Cover Page
Cover Page - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 31, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 1-32853 | ||
Entity Registrant Name | DUKE ENERGY CORPORATION | ||
Entity Tax Identification Number | 20-2777218 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | 550 South Tryon Street | ||
Entity Address, City or Town | Charlotte | ||
Entity Address, State or Province | NC | ||
Entity Address, Postal Zip Code | 28202-1803 | ||
City Area Code | 704 | ||
Local Phone Number | 382-3853 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 64,230,558,771 | ||
Entity Common Stock, Shares Outstanding | 733,321,965 | ||
Documents Incorporated by Reference | Portions of the Duke Energy definitive proxy statement for the 2020 Annual Meeting of the Shareholders or an amendment to this Annual Report are incorporated by reference into PART III, Items 10, 11 and 13 hereof. This combined Form 10-K is filed separately by eight registrants: Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont (collectively the Duke Energy Registrants). Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf. Each registrant makes no representation as to information relating exclusively to the other registrants. | ||
Entity Central Index Key | 0001326160 | ||
Current Fiscal Year End Date | --12-31 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Common Stock | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Common Stock, $0.001 par value | ||
Trading Symbol | DUK | ||
Security Exchange Name | NYSE | ||
Junior Subordinated Debentures 5.125% Coupon Due January 2073 | |||
Document Information [Line Items] | |||
Title of 12(b) Security | 5.125% Junior Subordinated Debentures | ||
Trading Symbol | DUKH | ||
Security Exchange Name | NYSE | ||
Junior Subordinated Debentures 5.625% Coupon Due September 2078 | |||
Document Information [Line Items] | |||
Title of 12(b) Security | 5.625% Junior Subordinated Debentures | ||
Trading Symbol | DUKB | ||
Security Exchange Name | NYSE | ||
Depositary Share | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Depositary Shares | ||
Trading Symbol | DUK PR A | ||
Security Exchange Name | NYSE | ||
Duke Energy Carolinas | |||
Document Information [Line Items] | |||
Entity File Number | 1-4928 | ||
Entity Registrant Name | DUKE ENERGY CAROLINAS, LLC | ||
Entity Tax Identification Number | 56-0205520 | ||
Entity Incorporation, State or Country Code | NC | ||
Entity Address, Address Line One | 526 South Church Street | ||
Entity Address, City or Town | Charlotte | ||
Entity Address, State or Province | NC | ||
Entity Address, Postal Zip Code | 28202-1803 | ||
City Area Code | 704 | ||
Local Phone Number | 382-3853 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Central Index Key | 0000030371 | ||
Current Fiscal Year End Date | --12-31 | ||
Progress Energy | |||
Document Information [Line Items] | |||
Entity File Number | 1-15929 | ||
Entity Registrant Name | PROGRESS ENERGY, INC. | ||
Entity Tax Identification Number | 56-2155481 | ||
Entity Incorporation, State or Country Code | NC | ||
Entity Address, Address Line One | 410 South Wilmington Street | ||
Entity Address, City or Town | Raleigh | ||
Entity Address, State or Province | NC | ||
Entity Address, Postal Zip Code | 27601-1748 | ||
City Area Code | 704 | ||
Local Phone Number | 382-3853 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Central Index Key | 0001094093 | ||
Current Fiscal Year End Date | --12-31 | ||
Duke Energy Progress | |||
Document Information [Line Items] | |||
Entity File Number | 1-3382 | ||
Entity Registrant Name | DUKE ENERGY PROGRESS, LLC | ||
Entity Tax Identification Number | 56-0165465 | ||
Entity Incorporation, State or Country Code | NC | ||
Entity Address, Address Line One | 410 South Wilmington Street | ||
Entity Address, City or Town | Raleigh | ||
Entity Address, State or Province | NC | ||
Entity Address, Postal Zip Code | 27601-1748 | ||
City Area Code | 704 | ||
Local Phone Number | 382-3853 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Central Index Key | 0000017797 | ||
Current Fiscal Year End Date | --12-31 | ||
Duke Energy Florida | |||
Document Information [Line Items] | |||
Entity File Number | 1-3274 | ||
Entity Registrant Name | DUKE ENERGY FLORIDA, LLC | ||
Entity Tax Identification Number | 59-0247770 | ||
Entity Incorporation, State or Country Code | FL | ||
Entity Address, Address Line One | 299 First Avenue North | ||
Entity Address, City or Town | St. Petersburg | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 33701 | ||
City Area Code | 704 | ||
Local Phone Number | 382-3853 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Central Index Key | 0000037637 | ||
Current Fiscal Year End Date | --12-31 | ||
Duke Energy Ohio | |||
Document Information [Line Items] | |||
Entity File Number | 1-1232 | ||
Entity Registrant Name | DUKE ENERGY OHIO, INC. | ||
Entity Tax Identification Number | 31-0240030 | ||
Entity Incorporation, State or Country Code | OH | ||
Entity Address, Address Line One | 139 East Fourth Street | ||
Entity Address, City or Town | Cincinnati | ||
Entity Address, State or Province | OH | ||
Entity Address, Postal Zip Code | 45202 | ||
City Area Code | 704 | ||
Local Phone Number | 382-3853 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Central Index Key | 0000020290 | ||
Current Fiscal Year End Date | --12-31 | ||
Duke Energy Indiana | |||
Document Information [Line Items] | |||
Entity File Number | 1-3543 | ||
Entity Registrant Name | DUKE ENERGY INDIANA, LLC | ||
Entity Tax Identification Number | 35-0594457 | ||
Entity Incorporation, State or Country Code | IN | ||
Entity Address, Address Line One | 1000 East Main Street | ||
Entity Address, City or Town | Plainfield | ||
Entity Address, State or Province | IN | ||
Entity Address, Postal Zip Code | 46168 | ||
City Area Code | 704 | ||
Local Phone Number | 382-3853 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Central Index Key | 0000081020 | ||
Current Fiscal Year End Date | --12-31 | ||
Piedmont | |||
Document Information [Line Items] | |||
Entity File Number | 1-6196 | ||
Entity Registrant Name | PIEDMONT NATURAL GAS COMPANY, INC. | ||
Entity Tax Identification Number | 56-0556998 | ||
Entity Incorporation, State or Country Code | NC | ||
Entity Address, Address Line One | 4720 Piedmont Row Drive | ||
Entity Address, City or Town | Charlotte | ||
Entity Address, State or Province | NC | ||
Entity Address, Postal Zip Code | 28210 | ||
City Area Code | 704 | ||
Local Phone Number | 364-3120 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Central Index Key | 0000078460 | ||
Current Fiscal Year End Date | --12-31 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Operating Revenues | ||||
Regulated electric | $ 22,615 | $ 22,097 | $ 21,177 | |
Regulated natural gas | 1,759 | 1,773 | 1,734 | |
Nonregulated electric and other | 705 | 651 | 654 | |
Total operating revenues | 25,079 | 24,521 | 23,565 | |
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 6,826 | 6,831 | 6,350 | |
Operation, maintenance and other | 6,066 | 6,463 | 5,944 | |
Depreciation and amortization | 4,548 | 4,074 | 3,527 | |
Property and other taxes | 1,307 | 1,280 | 1,233 | |
Impairment charges | (8) | 402 | 282 | |
Total operating expenses | 19,366 | 19,747 | 17,968 | |
(Losses) Gains on Sales of Other Assets and Other, net | (4) | (89) | 28 | |
Operating Income | 5,709 | 4,685 | 5,625 | |
Other Income and Expenses | ||||
Equity in earnings of unconsolidated affiliates | 162 | 83 | 119 | |
Other income and expenses, net | 430 | 399 | 508 | |
Total other income and expenses | 592 | 482 | 627 | |
Interest Expense | 2,204 | 2,094 | 1,986 | |
Income (Loss) from Continuing Operations before Income Taxes | 4,097 | 3,073 | 4,266 | |
Income Tax Expense From Continuing Operations | 519 | 448 | 1,196 | |
Income From Continuing Operations | 3,578 | 2,625 | 3,070 | |
(Loss) Income From Discontinued Operations, net of tax | (7) | 19 | (6) | |
Net Income | 3,571 | 2,644 | 3,064 | |
Less: Net (Loss) Income Attributable to Noncontrolling Interests | (177) | (22) | 5 | |
Net Income Attributable to Parent | 3,748 | 2,666 | 3,059 | |
Less: Preferred Dividends | 41 | |||
Net Income Available to Common Stockholders | 3,707 | 2,666 | 3,059 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Pension and OPEB adjustments | [1] | 9 | (6) | 3 |
Net unrealized (losses) gains on cash flow hedges | [1] | (47) | (10) | |
Net unrealized gain on cash flow hedges | [1] | 2 | ||
Reclassification into earnings from cash flow hedges | [1] | 6 | 6 | |
Reclassification into earnings from cash flow hedges | [1] | 8 | ||
Unrealized gains on available for sale securities | [1] | 8 | (3) | 13 |
Other Comprehensive (Loss) Income, net of tax | [1] | (24) | (13) | 26 |
Comprehensive Income | 3,547 | 2,631 | 3,090 | |
Less: Comprehensive (Loss) Income Attributable to Noncontrolling Interests | (177) | (22) | 5 | |
Comprehensive (Loss) Income Attributable to Parent | $ 3,683 | $ 2,653 | $ 3,085 | |
Income from continuing operations available to Duke Energy Corporation common stockholders | ||||
Basic and diluted (in usd per share) | $ 5.07 | $ 3.73 | $ 4.37 | |
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders | ||||
Basic and diluted (in usd per share) | (0.01) | 0.03 | (0.01) | |
Net income available to Duke Energy Corporation common stockholders | ||||
Basic and diluted (in usd per share) | $ 5.06 | $ 3.76 | $ 4.36 | |
Weighted average shares outstanding | ||||
Weighted average common shares outstanding – basic and diluted | 729 | 708 | 700 | |
Cost of natural gas | ||||
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | $ 627 | $ 697 | $ 632 | |
Duke Energy Carolinas | ||||
Operating Revenues | ||||
Total operating revenues | 7,395 | 7,300 | 7,302 | |
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 1,804 | 1,821 | 1,822 | |
Operation, maintenance and other | 1,868 | 2,130 | 2,021 | |
Depreciation and amortization | 1,388 | 1,201 | 1,090 | |
Property and other taxes | 292 | 295 | 281 | |
Impairment charges | 17 | 192 | 0 | |
Total operating expenses | 5,369 | 5,639 | 5,214 | |
(Losses) Gains on Sales of Other Assets and Other, net | (1) | 1 | ||
Operating Income | 2,026 | 1,660 | 2,089 | |
Other Income and Expenses | ||||
Other income and expenses, net | 151 | 153 | 199 | |
Total other income and expenses | 151 | 153 | 199 | |
Interest Expense | 463 | 439 | 422 | |
Income (Loss) from Continuing Operations before Income Taxes | 1,714 | 1,374 | 1,866 | |
Income Tax Expense From Continuing Operations | 311 | 303 | 652 | |
Net Income Attributable to Parent | 1,403 | 1,071 | 1,214 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Reclassification into earnings from cash flow hedges | 1 | |||
Reclassification into earnings from cash flow hedges | 2 | |||
Other Comprehensive (Loss) Income, net of tax | 1 | 2 | ||
Comprehensive (Loss) Income Attributable to Parent | 1,403 | 1,072 | 1,216 | |
Progress Energy | ||||
Operating Revenues | ||||
Total operating revenues | 11,202 | 10,728 | 9,783 | |
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 4,024 | 3,976 | 3,417 | |
Operation, maintenance and other | 2,495 | 2,613 | 2,301 | |
Depreciation and amortization | 1,845 | 1,619 | 1,285 | |
Property and other taxes | 561 | 529 | 503 | |
Impairment charges | (24) | 87 | 156 | |
Total operating expenses | 8,901 | 8,824 | 7,662 | |
(Losses) Gains on Sales of Other Assets and Other, net | 24 | 26 | ||
Operating Income | 2,301 | 1,928 | 2,147 | |
Other Income and Expenses | ||||
Other income and expenses, net | 141 | 165 | 209 | |
Total other income and expenses | 141 | 165 | 209 | |
Interest Expense | 862 | 842 | 824 | |
Income From Continuing Operations Before Income Taxes | 1,580 | 1,251 | 1,532 | |
Income Tax Expense From Continuing Operations | 253 | 218 | 264 | |
Net Income | 1,327 | 1,033 | 1,268 | |
Less: Net (Loss) Income Attributable to Noncontrolling Interests | 6 | 10 | ||
Net Income Attributable to Parent | 1,327 | 1,027 | 1,258 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Pension and OPEB adjustments | 2 | 5 | 4 | |
Net unrealized (losses) gains on cash flow hedges | 5 | 6 | ||
Net unrealized gain on cash flow hedges | 5 | |||
Unrealized gains on available for sale securities | 1 | (1) | 4 | |
Other Comprehensive (Loss) Income, net of tax | 8 | 10 | 13 | |
Comprehensive Income | 1,335 | 1,043 | 1,281 | |
Less: Comprehensive (Loss) Income Attributable to Noncontrolling Interests | 6 | 10 | ||
Comprehensive (Loss) Income Attributable to Parent | 1,335 | 1,037 | 1,271 | |
Duke Energy Progress | ||||
Operating Revenues | ||||
Total operating revenues | 5,957 | 5,699 | 5,129 | |
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 2,012 | 1,892 | 1,609 | |
Operation, maintenance and other | 1,446 | 1,578 | 1,439 | |
Depreciation and amortization | 1,143 | 991 | 725 | |
Property and other taxes | 176 | 155 | 156 | |
Impairment charges | 12 | 33 | 19 | |
Total operating expenses | 4,789 | 4,649 | 3,948 | |
(Losses) Gains on Sales of Other Assets and Other, net | 9 | 4 | ||
Operating Income | 1,168 | 1,059 | 1,185 | |
Other Income and Expenses | ||||
Other income and expenses, net | 100 | 87 | 115 | |
Total other income and expenses | 100 | 87 | 115 | |
Interest Expense | 306 | 319 | 293 | |
Income (Loss) from Continuing Operations before Income Taxes | 962 | 827 | 1,007 | |
Income Tax Expense From Continuing Operations | 157 | 160 | 292 | |
Net Income Attributable to Parent | 805 | 667 | 715 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Comprehensive (Loss) Income Attributable to Parent | 805 | 667 | 715 | |
Duke Energy Florida | ||||
Operating Revenues | ||||
Total operating revenues | 5,231 | 5,021 | 4,646 | |
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 2,012 | 2,085 | 1,808 | |
Operation, maintenance and other | 1,034 | 1,025 | 853 | |
Depreciation and amortization | 702 | 628 | 560 | |
Property and other taxes | 392 | 374 | 347 | |
Impairment charges | (36) | 54 | 138 | |
Total operating expenses | 4,104 | 4,166 | 3,706 | |
(Losses) Gains on Sales of Other Assets and Other, net | 1 | 1 | ||
Operating Income | 1,127 | 856 | 941 | |
Other Income and Expenses | ||||
Other income and expenses, net | 48 | 86 | 96 | |
Total other income and expenses | 48 | 86 | 96 | |
Interest Expense | 328 | 287 | 279 | |
Income (Loss) from Continuing Operations before Income Taxes | 847 | 655 | 758 | |
Income Tax Expense From Continuing Operations | 155 | 101 | 46 | |
Net Income Attributable to Parent | 692 | 554 | 712 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Unrealized gains on available for sale securities | 1 | (1) | 3 | |
Other Comprehensive (Loss) Income, net of tax | 1 | (1) | 3 | |
Comprehensive (Loss) Income Attributable to Parent | 693 | 553 | 715 | |
Duke Energy Ohio | ||||
Operating Revenues | ||||
Regulated electric | 1,456 | 1,450 | 1,373 | |
Regulated natural gas | 484 | 506 | 508 | |
Nonregulated electric and other | 1 | 42 | ||
Total operating revenues | 1,940 | 1,957 | 1,923 | |
Operating Expenses | ||||
Operation, maintenance and other | 520 | 480 | 530 | |
Depreciation and amortization | 265 | 268 | 261 | |
Property and other taxes | 308 | 290 | 278 | |
Impairment charges | 1 | |||
Total operating expenses | 1,576 | 1,563 | 1,604 | |
(Losses) Gains on Sales of Other Assets and Other, net | (106) | 1 | ||
Operating Income | 364 | 288 | 320 | |
Other Income and Expenses | ||||
Other income and expenses, net | 24 | 23 | 23 | |
Total other income and expenses | 24 | 23 | 23 | |
Interest Expense | 109 | 92 | 91 | |
Income (Loss) from Continuing Operations before Income Taxes | 279 | 219 | 252 | |
Income Tax Expense From Continuing Operations | 40 | 43 | 59 | |
Income From Continuing Operations | 239 | 176 | 193 | |
(Loss) Income From Discontinued Operations, net of tax | (1) | (1) | ||
Net Income Attributable to Parent | 238 | 176 | 192 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Comprehensive (Loss) Income Attributable to Parent | 238 | 176 | 192 | |
Duke Energy Ohio | Cost of natural gas | ||||
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 95 | 113 | 107 | |
Duke Energy Ohio | Electric Utilities and Infrastructure | ||||
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 388 | 412 | 369 | |
Duke Energy Ohio | Electricity, Nonregulated | ||||
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 58 | |||
Duke Energy Indiana | ||||
Operating Revenues | ||||
Total operating revenues | 3,004 | 3,059 | 3,047 | |
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 935 | 1,000 | 966 | |
Operation, maintenance and other | 790 | 788 | 743 | |
Depreciation and amortization | 525 | 520 | 458 | |
Property and other taxes | 69 | 78 | 76 | |
Impairment charges | 30 | 18 | ||
Total operating expenses | 2,319 | 2,416 | 2,261 | |
Operating Income | 685 | 643 | 786 | |
Other Income and Expenses | ||||
Other income and expenses, net | 41 | 45 | 47 | |
Total other income and expenses | 41 | 45 | 47 | |
Interest Expense | 156 | 167 | 178 | |
Income (Loss) from Continuing Operations before Income Taxes | 570 | 521 | 655 | |
Income Tax Expense From Continuing Operations | 134 | 128 | 301 | |
Net Income Attributable to Parent | 436 | 393 | 354 | |
Piedmont | ||||
Operating Revenues | ||||
Regulated natural gas | 1,369 | 1,365 | 1,319 | |
Nonregulated electric and other | 12 | 10 | 9 | |
Total operating revenues | 1,381 | 1,375 | 1,328 | |
Operating Expenses | ||||
Fuel used in electric generation and purchased power/Cost of natural gas | 532 | 584 | 524 | |
Operation, maintenance and other | 328 | 357 | 304 | |
Depreciation and amortization | 172 | 159 | 148 | |
Property and other taxes | 45 | 49 | 48 | |
Impairment charges | 7 | |||
Total operating expenses | 1,077 | 1,149 | 1,031 | |
Operating Income | 304 | 226 | 297 | |
Other Income and Expenses | ||||
Equity in earnings of unconsolidated affiliates | 8 | 7 | (6) | |
Other income and expenses, net | 20 | 14 | (11) | |
Total other income and expenses | 28 | 21 | (17) | |
Interest Expense | 87 | 81 | 79 | |
Income (Loss) from Continuing Operations before Income Taxes | 245 | 166 | 201 | |
Income Tax Expense From Continuing Operations | 43 | 37 | 62 | |
Net Income Attributable to Parent | 202 | 129 | 139 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Comprehensive (Loss) Income Attributable to Parent | $ 202 | $ 129 | $ 139 | |
[1] | Tax impacts are insignificant for all periods presented. |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 3,683 | $ 2,653 | $ 3,085 |
Duke Energy Progress | |||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 805 | 667 | 715 |
Duke Energy Ohio | |||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 238 | $ 176 | $ 192 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 3,571 | $ 2,644 | $ 3,064 | |
Other Comprehensive (Loss) Income, net of tax(a) | ||||
Pension and OPEB adjustments | [1] | 9 | (6) | 3 |
Net unrealized (losses) gains on cash flow hedges | [1] | (47) | (10) | |
Net unrealized (losses) gains on cash flow hedges | [1] | 2 | ||
Reclassification into earnings from cash flow hedges | [1] | 6 | 6 | |
Reclassification into earnings from cash flow hedges | [1] | 8 | ||
Unrealized gains (losses) on available-for-sale securities | [1] | 8 | (3) | 13 |
Other Comprehensive (Loss) Income, net of tax | [1] | (24) | (13) | 26 |
Comprehensive Income | 3,547 | 2,631 | 3,090 | |
Less: Comprehensive (Loss) Income Attributable to Noncontrolling Interests | (177) | (22) | 5 | |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 3,724 | 2,653 | 3,085 | |
Less: Preferred Dividends | 41 | |||
Comprehensive (Loss) Income Attributable to Parent | $ 3,683 | $ 2,653 | $ 3,085 | |
[1] | Tax impacts are insignificant for all periods presented. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 311 | $ 442 |
Receivables (net of allowance for doubtful accounts) | 1,066 | 962 |
Receivables of VIEs (net of allowance for doubtful accounts) | 1,994 | 2,172 |
Inventory | 3,232 | 3,084 |
Regulatory assets (includes amounts related to VIEs) | 1,796 | 2,005 |
Other (including amounts related to VIEs) | 764 | 1,049 |
Total current assets | 9,163 | 9,714 |
Property, Plant and Equipment | ||
Cost | 147,654 | 134,458 |
Accumulated depreciation and amortization | (45,773) | (43,126) |
Generation facilities to be retired, net | 246 | 362 |
Net property, plant and equipment | 102,127 | 91,694 |
Other Noncurrent Assets | ||
Goodwill | 19,303 | 19,303 |
Regulatory assets (includes amounts related to VIEs) | 13,222 | 13,617 |
Nuclear decommissioning trust funds | 8,140 | 6,720 |
Operating lease right-of-use assets, net | 1,658 | |
Investments in equity method unconsolidated affiliates | 1,936 | 1,409 |
Other (including amounts related to VIEs) | 3,289 | 2,935 |
Total other noncurrent assets | 47,548 | 43,984 |
Total Assets | 158,838 | 145,392 |
Current Liabilities | ||
Accounts payable | 3,487 | 3,487 |
Notes payable and commercial paper | 3,135 | 3,410 |
Taxes accrued | 392 | 577 |
Interest accrued | 565 | 559 |
Current maturities of long-term debt (includes amounts related to VIEs) | 3,141 | 3,406 |
Asset retirement obligations | 881 | 919 |
Regulatory liabilities | 784 | 598 |
Other | 2,367 | 2,085 |
Total current liabilities | 14,752 | 15,041 |
Long-Term Debt (includes amounts related to VIEs) | 54,985 | 51,123 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 8,878 | 7,806 |
Asset retirement obligations | 12,437 | 9,548 |
Regulatory liabilities | 15,264 | 14,834 |
Operating lease liabilities | 1,432 | |
Accrued pension and other post-retirement benefit costs | 934 | 988 |
Investment tax credits | 624 | 568 |
Other (includes amounts related to VIEs) | 1,581 | 1,650 |
Total other noncurrent liabilities | 41,150 | 35,394 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 1 | 1 |
Additional paid-in capital | 40,881 | 40,795 |
Retained earnings | 4,108 | 3,113 |
Accumulated other comprehensive (loss) income | (130) | (92) |
Total Parent stockholders' equity | 46,822 | 43,817 |
Noncontrolling interests | 1,129 | 17 |
Total equity | 47,951 | 43,834 |
Total Liabilities and Equity | 158,838 | 145,392 |
Series A Preferred Stock | ||
Equity | ||
Preferred stock | 973 | |
Series B Preferred Stock | ||
Equity | ||
Preferred stock | 989 | |
Duke Energy Carolinas | ||
Current Assets | ||
Cash and cash equivalents | 18 | 33 |
Receivables (net of allowance for doubtful accounts) | 324 | 219 |
Receivables of VIEs (net of allowance for doubtful accounts) | 642 | 699 |
Receivables from affiliated companies | 114 | 182 |
Inventory | 996 | 948 |
Regulatory assets (includes amounts related to VIEs) | 550 | 520 |
Other (including amounts related to VIEs) | 21 | 72 |
Total current assets | 2,665 | 2,673 |
Property, Plant and Equipment | ||
Cost | 48,922 | 44,741 |
Accumulated depreciation and amortization | (16,525) | (15,496) |
Net property, plant and equipment | 32,397 | 29,245 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 3,360 | 3,457 |
Nuclear decommissioning trust funds | 4,359 | 3,558 |
Operating lease right-of-use assets, net | 123 | |
Other (including amounts related to VIEs) | 1,149 | 1,027 |
Total other noncurrent assets | 8,991 | 8,042 |
Total Assets | 44,053 | 39,960 |
Current Liabilities | ||
Accounts payable | 954 | 988 |
Accounts payable to affiliated companies | 210 | 230 |
Notes payable to affiliated companies | 29 | 439 |
Taxes accrued | 46 | 171 |
Interest accrued | 115 | 102 |
Current maturities of long-term debt (includes amounts related to VIEs) | 458 | 6 |
Asset retirement obligations | 206 | 290 |
Regulatory liabilities | 255 | 199 |
Other | 611 | 571 |
Total current liabilities | 2,884 | 2,996 |
Long-Term Debt (includes amounts related to VIEs) | 11,142 | 10,633 |
Long-Term Debt Payable to Affiliated Companies | 300 | 300 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 3,921 | 3,689 |
Asset retirement obligations | 5,528 | 3,659 |
Regulatory liabilities | 6,423 | 5,999 |
Operating lease liabilities | 102 | |
Accrued pension and other post-retirement benefit costs | 84 | 99 |
Investment tax credits | 231 | 231 |
Other (includes amounts related to VIEs) | 627 | 671 |
Total other noncurrent liabilities | 16,916 | 14,348 |
Commitments and Contingencies | ||
Equity | ||
Member's equity | 12,818 | 11,689 |
Accumulated other comprehensive (loss) income | (7) | (6) |
Total member's equity | 12,811 | 11,683 |
Total Liabilities and Equity | 44,053 | 39,960 |
Progress Energy | ||
Current Assets | ||
Cash and cash equivalents | 48 | 67 |
Receivables (net of allowance for doubtful accounts) | 220 | 220 |
Receivables of VIEs (net of allowance for doubtful accounts) | 830 | 909 |
Receivables from affiliated companies | 76 | 168 |
Notes receivable from affiliated companies | 164 | |
Inventory | 1,423 | 1,459 |
Regulatory assets (includes amounts related to VIEs) | 946 | 1,137 |
Other (including amounts related to VIEs) | 210 | 125 |
Total current assets | 3,917 | 4,085 |
Property, Plant and Equipment | ||
Cost | 55,070 | 50,260 |
Accumulated depreciation and amortization | (17,159) | (16,398) |
Generation facilities to be retired, net | 246 | 362 |
Net property, plant and equipment | 38,157 | 34,224 |
Other Noncurrent Assets | ||
Goodwill | 3,655 | 3,655 |
Regulatory assets (includes amounts related to VIEs) | 6,346 | 6,564 |
Nuclear decommissioning trust funds | 3,782 | 3,162 |
Operating lease right-of-use assets, net | 788 | |
Other (including amounts related to VIEs) | 1,049 | 974 |
Total other noncurrent assets | 15,620 | 14,355 |
Total Assets | 57,694 | 52,664 |
Current Liabilities | ||
Accounts payable | 1,104 | 1,172 |
Accounts payable to affiliated companies | 310 | 360 |
Notes payable to affiliated companies | 1,821 | 1,235 |
Taxes accrued | 46 | 109 |
Interest accrued | 228 | 246 |
Current maturities of long-term debt (includes amounts related to VIEs) | 1,577 | 1,672 |
Asset retirement obligations | 485 | 514 |
Regulatory liabilities | 330 | 280 |
Other | 902 | 821 |
Total current liabilities | 6,803 | 6,409 |
Long-Term Debt (includes amounts related to VIEs) | 17,907 | 17,089 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 4,462 | 3,941 |
Asset retirement obligations | 5,986 | 4,897 |
Regulatory liabilities | 5,225 | 5,049 |
Operating lease liabilities | 697 | |
Accrued pension and other post-retirement benefit costs | 488 | 521 |
Other (includes amounts related to VIEs) | 383 | 351 |
Total other noncurrent liabilities | 17,241 | 14,759 |
Commitments and Contingencies | ||
Equity | ||
Additional paid-in capital | 9,143 | 9,143 |
Retained earnings | 6,465 | 5,131 |
Accumulated other comprehensive (loss) income | (18) | (20) |
Total Parent stockholders' equity | 15,590 | 14,254 |
Noncontrolling interests | 3 | 3 |
Total equity | 15,593 | 14,257 |
Total Liabilities and Equity | 57,694 | 52,664 |
Duke Energy Progress | ||
Current Assets | ||
Cash and cash equivalents | 22 | 23 |
Receivables (net of allowance for doubtful accounts) | 123 | 75 |
Receivables of VIEs (net of allowance for doubtful accounts) | 489 | 547 |
Receivables from affiliated companies | 52 | 23 |
Inventory | 934 | 954 |
Regulatory assets (includes amounts related to VIEs) | 526 | 703 |
Other (including amounts related to VIEs) | 60 | 62 |
Total current assets | 2,206 | 2,387 |
Property, Plant and Equipment | ||
Cost | 34,603 | 31,459 |
Accumulated depreciation and amortization | (11,915) | (11,423) |
Generation facilities to be retired, net | 246 | 362 |
Net property, plant and equipment | 22,934 | 20,398 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 4,152 | 4,111 |
Nuclear decommissioning trust funds | 3,047 | 2,503 |
Operating lease right-of-use assets, net | 387 | |
Other (including amounts related to VIEs) | 651 | 612 |
Total other noncurrent assets | 8,237 | 7,226 |
Total Assets | 33,377 | 30,011 |
Current Liabilities | ||
Accounts payable | 629 | 660 |
Accounts payable to affiliated companies | 203 | 278 |
Notes payable to affiliated companies | 66 | 294 |
Taxes accrued | 17 | 53 |
Interest accrued | 110 | 116 |
Current maturities of long-term debt (includes amounts related to VIEs) | 1,006 | 603 |
Asset retirement obligations | 485 | 509 |
Regulatory liabilities | 236 | 178 |
Other | 478 | 408 |
Total current liabilities | 3,230 | 3,099 |
Long-Term Debt (includes amounts related to VIEs) | 7,902 | 7,451 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 2,388 | 2,119 |
Asset retirement obligations | 5,408 | 4,311 |
Regulatory liabilities | 4,232 | 3,955 |
Operating lease liabilities | 354 | |
Accrued pension and other post-retirement benefit costs | 238 | 237 |
Investment tax credits | 137 | 142 |
Other (includes amounts related to VIEs) | 92 | 106 |
Total other noncurrent liabilities | 12,849 | 10,870 |
Commitments and Contingencies | ||
Equity | ||
Total member's equity | 9,246 | 8,441 |
Total Liabilities and Equity | 33,377 | 30,011 |
Duke Energy Florida | ||
Current Assets | ||
Cash and cash equivalents | 17 | 36 |
Receivables (net of allowance for doubtful accounts) | 96 | 143 |
Receivables of VIEs (net of allowance for doubtful accounts) | 341 | 362 |
Receivables from affiliated companies | 28 | |
Notes receivable from affiliated companies | 173 | |
Inventory | 489 | 504 |
Regulatory assets (includes amounts related to VIEs) | 419 | 434 |
Other (including amounts related to VIEs) | 58 | 46 |
Total current assets | 1,593 | 1,553 |
Property, Plant and Equipment | ||
Cost | 20,457 | 18,792 |
Accumulated depreciation and amortization | (5,236) | (4,968) |
Net property, plant and equipment | 15,221 | 13,824 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 2,194 | 2,454 |
Nuclear decommissioning trust funds | 734 | 659 |
Operating lease right-of-use assets, net | 401 | |
Other (including amounts related to VIEs) | 311 | 311 |
Total other noncurrent assets | 3,640 | 3,424 |
Total Assets | 20,454 | 18,801 |
Current Liabilities | ||
Accounts payable | 474 | 511 |
Accounts payable to affiliated companies | 131 | 91 |
Notes payable to affiliated companies | 108 | |
Taxes accrued | 43 | 74 |
Interest accrued | 75 | 75 |
Current maturities of long-term debt (includes amounts related to VIEs) | 571 | 270 |
Asset retirement obligations | 5 | |
Regulatory liabilities | 94 | 102 |
Other | 415 | 406 |
Total current liabilities | 1,803 | 1,642 |
Long-Term Debt (includes amounts related to VIEs) | 7,416 | 7,051 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 2,179 | 1,986 |
Asset retirement obligations | 578 | 586 |
Regulatory liabilities | 993 | 1,094 |
Operating lease liabilities | 343 | |
Accrued pension and other post-retirement benefit costs | 218 | 254 |
Other (includes amounts related to VIEs) | 136 | 93 |
Total other noncurrent liabilities | 4,447 | 4,013 |
Commitments and Contingencies | ||
Equity | ||
Member's equity | 6,789 | 6,097 |
Accumulated other comprehensive (loss) income | (1) | (2) |
Total member's equity | 6,788 | 6,095 |
Total Liabilities and Equity | 20,454 | 18,801 |
Duke Energy Ohio | ||
Current Assets | ||
Cash and cash equivalents | 17 | 21 |
Receivables (net of allowance for doubtful accounts) | 84 | 102 |
Receivables from affiliated companies | 92 | 114 |
Inventory | 135 | 126 |
Regulatory assets (includes amounts related to VIEs) | 49 | 33 |
Other (including amounts related to VIEs) | 21 | 24 |
Total current assets | 398 | 420 |
Property, Plant and Equipment | ||
Cost | 10,241 | 9,360 |
Accumulated depreciation and amortization | (2,843) | (2,717) |
Net property, plant and equipment | 7,398 | 6,643 |
Other Noncurrent Assets | ||
Goodwill | 920 | 920 |
Regulatory assets (includes amounts related to VIEs) | 549 | 531 |
Operating lease right-of-use assets, net | 21 | |
Other (including amounts related to VIEs) | 52 | 41 |
Total other noncurrent assets | 1,542 | 1,492 |
Total Assets | 9,338 | 8,555 |
Current Liabilities | ||
Accounts payable | 288 | 316 |
Accounts payable to affiliated companies | 68 | 78 |
Notes payable to affiliated companies | 312 | 274 |
Taxes accrued | 219 | 202 |
Interest accrued | 30 | 22 |
Current maturities of long-term debt (includes amounts related to VIEs) | 551 | |
Asset retirement obligations | 1 | 6 |
Regulatory liabilities | 64 | 57 |
Other | 75 | 74 |
Total current liabilities | 1,057 | 1,580 |
Long-Term Debt (includes amounts related to VIEs) | 2,594 | 1,589 |
Long-Term Debt Payable to Affiliated Companies | 25 | 25 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 922 | 817 |
Asset retirement obligations | 79 | 87 |
Regulatory liabilities | 763 | 840 |
Operating lease liabilities | 21 | |
Accrued pension and other post-retirement benefit costs | 100 | 79 |
Other (includes amounts related to VIEs) | 94 | 93 |
Total other noncurrent liabilities | 1,979 | 1,916 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 762 | 762 |
Additional paid-in capital | 2,776 | 2,776 |
Retained earnings | 145 | (93) |
Total Parent stockholders' equity | 3,683 | 3,445 |
Total Liabilities and Equity | 9,338 | 8,555 |
Duke Energy Indiana | ||
Current Assets | ||
Cash and cash equivalents | 25 | 24 |
Receivables (net of allowance for doubtful accounts) | 60 | 52 |
Receivables from affiliated companies | 79 | 122 |
Inventory | 517 | 422 |
Regulatory assets (includes amounts related to VIEs) | 90 | 175 |
Other (including amounts related to VIEs) | 60 | 35 |
Total current assets | 831 | 830 |
Property, Plant and Equipment | ||
Cost | 16,305 | 15,443 |
Accumulated depreciation and amortization | (5,233) | (4,914) |
Net property, plant and equipment | 11,072 | 10,529 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 1,082 | 982 |
Operating lease right-of-use assets, net | 57 | |
Other (including amounts related to VIEs) | 234 | 194 |
Total other noncurrent assets | 1,373 | 1,176 |
Total Assets | 13,276 | 12,535 |
Current Liabilities | ||
Accounts payable | 201 | 200 |
Accounts payable to affiliated companies | 87 | 83 |
Notes payable to affiliated companies | 30 | 167 |
Taxes accrued | 49 | 43 |
Interest accrued | 58 | 58 |
Current maturities of long-term debt (includes amounts related to VIEs) | 503 | 63 |
Asset retirement obligations | 189 | 109 |
Regulatory liabilities | 55 | 25 |
Other | 112 | 107 |
Total current liabilities | 1,284 | 855 |
Long-Term Debt (includes amounts related to VIEs) | 3,404 | 3,569 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 1,150 | 1,009 |
Asset retirement obligations | 643 | 613 |
Regulatory liabilities | 1,685 | 1,722 |
Operating lease liabilities | 55 | |
Accrued pension and other post-retirement benefit costs | 148 | 115 |
Investment tax credits | 164 | 147 |
Other (includes amounts related to VIEs) | 18 | 16 |
Total other noncurrent liabilities | 3,863 | 3,622 |
Commitments and Contingencies | ||
Equity | ||
Total member's equity | 4,575 | 4,339 |
Total Liabilities and Equity | 13,276 | 12,535 |
Piedmont | ||
Current Assets | ||
Receivables (net of allowance for doubtful accounts) | 241 | 266 |
Receivables from affiliated companies | 10 | 22 |
Inventory | 72 | 70 |
Regulatory assets (includes amounts related to VIEs) | 73 | 54 |
Other (including amounts related to VIEs) | 28 | 19 |
Total current assets | 424 | 431 |
Property, Plant and Equipment | ||
Cost | 8,446 | 7,486 |
Accumulated depreciation and amortization | (1,681) | (1,575) |
Net property, plant and equipment | 6,765 | 5,911 |
Other Noncurrent Assets | ||
Goodwill | 49 | 49 |
Regulatory assets (includes amounts related to VIEs) | 290 | 303 |
Operating lease right-of-use assets, net | 24 | |
Investments in equity method unconsolidated affiliates | 83 | 64 |
Other (including amounts related to VIEs) | 121 | 52 |
Total other noncurrent assets | 567 | 468 |
Total Assets | 7,756 | 6,810 |
Current Liabilities | ||
Accounts payable | 215 | 203 |
Accounts payable to affiliated companies | 3 | 38 |
Notes payable to affiliated companies | 476 | 198 |
Taxes accrued | 24 | 84 |
Interest accrued | 33 | 31 |
Current maturities of long-term debt (includes amounts related to VIEs) | 350 | |
Regulatory liabilities | 81 | 37 |
Other | 67 | 58 |
Total current liabilities | 899 | 999 |
Long-Term Debt (includes amounts related to VIEs) | 2,384 | 1,788 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 708 | 551 |
Asset retirement obligations | 17 | 19 |
Regulatory liabilities | 1,131 | 1,181 |
Operating lease liabilities | 23 | |
Accrued pension and other post-retirement benefit costs | 3 | 4 |
Other (includes amounts related to VIEs) | 148 | 177 |
Total other noncurrent liabilities | 2,030 | 1,932 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 1,310 | 1,160 |
Retained earnings | 1,133 | 931 |
Total Parent stockholders' equity | 2,443 | 2,091 |
Total Liabilities and Equity | $ 7,756 | $ 6,810 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Allowance for doubtful accounts - receivables | $ 22 | $ 16 |
Regulatory Assets: Current | 1,796 | 2,005 |
Current Assets: Other | 764 | 1,049 |
Other Noncurrent Assets: Regulatory assets | 13,222 | 13,617 |
Other Noncurrent Assets: Other | 3,289 | 2,935 |
Current maturities of long-term debt | 3,141 | 3,406 |
Long-Term Debt | 54,985 | 51,123 |
Other Noncurrent Liabilities: Other | $ 1,581 | $ 1,650 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares outstanding | 733,000,000 | 727,000,000 |
Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | $ 54 | $ 55 |
Regulatory Assets: Current | 52 | 52 |
Current Assets: Other | 242 | 162 |
Other Noncurrent Assets: Regulatory assets | 989 | 1,041 |
Other Noncurrent Assets: Other | 110 | 261 |
Current maturities of long-term debt | 216 | 227 |
Long-Term Debt | 3,997 | 3,998 |
Other Noncurrent Liabilities: Other | $ 228 | 212 |
Series A Preferred Stock | ||
Preferred stock, par value (in usd per share) | $ 0.001 | |
Preferred stock, depositary shares authorized | 40,000,000 | |
Preferred stock, depositary shares outstanding | 40,000,000 | |
Series B Preferred Stock | ||
Preferred stock, par value (in usd per share) | $ 0.001 | |
Preferred stock, depositary shares authorized | 1,000,000 | |
Preferred stock, depositary shares outstanding | 1,000,000 | |
Duke Energy Carolinas | ||
Allowance for doubtful accounts - receivables | $ 3 | 2 |
Regulatory Assets: Current | 550 | 520 |
Current Assets: Other | 21 | 72 |
Other Noncurrent Assets: Regulatory assets | 3,360 | 3,457 |
Other Noncurrent Assets: Other | 1,149 | 1,027 |
Current maturities of long-term debt | 458 | 6 |
Long-Term Debt | 11,142 | 10,633 |
Other Noncurrent Liabilities: Other | 627 | 671 |
Duke Energy Carolinas | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 7 | 7 |
Progress Energy | ||
Allowance for doubtful accounts - receivables | 7 | 5 |
Regulatory Assets: Current | 946 | 1,137 |
Current Assets: Other | 210 | 125 |
Other Noncurrent Assets: Regulatory assets | 6,346 | 6,564 |
Other Noncurrent Assets: Other | 1,049 | 974 |
Current maturities of long-term debt | 1,577 | 1,672 |
Long-Term Debt | 17,907 | 17,089 |
Other Noncurrent Liabilities: Other | $ 383 | $ 351 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Progress Energy | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | $ 9 | $ 8 |
Regulatory Assets: Current | 52 | 52 |
Current Assets: Other | 39 | 39 |
Other Noncurrent Assets: Regulatory assets | 989 | 1,041 |
Current maturities of long-term debt | 54 | 53 |
Long-Term Debt | 1,632 | 1,636 |
Duke Energy Progress | ||
Allowance for doubtful accounts - receivables | 3 | 2 |
Regulatory Assets: Current | 526 | 703 |
Current Assets: Other | 60 | 62 |
Other Noncurrent Assets: Regulatory assets | 4,152 | 4,111 |
Other Noncurrent Assets: Other | 651 | 612 |
Current maturities of long-term debt | 1,006 | 603 |
Long-Term Debt | 7,902 | 7,451 |
Other Noncurrent Liabilities: Other | 92 | 106 |
Duke Energy Progress | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 5 | 5 |
Duke Energy Florida | ||
Allowance for doubtful accounts - receivables | 3 | 3 |
Regulatory Assets: Current | 419 | 434 |
Current Assets: Other | 58 | 46 |
Other Noncurrent Assets: Regulatory assets | 2,194 | 2,454 |
Other Noncurrent Assets: Other | 311 | 311 |
Current maturities of long-term debt | 571 | 270 |
Long-Term Debt | 7,416 | 7,051 |
Other Noncurrent Liabilities: Other | 136 | 93 |
Duke Energy Florida | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 4 | 3 |
Regulatory Assets: Current | 52 | 52 |
Current Assets: Other | 39 | 39 |
Other Noncurrent Assets: Regulatory assets | 989 | 1,041 |
Current maturities of long-term debt | 54 | 53 |
Long-Term Debt | 1,307 | 1,336 |
Duke Energy Ohio | ||
Allowance for doubtful accounts - receivables | 4 | 2 |
Regulatory Assets: Current | 49 | 33 |
Current Assets: Other | 21 | 24 |
Other Noncurrent Assets: Regulatory assets | 549 | 531 |
Other Noncurrent Assets: Other | 52 | 41 |
Current maturities of long-term debt | 551 | |
Long-Term Debt | 2,594 | 1,589 |
Other Noncurrent Liabilities: Other | $ 94 | $ 93 |
Common stock, par value | $ 8.50 | $ 8.50 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares outstanding | 90,000,000 | 90,000,000 |
Duke Energy Indiana | ||
Allowance for doubtful accounts - receivables | $ 3 | $ 2 |
Regulatory Assets: Current | 90 | 175 |
Current Assets: Other | 60 | 35 |
Other Noncurrent Assets: Regulatory assets | 1,082 | 982 |
Other Noncurrent Assets: Other | 234 | 194 |
Current maturities of long-term debt | 503 | 63 |
Long-Term Debt | 3,404 | 3,569 |
Other Noncurrent Liabilities: Other | 18 | 16 |
Piedmont | ||
Allowance for doubtful accounts - receivables | 6 | 2 |
Regulatory Assets: Current | 73 | 54 |
Current Assets: Other | 28 | 19 |
Other Noncurrent Assets: Regulatory assets | 290 | 303 |
Other Noncurrent Assets: Other | 121 | 52 |
Current maturities of long-term debt | 350 | |
Long-Term Debt | 2,384 | 1,788 |
Other Noncurrent Liabilities: Other | $ 148 | $ 177 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | $ 3,571 | $ 2,644 | $ 3,064 |
Net Income Attributable to Parent | 3,748 | 2,666 | 3,059 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 5,176 | 4,696 | 4,046 |
Equity component of AFUDC | (139) | (221) | (237) |
Losses (Gains) on sales of other assets | 4 | 88 | (33) |
Impairment charges | (8) | 402 | 282 |
Deferred income taxes | 806 | 1,079 | 1,433 |
Equity in earnings of unconsolidated affiliates | (162) | (83) | (119) |
Accrued pension and other post-retirement benefit costs | 24 | 61 | 8 |
Contributions to qualified pension plans | (77) | (141) | (19) |
Payments for asset retirement obligations | (746) | (533) | (571) |
Payment for the disposal of other assets | (105) | ||
Provision for rate refunds | 60 | 425 | |
Refund of AMT credit carryforwards | 573 | ||
(Increase) decrease in | |||
Net realized and unrealized mark-to-market and hedging transactions | (48) | 22 | 18 |
Receivables | 78 | (345) | (83) |
Inventory | (122) | 156 | 268 |
Other current assets | 10 | (721) | (400) |
Increase (decrease) in | |||
Accounts payable | (164) | 479 | (204) |
Taxes accrued | (224) | 23 | 149 |
Other current liabilities | 172 | 270 | (482) |
Other assets | (520) | (971) | (436) |
Other liabilities | (55) | (39) | (60) |
Net cash provided by (used in) operating activities | 8,209 | 7,186 | 6,624 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (11,122) | (9,389) | (8,052) |
Contributions to equity method investments | (324) | (416) | (414) |
Return of investment capital | 11 | 137 | 281 |
Purchases of debt and equity securities | (3,348) | (3,762) | (4,071) |
Proceeds from sales and maturities of debt and equity securities | 3,343 | 3,747 | 4,098 |
Other | (517) | (377) | (284) |
Net cash used in investing activities | (11,957) | (10,060) | (8,442) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 7,091 | 5,299 | 6,909 |
Net proceeds from Issuance of Preferred Stock and Preference Stock | 1,962 | ||
Proceeds from Issuance of Common Stock | 384 | 1,838 | |
Payments for the redemption of long-term debt | (3,476) | (2,906) | (2,316) |
Proceeds from the issuance of short-term debt with original maturities greater than 90 days | 397 | 472 | 319 |
Payments for the redemption of short-term debt with original maturities greater than 90 days | (479) | (282) | (272) |
Notes payable and commercial paper | (298) | 981 | (409) |
Contributions from noncontrolling interests | 843 | 41 | |
Dividends paid | (2,668) | (2,471) | (2,450) |
Other | (26) | (12) | 1 |
Net cash provided by financing activities | 3,730 | 2,960 | 1,782 |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (18) | 86 | (36) |
Cash, cash equivalents, and restricted cash at beginning of period | 591 | 505 | 541 |
Cash, cash equivalents, and restricted cash at end of period | 573 | 591 | 505 |
Cash and cash equivalents at beginning of period | 442 | ||
Cash and cash equivalents at end of period | 311 | 442 | |
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 2,195 | 2,086 | 1,963 |
Cash (received from) paid for income taxes | (651) | (266) | 4 |
Significant non-cash transactions: | |||
Accrued capital expenditures | 1,356 | 1,112 | 1,032 |
Non-cash dividends | 108 | 107 | |
Duke Energy Carolinas | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net Income Attributable to Parent | 1,403 | 1,071 | 1,214 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,671 | 1,487 | 1,409 |
Equity component of AFUDC | (42) | (73) | (106) |
Losses (Gains) on sales of other assets | 1 | (1) | |
Impairment charges | 17 | 192 | |
Deferred income taxes | 133 | 305 | 410 |
Accrued pension and other post-retirement benefit costs | (5) | 4 | (4) |
Contributions to qualified pension plans | (7) | (46) | |
Payments for asset retirement obligations | (278) | (230) | (271) |
Provision for rate refunds | 36 | 182 | |
(Increase) decrease in | |||
Net realized and unrealized mark-to-market and hedging transactions | (8) | 2 | 9 |
Receivables | (21) | (86) | (9) |
Receivables from affiliated companies | 68 | (87) | 68 |
Inventory | (48) | 25 | 78 |
Other current assets | (73) | (161) | 7 |
Increase (decrease) in | |||
Accounts payable | (50) | 168 | 23 |
Accounts payable to affiliated companies | (20) | 21 | (38) |
Taxes accrued | (127) | (65) | 86 |
Other current liabilities | 127 | 89 | (161) |
Other assets | (31) | (179) | (49) |
Other liabilities | (36) | (90) | (31) |
Net cash provided by (used in) operating activities | 2,709 | 2,530 | 2,634 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (2,714) | (2,706) | (2,524) |
Purchases of debt and equity securities | (1,658) | (1,810) | (2,124) |
Proceeds from sales and maturities of debt and equity securities | 1,658 | 1,810 | 2,128 |
Notes receivable from affiliated companies | 66 | ||
Other | (204) | (147) | (109) |
Net cash used in investing activities | (2,918) | (2,853) | (2,563) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 886 | 1,983 | 569 |
Payments for the redemption of long-term debt | (6) | (1,205) | (116) |
Notes payable to affiliated companies | (410) | 335 | 104 |
Distributions to parent | (275) | (750) | (625) |
Other | (1) | (23) | (1) |
Net cash provided by financing activities | 194 | 340 | (69) |
Net (decrease) increase in cash and cash equivalents | (15) | 17 | 2 |
Cash and cash equivalents at beginning of period | 33 | 16 | 14 |
Cash and cash equivalents at end of period | 18 | 33 | 16 |
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 433 | 452 | 398 |
Cash (received from) paid for income taxes | 122 | 89 | 193 |
Significant non-cash transactions: | |||
Accrued capital expenditures | 347 | 302 | 315 |
Progress Energy | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 1,327 | 1,033 | 1,268 |
Net Income Attributable to Parent | 1,327 | 1,027 | 1,258 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 2,207 | 1,987 | 1,516 |
Equity component of AFUDC | (66) | (104) | (92) |
Losses (Gains) on sales of other assets | (24) | (28) | |
Impairment charges | (24) | 87 | 156 |
Deferred income taxes | 433 | 358 | 703 |
Accrued pension and other post-retirement benefit costs | 20 | 24 | (28) |
Contributions to qualified pension plans | (57) | (45) | |
Payments for asset retirement obligations | (412) | (230) | (248) |
Provision for rate refunds | 15 | 122 | |
(Increase) decrease in | |||
Net realized and unrealized mark-to-market and hedging transactions | (34) | 18 | |
Receivables | 47 | (207) | (89) |
Receivables from affiliated companies | 81 | (137) | 71 |
Inventory | 62 | 121 | 125 |
Other current assets | 184 | (12) | (397) |
Increase (decrease) in | |||
Accounts payable | (4) | 217 | (260) |
Accounts payable to affiliated companies | (50) | 109 | (97) |
Taxes accrued | (74) | 8 | 17 |
Other current liabilities | 25 | 129 | (166) |
Other assets | (336) | (876) | (300) |
Other liabilities | (135) | (34) | (98) |
Net cash provided by (used in) operating activities | 3,209 | 2,544 | 2,053 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (3,952) | (3,854) | (3,152) |
Purchases of debt and equity securities | (1,511) | (1,753) | (1,806) |
Proceeds from sales and maturities of debt and equity securities | 1,504 | 1,769 | 1,824 |
Notes receivable from affiliated companies | (164) | 240 | (160) |
Other | (190) | (162) | (59) |
Net cash used in investing activities | (4,313) | (3,760) | (3,353) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 2,187 | 1,833 | 2,118 |
Payments for the redemption of long-term debt | (1,667) | (771) | (813) |
Notes payable to affiliated companies | 586 | 430 | 100 |
Dividends to parent | (250) | (124) | |
Other | 12 | (1) | (4) |
Net cash provided by financing activities | 1,118 | 1,241 | 1,277 |
Net (decrease) increase in cash, cash equivalents, and restricted cash | 14 | 25 | (23) |
Cash, cash equivalents, and restricted cash at beginning of period | 112 | 87 | 110 |
Cash, cash equivalents, and restricted cash at end of period | 126 | 112 | 87 |
Cash and cash equivalents at beginning of period | 67 | ||
Cash and cash equivalents at end of period | 48 | 67 | |
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 892 | 798 | 773 |
Cash (received from) paid for income taxes | (79) | (348) | (146) |
Significant non-cash transactions: | |||
Accrued capital expenditures | 447 | 478 | 391 |
Equitization of certain notes payable to affiliates | 1,047 | ||
Dividend to parent related to a legal entity restructuring | 547 | ||
Duke Energy Progress | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net Income Attributable to Parent | 805 | 667 | 715 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,329 | 1,183 | 936 |
Equity component of AFUDC | (60) | (57) | (47) |
Losses (Gains) on sales of other assets | (9) | (5) | |
Impairment charges | 12 | 33 | 19 |
Deferred income taxes | 197 | 236 | 384 |
Accrued pension and other post-retirement benefit costs | 4 | 15 | (20) |
Contributions to qualified pension plans | (3) | (25) | |
Payments for asset retirement obligations | (390) | (195) | (192) |
Provision for rate refunds | 12 | 122 | |
(Increase) decrease in | |||
Net realized and unrealized mark-to-market and hedging transactions | (6) | 5 | (4) |
Receivables | 21 | (107) | (58) |
Receivables from affiliated companies | (29) | (20) | 2 |
Inventory | 20 | 63 | 59 |
Other current assets | 101 | (201) | (75) |
Increase (decrease) in | |||
Accounts payable | 32 | 219 | (230) |
Accounts payable to affiliated companies | (75) | 99 | (48) |
Taxes accrued | (46) | (11) | (39) |
Other current liabilities | 68 | 46 | (131) |
Other assets | (198) | (447) | (53) |
Other liabilities | 29 | 12 | (18) |
Net cash provided by (used in) operating activities | 1,823 | 1,628 | 1,195 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (2,108) | (2,220) | (1,715) |
Purchases of debt and equity securities | (842) | (1,236) | (1,249) |
Proceeds from sales and maturities of debt and equity securities | 810 | 1,206 | 1,207 |
Notes receivable from affiliated companies | 165 | ||
Other | (119) | (95) | (51) |
Net cash used in investing activities | (2,259) | (2,345) | (1,643) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 1,269 | 845 | 812 |
Payments for the redemption of long-term debt | (605) | (3) | (470) |
Notes payable to affiliated companies | (228) | 54 | 240 |
Distributions to parent | (175) | (124) | |
Other | (1) | (1) | (1) |
Net cash provided by financing activities | 435 | 720 | 457 |
Net (decrease) increase in cash and cash equivalents | (1) | 3 | 9 |
Cash and cash equivalents at beginning of period | 23 | 20 | 11 |
Cash and cash equivalents at end of period | 22 | 23 | 20 |
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 331 | 303 | 291 |
Cash (received from) paid for income taxes | (30) | (112) | 59 |
Significant non-cash transactions: | |||
Accrued capital expenditures | 175 | 220 | 191 |
Duke Energy Florida | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net Income Attributable to Parent | 692 | 554 | 712 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 869 | 793 | 570 |
Equity component of AFUDC | (6) | (47) | (45) |
Losses (Gains) on sales of other assets | (1) | (1) | |
Impairment charges | (36) | 54 | 138 |
Deferred income taxes | 180 | 159 | 245 |
Accrued pension and other post-retirement benefit costs | 11 | 5 | (13) |
Contributions to qualified pension plans | (53) | (20) | |
Payments for asset retirement obligations | (22) | (35) | (56) |
(Increase) decrease in | |||
Net realized and unrealized mark-to-market and hedging transactions | (33) | 7 | 5 |
Receivables | 26 | (100) | (38) |
Receivables from affiliated companies | 17 | (26) | |
Inventory | 42 | 58 | 66 |
Other current assets | 156 | 59 | (138) |
Increase (decrease) in | |||
Accounts payable | (36) | (1) | (32) |
Accounts payable to affiliated companies | 40 | 17 | (51) |
Taxes accrued | (31) | 40 | 1 |
Other current liabilities | (36) | 82 | (37) |
Other assets | (135) | (428) | (229) |
Other liabilities | (167) | (61) | (82) |
Net cash provided by (used in) operating activities | 1,478 | 1,109 | 1,015 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (1,844) | (1,634) | (1,437) |
Purchases of debt and equity securities | (669) | (517) | (557) |
Proceeds from sales and maturities of debt and equity securities | 695 | 563 | 617 |
Notes receivable from affiliated companies | (173) | 313 | (313) |
Other | (67) | (65) | (7) |
Net cash used in investing activities | (2,058) | (1,340) | (1,697) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 918 | 988 | 1,306 |
Payments for the redemption of long-term debt | (262) | (769) | (342) |
Notes payable to affiliated companies | (108) | 108 | (297) |
Distributions to parent | (75) | ||
Other | 13 | 1 | (1) |
Net cash provided by financing activities | 561 | 253 | 666 |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (19) | 22 | (16) |
Cash, cash equivalents, and restricted cash at beginning of period | 75 | 53 | 69 |
Cash, cash equivalents, and restricted cash at end of period | 56 | 75 | 53 |
Cash and cash equivalents at beginning of period | 36 | ||
Cash and cash equivalents at end of period | 17 | 36 | |
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 332 | 270 | 274 |
Cash (received from) paid for income taxes | 1 | (120) | (197) |
Significant non-cash transactions: | |||
Accrued capital expenditures | 272 | 258 | 199 |
Duke Energy Ohio | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net Income Attributable to Parent | 238 | 176 | 192 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 269 | 271 | 265 |
Equity component of AFUDC | (13) | (11) | (11) |
Losses (Gains) on sales of other assets | 106 | (1) | |
Impairment charges | 1 | ||
Deferred income taxes | 81 | 25 | 90 |
Accrued pension and other post-retirement benefit costs | 2 | 3 | 2 |
Contributions to qualified pension plans | (2) | (4) | |
Payments for asset retirement obligations | (8) | (3) | (7) |
Provision for rate refunds | 7 | 24 | |
(Increase) decrease in | |||
Receivables | 20 | (33) | 2 |
Receivables from affiliated companies | 22 | 19 | (4) |
Inventory | (9) | 7 | 6 |
Other current assets | (5) | 16 | (22) |
Increase (decrease) in | |||
Accounts payable | (17) | (19) | 12 |
Accounts payable to affiliated companies | (10) | 16 | (1) |
Taxes accrued | 17 | 12 | 11 |
Other current liabilities | 1 | 14 | (19) |
Other assets | (22) | (26) | (28) |
Other liabilities | (45) | (27) | (5) |
Net cash provided by (used in) operating activities | 526 | 570 | 479 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (952) | (827) | (686) |
Notes receivable from affiliated companies | 14 | 80 | |
Other | (68) | (89) | (41) |
Net cash used in investing activities | (1,020) | (902) | (647) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 1,003 | 99 | 182 |
Payments for the redemption of long-term debt | (551) | (3) | (2) |
Notes payable to affiliated companies | 38 | 245 | 13 |
Dividends to parent | (25) | ||
Other | (1) | ||
Net cash provided by financing activities | 490 | 341 | 167 |
Net (decrease) increase in cash and cash equivalents | (4) | 9 | (1) |
Cash and cash equivalents at beginning of period | 21 | 12 | 13 |
Cash and cash equivalents at end of period | 17 | 21 | 12 |
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 97 | 87 | 85 |
Cash (received from) paid for income taxes | (37) | (6) | (8) |
Significant non-cash transactions: | |||
Accrued capital expenditures | 109 | 95 | 82 |
Transfer of ownership interest of certain equity method investees to parent | 106 | ||
Duke Energy Indiana | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net Income Attributable to Parent | 436 | 393 | 354 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 531 | 524 | 462 |
Equity component of AFUDC | (18) | (32) | (28) |
Impairment charges | 30 | 18 | |
Deferred income taxes | 156 | 95 | 152 |
Accrued pension and other post-retirement benefit costs | 6 | 7 | 2 |
Contributions to qualified pension plans | (2) | (8) | |
Payments for asset retirement obligations | (48) | (69) | (45) |
Provision for rate refunds | 53 | ||
(Increase) decrease in | |||
Receivables | (8) | 7 | 59 |
Receivables from affiliated companies | 41 | 3 | (11) |
Inventory | (95) | 28 | 54 |
Other current assets | 76 | (25) | 28 |
Increase (decrease) in | |||
Accounts payable | (10) | 37 | (86) |
Accounts payable to affiliated companies | 4 | 5 | 4 |
Taxes accrued | (25) | (52) | 64 |
Other current liabilities | 15 | 14 | (10) |
Other assets | (71) | 29 | (28) |
Other liabilities | 9 | (33) | (20) |
Net cash provided by (used in) operating activities | 997 | 1,006 | 969 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (876) | (832) | (840) |
Purchases of debt and equity securities | (26) | (48) | (20) |
Proceeds from sales and maturities of debt and equity securities | 20 | 44 | 7 |
Notes receivable from affiliated companies | 86 | ||
Other | (49) | 18 | (65) |
Net cash used in investing activities | (931) | (818) | (832) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 485 | ||
Payments for the redemption of long-term debt | (213) | (3) | (5) |
Notes payable to affiliated companies | (137) | 6 | 161 |
Distributions to parent | (200) | (175) | (300) |
Other | (1) | (1) | |
Net cash provided by financing activities | (65) | (173) | (145) |
Net (decrease) increase in cash and cash equivalents | 1 | 15 | (8) |
Cash and cash equivalents at beginning of period | 24 | 9 | 17 |
Cash and cash equivalents at end of period | 25 | 24 | 9 |
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 150 | 162 | 179 |
Cash (received from) paid for income taxes | (6) | 75 | 117 |
Significant non-cash transactions: | |||
Accrued capital expenditures | 102 | 88 | 125 |
Piedmont | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net Income Attributable to Parent | 202 | 129 | 139 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 174 | 161 | 151 |
Impairment charges | 7 | ||
Deferred income taxes | 136 | (31) | 154 |
Equity in earnings of unconsolidated affiliates | (8) | (7) | 6 |
Accrued pension and other post-retirement benefit costs | (9) | (4) | 23 |
Contributions to qualified pension plans | (1) | (11) | |
Provision for rate refunds | 2 | 43 | |
(Increase) decrease in | |||
Receivables | 28 | 7 | (40) |
Receivables from affiliated companies | 12 | (15) | |
Inventory | (2) | (4) | |
Other current assets | (25) | 71 | (20) |
Increase (decrease) in | |||
Accounts payable | (7) | 15 | (13) |
Accounts payable to affiliated companies | (35) | 25 | 5 |
Taxes accrued | (60) | 65 | (48) |
Other current liabilities | 1 | 21 | (9) |
Other assets | 9 | 6 | 7 |
Other liabilities | (8) | (4) | (2) |
Net cash provided by (used in) operating activities | 409 | 478 | 349 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditures | (1,053) | (721) | (585) |
Contributions to equity method investments | (16) | (12) | |
Return of investment capital | 4 | 3 | 2 |
Other | (14) | (10) | (6) |
Net cash used in investing activities | (1,083) | (731) | (603) |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 596 | 100 | 250 |
Payments for the redemption of long-term debt | (350) | (35) | |
Notes payable and commercial paper | (330) | ||
Notes payable to affiliated companies | 278 | (166) | 364 |
Contribution from parent | 150 | 300 | |
Other | (1) | ||
Net cash provided by financing activities | 674 | 234 | 248 |
Net (decrease) increase in cash and cash equivalents | (19) | (6) | |
Cash and cash equivalents at beginning of period | 19 | 25 | |
Cash and cash equivalents at end of period | 19 | ||
Supplemental Disclosures: | |||
Cash paid for interest, net of amount capitalized | 84 | 79 | 78 |
Cash (received from) paid for income taxes | (31) | (16) | (12) |
Significant non-cash transactions: | |||
Accrued capital expenditures | $ 109 | $ 96 | 34 |
Transfer of ownership interest of certain equity method investees to parent | $ 149 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Millions | Total | Preferred Stock | Common Stock | Additional Paid In Capital | Retained Earnings | Net Gains (Losses) on Cash Flow Hedges | Net Gains (Losses) on Cash Flow Hedges | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Pension and OPEB Adjustments | Common Stockholders' Equity | Noncontrolling Interests | Duke Energy Carolinas | Duke Energy CarolinasMembers Equity | Duke Energy CarolinasNet Gains (Losses) on Cash Flow Hedges | Duke Energy CarolinasNet Gains (Losses) on Cash Flow Hedges | Progress Energy | Progress EnergyAdditional Paid In Capital | Progress EnergyRetained Earnings | Progress EnergyNet Gains (Losses) on Cash Flow Hedges | Progress EnergyNet Gains (Losses) on Cash Flow Hedges | Progress EnergyNet Unrealized Gains (Losses) on Available-for-Sale Securities | Progress EnergyPension and OPEB Adjustments | Progress EnergyCommon Stockholders' Equity | Progress EnergyNoncontrolling Interests | Duke Energy Progress | Duke Energy ProgressMembers Equity | Duke Energy Florida | Duke Energy FloridaMembers Equity | Duke Energy FloridaNet Unrealized Gains (Losses) on Available-for-Sale Securities | Duke Energy Ohio | Duke Energy OhioCommon Stock | Duke Energy OhioAdditional Paid In Capital | Duke Energy OhioRetained Earnings | Duke Energy Indiana | Duke Energy IndianaMembers Equity | Piedmont | PiedmontCommon Stock | PiedmontRetained Earnings | Series A Preferred Stock | [7] | Series A Preferred StockPreferred Stock | [7] | Series A Preferred StockCommon Stockholders' Equity | [7] | Series B Preferred Stock | [8] | Series B Preferred StockPreferred Stock | [8] | Series B Preferred StockCommon Stockholders' Equity | [8] | |||||||||||||||||||
Beginning Balance (parent) at Dec. 31, 2016 | $ 41,041 | $ 1 | $ 38,741 | $ 2,384 | $ (20) | $ (1) | $ (72) | $ 41,033 | $ 8 | $ 11,807 | $ 8,094 | $ 3,764 | $ (23) | $ 1 | $ (16) | $ 11,820 | $ (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Members' Equity at Dec. 31, 2016 | $ 10,772 | $ 10,781 | $ (9) | $ 7,358 | $ 4,900 | $ 4,899 | $ 1 | $ 4,067 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (Attributable to Parent) at Dec. 31, 2016 | $ 2,996 | $ 762 | $ 2,695 | $ (461) | $ 1,672 | $ 860 | $ 812 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2016 | 700,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 3,064 | 3,059 | 3,059 | 5 | 1,268 | 1,258 | 1,258 | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Parent | 3,059 | 1,214 | 1,214 | 1,258 | $ 715 | 715 | 712 | 712 | 192 | 192 | $ 354 | 354 | 139 | 139 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 26 | [1] | $ 10 | 13 | 3 | 26 | 2 | $ 2 | 13 | $ 5 | 4 | 4 | 13 | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | 51 | 51 | 51 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions/Dividends to parent | (2,450) | (2,450) | (2,450) | (625) | (625) | (672) | [2] | (672) | [2] | (672) | [2] | (124) | (25) | (25) | (300) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (2) | (2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equitization of certain notes payable to affiliates | 1,047 | 1,047 | 1,047 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 7 | [3] | 20 | [3] | 20 | [3] | (13) | [3] | (2) | (2) | 2 | 2 | 2 | 3 | 3 | (149) | (149) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 700,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Dec. 31, 2017 | 41,737 | $ 1 | 38,792 | 3,013 | $ (10) | 12 | (69) | 41,739 | (2) | 13,465 | 9,143 | 4,350 | $ (18) | 5 | (12) | 13,468 | (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending member's equity at Dec. 31, 2017 | 11,361 | 11,368 | $ (7) | 7,949 | 5,618 | 5,614 | 4 | 4,121 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (Attributable to Parent) at Dec. 31, 2017 | 3,163 | 762 | 2,670 | (269) | 1,662 | 860 | 802 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 2,644 | 2,666 | 2,666 | (22) | 1,033 | 1,027 | 1,027 | 6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Parent | 2,666 | 1,071 | 1,071 | 1,027 | 667 | 667 | 554 | 554 | 176 | 176 | 393 | 393 | 129 | 129 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from parent | $ 106 | 106 | (300) | (300) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (13) | [1] | (4) | (3) | (6) | (13) | 1 | 1 | 10 | 6 | (1) | 5 | 10 | (1) | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, shares | 27,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | 2,003 | 2,003 | 2,003 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions/Dividends to parent | (2,578) | (2,578) | (2,578) | (750) | (750) | (250) | (250) | (250) | (175) | (75) | (75) | (175) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from parent | $ 300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (1) | (1) | (1) | (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | $ 42 | [4] | 12 | [4] | (12) | [4] | 42 | [4] | $ 0 | [5] | 0 | [5] | 4 | [5] | (5) | [5] | (1) | [5] | 1 | [5] | (1) | [6] | 4 | [6] | (5) | [6] | |||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 727,000,000 | 727,000,000 | 100 | 90,000,000 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Dec. 31, 2018 | $ 43,834 | $ 1 | 40,795 | 3,113 | (14) | (3) | (75) | 43,817 | 17 | $ 14,257 | 9,143 | 5,131 | (12) | (1) | (7) | 14,254 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending member's equity at Dec. 31, 2018 | 11,683 | 11,689 | (6) | 8,441 | 8,441 | 6,095 | 6,097 | (2) | 4,339 | 4,339 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (Attributable to Parent) at Dec. 31, 2018 | 43,817 | 14,254 | $ 3,445 | 762 | 2,776 | (93) | $ 2,091 | 1,160 | 931 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 3,571 | 1,327 | 1,327 | 1,327 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 3,530 | 3,707 | 3,707 | (177) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Parent | 3,748 | 1,403 | 1,403 | 1,327 | 805 | 805 | 692 | 692 | $ 238 | 238 | 436 | 436 | 202 | 202 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from parent | (150) | (150) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (24) | [1] | (41) | 8 | 9 | (24) | 8 | 5 | 1 | 2 | 8 | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, shares | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | 552 | 552 | 552 | $ 973 | $ 973 | $ 973 | $ 989 | $ 989 | $ 989 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions/Dividends to parent | (2,735) | (2,735) | (2,735) | (275) | (275) | (200) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from parent | $ 150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sale of noncontrolling interest | [9] | 407 | (466) | 10 | (456) | 863 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from noncontrolling interest | 428 | 428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (4) | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | $ 1 | [10] | 23 | [10] | (6) | [10] | (2) | [10] | (16) | [10] | (1) | [10] | 2 | [10] | 0 | 1 | (1) | $ 1 | [11] | 7 | [11] | (3) | [11] | (1) | [11] | (2) | [11] | 1 | [11] | ||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 733,000,000 | 733,000,000 | 100 | 90,000,000 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Dec. 31, 2019 | $ 47,951 | $ 1,962 | $ 1 | $ 40,881 | $ 4,108 | $ (51) | $ 3 | $ (82) | $ 46,822 | $ 1,129 | $ 15,593 | $ 9,143 | $ 6,465 | $ (10) | $ (1) | $ (7) | $ 15,590 | $ 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ending member's equity at Dec. 31, 2019 | $ 12,811 | $ 12,818 | $ (7) | $ 9,246 | $ 9,246 | $ 6,788 | $ 6,789 | $ (1) | $ 4,575 | $ 4,575 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (Attributable to Parent) at Dec. 31, 2019 | $ 46,822 | $ 15,590 | $ 3,683 | $ 762 | $ 2,776 | $ 145 | $ 2,443 | $ 1,310 | $ 1,133 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Tax impacts are insignificant for all periods presented. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Includes a $547 million | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Retained Earnings relates to a cumulative-effect adjustment due to implementation of a new accounting standard related to stock-based compensation and the associated income taxes. See Note 1 to the Consolidated Financial Statements for additional information. Noncontrolling Interests relates to the purchase of remaining interest in REC Solar. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Amounts in Retained Earnings and AOCI represent a cumulative-effect adjustment due to implementation of a new accounting standard related to Financial Instruments Classification and Measurement. See Note 1 for more information. Amount in Noncontrolling Interests primarily relates to tax equity financing activity in the Commercial Renewables segment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Amounts in Retained Earnings and AOCI represent a cumulative-effect adjustment due to implementation of a new accounting standard related to Financial Instruments Classification and Measurement. See Note 1 for more information. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Amounts represent a cumulative-effect adjustment due to implementation of a new accounting standard related to Financial Instruments Classification and Measurement. See Note 1 for more information. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | Duke Energy issued 40 million depositary shares of preferred stock, series A, in the first quarter of 2019. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | Duke Energy issued 1 million shares of preferred stock, series B, in the third quarter of 2019. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | See Note 3 for additional discussion of the transaction. (f) Amounts in Retained Earnings and AOCI primarily represent impacts to accumulated other comprehensive income due to implementation of a new accounting standard related to Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | Amounts in Retained Earnings and AOCI primarily represent impacts to accumulated other comprehensive income due to implementation of a new accounting standard related to Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | Amounts in Retained Earnings and AOCI primarily represent impacts to accumulated other comprehensive income due to implementation of a new accounting standard related to Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. |
Consolidated Statements of Eq_2
Consolidated Statements of Equity (Parentheticals) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2017 | |
Progress Energy | |||
Non-cash dividend | $ 547 | ||
Preferred Stock | Series A Preferred Stock | |||
Stock issuances, shares | 40 | ||
Preferred Stock | Series B Preferred Stock | |||
Stock issuances, shares | 1 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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 table indicates the registrants to which the notes apply. 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 26 27 Duke Energy • • • • • • • • • • • • • • • • • • • • • • • • • • Duke Energy Carolinas • • • • • • • • • • • • • • • • • • • • • • • Progress Energy • • • • • • • • • • • • • • • • • • • • • • Duke Energy Progress • • • • • • • • • • • • • • • • • • • • • • Duke Energy Florida • • • • • • • • • • • • • • • • • • • • • • Duke Energy Ohio • • • • • • • • • • • • • • • • • • • • • Duke Energy Indiana • • • • • • • • • • • • • • • • • • • • • • • Piedmont • • • • • • • • • • • • • • • • • • • • • • Tables within the notes may not sum across due to (i) Progress Energy's consolidation of Duke Energy Progress, Duke Energy Florida and other subsidiaries that are not registrants and (ii) subsidiaries that are not registrants but included in the consolidated Duke Energy balances. Nature of Operations and Basis of Consolidation Duke Energy is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also subsidiary registrants, including Duke Energy Carolinas; Progress Energy; Duke Energy Progress; Duke Energy Florida; Duke Energy Ohio; Duke Energy Indiana and Piedmont. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke Energy Registrants. The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Consolidated Financial Statements. However, none of the Subsidiary Registrants make any representation as to information related solely to Duke Energy or the Subsidiary Registrants 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 or VIEs where the respective Duke Energy Registrants have control. See Note 18 for additional information on VIEs. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. See Note 9 for additional information on joint ownership. Substantially all of the Subsidiary Registrants' operations qualify for regulatory accounting. 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 NCUC, PSCSC, NRC and FERC. Progress Energy is a public utility holding company, which conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Progress Energy is subject to regulation by FERC and other regulatory agencies listed below. 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. 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 FPSC, NRC and FERC. 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 conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered 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. References herein to Duke Energy Ohio collectively include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the PUCO, KPSC and FERC. 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 IURC and FERC. Piedmont is a regulated public utility primarily engaged in the distribution of natural gas in portions of North Carolina, South Carolina and Tennessee. Piedmont is subject to the regulatory provisions of the NCUC, PSCSC, TPUC and FERC. Certain prior year amounts have been reclassified to conform to the current year presentation. Other Current Assets and Liabilities The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2019 , or 2018 . December 31, (in millions) Location 2019 2018 Duke Energy Taxes receivable Current Assets $ 357 $ 729 Accrued compensation Current Liabilities 862 793 Duke Energy Carolinas Accrued compensation Current Liabilities $ 271 $ 251 Other accrued liabilities Current Liabilities 147 55 Progress Energy Customer deposits Current Liabilities $ 354 $ 345 Duke Energy Florida Customer deposits Current Liabilities $ 209 $ 208 Other accrued liabilities Current Liabilities 89 85 Duke Energy Indiana Income taxes receivable Current Assets $ 44 $ 9 Customer deposits Current Liabilities 49 47 Discontinued 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. See Note 2 for additional information. Amounts Attributable to Controlling Interests For the years ended December 31, 2019 , 2018 and 2017 , the Income (Loss) From Discontinued Operations, net of tax on Duke Energy's Consolidated Statements of Operations is entirely attributable to controlling interest. Noncontrolling Interest Duke Energy maintains a controlling financial interest in certain less-than wholly owned non-regulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Consolidated Balance Sheet. Several operating agreements of Duke Energy's subsidiaries with noncontrolling interest are subject to allocations of tax attributes and cash flows in accordance with contractual agreements that vary throughout the lives of the subsidiaries. Therefore, Duke Energy and the other investors' (the owners) interests in the subsidiaries are not fixed, and the subsidiaries apply the HLBV method in allocating income or loss and other comprehensive income or loss (all measured on a pretax basis) to the owners. The HLBV method measures the amounts that each owner would hypothetically claim at each balance sheet reporting date, including tax benefits realized by the owners, upon a hypothetical liquidation of the subsidiary at the net book value of its underlying assets. The change in the amount that each owner would hypothetically receive at the reporting date compared to the amount it would have received on the previous reporting date represents the amount of income or loss allocated to each owner for the reporting period. During 2019, Duke Energy received $428 million for the sale of noncontrolling interests to tax equity members subject to the HLBV method for projects totaling 718 MW in nameplate capacity. Duke Energy allocated approximately $165 million of losses to noncontrolling tax equity members utilizing the HLBV method for the year ended December 31, 2019 . Other operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares. During the third quarter of 2019, Duke Energy completed a sale of minority interest in a portion of certain renewable assets to John Hancock. John Hancock's ownership interest in the assets represents a noncontrolling interest. See Note 2 for additional information on the sale. Significant Accounting Policies Use of Estimates In preparing financial statements that conform to GAAP, 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 natural 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 natural 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. For example, if a cost cap is set for a plant still under construction, the amount of the disallowance is a result of a judgment as to the ultimate cost of the plant. These 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 partially or fully offset by the establishment of a regulatory asset if rate recovery is probable. The impairment charge for a disallowance of costs for regulated plants under construction, recently completed or abandoned is based on discounted cash flows. The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses or PGA clauses. These clauses allow for the recovery of fuel and fuel-related costs, portions of purchased power, natural gas costs and hedging 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, Operating Expenses – Fuel used in electric generation or Operating Expenses – Cost of natural gas on the Consolidated Statements of Operations, with an off-setting impact on regulatory assets or liabilities. Cash, Cash Equivalents and Restricted Cash All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Note 18 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 Duke Duke Duke Progress Energy Duke Progress Energy Energy Energy Florida Energy Energy Florida Current Assets Cash and cash equivalents $ 311 $ 48 $ 17 $ 442 $ 67 $ 36 Other 222 39 39 141 39 39 Other Noncurrent Assets Other 40 39 — 8 6 — Total cash, cash equivalents and restricted cash $ 573 $ 126 $ 56 $ 591 $ 112 $ 75 Inventory Inventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written-down to the lower of cost or net realizable value. Once inventory has been written-down, it creates a new cost basis for the inventory that is not subsequently written-up. Provisions for inventory write-offs were not material at December 31, 2019 , and 2018 , respectively. The components of inventory are presented in the tables below. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,297 $ 768 $ 1,038 $ 686 $ 351 $ 79 $ 318 $ 5 Coal 586 187 186 138 48 15 198 — Natural gas, oil and other 349 41 199 110 90 41 1 67 Total inventory $ 3,232 $ 996 $ 1,423 $ 934 $ 489 $ 135 $ 517 $ 72 December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,238 $ 731 $ 1,049 $ 734 $ 315 $ 84 $ 312 $ 2 Coal 491 175 192 106 86 14 109 — Natural gas, oil and other 355 42 218 114 103 28 1 68 Total inventory $ 3,084 $ 948 $ 1,459 $ 954 $ 504 $ 126 $ 422 $ 70 Investments in Debt and Equity Securities The Duke Energy Registrants classify investments in equity securities as FV-NI and investments in debt securities as AFS. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on securities classified as FV-NI are reported through net income. Unrealized gains and losses for debt securities classified as AFS are included in AOCI until realized, except OTTIs that are included in earnings immediately. At the time gains and losses for debt securities are realized, they are reported through net income. For certain investments of regulated operations, such as substantially all of the NDTF, realized and unrealized gains and losses (including any OTTIs) on debt securities are recorded as a regulatory asset or liability. 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 16 for further information. Goodwill Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be a business segment or one level below. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont 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. See Note 12 for further information. Intangible Assets Intangible assets are included in Other in Other Noncurrent 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 SO 2 and NO X . Allowances are issued by the 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. Emission allowances are expensed to Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. RECs are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 12 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 advisors. Triggering events to reassess cash flows may include, but are not limited to, significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset. Equity Method Investment Impairments Investments in affiliates that are not controlled by Duke Energy, but over which it has significant influence, are accounted for using the equity method. Equity method investments are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. If the decline in value is considered to be other than temporary, the investment is written down to its estimated fair value, which establishes a new cost basis in the investment. Impairment assessments use a discounted cash flow income approach and include consideration of the severity and duration of any decline in the fair value of the investments. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. Key inputs that involve estimates and significant management judgment include cash flow projections, selection of a discount rate, probability weighting of potential outcomes, and whether any decline in value is considered temporary. 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 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, 2019 2018 2017 Duke Energy 3.1 % 3.0 % 2.8 % Duke Energy Carolinas 2.8 % 2.8 % 2.8 % Progress Energy 3.1 % 2.9 % 2.6 % Duke Energy Progress 3.1 % 2.9 % 2.6 % Duke Energy Florida 3.1 % 3.0 % 2.8 % Duke Energy Ohio 2.6 % 2.8 % 2.8 % Duke Energy Indiana 3.3 % 3.3 % 3.0 % Piedmont 2.4 % 2.5 % 2.3 % In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the 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 if deemed recoverable (see discussion of long-lived asset impairments above). 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 11 for additional information. Nuclear Fuel Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets. 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 on 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 ETR when capitalized and increases the ETR when depreciated or amortized. See Note 24 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 AROs are recognized for legal obligations associated with the retirement of property, plant and equipment. Substantially all AROs are related to regulated operations. When recording an ARO, 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 unless determined not to be probable of recovery. 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 ARO 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 netted and 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. In 2019, Duke Energy Florida entered into an agreement for the accelerated decommissioning of Crystal River Unit 3. See Note 4 for more information. 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 yet to be built 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 10 for additional information. Revenue Recognition Duke Energy recognizes revenue as customers obtain control of promised goods and services in an amount that reflects consideration expected in exchange for those goods or services. Generally, the delivery of electricity and natural gas results in the transfer of control to customers at the time the commodity is delivered and the amount of revenue recognized is equal to the amount billed to each customer, including estimated volumes delivered when billings have not yet occurred. See Note 19 for further information. Derivatives and Hedging Derivative and non-derivative instruments may be used in connection with commodity price and interest rate activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the 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 15 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 financial losses, primarily related to property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not 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 Premiums, discounts and expenses incurred with the issuance of outstanding long-term debt are amortized over the term of the debt issue. The gain or loss on extinguishment associated with refinancing higher-cost debt obligations in the regulated operations is amortized over the remaining life of the original instrument. 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. Premiums, discounts and expenses are presented as an adjustment to the carrying value of the debt amount and included in Long-Term Debt on the Consolidated Balance Sheets presented. Preferred Stock Preferred stock is reviewed to determine the appropriate balance sheet classification and embedded features, such as call options, are evaluated to determine if they should be bifurcated and accounted for separately. Costs directly related to the issuance of preferred stock is recorded as a reduction of the proceeds received. The liability for the dividend is recognized when declared. The accumulated dividends on the cumulative preferred stock is recognized to net income available to Duke Energy Corporation in the EPS calculation. See Note 20 for further information. 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 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 23 for further information, including significant accounting policies associated with these plans |
Acquisitions and Dispositions
Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2019 | |
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. 2016 Acquisition of Piedmont Natural Gas On October 3, 2016, Duke Energy acquired all outstanding common stock of Piedmont for a total cash purchase price of $5 billion and assumed Piedmont's existing long-term debt, which had a fair value of approximately $2 billion at the time of the acquisition. The acquisition provides a foundation for Duke Energy to establish a broader, long-term strategic natural gas infrastructure platform to complement its existing natural gas pipeline investments and regulated natural gas business in the Midwest. In connection with the closing of the acquisition, Piedmont became a wholly owned subsidiary of Duke Energy. Accounting Charges Related to the Acquisition Duke Energy incurred pretax transaction and integration costs associated with the acquisition of $84 million and $103 million for the years ended December 31, 2018, and 2017, respectively. Amounts recorded on the Consolidated Statements of Operations in 2018 and 2017 were primarily system integration costs of $78 million and $71 million , respectively, related to combining the various operational and financial systems of Duke Energy and Piedmont, including a one-time software impairment resulting from planned accounting system and process integration in 2017. A $7 million charge was recorded within Impairment Charges, with the remaining $64 million recorded within Operation, maintenance and other in 2017. The majority of transition and integration activities were completed by the end of 2018. DISPOSITIONS On April 24, 2019, Duke Energy executed an agreement to sell a minority interest in a portion of certain renewable assets within the Commercial Renewables segment. The sale closed on September 6, 2019, and resulted in pretax proceeds to Duke Energy of $415 million . The portion of Duke Energy’s commercial renewables energy portfolio sold includes 49% of 37 operating wind, solar and battery storage assets and 33% of 11 operating solar assets across the U.S. Duke Energy retained control of these assets, and, therefore, no gain or loss was recognized on the Consolidated Statements of Operations. The difference between the consideration received and the carrying value of the noncontrolling interest claim on net assets is $466 million , net of a tax benefit of $8 million , and was recorded in equity. |
Business Segments
Business Segments | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Business Segments | BUSINESS SEGMENTS Reportable segments are determined based on information used by the chief operating decision-maker in deciding how to allocate resources and evaluate the performance of the business. 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 on 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. 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's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The regulated electric utilities conduct operations through the Subsidiary Registrants that are substantially all regulated and, accordingly, qualify for regulatory accounting treatment. Electric Utilities and Infrastructure also includes Duke Energy's electric transmission infrastructure investments. The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky, and Duke Energy's natural gas storage and midstream pipeline investments. Gas Utilities and Infrastructure's operations are substantially all regulated and, accordingly, qualify for regulatory accounting treatment. The Commercial Renewables segment is primarily comprised of nonregulated utility-scale wind and solar generation assets located throughout the U.S. On April 24, 2019, Duke Energy executed an agreement to sell a minority interest in a portion of certain renewable assets. See Note 2 for additional information on the minority interest sale. The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs and Duke Energy’s wholly owned captive insurance company, Bison. Other also includes Duke Energy's interest in NMC. See Note 13 for additional information on the investment in NMC. Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets. Year Ended December 31, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated Revenues $ 22,798 $ 1,770 $ 487 $ 25,055 $ 24 $ — $ 25,079 Intersegment Revenues 33 96 — 129 71 (200 ) — Total Revenues $ 22,831 $ 1,866 $ 487 $ 25,184 $ 95 $ (200 ) $ 25,079 Interest Expense $ 1,345 $ 117 $ 95 $ 1,557 $ 705 $ (58 ) $ 2,204 Depreciation and amortization 3,951 256 168 4,375 178 (5 ) 4,548 Equity in earnings (losses) of unconsolidated affiliates 9 114 (4 ) 119 43 — 162 Income tax expense (benefit) 785 22 (115 ) 692 (173 ) — 519 Segment income (loss) (a)(b) 3,536 432 198 4,166 (452 ) — 3,714 Add back noncontrolling interest (c) (177 ) Add back preferred stock dividend 41 Loss from discontinued operations, net of tax (7 ) Net income $ 3,571 Capital investments expenditures and acquisitions $ 8,263 $ 1,539 $ 1,423 $ 11,225 $ 221 $ — $ 11,446 Segment assets 135,561 13,921 6,020 155,502 3,148 188 158,838 (a) Electric Utilities and Infrastructure includes a $27 million reduction of a prior year impairment at Citrus County CC related to the plant's cost cap. See Note 4 for additional information. (b) Gas Utilities and Infrastructure includes an after-tax impairment charge of $19 million for the remaining investment in Constitution. See Note 13 for additional information. (c) Includes the allocation of losses to noncontrolling tax equity members. See Note 1 for additional information. Year Ended December 31, 2018 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated Revenues $ 22,242 $ 1,783 $ 477 $ 24,502 $ 19 $ — $ 24,521 Intersegment Revenues 31 98 — 129 70 (199 ) — Total Revenues $ 22,273 $ 1,881 $ 477 $ 24,631 $ 89 $ (199 ) $ 24,521 Interest Expense $ 1,288 $ 106 $ 88 $ 1,482 $ 657 $ (45 ) $ 2,094 Depreciation and amortization 3,523 245 155 3,923 152 (1 ) 4,074 Equity in earnings (losses) of unconsolidated affiliates 5 27 (1 ) 31 52 — 83 Income tax expense (benefit) (a) 799 78 (147 ) 730 (282 ) — 448 Segment income (loss) (b)(c)(d)(e) 3,058 274 9 3,341 (694 ) — 2,647 Add back noncontrolling interest component (22 ) Loss from discontinued operations, net of tax 19 Net income $ 2,644 Capital investments expenditures and acquisitions $ 8,086 $ 1,133 $ 193 $ 9,412 $ 256 $ — $ 9,668 Segment assets 125,364 12,361 4,204 141,929 3,275 188 145,392 (a) All segments include adjustments to the December 31, 2017, estimate of the income tax effects of the Tax Act. Electric Utilities and Infrastructure includes a $24 million expense, Gas Utilities and Infrastructure includes a $1 million expense, Commercial Renewables includes a $3 million benefit and Other includes a $2 million benefit. See Note 24 for additional information. (b) Electric Utilities and Infrastructure includes after-tax regulatory and legislative impairment charges of $202 million related to rate case orders, settlements or other actions of regulators or legislative bodies and an after-tax impairment charge of $46 million related to the Citrus County CC at Duke Energy Florida. See Note 4 for additional information. (c) Gas Utilities and Infrastructure includes an after-tax impairment charge of $42 million for the investment in Constitution. See Note 13 for additional information. (d) Commercial Renewables includes an impairment charge of $91 million , net of $2 million Noncontrolling interests, related to goodwill. See Note 12 for additional information. (e) Other includes $65 million of after-tax costs to achieve the Piedmont merger, $144 million of after-tax severance charges related to a companywide initiative and an $82 million after-tax loss on the sale of Beckjord described below. For additional information, see Note 2 for the Piedmont Merger and Note 21 for severance charges. In February 2018, Duke Energy sold Beckjord, a nonregulated facility retired during 2014, and recorded a pretax loss of $106 million within (Losses) Gains on Sales of Other Assets and Other, net and $1 million within Operation, maintenance and other on Duke Energy's Consolidated Statements of Operations for the year ended December 31, 2018. The sale included the transfer of coal ash basins and other real property and indemnification from any and all potential future claims related to the property, whether arising under environmental laws or otherwise. Year Ended December 31, 2017 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated Revenues $ 21,300 $ 1,743 $ 460 $ 23,503 $ 62 $ — $ 23,565 Intersegment Revenues 31 93 — 124 76 (200 ) — Total Revenues $ 21,331 $ 1,836 $ 460 $ 23,627 $ 138 $ (200 ) $ 23,565 Interest Expense $ 1,240 $ 105 $ 87 $ 1,432 $ 574 $ (20 ) $ 1,986 Depreciation and amortization 3,010 231 155 3,396 131 — 3,527 Equity in earnings (losses) of unconsolidated affiliates 5 62 (5 ) 62 57 — 119 Income tax expense (benefit) (a) 1,355 116 (628 ) 843 353 — 1,196 Segment income (loss) (b)(c)(d) 3,210 319 441 3,970 (905 ) — 3,065 Add back noncontrolling interest component 5 Loss from discontinued operations, net of tax (6 ) Net income $ 3,064 Capital investments expenditures and acquisitions $ 7,024 $ 907 $ 92 $ 8,023 $ 175 $ — $ 8,198 Segment assets 119,423 11,462 4,156 135,041 2,685 188 137,914 (a) All segments include impacts of the Tax Act. Electric Utilities and Infrastructure includes a $231 million benefit, Gas Utilities and Infrastructure includes a $26 million benefit, Commercial Renewables includes a $442 million benefit and Other includes charges of $597 million . (b) Electric Utilities and Infrastructure includes after-tax regulatory settlement charges of $98 million . (c) Commercial Renewables includes after-tax impairment charges of $74 million related to certain wind projects and the Energy Management Solutions reporting unit. See Notes 11 and 12 for additional information. (d) Other includes $64 million of after-tax costs to achieve the Piedmont merger. See Note 2 for additional information. Geographical Information Substantially all assets and revenues from continuing operations are within the U.S. Major Customers For the year ended December 31, 2019 , revenues from one customer of Duke Energy Progress are $635 million . Duke Energy Progress has one reportable segment, Electric Utilities and Infrastructure. No other Subsidiary Registrant has an individual customer representing more than 10% of its revenues. Products and Services The following table summarizes revenues of the reportable segments by type. Retail Wholesale Retail Total (in millions) Electric Electric Natural Gas Other Revenues 2019 Electric Utilities and Infrastructure $ 19,745 $ 2,231 $ — $ 855 $ 22,831 Gas Utilities and Infrastructure — — 1,782 84 1,866 Commercial Renewables — 389 — 98 487 Total Reportable Segments $ 19,745 $ 2,620 $ 1,782 $ 1,037 $ 25,184 2018 Electric Utilities and Infrastructure $ 19,013 $ 2,345 $ — $ 915 $ 22,273 Gas Utilities and Infrastructure — — 1,817 64 1,881 Commercial Renewables — 375 — 102 477 Total Reportable Segments $ 19,013 $ 2,720 $ 1,817 $ 1,081 $ 24,631 2017 Electric Utilities and Infrastructure $ 18,177 $ 2,104 $ — $ 1,050 $ 21,331 Gas Utilities and Infrastructure — — 1,732 104 1,836 Commercial Renewables — 375 — 85 460 Total Reportable Segments $ 18,177 $ 2,479 $ 1,732 $ 1,239 $ 23,627 Duke Energy Ohio Duke Energy Ohio has two reportable segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. Electric Utilities and Infrastructure transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Northern Kentucky. Gas Utilities and Infrastructure transports and sells natural gas in portions of Ohio and Northern Kentucky. Both reportable segments conduct operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky. The remainder of Duke Energy Ohio's operations is presented as Other. In December 2018, the PUCO approved an order which allows the recovery or credit of revenues and expenses related to Duke Energy Ohio's contractual arrangement to buy power from OVEC power plants. Due to the change in regulatory treatment of these amounts, OVEC revenues and expenses are now reflected in the Electric Utilities and Infrastructure segment. Previously, OVEC revenues and expense were included in Other. These amounts are deemed immaterial for Duke Energy Ohio. Therefore, no prior period amounts were restated. See Note 4 for additional information on the PUCO order. All Duke Energy Ohio assets and revenues from continuing operations are within the U.S. Year Ended December 31, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 1,456 $ 484 $ 1,940 $ — $ — $ 1,940 Interest expense $ 80 $ 29 $ 109 $ — $ — $ 109 Depreciation and amortization 182 83 265 — — 265 Income tax expense (benefit) 20 21 41 (1 ) — 40 Segment income (loss)/Net income 159 85 244 (5 ) — 239 Loss from discontinued operations, net of tax (1 ) Net income $ 238 Capital expenditures $ 680 $ 272 $ 952 $ — $ — $ 952 Segment assets 6,188 3,116 9,304 34 — 9,338 Year Ended December 31, 2018 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 1,450 $ 506 $ 1,956 $ 1 $ — $ 1,957 Interest expense $ 67 $ 24 $ 91 $ 1 $ — $ 92 Depreciation and amortization 183 85 268 — — 268 Income tax expense (benefit) 47 24 71 (28 ) — 43 Segment income (loss)/Net income (a) 186 93 279 (103 ) — 176 Capital expenditures $ 655 $ 172 $ 827 $ — $ — $ 827 Segment assets 5,643 2,874 8,517 38 — 8,555 (a) Other includes the loss on the sale of Beckjord, see discussion above. Year Ended December 31, 2017 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 1,373 $ 508 $ 1,881 $ 42 $ — $ 1,923 Interest expense $ 62 $ 28 $ 90 $ 1 $ — $ 91 Depreciation and amortization 178 83 261 — — 261 Income tax expense (benefit) 40 39 79 (20 ) — 59 Segment income (loss) 138 85 223 (30 ) — 193 Loss from discontinued operations, net of tax (1 ) Net income $ 192 Capital expenditures $ 491 $ 195 $ 686 $ — $ — $ 686 Segment assets 5,066 2,758 7,824 66 (15 ) 7,875 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
