and other employee benefits | 46 | 4 | ||
Tax credits and NOL carryforwards | 170 | 157 | ||
Other | 20 | 12 | ||
Total deferred income tax assets | 283 | 236 | ||
Deferred Tax Liabilities, Gross [Abstract] | ||||
Investments and other assets | (1,057) | (1,051) | ||
Accelerated depreciation rates | (4,429) | (4,046) | ||
Regulatory assets and deferred debits, net | (943) | (953) | ||
Total deferred income tax liabilities | (6,429) | (6,050) | ||
Net deferred income tax liabilities | (6,146) | (5,814) | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 170 | 157 | ||
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||||
Current Assets: Other | 3 | |||
Current Liabilities: Other | (5) | |||
Deferred Credits and Other Liabilities: Other | (6,146) | (5,812) | ||
Net deferred income tax liabilities | (6,146) | (5,814) | ||
Progress Energy [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Deferred credits and other liabilities | 115 | 108 | ||
Pension, postretirement and other employee benefits | 186 | 188 | ||
Tax credits and NOL carryforwards | 997 | 980 | ||
Other | 48 | |||
Valuation allowance | (38) | (13) | ||
Total deferred income tax assets | 1,308 | 1,263 | ||
Deferred Tax Liabilities, Gross [Abstract] | ||||
Investments and other assets | (412) | (427) | ||
Accelerated depreciation rates | (4,169) | (3,284) | ||
Regulatory assets and deferred debits, net | (1,517) | (1,602) | ||
Other | (151) | |||
Total deferred income tax liabilities | (6,098) | (5,464) | ||
Net deferred income tax liabilities | (4,790) | (4,201) | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 997 | 980 | ||
Valuation allowance | (38) | (13) | ||
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||||
Current Assets: Other | 558 | |||
Deferred Credits and Other Liabilities: Other | (4,790) | (4,759) | ||
Net deferred income tax liabilities | (4,790) | (4,201) | ||
Duke Energy Progress [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Deferred credits and other liabilities | 25 | 28 | ||
Pension, postretirement and other employee benefits | 92 | 96 | ||
Tax credits and NOL carryforwards | 163 | 91 | ||
Other | 2 | 55 | ||
Valuation allowance | (1) | |||
Total deferred income tax assets | 282 | 269 | ||
Deferred Tax Liabilities, Gross [Abstract] | ||||
Investments and other assets | (228) | (232) | ||
Accelerated depreciation rates | (2,325) | (2,030) | ||
Regulatory assets and deferred debits, net | (756) | (809) | ||
Total deferred income tax liabilities | (3,309) | (3,071) | ||
Net deferred income tax liabilities | (3,027) | (2,802) | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 163 | 91 | ||
Valuation allowance | (1) | |||
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||||
Current Assets: Other | 106 | |||
Deferred Credits and Other Liabilities: Other | (3,027) | (2,908) | ||
Net deferred income tax liabilities | (3,027) | (2,802) | ||
Duke Energy Florida [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Deferred credits and other liabilities | 66 | 78 | ||
Pension, postretirement and other employee benefits | 82 | 93 | ||
Tax credits and NOL carryforwards | 177 | 252 | ||
Other | 46 | |||
Total deferred income tax assets | 371 | 423 | ||
Deferred Tax Liabilities, Gross [Abstract] | ||||
Investments and other assets | (201) | (245) | ||
Accelerated depreciation rates | (1,868) | (1,252) | ||
Regulatory assets and deferred debits, net | (762) | (792) | ||
Other | (246) | |||
Total deferred income tax liabilities | (2,831) | (2,535) | ||
Net deferred income tax liabilities | (2,460) | (2,112) | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 177 | 252 | ||
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||||
Current Assets: Other | 340 | |||
Deferred Credits and Other Liabilities: Other | (2,460) | (2,452) | ||
Net deferred income tax liabilities | (2,460) | (2,112) | ||
Duke Energy Ohio [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Deferred credits and other liabilities | 29 | (8) | ||
Pension, postretirement and other employee benefits | 24 | 17 | ||
Tax credits and NOL carryforwards | 25 | 38 | ||
Investments and other assets | 3 | 14 | ||
Other | 37 | 35 | ||
Total deferred income tax assets | 118 | 96 | ||
Deferred Tax Liabilities, Gross [Abstract] | ||||
Accelerated depreciation rates | (1,356) | (1,660) | ||
