Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 24, 2015 | Jun. 30, 2014 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Entity Registrant Name | Duke Energy Corporation | ||
Entity Central Index Key | 1326160 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding | 707,544,168 | ||
Entity Public Float | $52,431,523,340 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Duke Energy Carolinas [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Carolinas, LLC | ||
Entity Central Index Key | 30371 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Progress Energy [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Progress Energy, Inc. | ||
Entity Central Index Key | 1094093 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Duke Energy Progress [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Progress, Inc. | ||
Entity Central Index Key | 17797 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Duke Energy Florida [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Florida, Inc. | ||
Entity Central Index Key | 37637 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Duke Energy Ohio [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Ohio, Inc. | ||
Entity Central Index Key | 20290 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Duke Energy Indiana [Member] | |||
Document Information [Line Items] | |||
Entity Registrant Name | Duke Energy Indiana, Inc. | ||
Entity Central Index Key | 81020 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Severance Expense Net Of Payments | $92 | |||||
Operating Revenues [Abstract] | ||||||
Regulated electric | 21,550 | 20,329 | 15,515 | |||
Non-regulated electric, natural gas, and other | 1,802 | 1,916 | 1,928 | |||
Regulated natural gas | 573 | 511 | 469 | |||
Total operating revenues | 23,925 | 22,756 | 17,912 | |||
Operating Expenses [Abstract] | ||||||
Fuel used in electric generation and purchased power - regulated | 7,686 | 7,108 | 5,582 | |||
Fuel used in electric generation and purchased power - non-regulated | 533 | 540 | 651 | |||
Cost of natural gas and other | 248 | 224 | 215 | |||
Operation, maintenance and other | 5,856 | 5,673 | 4,787 | |||
Depreciation and amortization | 3,066 | 2,668 | 2,145 | |||
Property and other taxes | 1,213 | 1,274 | 965 | |||
Impairment charges | 81 | 399 | 666 | |||
Total operating expenses | 18,683 | 17,886 | 15,011 | |||
Gains (Losses) on Sales of Other Assets and Other, net | 16 | -16 | 10 | |||
Operating Income (Loss) | 5,258 | 4,854 | 2,911 | |||
Other Income and Expenses [Abstract] | ||||||
Equity in earnings of unconsolidated affiliates | 130 | 122 | 148 | |||
Gains on sales of unconsolidated affiliates | 17 | 100 | 22 | |||
Other income and expenses, net | 351 | 262 | 397 | |||
Total other income and expenses | 498 | 484 | 567 | |||
Interest Expense | 1,622 | 1,543 | 1,244 | |||
Income (Loss) From Continuing Operations Before Income Taxes | 4,134 | 3,795 | 2,234 | |||
Income Tax Expense (Benefit) from Continuing Operations | 1,669 | 1,205 | 623 | |||
Net income | 1,889 | 2,676 | 1,782 | |||
Income (Loss) from Continuing Operations | 2,465 | 2,590 | 1,611 | |||
Income (Loss) From Discontinued Operations, net of tax | -576 | 86 | 171 | |||
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 6 | 11 | 14 | |||
Net Income (Loss) Attributable to Parent | 1,883 | 2,665 | 1,768 | |||
Net Income (Loss) Available to Parent | 2,676 | 1,780 | [1] | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Pension and OPEB adjustments | 4 | [2] | 38 | [2] | 19 | [2] |
Net unrealized gain (loss) on cash flow hedges | -26 | [3] | 59 | [3] | -28 | [3] |
Reclassification into earnings from cash flow hedges | 7 | 1 | -1 | |||
Unrealized gain (loss) on investments in available for sale securities | 3 | -4 | 14 | |||
Other comprehensive income (loss), net of tax | -136 | -99 | -76 | |||
Comprehensive Income (Loss) | 1,753 | 2,577 | 1,706 | |||
Less: Comprehensive Income Attributable to Noncontrolling Interests | 14 | 5 | 10 | |||
Comprehensive income (loss) | 1,739 | 2,572 | 1,696 | |||
Income From Continuing Operations Attributable To Parent Common Shareholders [Abstract] | ||||||
Basic | $3.46 | $3.64 | $2.77 | |||
Diluted | $3.46 | $3.63 | $2.77 | |||
Income (loss) from discontinued operations attributable To Duke Energy Corporation common shareholders [Abstract] | ||||||
Basic | ($0.80) | $0.13 | $0.30 | |||
Diluted | ($0.80) | $0.13 | $0.30 | |||
Net income attributable to Duke Energy Corporation common shareholders [Abstract] | ||||||
Basic | $2.66 | $3.77 | $3.07 | |||
Diluted | $2.66 | $3.76 | $3.07 | |||
Weighted-average shares outstanding [Abstract] | ||||||
Basic | 707 | 706 | 574 | |||
Diluted | 707 | 706 | 575 | |||
Duke Energy Carolinas [Member] | ||||||
Operating Revenues [Abstract] | ||||||
Total operating revenues | 7,351 | 6,954 | 6,665 | |||
Operating Expenses [Abstract] | ||||||
Fuel used in electric generation and purchased power - regulated | 2,133 | 1,982 | 1,864 | |||
Operation, maintenance and other | 1,995 | 1,868 | 1,979 | |||
Depreciation and amortization | 1,009 | 921 | 921 | |||
Property and other taxes | 316 | 374 | 365 | |||
Impairment charges | 3 | 31 | ||||
Total operating expenses | 5,456 | 5,145 | 5,160 | |||
Gains (Losses) on Sales of Other Assets and Other, net | 12 | |||||
Operating Income (Loss) | 1,895 | 1,809 | 1,517 | |||
Other Income and Expenses [Abstract] | ||||||
Other income and expenses, net | 172 | 120 | 185 | |||
Interest Expense | 407 | 359 | 384 | |||
Income (Loss) From Continuing Operations Before Income Taxes | 1,660 | 1,570 | 1,318 | |||
Income Tax Expense (Benefit) from Continuing Operations | 588 | 594 | 453 | |||
Net income | 1,072 | 976 | ||||
Net Income (Loss) Attributable to Parent | 1,072 | 976 | 865 | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Reclassification into earnings from cash flow hedges | 2 | 1 | 2 | |||
Unrealized gain (loss) on investments in available for sale securities | 1 | |||||
Other comprehensive income (loss), net of tax | 2 | 1 | 3 | |||
Comprehensive income (loss) | 1,074 | 977 | 868 | |||
Progress Energy [Member] | ||||||
Severance Expense Net Of Payments | 38 | |||||
Operating Revenues [Abstract] | ||||||
Total operating revenues | 10,166 | 9,533 | 9,405 | |||
Operating Expenses [Abstract] | ||||||
Fuel used in electric generation and purchased power - regulated | 4,195 | 3,851 | 4,304 | |||
Operation, maintenance and other | 2,335 | 2,247 | 2,445 | |||
Depreciation and amortization | 1,128 | 883 | 747 | |||
Property and other taxes | 517 | 557 | 570 | |||
Impairment charges | -16 | 380 | 200 | |||
Total operating expenses | 8,159 | 7,918 | 8,266 | |||
Gains (Losses) on Sales of Other Assets and Other, net | 11 | 3 | -2 | |||
Operating Income (Loss) | 2,018 | 1,618 | 1,137 | |||
Other Income and Expenses [Abstract] | ||||||
Other income and expenses, net | 77 | 94 | 130 | |||
Interest Expense | 675 | 680 | 740 | |||
Income (Loss) From Continuing Operations Before Income Taxes | 1,420 | 1,032 | 527 | |||
Income Tax Expense (Benefit) from Continuing Operations | 540 | 373 | 172 | |||
Net income | 874 | 675 | 407 | |||
Income (Loss) from Continuing Operations | 880 | 659 | 355 | |||
Income (Loss) From Discontinued Operations, net of tax | -6 | 16 | 52 | |||
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 5 | 3 | 7 | |||
Net Income (Loss) Attributable to Parent | 869 | 672 | 400 | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Pension and OPEB adjustments | 9 | 9 | -2 | |||
Net unrealized gain (loss) on cash flow hedges | -5 | |||||
Reclassification into earnings from cash flow hedges | 8 | -1 | 8 | |||
Reclassification of cash flow hedges to regulatory assets | 97 | [4] | ||||
Unrealized gain (loss) on investments in available for sale securities | 1 | |||||
Other comprehensive income (loss), net of tax | 18 | 8 | 98 | |||
Comprehensive Income (Loss) | 892 | 683 | 505 | |||
Less: Comprehensive Income Attributable to Noncontrolling Interests | 5 | 3 | 7 | |||
Comprehensive income (loss) | 887 | 680 | 498 | |||
Duke Energy Progress [Member] | ||||||
Severance Expense Net Of Payments | 18 | |||||
Operating Revenues [Abstract] | ||||||
Total operating revenues | 5,176 | 4,992 | 4,706 | |||
Operating Expenses [Abstract] | ||||||
Fuel used in electric generation and purchased power - regulated | 2,036 | 1,925 | 1,895 | |||
Operation, maintenance and other | 1,470 | 1,357 | 1,494 | |||
Depreciation and amortization | 582 | 534 | 535 | |||
Property and other taxes | 174 | 223 | 219 | |||
Impairment charges | -18 | 22 | 54 | |||
Total operating expenses | 4,244 | 4,061 | 4,197 | |||
Gains (Losses) on Sales of Other Assets and Other, net | 3 | 1 | 1 | |||
Operating Income (Loss) | 935 | 932 | 510 | |||
Other Income and Expenses [Abstract] | ||||||
Other income and expenses, net | 51 | 57 | 79 | |||
Interest Expense | 234 | 201 | 207 | |||
Income (Loss) From Continuing Operations Before Income Taxes | 752 | 788 | 382 | |||
Income Tax Expense (Benefit) from Continuing Operations | 285 | 288 | 110 | |||
Net income | 467 | 500 | 272 | |||
Less: Preferred Stock Dividend Requirement | 3 | |||||
Net Income (Loss) Available to Parent | 467 | 500 | 269 | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Net unrealized gain (loss) on cash flow hedges | -4 | |||||
Reclassification into earnings from cash flow hedges | 4 | |||||
Reclassification of cash flow hedges to regulatory assets | 71 | [5] | ||||
Other comprehensive income (loss), net of tax | 0 | 0 | 71 | |||
Comprehensive income (loss) | 467 | 500 | 343 | |||
Duke Energy Florida [Member] | ||||||
Severance Expense Net Of Payments | 6 | |||||
Operating Revenues [Abstract] | ||||||
Total operating revenues | 4,975 | 4,527 | 4,689 | |||
Operating Expenses [Abstract] | ||||||
Fuel used in electric generation and purchased power - regulated | 2,158 | 1,927 | 2,409 | |||
Operation, maintenance and other | 850 | 898 | 969 | |||
Depreciation and amortization | 545 | 330 | 192 | |||
Property and other taxes | 343 | 327 | 346 | |||
Impairment charges | 2 | 358 | 146 | |||
Total operating expenses | 3,898 | 3,840 | 4,062 | |||
Gains (Losses) on Sales of Other Assets and Other, net | 1 | 1 | 2 | |||
Operating Income (Loss) | 1,078 | 688 | 629 | |||
Other Income and Expenses [Abstract] | ||||||
Other income and expenses, net | 20 | 30 | 39 | |||
Interest Expense | 201 | 180 | 255 | |||
Income (Loss) From Continuing Operations Before Income Taxes | 897 | 538 | 413 | |||
Income Tax Expense (Benefit) from Continuing Operations | 349 | 213 | 147 | |||
Net income | 548 | 325 | 266 | |||
Less: Preferred Stock Dividend Requirement | 0 | 0 | 2 | |||
Net Income (Loss) Available to Parent | 548 | 325 | 264 | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Net unrealized gain (loss) on cash flow hedges | 0 | -1 | 0 | |||
Reclassification into earnings from cash flow hedges | 1 | 0 | 1 | |||
Reclassification of cash flow hedges to regulatory assets | 0 | [6] | 0 | [6] | 26 | [6] |
Other comprehensive income (loss), net of tax | 1 | -1 | 27 | |||
Comprehensive income (loss) | 549 | 324 | 293 | |||
Duke Energy Ohio [Member] | ||||||
Operating Revenues [Abstract] | ||||||
Regulated electric | 1,316 | 1,258 | 1,281 | |||
Non-regulated electric, natural gas, and other | 19 | 34 | 68 | |||
Regulated natural gas | 578 | 513 | 471 | |||
Total operating revenues | 1,913 | 1,805 | 1,820 | |||
Operating Expenses [Abstract] | ||||||
Fuel used in electric generation and purchased power - regulated | 459 | 428 | 475 | |||
Fuel used in electric generation and purchased power - non-regulated | 25 | 41 | 57 | |||
Cost of natural gas and other | 185 | 152 | 142 | |||
Operation, maintenance and other | 516 | 546 | 586 | |||
Depreciation and amortization | 214 | 213 | 195 | |||
Property and other taxes | 234 | 242 | 205 | |||
Impairment charges | 94 | 5 | 2 | |||
Total operating expenses | 1,727 | 1,627 | 1,662 | |||
Gains (Losses) on Sales of Other Assets and Other, net | 1 | 4 | 1 | |||
Operating Income (Loss) | 187 | 182 | 159 | |||
Other Income and Expenses [Abstract] | ||||||
Other income and expenses, net | 10 | 2 | 8 | |||
Interest Expense | 86 | 74 | 89 | |||
Income (Loss) From Continuing Operations Before Income Taxes | 111 | 110 | 78 | |||
Income Tax Expense (Benefit) from Continuing Operations | 43 | 43 | 33 | |||
Net income | -495 | 102 | 175 | |||
Income (Loss) from Continuing Operations | 68 | 67 | 45 | |||
Income (Loss) From Discontinued Operations, net of tax | -563 | 35 | 130 | |||
Net Income (Loss) Attributable to Parent | -495 | 102 | 175 | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Pension and OPEB adjustments | 1 | 27 | ||||
Other comprehensive income (loss), net of tax | 1 | 27 | ||||
Comprehensive income (loss) | -495 | 103 | 202 | |||
Duke Energy Indiana [Member] | ||||||
Operating Revenues [Abstract] | ||||||
Total operating revenues | 3,175 | 2,926 | 2,717 | |||
Operating Expenses [Abstract] | ||||||
Fuel used in electric generation and purchased power - regulated | 1,259 | 1,131 | 1,088 | |||
Operation, maintenance and other | 670 | 649 | 655 | |||
Depreciation and amortization | 413 | 342 | 389 | |||
Property and other taxes | 128 | 71 | 81 | |||
Impairment charges | 0 | 0 | 579 | |||
Total operating expenses | 2,470 | 2,193 | 2,792 | |||
Operating Income (Loss) | 705 | 733 | -75 | |||
Other Income and Expenses [Abstract] | ||||||
Other income and expenses, net | 22 | 18 | 90 | |||
Interest Expense | 171 | 170 | 138 | |||
Income (Loss) From Continuing Operations Before Income Taxes | 556 | 581 | -123 | |||
Income Tax Expense (Benefit) from Continuing Operations | 197 | 223 | -73 | |||
Net income | 359 | 358 | ||||
Net Income (Loss) Attributable to Parent | 359 | 358 | -50 | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Reclassification into earnings from cash flow hedges | -2 | -2 | ||||
Other comprehensive income (loss), net of tax | -2 | -2 | ||||
Comprehensive income (loss) | $359 | $356 | ($52) | |||
[1] | For the year ended December 31, 2012, consolidated net income of $1,782 million includes $2 million attributable to preferred shareholders of subsidiaries. Income attributable to preferred shareholders of subsidiaries is not a component of total equity and is excluded from the table above. | |||||
[2] | Net of insignificant tax expense in 2014, $17 million tax expense in 2013 and $9 million tax expense in 2012. See Note 21 for additional information. | |||||
[3] | Net of $13 million tax benefit in 2014, $20 million tax expense in 2013 and $6 million tax expense in 2012. | |||||
[4] | Net of $62 million tax expense in 2012. | |||||
[5] | Net of $46 million tax expense in 2012. | |||||
[6] | Net of $16 million tax expense in 2012. |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations (Parenthetical) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2012 |
Net unrealized gains (losses) on cash flow hedges, tax | $6 |
Progress Energy [Member] | |
Reclassification of cash flow hedges to regulatory assets, tax | 62 |
Duke Energy Progress [Member] | |
Reclassification of cash flow hedges to regulatory assets, tax | 46 |
Duke Energy Florida [Member] | |
Reclassification of cash flow hedges to regulatory assets, tax | $16 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Statement of Comprehensive Income [Abstract] | ||||||
Net income (loss) | $1,889 | $2,676 | $1,782 | |||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||
Foreign currency translation adjustments | -124 | -197 | -75 | |||
Pension and OPEB adjustments | 4 | [1] | 38 | [1] | 19 | [1] |
Net unrealized gain (loss) on cash flow hedges | -26 | [2] | 59 | [2] | -28 | [2] |
Reclassification into earnings from cash flow hedges | 7 | 1 | -1 | |||
Unrealized gain (loss) on investments in available for sale securities | 3 | -4 | 14 | |||
Reclassification into earnings from available for sale securities | 4 | -5 | ||||
Other comprehensive income (loss), net of tax | -136 | -99 | -76 | |||
Comprehensive Income | 1,753 | 2,577 | 1,706 | |||
Less: Comprehensive Income Attributable to Noncontrolling Interests | 14 | 5 | 10 | |||
Comprehensive income (loss) | $1,739 | $2,572 | $1,696 | |||
[1] | Net of insignificant tax expense in 2014, $17 million tax expense in 2013 and $9 million tax expense in 2012. See Note 21 for additional information. | |||||
[2] | Net of $13 million tax benefit in 2014, $20 million tax expense in 2013 and $6 million tax expense in 2012. |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthethical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pension and OPEB adjustments to AOCI, tax | $17 | $9 | |
Net unrealized gains (losses) on cash flow hedges, tax | ($13) | $20 | $6 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | $2,036 | $1,501 |
Short Term Investments | 44 | |
Receivables (net of allowance for doubtful accounts) | 791 | 1,286 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 1,973 | 1,719 |
Inventory | 3,459 | 3,250 |
Assets held for sale | 364 | |
Regulatory assets, current | 1,115 | 895 |
Other | 1,837 | 1,821 |
Total current assets | 11,575 | 10,516 |
Investments and Other Assets [Abstract] | ||
Investments in equity method unconsolidated affiliates | 358 | 390 |
Nuclear decommissioning trust funds | 5,546 | 5,132 |
Goodwill | 16,321 | 16,340 |
Assets held for sale | 2,642 | 107 |
Other | 3,008 | 3,432 |
Total investments and other assets | 27,875 | 25,401 |
Property, Plant and Equipment [Abstract] | ||
Cost | 104,861 | 103,115 |
Accumulated depreciation and amortization | -34,824 | -33,625 |
Generation Facilities To Be Retired Net | 9 | |
Net property, plant and equipment | 70,046 | 69,490 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets, noncurrent | 11,042 | 9,191 |
Other | 171 | 181 |
Total regulatory assets and deferred debits | 11,213 | 9,372 |
Total Assets | 120,709 | 114,779 |
Current Liabilities [Abstract] | ||
Accounts payable | 2,271 | 2,391 |
Notes payable and commercial paper | 2,514 | 839 |
Taxes accrued | 569 | 551 |
Interest accrued | 418 | 440 |
Current maturities of long-term debt | 2,807 | 2,104 |
Liabilities associated with assets held for sale | 262 | 7 |
Regulatory liabilities, current | 204 | 316 |
Other | 2,188 | 1,996 |
Total current liabilities | 11,233 | 8,644 |
Long-Term debt | 37,213 | 38,152 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 13,423 | 12,097 |
Investment tax credits | 427 | 442 |
Accrued pension and other post-retirement benefit costs | 1,145 | 1,322 |
Liabilities associated with assets held for sale | 35 | 66 |
Asset retirement obligations | 8,466 | 4,950 |
Regulatory liabilities - noncurrent | 6,193 | 5,949 |
Other | 1,675 | 1,749 |
Total deferred credits and other liabilities | 31,364 | 26,575 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Common stock | 1 | 1 |
Additional paid-in capital | 39,405 | 39,365 |
Retained earnings | 2,012 | 2,363 |
Accumulated other comprehensive (loss) income | -543 | -399 |
Total Common Shareholders' Equity | 40,875 | 41,330 |
Noncontrolling interests | 24 | 78 |
Total equity | 40,899 | 41,408 |
Total Liabilities and Equity | 120,709 | 114,779 |
Duke Energy Carolinas [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 13 | 23 |
Receivables (net of allowance for doubtful accounts) | 129 | 186 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 647 | 673 |
Receivables from affiliated companies | 75 | 75 |
Notes Receivable, Related Parties, Current | 150 | 222 |
Inventory | 1,124 | 1,065 |
Regulatory assets, current | 399 | 295 |
Other | 77 | 309 |
Total current assets | 2,614 | 2,848 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 3,042 | 2,840 |
Other | 959 | 1,000 |
Total investments and other assets | 4,001 | 3,840 |
Property, Plant and Equipment [Abstract] | ||
Cost | 37,372 | 34,906 |
Accumulated depreciation and amortization | -12,700 | -11,894 |
Net property, plant and equipment | 24,672 | 23,012 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets, noncurrent | 2,465 | 1,527 |
Other | 42 | 46 |
Total regulatory assets and deferred debits | 2,507 | 1,573 |
Total Assets | 33,794 | 31,273 |
Current Liabilities [Abstract] | ||
Accounts payable | 709 | 701 |
Accounts payable to affiliated companies | 154 | 161 |
Taxes accrued | 146 | 147 |
Interest accrued | 95 | 97 |
Current maturities of long-term debt | 507 | 47 |
Regulatory liabilities, current | 34 | 65 |
Other | 434 | 393 |
Total current liabilities | 2,079 | 1,611 |
Long-Term debt | 7,584 | 8,089 |
Long-term debt payable to affiliated companies | 300 | 300 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 5,812 | 5,706 |
Investment tax credits | 204 | 210 |
Accrued pension and other post-retirement benefit costs | 111 | 161 |
Asset retirement obligations | 3,428 | 1,594 |
Regulatory liabilities - noncurrent | 2,710 | 2,576 |
Other | 642 | 676 |
Total deferred credits and other liabilities | 12,907 | 10,923 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Member's equity | 10,937 | 10,365 |
Accumulated other comprehensive (loss) income | -13 | -15 |
Total Member's Equity | 10,924 | 10,350 |
Total Liabilities and Equity | 33,794 | 31,273 |
Progress Energy [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 42 | 58 |
Receivables (net of allowance for doubtful accounts) | 129 | 528 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 741 | 417 |
Receivables from affiliated companies | 59 | 4 |
Notes Receivable, Related Parties, Current | 220 | 75 |
Inventory | 1,590 | 1,424 |
Regulatory assets, current | 491 | 353 |
Other | 1,285 | 726 |
Total current assets | 4,557 | 3,585 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 2,503 | 2,292 |
Goodwill | 3,655 | 3,655 |
Other | 670 | 804 |
Total investments and other assets | 6,828 | 6,751 |
Property, Plant and Equipment [Abstract] | ||
Cost | 38,650 | 36,480 |
Accumulated depreciation and amortization | -13,506 | -13,098 |
Net property, plant and equipment | 25,144 | 23,382 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets, noncurrent | 5,408 | 4,155 |
Other | 91 | 96 |
Total regulatory assets and deferred debits | 5,499 | 4,251 |
Total Assets | 42,028 | 37,969 |
Current Liabilities [Abstract] | ||
Accounts payable | 847 | 836 |
Accounts payable to affiliated companies | 203 | 123 |
Notes payable to affiliated companies | 835 | 1,213 |
Taxes accrued | 114 | 105 |
Interest accrued | 184 | 181 |
Current maturities of long-term debt | 1,507 | 485 |
Regulatory liabilities, current | 106 | 207 |
Other | 1,021 | 896 |
Total current liabilities | 4,817 | 4,046 |
Long-Term debt | 13,247 | 13,630 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 4,759 | 3,283 |
Accrued pension and other post-retirement benefit costs | 533 | 765 |
Asset retirement obligations | 4,711 | 2,562 |
Regulatory liabilities - noncurrent | 2,379 | 2,292 |
Other | 406 | 527 |
Total deferred credits and other liabilities | 12,788 | 9,429 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Common stock | 0 | 0 |
Additional paid-in capital | 7,467 | 7,467 |
Retained earnings | 3,782 | 3,452 |
Accumulated other comprehensive (loss) income | -41 | -59 |
Total Common Shareholders' Equity | 11,208 | 10,860 |
Noncontrolling interests | -32 | 4 |
Total equity | 11,176 | 10,864 |
Total Liabilities and Equity | 42,028 | 37,969 |
Duke Energy Progress [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 9 | 21 |
Receivables (net of allowance for doubtful accounts) | 43 | 145 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 436 | 417 |
Receivables from affiliated companies | 10 | 2 |
Notes Receivable, Related Parties | 237 | |
Inventory | 966 | 853 |
Regulatory assets, current | 287 | 127 |
Other | 384 | 296 |
Total current assets | 2,372 | 1,861 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 1,701 | 1,539 |
Other | 412 | 443 |
Total investments and other assets | 2,113 | 1,982 |
Property, Plant and Equipment [Abstract] | ||
Cost | 24,207 | 22,273 |
Accumulated depreciation and amortization | -9,021 | -8,623 |
Net property, plant and equipment | 15,186 | 13,650 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets, noncurrent | 2,675 | 1,384 |
Other | 34 | 32 |
Total regulatory assets and deferred debits | 2,709 | 1,416 |
Total Assets | 22,380 | 18,909 |
Current Liabilities [Abstract] | ||
Accounts payable | 481 | 420 |
Accounts payable to affiliated companies | 120 | 103 |
Notes payable to affiliated companies | 462 | |
Taxes accrued | 47 | 37 |
Interest accrued | 81 | 70 |
Current maturities of long-term debt | 945 | 174 |
Regulatory liabilities, current | 71 | 63 |
Other | 409 | 392 |
Total current liabilities | 2,154 | 1,721 |
Long-Term debt | 5,256 | 5,061 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 2,908 | 2,557 |
Accrued pension and other post-retirement benefit costs | 290 | 321 |
Asset retirement obligations | 3,905 | 1,729 |
Regulatory liabilities - noncurrent | 1,832 | 1,673 |
Other | 168 | 222 |
Total deferred credits and other liabilities | 9,103 | 6,502 |
Equity [Abstract] | ||
Common stock | 2,159 | 2,159 |
Retained earnings | 3,708 | 3,466 |
Total equity | 5,867 | 5,625 |
Total Liabilities and Equity | 22,380 | 18,909 |
Duke Energy Florida [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 8 | 16 |
Receivables (net of allowance for doubtful accounts) | 84 | 375 |
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 305 | |
Receivables from affiliated companies | 40 | 3 |
Inventory | 623 | 571 |
Regulatory assets, current | 203 | 221 |
Other | 521 | 182 |
Total current assets | 1,784 | 1,368 |
Investments and Other Assets [Abstract] | ||
Nuclear decommissioning trust funds | 803 | 753 |
Other | 204 | 252 |
Total investments and other assets | 1,007 | 1,005 |
Property, Plant and Equipment [Abstract] | ||
Cost | 14,433 | 13,863 |
Accumulated depreciation and amortization | -4,478 | -4,252 |
Net property, plant and equipment | 9,955 | 9,611 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets, noncurrent | 2,733 | 2,729 |
Other | 39 | 44 |
Total regulatory assets and deferred debits | 2,772 | 2,773 |
Total Assets | 15,518 | 14,757 |
Current Liabilities [Abstract] | ||
Accounts payable | 365 | 333 |
Accounts payable to affiliated companies | 70 | 38 |
Notes payable to affiliated companies | 84 | 181 |
Taxes accrued | 65 | 66 |
Interest accrued | 47 | 46 |
Current maturities of long-term debt | 562 | 11 |
Regulatory liabilities, current | 35 | 144 |
Other | 586 | 445 |
Total current liabilities | 1,814 | 1,264 |
Long-Term debt | 4,298 | 4,875 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 2,452 | 1,829 |
Accrued pension and other post-retirement benefit costs | 221 | 286 |
Asset retirement obligations | 806 | 833 |
Regulatory liabilities - noncurrent | 547 | 618 |
Other | 158 | 255 |
Total deferred credits and other liabilities | 4,184 | 3,821 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Common stock | 1,762 | 1,762 |
Retained earnings | 3,460 | 3,036 |
Accumulated other comprehensive (loss) income | 0 | -1 |
Total equity | 5,222 | 4,797 |
Total Liabilities and Equity | 15,518 | 14,757 |
Duke Energy Ohio [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 20 | 36 |
Receivables (net of allowance for doubtful accounts) | 93 | 121 |
Receivables from affiliated companies | 107 | 121 |
Notes Receivable, Related Parties, Current | 145 | 57 |
Inventory | 97 | 229 |
Assets held for sale | 316 | |
Regulatory assets, current | 49 | 57 |
Other | 167 | 270 |
Total current assets | 994 | 891 |
Investments and Other Assets [Abstract] | ||
Goodwill | 920 | 920 |
Assets held for sale | 2,605 | |
Other | 23 | 232 |
Total investments and other assets | 3,548 | 1,152 |
Property, Plant and Equipment [Abstract] | ||
Cost | 7,141 | 11,143 |
Accumulated depreciation and amortization | -2,213 | -2,908 |
Generation Facilities To Be Retired Net | 9 | |
Net property, plant and equipment | 4,937 | 8,235 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets, noncurrent | 512 | 471 |
Other | 8 | 14 |
Total regulatory assets and deferred debits | 520 | 485 |
Total Assets | 9,999 | 10,763 |
Current Liabilities [Abstract] | ||
Accounts payable | 209 | 319 |
Accounts payable to affiliated companies | 74 | 77 |
Notes payable to affiliated companies | 491 | 43 |
Taxes accrued | 163 | 167 |
Interest accrued | 19 | 17 |
Current maturities of long-term debt | 157 | 47 |
Liabilities associated with assets held for sale | 246 | |
Regulatory liabilities, current | 10 | 27 |
Other | 66 | 110 |
Total current liabilities | 1,435 | 807 |
Long-Term debt | 1,584 | 2,141 |
Long-term debt payable to affiliated companies | 25 | |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 1,765 | 2,012 |
Accrued pension and other post-retirement benefit costs | 48 | 58 |
Liabilities associated with assets held for sale | 34 | |
Asset retirement obligations | 27 | 28 |
Regulatory liabilities - noncurrent | 241 | 262 |
Other | 166 | 186 |
Total deferred credits and other liabilities | 2,281 | 2,546 |
Equity [Abstract] | ||
Common stock | 762 | 762 |
Additional paid-in capital | 4,782 | 4,882 |
Retained earnings | -870 | -375 |
Total equity | 4,674 | 5,269 |
Total Liabilities and Equity | 9,999 | 10,763 |
Duke Energy Indiana [Member] | ||
Current Assets [Abstract] | ||
Cash and cash equivalents | 6 | 15 |
Receivables (net of allowance for doubtful accounts) | 87 | 22 |
Receivables from affiliated companies | 115 | 151 |
Notes Receivable, Related Parties, Current | 96 | |
Inventory | 537 | 434 |
Regulatory assets, current | 93 | 118 |
Other | 326 | 125 |
Total current assets | 1,164 | 961 |
Investments and Other Assets [Abstract] | ||
Other | 251 | 269 |
Total investments and other assets | 251 | 269 |
Property, Plant and Equipment [Abstract] | ||
Cost | 13,034 | 12,489 |
Accumulated depreciation and amortization | -4,219 | -3,913 |
Net property, plant and equipment | 8,815 | 8,576 |
Regulatory Assets and Deferred Debits [Abstract] | ||
Regulatory assets, noncurrent | 685 | 717 |
Other | 24 | 25 |
Total regulatory assets and deferred debits | 709 | 742 |
Total Assets | 10,939 | 10,548 |
Current Liabilities [Abstract] | ||
Accounts payable | 179 | 206 |
Accounts payable to affiliated companies | 58 | 56 |
Notes payable to affiliated companies | 71 | |
Taxes accrued | 54 | 57 |
Interest accrued | 56 | 56 |
Current maturities of long-term debt | 5 | 5 |
Regulatory liabilities, current | 54 | 16 |
Other | 98 | 88 |
Total current liabilities | 575 | 484 |
Long-Term debt | 3,636 | 3,641 |
Long-term debt payable to affiliated companies | 150 | 150 |
Deferred Credits and Other Liabilities [Abstract] | ||
Deferred income taxes | 1,591 | 1,171 |
Investment tax credits | 139 | 140 |
Accrued pension and other post-retirement benefit costs | 82 | 163 |
Asset retirement obligations | 32 | 30 |
Regulatory liabilities - noncurrent | 796 | 782 |
Other | 90 | 48 |
Total deferred credits and other liabilities | 2,730 | 2,334 |
Commitments and Contingencies | ||
Equity [Abstract] | ||
Common stock | 1 | 1 |
Additional paid-in capital | 1,384 | 1,384 |
Retained earnings | 2,460 | 2,551 |
Accumulated other comprehensive (loss) income | 3 | 3 |
Total equity | 3,848 | 3,939 |
Total Liabilities and Equity | $10,939 | $10,548 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Receivables, allowance for doubtful accounts | $17 | $30 |
Restricted receivables, allowance for doubtful accounts | 51 | 43 |
Common stock, par or stated value | $0.00 | $0.00 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares outstanding | 707,000,000 | 706,000,000 |
Duke Energy Carolinas [Member] | ||
Receivables, allowance for doubtful accounts | 3 | 3 |
Restricted receivables, allowance for doubtful accounts | 6 | 6 |
Progress Energy [Member] | ||
Receivables, allowance for doubtful accounts | 8 | 14 |
Restricted receivables, allowance for doubtful accounts | 8 | |
Common stock, par or stated value | $0.01 | $0.01 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Duke Energy Progress [Member] | ||
Receivables, allowance for doubtful accounts | 7 | 10 |
Restricted receivables, allowance for doubtful accounts | 5 | |
Common stock, par or stated value | $0 | $0 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares outstanding | 160,000,000 | 160,000,000 |
Duke Energy Florida [Member] | ||
Receivables, allowance for doubtful accounts | 2 | 4 |
Restricted receivables, allowance for doubtful accounts | 3 | |
Common stock, par or stated value | $0 | $0 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares outstanding | 100 | 100 |
Duke Energy Ohio [Member] | ||
Receivables, allowance for doubtful accounts | 2 | 2 |
Common stock, par or stated value | $8.50 | $8.50 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares outstanding | 89,663,086 | 89,663,086 |
Duke Energy Indiana [Member] | ||
Receivables, allowance for doubtful accounts | $1 | $1 |
Common stock, par or stated value | $0.01 | $0.01 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares outstanding | 53,913,701 | 53,913,701 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | $1,889 | $2,676 | $1,782 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 3,507 | 3,229 | 2,652 |
Equity component of AFUDC | -135 | -157 | -300 |
Severance expense | 92 | ||
FERC mitigation costs | -15 | 117 | |
Community support and charitable contributions | 34 | 92 | |
(Gains) losses on sales of other assets | -33 | -79 | -44 |
Impairment charges | 915 | 400 | 586 |
Deferred income taxes | 1,149 | 1,264 | 584 |
Equity in earnings of unconsolidated affiliates | -130 | -122 | -148 |
Voluntary opportunity cost deferral | -101 | ||
Accrued pension and other post-retirement benefit costs | 108 | 307 | 239 |
Contributions to qualified pension plans | -250 | -304 | |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | 44 | 1 | 60 |
Receivables | 58 | -281 | 39 |
Inventory | -269 | -31 | -258 |
Other current assets | -414 | -35 | 140 |
Increase (decrease) in [Abstract] | |||
Accounts payable | -30 | 73 | 131 |
Taxes accrued | -14 | 77 | -142 |
Other current liabilities | -201 | 24 | 295 |
Other assets | 16 | -384 | -129 |
Other liabilities | 141 | -364 | -139 |
Net cash provided by (used in) operating activities | 6,586 | 6,382 | 5,244 |
Net Income (Loss) Attributable to Parent | 1,883 | 2,665 | 1,768 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | -5,384 | -5,526 | -5,501 |
Investment expenditures | -90 | -81 | -6 |
Acquisitions | -54 | -451 | |
Cash acquired from the merger with Progress Energy | 71 | ||
Purchases of available-for-sale securities | -4,110 | -6,142 | -4,719 |
Proceeds from sales and maturities of available-for-sale securities | 4,133 | 6,315 | 4,537 |
Net proceeds from the sales of equity investments and other assets, and sales of and collections on notes receivable | 179 | 277 | 212 |
Change in Restricted Cash | 9 | 167 | -414 |
Other | -56 | 12 | 74 |
Net cash (used in) provided by investing activities | -5,373 | -4,978 | -6,197 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 2,914 | 3,601 | 4,170 |
Proceeds from the issuance of common stock related to employee benefit plans | 25 | 9 | 23 |
Payments for the redemption of long-term debt | -3,037 | -2,761 | -2,498 |
Payments for the redemption of preferred stock | -96 | ||
Proceeds from issuance of short-term debt with original maturities greater than 90 days | 1,066 | ||
Payments for the redemption of short-term debt with original maturities greater than 90 days | -564 | ||
Notes payable and commercial paper | 1,186 | 93 | 278 |
Distributions to noncontrolling interests | -65 | -15 | -25 |
Contributions from noncontrolling Interests | 9 | 76 | |
Dividends paid | -2,234 | -2,188 | -1,752 |
Other | 31 | 21 | -5 |
Net cash provided by (used in) financing activities | -678 | -1,327 | 267 |
Net increase (decrease) in cash and cash equivalents | 535 | 77 | -686 |
Cash and cash equivalents at beginning of period | 1,501 | 1,424 | 2,110 |
Cash and cash equivalents at end of period | 2,036 | 1,501 | 1,424 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 1,659 | 1,665 | 1,032 |
Cash paid for (received from) income taxes | 158 | -202 | 72 |
Merger with Progress Energy [Abstract] | |||
Fair value of assets acquired | 48,944 | ||
Liabilities assumed | 30,873 | ||
Issuance of common stock | 18,071 | ||
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 664 | 594 | 684 |
Duke Energy Carolinas [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 1,072 | 976 | |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,273 | 1,167 | 1,143 |
Equity component of AFUDC | -91 | -91 | -154 |
FERC mitigation costs | 3 | 46 | |
Community support and charitable contributions | 14 | 56 | |
(Gains) losses on sales of other assets | -12 | ||
Deferred income taxes | 376 | 534 | 479 |
Voluntary opportunity cost deferral | -101 | ||
Accrued pension and other post-retirement benefit costs | 22 | 38 | 41 |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | -9 | ||
Receivables | 48 | -12 | 22 |
Receivables from affiliated companies | -72 | -1 | |
Inventory | -60 | -9 | -128 |
Other current assets | -236 | -1 | 46 |
Increase (decrease) in [Abstract] | |||
Accounts payable | 10 | 58 | -51 |
Accounts payable to affiliated companies | -7 | 33 | -28 |
Taxes accrued | -15 | 4 | -12 |
Other current liabilities | -10 | -40 | 165 |
Other assets | 17 | -102 | -117 |
Other liabilities | -22 | -77 | -126 |
Net cash provided by (used in) operating activities | 2,380 | 2,411 | 2,133 |
Net Income (Loss) Attributable to Parent | 1,072 | 976 | 865 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | -1,879 | -1,695 | -1,908 |
Purchases of available-for-sale securities | -2,064 | -2,405 | -2,481 |
Proceeds from sales and maturities of available-for-sale securities | 2,044 | 2,363 | 2,445 |
Notes receivable from affiliated companies | 72 | 160 | 541 |
Other | -18 | -24 | -12 |
Net cash (used in) provided by investing activities | -1,845 | -1,601 | -1,415 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 100 | 645 | |
Payments for the redemption of long-term debt | -45 | -405 | -1,177 |
Dividends or distributions to parent | -500 | -499 | -450 |
Other | -2 | -6 | |
Net cash provided by (used in) financing activities | -545 | -806 | -988 |
Net increase (decrease) in cash and cash equivalents | -10 | 4 | -270 |
Cash and cash equivalents at beginning of period | 23 | 19 | 289 |
Cash and cash equivalents at end of period | 13 | 23 | 19 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 388 | 336 | 385 |
Cash paid for (received from) income taxes | 305 | -7 | -38 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 194 | 199 | 194 |
Progress Energy [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 874 | 675 | 407 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,313 | 1,041 | 897 |
Equity component of AFUDC | -26 | -50 | -106 |
Severance expense | 38 | ||
FERC mitigation costs | -18 | 71 | |
Community support and charitable contributions | 20 | 36 | |
(Gains) losses on sales of other assets | -6 | 2 | -16 |
Impairment charges | 2 | 380 | 146 |
Deferred income taxes | 1,014 | 616 | 263 |
Amount to be refunded to customers | 100 | ||
Accrued pension and other post-retirement benefit costs | 27 | 172 | 179 |
Contributions to qualified pension plans | -250 | -346 | |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | 12 | 55 | 7 |
Receivables | -31 | -148 | 49 |
Receivables from affiliated companies | -56 | 11 | -15 |
Inventory | -101 | 17 | -71 |
Other current assets | -934 | -156 | 2 |
Increase (decrease) in [Abstract] | |||
Accounts payable | 6 | -81 | 175 |
Accounts payable to affiliated companies | 80 | 93 | 30 |
Taxes accrued | -20 | 22 | 25 |
Other current liabilities | -144 | 61 | 81 |
Other assets | -14 | -243 | -25 |
Other liabilities | -12 | -115 | -87 |
Net cash provided by (used in) operating activities | 1,966 | 2,122 | 1,840 |
Net Income (Loss) Attributable to Parent | 869 | 672 | 400 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | -1,940 | -2,490 | -2,366 |
Purchases of available-for-sale securities | -1,689 | -2,558 | -1,374 |
Proceeds from sales and maturities of available-for-sale securities | 1,652 | 2,513 | 1,325 |
Notes receivable from affiliated companies | -145 | -75 | |
Change in Restricted Cash | 24 | ||
Other | -44 | 13 | 109 |
Net cash (used in) provided by investing activities | -2,166 | -2,597 | -2,282 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 1,572 | 845 | 2,074 |
Proceeds from the issuance of common stock related to employee benefit plans | 6 | ||
Payments for the redemption of long-term debt | -931 | -1,196 | -962 |
Payments for the redemption of preferred stock | -96 | ||
Proceeds from issuance of short-term debt with original maturities greater than 90 days | 65 | ||
Payments for the redemption of short-term debt with original maturities greater than 90 days | -65 | ||
Notes payable and commercial paper | -671 | ||
Notes payable to affiliated companies | -378 | 758 | 455 |
Distributions to noncontrolling interests | -37 | -3 | -7 |
Dividends paid | -445 | ||
Other | -42 | -6 | -7 |
Net cash provided by (used in) financing activities | 184 | 302 | 443 |
Net increase (decrease) in cash and cash equivalents | -16 | -173 | 1 |
Cash and cash equivalents at beginning of period | 58 | 231 | 230 |
Cash and cash equivalents at end of period | 42 | 58 | 231 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 664 | 678 | 784 |
Cash paid for (received from) income taxes | 141 | -167 | -4 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 294 | 255 | 375 |
Asset retirement obligation additions for spent nuclear fuel disposal related to the Progress Energy merger | 837 | ||
Capital expenditures financed through capital leases | 140 | ||
Duke Energy Progress [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 467 | 500 | 272 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 761 | 685 | 676 |
Equity component of AFUDC | -25 | -42 | -69 |
Severance expense | 18 | ||
FERC mitigation costs | -18 | 71 | |
Community support and charitable contributions | 20 | 36 | |
(Gains) losses on sales of other assets | -3 | -1 | -1 |
Impairment charges | 22 | ||
Deferred income taxes | 455 | 368 | 164 |
Accrued pension and other post-retirement benefit costs | -7 | 72 | 70 |
Contributions to qualified pension plans | -63 | -141 | |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | 13 | -9 | -25 |
Receivables | 78 | -88 | 2 |
Receivables from affiliated companies | -8 | 3 | -4 |
Inventory | -65 | -26 | -58 |
Other current assets | -416 | -39 | -24 |
Increase (decrease) in [Abstract] | |||
Accounts payable | 27 | -18 | 149 |
Accounts payable to affiliated companies | 17 | 27 | 47 |
Taxes accrued | 10 | 15 | -5 |
Other current liabilities | -68 | -86 | 23 |
Other assets | 48 | -74 | -28 |
Other liabilities | -21 | -78 | -6 |
Net cash provided by (used in) operating activities | 1,245 | 1,188 | 1,167 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | -1,241 | -1,567 | -1,525 |
Purchases of available-for-sale securities | -499 | -901 | -582 |
Proceeds from sales and maturities of available-for-sale securities | 458 | 856 | 532 |
Notes receivable from affiliated companies | -237 | ||
Other | -12 | 4 | 91 |
Net cash (used in) provided by investing activities | -1,531 | -1,608 | -1,484 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 1,347 | 845 | 988 |
Payments for the redemption of long-term debt | -379 | -451 | -502 |
Payments for the redemption of preferred stock | -62 | 0 | |
Notes payable and commercial paper | -188 | ||
Notes payable to affiliated companies | -462 | 98 | 333 |
Dividends or distributions to parent | -225 | -310 | |
Dividends paid on preferred stock | -3 | ||
Other | -7 | -7 | -3 |
Net cash provided by (used in) financing activities | 274 | 423 | 315 |
Net increase (decrease) in cash and cash equivalents | -12 | 3 | -2 |
Cash and cash equivalents at beginning of period | 21 | 18 | 20 |
Cash and cash equivalents at end of period | 9 | 21 | 18 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 220 | 217 | 249 |
Cash paid for (received from) income taxes | 81 | -94 | 19 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 194 | 166 | 232 |
Asset retirement obligation additions for spent nuclear fuel disposal related to the Progress Energy merger | 698 | ||
Capital expenditures financed through capital leases | 140 | ||
Duke Energy Florida [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 548 | 325 | 266 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 550 | 335 | 197 |
Equity component of AFUDC | -8 | -37 | |
Severance expense | 6 | ||
(Gains) losses on sales of other assets | -1 | -1 | -2 |
Impairment charges | 2 | 358 | 146 |
Deferred income taxes | 400 | 368 | 142 |
Amount to be refunded to customers | 100 | ||
Accrued pension and other post-retirement benefit costs | 29 | 79 | 71 |
Contributions to qualified pension plans | -133 | -128 | |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | -9 | 55 | 73 |
Receivables | -33 | -44 | 37 |
Receivables from affiliated companies | -37 | 17 | -13 |
Inventory | -36 | 42 | -13 |
Other current assets | -269 | -109 | 22 |
Increase (decrease) in [Abstract] | |||
Accounts payable | 18 | -22 | 21 |
Accounts payable to affiliated companies | 32 | -6 | 30 |
Taxes accrued | -31 | 18 | 15 |
Other current liabilities | -80 | 159 | 51 |
Other assets | -59 | -154 | 8 |
Other liabilities | -58 | -74 | -94 |
Net cash provided by (used in) operating activities | 966 | 1,205 | 898 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | -699 | -915 | -809 |
Purchases of available-for-sale securities | -1,189 | -1,656 | -791 |
Proceeds from sales and maturities of available-for-sale securities | 1,195 | 1,658 | 791 |
Notes receivable from affiliated companies | 207 | -207 | |
Other | -31 | 16 | |
Net cash (used in) provided by investing activities | -724 | -706 | -1,000 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 225 | 642 | |
Payments for the redemption of long-term debt | -252 | -435 | -10 |
Payments for the redemption of preferred stock | -34 | ||
Proceeds from issuance of short-term debt with original maturities greater than 90 days | 65 | ||
Payments for the redemption of short-term debt with original maturities greater than 90 days | -65 | ||
Notes payable and commercial paper | -233 | ||
Notes payable to affiliated companies | -97 | 181 | -8 |
Dividends or distributions to parent | -124 | -325 | -170 |
Dividends paid on preferred stock | -2 | ||
Other | -2 | -1 | -2 |
Net cash provided by (used in) financing activities | -250 | -614 | 217 |
Net increase (decrease) in cash and cash equivalents | -8 | -115 | 115 |
Cash and cash equivalents at beginning of period | 16 | 131 | 16 |
Cash and cash equivalents at end of period | 8 | 16 | 131 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 203 | 201 | 266 |
Cash paid for (received from) income taxes | 59 | -84 | 24 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 100 | 88 | 139 |
Asset retirement obligation additions for spent nuclear fuel disposal related to the Progress Energy merger | 139 | ||
Duke Energy Ohio [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | -495 | 102 | 175 |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 258 | 357 | 342 |
Equity component of AFUDC | -4 | -1 | -6 |
(Gains) losses on sales of other assets | -1 | -5 | -7 |
Impairment charges | 941 | 5 | 2 |
Deferred income taxes | -219 | 98 | 61 |
Accrued pension and other post-retirement benefit costs | 8 | 17 | 11 |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | 27 | 17 | -5 |
Receivables | -56 | -15 | 29 |
Receivables from affiliated companies | 14 | -39 | 61 |
Inventory | 8 | -3 | 15 |
Other current assets | -5 | -1 | -62 |
Increase (decrease) in [Abstract] | |||
Accounts payable | 27 | 13 | 5 |
Accounts payable to affiliated companies | -3 | 15 | -22 |
Taxes accrued | -9 | 1 | -24 |
Other current liabilities | 27 | 14 | -21 |
Other assets | -4 | -6 | 6 |
Other liabilities | -33 | -73 | -116 |
Net cash provided by (used in) operating activities | 481 | 496 | 444 |
Net Income (Loss) Attributable to Parent | -495 | 102 | 175 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | -322 | -434 | -514 |
Net proceeds from the sales of equity investments and other assets, and sales of and collections on notes receivable | 11 | 82 | |
Notes receivable from affiliated companies | -88 | -56 | 400 |
Other | -12 | 1 | 6 |
Net cash (used in) provided by investing activities | -422 | -478 | -26 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 450 | ||
Payments for the redemption of long-term debt | -449 | -258 | -556 |
Notes payable to affiliated companies | 473 | -202 | 245 |
Dividends or distributions to parent | -100 | -175 | |
Other | 1 | -3 | |
Net cash provided by (used in) financing activities | -75 | -13 | -486 |
Net increase (decrease) in cash and cash equivalents | -16 | 5 | -68 |
Cash and cash equivalents at beginning of period | 36 | 31 | 99 |
Cash and cash equivalents at end of period | 20 | 36 | 31 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 76 | 71 | 93 |
Cash paid for (received from) income taxes | -5 | 9 | 18 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 24 | 27 | 31 |
Transfer of Vermillion Generating Station | 28 | ||
Duke Energy Indiana [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | |||
Net income | 359 | 358 | |
Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] | |||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 416 | 346 | 393 |
Equity component of AFUDC | -14 | -15 | -84 |
Impairment charges | 579 | ||
Deferred income taxes | 308 | 304 | -74 |
Accrued pension and other post-retirement benefit costs | 16 | 25 | 15 |
(Increase) decrease in [Abstract] | |||
Net realized and unrealized mark-to-market and hedging transactions | -30 | ||
Receivables | -35 | 3 | 6 |
Receivables from affiliated companies | 36 | -47 | 52 |
Inventory | -103 | -53 | -50 |
Other current assets | -8 | -40 | -25 |
Increase (decrease) in [Abstract] | |||
Accounts payable | -41 | 32 | 18 |
Accounts payable to affiliated companies | 2 | -4 | -12 |
Taxes accrued | -32 | -30 | -27 |
Other current liabilities | 5 | -5 | 6 |
Other assets | -21 | -16 | 6 |
Other liabilities | 17 | -84 | -37 |
Net cash provided by (used in) operating activities | 905 | 744 | 716 |
Net Income (Loss) Attributable to Parent | 359 | 358 | -50 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | |||
Capital expenditures | -625 | -545 | -718 |
Purchases of available-for-sale securities | -20 | -11 | -17 |
Proceeds from sales and maturities of available-for-sale securities | 16 | 7 | 18 |
Notes receivable from affiliated companies | 96 | -96 | |
Other | 4 | -3 | -1 |
Net cash (used in) provided by investing activities | -529 | -648 | -718 |
CASH FLOWS FROM FINANCING ACTIVITIES [Abstract] | |||
Proceeds from the issuance of long-term debt | 498 | 250 | |
Payments for the redemption of long-term debt | -5 | -405 | -7 |
Notes payable to affiliated companies | 71 | -81 | -219 |
Dividends or distributions to parent | -450 | -125 | |
Other | -1 | -4 | -2 |
Net cash provided by (used in) financing activities | -385 | -117 | 22 |
Net increase (decrease) in cash and cash equivalents | -9 | -21 | 20 |
Cash and cash equivalents at beginning of period | 15 | 36 | 16 |
Cash and cash equivalents at end of period | 6 | 15 | 36 |
Supplemental Disclosures [Abstract] | |||
Cash paid for interest, net of amount capitalized | 169 | 194 | 130 |
Cash paid for (received from) income taxes | -61 | 46 | 57 |
Significant Non-cash Transactions [Abstract] | |||
Accrued capital expenditures | 87 | 73 | 67 |
Transfer of Vermillion Generating Station | $26 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Foreign Currency Adjustments [Member] | Net Gains (Losses) on Cash Flow Hedges [Member] | Net Gains (Losses) on Available for Sale Securities [Member] | Pension And OPEB Related Adjustments To AOCI [Member] | Common Stockholders' Equity [Member] | Noncontrolling Interest [Member] | Duke Energy Carolinas [Member] | Duke Energy Carolinas [Member] | Duke Energy Carolinas [Member] | Duke Energy Carolinas [Member] | Progress Energy [Member] | Progress Energy [Member] | Progress Energy [Member] | Progress Energy [Member] | Progress Energy [Member] | Progress Energy [Member] | Progress Energy [Member] | Progress Energy [Member] | Progress Energy [Member] | Duke Energy Progress [Member] | Duke Energy Progress [Member] | Duke Energy Progress [Member] | Duke Energy Progress [Member] | Duke Energy Florida [Member] | Duke Energy Florida [Member] | Duke Energy Florida [Member] | Duke Energy Florida [Member] | Duke Energy Ohio [Member] | Duke Energy Ohio [Member] | Duke Energy Ohio [Member] | Duke Energy Ohio [Member] | Duke Energy Ohio [Member] | Duke Energy Indiana [Member] | Duke Energy Indiana [Member] | Duke Energy Indiana [Member] | Duke Energy Indiana [Member] | Duke Energy Indiana [Member] | |||||
In Millions, except Share data, unless otherwise specified | Members Equity [Member] | Net Gains (Losses) on Cash Flow Hedges [Member] | Net Gains (Losses) on Available for Sale Securities [Member] | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Net Gains (Losses) on Cash Flow Hedges [Member] | Net Gains (Losses) on Available for Sale Securities [Member] | Pension And OPEB Related Adjustments To AOCI [Member] | Common Stockholders' Equity [Member] | Noncontrolling Interest [Member] | Common Stock [Member] | Retained Earnings [Member] | Net Gains (Losses) on Cash Flow Hedges [Member] | Common Stock [Member] | Retained Earnings [Member] | Net Gains (Losses) on Cash Flow Hedges [Member] | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Pension And OPEB Related Adjustments To AOCI [Member] | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Net Gains (Losses) on Cash Flow Hedges [Member] | |||||||||||||||||||||
Beginning Member's Equity at Dec. 31, 2011 | $9,454 | $9,473 | ($17) | ($2) | ||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2011 | 22,865 | 1 | 21,132 | 1,873 | -45 | -71 | -9 | -109 | 22,772 | 93 | 10,025 | 7,418 | 16 | 2,752 | -142 | 0 | -23 | 10,021 | 4 | 5,088 | 2,148 | 3,011 | -71 | 4,675 | 1,757 | 2,945 | -27 | 5,167 | 762 | 5,085 | -652 | -28 | 3,734 | 1 | 1,358 | 2,368 | 7 | |||||||||
Balance (in shares) at Dec. 31, 2011 | 445,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 1,768 | 865 | 865 | 400 | 175 | -50 | -50 | |||||||||||||||||||||||||||||||||||||||
Net income | 1,782 | 1,768 | [1] | 1,768 | [1] | 12 | [1] | 407 | 272 | 272 | 266 | 266 | 175 | 175 | ||||||||||||||||||||||||||||||||
Net income (loss) available to common stockholders | 1,780 | [1] | 269 | 264 | ||||||||||||||||||||||||||||||||||||||||||
Net Income Loss Including Portion Attributable To Noncontrolling Interest Equity Statement | [2] | 403 | 400 | 400 | 3 | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | -76 | -71 | -29 | 9 | 19 | -72 | -4 | 3 | 2 | 1 | 98 | 100 | -2 | 98 | 71 | 71 | 27 | 27 | 27 | 27 | -2 | -2 | ||||||||||||||||||||||||
Distribution to parent | -450 | -450 | ||||||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits (in shares) | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits | 76 | 76 | 76 | 31 | 18 | 13 | 31 | |||||||||||||||||||||||||||||||||||||||
Common stock issued in connection with the Progress Energy Merger (in shares) | 258,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock issued in connection with the Progress Energy Merger | 18,071 | 18,071 | 18,071 | |||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 11 | 11 | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Transfer of Vermillion Generating Station | -28 | -28 | -26 | -26 | ||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | -1,752 | -1,752 | -1,752 | -369 | -369 | -369 | -310 | -310 | -170 | -170 | -175 | -175 | ||||||||||||||||||||||||||||||||||
Preferred stock dividends at stated rates | -3 | -3 | -2 | -2 | ||||||||||||||||||||||||||||||||||||||||||
Contributions from noncontrolling Interests | 76 | |||||||||||||||||||||||||||||||||||||||||||||
Deconsolidation of DS Cornerstone, LLC | -82 | -82 | ||||||||||||||||||||||||||||||||||||||||||||
Contribution from noncontrolling interest in DS Cornerstone, LLC | 76 | 76 | ||||||||||||||||||||||||||||||||||||||||||||
Changes in noncontrolling interest in subsidiaries | -17 | [3] | -17 | [3] | -2 | -2 | ||||||||||||||||||||||||||||||||||||||||
Recapitalization for merger with Duke Energy | -7,436 | 7,436 | ||||||||||||||||||||||||||||||||||||||||||||
Tax dividend | -2 | -2 | -2 | -2 | ||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interest Other Transactions | -1 | -1 | ||||||||||||||||||||||||||||||||||||||||||||
Total Member's Equity | 9,872 | 9,888 | -15 | -1 | ||||||||||||||||||||||||||||||||||||||||||
Notes To Reconciliation Of Total Equity [Details] | ||||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to preferred shareholders | 4 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2012 | 40,941 | 1 | 39,279 | 1,889 | -116 | -100 | 0 | -90 | 40,863 | 78 | 10,185 | 0 | 7,465 | 2,783 | -42 | 0 | -25 | 10,181 | 4 | 5,127 | 2,159 | 2,968 | 0 | 4,799 | 1,762 | 3,037 | 0 | 5,166 | 762 | 4,882 | -477 | -1 | 3,708 | 1 | 1,384 | 2,318 | 5 | |||||||||
Balance (in shares) at Dec. 31, 2012 | 704,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Member's Equity at Dec. 31, 2012 | 9,872 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 634 | 153 | ||||||||||||||||||||||||||||||||||||||||||||
Net income | 634 | 244 | 154 | 110 | 110 | -21 | 90 | |||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning Member's Equity at Dec. 31, 2012 | 9,872 | 9,888 | -15 | -1 | ||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2012 | 40,941 | 1 | 39,279 | 1,889 | -116 | -100 | -90 | 40,863 | 78 | 10,185 | 7,465 | 2,783 | -42 | 0 | -25 | 10,181 | 4 | 5,127 | 2,968 | 4,799 | 3,037 | 0 | 5,166 | 762 | -477 | -1 | 3,708 | 1 | 2,318 | 5 | ||||||||||||||||
Balance (in shares) at Dec. 31, 2012 | 704,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 2,665 | 976 | 976 | 672 | 102 | 358 | 358 | |||||||||||||||||||||||||||||||||||||||
Net income | 2,676 | 2,665 | 2,665 | 11 | 976 | 675 | 500 | 500 | 325 | 325 | 102 | 102 | 358 | |||||||||||||||||||||||||||||||||
Net income (loss) available to common stockholders | 2,676 | 500 | 325 | |||||||||||||||||||||||||||||||||||||||||||
Net Income Loss Including Portion Attributable To Noncontrolling Interest Equity Statement | 675 | 672 | 672 | 3 | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | -99 | -191 | 60 | 38 | -93 | -6 | 1 | 1 | 0 | 8 | -1 | 9 | 8 | 0 | -1 | -1 | 1 | 1 | -2 | -2 | ||||||||||||||||||||||||||
Distribution to parent | -499 | -499 | ||||||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits (in shares) | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits | 86 | 86 | 86 | |||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | -2,188 | -2,188 | -2,188 | -325 | -325 | -125 | -125 | |||||||||||||||||||||||||||||||||||||||
Premium on the redemption of preferred stock of subsidiaries | -3 | -3 | -3 | -3 | -3 | -3 | -2 | -2 | -1 | -1 | ||||||||||||||||||||||||||||||||||||
Contributions from noncontrolling Interests | 9 | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Changes in noncontrolling interest in subsidiaries | -14 | [3] | -14 | [3] | -3 | -3 | ||||||||||||||||||||||||||||||||||||||||
Other additional paid in capital adjustments | 2 | 2 | 2 | |||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interest Other Transactions | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Total Member's Equity | 10,350 | 10,365 | -14 | -1 | ||||||||||||||||||||||||||||||||||||||||||
Notes To Reconciliation Of Total Equity [Details] | ||||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to preferred shareholders | 2 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2013 | 41,408 | 39,365 | 2,363 | -307 | -40 | -52 | 41,330 | 78 | 10,864 | 0 | 7,467 | 3,452 | -43 | -16 | 10,860 | 4 | 5,625 | 2,159 | 3,466 | 0 | 4,797 | 1,762 | 3,036 | -1 | 5,269 | 762 | -375 | 0 | 3,939 | 1 | 1,384 | 2,551 | 3 | |||||||||||||
Balance (in shares) at Dec. 31, 2013 | 706,000,000 | 100 | 160,000,000 | 100 | 89,663,086 | 53,913,701 | ||||||||||||||||||||||||||||||||||||||||
Beginning Member's Equity at Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 688 | 195 | ||||||||||||||||||||||||||||||||||||||||||||
Net income | 692 | 209 | 196 | 138 | 75 | 6 | 82 | |||||||||||||||||||||||||||||||||||||||
Total Member's Equity | 10,350 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2013 | 41,408 | 10,864 | 0 | 5,625 | 2,159 | 0 | 4,797 | 1,762 | 5,269 | 762 | 3,939 | 1 | 1,384 | |||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2013 | 706,000,000 | 100 | 160,000,000 | 100 | 89,663,086 | 53,913,701 | ||||||||||||||||||||||||||||||||||||||||
Beginning Member's Equity at Dec. 31, 2013 | 10,350 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | -97 | 202 | ||||||||||||||||||||||||||||||||||||||||||||
Net income | -93 | 286 | 203 | 133 | 108 | -890 | 113 | |||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning Member's Equity at Dec. 31, 2013 | 10,350 | 10,365 | -14 | -1 | ||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2013 | 41,408 | 1 | 39,365 | 2,363 | -307 | -40 | -52 | 41,330 | 78 | 10,864 | 0 | 3,452 | -43 | 0 | -16 | 10,860 | 4 | 5,625 | 2,159 | 3,466 | 0 | 4,797 | 1,762 | 3,036 | -1 | 5,269 | 762 | 4,882 | -375 | 3,939 | 1 | 1,384 | 2,551 | |||||||||||||
Balance (in shares) at Dec. 31, 2013 | 706,000,000 | 706,000,000 | 100 | 160,000,000 | 100 | 89,663,086 | 53,913,701 | |||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 1,883 | 1,072 | 1,072 | 869 | -495 | 359 | 359 | |||||||||||||||||||||||||||||||||||||||
Net income | 1,889 | 1,883 | 1,883 | 6 | 1,072 | 874 | 467 | 467 | 548 | 548 | -495 | -495 | 359 | |||||||||||||||||||||||||||||||||
Net income (loss) available to common stockholders | 467 | 548 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income Loss Including Portion Attributable To Noncontrolling Interest Equity Statement | 874 | 869 | 869 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | -136 | -132 | -19 | 3 | 4 | -144 | 8 | 2 | 2 | 0 | 18 | 8 | 1 | 9 | 18 | 0 | 1 | 1 | ||||||||||||||||||||||||||||
Distribution to parent | -500 | -500 | ||||||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits (in shares) | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock issuances, including dividend reinvestment and employee benefits | 40 | 40 | 40 | |||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | -2,234 | -2,234 | -2,234 | -225 | -225 | -124 | -124 | -100 | -100 | -450 | -450 | |||||||||||||||||||||||||||||||||||
Changes in noncontrolling interest in subsidiaries | -65 | [3] | -65 | [3] | -37 | -37 | ||||||||||||||||||||||||||||||||||||||||
Other additional paid in capital adjustments | -3 | |||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity, Other | -539 | -539 | -539 | |||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interest Other Transactions | -3 | -4 | -4 | |||||||||||||||||||||||||||||||||||||||||||
Total Member's Equity | 10,924 | 10,937 | -12 | -1 | ||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2014 | 40,899 | 1 | 39,405 | 2,012 | -439 | -59 | 3 | -48 | 40,875 | 24 | 11,176 | 0 | 7,467 | 3,782 | -35 | 1 | -7 | 11,208 | -32 | 5,867 | 2,159 | 3,708 | 0 | 5,222 | 1,762 | 3,460 | 0 | 4,674 | 762 | 4,782 | -870 | 0 | 3,848 | 1 | 1,384 | 2,460 | 3 | |||||||||
Balance (in shares) at Dec. 31, 2014 | 707,000,000 | 707,000,000 | 100 | 160,000,000 | 100 | 89,663,086 | 53,913,701 | |||||||||||||||||||||||||||||||||||||||
Beginning Member's Equity at Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Parent | 97 | 136 | ||||||||||||||||||||||||||||||||||||||||||||
Net income | 100 | 139 | 139 | 76 | 93 | 64 | 58 | |||||||||||||||||||||||||||||||||||||||
Total Member's Equity | 10,924 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2014 | $40,899 | $11,176 | $0 | $7,467 | $5,867 | $2,159 | $0 | $5,222 | $1,762 | $4,674 | $762 | $0 | $3,848 | $1 | $1,384 | $3 | ||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2014 | 707,000,000 | 100 | 160,000,000 | 100 | 89,663,086 | 53,913,701 | ||||||||||||||||||||||||||||||||||||||||
[1] | For the year ended December 31, 2012, consolidated net income of $1,782 million includes $2 million attributable to preferred shareholders of subsidiaries. Income attributable to preferred shareholders of subsidiaries is not a component of total equity and is excluded from the table above. | |||||||||||||||||||||||||||||||||||||||||||||
[2] | For the year ended December 31, 2012, consolidated net income of $407 million included $4 million attributable to preferred shareholders of subsidiaries. Income attributable to preferred shareholders of subsidiaries is not a component of total equity and is excluded from the table above. | |||||||||||||||||||||||||||||||||||||||||||||
[3] | This decrease primarily relates to cash distributions to noncontrolling interests |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||
Summary of Significant Accounting Policies | Index to Combined Notes To Consolidated Financial Statements | |||||||||||||||||||||||||||
The notes to the consolidated financial statements are a combined presentation. The following list indicates the registrants to which the notes apply. | ||||||||||||||||||||||||||||
Applicable Notes | ||||||||||||||||||||||||||||
Registrant | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | |||
Duke Energy Corporation | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | ||||
Duke Energy Carolinas, LLC | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | ||||||
Progress Energy, Inc. | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | |||||
Duke Energy Progress, Inc. | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | ||||||
Duke Energy Florida, Inc. | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | |||||
Duke Energy Ohio, Inc. | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | |||||||
Duke Energy Indiana, Inc. | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | • | ||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||||||||||||||||
Nature of Operations and Basis of Consolidation | ||||||||||||||||||||||||||||
Duke Energy Corporation (collectively with its subsidiaries, Duke Energy) is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the Federal Energy Regulatory Commission (FERC). Duke Energy operates in the United States (U.S.) and Latin America primarily through its direct and indirect subsidiaries. Duke Energy’s subsidiaries include its subsidiary registrants, Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc. (Progress Energy); Duke Energy Progress, Inc. (Duke Energy Progress); Duke Energy Florida, Inc. (Duke Energy Florida); Duke Energy Ohio, Inc. (Duke Energy Ohio) and Duke Energy Indiana, Inc. (Duke Energy Indiana). When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its six separate subsidiary registrants (collectively referred to as the Subsidiary Registrants), which, along with Duke Energy, are collectively referred to as the Duke Energy Registrants (Duke Energy Registrants). | ||||||||||||||||||||||||||||
On July 2, 2012, Duke Energy merged with Progress Energy, with Duke Energy continuing as the surviving corporation. Progress Energy became a subsidiary of Duke Energy and Progress Energy’s regulated utility subsidiaries, Duke Energy Progress (formerly Carolina Power & Light Company d/b/a Progress Energy Carolinas, Inc.) and Duke Energy Florida (formerly Florida Power Corporation d/b/a Progress Energy Florida, Inc.), became indirect subsidiaries of Duke Energy. Duke Energy’s consolidated financial statements include Progress Energy, Duke Energy Progress and Duke Energy Florida activity beginning July 2, 2012. The impacts of acquisition accounting from Progress Energy’s merger with Duke Energy were recorded by Duke Energy and were not reflected on the financial statements of Progress Energy, Duke Energy Progress and Duke Energy Florida. See Note 2 for additional information regarding the merger. On July 2, 2012, just prior to the close of the merger, Duke Energy executed a one-for-three reverse stock split with respect to the issued and outstanding shares of Duke Energy common stock. All per-share amounts included in this Form 10-K are presented as if the stock split had been effective from the beginning of the earliest period presented. | ||||||||||||||||||||||||||||
On August 21, 2014, Duke Energy Commercial Enterprises, Inc., an indirect wholly owned subsidiary of Duke Energy Corporation, and Duke Energy SAM, LLC, a wholly owned subsidiary of Duke Energy Ohio, entered into a purchase and sale agreement (PSA) with a subsidiary of Dynegy Inc. (Dynegy) whereby Dynegy will acquire Duke Energy Ohio’s nonregulated Midwest generation business and Duke Energy Retail Sales LLC (Disposal Group). The results of operations of the nonregulated Midwest generation business have been classified as Discontinued Operations on the Consolidated Statements of Operations for the current and prior periods presented. Duke Energy has elected to present cash flows of discontinued operations combined with cash flows of continuing operations. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented, assets held for sale and liabilities associated with assets held for sale as of December 31, 2014. See Note 2 for additional information. | ||||||||||||||||||||||||||||
The information in these combined notes relate to each of the Duke Energy Registrants as noted in the Index to the Combined Notes to Consolidated Financial Statements. However, none of the registrants makes any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself. | ||||||||||||||||||||||||||||
These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries where the respective Duke Energy Registrants have control. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. | ||||||||||||||||||||||||||||
Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the North Carolina Utilities Commission (NCUC), Public Service Commission of South Carolina (PSCSC), U.S. Nuclear Regulatory Commission (NRC) and FERC. Substantially all of Duke Energy Carolinas’ operations qualify for regulatory accounting. | ||||||||||||||||||||||||||||
Progress Energy is a public utility holding company headquartered in Raleigh, North Carolina, subject to regulation by the FERC. Progress Energy conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Substantially all of Progress Energy’s operations qualify for regulatory accounting. | ||||||||||||||||||||||||||||
Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC. Substantially all of Duke Energy Progress’ operations qualify for regulatory accounting. | ||||||||||||||||||||||||||||
Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the Florida Public Service Commission (FPSC), NRC and FERC. Substantially all of Duke Energy Florida’s operations qualify for regulatory accounting. | ||||||||||||||||||||||||||||
Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in Ohio and Kentucky, in the generation business in Kentucky, and the transportation and sale of natural gas in portions of Ohio and Kentucky. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky, Inc. (Duke Energy Kentucky). Duke Energy Ohio conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered from retail customers. References herein to Duke Energy Ohio include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the Public Utilities Commission of Ohio (PUCO), Kentucky Public Service Commission (KPSC) and FERC. Duke Energy Ohio applies regulatory accounting to a portion of its operations. Duke Energy has agreed to sell Duke Energy Ohio's nonregulated Midwest generation business, which sells power into wholesale energy markets, to Dynegy. See Note 2 for additional information. | ||||||||||||||||||||||||||||
Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the Indiana Utility Regulatory Commission (IURC) and FERC. Substantially all of Duke Energy Indiana’s operations qualify for regulatory accounting. | ||||||||||||||||||||||||||||
Certain prior year amounts have been reclassified to conform to the current year presentation. | ||||||||||||||||||||||||||||
Other Current and Non-Current Assets and Liabilities | ||||||||||||||||||||||||||||
Other within Current Assets includes the current portion of deferred tax assets, which are disclosed in Note 22. Additionally, the following are included in Other within Current Assets or Current Liabilities in the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2014 and 2013. The amounts presented exceeded 5 percent of current assets or 5 percent of current liabilities unless otherwise noted. | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
(in millions) | Location | 2014 | 2013 | |||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Accrued compensation | Current Liabilities | $ | 638 | $ | 621 | |||||||||||||||||||||||
Duke Energy Carolinas | ||||||||||||||||||||||||||||
Accrued compensation | Current Liabilities | $ | 216 | $ | 198 | |||||||||||||||||||||||
Collateral liabilities | Current Liabilities | 128 | 120 | |||||||||||||||||||||||||
Progress Energy | ||||||||||||||||||||||||||||
Income taxes receivable(b) | Current Assets | $ | 718 | $ | 119 | |||||||||||||||||||||||
Customer deposits | Current Liabilities | 360 | 349 | |||||||||||||||||||||||||
Accrued compensation(a) | Current Liabilities | 174 | 214 | |||||||||||||||||||||||||
Derivative liabilities(b) | Current Liabilities | 271 | — | |||||||||||||||||||||||||
Duke Energy Progress | ||||||||||||||||||||||||||||
Income taxes receivable(b) | Current Assets | $ | 272 | $ | 15 | |||||||||||||||||||||||
Customer deposits | Current Liabilities | 135 | 129 | |||||||||||||||||||||||||
Accrued compensation | Current Liabilities | 116 | 121 | |||||||||||||||||||||||||
Derivative liabilities(b) | Current Liabilities | 108 | 38 | |||||||||||||||||||||||||
Duke Energy Florida | ||||||||||||||||||||||||||||
Income taxes receivable(b) | Current Assets | $ | 177 | $ | 65 | |||||||||||||||||||||||
Customer deposits | Current Liabilities | 225 | 220 | |||||||||||||||||||||||||
Accrued compensation(a) | Current Liabilities | 57 | 65 | |||||||||||||||||||||||||
Derivative liabilities(b) | Current Liabilities | 163 | — | |||||||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||
Collateral assets(a) | Current Assets | $ | 13 | $ | 122 | |||||||||||||||||||||||
Duke Energy Indiana | ||||||||||||||||||||||||||||
Income taxes receivable | Current Assets | $ | 98 | $ | 56 | |||||||||||||||||||||||
Accrued compensation(a) | Current Liabilities | 25 | 25 | |||||||||||||||||||||||||
Collateral liabilities | Current Liabilities | 43 | 40 | |||||||||||||||||||||||||
(a) Does not exceed 5 percent of total current assets or liabilities, as appropriate, on the Consolidated Balance Sheets at December 31, 2014. | ||||||||||||||||||||||||||||
(b) Does not exceed 5 percent of total current assets or liabilities, as appropriate, on the Consolidated Balance Sheets at December 31, 2013. | ||||||||||||||||||||||||||||
Preferred Stock | ||||||||||||||||||||||||||||
In March 2013, Duke Energy Progress and Duke Energy Florida redeemed all series of their outstanding preferred stock at prices ranging from $101.00 to $110.00 per share for Duke Energy Progress and $101.00 to $104.25 per share for Duke Energy Florida plus accrued dividends for all series. Duke Energy Progress and Duke Energy Florida redeemed the shares for $62 million and $34 million, respectively. | ||||||||||||||||||||||||||||
Discontinued Operations | ||||||||||||||||||||||||||||
For the year ended December 31, 2014, Duke Energy’s Loss from Discontinued Operations, net of tax was primarily related to a write-down of the carrying amount of the assets to the estimated fair value of the Disposal Group, based on the transaction price included in the PSA, and the operations of the Disposal Group. For the years ended December 31, 2013 and 2012, Duke Energy’s Income From Discontinued Operations, net of tax was primarily related to the operations of the Disposal Group. See Note 2 for additional information. | ||||||||||||||||||||||||||||
For the years ended December 31, 2014, 2013 and 2012. Progress Energy’s (Loss) Income From Discontinued Operations, net of tax was primarily due to tax impacts related to prior sales of diversified businesses. | ||||||||||||||||||||||||||||
Amounts Attributable to Controlling Interests | ||||||||||||||||||||||||||||
The following table presents Net Income Attributable to Duke Energy Corporation for continuing operations and discontinued operations. | ||||||||||||||||||||||||||||
Years ended December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
(in millions) | Duke Energy | Progress Energy | Duke Energy | Progress Energy | Duke Energy | Progress Energy | ||||||||||||||||||||||
Income from Continuing Operations | $ | 2,465 | $ | 880 | $ | 2,590 | $ | 659 | 1,611 | 355 | ||||||||||||||||||
Income of Continuing Operations Attributable to Noncontrolling Interests | 14 | 5 | 16 | 3 | 18 | 7 | ||||||||||||||||||||||
Income from Continuing Operations Attributable to Duke Energy Corporation | $ | 2,451 | $ | 875 | $ | 2,574 | $ | 656 | $ | 1,593 | $ | 348 | ||||||||||||||||
(Loss) Income From Discontinued Operations, net of tax | $ | (576 | ) | $ | (6 | ) | $ | 86 | $ | 16 | 171 | 52 | ||||||||||||||||
Loss of Discontinued Operations attributable to Noncontrolling Interests, net of tax | (8 | ) | — | (5 | ) | — | (4 | ) | — | |||||||||||||||||||
(Loss) Income From Discontinued Operations Attributable to Duke Energy Corporation, net of tax | $ | (568 | ) | $ | (6 | ) | $ | 91 | $ | 16 | $ | 175 | $ | 52 | ||||||||||||||
Net Income | $ | 1,889 | $ | 874 | $ | 2,676 | $ | 675 | $ | 1,782 | $ | 407 | ||||||||||||||||
Net Income Attributable to Noncontrolling Interest | 6 | 5 | 11 | 3 | 14 | 7 | ||||||||||||||||||||||
Net Income Attributable to Duke Energy Corporation | $ | 1,883 | $ | 869 | $ | 2,665 | $ | 672 | $ | 1,768 | $ | 400 | ||||||||||||||||
Significant Accounting Policies | ||||||||||||||||||||||||||||
Use of Estimates | ||||||||||||||||||||||||||||
In preparing financial statements that conform to generally accepted accounting principles (GAAP) in the U.S., the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. | ||||||||||||||||||||||||||||
Regulatory Accounting | ||||||||||||||||||||||||||||
The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, Regulatory assets and Regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. See Note 4 for further information. | ||||||||||||||||||||||||||||
Regulated Fuel Costs and Purchased Power | ||||||||||||||||||||||||||||
The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses. These clauses allow for the recovery of fuel and fuel-related costs and portions of purchased power costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded as an adjustment to Fuel Operating Revenues – Regulated electric on the Consolidated Statements of Operations with an off-setting impact on regulatory assets or liabilities. | ||||||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||||||
All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. At December 31, 2014, $1,680 million of Duke Energy’s total cash and cash equivalents is held by entities domiciled in foreign jurisdictions. During the fourth quarter of 2014, Duke Energy declared a taxable dividend of historical foreign earnings in the form of notes payable that will result in the repatriation of approximately $2.7 billion in cash held and expected to be generated by International Energy over a period of up to 8 years. See Note 22 to the Consolidated Financial Statements, “Income Taxes,” for additional information. | ||||||||||||||||||||||||||||
Restricted Cash | ||||||||||||||||||||||||||||
The Duke Energy Registrants have restricted cash related primarily to collateral assets, escrow deposits and variable interest entities (VIEs). Restricted cash balances are reflected in Other within Current Assets and in Other within Investments and Other Assets on the Consolidated Balance Sheets. At December 31, 2014 and 2013, Duke Energy had restricted cash totaling $298 million and $307 million, respectively. | ||||||||||||||||||||||||||||
Inventory | ||||||||||||||||||||||||||||
Inventory is used for operations and is recorded primarily using the average cost method. Inventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Materials and supplies are recorded as inventory when purchased and subsequently charged to expense or capitalized to property, plant and equipment when installed. Reserves are established for excess and obsolete inventory. The components of inventory are presented in the tables below. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke | Duke | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke | Duke | |||||||||||||||||||||
Energy | Energy Carolinas | Energy | Energy | |||||||||||||||||||||||||
Ohio | Indiana | |||||||||||||||||||||||||||
Materials and supplies | $ | 2,102 | $ | 719 | $ | 981 | $ | 676 | $ | 305 | $ | 67 | $ | 258 | ||||||||||||||
Coal held for electric generation | 997 | 362 | 329 | 150 | 178 | 21 | 275 | |||||||||||||||||||||
Oil, gas and other fuel held for electric generation | 360 | 43 | 280 | 140 | 140 | 9 | 4 | |||||||||||||||||||||
Total inventory | $ | 3,459 | $ | 1,124 | $ | 1,590 | $ | 966 | $ | 623 | $ | 97 | $ | 537 | ||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke | Duke | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke | Duke | |||||||||||||||||||||
Energy | Energy Carolinas | Energy | Energy | |||||||||||||||||||||||||
Ohio | Indiana | |||||||||||||||||||||||||||
Materials and supplies | $ | 1,901 | $ | 654 | $ | 854 | $ | 567 | $ | 287 | $ | 117 | $ | 193 | ||||||||||||||
Coal held for electric generation | 1,018 | 374 | 334 | 187 | 147 | 65 | 238 | |||||||||||||||||||||
Oil, gas and other fuel held for electric generation | 331 | 37 | 236 | 99 | 137 | 47 | 3 | |||||||||||||||||||||
Total inventory | $ | 3,250 | $ | 1,065 | $ | 1,424 | $ | 853 | $ | 571 | $ | 229 | $ | 434 | ||||||||||||||
Investments in Debt and Equity Securities | ||||||||||||||||||||||||||||
The Duke Energy Registrants classify investments into two categories — trading and available-for-sale. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on trading securities are included in earnings. For certain investments of regulated operations such as the Nuclear Decommissioning Trust Fund (NDTF), realized and unrealized gains and losses (including any other-than-temporary impairments) on available-for-sale securities are recorded as a regulatory asset or liability. Otherwise, unrealized gains and losses are included in Accumulated Other Comprehensive Income (AOCI), unless other-than-temporarily impaired. Other-than-temporary impairments for equity securities and the credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity. See Note 15 for further information. | ||||||||||||||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||||||
Duke Energy, Progress Energy and Duke Energy Ohio perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be an operating segment or one level below. Duke Energy, Progress Energy and Duke Energy Ohio update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. | ||||||||||||||||||||||||||||
In 2012, Progress Energy changed its goodwill impairment testing date from October 31 to August 31 to better align its annual goodwill impairment testing procedure with those of Duke Energy. The change had no impact on goodwill. Neither the change in the goodwill impairment testing date nor the merger resulted in any changes to the Progress Energy reporting units. | ||||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||||
Intangible assets are included in Other in Investments and Other Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed, or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization in the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced. | ||||||||||||||||||||||||||||
Emission allowances permit the holder of the allowance to emit certain gaseous byproducts of fossil fuel combustion, including sulfur dioxide (SO2) and nitrogen oxide (NOX). Allowances are issued by the U.S. Environmental Protection Agency (EPA) at zero cost and may also be bought and sold via third-party transactions. Allowances allocated to or acquired by the Duke Energy Registrants are held primarily for consumption. Carrying amounts for emission allowances are based on the cost to acquire the allowances or, in the case of a business combination, on the fair value assigned in the allocation of the purchase price of the acquired business. | ||||||||||||||||||||||||||||
Renewable energy certificates are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 11 for further information. | ||||||||||||||||||||||||||||
Long-Lived Asset Impairments | ||||||||||||||||||||||||||||
The Duke Energy Registrants evaluate long-lived assets, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written-down to its then-current estimated fair value and an impairment charge is recognized. | ||||||||||||||||||||||||||||
The Duke Energy Registrants assess fair value of long-lived assets using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisors. Significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset are generally viewed as triggering events to re-assess cash flows. See Note 11 for further information. | ||||||||||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||||||||||
Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized” for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted-average depreciation rates, excluding nuclear fuel, are included in the table that follows. | ||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
Duke Energy | 2.8 | % | 2.8 | % | 2.9 | % | ||||||||||||||||||||||
Duke Energy Carolinas | 2.7 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||||||
Progress Energy | 2.5 | % | 2.5 | % | 2.6 | % | ||||||||||||||||||||||
Duke Energy Progress | 2.5 | % | 2.5 | % | 2.7 | % | ||||||||||||||||||||||
Duke Energy Florida | 2.7 | % | 2.4 | % | 2.5 | % | ||||||||||||||||||||||
Duke Energy Ohio | 2.3 | % | 3.3 | % | 3.2 | % | ||||||||||||||||||||||
Duke Energy Indiana | 3 | % | 2.8 | % | 3.3 | % | ||||||||||||||||||||||
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, original cost plus the cost of retirement, less salvage value, is charged to accumulated depreciation. However, when it becomes probable a regulated asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Generation facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory Assets on the Consolidated Balance Sheets. The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate. | ||||||||||||||||||||||||||||
When the Duke Energy Registrants sell entire regulated operating units, or retire or sell nonregulated properties, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. | ||||||||||||||||||||||||||||
See Note 10 for further information. | ||||||||||||||||||||||||||||
Nuclear Fuel | ||||||||||||||||||||||||||||
Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets, except for Duke Energy Florida. Duke Energy Florida has reclassified all Crystal River Unit 3 Nuclear Station (Crystal River Unit 3) investments, including nuclear fuel, to a regulatory asset. Refer to Note 4, “Regulatory Matters,” for additional information on Crystal River Unit 3. | ||||||||||||||||||||||||||||
Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power - regulated in the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method. | ||||||||||||||||||||||||||||
Allowance for Funds Used During Construction and Interest Capitalized | ||||||||||||||||||||||||||||
For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets. | ||||||||||||||||||||||||||||
AFUDC equity, a permanent difference for income taxes, reduces the effective tax rate when capitalized and increases the effective tax rate when depreciated or amortized. See Note 22 for additional information. | ||||||||||||||||||||||||||||
For nonregulated operations, interest is capitalized during the construction phase with an offsetting non-cash credit to Interest Expense on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
Asset Retirement Obligations | ||||||||||||||||||||||||||||
Asset retirement obligations are recognized for legal obligations associated with the retirement of property, plant and equipment. Substantially all asset retirement obligations are related to regulated operations. When recording an asset retirement obligation, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset and expensed over the recovery period in rates. | ||||||||||||||||||||||||||||
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the asset retirement obligation for regulated operations through a combination of regulated revenues and NDTF. As a result, the net of amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset is deferred as a regulatory asset or liability. | ||||||||||||||||||||||||||||
Obligations for nuclear decommissioning are based on site-specific cost studies. Duke Energy Carolinas and Duke Energy Progress assume prompt dismantlement of the nuclear facilities after operations are ceased. Duke Energy Florida assumes Crystal River Unit 3 will be placed into a safe storage configuration until eventual dismantlement begins in approximately 60 years. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida also assume that spent fuel will be stored on site until such time that it can be transferred to a U.S. Department of Energy (DOE) facility. | ||||||||||||||||||||||||||||
Obligations for closure of ash basins are based upon discounted cash flows of estimated costs based upon probability weightings of the potential closure methods as evaluated on a site by site basis. Duke Energy Registrants with ash basins in North Carolina and certain basins in South Carolina and Indiana have a legal obligation that results in recognition of an asset retirement obligation at December 31, 2014. See Notes 5 and 9 for further information. | ||||||||||||||||||||||||||||
Revenue Recognition and Unbilled Revenue | ||||||||||||||||||||||||||||
Revenues on sales of electricity and gas are recognized when service is provided or the product is delivered. Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy delivered but not yet billed. Unbilled revenues can vary significantly from period to period as a result of seasonality, weather, customer usage patterns, customer mix, average price in effect for customer classes and meter reading schedules. | ||||||||||||||||||||||||||||
Unbilled revenues are included within Receivables and Restricted receivables of variable interest entities on the Consolidated Balance Sheets as shown in the following table. This table excludes amounts included in assets held for sale (AHFS). | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | ||||||||||||||||||||||||||
Duke Energy | $ | 827 | $ | 937 | ||||||||||||||||||||||||
Duke Energy Carolinas | 295 | 323 | ||||||||||||||||||||||||||
Progress Energy | 217 | 189 | ||||||||||||||||||||||||||
Duke Energy Progress | 135 | 120 | ||||||||||||||||||||||||||
Duke Energy Florida | 82 | 69 | ||||||||||||||||||||||||||
Duke Energy Ohio | — | 55 | ||||||||||||||||||||||||||
Duke Energy Indiana | 27 | 5 | ||||||||||||||||||||||||||
Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. These receivables for unbilled revenues are shown in the table below. | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | ||||||||||||||||||||||||||
Duke Energy Ohio | 79 | 89 | ||||||||||||||||||||||||||
Duke Energy Indiana | 112 | 144 | ||||||||||||||||||||||||||
Allowance for Doubtful Accounts | ||||||||||||||||||||||||||||
Allowances for doubtful accounts are presented in the following table. | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Allowance for Doubtful Accounts | ||||||||||||||||||||||||||||
Duke Energy | $ | 17 | 30 | 34 | ||||||||||||||||||||||||
Duke Energy Carolinas | 3 | 3 | 3 | |||||||||||||||||||||||||
Progress Energy | 8 | 14 | 16 | |||||||||||||||||||||||||
Duke Energy Progress | 7 | 10 | 9 | |||||||||||||||||||||||||
Duke Energy Florida | 2 | 4 | 7 | |||||||||||||||||||||||||
Duke Energy Ohio | 2 | 2 | 2 | |||||||||||||||||||||||||
Duke Energy Indiana | 1 | 1 | 1 | |||||||||||||||||||||||||
Allowance for Doubtful Accounts - VIEs | ||||||||||||||||||||||||||||
Duke Energy | $ | 51 | 43 | 44 | ||||||||||||||||||||||||
Duke Energy Carolinas | 6 | 6 | 6 | |||||||||||||||||||||||||
Progress Energy | 8 | — | — | |||||||||||||||||||||||||
Duke Energy Progress | 5 | — | — | |||||||||||||||||||||||||
Duke Energy Florida | 3 | — | — | |||||||||||||||||||||||||
Derivatives and Hedging | ||||||||||||||||||||||||||||
Derivative and non-derivative instruments may be used in connection with commodity price, interest rate and foreign currency risk management activities, including swaps, futures, forwards and options. All derivative instruments except those that qualify for the normal purchase/normal sale (NPNS) exception are recorded on the Consolidated Balance Sheets at their fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact. | ||||||||||||||||||||||||||||
Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items. | ||||||||||||||||||||||||||||
See Note 14 for further information. | ||||||||||||||||||||||||||||
Captive Insurance Reserves | ||||||||||||||||||||||||||||
Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for various business risks and losses, such as property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not yet reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience. | ||||||||||||||||||||||||||||
Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable. | ||||||||||||||||||||||||||||
Unamortized Debt Premium, Discount and Expense | ||||||||||||||||||||||||||||
Premiums, discounts and expenses incurred with the issuance of outstanding long-term debt are amortized over the term of the debt issue. Call premiums and unamortized expenses associated with refinancing higher-cost debt obligations in the regulated operations are amortized. Amortization expense is recorded as Interest Expense in the Consolidated Statements of Operations and is reflected as Depreciation, amortization and accretion within Net cash provided by operating activities on the Consolidated Statements of Cash Flows. | ||||||||||||||||||||||||||||
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 becomes 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 21 for further information, including significant accounting policies associated with these plans. | ||||||||||||||||||||||||||||
Severance and Special Termination Benefits | ||||||||||||||||||||||||||||
Duke Energy has an ongoing severance plan under which, in general, the longer a terminated employee worked prior to termination the greater the amount of severance benefits. A liability for involuntary severance is recorded once an involuntary severance plan is committed to by management, or sooner, if involuntary severances are probable and can be reasonably estimated. For involuntary severance benefits incremental to its ongoing severance plan benefits, the fair value of the obligation is expensed at the communication date if there are no future service requirements, or over the required future service period. From time to time, Duke Energy offers special termination benefits under voluntary severance programs. Special termination benefits are recorded immediately upon employee acceptance absent a significant retention period. Otherwise, the cost is recorded over the remaining service period. Employee acceptance of voluntary severance benefits is determined by management based on the facts and circumstances of the benefits being offered. See Note 19 for further information. | ||||||||||||||||||||||||||||
Guarantees | ||||||||||||||||||||||||||||
Liabilities are recognized at the time of issuance or material modification of a guarantee for the estimated fair value of the obligation it assumes. Fair value is estimated using a probability-weighted approach. The obligation is reduced over the term of the guarantee or related contract in a systematic and rational method as risk is reduced. Any additional contingent loss for guarantee contracts subsequent to the initial recognition of a liability is accounted for and recognized at the time a loss is probable and can be reasonably estimated. See Note 7 for further information. | ||||||||||||||||||||||||||||
Stock-Based Compensation | ||||||||||||||||||||||||||||
Stock-based compensation represents costs related to stock-based awards granted to employees and Duke Energy Board of Directors (Board of Directors) members. Duke Energy recognizes stock-based compensation based upon the estimated fair value of awards, net of estimated forfeitures at the date of issuance. The recognition period for these costs begin at either the applicable service inception date or grant date and continues throughout the requisite service period, or for certain share-based awards until the employee becomes retirement eligible, if earlier. Compensation cost is recognized as expense or capitalized as a component of property, plant and equipment. See Note 20 for further information. | ||||||||||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||||||||
Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and foreign jurisdictional returns. The Subsidiary Registrants entered into a tax-sharing agreement with Duke Energy. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. Deferred income taxes have been provided for temporary differences between GAAP and tax bases of assets and liabilities because the differences create taxable or tax-deductible amounts for future periods. Deferred taxes are not provided on translation gains and losses when earnings of a foreign operation are expected to be indefinitely reinvested. Investment tax credits (ITC) associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties. | ||||||||||||||||||||||||||||
Positions taken or expected to be taken on tax returns, including the decision to exclude certain income or transactions from a return, are recognized in the financial statements when it is more likely than not the tax position can be sustained based solely on the technical merits of the position. The largest amount of tax benefit that is greater than 50 percent likely of being effectively settled is recorded. Management considers a tax position effectively settled when: (i) the taxing authority has completed its examination procedures, including all appeals and administrative reviews; (ii) the Duke Energy Registrants do not intend to appeal or litigate the tax position included in the completed examination; and (iii) it is remote the taxing authority would examine or re-examine the tax position. The amount of a tax return position that is not recognized in the financial statements is disclosed as an unrecognized tax benefit. If these unrecognized tax benefits are later recognized, then there will be a decrease in income taxes payable, an income tax refund or a swap between deferred and current taxes payable. If the portion of tax benefits that has been recognized changes and those tax benefits are subsequently unrecognized, then the previously recognized tax benefits may impact the financial statements through increasing income taxes payable, reducing income tax refunds receivable changing deferred taxes. Changes in assumptions on tax benefits may also impact interest expense or interest income and may result in the recognition of tax penalties. | ||||||||||||||||||||||||||||
Tax-related interest and penalties are recorded in Interest Expense and Other Income and Expenses, net, in the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
See Note 22 for further information. | ||||||||||||||||||||||||||||
Accounting for Renewable Energy Tax Credits and Cash Grants | ||||||||||||||||||||||||||||
When Duke Energy receives ITC or cash grants on wind or solar facilities, it reduces the basis of the property recorded on the Consolidated Balance Sheets by the amount of the ITC or cash grant and, therefore, the ITC or grant benefit is recognized through reduced depreciation expense. Additionally, certain tax credits and government grants received provide for initial tax depreciable base in excess of the book carrying value equal to one half of the ITC or government grant. Deferred tax benefits are recorded as a reduction to income tax expense in the period that the basis difference is created. | ||||||||||||||||||||||||||||
Excise Taxes | ||||||||||||||||||||||||||||
Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis. Otherwise, the taxes are accounted for net. Excise taxes accounted for on a gross basis as both operating revenues and property and other taxes in the Consolidated Statements of Operations were as follows. | ||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Duke Energy | $ | 498 | $ | 602 | $ | 466 | ||||||||||||||||||||||
Duke Energy Carolinas | 94 | 164 | 161 | |||||||||||||||||||||||||
Progress Energy | 263 | 304 | 317 | |||||||||||||||||||||||||
Duke Energy Progress | 56 | 115 | 113 | |||||||||||||||||||||||||
Duke Energy Florida | 207 | 189 | 205 | |||||||||||||||||||||||||
Duke Energy Ohio | 103 | 105 | 102 | |||||||||||||||||||||||||
Duke Energy Indiana | 38 | 29 | 33 | |||||||||||||||||||||||||
During the third quarter of 2014, the North Carolina gross receipts tax was terminated due to the North Carolina Tax Simplification and Rate Reduction Act. The North Carolina gross receipts tax is no longer imposed effective July 1, 2014. | ||||||||||||||||||||||||||||
On July 23, 2013, North Carolina House Bill 998 (HB 998) was signed into law. HB 998 repealed the utility franchise tax effective July 1, 2014. The utility franchise tax was 3.22 percent gross receipts tax on sales of electricity. The result of this change in law will be an annual reduction in excise taxes of approximately $160 million for Duke Energy Carolinas and approximately $110 million for Duke Energy Progress. HB 998 also increases sales tax on electricity from 3 percent to 7 percent effective July 1, 2014. HB 998 requires the NCUC to adjust retail electric rates for the elimination of the utility franchise tax, changes due to the increase in sales tax on electricity, and the resulting change in liability of utility companies under the general franchise tax. | ||||||||||||||||||||||||||||
Foreign Currency Translation | ||||||||||||||||||||||||||||
The local currencies of most of Duke Energy’s foreign operations have been determined to be their functional currencies. However, certain foreign operations’ functional currency has been determined to be the U.S. dollar, based on an assessment of the economic circumstances of the foreign operation. Assets and liabilities of foreign operations whose functional currency is not the U.S. dollar are translated into U.S. dollars at the exchange rates in effect at period end. Translation adjustments resulting from changes in exchange rates are included in AOCI. Revenue and expense accounts are translated at average exchange rates during the year. Remeasurement gains and losses arising from balances and transactions denominated in currencies other than the local currency are included in the results of operations when they occur. | ||||||||||||||||||||||||||||
Dividend Restrictions and Unappropriated Retained Earnings | ||||||||||||||||||||||||||||
Duke Energy does not have any legal, regulatory or other restrictions on paying common stock dividends to shareholders. However, as further described in Note 4, due to conditions established by regulators in conjunction with merger transaction approvals, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana have restrictions on paying dividends or otherwise advancing funds to Duke Energy. At December 31, 2014 and 2013, an insignificant amount of Duke Energy’s consolidated Retained earnings balance represents undistributed earnings of equity method investments. | ||||||||||||||||||||||||||||
New Accounting Standards | ||||||||||||||||||||||||||||