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 of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant. Duke Energy Progress Energy December 31, December 31, (in millions) 2019 2018 2019 2018 Regulatory Assets AROs – coal ash $ 4,084 $ 4,255 $ 1,843 $ 2,061 AROs – nuclear and other 739 772 668 601 Accrued pension and OPEB 2,391 2,654 897 1,074 Storm cost deferrals 1,399 1,117 1,214 953 Nuclear asset securitized balance, net 1,042 1,093 1,042 1,093 Debt fair value adjustment 1,019 1,099 — — Deferred fuel and purchased power 528 838 305 600 Deferred asset – Lee and Harris COLA 388 426 38 43 Hedge costs deferrals 356 204 129 74 Demand side management (DSM)/Energy Efficiency (EE) 343 449 241 256 Advanced metering infrastructure (AMI) 338 367 114 127 Retired generation facilities 331 402 266 324 Post-in-service carrying costs (PISCC) and deferred operating expenses 329 320 33 36 Vacation accrual 214 213 41 41 Derivatives – natural gas supply contracts 117 141 — — Nuclear deferral 107 133 40 46 Manufactured gas plant (MGP) 102 99 — — Deferred pipeline integrity costs 79 65 — — NCEMPA deferrals 72 50 72 50 East Bend deferrals 44 47 — — Transmission expansion obligation 36 39 — — Amounts due from customers 36 24 — — Grid modernization 28 31 — — Other 896 784 349 322 Total regulatory assets 15,018 15,622 7,292 7,701 Less: current portion 1,796 2,005 946 1,137 Total noncurrent regulatory assets $ 13,222 $ 13,617 $ 6,346 $ 6,564 Regulatory Liabilities Net regulatory liability related to income taxes $ 7,872 $ 8,058 $ 2,595 $ 2,710 Costs of removal 5,756 5,421 2,561 2,135 AROs – nuclear and other 1,100 538 — — Accrued pension and OPEB 176 301 — 149 Amounts to be refunded to customers 34 34 — — Deferred fuel and purchased power 1 16 1 16 Other 1,109 1,064 398 319 Total regulatory liabilities 16,048 15,432 5,555 5,329 Less: current portion 784 598 330 280 Total noncurrent regulatory liabilities $ 15,264 $ 14,834 $ 5,225 $ 5,049 Descriptions of regulatory assets and liabilities summarized in the tables above and below follow. See tables below for recovery and amortization periods at the separate registrants. AROs – coal ash. Represents deferred depreciation and accretion related to the legal obligation to close ash basins. The costs are deferred until recovery treatment has been determined. See Notes 1 and 10 for additional information. AROs – nuclear and other. Represents regulatory assets or liabilities, 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 AROs relate primarily to decommissioning nuclear power facilities. The amounts also include certain deferred gains and losses on NDTF investments. See Notes 1 and 10 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. The accrued pension and OPEB regulatory assets are expected to be recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. Storm cost deferrals. Represents deferred incremental costs incurred related to major weather-related events. Nuclear asset securitized balance, net. Represents the balance associated with Crystal River Unit 3 retirement approved for recovery by the FPSC on September 15, 2015, and the upfront financing costs securitized in 2016 with issuance of the associated bonds. The regulatory asset balance is net of the AFUDC equity portion. Debt fair value adjustment. Purchase accounting adjustments recorded to state the carrying value of Progress Energy and Piedmont at fair value in connection with the 2012 and 2016 mergers, respectively. Amount is amortized over the life of the related debt. Deferred fuel and purchased power. Represents certain energy-related costs that are recoverable or refundable as approved by the applicable regulatory body. Deferred asset – Lee and Harris COLA. Represents deferred costs incurred for the canceled Lee and Harris nuclear projects. 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. DSM/EE. Deferred costs related to various DSM and EE programs recoverable through various mechanisms. AMI. Represents deferred costs related to the installation of AMI meters and remaining net book value of non-AMI meters to be replaced at Duke Energy Carolinas, net book value of existing meters at Duke Energy Florida , Duke Energy Progress and Duke Energy Ohio and expected future recovery of net book value of electromechanical meters that have been replaced with AMI meters at Duke Energy Indiana. Retired generation facilities. Represents amounts to be recovered for facilities that have been retired and are probable of recovery. Post-in-service carrying costs (PISCC) 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. Vacation accrual. Represents vacation entitlement, which is generally recovered in the following year. Derivatives – natural gas supply contracts . Represents costs for certain long-dated, fixed quantity forward gas supply contracts, which are recoverable through PGA clauses. Nuclear deferral. Includes amounts related to levelizing nuclear plant outage costs, 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. MGP. Represents remediation costs incurred at former MGP sites and the deferral of costs to be incurred at Duke Energy Ohio's East End and West End sites. Deferred pipeline integrity costs. Represents pipeline integrity management costs in compliance with federal regulations recovered through a rider mechanism. NCEMPA deferrals. Represents retail allocated cost deferrals and returns associated with the additional ownership interest in assets acquired from NCEMPA in 2015. 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. Transmission expansion obligation. Represents transmission expansion obligations related to Duke Energy Ohio’s withdrawal from MISO. Amounts due from customers. Relates primarily to margin decoupling and IMR recovery mechanisms. Grid modernization. Amounts represent 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. Net regulatory liability related to income taxes. Amounts for all registrants include regulatory liabilities related primarily to impacts from the Tax Act. See Note 24 for additional information. Amounts have no immediate impact on rate base as regulatory assets are offset by deferred tax liabilities. 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. 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, Duke Energy Indiana and Piedmont 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 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, 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, 2019 . 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. The restrictions discussed below were not a material amount of Duke Energy's and Progress Energy's net assets at December 31, 2019 . 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 mergers between Duke Energy and Progress Energy and Duke Energy and Piedmont to (i) the amount of retained earnings on the day prior to the closing of the respective mergers, 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 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% of total capital. Duke Energy Kentucky is required to pay dividends solely out of retained earnings and to maintain a minimum of 35% 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. Piedmont Piedmont must limit cumulative distributions subsequent to the acquisition of Piedmont by Duke Energy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded. RATE-RELATED INFORMATION The NCUC, PSCSC, FPSC, IURC, PUCO, TPUC 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. The FERC also regulates certification and siting of new interstate natural gas pipeline projects. Duke Energy Carolinas and Duke Energy Progress Hurricane Florence, Hurricane Michael and Winter Storm Diego Deferral Filings On December 21, 2018, Duke Energy Carolinas and Duke Energy Progress filed with the NCUC petitions for approval to defer the incremental costs incurred in connection with the response to Hurricane Florence, Hurricane Michael and Winter Storm Diego to a regulatory asset for recovery in the next base rate case. The NCUC issued an order requesting comments on the deferral positions. On March 5, 2019, the North Carolina Public Staff (Public Staff) filed comments. On April 2, 2019, Duke Energy Carolinas and Duke Energy Progress filed reply comments, which included revised estimates of approximately $553 million in incremental operation and maintenance expenses ( $171 million and $382 million for Duke Energy Carolinas and Duke Energy Progress, respectively) and approximately $96 million in capital costs ( $20 million and $76 million for Duke Energy Carolinas and Duke Energy Progress, respectively). On September 30, 2019, Duke Energy Carolinas requested that the NCUC consolidate its pending deferral request with its general rate case filed on that date. On October 30, 2019, Duke Energy Progress requested that the NCUC consolidate its pending deferral request with its general rate case filed on that date. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of these matters. Duke Energy Progress filed a deferral request for these storms with the PSCSC on January 11, 2019, which also included a request for the continuation of prior deferrals requested for ice storms and Hurricane Matthew, and on January 30, 2019, the PSCSC issued a directive approving the deferral request, followed by an order issued on February 21, 2019. On March 15, 2019, Duke Energy Progress filed a request with FERC requesting permission to defer transmission-related storm costs that would be charged to wholesale transmission customers through Duke Energy Progress' Open Access Transmission Tariff (OATT) and to recover those costs from wholesale transmission customers over a three-year recovery period. FERC accepted the filing on May 14, 2019, which allows Duke Energy Progress to proceed with the proposed cost deferral and recovery. Duke Energy Carolinas Regulatory Assets and Liabilities The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 1,696 $ 1,725 (i) (b) Accrued pension and OPEB 477 581 (j) Storm cost deferrals 178 160 Yes (b) Deferred fuel and purchased power 222 196 (f) 2021 Deferred asset – Lee COLA 350 383 (b) Hedge costs deferrals (c) 198 101 Yes 2041 DSM/EE 100 169 (h) (h) AMI 166 176 Yes (b) Retired generation facilities (c) 16 21 Yes 2023 PISCC (c) 33 34 Yes (b) Vacation accrual 80 78 (e) 2020 Nuclear deferral 67 87 2021 Other 327 266 (b) Total regulatory assets 3,910 3,977 Less: current portion 550 520 Total noncurrent regulatory assets $ 3,360 $ 3,457 Regulatory Liabilities (a) Net regulatory liability related to income taxes (d) $ 3,060 $ 3,082 (b) Costs of removal (c) 1,936 1,968 Yes (g) AROs – nuclear and other 1,100 538 (b) Accrued pension and OPEB 39 38 (j) Other 543 572 (b) Total regulatory liabilities 6,678 6,198 Less: current portion 255 199 Total noncurrent regulatory liabilities $ 6,423 $ 5,999 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24 . (e) Earns a return on outstanding balance in North Carolina. (f) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (g) Recovered over the life of the associated assets. (h) Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism. (i) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (j) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. 2017 North Carolina Rate Case On August 25, 2017, Duke Energy Carolinas filed an application with the NCUC for a rate increase for retail customers of approximately $647 million , which represented an approximate 13.6% increase in annual base revenues. The request for rate increase was driven by capital investments subsequent to the previous base rate case, including the W.S. Lee CC, grid improvement projects, AMI, investments in customer service technologies, costs of complying with CCR regulations and the Coal Ash Act and recovery of costs related to licensing and development of the William States Lee III Nuclear Station. On February 28, 2018, Duke Energy Carolinas and the Public Staff filed an Agreement and Stipulation of Partial Settlement resolving certain portions of the proceeding. Terms of the settlement included a return on equity of 9.9% and a capital structure of 52% equity and 48% debt. As a result of the settlement, Duke Energy Carolinas recorded a pretax charge of approximately $4 million in the first quarter of 2018 to Operation, maintenance and other on the Consolidated Statements of Operations. On June 22, 2018, the NCUC issued an order approving the Stipulation of Partial Settlement and requiring a revenue reduction. As a result of the June 22, 2018, order, Duke Energy Carolinas recorded a pretax charge of approximately $150 million to Impairment charges and Operation, maintenance and other on the Consolidated Statements of Operations. The charge was primarily related to the denial of a return on the Lee Nuclear Project and the assessment of a $70 million management penalty by reducing the annual recovery of deferred coal ash costs by $14 million per year over a five-year recovery period. On July 27, 2018, NCUC approved Duke Energy Carolinas' compliance filing. As a result, revised customer rates were effective on August 1, 2018. On July 20, 2018, the North Carolina Attorney General filed a Notice of Appeal to the North Carolina Supreme Court from the June 22, 2018, Order Accepting Stipulation, Deciding Contested Issues and Requiring Revenue Reduction issued by the NCUC. The Attorney General contends the commission’s order should be reversed and remanded, as it is in excess of the commission’s statutory authority; affected by errors of law; unsupported by competent, material and substantial evidence in view of the entire record as submitted; and arbitrary or capricious. The Sierra Club, North Carolina Sustainable Energy Association, North Carolina Justice Center, North Carolina Housing Coalition, Natural Resource Defense Council and Southern Alliance for Clean Energy also filed Notices of Appeal to the North Carolina Supreme Court. On August 8, 2018, the Public Staff filed a Notice of Cross Appeal to the North Carolina Supreme Court, which contends the commission’s June 22, 2018, order should be reversed and remanded, as it is affected by errors of law, and is unsupported by substantial evidence with regard to the commission’s failure to consider substantial evidence of coal ash related environmental violations. On November 29, 2018, the North Carolina Attorney General's Office filed a motion with the North Carolina Supreme Court requesting the court consolidate the Duke Energy Carolinas and Duke Energy Progress appeals and enter an order adopting the parties’ proposed briefing schedule as set out in the filing. On November 29, 2018, the North Carolina Supreme Court adopted a schedule for briefing set forth in the motion to consolidate the Duke Energy Carolinas and Duke Energy Progress appeals. Appellant briefs were filed on April 26, 2019. The Appellee response briefs were filed on September 25, 2019. Oral arguments before the North Carolina Supreme Court are scheduled for March 11, 2020. Duke Energy Carolinas cannot predict the outcome of this matter. 2019 North Carolina Rate Case On September 30, 2019, Duke Energy Carolinas filed an application with the NCUC for a net rate increase for retail customers of approximately $291 million , which represents an approximate 6% increase in annual base revenues. The gross rate case revenue increase request is $445 million , which is offset by an EDIT rider of $154 million to return to customers North Carolina and federal EDIT resulting from recent reductions in corporate tax rates. The request for rate increase is driven by major capital investments subsequent to the previous base rate case, coal ash pond closure costs, accelerated coal plant depreciation and deferred 2018 storm costs. Duke Energy Carolinas requests rates be effective no later than August 1, 2020. The NCUC has established a procedural schedule with an evidentiary hearing to commence on March 23, 2020. Duke Energy Carolinas cannot predict the outcome of this matter. 2018 South Carolina Rate Case On November 8, 2018, Duke Energy Carolinas filed an application with the PSCSC for a rate increase for retail customers of approximately $168 million , which represents an approximate 10% increase in retail revenues. The request for rate increase was driven by capital investments and environmental compliance progress made by Duke Energy Carolinas since its previous rate case, including the further implementation of Duke Energy Carolinas’ generation modernization program, which consists of retiring, replacing and upgrading generation plants, investments in customer service technologies and continued investments in base work to maintain its transmission and distribution systems. The request included net tax benefits resulting from the Tax Act of $66 million to reflect the change in ongoing tax expense, primarily from the reduction in the federal income tax rate from 35% to 21%. The request also included $46 million to return EDIT resulting from the federal tax rate change and deferred revenues since January 2018 related to the change and benefits of $17 million from a reduction in North Carolina state income taxes allocable to South Carolina (EDIT Rider). Duke Energy Carolinas also requested approval of its proposed Grid Improvement Plan (GIP), adjustments to its Prepaid Advantage Program and a variety of accounting orders related to ongoing costs for environmental compliance, including recovery over a five -year period of $242 million of deferred coal ash related compliance costs, grid investments between rate changes, incremental depreciation expense, a result of new depreciation rates from the depreciation study approved in the 2017 North Carolina Rate Case above, and the balance of development costs associated with the cancellation of the Lee Nuclear Project. Finally, Duke Energy Carolinas sought approval to establish a reserve and accrual for end-of-life nuclear costs for nuclear fuel and materials and supplies. On March 8, 2019, the ORS moved to establish a new and separate hearing docket to review and consider the GIP proposed by Duke Energy Carolinas. Subsequently, on March 12, 2019, the ORS and Duke Energy Carolinas executed a Stipulation resolving the ORS’s motion. The Stipulation provided that costs incurred for the GIP after January 1, 2019, would be deferred with a return, subject to evaluation in a future rate proceeding. The Stipulation was approved by the PSCSC on June 19, 2019. On December 16, 2019, Duke Energy Carolinas and Duke Energy Progress filed a Joint Petition to Establish an Informational Docket for Review and Consideration of Grid Improvement Plans through which Duke Energy Carolinas and Duke Energy Progress would provide interested stakeholders information on the companies' grid activities. The PSCSC requested parties comment on procedural matters by January 31; accordingly, various groups filed comments, none of which opposed an informational docket. Duke Energy Carolinas cannot predict the outcome of this matter. After hearings in March 2019, the PSCSC issued an order on May 21, 2019, which included a return on equity of 9.5% and a capital structure of 53% equity and 47% debt. The order also included the following material components: • Approval of cancellation of the Lee Nuclear Project, with Duke Energy Carolinas maintaining the Combined Operating License; • Approval of recovery of $125 million (South Carolina retail portion) of Lee Nuclear Project development costs (including AFUDC through December 2017) over a 12 -year period, but denial of a return on the deferred balance of costs; • Approval of recovery of $96 million of coal ash costs over a five-year period with a return at Duke Energy Carolinas' WACC; • Denial of recovery of $115 million of certain coal ash costs deemed to be related to the Coal Ash Act and incremental to the federal CCR rule; • Approval of a $66 million decrease to base rates to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%; • Approval of a $45 million decrease through the EDIT Rider to return EDIT resulting from the federal tax rate change and deferred revenues since January 2018 related to the change, to be returned in accordance with the Average Rate Assumption Method (ARAM) for protected EDIT, over a 20-year period for unprotected EDIT associated with Property, Plant and Equipment, over a five-year period for unprotected EDIT not associated with Property, Plant and Equipment and over a five-year period for the deferred revenues; and • Approval of a $17 million decrease through the EDIT Rider related to reductions in the North Carolina state income tax rate from 6.9% to 2.5% to be returned over a five-year period. As a result of the order, revised customer rates were effective June 1, 2019. On May 31, 2019, Duke Energy Carolinas filed a Petition for Rehearing or Reconsideration of that order contending substantial rights of Duke Energy Carolinas were prejudiced by unlawful, arbitrary and capricious rulings by the commission on certain issues presented in the proceeding. On June 19, 2019, the PSCSC issued a Directive denying Duke Energy Carolinas' request to rehear or reconsider the commission's rulings on certain issues presented in the proceeding including coal ash remediation and disposal costs, return on equity and the recovery of a return on deferred operation and maintenance expenses. An order detailing the commission's decision in the Directive was issued on October 18, 2019. Duke Energy Carolinas filed a notice of appeal on November 15, 2019, with the South Carolina Supreme Court. On November 20, 2019, the South Carolina Energy Users Committee filed a Notice of Appeal and the ORS filed a Notice of Cross Appeal with the South Carolina Supreme Court. On January 8, 2020, Duke Energy Carolinas and the ORS filed a joint motion to extend briefing schedule deadlines. Appellant briefs are due on March 2, 2020, and Appellee response briefs are due on May 15, 2020. On February 12, 2020, Duke Energy Carolinas and the ORS filed a joint motion to extend briefing deadlines by 30 days. Based on legal analysis and the filing of the appeal, Duke Energy Carolinas has not recorded an adjustment for its deferred coal ash costs. Duke Energy Carolinas cannot predict the outcome of this matter. FERC Formula Rate Matter On July 31, 2017, PMPA filed a complaint with FERC alleging that Duke Energy Carolinas misapplied the formula rate under the PPA between the parties by including in its rates amortization expense associated with regulatory assets and recorded in a certain account without FERC approval. On February 15, 2018, FERC issued an order ruling in favor of PMPA and ordered Duke Energy Carolinas to refund to PMPA all amounts improperly collected under the PPA. Duke Energy Carolinas has issued to PMPA and similarly situated wholesale customers refunds of approximately $25 million . FERC also set the matter for settlement and hearing. PMPA and other customers filed a protest to Duke Energy Carolinas' refund report claiming that the refunds are inadequate in that (1) Duke Energy Carolinas invoked the limitations periods in the contracts to limit the time period for which the refunds were paid and the customers disagree that this limitation applies, and (2) Duke Energy Carolinas refunded only amounts recovered through a certain account and the customers have asserted that the order applies to all regulatory assets. On July 3, 2018, FERC issued an order accepting Duke Energy Carolinas' refund report and ruling that these two claims are outside the scope of FERC's February order. The settlement agreements and revised formula rates for all parties to the proceeding were filed on December 28, 2018. On April 2, 2019, FERC issued an order approving the settlement agreement as filed. Since then, Duke Energy Carolinas has implemented the terms of the settlement in rates with all wholesale customers, including non-intervening customers. On July 25, 2019, Duke Energy Carolinas received FERC approval for the accounting treatment requested for certain assets included in the settlement agreements. This is the final approval needed from FERC and concludes this proceeding. Sale of Hydroelectric (Hydro) Plants In May 2018, Duke Energy Carolinas entered an agreement for the sale of five hydro plants with a combined 18.7 -MW generation capacity in the Western Carolinas region to Northbrook Energy. The completion of the transaction was subject to approval from FERC for the four FERC-licensed plants, as well as other state regulatory agencies and was contingent upon regulatory approval from the NCUC and PSCSC to defer the total estimated loss on the sale of approximately $40 million . On July 5, 2018, Duke Energy Carolinas filed with the NCUC for approval of the sale of the five hydro plants to Northbrook, to transfer the CPCNs for the four North Carolina hydro plants and to establish a regulatory asset for the North Carolina retail portion of the difference between sales proceeds and net book value. On June 5, 2019, the NCUC issued an order approving the transfer of the hydro plants from Duke Energy Carolinas to Northbrook, granting deferral accounting and denying the Public Staff's motion for reconsideration. On August 28, 2018, Duke Energy Carolinas filed with PSCSC an Application for Approval of Transfer and Sale of Hydroelectric Generation Facilities, Acceptance for Filing of a Power Purchase Agreement and an Accounting Order to Establish a Regulatory Asset. On September 10, 2018, the ORS provided a letter to the commission stating its position on the application and on September 18, 2018, Duke Energy Carolinas requested this matter be carried over to allow Duke Energy Carolinas time to discuss certain accounting issues with the ORS. At its June 26, 2019, agenda meeting, the PSCSC voted to approve the transfer and sale subject to the recommendation of the ORS that the issuance of an Accounting Order will not preclude the ORS, the commission or any other party from addressing the reasonableness of these costs, any return sought and including any carrying costs in the next rate case. On August 9, 2018, Duke Energy Carolinas and Northbrook filed a joint Application for Transfer of Licenses with the FERC. On December 27, 2018, the FERC issued its Order Approving Transfer of Licenses for the four FERC-licensed hydro plants. On January 18, 2019, Duke Energy Carolinas and Northbrook Carolina Hydro II, LLC requested a six-month extension of time to comply with the requirement of the December 27, 2018, order that Northbrook submit to FERC certified copies of all instruments of conveyance and signed acceptance sheets within 60 days of the date of the order. On February 14, 2019, FERC issued an order granting extensions until August 26, 2019, to comply with the requirements of the December 27, 2018, order. The closing occurred on August 16, 2019. A regulatory asset was established for approximately $32 million , which represents the total deferral amount for North Carolina and South Carolina retail. The North Carolina retail portion will be amortized pursuant to an order from the NCUC. Duke Energy Carol |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES INSURANCE 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 from 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 McGuire and Oconee and operates and has a partial ownership interest in 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 Robinson, Brunswick and Harris. Robinson and Harris each have one reactor. Brunswick has two reactors. Duke Energy Florida owns Crystal River Unit 3, which permanently ceased operation in 2013 and reached a SAFSTOR condition in January 2018 after the successful transfer of all used nuclear fuel assemblies to an on-site dry cask storage facility. 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 approximately $13.9 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 U.S. Congress could impose revenue-raising measures on the nuclear industry to pay claims. Primary Liability Insurance Duke Energy Carolinas and Duke Energy Progress have purchased the maximum reasonably available private primary nuclear liability insurance as required by law, which is $450 million per station. Duke Energy Florida has purchased $100 million primary nuclear liability insurance in compliance with the law. Excess Liability Program This program provides $13.5 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 $138 million times the current 98 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 $20.5 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 property damage, nuclear accident 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 accidental outage coverage for losses in the event of a major accidental outage at an insured nuclear station. 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 $1.8 billion . Each nuclear facility has accident property damage, nuclear accident 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 $50 million and is on an actual cash value basis. 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 coverage, similar to business interruption, 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% of the applicable weekly limits for 52 weeks and 80% of the applicable weekly limits for up to the next 110 weeks. Coverage is provided until these applicable weekly periods are met, where the accidental outage policy limit will not exceed $490 million for McGuire and Catawba, $462 million for Brunswick and Harris, $406 million for Oconee and $364 million for Robinson. NEIL sublimits the accidental outage recovery up 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 $155 million , $94 million and $1 million , respectively. Duke Energy Carolinas' maximum assessment amount includes 100% of potential obligations to NEIL for jointly owned reactors. Duke Energy Carolinas would seek reimbursement from the joint owners for their portion of these assessment amounts. ENVIRONMENTAL The Duke Energy Registrants are subject to federal, state and local laws regarding air and water quality, hazardous and solid waste disposal, coal ash and other environmental matters. These laws 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 ARO recorded as a result of various environmental regulations, discussed in Note 10 , 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 at all sites. 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 Accounts payable within Current Liabilities and Other within Other Noncurrent 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 Piedmont Balance at December 31, 2016 $ 98 $ 10 $ 18 $ 3 $ 14 $ 59 $ 10 $ 1 Provisions/adjustments 8 3 3 2 2 3 (4 ) 1 Cash reductions (25 ) (3 ) (6 ) (2 ) (4 ) (15 ) (1 ) — Balance at December 31, 2017 81 10 15 3 12 47 5 2 Provisions/adjustments 26 3 2 3 (2 ) 21 1 1 Cash reductions (30 ) (2 ) (6 ) (2 ) (4 ) (20 ) (1 ) (1 ) Balance at December 31, 2018 77 11 11 4 6 48 5 2 Provisions/adjustments 33 6 9 2 5 11 — 7 Cash reductions (52 ) (6 ) (4 ) (2 ) (2 ) (40 ) (1 ) (1 ) Balance at December 31, 2019 $ 58 $ 11 $ 16 $ 4 $ 9 $ 19 $ 4 $ 8 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 $ 59 Duke Energy Carolinas 11 Duke Energy Ohio 42 Piedmont 2 LITIGATION Duke Energy Carolinas and Duke Energy Progress NCDEQ Closure Litigation The Coal Ash Act requires CCR surface impoundments in North Carolina to be closed, with the closure method and timing based on a risk ranking classification determined by legislation or state regulators. The NCDEQ previously classified the impoundments at Allen, Belews Creek, Rogers, Marshall, Mayo and Roxboro as low risk. The Coal Ash Act allowed a range of closure options for low risk rated basins. On April 1, 2019, NCDEQ issued a closure determination (NCDEQ's April 1 Order) requiring Duke Energy Carolinas and Duke Energy Progress to excavate all remaining coal ash impoundments at these facilities. On April 26, 2019, Duke Energy Carolinas and Duke Energy Progress filed Petitions for Contested Case Hearings in the Office of Administrative Hearings to challenge NCDEQ's April 1 Order. On May 9, 2019, NCDEQ issued a supplemental order requiring that closure plans be submitted on December 31, 2019, but providing that the corrective action plans are not due until March 31, 2020. Duke Energy Carolinas and Duke Energy Progress filed amended petitions on May 24, 2019, incorporating the May 9, 2019, order. On December 31, 2019, the parties executed a settlement agreement resolving the closure method for each of these sites. Duke Energy Carolinas and Duke Energy Progress agreed to excavate seven of the nine remaining coal ash basins at these sites with ash moved to on-site lined landfills, including two at Allen, one at Belews Creek, one at Mayo, one at Roxboro, and two at Rogers. At the two remaining basins at Marshall and Roxboro, uncapped basin ash will be excavated and moved to lined landfills. Those portions of the basins at Marshall and Roxboro, which were previously filled with ash and on which permitted facilities were constructed, will not be disturbed and will be closed pursuant to other state regulations. On February 5, 2020, the North Carolina Superior court entered a consent order, after which this litigation was dismissed on February 11, 2020. Coal Ash Insurance Coverage Litigation In March 2017, Duke Energy Carolinas and Duke Energy Progress filed a civil action in the North Carolina Superior Court against various insurance providers. The lawsuit seeks payment for coal ash-related liabilities covered by third-party liability insurance policies. The insurance policies were issued between 1971 and 1986 and provide third-party liability insurance for property damage. The civil action seeks damages for breach of contract and indemnification for costs arising from the Coal Ash Act and the EPA CCR rule at 15 coal-fired plants in North Carolina and South Carolina. Despite a stay of the litigation from May 2019 through September 2019 to allow the parties to discuss potential resolution, no resolution was reached, and litigation resumed. In February and March 2020, the Court will hear arguments on numerous cross motions filed by the parties to seek legal determinations concerning, among other issues, the appropriate insurance allocation methods, the trigger of the applicable coverages and several coverage defenses raised by the insurance providers. Trial is scheduled for February 2021. Duke Energy Carolinas and Duke Energy Progress cannot 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 CWA violations from coal ash basins at two coal-fired power plants in North Carolina. The 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 in the North Carolina Superior Court. On August 16, 2013, the NCDEQ filed an enforcement action against Duke Energy Carolinas and Duke Energy Progress related to the remaining coal-fired power 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 is representing several environmental groups who have been permitted to intervene in these cases. The court issued orders in 2016 granting Motions for Partial Summary Judgment for seven of the 14 North Carolina plants with coal ash basins named in the enforcement actions. On February 13, 2017, the court issued an order denying motions for partial summary judgment brought by both the environmental groups and Duke Energy Carolinas and Duke Energy Progress for the remaining seven plants. On March 15, 2017, Duke Energy Carolinas and Duke Energy Progress filed a Notice of Appeal with the North Carolina Court of Appeals to challenge the trial court’s order. The parties were unable to reach an agreement at mediation in April 2017 and submitted briefs to the trial court on remaining issues to be tried. On August 1, 2018, the Court of Appeals dismissed the appeal. Pursuant to the terms of the December 31, 2019, settlement agreement, discussed above, between Duke Energy Carolinas, Duke Energy Progress, NCDEQ and the community groups represented by the SELC, this litigation was dismissed on February 5, 2020, upon entry of the consent order in the North Carolina Superior Court. Federal Citizens Suits On June 13, 2016, Roanoke River Basin Association (RRBA) filed a federal citizen suit in the Middle District of North Carolina alleging unpermitted discharges to surface water and groundwater violations at the Mayo Plant. On August 19, 2016, Duke Energy Progress filed a Motion to Dismiss. On April 26, 2017, the court entered an order dismissing four of the claims in the federal citizen suit. Two claims relating to alleged violations of National Pollution Discharge Elimination System (NPDES) permit provisions survived the motion to dismiss, and Duke Energy Progress filed its response on May 10, 2017. Duke Energy Progress and RRBA each filed motions for summary judgment on March 23, 2018. On May 16, 2017, RRBA filed a federal citizen suit in the U.S. District Court for the Middle District of North Carolina, which asserts two claims relating to alleged violations of NPDES permit provisions at the Roxboro Plant and one claim relating to the use of nearby water bodies. Duke Energy Progress and RRBA each filed motions for summary judgment on April 17, 2018. On May 8, 2018, on motion from Duke Energy Progress, the court ordered trial in both of the above matters to be consolidated. On April 5, 2019, Duke Energy Progress filed a motion to stay the case following the NCDEQ’s April 1 Order. On August 2, 2019, the court ordered that this case is stayed. On December 5, 2017, various parties filed a federal citizen suit in the U.S. District Court for the Middle District of North Carolina for alleged violations at Duke Energy Carolinas' Belews Creek under the CWA. Duke Energy Carolinas' answer to the complaint was filed on August 27, 2018. On October 10, 2018, Duke Energy Carolinas filed Motions to Dismiss for lack of standing, Motion for Judgment on the Pleadings and Motion to Stay Discovery. On January 9, 2019, the court entered an order denying Duke Energy Carolinas' motion to stay discovery. There has been no ruling on the other pending motions. On April 5, 2019, Duke Energy Carolinas filed a motion to stay the case following the NCDEQ’s April 1 Order. On August 2, 2019, the court ordered that this case is stayed. On December 31, 2019, Duke Energy Carolinas, Duke Energy Progress, the NCDEQ and various community groups including RRBA entered into a comprehensive settlement that, among other things, resolves the method of closure at the Mayo, Roxboro and Belews Creek ash basins. On February 5, 2020, the North Carolina Superior Court entered a consent order confirming the terms of the settlement agreement, upon which RRBA filed stipulations on February 11, 2020 voluntarily dismissing all three of these federal citizen suits with prejudice. Duke Energy Carolinas Asbestos-related Injuries and Damages Claims Duke Energy Carolinas has experienced numerous claims for indemnification and medical cost reimbursement related to asbestos exposure. These claims relate to damages for bodily injuries alleged to have arisen from exposure to or use of asbestos in connection with construction and maintenance activities conducted on its electric generation plants prior to 1985. As of December 31, 2019 , there were 123 asserted claims for non-malignant cases with the cumulative relief sought of up to $32 million and 49 asserted claims for malignant cases with the cumulative relief sought of up to $16 million . Based on Duke Energy Carolinas’ experience, it is expected that the ultimate resolution of most of these claims likely will be less than the amount claimed. Duke Energy Carolinas has recognized asbestos-related reserves of $604 million and $630 million at December 31, 2019 , and 2018 , respectively. These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Consolidated Balance Sheets. These reserves are based upon Duke Energy Carolinas' best estimate for current and future asbestos claims through 2039 and are recorded on an undiscounted basis. In light of the uncertainties inherent in a longer-term forecast, management does not believe they can reasonably estimate the indemnity and medical costs that might be incurred after 2039 related to such potential claims. It is possible Duke Energy Carolinas may incur asbestos liabilities in excess of the recorded reserves. Duke Energy Carolinas has third-party insurance to cover certain losses related to asbestos-related injuries and damages above an aggregate self-insured retention. Duke Energy Carolinas’ cumulative payments began to exceed the self-insurance retention in 2008. Future payments up to the policy limit will be reimbursed by the third-party insurance carrier. The insurance policy limit for potential future insurance recoveries indemnification and medical cost claim payments is $747 million in excess of the self-insured retention. Receivables for insurance recoveries were $742 million and $739 million at December 31, 2019 , and 2018 , respectively. These amounts are classified in Other within Other Noncurrent Assets and Receivables within Current Assets on the Consolidated Balance Sheets. Duke Energy Carolinas is not aware of any uncertainties regarding the legal sufficiency of insurance claims. Duke Energy Carolinas believes the insurance recovery asset is probable of recovery as the insurance carrier continues to have a strong financial strength rating. Duke Energy Progress and Duke Energy Florida Spent Nuclear Fuel Matters On June 18, 2018, Duke Energy Progress and Duke Energy Florida sued the U.S. in the U.S. Court of Federal Claims for damages incurred for the period 2014 through 2018. The lawsuit claimed the Department of Energy breached a contract in failing to accept spent nuclear fuel under the Nuclear Waste Policy Act of 1982 and asserted damages for the cost of on-site storage in the amount of $100 million and $203 million for Duke Energy Progress and Duke Energy Florida, respectively. Discovery is ongoing and a trial is expected to occur in early 2021. Duke Energy Florida Fluor Contract Litigation On January 29, 2019, Fluor filed a breach of contract lawsuit in the U.S. District Court for the Middle District of Florida against Duke Energy Florida related to an EPC agreement for the CC natural gas plant in Citrus County, Florida. Fluor filed an amended complaint on February 13, 2019. Fluor’s multicount complaint seeks civil, statutory and contractual remedies related to Duke Energy Florida’s $67 million draw in early 2019, on Fluor’s letter of credit and offset of invoiced amounts. Duke Energy Florida moved to dismiss all counts of Fluor's amended complaint, and on April 16, 2019, the court dismissed Fluor's complaint without prejudice. On April 26, 2019, Fluor filed a second amended complaint. On August 1, 2019, Duke Energy Florida and Fluor reached a settlement to resolve the pending litigation and other outstanding issues related to completing the Citrus County CC. Pursuant to the terms of the settlement, Fluor filed a notice of voluntary dismissal, and on August 27, 2019, the court dismissed the case with prejudice. As a result of the settlement with Fluor, Duke Energy Florida recorded a $36 million reduction to a prior-year impairment within Impairment charges on Duke Energy's Consolidated Statements of Operations in 2019. Other Litigation and Legal Proceedings The Duke Energy Registrants are involved in other legal, tax and regulatory proceedings arising in the ordinary course of business, some of which involve significant amounts. The Duke Energy Registrants believe the final disposition of these proceedings will not have a material effect on their results of operations, cash flows or financial position. The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters, excluding asbestos-related reserves. Reserves are classified on the Consolidated Balance Sheets in Other within Other Noncurrent Liabilities 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) 2019 2018 Reserves for Legal Matters Duke Energy $ 62 $ 65 Duke Energy Carolinas 2 9 Progress Energy 55 54 Duke Energy Progress 12 12 Duke Energy Florida 22 24 Piedmont 1 1 OTHER COMMITMENTS AND CONTINGENCIES General As part of their normal business, the Duke Energy Registrants are party to various financial guarantees, performance guarantees and other contractual commitments to extend guarantees of credit and other assistance to various subsidiaries, investees and other third parties. These guarantees involve elements of performance and credit risk, which are not fully recognized on the Consolidated Balance Sheets and have uncapped maximum potential payments. See Note 8 for more information. Purchase Obligations Purchased Power Duke Energy Progress, Duke Energy Florida and Duke Energy Ohio have ongoing purchased power contracts, including renewable energy contracts, with other utilities, wholesale marketers, co-generators and qualified facilities. These purchased power contracts generally provide for capacity and energy payments. In addition, Duke Energy Progress and Duke Energy Florida have various contracts to secure transmission rights. The following table presents executory purchased power contracts with terms exceeding one year, excluding contracts classified as leases. Minimum Purchase Amount at December 31, 2019 Contract (in millions) Expiration 2020 2021 2022 2023 2024 Thereafter Total Duke Energy Progress (a) 2021-2032 $ 46 $ 66 $ 63 $ 55 $ 56 $ 123 $ 409 Duke Energy Florida (b) 2021-2025 374 356 354 374 262 91 1,811 Duke Energy Ohio (c)(d) 2021-2022 132 107 32 — — — 271 (a) Contracts represent either 100% of net plant output or vary. (b) Contracts represent between 81% and 100% of net plant output. (c) Contracts represent between 1% and 9% of net plant output. (d) Excludes PPA with OVEC. See Note 18 for additional information. Gas Supply and Capacity Contracts Duke Energy Ohio and Piedmont routinely enter into long-term natural gas supply commodity and capacity commitments and other agreements that commit future cash flows to acquire services needed in their businesses. These commitments include pipeline and storage capacity contracts and natural gas supply contracts to provide service to customers. Costs arising from the natural gas supply commodity and capacity commitments, while significant, are pass-through costs to customers and are generally fully recoverable through the fuel adjustment or PGA procedures and prudence reviews in North Carolina and South Carolina and under the Tennessee Incentive Plan in Tennessee. In the Midwest, these costs are recovered via the Gas Cost Recovery Rate in Ohio or the Gas Cost Adjustment Clause in Kentucky. The time periods for fixed payments under pipeline and storage capacity contracts are up to 15 years . The time periods for fixed payments under natural gas supply contracts are up to six years . The time period for the natural gas supply purchase commitments is up to 11 years . Certain storage and pipeline capacity contracts require the payment of demand charges that are based on rates approved by the FERC in order to maintain rights to access the natural gas storage or pipeline capacity on a firm basis during the contract term. The demand charges that are incurred in each period are recognized in the Consolidated Statements of Operations and Comprehensive Income as part of natural gas purchases and are included in Cost of natural gas. The following table presents future unconditional purchase obligations under natural gas supply and capacity contracts as of December 31, 2019 . (in millions) Duke Energy Duke Energy Ohio Piedmont 2020 $ 297 $ 39 $ 258 2021 280 33 247 2022 225 14 211 2023 129 3 126 2024 118 — 118 Thereafter 714 — 714 Total $ 1,763 $ 89 $ 1,674 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | LEASES As described in Note 1 , Duke Energy adopted the revised accounting guidance for Leases effective January 1, 2019, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. Adoption of the new standard resulted in the recording of ROU assets and operating lease liabilities as follows: As of January 1, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont ROU assets $ 1,750 $ 153 $ 863 $ 407 $ 456 $ 23 $ 61 $ 26 Operating lease liabilities – current 205 28 96 35 61 1 4 4 Operating lease liabilities – noncurrent 1,504 127 766 371 395 22 58 25 As part of its operations, Duke Energy leases certain aircraft, space on communication towers, industrial equipment, fleet vehicles, fuel transportation (barges and railcars), land and office space under various terms and expiration dates. Additionally, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Indiana have finance leases related to firm natural gas pipeline transportation capacity. Duke Energy Progress and Duke Energy Florida have entered into certain PPAs, which are classified as finance and operating leases. Duke Energy has certain lease agreements, which include variable lease payments that are based on the usage of an asset. These variable lease payments are not included in the measurement of the ROU assets or operating lease liabilities on the Consolidated Financial Statements. Certain Duke Energy lease agreements include options for renewal and early termination. The intent to renew a lease varies depending on the lease type and asset. Renewal options that are reasonably certain to be exercised are included in the lease measurements. The decision to terminate a lease early is dependent on various economic factors. No termination options have been included in any of the lease measurements. Duke Energy Carolinas entered into a sale-leaseback arrangement in December 2019, to construct and occupy an office tower. The lease agreement was evaluated as a sale-leaseback of real estate and it was determined that the transaction did not qualify for sale-leaseback accounting. As a result, the transaction is being accounted for as a financing. For this transaction, Duke Energy Carolinas will continue to record the real estate on the Consolidated Balance Sheets within Property, Plant and Equipment as if it were the legal owner and will continue to recognize depreciation expense over the estimated useful life. In addition, a liability will be recorded for the failed sale-leaseback obligation within Long-Term Debt on the Consolidated Balance Sheets, with the monthly lease payments commencing after the construction phase being split between interest expense and principal pay down of the debt. Duke Energy operates various renewable energy projects and sells the generated output to utilities, electric cooperatives, municipalities and commercial and industrial customers through long-term PPAs. In certain situations, these PPAs and the associated renewable energy projects qualify as operating leases. Rental income from these leases is accounted for as Nonregulated electric and other 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 $264 million , $268 million and $262 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. Renewable energy projects owned by Duke Energy and accounted for as operating leases had a cost basis of $3,349 million and $3,358 million and accumulated depreciation of $721 million and $602 million at December 31, 2019 , and 2018 , respectively. These assets are principally classified as nonregulated electric generation and transmission assets. Piedmont has an agreement with Duke Energy Carolinas for the construction and transportation of natural gas pipelines to supply its natural gas plant needs. Piedmont accounts for this pipeline lateral contract as a lessor and sales-type lease since the present value of the sum of the lease payments equals the fair value of the asset. As of December 31, 2019 , the pipeline lateral assets owned by Piedmont had a current net investment basis of $4 million and a long-term net investment basis of $70 million . These assets are classified in Other, within Current Assets and Other Noncurrent Assets, respectively, on Piedmont's Consolidated Balance Sheets. Duke Energy Carolinas accounts for the contract as a finance lease. The activity for this contract is eliminated in consolidation at Duke Energy. The following table presents the components of lease expense. Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Operating lease expense (a) $ 292 $ 47 $ 161 $ 69 $ 92 $ 11 $ 20 $ 5 Short-term lease expense (a) 16 5 9 4 5 1 2 — Variable lease expense (a) 47 22 22 16 6 — 1 1 Finance lease expense Amortization of leased assets (b) 111 6 21 5 16 1 — — Interest on lease liabilities (c) 61 15 42 33 9 — 1 — Total finance lease expense 172 21 63 38 25 1 1 — Total lease expense $ 527 $ 95 $ 255 $ 127 $ 128 $ 13 $ 24 $ 6 (a) Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. (b) Included in Depreciation and amortization on the Consolidated Statements of Operations. (c) Included in Interest Expense on the Consolidated Statements of Operations. The following table presents rental expense for operating leases, as reported under the former lease standard. These amounts are included in Operation, maintenance and other and Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. Years Ended December 31, (in millions) 2018 2017 Duke Energy $ 268 $ 241 Duke Energy Carolinas 49 44 Progress Energy 143 130 Duke Energy Progress 75 75 Duke Energy Florida 68 55 Duke Energy Ohio 13 15 Duke Energy Indiana 21 23 Piedmont 11 7 The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 2020 $ 268 $ 31 $ 123 $ 51 $ 72 $ 2 $ 5 $ 5 2021 216 19 99 44 55 2 4 5 2022 201 19 95 40 55 2 4 5 2023 191 17 95 41 54 2 4 5 2024 176 13 95 41 54 2 4 5 Thereafter 984 57 462 283 179 21 64 5 Total operating lease payments 2,036 156 969 500 469 31 85 30 Less: present value discount (396 ) (27 ) (177 ) (109 ) (68 ) (9 ) (27 ) (3 ) Total operating lease liabilities (a) $ 1,640 $ 129 $ 792 $ 391 $ 401 $ 22 $ 58 $ 27 (a) Certain operating lease payments include renewal options that are reasonably certain to be exercised. The following table presents future minimum lease payments under operating leases, which at inception had a noncancelable term of more than one year, as reported under the former lease standard. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 2019 $ 239 $ 33 $ 97 $ 49 $ 48 $ 2 $ 6 $ 5 2020 219 29 90 46 44 2 5 5 2021 186 19 79 37 42 2 4 5 2022 170 19 76 34 42 2 4 5 2023 160 17 77 35 42 2 5 6 Thereafter 1,017 68 455 314 141 23 66 11 Total $ 1,991 $ 185 $ 874 $ 515 $ 359 $ 33 $ 90 $ 37 The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities. December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana 2020 $ 181 $ 28 $ 69 $ 44 $ 25 $ 1 2021 186 23 69 44 25 1 2022 173 23 69 44 25 1 2023 175 23 69 44 25 1 2024 121 23 55 44 11 1 Thereafter 823 314 539 528 11 27 Total finance lease payments 1,659 434 870 748 122 32 Less: amounts representing interest (690 ) (255 ) (465 ) (441 ) (24 ) (22 ) Total finance lease liabilities $ 969 $ 179 $ 405 $ 307 $ 98 $ 10 The following table presents future minimum lease payments under finance leases, as reported under the former lease standard. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana 2019 $ 170 $ 20 $ 45 $ 20 $ 25 $ 2 $ 1 2020 174 20 46 21 25 — 1 2021 177 15 45 20 25 — 1 2022 165 15 45 21 24 — 1 2023 165 15 45 21 24 — 1 Thereafter 577 204 230 209 21 — 27 Minimum annual payments 1,428 289 456 312 144 2 32 Less: amount representing interest (487 ) (180 ) (205 ) (175 ) (30 ) — (22 ) Total $ 941 $ 109 $ 251 $ 137 $ 114 $ 2 $ 10 The following tables contain additional information related to leases. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Classification Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Assets Operating Operating lease ROU assets, net $ 1,658 $ 123 $ 788 $ 387 $ 401 $ 21 $ 57 $ 24 Finance Net property, plant and equipment 926 198 443 308 135 — 7 — Total lease assets $ 2,584 $ 321 $ 1,231 $ 695 $ 536 $ 21 $ 64 $ 24 Liabilities Current Operating Other current liabilities $ 208 $ 27 $ 95 $ 37 $ 58 $ 1 $ 3 $ 4 Finance Current maturities of long-term debt 119 7 24 6 18 — — — Noncurrent Operating Operating lease liabilities 1,432 102 697 354 343 21 55 23 Finance Long-Term Debt 850 172 381 301 80 — 10 — Total lease liabilities $ 2,609 $ 308 $ 1,197 $ 698 $ 499 $ 22 $ 68 $ 27 Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Cash paid for amounts included in the measurement of lease liabilities (a) Operating cash flows from operating leases $ 285 $ 34 $ 131 $ 53 $ 78 $ 2 $ 7 $ 7 Operating cash flows from finance leases 61 15 42 33 9 — 1 — Financing cash flows from finance leases 111 6 21 5 16 1 — — Lease assets obtained in exchange for new lease liabilities (non-cash) Operating (b) $ 194 $ 44 $ 30 $ 30 $ — $ — $ — $ 1 Finance 251 76 175 175 — — — — (a) No amounts were classified as investing cash flows from operating leases for the year ended December 31, 2019 . (b) Does not include ROU assets recorded as a result of the adoption of the new lease standard. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Weighted average remaining lease term (years) Operating leases 11 9 10 12 8 17 18 6 Finance leases 13 19 16 18 11 — 26 — Weighted average discount rate (a) Operating leases 3.9 % 3.5 % 3.8 % 3.9 % 3.8 % 4.2 % 4.1 % 3.6 % Finance leases 8.1 % 11.8 % 11.9 % 12.4 % 8.3 % — % 11.9 % — % (a) The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets. |
Leases | LEASES As described in Note 1 , Duke Energy adopted the revised accounting guidance for Leases effective January 1, 2019, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. Adoption of the new standard resulted in the recording of ROU assets and operating lease liabilities as follows: As of January 1, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont ROU assets $ 1,750 $ 153 $ 863 $ 407 $ 456 $ 23 $ 61 $ 26 Operating lease liabilities – current 205 28 96 35 61 1 4 4 Operating lease liabilities – noncurrent 1,504 127 766 371 395 22 58 25 As part of its operations, Duke Energy leases certain aircraft, space on communication towers, industrial equipment, fleet vehicles, fuel transportation (barges and railcars), land and office space under various terms and expiration dates. Additionally, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Indiana have finance leases related to firm natural gas pipeline transportation capacity. Duke Energy Progress and Duke Energy Florida have entered into certain PPAs, which are classified as finance and operating leases. Duke Energy has certain lease agreements, which include variable lease payments that are based on the usage of an asset. These variable lease payments are not included in the measurement of the ROU assets or operating lease liabilities on the Consolidated Financial Statements. Certain Duke Energy lease agreements include options for renewal and early termination. The intent to renew a lease varies depending on the lease type and asset. Renewal options that are reasonably certain to be exercised are included in the lease measurements. The decision to terminate a lease early is dependent on various economic factors. No termination options have been included in any of the lease measurements. Duke Energy Carolinas entered into a sale-leaseback arrangement in December 2019, to construct and occupy an office tower. The lease agreement was evaluated as a sale-leaseback of real estate and it was determined that the transaction did not qualify for sale-leaseback accounting. As a result, the transaction is being accounted for as a financing. For this transaction, Duke Energy Carolinas will continue to record the real estate on the Consolidated Balance Sheets within Property, Plant and Equipment as if it were the legal owner and will continue to recognize depreciation expense over the estimated useful life. In addition, a liability will be recorded for the failed sale-leaseback obligation within Long-Term Debt on the Consolidated Balance Sheets, with the monthly lease payments commencing after the construction phase being split between interest expense and principal pay down of the debt. Duke Energy operates various renewable energy projects and sells the generated output to utilities, electric cooperatives, municipalities and commercial and industrial customers through long-term PPAs. In certain situations, these PPAs and the associated renewable energy projects qualify as operating leases. Rental income from these leases is accounted for as Nonregulated electric and other 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 $264 million , $268 million and $262 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. Renewable energy projects owned by Duke Energy and accounted for as operating leases had a cost basis of $3,349 million and $3,358 million and accumulated depreciation of $721 million and $602 million at December 31, 2019 , and 2018 , respectively. These assets are principally classified as nonregulated electric generation and transmission assets. Piedmont has an agreement with Duke Energy Carolinas for the construction and transportation of natural gas pipelines to supply its natural gas plant needs. Piedmont accounts for this pipeline lateral contract as a lessor and sales-type lease since the present value of the sum of the lease payments equals the fair value of the asset. As of December 31, 2019 , the pipeline lateral assets owned by Piedmont had a current net investment basis of $4 million and a long-term net investment basis of $70 million . These assets are classified in Other, within Current Assets and Other Noncurrent Assets, respectively, on Piedmont's Consolidated Balance Sheets. Duke Energy Carolinas accounts for the contract as a finance lease. The activity for this contract is eliminated in consolidation at Duke Energy. The following table presents the components of lease expense. Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Operating lease expense (a) $ 292 $ 47 $ 161 $ 69 $ 92 $ 11 $ 20 $ 5 Short-term lease expense (a) 16 5 9 4 5 1 2 — Variable lease expense (a) 47 22 22 16 6 — 1 1 Finance lease expense Amortization of leased assets (b) 111 6 21 5 16 1 — — Interest on lease liabilities (c) 61 15 42 33 9 — 1 — Total finance lease expense 172 21 63 38 25 1 1 — Total lease expense $ 527 $ 95 $ 255 $ 127 $ 128 $ 13 $ 24 $ 6 (a) Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. (b) Included in Depreciation and amortization on the Consolidated Statements of Operations. (c) Included in Interest Expense on the Consolidated Statements of Operations. The following table presents rental expense for operating leases, as reported under the former lease standard. These amounts are included in Operation, maintenance and other and Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. Years Ended December 31, (in millions) 2018 2017 Duke Energy $ 268 $ 241 Duke Energy Carolinas 49 44 Progress Energy 143 130 Duke Energy Progress 75 75 Duke Energy Florida 68 55 Duke Energy Ohio 13 15 Duke Energy Indiana 21 23 Piedmont 11 7 The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 2020 $ 268 $ 31 $ 123 $ 51 $ 72 $ 2 $ 5 $ 5 2021 216 19 99 44 55 2 4 5 2022 201 19 95 40 55 2 4 5 2023 191 17 95 41 54 2 4 5 2024 176 13 95 41 54 2 4 5 Thereafter 984 57 462 283 179 21 64 5 Total operating lease payments 2,036 156 969 500 469 31 85 30 Less: present value discount (396 ) (27 ) (177 ) (109 ) (68 ) (9 ) (27 ) (3 ) Total operating lease liabilities (a) $ 1,640 $ 129 $ 792 $ 391 $ 401 $ 22 $ 58 $ 27 (a) Certain operating lease payments include renewal options that are reasonably certain to be exercised. The following table presents future minimum lease payments under operating leases, which at inception had a noncancelable term of more than one year, as reported under the former lease standard. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 2019 $ 239 $ 33 $ 97 $ 49 $ 48 $ 2 $ 6 $ 5 2020 219 29 90 46 44 2 5 5 2021 186 19 79 37 42 2 4 5 2022 170 19 76 34 42 2 4 5 2023 160 17 77 35 42 2 5 6 Thereafter 1,017 68 455 314 141 23 66 11 Total $ 1,991 $ 185 $ 874 $ 515 $ 359 $ 33 $ 90 $ 37 The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities. December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana 2020 $ 181 $ 28 $ 69 $ 44 $ 25 $ 1 2021 186 23 69 44 25 1 2022 173 23 69 44 25 1 2023 175 23 69 44 25 1 2024 121 23 55 44 11 1 Thereafter 823 314 539 528 11 27 Total finance lease payments 1,659 434 870 748 122 32 Less: amounts representing interest (690 ) (255 ) (465 ) (441 ) (24 ) (22 ) Total finance lease liabilities $ 969 $ 179 $ 405 $ 307 $ 98 $ 10 The following table presents future minimum lease payments under finance leases, as reported under the former lease standard. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana 2019 $ 170 $ 20 $ 45 $ 20 $ 25 $ 2 $ 1 2020 174 20 46 21 25 — 1 2021 177 15 45 20 25 — 1 2022 165 15 45 21 24 — 1 2023 165 15 45 21 24 — 1 Thereafter 577 204 230 209 21 — 27 Minimum annual payments 1,428 289 456 312 144 2 32 Less: amount representing interest (487 ) (180 ) (205 ) (175 ) (30 ) — (22 ) Total $ 941 $ 109 $ 251 $ 137 $ 114 $ 2 $ 10 The following tables contain additional information related to leases. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Classification Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Assets Operating Operating lease ROU assets, net $ 1,658 $ 123 $ 788 $ 387 $ 401 $ 21 $ 57 $ 24 Finance Net property, plant and equipment 926 198 443 308 135 — 7 — Total lease assets $ 2,584 $ 321 $ 1,231 $ 695 $ 536 $ 21 $ 64 $ 24 Liabilities Current Operating Other current liabilities $ 208 $ 27 $ 95 $ 37 $ 58 $ 1 $ 3 $ 4 Finance Current maturities of long-term debt 119 7 24 6 18 — — — Noncurrent Operating Operating lease liabilities 1,432 102 697 354 343 21 55 23 Finance Long-Term Debt 850 172 381 301 80 — 10 — Total lease liabilities $ 2,609 $ 308 $ 1,197 $ 698 $ 499 $ 22 $ 68 $ 27 Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Cash paid for amounts included in the measurement of lease liabilities (a) Operating cash flows from operating leases $ 285 $ 34 $ 131 $ 53 $ 78 $ 2 $ 7 $ 7 Operating cash flows from finance leases 61 15 42 33 9 — 1 — Financing cash flows from finance leases 111 6 21 5 16 1 — — Lease assets obtained in exchange for new lease liabilities (non-cash) Operating (b) $ 194 $ 44 $ 30 $ 30 $ — $ — $ — $ 1 Finance 251 76 175 175 — — — — (a) No amounts were classified as investing cash flows from operating leases for the year ended December 31, 2019 . (b) Does not include ROU assets recorded as a result of the adoption of the new lease standard. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Weighted average remaining lease term (years) Operating leases 11 9 10 12 8 17 18 6 Finance leases 13 19 16 18 11 — 26 — Weighted average discount rate (a) Operating leases 3.9 % 3.5 % 3.8 % 3.9 % 3.8 % 4.2 % 4.1 % 3.6 % Finance leases 8.1 % 11.8 % 11.9 % 12.4 % 8.3 % — % 11.9 % — % (a) The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets. |
Debt and Credit Facilities
Debt and Credit Facilities | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 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 Piedmont Unsecured debt, maturing 2020-2078 4.02 % $ 22,477 $ 1,150 $ 3,650 $ 700 $ 350 $ 1,110 $ 405 $ 2,399 Secured debt, maturing 2020-2052 3.30 % 4,537 544 1,722 335 1,387 — — — First mortgage bonds, maturing 2020-2049 (a) 4.13 % 27,977 9,557 13,800 7,575 6,225 1,449 3,169 — Finance leases, maturing 2022-2051 (b) 6.60 % 969 179 405 307 98 — 10 — Tax-exempt bonds, maturing 2022-2041 (c) 2.90 % 730 243 48 48 — 77 362 — Notes payable and commercial paper (d) 1.98 % 3,588 — — — — — — — Money pool/intercompany borrowings — 329 1,970 216 — 337 180 476 Fair value hedge carrying value adjustment 5 5 — — — — — — Unamortized debt discount and premium, net (e) 1,294 (23 ) (29 ) (17 ) (11 ) (30 ) (19 ) (2 ) Unamortized debt issuance costs (f) (316 ) (55 ) (111 ) (40 ) (62 ) (12 ) (20 ) (13 ) Total debt 3.92 % $ 61,261 $ 11,929 $ 21,455 $ 9,124 $ 7,987 $ 2,931 $ 4,087 $ 2,860 Short-term notes payable and commercial paper (3,135 ) — — — — — — — Short-term money pool/intercompany borrowings — (29 ) (1,821 ) (66 ) — (312 ) (30 ) (476 ) Current maturities of long-term debt (g) (3,141 ) (458 ) (1,577 ) (1,006 ) (571 ) — (503 ) — Total long-term debt (g) $ 54,985 $ 11,442 $ 18,057 $ 8,052 $ 7,416 $ 2,619 $ 3,554 $ 2,384 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $44 million and $419 million of finance lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility. (d) Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop 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 Duke Energy's commercial paper program was 14 days. (e) Duke Energy includes $1,275 million and $137 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively. (f) Duke Energy includes $37 million in purchase accounting adjustments primarily related to the merger with Progress Energy. (g) Refer to Note 18 for additional information on amounts from consolidated VIEs. December 31, 2018 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 Piedmont Unsecured debt, maturing 2019-2078 4.26 % $ 20,955 $ 1,150 $ 3,800 $ 50 $ 350 $ 1,000 $ 408 $ 2,150 Secured debt, maturing 2020-2037 3.69 % 4,297 450 1,703 300 1,403 — — — First mortgage bonds, maturing 2019-2048 (a) 4.32 % 25,628 8,759 13,100 7,574 5,526 1,099 2,670 — Finance leases, maturing 2019-2051 (b) 5.06 % 941 109 251 137 114 2 10 — Tax-exempt bonds, maturing 2019-2041 (c) 3.40 % 941 243 48 48 — 77 572 — Notes payable and commercial paper (d) 2.73 % 4,035 — — — — — — — Money pool/intercompany borrowings — 739 1,385 444 108 299 317 198 Fair value hedge carrying value adjustment 5 5 — — — — — — Unamortized debt discount and premium, net (e) 1,434 (23 ) (29 ) (15 ) (11 ) (31 ) (8 ) (1 ) Unamortized debt issuance costs (f) (297 ) (54 ) (112 ) (40 ) (61 ) (7 ) (20 ) (11 ) Total debt 4.13 % $ 57,939 $ 11,378 $ 20,146 $ 8,498 $ 7,429 $ 2,439 $ 3,949 $ 2,336 Short-term notes payable and commercial paper (3,410 ) — — — — — — — Short-term money pool/intercompany borrowings — (439 ) (1,235 ) (294 ) (108 ) (274 ) (167 ) (198 ) Current maturities of long-term debt (g) (3,406 ) (6 ) (1,672 ) (603 ) (270 ) (551 ) (63 ) (350 ) Total long-term debt (g) $ 51,123 $ 10,933 $ 17,239 $ 7,601 $ 7,051 $ 1,614 $ 3,719 $ 1,788 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $63 million and $531 million of finance lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility. (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 backstop 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 Duke Energy's commercial paper programs was 16 days. (e) Duke Energy includes $1,380 million and $156 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively. (f) Duke Energy includes $41 million in purchase accounting adjustments primarily related to the merger with Progress Energy. (g) Refer to Note 18 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, 2019 Unsecured Debt Duke Energy (Parent) June 2020 2.100 % $ 330 Duke Energy Progress December 2020 2.510 % (a) 700 First Mortgage Bonds Duke Energy Florida January 2020 1.850 % 250 Duke Energy Florida April 2020 4.550 % 250 Duke Energy Carolinas June 2020 4.300 % 450 Duke Energy Indiana July 2020 3.750 % 500 Duke Energy Progress September 2020 2.065 % (a) 300 Other (b) 361 Current maturities of long-term debt $ 3,141 (a) Debt has a floating interest rate. (b) Includes finance lease obligations, amortizing debt and small bullet maturities. 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, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy (a) Carolinas Energy Progress Florida Ohio Indiana Piedmont 2020 $ 3,141 $ 458 $ 1,578 $ 1,006 $ 572 — $ 503 $ — 2021 5,053 504 2,257 932 825 50 70 160 2022 4,334 830 1,048 508 90 — 94 — 2023 3,112 1,006 398 319 79 325 3 45 2024 1,965 306 227 160 67 25 154 40 Thereafter 39,542 8,875 14,267 6,190 6,427 2,261 3,272 2,155 Total long-term debt, including current maturities $ 57,147 $ 11,979 $ 19,775 $ 9,115 $ 8,060 $ 2,661 $ 4,096 $ 2,400 (a) Excludes $1,448 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition. 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, 2019 Duke Duke Duke Duke Duke Energy Energy Energy Energy (in millions) Energy Carolinas Progress Ohio Indiana Tax-exempt bonds $ 312 $ — $ — $ 27 $ 285 Commercial paper (a) 625 300 150 25 150 Total $ 937 $ 300 $ 150 $ 52 $ 435 December 31, 2018 Duke Duke Duke Duke Duke Energy Energy Energy Energy (in millions) Energy Carolinas Progress Ohio Indiana Tax-exempt bonds $ 312 $ — $ — $ 27 $ 285 Commercial paper (a) 625 300 150 25 150 Total $ 937 $ 300 $ 150 $ 52 $ 435 (a) Progress Energy amounts are equal to Duke Energy Progress amounts. Summary of Significant Debt Issuances The following tables summarize significant debt issuances (in millions). Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Maturity Interest Duke Energy Energy Energy Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Unsecured Debt March 2019 (a) Mar 2022 2.538 % (b) $ 300 $ 300 $ — $ — $ — $ — $ — $ — March 2019 (a) Mar 2022 3.227 % 300 300 — — — — — — May 2019 (e) Jun 2029 3.500 % 600 — — — — — — 600 June 2019 (a) Jun 2029 3.400 % 600 600 — — — — — — June 2019 (a) Jun 2049 4.200 % 600 600 — — — — — — July 2019 (g) Jul 2049 4.320 % 40 — — — — 40 — — September 2019 (g) Oct 2025 3.230 % 95 — — — — 95 — — September 2019 (g) Oct 2029 3.560 % 75 — — — — 75 — — November 2019 (h) Nov 2021 2.167 % (b) 200 — — — 200 — — — First Mortgage Bonds January 2019 (c) Feb 2029 3.650 % 400 — — — — 400 — — January 2019 (c) Feb 2049 4.300 % 400 — — — — 400 — — March 2019 (d) Mar 2029 3.450 % 600 — — 600 — — — — August 2019 (a) Aug 2029 2.450 % 450 — 450 — — — — — August 2019 (a) Aug 2049 3.200 % 350 — 350 — — — — — September 2019 (f) Oct 2049 3.250 % 500 — — — — — 500 — November 2019 (i) Dec 2029 2.500 % 700 — — — 700 — — — Total issuances $ 6,210 $ 1,800 $ 800 $ 600 $ 900 $ 1,010 $ 500 $ 600 (a) Debt issued to pay down short-term debt and for general corporate purposes. (b) Debt issuance has a floating interest rate. (c) Debt issued to repay at maturity $450 million first mortgage bonds due April 2019, pay down short-term debt and for general corporate purposes. (d) Debt issued to fund eligible green energy projects in the Carolinas. (e) Debt issued to repay in full the outstanding $350 million Piedmont unsecured term loan due September 2019, pay down short-term debt and for general corporate purposes. (f) Debt issued to retire $150 million of pollution control bonds, pay down short-term debt and for general corporate purposes. (g) Debt issued to repay at maturity $100 million debentures due October 2019, pay down short-term debt and for general corporate purposes. (h) Debt issued to fund storm restoration costs and for general corporate purposes. (i) Debt issued to reimburse the payment of existing and new Eligible Green Expenditures in Florida. In January 2020, Duke Energy Carolinas closed and funded $900 million of first mortgage bonds of which $500 million carry a fixed interest rate of 2.45% and mature February 2030 and $400 million carry a fixed interest rate of 3.20% and mature August 2049. The proceeds will be used to repay at maturity $450 million , 4.30% debentures maturing June 2020, and for general corporate purposes. Year Ended December 31, 2018 Duke Duke Duke Duke Maturity Interest Duke Energy Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Florida Unsecured Debt March 2018 (a) April 2025 3.950 % $ 250 $ 250 $ — $ — $ — May 2018 (b) May 2021 3.114 % 500 500 — — — September 2018 (c) September 2078 5.625 % 500 500 — — — First Mortgage Bonds March 2018 (d) March 2023 3.050 % 500 — 500 — — March 2018 (d) March 2048 3.950 % 500 — 500 — — June 2018 (e) July 2028 3.800 % 600 — — — 600 June 2018 (e) July 2048 4.200 % 400 — — — 400 August 2018 (f) September 2023 3.375 % 300 — — 300 — August 2018 (f) September 2028 3.700 % 500 — — 500 — November 2018 (g) May 2022 3.350 % 350 — 350 — — November 2018 (g) November 2028 3.950 % 650 — 650 — — Total issuances $ 5,050 $ 1,250 $ 2,000 $ 800 $ 1,000 (a) Debt issued to pay down short-term debt. (b) Debt issued to pay down short-term debt. Debt issuance has a floating debt rate. (c) Callable after September 2023 at par. Junior subordinated hybrid debt issued to pay down short-term debt and for general corporate purposes. (d) Debt issued to repay at maturity a $300 million first mortgage bond due April 2018, pay down intercompany short-term debt and for general corporate purposes. (e) Debt issued to repay a portion of intercompany short-term debt under the money pool borrowing arrangement and for general corporate purposes. (f) Debt issued to repay short-term debt and for general corporate purposes. (g) Debt issued to fund eligible green energy projects, including zero-carbon solar and energy storage, in the Carolinas. Available Credit Facilities In March 2019, Duke Energy amended its existing $8 billion Master Credit Facility to extend the termination date to March 2024. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit 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 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. Duke Energy Carolinas and Duke Energy Progress are also required to each maintain $250 million of available capacity under the Master Credit Facility as security to meet obligations under plea agreements reached with the U.S. Department of Justice in 2015 related to violations at North Carolina facilities with ash basins. The table below includes the current borrowing sublimits and available capacity under these credit facilities. December 31, 2019 Duke Duke Duke Duke Duke Duke Duke Energy Energy Energy Energy Energy Energy (in millions) Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Facility size (a) $ 8,000 $ 2,650 $ 1,500 $ 1,250 $ 800 $ 600 $ 600 $ 600 Reduction to backstop issuances Commercial paper (b) (2,537 ) (1,119 ) (325 ) (207 ) — (296 ) (176 ) (414 ) Outstanding letters of credit (50 ) (42 ) (4 ) (2 ) — — — (2 ) Tax-exempt bonds (81 ) — — — — — (81 ) — Coal ash set-aside (500 ) — (250 ) (250 ) — — — — Available capacity $ 4,832 $ 1,489 $ 921 $ 791 $ 800 $ 304 $ 343 $ 184 (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. Three-Year Revolving Credit Facility Duke Energy (Parent) has a $1 billion revolving credit facility. The facility had an initial termination date of June 2020, but in May 2019, Duke Energy extended the termination date of the facility to May 2022. Borrowings under this facility will be used for general corporate purposes. As of December 31, 2019 , $500 million has been drawn under this facility. This balance is classified as Long-term debt on Duke Energy's Consolidated Balance Sheets. Any undrawn commitments can be drawn, and borrowings can be prepaid, at any time throughout the term of the facility. The terms and conditions of the facility are generally consistent with those governing Duke Energy's Master Credit Facility. Duke Energy Progress Term Loan Facility In December 2018, Duke Energy Progress entered into a two-year term loan facility with commitments totaling $700 million . Borrowings under the facility were used to pay storm-related costs, pay down commercial paper and to partially finance an upcoming bond maturity. As of December 31, 2019 , the entire $700 million has been drawn under the term loan. This balance is classified as Current maturities of long-term debt on Duke Energy Progress' Consolidated Balance Sheets. Piedmont Term Loan Facility In May 2019, the $350 million Piedmont term loan was paid off in full with proceeds from the $600 million Piedmont debt offering. Other Debt Matters In September 2019, Duke Energy filed a Form S-3 with the 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 was filed to replace a similar prior filing upon expiration of its three-year term and also allows for the issuance of common and preferred stock by Duke Energy. The expired Form S-3 was amended in March 2019, to allow Duke Energy to issue preferred stock. 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, 2019 , and 2018 , was $1,049 million and $1,010 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. Money Pool The Subsidiary Registrants, excluding Progress Energy, are eligible to 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. Duke Energy's Master Credit Facility contains a covenant requiring the debt-to-total capitalization ratio not to exceed 65% for each borrower, excluding Piedmont, and 70% for Piedmont. 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, 2019 , each of the Duke Energy Registrants was 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, 2019 , and 2018 , Duke Energy had loans outstanding of $777 million , including $36 million at Duke Energy Progress and $741 million , including $37 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 Other Noncurrent Assets on the Consolidated Balance Sheets. |
Guarantees and Indemnifications
Guarantees and Indemnifications | 12 Months Ended |
Dec. 31, 2019 | |
Guarantees [Abstract] | |
Guarantees and Indemnifications | GUARANTEES AND INDEMNIFICATIONS Duke Energy has various financial and performance guarantees and indemnifications with non-consolidated entities, which are issued in the normal course of business. As discussed below, these contracts include performance guarantees, standby letters of credit, debt guarantees and indemnifications. Duke Energy enters into these arrangements to facilitate commercial transactions with third parties by enhancing the value of the transaction to the third party. At December 31, 2019 , Duke Energy does 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 previously wholly-owned 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 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, 2019 , the maximum potential amount of future payments associated with these guarantees were $65 million , the majority of which expires by 2028. In October 2017, ACP executed a $3.4 billion revolving credit facility with a stated maturity date of October 2021. Duke Energy entered into a guarantee agreement to support its share of the ACP revolving credit facility. Duke Energy's maximum exposure to loss under the terms of the guarantee is $827 million as of December 31, 2019 . This amount represents 47% of the outstanding borrowings under the credit facility. In addition to the Spectra Capital and ACP revolving credit facility guarantees above, 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. 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 these entities. The maximum potential amount of future payments required under these guarantees as of December 31, 2019 , was $128 million , of which, $114 million expire between 2020 and 2030, with the remaining performance guarantees having no contractual expiration. Additionally, certain guarantees have uncapped maximum potential payments; however, Duke Energy does not believe these guarantees will have a material effect on its results of operations, cash flows or financial position. Duke Energy uses bank-issued standby 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 that 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, 2019 , Duke Energy had issued a total of $634 million in letters of credit, which expire between 2020 and 2022. The unused amount under these letters of credit was $81 million . Duke Energy recognized $23 million as of December 31, 2019 , and 2018 |
Joint Ownership of Generating a
Joint Ownership of Generating and Transmission Facilities | 12 Months Ended |
Dec. 31, 2019 | |
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. The Duke Energy Registrants pay their ownership share of additional construction costs, fuel inventory purchases and operating expenses. 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. 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 Electric Utilities and Infrastructure segment. December 31, 2019 Construction Ownership Property, Plant Accumulated Work in (in millions except for ownership interest) Interest and Equipment Depreciation Progress Duke Energy Carolinas Catawba (units 1 and 2) (a) 19.25 % $ 1,011 $ 510 $ 21 W.S. Lee CC (b) 87.27 % 609 32 1 Duke Energy Indiana Gibson (unit 5) (c) 50.05 % 410 183 3 Vermillion (d) 62.50 % 172 119 — Transmission and local facilities (c) Various 5,421 1,436 172 (a) Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and PMPA. (b) Jointly owned with NCEMC. (c) Jointly owned with WVPA and IMPA. (d) Jointly owned with WVPA. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2019 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS Duke Energy records an 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 AROs 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Decommissioning of nuclear power facilities (a) $ 6,633 $ 2,551 $ 4,028 $ 3,499 $ 529 $ — $ — $ — Closure of ash impoundments 6,333 3,118 2,368 2,352 16 41 805 — Other 352 65 75 42 33 39 27 17 Total asset retirement obligation $ 13,318 $ 5,734 $ 6,471 $ 5,893 $ 578 $ 80 $ 832 $ 17 Less: current portion 881 206 485 485 — 1 189 — Total noncurrent asset retirement obligation $ 12,437 $ 5,528 $ 5,986 $ 5,408 $ 578 $ 79 $ 643 $ 17 (a) Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy. Nuclear Decommissioning Liability AROs 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 are stated in 2018 or 2019 dollars, depending on 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) Year of Cost Study Duke Energy $ 24 $ 9,152 2018 and 2019 Duke Energy Carolinas (b)(c) — 4,365 2018 Duke Energy Progress (d) 24 4,181 2019 Duke Energy Florida (e) — 606 2019 (a) Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida. (b) Decommissioning cost for Duke Energy Carolinas reflects its ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. (c) Duke Energy Carolinas' site-specific nuclear decommissioning cost study completed in 2018 was filed with the NCUC and PSCSC in 2019. A new funding study was also completed and filed with the NCUC and PSCSC in 2019. (d) Duke Energy Progress' site-specific nuclear decommissioning cost study completed in 2019 is expected to be filed with the NCUC and PSCSC during the first quarter 2020. Duke Energy Progress will also complete a new funding study, which will be completed and filed with the NCUC and PSCSC in July 2020. (e) During 2019, Duke Energy Florida reached an agreement to transfer decommissioning work for Crystal River Unit 3 to a third party. The agreement requires regulatory approval from the NRC and the FPSC. See Note 4 for more information. Nuclear Decommissioning Trust Funds Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida each maintain NDTFs that are intended to pay for the decommissioning costs of their 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 IRS. Use of the NDTF 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 AROs. 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 AROs associated with nuclear decommissioning. Duke Energy Florida is actively decommissioning Crystal River Unit 3 and was granted an exemption from the NRC, which allows for use of the NDTF for all aspects of nuclear decommissioning. The entire balance of Duke Energy Florida's NDTF may be applied toward license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3 and is excluded from the table below. See Note 17 for additional information related to the fair value of the Duke Energy Registrants' NDTFs. December 31, (in millions) 2019 2018 Duke Energy $ 6,766 $ 5,579 Duke Energy Carolinas 3,837 3,133 Duke Energy Progress 2,929 2,446 Nuclear Operating Licenses Operating licenses for nuclear units are potentially subject to extension. The following table includes the current expiration of nuclear operating licenses. 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 The NRC has acknowledged permanent cessation of operation and permanent removal of fuel from the reactor vessel at Crystal River Unit 3. Therefore, the license no longer authorizes operation of the reactor. In 2019, Duke Energy Florida entered into an agreement for the accelerated decommissioning of Crystal River Unit 3. The agreement is subject to the approval of the NRC and FPSC. See Note 4 for more information. Closure of Ash Impoundments The Duke Energy Registrants are subject to state and federal regulations covering the closure of coal ash impoundments, including the EPA CCR rule and the Coal Ash Act, and other agreements. AROs recorded on the Duke Energy Registrants' Consolidated Balance Sheets include the legal obligation for closure of coal ash basins and the disposal of related ash as a result of these regulations and agreements. 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 specific closure plans. 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 ash 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 and other agreements. The ARO amount will be adjusted as additional information is gained through the closure and post-closure process, including acceptance and approval of compliance approaches, which may change management assumptions, and may result in a material change to the balance. See ARO Liability Rollforward section below for information on revisions made to the coal ash liability during 2019 and 2018 . Asset retirement costs associated with the AROs 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. See Note 4 for additional information on recovery of coal ash costs. ARO Liability Rollforward The following tables present 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 Piedmont Balance at December 31, 2017 $ 10,175 $ 3,610 $ 5,414 $ 4,673 $ 742 $ 84 $ 781 $ 15 Accretion expense (a) 427 179 225 196 29 4 29 1 Liabilities settled (b) (638 ) (281 ) (272 ) (227 ) (45 ) (5 ) (79 ) — Liabilities incurred in the current year (c) 39 8 5 — 5 — 25 — Revisions in estimates of cash flows 464 433 39 178 (140 ) 10 (34 ) 3 Balance at December 31, 2018 10,467 3,949 5,411 4,820 591 93 722 19 Accretion expense (a) 508 235 252 227 25 3 28 1 Liabilities settled (b) (895 ) (329 ) (499 ) (460 ) (39 ) (12 ) (54 ) — Liabilities incurred in the current year 25 18 7 — 7 — — — Revisions in estimates of cash flows (d) 3,213 1,861 1,300 1,306 (6 ) (4 ) 136 (3 ) Balance at December 31, 2019 $ 13,318 $ 5,734 $ 6,471 $ 5,893 $ 578 $ 80 $ 832 $ 17 (a) Substantially all accretion expense for the years ended December 31, 2019 , and 2018 , relates to Duke Energy’s regulated operations and has been deferred in accordance with regulatory accounting treatment. (b) Amounts primarily relate to ash impoundment closures and nuclear decommissioning of Crystal River Unit 3. (c) Amounts primarily relate to AROs recorded as a result of state agency closure requirements at Duke Energy Indiana. (d) Amounts primarily relate to increases in closure estimates for certain ash impoundments as a result of the NCDEQ's April 1 Order and the related settlement agreement dated December 31, 2019. See Note 5 for more information. The amount recorded in the fourth quarter of 2019 for coal ash closures as a result of the settlement was not material. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 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 Piedmont Land $ 2,091 $ 520 $ 884 $ 449 $ 435 $ 150 $ 117 $ 388 Plant – Regulated Electric generation, distribution and transmission 15-100 111,739 42,723 48,142 30,018 18,124 5,838 15,032 — Natural gas transmission and distribution 4-73 9,839 — — — — 2,892 — 6,947 Other buildings and improvements 23-90 1,810 714 401 162 239 269 278 148 Plant – Nonregulated Electric generation, distribution and transmission 5-30 5,103 — — — — — — — Other buildings and improvements 25-35 488 — — — — — — — Nuclear fuel 3,253 1,891 1,362 1,362 — — — — Equipment 3-25 2,313 546 665 452 213 319 205 128 Construction in process 6,102 1,389 2,149 1,114 1,035 504 381 531 Other 2-40 4,916 1,139 1,467 1,046 411 269 292 304 Total property, plant and equipment (a)(e) 147,654 48,922 55,070 34,603 20,457 10,241 16,305 8,446 Total accumulated depreciation – regulated (b)(c) (43,419 ) (16,525 ) (17,159 ) (11,915 ) (5,236 ) (2,843 ) (5,233 ) (1,681 ) Total accumulated depreciation – nonregulated (d)(e) (2,354 ) — — — — — — — Generation facilities to be retired, net 246 — 246 246 — — — — Total net property, plant and equipment $ 102,127 $ 32,397 $ 38,157 $ 22,934 $ 15,221 $ 7,398 $ 11,072 $ 6,765 (a) Includes finance leases of $952 million , $211 million , $443 million , $308 million , $135 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $143 million , $17 million and $126 million , respectively, of accumulated amortization of finance leases. (b) Includes $1,807 million , $1,082 million , $725 million and $725 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 finance leases of $6 million , $13 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively. (d) Includes accumulated amortization of finance leases of $20 million at Duke Energy. (e) Includes gross property, plant and equipment cost of consolidated VIEs of $5,747 million and accumulated depreciation of consolidated VIEs of $1,041 million at Duke Energy. During the year ended December 31, 2019, Duke Energy evaluated recoverability of the wind and solar generation assets included in the minority interest sale as a result of the portfolio fair value of consideration received being less than the carrying value of the assets and determined the assets were all recoverable. Additionally, in 2019, Duke Energy evaluated recoverability of its renewable merchant plants principally located in the Electric Reliability Council of Texas West market due to declining market pricing and declining long-term forecasted energy prices, primarily driven by lower forecasted natural gas prices. Duke Energy determined that the assets were not impaired because the carrying value of $160 million approximates the aggregate estimated future cash flows. A continued decline in energy market pricing would likely result in a future impairment. December 31, 2018 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 Piedmont Land $ 2,072 $ 472 $ 868 $ 445 $ 423 $ 136 $ 116 $ 448 Plant – Regulated Electric generation, distribution and transmission 15-100 100,706 38,468 42,760 26,147 16,613 5,182 14,292 — Natural gas transmission and distribution 12-80 8,808 — — — — 2,719 — 6,089 Other buildings and improvements 24-90 1,966 681 636 295 341 270 253 126 Plant – Nonregulated Electric generation, distribution and transmission 5-30 4,410 — — — — — — — Other buildings and improvements 25-35 494 — — — — — — — Nuclear fuel 3,460 1,898 1,562 1,562 — — — — Equipment 3-55 2,141 467 565 399 166 384 178 141 Construction in process 5,726 1,678 2,515 1,659 856 412 325 382 Other 3-40 4,675 1,077 1,354 952 393 257 279 300 Total property, plant and equipment (a)(d) 134,458 44,741 50,260 31,459 18,792 9,360 15,443 7,486 Total accumulated depreciation – regulated (b)(c)(d) (41,079 ) (15,496 ) (16,398 ) (11,423 ) (4,968 ) (2,717 ) (4,914 ) (1,575 ) Total accumulated depreciation – nonregulated (c)(d) (2,047 ) — — — — — — — Generation facilities to be retired, net 362 — 362 362 — — — — Total net property, plant and equipment $ 91,694 $ 29,245 $ 34,224 $ 20,398 $ 13,824 $ 6,643 $ 10,529 $ 5,911 (a) Includes finance leases of $1,237 million , $135 million , $257 million , $137 million , $120 million , $73 million and $35 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 $131 million , $14 million and $117 million , respectively, of accumulated amortization of finance leases. (b) Includes $1,947 million , $1,087 million , $860 million and $860 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 finance leases of $61 million , $12 million , $20 million and $10 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 $4,007 million and accumulated depreciation of consolidated VIEs of $698 million at Duke Energy. During the year ended December 31, 2017, Duke Energy recorded a pretax impairment charge of $69 million on a wholly owned non-contracted wind project. The impairment was recorded within Impairment charges on Duke Energy’s Consolidated Statements of Operations. $58 million of the impairment related to property, plant and equipment and $11 million of the impairment related to a net intangible asset. The charge represents the excess carrying value over the estimated fair value of the project, which was based on a Level 3 Fair Value measurement that was determined from the income approach using discounted cash flows. The impairment was primarily due to the non-contracted wind project being located in a market that has experienced continued declining market pricing during 2017 and declining long-term forecasted energy and capacity prices, driven by low natural gas prices, additional renewable generation placed in service and lack of significant load growth. The following tables present capitalized interest, which includes the debt component of AFUDC. Years Ended December 31, (in millions) 2019 2018 2017 Duke Energy $ 159 $ 161 $ 128 Duke Energy Carolinas 30 35 45 Progress Energy 31 51 45 Duke Energy Progress 28 26 21 Duke Energy Florida 3 25 24 Duke Energy Ohio 22 17 10 Duke Energy Indiana 26 27 9 Piedmont 26 17 12 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS GOODWILL Duke Energy The following table presents goodwill by reportable segment for Duke Energy included on Duke Energy's Consolidated Balance Sheets at December 31, 2019 , and 2018 . Electric Utilities Gas Utilities Commercial (in millions) and Infrastructure and Infrastructure Renewables Total Goodwill Balance at December 31, 2018 $ 17,379 $ 1,924 $ 122 $ 19,425 Accumulated impairment charges (a) — — (122 ) (122 ) Goodwill balance at December 31, 2018, adjusted for accumulated impairment charges $ 17,379 $ 1,924 $ — $ 19,303 Goodwill Balance at December 31, 2019 $ 17,379 $ 1,924 $ 122 $ 19,425 Accumulated impairment charges (a) — — (122 ) (122 ) Goodwill balance at December 31, 2019, adjusted for accumulated impairment charges $ 17,379 $ 1,924 $ — $ 19,303 (a) Duke Energy evaluated the recoverability of goodwill during 2018 and 2017 and recorded impairment charges of $93 million and $29 million , respectively, related to the Commercial Renewables reporting unit included in Impairment charges on Duke Energy’s Consolidated Statements of Operations. The fair value of the reporting unit was determined based on the income approach and market approach in 2018 and 2017, respectively. See "Goodwill Impairment Testing" below for the results of the 2019 goodwill impairment test. Duke Energy Ohio Duke Energy Ohio's Goodwill balance of $920 million , allocated $596 million to Electric Utilities and Infrastructure and $324 million to Gas Utilities and Infrastructure, is presented net of accumulated impairment charges of $216 million on the Consolidated Balance Sheets at December 31, 2019 , and 2018 . Progress Energy Progress Energy's Goodwill is included in the Electric Utilities and Infrastructure segment and there are no accumulated impairment charges. Piedmont Piedmont's Goodwill is included in the Gas Utilities and Infrastructure segment and there are no accumulated impairment charges. Goodwill Impairment Testing Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont are required to perform an annual goodwill impairment test as of the same date each year and, accordingly, perform their annual impairment testing of goodwill as of August 31. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont 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 for Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont exceeded their respective carrying values at the date of the annual impairment analysis, no goodwill impairment charges were recorded in 2019 . INTANGIBLE ASSETS The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2019 , and 2018 . December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Emission allowances $ 18 $ — $ 5 $ 2 $ 3 $ — $ 12 $ — Renewable energy certificates 172 53 118 118 — 1 — — Natural gas, coal and power contracts 24 — — — — — 24 — Renewable operating and development projects 89 — — — — — — — Other 2 — — — — — — — Total gross carrying amounts 305 53 123 120 3 1 36 — Accumulated amortization – natural gas, coal and power contracts (21 ) — — — — — (21 ) — Accumulated amortization – renewable operating and development projects (34 ) — — — — — — — Accumulated amortization – other (1 ) — — — — — — — Total accumulated amortization (56 ) — — — — — (21 ) — Total intangible assets, net $ 249 $ 53 $ 123 $ 120 $ 3 $ 1 $ 15 $ — December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Emission allowances $ 18 $ — $ 5 $ 2 $ 3 $ — $ 12 $ — Renewable energy certificates 168 46 120 120 — 2 — — Natural gas, coal and power contracts 24 — — — — — 24 — Renewable operating and development projects 84 — — — — — — — Other 6 — — — — — — 3 Total gross carrying amounts 300 46 125 122 3 2 36 3 Accumulated amortization – natural gas, coal and power contracts (20 ) — — — — — (20 ) — Accumulated amortization – renewable operating and development projects (29 ) — — — — — — — Accumulated amortization – other (5 ) — — — — — — (3 ) Total accumulated amortization (54 ) — — — — — (20 ) (3 ) Total intangible assets, net $ 246 $ 46 $ 125 $ 122 $ 3 $ 2 $ 16 $ — See Note 11 for information related to 2017 impairment charge. Amortization Expense Amortization expense amounts for natural gas, coal and power contracts, renewable operating projects and other intangible assets are immaterial for the years ended December 31, 2019 , 2018 and 2017 , and are expected to be immaterial for the next five years as of December 31, 2019 . |
Investments in Unconsolidated A
Investments in Unconsolidated Affiliates | 12 Months Ended |
Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Unconsolidated Affiliates | INVESTMENTS IN UNCONSOLIDATED AFFILIATES EQUITY METHOD INVESTMENTS Investments in affiliates that are not controlled by Duke Energy, but over which it has significant influence, are accounted for using the equity method. 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, 2019 2018 2017 Equity in Equity in Equity in (in millions) Investments earnings Investments earnings Investments earnings Electric Utilities and Infrastructure $ 122 $ 9 $ 97 $ 6 $ 89 $ 5 Gas Utilities and Infrastructure 1,388 114 1,003 27 763 62 Commercial Renewables 314 (4 ) 201 (1 ) 190 (5 ) Other 112 43 108 51 133 57 Total $ 1,936 $ 162 $ 1,409 $ 83 $ 1,175 $ 119 During the years ended December 31, 2019 , 2018 and 2017 , Duke Energy received distributions from equity investments of $55 million , $108 million and $13 million , respectively, which are included in Other assets within Cash Flows from Operating Activities on the Consolidated Statements of Cash Flows. During the years ended December 31, 2019 , 2018 and 2017 , Duke Energy received distributions from equity investments of $11 million , $137 million and $281 million , respectively, which are included in Return of investment capital within Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows. During the years ended December 31, 2019 , 2018 and 2017 , Piedmont received distributions from equity investments of $1 million , $1 million and $4 million , respectively, which are included in Other assets within Cash Flows from Operating Activities and $4 million , $3 million and $2 million , respectively, which are included within Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows. Significant investments in affiliates accounted for under the equity method are discussed below. Electric Utilities and Infrastructure Duke Energy owns a 50% interest in DATC and in Pioneer, which build, own and operate electric transmission facilities in North America. Gas Utilities and Infrastructure The table below outlines Duke Energy's ownership interests in natural gas pipeline companies and natural gas storage facilities. Investment Amount (in millions) Ownership December 31, December 31, Entity Name Interest 2019 2018 Pipeline Investments ACP 47 % $ 1,179 $ 797 Sabal Trail 7.5 % 121 112 (c) Constitution 24 % — 25 Cardinal (a) 21.49 % 9 10 Storage Facilities Pine Needle (a) 45 % 28 13 Hardy Storage (a) 50 % 51 46 Total Investments (b) $ 1,388 $ 1,003 (a) Piedmont owns the Cardinal, Pine Needle and Hardy Storage investments. (b) Duke Energy includes purchase accounting adjustments related to Piedmont. (c) Sabal Trail returned capital of $112 million during the year ended December 31, 2018. In October 2017, Duke Energy entered into a guarantee agreement to support its share of the ACP revolving credit facility. See Note 8 for additional information. As a result of the financing, ACP returned capital of $265 million to Duke Energy. During 2018 and 2019, ACP received several adverse court rulings as described in Note 4 . As a result, Duke Energy evaluated this investment for impairment and determined that fair value approximated carrying value and therefore no impairment was necessary. For regulatory matters and other information on the ACP, Sabal Trail and Constitution investments, see Notes 4 and 18 . Commercial Renewables DS Cornerstone, LLC, which owns wind farm projects in the U.S. was part of a sale of minority interest in a certain portion of renewable assets to John Hancock in 2019. See Note 2 for more information on the sale. Prior to the sale, Duke Energy had a 50% interest in DS Cornerstone, LLC. After the sale, Duke Energy has a 26% interest in the investment. In 2019, Duke Energy acquired a majority ownership in a portfolio of distributed fuel cell projects from Bloom Energy Corporation. Duke Energy is not the primary beneficiary of the assets within the portfolio and does not consolidate the assets in the portfolio. Impairment of Equity Method Investments Duke Energy recorded OTTIs of the Constitution investment within Equity in earnings of unconsolidated affiliates on Duke Energy's Consolidated Statements of Operations of $25 million and $55 million for the years ended December 31, 2019, and 2018, respectively. The current year charge resulted in the full write-down of Duke Energy's investment in Constitution. The impairments were primarily due to the continued delay in resolving project uncertainty through the courts and regulatory bodies, as well as recent pricing concerns between the customers and owners. For additional information on the Constitution investment, see Note 4 . Other Duke Energy owns a 17.5% indirect interest in NMC, which owns and operates a methanol and MTBE business in Jubail, Saudi Arabia. Duke Energy's economic ownership interest decreased from 25% to 17.5% with the successful startup of NMC's polyacetal production facility in 2017. Duke Energy retains 25% of the board representation and voting rights of NMC. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
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) 2019 2018 2017 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 841 $ 985 $ 858 Indemnification coverages (b) 20 22 23 Joint Dispatch Agreement (JDA) revenue (c) 60 84 49 JDA expense (c) 186 207 145 Intercompany natural gas purchases (d) 15 15 9 Progress Energy Corporate governance and shared service expenses (a) $ 778 $ 906 $ 736 Indemnification coverages (b) 37 34 38 JDA revenue (c) 186 207 145 JDA expense (c) 60 84 49 Intercompany natural gas purchases (d) 76 78 77 Duke Energy Progress Corporate governance and shared service expenses (a) $ 462 $ 577 $ 438 Indemnification coverages (b) 15 13 15 JDA revenue (c) 186 207 145 JDA expense (c) 60 84 49 Intercompany natural gas purchases (d) 76 78 77 Duke Energy Florida Corporate governance and shared service expenses (a) $ 316 $ 329 $ 298 Indemnification coverages (b) 22 21 23 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 354 $ 374 $ 363 Indemnification coverages (b) 4 5 5 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 412 $ 405 $ 370 Indemnification coverages (b) 7 7 8 Piedmont Corporate governance and shared service expenses (a) $ 138 $ 170 $ 50 Indemnification coverages (b) 3 2 2 Intercompany natural gas sales (d) 91 93 86 Natural gas storage and transportation costs (e) 23 25 25 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily 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 and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Consolidated Statements of Operations and Comprehensive Income. (d) Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Consolidated Statements of Operations and Comprehensive Income. These intercompany revenues and expenses are eliminated in consolidation. (e) Piedmont has related party transactions as a customer of its equity method investments in Pine Needle, Hardy Storage, and Cardinal natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Consolidated Statements of Operations and Comprehensive Income. In addition to the amounts presented above, the Subsidiary Registrants have 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 7 for more information regarding money pool. These transactions of the Subsidiary Registrants are incurred in the ordinary course of business and are eliminated in consolidation. As discussed in Note 18 , 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. Intercompany Income Taxes Duke Energy and the Subsidiary Registrants 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 and payables for the Subsidiary Registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana Piedmont December 31, 2019 Intercompany income tax receivable $ — $ 125 $ 28 $ — $ 9 $ 28 $ 13 Intercompany income tax payable 5 — — 2 — — — December 31, 2018 Intercompany income tax receivable $ 52 $ 47 $ 29 $ — $ — $ 8 $ — Intercompany income tax payable — — — 16 3 — 45 |