Regulatory assets and deferred debits, net | (169) | (141) | ||
Total deferred income tax liabilities | (1,525) | (1,801) | ||
Net deferred income tax liabilities | (1,407) | (1,705) | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 25 | 38 | ||
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||||
Current Assets: Other | 60 | |||
Deferred Credits and Other Liabilities: Other | (1,407) | (1,765) | ||
Net deferred income tax liabilities | (1,407) | (1,705) | ||
Duke Energy Indiana [Member] | ||||
Deferred Tax Assets, Gross [Abstract] | ||||
Deferred credits and other liabilities | 5 | 12 | ||
Capital lease obligations | 2 | 2 | ||
Pension, postretirement and other employee benefits | 40 | 43 | ||
Tax credits and NOL carryforwards | 215 | 260 | ||
Other | 20 | 11 | ||
Total deferred income tax assets | 282 | 328 | ||
Deferred Tax Liabilities, Gross [Abstract] | ||||
Investments and other assets | (7) | (4) | ||
Accelerated depreciation rates | (1,797) | (1,603) | ||
Regulatory assets and deferred debits, net | (135) | (106) | ||
Total deferred income tax liabilities | (1,939) | (1,713) | ||
Net deferred income tax liabilities | (1,657) | (1,385) | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Tax credits and NOL carryforwards | 215 | 260 | ||
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||||
Current Assets: Other | 206 | |||
Deferred Credits and Other Liabilities: Other | (1,657) | (1,591) | ||
Net deferred income tax liabilities | $ (1,657) | $ (1,385) | ||
2013 [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 6.90% | |||
2013 [Member] | Duke Energy Carolinas [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 6.90% | |||
2013 [Member] | Duke Energy Progress [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 6.90% | |||
January 2014 [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 6.00% | |||
January 2014 [Member] | Duke Energy Carolinas [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 6.00% | |||
January 2014 [Member] | Duke Energy Progress [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 6.00% | |||
January 2015 [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 5.00% | |||
January 2015 [Member] | Duke Energy Carolinas [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 5.00% | |||
January 2015 [Member] | Duke Energy Progress [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 5.00% | |||
Scenario, Forecast [Member] | January 2016 [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 4.00% | |||
Scenario, Forecast [Member] | January 2016 [Member] | Duke Energy Carolinas [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 4.00% | |||
Scenario, Forecast [Member] | January 2016 [Member] | Duke Energy Progress [Member] | State [Member] | ||||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||||
Statutory Tax Rate | 4.00% |
Income Taxes (Other Disclosures
Income Taxes (Other Disclosures) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | $ 213 | $ 230 | $ 540 |
Gross decreases-tax positions in prior periods | (48) | (2) | (231) |
Decreases due to settlements | (45) | (15) | (66) |
Reduction due to lapse of statute of limitations | (32) | (13) | |
Total changes | (125) | (17) | (310) |
Unrecognized Tax Benefits - December 31 | 88 | 213 | 230 |
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 65 | ||
Amount that if recognized, would affect the effective tax rate or regulatory liability | 62 | ||
Amount that if recognized, would be recorded as a component of discontinued operations | 4 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 12 | 6 | 2 |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest receivable related to income taxes | 3 | ||
Interest payable related to income taxes | 13 | 27 | |
Duke Energy Carolinas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 160 | 171 | 271 |
Gross decreases-tax positions in prior periods | (45) | (100) | |
Decreases due to settlements | (43) | (11) | |
Total changes | (88) | (11) | (100) |
Unrecognized Tax Benefits - December 31 | 72 | 160 | 171 |
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 63 | ||
Amount that if recognized, would affect the effective tax rate or regulatory liability | 54 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 2 | ||
Net interest expense recognized related to income taxes | 1 | 1 | |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 14 | 13 | 8 |