The new accounting standards that were adopted for 2014, 2013 and 2012 had no significant impact on the presentation or results of operations, cash flows or financial position of the Duke Energy Registrants. Disclosures have been enhanced to provide a discussion and tables on derivative contracts subject to enforceable master netting agreements and a table of quantitative disclosures about unobservable inputs. See Notes 14 and 16 for further information. | ||||||||||||||||||||||||||||
The following new Accounting Standards Updates (ASUs) have been issued, but have not yet been adopted by the Duke Energy Registrants, as of December 31, 2014. | ||||||||||||||||||||||||||||
ASC 205 — Reporting Discontinued Operations. In April 2014, the Financial Accounting Standards Board (FASB) issued revised accounting guidance for reporting discontinued operations. A discontinued operation would be either (i) a component of an entity or a group of components of an entity that represents a separate major line of business or major geographical area of operations that either has been disposed of or is part of a single coordinated plan to be classified as held for sale or (ii) a business that, on acquisition, meets the criteria to be classified as held for sale. | ||||||||||||||||||||||||||||
For the Duke Energy Registrants, this guidance is effective on a prospective basis for interim and annual periods beginning January 1, 2015. This guidance will also result in increased disclosures for discontinued operations or disposals of individually significant components that are not classified as discontinued operations. In general, this guidance is likely to result in fewer disposals of assets qualifying as discontinued operations. | ||||||||||||||||||||||||||||
ASC 606 — Revenue from Contracts with Customers. In May 2014, the FASB issued revised accounting guidance for revenue recognition from contracts with customers. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this update also require disclosure of sufficient information to allow users to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. | ||||||||||||||||||||||||||||
For the Duke Energy Registrants, this guidance is effective for interim and annual periods beginning January 1, 2017. Duke Energy is currently evaluating the requirements. The ultimate impact of the new standard has not yet been determined. |
Acquisitions_Dispositions_and_
Acquisitions, Dispositions and Sales of Other Assets | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Business Combinations [Abstract] | ||||||||||||||||||||||||||||
Acquisitions, Dispositions and Sales of Other Assets | ACQUISITIONS, DISPOSITIONS AND SALES OF OTHER ASSETS | |||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
Purchase of NCEMPA's Generation | ||||||||||||||||||||||||||||
On September 5, 2014, Duke Energy Progress executed an agreement to purchase North Carolina Eastern Municipal Power Agency’s (NCEMPA) ownership interests in certain generating assets jointly owned with and operated by Duke Energy Progress. The agreement provides for the acquisition of a total of approximately 700 megawatts (MW) at Brunswick Nuclear Station (Brunswick), Shearon Harris Nuclear Station (Harris), Mayo Steam Station and Roxboro Steam Station. The purchase price for the ownership interest and fuel and spare parts inventory is approximately $1.2 billion. Under the agreement, Duke Energy Progress and NCEMPA will enter into a 30-year wholesale power supply agreement to continue meeting the needs of NCEMPA’s customers. Closing of the transaction is subject to certain conditions, including state and federal regulatory approvals and legislative action required prior to completing the transaction. On December 9, 2014, the FERC approved Duke Energy Progress' request to purchase NCEMPA's interests in the generation assets, approved Duke Energy Progress' 30-year wholesale power supply agreement with NCEMPA, and approved Duke Energy Progress' inclusion of the acquisition adjustment resulting from the asset purchase in wholesale power formula rates. The transaction is expected to close by the end of 2015 or early 2016. | ||||||||||||||||||||||||||||
Merger with Progress Energy | ||||||||||||||||||||||||||||
On July 2, 2012, Duke Energy completed its merger with Progress Energy, a North Carolina corporation engaged in the regulated utility business of generation, transmission and distribution and sale of electricity in portions of North Carolina, South Carolina and Florida. As a result of the merger, Progress Energy became a wholly owned subsidiary of Duke Energy. | ||||||||||||||||||||||||||||
The merger between Duke Energy and Progress Energy provides increased scale and diversity with potentially enhanced access to capital over the long term and a greater ability to undertake the significant construction programs necessary to respond to increasing environmental regulation, plant retirements and customer demand growth. Duke Energy’s business risk profile is expected to improve over time due to the increased proportion of the business that is regulated. Additionally, cost savings, efficiencies and other benefits are expected from the combined operations. | ||||||||||||||||||||||||||||
Purchase Price | ||||||||||||||||||||||||||||
Total consideration transferred was based on the closing price of Duke Energy common shares on July 2, 2012, and was calculated as shown in the following table. | ||||||||||||||||||||||||||||
(dollars in millions, except per share amounts; shares in thousands) | ||||||||||||||||||||||||||||
Progress Energy common shares outstanding at July 2, 2012 | 296,116 | |||||||||||||||||||||||||||
Exchange ratio | 0.87083 | |||||||||||||||||||||||||||
Duke Energy common shares issued for Progress Energy common shares outstanding | 257,867 | |||||||||||||||||||||||||||
Closing price of Duke Energy common shares on July 2, 2012 | $ | 69.84 | ||||||||||||||||||||||||||
Purchase price for common stock | $ | 18,009 | ||||||||||||||||||||||||||
Fair value of outstanding earned stock compensation awards | 62 | |||||||||||||||||||||||||||
Total purchase price | $ | 18,071 | ||||||||||||||||||||||||||
Progress Energy’s stock-based compensation awards, including performance shares and restricted stock, were replaced with Duke Energy awards upon consummation of the merger. In accordance with accounting guidance for business combinations, a portion of the fair value of these awards is included in the purchase price as it represents consideration transferred in the merger. | ||||||||||||||||||||||||||||
Purchase Price Allocation | ||||||||||||||||||||||||||||
Fair value of assets acquired and liabilities assumed was determined based on significant estimates and assumptions, including Level 3 inputs, which are judgmental in nature. Estimates and assumptions include the projected timing and amount of future cash flows, discount rates reflecting risk inherent in future cash flows, and future market prices. | ||||||||||||||||||||||||||||
Additionally, the February 5, 2013 announcement of the decision to retire Crystal River Unit 3 reflected additional information related to facts and circumstances existing as of the acquisition date. See Note 4 for additional information related to Crystal River Unit 3. As such, Duke Energy presents assets acquired and liabilities assumed as if the retirement of Crystal River Unit 3 occurred on the acquisition date. | ||||||||||||||||||||||||||||
The majority of Progress Energy’s operations are subject to the rate-setting authority of the FERC, NCUC, PSCSC, and FPSC and are accounted for pursuant to U.S. GAAP, including the accounting guidance for regulated operations. Rate-setting and cost recovery provisions currently in place for Progress Energy’s regulated operations provide revenues derived from costs, including a return on investment of assets and liabilities included in rate base. Except for long-term debt, asset retirement obligations, capital leases, pension and other post-retirement benefit obligations (OPEB), and the wholesale portion of Crystal River Unit 3, fair values of tangible and intangible assets and liabilities subject to these rate-setting provisions approximate their carrying values. Accordingly, assets acquired and liabilities assumed and pro forma financial information do not reflect any net adjustments related to these amounts. The difference between fair value and pre-merger carrying amounts for long-term debt, asset retirement obligations, capital leases and pension and OPEB plans for regulated operations were recorded as Regulatory assets. | ||||||||||||||||||||||||||||
The excess of purchase price over estimated fair values of assets acquired and liabilities assumed was recognized as goodwill at the acquisition date. The goodwill reflects the value paid primarily for long-term potential for enhanced access to capital as a result of increased scale and diversity, opportunities for synergies, and an improved risk profile. Goodwill resulting from the merger was allocated entirely to the Regulated Utilities segment. None of the goodwill recognized is deductible for income tax purposes, and as such, no deferred taxes have been recorded related to goodwill. | ||||||||||||||||||||||||||||
The completed purchase price allocation is presented in the following table. | ||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Current assets | $ | 3,204 | ||||||||||||||||||||||||||
Property, plant and equipment | 23,141 | |||||||||||||||||||||||||||
Goodwill | 12,469 | |||||||||||||||||||||||||||
Other long-term assets | 9,990 | |||||||||||||||||||||||||||
Total assets | 48,804 | |||||||||||||||||||||||||||
Current liabilities, including current maturities of long-term debt | 3,593 | |||||||||||||||||||||||||||
Long-term liabilities, preferred stock and noncontrolling interests | 10,394 | |||||||||||||||||||||||||||
Long-term debt | 16,746 | |||||||||||||||||||||||||||
Total liabilities and preferred stock | 30,733 | |||||||||||||||||||||||||||
Total purchase price | $ | 18,071 | ||||||||||||||||||||||||||
The purchase price allocation in the table above reflects refinements made to preliminary fair values of assets acquired and liabilities assumed as of December 31, 2012. These refinements include adjustments associated with the retirement of Crystal River Unit 3. The changes resulted in an increase to Goodwill of $2 million, an increase to the fair value of Current liabilities, including current maturities of long-term debt of $12 million, a decrease to Property, plant and equipment of $138 million, a decrease to Other long-term assets of $4 million and a decrease to Long-term liabilities, preferred stock and noncontrolling interests of $152 million. These refinements had no impact on the amortization of purchase accounting adjustments recorded to earnings during the year ended December 31, 2013, or for the six months ended December 31, 2012. | ||||||||||||||||||||||||||||
Pro Forma Financial Information | ||||||||||||||||||||||||||||
The following unaudited pro forma financial information reflects the consolidated results of operations of Duke Energy and the amortization of purchase price adjustments assuming the merger had taken place on January 1, 2012. The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or future consolidated results of operations of Duke Energy. | ||||||||||||||||||||||||||||
Non-recurring merger consummation, integration and other costs incurred by Duke Energy and Progress Energy during the period have been excluded from pro forma earnings presented below. After-tax non-recurring merger consummation, integration and other costs incurred by both Duke Energy and Progress Energy were $413 million for the year ended 2012. The pro forma financial information also excludes potential future cost savings or non-recurring charges related to the merger. | ||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||
(in millions, except per share amounts) | 2012 | |||||||||||||||||||||||||||
Revenues | $ | 23,976 | ||||||||||||||||||||||||||
Net Income Attributable to Duke Energy Corporation | 2,417 | |||||||||||||||||||||||||||
Basic and Diluted Earnings Per Share | 3.43 | |||||||||||||||||||||||||||
Accounting Charges Related to the Merger Consummation | ||||||||||||||||||||||||||||
The following pretax consummation charges were recognized upon closing of the merger and are included in the Duke Energy Registrants’ Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2012. | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
FERC Mitigation | $ | 117 | $ | 46 | $ | 71 | $ | 71 | $ | — | $ | — | $ | — | ||||||||||||||
Severance costs | 196 | 63 | 82 | 55 | 27 | 21 | 18 | |||||||||||||||||||||
Community support, charitable | 169 | 79 | 74 | 63 | 11 | 7 | 6 | |||||||||||||||||||||
contributions and other | ||||||||||||||||||||||||||||
Total | $ | 482 | $ | 188 | $ | 227 | $ | 189 | $ | 38 | $ | 28 | $ | 24 | ||||||||||||||
FERC Mitigation charges reflect the portion of transmission project costs probable of disallowance, impairment of the carrying value of the generation assets serving Interim FERC Mitigation, and mark-to-market losses recognized on power sale agreements upon closing of the merger. Charges related to transmission projects and impairment of the carrying value of generation assets were recorded within Impairment charges in the Consolidated Statements of Operations. Mark-to-market losses on interim power sale agreements was recorded in Regulated electric operating revenues in the Consolidated Statements of Operations. Subsequent changes in fair value of interim power sale agreements over the life of the contracts and realized gains or losses on interim contract sales are also recorded within Regulated electric operating revenues. The ability to successfully defend future recovery of a portion of transmission projects in rates and any future changes to estimated transmission project costs could impact the amount not expected to be recovered. | ||||||||||||||||||||||||||||
In conjunction with the merger, in November 2011, Duke Energy and Progress Energy each offered a voluntary severance plan (VSP) to certain eligible employees. VSP and other severance costs incurred were recorded primarily within Operation, maintenance and other in the Consolidated Statements of Operations. See Note 19 for further information related to employee severance expenses. | ||||||||||||||||||||||||||||
Community support, charitable contributions and other reflect (i) the unconditional obligation to provide funding at a level comparable to historic practices over the next four years, and (ii) financial and legal advisory costs incurred upon the closing of the merger, retention and relocation costs paid to certain employees. These charges were recorded within Operation, maintenance and other in the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
Impact of Merger | ||||||||||||||||||||||||||||
The impact of Progress Energy on Duke Energy’s revenues and net income attributable to Duke Energy in the Consolidated Statements of Operations for the year ended December 31, 2012 was an increase of $4,943 million and $368 million, respectively. | ||||||||||||||||||||||||||||
Chilean Operations | ||||||||||||||||||||||||||||
In December 2012, Duke Energy acquired Iberoamericana de Energía Ibener, S.A. (Ibener) of Santiago, Chile, for cash consideration of $415 million. This acquisition included the 140 MW Duqueco hydroelectric generation complex consisting of two run-of-the-river plants located in southern Chile. Purchase price allocation consisted primarily of $383 million of property, plant and equipment, $30 million of intangible assets, $57 million of deferred income tax liabilities, $54 million of goodwill and $8 million of working capital. | ||||||||||||||||||||||||||||
DISPOSITIONS | ||||||||||||||||||||||||||||
Midwest Generation Exit | ||||||||||||||||||||||||||||
On August 21, 2014, Duke Energy Commercial Enterprises, Inc., an indirect wholly owned subsidiary of Duke Energy Corporation, and Duke Energy SAM, LLC, a wholly owned subsidiary of Duke Energy Ohio, entered into a PSA with a subsidiary of Dynegy whereby Dynegy will acquire Duke Energy’s Disposal Group for approximately $2.8 billion in cash subject to adjustments at closing for changes in working capital and capital expenditures. The completion of the transaction is conditioned on approval by FERC. On January 16, 2015, FERC issued a letter requesting additional information in connection with the transaction application. The request was for further economic analysis relating to the combined market power impacts of the proposed transaction and Dynegy's simultaneous acquisition of other assets in the PJM Interconnection, LLC (PJM) market, and information relating to rate protections for Dynegy's customers. On February 6, 2015, Duke Energy and Dynegy made two filings with FERC. The first filing provided additional information requested by FERC. The second filing provided information related to Dynegy's settlement agreement with the Independent Market Monitor for PJM, which no longer opposes the proposed transaction. The transaction is expected to close by the end of the second quarter of 2015. | ||||||||||||||||||||||||||||
The Disposal Group is included in the Commercial Power segment. The following table presents information related to the Duke Energy Ohio generation plants included in the Disposal Group. | ||||||||||||||||||||||||||||
Facility | Plant Type | Primary Fuel | Location | Total MW Capacity(c) | Owned MW Capacity(c) | Ownership Interest | ||||||||||||||||||||||
Stuart(a)(b) | Fossil Steam | Coal | OH | 2,308 | 900 | 39 | % | |||||||||||||||||||||
Zimmer(a) | Fossil Steam | Coal | OH | 1,300 | 605 | 46.5 | % | |||||||||||||||||||||
Hanging Rock | Combined Cycle | Gas | OH | 1,226 | 1,226 | 100 | % | |||||||||||||||||||||
Miami Fort (Units 7 and 8)(a) | Fossil Steam | Coal | OH | 1,020 | 652 | 64 | % | |||||||||||||||||||||
Conesville(a)(b) | Fossil Steam | Coal | OH | 780 | 312 | 40 | % | |||||||||||||||||||||
Washington | Combined Cycle | Gas | OH | 617 | 617 | 100 | % | |||||||||||||||||||||
Fayette | Combined Cycle | Gas | PA | 614 | 614 | 100 | % | |||||||||||||||||||||
Killen(a)(b) | Fossil Steam | Coal | OH | 600 | 198 | 33 | % | |||||||||||||||||||||
Lee | Combustion Turbine | Gas | IL | 568 | 568 | 100 | % | |||||||||||||||||||||
Dick's Creek | Combustion Turbine | Gas | OH | 136 | 136 | 100 | % | |||||||||||||||||||||
Miami Fort | Combustion Turbine | Oil | OH | 56 | 56 | 100 | % | |||||||||||||||||||||
Total Midwest Generation | 9,225 | 5,884 | ||||||||||||||||||||||||||
(a) | Jointly owned with American Electric Power Generation Resources and/or The Dayton Power & Light Company. | |||||||||||||||||||||||||||
(b) | Station is not operated by Duke Energy Ohio. | |||||||||||||||||||||||||||
(c) | Total MW capacity is based on summer capacity. | |||||||||||||||||||||||||||
The Disposal Group also includes a retail sales business owned by Duke Energy. In the second quarter of 2014, Duke Energy Ohio removed Ohio Valley Electric Corporation's (OVEC) purchase power agreement from the Disposal Group as it no longer intended to sell it with the Disposal Group. Duke Energy Ohio has requested cost-based recovery of its contractual entitlement in OVEC in its 2014 Electric Security Plan (ESP) application filed on May 29, 2014. See Note 4 for information related to the 2014 ESP. | ||||||||||||||||||||||||||||
The assets and associated liabilities of the Disposal Group are classified as held for sale in Duke Energy's and Duke Energy Ohio's Consolidated Balance Sheets at December 31, 2014. | ||||||||||||||||||||||||||||
The results of operations of the Disposal Group are classified as discontinued operations for current and prior periods in the accompanying Consolidated Statements of Operations and Comprehensive Income. Certain immaterial costs that that may be eliminated as a result of the sale have remained in continuing operations. The following table presents the results of discontinued operations. | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Operating Revenues | $ | 1,748 | $ | 1,885 | $ | 1,771 | ||||||||||||||||||||||
Estimated loss on disposition | (929 | ) | — | — | ||||||||||||||||||||||||
(Loss) Income before income taxes | $ | (818 | ) | $ | 141 | $ | 227 | |||||||||||||||||||||
Income tax (benefit) expense | (294 | ) | 56 | 82 | ||||||||||||||||||||||||
(Loss) Income from discontinued operations of the Disposal Group | (524 | ) | 85 | 145 | ||||||||||||||||||||||||
Other, net of tax(a) | (52 | ) | 1 | 26 | ||||||||||||||||||||||||
(Loss) Income from Discontinued Operations, net of tax | $ | (576 | ) | $ | 86 | $ | 171 | |||||||||||||||||||||
(a) | Other discontinued operations relate to prior sales of businesses and includes indemnifications provided for certain legal, tax and environmental matters, and foreign currency translation adjustments. | |||||||||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Operating Revenues | $ | 1,299 | $ | 1,503 | $ | 1,435 | ||||||||||||||||||||||
Estimated loss on disposition | (959 | ) | — | — | ||||||||||||||||||||||||
(Loss) Income before income taxes | $ | (863 | ) | $ | 67 | $ | 195 | |||||||||||||||||||||
Income tax (benefit) expense | (300 | ) | 32 | 65 | ||||||||||||||||||||||||
(Loss) Income from Discontinued Operations, net of tax | $ | (563 | ) | $ | 35 | $ | 130 | |||||||||||||||||||||
The Duke Energy and Duke Energy Ohio held for sale assets include net pretax impairments of approximately $929 million and $959 million, respectively, for the year ended December 31, 2014. The impairment was recorded to write-down the carrying amount of the assets to the estimated fair value of the business, based on the expected selling price to Dynegy less cost to sell. These losses were included in (Loss) Income from Discontinued Operations, net of tax in the Consolidated Statements of Operations and Comprehensive Income. The impairment will be updated, if necessary, based on the final sales price, after any adjustments at closing for working capital and capital expenditures. | ||||||||||||||||||||||||||||
Commercial Power has a revolving credit agreement (RCA) to support the operations of the nonregulated Midwest generation business. Interest expense associated with the RCA has been allocated to discontinued operations. No other interest expense related to corporate level debt has been allocated to discontinued operations. | ||||||||||||||||||||||||||||
The following table presents the Disposal Group's carrying values in the Consolidated Balance Sheets' major classes of Assets held for sale. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Ohio | ||||||||||||||||||||||||||
Current assets | $ | 364 | $ | 316 | ||||||||||||||||||||||||
Investments and other assets | 52 | 46 | ||||||||||||||||||||||||||
Property, plant and equipment | 2,590 | 2,559 | ||||||||||||||||||||||||||
Total assets held for sale | $ | 3,006 | $ | 2,921 | ||||||||||||||||||||||||
Current liabilities | $ | 262 | $ | 246 | ||||||||||||||||||||||||
Deferred credits and other liabilities | 35 | 34 | ||||||||||||||||||||||||||
Total liabilities associated with assets held for sale | $ | 297 | $ | 280 | ||||||||||||||||||||||||
Duke Energy Ohio may continue to have transactions with the Disposal Group after the divestiture is complete depending on when the transaction closes. Duke Energy Ohio has a power purchase agreement with the Disposal Group, which extends through May 2015, for a portion of its standard service offer (SSO) supply requirement. In addition, for a period of up to 12 months, Duke Energy may provide transition services to Dynegy. Duke Energy will be reimbursed for transition services provided. The continuing cash flows are not expected to be material and are not considered direct cash flows. These arrangements do not allow Duke Energy or Duke Energy Ohio to significantly influence the operations of the Disposal Group once the sale is complete. | ||||||||||||||||||||||||||||
See Notes 4 and 5 for a discussion of contingencies related to the Disposal Group that will be retained by Duke Energy Ohio subsequent to the sale. | ||||||||||||||||||||||||||||
Vermillion Generating Station | ||||||||||||||||||||||||||||
On January 12, 2012, after receiving approvals from the FERC and IURC on August 12, 2011 and December 28, 2011, respectively, Duke Energy Vermillion II, LLC (Duke Energy Vermillion), an indirect wholly owned subsidiary of Duke Energy Ohio, completed the sale of its ownership interest in Vermillion Generating Station (Vermillion) to Duke Energy Indiana and Wabash Valley Power Association, Inc. (WVPA). Upon closing of the sale, Duke Energy Indiana held a 62.5 percent interest in Vermillion. Duke Energy Ohio received net proceeds of $82 million, of which $68 million was paid by Duke Energy Indiana. Following the transaction, Duke Energy Indiana retired Gallagher Units 1 and 3 effective February 1, 2012. | ||||||||||||||||||||||||||||
As Duke Energy Indiana is an affiliate of Duke Energy Vermillion, the transaction was accounted for as a transfer between entities under common control with no gain or loss recorded and did not have a significant impact to Duke Energy Ohio’s or Duke Energy Indiana’s results of operations. Proceeds received from Duke Energy Indiana are included in Net proceeds from the sales of other assets on Duke Energy Ohio’s Consolidated Statements of Cash Flows. Cash paid to Duke Energy Ohio is included in Capital expenditures on Duke Energy Indiana’s Consolidated Statements of Cash Flows. Duke Energy Ohio and Duke Energy Indiana recognized non-cash equity transfers of $28 million and $26 million, respectively, in their Consolidated Statements of Common Stockholder’s Equity on the transaction representing the difference between cash exchanged and the net book value of Vermillion. These amounts are not reflected in Duke Energy’s Consolidated Statements of Cash Flows or Consolidated Statements of Equity as the transaction is eliminated in consolidation. | ||||||||||||||||||||||||||||
Proceeds from WVPA are included in Net proceeds from the sales of other assets on Duke Energy Ohio’s Consolidated Statements of Cash Flows and Net proceeds from the sales of equity investments and other assets, and sales of and collections on notes receivable on Duke Energy’s Consolidated Statements of Cash Flows. The sale of the proportionate share of Vermillion to WVPA did not result in a significant gain or loss upon close of the transaction. | ||||||||||||||||||||||||||||
Sales Of Other Assets | ||||||||||||||||||||||||||||
During 2012, Duke Energy received proceeds of $187 million from the sale of non-core business assets within the Commercial Power segment for which no material gain or loss was recognized. |
Business_Segments
Business Segments | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||
Business Segments | BUSINESS SEGMENTS | |||||||||||||||||||||||||||
Duke Energy evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests. Segment income, as discussed below, includes intercompany revenues and expenses that are eliminated in the Consolidated Financial Statements. Certain governance costs are allocated to each segment. In addition, direct interest expense and income taxes are included in segment income. | ||||||||||||||||||||||||||||
Operating segments are determined based on information used by the chief operating decision maker in deciding how to allocate resources and evaluate the performance. | ||||||||||||||||||||||||||||
Products and services are sold between affiliate companies and reportable segments of Duke Energy at cost. Segment assets as presented in the tables that follow exclude all intercompany assets. | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Duke Energy has the following reportable operating segments: Regulated Utilities, International Energy and Commercial Power. | ||||||||||||||||||||||||||||
Regulated Utilities conducts operations primarily through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and the regulated transmission and distribution operations of Duke Energy Ohio. These electric and natural gas operations are subject to the rules and regulations of the FERC, NCUC, PSCSC, FPSC, PUCO, IURC and KPSC. Substantially all of Regulated Utilities’ operations are regulated and, accordingly, these operations qualify for regulatory accounting treatment. | ||||||||||||||||||||||||||||
International Energy principally operates and manages power generation facilities and engages in sales and marketing of electric power, natural gas and natural gas liquids outside the U.S. Its activities principally target power generation in Latin America. Additionally, International Energy owns a 25 percent interest in National Methanol Company (NMC), a large regional producer of methyl tertiary butyl ether (MTBE) located in Saudi Arabia. The investment in NMC is accounted for under the equity method of accounting. | ||||||||||||||||||||||||||||
Commercial Power builds, develops and operates renewable generation and energy transmission projects throughout the continental U.S. As discussed in Note 2, Duke Energy entered into an agreement to sell Commercial Power's nonregulated Midwest generation business to Dynegy in a transaction that is expected to close during the second quarter of 2015. As a result of this divestiture, the results of operations of the nonregulated Midwest generation business have been reclassified to Discontinued Operations on the Consolidated Statements of Operations. Certain costs such as interest and general and administrative expenses previously allocated to the Disposal Group were not reclassified to discontinued operations. | ||||||||||||||||||||||||||||
The remainder of Duke Energy’s operations is presented as Other. While it is not an operating segment, Other primarily includes unallocated corporate interest expense, certain unallocated corporate costs, Bison Insurance Company Limited (Bison), Duke Energy’s wholly owned, captive insurance subsidiary, and contributions to the Duke Energy Foundation. On December 31, 2013, Duke Energy sold its interest in DukeNet Communications Holdings, LLC (DukeNet) to Time Warner Cable, Inc. | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | |||||||||||||||||||||
Unaffiliated Revenues | $ | 22,228 | $ | 1,417 | $ | 255 | $ | 23,900 | $ | 25 | $ | — | $ | 23,925 | ||||||||||||||
Intersegment Revenues | 43 | — | — | 43 | 80 | (123 | ) | — | ||||||||||||||||||||
Total Revenues | $ | 22,271 | $ | 1,417 | $ | 255 | $ | 23,943 | $ | 105 | $ | (123 | ) | $ | 23,925 | |||||||||||||
Interest Expense | $ | 1,093 | $ | 93 | $ | 58 | $ | 1,244 | $ | 400 | $ | (22 | ) | $ | 1,622 | |||||||||||||
Depreciation and amortization | 2,759 | 97 | 92 | 2,948 | 118 | — | 3,066 | |||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | (3 | ) | 120 | 10 | 127 | 3 | — | 130 | ||||||||||||||||||||
Income tax expense (benefit)(a) | 1,628 | 449 | (171 | ) | 1,906 | (237 | ) | — | 1,669 | |||||||||||||||||||
Segment income(b)(c)(d) | 2,795 | 55 | (55 | ) | 2,795 | (334 | ) | (10 | ) | 2,451 | ||||||||||||||||||
Add back noncontrolling interest component | 14 | |||||||||||||||||||||||||||
Loss from discontinued operations, net of tax | (576 | ) | ||||||||||||||||||||||||||
Net income | $ | 1,889 | ||||||||||||||||||||||||||
Capital investments expenditures and acquisitions | $ | 4,744 | $ | 67 | $ | 555 | $ | 5,366 | $ | 162 | $ | — | $ | 5,528 | ||||||||||||||
Segment Assets | 106,657 | 5,132 | 6,278 | 118,067 | 2,453 | 189 | 120,709 | |||||||||||||||||||||
(a) | International Energy includes a tax adjustment of $373 million related to deferred tax impact resulting from the decision to repatriate all cumulative historical undistributed foreign earnings. See Note 22 for additional information. | |||||||||||||||||||||||||||
(b) | Commercial Power recorded a pretax impairment charge of $94 million related to OVEC. See Note 11 for additional information. | |||||||||||||||||||||||||||
(c) | Other includes costs to achieve the Progress Energy merger. See Notes 2 and 25 for additional information about the merger and related costs. | |||||||||||||||||||||||||||
(d) | Regulated Utilities includes an increase in the litigation reserve related to the criminal investigation of the Dan River coal ash spill. See Note 5 for additional information. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | |||||||||||||||||||||
Unaffiliated Revenues(a)(b)(c) | $ | 20,871 | $ | 1,546 | $ | 254 | $ | 22,671 | $ | 85 | $ | — | $ | 22,756 | ||||||||||||||
Intersegment Revenues | 39 | — | 6 | 45 | 90 | (135 | ) | — | ||||||||||||||||||||
Total Revenues | $ | 20,910 | $ | 1,546 | $ | 260 | $ | 22,716 | $ | 175 | $ | (135 | ) | $ | 22,756 | |||||||||||||
Interest Expense | $ | 986 | $ | 86 | $ | 61 | $ | 1,133 | $ | 416 | $ | (6 | ) | $ | 1,543 | |||||||||||||
Depreciation and amortization | 2,323 | 100 | 110 | 2,533 | 135 | — | 2,668 | |||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | (1 | ) | 110 | 7 | 116 | 6 | — | 122 | ||||||||||||||||||||
Income tax expense (benefit) | 1,522 | 166 | (148 | ) | 1,540 | (335 | ) | — | 1,205 | |||||||||||||||||||
Segment income (a)(b)(c)(d)(e)(f)(g) | 2,504 | 408 | (88 | ) | 2,824 | (238 | ) | (12 | ) | 2,574 | ||||||||||||||||||
Add back noncontrolling interest component | 16 | |||||||||||||||||||||||||||
Income from discontinued operations, net of tax | 86 | |||||||||||||||||||||||||||
Net income | $ | 2,676 | ||||||||||||||||||||||||||
Capital investments expenditures and acquisitions | $ | 5,049 | $ | 67 | $ | 268 | $ | 5,384 | $ | 223 | $ | — | $ | 5,607 | ||||||||||||||
Segment Assets | 99,884 | 4,998 | 6,955 | 111,837 | 2,754 | 188 | 114,779 | |||||||||||||||||||||
(a) | In May 2013, the PUCO approved a Duke Energy Ohio settlement agreement that provides for a net annual increase in electric distribution revenues beginning in May 2013. This rate increase impacts Regulated Utilities. See Note 4 for additional information. | |||||||||||||||||||||||||||
(b) | In June 2013, NCUC approved a Duke Energy Progress settlement agreement that included an increase in rates in the first year beginning in June 2013. This rate increase impacts Regulated Utilities. See Note 4 for additional information. | |||||||||||||||||||||||||||
(c) | In September 2013, Duke Energy Carolinas implemented revised customer rates approved by the NCUC and the PSCSC. These rate increases impact Regulated Utilities. See Note 4 for additional information. | |||||||||||||||||||||||||||
(d) | Regulated Utilities recorded an impairment charge related to Duke Energy Florida's Crystal River Unit 3. See Note 4 for additional information. | |||||||||||||||||||||||||||
(e) | Regulated Utilities recorded an impairment charge related to the letter Duke Energy Progress filed with the NRC requesting the NRC to suspend its review activities associated with the combined construction and operating license (COL) at the Harris site. Regulated Utilities also recorded an impairment charge related to the write-off of the wholesale portion of the Levy investments at Duke Energy Florida in accordance with the 2013 Settlement. See Note 4 for additional information. | |||||||||||||||||||||||||||
(f) | Other includes costs to achieve the Progress Energy merger. See Notes 2 and 25 for additional information about the merger and related costs. | |||||||||||||||||||||||||||
(g) | Other includes gain from the sale of Duke Energy's ownership interest in DukeNet. See Note 12 for additional information on the sale of DukeNet. | |||||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Reportable Segments | Other | Eliminations | Total | |||||||||||||||||||||
Unaffiliated Revenues | $ | 16,042 | $ | 1,549 | $ | 299 | $ | 17,890 | $ | 22 | $ | — | $ | 17,912 | ||||||||||||||
Intersegment Revenues | 38 | — | 8 | 46 | 62 | (108 | ) | — | ||||||||||||||||||||
Total Revenues | $ | 16,080 | $ | 1,549 | $ | 307 | $ | 17,936 | $ | 84 | $ | (108 | ) | $ | 17,912 | |||||||||||||
Interest Expense | $ | 806 | $ | 77 | $ | 63 | $ | 946 | $ | 298 | $ | — | $ | 1,244 | ||||||||||||||
Depreciation and amortization | 1,827 | 99 | 85 | 2,011 | 134 | — | 2,145 | |||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | (5 | ) | 134 | 14 | 143 | 5 | — | 148 | ||||||||||||||||||||
Income tax expense (benefit) | 942 | 149 | (82 | ) | 1,009 | (386 | ) | — | 623 | |||||||||||||||||||
Segment income (a)(b) | 1,744 | 439 | (59 | ) | 2,124 | (523 | ) | (8 | ) | 1,593 | ||||||||||||||||||
Add back noncontrolling interest component | 18 | |||||||||||||||||||||||||||
Income from discontinued operations, net of tax | 171 | |||||||||||||||||||||||||||
Net income | $ | 1,782 | ||||||||||||||||||||||||||
Capital investments expenditures and acquisitions | $ | 4,220 | $ | 551 | $ | 1,038 | $ | 5,809 | $ | 149 | $ | — | $ | 5,958 | ||||||||||||||
Segment Assets | 98,162 | 5,406 | 6,992 | 110,560 | 3,126 | 170 | 113,856 | |||||||||||||||||||||
(a) | Regulated Utilities recorded charges related to Duke Energy Indiana's Integrated Gasification Combined Cycle | |||||||||||||||||||||||||||
(IGCC) project. See Note 4 for additional information about these charges. Regulated Utilities also recorded the reversal of expenses of $60 million, net of tax, related to a prior year Voluntary Opportunity Plan in accordance with Duke Energy Carolinas' 2011 rate case. See Note 19 for additional information about these expenses. | ||||||||||||||||||||||||||||
(b) | Other includes costs to achieve the Progress Energy merger. See Notes 2 and 25 for additional information about the merger and related costs. | |||||||||||||||||||||||||||
Geographical Information | ||||||||||||||||||||||||||||
(in millions) | U.S. | Latin America(a) | Consolidated | |||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||
Consolidated revenues | $ | 22,508 | $ | 1,417 | $ | 23,925 | ||||||||||||||||||||||
Consolidated long-lived assets | 80,709 | 2,458 | 83,167 | |||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Consolidated revenues | $ | 21,211 | $ | 1,545 | $ | 22,756 | ||||||||||||||||||||||
Consolidated long-lived assets | 78,581 | 2,781 | 81,362 | |||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Consolidated revenues | $ | 16,366 | $ | 1,546 | $ | 17,912 | ||||||||||||||||||||||
Consolidated long-lived assets | 79,144 | 2,467 | 81,611 | |||||||||||||||||||||||||
(a) | Change in amounts of long-lived assets in Latin America includes foreign currency translation adjustments on property, plant and equipment and other long-lived asset balances. | |||||||||||||||||||||||||||
Products and Services | ||||||||||||||||||||||||||||
(in millions) | Retail Electric | Wholesale Electric | Retail Natural Gas | Wholesale Natural Gas | Other | Total Revenues | ||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||
Regulated Utilities | $ | 19,007 | $ | 1,879 | $ | 571 | $ | — | $ | 814 | $ | 22,271 | ||||||||||||||||
International Energy | — | 1,326 | — | 91 | — | 1,417 | ||||||||||||||||||||||
Commercial Power | — | 255 | — | — | — | 255 | ||||||||||||||||||||||
Total Reportable Segments | $ | 19,007 | $ | 3,460 | $ | 571 | $ | 91 | $ | 814 | $ | 23,943 | ||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Regulated Utilities | $ | 17,837 | $ | 1,720 | $ | 506 | $ | — | $ | 847 | $ | 20,910 | ||||||||||||||||
International Energy | — | 1,447 | — | 99 | — | 1,546 | ||||||||||||||||||||||
Commercial Power | — | 260 | — | — | — | 260 | ||||||||||||||||||||||
Total Reportable Segments | $ | 17,837 | $ | 3,427 | $ | 506 | $ | 99 | $ | 847 | $ | 22,716 | ||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Regulated Utilities | $ | 13,773 | $ | 1,120 | $ | 470 | $ | — | $ | 717 | $ | 16,080 | ||||||||||||||||
International Energy | — | 1,444 | — | 105 | — | 1,549 | ||||||||||||||||||||||
Commercial Power | — | 307 | — | — | — | 307 | ||||||||||||||||||||||
Total Reportable Segments | $ | 13,773 | $ | 2,871 | $ | 470 | $ | 105 | $ | 717 | $ | 17,936 | ||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||
Duke Energy Ohio has two reportable operating segments, Regulated Utilities and Commercial Power. | ||||||||||||||||||||||||||||
Regulated Utilities transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Kentucky. Regulated Utilities also transports and sells natural gas in portions of Ohio and northern Kentucky. It conducts operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky. | ||||||||||||||||||||||||||||
As discussed in Note 2, Duke Energy entered into an agreement to sell Commercial Power's nonregulated Midwest generation business to Dynegy in a transaction that is expected to close in the second quarter of 2015. As a result of this divestiture, the results of operations of the nonregulated Midwest generation business have been reclassified to Discontinued Operations on the Consolidated Statements of Operations and Comprehensive Income. Amounts remaining in Commercial Power relate to assets not included in the Disposal Group. Certain costs such as interest and general and administrative expenses previously allocated to the Disposal Group were not reclassified to discontinued operations. | ||||||||||||||||||||||||||||
The remainder of Duke Energy Ohio’s operations is presented as Other. While it is not considered an operating segment, Other primarily includes certain governance costs allocated by its parent, Duke Energy. See Note 13 for additional information. All of Duke Energy Ohio’s revenues are generated domestically and its long-lived assets are all in the U.S. | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | ||||||||||||||||||||||
Unaffiliated revenues | $ | 1,894 | $ | 19 | $ | 1,913 | $ | — | $ | — | $ | 1,913 | ||||||||||||||||
Intersegment revenues | 1 | — | 1 | — | (1 | ) | — | |||||||||||||||||||||
Total revenues | $ | 1,895 | $ | 19 | $ | 1,914 | $ | — | $ | (1 | ) | $ | 1,913 | |||||||||||||||
Interest expense | $ | 81 | $ | 5 | $ | 86 | $ | — | $ | — | $ | 86 | ||||||||||||||||
Depreciation and amortization | 211 | 2 | 213 | 1 | — | 214 | ||||||||||||||||||||||
Income tax expense (benefit) | 117 | (67 | ) | 50 | (7 | ) | — | 43 | ||||||||||||||||||||
Segment income (loss)(a) | 202 | (121 | ) | 81 | (13 | ) | — | 68 | ||||||||||||||||||||
Income from discontinued operations, net of tax | (563 | ) | ||||||||||||||||||||||||||
Net loss | $ | (495 | ) | |||||||||||||||||||||||||
Capital expenditures | $ | 300 | $ | 22 | $ | 322 | $ | — | $ | — | $ | 322 | ||||||||||||||||
Segment assets | 6,908 | 3,187 | 10,095 | 134 | (230 | ) | 9,999 | |||||||||||||||||||||
(a) | Commercial Power recorded a pretax impairment charge of $94 million related to OVEC. See Note 11 for additional information. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | ||||||||||||||||||||||
Unaffiliated revenues | $ | 1,765 | $ | 40 | $ | 1,805 | $ | — | $ | — | $ | 1,805 | ||||||||||||||||
Total revenues | $ | 1,765 | $ | 40 | $ | 1,805 | $ | — | $ | — | $ | 1,805 | ||||||||||||||||
Interest expense | $ | 74 | $ | — | $ | 74 | $ | — | $ | — | $ | 74 | ||||||||||||||||
Depreciation and amortization | 200 | 13 | 213 | — | — | 213 | ||||||||||||||||||||||
Income tax expense (benefit) | 91 | (36 | ) | 55 | (12 | ) | — | 43 | ||||||||||||||||||||
Segment income (loss) | 151 | (65 | ) | 86 | (19 | ) | — | 67 | ||||||||||||||||||||
Income from discontinued operations, net of tax | 35 | |||||||||||||||||||||||||||
Net income | $ | 102 | ||||||||||||||||||||||||||
Capital expenditures | $ | 375 | $ | 58 | $ | 433 | $ | — | $ | — | $ | 433 | ||||||||||||||||
Segment assets | 6,649 | 4,170 | 10,819 | 99 | (155 | ) | 10,763 | |||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | ||||||||||||||||||||||
Unaffiliated revenues | $ | 1,745 | $ | 75 | $ | 1,820 | $ | — | $ | — | $ | 1,820 | ||||||||||||||||
Intersegment revenues | 1 | 1 | 2 | — | (2 | ) | — | |||||||||||||||||||||
Total revenues | $ | 1,746 | $ | 76 | $ | 1,822 | $ | — | $ | (2 | ) | $ | 1,820 | |||||||||||||||
Interest expense | $ | 61 | $ | 28 | $ | 89 | $ | — | $ | — | $ | 89 | ||||||||||||||||
Depreciation and amortization | 179 | 16 | 195 | — | — | 195 | ||||||||||||||||||||||
Income tax expense (benefit) | 91 | (40 | ) | 51 | (18 | ) | — | 33 | ||||||||||||||||||||
Segment income (loss) | 159 | (80 | ) | 79 | (34 | ) | — | 45 | ||||||||||||||||||||
Income from discontinued operations, net of tax | 130 | |||||||||||||||||||||||||||
Net income | $ | 175 | ||||||||||||||||||||||||||
Capital expenditures | $ | 427 | $ | 87 | $ | 514 | $ | — | $ | — | $ | 514 | ||||||||||||||||
Segment assets | 6,434 | 4,175 | 10,609 | 117 | (166 | ) | 10,560 | |||||||||||||||||||||
DUKE ENERGY CAROLINAS, PROGRESS ENERGY, DUKE ENERGY PROGRESS, DUKE ENERGY FLORIDA AND DUKE ENERGY INDIANA | ||||||||||||||||||||||||||||
Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana each have one reportable operating segment, Regulated Utility, which generates, transmits, distributes and sells electricity. The remainder of each company’s operations is classified as Other. While not considered a reportable segment for any of these companies, Other consists of certain unallocated corporate costs. Other for Progress Energy also includes interest expense on corporate debt instruments of $241 million, $300 million and $304 million for the years ended December 31, 2014, 2013 and 2012. The following table summarizes the net loss for Other for each of these entities. | ||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Duke Energy Carolinas | $ | (79 | ) | $ | (97 | ) | $ | (169 | ) | |||||||||||||||||||
Progress Energy | (190 | ) | (241 | ) | (379 | ) | ||||||||||||||||||||||
Duke Energy Progress | (31 | ) | (46 | ) | (139 | ) | ||||||||||||||||||||||
Duke Energy Florida | (19 | ) | (24 | ) | (58 | ) | ||||||||||||||||||||||
Duke Energy Indiana | (11 | ) | (16 | ) | (27 | ) | ||||||||||||||||||||||
Duke Energy Progress earned approximately 11 percent of its consolidated operating revenues from North Carolina Electric Membership Corporation (NCEMC) in 2014. These revenues relate to wholesale contracts and transmission revenues. The respective Regulated Utility and Regulated Utilities operating segments own substantially all of Duke Energy Carolinas’, Progress Energy’s, Duke Energy Progress’, Duke Energy Florida’s and Duke Energy Indiana’s assets at December 31, 2014, 2013 and 2012. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Regulated Operations [Abstract] | ||||||||||||||||||||||||||||
Regulatory Matters | REGULATORY MATTERS | |||||||||||||||||||||||||||
Regulatory Assets and Liabilities | ||||||||||||||||||||||||||||
The Duke Energy Registrants record regulatory assets and liabilities that result from the ratemaking process. See Note 1 for further information. | ||||||||||||||||||||||||||||
The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Assets | ||||||||||||||||||||||||||||
Asset retirement obligations | $ | 3,017 | $ | 907 | $ | 1,882 | $ | 1,584 | $ | 298 | $ | — | $ | — | ||||||||||||||
Accrued pension and OPEB | 2,015 | 412 | 812 | 354 | 458 | 132 | 217 | |||||||||||||||||||||
Retired generation facilities | 1,659 | 58 | 1,545 | 152 | 1,393 | — | 56 | |||||||||||||||||||||
Debt fair value adjustment | 1,305 | — | — | — | — | — | — | |||||||||||||||||||||
Net regulatory asset related to income taxes | 1,144 | 614 | 354 | 141 | 213 | 64 | 111 | |||||||||||||||||||||
Hedge costs and other deferrals | 628 | 103 | 490 | 217 | 273 | 7 | 28 | |||||||||||||||||||||
Demand side management (DSM)/Energy efficiency (EE) | 330 | 106 | 203 | 193 | 10 | 21 | — | |||||||||||||||||||||
Grid Modernization | 76 | — | — | — | — | 76 | — | |||||||||||||||||||||
Vacation accrual | 213 | 86 | 46 | 46 | — | 6 | 12 | |||||||||||||||||||||
Deferred fuel | 246 | 50 | 182 | 138 | 44 | 9 | 5 | |||||||||||||||||||||
Nuclear deferral | 296 | 141 | 155 | 43 | 112 | — | — | |||||||||||||||||||||
Post-in-service carrying costs and deferred operating expenses | 494 | 124 | 121 | 28 | 93 | 21 | 228 | |||||||||||||||||||||
Gasification services agreement buyout | 55 | — | — | — | — | — | 55 | |||||||||||||||||||||
Transmission expansion obligation | 70 | — | — | — | — | 74 | — | |||||||||||||||||||||
Manufactured gas plant (MGP) | 115 | — | — | — | — | 115 | — | |||||||||||||||||||||
Other | 494 | 263 | 109 | 66 | 42 | 36 | 66 | |||||||||||||||||||||
Total regulatory assets | 12,157 | 2,864 | 5,899 | 2,962 | 2,936 | 561 | 778 | |||||||||||||||||||||
Less: current portion | 1,115 | 399 | 491 | 287 | 203 | 49 | 93 | |||||||||||||||||||||
Total non-current regulatory assets | $ | 11,042 | $ | 2,465 | $ | 5,408 | $ | 2,675 | $ | 2,733 | $ | 512 | $ | 685 | ||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Liabilities | ||||||||||||||||||||||||||||
Costs of removal | $ | 5,221 | $ | 2,420 | $ | 1,975 | $ | 1,692 | $ | 283 | $ | 222 | $ | 613 | ||||||||||||||
Amounts to be refunded to customers | 166 | — | 70 | — | 70 | — | 96 | |||||||||||||||||||||
Storm reserve | 150 | 25 | 125 | — | 125 | — | — | |||||||||||||||||||||
Accrued pension and OPEB | 379 | 76 | 121 | 61 | 60 | 19 | 91 | |||||||||||||||||||||
Deferred fuel | 37 | 6 | 23 | 23 | — | — | 8 | |||||||||||||||||||||
Other | 444 | 217 | 171 | 127 | 44 | 10 | 42 | |||||||||||||||||||||
Total regulatory liabilities | 6,397 | 2,744 | 2,485 | 1,903 | 582 | 251 | 850 | |||||||||||||||||||||
Less: current portion | 204 | 34 | 106 | 71 | 35 | 10 | 54 | |||||||||||||||||||||
Total non-current regulatory liabilities | $ | 6,193 | $ | 2,710 | $ | 2,379 | $ | 1,832 | $ | 547 | $ | 241 | $ | 796 | ||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Assets | ||||||||||||||||||||||||||||
Asset retirement obligations | $ | 1,608 | $ | 123 | 786 | $ | 389 | $ | 397 | $ | — | $ | — | |||||||||||||||
Accrued pension and OPEB | 1,723 | 347 | 750 | 269 | 438 | 120 | 219 | |||||||||||||||||||||
Retired generation facilities | 1,748 | 68 | 1,619 | 241 | 1,378 | — | 61 | |||||||||||||||||||||
Debt fair value adjustment | 1,338 | — | — | — | — | — | — | |||||||||||||||||||||
Net regulatory asset related to income taxes | 1,115 | 555 | 331 | 113 | 218 | 72 | 157 | |||||||||||||||||||||
Hedge costs and other deferrals | 450 | 98 | 318 | 165 | 153 | 5 | 29 | |||||||||||||||||||||
DSM/EE | 306 | 140 | 152 | 140 | 12 | 14 | — | |||||||||||||||||||||
Grid Modernization | 65 | — | — | — | — | 65 | — | |||||||||||||||||||||
Vacation accrual | 210 | 82 | 55 | 50 | — | 7 | 13 | |||||||||||||||||||||
Deferred fuel | 94 | — | 37 | 6 | 31 | 14 | 43 | |||||||||||||||||||||
Nuclear deferral | 262 | 40 | 222 | 77 | 145 | — | — | |||||||||||||||||||||
Post-in-service carrying costs and deferred operating expenses | 459 | 150 | 137 | 19 | 118 | 21 | 151 | |||||||||||||||||||||
Gasification services agreement buyout | 75 | — | — | — | — | — | 75 | |||||||||||||||||||||
Transmission expansion obligation | 70 | — | — | — | — | 74 | — | |||||||||||||||||||||
MGP | 90 | — | — | — | — | 90 | — | |||||||||||||||||||||
Other | 473 | 219 | 101 | 42 | 60 | 46 | 87 | |||||||||||||||||||||
Total regulatory assets | 10,086 | 1,822 | 4,508 | 1,511 | 2,950 | 528 | 835 | |||||||||||||||||||||
Less: current portion | 895 | 295 | 353 | 127 | 221 | 57 | 118 | |||||||||||||||||||||
Total non-current regulatory assets | $ | 9,191 | $ | 1,527 | $ | 4,155 | $ | 1,384 | $ | 2,729 | $ | 471 | $ | 717 | ||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Liabilities | ||||||||||||||||||||||||||||
Costs of removal | $ | 5,308 | $ | 2,423 | $ | 2,008 | $ | 1,637 | $ | 371 | $ | 241 | $ | 645 | ||||||||||||||
Amounts to be refunded to customers | 151 | — | 120 | — | 120 | — | 31 | |||||||||||||||||||||
Storm reserve | 145 | 20 | 125 | — | 125 | — | — | |||||||||||||||||||||
Accrued pension and OPEB | 138 | — | — | — | — | 21 | 77 | |||||||||||||||||||||
Deferred fuel | 177 | 45 | 132 | — | 132 | — | — | |||||||||||||||||||||
Other | 346 | 153 | 114 | 99 | 14 | 27 | 45 | |||||||||||||||||||||
Total regulatory liabilities | 6,265 | 2,641 | 2,499 | 1,736 | 762 | 289 | 798 | |||||||||||||||||||||
Less: current portion | 316 | 65 | 207 | 63 | 144 | 27 | 16 | |||||||||||||||||||||
Total non-current regulatory liabilities | $ | 5,949 | $ | 2,576 | $ | 2,292 | $ | 1,673 | $ | 618 | $ | 262 | $ | 782 | ||||||||||||||
Descriptions of regulatory assets and liabilities, summarized in the tables above, as well as their recovery and amortization periods follow. Items are excluded from rate base unless otherwise noted. | ||||||||||||||||||||||||||||
Asset retirement obligations. Represents legal obligations associated with the future retirement of property, plant and equipment. Asset retirement obligations relate primarily to decommissioning nuclear power facilities and closure of ash basins in North Carolina and South Carolina. No return is currently earned on these balances. The recovery period for costs related to nuclear facilities runs through the decommissioning period of each nuclear unit, the latest of which is currently estimated to be 2097. The recovery period for costs related to ash basin closures has not yet been determined. See Notes 1 and 9 for additional information. | ||||||||||||||||||||||||||||
Accrued pension and OPEB. Accrued pension and OPEB represent regulatory assets and liabilities related to each of the Duke Energy Registrants’ respective shares of unrecognized actuarial gains and losses, unrecognized prior service cost, and unrecognized transition obligation 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, prior service cost, and transition obligations to net periodic benefit costs for pension and OPEB plans. See Note 21 for additional detail. | ||||||||||||||||||||||||||||
Retired generation facilities. Duke Energy Florida earns a reduced return on a substantial portion of the amount of regulatory asset associated with the retirement of Crystal River Unit 3 not included in rate base and a full return on a portion of the retired plant currently recovered in the nuclear cost recovery clause (NCRC). Once included in base rates the amount will be amortized over 20 years. Duke Energy Carolinas earns a return on the outstanding retail balance with recovery periods ranging from 5 to 10 years. Duke Energy Progress earns a return on the outstanding balance with recovery over a period of 10 years for retail purposes and over the longer of 10 years or the previously estimated planned retirement date for wholesale purposes. Duke Energy Indiana earns a return on the outstanding balances and the costs are included in rate base. | ||||||||||||||||||||||||||||
Debt fair value adjustment. Purchase accounting adjustment to restate the carrying value of Progress Energy debt to fair value. Amount is amortized over the life of the related debt. | ||||||||||||||||||||||||||||
Net regulatory asset related to income taxes. Regulatory assets principally associated with the depreciation and recovery of AFUDC equity. Amounts have no impact on rate base as regulatory assets are offset by deferred tax liabilities. The recovery period is over the life of the associated assets. | ||||||||||||||||||||||||||||
Hedge costs and other deferrals. Amounts relate to unrealized gains and losses on derivatives recorded as a regulatory asset or liability, respectively, until the contracts are settled. The recovery period varies for these costs, and currently extends to 2027. | ||||||||||||||||||||||||||||
DSM/EE. The recovery period varies for these costs, with some currently unknown. Duke Energy Carolinas, Duke Energy Progress, and Duke Energy Florida are required to pay interest on the outstanding liability balance. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida collect a return on DSM/EE investments. | ||||||||||||||||||||||||||||
Grid Modernization. Represents deferred depreciation and operating expenses as well as carrying costs on the portion of capital expenditures placed in service but not yet reflected in retail rates as plant in service. Recovery period is generally one year for depreciation and operating expenses. Recovery for post-in-service carrying costs are over the life of the assets. | ||||||||||||||||||||||||||||
Vacation accrual. Generally recovered within one year. | ||||||||||||||||||||||||||||
Deferred fuel. Deferred fuel costs represent certain energy costs that are recoverable or refundable as approved by the applicable regulatory body. Duke Energy Florida amount includes capacity costs. Duke Energy Florida and Duke Energy Ohio earn a return on under-recovered costs. Duke Energy Florida and Duke Energy Ohio pay interest on over-recovered costs. Duke Energy Carolinas and Duke Energy Progress pay interest on over-recovered costs in North Carolina. Recovery period is generally over one year. Duke Energy Indiana recovery period is quarterly. | ||||||||||||||||||||||||||||
Nuclear deferral. Includes (i) amounts related to levelizing nuclear plant outage costs at Duke Energy Carolinas in North Carolina and South Carolina, and Duke Energy Progress in North Carolina, which allows for the recognition of nuclear outage expenses over the refueling cycle rather than when the outage occurs, resulting in the deferral of operations and maintenance costs associated with refueling and (ii) certain deferred preconstruction and carrying costs at Duke Energy Florida as approved by the FPSC primarily associated with Levy, currently expected to be recovered in revenues by the end of 2017. | ||||||||||||||||||||||||||||
Post-in-service carrying costs and deferred operating expenses. Represents deferred depreciation and operating expenses as well as carrying costs on the portion of capital expenditures placed in service but not yet reflected in retail rates as plant in service. Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana earn a return on the outstanding balance. Duke Energy Florida earns a return at a reduced rate. For Duke Energy Ohio and Duke Energy Indiana, some amounts are included in rate base. Recovery is over various lives, and the latest recovery period is 2081. | ||||||||||||||||||||||||||||
Gasification services agreement buyout. The IURC authorized Duke Energy Indiana to recover costs incurred to buyout a gasification services agreement, including carrying costs through 2018. | ||||||||||||||||||||||||||||
Transmission expansion obligation. Represents transmission expansion obligations related to Duke Energy Ohio’s withdrawal from Midcontinent Independent System Operator, Inc. (MISO). | ||||||||||||||||||||||||||||
MGP. Represents remediation costs for former MGP sites. In November 2013, the PUCO approved recovery of these costs through 2018. Duke Energy Ohio does not earn a return on these costs. See Note 5 for additional information. | ||||||||||||||||||||||||||||
Costs of removal. Represents funds received from customers to cover the future removal of property, plant and equipment from retired or abandoned sites as property is retired. Also includes certain deferred gains on NDTF investments. | ||||||||||||||||||||||||||||
Amounts to be refunded to customers. Represents required rate reductions to retail customers by the applicable regulatory body. The refund period is through 2016 for Duke Energy Florida and through 2017 for Duke Energy Indiana. | ||||||||||||||||||||||||||||
Storm reserve. Duke Energy Carolinas and Duke Energy Florida are allowed to petition the PSCSC and FPSC, respectively, to seek recovery of named storms. Funds are used to offset future incurred costs. | ||||||||||||||||||||||||||||
Restrictions on the Ability of Certain Subsidiaries to Make Dividends, Advances and Loans to Duke Energy | ||||||||||||||||||||||||||||
As a condition to the approval of merger transactions, the NCUC, PSCSC, PUCO, KPSC and IURC imposed conditions on the ability of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Kentucky and Duke Energy Indiana to transfer funds to Duke Energy through loans or advances, as well as restricted amounts available to pay dividends to Duke Energy. Certain subsidiaries may transfer funds to Duke Energy Corporation Holding Company (the parent) by obtaining approval of the respective state regulatory commissions. These conditions imposed restrictions on the ability of the public utility subsidiaries to pay cash dividends as discussed below. | ||||||||||||||||||||||||||||
Duke Energy Progress and Duke Energy Florida also have restrictions imposed by their first mortgage bond indentures and Articles of Incorporation which, in certain circumstances, limit their ability to make cash dividends or distributions on common stock. Amounts restricted as a result of these provisions were not material at December 31, 2014. | ||||||||||||||||||||||||||||
Additionally, certain other subsidiaries of Duke Energy have restrictions on their ability to dividend, loan or advance funds to Duke Energy due to specific legal or regulatory restrictions, including, but not limited to, minimum working capital and tangible net worth requirements. | ||||||||||||||||||||||||||||
Duke Energy Carolinas | ||||||||||||||||||||||||||||
Duke Energy Carolinas must limit cumulative distributions subsequent to mergers to (i) the amount of retained earnings on the day prior to the closing of the mergers, plus (ii) any future earnings recorded. | ||||||||||||||||||||||||||||
Duke Energy Progress | ||||||||||||||||||||||||||||
Duke Energy Progress must limit cumulative distributions subsequent to the merger between Duke Energy and Progress Energy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded. | ||||||||||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||
Duke Energy Ohio will not declare and pay dividends out of capital or unearned surplus without the prior authorization of the PUCO. Duke Energy Ohio received FERC and PUCO approval to pay dividends from its equity accounts that are reflective of the amount that it would have in its retained earnings account had push-down accounting for the Cinergy Corp. (Cinergy) merger not been applied to Duke Energy Ohio’s balance sheet. The conditions include a commitment from Duke Energy Ohio that equity, adjusted to remove the impacts of push-down accounting, will not fall below 30 percent of total capital. | ||||||||||||||||||||||||||||
Duke Energy Kentucky is required to pay dividends solely out of retained earnings and to maintain a minimum of 35 percent equity in its capital structure. | ||||||||||||||||||||||||||||
Duke Energy Indiana | ||||||||||||||||||||||||||||
Duke Energy Indiana must limit cumulative distributions subsequent to the merger between Duke Energy and Cinergy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded. In addition, Duke Energy Indiana will not declare and pay dividends out of capital or unearned surplus without prior authorization of the IURC. | ||||||||||||||||||||||||||||
The restrictions discussed above were less than 25 percent of Duke Energy's net assets at December 31, 2014. | ||||||||||||||||||||||||||||
Rate Related Information | ||||||||||||||||||||||||||||
The NCUC, PSCSC, FPSC, IURC, PUCO and KPSC approve rates for retail electric and natural gas services within their states. The FERC approves rates for electric sales to wholesale customers served under cost-based rates (excluding Ohio and Indiana), as well as sales of transmission service. | ||||||||||||||||||||||||||||
Duke Energy Carolinas | ||||||||||||||||||||||||||||
2013 North Carolina Rate Case | ||||||||||||||||||||||||||||
On September 24, 2013, the NCUC approved a settlement agreement related to Duke Energy Carolinas’ request for a rate increase with minor modifications. The NCUC Public Staff (Public Staff) was a party to the settlement. The settling parties agreed to a three-year step-in rate increase, with the first two years providing for $204 million, or a 4.5 percent average increase in rates, and the third year providing for rates to be increased by an additional $30 million, or 0.6 percent. The agreement is based upon a return on equity of 10.2 percent and an equity component of the capital structure of 53 percent. The settlement agreement (i) allows for the recognition of nuclear outage expenses over the refueling cycle rather than when the outage occurs, (ii) a $10 million shareholder contribution to agencies that provide energy assistance to low-income customers, and (iii) an annual reduction in the regulatory liability for costs of removal of $30 million for each of the first two years. Duke Energy Carolinas has agreed not to request additional base rate increases to be effective before September 2015. New rates went into effect on September 25, 2013. | ||||||||||||||||||||||||||||
On October 23, 2013, the North Carolina Attorney General (NCAG) appealed the rate of return and capital structure approved in the agreement. The NC Waste Awareness and Reduction Network (NC WARN) appealed various matters in the settlement on October 24, 2013. The North Carolina Supreme Court (NCSC) denied a motion to consolidate these appeals with other North Carolina rate case appeals involving Duke Energy Carolinas and Duke Energy Progress on March 13, 2014. Briefing concluded in this matter and oral argument occurred on September 8, 2014. On January 23, 2015, the NCSC affirmed the NCUC's September 24, 2013 order. | ||||||||||||||||||||||||||||
2013 South Carolina Rate Case | ||||||||||||||||||||||||||||
On September 11, 2013, the PSCSC approved a settlement agreement related to Duke Energy Carolinas’ request for a rate increase. Parties to the settlement agreement were the Office of Regulatory Staff, Wal-Mart Stores East, LP and Sam’s East, Incorporated, the South Carolina Energy Users Committee, Public Works of the City of Spartanburg, South Carolina and the South Carolina Small Business Chamber of Commerce. The parties agreed to a two-year step-in rate increase, with the first year providing for approximately $80 million, or a 5.5 percent average increase in rates, and the second year providing for rates to be increased by an additional $38 million, or 2.6 percent. The settlement agreement is based upon a return on equity of 10.2 percent and a 53 percent equity component of the capital structure. The settlement agreement (i) allows for the recognition of nuclear outage expenses over the refueling cycle rather than when the outage occurs, (ii) approximately $4 million of contributions to agencies that provide energy assistance to low-income customers and for economic development, and (iii) a reduction in the regulatory liability for costs of removal of $45 million for the first year. Duke Energy Carolinas has agreed not to request additional base rate increases to be effective before September 2015. New rates went into effect on September 18, 2013. | ||||||||||||||||||||||||||||
2011 North Carolina Rate Case | ||||||||||||||||||||||||||||
On January 27, 2012, the NCUC approved a settlement agreement related to Duke Energy Carolinas’ request for a rate increase. On October 23, 2013, the NCUC issued a second order in the case reaffirming the rate of return approved in the settlement agreement, in response to an appeal by the NCAG. On November 21, 2013, the NCAG appealed the NCUC's October 2013 order. On December 19, 2014, the NCSC affirmed the NCUC's October 2013 order concluding the appeal. | ||||||||||||||||||||||||||||
William States Lee Combined Cycle Facility | ||||||||||||||||||||||||||||
On April 9, 2014, the PSCSC granted Duke Energy Carolinas and NCEMC a Certificate of Environmental Compatibility and Public Convenience and Necessity (CECPCN) for the construction and operation of a 750 MW combined cycle natural gas-fired generating plant at its existing William States Lee Generating Station in Anderson, South Carolina. On May 16, 2014, Duke Energy Carolinas announced its intention to begin construction in summer 2015 and estimated a cost to build of $600 million for its share of the facility, including AFUDC. The project is expected to be commercially available in late 2017. NCEMC will own approximately 13 percent of the project. On July 3, 2014, the South Carolina Coastal Conservation League and Southern Alliance for Clean Energy jointly filed a Notice of Appeal with the Court of Appeals of South Carolina seeking the court's review of the PSCSC's decision. Duke Energy Carolinas' initial brief in support of the PSCSC's order granting the CECPCN was filed on January 12, 2015. Duke Energy Carolinas cannot predict the outcome of this matter. | ||||||||||||||||||||||||||||
William States Lee III Nuclear Station | ||||||||||||||||||||||||||||
In December 2007, Duke Energy Carolinas applied to the NRC for a COL for two Westinghouse AP1000 (advanced passive) reactors for the proposed William States Lee III Nuclear Station (Lee Nuclear Station) at a site in Cherokee County, South Carolina. Submitting the COL application did not commit Duke Energy Carolinas to build nuclear units. Through several separate orders, the NCUC and PSCSC concurred with the prudency of Duke Energy Carolinas incurring certain project development and pre-construction costs, although recovery of costs is not guaranteed. Duke Energy Carolinas has incurred approximately $427 million, including AFUDC through December 31, 2014. This amount is included in Net property, plant and equipment on Duke Energy Carolinas’ Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
Design changes have been identified in the Westinghouse AP1000 certified design that must be addressed before NRC can complete its review of the Lee Nuclear Station COL application. These design changes set the schedule for completion of the NRC COL application review and issuance of the Lee COL. Receipt of the Lee Nuclear Station COL is currently expected by mid-2016. | ||||||||||||||||||||||||||||
Duke Energy Progress | ||||||||||||||||||||||||||||
2012 North Carolina Rate Case | ||||||||||||||||||||||||||||
On May 30, 2013, the NCUC approved a settlement agreement related to Duke Energy Progress’ request for a rate increase. The Public Staff was a party to the settlement agreement. The settling parties agreed to a two-year step-in rate increase, with the first year providing for a $147 million, or a 4.5 percent average increase in rates, and the second year providing for rates to be increased by an additional $31 million, or a 1.0 percent average increase in rates. The agreement is based upon a return on equity of 10.2 percent and an equity component of the capital structure of 53 percent. The settlement agreement (i) allows for the recognition of nuclear outage expenses over the refueling cycle rather than when the outage occurs, (ii) a $20 million shareholder contribution to agencies that provide energy assistance to low-income customers, and (iii) a reduction in the regulatory liability for costs of removal of $20 million for the first year. The initial rate increase went into effect on June 1, 2013 and the step-in rate increase went into effect in June 2013. | ||||||||||||||||||||||||||||
On July 1, 2013, the NCAG appealed the NCUC’s approval of the rate of return and capital structure included in the agreement. NC WARN also appealed various matters in the settlement. On August 20, 2014, the NCSC affirmed the NCUC's order approving Duke Energy Progress' rate of return and capital structure concluding the appeal. | ||||||||||||||||||||||||||||
L.V. Sutton Combined Cycle Facility | ||||||||||||||||||||||||||||
Duke Energy Progress completed construction of a 625 MW combined cycle natural gas-fired generating facility at its existing L.V. Sutton Steam Station (Sutton) in New Hanover County, North Carolina. Sutton began commercial operations in the fourth quarter of 2013. | ||||||||||||||||||||||||||||
Shearon Harris Nuclear Station Expansion | ||||||||||||||||||||||||||||
In 2006, Duke Energy Progress selected a site at Harris to evaluate for possible future nuclear expansion. On February 19, 2008, Duke Energy Progress filed its COL application with the NRC for two Westinghouse AP1000 reactors at Harris, which the NRC docketed for review. On May 2, 2013, Duke Energy Progress filed a letter with the NRC requesting the NRC to suspend its review activities associated with the COL at the Harris site. As a result of the decision to suspend the COL applications, during the second quarter of 2013, Duke Energy Progress recorded a pretax impairment charge of $22 million which represented costs associated with the COL, which were not probable of recovery. As of December 31, 2014, approximately $48 million is recorded in Regulatory assets on Duke Energy Progress’ Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
Wholesale Depreciation Rates | ||||||||||||||||||||||||||||
On April 19, 2013, Duke Energy Progress filed an application with FERC for acceptance of changes to generation depreciation rates and in August 2013 filed for acceptance of additional changes. These changes affect the rates of Duke Energy Progress' wholesale power customers that purchase or will purchase power under formula rates. Certain Duke Energy Progress wholesale customers filed interventions and protests. FERC accepted the depreciation rate changes, subject to refund, and set the matter for settlement and hearing in a consolidated proceeding. FERC further initiated an action with respect to the justness and reasonableness of the proposed rate changes. Settlement was reached in October 2014 for changes to the depreciation rates and conforming changes to the wholesale formula rates. FERC approved the settlement in December 2014. The agreement will have no material or adverse impact to the rates originally proposed by Duke Energy Progress, and Duke Energy Progress will receive cost recovery for early retired plants previously included in the depreciation rates. | ||||||||||||||||||||||||||||
Duke Energy Florida | ||||||||||||||||||||||||||||
FERC Transmission Return on Equity Complaint | ||||||||||||||||||||||||||||
On February 12, 2012, Seminole Electric Cooperative, Inc. and Florida Municipal Power Agency filed with FERC a complaint against Duke Energy Florida alleging that the current rate of return on equity in Duke Energy Florida's transmission formula rates of 10.8 percent is unjust and unreasonable and should be reduced to 9.02 percent. The complainants further alleged that return on equity adjustments should take effect retroactive to January 1, 2010 under the governing transmission formula rate protocols. On May 13, 2013, the complainants filed a second complaint alleging that the return on equity should be reduced to 8.63 percent or 8.84 percent. On June 19, 2014, FERC issued orders consolidating the two complaints, setting them for settlement and hearing procedures, setting refund effective dates of February 29, 2012 for the first complaint and May 13, 2013 for the second complaint, and setting for settlement and hearing the issue of whether return on equity adjustments should take effect prior to the refund effective date of the first complaint. On August 12, 2014, the complainants filed a third complaint alleging that the return on equity should be 8.69 percent. On December 5, 2014, FERC issued an order consolidating the third complaint with the first two complaints for the purposes of settlement, hearing, and decision, and establishing a refund effective date of August 12, 2014 for the third complaint. The parties are engaged in settlement discussions. Duke Energy Florida cannot predict the outcome of this matter. | ||||||||||||||||||||||||||||
FPSC Settlement Agreements | ||||||||||||||||||||||||||||
On February 22, 2012, the FPSC approved a settlement agreement (the 2012 Settlement) among Duke Energy Florida, the Florida Office of Public Counsel (OPC) and other customer advocates. The 2012 Settlement was to continue through the last billing cycle of December 2016. On October 17, 2013, the FPSC approved a settlement agreement (the 2013 Settlement) between Duke Energy Florida, OPC, and other customer advocates. The 2013 Settlement replaces and supplants the 2012 Settlement and substantially resolves issues related to (i) Crystal River Unit 3, (ii) Levy, (iii) Crystal River 1 and 2 coal units, and (iv) future generation needs in Florida. Refer to the remaining sections below for further discussion of these settlement agreements. | ||||||||||||||||||||||||||||
Crystal River Unit 3 | ||||||||||||||||||||||||||||
On February 5, 2013, Duke Energy Florida announced the retirement of Crystal River Unit 3. On February 20, 2013, Duke Energy Florida filed with the NRC a certification of permanent cessation of power operations and permanent removal of fuel from the reactor vessel. In December 2013, and March 2014, Duke Energy Florida filed an updated site-specific decommissioning plan with the NRC and FPSC, respectively. The plan, which was approved by the FPSC in November 2014, included a decommissioning cost estimate of $1,180 million, including amounts applicable to joint owners, under the SAFSTOR option. Duke Energy Florida’s decommissioning study assumes Crystal River Unit 3 will be in SAFSTOR configuration, requiring limited staffing to monitor plant conditions, until the eventual dismantling and decontamination activities to be completed by 2073. This decommissioning approach is currently utilized at a number of retired domestic nuclear power plants and is one of three accepted approaches to decommissioning approved by the NRC. | ||||||||||||||||||||||||||||
Duke Energy Florida has reclassified all Crystal River Unit 3 investments, including property, plant and equipment, nuclear fuel, inventory, and other assets, to a regulatory asset. Duke Energy agreed to forgo recovery of $295 million of regulatory assets and an impairment charge was recorded in the second quarter of 2013 for this matter. Duke Energy Florida is allowed to accelerate cash recovery of approximately $130 million of the Crystal River Unit 3 regulatory asset from retail customers from 2014 through 2016 through its fuel clause. Duke Energy Florida will begin recovery of the remaining Crystal River Unit 3 regulatory asset, up to a cap of $1,466 million from retail customers upon the earlier of (i) full recovery of the uncollected Levy investment or (ii) the first billing period of January 2017. Recovery will continue 240 months from inception of collection of the regulatory asset in base rates. The Crystal River Unit 3 base rate component will be adjusted at least every four years. | ||||||||||||||||||||||||||||
Included in this recovery, but not subject to the cap, are costs of building an independent spent fuel storage installation (ISFSI). The return rate will be based on the currently approved AFUDC rate with a return on equity of 7.35 percent, or 70 percent of the currently approved 10.5 percent. The return rate is subject to change if the return on equity changes in the future. In December 2014, the FPSC approved Duke Energy Florida's decision to construct the ISFSI and approved Duke Energy Florida's request to defer amortization of the ISFSI pending resolution of its litigation against the federal government as a result of the Department of Energy's breach of its obligation to accept spent nuclear fuel. The regulatory asset associated with the original power uprate project to increase generating capacity will continue to be recovered through the Nuclear Cost Recovery Clause over an estimated seven-year period that began in 2013. | ||||||||||||||||||||||||||||
Through December 31, 2014, Duke Energy Florida deferred $1,377 million for rate recovery related to Crystal River Unit 3, which is subject to the rate recovery cap in the 2013 Settlement. In addition, Duke Energy Florida deferred $260 million for recovery associated with building an ISFSI and the original uprate project, which is not subject to the rate recovery cap discussed above. Duke Energy Florida does not expect the Crystal River Unit 3 costs to exceed the cap. | ||||||||||||||||||||||||||||
Customer Rate Matters | ||||||||||||||||||||||||||||
Pursuant to the 2013 Settlement, Duke Energy Florida will maintain base rates at the current level through the last billing period of 2018, subject to the return on equity range of 9.5 percent to 11.5 percent, with exceptions for base rate increases for the recovery of the Crystal River Unit 3 regulatory asset beginning no later than 2017 and base rate increases for new generation through 2018, per the provisions of the 2013 Settlement. Duke Energy Florida is not required to file a depreciation study, fossil dismantlement study or nuclear decommissioning study until the earlier of the next rate case filing or March 31, 2019. The 2012 Settlement provided for a $150 million increase in base revenue effective with the first billing cycle of January 2013. Costs associated with Crystal River Unit 3 investments were removed from retail rate base effective with the first billing cycle of January 2013. Duke Energy Florida is accruing, for future rate-setting purposes, a carrying charge on the Crystal River Unit 3 investment until the Crystal River Unit 3 regulatory asset is recovered in base rates. If Duke Energy Florida’s retail base rate earnings fall below the return on equity range, as reported on a FPSC-adjusted or pro forma basis on a monthly earnings surveillance report, it may petition the FPSC to amend its base rates during the term of the 2013 Settlement. | ||||||||||||||||||||||||||||
Duke Energy Florida agreed to refund $388 million to retail customers through its fuel clause, as required by the 2012 Settlement. At December 31, 2014, $120 million remains to be refunded, of which $50 million credit is recorded in Regulatory assets within Current Assets as an offset to deferred fuel and $70 million is recorded in Regulatory liabilities in Deferred Credits and Other Liabilities on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
Levy | ||||||||||||||||||||||||||||
On July 28, 2008, Duke Energy Florida applied to the NRC for a COL for two Westinghouse AP1000 reactors at Levy. In 2008, the FPSC granted Duke Energy Florida’s petition for an affirmative Determination of Need and related orders requesting cost recovery under Florida’s nuclear cost-recovery rule, together with the associated facilities, including transmission lines and substation facilities. Design changes have been identified in the Westinghouse AP1000 certified design that must be addressed before the NRC can complete its review of the Levy COL application. These design changes set the schedule for completion of the NRC COL application review and issuance of the Levy COL. Based on the current review schedule, the Levy COL is currently expected by mid-2016. | ||||||||||||||||||||||||||||
On January 28, 2014, Duke Energy Florida terminated the Levy engineering, procurement and construction agreement (EPC). Duke Energy Florida may be required to pay for work performed under the EPC and to bring existing work to an orderly conclusion, including but not limited to costs to demobilize and cancel certain equipment and material orders placed. As of December 31, 2014, Duke Energy Florida has recorded an exit obligation of $25 million for the termination of the EPC. This liability was recorded within Other in Deferred Credits and Other Liabilities with an offset primarily to Regulatory assets on the Consolidated Balance Sheets. Duke Energy Florida is allowed to recover reasonable and prudent EPC cancellation costs from its retail customers. | ||||||||||||||||||||||||||||
The 2012 Settlement provided that Duke Energy Florida include the allocated wholesale cost of Levy as a retail regulatory asset and include this asset as a component of rate base and amortization expense for regulatory reporting. In accordance with the 2013 Settlement, Duke Energy Florida ceased amortization of the wholesale allocation of Levy investments against retail rates. In the second quarter of 2013, Duke Energy Florida recorded a pretax charge of $65 million to write off the wholesale portion of Levy investments. This amount is included in Impairment charges on Duke Energy Florida's Statements of Operations and Comprehensive Income. | ||||||||||||||||||||||||||||
On October 27, 2014, the FPSC approved Duke Energy Florida rates for 2015 for Levy as filed and consistent with those established in the 2013 Revised and Restated Settlement Agreement. Recovery of the remaining retail portion of the project costs may occur over five years from 2013 through 2017. Duke Energy Florida has an ongoing responsibility to demonstrate prudency related to the wind down of the Levy investment and the potential for salvage of Levy assets. As of December 31, 2014, Duke Energy Florida has a net uncollected investment in Levy of approximately $180 million, including AFUDC. Of this amount, $91 million related to land and the COL is included in Net, property, plant and equipment and will be recovered through base rates and $89 million is included in Regulatory assets within Current Assets on the Consolidated Balance Sheets and will be recovered through the NCRC. | ||||||||||||||||||||||||||||
Crystal River 1 and 2 Coal Units | ||||||||||||||||||||||||||||
Duke Energy Florida has evaluated Crystal River 1 and 2 coal units for retirement in order to comply with certain environmental regulations. Based on this evaluation, those units will likely be retired by 2018. Once those units are retired Duke Energy Florida will continue recovery of existing annual depreciation expense through the end of 2020. Beginning in 2021, Duke Energy Florida will be allowed to recover any remaining net book value of the assets from retail customers through the Capacity Cost Recovery Clause. In April 2014, the FPSC approved Duke Energy Florida's petition to allow for the recovery of prudently incurred costs to comply with the Mercury and Air Toxics Standard through the Environmental Cost Recovery Clause. | ||||||||||||||||||||||||||||
New Generation | ||||||||||||||||||||||||||||
The 2013 Settlement establishes a recovery mechanism for additional generation needs. This recovery mechanism, the Generation Base Rate Adjustment, allows recovery of prudent costs of these items through an increase in base rates, upon the in-service date of such assets, without a general rate case at a 10.5 percent return on equity. | ||||||||||||||||||||||||||||
On May 27, 2014, Duke Energy Florida petitioned the FPSC for a Determination of Need to (i) construct a 1,640 MW combined cycle natural gas plant in Citrus County, Florida to be in service in 2018 with an estimated cost of $1.5 billion, (ii) construct a 320 MW combustion turbine plant at its existing Suwannee generating facility (Suwannee project) with an estimated cost of $197 million, and (iii) add inlet chilling to its existing Hines Energy Complex (Hines) combined cycle units which will increase the output of those units by 220 MW at an estimated cost of $160 million. These cost estimates include AFUDC. On August 26, 2014, Duke Energy Florida requested the FPSC withdraw consideration for the Suwannee project so that Duke Energy Florida could pursue further negotiations on an alternative power plant acquisition. On October 2, 2014, the FPSC approved the requests for the Citrus County plant and the uprate project at the Hines facility. Additional environmental and governmental approvals will be sought for the Citrus County project. The Hines uprate project is expected to be completed no later than 2017. | ||||||||||||||||||||||||||||
In December 2014, Duke Energy Florida and Osprey Energy Center, LLC, a wholly owned subsidiary of Calpine Corporation (Calpine) entered into an Asset Purchase and Sale Agreement for the purchase of a 599 MW combined cycle natural gas plant in Auburndale, Florida (Osprey Plant acquisition) for approximately $166 million. Closing is subject to the approval of FERC, FPSC and the expiration of the Hart Scott Rodino waiting period and is expected to occur by the first quarter of 2017 upon the expiration of an existing Power Purchase Agreement between Calpine and Duke Energy Florida. On January 30, 2015, Duke Energy Florida filed a petition with the FPSC requesting a determination that the Osprey Plant acquisition or, alternatively, the Suwannee project is the most cost effective generation alternative to meet Duke Energy Florida's remaining need prior to 2018. | ||||||||||||||||||||||||||||
Cost of Removal Reserve | ||||||||||||||||||||||||||||
The 2012 Settlement and the 2013 Settlement provide Duke Energy Florida the discretion to reduce cost of removal amortization expense for a certain portion of the cost of removal reserve until the earlier of its applicable cost of removal reserve reaches zero or the expiration of the 2013 Settlement. Duke Energy Florida may not reduce amortization expense if the reduction would cause it to exceed the appropriate high point of the return on equity range. Duke Energy Florida recognized a reduction in amortization expense of $114 million, and $178 million for the years ended December 31, 2013, and 2012 respectively. Duke Energy Florida had no cost of removal reserves eligible for amortization to income remaining at December 31, 2013. | ||||||||||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||
W.C. Beckjord Fuel Release | ||||||||||||||||||||||||||||
On August 18, 2014, approximately 9,000 gallons of fuel oil were inadvertently discharged into the Ohio River during a fuel oil transfer at the W.C. Beckjord generating plant. The Ohio Environmental Protection Agency (Ohio EPA) issued a Notice of Violation related to the discharge. Duke Energy Ohio is cooperating with the Ohio EPA, the EPA and the U.S. Attorney for the Southern District of Ohio, responding to a Request for Information from the EPA. No Notice of Violation has been issued by the EPA and no civil or criminal penalty amount has been established. Total repair and remediation costs related to the release are not expected to be material. Other costs related to the release, including state or federal civil enforcement proceedings, cannot be reasonably estimated at this time. | ||||||||||||||||||||||||||||
2014 Electric Security Plan (ESP) | ||||||||||||||||||||||||||||
On May 29, 2014, Duke Energy Ohio filed an application for approval of an SSO in the form of an ESP, effective June 1, 2015. The proposed ESP includes a competitive procurement process for SSO load, a distribution capital investment rider, a tracking mechanism for incremental distribution costs caused by major storms, and a cost-based recovery of Duke Energy Ohio’s contractual entitlement in OVEC. The proposed plan also seeks rate design modifications and continuance, revision, or termination of existing riders. An evidentiary hearing in this case concluded in November 2014 and final briefs were submitted in December 2014. Duke Energy Ohio cannot predict the outcome of this matter. | ||||||||||||||||||||||||||||
Capacity Rider Filing | ||||||||||||||||||||||||||||
On August 29, 2012, Duke Energy Ohio applied to the PUCO for the establishment of a charge for capacity provided pursuant to its obligations as a Fixed Resource Requirement entity. The charge, which was consistent with Ohio’s state compensation mechanism, was estimated to be approximately $729 million, and reflected Duke Energy Ohio’s embedded cost of capacity. On February 13, 2014, the PUCO denied Duke Energy Ohio’s request. | ||||||||||||||||||||||||||||
2012 Electric Rate Case | ||||||||||||||||||||||||||||
On May 1, 2013, the PUCO approved a settlement agreement between Duke Energy Ohio and all intervening parties (the Electric Settlement) related to Duke Energy Ohio’s electric distribution rate case. The Electric Settlement provides for a net increase in electric distribution revenues of $49 million, or an average increase of 2.9 percent, based upon a return on equity of 9.84 percent. Revised rates were effective in May 2013. | ||||||||||||||||||||||||||||
2012 Natural Gas Rate Case | ||||||||||||||||||||||||||||
On November 13, 2013, the PUCO issued an order approving a settlement among Duke Energy Ohio, the PUCO Staff and intervening parties (the Gas Settlement). The Gas Settlement provided for (i) no increase in base rates for natural gas distribution service and (ii) a return on equity of 9.84 percent. The Gas Settlement provided for a subsequent hearing on Duke Energy Ohio’s request for rider recovery of environmental remediation costs associated with its former MGP sites. After the conclusion of the evidentiary hearing and briefs, the PUCO authorized Duke Energy Ohio to recover $56 million, excluding carrying costs, of environmental remediation costs. The MGP rider became effective in April 2014 for a five-year period. On March 31, 2014, Duke Energy Ohio filed an application with the PUCO to adjust the MGP rider for investigation and remediation costs incurred in 2013. As of December 31, 2014, Duke Energy Ohio has a balance of $115 million in Regulatory assets in the Consolidated Balance Sheets related to MGP sites which includes the $56 million authorized for recovery in the rate case. | ||||||||||||||||||||||||||||
On May 14, 2014, the Ohio Supreme Court granted certain consumer groups' motion to stay the MGP rider pending their appeals of the PUCO approval of the Gas Settlement and Duke Energy Ohio suspended billing of the MGP rider in June 2014. Amounts collected under the rider prior to suspension were immaterial. The appellants, the PUCO and Duke Energy Ohio all filed briefs addressing the merits of this matter with the Ohio Supreme Court. On July 29, 2014, the Ohio Supreme Court denied Duke Energy Ohio's motion to lift the stay, but required appellants to post a bond. The Ohio Supreme Court also requested briefs on the appropriate amount of the bond. On November 5, 2014, the Ohio Supreme Court ordered the Appellants to post a bond of approximately $2.5 million to continue the stay of the rider. The bond was to be posted within ten days or the stay would be lifted. The Appellants failed to post the required bond and on November 18, 2014, Duke Energy Ohio requested the PUCO to reinstate the MGP rider. The PUCO approved reinstatement of the rider on January 15, 2015 and Duke Energy Ohio began billings of the MGP rider. Duke Energy Ohio cannot predict the outcome of the appeals in this matter. | ||||||||||||||||||||||||||||
Regional Transmission Organization (RTO) Realignment | ||||||||||||||||||||||||||||
Duke Energy Ohio, including Duke Energy Kentucky, transferred control of its transmission assets from MISO to PJM, effective December 31, 2011. | ||||||||||||||||||||||||||||
On December 22, 2010, the KPSC approved Duke Energy Kentucky’s request to effect the RTO realignment, subject to a commitment not to seek double-recovery in a future rate case of the transmission expansion fees that may be charged by MISO and PJM in the same period or overlapping periods. | ||||||||||||||||||||||||||||
On May 25, 2011, the PUCO approved a settlement between Duke Energy Ohio, Ohio Energy Group, the Office of the Ohio Consumers’ Counsel and the PUCO Staff related to Duke Energy Ohio’s recovery of certain costs of the RTO realignment via a non-bypassable rider. Duke Energy Ohio is allowed to recover all MISO Transmission Expansion Planning (MTEP) costs, including but not limited to Multi Value Project (MVP) costs, directly or indirectly charged to Ohio customers. Duke Energy Ohio also agreed to vigorously defend against any charges for MVP projects from MISO. | ||||||||||||||||||||||||||||
Upon its exit from MISO on December 31, 2011, Duke Energy Ohio recorded a liability for its exit obligation and share of MTEP costs, excluding MVP. This liability was recorded within Other in Current liabilities and Other in Deferred credits and other liabilities on Duke Energy Ohio’s Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
The following table provides a reconciliation of the beginning and ending balance of Duke Energy Ohio’s recorded obligations related to its withdrawal from MISO. As of December 31, 2014, $74 million is recorded as a Regulatory asset on Duke Energy Ohio's Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
(in millions) | 31-Dec-13 | Provision / Adjustments | Cash Reductions | 31-Dec-14 | ||||||||||||||||||||||||
Duke Energy Ohio | $ | 95 | $ | 3 | $ | (4 | ) | $ | 94 | |||||||||||||||||||
MVP. MISO approved 17 MVP proposals prior to Duke Energy Ohio’s exit from MISO on December 31, 2011. Construction of these projects is expected to continue through 2020. Costs of these projects, including operating and maintenance costs, property and income taxes, depreciation and an allowed return, are allocated and billed to MISO transmission owners. | ||||||||||||||||||||||||||||
On December 29, 2011, MISO filed a tariff with the FERC providing for the allocation of MVP costs to a withdrawing owner based on monthly energy usage. The FERC set for hearing (i) whether MISO’s proposed cost allocation methodology to transmission owners who withdrew from MISO prior to January 1, 2012, is consistent with the tariff at the time of their withdrawal from MISO, and, (ii) if not, what the amount of and methodology for calculating any MVP cost responsibility should be. On July 16, 2013, a FERC Administrative Law Judge (ALJ) issued an initial decision. Under this initial decision, Duke Energy Ohio would be liable for MVP costs. Duke Energy Ohio filed exceptions to the initial decision, requesting the FERC overturn the ALJ’s decision. After reviewing the initial decision, along with all exceptions and responses filed by the parties, the FERC will issue a final decision. Duke Energy Ohio fully intends to appeal to the federal court of appeals if the FERC affirms the ALJ’s decision. Duke Energy Ohio cannot predict the outcome of these proceedings. | ||||||||||||||||||||||||||||
In 2012, MISO estimated Duke Energy Ohio’s MVP obligation over the period from 2012 to 2071 at $2.7 billion, on an undiscounted basis. The estimated obligation is subject to great uncertainty including the ultimate cost of the projects, the annual costs of operations and maintenance, taxes and return over the project lives, the number of years in service for the projects and the allocation to Duke Energy Ohio. | ||||||||||||||||||||||||||||
Any liability related to the MISO MVP matter attributable to the Disposal Group will not be transferred to Dynegy upon closing of the disposal of the Midwest generation business. | ||||||||||||||||||||||||||||
FERC Transmission Return on Equity and MTEP Cost Settlement | ||||||||||||||||||||||||||||
On October 14, 2011, Duke Energy Ohio and Duke Energy Kentucky submitted with FERC proposed modifications to the PJM Interconnection Open Access Transmission Tariff pertaining to recovery of the transmission revenue requirement as PJM transmission owners. The filing was made in connection with the Duke Energy Ohio's and Duke Energy Kentucky's move from MISO to PJM effective January 1, 2012. On April 24, 2012, FERC issued an order accepting the proposed filing effective January 1, 2012, except that the order denied a request to recover certain costs associated with the move from MISO to PJM without prejudice to the right to submit another filing seeking such recovery and including certain additional evidence, and set the rate of return on equity of 12.38 percent for settlement and hearing. A February 2013 settlement agreement filed with the FERC was rejected in September 2013. On October 30, 2014, the companies and six PJM transmission customers with load in the Duke Energy Ohio and Duke Energy Kentucky zone filed with FERC for approval of another settlement agreement. The principal terms of the settlement agreement are that, effective upon the date of FERC approval, (i) the return on equity will be reduced from 12.38 percent to 11.38 percent and (ii) Duke Energy Ohio and Duke Energy Kentucky will recover 30 percent of costs arising from their obligation to pay any portion of the costs of projects included in any MTEP that was approved prior to the date of the Duke Energy Ohio's and Duke Energy Kentucky's integration into PJM. The settlement is pending FERC approval. Duke Energy Ohio and Duke Energy Kentucky cannot predict the outcome of this matter | ||||||||||||||||||||||||||||
Duke Energy Indiana | ||||||||||||||||||||||||||||
Edwardsport IGCC Plant | ||||||||||||||||||||||||||||
On November 20, 2007, the IURC granted Duke Energy Indiana a Certificate of Public Convenience and Necessity for the construction of a 618 MW IGCC power plant at Duke Energy Indiana’s existing Edwardsport Generating Station in Knox County, Indiana with a cost estimate of $1.985 billion assuming timely recovery of financing costs related to the project. The Citizens Action Coalition of Indiana, Inc., Sierra Club, Inc., Save the Valley, Inc., and Valley Watch, Inc. (collectively, the Joint Intervenors) were intervenors in several matters related to the Edwardsport IGCC Plant. | ||||||||||||||||||||||||||||
On December 27, 2012, the IURC approved a settlement agreement (the 2012 Edwardsport settlement) related to the cost increase for the construction of the project, including subdockets before the IURC related to the project. The Office of Utility Consumer Counselor (OUCC), the Duke Energy Indiana Industrial Group and Nucor Steel-Indiana were parties to the settlement. The settlement agreement, as approved, capped costs to be reflected in customer rates at $2.595 billion, including estimated AFUDC through June 30, 2012. Duke Energy Indiana is allowed to recover AFUDC after June 30, 2012, until customer rates are revised, with such recovery decreasing to 85 percent on AFUDC accrued after November 30, 2012. | ||||||||||||||||||||||||||||
Over the course of construction of the project to date, Duke Energy Indiana has recorded pretax charges of approximately $897 million related to the project and the settlement agreement discussed above. Of this amount, pretax impairment and other charges of $631 million were recorded during the year ended December 31, 2012. These charges were recorded in Impairment charges and Operations, maintenance and other on Duke Energy Indiana's Consolidated Statements of Operations and Comprehensive Income. | ||||||||||||||||||||||||||||
The project was placed in commercial operation in June 2013. Costs for the Edwardsport IGCC plant are recovered from retail electric customers through a tracking mechanism, the IGCC rider. Updates to the IGCC rider are filed semi-annually. An order on the eleventh semi-annual IGCC rider is currently pending. The twelfth and thirteenth semi-annual IGGC riders were combined into one proceeding. In this proceeding, the OUCC, Duke Energy Indiana Industrial Group and Joint Intervenors alleged the Edwardsport IGCC plant was not properly placed in commercial operation in June 2013 and therefore operating and maintenance costs for the time period June 2013 through March 2014 should not be recoverable. The Duke Energy Indiana Industrial Group and Joint Intervenors also argued that the plant's performance was unsatisfactory during the first ten months of operations and recommended cost recovery disallowances. Evidentiary hearings concluded in February 2015 and an order is expected in the second half of 2015. | ||||||||||||||||||||||||||||
On March 18, 2014, the Indiana Court of Appeals denied an appeal filed by the Joint Intervenors and affirmed the IURC order approving the 2012 Edwardsport settlement and other related regulatory orders. On June 5, 2014, the Indiana Court of Appeals affirmed the decision on rehearing. The Joint Intervenors requested to seek transfer to the Indiana Supreme Court. On November 7, 2014, the Indiana Supreme Court denied the Joint Intervenors' request to transfer the appeal of these proceedings. The ninth and tenth semi-annual IGCC rider orders have also been appealed. On August 21, 2014, the Indiana Court of Appeals affirmed the IURC order in the tenth IGCC rider proceeding, and on October 29, 2014, denied Joint Intervenors' request for rehearing. The Joint Intervenors have requested a transfer of the matter to the Indiana Supreme Court. On September 8, 2014, the Indiana Court of Appeals remanded the IURC order in the ninth IGCC rider proceeding back to the IURC for further findings concerning approximately $61 million of financing charges Joint Intervenors claimed were caused by construction delay and a ratemaking issue concerning the in-service date determination for tax purposes. On February 25, 2015, the IURC issued an order on remand that upheld its prior order and added additional findings on the two issues as requested by the Indiana Court of Appeals. First, the IURC concluded the schedule delays in the construction of the IGCC plant were not the result of imprudence or unreasonable actions by Duke Energy Indiana and therefore recovery of the financing costs were appropriate. On the second issue, the IURC determined the federal tax in-service determination was to be made by the Internal Revenue Service, not the IURC, and the IURC appropriately reviewed and accepted the impact of such decision on customer rates in this and prior proceedings. | ||||||||||||||||||||||||||||