Derivatives and Hedging
Derivatives and Hedging | 12 Months Ended |
Dec. 31, 2019 | |
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. Piedmont enters into natural gas supply contracts to provide diversification, reliability and natural gas cost benefits to its customers. Interest rate derivatives are used to manage interest rate risk associated with borrowings. All derivative instruments not identified as 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 or Treasury locks 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 impacts 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, 2019 , 2018 and 2017 were not material. Duke Energy's interest rate derivatives designated as hedges include interest rate swaps used to hedge existing debt within the Commercial Renewables business and forward-starting interest rate swaps not accounted for under regulatory accounting. Undesignated Contracts Undesignated contracts primarily include contracts not designated as a hedge because they are accounted for under regulatory accounting or contracts that do not qualify for hedge accounting. Duke Energy’s interest rate swaps for its regulated 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 on the Duke Energy Registrant's Consolidated Statements of Operations and Comprehensive Income. The following tables show notional amounts of outstanding derivatives related to interest rate risk. December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 993 $ — $ — $ — $ — $ — Undesignated contracts 1,277 450 800 250 550 27 Total notional amount (a) $ 2,270 $ 450 $ 800 $ 250 $ 550 $ 27 December 31, 2018 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges (a) $ 923 $ — $ — $ — $ — $ — Undesignated contracts 1,721 300 1,200 650 550 27 Total notional amount $ 2,644 $ 300 $ 1,200 $ 650 $ 550 $ 27 (a) Duke Energy includes amounts related to consolidated VIEs of $693 million in cash flow hedges as of December 31, 2019 , and $422 million in cash flow hedges and $194 million in undesignated contracts as of December 31, 2018 . COMMODITY PRICE RISK The Duke Energy Registrants are exposed to the impact of changes in the prices of electricity purchased and sold in bulk power markets and coal and natural gas purchases, including Piedmont's natural gas supply contracts. Exposure to commodity price risk is influenced by a number of factors including the term of contracts, the liquidity of markets and delivery locations. For the Subsidiary Registrants, bulk power electricity and coal and natural gas purchases flow through fuel adjustment clauses, formula based contracts or other cost sharing mechanisms. Differences between the costs included in rates and the incurred costs, including undesignated derivative contracts, are largely deferred as regulatory assets or regulatory liabilities. Piedmont policies allow for the use of financial instruments to hedge commodity price risks. The strategy and objective of these hedging programs are to use the financial instruments to reduce gas cost volatility for customers. Volumes The tables below include 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 15,858 — — — — 1,887 13,971 — Natural gas (millions of Dth) 704 130 160 160 — — 3 411 December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 15,286 — — — — 1,786 13,500 — Natural gas (millions of Dth) 739 121 169 166 3 — 1 448 U.S. EQUITY SECURITIES RISK In May 2019, Duke Energy Florida entered into a Decommissioning Services Agreement for the accelerated decommissioning of Crystal River Unit 3 with ADP CR3, LLC and ADP SF1, LLC. See Note 4 for additional information on the accelerated decommissioning. Duke Energy Florida executed U.S. equity option collars within the NDTF in May 2019 to preserve the U.S. equity portfolio value in the Duke Energy Florida NDTF in the event the accelerated decommissioning is approved. These option collars were executed as a purchase of a put option and the sale of a call option on certain U.S. equity index funds. The put and call options create a collar to guarantee a minimum and maximum investment value for the Duke Energy Florida NDTF U.S. equity portfolio. The put and call options were entered into at zero-cost, with the price to purchase the puts offset entirely by the funds received to sell the calls. As of December 31, 2019 , the aggregate notional amount of both the put and call options was 305,000 units in U.S. equity security index funds. The options are not designated as hedging instruments. Substantially all of Duke Energy Florida’s NDTF qualifies for regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the options are deferred as regulatory liabilities or regulatory assets, respectively. 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 17 $ — $ — $ — $ — $ 3 $ 13 $ 1 Noncurrent 1 — — — — 1 — — Total Derivative Assets – Commodity Contracts $ 18 $ — $ — $ — $ — $ 4 $ 13 $ 1 Interest Rate Contracts Not Designated as Hedging Instruments Current 6 — 6 — 6 — — — Total Derivative Assets – Interest Rate Contracts $ 6 $ — $ 6 $ — $ 6 $ — $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 1 — 1 — 1 — — — Total Derivative Assets – Equity Securities Contracts $ 1 $ — $ 1 $ — $ 1 $ — $ — $ — Total Derivative Assets $ 25 $ — $ 7 $ — $ 7 $ 4 $ 13 $ 1 Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 67 $ 33 $ 26 $ 26 $ — $ — $ 1 $ 7 Noncurrent 156 10 37 22 — — — 110 Total Derivative Liabilities – Commodity Contracts $ 223 $ 43 $ 63 $ 48 $ — $ — $ 1 $ 117 Interest Rate Contracts Designated as Hedging Instruments Current $ 19 $ — $ — $ — $ — $ — $ — $ — Noncurrent 21 — — — — — — — Not Designated as Hedging Instruments Current 8 6 1 1 — 1 — — Noncurrent 5 — — — — 5 — — Total Derivative Liabilities – Interest Rate Contracts $ 53 $ 6 $ 1 $ 1 $ — $ 6 $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 24 — 24 — 24 — — — Total Derivative Liabilities – Equity Security Contracts $ 24 $ — $ 24 $ — $ 24 $ — $ — $ — Total Derivative Liabilities $ 300 $ 49 $ 88 $ 49 $ 24 $ 6 $ 1 $ 117 Derivative Assets December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 35 $ 2 $ 2 $ 2 $ — $ 6 $ 23 $ 3 Noncurrent 4 1 2 2 — — — — Total Derivative Assets – Commodity Contracts $ 39 $ 3 $ 4 $ 4 $ — $ 6 $ 23 $ 3 Interest Rate Contracts Designated as Hedging Instruments Current $ 1 $ — $ — $ — $ — $ — $ — $ — Noncurrent 3 — — — — — — — Not Designated as Hedging Instruments Current 2 — — — — — — — Noncurrent 12 — — — — — — — Total Derivative Assets – Interest Rate Contracts $ 18 $ — $ — $ — $ — $ — $ — $ — Total Derivative Assets $ 57 $ 3 $ 4 $ 4 $ — $ 6 $ 23 $ 3 Derivative Liabilities December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 33 $ 14 $ 10 $ 5 $ 6 $ — $ — $ 8 Noncurrent 158 10 15 6 — — — 133 Total Derivative Liabilities – Commodity Contracts $ 191 $ 24 $ 25 $ 11 $ 6 $ — $ — $ 141 Interest Rate Contracts Designated as Hedging Instruments Current $ 12 $ — $ — $ — $ — $ — $ — $ — Noncurrent 6 — — — — — — — Not Designated as Hedging Instruments Current 23 9 13 11 2 1 — — Noncurrent 10 — 6 5 1 4 — — Total Derivative Liabilities – Interest Rate Contracts $ 51 $ 9 $ 19 $ 16 $ 3 $ 5 $ — $ — Total Derivative Liabilities $ 242 $ 33 $ 44 $ 27 $ 9 $ 5 $ — $ 141 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 24 $ — $ 7 $ — $ 7 $ 3 $ 13 $ 1 Gross amounts offset (1 ) — (1 ) — (1 ) — — — Net amounts presented in Current Assets: Other $ 23 $ — $ 6 $ — $ 6 $ 3 $ 13 $ 1 Noncurrent Gross amounts recognized $ 1 $ — $ — $ — $ — $ 1 $ — $ — Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Assets: Other $ 1 $ — $ — $ — $ — $ 1 $ — $ — Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 118 $ 39 $ 51 $ 27 $ 24 $ 1 $ 1 $ 7 Gross amounts offset (24 ) — (24 ) — (24 ) — — — Net amounts presented in Current Liabilities: Other $ 94 $ 39 $ 27 $ 27 $ — $ 1 $ 1 $ 7 Noncurrent Gross amounts recognized $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 Derivative Assets December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 38 $ 2 $ 2 $ 2 $ — $ 6 $ 23 $ 3 Gross amounts offset (3 ) (2 ) (2 ) (2 ) — — — — Net amounts presented in Current Assets: Other $ 35 $ — $ — $ — $ — $ 6 $ 23 $ 3 Noncurrent Gross amounts recognized $ 19 $ 1 $ 2 $ 2 $ — $ — $ — $ — Gross amounts offset (3 ) (1 ) (2 ) (2 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 16 $ — $ — $ — $ — $ — $ — $ — Derivative Liabilities December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 68 $ 23 $ 23 $ 16 $ 8 $ 1 $ — $ 8 Gross amounts offset (4 ) (2 ) (2 ) (2 ) — — — — Net amounts presented in Current Liabilities: Other $ 64 $ 21 $ 21 $ 14 $ 8 $ 1 $ — $ 8 Noncurrent Gross amounts recognized $ 174 $ 10 $ 21 $ 11 $ 1 $ 4 $ — $ 133 Gross amounts offset (3 ) (1 ) (2 ) (2 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 171 $ 9 $ 19 $ 9 $ 1 $ 4 $ — $ 133 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. December 31, 2019 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 79 $ 35 $ 44 $ 44 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 79 35 44 44 December 31, 2018 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 44 $ 19 $ 25 $ 25 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 44 19 25 25 The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative and cash collateral must be executed with the same counterparty under the same master netting arrangement. |
Investments in Debt and Equity
Investments in Debt and Equity Securities | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Equity Securities | INVESTMENTS IN DEBT AND EQUITY SECURITIES Duke Energy's investments in debt and equity securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) the grantor trusts at Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans and (iii) Bison. The Duke Energy Registrants classify investments in debt securities as AFS and investments in equity securities as FV-NI. For investments in debt securities classified as AFS, the unrealized gains and losses are included in other comprehensive income until realized, at which time, they are reported though net income. For investments in equity securities classified as FV-NI, both realized and unrealized gains and losses are reported through net income. Substantially all of Duke Energy's investments in debt and equity securities qualify for regulatory accounting, and accordingly, all associated realized and unrealized gains and losses on these investments are deferred as a regulatory asset or liability. Duke Energy classifies the majority of investments in debt and equity securities as long term, unless otherwise noted. Investment Trusts The investments within the 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 securities within the Investment Trusts are considered OTTIs and are recognized immediately and deferred to regulatory accounts where appropriate. Other AFS Securities Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment is other-than-temporarily impaired. 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. If an OTTI exists, the unrealized credit loss is included in earnings. There were no material credit losses as of December 31, 2019 , and 2018 . Other Investments amounts are recorded in Other within Other Noncurrent Assets on the Consolidated Balance Sheets. DUKE ENERGY The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 101 $ — $ — $ 88 Equity securities 3,523 55 5,661 2,402 95 4,475 Corporate debt securities 37 1 603 4 13 566 Municipal bonds 13 — 368 1 4 353 U.S. government bonds 33 1 1,256 14 12 1,076 Other debt securities 3 — 141 — 2 148 Total NDTF Investments $ 3,609 $ 57 $ 8,130 $ 2,421 $ 126 $ 6,706 Other Investments Cash and cash equivalents $ — $ — $ 52 $ — $ — $ 22 Equity securities 57 — 122 36 1 99 Corporate debt securities 3 — 67 — 2 60 Municipal bonds 4 — 94 — 1 85 U.S. government bonds 2 — 41 1 — 45 Other debt securities — — 56 — 1 58 Total Other Investments $ 66 $ — $ 432 $ 37 $ 5 $ 369 Total Investments $ 3,675 $ 57 $ 8,562 $ 2,458 $ 131 $ 7,075 The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 372 Due after one through five years 550 Due after five through 10 years 452 Due after 10 years 1,252 Total $ 2,626 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 172 $ 168 Realized losses 151 126 AFS: Realized gains 94 22 Realized losses 67 51 Year Ended December 31, (in millions) 2017 Realized gains $ 202 Realized losses 160 DUKE ENERGY CAROLINAS The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 21 $ — $ — $ 29 Equity securities 1,914 8 3,154 1,309 54 2,484 Corporate debt securities 21 1 361 2 9 341 Municipal bonds 3 — 96 — 1 81 U.S. government bonds 16 1 578 5 8 475 Other debt securities 3 — 137 — 2 143 Total NDTF Investments $ 1,957 $ 10 $ 4,347 $ 1,316 $ 74 $ 3,553 The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 51 Due after one through five years 253 Due after five through 10 years 181 Due after 10 years 687 Total $ 1,172 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 113 $ 89 Realized losses 107 73 AFS: Realized gains 55 19 Realized losses 38 35 Year Ended December 31, (in millions) 2017 Realized gains $ 135 Realized losses 103 PROGRESS ENERGY The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 80 $ — $ — $ 59 Equity securities 1,609 47 2,507 1,093 41 1,991 Corporate debt securities 16 — 242 2 4 225 Municipal bonds 10 — 272 1 3 272 U.S. government bonds 17 — 678 9 4 601 Other debt securities — — 4 — — 5 Total NDTF Investments $ 1,652 $ 47 $ 3,783 $ 1,105 $ 52 $ 3,153 Other Investments Cash and cash equivalents $ — $ — $ 49 $ — $ — $ 17 Municipal bonds 3 — 51 — — 47 Total Other Investments $ 3 $ — $ 100 $ — $ — $ 64 Total Investments $ 1,655 $ 47 $ 3,883 $ 1,105 $ 52 $ 3,217 The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 311 Due after one through five years 256 Due after five through 10 years 211 Due after 10 years 469 Total $ 1,247 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 59 $ 79 Realized losses 44 53 AFS: Realized gains 36 3 Realized losses 29 15 Year Ended December 31, (in millions) 2017 Realized gains $ 65 Realized losses 56 DUKE ENERGY PROGRESS The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 53 $ — $ — $ 46 Equity securities 1,258 21 2,077 833 30 1,588 Corporate debt securities 16 — 242 2 3 171 Municipal bonds 10 — 272 1 3 271 U.S. government bonds 16 — 403 6 3 415 Other debt securities — — 4 — — 3 Total NDTF Investments $ 1,300 $ 21 $ 3,051 $ 842 $ 39 $ 2,494 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 6 Total Other Investments $ — $ — $ 2 $ — $ — $ 6 Total Investments $ 1,300 $ 21 $ 3,053 $ 842 $ 39 $ 2,500 The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 34 Due after one through five years 247 Due after five through 10 years 204 Due after 10 years 436 Total $ 921 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 38 $ 68 Realized losses 33 48 AFS: Realized gains 7 2 Realized losses 5 10 Year Ended December 31, (in millions) 2017 Realized gains $ 54 Realized losses 48 DUKE ENERGY FLORIDA The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 27 $ — $ — $ 13 Equity securities 351 26 430 260 11 403 Corporate debt securities — — — — 1 54 Municipal bonds — — — — — 1 U.S. government bonds 1 — 275 3 1 186 Other debt securities — — — — — 2 Total NDTF Investments (a) $ 352 $ 26 $ 732 $ 263 $ 13 $ 659 Other Investments Cash and cash equivalents $ — $ — $ 4 $ — $ — $ 1 Municipal bonds 3 — 51 — — 47 Total Other Investments $ 3 $ — $ 55 $ — $ — $ 48 Total Investments $ 355 $ 26 $ 787 $ 263 $ 13 $ 707 (a) During the year ended December 31, 2019 , Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of the Crystal River Unit 3. The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 277 Due after one through five years 9 Due after five through 10 years 7 Due after 10 years 33 Total $ 326 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 21 $ 11 Realized losses 11 5 AFS: Realized gains 29 1 Realized losses 24 5 Year Ended December 31, (in millions) 2017 Realized gains $ 11 Realized losses 8 DUKE ENERGY INDIANA The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value Investments Equity securities $ 43 $ — $ 81 $ 29 $ — $ 67 Corporate debt securities — — 6 — — 8 Municipal bonds 1 — 36 — 1 33 U.S. government bonds — — 2 — — — Total Investments $ 44 $ — $ 125 $ 29 $ 1 $ 108 The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 4 Due after one through five years 16 Due after five through 10 years 7 Due after 10 years 17 Total $ 44 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the year ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were insignificant. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
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 as defined by GAAP. Certain investments are not categorized within the fair value hierarchy. These investments are measured at fair value using the NAV per share practical expedient. The net asset value is derived based on the investment cost, less any impairment, plus or minus changes resulting from observable price changes for an identical or similar investment of the same issuer. 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. 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 the NYSE and Nasdaq Stock Market. 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. 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 natural 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 natural 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 that 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. Other fair value considerations See Note 12 for a discussion of the valuation of goodwill and intangible 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 tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15 . See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants. December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 5,684 $ 5,633 $ — $ — $ 51 NDTF debt securities 2,469 826 1,643 — — Other equity securities 122 122 — — — Other debt securities 310 91 219 — — Derivative assets 25 3 7 15 — Total assets 8,610 6,675 1,869 15 51 NDTF equity security contracts (23 ) — (23 ) — — Derivative liabilities (277 ) (15 ) (145 ) (117 ) — Net assets (liabilities) $ 8,310 $ 6,660 $ 1,701 $ (102 ) $ 51 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 4,475 $ 4,410 $ — $ — $ 65 NDTF debt securities 2,231 576 1,655 — — Other equity securities 99 99 — — — Other debt securities 270 67 203 — — Derivative assets 57 4 25 28 — Total assets 7,132 5,156 1,883 28 65 Derivative liabilities (242 ) (11 ) (90 ) (141 ) — Net assets (liabilities) $ 6,890 $ 5,145 $ 1,793 $ (113 ) $ 65 The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. December 31, 2019 December 31, 2018 (in millions) Derivatives (net) Derivatives (net) Balance at beginning of period $ (113 ) $ (114 ) Purchases, sales, issuances and settlements: Purchases 37 57 Settlements (44 ) (57 ) Total gains included on the Consolidated Balance Sheet 18 1 Balance at end of period $ (102 ) $ (113 ) 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. December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 3,154 $ 3,103 $ — $ 51 NDTF debt securities 1,193 227 966 — Total assets 4,347 3,330 966 51 Derivative liabilities (49 ) — (49 ) — Net assets $ 4,298 $ 3,330 $ 917 $ 51 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 2,484 $ 2,419 $ — $ 65 NDTF debt securities 1,069 149 920 — Derivative assets 3 — 3 — Total assets 3,556 2,568 923 65 Derivative liabilities (33 ) — (33 ) — Net assets $ 3,523 $ 2,568 $ 890 $ 65 PROGRESS ENERGY The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 2,530 $ 2,530 $ — $ 1,991 $ 1,991 $ — NDTF debt securities 1,276 599 677 1,162 427 735 Other debt securities 100 49 51 64 17 47 Derivative assets 7 — 7 4 — 4 Total assets 3,913 3,178 735 3,221 2,435 786 NDTF equity security contracts (23 ) — (23 ) — — — Derivative liabilities (65 ) — (65 ) (44 ) — (44 ) Net assets $ 3,825 $ 3,178 $ 647 $ 3,177 $ 2,435 $ 742 DUKE ENERGY PROGRESS The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 2,077 $ 2,077 $ — $ 1,588 $ 1,588 $ — NDTF debt securities 974 297 677 906 294 612 Other debt securities 2 2 — 6 6 — Derivative assets — — — 4 — 4 Total assets 3,053 2,376 677 2,504 1,888 616 Derivative liabilities (49 ) — (49 ) (27 ) — (27 ) Net assets $ 3,004 $ 2,376 $ 628 $ 2,477 $ 1,888 $ 589 DUKE ENERGY FLORIDA The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 453 $ 453 $ — $ 403 $ 403 $ — NDTF debt securities 302 302 — 256 133 123 Other debt securities 55 4 51 48 1 47 Derivative assets 7 — 7 — — — Total assets 817 759 58 707 537 170 NDTF equity security contracts (23 ) — (23 ) — — — Derivative liabilities (1 ) — (1 ) (9 ) — (9 ) Net assets $ 793 $ 759 $ 34 $ 698 $ 537 $ 161 DUKE ENERGY OHIO The recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets were not material at December 31, 2019 , and 2018 . DUKE ENERGY INDIANA The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Other equity securities $ 81 $ 81 $ — $ — $ 67 $ 67 $ — $ — Other debt securities 44 — 44 — 41 — 41 — Derivative assets 13 2 — 11 23 1 — 22 Total assets 138 83 44 11 131 68 41 22 Derivative liabilities (1 ) (1 ) — — — — — — Total assets $ 137 $ 82 $ 44 $ 11 $ 131 $ 68 $ 41 $ 22 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) 2019 2018 Balance at beginning of period $ 22 $ 27 Purchases, sales, issuances and settlements: Purchases 28 50 Settlements (36 ) (53 ) Total losses included on the Consolidated Balance Sheet (3 ) (2 ) Balance at end of period $ 11 $ 22 PIEDMONT The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 3 Total Fair Value Level 1 Level 3 Derivative assets $ 1 $ 1 $ — $ 3 $ 3 $ — Derivative liabilities (117 ) — (117 ) (141 ) — (141 ) Net (liabilities) assets $ (116 ) $ 1 $ (117 ) $ (138 ) $ 3 $ (141 ) 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) 2019 2018 Balance at beginning of period $ (141 ) $ (142 ) Total gains and settlements 24 1 Balance at end of period $ (117 ) $ (141 ) QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. December 31, 2019 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Ohio FTRs $ 4 RTO auction pricing FTR price – per MWh $ 0.59 – $ 3.47 $ 2.07 Duke Energy Indiana FTRs 11 RTO auction pricing FTR price – per MWh (0.66 ) – 9.24 1.15 Piedmont Natural gas contracts (117 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.59 – 2.46 1.91 Duke Energy Total Level 3 derivatives $ (102 ) December 31, 2018 Fair Value Investment Type (in millions) Valuation Technique Unobservable Input Range Duke Energy Ohio FTRs $ 6 RTO auction pricing FTR price – per MWh $ 1.19 – $ 4.59 Duke Energy Indiana FTRs 22 RTO auction pricing FTR price – per MWh (2.07 ) – 8.27 Piedmont Natural gas contracts (141 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.87 – 2.95 Duke Energy Total Level 3 derivatives $ (113 ) 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, 2019 December 31, 2018 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy (a) $ 58,126 $ 63,062 $ 54,529 $ 54,534 Duke Energy Carolinas 11,900 13,516 10,939 11,471 Progress Energy 19,634 22,291 18,911 19,885 Duke Energy Progress 9,058 9,934 8,204 8,300 Duke Energy Florida 7,987 9,131 7,321 7,742 Duke Energy Ohio 2,619 2,964 2,165 2,239 Duke Energy Indiana 4,057 4,800 3,782 4,158 Piedmont 2,384 2,642 2,138 2,180 (a) Book value of long-term debt includes $1.5 billion as of December 31, 2019 , and $1.6 billion as of December 31, 2018 , of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt. At both December 31, 2019 , and December 31, 2018 , fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper, and nonrecourse notes payable of VIEs 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, 2019 | |
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 activities of the VIE that most significantly impact its economic performance and (ii) what party has rights to receive benefits or is obligated to absorb losses that could potentially be significant to the VIE. The analysis of the party that consolidates a VIE is a continual reassessment. CONSOLIDATED VIEs The obligations of the consolidated VIEs discussed in the following paragraphs are nonrecourse to the Duke Energy Registrants. The registrants have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs. No financial support was provided to any of the consolidated VIEs during the years ended December 31, 2019 , 2018 , and 2017 , or is expected to be provided in the future, that was not previously contractually required. Receivables Financing – DERF/DEPR/DEFR DERF, DEPR and DEFR are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively. DERF, DEPR and DEFR are wholly owned LLCs with separate legal existence from their parent companies, and their assets are not generally available to creditors of their parent companies. On a revolving basis, DERF, DEPR and DEFR buy certain accounts receivable arising from the sale of electricity and related services from their parent companies. DERF, DEPR and DEFR borrow amounts under credit facilities to buy these receivables. Borrowing availability from the credit facilities is limited to the amount of qualified receivables purchased. The sole source of funds to satisfy the related debt obligations is cash collections from the receivables. Amounts borrowed under the credit facilities are reflected on the Consolidated Balance Sheets as Long-Term Debt. 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 are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions. Receivables Financing – CRC CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. 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. Amounts borrowed under the credit facility are 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 approximately 75% cash and 25% 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 . CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity is not held by the equity holder and (iii) deficiencies in net worth of CRC are funded by Duke Energy. The most significant activities that impact the economic performance of CRC are decisions made to manage delinquent receivables. Duke Energy is considered the primary beneficiary and consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC. Receivables Financing – Credit Facilities The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above. Duke Energy Duke Energy Duke Energy Duke Energy Carolinas Progress Florida (in millions) CRC DERF DEPR DEFR Expiration date February 2023 December 2022 February 2021 April 2021 Credit facility amount $ 350 $ 475 $ 325 $ 250 Amounts borrowed at December 31, 2019 350 474 325 250 Amounts borrowed at December 31, 2018 325 450 300 225 Restricted Receivables at December 31, 2019 522 642 489 336 Restricted Receivables at December 31, 2018 564 699 547 357 Nuclear Asset-Recovery Bonds – Duke Energy Florida Project Finance, LLC (DEFPF) DEFPF is a bankruptcy remote, wholly owned special purpose subsidiary of Duke Energy Florida. DEFPF was formed in 2016 for the sole purpose of issuing nuclear asset-recovery bonds to finance Duke Energy Florida's unrecovered regulatory asset related to Crystal River Unit 3. In 2016, DEFPF issued senior secured bonds and used the proceeds to acquire nuclear asset-recovery property from Duke Energy Florida. The nuclear asset-recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable nuclear asset-recovery charge from all Duke Energy Florida retail customers until the bonds are paid in full and all financing costs have been recovered. The nuclear asset-recovery bonds are secured by the nuclear asset-recovery property and cash collections from the nuclear asset-recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Florida. DEFPF is considered a VIE primarily because the equity capitalization is insufficient to support its operations. Duke Energy Florida has the power to direct the significant activities of the VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates DEFPF. The following table summarizes the impact of DEFPF on Duke Energy Florida's Consolidated Balance Sheets. December 31, (in millions) 2019 2018 Receivables of VIEs $ 5 $ 5 Regulatory Assets: Current 52 52 Current Assets: Other 39 39 Other Noncurrent Assets: Regulatory assets 989 1,041 Current Liabilities: Other 10 10 Current maturities of long-term debt 54 53 Long-Term Debt 1,057 1,111 Commercial Renewables Certain 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. Assets are restricted and cannot be pledged as collateral or sold to third parties without prior approval of debt holders. Additionally, Duke Energy has VIEs associated with tax equity arrangements entered into with third-party investors in order to finance the cost of renewable assets eligible for tax credits. The activities that most significantly impacted the economic performance of these renewable energy facilities were decisions associated with siting, negotiating PPAs and EPC agreements, and decisions associated with ongoing operations and maintenance-related activities. Duke Energy is considered the primary beneficiary and consolidates the entities as it is responsible for all of these decisions. The table below presents material balances reported on Duke Energy's Consolidated Balance Sheets related to Commercial Renewables VIEs. December 31, (in millions) 2019 2018 Current Assets: Other $ 203 $ 123 Property, Plant and Equipment: Cost 5,747 4,007 Accumulated depreciation and amortization (1,041 ) (698 ) Other Noncurrent Assets: Other 106 261 Current maturities of long-term debt 162 174 Long-Term Debt 1,541 1,587 Other Noncurrent Liabilities: AROs 127 106 Other Noncurrent Liabilities: Other 228 212 NON-CONSOLIDATED VIEs The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets. December 31, 2019 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs (a) Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 64 $ 77 Investments in equity method unconsolidated affiliates 1,179 300 — 1,479 — — Total assets $ 1,179 $ 299 $ — $ 1,478 $ 64 $ 77 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 4 4 — — Deferred income taxes 59 — — 59 — — Other noncurrent liabilities — — 11 11 — — Total liabilities $ 58 $ — $ 15 $ 73 $ — $ — Net assets (liabilities) $ 1,121 $ 299 $ (15 ) $ 1,405 $ 64 $ 77 (a) Duke Energy holds a 50% equity interest in Pioneer. As of December 31, 2018, Pioneer was considered a VIE due to having insufficient equity to finance its own activities without subordinated financial support. In October 2019, Pioneer closed on a private placement debt offering that gave Pioneer sufficient equity to finance its own activities and, therefore, is no longer considered a VIE. Duke Energy's investment in Pioneer was $57 million at December 31, 2019. December 31, 2018 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ — $ — $ — $ 93 $ 118 Investments in equity method unconsolidated affiliates 822 190 48 1,060 — — Total assets $ 822 $ 190 $ 48 $ 1,060 $ 93 $ 118 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 4 4 — — Deferred income taxes 21 — — 21 — — Other noncurrent liabilities — — 12 12 — — Total liabilities $ 20 $ — $ 16 $ 36 $ — $ — Net assets $ 802 $ 190 $ 32 $ 1,024 $ 93 $ 118 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 PPA with OVEC, which is discussed below, and various guarantees, including Duke Energy's guarantee agreement to support its share of the ACP revolving credit facility. Duke Energy's maximum exposure to loss under the terms of the guarantee is $827 million , which represents 47% of the outstanding borrowings under the credit facility as of December 31, 2019 . For more information on various guarantees, refer to Note 8 . Pipeline Investments Duke Energy has investments in various joint ventures with pipeline projects currently under construction. These entities are considered VIEs due to having insufficient equity to finance their own activities without subordinated financial support. Duke Energy does not have the power to direct the activities that most significantly impact the economic performance, the obligation to absorb losses or the right to receive benefits of these VIEs and therefore does not consolidate these entities. The table below presents Duke Energy's ownership interest and investment balances in these joint ventures. VIE Investment Amount (in millions) Ownership December 31, December 31, Entity Name Interest 2019 2018 ACP (a) 47 % $ 1,179 $ 797 Constitution (b) 24 % — 25 Total $ 1,179 $ 822 (a) Duke Energy evaluated this investment for impairment as of December 31, 2019, and 2018, and determined that fair value approximated carrying value and therefore no impairment was necessary. (b) During the years ended December 31, 2019, and 2018, Duke Energy recorded an OTTI of $25 million and $55 million , respectively, related to Constitution within Equity in earnings of unconsolidated affiliates on Duke Energy's Consolidated Statements of Income. The current year charge resulted in the full write-down of Duke Energy's investment in Constitution. See Notes 4 and 13 for additional information. Commercial Renewables Duke Energy has investments in various renewable energy project entities. Some of these entities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. Duke Energy does not consolidate these VIEs because power to direct and control key activities is shared jointly by Duke Energy and other owners. In 2019, Duke Energy acquired a majority ownership in a portfolio of distributed fuel cell projects from Bloom Energy Corporation. Duke Energy is not the primary beneficiary of the assets within the portfolio and does not consolidate the assets in the portfolio. OVEC Duke Energy Ohio’s 9% ownership interest in OVEC is considered a non-consolidated VIE due to OVEC having insufficient equity to finance its activities without subordinated financial support. The activities that most significantly impact OVEC's economic performance include fuel strategy and supply activities and decisions associated with ongoing operations and maintenance-related activities. Duke Energy Ohio does not have the unilateral power to direct these activities, and therefore, does not consolidate OVEC. As a counterparty to an Inter-Company Power Agreement (ICPA), Duke Energy Ohio has a contractual arrangement to receive entitlements to capacity and energy from OVEC’s power plants through June 2040 commensurate with its power participation ratio, which is equivalent to Duke Energy Ohio's ownership interest. Costs, including fuel, operating expenses, fixed costs, debt amortization and interest expense, are allocated to counterparties to the ICPA based on their power participation ratio. The value of the ICPA is subject to variability due to fluctuation in power prices and changes in OVEC's cost of business. On March 31, 2018, FES, a subsidiary of FirstEnergy Corp. and an ICPA counterparty with a power participation ratio of 4.85% , filed for Chapter 11 bankruptcy, which could increase costs allocated to the counterparties. On July 31, 2018, the bankruptcy court rejected the FES ICPA, which means OVEC is an unsecured creditor in the FES bankruptcy proceeding. Duke Energy Ohio cannot predict the impact of the bankruptcy filing on its OVEC interests. In addition, certain proposed environmental rulemaking could result in future increased OVEC cost allocations. See Note 4 for additional information. CRC See discussion under Consolidated VIEs for additional information related to CRC. Amounts included in Receivables from affiliated companies 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% and a 20% 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 OTTI has occurred. Key assumptions used in estimating fair value are detailed in the following table. Duke Energy Ohio Duke Energy Indiana 2019 2018 2019 2018 Anticipated credit loss ratio 0.6 % 0.5 % 0.3 % 0.3 % Discount rate 3.3 % 3.0 % 3.3 % 3.0 % Receivable turnover rate 13.4 % 13.5 % 11.5 % 11.0 % The following table shows the gross and net receivables sold. Duke Energy Ohio Duke Energy Indiana December 31, December 31, (in millions) 2019 2018 2019 2018 Receivables sold $ 253 $ 269 $ 307 $ 336 Less: Retained interests 64 93 77 118 Net receivables sold $ 189 $ 176 $ 230 $ 218 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) 2019 2018 2017 2019 2018 2017 Sales Receivables sold $ 1,979 $ 1,987 $ 1,879 $ 2,837 $ 2,842 $ 2,711 Loss recognized on sale 14 13 10 17 16 12 Cash flows Cash proceeds from receivables sold 1,993 1,967 1,865 2,860 2,815 2,694 Collection fees received 1 1 1 1 1 1 Return received on retained interests 6 6 3 9 9 7 Cash flows from 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% . |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | REVENUE Duke Energy recognizes revenue consistent with amounts billed under tariff offerings or at contractually agreed upon rates based on actual physical delivery of electric or natural gas service, including estimated volumes delivered when billings have not yet occurred. As such, the majority of Duke Energy’s revenues have fixed pricing based on the contractual terms of the published tariffs, with variability in expected cash flows attributable to the customer’s volumetric demand and ultimate quantities of energy or natural gas supplied and used during the billing period. The stand-alone selling price of related sales are designed to support recovery of prudently incurred costs and an appropriate return on invested assets and are primarily governed by published tariff rates or contractual agreements approved by relevant regulatory bodies. As described in Note 1 , certain excise taxes and franchise fees 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 as part of revenues. Duke Energy elects to account for all other taxes net of revenues. Performance obligations are satisfied over time as energy or natural gas is delivered and consumed with billings generally occurring monthly and related payments due within 30 days, depending on regulatory requirements. In no event does the timing between payment and delivery of the goods and services exceed one year. Using this output method for revenue recognition provides a faithful depiction of the transfer of electric and natural gas service as customers obtain control of the commodity and benefit from its use at delivery. Additionally, Duke Energy has an enforceable right to consideration for energy or natural gas delivered at any discrete point in time and will recognize revenue at an amount that reflects the consideration to which Duke Energy is entitled for the energy or natural gas delivered. As described above, the majority of Duke Energy’s tariff revenues are at-will and, as such, related contracts with customers have an expected duration of one year or less and will not have future performance obligations for disclosure. Additionally, other long-term revenue streams, including wholesale contracts, generally provide services that are part of a single performance obligation, the delivery of electricity or natural gas. As such, other than material fixed consideration under long-term contracts, related disclosures for future performance obligations are also not applicable. Duke Energy earns substantially all of its revenues through its reportable segments, Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. Electric Utilities and Infrastructure Electric Utilities and Infrastructure earns the majority of its revenues through retail and wholesale electric service through the generation, transmission, distribution and sale of electricity. Duke Energy generally provides retail and wholesale electric service customers with their full electric load requirements or with supplemental load requirements when the customer has other sources of electricity. Retail electric service is generally marketed throughout Duke Energy's electric service territory through standard service offers. The standard service offers are through tariffs determined by regulators in Duke Energy's regulated service territory. Each tariff, which is assigned to customers based on customer class, has multiple components such as an energy charge, a demand charge, a basic facilities charge and applicable riders. Duke Energy considers each of these components to be aggregated into a single performance obligation for providing electric service, or in the case of distribution only customers in Duke Energy Ohio, for delivering electricity. Electricity is considered a single performance obligation satisfied over time consistent with the series guidance and is provided and consumed over the billing period, generally one month. Retail electric service is typically provided to at-will customers who can cancel service at any time, without a substantive penalty. Additionally, Duke Energy adheres to applicable regulatory requirements in each jurisdiction to ensure the collectability of amounts billed and appropriate mitigating procedures are followed when necessary. As such, revenue from contracts with customers for such contracts is equivalent to the electricity supplied and billed in that period (including unbilled estimates). Wholesale electric service is generally provided under long-term contracts using cost-based pricing. FERC regulates costs that may be recovered from customers and the amount of return companies are permitted to earn. Wholesale contracts include both energy and demand charges. For full requirements contracts, Duke Energy considers both charges as a single performance obligation for providing integrated electric service. For contracts where energy and demand charges are considered separate performance obligations, energy and demand are each a distinct performance obligation under the series guidance and are satisfied as energy is delivered and stand-ready service is provided on a monthly basis. This service represents consumption over the billing period and revenue is recognized consistent with billings and unbilled estimates, which generally occur monthly. Contractual amounts owed are typically trued up annually based upon incurred costs in accordance with FERC published filings and the specific customer’s actual peak demand. Estimates of variable consideration related to potential additional billings or refunds owed are updated quarterly. The majority of wholesale revenues are full requirements contracts where the customers purchase the substantial majority of their energy needs and do not have a fixed quantity of contractually required energy or capacity. As such, related forecasted revenues are considered optional purchases. Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations: Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Progress Energy $ 121 $ 92 $ 87 $ 44 $ 45 $ 58 $ 447 Duke Energy Progress 8 8 8 8 8 — 40 Duke Energy Florida 113 84 79 36 37 58 407 Duke Energy Indiana 10 5 — — — — 15 Revenues for block sales are recognized monthly as energy is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Gas Utilities and Infrastructure Gas Utilities and Infrastructure earns its revenue through retail and wholesale natural gas service through the transportation, distribution and sale of natural gas. Duke Energy generally provides retail and wholesale natural gas service customers with all natural gas load requirements. Additionally, while natural gas can be stored, substantially all natural gas provided by Duke Energy is consumed by customers simultaneously with receipt of delivery. Retail natural gas service is marketed throughout Duke Energy's natural gas service territory using published tariff rates. The tariff rates are established by regulators in Duke Energy's service territories. Each tariff, which is assigned to customers based on customer class, have multiple components, such as a commodity charge, demand charge, customer or monthly charge and transportation costs. Duke Energy considers each of these components to be aggregated into a single performance obligation for providing natural gas service. For contracts where Duke Energy provides all of the customer’s natural gas needs, the delivery of natural gas is considered a single performance obligation satisfied over time, and revenue is recognized monthly based on billings and unbilled estimates as service is provided and the commodity is consumed over the billing period. Additionally, natural gas service is typically at-will and customers can cancel service at any time, without a substantive penalty. Duke Energy also adheres to applicable regulatory requirements to ensure the collectability of amounts billed and receivable and appropriate mitigating procedures are followed when necessary. Certain long-term individually negotiated contracts exist to provide natural gas service. These contracts are regulated and approved by state commissions. The negotiated contracts have multiple components, including a natural gas and a demand charge, similar to retail natural gas contracts. Duke Energy considers each of these components to be a single performance obligation for providing natural gas service. This service represents consumption over the billing period, generally one month. Fixed capacity payments under long-term contracts for the Gas Utilities and Infrastructure segment include minimum margin contracts and supply arrangements with municipalities and power generation facilities. Revenues for related sales are recognized monthly as natural gas is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Estimated remaining performance obligations are as follows: Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Piedmont $ 69 $ 64 $ 64 $ 61 $ 58 $ 372 $ 688 Commercial Renewables Commercial Renewables earns the majority of its revenues through long-term PPAs and generally sells all of its wind and solar facility output, electricity and RECs to customers. The majority of these PPAs have historically been accounted for as leases. For PPAs that are not accounted for as leases, the delivery of electricity and the delivery of RECs are considered separate performance obligations. The delivery of electricity is a performance obligation satisfied over time and represents generation and consumption of the electricity over the billing period, generally one month. The delivery of RECs is a performance obligation satisfied at a point in time and represents delivery of each REC generated by the wind or solar facility. The majority of self-generated RECs are bundled with energy in Duke Energy’s contracts and, as such, related revenues are recognized as energy is generated and delivered as that pattern is consistent with Duke Energy’s performance. Commercial Renewables recognizes revenue based on the energy generated and billed for the period, generally one month, at contractual rates (including unbilled estimates) according to the invoice practical expedient. Amounts are typically due within 30 days of invoice. Commercial Renewables also earns revenues from installation of distributed solar generation resources, which is primarily composed of EPC projects to deliver functioning solar power systems, generally completed within two to 12 months from commencement of construction. The installation of distributed solar generation resources is a performance obligation that is satisfied over time. Revenue from fixed-price EPC contracts is recognized using the input method as work is performed based on the estimated ratio of incurred costs to estimated total costs. Other The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers. Disaggregated Revenues For the Electric and Gas Utility and Infrastructure segments, revenue by customer class is most meaningful to Duke Energy as each respective customer class collectively represents unique customer expectations of service, generally has different energy and demand requirements, and operates under tailored, regulatory approved pricing structures. Additionally, each customer class is impacted differently by weather and a variety of economic factors including the level of population growth, economic investment, employment levels, and regulatory activities in each of Duke Energy’s jurisdictions. As such, analyzing revenues disaggregated by customer class allows Duke Energy to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. For the Commercial Renewables segment, the majority of revenues from contracts with customers are from selling all of the unit-contingent output at contractually defined pricing under long-term PPAs with consistent expectations regarding the timing and certainty of cash flows. Disaggregated revenues are presented as follows: Year Ended December 31, 2019 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 9,863 $ 3,044 $ 4,998 $ 2,144 $ 2,854 $ 733 $ 1,087 $ — General 6,431 2,244 2,935 1,368 1,567 451 802 — Industrial 3,071 1,215 934 675 259 147 774 — Wholesale 2,212 462 1,468 1,281 187 46 235 — Other revenues 770 276 548 317 231 80 89 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 22,347 $ 7,241 $ 10,883 $ 5,785 $ 5,098 $ 1,457 $ 2,987 $ — Gas Utilities and Infrastructure Residential $ 976 $ — $ — $ — $ — $ 315 $ — $ 661 Commercial 508 — — — — 130 — 378 Industrial 141 — — — — 19 — 122 Power Generation — — — — — — — 51 Other revenues 129 — — — — 19 — 110 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,754 $ — $ — $ — $ — $ 483 $ — $ 1,322 Commercial Renewables Revenue from contracts with customers $ 223 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 24 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 24,348 $ 7,241 $ 10,883 $ 5,785 $ 5,098 $ 1,940 $ 2,987 $ 1,322 Other revenue sources (a) $ 731 $ 154 $ 319 $ 172 $ 133 $ — $ 17 $ 59 Total revenues $ 25,079 $ 7,395 $ 11,202 $ 5,957 $ 5,231 $ 1,940 $ 3,004 $ 1,381 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. Year Ended December 31, 2018 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 9,587 $ 2,981 $ 4,785 $ 2,019 $ 2,766 $ 743 $ 1,076 $ — General 6,127 2,119 2,809 1,280 1,529 422 778 — Industrial 2,974 1,180 904 642 262 131 760 — Wholesale 2,324 508 1,462 1,303 159 57 298 — Other revenues 717 320 502 320 182 73 91 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 21,729 $ 7,108 $ 10,462 $ 5,564 $ 4,898 $ 1,426 $ 3,003 $ — Gas Utilities and Infrastructure Residential $ 1,000 $ — $ — $ — $ — $ 331 $ — $ 669 Commercial 514 — — — — 135 — 378 Industrial 147 — — — — 18 — 128 Power Generation — — — — — — — 54 Other revenues 139 — — — — 19 — 120 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,800 $ — $ — $ — $ — $ 503 $ — $ 1,349 Commercial Renewables Revenue from contracts with customers $ 209 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 19 $ — $ — $ — $ — $ 1 $ — $ — Total revenue from contracts with customers $ 23,757 $ 7,108 $ 10,462 $ 5,564 $ 4,898 $ 1,930 $ 3,003 $ 1,349 Other revenue sources (a) $ 764 $ 192 $ 266 $ 135 $ 123 $ 27 $ 56 $ 26 Total revenues $ 24,521 $ 7,300 $ 10,728 $ 5,699 $ 5,021 $ 1,957 $ 3,059 $ 1,375 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. IMPACT OF WEATHER AND THE TIMING OF BILLING PERIODS Revenues and costs are influenced by seasonal weather patterns. Peak sales of electricity occur during the summer and winter months, which results in higher revenue and cash flows during these periods. By contrast, lower sales of electricity occur during the spring and fall, allowing for scheduled plant maintenance. Residential and general service customers are more impacted by weather than industrial customers. Estimated weather impacts are based on actual current period weather compared to normal weather conditions. Normal weather conditions are defined as the long-term average of actual historical weather conditions. Heating degree days measure the variation in weather based on the extent the average daily temperature falls below a base temperature. Cooling degree days measure the variation in weather based on the extent the average daily temperature rises above the base temperature. Each degree of temperature below the base temperature counts as one heating degree day and each degree of temperature above the base temperature counts as one cooling degree day. The estimated impact of weather on earnings for Electric Utilities and Infrastructure is based on the temperature variances from a normal condition and customers' historic usage patterns. The methodology used to estimate the impact of weather does not consider all variables that may impact customer response to weather conditions, such as humidity in the summer or wind chill in the winter. The precision of this estimate may also be impacted by applying long-term weather trends to shorter-term periods. Gas Utilities and Infrastructure's costs and revenues are influenced by seasonal patterns due to peak natural gas sales occurring during the winter months as a result of space heating requirements. Residential customers are the most impacted by weather. There are certain regulatory mechanisms for the North Carolina, South Carolina, Tennessee, Ohio and Kentucky service territories that normalize the margins collected from certain customer classes during the winter. In North Carolina, rate design provides protection from both weather and other usage variations such as conservation, while South Carolina, Tennessee and Kentucky revenues are adjusted solely based on weather. Ohio primarily employs a fixed charge each month regardless of the season and usage. UNBILLED REVENUE Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas 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, and the impact of weather normalization or margin decoupling mechanisms. Unbilled revenues are included within Receivables and Receivables of VIEs on the Consolidated Balance Sheets as shown in the following table. December 31, (in millions) 2019 2018 Duke Energy $ 843 $ 896 Duke Energy Carolinas 298 313 Progress Energy 217 244 Duke Energy Progress 122 148 Duke Energy Florida 95 96 Duke Energy Ohio 1 2 Duke Energy Indiana 16 23 Piedmont 78 73 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, 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 18 for further information. These receivables for unbilled revenues are shown in the table below. December 31, (in millions) 2019 2018 Duke Energy Ohio $ 82 $ 86 Duke Energy Indiana 115 128 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Stockholders' Equity | STOCKHOLDERS' EQUITY Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the diluted weighted average number of common shares 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 and equity forward sale agreements, were exercised or settled. Duke Energy’s participating securities are RSUs that are entitled to dividends declared on Duke Energy common stock during the RSUs vesting periods. Dividends declared on preferred stock are recorded on the Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are a reduction to net income used in the calculation of basic and diluted EPS. The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared. Years Ended December 31, (in millions, except per share amounts) 2019 2018 2017 Income from continuing operations available to Duke Energy common stockholders excluding impact of participating securities and including accumulated preferred stock dividends $ 3,694 $ 2,642 $ 3,059 Weighted average common shares outstanding – basic and diluted 729 708 700 EPS from continuing operations available to Duke Energy common stockholders Basic and diluted $ 5.07 $ 3.73 $ 4.37 Potentially dilutive items excluded from the calculation (a) 2 2 2 Dividends declared per common share $ 3.75 $ 3.64 $ 3.49 Dividends declared on Series A preferred stock per depositary share $ 1.03 $ — $ — (a) Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met. Common Stock In February 2018, Duke Energy filed a prospectus supplement and executed an Equity Distribution Agreement (EDA) under which it may sell up to $1 billion of its common stock through an ATM offering program, including an equity forward sales component. Under the terms of the EDA, Duke Energy was allowed to issue and sell shares of common stock. The existing ATM offering program expired in September 2019. In June 2018, Duke Energy marketed two separate tranches, each for 1.3 million shares, of common stock through equity forward transactions under the ATM program. In December 2018, Duke Energy physically settled these equity forwards by delivering 2.6 million shares of common stock in exchange for net proceeds of approximately $195 million . In March 2018, Duke Energy marketed an equity offering of 21.3 million shares of common stock through an Underwriting Agreement. In connection with the offering, Duke Energy entered into equity forward sale agreements. The equity forwards required Duke Energy to either physically settle the transactions by issuing 21.3 million shares in exchange for net proceeds at the then-applicable forward sale price specified by the agreements, or net settle in whole or in part through the delivery or receipt of cash or shares. In June 2018, Duke Energy physically settled one-half of the equity forwards by delivering approximately 10.6 million shares of common stock in exchange for net cash proceeds of approximately $781 million . In December 2018, Duke Energy physically settled the remaining equity forward by delivering 10.6 million shares of common stock in exchange for net cash proceeds of approximately $766 million . In March and April 2019, Duke Energy marketed two separate tranches, each for 1.1 million shares, of common stock through equity forward transactions under the ATM program. The first tranche had an initial forward price of $89.83 per share and the second tranche had an initial forward price of $88.82 per share. In May and June 2019, a third tranche of 1.6 million shares of common stock was marketed and had an initial forward price of $86.23 . The equity forwards required Duke Energy to either physically settle the transaction by issuing shares in exchange for net proceeds at the then-applicable forward sale price specified by the agreements or net settle in whole or in part through the delivery or receipt of cash or shares. The settlement alternative was at Duke Energy's election. In December 2019, Duke Energy physically settled the equity forwards by delivering 3.8 million shares of common stock in exchange for net cash proceeds of approximately $331 million . In November 2019, Duke Energy filed a prospectus supplement and executed an EDA under which it may sell up to $1.5 billion of its common stock through a new ATM offering program, including an equity forward sales component. Under the terms of the EDA, Duke Energy may issue and sell shares of common stock through September 2022. In November 2019, Duke Energy marketed an equity offering of 28.75 million shares of common stock through an Underwriting Agreement. In connection with the offering, Duke Energy entered into equity forward sales agreements with an initial forward price of $85.99 per share. The equity forward sales agreements require Duke Energy to either physically settle the transaction by issuing shares in exchange for net proceeds at the then-applicable forward sale price specified by the agreement, or net settle in whole or in part through the delivery or receipt of cash or shares. The settlement alternatives are at Duke Energy's election. Settlement of the forward sales agreements are expected to occur on or prior to December 31, 2020. If Duke Energy had elected to net share settle these contracts as of December 31, 2019, Duke Energy would have been required to deliver 1.6 million shares. For the years ended December 31, 2019 , and 2018 , Duke Energy issued 1.8 million and 2.2 million shares, respectively, through its DRIP with an increase in additional paid-in capital of approximately $160 million and $174 million , respectively. Preferred Stock On March 29, 2019, Duke Energy completed the issuance of 40 million depositary shares, each representing 1/1,000th share of its Series A Cumulative Redeemable Perpetual Preferred Stock, at a price of $25 per depositary share. The transaction resulted in net proceeds of $973 million after issuance costs with proceeds used for general corporate purposes and to reduce short-term debt. The preferred stock has a $25 liquidation preference per depositary share and earns dividends on a cumulative basis at a rate of 5.75% per annum. Dividends are payable quarterly in arrears on the 16th day of March, June, September and December, and began on June 16, 2019. The Series A Preferred Stock has no maturity or mandatory redemption date, is not redeemable at the option of the holders and includes separate call options. The first call option allows Duke Energy to call the Series A Preferred Stock at a redemption price of $25.50 per depositary share prior to June 15, 2024, in whole but not in part, at any time within 120 days after a ratings event where a rating agency amends, clarifies or changes the criteria it uses to assign equity credit for securities such as the preferred stock. The second call option allows Duke Energy to call the preferred stock, in whole or in part, at any time, on or after June 15, 2024, at a redemption price of $25 per depositary share. Duke Energy is also required to redeem all accumulated and unpaid dividends if either call option is exercised. On September 12, 2019, Duke Energy completed the issuance of 1 million shares of its Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, at a price of $1,000 per share. The transaction resulted in net proceeds of $989 million after issuance costs with proceeds being used to pay down short-term debt, repay at maturity $500 million senior notes due September 2019, and for general corporate purposes. The preferred stock has a $1,000 liquidation preference per share and earns dividends on a cumulative basis at an initial rate of 4.875% per annum. Dividends are payable semiannually in arrears on the 16th day of March and September, beginning on March 16, 2020. On September 16, 2024, the First Call Date, and any fifth anniversary of the First Call Date (each a Reset Date), the dividend rate will reset based on the then current five-year U.S. treasury rate plus a spread of 3.388% . The Series B Preferred Stock has no maturity or mandatory redemption date, is not redeemable at the option of the holders and includes separate call options. The first call option allows Duke Energy to call the Series B Preferred Stock at a redemption price of $1,020 per share, in whole but not in part, at any time within 120 days after a ratings event. The second call option allows Duke Energy to call the preferred stock, in whole or in part, on the First Call Date or any subsequent Reset Date at a redemption price in cash equal to $1,000 per share. Duke Energy is also required to redeem all accumulated and unpaid dividends if either call option is exercised. Dividends issued on its Series A and Series B Preferred Stock are subject to approval by the Board of Directors. However, the deferral of dividend payments on the preferred stock prohibits the declaration of common stock dividends. The Series A and Series B Preferred Stock rank, with respect to dividends and distributions upon liquidation or dissolution: • senior to Common Stock and to each other class or series of capital stock established after the original issue date of the Series A and Series B Preferred Stock that is expressly made subordinated to the Series A and Series B Preferred Stock; • on a parity with any class or series of capital stock established after the original issue date of the Series A and Series B Preferred Stock that is not expressly made senior or subordinated to the Series A or Series B Preferred Stock; • junior to any class or series of capital stock established after the original issue date of the Series A and Series B Preferred Stock that is expressly made senior to the Series A or Series B Preferred Stock; • junior to all existing and future indebtedness (including indebtedness outstanding under Duke Energy's credit facilities, unsecured senior notes, junior subordinated debentures and commercial paper) and other liabilities with respect to assets available to satisfy claims against Duke Energy; and • structurally subordinated to existing and future indebtedness and other liabilities of Duke Energy's subsidiaries and future preferred stock of subsidiaries. Holders of Series A and Series B Preferred Stock have no voting rights with respect to matters that generally require the approval of voting stockholders. The limited voting rights of holders of Series A and Series B Preferred Stock include the right to vote as a single class, respectively, on certain matters that may affect the preference or special rights of the preferred stock, except in the instance that Duke Energy elects to defer the payment of dividends for a total of six quarterly full dividend periods for Series A Preferred Stock or three semiannual full dividend periods for Series B Preferred Stock. If dividends are deferred for a cumulative total of six quarterly full dividend periods for Series A Preferred Stock or three semiannual full dividend periods for Series B Preferred Stock, whether or not for consecutive dividend periods, holders of the respective preferred stock have the right to elect two additional Board members to the Board of Directors. |
Severance
Severance | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Severance | SEVERANCE During 2018, Duke Energy reviewed its operations and identified opportunities for improvement to better serve its customers. This operational review included the company's workforce strategy and staffing levels to ensure the company was staffed with the right skillsets and number of teammates to execute the long-term vision for Duke Energy. As such, Duke Energy extended voluntary and involuntary severance benefits to certain employees in specific areas as a part of workforce planning and digital transformation efforts. The following table presents the direct and allocated severance and related charges accrued for approximately 140 employees in 2019, 1,900 employees in 2018 and 100 employees in 2017 by the Duke Energy Registrants 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 Piedmont Year Ended December 31, 2019 $ 16 $ 8 $ 6 $ 3 $ 3 $ — $ 1 $ 1 Year Ended December 31, 2018 187 102 69 52 17 6 7 2 Year Ended December 31, 2017 15 2 2 1 1 — 1 9 The table below presents the severance liability for past and ongoing severance plans including the plans described above. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Balance at December 31, 2018 $ 205 $ 100 $ 51 $ 41 $ 9 $ 2 $ 2 $ — Provision/Adjustments 24 4 11 2 10 1 1 — Cash Reductions (188 ) (93 ) (49 ) (37 ) (12 ) (2 ) (1 ) — Balance at December 31, 2019 $ 41 $ 11 $ 13 $ 6 $ 7 $ 1 $ 2 $ — |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [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 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) 2019 2018 2017 Duke Energy $ 65 $ 56 $ 43 Duke Energy Carolinas 24 20 15 Progress Energy 24 21 16 Duke Energy Progress 15 13 10 Duke Energy Florida 9 8 6 Duke Energy Ohio 5 4 3 Duke Energy Indiana 6 5 4 Piedmont 3 3 3 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) 2019 2018 2017 RSU awards $ 44 $ 43 $ 41 Performance awards 45 35 27 Pretax stock-based compensation cost $ 89 $ 78 $ 68 Stock-based compensation costs capitalized 5 5 4 Stock-based compensation expense $ 84 $ 73 $ 64 Tax benefit associated with stock-based compensation expense $ 19 $ 17 $ 25 RESTRICTED STOCK UNIT AWARDS RSU 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 RSU awards. Years Ended December 31, 2019 2018 2017 Shares granted (in thousands) 571 649 583 Fair value (in millions) $ 51 $ 49 $ 47 The following table summarizes information about RSU awards outstanding. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2018 1,153 $ 77 Granted 571 89 Vested (631 ) 77 Forfeited (83 ) 82 Outstanding at December 31, 2019 1,010 83 RSU awards expected to vest 951 83 The total grant date fair value of shares vested during the years ended December 31, 2019 , 2018 and 2017 , was $49 million , $43 million and $42 million , respectively. At December 31, 2019 , Duke Energy had $30 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of 23 months . Prior to Duke Energy's acquisition of Piedmont, Piedmont had an incentive compensation plan that had a series of three-year performance and RSU awards for eligible officers and other participants. The 2016-2018 performance award cycle was approved subsequent to the Agreement and Plan of Merger between Duke Energy and Piedmont and was converted into a Duke Energy RSU award at the consummation of the acquisition. PERFORMANCE AWARDS Stock-based performance awards generally vest after three years if performance targets are met. The actual number of shares issued will range from zero to 200% of target shares, depending on the level of performance achieved. Performance awards contain performance conditions and a market condition. The performance conditions are based on Duke Energy's cumulative adjusted EPS and total incident case rate (total incident case rate is one of our key employee safety metrics). The market condition is based on TSR of Duke Energy relative to a predefined peer group. Relative TSR is 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 2019 , the model used a risk-free interest rate of 2.5% , which reflects the yield on three-year Treasury bonds as of the grant date, and an expected volatility of 14.8% 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, 2019 2018 2017 Shares granted assuming target performance (in thousands) 320 372 461 Fair value (in millions) $ 27 $ 27 $ 37 The following table summarizes information about stock-based performance awards outstanding and assumes payout at the target level. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2018 1,117 $ 77 Granted 320 86 Vested (310 ) 75 Forfeited (18 ) 81 Outstanding at December 31, 2019 1,109 80 Stock-based performance awards expected to vest 1,080 80 The total grant date fair value of shares vested during the years ended December 31, 2019 , and 2018 , was $23 million and $13 million , respectively. No performance awards vested during the year ended December 31, 2017. At December 31, 2019 , Duke Energy had $27 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of 22 months . |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS DEFINED BENEFIT RETIREMENT PLANS Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified, non-contributory defined benefit retirement plans. The Duke Energy plans cover most 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, age or age and years of service and interest credits. Certain employees are eligible for benefits that use a final average earnings formula. Under these final average earnings formulas, a plan participant accumulates a retirement benefit equal to the sum of percentages of their (i) highest three-year, four-year, or five-year average earnings, (ii) highest three-year, four-year, or five-year average earnings in excess of covered compensation per year of participation (maximum of 35 years ) 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 that cover certain executives. The qualified and non-qualified, non-contributory defined benefit plans are closed to new participants. Duke Energy approved plan amendments to restructure its qualified non-contributory defined benefit retirement plans, effective January 1, 2018. The restructuring involved (i) the spin-off of the majority of inactive participants from two plans into a separate inactive plan and (ii) the merger of the active participant portions of such plans, along with a pension plan acquired as part of the Piedmont transaction, into a single active plan. Benefits offered to the plan participants remain unchanged except that the Piedmont plan's final average earnings formula was frozen as of December 31, 2017, and affected participants were moved into the active plan's cash balance formula. Actuarial gains and losses associated with the Inactive Plan will be amortized over the remaining life expectancy of the inactive participants. The longer amortization period lowered Duke Energy's 2018 pretax qualified pension plan expense by approximately $33 million . Duke Energy uses a December 31 measurement date for its defined benefit retirement plan assets and obligations. As a result of the application of settlement accounting due to total lump-sum benefit payments exceeding the settlement threshold (defined as the sum of the service cost and interest cost on projected benefit obligation components of net periodic pension costs) for one of its qualified pension plans, Duke Energy recognized settlement charges of $94 million , primarily as a regulatory asset within Other Noncurrent Assets on the Consolidated Balance Sheets as of December 31, 2019 (an immaterial amount was recorded in Other income and expenses, net within the Consolidated Statement of Operations). Settlement charges recognized by the Subsidiary Registrants as of December 31, 2019, which represent amounts allocated by Duke Energy for employees of the Subsidiary Registrants and allocated charges for their proportionate share of settlement charges for employees of Duke Energy’s shared services affiliate, were $53 million for Duke Energy Carolinas, $26 million for Progress Energy, $20 million for Duke Energy Progress, $6 million for Duke Energy Florida, $4 million for Duke Energy Indiana, $2 million for Duke Energy Ohio and $8 million for Piedmont. The settlement charges reflect the recognition of a pro-rata portion of previously unrecognized actuarial losses, equal to the percentage of reduction in the projected benefit obligation resulting from total lump - sum benefit payments as of December 31, 2019. Settlement charges recognized as a regulatory asset within Other Noncurrent Assets on the Consolidated Balance Sheets are amortized over the average remaining service period for participants in the plan. Amortization of settlement charges is disclosed in the tables below as a component of net periodic pension costs. Net periodic benefit costs disclosed in the tables below represent the cost of the respective benefit plan for the periods presented prior to capitalization of amounts reflected as Net property, plant and equipment, on the Consolidated Balance Sheets. Only the service cost component of net periodic benefit costs is eligible to be capitalized. The remaining non-capitalized portions of net periodic benefit costs are classified as either: (1) service cost, which is recorded in Operations, maintenance and other on the Consolidated Statements of Operations; or as (2) components of non-service cost, which is recorded in Other income and expenses, net, on the Consolidated Statements of Operations. 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 Consolidated Statements of Operations of the Subsidiary Registrants also include allocated net periodic benefit costs for 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. However, in the tables below, these amounts are only presented within the Duke Energy column (except for amortization of settlement charges). These allocated amounts are included in the governance and shared service costs discussed in Note 14 . 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. Duke Energy does not anticipate making any contributions in 2020. The following table includes information related to the Duke Energy Registrants’ contributions to its 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 Piedmont Contributions Made: 2019 $ 77 $ 7 $ 57 $ 4 $ 53 $ 2 $ 2 $ 1 2018 141 46 45 25 20 — 8 — 2017 19 — — — — 4 — 11 QUALIFIED PENSION PLANS Components of Net Periodic Pension Costs Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 158 $ 49 $ 46 $ 26 $ 20 $ 4 $ 9 $ 5 Interest cost on projected benefit obligation 317 75 100 45 54 18 26 10 Expected return on plan assets (567 ) (147 ) (178 ) (88 ) (89 ) (28 ) (43 ) (22 ) Amortization of actuarial loss 108 24 39 15 24 4 8 8 Amortization of prior service credit (32 ) (8 ) (3 ) (2 ) (1 ) — (2 ) (9 ) Amortization of settlement charges 6 2 1 1 — 2 — — Net periodic pension costs (a)(b) $ (10 ) $ (5 ) $ 5 $ (3 ) $ 8 $ — $ (2 ) $ (8 ) Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 182 $ 58 $ 51 $ 29 $ 22 $ 5 $ 11 $ 7 Interest cost on projected benefit obligation 299 72 94 43 50 17 23 11 Expected return on plan assets (559 ) (147 ) (178 ) (85 ) (91 ) (28 ) (42 ) (22 ) Amortization of actuarial loss 132 29 44 21 23 5 10 11 Amortization of prior service credit (32 ) (8 ) (3 ) (2 ) (1 ) — (2 ) (10 ) Net periodic pension costs (a)(b) $ 22 $ 4 $ 8 $ 6 $ 3 $ (1 ) $ — $ (3 ) Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 159 $ 48 $ 45 $ 26 $ 19 $ 4 $ 9 $ 10 Interest cost on projected benefit obligation 328 79 100 47 53 18 26 14 Expected return on plan assets (545 ) (142 ) (167 ) (82 ) (85 ) (27 ) (42 ) (24 ) Amortization of actuarial loss 146 31 52 23 29 5 12 11 Amortization of prior service credit (24 ) (8 ) (3 ) (2 ) (1 ) (1 ) (2 ) (2 ) Settlement charge 12 — — — — — — 12 Other 8 2 2 1 1 — 1 1 Net periodic pension costs (a)(b) $ 84 $ 10 $ 29 $ 13 $ 16 $ (1 ) $ 4 $ 22 (a) Duke Energy amounts exclude $4 million , $5 million and $7 million for the years ended December 2019 , 2018 and 2017 , 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 $2 million , $2 million and $3 million for the years ended December 2019 , 2018 and 2017 , 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase (decrease) $ (212 ) $ (156 ) $ (79 ) $ (59 ) $ (20 ) $ 12 $ 22 $ — Accumulated other comprehensive loss (income) Deferred income tax expense (benefit) $ 20 — 1 — (1 ) — — — Amortization of prior year service credit 1 — — — — — — — Amortization of prior year actuarial losses (15 ) — (2 ) — 3 — — — Net amount recognized in accumulated other comprehensive income $ 6 $ — $ (1 ) $ — $ 2 $ — $ — $ — Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase $ 298 $ 170 $ 40 $ 31 $ 9 $ 10 $ 30 $ 8 Accumulated other comprehensive (income) loss Deferred income tax expense $ (2 ) $ — $ 1 $ — $ — $ — $ — $ — Prior year service credit arising during the year 1 — — — — — — — Amortization of prior year actuarial losses 10 — (4 ) — — — — — Net amount recognized in accumulated other comprehensive income $ 9 $ — $ (3 ) $ — $ — $ — $ — $ — Reconciliation of Funded Status to Net Amount Recognized Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Obligation at prior measurement date $ 7,869 $ 1,954 $ 2,433 $ 1,125 $ 1,295 $ 435 $ 618 $ 264 Service cost 150 47 43 25 18 4 8 5 Interest cost 317 75 100 45 54 18 26 10 Actuarial loss 716 101 223 87 135 54 87 33 Transfers — 11 — — — — — — Benefits paid (731 ) (265 ) (191 ) (112 ) (78 ) (30 ) (46 ) (20 ) Obligation at measurement date $ 8,321 $ 1,923 $ 2,608 $ 1,170 $ 1,424 $ 481 $ 693 $ 292 Accumulated Benefit Obligation at measurement date $ 8,262 $ 1,923 $ 2,578 $ 1,170 $ 1,392 $ 471 $ 686 $ 292 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 8,233 $ 2,168 $ 2,606 $ 1,268 $ 1,322 $ 405 $ 611 $ 305 Employer contributions 77 7 57 4 53 2 2 1 Actual return on plan assets 1,331 342 426 204 218 66 100 49 Benefits paid (731 ) (265 ) (191 ) (112 ) (78 ) (30 ) (46 ) (20 ) Transfers — 11 — — — — — — Plan assets at measurement date $ 8,910 $ 2,263 $ 2,898 $ 1,364 $ 1,515 $ 443 $ 667 $ 335 Funded status of plan $ 589 $ 340 $ 290 $ 194 $ 91 $ (38 ) $ (26 ) $ 43 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Obligation at prior measurement date $ 8,448 $ 2,029 $ 2,637 $ 1,211 $ 1,410 $ 479 $ 669 $ 313 Service cost 174 56 49 28 21 5 10 7 Interest cost 299 72 94 43 50 17 23 11 Actuarial gain (485 ) (44 ) (204 ) (87 ) (114 ) (29 ) (29 ) (18 ) Transfers — — — — — — — (16 ) Benefits paid (567 ) (159 ) (143 ) (70 ) (72 ) (37 ) (55 ) (33 ) Obligation at measurement date $ 7,869 $ 1,954 $ 2,433 $ 1,125 $ 1,295 $ 435 $ 618 $ 264 Accumulated Benefit Obligation at measurement date $ 7,818 $ 1,954 $ 2,404 $ 1,125 $ 1,265 $ 425 $ 614 $ 264 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 9,003 $ 2,372 $ 2,814 $ 1,366 $ 1,429 $ 458 $ 684 $ 368 Employer contributions 141 46 45 25 20 — 8 — Actual return on plan assets (344 ) (91 ) (110 ) (53 ) (55 ) (16 ) (26 ) (14 ) Benefits paid (567 ) (159 ) (143 ) (70 ) (72 ) (37 ) (55 ) (33 ) Transfers — — — — — — — (16 ) Plan assets at measurement date $ 8,233 $ 2,168 $ 2,606 $ 1,268 $ 1,322 $ 405 $ 611 $ 305 Funded status of plan $ 364 $ 214 $ 173 $ 143 $ 27 $ (30 ) $ (7 ) $ 41 Amounts Recognized in the Consolidated Balance Sheets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Prefunded pension (a) $ 621 $ 340 $ 322 $ 194 $ 123 $ 38 $ 57 $ 43 Noncurrent pension liability (b) $ 32 $ — $ 32 $ — $ 32 $ 76 $ 83 $ — Net asset (liability) recognized $ 589 $ 340 $ 290 $ 194 $ 91 $ (38 ) $ (26 ) $ 43 Regulatory assets $ 1,972 $ 420 $ 717 $ 313 $ 404 $ 112 $ 204 $ 81 Accumulated other comprehensive (income) loss Deferred income tax benefit $ (23 ) $ — $ (1 ) $ — $ (1 ) $ — $ — $ — Prior service credit (3 ) — — — — — — — Net actuarial loss 111 — 3 — 3 — — — Net amounts recognized in accumulated other comprehensive loss $ 85 $ — $ 2 $ — $ 2 $ — $ — $ — Amounts to be recognized in net periodic pension costs in the next year Unrecognized net actuarial loss $ 135 $ 29 $ 43 $ 19 $ 24 $ 7 $ 10 $ 9 Unrecognized prior service credit (32 ) (8 ) (3 ) (2 ) (1 ) (1 ) (2 ) (9 ) December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Prefunded pension (a) $ 433 $ 214 $ 242 $ 143 $ 96 $ 24 $ 39 $ 41 Noncurrent pension liability (b) $ 69 $ — $ 69 $ — $ 69 $ 54 $ 46 $ — Net asset recognized $ 364 $ 214 $ 173 $ 143 $ 27 $ (30 ) $ (7 ) $ 41 Regulatory assets $ 2,184 $ 576 $ 796 $ 372 $ 424 $ 100 $ 182 $ 81 Accumulated other comprehensive (income) loss Deferred income tax benefit $ (43 ) $ — $ (2 ) $ — $ — $ — $ — $ — Prior service credit (4 ) — — — — — — — Net actuarial loss 126 — 5 — — — — — Net amounts recognized in accumulated other comprehensive loss $ 79 $ — $ 3 $ — $ — $ — $ — $ — Amounts to be recognized in net periodic pension costs in the next year Unrecognized net actuarial loss $ 97 $ 22 $ 37 $ 13 $ 24 $ 3 $ 5 $ 7 Unrecognized prior service credit $ (32 ) $ (8 ) $ (3 ) $ (2 ) $ (1 ) $ — $ (2 ) $ (9 ) (a) Included in Other within Other Noncurrent Assets 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, 2019 Duke Duke Energy Energy (in millions) Ohio Indiana Projected benefit obligation $ 155 $ 260 Accumulated benefit obligation 146 252 Fair value of plan assets 79 177 December 31, 2018 Duke Duke Duke Duke Progress Energy Energy Energy (in millions) Energy Energy Florida Ohio Indiana Projected benefit obligation $ 679 $ 679 $ 679 $ 123 $ 203 Accumulated benefit obligation 651 651 651 115 199 Fair value of plan assets 610 610 610 69 159 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 for participants in active plans and life expectancy of participants in inactive plans is 12 years for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Florida, 13 years for Duke Energy Progress, Duke Energy Indiana and Duke Energy Ohio, and 9 years for Piedmont. The following tables present the assumptions or range of assumptions used for pension benefit accounting. December 31, 2019 2018 2017 Benefit Obligations Discount rate 3.30% 4.30% 3.60% Salary increase 3.50 % – 4.00% 3.50 % – 4.00% 3.50 % – 4.00% Net Periodic Benefit Cost Discount rate 4.30% 3.60% 4.10% Salary increase 3.50 % – 4.00% 3.50 % – 4.00% 4.00 % – 4.50% Expected long-term rate of return on plan assets 6.85% 6.50% 6.50 % – 6.75% Expected Benefit Payments Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Years ending December 31, 2020 $ 643 $ 167 $ 169 $ 89 $ 79 $ 37 $ 50 $ 28 2021 653 171 178 95 82 37 50 24 2022 649 177 176 92 84 37 49 22 2023 649 174 182 95 86 36 48 21 2024 638 168 184 96 87 35 48 20 2025-2029 2,851 714 871 419 448 156 220 87 NON-QUALIFIED PENSION PLANS The accumulated benefit obligation, which equals the projected benefit obligation for non-qualified pension plans, was $318 million for Duke Energy, $15 million for Duke Energy Carolinas, $110 million for Progress Energy, $32 million for Duke Energy Progress, $45 million for Duke Energy Florida, $4 million for Duke Energy Ohio, $3 million for Duke Energy Indiana and $4 million for Piedmont as of December 31, 2019 . Employer contributions, which equal benefits paid for non-qualified pension plans, were $25 million for Duke Energy, $2 million for Duke Energy Carolinas, $9 million for Progress Energy, $3 million for Duke Energy Progress and $3 million for Duke Energy Florida for the year ended December 31, 2019 . Employer contributions were not material for Duke Energy Ohio, Duke Energy Indiana or Piedmont for the year ended December 31, 2019 . Net periodic pension costs for non-qualified pension plans were not material for the years ended December 31, 2019 , 2018 or 2017 . 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 copayments. Duke Energy did not make any pre-funding contributions to its other post-retirement benefit plans during the years ended December 31, 2019 , 2018 or 2017 . Components of Net Periodic Other Post-Retirement Benefit Costs Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 4 $ 1 $ 1 $ — $ 1 $ — $ 1 $ — Interest cost on accumulated post-retirement benefit obligation 30 7 12 7 5 1 3 1 Expected return on plan assets (12 ) (7 ) — — — — — (1 ) Amortization of actuarial loss 4 2 1 — 1 — 4 — Amortization of prior service credit (19 ) (5 ) (8 ) (1 ) (7 ) (1 ) (1 ) (2 ) Net periodic post-retirement benefit costs (a)(b) $ 7 $ (2 ) $ 6 $ 6 $ — $ — $ 7 $ (2 ) Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 6 $ 1 $ 1 $ — $ 1 $ 1 $ 1 $ 1 Interest cost on accumulated post-retirement benefit obligation 28 7 12 6 6 1 3 1 Expected return on plan assets (13 ) (8 ) — — — — — (2 ) Amortization of actuarial loss 6 3 1 1 — — 4 — Amortization of prior service credit (19 ) (5 ) (8 ) (1 ) (7 ) (1 ) (1 ) (2 ) Net periodic post-retirement benefit costs (a)(b) $ 8 $ (2 ) $ 6 $ 6 $ — $ 1 $ 7 $ (2 ) Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 4 $ 1 $ — $ — $ — $ — $ — $ 1 Interest cost on accumulated post-retirement benefit obligation 34 8 13 7 6 1 3 1 Expected return on plan assets (14 ) (8 ) — — — — (1 ) (2 ) Amortization of actuarial loss (gain) 10 (2 ) 21 12 9 (2 ) (1 ) 1 Amortization of prior service credit (115 ) (10 ) (84 ) (54 ) (30 ) — (1 ) — Curtailment credit (c) (30 ) (4 ) (16 ) — (16 ) (2 ) (2 ) — Net periodic post-retirement benefit costs (a)(b) $ (111 ) $ (15 ) $ (66 ) $ (35 ) $ (31 ) $ (3 ) $ (2 ) $ 1 (a) Duke Energy amounts exclude $6 million , $7 million and $7 million for the years ended December 2019 , 2018 and 2017 , 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 $2 million , $2 million and $2 million for the years ended December 2019 , 2018 and 2017 , respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. (c) Curtailment credit resulted from a reduction in average future service of plan participants due to a plan amendment. Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase (decrease) $ (127 ) $ — $ (127 ) $ (82 ) $ (45 ) $ — $ (5 ) $ — Regulatory liabilities, net increase (decrease) $ (152 ) $ 1 $ (149 ) $ (93 ) $ (56 ) $ (1 ) $ (4 ) $ 3 Accumulated other comprehensive (income) loss Deferred income tax benefit $ — $ — $ — $ — $ — $ — $ — $ — Amortization of prior year actuarial gain (4 ) — — — — — — — Net amount recognized in accumulated other comprehensive income $ (4 ) $ — $ — $ — $ — $ — $ — $ — Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase (decrease) $ 137 $ — $ 133 $ 84 $ 49 $ — $ (5 ) $ 4 Regulatory liabilities, net increase (decrease) $ 154 $ (6 ) $ 149 $ 93 $ 56 $ 2 $ 3 $ — Accumulated other comprehensive (income) loss Deferred income tax benefit $ (1 ) $ — $ — $ — $ — $ — $ — $ — Amortization of prior year prior service credit 1 — — — — — — — Net amount recognized in accumulated other comprehensive income $ — $ — $ — $ — $ — $ — $ — $ — Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 728 $ 174 $ 303 $ 166 $ 137 $ 29 $ 67 $ 30 Service cost 4 1 1 — 1 — 1 — Interest cost 30 7 12 7 5 1 3 1 Plan participants' contributions 16 3 6 3 2 1 2 — Actuarial losses 28 9 13 9 5 1 2 — Transfers — — — — — — — — Benefits paid (83 ) (19 ) (32 ) (17 ) (15 ) (3 ) (11 ) (1 ) Accumulated post-retirement benefit obligation at measurement date $ 723 $ 175 $ 303 $ 168 $ 135 $ 29 $ 64 $ 30 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 195 $ 115 $ — $ — $ — $ 8 $ 5 $ 29 Actual return on plan assets 32 20 (1 ) — — 1 — 6 Benefits paid (83 ) (19 ) (32 ) (17 ) (15 ) (3 ) (11 ) (1 ) Employer contributions 60 11 26 13 13 2 9 — Plan participants' contributions 16 3 6 3 2 1 2 — Plan assets at measurement date $ 220 $ 130 $ (1 ) $ (1 ) $ — $ 9 $ 5 $ 34 Funded status of plan $ (503 ) $ (45 ) $ (304 ) $ (169 ) $ (135 ) $ (20 ) $ (59 ) $ 4 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 813 $ 189 $ 342 $ 184 $ 156 $ 30 $ 78 $ 32 Service cost 6 1 1 — 1 1 1 1 Interest cost 28 7 12 6 6 1 3 1 Plan participants' contributions 18 3 6 4 3 1 2 — Actuarial losses (gains) (51 ) (8 ) (23 ) (9 ) (13 ) (2 ) (5 ) (1 ) Transfers — — — — — — — (1 ) Benefits paid (86 ) (18 ) (35 ) (19 ) (16 ) (2 ) (12 ) (2 ) Accumulated post-retirement benefit obligation at measurement date $ 728 $ 174 $ 303 $ 166 $ 137 $ 29 $ 67 $ 30 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 225 $ 133 $ — $ — $ — $ 7 $ 11 $ 31 Actual return on plan assets (8 ) (5 ) — — — — — (1 ) Benefits paid (86 ) (18 ) (35 ) (19 ) (16 ) (2 ) (12 ) (2 ) Employer contributions (reimbursements) 46 2 29 15 13 2 4 1 Plan participants' contributions 18 3 6 4 3 1 2 — Plan assets at measurement date $ 195 $ 115 $ — $ — $ — $ 8 $ 5 $ 29 Funded status of plan $ (533 ) $ (59 ) $ (303 ) $ (166 ) $ (137 ) $ (21 ) $ (62 ) $ (1 ) Amounts Recognized in the Consolidated Balance Sheets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current post-retirement liability (a) $ 9 $ — $ 5 $ 3 $ 2 $ 1 $ — $ — Noncurrent post-retirement liability (b) 494 45 299 166 133 19 59 (4 ) Total accrued post-retirement liability $ 503 $ 45 $ 304 $ 169 $ 135 $ 20 $ 59 $ (4 ) Regulatory assets $ 135 $ — $ 135 $ 82 $ 53 $ — $ 36 $ — Regulatory liabilities $ 149 $ 39 $ — $ — $ — $ 17 $ 63 $ 3 Accumulated other comprehensive (income) loss Deferred income tax expense $ 3 $ — $ — $ — $ — $ — $ — $ — Prior service credit (2 ) — — — — — — — Net actuarial gain (13 ) — — — — — — — Net amounts recognized in accumulated other comprehensive income $ (12 ) $ — $ — $ — $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss $ 5 $ 3 $ 1 $ — $ 1 $ — $ — $ — Unrecognized prior service credit (14 ) (4 ) (3 ) (1 ) (2 ) (1 ) (1 ) (2 ) December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current post-retirement liability (a) $ 8 $ — $ 5 $ 3 $ 2 $ 2 $ — $ — Noncurrent post-retirement liability (b) 525 59 298 163 135 19 62 1 Total accrued post-retirement liability $ 533 $ 59 $ 303 $ 166 $ 137 $ 21 $ 62 $ 1 Regulatory assets $ 262 $ — $ 262 $ 164 $ 98 $ — $ 41 $ — Regulatory liabilities $ 301 $ 38 $ 149 $ 93 $ 56 $ 18 $ 67 $ — Accumulated other comprehensive (income) loss Deferred income tax expense $ 3 $ — $ — $ — $ — $ — $ — $ — Prior service credit (2 ) — — — — — — — Net actuarial gain (9 ) — — — — — — — Net amounts recognized in accumulated other comprehensive income $ (8 ) $ — $ — $ — $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss (gain) $ 4 $ 2 $ 1 $ — $ — $ — $ — $ — Unrecognized prior service credit (19 ) (5 ) (7 ) (1 ) (6 ) (1 ) (1 ) (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. 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 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 eight years for Duke Energy and Duke Energy Carolinas, seven years for Progress Energy, Duke Energy Florida, and Duke Energy Ohio, and six years for Duke Energy Progress, Duke Energy Indiana, and Piedmont. The following tables present the assumptions used for other post-retirement benefits accounting. December 31, 2019 2018 2017 Benefit Obligations Discount rate 3.30 % 4.30 % 3.60 % Net Periodic Benefit Cost Discount rate 4.30 % 3.60 % 4.10 % Expected long-term rate of return on plan assets 6.85 % 6.50 % 6.50 % Assumed tax rate 23 % 35 % 35 % Assumed Health Care Cost Trend Rate December 31, 2019 2018 Health care cost trend rate assumed for next year 6.00 % 6.50 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.75 % 4.75 % Year that rate reaches ultimate trend 2026 2024 Sensitivity to Changes in Assumed Health Care Cost Trend Rates Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 1-Percentage Point Increase Effect on total service and interest costs $ 1 $ — $ 1 $ 1 $ — $ — $ — $ — Effect on post-retirement benefit obligation 22 5 9 5 4 1 2 1 1-Percentage Point Decrease Effect on total service and interest costs (1 ) — (1 ) (1 ) — — — — Effect on post-retirement benefit obligation (20 ) (5 ) (8 ) (4 ) (4 ) (1 ) (2 ) (1 ) Expected Benefit Payments Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Years ending December 31, 2020 $ 76 $ 18 $ 29 $ 16 $ 13 $ 4 $ 8 $ 2 2021 70 17 28 15 13 3 7 2 2022 66 16 27 14 12 3 7 2 2023 63 15 25 14 12 3 6 2 2024 59 15 24 13 11 3 6 2 2025-2029 246 60 101 55 46 11 23 11 PLAN ASSETS Description and Allocations Duke Energy Master Retirement Trust Assets for both the qualified pension and other post-retirement benefits are maintained in the Duke Energy Master Retirement Trust. Approximately 98% of the Duke Energy Master Retirement Trust assets were allocated to qualified pension plans and approximately 2% were allocated to other post-retirement plans (comprised of 401(h) accounts), as of December 31, 2019 , and 2018 . The investment objective of the Duke Energy Master Retirement Trust is to invest in a diverse portfolio of assets that is expected to generate positive surplus return over time (i.e. asset growth greater than liability growth) subject to a prudent level of portfolio risk, for the purpose of enhancing the security of benefits for plan participants. As of December 31, 2019 , Duke Energy assumes pension and other post-retirement plan assets will generate a long-term rate of return of 6.85% . The expected long-term rate of return was developed using a weighted average calculation of expected returns based primarily on future expected returns across asset classes considering the use of active asset managers, where applicable. The asset allocation targets were set after considering the investment objective and the risk profile. Equity securities are held for their higher expected returns. Debt securities are primarily held to hedge the qualified pension plan liability. Real assets, return seeking fixed income, hedge funds and other global securities are held for diversification. Investments within asset classes are diversified to achieve broad market participation and reduce the impact of individual managers or investments. Effective January 1, 2019, the target asset allocation for the Duke Energy Retirement Master Trust is 58% liability hedging assets and 42% return-seeking assets. Duke Energy periodically reviews its asset allocation targets, and over time, as the funded status of the benefit plans increase, the level of asset risk relative to plan liabilities may be reduced to better manage Duke Energy's benefit plan liabilities and reduce funded status volatility. The Duke Energy Master Retirement Trust is authorized to engage in the lending of certain plan assets. Securities lending is an investment management enhancement that utilizes certain existing securities of the Duke Energy Master Retirement Trust to earn additional income. Securities lending involves the loaning of securities to approved parties. In return for the loaned securities, the Duke Energy Master Retirement Trust receives collateral in the |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Tax Act On December 22, 2017, President Trump signed the Tax Act into law. Among other provisions, the Tax Act lowered the corporate federal income tax rate from 35% to 21%, limits interest deductions outside of regulated utility operations, requires the normalization of excess deferred taxes associated with property under the average rate assumption method as a prerequisite to qualifying for accelerated depreciation and repealed the federal manufacturing deduction. The Tax Act also repealed the corporate AMT and stipulates a refund of 50% of remaining AMT credit carryforwards (to the extent the credits exceed regular tax for the year) for tax years 2018, 2019, and 2020, with all remaining AMT credits to be refunded in tax year 2021. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin (SAB) 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, which provides guidance on accounting for the Tax Act’s impact. SAB 118 provides a measurement period, which in no case should extend beyond one year from the Tax Act enactment date, during which a company acting in good faith may complete the accounting for the impacts of the Tax Act under ASC Topic 740. In accordance with SAB 118, a company must reflect the income tax effects of the Tax Act in the reporting period in which the accounting under ASC Topic 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete, a company can determine a reasonable estimate for those effects and record a provisional estimate in the financial statements in the first reporting period in which a reasonable estimate can be determined. As of December 31, 2018, the accounting for the effects of the Tax Act was complete. During the year ended December 31, 2018, Duke Energy recorded the following measurement period adjustments in accordance with SAB 118: • Additional tax expense of $23 million related to the completion of the analysis of Duke Energy’s existing regulatory liability related to deferred taxes; • A $10 million tax benefit for the remeasurement of deferred tax assets and deferred tax liabilities primarily related to the guidance on bonus depreciation issued by the IRS in August 2018, affecting the computation of the Company's 2017 Federal income tax liability; • Additional tax expense of $7 million related to the portion of the deferred tax asset as of December 31, 2017, that represents nondeductible long-term incentives under the Tax Act’s limitation on the deductibility of executive compensation; and • During the fourth quarter of 2018, the Company released the $76 million valuation allowance that it recorded in the first quarter of 2018 as a result of additional guidance published by the IRS that stated refundable AMT credits would not be subject to sequestration. • The majority of Duke Energy’s operations are regulated and it is expected that the Subsidiary Registrants will ultimately pass on the savings associated with the amount representing the remeasurement of deferred tax balances related to regulated operations to customers. For Duke Energy's regulated operations, where the reduction is expected to be returned to customers in future rates, the remeasurement has been deferred as a regulatory liability. During 2018, Duke Energy recorded an additional regulatory liability of $83 million , representing the revaluation of those deferred tax balances. The Subsidiary Registrants continue to respond to requests from regulators in various jurisdictions to determine the timing and magnitude of savings they will pass on to customers. In addition, during 2018, Duke Energy reclassified $573 million of AMT credit carryforwards from noncurrent deferred tax liabilities to a current federal income tax receivable. In 2019, Duke Energy received a refund of $573 million related to AMT credit carryforwards based on the filing of Duke Energy's 2018 income tax return in 2019 and reclassified $286 million of AMT credits from noncurrent deferred tax liabilities to a current federal income tax receivable. Income Tax Expense Components of Income Tax Expense Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current income taxes Federal $ (299 ) $ 164 $ (173 ) $ (36 ) $ (43 ) $ (41 ) $ (23 ) $ (92 ) State 10 13 (7 ) (3 ) 18 (1 ) 1 (1 ) Foreign 2 — — — — — — — Total current income taxes (287 ) 177 (180 ) (39 ) (25 ) (42 ) (22 ) (93 ) Deferred income taxes Federal 855 175 422 220 153 77 128 133 State (38 ) (37 ) 17 (18 ) 27 5 28 3 Total deferred income taxes (a) 817 138 439 202 180 82 156 136 ITC amortization (11 ) (4 ) (6 ) (6 ) — — — — Income tax expense from continuing operations 519 311 253 157 155 40 134 43 Tax benefit from discontinued operations (2 ) — — — — — — — Total income tax expense included in Consolidated Statements of Operations $ 517 $ 311 $ 253 $ 157 $ 155 $ 40 $ 134 $ 43 (a) Total deferred income taxes includes the generation of tax credit carryforwards of $8 million at Duke Energy Carolinas. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $243 million at Progress Energy, $35 million at Duke Energy Progress, $152 million at Duke Energy Florida, $25 million at Duke Energy Ohio, $60 million at Duke Energy Indiana, $90 million at Piedmont and $775 million at Duke Energy. Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current income taxes Federal $ (647 ) $ (8 ) $ (135 ) $ (71 ) $ (49 ) $ 20 $ 29 $ 67 State (11 ) 6 (5 ) (5 ) (10 ) (1 ) 3 1 Foreign 3 — — — — — — — Total current income taxes (655 ) (2 ) (140 ) (76 ) (59 ) 19 32 68 Deferred income taxes Federal 1,064 299 341 256 115 21 74 (36 ) State 49 11 20 (17 ) 45 3 22 5 Total deferred income taxes (a)(b) 1,113 310 361 239 160 24 96 (31 ) ITC amortization (10 ) (5 ) (3 ) (3 ) — — — — Income tax expense from continuing operations 448 303 218 160 101 43 128 37 Tax benefit from discontinued operations (26 ) — — — — — — — Total income tax expense included in Consolidated Statements of Operations $ 422 $ 303 $ 218 $ 160 $ 101 $ 43 $ 128 $ 37 (a) Includes benefits of NOL carryforwards and tax credit carryforwards of $22 million at Duke Energy Carolinas, $293 million at Progress Energy, $59 million at Duke Energy Progress, $219 million at Duke Energy Florida, $17 million at Duke Energy Ohio, $21 million at Duke Energy Indiana and $39 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $18 million at Duke Energy. (b) For the year ended December 31, 2018, the Company has revised the December 31, 2017, estimates of the income tax effects of the Tax Act, in accordance with SAB 118. See the Statutory Rate Reconciliation section below for additional information on the Tax Act's impact on income tax expense. Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current income taxes Federal $ (247 ) $ 221 $ (436 ) $ (95 ) $ (188 ) $ (37 ) $ 128 $ (90 ) State 4 20 (5 ) 2 (11 ) 2 21 (3 ) Foreign 3 — — — — — — — Total current income taxes (240 ) 241 (441 ) (93 ) (199 ) (35 ) 149 (93 ) Deferred income taxes Federal 1,344 381 664 378 194 99 138 147 State 102 35 44 10 51 (4 ) 14 8 Total deferred income taxes (a)(b) 1,446 416 708 388 245 95 152 155 ITC amortization (10 ) (5 ) (3 ) (3 ) — (1 ) — — Income tax expense from continuing operations 1,196 652 264 292 46 59 301 62 Tax benefit from discontinued operations (6 ) — — — — — — — Total income tax expense included in Consolidated Statements of Operations $ 1,190 $ 652 $ 264 $ 292 $ 46 $ 59 $ 301 $ 62 (a) Includes utilization of NOL carryforwards and tax credit carryforwards of $428 million at Duke Energy, $74 million at Progress Energy, $36 million at Duke Energy Florida, $17 million at Duke Energy Ohio, $42 million at Duke Energy Indiana and $79 million at Piedmont. In addition, total deferred income taxes includes benefits of NOL carryforwards and tax credit carryforwards of $10 million at Duke Energy Carolinas and $1 million at Duke Energy Progress. (b) As a result of the Tax Act, Duke Energy's deferred tax assets and liabilities were revalued as of December 31, 2017. See the Statutory Rate Reconciliation section below for additional information on the Tax Act's impact on income tax expense. Duke Energy Income from Continuing Operations before Income Taxes Years Ended December 31, (in millions) 2019 2018 2017 Domestic (a) $ 4,053 $ 3,018 $ 4,207 Foreign 44 55 59 Income from continuing operations before income taxes $ 4,097 $ 3,073 $ 4,266 (a) Includes a $16 million expense in 2017 related to the Tax Act impact on equity earnings included within Equity in earnings of unconsolidated affiliates on the Consolidated Statement of Operations. 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Income tax expense, computed at the statutory rate of 21% $ 860 $ 360 $ 332 $ 202 $ 178 $ 59 $ 120 $ 51 State income tax, net of federal income tax effect (22 ) (19 ) 8 (17 ) 35 3 22 2 Amortization of excess deferred income tax (121 ) (29 ) (64 ) (10 ) (54 ) (12 ) (6 ) (10 ) AFUDC equity income (52 ) (9 ) (14 ) (13 ) (1 ) (3 ) (3 ) — AFUDC equity depreciation 34 19 10 5 5 1 4 — Renewable energy PTCs (120 ) — — — — — — — Other tax credits (23 ) (11 ) (9 ) (7 ) (2 ) (1 ) (1 ) (1 ) Tax true up (64 ) (9 ) (8 ) (3 ) (5 ) (7 ) (1 ) — Other items, net 27 9 (2 ) — (1 ) — (1 ) 1 Income tax expense from continuing operations $ 519 $ 311 $ 253 $ 157 $ 155 $ 40 $ 134 $ 43 Effective tax rate 12.7 % 18.1 % 16.0 % 16.3 % 18.3 % 14.3 % 23.5 % 17.6 % Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Income tax expense, computed at the statutory rate of 21% $ 645 $ 288 $ 263 $ 174 $ 137 $ 46 $ 109 $ 35 State income tax, net of federal income tax effect 30 14 13 (17 ) 28 2 20 4 Amortization of excess deferred income tax (61 ) — (55 ) (1 ) (54 ) (3 ) (2 ) — AFUDC equity income (42 ) (15 ) (22 ) (12 ) (10 ) (2 ) (2 ) — AFUDC equity depreciation 31 18 9 5 4 1 4 — Renewable energy PTCs (129 ) — — — — — — — Other tax credits (28 ) (7 ) (13 ) (5 ) (8 ) (1 ) (1 ) (3 ) Tax Act (a) 20 1 25 19 — 2 — — Other items, net (18 ) 4 (2 ) (3 ) 4 (2 ) — 1 Income tax expense from continuing operations $ 448 $ 303 $ 218 $ 160 $ 101 $ 43 $ 128 $ 37 Effective tax rate 14.6 % 22.1 % 17.4 % 19.3 % 15.4 % 19.6 % 24.6 % 22.3 % (a) For the year ended December 31, 2018, the Company revised the December 31, 2017 estimates of the income tax effects of the Tax Act, in accordance with SAB 118. Amounts primarily include but are not limited to items that are excluded for ratemaking purposes related certain wholesale fixed rate contracts, remeasurement of nonregulated net deferred tax liabilities, Federal NOLs, and valuation allowance on foreign tax credits. Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Income tax expense, computed at the statutory rate of 35% $ 1,493 $ 653 $ 536 $ 353 $ 265 $ 88 $ 229 $ 70 State income tax, net of federal income tax effect 69 36 25 8 26 (1 ) 23 3 AFUDC equity income (81 ) (37 ) (32 ) (17 ) (16 ) (4 ) (8 ) — Renewable energy PTCs (132 ) — — — — — — — Tax Act (a) (112 ) 15 (246 ) (40 ) (226 ) (23 ) 55 (12 ) Tax true up (52 ) (24 ) (19 ) (13 ) (7 ) (5 ) (6 ) — Other items, net 11 9 — 1 4 4 8 1 Income tax expense from continuing operations $ 1,196 $ 652 $ 264 $ 292 $ 46 $ 59 $ 301 $ 62 Effective tax rate 28.0 % 34.9 % 17.2 % 29.0 % 6.1 % 23.4 % 46.0 % 30.8 % (a) Amounts primarily include but are not limited to items that are excluded for ratemaking purposes related to abandoned or impaired assets, certain wholesale fixed rate contracts, remeasurement of nonregulated net deferred tax liabilities, Federal NOLs, and valuation allowance on foreign tax credits. Valuation allowances have been established for certain 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 State income tax, net of federal income tax effect, in the above tables. Valuation allowances have been established for foreign 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 Act in the above tables. DEFERRED TAXES Net Deferred Income Tax Liability Components December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Deferred credits and other liabilities $ 125 $ 24 $ 25 $ 49 $ — $ 14 $ 5 $ 22 Lease obligations 462 72 193 92 102 5 17 6 Pension, post-retirement and other employee benefits 303 (5 ) 88 38 44 17 27 (3 ) Progress Energy merger purchase accounting adjustments (a) 389 — — — — — — — Tax credits and NOL carryforwards 3,925 262 486 176 253 16 176 19 Regulatory liabilities and deferred credits — — — — — 36 52 42 Investments and other assets — — — — — 10 — 2 Other 97 5 8 3 2 8 1 6 Valuation allowance (587 ) — — — — — — — Total deferred income tax assets 4,714 358 800 358 401 106 278 94 Investments and other assets (1,664 ) (981 ) (577 ) (390 ) (190 ) — (12 ) — Accelerated depreciation rates (10,813 ) (3,254 ) (3,798 ) (1,918 ) (1,913 ) (1,028 ) (1,416 ) (802 ) Regulatory assets and deferred debits, net (1,115 ) (44 ) (887 ) (438 ) (477 ) — — — Total deferred income tax liabilities (13,592 ) (4,279 ) (5,262 ) (2,746 ) (2,580 ) (1,028 ) (1,428 ) (802 ) Net deferred income tax liabilities $ (8,878 ) $ (3,921 ) $ (4,462 ) $ (2,388 ) $ (2,179 ) $ (922 ) $ (1,150 ) $ (708 ) (a) Primarily related to finance lease obligations and debt fair value adjustments. The following table presents the expiration of tax credits and NOL carryforwards. December 31, 2019 (in millions) Amount Expiration Year General Business Credits $ 1,821 2024 — 2039 AMT credits 286 Refundable by 2021 Federal NOL carryforwards (a) (f) 169 2024 — Indefinite Capital loss carryforward (e) 87 2024 State carryforwards and credits (b) (f) 303 2020 — Indefinite Foreign NOL carryforwards (c) 12 2027 — 2037 Foreign Tax Credits (d) 1,237 2024 — 2027 Charitable contribution carryforwards 10 2020 — 2024 Total tax credits and NOL carryforwards $ 3,925 (a) A valuation allowance of $4 million has been recorded on the Federal NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (b) A valuation allowance of $97 million has been recorded on the state NOL and credit carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (c) A valuation allowance of $12 million has been recorded on the foreign NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (d) A valuation allowance of $387 million has been recorded on the foreign tax credits, as presented in the Net Deferred Income Tax Liability Components table. (e) A valuation allowance of $87 million has been recorded on the Federal capital loss carryforward, as presented in the Net Deferred Income Tax Liability Components table. (f) Indefinite carryforward for Federal NOLs, and NOLs for states that have adopted the Tax Act's NOL provisions, generated in tax years beginning after December 31, 2017. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Deferred credits and other liabilities $ 164 $ 64 $ 35 $ 53 $ — $ 17 $ 6 $ 17 Finance lease obligations 60 26 — — — — 2 — Pension, post-retirement and other employee benefits 347 24 110 47 58 16 24 (1 ) Progress Energy merger purchase accounting adjustments (a) 483 — — — — — — — Tax credits and NOL carryforwards 4,580 257 693 215 363 42 237 110 Regulatory liabilities and deferred credits — — — — — 56 — 48 Investments and other assets — — — — — 18 — 16 Other 25 6 5 5 — 1 (1 ) — Valuation allowance (484 ) — — — — — — — Total deferred income tax assets 5,175 377 843 320 421 150 268 190 Investments and other assets (1,317 ) (795 ) (430 ) (272 ) (163 ) — (5 ) — Accelerated depreciation rates (10,124 ) (3,207 ) (3,369 ) (1,735 ) (1,670 ) (967 ) (1,081 ) (733 ) Regulatory assets and deferred debits, net (1,540 ) (64 ) (985 ) (432 ) (574 ) — (191 ) — Other — — — — — — — (8 ) Total deferred income tax liabilities (12,981 ) (4,066 ) (4,784 ) (2,439 ) (2,407 ) (967 ) (1,277 ) (741 ) Net deferred income tax liabilities $ (7,806 ) $ (3,689 ) $ (3,941 ) $ (2,119 ) $ (1,986 ) $ (817 ) $ (1,009 ) $ (551 ) (a) Primarily related to finance lease obligations and debt fair value adjustments. UNRECOGNIZED TAX BENEFITS The following tables present changes to unrecognized tax benefits. Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unrecognized tax benefits – January 1 $ 24 $ 6 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 Unrecognized tax benefit increases 105 2 1 1 — — — — Gross decreases – tax positions in prior periods (3 ) — (1 ) (1 ) — — — — Total changes 102 2 — — — — — — Unrecognized tax benefits – December 31 $ 126 $ 8 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unrecognized tax benefits – January 1 $ 25 $ 5 $ 5 $ 5 $ 5 $ 1 $ 1 $ 3 Unrecognized tax benefits increases (decreases) Gross decreases – tax positions in prior periods (2 ) (1 ) — — (4 ) — — — Gross increases – tax positions in prior periods 7 2 4 1 2 — — 1 Decreases due to settlements (6 ) — — — — — — — Total changes (1 ) 1 4 1 (2 ) — — 1 Unrecognized tax benefits – December 31 $ 24 $ 6 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unrecognized tax benefits – January 1 $ 17 $ 1 $ 2 $ 2 $ 4 $ 4 $ — $ — Unrecognized tax benefits increases (decreases) Gross increases – tax positions in prior periods 12 4 3 3 1 1 1 3 Gross decreases – tax positions in prior periods (4 ) — — — — (4 ) — — Total changes 8 4 3 3 1 (3 ) 1 3 Unrecognized tax benefits – December 31 $ 25 $ 5 $ 5 $ 5 $ 5 $ 1 $ 1 $ 3 The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2019 . It is reasonably possible that Duke Energy will reflect a $3 million decrease in unrecognized tax benefits within the next 12 months. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Amount that if recognized, would affect the effective tax rate or regulatory liability (a) $ 122 $ 8 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 (a) The Duke Energy Registrants 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, 2019 Duke Duke Progress Energy (in millions) Energy Energy Progress Piedmont Net interest income recognized related to income taxes $ 16 $ 1 $ 1 $ — Interest receivable related to income taxes 1 — — — Interest payable related to income taxes 1 — — 1 Year Ended December 31, 2018 Duke Duke Progress Energy (in millions) Energy Energy Progress Net interest income recognized related to income taxes $ 2 $ — $ — Interest payable related to income taxes 3 1 1 Year Ended December 31, 2017 Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Net interest income recognized related to income taxes $ — $ — $ 1 $ — $ 1 Net interest expense recognized related to income taxes — 2 — — — Interest payable related to income taxes 5 25 1 1 — Duke Energy and its subsidiaries are no longer subject to U.S. federal examination for years before 2016. 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 2016. |