Progress Energy [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 32 | 32 | 131 |
Gross increases-tax positions in prior periods | 1 | 1 | |
Gross decreases-tax positions in prior periods | (86) | ||
Decreases due to settlements | (1) | ||
Reduction due to lapse of statute of limitations | (32) | (13) | |
Total changes | (31) | (99) | |
Unrecognized Tax Benefits - December 31 | 1 | 32 | 32 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 2 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 2 | 3 | 6 |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 5 | 10 | |
Duke Energy Progress [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 23 | 22 | 67 |
Gross increases-tax positions in prior periods | 1 | 1 | |
Gross decreases-tax positions in prior periods | (45) | ||
Reduction due to lapse of statute of limitations | (21) | ||
Total changes | (20) | 1 | (45) |
Unrecognized Tax Benefits - December 31 | 3 | 23 | 22 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 3 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 2 | 7 | |
Net interest expense recognized related to income taxes | 1 | ||
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 1 | 3 | 2 |
Duke Energy Florida [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 8 | 8 | 44 |
Gross decreases-tax positions in prior periods | (37) | ||
Reduction due to lapse of statute of limitations | (8) | 1 | |
Total changes | (8) | (36) | |
Unrecognized Tax Benefits - December 31 | 8 | 8 | |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 1 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 1 | 1 | |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 5 | 7 | |
Duke Energy Ohio [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 36 | ||
Gross decreases-tax positions in prior periods | (36) | ||
Total changes | (36) | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 4 | 4 | |
Duke Energy Indiana [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 1 | 1 | 32 |
Gross decreases-tax positions in prior periods | (31) | ||
Total changes | (31) | ||
Unrecognized Tax Benefits - December 31 | 1 | 1 | 1 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 2 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 1 | 4 | $ 1 |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest receivable related to income taxes | $ 3 | $ 2 |
Other Income and Expenses, N151
Other Income and Expenses, Net Other Income and Expenses, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | $ 38 | $ 57 | $ 26 |
Foreign exchange gains (losses) | (4) | 3 | (18) |
AFUDC equity | 164 | 135 | 157 |
Post in-service equity returns | 73 | 89 | 39 |
Nonoperating income (expense), other | 36 | 67 | 58 |
Other income and expenses, net | 307 | 351 | 262 |
Duke Energy Carolinas [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 2 | 4 | 1 |
AFUDC equity | 96 | 91 | 91 |
Post in-service equity returns | 60 | 71 | 32 |
Nonoperating income (expense), other | 2 | 6 | (4) |
Other income and expenses, net | 160 | 172 | 120 |
Progress Energy [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 4 | 3 | 7 |
AFUDC equity | 54 | 26 | 50 |
Post in-service equity returns | 13 | 17 | 7 |
Nonoperating income (expense), other | 26 | 31 | 30 |
Other income and expenses, net | 97 | 77 | 94 |
Duke Energy Progress [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 2 | 1 | |
AFUDC equity | 47 | 25 | 42 |
Post in-service equity returns | 13 | 17 | 7 |
Nonoperating income (expense), other | 9 | 9 | 7 |
Other income and expenses, net | 71 | 51 | 57 |
Duke Energy Florida [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 2 | 2 | 3 |
AFUDC equity | 7 | 8 | |
Nonoperating income (expense), other | 15 | 18 | 19 |
Other income and expenses, net | 24 | 20 | 30 |
Duke Energy Ohio [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 4 | 8 | 5 |
AFUDC equity | 3 | 4 | 1 |
Nonoperating income (expense), other | (1) | (2) | (4) |
Other income and expenses, net | 6 | 10 | 2 |
Duke Energy Indiana [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 6 | 6 | 6 |
AFUDC equity | 11 | 14 | 15 |
Nonoperating income (expense), other | (6) | 2 | (3) |
Other income and expenses, net | $ 11 | $ 22 | $ 18 |
Quarterly Financial Data (Un152