On April 2, 2014, the IURC established a subdocket to Duke Energy Indiana’s current fuel adjustment clause proceeding. In this fuel adjustment subdocket, the IURC intends to review underlying causes for net negative generation amounts at the Edwardsport IGCC plant during the period September through November 2013. Duke Energy Indiana contends the net negative generation is related to the consumption of fuel and auxiliary power when the plant was in start-up or off line. In addition to the OUCC, the Duke Energy Indiana Industrial Group, Nucor Steel-Indiana, Steel Dynamics, Inc., and the Joint Intervenors are parties to the subdocket. The IURC has deferred the fuel adjustment subdocket until resolution of the twelfth and thirteenth semi-annual IGCC rider proceedings. In addition, although the IURC approved fuel adjustment clause recovery for the period December 2013 through March 2014, it determined such fuel costs reasonably related to the operational performance of the Edwardsport IGCC plant shall be subject to refund pending the outcome of the twelfth and thirteenth semi-annual IGCC riders. | ||||||||||||||||||||||||||||
Duke Energy Indiana cannot predict the outcome of the fuel adjustment clause proceedings or pending and future IGCC Rider proceedings. | ||||||||||||||||||||||||||||
FERC Transmission Return on Equity Complaint | ||||||||||||||||||||||||||||
On November 12, 2013, customer groups filed with FERC a complaint against MISO and its transmission-owning members, including Duke Energy Indiana, alleging, among other things, that the current base rate of return on equity earned by MISO transmission owners of 12.38 percent is unjust and unreasonable and should be reduced to 9.15 percent. On October 16, 2014, FERC issued an order setting the return on equity issue for settlement and hearing and establishing a refund effective date of November 12, 2013. On November 6, 2014, the MISO transmission owners submitted revisions to the MISO tariff to implement a 0.50 percent adder to the base return on equity based on participation in a RTO. On January 5, 2015, FERC issued an order accepting the adder subject to it being applied to a base return on equity that is shown to be just and reasonable in the pending base return on equity complaint. On January 5, 2015, settlement procedures in the base return on equity proceeding were terminated and a hearing was scheduled for August 17, 2015. On February 12, 2015, certain MISO transmission customers filed with FERC a complaint alleging that the base return on equity should be 8.67 percent and requesting consolidation with the pending base return on equity complaint. Duke Energy Indiana cannot predict the outcome of this matter. | ||||||||||||||||||||||||||||
Grid Infrastructure Improvement Plan | ||||||||||||||||||||||||||||
On August 29, 2014, Duke Energy Indiana filed a seven-year grid infrastructure improvement plan with the IURC with an estimated cost of $1.9 billion, focusing on the reliability, integrity and modernization of the transmission and distribution system. If approved, 80 percent of the costs will be recovered through a rate rider. The remaining 20 percent are subject to recovery through future rate case proceedings. Hearings were held in January 2015 and Duke Energy Indiana expects a decision in the second quarter of 2015. | ||||||||||||||||||||||||||||
Other Regulatory Matters | ||||||||||||||||||||||||||||
Atlantic Coast Pipeline | ||||||||||||||||||||||||||||
On September 2, 2014, Duke Energy, Dominion Resources (Dominion), Piedmont Natural Gas and AGL Resources announced the formation of a joint venture, Atlantic Coast Pipeline, LLC, to build and own the proposed Atlantic Coast Pipeline (ACP), a 550-mile interstate natural gas pipeline. The ACP is designed to meet the needs identified in requests for proposals by Duke Energy Carolinas, Duke Energy Progress and Piedmont Natural Gas. Dominion will build and operate the ACP and will own 45 percent. Duke Energy will own 40 percent of the pipeline through its Commercial Power segment. The remaining share will be owned by Piedmont Natural Gas and AGL Resources. Duke Energy Carolinas and Duke Energy Progress will be customers of the pipeline and enter into 20-year transportation capacity contracts with ACP, subject to state regulatory approval. In October 2014, the NCUC and PSCSC approved the Duke Energy Carolinas and Duke Energy Progress requests to enter into certain affiliate agreements, pay compensation to ACP and to grant a waiver of certain Code of Conduct provisions relating to contractual and jurisdictional matters. The project will require FERC approval, which the joint venture will seek to secure by summer 2016. The estimated in-service date of the pipeline is late 2018. | ||||||||||||||||||||||||||||
East Bend Station | ||||||||||||||||||||||||||||
On December 30, 2014, Duke Energy Ohio acquired The Dayton Power and Light Company’s 31 percent interest in East Bend Station for approximately $12.4 million. The purchase price has been reflected in the accompanying financial statements with the net purchase amount as an increase to property, plant and equipment in accordance with FERC guidelines. Duke Energy Ohio expects FERC approval to present the property, plant and equipment and accumulated depreciation at The Dayton Power and Light Company's historical cost. | ||||||||||||||||||||||||||||
NC WARN FERC Complaint | ||||||||||||||||||||||||||||
On December 16, 2014, NC WARN filed a complaint with the FERC against Duke Energy Carolinas and Duke Energy Progress that alleged Duke Energy Carolinas and Duke Energy Progress manipulated the electricity market by constructing costly and unneeded generation facilities leading to unjust and unreasonable rates; Duke Energy Carolinas and Duke Energy Progress failed to comply with Order 1000 by not effectively connecting their transmission systems with neighboring utilities which also have excess capacity; the plans of Duke Energy Carolinas and Duke Energy Progress for unrealistic future growth leads to unnecessary and expensive generating plants; FERC should investigate the practices of Duke Energy Carolinas and Duke Energy Progress and the potential benefits of having them enter into a regional transmission organization; and FERC should force Duke Energy Carolinas and Duke Energy Progress to purchase power from other utilities rather than construct wasteful and redundant power plants. A copy of the complaint was filed with the PSCSC on January 6, 2015. Duke Energy Carolinas and Duke Energy Progress have filed a responses requesting dismissal of the complaint with the FERC and the PSCSC. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of these proceedings. | ||||||||||||||||||||||||||||
Merger Appeals | ||||||||||||||||||||||||||||
On January 9, 2013, the City of Orangeburg and NC WARN appealed the NCUC’s approval of the merger between Duke Energy and Progress Energy. On April 29, 2013, the NCUC granted Duke Energy’s motion to dismiss certain exceptions contained in NC WARN’s appeal. | ||||||||||||||||||||||||||||
On March 4, 2014, the Court of Appeals issued an opinion affirming the NCUC’s approval of the merger. On April 8, 2014, NC WARN filed a petition for discretionary review by the North Carolina Supreme Court. On April 21, 2014, Duke Energy and the Public Staff jointly filed their response opposing NC WARN’s petition. The City of Orangeburg did not file a petition for discretionary review. On December 19, 2014, the North Carolina Supreme Court denied NC WARN's petition, concluding the appeal. | ||||||||||||||||||||||||||||
Progress Energy Merger FERC Mitigation | ||||||||||||||||||||||||||||
In June 2012, the FERC approved the merger with Progress Energy, including Duke Energy and Progress Energy’s revised market power mitigation plan, the Joint Dispatch Agreement (JDA) and the joint Open Access Transmission Tariff. Several intervenors filed requests for rehearing challenging various aspects of the FERC approval. On October 29, 2014, FERC denied all of the requests for rehearing. | ||||||||||||||||||||||||||||
The revised market power mitigation plan provided for the acceleration of one transmission project and the completion of seven other transmission projects (Long-Term FERC Mitigation) and interim firm power sale agreements during the completion of the transmission projects (Interim FERC Mitigation). The Long-Term FERC Mitigation was expected to increase power imported into the Duke Energy Carolinas and Duke Energy Progress service areas and enhance competitive power supply options in the service areas. All of these projects were completed in or before 2014. On May 30, 2014, the Independent Monitor filed with FERC a final report stating that the Long-Term FERC Mitigation is complete. Therefore, Duke Energy Carolinas' and Duke Energy Progress' obligations associated with the Interim FERC Mitigation have terminated. In the second quarter of 2014, Duke Energy Progress recorded an $18 million partial reversal of an impairment recorded in the third quarter of 2012. This reversal adjusts the initial disallowance from the Long-Term FERC mitigation and reflects updated information on the construction costs and in-service dates of the transmission projects. | ||||||||||||||||||||||||||||
Following the closing of the merger, outside counsel reviewed Duke Energy’s mitigation plan and discovered a technical error in the calculations. On December 6, 2013, Duke Energy submitted a filing to the FERC disclosing the error and arguing that no additional mitigation is necessary. The City of New Bern filed a protest and requested that FERC order additional mitigation. On October 29, 2014, FERC ordered that the amount of the stub mitigation be increased from 25 MW to 129 MW. The stub mitigation is Duke Energy’s commitment to set aside for third parties a certain quantity of firm transmission capacity from Duke Energy Carolinas to Duke Energy Progress during summer off-peak hours. FERC also ordered that Duke Energy operate certain phase shifters to create additional import capability and that such operation be monitored by an independent monitor. Duke Energy does not expect the costs to comply with this order to be material. FERC also referred Duke Energy’s failure to expressly designate the phase shifter reactivation as a mitigation project in Duke Energy’s original mitigation plan filing in March 2012 to the FERC Office of Enforcement for further inquiry. Duke Energy cannot predict the outcome of this additional inquiry. | ||||||||||||||||||||||||||||
Planned and Potential Coal Plant Retirements | ||||||||||||||||||||||||||||
The Subsidiary Registrants periodically file Integrated Resource Plans (IRP) with state regulatory commissions. The IRPs provide a view of forecasted energy needs over a long term (10 to 20 years) and options being considered to meet those needs. Recent IRPs filed by the Subsidiary Registrants included planning assumptions to potentially retire certain coal-fired generating facilities in Florida, Ohio and Indiana earlier than their current estimated useful lives. These facilities do not have the requisite emission control equipment, primarily to meet EPA regulations recently approved or proposed. | ||||||||||||||||||||||||||||
The table below contains the net carrying value of generating facilities planned for early retirement or being evaluated for potential retirement included in Net property, plant and equipment on the Consolidated Balance Sheets, excluding the Duke Energy Carolinas 170 MW Lee Unit 3 which is being converted to gas in 2015. | ||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
Duke Energy | Progress Energy(b) | Duke Energy Florida(b) | Duke Energy Ohio(c) | Duke Energy Indiana(d) | ||||||||||||||||||||||||
Capacity (in MW) | 1,704 | 873 | 873 | 163 | 668 | |||||||||||||||||||||||
Remaining net book value (in millions)(a) | $ | 239 | $ | 114 | $ | 114 | $ | 9 | $ | 116 | ||||||||||||||||||
(a) | Included in Net property, plant and equipment as of December 31, 2014, on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(b) | Includes Crystal River Units 1 and 2. | |||||||||||||||||||||||||||
(c) | Includes Miami Fort Unit 6 which is expected to be retired by June 1, 2015. | |||||||||||||||||||||||||||
(d) | Includes Wabash River Units 2 through 6. Wabash River Unit 6 is being evaluated for potential conversion to gas. Duke Energy Indiana committed to retire or convert these units by June 2018 in conjunction with a settlement agreement associated with the Edwardsport air permit. | |||||||||||||||||||||||||||
Duke Energy continues to evaluate the potential need to retire these coal-fired generating facilities earlier than the current estimated useful lives, and plans to seek regulatory recovery for amounts that would not be otherwise recovered when any of these assets are retired. However, such recovery, including recovery of carrying costs on remaining book values, could be subject to future regulatory approvals and therefore cannot be assured. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||||||||||
General Insurance | |||||||||||||||||||||||||||||
The Duke Energy Registrants have insurance and reinsurance coverage either directly or through indemnification from Duke Energy’s captive insurance company, Bison, and its affiliates, consistent with companies engaged in similar commercial operations with similar type properties. The Duke Energy Registrants’ coverage includes (i) commercial general liability coverage for liabilities arising to third parties for bodily injury and property damage; (ii) workers’ compensation; (iii) automobile liability coverage; and (iv) property coverage for all real and personal property damage. Real and personal property damage coverage excludes electric transmission and distribution lines, but includes damages arising from boiler and machinery breakdowns, earthquakes, flood damage and extra expense, but not outage or replacement power coverage. All coverage is subject to certain deductibles or retentions, sublimits, exclusions, terms and conditions common for companies with similar types of operations. | |||||||||||||||||||||||||||||
The Duke Energy Registrants self-insure their electric transmission and distribution lines against loss due to storm damage and other natural disasters. As discussed further in Note 4, Duke Energy Florida maintains a storm damage reserve and has a regulatory mechanism to recover the cost of named storms on an expedited basis. | |||||||||||||||||||||||||||||
The cost of the Duke Energy Registrants’ coverage can fluctuate year to year reflecting claims history and conditions of the insurance and reinsurance markets. | |||||||||||||||||||||||||||||
In the event of a loss, terms and amounts of insurance and reinsurance available might not be adequate to cover claims and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on the Duke Energy Registrants’ results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available. | |||||||||||||||||||||||||||||
Nuclear Insurance | |||||||||||||||||||||||||||||
Duke Energy Carolinas owns and operates the McGuire Nuclear Station (McGuire) and the Oconee Nuclear Station (Oconee) and operates and has a partial ownership interest in the Catawba Nuclear Station (Catawba). McGuire and Catawba each have two reactors. Oconee has three reactors. The other joint owners of Catawba reimburse Duke Energy Carolinas for certain expenses associated with nuclear insurance per the Catawba joint owner agreements. | |||||||||||||||||||||||||||||
Duke Energy Progress owns and operates the Robinson Nuclear Station (Robinson) and operates and has a partial ownership interest in the Brunswick and Harris stations. Robinson and Harris each have one reactor. Brunswick has two reactors. The other joint owners of Brunswick and Harris reimburse Duke Energy Progress for certain expenses associated with nuclear insurance per the Brunswick and Harris joint owner agreements. | |||||||||||||||||||||||||||||
Duke Energy Florida manages and has a partial ownership interest in Crystal River Unit 3, which has been retired. The other joint owners of Crystal River Unit 3 reimburse Duke Energy Florida for certain expenses associated with nuclear insurance per the Crystal River Unit 3 joint owner agreement. | |||||||||||||||||||||||||||||
In the event of a loss, terms and amounts of insurance available might not be adequate to cover property damage and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on Duke Energy Carolinas’, Duke Energy Progress’ and Duke Energy Florida’s results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available. | |||||||||||||||||||||||||||||
Nuclear Liability Coverage | |||||||||||||||||||||||||||||
The Price-Anderson Act requires owners of nuclear reactors to provide for public nuclear liability protection per nuclear incident up to a maximum total financial protection liability. The maximum total financial protection liability, which is currently $13.6 billion, is subject to change every five years for inflation and the number of licensed reactors. Total nuclear liability coverage consists of a combination of private primary nuclear liability insurance coverage and a mandatory industry risk-sharing program to provide for excess nuclear liability coverage above the maximum reasonably available private primary coverage. The United States Congress could impose revenue-raising measures on the nuclear industry to pay claims. | |||||||||||||||||||||||||||||
Primary Liability Insurance | |||||||||||||||||||||||||||||
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida have purchased the maximum reasonably available private primary nuclear liability insurance as required by law, which currently is $375 million per station. | |||||||||||||||||||||||||||||
Excess Liability Program | |||||||||||||||||||||||||||||
This program provides $13.2 billion of coverage per incident through the Price-Anderson Act’s mandatory industry-wide excess secondary financial protection program of risk pooling. This amount is the product of potential cumulative retrospective premium assessments of $127 million times the current 104 licensed commercial nuclear reactors in U.S. Under this program, licensees could be assessed retrospective premiums to compensate for public nuclear liability damages in the event of a nuclear incident at any licensed facility in the U.S. Retrospective premiums may be assessed at a rate not to exceed $19 million per year per licensed reactor for each incident. The assessment may be subject to state premium taxes. | |||||||||||||||||||||||||||||
Nuclear Property and Accidental Outage Coverage | |||||||||||||||||||||||||||||
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are members of Nuclear Electric Insurance Limited (NEIL), an industry mutual insurance company, which provides "all risk" property damage, decontamination, and premature decommissioning insurance for each station for losses resulting from damage to its nuclear plants, either due to accidents or acts of terrorism. Additionally, NEIL provides some replacement power cost insurance for each station for losses in the event of a major accidental outage at an insured nuclear station. NEIL requires its members to maintain an investment grade credit rating or to ensure collectability of their annual retrospective premium obligation by providing a financial guarantee, letter of credit, deposit premium or other means of assurance. The companies are required each year to report to the NRC the current levels and sources of insurance that demonstrate it possesses sufficient financial resources to stabilize and decontaminate its reactors and reactor station sites in the event of an accident. | |||||||||||||||||||||||||||||
Pursuant to regulations of the NRC, each company’s property damage insurance policies provide that all proceeds from such insurance be applied, first, to place the plant in a safe and stable condition after a qualifying accident, and second, to decontaminate the plant before any proceeds can be used for decommissioning, plant repair or restoration. | |||||||||||||||||||||||||||||
Losses resulting from acts of terrorism are covered as common occurrences, such that if terrorist acts occur against one or more commercial nuclear power plants insured by NEIL within a 12-month period, they would be treated as one event and the owners of the plants where the act occurred would share one full limit of liability. The full limit of liability is currently $3.2 billion. NEIL sublimits the total aggregate for all of their policies for non-nuclear terrorist events to approximately $1.83 billion. | |||||||||||||||||||||||||||||
Each nuclear facility has accident property damage, decontamination and premature decommissioning liability insurance from NEIL with limits of $1.5 billion, except for Crystal River Unit 3. Crystal River Unit 3’s limit is $1.1 billion and is on an actual cash value basis. NEIL coverage for Crystal River 3 does not include property damage to or resulting from the containment structure except coverage does apply to decontamination and debris removal, if required following an accident, to ensure public health and safety or if property damage results from a terrorism event. All nuclear facilities except for Catawba and Crystal River Unit 3 also share an additional $1.25 billion nuclear accident insurance limit above their dedicated underlying limit. This shared additional excess limit is not subject to reinstatement in the event of a loss. Catawba has a dedicated $1.25 billion of additional nuclear accident insurance limit above its dedicated underlying limit. Catawba and Oconee also have an additional $750 million of non-nuclear accident property damage limit. | |||||||||||||||||||||||||||||
NEIL’s Accidental Outage policy provides some replacement power cost insurance for losses in the event of a major accident property damage outage of a nuclear unit. Coverage is provided on a weekly limit basis after a significant waiting period deductible and at 100 percent of the available weekly limits for 52 weeks and 80 percent of the available weekly limits for the next 110 weeks. Coverage is provided until policy aggregate limits are met where the accidental outage policy limit is $490 million for McGuire and Catawba, $381 million for Oconee, $419 million for Brunswick, $384 million for Harris and $329 million for Robinson. NEIL sublimits the accidental outage recovery to the first 104 weeks of coverage not to exceed $328 million from non-nuclear accidental property damage. Coverage amounts decrease in the event more than one unit at a station is out of service due to a common accident. | |||||||||||||||||||||||||||||
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 6 years after a loss. NEIL has never exercised this assessment. The maximum aggregate annual retrospective premium obligations for Duke Energy Carolinas are $73 million for primary property insurance and $32 million for accidental outage insurance. The maximum aggregate annual retrospective premium obligations Duke Energy Progress are $60 million for primary property insurance and $16 million for accidental outage insurance. Duke Energy Carolinas maintains excess property insurance for Catawba with a maximum assessment of $7 million, and shares with Duke Energy Progress blanket excess property limits across other sites with a combined potential maximum assessment of $17 million. The current potential maximum assessments for Duke Energy Florida are $8 million for primary property insurance. The maximum assessment amounts include 100 percent of Duke Energy Carolinas’, Duke Energy Progress’, and Duke Energy Florida’s potential obligations to NEIL for their share of jointly owned reactors. | |||||||||||||||||||||||||||||
ENVIRONMENTAL | |||||||||||||||||||||||||||||
Duke Energy is subject to international, federal, state, and local regulations regarding air and water quality, hazardous and solid waste disposal, and other environmental matters. The Subsidiary Registrants are subject to federal, state, and local regulations regarding air and water quality, hazardous and solid waste disposal and other environmental matters. These regulations can be changed from time to time, imposing new obligations on the Duke Energy Registrants. | |||||||||||||||||||||||||||||
The following environmental matters impact all of the Duke Energy Registrants. | |||||||||||||||||||||||||||||
Remediation Activities | |||||||||||||||||||||||||||||
The Duke Energy Registrants are responsible for environmental remediation at various contaminated sites. These include some 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, activities vary with site conditions and locations, 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 contamination caused by other potentially responsible parties, and may also benefit from insurance policies or contractual indemnities that cover some or all cleanup costs. Liabilities are recorded when losses become probable and are reasonably estimable. The total costs that may be incurred cannot be estimated because the extent of environmental impact, allocation among potentially responsible parties, remediation alternatives, and/or regulatory decisions have not yet been determined. Additional costs associated with remediation activities are likely to be incurred in the future and could be significant. Costs are typically expensed as Operation, maintenance and other in the Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable. | |||||||||||||||||||||||||||||
The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Balance at December 31, 2011 | 61 | 12 | 23 | 11 | 12 | 28 | 9 | ||||||||||||||||||||||
Provisions / adjustments | 39 | 1 | 19 | 5 | 14 | 5 | 3 | ||||||||||||||||||||||
Cash reductions | (25 | ) | (1 | ) | (9 | ) | (2 | ) | (7 | ) | (18 | ) | (4 | ) | |||||||||||||||
Balance at December 31, 2012 | 75 | 12 | 33 | 14 | 19 | 15 | 8 | ||||||||||||||||||||||
Provisions / adjustments | 26 | — | 4 | (1 | ) | 5 | 20 | 1 | |||||||||||||||||||||
Cash reductions | (22 | ) | (1 | ) | (10 | ) | (5 | ) | (5 | ) | (8 | ) | (2 | ) | |||||||||||||||
Balance at December 31, 2013 | 79 | 11 | 27 | 8 | 19 | 27 | 7 | ||||||||||||||||||||||
Provisions / adjustments | 32 | (1 | ) | 1 | 4 | (3 | ) | 28 | 4 | ||||||||||||||||||||
Cash reductions | (14 | ) | — | (11 | ) | (7 | ) | (4 | ) | (1 | ) | (1 | ) | ||||||||||||||||
Balance at December 31, 2014 | 97 | 10 | 17 | 5 | 12 | 54 | 10 | ||||||||||||||||||||||
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 presented in the table below. | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Duke Energy | $ | 89 | |||||||||||||||||||||||||||
Duke Energy Carolinas | 25 | ||||||||||||||||||||||||||||
Progress Energy | 15 | ||||||||||||||||||||||||||||
Duke Energy Progress | 1 | ||||||||||||||||||||||||||||
Duke Energy Florida | 14 | ||||||||||||||||||||||||||||
Duke Energy Ohio | 42 | ||||||||||||||||||||||||||||
Duke Energy Indiana | 7 | ||||||||||||||||||||||||||||
North Carolina and South Carolina Ash Basins | |||||||||||||||||||||||||||||
On February 2, 2014, a break in a 48-inch stormwater pipe beneath an ash basin at Duke Energy Carolinas’ retired Dan River steam station caused a release of ash basin water and ash into the Dan River. On February 8, 2014, a permanent plug was installed in the 48-inch stormwater pipe, stopping the release of materials into the river. Duke Energy Carolinas estimates 30,000 to 39,000 tons of ash and 24 million to 27 million gallons of basin water were released into the river during the incident. Duke Energy Carolinas incurred approximately $24 million of repairs and remediation expense related to this incident during the year ended December 31, 2014. These amounts are recorded in Operations, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. Duke Energy Carolinas will not seek recovery of these costs from customers. In July, Duke Energy completed remediation work identified by the EPA and continues to cooperate with the EPA's civil enforcement process. See the "Litigation" section below for additional information on litigation, investigations, and enforcement actions related to ash basins. Other costs related to the Dan River release, including pending or future state or federal civil enforcement proceedings, future regulatory directives, natural resources damages, additional pending litigation, future claims or litigation, and long-term environmental impact costs cannot be reasonably estimated at this time. | |||||||||||||||||||||||||||||
On September 20, 2014, the North Carolina Coal Ash Management Act of 2014 (Coal Ash Act) became law. The Coal Ash Act (i) establishes a Coal Ash Management Commission to oversee handling of coal ash within the state; (ii) prohibits construction of new and expansion of existing ash impoundments and use of existing impoundments at retired facilities, effective October 1, 2014; (iii) requires closure of ash impoundments at Duke Energy Progress' Asheville and Sutton stations and Duke Energy Carolinas' Riverbend and Dan River stations no later than August 1, 2019; (iv) requires dry disposal of fly ash at active plants not retired by December 31, 2018; (v) requires dry disposal of bottom ash at active plants by December 31, 2019, or retirement of active plants; (vi) requires all remaining ash impoundments in North Carolina to be categorized as high-risk, intermediate-risk, or low-risk no later than December 31, 2015 by the North Carolina Department of Environment and Natural Resources (DENR) with the method of closure and timing to be based upon the assigned risk, with closure no later than December 31, 2029; (vii) establishes requirements to deal with groundwater and surface water impacts from impoundments and (viii) enhances the level of regulation for structural fills utilizing coal ash. The Coal Ash Act includes a variance procedure for compliance deadlines and modification of requirements regarding structural fills and compliance boundaries. Provisions of the Coal Ash Act prohibit cost recovery for unlawful discharge of ash basin waters occurring after January 1, 2014. The Coal Ash Act included a moratorium for any NCUC ordered rate changes to effectuate the legislation, which ended January 15, 2015. The Coal Ash Act leaves the decision on cost recovery determinations related to closure of coal combustion residuals surface impoundments (ash basins or impoundments) to the normal ratemaking processes before utility regulatory commissions. In November 2014, Duke Energy submitted to DENR site specific coal ash excavation plans for the four high priority stations required to be closed no later than August 1, 2019. These plans and all associated permits must be approved by DENR before any excavation work can begin. | |||||||||||||||||||||||||||||
In September 2014, Duke Energy Carolinas executed a consent agreement with the South Carolina Department of Health and Environmental Control (SCDHEC) requiring the excavation of an inactive ash basin and ash fill area at the W.S. Lee Steam Station. As part of this agreement, in December 2014, Duke Energy Carolinas filed an ash removal plan and schedule with SCDHEC. | |||||||||||||||||||||||||||||
Duke Energy Carolinas and Duke Energy Progress recorded asset retirement obligations at December 31, 2014 based upon the legal obligation for closure of coal ash basins and the disposal of related ash as a result of the Coal Ash Act and the agreement with SCDHEC. Refer to Note 9 for further discussion of the asset retirement obligations recorded at December 31, 2014. | |||||||||||||||||||||||||||||
Coal Combustion Residuals | |||||||||||||||||||||||||||||
On December 19, 2014, the EPA signed the first federal regulation for the disposal of coal combustion residuals (CCR) from power plants. The federal regulation classifies CCR as nonhazardous waste under the Resource Conservation and Recovery Act and applies to all new and existing landfills, new and existing surface impoundments, structural fills and CCR piles. The rule establishes requirements regarding landfill design, structural integrity design and assessment criteria for surface impoundments, groundwater monitoring and protection procedures and other operational and reporting procedures to ensure the safe disposal and management of CCR. In addition to the requirements of the federal CCR regulation, CCR landfills and surface impoundments will continue to be independently regulated by most states. Duke Energy records an asset retirement obligation 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. Once the rule is effective in 2015, additional asset retirement obligation amounts will be recorded at the Duke registrants. Cost recovery for future expenditures will be pursued through the normal ratemaking process with state utility commissions, which permit recovery of necessary and prudently incurred costs associated with Duke Energy’s regulated operations. At this time, Duke Energy is evaluating the CCR regulation and developing cost estimates that will largely be dependent upon compliance alternatives selected to meet requirements of the regulations. For further discussion of asset retirement obligations see Note 9. | |||||||||||||||||||||||||||||
Litigation | |||||||||||||||||||||||||||||
Duke Energy | |||||||||||||||||||||||||||||
Ash Basin Shareholder Derivative Litigation | |||||||||||||||||||||||||||||
Five shareholder derivative lawsuits have been filed in Delaware Chancery Court relating to the release at Dan River and to the management of Duke Energy’s ash basins. On October 31, 2014, the five lawsuits were consolidated in a single proceeding titled "In Re Duke Energy Corporation Coal Ash Derivative Litigation." On December 2, 2014, plaintiffs filed a Corrected Verified Consolidated Shareholder Derivative Complaint (Consolidated Complaint). | |||||||||||||||||||||||||||||
The Consolidated Complaint names as defendants several current and former Duke Energy officers and directors (collectively, the “Duke Energy Defendants”). Duke Energy is named as a nominal defendant. | |||||||||||||||||||||||||||||
The Consolidated Complaint alleges the Duke Energy Defendants breached their fiduciary duties to the company by failing to adequately oversee Duke Energy’s ash basins and that these breaches of fiduciary duty may have contributed to the incident at Dan River and continued thereafter. The lawsuit also asserts claims against the Duke Energy Defendants for corporate waste (relating to the money Duke Energy has spent and will spend as a result of the fines, penalties, and coal ash removal) and unjust enrichment (relating to the compensation and director remuneration that was received despite these alleged breaches of fiduciary duty). The lawsuit seeks both injunctive relief against Duke Energy and restitution from the Duke Energy Defendants. On January 21, 2015, the Duke Energy Defendants filed a Motion to Stay and an alternative Motion to Dismiss. | |||||||||||||||||||||||||||||
On May 28, 2014, Duke Energy received a shareholder litigation demand letter sent on behalf of shareholder Mitchell Pinsly. The letter alleges that the members of the Board of Directors and certain officers breached their fiduciary duties by allowing the company to illegally dispose of and store coal ash pollutants. The letter demands that the Board of Directors take action to recover damages associated with those breaches of fiduciary duty; otherwise, the attorney will file a shareholder derivative action. By letter dated July 3, 2014, counsel for the shareholder was informed that the Board of Directors appointed a Demand Review Committee to evaluate the allegations in the Demand Letter. | |||||||||||||||||||||||||||||
It is not possible to predict whether Duke Energy will incur any liability or to estimate the damages, if any, it might incur in connection with these matters. | |||||||||||||||||||||||||||||
Progress Energy Merger Shareholder Litigation | |||||||||||||||||||||||||||||
Duke Energy, the eleven members of the Board of Directors who were also members of the pre-merger Board of Directors (Legacy Duke Energy Directors) and certain Duke Energy officers are defendants in a purported securities class action lawsuit (Nieman v. Duke Energy Corporation, et al). This lawsuit consolidates three lawsuits originally filed in July 2012, and is pending in the United States District Court for the Western District of North Carolina. The plaintiffs allege federal Securities Act and Exchange Act claims based on allegations of materially false and misleading representations and omissions in the Registration Statement filed on July 7, 2011, and purportedly incorporated into other documents, all in connection with the post-merger change in Chief Executive Officer (CEO). On August 15, 2014, the parties reached an agreement in principle to settle the litigation for an amount which, net of the expected proceeds of insurance policies, is not anticipated to have a material effect on the results of operations, cash flows or financial position of Duke Energy. On December 2, 2014, the parties executed a Memorandum of Understanding relating to the settlement which will be submitted to the court for approval. | |||||||||||||||||||||||||||||
On May 31, 2013, the Delaware Chancery Court consolidated four shareholder derivative lawsuits filed in 2012. The Court also appointed a lead plaintiff and counsel for plaintiffs and designated the case as In Re Duke Energy Corporation Derivative Litigation. The lawsuit names as defendants the Legacy Duke Energy Directors. Duke Energy is named as a nominal defendant. The case alleges claims for breach of fiduciary duties of loyalty and care in connection with the post-merger change in CEO. The case is stayed pending resolution of the Nieman v. Duke Energy Corporation, et al. case in North Carolina. | |||||||||||||||||||||||||||||
Two shareholder Derivative Complaints, filed in 2012 in federal district court in Delaware, were consolidated as Tansey v. Rogers, et al. The case alleges claims for breach of fiduciary duty and waste of corporate assets, as well as claims under Section 14(a) and 20(a) of the Exchange Act. Duke Energy is named as a nominal defendant. Pursuant to an Order entered on September 2, 2014, the court administratively closed this consolidated derivative action. The parties filed a status report with the court on December 1, 2014, and will continue to do so every six months thereafter until the Nieman v. Duke Energy Corporation, et al. case in North Carolina has been resolved. | |||||||||||||||||||||||||||||
On August 3, 2012, Duke Energy was served with a shareholder Derivative Complaint, which was transferred to the North Carolina Business Court (Krieger v. Johnson, et al.). The lawsuit names as defendants William D. Johnson and the Legacy Duke Energy Directors. Duke Energy is named as a nominal defendant. The lawsuit alleges claims for breach of fiduciary duty in granting excessive compensation to Mr. Johnson. On April 30, 2014, the North Carolina Business Court granted the Legacy Duke Energy Directors’ motion to dismiss the lawsuit. | |||||||||||||||||||||||||||||
It is not possible to estimate the maximum exposure of loss that may occur in connection with these lawsuits. | |||||||||||||||||||||||||||||
Price Reporting Cases | |||||||||||||||||||||||||||||
A total of five lawsuits were filed against Duke Energy affiliates and other energy companies and remain pending in a consolidated, single federal court proceeding in Nevada. Each of these lawsuits contain similar claims that defendants allegedly manipulated natural gas markets by various means, including providing false information to natural gas trade publications and entering into unlawful arrangements and agreements in violation of the antitrust laws of the respective states. Plaintiffs seek damages in unspecified amounts. | |||||||||||||||||||||||||||||
On July 18, 2011, the judge granted a defendant’s motion for summary judgment in two of the remaining five cases to which Duke Energy affiliates are a party. The U.S. Court of Appeals for the Ninth Circuit subsequently reversed the lower court’s decision. On July 1, 2014, the U.S. Supreme Court granted the defendants', including Duke Energy, petition for certiorari. Oral argument was held on January 12, 2015. | |||||||||||||||||||||||||||||
It is not possible to predict whether Duke Energy will incur any liability or to estimate the damages, if any, it might incur in connection with the remaining matters. However, based on Duke Energy’s past experiences with similar cases of this nature, it does not believe its exposure under these remaining matters is material. | |||||||||||||||||||||||||||||
Brazil Expansion Lawsuit | |||||||||||||||||||||||||||||
On August 9, 2011, the State of São Paulo sued Duke Energy International Geracao Paranapenema S.A. (DEIGP) in Brazilian state court. The lawsuit claims DEIGP is under a continuing obligation to expand installed generation capacity in the State of São Paulo by 15 percent pursuant to a stock purchase agreement under which DEIGP purchased generation assets from the state. On August 10, 2011, a judge granted an ex parte injunction ordering DEIGP to present a detailed expansion plan in satisfaction of the 15 percent obligation. DEIGP has previously taken a position the expansion obligation is no longer viable given changes that have occurred in the electric energy sector since privatization. DEIGP submitted its proposed expansion plan on November 11, 2011, but reserved objections regarding enforceability. It is not possible to predict whether Duke Energy will incur any liability or to estimate the damages, if any, it might incur in connection with this matter. | |||||||||||||||||||||||||||||
Duke Energy Carolinas and Duke Energy Progress | |||||||||||||||||||||||||||||
DENR State Enforcement Actions | |||||||||||||||||||||||||||||
In the first quarter of 2013, environmental organizations sent notices of intent to sue Duke Energy Carolinas and Duke Energy Progress related to alleged groundwater violations and Clean Water Act (CWA) violations from coal ash basins at two of their coal-fired power plants in North Carolina. DENR filed enforcement actions against Duke Energy Carolinas and Duke Energy Progress alleging violations of water discharge permits and North Carolina groundwater standards. The case against Duke Energy Carolinas was filed in Mecklenburg County Superior Court. The case against Duke Energy Progress was filed in Wake County Superior Court. The cases are being heard before a single judge. | |||||||||||||||||||||||||||||
On October 4, 2013, Duke Energy Carolinas, Duke Energy Progress and DENR negotiated a proposed consent order covering these two plants. The consent order would have assessed civil penalties and imposed a compliance schedule requiring Duke Energy Carolinas and Duke Energy Progress to undertake monitoring and data collection activities toward making appropriate corrective action to address any substantiated violations. In light of the coal ash release that occurred at Dan River on February 2, 2014, on March 21, 2014, DENR withdrew its support of the consent orders and requested that the court proceed with the litigation. | |||||||||||||||||||||||||||||
On August 16, 2013, DENR filed an enforcement action against Duke Energy Carolinas and Duke Energy Progress related to their remaining plants in North Carolina, alleging violations of the CWA and violations of the North Carolina groundwater standards. The case against Duke Energy Carolinas was filed in Mecklenburg County Superior Court. The case against Duke Energy Progress was filed in Wake County Superior Court. Both of these cases have been assigned to the judge handling the enforcement actions discussed above. Southern Environmental Law Center (SELC), on behalf of several environmental groups, has been permitted to intervene in these cases. | |||||||||||||||||||||||||||||
It is not possible to predict any liability or estimate any damages Duke Energy Carolinas or Duke Energy Progress might incur in connection with these matters. | |||||||||||||||||||||||||||||
North Carolina Declaratory Judgment Action | |||||||||||||||||||||||||||||
On October 10, 2012, the SELC, on behalf of the same environmental groups that were permitted to challenge the consent decrees discussed above, filed a petition with the North Carolina Environmental Management Commission (EMC) asking for a declaratory ruling seeking to clarify the application of the state’s groundwater protection rules to coal ash basins. The petition sought to change the interpretation of regulations that permitted DENR to assess the extent, cause and significance of any groundwater contamination before ordering action to eliminate the source of contamination, among other issues. Duke Energy Carolinas and Duke Energy Progress were both permitted to intervene in the matter. On December 3, 2012, the EMC affirmed this interpretation of the regulations. | |||||||||||||||||||||||||||||
On March 6, 2014, the North Carolina State Court judge overturned the ruling of the EMC holding that in the case of groundwater contamination, DENR was required to issue an order to immediately eliminate the source of the contamination before an assessment of the nature, significance and extent of the contamination or the continuing damage to the groundwater was conducted. Duke Energy Carolinas, Duke Energy Progress, and the EMC appealed the ruling in April 2014. On May 16, 2014, the North Carolina Court of Appeals denied a petition to stay the case during the appeal. On October 10, 2014, the parties were notified the case has been transferred to the NCSC. Oral argument has been scheduled for March 16, 2015. | |||||||||||||||||||||||||||||
Federal Citizens Suits | |||||||||||||||||||||||||||||
There are currently five cases filed in various North Carolina federal courts contending that the DENR state enforcement actions discussed above do not adequately address the issues raised in the notices of intent to sue related to the Riverbend, Sutton, Cape Fear, H.F. Lee and Buck plants. | |||||||||||||||||||||||||||||
On June 11, 2013, Catawba Riverkeeper Foundation, Inc. (Catawba Riverkeeper) filed a separate action in the United States Court for the Western District of North Carolina. The lawsuit contends the state enforcement action discussed above does not adequately address issues raised in Catawba Riverkeeper’s notice of intent to sue relating to the Riverbend plant. On April 11, 2014, the Court denied Catawba Riverkeeper’s objections to the Magistrate Judge’s recommendation that plaintiff’s case be dismissed as well as Duke Energy Carolinas’ motion to dismiss. The Court allowed limited discovery, after which Duke Energy Carolinas may file any renewed motions to dismiss. | |||||||||||||||||||||||||||||
On September 12, 2013, Cape Fear River Watch, Inc., Sierra Club, and Waterkeeper Alliance filed a citizen suit in the Federal District Court for the Eastern District of North Carolina. The lawsuit alleges unpermitted discharges to surface water and groundwater violations at the Sutton plant. On June 9, 2014, the court granted Duke Energy Progress' request to dismiss the groundwater claims but rejected its request to dismiss the surface water claims. In response to a motion filed by the SELC, on August 1, 2014, the court modified the original June 9th order to dismiss only the plaintiff's federal law claim based on hydrologic connections at Sutton Lake. The claims related to the alleged state court violations of the permits are back in the case. | |||||||||||||||||||||||||||||
On September 3, 2014, three cases were filed by various environmental groups: (i) a citizen suit in the United States Court for the Middle District of North Carolina alleging unpermitted discharges to surface water and groundwater violations at the Cape Fear plant; (ii) a citizen suit in the United States Court for the Eastern District of North Carolina alleging unpermitted discharges to surface water and groundwater violations at the H.F. Lee plant; and (iii) a citizen suit in the United States Court for the Middle District of North Carolina alleging unpermitted discharges to surface water and groundwater violations at the Buck plant. On January 5, 2015, Duke Energy Carolinas filed a Motion to Dismiss and a Motion to Stay the proceeding relating to the Buck plant. | |||||||||||||||||||||||||||||
It is not possible to predict whether Duke Energy Carolinas or Duke Energy Progress will incur any liability or to estimate the damages, if any, they might incur in connection with these matters. | |||||||||||||||||||||||||||||
North Carolina Ash Basin Grand Jury Investigation | |||||||||||||||||||||||||||||
As a result of the Dan River ash basin water release discussed above, DENR issued a Notice of Violation and Recommendation of Assessment of Civil Penalties with respect to this matter on February 28, 2014, which the company responded to on March 13, 2014. Duke Energy and certain Duke Energy employees received subpoenas issued by the United States Attorney for the Eastern District of North Carolina in connection with a criminal investigation related to the release and all 14 of the North Carolina facilities with ash basins and the nature of Duke Energy's contacts with DENR with respect to those facilities. This is a multidistrict investigation that also involves state law enforcement authorities. | |||||||||||||||||||||||||||||
On February 20, 2015, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Business Services LLC (DEBS), a wholly owned subsidiary of Duke Energy, each entered into a Memorandum of Plea Agreement (Plea Agreements) in connection with the investigation initiated by the United States Department of Justice Environmental Crimes Section and the United States Attorneys for the Eastern District of North Carolina, the Middle District of North Carolina and the Western District of North Carolina (collectively, USDOJ). The Plea Agreements are subject to the approval of the United States District Court for the Eastern District of North Carolina and, if approved, will end the grand jury investigation related to the Dan River ash basin release and the management of coal ash basins at 14 plants in North Carolina with coal ash basins, as discussed above. | |||||||||||||||||||||||||||||
Under the Plea Agreements, the USDOJ charged DEBS and Duke Energy Progress with four misdemeanor CWA violations related to violations at Duke Energy Progress’ H.F. Lee Steam Electric Plant, Cape Fear Steam Electric Plant and Asheville Steam Electric Generating Plant. The USDOJ charged Duke Energy Carolinas and DEBS with five misdemeanor CWA violations related to violations at Duke Energy Carolinas’ Dan River Steam Station and Riverbend Steam Station. DEBS, Duke Energy Carolinas and Duke Energy Progress also agreed (i) to a five-year probation period, (ii) to pay a total of approximately $68 million in fines and restitution and $34 million for community service and mitigation (the Payments), and (iii) to establish environmental compliance plans subject to the oversight of a court-appointed monitor paid for by the companies for the duration of the probation period (iii) for Duke Energy Carolinas and Duke Energy Progress each to maintain $250 million under their Master Credit Facility as security to meet their obligations under the Pleas Agreements, in addition to certain other conditions set out in the Plea Agreements. Payments under the Plea Agreements will be borne by shareholders and are not tax deductible. Duke Energy Corporation has agreed to issue a guarantee of all payments and performance due from the Companies, including but not limited to payments for fines, restitution, community service, mitigation and the funding of, and obligations under, the environmental compliance plans. As a result of the Plea Agreements, Duke Energy Carolinas and Duke Energy Progress recognized charges of $72 million and $30 million, respectively, in the fourth quarter of 2014. The amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||||||||||||||||||||
The Plea Agreements do not cover pending civil claims related to the Dan River coal ash release and operations at other North Carolina coal plants. Duke Energy Corporation will continue to cooperate with government agencies and defend against remaining civil litigation associated with these matters. | |||||||||||||||||||||||||||||
Duke Energy Carolinas | |||||||||||||||||||||||||||||
New Source Review | |||||||||||||||||||||||||||||
In 1999-2000, the U.S. Department of Justice on behalf of the EPA filed a number of complaints and notices of violation against multiple utilities, including Duke Energy Carolinas, for alleged violations of the New Source Review (NSR) provisions of the Clean Air Act (CAA). The government alleges the utilities violated the CAA when undertaking certain maintenance and repair projects at certain coal plants without (i) obtaining NSR permits and (ii) installing the best available emission controls for sulfur dioxide, nitrogen oxide and particulate matter. The complaints seek the installation of pollution control technology on generating units that allegedly violated the CAA, and unspecified civil penalties in amounts of up to $37,500 per day for each violation. Duke Energy Carolinas asserts there were no CAA violations because the applicable regulations do not require NSR permitting in cases where the projects undertaken are “routine” or otherwise do not result in a net increase in emissions. | |||||||||||||||||||||||||||||
In 2000, the government sued Duke Energy Carolinas in the U.S. District Court in Greensboro, North Carolina, claiming NSR violations for 29 projects performed at 25 of Duke Energy Carolinas’ coal-fired units. Duke Energy Carolinas asserts the projects were routine and not projected to increase emissions. The parties subsequently filed a stipulation agreeing to dismiss with prejudice all but 13 claims at 13 generating units, 11 of which have since been retired. The parties filed opposing motions for summary judgment on the remaining claims. The Court substantially denied both motions for summary judgment. A Duke Energy request for leave to file another motion for summary judgment on alternative grounds, including expiration of the applicable statute of limitations, was denied. On October 24, 2014, Duke Energy Carolinas filed a motion to certify an appeal of the statute of limitations issue to the U.S. Court of Appeals for the Fourth Circuit. That motion is pending. Trial date has been set for October 2015. It is not possible to predict whether Duke Energy Carolinas will incur any liability or to estimate the damages, if any, it might incur in connection with this matter. Ultimate resolution of these matters could have a material effect on the results of operations, cash flows or financial position of Duke Energy Carolinas. However, the appropriate regulatory recovery will be pursued for costs incurred in connection with such resolution. | |||||||||||||||||||||||||||||
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, 2014, there were 54 asserted claims for non-malignant cases with the cumulative relief sought of up to $11 million, and 28 asserted claims for malignant cases with the cumulative relief sought of up to $7 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 $575 million at December 31, 2014 and $616 million at December 31, 2013. These reserves are classified in Other within Deferred Credits and Other Liabilities and Other within Current Liabilities on the Consolidated Balance Sheets. These reserves are based upon the minimum amount of the range of loss for current and future asbestos claims through 2033, are recorded on an undiscounted basis and incorporate anticipated inflation. 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 2033 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 of $476 million. 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 for indemnification and medical cost claim payments is $864 million in excess of the self-insured retention. Receivables for insurance recoveries were $616 million at December 31, 2014 and $649 million at December 31, 2013. These amounts are classified in Other within Investments and Other Assets and Receivables 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. | |||||||||||||||||||||||||||||
Progress Energy | |||||||||||||||||||||||||||||
Synthetic Fuels Matters | |||||||||||||||||||||||||||||
Progress Energy and a number of its subsidiaries and affiliates are defendants in lawsuits arising out of a 1999 Asset Purchase Agreement. Parties to the Asset Purchase Agreement include U.S. Global, LLC (Global) and affiliates of Progress Energy. | |||||||||||||||||||||||||||||
In a case filed in the Circuit Court for Broward County, Florida, in March 2003 (the Florida Global Case), Global requested an unspecified amount of compensatory damages, as well as declaratory relief. In November 2009, the court ruled in favor of Global. In December 2009, Progress Energy made a $154 million payment which represented payment of the total judgment, including prejudgment interest, and a required premium equivalent to two years of interest, to the Broward County Clerk of Court bond account. Progress Energy continued to accrue interest related to this judgment. | |||||||||||||||||||||||||||||
On October 3, 2012, the Florida Fourth District Court of Appeals reversed the lower court ruling. The court held that Global was entitled to approximately $90 million of the amount paid into the registry of the court. Progress Energy was entitled to a refund of the remainder of the funds. Progress Energy received cash and recorded a $63 million pretax gain for the refund in December 2012. The gain was recorded in Income from Discontinued Operations, net of tax in the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||||||||||||||||||||
On May 9, 2013, Global filed a Seventh Amended Complaint asserting a single count for breach of the Asset Purchase Agreement and seeking specific performance. The parties reached a settlement in this matter in May 2014, and the case has been dismissed. The amount of the settlement did not have a material effect on the results of operations, cash flows or financial position of Progress Energy. As a result of the settlement of the Florida Global Case, a second suit filed in the Superior Court for Wake County, North Carolina, Progress Synfuel Holdings, Inc. et al. v. U.S. Global, LLC, has been dismissed. | |||||||||||||||||||||||||||||
Duke Energy Progress and Duke Energy Florida | |||||||||||||||||||||||||||||
Spent Nuclear Fuel Matters | |||||||||||||||||||||||||||||
On December 12, 2011, Duke Energy Progress and Duke Energy Florida sued the United States in the U.S. Court of Federal Claims. 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. Duke Energy Progress and Duke Energy Florida asserted damages for the period January 1, 2006 through December 31, 2010. Claims for all periods prior to 2006 have been resolved. On March 24, 2014, the U.S. Court of Federal Claims issued a judgment in favor of Duke Energy Progress and Duke Energy Florida on this matter, awarding amounts of $83 million and $21 million, respectively. The majority of the awards were recorded as a reduction to capital costs associated with construction of on-site storage facilities. Duke Energy Progress and Duke Energy Florida received payment of the award in September 2014. On October 16, 2014, Duke Energy Progress and Duke Energy Florida filed a new action for costs incurred from 2011 through 2013. | |||||||||||||||||||||||||||||
Duke Energy Florida | |||||||||||||||||||||||||||||
Westinghouse Contract Litigation | |||||||||||||||||||||||||||||
On March 28, 2014 Duke Energy Florida filed a lawsuit against Westinghouse in the U.S. District Court for the Western District of North Carolina. The lawsuit seeks recovery of $54 million in milestone payments in excess of work performed under the terminated EPC for Levy as well as a determination by the court of the amounts due to Westinghouse as a result of the termination of the EPC. | |||||||||||||||||||||||||||||
On March 31, 2014, Westinghouse filed a lawsuit against Duke Energy Florida in U.S. District Court for the Western District of Pennsylvania. The Pennsylvania lawsuit alleged damages under the EPC in excess of $510 million for engineering and design work, costs to end supplier contracts and an alleged termination fee. | |||||||||||||||||||||||||||||
On June 9, 2014, the judge in the North Carolina case ruled that the litigation will proceed in the Western District of North Carolina. In November 2014, Westinghouse filed a Motion for Partial Judgment on the pleadings which was denied by the Magistrate Judge on February 20, 2015, subject to court approval. Trial is set for February 2016. It is not possible to predict the outcome of the litigation and whether Duke Energy Florida will incur any liability for terminating the EPC or to estimate the damages, if any, it might incur in connection with these matters. Ultimate resolution of these matters could have a material effect on the results of operations, financial position or cash flows of Duke Energy Florida. However, appropriate regulatory recovery will be pursued for the retail portion of any costs incurred in connection with such resolution. | |||||||||||||||||||||||||||||
Duke Energy Ohio | |||||||||||||||||||||||||||||
Antitrust Lawsuit | |||||||||||||||||||||||||||||
In January 2008, four plaintiffs, including individual, industrial and nonprofit customers, filed a lawsuit against Duke Energy Ohio in federal court in the Southern District of Ohio. Plaintiffs alleged Duke Energy Ohio conspired to provide inequitable and unfair price advantages for certain large business consumers by entering into non-public option agreements in exchange for their withdrawal of challenges to Duke Energy Ohio’s Rate Stabilization Plan implemented in early 2005. In March 2014, a federal judge certified this matter as a class action. The parties have agreed to mediation on March 31, 2015. Trial has been set to begin on July 27, 2015. It is not possible to predict whether Duke Energy Ohio will incur any liability or to estimate the damages, if any, that may be incurred in connection with this matter. Ultimate resolution of this matter could have a material effect on the results of operations, cash flows or financial position of Duke Energy Ohio. | |||||||||||||||||||||||||||||
Any liability related to the lawsuit attributable to the Disposal Group will not be transferred to Dynegy upon closing of the disposal of the Midwest generation business. | |||||||||||||||||||||||||||||
Asbestos-related Injuries and Damages Claims | |||||||||||||||||||||||||||||
Duke Energy Ohio has been named as a defendant or co-defendant in lawsuits related to asbestos exposure at its electric generating stations. The impact on Duke Energy Ohio’s results of operations, cash flows or financial position of these cases to date has not been material. Based on estimates under varying assumptions concerning uncertainties, such as, among others: (i) the number of contractors potentially exposed to asbestos during construction or maintenance of Duke Energy Ohio generating plants, (ii) the possible incidence of various illnesses among exposed workers, and (iii) the potential settlement costs without federal or other legislation that addresses asbestos tort actions, Duke Energy Ohio estimates that the range of reasonably possible exposure in existing and future suits over the foreseeable future is not material. This assessment may change as additional settlements occur, claims are made, and more case law is established. | |||||||||||||||||||||||||||||
Duke Energy Indiana | |||||||||||||||||||||||||||||
Edwardsport IGCC | |||||||||||||||||||||||||||||
On December 11, 2012, Duke Energy Indiana filed an arbitration action against General Electric Company and Bechtel Corporation in connection with their work at the Edwardsport IGCC facility. Duke Energy Indiana is seeking damages equaling some or all of the additional costs incurred in the construction of the project not recovered at the IURC. The arbitration hearing concluded December 15, 2014. The parties will submit post hearing briefs. Duke Energy Indiana cannot predict the outcome of this matter. | |||||||||||||||||||||||||||||
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 discussed above, excluding asbestos related reserves. Reserves are classified on the Consolidated Balance Sheets in Other within Deferred Credits and Other Liabilities and Accounts payable and Other within Current Liabilities. The reasonably possible range of loss for all non-asbestos related matters in excess of recorded reserves is not material. | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | |||||||||||||||||||||||||||
Reserves for Legal Matters | |||||||||||||||||||||||||||||
Duke Energy | $ | 323 | $ | 204 | |||||||||||||||||||||||||
Duke Energy Carolinas | 72 | — | |||||||||||||||||||||||||||
Progress Energy | 93 | 78 | |||||||||||||||||||||||||||
Duke Energy Progress | 37 | 10 | |||||||||||||||||||||||||||
Duke Energy Florida | 36 | 43 | |||||||||||||||||||||||||||
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 unlimited maximum potential payments. However, the Duke Energy Registrants do not believe these guarantees will have a material effect on their results of operations, cash flows or financial position. | |||||||||||||||||||||||||||||
Purchase Obligations | |||||||||||||||||||||||||||||
Purchased Power | |||||||||||||||||||||||||||||
Duke Energy Progress and Duke Energy Florida 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, excluding contracts classified as leases. All contracts represent 100 percent of net plant output. | |||||||||||||||||||||||||||||
Minimum Purchase Amount at December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | Contract Expiration | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Duke Energy Progress | 2019-2022 | $ | 59 | 60 | $ | 61 | $ | 62 | $ | 63 | $ | 93 | $ | 398 | |||||||||||||||
Duke Energy Florida | 2023-2043 | 244 | 273 | 291 | 306 | 322 | 1,907 | 3,343 | |||||||||||||||||||||
Operating and Capital Lease Commitments | |||||||||||||||||||||||||||||
The Duke Energy Registrants lease office buildings, railcars, vehicles, computer equipment and other property and equipment with various terms and expiration dates. Additionally, Duke Energy Progress has a capital lease related to firm gas pipeline transportation capacity. Duke Energy Progress and Duke Energy Florida have entered into certain purchased power agreements, which are classified as leases. Consolidated capitalized lease obligations are classified as Long-Term Debt or Other within Current Liabilities on the Consolidated Balance Sheets. Amortization of assets recorded under capital leases is included in Depreciation and amortization and Fuel used in electric generation – regulated on the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||
The following table presents rental expense for operating leases. These amounts are included in Operation, maintenance and other on the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||
Duke Energy | $ | 355 | $ | 321 | $ | 232 | |||||||||||||||||||||||
Duke Energy Carolinas | 41 | 39 | 38 | ||||||||||||||||||||||||||
Progress Energy | 257 | 225 | 232 | ||||||||||||||||||||||||||
Duke Energy Progress | 161 | 153 | 164 | ||||||||||||||||||||||||||
Duke Energy Florida | 96 | 72 | 68 | ||||||||||||||||||||||||||
Duke Energy Ohio | 17 | 14 | 14 | ||||||||||||||||||||||||||
Duke Energy Indiana | 21 | 22 | 20 | ||||||||||||||||||||||||||
The following table presents future minimum lease payments under operating leases, which at inception had a non-cancelable term of more than one year. | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
2015 | $ | 205 | $ | 33 | $ | 129 | $ | 65 | $ | 64 | $ | 12 | $ | 17 | |||||||||||||||
2016 | 198 | 29 | 130 | 66 | 64 | 11 | 15 | ||||||||||||||||||||||
2017 | 172 | 26 | 111 | 65 | 46 | 9 | 13 | ||||||||||||||||||||||
2018 | 157 | 20 | 109 | 64 | 45 | 7 | 10 | ||||||||||||||||||||||
2019 | 148 | 17 | 103 | 58 | 45 | 6 | 9 | ||||||||||||||||||||||
Thereafter | 938 | 64 | 709 | 421 | 288 | 18 | 9 | ||||||||||||||||||||||
Total | $ | 1,818 | $ | 189 | $ | 1,291 | $ | 739 | $ | 552 | $ | 63 | $ | 73 | |||||||||||||||
The following table presents future minimum lease payments under capital leases. | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
2015 | $ | 178 | $ | 6 | $ | 46 | $ | 21 | $ | 26 | $ | 7 | $ | 4 | |||||||||||||||
2016 | 188 | 6 | 47 | 21 | 26 | 7 | 4 | ||||||||||||||||||||||
2017 | 190 | 7 | 47 | 21 | 26 | 3 | 2 | ||||||||||||||||||||||
2018 | 198 | 7 | 48 | 22 | 26 | 4 | 2 | ||||||||||||||||||||||
2019 | 208 | 8 | 51 | 25 | 26 | 2 | 2 | ||||||||||||||||||||||
Thereafter | 1,771 | 60 | 678 | 398 | 280 | — | 42 | ||||||||||||||||||||||
Minimum annual payments | 2,733 | 94 | 917 | 508 | 410 | 23 | 56 | ||||||||||||||||||||||
Less: amount representing interest | (1,305 | ) | (67 | ) | (603 | ) | (361 | ) | (242 | ) | (3 | ) | (39 | ) | |||||||||||||||
Total | $ | 1,428 | $ | 27 | $ | 314 | $ | 147 | $ | 168 | $ | 20 | $ | 17 | |||||||||||||||
Debt_and_Credit_Facilities
Debt and Credit Facilities | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
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, 2014 | ||||||||||||||||||||||||||||
(in millions) | Weighted Average Interest Rate | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||
Unsecured debt, maturing 2015 - 2073 | 4.92 | % | $ | 12,937 | $ | 1,155 | $ | 3,850 | $ | — | $ | 150 | $ | 773 | $ | 742 | ||||||||||||
Secured debt, maturing 2016 - 2037 | 2.5 | % | 2,806 | 400 | 525 | 300 | 225 | — | — | |||||||||||||||||||
First mortgage bonds, maturing 2015 - 2044(a) | 4.76 | % | 19,180 | 6,161 | 9,800 | 5,475 | 4,325 | 900 | 2,319 | |||||||||||||||||||
Capital leases, maturing 2015 - 2051(b) | 5.3 | % | 1,428 | 27 | 314 | 146 | 168 | 20 | 16 | |||||||||||||||||||
Tax-exempt bonds, maturing 2015 - 2041(c) | 2.13 | % | 1,296 | 355 | 291 | 291 | — | 77 | 573 | |||||||||||||||||||
Notes payable and commercial paper(d) | 0.7 | % | 2,989 | — | — | — | — | — | — | |||||||||||||||||||
Money pool/intercompany borrowings | — | 300 | 835 | — | 84 | 516 | 221 | |||||||||||||||||||||
Fair value hedge carrying value adjustment | 8 | 8 | — | — | — | — | — | |||||||||||||||||||||
Unamortized debt discount and premium, net(e) | 1,890 | (15 | ) | (26 | ) | (11 | ) | (8 | ) | (29 | ) | (9 | ) | |||||||||||||||
Total debt | 4.29 | % | $ | 42,534 | $ | 8,391 | $ | 15,589 | $ | 6,201 | $ | 4,944 | $ | 2,257 | $ | 3,862 | ||||||||||||
Short-term notes payable and commercial paper | (2,514 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Short-term money pool borrowings | — | — | (835 | ) | — | (84 | ) | (491 | ) | (71 | ) | |||||||||||||||||
Current maturities of long-term debt(f) | (2,807 | ) | (507 | ) | (1,507 | ) | (945 | ) | (562 | ) | (157 | ) | (5 | ) | ||||||||||||||
Total long-term debt(f) | 4.58 | % | $ | 37,213 | $ | 7,884 | $ | 13,247 | $ | 5,256 | $ | 4,298 | $ | 1,609 | $ | 3,786 | ||||||||||||
(a) Substantially all electric utility property is mortgaged under mortgage bond indentures. | ||||||||||||||||||||||||||||
(b) | Duke Energy includes $129 million and $787 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. | |||||||||||||||||||||||||||
(c) | Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. | |||||||||||||||||||||||||||
(d) | Includes $475 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted-average days to maturity was 27 days. | |||||||||||||||||||||||||||
(e) | Duke Energy includes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information. | |||||||||||||||||||||||||||
(f) | Refer to Note 17 for additional information on amounts from consolidated VIE’s. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Weighted Average Interest Rate | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||
Unsecured debt, maturing 2014 - 2073 | 5.18 | % | $ | 13,550 | $ | 1,157 | $ | 4,150 | $ | — | $ | 150 | $ | 805 | $ | 744 | ||||||||||||
Secured debt, maturing 2014 - 2037 | 2.69 | % | 2,559 | 400 | 305 | 305 | — | — | — | |||||||||||||||||||
First mortgage bonds, maturing 2015 - 2043(a) | 4.9 | % | 17,831 | 6,161 | 8,450 | 4,125 | 4,325 | 900 | 2,319 | |||||||||||||||||||
Capital leases, maturing 2014 - 2051(b) | 5.23 | % | 1,516 | 30 | 327 | 148 | 179 | 27 | 20 | |||||||||||||||||||
Other debt, maturing 2027 | 4.77 | % | 8 | — | — | — | — | 8 | — | |||||||||||||||||||
Tax-exempt bonds, maturing 2014 - 2041(c) | 1.28 | % | 2,356 | 395 | 910 | 669 | 241 | 479 | 573 | |||||||||||||||||||
Notes payable and commercial paper(d) | 1.02 | % | 1,289 | — | — | — | — | — | — | |||||||||||||||||||
Money pool/intercompany borrowings | — | 300 | 1,213 | 462 | 181 | 43 | 150 | |||||||||||||||||||||
Fair value hedge carrying value adjustment | 9 | 9 | — | — | — | — | — | |||||||||||||||||||||
Unamortized debt discount and premium, net(e) | 1,977 | (16 | ) | (27 | ) | (12 | ) | (9 | ) | (31 | ) | (10 | ) | |||||||||||||||
Total debt | 4.52 | % | $ | 41,095 | $ | 8,436 | $ | 15,328 | $ | 5,697 | $ | 5,067 | $ | 2,231 | $ | 3,796 | ||||||||||||
Short-term notes payable and commercial paper | (839 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Short-term money pool borrowings | — | — | (1,213 | ) | (462 | ) | (181 | ) | (43 | ) | — | |||||||||||||||||
Current maturities of long-term debt(f) | (2,104 | ) | (47 | ) | (485 | ) | (174 | ) | (11 | ) | (47 | ) | (5 | ) | ||||||||||||||
Total long-term debt(f) | 4.59 | % | $ | 38,152 | $ | 8,389 | $ | 13,630 | $ | 5,061 | $ | 4,875 | $ | 2,141 | $ | 3,791 | ||||||||||||
(a) Substantially all electric utility property is mortgaged under mortgage bond indentures. | ||||||||||||||||||||||||||||
(b) | Duke Energy includes $144 million and $838 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. | |||||||||||||||||||||||||||
(c) | Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. | |||||||||||||||||||||||||||
(d) | Includes $450 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted-average days to maturity was 49 days. | |||||||||||||||||||||||||||
(e) | Duke Energy includes $2,067 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information. | |||||||||||||||||||||||||||
(f) | Refer to Note 17 for additional information on amounts from consolidated VIE’s. | |||||||||||||||||||||||||||
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, 2014 | |||||||||||||||||||||||||
Unsecured Debt | ||||||||||||||||||||||||||||
Duke Energy (Parent) | Apr-15 | 3.35 | % | $ | 450 | |||||||||||||||||||||||
First Mortgage Bonds | ||||||||||||||||||||||||||||
Duke Energy Ohio | Mar-15 | 0.375 | % | 150 | ||||||||||||||||||||||||
Duke Energy Progress | Apr-15 | 5.15 | % | 300 | ||||||||||||||||||||||||
Duke Energy Carolinas | Oct-15 | 5.3 | % | 500 | ||||||||||||||||||||||||
Duke Energy Florida | Nov-15 | 0.65 | % | 250 | ||||||||||||||||||||||||
Duke Energy Florida | Dec-15 | 5.1 | % | 300 | ||||||||||||||||||||||||
Duke Energy Progress | Dec-15 | 5.25 | % | 400 | ||||||||||||||||||||||||
Tax-exempt Bonds | ||||||||||||||||||||||||||||
Duke Energy Progress | Jan-15 | 0.108 | % | 243 | ||||||||||||||||||||||||
Other | 214 | |||||||||||||||||||||||||||
Current maturities of long-term debt | $ | 2,807 | ||||||||||||||||||||||||||
Maturities and Call Options | ||||||||||||||||||||||||||||
The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable and commercial paper and money pool borrowings for the Subsidiary Registrants. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy(a) | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
2015 | $ | 2,793 | $ | 507 | $ | 1,507 | $ | 945 | $ | 562 | $ | 157 | $ | 5 | ||||||||||||||
2016 | 2,980 | 756 | 614 | 302 | 12 | 57 | 480 | |||||||||||||||||||||
2017 | 2,452 | 116 | 940 | 453 | 487 | 3 | 3 | |||||||||||||||||||||
2018 | 3,207 | 1,505 | 515 | 3 | 512 | 28 | 153 | |||||||||||||||||||||
2019 | 2,810 | 5 | 1,418 | 606 | 12 | 552 | 62 | |||||||||||||||||||||
Thereafter | 23,803 | 5,502 | 9,760 | 3,892 | 3,275 | 969 | 3,088 | |||||||||||||||||||||
Total long-term debt, including current maturities | $ | 38,045 | $ | 8,391 | $ | 14,754 | $ | 6,201 | $ | 4,860 | $ | 1,766 | $ | 3,791 | ||||||||||||||
(a) | Excludes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information. | |||||||||||||||||||||||||||
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, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||||
Tax-exempt bonds | $ | 347 | $ | 35 | $ | 27 | $ | 285 | ||||||||||||||||||||
Commercial paper | 475 | 300 | 25 | 150 | ||||||||||||||||||||||||
Secured debt(a) | 200 | — | — | — | ||||||||||||||||||||||||
Total | $ | 1,022 | $ | 335 | $ | 52 | $ | 435 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||||
Tax exempt bonds | $ | 471 | $ | 75 | $ | 111 | $ | 285 | ||||||||||||||||||||
Commercial paper | 450 | 300 | — | 150 | ||||||||||||||||||||||||
Secured debt(a) | 200 | — | — | — | ||||||||||||||||||||||||
Total | $ | 1,121 | $ | 375 | $ | 111 | $ | 435 | ||||||||||||||||||||
(a) | Instrument has a term of less than one year with the right to extend the maturity date for additional one-year periods with a final maturity date no later than December 2026. | |||||||||||||||||||||||||||
Summary of Significant Debt Issuances | ||||||||||||||||||||||||||||
The following tables summarize significant debt issuances (in millions). | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
Issuance Date | Maturity Date | Interest Rate | Duke Energy (Parent) | Duke Energy Progress | Duke Energy Florida | Duke Energy | ||||||||||||||||||||||
Unsecured Debt | ||||||||||||||||||||||||||||
April 2014(a) | Apr-24 | 3.75 | % | 600 | — | — | 600 | |||||||||||||||||||||
April 2014(a)(b) | Apr-17 | 0.613 | % | 400 | — | — | 400 | |||||||||||||||||||||
June 2014(c) | May-19 | 11.97 | % | — | — | — | 108 | |||||||||||||||||||||
June 2014(c) | May-21 | 13.68 | % | — | — | — | 110 | |||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
March 2014(d) | Mar-17 | 0.863 | % | — | — | 225 | 225 | |||||||||||||||||||||
July 2014(e) | Jul-36 | 5.34 | % | — | — | — | 129 | |||||||||||||||||||||
First Mortgage Bonds | ||||||||||||||||||||||||||||
March 2014(f) | Mar-44 | 4.375 | % | — | 400 | — | 400 | |||||||||||||||||||||
March 2014(f)(g) | Mar-17 | 0.435 | % | — | 250 | — | 250 | |||||||||||||||||||||
November 2014(h) | Dec-44 | 4.15 | % | — | 500 | — | 500 | |||||||||||||||||||||
November 2014(g)(h) | Nov-17 | 0.432 | % | — | 200 | — | 200 | |||||||||||||||||||||
Total issuances | $ | 1,000 | $ | 1,350 | $ | 225 | $ | 2,922 | ||||||||||||||||||||
(a) | Proceeds were used to redeem $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes. See Note 13 for additional information related to the redemption of Duke Energy Ohio's tax-exempt bonds. | |||||||||||||||||||||||||||
(b) | The debt is floating rate based on three-month London Interbank Offered Rate (LIBOR) plus a fixed credit spread of 38 basis points. | |||||||||||||||||||||||||||
(c) | Proceeds were used to repay $196 million of debt for International Energy and for general corporate purposes. | |||||||||||||||||||||||||||
(d) | Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 17 for further details. | |||||||||||||||||||||||||||
(e) | Proceeds were used to fund a portion of Duke Energy's prior investment in the existing Wind Star renewables portfolio. | |||||||||||||||||||||||||||
(f) | Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. | |||||||||||||||||||||||||||
(g) | The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 20 basis points. | |||||||||||||||||||||||||||
(h) | Proceeds will be used to redeem $450 million of tax-exempt bonds, repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
Issuance Date | Maturity Date | Interest Rate | Duke Energy (Parent) | Duke Energy Progress | Duke Energy Ohio | Duke Energy Indiana | Duke Energy | |||||||||||||||||||||
Unsecured Debt | ||||||||||||||||||||||||||||
January 2013(a) | Jan-73 | 5.125 | % | $ | 500 | $ | — | $ | — | $ | — | $ | 500 | |||||||||||||||
June 2013(b) | Jun-18 | 2.1 | % | 500 | — | — | — | 500 | ||||||||||||||||||||
August 2013(c)(d) | Aug-23 | 11 | % | ― | — | — | — | 220 | ||||||||||||||||||||
October 2013(e) | Oct-23 | 3.95 | % | 400 | — | — | — | 400 | ||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
February 2013(f)(g) | Dec-30 | 2.043 | % | — | — | — | — | 203 | ||||||||||||||||||||
February 2013(f) | Jun-37 | 4.74 | % | — | — | — | — | 220 | ||||||||||||||||||||
April 2013(h) | Apr-26 | 5.456 | % | — | — | — | — | 230 | ||||||||||||||||||||
December 2013(i) | Dec-16 | 0.852 | % | — | 300 | — | — | 300 | ||||||||||||||||||||
First Mortgage Bonds | ||||||||||||||||||||||||||||
March 2013(j) | Mar-43 | 4.1 | % | — | 500 | — | — | 500 | ||||||||||||||||||||
July 2013(k) | Jul-43 | 4.9 | % | — | — | — | 350 | 350 | ||||||||||||||||||||
July 2013(k)(l) | Jul-16 | 0.619 | % | — | — | — | 150 | 150 | ||||||||||||||||||||
September 2013(m) | Sep-23 | 3.8 | % | — | — | 300 | — | 300 | ||||||||||||||||||||
September 2013(m)(n) | Mar-15 | 0.4 | % | — | — | 150 | — | 150 | ||||||||||||||||||||
Total issuances | $ | 1,400 | $ | 800 | $ | 450 | $ | 500 | $ | 4,023 | ||||||||||||||||||
(a) | Callable after January 2018 at par. Proceeds were used to redeem the $300 million 7.10% Cumulative Quarterly Income Preferred Securities (QUIPS) and to repay a portion of outstanding commercial paper and for general corporate purposes. | |||||||||||||||||||||||||||
(b) | Proceeds were used to repay $250 million of current maturities and for general corporate purposes, including the repayment of outstanding commercial paper. | |||||||||||||||||||||||||||
(c) | Proceeds were used to repay $200 million of current maturities. The maturity date included above applies to half of the instrument. The remaining half matures in August 2018. | |||||||||||||||||||||||||||
(d) | The debt is floating rate based on a consumer price index and an overnight funds rate in Brazil. The debt is denominated in Brazilian Real. | |||||||||||||||||||||||||||
(e) | Proceeds were used to repay commercial paper as well as for general corporate purposes. | |||||||||||||||||||||||||||
(f) | Represents the conversion of construction loans related to two renewable energy projects issued in December 2012 to term loans. No cash proceeds were received in conjunction with the conversion. The term loans have varying maturity dates. The maturity date presented represents the latest date for all components of the respective loans. | |||||||||||||||||||||||||||
(g) | The debt is floating rate. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 95 percent of the loans. | |||||||||||||||||||||||||||
(h) | Represents the conversion of a $190 million bridge loan issued in conjunction with the acquisition of Ibener in December 2012. Duke Energy received incremental proceeds of $40 million upon conversion of the bridge loan. The debt is floating rate and is denominated in U.S. dollars. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 75 percent of the loan. | |||||||||||||||||||||||||||
(i) | Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Progress; the proceeds were used to repay short-term debt. See Note 17 for further details. | |||||||||||||||||||||||||||
(j) | Proceeds were used to repay notes payable to affiliated companies as well as for general corporate purposes. | |||||||||||||||||||||||||||
(k) | Proceeds were used to repay $400 million of current maturities. | |||||||||||||||||||||||||||
(l) | The debt is floating rate based on three-month LIBOR and a fixed credit spread of 35 basis points. | |||||||||||||||||||||||||||
(m) | Proceeds were used for general corporate purposes including the repayment of short-term notes payable, a portion of which was incurred to fund the retirement of $250 million of first mortgage bonds that matured in the first half of 2013. | |||||||||||||||||||||||||||
(n) | The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 14 basis points. | |||||||||||||||||||||||||||
Available Credit Facilities | ||||||||||||||||||||||||||||
At December 31, 2014, Duke Energy had a Master Credit Facility with a capacity of $6 billion through December 2018. In January 2015, Duke Energy amended the Master Credit Facility to increase its capacity to $7.5 billion through January 2020. The Duke Energy Registrants, excluding Progress Energy, each have borrowing capacity under the Master Credit Facility up to specified sublimits for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop the issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. The table below includes the current borrowing sublimits and available capacity under the Master Credit Facility. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy (Parent) | Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Facility size(a) | $ | 6,000 | $ | 2,250 | $ | 1,000 | $ | 750 | $ | 650 | $ | 650 | $ | 700 | ||||||||||||||
Reduction to backstop issuances | ||||||||||||||||||||||||||||
Commercial paper(b) | (2,021 | ) | (1,479 | ) | (300 | ) | — | (29 | ) | (38 | ) | (175 | ) | |||||||||||||||
Outstanding letters of credit | (70 | ) | (62 | ) | (4 | ) | (2 | ) | (1 | ) | — | (1 | ) | |||||||||||||||
Tax-exempt bonds | (116 | ) | — | (35 | ) | — | — | — | (81 | ) | ||||||||||||||||||
Available capacity | $ | 3,793 | $ | 709 | $ | 661 | $ | 748 | $ | 620 | $ | 612 | $ | 443 | ||||||||||||||
(a) | Represents the sublimit of each borrower. | |||||||||||||||||||||||||||
(b) | Duke Energy issued $475 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
On February 20, 2015, Duke Energy Carolinas, Duke Energy Progress and DEBS, a wholly owned subsidiary of Duke Energy, each entered into the Plea Agreements in connection with the investigation initiated by the USDOJ. Under the terms of the Plea Agreements, Duke Energy Carolinas and Duke Energy Progress are required to each maintain $250 million of available capacity under the Master Credit Facility as security to meet their obligations under the Plea Agreements, in addition to certain other conditions set out in the Plea Agreements. The Plea Agreements are subject to court approval. See Note 5 for further details. | ||||||||||||||||||||||||||||
Other Debt Matters | ||||||||||||||||||||||||||||
In September 2013, Duke Energy filed a registration statement (Form S-3) with the Securities and Exchange Commission (SEC). Under this Form S-3, which is uncapped, the Duke Energy Registrants, excluding Progress Energy, may issue debt and other securities in the future at amounts, prices and with terms to be determined at the time of future offerings. The registration statement also allows for the issuance of common stock by Duke Energy. | ||||||||||||||||||||||||||||
Duke Energy has an effective Form S-3 with the SEC to sell up to $3 billion of variable denomination floating-rate demand notes, called PremierNotes. The Form S-3 states that no more than $1.5 billion of the notes will be outstanding at any particular time. The notes are offered on a continuous basis and bear interest at a floating rate per annum determined by the Duke Energy PremierNotes Committee, or its designee, on a weekly basis. The interest rate payable on notes held by an investor may vary based on the principal amount of the investment. The notes have no stated maturity date, are non-transferable and may be redeemed in whole or in part by Duke Energy or at the investor’s option at any time. The balance as of December 31, 2014 and 2013 was $968 million and $836 million, respectively. The notes are short-term debt obligations of Duke Energy and are reflected as Notes payable and commercial paper on Duke Energy’s Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
At December 31, 2014 and 2013, $767 million and $811 million, respectively, of debt issued by Duke Energy Carolinas was guaranteed by Duke Energy. | ||||||||||||||||||||||||||||
Money Pool | ||||||||||||||||||||||||||||
The Subsidiary Registrants, excluding Progress Energy receive support for their short-term borrowing needs through participation with Duke Energy and certain of its subsidiaries in a money pool arrangement. Under this arrangement, those companies with short-term funds may provide short-term loans to affiliates participating in this arrangement. The money pool is structured such that the Subsidiary Registrants, excluding Progress Energy, separately manage their cash needs and working capital requirements. Accordingly, there is no net settlement of receivables and payables between money pool participants. Duke Energy (Parent), may loan funds to its participating subsidiaries, but may not borrow funds through the money pool. Accordingly, as the money pool activity is between Duke Energy and its wholly owned subsidiaries, all money pool balances are eliminated within Duke Energy’s Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
Money pool receivable balances are reflected within Notes receivable from affiliated companies on the Subsidiary Registrants’ Consolidated Balance Sheets. Money pool payable balances are reflected within either Notes payable to affiliated companies or Long-Term Debt Payable to Affiliated Companies on the Subsidiary Registrants’ Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
Restrictive Debt Covenants | ||||||||||||||||||||||||||||
The Duke Energy Registrants’ debt and credit agreements contain various financial and other covenants. The Master Credit Facility contains a covenant requiring the debt-to-total capitalization ratio not exceed 65 percent for each borrower. Failure to meet those covenants beyond applicable grace periods could result in accelerated due dates and/or termination of the agreements. As of December 31, 2014, each of the Duke Energy Registrants were in compliance with all covenants related to their significant 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 significant debt or credit agreements contain material adverse change clauses. | ||||||||||||||||||||||||||||
Other Loans | ||||||||||||||||||||||||||||
During 2014 and 2013, Duke Energy and Duke Energy Progress had loans outstanding against the cash surrender value of life insurance policies it owns on the lives of its executives. The amounts outstanding were $603 million, including $44 million at Duke Energy Progress and $571 million, including $48 million at Duke Energy Progress as of December 31, 2014 and 2013, respectively. The amounts outstanding were carried as a reduction of the related cash surrender value that is included in Other within Investments and Other Assets on the Consolidated Balance Sheets. |
Guarantees_and_Indemnification
Guarantees and Indemnifications | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Guarantees [Abstract] | ||||||||
Guarantees and Indemnifications | GUARANTEES AND INDEMNIFICATIONS | |||||||
Duke Energy and Progress Energy have various financial and performance guarantees and indemnifications, which are issued in the normal course of business. As discussed below, these contracts include performance guarantees, stand-by letters of credit, debt guarantees, surety bonds and indemnifications. Duke Energy and Progress Energy enter into these arrangements to facilitate commercial transactions with third parties by enhancing the value of the transaction to the third party. At December 31, 2014, Duke Energy and Progress Energy do not believe conditions are likely for significant performance under these guarantees. To the extent liabilities are incurred as a result of the activities covered by the guarantees, such liabilities are included on the accompanying Consolidated Balance Sheets. | ||||||||
On January 2, 2007, Duke Energy completed the spin-off of its natural gas businesses to shareholders. Guarantees issued by Duke Energy or its affiliates, or assigned to Duke Energy prior to the spin-off, remained with Duke Energy subsequent to the spin-off. Guarantees issued by Spectra Energy Capital, LLC, formerly known as Duke Capital LLC, (Spectra Capital) or its affiliates prior to the spin-off remained with Spectra Capital subsequent to the spin-off, except for guarantees that were later assigned to Duke Energy. Duke Energy has indemnified Spectra Capital against any losses incurred under certain of the guarantee obligations that remain with Spectra Capital. At December 31, 2014, the maximum potential amount of future payments associated with these guarantees was $205 million, the majority of which expires by 2028. | ||||||||
Duke Energy has issued performance guarantees to customers and other third parties that guarantee the payment and performance of other parties, including certain non-wholly owned entities, as well as guarantees of debt of certain non-consolidated entities and less than wholly owned consolidated entities. If such entities were to default on payments or performance, Duke Energy would be required under the guarantees to make payments on the obligations of the less than wholly owned entity. The maximum potential amount of future payments required under these guarantees as of December 31, 2014, was $267 million. Of this amount, $15 million relates to guarantees issued on behalf of less than wholly owned consolidated entities, with the remainder related to guarantees issued on behalf of third parties and unconsolidated affiliates of Duke Energy. Of the guarantees noted above, $120 million of the guarantees expire between 2015 and 2033, with the remaining performance guarantees having no contractual expiration. | ||||||||
Duke Energy has guaranteed certain issuers of surety bonds, obligating itself to make payment upon the failure of a wholly owned and former non-wholly owned entity to honor its obligations to a third party. Under these arrangements, Duke Energy has payment obligations that are triggered by a draw by the third party or customer due to the failure of the wholly owned or former non-wholly owned entity to perform according to the terms of its underlying contract. At December 31, 2014, Duke Energy had guaranteed $44 million of outstanding surety bonds, most of which have no set expiration. | ||||||||
Duke Energy uses bank-issued stand-by letters of credit to secure the performance of wholly owned and non-wholly owned entities to a third party or customer. Under these arrangements, Duke Energy has payment obligations to the issuing bank which are triggered by a draw by the third party or customer due to the failure of the wholly owned or non-wholly owned entity to perform according to the terms of its underlying contract. At December 31, 2014, Duke Energy had issued a total of $452 million in letters of credit, which expire between 2015 and 2020. The unused amount under these letters of credit was $46 million. | ||||||||
Duke Energy and Progress Energy have issued indemnifications for certain asset performance, legal, tax and environmental matters to third parties, including indemnifications made in connection with sales of businesses. At December 31, 2014, the estimated maximum exposure for these indemnifications was $107 million, the majority of which expires in 2017. Of this amount, $7 million has no contractual expiration. For certain matters for which Progress Energy receives timely notice, indemnity obligations may extend beyond the notice period. Certain indemnifications related to discontinued operations have no limitations as to time or maximum potential future payments. | ||||||||
The following table includes the liabilities recognized for the guarantees discussed above. These amounts are primarily recorded in Other within Deferred Credits and other Liabilities on the Consolidated Balance Sheets. As current estimates change, additional losses related to guarantees and indemnifications to third parties, which could be material, may be recorded by the Duke Energy Registrants in the future. | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Duke Energy | $ | 28 | $ | 24 | ||||
Progress Energy | 13 | 9 | ||||||
Duke Energy Florida | 7 | 3 | ||||||
Joint_Ownership_of_Generating_
Joint Ownership of Generating and Transmission Facilities | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
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 hold ownership interests in certain jointly owned generating and transmission facilities. The Duke Energy Registrants are entitled to shares of the generating capacity and output of each unit equal to their respective ownership interests, except as outlined below. The Duke Energy Registrants pay their ownership share of additional construction costs, fuel inventory purchases and operating expenses, except in certain instances where agreements have been executed to limit certain joint owners’ maximum exposure to the additional costs. The Duke Energy Registrants share of revenues and operating costs of the jointly owned generating facilities is included within the corresponding line in the Consolidated Statements of Operations. Each participant in the jointly owned facilities must provide its own financing, except in certain instances where agreements have been executed to limit certain joint owners’ maximum exposure to the additional costs. | |||||||||||||||
The following table presents the share of jointly owned plant or facilities included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants unless otherwise noted. | |||||||||||||||
December 31, 2014 | |||||||||||||||
Ownership Share | Property, Plant and Equipment | Accumulated Depreciation | Construction Work in Progress | ||||||||||||
Duke Energy Carolinas | |||||||||||||||
Catawba Nuclear Station (Units 1 and 2)(a)(b) | 19.25 | % | $ | 886 | $ | 534 | $ | 29 | |||||||
Duke Energy Progress | |||||||||||||||
Mayo Station(a)(c) | 83.83 | % | 1,111 | 360 | 10 | ||||||||||
Shearon Harris Nuclear Station(a)(c) | 83.83 | % | 3,872 | 2,242 | 208 | ||||||||||
Brunswick Nuclear Station(a)(c) | 81.67 | % | 2,673 | 1,372 | 290 | ||||||||||
Roxboro Station (Unit 4)(a)(c) | 87.06 | % | 954 | 514 | 24 | ||||||||||
Duke Energy Florida | |||||||||||||||
Crystal River Nuclear Station (Unit 3)(a)(d) | 91.78 | % | — | — | — | ||||||||||
Intercession City Station (Unit P11)(a) | (e) | 24 | 14 | — | |||||||||||
Duke Energy Ohio | |||||||||||||||
Miami Fort Station (Units 7 and 8)(f)(g) | 64 | % | — | — | — | ||||||||||
J.M. Stuart Station(f)(h)(i) | 39 | % | — | — | — | ||||||||||
Conesville Station (Unit 4)(f)(h)(i) | 40 | % | — | — | — | ||||||||||
W.M. Zimmer Station(f)(h) | 46.5 | % | — | — | — | ||||||||||
Killen Station(f)(g)(i) | 33 | % | — | — | — | ||||||||||
Transmission facilities(a)(h) | Various | 96 | 51 | 1 | |||||||||||
Duke Energy Indiana | |||||||||||||||
Gibson Station (Unit 5)(a)(j) | 50.05 | % | 315 | 170 | 6 | ||||||||||
Vermillion(a)(k) | 62.5 | % | 154 | 105 | — | ||||||||||
Transmission and local facilities(a)(j) | Various | 3,918 | 1,633 | — | |||||||||||
International Energy | |||||||||||||||
Brazil - Canoas I and II(l) | 47.2 | % | 235 | 78 | — | ||||||||||
(a) | Included in Regulated Utilities segment. | ||||||||||||||
(b) | Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and Piedmont Municipal Power Agency. | ||||||||||||||
(c) | Jointly owned with NCEMPA. Duke Energy Progress executed an agreement in September 2014 to purchase NCEMPA's ownership interest in these facilities. See Note 2 for further discussion. | ||||||||||||||
(d) | All costs associated with Crystal River Unit 3 are included within Regulatory assets on the Consolidated Balance Sheets of Duke Energy, Progress Energy and Duke Energy Florida. See Note 4 for additional information. Co-owned with Seminole Electric Cooperative, Inc., City of Ocala, Orlando Utilities Commission, City of Gainesville, City of Leesburg, Kissimmee Utility Authority, Utilities Commission of the City of New Smyrna Beach, City of Alachua and City of Bushnell (Florida Municipal Joint Owners). Duke Energy Florida is in the process of obtaining the remaining ownership interest from the Florida Municipal Joint Owners. | ||||||||||||||
(e) | Jointly owned with Georgia Power Company (GPC). GPC has exclusive rights to the output of the unit during the months of June through September and pays all fuel and water costs during this period. Duke Energy Florida pays all fuel and water costs during the remaining months. Other costs are allocated 66.67 percent to Duke Energy Florida and the remainder to GPC. | ||||||||||||||
(f) | All costs associated with these plants are included in Assets held for sale on the Consolidated Balance Sheets of Duke Energy and Duke Energy Ohio as part of the Disposal Group. See Note 2 for further discussion. | ||||||||||||||
(g) | Jointly owned with The Dayton Power and Light Company. | ||||||||||||||
(h) | Jointly owned with America Electric Power Generation Resources and The Dayton Power and Light Company. | ||||||||||||||
(i) | Station is not operated by Duke Energy Ohio. | ||||||||||||||
(j) | Jointly owned with WVPA and Indiana Municipal Power Agency. | ||||||||||||||
(k) | Jointly owned with WVPA. | ||||||||||||||
(l) | Included in International Energy segment. Jointly owned with Companhia Brasileira de Aluminio. |
Asset_Retirement_Obligations
Asset Retirement Obligations | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Asset Retirement Obligation [Abstract] | ||||||||||||||||||||||||||||
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS | |||||||||||||||||||||||||||
Asset retirement obligations recognized by Duke Energy Carolinas, Progress Energy and Duke Energy Progress relate primarily to decommissioning nuclear power facilities, closure of ash basins in North Carolina and South Carolina, asbestos removal and closure of landfills at fossil generation facilities. Asset retirement obligations recognized at Duke Energy Florida relate primarily to decommissioning nuclear power facilities, asbestos removal and closure of landfills at fossil generation facilities. Asset retirement obligations at Duke Energy Ohio relate primarily to the retirement of natural gas mains, asbestos removal and closure of landfills at fossil generation facilities. Asset retirement obligations at Duke Energy Indiana relate primarily to obligations associated with asbestos removal and closure of landfills at fossil generation facilities. Duke Energy also has asset retirement obligations related to the removal of renewable energy generation assets in addition to the above items. Certain of the Duke Energy Registrants’ assets have an indeterminate life, such as transmission and distribution facilities, and thus the fair value of the retirement obligation is not reasonably estimable. A liability for these asset retirement obligations will be recorded when a fair value is determinable. | ||||||||||||||||||||||||||||
The following table presents changes in the liability associated with asset retirement obligations. | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Balance at December 31, 2012(a) | $ | 5,176 | $ | 1,959 | $ | 2,420 | $ | 1,656 | $ | 764 | $ | 28 | $ | 37 | ||||||||||||||
Acquisitions | 4 | — | — | — | — | — | — | |||||||||||||||||||||
Accretion expense(b) | 239 | 122 | 113 | 80 | 33 | 2 | — | |||||||||||||||||||||
Liabilities settled | (12 | ) | — | (12 | ) | — | (12 | ) | — | — | ||||||||||||||||||
Revisions in estimates of cash flows(c) | (449 | ) | (487 | ) | 49 | 1 | 48 | (2 | ) | (7 | ) | |||||||||||||||||