Other Income and Expenses, Net
Other Income and Expenses, Net | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Interest income $ 31 $ 1 $ 11 $ — $ 11 $ 10 $ 10 $ 1 AFUDC equity 139 42 66 60 6 13 18 — Post in-service equity returns 29 20 7 7 — 1 — — Nonoperating income, other 231 88 57 33 31 — 13 19 Other income and expense, net $ 430 $ 151 $ 141 $ 100 $ 48 $ 24 $ 41 $ 20 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Interest income $ 20 $ 1 $ 18 $ 1 $ 18 $ 7 $ 9 $ 1 AFUDC equity 221 73 104 57 47 11 32 — Post in-service equity returns 15 9 5 5 — 1 — — Nonoperating income, other 143 70 38 24 21 4 4 13 Other income and expense, net $ 399 $ 153 $ 165 $ 87 $ 86 $ 23 $ 45 $ 14 Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Interest income $ 13 $ 2 $ 6 $ 2 $ 5 $ 6 $ 8 $ — AFUDC equity 237 106 92 47 45 11 28 — Post in-service equity returns 40 28 12 12 — — — — Nonoperating income, other 218 63 99 54 46 6 11 (11 ) Other income and expense, net $ 508 $ 199 $ 209 $ 115 $ 96 $ 23 $ 47 $ (11 ) |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS For information on subsequent events related to the adoption of the new credit losses accounting standard, regulatory matters and debt and credit facilities, see Notes 1, 4 and 7, respectively. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
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 2019 Operating revenues $ 6,163 $ 5,873 $ 6,940 $ 6,103 $ 25,079 Operating income 1,373 1,298 1,929 1,109 5,709 Income from continuing operations 893 748 1,323 614 3,578 Loss from discontinued operations, net of tax — — — (7 ) (7 ) Net income 893 748 1,323 607 3,571 Net income available to Duke Energy Corporation common stockholders 900 820 1,327 660 3,707 Earnings per share: Income from continuing operations available to Duke Energy Corporation common stockholders Basic and diluted $ 1.24 $ 1.12 $ 1.82 $ 0.89 $ 5.07 Loss from discontinued operations attributable to Duke Energy Corporation common stockholders Basic and diluted $ — $ — $ — $ (0.01 ) $ (0.01 ) Net income available to Duke Energy Corporation common stockholders Basic and diluted $ 1.24 $ 1.12 $ 1.82 $ 0.88 $ 5.06 2018 Operating revenues $ 6,135 $ 5,643 $ 6,628 $ 6,115 $ 24,521 Operating income 1,256 979 1,579 871 4,685 Income from continuing operations 622 507 1,062 434 2,625 (Loss) Income from discontinued operations, net of tax — (5 ) 4 20 19 Net income 622 502 1,066 454 2,644 Net income attributable to Duke Energy Corporation 620 500 1,082 464 2,666 Earnings per share: Income from continuing operations attributable to Duke Energy Corporation common stockholders Basic and diluted $ 0.88 $ 0.72 $ 1.51 $ 0.62 $ 3.73 (Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders Basic and diluted $ — $ (0.01 ) $ — $ 0.03 $ 0.03 Net income attributable to Duke Energy Corporation common stockholders Basic and diluted $ 0.88 $ 0.71 $ 1.51 $ 0.65 $ 3.76 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 2019 Impairment Charges (see Notes 4 and 13) $ — $ — $ 25 $ (14 ) $ 11 Total $ — $ — $ 25 $ (14 ) $ 11 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (17 ) $ (20 ) $ (16 ) $ (31 ) $ (84 ) Regulatory and Legislative Impacts (see Note 4) (86 ) (179 ) — — (265 ) Sale of Retired Plant (see Note 3) (107 ) — — — (107 ) Impairment Charges (see Notes 4, 12 and 13) (55 ) — (93 ) (60 ) (208 ) Severance Charges (see Note 21) — — — (187 ) (187 ) Impacts of the Tax Act (see Note 24) (76 ) — 3 53 (20 ) Total $ (341 ) $ (199 ) $ (106 ) $ (225 ) $ (871 ) DUKE ENERGY CAROLINAS First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 1,744 $ 1,713 $ 2,162 $ 1,776 $ 7,395 Operating income 435 451 793 347 2,026 Net income 293 301 590 219 1,403 2018 Operating revenues $ 1,763 $ 1,672 $ 2,090 $ 1,775 $ 7,300 Operating income 482 224 713 241 1,660 Net income 323 117 496 135 1,071 The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (4 ) $ (2 ) $ (2 ) $ (1 ) $ (9 ) Regulatory and Legislative Impacts (see Note 4) (19 ) (179 ) — — (198 ) Severance Charges (see Note 21) — — — (102 ) (102 ) Impacts of the Tax Act (see Note 24) — — (1 ) — (1 ) Total $ (23 ) $ (181 ) $ (3 ) $ (103 ) $ (310 ) PROGRESS ENERGY First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 2,572 $ 2,744 $ 3,242 $ 2,644 $ 11,202 Operating income 488 580 786 447 2,301 Net income 248 329 521 229 1,327 Net income attributable to Parent 249 328 521 229 1,327 2018 Operating revenues $ 2,576 $ 2,498 $ 3,045 $ 2,609 $ 10,728 Operating income 447 484 663 334 1,928 Net income 237 267 406 123 1,033 Net income attributable to Parent 235 265 404 123 1,027 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 2019 Impairment Charges (see Note 4) $ — $ — $ 25 $ 11 $ 36 Total $ — $ — $ 25 $ 11 $ 36 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (4 ) $ (3 ) $ (1 ) $ (2 ) $ (10 ) Regulatory and Legislative Impacts (see Note 4) (67 ) — — — (67 ) Impairment Charges (see Note 4) — — — (60 ) (60 ) Severance Charges (see Note 21) — — — (69 ) (69 ) Impacts of the Tax Act (see Note 24) (1 ) — (5 ) (19 ) (25 ) Total $ (72 ) $ (3 ) $ (6 ) $ (150 ) $ (231 ) DUKE ENERGY PROGRESS First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 1,484 $ 1,387 $ 1,688 $ 1,398 $ 5,957 Operating income 300 259 373 236 1,168 Net income 203 169 278 155 805 2018 Operating revenues $ 1,460 $ 1,291 $ 1,582 $ 1,366 $ 5,699 Operating income 269 233 330 227 1,059 Net income 177 139 216 135 667 The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (2 ) $ (2 ) $ (1 ) $ (1 ) $ (6 ) Regulatory and Legislative Impacts (see Note 4) (67 ) — — — (67 ) Severance Charges (see Note 21) — — — (52 ) (52 ) Impacts of the Tax Act (see Note 24) — — (4 ) (15 ) (19 ) Total $ (69 ) $ (2 ) $ (5 ) $ (68 ) $ (144 ) DUKE ENERGY FLORIDA First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 1,086 $ 1,353 $ 1,548 $ 1,244 $ 5,231 Operating income 188 321 413 205 1,127 Net income 96 201 289 106 692 2018 Operating revenues $ 1,115 $ 1,203 $ 1,462 $ 1,241 $ 5,021 Operating income 173 245 331 107 856 Net income 103 168 243 40 554 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 2019 Impairment Charges (see Note 4) $ — $ — $ 25 $ 11 $ 36 Total $ — $ — $ 25 $ 11 $ 36 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (2 ) $ (1 ) $ — $ (1 ) $ (4 ) Impairment Charges (see Note 4) — — — (60 ) (60 ) Severance Charges (see Note 21) — — — (17 ) (17 ) Impacts of the Tax Act (see Note 24) — — (2 ) 2 — Total $ (2 ) $ (1 ) $ (2 ) $ (76 ) $ (81 ) DUKE ENERGY OHIO First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 531 $ 433 $ 489 $ 487 $ 1,940 Operating income 104 74 108 78 364 Net income 69 47 74 48 238 2018 Operating revenues $ 524 $ 459 $ 469 $ 505 $ 1,957 Operating (loss) income (21 ) 77 139 93 288 Net (loss) income (25 ) 46 100 55 176 The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (3 ) $ (5 ) $ — $ (6 ) $ (14 ) Sale of Retired Plant (see Note 3) (107 ) — — — (107 ) Severance Charges (see Note 21) — — — (6 ) (6 ) Impacts of the Tax Act (see Note 24) — — — (2 ) (2 ) Total $ (110 ) $ (5 ) $ — $ (14 ) $ (129 ) DUKE ENERGY INDIANA First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 768 $ 714 $ 807 $ 715 $ 3,004 Operating income 169 148 235 133 685 Net income 110 97 156 73 436 2018 Operating revenues $ 731 $ 738 $ 819 $ 771 $ 3,059 Operating income 168 169 173 133 643 Net income 100 98 119 76 393 The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ — $ — $ (2 ) $ — $ (2 ) Severance Charges (see Note 21) — — — (7 ) (7 ) Total $ — $ — $ (2 ) $ (7 ) $ (9 ) PIEDMONT First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 579 $ 209 $ 168 $ 425 $ 1,381 Operating income (loss) 172 6 (13 ) 139 304 Net income (loss) 122 (7 ) (18 ) 105 202 2018 Operating revenues $ 553 $ 215 $ 172 $ 435 $ 1,375 Operating income (loss) 161 5 (19 ) 79 226 Net income (loss) 110 (8 ) (21 ) 48 129 The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (6 ) $ (9 ) $ (11 ) $ (22 ) $ (48 ) Severance Charges (see Note 21) — — — (2 ) (2 ) Total $ (6 ) $ (9 ) $ (11 ) $ (24 ) $ (50 ) |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Nature of Operations and Basis of Consolidation | Nature of Operations and Basis of Consolidation Duke Energy is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also subsidiary registrants, including Duke Energy Carolinas; Progress Energy; Duke Energy Progress; Duke Energy Florida; Duke Energy Ohio; Duke Energy Indiana and Piedmont. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke Energy Registrants. The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Consolidated Financial Statements. However, none of the Subsidiary Registrants make any representation as to information related solely to Duke Energy or the Subsidiary Registrants 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 or VIEs where the respective Duke Energy Registrants have control. See Note 18 for additional information on VIEs. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. See Note 9 for additional information on joint ownership. Substantially all of the Subsidiary Registrants' operations qualify for regulatory accounting. 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 NCUC, PSCSC, NRC and FERC. Progress Energy is a public utility holding company, which conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Progress Energy is subject to regulation by FERC and other regulatory agencies listed below. 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. 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 FPSC, NRC and FERC. 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 conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered 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. References herein to Duke Energy Ohio collectively include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the PUCO, KPSC and FERC. 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 IURC and FERC. Piedmont is a regulated public utility primarily engaged in the distribution of natural gas in portions of North Carolina, South Carolina and Tennessee. Piedmont is subject to the regulatory provisions of the NCUC, PSCSC, TPUC and FERC. Certain prior year amounts have been reclassified to conform to the current year presentation. |
Discontinued Operations | Discontinued 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. See Note 2 for additional information. |
Noncontrolling Interest | Noncontrolling Interest Duke Energy maintains a controlling financial interest in certain less-than wholly owned non-regulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Consolidated Balance Sheet. Several operating agreements of Duke Energy's subsidiaries with noncontrolling interest are subject to allocations of tax attributes and cash flows in accordance with contractual agreements that vary throughout the lives of the subsidiaries. Therefore, Duke Energy and the other investors' (the owners) interests in the subsidiaries are not fixed, and the subsidiaries apply the HLBV method in allocating income or loss and other comprehensive income or loss (all measured on a pretax basis) to the owners. The HLBV method measures the amounts that each owner would hypothetically claim at each balance sheet reporting date, including tax benefits realized by the owners, upon a hypothetical liquidation of the subsidiary at the net book value of its underlying assets. The change in the amount that each owner would hypothetically receive at the reporting date compared to the amount it would have received on the previous reporting date represents the amount of income or loss allocated to each owner for the reporting period. During 2019, Duke Energy received $428 million for the sale of noncontrolling interests to tax equity members subject to the HLBV method for projects totaling 718 MW in nameplate capacity. Duke Energy allocated approximately $165 million of losses to noncontrolling tax equity members utilizing the HLBV method for the year ended December 31, 2019 . Other operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares. |
Use of Estimates | Use of Estimates In preparing financial statements that conform to GAAP, 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 natural 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 natural 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. For example, if a cost cap is set for a plant still under construction, the amount of the disallowance is a result of a judgment as to the ultimate cost of the plant. These 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 partially or fully offset by the establishment of a regulatory asset if rate recovery is probable. The impairment charge 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 or PGA clauses. These clauses allow for the recovery of fuel and fuel-related costs, portions of purchased power, natural gas costs and hedging 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, Operating Expenses – Fuel used in electric generation or Operating Expenses – Cost of natural gas on the Consolidated Statements of Operations, with an off-setting impact on regulatory assets or liabilities |
Cash, Cash Equivalents and Restricted Cash | Cash, Cash Equivalents and Restricted Cash All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Note 18 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 Duke Duke Duke Progress Energy Duke Progress Energy Energy Energy Florida Energy Energy Florida Current Assets Cash and cash equivalents $ 311 $ 48 $ 17 $ 442 $ 67 $ 36 Other 222 39 39 141 39 39 Other Noncurrent Assets Other 40 39 — 8 6 — Total cash, cash equivalents and restricted cash $ 573 $ 126 $ 56 $ 591 $ 112 $ 75 |
Inventory | Inventory Inventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written-down to the lower of cost or net realizable value. Once inventory has been written-down, it creates a new cost basis for the inventory that is not subsequently written-up. Provisions for inventory write-offs were not material at December 31, 2019 , and 2018 , respectively. 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 in equity securities as FV-NI and investments in debt securities as AFS. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on securities classified as FV-NI are reported through net income. Unrealized gains and losses for debt securities classified as AFS are included in AOCI until realized, except OTTIs that are included in earnings immediately. At the time gains and losses for debt securities are realized, they are reported through net income. For certain investments of regulated operations, such as substantially all of the NDTF, realized and unrealized gains and losses (including any OTTIs) on debt securities are recorded as a regulatory asset or liability. 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 16 for further information. |
Goodwill and Intangible Assets | Goodwill Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be a business segment or one level below. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont 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. See Note 12 for further information. Intangible Assets Intangible assets are included in Other in Other Noncurrent 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 SO 2 and NO X . Allowances are issued by the 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. Emission allowances are expensed to Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. RECs are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 12 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 advisors. Triggering events to reassess cash flows may include, but are not limited to, significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset. |
Equity Method Investment Impairments | Equity Method Investment Impairments Investments in affiliates that are not controlled by Duke Energy, but over which it has significant influence, are accounted for using the equity method. Equity method investments are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. If the decline in value is considered to be other than temporary, the investment is written down to its estimated fair value, which establishes a new cost basis in the investment. Impairment assessments use a discounted cash flow income approach and include consideration of the severity and duration of any decline in the fair value of the investments. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. Key inputs that involve estimates and significant management judgment include cash flow projections, selection of a discount rate, probability weighting of potential outcomes, and whether any decline in value is considered temporary. |
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 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, 2019 2018 2017 Duke Energy 3.1 % 3.0 % 2.8 % Duke Energy Carolinas 2.8 % 2.8 % 2.8 % Progress Energy 3.1 % 2.9 % 2.6 % Duke Energy Progress 3.1 % 2.9 % 2.6 % Duke Energy Florida 3.1 % 3.0 % 2.8 % Duke Energy Ohio 2.6 % 2.8 % 2.8 % Duke Energy Indiana 3.3 % 3.3 % 3.0 % Piedmont 2.4 % 2.5 % 2.3 % In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the 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 if deemed recoverable (see discussion of long-lived asset impairments above). 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 11 for additional information. |
Nuclear Fuel | Nuclear Fuel Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets. 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 on the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method. |
Allowance for Funds Used During Construction 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 ETR when capitalized and increases the ETR when depreciated or amortized. See Note 24 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 AROs are recognized for legal obligations associated with the retirement of property, plant and equipment. Substantially all AROs are related to regulated operations. When recording an ARO, 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 unless determined not to be probable of recovery. 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 ARO 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 netted and 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. In 2019, Duke Energy Florida entered into an agreement for the accelerated decommissioning of Crystal River Unit 3. See Note 4 for more information. 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 yet to be built 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 10 |
Revenue Recognition | Revenue Recognition Duke Energy recognizes revenue as customers obtain control of promised goods and services in an amount that reflects consideration expected in exchange for those goods or services. Generally, the delivery of electricity and natural gas results in the transfer of control to customers at the time the commodity is delivered and the amount of revenue recognized is equal to the amount billed to each customer, including estimated volumes delivered when billings have not yet occurred. See Note 19 for further information. |
Derivatives and Hedging | Derivatives and Hedging Derivative and non-derivative instruments may be used in connection with commodity price and interest rate activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the 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. |
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 financial losses, primarily related to property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not 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. The gain or loss on extinguishment associated with refinancing higher-cost debt obligations in the regulated operations is amortized over the remaining life of the original instrument. 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. Premiums, discounts and expenses are presented as an adjustment to the carrying value of the debt amount and included in Long-Term Debt on the Consolidated Balance Sheets presented. |
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. |
Pension and Other Post-Retirement Benefit Plans | Pension and Other Post-Retirement Benefit Plans |
Severance and Special Termination Benefits | Severance and Special Termination Benefits |
Guarantees | Guarantees |
Stock-Based Compensation | Stock-Based Compensation |
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 are parties to 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. ITCs associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties. Accumulated deferred income taxes are valued using the enacted tax rate expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be settled or realized. In the event of a change in tax rates, deferred tax assets and liabilities are remeasured as of the enactment date of the new rate. To the extent that the change in the value of the deferred tax represents an obligation to customers, the impact of the remeasurement is deferred to a regulatory liability. Remaining impacts are recorded in income from continuing operations. If Duke Energy's estimate of the tax effect of reversing temporary differences is not reflective of actual outcomes, is modified to reflect new developments or interpretations of the tax law, revised to incorporate new accounting principles, or changes in the expected timing or manner of the reversal then Duke Energy's results of operations could be impacted. Tax-related interest and penalties are recorded in Interest Expense and Other Income and Expenses, net in the Consolidated Statements of Operations. |
Accounting for Renewable Energy Tax Credits | Accounting for Renewable Energy Tax Credits When Duke Energy receives ITCs on wind or solar facilities, it reduces the basis of the property recorded on the Consolidated Balance Sheets by the amount of the ITC and, therefore, the ITC benefit is ultimately recognized in the statement of operations 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. 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. Taxes for which Duke operates merely as a collection agent for the state and local government are accounted for on a net basis. Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows. |
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 |
New Accounting Standard | New Accounting Standards Except as noted below, the new accounting standards adopted for 2019 , 2018 and 2017 had no material impact on the presentation or results of operations, cash flows or financial position of the Duke Energy Registrants. Leases. In February 2016, the FASB issued revised accounting guidance for leases. The core principle of this guidance is that a lessee should recognize the assets and liabilities that arise from leases on the balance sheet. This resulted in a material impact on the presentation for the statement of financial position of the Duke Energy Registrants for the period ended December 31, 2019 , and an immaterial impact to the Duke Energy Registrants' results of operations and cash flows for the year ended December 31, 2019 . Duke Energy elected the modified retrospective method of adoption effective January 1, 2019. Under the modified retrospective method of adoption, prior year reported results are not restated. For adoption, Duke Energy elected to apply the following practical expedients: Practical Expedient Description Package of transition practical expedients (for leases commenced prior to adoption date and must be adopted as a package) Do not need to 1) reassess whether any expired or existing contracts are/or contain leases, 2) reassess the lease classification for any expired or existing leases and 3) reassess initial direct costs for any existing leases. Short-term lease expedient (elect by class of underlying asset) Elect as an accounting policy to not apply the recognition requirements to short-term leases by asset class. Lease and non-lease components (elect by class of underlying asset) Elect as an accounting policy to not separate non-lease components from lease components and instead account for each lease and associated non-lease component as a single lease component by asset class. Hindsight expedient (when determining lease term) Elect to use hindsight to determine the lease term. Existing and expired land easements not previously accounted for as leases Elect to not evaluate existing or expired easements under the new guidance and carry forward current accounting treatment. Comparative reporting requirements for initial adoption Elect to apply transition requirements at adoption date, recognize cumulative effect adjustment to retained earnings in period of adoption and not apply the new requirements to comparative periods, including disclosures. Lessor expedient (elect by class of underlying asset) Elect as an accounting policy to aggregate non-lease components with the related lease component when specified conditions are met by asset class. Account for the combined component based on its predominant characteristic (revenue or operating lease). Duke Energy evaluated the financial statement impact of adopting the standard and monitored industry implementation issues. Under agreements considered leases, where Duke Energy is the lessee, for the use of certain aircraft, space on communication towers, industrial equipment, fleet vehicles, fuel transportation (barges and railcars), land, office space and PPAs are now recognized on the balance sheet. The Duke Energy Registrants did not have a material change to the financial statements from the adoption of the new standard for contracts where it is the lessor. See Note 6 for further information. The following new accounting standard has been issued but not yet adopted by the Duke Energy Registrants as of December 31, 2019 . Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. This guidance establishes a new impairment model applicable to certain financial assets, including trade and other receivables, net investments in leases, and debt securities classified as held-for-sale investments. The model also applies to financial guarantees. For Duke Energy, the guidance is effective for interim and annual periods beginning January 1, 2020. This guidance will be applied using a modified retrospective approach. Under the modified retrospective approach of adoption, prior year reported results are not restated and a cumulative-effect adjustment is recorded to retained earnings at January 1, 2020. Upon adoption, Duke Energy will recognize an allowance for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Duke Energy expects the impacts of this standard to be driven by the reserve for credit losses on financial guarantees, trade and other receivables, and insurance receivables. Duke Energy does not intend to adopt any practical expedients. Duke Energy currently expects to record a reserve for credit losses as shown in approximate amounts in the table below: December 31, 2019 Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Piedmont Total pretax impact to Retained Earnings $ 120 $ 16 $ 2 $ 1 $ 1 $ 1 In addition to the reserve for credit losses, Duke Energy expects additional disclosures on management's evaluation of credit risks inherent in financial assets and how management monitors credit quality, changes in expected credit losses, and the appropriateness of the allowance for credit losses on a forward-looking basis. Duke Energy also expects additional disclosures around credit losses for new investments in leases, loan commitments, and other financial instruments. |
Earnings Per Share | Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the diluted weighted average number of common shares 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 and equity forward sale agreements, were exercised or settled. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Current and Noncurrent Assets and Liabilities | The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2019 , or 2018 . December 31, (in millions) Location 2019 2018 Duke Energy Taxes receivable Current Assets $ 357 $ 729 Accrued compensation Current Liabilities 862 793 Duke Energy Carolinas Accrued compensation Current Liabilities $ 271 $ 251 Other accrued liabilities Current Liabilities 147 55 Progress Energy Customer deposits Current Liabilities $ 354 $ 345 Duke Energy Florida Customer deposits Current Liabilities $ 209 $ 208 Other accrued liabilities Current Liabilities 89 85 Duke Energy Indiana Income taxes receivable Current Assets $ 44 $ 9 Customer deposits Current Liabilities 49 47 |
Schedule of Cash and Cash Equivalents | The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 Duke Duke Duke Progress Energy Duke Progress Energy Energy Energy Florida Energy Energy Florida Current Assets Cash and cash equivalents $ 311 $ 48 $ 17 $ 442 $ 67 $ 36 Other 222 39 39 141 39 39 Other Noncurrent Assets Other 40 39 — 8 6 — Total cash, cash equivalents and restricted cash $ 573 $ 126 $ 56 $ 591 $ 112 $ 75 |
Components of Inventory | The components of inventory are presented in the tables below. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,297 $ 768 $ 1,038 $ 686 $ 351 $ 79 $ 318 $ 5 Coal 586 187 186 138 48 15 198 — Natural gas, oil and other 349 41 199 110 90 41 1 67 Total inventory $ 3,232 $ 996 $ 1,423 $ 934 $ 489 $ 135 $ 517 $ 72 December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,238 $ 731 $ 1,049 $ 734 $ 315 $ 84 $ 312 $ 2 Coal 491 175 192 106 86 14 109 — Natural gas, oil and other 355 42 218 114 103 28 1 68 Total inventory $ 3,084 $ 948 $ 1,459 $ 954 $ 504 $ 126 $ 422 $ 70 |
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, 2019 2018 2017 Duke Energy 3.1 % 3.0 % 2.8 % Duke Energy Carolinas 2.8 % 2.8 % 2.8 % Progress Energy 3.1 % 2.9 % 2.6 % Duke Energy Progress 3.1 % 2.9 % 2.6 % Duke Energy Florida 3.1 % 3.0 % 2.8 % Duke Energy Ohio 2.6 % 2.8 % 2.8 % Duke Energy Indiana 3.3 % 3.3 % 3.0 % Piedmont 2.4 % 2.5 % 2.3 % The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants. December 31, 2019 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 Piedmont Land $ 2,091 $ 520 $ 884 $ 449 $ 435 $ 150 $ 117 $ 388 Plant – Regulated Electric generation, distribution and transmission 15-100 111,739 42,723 48,142 30,018 18,124 5,838 15,032 — Natural gas transmission and distribution 4-73 9,839 — — — — 2,892 — 6,947 Other buildings and improvements 23-90 1,810 714 401 162 239 269 278 148 Plant – Nonregulated Electric generation, distribution and transmission 5-30 5,103 — — — — — — — Other buildings and improvements 25-35 488 — — — — — — — Nuclear fuel 3,253 1,891 1,362 1,362 — — — — Equipment 3-25 2,313 546 665 452 213 319 205 128 Construction in process 6,102 1,389 2,149 1,114 1,035 504 381 531 Other 2-40 4,916 1,139 1,467 1,046 411 269 292 304 Total property, plant and equipment (a)(e) 147,654 48,922 55,070 34,603 20,457 10,241 16,305 8,446 Total accumulated depreciation – regulated (b)(c) (43,419 ) (16,525 ) (17,159 ) (11,915 ) (5,236 ) (2,843 ) (5,233 ) (1,681 ) Total accumulated depreciation – nonregulated (d)(e) (2,354 ) — — — — — — — Generation facilities to be retired, net 246 — 246 246 — — — — Total net property, plant and equipment $ 102,127 $ 32,397 $ 38,157 $ 22,934 $ 15,221 $ 7,398 $ 11,072 $ 6,765 (a) Includes finance leases of $952 million , $211 million , $443 million , $308 million , $135 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $143 million , $17 million and $126 million , respectively, of accumulated amortization of finance leases. (b) Includes $1,807 million , $1,082 million , $725 million and $725 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 finance leases of $6 million , $13 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively. (d) Includes accumulated amortization of finance leases of $20 million at Duke Energy. (e) Includes gross property, plant and equipment cost of consolidated VIEs of $5,747 million and accumulated depreciation of consolidated VIEs of $1,041 million at Duke Energy. December 31, 2018 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 Piedmont Land $ 2,072 $ 472 $ 868 $ 445 $ 423 $ 136 $ 116 $ 448 Plant – Regulated Electric generation, distribution and transmission 15-100 100,706 38,468 42,760 26,147 16,613 5,182 14,292 — Natural gas transmission and distribution 12-80 8,808 — — — — 2,719 — 6,089 Other buildings and improvements 24-90 1,966 681 636 295 341 270 253 126 Plant – Nonregulated Electric generation, distribution and transmission 5-30 4,410 — — — — — — — Other buildings and improvements 25-35 494 — — — — — — — Nuclear fuel 3,460 1,898 1,562 1,562 — — — — Equipment 3-55 2,141 467 565 399 166 384 178 141 Construction in process 5,726 1,678 2,515 1,659 856 412 325 382 Other 3-40 4,675 1,077 1,354 952 393 257 279 300 Total property, plant and equipment (a)(d) 134,458 44,741 50,260 31,459 18,792 9,360 15,443 7,486 Total accumulated depreciation – regulated (b)(c)(d) (41,079 ) (15,496 ) (16,398 ) (11,423 ) (4,968 ) (2,717 ) (4,914 ) (1,575 ) Total accumulated depreciation – nonregulated (c)(d) (2,047 ) — — — — — — — Generation facilities to be retired, net 362 — 362 362 — — — — Total net property, plant and equipment $ 91,694 $ 29,245 $ 34,224 $ 20,398 $ 13,824 $ 6,643 $ 10,529 $ 5,911 (a) Includes finance leases of $1,237 million , $135 million , $257 million , $137 million , $120 million , $73 million and $35 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 $131 million , $14 million and $117 million , respectively, of accumulated amortization of finance leases. (b) Includes $1,947 million , $1,087 million , $860 million and $860 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 finance leases of $61 million , $12 million , $20 million and $10 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 $4,007 million and accumulated depreciation of consolidated VIEs of $698 million at Duke Energy. |
Schedule of Excise Taxes | Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows. Years Ended December 31, (in millions) 2019 2018 2017 Duke Energy $ 421 $ 405 $ 376 Duke Energy Carolinas 39 35 36 Progress Energy 256 241 220 Duke Energy Progress 21 19 19 Duke Energy Florida 235 222 201 Duke Energy Ohio 101 105 98 Duke Energy Indiana 23 22 20 Piedmont 2 2 2 |
Summary of Effects of New Accounting Pronouncements | Duke Energy elected the modified retrospective method of adoption effective January 1, 2019. Under the modified retrospective method of adoption, prior year reported results are not restated. For adoption, Duke Energy elected to apply the following practical expedients: Practical Expedient Description Package of transition practical expedients (for leases commenced prior to adoption date and must be adopted as a package) Do not need to 1) reassess whether any expired or existing contracts are/or contain leases, 2) reassess the lease classification for any expired or existing leases and 3) reassess initial direct costs for any existing leases. Short-term lease expedient (elect by class of underlying asset) Elect as an accounting policy to not apply the recognition requirements to short-term leases by asset class. Lease and non-lease components (elect by class of underlying asset) Elect as an accounting policy to not separate non-lease components from lease components and instead account for each lease and associated non-lease component as a single lease component by asset class. Hindsight expedient (when determining lease term) Elect to use hindsight to determine the lease term. Existing and expired land easements not previously accounted for as leases Elect to not evaluate existing or expired easements under the new guidance and carry forward current accounting treatment. Comparative reporting requirements for initial adoption Elect to apply transition requirements at adoption date, recognize cumulative effect adjustment to retained earnings in period of adoption and not apply the new requirements to comparative periods, including disclosures. Lessor expedient (elect by class of underlying asset) Elect as an accounting policy to aggregate non-lease components with the related lease component when specified conditions are met by asset class. Account for the combined component based on its predominant characteristic (revenue or operating lease). Duke Energy currently expects to record a reserve for credit losses as shown in approximate amounts in the table below: December 31, 2019 Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Piedmont Total pretax impact to Retained Earnings $ 120 $ 16 $ 2 $ 1 $ 1 $ 1 |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |
Business Segment Data | Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets. Year Ended December 31, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated Revenues $ 22,798 $ 1,770 $ 487 $ 25,055 $ 24 $ — $ 25,079 Intersegment Revenues 33 96 — 129 71 (200 ) — Total Revenues $ 22,831 $ 1,866 $ 487 $ 25,184 $ 95 $ (200 ) $ 25,079 Interest Expense $ 1,345 $ 117 $ 95 $ 1,557 $ 705 $ (58 ) $ 2,204 Depreciation and amortization 3,951 256 168 4,375 178 (5 ) 4,548 Equity in earnings (losses) of unconsolidated affiliates 9 114 (4 ) 119 43 — 162 Income tax expense (benefit) 785 22 (115 ) 692 (173 ) — 519 Segment income (loss) (a)(b) 3,536 432 198 4,166 (452 ) — 3,714 Add back noncontrolling interest (c) (177 ) Add back preferred stock dividend 41 Loss from discontinued operations, net of tax (7 ) Net income $ 3,571 Capital investments expenditures and acquisitions $ 8,263 $ 1,539 $ 1,423 $ 11,225 $ 221 $ — $ 11,446 Segment assets 135,561 13,921 6,020 155,502 3,148 188 158,838 (a) Electric Utilities and Infrastructure includes a $27 million reduction of a prior year impairment at Citrus County CC related to the plant's cost cap. See Note 4 for additional information. (b) Gas Utilities and Infrastructure includes an after-tax impairment charge of $19 million for the remaining investment in Constitution. See Note 13 for additional information. (c) Includes the allocation of losses to noncontrolling tax equity members. See Note 1 for additional information. Year Ended December 31, 2018 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated Revenues $ 22,242 $ 1,783 $ 477 $ 24,502 $ 19 $ — $ 24,521 Intersegment Revenues 31 98 — 129 70 (199 ) — Total Revenues $ 22,273 $ 1,881 $ 477 $ 24,631 $ 89 $ (199 ) $ 24,521 Interest Expense $ 1,288 $ 106 $ 88 $ 1,482 $ 657 $ (45 ) $ 2,094 Depreciation and amortization 3,523 245 155 3,923 152 (1 ) 4,074 Equity in earnings (losses) of unconsolidated affiliates 5 27 (1 ) 31 52 — 83 Income tax expense (benefit) (a) 799 78 (147 ) 730 (282 ) — 448 Segment income (loss) (b)(c)(d)(e) 3,058 274 9 3,341 (694 ) — 2,647 Add back noncontrolling interest component (22 ) Loss from discontinued operations, net of tax 19 Net income $ 2,644 Capital investments expenditures and acquisitions $ 8,086 $ 1,133 $ 193 $ 9,412 $ 256 $ — $ 9,668 Segment assets 125,364 12,361 4,204 141,929 3,275 188 145,392 (a) All segments include adjustments to the December 31, 2017, estimate of the income tax effects of the Tax Act. Electric Utilities and Infrastructure includes a $24 million expense, Gas Utilities and Infrastructure includes a $1 million expense, Commercial Renewables includes a $3 million benefit and Other includes a $2 million benefit. See Note 24 for additional information. (b) Electric Utilities and Infrastructure includes after-tax regulatory and legislative impairment charges of $202 million related to rate case orders, settlements or other actions of regulators or legislative bodies and an after-tax impairment charge of $46 million related to the Citrus County CC at Duke Energy Florida. See Note 4 for additional information. (c) Gas Utilities and Infrastructure includes an after-tax impairment charge of $42 million for the investment in Constitution. See Note 13 for additional information. (d) Commercial Renewables includes an impairment charge of $91 million , net of $2 million Noncontrolling interests, related to goodwill. See Note 12 for additional information. (e) Other includes $65 million of after-tax costs to achieve the Piedmont merger, $144 million of after-tax severance charges related to a companywide initiative and an $82 million after-tax loss on the sale of Beckjord described below. For additional information, see Note 2 for the Piedmont Merger and Note 21 for severance charges. In February 2018, Duke Energy sold Beckjord, a nonregulated facility retired during 2014, and recorded a pretax loss of $106 million within (Losses) Gains on Sales of Other Assets and Other, net and $1 million within Operation, maintenance and other on Duke Energy's Consolidated Statements of Operations for the year ended December 31, 2018. The sale included the transfer of coal ash basins and other real property and indemnification from any and all potential future claims related to the property, whether arising under environmental laws or otherwise. Year Ended December 31, 2017 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated Revenues $ 21,300 $ 1,743 $ 460 $ 23,503 $ 62 $ — $ 23,565 Intersegment Revenues 31 93 — 124 76 (200 ) — Total Revenues $ 21,331 $ 1,836 $ 460 $ 23,627 $ 138 $ (200 ) $ 23,565 Interest Expense $ 1,240 $ 105 $ 87 $ 1,432 $ 574 $ (20 ) $ 1,986 Depreciation and amortization 3,010 231 155 3,396 131 — 3,527 Equity in earnings (losses) of unconsolidated affiliates 5 62 (5 ) 62 57 — 119 Income tax expense (benefit) (a) 1,355 116 (628 ) 843 353 — 1,196 Segment income (loss) (b)(c)(d) 3,210 319 441 3,970 (905 ) — 3,065 Add back noncontrolling interest component 5 Loss from discontinued operations, net of tax (6 ) Net income $ 3,064 Capital investments expenditures and acquisitions $ 7,024 $ 907 $ 92 $ 8,023 $ 175 $ — $ 8,198 Segment assets 119,423 11,462 4,156 135,041 2,685 188 137,914 (a) All segments include impacts of the Tax Act. Electric Utilities and Infrastructure includes a $231 million benefit, Gas Utilities and Infrastructure includes a $26 million benefit, Commercial Renewables includes a $442 million benefit and Other includes charges of $597 million . (b) Electric Utilities and Infrastructure includes after-tax regulatory settlement charges of $98 million . (c) Commercial Renewables includes after-tax impairment charges of $74 million related to certain wind projects and the Energy Management Solutions reporting unit. See Notes 11 and 12 for additional information. (d) Other includes $64 million of after-tax costs to achieve the Piedmont merger. See Note 2 for additional information. |
Schedule of Revenue, By Products and Services | Products and Services The following table summarizes revenues of the reportable segments by type. Retail Wholesale Retail Total (in millions) Electric Electric Natural Gas Other Revenues 2019 Electric Utilities and Infrastructure $ 19,745 $ 2,231 $ — $ 855 $ 22,831 Gas Utilities and Infrastructure — — 1,782 84 1,866 Commercial Renewables — 389 — 98 487 Total Reportable Segments $ 19,745 $ 2,620 $ 1,782 $ 1,037 $ 25,184 2018 Electric Utilities and Infrastructure $ 19,013 $ 2,345 $ — $ 915 $ 22,273 Gas Utilities and Infrastructure — — 1,817 64 1,881 Commercial Renewables — 375 — 102 477 Total Reportable Segments $ 19,013 $ 2,720 $ 1,817 $ 1,081 $ 24,631 2017 Electric Utilities and Infrastructure $ 18,177 $ 2,104 $ — $ 1,050 $ 21,331 Gas Utilities and Infrastructure — — 1,732 104 1,836 Commercial Renewables — 375 — 85 460 Total Reportable Segments $ 18,177 $ 2,479 $ 1,732 $ 1,239 $ 23,627 |
Duke Energy Ohio | |
Segment Reporting Information [Line Items] | |
Business Segment Data | Year Ended December 31, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 1,456 $ 484 $ 1,940 $ — $ — $ 1,940 Interest expense $ 80 $ 29 $ 109 $ — $ — $ 109 Depreciation and amortization 182 83 265 — — 265 Income tax expense (benefit) 20 21 41 (1 ) — 40 Segment income (loss)/Net income 159 85 244 (5 ) — 239 Loss from discontinued operations, net of tax (1 ) Net income $ 238 Capital expenditures $ 680 $ 272 $ 952 $ — $ — $ 952 Segment assets 6,188 3,116 9,304 34 — 9,338 Year Ended December 31, 2018 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 1,450 $ 506 $ 1,956 $ 1 $ — $ 1,957 Interest expense $ 67 $ 24 $ 91 $ 1 $ — $ 92 Depreciation and amortization 183 85 268 — — 268 Income tax expense (benefit) 47 24 71 (28 ) — 43 Segment income (loss)/Net income (a) 186 93 279 (103 ) — 176 Capital expenditures $ 655 $ 172 $ 827 $ — $ — $ 827 Segment assets 5,643 2,874 8,517 38 — 8,555 (a) Other includes the loss on the sale of Beckjord, see discussion above. Year Ended December 31, 2017 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 1,373 $ 508 $ 1,881 $ 42 $ — $ 1,923 Interest expense $ 62 $ 28 $ 90 $ 1 $ — $ 91 Depreciation and amortization 178 83 261 — — 261 Income tax expense (benefit) 40 39 79 (20 ) — 59 Segment income (loss) 138 85 223 (30 ) — 193 Loss from discontinued operations, net of tax (1 ) Net income $ 192 Capital expenditures $ 491 $ 195 $ 686 $ — $ — $ 686 Segment assets 5,066 2,758 7,824 66 (15 ) 7,875 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant. Duke Energy Progress Energy December 31, December 31, (in millions) 2019 2018 2019 2018 Regulatory Assets AROs – coal ash $ 4,084 $ 4,255 $ 1,843 $ 2,061 AROs – nuclear and other 739 772 668 601 Accrued pension and OPEB 2,391 2,654 897 1,074 Storm cost deferrals 1,399 1,117 1,214 953 Nuclear asset securitized balance, net 1,042 1,093 1,042 1,093 Debt fair value adjustment 1,019 1,099 — — Deferred fuel and purchased power 528 838 305 600 Deferred asset – Lee and Harris COLA 388 426 38 43 Hedge costs deferrals 356 204 129 74 Demand side management (DSM)/Energy Efficiency (EE) 343 449 241 256 Advanced metering infrastructure (AMI) 338 367 114 127 Retired generation facilities 331 402 266 324 Post-in-service carrying costs (PISCC) and deferred operating expenses 329 320 33 36 Vacation accrual 214 213 41 41 Derivatives – natural gas supply contracts 117 141 — — Nuclear deferral 107 133 40 46 Manufactured gas plant (MGP) 102 99 — — Deferred pipeline integrity costs 79 65 — — NCEMPA deferrals 72 50 72 50 East Bend deferrals 44 47 — — Transmission expansion obligation 36 39 — — Amounts due from customers 36 24 — — Grid modernization 28 31 — — Other 896 784 349 322 Total regulatory assets 15,018 15,622 7,292 7,701 Less: current portion 1,796 2,005 946 1,137 Total noncurrent regulatory assets $ 13,222 $ 13,617 $ 6,346 $ 6,564 Regulatory Liabilities Net regulatory liability related to income taxes $ 7,872 $ 8,058 $ 2,595 $ 2,710 Costs of removal 5,756 5,421 2,561 2,135 AROs – nuclear and other 1,100 538 — — Accrued pension and OPEB 176 301 — 149 Amounts to be refunded to customers 34 34 — — Deferred fuel and purchased power 1 16 1 16 Other 1,109 1,064 398 319 Total regulatory liabilities 16,048 15,432 5,555 5,329 Less: current portion 784 598 330 280 Total noncurrent regulatory liabilities $ 15,264 $ 14,834 $ 5,225 $ 5,049 |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant. Duke Energy Progress Energy December 31, December 31, (in millions) 2019 2018 2019 2018 Regulatory Assets AROs – coal ash $ 4,084 $ 4,255 $ 1,843 $ 2,061 AROs – nuclear and other 739 772 668 601 Accrued pension and OPEB 2,391 2,654 897 1,074 Storm cost deferrals 1,399 1,117 1,214 953 Nuclear asset securitized balance, net 1,042 1,093 1,042 1,093 Debt fair value adjustment 1,019 1,099 — — Deferred fuel and purchased power 528 838 305 600 Deferred asset – Lee and Harris COLA 388 426 38 43 Hedge costs deferrals 356 204 129 74 Demand side management (DSM)/Energy Efficiency (EE) 343 449 241 256 Advanced metering infrastructure (AMI) 338 367 114 127 Retired generation facilities 331 402 266 324 Post-in-service carrying costs (PISCC) and deferred operating expenses 329 320 33 36 Vacation accrual 214 213 41 41 Derivatives – natural gas supply contracts 117 141 — — Nuclear deferral 107 133 40 46 Manufactured gas plant (MGP) 102 99 — — Deferred pipeline integrity costs 79 65 — — NCEMPA deferrals 72 50 72 50 East Bend deferrals 44 47 — — Transmission expansion obligation 36 39 — — Amounts due from customers 36 24 — — Grid modernization 28 31 — — Other 896 784 349 322 Total regulatory assets 15,018 15,622 7,292 7,701 Less: current portion 1,796 2,005 946 1,137 Total noncurrent regulatory assets $ 13,222 $ 13,617 $ 6,346 $ 6,564 Regulatory Liabilities Net regulatory liability related to income taxes $ 7,872 $ 8,058 $ 2,595 $ 2,710 Costs of removal 5,756 5,421 2,561 2,135 AROs – nuclear and other 1,100 538 — — Accrued pension and OPEB 176 301 — 149 Amounts to be refunded to customers 34 34 — — Deferred fuel and purchased power 1 16 1 16 Other 1,109 1,064 398 319 Total regulatory liabilities 16,048 15,432 5,555 5,329 Less: current portion 784 598 330 280 Total noncurrent regulatory liabilities $ 15,264 $ 14,834 $ 5,225 $ 5,049 |
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. Dollar amounts in the table below are included in Net property, plant and equipment on the Consolidated Balance Sheets as of December 31, 2019 , and exclude capitalized asset retirement costs. Remaining Net Capacity Book Value (in MW) (in millions) Duke Energy Carolinas Allen Steam Station Units 1-3 (a) 585 $ 152 Duke Energy Indiana Gallagher Units 2 and 4 (b) 280 114 Gibson Units 1-5 (c) 3,132 1,697 Cayuga Units 1-2 (c) 1,005 974 Total Duke Energy $ 5,002 $ 2,937 (a) Duke Energy Carolinas will retire Allen Steam Station Units 1 through 3 by December 31, 2024, as part of the resolution of a lawsuit involving alleged New Source Review violations. (b) 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 2016 settlement of Edwardsport IGCC matters. (c) On July 1, 2019, Duke Energy Indiana filed its 2018 IRP with the IURC. The 2018 IRP included scenarios evaluating the potential retirement of coal-fired generating units at Gibson and Cayuga. The rate case filed July 2, 2019, includes proposed depreciation rates reflecting retirement dates from 2026 to 2038. |
Progress Energy | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant. Duke Energy Progress Energy December 31, December 31, (in millions) 2019 2018 2019 2018 Regulatory Assets AROs – coal ash $ 4,084 $ 4,255 $ 1,843 $ 2,061 AROs – nuclear and other 739 772 668 601 Accrued pension and OPEB 2,391 2,654 897 1,074 Storm cost deferrals 1,399 1,117 1,214 953 Nuclear asset securitized balance, net 1,042 1,093 1,042 1,093 Debt fair value adjustment 1,019 1,099 — — Deferred fuel and purchased power 528 838 305 600 Deferred asset – Lee and Harris COLA 388 426 38 43 Hedge costs deferrals 356 204 129 74 Demand side management (DSM)/Energy Efficiency (EE) 343 449 241 256 Advanced metering infrastructure (AMI) 338 367 114 127 Retired generation facilities 331 402 266 324 Post-in-service carrying costs (PISCC) and deferred operating expenses 329 320 33 36 Vacation accrual 214 213 41 41 Derivatives – natural gas supply contracts 117 141 — — Nuclear deferral 107 133 40 46 Manufactured gas plant (MGP) 102 99 — — Deferred pipeline integrity costs 79 65 — — NCEMPA deferrals 72 50 72 50 East Bend deferrals 44 47 — — Transmission expansion obligation 36 39 — — Amounts due from customers 36 24 — — Grid modernization 28 31 — — Other 896 784 349 322 Total regulatory assets 15,018 15,622 7,292 7,701 Less: current portion 1,796 2,005 946 1,137 Total noncurrent regulatory assets $ 13,222 $ 13,617 $ 6,346 $ 6,564 Regulatory Liabilities Net regulatory liability related to income taxes $ 7,872 $ 8,058 $ 2,595 $ 2,710 Costs of removal 5,756 5,421 2,561 2,135 AROs – nuclear and other 1,100 538 — — Accrued pension and OPEB 176 301 — 149 Amounts to be refunded to customers 34 34 — — Deferred fuel and purchased power 1 16 1 16 Other 1,109 1,064 398 319 Total regulatory liabilities 16,048 15,432 5,555 5,329 Less: current portion 784 598 330 280 Total noncurrent regulatory liabilities $ 15,264 $ 14,834 $ 5,225 $ 5,049 |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant. Duke Energy Progress Energy December 31, December 31, (in millions) 2019 2018 2019 2018 Regulatory Assets AROs – coal ash $ 4,084 $ 4,255 $ 1,843 $ 2,061 AROs – nuclear and other 739 772 668 601 Accrued pension and OPEB 2,391 2,654 897 1,074 Storm cost deferrals 1,399 1,117 1,214 953 Nuclear asset securitized balance, net 1,042 1,093 1,042 1,093 Debt fair value adjustment 1,019 1,099 — — Deferred fuel and purchased power 528 838 305 600 Deferred asset – Lee and Harris COLA 388 426 38 43 Hedge costs deferrals 356 204 129 74 Demand side management (DSM)/Energy Efficiency (EE) 343 449 241 256 Advanced metering infrastructure (AMI) 338 367 114 127 Retired generation facilities 331 402 266 324 Post-in-service carrying costs (PISCC) and deferred operating expenses 329 320 33 36 Vacation accrual 214 213 41 41 Derivatives – natural gas supply contracts 117 141 — — Nuclear deferral 107 133 40 46 Manufactured gas plant (MGP) 102 99 — — Deferred pipeline integrity costs 79 65 — — NCEMPA deferrals 72 50 72 50 East Bend deferrals 44 47 — — Transmission expansion obligation 36 39 — — Amounts due from customers 36 24 — — Grid modernization 28 31 — — Other 896 784 349 322 Total regulatory assets 15,018 15,622 7,292 7,701 Less: current portion 1,796 2,005 946 1,137 Total noncurrent regulatory assets $ 13,222 $ 13,617 $ 6,346 $ 6,564 Regulatory Liabilities Net regulatory liability related to income taxes $ 7,872 $ 8,058 $ 2,595 $ 2,710 Costs of removal 5,756 5,421 2,561 2,135 AROs – nuclear and other 1,100 538 — — Accrued pension and OPEB 176 301 — 149 Amounts to be refunded to customers 34 34 — — Deferred fuel and purchased power 1 16 1 16 Other 1,109 1,064 398 319 Total regulatory liabilities 16,048 15,432 5,555 5,329 Less: current portion 784 598 330 280 Total noncurrent regulatory liabilities $ 15,264 $ 14,834 $ 5,225 $ 5,049 |
Duke Energy Carolinas | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 1,696 $ 1,725 (i) (b) Accrued pension and OPEB 477 581 (j) Storm cost deferrals 178 160 Yes (b) Deferred fuel and purchased power 222 196 (f) 2021 Deferred asset – Lee COLA 350 383 (b) Hedge costs deferrals (c) 198 101 Yes 2041 DSM/EE 100 169 (h) (h) AMI 166 176 Yes (b) Retired generation facilities (c) 16 21 Yes 2023 PISCC (c) 33 34 Yes (b) Vacation accrual 80 78 (e) 2020 Nuclear deferral 67 87 2021 Other 327 266 (b) Total regulatory assets 3,910 3,977 Less: current portion 550 520 Total noncurrent regulatory assets $ 3,360 $ 3,457 Regulatory Liabilities (a) Net regulatory liability related to income taxes (d) $ 3,060 $ 3,082 (b) Costs of removal (c) 1,936 1,968 Yes (g) AROs – nuclear and other 1,100 538 (b) Accrued pension and OPEB 39 38 (j) Other 543 572 (b) Total regulatory liabilities 6,678 6,198 Less: current portion 255 199 Total noncurrent regulatory liabilities $ 6,423 $ 5,999 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24 . (e) Earns a return on outstanding balance in North Carolina. (f) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (g) Recovered over the life of the associated assets. (h) Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism. (i) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (j) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 1,696 $ 1,725 (i) (b) Accrued pension and OPEB 477 581 (j) Storm cost deferrals 178 160 Yes (b) Deferred fuel and purchased power 222 196 (f) 2021 Deferred asset – Lee COLA 350 383 (b) Hedge costs deferrals (c) 198 101 Yes 2041 DSM/EE 100 169 (h) (h) AMI 166 176 Yes (b) Retired generation facilities (c) 16 21 Yes 2023 PISCC (c) 33 34 Yes (b) Vacation accrual 80 78 (e) 2020 Nuclear deferral 67 87 2021 Other 327 266 (b) Total regulatory assets 3,910 3,977 Less: current portion 550 520 Total noncurrent regulatory assets $ 3,360 $ 3,457 Regulatory Liabilities (a) Net regulatory liability related to income taxes (d) $ 3,060 $ 3,082 (b) Costs of removal (c) 1,936 1,968 Yes (g) AROs – nuclear and other 1,100 538 (b) Accrued pension and OPEB 39 38 (j) Other 543 572 (b) Total regulatory liabilities 6,678 6,198 Less: current portion 255 199 Total noncurrent regulatory liabilities $ 6,423 $ 5,999 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24 . (e) Earns a return on outstanding balance in North Carolina. (f) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (g) Recovered over the life of the associated assets. (h) Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism. (i) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (j) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Duke Energy Progress | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 1,834 $ 2,051 (h) (b) AROs – nuclear and other 509 429 (c) Accrued pension and OPEB 423 542 (k) Storm cost deferrals (d) 801 571 Yes (b) Deferred fuel and purchased power 266 397 (f) 2021 Deferred asset – Harris COLA 38 43 Hedge costs deferrals 85 54 (b) DSM/EE (e) 216 235 (i) (i) AMI 61 67 (b) Retired generation facilities 83 105 Yes (b) PISCC and deferred operating expenses 33 36 Yes 2054 Vacation accrual 41 41 2020 Nuclear deferral 40 46 2021 NCEMPA deferrals 72 50 (g) 2042 Other 176 147 (b) Total regulatory assets 4,678 4,814 Less: current portion 526 703 Total noncurrent regulatory assets $ 4,152 $ 4,111 Regulatory Liabilities (a) Net regulatory liability related to income taxes (l) $ 1,802 $ 1,863 (b) Costs of removal 2,294 1,878 Yes (j) Accrued pension and OPEB — 93 (k) Other 372 299 (b) Total regulatory liabilities 4,468 4,133 Less: current portion 236 178 Total noncurrent regulatory liabilities $ 4,232 $ 3,955 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit. (d) South Carolina storm costs are included in rate base. (e) Included in rate base. (f) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (g) South Carolina retail allocated costs are earning a return. (h) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (i) Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism. (j) Recovered over the life of the associated assets. (k) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (l) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 23. |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 1,834 $ 2,051 (h) (b) AROs – nuclear and other 509 429 (c) Accrued pension and OPEB 423 542 (k) Storm cost deferrals (d) 801 571 Yes (b) Deferred fuel and purchased power 266 397 (f) 2021 Deferred asset – Harris COLA 38 43 Hedge costs deferrals 85 54 (b) DSM/EE (e) 216 235 (i) (i) AMI 61 67 (b) Retired generation facilities 83 105 Yes (b) PISCC and deferred operating expenses 33 36 Yes 2054 Vacation accrual 41 41 2020 Nuclear deferral 40 46 2021 NCEMPA deferrals 72 50 (g) 2042 Other 176 147 (b) Total regulatory assets 4,678 4,814 Less: current portion 526 703 Total noncurrent regulatory assets $ 4,152 $ 4,111 Regulatory Liabilities (a) Net regulatory liability related to income taxes (l) $ 1,802 $ 1,863 (b) Costs of removal 2,294 1,878 Yes (j) Accrued pension and OPEB — 93 (k) Other 372 299 (b) Total regulatory liabilities 4,468 4,133 Less: current portion 236 178 Total noncurrent regulatory liabilities $ 4,232 $ 3,955 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit. (d) South Carolina storm costs are included in rate base. (e) Included in rate base. (f) Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. (g) South Carolina retail allocated costs are earning a return. (h) Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders. (i) Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism. (j) Recovered over the life of the associated assets. (k) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. (l) Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 23. |
Duke Energy Florida | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash (c) $ 9 $ 10 (b) AROs – nuclear and other (c) 159 172 (b) Accrued pension and OPEB (c) 474 532 Yes (g) Storm cost deferrals (c) 413 382 (e) 2021 Nuclear asset securitized balance, net 1,042 1,093 2036 Deferred fuel and purchased power 39 203 (f) 2021 Hedge costs deferrals 44 20 2038 DSM/EE (c) 25 21 Yes 2024 AMI (c) 53 60 Yes 2032 Retired generation facilities (c) 183 219 Yes (b) Other 172 176 (d) (b) Total regulatory assets 2,613 2,888 Less: current portion 419 434 Total noncurrent regulatory assets $ 2,194 $ 2,454 Regulatory Liabilities (a) Net regulatory liability related to income taxes (c) $ 793 $ 847 (b) Costs of removal (c) 267 257 (d) (b) Accrued pension and OPEB — 56 Yes (g) Deferred fuel and purchased power (c) 1 16 (f) 2021 Other 26 20 (d) (b) Total regulatory liabilities 1,087 1,196 Less: current portion 94 102 Total noncurrent regulatory liabilities $ 993 $ 1,094 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Certain costs earn/pay a return. (e) Earns a debt return/interest once collections begin. (f) Earns commercial paper rate. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash (c) $ 9 $ 10 (b) AROs – nuclear and other (c) 159 172 (b) Accrued pension and OPEB (c) 474 532 Yes (g) Storm cost deferrals (c) 413 382 (e) 2021 Nuclear asset securitized balance, net 1,042 1,093 2036 Deferred fuel and purchased power 39 203 (f) 2021 Hedge costs deferrals 44 20 2038 DSM/EE (c) 25 21 Yes 2024 AMI (c) 53 60 Yes 2032 Retired generation facilities (c) 183 219 Yes (b) Other 172 176 (d) (b) Total regulatory assets 2,613 2,888 Less: current portion 419 434 Total noncurrent regulatory assets $ 2,194 $ 2,454 Regulatory Liabilities (a) Net regulatory liability related to income taxes (c) $ 793 $ 847 (b) Costs of removal (c) 267 257 (d) (b) Accrued pension and OPEB — 56 Yes (g) Deferred fuel and purchased power (c) 1 16 (f) 2021 Other 26 20 (d) (b) Total regulatory liabilities 1,087 1,196 Less: current portion 94 102 Total noncurrent regulatory liabilities $ 993 $ 1,094 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Certain costs earn/pay a return. (e) Earns a debt return/interest once collections begin. (f) Earns commercial paper rate. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Duke Energy Ohio | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 16 $ 20 Yes (b) Accrued pension and OPEB 155 146 (g) Storm cost deferrals 7 4 2023 Deferred fuel and purchased power 1 2 2020 Hedge costs deferrals 6 5 (b) DSM/EE 2 10 (f) (e) AMI 40 46 (b) PISCC and deferred operating expenses (c) 17 17 Yes 2083 Vacation accrual 5 5 2020 MGP 102 99 (b) Deferred pipeline integrity costs 17 14 Yes (b) East Bend deferrals 44 47 Yes (b) Transmission expansion obligation 40 43 (e) Grid modernization 28 31 Yes (b) (c) Other 118 75 (b) Total regulatory assets 598 564 Less: current portion 49 33 Total noncurrent regulatory assets $ 549 $ 531 Regulatory Liabilities (a) Net regulatory liability related to income taxes $ 654 $ 678 (b) Costs of removal 86 126 (d) Accrued pension and OPEB 16 18 (g) Other 71 75 (b) Total regulatory liabilities 827 897 Less: current portion 64 57 Total noncurrent regulatory liabilities $ 763 $ 840 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Recovered via a rider mechanism. (f) Includes incentives on DSM/EE investments. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 16 $ 20 Yes (b) Accrued pension and OPEB 155 146 (g) Storm cost deferrals 7 4 2023 Deferred fuel and purchased power 1 2 2020 Hedge costs deferrals 6 5 (b) DSM/EE 2 10 (f) (e) AMI 40 46 (b) PISCC and deferred operating expenses (c) 17 17 Yes 2083 Vacation accrual 5 5 2020 MGP 102 99 (b) Deferred pipeline integrity costs 17 14 Yes (b) East Bend deferrals 44 47 Yes (b) Transmission expansion obligation 40 43 (e) Grid modernization 28 31 Yes (b) (c) Other 118 75 (b) Total regulatory assets 598 564 Less: current portion 49 33 Total noncurrent regulatory assets $ 549 $ 531 Regulatory Liabilities (a) Net regulatory liability related to income taxes $ 654 $ 678 (b) Costs of removal 86 126 (d) Accrued pension and OPEB 16 18 (g) Other 71 75 (b) Total regulatory liabilities 827 897 Less: current portion 64 57 Total noncurrent regulatory liabilities $ 763 $ 840 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Recovered via a rider mechanism. (f) Includes incentives on DSM/EE investments. (g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Schedule of MISO Exit Fee Obligations | The following table provides a reconciliation of the beginning and ending balance of Duke Energy Ohio’s recorded liability for its exit obligation and share of MTEP costs recorded in Other within Current Liabilities and Other Noncurrent Liabilities on the Consolidated Balance Sheets. The retail portions of MTEP costs billed by MISO are recovered by Duke Energy Ohio through a non-bypassable rider. As of December 31, 2019, and 2018, $40 million and $43 million , respectively, are recorded in Regulatory assets on Duke Energy Ohio's Consolidated Balance Sheets. Provisions/ Cash (in millions) December 31, 2018 Adjustments Reductions December 31, 2019 Duke Energy Ohio $ 58 $ — $ (4 ) $ 54 |
Duke Energy Indiana | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 529 $ 450 (b) Accrued pension and OPEB 243 222 (f) Deferred fuel and purchased power — 40 2020 Hedge costs deferrals 23 24 (b) DSM/EE — 14 (e) (e) AMI (c) 18 18 Yes (b) Retired generation facilities (c) 49 57 Yes 2026 PISCC and deferred operating expenses (c) 246 233 Yes (b) Vacation accrual 12 11 2020 Other 52 88 (b) Total regulatory assets 1,172 1,157 Less: current portion 90 175 Total noncurrent regulatory assets $ 1,082 $ 982 Regulatory Liabilities (a) Net regulatory liability related to income taxes $ 1,008 $ 1,009 (b) Costs of removal 599 628 (d) Accrued pension and OPEB 90 67 (f) Amounts to be refunded to customers — 1 2020 Other 43 42 (b) Total regulatory liabilities 1,740 1,747 Less: current portion 55 25 Total noncurrent regulatory liabilities $ 1,685 $ 1,722 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Refunded over the life of the associated assets. (e) Includes incentives on DSM/EE investments and is recovered through a tracker mechanism over a two-year period. (f) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – coal ash $ 529 $ 450 (b) Accrued pension and OPEB 243 222 (f) Deferred fuel and purchased power — 40 2020 Hedge costs deferrals 23 24 (b) DSM/EE — 14 (e) (e) AMI (c) 18 18 Yes (b) Retired generation facilities (c) 49 57 Yes 2026 PISCC and deferred operating expenses (c) 246 233 Yes (b) Vacation accrual 12 11 2020 Other 52 88 (b) Total regulatory assets 1,172 1,157 Less: current portion 90 175 Total noncurrent regulatory assets $ 1,082 $ 982 Regulatory Liabilities (a) Net regulatory liability related to income taxes $ 1,008 $ 1,009 (b) Costs of removal 599 628 (d) Accrued pension and OPEB 90 67 (f) Amounts to be refunded to customers — 1 2020 Other 43 42 (b) Total regulatory liabilities 1,740 1,747 Less: current portion 55 25 Total noncurrent regulatory liabilities $ 1,685 $ 1,722 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Refunded over the life of the associated assets. (e) Includes incentives on DSM/EE investments and is recovered through a tracker mechanism over a two-year period. (f) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Piedmont | |
Public Utilities, General Disclosures [Line Items] | |
Schedule of Regulatory Assets | The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – nuclear and other 16 19 (d) Accrued pension and OPEB (c) 90 99 Yes (f) Vacation accrual 12 12 Derivatives – natural gas supply contracts (e) 117 141 Deferred pipeline integrity costs (c) 62 51 Yes (b) Amounts due from customers 36 24 Yes (b) Other 30 11 (b) Total regulatory assets 363 357 Less: current portion 73 54 Total noncurrent regulatory assets $ 290 $ 303 Regulatory Liabilities (a) Net regulatory liability related to income taxes $ 555 $ 579 (b) Costs of removal 574 564 (d) Accrued pension and OPEB (c) 3 1 Yes (f) Amounts to be refunded to customers 34 33 Yes (b) Other 46 41 (b) Total regulatory liabilities 1,212 1,218 Less: current portion 81 37 Total noncurrent regulatory liabilities $ 1,131 $ 1,181 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Balance will fluctuate with changes in the market. Current contracts extend into 2031. (f) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Schedule Of Regulatory Liabilities | The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets. December 31, Earns/Pays Recovery/Refund (in millions) 2019 2018 a Return Period Ends Regulatory Assets (a) AROs – nuclear and other 16 19 (d) Accrued pension and OPEB (c) 90 99 Yes (f) Vacation accrual 12 12 Derivatives – natural gas supply contracts (e) 117 141 Deferred pipeline integrity costs (c) 62 51 Yes (b) Amounts due from customers 36 24 Yes (b) Other 30 11 (b) Total regulatory assets 363 357 Less: current portion 73 54 Total noncurrent regulatory assets $ 290 $ 303 Regulatory Liabilities (a) Net regulatory liability related to income taxes $ 555 $ 579 (b) Costs of removal 574 564 (d) Accrued pension and OPEB (c) 3 1 Yes (f) Amounts to be refunded to customers 34 33 Yes (b) Other 46 41 (b) Total regulatory liabilities 1,212 1,218 Less: current portion 81 37 Total noncurrent regulatory liabilities $ 1,131 $ 1,181 (a) Regulatory assets and liabilities are excluded from rate base unless otherwise noted. (b) The expected recovery or refund period varies or has not been determined. (c) Included in rate base. (d) Recovery over the life of the associated assets. (e) Balance will fluctuate with changes in the market. Current contracts extend into 2031. (f) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
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 Accounts payable within Current Liabilities and Other within Other Noncurrent 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 Piedmont Balance at December 31, 2016 $ 98 $ 10 $ 18 $ 3 $ 14 $ 59 $ 10 $ 1 Provisions/adjustments 8 3 3 2 2 3 (4 ) 1 Cash reductions (25 ) (3 ) (6 ) (2 ) (4 ) (15 ) (1 ) — Balance at December 31, 2017 81 10 15 3 12 47 5 2 Provisions/adjustments 26 3 2 3 (2 ) 21 1 1 Cash reductions (30 ) (2 ) (6 ) (2 ) (4 ) (20 ) (1 ) (1 ) Balance at December 31, 2018 77 11 11 4 6 48 5 2 Provisions/adjustments 33 6 9 2 5 11 — 7 Cash reductions (52 ) (6 ) (4 ) (2 ) (2 ) (40 ) (1 ) (1 ) Balance at December 31, 2019 $ 58 $ 11 $ 16 $ 4 $ 9 $ 19 $ 4 $ 8 The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters, excluding asbestos-related reserves. Reserves are classified on the Consolidated Balance Sheets in Other within Other Noncurrent Liabilities 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) 2019 2018 Reserves for Legal Matters Duke Energy $ 62 $ 65 Duke Energy Carolinas 2 9 Progress Energy 55 54 Duke Energy Progress 12 12 Duke Energy Florida 22 24 Piedmont 1 1 |
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 $ 59 Duke Energy Carolinas 11 Duke Energy Ohio 42 Piedmont 2 |
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, 2019 Contract (in millions) Expiration 2020 2021 2022 2023 2024 Thereafter Total Duke Energy Progress (a) 2021-2032 $ 46 $ 66 $ 63 $ 55 $ 56 $ 123 $ 409 Duke Energy Florida (b) 2021-2025 374 356 354 374 262 91 1,811 Duke Energy Ohio (c)(d) 2021-2022 132 107 32 — — — 271 (a) Contracts represent either 100% of net plant output or vary. (b) Contracts represent between 81% and 100% of net plant output. (c) Contracts represent between 1% and 9% of net plant output. (d) Excludes PPA with OVEC. See Note 18 for additional information. |
Schedule of Natural Gas Supply Contract Commitments | The following table presents future unconditional purchase obligations under natural gas supply and capacity contracts as of December 31, 2019 . (in millions) Duke Energy Duke Energy Ohio Piedmont 2020 $ 297 $ 39 $ 258 2021 280 33 247 2022 225 14 211 2023 129 3 126 2024 118 — 118 Thereafter 714 — 714 Total $ 1,763 $ 89 $ 1,674 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Balance Sheet Amounts Recorded for Operating and Finance Leases | Adoption of the new standard resulted in the recording of ROU assets and operating lease liabilities as follows: As of January 1, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont ROU assets $ 1,750 $ 153 $ 863 $ 407 $ 456 $ 23 $ 61 $ 26 Operating lease liabilities – current 205 28 96 35 61 1 4 4 Operating lease liabilities – noncurrent 1,504 127 766 371 395 22 58 25 The following tables contain additional information related to leases. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Classification Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Assets Operating Operating lease ROU assets, net $ 1,658 $ 123 $ 788 $ 387 $ 401 $ 21 $ 57 $ 24 Finance Net property, plant and equipment 926 198 443 308 135 — 7 — Total lease assets $ 2,584 $ 321 $ 1,231 $ 695 $ 536 $ 21 $ 64 $ 24 Liabilities Current Operating Other current liabilities $ 208 $ 27 $ 95 $ 37 $ 58 $ 1 $ 3 $ 4 Finance Current maturities of long-term debt 119 7 24 6 18 — — — Noncurrent Operating Operating lease liabilities 1,432 102 697 354 343 21 55 23 Finance Long-Term Debt 850 172 381 301 80 — 10 — Total lease liabilities $ 2,609 $ 308 $ 1,197 $ 698 $ 499 $ 22 $ 68 $ 27 |
Lease Costs and Cash Flows Information | Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Cash paid for amounts included in the measurement of lease liabilities (a) Operating cash flows from operating leases $ 285 $ 34 $ 131 $ 53 $ 78 $ 2 $ 7 $ 7 Operating cash flows from finance leases 61 15 42 33 9 — 1 — Financing cash flows from finance leases 111 6 21 5 16 1 — — Lease assets obtained in exchange for new lease liabilities (non-cash) Operating (b) $ 194 $ 44 $ 30 $ 30 $ — $ — $ — $ 1 Finance 251 76 175 175 — — — — (a) No amounts were classified as investing cash flows from operating leases for the year ended December 31, 2019 . (b) Does not include ROU assets recorded as a result of the adoption of the new lease standard. The following table presents the components of lease expense. Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Operating lease expense (a) $ 292 $ 47 $ 161 $ 69 $ 92 $ 11 $ 20 $ 5 Short-term lease expense (a) 16 5 9 4 5 1 2 — Variable lease expense (a) 47 22 22 16 6 — 1 1 Finance lease expense Amortization of leased assets (b) 111 6 21 5 16 1 — — Interest on lease liabilities (c) 61 15 42 33 9 — 1 — Total finance lease expense 172 21 63 38 25 1 1 — Total lease expense $ 527 $ 95 $ 255 $ 127 $ 128 $ 13 $ 24 $ 6 (a) Included in Operations, maintenance and other or, for barges and railcars, Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. (b) Included in Depreciation and amortization on the Consolidated Statements of Operations. (c) Included in Interest Expense on the Consolidated Statements of Operations. |
Schedule of Rent Expense | The following table presents rental expense for operating leases, as reported under the former lease standard. These amounts are included in Operation, maintenance and other and Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. Years Ended December 31, (in millions) 2018 2017 Duke Energy $ 268 $ 241 Duke Energy Carolinas 49 44 Progress Energy 143 130 Duke Energy Progress 75 75 Duke Energy Florida 68 55 Duke Energy Ohio 13 15 Duke Energy Indiana 21 23 Piedmont 11 7 |
Operating Lease Maturities | The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 2020 $ 268 $ 31 $ 123 $ 51 $ 72 $ 2 $ 5 $ 5 2021 216 19 99 44 55 2 4 5 2022 201 19 95 40 55 2 4 5 2023 191 17 95 41 54 2 4 5 2024 176 13 95 41 54 2 4 5 Thereafter 984 57 462 283 179 21 64 5 Total operating lease payments 2,036 156 969 500 469 31 85 30 Less: present value discount (396 ) (27 ) (177 ) (109 ) (68 ) (9 ) (27 ) (3 ) Total operating lease liabilities (a) $ 1,640 $ 129 $ 792 $ 391 $ 401 $ 22 $ 58 $ 27 (a) Certain operating lease payments include renewal options that are reasonably certain to be exercised. |
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 noncancelable term of more than one year, as reported under the former lease standard. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 2019 $ 239 $ 33 $ 97 $ 49 $ 48 $ 2 $ 6 $ 5 2020 219 29 90 46 44 2 5 5 2021 186 19 79 37 42 2 4 5 2022 170 19 76 34 42 2 4 5 2023 160 17 77 35 42 2 5 6 Thereafter 1,017 68 455 314 141 23 66 11 Total $ 1,991 $ 185 $ 874 $ 515 $ 359 $ 33 $ 90 $ 37 |
Maturities of Finance Lease Liabilities | The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities. December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana 2020 $ 181 $ 28 $ 69 $ 44 $ 25 $ 1 2021 186 23 69 44 25 1 2022 173 23 69 44 25 1 2023 175 23 69 44 25 1 2024 121 23 55 44 11 1 Thereafter 823 314 539 528 11 27 Total finance lease payments 1,659 434 870 748 122 32 Less: amounts representing interest (690 ) (255 ) (465 ) (441 ) (24 ) (22 ) Total finance lease liabilities $ 969 $ 179 $ 405 $ 307 $ 98 $ 10 |
Schedule of Future Minimum Lease Payments for Capital Leases | The following table presents future minimum lease payments under finance leases, as reported under the former lease standard. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana 2019 $ 170 $ 20 $ 45 $ 20 $ 25 $ 2 $ 1 2020 174 20 46 21 25 — 1 2021 177 15 45 20 25 — 1 2022 165 15 45 21 24 — 1 2023 165 15 45 21 24 — 1 Thereafter 577 204 230 209 21 — 27 Minimum annual payments 1,428 289 456 312 144 2 32 Less: amount representing interest (487 ) (180 ) (205 ) (175 ) (30 ) — (22 ) Total $ 941 $ 109 $ 251 $ 137 $ 114 $ 2 $ 10 |
Supplemental Lease Information | December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Weighted average remaining lease term (years) Operating leases 11 9 10 12 8 17 18 6 Finance leases 13 19 16 18 11 — 26 — Weighted average discount rate (a) Operating leases 3.9 % 3.5 % 3.8 % 3.9 % 3.8 % 4.2 % 4.1 % 3.6 % Finance leases 8.1 % 11.8 % 11.9 % 12.4 % 8.3 % — % 11.9 % — % (a) The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets. |
Debt and Credit Facilities (Tab
Debt and Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | The following tables summarize outstanding debt. December 31, 2019 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 Piedmont Unsecured debt, maturing 2020-2078 4.02 % $ 22,477 $ 1,150 $ 3,650 $ 700 $ 350 $ 1,110 $ 405 $ 2,399 Secured debt, maturing 2020-2052 3.30 % 4,537 544 1,722 335 1,387 — — — First mortgage bonds, maturing 2020-2049 (a) 4.13 % 27,977 9,557 13,800 7,575 6,225 1,449 3,169 — Finance leases, maturing 2022-2051 (b) 6.60 % 969 179 405 307 98 — 10 — Tax-exempt bonds, maturing 2022-2041 (c) 2.90 % 730 243 48 48 — 77 362 — Notes payable and commercial paper (d) 1.98 % 3,588 — — — — — — — Money pool/intercompany borrowings — 329 1,970 216 — 337 180 476 Fair value hedge carrying value adjustment 5 5 — — — — — — Unamortized debt discount and premium, net (e) 1,294 (23 ) (29 ) (17 ) (11 ) (30 ) (19 ) (2 ) Unamortized debt issuance costs (f) (316 ) (55 ) (111 ) (40 ) (62 ) (12 ) (20 ) (13 ) Total debt 3.92 % $ 61,261 $ 11,929 $ 21,455 $ 9,124 $ 7,987 $ 2,931 $ 4,087 $ 2,860 Short-term notes payable and commercial paper (3,135 ) — — — — — — — Short-term money pool/intercompany borrowings — (29 ) (1,821 ) (66 ) — (312 ) (30 ) (476 ) Current maturities of long-term debt (g) (3,141 ) (458 ) (1,577 ) (1,006 ) (571 ) — (503 ) — Total long-term debt (g) $ 54,985 $ 11,442 $ 18,057 $ 8,052 $ 7,416 $ 2,619 $ 3,554 $ 2,384 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $44 million and $419 million of finance lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility. (d) Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop 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 Duke Energy's commercial paper program was 14 days. (e) Duke Energy includes $1,275 million and $137 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively. (f) Duke Energy includes $37 million in purchase accounting adjustments primarily related to the merger with Progress Energy. (g) Refer to Note 18 for additional information on amounts from consolidated VIEs. December 31, 2018 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 Piedmont Unsecured debt, maturing 2019-2078 4.26 % $ 20,955 $ 1,150 $ 3,800 $ 50 $ 350 $ 1,000 $ 408 $ 2,150 Secured debt, maturing 2020-2037 3.69 % 4,297 450 1,703 300 1,403 — — — First mortgage bonds, maturing 2019-2048 (a) 4.32 % 25,628 8,759 13,100 7,574 5,526 1,099 2,670 — Finance leases, maturing 2019-2051 (b) 5.06 % 941 109 251 137 114 2 10 — Tax-exempt bonds, maturing 2019-2041 (c) 3.40 % 941 243 48 48 — 77 572 — Notes payable and commercial paper (d) 2.73 % 4,035 — — — — — — — Money pool/intercompany borrowings — 739 1,385 444 108 299 317 198 Fair value hedge carrying value adjustment 5 5 — — — — — — Unamortized debt discount and premium, net (e) 1,434 (23 ) (29 ) (15 ) (11 ) (31 ) (8 ) (1 ) Unamortized debt issuance costs (f) (297 ) (54 ) (112 ) (40 ) (61 ) (7 ) (20 ) (11 ) Total debt 4.13 % $ 57,939 $ 11,378 $ 20,146 $ 8,498 $ 7,429 $ 2,439 $ 3,949 $ 2,336 Short-term notes payable and commercial paper (3,410 ) — — — — — — — Short-term money pool/intercompany borrowings — (439 ) (1,235 ) (294 ) (108 ) (274 ) (167 ) (198 ) Current maturities of long-term debt (g) (3,406 ) (6 ) (1,672 ) (603 ) (270 ) (551 ) (63 ) (350 ) Total long-term debt (g) $ 51,123 $ 10,933 $ 17,239 $ 7,601 $ 7,051 $ 1,614 $ 3,719 $ 1,788 (a) Substantially all electric utility property is mortgaged under mortgage bond indentures. (b) Duke Energy includes $63 million and $531 million of finance lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP. (c) Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility. (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 backstop 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 Duke Energy's commercial paper programs was 16 days. (e) Duke Energy includes $1,380 million and $156 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively. (f) Duke Energy includes $41 million in purchase accounting adjustments primarily related to the merger with Progress Energy. (g) Refer to Note 18 for additional information on amounts from consolidated VIEs. December 31, 2019 Duke Duke Duke Duke Duke Energy Energy Energy Energy (in millions) Energy Carolinas Progress Ohio Indiana Tax-exempt bonds $ 312 $ — $ — $ 27 $ 285 Commercial paper (a) 625 300 150 25 150 Total $ 937 $ 300 $ 150 $ 52 $ 435 December 31, 2018 Duke Duke Duke Duke Duke Energy Energy Energy Energy (in millions) Energy Carolinas Progress Ohio Indiana Tax-exempt bonds $ 312 $ — $ — $ 27 $ 285 Commercial paper (a) 625 300 150 25 150 Total $ 937 $ 300 $ 150 $ 52 $ 435 (a) Progress Energy amounts are equal to Duke Energy Progress amounts. 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, 2019 Unsecured Debt Duke Energy (Parent) June 2020 2.100 % $ 330 Duke Energy Progress December 2020 2.510 % (a) 700 First Mortgage Bonds Duke Energy Florida January 2020 1.850 % 250 Duke Energy Florida April 2020 4.550 % 250 Duke Energy Carolinas June 2020 4.300 % 450 Duke Energy Indiana July 2020 3.750 % 500 Duke Energy Progress September 2020 2.065 % (a) 300 Other (b) 361 Current maturities of long-term debt $ 3,141 (a) Debt has a floating interest rate. (b) Includes finance lease obligations, amortizing debt and small bullet maturities. |
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, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy (a) Carolinas Energy Progress Florida Ohio Indiana Piedmont 2020 $ 3,141 $ 458 $ 1,578 $ 1,006 $ 572 — $ 503 $ — 2021 5,053 504 2,257 932 825 50 70 160 2022 4,334 830 1,048 508 90 — 94 — 2023 3,112 1,006 398 319 79 325 3 45 2024 1,965 306 227 160 67 25 154 40 Thereafter 39,542 8,875 14,267 6,190 6,427 2,261 3,272 2,155 Total long-term debt, including current maturities $ 57,147 $ 11,979 $ 19,775 $ 9,115 $ 8,060 $ 2,661 $ 4,096 $ 2,400 (a) Excludes $1,448 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition. |
Schedule of Long-term Debt Instruments | The following tables summarize significant debt issuances (in millions). Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Maturity Interest Duke Energy Energy Energy Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Unsecured Debt March 2019 (a) Mar 2022 2.538 % (b) $ 300 $ 300 $ — $ — $ — $ — $ — $ — March 2019 (a) Mar 2022 3.227 % 300 300 — — — — — — May 2019 (e) Jun 2029 3.500 % 600 — — — — — — 600 June 2019 (a) Jun 2029 3.400 % 600 600 — — — — — — June 2019 (a) Jun 2049 4.200 % 600 600 — — — — — — July 2019 (g) Jul 2049 4.320 % 40 — — — — 40 — — September 2019 (g) Oct 2025 3.230 % 95 — — — — 95 — — September 2019 (g) Oct 2029 3.560 % 75 — — — — 75 — — November 2019 (h) Nov 2021 2.167 % (b) 200 — — — 200 — — — First Mortgage Bonds January 2019 (c) Feb 2029 3.650 % 400 — — — — 400 — — January 2019 (c) Feb 2049 4.300 % 400 — — — — 400 — — March 2019 (d) Mar 2029 3.450 % 600 — — 600 — — — — August 2019 (a) Aug 2029 2.450 % 450 — 450 — — — — — August 2019 (a) Aug 2049 3.200 % 350 — 350 — — — — — September 2019 (f) Oct 2049 3.250 % 500 — — — — — 500 — November 2019 (i) Dec 2029 2.500 % 700 — — — 700 — — — Total issuances $ 6,210 $ 1,800 $ 800 $ 600 $ 900 $ 1,010 $ 500 $ 600 (a) Debt issued to pay down short-term debt and for general corporate purposes. (b) Debt issuance has a floating interest rate. (c) Debt issued to repay at maturity $450 million first mortgage bonds due April 2019, pay down short-term debt and for general corporate purposes. (d) Debt issued to fund eligible green energy projects in the Carolinas. (e) Debt issued to repay in full the outstanding $350 million Piedmont unsecured term loan due September 2019, pay down short-term debt and for general corporate purposes. (f) Debt issued to retire $150 million of pollution control bonds, pay down short-term debt and for general corporate purposes. (g) Debt issued to repay at maturity $100 million debentures due October 2019, pay down short-term debt and for general corporate purposes. (h) Debt issued to fund storm restoration costs and for general corporate purposes. (i) Debt issued to reimburse the payment of existing and new Eligible Green Expenditures in Florida. In January 2020, Duke Energy Carolinas closed and funded $900 million of first mortgage bonds of which $500 million carry a fixed interest rate of 2.45% and mature February 2030 and $400 million carry a fixed interest rate of 3.20% and mature August 2049. The proceeds will be used to repay at maturity $450 million , 4.30% debentures maturing June 2020, and for general corporate purposes. Year Ended December 31, 2018 Duke Duke Duke Duke Maturity Interest Duke Energy Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Progress Florida Unsecured Debt March 2018 (a) April 2025 3.950 % $ 250 $ 250 $ — $ — $ — May 2018 (b) May 2021 3.114 % 500 500 — — — September 2018 (c) September 2078 5.625 % 500 500 — — — First Mortgage Bonds March 2018 (d) March 2023 3.050 % 500 — 500 — — March 2018 (d) March 2048 3.950 % 500 — 500 — — June 2018 (e) July 2028 3.800 % 600 — — — 600 June 2018 (e) July 2048 4.200 % 400 — — — 400 August 2018 (f) September 2023 3.375 % 300 — — 300 — August 2018 (f) September 2028 3.700 % 500 — — 500 — November 2018 (g) May 2022 3.350 % 350 — 350 — — November 2018 (g) November 2028 3.950 % 650 — 650 — — Total issuances $ 5,050 $ 1,250 $ 2,000 $ 800 $ 1,000 (a) Debt issued to pay down short-term debt. (b) Debt issued to pay down short-term debt. Debt issuance has a floating debt rate. (c) Callable after September 2023 at par. Junior subordinated hybrid debt issued to pay down short-term debt and for general corporate purposes. (d) Debt issued to repay at maturity a $300 million first mortgage bond due April 2018, pay down intercompany short-term debt and for general corporate purposes. (e) Debt issued to repay a portion of intercompany short-term debt under the money pool borrowing arrangement and for general corporate purposes. (f) Debt issued to repay short-term debt and for general corporate purposes. (g) Debt issued to fund eligible green energy projects, including zero-carbon solar and energy storage, in the Carolinas. |
Schedule Of Line Of Credit Facilities | The table below includes the current borrowing sublimits and available capacity under these credit facilities. December 31, 2019 Duke Duke Duke Duke Duke Duke Duke Energy Energy Energy Energy Energy Energy (in millions) Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Facility size (a) $ 8,000 $ 2,650 $ 1,500 $ 1,250 $ 800 $ 600 $ 600 $ 600 Reduction to backstop issuances Commercial paper (b) (2,537 ) (1,119 ) (325 ) (207 ) — (296 ) (176 ) (414 ) Outstanding letters of credit (50 ) (42 ) (4 ) (2 ) — — — (2 ) Tax-exempt bonds (81 ) — — — — — (81 ) — Coal ash set-aside (500 ) — (250 ) (250 ) — — — — Available capacity $ 4,832 $ 1,489 $ 921 $ 791 $ 800 $ 304 $ 343 $ 184 (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. |
Joint Ownership of Generating_2
Joint Ownership of Generating and Transmission Facilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Joint Ownership Of Generating And Transmission Facilities [Abstract] | |
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 Electric Utilities and Infrastructure segment. December 31, 2019 Construction Ownership Property, Plant Accumulated Work in (in millions except for ownership interest) Interest and Equipment Depreciation Progress Duke Energy Carolinas Catawba (units 1 and 2) (a) 19.25 % $ 1,011 $ 510 $ 21 W.S. Lee CC (b) 87.27 % 609 32 1 Duke Energy Indiana Gibson (unit 5) (c) 50.05 % 410 183 3 Vermillion (d) 62.50 % 172 119 — Transmission and local facilities (c) Various 5,421 1,436 172 (a) Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and PMPA. (b) Jointly owned with NCEMC. (c) Jointly owned with WVPA and IMPA. (d) Jointly owned with WVPA. |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Schedule of Asset Retirement Obligations by Category | The following table presents the AROs recorded on the Consolidated Balance Sheets. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Decommissioning of nuclear power facilities (a) $ 6,633 $ 2,551 $ 4,028 $ 3,499 $ 529 $ — $ — $ — Closure of ash impoundments 6,333 3,118 2,368 2,352 16 41 805 — Other 352 65 75 42 33 39 27 17 Total asset retirement obligation $ 13,318 $ 5,734 $ 6,471 $ 5,893 $ 578 $ 80 $ 832 $ 17 Less: current portion 881 206 485 485 — 1 189 — Total noncurrent asset retirement obligation $ 12,437 $ 5,528 $ 5,986 $ 5,408 $ 578 $ 79 $ 643 $ 17 (a) Duke Energy amount includes purchase accounting adjustments related to the merger with Progress Energy. |
Public Utilities General Disclosures | The following table includes the current expiration of nuclear operating licenses. 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 The following table presents the fair value of NDTF assets legally restricted for purposes of settling AROs associated with nuclear decommissioning. Duke Energy Florida is actively decommissioning Crystal River Unit 3 and was granted an exemption from the NRC, which allows for use of the NDTF for all aspects of nuclear decommissioning. The entire balance of Duke Energy Florida's NDTF may be applied toward license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3 and is excluded from the table below. See Note 17 for additional information related to the fair value of the Duke Energy Registrants' NDTFs. December 31, (in millions) 2019 2018 Duke Energy $ 6,766 $ 5,579 Duke Energy Carolinas 3,837 3,133 Duke Energy Progress 2,929 2,446 The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs are stated in 2018 or 2019 dollars, depending on 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) Year of Cost Study Duke Energy $ 24 $ 9,152 2018 and 2019 Duke Energy Carolinas (b)(c) — 4,365 2018 Duke Energy Progress (d) 24 4,181 2019 Duke Energy Florida (e) — 606 2019 (a) Amounts for Progress Energy equal the sum of Duke Energy Progress and Duke Energy Florida. (b) Decommissioning cost for Duke Energy Carolinas reflects its ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. (c) Duke Energy Carolinas' site-specific nuclear decommissioning cost study completed in 2018 was filed with the NCUC and PSCSC in 2019. A new funding study was also completed and filed with the NCUC and PSCSC in 2019. (d) Duke Energy Progress' site-specific nuclear decommissioning cost study completed in 2019 is expected to be filed with the NCUC and PSCSC during the first quarter 2020. Duke Energy Progress will also complete a new funding study, which will be completed and filed with the NCUC and PSCSC in July 2020. (e) |
Rollforward Schedule of Asset Retirement Obligations | The following tables present 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 Piedmont Balance at December 31, 2017 $ 10,175 $ 3,610 $ 5,414 $ 4,673 $ 742 $ 84 $ 781 $ 15 Accretion expense (a) 427 179 225 196 29 4 29 1 Liabilities settled (b) (638 ) (281 ) (272 ) (227 ) (45 ) (5 ) (79 ) — Liabilities incurred in the current year (c) 39 8 5 — 5 — 25 — Revisions in estimates of cash flows 464 433 39 178 (140 ) 10 (34 ) 3 Balance at December 31, 2018 10,467 3,949 5,411 4,820 591 93 722 19 Accretion expense (a) 508 235 252 227 25 3 28 1 Liabilities settled (b) (895 ) (329 ) (499 ) (460 ) (39 ) (12 ) (54 ) — Liabilities incurred in the current year 25 18 7 — 7 — — — Revisions in estimates of cash flows (d) 3,213 1,861 1,300 1,306 (6 ) (4 ) 136 (3 ) Balance at December 31, 2019 $ 13,318 $ 5,734 $ 6,471 $ 5,893 $ 578 $ 80 $ 832 $ 17 (a) Substantially all accretion expense for the years ended December 31, 2019 , and 2018 , relates to Duke Energy’s regulated operations and has been deferred in accordance with regulatory accounting treatment. (b) Amounts primarily relate to ash impoundment closures and nuclear decommissioning of Crystal River Unit 3. (c) Amounts primarily relate to AROs recorded as a result of state agency closure requirements at Duke Energy Indiana. (d) Amounts primarily relate to increases in closure estimates for certain ash impoundments as a result of the NCDEQ's April 1 Order and the related settlement agreement dated December 31, 2019. See Note 5 for more information. The amount recorded in the fourth quarter of 2019 for coal ash closures as a result of the settlement was not material. |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