Quarterly Financial Data (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | $ 5,322 | $ 6,483 | $ 5,589 | $ 6,065 | $ 5,559 | $ 6,395 | $ 5,708 | $ 6,263 | $ 23,459 | $ 23,925 | $ 22,756 |
Operating income (loss) | 977 | 1,688 | 1,246 | 1,456 | 988 | 1,619 | 1,289 | 1,362 | 5,367 | 5,258 | 4,854 |
Income (loss) from continuing operations | 491 | 940 | 604 | 776 | 98 | 891 | 726 | 750 | 2,811 | 2,465 | 2,590 |
Income (Loss) From Discontinued Operations, net of tax | (9) | (5) | (57) | 91 | 2 | 378 | (113) | (843) | 20 | (576) | 86 |
Net income (loss) | 482 | 935 | 547 | 867 | 100 | 1,269 | 613 | (93) | 2,831 | 1,889 | 2,676 |
Net income (loss) attributable to Parent | $ 477 | $ 932 | $ 543 | $ 864 | $ 97 | $ 1,274 | $ 609 | $ (97) | $ 2,816 | $ 1,883 | $ 2,665 |
Income (loss) from continuing operations attributable to Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic | $ 0.70 | $ 1.36 | $ 0.87 | $ 1.09 | $ 0.14 | $ 1.25 | $ 1.02 | $ 1.05 | $ 4.02 | $ 3.46 | $ 3.64 |
Diluted | 0.70 | 1.36 | 0.87 | 1.09 | 0.14 | 1.25 | 1.02 | 1.05 | 4.02 | 3.46 | 3.63 |
Income (loss) from discontinued operations attributable To Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic | (0.01) | (0.01) | (0.09) | 0.13 | 0.55 | (0.16) | (1.19) | 0.03 | (0.80) | 0.13 | |
Diluted | (0.01) | (0.01) | (0.09) | 0.13 | 0.55 | (0.16) | (1.19) | 0.03 | (0.80) | 0.13 | |
Net income attributable to Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic | 0.69 | 1.35 | 0.78 | 1.22 | 0.14 | 1.80 | 0.86 | (0.14) | 4.05 | 2.66 | 3.77 |
Diluted | $ 0.69 | $ 1.35 | $ 0.78 | $ 1.22 | $ 0.14 | $ 1.80 | $ 0.86 | $ (0.14) | $ 4.05 | $ 2.66 | $ 3.76 |
Duke Energy Carolinas [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | $ 1,560 | $ 2,061 | $ 1,707 | $ 1,901 | $ 1,658 | $ 1,938 | $ 1,755 | $ 2,000 | $ 7,229 | $ 7,351 | $ 6,954 |
Operating income (loss) | 296 | 666 | 483 | 515 | 318 | 630 | 438 | 509 | 1,960 | 1,895 | 1,809 |
Net income (loss) | 141 | 383 | 265 | 292 | 139 | 377 | 270 | 286 | 1,081 | 1,072 | |
Net income (loss) attributable to Parent | 1,081 | 1,072 | 976 | ||||||||
Progress Energy [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 2,336 | 2,929 | 2,476 | 2,536 | 2,341 | 2,863 | 2,421 | 2,541 | 10,277 | 10,166 | 9,533 |
Operating income (loss) | 351 | 756 | 504 | 549 | 388 | 665 | 488 | 477 | 2,160 | 2,018 | 1,618 |
Income (loss) from continuing operations | 132 | 452 | 217 | 264 | 139 | 330 | 207 | 204 | 1,065 | 880 | 659 |
Income (Loss) From Discontinued Operations, net of tax | (3) | (6) | 16 | ||||||||
Net income (loss) | 131 | 451 | 217 | 263 | 139 | 330 | 202 | 203 | 1,062 | 874 | 675 |
Net income (loss) attributable to Parent | 128 | 448 | 215 | 260 | 136 | 329 | 202 | 202 | 1,051 | 869 | 672 |
Duke Energy Progress [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 1,160 | 1,488 | 1,193 | 1,449 | 1,196 | 1,367 | 1,191 | 1,422 | 5,290 | 5,176 | 4,992 |
Operating income (loss) | 130 | 394 | 184 | 316 | 180 | 285 | 212 | 258 | 1,024 | 935 | 932 |
Net income (loss) | 69 | 229 | 85 | 183 | 76 | 157 | 101 | 133 | 566 | 467 | 500 |
Net income (loss) attributable to Parent | 566 | 467 | 500 | ||||||||
Duke Energy Florida [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 1,174 | 1,436 | 1,281 | 1,086 | 1,143 | 1,491 | 1,225 | 1,116 | 4,977 | 4,975 | 4,527 |
Operating income (loss) | 216 | 357 | 315 | 227 | 205 | 378 | 276 | 219 | 1,115 | 1,078 | 688 |
Net income (loss) | 105 | 216 | 165 | 113 | 93 | 205 | 142 | 108 | 599 | 548 | 325 |
Net income (loss) attributable to Parent | 599 | 548 | 325 | ||||||||
Duke Energy Ohio [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 452 | 462 | 405 | 586 | 480 | 446 | 412 | 575 | 1,905 | 1,913 | 1,805 |
Operating income (loss) | 73 | 76 | 43 | 111 | 76 | 58 | 60 | (7) | 303 | 187 | 182 |
Income (loss) from continuing operations | 149 | 68 | 67 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | (2) | (65) | 90 | 34 | 413 | (135) | (875) | 23 | (563) | 35 | |
Net income (loss) | 43 | 32 | (52) | 149 | 63 | 439 | (107) | (890) | 172 | (495) | 102 |
Net income (loss) attributable to Parent | 172 | (495) | 102 | ||||||||
Duke Energy Indiana [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 667 | 749 | 686 | 788 | 792 | 790 | 748 | 845 | 2,890 | 3,175 | 2,926 |
Operating income (loss) | 171 | 117 | 146 | 210 | 130 | 182 | 178 | 215 | 644 | 705 | 733 |
Net income (loss) | $ 94 | $ 46 | $ 68 | $ 108 | $ 58 | $ 101 | $ 87 | $ 113 | 316 | 359 | |