Balance at December 31, 2013(a) | 4,958 | 1,594 | 2,570 | 1,737 | 833 | 28 | 30 | |||||||||||||||||||||
Acquisitions | 4 | — | — | — | — | — | — | |||||||||||||||||||||
Accretion expense(b) | 246 | 113 | 135 | 97 | 38 | 2 | 2 | |||||||||||||||||||||
Liabilities settled(d) | (68 | ) | — | (68 | ) | — | (68 | ) | — | — | ||||||||||||||||||
Liabilities incurred in the current year(e) | 3,500 | 1,717 | 1,783 | 1,783 | — | — | — | |||||||||||||||||||||
Revisions in estimates of cash flows(c) | (174 | ) | 4 | 291 | 288 | 3 | (3 | ) | — | |||||||||||||||||||
Balance at December 31, 2014 | $ | 8,466 | $ | 3,428 | $ | 4,711 | $ | 3,905 | $ | 806 | $ | 27 | $ | 32 | ||||||||||||||
(a) | Balances at December 31, 2013 and 2012, include $8 million and $7 million, respectively, reported in Other current liabilities on the Consolidated Balance Sheets at Duke Energy, Progress Energy and Duke Energy Progress. | |||||||||||||||||||||||||||
(b) | Substantially all accretion expense for the years ended December 31, 2014 and 2013 relates to Duke Energy’s regulated electric operations and has been deferred in accordance with regulatory accounting treatment. | |||||||||||||||||||||||||||
(c) | For 2014, amounts for Duke Energy, Progress Energy and Duke Energy Progress primarily relate to Duke Energy Progress' site-specific nuclear decommissioning cost studies. Amounts at Duke Energy also include impacts from Duke Energy Progress' site-specific nuclear decommissioning cost studies on purchase accounting amounts. For 2013, amounts for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Florida primarily relate to the site-specific nuclear decommissioning cost studies. | |||||||||||||||||||||||||||
(d) | Amounts relate to liability settlements for Crystal River Unit 3. | |||||||||||||||||||||||||||
(e) | Amounts primarily relate to asset retirement obligations recorded as a result of the Coal Ash Act and an agreement with the SCDHEC related to the W.S. Lee Steam Station. | |||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||
Ash Basins | ||||||||||||||||||||||||||||
As of December 31, 2014, as a result of the Coal Ash Act and the agreement with SCDHEC discussed in Note 5, Duke Energy Carolinas and Duke Energy Progress have asset retirement obligations in the amount of $1,735 million and $1,792 million, respectively, related to closure of ash basins in North Carolina and South Carolina. | ||||||||||||||||||||||||||||
The asset retirement obligation amount is based upon estimated ash basin closure costs for each of Duke Energy's 32 ash basins located at 14 plants in North Carolina and an ash basin and ash fill area at a plant in South Carolina. The amount recorded represents the discounted cash flows for estimated ash basin closure costs based upon probability weightings of the potential closure methods as evaluated on a site by site basis. Actual costs to be incurred will be dependent upon factors that vary from site to site. The most significant factors are the method and timeframe of closure at the individual sites. Closure methods considered include removing the water from the basins 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 future standards set by the Coal Ash Management Commission established by the Coal Ash Act. The asset retirement obligation amounts will be adjusted as additional information is gained from the Coal Ash Management Commission on acceptable compliance approaches which may change management assumptions. | ||||||||||||||||||||||||||||
Asset retirement costs associated with the asset retirement obligations for operating plants and retired plants are included in Net property, plant and equipment, and Regulatory assets, respectively, on the Consolidated Balance Sheets. Of the asset retirement obligations recorded, $896 million and $603 million were recorded in Net property, plant and equipment for Duke Energy Carolinas and Duke Energy Progress, respectively, and $839 million and $1,152 million were recorded in Regulatory assets for Duke Energy Carolinas and Duke Energy Progress, respectively. The asset retirement costs recorded for Duke Energy Progress are net of $37 million of Regulatory liabilities related to cost of removal. Cost recovery for these expenditures is believed to be probable and will be pursued through the normal ratemaking process with the NCUC, PSCSC and FERC. | ||||||||||||||||||||||||||||
In December 2014, the EPA signed the first regulation for the disposal of CCR. The federal regulation classifies CCR as nonhazardous waste. The regulation applies to all new and existing landfills, new and existing surface impoundments, structural fills and CCR piles. The law establishes requirements regarding landfill design, structural integrity design and assessment criteria for surface impoundments, groundwater monitoring and protection procedures and other operational and reporting procedures to ensure the safe disposal and management of CCR. Once the rule is effective in 2015, additional ARO amounts will be recorded at the Duke Energy Registrants. For more information, see Note 5. | ||||||||||||||||||||||||||||
Nuclear Decommissioning Costs | ||||||||||||||||||||||||||||
Use of the NDTF investments are restricted to nuclear decommissioning activities. The NDTF investments are managed and invested in accordance with applicable requirements of various regulatory bodies, including the NRC, FERC, NCUC, PSCSC, FPSC and the Internal Revenue Service (IRS). The fair value of assets legally restricted for purposes of settling asset retirement obligations associated with nuclear decommissioning are $5,182 million and $2,678 million for Duke Energy and Duke Energy Carolinas at December 31, 2014, respectively, and $4,769 million and $2,477 million for Duke Energy and Duke Energy Carolinas at December 31, 2013, respectively. The NDTF balances for Progress Energy, Duke Energy Progress and Duke Energy Florida represent the fair value of assets legally restricted for purposes of settling asset retirement obligations associated with nuclear decommissioning. The NCUC, PSCSC and FPSC require updated cost estimates for decommissioning nuclear plants every five years. | ||||||||||||||||||||||||||||
The following table summarizes information about nuclear decommissioning cost studies. | ||||||||||||||||||||||||||||
(in millions) | Annual Funding Requirement | Decommissioning Costs(a)(b)(c) | Year of Cost Study | |||||||||||||||||||||||||
Duke Energy Carolinas(d) | $ | 21 | $ | 3,420 | 2013 | |||||||||||||||||||||||
Duke Energy Progress(e) | 14 | 3,062 | 2014 | |||||||||||||||||||||||||
Duke Energy Florida | — | 1,083 | 2013 | |||||||||||||||||||||||||
(a) | Represents cost per the most recent site-specific nuclear decommissioning cost studies, including costs to decommission plant components not subject to radioactive contamination. | |||||||||||||||||||||||||||
(b) | Includes the Subsidiary Registrants' ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. | |||||||||||||||||||||||||||
(c) | Amounts are in dollars of year of cost study. | |||||||||||||||||||||||||||
(d) | In the fourth quarter of 2014, Duke Energy Carolinas requested from the NCUC a reduction in the annual funding requirement to zero. Duke Energy Carolinas received approval from the NCUC in January 2015. | |||||||||||||||||||||||||||
(e) | Duke Energy Progress' site-specific cost nuclear decommissioning cost studies are expected to be filed with the NCUC and PSCSC by the second quarter of 2015. Duke Energy Progress will also complete a new funding study, which will be completed and filed with the NCUC and PSCSC in 2015. | |||||||||||||||||||||||||||
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 Unit 1 | 2043 | |||||||||||||||||||||||||||
Catawba Unit 2 | 2043 | |||||||||||||||||||||||||||
McGuire Unit 1 | 2041 | |||||||||||||||||||||||||||
McGuire Unit 2 | 2043 | |||||||||||||||||||||||||||
Oconee Unit 1 | 2033 | |||||||||||||||||||||||||||
Oconee Unit 2 | 2033 | |||||||||||||||||||||||||||
Oconee Unit 3 | 2034 | |||||||||||||||||||||||||||
Duke Energy Progress | ||||||||||||||||||||||||||||
Brunswick Unit 1 | 2036 | |||||||||||||||||||||||||||
Brunswick Unit 2 | 2034 | |||||||||||||||||||||||||||
Harris | 2046 | |||||||||||||||||||||||||||
Robinson | 2030 | |||||||||||||||||||||||||||
Duke Energy Florida | ||||||||||||||||||||||||||||
Crystal River Unit 3 | (a) | |||||||||||||||||||||||||||
(a) | Duke Energy Florida has requested the NRC terminate the operating license as Crystal River Unit 3 permanently ceased operation in February 2013. Refer to Note 4 for further information on decommissioning activity and transition to SAFSTOR. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT | |||||||||||||||||||||||||||||
The following tables summarize the property, plant and equipment. | ||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||
(in millions) | Estimated Useful Life (Years) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Land | $ | 1,459 | $ | 403 | $ | 704 | $ | 380 | $ | 324 | $ | 114 | $ | 108 | ||||||||||||||||
Plant - Regulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 138 | 82,206 | 31,751 | 33,672 | 20,616 | 13,056 | 3,956 | 11,911 | ||||||||||||||||||||||
Natural gas transmission and distribution | Dec-67 | 2,230 | — | — | — | — | 2,230 | — | ||||||||||||||||||||||
Other buildings and improvements | 9 - 100 | 1,445 | 465 | 607 | 286 | 318 | 200 | 173 | ||||||||||||||||||||||
Plant - Nonregulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 30-Jan | 2,380 | — | — | — | — | — | — | ||||||||||||||||||||||
Other buildings and improvements | May-50 | 2,498 | — | — | — | — | — | — | ||||||||||||||||||||||
Nuclear fuel | 2,865 | 1,676 | 1,190 | 1,190 | — | — | — | |||||||||||||||||||||||
Equipment | Mar-34 | 1,762 | 341 | 506 | 388 | 118 | 330 | 166 | ||||||||||||||||||||||
Construction in process | 4,519 | 2,081 | 1,215 | 908 | 307 | 97 | 481 | |||||||||||||||||||||||
Other | May-80 | 3,497 | 655 | 756 | 439 | 310 | 214 | 195 | ||||||||||||||||||||||
Total property, plant and equipment(a)(d) | 104,861 | 37,372 | 38,650 | 24,207 | 14,433 | 7,141 | 13,034 | |||||||||||||||||||||||
Total accumulated depreciation - regulated(b)(c)(d) | (32,628 | ) | (12,700 | ) | (13,506 | ) | (9,021 | ) | (4,478 | ) | (2,213 | ) | (4,219 | ) | ||||||||||||||||
Total accumulated depreciation - nonregulated(c)(d) | (2,196 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Generation facilities to be retired, net | 9 | — | — | — | — | 9 | — | |||||||||||||||||||||||
Total net property, plant and equipment | $ | 70,046 | $ | 24,672 | $ | 25,144 | $ | 15,186 | $ | 9,955 | $ | 4,937 | $ | 8,815 | ||||||||||||||||
(a) | Includes capitalized leases of $1,548 million, $40 million, $315 million, $146 million, $169 million, $98 million, and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $72 million, $5 million and $67 million, respectively, of accumulated amortization of capitalized leases. | |||||||||||||||||||||||||||||
(b) | Includes $1,408 million, $847 million, $561 million and $561 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. | |||||||||||||||||||||||||||||
(c) | Includes accumulated amortization of capitalized leases of $52 million, $8 million, $25 million and $6 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. | |||||||||||||||||||||||||||||
(d) | Includes gross property, plant and equipment cost of consolidated VIEs of $1,873 million and accumulated depreciation of consolidated VIEs of $257 million at Duke Energy. | |||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||
(in millions) | Estimated Useful Life (Years) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Land | $ | 1,481 | $ | 397 | $ | 705 | $ | 383 | $ | 321 | $ | 137 | $ | 105 | ||||||||||||||||
Plant - Regulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 125 | 78,272 | 30,018 | 31,792 | 19,190 | 12,601 | 3,925 | 11,594 | ||||||||||||||||||||||
Natural gas transmission and distribution | Dec-67 | 2,138 | — | — | — | — | 2,138 | — | ||||||||||||||||||||||
Other buildings and improvements | 2 - 100 | 1,397 | 447 | 610 | 282 | 315 | 190 | 159 | ||||||||||||||||||||||
Plant - Nonregulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 100 | 6,267 | — | — | — | — | 4,017 | — | ||||||||||||||||||||||
Other buildings and improvements | 9 -100 | 2,512 | — | — | — | — | 5 | — | ||||||||||||||||||||||
Nuclear fuel | 2,458 | 1,446 | 1,012 | 1,012 | — | — | — | |||||||||||||||||||||||
Equipment | Jan-33 | 1,557 | 287 | 621 | 357 | 94 | 317 | 146 | ||||||||||||||||||||||
Construction in process | 3,595 | 1,741 | 873 | 631 | 238 | 166 | 307 | |||||||||||||||||||||||
Other | May-33 | 3,438 | 570 | 867 | 418 | 294 | 248 | 178 | ||||||||||||||||||||||
Total property, plant and equipment(a)(d) | 103,115 | 34,906 | 36,480 | 22,273 | 13,863 | 11,143 | 12,489 | |||||||||||||||||||||||
Total accumulated depreciation - regulated(b)(c)(d) | (31,659 | ) | (11,894 | ) | (13,098 | ) | (8,623 | ) | (4,252 | ) | (2,160 | ) | (3,913 | ) | ||||||||||||||||
Total accumulated depreciation - nonregulated(c)(d) | (1,966 | ) | — | — | — | — | (748 | ) | — | |||||||||||||||||||||
Total net property, plant and equipment | $ | 69,490 | $ | 23,012 | $ | 23,382 | $ | 13,650 | $ | 9,611 | $ | 8,235 | $ | 8,576 | ||||||||||||||||
(a) | Includes capitalized leases of $1,606 million, $53 million, $328 million, $148 million, $180 million, $96 million, and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $60 million, an insignificant amount and $57 million, respectively, of accumulated amortization of capitalized leases. | |||||||||||||||||||||||||||||
(b) | Includes $1,118 million, $681 million, $438 million and $438 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. | |||||||||||||||||||||||||||||
(c) | Includes accumulated amortization of capitalized leases of $40 million, $4 million, $21 million and $5 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. | |||||||||||||||||||||||||||||
(d) | Includes gross property, plant and equipment cost of consolidated VIEs of $1,678 million and accumulated depreciation of consolidated VIEs of $175 million at Duke Energy. | |||||||||||||||||||||||||||||
The following table presents capitalized interest, which includes the debt component of AFUDC. | ||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Duke Energy | $ | 75 | $ | 89 | $ | 176 | ||||||||||||||||||||||||
Duke Energy Carolinas | 38 | 41 | 72 | |||||||||||||||||||||||||||
Progress Energy | 11 | 19 | 41 | |||||||||||||||||||||||||||
Duke Energy Progress | 10 | 16 | 23 | |||||||||||||||||||||||||||
Duke Energy Florida | 1 | 3 | 18 | |||||||||||||||||||||||||||
Duke Energy Ohio | 10 | 11 | 13 | |||||||||||||||||||||||||||
Duke Energy Indiana | 6 | 9 | 39 | |||||||||||||||||||||||||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS | |||||||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||||||
The following tables present goodwill by reportable operating segment for Duke Energy and Duke Energy Ohio. | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Total | ||||||||||||||||||||||||
Balance at December 31, 2013 | ||||||||||||||||||||||||||||
Goodwill | $ | 15,950 | $ | 326 | $ | 935 | $ | 17,211 | ||||||||||||||||||||
Accumulated impairment charges | — | — | (871 | ) | (871 | ) | ||||||||||||||||||||||
Balance at December 31, 2013, net of accumulated impairment charges | 15,950 | 326 | 64 | 16,340 | ||||||||||||||||||||||||
Foreign exchange and other changes | — | (19 | ) | — | (19 | ) | ||||||||||||||||||||||
Balance at December 31, 2014 | ||||||||||||||||||||||||||||
Goodwill | 15,950 | 307 | 935 | 17,192 | ||||||||||||||||||||||||
Accumulated impairment charges | — | — | (871 | ) | (871 | ) | ||||||||||||||||||||||
Balance at December 31, 2014, net of accumulated impairment charges | $ | 15,950 | $ | 307 | $ | 64 | $ | 16,321 | ||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total | |||||||||||||||||||||||||
Balance at December 31, 2013 | ||||||||||||||||||||||||||||
Goodwill | $ | 1,136 | $ | 1,188 | $ | 2,324 | ||||||||||||||||||||||
Accumulated impairment charges | (216 | ) | (1,188 | ) | (1,404 | ) | ||||||||||||||||||||||
Balance at December 31, 2013, net of accumulated impairment charges | 920 | — | 920 | |||||||||||||||||||||||||
Balance at December 31, 2014 | ||||||||||||||||||||||||||||
Goodwill | 1,136 | 1,188 | 2,324 | |||||||||||||||||||||||||
Accumulated impairment charges | (216 | ) | (1,188 | ) | (1,404 | ) | ||||||||||||||||||||||
Balance at December 31, 2014, net of accumulated impairment charges | $ | 920 | $ | — | $ | 920 | ||||||||||||||||||||||
Progress Energy | ||||||||||||||||||||||||||||
Progress Energy's Goodwill is included in the Regulated Utilities operating segment and there are no accumulated impairment charges. | ||||||||||||||||||||||||||||
Impairment Testing | ||||||||||||||||||||||||||||
Duke Energy, Duke Energy Ohio and Progress Energy are required to perform an annual goodwill impairment test as of the same date each year and, accordingly, performs its annual impairment testing of goodwill as of August 31. Duke Energy, Duke Energy Ohio and Progress Energy update their test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As the fair value of Duke Energy, Duke Energy Ohio and Progress Energy’s reporting units exceeded their respective carrying values at the date of the annual impairment analysis, no impairment charges were recorded in 2014. | ||||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||||
The following tables show the carrying amount and accumulated amortization of intangible assets within Other on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2014 and 2013. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio (a) | Duke Energy Indiana | |||||||||||||||||||||
Emission allowances | $ | 23 | $ | 1 | $ | 7 | $ | 3 | $ | 4 | $ | — | $ | 16 | ||||||||||||||
Renewable energy certificates | 97 | 25 | 69 | 69 | — | 3 | — | |||||||||||||||||||||
Gas, coal and power contracts | 24 | — | — | — | — | — | 24 | |||||||||||||||||||||
Wind development rights | 97 | — | — | — | — | — | — | |||||||||||||||||||||
Other | 76 | — | — | — | — | — | — | |||||||||||||||||||||
Total gross carrying amounts | 317 | 26 | 76 | 72 | 4 | 3 | 40 | |||||||||||||||||||||
Accumulated amortization - gas, coal and power contracts | (15 | ) | — | — | — | — | — | (15 | ) | |||||||||||||||||||
Accumulated amortization - wind development rights | (14 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Accumulated amortization - other | (25 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Total accumulated amortization | (54 | ) | — | — | — | — | — | (15 | ) | |||||||||||||||||||
Total intangible assets, net | $ | 263 | $ | 26 | $ | 76 | $ | 72 | $ | 4 | $ | 3 | $ | 25 | ||||||||||||||
(a) | During 2014, Duke Energy Ohio reduced the carrying amount of OVEC to zero. A charge of $94 million is recorded in Impairment Charges on Duke Energy Ohio's Consolidated Statement of Operations. In addition, Duke Energy Ohio has emission allowances and renewable energy certificates that have been reclassified to Assets Held For Sale pending the sale of the Disposal Group. See Note 17 for further information. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Emission allowances | $ | 63 | $ | 1 | $ | 21 | $ | 3 | $ | 18 | $ | 20 | $ | 21 | ||||||||||||||
Renewable energy certificates | 82 | 16 | 64 | 64 | — | 2 | — | |||||||||||||||||||||
Gas, coal and power contracts | 180 | — | — | — | — | 156 | 24 | |||||||||||||||||||||
Wind development rights | 86 | — | — | — | — | — | — | |||||||||||||||||||||
Other | 76 | — | — | — | — | — | — | |||||||||||||||||||||
Total gross carrying amounts | 487 | 17 | 85 | 67 | 18 | 178 | 45 | |||||||||||||||||||||
Accumulated amortization - gas, coal and power contracts | (73 | ) | — | — | — | — | (60 | ) | (13 | ) | ||||||||||||||||||
Accumulated amortization - wind development rights | (12 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Accumulated amortization - other | (24 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Total accumulated amortization | (109 | ) | — | — | — | — | (60 | ) | (13 | ) | ||||||||||||||||||
Total intangible assets, net | $ | 378 | $ | 17 | $ | 85 | $ | 67 | $ | 18 | $ | 118 | $ | 32 | ||||||||||||||
Amortization Expense | ||||||||||||||||||||||||||||
The following table presents amortization expense for gas, coal and power contracts, wind development rights and other intangible assets. | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Duke Energy | $ | 6 | $ | 13 | $ | 14 | ||||||||||||||||||||||
Duke Energy Ohio | 2 | 8 | 12 | |||||||||||||||||||||||||
Duke Energy Indiana | 1 | 1 | 1 | |||||||||||||||||||||||||
The table below shows the expected amortization expense for the next five years for intangible assets as of December 31, 2014. The expected amortization expense includes estimates of emission allowances consumption and estimates of consumption of commodities such as gas and coal under existing contracts, as well as estimated amortization related to the wind development projects. The amortization amounts discussed below are estimates and actual amounts may differ from these estimates due to such factors as changes in consumption patterns, sales or impairments of emission allowances or other intangible assets, delays in the in-service dates of wind assets, additional intangible acquisitions and other events. | ||||||||||||||||||||||||||||
(in millions) | 2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||||||||
Duke Energy | $ | 11 | $ | 8 | $ | 7 | $ | 7 | $ | 7 | ||||||||||||||||||
Duke Energy Ohio | 2 | 1 | 1 | 1 | 1 | |||||||||||||||||||||||
Duke Energy Indiana | 5 | 3 | 2 | 2 | 2 | |||||||||||||||||||||||
Investments_in_Unconsolidated_
Investments in Unconsolidated Affiliates | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||
Investment in Unconsolidated Affiliates | INVESTMENTS IN UNCONSOLIDATED AFFILIATES | |||||||||||||||||||
EQUITY METHOD INVESTMENTS | ||||||||||||||||||||
Investments in domestic and international affiliates that are not controlled by Duke Energy, but over which it has significant influence, are accounted for using the equity method. As of December 31, 2014 and 2013, the carrying amount of investments in affiliates with carrying amounts greater than zero approximated the amount of underlying equity in net assets. | ||||||||||||||||||||
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, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(in millions) | Investments | Equity in earnings | Investments | Equity in earnings | Equity in earnings | |||||||||||||||
Regulated Utilities | $ | 3 | $ | (3 | ) | $ | 4 | $ | (1 | ) | $ | (5 | ) | |||||||
International Energy | 69 | 120 | 82 | 110 | 134 | |||||||||||||||
Commercial Power | 258 | 10 | 252 | 7 | 14 | |||||||||||||||
Other | 28 | 3 | 52 | 6 | 5 | |||||||||||||||
Total | $ | 358 | $ | 130 | $ | 390 | $ | 122 | $ | 148 | ||||||||||
During the years ended December 31, 2014, 2013 and 2012, Duke Energy received distributions from equity investments of $154 million, $144 million and $183 million, respectively, which are included in Other assets within Cash Flows from Operating Activities on the Consolidated Statements of Cash Flows. | ||||||||||||||||||||
Significant investments in affiliates accounted for under the equity method are discussed below. | ||||||||||||||||||||
International Energy | ||||||||||||||||||||
Duke Energy owns a 25 percent indirect interest in NMC, which owns and operates a methanol and MTBE business in Jubail, Saudi Arabia. | ||||||||||||||||||||
Commercial Power | ||||||||||||||||||||
Investments accounted for under the equity method primarily consist of Duke Energy’s approximate 50 percent ownership interest in the five Catamount Sweetwater, LLC wind farm projects (Phase I-V), INDU Solar Holdings, LLC and DS Cornerstone, LLC. All of these entities own solar or wind power projects in the United States. Duke Energy also owns a 50 percent interest in Duke American Transmission Co., LLC, which builds, owns and operates electric transmission facilities in North America. | ||||||||||||||||||||
Other | ||||||||||||||||||||
On December 31, 2013, Duke Energy completed the sale of its 50 percent ownership interest in DukeNet, which owned and operated telecommunications businesses, to Time Warner Cable, Inc. After retiring existing DukeNet debt and payment of transaction expenses, Duke Energy received $215 million in cash proceeds and recorded a $105 million pretax gain in the fourth quarter of 2013. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Related Party Transactions [Abstract] | ||||||||||||
Related Party Transactions | RELATED PARTY TRANSACTIONS | |||||||||||
The Subsidiary Registrants engage in related party transactions, which are generally performed at cost and 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) | 2014 | 2013 | 2012 | |||||||||
Duke Energy Carolinas | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 851 | $ | 927 | $ | 1,112 | ||||||
Indemnification coverages(b) | 21 | 22 | 21 | |||||||||
JDA revenue(c) | 133 | 121 | 18 | |||||||||
JDA expense(c) | 198 | 116 | 91 | |||||||||
Progress Energy | ||||||||||||
Corporate governance and shared services provided by Duke Energy(a) | $ | 732 | $ | 290 | $ | 63 | ||||||
Corporate governance and shared services provided to Duke Energy(d) | — | 96 | 47 | |||||||||
Indemnification coverages(b) | 33 | 34 | 17 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Progress | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 386 | $ | 266 | $ | 254 | ||||||
Indemnification coverages(b) | 17 | 20 | 8 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Florida | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 346 | $ | 182 | $ | 186 | ||||||
Indemnification coverages(b) | 16 | 14 | 8 | |||||||||
Duke Energy Ohio | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 316 | $ | 347 | $ | 358 | ||||||
Indemnification coverages(b) | 13 | 15 | 15 | |||||||||
Duke Energy Indiana | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 384 | $ | 422 | $ | 419 | ||||||
Indemnification coverages(b) | 11 | 14 | 8 | |||||||||
(a) | The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(b) | The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(c) | Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(d) | In 2013 and 2012, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. | |||||||||||
In addition to the amounts presented above, the Subsidiary Registrants record the impact on net income of other affiliate transactions, including rental of office space, participation in a money pool arrangement, other operational transactions and their proportionate share of certain charged expenses. See Note 6 for more information regarding money pool. The net impact of these transactions was not material for the years ended December 31, 2014, 2013 and 2012 for the Subsidiary Registrants. | ||||||||||||
As discussed in Note 17, certain trade receivables have been sold by Duke Energy Ohio and Duke Energy Indiana to CRC, an affiliate formed by a subsidiary of Duke Energy. The proceeds obtained from the sales of receivables are largely cash but do include a subordinated note from CRC for a portion of the purchase price. | ||||||||||||
In January 2012, Duke Energy Ohio recorded a non-cash equity transfer of $28 million related to the sale of Vermillion to Duke Energy Indiana. Duke Energy Indiana recorded a non-cash after-tax equity transfer of $26 million for the purchase of Vermillion from Duke Energy Ohio. See Note 2 for further discussion. | ||||||||||||
Duke Energy Commercial Asset Management (DECAM) is a nonregulated, indirect subsidiary of Duke Energy Ohio that owns generating plants included in the Disposal Group discussed in Note 2. DECAM's business activities include the execution of commodity transactions, third-party vendor and supply contracts, and service contracts for certain of Duke Energy’s nonregulated entities. The commodity contracts DECAM enters are accounted for as undesignated contracts or NPNS. Consequently, mark-to-market impacts of intercompany contracts with, and sales of power to, nonregulated entities are included in (Loss) Income from discontinued operations in Duke Energy Ohio’s Consolidated Statements of Operations and Comprehensive Income. These amounts totaled net expense of $24 million and $6 million and net revenue of $24 million, for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||
Because it is not a rated entity, DECAM receives credit support from Duke Energy or its nonregulated subsidiaries, not from the regulated utility operations of Duke Energy Ohio. DECAM meets its funding needs through an intercompany loan agreement from a subsidiary of Duke Energy. DECAM also has the ability to loan money to the subsidiary of Duke Energy. DECAM had an outstanding intercompany loan payable of $459 million and $43 million for the years ended December 31, 2014 and 2013, respectively, These amounts are recorded in Notes payable to affiliated companies on Duke Energy Ohio’s Consolidated Balance Sheets. | ||||||||||||
As discussed in Note 6, in April 2014, Duke Energy issued $1 billion of senior unsecured notes. Proceeds from the issuances of approximately $400 million were loaned to DECAM, and such funds were ultimately used to redeem $402 million of tax-exempt bonds at Duke Energy Ohio. This transaction substantially completed the restructuring of Duke Energy Ohio’s capital structure to reflect appropriate debt and equity ratios for its regulated operations. The restructuring was completed in the second quarter of 2014, and resulted in the transfer of all of Duke Energy Ohio’s nonregulated generation assets, excluding Beckjord, out of its regulated public utility subsidiary and into DECAM. |
Derivatives_and_Hedging
Derivatives and Hedging | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
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 and interest rate risks. The primary use of energy commodity derivatives is to hedge the generation portfolio against changes in the prices of electricity and natural gas. Interest rate swaps are used to manage interest rate risk associated with borrowings. | ||||||||||||||||||||||||
All derivative instruments not identified as 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 agreement is offset against the collateralized derivatives on the balance sheet. | ||||||||||||||||||||||||
Changes in the fair value of derivative agreements that either do not qualify for or have not been designated as hedges are reflected in current earnings or as regulatory assets or liabilities. | ||||||||||||||||||||||||
COMMODITY PRICE RISK | ||||||||||||||||||||||||
The Duke Energy Registrants are exposed to the impact of changes in the future prices of electricity, coal and natural gas. Exposure to commodity price risk is influenced by a number of factors including the term of contracts, the liquidity of markets, and delivery locations. | ||||||||||||||||||||||||
Fair Value and Cash Flow Hedges | ||||||||||||||||||||||||
At December 31, 2014, there were no open commodity derivative instruments designated as hedges. | ||||||||||||||||||||||||
Undesignated Contracts | ||||||||||||||||||||||||
Undesignated contracts may include contracts not designated as a hedge, contracts that do not qualify for hedge accounting, derivatives that do not or no longer qualify for the NPNS scope exception, and de-designated hedge contracts. These contracts expire as late as 2018. | ||||||||||||||||||||||||
Duke Energy Carolinas’ undesignated contracts are primarily associated with forward sales and purchases of electricity. Duke Energy Progress’ and Duke Energy Florida’s undesignated contracts are primarily associated with forward purchases of natural gas. Duke Energy Ohio’s undesignated contracts are primarily associated with forward sales and purchases of electricity, coal, and natural gas. Duke Energy Indiana’s undesignated contracts are primarily associated with forward purchases and sales of electricity and financial transmission rights. | ||||||||||||||||||||||||
Volumes | ||||||||||||||||||||||||
The tables below show information relating to volumes of outstanding commodity derivatives. Amounts disclosed represent the notional volumes of commodity contracts excluding NPNS. Amounts disclosed represent the absolute value of notional amounts. 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, 2014 | ||||||||||||||||||||||||
Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||
Electricity (gigawatt-hours)(a) | 25,370 | — | — | — | — | 19,141 | — | |||||||||||||||||
Natural gas (millions of decatherms) | 676 | 35 | 328 | 116 | 212 | 313 | — | |||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||
Electricity (gigawatt-hours)(a) | 71,466 | 1,205 | 925 | 925 | — | 69,362 | 203 | |||||||||||||||||
Natural gas (millions of decatherms) | 636 | — | 363 | 141 | 222 | 274 | — | |||||||||||||||||
(a) | Amounts at Duke Energy Ohio include intercompany positions that eliminate at Duke Energy. | |||||||||||||||||||||||
INTEREST RATE RISK | ||||||||||||||||||||||||
The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements, and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward starting interest rate swaps may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt. Pretax gains or losses recognized from inception to termination of the hedges are amortized as a component of interest expense over the life of the debt. | ||||||||||||||||||||||||
Duke Energy has a combination foreign exchange, pay fixed-receive floating interest rate swap to fix the U.S. dollar equivalent payments on a floating-rate Chilean debt issue. | ||||||||||||||||||||||||
The following tables show notional amounts for derivatives related to interest rate risk. | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Duke | Duke | Duke | Duke | Duke | |||||||||||||||||||
Energy | Energy Florida | Energy | Energy | Energy | ||||||||||||||||||||
Ohio | Ohio | |||||||||||||||||||||||
Cash flow hedges(a) | $ | 750 | $ | — | $ | — | $ | 798 | $ | — | ||||||||||||||
Undesignated contracts | 277 | 250 | 27 | 34 | 27 | |||||||||||||||||||
Total notional amount | $ | 1,027 | 250 | $ | 27 | $ | 832 | $ | 27 | |||||||||||||||
(a) | Duke Energy includes amounts related to consolidated VIEs of $541 million at December 31, 2014 and $584 million at December 31, 2013. | |||||||||||||||||||||||
DUKE ENERGY | ||||||||||||||||||||||||
The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | — | $ | — | $ | 1 | ||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Investments and other assets: other | 10 | — | 27 | — | ||||||||||||||||||||
Current liabilities: other | — | 13 | — | 18 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 29 | — | 4 | ||||||||||||||||||||
Total Derivatives Designated as Hedging Instruments | $ | 10 | $ | 42 | $ | 27 | $ | 23 | ||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | 18 | $ | — | $ | 201 | $ | 158 | ||||||||||||||||
Current assets: assets held for sale | 15 | — | — | — | ||||||||||||||||||||
Investments and other assets: other | 3 | — | 215 | 131 | ||||||||||||||||||||
Investments and other assets: assets held for sale | 15 | — | — | — | ||||||||||||||||||||
Current liabilities: other | 1 | 307 | 13 | 153 | ||||||||||||||||||||
Current liabilities: assets held for sale | 174 | 253 | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | 2 | 91 | 5 | 166 | ||||||||||||||||||||
Deferred credits and other liabilities: assets held for sale | 111 | 208 | — | — | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current assets: other | 2 | — | — | — | ||||||||||||||||||||
Current liabilities: other | — | 1 | — | 1 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 7 | — | 4 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 341 | 867 | 434 | 613 | ||||||||||||||||||||
Total Derivatives | $ | 351 | $ | 909 | $ | 461 | $ | 636 | ||||||||||||||||
The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(e) | Non-Current(f) | ||||||||||||||||||||
Gross amounts recognized | $ | 210 | $ | 136 | $ | 214 | $ | 233 | ||||||||||||||||
Gross amounts offset | (153 | ) | (88 | ) | (179 | ) | (138 | ) | ||||||||||||||||
Net amount subject to master netting | 57 | 48 | 35 | 95 | ||||||||||||||||||||
Amounts not subject to master netting | — | 5 | — | 14 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 57 | $ | 53 | $ | 35 | $ | 109 | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(g) | Non-Current(h) | ||||||||||||||||||||
Gross amounts recognized | $ | 573 | $ | 319 | $ | 322 | $ | 299 | ||||||||||||||||
Gross amounts offset | (213 | ) | (173 | ) | (192 | ) | (155 | ) | ||||||||||||||||
Net amounts subject to master netting | 360 | 146 | 130 | 144 | ||||||||||||||||||||
Amounts not subject to master netting | 1 | 16 | 4 | 11 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 361 | $ | 162 | $ | 134 | $ | 155 | ||||||||||||||||
(a) Included in Other and Assets Held for Sale within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other and Assets held for Sale within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other and Liabilities Associated with Assets Held for Sale within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other and Liabilities Associated with Assets Held for Sale within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(e) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(f) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(g) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(h) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
The following table shows the gains and losses recognized on cash flow hedges and the line items on the Consolidated Statements of Operations where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Interest rate contracts | $ | (39 | ) | $ | 79 | $ | (23 | ) | ||||||||||||||||
Commodity contracts | — | 1 | 1 | |||||||||||||||||||||
Total Pretax Gains (Losses) Recorded in AOCI | $ | (39 | ) | $ | 80 | $ | (22 | ) | ||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (7 | ) | (2 | ) | 2 | |||||||||||||||||||
There was no hedge ineffectiveness during the years ended December 31, 2014, 2013 and 2012, and no gains or losses were excluded from the assessment of hedge effectiveness during the same periods. | ||||||||||||||||||||||||
A $10 million pretax gain is expected to be recognized in earnings during the next 12 months as interest expense. | ||||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Revenue: Regulated electric | $ | — | $ | 11 | $ | (23 | ) | |||||||||||||||||
Other income and expenses | — | — | (2 | ) | ||||||||||||||||||||
Fuel used in electric generation and purchased power-regulated | (44 | ) | (200 | ) | (194 | ) | ||||||||||||||||||
Income (Loss) From Discontinued Operations | (729 | ) | (57 | ) | 40 | |||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (6 | ) | (18 | ) | (8 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (779 | ) | $ | (264 | ) | $ | (187 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (268 | ) | $ | 10 | $ | (2 | ) | ||||||||||||||||
Regulatory liabilities | 14 | 15 | 36 | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | 55 | 10 | |||||||||||||||||||||
Regulatory liabilities | 2 | — | — | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (252 | ) | $ | 80 | $ | 44 | |||||||||||||||||
DUKE ENERGY CAROLINAS | ||||||||||||||||||||||||
The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | 14 | $ | — | $ | 1 | ||||||||||||||||
Deferred credits and other liabilities: other | — | 5 | — | 1 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | — | 19 | — | 2 | ||||||||||||||||||||
Total Derivatives | $ | — | $ | 19 | $ | — | $ | 2 | ||||||||||||||||
The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Gross amounts offset | — | — | — | — | ||||||||||||||||||||
Net amount subject to master netting | — | — | — | — | ||||||||||||||||||||
Amounts not subject to master netting | — | — | — | — | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 14 | $ | 5 | $ | — | $ | — | ||||||||||||||||
Gross amounts offset | — | — | — | — | ||||||||||||||||||||
Net amount subject to master netting | 14 | 5 | — | — | ||||||||||||||||||||
Amounts not subject to master netting | — | — | 1 | 1 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 14 | $ | 5 | $ | 1 | $ | 1 | ||||||||||||||||
(a) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | $ | (3 | ) | $ | (3 | ) | $ | (3 | ) | |||||||||||||||
A $3 million pretax gain is expected to be recognized in earnings during the next 12 months as interest expense. | ||||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts not included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Revenue: Regulated electric | $ | — | $ | (12 | ) | $ | (12 | ) | ||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | — | (12 | ) | (12 | ) | |||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (19 | ) | $ | — | $ | — | |||||||||||||||||
PROGRESS ENERGY | ||||||||||||||||||||||||
The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | 1 | $ | — | $ | 1 | ||||||||||||||||
Deferred credits and other liabilities: other | — | — | — | 4 | ||||||||||||||||||||
Total Derivatives Designated as Hedging Instruments | $ | — | $ | 1 | $ | — | $ | 5 | ||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | — | $ | — | $ | 3 | $ | 2 | ||||||||||||||||
Investments and other assets: other | — | — | 2 | 1 | ||||||||||||||||||||
Current liabilities: other | — | 288 | 11 | 105 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 80 | 4 | 91 | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current assets: other | 2 | — | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 2 | — | — | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 2 | 370 | 20 | 199 | ||||||||||||||||||||
Total Derivatives | $ | 2 | $ | 371 | $ | 20 | $ | 204 | ||||||||||||||||
The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | 2 | $ | — | $ | 15 | $ | 5 | ||||||||||||||||
Gross amounts offset | (2 | ) | — | (13 | ) | (4 | ) | |||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | 2 | $ | 1 | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 289 | $ | 82 | $ | 107 | $ | 93 | ||||||||||||||||
Gross amounts offset | (17 | ) | (8 | ) | (17 | ) | (10 | ) | ||||||||||||||||
Net amounts subject to master netting | 272 | 74 | 90 | 83 | ||||||||||||||||||||
Amounts not subject to master netting | — | — | — | 4 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 272 | $ | 74 | $ | 90 | $ | 87 | ||||||||||||||||
(a) Included in Other within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income or Consolidated Balance Sheet where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Commodity contracts | $ | — | $ | 1 | $ | 1 | ||||||||||||||||||
Interest rate contracts | — | — | (11 | ) | ||||||||||||||||||||
Total Pretax Gains (Losses) Recorded in AOCI | $ | — | $ | 1 | $ | (10 | ) | |||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (13 | ) | — | (14 | ) | |||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI to Regulatory Assets or Liabilities(a) | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | $ | — | (159 | ) | |||||||||||||||||||
(a) Effective with the merger, Duke Energy Progress and Duke Energy Florida no longer designates interest rate derivatives for | ||||||||||||||||||||||||
regulated operations as cash flow hedges. As a result, the pretax losses on derivatives as of the date of the merger were reclassified from AOCI to regulatory assets. | ||||||||||||||||||||||||
There was no hedge ineffectiveness during the years ended December 31, 2014, 2013 and 2012, and no gains or losses have been excluded from the assessment of hedge effectiveness during the same periods. | ||||||||||||||||||||||||
A $13 million pretax loss is expected to be recognized in earnings during the next 12 months as interest expense. | ||||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Operating revenues | $ | — | $ | 11 | $ | (11 | ) | |||||||||||||||||
Fuel used in electric generation and purchased power | (44 | ) | (200 | ) | (454 | ) | ||||||||||||||||||
Other income and expenses, net | — | — | 7 | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (4 | ) | (17 | ) | (8 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (48 | ) | $ | (206 | ) | $ | (466 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (233 | ) | $ | 10 | $ | (171 | ) | ||||||||||||||||
Regulatory liabilities | 2 | — | — | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | 2 | 18 | 6 | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (229 | ) | $ | 28 | $ | (165 | ) | ||||||||||||||||
DUKE ENERGY PROGRESS | ||||||||||||||||||||||||
The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. Substantially all derivatives not designated as hedging instruments receive regulatory accounting treatment. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | 1 | $ | — | $ | 1 | ||||||||||||||||
Total Derivatives Designated as Hedging Instruments | — | 1 | — | 1 | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Investments and other assets: other | $ | — | $ | — | $ | 2 | $ | 1 | ||||||||||||||||
Current liabilities: other | — | 108 | 2 | 40 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 23 | 2 | 29 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | — | 131 | 6 | 70 | ||||||||||||||||||||
Total Derivatives | $ | — | $ | 132 | $ | 6 | $ | 71 | ||||||||||||||||
The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | — | $ | — | $ | 3 | $ | 3 | ||||||||||||||||
Gross amounts offset | — | — | (3 | ) | (3 | ) | ||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 109 | $ | 23 | $ | 41 | $ | 30 | ||||||||||||||||
Gross amounts offset | — | — | (3 | ) | (3 | ) | ||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 109 | $ | 23 | $ | 38 | $ | 27 | ||||||||||||||||
(a) Included in Other within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income or Consolidated Balance Sheets in which such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | — | $ | (7 | ) | |||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | — | — | (5 | ) | ||||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI to Regulatory Assets or Liabilities(a) | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | $ | — | (117 | ) | |||||||||||||||||||
(a) | Effective with the merger, Duke Energy Progress no longer designates interest rate derivatives for regulated operations as cash flow hedges. As a result, the pretax losses on derivatives as of the date of the merger were reclassified from AOCI to Regulatory assets. | |||||||||||||||||||||||
There was no hedge ineffectiveness during the years ended December 31, 2014, 2013 and 2012, and no gains or losses have been excluded from the assessment of hedge effectiveness during the same periods. | ||||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Operating revenues | $ | — | $ | 11 | $ | (11 | ) | |||||||||||||||||
Fuel used in electric generation and purchased power | (15 | ) | (71 | ) | (115 | ) | ||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | — | (13 | ) | (6 | ) | |||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (15 | ) | $ | (73 | ) | $ | (132 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (82 | ) | $ | (6 | ) | $ | (55 | ) | |||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | 13 | 6 | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (82 | ) | $ | 7 | $ | (49 | ) | ||||||||||||||||
DUKE ENERGY FLORIDA | ||||||||||||||||||||||||
The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | — | $ | — | $ | 3 | $ | 2 | ||||||||||||||||
Current liabilities: other | — | 180 | 9 | 64 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 57 | 2 | 63 | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current assets: other | 2 | — | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 2 | — | — | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 2 | 239 | 14 | 129 | ||||||||||||||||||||
Total Derivatives | $ | 2 | $ | 239 | $ | 14 | $ | 129 | ||||||||||||||||
The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | 2 | $ | — | $ | 12 | $ | 2 | ||||||||||||||||
Gross amounts offset | (2 | ) | — | (10 | ) | (2 | ) | |||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | 2 | $ | — | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 180 | $ | 59 | $ | 66 | $ | 63 | ||||||||||||||||
Gross amounts offset | (17 | ) | (8 | ) | (15 | ) | (7 | ) | ||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 163 | $ | 51 | $ | 51 | $ | 56 | ||||||||||||||||
(a) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income or Consolidated Balance Sheets in which such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Commodity contracts | $ | — | $ | 1 | $ | 1 | ||||||||||||||||||
Interest rate contracts | — | — | (2 | ) | ||||||||||||||||||||
Total Pretax Gains (Losses) Recorded in AOCI | $ | — | $ | 1 | $ | (1 | ) | |||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (2 | ) | — | (2 | ) | |||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI to Regulatory Assets(a) | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | $ | — | (42 | ) | |||||||||||||||||||
(a) | Effective with the merger, Duke Energy Florida no longer designates interest rate derivatives for regulated operations as cash flow hedges. As a result, the pretax losses on derivatives as of the date of the merger were reclassified from AOCI to Regulatory assets. | |||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Fuel used in electric generation and purchased power | $ | (29 | ) | $ | (129 | ) | $ | (339 | ) | |||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (4 | ) | (5 | ) | (2 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (33 | ) | $ | (134 | ) | $ | (341 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (151 | ) | $ | 16 | $ | (116 | ) | ||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | 2 | 5 | — | |||||||||||||||||||||
Regulatory liabilities | 2 | — | — | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (147 | ) | $ | 21 | $ | (116 | ) | ||||||||||||||||
DUKE ENERGY OHIO | ||||||||||||||||||||||||
The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | 1 | $ | — | $ | 186 | $ | 163 | ||||||||||||||||
Current assets: assets held for sale | 28 | 4 | — | — | ||||||||||||||||||||
Investments and other assets: other | — | — | 202 | 130 | ||||||||||||||||||||
Investments and other assets: assets held for sale | 26 | 4 | — | — | ||||||||||||||||||||
Current liabilities: other | — | — | 1 | 36 | ||||||||||||||||||||
Current liabilities: assets held for sale | 175 | 252 | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | — | 2 | 56 | ||||||||||||||||||||
Deferred credits and other liabilities: assets held for sale | 111 | 207 | — | — | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current liabilities: other | — | 1 | — | 1 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 5 | — | 4 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 341 | 473 | 391 | 390 | ||||||||||||||||||||
Total Derivatives | $ | 341 | $ | 473 | $ | 391 | $ | 390 | ||||||||||||||||
The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(e) | Non-Current(f) | ||||||||||||||||||||
Gross amounts recognized | $ | 204 | $ | 137 | $ | 186 | $ | 205 | ||||||||||||||||
Gross amounts offset | (179 | ) | (114 | ) | (165 | ) | (132 | ) | ||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 25 | $ | 23 | $ | 21 | $ | 73 | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(g) | Non-Current(h) | ||||||||||||||||||||
Gross amounts recognized | $ | 257 | $ | 216 | $ | 199 | $ | 186 | ||||||||||||||||
Gross amounts offset | (222 | ) | (193 | ) | (173 | ) | (143 | ) | ||||||||||||||||
Net amounts subject to master netting | 35 | 23 | 26 | 43 | ||||||||||||||||||||
Amounts not subject to master netting | — | — | 1 | 4 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 35 | $ | 23 | $ | 27 | $ | 47 | ||||||||||||||||
(a) Included in Other and Assets Held for Sale within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other and Assets held for Sale within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other and Liabilities Associated with Assets Held for Sale within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other and Liabilities Associated with Assets Held for Sale within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(e) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(f) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(g) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(h) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Income (Loss) from discontinued operations | (758 | ) | (56 | ) | 78 | |||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (1 | ) | (1 | ) | (1 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (759 | ) | $ | (57 | ) | $ | 77 | ||||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | 1 | $ | — | $ | 2 | ||||||||||||||||||
Regulatory liabilities | 5 | — | (1 | ) | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | (2 | ) | 4 | — | ||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | 4 | $ | 4 | $ | 1 | ||||||||||||||||||
DUKE ENERGY INDIANA | ||||||||||||||||||||||||
The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current Assets: Other | $ | 14 | $ | — | $ | 12 | $ | — | ||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 14 | — | 12 | — | ||||||||||||||||||||
Total Derivatives | $ | 14 | $ | — | $ | 12 | $ | — | ||||||||||||||||
The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | 14 | $ | — | $ | 12 | $ | — | ||||||||||||||||
Gross amounts offset | — | — | (1 | ) | — | |||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 14 | $ | — | $ | 11 | $ | — | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Gross amounts offset | — | — | — | — | ||||||||||||||||||||
Net amount subject to master netting | — | — | — | — | ||||||||||||||||||||
Amounts not subject to master netting | — | — | — | — | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
(a) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | $ | — | $ | 3 | $ | 3 | ||||||||||||||||||
The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Revenue: Regulated electric | $ | — | $ | 1 | $ | — | ||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (16 | ) | $ | — | $ | 2 | |||||||||||||||||
Regulatory liabilities | 9 | 16 | 35 | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | 34 | 4 | |||||||||||||||||||||
Regulatory liabilities | — | — | — | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (7 | ) | $ | 50 | $ | 41 | |||||||||||||||||
CREDIT RISK | ||||||||||||||||||||||||
Certain derivative contracts contain contingent credit features. These features may include (i) material adverse change clauses or payment acceleration clauses that could result in immediate payments or (ii) the posting of letters of credit or termination of the derivative contract before maturity 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, 2014 | ||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | ||||||||||||||||||
Aggregate fair value amounts of derivative instruments in a net liability position | $ | 845 | $ | 19 | $ | 370 | $ | 131 | $ | 239 | $ | 456 | ||||||||||||
Fair value of collateral already posted | 209 | — | 23 | — | 23 | 186 | ||||||||||||||||||
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 407 | 19 | 347 | 131 | 216 | 41 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
(in millions) | Duke Energy | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | |||||||||||||||||||
Aggregate fair value amounts of derivative instruments in a net liability position | $ | 525 | $ | 168 | $ | 60 | $ | 108 | $ | 355 | ||||||||||||||
Fair value of collateral already posted | 135 | 10 | — | 10 | 125 | |||||||||||||||||||
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 205 | 158 | 60 | 98 | 47 | |||||||||||||||||||
The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative must be executed with the same counterparty under the same master netting agreement. Amounts disclosed below represent the receivables related to the right to reclaim cash collateral and payables related to the obligation to return cash collateral under master netting arrangements. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Receivables | Payables | Receivables | Payables | ||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||
Amounts offset against net derivative positions | $ | 145 | $ | — | $ | 30 | $ | — | ||||||||||||||||
Amounts not offset against net derivative positions | 64 | — | 122 | — | ||||||||||||||||||||
Progress Energy | ||||||||||||||||||||||||
Amounts offset against net derivative positions | 23 | — | 10 | — | ||||||||||||||||||||
Duke Energy Florida | ||||||||||||||||||||||||
Amounts offset against net derivative positions | 23 | — | 10 | — | ||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||
Amounts offset against net derivative positions | 122 | — | 19 | — | ||||||||||||||||||||
Amounts not offset against net derivative positions | 64 | — | 115 | — | ||||||||||||||||||||
Duke Energy Indiana | ||||||||||||||||||||||||
Amounts offset against net derivative positions | — | — | — | 1 | ||||||||||||||||||||
Amounts not offset against net derivative positions | — | — | 1 | — | ||||||||||||||||||||
Investments_in_Debt_and_Equity
Investments in Debt and Equity Securities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Investments in Debt and Equity Securities | INVESTMENTS IN DEBT AND EQUITY SECURITIES | |||||||||||||||||||||||
The Duke Energy Registrants classify their investments in debt and equity securities as either trading or available-for-sale. | ||||||||||||||||||||||||
TRADING SECURITIES | ||||||||||||||||||||||||
Investments in debt and equity securities held in grantor trusts associated with certain deferred compensation plans and certain other investments are classified as trading securities. The fair value of these investments was $7 million as of December 31, 2014 and $18 million as of December 31, 2013. | ||||||||||||||||||||||||
AVAILABLE-FOR-SALE SECURITIES | ||||||||||||||||||||||||
All other investments in debt and equity securities are classified as available-for-sale securities. | ||||||||||||||||||||||||
Duke Energy’s available-for-sale securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) grantor trusts at Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans, (iii) Duke Energy’s captive insurance investment portfolio, and (iv) Duke Energy’s foreign operations investment portfolio. | ||||||||||||||||||||||||
Duke Energy holds corporate debt securities that were purchased using excess cash from its foreign operations. These investments are either classified as Cash and cash equivalents or Short-term investments on the Consolidated Balance Sheets based on maturity date and are available for current operations of Duke Energy’s foreign business. The fair value of these investments classified as Short-term investments was $44 million as of December 31, 2013. | ||||||||||||||||||||||||
Duke Energy classifies all other investments in debt and equity securities as long-term, unless otherwise noted. | ||||||||||||||||||||||||
Investment Trusts | ||||||||||||||||||||||||
The investments within the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida and the Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana grantor trusts (Investment Trusts) are managed by independent investment managers with discretion to buy, sell, and invest pursuant to the objectives set forth by the trust agreements. The Duke Energy Registrants have limited oversight of the day-to-day management of these investments. As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt and equity securities within the Investment Trusts are considered other-than-temporary impairments and are recognized immediately. Pursuant to regulatory accounting, realized and unrealized gains and losses associated with investments within the Investment Trusts are deferred as a regulatory asset or liability. As a result, there is no immediate impact on earnings of the Duke Energy Registrants. | ||||||||||||||||||||||||
Other Available-for-Sale Securities | ||||||||||||||||||||||||
Unrealized gains and losses on all other available-for-sale securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment is other-than-temporarily impaired. If an other-than-temporary impairment exists, the unrealized loss is included in earnings based on the criteria discussed below. | ||||||||||||||||||||||||
The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value should be considered other-than-temporary. Criteria used to evaluate whether an impairment associated with equity securities is other-than-temporary includes, but is not limited to, (i) the length of time over which the market value has been lower than the cost basis of the investment, (ii) the percentage decline compared to the cost of the investment, and (iii) management’s intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value. If a decline in fair value is determined to be other-than-temporary, the investment is written down to its fair value through a charge to earnings. | ||||||||||||||||||||||||
If the entity does not have an intent to sell a debt security and it is not more likely than not management will be required to sell the debt security before the recovery of its cost basis, the impairment write-down to fair value would be recorded as a component of other comprehensive income, except for when it is determined a credit loss exists. In determining whether a credit loss exists, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than the amortized cost basis, (ii) changes in the financial condition of the issuer of the security, or in the case of an asset backed security, the financial condition of the underlying loan obligors, (iii) consideration of underlying collateral and guarantees of amounts by government entities, (iv) ability of the issuer of the security to make scheduled interest or principal payments, and (v) any changes to the rating of the security by rating agencies. If a credit loss exists, the amount of impairment write-down to fair value is split between credit loss and other factors. The amount related to credit loss is recognized in earnings. The amount related to other factors is recognized in other comprehensive income. There were no credit losses as of December 31, 2014 and 2013. There were no other-than-temporary impairments for debt or equity securities as of December 31, 2014 and 2013. | ||||||||||||||||||||||||
DUKE ENERGY | ||||||||||||||||||||||||
The following table presents the estimated fair value of investments in available-for-sale securities. | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 136 | $ | — | $ | — | $ | 110 | ||||||||||||
Equity securities | 1,926 | 29 | 3,650 | 1,813 | 10 | 3,579 | ||||||||||||||||||
Corporate debt securities | 14 | 2 | 454 | 8 | 6 | 400 | ||||||||||||||||||
Municipal bonds | 5 | — | 184 | 2 | 6 | 160 | ||||||||||||||||||
U.S. government bonds | 19 | 2 | 978 | 7 | 12 | 730 | ||||||||||||||||||
Other debt securities | 1 | 2 | 147 | 22 | 2 | 154 | ||||||||||||||||||
Total NDTF | 1,965 | 35 | 5,549 | 1,852 | 36 | 5,133 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | 15 | — | — | 21 | ||||||||||||||||||
Equity securities | 34 | — | 96 | 29 | — | 91 | ||||||||||||||||||
Corporate debt securities | 1 | 1 | 58 | 1 | 1 | 99 | ||||||||||||||||||
Municipal bonds | 3 | 1 | 76 | 2 | 2 | 79 | ||||||||||||||||||
U.S. government bonds | — | — | 27 | — | — | 17 | ||||||||||||||||||
Other debt securities | 1 | 1 | 80 | — | 8 | 111 | ||||||||||||||||||
Total Other Investments(a) | 39 | 3 | 352 | 32 | 11 | 418 | ||||||||||||||||||
Total Investments | $ | 2,004 | $ | 38 | $ | 5,901 | $ | 1,884 | $ | 47 | $ | 5,551 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
The table below summarizes the maturity date for debt securities. | ||||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | 178 | |||||||||||||||||||||||
Due after one through five years | 571 | |||||||||||||||||||||||
Due after five through 10 years | 464 | |||||||||||||||||||||||
Due after 10 years | 791 | |||||||||||||||||||||||
Total | 2,004 | |||||||||||||||||||||||
Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 271 | $ | 209 | $ | 117 | ||||||||||||||||||
Realized losses | 105 | 65 | 19 | |||||||||||||||||||||
DUKE ENERGY CAROLINAS | ||||||||||||||||||||||||
The following table presents the estimated fair value of investments in available-for-sale securities. | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 51 | $ | — | $ | — | $ | 42 | ||||||||||||
Equity securities | 1,102 | 17 | 2,162 | 974 | 6 | 1,964 | ||||||||||||||||||
Corporate debt securities | 8 | 2 | 316 | 5 | 5 | 274 | ||||||||||||||||||
Municipal bonds | 1 | — | 62 | — | 2 | 54 | ||||||||||||||||||
U.S. government bonds | 7 | 1 | 308 | 3 | 7 | 354 | ||||||||||||||||||
Other debt securities | 1 | 2 | 133 | 22 | 2 | 146 | ||||||||||||||||||
Total NDTF | 1,119 | 22 | 3,032 | 1,004 | 22 | 2,834 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Other debt securities | — | 1 | 3 | — | 1 | 3 | ||||||||||||||||||
Total Other Investments(a) | — | 1 | 3 | — | 1 | 3 | ||||||||||||||||||
Total Investments | $ | 1,119 | $ | 23 | $ | 3,035 | $ | 1,004 | $ | 23 | $ | 2,837 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
The table below summarizes the maturity date for debt securities. | ||||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 1 | ||||||||||||||||||||||
Due after one through five years | 155 | |||||||||||||||||||||||
Due after five through 10 years | 257 | |||||||||||||||||||||||
Due after 10 years | 409 | |||||||||||||||||||||||
Total | $ | 822 | ||||||||||||||||||||||
Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 109 | $ | 115 | $ | 89 | ||||||||||||||||||
Realized losses | 93 | 12 | 6 | |||||||||||||||||||||
PROGRESS ENERGY | ||||||||||||||||||||||||
The following table presents the estimated fair value of investments in available-for-sale securities. | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 85 | $ | — | $ | — | $ | 68 | ||||||||||||
Equity securities | 824 | 12 | 1,488 | 839 | 4 | 1,615 | ||||||||||||||||||
Corporate debt securities | 6 | — | 138 | 3 | 1 | 126 | ||||||||||||||||||
Municipal bonds | 4 | — | 122 | 2 | 4 | 106 | ||||||||||||||||||
U.S. government bonds | 12 | 1 | 670 | 4 | 5 | 376 | ||||||||||||||||||
Other debt securities | — | — | 14 | — | — | 8 | ||||||||||||||||||
Total NDTF | 846 | 13 | 2,517 | 848 | 14 | 2,299 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | 15 | — | — | 20 | ||||||||||||||||||
Municipal bonds | 3 | — | 43 | 1 | — | 39 | ||||||||||||||||||
Total Other Investments(a) | 3 | — | 58 | 1 | — | 59 | ||||||||||||||||||
Total Investments | $ | 849 | $ | 13 | $ | 2,575 | $ | 849 | $ | 14 | $ | 2,358 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
The table below summarizes the maturity date for debt securities. | ||||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 161 | ||||||||||||||||||||||
Due after one through five years | 350 | |||||||||||||||||||||||
Due after five through 10 years | 157 | |||||||||||||||||||||||
Due after 10 years | 319 | |||||||||||||||||||||||
Total | $ | 987 | ||||||||||||||||||||||
Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 157 | $ | 90 | $ | 34 | ||||||||||||||||||
Realized losses | 11 | 46 | 18 | |||||||||||||||||||||
DUKE ENERGY PROGRESS | ||||||||||||||||||||||||
The following table presents the estimated fair value of investments in available-for-sale securities. | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 50 | $ | — | $ | — | $ | 48 | ||||||||||||
Equity securities | 612 | 10 | 1,171 | 535 | 3 | 1,069 | ||||||||||||||||||
Corporate debt securities | 5 | — | 97 | 3 | 1 | 80 | ||||||||||||||||||
Municipal bonds | 4 | — | 120 | 2 | 4 | 104 | ||||||||||||||||||
U.S. government bonds | 9 | 1 | 265 | 4 | 3 | 232 | ||||||||||||||||||
Other debt securities | — | — | 8 | — | — | 5 | ||||||||||||||||||
Total NDTF | 630 | 11 | 1,711 | 544 | 11 | 1,538 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | — | — | — | 2 | ||||||||||||||||||
Total Other Investments(a) | — | — | — | — | — | 2 | ||||||||||||||||||
Total Investments | $ | 630 | $ | 11 | $ | 1,711 | $ | 544 | $ | 11 | $ | 1,540 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
The table below summarizes the maturity date for debt securities. | ||||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 14 | ||||||||||||||||||||||
Due after one through five years | 140 | |||||||||||||||||||||||
Due after five through 10 years | 109 | |||||||||||||||||||||||
Due after 10 years | 227 | |||||||||||||||||||||||
Total | $ | 490 | ||||||||||||||||||||||
Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 19 | $ | 58 | $ | 21 | ||||||||||||||||||
Realized losses | 5 | 26 | 8 | |||||||||||||||||||||
DUKE ENERGY FLORIDA | ||||||||||||||||||||||||
The following table presents the estimated fair value of investments in available-for-sale securities. | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 35 | $ | — | $ | — | $ | 20 | ||||||||||||
Equity securities | 212 | 2 | 317 | 304 | 1 | 546 | ||||||||||||||||||
Corporate debt securities | 1 | — | 41 | — | — | 46 | ||||||||||||||||||
Municipal bonds | — | — | 2 | — | — | 2 | ||||||||||||||||||
U.S. government bonds | 3 | — | 405 | — | 2 | 144 | ||||||||||||||||||
Other debt securities | — | — | 6 | — | — | 3 | ||||||||||||||||||
Total NDTF | 216 | 2 | 806 | 304 | 3 | 761 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | 1 | — | — | 3 | ||||||||||||||||||
Municipal bonds | 3 | — | 43 | 1 | — | 39 | ||||||||||||||||||
Total Other Investments(a) | 3 | — | 44 | 1 | — | 42 | ||||||||||||||||||
Total Investments | $ | 219 | $ | 2 | $ | 850 | $ | 305 | $ | 3 | $ | 803 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
The table below summarizes the maturity date for debt securities. | ||||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 147 | ||||||||||||||||||||||
Due after one through five years | 210 | |||||||||||||||||||||||
Due after five through 10 years | 48 | |||||||||||||||||||||||
Due after 10 years | 92 | |||||||||||||||||||||||
Total | $ | 497 | ||||||||||||||||||||||
Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 138 | $ | 32 | $ | 13 | ||||||||||||||||||
Realized losses | 5 | 20 | 9 | |||||||||||||||||||||
DUKE ENERGY INDIANA | ||||||||||||||||||||||||
The following table presents the estimated fair value of investments in available-for-sale securities. | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1 | ||||||||||||
Equity securities | 28 | — | 71 | 24 | — | 65 | ||||||||||||||||||
Municipal bonds | — | 1 | 30 | — | 1 | 28 | ||||||||||||||||||
Total Other Investments(a) | 28 | 1 | 101 | 24 | 1 | 94 | ||||||||||||||||||
Total Investments | $ | 28 | $ | 1 | $ | 101 | $ | 24 | $ | 1 | $ | 94 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
The table below summarizes the maturity date for debt securities. | ||||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 1 | ||||||||||||||||||||||
Due after one through five years | 17 | |||||||||||||||||||||||
Due after five through 10 years | 8 | |||||||||||||||||||||||
Due after 10 years | 4 | |||||||||||||||||||||||
Total | $ | 30 | ||||||||||||||||||||||
Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were insignificant for the years ended December 31, 2014, 2013 and 2012. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS | |||||||||||||||
Fair value is the exchange price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value definition focuses on an exit price versus the acquisition cost. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data, or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize use of unobservable inputs. A midmarket pricing convention (the midpoint price between bid and ask prices) is permitted for use as a practical expedient. | ||||||||||||||||
Fair value measurements are classified in three levels based on the fair value hierarchy: | ||||||||||||||||
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. An active market is one in which transactions for an asset or liability occur with sufficient frequency and volume to provide ongoing pricing information. | ||||||||||||||||
Level 2 – A fair value measurement utilizing inputs other than quoted prices included in Level 1 that are observable, either directly or indirectly, for an asset or liability. Inputs include (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in markets that are not active, (iii) and inputs other than quoted market prices that are observable for the asset or liability, such as interest rate curves and yield curves observable at commonly quoted intervals, volatilities and credit spreads. A Level 2 measurement cannot have more than an insignificant portion of its valuation based on unobservable inputs. Instruments in this category include non-exchange-traded derivatives, such as over-the-counter forwards, swaps and options; certain marketable debt securities; and financial instruments traded in less than active markets. | ||||||||||||||||
Level 3 – Any fair value measurement which includes unobservable inputs for more than an insignificant portion of the valuation. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Level 3 measurements may include longer-term instruments that extend into periods in which observable inputs are not available. | ||||||||||||||||
The fair value accounting guidance permits entities to elect to measure certain financial instruments that are not required to be accounted for at fair value, such as equity method investments or the company’s own debt, at fair value. The Duke Energy Registrants have not elected to record any of these items at fair value. | ||||||||||||||||
Transfers between levels represent assets or liabilities that were previously (i) categorized at a higher level for which the inputs to the estimate became less observable or (ii) classified at a lower level for which the inputs became more observable during the period. The Duke Energy Registrant’s policy is to recognize transfers between levels of the fair value hierarchy at the end of the period. There were no transfers between Levels 1 and 2 during the years ended December 31, 2014, 2013 and 2012. Transfers out of Level 3 during the year ended December 31, 2014 are the result of forward commodity prices becoming observable due to the passage of time. | ||||||||||||||||
Valuation methods of the primary fair value measurements disclosed below are as follows. | ||||||||||||||||
Investments in equity securities | ||||||||||||||||
The majority of investments in equity securities are valued using Level 1 measurements. Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as NASDAQ and New York Stock Exchange (NYSE). Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. There was no after-hours market activity that was required to be reflected in the reported fair value measurements. Investments in equity securities that are Level 2 or 3 are typically ownership interests in commingled investment funds. | ||||||||||||||||
Investments in debt securities | ||||||||||||||||
Most investments in debt securities are valued using Level 2 measurements because the valuations use interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. If the market for a particular fixed income security is relatively inactive or illiquid, the measurement is Level 3. | ||||||||||||||||
Commodity derivatives | ||||||||||||||||
Commodity derivatives with clearinghouses are classified as Level 1. Other commodity derivatives are primarily fair valued using internally developed discounted cash flow models which incorporate forward price, adjustments for liquidity (bid-ask spread) and credit or non-performance risk (after reflecting credit enhancements such as collateral), and are discounted to present value. Pricing inputs are derived from published exchange transaction prices and other observable data sources. In the absence of an active market, the last available price may be used. If forward price curves are not observable for the full term of the contract and the unobservable period had more than an insignificant impact on the valuation, the commodity derivative is classified as Level 3. In isolation, increases (decreases) in natural gas forward prices result in favorable (unfavorable) fair value adjustments for gas purchase contracts; and increases (decreases) in electricity forward prices result in unfavorable (favorable) fair value adjustments for electricity sales contracts. Duke Energy regularly evaluates and validates pricing inputs used to estimate fair value of gas commodity contracts by a market participant price verification procedure. This procedure provides a comparison of internal forward commodity curves to market participant generated curves. | ||||||||||||||||
Interest rate derivatives | ||||||||||||||||
Most over-the-counter interest rate contract derivatives are valued using financial models which utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward interest rate curves, notional amounts, interest rates and credit quality of the counterparties. | ||||||||||||||||
Goodwill and Long-Lived Assets and Assets Held for Sale | ||||||||||||||||
See Note 11 for a discussion of the valuation of goodwill and long-lived assets and Note 2 related to the assets and related liabilities of the Disposal Group classified as held for sale. | ||||||||||||||||
DUKE ENERGY | ||||||||||||||||
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 3,650 | $ | 3,493 | $ | 6 | $ | 151 | ||||||||
Nuclear decommissioning trust fund debt securities | 1,899 | 648 | 1,251 | — | ||||||||||||
Other trading and available-for-sale equity securities | 96 | 96 | — | — | ||||||||||||
Other trading and available-for-sale debt securities | 263 | 41 | 217 | 5 | ||||||||||||
Derivative assets | 110 | 49 | 24 | 37 | ||||||||||||
Total assets | 6,018 | 4,327 | 1,498 | 193 | ||||||||||||
Derivative liabilities | (668 | ) | (162 | ) | (468 | ) | (38 | ) | ||||||||
Net assets | $ | 5,350 | $ | 4,165 | $ | 1,030 | $ | 155 | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 3,579 | $ | 3,495 | $ | 57 | $ | 27 | ||||||||
Nuclear decommissioning trust fund debt securities | 1,553 | 402 | 1,100 | 51 | ||||||||||||
Other trading and available-for-sale equity securities | 102 | 91 | 11 | — | ||||||||||||
Other trading and available-for-sale debt securities | 333 | 36 | 277 | 20 | ||||||||||||
Derivative assets | 145 | 33 | 70 | 42 | ||||||||||||
Total assets | 5,712 | 4,057 | 1,515 | 140 | ||||||||||||
Derivative liabilities | (321 | ) | 11 | (303 | ) | (29 | ) | |||||||||
Net assets | $ | 5,391 | $ | 4,068 | $ | 1,212 | $ | 111 | ||||||||
The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Amounts included in earnings for derivatives are primarily included in Operating Revenues. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 98 | $ | 13 | $ | 111 | ||||||||||
Total pretax realized or unrealized gains (losses) included in earnings | — | (7 | ) | (7 | ) | |||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 34 | 50 | 84 | |||||||||||||
Sales | (58 | ) | — | (58 | ) | |||||||||||
Settlements | — | (54 | ) | (54 | ) | |||||||||||
Transfers into Level 3 | 68 | 6 | 74 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 14 | (9 | ) | 5 | ||||||||||||
Balance at end of period | $ | 156 | $ | (1 | ) | $ | 155 | |||||||||
Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding | $ | — | $ | (14 | ) | $ | (14 | ) | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 98 | $ | (85 | ) | $ | 13 | |||||||||
Total pretax realized or unrealized gains (losses) included in earnings | — | (42 | ) | (42 | ) | |||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 9 | 21 | 30 | |||||||||||||
Sales | (6 | ) | — | (6 | ) | |||||||||||
Issuances | — | 11 | 11 | |||||||||||||
Settlements | (9 | ) | 25 | 16 | ||||||||||||
Transfers into Level 3 | — | 86 | 86 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 6 | (3 | ) | 3 | ||||||||||||
Balance at end of period | $ | 98 | $ | 13 | $ | 111 | ||||||||||
December 31, 2012 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 124 | $ | (39 | ) | $ | 85 | |||||||||
Amounts acquired in Progress Energy Merger | — | (30 | ) | (30 | ) | |||||||||||
Total pretax realized or unrealized gains (losses) included in earnings | — | 8 | 8 | |||||||||||||
Total pretax gains included in other comprehensive income | 13 | — | 13 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 14 | 22 | 36 | |||||||||||||
Sales | (2 | ) | — | (2 | ) | |||||||||||
Issuances | — | (15 | ) | (15 | ) | |||||||||||
Settlements | (55 | ) | (32 | ) | (87 | ) | ||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 4 | 1 | 5 | |||||||||||||
Balance at end of period | $ | 98 | $ | (85 | ) | $ | 13 | |||||||||
DUKE ENERGY CAROLINAS | ||||||||||||||||
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 2,162 | $ | 2,005 | $ | 6 | $ | 151 | ||||||||
Nuclear decommissioning trust fund debt securities | 870 | 138 | 732 | — | ||||||||||||
Other trading and available-for-sale debt securities | 3 | — | — | 3 | ||||||||||||
Total assets | 3,035 | 2,143 | 738 | 154 | ||||||||||||
Derivative liabilities | (19 | ) | — | (19 | ) | — | ||||||||||
Net assets | $ | 3,016 | $ | 2,143 | $ | 719 | $ | 154 | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,964 | $ | 1,879 | $ | 58 | $ | 27 | ||||||||
Nuclear decommissioning trust fund debt securities | 870 | 168 | 651 | 51 | ||||||||||||
Other trading and available-for-sale debt securities | 3 | — | — | 3 | ||||||||||||
Total assets | 2,837 | 2,047 | 709 | 81 | ||||||||||||
Derivative liabilities | (2 | ) | — | — | (2 | ) | ||||||||||
Net assets | $ | 2,835 | $ | 2,047 | $ | 709 | $ | 79 | ||||||||
The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 81 | $ | (2 | ) | $ | 79 | |||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 34 | — | 34 | |||||||||||||
Sales | (43 | ) | — | (43 | ) | |||||||||||
Settlements | — | 2 | 2 | |||||||||||||
Transfers into Level 3 | 68 | — | 68 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 14 | — | 14 | |||||||||||||
Balance at end of period | $ | 154 | $ | — | $ | 154 | ||||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 72 | $ | (12 | ) | $ | 60 | |||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 9 | — | 9 | |||||||||||||
Issuances | (6 | ) | — | (6 | ) | |||||||||||
Settlements | — | 10 | 10 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 6 | — | 6 | |||||||||||||
Balance at end of period | $ | 81 | $ | (2 | ) | $ | 79 | |||||||||
December 31, 2012 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 65 | $ | — | $ | 65 | ||||||||||
Total pretax gains included in other comprehensive income | 2 | — | 2 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 14 | — | 14 | |||||||||||||
Sales | — | (14 | ) | (14 | ) | |||||||||||
Issuances | (2 | ) | — | (2 | ) | |||||||||||
Settlements | (11 | ) | 2 | (9 | ) | |||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 4 | — | 4 | |||||||||||||
Balance at end of period | $ | 72 | $ | (12 | ) | $ | 60 | |||||||||
PROGRESS ENERGY | ||||||||||||||||
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis end on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,488 | $ | 1,488 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities | 1,029 | 510 | 519 | — | ||||||||||||
Other trading and available-for-sale debt securities | 58 | 15 | 43 | — | ||||||||||||
Derivative assets | 4 | — | 4 | — | ||||||||||||
Total assets | 2,579 | 2,013 | 566 | — | ||||||||||||
Derivative liabilities | (373 | ) | — | (373 | ) | — | ||||||||||
Net assets | $ | 2,206 | $ | 2,013 | $ | 193 | $ | — | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,615 | $ | 1,615 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities | 677 | 233 | 444 | — | ||||||||||||
Other trading and available-for-sale debt securities | 58 | 19 | 39 | — | ||||||||||||
Derivative assets | 3 | — | 3 | — | ||||||||||||
Total assets | 2,353 | 1,867 | 486 | — | ||||||||||||
Derivative liabilities | (187 | ) | — | (187 | ) | — | ||||||||||
Net assets | $ | 2,166 | $ | 1,867 | $ | 299 | $ | — | ||||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | — | $ | (38 | ) | $ | (24 | ) | ||||||||
Total pretax realized or unrealized gains included in earnings | — | — | 1 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Issuances | — | 10 | (16 | ) | ||||||||||||
Settlements | — | — | 4 | |||||||||||||
Transfers into Level 3 | — | 34 | — | |||||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | — | (6 | ) | (3 | ) | |||||||||||
Balance at end of period | $ | — | $ | — | $ | (38 | ) | |||||||||
DUKE ENERGY PROGRESS | ||||||||||||||||
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,171 | $ | 1,171 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 540 | 151 | 389 | — | ||||||||||||
Total assets | 1,711 | 1,322 | 389 | — | ||||||||||||
Derivative liabilities | (132 | ) | — | (132 | ) | — | ||||||||||
Net assets | $ | 1,579 | $ | 1,322 | $ | 257 | $ | — | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,069 | $ | 1,069 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 470 | 137 | 333 | — | ||||||||||||
Other trading and available-for-sale debt securities and other | 3 | 3 | — | — | ||||||||||||
Derivative assets | 1 | — | 1 | — | ||||||||||||
Total assets | 1,543 | 1,209 | 334 | — | ||||||||||||
Derivative liabilities | (66 | ) | — | (66 | ) | — | ||||||||||
Net assets | $ | 1,477 | $ | 1,209 | $ | 268 | $ | — | ||||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | — | $ | (38 | ) | $ | (24 | ) | ||||||||
Total pretax realized or unrealized gains included in earnings | — | — | 1 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Issuances | — | 10 | (16 | ) | ||||||||||||
Settlements | — | — | 4 | |||||||||||||
Transfers into Level 3 | — | 34 | — | |||||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | — | (6 | ) | (3 | ) | |||||||||||
Balance at end of period | $ | — | $ | — | $ | (38 | ) | |||||||||
DUKE ENERGY FLORIDA | ||||||||||||||||
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 317 | $ | 317 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 489 | 359 | 130 | — | ||||||||||||
Other trading and available-for-sale debt securities and other | 44 | — | 44 | — | ||||||||||||
Derivative assets | 4 | — | 4 | — | ||||||||||||
Total assets | 854 | 676 | 178 | — | ||||||||||||
Derivative liabilities | (241 | ) | — | (241 | ) | — | ||||||||||
Net assets (liabilities) | $ | 613 | $ | 676 | $ | (63 | ) | $ | — | |||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 546 | $ | 546 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 214 | 96 | 118 | — | ||||||||||||
Other trading and available-for-sale debt securities and other | 40 | 2 | 38 | — | ||||||||||||
Derivative assets | 1 | — | 1 | — | ||||||||||||
Total assets | 801 | 644 | 157 | — | ||||||||||||
Derivative liabilities | (116 | ) | — | (116 | ) | — | ||||||||||
Net assets | $ | 685 | $ | 644 | $ | 41 | $ | — | ||||||||
DUKE ENERGY OHIO | ||||||||||||||||
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which are disclosed in Note 14. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Derivative assets | $ | 49 | $ | 20 | $ | 9 | $ | 20 | ||||||||
Derivative liabilities | (181 | ) | (117 | ) | (26 | ) | (38 | ) | ||||||||
Net assets (liabilities) | $ | (132 | ) | $ | (97 | ) | $ | (17 | ) | $ | (18 | ) | ||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Derivative assets | $ | 96 | $ | 50 | $ | 21 | $ | 25 | ||||||||
Derivative liabilities | (95 | ) | (1 | ) | (65 | ) | (29 | ) | ||||||||
Net assets (liabilities) | $ | 1 | $ | 49 | $ | (44 | ) | $ | (4 | ) | ||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | (4 | ) | $ | (6 | ) | $ | (3 | ) | |||||||
Total pretax realized or unrealized gains included in earnings | (9 | ) | (42 | ) | (3 | ) | ||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 1 | 1 | — | |||||||||||||
Settlements | (13 | ) | — | 1 | ||||||||||||
Transfers into Level 3 | 6 | 43 | — | |||||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | 1 | — | (1 | ) | ||||||||||||
Balance at end of period | $ | (18 | ) | $ | (4 | ) | $ | (6 | ) | |||||||
DUKE ENERGY INDIANA | ||||||||||||||||
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Available-for-sale equity securities | $ | 71 | $ | 71 | $ | — | $ | — | ||||||||
Available-for-sale debt securities | 30 | — | 30 | — | ||||||||||||
Derivative assets | 14 | — | — | 14 | ||||||||||||
Net assets (liabilities) | $ | 115 | $ | 71 | $ | 30 | $ | 14 | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Available-for-sale equity securities | $ | 65 | $ | 65 | $ | — | $ | — | ||||||||
Available-for-sale debt securities | 29 | — | 29 | — | ||||||||||||
Derivative assets | 12 | — | — | 12 | ||||||||||||
Net assets (liabilities) | $ | 106 | $ | 65 | $ | 29 | $ | 12 | ||||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 12 | $ | 10 | $ | 4 | ||||||||||
Total pretax realized or unrealized gains included in earnings | 3 | 8 | 36 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 49 | 20 | — | |||||||||||||
Issuances | — | — | 22 | |||||||||||||
Settlements | (41 | ) | (30 | ) | (52 | ) | ||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | (9 | ) | 4 | — | ||||||||||||
Balance at end of period | $ | 14 | $ | 12 | $ | 10 | ||||||||||
QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS | ||||||||||||||||
The following table includes quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
Investment Type | Fair Value | Valuation Technique | Unobservable Input | Range | ||||||||||||
(in millions) | ||||||||||||||||
Duke Energy | ||||||||||||||||
Natural gas contracts | $ | (5 | ) | Discounted cash flow | Forward natural gas curves - price per Million British Thermal Unit (MMBtu) | $ | 2.12 | - | 4.35 | |||||||
Financial transmission rights (FTRs) | 14 | RTO auction pricing | FTR price - per Megawatt-Hour (MWh) | (1.92 | ) | - | 9.86 | |||||||||
Electricity contracts | (1 | ) | Discounted cash flow | Forward electricity curves - price per MWh | 25.16 | - | 51.75 | |||||||||
Commodity capacity option contracts | 2 | Discounted cash flow | Forward capacity option curves - price per MW day | 21 | - | 109 | ||||||||||
Reserves | (11 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | (1 | ) | |||||||||||||
Duke Energy Ohio | ||||||||||||||||
Electricity contracts | $ | (6 | ) | Discounted cash flow | Forward electricity curves - price per MWh | $ | 25.25 | - | 51.75 | |||||||
Natural gas contracts | (5 | ) | Discounted cash flow | Forward natural gas curves - price per MMBtu | 2.12 | - | 4.35 | |||||||||
Reserves | (7 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | (18 | ) | |||||||||||||
Duke Energy Indiana | ||||||||||||||||
FTRs | $ | 14 | RTO auction pricing | FTR price - per MWh | $ | (1.92 | ) | - | 9.86 | |||||||
December 31, 2013 | ||||||||||||||||
Investment Type | Fair Value | Valuation Technique | Unobservable Input | Range | ||||||||||||
(in millions) | ||||||||||||||||
Duke Energy | ||||||||||||||||
Natural gas contracts | $ | (2 | ) | Discounted cash flow | Forward natural gas curves - price per MMBtu | $ | 3.07 | - | 5.37 | |||||||
FERC mitigation power sale agreements | (2 | ) | Discounted cash flow | Forward electricity curves - price per MWh | 25.79 | - | 52.38 | |||||||||
FTRs | 12 | RTO auction pricing | FTR price - per MWh | (0.30 | ) | - | 13.8 | |||||||||
Electricity contracts | 23 | Discounted cash flow | Forward electricity curves - price per MWh | 20.77 | - | 58.9 | ||||||||||
Commodity capacity option contracts | 4 | Discounted cash flow | Forward capacity option curves - price per MW day | 30.4 | - | 165.1 | ||||||||||
Reserves | (22 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | 13 | ||||||||||||||
Duke Energy Carolinas | ||||||||||||||||
FERC mitigation power sale agreements | $ | (2 | ) | Discounted cash flow | Forward electricity curves - price per MWh | $ | 25.79 | - | 52.38 | |||||||
Duke Energy Ohio | ||||||||||||||||
Electricity contracts | $ | 18 | Discounted cash flow | Forward electricity curves - price per MWh | $ | 20.77 | - | 58.9 | ||||||||
Natural gas contracts | (2 | ) | Discounted cash flow | Forward natural gas curves - price per MMBtu | 3.07 | - | 5.37 | |||||||||
Reserves | (20 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | (4 | ) | |||||||||||||
Duke Energy Indiana | ||||||||||||||||
FTRs | $ | 12 | RTO auction pricing | FTR price - per MWh | $ | (0.30 | ) | - | 13.8 | |||||||
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, 2014 | December 31, 2013 | |||||||||||||||
(in millions) | Book Value | Fair Value | Book Value | Fair Value | ||||||||||||
Duke Energy | $ | 40,020 | $ | 44,566 | $ | 40,256 | $ | 42,592 | ||||||||
Duke Energy Carolinas | 8,391 | 9,626 | 8,436 | 9,123 | ||||||||||||
Progress Energy | 14,754 | 16,951 | 14,115 | 15,234 | ||||||||||||
Duke Energy Progress | 6,201 | 6,696 | 5,235 | 5,323 | ||||||||||||
Duke Energy Florida | 4,860 | 5,767 | 4,886 | 5,408 | ||||||||||||
Duke Energy Ohio | 1,766 | 1,970 | 2,188 | 2,237 | ||||||||||||
Duke Energy Indiana | 3,791 | 4,456 | 3,796 | 4,171 | ||||||||||||
At both December 31, 2014 and December 31, 2013, fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper, and non-recourse notes payable of variable interest entities are not materially different from their carrying amounts because of the short-term nature of these instruments and/or because the stated rates approximate market rates. |
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||||||||||||||
Variable Interest Entities | VARIABLE INTEREST ENTITIES | |||||||||||||||||||||||||||
A VIE is an entity that is evaluated for consolidation using more than a simple analysis of voting control. The analysis to determine whether an entity is a VIE considers contracts with an entity, credit support for an entity, the adequacy of the equity investment of an entity, and the relationship of voting power to the amount of equity invested in an entity. This analysis is performed either upon the creation of a legal entity or upon the occurrence of an event requiring reevaluation, such as a significant change in an entity’s assets or activities. A qualitative analysis of control determines the party that consolidates a VIE. This assessment is based on (i) what party has the power to direct the most significant activities of the VIE that impact its economic performance, and (ii) what party has rights to receive benefits or is obligated to absorb losses that are significant to the VIE. The analysis of the party that consolidates a VIE is a continual reassessment. | ||||||||||||||||||||||||||||
No financial support was provided to any of the consolidated VIEs during the years ended December 31, 2014, 2013 and 2012, or is expected to be provided in the future, that was not previously contractually required. | ||||||||||||||||||||||||||||
CONSOLIDATED VIEs | ||||||||||||||||||||||||||||
The following tables summarize the impact of VIEs consolidated by Duke Energy and the Subsidiary Registrants on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | ||||||||||||||||||||||||||
(in millions) | DERF | DEPR(c) | DEFR(c) | CRC | Renewables | Other | Total | |||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | $ | 647 | $ | 436 | $ | 305 | $ | 547 | $ | 20 | $ | 18 | $ | 1,973 | ||||||||||||||
Other | — | — | — | — | 68 | 6 | 74 | |||||||||||||||||||||
Investments and Other Assets | ||||||||||||||||||||||||||||
Other | — | — | — | — | 25 | 25 | 50 | |||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||||||||||
Property, plant and equipment, cost(a) | — | — | — | — | 1,855 | 18 | 1,873 | |||||||||||||||||||||
Accumulated depreciation and amortization | — | — | — | — | (250 | ) | (5 | ) | (255 | ) | ||||||||||||||||||
Regulatory Assets and Deferred Debits | ||||||||||||||||||||||||||||
Other | — | — | — | — | 34 | 2 | 36 | |||||||||||||||||||||
Total assets | $ | 647 | $ | 436 | $ | 305 | $ | 547 | $ | 1,752 | $ | 64 | $ | 3,751 | ||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||
Accounts payable | — | — | — | — | 3 | — | 3 | |||||||||||||||||||||
Taxes accrued | — | — | — | — | 6 | — | 6 | |||||||||||||||||||||
Current maturities of long-term debt | — | — | — | — | 68 | 16 | 84 | |||||||||||||||||||||
Other | — | — | — | — | 16 | 5 | 21 | |||||||||||||||||||||
Long-Term Debt(b) | 400 | 300 | 225 | 325 | 967 | 17 | 2,234 | |||||||||||||||||||||
Deferred Credits and Other Liabilities | ||||||||||||||||||||||||||||
Deferred income taxes | — | — | — | — | 283 | — | 283 | |||||||||||||||||||||
Asset retirement obligations | — | — | — | — | 29 | — | 29 | |||||||||||||||||||||
Other | — | — | — | — | 34 | 4 | 38 | |||||||||||||||||||||
Total liabilities | $ | 400 | $ | 300 | $ | 225 | $ | 325 | $ | 1,406 | $ | 42 | $ | 2,698 | ||||||||||||||
Net assets of consolidated variable interest entities | $ | 247 | $ | 136 | $ | 80 | $ | 222 | $ | 346 | $ | 22 | $ | 1,053 | ||||||||||||||
(a) | Restricted as collateral for non-recourse debt of VIEs. | |||||||||||||||||||||||||||
(b) | Non-recourse to the general assets of the applicable registrant. | |||||||||||||||||||||||||||
(c) | The amount for Progress Energy is equal to the amount for Duke Energy Progress Receivables Company, LLC (DEPR) and Duke Energy Florida Receivables Company, LLC (DEFR). | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Duke Energy Carolinas | Duke Energy Progress | |||||||||||||||||||||||||||
(in millions) | DERF | DEPR(c) | CRC | Renewables | Other | Total | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | $ | 673 | $ | 416 | $ | 595 | $ | 18 | $ | 17 | $ | 1,719 | ||||||||||||||||
Other | — | — | — | 89 | 12 | 101 | ||||||||||||||||||||||
Investments and Other Assets | ||||||||||||||||||||||||||||
Other | — | — | — | 29 | 51 | 80 | ||||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||||||||||
Property, plant and equipment, cost(a) | — | — | — | 1,662 | 18 | 1,680 | ||||||||||||||||||||||
Accumulated depreciation and amortization | — | — | — | (170 | ) | (5 | ) | (175 | ) | |||||||||||||||||||
Regulatory Assets and Deferred Debits | ||||||||||||||||||||||||||||
Other | 1 | 1 | — | 34 | — | 36 | ||||||||||||||||||||||
Total assets | $ | 674 | $ | 417 | $ | 595 | $ | 1,662 | $ | 93 | $ | 3,441 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||
Accounts payable | — | — | — | 2 | — | 2 | ||||||||||||||||||||||
Taxes accrued | — | — | — | 10 | — | 10 | ||||||||||||||||||||||
Current maturities of long-term debt | — | — | — | 66 | 14 | 80 | ||||||||||||||||||||||
Other | — | — | — | 17 | 10 | 27 | ||||||||||||||||||||||
Long-Term Debt(b) | 400 | 300 | 325 | 907 | 34 | 1,966 | ||||||||||||||||||||||
Deferred Credits and Other Liabilities | — | |||||||||||||||||||||||||||
Deferred income taxes | — | — | — | 290 | — | 290 | ||||||||||||||||||||||
Asset retirement obligations | — | — | — | 26 | — | 26 | ||||||||||||||||||||||
Other | 1 | — | — | 17 | 13 | 31 | ||||||||||||||||||||||
Total liabilities | $ | 401 | $ | 300 | $ | 325 | $ | 1,335 | $ | 71 | $ | 2,432 | ||||||||||||||||
Net assets of consolidated variable interest entities | $ | 273 | $ | 117 | $ | 270 | $ | 327 | $ | 22 | $ | 1,009 | ||||||||||||||||
(a) | Restricted as collateral for non-recourse debt of VIEs. | |||||||||||||||||||||||||||
(b) | Non-recourse to the general assets of the applicable registrant. | |||||||||||||||||||||||||||
(c) | The amount Progress Energy is equal to the amount for DEPR. | |||||||||||||||||||||||||||
The obligations of these VIEs are non-recourse to Duke Energy, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida. These entities have no requirement to provide liquidity to, purchase assets of, or guarantee performance of these VIEs unless noted in the following paragraphs. | ||||||||||||||||||||||||||||
DERF / DEPR / DEFR | ||||||||||||||||||||||||||||
Duke Energy Receivables Finance Company, LLC (DERF), DEPR, and DEFR are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress, and Duke Energy Florida, respectively. On a daily basis, DERF, DEPR, and DEFR buy certain accounts receivable arising from the sale of electricity and/or related services from their parent companies. DERF, DEPR, and DEFR are wholly owned limited liability companies with separate legal existence from their parents, and their assets are not generally available to creditors of their parent companies. DERF, DEPR, and DEFR borrow amounts under credit facilities to buy the receivables. Borrowing availability is limited to the amount of qualified receivables sold, which is generally expected to be in excess of the credit facilities. The credit facilities are reflected on the Consolidated Balance Sheets as Long-Term Debt. The secured credit facilities were not structured to meet the criteria for sale accounting treatment under the accounting guidance for transfers and servicing of financial assets. | ||||||||||||||||||||||||||||
The most significant activity that impacts the economic performance of DERF, DEPR, and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress, and Duke Energy Florida consolidate DERF, DEPR, and DEFR, respectively, as they make those decisions. | ||||||||||||||||||||||||||||
The following table outlines amounts and expiration dates of the credit facilities. | ||||||||||||||||||||||||||||
DERF | DEPR | DEFR | ||||||||||||||||||||||||||
Credit facility amount (in millions) | $ | 400 | $ | 300 | $ | 225 | ||||||||||||||||||||||
Expiration date | Oct-16 | Dec-16 | Mar-17 | |||||||||||||||||||||||||
CRC | ||||||||||||||||||||||||||||
On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity and/or related services from Duke Energy Ohio and Duke Energy Indiana. Receivables sold are securitized by CRC through a credit facility managed by two unrelated third parties. The proceeds Duke Energy Ohio and Duke Energy Indiana receive from the sale of receivables to CRC are typically 75 percent cash and 25 percent in the form of a subordinated note from CRC. The subordinated note is a retained interest in the receivables sold. Cash collections from the receivables are the sole source of funds to satisfy the related debt obligation. Depending on experience with collections, additional equity infusions to CRC may be required by Duke Energy to maintain a minimum equity balance of $3 million. There were no infusions to CRC during the years ended December 31, 2014 and 2013. Borrowing availability is limited to the amount of qualified receivables sold, which is generally expected to be in excess of the credit facility. The credit facility expires in November 2016 and is reflected on the Consolidated Balance Sheets as Long-Term Debt. | ||||||||||||||||||||||||||||
CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the most significant activities that impact economic performance of the entity are not performed by the equity holder, Cinergy, and (iii) deficiencies in net worth of CRC are not funded by Cinergy, but by Duke Energy. The most significant activity of CRC relates to the decisions made with respect to the management of delinquent receivables. Duke Energy consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC. | ||||||||||||||||||||||||||||
Renewables | ||||||||||||||||||||||||||||
Certain of Duke Energy’s renewable energy facilities are VIEs due to long-term fixed price power purchase agreements. These fixed price agreements effectively transfer commodity price risk to the buyer of the power. Certain other of Duke Energy’s renewable energy facilities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. For certain VIEs, assets are restricted and cannot be pledged as collateral or sold to third parties without prior approval of debt holders. The most significant activities that impact the economic performance of these renewable energy facilities were decisions associated with siting, negotiating purchase power agreements, engineering, procurement and construction, and decisions associated with ongoing operations and maintenance-related activities. Duke Energy consolidates the entities as it makes all of these decisions. | ||||||||||||||||||||||||||||
NON-CONSOLIDATED VIEs | ||||||||||||||||||||||||||||
The tables below show VIEs not consolidated and how these entities impact the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