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, 2019 2018 2017 Duke Energy 3.1 % 3.0 % 2.8 % Duke Energy Carolinas 2.8 % 2.8 % 2.8 % Progress Energy 3.1 % 2.9 % 2.6 % Duke Energy Progress 3.1 % 2.9 % 2.6 % Duke Energy Florida 3.1 % 3.0 % 2.8 % Duke Energy Ohio 2.6 % 2.8 % 2.8 % Duke Energy Indiana 3.3 % 3.3 % 3.0 % Piedmont 2.4 % 2.5 % 2.3 % The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants. December 31, 2019 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 Piedmont Land $ 2,091 $ 520 $ 884 $ 449 $ 435 $ 150 $ 117 $ 388 Plant – Regulated Electric generation, distribution and transmission 15-100 111,739 42,723 48,142 30,018 18,124 5,838 15,032 — Natural gas transmission and distribution 4-73 9,839 — — — — 2,892 — 6,947 Other buildings and improvements 23-90 1,810 714 401 162 239 269 278 148 Plant – Nonregulated Electric generation, distribution and transmission 5-30 5,103 — — — — — — — Other buildings and improvements 25-35 488 — — — — — — — Nuclear fuel 3,253 1,891 1,362 1,362 — — — — Equipment 3-25 2,313 546 665 452 213 319 205 128 Construction in process 6,102 1,389 2,149 1,114 1,035 504 381 531 Other 2-40 4,916 1,139 1,467 1,046 411 269 292 304 Total property, plant and equipment (a)(e) 147,654 48,922 55,070 34,603 20,457 10,241 16,305 8,446 Total accumulated depreciation – regulated (b)(c) (43,419 ) (16,525 ) (17,159 ) (11,915 ) (5,236 ) (2,843 ) (5,233 ) (1,681 ) Total accumulated depreciation – nonregulated (d)(e) (2,354 ) — — — — — — — Generation facilities to be retired, net 246 — 246 246 — — — — Total net property, plant and equipment $ 102,127 $ 32,397 $ 38,157 $ 22,934 $ 15,221 $ 7,398 $ 11,072 $ 6,765 (a) Includes finance leases of $952 million , $211 million , $443 million , $308 million , $135 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $143 million , $17 million and $126 million , respectively, of accumulated amortization of finance leases. (b) Includes $1,807 million , $1,082 million , $725 million and $725 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 finance leases of $6 million , $13 million and $3 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively. (d) Includes accumulated amortization of finance leases of $20 million at Duke Energy. (e) Includes gross property, plant and equipment cost of consolidated VIEs of $5,747 million and accumulated depreciation of consolidated VIEs of $1,041 million at Duke Energy. December 31, 2018 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 Piedmont Land $ 2,072 $ 472 $ 868 $ 445 $ 423 $ 136 $ 116 $ 448 Plant – Regulated Electric generation, distribution and transmission 15-100 100,706 38,468 42,760 26,147 16,613 5,182 14,292 — Natural gas transmission and distribution 12-80 8,808 — — — — 2,719 — 6,089 Other buildings and improvements 24-90 1,966 681 636 295 341 270 253 126 Plant – Nonregulated Electric generation, distribution and transmission 5-30 4,410 — — — — — — — Other buildings and improvements 25-35 494 — — — — — — — Nuclear fuel 3,460 1,898 1,562 1,562 — — — — Equipment 3-55 2,141 467 565 399 166 384 178 141 Construction in process 5,726 1,678 2,515 1,659 856 412 325 382 Other 3-40 4,675 1,077 1,354 952 393 257 279 300 Total property, plant and equipment (a)(d) 134,458 44,741 50,260 31,459 18,792 9,360 15,443 7,486 Total accumulated depreciation – regulated (b)(c)(d) (41,079 ) (15,496 ) (16,398 ) (11,423 ) (4,968 ) (2,717 ) (4,914 ) (1,575 ) Total accumulated depreciation – nonregulated (c)(d) (2,047 ) — — — — — — — Generation facilities to be retired, net 362 — 362 362 — — — — Total net property, plant and equipment $ 91,694 $ 29,245 $ 34,224 $ 20,398 $ 13,824 $ 6,643 $ 10,529 $ 5,911 (a) Includes finance leases of $1,237 million , $135 million , $257 million , $137 million , $120 million , $73 million and $35 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 $131 million , $14 million and $117 million , respectively, of accumulated amortization of finance leases. (b) Includes $1,947 million , $1,087 million , $860 million and $860 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 finance leases of $61 million , $12 million , $20 million and $10 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 $4,007 million and accumulated depreciation of consolidated VIEs of $698 million at Duke Energy. |
Schedule Of Capitalized Interest | The following tables present capitalized interest, which includes the debt component of AFUDC. Years Ended December 31, (in millions) 2019 2018 2017 Duke Energy $ 159 $ 161 $ 128 Duke Energy Carolinas 30 35 45 Progress Energy 31 51 45 Duke Energy Progress 28 26 21 Duke Energy Florida 3 25 24 Duke Energy Ohio 22 17 10 Duke Energy Indiana 26 27 9 Piedmont 26 17 12 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill By Reportable Operating Segment | The following table presents goodwill by reportable segment for Duke Energy included on Duke Energy's Consolidated Balance Sheets at December 31, 2019 , and 2018 . Electric Utilities Gas Utilities Commercial (in millions) and Infrastructure and Infrastructure Renewables Total Goodwill Balance at December 31, 2018 $ 17,379 $ 1,924 $ 122 $ 19,425 Accumulated impairment charges (a) — — (122 ) (122 ) Goodwill balance at December 31, 2018, adjusted for accumulated impairment charges $ 17,379 $ 1,924 $ — $ 19,303 Goodwill Balance at December 31, 2019 $ 17,379 $ 1,924 $ 122 $ 19,425 Accumulated impairment charges (a) — — (122 ) (122 ) Goodwill balance at December 31, 2019, adjusted for accumulated impairment charges $ 17,379 $ 1,924 $ — $ 19,303 (a) Duke Energy evaluated the recoverability of goodwill during 2018 and 2017 and recorded impairment charges of $93 million and $29 million , respectively, related to the Commercial Renewables reporting unit included in Impairment charges on Duke Energy’s Consolidated Statements of Operations. The fair value of the reporting unit was determined based on the income approach and market approach in 2018 and 2017, respectively. See "Goodwill Impairment Testing" below for the results of the 2019 goodwill impairment test. |
Schedule of Intangible Assets | The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2019 , and 2018 . December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Emission allowances $ 18 $ — $ 5 $ 2 $ 3 $ — $ 12 $ — Renewable energy certificates 172 53 118 118 — 1 — — Natural gas, coal and power contracts 24 — — — — — 24 — Renewable operating and development projects 89 — — — — — — — Other 2 — — — — — — — Total gross carrying amounts 305 53 123 120 3 1 36 — Accumulated amortization – natural gas, coal and power contracts (21 ) — — — — — (21 ) — Accumulated amortization – renewable operating and development projects (34 ) — — — — — — — Accumulated amortization – other (1 ) — — — — — — — Total accumulated amortization (56 ) — — — — — (21 ) — Total intangible assets, net $ 249 $ 53 $ 123 $ 120 $ 3 $ 1 $ 15 $ — December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Emission allowances $ 18 $ — $ 5 $ 2 $ 3 $ — $ 12 $ — Renewable energy certificates 168 46 120 120 — 2 — — Natural gas, coal and power contracts 24 — — — — — 24 — Renewable operating and development projects 84 — — — — — — — Other 6 — — — — — — 3 Total gross carrying amounts 300 46 125 122 3 2 36 3 Accumulated amortization – natural gas, coal and power contracts (20 ) — — — — — (20 ) — Accumulated amortization – renewable operating and development projects (29 ) — — — — — — — Accumulated amortization – other (5 ) — — — — — — (3 ) Total accumulated amortization (54 ) — — — — — (20 ) (3 ) Total intangible assets, net $ 246 $ 46 $ 125 $ 122 $ 3 $ 2 $ 16 $ — |
Investments in Unconsolidated_2
Investments in Unconsolidated Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 2018 2017 Equity in Equity in Equity in (in millions) Investments earnings Investments earnings Investments earnings Electric Utilities and Infrastructure $ 122 $ 9 $ 97 $ 6 $ 89 $ 5 Gas Utilities and Infrastructure 1,388 114 1,003 27 763 62 Commercial Renewables 314 (4 ) 201 (1 ) 190 (5 ) Other 112 43 108 51 133 57 Total $ 1,936 $ 162 $ 1,409 $ 83 $ 1,175 $ 119 The table below outlines Duke Energy's ownership interests in natural gas pipeline companies and natural gas storage facilities. Investment Amount (in millions) Ownership December 31, December 31, Entity Name Interest 2019 2018 Pipeline Investments ACP 47 % $ 1,179 $ 797 Sabal Trail 7.5 % 121 112 (c) Constitution 24 % — 25 Cardinal (a) 21.49 % 9 10 Storage Facilities Pine Needle (a) 45 % 28 13 Hardy Storage (a) 50 % 51 46 Total Investments (b) $ 1,388 $ 1,003 (a) Piedmont owns the Cardinal, Pine Needle and Hardy Storage investments. (b) Duke Energy includes purchase accounting adjustments related to Piedmont. (c) Sabal Trail returned capital of $112 million during the year ended December 31, 2018. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
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) 2019 2018 2017 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 841 $ 985 $ 858 Indemnification coverages (b) 20 22 23 Joint Dispatch Agreement (JDA) revenue (c) 60 84 49 JDA expense (c) 186 207 145 Intercompany natural gas purchases (d) 15 15 9 Progress Energy Corporate governance and shared service expenses (a) $ 778 $ 906 $ 736 Indemnification coverages (b) 37 34 38 JDA revenue (c) 186 207 145 JDA expense (c) 60 84 49 Intercompany natural gas purchases (d) 76 78 77 Duke Energy Progress Corporate governance and shared service expenses (a) $ 462 $ 577 $ 438 Indemnification coverages (b) 15 13 15 JDA revenue (c) 186 207 145 JDA expense (c) 60 84 49 Intercompany natural gas purchases (d) 76 78 77 Duke Energy Florida Corporate governance and shared service expenses (a) $ 316 $ 329 $ 298 Indemnification coverages (b) 22 21 23 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 354 $ 374 $ 363 Indemnification coverages (b) 4 5 5 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 412 $ 405 $ 370 Indemnification coverages (b) 7 7 8 Piedmont Corporate governance and shared service expenses (a) $ 138 $ 170 $ 50 Indemnification coverages (b) 3 2 2 Intercompany natural gas sales (d) 91 93 86 Natural gas storage and transportation costs (e) 23 25 25 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily 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 and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Consolidated Statements of Operations and Comprehensive Income. (d) Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Consolidated Statements of Operations and Comprehensive Income. These intercompany revenues and expenses are eliminated in consolidation. (e) Piedmont has related party transactions as a customer of its equity method investments in Pine Needle, Hardy Storage, and Cardinal natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Consolidated Statements of Operations and Comprehensive Income. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana Piedmont December 31, 2019 Intercompany income tax receivable $ — $ 125 $ 28 $ — $ 9 $ 28 $ 13 Intercompany income tax payable 5 — — 2 — — — December 31, 2018 Intercompany income tax receivable $ 52 $ 47 $ 29 $ — $ — $ 8 $ — Intercompany income tax payable — — — 16 3 — 45 |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts of Outstanding Derivative Positions | The following tables show notional amounts of outstanding derivatives related to interest rate risk. December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 993 $ — $ — $ — $ — $ — Undesignated contracts 1,277 450 800 250 550 27 Total notional amount (a) $ 2,270 $ 450 $ 800 $ 250 $ 550 $ 27 December 31, 2018 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges (a) $ 923 $ — $ — $ — $ — $ — Undesignated contracts 1,721 300 1,200 650 550 27 Total notional amount $ 2,644 $ 300 $ 1,200 $ 650 $ 550 $ 27 (a) Duke Energy includes amounts related to consolidated VIEs of $693 million in cash flow hedges as of December 31, 2019 , and $422 million in cash flow hedges and $194 million in undesignated contracts as of December 31, 2018 . The tables below include 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 15,858 — — — — 1,887 13,971 — Natural gas (millions of Dth) 704 130 160 160 — — 3 411 December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 15,286 — — — — 1,786 13,500 — Natural gas (millions of Dth) 739 121 169 166 3 — 1 448 |
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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 17 $ — $ — $ — $ — $ 3 $ 13 $ 1 Noncurrent 1 — — — — 1 — — Total Derivative Assets – Commodity Contracts $ 18 $ — $ — $ — $ — $ 4 $ 13 $ 1 Interest Rate Contracts Not Designated as Hedging Instruments Current 6 — 6 — 6 — — — Total Derivative Assets – Interest Rate Contracts $ 6 $ — $ 6 $ — $ 6 $ — $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 1 — 1 — 1 — — — Total Derivative Assets – Equity Securities Contracts $ 1 $ — $ 1 $ — $ 1 $ — $ — $ — Total Derivative Assets $ 25 $ — $ 7 $ — $ 7 $ 4 $ 13 $ 1 Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 67 $ 33 $ 26 $ 26 $ — $ — $ 1 $ 7 Noncurrent 156 10 37 22 — — — 110 Total Derivative Liabilities – Commodity Contracts $ 223 $ 43 $ 63 $ 48 $ — $ — $ 1 $ 117 Interest Rate Contracts Designated as Hedging Instruments Current $ 19 $ — $ — $ — $ — $ — $ — $ — Noncurrent 21 — — — — — — — Not Designated as Hedging Instruments Current 8 6 1 1 — 1 — — Noncurrent 5 — — — — 5 — — Total Derivative Liabilities – Interest Rate Contracts $ 53 $ 6 $ 1 $ 1 $ — $ 6 $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 24 — 24 — 24 — — — Total Derivative Liabilities – Equity Security Contracts $ 24 $ — $ 24 $ — $ 24 $ — $ — $ — Total Derivative Liabilities $ 300 $ 49 $ 88 $ 49 $ 24 $ 6 $ 1 $ 117 Derivative Assets December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 35 $ 2 $ 2 $ 2 $ — $ 6 $ 23 $ 3 Noncurrent 4 1 2 2 — — — — Total Derivative Assets – Commodity Contracts $ 39 $ 3 $ 4 $ 4 $ — $ 6 $ 23 $ 3 Interest Rate Contracts Designated as Hedging Instruments Current $ 1 $ — $ — $ — $ — $ — $ — $ — Noncurrent 3 — — — — — — — Not Designated as Hedging Instruments Current 2 — — — — — — — Noncurrent 12 — — — — — — — Total Derivative Assets – Interest Rate Contracts $ 18 $ — $ — $ — $ — $ — $ — $ — Total Derivative Assets $ 57 $ 3 $ 4 $ 4 $ — $ 6 $ 23 $ 3 Derivative Liabilities December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 33 $ 14 $ 10 $ 5 $ 6 $ — $ — $ 8 Noncurrent 158 10 15 6 — — — 133 Total Derivative Liabilities – Commodity Contracts $ 191 $ 24 $ 25 $ 11 $ 6 $ — $ — $ 141 Interest Rate Contracts Designated as Hedging Instruments Current $ 12 $ — $ — $ — $ — $ — $ — $ — Noncurrent 6 — — — — — — — Not Designated as Hedging Instruments Current 23 9 13 11 2 1 — — Noncurrent 10 — 6 5 1 4 — — Total Derivative Liabilities – Interest Rate Contracts $ 51 $ 9 $ 19 $ 16 $ 3 $ 5 $ — $ — Total Derivative Liabilities $ 242 $ 33 $ 44 $ 27 $ 9 $ 5 $ — $ 141 |
Offsetting Assets | 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 24 $ — $ 7 $ — $ 7 $ 3 $ 13 $ 1 Gross amounts offset (1 ) — (1 ) — (1 ) — — — Net amounts presented in Current Assets: Other $ 23 $ — $ 6 $ — $ 6 $ 3 $ 13 $ 1 Noncurrent Gross amounts recognized $ 1 $ — $ — $ — $ — $ 1 $ — $ — Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Assets: Other $ 1 $ — $ — $ — $ — $ 1 $ — $ — Derivative Assets December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 38 $ 2 $ 2 $ 2 $ — $ 6 $ 23 $ 3 Gross amounts offset (3 ) (2 ) (2 ) (2 ) — — — — Net amounts presented in Current Assets: Other $ 35 $ — $ — $ — $ — $ 6 $ 23 $ 3 Noncurrent Gross amounts recognized $ 19 $ 1 $ 2 $ 2 $ — $ — $ — $ — Gross amounts offset (3 ) (1 ) (2 ) (2 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 16 $ — $ — $ — $ — $ — $ — $ — |
Offsetting Liabilities | Derivative Liabilities December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 68 $ 23 $ 23 $ 16 $ 8 $ 1 $ — $ 8 Gross amounts offset (4 ) (2 ) (2 ) (2 ) — — — — Net amounts presented in Current Liabilities: Other $ 64 $ 21 $ 21 $ 14 $ 8 $ 1 $ — $ 8 Noncurrent Gross amounts recognized $ 174 $ 10 $ 21 $ 11 $ 1 $ 4 $ — $ 133 Gross amounts offset (3 ) (1 ) (2 ) (2 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 171 $ 9 $ 19 $ 9 $ 1 $ 4 $ — $ 133 Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 118 $ 39 $ 51 $ 27 $ 24 $ 1 $ 1 $ 7 Gross amounts offset (24 ) — (24 ) — (24 ) — — — Net amounts presented in Current Liabilities: Other $ 94 $ 39 $ 27 $ 27 $ — $ 1 $ 1 $ 7 Noncurrent Gross amounts recognized $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 |
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. December 31, 2019 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 79 $ 35 $ 44 $ 44 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 79 35 44 44 December 31, 2018 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 44 $ 19 $ 25 $ 25 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 44 19 25 25 The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative and cash collateral must be executed with the same counterparty under the same master netting arrangement. |
Investments in Debt and Equit_2
Investments in Debt and Equity Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investment [Line Items] | |
Summary of Investments in Debt and Equity Securities | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 101 $ — $ — $ 88 Equity securities 3,523 55 5,661 2,402 95 4,475 Corporate debt securities 37 1 603 4 13 566 Municipal bonds 13 — 368 1 4 353 U.S. government bonds 33 1 1,256 14 12 1,076 Other debt securities 3 — 141 — 2 148 Total NDTF Investments $ 3,609 $ 57 $ 8,130 $ 2,421 $ 126 $ 6,706 Other Investments Cash and cash equivalents $ — $ — $ 52 $ — $ — $ 22 Equity securities 57 — 122 36 1 99 Corporate debt securities 3 — 67 — 2 60 Municipal bonds 4 — 94 — 1 85 U.S. government bonds 2 — 41 1 — 45 Other debt securities — — 56 — 1 58 Total Other Investments $ 66 $ — $ 432 $ 37 $ 5 $ 369 Total Investments $ 3,675 $ 57 $ 8,562 $ 2,458 $ 131 $ 7,075 |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 372 Due after one through five years 550 Due after five through 10 years 452 Due after 10 years 1,252 Total $ 2,626 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 172 $ 168 Realized losses 151 126 AFS: Realized gains 94 22 Realized losses 67 51 Year Ended December 31, (in millions) 2017 Realized gains $ 202 Realized losses 160 |
Duke Energy Carolinas | |
Investment [Line Items] | |
Summary of Investments in Debt and Equity Securities | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 21 $ — $ — $ 29 Equity securities 1,914 8 3,154 1,309 54 2,484 Corporate debt securities 21 1 361 2 9 341 Municipal bonds 3 — 96 — 1 81 U.S. government bonds 16 1 578 5 8 475 Other debt securities 3 — 137 — 2 143 Total NDTF Investments $ 1,957 $ 10 $ 4,347 $ 1,316 $ 74 $ 3,553 |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 51 Due after one through five years 253 Due after five through 10 years 181 Due after 10 years 687 Total $ 1,172 |
Schedule of Realized Gain (Loss) | Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 113 $ 89 Realized losses 107 73 AFS: Realized gains 55 19 Realized losses 38 35 Year Ended December 31, (in millions) 2017 Realized gains $ 135 Realized losses 103 |
Progress Energy | |
Investment [Line Items] | |
Summary of Investments in Debt and Equity Securities | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 80 $ — $ — $ 59 Equity securities 1,609 47 2,507 1,093 41 1,991 Corporate debt securities 16 — 242 2 4 225 Municipal bonds 10 — 272 1 3 272 U.S. government bonds 17 — 678 9 4 601 Other debt securities — — 4 — — 5 Total NDTF Investments $ 1,652 $ 47 $ 3,783 $ 1,105 $ 52 $ 3,153 Other Investments Cash and cash equivalents $ — $ — $ 49 $ — $ — $ 17 Municipal bonds 3 — 51 — — 47 Total Other Investments $ 3 $ — $ 100 $ — $ — $ 64 Total Investments $ 1,655 $ 47 $ 3,883 $ 1,105 $ 52 $ 3,217 |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 311 Due after one through five years 256 Due after five through 10 years 211 Due after 10 years 469 Total $ 1,247 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 59 $ 79 Realized losses 44 53 AFS: Realized gains 36 3 Realized losses 29 15 Year Ended December 31, (in millions) 2017 Realized gains $ 65 Realized losses 56 |
Duke Energy Progress | |
Investment [Line Items] | |
Summary of Investments in Debt and Equity Securities | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 53 $ — $ — $ 46 Equity securities 1,258 21 2,077 833 30 1,588 Corporate debt securities 16 — 242 2 3 171 Municipal bonds 10 — 272 1 3 271 U.S. government bonds 16 — 403 6 3 415 Other debt securities — — 4 — — 3 Total NDTF Investments $ 1,300 $ 21 $ 3,051 $ 842 $ 39 $ 2,494 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 6 Total Other Investments $ — $ — $ 2 $ — $ — $ 6 Total Investments $ 1,300 $ 21 $ 3,053 $ 842 $ 39 $ 2,500 |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 34 Due after one through five years 247 Due after five through 10 years 204 Due after 10 years 436 Total $ 921 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 38 $ 68 Realized losses 33 48 AFS: Realized gains 7 2 Realized losses 5 10 Year Ended December 31, (in millions) 2017 Realized gains $ 54 Realized losses 48 |
Duke Energy Florida | |
Investment [Line Items] | |
Summary of Investments in Debt and Equity Securities | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value NDTF Cash and cash equivalents $ — $ — $ 27 $ — $ — $ 13 Equity securities 351 26 430 260 11 403 Corporate debt securities — — — — 1 54 Municipal bonds — — — — — 1 U.S. government bonds 1 — 275 3 1 186 Other debt securities — — — — — 2 Total NDTF Investments (a) $ 352 $ 26 $ 732 $ 263 $ 13 $ 659 Other Investments Cash and cash equivalents $ — $ — $ 4 $ — $ — $ 1 Municipal bonds 3 — 51 — — 47 Total Other Investments $ 3 $ — $ 55 $ — $ — $ 48 Total Investments $ 355 $ 26 $ 787 $ 263 $ 13 $ 707 (a) During the year ended December 31, 2019 , Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of the Crystal River Unit 3. |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 277 Due after one through five years 9 Due after five through 10 years 7 Due after 10 years 33 Total $ 326 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2019 , and 2018 , and from sales of AFS securities for the year ended December 31, 2017 , were as follows. Years Ended December 31, (in millions) 2019 2018 FV-NI: Realized gains $ 21 $ 11 Realized losses 11 5 AFS: Realized gains 29 1 Realized losses 24 5 Year Ended December 31, (in millions) 2017 Realized gains $ 11 Realized losses 8 |
Duke Energy Indiana | |
Investment [Line Items] | |
Summary of Investments in Debt and Equity Securities | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS. December 31, 2019 December 31, 2018 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Holding Holding Estimated Holding Holding Estimated (in millions) Gains Losses Fair Value Gains Losses Fair Value Investments Equity securities $ 43 $ — $ 81 $ 29 $ — $ 67 Corporate debt securities — — 6 — — 8 Municipal bonds 1 — 36 — 1 33 U.S. government bonds — — 2 — — — Total Investments $ 44 $ — $ 125 $ 29 $ 1 $ 108 |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. (in millions) December 31, 2019 Due in one year or less $ 4 Due after one through five years 16 Due after five through 10 years 7 Due after 10 years 17 Total $ 44 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15 . See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants. December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 5,684 $ 5,633 $ — $ — $ 51 NDTF debt securities 2,469 826 1,643 — — Other equity securities 122 122 — — — Other debt securities 310 91 219 — — Derivative assets 25 3 7 15 — Total assets 8,610 6,675 1,869 15 51 NDTF equity security contracts (23 ) — (23 ) — — Derivative liabilities (277 ) (15 ) (145 ) (117 ) — Net assets (liabilities) $ 8,310 $ 6,660 $ 1,701 $ (102 ) $ 51 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 4,475 $ 4,410 $ — $ — $ 65 NDTF debt securities 2,231 576 1,655 — — Other equity securities 99 99 — — — Other debt securities 270 67 203 — — Derivative assets 57 4 25 28 — Total assets 7,132 5,156 1,883 28 65 Derivative liabilities (242 ) (11 ) (90 ) (141 ) — Net assets (liabilities) $ 6,890 $ 5,145 $ 1,793 $ (113 ) $ 65 |
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs | The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. December 31, 2019 December 31, 2018 (in millions) Derivatives (net) Derivatives (net) Balance at beginning of period $ (113 ) $ (114 ) Purchases, sales, issuances and settlements: Purchases 37 57 Settlements (44 ) (57 ) Total gains included on the Consolidated Balance Sheet 18 1 Balance at end of period $ (102 ) $ (113 ) |
Quantitative Information Table - Level 3 | The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. December 31, 2019 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Ohio FTRs $ 4 RTO auction pricing FTR price – per MWh $ 0.59 – $ 3.47 $ 2.07 Duke Energy Indiana FTRs 11 RTO auction pricing FTR price – per MWh (0.66 ) – 9.24 1.15 Piedmont Natural gas contracts (117 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.59 – 2.46 1.91 Duke Energy Total Level 3 derivatives $ (102 ) December 31, 2018 Fair Value Investment Type (in millions) Valuation Technique Unobservable Input Range Duke Energy Ohio FTRs $ 6 RTO auction pricing FTR price – per MWh $ 1.19 – $ 4.59 Duke Energy Indiana FTRs 22 RTO auction pricing FTR price – per MWh (2.07 ) – 8.27 Piedmont Natural gas contracts (141 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.87 – 2.95 Duke Energy Total Level 3 derivatives $ (113 ) |
Schedule of Long-term debt Fair Value | 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, 2019 December 31, 2018 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy (a) $ 58,126 $ 63,062 $ 54,529 $ 54,534 Duke Energy Carolinas 11,900 13,516 10,939 11,471 Progress Energy 19,634 22,291 18,911 19,885 Duke Energy Progress 9,058 9,934 8,204 8,300 Duke Energy Florida 7,987 9,131 7,321 7,742 Duke Energy Ohio 2,619 2,964 2,165 2,239 Duke Energy Indiana 4,057 4,800 3,782 4,158 Piedmont 2,384 2,642 2,138 2,180 (a) Book value of long-term debt includes $1.5 billion as of December 31, 2019 , and $1.6 billion as of December 31, 2018 , of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt. |
Duke Energy Carolinas | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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. December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 3,154 $ 3,103 $ — $ 51 NDTF debt securities 1,193 227 966 — Total assets 4,347 3,330 966 51 Derivative liabilities (49 ) — (49 ) — Net assets $ 4,298 $ 3,330 $ 917 $ 51 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 2,484 $ 2,419 $ — $ 65 NDTF debt securities 1,069 149 920 — Derivative assets 3 — 3 — Total assets 3,556 2,568 923 65 Derivative liabilities (33 ) — (33 ) — Net assets $ 3,523 $ 2,568 $ 890 $ 65 |
Progress Energy | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 2,530 $ 2,530 $ — $ 1,991 $ 1,991 $ — NDTF debt securities 1,276 599 677 1,162 427 735 Other debt securities 100 49 51 64 17 47 Derivative assets 7 — 7 4 — 4 Total assets 3,913 3,178 735 3,221 2,435 786 NDTF equity security contracts (23 ) — (23 ) — — — Derivative liabilities (65 ) — (65 ) (44 ) — (44 ) Net assets $ 3,825 $ 3,178 $ 647 $ 3,177 $ 2,435 $ 742 |
Duke Energy Progress | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 2,077 $ 2,077 $ — $ 1,588 $ 1,588 $ — NDTF debt securities 974 297 677 906 294 612 Other debt securities 2 2 — 6 6 — Derivative assets — — — 4 — 4 Total assets 3,053 2,376 677 2,504 1,888 616 Derivative liabilities (49 ) — (49 ) (27 ) — (27 ) Net assets $ 3,004 $ 2,376 $ 628 $ 2,477 $ 1,888 $ 589 |
Duke Energy Florida | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 453 $ 453 $ — $ 403 $ 403 $ — NDTF debt securities 302 302 — 256 133 123 Other debt securities 55 4 51 48 1 47 Derivative assets 7 — 7 — — — Total assets 817 759 58 707 537 170 NDTF equity security contracts (23 ) — (23 ) — — — Derivative liabilities (1 ) — (1 ) (9 ) — (9 ) Net assets $ 793 $ 759 $ 34 $ 698 $ 537 $ 161 |
Duke Energy Indiana | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Other equity securities $ 81 $ 81 $ — $ — $ 67 $ 67 $ — $ — Other debt securities 44 — 44 — 41 — 41 — Derivative assets 13 2 — 11 23 1 — 22 Total assets 138 83 44 11 131 68 41 22 Derivative liabilities (1 ) (1 ) — — — — — — Total assets $ 137 $ 82 $ 44 $ 11 $ 131 $ 68 $ 41 $ 22 |
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) 2019 2018 Balance at beginning of period $ 22 $ 27 Purchases, sales, issuances and settlements: Purchases 28 50 Settlements (36 ) (53 ) Total losses included on the Consolidated Balance Sheet (3 ) (2 ) Balance at end of period $ 11 $ 22 |
Piedmont | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. December 31, 2019 December 31, 2018 (in millions) Total Fair Value Level 1 Level 3 Total Fair Value Level 1 Level 3 Derivative assets $ 1 $ 1 $ — $ 3 $ 3 $ — Derivative liabilities (117 ) — (117 ) (141 ) — (141 ) Net (liabilities) assets $ (116 ) $ 1 $ (117 ) $ (138 ) $ 3 $ (141 ) |
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) 2019 2018 Balance at beginning of period $ (141 ) $ (142 ) Total gains and settlements 24 1 Balance at end of period $ (117 ) $ (141 ) |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
VIE | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above. Duke Energy Duke Energy Duke Energy Duke Energy Carolinas Progress Florida (in millions) CRC DERF DEPR DEFR Expiration date February 2023 December 2022 February 2021 April 2021 Credit facility amount $ 350 $ 475 $ 325 $ 250 Amounts borrowed at December 31, 2019 350 474 325 250 Amounts borrowed at December 31, 2018 325 450 300 225 Restricted Receivables at December 31, 2019 522 642 489 336 Restricted Receivables at December 31, 2018 564 699 547 357 |
VIE | DEFPF | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | The following table summarizes the impact of DEFPF on Duke Energy Florida's Consolidated Balance Sheets. December 31, (in millions) 2019 2018 Receivables of VIEs $ 5 $ 5 Regulatory Assets: Current 52 52 Current Assets: Other 39 39 Other Noncurrent Assets: Regulatory assets 989 1,041 Current Liabilities: Other 10 10 Current maturities of long-term debt 54 53 Long-Term Debt 1,057 1,111 |
VIE | Commercial Renewables | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | The table below presents material balances reported on Duke Energy's Consolidated Balance Sheets related to Commercial Renewables VIEs. December 31, (in millions) 2019 2018 Current Assets: Other $ 203 $ 123 Property, Plant and Equipment: Cost 5,747 4,007 Accumulated depreciation and amortization (1,041 ) (698 ) Other Noncurrent Assets: Other 106 261 Current maturities of long-term debt 162 174 Long-Term Debt 1,541 1,587 Other Noncurrent Liabilities: AROs 127 106 Other Noncurrent Liabilities: Other 228 212 |
VIE, Not Primary Beneficiary | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets. December 31, 2019 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs (a) Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 64 $ 77 Investments in equity method unconsolidated affiliates 1,179 300 — 1,479 — — Total assets $ 1,179 $ 299 $ — $ 1,478 $ 64 $ 77 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 4 4 — — Deferred income taxes 59 — — 59 — — Other noncurrent liabilities — — 11 11 — — Total liabilities $ 58 $ — $ 15 $ 73 $ — $ — Net assets (liabilities) $ 1,121 $ 299 $ (15 ) $ 1,405 $ 64 $ 77 (a) Duke Energy holds a 50% equity interest in Pioneer. As of December 31, 2018, Pioneer was considered a VIE due to having insufficient equity to finance its own activities without subordinated financial support. In October 2019, Pioneer closed on a private placement debt offering that gave Pioneer sufficient equity to finance its own activities and, therefore, is no longer considered a VIE. Duke Energy's investment in Pioneer was $57 million at December 31, 2019. December 31, 2018 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ — $ — $ — $ 93 $ 118 Investments in equity method unconsolidated affiliates 822 190 48 1,060 — — Total assets $ 822 $ 190 $ 48 $ 1,060 $ 93 $ 118 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 4 4 — — Deferred income taxes 21 — — 21 — — Other noncurrent liabilities — — 12 12 — — Total liabilities $ 20 $ — $ 16 $ 36 $ — $ — Net assets $ 802 $ 190 $ 32 $ 1,024 $ 93 $ 118 |
VIE, Not Primary Beneficiary | Pipeline Investments | |
Variable Interest Entity [Line Items] | |
Schedule Of Variable Interest Entities | The table below presents Duke Energy's ownership interest and investment balances in these joint ventures. VIE Investment Amount (in millions) Ownership December 31, December 31, Entity Name Interest 2019 2018 ACP (a) 47 % $ 1,179 $ 797 Constitution (b) 24 % — 25 Total $ 1,179 $ 822 (a) Duke Energy evaluated this investment for impairment as of December 31, 2019, and 2018, and determined that fair value approximated carrying value and therefore no impairment was necessary. (b) During the years ended December 31, 2019, and 2018, Duke Energy recorded an OTTI of $25 million and $55 million , respectively, related to Constitution within Equity in earnings of unconsolidated affiliates on Duke Energy's Consolidated Statements of Income. The current year charge resulted in the full write-down of Duke Energy's investment in Constitution. See Notes 4 and 13 for additional information. |
VIE, Not Primary Beneficiary | CRC | |
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 2019 2018 2019 2018 Anticipated credit loss ratio 0.6 % 0.5 % 0.3 % 0.3 % Discount rate 3.3 % 3.0 % 3.3 % 3.0 % Receivable turnover rate 13.4 % 13.5 % 11.5 % 11.0 % The following table shows the gross and net receivables sold. Duke Energy Ohio Duke Energy Indiana December 31, December 31, (in millions) 2019 2018 2019 2018 Receivables sold $ 253 $ 269 $ 307 $ 336 Less: Retained interests 64 93 77 118 Net receivables sold $ 189 $ 176 $ 230 $ 218 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) 2019 2018 2017 2019 2018 2017 Sales Receivables sold $ 1,979 $ 1,987 $ 1,879 $ 2,837 $ 2,842 $ 2,711 Loss recognized on sale 14 13 10 17 16 12 Cash flows Cash proceeds from receivables sold 1,993 1,967 1,865 2,860 2,815 2,694 Collection fees received 1 1 1 1 1 1 Return received on retained interests 6 6 3 9 9 7 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | Estimated remaining performance obligations are as follows: Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Piedmont $ 69 $ 64 $ 64 $ 61 $ 58 $ 372 $ 688 Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Progress Energy $ 121 $ 92 $ 87 $ 44 $ 45 $ 58 $ 447 Duke Energy Progress 8 8 8 8 8 — 40 Duke Energy Florida 113 84 79 36 37 58 407 Duke Energy Indiana 10 5 — — — — 15 |
Disaggregation of Revenue | Year Ended December 31, 2018 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 9,587 $ 2,981 $ 4,785 $ 2,019 $ 2,766 $ 743 $ 1,076 $ — General 6,127 2,119 2,809 1,280 1,529 422 778 — Industrial 2,974 1,180 904 642 262 131 760 — Wholesale 2,324 508 1,462 1,303 159 57 298 — Other revenues 717 320 502 320 182 73 91 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 21,729 $ 7,108 $ 10,462 $ 5,564 $ 4,898 $ 1,426 $ 3,003 $ — Gas Utilities and Infrastructure Residential $ 1,000 $ — $ — $ — $ — $ 331 $ — $ 669 Commercial 514 — — — — 135 — 378 Industrial 147 — — — — 18 — 128 Power Generation — — — — — — — 54 Other revenues 139 — — — — 19 — 120 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,800 $ — $ — $ — $ — $ 503 $ — $ 1,349 Commercial Renewables Revenue from contracts with customers $ 209 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 19 $ — $ — $ — $ — $ 1 $ — $ — Total revenue from contracts with customers $ 23,757 $ 7,108 $ 10,462 $ 5,564 $ 4,898 $ 1,930 $ 3,003 $ 1,349 Other revenue sources (a) $ 764 $ 192 $ 266 $ 135 $ 123 $ 27 $ 56 $ 26 Total revenues $ 24,521 $ 7,300 $ 10,728 $ 5,699 $ 5,021 $ 1,957 $ 3,059 $ 1,375 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. Year Ended December 31, 2019 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 9,863 $ 3,044 $ 4,998 $ 2,144 $ 2,854 $ 733 $ 1,087 $ — General 6,431 2,244 2,935 1,368 1,567 451 802 — Industrial 3,071 1,215 934 675 259 147 774 — Wholesale 2,212 462 1,468 1,281 187 46 235 — Other revenues 770 276 548 317 231 80 89 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 22,347 $ 7,241 $ 10,883 $ 5,785 $ 5,098 $ 1,457 $ 2,987 $ — Gas Utilities and Infrastructure Residential $ 976 $ — $ — $ — $ — $ 315 $ — $ 661 Commercial 508 — — — — 130 — 378 Industrial 141 — — — — 19 — 122 Power Generation — — — — — — — 51 Other revenues 129 — — — — 19 — 110 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 1,754 $ — $ — $ — $ — $ 483 $ — $ 1,322 Commercial Renewables Revenue from contracts with customers $ 223 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 24 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 24,348 $ 7,241 $ 10,883 $ 5,785 $ 5,098 $ 1,940 $ 2,987 $ 1,322 Other revenue sources (a) $ 731 $ 154 $ 319 $ 172 $ 133 $ — $ 17 $ 59 Total revenues $ 25,079 $ 7,395 $ 11,202 $ 5,957 $ 5,231 $ 1,940 $ 3,004 $ 1,381 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. |
Schedule Of Unbilled Revenues With Restricted Receivables | Unbilled revenues are included within Receivables and Receivables of VIEs on the Consolidated Balance Sheets as shown in the following table. December 31, (in millions) 2019 2018 Duke Energy $ 843 $ 896 Duke Energy Carolinas 298 313 Progress Energy 217 244 Duke Energy Progress 122 148 Duke Energy Florida 95 96 Duke Energy Ohio 1 2 Duke Energy Indiana 16 23 Piedmont 78 73 December 31, (in millions) 2019 2018 Duke Energy Ohio $ 82 $ 86 Duke Energy Indiana 115 128 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Schedule Of Earnings Per Share | The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared. Years Ended December 31, (in millions, except per share amounts) 2019 2018 2017 Income from continuing operations available to Duke Energy common stockholders excluding impact of participating securities and including accumulated preferred stock dividends $ 3,694 $ 2,642 $ 3,059 Weighted average common shares outstanding – basic and diluted 729 708 700 EPS from continuing operations available to Duke Energy common stockholders Basic and diluted $ 5.07 $ 3.73 $ 4.37 Potentially dilutive items excluded from the calculation (a) 2 2 2 Dividends declared per common share $ 3.75 $ 3.64 $ 3.49 Dividends declared on Series A preferred stock per depositary share $ 1.03 $ — $ — (a) Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met. |
Severance (Tables)
Severance (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Severance Expense | by the Duke Energy Registrants 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 Piedmont Year Ended December 31, 2019 $ 16 $ 8 $ 6 $ 3 $ 3 $ — $ 1 $ 1 Year Ended December 31, 2018 187 102 69 52 17 6 7 2 Year Ended December 31, 2017 15 2 2 1 1 — 1 9 |
Schedule of Severance Liability | The table below presents the severance liability for past and ongoing severance plans including the plans described above. Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Balance at December 31, 2018 $ 205 $ 100 $ 51 $ 41 $ 9 $ 2 $ 2 $ — Provision/Adjustments 24 4 11 2 10 1 1 — Cash Reductions (188 ) (93 ) (49 ) (37 ) (12 ) (2 ) (1 ) — Balance at December 31, 2019 $ 41 $ 11 $ 13 $ 6 $ 7 $ 1 $ 2 $ — |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
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) 2019 2018 2017 Duke Energy $ 65 $ 56 $ 43 Duke Energy Carolinas 24 20 15 Progress Energy 24 21 16 Duke Energy Progress 15 13 10 Duke Energy Florida 9 8 6 Duke Energy Ohio 5 4 3 Duke Energy Indiana 6 5 4 Piedmont 3 3 3 |
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) 2019 2018 2017 RSU awards $ 44 $ 43 $ 41 Performance awards 45 35 27 Pretax stock-based compensation cost $ 89 $ 78 $ 68 Stock-based compensation costs capitalized 5 5 4 Stock-based compensation expense $ 84 $ 73 $ 64 Tax benefit associated with stock-based compensation expense $ 19 $ 17 $ 25 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | The following table includes information related to RSU awards. Years Ended December 31, 2019 2018 2017 Shares granted (in thousands) 571 649 583 Fair value (in millions) $ 51 $ 49 $ 47 The following table summarizes information about RSU awards outstanding. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2018 1,153 $ 77 Granted 571 89 Vested (631 ) 77 Forfeited (83 ) 82 Outstanding at December 31, 2019 1,010 83 RSU awards expected to vest 951 83 |
Schedule of Performance Awards | The following table includes information related to stock-based performance awards. Years Ended December 31, 2019 2018 2017 Shares granted assuming target performance (in thousands) 320 372 461 Fair value (in millions) $ 27 $ 27 $ 37 |
Schedule of Nonvested Performance-based Units Activity | The following table summarizes information about stock-based performance awards outstanding and assumes payout at the target level. Weighted Average Shares Grant Date Fair Value (in thousands) (per share) Outstanding at December 31, 2018 1,117 $ 77 Granted 320 86 Vested (310 ) 75 Forfeited (18 ) 81 Outstanding at December 31, 2019 1,109 80 Stock-based performance awards expected to vest 1,080 80 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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. Duke Energy does not anticipate making any contributions in 2020. The following table includes information related to the Duke Energy Registrants’ contributions to its 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 Piedmont Contributions Made: 2019 $ 77 $ 7 $ 57 $ 4 $ 53 $ 2 $ 2 $ 1 2018 141 46 45 25 20 — 8 — 2017 19 — — — — 4 — 11 |
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, 2019 Total Fair Not (in millions) Value Level 1 Level 2 Level 3 Categorized (b) Equity securities $ 2,730 $ 2,712 $ — $ — $ 18 Corporate debt securities 3,999 — 3,999 — — Short-term investment funds 545 455 90 — — Partnership interests 104 — — — 104 Hedge funds 206 — — — 206 Real estate limited partnerships — — — — — U.S. government securities 1,231 — 1,231 — — Guaranteed investment contracts 11 — — 11 — Governments bonds – foreign 78 — 78 — — Cash 75 75 — — — Net pending transactions and other investments 46 (43 ) 89 — — Total assets (a) $ 9,025 $ 3,199 $ 5,487 $ 11 $ 328 (a) Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana, and Piedmont were allocated approximately 26% , 31% , 15% , 17% , 5% , 7% , and 4% , respectively, of the Duke Energy Master Retirement Trust at December 31, 2019 . Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. (b) Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy. December 31, 2018 Total Fair Not (in millions) Value Level 1 Level 2 Level 3 Categorized (b) Equity securities $ 2,373 $ 1,751 $ — $ — $ 622 Corporate debt securities 4,054 — 4,054 — — Short-term investment funds 363 279 84 — — Partnership interests 120 — — — 120 Hedge funds 226 — — — 226 Real estate limited partnerships 144 — — — 144 U.S. government securities 961 — 961 — — Guaranteed investment contracts 27 — — 27 — Governments bonds – foreign 30 — 30 — — Cash 28 28 — — — Net pending transactions and other investments (2 ) (6 ) 4 — — Total assets (a) $ 8,324 $ 2,052 $ 5,133 $ 27 $ 1,112 (a) Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana, and Piedmont were allocated approximately 27% , 31% , 15% , 16% , 5% , 7% , and 4% , respectively, of the Duke Energy Master Retirement Trust and Piedmont's Pension assets at December 31, 2018 . Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. (b) Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy. The following tables provide the fair value measurement amounts for VEBA trust assets. December 31, 2019 Total Fair (in millions) Value Level 2 Cash and cash equivalents $ 9 $ 9 Real estate 1 1 Equity securities 22 22 Debt securities 18 18 Total assets $ 50 $ 50 December 31, 2018 Total Fair (in millions) Value Level 2 Cash and cash equivalents $ 3 $ 3 Real estate 1 1 Equity securities 25 25 Debt securities 20 20 Total assets $ 49 $ 49 The following table includes the target asset allocations by asset class at December 31, 2019 , and the actual asset allocations for the Duke Energy Master Retirement Trust. Actual Allocation at Target December 31, Allocation 2019 2018 U.S. equity securities — % — % 11 % Global equity securities 28 % 27 % 18 % Global private equity securities 1 % 1 % 2 % Debt securities 58 % 57 % 63 % Return seeking debt securities 4 % 5 % — % Hedge funds 3 % 3 % 2 % Real estate and cash 6 % 7 % 2 % Other global securities — % — % 2 % Total 100 % 100 % 100 % The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2019 . Actual Allocation at Target December 31, Allocation 2019 2018 U.S. equity securities 33 % 35 % 43 % Non-U.S. equity securities 7 % 9 % 8 % Real estate 2 % 2 % 2 % Debt securities 45 % 37 % 40 % Cash 13 % 17 % 7 % Total 100 % 100 % 100 % |
Master Trust Level 3 Rollforward | The following table provides a reconciliation of beginning and ending balances of Duke Energy Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3). (in millions) 2019 2018 Balance at January 1 $ 27 $ 28 Sales (18 ) (1 ) Total gains and other, net 2 — Transfer of Level 3 assets to other classifications — — Balance at December 31 $ 11 $ 27 |
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 Piedmont Years ended December 31, 2019 $ 214 $ 66 $ 58 $ 38 $ 20 $ 5 $ 11 $ 13 2018 213 68 58 40 19 4 10 12 2017 179 61 53 37 16 3 9 7 |
Pension Plan | Qualified Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Components of Net Periodic Pension Costs | Components of Net Periodic Pension Costs Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 158 $ 49 $ 46 $ 26 $ 20 $ 4 $ 9 $ 5 Interest cost on projected benefit obligation 317 75 100 45 54 18 26 10 Expected return on plan assets (567 ) (147 ) (178 ) (88 ) (89 ) (28 ) (43 ) (22 ) Amortization of actuarial loss 108 24 39 15 24 4 8 8 Amortization of prior service credit (32 ) (8 ) (3 ) (2 ) (1 ) — (2 ) (9 ) Amortization of settlement charges 6 2 1 1 — 2 — — Net periodic pension costs (a)(b) $ (10 ) $ (5 ) $ 5 $ (3 ) $ 8 $ — $ (2 ) $ (8 ) Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 182 $ 58 $ 51 $ 29 $ 22 $ 5 $ 11 $ 7 Interest cost on projected benefit obligation 299 72 94 43 50 17 23 11 Expected return on plan assets (559 ) (147 ) (178 ) (85 ) (91 ) (28 ) (42 ) (22 ) Amortization of actuarial loss 132 29 44 21 23 5 10 11 Amortization of prior service credit (32 ) (8 ) (3 ) (2 ) (1 ) — (2 ) (10 ) Net periodic pension costs (a)(b) $ 22 $ 4 $ 8 $ 6 $ 3 $ (1 ) $ — $ (3 ) Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 159 $ 48 $ 45 $ 26 $ 19 $ 4 $ 9 $ 10 Interest cost on projected benefit obligation 328 79 100 47 53 18 26 14 Expected return on plan assets (545 ) (142 ) (167 ) (82 ) (85 ) (27 ) (42 ) (24 ) Amortization of actuarial loss 146 31 52 23 29 5 12 11 Amortization of prior service credit (24 ) (8 ) (3 ) (2 ) (1 ) (1 ) (2 ) (2 ) Settlement charge 12 — — — — — — 12 Other 8 2 2 1 1 — 1 1 Net periodic pension costs (a)(b) $ 84 $ 10 $ 29 $ 13 $ 16 $ (1 ) $ 4 $ 22 (a) Duke Energy amounts exclude $4 million , $5 million and $7 million for the years ended December 2019 , 2018 and 2017 , 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 $2 million , $2 million and $3 million for the years ended December 2019 , 2018 and 2017 , 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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase (decrease) $ (212 ) $ (156 ) $ (79 ) $ (59 ) $ (20 ) $ 12 $ 22 $ — Accumulated other comprehensive loss (income) Deferred income tax expense (benefit) $ 20 — 1 — (1 ) — — — Amortization of prior year service credit 1 — — — — — — — Amortization of prior year actuarial losses (15 ) — (2 ) — 3 — — — Net amount recognized in accumulated other comprehensive income $ 6 $ — $ (1 ) $ — $ 2 $ — $ — $ — Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase $ 298 $ 170 $ 40 $ 31 $ 9 $ 10 $ 30 $ 8 Accumulated other comprehensive (income) loss Deferred income tax expense $ (2 ) $ — $ 1 $ — $ — $ — $ — $ — Prior year service credit arising during the year 1 — — — — — — — Amortization of prior year actuarial losses 10 — (4 ) — — — — — Net amount recognized in accumulated other comprehensive income $ 9 $ — $ (3 ) $ — $ — $ — $ — $ — |
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Net Amount Recognized Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Obligation at prior measurement date $ 7,869 $ 1,954 $ 2,433 $ 1,125 $ 1,295 $ 435 $ 618 $ 264 Service cost 150 47 43 25 18 4 8 5 Interest cost 317 75 100 45 54 18 26 10 Actuarial loss 716 101 223 87 135 54 87 33 Transfers — 11 — — — — — — Benefits paid (731 ) (265 ) (191 ) (112 ) (78 ) (30 ) (46 ) (20 ) Obligation at measurement date $ 8,321 $ 1,923 $ 2,608 $ 1,170 $ 1,424 $ 481 $ 693 $ 292 Accumulated Benefit Obligation at measurement date $ 8,262 $ 1,923 $ 2,578 $ 1,170 $ 1,392 $ 471 $ 686 $ 292 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 8,233 $ 2,168 $ 2,606 $ 1,268 $ 1,322 $ 405 $ 611 $ 305 Employer contributions 77 7 57 4 53 2 2 1 Actual return on plan assets 1,331 342 426 204 218 66 100 49 Benefits paid (731 ) (265 ) (191 ) (112 ) (78 ) (30 ) (46 ) (20 ) Transfers — 11 — — — — — — Plan assets at measurement date $ 8,910 $ 2,263 $ 2,898 $ 1,364 $ 1,515 $ 443 $ 667 $ 335 Funded status of plan $ 589 $ 340 $ 290 $ 194 $ 91 $ (38 ) $ (26 ) $ 43 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Obligation at prior measurement date $ 8,448 $ 2,029 $ 2,637 $ 1,211 $ 1,410 $ 479 $ 669 $ 313 Service cost 174 56 49 28 21 5 10 7 Interest cost 299 72 94 43 50 17 23 11 Actuarial gain (485 ) (44 ) (204 ) (87 ) (114 ) (29 ) (29 ) (18 ) Transfers — — — — — — — (16 ) Benefits paid (567 ) (159 ) (143 ) (70 ) (72 ) (37 ) (55 ) (33 ) Obligation at measurement date $ 7,869 $ 1,954 $ 2,433 $ 1,125 $ 1,295 $ 435 $ 618 $ 264 Accumulated Benefit Obligation at measurement date $ 7,818 $ 1,954 $ 2,404 $ 1,125 $ 1,265 $ 425 $ 614 $ 264 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 9,003 $ 2,372 $ 2,814 $ 1,366 $ 1,429 $ 458 $ 684 $ 368 Employer contributions 141 46 45 25 20 — 8 — Actual return on plan assets (344 ) (91 ) (110 ) (53 ) (55 ) (16 ) (26 ) (14 ) Benefits paid (567 ) (159 ) (143 ) (70 ) (72 ) (37 ) (55 ) (33 ) Transfers — — — — — — — (16 ) Plan assets at measurement date $ 8,233 $ 2,168 $ 2,606 $ 1,268 $ 1,322 $ 405 $ 611 $ 305 Funded status of plan $ 364 $ 214 $ 173 $ 143 $ 27 $ (30 ) $ (7 ) $ 41 |
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Prefunded pension (a) $ 621 $ 340 $ 322 $ 194 $ 123 $ 38 $ 57 $ 43 Noncurrent pension liability (b) $ 32 $ — $ 32 $ — $ 32 $ 76 $ 83 $ — Net asset (liability) recognized $ 589 $ 340 $ 290 $ 194 $ 91 $ (38 ) $ (26 ) $ 43 Regulatory assets $ 1,972 $ 420 $ 717 $ 313 $ 404 $ 112 $ 204 $ 81 Accumulated other comprehensive (income) loss Deferred income tax benefit $ (23 ) $ — $ (1 ) $ — $ (1 ) $ — $ — $ — Prior service credit (3 ) — — — — — — — Net actuarial loss 111 — 3 — 3 — — — Net amounts recognized in accumulated other comprehensive loss $ 85 $ — $ 2 $ — $ 2 $ — $ — $ — Amounts to be recognized in net periodic pension costs in the next year Unrecognized net actuarial loss $ 135 $ 29 $ 43 $ 19 $ 24 $ 7 $ 10 $ 9 Unrecognized prior service credit (32 ) (8 ) (3 ) (2 ) (1 ) (1 ) (2 ) (9 ) December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Prefunded pension (a) $ 433 $ 214 $ 242 $ 143 $ 96 $ 24 $ 39 $ 41 Noncurrent pension liability (b) $ 69 $ — $ 69 $ — $ 69 $ 54 $ 46 $ — Net asset recognized $ 364 $ 214 $ 173 $ 143 $ 27 $ (30 ) $ (7 ) $ 41 Regulatory assets $ 2,184 $ 576 $ 796 $ 372 $ 424 $ 100 $ 182 $ 81 Accumulated other comprehensive (income) loss Deferred income tax benefit $ (43 ) $ — $ (2 ) $ — $ — $ — $ — $ — Prior service credit (4 ) — — — — — — — Net actuarial loss 126 — 5 — — — — — Net amounts recognized in accumulated other comprehensive loss $ 79 $ — $ 3 $ — $ — $ — $ — $ — Amounts to be recognized in net periodic pension costs in the next year Unrecognized net actuarial loss $ 97 $ 22 $ 37 $ 13 $ 24 $ 3 $ 5 $ 7 Unrecognized prior service credit $ (32 ) $ (8 ) $ (3 ) $ (2 ) $ (1 ) $ — $ (2 ) $ (9 ) (a) Included in Other within Other Noncurrent Assets 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, 2019 Duke Duke Energy Energy (in millions) Ohio Indiana Projected benefit obligation $ 155 $ 260 Accumulated benefit obligation 146 252 Fair value of plan assets 79 177 December 31, 2018 Duke Duke Duke Duke Progress Energy Energy Energy (in millions) Energy Energy Florida Ohio Indiana Projected benefit obligation $ 679 $ 679 $ 679 $ 123 $ 203 Accumulated benefit obligation 651 651 651 115 199 Fair value of plan assets 610 610 610 69 159 |
Assumptions Used for Pension Benefits Accounting | The following tables present the assumptions or range of assumptions used for pension benefit accounting. December 31, 2019 2018 2017 Benefit Obligations Discount rate 3.30% 4.30% 3.60% Salary increase 3.50 % – 4.00% 3.50 % – 4.00% 3.50 % – 4.00% Net Periodic Benefit Cost Discount rate 4.30% 3.60% 4.10% Salary increase 3.50 % – 4.00% 3.50 % – 4.00% 4.00 % – 4.50% Expected long-term rate of return on plan assets 6.85% 6.50% 6.50 % – 6.75% |
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 Piedmont Years ending December 31, 2020 $ 643 $ 167 $ 169 $ 89 $ 79 $ 37 $ 50 $ 28 2021 653 171 178 95 82 37 50 24 2022 649 177 176 92 84 37 49 22 2023 649 174 182 95 86 36 48 21 2024 638 168 184 96 87 35 48 20 2025-2029 2,851 714 871 419 448 156 220 87 |
Other Post-Retirement Benefit Plans | |
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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 4 $ 1 $ 1 $ — $ 1 $ — $ 1 $ — Interest cost on accumulated post-retirement benefit obligation 30 7 12 7 5 1 3 1 Expected return on plan assets (12 ) (7 ) — — — — — (1 ) Amortization of actuarial loss 4 2 1 — 1 — 4 — Amortization of prior service credit (19 ) (5 ) (8 ) (1 ) (7 ) (1 ) (1 ) (2 ) Net periodic post-retirement benefit costs (a)(b) $ 7 $ (2 ) $ 6 $ 6 $ — $ — $ 7 $ (2 ) Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 6 $ 1 $ 1 $ — $ 1 $ 1 $ 1 $ 1 Interest cost on accumulated post-retirement benefit obligation 28 7 12 6 6 1 3 1 Expected return on plan assets (13 ) (8 ) — — — — — (2 ) Amortization of actuarial loss 6 3 1 1 — — 4 — Amortization of prior service credit (19 ) (5 ) (8 ) (1 ) (7 ) (1 ) (1 ) (2 ) Net periodic post-retirement benefit costs (a)(b) $ 8 $ (2 ) $ 6 $ 6 $ — $ 1 $ 7 $ (2 ) Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 4 $ 1 $ — $ — $ — $ — $ — $ 1 Interest cost on accumulated post-retirement benefit obligation 34 8 13 7 6 1 3 1 Expected return on plan assets (14 ) (8 ) — — — — (1 ) (2 ) Amortization of actuarial loss (gain) 10 (2 ) 21 12 9 (2 ) (1 ) 1 Amortization of prior service credit (115 ) (10 ) (84 ) (54 ) (30 ) — (1 ) — Curtailment credit (c) (30 ) (4 ) (16 ) — (16 ) (2 ) (2 ) — Net periodic post-retirement benefit costs (a)(b) $ (111 ) $ (15 ) $ (66 ) $ (35 ) $ (31 ) $ (3 ) $ (2 ) $ 1 (a) Duke Energy amounts exclude $6 million , $7 million and $7 million for the years ended December 2019 , 2018 and 2017 , 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 $2 million , $2 million and $2 million for the years ended December 2019 , 2018 and 2017 , respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006. (c) Curtailment credit resulted from a reduction in average future service of plan participants due to a plan amendment. |
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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase (decrease) $ (127 ) $ — $ (127 ) $ (82 ) $ (45 ) $ — $ (5 ) $ — Regulatory liabilities, net increase (decrease) $ (152 ) $ 1 $ (149 ) $ (93 ) $ (56 ) $ (1 ) $ (4 ) $ 3 Accumulated other comprehensive (income) loss Deferred income tax benefit $ — $ — $ — $ — $ — $ — $ — $ — Amortization of prior year actuarial gain (4 ) — — — — — — — Net amount recognized in accumulated other comprehensive income $ (4 ) $ — $ — $ — $ — $ — $ — $ — Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Regulatory assets, net increase (decrease) $ 137 $ — $ 133 $ 84 $ 49 $ — $ (5 ) $ 4 Regulatory liabilities, net increase (decrease) $ 154 $ (6 ) $ 149 $ 93 $ 56 $ 2 $ 3 $ — Accumulated other comprehensive (income) loss Deferred income tax benefit $ (1 ) $ — $ — $ — $ — $ — $ — $ — Amortization of prior year prior service credit 1 — — — — — — — Net amount recognized in accumulated other comprehensive income $ — $ — $ — $ — $ — $ — $ — $ — |
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 728 $ 174 $ 303 $ 166 $ 137 $ 29 $ 67 $ 30 Service cost 4 1 1 — 1 — 1 — Interest cost 30 7 12 7 5 1 3 1 Plan participants' contributions 16 3 6 3 2 1 2 — Actuarial losses 28 9 13 9 5 1 2 — Transfers — — — — — — — — Benefits paid (83 ) (19 ) (32 ) (17 ) (15 ) (3 ) (11 ) (1 ) Accumulated post-retirement benefit obligation at measurement date $ 723 $ 175 $ 303 $ 168 $ 135 $ 29 $ 64 $ 30 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 195 $ 115 $ — $ — $ — $ 8 $ 5 $ 29 Actual return on plan assets 32 20 (1 ) — — 1 — 6 Benefits paid (83 ) (19 ) (32 ) (17 ) (15 ) (3 ) (11 ) (1 ) Employer contributions 60 11 26 13 13 2 9 — Plan participants' contributions 16 3 6 3 2 1 2 — Plan assets at measurement date $ 220 $ 130 $ (1 ) $ (1 ) $ — $ 9 $ 5 $ 34 Funded status of plan $ (503 ) $ (45 ) $ (304 ) $ (169 ) $ (135 ) $ (20 ) $ (59 ) $ 4 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Change in Projected Benefit Obligation Accumulated post-retirement benefit obligation at prior measurement date $ 813 $ 189 $ 342 $ 184 $ 156 $ 30 $ 78 $ 32 Service cost 6 1 1 — 1 1 1 1 Interest cost 28 7 12 6 6 1 3 1 Plan participants' contributions 18 3 6 4 3 1 2 — Actuarial losses (gains) (51 ) (8 ) (23 ) (9 ) (13 ) (2 ) (5 ) (1 ) Transfers — — — — — — — (1 ) Benefits paid (86 ) (18 ) (35 ) (19 ) (16 ) (2 ) (12 ) (2 ) Accumulated post-retirement benefit obligation at measurement date $ 728 $ 174 $ 303 $ 166 $ 137 $ 29 $ 67 $ 30 Change in Fair Value of Plan Assets Plan assets at prior measurement date $ 225 $ 133 $ — $ — $ — $ 7 $ 11 $ 31 Actual return on plan assets (8 ) (5 ) — — — — — (1 ) Benefits paid (86 ) (18 ) (35 ) (19 ) (16 ) (2 ) (12 ) (2 ) Employer contributions (reimbursements) 46 2 29 15 13 2 4 1 Plan participants' contributions 18 3 6 4 3 1 2 — Plan assets at measurement date $ 195 $ 115 $ — $ — $ — $ 8 $ 5 $ 29 Funded status of plan $ (533 ) $ (59 ) $ (303 ) $ (166 ) $ (137 ) $ (21 ) $ (62 ) $ (1 ) |
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current post-retirement liability (a) $ 9 $ — $ 5 $ 3 $ 2 $ 1 $ — $ — Noncurrent post-retirement liability (b) 494 45 299 166 133 19 59 (4 ) Total accrued post-retirement liability $ 503 $ 45 $ 304 $ 169 $ 135 $ 20 $ 59 $ (4 ) Regulatory assets $ 135 $ — $ 135 $ 82 $ 53 $ — $ 36 $ — Regulatory liabilities $ 149 $ 39 $ — $ — $ — $ 17 $ 63 $ 3 Accumulated other comprehensive (income) loss Deferred income tax expense $ 3 $ — $ — $ — $ — $ — $ — $ — Prior service credit (2 ) — — — — — — — Net actuarial gain (13 ) — — — — — — — Net amounts recognized in accumulated other comprehensive income $ (12 ) $ — $ — $ — $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss $ 5 $ 3 $ 1 $ — $ 1 $ — $ — $ — Unrecognized prior service credit (14 ) (4 ) (3 ) (1 ) (2 ) (1 ) (1 ) (2 ) December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current post-retirement liability (a) $ 8 $ — $ 5 $ 3 $ 2 $ 2 $ — $ — Noncurrent post-retirement liability (b) 525 59 298 163 135 19 62 1 Total accrued post-retirement liability $ 533 $ 59 $ 303 $ 166 $ 137 $ 21 $ 62 $ 1 Regulatory assets $ 262 $ — $ 262 $ 164 $ 98 $ — $ 41 $ — Regulatory liabilities $ 301 $ 38 $ 149 $ 93 $ 56 $ 18 $ 67 $ — Accumulated other comprehensive (income) loss Deferred income tax expense $ 3 $ — $ — $ — $ — $ — $ — $ — Prior service credit (2 ) — — — — — — — Net actuarial gain (9 ) — — — — — — — Net amounts recognized in accumulated other comprehensive income $ (8 ) $ — $ — $ — $ — $ — $ — $ — Amounts to be recognized in net periodic pension expense in the next year Unrecognized net actuarial loss (gain) $ 4 $ 2 $ 1 $ — $ — $ — $ — $ — Unrecognized prior service credit (19 ) (5 ) (7 ) (1 ) (6 ) (1 ) (1 ) (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. |
Assumptions Used for Pension Benefits Accounting | The following tables present the assumptions used for other post-retirement benefits accounting. December 31, 2019 2018 2017 Benefit Obligations Discount rate 3.30 % 4.30 % 3.60 % Net Periodic Benefit Cost Discount rate 4.30 % 3.60 % 4.10 % Expected long-term rate of return on plan assets 6.85 % 6.50 % 6.50 % Assumed tax rate 23 % 35 % 35 % |
Assumed Health Care Cost Trend Rate | Assumed Health Care Cost Trend Rate December 31, 2019 2018 Health care cost trend rate assumed for next year 6.00 % 6.50 % Rate to which the cost trend is assumed to decline (the ultimate trend rate) 4.75 % 4.75 % Year that rate reaches ultimate trend 2026 2024 |
Sensitivity to Changes in Assumed Health Care Cost Trend Rates | Sensitivity to Changes in Assumed Health Care Cost Trend Rates Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont 1-Percentage Point Increase Effect on total service and interest costs $ 1 $ — $ 1 $ 1 $ — $ — $ — $ — Effect on post-retirement benefit obligation 22 5 9 5 4 1 2 1 1-Percentage Point Decrease Effect on total service and interest costs (1 ) — (1 ) (1 ) — — — — Effect on post-retirement benefit obligation (20 ) (5 ) (8 ) (4 ) (4 ) (1 ) (2 ) (1 ) |
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 Piedmont Years ending December 31, 2020 $ 76 $ 18 $ 29 $ 16 $ 13 $ 4 $ 8 $ 2 2021 70 17 28 15 13 3 7 2 2022 66 16 27 14 12 3 7 2 2023 63 15 25 14 12 3 6 2 2024 59 15 24 13 11 3 6 2 2025-2029 246 60 101 55 46 11 23 11 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | Components of Income Tax Expense Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current income taxes Federal $ (299 ) $ 164 $ (173 ) $ (36 ) $ (43 ) $ (41 ) $ (23 ) $ (92 ) State 10 13 (7 ) (3 ) 18 (1 ) 1 (1 ) Foreign 2 — — — — — — — Total current income taxes (287 ) 177 (180 ) (39 ) (25 ) (42 ) (22 ) (93 ) Deferred income taxes Federal 855 175 422 220 153 77 128 133 State (38 ) (37 ) 17 (18 ) 27 5 28 3 Total deferred income taxes (a) 817 138 439 202 180 82 156 136 ITC amortization (11 ) (4 ) (6 ) (6 ) — — — — Income tax expense from continuing operations 519 311 253 157 155 40 134 43 Tax benefit from discontinued operations (2 ) — — — — — — — Total income tax expense included in Consolidated Statements of Operations $ 517 $ 311 $ 253 $ 157 $ 155 $ 40 $ 134 $ 43 (a) Total deferred income taxes includes the generation of tax credit carryforwards of $8 million at Duke Energy Carolinas. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $243 million at Progress Energy, $35 million at Duke Energy Progress, $152 million at Duke Energy Florida, $25 million at Duke Energy Ohio, $60 million at Duke Energy Indiana, $90 million at Piedmont and $775 million at Duke Energy. Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current income taxes Federal $ (647 ) $ (8 ) $ (135 ) $ (71 ) $ (49 ) $ 20 $ 29 $ 67 State (11 ) 6 (5 ) (5 ) (10 ) (1 ) 3 1 Foreign 3 — — — — — — — Total current income taxes (655 ) (2 ) (140 ) (76 ) (59 ) 19 32 68 Deferred income taxes Federal 1,064 299 341 256 115 21 74 (36 ) State 49 11 20 (17 ) 45 3 22 5 Total deferred income taxes (a)(b) 1,113 310 361 239 160 24 96 (31 ) ITC amortization (10 ) (5 ) (3 ) (3 ) — — — — Income tax expense from continuing operations 448 303 218 160 101 43 128 37 Tax benefit from discontinued operations (26 ) — — — — — — — Total income tax expense included in Consolidated Statements of Operations $ 422 $ 303 $ 218 $ 160 $ 101 $ 43 $ 128 $ 37 (a) Includes benefits of NOL carryforwards and tax credit carryforwards of $22 million at Duke Energy Carolinas, $293 million at Progress Energy, $59 million at Duke Energy Progress, $219 million at Duke Energy Florida, $17 million at Duke Energy Ohio, $21 million at Duke Energy Indiana and $39 million at Piedmont. In addition, total deferred income taxes includes utilization of NOL carryforwards and tax credit carryforwards of $18 million at Duke Energy. (b) For the year ended December 31, 2018, the Company has revised the December 31, 2017, estimates of the income tax effects of the Tax Act, in accordance with SAB 118. See the Statutory Rate Reconciliation section below for additional information on the Tax Act's impact on income tax expense. Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current income taxes Federal $ (247 ) $ 221 $ (436 ) $ (95 ) $ (188 ) $ (37 ) $ 128 $ (90 ) State 4 20 (5 ) 2 (11 ) 2 21 (3 ) Foreign 3 — — — — — — — Total current income taxes (240 ) 241 (441 ) (93 ) (199 ) (35 ) 149 (93 ) Deferred income taxes Federal 1,344 381 664 378 194 99 138 147 State 102 35 44 10 51 (4 ) 14 8 Total deferred income taxes (a)(b) 1,446 416 708 388 245 95 152 155 ITC amortization (10 ) (5 ) (3 ) (3 ) — (1 ) — — Income tax expense from continuing operations 1,196 652 264 292 46 59 301 62 Tax benefit from discontinued operations (6 ) — — — — — — — Total income tax expense included in Consolidated Statements of Operations $ 1,190 $ 652 $ 264 $ 292 $ 46 $ 59 $ 301 $ 62 (a) Includes utilization of NOL carryforwards and tax credit carryforwards of $428 million at Duke Energy, $74 million at Progress Energy, $36 million at Duke Energy Florida, $17 million at Duke Energy Ohio, $42 million at Duke Energy Indiana and $79 million at Piedmont. In addition, total deferred income taxes includes benefits of NOL carryforwards and tax credit carryforwards of $10 million at Duke Energy Carolinas and $1 million at Duke Energy Progress. (b) As a result of the Tax Act, Duke Energy's deferred tax assets and liabilities were revalued as of December 31, 2017. See the Statutory Rate Reconciliation section below for additional information on the Tax Act's impact on income tax expense. |
Schedule of Income before Income Tax, Domestic and Foreign | Duke Energy Income from Continuing Operations before Income Taxes Years Ended December 31, (in millions) 2019 2018 2017 Domestic (a) $ 4,053 $ 3,018 $ 4,207 Foreign 44 55 59 Income from continuing operations before income taxes $ 4,097 $ 3,073 $ 4,266 (a) Includes a $16 million expense in 2017 related to the Tax Act impact on equity earnings included within Equity in earnings of unconsolidated affiliates on the Consolidated Statement of Operations. |
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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Income tax expense, computed at the statutory rate of 21% $ 860 $ 360 $ 332 $ 202 $ 178 $ 59 $ 120 $ 51 State income tax, net of federal income tax effect (22 ) (19 ) 8 (17 ) 35 3 22 2 Amortization of excess deferred income tax (121 ) (29 ) (64 ) (10 ) (54 ) (12 ) (6 ) (10 ) AFUDC equity income (52 ) (9 ) (14 ) (13 ) (1 ) (3 ) (3 ) — AFUDC equity depreciation 34 19 10 5 5 1 4 — Renewable energy PTCs (120 ) — — — — — — — Other tax credits (23 ) (11 ) (9 ) (7 ) (2 ) (1 ) (1 ) (1 ) Tax true up (64 ) (9 ) (8 ) (3 ) (5 ) (7 ) (1 ) — Other items, net 27 9 (2 ) — (1 ) — (1 ) 1 Income tax expense from continuing operations $ 519 $ 311 $ 253 $ 157 $ 155 $ 40 $ 134 $ 43 Effective tax rate 12.7 % 18.1 % 16.0 % 16.3 % 18.3 % 14.3 % 23.5 % 17.6 % Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Income tax expense, computed at the statutory rate of 21% $ 645 $ 288 $ 263 $ 174 $ 137 $ 46 $ 109 $ 35 State income tax, net of federal income tax effect 30 14 13 (17 ) 28 2 20 4 Amortization of excess deferred income tax (61 ) — (55 ) (1 ) (54 ) (3 ) (2 ) — AFUDC equity income (42 ) (15 ) (22 ) (12 ) (10 ) (2 ) (2 ) — AFUDC equity depreciation 31 18 9 5 4 1 4 — Renewable energy PTCs (129 ) — — — — — — — Other tax credits (28 ) (7 ) (13 ) (5 ) (8 ) (1 ) (1 ) (3 ) Tax Act (a) 20 1 25 19 — 2 — — Other items, net (18 ) 4 (2 ) (3 ) 4 (2 ) — 1 Income tax expense from continuing operations $ 448 $ 303 $ 218 $ 160 $ 101 $ 43 $ 128 $ 37 Effective tax rate 14.6 % 22.1 % 17.4 % 19.3 % 15.4 % 19.6 % 24.6 % 22.3 % (a) For the year ended December 31, 2018, the Company revised the December 31, 2017 estimates of the income tax effects of the Tax Act, in accordance with SAB 118. Amounts primarily include but are not limited to items that are excluded for ratemaking purposes related certain wholesale fixed rate contracts, remeasurement of nonregulated net deferred tax liabilities, Federal NOLs, and valuation allowance on foreign tax credits. Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Income tax expense, computed at the statutory rate of 35% $ 1,493 $ 653 $ 536 $ 353 $ 265 $ 88 $ 229 $ 70 State income tax, net of federal income tax effect 69 36 25 8 26 (1 ) 23 3 AFUDC equity income (81 ) (37 ) (32 ) (17 ) (16 ) (4 ) (8 ) — Renewable energy PTCs (132 ) — — — — — — — Tax Act (a) (112 ) 15 (246 ) (40 ) (226 ) (23 ) 55 (12 ) Tax true up (52 ) (24 ) (19 ) (13 ) (7 ) (5 ) (6 ) — Other items, net 11 9 — 1 4 4 8 1 Income tax expense from continuing operations $ 1,196 $ 652 $ 264 $ 292 $ 46 $ 59 $ 301 $ 62 Effective tax rate 28.0 % 34.9 % 17.2 % 29.0 % 6.1 % 23.4 % 46.0 % 30.8 % (a) Amounts primarily include but are not limited to items that are excluded for ratemaking purposes related to abandoned or impaired assets, certain wholesale fixed rate contracts, remeasurement of nonregulated net deferred tax liabilities, Federal NOLs, and valuation allowance on foreign tax credits. |
Schedule of Deferred Tax Assets and Liabilities | Net Deferred Income Tax Liability Components December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Deferred credits and other liabilities $ 125 $ 24 $ 25 $ 49 $ — $ 14 $ 5 $ 22 Lease obligations 462 72 193 92 102 5 17 6 Pension, post-retirement and other employee benefits 303 (5 ) 88 38 44 17 27 (3 ) Progress Energy merger purchase accounting adjustments (a) 389 — — — — — — — Tax credits and NOL carryforwards 3,925 262 486 176 253 16 176 19 Regulatory liabilities and deferred credits — — — — — 36 52 42 Investments and other assets — — — — — 10 — 2 Other 97 5 8 3 2 8 1 6 Valuation allowance (587 ) — — — — — — — Total deferred income tax assets 4,714 358 800 358 401 106 278 94 Investments and other assets (1,664 ) (981 ) (577 ) (390 ) (190 ) — (12 ) — Accelerated depreciation rates (10,813 ) (3,254 ) (3,798 ) (1,918 ) (1,913 ) (1,028 ) (1,416 ) (802 ) Regulatory assets and deferred debits, net (1,115 ) (44 ) (887 ) (438 ) (477 ) — — — Total deferred income tax liabilities (13,592 ) (4,279 ) (5,262 ) (2,746 ) (2,580 ) (1,028 ) (1,428 ) (802 ) Net deferred income tax liabilities $ (8,878 ) $ (3,921 ) $ (4,462 ) $ (2,388 ) $ (2,179 ) $ (922 ) $ (1,150 ) $ (708 ) (a) Primarily related to finance lease obligations and debt fair value adjustments. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Deferred credits and other liabilities $ 164 $ 64 $ 35 $ 53 $ — $ 17 $ 6 $ 17 Finance lease obligations 60 26 — — — — 2 — Pension, post-retirement and other employee benefits 347 24 110 47 58 16 24 (1 ) Progress Energy merger purchase accounting adjustments (a) 483 — — — — — — — Tax credits and NOL carryforwards 4,580 257 693 215 363 42 237 110 Regulatory liabilities and deferred credits — — — — — 56 — 48 Investments and other assets — — — — — 18 — 16 Other 25 6 5 5 — 1 (1 ) — Valuation allowance (484 ) — — — — — — — Total deferred income tax assets 5,175 377 843 320 421 150 268 190 Investments and other assets (1,317 ) (795 ) (430 ) (272 ) (163 ) — (5 ) — Accelerated depreciation rates (10,124 ) (3,207 ) (3,369 ) (1,735 ) (1,670 ) (967 ) (1,081 ) (733 ) Regulatory assets and deferred debits, net (1,540 ) (64 ) (985 ) (432 ) (574 ) — (191 ) — Other — — — — — — — (8 ) Total deferred income tax liabilities (12,981 ) (4,066 ) (4,784 ) (2,439 ) (2,407 ) (967 ) (1,277 ) (741 ) Net deferred income tax liabilities $ (7,806 ) $ (3,689 ) $ (3,941 ) $ (2,119 ) $ (1,986 ) $ (817 ) $ (1,009 ) $ (551 ) (a) Primarily related to finance 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, 2019 (in millions) Amount Expiration Year General Business Credits $ 1,821 2024 — 2039 AMT credits 286 Refundable by 2021 Federal NOL carryforwards (a) (f) 169 2024 — Indefinite Capital loss carryforward (e) 87 2024 State carryforwards and credits (b) (f) 303 2020 — Indefinite Foreign NOL carryforwards (c) 12 2027 — 2037 Foreign Tax Credits (d) 1,237 2024 — 2027 Charitable contribution carryforwards 10 2020 — 2024 Total tax credits and NOL carryforwards $ 3,925 (a) A valuation allowance of $4 million has been recorded on the Federal NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (b) A valuation allowance of $97 million has been recorded on the state NOL and credit carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (c) A valuation allowance of $12 million has been recorded on the foreign NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table. (d) A valuation allowance of $387 million has been recorded on the foreign tax credits, as presented in the Net Deferred Income Tax Liability Components table. (e) A valuation allowance of $87 million has been recorded on the Federal capital loss carryforward, as presented in the Net Deferred Income Tax Liability Components table. (f) Indefinite carryforward for Federal NOLs, and NOLs for states that have adopted the Tax Act's NOL provisions, generated in tax years beginning after December 31, 2017. December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Deferred credits and other liabilities $ 164 $ 64 $ 35 $ 53 $ — $ 17 $ 6 $ 17 Finance lease obligations 60 26 — — — — 2 — Pension, post-retirement and other employee benefits 347 24 110 47 58 16 24 (1 ) Progress Energy merger purchase accounting adjustments (a) 483 — — — — — — — Tax credits and NOL carryforwards 4,580 257 693 215 363 42 237 110 Regulatory liabilities and deferred credits — — — — — 56 — 48 Investments and other assets — — — — — 18 — 16 Other 25 6 5 5 — 1 (1 ) — Valuation allowance (484 ) — — — — — — — Total deferred income tax assets 5,175 377 843 320 421 150 268 190 Investments and other assets (1,317 ) (795 ) (430 ) (272 ) (163 ) — (5 ) — Accelerated depreciation rates (10,124 ) (3,207 ) (3,369 ) (1,735 ) (1,670 ) (967 ) (1,081 ) (733 ) Regulatory assets and deferred debits, net (1,540 ) (64 ) (985 ) (432 ) (574 ) — (191 ) — Other — — — — — — — (8 ) Total deferred income tax liabilities (12,981 ) (4,066 ) (4,784 ) (2,439 ) (2,407 ) (967 ) (1,277 ) (741 ) Net deferred income tax liabilities $ (7,806 ) $ (3,689 ) $ (3,941 ) $ (2,119 ) $ (1,986 ) $ (817 ) $ (1,009 ) $ (551 ) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following tables present changes to unrecognized tax benefits. Year Ended December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unrecognized tax benefits – January 1 $ 24 $ 6 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 Unrecognized tax benefit increases 105 2 1 1 — — — — Gross decreases – tax positions in prior periods (3 ) — (1 ) (1 ) — — — — Total changes 102 2 — — — — — — Unrecognized tax benefits – December 31 $ 126 $ 8 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unrecognized tax benefits – January 1 $ 25 $ 5 $ 5 $ 5 $ 5 $ 1 $ 1 $ 3 Unrecognized tax benefits increases (decreases) Gross decreases – tax positions in prior periods (2 ) (1 ) — — (4 ) — — — Gross increases – tax positions in prior periods 7 2 4 1 2 — — 1 Decreases due to settlements (6 ) — — — — — — — Total changes (1 ) 1 4 1 (2 ) — — 1 Unrecognized tax benefits – December 31 $ 24 $ 6 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unrecognized tax benefits – January 1 $ 17 $ 1 $ 2 $ 2 $ 4 $ 4 $ — $ — Unrecognized tax benefits increases (decreases) Gross increases – tax positions in prior periods 12 4 3 3 1 1 1 3 Gross decreases – tax positions in prior periods (4 ) — — — — (4 ) — — Total changes 8 4 3 3 1 (3 ) 1 3 Unrecognized tax benefits – December 31 $ 25 $ 5 $ 5 $ 5 $ 5 $ 1 $ 1 $ 3 |
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, 2019 Duke Duke Progress Energy (in millions) Energy Energy Progress Piedmont Net interest income recognized related to income taxes $ 16 $ 1 $ 1 $ — Interest receivable related to income taxes 1 — — — Interest payable related to income taxes 1 — — 1 Year Ended December 31, 2018 Duke Duke Progress Energy (in millions) Energy Energy Progress Net interest income recognized related to income taxes $ 2 $ — $ — Interest payable related to income taxes 3 1 1 Year Ended December 31, 2017 Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Net interest income recognized related to income taxes $ — $ — $ 1 $ — $ 1 Net interest expense recognized related to income taxes — 2 — — — Interest payable related to income taxes 5 25 1 1 — The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2019 . It is reasonably possible that Duke Energy will reflect a $3 million decrease in unrecognized tax benefits within the next 12 months. December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Amount that if recognized, would affect the effective tax rate or regulatory liability (a) $ 122 $ 8 $ 9 $ 6 $ 3 $ 1 $ 1 $ 4 (a) The Duke Energy Registrants are unable to estimate the specific amounts that would affect the effective tax rate versus the regulatory liability. |
Other Income and Expenses, Net
Other Income and Expenses, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
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, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Interest income $ 31 $ 1 $ 11 $ — $ 11 $ 10 $ 10 $ 1 AFUDC equity 139 42 66 60 6 13 18 — Post in-service equity returns 29 20 7 7 — 1 — — Nonoperating income, other 231 88 57 33 31 — 13 19 Other income and expense, net $ 430 $ 151 $ 141 $ 100 $ 48 $ 24 $ 41 $ 20 Year Ended December 31, 2018 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Interest income $ 20 $ 1 $ 18 $ 1 $ 18 $ 7 $ 9 $ 1 AFUDC equity 221 73 104 57 47 11 32 — Post in-service equity returns 15 9 5 5 — 1 — — Nonoperating income, other 143 70 38 24 21 4 4 13 Other income and expense, net $ 399 $ 153 $ 165 $ 87 $ 86 $ 23 $ 45 $ 14 Year Ended December 31, 2017 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Interest income $ 13 $ 2 $ 6 $ 2 $ 5 $ 6 $ 8 $ — AFUDC equity 237 106 92 47 45 11 28 — Post in-service equity returns 40 28 12 12 — — — — Nonoperating income, other 218 63 99 54 46 6 11 (11 ) Other income and expense, net $ 508 $ 199 $ 209 $ 115 $ 96 $ 23 $ 47 $ (11 ) |
Quarterly Financial Data (Una_2
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 2019 Operating revenues $ 6,163 $ 5,873 $ 6,940 $ 6,103 $ 25,079 Operating income 1,373 1,298 1,929 1,109 5,709 Income from continuing operations 893 748 1,323 614 3,578 Loss from discontinued operations, net of tax — — — (7 ) (7 ) Net income 893 748 1,323 607 3,571 Net income available to Duke Energy Corporation common stockholders 900 820 1,327 660 3,707 Earnings per share: Income from continuing operations available to Duke Energy Corporation common stockholders Basic and diluted $ 1.24 $ 1.12 $ 1.82 $ 0.89 $ 5.07 Loss from discontinued operations attributable to Duke Energy Corporation common stockholders Basic and diluted $ — $ — $ — $ (0.01 ) $ (0.01 ) Net income available to Duke Energy Corporation common stockholders Basic and diluted $ 1.24 $ 1.12 $ 1.82 $ 0.88 $ 5.06 2018 Operating revenues $ 6,135 $ 5,643 $ 6,628 $ 6,115 $ 24,521 Operating income 1,256 979 1,579 871 4,685 Income from continuing operations 622 507 1,062 434 2,625 (Loss) Income from discontinued operations, net of tax — (5 ) 4 20 19 Net income 622 502 1,066 454 2,644 Net income attributable to Duke Energy Corporation 620 500 1,082 464 2,666 Earnings per share: Income from continuing operations attributable to Duke Energy Corporation common stockholders Basic and diluted $ 0.88 $ 0.72 $ 1.51 $ 0.62 $ 3.73 (Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders Basic and diluted $ — $ (0.01 ) $ — $ 0.03 $ 0.03 Net income attributable to Duke Energy Corporation common stockholders Basic and diluted $ 0.88 $ 0.71 $ 1.51 $ 0.65 $ 3.76 |
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 2019 Impairment Charges (see Notes 4 and 13) $ — $ — $ 25 $ (14 ) $ 11 Total $ — $ — $ 25 $ (14 ) $ 11 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (17 ) $ (20 ) $ (16 ) $ (31 ) $ (84 ) Regulatory and Legislative Impacts (see Note 4) (86 ) (179 ) — — (265 ) Sale of Retired Plant (see Note 3) (107 ) — — — (107 ) Impairment Charges (see Notes 4, 12 and 13) (55 ) — (93 ) (60 ) (208 ) Severance Charges (see Note 21) — — — (187 ) (187 ) Impacts of the Tax Act (see Note 24) (76 ) — 3 53 (20 ) Total $ (341 ) $ (199 ) $ (106 ) $ (225 ) $ (871 ) |
Duke Energy Carolinas | |
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 2019 Operating revenues $ 1,744 $ 1,713 $ 2,162 $ 1,776 $ 7,395 Operating income 435 451 793 347 2,026 Net income 293 301 590 219 1,403 2018 Operating revenues $ 1,763 $ 1,672 $ 2,090 $ 1,775 $ 7,300 Operating income 482 224 713 241 1,660 Net income 323 117 496 135 1,071 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (4 ) $ (2 ) $ (2 ) $ (1 ) $ (9 ) Regulatory and Legislative Impacts (see Note 4) (19 ) (179 ) — — (198 ) Severance Charges (see Note 21) — — — (102 ) (102 ) Impacts of the Tax Act (see Note 24) — — (1 ) — (1 ) Total $ (23 ) $ (181 ) $ (3 ) $ (103 ) $ (310 ) |
Progress Energy | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | PROGRESS ENERGY First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 2,572 $ 2,744 $ 3,242 $ 2,644 $ 11,202 Operating income 488 580 786 447 2,301 Net income 248 329 521 229 1,327 Net income attributable to Parent 249 328 521 229 1,327 2018 Operating revenues $ 2,576 $ 2,498 $ 3,045 $ 2,609 $ 10,728 Operating income 447 484 663 334 1,928 Net income 237 267 406 123 1,033 Net income attributable to Parent 235 265 404 123 1,027 |
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 2019 Impairment Charges (see Note 4) $ — $ — $ 25 $ 11 $ 36 Total $ — $ — $ 25 $ 11 $ 36 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (4 ) $ (3 ) $ (1 ) $ (2 ) $ (10 ) Regulatory and Legislative Impacts (see Note 4) (67 ) — — — (67 ) Impairment Charges (see Note 4) — — — (60 ) (60 ) Severance Charges (see Note 21) — — — (69 ) (69 ) Impacts of the Tax Act (see Note 24) (1 ) — (5 ) (19 ) (25 ) Total $ (72 ) $ (3 ) $ (6 ) $ (150 ) $ (231 ) |
Duke Energy Progress | |
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 2019 Operating revenues $ 1,484 $ 1,387 $ 1,688 $ 1,398 $ 5,957 Operating income 300 259 373 236 1,168 Net income 203 169 278 155 805 2018 Operating revenues $ 1,460 $ 1,291 $ 1,582 $ 1,366 $ 5,699 Operating income 269 233 330 227 1,059 Net income 177 139 216 135 667 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (2 ) $ (2 ) $ (1 ) $ (1 ) $ (6 ) Regulatory and Legislative Impacts (see Note 4) (67 ) — — — (67 ) Severance Charges (see Note 21) — — — (52 ) (52 ) Impacts of the Tax Act (see Note 24) — — (4 ) (15 ) (19 ) Total $ (69 ) $ (2 ) $ (5 ) $ (68 ) $ (144 ) |
Duke Energy Florida | |
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 2019 Operating revenues $ 1,086 $ 1,353 $ 1,548 $ 1,244 $ 5,231 Operating income 188 321 413 205 1,127 Net income 96 201 289 106 692 2018 Operating revenues $ 1,115 $ 1,203 $ 1,462 $ 1,241 $ 5,021 Operating income 173 245 331 107 856 Net income 103 168 243 40 554 |
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 2019 Impairment Charges (see Note 4) $ — $ — $ 25 $ 11 $ 36 Total $ — $ — $ 25 $ 11 $ 36 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (2 ) $ (1 ) $ — $ (1 ) $ (4 ) Impairment Charges (see Note 4) — — — (60 ) (60 ) Severance Charges (see Note 21) — — — (17 ) (17 ) Impacts of the Tax Act (see Note 24) — — (2 ) 2 — Total $ (2 ) $ (1 ) $ (2 ) $ (76 ) $ (81 ) |
Duke Energy Ohio | |
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 2019 Operating revenues $ 531 $ 433 $ 489 $ 487 $ 1,940 Operating income 104 74 108 78 364 Net income 69 47 74 48 238 2018 Operating revenues $ 524 $ 459 $ 469 $ 505 $ 1,957 Operating (loss) income (21 ) 77 139 93 288 Net (loss) income (25 ) 46 100 55 176 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (3 ) $ (5 ) $ — $ (6 ) $ (14 ) Sale of Retired Plant (see Note 3) (107 ) — — — (107 ) Severance Charges (see Note 21) — — — (6 ) (6 ) Impacts of the Tax Act (see Note 24) — — — (2 ) (2 ) Total $ (110 ) $ (5 ) $ — $ (14 ) $ (129 ) |
Duke Energy Indiana | |
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 2019 Operating revenues $ 768 $ 714 $ 807 $ 715 $ 3,004 Operating income 169 148 235 133 685 Net income 110 97 156 73 436 2018 Operating revenues $ 731 $ 738 $ 819 $ 771 $ 3,059 Operating income 168 169 173 133 643 Net income 100 98 119 76 393 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ — $ — $ (2 ) $ — $ (2 ) Severance Charges (see Note 21) — — — (7 ) (7 ) Total $ — $ — $ (2 ) $ (7 ) $ (9 ) |
Piedmont | |
Quarterly Financial Information Disclosure [Line Items] | |
Schedule Of Quarterly Financial Information | First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2019 Operating revenues $ 579 $ 209 $ 168 $ 425 $ 1,381 Operating income (loss) 172 6 (13 ) 139 304 Net income (loss) 122 (7 ) (18 ) 105 202 2018 Operating revenues $ 553 $ 215 $ 172 $ 435 $ 1,375 Operating income (loss) 161 5 (19 ) 79 226 Net income (loss) 110 (8 ) (21 ) 48 129 |
Schedule Of Unusual Or Infrequently Occurring Items | The following table includes unusual or infrequently occurring items in each quarter during 2018. There were no unusual or infrequently occurring items for the year ended December 31, 2019. All amounts discussed below are pretax. First Second Third Fourth (in millions) Quarter Quarter Quarter Quarter Total 2018 Costs to Achieve Piedmont Merger (see Note 2) $ (6 ) $ (9 ) $ (11 ) $ (22 ) $ (48 ) Severance Charges (see Note 21) — — — (2 ) (2 ) Total $ (6 ) $ (9 ) $ (11 ) $ (24 ) $ (50 ) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Other Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current Assets | ||
Organization And Basis Of Presentation [Line Items] | ||
Taxes receivable | $ 357 | $ 729 |
Current Liabilities | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 862 | 793 |
Duke Energy Carolinas | Current Liabilities | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 271 | 251 |
Other accrued liabilities | 147 | 55 |
Progress Energy | Current Liabilities | ||
Organization And Basis Of Presentation [Line Items] | ||
Customer deposits | 354 | 345 |
Duke Energy Florida | Current Liabilities | ||
Organization And Basis Of Presentation [Line Items] | ||
Other accrued liabilities | 89 | 85 |
Customer deposits | 209 | 208 |
Duke Energy Indiana | Current Assets | ||
Organization And Basis Of Presentation [Line Items] | ||
Taxes receivable | 44 | 9 |
Duke Energy Indiana | Current Liabilities | ||
Organization And Basis Of Presentation [Line Items] | ||
Customer deposits | $ 49 | $ 47 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($)MW | |
Accounting Policies [Abstract] | |
Sale of noncontrolling interest | $ 428 |
Plant capacity sold (in MW) | MW | 718 |
Allocation of losses to noncontrolling tax equity members | $ 165 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||||
Cash and cash equivalents | $ 311 | $ 442 | ||
Other | 222 | 141 | ||
Other Noncurrent Assets | ||||
Other | 40 | 8 | ||
Total cash, cash equivalents and restricted cash | 573 | 591 | $ 505 | $ 541 |
Progress Energy | ||||
Current Assets | ||||
Cash and cash equivalents | 48 | 67 | ||
Other | 39 | 39 | ||
Other Noncurrent Assets | ||||
Other | 39 | 6 | ||
Total cash, cash equivalents and restricted cash | 126 | 112 | 87 | 110 |
Duke Energy Florida | ||||
Current Assets | ||||
Cash and cash equivalents | 17 | 36 | ||
Other | 39 | 39 | ||
Other Noncurrent Assets | ||||
Other | 0 | 0 | ||
Total cash, cash equivalents and restricted cash | $ 56 | $ 75 | $ 53 | $ 69 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Inventory) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | $ 2,297 | $ 2,238 |
Coal | 586 | 491 |
Natural gas, oil, other | 349 | 355 |
Total inventory | 3,232 | 3,084 |
Duke Energy Carolinas | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 768 | 731 |
Coal | 187 | 175 |
Natural gas, oil, other | 41 | 42 |
Total inventory | 996 | 948 |
Progress Energy | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 1,038 | 1,049 |
Coal | 186 | 192 |
Natural gas, oil, other | 199 | 218 |
Total inventory | 1,423 | 1,459 |
Duke Energy Progress | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 686 | 734 |
Coal | 138 | 106 |
Natural gas, oil, other | 110 | 114 |
Total inventory | 934 | 954 |
Duke Energy Florida | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 351 | 315 |
Coal | 48 | 86 |
Natural gas, oil, other | 90 | 103 |
Total inventory | 489 | 504 |
Duke Energy Ohio | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 79 | 84 |
Coal | 15 | 14 |
Natural gas, oil, other | 41 | 28 |
Total inventory | 135 | 126 |
Duke Energy Indiana | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 318 | 312 |
Coal | 198 | 109 |
Natural gas, oil, other | 1 | 1 |
Total inventory | 517 | 422 |
Piedmont | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 5 | 2 |
Natural gas, oil, other | 67 | 68 |
Total inventory | $ 72 | $ 70 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 3.10% | 3.00% | 2.80% |
Duke Energy Carolinas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.80% | 2.80% | 2.80% |
Progress Energy | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 3.10% | 2.90% | 2.60% |
Duke Energy Progress | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 3.10% | 2.90% | 2.60% |
Duke Energy Florida | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 3.10% | 3.00% | 2.80% |
Duke Energy Ohio | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.60% | 2.80% | 2.80% |
Duke Energy Indiana | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 3.30% | 3.30% | 3.00% |
Piedmont | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.40% | 2.50% | 2.30% |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies (Excise Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | $ 421 | $ 405 | $ 376 |
Duke Energy Carolinas | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 39 | 35 | 36 |
Progress Energy | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 256 | 241 | 220 |
Duke Energy Progress | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 21 | 19 | 19 |
Duke Energy Florida | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 235 | 222 | 201 |
Duke Energy Ohio | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 101 | 105 | 98 |
Duke Energy Indiana | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | 23 | 22 | 20 |
Piedmont | |||
Organization And Basis Of Presentation [Line Items] | |||
Excise taxes | $ 2 | $ 2 | $ 2 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies (Expected Reserve for Credit Losses) (Details) - Adjustment - ASU 2016-13 $ in Millions | Dec. 31, 2019USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Total pretax impact to Retained Earnings | $ 120 |
Duke Energy Carolinas | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Total pretax impact to Retained Earnings | 16 |
Progress Energy | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Total pretax impact to Retained Earnings | 2 |
Duke Energy Progress | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Total pretax impact to Retained Earnings | 1 |
Duke Energy Florida | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Total pretax impact to Retained Earnings | 1 |
Piedmont | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Total pretax impact to Retained Earnings | $ 1 |
Acquisitions and Dispositions (
Acquisitions and Dispositions (Acquisitions Narrative) (Details) - USD ($) $ in Millions | Oct. 03, 2016 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||||||
Pretax transaction and integration costs | $ 31 | $ 16 | $ 20 | $ 17 | $ 84 | |||
Impairment charges | $ (8) | 402 | $ 282 | |||||
Piedmont | ||||||||
Business Acquisition [Line Items] | ||||||||
Total cash purchase price | $ 5,000 | |||||||
Long-term debt assumed | $ 2,000 | |||||||
Pretax transaction and integration costs | 84 | 103 | ||||||
Impairment charges | 7 | |||||||
Piedmont | Operation, maintenance and other | ||||||||
Business Acquisition [Line Items] | ||||||||
Pretax transaction and integration costs | 64 | |||||||
Piedmont | System Integration Costs | ||||||||
Business Acquisition [Line Items] | ||||||||
Pretax transaction and integration costs | $ 78 | $ 71 |
Acquisitions and Dispositions_2
Acquisitions and Dispositions (Dispositions Narrative) (Details) $ in Millions | Sep. 06, 2019USD ($)asset | Dec. 31, 2019USD ($) | [1] |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Sale of noncontrolling interest | $ 466 | $ (407) | |
Sale of noncontrolling interest tax benefit | 8 | ||
Commercial Renewables | Certain Renewable Assets | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from the sales of discontinued operations and other assets, net of cash divested | $ 415 | ||
Commercial Renewables | Operating Wind, Solar And Battery Storage Assets | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Portion of portfolio sold | 49.00% | ||
Number of portions of portfolios sold | asset | 37 | ||
Commercial Renewables | Operating Solar Assets | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Portion of portfolio sold | 33.00% | ||
Number of portions of portfolios sold | asset | 11 | ||
[1] | See Note 3 for additional discussion of the transaction. (f) Amounts in Retained Earnings and AOCI primarily represent impacts to accumulated other comprehensive income due to implementation of a new accounting standard related to Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)segment | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Loss on sale | $ 4 | $ 89 | $ (28) | ||||||||
Operation, maintenance and other | 6,066 | 6,463 | 5,944 | ||||||||
Revenues | $ 6,103 | $ 6,940 | $ 5,873 | $ 6,163 | $ 6,115 | $ 6,628 | $ 5,643 | $ 6,135 | 25,079 | 24,521 | 23,565 |
Duke Energy Progress | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Loss on sale | (9) | (4) | |||||||||
Operation, maintenance and other | 1,446 | 1,578 | 1,439 | ||||||||
Revenues | 1,398 | 1,688 | 1,387 | 1,484 | 1,366 | 1,582 | 1,291 | 1,460 | $ 5,957 | 5,699 | 5,129 |
Number of reportable segments | segment | 1 | ||||||||||
Duke Energy Ohio | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Loss on sale | 106 | (1) | |||||||||
Operation, maintenance and other | $ 520 | 480 | 530 | ||||||||
Revenues | $ 487 | $ 489 | $ 433 | $ 531 | $ 505 | $ 469 | $ 459 | $ 524 | $ 1,940 | 1,957 | 1,923 |
Number of reportable segments | segment | 2 | ||||||||||
Revenues | Duke Energy Progress | Customer Concentration | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 635 | ||||||||||
Beckjord | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Loss on sale | 106 | ||||||||||
Operation, maintenance and other | 1 | ||||||||||
Commercial Renewables | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 487 | $ 477 | $ 460 |
Business Segments (Business Seg
Business Segments (Business Segment Data) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | $ 6,103 | $ 6,940 | $ 5,873 | $ 6,163 | $ 6,115 | $ 6,628 | $ 5,643 | $ 6,135 | $ 25,079 | $ 24,521 | $ 23,565 |
Interest expense | 2,204 | 2,094 | 1,986 | ||||||||
Depreciation and amortization | 4,548 | 4,074 | 3,527 | ||||||||
Equity in earnings of unconsolidated affiliates | 162 | 83 | 119 | ||||||||
Income tax expense (benefit) from continuing operations | 519 | 448 | 1,196 | ||||||||
Segment income (loss) | 3,714 | 2,647 | 3,065 | ||||||||
Add back noncontrolling interests component | (177) | (22) | 5 | ||||||||
Add back preferred stock dividend | 41 | ||||||||||
(Loss) Income From Discontinued Operations, net of tax | (7) | 20 | 4 | (5) | 0 | (7) | 19 | (6) | |||
Net income (loss) | 607 | 1,323 | 748 | 893 | 454 | 1,066 | 502 | 622 | 3,571 | 2,644 | 3,064 |
Net income (loss) attributable to parent | 464 | 1,082 | 500 | 620 | 3,748 | 2,666 | 3,059 | ||||
Capital expenditures | 11,446 | 9,668 | 8,198 | ||||||||
Segment assets | 158,838 | 145,392 | 158,838 | 145,392 | 137,914 | ||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Reduction of prior year impairment | (14) | 25 | 11 | ||||||||
After-tax severance charges | 187 | 16 | 187 | 15 | |||||||
After-tax loss on sale and retirement | (107) | (107) | |||||||||
Duke Energy Ohio | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 487 | 489 | 433 | 531 | 505 | 469 | 459 | 524 | 1,940 | 1,957 | 1,923 |
Interest expense | 109 | 92 | 91 | ||||||||
Depreciation and amortization | 265 | 268 | 261 | ||||||||
Income tax expense (benefit) from continuing operations | 40 | 43 | 59 | ||||||||
Segment income (loss) | 239 | 176 | 193 | ||||||||
(Loss) Income From Discontinued Operations, net of tax | (1) | (1) | |||||||||
Net income (loss) attributable to parent | 48 | $ 74 | $ 47 | $ 69 | 55 | $ 100 | 46 | (25) | 238 | 176 | 192 |
Capital expenditures | 952 | 827 | 686 | ||||||||
Segment assets | 9,338 | 8,555 | 9,338 | 8,555 | 7,875 | ||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Tax Act | 2 | 2 | |||||||||
After-tax severance charges | 6 | 6 | |||||||||
After-tax loss on sale and retirement | 107 | 107 | |||||||||
Regulatory settlements | |||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Regulatory settlement charges | $ 179 | $ 86 | 265 | ||||||||
Noncontrolling Interests | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Net income (loss) | (22) | 5 | |||||||||
Eliminations | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | (200) | (199) | (200) | ||||||||
Interest expense | (58) | (45) | (20) | ||||||||
Depreciation and amortization | (5) | (1) | |||||||||
Segment assets | 188 | 188 | 188 | 188 | 188 | ||||||
Eliminations | Duke Energy Ohio | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Segment assets | (15) | ||||||||||
Electric Utilities and Infrastructure | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 22,798 | 22,242 | 21,300 | ||||||||
Equity in earnings of unconsolidated affiliates | 9 | 6 | 5 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Tax Act | 24 | 231 | |||||||||
Electric Utilities and Infrastructure | After-tax impairment charge | |||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
After tax impairment charge | 46 | ||||||||||
Electric Utilities and Infrastructure | Regulatory settlements | |||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Regulatory settlement charges | 202 | 98 | |||||||||
Electric Utilities and Infrastructure | Operating Segments | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 22,831 | 22,273 | 21,331 | ||||||||
Interest expense | 1,345 | 1,288 | 1,240 | ||||||||
Depreciation and amortization | 3,951 | 3,523 | 3,010 | ||||||||
Equity in earnings of unconsolidated affiliates | 9 | 5 | 5 | ||||||||
Income tax expense (benefit) from continuing operations | 785 | 799 | 1,355 | ||||||||
Segment income (loss) | 3,536 | 3,058 | 3,210 | ||||||||
Capital expenditures | 8,263 | 8,086 | 7,024 | ||||||||
Segment assets | 135,561 | 125,364 | 135,561 | 125,364 | 119,423 | ||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Reduction of prior year impairment | 27 | ||||||||||
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Ohio | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 1,456 | 1,450 | 1,373 | ||||||||
Interest expense | 80 | 67 | 62 | ||||||||
Depreciation and amortization | 182 | 183 | 178 | ||||||||
Income tax expense (benefit) from continuing operations | 20 | 47 | 40 | ||||||||
Segment income (loss) | 159 | 186 | 138 | ||||||||
Capital expenditures | 680 | 655 | 491 | ||||||||
Segment assets | 6,188 | 5,643 | 6,188 | 5,643 | 5,066 | ||||||
Electric Utilities and Infrastructure | Eliminations | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 33 | 31 | 31 | ||||||||
Gas Utilities and Infrastructure | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 1,770 | 1,783 | 1,743 | ||||||||
Equity in earnings of unconsolidated affiliates | 114 | 27 | 62 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Tax Act | 1 | 26 | |||||||||
Gas Utilities and Infrastructure | After-tax impairment charge | |||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
After tax impairment charge | 19 | 42 | |||||||||
Gas Utilities and Infrastructure | Operating Segments | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 1,866 | 1,881 | 1,836 | ||||||||
Interest expense | 117 | 106 | 105 | ||||||||
Depreciation and amortization | 256 | 245 | 231 | ||||||||
Equity in earnings of unconsolidated affiliates | 114 | 27 | 62 | ||||||||
Income tax expense (benefit) from continuing operations | 22 | 78 | 116 | ||||||||
Segment income (loss) | 432 | 274 | 319 | ||||||||
Capital expenditures | 1,539 | 1,133 | 907 | ||||||||
Segment assets | 13,921 | 12,361 | 13,921 | 12,361 | 11,462 | ||||||
Gas Utilities and Infrastructure | Operating Segments | Duke Energy Ohio | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 484 | 506 | 508 | ||||||||
Interest expense | 29 | 24 | 28 | ||||||||
Depreciation and amortization | 83 | 85 | 83 | ||||||||
Income tax expense (benefit) from continuing operations | 21 | 24 | 39 | ||||||||
Segment income (loss) | 85 | 93 | 85 | ||||||||
Capital expenditures | 272 | 172 | 195 | ||||||||
Segment assets | 3,116 | 2,874 | 3,116 | 2,874 | 2,758 | ||||||
Gas Utilities and Infrastructure | Eliminations | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 96 | 98 | 93 | ||||||||
Commercial Renewables | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 487 | 477 | 460 | ||||||||
Equity in earnings of unconsolidated affiliates | (4) | (1) | (5) | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
After tax impairment charge | 91 | 74 | |||||||||
Tax Act | 3 | 442 | |||||||||
Commercial Renewables | Noncontrolling Interests | |||||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
After tax impairment charge | 2 | ||||||||||
Commercial Renewables | Operating Segments | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 487 | 477 | 460 | ||||||||
Interest expense | 95 | 88 | 87 | ||||||||
Depreciation and amortization | 168 | 155 | 155 | ||||||||
Equity in earnings of unconsolidated affiliates | (4) | (1) | (5) | ||||||||
Income tax expense (benefit) from continuing operations | (115) | (147) | (628) | ||||||||
Segment income (loss) | 198 | 9 | 441 | ||||||||
Capital expenditures | 1,423 | 193 | 92 | ||||||||
Segment assets | 6,020 | 4,204 | 6,020 | 4,204 | 4,156 | ||||||
Commercial Renewables | Eliminations | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 0 | 0 | |||||||||
Other | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Equity in earnings of unconsolidated affiliates | 43 | 51 | 57 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
After-tax severance charges | 144 | ||||||||||
After-tax loss on sale and retirement | 82 | ||||||||||
Total Reportable Segments | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 25,055 | 24,502 | 23,503 | ||||||||
Total Reportable Segments | Operating Segments | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 25,184 | 24,631 | 23,627 | ||||||||
Interest expense | 1,557 | 1,482 | 1,432 | ||||||||
Depreciation and amortization | 4,375 | 3,923 | 3,396 | ||||||||
Equity in earnings of unconsolidated affiliates | 119 | 31 | 62 | ||||||||
Income tax expense (benefit) from continuing operations | 692 | 730 | 843 | ||||||||
Segment income (loss) | 4,166 | 3,341 | 3,970 | ||||||||
Capital expenditures | 11,225 | 9,412 | 8,023 | ||||||||
Segment assets | 155,502 | 141,929 | 155,502 | 141,929 | 135,041 | ||||||
Total Reportable Segments | Operating Segments | Duke Energy Ohio | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 1,940 | 1,956 | 1,881 | ||||||||
Interest expense | 109 | 91 | 90 | ||||||||
Depreciation and amortization | 265 | 268 | 261 | ||||||||
Income tax expense (benefit) from continuing operations | 41 | 71 | 79 | ||||||||
Segment income (loss) | 244 | 279 | 223 | ||||||||
Capital expenditures | 952 | 827 | 686 | ||||||||
Segment assets | 9,304 | 8,517 | 9,304 | 8,517 | 7,824 | ||||||
Total Reportable Segments | Eliminations | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 129 | 129 | 124 | ||||||||
Other | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 24 | 19 | 62 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Tax Act | 2 | 597 | |||||||||
Costs to achieve mergers, acquisition costs | 65 | 64 | |||||||||
Other | Eliminations | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 71 | 70 | 76 | ||||||||
Other | Other | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 95 | 89 | 138 | ||||||||
Interest expense | 705 | 657 | 574 | ||||||||
Depreciation and amortization | 178 | 152 | 131 | ||||||||
Equity in earnings of unconsolidated affiliates | 43 | 52 | 57 | ||||||||
Income tax expense (benefit) from continuing operations | (173) | (282) | 353 | ||||||||
Segment income (loss) | (452) | (694) | (905) | ||||||||
Capital expenditures | 221 | 256 | 175 | ||||||||
Segment assets | 3,148 | 3,275 | 3,148 | 3,275 | 2,685 | ||||||
Other | Other | Duke Energy Ohio | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Revenues | 1 | 42 | |||||||||
Interest expense | 1 | 1 | |||||||||
Income tax expense (benefit) from continuing operations | (1) | (28) | (20) | ||||||||
Segment income (loss) | (5) | (103) | (30) | ||||||||
Segment assets | $ 34 | $ 38 | $ 34 | $ 38 | $ 66 |
Business Segments (Major Custom
Business Segments (Major Customer Disclosure) (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)segment | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Revenue, Major Customer [Line Items] | |||||||||||
Revenues | $ 6,103 | $ 6,940 | $ 5,873 | $ 6,163 | $ 6,115 | $ 6,628 | $ 5,643 | $ 6,135 | $ 25,079 | $ 24,521 | $ 23,565 |
Duke Energy Progress | |||||||||||
Revenue, Major Customer [Line Items] | |||||||||||