Net income (loss) attributable to Parent | $ 316 | $ 359 | $ 358 |
Quarterly Financial Data (Un153
Quarterly Financial Data (Unaudited) (Unusual or Infrequently Occurring Items) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve mergers | $ (30) | $ (24) | $ (22) | $ (21) | $ (33) | $ (56) | $ (61) | $ (55) | $ (97) | $ (205) | |
Cost Savings Initiative | (142) | 0 | 0 | 0 | (142) | ||||||
Pretax impairment charge | (120) | (81) | $ (399) | ||||||||
Deferred foreign taxes | 17 | 67 | (14) | ||||||||
Total | (182) | (121) | (63) | (21) | (547) | 421 | (61) | (1,436) | (387) | (1,623) | |
Edwardsport Settlement [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Settlements and penalties | (3) | (90) | (93) | ||||||||
Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Settlements and penalties | (7) | (7) | (102) | 0 | 0 | 0 | (14) | (102) | |||
Midwest Generation Business [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
State Tax Adjustment related to Midwest Generation Sale | (41) | (41) | |||||||||
Midwest Generation Impairment [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | (39) | 477 | 0 | (1,287) | (849) | ||||||
International Tax Adjustment [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Deferred foreign taxes | (373) | (373) | |||||||||
Ohio Valley Electric Corporation [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | (94) | (94) | |||||||||
Duke Energy Carolinas [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve mergers | (16) | (11) | (11) | (9) | (17) | (25) | (38) | (29) | (47) | (109) | |
Cost Savings Initiative | (93) | 0 | 0 | 0 | (93) | ||||||
Pretax impairment charge | (1) | (3) | |||||||||
Total | (116) | (12) | (11) | (9) | (89) | (25) | (38) | (29) | (148) | (181) | |
Duke Energy Carolinas [Member] | Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Settlements and penalties | (7) | (1) | (72) | (8) | (72) | ||||||
Progress Energy [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve mergers | (10) | (8) | (8) | (8) | (13) | (21) | (12) | (19) | (34) | (65) | |
Cost Savings Initiative | (36) | 0 | 0 | 0 | (36) | ||||||
Pretax impairment charge | (12) | 16 | (380) | ||||||||
Total | (46) | (14) | (8) | (8) | (43) | (21) | (12) | (19) | (76) | (95) | |
Progress Energy [Member] | Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Settlements and penalties | (6) | (30) | (6) | (30) | |||||||
Duke Energy Progress [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve mergers | (6) | (6) | (5) | (5) | (10) | (15) | (3) | (14) | (22) | (42) | |
Cost Savings Initiative | (28) | 0 | 0 | 0 | (28) | ||||||
Pretax impairment charge | (5) | 18 | (22) | ||||||||
Total | (34) | (12) | (5) | (5) | (40) | (15) | (3) | (14) | (56) | (72) | |
Duke Energy Progress [Member] | Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Settlements and penalties | (6) | (30) | (6) | (30) | |||||||
Duke Energy Florida [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve mergers | (4) | (3) | (3) | (3) | (3) | (6) | (9) | (5) | (13) | (23) | |
Cost Savings Initiative | (8) | 0 | 0 | 0 | (8) | ||||||
Pretax impairment charge | (7) | (2) | (358) | ||||||||
Total | (12) | (3) | (3) | (3) | (21) | ||||||
Duke Energy Ohio [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve mergers | (1) | (1) | (1) | (1) | (2) | (3) | (4) | (2) | (4) | (11) | |
Cost Savings Initiative | (2) | 0 | 0 | 0 | (2) | ||||||
Pretax impairment charge | (94) | $ (5) | |||||||||
Total | (3) | (1) | (1) | (1) | (41) | 474 | (4) | (1,414) | (6) | (985) | |
Duke Energy Ohio [Member] | Midwest Generation Impairment [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | (39) | 477 | 0 | (1,318) | (880) | ||||||
Duke Energy Ohio [Member] | Ohio Valley Electric Corporation [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | (94) | (94) | |||||||||
Duke Energy Indiana [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve mergers | (2) | (2) | (1) | (2) | $ (2) | $ (3) | $ (5) | $ (2) | (7) | $ (12) | |
Cost Savings Initiative | (6) | 0 | 0 | 0 | (6) | ||||||
Pretax impairment charge | (88) | ||||||||||
Total | (11) | (92) | $ (1) | $ (2) | (106) | ||||||
Duke Energy Indiana [Member] | Edwardsport Settlement [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Settlements and penalties | $ (3) | $ (90) | $ (93) |