(in millions) | Renewables | Other | Total | Duke Energy | Duke Energy | |||||||||||||||||||||||
Ohio | Indiana | |||||||||||||||||||||||||||
Receivables | $ | — | $ | — | $ | — | $ | 91 | $ | 113 | ||||||||||||||||||
Investments in equity method unconsolidated affiliates | 150 | 38 | 188 | — | — | |||||||||||||||||||||||
Investments and other assets | — | 4 | 4 | — | — | |||||||||||||||||||||||
Total assets(a) | $ | 150 | $ | 42 | $ | 192 | $ | 91 | $ | 113 | ||||||||||||||||||
Other current liabilities | — | 3 | 3 | — | — | |||||||||||||||||||||||
Deferred credits and other liabilities | — | 14 | 14 | — | — | |||||||||||||||||||||||
Total liabilities | $ | — | $ | 17 | $ | 17 | $ | — | $ | — | ||||||||||||||||||
Net assets (liabilities) | $ | 150 | $ | 25 | $ | 175 | $ | 91 | $ | 113 | ||||||||||||||||||
(a) | Duke Energy Ohio recorded a pretax impairment charge of $94 million related to OVEC. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
(in millions) | Renewables | Other | Total | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||
Receivables | $ | — | $ | — | $ | — | $ | 114 | $ | 143 | ||||||||||||||||||
Investments in equity method unconsolidated affiliates | 153 | 60 | 213 | — | — | |||||||||||||||||||||||
Intangibles | — | 96 | 96 | 96 | — | |||||||||||||||||||||||
Investments and other assets | — | 4 | 4 | — | — | |||||||||||||||||||||||
Total assets | $ | 153 | $ | 160 | $ | 313 | $ | 210 | $ | 143 | ||||||||||||||||||
Other current liabilities | — | 3 | 3 | — | — | |||||||||||||||||||||||
Deferred credits and other liabilities | — | 15 | 15 | — | — | |||||||||||||||||||||||
Total liabilities | $ | — | $ | 18 | $ | 18 | $ | — | $ | — | ||||||||||||||||||
Net assets | $ | 153 | $ | 142 | $ | 295 | $ | 210 | $ | 143 | ||||||||||||||||||
The Duke Energy Registrants are not aware of any situations where the maximum exposure to loss significantly exceeds the carrying values shown above except for the power purchase agreement with OVEC, which is discussed below, and various guarantees, some of which are reflected in the table above as Deferred credits and other liabilities. For more information on various guarantees, refer to Note 7, "Guarantees and Indemnifications." | ||||||||||||||||||||||||||||
Renewables | ||||||||||||||||||||||||||||
Duke Energy has investments in various renewable energy project entities. Some of these entities are VIEs due to long-term fixed price power purchase agreements. These fixed price agreements effectively transfer commodity price risk to the buyer of the power. Duke Energy does not consolidate these VIEs because power to direct and control key activities is shared jointly by Duke Energy and other owners. | ||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||
At December 31, 2013, the most significant of the Other non-consolidated VIEs was Duke Energy Ohio’s 9 percent ownership interest in OVEC. Through its ownership interest in OVEC, Duke Energy Ohio has a contractual arrangement to buy power from OVEC’s power plants through June 2040. The initial carrying value of this contract was recorded as an intangible asset when Duke Energy acquired Cinergy in April 2006. Proceeds from the sale of power by OVEC to its power purchase agreement counterparties are designed to be sufficient to meet its operating expenses, fixed costs, debt amortization and interest expense, as well as earn a return on equity. Accordingly, the value of this contract is subject to variability due to fluctuations in power prices and changes in OVEC’s costs of business, including costs associated with its 2,256 MW of coal-fired generation capacity. Proposed environmental rulemaking could increase the costs of OVEC, which would be passed through to Duke Energy Ohio. In 2014, Duke Energy recorded a $94 million impairment related to OVEC. | ||||||||||||||||||||||||||||
CRC | ||||||||||||||||||||||||||||
See discussion under Consolidated VIEs for additional information related to CRC. | ||||||||||||||||||||||||||||
Amounts included in Receivables in the above table for Duke Energy Ohio and Duke Energy Indiana reflect their retained interest in receivables sold to CRC. These subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value. Carrying values of retained interests are determined by allocating carrying value of the receivables between assets sold and interests retained based on relative fair value. The allocated bases of the subordinated notes are not materially different than their face value because (i) the receivables generally turnover in less than two months, (ii) credit losses are reasonably predictable due to the broad customer base and lack of significant concentration, and (iii) the equity in CRC is subordinate to all retained interests and thus would absorb losses first. The hypothetical effect on fair value of the retained interests assuming both a 10 percent and a 20 percent unfavorable variation in credit losses or discount rates is not material due to the short turnover of receivables and historically low credit loss history. Interest accrues to Duke Energy Ohio and Duke Energy Indiana on the retained interests using the acceptable yield method. This method generally approximates the stated rate on the notes since the allocated basis and the face value are nearly equivalent. An impairment charge is recorded against the carrying value of both retained interests and purchased beneficial interest whenever it is determined that an other-than-temporary impairment has occurred. | ||||||||||||||||||||||||||||
Key assumptions used in estimating fair value are detailed in the following table. | ||||||||||||||||||||||||||||
Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Anticipated credit loss ratio | 0.6 | % | 0.6 | % | 0.3 | % | 0.3 | % | ||||||||||||||||||||
Discount rate | 1.2 | % | 1.2 | % | 1.2 | % | 1.2 | % | ||||||||||||||||||||
Receivable turnover rate | 12.8 | % | 12.8 | % | 10.5 | % | 10.3 | % | ||||||||||||||||||||
The following table shows the gross and net receivables sold. | ||||||||||||||||||||||||||||
Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Receivables sold | $ | 273 | $ | 290 | $ | 310 | $ | 340 | ||||||||||||||||||||
Less: Retained interests | 91 | 114 | 113 | 143 | ||||||||||||||||||||||||
Net receivables sold | $ | 182 | $ | 176 | $ | 197 | $ | 197 | ||||||||||||||||||||
The following table shows sales and cash flows related to receivables sold. | ||||||||||||||||||||||||||||
Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||||||
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||
Receivables sold | $ | 2,246 | $ | 2,251 | $ | 2,154 | $ | 2,913 | $ | 2,985 | $ | 2,773 | ||||||||||||||||
Loss recognized on sale | 11 | 12 | 13 | 11 | 11 | 12 | ||||||||||||||||||||||
Cash Flows | ||||||||||||||||||||||||||||
Cash proceeds from receivables sold | 2,261 | 2,220 | 2,172 | 2,932 | 2,944 | 2,784 | ||||||||||||||||||||||
Collection fees received | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||||||
Return received on retained interests | 4 | 5 | 5 | 6 | 6 | 7 | ||||||||||||||||||||||
Cash flows from the sales of receivables are reflected within Operating Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Cash Flows. | ||||||||||||||||||||||||||||
Collection fees received in connection with servicing transferred accounts receivable are included in Operation, maintenance and other on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Operations and Comprehensive Income. The loss recognized on sales of receivables is calculated monthly by multiplying receivables sold during the month by the required discount. The required discount is derived monthly utilizing a three-year weighted average formula that considers charge-off history, late charge history and turnover history on the sold receivables, as well as a component for the time value of money. The discount rate, or component for the time value of money, is the prior month-end LIBOR plus a fixed rate of 1.00 percent. |
Common_Stock
Common Stock | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Earnings Per Share [Abstract] | ||||||||||
Common Stock | COMMON STOCK | |||||||||
Basic Earnings Per Share (EPS) is computed by dividing net income attributable to Duke Energy common shareholders, 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 attributable to Duke Energy common shareholders, 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, phantom shares and stock-based performance unit awards were exercised or settled. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common shares during the restricted stock units’ vesting period. | ||||||||||
On July 2, 2012, just prior to the close of the merger with Progress Energy, Duke Energy executed a one-for-three reverse stock split. All earnings per share amounts included in this 10-K are presented as if the one-for-three reverse stock split had been effective January 1, 2012. The following table presents Duke Energy’s basic and diluted EPS calculations and reconciles the weighted-average number of common shares outstanding to the diluted weighted-average number of common shares outstanding. | ||||||||||
Years Ended December 31, | ||||||||||
(in millions, except per share amounts) | 2014 | 2013 | 2012 | |||||||
Income from continuing operations attributable to Duke Energy common shareholders excluding impact of participating securities | 2,446 | 2,565 | 1,588 | |||||||
Weighted-average shares outstanding - basic | 707 | 706 | 574 | |||||||
Stock options, performance and restricted shares | — | — | 1 | |||||||
Weighted-average shares outstanding - diluted | 707 | 706 | 575 | |||||||
Earnings per share from continuing operations attributable to Duke Energy common shareholders | ||||||||||
Basic | $ | 3.46 | 3.64 | 2.77 | ||||||
Diluted | $ | 3.46 | 3.63 | 2.77 | ||||||
Potentially dilutive items excluded from the calculation(a) | 2 | 2 | 1 | |||||||
Dividends declared per common share | $ | 3.15 | 3.09 | 3.03 | ||||||
(a) | Stock options and performance and unvested stock awards were not included in the dilutive securities calculation because either the option exercise prices were greater than the average market price of the common shares during those periods, or performance measures related to the awards had not yet been met. |
Severance
Severance | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||
Severance | SEVERANCE | ||||||||||||||
In conjunction with the merger with Progress Energy, in November 2011 Duke Energy and Progress Energy offered a voluntary severance plan to certain eligible employees. Approximately 1,100 employees from Duke Energy and Progress Energy requested severance during the voluntary window, which closed on November 30, 2011. As this was a voluntary severance plan, all severance benefits offered under this plan are considered special termination benefits under U.S. GAAP. Special termination benefits are measured upon employee acceptance and recorded immediately absent any significant retention period. If a significant retention period exists, the cost of the special termination benefits are recorded ratably over the retention period. Most plan participants have separated from the company as of December 31, 2014. The amount of severance expense associated with this voluntary plan, and other severance expense for involuntary terminations related to the merger, was not material for the year ended December 31, 2014. | |||||||||||||||
Amounts included in the table below represent direct and allocated severance and related expense recorded by the Duke Energy Registrants, and are in Operation, maintenance and other within Operating Expenses on the Consolidated Statements of Operations. | |||||||||||||||
Year Ended December 31, | |||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||
Duke Energy(a) | $ | 34 | $ | 201 | |||||||||||
Duke Energy Carolinas | 8 | 63 | |||||||||||||
Progress Energy | 19 | 82 | |||||||||||||
Duke Energy Progress | 14 | 55 | |||||||||||||
Duke Energy Florida | 5 | 27 | |||||||||||||
Duke Energy Ohio | 2 | 21 | |||||||||||||
Duke Energy Indiana | 2 | 18 | |||||||||||||
(a) | Includes $5 million and $14 million of accelerated stock award expense and $2 million and $19 million of COBRA and health care reimbursement expenses for 2013 and 2012, respectively. | ||||||||||||||
In conjunction with the retirement of Crystal River Unit 3, severance benefits have been made available to certain eligible impacted unionized and non-unionized employees, to the extent that those employees do not find job opportunities at other locations. Approximately 600 employees worked at Crystal River Unit 3. For the year ended December 31, 2013, Duke Energy Florida deferred $26 million of severance costs as a regulatory asset. Duke Energy Florida did not defer severance costs as a regulatory asset for the year ended December 31, 2014. Severance costs expected to be accrued over the remaining retention period for employees identified to have a significant retention period is not material. However, these employees maintain the ability to accept job opportunities at other Duke Energy locations, which would result in severance not being paid. If a significant amount of these individuals redeploy within Duke Energy, the final severance benefits paid under the plan may be less than what has been accrued to date. Refer to Note 4 for further discussion regarding Crystal River Unit 3. | |||||||||||||||
During 2014, in conjunction with the disposition of the nonregulated Midwest Generation business, severance benefits have been made available to certain eligible non-unionized employees, to the extent those employees do not find other job opportunities. Approximately 50 employees are expected to receive benefits. Duke Energy Ohio recorded severance expense of $6 million and included in (Loss) Income from Discontinued Operations, net of tax in the Duke Energy Statements of Operations and Comprehensive Income for the year ended December 31, 2014. For further information related to the Midwest Generation Exit, see Note 2, "Acquisitions, Dispositions and Sales of Other Assets." | |||||||||||||||
Amounts included in the table below represent the severance liability for past and ongoing severance plans. Amounts for Subsidiary Registrants do not include allocated expense or associated cash payments. Amounts for Duke Energy Indiana are not material. | |||||||||||||||
(in millions) | Balance at December 31, 2013 | Provision / Adjustments | Cash Reductions | Balance at December 31, 2014 | |||||||||||
Duke Energy | $ | 64 | $ | 5 | $ | (41 | ) | 28 | |||||||
Duke Energy Carolinas | 5 | 2 | (5 | ) | 2 | ||||||||||
Progress Energy | 44 | (10 | ) | (16 | ) | 18 | |||||||||
Duke Energy Progress | 11 | — | (10 | ) | 1 | ||||||||||
Duke Energy Florida | 24 | (1 | ) | (6 | ) | 17 | |||||||||
Duke Energy Ohio | 2 | 5 | (1 | ) | 6 | ||||||||||
As part of Duke Energy Carolinas’ 2011 rate case, the NCUC approved the recovery of $101 million of previously recorded expenses related to a prior year Voluntary Opportunity Plan. This amount was recorded as a reduction to Operation, maintenance, and other within Operating Expenses on the Consolidated Statements of Operations and recognized as a Regulatory asset on the Consolidated Balance Sheets in 2012. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||
Stock-Based Compensation | STOCK-BASED COMPENSATION | ||||||||||||
Duke Energy’s 2010 Long-Term Incentive Plan (the 2010 Plan) reserved 25 million shares of common stock for awards to employees and outside directors. 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 become vested in the future. Duke Energy has not determined with certainty the amount of such new share issuances or open market repurchases. | |||||||||||||
The 2010 Plan allows for a maximum of 6.25 million shares of common stock to be issued under various stock-based awards other than options and stock appreciation rights. | |||||||||||||
In connection with the acquisition of Progress Energy in July 2012, Duke Energy assumed Progress Energy’s 2007 Equity Incentive Plan (EIP). Stock-based awards granted under the Progress Energy EIP and held by Progress Energy employees were generally converted into outstanding Duke Energy stock-based compensation awards. The estimated fair value of these awards allocated to the purchase price was $62 million. Refer to Note 2 for further information regarding the merger transaction. | |||||||||||||
The following table summarizes the total expense recognized by each of the Duke Energy Registrants, net of tax, for stock-based compensation. | |||||||||||||
Years Ended December 31, | |||||||||||||
(in millions) | 2014 | 2013 | 2012 | ||||||||||
Duke Energy | $ | 38 | $ | 52 | $ | 48 | |||||||
Duke Energy Carolinas | 12 | 13 | 12 | ||||||||||
Progress Energy | 14 | 23 | 25 | ||||||||||
Duke Energy Progress | 9 | 14 | 16 | ||||||||||
Duke Energy Florida | 5 | 9 | 9 | ||||||||||
Duke Energy Ohio | 5 | 4 | 4 | ||||||||||
Duke Energy Indiana | 3 | 4 | 4 | ||||||||||
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) | 2014 | 2013 | 2012 | ||||||||||
Restricted stock unit awards | $ | 39 | $ | 49 | $ | 43 | |||||||
Performance awards | 22 | 34 | 33 | ||||||||||
Stock options | — | 2 | 2 | ||||||||||
Pretax stock-based compensation cost | $ | 61 | $ | 85 | $ | 78 | |||||||
Tax benefit associated with stock-based compensation expense | $ | 23 | $ | 33 | $ | 30 | |||||||
Stock-based compensation costs capitalized | 4 | 3 | 2 | ||||||||||
STOCK OPTIONS | |||||||||||||
The following table summarizes information about stock options outstanding. | |||||||||||||
Options | Weighted-Average Exercise Price (per share) | Weighted-Average Remaining Life | Aggregate Intrinsic Value | ||||||||||
(in thousands) | (in millions) | ||||||||||||
Outstanding at December 31, 2013 | 793 | $ | 61 | ||||||||||
Exercised | (420 | ) | 59 | ||||||||||
Outstanding at December 31, 2014 | 373 | 64 | 6 years, 10 months | $ | 7 | ||||||||
Exercisable at December 31, 2014 | 53 | 46 | 1 year | 2 | |||||||||
Options expected to vest | 320 | 67 | 7 years, 10 months | 5 | |||||||||
The exercise price of each option granted cannot be less than the market price of Duke Energy’s common stock on the date of grant and the maximum option term is 10 years. The vesting periods range from immediate to three years. Options granted in 2013 and 2012 were expensed immediately; therefore, there is no future compensation cost associated with these options. | |||||||||||||
The following table summarizes additional information related to stock options exercised and granted. | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Intrinsic value of options exercised (in millions) | $ | 6 | $ | 26 | $ | 17 | |||||||
Tax benefit related to options exercised (in millions) | 2 | 10 | 7 | ||||||||||
Cash received from options exercised (in millions) | 25 | 9 | 21 | ||||||||||
Stock options granted (in thousands) | — | 310 | 340 | ||||||||||
RESTRICTED STOCK UNIT AWARDS | |||||||||||||
Restricted stock unit awards issued and outstanding generally vest over periods from immediate to 3 years. Fair value amounts are based on the market price of Duke Energy's common stock at the grant date. The following table includes information related to restricted stock unit awards. | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Shares awarded (in thousands) | 557 | 612 | 443 | ||||||||||
Fair value (in millions) | $ | 40 | $ | 42 | $ | 28 | |||||||
The following table summarizes information about restricted stock unit awards outstanding. | |||||||||||||
Shares | Weighted-Average | ||||||||||||
(in thousands) | Grant Date Fair Value | ||||||||||||
(Per Share) | |||||||||||||
Outstanding at December 31, 2013 | 1,400 | $ | 66 | ||||||||||
Granted | 557 | 71 | |||||||||||
Vested | (832 | ) | 62 | ||||||||||
Forfeited | (45 | ) | 68 | ||||||||||
Outstanding at December 31, 2014 | 1,080 | 69 | |||||||||||
Restricted stock unit awards expected to vest | 1,057 | 69 | |||||||||||
The total grant date fair value of shares vested during the years ended December 31, 2014, 2013 and 2012 was $52 million, $50 million and $34 million, respectively. At December 31, 2014, Duke Energy had $18 million of unrecognized compensation cost, which is expected to be recognized over a weighted-average period of one year, ten months. | |||||||||||||
PERFORMANCE AWARDS | |||||||||||||
Stock-based awards issued and outstanding generally vest over three years if performance targets are met. | |||||||||||||
Certain performance awards granted in 2014, 2013 and 2012 contain market conditions based on the total shareholder return (TSR) of Duke Energy stock relative to a predefined peer group (relative TSR). These awards are valued using a path-dependent model that incorporates expected relative TSR into the fair value determination of Duke Energy’s performance-based share awards. The model uses three-year historical volatilities and correlations for all companies in the predefined peer group, including Duke Energy, to simulate Duke Energy’s relative TSR as of the end of the performance period. For each simulation, Duke Energy’s relative TSR associated with the simulated stock price at the end of the performance period plus expected dividends within the period results in a value per share for the award portfolio. The average of these simulations is the expected portfolio value per share. Actual life to date results of Duke Energy’s relative TSR for each grant is incorporated within the model. | |||||||||||||
Other performance awards not containing market conditions were awarded in 2012. The performance goal for these awards is Duke Energy’s return on equity over a three-year period. Awards are measured at grant date price. | |||||||||||||
The following table includes information related to performance awards. | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Shares awarded (in thousands) | 542 | 633 | 352 | ||||||||||
Fair value (in millions) | $ | 19 | $ | 28 | $ | 19 | |||||||
The following table summarizes information about stock-based performance awards outstanding at the maximum level. | |||||||||||||
Shares | Weighted-Average | ||||||||||||
(in thousands) | Grant Date Fair Value | ||||||||||||
(per share) | |||||||||||||
Outstanding at December 31, 2013 | 1,822 | $ | 46 | ||||||||||
Granted | 542 | 34 | |||||||||||
Vested | (524 | ) | 52 | ||||||||||
Forfeited | (213 | ) | 37 | ||||||||||
Outstanding at December 31, 2014 | 1,627 | 42 | |||||||||||
Stock-based performance awards expected to vest | 1,418 | 42 | |||||||||||
The total grant date fair value of shares vested during the years ended December 31, 2014, 2013 and 2012 was $27 million, $42 million and $56 million, respectively. At December 31, 2014, Duke Energy had $21 million of unrecognized compensation cost, which is expected to be recognized over a weighted-average period of one year, nine months. | |||||||||||||
The grant date fair value of performance awards granted in 2014 was determined based on a risk-fee interest rate of 0.7 percent, which reflects the yield on three-year Treasury bonds as of the grant date, and an expected volatility of 13.5 percent based on Duke Energy's historical volatility over three years using daily stock prices. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||||||
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS | |||||||||||||||||||||||||||
DEFINED BENEFIT RETIREMENT PLANS | ||||||||||||||||||||||||||||
Duke Energy maintains, and the Subsidiary Registrants participate in, qualified, non-contributory defined benefit retirement plans. The plans cover most U.S. employees using a cash balance formula. Under a cash balance formula, a plan participant accumulates a retirement benefit consisting of pay credits based upon a percentage of current eligible earnings based on age and/or years of service and interest credits. Certain employees are covered under plans that use a final average earnings formula. Under these average earnings formulas, a plan participant accumulates a retirement benefit equal to the sum of percentages of their (i) highest three-year or four-year average earnings, (ii) highest three-year or four-year average earnings in excess of covered compensation per year of participation (maximum of 35 years), and/or (iii) highest three or four-year average earnings times years of participation in excess of 35 years. Duke Energy also maintains, and the Subsidiary Registrants participate in, non-qualified, non-contributory defined benefit retirement plans which cover certain executives. As of January 1, 2014, the qualified and non-qualified non-contributory defined benefit plans are closed to new and rehired non-union and certain unionized employees. | ||||||||||||||||||||||||||||
Duke Energy uses a December 31 measurement date for its defined benefit retirement plan assets and obligations. | ||||||||||||||||||||||||||||
Net periodic benefit costs disclosed in the tables below represent the cost of the respective benefit plan for the periods presented. However, portions of the net periodic benefit costs disclosed in the tables below have been capitalized as a component of property, plant and equipment. Amounts presented in the tables below for the Subsidiary Registrants represent the amounts of pension and other post-retirement benefit cost allocated by Duke Energy for employees of the Subsidiary Registrants. Additionally, the Subsidiary Registrants are allocated their proportionate share of pension and post-retirement benefit cost for employees of Duke Energy’s shared services affiliate that provide support to the Subsidiary Registrants. These allocated amounts are included in the governance and shared service costs discussed in Note 13. | ||||||||||||||||||||||||||||
Duke Energy’s policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants’ contributions to its U.S. qualified defined benefit pension plans. | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Anticipated Contributions: | ||||||||||||||||||||||||||||
2015 | $ | 302 | $ | 91 | $ | 83 | $ | 42 | $ | 40 | $ | 8 | $ | 19 | ||||||||||||||
Contributions Made: | ||||||||||||||||||||||||||||
2014 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
2013 | 250 | — | 250 | 63 | 133 | — | — | |||||||||||||||||||||
2012 | 304 | — | 346 | 141 | 128 | — | — | |||||||||||||||||||||
QUALIFIED PENSION PLANS | ||||||||||||||||||||||||||||
Components of Net Periodic Pension Costs | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 135 | $ | 41 | $ | 40 | $ | 21 | $ | 20 | $ | 4 | $ | 9 | ||||||||||||||
Interest cost on projected benefit obligation | 344 | 85 | 112 | 54 | 57 | 20 | 29 | |||||||||||||||||||||
Expected return on plan assets | (511 | ) | (132 | ) | (173 | ) | (85 | ) | (85 | ) | (27 | ) | (41 | ) | ||||||||||||||
Amortization of actuarial loss | 150 | 36 | 68 | 32 | 32 | 4 | 13 | |||||||||||||||||||||
Amortization of prior service credit | (15 | ) | (8 | ) | (3 | ) | (2 | ) | (1 | ) | — | — | ||||||||||||||||
Other | 8 | 2 | 3 | 1 | 1 | — | 1 | |||||||||||||||||||||
Net periodic pension costs | $ | 111 | $ | 24 | $ | 47 | $ | 21 | $ | 24 | $ | 1 | $ | 11 | ||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 167 | $ | 49 | $ | 60 | $ | 22 | $ | 30 | $ | 6 | $ | 11 | ||||||||||||||
Interest cost on projected benefit obligation | 320 | 80 | 116 | 50 | 53 | 21 | 28 | |||||||||||||||||||||
Expected return on plan assets | (549 | ) | (148 | ) | (199 | ) | (94 | ) | (87 | ) | (31 | ) | (46 | ) | ||||||||||||||
Amortization of actuarial loss | 244 | 60 | 101 | 46 | 49 | 13 | 24 | |||||||||||||||||||||
Amortization of prior service (credit) cost | (11 | ) | (6 | ) | (4 | ) | (1 | ) | (2 | ) | — | 1 | ||||||||||||||||
Other | 7 | 2 | 2 | 1 | 1 | — | 1 | |||||||||||||||||||||
Net periodic pension costs | $ | 178 | $ | 37 | $ | 76 | $ | 24 | $ | 44 | $ | 9 | $ | 19 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 122 | $ | 35 | $ | 63 | $ | 25 | $ | 30 | $ | 6 | $ | 9 | ||||||||||||||
Interest cost on projected benefit obligation | 307 | 90 | 127 | 58 | 56 | 31 | 30 | |||||||||||||||||||||
Expected return on plan assets | (472 | ) | (146 | ) | (188 | ) | (96 | ) | (81 | ) | (45 | ) | (46 | ) | ||||||||||||||
Amortization of actuarial loss | 144 | 45 | 93 | 37 | 48 | 10 | 15 | |||||||||||||||||||||
Amortization of prior service cost (credit) | 10 | 1 | 9 | 8 | (1 | ) | 1 | 1 | ||||||||||||||||||||
Other | 6 | 2 | 2 | 1 | 1 | — | — | |||||||||||||||||||||
Net periodic pension costs | $ | 117 | $ | 27 | $ | 106 | $ | 33 | $ | 53 | $ | 3 | $ | 9 | ||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net increase (decrease) | $ | 112 | $ | 30 | $ | (73 | ) | $ | (17 | ) | $ | 11 | $ | 17 | $ | 4 | ||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax expense | $ | (10 | ) | — | (2 | ) | — | — | — | — | ||||||||||||||||||
Actuarial losses arising during the year | 29 | — | — | — | — | — | — | |||||||||||||||||||||
Prior year service credit arising during the year | — | — | — | — | — | — | — | |||||||||||||||||||||
Amortization of prior year actuarial losses | (9 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Reclassification of actuarial losses to regulatory assets | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | 9 | $ | — | $ | (2 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net decrease | $ | (788 | ) | $ | (205 | ) | $ | (253 | ) | $ | (109 | ) | $ | (146 | ) | $ | (96 | ) | $ | (99 | ) | |||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 18 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial gains arising during the year | (33 | ) | — | (2 | ) | — | — | — | — | |||||||||||||||||||
Prior year service credit arising during the year | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Amortization of prior year actuarial losses | (15 | ) | — | (3 | ) | — | — | — | — | |||||||||||||||||||
Reclassification of actuarial losses to regulatory assets | 3 | — | — | — | — | — | — | |||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | (28 | ) | $ | — | $ | (5 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Reconciliation of Funded Status to Net Amount Recognized | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | $ | 7,510 | $ | 1,875 | $ | 2,739 | $ | 1,172 | $ | 1,233 | $ | 442 | $ | 632 | ||||||||||||||
Service cost | 135 | 41 | 40 | 21 | 20 | 4 | 9 | |||||||||||||||||||||
Interest cost | 344 | 85 | 112 | 54 | 57 | 20 | 29 | |||||||||||||||||||||
Actuarial loss(a) | 618 | 132 | 211 | 98 | 105 | 41 | 41 | |||||||||||||||||||||
Transfers | — | 37 | (375 | ) | (61 | ) | (9 | ) | (6 | ) | — | |||||||||||||||||
Plan amendments | (4 | ) | (1 | ) | — | — | — | (1 | ) | — | ||||||||||||||||||
Benefits paid | (496 | ) | (116 | ) | (170 | ) | (97 | ) | (71 | ) | (31 | ) | (38 | ) | ||||||||||||||
Obligation at measurement date | $ | 8,107 | $ | 2,053 | $ | 2,557 | $ | 1,187 | $ | 1,335 | $ | 469 | $ | 673 | ||||||||||||||
Accumulated Benefit Obligation at measurement date | $ | 7,966 | $ | 2,052 | $ | 2,519 | $ | 1,187 | $ | 1,297 | $ | 459 | $ | 645 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | $ | 8,142 | $ | 2,162 | $ | 2,944 | $ | 1,330 | $ | 1,299 | $ | 448 | $ | 654 | ||||||||||||||
Actual return on plan assets | 852 | 217 | 300 | 149 | 144 | 45 | 65 | |||||||||||||||||||||
Benefits paid | (496 | ) | (116 | ) | (170 | ) | (97 | ) | (71 | ) | (31 | ) | (38 | ) | ||||||||||||||
Transfers | — | 37 | (352 | ) | (61 | ) | (9 | ) | (6 | ) | — | |||||||||||||||||
Plan assets at measurement date | $ | 8,498 | $ | 2,300 | $ | 2,722 | $ | 1,321 | $ | 1,363 | $ | 456 | $ | 681 | ||||||||||||||
Funded status of plan | $ | 391 | $ | 247 | $ | 165 | $ | 134 | $ | 28 | $ | (13 | ) | $ | 8 | |||||||||||||
(a) | Includes an increase in benefit obligation of $180 million as a result of changes in Duke Energy's mortality assumptions. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | 8,030 | 2,028 | 2,868 | 1,264 | 1,309 | 527 | 684 | |||||||||||||||||||||
Service cost | 167 | 49 | 60 | 22 | 30 | 6 | 11 | |||||||||||||||||||||
Interest cost | 320 | 80 | 116 | 50 | 53 | 21 | 28 | |||||||||||||||||||||
Actuarial gains | (399 | ) | (73 | ) | (118 | ) | (26 | ) | (75 | ) | (71 | ) | (56 | ) | ||||||||||||||
Transfers | — | (26 | ) | (7 | ) | (45 | ) | (17 | ) | (2 | ) | (2 | ) | |||||||||||||||
Plan amendments | (41 | ) | (13 | ) | (19 | ) | (8 | ) | (7 | ) | — | — | ||||||||||||||||
Benefits paid | (567 | ) | (170 | ) | (161 | ) | (85 | ) | (60 | ) | (39 | ) | (33 | ) | ||||||||||||||
Obligation at measurement date | 7,510 | 1,875 | 2,739 | 1,172 | 1,233 | 442 | 632 | |||||||||||||||||||||
Accumulated Benefit Obligation at measurement date | 7,361 | 1,875 | 2,698 | 1,172 | 1,192 | 429 | 608 | |||||||||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | 7,754 | 2,151 | 2,647 | 1,289 | 1,150 | 446 | 627 | |||||||||||||||||||||
Actual return on plan assets | 705 | 207 | 215 | 108 | 93 | 43 | 62 | |||||||||||||||||||||
Benefits paid | (567 | ) | (170 | ) | (161 | ) | (85 | ) | (60 | ) | (39 | ) | (33 | ) | ||||||||||||||
Transfers | — | (26 | ) | (7 | ) | (45 | ) | (17 | ) | (2 | ) | (2 | ) | |||||||||||||||
Employer contributions | 250 | — | 250 | 63 | 133 | — | — | |||||||||||||||||||||
Plan assets at measurement date | $ | 8,142 | $ | 2,162 | $ | 2,944 | $ | 1,330 | $ | 1,299 | $ | 448 | $ | 654 | ||||||||||||||
Funded status of plan | $ | 632 | $ | 287 | $ | 205 | $ | 158 | $ | 66 | $ | 6 | $ | 22 | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheets | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Prefunded pension(a) | $ | 441 | $ | 247 | $ | 165 | $ | 134 | $ | 28 | $ | — | $ | 8 | ||||||||||||||
Non-current pension liability(b) | $ | 50 | $ | — | $ | — | $ | — | $ | — | $ | 13 | $ | — | ||||||||||||||
Net asset recognized | $ | 391 | $ | 247 | $ | 165 | $ | 134 | $ | 28 | $ | (13 | ) | $ | 8 | |||||||||||||
Regulatory assets | $ | 1,711 | $ | 407 | $ | 753 | $ | 346 | $ | 406 | $ | 65 | $ | 151 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | $ | (51 | ) | $ | — | $ | (11 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Prior service credit | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial loss | 140 | — | 21 | — | — | — | — | |||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive loss(c) | $ | 84 | $ | — | $ | 10 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Amounts to be recognized in net periodic pension expense in the next year | ||||||||||||||||||||||||||||
Unrecognized net actuarial loss | $ | 166 | $ | 39 | $ | 65 | $ | 34 | $ | 31 | $ | 6 | $ | 14 | ||||||||||||||
Unrecognized prior service credit | (15 | ) | (8 | ) | (3 | ) | (2 | ) | (1 | ) | — | — | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Prefunded pension(a) | $ | 632 | $ | 287 | $ | 230 | $ | 158 | $ | 66 | $ | 2 | $ | 75 | ||||||||||||||
Non-current pension liability(b) | $ | — | $ | — | $ | 25 | $ | — | $ | — | $ | (4 | ) | $ | 53 | |||||||||||||
Net asset recognized | $ | 632 | $ | 287 | $ | 205 | $ | 158 | $ | 66 | $ | 6 | $ | 22 | ||||||||||||||
Regulatory assets | $ | 1,599 | $ | 377 | $ | 826 | $ | 363 | $ | 395 | $ | 48 | $ | 147 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | $ | (41 | ) | $ | — | $ | (9 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Prior service credit | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial loss | 121 | — | 21 | — | — | — | — | |||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive loss(c) | $ | 75 | $ | — | $ | 12 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
(a) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(b) | Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(c) | Excludes accumulated other comprehensive income of $22 million and $16 million as of 2014 and 2013, respectively, net of tax, associated with a Brazilian retirement plan. | |||||||||||||||||||||||||||
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Ohio | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 702 | $ | 315 | ||||||||||||||||||||||||
Accumulated benefit obligation | 672 | 306 | ||||||||||||||||||||||||||
Fair value of plan assets | 652 | 302 | ||||||||||||||||||||||||||
As of December 31, 2013, none of the qualified pension plans had an accumulated benefit obligation in excess of plan assets. | ||||||||||||||||||||||||||||
Assumptions Used for Pension Benefits Accounting | ||||||||||||||||||||||||||||
The discount rate used to determine the current year pension obligation and following year’s pension expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected. | ||||||||||||||||||||||||||||
The average remaining service period of active covered employees is nine years for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana. | ||||||||||||||||||||||||||||
The following tables present the assumptions or range of assumptions used for pension benefit accounting. | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012(a) | ||||||||||||||||||||||||||
Benefit Obligations | ||||||||||||||||||||||||||||
Discount rate | 4.10% | 4.70% | 4.10% | |||||||||||||||||||||||||
Salary increase | 4 | % | - | 4.40% | 4 | % | - | 4.40% | 4 | % | - | 4.30% | ||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Discount rate | 4.70% | 4.10% | 4.6 | % | - | 5.10% | ||||||||||||||||||||||
Salary increase | 4 | % | - | 4.40% | 4 | % | - | 4.30% | 4 | % | - | 4.40% | ||||||||||||||||
Expected long-term rate of return on plan assets | 6.75% | 7.75% | 8 | % | - | 8.25% | ||||||||||||||||||||||
(a) | For Progress Energy plans, the assumptions used in 2012 to determine net periodic pension costs reflect remeasurement as of July 1, 2012, due to the merger between Duke Energy and Progress Energy. | |||||||||||||||||||||||||||
Expected Benefit Payments | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ending December 31, | ||||||||||||||||||||||||||||
2015 | $ | 584 | $ | 175 | $ | 150 | $ | 80 | $ | 67 | $ | 34 | $ | 45 | ||||||||||||||
2016 | 604 | 184 | 158 | 85 | 70 | 35 | 46 | |||||||||||||||||||||
2017 | 616 | 195 | 161 | 86 | 73 | 34 | 45 | |||||||||||||||||||||
2018 | 625 | 200 | 165 | 87 | 76 | 34 | 46 | |||||||||||||||||||||
2019 | 626 | 194 | 168 | 88 | 78 | 34 | 46 | |||||||||||||||||||||
2020 - 2024 | 3,107 | 924 | 868 | 437 | 420 | 168 | 229 | |||||||||||||||||||||
NON-QUALIFIED PENSION PLANS | ||||||||||||||||||||||||||||
Components of Net Periodic Pension Costs | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 3 | $ | — | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||||
Interest cost on projected benefit obligation | 14 | 1 | 5 | 1 | 2 | — | — | |||||||||||||||||||||
Amortization of actuarial loss | 3 | — | 2 | — | — | — | — | |||||||||||||||||||||
Amortization of prior service credit | (1 | ) | — | (1 | ) | — | — | — | — | |||||||||||||||||||
Net periodic pension costs | $ | 19 | $ | 1 | $ | 7 | $ | 2 | $ | 2 | $ | — | $ | — | ||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 3 | $ | — | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||||
Interest cost on projected benefit obligation | 13 | 1 | 7 | 1 | 1 | — | — | |||||||||||||||||||||
Amortization of actuarial loss | 5 | — | 3 | 1 | 1 | — | — | |||||||||||||||||||||
Amortization of prior service credit | (1 | ) | — | (1 | ) | — | — | — | — | |||||||||||||||||||
Net periodic pension costs | $ | 20 | $ | 1 | $ | 10 | $ | 3 | $ | 2 | $ | — | $ | — | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 2 | $ | — | $ | 2 | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||||
Interest cost on projected benefit obligation | 12 | 1 | 8 | 1 | 2 | — | — | |||||||||||||||||||||
Amortization of actuarial loss | 4 | — | 5 | 1 | — | — | — | |||||||||||||||||||||
Amortization of prior service cost (credit) | 1 | — | (1 | ) | — | — | — | — | ||||||||||||||||||||
Net periodic pension costs | $ | 19 | $ | 1 | $ | 14 | $ | 3 | $ | 2 | $ | — | $ | — | ||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net increase | $ | 44 | $ | 1 | $ | 14 | $ | 4 | $ | 19 | $ | 1 | $ | 2 | ||||||||||||||
Regulatory liabilities, net decrease | $ | (7 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 4 | $ | — | $ | 5 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial gains arising during the year | (9 | ) | — | (11 | ) | — | — | — | — | |||||||||||||||||||
Net amount recognized in accumulated other comprehensive loss (income) | $ | (5 | ) | $ | — | $ | (6 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net (decrease) increase | $ | (14 | ) | $ | 1 | $ | (16 | ) | $ | (4 | ) | $ | (3 | ) | $ | — | $ | (2 | ) | |||||||||
Regulatory liabilities, net increase | $ | 5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | — | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial losses (gains) arising during the year | 2 | — | (5 | ) | — | — | — | — | ||||||||||||||||||||
Prior year service credit arising during the year | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net amount recognized in accumulated other comprehensive loss (income) | $ | 1 | $ | — | $ | (4 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Reconciliation of Funded Status to Net Amount Recognized | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Service cost | 3 | — | 1 | 1 | — | — | — | |||||||||||||||||||||
Interest cost | 14 | 1 | 5 | 1 | 2 | — | — | |||||||||||||||||||||
Actuarial losses(a) | 43 | 2 | 11 | 2 | 20 | 1 | 1 | |||||||||||||||||||||
Settlements | — | — | — | — | — | — | — | |||||||||||||||||||||
Plan amendments | — | — | — | — | — | — | — | |||||||||||||||||||||
Transfers | — | — | (32 | ) | — | 4 | — | — | ||||||||||||||||||||
Benefits paid | (27 | ) | (2 | ) | (9 | ) | (3 | ) | (4 | ) | — | (1 | ) | |||||||||||||||
Obligation at measurement date | $ | 337 | $ | 16 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Accumulated Benefit Obligation at measurement date | $ | 333 | $ | 15 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | — | — | — | — | — | — | — | |||||||||||||||||||||
Benefits paid | (27 | ) | (2 | ) | (9 | ) | (3 | ) | (4 | ) | — | (1 | ) | |||||||||||||||
Employer contributions | 27 | 2 | 9 | 3 | 4 | — | 1 | |||||||||||||||||||||
Plan assets at measurement date | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
(a) | Includes an increase in benefit obligation of $21 million as a result of changes in Duke Energy's mortality assumptions. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | $ | 335 | $ | 16 | $ | 176 | $ | 38 | $ | 45 | $ | 4 | $ | 5 | ||||||||||||||
Service cost | 3 | — | 1 | 1 | — | — | — | |||||||||||||||||||||
Interest cost | 13 | 1 | 7 | 1 | 1 | — | — | |||||||||||||||||||||
Actuarial (gains) losses | (15 | ) | 1 | (11 | ) | (3 | ) | (3 | ) | (1 | ) | — | ||||||||||||||||
Settlements | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Plan amendments | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Transfers | — | — | (21 | ) | — | — | — | — | ||||||||||||||||||||
Benefits paid | (26 | ) | (3 | ) | (12 | ) | (3 | ) | (4 | ) | — | — | ||||||||||||||||
Obligation at measurement date | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Accumulated Benefit Obligation at measurement date | $ | 302 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | — | — | — | — | — | — | — | |||||||||||||||||||||
Benefits paid | (26 | ) | (3 | ) | (12 | ) | (3 | ) | (4 | ) | — | — | ||||||||||||||||
Employer contributions | 26 | 3 | 12 | 3 | 4 | — | — | |||||||||||||||||||||
Plan assets at measurement date | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheets | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current pension liability(a) | $ | 27 | $ | 2 | $ | 8 | $ | 3 | $ | 4 | $ | — | $ | — | ||||||||||||||
Non-current pension liability(b) | 310 | 14 | 108 | 32 | 57 | 4 | 5 | |||||||||||||||||||||
Total accrued pension liability | $ | 337 | $ | 16 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Regulatory assets | $ | 89 | $ | 5 | $ | 32 | $ | 7 | $ | 25 | $ | 1 | $ | 2 | ||||||||||||||
Regulatory liabilities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | 4 | — | $ | 2 | — | — | — | — | ||||||||||||||||||||
Prior service credit | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial gain | (8 | ) | — | (4 | ) | — | — | — | — | |||||||||||||||||||
Net amounts recognized in accumulated other comprehensive income | $ | (5 | ) | $ | — | $ | (2 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Amounts to be recognized in net periodic pension expense in the next year | ||||||||||||||||||||||||||||
Unrecognized net actuarial loss | $ | 6 | — | $ | 2 | $ | 1 | 2 | — | — | ||||||||||||||||||
Unrecognized prior service credit | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current pension liability(a) | $ | 30 | $ | 2 | $ | 11 | $ | 2 | $ | 3 | $ | — | $ | — | ||||||||||||||
Non-current pension liability(b) | 274 | 13 | 129 | 32 | 36 | 3 | 5 | |||||||||||||||||||||
Total accrued pension liability | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Regulatory assets | $ | 45 | $ | 4 | $ | 18 | $ | 3 | $ | 6 | $ | — | $ | — | ||||||||||||||
Regulatory liabilities | $ | 7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | $ | — | $ | — | $ | (3 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Prior service credit | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial loss | 1 | — | 7 | — | — | — | — | |||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive loss | $ | — | $ | — | $ | 4 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
(a) | Included in Other within Current Liabilities on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(b) | Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Projected benefit obligation | $ | 337 | $ | 16 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Accumulated benefit obligation | 333 | 15 | 116 | 35 | 61 | 4 | 5 | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Projected benefit obligation | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Accumulated benefit obligation | 302 | 15 | 140 | 34 | 39 | 3 | 5 | |||||||||||||||||||||
Assumptions Used for Pension Benefits Accounting | ||||||||||||||||||||||||||||
The discount rate used to determine the current year pension obligation and following year’s pension expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected. | ||||||||||||||||||||||||||||
The average remaining service period of active covered employees is 13 years for Duke Energy and Progress Energy, nine years for Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, 12 years for Duke Energy Progress and 17 years for Duke Energy Florida. | ||||||||||||||||||||||||||||
The following tables present the assumptions used for pension benefit accounting. | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012(a) | ||||||||||||||||||||||||||
Benefit Obligations | ||||||||||||||||||||||||||||
Discount rate | 4.1 | % | 4.7 | % | 4.10% | |||||||||||||||||||||||
Salary increase | 4.4 | % | 4.4 | % | 4.30% | |||||||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Discount rate | 4.7 | % | 4.1 | % | 4.6 | % | - | 5.10% | ||||||||||||||||||||
Salary increase | 4.4 | % | 4.3 | % | 4.40% | |||||||||||||||||||||||
(a) | For Progress Energy plans, the assumptions used in 2012 to determine net periodic pension costs reflect remeasurement as of July 1, 2012, due to the merger between Duke Energy and Progress Energy. | |||||||||||||||||||||||||||
Expected Benefit Payments | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ending December 31, | ||||||||||||||||||||||||||||
2015 | $ | 28 | $ | 2 | $ | 8 | $ | 3 | $ | 4 | $ | — | $ | — | ||||||||||||||
2016 | 27 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2017 | 27 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2018 | 24 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2019 | 24 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2020 - 2024 | 116 | 6 | 38 | 13 | 19 | 2 | 2 | |||||||||||||||||||||
Other Post-Retirement Benefit Plans | ||||||||||||||||||||||||||||
Duke Energy provides, and the Subsidiary Registrants participate in, some health care and life insurance benefits for retired employees on a contributory and non-contributory basis. Employees are eligible for these benefits if they have met age and service requirements at retirement, as defined in the plans. The health care benefits include medical, dental, and prescription drug coverage and are subject to certain limitations, such as deductibles and co-payments. | ||||||||||||||||||||||||||||
Duke Energy did not make any pre-funding contributions to its other post-retirement benefit plans during the years ended December 31, 2014, 2013 or 2012. | ||||||||||||||||||||||||||||
Components of Net Periodic Other Post-Retirement Benefit Costs | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 10 | $ | 2 | $ | 4 | $ | 1 | $ | 3 | $ | — | $ | 1 | ||||||||||||||
Interest cost on accumulated post-retirement benefit obligation | 49 | 12 | 22 | 11 | 12 | 2 | 5 | |||||||||||||||||||||
Expected return on plan assets | (13 | ) | (9 | ) | — | — | — | — | (1 | ) | ||||||||||||||||||
Amortization of actuarial loss (gain) | 39 | 3 | 42 | 31 | 10 | (2 | ) | — | ||||||||||||||||||||
Amortization of prior service credit | (125 | ) | (11 | ) | (95 | ) | (73 | ) | (21 | ) | — | — | ||||||||||||||||
Net periodic post-retirement benefit costs | $ | (40 | ) | $ | (3 | ) | $ | (27 | ) | $ | (30 | ) | $ | 4 | $ | — | $ | 5 | ||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 24 | $ | 2 | $ | 18 | $ | 9 | $ | 7 | $ | 1 | $ | 1 | ||||||||||||||
Interest cost on accumulated post-retirement benefit obligation | 68 | 13 | 41 | 22 | 16 | 2 | 5 | |||||||||||||||||||||
Expected return on plan assets | (14 | ) | (11 | ) | — | — | — | (1 | ) | (1 | ) | |||||||||||||||||
Amortization of actuarial loss (gain) | 52 | 3 | 57 | 34 | 16 | (1 | ) | 1 | ||||||||||||||||||||
Amortization of prior service credit | (41 | ) | (7 | ) | (30 | ) | (20 | ) | (6 | ) | (1 | ) | — | |||||||||||||||
Net periodic post-retirement benefit costs | $ | 89 | $ | — | $ | 86 | $ | 45 | $ | 33 | $ | — | $ | 6 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 16 | $ | 2 | $ | 17 | $ | 8 | $ | 7 | $ | 1 | $ | 1 | ||||||||||||||
Interest cost on accumulated post-retirement benefit obligation | 56 | 15 | 43 | 23 | 18 | 3 | 6 | |||||||||||||||||||||
Expected return on plan assets | (17 | ) | (10 | ) | (2 | ) | — | (2 | ) | (1 | ) | (1 | ) | |||||||||||||||
Amortization of actuarial loss (gain) | 14 | 3 | 35 | 20 | 12 | (2 | ) | — | ||||||||||||||||||||
Amortization of prior service credit | (8 | ) | (5 | ) | — | — | — | (1 | ) | — | ||||||||||||||||||
Amortization of net transition liability | 10 | 7 | 4 | — | 3 | — | — | |||||||||||||||||||||
Special termination benefit cost | 9 | 1 | 5 | 2 | 1 | — | — | |||||||||||||||||||||
Net periodic post-retirement benefit costs | $ | 80 | $ | 13 | $ | 102 | $ | 53 | $ | 39 | $ | — | $ | 6 | ||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net increase (decrease) | $ | 162 | $ | 34 | $ | 129 | $ | 97 | $ | (4 | ) | $ | — | $ | (7 | ) | ||||||||||||
Regulatory liabilities, net increase (decrease) | $ | 249 | $ | 76 | $ | 122 | $ | 61 | $ | 61 | $ | (2 | ) | $ | 14 | |||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial losses (gains) arising during the year | 1 | — | (2 | ) | — | — | — | — | ||||||||||||||||||||
Prior year service credit arising during the year | (6 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Amortization of prior year prior service credit | 2 | — | — | — | — | — | — | |||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | (2 | ) | $ | — | $ | (1 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net (decrease) increase | $ | (683 | ) | $ | (51 | ) | $ | (634 | ) | $ | (388 | ) | $ | (166 | ) | $ | — | $ | (6 | ) | ||||||||
Regulatory liabilities, net increase (decrease) | $ | 30 | $ | — | $ | — | $ | — | $ | — | $ | 3 | $ | 9 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 2 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial gains arising during the year | (4 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Prior year service credit arising during the year | (3 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Amortization of prior year actuarial loss | 1 | — | — | — | — | — | — | |||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | (4 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Accumulated post-retirement benefit obligation at prior measurement date | $ | 1,106 | $ | 265 | $ | 533 | $ | 233 | $ | 253 | $ | 42 | $ | 118 | ||||||||||||||
Service cost | 10 | 2 | 4 | 1 | 3 | — | 1 | |||||||||||||||||||||
Interest cost | 49 | 12 | 22 | 11 | 12 | 2 | 5 | |||||||||||||||||||||
Plan participants' contributions | 25 | 10 | 8 | 4 | 4 | — | 2 | |||||||||||||||||||||
Actuarial gains(a) | (87 | ) | (35 | ) | (19 | ) | (21 | ) | — | — | (20 | ) | ||||||||||||||||
Transfers | — | 1 | (48 | ) | (2 | ) | — | (1 | ) | — | ||||||||||||||||||
Plan amendments | (85 | ) | (4 | ) | (77 | ) | — | (78 | ) | (1 | ) | — | ||||||||||||||||
Benefits paid | (103 | ) | (31 | ) | (44 | ) | (19 | ) | (24 | ) | (3 | ) | (10 | ) | ||||||||||||||
Accrued retiree drug subsidy | 1 | — | — | — | — | — | — | |||||||||||||||||||||
Accumulated post-retirement benefit obligation at measurement date | $ | 916 | $ | 220 | $ | 379 | $ | 207 | $ | 170 | $ | 39 | $ | 96 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | $ | 214 | $ | 143 | — | — | — | $ | 8 | $ | 18 | |||||||||||||||||
Actual return on plan assets | 18 | 12 | — | — | — | — | 2 | |||||||||||||||||||||
Benefits paid | (103 | ) | (31 | ) | (44 | ) | (19 | ) | (24 | ) | (3 | ) | (10 | ) | ||||||||||||||
Transfers | — | (1 | ) | — | — | — | — | — | ||||||||||||||||||||
Employer contributions | 73 | 12 | 36 | 14 | 20 | 3 | 11 | |||||||||||||||||||||
Plan participants' contributions | 25 | 10 | 8 | 4 | 4 | — | 2 | |||||||||||||||||||||
Plan assets at measurement date | $ | 227 | $ | 145 | $ | — | $ | (1 | ) | $ | — | $ | 8 | $ | 23 | |||||||||||||
(a) | Includes an increase in benefit obligation of $7 million as a result of changes in Duke Energy's mortality assumptions. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Accumulated post-retirement benefit obligation at prior measurement date | $ | 1,794 | $ | 316 | $ | 1,128 | $ | 612 | $ | 413 | $ | 48 | $ | 136 | ||||||||||||||
Service cost | 24 | 2 | 18 | 9 | 7 | 1 | 1 | |||||||||||||||||||||
Interest cost | 68 | 13 | 41 | 22 | 16 | 2 | 5 | |||||||||||||||||||||
Plan participants' contributions | 47 | 15 | 14 | 6 | 7 | 3 | 3 | |||||||||||||||||||||
Actuarial gains | (227 | ) | (32 | ) | (156 | ) | (73 | ) | (70 | ) | (6 | ) | (12 | ) | ||||||||||||||
Transfers | — | — | (1 | ) | (8 | ) | — | — | — | |||||||||||||||||||
Plan amendments | (476 | ) | (16 | ) | (455 | ) | (311 | ) | (91 | ) | — | (3 | ) | |||||||||||||||
Benefits paid | (132 | ) | (36 | ) | (60 | ) | (26 | ) | (31 | ) | (6 | ) | (14 | ) | ||||||||||||||
Accrued retiree drug subsidy | 8 | 3 | 4 | 2 | 2 | — | 2 | |||||||||||||||||||||
Accumulated post-retirement benefit obligation at measurement date | $ | 1,106 | $ | 265 | $ | 533 | $ | 233 | $ | 253 | $ | 42 | $ | 118 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | $ | 198 | $ | 134 | $ | — | $ | — | $ | — | $ | 7 | $ | 17 | ||||||||||||||
Actual return on plan assets | 18 | 13 | — | — | — | 2 | 2 | |||||||||||||||||||||
Benefits paid | (132 | ) | (36 | ) | (60 | ) | (26 | ) | (31 | ) | (6 | ) | (14 | ) | ||||||||||||||
Transfers | — | (1 | ) | — | — | — | — | — | ||||||||||||||||||||
Employer contributions | 83 | 18 | 46 | 20 | 24 | 2 | 10 | |||||||||||||||||||||
Plan participants' contributions | 47 | 15 | 14 | 6 | 7 | 3 | 3 | |||||||||||||||||||||
Plan assets at measurement date | $ | 214 | $ | 143 | $ | — | $ | — | $ | — | $ | 8 | $ | 18 | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheets | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current post-retirement liability(a) | $ | 35 | $ | — | $ | 29 | $ | 16 | $ | 14 | $ | 2 | $ | — | ||||||||||||||
Non-current post-retirement liability(b) | 654 | 75 | 350 | 192 | 156 | 29 | 73 | |||||||||||||||||||||
Total accrued post-retirement liability | $ | 689 | $ | 75 | $ | 379 | $ | 208 | $ | 170 | $ | 31 | $ | 73 | ||||||||||||||
Regulatory assets | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 64 | ||||||||||||||
Regulatory liabilities | $ | 380 | $ | 76 | $ | 122 | $ | 61 | $ | 61 | $ | 19 | $ | 91 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax liability | $ | 5 | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Prior service credit | (9 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial gain | (5 | ) | — | (2 | ) | — | — | — | — | |||||||||||||||||||
Net amounts recognized in accumulated other comprehensive income | $ | (9 | ) | $ | — | $ | (1 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Amounts to be recognized in net periodic pension expense in the next year | ||||||||||||||||||||||||||||
Unrecognized net actuarial loss (gain) | $ | 16 | $ | (1 | ) | $ | 28 | $ | 18 | $ | 10 | $ | (2 | ) | $ | — | ||||||||||||
Unrecognized prior service credit | (140 | ) | (14 | ) | (103 | ) | (68 | ) | (35 | ) | — | — | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current post-retirement liability(a) | $ | 39 | $ | — | $ | 36 | $ | 17 | $ | 16 | $ | 2 | $ | — | ||||||||||||||
Non-current post-retirement liability(b) | 853 | 122 | 497 | 216 | 237 | 32 | 100 | |||||||||||||||||||||
Total accrued post-retirement liability | $ | 892 | $ | 122 | $ | 533 | $ | 233 | $ | 253 | $ | 34 | $ | 100 | ||||||||||||||
Regulatory assets | $ | (162 | ) | $ | (34 | ) | $ | (129 | ) | $ | (97 | ) | $ | 4 | $ | — | $ | 71 | ||||||||||
Regulatory liabilities | $ | 131 | $ | — | $ | — | $ | — | $ | — | $ | 21 | $ | 77 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax liability | $ | 4 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Prior service credit | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial gain | (6 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive income | $ | (7 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
(a) | Included in Other within Current Liabilities on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(b) | Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
Assumptions Used for Other Post-Retirement Benefits Accounting | ||||||||||||||||||||||||||||
The discount rate used to determine the current year other post-retirement benefits obligation and following year’s other post-retirement benefits expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected. | ||||||||||||||||||||||||||||
The following tables present the assumptions used for other post-retirement benefits accounting. | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012(a) | ||||||||||||||||||||||||||
Benefit Obligations | ||||||||||||||||||||||||||||
Discount rate | 4.1 | % | 4.7 | % | 4.1 | % | ||||||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Discount rate | 4.7 | % | 4.1 | % | 4.6 | % | - | 5.1 | % | |||||||||||||||||||
Expected long-term rate of return on plan assets | 6.75 | % | 7.75 | % | 5 | % | - | 8 | % | |||||||||||||||||||
Assumed tax rate | 35 | % | 35 | % | 35 | % | ||||||||||||||||||||||
(a) | For Progress Energy plans, the assumptions used in 2012 to determine net periodic post-retirement benefit costs reflect remeasurement as of July 1, 2012, due to the merger between Duke Energy and Progress Energy. | |||||||||||||||||||||||||||
Assumed Health Care Cost Trend Rate | ||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 6.75 | % | 8.5 | % | ||||||||||||||||||||||||
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 4.75 | % | 5 | % | ||||||||||||||||||||||||
Year that rate reaches ultimate trend | 2023 | 2021 | ||||||||||||||||||||||||||
Sensitivity to Changes in Assumed Health Care Cost Trend Rates | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
1-Percentage Point Increase | ||||||||||||||||||||||||||||
Effect on total service and interest costs | $ | 2 | $ | 1 | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | ||||||||||||||
Effect on post-retirement benefit obligation | 36 | 9 | 15 | 8 | 7 | 2 | 4 | |||||||||||||||||||||
1-Percentage Point Decrease | ||||||||||||||||||||||||||||
Effect on total service and interest costs | (2 | ) | (1 | ) | (1 | ) | — | (1 | ) | — | — | |||||||||||||||||
Effect on post-retirement benefit obligation | (31 | ) | (8 | ) | (13 | ) | (7 | ) | (6 | ) | (1 | ) | (3 | ) | ||||||||||||||
Expected Benefit Payments | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ending December 31, | ||||||||||||||||||||||||||||
2015 | $ | 77 | $ | 17 | $ | 30 | $ | 16 | $ | 14 | $ | 4 | $ | 10 | ||||||||||||||
2016 | 77 | 18 | 30 | 16 | 14 | 4 | 10 | |||||||||||||||||||||
2017 | 76 | 18 | 29 | 15 | 14 | 3 | 9 | |||||||||||||||||||||
2018 | 74 | 19 | 29 | 15 | 14 | 3 | 9 | |||||||||||||||||||||
2019 | 73 | 19 | 29 | 15 | 13 | 3 | 8 | |||||||||||||||||||||
2020 - 2024 | 332 | 84 | 132 | 70 | 61 | 15 | 35 | |||||||||||||||||||||
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 percent of the Duke Energy Master Retirement Trust assets were allocated to qualified pension plans and approximately 2 percent were allocated to other post-retirement plans, as of December 31, 2014 and 2013. The investment objective of the Duke Energy Master Retirement Trust is to achieve reasonable returns, subject to a prudent level of portfolio risk, for the purpose of enhancing the security of benefits for plan participants. | ||||||||||||||||||||||||||||
The asset allocation targets were set after considering the investment objective and the risk profile. Equity securities are held for their higher expected return. Debt securities are primarily held to hedge qualified pension plan liability. Hedge funds, real estate and other global securities are held for diversification. Investments within asset classes are to be diversified to achieve broad market participation and reduce the impact of individual managers or investments. | ||||||||||||||||||||||||||||
In 2013, Duke Energy adopted a de-risking investment strategy for the Duke Energy Master Retirement Trust. As the funded status of the qualified pension plans increases, the targeted allocation to return seeking assets will be reduced and the targeted allocation to fixed-income assets will be increased to better manage Duke Energy’s qualified pension liability and reduced funded status volatility. Duke Energy regularly reviews its actual asset allocation and periodically rebalances its investments to the targeted allocation when considered appropriate. | ||||||||||||||||||||||||||||
The Duke Energy Retirement Master 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 Retirement Master Trust to earn additional income. Securities lending involves the loaning of securities to approved parties. In return for the loaned securities, the Duke Energy Retirement Master Trust receives collateral in the form of cash as a safeguard against possible default of any borrower on the return of the loan under terms that permit the Duke Energy Retirement Master Trust to sell the securities. The Master Trust mitigates credit risk associated with securities lending arrangements by monitoring the fair value of the securities loaned, with additional collateral obtained or refunded as necessary. The fair value of securities on loan was approximately $383 million and $43 million at December 31, 2014 and 2013, respectively. Cash obtained as collateral exceeded the fair value of the securities loaned at December 31, 2014 and 2013, respectively. Securities lending income earned by the Master Trust was immaterial for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||
Qualified pension and other post-retirement benefits for the Subsidiary Registrants are derived from the Duke Energy Master Retirement Trust, as such, each are allocated their proportionate share of the assets discussed below. | ||||||||||||||||||||||||||||
The following table includes the target asset allocations by asset class at December 31, 2014 and the actual asset allocations for the Duke Energy Master Retirement Trust. | ||||||||||||||||||||||||||||
Actual Allocation at December 31, | ||||||||||||||||||||||||||||
Target Allocation | 2014 | 2013 | ||||||||||||||||||||||||||
U.S. equity securities | 10 | % | 10 | % | 10 | % | ||||||||||||||||||||||
Non-U.S. equity securities | 8 | % | 8 | % | 8 | % | ||||||||||||||||||||||
Global equity securities | 10 | % | 10 | % | 10 | % | ||||||||||||||||||||||
Global private equity securities | 3 | % | 3 | % | 3 | % | ||||||||||||||||||||||
Debt securities | 63 | % | 63 | % | 63 | % | ||||||||||||||||||||||
Hedge funds | 2 | % | 3 | % | 3 | % | ||||||||||||||||||||||
Real estate and cash | 2 | % | 1 | % | 1 | % | ||||||||||||||||||||||
Other global securities | 2 | % | 2 | % | 2 | % | ||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||||
VEBA I | ||||||||||||||||||||||||||||
Duke Energy also invests other post-retirement assets in the Duke Energy Corporation Employee Benefits Trust (VEBA I). The investment objective of VEBA I is to achieve sufficient returns, subject to a prudent level of portfolio risk, for the purpose of promoting the security of plan benefits for participants. VEBA I is passively managed. | ||||||||||||||||||||||||||||
The following table presents target and actual asset allocations for VEBA I at December 31, 2014. | ||||||||||||||||||||||||||||
Actual Allocation at December 31, | ||||||||||||||||||||||||||||
Target Allocation | 2014 | 2013 | ||||||||||||||||||||||||||
U.S. equity securities | 30 | % | 29 | % | 29 | % | ||||||||||||||||||||||
Debt securities | 45 | % | 28 | % | 29 | % | ||||||||||||||||||||||
Cash | 25 | % | 43 | % | 42 | % | ||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||||
Duke Energy classifies recurring and non-recurring fair value measurements based on the fair value hierarchy as discussed in Note 16. | ||||||||||||||||||||||||||||
Valuation methods of the primary fair value measurements disclosed above are as follows: | ||||||||||||||||||||||||||||
Investments in equity securities | ||||||||||||||||||||||||||||
Investments in equity securities, other than those accounted for as equity and cost method investments, are typically valued at the closing price in the principal active market as of the last business day of the reporting period. Principal active markets for equity prices include published exchanges such as NASDAQ and NYSE. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. Prices have not been adjusted to reflect after-hours market activity. The majority of investments in equity securities are valued using Level 1 measurements. When (i) the Duke Energy Registrants lack the ability to redeem investments valued on a net asset value per share basis in the near future or (ii) net asset value per share is not available at the measurement date, the fair value measurement of the investment is categorized as Level 3. | ||||||||||||||||||||||||||||
Investments in debt securities | ||||||||||||||||||||||||||||
Most debt investments are valued based on a calculation using 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. Most debt valuations are Level 2 measurements. If the market for a particular fixed income security is relatively inactive or illiquid, the measurement is Level 3. U.S. Treasury debt is typically Level 2. | ||||||||||||||||||||||||||||
Investments in short-term investment funds | ||||||||||||||||||||||||||||
Investments in short-term investment funds are valued at the net asset value of units held at year end. Investments in short-term investment funds with published prices are valued as Level 1. Investments in short-term investment funds with unpublished prices are valued as Level 2. | ||||||||||||||||||||||||||||
Investments in real estate limited partnerships | ||||||||||||||||||||||||||||
Investments in real estate limited partnerships are valued by the trustee at each valuation date (monthly). As part of the trustee’s valuation process, properties are externally appraised generally on an annual basis, conducted by reputable, independent appraisal firms, and signed by appraisers that are members of the Appraisal Institute, with the professional designation MAI. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three valuation techniques that can be used to value investments in real estate assets: the market, income or cost approach. The appropriateness of each valuation technique depends on the type of asset or business being valued. In addition, the trustee may cause additional appraisals to be performed as warranted by specific asset or market conditions. Property valuations and the salient valuation-sensitive assumptions of each direct investment property are reviewed by the trustee quarterly and values are adjusted if there has been a significant change in circumstances related to the investment property since the last valuation. Value adjustments for interim capital expenditures are only recognized to the extent that the valuation process acknowledges a corresponding increase in fair value. An independent firm is hired to review and approve quarterly direct real estate valuations. Key inputs and assumptions used to determine fair value includes among others, rental revenue and expense amounts and related revenue and expense growth rates, terminal capitalization rates and discount rates. Development investments are valued using cost incurred to date as a primary input until substantive progress is achieved in terms of mitigating construction and leasing risk at which point a discounted cash flow approach is more heavily weighted. Key inputs and assumptions in addition to those noted above used to determine the fair value of development investments include construction costs, and the status of construction completion and leasing. Investments in real estate limited partnerships are valued as Level 3. | ||||||||||||||||||||||||||||
Duke Energy Master Retirement Trust | ||||||||||||||||||||||||||||
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, 2014 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Equity securities | $ | 2,346 | $ | 1,625 | $ | 721 | $ | — | ||||||||||||||||||||
Corporate debt securities | 4,349 | — | 4,348 | 1 | ||||||||||||||||||||||||
Short-term investment funds | 333 | 171 | 162 | — | ||||||||||||||||||||||||
Partnership interests | 298 | — | — | 298 | ||||||||||||||||||||||||
Hedge funds | 146 | — | 146 | — | ||||||||||||||||||||||||
Real estate limited partnerships | 104 | — | — | 104 | ||||||||||||||||||||||||
U.S. government securities | 917 | — | 916 | 1 | ||||||||||||||||||||||||
Guaranteed investment contracts | 32 | — | — | 32 | ||||||||||||||||||||||||
Governments bonds - foreign | 44 | — | 44 | — | ||||||||||||||||||||||||
Cash | 30 | 30 | — | — | ||||||||||||||||||||||||
Government and commercial mortgage backed securities | 9 | — | 9 | — | ||||||||||||||||||||||||
Net pending transactions and other investments | 10 | (10 | ) | 20 | — | |||||||||||||||||||||||
Total assets(a) | $ | 8,618 | $ | 1,816 | $ | 6,366 | $ | 436 | ||||||||||||||||||||
(a) | Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent, 31 percent, 15 percent, 16 percent, 5 percent and 8 percent, respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2014. Accordingly, all Level 1, 2 and 3 amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Equity securities | $ | 2,877 | $ | 1,801 | $ | 1,022 | $ | 54 | ||||||||||||||||||||
Corporate debt securities | 2,604 | — | 2,601 | 3 | ||||||||||||||||||||||||
Short-term investment funds | 1,158 | 254 | 904 | — | ||||||||||||||||||||||||
Partnership interests | 307 | — | — | 307 | ||||||||||||||||||||||||
Hedge funds | 164 | — | 111 | 53 | ||||||||||||||||||||||||
Real estate limited partnerships | 95 | — | — | 95 | ||||||||||||||||||||||||
U.S. government securities | 927 | — | 927 | — | ||||||||||||||||||||||||
Guarantees investment contracts | 33 | — | — | 33 | ||||||||||||||||||||||||
Governments bonds - foreign | 19 | — | 18 | 1 | ||||||||||||||||||||||||
Cash | 58 | 58 | — | — | ||||||||||||||||||||||||
Asset backed securities | 7 | — | 7 | — | ||||||||||||||||||||||||
Net pending transactions and other investments | 12 | 7 | 5 | — | ||||||||||||||||||||||||
Total assets(a) | $ | 8,261 | $ | 2,120 | $ | 5,595 | $ | 546 | ||||||||||||||||||||
(a) | Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent, 35 percent, 16 percent, 16 percent, 5 percent and 8 percent, respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2013. Accordingly, all Level 1, 2 and 3 amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. | |||||||||||||||||||||||||||
The following table provides a reconciliation of beginning and ending balances of assets of master trusts measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3). | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | ||||||||||||||||||||||||||
Balance at January 1 | $ | 546 | $ | 352 | ||||||||||||||||||||||||
Combination of trust assets(a) | — | 288 | ||||||||||||||||||||||||||
Purchases, sales, issuances and settlements | ||||||||||||||||||||||||||||
Purchases | 17 | 25 | ||||||||||||||||||||||||||
Sales | (164 | ) | (152 | ) | ||||||||||||||||||||||||
Total gains (losses) and other, net | 37 | 33 | ||||||||||||||||||||||||||
Balance at December 31 | $ | 436 | $ | 546 | ||||||||||||||||||||||||
(a) | As of January 1, 2013, assets previously held in the Progress Energy Master Retirement Trust were transferred into the Duke Energy Master Retirement Trust. | |||||||||||||||||||||||||||
VEBA I | ||||||||||||||||||||||||||||
The following tables provide the fair value measurement amounts for VEBA I other post-retirement assets. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 21 | — | $ | 21 | — | ||||||||||||||||||||||
Equity securities | 14 | — | 14 | — | ||||||||||||||||||||||||
Debt securities | 13 | — | 13 | — | ||||||||||||||||||||||||
Total assets | $ | 48 | — | $ | 48 | — | ||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 21 | — | $ | 21 | — | ||||||||||||||||||||||
Equity securities | 15 | — | 15 | — | ||||||||||||||||||||||||
Debt securities | 15 | — | 15 | — | ||||||||||||||||||||||||
Total assets | $ | 51 | — | $ | 51 | — | ||||||||||||||||||||||
EMPLOYEE SAVINGS PLANS | ||||||||||||||||||||||||||||
Duke Energy sponsors, and the Subsidiary Registrants participate in, employee savings plans that cover substantially all U.S. employees. Most employees participate in a matching contribution formula where Duke Energy provides a matching contribution generally equal to 100 percent of employee before-tax and Roth 401(k) contributions, and, as applicable, after-tax contributions, of up to 6 percent of eligible pay per pay period. Dividends on Duke Energy shares held by the savings plans are charged to retained earnings when declared and shares held in the plans are considered outstanding in the calculation of basic and diluted earnings per share. | ||||||||||||||||||||||||||||
As of January 1, 2014, for new and rehired non-union and certain unionized employees who are not eligible to participate in Duke Energy’s defined benefit plans, an additional employer contribution of 4 percent of eligible pay per pay period, which is subject to a three-year vesting schedule, is provided to the employee’s savings plan account. | ||||||||||||||||||||||||||||
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants. | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ended December 31, | ||||||||||||||||||||||||||||
2014(a) | $ | 143 | $ | 47 | $ | 43 | $ | 30 | $ | 14 | $ | 3 | $ | 7 | ||||||||||||||
2013 | 134 | 45 | 45 | 25 | 14 | 3 | 7 | |||||||||||||||||||||
2012 | 107 | 37 | 45 | 24 | 15 | 4 | 6 | |||||||||||||||||||||
(a) | For 2014, amounts include the additional employer contribution of 4 percent of eligible pay per pay period for employees not eligible to participate in a defined benefit plan. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||
Income Taxes | INCOME TAXES | |||||||||||||||||||||
Income Tax Expense | ||||||||||||||||||||||
Components of Income Tax Expense | ||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Current income taxes | ||||||||||||||||||||||
Federal | $ | — | $ | 161 | $ | (466 | ) | $ | (184 | ) | $ | (53 | ) | $ | (73 | ) | $ | (112 | ) | |||
State | 56 | 51 | (8 | ) | 14 | 1 | 3 | 1 | ||||||||||||||
Foreign | 144 | — | — | — | — | — | — | |||||||||||||||
Total current income taxes | 200 | 212 | (474 | ) | (170 | ) | (52 | ) | (70 | ) | (111 | ) | ||||||||||
Deferred income taxes | ||||||||||||||||||||||
Federal | 1,517 | 407 | 938 | 436 | 350 | 113 | 294 | |||||||||||||||
State | 35 | (25 | ) | 84 | 25 | 52 | 1 | 15 | ||||||||||||||
Foreign | (67 | ) | — | — | — | — | — | — | ||||||||||||||
Total deferred income taxes(a)(b) | 1,485 | 382 | 1,022 | 461 | 402 | 114 | 309 | |||||||||||||||
Investment tax credit amortization | (16 | ) | (6 | ) | (8 | ) | (6 | ) | (1 | ) | (1 | ) | (1 | ) | ||||||||
Income tax expense from continuing operations | 1,669 | 588 | 540 | 285 | 349 | 43 | 197 | |||||||||||||||
Tax benefit from discontinued operations | (295 | ) | — | (4 | ) | — | — | (300 | ) | — | ||||||||||||
Total income tax expense included in Consolidated Statements of Operations | $ | 1,374 | $ | 588 | $ | 536 | $ | 285 | $ | 349 | $ | (257 | ) | $ | 197 | |||||||
(a) | There were no benefits of net operating loss (NOL) carryforwards. | |||||||||||||||||||||
(b) | Includes utilization of NOL and tax credit carryforwards of $1,544 million at Duke Energy, $345 million at Duke Energy Carolinas, $530 million at Progress Energy, $291 million at Duke Energy Progress, $64 million at Duke Energy Florida, $56 million at Duke Energy Ohio and $141 million at Duke Energy Indiana. | |||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Current income taxes | ||||||||||||||||||||||
Federal | $ | (141 | ) | $ | 49 | $ | (221 | ) | $ | (70 | ) | $ | (143 | ) | $ | (24 | ) | $ | (88 | ) | ||
State | (40 | ) | 11 | (37 | ) | (10 | ) | (13 | ) | (4 | ) | 7 | ||||||||||
Foreign | 151 | — | — | — | — | — | — | |||||||||||||||
Total current income taxes | (30 | ) | 60 | (258 | ) | (80 | ) | (156 | ) | (28 | ) | (81 | ) | |||||||||
Deferred income taxes | ||||||||||||||||||||||
Federal | 1,092 | 464 | 555 | 316 | 326 | 65 | 276 | |||||||||||||||
State | 144 | 75 | 84 | 59 | 44 | 6 | 29 | |||||||||||||||
Foreign | 14 | — | — | — | — | — | — | |||||||||||||||
Total deferred income taxes(a) | 1,250 | 539 | 639 | 375 | 370 | 71 | 305 | |||||||||||||||
Investment tax credit amortization | (15 | ) | (5 | ) | (8 | ) | (7 | ) | (1 | ) | — | (1 | ) | |||||||||
Income tax expense from continuing operations | 1,205 | 594 | 373 | 288 | 213 | 43 | 223 | |||||||||||||||
Tax expense from discontinued operations | 29 | — | (26 | ) | — | — | 32 | — | ||||||||||||||
Total income tax expense included in Consolidated Statements of Operations | $ | 1,234 | $ | 594 | $ | 347 | $ | 288 | $ | 213 | $ | 75 | $ | 223 | ||||||||
(a) | Includes benefits of NOL carryforwards of $808 million at Duke Energy, $458 million at Progress Energy, $64 million at Duke Energy Progress, $301 million at Duke Energy Florida and $179 million at Duke Energy Indiana. | |||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Current income taxes | ||||||||||||||||||||||
Federal | $ | (108 | ) | $ | (1 | ) | $ | (88 | ) | $ | (48 | ) | $ | 6 | $ | (8 | ) | $ | (27 | ) | ||
State | 29 | (25 | ) | 2 | (6 | ) | — | 5 | 27 | |||||||||||||
Foreign | 133 | — | — | — | — | — | — | |||||||||||||||
Total current income taxes | 54 | (26 | ) | (86 | ) | (54 | ) | 6 | (3 | ) | — | |||||||||||
Deferred income taxes | ||||||||||||||||||||||
Federal | 491 | 408 | 226 | 162 | 121 | 40 | (47 | ) | ||||||||||||||
State | 71 | 77 | 40 | 9 | 21 | (2 | ) | (25 | ) | |||||||||||||
Foreign | 20 | — | — | — | — | — | — | |||||||||||||||
Total deferred income taxes(a) | 582 | 485 | 266 | 171 | 142 | 38 | (72 | ) | ||||||||||||||
Investment tax credit amortization | (13 | ) | (6 | ) | (8 | ) | (7 | ) | (1 | ) | (2 | ) | (1 | ) | ||||||||
Income tax expense (benefit) from continuing operations | 623 | 453 | 172 | 110 | 147 | 33 | (73 | ) | ||||||||||||||
Tax benefit from discontinued operations | 107 | — | 29 | — | — | 65 | — | |||||||||||||||
Total income tax expense (benefit) included in Consolidated Statements of Operations | $ | 730 | $ | 453 | $ | 201 | $ | 110 | $ | 147 | $ | 98 | $ | (73 | ) | |||||||
(a) | Includes benefits of NOL carryforwards of $1,062 million at Duke Energy, $245 million at Duke Energy Carolinas, $357 million at Progress Energy, $257 million at Duke Energy Progress, $25 million at Duke Energy Florida, $34 million at Duke Energy Ohio and $205 million at Duke Energy Indiana. | |||||||||||||||||||||
Duke Energy Income from Continuing Operations before Income Taxes | ||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||
Domestic | $ | 3,600 | $ | 3,183 | $ | 1,600 | ||||||||||||||||
Foreign | 534 | 612 | 634 | |||||||||||||||||||
Income from continuing operations before income taxes | $ | 4,134 | $ | 3,795 | $ | 2,234 | ||||||||||||||||
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, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Income tax expense, computed at the statutory rate of 35 percent | $ | 1,447 | $ | 581 | $ | 497 | $ | 263 | $ | 314 | $ | 39 | $ | 195 | ||||||||
State income tax, net of federal income tax effect | 59 | 17 | 49 | 25 | 34 | 3 | 10 | |||||||||||||||
Tax differential on foreign earnings(a) | (110 | ) | — | — | — | — | — | — | ||||||||||||||
AFUDC equity income | (47 | ) | (32 | ) | (9 | ) | (9 | ) | — | (1 | ) | (5 | ) | |||||||||
Renewable energy production tax credits | (67 | ) | — | — | — | — | — | — | ||||||||||||||
International tax dividend | 373 | — | — | — | — | — | — | |||||||||||||||
Other items, net | 14 | 22 | 3 | 6 | 1 | 2 | (3 | ) | ||||||||||||||
Income tax expense from continuing operations | $ | 1,669 | $ | 588 | $ | 540 | $ | 285 | $ | 349 | $ | 43 | $ | 197 | ||||||||
Effective tax rate | 40.4 | % | 35.4 | % | 38 | % | 37.9 | % | 38.9 | % | 38.9 | % | 35.5 | % | ||||||||
(a) | Includes a $57 million benefit as a result of the merger of two Chilean subsidiaries and a change in income tax rates in various countries primarily relating to Peru. | |||||||||||||||||||||
During the fourth quarter of 2014, Duke Energy declared a taxable dividend of foreign earnings in the form of notes payable that will result in the repatriation of approximately $2.7 billion of cash held and expected to be generated by International Energy over a period of up to 8 years. As a result of the decision to repatriate all cumulative historical undistributed foreign earnings, during the fourth quarter of 2014, Duke Energy recorded U.S. income tax expense of approximately $373 million. Duke Energy’s intention is to indefinitely reinvest prospective undistributed earnings generated by Duke Energy's foreign subsidiaries, and accordingly U.S. deferred taxes will not be provided for those earnings. | ||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Income tax expense, computed at the statutory rate of 35 percent | $ | 1,328 | $ | 549 | $ | 361 | $ | 276 | $ | 188 | $ | 39 | $ | 203 | ||||||||
State income tax, net of federal income tax effect | 66 | 56 | 31 | 31 | 20 | 2 | 23 | |||||||||||||||
Tax differential on foreign earnings | (49 | ) | — | — | — | — | — | — | ||||||||||||||
AFUDC equity income | (55 | ) | (32 | ) | (18 | ) | (15 | ) | (3 | ) | — | (5 | ) | |||||||||
Renewable energy production tax credits | (62 | ) | — | — | — | — | — | — | ||||||||||||||
Other items, net | (23 | ) | 21 | (1 | ) | (4 | ) | 8 | 2 | 2 | ||||||||||||
Income tax expense (benefit) from continuing operations | $ | 1,205 | $ | 594 | $ | 373 | $ | 288 | $ | 213 | $ | 43 | $ | 223 | ||||||||
Effective tax rate | 31.8 | % | 37.8 | % | 36.2 | % | 36.5 | % | 39.6 | % | 39.1 | % | 38.4 | % | ||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Income tax expense, computed at the statutory rate of 35 percent | $ | 782 | $ | 461 | $ | 185 | $ | 134 | $ | 145 | $ | 27 | $ | (43 | ) | |||||||
State income tax, net of federal income tax effect | 65 | 34 | 33 | 1 | 14 | 2 | 1 | |||||||||||||||
Tax differential on foreign earnings | (69 | ) | — | — | — | — | — | — | ||||||||||||||
AFUDC equity income | (101 | ) | (54 | ) | (37 | ) | (24 | ) | (13 | ) | (2 | ) | (26 | ) | ||||||||
Renewable energy production tax credits | (25 | ) | — | — | — | — | — | — | ||||||||||||||
Other items, net | (29 | ) | 12 | (9 | ) | (1 | ) | 1 | 6 | (5 | ) | |||||||||||
Income tax expense from continuing operations | $ | 623 | $ | 453 | $ | 172 | $ | 110 | $ | 147 | $ | 33 | $ | (73 | ) | |||||||
Effective tax rate | 27.9 | % | 34.3 | % | 32.7 | % | 28.7 | % | 35.7 | % | 42.9 | % | 59.5 | % | ||||||||
Valuation allowances have been established for certain foreign and state NOL carryforwards and state income tax credits that reduce deferred tax assets to an amount that will be realized on a more-likely-than-not basis. The net change in the total valuation allowance is included in Tax differential on foreign earnings and State income tax, net of federal income tax effect in the above tables. | ||||||||||||||||||||||
DEFERRED TAXES | ||||||||||||||||||||||
Net Deferred Income Tax Liability Components | ||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Deferred credits and other liabilities | $ | 188 | $ | 53 | $ | 108 | $ | 28 | $ | 78 | $ | (8 | ) | $ | 12 | |||||||
Capital lease obligations | 63 | 10 | — | — | — | — | 2 | |||||||||||||||
Pension, postretirement and other employee benefits | 546 | 4 | 188 | 96 | 93 | 17 | 43 | |||||||||||||||
Progress Energy merger purchase accounting adjustments(a) | 1,124 | — | — | — | — | — | — | |||||||||||||||
Tax credits and NOL carryforwards | 3,540 | 157 | 980 | 91 | 252 | 38 | 260 | |||||||||||||||
Investments and other assets | — | — | — | — | — | 14 | — | |||||||||||||||
Other | — | 12 | — | 55 | — | 35 | 11 | |||||||||||||||
Valuation allowance | (184 | ) | — | (13 | ) | (1 | ) | — | — | — | ||||||||||||
Total deferred income tax assets | 5,277 | 236 | 1,263 | 269 | 423 | 96 | 328 | |||||||||||||||
Investments and other assets | (1,625 | ) | (1,051 | ) | (427 | ) | (232 | ) | (245 | ) | — | (4 | ) | |||||||||
Accelerated depreciation rates | (11,715 | ) | (4,046 | ) | (3,284 | ) | (2,030 | ) | (1,252 | ) | (1,660 | ) | (1,603 | ) | ||||||||
Regulatory assets and deferred debits | (3,694 | ) | (953 | ) | (1,602 | ) | (809 | ) | (792 | ) | (141 | ) | (106 | ) | ||||||||
Other | (44 | ) | — | (151 | ) | — | (246 | ) | — | — | ||||||||||||
Total deferred income tax liabilities | (17,078 | ) | (6,050 | ) | (5,464 | ) | (3,071 | ) | (2,535 | ) | (1,801 | ) | (1,713 | ) | ||||||||
Net deferred income tax liabilities | $ | (11,801 | ) | $ | (5,814 | ) | $ | (4,201 | ) | $ | (2,802 | ) | $ | (2,112 | ) | $ | (1,705 | ) | $ | (1,385 | ) | |
(a) | Primarily related to capital lease obligations and debt fair value adjustments. | |||||||||||||||||||||
On July 23, 2013, HB 998 was signed into law. HB 998 reduces the North Carolina corporate income tax rate from a statutory 6.9 percent to 6.0 percent in January 2014 with a further reduction to 5.0 percent in January 2015. Duke Energy recorded a net reduction of approximately $145 million to its North Carolina deferred tax liability in the third quarter of 2013. The significant majority of this deferred tax liability reduction was offset by recording a regulatory liability pending NCUC determination of the disposition of the amounts related to Duke Energy Carolinas and Duke Energy Progress. The impact of HB 998 did not have a significant impact on the financial position, results of operation, or cash flows of Duke Energy, Duke Energy Carolinas, Progress Energy or Duke Energy Progress. | ||||||||||||||||||||||
The following table presents the expiration of tax credits and NOL carryforwards. | ||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Amount | Expiration Year | ||||||||||||||||||||
Investment tax credits | $ | 581 | 2029 | — | 2034 | |||||||||||||||||
Alternative minimum tax credits | 1,093 | Indefinite | ||||||||||||||||||||
Federal NOL carryforwards | 749 | 2030 | — | 2033 | ||||||||||||||||||
State NOL carryforwards and credits(a) | 162 | 2015 | — | 2034 | ||||||||||||||||||
Foreign NOL carryforwards(b) | 117 | 2015 | — | 2033 | ||||||||||||||||||
Foreign Tax Credits | 838 | 2024 | ||||||||||||||||||||
Total tax credits and NOL carryforwards | $ | 3,540 | ||||||||||||||||||||
(a) | A valuation allowance of $79 million has been recorded on the state Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. | |||||||||||||||||||||
(b) | A valuation allowance of $105 million has been recorded on the foreign Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Deferred credits and other liabilities | $ | 245 | $ | 56 | $ | 136 | $ | 9 | $ | 96 | $ | (13 | ) | $ | 9 | |||||||
Capital lease obligations | 59 | 11 | — | — | — | — | (2 | ) | ||||||||||||||
Pension, postretirement and other employee benefits | 649 | 18 | 341 | 119 | 145 | 23 | 54 | |||||||||||||||
Progress Energy merger purchase accounting adjustments(a) | 1,184 | — | — | — | — | — | — | |||||||||||||||
Tax credits and NOL carryforwards | 4,307 | 488 | 1,965 | 396 | 365 | 165 | 521 | |||||||||||||||
Other | 265 | 15 | 116 | 39 | 43 | 20 | 14 | |||||||||||||||
Valuation allowance | (192 | ) | — | (40 | ) | (1 | ) | — | — | — | ||||||||||||
Total deferred income tax assets | 6,517 | 588 | 2,518 | 562 | 649 | 195 | 596 | |||||||||||||||
Investments and other assets | (1,396 | ) | (999 | ) | (209 | ) | (160 | ) | (49 | ) | (17 | ) | (7 | ) | ||||||||
Accelerated depreciation rates | (12,615 | ) | (4,400 | ) | (3,663 | ) | (2,528 | ) | (1,160 | ) | (1,937 | ) | (1,591 | ) | ||||||||
Regulatory assets and deferred debits | (3,185 | ) | (609 | ) | (1,389 | ) | (202 | ) | (1,159 | ) | (168 | ) | (117 | ) | ||||||||
Total deferred income tax liabilities | (17,196 | ) | (6,008 | ) | (5,261 | ) | (2,890 | ) | (2,368 | ) | (2,122 | ) | (1,715 | ) | ||||||||
Net deferred income tax liabilities | $ | (10,679 | ) | $ | (5,420 | ) | $ | (2,743 | ) | $ | (2,328 | ) | $ | (1,719 | ) | $ | (1,927 | ) | $ | (1,119 | ) | |
(a) | Primarily related to capital lease obligations and debt fair value adjustments. | |||||||||||||||||||||
Classification of Deferred Tax Assets (Liabilities) in the Consolidated Balance Sheets | ||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Current Assets: Other | $ | 1,593 | $ | 3 | $ | 558 | $ | 106 | $ | 340 | $ | 60 | $ | 206 | ||||||||
Investments and Other Assets: Other | 29 | — | — | — | — | — | — | |||||||||||||||
Current Liabilities: Other | — | (5 | ) | — | — | — | — | — | ||||||||||||||
Deferred Credits and Other Liabilities: Other | (13,423 | ) | (5,812 | ) | (4,759 | ) | (2,908 | ) | (2,452 | ) | (1,765 | ) | (1,591 | ) | ||||||||
Net deferred income tax liabilities | $ | (11,801 | ) | $ | (5,814 | ) | $ | (4,201 | ) | $ | (2,802 | ) | $ | (2,112 | ) | $ | (1,705 | ) | $ | (1,385 | ) | |
December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Current Assets: Other | $ | 1,373 | $ | 286 | $ | 540 | $ | 229 | $ | 110 | $ | 85 | $ | 52 | ||||||||
Investments and Other Assets: Other | 45 | — | — | — | — | — | — | |||||||||||||||
Deferred Credits and Other Liabilities: Other | (12,097 | ) | (5,706 | ) | (3,283 | ) | (2,557 | ) | (1,829 | ) | (2,012 | ) | (1,171 | ) | ||||||||
Net deferred income tax liabilities | $ | (10,679 | ) | $ | (5,420 | ) | $ | (2,743 | ) | $ | (2,328 | ) | $ | (1,719 | ) | $ | (1,927 | ) | $ | (1,119 | ) | |
UNRECOGNIZED TAX BENEFITS | ||||||||||||||||||||||
The following tables present changes to unrecognized tax benefits. | ||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | ||||||||||||||||
Energy | Energy | Energy | Energy | |||||||||||||||||||
Carolinas | Progress | Florida | Indiana | |||||||||||||||||||
Unrecognized tax benefits — January 1 | $ | 230 | $ | 171 | $ | 32 | $ | 22 | $ | 8 | $ | 1 | ||||||||||
Unrecognized tax benefits increases (decreases) | ||||||||||||||||||||||
Gross increases — tax positions in prior periods | — | — | 1 | 1 | — | — | ||||||||||||||||
Gross decreases — tax positions in prior periods | (2 | ) | — | — | — | — | — | |||||||||||||||
Decreases due to settlements | (15 | ) | (11 | ) | (1 | ) | — | — | — | |||||||||||||
Total changes | (17 | ) | (11 | ) | — | 1 | — | — | ||||||||||||||
Unrecognized tax benefits — December 31 | $ | 213 | $ | 160 | $ | 32 | $ | 23 | $ | 8 | $ | 1 | ||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Unrecognized tax benefits — January 1 | $ | 540 | $ | 271 | $ | 131 | $ | 67 | $ | 44 | $ | 36 | $ | 32 | ||||||||
Unrecognized tax benefits (decreases) increases | ||||||||||||||||||||||
Gross decreases — tax positions in prior periods | (231 | ) | (100 | ) | (86 | ) | (45 | ) | (37 | ) | (36 | ) | (31 | ) | ||||||||
Decreases due to settlements | (66 | ) | — | — | — | — | — | — | ||||||||||||||
Reduction due to lapse of statute of limitations | (13 | ) | — | (13 | ) | — | 1 | — | — | |||||||||||||
Total changes | (310 | ) | (100 | ) | (99 | ) | (45 | ) | (36 | ) | (36 | ) | (31 | ) | ||||||||
Unrecognized tax benefits — December 31 | $ | 230 | $ | 171 | $ | 32 | $ | 22 | $ | 8 | $ | — | $ | 1 | ||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Unrecognized tax benefits — January 1 | $ | 385 | $ | 260 | $ | 173 | $ | 73 | $ | 80 | $ | 32 | $ | 24 | ||||||||
Acquisitions | 128 | — | — | — | — | — | — | |||||||||||||||
Unrecognized tax benefits increases (decreases) | ||||||||||||||||||||||
Gross increases — tax positions in prior periods | 29 | 12 | 23 | 10 | 12 | 2 | 6 | |||||||||||||||
Gross decreases — tax positions in prior periods | (4 | ) | — | (72 | ) | (19 | ) | (52 | ) | — | — | |||||||||||
Gross increases — current period tax positions | 28 | 15 | 8 | 4 | 4 | 4 | 4 | |||||||||||||||
Gross decreases — current period tax positions | (9 | ) | (5 | ) | (1 | ) | (1 | ) | — | (2 | ) | (2 | ) | |||||||||
Decreases due to settlements | (13 | ) | (11 | ) | — | — | — | — | — | |||||||||||||
Reduction due to lapse of statute of limitations | (4 | ) | — | — | — | — | — | — | ||||||||||||||
Total changes | 155 | 11 | (42 | ) | (6 | ) | (36 | ) | 4 | 8 | ||||||||||||
Unrecognized tax benefits — December 31 | $ | 540 | $ | 271 | $ | 131 | $ | 67 | $ | 44 | $ | 36 | $ | 32 | ||||||||
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits. It is reasonably possible that Duke Energy and Progress Energy will reflect an approximate $28 million reduction, Duke Energy Progress will reflect an approximate $17 million reduction, and Duke Energy Florida will reflect an approximate $7 million reduction in unrecognized tax benefits within the next 12 months due to the expected lapse of the statute of limitations. All other Duke Energy Registrants do not anticipate a material increase or decrease in unrecognized tax benefits within the next 12 months. | ||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke | Duke | Progress Energy | Duke | Duke | Duke | ||||||||||||||||
Energy | Energy | Energy Progress | Energy Florida | Energy | ||||||||||||||||||
Carolinas | Indiana | |||||||||||||||||||||
Amount that if recognized, would affect the | $ | 121 | $ | 112 | $ | 3 | $ | 2 | $ | 2 | $ | 2 | ||||||||||
effective tax rate or regulatory liability(a) | ||||||||||||||||||||||
Amount that if recognized, would be recorded as a component | 8 | — | — | — | — | — | ||||||||||||||||
of discontinued operations | ||||||||||||||||||||||
(a) | Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana are unable to estimate the specific amounts that would affect the effective tax rate versus the regulatory liability. | |||||||||||||||||||||
OTHER TAX MATTERS | ||||||||||||||||||||||
The following tables include interest recognized in the Consolidated Statements of Operations and the Consolidated Balance Sheets. | ||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||
Net interest income recognized related to income taxes | $ | 6 | $ | — | $ | 3 | $ | — | $ | 1 | $ | 4 | $ | 4 | ||||||||
Net interest expense recognized related to income taxes | — | 1 | — | 1 | — | — | — | |||||||||||||||
Interest receivable related to income taxes | — | — | — | — | — | — | 2 | |||||||||||||||
Interest payable related to income taxes | 13 | 13 | 5 | 3 | 5 | — | — | |||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||
Net interest income recognized related to income taxes | $ | 2 | $ | 2 | 6 | 7 | — | 4 | $ | 1 | ||||||||||||
Interest payable related to income taxes | 27 | 8 | 10 | 2 | 7 | — | — | |||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||
Net interest income recognized related to income taxes | $ | 10 | $ | 9 | $ | — | $ | — | $ | — | — | 2 | ||||||||||
Net interest expense recognized related to income taxes | — | — | 2 | — | 2 | — | — | |||||||||||||||
Interest receivable related to income taxes | — | 7 | — | — | — | — | — | |||||||||||||||
Interest payable related to income taxes | 7 | — | 17 | 8 | 9 | 3 | 1 | |||||||||||||||
Duke Energy and its subsidiaries are no longer subject to U.S. federal examination for years before 2008. The years 2008 through 2011 are in Appeals. The IRS is currently auditing the federal income tax returns for years 2012 and 2013. With few exceptions, Duke Energy and its subsidiaries are no longer subject to state, local or non-U.S. income tax examinations by tax authorities for years before 2004. |
Other_Income_and_Expenses_Net
Other Income and Expenses, Net | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
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, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Interest income | $ | 57 | $ | 4 | $ | 3 | $ | — | $ | 2 | $ | 8 | $ | 6 | ||||||||||||||
Foreign exchange gains | 3 | — | — | — | — | — | — | |||||||||||||||||||||
AFUDC equity | 135 | 91 | 26 | 25 | — | 4 | 14 | |||||||||||||||||||||
Deferred returns | 89 | 71 | 17 | 17 | — | — | — | |||||||||||||||||||||
Other income (expense) | 67 | 6 | 31 | 9 | 18 | (2 | ) | 2 | ||||||||||||||||||||
Other income and expense, net | $ | 351 | $ | 172 | $ | 77 | $ | 51 | $ | 20 | $ | 10 | $ | 22 | ||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Interest income | $ | 26 | $ | 1 | $ | 7 | $ | 1 | $ | 3 | $ | 5 | $ | 6 | ||||||||||||||
Foreign exchange losses | (18 | ) | — | — | — | — | — | — | ||||||||||||||||||||
AFUDC equity | 157 | 91 | 50 | 42 | 8 | 1 | 15 | |||||||||||||||||||||
Deferred returns | 39 | 32 | 7 | 7 | — | — | — | |||||||||||||||||||||
Other income (expense) | 58 | (4 | ) | 30 | 7 | 19 | (4 | ) | (3 | ) | ||||||||||||||||||
Other income and expense, net | $ | 262 | $ | 120 | $ | 94 | $ | 57 | $ | 30 | $ | 2 | $ | 18 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Interest income | $ | 50 | $ | 11 | $ | 2 | $ | 1 | $ | 1 | $ | — | $ | 7 | ||||||||||||||
Foreign exchange gains | 4 | — | — | — | — | — | — | |||||||||||||||||||||
AFUDC equity | 300 | 154 | 106 | 69 | 37 | 6 | 84 | |||||||||||||||||||||
Deferred returns | 24 | 24 | — | — | — | — | — | |||||||||||||||||||||
Other income (expense) | 19 | (4 | ) | 22 | 9 | 1 | 2 | (1 | ) | |||||||||||||||||||
Other income and expense, net | $ | 397 | $ | 185 | $ | 130 | $ | 79 | $ | 39 | $ | 8 | $ | 90 | ||||||||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS |
For information on subsequent events related to acquisitions, dispositions and sales of other assets, regulatory matters, commitments and contingencies, and debt and credit facilities, see Notes 2, 4, 5 and 6. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||
DUKE ENERGY | ||||||||||||||||||||
Quarterly EPS amounts are meant to be stand-alone calculations and are not always additive to the full-year amount due to rounding and the weighting of share issuances. | ||||||||||||||||||||
(in millions, except per share data) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter(a) | Quarter(a) | Quarter(a) | Quarter(a) | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 6,263 | $ | 5,708 | $ | 6,395 | $ | 5,559 | $ | 23,925 | ||||||||||
Operating income | 1,362 | 1,289 | 1,619 | 988 | 5,258 | |||||||||||||||
Income from continuing operations | 750 | 725 | 891 | 99 | 2,465 | |||||||||||||||
(Loss) income from discontinued operations, net of tax | (843 | ) | (112 | ) | 378 | 1 | (576 | ) | ||||||||||||
Net loss (income) | (93 | ) | 613 | 1,269 | 100 | 1,889 | ||||||||||||||
Net loss (income) attributable to Duke Energy Corporation | (97 | ) | 609 | 1,274 | 97 | 1,883 | ||||||||||||||
Earnings per share: | ||||||||||||||||||||
Income from continuing operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | 1.05 | $ | 1.02 | $ | 1.25 | $ | 0.14 | $ | 3.46 | ||||||||||
Diluted | $ | 1.05 | $ | 1.02 | $ | 1.25 | $ | 0.14 | $ | 3.46 | ||||||||||
(Loss) income from discontinued operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | (1.19 | ) | $ | (0.16 | ) | $ | 0.55 | $ | — | $ | (0.80 | ) | |||||||
Diluted | $ | (1.19 | ) | $ | (0.16 | ) | $ | 0.55 | $ | — | $ | (0.80 | ) | |||||||
Net (loss) income attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | (0.14 | ) | $ | 0.86 | $ | 1.8 | $ | 0.14 | $ | 2.66 | |||||||||
Diluted | $ | (0.14 | ) | $ | 0.86 | $ | 1.8 | $ | 0.14 | $ | 2.66 | |||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 5,536 | $ | 5,393 | $ | 6,217 | $ | 5,610 | $ | 22,756 | ||||||||||
Operating income | 1,259 | 742 | 1,660 | 1,193 | 4,854 | |||||||||||||||
Income from continuing operations | 663 | 292 | 946 | 689 | 2,590 | |||||||||||||||
(Loss) income from discontinued operations, net of tax | (29 | ) | 50 | 62 | 3 | 86 | ||||||||||||||
Net income | 634 | 342 | 1,008 | 692 | 2,676 | |||||||||||||||
Net income attributable to Duke Energy Corporation | 634 | 339 | 1,004 | 688 | 2,665 | |||||||||||||||
Earnings per share: | ||||||||||||||||||||
Income from continuing operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | 0.93 | $ | 0.4 | $ | 1.33 | $ | 0.96 | $ | 3.64 | ||||||||||
Diluted | $ | 0.93 | $ | 0.4 | $ | 1.33 | $ | 0.96 | $ | 3.63 | ||||||||||
(Loss) income from discontinued operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | (0.04 | ) | $ | 0.08 | $ | 0.09 | $ | 0.01 | $ | 0.13 | |||||||||
Diluted | $ | (0.04 | ) | $ | 0.08 | $ | 0.09 | $ | 0.01 | $ | 0.13 | |||||||||
Net income attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | 0.89 | $ | 0.48 | $ | 1.42 | $ | 0.97 | $ | 3.77 | ||||||||||
Diluted | $ | 0.89 | $ | 0.48 | $ | 1.42 | $ | 0.97 | $ | 3.76 | ||||||||||
(a) | Operating results reflect reclassifications due to the impact of discontinued operations (see Note 2 for further information). | |||||||||||||||||||
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 unless otherwise noted. | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (55 | ) | $ | (61 | ) | $ | (56 | ) | $ | (33 | ) | $ | (205 | ) | |||||
Midwest Generation Impairment (see Note 2) | (1,287 | ) | — | 477 | (39 | ) | (849 | ) | ||||||||||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (102 | ) | (102 | ) | |||||||||||||
International Tax Adjustment (see Note 22) | — | — | — | (373 | ) | (373 | ) | |||||||||||||
Asset Impairment (see Note 11) | (94 | ) | — | — | — | (94 | ) | |||||||||||||
Total | $ | (1,436 | ) | $ | (61 | ) | $ | 421 | $ | (547 | ) | $ | (1,623 | ) | ||||||
2013(a) | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (55 | ) | $ | (82 | ) | $ | (88 | ) | $ | (72 | ) | $ | (297 | ) | |||||
Crystal River Unit 3 charges (see Note 4) | — | (295 | ) | — | (57 | ) | (352 | ) | ||||||||||||
Harris and Levy nuclear development charges (see Note 4) | — | (87 | ) | — | — | (87 | ) | |||||||||||||
Gain on sale of DukeNet (see Note 12) | — | — | — | 105 | 105 | |||||||||||||||
Total | $ | (55 | ) | $ | (464 | ) | $ | (88 | ) | $ | (24 | ) | $ | (631 | ) | |||||
(a) | Revised retail rates became effective in January for Duke Energy Florida, May for Duke Energy Ohio, June for Duke Energy Progress and September for Duke Energy Carolinas (see Note 4 for further information). | |||||||||||||||||||
DUKE ENERGY CAROLINAS | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 2,000 | $ | 1,755 | $ | 1,938 | $ | 1,658 | $ | 7,351 | ||||||||||
Operating income | 509 | 438 | 630 | 318 | 1,895 | |||||||||||||||
Net income | 286 | 270 | 377 | 139 | 1,072 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 1,729 | $ | 1,591 | $ | 1,919 | $ | 1,715 | $ | 6,954 | ||||||||||
Operating income | 434 | 351 | 604 | 420 | 1,809 | |||||||||||||||