Revenues | $ 1,398 | $ 1,688 | $ 1,387 | $ 1,484 | $ 1,366 | $ 1,582 | $ 1,291 | $ 1,460 | $ 5,957 | $ 5,699 | $ 5,129 |
Number of reportable segments | segment | 1 |
Business Segments (Schedule of
Business Segments (Schedule of Revenue, By Products and Services) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 6,103 | $ 6,940 | $ 5,873 | $ 6,163 | $ 6,115 | $ 6,628 | $ 5,643 | $ 6,135 | $ 25,079 | $ 24,521 | $ 23,565 |
Electric Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 22,798 | 22,242 | 21,300 | ||||||||
Gas Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 1,770 | 1,783 | 1,743 | ||||||||
Commercial Renewables | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 487 | 477 | 460 | ||||||||
Total Reportable Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 25,055 | 24,502 | 23,503 | ||||||||
Retail Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 19,745 | 19,013 | 18,177 | ||||||||
Retail Electric | Electric Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 19,745 | 19,013 | 18,177 | ||||||||
Wholesale Electric | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 2,620 | 2,720 | 2,479 | ||||||||
Wholesale Electric | Electric Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 2,231 | 2,345 | 2,104 | ||||||||
Wholesale Electric | Commercial Renewables | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 389 | 375 | 375 | ||||||||
Retail Natural Gas | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 1,782 | 1,817 | 1,732 | ||||||||
Retail Natural Gas | Gas Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 1,782 | 1,817 | 1,732 | ||||||||
Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 1,037 | 1,081 | 1,239 | ||||||||
Other | Electric Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 855 | 915 | 1,050 | ||||||||
Other | Gas Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 84 | 64 | 104 | ||||||||
Other | Commercial Renewables | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 98 | 102 | 85 | ||||||||
Operating Segments | Electric Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 22,831 | 22,273 | 21,331 | ||||||||
Operating Segments | Gas Utilities and Infrastructure | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 1,866 | 1,881 | 1,836 | ||||||||
Operating Segments | Commercial Renewables | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 487 | 477 | 460 | ||||||||
Operating Segments | Total Reportable Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 25,184 | $ 24,631 | $ 23,627 |
Regulatory Matters (Schedule of
Regulatory Matters (Schedule of Regulatory Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | $ 15,018 | $ 15,622 |
Regulatory Assets: Current | 1,796 | 2,005 |
Other Noncurrent Assets: Regulatory assets | 13,222 | 13,617 |
Total regulatory liabilities | 16,048 | 15,432 |
Less: current portion | 784 | 598 |
Total noncurrent regulatory liabilities | 15,264 | 14,834 |
Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 7,872 | 8,058 |
Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 5,756 | 5,421 |
AROs – nuclear and other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1,100 | 538 |
Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 176 | 301 |
Amounts to be refunded to customers | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 34 | 34 |
Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1 | 16 |
Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1,109 | 1,064 |
AROs – coal ash | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 4,084 | 4,255 |
AROs – nuclear and other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 739 | 772 |
Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 2,391 | 2,654 |
Storm cost deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,399 | 1,117 |
Nuclear asset securitized balance, net | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,042 | 1,093 |
Debt fair value adjustment | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,019 | 1,099 |
Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 528 | 838 |
Deferred asset – Lee and Harris COLA | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 388 | 426 |
Hedge costs deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 356 | 204 |
Demand side management (DSM)/Energy Efficiency (EE) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 343 | 449 |
Advanced metering infrastructure (AMI) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 338 | 367 |
Retired generation facilities | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 331 | 402 |
Post-in-service carrying costs (PISCC) and deferred operating expenses | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 329 | 320 |
Vacation accrual | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 214 | 213 |
Derivatives – natural gas supply contracts | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 117 | 141 |
Nuclear deferral | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 107 | 133 |
Manufactured gas plant (MGP) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 102 | 99 |
Deferred pipeline integrity costs | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 79 | 65 |
NCEMPA deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 72 | 50 |
East Bend deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 44 | 47 |
Transmission expansion obligation | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 36 | 39 |
Amounts due from customers | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 36 | 24 |
Grid Modernization [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 28 | 31 |
Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 896 | 784 |
Progress Energy | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 7,292 | 7,701 |
Regulatory Assets: Current | 946 | 1,137 |
Other Noncurrent Assets: Regulatory assets | 6,346 | 6,564 |
Total regulatory liabilities | 5,555 | 5,329 |
Less: current portion | 330 | 280 |
Total noncurrent regulatory liabilities | 5,225 | 5,049 |
Progress Energy | Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 2,595 | 2,710 |
Progress Energy | Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 2,561 | 2,135 |
Progress Energy | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 149 | |
Progress Energy | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1 | 16 |
Progress Energy | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 398 | 319 |
Progress Energy | AROs – coal ash | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,843 | 2,061 |
Progress Energy | AROs – nuclear and other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 668 | 601 |
Progress Energy | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 897 | 1,074 |
Progress Energy | Storm cost deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,214 | 953 |
Progress Energy | Nuclear asset securitized balance, net | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,042 | 1,093 |
Progress Energy | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 305 | 600 |
Progress Energy | Deferred asset – Lee and Harris COLA | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 38 | 43 |
Progress Energy | Hedge costs deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 129 | 74 |
Progress Energy | Demand side management (DSM)/Energy Efficiency (EE) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 241 | 256 |
Progress Energy | Advanced metering infrastructure (AMI) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 114 | 127 |
Progress Energy | Retired generation facilities | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 266 | 324 |
Progress Energy | Post-in-service carrying costs (PISCC) and deferred operating expenses | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 33 | 36 |
Progress Energy | Vacation accrual | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 41 | 41 |
Progress Energy | Nuclear deferral | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 40 | 46 |
Progress Energy | NCEMPA deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 72 | 50 |
Progress Energy | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 349 | 322 |
Duke Energy Carolinas | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 3,910 | 3,977 |
Regulatory Assets: Current | 550 | 520 |
Other Noncurrent Assets: Regulatory assets | 3,360 | 3,457 |
Total regulatory liabilities | 6,678 | 6,198 |
Less: current portion | 255 | 199 |
Total noncurrent regulatory liabilities | 6,423 | 5,999 |
Duke Energy Carolinas | Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 3,060 | 3,082 |
Duke Energy Carolinas | Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1,936 | 1,968 |
Duke Energy Carolinas | AROs – nuclear and other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1,100 | 538 |
Duke Energy Carolinas | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 39 | 38 |
Duke Energy Carolinas | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 543 | 572 |
Duke Energy Carolinas | AROs – coal ash | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,696 | 1,725 |
Duke Energy Carolinas | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 477 | 581 |
Duke Energy Carolinas | Storm cost deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 178 | 160 |
Duke Energy Carolinas | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 222 | 196 |
Duke Energy Carolinas | Deferred asset – Lee and Harris COLA | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 350 | 383 |
Duke Energy Carolinas | Hedge costs deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 198 | 101 |
Duke Energy Carolinas | Demand side management (DSM)/Energy Efficiency (EE) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 100 | 169 |
Duke Energy Carolinas | Advanced metering infrastructure (AMI) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 166 | 176 |
Duke Energy Carolinas | Retired generation facilities | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 16 | 21 |
Duke Energy Carolinas | Post-in-service carrying costs (PISCC) and deferred operating expenses | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 33 | 34 |
Duke Energy Carolinas | Vacation accrual | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 80 | 78 |
Duke Energy Carolinas | Nuclear deferral | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 67 | 87 |
Duke Energy Carolinas | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 327 | 266 |
Duke Energy Progress | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 4,678 | 4,814 |
Regulatory Assets: Current | 526 | 703 |
Other Noncurrent Assets: Regulatory assets | 4,152 | 4,111 |
Total regulatory liabilities | 4,468 | 4,133 |
Less: current portion | 236 | 178 |
Total noncurrent regulatory liabilities | 4,232 | 3,955 |
Duke Energy Progress | Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1,802 | 1,863 |
Duke Energy Progress | Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 2,294 | 1,878 |
Duke Energy Progress | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 93 | |
Duke Energy Progress | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 372 | 299 |
Duke Energy Progress | AROs – coal ash | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,834 | 2,051 |
Duke Energy Progress | AROs – nuclear and other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 509 | 429 |
Duke Energy Progress | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 423 | 542 |
Duke Energy Progress | Storm cost deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 801 | 571 |
Duke Energy Progress | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 266 | 397 |
Duke Energy Progress | Deferred asset – Lee and Harris COLA | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 38 | 43 |
Duke Energy Progress | Hedge costs deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 85 | 54 |
Duke Energy Progress | Demand side management (DSM)/Energy Efficiency (EE) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 216 | 235 |
Duke Energy Progress | Advanced metering infrastructure (AMI) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 61 | 67 |
Duke Energy Progress | Retired generation facilities | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 83 | 105 |
Duke Energy Progress | Post-in-service carrying costs (PISCC) and deferred operating expenses | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 33 | 36 |
Duke Energy Progress | Vacation accrual | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 41 | 41 |
Duke Energy Progress | Nuclear deferral | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 40 | 46 |
Duke Energy Progress | NCEMPA deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 72 | 50 |
Duke Energy Progress | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 176 | 147 |
Duke Energy Florida | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 2,613 | 2,888 |
Regulatory Assets: Current | 419 | 434 |
Other Noncurrent Assets: Regulatory assets | 2,194 | 2,454 |
Total regulatory liabilities | 1,087 | 1,196 |
Less: current portion | 94 | 102 |
Total noncurrent regulatory liabilities | 993 | 1,094 |
Duke Energy Florida | Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 793 | 847 |
Duke Energy Florida | Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 267 | 257 |
Duke Energy Florida | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 56 | |
Duke Energy Florida | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1 | 16 |
Duke Energy Florida | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 26 | 20 |
Duke Energy Florida | AROs – coal ash | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 9 | 10 |
Duke Energy Florida | AROs – nuclear and other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 159 | 172 |
Duke Energy Florida | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 474 | 532 |
Duke Energy Florida | Storm cost deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 413 | 382 |
Duke Energy Florida | Nuclear asset securitized balance, net | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,042 | 1,093 |
Duke Energy Florida | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 39 | 203 |
Duke Energy Florida | Hedge costs deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 44 | 20 |
Duke Energy Florida | Demand side management (DSM)/Energy Efficiency (EE) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 25 | 21 |
Duke Energy Florida | Advanced metering infrastructure (AMI) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 53 | 60 |
Duke Energy Florida | Retired generation facilities | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 183 | 219 |
Duke Energy Florida | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 172 | 176 |
Duke Energy Ohio | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 598 | 564 |
Regulatory Assets: Current | 49 | 33 |
Other Noncurrent Assets: Regulatory assets | 549 | 531 |
Total regulatory liabilities | 827 | 897 |
Less: current portion | 64 | 57 |
Total noncurrent regulatory liabilities | 763 | 840 |
Duke Energy Ohio | Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 654 | 678 |
Duke Energy Ohio | Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 86 | 126 |
Duke Energy Ohio | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 16 | 18 |
Duke Energy Ohio | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 71 | 75 |
Duke Energy Ohio | AROs – coal ash | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 16 | 20 |
Duke Energy Ohio | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 155 | 146 |
Duke Energy Ohio | Storm cost deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 7 | 4 |
Duke Energy Ohio | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1 | 2 |
Duke Energy Ohio | Hedge costs deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 6 | 5 |
Duke Energy Ohio | Demand side management (DSM)/Energy Efficiency (EE) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 2 | 10 |
Duke Energy Ohio | Advanced metering infrastructure (AMI) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 40 | 46 |
Duke Energy Ohio | Post-in-service carrying costs (PISCC) and deferred operating expenses | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 17 | 17 |
Duke Energy Ohio | Vacation accrual | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 5 | 5 |
Duke Energy Ohio | Manufactured gas plant (MGP) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 102 | 99 |
Duke Energy Ohio | Deferred pipeline integrity costs | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 17 | 14 |
Duke Energy Ohio | East Bend deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 44 | 47 |
Duke Energy Ohio | Transmission expansion obligation | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 40 | 43 |
Duke Energy Ohio | Grid Modernization [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 28 | 31 |
Duke Energy Ohio | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 118 | 75 |
Duke Energy Indiana | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 1,172 | 1,157 |
Regulatory Assets: Current | 90 | 175 |
Other Noncurrent Assets: Regulatory assets | 1,082 | 982 |
Total regulatory liabilities | 1,740 | 1,747 |
Less: current portion | 55 | 25 |
Total noncurrent regulatory liabilities | 1,685 | 1,722 |
Duke Energy Indiana | Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1,008 | 1,009 |
Duke Energy Indiana | Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 599 | 628 |
Duke Energy Indiana | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 90 | 67 |
Duke Energy Indiana | Amounts to be refunded to customers | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 1 | |
Duke Energy Indiana | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 43 | 42 |
Duke Energy Indiana | AROs – coal ash | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 529 | 450 |
Duke Energy Indiana | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 243 | 222 |
Duke Energy Indiana | Deferred fuel and purchased power | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 40 | |
Duke Energy Indiana | Hedge costs deferrals | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 23 | 24 |
Duke Energy Indiana | Demand side management (DSM)/Energy Efficiency (EE) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 14 | |
Duke Energy Indiana | Advanced metering infrastructure (AMI) | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 18 | 18 |
Duke Energy Indiana | Retired generation facilities | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 49 | 57 |
Duke Energy Indiana | Post-in-service carrying costs (PISCC) and deferred operating expenses | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 246 | 233 |
Duke Energy Indiana | Vacation accrual | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 12 | 11 |
Duke Energy Indiana | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 52 | 88 |
Piedmont | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 363 | 357 |
Regulatory Assets: Current | 73 | 54 |
Other Noncurrent Assets: Regulatory assets | 290 | 303 |
Total regulatory liabilities | 1,212 | 1,218 |
Less: current portion | 81 | 37 |
Total noncurrent regulatory liabilities | 1,131 | 1,181 |
Piedmont | Net regulatory liability related to income taxes | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 555 | 579 |
Piedmont | Costs of removal | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 574 | 564 |
Piedmont | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 3 | 1 |
Piedmont | Amounts to be refunded to customers | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 34 | 33 |
Piedmont | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory liabilities | 46 | 41 |
Piedmont | AROs – nuclear and other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 16 | 19 |
Piedmont | Accrued pension and OPEB | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 90 | 99 |
Piedmont | Vacation accrual | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 12 | 12 |
Piedmont | Derivatives – natural gas supply contracts | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 117 | 141 |
Piedmont | Deferred pipeline integrity costs | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 62 | 51 |
Piedmont | Amounts due from customers | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | 36 | 24 |
Piedmont | Other | ||
Regulatory Assets Liabilities [Line Items] | ||
Total regulatory assets | $ 30 | $ 11 |
Regulatory Matters (Narrative)
Regulatory Matters (Narrative) (Details) - USD ($) $ in Millions | Apr. 02, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Public Utilities, General Disclosures [Line Items] | ||||
Operation, maintenance and other | $ 6,066 | $ 6,463 | $ 5,944 | |
Hurricane Florence, Hurricane Michael and Winter Storm Diego | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Operation, maintenance and other | $ 553 | |||
Estimated capital cost | 96 | |||
Duke Energy Ohio | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Limit of total capital | 30.00% | |||
Operation, maintenance and other | $ 520 | 480 | 530 | |
Duke Energy Kentucky | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Required minimum equity capital structure | 35.00% | |||
Duke Energy Carolinas | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Operation, maintenance and other | $ 1,868 | 2,130 | 2,021 | |
Duke Energy Carolinas | Hurricane Florence, Hurricane Michael and Winter Storm Diego | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Operation, maintenance and other | 171 | |||
Estimated capital cost | 20 | |||
Duke Energy Progress | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Operation, maintenance and other | $ 1,446 | $ 1,578 | $ 1,439 | |
Duke Energy Progress | Hurricane Florence, Hurricane Michael and Winter Storm Diego | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Operation, maintenance and other | 382 | |||
Estimated capital cost | $ 76 |
Regulatory Matters (Duke Energy
Regulatory Matters (Duke Energy Carolinas Narrative) (Details) $ in Millions | Sep. 30, 2019USD ($) | May 21, 2019USD ($) | Nov. 08, 2018USD ($) | Aug. 09, 2018plant | Jul. 05, 2018plant | Jun. 22, 2018USD ($) | Feb. 15, 2018USD ($) | Aug. 25, 2017USD ($) | May 31, 2018USD ($)plantMW | Feb. 28, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Aug. 16, 2019USD ($) |
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Operation, maintenance and other | $ 6,066 | $ 6,463 | $ 5,944 | |||||||||||
Regulatory assets | 15,018 | 15,622 | ||||||||||||
AROs – coal ash | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | 4,084 | 4,255 | ||||||||||||
Duke Energy Carolinas | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Operation, maintenance and other | 1,868 | 2,130 | $ 2,021 | |||||||||||
Regulatory assets | 3,910 | 3,977 | ||||||||||||
Duke Energy Carolinas | AROs – coal ash | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | $ 1,696 | $ 1,725 | ||||||||||||
Duke Energy Carolinas | NCUC | 2017 North Carolina Rate Case | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease) | $ 647 | |||||||||||||
Requested rate increase (decrease), percent | 13.60% | |||||||||||||
Requested return on equity, percentage | 9.90% | |||||||||||||
Requested capital structure, percentage | 52.00% | |||||||||||||
Requested debt structure, percentage | 48.00% | |||||||||||||
Operation, maintenance and other | $ 4 | |||||||||||||
Impairment charges and Operation | $ 150 | |||||||||||||
Management penalty assessed | 70 | |||||||||||||
Reduction of annual recovery of deferred coal ash costs | $ 14 | |||||||||||||
Duke Energy Carolinas | NCUC | 2019 North Carolina Rate Case | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease) | $ 291 | |||||||||||||
Requested rate increase (decrease), percent | 6.00% | |||||||||||||
Requested gross rate case revenue increase | $ 445 | |||||||||||||
Requested EDIT rider decrease | $ 154 | |||||||||||||
Duke Energy Carolinas | NCUC | 2018 Sale of Hydro Plants | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | $ 32 | |||||||||||||
Number of Hydroelectric Plants | plant | 5 | |||||||||||||
Plant capacity | MW | 18.7 | |||||||||||||
Total estimated loss on the sale | $ 40 | |||||||||||||
Duke Energy Carolinas | PSCSC | 2018 South Carolina Rate Case | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease) | $ 168 | |||||||||||||
Requested rate increase (decrease), percent | 10.00% | |||||||||||||
Tax benefit from change in enacted tax rates | $ (66) | $ 66 | ||||||||||||
Measurement period adjustments | $ 45 | $ 46 | ||||||||||||
Approved return on equity, percentage | 9.50% | |||||||||||||
Approved capital structure, percentage | 53.00% | |||||||||||||
Approved debt structure, percentage | 47.00% | |||||||||||||
Duke Energy Carolinas | PSCSC | 2018 South Carolina Rate Case | AROs – coal ash | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Recovery period | 5 years | |||||||||||||
Regulatory assets | $ 96 | $ 242 | ||||||||||||
Denied recovery costs | $ 115 | |||||||||||||
Duke Energy Carolinas | PSCSC | 2018 South Carolina Rate Case | Deferred project costs | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Recovery period | 12 years | |||||||||||||
Regulatory assets | $ 125 | |||||||||||||
Duke Energy Carolinas | PSCSC | 2018 South Carolina Rate Case | State | North Carolina DOR | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Tax benefit from reduction in state taxes | $ 17 | |||||||||||||
Approved decrease through EDIT Rider | $ 17 | |||||||||||||
Duke Energy Carolinas | FERC | FERC Formula Rate Matter | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Customer refunds | $ 25 | |||||||||||||
Duke Energy Carolinas | FERC | 2018 Sale of Hydro Plants | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Number of Hydroelectric Plants | plant | 4 | |||||||||||||
Northbrook | Duke Energy Carolinas | NCUC | 2018 Sale of Hydro Plants | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Number of Hydroelectric Plants | plant | 5 | |||||||||||||
Northbrook | Duke Energy Carolinas | NCUC | 2018 Sale of Hydro Plants, CPCNs | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Number of Hydroelectric Plants | plant | 4 | |||||||||||||
Northbrook | Duke Energy Carolinas | FERC | 2018 Sale of Hydro Plants | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Number of Hydroelectric Plants | plant | 4 |
Regulatory Matters (Duke Ener_2
Regulatory Matters (Duke Energy Progress Narrative) (Details) customer in Thousands, $ in Millions | Oct. 30, 2019USD ($) | Sep. 30, 2019USD ($)customer | May 21, 2019USD ($) | Nov. 08, 2018USD ($) | Nov. 22, 2017 | Aug. 25, 2017USD ($) | Jun. 01, 2017USD ($) | Nov. 04, 2015plantMW | Feb. 28, 2018 | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)MW | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Total income (loss) from continuing operations before income taxes | $ 4,097 | $ 3,073 | $ 4,266 | ||||||||||
Regulatory assets | 15,018 | 15,622 | |||||||||||
Net property, plant and equipment | 102,127 | 91,694 | |||||||||||
Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Total income (loss) from continuing operations before income taxes | 962 | 827 | 1,007 | ||||||||||
Regulatory assets | 4,678 | 4,814 | |||||||||||
Net property, plant and equipment | 22,934 | 20,398 | |||||||||||
Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Total income (loss) from continuing operations before income taxes | 1,714 | 1,374 | $ 1,866 | ||||||||||
Regulatory assets | 3,910 | 3,977 | |||||||||||
Net property, plant and equipment | 32,397 | 29,245 | |||||||||||
2017 North Carolina Rate Case | NCUC | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Requested rate increase (decrease) | $ 477 | ||||||||||||
Requested rate increase (decrease), percent | 14.90% | ||||||||||||
Requested rate increase (decrease), amended, amount | $ 420 | ||||||||||||
Requested rate increase (decrease), amended, percentage | 13.00% | ||||||||||||
Requested return on equity, percentage | 9.90% | ||||||||||||
Requested capital structure, percentage | 52.00% | ||||||||||||
Requested debt structure, percentage | 48.00% | ||||||||||||
Total income (loss) from continuing operations before income taxes | $ (68) | ||||||||||||
2017 North Carolina Rate Case | NCUC | Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Requested rate increase (decrease) | $ 647 | ||||||||||||
Requested rate increase (decrease), percent | 13.60% | ||||||||||||
Requested return on equity, percentage | 9.90% | ||||||||||||
Requested capital structure, percentage | 52.00% | ||||||||||||
Requested debt structure, percentage | 48.00% | ||||||||||||
Total income (loss) from continuing operations before income taxes | $ (14) | ||||||||||||
2019 North Carolina Rate Case | NCUC | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Requested rate increase (decrease) | $ 464 | ||||||||||||
Requested rate increase (decrease), percent | 12.30% | ||||||||||||
Requested gross rate case revenue increase | $ 586 | ||||||||||||
Requested rate increase (decrease), rider reduction, tax cuts and jobs act and return deferred revenue | 122 | ||||||||||||
Requested EDIT rider decrease | $ 120 | ||||||||||||
2019 North Carolina Rate Case | NCUC | Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Requested rate increase (decrease) | $ 291 | ||||||||||||
Requested rate increase (decrease), percent | 6.00% | ||||||||||||
Requested gross rate case revenue increase | $ 445 | ||||||||||||
Requested EDIT rider decrease | $ 154 | ||||||||||||
Hurricane Dorian Storm Damage | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Estimated storm costs - operation maintenance | 205 | ||||||||||||
Estimated storm costs - capital investments | $ 4 | ||||||||||||
2018 South Carolina Rate Case | PSCSC | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Requested rate increase (decrease) | $ 59 | ||||||||||||
Requested rate increase (decrease), percent | 10.30% | ||||||||||||
Measurement period adjustments | $ (12) | $ (10) | |||||||||||
Approved return on equity, percentage | 9.50% | ||||||||||||
Approved capital structure, percentage | 53.00% | ||||||||||||
Approved debt structure, percentage | 47.00% | ||||||||||||
Tax benefit from change in enacted tax rates | $ (17) | ||||||||||||
2018 South Carolina Rate Case | PSCSC | Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Requested rate increase (decrease) | $ 168 | ||||||||||||
Requested rate increase (decrease), percent | 10.00% | ||||||||||||
Measurement period adjustments | $ (45) | $ (46) | |||||||||||
Approved return on equity, percentage | 9.50% | ||||||||||||
Approved capital structure, percentage | 53.00% | ||||||||||||
Approved debt structure, percentage | 47.00% | ||||||||||||
Tax benefit from change in enacted tax rates | $ (66) | 66 | |||||||||||
Western Carolinas Modernization Plan | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Number of plants to be constructed | plant | 2 | ||||||||||||
Plants to be constructed capacity (in MW) | MW | 280 | ||||||||||||
Western Carolinas Modernization Plan | NCUC | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Recovery period | 10 years | ||||||||||||
Estimated capital cost | $ 893 | ||||||||||||
North Carolina | Hurricane Dorian Storm Damage | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Customers experiencing outages | customer | 270 | ||||||||||||
South Carolina | Hurricane Dorian Storm Damage | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Customers experiencing outages | customer | 30 | ||||||||||||
Storm cost deferrals | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 1,399 | 1,117 | |||||||||||
Storm cost deferrals | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 801 | 571 | |||||||||||
Storm cost deferrals | Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 178 | 160 | |||||||||||
Storm cost deferrals | Hurricane Dorian Storm Damage | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 179 | ||||||||||||
AROs – coal ash | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 4,084 | 4,255 | |||||||||||
AROs – coal ash | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 1,834 | 2,051 | |||||||||||
AROs – coal ash | Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | $ 1,696 | 1,725 | |||||||||||
AROs – coal ash | 2018 South Carolina Rate Case | PSCSC | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 4 | $ 51 | |||||||||||
Recovery period | 5 years | ||||||||||||
Denied recovery costs | 65 | ||||||||||||
AROs – coal ash | 2018 South Carolina Rate Case | PSCSC | Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Regulatory assets | 96 | $ 242 | |||||||||||
Recovery period | 5 years | ||||||||||||
Denied recovery costs | 115 | ||||||||||||
North Carolina DOR | 2018 South Carolina Rate Case | PSCSC | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Measurement period adjustments | $ (17) | ||||||||||||
State | North Carolina DOR | 2018 South Carolina Rate Case | PSCSC | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Approved increase (decrease) through EDIT Rider | 12 | $ 12 | |||||||||||
State | North Carolina DOR | 2018 South Carolina Rate Case | PSCSC | Duke Energy Carolinas | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Approved increase (decrease) through EDIT Rider | $ (17) | ||||||||||||
Generating facilities planned for retirement | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Capacity (in MW) | MW | 5,002 | ||||||||||||
Generating facilities planned for retirement | Asheville Plant | Duke Energy Progress | |||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||
Capacity (in MW) | MW | 376 | ||||||||||||
Net property, plant and equipment | $ 214 | $ 327 |
Regulatory Matters (Duke Ener_3
Regulatory Matters (Duke Energy Florida Narrative) (Details) customer in Thousands, $ in Millions | Jun. 13, 2019USD ($) | Mar. 25, 2019USD ($) | Dec. 27, 2018USD ($) | Jul. 31, 2018USD ($) | May 31, 2018USD ($) | Jan. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($)MW | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Nov. 22, 2019USD ($) | Jan. 29, 2019USD ($) | Oct. 31, 2018customer | Sep. 30, 2017customer | Oct. 31, 2015USD ($) |
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Net property, plant and equipment | $ 102,127 | $ 91,694 | $ 102,127 | $ 91,694 | |||||||||||||
Operation, maintenance and other | 6,066 | 6,463 | $ 5,944 | ||||||||||||||
Regulatory assets | 15,018 | 15,622 | 15,018 | 15,622 | |||||||||||||
Remaining net book value | 102,127 | 91,694 | 102,127 | 91,694 | |||||||||||||
Impairment charges | (8) | 402 | 282 | ||||||||||||||
Reduction of prior year impairment | (14) | $ 25 | 11 | ||||||||||||||
Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Net property, plant and equipment | 15,221 | 13,824 | 15,221 | 13,824 | |||||||||||||
Operation, maintenance and other | 1,034 | 1,025 | 853 | ||||||||||||||
Regulatory assets | 2,613 | 2,888 | 2,613 | 2,888 | |||||||||||||
Remaining net book value | 15,221 | 13,824 | 15,221 | 13,824 | |||||||||||||
Impairment charges | (36) | 54 | $ 138 | ||||||||||||||
Storm Restoration Cost Recovery | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Customers experiencing outages | customer | 1,000 | ||||||||||||||||
Estimated storm costs, capital and operation maintenance | $ 508 | ||||||||||||||||
Allowed storm reserve | $ 132 | ||||||||||||||||
Net property, plant and equipment | $ 18 | ||||||||||||||||
Operation, maintenance and other | 6 | ||||||||||||||||
Increase (decrease) in storm reserve | $ (24) | ||||||||||||||||
Hurricane Michael Storm Damage | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Customers experiencing outages | customer | 72 | ||||||||||||||||
Estimated storm costs, capital and operation maintenance | 311 | 311 | |||||||||||||||
Amount of recovery costs sought | $ 191 | ||||||||||||||||
Net property, plant and equipment | 107 | $ 35 | 107 | 35 | |||||||||||||
Hurricane Dorian Storm Damage | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Estimated storm costs, capital and operation maintenance | 167 | 167 | |||||||||||||||
FPSC | Storm Restoration Cost Recovery | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Estimated storm costs, capital and operation maintenance | 510 | ||||||||||||||||
FPSC | Federal Tax Act Impacts | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Amount of tax act annual tax savings requested rate decrease | $ 4 | 134 | |||||||||||||||
Amount of tax act excess deferred tax amortization requested rate decrease | 71 | 67 | |||||||||||||||
FPSC | Federal Tax Act Impacts Revenue Requirement | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease) | 201 | ||||||||||||||||
Crystal River Units 3 and 4 | FPSC | Federal Tax Act Impacts Revenue Requirement | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Remaining net book value | 50 | ||||||||||||||||
Citrus County Combined Cycle Facility | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Plant capacity | MW | 1,640 | ||||||||||||||||
Estimated capital cost including Afudc | 1,500 | $ 1,600 | 1,500 | 1,600 | $ 1,500 | ||||||||||||
Impairment charges | 60 | ||||||||||||||||
Reduction of prior year impairment | 36 | ||||||||||||||||
Hamilton Project | FPSC | Second Revised And Restated Stipulation And Settlement Agreement 2017 | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Approved rate increase (decrease) amount by state commission | $ (15) | ||||||||||||||||
Columbia Project | FPSC | Second Revised And Restated Stipulation And Settlement Agreement 2017 | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease) | $ (14) | ||||||||||||||||
Trenton Generation Project | FPSC | Second Revised And Restated Stipulation And Settlement Agreement 2017 | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease) | $ 13 | ||||||||||||||||
Lake Placid Generation Project | FPSC | Second Revised And Restated Stipulation And Settlement Agreement 2017 | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease) | 8 | ||||||||||||||||
DeBary Solar Project | FPSC | Second Revised And Restated Stipulation And Settlement Agreement 2017 | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Requested rate increase (decrease) | $ 11 | ||||||||||||||||
Storm cost deferrals | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory assets | 1,399 | 1,117 | 1,399 | 1,117 | |||||||||||||
Storm cost deferrals | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory assets | 413 | 382 | 413 | 382 | |||||||||||||
Storm cost deferrals | Storm Restoration Cost Recovery | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory assets | 43 | 217 | 43 | 217 | |||||||||||||
Storm cost deferrals | Hurricane Michael Storm Damage | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory assets | $ 204 | $ 165 | $ 204 | $ 165 | |||||||||||||
Storm cost deferrals | FPSC | Federal Tax Act Impacts Revenue Requirement | Duke Energy Florida | |||||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||||
Regulatory assets | $ 155 | $ 151 |
Regulatory Matters (Duke Ener_4
Regulatory Matters (Duke Energy Ohio Narrative) (Details) $ in Millions | Jan. 31, 2020USD ($) | Sep. 03, 2019USD ($)MW | Jan. 30, 2019USD ($) | Aug. 31, 2018USD ($) | Apr. 13, 2018USD ($) | Apr. 01, 2018USD ($) | Sep. 27, 2017USD ($) | Sep. 26, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jul. 12, 2019USD ($) | Sep. 28, 2018USD ($) |
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulated electric | $ 22,615 | $ 22,097 | $ 21,177 | ||||||||||||
Regulatory assets | 15,018 | 15,622 | |||||||||||||
Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulated electric | 1,456 | 1,450 | 1,373 | ||||||||||||
Regulatory assets | 598 | 564 | |||||||||||||
Electric Base Rate Case | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Requested rate increase (decrease) | $ 15 | ||||||||||||||
Requested return on equity, percentage | 10.40% | ||||||||||||||
Requested rate increase (decrease), amended, amount | $ (19) | ||||||||||||||
Requested capital structure, percentage | 50.75% | ||||||||||||||
Approved return on equity, percentage | 9.84% | ||||||||||||||
Requested debt structure, percentage | 49.25% | ||||||||||||||
Approved rate increase (decrease) amount by state commission | $ (20) | ||||||||||||||
Energy Efficiency Cost Recovery Program | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Approved rate increase (decrease) amount by state commission | $ 56 | ||||||||||||||
Regulated electric | $ 20 | ||||||||||||||
MGP Cost Recovery - 2009 Through 2012 | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulatory assets | 55 | ||||||||||||||
MGP Cost Recovery - 2013 Through 2017 | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulatory assets | $ 26 | ||||||||||||||
MGP Cost Recovery - 2018 | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulatory assets | 20 | ||||||||||||||
Duke Energy Kentucky Gas Base Rate Case | KPSC | Duke Energy Kentucky | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Requested rate increase (decrease) | $ 11 | ||||||||||||||
Requested rate increase (decrease), amended, amount | $ (5) | ||||||||||||||
Approved return on equity, percentage | 9.70% | ||||||||||||||
Approved rate increase (decrease) amount by state commission | $ 7 | ||||||||||||||
Requested rate increase (decrease), percent | 11.10% | ||||||||||||||
Duke Energy Kentucky Electric Base Rate Case | KPSC | Duke Energy Kentucky | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Requested rate increase (decrease) | $ 46 | ||||||||||||||
Requested rate increase (decrease), percent | 12.50% | ||||||||||||||
Distribution battery energy storage system (in MW) | MW | 3.4 | ||||||||||||||
Duke Energy Kentucky Electric Base Rate Case, Kentucky Attorney General | KPSC | Duke Energy Kentucky | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Requested rate increase (decrease) | $ 26 | ||||||||||||||
Minimum | Electric Base Rate Case | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Requested rate increase (decrease) | $ (18) | ||||||||||||||
Requested return on equity, percentage | 9.22% | ||||||||||||||
Minimum | Natural Gas Pipeline Extension | Ohio Power Siting Board | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Estimated capital cost excluding AFUDC | 163 | ||||||||||||||
Maximum | Electric Base Rate Case | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Requested rate increase (decrease) | $ (29) | ||||||||||||||
Requested return on equity, percentage | 10.24% | ||||||||||||||
Requested rider revenue increase | $ 10 | ||||||||||||||
Maximum | Energy Efficiency Cost Recovery Program | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Approved rate increase (decrease) amount by state commission | $ 38 | ||||||||||||||
Maximum | Natural Gas Pipeline Extension | Ohio Power Siting Board | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Estimated capital cost excluding AFUDC | 245 | ||||||||||||||
MGP Costs - Regulatory Disallowance | MGP Cost Recovery - 2013 Through 2017 | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulatory assets | $ 12 | ||||||||||||||
MGP Costs - Regulatory Disallowance | MGP Cost Recovery - 2018 | Public Utilities Commission Of Ohio | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulatory assets | $ 11 | ||||||||||||||
RTO Realignment | Duke Energy Ohio | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Regulatory assets | $ 40 | $ 43 | |||||||||||||
Subsequent Event | Duke Energy Kentucky Electric Base Rate Case | KPSC | Duke Energy Kentucky | |||||||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||||||
Requested rate increase (decrease) | $ 44 |
Regulatory Matters (Duke Ener_5
Regulatory Matters (Duke Energy Ohio - Exit Obligation Rollforward) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Public Utilities, General Disclosures [Line Items] | |
Balance, beginning of period | $ 205 |
Cash reductions | (188) |
Balance, end of period | 41 |
Duke Energy Ohio | |
Public Utilities, General Disclosures [Line Items] | |
Balance, beginning of period | 2 |
Cash reductions | (2) |
Balance, end of period | 1 |
RTO Realignment | Duke Energy Ohio | |
Public Utilities, General Disclosures [Line Items] | |
Balance, beginning of period | 58 |
Provisions/Adjustments | 0 |
Cash reductions | (4) |
Balance, end of period | $ 54 |
Regulatory Matters (Duke Ener_6
Regulatory Matters (Duke Energy Indiana Narrative) (Details) - Duke Energy Indiana - Indiana Rate Case 2019 - Indiana Utility Regulatory Commission - USD ($) $ in Millions | Dec. 04, 2019 | Sep. 09, 2019 | Jul. 02, 2019 | Dec. 31, 2018 |
Public Utilities, General Disclosures [Line Items] | ||||
Requested rate increase (decrease) | $ 395 | $ 395 | ||
Disclosure of rate matters, rate base | $ 10,200 | |||
Requested rate increase (decrease), amended, amount | $ 396 | 393 | ||
Requested rate increase (decrease), amount amended from initial request | $ (2) | |||
Requested rate increase (decrease), percent | 15.00% | |||
Requested rate increase (decrease), percentage, net of tax | 15.60% | 17.00% |
Regulatory Matters (Piedmont Na
Regulatory Matters (Piedmont Narrative) (Details) - Piedmont - USD ($) $ in Millions | Oct. 31, 2019 | Aug. 13, 2019 | Apr. 01, 2019 | Jun. 30, 2019 | Nov. 30, 2018 |
NCUC IMR Petition Filed April 2019 | NCUC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase (decrease) amount by state commission | $ 9 | ||||
NCUC IMR Petition Filed October 2019 | NCUC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Requested rate increase (decrease) | $ 11 | ||||
Tennessee Integrity Management Rider Filing November 2018 | TPUC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase (decrease) amount by state commission | $ 4 | ||||
2019 North Carolina Rate Case | NCUC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Requested rate increase (decrease) | $ 83 | $ 83 | |||
Requested rate increase (decrease), percent | 9.00% | ||||
Requested return on equity, percentage | 9.70% | ||||
Requested capital structure, percentage | 52.00% | ||||
Requested debt structure, percentage | 48.00% | ||||
Requested gross rate case revenue increase | $ 109 | ||||
Measurement period adjustments | (23) | ||||
Tax benefit from change in enacted tax rates | (37) | ||||
North Carolina DOR | State | 2019 North Carolina Rate Case | NCUC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved increase (decrease) through EDIT Rider | $ (21) |
Regulatory Matters (Other Regul
Regulatory Matters (Other Regulatory Matters Narrative) (Details) - USD ($) $ in Millions | Sep. 02, 2014 | Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Public Utilities, General Disclosures [Line Items] | |||||
Investments in equity method unconsolidated affiliates | $ 1,936 | $ 1,936 | $ 1,409 | $ 1,175 | |
Remaining net book value | 102,127 | 102,127 | 91,694 | ||
Atlantic Coast Pipeline (ACP) | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 47.00% | ||||
Supply contract, term | 20 years | ||||
Estimated capital cost | 8,000 | 8,000 | |||
Investments in equity method unconsolidated affiliates | 1,200 | 1,200 | |||
Maximum loss exposure, amount | $ 827 | $ 827 | |||
Atlantic Coast Pipeline (ACP) | Dominion Resources | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 48.00% | ||||
Atlantic Coast Pipeline (ACP) | Southern Company Gas | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 5.00% | ||||
Constitution | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 24.00% | 24.00% | |||
OTTI impairment loss | $ 25 | ||||
Constitution | Williams Partners L.P. | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 41.00% | 41.00% | |||
Duke Energy Carolinas | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Remaining net book value | $ 32,397 | $ 32,397 | 29,245 | ||
Duke Energy Carolinas | Atlantic Coast Pipeline (ACP) | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Long-term purchase commitment term | 20 years | ||||
Duke Energy Progress | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Remaining net book value | 22,934 | 22,934 | 20,398 | ||
Duke Energy Progress | Atlantic Coast Pipeline (ACP) | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Long-term purchase commitment term | 20 years | ||||
Piedmont | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Investments in equity method unconsolidated affiliates | 83 | 83 | 64 | ||
Remaining net book value | 6,765 | 6,765 | $ 5,911 | ||
Piedmont | Atlantic Coast Pipeline (ACP) | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Long-term purchase commitment term | 20 years | ||||
Generation Facilities Evaluated For Retirement | Duke Energy Carolinas | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Remaining net book value | 721 | 721 | |||
Generation Facilities Evaluated For Retirement | Duke Energy Progress | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Remaining net book value | $ 1,200 | $ 1,200 | |||
Financial guarantee | ACP | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Maximum exposure percentage | 47.00% |
Regulatory Matters (Schedule _2
Regulatory Matters (Schedule of Net Carrying Value Of Facilities) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)MW | Dec. 31, 2018USD ($) | |
Public Utilities, General Disclosures [Line Items] | ||
Remaining net book value | $ 102,127 | $ 91,694 |
Piedmont | ||
Public Utilities, General Disclosures [Line Items] | ||
Remaining net book value | 6,765 | 5,911 |
Duke Energy Carolinas | ||
Public Utilities, General Disclosures [Line Items] | ||
Remaining net book value | 32,397 | 29,245 |
Duke Energy Indiana | ||
Public Utilities, General Disclosures [Line Items] | ||
Remaining net book value | $ 11,072 | $ 10,529 |
Generating facilities planned for retirement | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 5,002 | |
Remaining net book value | $ 2,937 | |
Generating facilities planned for retirement | Duke Energy Carolinas | Allen Steam Station Units 1-3 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 585 | |
Remaining net book value | $ 152 | |
Generating facilities planned for retirement | Duke Energy Indiana | Gallagher Units 2 and 4 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 280 | |
Remaining net book value | $ 114 | |
Generating facilities planned for retirement | Duke Energy Indiana | Gibson Units 1 - 5 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 3,132 | |
Remaining net book value | $ 1,697 | |
Generating facilities planned for retirement | Duke Energy Indiana | Cayuga Units 1 - 2 | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 1,005 | |
Remaining net book value | $ 974 |
Commitments and Contingencies_2
Commitments and Contingencies (Narrative) (Details) $ in Millions | Feb. 11, 2020claim | Jun. 18, 2018USD ($) | Apr. 26, 2017claim | Feb. 28, 2019USD ($) | Dec. 31, 2019USD ($)plantbasinreactorclaim | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($)plantbasinreactorclaim | Jun. 13, 2019claim | Dec. 31, 2018USD ($) | May 16, 2017claim |
Insurance [Abstract] | ||||||||||
Number of licensed nuclear reactors | reactor | 98 | 98 | ||||||||
Insured public liability limit per nuclear incident | $ 13,900 | $ 13,900 | ||||||||
Excess nuclear liability program coverage | 13,500 | 13,500 | ||||||||
Pro rata assessment for each reactor owned for each incident exceeding public liability insurance | 138 | 138 | ||||||||
Annual payment limit to pro rata assessments | 20.5 | 20.5 | ||||||||
Industry aggregate limit | 3,200 | 3,200 | ||||||||
Sublimit for non-nuclear terrorist events | 1,800 | 1,800 | ||||||||
Sublimit property damage losses | 1,500 | 1,500 | ||||||||
Additional nuclear accident limit | $ 1,250 | $ 1,250 | ||||||||
Insurance coverage percentage initial weeks | 100.00% | 100.00% | ||||||||
Accidental outage insurance coverage initial weeks | 365 days | |||||||||
Insurance coverage percentage additional weeks | 80.00% | 80.00% | ||||||||
Accidental outage insurance coverage additional weeks | 770 days | |||||||||
Weeks of sublimits for accidental outage coverage | 728 days | |||||||||
Sublimit accidental outage recovery | $ 328 | $ 328 | ||||||||
Maximum magnitude of retroactive premiums | 10 | 10 | ||||||||
Maximum period for retroactive premium assessment | 6 years | |||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Reduction of prior year impairment | $ (14) | $ 25 | $ 11 | |||||||
Reserves for legal matters | $ 62 | $ 62 | $ 65 | |||||||
Coal Ash Insurance Coverage Litigation | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Number of NC and SC plants with ash basins | plant | 15 | 15 | ||||||||
NCDEQ State Enforcement Actions | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Number of Plants with No Disputed Facts | plant | 7 | 7 | ||||||||
Facilities with ash basins | plant | 14 | 14 | ||||||||
Number of Plants with Disputed Facts | plant | 7 | 7 | ||||||||
Duke Energy Carolinas | ||||||||||
Insurance [Abstract] | ||||||||||
Primary nuclear liability program coverage | $ 450 | $ 450 | ||||||||
Max retroactive premium assessments | 155 | |||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Reserves for legal matters | 2 | 2 | 9 | |||||||
Duke Energy Carolinas | Asbestos Issue | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Asbestos-related injuries and damages reserves | 604 | 604 | 630 | |||||||
Reinsurance retention policy, excess retention, amount reinsured | 747 | |||||||||
Loss contingency, receivable, noncurrent | $ 742 | $ 742 | 739 | |||||||
Duke Energy Carolinas | Asbestos Issue | Non Malignant Asbestos Claim | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, pending claims, number | claim | 123 | 123 | ||||||||
Asbestos-related injuries and damages reserves | $ 32 | $ 32 | ||||||||
Duke Energy Carolinas | Asbestos Issue | Malignant Asbestos Claim | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, pending claims, number | claim | 49 | 49 | ||||||||
Asbestos-related injuries and damages reserves | $ 16 | $ 16 | ||||||||
Duke Energy Carolinas | McGuire | ||||||||||
Insurance [Abstract] | ||||||||||
Number of licensed nuclear reactors | reactor | 2 | 2 | ||||||||
Accidental outage insurance coverage policy limit | $ 490 | $ 490 | ||||||||
Duke Energy Carolinas | Catawba | ||||||||||
Insurance [Abstract] | ||||||||||
Number of licensed nuclear reactors | reactor | 2,000,000 | 2,000,000 | ||||||||
Dedicated additional nuclear accident limit | $ 1,250 | $ 1,250 | ||||||||
Additional Non-nuclear accident limit | 750 | 750 | ||||||||
Accidental outage insurance coverage policy limit | $ 490 | $ 490 | ||||||||
Potential obligation percentage | 100.00% | 100.00% | ||||||||
Duke Energy Carolinas | Oconee | ||||||||||
Insurance [Abstract] | ||||||||||
Number of licensed nuclear reactors | reactor | 3 | 3 | ||||||||
Additional Non-nuclear accident limit | $ 750 | $ 750 | ||||||||
Accidental outage insurance coverage policy limit | $ 406 | $ 406 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 9 | 9 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | Settled agreement | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 7 | 7 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | Allen | Settled agreement | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 2 | 2 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | Belews Creek | Settled agreement | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 1 | 1 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | Mayo | Settled agreement | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 1 | 1 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | Roxboro | Settled agreement | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 1 | 1 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | Rogers | Settled agreement | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 2 | 2 | ||||||||
Duke Energy Carolinas and Duke Energy Progress | Marshall and Roxboro | Settled agreement | ||||||||||
Insurance [Abstract] | ||||||||||
Number of coal ash basins | basin | 2 | 2 | ||||||||
Duke Energy Florida | ||||||||||
Insurance [Abstract] | ||||||||||
Primary nuclear liability program coverage | $ 100 | $ 100 | ||||||||
Max retroactive premium assessments | 1 | |||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Reserves for legal matters | 22 | 22 | 24 | |||||||
Duke Energy Florida | Spent Nuclear Fuel Matters | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Damages sought | $ 203 | |||||||||
Duke Energy Florida | Fluor Letter Of Credit | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Drawings on credit facility | $ 67 | |||||||||
Duke Energy Florida | Crystal River Unit 3 | ||||||||||
Insurance [Abstract] | ||||||||||
Sublimit property damage losses | 50 | 50 | ||||||||
Duke Energy Florida | Citrus County Combined Cycle Facility | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Reduction of prior year impairment | 36 | |||||||||
Progress Energy | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Reduction of prior year impairment | 11 | $ 25 | 36 | |||||||
Reserves for legal matters | 55 | 55 | 54 | |||||||
Duke Energy Progress | ||||||||||
Insurance [Abstract] | ||||||||||
Primary nuclear liability program coverage | 450 | 450 | ||||||||
Max retroactive premium assessments | 94 | |||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Reserves for legal matters | $ 12 | $ 12 | 12 | |||||||
Duke Energy Progress | RRBA Federal Citizens Suits | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, pending claims, number | claim | 1 | |||||||||
Duke Energy Progress | Spent Nuclear Fuel Matters | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Damages sought | $ 100 | |||||||||
Duke Energy Progress | Subsequent Event | RRBA Federal Citizens Suits | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss Contingency, Claims Dismissed, Number | claim | 3 | |||||||||
Duke Energy Progress | Robinson | ||||||||||
Insurance [Abstract] | ||||||||||
Number of licensed nuclear reactors | reactor | 1 | 1 | ||||||||
Accidental outage insurance coverage policy limit | $ 364 | $ 364 | ||||||||
Duke Energy Progress | Harris | ||||||||||
Insurance [Abstract] | ||||||||||
Number of licensed nuclear reactors | reactor | 1,000,000 | 1,000,000 | ||||||||
Accidental outage insurance coverage policy limit | $ 462 | $ 462 | ||||||||
Duke Energy Progress | Brunswick | ||||||||||
Insurance [Abstract] | ||||||||||
Number of licensed nuclear reactors | reactor | 2 | 2 | ||||||||
Accidental outage insurance coverage policy limit | $ 462 | $ 462 | ||||||||
Duke Energy Progress | Mayo | RRBA Federal Citizens Suits | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss Contingency, Claims Dismissed, Number | claim | 4 | |||||||||
Loss contingency, pending claims, number | claim | 2 | |||||||||
Duke Energy Progress | Roxboro | RRBA Federal Citizens Suits | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, pending claims, number | claim | 2 | |||||||||
Piedmont | ||||||||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||
Reserves for legal matters | $ 1 | $ 1 | $ 1 |
Commitments and Contingencies_3
Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | $ 77 | $ 81 | $ 98 |
Provision/adjustments | 33 | 26 | 8 |
Cash reductions | (52) | (30) | (25) |
Ending balance | 58 | 77 | 81 |
Duke Energy Carolinas | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 11 | 10 | 10 |
Provision/adjustments | 6 | 3 | 3 |
Cash reductions | (6) | (2) | (3) |
Ending balance | 11 | 11 | 10 |
Progress Energy | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 11 | 15 | 18 |
Provision/adjustments | 9 | 2 | 3 |
Cash reductions | (4) | (6) | (6) |
Ending balance | 16 | 11 | 15 |
Duke Energy Progress | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 4 | 3 | 3 |
Provision/adjustments | 2 | 3 | 2 |
Cash reductions | (2) | (2) | (2) |
Ending balance | 4 | 4 | 3 |
Duke Energy Florida | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 6 | 12 | 14 |
Provision/adjustments | 5 | (2) | 2 |
Cash reductions | (2) | (4) | (4) |
Ending balance | 9 | 6 | 12 |
Duke Energy Ohio | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 48 | 47 | 59 |
Provision/adjustments | 11 | 21 | 3 |
Cash reductions | (40) | (20) | (15) |
Ending balance | 19 | 48 | 47 |
Duke Energy Indiana | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 5 | 5 | 10 |
Provision/adjustments | 1 | (4) | |
Cash reductions | (1) | (1) | (1) |
Ending balance | 4 | 5 | 5 |
Piedmont | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 2 | 2 | 1 |
Provision/adjustments | 7 | 1 | 1 |
Cash reductions | (1) | (1) | |
Ending balance | 8 | $ 2 | $ 2 |
Environmental reserves | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Additional losses in excess of recorded reserves that could be incurred | 59 | ||
Environmental reserves | Duke Energy Carolinas | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Additional losses in excess of recorded reserves that could be incurred | 11 | ||
Environmental reserves | Duke Energy Ohio | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Additional losses in excess of recorded reserves that could be incurred | 42 | ||
Environmental reserves | Piedmont | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Additional losses in excess of recorded reserves that could be incurred | $ 2 |
Commitments and Contingencies_4
Commitments and Contingencies (Schedule of Legal Reserves) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | $ 62 | $ 65 |
Duke Energy Carolinas | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 2 | 9 |
Progress Energy | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 55 | 54 |
Duke Energy Progress | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 12 | 12 |
Duke Energy Florida | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | 22 | 24 |
Piedmont | ||
Legal Reserves Details [Line Items] | ||
Reserves for legal matters | $ 1 | $ 1 |
Commitments and Contingencies_5
Commitments and Contingencies (Purchased Power) (Details) - Purchased Power Contracts $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Duke Energy Progress | |
Unconditional Purchase Obligations [Abstract] | |
2020 | $ 46 |
2021 | 66 |
2022 | 63 |
2023 | 55 |
2024 | 56 |
Thereafter | 123 |
Total | $ 409 |
Duke Energy Progress | Maximum | |
Unconditional Purchase Obligations [Abstract] | |
Net plant output percent | 100.00% |
Duke Energy Florida | |
Unconditional Purchase Obligations [Abstract] | |
2020 | $ 374 |
2021 | 356 |
2022 | 354 |
2023 | 374 |
2024 | 262 |
Thereafter | 91 |
Total | $ 1,811 |
Duke Energy Florida | Minimum | |
Unconditional Purchase Obligations [Abstract] | |
Net plant output percent | 81.00% |
Duke Energy Florida | Maximum | |
Unconditional Purchase Obligations [Abstract] | |
Net plant output percent | 100.00% |
Duke Energy Ohio | |
Unconditional Purchase Obligations [Abstract] | |
2020 | $ 132 |
2021 | 107 |
2022 | 32 |
Total | $ 271 |
Duke Energy Ohio | Minimum | |
Unconditional Purchase Obligations [Abstract] | |
Net plant output percent | 1.00% |
Duke Energy Ohio | Maximum | |
Unconditional Purchase Obligations [Abstract] | |
Net plant output percent | 9.00% |
Commitments and Contingencies_6
Commitments and Contingencies (Gas Supply Contracts) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Natural Gas Supply and Capacity Contracts | |
Long-term Purchase Commitment [Line Items] | |
2020 | $ 297 |
2021 | 280 |
2022 | 225 |
2023 | 129 |
2024 | 118 |
Thereafter | 714 |
Total | $ 1,763 |
Maximum | Pipeline and storage capacity contracts | |
Long-term Purchase Commitment [Line Items] | |
Long-term purchase commitment term | 15 years |
Maximum | Natural gas supply contracts fixed payment | |
Long-term Purchase Commitment [Line Items] | |
Long-term purchase commitment term | 6 years |
Maximum | Natural gas supply purchase commitments | |
Long-term Purchase Commitment [Line Items] | |
Long-term purchase commitment term | 11 years |
Duke Energy Ohio | Natural Gas Supply and Capacity Contracts | |
Long-term Purchase Commitment [Line Items] | |
2020 | $ 39 |
2021 | 33 |
2022 | 14 |
2023 | 3 |
Total | 89 |
Piedmont | Natural Gas Supply and Capacity Contracts | |
Long-term Purchase Commitment [Line Items] | |
2020 | 258 |
2021 | 247 |
2022 | 211 |
2023 | 126 |
2024 | 118 |
Thereafter | 714 |
Total | $ 1,674 |
Leases (Operating Lease Right-o
Leases (Operating Lease Right-of-use Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Jan. 01, 2019 |
Lessee, Lease, Description [Line Items] | ||
ROU assets | $ 1,658 | $ 1,750 |
Operating lease liabilities – current | 208 | 205 |
Operating lease liabilities – noncurrent | 1,432 | 1,504 |
Duke Energy Carolinas | ||
Lessee, Lease, Description [Line Items] | ||
ROU assets | 123 | 153 |
Operating lease liabilities – current | 27 | 28 |
Operating lease liabilities – noncurrent | 102 | 127 |
Progress Energy | ||
Lessee, Lease, Description [Line Items] | ||
ROU assets | 788 | 863 |
Operating lease liabilities – current | 95 | 96 |
Operating lease liabilities – noncurrent | 697 | 766 |
Duke Energy Progress | ||
Lessee, Lease, Description [Line Items] | ||
ROU assets | 387 | 407 |
Operating lease liabilities – current | 37 | 35 |
Operating lease liabilities – noncurrent | 354 | 371 |
Duke Energy Florida | ||
Lessee, Lease, Description [Line Items] | ||
ROU assets | 401 | 456 |
Operating lease liabilities – current | 58 | 61 |
Operating lease liabilities – noncurrent | 343 | 395 |
Duke Energy Ohio | ||
Lessee, Lease, Description [Line Items] | ||
ROU assets | 21 | 23 |
Operating lease liabilities – current | 1 | 1 |
Operating lease liabilities – noncurrent | 21 | 22 |
Duke Energy Indiana | ||
Lessee, Lease, Description [Line Items] | ||
ROU assets | 57 | 61 |
Operating lease liabilities – current | 3 | 4 |
Operating lease liabilities – noncurrent | 55 | 58 |
Piedmont | ||
Lessee, Lease, Description [Line Items] | ||
ROU assets | 24 | 26 |
Operating lease liabilities – current | 4 | 4 |
Operating lease liabilities – noncurrent | $ 23 | $ 25 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Lessee, Lease, Description [Line Items] | |||
Operating lease assets, cost basis | $ 147,654 | $ 134,458 | |
Piedmont | |||
Lessee, Lease, Description [Line Items] | |||
Operating lease assets, cost basis | 8,446 | 7,486 | |
Construction and transportation of natural gas pipelines | Piedmont | |||
Lessee, Lease, Description [Line Items] | |||
Net Investment in Lease, Current | 4 | ||
Renewable energy projects | |||
Lessee, Lease, Description [Line Items] | |||
Contingent lease payments | 264 | 268 | $ 262 |
Operating lease assets, cost basis | 3,349 | 3,358 | |
Operating lease assets, accumulated depreciation | 721 | $ 602 | |
Duke Energy Carolinas | Construction and transportation of natural gas pipelines | Piedmont | |||
Lessee, Lease, Description [Line Items] | |||
Net Investment in Lease, Noncurrent | $ 70 |
Leases (Lease Costs) (Details)
Leases (Lease Costs) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | $ 292 |
Short-term lease expense | 16 |
Variable lease expense | 47 |
Finance lease expense | |
Amortization of leased assets | 111 |
Interest on lease liabilities | 61 |
Total finance lease expense | 172 |
Total lease expense | 527 |
Duke Energy Carolinas | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | 47 |
Short-term lease expense | 5 |
Variable lease expense | 22 |
Finance lease expense | |
Amortization of leased assets | 6 |
Interest on lease liabilities | 15 |
Total finance lease expense | 21 |
Total lease expense | 95 |
Progress Energy | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | 161 |
Short-term lease expense | 9 |
Variable lease expense | 22 |
Finance lease expense | |
Amortization of leased assets | 21 |
Interest on lease liabilities | 42 |
Total finance lease expense | 63 |
Total lease expense | 255 |
Duke Energy Progress | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | 69 |
Short-term lease expense | 4 |
Variable lease expense | 16 |
Finance lease expense | |
Amortization of leased assets | 5 |
Interest on lease liabilities | 33 |
Total finance lease expense | 38 |
Total lease expense | 127 |
Duke Energy Florida | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | 92 |
Short-term lease expense | 5 |
Variable lease expense | 6 |
Finance lease expense | |
Amortization of leased assets | 16 |
Interest on lease liabilities | 9 |
Total finance lease expense | 25 |
Total lease expense | 128 |
Duke Energy Ohio | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | 11 |
Short-term lease expense | 1 |
Finance lease expense | |
Amortization of leased assets | 1 |
Total finance lease expense | 1 |
Total lease expense | 13 |
Duke Energy Indiana | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | 20 |
Short-term lease expense | 2 |
Variable lease expense | 1 |
Finance lease expense | |
Interest on lease liabilities | 1 |
Total finance lease expense | 1 |
Total lease expense | 24 |
Piedmont | |
Lessee, Lease, Description [Line Items] | |
Operating lease expense | 5 |
Variable lease expense | 1 |
Finance lease expense | |
Total lease expense | $ 6 |
Leases (Rent Expense) (Details)
Leases (Rent Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | $ 268 | $ 241 |
Duke Energy Carolinas | ||
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | 49 | 44 |
Progress Energy | ||
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | 143 | 130 |
Duke Energy Progress | ||
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | 75 | 75 |
Duke Energy Florida | ||
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | 68 | 55 |
Duke Energy Ohio | ||
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | 13 | 15 |
Duke Energy Indiana | ||
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | 21 | 23 |
Piedmont | ||
Operating Leased Assets [Line Items] | ||
Rental expense on operating leases | $ 11 | $ 7 |
Leases (Operating Lease Maturit
Leases (Operating Lease Maturities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | $ 268 | |
2021 | 216 | |
2022 | 201 | |
2023 | 191 | |
2024 | 176 | |
Thereafter | 984 | |
Total operating lease payments | 2,036 | |
Less: present value discount | (396) | |
Total operating lease liabilities | 1,640 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | $ 239 | |
2020 | 219 | |
2021 | 186 | |
2022 | 170 | |
2023 | 160 | |
Thereafter | 1,017 | |
Total | 1,991 | |
Duke Energy Carolinas | ||
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | 31 | |
2021 | 19 | |
2022 | 19 | |
2023 | 17 | |
2024 | 13 | |
Thereafter | 57 | |
Total operating lease payments | 156 | |
Less: present value discount | (27) | |
Total operating lease liabilities | 129 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | 33 | |
2020 | 29 | |
2021 | 19 | |
2022 | 19 | |
2023 | 17 | |
Thereafter | 68 | |
Total | 185 | |
Progress Energy | ||
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | 123 | |
2021 | 99 | |
2022 | 95 | |
2023 | 95 | |
2024 | 95 | |
Thereafter | 462 | |
Total operating lease payments | 969 | |
Less: present value discount | (177) | |
Total operating lease liabilities | 792 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | 97 | |
2020 | 90 | |
2021 | 79 | |
2022 | 76 | |
2023 | 77 | |
Thereafter | 455 | |
Total | 874 | |
Duke Energy Progress | ||
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | 51 | |
2021 | 44 | |
2022 | 40 | |
2023 | 41 | |
2024 | 41 | |
Thereafter | 283 | |
Total operating lease payments | 500 | |
Less: present value discount | (109) | |
Total operating lease liabilities | 391 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | 49 | |
2020 | 46 | |
2021 | 37 | |
2022 | 34 | |
2023 | 35 | |
Thereafter | 314 | |
Total | 515 | |
Duke Energy Florida | ||
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | 72 | |
2021 | 55 | |
2022 | 55 | |
2023 | 54 | |
2024 | 54 | |
Thereafter | 179 | |
Total operating lease payments | 469 | |
Less: present value discount | (68) | |
Total operating lease liabilities | 401 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | 48 | |
2020 | 44 | |
2021 | 42 | |
2022 | 42 | |
2023 | 42 | |
Thereafter | 141 | |
Total | 359 | |
Duke Energy Ohio | ||
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | 2 | |
2021 | 2 | |
2022 | 2 | |
2023 | 2 | |
2024 | 2 | |
Thereafter | 21 | |
Total operating lease payments | 31 | |
Less: present value discount | (9) | |
Total operating lease liabilities | 22 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | 2 | |
2020 | 2 | |
2021 | 2 | |
2022 | 2 | |
2023 | 2 | |
Thereafter | 23 | |
Total | 33 | |
Duke Energy Indiana | ||
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | 5 | |
2021 | 4 | |
2022 | 4 | |
2023 | 4 | |
2024 | 4 | |
Thereafter | 64 | |
Total operating lease payments | 85 | |
Less: present value discount | (27) | |
Total operating lease liabilities | 58 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | 6 | |
2020 | 5 | |
2021 | 4 | |
2022 | 4 | |
2023 | 5 | |
Thereafter | 66 | |
Total | 90 | |
Piedmont | ||
Operating Lease Liabilities, Payments Due (Topic 842) | ||
2020 | 5 | |
2021 | 5 | |
2022 | 5 | |
2023 | 5 | |
2024 | 5 | |
Thereafter | 5 | |
Total operating lease payments | 30 | |
Less: present value discount | (3) | |
Total operating lease liabilities | $ 27 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity (Topic 840) | ||
2019 | 5 | |
2020 | 5 | |
2021 | 5 | |
2022 | 5 | |
2023 | 6 | |
Thereafter | 11 | |
Total | $ 37 |
Leases (Finance Lease Maturitie
Leases (Finance Lease Maturities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Finance Lease Liabilities, Payments, Due (Topic 842) | ||
2020 | $ 181 | |
2021 | 186 | |
2022 | 173 | |
2023 | 175 | |
2024 | 121 | |
Thereafter | 823 | |
Total finance lease payments | 1,659 | |
Less: amounts representing interest | (690) | |
Total finance lease liabilities | 969 | |
Finance Lease Liabilities, Payments Due (Topic 840) | ||
2019 | $ 170 | |
2020 | 174 | |
2021 | 177 | |
2022 | 165 | |
2023 | 165 | |
Thereafter | 577 | |
Minimum annual payments | 1,428 | |
Less: amount representing interest | (487) | |
Total | 941 | |
Duke Energy Carolinas | ||
Finance Lease Liabilities, Payments, Due (Topic 842) | ||
2020 | 28 | |
2021 | 23 | |
2022 | 23 | |
2023 | 23 | |
2024 | 23 | |
Thereafter | 314 | |
Total finance lease payments | 434 | |
Less: amounts representing interest | (255) | |
Total finance lease liabilities | 179 | |
Finance Lease Liabilities, Payments Due (Topic 840) | ||
2019 | 20 | |
2020 | 20 | |
2021 | 15 | |
2022 | 15 | |
2023 | 15 | |
Thereafter | 204 | |
Minimum annual payments | 289 | |
Less: amount representing interest | (180) | |
Total | 109 | |
Progress Energy | ||
Finance Lease Liabilities, Payments, Due (Topic 842) | ||
2020 | 69 | |
2021 | 69 | |
2022 | 69 | |
2023 | 69 | |
2024 | 55 | |
Thereafter | 539 | |
Total finance lease payments | 870 | |
Less: amounts representing interest | (465) | |
Total finance lease liabilities | 405 | |
Finance Lease Liabilities, Payments Due (Topic 840) | ||
2019 | 45 | |
2020 | 46 | |
2021 | 45 | |
2022 | 45 | |
2023 | 45 | |
Thereafter | 230 | |
Minimum annual payments | 456 | |
Less: amount representing interest | (205) | |
Total | 251 | |
Duke Energy Progress | ||
Finance Lease Liabilities, Payments, Due (Topic 842) | ||
2020 | 44 | |
2021 | 44 | |
2022 | 44 | |
2023 | 44 | |
2024 | 44 | |
Thereafter | 528 | |
Total finance lease payments | 748 | |
Less: amounts representing interest | (441) | |
Total finance lease liabilities | 307 | |
Finance Lease Liabilities, Payments Due (Topic 840) | ||
2019 | 20 | |
2020 | 21 | |
2021 | 20 | |
2022 | 21 | |
2023 | 21 | |
Thereafter | 209 | |
Minimum annual payments | 312 | |
Less: amount representing interest | (175) | |
Total | 137 | |
Duke Energy Florida | ||
Finance Lease Liabilities, Payments, Due (Topic 842) | ||
2020 | 25 | |
2021 | 25 | |
2022 | 25 | |
2023 | 25 | |
2024 | 11 | |
Thereafter | 11 | |
Total finance lease payments | 122 | |
Less: amounts representing interest | (24) | |
Total finance lease liabilities | 98 | |
Finance Lease Liabilities, Payments Due (Topic 840) | ||
2019 | 25 | |
2020 | 25 | |
2021 | 25 | |
2022 | 24 | |
2023 | 24 | |
Thereafter | 21 | |
Minimum annual payments | 144 | |
Less: amount representing interest | (30) | |
Total | 114 | |
Duke Energy Ohio | ||
Finance Lease Liabilities, Payments Due (Topic 840) | ||
2019 | 2 | |
Minimum annual payments | 2 | |
Total | 2 | |
Duke Energy Indiana | ||
Finance Lease Liabilities, Payments, Due (Topic 842) | ||
2020 | 1 | |
2021 | 1 | |
2022 | 1 | |
2023 | 1 | |
2024 | 1 | |
Thereafter | 27 | |
Total finance lease payments | 32 | |
Less: amounts representing interest | (22) | |
Total finance lease liabilities | $ 10 | |
Finance Lease Liabilities, Payments Due (Topic 840) | ||
2019 | 1 | |
2020 | 1 | |
2021 | 1 | |
2022 | 1 | |
2023 | 1 | |
Thereafter | 27 | |
Minimum annual payments | 32 | |
Less: amount representing interest | (22) | |
Total | $ 10 |
Leases (Supplemental Financial
Leases (Supplemental Financial Information) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Jan. 01, 2019 | |
Assets | ||
ROU assets | $ 1,658 | $ 1,750 |
Finance | 926 | |
Total lease assets | 2,584 | |
Current | ||
Operating | 208 | 205 |
Finance | 119 | |
Noncurrent | ||
Operating lease liabilities | 1,432 | 1,504 |
Finance | 850 | |
Total lease liabilities | 2,609 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 285 | |
Operating cash flows from finance leases | 61 | |
Financing cash flows from finance leases | 111 | |
Lease assets obtained in exchange for new lease liabilities (non-cash) | ||
Operating, lease assets obtained | 194 | |
Finance | $ 251 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 11 years | |
Finance leases | 13 years | |
Weighted-average discount rate | ||
Operating leases | 3.90% | |
Finance leases | 8.10% | |
Duke Energy Carolinas | ||
Assets | ||
ROU assets | $ 123 | 153 |
Finance | 198 | |
Total lease assets | 321 | |
Current | ||
Operating | 27 | 28 |
Finance | 7 | |
Noncurrent | ||
Operating lease liabilities | 102 | 127 |
Finance | 172 | |
Total lease liabilities | 308 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 34 | |
Operating cash flows from finance leases | 15 | |
Financing cash flows from finance leases | 6 | |
Lease assets obtained in exchange for new lease liabilities (non-cash) | ||
Operating, lease assets obtained | 44 | |
Finance | $ 76 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 9 years | |
Finance leases | 19 years | |
Weighted-average discount rate | ||
Operating leases | 3.50% | |
Finance leases | 11.80% | |
Progress Energy | ||
Assets | ||
ROU assets | $ 788 | 863 |
Finance | 443 | |
Total lease assets | 1,231 | |
Current | ||
Operating | 95 | 96 |
Finance | 24 | |
Noncurrent | ||
Operating lease liabilities | 697 | 766 |
Finance | 381 | |
Total lease liabilities | 1,197 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 131 | |
Operating cash flows from finance leases | 42 | |
Financing cash flows from finance leases | 21 | |
Lease assets obtained in exchange for new lease liabilities (non-cash) | ||
Operating, lease assets obtained | 30 | |
Finance | $ 175 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 10 years | |
Finance leases | 16 years | |
Weighted-average discount rate | ||
Operating leases | 3.80% | |
Finance leases | 11.90% | |
Duke Energy Progress | ||
Assets | ||
ROU assets | $ 387 | 407 |
Finance | 308 | |
Total lease assets | 695 | |
Current | ||
Operating | 37 | 35 |
Finance | 6 | |
Noncurrent | ||
Operating lease liabilities | 354 | 371 |
Finance | 301 | |
Total lease liabilities | 698 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 53 | |
Operating cash flows from finance leases | 33 | |
Financing cash flows from finance leases | 5 | |
Lease assets obtained in exchange for new lease liabilities (non-cash) | ||
Operating, lease assets obtained | 30 | |
Finance | $ 175 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 12 years | |
Finance leases | 18 years | |
Weighted-average discount rate | ||
Operating leases | 3.90% | |
Finance leases | 12.40% | |
Duke Energy Florida | ||
Assets | ||
ROU assets | $ 401 | 456 |
Finance | 135 | |
Total lease assets | 536 | |
Current | ||
Operating | 58 | 61 |
Finance | 18 | |
Noncurrent | ||
Operating lease liabilities | 343 | 395 |
Finance | 80 | |
Total lease liabilities | 499 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 78 | |
Operating cash flows from finance leases | 9 | |
Financing cash flows from finance leases | $ 16 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 8 years | |
Finance leases | 11 years | |
Weighted-average discount rate | ||
Operating leases | 3.80% | |
Finance leases | 8.30% | |
Duke Energy Ohio | ||
Assets | ||
ROU assets | $ 21 | 23 |
Total lease assets | 21 | |
Current | ||
Operating | 1 | 1 |
Noncurrent | ||
Operating lease liabilities | 21 | 22 |
Total lease liabilities | 22 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 2 | |
Financing cash flows from finance leases | $ 1 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 17 years | |
Weighted-average discount rate | ||
Operating leases | 4.20% | |
Finance leases | 0.00% | |
Duke Energy Indiana | ||
Assets | ||
ROU assets | $ 57 | 61 |
Finance | 7 | |
Total lease assets | 64 | |
Current | ||
Operating | 3 | 4 |
Noncurrent | ||
Operating lease liabilities | 55 | 58 |
Finance | 10 | |
Total lease liabilities | 68 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 7 | |
Operating cash flows from finance leases | $ 1 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 18 years | |
Finance leases | 26 years | |
Weighted-average discount rate | ||
Operating leases | 4.10% | |
Finance leases | 11.90% | |
Piedmont | ||
Assets | ||
ROU assets | $ 24 | 26 |
Total lease assets | 24 | |
Current | ||
Operating | 4 | 4 |
Noncurrent | ||
Operating lease liabilities | 23 | $ 25 |
Total lease liabilities | 27 | |
Cash paid for amounts included in the measurement of lease liabilities(a) | ||
Operating cash flows from operating leases | 7 | |
Lease assets obtained in exchange for new lease liabilities (non-cash) | ||
Operating, lease assets obtained | $ 1 | |
Weighted-average remaining lease term (years) | ||
Operating leases | 6 years | |
Weighted-average discount rate | ||
Operating leases | 3.60% | |
Finance leases | 0.00% |
Debt and Credit Facilities (Sum
Debt and Credit Facilities (Summary of Debt and Related Terms) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||
Weighted-average rate | 3.92% | 4.13% |
Unsecured Debt | $ 22,477 | $ 20,955 |
Secured Debt | 4,537 | 4,297 |
First mortgage bonds | 27,977 | 25,628 |
Finance leases | 969 | |
Finance leases | 941 | |
Tax exempt bonds | 730 | 941 |
Notes payable and commercial paper | 3,588 | 4,035 |
Fair value hedge carrying value adjustment | 5 | 5 |
Unamortized debt discount and premium, net | 1,294 | 1,434 |
Unamortized debt issuance costs | (316) | (297) |
Total debt | 61,261 | 57,939 |
Short-term notes payable and commercial paper | (3,135) | (3,410) |
Current maturities of long-term debt | (3,141) | (3,406) |
Total long-term debt | 54,985 | 51,123 |
Short term obligations classified as long-term debt | $ 937 | $ 937 |
Unsecured Debt | ||
Debt Instrument [Line Items] | ||
Maturity date range, start | Dec. 31, 2020 | Dec. 31, 2019 |
Maturity date range, end | Dec. 31, 2078 | Dec. 31, 2078 |
Weighted-average rate | 4.02% | 4.26% |
Secured Debt | ||
Debt Instrument [Line Items] | ||
Maturity date range, start | Dec. 31, 2020 | Dec. 31, 2020 |
Maturity date range, end | Dec. 31, 2052 | Dec. 31, 2037 |
Weighted-average rate | 3.30% | 3.69% |
First Mortgage | ||
Debt Instrument [Line Items] | ||
Maturity date range, start | Dec. 31, 2020 | Dec. 31, 2019 |
Maturity date range, end | Dec. 31, 2049 | Dec. 31, 2048 |
Weighted-average rate | 4.13% | 4.32% |
Capital Lease Obligations | ||
Debt Instrument [Line Items] | ||
Maturity date range, start | Dec. 31, 2022 | Dec. 31, 2019 |
Maturity date range, end | Dec. 31, 2051 | Dec. 31, 2051 |
Weighted-average rate | 6.60% | 5.06% |
Tax Exempt Bonds | ||
Debt Instrument [Line Items] | ||
Maturity date range, start | Dec. 31, 2022 | Dec. 31, 2019 |
Maturity date range, end | Dec. 31, 2041 | Dec. 31, 2041 |
Weighted-average rate | 2.90% | 3.40% |
Short term obligations classified as long-term debt | $ 312 | $ 312 |
Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | $ 625 | $ 625 |
Notes Payable And Commercial Paper | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 1.98% | 2.73% |
Short term obligations classified as long-term debt | $ 625 | $ 625 |
Weighted average days to maturity | 14 days | 16 days |
Parent Company | Purchase Accounting Adjustments | ||
Debt Instrument [Line Items] | ||
Unamortized debt issuance costs | $ 37 | $ 41 |
Duke Energy Carolinas | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 1,150 | 1,150 |
Secured Debt | 544 | 450 |
First mortgage bonds | 9,557 | 8,759 |
Finance leases | 179 | |
Finance leases | 109 | |
Tax exempt bonds | 243 | 243 |
Money pool/intercompany borrowings | 329 | 739 |
Fair value hedge carrying value adjustment | 5 | 5 |
Unamortized debt discount and premium, net | (23) | (23) |
Unamortized debt issuance costs | (55) | (54) |
Total debt | 11,929 | 11,378 |
Short-term money pool/intercompany borrowings | (29) | (439) |
Current maturities of long-term debt | (458) | (6) |
Total long-term debt | 11,442 | 10,933 |
Short term obligations classified as long-term debt | 300 | 300 |
Duke Energy Carolinas | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 300 | 300 |
Progress Energy | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 3,650 | 3,800 |
Secured Debt | 1,722 | 1,703 |
First mortgage bonds | 13,800 | 13,100 |
Finance leases | 405 | |
Finance leases | 251 | |
Tax exempt bonds | 48 | 48 |
Money pool/intercompany borrowings | 1,970 | 1,385 |
Unamortized debt discount and premium, net | (29) | (29) |
Unamortized debt issuance costs | (111) | (112) |
Total debt | 21,455 | 20,146 |
Short-term money pool/intercompany borrowings | (1,821) | (1,235) |
Current maturities of long-term debt | (1,577) | (1,672) |
Total long-term debt | 18,057 | 17,239 |
Duke Energy Progress | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 700 | 50 |
Secured Debt | 335 | 300 |
First mortgage bonds | 7,575 | 7,574 |
Finance leases | 307 | |
Finance leases | 137 | |
Tax exempt bonds | 48 | 48 |
Money pool/intercompany borrowings | 216 | 444 |
Unamortized debt discount and premium, net | (17) | (15) |
Unamortized debt issuance costs | (40) | (40) |
Total debt | 9,124 | 8,498 |
Short-term money pool/intercompany borrowings | (66) | (294) |
Current maturities of long-term debt | (1,006) | (603) |
Total long-term debt | 8,052 | 7,601 |
Short term obligations classified as long-term debt | 150 | 150 |
Duke Energy Progress | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 150 | 150 |
Duke Energy Progress | Purchase Accounting Adjustments | ||
Debt Instrument [Line Items] | ||
Finance leases | 44 | |
Finance leases | 63 | |
Duke Energy Florida | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 350 | 350 |
Secured Debt | 1,387 | 1,403 |
First mortgage bonds | 6,225 | 5,526 |
Finance leases | 98 | |
Finance leases | 114 | |
Money pool/intercompany borrowings | 108 | |
Unamortized debt discount and premium, net | (11) | (11) |
Unamortized debt issuance costs | (62) | (61) |
Total debt | 7,987 | 7,429 |
Short-term money pool/intercompany borrowings | (108) | |
Current maturities of long-term debt | (571) | (270) |
Total long-term debt | 7,416 | 7,051 |
Duke Energy Florida | Purchase Accounting Adjustments | ||
Debt Instrument [Line Items] | ||
Finance leases | 419 | |
Finance leases | 531 | |
Duke Energy Ohio | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 1,110 | 1,000 |
First mortgage bonds | 1,449 | 1,099 |
Finance leases | 2 | |
Tax exempt bonds | 77 | 77 |
Money pool/intercompany borrowings | 337 | 299 |
Unamortized debt discount and premium, net | (30) | (31) |
Unamortized debt issuance costs | (12) | (7) |
Total debt | 2,931 | 2,439 |
Short-term money pool/intercompany borrowings | (312) | (274) |
Current maturities of long-term debt | (551) | |
Total long-term debt | 2,619 | 1,614 |
Short term obligations classified as long-term debt | 52 | 52 |
Duke Energy Ohio | Tax Exempt Bonds | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 27 | 27 |
Duke Energy Ohio | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 25 | 25 |
Duke Energy Indiana | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 405 | 408 |
First mortgage bonds | 3,169 | 2,670 |
Finance leases | 10 | |
Finance leases | 10 | |
Tax exempt bonds | 362 | 572 |
Money pool/intercompany borrowings | 180 | 317 |
Unamortized debt discount and premium, net | (19) | (8) |
Unamortized debt issuance costs | (20) | (20) |
Total debt | 4,087 | 3,949 |
Short-term money pool/intercompany borrowings | (30) | (167) |
Current maturities of long-term debt | (503) | (63) |
Total long-term debt | 3,554 | 3,719 |
Short term obligations classified as long-term debt | 435 | 435 |
Duke Energy Indiana | Tax Exempt Bonds | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 285 | 285 |
Duke Energy Indiana | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 150 | 150 |
Piedmont | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 2,399 | 2,150 |
Money pool/intercompany borrowings | 476 | 198 |
Unamortized debt discount and premium, net | (2) | (1) |
Unamortized debt issuance costs | (13) | (11) |
Total debt | 2,860 | 2,336 |
Short-term money pool/intercompany borrowings | (476) | (198) |
Current maturities of long-term debt | (350) | |
Total long-term debt | 2,384 | 1,788 |
Progress Energy | Purchase Accounting Adjustments | ||
Debt Instrument [Line Items] | ||
Unamortized debt discount and premium, net | 1,275 | 1,380 |
Piedmont | Purchase Accounting Adjustments | ||
Debt Instrument [Line Items] | ||
Unamortized debt discount and premium, net | $ 137 | $ 156 |
Debt and Credit Facilities (Ann
Debt and Credit Facilities (Annual Maturities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | $ 3,141 | $ 3,406 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 3,141 | |
2021 | 5,053 | |
2022 | 4,334 | |
2023 | 3,112 | |
2024 | 1,965 | |
Thereafter | 39,542 | |
Total long-term debt, including current maturities | 57,147 | |
Purchase accounting adjustments | (1,500) | (1,600) |
Other | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 361 | |
Purchase Accounting Adjustments | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Purchase accounting adjustments | $ 1,448 | |
Parent Company | Debt Maturing June 2020, 2.100% Coupon | Unsecured Debt | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 2.10% | |
Current maturities of long-term debt | $ 330 | |
Duke Energy Carolinas | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 458 | 6 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 458 | |
2021 | 504 | |
2022 | 830 | |
2023 | 1,006 | |
2024 | 306 | |
Thereafter | 8,875 | |
Total long-term debt, including current maturities | $ 11,979 | |
Duke Energy Carolinas | Bonds Maturing June 2020, 4.300% Coupon | First Mortgage | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 4.30% | |
Current maturities of long-term debt | $ 450 | |
Progress Energy | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 1,577 | 1,672 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 1,578 | |
2021 | 2,257 | |
2022 | 1,048 | |
2023 | 398 | |
2024 | 227 | |
Thereafter | 14,267 | |
Total long-term debt, including current maturities | 19,775 | |
Duke Energy Progress | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 1,006 | 603 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 1,006 | |
2021 | 932 | |
2022 | 508 | |
2023 | 319 | |
2024 | 160 | |
Thereafter | 6,190 | |
Total long-term debt, including current maturities | $ 9,115 | |
Duke Energy Progress | Bonds Maturing September 2020, 2.282% Coupon | First Mortgage | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 2.065% | |
Current maturities of long-term debt | $ 300 | |
Duke Energy Progress | Parent Company | Debt Maturing December 2020, 2.510% Coupon | Unsecured Debt | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 2.51% | |
Current maturities of long-term debt | $ 700 | |
Duke Energy Florida | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 571 | 270 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 572 | |
2021 | 825 | |
2022 | 90 | |
2023 | 79 | |
2024 | 67 | |
Thereafter | 6,427 | |
Total long-term debt, including current maturities | $ 8,060 | |
Duke Energy Florida | Bonds Maturing January 2019, 5.300% Coupon | First Mortgage | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 1.85% | |
Current maturities of long-term debt | $ 250 | |
Duke Energy Florida | Bonds Maturing April 2019, 5.450% Coupon | First Mortgage | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 4.55% | |
Current maturities of long-term debt | $ 250 | |
Duke Energy Ohio | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 551 | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 0 | |
2021 | 50 | |
2022 | 0 | |
2023 | 325 | |
2024 | 25 | |
Thereafter | 2,261 | |
Total long-term debt, including current maturities | 2,661 | |
Duke Energy Indiana | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 503 | 63 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 503 | |
2021 | 70 | |
2022 | 94 | |
2023 | 3 | |
2024 | 154 | |
Thereafter | 3,272 | |
Total long-term debt, including current maturities | $ 4,096 | |
Duke Energy Indiana | Bonds Maturing July 2020, 3.750% Coupon | First Mortgage | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Interest rate | 3.75% | |
Current maturities of long-term debt | $ 500 | |
Piedmont | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | $ 350 | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2020 | 0 | |
2021 | 160 | |
2022 | 0 | |
2023 | 45 | |
2024 | 40 | |
Thereafter | 2,155 | |
Total long-term debt, including current maturities | $ 2,400 |
Debt and Credit Facilities (Sho
Debt and Credit Facilities (Short Term Obligations Classified As Long Term) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | $ 937 | $ 937 |
Tax Exempt Bonds | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 312 | 312 |
Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 625 | 625 |
Duke Energy Carolinas | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 300 | 300 |
Duke Energy Carolinas | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 300 | 300 |
Duke Energy Progress | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 150 | 150 |
Duke Energy Progress | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 150 | 150 |
Duke Energy Ohio | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 52 | 52 |
Duke Energy Ohio | Tax Exempt Bonds | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 27 | 27 |
Duke Energy Ohio | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 25 | 25 |
Duke Energy Indiana | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 435 | 435 |
Duke Energy Indiana | Tax Exempt Bonds | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 285 | 285 |
Duke Energy Indiana | Commercial Paper | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | $ 150 | $ 150 |
Debt and Credit Facilities (S_2
Debt and Credit Facilities (Summary of Debt Issuances) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||
Debt issuances | $ 6,210,000,000 | $ 5,050,000,000 | |
Redemption of long-term debt | $ 3,476,000,000 | $ 2,906,000,000 | $ 2,316,000,000 |
March 2019 Debt Issuance Due March 2022 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 2.538% | ||
Debt issuances | $ 300,000,000 | ||
March 2019 Debt Issuance 3.227% Coupon Due 2022 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.227% | ||
Debt issuances | $ 300,000,000 | ||
May 2019 Debt Issuance 3.500% Coupon Due 2029 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.50% | ||
Debt issuances | $ 600,000,000 | ||
June 2019 Debt Issuance 3.400% Coupon Due 2029 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.40% | ||
Debt issuances | $ 600,000,000 | ||
June 2019 Debt Issuance 4.200% Coupon Due 2049 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 4.20% | ||
Debt issuances | $ 600,000,000 | ||
July 2019 Debt Issuance 4.320% Coupon Due 2049 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 4.32% | ||
Debt issuances | $ 40,000,000 | ||
September 2019 Debt Issuance 3.230% Coupon Due 2025 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.23% | ||
Debt issuances | $ 95,000,000 | ||
September 2019 Debt Issuance 3.560% Coupon Due 2029 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.56% | ||
Debt issuances | $ 75,000,000 | ||
November 2019 Debt Issuance 2.167% Coupon Due 2021 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Interest rate | 2.167% | ||
Debt issuances | $ 200,000,000 | ||
January 2019 Debt Issuance 3.650% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.65% | ||
Debt issuances | $ 400,000,000 | ||
January 2019 Debt Issuance 4.300% Coupon Due 2049 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Interest rate | 4.30% | ||
Debt issuances | $ 400,000,000 | ||
March 2019 Debt Issuance 3.450% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.45% | ||
Debt issuances | $ 600,000,000 | ||
August 2019 Debt Issuance 2.450% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Interest rate | 2.45% | ||
Debt issuances | $ 450,000,000 | ||
August 2019 Debt Issuance 3.200% Coupon Due 2049 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.20% | ||
Debt issuances | $ 350,000,000 | ||
September 2019 Debt Issuance 3.250% Coupon Due 2049 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.25% | ||
Debt issuances | $ 500,000,000 | ||
November 2019 Debt Issuance 2.500% Coupon Due 2029 | |||
Debt Instrument [Line Items] | |||
Interest rate | 2.50% | ||
November 2019 Debt Issuance 2.500% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 700,000,000 | ||
March 2018 Debt Issuance 3.950% Coupon Due 2025 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.95% | ||
March 2018 Debt Issuance 3.950% Coupon Due 2025 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 250,000,000 | ||
May 2018 Debt Issuance 3.114% Coupon Due 2021 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.114% | ||
May 2018 Debt Issuance 3.114% Coupon Due 2021 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 500,000,000 | ||
September 2018 Debt Issuance 5.625% Coupon Due 2078 | |||
Debt Instrument [Line Items] | |||
Interest rate | 5.625% | ||
September 2018 Debt Issuance 5.625% Coupon Due 2078 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 500,000,000 | ||
March 2018 Debt Issuance 3.050% Coupon Due 2023 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.05% | ||
March 2018 Debt Issuance 3.050% Coupon Due 2023 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 500,000,000 | ||
March 2018 Debt Issuance 3.950% Coupon Due 2048 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.95% | ||
March 2018 Debt Issuance 3.950% Coupon Due 2048 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 500,000,000 | ||
June 2018 Debt issuance 3.80% coupon Due 2028 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.80% | ||
June 2018 Debt issuance 3.80% coupon Due 2028 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 600,000,000 | ||
June 2018 Debt Issuance 4.20 Coupon Due 2048 | |||
Debt Instrument [Line Items] | |||
Interest rate | 4.20% | ||
June 2018 Debt Issuance 4.20 Coupon Due 2048 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 400,000,000 | ||
August 2018 Debt Issuance 3.375% Coupon Due 2023 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.375% | ||
August 2018 Debt Issuance 3.375% Coupon Due 2023 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 300,000,000 | ||
August 2018 Debt Issuance 3.700% Coupon Due 2028 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.70% | ||
August 2018 Debt Issuance 3.700% Coupon Due 2028 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 500,000,000 | ||
November 2018 Debt Issuance 3.350% Coupon Due 2022 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.35% | ||
November 2018 Debt Issuance 3.350% Coupon Due 2022 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 350,000,000 | ||
November 2018 Debt Issuance 3.950% Coupon Due 2028 | |||
Debt Instrument [Line Items] | |||
Interest rate | 3.95% | ||
November 2018 Debt Issuance 3.950% Coupon Due 2028 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | $ 650,000,000 | ||
Parent Company | |||
Debt Instrument [Line Items] | |||
Debt issuances | 1,800,000,000 | 1,250,000,000 | |
Parent Company | March 2019 Debt Issuance Due March 2022 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 300,000,000 | ||
Parent Company | March 2019 Debt Issuance 3.227% Coupon Due 2022 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 300,000,000 | ||
Parent Company | June 2019 Debt Issuance 3.400% Coupon Due 2029 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 600,000,000 | ||
Parent Company | June 2019 Debt Issuance 4.200% Coupon Due 2049 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 600,000,000 | ||
Parent Company | March 2018 Debt Issuance 3.950% Coupon Due 2025 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 250,000,000 | ||
Parent Company | May 2018 Debt Issuance 3.114% Coupon Due 2021 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Parent Company | September 2018 Debt Issuance 5.625% Coupon Due 2078 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Duke Energy Carolinas | |||
Debt Instrument [Line Items] | |||
Debt issuances | 800,000,000 | 2,000,000,000 | |
Redemption of long-term debt | 6,000,000 | 1,205,000,000 | 116,000,000 |
Duke Energy Carolinas | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 350,000,000 | ||
Duke Energy Carolinas | August 2019 Debt Issuance 2.450% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 450,000,000 | ||
Duke Energy Carolinas | August 2019 Debt Issuance 3.200% Coupon Due 2049 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 350,000,000 | ||
Duke Energy Carolinas | March 2018 Debt Issuance 3.050% Coupon Due 2023 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Duke Energy Carolinas | March 2018 Debt Issuance 3.950% Coupon Due 2048 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Duke Energy Carolinas | November 2018 Debt Issuance 3.950% Coupon Due 2028 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 650,000,000 | ||
Duke Energy Carolinas | First Mortgage Bonds Maturing April 2018, 5.100% Coupon | |||
Debt Instrument [Line Items] | |||
Repayments of debt | 300,000,000 | ||
Duke Energy Progress | |||
Debt Instrument [Line Items] | |||
Debt issuances | 600,000,000 | 800,000,000 | |
Redemption of long-term debt | 605,000,000 | 3,000,000 | 470,000,000 |
Duke Energy Progress | March 2019 Debt Issuance 3.450% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 600,000,000 | ||
Duke Energy Progress | August 2018 Debt Issuance 3.375% Coupon Due 2023 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 300,000,000 | ||
Duke Energy Progress | August 2018 Debt Issuance 3.700% Coupon Due 2028 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Duke Energy Florida | |||
Debt Instrument [Line Items] | |||
Debt issuances | 900,000,000 | 1,000,000,000 | |
Redemption of long-term debt | 262,000,000 | 769,000,000 | 342,000,000 |
Duke Energy Florida | November 2019 Debt Issuance 2.167% Coupon Due 2021 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 200,000,000 | ||
Duke Energy Florida | March 2019 Debt Issuance 3.450% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 0 | ||
Duke Energy Florida | November 2019 Debt Issuance 2.500% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 700,000,000 | ||
Duke Energy Florida | June 2018 Debt issuance 3.80% coupon Due 2028 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 600,000,000 | ||
Duke Energy Florida | June 2018 Debt Issuance 4.20 Coupon Due 2048 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 400,000,000 | ||
Duke Energy Ohio | |||
Debt Instrument [Line Items] | |||
Debt issuances | 1,010,000,000 | ||
Redemption of long-term debt | 551,000,000 | 3,000,000 | 2,000,000 |
Duke Energy Ohio | July 2019 Debt Issuance 4.320% Coupon Due 2049 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 40,000,000 | ||
Duke Energy Ohio | September 2019 Debt Issuance 3.230% Coupon Due 2025 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 95,000,000 | ||
Duke Energy Ohio | September 2019 Debt Issuance 3.560% Coupon Due 2029 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 75,000,000 | ||
Duke Energy Ohio | January 2019 Debt Issuance 3.650% Coupon Due 2029 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 400,000,000 | ||
Duke Energy Ohio | January 2019 Debt Issuance 4.300% Coupon Due 2049 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 400,000,000 | ||
Duke Energy Ohio | April 2019 First Mortgage Bonds | |||
Debt Instrument [Line Items] | |||
Redemption of long-term debt | 450,000,000 | ||
Duke Energy Ohio | Debentures Due October 2019 | |||
Debt Instrument [Line Items] | |||
Redemption of long-term debt | 100,000,000 | ||
Duke Energy Indiana | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Redemption of long-term debt | 213,000,000 | $ 3,000,000 | 5,000,000 |