Net income | 244 | 181 | 342 | 209 | 976 | |||||||||||||||
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 unless otherwise noted. | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (29 | ) | $ | (38 | ) | $ | (25 | ) | $ | (17 | ) | $ | (109 | ) | |||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (72 | ) | (72 | ) | |||||||||||||
Total | (29 | ) | (38 | ) | (25 | ) | (89 | ) | (181 | ) | ||||||||||
2013(a) | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (22 | ) | $ | (35 | ) | $ | (34 | ) | $ | (29 | ) | $ | (120 | ) | |||||
(a) | Revised retail rates became effective in September in both North Carolina and South Carolina (see Note 4 for further information). | |||||||||||||||||||
PROGRESS ENERGY | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 2,541 | $ | 2,421 | $ | 2,863 | $ | 2,341 | $ | 10,166 | ||||||||||
Operating income | 477 | 488 | 665 | 388 | 2,018 | |||||||||||||||
Income from continuing operations | 204 | 207 | 330 | 139 | 880 | |||||||||||||||
Net income | 203 | 202 | 330 | 139 | 874 | |||||||||||||||
Net income attributable to Parent | 202 | 202 | 329 | 136 | 869 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 2,186 | $ | 2,281 | $ | 2,766 | $ | 2,300 | $ | 9,533 | ||||||||||
Operating income | 430 | 114 | 671 | 403 | 1,618 | |||||||||||||||
Income (loss) from continuing operations | 154 | (13 | ) | 328 | 190 | 659 | ||||||||||||||
Net income (loss) | 154 | (17 | ) | 342 | 196 | 675 | ||||||||||||||
Net income (loss) attributable to Parent | 153 | (17 | ) | 341 | 195 | 672 | ||||||||||||||
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 unless otherwise noted. | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (19 | ) | $ | (12 | ) | $ | (21 | ) | $ | (13 | ) | $ | (65 | ) | |||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (30 | ) | (30 | ) | |||||||||||||
Total | (19 | ) | (12 | ) | (21 | ) | (43 | ) | (95 | ) | ||||||||||
2013(a) | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (19 | ) | $ | (33 | ) | $ | (42 | ) | $ | (28 | ) | $ | (122 | ) | |||||
Crystal River Unit 3 charges (see Note 4) | — | (295 | ) | — | (57 | ) | (352 | ) | ||||||||||||
Harris and Levy nuclear development charges (see Note 4) | — | (87 | ) | — | — | (87 | ) | |||||||||||||
Total | $ | (19 | ) | $ | (415 | ) | $ | (42 | ) | $ | (85 | ) | $ | (561 | ) | |||||
(a) | Revised retail rates became effective in January in Florida and June in North Carolina (see Note 4 for further information). | |||||||||||||||||||
DUKE ENERGY PROGRESS | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 1,422 | $ | 1,191 | $ | 1,367 | $ | 1,196 | $ | 5,176 | ||||||||||
Operating income | 258 | 212 | 285 | 180 | 935 | |||||||||||||||
Net income | 133 | 101 | 157 | 76 | 467 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 1,216 | $ | 1,135 | $ | 1,430 | $ | 1,211 | $ | 4,992 | ||||||||||
Operating income | 212 | 166 | 303 | 251 | 932 | |||||||||||||||
Net income | 110 | 77 | 175 | 138 | 500 | |||||||||||||||
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 unless otherwise noted. | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (14 | ) | $ | (3 | ) | $ | (15 | ) | $ | (10 | ) | $ | (42 | ) | |||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (30 | ) | (30 | ) | |||||||||||||
Total | (14 | ) | (3 | ) | (15 | ) | (40 | ) | (72 | ) | ||||||||||
2013(a) | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (11 | ) | $ | (22 | ) | $ | (32 | ) | $ | (19 | ) | $ | (84 | ) | |||||
Harris nuclear development charges (see Note 4) | $ | — | $ | (22 | ) | $ | — | $ | — | $ | (22 | ) | ||||||||
Total | $ | (11 | ) | $ | (44 | ) | $ | (32 | ) | $ | (19 | ) | $ | (106 | ) | |||||
(a) | Revised retail rates became effective in June in North Carolina (see Note 4 for further information). | |||||||||||||||||||
DUKE ENERGY FLORIDA | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 1,116 | $ | 1,225 | $ | 1,491 | $ | 1,143 | $ | 4,975 | ||||||||||
Operating income | 219 | 276 | 378 | 205 | 1,078 | |||||||||||||||
Net income | 108 | 142 | 205 | 93 | 548 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 968 | $ | 1,142 | $ | 1,332 | $ | 1,085 | $ | 4,527 | ||||||||||
Operating income (loss) | 221 | (53 | ) | 369 | 151 | 688 | ||||||||||||||
Net income (loss) | 110 | (57 | ) | 197 | 75 | 325 | ||||||||||||||
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 unless otherwise noted. | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (5 | ) | $ | (9 | ) | $ | (6 | ) | $ | (3 | ) | $ | (23 | ) | |||||
2013(a) | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (8 | ) | $ | (11 | ) | $ | (10 | ) | $ | (9 | ) | $ | (38 | ) | |||||
Crystal River Unit 3 charges (see Note 4) | — | (295 | ) | — | (57 | ) | (352 | ) | ||||||||||||
Levy nuclear development charges (see Note 4) | — | (65 | ) | — | — | (65 | ) | |||||||||||||
Total | $ | (8 | ) | $ | (371 | ) | $ | (10 | ) | $ | (66 | ) | $ | (455 | ) | |||||
(a) | Revised retail rates became effective in January (see Note 4 for further information). | |||||||||||||||||||
DUKE ENERGY OHIO | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter(a) | Quarter(a) | Quarter(a) | Quarter(a) | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 575 | $ | 412 | $ | 446 | $ | 480 | $ | 1,913 | ||||||||||
Operating (loss) income | (7 | ) | 62 | 58 | 74 | 187 | ||||||||||||||
(Loss) income from discontinued operations, net of tax | (875 | ) | (135 | ) | 413 | 34 | (563 | ) | ||||||||||||
Net (loss) income | (890 | ) | (108 | ) | 439 | 64 | (495 | ) | ||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 503 | $ | 408 | $ | 438 | $ | 456 | $ | 1,805 | ||||||||||
Operating income | 56 | 27 | 50 | 49 | 182 | |||||||||||||||
(Loss) income from discontinued operations, net of tax | (47 | ) | 51 | 35 | (4 | ) | 35 | |||||||||||||
Net (loss) income | (21 | ) | 58 | 59 | 6 | 102 | ||||||||||||||
(a) | Operating results reflect reclassifications due to the impact of discontinued operations (see Note 2 for further information). | |||||||||||||||||||
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 unless otherwise noted. | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (2 | ) | $ | (4 | ) | $ | (3 | ) | $ | (2 | ) | $ | (11 | ) | |||||
Midwest Generation Impairment (see Note 2) | (1,318 | ) | — | 477 | (39 | ) | (880 | ) | ||||||||||||
Asset Impairment (see Note 11) | (94 | ) | — | — | — | (94 | ) | |||||||||||||
Total | $ | (1,414 | ) | $ | (4 | ) | $ | 474 | $ | (41 | ) | $ | (985 | ) | ||||||
2013(a) | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (4 | ) | $ | (4 | ) | $ | (4 | ) | $ | (4 | ) | $ | (16 | ) | |||||
(a) | Revised retail rates became effective in May (see Note 4 for further information). | |||||||||||||||||||
DUKE ENERGY INDIANA | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 845 | $ | 748 | $ | 790 | $ | 792 | $ | 3,175 | ||||||||||
Operating income | 215 | 178 | 182 | 130 | 705 | |||||||||||||||
Net income | 113 | 87 | 101 | 58 | 359 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 724 | $ | 700 | $ | 755 | $ | 747 | $ | 2,926 | ||||||||||
Operating income | 181 | 168 | 203 | 181 | 733 | |||||||||||||||
Net income | 90 | 82 | 104 | 82 | 358 | |||||||||||||||
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 unless otherwise noted. | ||||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (2 | ) | $ | (5 | ) | $ | (3 | ) | $ | (2 | ) | $ | (12 | ) | |||||
2013 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (4 | ) | $ | (5 | ) | $ | (5 | ) | $ | (5 | ) | $ | (19 | ) |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Policy Text Block [Line Items] | |
Nature of Operations and Basis of Consolidation | Nature of Operations and Basis of Consolidation |
Duke Energy Corporation (collectively with its subsidiaries, Duke Energy) is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the Federal Energy Regulatory Commission (FERC). Duke Energy operates in the United States (U.S.) and Latin America primarily through its direct and indirect subsidiaries. Duke Energy’s subsidiaries include its subsidiary registrants, Duke Energy Carolinas, LLC (Duke Energy Carolinas); Progress Energy, Inc. (Progress Energy); Duke Energy Progress, Inc. (Duke Energy Progress); Duke Energy Florida, Inc. (Duke Energy Florida); Duke Energy Ohio, Inc. (Duke Energy Ohio) and Duke Energy Indiana, Inc. (Duke Energy Indiana). When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its six separate subsidiary registrants (collectively referred to as the Subsidiary Registrants), which, along with Duke Energy, are collectively referred to as the Duke Energy Registrants (Duke Energy Registrants). | |
On July 2, 2012, Duke Energy merged with Progress Energy, with Duke Energy continuing as the surviving corporation. Progress Energy became a subsidiary of Duke Energy and Progress Energy’s regulated utility subsidiaries, Duke Energy Progress (formerly Carolina Power & Light Company d/b/a Progress Energy Carolinas, Inc.) and Duke Energy Florida (formerly Florida Power Corporation d/b/a Progress Energy Florida, Inc.), became indirect subsidiaries of Duke Energy. Duke Energy’s consolidated financial statements include Progress Energy, Duke Energy Progress and Duke Energy Florida activity beginning July 2, 2012. The impacts of acquisition accounting from Progress Energy’s merger with Duke Energy were recorded by Duke Energy and were not reflected on the financial statements of Progress Energy, Duke Energy Progress and Duke Energy Florida. See Note 2 for additional information regarding the merger. On July 2, 2012, just prior to the close of the merger, Duke Energy executed a one-for-three reverse stock split with respect to the issued and outstanding shares of Duke Energy common stock. All per-share amounts included in this Form 10-K are presented as if the stock split had been effective from the beginning of the earliest period presented. | |
On August 21, 2014, Duke Energy Commercial Enterprises, Inc., an indirect wholly owned subsidiary of Duke Energy Corporation, and Duke Energy SAM, LLC, a wholly owned subsidiary of Duke Energy Ohio, entered into a purchase and sale agreement (PSA) with a subsidiary of Dynegy Inc. (Dynegy) whereby Dynegy will acquire Duke Energy Ohio’s nonregulated Midwest generation business and Duke Energy Retail Sales LLC (Disposal Group). The results of operations of the nonregulated Midwest generation business have been classified as Discontinued Operations on the Consolidated Statements of Operations for the current and prior periods presented. Duke Energy has elected to present cash flows of discontinued operations combined with cash flows of continuing operations. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented, assets held for sale and liabilities associated with assets held for sale as of December 31, 2014. See Note 2 for additional information. | |
The information in these combined notes relate to each of the Duke Energy Registrants as noted in the Index to the Combined Notes to Consolidated Financial Statements. However, none of the registrants makes any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself. | |
These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries where the respective Duke Energy Registrants have control. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. | |
Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the North Carolina Utilities Commission (NCUC), Public Service Commission of South Carolina (PSCSC), U.S. Nuclear Regulatory Commission (NRC) and FERC. Substantially all of Duke Energy Carolinas’ operations qualify for regulatory accounting. | |
Progress Energy is a public utility holding company headquartered in Raleigh, North Carolina, subject to regulation by the FERC. Progress Energy conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Substantially all of Progress Energy’s operations qualify for regulatory accounting. | |
Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC. Substantially all of Duke Energy Progress’ operations qualify for regulatory accounting. | |
Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the Florida Public Service Commission (FPSC), NRC and FERC. Substantially all of Duke Energy Florida’s operations qualify for regulatory accounting. | |
Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in Ohio and Kentucky, in the generation business in Kentucky, and the transportation and sale of natural gas in portions of Ohio and Kentucky. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky, Inc. (Duke Energy Kentucky). Duke Energy Ohio conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered from retail customers. References herein to Duke Energy Ohio include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the Public Utilities Commission of Ohio (PUCO), Kentucky Public Service Commission (KPSC) and FERC. Duke Energy Ohio applies regulatory accounting to a portion of its operations. Duke Energy has agreed to sell Duke Energy Ohio's nonregulated Midwest generation business, which sells power into wholesale energy markets, to Dynegy. See Note 2 for additional information. | |
Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the Indiana Utility Regulatory Commission (IURC) and FERC. Substantially all of Duke Energy Indiana’s operations qualify for regulatory accounting. | |
Certain prior year amounts have been reclassified to conform to the current year presentation. | |
Use of Estimates | Use of Estimates |
In preparing financial statements that conform to generally accepted accounting principles (GAAP) in the U.S., the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. | |
Regulatory Accounting | Regulatory Accounting |
The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, Regulatory assets and Regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. See Note 4 for further information. | |
Regulated Fuel Costs and Purchased Power | Regulated Fuel Costs and Purchased Power |
The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses. These clauses allow for the recovery of fuel and fuel-related costs and portions of purchased power costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded as an adjustment to Fuel Operating Revenues – Regulated electric on the Consolidated Statements of Operations with an off-setting impact on regulatory assets or liabilities. | |
Cash and Cash Equivalents | Cash and Cash Equivalents |
All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. At December 31, 2014, $1,680 million of Duke Energy’s total cash and cash equivalents is held by entities domiciled in foreign jurisdictions. During the fourth quarter of 2014, Duke Energy declared a taxable dividend of historical foreign earnings in the form of notes payable that will result in the repatriation of approximately $2.7 billion in cash held and expected to be generated by International Energy over a period of up to 8 years. See Note 22 to the Consolidated Financial Statements, “Income Taxes,” for additional information. | |
Restricted Cash | Restricted Cash |
The Duke Energy Registrants have restricted cash related primarily to collateral assets, escrow deposits and variable interest entities (VIEs). Restricted cash balances are reflected in Other within Current Assets and in Other within Investments and Other Assets on the Consolidated Balance Sheets. At December 31, 2014 and 2013, Duke Energy had restricted cash totaling $298 million and $307 million, respectively. | |
Inventory | Inventory |
Inventory is used for operations and is recorded primarily using the average cost method. Inventory related to regulated operations is valued at historical cost. Inventory related to nonregulated operations is valued at the lower of cost or market. Materials and supplies are recorded as inventory when purchased and subsequently charged to expense or capitalized to property, plant and equipment when installed. Reserves are established for excess and obsolete inventory. The components of inventory are presented in the tables below. | |
Investments in Debt and Equity Securities | Investments in Debt and Equity Securities |
The Duke Energy Registrants classify investments into two categories — trading and available-for-sale. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on trading securities are included in earnings. For certain investments of regulated operations such as the Nuclear Decommissioning Trust Fund (NDTF), realized and unrealized gains and losses (including any other-than-temporary impairments) on available-for-sale securities are recorded as a regulatory asset or liability. Otherwise, unrealized gains and losses are included in Accumulated Other Comprehensive Income (AOCI), unless other-than-temporarily impaired. Other-than-temporary impairments for equity securities and the credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity. See Note 15 for further information. | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets |
Goodwill | |
Duke Energy, Progress Energy and Duke Energy Ohio perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be an operating segment or one level below. Duke Energy, Progress Energy and Duke Energy Ohio update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. | |
In 2012, Progress Energy changed its goodwill impairment testing date from October 31 to August 31 to better align its annual goodwill impairment testing procedure with those of Duke Energy. The change had no impact on goodwill. Neither the change in the goodwill impairment testing date nor the merger resulted in any changes to the Progress Energy reporting units. | |
Intangible Assets | |
Intangible assets are included in Other in Investments and Other Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed, or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization in the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced. | |
Emission allowances permit the holder of the allowance to emit certain gaseous byproducts of fossil fuel combustion, including sulfur dioxide (SO2) and nitrogen oxide (NOX). Allowances are issued by the U.S. Environmental Protection Agency (EPA) at zero cost and may also be bought and sold via third-party transactions. Allowances allocated to or acquired by the Duke Energy Registrants are held primarily for consumption. Carrying amounts for emission allowances are based on the cost to acquire the allowances or, in the case of a business combination, on the fair value assigned in the allocation of the purchase price of the acquired business. | |
Renewable energy certificates are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 11 for further information. | |
Long-Lived Asset Impairments | Long-Lived Asset Impairments |
The Duke Energy Registrants evaluate long-lived assets, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written-down to its then-current estimated fair value and an impairment charge is recognized. | |
The Duke Energy Registrants assess fair value of long-lived assets using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisors. Significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset are generally viewed as triggering events to re-assess cash flows. See Note 11 for further information. | |
Property, Plant and Equipment | Property, Plant and Equipment |
Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized” for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted-average depreciation rates, excluding nuclear fuel, are included in the table that follows. | |
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, original cost plus the cost of retirement, less salvage value, is charged to accumulated depreciation. However, when it becomes probable a regulated asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Generation facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory Assets on the Consolidated Balance Sheets. The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate. | |
When the Duke Energy Registrants sell entire regulated operating units, or retire or sell nonregulated properties, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. | |
See Note 10 for further information. | |
Nuclear Fuel | Nuclear Fuel |
Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets, except for Duke Energy Florida. Duke Energy Florida has reclassified all Crystal River Unit 3 Nuclear Station (Crystal River Unit 3) investments, including nuclear fuel, to a regulatory asset. Refer to Note 4, “Regulatory Matters,” for additional information on Crystal River Unit 3. | |
Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power - regulated in the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method. | |
Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized | Allowance for Funds Used During Construction and Interest Capitalized |
For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets. | |
AFUDC equity, a permanent difference for income taxes, reduces the effective tax rate when capitalized and increases the effective tax rate when depreciated or amortized. See Note 22 for additional information. | |
For nonregulated operations, interest is capitalized during the construction phase with an offsetting non-cash credit to Interest Expense on the Consolidated Statements of Operations. | |
Asset Retirement Obligations | Asset Retirement Obligations |
Asset retirement obligations are recognized for legal obligations associated with the retirement of property, plant and equipment. Substantially all asset retirement obligations are related to regulated operations. When recording an asset retirement obligation, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset and expensed over the recovery period in rates. | |
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the asset retirement obligation for regulated operations through a combination of regulated revenues and NDTF. As a result, the net of amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset is deferred as a regulatory asset or liability. | |
Obligations for nuclear decommissioning are based on site-specific cost studies. Duke Energy Carolinas and Duke Energy Progress assume prompt dismantlement of the nuclear facilities after operations are ceased. Duke Energy Florida assumes Crystal River Unit 3 will be placed into a safe storage configuration until eventual dismantlement begins in approximately 60 years. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida also assume that spent fuel will be stored on site until such time that it can be transferred to a U.S. Department of Energy (DOE) facility. | |
Obligations for closure of ash basins are based upon discounted cash flows of estimated costs based upon probability weightings of the potential closure methods as evaluated on a site by site basis. Duke Energy Registrants with ash basins in North Carolina and certain basins in South Carolina and Indiana have a legal obligation that results in recognition of an asset retirement obligation at December 31, 2014. See Notes 5 and 9 for further information | |
Revenue Recognition and Unbilled Revenue | Revenue Recognition and Unbilled Revenue |
Revenues on sales of electricity and gas are recognized when service is provided or the product is delivered. Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy delivered but not yet billed. Unbilled revenues can vary significantly from period to period as a result of seasonality, weather, customer usage patterns, customer mix, average price in effect for customer classes and meter reading schedules. | |
Unbilled revenues are included within Receivables and Restricted receivables of variable interest entities on the Consolidated Balance Sheets | |
Derivatives and Hedging | Derivatives and Hedging |
Derivative and non-derivative instruments may be used in connection with commodity price, interest rate and foreign currency risk management activities, including swaps, futures, forwards and options. All derivative instruments except those that qualify for the normal purchase/normal sale (NPNS) exception are recorded on the Consolidated Balance Sheets at their fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact. | |
Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items. | |
See Note 14 for further information. | |
Captive Insurance Reserves | Captive Insurance Reserves |
Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for various business risks and losses, such as property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not yet reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience. | |
Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable. | |
Unamortized Debt Premium, Discount and Expense | Unamortized Debt Premium, Discount and Expense |
Premiums, discounts and expenses incurred with the issuance of outstanding long-term debt are amortized over the term of the debt issue. Call premiums and unamortized expenses associated with refinancing higher-cost debt obligations in the regulated operations are amortized. Amortization expense is recorded as Interest Expense in the Consolidated Statements of Operations and is reflected as Depreciation, amortization and accretion within Net cash provided by operating activities on the Consolidated Statements of Cash Flows. | |
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 becomes probable and can be reasonably estimated. Environmental expenditures related to past operations that do not generate current or future revenues are expensed. Environmental expenditures related to operations that generate current or future revenues are expensed or capitalized, as appropriate. Certain environmental expenditures receive regulatory accounting treatment and are recorded as regulatory assets. | |
See Notes 4 and 5 for further information. | |
Pension and Other Post-Retirement Benefit Plans | Pension and Other Post-Retirement Benefit Plans |
Duke Energy maintains qualified, non-qualified and other post-retirement benefit plans. Eligible employees of the Subsidiary Registrants participate in the respective qualified, non-qualified and other post-retirement benefit plans and the Subsidiary Registrants are allocated their proportionate share of benefit costs. See Note 21 for further information, including significant accounting policies associated with these plans. | |
Severance and Special Termination Benefits | Severance and Special Termination Benefits |
Duke Energy has an ongoing severance plan under which, in general, the longer a terminated employee worked prior to termination the greater the amount of severance benefits. A liability for involuntary severance is recorded once an involuntary severance plan is committed to by management, or sooner, if involuntary severances are probable and can be reasonably estimated. For involuntary severance benefits incremental to its ongoing severance plan benefits, the fair value of the obligation is expensed at the communication date if there are no future service requirements, or over the required future service period. From time to time, Duke Energy offers special termination benefits under voluntary severance programs. Special termination benefits are recorded immediately upon employee acceptance absent a significant retention period. Otherwise, the cost is recorded over the remaining service period. Employee acceptance of voluntary severance benefits is determined by management based on the facts and circumstances of the benefits being offered. See Note 19 for further information. | |
Guarantees | Guarantees |
Liabilities are recognized at the time of issuance or material modification of a guarantee for the estimated fair value of the obligation it assumes. Fair value is estimated using a probability-weighted approach. The obligation is reduced over the term of the guarantee or related contract in a systematic and rational method as risk is reduced. Any additional contingent loss for guarantee contracts subsequent to the initial recognition of a liability is accounted for and recognized at the time a loss is probable and can be reasonably estimated. See Note 7 for further information. | |
Stock-Based Compensation | Stock-Based Compensation |
Stock-based compensation represents costs related to stock-based awards granted to employees and Duke Energy Board of Directors (Board of Directors) members. Duke Energy recognizes stock-based compensation based upon the estimated fair value of awards, net of estimated forfeitures at the date of issuance. The recognition period for these costs begin at either the applicable service inception date or grant date and continues throughout the requisite service period, or for certain share-based awards until the employee becomes retirement eligible, if earlier. Compensation cost is recognized as expense or capitalized as a component of property, plant and equipment. See Note 20 for further information. | |
Income Taxes | Income Taxes |
Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and foreign jurisdictional returns. The Subsidiary Registrants entered into a tax-sharing agreement with Duke Energy. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. Deferred income taxes have been provided for temporary differences between GAAP and tax bases of assets and liabilities because the differences create taxable or tax-deductible amounts for future periods. Deferred taxes are not provided on translation gains and losses when earnings of a foreign operation are expected to be indefinitely reinvested. Investment tax credits (ITC) associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties. | |
Positions taken or expected to be taken on tax returns, including the decision to exclude certain income or transactions from a return, are recognized in the financial statements when it is more likely than not the tax position can be sustained based solely on the technical merits of the position. The largest amount of tax benefit that is greater than 50 percent likely of being effectively settled is recorded. Management considers a tax position effectively settled when: (i) the taxing authority has completed its examination procedures, including all appeals and administrative reviews; (ii) the Duke Energy Registrants do not intend to appeal or litigate the tax position included in the completed examination; and (iii) it is remote the taxing authority would examine or re-examine the tax position. The amount of a tax return position that is not recognized in the financial statements is disclosed as an unrecognized tax benefit. If these unrecognized tax benefits are later recognized, then there will be a decrease in income taxes payable, an income tax refund or a swap between deferred and current taxes payable. If the portion of tax benefits that has been recognized changes and those tax benefits are subsequently unrecognized, then the previously recognized tax benefits may impact the financial statements through increasing income taxes payable, reducing income tax refunds receivable changing deferred taxes. Changes in assumptions on tax benefits may also impact interest expense or interest income and may result in the recognition of tax penalties. | |
Tax-related interest and penalties are recorded in Interest Expense and Other Income and Expenses, net, in the Consolidated Statements of Operations. | |
See Note 22 for further information. | |
Accounting for Renewable Energy Tax Credits and Cash Grants | Accounting for Renewable Energy Tax Credits and Cash Grants |
When Duke Energy receives ITC or cash grants on wind or solar facilities, it reduces the basis of the property recorded on the Consolidated Balance Sheets by the amount of the ITC or cash grant and, therefore, the ITC or grant benefit is recognized through reduced depreciation expense. Additionally, certain tax credits and government grants received provide for initial tax depreciable base in excess of the book carrying value equal to one half of the ITC or government grant. Deferred tax benefits are recorded as a reduction to income tax expense in the period that the basis difference is created. | |
Excise Taxes | Excise Taxes |
Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis. Otherwise, the taxes are accounted for net. Excise taxes accounted for on a gross basis as both operating revenues and property and other taxes in the Consolidated Statements of Operations were as follows. | |
Foreign Currency Transaction | Foreign Currency Translation |
The local currencies of most of Duke Energy’s foreign operations have been determined to be their functional currencies. However, certain foreign operations’ functional currency has been determined to be the U.S. dollar, based on an assessment of the economic circumstances of the foreign operation. Assets and liabilities of foreign operations whose functional currency is not the U.S. dollar are translated into U.S. dollars at the exchange rates in effect at period end. Translation adjustments resulting from changes in exchange rates are included in AOCI. Revenue and expense accounts are translated at average exchange rates during the year. Remeasurement gains and losses arising from balances and transactions denominated in currencies other than the local currency are included in the results of operations when they occur. | |
Dividend Restrictions and Unappropriated Retained Earnings | Dividend Restrictions and Unappropriated Retained Earnings |
Duke Energy does not have any legal, regulatory or other restrictions on paying common stock dividends to shareholders. However, as further described in Note 4, due to conditions established by regulators in conjunction with merger transaction approvals, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana have restrictions on paying dividends or otherwise advancing funds to Duke Energy. At December 31, 2014 and 2013, an insignificant amount of Duke Energy’s consolidated Retained earnings balance represents undistributed earnings of equity method investments. | |
New Accounting Standards | New Accounting Standards |
The new accounting standards that were adopted for 2014, 2013 and 2012 had no significant impact on the presentation or results of operations, cash flows or financial position of the Duke Energy Registrants. Disclosures have been enhanced to provide a discussion and tables on derivative contracts subject to enforceable master netting agreements and a table of quantitative disclosures about unobservable inputs. See Notes 14 and 16 for further information. | |
The following new Accounting Standards Updates (ASUs) have been issued, but have not yet been adopted by the Duke Energy Registrants, as of December 31, 2014. | |
ASC 205 — Reporting Discontinued Operations. In April 2014, the Financial Accounting Standards Board (FASB) issued revised accounting guidance for reporting discontinued operations. A discontinued operation would be either (i) a component of an entity or a group of components of an entity that represents a separate major line of business or major geographical area of operations that either has been disposed of or is part of a single coordinated plan to be classified as held for sale or (ii) a business that, on acquisition, meets the criteria to be classified as held for sale. | |
For the Duke Energy Registrants, this guidance is effective on a prospective basis for interim and annual periods beginning January 1, 2015. This guidance will also result in increased disclosures for discontinued operations or disposals of individually significant components that are not classified as discontinued operations. In general, this guidance is likely to result in fewer disposals of assets qualifying as discontinued operations. | |
ASC 606 — Revenue from Contracts with Customers. In May 2014, the FASB issued revised accounting guidance for revenue recognition from contracts with customers. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this update also require disclosure of sufficient information to allow users to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. | |
For the Duke Energy Registrants, this guidance is effective for interim and annual periods beginning January 1, 2017. Duke Energy is currently evaluating the requirements. The ultimate impact of the new standard has not yet been determined. | |
Duke Energy Ohio [Member] | |
Policy Text Block [Line Items] | |
Revenue Recognition and Unbilled Revenue | Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. |
Duke Energy Indiana [Member] | |
Policy Text Block [Line Items] | |
Revenue Recognition and Unbilled Revenue | Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||
Organization And Basis Of Presentation [Line Items] | ||||||||||||||||||||||||||||||
Schedule of Current and Noncurrent Assets and Liabilities | Other within Current Assets includes the current portion of deferred tax assets, which are disclosed in Note 22. Additionally, the following are included in Other within Current Assets or Current Liabilities in the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2014 and 2013. The amounts presented exceeded 5 percent of current assets or 5 percent of current liabilities unless otherwise noted. | |||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||
(in millions) | Location | 2014 | 2013 | |||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||||
Accrued compensation | Current Liabilities | $ | 638 | $ | 621 | |||||||||||||||||||||||||
Duke Energy Carolinas | ||||||||||||||||||||||||||||||
Accrued compensation | Current Liabilities | $ | 216 | $ | 198 | |||||||||||||||||||||||||
Collateral liabilities | Current Liabilities | 128 | 120 | |||||||||||||||||||||||||||
Progress Energy | ||||||||||||||||||||||||||||||
Income taxes receivable(b) | Current Assets | $ | 718 | $ | 119 | |||||||||||||||||||||||||
Customer deposits | Current Liabilities | 360 | 349 | |||||||||||||||||||||||||||
Accrued compensation(a) | Current Liabilities | 174 | 214 | |||||||||||||||||||||||||||
Derivative liabilities(b) | Current Liabilities | 271 | — | |||||||||||||||||||||||||||
Duke Energy Progress | ||||||||||||||||||||||||||||||
Income taxes receivable(b) | Current Assets | $ | 272 | $ | 15 | |||||||||||||||||||||||||
Customer deposits | Current Liabilities | 135 | 129 | |||||||||||||||||||||||||||
Accrued compensation | Current Liabilities | 116 | 121 | |||||||||||||||||||||||||||
Derivative liabilities(b) | Current Liabilities | 108 | 38 | |||||||||||||||||||||||||||
Duke Energy Florida | ||||||||||||||||||||||||||||||
Income taxes receivable(b) | Current Assets | $ | 177 | $ | 65 | |||||||||||||||||||||||||
Customer deposits | Current Liabilities | 225 | 220 | |||||||||||||||||||||||||||
Accrued compensation(a) | Current Liabilities | 57 | 65 | |||||||||||||||||||||||||||
Derivative liabilities(b) | Current Liabilities | 163 | — | |||||||||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||||
Collateral assets(a) | Current Assets | $ | 13 | $ | 122 | |||||||||||||||||||||||||
Duke Energy Indiana | ||||||||||||||||||||||||||||||
Income taxes receivable | Current Assets | $ | 98 | $ | 56 | |||||||||||||||||||||||||
Accrued compensation(a) | Current Liabilities | 25 | 25 | |||||||||||||||||||||||||||
Collateral liabilities | Current Liabilities | 43 | 40 | |||||||||||||||||||||||||||
(a) Does not exceed 5 percent of total current assets or liabilities, as appropriate, on the Consolidated Balance Sheets at December 31, 2014. | ||||||||||||||||||||||||||||||
(b) Does not exceed 5 percent of total current assets or liabilities, as appropriate, on the Consolidated Balance Sheets at December 31, 2013. | ||||||||||||||||||||||||||||||
Schedule of Net Income Amounts Attributable to Controlling Interests | The following table presents Net Income Attributable to Duke Energy Corporation for continuing operations and discontinued operations. | |||||||||||||||||||||||||||||
Years ended December 31, | ||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Progress Energy | Duke Energy | Progress Energy | Duke Energy | Progress Energy | ||||||||||||||||||||||||
Income from Continuing Operations | $ | 2,465 | $ | 880 | $ | 2,590 | $ | 659 | 1,611 | 355 | ||||||||||||||||||||
Income of Continuing Operations Attributable to Noncontrolling Interests | 14 | 5 | 16 | 3 | 18 | 7 | ||||||||||||||||||||||||
Income from Continuing Operations Attributable to Duke Energy Corporation | $ | 2,451 | $ | 875 | $ | 2,574 | $ | 656 | $ | 1,593 | $ | 348 | ||||||||||||||||||
(Loss) Income From Discontinued Operations, net of tax | $ | (576 | ) | $ | (6 | ) | $ | 86 | $ | 16 | 171 | 52 | ||||||||||||||||||
Loss of Discontinued Operations attributable to Noncontrolling Interests, net of tax | (8 | ) | — | (5 | ) | — | (4 | ) | — | |||||||||||||||||||||
(Loss) Income From Discontinued Operations Attributable to Duke Energy Corporation, net of tax | $ | (568 | ) | $ | (6 | ) | $ | 91 | $ | 16 | $ | 175 | $ | 52 | ||||||||||||||||
Net Income | $ | 1,889 | $ | 874 | $ | 2,676 | $ | 675 | $ | 1,782 | $ | 407 | ||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | 6 | 5 | 11 | 3 | 14 | 7 | ||||||||||||||||||||||||
Net Income Attributable to Duke Energy Corporation | $ | 1,883 | $ | 869 | $ | 2,665 | $ | 672 | $ | 1,768 | $ | 400 | ||||||||||||||||||
Components Of Inventory | The components of inventory are presented in the tables below. | |||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||
(in millions) | Duke | Duke | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke | Duke | |||||||||||||||||||||||
Energy | Energy Carolinas | Energy | Energy | |||||||||||||||||||||||||||
Ohio | Indiana | |||||||||||||||||||||||||||||
Materials and supplies | $ | 2,102 | $ | 719 | $ | 981 | $ | 676 | $ | 305 | $ | 67 | $ | 258 | ||||||||||||||||
Coal held for electric generation | 997 | 362 | 329 | 150 | 178 | 21 | 275 | |||||||||||||||||||||||
Oil, gas and other fuel held for electric generation | 360 | 43 | 280 | 140 | 140 | 9 | 4 | |||||||||||||||||||||||
Total inventory | $ | 3,459 | $ | 1,124 | $ | 1,590 | $ | 966 | $ | 623 | $ | 97 | $ | 537 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||
(in millions) | Duke | Duke | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke | Duke | |||||||||||||||||||||||
Energy | Energy Carolinas | Energy | Energy | |||||||||||||||||||||||||||
Ohio | Indiana | |||||||||||||||||||||||||||||
Materials and supplies | $ | 1,901 | $ | 654 | $ | 854 | $ | 567 | $ | 287 | $ | 117 | $ | 193 | ||||||||||||||||
Coal held for electric generation | 1,018 | 374 | 334 | 187 | 147 | 65 | 238 | |||||||||||||||||||||||
Oil, gas and other fuel held for electric generation | 331 | 37 | 236 | 99 | 137 | 47 | 3 | |||||||||||||||||||||||
Total inventory | $ | 3,250 | $ | 1,065 | $ | 1,424 | $ | 853 | $ | 571 | $ | 229 | $ | 434 | ||||||||||||||||
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, | ||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Duke Energy | 2.8 | % | 2.8 | % | 2.9 | % | ||||||||||||||||||||||||
Duke Energy Carolinas | 2.7 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||||||||
Progress Energy | 2.5 | % | 2.5 | % | 2.6 | % | ||||||||||||||||||||||||
Duke Energy Progress | 2.5 | % | 2.5 | % | 2.7 | % | ||||||||||||||||||||||||
Duke Energy Florida | 2.7 | % | 2.4 | % | 2.5 | % | ||||||||||||||||||||||||
Duke Energy Ohio | 2.3 | % | 3.3 | % | 3.2 | % | ||||||||||||||||||||||||
Duke Energy Indiana | 3 | % | 2.8 | % | 3.3 | % | ||||||||||||||||||||||||
The following tables summarize the property, plant and equipment. | ||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||
(in millions) | Estimated Useful Life (Years) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Land | $ | 1,459 | $ | 403 | $ | 704 | $ | 380 | $ | 324 | $ | 114 | $ | 108 | ||||||||||||||||
Plant - Regulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 138 | 82,206 | 31,751 | 33,672 | 20,616 | 13,056 | 3,956 | 11,911 | ||||||||||||||||||||||
Natural gas transmission and distribution | Dec-67 | 2,230 | — | — | — | — | 2,230 | — | ||||||||||||||||||||||
Other buildings and improvements | 9 - 100 | 1,445 | 465 | 607 | 286 | 318 | 200 | 173 | ||||||||||||||||||||||
Plant - Nonregulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 30-Jan | 2,380 | — | — | — | — | — | — | ||||||||||||||||||||||
Other buildings and improvements | May-50 | 2,498 | — | — | — | — | — | — | ||||||||||||||||||||||
Nuclear fuel | 2,865 | 1,676 | 1,190 | 1,190 | — | — | — | |||||||||||||||||||||||
Equipment | Mar-34 | 1,762 | 341 | 506 | 388 | 118 | 330 | 166 | ||||||||||||||||||||||
Construction in process | 4,519 | 2,081 | 1,215 | 908 | 307 | 97 | 481 | |||||||||||||||||||||||
Other | May-80 | 3,497 | 655 | 756 | 439 | 310 | 214 | 195 | ||||||||||||||||||||||
Total property, plant and equipment(a)(d) | 104,861 | 37,372 | 38,650 | 24,207 | 14,433 | 7,141 | 13,034 | |||||||||||||||||||||||
Total accumulated depreciation - regulated(b)(c)(d) | (32,628 | ) | (12,700 | ) | (13,506 | ) | (9,021 | ) | (4,478 | ) | (2,213 | ) | (4,219 | ) | ||||||||||||||||
Total accumulated depreciation - nonregulated(c)(d) | (2,196 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Generation facilities to be retired, net | 9 | — | — | — | — | 9 | — | |||||||||||||||||||||||
Total net property, plant and equipment | $ | 70,046 | $ | 24,672 | $ | 25,144 | $ | 15,186 | $ | 9,955 | $ | 4,937 | $ | 8,815 | ||||||||||||||||
(a) | Includes capitalized leases of $1,548 million, $40 million, $315 million, $146 million, $169 million, $98 million, and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $72 million, $5 million and $67 million, respectively, of accumulated amortization of capitalized leases. | |||||||||||||||||||||||||||||
(b) | Includes $1,408 million, $847 million, $561 million and $561 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. | |||||||||||||||||||||||||||||
(c) | Includes accumulated amortization of capitalized leases of $52 million, $8 million, $25 million and $6 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. | |||||||||||||||||||||||||||||
(d) | Includes gross property, plant and equipment cost of consolidated VIEs of $1,873 million and accumulated depreciation of consolidated VIEs of $257 million at Duke Energy. | |||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||
(in millions) | Estimated Useful Life (Years) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Land | $ | 1,481 | $ | 397 | $ | 705 | $ | 383 | $ | 321 | $ | 137 | $ | 105 | ||||||||||||||||
Plant - Regulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 125 | 78,272 | 30,018 | 31,792 | 19,190 | 12,601 | 3,925 | 11,594 | ||||||||||||||||||||||
Natural gas transmission and distribution | Dec-67 | 2,138 | — | — | — | — | 2,138 | — | ||||||||||||||||||||||
Other buildings and improvements | 2 - 100 | 1,397 | 447 | 610 | 282 | 315 | 190 | 159 | ||||||||||||||||||||||
Plant - Nonregulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 100 | 6,267 | — | — | — | — | 4,017 | — | ||||||||||||||||||||||
Other buildings and improvements | 9 -100 | 2,512 | — | — | — | — | 5 | — | ||||||||||||||||||||||
Nuclear fuel | 2,458 | 1,446 | 1,012 | 1,012 | — | — | — | |||||||||||||||||||||||
Equipment | Jan-33 | 1,557 | 287 | 621 | 357 | 94 | 317 | 146 | ||||||||||||||||||||||
Construction in process | 3,595 | 1,741 | 873 | 631 | 238 | 166 | 307 | |||||||||||||||||||||||
Other | May-33 | 3,438 | 570 | 867 | 418 | 294 | 248 | 178 | ||||||||||||||||||||||
Total property, plant and equipment(a)(d) | 103,115 | 34,906 | 36,480 | 22,273 | 13,863 | 11,143 | 12,489 | |||||||||||||||||||||||
Total accumulated depreciation - regulated(b)(c)(d) | (31,659 | ) | (11,894 | ) | (13,098 | ) | (8,623 | ) | (4,252 | ) | (2,160 | ) | (3,913 | ) | ||||||||||||||||
Total accumulated depreciation - nonregulated(c)(d) | (1,966 | ) | — | — | — | — | (748 | ) | — | |||||||||||||||||||||
Total net property, plant and equipment | $ | 69,490 | $ | 23,012 | $ | 23,382 | $ | 13,650 | $ | 9,611 | $ | 8,235 | $ | 8,576 | ||||||||||||||||
(a) | Includes capitalized leases of $1,606 million, $53 million, $328 million, $148 million, $180 million, $96 million, and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $60 million, an insignificant amount and $57 million, respectively, of accumulated amortization of capitalized leases. | |||||||||||||||||||||||||||||
(b) | Includes $1,118 million, $681 million, $438 million and $438 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. | |||||||||||||||||||||||||||||
(c) | Includes accumulated amortization of capitalized leases of $40 million, $4 million, $21 million and $5 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. | |||||||||||||||||||||||||||||
(d) | Includes gross property, plant and equipment cost of consolidated VIEs of $1,678 million and accumulated depreciation of consolidated VIEs of $175 million at Duke Energy. | |||||||||||||||||||||||||||||
Schedule of Allowance for Doubtful Accounts | Allowances for doubtful accounts are presented in the following table. | |||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Allowance for Doubtful Accounts | ||||||||||||||||||||||||||||||
Duke Energy | $ | 17 | 30 | 34 | ||||||||||||||||||||||||||
Duke Energy Carolinas | 3 | 3 | 3 | |||||||||||||||||||||||||||
Progress Energy | 8 | 14 | 16 | |||||||||||||||||||||||||||
Duke Energy Progress | 7 | 10 | 9 | |||||||||||||||||||||||||||
Duke Energy Florida | 2 | 4 | 7 | |||||||||||||||||||||||||||
Duke Energy Ohio | 2 | 2 | 2 | |||||||||||||||||||||||||||
Duke Energy Indiana | 1 | 1 | 1 | |||||||||||||||||||||||||||
Allowance for Doubtful Accounts - VIEs | ||||||||||||||||||||||||||||||
Duke Energy | $ | 51 | 43 | 44 | ||||||||||||||||||||||||||
Duke Energy Carolinas | 6 | 6 | 6 | |||||||||||||||||||||||||||
Progress Energy | 8 | — | — | |||||||||||||||||||||||||||
Duke Energy Progress | 5 | — | — | |||||||||||||||||||||||||||
Duke Energy Florida | 3 | — | — | |||||||||||||||||||||||||||
Schedule of Excise Taxes | Excise taxes accounted for on a gross basis as both operating revenues and property and other taxes in the Consolidated Statements of Operations were as follows. | |||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Duke Energy | $ | 498 | $ | 602 | $ | 466 | ||||||||||||||||||||||||
Duke Energy Carolinas | 94 | 164 | 161 | |||||||||||||||||||||||||||
Progress Energy | 263 | 304 | 317 | |||||||||||||||||||||||||||
Duke Energy Progress | 56 | 115 | 113 | |||||||||||||||||||||||||||
Duke Energy Florida | 207 | 189 | 205 | |||||||||||||||||||||||||||
Duke Energy Ohio | 103 | 105 | 102 | |||||||||||||||||||||||||||
Duke Energy Indiana | 38 | 29 | 33 | |||||||||||||||||||||||||||
Unbilled Revenues [Member] | ||||||||||||||||||||||||||||||
Organization And Basis Of Presentation [Line Items] | ||||||||||||||||||||||||||||||
Schedule Of Unbilled Revenues With Restricted Receivables | Unbilled revenues are included within Receivables and Restricted receivables of variable interest entities on the Consolidated Balance Sheets as shown in the following table. This table excludes amounts included in assets held for sale (AHFS). | |||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | ||||||||||||||||||||||||||||
Duke Energy | $ | 827 | $ | 937 | ||||||||||||||||||||||||||
Duke Energy Carolinas | 295 | 323 | ||||||||||||||||||||||||||||
Progress Energy | 217 | 189 | ||||||||||||||||||||||||||||
Duke Energy Progress | 135 | 120 | ||||||||||||||||||||||||||||
Duke Energy Florida | 82 | 69 | ||||||||||||||||||||||||||||
Duke Energy Ohio | — | 55 | ||||||||||||||||||||||||||||
Duke Energy Indiana | 27 | 5 | ||||||||||||||||||||||||||||
Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, Cinergy Receivables Company, LLC (CRC) and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 17 for further information. These receivables for unbilled revenues are shown in the table below. | ||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | ||||||||||||||||||||||||||||
Duke Energy Ohio | 79 | 89 | ||||||||||||||||||||||||||||
Duke Energy Indiana | 112 | 144 | ||||||||||||||||||||||||||||
Acquisitions_Dispositions_and_1
Acquisitions, Dispositions and Sales of Other Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Significant Acquisitions and Disposals [Line Items] | ||||||||||||||||||||||||||||
Schedule of Purchase Price Calculation | Total consideration transferred was based on the closing price of Duke Energy common shares on July 2, 2012, and was calculated as shown in the following table. | |||||||||||||||||||||||||||
(dollars in millions, except per share amounts; shares in thousands) | ||||||||||||||||||||||||||||
Progress Energy common shares outstanding at July 2, 2012 | 296,116 | |||||||||||||||||||||||||||
Exchange ratio | 0.87083 | |||||||||||||||||||||||||||
Duke Energy common shares issued for Progress Energy common shares outstanding | 257,867 | |||||||||||||||||||||||||||
Closing price of Duke Energy common shares on July 2, 2012 | $ | 69.84 | ||||||||||||||||||||||||||
Purchase price for common stock | $ | 18,009 | ||||||||||||||||||||||||||
Fair value of outstanding earned stock compensation awards | 62 | |||||||||||||||||||||||||||
Total purchase price | $ | 18,071 | ||||||||||||||||||||||||||
Schedule of Purchase Price Allocation | The completed purchase price allocation is presented in the following table. | |||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Current assets | $ | 3,204 | ||||||||||||||||||||||||||
Property, plant and equipment | 23,141 | |||||||||||||||||||||||||||
Goodwill | 12,469 | |||||||||||||||||||||||||||
Other long-term assets | 9,990 | |||||||||||||||||||||||||||
Total assets | 48,804 | |||||||||||||||||||||||||||
Current liabilities, including current maturities of long-term debt | 3,593 | |||||||||||||||||||||||||||
Long-term liabilities, preferred stock and noncontrolling interests | 10,394 | |||||||||||||||||||||||||||
Long-term debt | 16,746 | |||||||||||||||||||||||||||
Total liabilities and preferred stock | 30,733 | |||||||||||||||||||||||||||
Total purchase price | $ | 18,071 | ||||||||||||||||||||||||||
Pro Forma Information | The following unaudited pro forma financial information reflects the consolidated results of operations of Duke Energy and the amortization of purchase price adjustments assuming the merger had taken place on January 1, 2012. The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or future consolidated results of operations of Duke Energy. | |||||||||||||||||||||||||||
Non-recurring merger consummation, integration and other costs incurred by Duke Energy and Progress Energy during the period have been excluded from pro forma earnings presented below. After-tax non-recurring merger consummation, integration and other costs incurred by both Duke Energy and Progress Energy were $413 million for the year ended 2012. The pro forma financial information also excludes potential future cost savings or non-recurring charges related to the merger. | ||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||
(in millions, except per share amounts) | 2012 | |||||||||||||||||||||||||||
Revenues | $ | 23,976 | ||||||||||||||||||||||||||
Net Income Attributable to Duke Energy Corporation | 2,417 | |||||||||||||||||||||||||||
Basic and Diluted Earnings Per Share | 3.43 | |||||||||||||||||||||||||||
Accounting Charges Related to the Merger Consummation | The following pretax consummation charges were recognized upon closing of the merger and are included in the Duke Energy Registrants’ Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2012. | |||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
FERC Mitigation | $ | 117 | $ | 46 | $ | 71 | $ | 71 | $ | — | $ | — | $ | — | ||||||||||||||
Severance costs | 196 | 63 | 82 | 55 | 27 | 21 | 18 | |||||||||||||||||||||
Community support, charitable | 169 | 79 | 74 | 63 | 11 | 7 | 6 | |||||||||||||||||||||
contributions and other | ||||||||||||||||||||||||||||
Total | $ | 482 | $ | 188 | $ | 227 | $ | 189 | $ | 38 | $ | 28 | $ | 24 | ||||||||||||||
Generation Facilities of Disposal Group | The following table presents information related to the Duke Energy Ohio generation plants included in the Disposal Group. | |||||||||||||||||||||||||||
Facility | Plant Type | Primary Fuel | Location | Total MW Capacity(c) | Owned MW Capacity(c) | Ownership Interest | ||||||||||||||||||||||
Stuart(a)(b) | Fossil Steam | Coal | OH | 2,308 | 900 | 39 | % | |||||||||||||||||||||
Zimmer(a) | Fossil Steam | Coal | OH | 1,300 | 605 | 46.5 | % | |||||||||||||||||||||
Hanging Rock | Combined Cycle | Gas | OH | 1,226 | 1,226 | 100 | % | |||||||||||||||||||||
Miami Fort (Units 7 and 8)(a) | Fossil Steam | Coal | OH | 1,020 | 652 | 64 | % | |||||||||||||||||||||
Conesville(a)(b) | Fossil Steam | Coal | OH | 780 | 312 | 40 | % | |||||||||||||||||||||
Washington | Combined Cycle | Gas | OH | 617 | 617 | 100 | % | |||||||||||||||||||||
Fayette | Combined Cycle | Gas | PA | 614 | 614 | 100 | % | |||||||||||||||||||||
Killen(a)(b) | Fossil Steam | Coal | OH | 600 | 198 | 33 | % | |||||||||||||||||||||
Lee | Combustion Turbine | Gas | IL | 568 | 568 | 100 | % | |||||||||||||||||||||
Dick's Creek | Combustion Turbine | Gas | OH | 136 | 136 | 100 | % | |||||||||||||||||||||
Miami Fort | Combustion Turbine | Oil | OH | 56 | 56 | 100 | % | |||||||||||||||||||||
Total Midwest Generation | 9,225 | 5,884 | ||||||||||||||||||||||||||
(a) | Jointly owned with American Electric Power Generation Resources and/or The Dayton Power & Light Company. | |||||||||||||||||||||||||||
(b) | Station is not operated by Duke Energy Ohio | |||||||||||||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | The following table presents the results of discontinued operations. | |||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Operating Revenues | $ | 1,748 | $ | 1,885 | $ | 1,771 | ||||||||||||||||||||||
Estimated loss on disposition | (929 | ) | — | — | ||||||||||||||||||||||||
(Loss) Income before income taxes | $ | (818 | ) | $ | 141 | $ | 227 | |||||||||||||||||||||
Income tax (benefit) expense | (294 | ) | 56 | 82 | ||||||||||||||||||||||||
(Loss) Income from discontinued operations of the Disposal Group | (524 | ) | 85 | 145 | ||||||||||||||||||||||||
Other, net of tax(a) | (52 | ) | 1 | 26 | ||||||||||||||||||||||||
(Loss) Income from Discontinued Operations, net of tax | $ | (576 | ) | $ | 86 | $ | 171 | |||||||||||||||||||||
(a) | Other discontinued operations relate to prior sales of businesses and includes indemnifications provided for certain legal, tax and environmental matters, and foreign currency translation adjustments. | |||||||||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Operating Revenues | $ | 1,299 | $ | 1,503 | $ | 1,435 | ||||||||||||||||||||||
Estimated loss on disposition | (959 | ) | — | — | ||||||||||||||||||||||||
(Loss) Income before income taxes | $ | (863 | ) | $ | 67 | $ | 195 | |||||||||||||||||||||
Income tax (benefit) expense | (300 | ) | 32 | 65 | ||||||||||||||||||||||||
(Loss) Income from Discontinued Operations, net of tax | $ | (563 | ) | $ | 35 | $ | 130 | |||||||||||||||||||||
Disclosure of Long Lived Assets Held-for-sale | The following table presents the Disposal Group's carrying values in the Consolidated Balance Sheets' major classes of Assets held for sale. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Ohio | ||||||||||||||||||||||||||
Current assets | $ | 364 | $ | 316 | ||||||||||||||||||||||||
Investments and other assets | 52 | 46 | ||||||||||||||||||||||||||
Property, plant and equipment | 2,590 | 2,559 | ||||||||||||||||||||||||||
Total assets held for sale | $ | 3,006 | $ | 2,921 | ||||||||||||||||||||||||
Current liabilities | $ | 262 | $ | 246 | ||||||||||||||||||||||||
Deferred credits and other liabilities | 35 | 34 | ||||||||||||||||||||||||||
Total liabilities associated with assets held for sale | $ | 297 | $ | 280 | ||||||||||||||||||||||||
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Business Segment Data | The following table summarizes the net loss for Other for each of these entities. | |||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Duke Energy Carolinas | $ | (79 | ) | $ | (97 | ) | $ | (169 | ) | |||||||||||||||||||
Progress Energy | (190 | ) | (241 | ) | (379 | ) | ||||||||||||||||||||||
Duke Energy Progress | (31 | ) | (46 | ) | (139 | ) | ||||||||||||||||||||||
Duke Energy Florida | (19 | ) | (24 | ) | (58 | ) | ||||||||||||||||||||||
Duke Energy Indiana | (11 | ) | (16 | ) | (27 | ) | ||||||||||||||||||||||
The remainder of Duke Energy’s operations is presented as Other. While it is not an operating segment, Other primarily includes unallocated corporate interest expense, certain unallocated corporate costs, Bison Insurance Company Limited (Bison), Duke Energy’s wholly owned, captive insurance subsidiary, and contributions to the Duke Energy Foundation. On December 31, 2013, Duke Energy sold its interest in DukeNet Communications Holdings, LLC (DukeNet) to Time Warner Cable, Inc. | ||||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | |||||||||||||||||||||
Unaffiliated Revenues | $ | 22,228 | $ | 1,417 | $ | 255 | $ | 23,900 | $ | 25 | $ | — | $ | 23,925 | ||||||||||||||
Intersegment Revenues | 43 | — | — | 43 | 80 | (123 | ) | — | ||||||||||||||||||||
Total Revenues | $ | 22,271 | $ | 1,417 | $ | 255 | $ | 23,943 | $ | 105 | $ | (123 | ) | $ | 23,925 | |||||||||||||
Interest Expense | $ | 1,093 | $ | 93 | $ | 58 | $ | 1,244 | $ | 400 | $ | (22 | ) | $ | 1,622 | |||||||||||||
Depreciation and amortization | 2,759 | 97 | 92 | 2,948 | 118 | — | 3,066 | |||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | (3 | ) | 120 | 10 | 127 | 3 | — | 130 | ||||||||||||||||||||
Income tax expense (benefit)(a) | 1,628 | 449 | (171 | ) | 1,906 | (237 | ) | — | 1,669 | |||||||||||||||||||
Segment income(b)(c)(d) | 2,795 | 55 | (55 | ) | 2,795 | (334 | ) | (10 | ) | 2,451 | ||||||||||||||||||
Add back noncontrolling interest component | 14 | |||||||||||||||||||||||||||
Loss from discontinued operations, net of tax | (576 | ) | ||||||||||||||||||||||||||
Net income | $ | 1,889 | ||||||||||||||||||||||||||
Capital investments expenditures and acquisitions | $ | 4,744 | $ | 67 | $ | 555 | $ | 5,366 | $ | 162 | $ | — | $ | 5,528 | ||||||||||||||
Segment Assets | 106,657 | 5,132 | 6,278 | 118,067 | 2,453 | 189 | 120,709 | |||||||||||||||||||||
(a) | International Energy includes a tax adjustment of $373 million related to deferred tax impact resulting from the decision to repatriate all cumulative historical undistributed foreign earnings. See Note 22 for additional information. | |||||||||||||||||||||||||||
(b) | Commercial Power recorded a pretax impairment charge of $94 million related to OVEC. See Note 11 for additional information. | |||||||||||||||||||||||||||
(c) | Other includes costs to achieve the Progress Energy merger. See Notes 2 and 25 for additional information about the merger and related costs. | |||||||||||||||||||||||||||
(d) | Regulated Utilities includes an increase in the litigation reserve related to the criminal investigation of the Dan River coal ash spill. See Note 5 for additional information. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | |||||||||||||||||||||
Unaffiliated Revenues(a)(b)(c) | $ | 20,871 | $ | 1,546 | $ | 254 | $ | 22,671 | $ | 85 | $ | — | $ | 22,756 | ||||||||||||||
Intersegment Revenues | 39 | — | 6 | 45 | 90 | (135 | ) | — | ||||||||||||||||||||
Total Revenues | $ | 20,910 | $ | 1,546 | $ | 260 | $ | 22,716 | $ | 175 | $ | (135 | ) | $ | 22,756 | |||||||||||||
Interest Expense | $ | 986 | $ | 86 | $ | 61 | $ | 1,133 | $ | 416 | $ | (6 | ) | $ | 1,543 | |||||||||||||
Depreciation and amortization | 2,323 | 100 | 110 | 2,533 | 135 | — | 2,668 | |||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | (1 | ) | 110 | 7 | 116 | 6 | — | 122 | ||||||||||||||||||||
Income tax expense (benefit) | 1,522 | 166 | (148 | ) | 1,540 | (335 | ) | — | 1,205 | |||||||||||||||||||
Segment income (a)(b)(c)(d)(e)(f)(g) | 2,504 | 408 | (88 | ) | 2,824 | (238 | ) | (12 | ) | 2,574 | ||||||||||||||||||
Add back noncontrolling interest component | 16 | |||||||||||||||||||||||||||
Income from discontinued operations, net of tax | 86 | |||||||||||||||||||||||||||
Net income | $ | 2,676 | ||||||||||||||||||||||||||
Capital investments expenditures and acquisitions | $ | 5,049 | $ | 67 | $ | 268 | $ | 5,384 | $ | 223 | $ | — | $ | 5,607 | ||||||||||||||
Segment Assets | 99,884 | 4,998 | 6,955 | 111,837 | 2,754 | 188 | 114,779 | |||||||||||||||||||||
(a) | In May 2013, the PUCO approved a Duke Energy Ohio settlement agreement that provides for a net annual increase in electric distribution revenues beginning in May 2013. This rate increase impacts Regulated Utilities. See Note 4 for additional information. | |||||||||||||||||||||||||||
(b) | In June 2013, NCUC approved a Duke Energy Progress settlement agreement that included an increase in rates in the first year beginning in June 2013. This rate increase impacts Regulated Utilities. See Note 4 for additional information. | |||||||||||||||||||||||||||
(c) | In September 2013, Duke Energy Carolinas implemented revised customer rates approved by the NCUC and the PSCSC. These rate increases impact Regulated Utilities. See Note 4 for additional information. | |||||||||||||||||||||||||||
(d) | Regulated Utilities recorded an impairment charge related to Duke Energy Florida's Crystal River Unit 3. See Note 4 for additional information. | |||||||||||||||||||||||||||
(e) | Regulated Utilities recorded an impairment charge related to the letter Duke Energy Progress filed with the NRC requesting the NRC to suspend its review activities associated with the combined construction and operating license (COL) at the Harris site. Regulated Utilities also recorded an impairment charge related to the write-off of the wholesale portion of the Levy investments at Duke Energy Florida in accordance with the 2013 Settlement. See Note 4 for additional information. | |||||||||||||||||||||||||||
(f) | Other includes costs to achieve the Progress Energy merger. See Notes 2 and 25 for additional information about the merger and related costs. | |||||||||||||||||||||||||||
(g) | Other includes gain from the sale of Duke Energy's ownership interest in DukeNet. See Note 12 for additional information on the sale of DukeNet. | |||||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Reportable Segments | Other | Eliminations | Total | |||||||||||||||||||||
Unaffiliated Revenues | $ | 16,042 | $ | 1,549 | $ | 299 | $ | 17,890 | $ | 22 | $ | — | $ | 17,912 | ||||||||||||||
Intersegment Revenues | 38 | — | 8 | 46 | 62 | (108 | ) | — | ||||||||||||||||||||
Total Revenues | $ | 16,080 | $ | 1,549 | $ | 307 | $ | 17,936 | $ | 84 | $ | (108 | ) | $ | 17,912 | |||||||||||||
Interest Expense | $ | 806 | $ | 77 | $ | 63 | $ | 946 | $ | 298 | $ | — | $ | 1,244 | ||||||||||||||
Depreciation and amortization | 1,827 | 99 | 85 | 2,011 | 134 | — | 2,145 | |||||||||||||||||||||
Equity in earnings of unconsolidated affiliates | (5 | ) | 134 | 14 | 143 | 5 | — | 148 | ||||||||||||||||||||
Income tax expense (benefit) | 942 | 149 | (82 | ) | 1,009 | (386 | ) | — | 623 | |||||||||||||||||||
Segment income (a)(b) | 1,744 | 439 | (59 | ) | 2,124 | (523 | ) | (8 | ) | 1,593 | ||||||||||||||||||
Add back noncontrolling interest component | 18 | |||||||||||||||||||||||||||
Income from discontinued operations, net of tax | 171 | |||||||||||||||||||||||||||
Net income | $ | 1,782 | ||||||||||||||||||||||||||
Capital investments expenditures and acquisitions | $ | 4,220 | $ | 551 | $ | 1,038 | $ | 5,809 | $ | 149 | $ | — | $ | 5,958 | ||||||||||||||
Segment Assets | 98,162 | 5,406 | 6,992 | 110,560 | 3,126 | 170 | 113,856 | |||||||||||||||||||||
(a) | Regulated Utilities recorded charges related to Duke Energy Indiana's Integrated Gasification Combined Cycle | |||||||||||||||||||||||||||
(IGCC) project. See Note 4 for additional information about these charges. Regulated Utilities also recorded the reversal of expenses of $60 million, net of tax, related to a prior year Voluntary Opportunity Plan in accordance with Duke Energy Carolinas' 2011 rate case. See Note 19 for additional information about these expenses. | ||||||||||||||||||||||||||||
(b) | Other includes costs to achieve the Progress Energy merger. See Notes 2 and 25 for additional information about the merger and related costs. | |||||||||||||||||||||||||||
Schedule Of Revenue And Long-Lived Assets, By Geographical Area | Geographical Information | |||||||||||||||||||||||||||
(in millions) | U.S. | Latin America(a) | Consolidated | |||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||
Consolidated revenues | $ | 22,508 | $ | 1,417 | $ | 23,925 | ||||||||||||||||||||||
Consolidated long-lived assets | 80,709 | 2,458 | 83,167 | |||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Consolidated revenues | $ | 21,211 | $ | 1,545 | $ | 22,756 | ||||||||||||||||||||||
Consolidated long-lived assets | 78,581 | 2,781 | 81,362 | |||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Consolidated revenues | $ | 16,366 | $ | 1,546 | $ | 17,912 | ||||||||||||||||||||||
Consolidated long-lived assets | 79,144 | 2,467 | 81,611 | |||||||||||||||||||||||||
(a) | Change in amounts of long-lived assets in Latin America includes foreign currency translation adjustments on property, plant and equipment and other long-lived asset balances. | |||||||||||||||||||||||||||
Schedule of Revenue, By Products and Services | Products and Services | |||||||||||||||||||||||||||
(in millions) | Retail Electric | Wholesale Electric | Retail Natural Gas | Wholesale Natural Gas | Other | Total Revenues | ||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||
Regulated Utilities | $ | 19,007 | $ | 1,879 | $ | 571 | $ | — | $ | 814 | $ | 22,271 | ||||||||||||||||
International Energy | — | 1,326 | — | 91 | — | 1,417 | ||||||||||||||||||||||
Commercial Power | — | 255 | — | — | — | 255 | ||||||||||||||||||||||
Total Reportable Segments | $ | 19,007 | $ | 3,460 | $ | 571 | $ | 91 | $ | 814 | $ | 23,943 | ||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Regulated Utilities | $ | 17,837 | $ | 1,720 | $ | 506 | $ | — | $ | 847 | $ | 20,910 | ||||||||||||||||
International Energy | — | 1,447 | — | 99 | — | 1,546 | ||||||||||||||||||||||
Commercial Power | — | 260 | — | — | — | 260 | ||||||||||||||||||||||
Total Reportable Segments | $ | 17,837 | $ | 3,427 | $ | 506 | $ | 99 | $ | 847 | $ | 22,716 | ||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Regulated Utilities | $ | 13,773 | $ | 1,120 | $ | 470 | $ | — | $ | 717 | $ | 16,080 | ||||||||||||||||
International Energy | — | 1,444 | — | 105 | — | 1,549 | ||||||||||||||||||||||
Commercial Power | — | 307 | — | — | — | 307 | ||||||||||||||||||||||
Total Reportable Segments | $ | 13,773 | $ | 2,871 | $ | 470 | $ | 105 | $ | 717 | $ | 17,936 | ||||||||||||||||
Duke Energy Ohio [Member] | ||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Business Segment Data | The remainder of Duke Energy Ohio’s operations is presented as Other. While it is not considered an operating segment, Other primarily includes certain governance costs allocated by its parent, Duke Energy. See Note 13 for additional information. All of Duke Energy Ohio’s revenues are generated domestically and its long-lived assets are all in the U.S. | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | ||||||||||||||||||||||
Unaffiliated revenues | $ | 1,894 | $ | 19 | $ | 1,913 | $ | — | $ | — | $ | 1,913 | ||||||||||||||||
Intersegment revenues | 1 | — | 1 | — | (1 | ) | — | |||||||||||||||||||||
Total revenues | $ | 1,895 | $ | 19 | $ | 1,914 | $ | — | $ | (1 | ) | $ | 1,913 | |||||||||||||||
Interest expense | $ | 81 | $ | 5 | $ | 86 | $ | — | $ | — | $ | 86 | ||||||||||||||||
Depreciation and amortization | 211 | 2 | 213 | 1 | — | 214 | ||||||||||||||||||||||
Income tax expense (benefit) | 117 | (67 | ) | 50 | (7 | ) | — | 43 | ||||||||||||||||||||
Segment income (loss)(a) | 202 | (121 | ) | 81 | (13 | ) | — | 68 | ||||||||||||||||||||
Income from discontinued operations, net of tax | (563 | ) | ||||||||||||||||||||||||||
Net loss | $ | (495 | ) | |||||||||||||||||||||||||
Capital expenditures | $ | 300 | $ | 22 | $ | 322 | $ | — | $ | — | $ | 322 | ||||||||||||||||
Segment assets | 6,908 | 3,187 | 10,095 | 134 | (230 | ) | 9,999 | |||||||||||||||||||||
(a) | Commercial Power recorded a pretax impairment charge of $94 million related to OVEC. See Note 11 for additional information. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | ||||||||||||||||||||||
Unaffiliated revenues | $ | 1,765 | $ | 40 | $ | 1,805 | $ | — | $ | — | $ | 1,805 | ||||||||||||||||
Total revenues | $ | 1,765 | $ | 40 | $ | 1,805 | $ | — | $ | — | $ | 1,805 | ||||||||||||||||
Interest expense | $ | 74 | $ | — | $ | 74 | $ | — | $ | — | $ | 74 | ||||||||||||||||
Depreciation and amortization | 200 | 13 | 213 | — | — | 213 | ||||||||||||||||||||||
Income tax expense (benefit) | 91 | (36 | ) | 55 | (12 | ) | — | 43 | ||||||||||||||||||||
Segment income (loss) | 151 | (65 | ) | 86 | (19 | ) | — | 67 | ||||||||||||||||||||
Income from discontinued operations, net of tax | 35 | |||||||||||||||||||||||||||
Net income | $ | 102 | ||||||||||||||||||||||||||
Capital expenditures | $ | 375 | $ | 58 | $ | 433 | $ | — | $ | — | $ | 433 | ||||||||||||||||
Segment assets | 6,649 | 4,170 | 10,819 | 99 | (155 | ) | 10,763 | |||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total Reportable Segments | Other | Eliminations | Total | ||||||||||||||||||||||
Unaffiliated revenues | $ | 1,745 | $ | 75 | $ | 1,820 | $ | — | $ | — | $ | 1,820 | ||||||||||||||||
Intersegment revenues | 1 | 1 | 2 | — | (2 | ) | — | |||||||||||||||||||||
Total revenues | $ | 1,746 | $ | 76 | $ | 1,822 | $ | — | $ | (2 | ) | $ | 1,820 | |||||||||||||||
Interest expense | $ | 61 | $ | 28 | $ | 89 | $ | — | $ | — | $ | 89 | ||||||||||||||||
Depreciation and amortization | 179 | 16 | 195 | — | — | 195 | ||||||||||||||||||||||
Income tax expense (benefit) | 91 | (40 | ) | 51 | (18 | ) | — | 33 | ||||||||||||||||||||
Segment income (loss) | 159 | (80 | ) | 79 | (34 | ) | — | 45 | ||||||||||||||||||||
Income from discontinued operations, net of tax | 130 | |||||||||||||||||||||||||||
Net income | $ | 175 | ||||||||||||||||||||||||||
Capital expenditures | $ | 427 | $ | 87 | $ | 514 | $ | — | $ | — | $ | 514 | ||||||||||||||||
Segment assets | 6,434 | 4,175 | 10,609 | 117 | (166 | ) | 10,560 | |||||||||||||||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Assets | ||||||||||||||||||||||||||||
Asset retirement obligations | $ | 3,017 | $ | 907 | $ | 1,882 | $ | 1,584 | $ | 298 | $ | — | $ | — | ||||||||||||||
Accrued pension and OPEB | 2,015 | 412 | 812 | 354 | 458 | 132 | 217 | |||||||||||||||||||||
Retired generation facilities | 1,659 | 58 | 1,545 | 152 | 1,393 | — | 56 | |||||||||||||||||||||
Debt fair value adjustment | 1,305 | — | — | — | — | — | — | |||||||||||||||||||||
Net regulatory asset related to income taxes | 1,144 | 614 | 354 | 141 | 213 | 64 | 111 | |||||||||||||||||||||
Hedge costs and other deferrals | 628 | 103 | 490 | 217 | 273 | 7 | 28 | |||||||||||||||||||||
Demand side management (DSM)/Energy efficiency (EE) | 330 | 106 | 203 | 193 | 10 | 21 | — | |||||||||||||||||||||
Grid Modernization | 76 | — | — | — | — | 76 | — | |||||||||||||||||||||
Vacation accrual | 213 | 86 | 46 | 46 | — | 6 | 12 | |||||||||||||||||||||
Deferred fuel | 246 | 50 | 182 | 138 | 44 | 9 | 5 | |||||||||||||||||||||
Nuclear deferral | 296 | 141 | 155 | 43 | 112 | — | — | |||||||||||||||||||||
Post-in-service carrying costs and deferred operating expenses | 494 | 124 | 121 | 28 | 93 | 21 | 228 | |||||||||||||||||||||
Gasification services agreement buyout | 55 | — | — | — | — | — | 55 | |||||||||||||||||||||
Transmission expansion obligation | 70 | — | — | — | — | 74 | — | |||||||||||||||||||||
Manufactured gas plant (MGP) | 115 | — | — | — | — | 115 | — | |||||||||||||||||||||
Other | 494 | 263 | 109 | 66 | 42 | 36 | 66 | |||||||||||||||||||||
Total regulatory assets | 12,157 | 2,864 | 5,899 | 2,962 | 2,936 | 561 | 778 | |||||||||||||||||||||
Less: current portion | 1,115 | 399 | 491 | 287 | 203 | 49 | 93 | |||||||||||||||||||||
Total non-current regulatory assets | $ | 11,042 | $ | 2,465 | $ | 5,408 | $ | 2,675 | $ | 2,733 | $ | 512 | $ | 685 | ||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Assets | ||||||||||||||||||||||||||||
Asset retirement obligations | $ | 1,608 | $ | 123 | 786 | $ | 389 | $ | 397 | $ | — | $ | — | |||||||||||||||
Accrued pension and OPEB | 1,723 | 347 | 750 | 269 | 438 | 120 | 219 | |||||||||||||||||||||
Retired generation facilities | 1,748 | 68 | 1,619 | 241 | 1,378 | — | 61 | |||||||||||||||||||||
Debt fair value adjustment | 1,338 | — | — | — | — | — | — | |||||||||||||||||||||
Net regulatory asset related to income taxes | 1,115 | 555 | 331 | 113 | 218 | 72 | 157 | |||||||||||||||||||||
Hedge costs and other deferrals | 450 | 98 | 318 | 165 | 153 | 5 | 29 | |||||||||||||||||||||
DSM/EE | 306 | 140 | 152 | 140 | 12 | 14 | — | |||||||||||||||||||||
Grid Modernization | 65 | — | — | — | — | 65 | — | |||||||||||||||||||||
Vacation accrual | 210 | 82 | 55 | 50 | — | 7 | 13 | |||||||||||||||||||||
Deferred fuel | 94 | — | 37 | 6 | 31 | 14 | 43 | |||||||||||||||||||||
Nuclear deferral | 262 | 40 | 222 | 77 | 145 | — | — | |||||||||||||||||||||
Post-in-service carrying costs and deferred operating expenses | 459 | 150 | 137 | 19 | 118 | 21 | 151 | |||||||||||||||||||||
Gasification services agreement buyout | 75 | — | — | — | — | — | 75 | |||||||||||||||||||||
Transmission expansion obligation | 70 | — | — | — | — | 74 | — | |||||||||||||||||||||
MGP | 90 | — | — | — | — | 90 | — | |||||||||||||||||||||
Other | 473 | 219 | 101 | 42 | 60 | 46 | 87 | |||||||||||||||||||||
Total regulatory assets | 10,086 | 1,822 | 4,508 | 1,511 | 2,950 | 528 | 835 | |||||||||||||||||||||
Less: current portion | 895 | 295 | 353 | 127 | 221 | 57 | 118 | |||||||||||||||||||||
Total non-current regulatory assets | $ | 9,191 | $ | 1,527 | $ | 4,155 | $ | 1,384 | $ | 2,729 | $ | 471 | $ | 717 | ||||||||||||||
Schedule Of Regulatory Liabilities | ||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Liabilities | ||||||||||||||||||||||||||||
Costs of removal | $ | 5,308 | $ | 2,423 | $ | 2,008 | $ | 1,637 | $ | 371 | $ | 241 | $ | 645 | ||||||||||||||
Amounts to be refunded to customers | 151 | — | 120 | — | 120 | — | 31 | |||||||||||||||||||||
Storm reserve | 145 | 20 | 125 | — | 125 | — | — | |||||||||||||||||||||
Accrued pension and OPEB | 138 | — | — | — | — | 21 | 77 | |||||||||||||||||||||
Deferred fuel | 177 | 45 | 132 | — | 132 | — | — | |||||||||||||||||||||
Other | 346 | 153 | 114 | 99 | 14 | 27 | 45 | |||||||||||||||||||||
Total regulatory liabilities | 6,265 | 2,641 | 2,499 | 1,736 | 762 | 289 | 798 | |||||||||||||||||||||
Less: current portion | 316 | 65 | 207 | 63 | 144 | 27 | 16 | |||||||||||||||||||||
Total non-current regulatory liabilities | $ | 5,949 | $ | 2,576 | $ | 2,292 | $ | 1,673 | $ | 618 | $ | 262 | $ | 782 | ||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory Liabilities | ||||||||||||||||||||||||||||
Costs of removal | $ | 5,221 | $ | 2,420 | $ | 1,975 | $ | 1,692 | $ | 283 | $ | 222 | $ | 613 | ||||||||||||||
Amounts to be refunded to customers | 166 | — | 70 | — | 70 | — | 96 | |||||||||||||||||||||
Storm reserve | 150 | 25 | 125 | — | 125 | — | — | |||||||||||||||||||||
Accrued pension and OPEB | 379 | 76 | 121 | 61 | 60 | 19 | 91 | |||||||||||||||||||||
Deferred fuel | 37 | 6 | 23 | 23 | — | — | 8 | |||||||||||||||||||||
Other | 444 | 217 | 171 | 127 | 44 | 10 | 42 | |||||||||||||||||||||
Total regulatory liabilities | 6,397 | 2,744 | 2,485 | 1,903 | 582 | 251 | 850 | |||||||||||||||||||||
Less: current portion | 204 | 34 | 106 | 71 | 35 | 10 | 54 | |||||||||||||||||||||
Total non-current regulatory liabilities | $ | 6,193 | $ | 2,710 | $ | 2,379 | $ | 1,832 | $ | 547 | $ | 241 | $ | 796 | ||||||||||||||
Schedule of Potential Plant Retirements | The table below contains the net carrying value of generating facilities planned for early retirement or being evaluated for potential retirement included in Net property, plant and equipment on the Consolidated Balance Sheets, excluding the Duke Energy Carolinas 170 MW Lee Unit 3 which is being converted to gas in 2015. | |||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
Duke Energy | Progress Energy(b) | Duke Energy Florida(b) | Duke Energy Ohio(c) | Duke Energy Indiana(d) | ||||||||||||||||||||||||
Capacity (in MW) | 1,704 | 873 | 873 | 163 | 668 | |||||||||||||||||||||||
Remaining net book value (in millions)(a) | $ | 239 | $ | 114 | $ | 114 | $ | 9 | $ | 116 | ||||||||||||||||||
(a) | Included in Net property, plant and equipment as of December 31, 2014, on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(b) | Includes Crystal River Units 1 and 2. | |||||||||||||||||||||||||||
(c) | Includes Miami Fort Unit 6 which is expected to be retired by June 1, 2015. | |||||||||||||||||||||||||||
(d) | Includes Wabash River Units 2 through 6. Wabash River Unit 6 is being evaluated for potential conversion to gas. Duke Energy Indiana committed to retire or convert these units by June 2018 in conjunction with a settlement agreement associated with the Edwardsport air permit. | |||||||||||||||||||||||||||
Duke Energy Ohio [Member] | ||||||||||||||||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||||||||||||||||
Schedule of MISO Exit Fee Obligations | The following table provides a reconciliation of the beginning and ending balance of Duke Energy Ohio’s recorded obligations related to its withdrawal from MISO. As of December 31, 2014, $74 million is recorded as a Regulatory asset on Duke Energy Ohio's Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(in millions) | 31-Dec-13 | Provision / Adjustments | Cash Reductions | 31-Dec-14 | ||||||||||||||||||||||||
Duke Energy Ohio | $ | 95 | $ | 3 | $ | (4 | ) | $ | 94 | |||||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Table) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||||||||||||||||||||||||||
Schedule of Additional Possible Losses in Excess of Recorded Environmental Reserves | Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are presented in the table below. | ||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Duke Energy | $ | 89 | |||||||||||||||||||||||||||
Duke Energy Carolinas | 25 | ||||||||||||||||||||||||||||
Progress Energy | 15 | ||||||||||||||||||||||||||||
Duke Energy Progress | 1 | ||||||||||||||||||||||||||||
Duke Energy Florida | 14 | ||||||||||||||||||||||||||||
Duke Energy Ohio | 42 | ||||||||||||||||||||||||||||
Duke Energy Indiana | 7 | ||||||||||||||||||||||||||||
Schedule of Loss Contingencies | The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters discussed above, excluding asbestos related reserves. Reserves are classified on the Consolidated Balance Sheets in Other within Deferred Credits and Other Liabilities and Accounts payable and Other within Current Liabilities. The reasonably possible range of loss for all non-asbestos related matters in excess of recorded reserves is not material. | ||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | |||||||||||||||||||||||||||
Reserves for Legal Matters | |||||||||||||||||||||||||||||
Duke Energy | $ | 323 | $ | 204 | |||||||||||||||||||||||||
Duke Energy Carolinas | 72 | — | |||||||||||||||||||||||||||
Progress Energy | 93 | 78 | |||||||||||||||||||||||||||
Duke Energy Progress | 37 | 10 | |||||||||||||||||||||||||||
Duke Energy Florida | 36 | 43 | |||||||||||||||||||||||||||
Schedule of Purchase Obligations | The following table presents executory purchased power contracts, excluding contracts classified as leases. All contracts represent 100 percent of net plant output. | ||||||||||||||||||||||||||||
Minimum Purchase Amount at December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | Contract Expiration | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Duke Energy Progress | 2019-2022 | $ | 59 | 60 | $ | 61 | $ | 62 | $ | 63 | $ | 93 | $ | 398 | |||||||||||||||
Duke Energy Florida | 2023-2043 | 244 | 273 | 291 | 306 | 322 | 1,907 | 3,343 | |||||||||||||||||||||
Schedule of Rent Expense | The following table presents rental expense for operating leases. These amounts are included in Operation, maintenance and other on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||
Duke Energy | $ | 355 | $ | 321 | $ | 232 | |||||||||||||||||||||||
Duke Energy Carolinas | 41 | 39 | 38 | ||||||||||||||||||||||||||
Progress Energy | 257 | 225 | 232 | ||||||||||||||||||||||||||
Duke Energy Progress | 161 | 153 | 164 | ||||||||||||||||||||||||||
Duke Energy Florida | 96 | 72 | 68 | ||||||||||||||||||||||||||
Duke Energy Ohio | 17 | 14 | 14 | ||||||||||||||||||||||||||
Duke Energy Indiana | 21 | 22 | 20 | ||||||||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases | The following table presents future minimum lease payments under operating leases, which at inception had a non-cancelable term of more than one year. | ||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
2015 | $ | 205 | $ | 33 | $ | 129 | $ | 65 | $ | 64 | $ | 12 | $ | 17 | |||||||||||||||
2016 | 198 | 29 | 130 | 66 | 64 | 11 | 15 | ||||||||||||||||||||||
2017 | 172 | 26 | 111 | 65 | 46 | 9 | 13 | ||||||||||||||||||||||
2018 | 157 | 20 | 109 | 64 | 45 | 7 | 10 | ||||||||||||||||||||||
2019 | 148 | 17 | 103 | 58 | 45 | 6 | 9 | ||||||||||||||||||||||
Thereafter | 938 | 64 | 709 | 421 | 288 | 18 | 9 | ||||||||||||||||||||||
Total | $ | 1,818 | $ | 189 | $ | 1,291 | $ | 739 | $ | 552 | $ | 63 | $ | 73 | |||||||||||||||
Schedule of Future Minimum Lease Payments for Capital Leases | The following table presents future minimum lease payments under capital leases. | ||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
2015 | $ | 178 | $ | 6 | $ | 46 | $ | 21 | $ | 26 | $ | 7 | $ | 4 | |||||||||||||||
2016 | 188 | 6 | 47 | 21 | 26 | 7 | 4 | ||||||||||||||||||||||
2017 | 190 | 7 | 47 | 21 | 26 | 3 | 2 | ||||||||||||||||||||||
2018 | 198 | 7 | 48 | 22 | 26 | 4 | 2 | ||||||||||||||||||||||
2019 | 208 | 8 | 51 | 25 | 26 | 2 | 2 | ||||||||||||||||||||||
Thereafter | 1,771 | 60 | 678 | 398 | 280 | — | 42 | ||||||||||||||||||||||
Minimum annual payments | 2,733 | 94 | 917 | 508 | 410 | 23 | 56 | ||||||||||||||||||||||
Less: amount representing interest | (1,305 | ) | (67 | ) | (603 | ) | (361 | ) | (242 | ) | (3 | ) | (39 | ) | |||||||||||||||
Total | $ | 1,428 | $ | 27 | $ | 314 | $ | 147 | $ | 168 | $ | 20 | $ | 17 | |||||||||||||||
Reserve for Environmental Costs [Member] | |||||||||||||||||||||||||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||||||||||||||||||||||||||
Schedule of Loss Contingencies | The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Balance at December 31, 2011 | 61 | 12 | 23 | 11 | 12 | 28 | 9 | ||||||||||||||||||||||
Provisions / adjustments | 39 | 1 | 19 | 5 | 14 | 5 | 3 | ||||||||||||||||||||||
Cash reductions | (25 | ) | (1 | ) | (9 | ) | (2 | ) | (7 | ) | (18 | ) | (4 | ) | |||||||||||||||
Balance at December 31, 2012 | 75 | 12 | 33 | 14 | 19 | 15 | 8 | ||||||||||||||||||||||
Provisions / adjustments | 26 | — | 4 | (1 | ) | 5 | 20 | 1 | |||||||||||||||||||||
Cash reductions | (22 | ) | (1 | ) | (10 | ) | (5 | ) | (5 | ) | (8 | ) | (2 | ) | |||||||||||||||
Balance at December 31, 2013 | 79 | 11 | 27 | 8 | 19 | 27 | 7 | ||||||||||||||||||||||
Provisions / adjustments | 32 | (1 | ) | 1 | 4 | (3 | ) | 28 | 4 | ||||||||||||||||||||
Cash reductions | (14 | ) | — | (11 | ) | (7 | ) | (4 | ) | (1 | ) | (1 | ) | ||||||||||||||||
Balance at December 31, 2014 | 97 | 10 | 17 | 5 | 12 | 54 | 10 | ||||||||||||||||||||||
Debt_and_Credit_Facilities_Tab
Debt and Credit Facilities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||
Schedule of Debt | The following tables show short-term obligations classified as long-term debt. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||||
Tax-exempt bonds | $ | 347 | $ | 35 | $ | 27 | $ | 285 | ||||||||||||||||||||
Commercial paper | 475 | 300 | 25 | 150 | ||||||||||||||||||||||||
Secured debt(a) | 200 | — | — | — | ||||||||||||||||||||||||
Total | $ | 1,022 | $ | 335 | $ | 52 | $ | 435 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||||
Tax exempt bonds | $ | 471 | $ | 75 | $ | 111 | $ | 285 | ||||||||||||||||||||
Commercial paper | 450 | 300 | — | 150 | ||||||||||||||||||||||||
Secured debt(a) | 200 | — | — | — | ||||||||||||||||||||||||
Total | $ | 1,121 | $ | 375 | $ | 111 | $ | 435 | ||||||||||||||||||||
(a) | Instrument has a term of less than one year with the right to extend the maturity date for additional one-year periods with a final maturity date no later than December 2026. | |||||||||||||||||||||||||||
The following 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, 2014 | |||||||||||||||||||||||||
Unsecured Debt | ||||||||||||||||||||||||||||
Duke Energy (Parent) | Apr-15 | 3.35 | % | $ | 450 | |||||||||||||||||||||||
First Mortgage Bonds | ||||||||||||||||||||||||||||
Duke Energy Ohio | Mar-15 | 0.375 | % | 150 | ||||||||||||||||||||||||
Duke Energy Progress | Apr-15 | 5.15 | % | 300 | ||||||||||||||||||||||||
Duke Energy Carolinas | Oct-15 | 5.3 | % | 500 | ||||||||||||||||||||||||
Duke Energy Florida | Nov-15 | 0.65 | % | 250 | ||||||||||||||||||||||||
Duke Energy Florida | Dec-15 | 5.1 | % | 300 | ||||||||||||||||||||||||
Duke Energy Progress | Dec-15 | 5.25 | % | 400 | ||||||||||||||||||||||||
Tax-exempt Bonds | ||||||||||||||||||||||||||||
Duke Energy Progress | Jan-15 | 0.108 | % | 243 | ||||||||||||||||||||||||
Other | 214 | |||||||||||||||||||||||||||
Current maturities of long-term debt | $ | 2,807 | ||||||||||||||||||||||||||
The following tables summarize outstanding debt. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Weighted Average Interest Rate | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||
Unsecured debt, maturing 2015 - 2073 | 4.92 | % | $ | 12,937 | $ | 1,155 | $ | 3,850 | $ | — | $ | 150 | $ | 773 | $ | 742 | ||||||||||||
Secured debt, maturing 2016 - 2037 | 2.5 | % | 2,806 | 400 | 525 | 300 | 225 | — | — | |||||||||||||||||||
First mortgage bonds, maturing 2015 - 2044(a) | 4.76 | % | 19,180 | 6,161 | 9,800 | 5,475 | 4,325 | 900 | 2,319 | |||||||||||||||||||
Capital leases, maturing 2015 - 2051(b) | 5.3 | % | 1,428 | 27 | 314 | 146 | 168 | 20 | 16 | |||||||||||||||||||
Tax-exempt bonds, maturing 2015 - 2041(c) | 2.13 | % | 1,296 | 355 | 291 | 291 | — | 77 | 573 | |||||||||||||||||||
Notes payable and commercial paper(d) | 0.7 | % | 2,989 | — | — | — | — | — | — | |||||||||||||||||||
Money pool/intercompany borrowings | — | 300 | 835 | — | 84 | 516 | 221 | |||||||||||||||||||||
Fair value hedge carrying value adjustment | 8 | 8 | — | — | — | — | — | |||||||||||||||||||||
Unamortized debt discount and premium, net(e) | 1,890 | (15 | ) | (26 | ) | (11 | ) | (8 | ) | (29 | ) | (9 | ) | |||||||||||||||
Total debt | 4.29 | % | $ | 42,534 | $ | 8,391 | $ | 15,589 | $ | 6,201 | $ | 4,944 | $ | 2,257 | $ | 3,862 | ||||||||||||
Short-term notes payable and commercial paper | (2,514 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Short-term money pool borrowings | — | — | (835 | ) | — | (84 | ) | (491 | ) | (71 | ) | |||||||||||||||||
Current maturities of long-term debt(f) | (2,807 | ) | (507 | ) | (1,507 | ) | (945 | ) | (562 | ) | (157 | ) | (5 | ) | ||||||||||||||
Total long-term debt(f) | 4.58 | % | $ | 37,213 | $ | 7,884 | $ | 13,247 | $ | 5,256 | $ | 4,298 | $ | 1,609 | $ | 3,786 | ||||||||||||
(a) Substantially all electric utility property is mortgaged under mortgage bond indentures. | ||||||||||||||||||||||||||||
(b) | Duke Energy includes $129 million and $787 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. | |||||||||||||||||||||||||||
(c) | Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. | |||||||||||||||||||||||||||
(d) | Includes $475 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted-average days to maturity was 27 days. | |||||||||||||||||||||||||||
(e) | Duke Energy includes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information. | |||||||||||||||||||||||||||
(f) | Refer to Note 17 for additional information on amounts from consolidated VIE’s. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Weighted Average Interest Rate | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||
Unsecured debt, maturing 2014 - 2073 | 5.18 | % | $ | 13,550 | $ | 1,157 | $ | 4,150 | $ | — | $ | 150 | $ | 805 | $ | 744 | ||||||||||||
Secured debt, maturing 2014 - 2037 | 2.69 | % | 2,559 | 400 | 305 | 305 | — | — | — | |||||||||||||||||||
First mortgage bonds, maturing 2015 - 2043(a) | 4.9 | % | 17,831 | 6,161 | 8,450 | 4,125 | 4,325 | 900 | 2,319 | |||||||||||||||||||
Capital leases, maturing 2014 - 2051(b) | 5.23 | % | 1,516 | 30 | 327 | 148 | 179 | 27 | 20 | |||||||||||||||||||
Other debt, maturing 2027 | 4.77 | % | 8 | — | — | — | — | 8 | — | |||||||||||||||||||
Tax-exempt bonds, maturing 2014 - 2041(c) | 1.28 | % | 2,356 | 395 | 910 | 669 | 241 | 479 | 573 | |||||||||||||||||||
Notes payable and commercial paper(d) | 1.02 | % | 1,289 | — | — | — | — | — | — | |||||||||||||||||||
Money pool/intercompany borrowings | — | 300 | 1,213 | 462 | 181 | 43 | 150 | |||||||||||||||||||||
Fair value hedge carrying value adjustment | 9 | 9 | — | — | — | — | — | |||||||||||||||||||||
Unamortized debt discount and premium, net(e) | 1,977 | (16 | ) | (27 | ) | (12 | ) | (9 | ) | (31 | ) | (10 | ) | |||||||||||||||
Total debt | 4.52 | % | $ | 41,095 | $ | 8,436 | $ | 15,328 | $ | 5,697 | $ | 5,067 | $ | 2,231 | $ | 3,796 | ||||||||||||
Short-term notes payable and commercial paper | (839 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Short-term money pool borrowings | — | — | (1,213 | ) | (462 | ) | (181 | ) | (43 | ) | — | |||||||||||||||||
Current maturities of long-term debt(f) | (2,104 | ) | (47 | ) | (485 | ) | (174 | ) | (11 | ) | (47 | ) | (5 | ) | ||||||||||||||
Total long-term debt(f) | 4.59 | % | $ | 38,152 | $ | 8,389 | $ | 13,630 | $ | 5,061 | $ | 4,875 | $ | 2,141 | $ | 3,791 | ||||||||||||
(a) Substantially all electric utility property is mortgaged under mortgage bond indentures. | ||||||||||||||||||||||||||||
(b) | Duke Energy includes $144 million and $838 million of capital lease purchase accounting adjustments related to Duke Energy Progress and Duke Energy Florida, respectively, related to power purchase agreements that are not accounted for as capital leases in their respective financial statements because of grandfathering provisions in GAAP. | |||||||||||||||||||||||||||
(c) | Substantially all tax-exempt bonds are secured by first mortgage bonds or letters of credit. | |||||||||||||||||||||||||||
(d) | Includes $450 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that back-stop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted-average days to maturity was 49 days. | |||||||||||||||||||||||||||
(e) | Duke Energy includes $2,067 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information. | |||||||||||||||||||||||||||
(f) | Refer to Note 17 for additional information on amounts from consolidated VIE’s. | |||||||||||||||||||||||||||
Schedule of Maturities of Long-term Debt | The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable and commercial paper and money pool borrowings for the Subsidiary Registrants. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy(a) | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
2015 | $ | 2,793 | $ | 507 | $ | 1,507 | $ | 945 | $ | 562 | $ | 157 | $ | 5 | ||||||||||||||
2016 | 2,980 | 756 | 614 | 302 | 12 | 57 | 480 | |||||||||||||||||||||
2017 | 2,452 | 116 | 940 | 453 | 487 | 3 | 3 | |||||||||||||||||||||
2018 | 3,207 | 1,505 | 515 | 3 | 512 | 28 | 153 | |||||||||||||||||||||
2019 | 2,810 | 5 | 1,418 | 606 | 12 | 552 | 62 | |||||||||||||||||||||
Thereafter | 23,803 | 5,502 | 9,760 | 3,892 | 3,275 | 969 | 3,088 | |||||||||||||||||||||
Total long-term debt, including current maturities | $ | 38,045 | $ | 8,391 | $ | 14,754 | $ | 6,201 | $ | 4,860 | $ | 1,766 | $ | 3,791 | ||||||||||||||
(a) | Excludes $1,975 million in purchase accounting adjustments related to the merger with Progress Energy. See Note 2 for additional information. | |||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments | The following tables summarize significant debt issuances (in millions). | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
Issuance Date | Maturity Date | Interest Rate | Duke Energy (Parent) | Duke Energy Progress | Duke Energy Florida | Duke Energy | ||||||||||||||||||||||
Unsecured Debt | ||||||||||||||||||||||||||||
April 2014(a) | Apr-24 | 3.75 | % | 600 | — | — | 600 | |||||||||||||||||||||
April 2014(a)(b) | Apr-17 | 0.613 | % | 400 | — | — | 400 | |||||||||||||||||||||
June 2014(c) | May-19 | 11.97 | % | — | — | — | 108 | |||||||||||||||||||||
June 2014(c) | May-21 | 13.68 | % | — | — | — | 110 | |||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
March 2014(d) | Mar-17 | 0.863 | % | — | — | 225 | 225 | |||||||||||||||||||||
July 2014(e) | Jul-36 | 5.34 | % | — | — | — | 129 | |||||||||||||||||||||
First Mortgage Bonds | ||||||||||||||||||||||||||||
March 2014(f) | Mar-44 | 4.375 | % | — | 400 | — | 400 | |||||||||||||||||||||
March 2014(f)(g) | Mar-17 | 0.435 | % | — | 250 | — | 250 | |||||||||||||||||||||
November 2014(h) | Dec-44 | 4.15 | % | — | 500 | — | 500 | |||||||||||||||||||||
November 2014(g)(h) | Nov-17 | 0.432 | % | — | 200 | — | 200 | |||||||||||||||||||||
Total issuances | $ | 1,000 | $ | 1,350 | $ | 225 | $ | 2,922 | ||||||||||||||||||||
(a) | Proceeds were used to redeem $402 million of tax-exempt bonds at Duke Energy Ohio, the repayment of outstanding commercial paper and for general corporate purposes. See Note 13 for additional information related to the redemption of Duke Energy Ohio's tax-exempt bonds. | |||||||||||||||||||||||||||
(b) | The debt is floating rate based on three-month London Interbank Offered Rate (LIBOR) plus a fixed credit spread of 38 basis points. | |||||||||||||||||||||||||||
(c) | Proceeds were used to repay $196 million of debt for International Energy and for general corporate purposes. | |||||||||||||||||||||||||||
(d) | Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Florida. Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. See Note 17 for further details. | |||||||||||||||||||||||||||
(e) | Proceeds were used to fund a portion of Duke Energy's prior investment in the existing Wind Star renewables portfolio. | |||||||||||||||||||||||||||
(f) | Proceeds were used to repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. | |||||||||||||||||||||||||||
(g) | The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 20 basis points. | |||||||||||||||||||||||||||
(h) | Proceeds will be used to redeem $450 million of tax-exempt bonds, repay short-term borrowings under the intercompany money pool borrowing arrangement and for general corporate purposes. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
Issuance Date | Maturity Date | Interest Rate | Duke Energy (Parent) | Duke Energy Progress | Duke Energy Ohio | Duke Energy Indiana | Duke Energy | |||||||||||||||||||||
Unsecured Debt | ||||||||||||||||||||||||||||
January 2013(a) | Jan-73 | 5.125 | % | $ | 500 | $ | — | $ | — | $ | — | $ | 500 | |||||||||||||||
June 2013(b) | Jun-18 | 2.1 | % | 500 | — | — | — | 500 | ||||||||||||||||||||
August 2013(c)(d) | Aug-23 | 11 | % | ― | — | — | — | 220 | ||||||||||||||||||||
October 2013(e) | Oct-23 | 3.95 | % | 400 | — | — | — | 400 | ||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
February 2013(f)(g) | Dec-30 | 2.043 | % | — | — | — | — | 203 | ||||||||||||||||||||
February 2013(f) | Jun-37 | 4.74 | % | — | — | — | — | 220 | ||||||||||||||||||||
April 2013(h) | Apr-26 | 5.456 | % | — | — | — | — | 230 | ||||||||||||||||||||
December 2013(i) | Dec-16 | 0.852 | % | — | 300 | — | — | 300 | ||||||||||||||||||||
First Mortgage Bonds | ||||||||||||||||||||||||||||
March 2013(j) | Mar-43 | 4.1 | % | — | 500 | — | — | 500 | ||||||||||||||||||||
July 2013(k) | Jul-43 | 4.9 | % | — | — | — | 350 | 350 | ||||||||||||||||||||
July 2013(k)(l) | Jul-16 | 0.619 | % | — | — | — | 150 | 150 | ||||||||||||||||||||
September 2013(m) | Sep-23 | 3.8 | % | — | — | 300 | — | 300 | ||||||||||||||||||||
September 2013(m)(n) | Mar-15 | 0.4 | % | — | — | 150 | — | 150 | ||||||||||||||||||||
Total issuances | $ | 1,400 | $ | 800 | $ | 450 | $ | 500 | $ | 4,023 | ||||||||||||||||||
(a) | Callable after January 2018 at par. Proceeds were used to redeem the $300 million 7.10% Cumulative Quarterly Income Preferred Securities (QUIPS) and to repay a portion of outstanding commercial paper and for general corporate purposes. | |||||||||||||||||||||||||||
(b) | Proceeds were used to repay $250 million of current maturities and for general corporate purposes, including the repayment of outstanding commercial paper. | |||||||||||||||||||||||||||
(c) | Proceeds were used to repay $200 million of current maturities. The maturity date included above applies to half of the instrument. The remaining half matures in August 2018. | |||||||||||||||||||||||||||
(d) | The debt is floating rate based on a consumer price index and an overnight funds rate in Brazil. The debt is denominated in Brazilian Real. | |||||||||||||||||||||||||||
(e) | Proceeds were used to repay commercial paper as well as for general corporate purposes. | |||||||||||||||||||||||||||
(f) | Represents the conversion of construction loans related to two renewable energy projects issued in December 2012 to term loans. No cash proceeds were received in conjunction with the conversion. The term loans have varying maturity dates. The maturity date presented represents the latest date for all components of the respective loans. | |||||||||||||||||||||||||||
(g) | The debt is floating rate. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 95 percent of the loans. | |||||||||||||||||||||||||||
(h) | Represents the conversion of a $190 million bridge loan issued in conjunction with the acquisition of Ibener in December 2012. Duke Energy received incremental proceeds of $40 million upon conversion of the bridge loan. The debt is floating rate and is denominated in U.S. dollars. Duke Energy has entered into a pay fixed-receive floating interest rate swap for 75 percent of the loan. | |||||||||||||||||||||||||||
(i) | Relates to the securitization of accounts receivable at a subsidiary of Duke Energy Progress; the proceeds were used to repay short-term debt. See Note 17 for further details. | |||||||||||||||||||||||||||
(j) | Proceeds were used to repay notes payable to affiliated companies as well as for general corporate purposes. | |||||||||||||||||||||||||||
(k) | Proceeds were used to repay $400 million of current maturities. | |||||||||||||||||||||||||||
(l) | The debt is floating rate based on three-month LIBOR and a fixed credit spread of 35 basis points. | |||||||||||||||||||||||||||
(m) | Proceeds were used for general corporate purposes including the repayment of short-term notes payable, a portion of which was incurred to fund the retirement of $250 million of first mortgage bonds that matured in the first half of 2013. | |||||||||||||||||||||||||||
(n) | The debt is floating rate based on three-month LIBOR plus a fixed credit spread of 14 basis points. | |||||||||||||||||||||||||||
Schedule Of Line Of Credit Facilities | The table below includes the current borrowing sublimits and available capacity under the Master Credit Facility. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy (Parent) | Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Facility size(a) | $ | 6,000 | $ | 2,250 | $ | 1,000 | $ | 750 | $ | 650 | $ | 650 | $ | 700 | ||||||||||||||
Reduction to backstop issuances | ||||||||||||||||||||||||||||
Commercial paper(b) | (2,021 | ) | (1,479 | ) | (300 | ) | — | (29 | ) | (38 | ) | (175 | ) | |||||||||||||||
Outstanding letters of credit | (70 | ) | (62 | ) | (4 | ) | (2 | ) | (1 | ) | — | (1 | ) | |||||||||||||||
Tax-exempt bonds | (116 | ) | — | (35 | ) | — | — | — | (81 | ) | ||||||||||||||||||
Available capacity | $ | 3,793 | $ | 709 | $ | 661 | $ | 748 | $ | 620 | $ | 612 | $ | 443 | ||||||||||||||
(a) | Represents the sublimit of each borrower. | |||||||||||||||||||||||||||
(b) | Duke Energy issued $475 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets. |
Guarantees_and_Indemnification1
Guarantees and Indemnifications (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Schedule of Guarantor Obligations | The following table includes the liabilities recognized for the guarantees discussed above. These amounts are primarily recorded in Other within Deferred Credits and other Liabilities on the Consolidated Balance Sheets. As current estimates change, additional losses related to guarantees and indemnifications to third parties, which could be material, may be recorded by the Duke Energy Registrants in the future. | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Duke Energy | $ | 28 | $ | 24 | ||||
Progress Energy | 13 | 9 | ||||||
Duke Energy Florida | 7 | 3 | ||||||
Joint_Ownership_of_Generating_1
Joint Ownership of Generating and Transmission Facilities (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Jointly Owned Utility Plant Interests [Line Items] | |||||||||||||||
Schedule Joint Ownership of Generating and Transmission Facilities | The following table presents the share of jointly owned plant or facilities included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants unless otherwise noted. | ||||||||||||||
December 31, 2014 | |||||||||||||||
Ownership Share | Property, Plant and Equipment | Accumulated Depreciation | Construction Work in Progress | ||||||||||||
Duke Energy Carolinas | |||||||||||||||
Catawba Nuclear Station (Units 1 and 2)(a)(b) | 19.25 | % | $ | 886 | $ | 534 | $ | 29 | |||||||
Duke Energy Progress | |||||||||||||||
Mayo Station(a)(c) | 83.83 | % | 1,111 | 360 | 10 | ||||||||||
Shearon Harris Nuclear Station(a)(c) | 83.83 | % | 3,872 | 2,242 | 208 | ||||||||||
Brunswick Nuclear Station(a)(c) | 81.67 | % | 2,673 | 1,372 | 290 | ||||||||||
Roxboro Station (Unit 4)(a)(c) | 87.06 | % | 954 | 514 | 24 | ||||||||||
Duke Energy Florida | |||||||||||||||
Crystal River Nuclear Station (Unit 3)(a)(d) | 91.78 | % | — | — | — | ||||||||||
Intercession City Station (Unit P11)(a) | (e) | 24 | 14 | — | |||||||||||
Duke Energy Ohio | |||||||||||||||
Miami Fort Station (Units 7 and 8)(f)(g) | 64 | % | — | — | — | ||||||||||
J.M. Stuart Station(f)(h)(i) | 39 | % | — | — | — | ||||||||||
Conesville Station (Unit 4)(f)(h)(i) | 40 | % | — | — | — | ||||||||||
W.M. Zimmer Station(f)(h) | 46.5 | % | — | — | — | ||||||||||
Killen Station(f)(g)(i) | 33 | % | — | — | — | ||||||||||
Transmission facilities(a)(h) | Various | 96 | 51 | 1 | |||||||||||
Duke Energy Indiana | |||||||||||||||
Gibson Station (Unit 5)(a)(j) | 50.05 | % | 315 | 170 | 6 | ||||||||||
Vermillion(a)(k) | 62.5 | % | 154 | 105 | — | ||||||||||
Transmission and local facilities(a)(j) | Various | 3,918 | 1,633 | — | |||||||||||
International Energy | |||||||||||||||
Brazil - Canoas I and II(l) | 47.2 | % | 235 | 78 | — | ||||||||||
(a) | Included in Regulated Utilities segment. | ||||||||||||||
(b) | Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and Piedmont Municipal Power Agency. | ||||||||||||||
(c) | Jointly owned with NCEMPA. Duke Energy Progress executed an agreement in September 2014 to purchase NCEMPA's ownership interest in these facilities. See Note 2 for further discussion. | ||||||||||||||
(d) | All costs associated with Crystal River Unit 3 are included within Regulatory assets on the Consolidated Balance Sheets of Duke Energy, Progress Energy and Duke Energy Florida. See Note 4 for additional information. Co-owned with Seminole Electric Cooperative, Inc., City of Ocala, Orlando Utilities Commission, City of Gainesville, City of Leesburg, Kissimmee Utility Authority, Utilities Commission of the City of New Smyrna Beach, City of Alachua and City of Bushnell (Florida Municipal Joint Owners). Duke Energy Florida is in the process of obtaining the remaining ownership interest from the Florida Municipal Joint Owners. | ||||||||||||||
(e) | Jointly owned with Georgia Power Company (GPC). GPC has exclusive rights to the output of the unit during the months of June through September and pays all fuel and water costs during this period. Duke Energy Florida pays all fuel and water costs during the remaining months. Other costs are allocated 66.67 percent to Duke Energy Florida and the remainder to GPC. | ||||||||||||||
(f) | All costs associated with these plants are included in Assets held for sale on the Consolidated Balance Sheets of Duke Energy and Duke Energy Ohio as part of the Disposal Group. See Note 2 for further discussion. | ||||||||||||||
(g) | Jointly owned with The Dayton Power and Light Company. | ||||||||||||||
(h) | Jointly owned with America Electric Power Generation Resources and The Dayton Power and Light Company. | ||||||||||||||
(i) | Station is not operated by Duke Energy Ohio. | ||||||||||||||
(j) | Jointly owned with WVPA and Indiana Municipal Power Agency. | ||||||||||||||
(k) | Jointly owned with WVPA. | ||||||||||||||
(l) | Included in International Energy segment. Jointly owned with Companhia Brasileira de Aluminio. |
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Asset Retirement Obligation [Line Items] | ||||||||||||||||||||||||||||
Schedule of Asset Retirement Obligations | The following table presents changes in the liability associated with asset retirement obligations. | |||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Balance at December 31, 2012(a) | $ | 5,176 | $ | 1,959 | $ | 2,420 | $ | 1,656 | $ | 764 | $ | 28 | $ | 37 | ||||||||||||||
Acquisitions | 4 | — | — | — | — | — | — | |||||||||||||||||||||
Accretion expense(b) | 239 | 122 | 113 | 80 | 33 | 2 | — | |||||||||||||||||||||
Liabilities settled | (12 | ) | — | (12 | ) | — | (12 | ) | — | — | ||||||||||||||||||
Revisions in estimates of cash flows(c) | (449 | ) | (487 | ) | 49 | 1 | 48 | (2 | ) | (7 | ) | |||||||||||||||||
Balance at December 31, 2013(a) | 4,958 | 1,594 | 2,570 | 1,737 | 833 | 28 | 30 | |||||||||||||||||||||
Acquisitions | 4 | — | — | — | — | — | — | |||||||||||||||||||||
Accretion expense(b) | 246 | 113 | 135 | 97 | 38 | 2 | 2 | |||||||||||||||||||||
Liabilities settled(d) | (68 | ) | — | (68 | ) | — | (68 | ) | — | — | ||||||||||||||||||
Liabilities incurred in the current year(e) | 3,500 | 1,717 | 1,783 | 1,783 | — | — | — | |||||||||||||||||||||
Revisions in estimates of cash flows(c) | (174 | ) | 4 | 291 | 288 | 3 | (3 | ) | — | |||||||||||||||||||
Balance at December 31, 2014 | $ | 8,466 | $ | 3,428 | $ | 4,711 | $ | 3,905 | $ | 806 | $ | 27 | $ | 32 | ||||||||||||||
(a) | Balances at December 31, 2013 and 2012, include $8 million and $7 million, respectively, reported in Other current liabilities on the Consolidated Balance Sheets at Duke Energy, Progress Energy and Duke Energy Progress. | |||||||||||||||||||||||||||
(b) | Substantially all accretion expense for the years ended December 31, 2014 and 2013 relates to Duke Energy’s regulated electric operations and has been deferred in accordance with regulatory accounting treatment. | |||||||||||||||||||||||||||
(c) | For 2014, amounts for Duke Energy, Progress Energy and Duke Energy Progress primarily relate to Duke Energy Progress' site-specific nuclear decommissioning cost studies. Amounts at Duke Energy also include impacts from Duke Energy Progress' site-specific nuclear decommissioning cost studies on purchase accounting amounts. For 2013, amounts for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Florida primarily relate to the site-specific nuclear decommissioning cost studies. | |||||||||||||||||||||||||||
(d) | Amounts relate to liability settlements for Crystal River Unit 3. | |||||||||||||||||||||||||||
(e) | Amounts primarily relate to asset retirement obligations recorded as a result of the Coal Ash Act and an agreement with the SCDHEC related to the W.S. Lee Steam Station. | |||||||||||||||||||||||||||
Public Utilities General Disclosures | The following table summarizes information about nuclear decommissioning cost studies. | |||||||||||||||||||||||||||
(in millions) | Annual Funding Requirement | Decommissioning Costs(a)(b)(c) | Year of Cost Study | |||||||||||||||||||||||||
Duke Energy Carolinas(d) | $ | 21 | $ | 3,420 | 2013 | |||||||||||||||||||||||
Duke Energy Progress(e) | 14 | 3,062 | 2014 | |||||||||||||||||||||||||
Duke Energy Florida | — | 1,083 | 2013 | |||||||||||||||||||||||||
(a) | Represents cost per the most recent site-specific nuclear decommissioning cost studies, including costs to decommission plant components not subject to radioactive contamination. | |||||||||||||||||||||||||||
(b) | Includes the Subsidiary Registrants' ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. | |||||||||||||||||||||||||||
(c) | Amounts are in dollars of year of cost study. | |||||||||||||||||||||||||||
(d) | In the fourth quarter of 2014, Duke Energy Carolinas requested from the NCUC a reduction in the annual funding requirement to zero. Duke Energy Carolinas received approval from the NCUC in January 2015. | |||||||||||||||||||||||||||
(e) | Duke Energy Progress' site-specific cost nuclear decommissioning cost studies are expected to be filed with the NCUC and PSCSC by the second quarter of 2015. Duke Energy Progress will also complete a new funding study, which will be completed and filed with the NCUC and PSCSC in 2015. | |||||||||||||||||||||||||||
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 Unit 1 | 2043 | |||||||||||||||||||||||||||
Catawba Unit 2 | 2043 | |||||||||||||||||||||||||||
McGuire Unit 1 | 2041 | |||||||||||||||||||||||||||
McGuire Unit 2 | 2043 | |||||||||||||||||||||||||||
Oconee Unit 1 | 2033 | |||||||||||||||||||||||||||
Oconee Unit 2 | 2033 | |||||||||||||||||||||||||||
Oconee Unit 3 | 2034 | |||||||||||||||||||||||||||
Duke Energy Progress | ||||||||||||||||||||||||||||
Brunswick Unit 1 | 2036 | |||||||||||||||||||||||||||
Brunswick Unit 2 | 2034 | |||||||||||||||||||||||||||
Harris | 2046 | |||||||||||||||||||||||||||
Robinson | 2030 | |||||||||||||||||||||||||||
Duke Energy Florida | ||||||||||||||||||||||||||||
Crystal River Unit 3 | (a) | |||||||||||||||||||||||||||
(a) | Duke Energy Florida has requested the NRC terminate the operating license as Crystal River Unit 3 permanently ceased operation in February 2013. Refer to Note 4 for further information on decommissioning activity and transition to SAFSTOR. |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||||||||
Schedule Of Property, Plant And Equipment | The composite weighted-average depreciation rates, excluding nuclear fuel, are included in the table that follows. | |||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Duke Energy | 2.8 | % | 2.8 | % | 2.9 | % | ||||||||||||||||||||||||
Duke Energy Carolinas | 2.7 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||||||||
Progress Energy | 2.5 | % | 2.5 | % | 2.6 | % | ||||||||||||||||||||||||
Duke Energy Progress | 2.5 | % | 2.5 | % | 2.7 | % | ||||||||||||||||||||||||
Duke Energy Florida | 2.7 | % | 2.4 | % | 2.5 | % | ||||||||||||||||||||||||
Duke Energy Ohio | 2.3 | % | 3.3 | % | 3.2 | % | ||||||||||||||||||||||||
Duke Energy Indiana | 3 | % | 2.8 | % | 3.3 | % | ||||||||||||||||||||||||
The following tables summarize the property, plant and equipment. | ||||||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||
(in millions) | Estimated Useful Life (Years) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Land | $ | 1,459 | $ | 403 | $ | 704 | $ | 380 | $ | 324 | $ | 114 | $ | 108 | ||||||||||||||||
Plant - Regulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 138 | 82,206 | 31,751 | 33,672 | 20,616 | 13,056 | 3,956 | 11,911 | ||||||||||||||||||||||
Natural gas transmission and distribution | Dec-67 | 2,230 | — | — | — | — | 2,230 | — | ||||||||||||||||||||||
Other buildings and improvements | 9 - 100 | 1,445 | 465 | 607 | 286 | 318 | 200 | 173 | ||||||||||||||||||||||
Plant - Nonregulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 30-Jan | 2,380 | — | — | — | — | — | — | ||||||||||||||||||||||
Other buildings and improvements | May-50 | 2,498 | — | — | — | — | — | — | ||||||||||||||||||||||
Nuclear fuel | 2,865 | 1,676 | 1,190 | 1,190 | — | — | — | |||||||||||||||||||||||
Equipment | Mar-34 | 1,762 | 341 | 506 | 388 | 118 | 330 | 166 | ||||||||||||||||||||||
Construction in process | 4,519 | 2,081 | 1,215 | 908 | 307 | 97 | 481 | |||||||||||||||||||||||
Other | May-80 | 3,497 | 655 | 756 | 439 | 310 | 214 | 195 | ||||||||||||||||||||||
Total property, plant and equipment(a)(d) | 104,861 | 37,372 | 38,650 | 24,207 | 14,433 | 7,141 | 13,034 | |||||||||||||||||||||||
Total accumulated depreciation - regulated(b)(c)(d) | (32,628 | ) | (12,700 | ) | (13,506 | ) | (9,021 | ) | (4,478 | ) | (2,213 | ) | (4,219 | ) | ||||||||||||||||
Total accumulated depreciation - nonregulated(c)(d) | (2,196 | ) | — | — | — | — | — | — | ||||||||||||||||||||||
Generation facilities to be retired, net | 9 | — | — | — | — | 9 | — | |||||||||||||||||||||||
Total net property, plant and equipment | $ | 70,046 | $ | 24,672 | $ | 25,144 | $ | 15,186 | $ | 9,955 | $ | 4,937 | $ | 8,815 | ||||||||||||||||
(a) | Includes capitalized leases of $1,548 million, $40 million, $315 million, $146 million, $169 million, $98 million, and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $72 million, $5 million and $67 million, respectively, of accumulated amortization of capitalized leases. | |||||||||||||||||||||||||||||
(b) | Includes $1,408 million, $847 million, $561 million and $561 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. | |||||||||||||||||||||||||||||
(c) | Includes accumulated amortization of capitalized leases of $52 million, $8 million, $25 million and $6 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. | |||||||||||||||||||||||||||||
(d) | Includes gross property, plant and equipment cost of consolidated VIEs of $1,873 million and accumulated depreciation of consolidated VIEs of $257 million at Duke Energy. | |||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||
(in millions) | Estimated Useful Life (Years) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||||||
Land | $ | 1,481 | $ | 397 | $ | 705 | $ | 383 | $ | 321 | $ | 137 | $ | 105 | ||||||||||||||||
Plant - Regulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 125 | 78,272 | 30,018 | 31,792 | 19,190 | 12,601 | 3,925 | 11,594 | ||||||||||||||||||||||
Natural gas transmission and distribution | Dec-67 | 2,138 | — | — | — | — | 2,138 | — | ||||||||||||||||||||||
Other buildings and improvements | 2 - 100 | 1,397 | 447 | 610 | 282 | 315 | 190 | 159 | ||||||||||||||||||||||
Plant - Nonregulated | ||||||||||||||||||||||||||||||
Electric generation, distribution and transmission | 2 - 100 | 6,267 | — | — | — | — | 4,017 | — | ||||||||||||||||||||||
Other buildings and improvements | 9 -100 | 2,512 | — | — | — | — | 5 | — | ||||||||||||||||||||||
Nuclear fuel | 2,458 | 1,446 | 1,012 | 1,012 | — | — | — | |||||||||||||||||||||||
Equipment | Jan-33 | 1,557 | 287 | 621 | 357 | 94 | 317 | 146 | ||||||||||||||||||||||
Construction in process | 3,595 | 1,741 | 873 | 631 | 238 | 166 | 307 | |||||||||||||||||||||||
Other | May-33 | 3,438 | 570 | 867 | 418 | 294 | 248 | 178 | ||||||||||||||||||||||
Total property, plant and equipment(a)(d) | 103,115 | 34,906 | 36,480 | 22,273 | 13,863 | 11,143 | 12,489 | |||||||||||||||||||||||
Total accumulated depreciation - regulated(b)(c)(d) | (31,659 | ) | (11,894 | ) | (13,098 | ) | (8,623 | ) | (4,252 | ) | (2,160 | ) | (3,913 | ) | ||||||||||||||||
Total accumulated depreciation - nonregulated(c)(d) | (1,966 | ) | — | — | — | — | (748 | ) | — | |||||||||||||||||||||
Total net property, plant and equipment | $ | 69,490 | $ | 23,012 | $ | 23,382 | $ | 13,650 | $ | 9,611 | $ | 8,235 | $ | 8,576 | ||||||||||||||||
(a) | Includes capitalized leases of $1,606 million, $53 million, $328 million, $148 million, $180 million, $96 million, and $30 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, and Duke Energy Indiana, respectively, primarily in regulated plant. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $60 million, an insignificant amount and $57 million, respectively, of accumulated amortization of capitalized leases. | |||||||||||||||||||||||||||||
(b) | Includes $1,118 million, $681 million, $438 million and $438 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively. | |||||||||||||||||||||||||||||
(c) | Includes accumulated amortization of capitalized leases of $40 million, $4 million, $21 million and $5 million at Duke Energy, Duke Energy Carolinas, Duke Energy Ohio and Duke Energy Indiana, respectively. | |||||||||||||||||||||||||||||
(d) | Includes gross property, plant and equipment cost of consolidated VIEs of $1,678 million and accumulated depreciation of consolidated VIEs of $175 million at Duke Energy. | |||||||||||||||||||||||||||||
Schedule Of Capitalized Interest | The following table presents capitalized interest, which includes the debt component of AFUDC. | |||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Duke Energy | $ | 75 | $ | 89 | $ | 176 | ||||||||||||||||||||||||
Duke Energy Carolinas | 38 | 41 | 72 | |||||||||||||||||||||||||||
Progress Energy | 11 | 19 | 41 | |||||||||||||||||||||||||||
Duke Energy Progress | 10 | 16 | 23 | |||||||||||||||||||||||||||
Duke Energy Florida | 1 | 3 | 18 | |||||||||||||||||||||||||||
Duke Energy Ohio | 10 | 11 | 13 | |||||||||||||||||||||||||||
Duke Energy Indiana | 6 | 9 | 39 | |||||||||||||||||||||||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Goodwill [Line Items] | ||||||||||||||||||||||||||||
Goodwill By Reportable Operating Segment | Duke Energy | |||||||||||||||||||||||||||
(in millions) | Regulated Utilities | International Energy | Commercial Power | Total | ||||||||||||||||||||||||
Balance at December 31, 2013 | ||||||||||||||||||||||||||||
Goodwill | $ | 15,950 | $ | 326 | $ | 935 | $ | 17,211 | ||||||||||||||||||||
Accumulated impairment charges | — | — | (871 | ) | (871 | ) | ||||||||||||||||||||||
Balance at December 31, 2013, net of accumulated impairment charges | 15,950 | 326 | 64 | 16,340 | ||||||||||||||||||||||||
Foreign exchange and other changes | — | (19 | ) | — | (19 | ) | ||||||||||||||||||||||
Balance at December 31, 2014 | ||||||||||||||||||||||||||||
Goodwill | 15,950 | 307 | 935 | 17,192 | ||||||||||||||||||||||||
Accumulated impairment charges | — | — | (871 | ) | (871 | ) | ||||||||||||||||||||||
Balance at December 31, 2014, net of accumulated impairment charges | $ | 15,950 | $ | 307 | $ | 64 | $ | 16,321 | ||||||||||||||||||||
Schedule of Intangible Assets | The following tables show the carrying amount and accumulated amortization of intangible assets within Other on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2014 and 2013. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio (a) | Duke Energy Indiana | |||||||||||||||||||||
Emission allowances | $ | 23 | $ | 1 | $ | 7 | $ | 3 | $ | 4 | $ | — | $ | 16 | ||||||||||||||
Renewable energy certificates | 97 | 25 | 69 | 69 | — | 3 | — | |||||||||||||||||||||
Gas, coal and power contracts | 24 | — | — | — | — | — | 24 | |||||||||||||||||||||
Wind development rights | 97 | — | — | — | — | — | — | |||||||||||||||||||||
Other | 76 | — | — | — | — | — | — | |||||||||||||||||||||
Total gross carrying amounts | 317 | 26 | 76 | 72 | 4 | 3 | 40 | |||||||||||||||||||||
Accumulated amortization - gas, coal and power contracts | (15 | ) | — | — | — | — | — | (15 | ) | |||||||||||||||||||
Accumulated amortization - wind development rights | (14 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Accumulated amortization - other | (25 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Total accumulated amortization | (54 | ) | — | — | — | — | — | (15 | ) | |||||||||||||||||||
Total intangible assets, net | $ | 263 | $ | 26 | $ | 76 | $ | 72 | $ | 4 | $ | 3 | $ | 25 | ||||||||||||||
(a) | During 2014, Duke Energy Ohio reduced the carrying amount of OVEC to zero. A charge of $94 million is recorded in Impairment Charges on Duke Energy Ohio's Consolidated Statement of Operations. In addition, Duke Energy Ohio has emission allowances and renewable energy certificates that have been reclassified to Assets Held For Sale pending the sale of the Disposal Group. See Note 17 for further information. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Emission allowances | $ | 63 | $ | 1 | $ | 21 | $ | 3 | $ | 18 | $ | 20 | $ | 21 | ||||||||||||||
Renewable energy certificates | 82 | 16 | 64 | 64 | — | 2 | — | |||||||||||||||||||||
Gas, coal and power contracts | 180 | — | — | — | — | 156 | 24 | |||||||||||||||||||||
Wind development rights | 86 | — | — | — | — | — | — | |||||||||||||||||||||
Other | 76 | — | — | — | — | — | — | |||||||||||||||||||||
Total gross carrying amounts | 487 | 17 | 85 | 67 | 18 | 178 | 45 | |||||||||||||||||||||
Accumulated amortization - gas, coal and power contracts | (73 | ) | — | — | — | — | (60 | ) | (13 | ) | ||||||||||||||||||
Accumulated amortization - wind development rights | (12 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Accumulated amortization - other | (24 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Total accumulated amortization | (109 | ) | — | — | — | — | (60 | ) | (13 | ) | ||||||||||||||||||
Total intangible assets, net | $ | 378 | $ | 17 | $ | 85 | $ | 67 | $ | 18 | $ | 118 | $ | 32 | ||||||||||||||
Schedule of Amortization Expense | The following table presents amortization expense for gas, coal and power contracts, wind development rights and other intangible assets. | |||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||
Duke Energy | $ | 6 | $ | 13 | $ | 14 | ||||||||||||||||||||||
Duke Energy Ohio | 2 | 8 | 12 | |||||||||||||||||||||||||
Duke Energy Indiana | 1 | 1 | 1 | |||||||||||||||||||||||||
Schedule of Expected Amortization Expense | The amortization amounts discussed below are estimates and actual amounts may differ from these estimates due to such factors as changes in consumption patterns, sales or impairments of emission allowances or other intangible assets, delays in the in-service dates of wind assets, additional intangible acquisitions and other events. | |||||||||||||||||||||||||||
(in millions) | 2015 | 2016 | 2017 | 2018 | 2019 | |||||||||||||||||||||||
Duke Energy | $ | 11 | $ | 8 | $ | 7 | $ | 7 | $ | 7 | ||||||||||||||||||
Duke Energy Ohio | 2 | 1 | 1 | 1 | 1 | |||||||||||||||||||||||
Duke Energy Indiana | 5 | 3 | 2 | 2 | 2 | |||||||||||||||||||||||
Duke Energy Ohio [Member] | ||||||||||||||||||||||||||||
Goodwill [Line Items] | ||||||||||||||||||||||||||||
Goodwill By Reportable Operating Segment | ||||||||||||||||||||||||||||
(in millions) | Regulated Utilities | Commercial Power | Total | |||||||||||||||||||||||||
Balance at December 31, 2013 | ||||||||||||||||||||||||||||
Goodwill | $ | 1,136 | $ | 1,188 | $ | 2,324 | ||||||||||||||||||||||
Accumulated impairment charges | (216 | ) | (1,188 | ) | (1,404 | ) | ||||||||||||||||||||||
Balance at December 31, 2013, net of accumulated impairment charges | 920 | — | 920 | |||||||||||||||||||||||||
Balance at December 31, 2014 | ||||||||||||||||||||||||||||
Goodwill | 1,136 | 1,188 | 2,324 | |||||||||||||||||||||||||
Accumulated impairment charges | (216 | ) | (1,188 | ) | (1,404 | ) | ||||||||||||||||||||||
Balance at December 31, 2014, net of accumulated impairment charges | $ | 920 | $ | — | $ | 920 | ||||||||||||||||||||||
Investments_in_Unconsolidated_1
Investments in Unconsolidated Affiliates (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
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, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(in millions) | Investments | Equity in earnings | Investments | Equity in earnings | Equity in earnings | |||||||||||||||
Regulated Utilities | $ | 3 | $ | (3 | ) | $ | 4 | $ | (1 | ) | $ | (5 | ) | |||||||
International Energy | 69 | 120 | 82 | 110 | 134 | |||||||||||||||
Commercial Power | 258 | 10 | 252 | 7 | 14 | |||||||||||||||
Other | 28 | 3 | 52 | 6 | 5 | |||||||||||||||
Total | $ | 358 | $ | 130 | $ | 390 | $ | 122 | $ | 148 | ||||||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Duke Energy Carolinas [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. | |||||||||||
Years Ended December 31, | ||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||
Duke Energy Carolinas | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 851 | $ | 927 | $ | 1,112 | ||||||
Indemnification coverages(b) | 21 | 22 | 21 | |||||||||
JDA revenue(c) | 133 | 121 | 18 | |||||||||
JDA expense(c) | 198 | 116 | 91 | |||||||||
Progress Energy | ||||||||||||
Corporate governance and shared services provided by Duke Energy(a) | $ | 732 | $ | 290 | $ | 63 | ||||||
Corporate governance and shared services provided to Duke Energy(d) | — | 96 | 47 | |||||||||
Indemnification coverages(b) | 33 | 34 | 17 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Progress | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 386 | $ | 266 | $ | 254 | ||||||
Indemnification coverages(b) | 17 | 20 | 8 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Florida | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 346 | $ | 182 | $ | 186 | ||||||
Indemnification coverages(b) | 16 | 14 | 8 | |||||||||
Duke Energy Ohio | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 316 | $ | 347 | $ | 358 | ||||||
Indemnification coverages(b) | 13 | 15 | 15 | |||||||||
Duke Energy Indiana | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 384 | $ | 422 | $ | 419 | ||||||
Indemnification coverages(b) | 11 | 14 | 8 | |||||||||
(a) | The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(b) | The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(c) | Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(d) | In 2013 and 2012, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. | |||||||||||
Progress Energy [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. | |||||||||||
Years Ended December 31, | ||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||
Duke Energy Carolinas | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 851 | $ | 927 | $ | 1,112 | ||||||
Indemnification coverages(b) | 21 | 22 | 21 | |||||||||
JDA revenue(c) | 133 | 121 | 18 | |||||||||
JDA expense(c) | 198 | 116 | 91 | |||||||||
Progress Energy | ||||||||||||
Corporate governance and shared services provided by Duke Energy(a) | $ | 732 | $ | 290 | $ | 63 | ||||||
Corporate governance and shared services provided to Duke Energy(d) | — | 96 | 47 | |||||||||
Indemnification coverages(b) | 33 | 34 | 17 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Progress | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 386 | $ | 266 | $ | 254 | ||||||
Indemnification coverages(b) | 17 | 20 | 8 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Florida | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 346 | $ | 182 | $ | 186 | ||||||
Indemnification coverages(b) | 16 | 14 | 8 | |||||||||
Duke Energy Ohio | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 316 | $ | 347 | $ | 358 | ||||||
Indemnification coverages(b) | 13 | 15 | 15 | |||||||||
Duke Energy Indiana | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 384 | $ | 422 | $ | 419 | ||||||
Indemnification coverages(b) | 11 | 14 | 8 | |||||||||
(a) | The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(b) | The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(c) | Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(d) | In 2013 and 2012, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. | |||||||||||
Duke Energy Progress [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. | |||||||||||
Years Ended December 31, | ||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||
Duke Energy Carolinas | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 851 | $ | 927 | $ | 1,112 | ||||||
Indemnification coverages(b) | 21 | 22 | 21 | |||||||||
JDA revenue(c) | 133 | 121 | 18 | |||||||||
JDA expense(c) | 198 | 116 | 91 | |||||||||
Progress Energy | ||||||||||||
Corporate governance and shared services provided by Duke Energy(a) | $ | 732 | $ | 290 | $ | 63 | ||||||
Corporate governance and shared services provided to Duke Energy(d) | — | 96 | 47 | |||||||||
Indemnification coverages(b) | 33 | 34 | 17 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Progress | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 386 | $ | 266 | $ | 254 | ||||||
Indemnification coverages(b) | 17 | 20 | 8 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Florida | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 346 | $ | 182 | $ | 186 | ||||||
Indemnification coverages(b) | 16 | 14 | 8 | |||||||||
Duke Energy Ohio | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 316 | $ | 347 | $ | 358 | ||||||
Indemnification coverages(b) | 13 | 15 | 15 | |||||||||
Duke Energy Indiana | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 384 | $ | 422 | $ | 419 | ||||||
Indemnification coverages(b) | 11 | 14 | 8 | |||||||||
(a) | The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(b) | The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(c) | Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(d) | In 2013 and 2012, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. | |||||||||||
Duke Energy Florida [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. | |||||||||||
Years Ended December 31, | ||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||
Duke Energy Carolinas | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 851 | $ | 927 | $ | 1,112 | ||||||
Indemnification coverages(b) | 21 | 22 | 21 | |||||||||
JDA revenue(c) | 133 | 121 | 18 | |||||||||
JDA expense(c) | 198 | 116 | 91 | |||||||||
Progress Energy | ||||||||||||
Corporate governance and shared services provided by Duke Energy(a) | $ | 732 | $ | 290 | $ | 63 | ||||||
Corporate governance and shared services provided to Duke Energy(d) | — | 96 | 47 | |||||||||
Indemnification coverages(b) | 33 | 34 | 17 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Progress | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 386 | $ | 266 | $ | 254 | ||||||
Indemnification coverages(b) | 17 | 20 | 8 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Florida | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 346 | $ | 182 | $ | 186 | ||||||
Indemnification coverages(b) | 16 | 14 | 8 | |||||||||
Duke Energy Ohio | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 316 | $ | 347 | $ | 358 | ||||||
Indemnification coverages(b) | 13 | 15 | 15 | |||||||||
Duke Energy Indiana | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 384 | $ | 422 | $ | 419 | ||||||
Indemnification coverages(b) | 11 | 14 | 8 | |||||||||
(a) | The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(b) | The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(c) | Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(d) | In 2013 and 2012, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. | |||||||||||
Duke Energy Ohio [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. | |||||||||||
Years Ended December 31, | ||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||
Duke Energy Carolinas | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 851 | $ | 927 | $ | 1,112 | ||||||
Indemnification coverages(b) | 21 | 22 | 21 | |||||||||
JDA revenue(c) | 133 | 121 | 18 | |||||||||
JDA expense(c) | 198 | 116 | 91 | |||||||||
Progress Energy | ||||||||||||
Corporate governance and shared services provided by Duke Energy(a) | $ | 732 | $ | 290 | $ | 63 | ||||||
Corporate governance and shared services provided to Duke Energy(d) | — | 96 | 47 | |||||||||
Indemnification coverages(b) | 33 | 34 | 17 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Progress | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 386 | $ | 266 | $ | 254 | ||||||
Indemnification coverages(b) | 17 | 20 | 8 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Florida | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 346 | $ | 182 | $ | 186 | ||||||
Indemnification coverages(b) | 16 | 14 | 8 | |||||||||
Duke Energy Ohio | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 316 | $ | 347 | $ | 358 | ||||||
Indemnification coverages(b) | 13 | 15 | 15 | |||||||||
Duke Energy Indiana | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 384 | $ | 422 | $ | 419 | ||||||
Indemnification coverages(b) | 11 | 14 | 8 | |||||||||
(a) | The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(b) | The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(c) | Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(d) | In 2013 and 2012, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. | |||||||||||
Duke Energy Indiana [Member] | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Related Party Transactions, Other Revenue and Expense | Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table. | |||||||||||
Years Ended December 31, | ||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||
Duke Energy Carolinas | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 851 | $ | 927 | $ | 1,112 | ||||||
Indemnification coverages(b) | 21 | 22 | 21 | |||||||||
JDA revenue(c) | 133 | 121 | 18 | |||||||||
JDA expense(c) | 198 | 116 | 91 | |||||||||
Progress Energy | ||||||||||||
Corporate governance and shared services provided by Duke Energy(a) | $ | 732 | $ | 290 | $ | 63 | ||||||
Corporate governance and shared services provided to Duke Energy(d) | — | 96 | 47 | |||||||||
Indemnification coverages(b) | 33 | 34 | 17 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Progress | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 386 | $ | 266 | $ | 254 | ||||||
Indemnification coverages(b) | 17 | 20 | 8 | |||||||||
JDA revenue(c) | 198 | 116 | 91 | |||||||||
JDA expense(c) | 133 | 121 | 18 | |||||||||
Duke Energy Florida | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 346 | $ | 182 | $ | 186 | ||||||
Indemnification coverages(b) | 16 | 14 | 8 | |||||||||
Duke Energy Ohio | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 316 | $ | 347 | $ | 358 | ||||||
Indemnification coverages(b) | 13 | 15 | 15 | |||||||||
Duke Energy Indiana | ||||||||||||
Corporate governance and shared service expenses(a) | $ | 384 | $ | 422 | $ | 419 | ||||||
Indemnification coverages(b) | 11 | 14 | 8 | |||||||||
(a) | The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These amounts are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(b) | The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(c) | Duke Energy Carolinas and Duke Energy Progress participate in a JDA which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power under the JDA are recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Expenses from the purchase of power under the JDA are recorded in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations and Comprehensive Income. | |||||||||||
(d) | In 2013 and 2012, Progress Energy Service Company (PESC), a consolidated subsidiary of Progress Energy, charged a proportionate share of corporate governance and other costs to consolidated affiliates of Duke Energy. Corporate governance and other shared costs were primarily related to human resources, employee benefits, legal and accounting fees, as well as other third-party costs. These charges were recorded as an offset to Operation, maintenance and other in the Consolidated Statements of Operations and Comprehensive Income. Effective January 1, 2014, PESC was contributed to Duke Energy Corporate Services (DECS), a consolidated subsidiary of Duke Energy, and these costs were no longer charged out of Progress Energy. Progress Energy recorded a non-cash after-tax equity transfer related to the contribution of PESC to DECS in its Consolidated Statements of Changes in Common Stockholder's Equity. |
Derivatives_and_Hedging_Tables
Derivatives and Hedging (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk | The following tables show notional amounts for derivatives related to interest rate risk. | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Duke | Duke | Duke | Duke | Duke | |||||||||||||||||||
Energy | Energy Florida | Energy | Energy | Energy | ||||||||||||||||||||
Ohio | Ohio | |||||||||||||||||||||||
Cash flow hedges(a) | $ | 750 | $ | — | $ | — | $ | 798 | $ | — | ||||||||||||||
Undesignated contracts | 277 | 250 | 27 | 34 | 27 | |||||||||||||||||||
Total notional amount | $ | 1,027 | 250 | $ | 27 | $ | 832 | $ | 27 | |||||||||||||||
(a) | Duke Energy includes amounts related to consolidated VIEs of $541 million at December 31, 2014 and $584 million at December 31, 2013 | |||||||||||||||||||||||
Underlying Notional Amounts for Commodity Derivative Instruments Accounted for at Fair Value | The tables below show information relating to volumes of outstanding commodity derivatives. Amounts disclosed represent the notional volumes of commodity contracts excluding NPNS. Amounts disclosed represent the absolute value of notional amounts. 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, 2014 | ||||||||||||||||||||||||
Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||
Electricity (gigawatt-hours)(a) | 25,370 | — | — | — | — | 19,141 | — | |||||||||||||||||
Natural gas (millions of decatherms) | 676 | 35 | 328 | 116 | 212 | 313 | — | |||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | ||||||||||||||||||
Electricity (gigawatt-hours)(a) | 71,466 | 1,205 | 925 | 925 | — | 69,362 | 203 | |||||||||||||||||
Natural gas (millions of decatherms) | 636 | — | 363 | 141 | 222 | 274 | — | |||||||||||||||||
(a) | Amounts at Duke Energy Ohio include intercompany positions that eliminate at Duke Energy. | |||||||||||||||||||||||
Location And Fair Value Amounts Of Derivatives Reflected In The Condensed Consolidated Balance Sheets | The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | — | $ | — | $ | 1 | ||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Investments and other assets: other | 10 | — | 27 | — | ||||||||||||||||||||
Current liabilities: other | — | 13 | — | 18 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 29 | — | 4 | ||||||||||||||||||||
Total Derivatives Designated as Hedging Instruments | $ | 10 | $ | 42 | $ | 27 | $ | 23 | ||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | 18 | $ | — | $ | 201 | $ | 158 | ||||||||||||||||
Current assets: assets held for sale | 15 | — | — | — | ||||||||||||||||||||
Investments and other assets: other | 3 | — | 215 | 131 | ||||||||||||||||||||
Investments and other assets: assets held for sale | 15 | — | — | — | ||||||||||||||||||||
Current liabilities: other | 1 | 307 | 13 | 153 | ||||||||||||||||||||
Current liabilities: assets held for sale | 174 | 253 | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | 2 | 91 | 5 | 166 | ||||||||||||||||||||
Deferred credits and other liabilities: assets held for sale | 111 | 208 | — | — | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current assets: other | 2 | — | — | — | ||||||||||||||||||||
Current liabilities: other | — | 1 | — | 1 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 7 | — | 4 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 341 | 867 | 434 | 613 | ||||||||||||||||||||
Total Derivatives | $ | 351 | $ | 909 | $ | 461 | $ | 636 | ||||||||||||||||
Offsetting Assets | The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(e) | Non-Current(f) | ||||||||||||||||||||
Gross amounts recognized | $ | 210 | $ | 136 | $ | 214 | $ | 233 | ||||||||||||||||
Gross amounts offset | (153 | ) | (88 | ) | (179 | ) | (138 | ) | ||||||||||||||||
Net amount subject to master netting | 57 | 48 | 35 | 95 | ||||||||||||||||||||
Amounts not subject to master netting | — | 5 | — | 14 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 57 | $ | 53 | $ | 35 | $ | 109 | ||||||||||||||||
Offsetting Liabilities | ||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(g) | Non-Current(h) | ||||||||||||||||||||
Gross amounts recognized | $ | 573 | $ | 319 | $ | 322 | $ | 299 | ||||||||||||||||
Gross amounts offset | (213 | ) | (173 | ) | (192 | ) | (155 | ) | ||||||||||||||||
Net amounts subject to master netting | 360 | 146 | 130 | 144 | ||||||||||||||||||||
Amounts not subject to master netting | 1 | 16 | 4 | 11 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 361 | $ | 162 | $ | 134 | $ | 155 | ||||||||||||||||
(a) Included in Other and Assets Held for Sale within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other and Assets held for Sale within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other and Liabilities Associated with Assets Held for Sale within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other and Liabilities Associated with Assets Held for Sale within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(e) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(f) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(g) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(h) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
Cash Flow Hedges-Location And Amount Of Pre-Tax (Losses) Recognized In Comprehensive Income | The following table shows the gains and losses recognized on cash flow hedges and the line items on the Consolidated Statements of Operations where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Interest rate contracts | $ | (39 | ) | $ | 79 | $ | (23 | ) | ||||||||||||||||
Commodity contracts | — | 1 | 1 | |||||||||||||||||||||
Total Pretax Gains (Losses) Recorded in AOCI | $ | (39 | ) | $ | 80 | $ | (22 | ) | ||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (7 | ) | (2 | ) | 2 | |||||||||||||||||||
Undesignated Contracts - Location And Amount Of Pre-Tax Gains And (Losses) Recognized In Income Or As Regulatory Assets Or Liabilities | The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Revenue: Regulated electric | $ | — | $ | 11 | $ | (23 | ) | |||||||||||||||||
Other income and expenses | — | — | (2 | ) | ||||||||||||||||||||
Fuel used in electric generation and purchased power-regulated | (44 | ) | (200 | ) | (194 | ) | ||||||||||||||||||
Income (Loss) From Discontinued Operations | (729 | ) | (57 | ) | 40 | |||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (6 | ) | (18 | ) | (8 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (779 | ) | $ | (264 | ) | $ | (187 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (268 | ) | $ | 10 | $ | (2 | ) | ||||||||||||||||
Regulatory liabilities | 14 | 15 | 36 | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | 55 | 10 | |||||||||||||||||||||
Regulatory liabilities | 2 | — | — | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (252 | ) | $ | 80 | $ | 44 | |||||||||||||||||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent 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, 2014 | ||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | ||||||||||||||||||
Aggregate fair value amounts of derivative instruments in a net liability position | $ | 845 | $ | 19 | $ | 370 | $ | 131 | $ | 239 | $ | 456 | ||||||||||||
Fair value of collateral already posted | 209 | — | 23 | — | 23 | 186 | ||||||||||||||||||
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 407 | 19 | 347 | 131 | 216 | 41 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
(in millions) | Duke Energy | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | |||||||||||||||||||
Aggregate fair value amounts of derivative instruments in a net liability position | $ | 525 | $ | 168 | $ | 60 | $ | 108 | $ | 355 | ||||||||||||||
Fair value of collateral already posted | 135 | 10 | — | 10 | 125 | |||||||||||||||||||
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 205 | 158 | 60 | 98 | 47 | |||||||||||||||||||
Schedule Of Cash Collateral Under Master Netting Arrangements | The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative must be executed with the same counterparty under the same master netting agreement. Amounts disclosed below represent the receivables related to the right to reclaim cash collateral and payables related to the obligation to return cash collateral under master netting arrangements. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Receivables | Payables | Receivables | Payables | ||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||
Amounts offset against net derivative positions | $ | 145 | $ | — | $ | 30 | $ | — | ||||||||||||||||
Amounts not offset against net derivative positions | 64 | — | 122 | — | ||||||||||||||||||||
Progress Energy | ||||||||||||||||||||||||
Amounts offset against net derivative positions | 23 | — | 10 | — | ||||||||||||||||||||
Duke Energy Florida | ||||||||||||||||||||||||
Amounts offset against net derivative positions | 23 | — | 10 | — | ||||||||||||||||||||
Duke Energy Ohio | ||||||||||||||||||||||||
Amounts offset against net derivative positions | 122 | — | 19 | — | ||||||||||||||||||||
Amounts not offset against net derivative positions | 64 | — | 115 | — | ||||||||||||||||||||
Duke Energy Indiana | ||||||||||||||||||||||||
Amounts offset against net derivative positions | — | — | — | 1 | ||||||||||||||||||||
Amounts not offset against net derivative positions | — | — | 1 | — | ||||||||||||||||||||
Duke Energy Carolinas [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Location And Fair Value Amounts Of Derivatives Reflected In The Condensed Consolidated Balance Sheets | The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | 14 | $ | — | $ | 1 | ||||||||||||||||
Deferred credits and other liabilities: other | — | 5 | — | 1 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | — | 19 | — | 2 | ||||||||||||||||||||
Total Derivatives | $ | — | $ | 19 | $ | — | $ | 2 | ||||||||||||||||
Offsetting Assets | The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Gross amounts offset | — | — | — | — | ||||||||||||||||||||
Net amount subject to master netting | — | — | — | — | ||||||||||||||||||||
Amounts not subject to master netting | — | — | — | — | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Offsetting Liabilities | ||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 14 | $ | 5 | $ | — | $ | — | ||||||||||||||||
Gross amounts offset | — | — | — | — | ||||||||||||||||||||
Net amount subject to master netting | 14 | 5 | — | — | ||||||||||||||||||||
Amounts not subject to master netting | — | — | 1 | 1 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 14 | $ | 5 | $ | 1 | $ | 1 | ||||||||||||||||
(a) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
Cash Flow Hedges-Location And Amount Of Pre-Tax (Losses) Recognized In Comprehensive Income | The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | $ | (3 | ) | $ | (3 | ) | $ | (3 | ) | |||||||||||||||
Undesignated Contracts - Location And Amount Of Pre-Tax Gains And (Losses) Recognized In Income Or As Regulatory Assets Or Liabilities | The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts not included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Revenue: Regulated electric | $ | — | $ | (12 | ) | $ | (12 | ) | ||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | — | (12 | ) | (12 | ) | |||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (19 | ) | $ | — | $ | — | |||||||||||||||||
Progress Energy [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Location And Fair Value Amounts Of Derivatives Reflected In The Condensed Consolidated Balance Sheets | The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | 1 | $ | — | $ | 1 | ||||||||||||||||
Deferred credits and other liabilities: other | — | — | — | 4 | ||||||||||||||||||||
Total Derivatives Designated as Hedging Instruments | $ | — | $ | 1 | $ | — | $ | 5 | ||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | — | $ | — | $ | 3 | $ | 2 | ||||||||||||||||
Investments and other assets: other | — | — | 2 | 1 | ||||||||||||||||||||
Current liabilities: other | — | 288 | 11 | 105 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 80 | 4 | 91 | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current assets: other | 2 | — | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 2 | — | — | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 2 | 370 | 20 | 199 | ||||||||||||||||||||
Total Derivatives | $ | 2 | $ | 371 | $ | 20 | $ | 204 | ||||||||||||||||
Offsetting Assets | The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | 2 | $ | — | $ | 15 | $ | 5 | ||||||||||||||||
Gross amounts offset | (2 | ) | — | (13 | ) | (4 | ) | |||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | 2 | $ | 1 | ||||||||||||||||
Offsetting Liabilities | ||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 289 | $ | 82 | $ | 107 | $ | 93 | ||||||||||||||||
Gross amounts offset | (17 | ) | (8 | ) | (17 | ) | (10 | ) | ||||||||||||||||
Net amounts subject to master netting | 272 | 74 | 90 | 83 | ||||||||||||||||||||
Amounts not subject to master netting | — | — | — | 4 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 272 | $ | 74 | $ | 90 | $ | 87 | ||||||||||||||||
(a) Included in Other within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
Cash Flow Hedges-Location And Amount Of Pre-Tax (Losses) Recognized In Comprehensive Income | The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income or Consolidated Balance Sheet where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Commodity contracts | $ | — | $ | 1 | $ | 1 | ||||||||||||||||||
Interest rate contracts | — | — | (11 | ) | ||||||||||||||||||||
Total Pretax Gains (Losses) Recorded in AOCI | $ | — | $ | 1 | $ | (10 | ) | |||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (13 | ) | — | (14 | ) | |||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI to Regulatory Assets or Liabilities(a) | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | $ | — | (159 | ) | |||||||||||||||||||
(a) Effective with the merger, Duke Energy Progress and Duke Energy Florida no longer designates interest rate derivatives for | ||||||||||||||||||||||||
regulated operations as cash flow hedges. As a result, the pretax losses on derivatives as of the date of the merger were reclassified from AOCI to regulatory assets. | ||||||||||||||||||||||||
Undesignated Contracts - Location And Amount Of Pre-Tax Gains And (Losses) Recognized In Income Or As Regulatory Assets Or Liabilities | The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Operating revenues | $ | — | $ | 11 | $ | (11 | ) | |||||||||||||||||
Fuel used in electric generation and purchased power | (44 | ) | (200 | ) | (454 | ) | ||||||||||||||||||
Other income and expenses, net | — | — | 7 | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (4 | ) | (17 | ) | (8 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (48 | ) | $ | (206 | ) | $ | (466 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (233 | ) | $ | 10 | $ | (171 | ) | ||||||||||||||||
Regulatory liabilities | 2 | — | — | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | 2 | 18 | 6 | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (229 | ) | $ | 28 | $ | (165 | ) | ||||||||||||||||
Duke Energy Progress [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Location And Fair Value Amounts Of Derivatives Reflected In The Condensed Consolidated Balance Sheets | The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. Substantially all derivatives not designated as hedging instruments receive regulatory accounting treatment. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current liabilities: other | $ | — | $ | 1 | $ | — | $ | 1 | ||||||||||||||||
Total Derivatives Designated as Hedging Instruments | — | 1 | — | 1 | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Investments and other assets: other | $ | — | $ | — | $ | 2 | $ | 1 | ||||||||||||||||
Current liabilities: other | — | 108 | 2 | 40 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 23 | 2 | 29 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | — | 131 | 6 | 70 | ||||||||||||||||||||
Total Derivatives | $ | — | $ | 132 | $ | 6 | $ | 71 | ||||||||||||||||
Offsetting Assets | The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | — | $ | — | $ | 3 | $ | 3 | ||||||||||||||||
Gross amounts offset | — | — | (3 | ) | (3 | ) | ||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Offsetting Liabilities | ||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 109 | $ | 23 | $ | 41 | $ | 30 | ||||||||||||||||
Gross amounts offset | — | — | (3 | ) | (3 | ) | ||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 109 | $ | 23 | $ | 38 | $ | 27 | ||||||||||||||||
(a) Included in Other within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
Cash Flow Hedges-Location And Amount Of Pre-Tax (Losses) Recognized In Comprehensive Income | The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income or Consolidated Balance Sheets in which such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Interest rate contracts | $ | — | $ | — | $ | (7 | ) | |||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | — | — | (5 | ) | ||||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI to Regulatory Assets or Liabilities(a) | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | $ | — | (117 | ) | |||||||||||||||||||
(a) | Effective with the merger, Duke Energy Progress no longer designates interest rate derivatives for regulated operations as cash flow hedges. As a result, the pretax losses on derivatives as of the date of the merger were reclassified from AOCI to Regulatory assets. | |||||||||||||||||||||||
Undesignated Contracts - Location And Amount Of Pre-Tax Gains And (Losses) Recognized In Income Or As Regulatory Assets Or Liabilities | The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Operating revenues | $ | — | $ | 11 | $ | (11 | ) | |||||||||||||||||
Fuel used in electric generation and purchased power | (15 | ) | (71 | ) | (115 | ) | ||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | — | (13 | ) | (6 | ) | |||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (15 | ) | $ | (73 | ) | $ | (132 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (82 | ) | $ | (6 | ) | $ | (55 | ) | |||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | 13 | 6 | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (82 | ) | $ | 7 | $ | (49 | ) | ||||||||||||||||
Duke Energy Florida [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Location And Fair Value Amounts Of Derivatives Reflected In The Condensed Consolidated Balance Sheets | The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | — | $ | — | $ | 3 | $ | 2 | ||||||||||||||||
Current liabilities: other | — | 180 | 9 | 64 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 57 | 2 | 63 | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current assets: other | 2 | — | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 2 | — | — | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 2 | 239 | 14 | 129 | ||||||||||||||||||||
Total Derivatives | $ | 2 | $ | 239 | $ | 14 | $ | 129 | ||||||||||||||||
Offsetting Assets | The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | 2 | $ | — | $ | 12 | $ | 2 | ||||||||||||||||
Gross amounts offset | (2 | ) | — | (10 | ) | (2 | ) | |||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | 2 | $ | — | ||||||||||||||||
Offsetting Liabilities | ||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | 180 | $ | 59 | $ | 66 | $ | 63 | ||||||||||||||||
Gross amounts offset | (17 | ) | (8 | ) | (15 | ) | (7 | ) | ||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 163 | $ | 51 | $ | 51 | $ | 56 | ||||||||||||||||
(a) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
Cash Flow Hedges-Location And Amount Of Pre-Tax (Losses) Recognized In Comprehensive Income | The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income or Consolidated Balance Sheets in which such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Pretax Gains (Losses) Recorded in AOCI | ||||||||||||||||||||||||
Commodity contracts | $ | — | $ | 1 | $ | 1 | ||||||||||||||||||
Interest rate contracts | — | — | (2 | ) | ||||||||||||||||||||
Total Pretax Gains (Losses) Recorded in AOCI | $ | — | $ | 1 | $ | (1 | ) | |||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (2 | ) | — | (2 | ) | |||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI to Regulatory Assets(a) | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | $ | — | (42 | ) | |||||||||||||||||||
(a) | Effective with the merger, Duke Energy Florida no longer designates interest rate derivatives for regulated operations as cash flow hedges. As a result, the pretax losses on derivatives as of the date of the merger were reclassified from AOCI to Regulatory assets. | |||||||||||||||||||||||
Undesignated Contracts - Location And Amount Of Pre-Tax Gains And (Losses) Recognized In Income Or As Regulatory Assets Or Liabilities | The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Fuel used in electric generation and purchased power | $ | (29 | ) | $ | (129 | ) | $ | (339 | ) | |||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (4 | ) | (5 | ) | (2 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (33 | ) | $ | (134 | ) | $ | (341 | ) | |||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (151 | ) | $ | 16 | $ | (116 | ) | ||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | 2 | 5 | — | |||||||||||||||||||||
Regulatory liabilities | 2 | — | — | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (147 | ) | $ | 21 | $ | (116 | ) | ||||||||||||||||
Duke Energy Ohio [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Location And Fair Value Amounts Of Derivatives Reflected In The Condensed Consolidated Balance Sheets | The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current assets: other | $ | 1 | $ | — | $ | 186 | $ | 163 | ||||||||||||||||
Current assets: assets held for sale | 28 | 4 | — | — | ||||||||||||||||||||
Investments and other assets: other | — | — | 202 | 130 | ||||||||||||||||||||
Investments and other assets: assets held for sale | 26 | 4 | — | — | ||||||||||||||||||||
Current liabilities: other | — | — | 1 | 36 | ||||||||||||||||||||
Current liabilities: assets held for sale | 175 | 252 | — | — | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | — | 2 | 56 | ||||||||||||||||||||
Deferred credits and other liabilities: assets held for sale | 111 | 207 | — | — | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Current liabilities: other | — | 1 | — | 1 | ||||||||||||||||||||
Deferred credits and other liabilities: other | — | 5 | — | 4 | ||||||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 341 | 473 | 391 | 390 | ||||||||||||||||||||
Total Derivatives | $ | 341 | $ | 473 | $ | 391 | $ | 390 | ||||||||||||||||
Offsetting Assets | The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(e) | Non-Current(f) | ||||||||||||||||||||
Gross amounts recognized | $ | 204 | $ | 137 | $ | 186 | $ | 205 | ||||||||||||||||
Gross amounts offset | (179 | ) | (114 | ) | (165 | ) | (132 | ) | ||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 25 | $ | 23 | $ | 21 | $ | 73 | ||||||||||||||||
Offsetting Liabilities | ||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(g) | Non-Current(h) | ||||||||||||||||||||
Gross amounts recognized | $ | 257 | $ | 216 | $ | 199 | $ | 186 | ||||||||||||||||
Gross amounts offset | (222 | ) | (193 | ) | (173 | ) | (143 | ) | ||||||||||||||||
Net amounts subject to master netting | 35 | 23 | 26 | 43 | ||||||||||||||||||||
Amounts not subject to master netting | — | — | 1 | 4 | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 35 | $ | 23 | $ | 27 | $ | 47 | ||||||||||||||||
(a) Included in Other and Assets Held for Sale within Current Assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||
(b) | Included in Other and Assets held for Sale within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other and Liabilities Associated with Assets Held for Sale within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other and Liabilities Associated with Assets Held for Sale within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(e) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(f) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(g) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(h) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
Undesignated Contracts - Location And Amount Of Pre-Tax Gains And (Losses) Recognized In Income Or As Regulatory Assets Or Liabilities | The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Statements of Operations and Comprehensive Income or the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Income (Loss) from discontinued operations | (758 | ) | (56 | ) | 78 | |||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | (1 | ) | (1 | ) | (1 | ) | ||||||||||||||||||
Total Pretax (Losses) Gains Recognized in Earnings | $ | (759 | ) | $ | (57 | ) | $ | 77 | ||||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | 1 | $ | — | $ | 2 | ||||||||||||||||||
Regulatory liabilities | 5 | — | (1 | ) | ||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | (2 | ) | 4 | — | ||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | 4 | $ | 4 | $ | 1 | ||||||||||||||||||
Duke Energy Indiana [Member] | ||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||
Location And Fair Value Amounts Of Derivatives Reflected In The Condensed Consolidated Balance Sheets | The following table shows the fair value of derivatives and the line items in the Consolidated Balance Sheets where they are reported. 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. | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(in millions) | Asset | Liability | Asset | Liability | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Current Assets: Other | $ | 14 | $ | — | $ | 12 | $ | — | ||||||||||||||||
Total Derivatives Not Designated as Hedging Instruments | 14 | — | 12 | — | ||||||||||||||||||||
Total Derivatives | $ | 14 | $ | — | $ | 12 | $ | — | ||||||||||||||||
Offsetting Assets | The tables below show the balance sheet location of derivative contracts subject to enforceable master netting agreements and include collateral posted to offset the net position. This disclosure is intended to enable users to evaluate the effect of netting arrangements on financial position. The amounts shown were 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 | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(a) | Non-Current(b) | Current(a) | Non-Current(b) | ||||||||||||||||||||
Gross amounts recognized | $ | 14 | $ | — | $ | 12 | $ | — | ||||||||||||||||
Gross amounts offset | — | — | (1 | ) | — | |||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | 14 | $ | — | $ | 11 | $ | — | ||||||||||||||||
Offsetting Liabilities | ||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Current(c) | Non-Current(d) | Current(c) | Non-Current(d) | ||||||||||||||||||||
Gross amounts recognized | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Gross amounts offset | — | — | — | — | ||||||||||||||||||||
Net amount subject to master netting | — | — | — | — | ||||||||||||||||||||
Amounts not subject to master netting | — | — | — | — | ||||||||||||||||||||
Net amounts recognized on the Consolidated Balance Sheet | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
(a) | Included in Other within Current Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(b) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(c) | Included in Other within Current Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
(d) | Included in Other within Deferred Credits and Other Liabilities on the Consolidated Balance Sheet. | |||||||||||||||||||||||
Cash Flow Hedges-Location And Amount Of Pre-Tax (Losses) Recognized In Comprehensive Income | The following table shows the gains and losses during the year recognized on cash flow hedges and the line items on the Consolidated Statements of Operations and Comprehensive Income where such gains and losses are included when reclassified from AOCI. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Reclassified from AOCI into Earnings | ||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Interest expense | $ | — | $ | 3 | $ | 3 | ||||||||||||||||||
Undesignated Contracts - Location And Amount Of Pre-Tax Gains And (Losses) Recognized In Income Or As Regulatory Assets Or Liabilities | The following table shows the gains and losses during the year recognized on undesignated derivatives and the line items on the Consolidated Balance Sheets where the pretax gains and losses were reported. Amounts included in Regulatory Assets or Liabilities for commodity contracts are reclassified to earnings to match recovery through the fuel clause. Amounts included in Regulatory Assets or Liabilities for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized in Earnings | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Revenue: Regulated electric | $ | — | $ | 1 | $ | — | ||||||||||||||||||
Location of Pretax Gains and (Losses) Recognized as Regulatory Assets or Liabilities | ||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||
Regulatory assets | $ | (16 | ) | $ | — | $ | 2 | |||||||||||||||||
Regulatory liabilities | 9 | 16 | 35 | |||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||
Regulatory assets | — | 34 | 4 | |||||||||||||||||||||
Regulatory liabilities | — | — | — | |||||||||||||||||||||
Total Pretax Gains (Losses) Recognized as Regulatory Assets or Liabilities | $ | (7 | ) | $ | 50 | $ | 41 | |||||||||||||||||
Investments_in_Debt_and_Equity1
Investments in Debt and Equity Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||||||||||||||||
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. | |||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 136 | $ | — | $ | — | $ | 110 | ||||||||||||
Equity securities | 1,926 | 29 | 3,650 | 1,813 | 10 | 3,579 | ||||||||||||||||||
Corporate debt securities | 14 | 2 | 454 | 8 | 6 | 400 | ||||||||||||||||||
Municipal bonds | 5 | — | 184 | 2 | 6 | 160 | ||||||||||||||||||
U.S. government bonds | 19 | 2 | 978 | 7 | 12 | 730 | ||||||||||||||||||
Other debt securities | 1 | 2 | 147 | 22 | 2 | 154 | ||||||||||||||||||
Total NDTF | 1,965 | 35 | 5,549 | 1,852 | 36 | 5,133 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | 15 | — | — | 21 | ||||||||||||||||||
Equity securities | 34 | — | 96 | 29 | — | 91 | ||||||||||||||||||
Corporate debt securities | 1 | 1 | 58 | 1 | 1 | 99 | ||||||||||||||||||
Municipal bonds | 3 | 1 | 76 | 2 | 2 | 79 | ||||||||||||||||||
U.S. government bonds | — | — | 27 | — | — | 17 | ||||||||||||||||||
Other debt securities | 1 | 1 | 80 | — | 8 | 111 | ||||||||||||||||||
Total Other Investments(a) | 39 | 3 | 352 | 32 | 11 | 418 | ||||||||||||||||||
Total Investments | $ | 2,004 | $ | 38 | $ | 5,901 | $ | 1,884 | $ | 47 | $ | 5,551 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. | |||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | 178 | |||||||||||||||||||||||
Due after one through five years | 571 | |||||||||||||||||||||||
Due after five through 10 years | 464 | |||||||||||||||||||||||
Due after 10 years | 791 | |||||||||||||||||||||||
Total | 2,004 | |||||||||||||||||||||||
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 271 | $ | 209 | $ | 117 | ||||||||||||||||||
Realized losses | 105 | 65 | 19 | |||||||||||||||||||||
Duke Energy Carolinas [Member] | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||||||||||||||||
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 51 | $ | — | $ | — | $ | 42 | ||||||||||||
Equity securities | 1,102 | 17 | 2,162 | 974 | 6 | 1,964 | ||||||||||||||||||
Corporate debt securities | 8 | 2 | 316 | 5 | 5 | 274 | ||||||||||||||||||
Municipal bonds | 1 | — | 62 | — | 2 | 54 | ||||||||||||||||||
U.S. government bonds | 7 | 1 | 308 | 3 | 7 | 354 | ||||||||||||||||||
Other debt securities | 1 | 2 | 133 | 22 | 2 | 146 | ||||||||||||||||||
Total NDTF | 1,119 | 22 | 3,032 | 1,004 | 22 | 2,834 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Other debt securities | — | 1 | 3 | — | 1 | 3 | ||||||||||||||||||
Total Other Investments(a) | — | 1 | 3 | — | 1 | 3 | ||||||||||||||||||
Total Investments | $ | 1,119 | $ | 23 | $ | 3,035 | $ | 1,004 | $ | 23 | $ | 2,837 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. | |||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 1 | ||||||||||||||||||||||
Due after one through five years | 155 | |||||||||||||||||||||||
Due after five through 10 years | 257 | |||||||||||||||||||||||
Due after 10 years | 409 | |||||||||||||||||||||||
Total | $ | 822 | ||||||||||||||||||||||
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 109 | $ | 115 | $ | 89 | ||||||||||||||||||
Realized losses | 93 | 12 | 6 | |||||||||||||||||||||
Progress Energy [Member] | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||||||||||||||||
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. | |||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 85 | $ | — | $ | — | $ | 68 | ||||||||||||
Equity securities | 824 | 12 | 1,488 | 839 | 4 | 1,615 | ||||||||||||||||||
Corporate debt securities | 6 | — | 138 | 3 | 1 | 126 | ||||||||||||||||||
Municipal bonds | 4 | — | 122 | 2 | 4 | 106 | ||||||||||||||||||
U.S. government bonds | 12 | 1 | 670 | 4 | 5 | 376 | ||||||||||||||||||
Other debt securities | — | — | 14 | — | — | 8 | ||||||||||||||||||
Total NDTF | 846 | 13 | 2,517 | 848 | 14 | 2,299 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | 15 | — | — | 20 | ||||||||||||||||||
Municipal bonds | 3 | — | 43 | 1 | — | 39 | ||||||||||||||||||
Total Other Investments(a) | 3 | — | 58 | 1 | — | 59 | ||||||||||||||||||
Total Investments | $ | 849 | $ | 13 | $ | 2,575 | $ | 849 | $ | 14 | $ | 2,358 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. | |||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 161 | ||||||||||||||||||||||
Due after one through five years | 350 | |||||||||||||||||||||||
Due after five through 10 years | 157 | |||||||||||||||||||||||
Due after 10 years | 319 | |||||||||||||||||||||||
Total | $ | 987 | ||||||||||||||||||||||
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 157 | $ | 90 | $ | 34 | ||||||||||||||||||
Realized losses | 11 | 46 | 18 | |||||||||||||||||||||
Duke Energy Progress [Member] | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||||||||||||||||
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 50 | $ | — | $ | — | $ | 48 | ||||||||||||
Equity securities | 612 | 10 | 1,171 | 535 | 3 | 1,069 | ||||||||||||||||||
Corporate debt securities | 5 | — | 97 | 3 | 1 | 80 | ||||||||||||||||||
Municipal bonds | 4 | — | 120 | 2 | 4 | 104 | ||||||||||||||||||
U.S. government bonds | 9 | 1 | 265 | 4 | 3 | 232 | ||||||||||||||||||
Other debt securities | — | — | 8 | — | — | 5 | ||||||||||||||||||
Total NDTF | 630 | 11 | 1,711 | 544 | 11 | 1,538 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | — | — | — | 2 | ||||||||||||||||||
Total Other Investments(a) | — | — | — | — | — | 2 | ||||||||||||||||||
Total Investments | $ | 630 | $ | 11 | $ | 1,711 | $ | 544 | $ | 11 | $ | 1,540 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. | |||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 14 | ||||||||||||||||||||||
Due after one through five years | 140 | |||||||||||||||||||||||
Due after five through 10 years | 109 | |||||||||||||||||||||||
Due after 10 years | 227 | |||||||||||||||||||||||
Total | $ | 490 | ||||||||||||||||||||||
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 19 | $ | 58 | $ | 21 | ||||||||||||||||||
Realized losses | 5 | 26 | 8 | |||||||||||||||||||||
Duke Energy Florida [Member] | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||||||||||||||||
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
NDTF | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 35 | $ | — | $ | — | $ | 20 | ||||||||||||
Equity securities | 212 | 2 | 317 | 304 | 1 | 546 | ||||||||||||||||||
Corporate debt securities | 1 | — | 41 | — | — | 46 | ||||||||||||||||||
Municipal bonds | — | — | 2 | — | — | 2 | ||||||||||||||||||
U.S. government bonds | 3 | — | 405 | — | 2 | 144 | ||||||||||||||||||
Other debt securities | — | — | 6 | — | — | 3 | ||||||||||||||||||
Total NDTF | 216 | 2 | 806 | 304 | 3 | 761 | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | — | — | 1 | — | — | 3 | ||||||||||||||||||
Municipal bonds | 3 | — | 43 | 1 | — | 39 | ||||||||||||||||||
Total Other Investments(a) | 3 | — | 44 | 1 | — | 42 | ||||||||||||||||||
Total Investments | $ | 219 | $ | 2 | $ | 850 | $ | 305 | $ | 3 | $ | 803 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. | |||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 147 | ||||||||||||||||||||||
Due after one through five years | 210 | |||||||||||||||||||||||
Due after five through 10 years | 48 | |||||||||||||||||||||||
Due after 10 years | 92 | |||||||||||||||||||||||
Total | $ | 497 | ||||||||||||||||||||||
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of available-for-sale securities were as follows. | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Realized gains | $ | 138 | $ | 32 | $ | 13 | ||||||||||||||||||
Realized losses | 5 | 20 | 9 | |||||||||||||||||||||
Duke Energy Indiana [Member] | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||||||||||||||||||
Available-For-Sale Investments | The following table presents the estimated fair value of investments in available-for-sale securities. | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
(in millions) | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||||||||
Other Investments | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1 | ||||||||||||
Equity securities | 28 | — | 71 | 24 | — | 65 | ||||||||||||||||||
Municipal bonds | — | 1 | 30 | — | 1 | 28 | ||||||||||||||||||
Total Other Investments(a) | 28 | 1 | 101 | 24 | 1 | 94 | ||||||||||||||||||
Total Investments | $ | 28 | $ | 1 | $ | 101 | $ | 24 | $ | 1 | $ | 94 | ||||||||||||
(a) | These amounts are recorded in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||
Schedule of Maturity Dates for Debt Securities | The table below summarizes the maturity date for debt securities. | |||||||||||||||||||||||
(in millions) | December 31, 2014 | |||||||||||||||||||||||
Due in one year or less | $ | 1 | ||||||||||||||||||||||
Due after one through five years | 17 | |||||||||||||||||||||||
Due after five through 10 years | 8 | |||||||||||||||||||||||
Due after 10 years | 4 | |||||||||||||||||||||||
Total | $ | 30 | ||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Line Items] | ||||||||||||||||
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 3,650 | $ | 3,493 | $ | 6 | $ | 151 | ||||||||
Nuclear decommissioning trust fund debt securities | 1,899 | 648 | 1,251 | — | ||||||||||||
Other trading and available-for-sale equity securities | 96 | 96 | — | — | ||||||||||||
Other trading and available-for-sale debt securities | 263 | 41 | 217 | 5 | ||||||||||||
Derivative assets | 110 | 49 | 24 | 37 | ||||||||||||
Total assets | 6,018 | 4,327 | 1,498 | 193 | ||||||||||||
Derivative liabilities | (668 | ) | (162 | ) | (468 | ) | (38 | ) | ||||||||
Net assets | $ | 5,350 | $ | 4,165 | $ | 1,030 | $ | 155 | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 3,579 | $ | 3,495 | $ | 57 | $ | 27 | ||||||||
Nuclear decommissioning trust fund debt securities | 1,553 | 402 | 1,100 | 51 | ||||||||||||
Other trading and available-for-sale equity securities | 102 | 91 | 11 | — | ||||||||||||
Other trading and available-for-sale debt securities | 333 | 36 | 277 | 20 | ||||||||||||
Derivative assets | 145 | 33 | 70 | 42 | ||||||||||||
Total assets | 5,712 | 4,057 | 1,515 | 140 | ||||||||||||
Derivative liabilities | (321 | ) | 11 | (303 | ) | (29 | ) | |||||||||
Net assets | $ | 5,391 | $ | 4,068 | $ | 1,212 | $ | 111 | ||||||||
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs | The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Amounts included in earnings for derivatives are primarily included in Operating Revenues. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 98 | $ | 13 | $ | 111 | ||||||||||
Total pretax realized or unrealized gains (losses) included in earnings | — | (7 | ) | (7 | ) | |||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 34 | 50 | 84 | |||||||||||||
Sales | (58 | ) | — | (58 | ) | |||||||||||
Settlements | — | (54 | ) | (54 | ) | |||||||||||
Transfers into Level 3 | 68 | 6 | 74 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 14 | (9 | ) | 5 | ||||||||||||
Balance at end of period | $ | 156 | $ | (1 | ) | $ | 155 | |||||||||
Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding | $ | — | $ | (14 | ) | $ | (14 | ) | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 98 | $ | (85 | ) | $ | 13 | |||||||||
Total pretax realized or unrealized gains (losses) included in earnings | — | (42 | ) | (42 | ) | |||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 9 | 21 | 30 | |||||||||||||
Sales | (6 | ) | — | (6 | ) | |||||||||||
Issuances | — | 11 | 11 | |||||||||||||
Settlements | (9 | ) | 25 | 16 | ||||||||||||
Transfers into Level 3 | — | 86 | 86 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 6 | (3 | ) | 3 | ||||||||||||
Balance at end of period | $ | 98 | $ | 13 | $ | 111 | ||||||||||
December 31, 2012 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 124 | $ | (39 | ) | $ | 85 | |||||||||
Amounts acquired in Progress Energy Merger | — | (30 | ) | (30 | ) | |||||||||||
Total pretax realized or unrealized gains (losses) included in earnings | — | 8 | 8 | |||||||||||||
Total pretax gains included in other comprehensive income | 13 | — | 13 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 14 | 22 | 36 | |||||||||||||
Sales | (2 | ) | — | (2 | ) | |||||||||||
Issuances | — | (15 | ) | (15 | ) | |||||||||||
Settlements | (55 | ) | (32 | ) | (87 | ) | ||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 4 | 1 | 5 | |||||||||||||
Balance at end of period | $ | 98 | $ | (85 | ) | $ | 13 | |||||||||
Schedule of Long-term debt, including current | The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements. | |||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
(in millions) | Book Value | Fair Value | Book Value | Fair Value | ||||||||||||
Duke Energy | $ | 40,020 | $ | 44,566 | $ | 40,256 | $ | 42,592 | ||||||||
Duke Energy Carolinas | 8,391 | 9,626 | 8,436 | 9,123 | ||||||||||||
Progress Energy | 14,754 | 16,951 | 14,115 | 15,234 | ||||||||||||
Duke Energy Progress | 6,201 | 6,696 | 5,235 | 5,323 | ||||||||||||
Duke Energy Florida | 4,860 | 5,767 | 4,886 | 5,408 | ||||||||||||
Duke Energy Ohio | 1,766 | 1,970 | 2,188 | 2,237 | ||||||||||||
Duke Energy Indiana | 3,791 | 4,456 | 3,796 | 4,171 | ||||||||||||
Quantitative Information Table - Level 3 | The following table includes quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
Investment Type | Fair Value | Valuation Technique | Unobservable Input | Range | ||||||||||||
(in millions) | ||||||||||||||||
Duke Energy | ||||||||||||||||
Natural gas contracts | $ | (5 | ) | Discounted cash flow | Forward natural gas curves - price per Million British Thermal Unit (MMBtu) | $ | 2.12 | - | 4.35 | |||||||
Financial transmission rights (FTRs) | 14 | RTO auction pricing | FTR price - per Megawatt-Hour (MWh) | (1.92 | ) | - | 9.86 | |||||||||
Electricity contracts | (1 | ) | Discounted cash flow | Forward electricity curves - price per MWh | 25.16 | - | 51.75 | |||||||||
Commodity capacity option contracts | 2 | Discounted cash flow | Forward capacity option curves - price per MW day | 21 | - | 109 | ||||||||||
Reserves | (11 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | (1 | ) | |||||||||||||
Duke Energy Ohio | ||||||||||||||||
Electricity contracts | $ | (6 | ) | Discounted cash flow | Forward electricity curves - price per MWh | $ | 25.25 | - | 51.75 | |||||||
Natural gas contracts | (5 | ) | Discounted cash flow | Forward natural gas curves - price per MMBtu | 2.12 | - | 4.35 | |||||||||
Reserves | (7 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | (18 | ) | |||||||||||||
Duke Energy Indiana | ||||||||||||||||
FTRs | $ | 14 | RTO auction pricing | FTR price - per MWh | $ | (1.92 | ) | - | 9.86 | |||||||
December 31, 2013 | ||||||||||||||||
Investment Type | Fair Value | Valuation Technique | Unobservable Input | Range | ||||||||||||
(in millions) | ||||||||||||||||
Duke Energy | ||||||||||||||||
Natural gas contracts | $ | (2 | ) | Discounted cash flow | Forward natural gas curves - price per MMBtu | $ | 3.07 | - | 5.37 | |||||||
FERC mitigation power sale agreements | (2 | ) | Discounted cash flow | Forward electricity curves - price per MWh | 25.79 | - | 52.38 | |||||||||
FTRs | 12 | RTO auction pricing | FTR price - per MWh | (0.30 | ) | - | 13.8 | |||||||||
Electricity contracts | 23 | Discounted cash flow | Forward electricity curves - price per MWh | 20.77 | - | 58.9 | ||||||||||
Commodity capacity option contracts | 4 | Discounted cash flow | Forward capacity option curves - price per MW day | 30.4 | - | 165.1 | ||||||||||
Reserves | (22 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | 13 | ||||||||||||||
Duke Energy Carolinas | ||||||||||||||||
FERC mitigation power sale agreements | $ | (2 | ) | Discounted cash flow | Forward electricity curves - price per MWh | $ | 25.79 | - | 52.38 | |||||||
Duke Energy Ohio | ||||||||||||||||
Electricity contracts | $ | 18 | Discounted cash flow | Forward electricity curves - price per MWh | $ | 20.77 | - | 58.9 | ||||||||
Natural gas contracts | (2 | ) | Discounted cash flow | Forward natural gas curves - price per MMBtu | 3.07 | - | 5.37 | |||||||||
Reserves | (20 | ) | Bid-ask spreads, implied volatility, probability of default | |||||||||||||
Total Level 3 derivatives | $ | (4 | ) | |||||||||||||
Duke Energy Indiana | ||||||||||||||||
FTRs | $ | 12 | RTO auction pricing | FTR price - per MWh | $ | (0.30 | ) | - | 13.8 | |||||||
Duke Energy Carolinas [Member] | ||||||||||||||||
Fair Value Disclosures [Line Items] | ||||||||||||||||
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 2,162 | $ | 2,005 | $ | 6 | $ | 151 | ||||||||
Nuclear decommissioning trust fund debt securities | 870 | 138 | 732 | — | ||||||||||||
Other trading and available-for-sale debt securities | 3 | — | — | 3 | ||||||||||||
Total assets | 3,035 | 2,143 | 738 | 154 | ||||||||||||
Derivative liabilities | (19 | ) | — | (19 | ) | — | ||||||||||
Net assets | $ | 3,016 | $ | 2,143 | $ | 719 | $ | 154 | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,964 | $ | 1,879 | $ | 58 | $ | 27 | ||||||||
Nuclear decommissioning trust fund debt securities | 870 | 168 | 651 | 51 | ||||||||||||
Other trading and available-for-sale debt securities | 3 | — | — | 3 | ||||||||||||
Total assets | 2,837 | 2,047 | 709 | 81 | ||||||||||||
Derivative liabilities | (2 | ) | — | — | (2 | ) | ||||||||||
Net assets | $ | 2,835 | $ | 2,047 | $ | 709 | $ | 79 | ||||||||
Reconciliation Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs | The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 81 | $ | (2 | ) | $ | 79 | |||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 34 | — | 34 | |||||||||||||
Sales | (43 | ) | — | (43 | ) | |||||||||||
Settlements | — | 2 | 2 | |||||||||||||
Transfers into Level 3 | 68 | — | 68 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 14 | — | 14 | |||||||||||||
Balance at end of period | $ | 154 | $ | — | $ | 154 | ||||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 72 | $ | (12 | ) | $ | 60 | |||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 9 | — | 9 | |||||||||||||
Issuances | (6 | ) | — | (6 | ) | |||||||||||
Settlements | — | 10 | 10 | |||||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 6 | — | 6 | |||||||||||||
Balance at end of period | $ | 81 | $ | (2 | ) | $ | 79 | |||||||||
December 31, 2012 | ||||||||||||||||
(in millions) | Investments | Derivatives (net) | Total | |||||||||||||
Balance at beginning of period | $ | 65 | $ | — | $ | 65 | ||||||||||
Total pretax gains included in other comprehensive income | 2 | — | 2 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 14 | — | 14 | |||||||||||||
Sales | — | (14 | ) | (14 | ) | |||||||||||
Issuances | (2 | ) | — | (2 | ) | |||||||||||
Settlements | (11 | ) | 2 | (9 | ) | |||||||||||
Total gains included on the Consolidated Balance Sheet as regulatory assets or liabilities | 4 | — | 4 | |||||||||||||
Balance at end of period | $ | 72 | $ | (12 | ) | $ | 60 | |||||||||
Progress Energy [Member] | ||||||||||||||||
Fair Value Disclosures [Line Items] | ||||||||||||||||
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis end on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,488 | $ | 1,488 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities | 1,029 | 510 | 519 | — | ||||||||||||
Other trading and available-for-sale debt securities | 58 | 15 | 43 | — | ||||||||||||
Derivative assets | 4 | — | 4 | — | ||||||||||||
Total assets | 2,579 | 2,013 | 566 | — | ||||||||||||
Derivative liabilities | (373 | ) | — | (373 | ) | — | ||||||||||
Net assets | $ | 2,206 | $ | 2,013 | $ | 193 | $ | — | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,615 | $ | 1,615 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities | 677 | 233 | 444 | — | ||||||||||||
Other trading and available-for-sale debt securities | 58 | 19 | 39 | — | ||||||||||||
Derivative assets | 3 | — | 3 | — | ||||||||||||
Total assets | 2,353 | 1,867 | 486 | — | ||||||||||||
Derivative liabilities | (187 | ) | — | (187 | ) | — | ||||||||||
Net assets | $ | 2,166 | $ | 1,867 | $ | 299 | $ | — | ||||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | — | $ | (38 | ) | $ | (24 | ) | ||||||||
Total pretax realized or unrealized gains included in earnings | — | — | 1 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Issuances | — | 10 | (16 | ) | ||||||||||||
Settlements | — | — | 4 | |||||||||||||
Transfers into Level 3 | — | 34 | — | |||||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | — | (6 | ) | (3 | ) | |||||||||||
Balance at end of period | $ | — | $ | — | $ | (38 | ) | |||||||||
Duke Energy Progress [Member] | ||||||||||||||||
Fair Value Disclosures [Line Items] | ||||||||||||||||
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,171 | $ | 1,171 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 540 | 151 | 389 | — | ||||||||||||
Total assets | 1,711 | 1,322 | 389 | — | ||||||||||||
Derivative liabilities | (132 | ) | — | (132 | ) | — | ||||||||||
Net assets | $ | 1,579 | $ | 1,322 | $ | 257 | $ | — | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 1,069 | $ | 1,069 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 470 | 137 | 333 | — | ||||||||||||
Other trading and available-for-sale debt securities and other | 3 | 3 | — | — | ||||||||||||
Derivative assets | 1 | — | 1 | — | ||||||||||||
Total assets | 1,543 | 1,209 | 334 | — | ||||||||||||
Derivative liabilities | (66 | ) | — | (66 | ) | — | ||||||||||
Net assets | $ | 1,477 | $ | 1,209 | $ | 268 | $ | — | ||||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | — | $ | (38 | ) | $ | (24 | ) | ||||||||
Total pretax realized or unrealized gains included in earnings | — | — | 1 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Issuances | — | 10 | (16 | ) | ||||||||||||
Settlements | — | — | 4 | |||||||||||||
Transfers into Level 3 | — | 34 | — | |||||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | — | (6 | ) | (3 | ) | |||||||||||
Balance at end of period | $ | — | $ | — | $ | (38 | ) | |||||||||
Duke Energy Florida [Member] | ||||||||||||||||
Fair Value Disclosures [Line Items] | ||||||||||||||||
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 317 | $ | 317 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 489 | 359 | 130 | — | ||||||||||||
Other trading and available-for-sale debt securities and other | 44 | — | 44 | — | ||||||||||||
Derivative assets | 4 | — | 4 | — | ||||||||||||
Total assets | 854 | 676 | 178 | — | ||||||||||||
Derivative liabilities | (241 | ) | — | (241 | ) | — | ||||||||||
Net assets (liabilities) | $ | 613 | $ | 676 | $ | (63 | ) | $ | — | |||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Nuclear decommissioning trust fund equity securities | $ | 546 | $ | 546 | $ | — | $ | — | ||||||||
Nuclear decommissioning trust fund debt securities and other | 214 | 96 | 118 | — | ||||||||||||
Other trading and available-for-sale debt securities and other | 40 | 2 | 38 | — | ||||||||||||
Derivative assets | 1 | — | 1 | — | ||||||||||||
Total assets | 801 | 644 | 157 | — | ||||||||||||
Derivative liabilities | (116 | ) | — | (116 | ) | — | ||||||||||
Net assets | $ | 685 | $ | 644 | $ | 41 | $ | — | ||||||||
Duke Energy Ohio [Member] | ||||||||||||||||
Fair Value Disclosures [Line Items] | ||||||||||||||||
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which are disclosed in Note 14. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Derivative assets | $ | 49 | $ | 20 | $ | 9 | $ | 20 | ||||||||
Derivative liabilities | (181 | ) | (117 | ) | (26 | ) | (38 | ) | ||||||||
Net assets (liabilities) | $ | (132 | ) | $ | (97 | ) | $ | (17 | ) | $ | (18 | ) | ||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Derivative assets | $ | 96 | $ | 50 | $ | 21 | $ | 25 | ||||||||
Derivative liabilities | (95 | ) | (1 | ) | (65 | ) | (29 | ) | ||||||||
Net assets (liabilities) | $ | 1 | $ | 49 | $ | (44 | ) | $ | (4 | ) | ||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | (4 | ) | $ | (6 | ) | $ | (3 | ) | |||||||
Total pretax realized or unrealized gains included in earnings | (9 | ) | (42 | ) | (3 | ) | ||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 1 | 1 | — | |||||||||||||
Settlements | (13 | ) | — | 1 | ||||||||||||
Transfers into Level 3 | 6 | 43 | — | |||||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | 1 | — | (1 | ) | ||||||||||||
Balance at end of period | $ | (18 | ) | $ | (4 | ) | $ | (6 | ) | |||||||
Duke Energy Indiana [Member] | ||||||||||||||||
Fair Value Disclosures [Line Items] | ||||||||||||||||
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral, which is disclosed in Note 14. See Note 15 for additional information related to investments by major security type. | |||||||||||||||
December 31, 2014 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Available-for-sale equity securities | $ | 71 | $ | 71 | $ | — | $ | — | ||||||||
Available-for-sale debt securities | 30 | — | 30 | — | ||||||||||||
Derivative assets | 14 | — | — | 14 | ||||||||||||
Net assets (liabilities) | $ | 115 | $ | 71 | $ | 30 | $ | 14 | ||||||||
December 31, 2013 | ||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Available-for-sale equity securities | $ | 65 | $ | 65 | $ | — | $ | — | ||||||||
Available-for-sale debt securities | 29 | — | 29 | — | ||||||||||||
Derivative assets | 12 | — | — | 12 | ||||||||||||
Net assets (liabilities) | $ | 106 | $ | 65 | $ | 29 | $ | 12 | ||||||||
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) | 2014 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 12 | $ | 10 | $ | 4 | ||||||||||
Total pretax realized or unrealized gains included in earnings | 3 | 8 | 36 | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Purchases | 49 | 20 | — | |||||||||||||
Issuances | — | — | 22 | |||||||||||||
Settlements | (41 | ) | (30 | ) | (52 | ) | ||||||||||
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities | (9 | ) | 4 | — | ||||||||||||
Balance at end of period | $ | 14 | $ | 12 | $ | 10 | ||||||||||
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Variable Interest Entity, Primary Beneficiary [Member] | ||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||||||||||||||||
Schedule Of Variable Interest Entities | The following tables summarize the impact of VIEs consolidated by Duke Energy and the Subsidiary Registrants on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Duke Energy Carolinas | Duke Energy Progress | Duke Energy Florida | ||||||||||||||||||||||||||
(in millions) | DERF | DEPR(c) | DEFR(c) | CRC | Renewables | Other | Total | |||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | $ | 647 | $ | 436 | $ | 305 | $ | 547 | $ | 20 | $ | 18 | $ | 1,973 | ||||||||||||||
Other | — | — | — | — | 68 | 6 | 74 | |||||||||||||||||||||
Investments and Other Assets | ||||||||||||||||||||||||||||
Other | — | — | — | — | 25 | 25 | 50 | |||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||||||||||
Property, plant and equipment, cost(a) | — | — | — | — | 1,855 | 18 | 1,873 | |||||||||||||||||||||
Accumulated depreciation and amortization | — | — | — | — | (250 | ) | (5 | ) | (255 | ) | ||||||||||||||||||
Regulatory Assets and Deferred Debits | ||||||||||||||||||||||||||||
Other | — | — | — | — | 34 | 2 | 36 | |||||||||||||||||||||
Total assets | $ | 647 | $ | 436 | $ | 305 | $ | 547 | $ | 1,752 | $ | 64 | $ | 3,751 | ||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||
Accounts payable | — | — | — | — | 3 | — | 3 | |||||||||||||||||||||
Taxes accrued | — | — | — | — | 6 | — | 6 | |||||||||||||||||||||
Current maturities of long-term debt | — | — | — | — | 68 | 16 | 84 | |||||||||||||||||||||
Other | — | — | — | — | 16 | 5 | 21 | |||||||||||||||||||||
Long-Term Debt(b) | 400 | 300 | 225 | 325 | 967 | 17 | 2,234 | |||||||||||||||||||||
Deferred Credits and Other Liabilities | ||||||||||||||||||||||||||||
Deferred income taxes | — | — | — | — | 283 | — | 283 | |||||||||||||||||||||
Asset retirement obligations | — | — | — | — | 29 | — | 29 | |||||||||||||||||||||
Other | — | — | — | — | 34 | 4 | 38 | |||||||||||||||||||||
Total liabilities | $ | 400 | $ | 300 | $ | 225 | $ | 325 | $ | 1,406 | $ | 42 | $ | 2,698 | ||||||||||||||
Net assets of consolidated variable interest entities | $ | 247 | $ | 136 | $ | 80 | $ | 222 | $ | 346 | $ | 22 | $ | 1,053 | ||||||||||||||
(a) | Restricted as collateral for non-recourse debt of VIEs. | |||||||||||||||||||||||||||
(b) | Non-recourse to the general assets of the applicable registrant. | |||||||||||||||||||||||||||
(c) | The amount for Progress Energy is equal to the amount for Duke Energy Progress Receivables Company, LLC (DEPR) and Duke Energy Florida Receivables Company, LLC (DEFR). | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
Duke Energy Carolinas | Duke Energy Progress | |||||||||||||||||||||||||||
(in millions) | DERF | DEPR(c) | CRC | Renewables | Other | Total | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | $ | 673 | $ | 416 | $ | 595 | $ | 18 | $ | 17 | $ | 1,719 | ||||||||||||||||
Other | — | — | — | 89 | 12 | 101 | ||||||||||||||||||||||
Investments and Other Assets | ||||||||||||||||||||||||||||
Other | — | — | — | 29 | 51 | 80 | ||||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||||||||||
Property, plant and equipment, cost(a) | — | — | — | 1,662 | 18 | 1,680 | ||||||||||||||||||||||
Accumulated depreciation and amortization | — | — | — | (170 | ) | (5 | ) | (175 | ) | |||||||||||||||||||
Regulatory Assets and Deferred Debits | ||||||||||||||||||||||||||||
Other | 1 | 1 | — | 34 | — | 36 | ||||||||||||||||||||||
Total assets | $ | 674 | $ | 417 | $ | 595 | $ | 1,662 | $ | 93 | $ | 3,441 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||
Accounts payable | — | — | — | 2 | — | 2 | ||||||||||||||||||||||
Taxes accrued | — | — | — | 10 | — | 10 | ||||||||||||||||||||||
Current maturities of long-term debt | — | — | — | 66 | 14 | 80 | ||||||||||||||||||||||
Other | — | — | — | 17 | 10 | 27 | ||||||||||||||||||||||
Long-Term Debt(b) | 400 | 300 | 325 | 907 | 34 | 1,966 | ||||||||||||||||||||||
Deferred Credits and Other Liabilities | — | |||||||||||||||||||||||||||
Deferred income taxes | — | — | — | 290 | — | 290 | ||||||||||||||||||||||
Asset retirement obligations | — | — | — | 26 | — | 26 | ||||||||||||||||||||||
Other | 1 | — | — | 17 | 13 | 31 | ||||||||||||||||||||||
Total liabilities | $ | 401 | $ | 300 | $ | 325 | $ | 1,335 | $ | 71 | $ | 2,432 | ||||||||||||||||
Net assets of consolidated variable interest entities | $ | 273 | $ | 117 | $ | 270 | $ | 327 | $ | 22 | $ | 1,009 | ||||||||||||||||
(a) | Restricted as collateral for non-recourse debt of VIEs. | |||||||||||||||||||||||||||
(b) | Non-recourse to the general assets of the applicable registrant. | |||||||||||||||||||||||||||
(c) | The amount Progress Energy is equal to the amount for DEPR. | |||||||||||||||||||||||||||
The following table outlines amounts and expiration dates of the credit facilities. | ||||||||||||||||||||||||||||
DERF | DEPR | DEFR | ||||||||||||||||||||||||||
Credit facility amount (in millions) | $ | 400 | $ | 300 | $ | 225 | ||||||||||||||||||||||
Expiration date | Oct-16 | Dec-16 | Mar-17 | |||||||||||||||||||||||||
Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||||||||||||||||
Schedule Of Variable Interest Entities | The tables below show VIEs not consolidated and how these entities impact the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
(in millions) | Renewables | Other | Total | Duke Energy | Duke Energy | |||||||||||||||||||||||
Ohio | Indiana | |||||||||||||||||||||||||||
Receivables | $ | — | $ | — | $ | — | $ | 91 | $ | 113 | ||||||||||||||||||
Investments in equity method unconsolidated affiliates | 150 | 38 | 188 | — | — | |||||||||||||||||||||||
Investments and other assets | — | 4 | 4 | — | — | |||||||||||||||||||||||
Total assets(a) | $ | 150 | $ | 42 | $ | 192 | $ | 91 | $ | 113 | ||||||||||||||||||
Other current liabilities | — | 3 | 3 | — | — | |||||||||||||||||||||||
Deferred credits and other liabilities | — | 14 | 14 | — | — | |||||||||||||||||||||||
Total liabilities | $ | — | $ | 17 | $ | 17 | $ | — | $ | — | ||||||||||||||||||
Net assets (liabilities) | $ | 150 | $ | 25 | $ | 175 | $ | 91 | $ | 113 | ||||||||||||||||||
(a) | Duke Energy Ohio recorded a pretax impairment charge of $94 million related to OVEC. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Duke Energy | ||||||||||||||||||||||||||||
(in millions) | Renewables | Other | Total | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||
Receivables | $ | — | $ | — | $ | — | $ | 114 | $ | 143 | ||||||||||||||||||
Investments in equity method unconsolidated affiliates | 153 | 60 | 213 | — | — | |||||||||||||||||||||||
Intangibles | — | 96 | 96 | 96 | — | |||||||||||||||||||||||
Investments and other assets | — | 4 | 4 | — | — | |||||||||||||||||||||||
Total assets | $ | 153 | $ | 160 | $ | 313 | $ | 210 | $ | 143 | ||||||||||||||||||
Other current liabilities | — | 3 | 3 | — | — | |||||||||||||||||||||||
Deferred credits and other liabilities | — | 15 | 15 | — | — | |||||||||||||||||||||||
Total liabilities | $ | — | $ | 18 | $ | 18 | $ | — | $ | — | ||||||||||||||||||
Net assets | $ | 153 | $ | 142 | $ | 295 | $ | 210 | $ | 143 | ||||||||||||||||||
Cinergy Receivables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||||||||||||||||
Schedule Of Variable Interest Entities | Key assumptions used in estimating fair value are detailed in the following table. | |||||||||||||||||||||||||||
Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Anticipated credit loss ratio | 0.6 | % | 0.6 | % | 0.3 | % | 0.3 | % | ||||||||||||||||||||
Discount rate | 1.2 | % | 1.2 | % | 1.2 | % | 1.2 | % | ||||||||||||||||||||
Receivable turnover rate | 12.8 | % | 12.8 | % | 10.5 | % | 10.3 | % | ||||||||||||||||||||
The following table shows the gross and net receivables sold. | ||||||||||||||||||||||||||||
Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Receivables sold | $ | 273 | $ | 290 | $ | 310 | $ | 340 | ||||||||||||||||||||
Less: Retained interests | 91 | 114 | 113 | 143 | ||||||||||||||||||||||||
Net receivables sold | $ | 182 | $ | 176 | $ | 197 | $ | 197 | ||||||||||||||||||||
The following table shows sales and cash flows related to receivables sold. | ||||||||||||||||||||||||||||
Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||||||||
Years Ended December 31, | Years Ended December 31, | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||
Receivables sold | $ | 2,246 | $ | 2,251 | $ | 2,154 | $ | 2,913 | $ | 2,985 | $ | 2,773 | ||||||||||||||||
Loss recognized on sale | 11 | 12 | 13 | 11 | 11 | 12 | ||||||||||||||||||||||
Cash Flows | ||||||||||||||||||||||||||||
Cash proceeds from receivables sold | 2,261 | 2,220 | 2,172 | 2,932 | 2,944 | 2,784 | ||||||||||||||||||||||
Collection fees received | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||||||
Return received on retained interests | 4 | 5 | 5 | 6 | 6 | 7 | ||||||||||||||||||||||
Common_Stock_Tables
Common Stock (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Earnings Per Share [Line Items] | ||||||||||
Schedule Of Earnings Per Share | The following table presents Duke Energy’s basic and diluted EPS calculations and reconciles the weighted-average number of common shares outstanding to the diluted weighted-average number of common shares outstanding. | |||||||||
Years Ended December 31, | ||||||||||
(in millions, except per share amounts) | 2014 | 2013 | 2012 | |||||||
Income from continuing operations attributable to Duke Energy common shareholders excluding impact of participating securities | 2,446 | 2,565 | 1,588 | |||||||
Weighted-average shares outstanding - basic | 707 | 706 | 574 | |||||||
Stock options, performance and restricted shares | — | — | 1 | |||||||
Weighted-average shares outstanding - diluted | 707 | 706 | 575 | |||||||
Earnings per share from continuing operations attributable to Duke Energy common shareholders | ||||||||||
Basic | $ | 3.46 | 3.64 | 2.77 | ||||||
Diluted | $ | 3.46 | 3.63 | 2.77 | ||||||
Potentially dilutive items excluded from the calculation(a) | 2 | 2 | 1 | |||||||
Dividends declared per common share | $ | 3.15 | 3.09 | 3.03 | ||||||
(a) | Stock options and performance and unvested stock awards were not included in the dilutive securities calculation because either the option exercise prices were greater than the average market price of the common shares during those periods, or performance measures related to the awards had not yet been met. |
Severance_Tables
Severance (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||
Schedule of Severance Liability | Amounts included in the table below represent direct and allocated severance and related expense recorded by the Duke Energy Registrants, and are in Operation, maintenance and other within Operating Expenses on the Consolidated Statements of Operations. | ||||||||||||||
Year Ended December 31, | |||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||
Duke Energy(a) | $ | 34 | $ | 201 | |||||||||||
Duke Energy Carolinas | 8 | 63 | |||||||||||||
Progress Energy | 19 | 82 | |||||||||||||
Duke Energy Progress | 14 | 55 | |||||||||||||
Duke Energy Florida | 5 | 27 | |||||||||||||
Duke Energy Ohio | 2 | 21 | |||||||||||||
Duke Energy Indiana | 2 | 18 | |||||||||||||
(a) | Includes $5 million and $14 million of accelerated stock award expense and $2 million and $19 million of COBRA and health care reimbursement expenses for 2013 and 2012, respectively. | ||||||||||||||
Schedule of Severance Expense | Amounts included in the table below represent the severance liability for past and ongoing severance plans. Amounts for Subsidiary Registrants do not include allocated expense or associated cash payments. Amounts for Duke Energy Indiana are not material. | ||||||||||||||
(in millions) | Balance at December 31, 2013 | Provision / Adjustments | Cash Reductions | Balance at December 31, 2014 | |||||||||||
Duke Energy | $ | 64 | $ | 5 | $ | (41 | ) | 28 | |||||||
Duke Energy Carolinas | 5 | 2 | (5 | ) | 2 | ||||||||||
Progress Energy | 44 | (10 | ) | (16 | ) | 18 | |||||||||
Duke Energy Progress | 11 | — | (10 | ) | 1 | ||||||||||
Duke Energy Florida | 24 | (1 | ) | (6 | ) | 17 | |||||||||
Duke Energy Ohio | 2 | 5 | (1 | ) | 6 | ||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Schedule Of Total Stock-Based Compensation Expense, net of tax | The following table summarizes the total expense recognized by each of the Duke Energy Registrants, net of tax, for stock-based compensation. | ||||||||||||
Years Ended December 31, | |||||||||||||
(in millions) | 2014 | 2013 | 2012 | ||||||||||
Duke Energy | $ | 38 | $ | 52 | $ | 48 | |||||||
Duke Energy Carolinas | 12 | 13 | 12 | ||||||||||
Progress Energy | 14 | 23 | 25 | ||||||||||
Duke Energy Progress | 9 | 14 | 16 | ||||||||||
Duke Energy Florida | 5 | 9 | 9 | ||||||||||
Duke Energy Ohio | 5 | 4 | 4 | ||||||||||
Duke Energy Indiana | 3 | 4 | 4 | ||||||||||
Schedule Of Stock-Based Compensation Expense | 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) | 2014 | 2013 | 2012 | ||||||||||
Restricted stock unit awards | $ | 39 | $ | 49 | $ | 43 | |||||||
Performance awards | 22 | 34 | 33 | ||||||||||
Stock options | — | 2 | 2 | ||||||||||
Pretax stock-based compensation cost | $ | 61 | $ | 85 | $ | 78 | |||||||
Tax benefit associated with stock-based compensation expense | $ | 23 | $ | 33 | $ | 30 | |||||||