Duke Energy Indiana | September 2019 Debt Issuance 3.250% Coupon Due 2049 | First Mortgage | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Duke Energy Indiana | Pollution Control Bonds | |||
Debt Instrument [Line Items] | |||
Redemption of long-term debt | 150,000,000 | ||
Piedmont | |||
Debt Instrument [Line Items] | |||
Debt issuances | 600,000,000 | ||
Redemption of long-term debt | 350,000,000 | $ 35,000,000 | |
Piedmont | May 2019 Debt Issuance 3.500% Coupon Due 2029 | Unsecured Debt | |||
Debt Instrument [Line Items] | |||
Debt issuances | 600,000,000 | ||
Piedmont | Senior Unsecured Term Loan Facility Due September 2019 | |||
Debt Instrument [Line Items] | |||
Redemption of long-term debt | $ 350,000,000 |
Debt and Credit Facilities (Sch
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Line of Credit Facility [Line Items] | ||
Tax-exempt bonds | $ (730,000,000) | $ (941,000,000) |
Duke Energy Carolinas | ||
Line of Credit Facility [Line Items] | ||
Tax-exempt bonds | (243,000,000) | (243,000,000) |
Duke Energy Progress | ||
Line of Credit Facility [Line Items] | ||
Tax-exempt bonds | (48,000,000) | (48,000,000) |
Duke Energy Ohio | ||
Line of Credit Facility [Line Items] | ||
Tax-exempt bonds | (77,000,000) | (77,000,000) |
Duke Energy Indiana | ||
Line of Credit Facility [Line Items] | ||
Tax-exempt bonds | (362,000,000) | $ (572,000,000) |
Revolving Credit Facility | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 8,000,000,000 | |
Commercial Paper | (2,537,000,000) | |
Outstanding letters of credit | (50,000,000) | |
Tax-exempt bonds | (81,000,000) | |
Coal ash set-aside | (500,000,000) | |
Available capacity | 4,832,000,000 | |
Revolving Credit Facility | Parent Company | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 2,650,000,000 | |
Commercial Paper | (1,119,000,000) | |
Outstanding letters of credit | (42,000,000) | |
Available capacity | 1,489,000,000 | |
Revolving Credit Facility | Duke Energy Carolinas | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 1,500,000,000 | |
Commercial Paper | (325,000,000) | |
Outstanding letters of credit | (4,000,000) | |
Coal ash set-aside | (250,000,000) | |
Available capacity | 921,000,000 | |
Revolving Credit Facility | Duke Energy Progress | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 1,250,000,000 | |
Commercial Paper | (207,000,000) | |
Outstanding letters of credit | (2,000,000) | |
Coal ash set-aside | (250,000,000) | |
Available capacity | 791,000,000 | |
Revolving Credit Facility | Duke Energy Florida | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 800,000,000 | |
Available capacity | 800,000,000 | |
Revolving Credit Facility | Duke Energy Ohio | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 600,000,000 | |
Commercial Paper | (296,000,000) | |
Available capacity | 304,000,000 | |
Revolving Credit Facility | Duke Energy Indiana | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 600,000,000 | |
Commercial Paper | (176,000,000) | |
Tax-exempt bonds | (81,000,000) | |
Available capacity | 343,000,000 | |
Revolving Credit Facility | Piedmont | ||
Line of Credit Facility [Line Items] | ||
Facility Size | 600,000,000 | |
Commercial Paper | (414,000,000) | |
Outstanding letters of credit | (2,000,000) | |
Available capacity | 184,000,000 | |
Proceeds Loaned To Subsidiary Registrants | Revolving Credit Facility | Parent Company | ||
Line of Credit Facility [Line Items] | ||
Commercial Paper | $ (625,000,000) |
Debt and Credit Facilities (Nar
Debt and Credit Facilities (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||
Jun. 30, 2020USD ($) | May 31, 2019USD ($) | Dec. 31, 2019USD ($) | Jan. 31, 2020USD ($) | Dec. 31, 2018USD ($) | |
Debt Instrument [Line Items] | |||||
Debt issuances | $ 6,210,000,000 | $ 5,050,000,000 | |||
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 | 1,049,000,000 | 1,010,000,000 | |||
Other loans outstanding against cash surrender value of life insurance policies | $ 777,000,000 | 741,000,000 | |||
Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.65 | ||||
June 2017 Three Year Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | $ 1,000,000,000 | ||||
Term of debt instrument | 3 years | ||||
Long-term line of credit | $ 500,000,000 | ||||
Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | 8,000,000,000 | ||||
Duke Energy Carolinas | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 800,000,000 | 2,000,000,000 | |||
Duke Energy Carolinas | Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.65 | ||||
Duke Energy Carolinas | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | $ 1,500,000,000 | ||||
Progress Energy | Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.65 | ||||
Duke Energy Progress | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 600,000,000 | 800,000,000 | |||
Other loans outstanding against cash surrender value of life insurance policies | $ 36,000,000 | 37,000,000 | |||
Duke Energy Progress | Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.65 | ||||
Duke Energy Progress | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | $ 1,250,000,000 | ||||
Duke Energy Progress | Revolving Credit Facility | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Facility Size | 700,000,000 | ||||
Term of debt instrument | 2 years | ||||
Long-term line of credit | $ 700,000,000 | ||||
Piedmont | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 600,000,000 | ||||
Proceeds from issuance of debt | $ 600,000,000 | ||||
Piedmont | Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.70 | ||||
Piedmont | Term Loan | |||||
Debt Instrument [Line Items] | |||||
Repayments of debt | $ 350,000,000 | ||||
Piedmont | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | $ 600,000,000 | ||||
Duke Energy Florida | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 900,000,000 | $ 1,000,000,000 | |||
Duke Energy Florida | Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.65 | ||||
Duke Energy Florida | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | $ 800,000,000 | ||||
Duke Energy Ohio | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 1,010,000,000 | ||||
Duke Energy Ohio | Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.65 | ||||
Duke Energy Ohio | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | $ 600,000,000 | ||||
Duke Energy Indiana | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 500,000,000 | ||||
Duke Energy Indiana | Maximum | |||||
Debt Instrument [Line Items] | |||||
Debt to total capitalization percentage, for each borrower | 0.65 | ||||
Duke Energy Indiana | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Facility Size | $ 600,000,000 | ||||
North Carolina Ash Basins | USDOJ | Duke Energy Carolinas | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Minimum master credit facility balance required | 250,000,000 | ||||
North Carolina Ash Basins | USDOJ | Duke Energy Progress | Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Minimum master credit facility balance required | $ 250,000,000 | ||||
Subsequent Event | January 2019 Debt Issuance Due August 2049 | First Mortgage | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 900,000,000 | ||||
Subsequent Event | January 2020 Debt Issuance 2.45% Due August 2049 | First Mortgage | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 500,000,000 | ||||
Interest rate | 2.45% | ||||
Subsequent Event | January 2020 Debt Issuance 3.20% Due August 2049 | First Mortgage | |||||
Debt Instrument [Line Items] | |||||
Debt issuances | $ 400,000,000 | ||||
Interest rate | 3.20% | ||||
Forecast | Bonds Maturing June 2020, 4.300% Coupon | |||||
Debt Instrument [Line Items] | |||||
Interest rate | 4.30% | ||||
Repayments of debt | $ 450,000,000 |
Guarantees and Indemnificatio_2
Guarantees and Indemnifications (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Oct. 31, 2017 | |
Guarantor Obligations [Line Items] | |||
Unused letters of credit | $ 81 | ||
Face value of guarantees | 23 | $ 23 | |
Letters of credit | |||
Guarantor Obligations [Line Items] | |||
Maximum potential amount of future payments associated with guarantees | 634 | ||
ACP | |||
Guarantor Obligations [Line Items] | |||
Maximum borrowing capacity | $ 3,400 | ||
Performance guarantee | |||
Guarantor Obligations [Line Items] | |||
Maximum potential of future amounts associated with guarantees with expiration dates | 114 | ||
Performance guarantee | Customers and other third parties | |||
Guarantor Obligations [Line Items] | |||
Maximum potential amount of future payments associated with guarantees | 128 | ||
Performance guarantee | Spectra Capital | |||
Guarantor Obligations [Line Items] | |||
Maximum potential amount of future payments associated with guarantees | 65 | ||
Financial guarantee | ACP | |||
Guarantor Obligations [Line Items] | |||
Maximum potential amount of future payments associated with guarantees | $ 827 | ||
Maximum exposure percentage | 47.00% |
Joint Ownership of Generating_3
Joint Ownership of Generating and Transmission Facilities (Schedule Joint Ownership of Generating and Transmission Facilities) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Duke Energy Carolinas | Catawba (units 1 and 2) | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership interest | 19.25% |
Property, plant, and equipment | $ 1,011 |
Accumulated depreciation | 510 |
Construction work in progress | $ 21 |
Duke Energy Carolinas | W.S. Lee CC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership interest | 87.27% |
Property, plant, and equipment | $ 609 |
Accumulated depreciation | 32 |
Construction work in progress | $ 1 |
Duke Energy Indiana | Gibson (unit 5) | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership interest | 50.05% |
Property, plant, and equipment | $ 410 |
Accumulated depreciation | 183 |
Construction work in progress | $ 3 |
Duke Energy Indiana | Vermillion | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership interest | 62.50% |
Property, plant, and equipment | $ 172 |
Accumulated depreciation | 119 |
Duke Energy Indiana | Transmission and local facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Property, plant, and equipment | 5,421 |
Accumulated depreciation | 1,436 |
Construction work in progress | $ 172 |
Asset Retirement Obligations (R
Asset Retirement Obligations (Recorded on the Balance Sheet) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | $ 13,318 | $ 10,467 | $ 10,175 |
Less: current portion | 881 | 919 | |
Total noncurrent asset retirement obligation | 12,437 | 9,548 | |
Decommissioning of nuclear power facilities | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 6,633 | ||
Closure of ash impoundments | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 6,333 | ||
Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 352 | ||
Duke Energy Carolinas | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 5,734 | 3,949 | 3,610 |
Less: current portion | 206 | 290 | |
Total noncurrent asset retirement obligation | 5,528 | 3,659 | |
Duke Energy Carolinas | Decommissioning of nuclear power facilities | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 2,551 | ||
Duke Energy Carolinas | Closure of ash impoundments | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 3,118 | ||
Duke Energy Carolinas | Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 65 | ||
Progress Energy | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 6,471 | 5,411 | 5,414 |
Less: current portion | 485 | 514 | |
Total noncurrent asset retirement obligation | 5,986 | 4,897 | |
Progress Energy | Decommissioning of nuclear power facilities | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 4,028 | ||
Progress Energy | Closure of ash impoundments | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 2,368 | ||
Progress Energy | Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 75 | ||
Duke Energy Progress | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 5,893 | 4,820 | 4,673 |
Less: current portion | 485 | 509 | |
Total noncurrent asset retirement obligation | 5,408 | 4,311 | |
Duke Energy Progress | Decommissioning of nuclear power facilities | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 3,499 | ||
Duke Energy Progress | Closure of ash impoundments | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 2,352 | ||
Duke Energy Progress | Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 42 | ||
Duke Energy Florida | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 578 | 591 | 742 |
Less: current portion | 5 | ||
Total noncurrent asset retirement obligation | 578 | 586 | |
Duke Energy Florida | Decommissioning of nuclear power facilities | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 529 | ||
Duke Energy Florida | Closure of ash impoundments | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 16 | ||
Duke Energy Florida | Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 33 | ||
Duke Energy Ohio | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 80 | 93 | 84 |
Less: current portion | 1 | 6 | |
Total noncurrent asset retirement obligation | 79 | 87 | |
Duke Energy Ohio | Closure of ash impoundments | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 41 | ||
Duke Energy Ohio | Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 39 | ||
Duke Energy Indiana | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 832 | 722 | 781 |
Less: current portion | 189 | 109 | |
Total noncurrent asset retirement obligation | 643 | 613 | |
Duke Energy Indiana | Closure of ash impoundments | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 805 | ||
Duke Energy Indiana | Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 27 | ||
Piedmont | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | 17 | 19 | $ 15 |
Total noncurrent asset retirement obligation | 17 | $ 19 | |
Piedmont | Other | |||
Asset Retirement Obligation [Line Items] | |||
Total asset retirement obligation | $ 17 |
Asset Retirement Obligations (N
Asset Retirement Obligations (NDTF Information) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
NDTF Information [Abstract] | ||
Annual funding requirement | $ 24 | |
Decommissioning costs | 9,152 | |
Legally restricted NDTF investments, fair value | 6,766 | $ 5,579 |
Duke Energy Carolinas | ||
NDTF Information [Abstract] | ||
Decommissioning costs | 4,365 | |
Legally restricted NDTF investments, fair value | 3,837 | 3,133 |
Duke Energy Progress | ||
NDTF Information [Abstract] | ||
Annual funding requirement | 24 | |
Decommissioning costs | 4,181 | |
Legally restricted NDTF investments, fair value | 2,929 | $ 2,446 |
Duke Energy Florida | ||
NDTF Information [Abstract] | ||
Decommissioning costs | $ 606 |
Asset Retirement Obligations _2
Asset Retirement Obligations (Rollforward) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | $ 10,467 | $ 10,175 |
Accretion expense | 508 | 427 |
Liabilities settled | (895) | (638) |
Liabilities incurred in the current year | 25 | 39 |
Revisions in estimates of cash flows | 3,213 | 464 |
Ending Balance | 13,318 | 10,467 |
Duke Energy Carolinas | ||
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | 3,949 | 3,610 |
Accretion expense | 235 | 179 |
Liabilities settled | (329) | (281) |
Liabilities incurred in the current year | 18 | 8 |
Revisions in estimates of cash flows | 1,861 | 433 |
Ending Balance | 5,734 | 3,949 |
Progress Energy | ||
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | 5,411 | 5,414 |
Accretion expense | 252 | 225 |
Liabilities settled | (499) | (272) |
Liabilities incurred in the current year | 7 | 5 |
Revisions in estimates of cash flows | 1,300 | 39 |
Ending Balance | 6,471 | 5,411 |
Duke Energy Progress | ||
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | 4,820 | 4,673 |
Accretion expense | 227 | 196 |
Liabilities settled | (460) | (227) |
Revisions in estimates of cash flows | 1,306 | 178 |
Ending Balance | 5,893 | 4,820 |
Duke Energy Florida | ||
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | 591 | 742 |
Accretion expense | 25 | 29 |
Liabilities settled | (39) | (45) |
Liabilities incurred in the current year | 7 | 5 |
Revisions in estimates of cash flows | (6) | (140) |
Ending Balance | 578 | 591 |
Duke Energy Ohio | ||
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | 93 | 84 |
Accretion expense | 3 | 4 |
Liabilities settled | (12) | (5) |
Revisions in estimates of cash flows | (4) | 10 |
Ending Balance | 80 | 93 |
Duke Energy Indiana | ||
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | 722 | 781 |
Accretion expense | 28 | 29 |
Liabilities settled | (54) | (79) |
Liabilities incurred in the current year | 25 | |
Revisions in estimates of cash flows | 136 | (34) |
Ending Balance | 832 | 722 |
Piedmont | ||
Asset Retirement Obligation [Line Items] | ||
Beginning Balance | 19 | 15 |
Accretion expense | 1 | 1 |
Revisions in estimates of cash flows | (3) | 3 |
Ending Balance | $ 17 | $ 19 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Schedule Of Property, Plant and Equipment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | $ 2,091 | $ 2,072 | |
Other buildings and improvements | 4,916 | 4,675 | |
Equipment | 2,313 | 2,141 | |
Construction in process | 6,102 | 5,726 | |
Total property, plant and equipment | 147,654 | 134,458 | |
Generation facilities to be retired, net | 246 | 362 | |
Total net property, plant and equipment | 102,127 | 91,694 | |
Finance lease asset | 952 | ||
Finance lease accumulated amortization | (6) | ||
Capitalized leases | 1,237 | ||
Accumulated amortization on capitalized leases | 61 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | $ 159 | $ 161 | $ 128 |
Minimum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other, estimated useful life, in years | 2 years | 3 years | |
Equipment, estimated useful life, years | 3 years | 3 years | |
Maximum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other, estimated useful life, in years | 40 years | 40 years | |
Equipment, estimated useful life, years | 25 years | 55 years | |
Nuclear fuel | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Nuclear fuel | $ 3,253 | $ 3,460 | |
Accumulated depreciation and amortization | (1,807) | (1,947) | |
VIE | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total property, plant and equipment | 5,747 | 4,007 | |
Accumulated depreciation and amortization | (1,041) | (698) | |
Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (43,419) | (41,079) | |
Regulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 111,739 | $ 100,706 | |
Regulated | Electric generation, distribution and transmission | Minimum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 15 years | 15 years | |
Regulated | Electric generation, distribution and transmission | Maximum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 100 years | 100 years | |
Regulated | Natural gas transmission and distribution | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 9,839 | $ 8,808 | |
Regulated | Natural gas transmission and distribution | Minimum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 4 years | 12 years | |
Regulated | Natural gas transmission and distribution | Maximum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 73 years | 80 years | |
Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | $ 1,810 | $ 1,966 | |
Regulated | Other buildings and improvements | Minimum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other, estimated useful life, in years | 23 years | 24 years | |
Regulated | Other buildings and improvements | Maximum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other, estimated useful life, in years | 90 years | 90 years | |
Nonregulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | $ (2,354) | $ (2,047) | |
Finance lease accumulated amortization | (20) | ||
Nonregulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $ 5,103 | $ 4,410 | |
Nonregulated | Electric generation, distribution and transmission | Minimum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 5 years | 5 years | |
Nonregulated | Electric generation, distribution and transmission | Maximum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 30 years | 30 years | |
Nonregulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | $ 488 | $ 494 | |
Nonregulated | Other buildings and improvements | Minimum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other, estimated useful life, in years | 25 years | 25 years | |
Nonregulated | Other buildings and improvements | Maximum | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other, estimated useful life, in years | 35 years | 35 years | |
Duke Energy Carolinas | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | $ 520 | $ 472 | |
Other buildings and improvements | 1,139 | 1,077 | |
Equipment | 546 | 467 | |
Construction in process | 1,389 | 1,678 | |
Total property, plant and equipment | 48,922 | 44,741 | |
Total net property, plant and equipment | 32,397 | 29,245 | |
Finance lease asset | 211 | ||
Finance lease accumulated amortization | (13) | ||
Capitalized leases | 135 | ||
Accumulated amortization on capitalized leases | 12 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 30 | 35 | 45 |
Duke Energy Carolinas | Nuclear fuel | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Nuclear fuel | 1,891 | 1,898 | |
Accumulated depreciation and amortization | (1,082) | (1,087) | |
Duke Energy Carolinas | Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (16,525) | (15,496) | |
Duke Energy Carolinas | Regulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 42,723 | 38,468 | |
Duke Energy Carolinas | Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | 714 | 681 | |
Progress Energy | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 884 | 868 | |
Other buildings and improvements | 1,467 | 1,354 | |
Equipment | 665 | 565 | |
Construction in process | 2,149 | 2,515 | |
Total property, plant and equipment | 55,070 | 50,260 | |
Generation facilities to be retired, net | 246 | 362 | |
Total net property, plant and equipment | 38,157 | 34,224 | |
Finance lease asset | 443 | ||
Finance lease accumulated amortization | (143) | ||
Capitalized leases | 257 | ||
Accumulated amortization on capitalized leases | 131 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 31 | 51 | 45 |
Progress Energy | Nuclear fuel | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Nuclear fuel | 1,362 | 1,562 | |
Accumulated depreciation and amortization | (725) | (860) | |
Progress Energy | Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (17,159) | (16,398) | |
Progress Energy | Regulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 48,142 | 42,760 | |
Progress Energy | Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | 401 | 636 | |
Duke Energy Progress | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 449 | 445 | |
Other buildings and improvements | 1,046 | 952 | |
Equipment | 452 | 399 | |
Construction in process | 1,114 | 1,659 | |
Total property, plant and equipment | 34,603 | 31,459 | |
Generation facilities to be retired, net | 246 | 362 | |
Total net property, plant and equipment | 22,934 | 20,398 | |
Finance lease asset | 308 | ||
Finance lease accumulated amortization | (17) | ||
Capitalized leases | 137 | ||
Accumulated amortization on capitalized leases | 14 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 28 | 26 | 21 |
Duke Energy Progress | Nuclear fuel | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Nuclear fuel | 1,362 | 1,562 | |
Accumulated depreciation and amortization | (725) | (860) | |
Duke Energy Progress | Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (11,915) | (11,423) | |
Duke Energy Progress | Regulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 30,018 | 26,147 | |
Duke Energy Progress | Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | 162 | 295 | |
Duke Energy Florida | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 435 | 423 | |
Other buildings and improvements | 411 | 393 | |
Equipment | 213 | 166 | |
Construction in process | 1,035 | 856 | |
Total property, plant and equipment | 20,457 | 18,792 | |
Total net property, plant and equipment | 15,221 | 13,824 | |
Finance lease asset | 135 | ||
Finance lease accumulated amortization | (126) | ||
Capitalized leases | 120 | ||
Accumulated amortization on capitalized leases | 117 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 3 | 25 | 24 |
Duke Energy Florida | Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (5,236) | (4,968) | |
Duke Energy Florida | Regulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 18,124 | 16,613 | |
Duke Energy Florida | Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | 239 | 341 | |
Duke Energy Ohio | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 150 | 136 | |
Other buildings and improvements | 269 | 257 | |
Equipment | 319 | 384 | |
Construction in process | 504 | 412 | |
Total property, plant and equipment | 10,241 | 9,360 | |
Total net property, plant and equipment | 7,398 | 6,643 | |
Capitalized leases | 73 | ||
Accumulated amortization on capitalized leases | 20 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 22 | 17 | 10 |
Duke Energy Ohio | Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (2,843) | (2,717) | |
Duke Energy Ohio | Regulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 5,838 | 5,182 | |
Duke Energy Ohio | Regulated | Natural gas transmission and distribution | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 2,892 | 2,719 | |
Duke Energy Ohio | Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | 269 | 270 | |
Duke Energy Indiana | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 117 | 116 | |
Other buildings and improvements | 292 | 279 | |
Equipment | 205 | 178 | |
Construction in process | 381 | 325 | |
Total property, plant and equipment | 16,305 | 15,443 | |
Total net property, plant and equipment | 11,072 | 10,529 | |
Finance lease asset | 10 | ||
Finance lease accumulated amortization | (3) | ||
Capitalized leases | 35 | ||
Accumulated amortization on capitalized leases | 10 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 26 | 27 | 9 |
Duke Energy Indiana | Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (5,233) | (4,914) | |
Duke Energy Indiana | Regulated | Electric generation, distribution and transmission | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 15,032 | 14,292 | |
Duke Energy Indiana | Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | 278 | 253 | |
Piedmont | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 388 | 448 | |
Other buildings and improvements | 304 | 300 | |
Equipment | 128 | 141 | |
Construction in process | 531 | 382 | |
Total property, plant and equipment | 8,446 | 7,486 | |
Total net property, plant and equipment | 6,765 | 5,911 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 26 | 17 | $ 12 |
Piedmont | Regulated | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Accumulated depreciation and amortization | (1,681) | (1,575) | |
Piedmont | Regulated | Natural gas transmission and distribution | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 6,947 | 6,089 | |
Piedmont | Regulated | Other buildings and improvements | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Other buildings and improvements | $ 148 | $ 126 |
Property, Plant and Equipment_3
Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Net property, plant and equipment | $ 102,127 | $ 91,694 | |
Impairment charges | (8) | $ 402 | $ 282 |
Wind project | |||
Property, Plant and Equipment [Line Items] | |||
Impairment charges | 69 | ||
Renewable merchant plants | |||
Property, Plant and Equipment [Line Items] | |||
Net property, plant and equipment | $ 160 | ||
Property, plant and equipment | |||
Property, Plant and Equipment [Line Items] | |||
Impairment charges | 58 | ||
Net intangible assets | |||
Property, Plant and Equipment [Line Items] | |||
Impairment charges | $ 11 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Goodwill By Reportable Operating Segment) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill [Line Items] | ||||
Goodwill, balance | $ 19,425,000,000 | $ 19,425,000,000 | ||
Goodwill [Roll Forward] | ||||
Accumulated impairment charges | (122,000,000) | (122,000,000) | ||
Goodwill, Ending balance | $ 19,303,000,000 | |||
Goodwill | 19,303,000,000 | 19,303,000,000 | 19,303,000,000 | |
Commercial Renewables | ||||
Goodwill [Line Items] | ||||
Goodwill, balance | 122,000,000 | 122,000,000 | ||
Goodwill [Roll Forward] | ||||
Accumulated impairment charges | (122,000,000) | (122,000,000) | ||
Impairment charges | 93,000,000 | $ 29,000,000 | ||
Electric Utilities and Infrastructure | ||||
Goodwill [Line Items] | ||||
Goodwill, balance | 17,379,000,000 | 17,379,000,000 | ||
Goodwill [Roll Forward] | ||||
Goodwill, Ending balance | 17,379,000,000 | |||
Goodwill | 17,379,000,000 | 17,379,000,000 | 17,379,000,000 | |
Gas Utilities and Infrastructure | ||||
Goodwill [Line Items] | ||||
Goodwill, balance | 1,924,000,000 | 1,924,000,000 | ||
Goodwill [Roll Forward] | ||||
Goodwill, Ending balance | 1,924,000,000 | |||
Goodwill | 1,924,000,000 | 1,924,000,000 | 1,924,000,000 | |
Duke Energy Ohio | ||||
Goodwill [Roll Forward] | ||||
Accumulated impairment charges | (216,000,000) | (216,000,000) | ||
Goodwill, Ending balance | 920,000,000 | |||
Goodwill | 920,000,000 | 920,000,000 | 920,000,000 | |
Duke Energy Ohio | Electric Utilities and Infrastructure | ||||
Goodwill [Roll Forward] | ||||
Goodwill, Ending balance | 596,000,000 | |||
Goodwill | 596,000,000 | 596,000,000 | 596,000,000 | |
Duke Energy Ohio | Gas Utilities and Infrastructure | ||||
Goodwill [Roll Forward] | ||||
Goodwill, Ending balance | 324,000,000 | |||
Goodwill | 324,000,000 | 324,000,000 | 324,000,000 | |
Progress Energy | ||||
Goodwill [Roll Forward] | ||||
Accumulated impairment charges | 0 | |||
Goodwill, Ending balance | 3,655,000,000 | |||
Goodwill | 3,655,000,000 | 3,655,000,000 | 3,655,000,000 | |
Piedmont | ||||
Goodwill [Roll Forward] | ||||
Accumulated impairment charges | 0 | |||
Goodwill, Ending balance | 49,000,000 | |||
Goodwill | $ 49,000,000 | $ 49,000,000 | $ 49,000,000 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | $ 305 | $ 300 |
Accumulated amortization | (56) | (54) |
Total intangible assets, net | 249 | 246 |
Emission allowances | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 18 | 18 |
Renewable energy certificates | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 172 | 168 |
Natural gas, coal and power contracts | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 24 | 24 |
Accumulated amortization | (21) | (20) |
Renewable operating and development projects | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 89 | 84 |
Accumulated amortization | (34) | (29) |
Other | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 2 | 6 |
Accumulated amortization | (1) | (5) |
Duke Energy Carolinas | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 53 | 46 |
Total intangible assets, net | 53 | 46 |
Duke Energy Carolinas | Emission allowances | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 0 | 0 |
Duke Energy Carolinas | Renewable energy certificates | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 53 | 46 |
Progress Energy | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 123 | 125 |
Total intangible assets, net | 123 | 125 |
Progress Energy | Emission allowances | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 5 | 5 |
Progress Energy | Renewable energy certificates | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 118 | 120 |
Duke Energy Progress | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 120 | 122 |
Total intangible assets, net | 120 | 122 |
Duke Energy Progress | Emission allowances | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 2 | 2 |
Duke Energy Progress | Renewable energy certificates | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 118 | 120 |
Duke Energy Florida | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 3 | 3 |
Total intangible assets, net | 3 | 3 |
Duke Energy Florida | Emission allowances | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 3 | 3 |
Duke Energy Ohio | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 1 | 2 |
Total intangible assets, net | 1 | 2 |
Duke Energy Ohio | Emission allowances | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 0 | 0 |
Duke Energy Ohio | Renewable energy certificates | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 1 | 2 |
Duke Energy Ohio | Other | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 0 | 0 |
Accumulated amortization | 0 | 0 |
Duke Energy Indiana | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 36 | 36 |
Accumulated amortization | (21) | (20) |
Total intangible assets, net | 15 | 16 |
Duke Energy Indiana | Emission allowances | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 12 | 12 |
Duke Energy Indiana | Natural gas, coal and power contracts | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 24 | 24 |
Accumulated amortization | $ (21) | (20) |
Piedmont | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 3 | |
Accumulated amortization | (3) | |
Piedmont | Other | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Gross carrying amount | 3 | |
Accumulated amortization | $ (3) |
Investments in Unconsolidated_3
Investments in Unconsolidated Affiliates (Investments in Equity Method Unconsolidated Affiliates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 1,936 | $ 1,409 | $ 1,175 |
Equity in earnings of unconsolidated affiliates | 162 | 83 | 119 |
Electric Utilities and Infrastructure | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | 122 | 97 | 89 |
Equity in earnings of unconsolidated affiliates | 9 | 6 | 5 |
Gas Utilities and Infrastructure | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | 1,388 | 1,003 | 763 |
Equity in earnings of unconsolidated affiliates | 114 | 27 | 62 |
Commercial Renewables | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | 314 | 201 | 190 |
Equity in earnings of unconsolidated affiliates | (4) | (1) | (5) |
Other | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | 112 | 108 | 133 |
Equity in earnings of unconsolidated affiliates | $ 43 | $ 51 | $ 57 |
Investments in Unconsolidated_4
Investments in Unconsolidated Affiliates (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 06, 2019 | Sep. 05, 2019 | Dec. 31, 2016 | |
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Distributions from equity investments | $ 55 | $ 108 | $ 13 | |||
Distributions from equity investments, return of capital | $ 11 | 137 | $ 281 | |||
Constitution | VIE, Not Primary Beneficiary | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Ownership interest | 24.00% | |||||
ACP | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Distributions from equity investments, return of capital | $ 265 | |||||
Electric Utilities and Infrastructure | DATC | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Ownership interest | 50.00% | |||||
Electric Utilities and Infrastructure | Pioneer | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Ownership interest | 50.00% | |||||
Commercial Renewables | DS Cornerstone | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Ownership interest | 26.00% | 50.00% | ||||
Gas Utilities and Infrastructure | Constitution | VIE, Not Primary Beneficiary | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
OTTI impairment loss | $ 25 | 55 | ||||
Gas Utilities and Infrastructure | ACP | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Ownership interest | 47.00% | |||||
Gas Utilities and Infrastructure | Constitution | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Ownership interest | 24.00% | |||||
Gas Utilities and Infrastructure | Constitution | Constitution | VIE, Not Primary Beneficiary | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
OTTI impairment loss | $ 25 | |||||
Other | NMC | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Ownership interest | 17.50% | 17.50% | 25.00% | |||
Board representation and voting rights, ownership percentage | 25.00% | |||||
Piedmont | ||||||
Investments In Unconsolidated Affiliates [Line Items] | ||||||
Distributions from equity investments | $ 1 | 1 | $ 4 | |||
Distributions from equity investments, return of capital | $ 4 | $ 3 | $ 2 |
Investments in Unconsolidated_5
Investments in Unconsolidated Affiliates (Gas Utilities and Infrastructure Investments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 1,936 | $ 1,409 | $ 1,175 |
Return of investment capital | 11 | 137 | 281 |
ACP | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Return of investment capital | 265 | ||
Gas Utilities and Infrastructure | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 1,388 | 1,003 | 763 |
Gas Utilities and Infrastructure | ACP | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Ownership interest | 47.00% | ||
Investments in equity method unconsolidated affiliates | $ 1,179 | 797 | |
Gas Utilities and Infrastructure | Sabal Trail | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Ownership interest | 7.50% | ||
Investments in equity method unconsolidated affiliates | $ 121 | 112 | |
Return of investment capital | 112 | ||
Gas Utilities and Infrastructure | Constitution | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Ownership interest | 24.00% | ||
Investments in equity method unconsolidated affiliates | 25 | ||
Piedmont | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 83 | 64 | |
Return of investment capital | $ 4 | 3 | $ 2 |
Piedmont | Gas Utilities and Infrastructure | Cardinal | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Ownership interest | 21.49% | ||
Investments in equity method unconsolidated affiliates | $ 9 | 10 | |
Piedmont | Gas Utilities and Infrastructure | Pine Needle | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Ownership interest | 45.00% | ||
Investments in equity method unconsolidated affiliates | $ 28 | 13 | |
Piedmont | Gas Utilities and Infrastructure | Hardy Storage | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Ownership interest | 50.00% | ||
Investments in equity method unconsolidated affiliates | $ 51 | $ 46 |
Related Party Transactions (Oth
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Duke Energy Carolinas | Corporate governance and shared service expenses | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | $ 841 | $ 985 | $ 858 |
Duke Energy Carolinas | Indemnification coverages | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 20 | 22 | 23 |
Duke Energy Carolinas | Joint Dispatch Agreement (JDA) revenue | Duke Energy Progress | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 186 | 207 | 145 |
Related party transaction, other revenues from transactions with related party | 60 | 84 | 49 |
Duke Energy Carolinas | Intercompany natural gas transactions | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 15 | 15 | 9 |
Progress Energy | Corporate governance and shared service expenses | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 778 | 906 | 736 |
Progress Energy | Indemnification coverages | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 37 | 34 | 38 |
Progress Energy | Joint Dispatch Agreement (JDA) revenue | Duke Energy Carolinas | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 60 | 84 | 49 |
Related party transaction, other revenues from transactions with related party | 186 | 207 | 145 |
Progress Energy | Intercompany natural gas transactions | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 76 | 78 | 77 |
Duke Energy Progress | Corporate governance and shared service expenses | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 462 | 577 | 438 |
Duke Energy Progress | Indemnification coverages | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 15 | 13 | 15 |
Duke Energy Progress | Joint Dispatch Agreement (JDA) revenue | Duke Energy Carolinas | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 60 | 84 | 49 |
Related party transaction, other revenues from transactions with related party | 186 | 207 | 145 |
Duke Energy Progress | Intercompany natural gas transactions | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 76 | 78 | 77 |
Duke Energy Florida | Corporate governance and shared service expenses | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 316 | 329 | 298 |
Duke Energy Florida | Indemnification coverages | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 22 | 21 | 23 |
Duke Energy Ohio | Corporate governance and shared service expenses | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 354 | 374 | 363 |
Duke Energy Ohio | Indemnification coverages | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 4 | 5 | 5 |
Duke Energy Indiana | Corporate governance and shared service expenses | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 412 | 405 | 370 |
Duke Energy Indiana | Indemnification coverages | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 7 | 7 | 8 |
Piedmont | Corporate governance and shared service expenses | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 138 | 170 | 50 |
Piedmont | Indemnification coverages | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 3 | 2 | 2 |
Piedmont | Intercompany natural gas transactions | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 91 | 93 | 86 |
Piedmont | Natural gas storage and transportation costs | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | $ 23 | $ 25 | $ 25 |
Related Party Transactions (Int
Related Party Transactions (Intercompany Income Taxes) (Details) - Affiliated entity - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Duke Energy Carolinas | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | $ 52 | |
Intercompany income tax payable | $ 5 | |
Progress Energy | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 125 | 47 |
Duke Energy Progress | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 28 | 29 |
Duke Energy Florida | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax payable | 2 | 16 |
Duke Energy Ohio | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 9 | |
Intercompany income tax payable | 3 | |
Duke Energy Indiana | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | 28 | 8 |
Piedmont | ||
Related Party Transaction [Line Items] | ||
Intercompany income tax receivable | $ 13 | |
Intercompany income tax payable | $ 45 |
Derivatives and Hedging (Notion
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details) Mcf in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)GWhsharesMcf | Dec. 31, 2018USD ($)GWhMcf | |
Call options | ||
Derivative [Line Items] | ||
Aggregate notional amount | shares | 305,000 | |
Put options | ||
Derivative [Line Items] | ||
Aggregate notional amount | shares | 305,000 | |
Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 2,270 | $ 2,644 |
Interest Rate Contracts | Designated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 993 | 923 |
Interest Rate Contracts | Undesignated contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 1,277 | $ 1,721 |
Commodity contracts | Electricity (GWh) | ||
Derivative [Line Items] | ||
Notional amount, energy measure, in gigawatt-hours | GWh | 15,858 | 15,286 |
Commodity contracts | Natural gas (millions of Dth) | ||
Derivative [Line Items] | ||
Notional amount, volume in millions of decatherms | Mcf | 704 | 739 |
VIE | Interest Rate Contracts | Designated contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 693 | $ 422 |
VIE | Interest Rate Contracts | Undesignated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 194 | |
Duke Energy Carolinas | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional Amount | 450 | 300 |
Duke Energy Carolinas | Interest Rate Contracts | Designated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 0 | 0 |
Duke Energy Carolinas | Interest Rate Contracts | Undesignated contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 450 | $ 300 |
Duke Energy Carolinas | Commodity contracts | Natural gas (millions of Dth) | ||
Derivative [Line Items] | ||
Notional amount, volume in millions of decatherms | Mcf | 130 | 121 |
Progress Energy | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 800 | $ 1,200 |
Progress Energy | Interest Rate Contracts | Designated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 0 | 0 |
Progress Energy | Interest Rate Contracts | Undesignated contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 800 | $ 1,200 |
Progress Energy | Commodity contracts | Natural gas (millions of Dth) | ||
Derivative [Line Items] | ||
Notional amount, volume in millions of decatherms | Mcf | 160 | 169 |
Duke Energy Progress | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 250 | $ 650 |
Duke Energy Progress | Interest Rate Contracts | Designated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 0 | 0 |
Duke Energy Progress | Interest Rate Contracts | Undesignated contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 250 | $ 650 |
Duke Energy Progress | Commodity contracts | Natural gas (millions of Dth) | ||
Derivative [Line Items] | ||
Notional amount, volume in millions of decatherms | Mcf | 160 | 166 |
Duke Energy Florida | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 550 | $ 550 |
Duke Energy Florida | Interest Rate Contracts | Designated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 0 | 0 |
Duke Energy Florida | Interest Rate Contracts | Undesignated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 550 | $ 550 |
Duke Energy Florida | Commodity contracts | Natural gas (millions of Dth) | ||
Derivative [Line Items] | ||
Notional amount, volume in millions of decatherms | Mcf | 3 | |
Duke Energy Ohio | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional Amount | 27 | $ 27 |
Duke Energy Ohio | Interest Rate Contracts | Designated contracts | ||
Derivative [Line Items] | ||
Notional Amount | 0 | 0 |
Duke Energy Ohio | Interest Rate Contracts | Undesignated contracts | ||
Derivative [Line Items] | ||
Notional Amount | $ 27 | $ 27 |
Duke Energy Ohio | Commodity contracts | Electricity (GWh) | ||
Derivative [Line Items] | ||
Notional amount, energy measure, in gigawatt-hours | GWh | 1,887 | 1,786 |
Duke Energy Indiana | Commodity contracts | Electricity (GWh) | ||
Derivative [Line Items] | ||
Notional amount, energy measure, in gigawatt-hours | GWh | 13,971 | 13,500 |
Duke Energy Indiana | Commodity contracts | Natural gas (millions of Dth) | ||
Derivative [Line Items] | ||
Notional amount, volume in millions of decatherms | Mcf | 3 | 1 |
Piedmont | Commodity contracts | Natural gas (millions of Dth) | ||
Derivative [Line Items] | ||
Notional amount, volume in millions of decatherms | Mcf | 411 | 448 |
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, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $ 25 | $ 57 |
Location and fair value amounts of derivatives (Liability) | 300 | 242 |
Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 24 | 38 |
Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 19 |
Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 118 | 68 |
Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 182 | 174 |
Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 18 | 39 |
Location and fair value amounts of derivatives (Liability) | 223 | 191 |
Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | 18 |
Location and fair value amounts of derivatives (Liability) | 53 | 51 |
Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 24 | |
Designated as Hedging Instruments | Interest Rate Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 19 | 12 |
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 21 | 6 |
Not Designated as Hedging Instruments | Commodity Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 17 | 35 |
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 4 |
Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 67 | 33 |
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 156 | 158 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | 2 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 8 | 23 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 10 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 12 | |
Not Designated as Hedging Instruments | Equity Securities Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Not Designated as Hedging Instruments | Equity Securities Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Carolinas | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Location and fair value amounts of derivatives (Liability) | 49 | 33 |
Duke Energy Carolinas | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Carolinas | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Carolinas | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 39 | 23 |
Duke Energy Carolinas | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 10 | 10 |
Duke Energy Carolinas | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Location and fair value amounts of derivatives (Liability) | 43 | 24 |
Duke Energy Carolinas | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | 9 |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 33 | 14 |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 10 | 10 |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | 9 |
Progress Energy | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | 4 |
Location and fair value amounts of derivatives (Liability) | 88 | 44 |
Progress Energy | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | 2 |
Progress Energy | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Progress Energy | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 51 | 23 |
Progress Energy | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 37 | 21 |
Progress Energy | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 63 | 25 |
Progress Energy | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Location and fair value amounts of derivatives (Liability) | 1 | 19 |
Progress Energy | Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 24 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 26 | 10 |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 37 | 15 |
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 13 |
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | |
Progress Energy | Not Designated as Hedging Instruments | Equity Securities Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Progress Energy | Not Designated as Hedging Instruments | Equity Securities Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Progress | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 49 | 27 |
Duke Energy Progress | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Progress | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Progress | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 27 | 16 |
Duke Energy Progress | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 22 | 11 |
Duke Energy Progress | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 48 | 11 |
Duke Energy Progress | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 16 |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 26 | 5 |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 22 | 6 |
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 11 |
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | |
Duke Energy Florida | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | |
Location and fair value amounts of derivatives (Liability) | 24 | 9 |
Duke Energy Florida | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | |
Duke Energy Florida | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | 8 |
Duke Energy Florida | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Florida | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | |
Duke Energy Florida | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Location and fair value amounts of derivatives (Liability) | 3 | |
Duke Energy Florida | Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 2 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Equity Securities Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Equity Securities Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Ohio | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | 6 |
Location and fair value amounts of derivatives (Liability) | 6 | 5 |
Duke Energy Ohio | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 6 |
Duke Energy Ohio | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Ohio | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Ohio | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 4 |
Duke Energy Ohio | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | 6 |
Duke Energy Ohio | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | 5 |
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 6 |
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 4 |
Duke Energy Indiana | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 13 | 23 |
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Indiana | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 13 | 23 |
Duke Energy Indiana | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Indiana | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 13 | 23 |
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 13 | 23 |
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Piedmont | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 3 |
Location and fair value amounts of derivatives (Liability) | 117 | 141 |
Piedmont | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 3 |
Piedmont | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 7 | 8 |
Piedmont | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 110 | 133 |
Piedmont | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 3 |
Location and fair value amounts of derivatives (Liability) | 117 | 141 |
Piedmont | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 0 | |
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 3 |
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 0 | |
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 7 | 8 |
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | $ 110 | $ 133 |
Derivatives and Hedging (Schedu
Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Offsetting Assets [Line Items] | ||
Gross amounts recognized | $ 25 | $ 57 |
Net amounts presented on Balance Sheets | 25 | 57 |
Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 24 | 38 |
Gross amounts offset | (1) | (3) |
Net amounts presented on Balance Sheets | 23 | 35 |
Noncurrent assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 1 | 19 |
Gross amounts offset | (3) | |
Net amounts presented on Balance Sheets | 1 | 16 |
Duke Energy Carolinas | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 3 | |
Net amounts presented on Balance Sheets | 3 | |
Duke Energy Carolinas | Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 2 | |
Gross amounts offset | (2) | |
Duke Energy Carolinas | Noncurrent assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 1 | |
Gross amounts offset | (1) | |
Progress Energy | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 7 | 4 |
Net amounts presented on Balance Sheets | 7 | 4 |
Progress Energy | Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 7 | 2 |
Gross amounts offset | (1) | (2) |
Net amounts presented on Balance Sheets | 6 | |
Progress Energy | Noncurrent assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 2 | |
Gross amounts offset | (2) | |
Duke Energy Progress | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 4 | |
Net amounts presented on Balance Sheets | 4 | |
Duke Energy Progress | Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 2 | |
Gross amounts offset | (2) | |
Duke Energy Progress | Noncurrent assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 2 | |
Gross amounts offset | (2) | |
Duke Energy Florida | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 7 | |
Net amounts presented on Balance Sheets | 7 | |
Duke Energy Florida | Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 7 | |
Gross amounts offset | (1) | |
Net amounts presented on Balance Sheets | 6 | |
Duke Energy Ohio | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 4 | 6 |
Duke Energy Ohio | Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 3 | 6 |
Net amounts presented on Balance Sheets | 3 | 6 |
Duke Energy Ohio | Noncurrent assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 1 | |
Net amounts presented on Balance Sheets | 1 | |
Duke Energy Indiana | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 13 | 23 |
Net amounts presented on Balance Sheets | 13 | 23 |
Duke Energy Indiana | Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 13 | 23 |
Net amounts presented on Balance Sheets | 13 | 23 |
Piedmont | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 1 | 3 |
Net amounts presented on Balance Sheets | 1 | 3 |
Piedmont | Current Assets | ||
Offsetting Assets [Line Items] | ||
Gross amounts recognized | 1 | 3 |
Net amounts presented on Balance Sheets | $ 1 | $ 3 |
Derivatives and Hedging (Sche_2
Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | $ 300 | $ 242 |
Net amounts presented on Balance Sheets | 277 | 242 |
Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 118 | 68 |
Gross amounts offset | (24) | (4) |
Net amounts presented on Balance Sheets | 94 | 64 |
Noncurrent Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 182 | 174 |
Gross amounts offset | (3) | |
Net amounts presented on Balance Sheets | 182 | 171 |
Duke Energy Carolinas | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 49 | 33 |
Net amounts presented on Balance Sheets | 49 | 33 |
Duke Energy Carolinas | Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 39 | 23 |
Gross amounts offset | (2) | |
Net amounts presented on Balance Sheets | 39 | 21 |
Duke Energy Carolinas | Noncurrent Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 10 | 10 |
Gross amounts offset | (1) | |
Net amounts presented on Balance Sheets | 10 | 9 |
Progress Energy | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 88 | 44 |
Net amounts presented on Balance Sheets | 65 | 44 |
Progress Energy | Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 51 | 23 |
Gross amounts offset | (24) | (2) |
Net amounts presented on Balance Sheets | 27 | 21 |
Progress Energy | Noncurrent Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 37 | 21 |
Gross amounts offset | (2) | |
Net amounts presented on Balance Sheets | 37 | 19 |
Duke Energy Progress | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 49 | 27 |
Net amounts presented on Balance Sheets | 49 | 27 |
Duke Energy Progress | Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 27 | 16 |
Gross amounts offset | (2) | |
Net amounts presented on Balance Sheets | 27 | 14 |
Duke Energy Progress | Noncurrent Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 22 | 11 |
Gross amounts offset | (2) | |
Net amounts presented on Balance Sheets | 22 | 9 |
Duke Energy Florida | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 24 | 9 |
Net amounts presented on Balance Sheets | 1 | 9 |
Duke Energy Florida | Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 24 | 8 |
Gross amounts offset | (24) | |
Net amounts presented on Balance Sheets | 8 | |
Duke Energy Florida | Noncurrent Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 1 | |
Net amounts presented on Balance Sheets | 1 | |
Duke Energy Ohio | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 6 | 5 |
Duke Energy Ohio | Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 1 | 1 |
Net amounts presented on Balance Sheets | 1 | 1 |
Duke Energy Ohio | Noncurrent Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 5 | 4 |
Net amounts presented on Balance Sheets | 5 | 4 |
Duke Energy Indiana | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 1 | |
Net amounts presented on Balance Sheets | 1 | |
Duke Energy Indiana | Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 1 | |
Net amounts presented on Balance Sheets | 1 | |
Piedmont | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 117 | 141 |
Net amounts presented on Balance Sheets | 117 | 141 |
Piedmont | Current Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 7 | 8 |
Net amounts presented on Balance Sheets | 7 | 8 |
Piedmont | Noncurrent Liabilities | ||
Offsetting Liabilities [Line Items] | ||
Gross amounts recognized | 110 | 133 |
Net amounts presented on Balance Sheets | $ 110 | $ 133 |
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, 2019 | Dec. 31, 2018 |
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | $ 79 | $ 44 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 79 | 44 |
Duke Energy Carolinas | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 35 | 19 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 35 | 19 |
Progress Energy | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 44 | 25 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 44 | 25 |
Duke Energy Progress | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 44 | 25 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | $ 44 | $ 25 |
Investments in Debt and Equit_3
Investments in Debt and Equity Securities (Estimated Fair Value of Investments in Debt and Equity Securities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | $ 2,626 | |
Total Investments | ||
Unrealized Holding Gains | 3,675 | $ 2,458 |
Unrealized Holding Losses | 57 | 131 |
Estimated Fair Value | 8,562 | 7,075 |
NDTF | ||
Equity Securities, FV-NI | ||
Gross Unrealized Holding Gains | 3,523 | 2,402 |
Gross Unrealized Holding Losses | 55 | 95 |
Estimated Fair Value | 5,661 | 4,475 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 2,469 | 2,231 |
Total Investments | ||
Unrealized Holding Gains | 3,609 | 2,421 |
Unrealized Holding Losses | 57 | 126 |
Estimated Fair Value | 8,130 | 6,706 |
NDTF | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 101 | 88 |
NDTF | Corporate debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 37 | 4 |
Gross Unrealized Holding Losses | 1 | 13 |
Estimated Fair Value | 603 | 566 |
NDTF | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 13 | 1 |
Gross Unrealized Holding Losses | 0 | 4 |
Estimated Fair Value | 368 | 353 |
NDTF | U.S. government bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 33 | 14 |
Gross Unrealized Holding Losses | 1 | 12 |
Estimated Fair Value | 1,256 | 1,076 |
NDTF | Other debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 0 |
Gross Unrealized Holding Losses | 0 | 2 |
Estimated Fair Value | 141 | 148 |
Other Investments | ||
Equity Securities, FV-NI | ||
Gross Unrealized Holding Gains | 57 | 36 |
Gross Unrealized Holding Losses | 0 | 1 |
Estimated Fair Value | 122 | 99 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 310 | 270 |
Total Investments | ||
Unrealized Holding Gains | 66 | 37 |
Unrealized Holding Losses | 0 | 5 |
Estimated Fair Value | 432 | 369 |
Other Investments | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 52 | 22 |
Other Investments | Corporate debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 0 |
Gross Unrealized Holding Losses | 0 | 2 |
Estimated Fair Value | 67 | 60 |
Other Investments | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 4 | 0 |
Gross Unrealized Holding Losses | 0 | 1 |
Estimated Fair Value | 94 | 85 |
Other Investments | U.S. government bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 2 | 1 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 41 | 45 |
Other Investments | Other debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 1 |
Estimated Fair Value | 56 | 58 |
Duke Energy Carolinas | ||
Equity Securities, FV-NI | ||
Estimated Fair Value | 2,484 | |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,172 | |
Duke Energy Carolinas | NDTF | ||
Equity Securities, FV-NI | ||
Gross Unrealized Holding Gains | 1,914 | 1,309 |
Gross Unrealized Holding Losses | 8 | 54 |
Estimated Fair Value | 3,154 | 2,484 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,193 | 1,069 |
Total Investments | ||
Unrealized Holding Gains | 1,957 | 1,316 |
Unrealized Holding Losses | 10 | 74 |
Estimated Fair Value | 4,347 | 3,553 |
Duke Energy Carolinas | NDTF | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 21 | 29 |
Duke Energy Carolinas | NDTF | Corporate debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 21 | 2 |
Gross Unrealized Holding Losses | 1 | 9 |
Estimated Fair Value | 361 | 341 |
Duke Energy Carolinas | NDTF | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 0 |
Gross Unrealized Holding Losses | 0 | 1 |
Estimated Fair Value | 96 | 81 |
Duke Energy Carolinas | NDTF | U.S. government bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 16 | 5 |
Gross Unrealized Holding Losses | 1 | 8 |
Estimated Fair Value | 578 | 475 |
Duke Energy Carolinas | NDTF | Other debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 0 |
Gross Unrealized Holding Losses | 0 | 2 |
Estimated Fair Value | 137 | 143 |
Progress Energy | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,247 | |
Total Investments | ||
Unrealized Holding Gains | 1,655 | 1,105 |
Unrealized Holding Losses | 47 | 52 |
Estimated Fair Value | 3,883 | 3,217 |
Progress Energy | NDTF | ||
Equity Securities, FV-NI | ||
Gross Unrealized Holding Gains | 1,609 | 1,093 |
Gross Unrealized Holding Losses | 47 | 41 |
Estimated Fair Value | 2,507 | 1,991 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,276 | 1,162 |
Total Investments | ||
Unrealized Holding Gains | 1,652 | 1,105 |
Unrealized Holding Losses | 47 | 52 |
Estimated Fair Value | 3,783 | 3,153 |
Progress Energy | NDTF | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 80 | 59 |
Progress Energy | NDTF | Corporate debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 16 | 2 |
Gross Unrealized Holding Losses | 0 | 4 |
Estimated Fair Value | 242 | 225 |
Progress Energy | NDTF | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 10 | 1 |
Gross Unrealized Holding Losses | 0 | 3 |
Estimated Fair Value | 272 | 272 |
Progress Energy | NDTF | U.S. government bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 17 | 9 |
Gross Unrealized Holding Losses | 0 | 4 |
Estimated Fair Value | 678 | 601 |
Progress Energy | NDTF | Other debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 4 | 5 |
Progress Energy | Other Investments | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 100 | 64 |
Total Investments | ||
Unrealized Holding Gains | 3 | 0 |
Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 100 | 64 |
Progress Energy | Other Investments | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 49 | 17 |
Progress Energy | Other Investments | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 51 | 47 |
Duke Energy Progress | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 921 | |
Total Investments | ||
Unrealized Holding Gains | 1,300 | 842 |
Unrealized Holding Losses | 21 | 39 |
Estimated Fair Value | 3,053 | 2,500 |
Duke Energy Progress | NDTF | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 53 | |
Equity Securities, FV-NI | ||
Gross Unrealized Holding Gains | 1,258 | 833 |
Gross Unrealized Holding Losses | 21 | 30 |
Estimated Fair Value | 2,077 | 1,588 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 974 | 906 |
Total Investments | ||
Unrealized Holding Gains | 1,300 | 842 |
Unrealized Holding Losses | 21 | 39 |
Estimated Fair Value | 3,051 | 2,494 |
Duke Energy Progress | NDTF | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 46 | |
Duke Energy Progress | NDTF | Corporate debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 16 | 2 |
Gross Unrealized Holding Losses | 0 | 3 |
Estimated Fair Value | 242 | 171 |
Duke Energy Progress | NDTF | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 10 | 1 |
Gross Unrealized Holding Losses | 0 | 3 |
Estimated Fair Value | 272 | 271 |
Duke Energy Progress | NDTF | U.S. government bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 16 | 6 |
Gross Unrealized Holding Losses | 0 | 3 |
Estimated Fair Value | 403 | 415 |
Duke Energy Progress | NDTF | Other debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 4 | 3 |
Duke Energy Progress | Other Investments | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 2 | |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 2 | 6 |
Total Investments | ||
Unrealized Holding Gains | 0 | 0 |
Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 2 | 6 |
Duke Energy Progress | Other Investments | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 6 | |
Duke Energy Florida | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 326 | |
Total Investments | ||
Unrealized Holding Gains | 355 | 263 |
Unrealized Holding Losses | 26 | 13 |
Estimated Fair Value | 787 | 707 |
Duke Energy Florida | NDTF | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 27 | |
Equity Securities, FV-NI | ||
Gross Unrealized Holding Gains | 351 | 260 |
Gross Unrealized Holding Losses | 26 | 11 |
Estimated Fair Value | 430 | 403 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 302 | 256 |
Total Investments | ||
Unrealized Holding Gains | 352 | 263 |
Unrealized Holding Losses | 26 | 13 |
Estimated Fair Value | 732 | 659 |
Duke Energy Florida | NDTF | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 13 | |
Duke Energy Florida | NDTF | Corporate debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 1 |
Estimated Fair Value | 0 | 54 |
Duke Energy Florida | NDTF | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | |
Estimated Fair Value | 0 | 1 |
Duke Energy Florida | NDTF | U.S. government bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | 3 |
Gross Unrealized Holding Losses | 0 | 1 |
Estimated Fair Value | 275 | 186 |
Duke Energy Florida | NDTF | Other debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 0 | 2 |
Duke Energy Florida | Other Investments | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 4 | |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 55 | 48 |
Total Investments | ||
Unrealized Holding Gains | 3 | 0 |
Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 55 | 48 |
Duke Energy Florida | Other Investments | Cash and cash equivalents | ||
Available-for-sale Securities | ||
Cash And Cash Equivalent Investments | 1 | |
Duke Energy Florida | Other Investments | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 51 | 47 |
Duke Energy Indiana | ||
Equity Securities, FV-NI | ||
Gross Unrealized Holding Gains | 43 | 29 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 81 | 67 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 44 | |
Total Investments | ||
Unrealized Holding Gains | 44 | 29 |
Unrealized Holding Losses | 1 | |
Estimated Fair Value | 125 | 108 |
Duke Energy Indiana | Corporate debt securities | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Gross Unrealized Holding Losses | 0 | 0 |
Estimated Fair Value | 6 | 8 |
Duke Energy Indiana | Municipal bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | 0 |
Gross Unrealized Holding Losses | 0 | 1 |
Estimated Fair Value | 36 | 33 |
Duke Energy Indiana | Other Investments | ||
Equity Securities, FV-NI | ||
Estimated Fair Value | 81 | 67 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 44 | 41 |
Duke Energy Indiana | Other Investments | U.S. government bonds | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 0 | 0 |
Estimated Fair Value | $ 2 | $ 0 |
Investments in Debt and Equit_4
Investments in Debt and Equity Securities (Maturities) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | $ 372 |
Due after one through five years | 550 |
Due after five through 10 years | 452 |
Due after 10 years | 1,252 |
Total | 2,626 |
Duke Energy Carolinas | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 51 |
Due after one through five years | 253 |
Due after five through 10 years | 181 |
Due after 10 years | 687 |
Total | 1,172 |
Progress Energy | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 311 |
Due after one through five years | 256 |
Due after five through 10 years | 211 |
Due after 10 years | 469 |
Total | 1,247 |
Duke Energy Progress | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 34 |
Due after one through five years | 247 |
Due after five through 10 years | 204 |
Due after 10 years | 436 |
Total | 921 |
Duke Energy Florida | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 277 |
Due after one through five years | 9 |
Due after five through 10 years | 7 |
Due after 10 years | 33 |
Total | 326 |
Duke Energy Indiana | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 4 |
Due after one through five years | 16 |
Due after five through 10 years | 7 |
Due after 10 years | 17 |
Total | $ 44 |
Investments in Debt and Equit_5
Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
FV-NI: | |||
Realized gains | $ 172 | $ 168 | |
Realized losses | 151 | 126 | |
AFS: | |||
Realized gains | 94 | 22 | |
Realized losses | 67 | 51 | |
Available-for-sale Securities, Realized Gain (Loss) [Abstract] | |||
Realized gains | $ 202 | ||
Realized losses | 160 | ||
Duke Energy Carolinas | |||
FV-NI: | |||
Realized gains | 113 | 89 | |
Realized losses | 107 | 73 | |
AFS: | |||
Realized gains | 55 | 19 | |
Realized losses | 38 | 35 | |
Available-for-sale Securities, Realized Gain (Loss) [Abstract] | |||
Realized gains | 135 | ||
Realized losses | 103 | ||
Progress Energy | |||
FV-NI: | |||
Realized gains | 59 | 79 | |
Realized losses | 44 | 53 | |
AFS: | |||
Realized gains | 36 | 3 | |
Realized losses | 29 | 15 | |
Available-for-sale Securities, Realized Gain (Loss) [Abstract] | |||
Realized gains | 65 | ||
Realized losses | 56 | ||
Duke Energy Progress | |||
FV-NI: | |||
Realized gains | 38 | 68 | |
Realized losses | 33 | 48 | |
AFS: | |||
Realized gains | 7 | 2 | |
Realized losses | 5 | 10 | |
Available-for-sale Securities, Realized Gain (Loss) [Abstract] | |||
Realized gains | 54 | ||
Realized losses | 48 | ||
Duke Energy Florida | |||
FV-NI: | |||
Realized gains | 21 | 11 | |
Realized losses | 11 | 5 | |
AFS: | |||
Realized gains | 29 | 1 | |
Realized losses | $ 24 | $ 5 | |
Available-for-sale Securities, Realized Gain (Loss) [Abstract] | |||
Realized gains | 11 | ||
Realized losses | $ 8 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | $ 2,626 | |
Derivative assets | 25 | $ 57 |
Total assets | 8,610 | 7,132 |
Derivative liabilities | (277) | (242) |
Net assets (liabilities) | 8,310 | 6,890 |
Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | 4 |
Total assets | 6,675 | 5,156 |
Derivative liabilities | (15) | (11) |
Net assets (liabilities) | 6,660 | 5,145 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | 25 |
Total assets | 1,869 | 1,883 |
Derivative liabilities | (145) | (90) |
Net assets (liabilities) | 1,701 | 1,793 |
Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 15 | 28 |
Total assets | 15 | 28 |
Derivative liabilities | (117) | (141) |
Net assets (liabilities) | (102) | (113) |
Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 51 | 65 |
Net assets (liabilities) | 51 | 65 |
NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 5,684 | 4,475 |
NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 5,633 | 4,410 |
NDTF equity securities | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 51 | 65 |
NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 5,661 | 4,475 |
Debt securities, available-for-sale | 2,469 | 2,231 |
Derivative liabilities | (23) | |
NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 826 | 576 |
NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,643 | 1,655 |
Derivative liabilities | (23) | |
Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 122 | 99 |
Debt securities, available-for-sale | 310 | 270 |
Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 122 | 99 |
Debt securities, available-for-sale | 91 | 67 |
Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 219 | 203 |
Duke Energy Carolinas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,484 | |
Debt securities, available-for-sale | 1,172 | |
Derivative assets | 3 | |
Total assets | 4,347 | 3,556 |
Derivative liabilities | (49) | (33) |
Net assets (liabilities) | 4,298 | 3,523 |
Duke Energy Carolinas | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,419 | |
Total assets | 3,330 | 2,568 |
Net assets (liabilities) | 3,330 | 2,568 |
Duke Energy Carolinas | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | |
Total assets | 966 | 923 |
Derivative liabilities | (49) | (33) |
Net assets (liabilities) | 917 | 890 |
Duke Energy Carolinas | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 65 | |
Total assets | 51 | 65 |
Net assets (liabilities) | 51 | 65 |
Duke Energy Carolinas | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 3,154 | |
Duke Energy Carolinas | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 3,103 | |
Duke Energy Carolinas | NDTF equity securities | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 51 | |
Duke Energy Carolinas | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 3,154 | 2,484 |
Debt securities, available-for-sale | 1,193 | 1,069 |
Duke Energy Carolinas | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 227 | 149 |
Duke Energy Carolinas | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 966 | 920 |
Progress Energy | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,247 | |
Derivative assets | 7 | 4 |
Total assets | 3,913 | 3,221 |
Derivative liabilities | (65) | (44) |
Net assets (liabilities) | 3,825 | 3,177 |
Progress Energy | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 3,178 | 2,435 |
Net assets (liabilities) | 3,178 | 2,435 |
Progress Energy | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | 4 |
Total assets | 735 | 786 |
Derivative liabilities | (65) | (44) |
Net assets (liabilities) | 647 | 742 |
Progress Energy | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,530 | 1,991 |
Progress Energy | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,530 | 1,991 |
Progress Energy | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,507 | 1,991 |
Debt securities, available-for-sale | 1,276 | 1,162 |
Derivative liabilities | (23) | |
Progress Energy | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 599 | 427 |
Progress Energy | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 677 | 735 |
Derivative liabilities | (23) | |
Progress Energy | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 100 | 64 |
Progress Energy | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 49 | 17 |
Progress Energy | Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 51 | 47 |
Duke Energy Progress | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 921 | |
Derivative assets | 4 | |
Total assets | 3,053 | 2,504 |
Derivative liabilities | (49) | (27) |
Net assets (liabilities) | 3,004 | 2,477 |
Duke Energy Progress | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 2,376 | 1,888 |
Net assets (liabilities) | 2,376 | 1,888 |
Duke Energy Progress | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 4 | |
Total assets | 677 | 616 |
Derivative liabilities | (49) | (27) |
Net assets (liabilities) | 628 | 589 |
Duke Energy Progress | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,077 | 1,588 |
Duke Energy Progress | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,077 | 1,588 |
Duke Energy Progress | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,077 | 1,588 |
Debt securities, available-for-sale | 974 | 906 |
Duke Energy Progress | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 297 | 294 |
Duke Energy Progress | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 677 | 612 |
Duke Energy Progress | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 2 | 6 |
Duke Energy Progress | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 2 | 6 |
Duke Energy Florida | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 326 | |
Derivative assets | 7 | |
Total assets | 817 | 707 |
Derivative liabilities | (1) | (9) |
Net assets (liabilities) | 793 | 698 |
Duke Energy Florida | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 759 | 537 |
Net assets (liabilities) | 759 | 537 |
Duke Energy Florida | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | |
Total assets | 58 | 170 |
Derivative liabilities | (1) | (9) |
Net assets (liabilities) | 34 | 161 |
Duke Energy Florida | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 453 | 403 |
Duke Energy Florida | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 453 | 403 |
Duke Energy Florida | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 430 | 403 |
Debt securities, available-for-sale | 302 | 256 |
Derivative liabilities | (23) | |
Duke Energy Florida | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 302 | 133 |
Duke Energy Florida | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 123 | |
Derivative liabilities | (23) | |
Duke Energy Florida | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 55 | 48 |
Duke Energy Florida | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 4 | 1 |
Duke Energy Florida | Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 51 | 47 |
Duke Energy Indiana | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 81 | 67 |
Debt securities, available-for-sale | 44 | |
Derivative assets | 13 | 23 |
Total assets | 138 | 131 |
Derivative liabilities | (1) | |
Net assets (liabilities) | 137 | 131 |
Duke Energy Indiana | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | 1 |
Total assets | 83 | 68 |
Derivative liabilities | (1) | |
Net assets (liabilities) | 82 | 68 |
Duke Energy Indiana | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 44 | 41 |
Net assets (liabilities) | 44 | 41 |
Duke Energy Indiana | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 11 | 22 |
Total assets | 11 | 22 |
Net assets (liabilities) | 11 | 22 |
Duke Energy Indiana | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 81 | 67 |
Debt securities, available-for-sale | 44 | 41 |
Duke Energy Indiana | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 81 | 67 |
Duke Energy Indiana | Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 44 | 41 |
Piedmont | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1 | 3 |
Derivative liabilities | (117) | (141) |
Net assets (liabilities) | (116) | (138) |
Piedmont | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1 | 3 |
Net assets (liabilities) | 1 | 3 |
Piedmont | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | (117) | (141) |
Net assets (liabilities) | $ (117) | $ (141) |
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, 2019 | Dec. 31, 2018 | |
Derivatives (net) | ||
Balance at beginning of period | $ (113) | $ (114) |
Purchases | 37 | 57 |
Settlements | (44) | (57) |
Total gains (losses) included on the Consolidated Balance Sheet | 18 | 1 |
Ending balance | (102) | (113) |
Duke Energy Indiana | ||
Derivatives (net) | ||
Balance at beginning of period | 22 | 27 |
Purchases | 28 | 50 |
Settlements | (36) | (53) |
Total gains (losses) included on the Consolidated Balance Sheet | (3) | (2) |
Ending balance | 11 | 22 |
Piedmont | ||
Derivatives (net) | ||
Balance at beginning of period | (141) | (142) |
Total gains (losses) and settlements | 24 | 1 |
Ending balance | $ (117) | $ (141) |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosure) (Details) $ in Millions | Dec. 31, 2019USD ($)$ / MWh$ / MMBTU | Dec. 31, 2018USD ($)$ / MWh$ / MMBTU | Dec. 31, 2017USD ($) |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Net derivative asset (liability) | $ | $ (102) | $ (113) | $ (114) |
Duke Energy Ohio | FTR price – per MWh | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Net derivative asset (liability) | $ | $ 4 | $ 6 | |
Duke Energy Ohio | FTR price – per MWh | Minimum | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MWh | 0.59 | 1.19 | |
Duke Energy Ohio | FTR price – per MWh | Maximum | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MWh | 3.47 | 4.59 | |
Duke Energy Ohio | FTR price – per MWh | Weighted Average [Member] | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MWh | 2.07 | ||
Duke Energy Indiana | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Net derivative asset (liability) | $ | $ 11 | $ 22 | 27 |
Duke Energy Indiana | FTR price – per MWh | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Net derivative asset (liability) | $ | $ 11 | $ 22 | |
Duke Energy Indiana | FTR price – per MWh | Minimum | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MWh | (0.66) | (2.07) | |
Duke Energy Indiana | FTR price – per MWh | Maximum | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MWh | 9.24 | 8.27 | |
Duke Energy Indiana | FTR price – per MWh | Weighted Average [Member] | RTO auction pricing | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MWh | 1.15 | ||
Piedmont | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Net derivative asset (liability) | $ | $ (117) | $ (141) | $ (142) |
Piedmont | Forward natural gas curves – price per MMBtu | Discounted cash flow | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Net derivative asset (liability) | $ | $ (117) | $ (141) | |
Piedmont | Forward natural gas curves – price per MMBtu | Minimum | Discounted cash flow | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MMBTU | 1.59 | 1.87 | |
Piedmont | Forward natural gas curves – price per MMBtu | Maximum | Discounted cash flow | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MMBTU | 2.46 | 2.95 | |
Piedmont | Forward natural gas curves – price per MMBtu | Weighted Average [Member] | Discounted cash flow | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Input measurement (in usd per MWh and usd per MMBtu) | $ / MMBTU | 1.91 |
Fair Value Measurements (Other
Fair Value Measurements (Other Fair Value Disclosures) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | $ 58,126 | $ 54,529 |
Long-term debt, fair value | 63,062 | 54,534 |
Unamortized debt discount and premium, net | 1,500 | 1,600 |
Duke Energy Carolinas | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | 11,900 | 10,939 |
Long-term debt, fair value | 13,516 | 11,471 |
Progress Energy | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | 19,634 | 18,911 |
Long-term debt, fair value | 22,291 | 19,885 |
Duke Energy Progress | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | 9,058 | 8,204 |
Long-term debt, fair value | 9,934 | 8,300 |
Duke Energy Florida | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | 7,987 | 7,321 |
Long-term debt, fair value | 9,131 | 7,742 |
Duke Energy Ohio | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | 2,619 | 2,165 |
Long-term debt, fair value | 2,964 | 2,239 |
Duke Energy Indiana | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | 4,057 | 3,782 |
Long-term debt, fair value | 4,800 | 4,158 |
Piedmont | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term Debt | 2,384 | 2,138 |
Long-term debt, fair value | $ 2,642 | $ 2,180 |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
FES | ||||
Variable Interest Entity [Line Items] | ||||
Power Purchase Participation Rate | 4.85% | |||
Financial guarantee | ACP | ||||
Variable Interest Entity [Line Items] | ||||
Maximum potential amount of future payments associated with guarantees | $ 827,000,000 | |||
Outstanding borrowings under the credit facility, percent | 47.00% | |||
VIE | ||||
Variable Interest Entity [Line Items] | ||||
Financial support | $ 0 | $ 0 | $ 0 | |
VIE | CRC | ||||
Variable Interest Entity [Line Items] | ||||
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 | |||
VIE, Not Primary Beneficiary | CRC | Duke Energy Ohio | ||||
Variable Interest Entity [Line Items] | ||||
Fixed interest rate added to LIBOR to compute variable rate | 1.00% | |||
VIE, Not Primary Beneficiary | OVEC | Duke Energy Ohio | ||||
Variable Interest Entity [Line Items] | ||||
VIE Ownership interest | 9.00% |
Variable Interest Entities (Sch
Variable Interest Entities (Schedule of Accounts Receivable Securitizations) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Variable Interest Entity [Line Items] | ||
Long-Term Debt | $ 54,985 | $ 51,123 |
Duke Energy Carolinas | ||
Variable Interest Entity [Line Items] | ||
Long-Term Debt | 11,142 | 10,633 |
Duke Energy Progress | ||
Variable Interest Entity [Line Items] | ||
Long-Term Debt | 7,902 | 7,451 |
Duke Energy Florida | ||
Variable Interest Entity [Line Items] | ||
Long-Term Debt | $ 7,416 | 7,051 |
CRC | VIE | ||
Variable Interest Entity [Line Items] | ||
Expiration date | Dec. 1, 2020 | |
Facility Size | $ 350 | |
Long-Term Debt | 350 | 325 |
Restricted Receivables | $ 522 | 564 |
DERF | Duke Energy Carolinas | VIE | ||
Variable Interest Entity [Line Items] | ||
Expiration date | Dec. 1, 2022 | |
Facility Size | $ 475 | |
Long-Term Debt | 474 | 450 |
Restricted Receivables | $ 642 | 699 |
DEPR | Duke Energy Progress | VIE | ||
Variable Interest Entity [Line Items] | ||
Expiration date | Feb. 1, 2021 | |
Facility Size | $ 325 | |
Long-Term Debt | 325 | 300 |
Restricted Receivables | $ 489 | 547 |
DEFR | Duke Energy Florida | VIE | ||
Variable Interest Entity [Line Items] | ||
Expiration date | Apr. 1, 2021 | |
Facility Size | $ 250 | |
Long-Term Debt | 250 | 225 |
Restricted Receivables | $ 336 | $ 357 |
Variable Interest Entities (Con
Variable Interest Entities (Consolidated VIEs) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Regulatory Assets: Current | $ 1,796 | $ 2,005 |
Current Assets: Other | 764 | 1,049 |
Property, Plant and Equipment: Cost | 147,654 | 134,458 |
Accumulated depreciation and amortization | (45,773) | (43,126) |
Other Noncurrent Assets: Regulatory assets | 13,222 | 13,617 |
Other Noncurrent Assets: Other | 3,289 | 2,935 |
Current Liabilities: Other | 2,367 | 2,085 |
Current maturities of long-term debt | 3,141 | 3,406 |
Long-Term Debt | 54,985 | 51,123 |
Asset retirement obligations | 12,437 | 9,548 |
Other Noncurrent Liabilities: Other | 1,581 | 1,650 |
Duke Energy Florida | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Regulatory Assets: Current | 419 | 434 |
Current Assets: Other | 58 | 46 |
Property, Plant and Equipment: Cost | 20,457 | 18,792 |
Accumulated depreciation and amortization | (5,236) | (4,968) |
Other Noncurrent Assets: Regulatory assets | 2,194 | 2,454 |
Other Noncurrent Assets: Other | 311 | 311 |
Current Liabilities: Other | 415 | 406 |
Current maturities of long-term debt | 571 | 270 |
Long-Term Debt | 7,416 | 7,051 |
Asset retirement obligations | 578 | 586 |
Other Noncurrent Liabilities: Other | 136 | 93 |
DEFPF | Duke Energy Florida | VIE | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Receivables of VIEs | 5 | 5 |
Regulatory Assets: Current | 52 | 52 |
Current Assets: Other | 39 | 39 |
Other Noncurrent Assets: Regulatory assets | 989 | 1,041 |
Current Liabilities: Other | 10 | 10 |
Current maturities of long-term debt | 54 | 53 |
Long-Term Debt | 1,057 | 1,111 |
Commercial Renewables | VIE | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Current Assets: Other | 203 | 123 |
Property, Plant and Equipment: Cost | 5,747 | 4,007 |
Accumulated depreciation and amortization | (1,041) | (698) |
Other Noncurrent Assets: Other | 106 | 261 |
Current maturities of long-term debt | 162 | 174 |
Long-Term Debt | 1,541 | 1,587 |
Asset retirement obligations | 127 | 106 |
Other Noncurrent Liabilities: Other | $ 228 | $ 212 |
Variable Interest Entities (S_2
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 1,936 | $ 1,409 | $ 1,175 |
Other Noncurrent Assets: Other | 3,289 | 2,935 | |
Current Liabilities: Other | 2,367 | 2,085 | |
Deferred income taxes | 8,878 | 7,806 | |
Other Noncurrent Liabilities: Other | 1,581 | 1,650 | |
Duke Energy Ohio | |||
Variable Interest Entity [Line Items] | |||
Receivables from affiliated companies | 92 | 114 | |
Other Noncurrent Assets: Other | 52 | 41 | |
Current Liabilities: Other | 75 | 74 | |
Deferred income taxes | 922 | 817 | |
Other Noncurrent Liabilities: Other | 94 | 93 | |
Duke Energy Indiana | |||
Variable Interest Entity [Line Items] | |||
Receivables from affiliated companies | 79 | 122 | |
Other Noncurrent Assets: Other | 234 | 194 | |
Current Liabilities: Other | 112 | 107 | |
Deferred income taxes | 1,150 | 1,009 | |
Other Noncurrent Liabilities: Other | 18 | 16 | |
VIE, Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
Receivables from affiliated companies | (1) | ||
Investments in equity method unconsolidated affiliates | 1,479 | 1,060 | |
Total assets | 1,478 | 1,060 | |
Taxes accrued | (1) | (1) | |
Current Liabilities: Other | 4 | 4 | |
Deferred income taxes | 59 | 21 | |
Other Noncurrent Liabilities: Other | 11 | 12 | |
Total liabilities | 73 | 36 | |
Net assets (liabilities) of non-consolidated VIEs | 1,405 | 1,024 | |
VIE, Not Primary Beneficiary | Duke Energy Ohio | |||
Variable Interest Entity [Line Items] | |||
Receivables from affiliated companies | 64 | 93 | |
Total assets | 64 | 93 | |
Net assets (liabilities) of non-consolidated VIEs | 64 | 93 | |
VIE, Not Primary Beneficiary | Duke Energy Indiana | |||
Variable Interest Entity [Line Items] | |||
Receivables from affiliated companies | 77 | 118 | |
Total assets | 77 | 118 | |
Net assets (liabilities) of non-consolidated VIEs | 77 | 118 | |
VIE, Not Primary Beneficiary | Pipeline Investments | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | 1,179 | 822 | |
Total assets | 1,179 | 822 | |
Taxes accrued | (1) | (1) | |
Deferred income taxes | 59 | 21 | |
Total liabilities | 58 | 20 | |
Net assets (liabilities) of non-consolidated VIEs | 1,121 | 802 | |
VIE, Not Primary Beneficiary | Commercial Renewables | |||
Variable Interest Entity [Line Items] | |||
Receivables from affiliated companies | (1) | ||
Investments in equity method unconsolidated affiliates | 300 | 190 | |
Total assets | 299 | 190 | |
Net assets (liabilities) of non-consolidated VIEs | 299 | 190 | |
VIE, Not Primary Beneficiary | Other VIEs | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | 48 | ||
Total assets | 48 | ||
Current Liabilities: Other | 4 | 4 | |
Other Noncurrent Liabilities: Other | 11 | 12 | |
Total liabilities | 15 | 16 | |
Net assets (liabilities) of non-consolidated VIEs | (15) | $ 32 | |
VIE, Not Primary Beneficiary | Pioneer | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 57 | ||
VIE Ownership interest | 50.00% |
Variable Interest Entities (S_3
Variable Interest Entities (Schedule of Non-Consolidated VIE Pipeline Investments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 1,936 | $ 1,409 | $ 1,175 |
VIE, Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 1,479 | 1,060 | |
ACP | VIE, Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
VIE Ownership interest | 47.00% | ||
Investments in equity method unconsolidated affiliates | $ 1,179 | 797 | |
Constitution | VIE, Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
VIE Ownership interest | 24.00% | ||
Investments in equity method unconsolidated affiliates | 25 | ||
Pipeline Investments | VIE, Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 1,179 | 822 | |
Gas Utilities and Infrastructure | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | 1,388 | 1,003 | $ 763 |
Gas Utilities and Infrastructure | Constitution | VIE, Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
OTTI impairment loss | $ 25 | $ 55 |
Variable Interest Entities (Fai
Variable Interest Entities (Fair Value Assumptions) (Details) - CRC - VIE, Not Primary Beneficiary | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Duke Energy Ohio | ||
Variable Interest Entity [Line Items] | ||
Anticipated credit loss ratio | 0.60% | 0.50% |
Discount rate | 3.30% | 3.00% |
Receivable turnover rate | 13.40% | 13.50% |
Duke Energy Indiana | ||
Variable Interest Entity [Line Items] | ||
Anticipated credit loss ratio | 0.30% | 0.30% |
Discount rate | 3.30% | 3.00% |
Receivable turnover rate | 11.50% | 11.00% |
Variable Interest Entities (Rec
Variable Interest Entities (Receivables Sold) (Details) - VIE, Not Primary Beneficiary - CRC - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Duke Energy Ohio | ||
Variable Interest Entity [Line Items] | ||
Receivables sold | $ 253 | $ 269 |
Less: Retained interests | 64 | 93 |
Net receivables sold | 189 | 176 |
Duke Energy Indiana | ||
Variable Interest Entity [Line Items] | ||
Receivables sold | 307 | 336 |
Less: Retained interests | 77 | 118 |
Net receivables sold | $ 230 | $ 218 |
Variable Interest Entities (Sal
Variable Interest Entities (Sales and Cash Flows) (Details) - VIE, Not Primary Beneficiary - CRC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Duke Energy Ohio | |||
Variable Interest Entity [Line Items] | |||
Receivables sold | $ 1,979 | $ 1,987 | $ 1,879 |
Loss recognized on sale | 14 | 13 | 10 |
Cash proceeds from receivables sold | 1,993 | 1,967 | 1,865 |
Collection fees received | 1 | 1 | 1 |
Return received on retained interests | 6 | 6 | 3 |
Duke Energy Indiana | |||
Variable Interest Entity [Line Items] | |||
Receivables sold | 2,837 | 2,842 | 2,711 |
Loss recognized on sale | 17 | 16 | 12 |
Cash proceeds from receivables sold | 2,860 | 2,815 | 2,694 |
Collection fees received | 1 | 1 | 1 |
Return received on retained interests | $ 9 | $ 9 | $ 7 |
Revenue (Remaining Performance
Revenue (Remaining Performance Obligations) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 121 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 92 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 87 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 44 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 45 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 58 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 447 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 8 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 8 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 8 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 8 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 8 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 40 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 113 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 84 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 79 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 36 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 37 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 58 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 407 |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 10 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 5 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 15 |
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 69 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 64 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 64 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 61 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 58 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 372 |
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 688 |
Revenue (Disaggregation of Reve
Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | $ 24,348 | $ 23,757 | |||||||||
Revenue from sources other than contracts with customers | 731 | 764 | |||||||||
Total operating revenues | $ 6,103 | $ 6,940 | $ 5,873 | $ 6,163 | $ 6,115 | $ 6,628 | $ 5,643 | $ 6,135 | 25,079 | 24,521 | $ 23,565 |
Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 1,037 | 1,081 | 1,239 | ||||||||
Electric Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 22,347 | 21,729 | |||||||||
Total operating revenues | 22,798 | 22,242 | 21,300 | ||||||||
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 9,863 | 9,587 | |||||||||
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 6,431 | 6,127 | |||||||||
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 3,071 | 2,974 | |||||||||
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,212 | 2,324 | |||||||||
Electric Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 770 | 717 | |||||||||
Total operating revenues | 855 | 915 | 1,050 | ||||||||
Gas Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,754 | 1,800 | |||||||||
Total operating revenues | 1,770 | 1,783 | 1,743 | ||||||||
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 976 | 1,000 | |||||||||
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 508 | 514 | |||||||||
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 141 | 147 | |||||||||
Gas Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 129 | 139 | |||||||||
Total operating revenues | 84 | 64 | 104 | ||||||||
Commercial Renewables | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 223 | 209 | |||||||||
Total operating revenues | 487 | 477 | 460 | ||||||||
Commercial Renewables | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 98 | 102 | 85 | ||||||||
Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 24 | 19 | |||||||||
Total operating revenues | 24 | 19 | 62 | ||||||||
Duke Energy Carolinas | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 7,241 | 7,108 | |||||||||
Revenue from sources other than contracts with customers | 154 | 192 | |||||||||
Total operating revenues | 1,776 | 2,162 | 1,713 | 1,744 | 1,775 | 2,090 | 1,672 | 1,763 | 7,395 | 7,300 | 7,302 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 7,241 | 7,108 | |||||||||
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 3,044 | 2,981 | |||||||||
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,244 | 2,119 | |||||||||
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,215 | 1,180 | |||||||||
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 462 | 508 | |||||||||
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 276 | 320 | |||||||||
Progress Energy | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 10,883 | 10,462 | |||||||||
Revenue from sources other than contracts with customers | 319 | 266 | |||||||||
Total operating revenues | 2,644 | 3,242 | 2,744 | 2,572 | 2,609 | 3,045 | 2,498 | 2,576 | 11,202 | 10,728 | 9,783 |
Progress Energy | Electric Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 10,883 | 10,462 | |||||||||
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 4,998 | 4,785 | |||||||||
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,935 | 2,809 | |||||||||
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 934 | 904 | |||||||||
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,468 | 1,462 | |||||||||
Progress Energy | Electric Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 548 | 502 | |||||||||
Duke Energy Progress | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 5,785 | 5,564 | |||||||||
Revenue from sources other than contracts with customers | 172 | 135 | |||||||||
Total operating revenues | 1,398 | 1,688 | 1,387 | 1,484 | 1,366 | 1,582 | 1,291 | 1,460 | 5,957 | 5,699 | 5,129 |
Duke Energy Progress | Electric Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 5,785 | 5,564 | |||||||||
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,144 | 2,019 | |||||||||
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,368 | 1,280 | |||||||||
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 675 | 642 | |||||||||
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,281 | 1,303 | |||||||||
Duke Energy Progress | Electric Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 317 | 320 | |||||||||
Duke Energy Florida | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 5,098 | 4,898 | |||||||||
Revenue from sources other than contracts with customers | 133 | 123 | |||||||||
Total operating revenues | 1,244 | 1,548 | 1,353 | 1,086 | 1,241 | 1,462 | 1,203 | 1,115 | 5,231 | 5,021 | 4,646 |
Duke Energy Florida | Electric Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 5,098 | 4,898 | |||||||||
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,854 | 2,766 | |||||||||
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,567 | 1,529 | |||||||||
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 259 | 262 | |||||||||
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 187 | 159 | |||||||||
Duke Energy Florida | Electric Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 231 | 182 | |||||||||
Duke Energy Ohio | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,940 | 1,930 | |||||||||
Revenue from sources other than contracts with customers | 27 | ||||||||||
Total operating revenues | 487 | 489 | 433 | 531 | 505 | 469 | 459 | 524 | 1,940 | 1,957 | 1,923 |
Duke Energy Ohio | Electric Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,457 | 1,426 | |||||||||
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 733 | 743 | |||||||||
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 451 | 422 | |||||||||
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 147 | 131 | |||||||||
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 46 | 57 | |||||||||
Duke Energy Ohio | Electric Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 80 | 73 | |||||||||
Duke Energy Ohio | Gas Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 483 | 503 | |||||||||
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 315 | 331 | |||||||||
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 130 | 135 | |||||||||
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 19 | 18 | |||||||||
Duke Energy Ohio | Gas Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 19 | 19 | |||||||||
Duke Energy Ohio | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1 | ||||||||||
Duke Energy Indiana | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,987 | 3,003 | |||||||||
Revenue from sources other than contracts with customers | 17 | 56 | |||||||||
Total operating revenues | 715 | 807 | 714 | 768 | 771 | 819 | 738 | 731 | 3,004 | 3,059 | 3,047 |
Duke Energy Indiana | Electric Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,987 | 3,003 | |||||||||
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,087 | 1,076 | |||||||||
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 802 | 778 | |||||||||
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 774 | 760 | |||||||||
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 235 | 298 | |||||||||
Duke Energy Indiana | Electric Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 89 | 91 | |||||||||
Piedmont | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,322 | 1,349 | |||||||||
Revenue from sources other than contracts with customers | 59 | 26 | |||||||||
Total operating revenues | $ 425 | $ 168 | $ 209 | $ 579 | $ 435 | $ 172 | $ 215 | $ 553 | 1,381 | 1,375 | $ 1,328 |
Piedmont | Gas Utilities and Infrastructure | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,322 | 1,349 | |||||||||
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 661 | 669 | |||||||||
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 378 | 378 | |||||||||
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 122 | 128 | |||||||||
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 51 | 54 | |||||||||
Piedmont | Gas Utilities and Infrastructure | Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | $ 110 | $ 120 |
Revenue (Unbilled Revenues) (De
Revenue (Unbilled Revenues) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | $ 843 | $ 896 |
Duke Energy Carolinas | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 298 | 313 |
Progress Energy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 217 | 244 |
Duke Energy Progress | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 122 | 148 |
Duke Energy Florida | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 95 | 96 |
Duke Energy Ohio | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 1 | 2 |
Duke Energy Ohio | CRC | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 82 | 86 |
Duke Energy Indiana | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 16 | 23 |
Duke Energy Indiana | CRC | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | 115 | 128 |
Piedmont | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled receivables | $ 78 | $ 73 |
Stockholders' Equity (Earnings
Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity [Abstract] | |||||||||||
Income from continuing operations available to Duke Energy common stockholders excluding impact of participating securities and including accumulated preferred stock dividends | $ 3,694 | $ 2,642 | $ 3,059 | ||||||||
Weighted average common shares outstanding – basic and diluted | 729 | 708 | 700 | ||||||||
EPS from continuing operations available to Duke Energy common stockholders, Basic and diluted (in usd per share) | $ 0.89 | $ 1.82 | $ 1.12 | $ 1.24 | $ 0.62 | $ 1.51 | $ 0.72 | $ 0.88 | $ 5.07 | $ 3.73 | $ 4.37 |
Potentially dilutive items excluded from the calculation(in shares) | 2 | 2 | 2 | ||||||||
Dividends declared per share (usd per share) | $ 3.75 | $ 3.64 | $ 3.49 | ||||||||
Dividends declared on Series A preferred stock per depositary share (in usd per share) | $ 1.03 |
Stockholders' Equity (Common St
Stockholders' Equity (Common Stock) (Details) - USD ($) $ / shares in Units, shares in Thousands | 1 Months Ended | 2 Months Ended | 12 Months Ended | |||||||
Nov. 30, 2019 | Apr. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Feb. 28, 2018 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Forward Contract Indexed to Issuer's Equity [Line Items] | ||||||||||
Maximum value of shares to be issued under ATM program | $ 1,500,000,000 | $ 1,000,000,000 | ||||||||
Shares Issue, Under Net Share Settle Election | 1,600 | |||||||||
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 1,800 | 2,200 | ||||||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | $ 160,000,000 | $ 174,000,000 | ||||||||
ATM | ||||||||||
Forward Contract Indexed to Issuer's Equity [Line Items] | ||||||||||
Shares offered | 1,100 | 1,100 | 1,600 | |||||||
Settlement Alternatives, Shares | 2,600 | 2,600 | ||||||||
Proceeds from Issuance or Sale of Equity | $ 195,000,000 | |||||||||
Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share | $ 85.99 | $ 88.82 | $ 89.83 | $ 86.23 | ||||||
Tranche 1 | ||||||||||
Forward Contract Indexed to Issuer's Equity [Line Items] | ||||||||||
Shares offered | 1,300 | |||||||||
Tranche 2 | ||||||||||
Forward Contract Indexed to Issuer's Equity [Line Items] | ||||||||||
Shares offered | 1,300 | |||||||||
Equity forwards | ||||||||||
Forward Contract Indexed to Issuer's Equity [Line Items] | ||||||||||
Shares offered | 28,750 | 21,300 | ||||||||
Settlement Alternatives, Shares | 21,300 | |||||||||
Proceeds from Issuance or Sale of Equity | $ 766,000,000 | $ 781,000,000 | $ 331,000,000 | |||||||
Shares issued (in shares) | 10,600 | 10,600 | 3,800 | 10,600 |
Stockholders' Equity (Preferred
Stockholders' Equity (Preferred Stock) (Details) - USD ($) $ / shares in Units, $ in Millions | Sep. 16, 2024 | Sep. 12, 2019 | Mar. 29, 2019 | Dec. 31, 2019 | Jun. 15, 2024 | Sep. 30, 2019 | Dec. 31, 2018 |
Class of Stock [Line Items] | |||||||
Net proceeds from Issuance of Preferred Stock and Preference Stock | $ 989 | $ 973 | $ 1,962 | ||||
Current maturities of long-term debt | $ 3,141 | $ 3,406 | |||||
Series A Cumulative Redeemable Perpetual Preferred Stock | |||||||
Class of Stock [Line Items] | |||||||
Shares issued (in shares) | 40,000,000 | ||||||
Preferred stock, issue price (in usd per share) | $ 25 | ||||||
Liquidation preference per share (in usd per share) | $ 25 | ||||||
Cumulative annual dividend rate | 5.75% | ||||||
Redemption price (in usd per share) | $ 25.50 | ||||||
Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock | |||||||
Class of Stock [Line Items] | |||||||
Shares issued (in shares) | 1,000,000 | ||||||
Preferred stock, issue price (in usd per share) | $ 1,000 | ||||||
Liquidation preference per share (in usd per share) | $ 1,000 | ||||||
Cumulative annual dividend rate | 4.875% | ||||||
Redemption price (in usd per share) | $ 1,020 | ||||||
Forecast | |||||||
Class of Stock [Line Items] | |||||||
Redemption price (in usd per share) | $ 25 | ||||||
Forecast | Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock | |||||||
Class of Stock [Line Items] | |||||||
Cumulative annual dividend rate | 3.388% | ||||||
Unsecured Debt | Senior notes due September 2019 | Parent Company | |||||||
Class of Stock [Line Items] | |||||||
Current maturities of long-term debt | $ 500 |
Severance (Narrative) (Details)
Severance (Narrative) (Details) - employee | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |||
Number of eligible employees | 140 | 1,900 | 100 |
Severance (Expenses) (Details)
Severance (Expenses) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | $ 187 | $ 16 | $ 187 | $ 15 |
Duke Energy Carolinas | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | 102 | 8 | 102 | 2 |
Progress Energy | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | 69 | 6 | 69 | 2 |
Duke Energy Progress | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | 52 | 3 | 52 | 1 |
Duke Energy Florida | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | 17 | 3 | 17 | 1 |
Duke Energy Ohio | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | 6 | 6 | ||
Duke Energy Indiana | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | 7 | 1 | 7 | 1 |
Piedmont | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance expense | $ 2 | $ 1 | $ 2 | $ 9 |
Severance (Rollforward) (Detail
Severance (Rollforward) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | $ 205 |
Provision/adjustments | 24 |
Cash reductions | (188) |
Balance, end of period | 41 |
Duke Energy Carolinas | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 100 |
Provision/adjustments | 4 |
Cash reductions | (93) |
Balance, end of period | 11 |
Progress Energy | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 51 |
Provision/adjustments | 11 |
Cash reductions | (49) |
Balance, end of period | 13 |
Duke Energy Progress | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 41 |
Provision/adjustments | 2 |
Cash reductions | (37) |
Balance, end of period | 6 |
Duke Energy Florida | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 9 |
Provision/adjustments | 10 |
Cash reductions | (12) |
Balance, end of period | 7 |
Duke Energy Ohio | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 2 |
Provision/adjustments | 1 |
Cash reductions | (2) |
Balance, end of period | 1 |
Duke Energy Indiana | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 2 |
Provision/adjustments | 1 |
Cash reductions | (1) |
Balance, end of period | $ 2 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) shares in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares reserved for awards to employees and outside directors | 10 | ||
RSU awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total grant date fair value of shares vested | $ 49,000,000 | $ 43,000,000 | $ 42,000,000 |
Unrecognized compensation cost | $ 30,000,000 | ||
Unrecognized compensation cost, period of recognition, years | 23 months | ||
RSU awards | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Performance awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Total grant date fair value of shares vested | $ 23,000,000 | $ 13,000,000 | $ 0 |
Unrecognized compensation cost | $ 27,000,000 | ||
Unrecognized compensation cost, period of recognition, years | 22 months | ||
Risk Free Interest Rate | 2.50% | ||
Expected Volatility Rate | 14.80% | ||
Performance awards | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percent | 200.00% | ||
Piedmont | RSU awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Piedmont | Performance awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | $ 65 | $ 56 | $ 43 |
Pretax stock-based compensation cost | 89 | 78 | 68 |
Stock-based compensation costs capitalized | 5 | 5 | 4 |
Stock-based compensation expense | 84 | 73 | 64 |
Tax benefit associated with stock-based compensation expense | 19 | 17 | 25 |
RSU awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation cost | 44 | 43 | 41 |
Performance awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation cost | 45 | 35 | 27 |
Duke Energy Carolinas | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | 24 | 20 | 15 |
Progress Energy | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | 24 | 21 | 16 |
Duke Energy Progress | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | 15 | 13 | 10 |
Duke Energy Florida | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | 9 | 8 | 6 |
Duke Energy Ohio | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | 5 | 4 | 3 |
Duke Energy Indiana | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | 6 | 5 | 4 |
Piedmont | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total expense recognized | $ 3 | $ 3 | $ 3 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
RSU awards | |||
Schedule Of Shares Awarded [Abstract] | |||
Shares granted (in thousands) | 571 | 649 | 583 |
Fair value (in millions) | $ 51 | $ 49 | $ 47 |
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 | 1,153 | ||
Granted | 571 | 649 | 583 |
Vested | (631) | ||
Forfeited | (83) | ||
Outstanding at end of period | 1,010 | 1,153 | |
Stock awards expected to vest | 951 | ||
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 | $ 77 | ||
Granted | 89 | ||
Vested | 77 | ||
Forfeited | 82 | ||
Weighted average fair value at end of period | 83 | $ 77 | |
Weighted average fair value of awards expected to vest | $ 83 | ||
Performance awards | |||
Schedule Of Shares Awarded [Abstract] | |||
Shares granted (in thousands) | 320 | 372 | 461 |
Fair value (in millions) | $ 27 | $ 27 | $ 37 |
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 | 1,117 | ||
Granted | 320 | 372 | 461 |
Vested | (310) | ||
Forfeited | (18) | ||
Outstanding at end of period | 1,109 | 1,117 | |
Stock awards expected to vest | 1,080 | ||
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 | $ 77 | ||
Granted | 86 | ||
Vested | 75 | ||
Forfeited | 81 | ||
Weighted average fair value at end of period | 80 | $ 77 | |
Weighted average fair value of awards expected to vest | $ 80 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Maximum years of participation | 35 years | |||
Impact of plan conversion on next year's net periodic benefit cost | $ 33 | |||
Master Trust | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target allocation | 100.00% | |||
Expected long-term rate of return on plan assets | 6.85% | |||
Fair value of securities on loan | $ 351 | $ 154 | ||
Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 77 | 141 | $ 19 | |
Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 12 years | |||
Defined Benefit Plan, Benefit Obligation | $ 8,321 | 7,869 | $ 8,448 | |
Accumulated Benefit Obligation at measurement date | $ 8,262 | $ 7,818 | ||
Expected long-term rate of return on plan assets | 6.85% | 6.50% | 6.75% | |
Employer contributions | $ 77 | $ 141 | ||
Benefits paid | 731 | 567 | ||
Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 318 | |||
Accumulated Benefit Obligation at measurement date | 318 | |||
Employer contributions | 25 | |||
Benefits paid | $ 25 | |||
Pension Plan | Master Trust | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Master trust allocation percentage | 98.00% | |||
Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 8 years | |||
Defined Benefit Plan, Benefit Obligation | $ 723 | $ 728 | $ 813 | |
Expected long-term rate of return on plan assets | 6.85% | 6.50% | 6.50% | |
Employer contributions | $ 60 | |||
Benefits paid | $ 83 | $ 86 | ||
Other Post-Retirement Benefit Plans | Master Trust | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Master trust allocation percentage | 2.00% | |||
Duke Energy Carolinas | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 7 | 46 | $ 0 | |
Duke Energy Carolinas | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 12 years | |||
Defined Benefit Plan, Benefit Obligation | $ 1,923 | 1,954 | 2,029 | |
Accumulated Benefit Obligation at measurement date | 1,923 | 1,954 | ||
Employer contributions | 7 | 46 | ||
Benefits paid | 265 | 159 | ||
Duke Energy Carolinas | Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 15 | |||
Accumulated Benefit Obligation at measurement date | 15 | |||
Employer contributions | 2 | |||
Benefits paid | $ 2 | |||
Duke Energy Carolinas | Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 8 years | |||
Defined Benefit Plan, Benefit Obligation | $ 175 | 174 | 189 | |
Employer contributions | 11 | |||
Benefits paid | 19 | 18 | ||
Progress Energy | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 57 | 45 | 0 | |
Progress Energy | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 12 years | |||
Defined Benefit Plan, Benefit Obligation | $ 2,608 | 2,433 | 2,637 | |
Accumulated Benefit Obligation at measurement date | 2,578 | 2,404 | ||
Employer contributions | 57 | 45 | ||
Benefits paid | 191 | 143 | ||
Progress Energy | Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 110 | |||
Accumulated Benefit Obligation at measurement date | 110 | |||
Employer contributions | 9 | |||
Benefits paid | $ 9 | |||
Progress Energy | Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 6 years | |||
Defined Benefit Plan, Benefit Obligation | $ 303 | 303 | 342 | |
Employer contributions | 26 | |||
Benefits paid | 32 | 35 | ||
Duke Energy Progress | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 4 | 25 | 0 | |
Duke Energy Progress | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 13 years | |||
Defined Benefit Plan, Benefit Obligation | $ 1,170 | 1,125 | 1,211 | |
Accumulated Benefit Obligation at measurement date | 1,170 | 1,125 | ||
Employer contributions | 4 | 25 | ||
Benefits paid | 112 | 70 | ||
Duke Energy Progress | Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 32 | |||
Accumulated Benefit Obligation at measurement date | 32 | |||
Employer contributions | 3 | |||
Duke Energy Progress | Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 168 | 166 | 184 | |
Employer contributions | 13 | |||
Benefits paid | 17 | 19 | ||
Duke Energy Florida | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 53 | 20 | 0 | |
Duke Energy Florida | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 12 years | |||
Defined Benefit Plan, Benefit Obligation | $ 1,424 | 1,295 | 1,410 | |
Accumulated Benefit Obligation at measurement date | 1,392 | 1,265 | ||
Employer contributions | 53 | 20 | ||
Benefits paid | 78 | 72 | ||
Duke Energy Florida | Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 45 | |||
Accumulated Benefit Obligation at measurement date | 45 | |||
Employer contributions | 3 | |||
Benefits paid | $ 3 | |||
Duke Energy Florida | Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 7 years | |||
Defined Benefit Plan, Benefit Obligation | $ 135 | 137 | 156 | |
Employer contributions | 13 | |||
Benefits paid | 15 | 16 | ||
Duke Energy Ohio | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 2 | 0 | 4 | |
Duke Energy Ohio | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 13 years | |||
Defined Benefit Plan, Benefit Obligation | $ 481 | 435 | 479 | |
Accumulated Benefit Obligation at measurement date | 471 | 425 | ||
Employer contributions | 2 | 0 | ||
Benefits paid | 30 | 37 | ||
Duke Energy Ohio | Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 4 | |||
Accumulated Benefit Obligation at measurement date | 4 | |||
Benefits paid | $ 3 | |||
Duke Energy Ohio | Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 7 years | |||
Defined Benefit Plan, Benefit Obligation | $ 29 | 29 | 30 | |
Employer contributions | 2 | |||
Benefits paid | 3 | 2 | ||
Duke Energy Indiana | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 2 | 8 | 0 | |
Duke Energy Indiana | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 13 years | |||
Defined Benefit Plan, Benefit Obligation | $ 693 | 618 | 669 | |
Accumulated Benefit Obligation at measurement date | 686 | 614 | ||
Employer contributions | 2 | 8 | ||
Benefits paid | 46 | 55 | ||
Duke Energy Indiana | Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 3 | |||
Accumulated Benefit Obligation at measurement date | $ 3 | |||
Duke Energy Indiana | Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 6 years | |||
Defined Benefit Plan, Benefit Obligation | $ 64 | 67 | 78 | |
Employer contributions | 9 | |||
Benefits paid | $ 11 | 12 | ||
Piedmont | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Vesting period | 3 years | |||
Term | 3 years | |||
Piedmont | Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 1 | 0 | 11 | |
Piedmont | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 9 years | |||
Defined Benefit Plan, Benefit Obligation | $ 292 | 264 | 313 | |
Accumulated Benefit Obligation at measurement date | 292 | 264 | ||
Employer contributions | 1 | 0 | ||
Benefits paid | 20 | 33 | ||
Piedmont | Pension Plan | Nonqualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | 4 | |||
Accumulated Benefit Obligation at measurement date | $ 4 | |||
Piedmont | Other Post-Retirement Benefit Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Average remaining service period, in years | 6 years | |||
Defined Benefit Plan, Benefit Obligation | $ 30 | 30 | $ 32 | |
Employer contributions | 0 | |||
Benefits paid | 1 | $ 2 | ||
Liability Hedging Assets | Pension Plan | Master Trust | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target allocation | 58.00% | |||
Return Seeking Assets | Pension Plan | Master Trust | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target allocation | 42.00% | |||
Minimum | Pension Plan | Qualified Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 6.50% | |||
Retirement plan settled | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | 94 | |||
Retirement plan settled | Duke Energy Carolinas | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | 53 | |||
Retirement plan settled | Progress Energy | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | 26 | |||
Retirement plan settled | Duke Energy Progress | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | 20 | |||
Retirement plan settled | Duke Energy Florida | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | 6 | |||
Retirement plan settled | Duke Energy Ohio | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | 2 | |||
Retirement plan settled | Duke Energy Indiana | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | 4 | |||
Retirement plan settled | Piedmont | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charges | $ 8 |
Employee Benefit Plans (Contrib
Employee Benefit Plans (Contributions to Defined Benefit Pension Plans) (Details) - Pension Plan - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 77 | $ 141 | $ 19 |
Duke Energy Carolinas | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 7 | 46 | 0 |
Progress Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 57 | 45 | 0 |
Duke Energy Progress | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 4 | 25 | 0 |
Duke Energy Florida | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 53 | 20 | 0 |
Duke Energy Ohio | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 2 | 0 | 4 |
Duke Energy Indiana | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 2 | 8 | 0 |
Piedmont | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 1 | $ 0 | $ 11 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Amortization of Regulatory Asset | $ 4 | $ 5 | $ 7 |
Pension Plan | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 158 | 182 | |
Service cost | 150 | 174 | 159 |
Interest cost | 317 | 299 | 328 |
Expected return on plan assets | (567) | (559) | (545) |
Amortization of actuarial loss (gain) | 108 | 132 | 146 |
Amortization of prior service cost (credit) | (32) | (32) | (24) |
Settlement charge | 12 | ||
Other | 6 | 8 | |
Net periodic costs | (10) | 22 | 84 |
Pension Plan | Duke Energy Carolinas | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 49 | 58 | |
Service cost | 47 | 56 | 48 |
Interest cost | 75 | 72 | 79 |
Expected return on plan assets | (147) | (147) | (142) |
Amortization of actuarial loss (gain) | 24 | 29 | 31 |
Amortization of prior service cost (credit) | (8) | (8) | (8) |
Settlement charge | 0 | ||
Other | 2 | 2 | |
Net periodic costs | (5) | 4 | 10 |
Pension Plan | Progress Energy | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 46 | 51 | |
Service cost | 43 | 49 | 45 |
Interest cost | 100 | 94 | 100 |
Expected return on plan assets | (178) | (178) | (167) |
Amortization of actuarial loss (gain) | 39 | 44 | 52 |
Amortization of prior service cost (credit) | (3) | (3) | (3) |
Settlement charge | 0 | ||
Other | 1 | 2 | |
Net periodic costs | 5 | 8 | 29 |
Pension Plan | Duke Energy Progress | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 26 | 29 | |
Service cost | 25 | 28 | 26 |
Interest cost | 45 | 43 | 47 |
Expected return on plan assets | (88) | (85) | (82) |
Amortization of actuarial loss (gain) | 15 | 21 | 23 |
Amortization of prior service cost (credit) | (2) | (2) | (2) |
Settlement charge | 0 | ||
Other | 1 | 1 | |
Net periodic costs | (3) | 6 | 13 |
Pension Plan | Duke Energy Florida | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 20 | 22 | |
Service cost | 18 | 21 | 19 |
Interest cost | 54 | 50 | 53 |
Expected return on plan assets | (89) | (91) | (85) |
Amortization of actuarial loss (gain) | 24 | 23 | 29 |
Amortization of prior service cost (credit) | (1) | (1) | (1) |
Settlement charge | 0 | ||
Other | 0 | 1 | |
Net periodic costs | 8 | 3 | 16 |
Pension Plan | Duke Energy Ohio | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Amortization of Regulatory Asset | 2 | 2 | 3 |
Pension Plan | Duke Energy Ohio | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 4 | 5 | |
Service cost | 4 | 5 | 4 |
Interest cost | 18 | 17 | 18 |
Expected return on plan assets | (28) | (28) | (27) |
Amortization of actuarial loss (gain) | 4 | 5 | 5 |
Amortization of prior service cost (credit) | 0 | 0 | (1) |
Settlement charge | 0 | ||
Other | 2 | 0 | |
Net periodic costs | 0 | (1) | (1) |
Pension Plan | Duke Energy Indiana | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 9 | 11 | |
Service cost | 8 | 10 | 9 |
Interest cost | 26 | 23 | 26 |
Expected return on plan assets | (43) | (42) | (42) |
Amortization of actuarial loss (gain) | 8 | 10 | 12 |
Amortization of prior service cost (credit) | (2) | (2) | (2) |
Settlement charge | 0 | ||
Other | 0 | 1 | |
Net periodic costs | (2) | 0 | 4 |
Pension Plan | Piedmont | Qualified Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 5 | 7 | |
Service cost | 5 | 7 | 10 |
Interest cost | 10 | 11 | 14 |
Expected return on plan assets | (22) | (22) | (24) |
Amortization of actuarial loss (gain) | 8 | 11 | 11 |
Amortization of prior service cost (credit) | (9) | (10) | (2) |
Settlement charge | 12 | ||
Other | 0 | 1 | |
Net periodic costs | (8) | (3) | 22 |
Other Post-Retirement Benefit Plans | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 4 | 6 | 4 |
Interest cost | 30 | 28 | 34 |
Expected return on plan assets | (12) | (13) | (14) |
Amortization of actuarial loss (gain) | 4 | 6 | 10 |
Amortization of prior service cost (credit) | (19) | (19) | (115) |
Curtailment credit | (30) | ||
Net periodic costs | 7 | 8 | (111) |
Amortization of Regulatory Asset | 6 | 7 | 7 |
Other Post-Retirement Benefit Plans | Duke Energy Carolinas | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 1 | 1 | 1 |
Interest cost | 7 | 7 | 8 |
Expected return on plan assets | (7) | (8) | (8) |
Amortization of actuarial loss (gain) | 2 | 3 | (2) |
Amortization of prior service cost (credit) | (5) | (5) | (10) |
Curtailment credit | (4) | ||
Net periodic costs | (2) | (2) | (15) |
Other Post-Retirement Benefit Plans | Progress Energy | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 1 | 1 | 0 |
Interest cost | 12 | 12 | 13 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of actuarial loss (gain) | 1 | 1 | 21 |
Amortization of prior service cost (credit) | (8) | (8) | (84) |
Curtailment credit | (16) | ||
Net periodic costs | 6 | 6 | (66) |
Other Post-Retirement Benefit Plans | Duke Energy Progress | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 0 | 0 | 0 |
Interest cost | 7 | 6 | 7 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of actuarial loss (gain) | 0 | 1 | 12 |
Amortization of prior service cost (credit) | (1) | (1) | (54) |
Net periodic costs | 6 | 6 | (35) |
Other Post-Retirement Benefit Plans | Duke Energy Florida | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 1 | 1 | 0 |
Interest cost | 5 | 6 | 6 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of actuarial loss (gain) | 1 | 0 | 9 |
Amortization of prior service cost (credit) | (7) | (7) | (30) |
Curtailment credit | (16) | ||
Net periodic costs | 0 | 0 | (31) |
Other Post-Retirement Benefit Plans | Duke Energy Ohio | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 0 | 1 | 0 |
Interest cost | 1 | 1 | 1 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of actuarial loss (gain) | 0 | 0 | (2) |
Amortization of prior service cost (credit) | (1) | (1) | 0 |
Curtailment credit | (2) | ||
Net periodic costs | 0 | 1 | (3) |
Amortization of Regulatory Asset | 2 | 2 | 2 |
Other Post-Retirement Benefit Plans | Duke Energy Indiana | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 1 | 1 | 0 |
Interest cost | 3 | 3 | 3 |
Expected return on plan assets | 0 | 0 | (1) |
Amortization of actuarial loss (gain) | 4 | 4 | (1) |
Amortization of prior service cost (credit) | (1) | (1) | (1) |
Curtailment credit | (2) | ||
Net periodic costs | 7 | 7 | (2) |
Other Post-Retirement Benefit Plans | Piedmont | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 0 | 1 | 1 |
Interest cost | 1 | 1 | 1 |
Expected return on plan assets | (1) | (2) | (2) |
Amortization of actuarial loss (gain) | 0 | 0 | 1 |
Amortization of prior service cost (credit) | (2) | (2) | 0 |
Curtailment credit | 0 | ||
Net periodic costs | $ (2) | $ (2) | $ 1 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive income | [1] | $ (9) | $ 6 | $ (3) |
Progress Energy | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Net amount recognized in accumulated other comprehensive income | (2) | (5) | $ (4) | |
Pension Plan | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (212) | 298 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 20 | (2) | ||
Amortization of prior year service credit | 1 | 1 | ||
Amortization of prior year actuarial losses | (15) | 10 | ||
Net amount recognized in accumulated other comprehensive income | 6 | 9 | ||
Pension Plan | Duke Energy Carolinas | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (156) | 170 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year service credit | 0 | 0 | ||
Amortization of prior year actuarial losses | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Pension Plan | Progress Energy | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (79) | 40 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 1 | 1 | ||
Amortization of prior year service credit | 0 | 0 | ||
Amortization of prior year actuarial losses | (2) | (4) | ||
Net amount recognized in accumulated other comprehensive income | (1) | (3) | ||
Pension Plan | Duke Energy Progress | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (59) | 31 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year service credit | 0 | 0 | ||
Amortization of prior year actuarial losses | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Pension Plan | Duke Energy Florida | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (20) | 9 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | (1) | 0 | ||
Amortization of prior year service credit | 0 | 0 | ||
Amortization of prior year actuarial losses | 3 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 2 | 0 | ||
Pension Plan | Duke Energy Ohio | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 12 | 10 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year service credit | 0 | 0 | ||
Amortization of prior year actuarial losses | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Pension Plan | Duke Energy Indiana | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 22 | 30 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year service credit | 0 | 0 | ||
Amortization of prior year actuarial losses | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Pension Plan | Piedmont | Qualified Plan | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 0 | 8 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year service credit | 0 | 0 | ||
Amortization of prior year actuarial losses | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Other Post-Retirement Benefit Plans | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (127) | 137 | ||
Accumulated other comprehensive loss (income) | (152) | 154 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | (1) | ||
Amortization of prior year prior service cost | (4) | 1 | ||
Net amount recognized in accumulated other comprehensive income | (4) | 0 | ||
Other Post-Retirement Benefit Plans | Duke Energy Carolinas | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 0 | 0 | ||
Accumulated other comprehensive loss (income) | 1 | (6) | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year prior service cost | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Other Post-Retirement Benefit Plans | Progress Energy | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (127) | 133 | ||
Accumulated other comprehensive loss (income) | (149) | 149 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year prior service cost | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Other Post-Retirement Benefit Plans | Duke Energy Progress | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (82) | 84 | ||
Accumulated other comprehensive loss (income) | (93) | 93 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year prior service cost | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Other Post-Retirement Benefit Plans | Duke Energy Florida | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (45) | 49 | ||
Accumulated other comprehensive loss (income) | (56) | 56 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year prior service cost | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Other Post-Retirement Benefit Plans | Duke Energy Ohio | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 0 | 0 | ||
Accumulated other comprehensive loss (income) | (1) | 2 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year prior service cost | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Other Post-Retirement Benefit Plans | Duke Energy Indiana | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | (5) | (5) | ||
Accumulated other comprehensive loss (income) | (4) | 3 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year prior service cost | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | 0 | 0 | ||
Other Post-Retirement Benefit Plans | Piedmont | ||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||
Regulatory assets, net increase (decrease) | 0 | 4 | ||
Accumulated other comprehensive loss (income) | 3 | 0 | ||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||
Deferred income tax expense (benefit) | 0 | 0 | ||
Amortization of prior year prior service cost | 0 | 0 | ||
Net amount recognized in accumulated other comprehensive income | $ 0 | $ 0 | ||
[1] | Tax impacts are insignificant for all periods presented. |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Plan | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | $ 77 | $ 141 | $ 19 |
Pension Plan | Duke Energy Carolinas | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | 7 | 46 | 0 |
Pension Plan | Progress Energy | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | 57 | 45 | 0 |
Pension Plan | Duke Energy Progress | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | 4 | 25 | 0 |
Pension Plan | Duke Energy Florida | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | 53 | 20 | 0 |
Pension Plan | Duke Energy Ohio | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | 2 | 0 | 4 |
Pension Plan | Duke Energy Indiana | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | 2 | 8 | 0 |
Pension Plan | Piedmont | |||
Change in Fair Value of Plan Assets [Rollforward] | |||
Employer contributions | 1 | 0 | 11 |
Pension Plan | Qualified Plan | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 7,869 | 8,448 | |
Service cost | 150 | 174 | 159 |
Interest cost | 317 | 299 | 328 |
Actuarial loss (gain) | 716 | (485) | |
Transfers | 0 | 0 | |
Benefits paid | (731) | (567) | |
Obligation at measurement date | 8,321 | 7,869 | 8,448 |
Accumulated Benefit Obligation at measurement date | 8,262 | 7,818 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 8,233 | 9,003 | |
Employer contributions | 77 | 141 | |
Actual return on plan assets | 1,331 | (344) | |
Benefits paid | (731) | (567) | |
Transfers | 0 | 0 | |
Plan assets at measurement date | 8,910 | 8,233 | 9,003 |
Funded status of plan | 589 | 364 | |
Pension Plan | Qualified Plan | Duke Energy Carolinas | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,954 | 2,029 | |
Service cost | 47 | 56 | 48 |
Interest cost | 75 | 72 | 79 |
Actuarial loss (gain) | 101 | (44) | |
Transfers | 11 | 0 | |
Benefits paid | (265) | (159) | |
Obligation at measurement date | 1,923 | 1,954 | 2,029 |
Accumulated Benefit Obligation at measurement date | 1,923 | 1,954 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 2,168 | 2,372 | |
Employer contributions | 7 | 46 | |
Actual return on plan assets | 342 | (91) | |
Benefits paid | (265) | (159) | |
Transfers | 11 | 0 | |
Plan assets at measurement date | 2,263 | 2,168 | 2,372 |
Funded status of plan | 340 | 214 | |
Pension Plan | Qualified Plan | Progress Energy | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 2,433 | 2,637 | |
Service cost | 43 | 49 | 45 |
Interest cost | 100 | 94 | 100 |
Actuarial loss (gain) | 223 | (204) | |
Transfers | 0 | 0 | |
Benefits paid | (191) | (143) | |
Obligation at measurement date | 2,608 | 2,433 | 2,637 |
Accumulated Benefit Obligation at measurement date | 2,578 | 2,404 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 2,606 | 2,814 | |
Employer contributions | 57 | 45 | |
Actual return on plan assets | 426 | (110) | |
Benefits paid | (191) | (143) | |
Transfers | 0 | 0 | |
Plan assets at measurement date | 2,898 | 2,606 | 2,814 |
Funded status of plan | 290 | 173 | |
Pension Plan | Qualified Plan | Duke Energy Progress | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,125 | 1,211 | |
Service cost | 25 | 28 | 26 |
Interest cost | 45 | 43 | 47 |
Actuarial loss (gain) | 87 | (87) | |
Transfers | 0 | 0 | |
Benefits paid | (112) | (70) | |
Obligation at measurement date | 1,170 | 1,125 | 1,211 |
Accumulated Benefit Obligation at measurement date | 1,170 | 1,125 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 1,268 | 1,366 | |
Employer contributions | 4 | 25 | |
Actual return on plan assets | 204 | (53) | |
Benefits paid | (112) | (70) | |
Transfers | 0 | 0 | |
Plan assets at measurement date | 1,364 | 1,268 | 1,366 |
Funded status of plan | 194 | 143 | |
Pension Plan | Qualified Plan | Duke Energy Florida | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,295 | 1,410 | |
Service cost | 18 | 21 | 19 |
Interest cost | 54 | 50 | 53 |
Actuarial loss (gain) | 135 | (114) | |
Transfers | 0 | 0 | |
Benefits paid | (78) | (72) | |
Obligation at measurement date | 1,424 | 1,295 | 1,410 |
Accumulated Benefit Obligation at measurement date | 1,392 | 1,265 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 1,322 | 1,429 | |
Employer contributions | 53 | 20 | |
Actual return on plan assets | 218 | (55) | |
Benefits paid | (78) | (72) | |
Transfers | 0 | 0 | |
Plan assets at measurement date | 1,515 | 1,322 | 1,429 |
Funded status of plan | 91 | 27 | |
Pension Plan | Qualified Plan | Duke Energy Ohio | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 435 | 479 | |
Service cost | 4 | 5 | 4 |
Interest cost | 18 | 17 | 18 |
Actuarial loss (gain) | 54 | (29) | |
Transfers | 0 | 0 | |
Benefits paid | (30) | (37) | |
Obligation at measurement date | 481 | 435 | 479 |
Accumulated Benefit Obligation at measurement date | 471 | 425 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 405 | 458 | |
Employer contributions | 2 | 0 | |
Actual return on plan assets | 66 | (16) | |
Benefits paid | (30) | (37) | |
Transfers | 0 | 0 | |
Plan assets at measurement date | 443 | 405 | 458 |
Funded status of plan | (38) | (30) | |
Pension Plan | Qualified Plan | Duke Energy Indiana | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 618 | 669 | |
Service cost | 8 | 10 | 9 |
Interest cost | 26 | 23 | 26 |
Actuarial loss (gain) | 87 | (29) | |
Transfers | 0 | 0 | |
Benefits paid | (46) | (55) | |
Obligation at measurement date | 693 | 618 | 669 |
Accumulated Benefit Obligation at measurement date | 686 | 614 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 611 | 684 | |
Employer contributions | 2 | 8 | |
Actual return on plan assets | 100 | (26) | |
Benefits paid | (46) | (55) | |
Transfers | 0 | 0 | |
Plan assets at measurement date | 667 | 611 | 684 |
Funded status of plan | (26) | (7) | |
Pension Plan | Qualified Plan | Piedmont | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 264 | 313 | |
Service cost | 5 | 7 | 10 |
Interest cost | 10 | 11 | 14 |
Actuarial loss (gain) | 33 | (18) | |
Transfers | 0 | (16) | |
Benefits paid | (20) | (33) | |
Obligation at measurement date | 292 | 264 | 313 |
Accumulated Benefit Obligation at measurement date | 292 | 264 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 305 | 368 | |
Employer contributions | 1 | 0 | |
Actual return on plan assets | 49 | (14) | |
Benefits paid | (20) | (33) | |
Transfers | 0 | (16) | |
Plan assets at measurement date | 335 | 305 | 368 |
Funded status of plan | 43 | 41 | |
Other Post-Retirement Benefit Plans | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 728 | 813 | |
Service cost | 4 | 6 | 4 |
Interest cost | 30 | 28 | 34 |
Plan participants' contributions | 16 | 18 | |
Actuarial loss (gain) | 28 | (51) | |
Transfers | 0 | 0 | |
Benefits paid | (83) | (86) | |
Obligation at measurement date | 723 | 728 | 813 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 195 | 225 | |
Employer contributions | 60 | ||
Actual return on plan assets | 32 | (8) | |
Benefits paid | (83) | (86) | |
Employer contributions (reimbursements) | 46 | ||
Plan participants' contributions | 16 | 18 | |
Plan assets at measurement date | 220 | 195 | 225 |
Funded status of plan | (503) | (533) | |
Other Post-Retirement Benefit Plans | Duke Energy Carolinas | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 174 | 189 | |
Service cost | 1 | 1 | 1 |
Interest cost | 7 | 7 | 8 |
Plan participants' contributions | 3 | 3 | |
Actuarial loss (gain) | 9 | (8) | |
Transfers | 0 | 0 | |
Benefits paid | (19) | (18) | |
Obligation at measurement date | 175 | 174 | 189 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 115 | 133 | |
Employer contributions | 11 | ||
Actual return on plan assets | 20 | (5) | |
Benefits paid | (19) | (18) | |
Employer contributions (reimbursements) | 2 | ||
Plan participants' contributions | 3 | 3 | |
Plan assets at measurement date | 130 | 115 | 133 |
Funded status of plan | (45) | (59) | |
Other Post-Retirement Benefit Plans | Progress Energy | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 303 | 342 | |
Service cost | 1 | 1 | 0 |
Interest cost | 12 | 12 | 13 |
Plan participants' contributions | 6 | 6 | |
Actuarial loss (gain) | 13 | (23) | |
Transfers | 0 | 0 | |
Benefits paid | (32) | (35) | |
Obligation at measurement date | 303 | 303 | 342 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 0 | 0 | |
Employer contributions | 26 | ||
Actual return on plan assets | (1) | 0 | |
Benefits paid | (32) | (35) | |
Employer contributions (reimbursements) | 29 | ||
Plan participants' contributions | 6 | 6 | |
Plan assets at measurement date | (1) | 0 | 0 |
Funded status of plan | (304) | (303) | |
Other Post-Retirement Benefit Plans | Duke Energy Progress | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 166 | 184 | |
Service cost | 0 | 0 | 0 |
Interest cost | 7 | 6 | 7 |
Plan participants' contributions | 3 | 4 | |
Actuarial loss (gain) | 9 | (9) | |
Transfers | 0 | 0 | |
Benefits paid | (17) | (19) | |
Obligation at measurement date | 168 | 166 | 184 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 0 | 0 | |
Employer contributions | 13 | ||
Actual return on plan assets | 0 | 0 | |
Benefits paid | (17) | (19) | |
Employer contributions (reimbursements) | 15 | ||
Plan participants' contributions | 3 | 4 | |
Plan assets at measurement date | (1) | 0 | 0 |
Funded status of plan | (169) | (166) | |
Other Post-Retirement Benefit Plans | Duke Energy Florida | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 137 | 156 | |
Service cost | 1 | 1 | 0 |
Interest cost | 5 | 6 | 6 |
Plan participants' contributions | 2 | 3 | |
Actuarial loss (gain) | 5 | (13) | |
Transfers | 0 | 0 | |
Benefits paid | (15) | (16) | |
Obligation at measurement date | 135 | 137 | 156 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 0 | 0 | |
Employer contributions | 13 | ||
Actual return on plan assets | 0 | 0 | |
Benefits paid | (15) | (16) | |
Employer contributions (reimbursements) | 13 | ||
Plan participants' contributions | 2 | 3 | |
Plan assets at measurement date | 0 | 0 | 0 |
Funded status of plan | (135) | (137) | |
Other Post-Retirement Benefit Plans | Duke Energy Ohio | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 29 | 30 | |
Service cost | 0 | 1 | 0 |
Interest cost | 1 | 1 | 1 |
Plan participants' contributions | 1 | 1 | |
Actuarial loss (gain) | 1 | (2) | |
Transfers | 0 | 0 | |
Benefits paid | (3) | (2) | |
Obligation at measurement date | 29 | 29 | 30 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 8 | 7 | |
Employer contributions | 2 | ||
Actual return on plan assets | 1 | 0 | |
Benefits paid | (3) | (2) | |
Employer contributions (reimbursements) | 2 | ||
Plan participants' contributions | 1 | 1 | |
Plan assets at measurement date | 9 | 8 | 7 |
Funded status of plan | (20) | (21) | |
Other Post-Retirement Benefit Plans | Duke Energy Indiana | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 67 | 78 | |
Service cost | 1 | 1 | 0 |
Interest cost | 3 | 3 | 3 |
Plan participants' contributions | 2 | 2 | |
Actuarial loss (gain) | 2 | (5) | |
Transfers | 0 | 0 | |
Benefits paid | (11) | (12) | |
Obligation at measurement date | 64 | 67 | 78 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 5 | 11 | |
Employer contributions | 9 | ||
Actual return on plan assets | 0 | 0 | |
Benefits paid | (11) | (12) | |
Employer contributions (reimbursements) | 4 | ||
Plan participants' contributions | 2 | 2 | |
Plan assets at measurement date | 5 | 5 | 11 |
Funded status of plan | (59) | (62) | |
Other Post-Retirement Benefit Plans | Piedmont | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 30 | 32 | |
Service cost | 0 | 1 | 1 |
Interest cost | 1 | 1 | 1 |
Plan participants' contributions | 0 | 0 | |
Actuarial loss (gain) | 0 | (1) | |
Transfers | 0 | (1) | |
Benefits paid | (1) | (2) | |
Obligation at measurement date | 30 | 30 | 32 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 29 | 31 | |
Employer contributions | 0 | ||
Actual return on plan assets | 6 | (1) | |
Benefits paid | (1) | (2) | |
Employer contributions (reimbursements) | 1 | ||
Plan participants' contributions | 0 | 0 | |
Plan assets at measurement date | 34 | 29 | $ 31 |
Funded status of plan | $ 4 | $ (1) |
Employee Benefit Plans (Amoun_2
Employee Benefit Plans (Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | $ 934 | $ 988 |
Regulatory assets | 15,018 | 15,622 |
Regulatory liabilities | 16,048 | 15,432 |
Duke Energy Carolinas | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 84 | 99 |
Regulatory assets | 3,910 | 3,977 |
Regulatory liabilities | 6,678 | 6,198 |
Progress Energy | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 488 | 521 |
Regulatory assets | 7,292 | 7,701 |
Regulatory liabilities | 5,555 | 5,329 |
Duke Energy Progress | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 238 | 237 |
Regulatory assets | 4,678 | 4,814 |
Regulatory liabilities | 4,468 | 4,133 |
Duke Energy Florida | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 218 | 254 |
Regulatory assets | 2,613 | 2,888 |
Regulatory liabilities | 1,087 | 1,196 |
Duke Energy Ohio | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 100 | 79 |
Regulatory assets | 598 | 564 |
Regulatory liabilities | 827 | 897 |
Duke Energy Indiana | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 148 | 115 |
Regulatory assets | 1,172 | 1,157 |
Regulatory liabilities | 1,740 | 1,747 |
Piedmont | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 3 | 4 |
Regulatory assets | 363 | 357 |
Regulatory liabilities | 1,212 | 1,218 |
Pension Plan | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 621 | 433 |
Noncurrent pension liability | 32 | 69 |
Net amount recognized | 589 | 364 |
Regulatory assets | 1,972 | 2,184 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | (23) | (43) |
Prior year service cost (credit) arising during the year | (3) | (4) |
Net actuarial loss (gain) | 111 | 126 |
Net amount recognized in accumulated other comprehensive income (loss) | 85 | 79 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 135 | 97 |
Unrecognized prior service (credit) cost | (32) | (32) |
Pension Plan | Duke Energy Carolinas | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 340 | 214 |
Noncurrent pension liability | 0 | 0 |
Net amount recognized | 340 | 214 |
Regulatory assets | 420 | 576 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 29 | 22 |
Unrecognized prior service (credit) cost | (8) | (8) |
Pension Plan | Progress Energy | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 322 | 242 |
Noncurrent pension liability | 32 | 69 |
Net amount recognized | 290 | 173 |
Regulatory assets | 717 | 796 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | (1) | (2) |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 3 | 5 |
Net amount recognized in accumulated other comprehensive income (loss) | 2 | 3 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 43 | 37 |
Unrecognized prior service (credit) cost | (3) | (3) |
Pension Plan | Duke Energy Progress | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 194 | 143 |
Noncurrent pension liability | 0 | 0 |
Net amount recognized | 194 | 143 |
Regulatory assets | 313 | 372 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 19 | 13 |
Unrecognized prior service (credit) cost | (2) | (2) |
Pension Plan | Duke Energy Florida | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 123 | 96 |
Noncurrent pension liability | 32 | 69 |
Net amount recognized | 91 | 27 |
Regulatory assets | 404 | 424 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | (1) | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 3 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 2 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 24 | 24 |
Unrecognized prior service (credit) cost | (1) | (1) |
Pension Plan | Duke Energy Ohio | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 38 | 24 |
Noncurrent pension liability | 76 | 54 |
Net amount recognized | (38) | (30) |
Regulatory assets | 112 | 100 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 7 | 3 |
Unrecognized prior service (credit) cost | (1) | 0 |
Pension Plan | Duke Energy Indiana | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 57 | 39 |
Noncurrent pension liability | 83 | 46 |
Net amount recognized | (26) | (7) |
Regulatory assets | 204 | 182 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 10 | 5 |
Unrecognized prior service (credit) cost | (2) | (2) |
Pension Plan | Piedmont | Qualified Plan | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 43 | 41 |
Noncurrent pension liability | 0 | 0 |
Net amount recognized | 43 | 41 |
Regulatory assets | 81 | 81 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 9 | 7 |
Unrecognized prior service (credit) cost | (9) | (9) |
Other Post-Retirement Benefit Plans | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 9 | 8 |
Noncurrent pension liability | 494 | 525 |
Total accrued pension liability | 503 | 533 |
Regulatory assets | 135 | 262 |
Regulatory liabilities | 149 | 301 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 3 | 3 |
Prior year service cost (credit) arising during the year | (2) | (2) |
Net actuarial loss (gain) | (13) | (9) |
Net amount recognized in accumulated other comprehensive income (loss) | (12) | (8) |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 5 | 4 |
Unrecognized prior service (credit) cost | (14) | (19) |
Other Post-Retirement Benefit Plans | Duke Energy Carolinas | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 0 | 0 |
Noncurrent pension liability | 45 | 59 |
Total accrued pension liability | 45 | 59 |
Regulatory assets | 0 | 0 |
Regulatory liabilities | 39 | 38 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 3 | 2 |
Unrecognized prior service (credit) cost | (4) | (5) |
Other Post-Retirement Benefit Plans | Progress Energy | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 5 | 5 |
Noncurrent pension liability | 299 | 298 |
Total accrued pension liability | 304 | 303 |
Regulatory assets | 135 | 262 |
Regulatory liabilities | 0 | 149 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 1 | 1 |
Unrecognized prior service (credit) cost | (3) | (7) |
Other Post-Retirement Benefit Plans | Duke Energy Progress | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 3 | 3 |
Noncurrent pension liability | 166 | 163 |
Total accrued pension liability | 169 | 166 |
Regulatory assets | 82 | 164 |
Regulatory liabilities | 0 | 93 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 0 | 0 |
Unrecognized prior service (credit) cost | (1) | (1) |
Other Post-Retirement Benefit Plans | Duke Energy Florida | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 2 | 2 |
Noncurrent pension liability | 133 | 135 |
Total accrued pension liability | 135 | 137 |
Regulatory assets | 53 | 98 |
Regulatory liabilities | 0 | 56 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 1 | 0 |
Unrecognized prior service (credit) cost | (2) | (6) |
Other Post-Retirement Benefit Plans | Duke Energy Ohio | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 1 | 2 |
Noncurrent pension liability | 19 | 19 |
Total accrued pension liability | 20 | 21 |
Regulatory assets | 0 | 0 |
Regulatory liabilities | 17 | 18 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 0 | 0 |
Unrecognized prior service (credit) cost | (1) | (1) |
Other Post-Retirement Benefit Plans | Duke Energy Indiana | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 0 | 0 |
Noncurrent pension liability | 59 | 62 |
Total accrued pension liability | 59 | 62 |
Regulatory assets | 36 | 41 |
Regulatory liabilities | 63 | 67 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 0 | 0 |
Unrecognized prior service (credit) cost | (1) | (1) |
Other Post-Retirement Benefit Plans | Piedmont | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 0 | 0 |
Noncurrent pension liability | (4) | 1 |
Total accrued pension liability | (4) | 1 |
Regulatory assets | 0 | 0 |
Regulatory liabilities | 3 | 0 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 0 | 0 |
Prior year service cost (credit) arising during the year | 0 | 0 |
Net actuarial loss (gain) | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) | 0 | 0 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 0 | 0 |
Unrecognized prior service (credit) cost | $ (2) | $ (2) |
Employee Benefit Plans (Informa
Employee Benefit Plans (Information For Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - Pension Plan - Qualified Plan - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | $ 679 | |
Accumulated benefit obligation | 651 | |
Fair value of plan assets | 610 | |
Progress Energy | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 679 | |
Accumulated benefit obligation | 651 | |
Fair value of plan assets | 610 | |
Duke Energy Florida | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 679 | |
Accumulated benefit obligation | 651 | |
Fair value of plan assets | 610 | |
Duke Energy Ohio | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | $ 155 | 123 |
Accumulated benefit obligation | 146 | 115 |
Fair value of plan assets | 79 | 69 |
Duke Energy Indiana | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 260 | 203 |
Accumulated benefit obligation | 252 | 199 |
Fair value of plan assets | $ 177 | $ 159 |
Employee Benefit Plans (Assumpt
Employee Benefit Plans (Assumptions Used For Pension Benefits Accounting) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Plan | Qualified Plan | |||
Benefit Obligations [Abstract] | |||
Discount rate | 3.30% | 4.30% | 3.60% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.30% | 3.60% | 4.10% |
Expected long-term rate of return on plan assets | 6.85% | 6.50% | 6.75% |
Pension Plan | Minimum | Qualified Plan | |||
Benefit Obligations [Abstract] | |||
Salary increase | 3.50% | 3.50% | 3.50% |
Net Periodic Benefit Cost [Abstract] | |||
Salary increase | 3.50% | 3.50% | 4.00% |
Expected long-term rate of return on plan assets | 6.50% | ||
Pension Plan | Maximum | Qualified Plan | |||
Benefit Obligations [Abstract] | |||
Salary increase | 4.00% | 4.00% | 4.00% |
Net Periodic Benefit Cost [Abstract] | |||
Salary increase | 4.00% | 4.00% | 4.50% |
Other Post-Retirement Benefit Plans | |||
Benefit Obligations [Abstract] | |||
Discount rate | 3.30% | 4.30% | 3.60% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.30% | 3.60% | 4.10% |
Expected long-term rate of return on plan assets | 6.85% | 6.50% | 6.50% |
Assumed tax rate | 23.00% | 35.00% | 35.00% |
Employee Benefit Plans (Assumed
Employee Benefit Plans (Assumed Health Care Cost Trend Rates) (Details) | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | ||
Health care cost trend rate assumed for next year | 6.00% | 6.50% |
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 4.75% | 4.75% |
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, 2019USD ($) | |
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 | 22 |
Effect on total service and interest costs - 1 Percentage Point Decrease | (1) |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (20) |
Duke Energy Carolinas | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 5 |
Effect on total service and interest costs - 1 Percentage Point Decrease | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (5) |
Progress Energy | |
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 | 9 |
Effect on total service and interest costs - 1 Percentage Point Decrease | (1) |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (8) |
Duke Energy Progress | |
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 | 5 |
Effect on total service and interest costs - 1 Percentage Point Decrease | (1) |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (4) |
Duke Energy Florida | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 4 |
Effect on total service and interest costs - 1 Percentage Point Decrease | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (4) |
Duke Energy Ohio | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 1 |
Effect on total service and interest costs - 1 Percentage Point Decrease | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (1) |
Duke Energy Indiana | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 2 |
Effect on total service and interest costs - 1 Percentage Point Decrease | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | (2) |
Piedmont | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 1 |
Effect on total service and interest costs - 1 Percentage Point Decrease | 0 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | $ (1) |
Employee Benefit Plans (Expecte
Employee Benefit Plans (Expected Benefit Payments) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Pension Plan | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | $ 643 |
2021 | 653 |
2022 | 649 |
2023 | 649 |
2024 | 638 |
2025-2029 | 2,851 |
Pension Plan | Duke Energy Carolinas | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 167 |
2021 | 171 |
2022 | 177 |
2023 | 174 |
2024 | 168 |
2025-2029 | 714 |
Pension Plan | Progress Energy | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 169 |
2021 | 178 |
2022 | 176 |
2023 | 182 |
2024 | 184 |
2025-2029 | 871 |
Pension Plan | Duke Energy Progress | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 89 |
2021 | 95 |
2022 | 92 |
2023 | 95 |
2024 | 96 |
2025-2029 | 419 |
Pension Plan | Duke Energy Florida | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 79 |
2021 | 82 |
2022 | 84 |
2023 | 86 |
2024 | 87 |
2025-2029 | 448 |
Pension Plan | Duke Energy Ohio | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 37 |
2021 | 37 |
2022 | 37 |
2023 | 36 |
2024 | 35 |
2025-2029 | 156 |
Pension Plan | Duke Energy Indiana | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 50 |
2021 | 50 |
2022 | 49 |
2023 | 48 |
2024 | 48 |
2025-2029 | 220 |
Pension Plan | Piedmont | Qualified Plan | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 28 |
2021 | 24 |
2022 | 22 |
2023 | 21 |
2024 | 20 |
2025-2029 | 87 |
Other Post-Retirement Benefit Plans | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 76 |
2021 | 70 |
2022 | 66 |
2023 | 63 |
2024 | 59 |
2025-2029 | 246 |
Other Post-Retirement Benefit Plans | Duke Energy Carolinas | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 18 |
2021 | 17 |
2022 | 16 |
2023 | 15 |
2024 | 15 |
2025-2029 | 60 |
Other Post-Retirement Benefit Plans | Progress Energy | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 29 |
2021 | 28 |
2022 | 27 |
2023 | 25 |
2024 | 24 |
2025-2029 | 101 |
Other Post-Retirement Benefit Plans | Duke Energy Progress | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 16 |
2021 | 15 |
2022 | 14 |
2023 | 14 |
2024 | 13 |
2025-2029 | 55 |
Other Post-Retirement Benefit Plans | Duke Energy Florida | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 13 |
2021 | 13 |
2022 | 12 |
2023 | 12 |
2024 | 11 |
2025-2029 | 46 |
Other Post-Retirement Benefit Plans | Duke Energy Ohio | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 4 |
2021 | 3 |
2022 | 3 |
2023 | 3 |
2024 | 3 |
2025-2029 | 11 |
Other Post-Retirement Benefit Plans | Duke Energy Indiana | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 8 |
2021 | 7 |
2022 | 7 |
2023 | 6 |
2024 | 6 |
2025-2029 | 23 |
Other Post-Retirement Benefit Plans | Piedmont | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |
2020 | 2 |
2021 | 2 |
2022 | 2 |
2023 | 2 |
2024 | 2 |
2025-2029 | $ 11 |
Employee Benefit Plans (Target
Employee Benefit Plans (Target and Actual Asset Allocations) (Details) | Dec. 31, 2019 | Dec. 31, 2018 |
Master Trust | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 100.00% | 100.00% |
Target allocation | 100.00% | |
Master Trust | U.S. equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 0.00% | 11.00% |
Target allocation | 0.00% | |
Master Trust | Global equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 27.00% | 18.00% |
Target allocation | 28.00% | |
Master Trust | Global private equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 1.00% | 2.00% |
Target allocation | 1.00% | |
Master Trust | Debt securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 57.00% | 63.00% |
Target allocation | 58.00% | |
Master Trust | Return seeking debt securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 5.00% | 0.00% |
Target allocation | 4.00% | |
Master Trust | Hedge funds | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 3.00% | 2.00% |
Target allocation | 3.00% | |
Master Trust | Real estate and cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 7.00% | 2.00% |
Target allocation | 6.00% | |
Master Trust | Other global securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 0.00% | 2.00% |
Target allocation | 0.00% | |
OPEB | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 100.00% | 100.00% |
Target allocation | 100.00% | |
OPEB | U.S. equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 35.00% | 43.00% |
Target allocation | 33.00% | |
OPEB | Non-U.S. equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 9.00% | 8.00% |
Target allocation | 7.00% | |
OPEB | Debt securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 37.00% | 40.00% |
Target allocation | 45.00% | |
OPEB | Real estate | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 2.00% | 2.00% |
Target allocation | 2.00% | |
OPEB | Cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 17.00% | 7.00% |
Target allocation | 13.00% |
Employee Benefit Plans (Fair Va
Employee Benefit Plans (Fair Value Measurements of Plan Assets - Master Retirement Trust) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | $ 11 | $ 27 | $ 28 |
Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 9,025 | 8,324 | |
Master Trust | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 3,199 | 2,052 | |
Master Trust | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 5,487 | 5,133 | |
Master Trust | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 11 | 27 | |
Master Trust | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 328 | 1,112 | |
Master Trust | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 2,730 | 2,373 | |
Master Trust | Equity securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 2,712 | 1,751 | |
Master Trust | Equity securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Equity securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Equity securities | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 18 | 622 | |
Master Trust | Corporate debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 3,999 | 4,054 | |
Master Trust | Corporate debt securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Corporate debt securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 3,999 | 4,054 | |
Master Trust | Corporate debt securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Corporate debt securities | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Short-term investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 545 | 363 | |
Master Trust | Short-term investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 455 | 279 | |
Master Trust | Short-term investment funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 90 | 84 | |
Master Trust | Short-term investment funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Short-term investment funds | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Partnership interests | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 104 | 120 | |
Master Trust | Partnership interests | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Partnership interests | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Partnership interests | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Partnership interests | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 104 | 120 | |
Master Trust | Hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 206 | 226 | |
Master Trust | Hedge funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Hedge funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Hedge funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Hedge funds | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 206 | 226 | |
Master Trust | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 144 | |
Master Trust | Real estate | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Real estate | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Real estate | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Real estate | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 144 | |
Master Trust | U.S. government bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 1,231 | 961 | |
Master Trust | U.S. government bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | U.S. government bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 1,231 | 961 | |
Master Trust | U.S. government bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | U.S. government bonds | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Guaranteed investment contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 11 | 27 | |
Master Trust | Guaranteed investment contracts | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Guaranteed investment contracts | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Guaranteed investment contracts | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 11 | 27 | |
Master Trust | Guaranteed investment contracts | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Governments bonds – foreign | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 78 | 30 | |
Master Trust | Governments bonds – foreign | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Governments bonds – foreign | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 78 | 30 | |
Master Trust | Governments bonds – foreign | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Governments bonds – foreign | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 75 | 28 | |
Master Trust | Cash | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 75 | 28 | |
Master Trust | Cash | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Cash | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Cash | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Net pending transactions and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 46 | (2) | |
Master Trust | Net pending transactions and other investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | (43) | (6) | |
Master Trust | Net pending transactions and other investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 89 | 4 | |
Master Trust | Net pending transactions and other investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
Master Trust | Net pending transactions and other investments | Not Categorized | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 0 | 0 | |
OPEB | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 50 | 49 | |
OPEB | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 50 | 49 | |
OPEB | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 22 | 25 | |
OPEB | Equity securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 22 | 25 | |
OPEB | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 1 | 1 | |
OPEB | Real estate | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 1 | 1 | |
OPEB | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 9 | 3 | |
OPEB | Cash and cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 9 | 3 | |
OPEB | Debt securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | 18 | 20 | |
OPEB | Debt securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets | $ 18 | $ 20 | |
Duke Energy Carolinas | Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated assets | 26.00% | 27.00% | |
Progress Energy | Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated assets | 31.00% | 31.00% | |
Duke Energy Progress | Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated assets | 15.00% | 15.00% | |
Duke Energy Florida | Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated assets | 17.00% | 16.00% | |
Duke Energy Ohio | Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated assets | 5.00% | 5.00% | |
Duke Energy Indiana | Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated assets | 7.00% | 7.00% | |
Piedmont | Master Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Allocated assets | 4.00% | 4.00% |
Employee Benefit Plans (Reconci
Employee Benefit Plans (Reconciliation of Assets Measured at Fair Value on a Recurring Basis) (Details) - Level 3 - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||
Plan assets at prior measurement date | $ 27 | $ 28 |
Sales | (18) | (1) |
Total gains (losses) and other, net | 2 | 0 |
Transfer of Level 3 assets to other classifications | 0 | 0 |
Plan assets at measurement date | $ 11 | $ 27 |
Employee Benefit Plans (Employe
Employee Benefit Plans (Employee Savings Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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% | ||
Employer contributions | $ 214 | $ 213 | $ 179 |
Duke Energy Carolinas | |||
Employee Savings Plans [Abstract] | |||
Employer contributions | 66 | 68 | 61 |
Progress Energy | |||
Employee Savings Plans [Abstract] | |||
Employer contributions | 58 | 58 | 53 |
Duke Energy Progress | |||
Employee Savings Plans [Abstract] | |||
Employer contributions | 38 | 40 | 37 |
Duke Energy Florida | |||
Employee Savings Plans [Abstract] | |||
Employer contributions | 20 | 19 | 16 |
Duke Energy Ohio | |||
Employee Savings Plans [Abstract] | |||
Employer contributions | 5 | 4 | 3 |
Duke Energy Indiana | |||
Employee Savings Plans [Abstract] | |||
Employer contributions | 11 | 10 | 9 |
Piedmont | |||
Employee Savings Plans [Abstract] | |||
Employer contributions | $ 13 | $ 12 | $ 7 |
Minimum | Piedmont | |||
Employee Savings Plans [Abstract] | |||
Additional contribution percentage for employees not participating in defined pension plans | 3.00% | ||
Maximum | Piedmont | |||
Employee Savings Plans [Abstract] | |||
Additional contribution percentage for employees not participating in defined pension plans | 5.00% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Line Items] | |||
Refund of AMT credit carryforwards | $ 573 | ||
Reclassification of AMT credits from noncurrent deferred tax liabilities to a current federal income tax receivable | 286 | ||
Decrease in unrecognized tax benefits is reasonably possible | 3 | ||
AMT credit carryforwards | |||
Income Tax Disclosure [Line Items] | |||
Refund of AMT credit carryforwards | $ 573 | ||
Analysis of existing regulatory liability | |||
Income Tax Disclosure [Line Items] | |||
Measurement period adjustments | $ (23) | ||
Bonus depreciation | |||
Income Tax Disclosure [Line Items] | |||
Measurement period adjustments | (10) | ||
Nondeductible long-term incentives | |||
Income Tax Disclosure [Line Items] | |||
Measurement period adjustments | (7) | ||
Refundable AMT credits | |||
Income Tax Disclosure [Line Items] | |||
Measurement period adjustments | $ (76) | ||
Regulatory liability | |||
Income Tax Disclosure [Line Items] | |||
Measurement period adjustments | (83) | ||
Reclassified AMT credit carryforwards | |||
Income Tax Disclosure [Line Items] | |||
Measurement period adjustments | $ (573) |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | $ (299) | $ (647) | $ (247) |
Current state taxes | 10 | (11) | 4 |
Current foreign taxes | 2 | 3 | 3 |
Total current income taxes | (287) | (655) | (240) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 855 | 1,064 | 1,344 |
Deferred state taxes | (38) | 49 | 102 |
Total deferred income taxes | 817 | 1,113 | 1,446 |
ITC amortization | (11) | (10) | (10) |
Income tax expense (benefit) from continuing operations | 519 | 448 | 1,196 |
Tax expense (benefit) from discontinued operations | (2) | (26) | (6) |
Total income tax expense included in Consolidated Statements of Operations | 517 | 422 | 1,190 |
Net operating loss carry forward | (775) | (18) | 428 |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Domestic | 4,053 | 3,018 | 4,207 |
Foreign | 44 | 55 | 59 |
Total income from continuing operations before income taxes | 4,097 | 3,073 | 4,266 |
Equity in losses of unconsolidated affiliates | (162) | (83) | (119) |
Duke Energy Carolinas | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | 164 | (8) | 221 |
Current state taxes | 13 | 6 | 20 |
Current foreign taxes | 0 | 0 | |
Total current income taxes | 177 | (2) | 241 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 175 | 299 | 381 |
Deferred state taxes | (37) | 11 | 35 |
Total deferred income taxes | 138 | 310 | 416 |
ITC amortization | (4) | (5) | (5) |
Income tax expense (benefit) from continuing operations | 311 | 303 | 652 |
Tax expense (benefit) from discontinued operations | 0 | 0 | |
Total income tax expense included in Consolidated Statements of Operations | 311 | 303 | 652 |
Net operating loss carry forward | 8 | 22 | 10 |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income from continuing operations before income taxes | 1,714 | 1,374 | 1,866 |
Progress Energy | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (173) | (135) | (436) |
Current state taxes | (7) | (5) | (5) |
Current foreign taxes | 0 | 0 | |
Total current income taxes | (180) | (140) | (441) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 422 | 341 | 664 |
Deferred state taxes | 17 | 20 | 44 |
Total deferred income taxes | 439 | 361 | 708 |
ITC amortization | (6) | (3) | (3) |
Income tax expense (benefit) from continuing operations | 253 | 218 | 264 |
Tax expense (benefit) from discontinued operations | 0 | 0 | |
Total income tax expense included in Consolidated Statements of Operations | 253 | 218 | 264 |
Net operating loss carry forward | (243) | (293) | (74) |
Duke Energy Progress | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (36) | (71) | (95) |
Current state taxes | (3) | (5) | 2 |
Current foreign taxes | 0 | 0 | |
Total current income taxes | (39) | (76) | (93) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 220 | 256 | 378 |
Deferred state taxes | (18) | (17) | 10 |
Total deferred income taxes | 202 | 239 | 388 |
ITC amortization | (6) | (3) | (3) |
Income tax expense (benefit) from continuing operations | 157 | 160 | 292 |
Tax expense (benefit) from discontinued operations | 0 | 0 | |
Total income tax expense included in Consolidated Statements of Operations | 157 | 160 | 292 |
Net operating loss carry forward | 35 | 59 | 1 |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income from continuing operations before income taxes | 962 | 827 | 1,007 |
Duke Energy Florida | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (43) | (49) | (188) |
Current state taxes | 18 | (10) | (11) |
Current foreign taxes | 0 | 0 | |
Total current income taxes | (25) | (59) | (199) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 153 | 115 | 194 |
Deferred state taxes | 27 | 45 | 51 |
Total deferred income taxes | 180 | 160 | 245 |
ITC amortization | 0 | 0 | |
Income tax expense (benefit) from continuing operations | 155 | 101 | 46 |
Tax expense (benefit) from discontinued operations | 0 | 0 | |
Total income tax expense included in Consolidated Statements of Operations | 155 | 101 | 46 |
Net operating loss carry forward | (152) | (219) | (36) |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income from continuing operations before income taxes | 847 | 655 | 758 |
Duke Energy Ohio | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (41) | 20 | (37) |
Current state taxes | (1) | (1) | 2 |
Current foreign taxes | 0 | 0 | |
Total current income taxes | (42) | 19 | (35) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 77 | 21 | 99 |
Deferred state taxes | 5 | 3 | (4) |
Total deferred income taxes | 82 | 24 | 95 |
ITC amortization | 0 | (1) | |
Income tax expense (benefit) from continuing operations | 40 | 43 | 59 |
Tax expense (benefit) from discontinued operations | 0 | 0 | |
Total income tax expense included in Consolidated Statements of Operations | 40 | 43 | 59 |
Net operating loss carry forward | (25) | (17) | (17) |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income from continuing operations before income taxes | 279 | 219 | 252 |
Duke Energy Indiana | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (23) | 29 | 128 |
Current state taxes | 1 | 3 | 21 |
Current foreign taxes | 0 | 0 | |
Total current income taxes | (22) | 32 | 149 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 128 | 74 | 138 |
Deferred state taxes | 28 | 22 | 14 |
Total deferred income taxes | 156 | 96 | 152 |
ITC amortization | 0 | 0 | |
Income tax expense (benefit) from continuing operations | 134 | 128 | 301 |
Tax expense (benefit) from discontinued operations | 0 | 0 | |
Total income tax expense included in Consolidated Statements of Operations | 134 | 128 | 301 |
Net operating loss carry forward | (60) | (21) | (42) |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income from continuing operations before income taxes | 570 | 521 | 655 |
Piedmont | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | (92) | 67 | (90) |
Current state taxes | (1) | 1 | (3) |
Current foreign taxes | 0 | 0 | |
Total current income taxes | (93) | 68 | (93) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 133 | (36) | 147 |
Deferred state taxes | 3 | 5 | 8 |
Total deferred income taxes | 136 | (31) | 155 |
ITC amortization | 0 | 0 | |
Income tax expense (benefit) from continuing operations | 43 | 37 | 62 |
Tax expense (benefit) from discontinued operations | 0 | 0 | |
Total income tax expense included in Consolidated Statements of Operations | 43 | 37 | 62 |
Net operating loss carry forward | (90) | (39) | (79) |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income from continuing operations before income taxes | 245 | 166 | 201 |
Equity in losses of unconsolidated affiliates | $ (8) | $ (7) | 6 |
Tax Act | |||
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Equity in losses of unconsolidated affiliates | $ 16 |
Income Taxes (Effective Tax Rat
Income Taxes (Effective Tax Rates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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 | $ 860 | $ 645 | $ 1,493 |
State income tax, net of federal income tax effect | (22) | 30 | 69 |
Amortization of excess deferred income tax | (121) | (61) | |
AFUDC equity income | (52) | (42) | (81) |
AFUDC equity depreciation | 34 | 31 | |
Renewable energy PTCs | (120) | (129) | (132) |
Other tax credits | (23) | (28) | |
Tax Act | 20 | (112) | |
Tax true up | (64) | (52) | |
Other items, net | 27 | (18) | 11 |
Income tax expense (benefit) from continuing operations | $ 519 | $ 448 | $ 1,196 |
Effective tax rate | 12.70% | 14.60% | 28.00% |
Duke Energy Carolinas | |||
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 | $ 360 | $ 288 | $ 653 |
State income tax, net of federal income tax effect | (19) | 14 | 36 |
Amortization of excess deferred income tax | (29) | ||
AFUDC equity income | (9) | (15) | (37) |
AFUDC equity depreciation | 19 | 18 | |
Other tax credits | (11) | (7) | |
Tax Act | 1 | 15 | |
Tax true up | (9) | (24) | |
Other items, net | 9 | 4 | 9 |
Income tax expense (benefit) from continuing operations | $ 311 | $ 303 | $ 652 |
Effective tax rate | 18.10% | 22.10% | 34.90% |
Progress Energy | |||
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 | $ 332 | $ 263 | $ 536 |
State income tax, net of federal income tax effect | 8 | 13 | 25 |
Amortization of excess deferred income tax | (64) | (55) | |
AFUDC equity income | (14) | (22) | (32) |
AFUDC equity depreciation | 10 | 9 | |
Other tax credits | (9) | (13) | |
Tax Act | 25 | (246) | |
Tax true up | (8) | (19) | |
Other items, net | (2) | (2) | |
Income tax expense (benefit) from continuing operations | $ 253 | $ 218 | $ 264 |
Effective tax rate | 16.00% | 17.40% | 17.20% |
Duke Energy Progress | |||
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 | $ 202 | $ 174 | $ 353 |
State income tax, net of federal income tax effect | (17) | (17) | 8 |
Amortization of excess deferred income tax | (10) | (1) | |
AFUDC equity income | (13) | (12) | (17) |
AFUDC equity depreciation | 5 | 5 | |
Other tax credits | (7) | (5) | |
Tax Act | 19 | (40) | |
Tax true up | (3) | (13) | |
Other items, net | (3) | 1 | |
Income tax expense (benefit) from continuing operations | $ 157 | $ 160 | $ 292 |
Effective tax rate | 16.30% | 19.30% | 29.00% |
Duke Energy Florida | |||
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 | $ 178 | $ 137 | $ 265 |
State income tax, net of federal income tax effect | 35 | 28 | 26 |
Amortization of excess deferred income tax | (54) | (54) | |
AFUDC equity income | (1) | (10) | (16) |
AFUDC equity depreciation | 5 | 4 | |
Other tax credits | (2) | (8) | |
Tax Act | (226) | ||
Tax true up | (5) | (7) | |
Other items, net | (1) | 4 | 4 |
Income tax expense (benefit) from continuing operations | $ 155 | $ 101 | $ 46 |
Effective tax rate | 18.30% | 15.40% | 6.10% |
Duke Energy Ohio | |||
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 | $ 59 | $ 46 | $ 88 |
State income tax, net of federal income tax effect | 3 | 2 | (1) |
Amortization of excess deferred income tax | (12) | (3) | |
AFUDC equity income | (3) | (2) | (4) |
AFUDC equity depreciation | 1 | 1 | |
Other tax credits | (1) | (1) | |
Tax Act | 2 | (23) | |
Tax true up | (7) | (5) | |
Other items, net | 0 | (2) | 4 |
Income tax expense (benefit) from continuing operations | $ 40 | $ 43 | $ 59 |
Effective tax rate | 14.30% | 19.60% | 23.40% |
Duke Energy Indiana | |||
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 | $ 120 | $ 109 | $ 229 |
State income tax, net of federal income tax effect | 22 | 20 | 23 |
Amortization of excess deferred income tax | (6) | (2) | |
AFUDC equity income | (3) | (2) | (8) |
AFUDC equity depreciation | 4 | 4 | |
Other tax credits | (1) | (1) | |
Tax Act | 55 | ||
Tax true up | (1) | (6) | |
Other items, net | (1) | 8 | |
Income tax expense (benefit) from continuing operations | $ 134 | $ 128 | $ 301 |
Effective tax rate | 23.50% | 24.60% | 46.00% |
Piedmont | |||
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 | $ 51 | $ 35 | $ 70 |
State income tax, net of federal income tax effect | 2 | 4 | 3 |
Amortization of excess deferred income tax | (10) | ||
Other tax credits | (1) | (3) | |
Tax Act | (12) | ||
Other items, net | 1 | 1 | 1 |
Income tax expense (benefit) from continuing operations | $ 43 | $ 37 | $ 62 |
Effective tax rate | 17.60% | 22.30% | 30.80% |
Income Taxes (Deferred Income T
Income Taxes (Deferred Income Taxes) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | $ 125 | $ 164 |
Capital lease obligations | 462 | 60 |
Pension, postretirement and other employee benefits | 303 | 347 |
Progress Energy merger purchase accounting adjustments | 389 | 483 |
Tax credits and NOL carryforwards | 3,925 | 4,580 |
Other | 97 | 25 |
Valuation allowance | (587) | (484) |
Total deferred income tax assets | 4,714 | 5,175 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | (1,664) | (1,317) |
Accelerated depreciation rates | (10,813) | (10,124) |
Regulatory assets and deferred debits, net | (1,115) | (1,540) |
Total deferred income tax liabilities | (13,592) | (12,981) |
Net deferred income tax liabilities | (8,878) | (7,806) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 3,925 | 4,580 |
Valuation allowance | (587) | (484) |
General Business Credits | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 1,821 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 1,821 | |
AMT credits | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 286 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 286 | |
NOL Carryforwards | Federal | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 169 | |
Valuation allowance | (4) | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 169 | |
Valuation allowance | (4) | |
NOL Carryforwards | State | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 303 | |
Valuation allowance | (97) | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 303 | |
Valuation allowance | (97) | |
NOL Carryforwards | Foreign | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 12 | |
Valuation allowance | (12) | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 12 | |
Valuation allowance | (12) | |
Capital loss carryforwards | Federal | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 87 | |
Valuation allowance | (87) | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 87 | |
Valuation allowance | (87) | |
Foreign Tax Credit | ||
Deferred Tax Assets, Gross [Abstract] | ||
Valuation allowance | (387) | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Valuation allowance | (387) | |
Foreign Tax Credit | Foreign | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 1,237 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 1,237 | |
Charitable contribution carryforwards | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 10 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 10 | |
Duke Energy Carolinas | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 24 | 64 |
Capital lease obligations | 72 | 26 |
Pension, postretirement and other employee benefits | (5) | 24 |
Tax credits and NOL carryforwards | 262 | 257 |
Other | 5 | 6 |
Total deferred income tax assets | 358 | 377 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | (981) | (795) |
Accelerated depreciation rates | (3,254) | (3,207) |
Regulatory assets and deferred debits, net | (44) | (64) |
Total deferred income tax liabilities | (4,279) | (4,066) |
Net deferred income tax liabilities | (3,921) | (3,689) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 262 | 257 |
Progress Energy | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 25 | 35 |
Capital lease obligations | 193 | |
Pension, postretirement and other employee benefits | 88 | 110 |
Tax credits and NOL carryforwards | 486 | 693 |
Other | 8 | 5 |
Total deferred income tax assets | 800 | 843 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | (577) | (430) |
Accelerated depreciation rates | (3,798) | (3,369) |
Regulatory assets and deferred debits, net | (887) | (985) |
Total deferred income tax liabilities | (5,262) | (4,784) |
Net deferred income tax liabilities | (4,462) | (3,941) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 486 | 693 |
Duke Energy Progress | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 49 | 53 |
Capital lease obligations | 92 | |
Pension, postretirement and other employee benefits | 38 | 47 |
Tax credits and NOL carryforwards | 176 | 215 |
Other | 3 | 5 |
Total deferred income tax assets | 358 | 320 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | (390) | (272) |
Accelerated depreciation rates | (1,918) | (1,735) |
Regulatory assets and deferred debits, net | (438) | (432) |
Total deferred income tax liabilities | (2,746) | (2,439) |
Net deferred income tax liabilities | (2,388) | (2,119) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 176 | 215 |
Duke Energy Florida | ||
Deferred Tax Assets, Gross [Abstract] | ||
Capital lease obligations | 102 | |
Pension, postretirement and other employee benefits | 44 | 58 |
Tax credits and NOL carryforwards | 253 | 363 |
Other | 2 | |
Total deferred income tax assets | 401 | 421 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | (190) | (163) |
Accelerated depreciation rates | (1,913) | (1,670) |
Regulatory assets and deferred debits, net | (477) | (574) |
Total deferred income tax liabilities | (2,580) | (2,407) |
Net deferred income tax liabilities | (2,179) | (1,986) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 253 | 363 |
Duke Energy Ohio | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 14 | 17 |
Capital lease obligations | 5 | |
Pension, postretirement and other employee benefits | 17 | 16 |
Tax credits and NOL carryforwards | 16 | 42 |
Regulatory liabilities and deferred credits | 36 | 56 |
Investments and other assets | 10 | 18 |
Other | 8 | 1 |
Total deferred income tax assets | 106 | 150 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Accelerated depreciation rates | (1,028) | (967) |
Total deferred income tax liabilities | (1,028) | (967) |
Net deferred income tax liabilities | (922) | (817) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 16 | 42 |
Duke Energy Indiana | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 5 | 6 |
Capital lease obligations | 17 | 2 |
Pension, postretirement and other employee benefits | 27 | 24 |
Tax credits and NOL carryforwards | 176 | 237 |
Regulatory liabilities and deferred credits | 52 | |
Other | 1 | (1) |
Total deferred income tax assets | 278 | 268 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | (12) | (5) |
Accelerated depreciation rates | (1,416) | (1,081) |
Regulatory assets and deferred debits, net | (191) | |
Total deferred income tax liabilities | (1,428) | (1,277) |
Net deferred income tax liabilities | (1,150) | (1,009) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 176 | 237 |
Piedmont | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 22 | 17 |
Capital lease obligations | 6 | |
Pension, postretirement and other employee benefits | (3) | (1) |
Tax credits and NOL carryforwards | 19 | 110 |
Regulatory liabilities and deferred credits | 42 | 48 |
Investments and other assets | 2 | 16 |
Other | 6 | |
Total deferred income tax assets | 94 | 190 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Accelerated depreciation rates | (802) | (733) |
Other | (8) | |
Total deferred income tax liabilities | (802) | (741) |
Net deferred income tax liabilities | (708) | (551) |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | $ 19 | $ 110 |
Income Taxes (Other Disclosures
Income Taxes (Other Disclosures) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | $ 24 | $ 25 | $ 17 |
Gross increases – tax positions in prior periods | 105 | 7 | 12 |
Gross decreases – tax positions in prior periods | (3) | (2) | (4) |
Decreases due to settlements | (6) | ||
Total changes | 102 | (1) | 8 |
Unrecognized tax benefits – December 31 | 126 | 24 | 25 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 122 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 16 | 2 | |
Interest receivable related to income taxes | 1 | ||
Interest payable related to income taxes | 1 | 3 | 5 |
Duke Energy Carolinas | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | 6 | 5 | 1 |
Gross increases – tax positions in prior periods | 2 | 2 | 4 |
Gross decreases – tax positions in prior periods | (1) | ||
Total changes | 2 | 1 | 4 |
Unrecognized tax benefits – December 31 | 8 | 6 | 5 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 8 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest expense recognized related to income taxes | 2 | ||
Interest payable related to income taxes | 25 | ||
Progress Energy | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | 9 | 5 | 2 |
Gross increases – tax positions in prior periods | 1 | 4 | 3 |
Gross decreases – tax positions in prior periods | (1) | ||
Total changes | 4 | 3 | |
Unrecognized tax benefits – December 31 | 9 | 9 | 5 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 9 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 1 | 1 | |
Interest payable related to income taxes | 1 | 1 | |
Duke Energy Progress | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | 6 | 5 | 2 |
Gross increases – tax positions in prior periods | 1 | 1 | 3 |
Gross decreases – tax positions in prior periods | (1) | ||
Total changes | 1 | 3 | |
Unrecognized tax benefits – December 31 | 6 | 6 | 5 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 6 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 1 | ||
Interest payable related to income taxes | 1 | 1 | |
Duke Energy Florida | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | 3 | 5 | 4 |
Gross increases – tax positions in prior periods | 2 | 1 | |
Gross decreases – tax positions in prior periods | (4) | ||
Total changes | (2) | 1 | |
Unrecognized tax benefits – December 31 | 3 | 3 | 5 |
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 | 1 | ||
Duke Energy Ohio | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | 1 | 1 | 4 |
Gross increases – tax positions in prior periods | 1 | ||
Gross decreases – tax positions in prior periods | (4) | ||
Total changes | (3) | ||
Unrecognized tax benefits – December 31 | 1 | 1 | 1 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 1 | ||
Duke Energy Indiana | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | 1 | 1 | |
Gross increases – tax positions in prior periods | 1 | ||
Total changes | 1 | ||
Unrecognized tax benefits – December 31 | 1 | 1 | 1 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 1 | ||
Piedmont | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | 4 | 3 | |
Gross increases – tax positions in prior periods | 1 | 3 | |
Total changes | 1 | 3 | |
Unrecognized tax benefits – December 31 | 4 | $ 4 | $ 3 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 4 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Interest payable related to income taxes | $ 1 |
Other Income and Expenses, Ne_2
Other Income and Expenses, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | $ 31 | $ 20 | $ 13 |
AFUDC equity | 139 | 221 | 237 |
Post in-service equity returns | 29 | 15 | 40 |
Nonoperating income, other | 231 | 143 | 218 |
Other income and expense, net | 430 | 399 | 508 |
Duke Energy Carolinas | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 1 | 1 | 2 |
AFUDC equity | 42 | 73 | 106 |
Post in-service equity returns | 20 | 9 | 28 |
Nonoperating income, other | 88 | 70 | 63 |
Other income and expense, net | 151 | 153 | 199 |
Progress Energy | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 11 | 18 | 6 |
AFUDC equity | 66 | 104 | 92 |
Post in-service equity returns | 7 | 5 | 12 |
Nonoperating income, other | 57 | 38 | 99 |
Other income and expense, net | 141 | 165 | 209 |
Duke Energy Progress | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 1 | 2 | |
AFUDC equity | 60 | 57 | 47 |
Post in-service equity returns | 7 | 5 | 12 |
Nonoperating income, other | 33 | 24 | 54 |
Other income and expense, net | 100 | 87 | 115 |
Duke Energy Florida | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 11 | 18 | 5 |
AFUDC equity | 6 | 47 | 45 |
Nonoperating income, other | 31 | 21 | 46 |
Other income and expense, net | 48 | 86 | 96 |
Duke Energy Ohio | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 10 | 7 | 6 |
AFUDC equity | 13 | 11 | 11 |
Post in-service equity returns | 1 | 1 | |
Nonoperating income, other | 4 | 6 | |
Other income and expense, net | 24 | 23 | 23 |
Duke Energy Indiana | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 10 | 9 | 8 |
AFUDC equity | 18 | 32 | 28 |
Post in-service equity returns | 0 | ||
Nonoperating income, other | 13 | 4 | 11 |
Other income and expense, net | 41 | 45 | 47 |
Piedmont | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 1 | 1 | |
Nonoperating income, other | 19 | 13 | (11) |
Other income and expense, net | $ 20 | $ 14 | $ (11) |
Quarterly Financial Data (Una_3
Quarterly Financial Data (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | $ 6,103 | $ 6,940 | $ 5,873 | $ 6,163 | $ 6,115 | $ 6,628 | $ 5,643 | $ 6,135 | $ 25,079 | $ 24,521 | $ 23,565 |
Operating income (loss) | 1,109 | 1,929 | 1,298 | 1,373 | 871 | 1,579 | 979 | 1,256 | 5,709 | 4,685 | 5,625 |
Income (loss) from continuing operations | 614 | 1,323 | 748 | 893 | 434 | 1,062 | 507 | 622 | 3,578 | 2,625 | 3,070 |
(Loss) Income from discontinued operations, net of tax | (7) | 20 | 4 | (5) | 0 | (7) | 19 | (6) | |||
Net income (loss) | 607 | 1,323 | 748 | 893 | 454 | 1,066 | 502 | 622 | 3,571 | 2,644 | 3,064 |
Net income (loss) attributable to parent | $ (464) | $ (1,082) | $ (500) | $ (620) | (3,748) | (2,666) | (3,059) | ||||
Net Income (Loss) Available to Common Stockholders, Basic | $ 660 | $ 1,327 | $ 820 | $ 900 | $ 3,707 | $ 2,666 | $ 3,059 | ||||
Income (loss) from continuing operations attributable to Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic and diluted (in usd per share) | $ 0.89 | $ 1.82 | $ 1.12 | $ 1.24 | $ 0.62 | $ 1.51 | $ 0.72 | $ 0.88 | $ 5.07 | $ 3.73 | $ 4.37 |
Income (loss) from discontinued operations attributable to Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic and diluted (in usd per share) | (0.01) | 0 | 0 | 0.03 | 0 | (0.01) | 0 | (0.01) | 0.03 | (0.01) | |
Net income available to Duke Energy Corporation common stockholders | |||||||||||
Basic and diluted (in usd per share) | $ 0.88 | $ 1.82 | $ 1.12 | $ 1.24 | $ 0.65 | $ 1.51 | $ 0.71 | $ 0.88 | $ 5.06 | $ 3.76 | $ 4.36 |
Duke Energy Carolinas | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | $ 1,776 | $ 2,162 | $ 1,713 | $ 1,744 | $ 1,775 | $ 2,090 | $ 1,672 | $ 1,763 | $ 7,395 | $ 7,300 | $ 7,302 |
Operating income (loss) | 347 | 793 | 451 | 435 | 241 | 713 | 224 | 482 | 2,026 | 1,660 | 2,089 |
Net income (loss) attributable to parent | (219) | (590) | (301) | (293) | (135) | (496) | (117) | (323) | (1,403) | (1,071) | (1,214) |
Progress Energy | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 2,644 | 3,242 | 2,744 | 2,572 | 2,609 | 3,045 | 2,498 | 2,576 | 11,202 | 10,728 | 9,783 |
Operating income (loss) | 447 | 786 | 580 | 488 | 334 | 663 | 484 | 447 | 2,301 | 1,928 | 2,147 |
Net income (loss) | 229 | 521 | 329 | 248 | 123 | 406 | 267 | 237 | 1,327 | 1,033 | 1,268 |
Net income (loss) attributable to parent | (229) | (521) | (328) | (249) | (123) | (404) | (265) | (235) | (1,327) | (1,027) | (1,258) |
Duke Energy Progress | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 1,398 | 1,688 | 1,387 | 1,484 | 1,366 | 1,582 | 1,291 | 1,460 | 5,957 | 5,699 | 5,129 |
Operating income (loss) | 236 | 373 | 259 | 300 | 227 | 330 | 233 | 269 | 1,168 | 1,059 | 1,185 |
Net income (loss) attributable to parent | (155) | (278) | (169) | (203) | (135) | (216) | (139) | (177) | (805) | (667) | (715) |
Duke Energy Florida | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 1,244 | 1,548 | 1,353 | 1,086 | 1,241 | 1,462 | 1,203 | 1,115 | 5,231 | 5,021 | 4,646 |
Operating income (loss) | 205 | 413 | 321 | 188 | 107 | 331 | 245 | 173 | 1,127 | 856 | 941 |
Net income (loss) attributable to parent | (106) | (289) | (201) | (96) | (40) | (243) | (168) | (103) | (692) | (554) | (712) |
Duke Energy Ohio | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 487 | 489 | 433 | 531 | 505 | 469 | 459 | 524 | 1,940 | 1,957 | 1,923 |
Operating income (loss) | 78 | 108 | 74 | 104 | 93 | 139 | 77 | (21) | 364 | 288 | 320 |
Income (loss) from continuing operations | 239 | 176 | 193 | ||||||||
(Loss) Income from discontinued operations, net of tax | (1) | (1) | |||||||||
Net income (loss) attributable to parent | (48) | (74) | (47) | (69) | (55) | (100) | (46) | 25 | (238) | (176) | (192) |
Duke Energy Indiana | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 715 | 807 | 714 | 768 | 771 | 819 | 738 | 731 | 3,004 | 3,059 | 3,047 |
Operating income (loss) | 133 | 235 | 148 | 169 | 133 | 173 | 169 | 168 | 685 | 643 | 786 |
Net income (loss) attributable to parent | (73) | (156) | (97) | (110) | (76) | (119) | (98) | (100) | (436) | (393) | (354) |
Piedmont | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 425 | 168 | 209 | 579 | 435 | 172 | 215 | 553 | 1,381 | 1,375 | 1,328 |
Operating income (loss) | 139 | (13) | 6 | 172 | 79 | (19) | 5 | 161 | 304 | 226 | 297 |
Net income (loss) attributable to parent | $ (105) | $ 18 | $ 7 | $ (122) | $ (48) | $ 21 | $ 8 | $ (110) | $ (202) | $ (129) | $ (139) |
Quarterly Financial Data (Una_4
Quarterly Financial Data (Unaudited) (Unusual or Infrequently Occurring Items) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Asset Impairment Charge Reversal | $ (14) | $ 25 | $ 11 | ||||||
Total | (14) | 25 | $ (225) | $ (106) | $ (199) | $ (341) | 11 | $ (871) | |
Costs to achieve mergers, integration costs | (31) | (16) | (20) | (17) | (84) | ||||
Sale of Retired Plant | 107 | 107 | |||||||
Impairment charges | 8 | (402) | $ (282) | ||||||
Severance Costs | (187) | (16) | (187) | (15) | |||||
Impairments Charges | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Impairment charges | (60) | (93) | (55) | (208) | |||||
Regulatory settlements | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Regulatory and Legislative Impacts | (179) | (86) | (265) | ||||||
Impacts of the Tax Act | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Tax Act | 53 | 3 | (76) | (20) | |||||
Duke Energy Carolinas | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Total | (103) | (3) | (181) | (23) | (310) | ||||
Costs to achieve mergers, integration costs | (1) | (2) | (2) | (4) | (9) | ||||
Impairment charges | (17) | (192) | 0 | ||||||
Severance Costs | (102) | (8) | (102) | (2) | |||||
Tax Act | (1) | (1) | |||||||
Duke Energy Carolinas | Regulatory settlements | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Regulatory and Legislative Impacts | (179) | (19) | (198) | ||||||
Progress Energy | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Asset Impairment Charge Reversal | 11 | 25 | 36 | ||||||
Total | 11 | 25 | (150) | (6) | (3) | (72) | 36 | (231) | |
Costs to achieve mergers, integration costs | (2) | (1) | (3) | (4) | (10) | ||||
Impairment charges | 24 | (87) | (156) | ||||||
Severance Costs | (69) | (6) | (69) | (2) | |||||
Tax Act | (19) | (5) | (1) | (25) | |||||
Progress Energy | Impairments Charges | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Impairment charges | (60) | (60) | |||||||
Progress Energy | Regulatory settlements | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Regulatory and Legislative Impacts | (67) | (67) | |||||||
Duke Energy Progress | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Total | (68) | (5) | (2) | (69) | (144) | ||||
Costs to achieve mergers, integration costs | (1) | (1) | (2) | (2) | (6) | ||||
Impairment charges | (12) | (33) | (19) | ||||||
Severance Costs | (52) | (3) | (52) | (1) | |||||
Tax Act | (15) | (4) | (19) | ||||||
Duke Energy Progress | Regulatory settlements | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Regulatory and Legislative Impacts | (67) | (67) | |||||||
Duke Energy Florida | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Total | 11 | 25 | (76) | (2) | (1) | (2) | 36 | (81) | |
Costs to achieve mergers, integration costs | (1) | (1) | (2) | (4) | |||||
Impairment charges | 36 | (54) | (138) | ||||||
Severance Costs | (17) | (3) | (17) | (1) | |||||
Tax Act | 2 | (2) | |||||||
Duke Energy Florida | Impairments Charges | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Asset Impairment Charge Reversal | $ 11 | $ 25 | 36 | ||||||
Impairment charges | (60) | (60) | |||||||
Duke Energy Ohio | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Total | (14) | (5) | (110) | (129) | |||||
Costs to achieve mergers, integration costs | (6) | (5) | (3) | (14) | |||||
Sale of Retired Plant | (107) | (107) | |||||||
Impairment charges | (1) | ||||||||
Severance Costs | (6) | (6) | |||||||
Tax Act | (2) | (2) | |||||||
Duke Energy Indiana | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Total | (7) | (2) | (9) | ||||||
Costs to achieve mergers, integration costs | (2) | (2) | |||||||
Impairment charges | (30) | (18) | |||||||
Severance Costs | (7) | (1) | (7) | (1) | |||||
Piedmont | |||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||
Total | (24) | (11) | (9) | (6) | (50) | ||||
Costs to achieve mergers, integration costs | (22) | $ (11) | $ (9) | $ (6) | (48) | ||||
Impairment charges | (7) | ||||||||
Severance Costs | $ (2) | $ (1) | $ (2) | $ (9) |