Stock-based compensation costs capitalized | 4 | 3 | 2 | ||||||||||
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes information about stock options outstanding. | ||||||||||||
Options | Weighted-Average Exercise Price (per share) | Weighted-Average Remaining Life | Aggregate Intrinsic Value | ||||||||||
(in thousands) | (in millions) | ||||||||||||
Outstanding at December 31, 2013 | 793 | $ | 61 | ||||||||||
Exercised | (420 | ) | 59 | ||||||||||
Outstanding at December 31, 2014 | 373 | 64 | 6 years, 10 months | $ | 7 | ||||||||
Exercisable at December 31, 2014 | 53 | 46 | 1 year | 2 | |||||||||
Options expected to vest | 320 | 67 | 7 years, 10 months | 5 | |||||||||
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Exercises | The following table summarizes additional information related to stock options exercised and granted. | ||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Intrinsic value of options exercised (in millions) | $ | 6 | $ | 26 | $ | 17 | |||||||
Tax benefit related to options exercised (in millions) | 2 | 10 | 7 | ||||||||||
Cash received from options exercised (in millions) | 25 | 9 | 21 | ||||||||||
Stock options granted (in thousands) | — | 310 | 340 | ||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | Restricted stock unit awards issued and outstanding generally vest over periods from immediate to 3 years. Fair value amounts are based on the market price of Duke Energy's common stock at the grant date. The following table includes information related to restricted stock unit awards. | ||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Shares awarded (in thousands) | 557 | 612 | 443 | ||||||||||
Fair value (in millions) | $ | 40 | $ | 42 | $ | 28 | |||||||
The following table summarizes information about restricted stock unit awards outstanding. | |||||||||||||
Shares | Weighted-Average | ||||||||||||
(in thousands) | Grant Date Fair Value | ||||||||||||
(Per Share) | |||||||||||||
Outstanding at December 31, 2013 | 1,400 | $ | 66 | ||||||||||
Granted | 557 | 71 | |||||||||||
Vested | (832 | ) | 62 | ||||||||||
Forfeited | (45 | ) | 68 | ||||||||||
Outstanding at December 31, 2014 | 1,080 | 69 | |||||||||||
Restricted stock unit awards expected to vest | 1,057 | 69 | |||||||||||
Schedule of Performance Awards | The following table includes information related to performance awards. | ||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Shares awarded (in thousands) | 542 | 633 | 352 | ||||||||||
Fair value (in millions) | $ | 19 | $ | 28 | $ | 19 | |||||||
Schedule of Nonvested Performance-based Units Activity | The following table summarizes information about stock-based performance awards outstanding at the maximum level. | ||||||||||||
Shares | Weighted-Average | ||||||||||||
(in thousands) | Grant Date Fair Value | ||||||||||||
(per share) | |||||||||||||
Outstanding at December 31, 2013 | 1,822 | $ | 46 | ||||||||||
Granted | 542 | 34 | |||||||||||
Vested | (524 | ) | 52 | ||||||||||
Forfeited | (213 | ) | 37 | ||||||||||
Outstanding at December 31, 2014 | 1,627 | 42 | |||||||||||
Stock-based performance awards expected to vest | 1,418 | 42 | |||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||
Pension Plan Contributions | Duke Energy’s policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants’ contributions to its U.S. qualified defined benefit pension plans. | |||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Anticipated Contributions: | ||||||||||||||||||||||||||||
2015 | $ | 302 | $ | 91 | $ | 83 | $ | 42 | $ | 40 | $ | 8 | $ | 19 | ||||||||||||||
Contributions Made: | ||||||||||||||||||||||||||||
2014 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
2013 | 250 | — | 250 | 63 | 133 | — | — | |||||||||||||||||||||
2012 | 304 | — | 346 | 141 | 128 | — | — | |||||||||||||||||||||
Employee Savings Plan Matching Contributions | The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants. | |||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ended December 31, | ||||||||||||||||||||||||||||
2014(a) | $ | 143 | $ | 47 | $ | 43 | $ | 30 | $ | 14 | $ | 3 | $ | 7 | ||||||||||||||
2013 | 134 | 45 | 45 | 25 | 14 | 3 | 7 | |||||||||||||||||||||
2012 | 107 | 37 | 45 | 24 | 15 | 4 | 6 | |||||||||||||||||||||
(a) | For 2014, amounts include the additional employer contribution of 4 percent of eligible pay per pay period for employees not eligible to participate in a defined benefit plan. | |||||||||||||||||||||||||||
Master Trust [Member] | ||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||
Fair Value and Allocation of Plan Assets | The following tables provide the fair value measurement amounts for the Duke Energy Master Retirement Trust qualified pension and other post-retirement assets. | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Equity securities | $ | 2,346 | $ | 1,625 | $ | 721 | $ | — | ||||||||||||||||||||
Corporate debt securities | 4,349 | — | 4,348 | 1 | ||||||||||||||||||||||||
Short-term investment funds | 333 | 171 | 162 | — | ||||||||||||||||||||||||
Partnership interests | 298 | — | — | 298 | ||||||||||||||||||||||||
Hedge funds | 146 | — | 146 | — | ||||||||||||||||||||||||
Real estate limited partnerships | 104 | — | — | 104 | ||||||||||||||||||||||||
U.S. government securities | 917 | — | 916 | 1 | ||||||||||||||||||||||||
Guaranteed investment contracts | 32 | — | — | 32 | ||||||||||||||||||||||||
Governments bonds - foreign | 44 | — | 44 | — | ||||||||||||||||||||||||
Cash | 30 | 30 | — | — | ||||||||||||||||||||||||
Government and commercial mortgage backed securities | 9 | — | 9 | — | ||||||||||||||||||||||||
Net pending transactions and other investments | 10 | (10 | ) | 20 | — | |||||||||||||||||||||||
Total assets(a) | $ | 8,618 | $ | 1,816 | $ | 6,366 | $ | 436 | ||||||||||||||||||||
(a) | Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent, 31 percent, 15 percent, 16 percent, 5 percent and 8 percent, respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2014. Accordingly, all Level 1, 2 and 3 amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Equity securities | $ | 2,877 | $ | 1,801 | $ | 1,022 | $ | 54 | ||||||||||||||||||||
Corporate debt securities | 2,604 | — | 2,601 | 3 | ||||||||||||||||||||||||
Short-term investment funds | 1,158 | 254 | 904 | — | ||||||||||||||||||||||||
Partnership interests | 307 | — | — | 307 | ||||||||||||||||||||||||
Hedge funds | 164 | — | 111 | 53 | ||||||||||||||||||||||||
Real estate limited partnerships | 95 | — | — | 95 | ||||||||||||||||||||||||
U.S. government securities | 927 | — | 927 | — | ||||||||||||||||||||||||
Guarantees investment contracts | 33 | — | — | 33 | ||||||||||||||||||||||||
Governments bonds - foreign | 19 | — | 18 | 1 | ||||||||||||||||||||||||
Cash | 58 | 58 | — | — | ||||||||||||||||||||||||
Asset backed securities | 7 | — | 7 | — | ||||||||||||||||||||||||
Net pending transactions and other investments | 12 | 7 | 5 | — | ||||||||||||||||||||||||
Total assets(a) | $ | 8,261 | $ | 2,120 | $ | 5,595 | $ | 546 | ||||||||||||||||||||
(a) | Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana were allocated approximately 28 percent, 35 percent, 16 percent, 16 percent, 5 percent and 8 percent, respectively, of the Duke Energy Master Retirement Trust assets at December 31, 2013. Accordingly, all Level 1, 2 and 3 amounts included in the table above are allocable to the Subsidiary Registrants using these percentages. | |||||||||||||||||||||||||||
The following table includes the target asset allocations by asset class at December 31, 2014 and the actual asset allocations for the Duke Energy Master Retirement Trust. | ||||||||||||||||||||||||||||
Actual Allocation at December 31, | ||||||||||||||||||||||||||||
Target Allocation | 2014 | 2013 | ||||||||||||||||||||||||||
U.S. equity securities | 10 | % | 10 | % | 10 | % | ||||||||||||||||||||||
Non-U.S. equity securities | 8 | % | 8 | % | 8 | % | ||||||||||||||||||||||
Global equity securities | 10 | % | 10 | % | 10 | % | ||||||||||||||||||||||
Global private equity securities | 3 | % | 3 | % | 3 | % | ||||||||||||||||||||||
Debt securities | 63 | % | 63 | % | 63 | % | ||||||||||||||||||||||
Hedge funds | 2 | % | 3 | % | 3 | % | ||||||||||||||||||||||
Real estate and cash | 2 | % | 1 | % | 1 | % | ||||||||||||||||||||||
Other global securities | 2 | % | 2 | % | 2 | % | ||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||||
Master Trust Level 3 Rollforward | The following table provides a reconciliation of beginning and ending balances of assets of master trusts measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3). | |||||||||||||||||||||||||||
(in millions) | 2014 | 2013 | ||||||||||||||||||||||||||
Balance at January 1 | $ | 546 | $ | 352 | ||||||||||||||||||||||||
Combination of trust assets(a) | — | 288 | ||||||||||||||||||||||||||
Purchases, sales, issuances and settlements | ||||||||||||||||||||||||||||
Purchases | 17 | 25 | ||||||||||||||||||||||||||
Sales | (164 | ) | (152 | ) | ||||||||||||||||||||||||
Total gains (losses) and other, net | 37 | 33 | ||||||||||||||||||||||||||
Balance at December 31 | $ | 436 | $ | 546 | ||||||||||||||||||||||||
(a) | As of January 1, 2013, assets previously held in the Progress Energy Master Retirement Trust were transferred into the Duke Energy Master Retirement Trust. | |||||||||||||||||||||||||||
Voluntary Employee Beneficiary Association [Member] | ||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||
Fair Value and Allocation of Plan Assets | The following table presents target and actual asset allocations for VEBA I at December 31, 2014. | |||||||||||||||||||||||||||
Actual Allocation at December 31, | ||||||||||||||||||||||||||||
Target Allocation | 2014 | 2013 | ||||||||||||||||||||||||||
U.S. equity securities | 30 | % | 29 | % | 29 | % | ||||||||||||||||||||||
Debt securities | 45 | % | 28 | % | 29 | % | ||||||||||||||||||||||
Cash | 25 | % | 43 | % | 42 | % | ||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||||
The following tables provide the fair value measurement amounts for VEBA I other post-retirement assets. | ||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 21 | — | $ | 21 | — | ||||||||||||||||||||||
Equity securities | 14 | — | 14 | — | ||||||||||||||||||||||||
Debt securities | 13 | — | 13 | — | ||||||||||||||||||||||||
Total assets | $ | 48 | — | $ | 48 | — | ||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Total Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 21 | — | $ | 21 | — | ||||||||||||||||||||||
Equity securities | 15 | — | 15 | — | ||||||||||||||||||||||||
Debt securities | 15 | — | 15 | — | ||||||||||||||||||||||||
Total assets | $ | 51 | — | $ | 51 | — | ||||||||||||||||||||||
Qualified Pension Plans [Member] | ||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||
Components of Net Periodic Pension Costs | Components of Net Periodic Pension Costs | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 135 | $ | 41 | $ | 40 | $ | 21 | $ | 20 | $ | 4 | $ | 9 | ||||||||||||||
Interest cost on projected benefit obligation | 344 | 85 | 112 | 54 | 57 | 20 | 29 | |||||||||||||||||||||
Expected return on plan assets | (511 | ) | (132 | ) | (173 | ) | (85 | ) | (85 | ) | (27 | ) | (41 | ) | ||||||||||||||
Amortization of actuarial loss | 150 | 36 | 68 | 32 | 32 | 4 | 13 | |||||||||||||||||||||
Amortization of prior service credit | (15 | ) | (8 | ) | (3 | ) | (2 | ) | (1 | ) | — | — | ||||||||||||||||
Other | 8 | 2 | 3 | 1 | 1 | — | 1 | |||||||||||||||||||||
Net periodic pension costs | $ | 111 | $ | 24 | $ | 47 | $ | 21 | $ | 24 | $ | 1 | $ | 11 | ||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 167 | $ | 49 | $ | 60 | $ | 22 | $ | 30 | $ | 6 | $ | 11 | ||||||||||||||
Interest cost on projected benefit obligation | 320 | 80 | 116 | 50 | 53 | 21 | 28 | |||||||||||||||||||||
Expected return on plan assets | (549 | ) | (148 | ) | (199 | ) | (94 | ) | (87 | ) | (31 | ) | (46 | ) | ||||||||||||||
Amortization of actuarial loss | 244 | 60 | 101 | 46 | 49 | 13 | 24 | |||||||||||||||||||||
Amortization of prior service (credit) cost | (11 | ) | (6 | ) | (4 | ) | (1 | ) | (2 | ) | — | 1 | ||||||||||||||||
Other | 7 | 2 | 2 | 1 | 1 | — | 1 | |||||||||||||||||||||
Net periodic pension costs | $ | 178 | $ | 37 | $ | 76 | $ | 24 | $ | 44 | $ | 9 | $ | 19 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 122 | $ | 35 | $ | 63 | $ | 25 | $ | 30 | $ | 6 | $ | 9 | ||||||||||||||
Interest cost on projected benefit obligation | 307 | 90 | 127 | 58 | 56 | 31 | 30 | |||||||||||||||||||||
Expected return on plan assets | (472 | ) | (146 | ) | (188 | ) | (96 | ) | (81 | ) | (45 | ) | (46 | ) | ||||||||||||||
Amortization of actuarial loss | 144 | 45 | 93 | 37 | 48 | 10 | 15 | |||||||||||||||||||||
Amortization of prior service cost (credit) | 10 | 1 | 9 | 8 | (1 | ) | 1 | 1 | ||||||||||||||||||||
Other | 6 | 2 | 2 | 1 | 1 | — | — | |||||||||||||||||||||
Net periodic pension costs | $ | 117 | $ | 27 | $ | 106 | $ | 33 | $ | 53 | $ | 3 | $ | 9 | ||||||||||||||
Amounts Recognized in AOCI and Regulatory Assets and Liabilities | Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net increase (decrease) | $ | 112 | $ | 30 | $ | (73 | ) | $ | (17 | ) | $ | 11 | $ | 17 | $ | 4 | ||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax expense | $ | (10 | ) | — | (2 | ) | — | — | — | — | ||||||||||||||||||
Actuarial losses arising during the year | 29 | — | — | — | — | — | — | |||||||||||||||||||||
Prior year service credit arising during the year | — | — | — | — | — | — | — | |||||||||||||||||||||
Amortization of prior year actuarial losses | (9 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Reclassification of actuarial losses to regulatory assets | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | 9 | $ | — | $ | (2 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net decrease | $ | (788 | ) | $ | (205 | ) | $ | (253 | ) | $ | (109 | ) | $ | (146 | ) | $ | (96 | ) | $ | (99 | ) | |||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 18 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial gains arising during the year | (33 | ) | — | (2 | ) | — | — | — | — | |||||||||||||||||||
Prior year service credit arising during the year | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Amortization of prior year actuarial losses | (15 | ) | — | (3 | ) | — | — | — | — | |||||||||||||||||||
Reclassification of actuarial losses to regulatory assets | 3 | — | — | — | — | — | — | |||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | (28 | ) | $ | — | $ | (5 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Net Amount Recognized | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | $ | 7,510 | $ | 1,875 | $ | 2,739 | $ | 1,172 | $ | 1,233 | $ | 442 | $ | 632 | ||||||||||||||
Service cost | 135 | 41 | 40 | 21 | 20 | 4 | 9 | |||||||||||||||||||||
Interest cost | 344 | 85 | 112 | 54 | 57 | 20 | 29 | |||||||||||||||||||||
Actuarial loss(a) | 618 | 132 | 211 | 98 | 105 | 41 | 41 | |||||||||||||||||||||
Transfers | — | 37 | (375 | ) | (61 | ) | (9 | ) | (6 | ) | — | |||||||||||||||||
Plan amendments | (4 | ) | (1 | ) | — | — | — | (1 | ) | — | ||||||||||||||||||
Benefits paid | (496 | ) | (116 | ) | (170 | ) | (97 | ) | (71 | ) | (31 | ) | (38 | ) | ||||||||||||||
Obligation at measurement date | $ | 8,107 | $ | 2,053 | $ | 2,557 | $ | 1,187 | $ | 1,335 | $ | 469 | $ | 673 | ||||||||||||||
Accumulated Benefit Obligation at measurement date | $ | 7,966 | $ | 2,052 | $ | 2,519 | $ | 1,187 | $ | 1,297 | $ | 459 | $ | 645 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | $ | 8,142 | $ | 2,162 | $ | 2,944 | $ | 1,330 | $ | 1,299 | $ | 448 | $ | 654 | ||||||||||||||
Actual return on plan assets | 852 | 217 | 300 | 149 | 144 | 45 | 65 | |||||||||||||||||||||
Benefits paid | (496 | ) | (116 | ) | (170 | ) | (97 | ) | (71 | ) | (31 | ) | (38 | ) | ||||||||||||||
Transfers | — | 37 | (352 | ) | (61 | ) | (9 | ) | (6 | ) | — | |||||||||||||||||
Plan assets at measurement date | $ | 8,498 | $ | 2,300 | $ | 2,722 | $ | 1,321 | $ | 1,363 | $ | 456 | $ | 681 | ||||||||||||||
Funded status of plan | $ | 391 | $ | 247 | $ | 165 | $ | 134 | $ | 28 | $ | (13 | ) | $ | 8 | |||||||||||||
(a) | Includes an increase in benefit obligation of $180 million as a result of changes in Duke Energy's mortality assumptions. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | 8,030 | 2,028 | 2,868 | 1,264 | 1,309 | 527 | 684 | |||||||||||||||||||||
Service cost | 167 | 49 | 60 | 22 | 30 | 6 | 11 | |||||||||||||||||||||
Interest cost | 320 | 80 | 116 | 50 | 53 | 21 | 28 | |||||||||||||||||||||
Actuarial gains | (399 | ) | (73 | ) | (118 | ) | (26 | ) | (75 | ) | (71 | ) | (56 | ) | ||||||||||||||
Transfers | — | (26 | ) | (7 | ) | (45 | ) | (17 | ) | (2 | ) | (2 | ) | |||||||||||||||
Plan amendments | (41 | ) | (13 | ) | (19 | ) | (8 | ) | (7 | ) | — | — | ||||||||||||||||
Benefits paid | (567 | ) | (170 | ) | (161 | ) | (85 | ) | (60 | ) | (39 | ) | (33 | ) | ||||||||||||||
Obligation at measurement date | 7,510 | 1,875 | 2,739 | 1,172 | 1,233 | 442 | 632 | |||||||||||||||||||||
Accumulated Benefit Obligation at measurement date | 7,361 | 1,875 | 2,698 | 1,172 | 1,192 | 429 | 608 | |||||||||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | 7,754 | 2,151 | 2,647 | 1,289 | 1,150 | 446 | 627 | |||||||||||||||||||||
Actual return on plan assets | 705 | 207 | 215 | 108 | 93 | 43 | 62 | |||||||||||||||||||||
Benefits paid | (567 | ) | (170 | ) | (161 | ) | (85 | ) | (60 | ) | (39 | ) | (33 | ) | ||||||||||||||
Transfers | — | (26 | ) | (7 | ) | (45 | ) | (17 | ) | (2 | ) | (2 | ) | |||||||||||||||
Employer contributions | 250 | — | 250 | 63 | 133 | — | — | |||||||||||||||||||||
Plan assets at measurement date | $ | 8,142 | $ | 2,162 | $ | 2,944 | $ | 1,330 | $ | 1,299 | $ | 448 | $ | 654 | ||||||||||||||
Funded status of plan | $ | 632 | $ | 287 | $ | 205 | $ | 158 | $ | 66 | $ | 6 | $ | 22 | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Prefunded pension(a) | $ | 441 | $ | 247 | $ | 165 | $ | 134 | $ | 28 | $ | — | $ | 8 | ||||||||||||||
Non-current pension liability(b) | $ | 50 | $ | — | $ | — | $ | — | $ | — | $ | 13 | $ | — | ||||||||||||||
Net asset recognized | $ | 391 | $ | 247 | $ | 165 | $ | 134 | $ | 28 | $ | (13 | ) | $ | 8 | |||||||||||||
Regulatory assets | $ | 1,711 | $ | 407 | $ | 753 | $ | 346 | $ | 406 | $ | 65 | $ | 151 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | $ | (51 | ) | $ | — | $ | (11 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Prior service credit | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial loss | 140 | — | 21 | — | — | — | — | |||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive loss(c) | $ | 84 | $ | — | $ | 10 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Amounts to be recognized in net periodic pension expense in the next year | ||||||||||||||||||||||||||||
Unrecognized net actuarial loss | $ | 166 | $ | 39 | $ | 65 | $ | 34 | $ | 31 | $ | 6 | $ | 14 | ||||||||||||||
Unrecognized prior service credit | (15 | ) | (8 | ) | (3 | ) | (2 | ) | (1 | ) | — | — | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Prefunded pension(a) | $ | 632 | $ | 287 | $ | 230 | $ | 158 | $ | 66 | $ | 2 | $ | 75 | ||||||||||||||
Non-current pension liability(b) | $ | — | $ | — | $ | 25 | $ | — | $ | — | $ | (4 | ) | $ | 53 | |||||||||||||
Net asset recognized | $ | 632 | $ | 287 | $ | 205 | $ | 158 | $ | 66 | $ | 6 | $ | 22 | ||||||||||||||
Regulatory assets | $ | 1,599 | $ | 377 | $ | 826 | $ | 363 | $ | 395 | $ | 48 | $ | 147 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | $ | (41 | ) | $ | — | $ | (9 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Prior service credit | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial loss | 121 | — | 21 | — | — | — | — | |||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive loss(c) | $ | 75 | $ | — | $ | 12 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
(a) | Included in Other within Investments and Other Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(b) | Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(c) | Excludes accumulated other comprehensive income of $22 million and $16 million as of 2014 and 2013, respectively, net of tax, associated with a Brazilian retirement plan. | |||||||||||||||||||||||||||
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, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Ohio | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 702 | $ | 315 | ||||||||||||||||||||||||
Accumulated benefit obligation | 672 | 306 | ||||||||||||||||||||||||||
Fair value of plan assets | 652 | 302 | ||||||||||||||||||||||||||
Assumptions Used for Pension Benefits Accounting | The following tables present the assumptions or range of assumptions used for pension benefit accounting. | |||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012(a) | ||||||||||||||||||||||||||
Benefit Obligations | ||||||||||||||||||||||||||||
Discount rate | 4.10% | 4.70% | 4.10% | |||||||||||||||||||||||||
Salary increase | 4 | % | - | 4.40% | 4 | % | - | 4.40% | 4 | % | - | 4.30% | ||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Discount rate | 4.70% | 4.10% | 4.6 | % | - | 5.10% | ||||||||||||||||||||||
Salary increase | 4 | % | - | 4.40% | 4 | % | - | 4.30% | 4 | % | - | 4.40% | ||||||||||||||||
Expected long-term rate of return on plan assets | 6.75% | 7.75% | 8 | % | - | 8.25% | ||||||||||||||||||||||
(a) | For Progress Energy plans, the assumptions used in 2012 to determine net periodic pension costs reflect remeasurement as of July 1, 2012, due to the merger between Duke Energy and Progress Energy. | |||||||||||||||||||||||||||
Expected Benefit Payments | Expected Benefit Payments | |||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ending December 31, | ||||||||||||||||||||||||||||
2015 | $ | 584 | $ | 175 | $ | 150 | $ | 80 | $ | 67 | $ | 34 | $ | 45 | ||||||||||||||
2016 | 604 | 184 | 158 | 85 | 70 | 35 | 46 | |||||||||||||||||||||
2017 | 616 | 195 | 161 | 86 | 73 | 34 | 45 | |||||||||||||||||||||
2018 | 625 | 200 | 165 | 87 | 76 | 34 | 46 | |||||||||||||||||||||
2019 | 626 | 194 | 168 | 88 | 78 | 34 | 46 | |||||||||||||||||||||
2020 - 2024 | 3,107 | 924 | 868 | 437 | 420 | 168 | 229 | |||||||||||||||||||||
Non-Qualified Pension Plans [Member] | ||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||
Components of Net Periodic Pension Costs | Components of Net Periodic Pension Costs | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 3 | $ | — | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||||
Interest cost on projected benefit obligation | 14 | 1 | 5 | 1 | 2 | — | — | |||||||||||||||||||||
Amortization of actuarial loss | 3 | — | 2 | — | — | — | — | |||||||||||||||||||||
Amortization of prior service credit | (1 | ) | — | (1 | ) | — | — | — | — | |||||||||||||||||||
Net periodic pension costs | $ | 19 | $ | 1 | $ | 7 | $ | 2 | $ | 2 | $ | — | $ | — | ||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 3 | $ | — | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||||
Interest cost on projected benefit obligation | 13 | 1 | 7 | 1 | 1 | — | — | |||||||||||||||||||||
Amortization of actuarial loss | 5 | — | 3 | 1 | 1 | — | — | |||||||||||||||||||||
Amortization of prior service credit | (1 | ) | — | (1 | ) | — | — | — | — | |||||||||||||||||||
Net periodic pension costs | $ | 20 | $ | 1 | $ | 10 | $ | 3 | $ | 2 | $ | — | $ | — | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 2 | $ | — | $ | 2 | $ | 1 | $ | — | $ | — | $ | — | ||||||||||||||
Interest cost on projected benefit obligation | 12 | 1 | 8 | 1 | 2 | — | — | |||||||||||||||||||||
Amortization of actuarial loss | 4 | — | 5 | 1 | — | — | — | |||||||||||||||||||||
Amortization of prior service cost (credit) | 1 | — | (1 | ) | — | — | — | — | ||||||||||||||||||||
Net periodic pension costs | $ | 19 | $ | 1 | $ | 14 | $ | 3 | $ | 2 | $ | — | $ | — | ||||||||||||||
Amounts Recognized in AOCI and Regulatory Assets and Liabilities | Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net increase | $ | 44 | $ | 1 | $ | 14 | $ | 4 | $ | 19 | $ | 1 | $ | 2 | ||||||||||||||
Regulatory liabilities, net decrease | $ | (7 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 4 | $ | — | $ | 5 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial gains arising during the year | (9 | ) | — | (11 | ) | — | — | — | — | |||||||||||||||||||
Net amount recognized in accumulated other comprehensive loss (income) | $ | (5 | ) | $ | — | $ | (6 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net (decrease) increase | $ | (14 | ) | $ | 1 | $ | (16 | ) | $ | (4 | ) | $ | (3 | ) | $ | — | $ | (2 | ) | |||||||||
Regulatory liabilities, net increase | $ | 5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | — | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial losses (gains) arising during the year | 2 | — | (5 | ) | — | — | — | — | ||||||||||||||||||||
Prior year service credit arising during the year | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net amount recognized in accumulated other comprehensive loss (income) | $ | 1 | $ | — | $ | (4 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Net Amount Recognized | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Service cost | 3 | — | 1 | 1 | — | — | — | |||||||||||||||||||||
Interest cost | 14 | 1 | 5 | 1 | 2 | — | — | |||||||||||||||||||||
Actuarial losses(a) | 43 | 2 | 11 | 2 | 20 | 1 | 1 | |||||||||||||||||||||
Settlements | — | — | — | — | — | — | — | |||||||||||||||||||||
Plan amendments | — | — | — | — | — | — | — | |||||||||||||||||||||
Transfers | — | — | (32 | ) | — | 4 | — | — | ||||||||||||||||||||
Benefits paid | (27 | ) | (2 | ) | (9 | ) | (3 | ) | (4 | ) | — | (1 | ) | |||||||||||||||
Obligation at measurement date | $ | 337 | $ | 16 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Accumulated Benefit Obligation at measurement date | $ | 333 | $ | 15 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | — | — | — | — | — | — | — | |||||||||||||||||||||
Benefits paid | (27 | ) | (2 | ) | (9 | ) | (3 | ) | (4 | ) | — | (1 | ) | |||||||||||||||
Employer contributions | 27 | 2 | 9 | 3 | 4 | — | 1 | |||||||||||||||||||||
Plan assets at measurement date | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
(a) | Includes an increase in benefit obligation of $21 million as a result of changes in Duke Energy's mortality assumptions. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Obligation at prior measurement date | $ | 335 | $ | 16 | $ | 176 | $ | 38 | $ | 45 | $ | 4 | $ | 5 | ||||||||||||||
Service cost | 3 | — | 1 | 1 | — | — | — | |||||||||||||||||||||
Interest cost | 13 | 1 | 7 | 1 | 1 | — | — | |||||||||||||||||||||
Actuarial (gains) losses | (15 | ) | 1 | (11 | ) | (3 | ) | (3 | ) | (1 | ) | — | ||||||||||||||||
Settlements | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Plan amendments | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Transfers | — | — | (21 | ) | — | — | — | — | ||||||||||||||||||||
Benefits paid | (26 | ) | (3 | ) | (12 | ) | (3 | ) | (4 | ) | — | — | ||||||||||||||||
Obligation at measurement date | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Accumulated Benefit Obligation at measurement date | $ | 302 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | — | — | — | — | — | — | — | |||||||||||||||||||||
Benefits paid | (26 | ) | (3 | ) | (12 | ) | (3 | ) | (4 | ) | — | — | ||||||||||||||||
Employer contributions | 26 | 3 | 12 | 3 | 4 | — | — | |||||||||||||||||||||
Plan assets at measurement date | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current pension liability(a) | $ | 27 | $ | 2 | $ | 8 | $ | 3 | $ | 4 | $ | — | $ | — | ||||||||||||||
Non-current pension liability(b) | 310 | 14 | 108 | 32 | 57 | 4 | 5 | |||||||||||||||||||||
Total accrued pension liability | $ | 337 | $ | 16 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Regulatory assets | $ | 89 | $ | 5 | $ | 32 | $ | 7 | $ | 25 | $ | 1 | $ | 2 | ||||||||||||||
Regulatory liabilities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | 4 | — | $ | 2 | — | — | — | — | ||||||||||||||||||||
Prior service credit | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial gain | (8 | ) | — | (4 | ) | — | — | — | — | |||||||||||||||||||
Net amounts recognized in accumulated other comprehensive income | $ | (5 | ) | $ | — | $ | (2 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Amounts to be recognized in net periodic pension expense in the next year | ||||||||||||||||||||||||||||
Unrecognized net actuarial loss | $ | 6 | — | $ | 2 | $ | 1 | 2 | — | — | ||||||||||||||||||
Unrecognized prior service credit | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current pension liability(a) | $ | 30 | $ | 2 | $ | 11 | $ | 2 | $ | 3 | $ | — | $ | — | ||||||||||||||
Non-current pension liability(b) | 274 | 13 | 129 | 32 | 36 | 3 | 5 | |||||||||||||||||||||
Total accrued pension liability | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Regulatory assets | $ | 45 | $ | 4 | $ | 18 | $ | 3 | $ | 6 | $ | — | $ | — | ||||||||||||||
Regulatory liabilities | $ | 7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax asset | $ | — | $ | — | $ | (3 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Prior service credit | (1 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial loss | 1 | — | 7 | — | — | — | — | |||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive loss | $ | — | $ | — | $ | 4 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
(a) | Included in Other within Current Liabilities on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
(b) | Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets. | |||||||||||||||||||||||||||
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets | Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Projected benefit obligation | $ | 337 | $ | 16 | $ | 116 | $ | 35 | $ | 61 | $ | 4 | $ | 5 | ||||||||||||||
Accumulated benefit obligation | 333 | 15 | 116 | 35 | 61 | 4 | 5 | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Projected benefit obligation | $ | 304 | $ | 15 | $ | 140 | $ | 34 | $ | 39 | $ | 3 | $ | 5 | ||||||||||||||
Accumulated benefit obligation | 302 | 15 | 140 | 34 | 39 | 3 | 5 | |||||||||||||||||||||
Assumptions Used for Pension Benefits Accounting | The following tables present the assumptions used for pension benefit accounting. | |||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012(a) | ||||||||||||||||||||||||||
Benefit Obligations | ||||||||||||||||||||||||||||
Discount rate | 4.1 | % | 4.7 | % | 4.10% | |||||||||||||||||||||||
Salary increase | 4.4 | % | 4.4 | % | 4.30% | |||||||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Discount rate | 4.7 | % | 4.1 | % | 4.6 | % | - | 5.10% | ||||||||||||||||||||
Salary increase | 4.4 | % | 4.3 | % | 4.40% | |||||||||||||||||||||||
(a) | For Progress Energy plans, the assumptions used in 2012 to determine net periodic pension costs reflect remeasurement as of July 1, 2012, due to the merger between Duke Energy and Progress Energy. | |||||||||||||||||||||||||||
Expected Benefit Payments | Expected Benefit Payments | |||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ending December 31, | ||||||||||||||||||||||||||||
2015 | $ | 28 | $ | 2 | $ | 8 | $ | 3 | $ | 4 | $ | — | $ | — | ||||||||||||||
2016 | 27 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2017 | 27 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2018 | 24 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2019 | 24 | 2 | 8 | 3 | 4 | — | — | |||||||||||||||||||||
2020 - 2024 | 116 | 6 | 38 | 13 | 19 | 2 | 2 | |||||||||||||||||||||
Other Post-Retirement Benefit Plans [Member] | ||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||
Components of Net Periodic Pension Costs | Components of Net Periodic Other Post-Retirement Benefit Costs | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 10 | $ | 2 | $ | 4 | $ | 1 | $ | 3 | $ | — | $ | 1 | ||||||||||||||
Interest cost on accumulated post-retirement benefit obligation | 49 | 12 | 22 | 11 | 12 | 2 | 5 | |||||||||||||||||||||
Expected return on plan assets | (13 | ) | (9 | ) | — | — | — | — | (1 | ) | ||||||||||||||||||
Amortization of actuarial loss (gain) | 39 | 3 | 42 | 31 | 10 | (2 | ) | — | ||||||||||||||||||||
Amortization of prior service credit | (125 | ) | (11 | ) | (95 | ) | (73 | ) | (21 | ) | — | — | ||||||||||||||||
Net periodic post-retirement benefit costs | $ | (40 | ) | $ | (3 | ) | $ | (27 | ) | $ | (30 | ) | $ | 4 | $ | — | $ | 5 | ||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 24 | $ | 2 | $ | 18 | $ | 9 | $ | 7 | $ | 1 | $ | 1 | ||||||||||||||
Interest cost on accumulated post-retirement benefit obligation | 68 | 13 | 41 | 22 | 16 | 2 | 5 | |||||||||||||||||||||
Expected return on plan assets | (14 | ) | (11 | ) | — | — | — | (1 | ) | (1 | ) | |||||||||||||||||
Amortization of actuarial loss (gain) | 52 | 3 | 57 | 34 | 16 | (1 | ) | 1 | ||||||||||||||||||||
Amortization of prior service credit | (41 | ) | (7 | ) | (30 | ) | (20 | ) | (6 | ) | (1 | ) | — | |||||||||||||||
Net periodic post-retirement benefit costs | $ | 89 | $ | — | $ | 86 | $ | 45 | $ | 33 | $ | — | $ | 6 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Service cost | $ | 16 | $ | 2 | $ | 17 | $ | 8 | $ | 7 | $ | 1 | $ | 1 | ||||||||||||||
Interest cost on accumulated post-retirement benefit obligation | 56 | 15 | 43 | 23 | 18 | 3 | 6 | |||||||||||||||||||||
Expected return on plan assets | (17 | ) | (10 | ) | (2 | ) | — | (2 | ) | (1 | ) | (1 | ) | |||||||||||||||
Amortization of actuarial loss (gain) | 14 | 3 | 35 | 20 | 12 | (2 | ) | — | ||||||||||||||||||||
Amortization of prior service credit | (8 | ) | (5 | ) | — | — | — | (1 | ) | — | ||||||||||||||||||
Amortization of net transition liability | 10 | 7 | 4 | — | 3 | — | — | |||||||||||||||||||||
Special termination benefit cost | 9 | 1 | 5 | 2 | 1 | — | — | |||||||||||||||||||||
Net periodic post-retirement benefit costs | $ | 80 | $ | 13 | $ | 102 | $ | 53 | $ | 39 | $ | — | $ | 6 | ||||||||||||||
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, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net increase (decrease) | $ | 162 | $ | 34 | $ | 129 | $ | 97 | $ | (4 | ) | $ | — | $ | (7 | ) | ||||||||||||
Regulatory liabilities, net increase (decrease) | $ | 249 | $ | 76 | $ | 122 | $ | 61 | $ | 61 | $ | (2 | ) | $ | 14 | |||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial losses (gains) arising during the year | 1 | — | (2 | ) | — | — | — | — | ||||||||||||||||||||
Prior year service credit arising during the year | (6 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Amortization of prior year prior service credit | 2 | — | — | — | — | — | — | |||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | (2 | ) | $ | — | $ | (1 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Regulatory assets, net (decrease) increase | $ | (683 | ) | $ | (51 | ) | $ | (634 | ) | $ | (388 | ) | $ | (166 | ) | $ | — | $ | (6 | ) | ||||||||
Regulatory liabilities, net increase (decrease) | $ | 30 | $ | — | $ | — | $ | — | $ | — | $ | 3 | $ | 9 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax benefit | $ | 2 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Actuarial gains arising during the year | (4 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Prior year service credit arising during the year | (3 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Amortization of prior year actuarial loss | 1 | — | — | — | — | — | — | |||||||||||||||||||||
Net amount recognized in accumulated other comprehensive income | $ | (4 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Reconciliation of Funded Status to Net Amount Recognized | Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Accumulated post-retirement benefit obligation at prior measurement date | $ | 1,106 | $ | 265 | $ | 533 | $ | 233 | $ | 253 | $ | 42 | $ | 118 | ||||||||||||||
Service cost | 10 | 2 | 4 | 1 | 3 | — | 1 | |||||||||||||||||||||
Interest cost | 49 | 12 | 22 | 11 | 12 | 2 | 5 | |||||||||||||||||||||
Plan participants' contributions | 25 | 10 | 8 | 4 | 4 | — | 2 | |||||||||||||||||||||
Actuarial gains(a) | (87 | ) | (35 | ) | (19 | ) | (21 | ) | — | — | (20 | ) | ||||||||||||||||
Transfers | — | 1 | (48 | ) | (2 | ) | — | (1 | ) | — | ||||||||||||||||||
Plan amendments | (85 | ) | (4 | ) | (77 | ) | — | (78 | ) | (1 | ) | — | ||||||||||||||||
Benefits paid | (103 | ) | (31 | ) | (44 | ) | (19 | ) | (24 | ) | (3 | ) | (10 | ) | ||||||||||||||
Accrued retiree drug subsidy | 1 | — | — | — | — | — | — | |||||||||||||||||||||
Accumulated post-retirement benefit obligation at measurement date | $ | 916 | $ | 220 | $ | 379 | $ | 207 | $ | 170 | $ | 39 | $ | 96 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | $ | 214 | $ | 143 | — | — | — | $ | 8 | $ | 18 | |||||||||||||||||
Actual return on plan assets | 18 | 12 | — | — | — | — | 2 | |||||||||||||||||||||
Benefits paid | (103 | ) | (31 | ) | (44 | ) | (19 | ) | (24 | ) | (3 | ) | (10 | ) | ||||||||||||||
Transfers | — | (1 | ) | — | — | — | — | — | ||||||||||||||||||||
Employer contributions | 73 | 12 | 36 | 14 | 20 | 3 | 11 | |||||||||||||||||||||
Plan participants' contributions | 25 | 10 | 8 | 4 | 4 | — | 2 | |||||||||||||||||||||
Plan assets at measurement date | $ | 227 | $ | 145 | $ | — | $ | (1 | ) | $ | — | $ | 8 | $ | 23 | |||||||||||||
(a) | Includes an increase in benefit obligation of $7 million as a result of changes in Duke Energy's mortality assumptions. | |||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||||
Accumulated post-retirement benefit obligation at prior measurement date | $ | 1,794 | $ | 316 | $ | 1,128 | $ | 612 | $ | 413 | $ | 48 | $ | 136 | ||||||||||||||
Service cost | 24 | 2 | 18 | 9 | 7 | 1 | 1 | |||||||||||||||||||||
Interest cost | 68 | 13 | 41 | 22 | 16 | 2 | 5 | |||||||||||||||||||||
Plan participants' contributions | 47 | 15 | 14 | 6 | 7 | 3 | 3 | |||||||||||||||||||||
Actuarial gains | (227 | ) | (32 | ) | (156 | ) | (73 | ) | (70 | ) | (6 | ) | (12 | ) | ||||||||||||||
Transfers | — | — | (1 | ) | (8 | ) | — | — | — | |||||||||||||||||||
Plan amendments | (476 | ) | (16 | ) | (455 | ) | (311 | ) | (91 | ) | — | (3 | ) | |||||||||||||||
Benefits paid | (132 | ) | (36 | ) | (60 | ) | (26 | ) | (31 | ) | (6 | ) | (14 | ) | ||||||||||||||
Accrued retiree drug subsidy | 8 | 3 | 4 | 2 | 2 | — | 2 | |||||||||||||||||||||
Accumulated post-retirement benefit obligation at measurement date | $ | 1,106 | $ | 265 | $ | 533 | $ | 233 | $ | 253 | $ | 42 | $ | 118 | ||||||||||||||
Change in Fair Value of Plan Assets | ||||||||||||||||||||||||||||
Plan assets at prior measurement date | $ | 198 | $ | 134 | $ | — | $ | — | $ | — | $ | 7 | $ | 17 | ||||||||||||||
Actual return on plan assets | 18 | 13 | — | — | — | 2 | 2 | |||||||||||||||||||||
Benefits paid | (132 | ) | (36 | ) | (60 | ) | (26 | ) | (31 | ) | (6 | ) | (14 | ) | ||||||||||||||
Transfers | — | (1 | ) | — | — | — | — | — | ||||||||||||||||||||
Employer contributions | 83 | 18 | 46 | 20 | 24 | 2 | 10 | |||||||||||||||||||||
Plan participants' contributions | 47 | 15 | 14 | 6 | 7 | 3 | 3 | |||||||||||||||||||||
Plan assets at measurement date | $ | 214 | $ | 143 | $ | — | $ | — | $ | — | $ | 8 | $ | 18 | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheet | Amounts Recognized in the Consolidated Balance Sheets | |||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current post-retirement liability(a) | $ | 35 | $ | — | $ | 29 | $ | 16 | $ | 14 | $ | 2 | $ | — | ||||||||||||||
Non-current post-retirement liability(b) | 654 | 75 | 350 | 192 | 156 | 29 | 73 | |||||||||||||||||||||
Total accrued post-retirement liability | $ | 689 | $ | 75 | $ | 379 | $ | 208 | $ | 170 | $ | 31 | $ | 73 | ||||||||||||||
Regulatory assets | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 64 | ||||||||||||||
Regulatory liabilities | $ | 380 | $ | 76 | $ | 122 | $ | 61 | $ | 61 | $ | 19 | $ | 91 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax liability | $ | 5 | $ | — | $ | 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Prior service credit | (9 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial gain | (5 | ) | — | (2 | ) | — | — | — | — | |||||||||||||||||||
Net amounts recognized in accumulated other comprehensive income | $ | (9 | ) | $ | — | $ | (1 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Amounts to be recognized in net periodic pension expense in the next year | ||||||||||||||||||||||||||||
Unrecognized net actuarial loss (gain) | $ | 16 | $ | (1 | ) | $ | 28 | $ | 18 | $ | 10 | $ | (2 | ) | $ | — | ||||||||||||
Unrecognized prior service credit | (140 | ) | (14 | ) | (103 | ) | (68 | ) | (35 | ) | — | — | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Current post-retirement liability(a) | $ | 39 | $ | — | $ | 36 | $ | 17 | $ | 16 | $ | 2 | $ | — | ||||||||||||||
Non-current post-retirement liability(b) | 853 | 122 | 497 | 216 | 237 | 32 | 100 | |||||||||||||||||||||
Total accrued post-retirement liability | $ | 892 | $ | 122 | $ | 533 | $ | 233 | $ | 253 | $ | 34 | $ | 100 | ||||||||||||||
Regulatory assets | $ | (162 | ) | $ | (34 | ) | $ | (129 | ) | $ | (97 | ) | $ | 4 | $ | — | $ | 71 | ||||||||||
Regulatory liabilities | $ | 131 | $ | — | $ | — | $ | — | $ | — | $ | 21 | $ | 77 | ||||||||||||||
Accumulated other comprehensive (income) loss | ||||||||||||||||||||||||||||
Deferred income tax liability | $ | 4 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Prior service credit | (5 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net actuarial gain | (6 | ) | — | — | — | — | — | — | ||||||||||||||||||||
Net amounts recognized in accumulated other comprehensive income | $ | (7 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
(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, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012(a) | ||||||||||||||||||||||||||
Benefit Obligations | ||||||||||||||||||||||||||||
Discount rate | 4.1 | % | 4.7 | % | 4.1 | % | ||||||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Discount rate | 4.7 | % | 4.1 | % | 4.6 | % | - | 5.1 | % | |||||||||||||||||||
Expected long-term rate of return on plan assets | 6.75 | % | 7.75 | % | 5 | % | - | 8 | % | |||||||||||||||||||
Assumed tax rate | 35 | % | 35 | % | 35 | % | ||||||||||||||||||||||
(a) | For Progress Energy plans, the assumptions used in 2012 to determine net periodic post-retirement benefit costs reflect remeasurement as of July 1, 2012, due to the merger between Duke Energy and Progress Energy. | |||||||||||||||||||||||||||
Assumed Health Care Cost Trend Rate | Assumed Health Care Cost Trend Rate | |||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 6.75 | % | 8.5 | % | ||||||||||||||||||||||||
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 4.75 | % | 5 | % | ||||||||||||||||||||||||
Year that rate reaches ultimate trend | 2023 | 2021 | ||||||||||||||||||||||||||
Sensitivity to Changes in Assumed Health Care Cost Trend Rates | Sensitivity to Changes in Assumed Health Care Cost Trend Rates | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
1-Percentage Point Increase | ||||||||||||||||||||||||||||
Effect on total service and interest costs | $ | 2 | $ | 1 | $ | 1 | $ | — | $ | 1 | $ | — | $ | — | ||||||||||||||
Effect on post-retirement benefit obligation | 36 | 9 | 15 | 8 | 7 | 2 | 4 | |||||||||||||||||||||
1-Percentage Point Decrease | ||||||||||||||||||||||||||||
Effect on total service and interest costs | (2 | ) | (1 | ) | (1 | ) | — | (1 | ) | — | — | |||||||||||||||||
Effect on post-retirement benefit obligation | (31 | ) | (8 | ) | (13 | ) | (7 | ) | (6 | ) | (1 | ) | (3 | ) | ||||||||||||||
Expected Benefit Payments | Expected Benefit Payments | |||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Years ending December 31, | ||||||||||||||||||||||||||||
2015 | $ | 77 | $ | 17 | $ | 30 | $ | 16 | $ | 14 | $ | 4 | $ | 10 | ||||||||||||||
2016 | 77 | 18 | 30 | 16 | 14 | 4 | 10 | |||||||||||||||||||||
2017 | 76 | 18 | 29 | 15 | 14 | 3 | 9 | |||||||||||||||||||||
2018 | 74 | 19 | 29 | 15 | 14 | 3 | 9 | |||||||||||||||||||||
2019 | 73 | 19 | 29 | 15 | 13 | 3 | 8 | |||||||||||||||||||||
2020 - 2024 | 332 | 84 | 132 | 70 | 61 | 15 | 35 | |||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Income Tax Disclosure [Line Items] | ||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | Components of Income Tax Expense | |||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Current income taxes | ||||||||||||||||||||||
Federal | $ | — | $ | 161 | $ | (466 | ) | $ | (184 | ) | $ | (53 | ) | $ | (73 | ) | $ | (112 | ) | |||
State | 56 | 51 | (8 | ) | 14 | 1 | 3 | 1 | ||||||||||||||
Foreign | 144 | — | — | — | — | — | — | |||||||||||||||
Total current income taxes | 200 | 212 | (474 | ) | (170 | ) | (52 | ) | (70 | ) | (111 | ) | ||||||||||
Deferred income taxes | ||||||||||||||||||||||
Federal | 1,517 | 407 | 938 | 436 | 350 | 113 | 294 | |||||||||||||||
State | 35 | (25 | ) | 84 | 25 | 52 | 1 | 15 | ||||||||||||||
Foreign | (67 | ) | — | — | — | — | — | — | ||||||||||||||
Total deferred income taxes(a)(b) | 1,485 | 382 | 1,022 | 461 | 402 | 114 | 309 | |||||||||||||||
Investment tax credit amortization | (16 | ) | (6 | ) | (8 | ) | (6 | ) | (1 | ) | (1 | ) | (1 | ) | ||||||||
Income tax expense from continuing operations | 1,669 | 588 | 540 | 285 | 349 | 43 | 197 | |||||||||||||||
Tax benefit from discontinued operations | (295 | ) | — | (4 | ) | — | — | (300 | ) | — | ||||||||||||
Total income tax expense included in Consolidated Statements of Operations | $ | 1,374 | $ | 588 | $ | 536 | $ | 285 | $ | 349 | $ | (257 | ) | $ | 197 | |||||||
(a) | There were no benefits of net operating loss (NOL) carryforwards. | |||||||||||||||||||||
(b) | Includes utilization of NOL and tax credit carryforwards of $1,544 million at Duke Energy, $345 million at Duke Energy Carolinas, $530 million at Progress Energy, $291 million at Duke Energy Progress, $64 million at Duke Energy Florida, $56 million at Duke Energy Ohio and $141 million at Duke Energy Indiana. | |||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Current income taxes | ||||||||||||||||||||||
Federal | $ | (141 | ) | $ | 49 | $ | (221 | ) | $ | (70 | ) | $ | (143 | ) | $ | (24 | ) | $ | (88 | ) | ||
State | (40 | ) | 11 | (37 | ) | (10 | ) | (13 | ) | (4 | ) | 7 | ||||||||||
Foreign | 151 | — | — | — | — | — | — | |||||||||||||||
Total current income taxes | (30 | ) | 60 | (258 | ) | (80 | ) | (156 | ) | (28 | ) | (81 | ) | |||||||||
Deferred income taxes | ||||||||||||||||||||||
Federal | 1,092 | 464 | 555 | 316 | 326 | 65 | 276 | |||||||||||||||
State | 144 | 75 | 84 | 59 | 44 | 6 | 29 | |||||||||||||||
Foreign | 14 | — | — | — | — | — | — | |||||||||||||||
Total deferred income taxes(a) | 1,250 | 539 | 639 | 375 | 370 | 71 | 305 | |||||||||||||||
Investment tax credit amortization | (15 | ) | (5 | ) | (8 | ) | (7 | ) | (1 | ) | — | (1 | ) | |||||||||
Income tax expense from continuing operations | 1,205 | 594 | 373 | 288 | 213 | 43 | 223 | |||||||||||||||
Tax expense from discontinued operations | 29 | — | (26 | ) | — | — | 32 | — | ||||||||||||||
Total income tax expense included in Consolidated Statements of Operations | $ | 1,234 | $ | 594 | $ | 347 | $ | 288 | $ | 213 | $ | 75 | $ | 223 | ||||||||
(a) | Includes benefits of NOL carryforwards of $808 million at Duke Energy, $458 million at Progress Energy, $64 million at Duke Energy Progress, $301 million at Duke Energy Florida and $179 million at Duke Energy Indiana. | |||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Current income taxes | ||||||||||||||||||||||
Federal | $ | (108 | ) | $ | (1 | ) | $ | (88 | ) | $ | (48 | ) | $ | 6 | $ | (8 | ) | $ | (27 | ) | ||
State | 29 | (25 | ) | 2 | (6 | ) | — | 5 | 27 | |||||||||||||
Foreign | 133 | — | — | — | — | — | — | |||||||||||||||
Total current income taxes | 54 | (26 | ) | (86 | ) | (54 | ) | 6 | (3 | ) | — | |||||||||||
Deferred income taxes | ||||||||||||||||||||||
Federal | 491 | 408 | 226 | 162 | 121 | 40 | (47 | ) | ||||||||||||||
State | 71 | 77 | 40 | 9 | 21 | (2 | ) | (25 | ) | |||||||||||||
Foreign | 20 | — | — | — | — | — | — | |||||||||||||||
Total deferred income taxes(a) | 582 | 485 | 266 | 171 | 142 | 38 | (72 | ) | ||||||||||||||
Investment tax credit amortization | (13 | ) | (6 | ) | (8 | ) | (7 | ) | (1 | ) | (2 | ) | (1 | ) | ||||||||
Income tax expense (benefit) from continuing operations | 623 | 453 | 172 | 110 | 147 | 33 | (73 | ) | ||||||||||||||
Tax benefit from discontinued operations | 107 | — | 29 | — | — | 65 | — | |||||||||||||||
Total income tax expense (benefit) included in Consolidated Statements of Operations | $ | 730 | $ | 453 | $ | 201 | $ | 110 | $ | 147 | $ | 98 | $ | (73 | ) | |||||||
(a) | Includes benefits of NOL carryforwards of $1,062 million at Duke Energy, $245 million at Duke Energy Carolinas, $357 million at Progress Energy, $257 million at Duke Energy Progress, $25 million at Duke Energy Florida, $34 million at Duke Energy Ohio and $205 million at Duke Energy Indiana. | |||||||||||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign | Duke Energy Income from Continuing Operations before Income Taxes | |||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | |||||||||||||||||||
Domestic | $ | 3,600 | $ | 3,183 | $ | 1,600 | ||||||||||||||||
Foreign | 534 | 612 | 634 | |||||||||||||||||||
Income from continuing operations before income taxes | $ | 4,134 | $ | 3,795 | $ | 2,234 | ||||||||||||||||
Summary of Effective Tax Rates | 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, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Income tax expense, computed at the statutory rate of 35 percent | $ | 1,447 | $ | 581 | $ | 497 | $ | 263 | $ | 314 | $ | 39 | $ | 195 | ||||||||
State income tax, net of federal income tax effect | 59 | 17 | 49 | 25 | 34 | 3 | 10 | |||||||||||||||
Tax differential on foreign earnings(a) | (110 | ) | — | — | — | — | — | — | ||||||||||||||
AFUDC equity income | (47 | ) | (32 | ) | (9 | ) | (9 | ) | — | (1 | ) | (5 | ) | |||||||||
Renewable energy production tax credits | (67 | ) | — | — | — | — | — | — | ||||||||||||||
International tax dividend | 373 | — | — | — | — | — | — | |||||||||||||||
Other items, net | 14 | 22 | 3 | 6 | 1 | 2 | (3 | ) | ||||||||||||||
Income tax expense from continuing operations | $ | 1,669 | $ | 588 | $ | 540 | $ | 285 | $ | 349 | $ | 43 | $ | 197 | ||||||||
Effective tax rate | 40.4 | % | 35.4 | % | 38 | % | 37.9 | % | 38.9 | % | 38.9 | % | 35.5 | % | ||||||||
(a) | Includes a $57 million benefit as a result of the merger of two Chilean subsidiaries and a change in income tax rates in various countries primarily relating to Peru. | |||||||||||||||||||||
During the fourth quarter of 2014, Duke Energy declared a taxable dividend of foreign earnings in the form of notes payable that will result in the repatriation of approximately $2.7 billion of cash held and expected to be generated by International Energy over a period of up to 8 years. As a result of the decision to repatriate all cumulative historical undistributed foreign earnings, during the fourth quarter of 2014, Duke Energy recorded U.S. income tax expense of approximately $373 million. Duke Energy’s intention is to indefinitely reinvest prospective undistributed earnings generated by Duke Energy's foreign subsidiaries, and accordingly U.S. deferred taxes will not be provided for those earnings. | ||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Income tax expense, computed at the statutory rate of 35 percent | $ | 1,328 | $ | 549 | $ | 361 | $ | 276 | $ | 188 | $ | 39 | $ | 203 | ||||||||
State income tax, net of federal income tax effect | 66 | 56 | 31 | 31 | 20 | 2 | 23 | |||||||||||||||
Tax differential on foreign earnings | (49 | ) | — | — | — | — | — | — | ||||||||||||||
AFUDC equity income | (55 | ) | (32 | ) | (18 | ) | (15 | ) | (3 | ) | — | (5 | ) | |||||||||
Renewable energy production tax credits | (62 | ) | — | — | — | — | — | — | ||||||||||||||
Other items, net | (23 | ) | 21 | (1 | ) | (4 | ) | 8 | 2 | 2 | ||||||||||||
Income tax expense (benefit) from continuing operations | $ | 1,205 | $ | 594 | $ | 373 | $ | 288 | $ | 213 | $ | 43 | $ | 223 | ||||||||
Effective tax rate | 31.8 | % | 37.8 | % | 36.2 | % | 36.5 | % | 39.6 | % | 39.1 | % | 38.4 | % | ||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Income tax expense, computed at the statutory rate of 35 percent | $ | 782 | $ | 461 | $ | 185 | $ | 134 | $ | 145 | $ | 27 | $ | (43 | ) | |||||||
State income tax, net of federal income tax effect | 65 | 34 | 33 | 1 | 14 | 2 | 1 | |||||||||||||||
Tax differential on foreign earnings | (69 | ) | — | — | — | — | — | — | ||||||||||||||
AFUDC equity income | (101 | ) | (54 | ) | (37 | ) | (24 | ) | (13 | ) | (2 | ) | (26 | ) | ||||||||
Renewable energy production tax credits | (25 | ) | — | — | — | — | — | — | ||||||||||||||
Other items, net | (29 | ) | 12 | (9 | ) | (1 | ) | 1 | 6 | (5 | ) | |||||||||||
Income tax expense from continuing operations | $ | 623 | $ | 453 | $ | 172 | $ | 110 | $ | 147 | $ | 33 | $ | (73 | ) | |||||||
Effective tax rate | 27.9 | % | 34.3 | % | 32.7 | % | 28.7 | % | 35.7 | % | 42.9 | % | 59.5 | % | ||||||||
Schedule of Deferred Tax Assets and Liabilities | DEFERRED TAXES | |||||||||||||||||||||
Net Deferred Income Tax Liability Components | ||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Deferred credits and other liabilities | $ | 188 | $ | 53 | $ | 108 | $ | 28 | $ | 78 | $ | (8 | ) | $ | 12 | |||||||
Capital lease obligations | 63 | 10 | — | — | — | — | 2 | |||||||||||||||
Pension, postretirement and other employee benefits | 546 | 4 | 188 | 96 | 93 | 17 | 43 | |||||||||||||||
Progress Energy merger purchase accounting adjustments(a) | 1,124 | — | — | — | — | — | — | |||||||||||||||
Tax credits and NOL carryforwards | 3,540 | 157 | 980 | 91 | 252 | 38 | 260 | |||||||||||||||
Investments and other assets | — | — | — | — | — | 14 | — | |||||||||||||||
Other | — | 12 | — | 55 | — | 35 | 11 | |||||||||||||||
Valuation allowance | (184 | ) | — | (13 | ) | (1 | ) | — | — | — | ||||||||||||
Total deferred income tax assets | 5,277 | 236 | 1,263 | 269 | 423 | 96 | 328 | |||||||||||||||
Investments and other assets | (1,625 | ) | (1,051 | ) | (427 | ) | (232 | ) | (245 | ) | — | (4 | ) | |||||||||
Accelerated depreciation rates | (11,715 | ) | (4,046 | ) | (3,284 | ) | (2,030 | ) | (1,252 | ) | (1,660 | ) | (1,603 | ) | ||||||||
Regulatory assets and deferred debits | (3,694 | ) | (953 | ) | (1,602 | ) | (809 | ) | (792 | ) | (141 | ) | (106 | ) | ||||||||
Other | (44 | ) | — | (151 | ) | — | (246 | ) | — | — | ||||||||||||
Total deferred income tax liabilities | (17,078 | ) | (6,050 | ) | (5,464 | ) | (3,071 | ) | (2,535 | ) | (1,801 | ) | (1,713 | ) | ||||||||
Net deferred income tax liabilities | $ | (11,801 | ) | $ | (5,814 | ) | $ | (4,201 | ) | $ | (2,802 | ) | $ | (2,112 | ) | $ | (1,705 | ) | $ | (1,385 | ) | |
(a) | Primarily related to capital lease obligations and debt fair value adjustments. | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy | Energy | Energy | Energy | ||||||||||||||||||
Carolinas | Progress | Florida | Ohio | Indiana | ||||||||||||||||||
Deferred credits and other liabilities | $ | 245 | $ | 56 | $ | 136 | $ | 9 | $ | 96 | $ | (13 | ) | $ | 9 | |||||||
Capital lease obligations | 59 | 11 | — | — | — | — | (2 | ) | ||||||||||||||
Pension, postretirement and other employee benefits | 649 | 18 | 341 | 119 | 145 | 23 | 54 | |||||||||||||||
Progress Energy merger purchase accounting adjustments(a) | 1,184 | — | — | — | — | — | — | |||||||||||||||
Tax credits and NOL carryforwards | 4,307 | 488 | 1,965 | 396 | 365 | 165 | 521 | |||||||||||||||
Other | 265 | 15 | 116 | 39 | 43 | 20 | 14 | |||||||||||||||
Valuation allowance | (192 | ) | — | (40 | ) | (1 | ) | — | — | — | ||||||||||||
Total deferred income tax assets | 6,517 | 588 | 2,518 | 562 | 649 | 195 | 596 | |||||||||||||||
Investments and other assets | (1,396 | ) | (999 | ) | (209 | ) | (160 | ) | (49 | ) | (17 | ) | (7 | ) | ||||||||
Accelerated depreciation rates | (12,615 | ) | (4,400 | ) | (3,663 | ) | (2,528 | ) | (1,160 | ) | (1,937 | ) | (1,591 | ) | ||||||||
Regulatory assets and deferred debits | (3,185 | ) | (609 | ) | (1,389 | ) | (202 | ) | (1,159 | ) | (168 | ) | (117 | ) | ||||||||
Total deferred income tax liabilities | (17,196 | ) | (6,008 | ) | (5,261 | ) | (2,890 | ) | (2,368 | ) | (2,122 | ) | (1,715 | ) | ||||||||
Net deferred income tax liabilities | $ | (10,679 | ) | $ | (5,420 | ) | $ | (2,743 | ) | $ | (2,328 | ) | $ | (1,719 | ) | $ | (1,927 | ) | $ | (1,119 | ) | |
(a) | Primarily related to capital lease obligations and debt fair value adjustments. | |||||||||||||||||||||
Summary of Tax Credit Carryforwards | The following table presents the expiration of tax credits and NOL carryforwards. | |||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Amount | Expiration Year | ||||||||||||||||||||
Investment tax credits | $ | 581 | 2029 | — | 2034 | |||||||||||||||||
Alternative minimum tax credits | 1,093 | Indefinite | ||||||||||||||||||||
Federal NOL carryforwards | 749 | 2030 | — | 2033 | ||||||||||||||||||
State NOL carryforwards and credits(a) | 162 | 2015 | — | 2034 | ||||||||||||||||||
Foreign NOL carryforwards(b) | 117 | 2015 | — | 2033 | ||||||||||||||||||
Foreign Tax Credits | 838 | 2024 | ||||||||||||||||||||
Total tax credits and NOL carryforwards | $ | 3,540 | ||||||||||||||||||||
(a) | A valuation allowance of $79 million has been recorded on the state Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. | |||||||||||||||||||||
(b) | A valuation allowance of $105 million has been recorded on the foreign Net Operating Loss carryforwards, as presented in the Net Deferred Income Tax Liability Components table. | |||||||||||||||||||||
Schedule of Balance Sheet Classification of Deferred Tax Assets and Liabilities | Classification of Deferred Tax Assets (Liabilities) in the Consolidated Balance Sheets | |||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Current Assets: Other | $ | 1,593 | $ | 3 | $ | 558 | $ | 106 | $ | 340 | $ | 60 | $ | 206 | ||||||||
Investments and Other Assets: Other | 29 | — | — | — | — | — | — | |||||||||||||||
Current Liabilities: Other | — | (5 | ) | — | — | — | — | — | ||||||||||||||
Deferred Credits and Other Liabilities: Other | (13,423 | ) | (5,812 | ) | (4,759 | ) | (2,908 | ) | (2,452 | ) | (1,765 | ) | (1,591 | ) | ||||||||
Net deferred income tax liabilities | $ | (11,801 | ) | $ | (5,814 | ) | $ | (4,201 | ) | $ | (2,802 | ) | $ | (2,112 | ) | $ | (1,705 | ) | $ | (1,385 | ) | |
December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Current Assets: Other | $ | 1,373 | $ | 286 | $ | 540 | $ | 229 | $ | 110 | $ | 85 | $ | 52 | ||||||||
Investments and Other Assets: Other | 45 | — | — | — | — | — | — | |||||||||||||||
Deferred Credits and Other Liabilities: Other | (12,097 | ) | (5,706 | ) | (3,283 | ) | (2,557 | ) | (1,829 | ) | (2,012 | ) | (1,171 | ) | ||||||||
Net deferred income tax liabilities | $ | (10,679 | ) | $ | (5,420 | ) | $ | (2,743 | ) | $ | (2,328 | ) | $ | (1,719 | ) | $ | (1,927 | ) | $ | (1,119 | ) | |
Schedule of Unrecognized Tax Benefits Roll Forward | The following tables present changes to unrecognized tax benefits. | |||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | ||||||||||||||||
Energy | Energy | Energy | Energy | |||||||||||||||||||
Carolinas | Progress | Florida | Indiana | |||||||||||||||||||
Unrecognized tax benefits — January 1 | $ | 230 | $ | 171 | $ | 32 | $ | 22 | $ | 8 | $ | 1 | ||||||||||
Unrecognized tax benefits increases (decreases) | ||||||||||||||||||||||
Gross increases — tax positions in prior periods | — | — | 1 | 1 | — | — | ||||||||||||||||
Gross decreases — tax positions in prior periods | (2 | ) | — | — | — | — | — | |||||||||||||||
Decreases due to settlements | (15 | ) | (11 | ) | (1 | ) | — | — | — | |||||||||||||
Total changes | (17 | ) | (11 | ) | — | 1 | — | — | ||||||||||||||
Unrecognized tax benefits — December 31 | $ | 213 | $ | 160 | $ | 32 | $ | 23 | $ | 8 | $ | 1 | ||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Unrecognized tax benefits — January 1 | $ | 540 | $ | 271 | $ | 131 | $ | 67 | $ | 44 | $ | 36 | $ | 32 | ||||||||
Unrecognized tax benefits (decreases) increases | ||||||||||||||||||||||
Gross decreases — tax positions in prior periods | (231 | ) | (100 | ) | (86 | ) | (45 | ) | (37 | ) | (36 | ) | (31 | ) | ||||||||
Decreases due to settlements | (66 | ) | — | — | — | — | — | — | ||||||||||||||
Reduction due to lapse of statute of limitations | (13 | ) | — | (13 | ) | — | 1 | — | — | |||||||||||||
Total changes | (310 | ) | (100 | ) | (99 | ) | (45 | ) | (36 | ) | (36 | ) | (31 | ) | ||||||||
Unrecognized tax benefits — December 31 | $ | 230 | $ | 171 | $ | 32 | $ | 22 | $ | 8 | $ | — | $ | 1 | ||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke | Progress Energy | Duke | Duke | Duke | Duke | |||||||||||||||
Energy | Energy Progress | Energy Florida | Energy | Energy | ||||||||||||||||||
Carolinas | Ohio | Indiana | ||||||||||||||||||||
Unrecognized tax benefits — January 1 | $ | 385 | $ | 260 | $ | 173 | $ | 73 | $ | 80 | $ | 32 | $ | 24 | ||||||||
Acquisitions | 128 | — | — | — | — | — | — | |||||||||||||||
Unrecognized tax benefits increases (decreases) | ||||||||||||||||||||||
Gross increases — tax positions in prior periods | 29 | 12 | 23 | 10 | 12 | 2 | 6 | |||||||||||||||
Gross decreases — tax positions in prior periods | (4 | ) | — | (72 | ) | (19 | ) | (52 | ) | — | — | |||||||||||
Gross increases — current period tax positions | 28 | 15 | 8 | 4 | 4 | 4 | 4 | |||||||||||||||
Gross decreases — current period tax positions | (9 | ) | (5 | ) | (1 | ) | (1 | ) | — | (2 | ) | (2 | ) | |||||||||
Decreases due to settlements | (13 | ) | (11 | ) | — | — | — | — | — | |||||||||||||
Reduction due to lapse of statute of limitations | (4 | ) | — | — | — | — | — | — | ||||||||||||||
Total changes | 155 | 11 | (42 | ) | (6 | ) | (36 | ) | 4 | 8 | ||||||||||||
Unrecognized tax benefits — December 31 | $ | 540 | $ | 271 | $ | 131 | $ | 67 | $ | 44 | $ | 36 | $ | 32 | ||||||||
Schedule of Unrecognized Tax Benefits | The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits. It is reasonably possible that Duke Energy and Progress Energy will reflect an approximate $28 million reduction, Duke Energy Progress will reflect an approximate $17 million reduction, and Duke Energy Florida will reflect an approximate $7 million reduction in unrecognized tax benefits within the next 12 months due to the expected lapse of the statute of limitations. All other Duke Energy Registrants do not anticipate a material increase or decrease in unrecognized tax benefits within the next 12 months. | |||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke | Duke | Progress Energy | Duke | Duke | Duke | ||||||||||||||||
Energy | Energy | Energy Progress | Energy Florida | Energy | ||||||||||||||||||
Carolinas | Indiana | |||||||||||||||||||||
Amount that if recognized, would affect the | $ | 121 | $ | 112 | $ | 3 | $ | 2 | $ | 2 | $ | 2 | ||||||||||
effective tax rate or regulatory liability(a) | ||||||||||||||||||||||
Amount that if recognized, would be recorded as a component | 8 | — | — | — | — | — | ||||||||||||||||
of discontinued operations | ||||||||||||||||||||||
(a) | Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana are unable to estimate the specific amounts that would affect the effective tax rate versus the regulatory liability. | |||||||||||||||||||||
Summary of Income Tax Contingencies | The following tables include interest recognized in the Consolidated Statements of Operations and the Consolidated Balance Sheets. | |||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||
Net interest income recognized related to income taxes | $ | 6 | $ | — | $ | 3 | $ | — | $ | 1 | $ | 4 | $ | 4 | ||||||||
Net interest expense recognized related to income taxes | — | 1 | — | 1 | — | — | — | |||||||||||||||
Interest receivable related to income taxes | — | — | — | — | — | — | 2 | |||||||||||||||
Interest payable related to income taxes | 13 | 13 | 5 | 3 | 5 | — | — | |||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||
Net interest income recognized related to income taxes | $ | 2 | $ | 2 | 6 | 7 | — | 4 | $ | 1 | ||||||||||||
Interest payable related to income taxes | 27 | 8 | 10 | 2 | 7 | — | — | |||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||
Net interest income recognized related to income taxes | $ | 10 | $ | 9 | $ | — | $ | — | $ | — | — | 2 | ||||||||||
Net interest expense recognized related to income taxes | — | — | 2 | — | 2 | — | — | |||||||||||||||
Interest receivable related to income taxes | — | 7 | — | — | — | — | — | |||||||||||||||
Interest payable related to income taxes | 7 | — | 17 | 8 | 9 | 3 | 1 | |||||||||||||||
Other_Income_and_Expenses_Net_
Other Income and Expenses, Net (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Component Of Other Income Expense Nonoperating [Line Items] | ||||||||||||||||||||||||||||
Schedule of Other Income and Expenses, Net | The components of Other income and expenses, net on the Consolidated Statements of Operations are as follows. | |||||||||||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Interest income | $ | 57 | $ | 4 | $ | 3 | $ | — | $ | 2 | $ | 8 | $ | 6 | ||||||||||||||
Foreign exchange gains | 3 | — | — | — | — | — | — | |||||||||||||||||||||
AFUDC equity | 135 | 91 | 26 | 25 | — | 4 | 14 | |||||||||||||||||||||
Deferred returns | 89 | 71 | 17 | 17 | — | — | — | |||||||||||||||||||||
Other income (expense) | 67 | 6 | 31 | 9 | 18 | (2 | ) | 2 | ||||||||||||||||||||
Other income and expense, net | $ | 351 | $ | 172 | $ | 77 | $ | 51 | $ | 20 | $ | 10 | $ | 22 | ||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Interest income | $ | 26 | $ | 1 | $ | 7 | $ | 1 | $ | 3 | $ | 5 | $ | 6 | ||||||||||||||
Foreign exchange losses | (18 | ) | — | — | — | — | — | — | ||||||||||||||||||||
AFUDC equity | 157 | 91 | 50 | 42 | 8 | 1 | 15 | |||||||||||||||||||||
Deferred returns | 39 | 32 | 7 | 7 | — | — | — | |||||||||||||||||||||
Other income (expense) | 58 | (4 | ) | 30 | 7 | 19 | (4 | ) | (3 | ) | ||||||||||||||||||
Other income and expense, net | $ | 262 | $ | 120 | $ | 94 | $ | 57 | $ | 30 | $ | 2 | $ | 18 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
(in millions) | Duke Energy | Duke Energy Carolinas | Progress Energy | Duke Energy Progress | Duke Energy Florida | Duke Energy Ohio | Duke Energy Indiana | |||||||||||||||||||||
Interest income | $ | 50 | $ | 11 | $ | 2 | $ | 1 | $ | 1 | $ | — | $ | 7 | ||||||||||||||
Foreign exchange gains | 4 | — | — | — | — | — | — | |||||||||||||||||||||
AFUDC equity | 300 | 154 | 106 | 69 | 37 | 6 | 84 | |||||||||||||||||||||
Deferred returns | 24 | 24 | — | — | — | — | — | |||||||||||||||||||||
Other income (expense) | 19 | (4 | ) | 22 | 9 | 1 | 2 | (1 | ) | |||||||||||||||||||
Other income and expense, net | $ | 397 | $ | 185 | $ | 130 | $ | 79 | $ | 39 | $ | 8 | $ | 90 | ||||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Line Items] | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | Quarterly EPS amounts are meant to be stand-alone calculations and are not always additive to the full-year amount due to rounding and the weighting of share issuances. | |||||||||||||||||||
(in millions, except per share data) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter(a) | Quarter(a) | Quarter(a) | Quarter(a) | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 6,263 | $ | 5,708 | $ | 6,395 | $ | 5,559 | $ | 23,925 | ||||||||||
Operating income | 1,362 | 1,289 | 1,619 | 988 | 5,258 | |||||||||||||||
Income from continuing operations | 750 | 725 | 891 | 99 | 2,465 | |||||||||||||||
(Loss) income from discontinued operations, net of tax | (843 | ) | (112 | ) | 378 | 1 | (576 | ) | ||||||||||||
Net loss (income) | (93 | ) | 613 | 1,269 | 100 | 1,889 | ||||||||||||||
Net loss (income) attributable to Duke Energy Corporation | (97 | ) | 609 | 1,274 | 97 | 1,883 | ||||||||||||||
Earnings per share: | ||||||||||||||||||||
Income from continuing operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | 1.05 | $ | 1.02 | $ | 1.25 | $ | 0.14 | $ | 3.46 | ||||||||||
Diluted | $ | 1.05 | $ | 1.02 | $ | 1.25 | $ | 0.14 | $ | 3.46 | ||||||||||
(Loss) income from discontinued operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | (1.19 | ) | $ | (0.16 | ) | $ | 0.55 | $ | — | $ | (0.80 | ) | |||||||
Diluted | $ | (1.19 | ) | $ | (0.16 | ) | $ | 0.55 | $ | — | $ | (0.80 | ) | |||||||
Net (loss) income attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | (0.14 | ) | $ | 0.86 | $ | 1.8 | $ | 0.14 | $ | 2.66 | |||||||||
Diluted | $ | (0.14 | ) | $ | 0.86 | $ | 1.8 | $ | 0.14 | $ | 2.66 | |||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 5,536 | $ | 5,393 | $ | 6,217 | $ | 5,610 | $ | 22,756 | ||||||||||
Operating income | 1,259 | 742 | 1,660 | 1,193 | 4,854 | |||||||||||||||
Income from continuing operations | 663 | 292 | 946 | 689 | 2,590 | |||||||||||||||
(Loss) income from discontinued operations, net of tax | (29 | ) | 50 | 62 | 3 | 86 | ||||||||||||||
Net income | 634 | 342 | 1,008 | 692 | 2,676 | |||||||||||||||
Net income attributable to Duke Energy Corporation | 634 | 339 | 1,004 | 688 | 2,665 | |||||||||||||||
Earnings per share: | ||||||||||||||||||||
Income from continuing operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | 0.93 | $ | 0.4 | $ | 1.33 | $ | 0.96 | $ | 3.64 | ||||||||||
Diluted | $ | 0.93 | $ | 0.4 | $ | 1.33 | $ | 0.96 | $ | 3.63 | ||||||||||
(Loss) income from discontinued operations attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | (0.04 | ) | $ | 0.08 | $ | 0.09 | $ | 0.01 | $ | 0.13 | |||||||||
Diluted | $ | (0.04 | ) | $ | 0.08 | $ | 0.09 | $ | 0.01 | $ | 0.13 | |||||||||
Net income attributable to Duke Energy Corporation common shareholders | ||||||||||||||||||||
Basic | $ | 0.89 | $ | 0.48 | $ | 1.42 | $ | 0.97 | $ | 3.77 | ||||||||||
Diluted | $ | 0.89 | $ | 0.48 | $ | 1.42 | $ | 0.97 | $ | 3.76 | ||||||||||
(a) | Operating results reflect reclassifications due to the impact of discontinued operations (see Note 2 for further information). | |||||||||||||||||||
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 unless otherwise noted. | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (55 | ) | $ | (61 | ) | $ | (56 | ) | $ | (33 | ) | $ | (205 | ) | |||||
Midwest Generation Impairment (see Note 2) | (1,287 | ) | — | 477 | (39 | ) | (849 | ) | ||||||||||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (102 | ) | (102 | ) | |||||||||||||
International Tax Adjustment (see Note 22) | — | — | — | (373 | ) | (373 | ) | |||||||||||||
Asset Impairment (see Note 11) | (94 | ) | — | — | — | (94 | ) | |||||||||||||
Total | $ | (1,436 | ) | $ | (61 | ) | $ | 421 | $ | (547 | ) | $ | (1,623 | ) | ||||||
2013(a) | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (55 | ) | $ | (82 | ) | $ | (88 | ) | $ | (72 | ) | $ | (297 | ) | |||||
Crystal River Unit 3 charges (see Note 4) | — | (295 | ) | — | (57 | ) | (352 | ) | ||||||||||||
Harris and Levy nuclear development charges (see Note 4) | — | (87 | ) | — | — | (87 | ) | |||||||||||||
Gain on sale of DukeNet (see Note 12) | — | — | — | 105 | 105 | |||||||||||||||
Total | $ | (55 | ) | $ | (464 | ) | $ | (88 | ) | $ | (24 | ) | $ | (631 | ) | |||||
(a) | Revised retail rates became effective in January for Duke Energy Florida, May for Duke Energy Ohio, June for Duke Energy Progress and September for Duke Energy Carolinas (see Note 4 for further information). | |||||||||||||||||||
Duke Energy Carolinas [Member] | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Line Items] | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | DUKE ENERGY CAROLINAS | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 2,000 | $ | 1,755 | $ | 1,938 | $ | 1,658 | $ | 7,351 | ||||||||||
Operating income | 509 | 438 | 630 | 318 | 1,895 | |||||||||||||||
Net income | 286 | 270 | 377 | 139 | 1,072 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 1,729 | $ | 1,591 | $ | 1,919 | $ | 1,715 | $ | 6,954 | ||||||||||
Operating income | 434 | 351 | 604 | 420 | 1,809 | |||||||||||||||
Net income | 244 | 181 | 342 | 209 | 976 | |||||||||||||||
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 unless otherwise noted. | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (29 | ) | $ | (38 | ) | $ | (25 | ) | $ | (17 | ) | $ | (109 | ) | |||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (72 | ) | (72 | ) | |||||||||||||
Total | (29 | ) | (38 | ) | (25 | ) | (89 | ) | (181 | ) | ||||||||||
2013(a) | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (22 | ) | $ | (35 | ) | $ | (34 | ) | $ | (29 | ) | $ | (120 | ) | |||||
(a) | Revised retail rates became effective in September in both North Carolina and South Carolina (see Note 4 for further information). | |||||||||||||||||||
Progress Energy [Member] | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Line Items] | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | PROGRESS ENERGY | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 2,541 | $ | 2,421 | $ | 2,863 | $ | 2,341 | $ | 10,166 | ||||||||||
Operating income | 477 | 488 | 665 | 388 | 2,018 | |||||||||||||||
Income from continuing operations | 204 | 207 | 330 | 139 | 880 | |||||||||||||||
Net income | 203 | 202 | 330 | 139 | 874 | |||||||||||||||
Net income attributable to Parent | 202 | 202 | 329 | 136 | 869 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 2,186 | $ | 2,281 | $ | 2,766 | $ | 2,300 | $ | 9,533 | ||||||||||
Operating income | 430 | 114 | 671 | 403 | 1,618 | |||||||||||||||
Income (loss) from continuing operations | 154 | (13 | ) | 328 | 190 | 659 | ||||||||||||||
Net income (loss) | 154 | (17 | ) | 342 | 196 | 675 | ||||||||||||||
Net income (loss) attributable to Parent | 153 | (17 | ) | 341 | 195 | 672 | ||||||||||||||
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 unless otherwise noted. | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (19 | ) | $ | (12 | ) | $ | (21 | ) | $ | (13 | ) | $ | (65 | ) | |||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (30 | ) | (30 | ) | |||||||||||||
Total | (19 | ) | (12 | ) | (21 | ) | (43 | ) | (95 | ) | ||||||||||
2013(a) | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (19 | ) | $ | (33 | ) | $ | (42 | ) | $ | (28 | ) | $ | (122 | ) | |||||
Crystal River Unit 3 charges (see Note 4) | — | (295 | ) | — | (57 | ) | (352 | ) | ||||||||||||
Harris and Levy nuclear development charges (see Note 4) | — | (87 | ) | — | — | (87 | ) | |||||||||||||
Total | $ | (19 | ) | $ | (415 | ) | $ | (42 | ) | $ | (85 | ) | $ | (561 | ) | |||||
(a) | Revised retail rates became effective in January in Florida and June in North Carolina (see Note 4 for further information). | |||||||||||||||||||
Duke Energy Progress [Member] | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Line Items] | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | DUKE ENERGY PROGRESS | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 1,422 | $ | 1,191 | $ | 1,367 | $ | 1,196 | $ | 5,176 | ||||||||||
Operating income | 258 | 212 | 285 | 180 | 935 | |||||||||||||||
Net income | 133 | 101 | 157 | 76 | 467 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 1,216 | $ | 1,135 | $ | 1,430 | $ | 1,211 | $ | 4,992 | ||||||||||
Operating income | 212 | 166 | 303 | 251 | 932 | |||||||||||||||
Net income | 110 | 77 | 175 | 138 | 500 | |||||||||||||||
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 unless otherwise noted. | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (14 | ) | $ | (3 | ) | $ | (15 | ) | $ | (10 | ) | $ | (42 | ) | |||||
Coal ash Plea Agreements Reserve (see Note 5) | — | — | — | (30 | ) | (30 | ) | |||||||||||||
Total | (14 | ) | (3 | ) | (15 | ) | (40 | ) | (72 | ) | ||||||||||
2013(a) | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (11 | ) | $ | (22 | ) | $ | (32 | ) | $ | (19 | ) | $ | (84 | ) | |||||
Harris nuclear development charges (see Note 4) | $ | — | $ | (22 | ) | $ | — | $ | — | $ | (22 | ) | ||||||||
Total | $ | (11 | ) | $ | (44 | ) | $ | (32 | ) | $ | (19 | ) | $ | (106 | ) | |||||
(a) | Revised retail rates became effective in June in North Carolina (see Note 4 for further information). | |||||||||||||||||||
Duke Energy Florida [Member] | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Line Items] | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | DUKE ENERGY FLORIDA | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 1,116 | $ | 1,225 | $ | 1,491 | $ | 1,143 | $ | 4,975 | ||||||||||
Operating income | 219 | 276 | 378 | 205 | 1,078 | |||||||||||||||
Net income | 108 | 142 | 205 | 93 | 548 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 968 | $ | 1,142 | $ | 1,332 | $ | 1,085 | $ | 4,527 | ||||||||||
Operating income (loss) | 221 | (53 | ) | 369 | 151 | 688 | ||||||||||||||
Net income (loss) | 110 | (57 | ) | 197 | 75 | 325 | ||||||||||||||
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 unless otherwise noted. | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (5 | ) | $ | (9 | ) | $ | (6 | ) | $ | (3 | ) | $ | (23 | ) | |||||
2013(a) | ||||||||||||||||||||
Costs to achieve the merger with Duke Energy (see Note 2) | $ | (8 | ) | $ | (11 | ) | $ | (10 | ) | $ | (9 | ) | $ | (38 | ) | |||||
Crystal River Unit 3 charges (see Note 4) | — | (295 | ) | — | (57 | ) | (352 | ) | ||||||||||||
Levy nuclear development charges (see Note 4) | — | (65 | ) | — | — | (65 | ) | |||||||||||||
Total | $ | (8 | ) | $ | (371 | ) | $ | (10 | ) | $ | (66 | ) | $ | (455 | ) | |||||
(a) | Revised retail rates became effective in January (see Note 4 for further information). | |||||||||||||||||||
Duke Energy Ohio [Member] | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Line Items] | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | DUKE ENERGY OHIO | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter(a) | Quarter(a) | Quarter(a) | Quarter(a) | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 575 | $ | 412 | $ | 446 | $ | 480 | $ | 1,913 | ||||||||||
Operating (loss) income | (7 | ) | 62 | 58 | 74 | 187 | ||||||||||||||
(Loss) income from discontinued operations, net of tax | (875 | ) | (135 | ) | 413 | 34 | (563 | ) | ||||||||||||
Net (loss) income | (890 | ) | (108 | ) | 439 | 64 | (495 | ) | ||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 503 | $ | 408 | $ | 438 | $ | 456 | $ | 1,805 | ||||||||||
Operating income | 56 | 27 | 50 | 49 | 182 | |||||||||||||||
(Loss) income from discontinued operations, net of tax | (47 | ) | 51 | 35 | (4 | ) | 35 | |||||||||||||
Net (loss) income | (21 | ) | 58 | 59 | 6 | 102 | ||||||||||||||
(a) | Operating results reflect reclassifications due to the impact of discontinued operations (see Note 2 for further information). | |||||||||||||||||||
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 unless otherwise noted. | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (2 | ) | $ | (4 | ) | $ | (3 | ) | $ | (2 | ) | $ | (11 | ) | |||||
Midwest Generation Impairment (see Note 2) | (1,318 | ) | — | 477 | (39 | ) | (880 | ) | ||||||||||||
Asset Impairment (see Note 11) | (94 | ) | — | — | — | (94 | ) | |||||||||||||
Total | $ | (1,414 | ) | $ | (4 | ) | $ | 474 | $ | (41 | ) | $ | (985 | ) | ||||||
2013(a) | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (4 | ) | $ | (4 | ) | $ | (4 | ) | $ | (4 | ) | $ | (16 | ) | |||||
(a) | Revised retail rates became effective in May (see Note 4 for further information). | |||||||||||||||||||
Duke Energy Indiana [Member] | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Line Items] | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | DUKE ENERGY INDIANA | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Operating revenues | $ | 845 | $ | 748 | $ | 790 | $ | 792 | $ | 3,175 | ||||||||||
Operating income | 215 | 178 | 182 | 130 | 705 | |||||||||||||||
Net income | 113 | 87 | 101 | 58 | 359 | |||||||||||||||
2013 | ||||||||||||||||||||
Operating revenues | $ | 724 | $ | 700 | $ | 755 | $ | 747 | $ | 2,926 | ||||||||||
Operating income | 181 | 168 | 203 | 181 | 733 | |||||||||||||||
Net income | 90 | 82 | 104 | 82 | 358 | |||||||||||||||
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 unless otherwise noted. | |||||||||||||||||||
(in millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
2014 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (2 | ) | $ | (5 | ) | $ | (3 | ) | $ | (2 | ) | $ | (12 | ) | |||||
2013 | ||||||||||||||||||||
Costs to achieve Progress Energy merger (see Note 2) | $ | (4 | ) | $ | (5 | ) | $ | (5 | ) | $ | (5 | ) | $ | (19 | ) |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Narrative)(Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 96 Months Ended | 6 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2022 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2011 | Mar. 01, 2013 | |
Organization And Basis Of Presentation [Line Items] | |||||||||
SAFSTOR Commencement Period | 60 years | ||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Payments for the redemption of preferred stock | $96,000,000 | ||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 2,036,000,000 | 1,501,000,000 | 1,424,000,000 | 2,036,000,000 | 2,110,000,000 | ||||
Restricted Cash [Abstract] | |||||||||
Restricted cash | 298,000,000 | 307,000,000 | 298,000,000 | ||||||
Duke Energy Carolinas [Member] | |||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 13,000,000 | 23,000,000 | 19,000,000 | 13,000,000 | 289,000,000 | ||||
Progress Energy [Member] | |||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Payments for the redemption of preferred stock | 96,000,000 | ||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 42,000,000 | 58,000,000 | 231,000,000 | 42,000,000 | 230,000,000 | ||||
Duke Energy Progress [Member] | |||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Payments for the redemption of preferred stock | 62,000,000 | 62,000,000 | 0 | ||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 9,000,000 | 21,000,000 | 18,000,000 | 9,000,000 | 20,000,000 | ||||
Duke Energy Progress [Member] | Minimum [Member] | |||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Redemption price | $101 | ||||||||
Duke Energy Progress [Member] | Maximum [Member] | |||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Redemption price | $110 | ||||||||
Duke Energy Florida [Member] | |||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Payments for the redemption of preferred stock | 34,000,000 | 34,000,000 | |||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 8,000,000 | 16,000,000 | 131,000,000 | 8,000,000 | 16,000,000 | ||||
Duke Energy Florida [Member] | Minimum [Member] | |||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Redemption price | $101 | ||||||||
Duke Energy Florida [Member] | Maximum [Member] | |||||||||
Preferred Stock Of Subsidiaries [Abstract] | |||||||||
Redemption price | $104.25 | ||||||||
Duke Energy Ohio [Member] | |||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 20,000,000 | 36,000,000 | 31,000,000 | 20,000,000 | 99,000,000 | ||||
Duke Energy Indiana [Member] | |||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 6,000,000 | 15,000,000 | 36,000,000 | 6,000,000 | 16,000,000 | ||||
International Energy [Member] | |||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and cash equivalents at end of period | 1,680,000,000 | 1,680,000,000 | |||||||
Restricted Cash [Abstract] | |||||||||
Cash Repatriation period | 8 years | ||||||||
International Energy [Member] | Scenario, Forecast [Member] | |||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Foreign Earnings Repatriated | $2,700,000,000 | ||||||||
Utility Franchise Tax Member [Member] | Duke Energy Carolinas [Member] | State [Member] | |||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||
Statutory Tax Rate | 3.22% | ||||||||
Utility Franchise Tax Member [Member] | Duke Energy Progress [Member] | State [Member] | |||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||
Statutory Tax Rate | 3.22% | ||||||||
Electricity Sales Tax Member [Member] | Duke Energy Carolinas [Member] | State [Member] | |||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||
Statutory Tax Rate | 3.00% | ||||||||
Electricity Sales Tax Member [Member] | Duke Energy Progress [Member] | State [Member] | |||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||
Statutory Tax Rate | 3.00% | ||||||||
Current [Member] | Electricity Sales Tax Member [Member] | Duke Energy Carolinas [Member] | State [Member] | |||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||
Statutory Tax Rate | 7.00% | ||||||||
Current [Member] | Electricity Sales Tax Member [Member] | Duke Energy Progress [Member] | State [Member] | |||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||
Statutory Tax Rate | 7.00% |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Other Assets and Liabilities)(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Organization And Basis Of Presentation [Line Items] | ||
Collateral assets | $209 | $135 |
Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 638 | 621 |
Duke Energy Carolinas [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 216 | 198 |
Collateral liabilities | 128 | 120 |
Progress Energy [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Collateral assets | 23 | 10 |
Progress Energy [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 718 | 119 |
Progress Energy [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 174 | 214 |
Customer deposits | 360 | 349 |
Derivative liabilities | 271 | |
Duke Energy Progress [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 272 | 15 |
Duke Energy Progress [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 116 | 121 |
Customer deposits | 135 | 129 |
Derivative liabilities | 108 | 38 |
Duke Energy Florida [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Collateral assets | 23 | 10 |
Duke Energy Florida [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 177 | 65 |
Duke Energy Florida [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 57 | 65 |
Customer deposits | 225 | 220 |
Derivative liabilities | 163 | |
Duke Energy Ohio [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Collateral assets | 186 | 125 |
Duke Energy Ohio [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Collateral assets | 13 | 122 |
Duke Energy Indiana [Member] | Current Assets, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Income taxes receivable | 98 | 56 |
Duke Energy Indiana [Member] | Current Liabilities, Other [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Accrued compensation | 25 | 25 |
Collateral liabilities | $43 | $40 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Amounts Attributable to Controlling Interests) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Organization And Basis Of Presentation [Line Items] | |||||||||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | $99 | $891 | $725 | $750 | $689 | $946 | $292 | $663 | $2,465 | $2,590 | $1,611 |
Income (Loss) from Continuing Operations Attributable to Noncontrolling Interest | 14 | 16 | 18 | ||||||||
Income from continuing operations attributable to Duke Energy common stockholders, as adjusted for participating securities - basic and diluted | 2,451 | 2,574 | 1,593 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | 1 | 378 | -112 | -843 | 3 | 62 | 50 | -29 | -576 | 86 | 171 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest | -8 | -5 | -4 | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -568 | 91 | 175 | ||||||||
Net income | 100 | 1,269 | 613 | -93 | 692 | 1,008 | 342 | 634 | 1,889 | 2,676 | 1,782 |
Net Income (Loss) Attributable to Noncontrolling Interest | 6 | 11 | 14 | ||||||||
Net Income (Loss) Attributable to Parent | 97 | 1,274 | 609 | -97 | 688 | 1,004 | 339 | 634 | 1,883 | 2,665 | 1,768 |
Progress Energy [Member] | |||||||||||
Organization And Basis Of Presentation [Line Items] | |||||||||||
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 139 | 330 | 207 | 204 | 190 | 328 | -13 | 154 | 880 | 659 | 355 |
Income (Loss) from Continuing Operations Attributable to Noncontrolling Interest | 5 | 3 | 7 | ||||||||
Income from continuing operations attributable to Duke Energy common stockholders, as adjusted for participating securities - basic and diluted | 875 | 656 | 348 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | -6 | 16 | 52 | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -6 | 16 | 52 | ||||||||
Net income | 139 | 330 | 202 | 203 | 196 | 342 | -17 | 154 | 874 | 675 | 407 |
Net Income (Loss) Attributable to Noncontrolling Interest | 5 | 3 | 7 | ||||||||
Net Income (Loss) Attributable to Parent | $136 | $329 | $202 | $202 | $195 | $341 | ($17) | $153 | $869 | $672 | $400 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Inventory)(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | $2,102 | $1,901 |
Coal held for electric generation | 997 | 1,018 |
Oil, gas and other fuel held for electric generation | 360 | 331 |
Public Utilities, Inventory | 3,459 | 3,250 |
Duke Energy Carolinas [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 719 | 654 |
Coal held for electric generation | 362 | 374 |
Oil, gas and other fuel held for electric generation | 43 | 37 |
Public Utilities, Inventory | 1,124 | 1,065 |
Progress Energy [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 981 | 854 |
Coal held for electric generation | 329 | 334 |
Oil, gas and other fuel held for electric generation | 280 | 236 |
Public Utilities, Inventory | 1,590 | 1,424 |
Duke Energy Progress [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 676 | 567 |
Coal held for electric generation | 150 | 187 |
Oil, gas and other fuel held for electric generation | 140 | 99 |
Public Utilities, Inventory | 966 | 853 |
Duke Energy Florida [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 305 | 287 |
Coal held for electric generation | 178 | 147 |
Oil, gas and other fuel held for electric generation | 140 | 137 |
Public Utilities, Inventory | 623 | 571 |
Duke Energy Ohio [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 67 | 117 |
Coal held for electric generation | 21 | 65 |
Oil, gas and other fuel held for electric generation | 9 | 47 |
Public Utilities, Inventory | 97 | 229 |
Duke Energy Indiana [Member] | ||
Public Utilities, Inventory [Line Items] | ||
Materials and supplies | 258 | 193 |
Coal held for electric generation | 275 | 238 |
Oil, gas and other fuel held for electric generation | 4 | 3 |
Public Utilities, Inventory | $537 | $434 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Property, Plant and Equipment)(Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.80% | 2.80% | 2.90% |
Duke Energy Carolinas [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.70% | 2.80% | 2.80% |
Progress Energy [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.50% | 2.50% | 2.60% |
Duke Energy Progress [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.50% | 2.50% | 2.70% |
Duke Energy Florida [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.70% | 2.40% | 2.50% |
Duke Energy Ohio [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 2.30% | 3.30% | 3.20% |
Duke Energy Indiana [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Weighted-average depreciation rate | 3.00% | 2.80% | 3.30% |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Unbilled Revenues)(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | $827 | $937 |
Duke Energy Carolinas [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 295 | 323 |
Progress Energy [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 217 | 189 |
Duke Energy Progress [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 135 | 120 |
Duke Energy Florida [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 82 | 69 |
Duke Energy Ohio [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 55 | |
Duke Energy Indiana [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 27 | 5 |
Cinergy Receivables [Member] | Duke Energy Ohio [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | 79 | 89 |
Cinergy Receivables [Member] | Duke Energy Indiana [Member] | ||
Organization And Basis Of Presentation [Line Items] | ||
Unbilled receivables | $112 | $144 |
Summary_of_Significant_Account9
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Allowance for Doubtful Accounts)(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | $17 | $30 | $34 |
Restricted receivables, allowance for doubtful accounts | 51 | 43 | 44 |
Duke Energy Carolinas [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 3 | 3 | 3 |
Restricted receivables, allowance for doubtful accounts | 6 | 6 | 6 |
Progress Energy [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 8 | 14 | 16 |
Restricted receivables, allowance for doubtful accounts | 8 | ||
Duke Energy Progress [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 7 | 10 | 9 |
Restricted receivables, allowance for doubtful accounts | 5 | ||
Duke Energy Florida [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 2 | 4 | 7 |
Restricted receivables, allowance for doubtful accounts | 3 | ||
Duke Energy Ohio [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | 2 | 2 | 2 |
Duke Energy Indiana [Member] | |||
Organization And Basis Of Presentation [Line Items] | |||
Receivables, allowance for doubtful accounts | $1 | $1 | $1 |
Recovered_Sheet1
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Excise Taxes)(Details) (USD $) | 12 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2014 |
Organization And Basis Of Presentation [Line Items] | |||||
Excise taxes | $498 | $602 | $466 | ||
Duke Energy Carolinas [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Excise taxes | 94 | 164 | 161 | ||
Progress Energy [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Excise taxes | 263 | 304 | 317 | ||
Duke Energy Progress [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Excise taxes | 56 | 115 | 113 | ||
Duke Energy Florida [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Excise taxes | 207 | 189 | 205 | ||
Duke Energy Ohio [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Excise taxes | 103 | 105 | 102 | ||
Duke Energy Indiana [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Excise taxes | 38 | 29 | 33 | ||
State [Member] | Duke Energy Carolinas [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Annual Reduction In Excise Taxes | 160 | ||||
State [Member] | Duke Energy Progress [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Annual Reduction In Excise Taxes | $110 | ||||
Utility Franchise Tax Member [Member] | State [Member] | Duke Energy Carolinas [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Statutory Tax Rate | 3.22% | ||||
Utility Franchise Tax Member [Member] | State [Member] | Duke Energy Progress [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Statutory Tax Rate | 3.22% | ||||
Electricity Sales Tax Member [Member] | State [Member] | Duke Energy Carolinas [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Statutory Tax Rate | 3.00% | ||||
Electricity Sales Tax Member [Member] | State [Member] | Duke Energy Progress [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Statutory Tax Rate | 3.00% | ||||
Electricity Sales Tax Member [Member] | Current [Member] | State [Member] | Duke Energy Carolinas [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Statutory Tax Rate | 7.00% | ||||
Electricity Sales Tax Member [Member] | Current [Member] | State [Member] | Duke Energy Progress [Member] | |||||
Organization And Basis Of Presentation [Line Items] | |||||
Statutory Tax Rate | 7.00% |
Acquisitions_Dispositions_and_2
Acquisitions, Dispositions and Sales of Other Assets (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2017 | Jan. 12, 2012 | Dec. 31, 2015 | Dec. 31, 2012 | Jul. 02, 2012 | Jun. 30, 2015 | |
Significant Acquisitions and Disposals [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | $54,000,000 | $451,000,000 | |||||||
Goodwill | 16,321,000,000 | 16,340,000,000 | |||||||
Capital expenditures | 5,384,000,000 | 5,526,000,000 | 5,501,000,000 | ||||||
Commercial Power [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Proceeds | 187,000,000 | ||||||||
Duke Energy Carolinas [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Capital expenditures | 1,879,000,000 | 1,695,000,000 | 1,908,000,000 | ||||||
Progress Energy [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Goodwill | 3,655,000,000 | 3,655,000,000 | |||||||
Capital expenditures | 1,940,000,000 | 2,490,000,000 | 2,366,000,000 | ||||||
Duke Energy Progress [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Capital expenditures | 1,241,000,000 | 1,567,000,000 | 1,525,000,000 | ||||||
Duke Energy Florida [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Capital expenditures | 699,000,000 | 915,000,000 | 809,000,000 | ||||||
Duke Energy Florida [Member] | Scenario, Forecast [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | 166,000,000 | ||||||||
Duke Energy Ohio [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Goodwill | 920,000,000 | 920,000,000 | |||||||
Capital expenditures | 322,000,000 | 434,000,000 | 514,000,000 | ||||||
Transfer of Vermillion Generating Station | 28,000,000 | 28,000,000 | |||||||
Duke Energy Indiana [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Capital expenditures | 625,000,000 | 545,000,000 | 718,000,000 | ||||||
Transfer of Vermillion Generating Station | 26,000,000 | 26,000,000 | |||||||
NCEMPA Generating Assets [Member] | Duke Energy Progress [Member] | Scenario, Forecast [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | 1,200,000,000 | ||||||||
Progress Merger [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Business combination, pro forma information, revenue of acquiree since acquisition date, actual | 4,943,000,000 | ||||||||
Business combination, pro forma information, earnings or loss of acquiree since acquisition date, actual | 368,000,000 | ||||||||
Property, plant and equipment | 23,141,000,000 | ||||||||
Goodwill | 12,469,000,000 | ||||||||
Working capital | 3,204,000,000 | ||||||||
Ibener [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | 415,000,000 | ||||||||
Property, plant and equipment | 383,000,000 | 383,000,000 | |||||||
Intangibles | 30,000,000 | 30,000,000 | |||||||
Deferred tax | 57,000,000 | 57,000,000 | |||||||
Goodwill | 54,000,000 | 54,000,000 | |||||||
Working capital | 8,000,000 | 8,000,000 | |||||||
Duke Energy Vermillion [Member] | Duke Energy Ohio [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Proceeds | 82,000,000 | ||||||||
Duke Energy Vermillion [Member] | Duke Energy Indiana [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 62.50% | ||||||||
Capital expenditures | 68,000,000 | ||||||||
Midwest Generation Business [Member] | Duke Energy Ohio [Member] | Scenario, Forecast [Member] | |||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||
Disposal Group, Including Discontinued Operation, Consideration | $2,800,000,000 |
Acquisitions_Dispositions_and_3
Acquisitions, Dispositions and Sales of Other Assets (Purchase Price Calculation) (Details) (USD $) | 0 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Jul. 02, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 |
Significant Acquisitions and Disposals [Line Items] | ||||
Progress Energy common shares outstanding | 707,000,000 | 706,000,000 | 445,000,000 | |
Exchange ratio | 87.08% | |||
Duke Energy common shares issued for Progress Energy common shares outstanding | 257,867,000 | |||
Closing price of Duke Energy common shares | $69.84 | |||
Purchase price for common shares | $18,009 | |||
Fair value of outstanding earned stock compensation awards | 62 | |||
Total estimate purchase price | $18,071 | |||
Progress Energy [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Progress Energy common shares outstanding | 296,116,000 | 100 | 100 |
Acquisitions_Dispositions_and_4
Acquisitions, Dispositions and Sales of Other Assets (Accounting Charges) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | ($15) | $117 | |
Severance charges | 34 | 201 | |
Community support and charitable contributions and other | 34 | 92 | |
Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | 117 | ||
Severance charges | 196 | ||
Community support and charitable contributions and other | 169 | ||
Total charges related to the merger consummation | 482 | ||
Duke Energy Carolinas [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | 3 | 46 | |
Severance charges | 8 | 63 | |
Community support and charitable contributions and other | 14 | 56 | |
Duke Energy Carolinas [Member] | Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | 46 | ||
Severance charges | 63 | ||
Community support and charitable contributions and other | 79 | ||
Total charges related to the merger consummation | 188 | ||
Progress Energy [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | -18 | 71 | |
Severance charges | 19 | 82 | |
Community support and charitable contributions and other | 20 | 36 | |
Progress Energy [Member] | Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | 71 | ||
Severance charges | 82 | ||
Community support and charitable contributions and other | 74 | ||
Total charges related to the merger consummation | 227 | ||
Duke Energy Progress [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | -18 | 71 | |
Severance charges | 14 | 55 | |
Community support and charitable contributions and other | 20 | 36 | |
Duke Energy Progress [Member] | Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
FERC mitigation | 71 | ||
Severance charges | 55 | ||
Community support and charitable contributions and other | 63 | ||
Total charges related to the merger consummation | 189 | ||
Duke Energy Florida [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Severance charges | 5 | 27 | |
Duke Energy Florida [Member] | Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Severance charges | 27 | ||
Community support and charitable contributions and other | 11 | ||
Total charges related to the merger consummation | 38 | ||
Duke Energy Ohio [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Severance charges | 2 | 21 | |
Duke Energy Ohio [Member] | Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Severance charges | 21 | ||
Community support and charitable contributions and other | 7 | ||
Total charges related to the merger consummation | 28 | ||
Duke Energy Indiana [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Severance charges | 2 | 18 | |
Duke Energy Indiana [Member] | Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Severance charges | 18 | ||
Community support and charitable contributions and other | 6 | ||
Total charges related to the merger consummation | $24 |
Acquisitions_Dispositions_and_5
Acquisitions, Dispositions and Sales of Other Assets (Purchase Price Allocation) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Jul. 02, 2012 |
In Millions, unless otherwise specified | |||
Significant Acquisitions and Disposals [Line Items] | |||
Goodwill | $16,321 | $16,340 | |
Total purchase price | 18,071 | ||
Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Current assets | 3,204 | ||
Property, plant and equipment | 23,141 | ||
Goodwill | 12,469 | ||
Other long-term assets, excluding goodwill | 9,990 | ||
Total assets | 48,804 | ||
Current liabilities, including current maturities of long-term debt | 3,593 | ||
Long-term liabilities, preferred stock and noncontrolling interests | 10,394 | ||
Long-term debt | 16,746 | ||
Total liabilities and preferred stock | 30,733 | ||
Total purchase price | $18,071 |
Acquisitions_Dispositions_and_6
Acquisitions, Dispositions and Sales of Other Assets (Narrative - Change in PPA) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Jul. 02, 2012 |
In Millions, unless otherwise specified | |||
Significant Acquisitions and Disposals [Line Items] | |||
Goodwill | $16,321 | $16,340 | |
Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Current assets | 3,204 | ||
Property, plant and equipment | -23,141 | ||
Goodwill | 12,469 | ||
Other long-term assets, excluding goodwill | -9,990 | ||
Current liabilities, including current maturities of long-term debt | 3,593 | ||
Long-term liabilities, preferred stock and noncontrolling interests | -10,394 | ||
Purchase Price Allocation Adjustment [Member] | Progress Merger [Member] | |||
Significant Acquisitions and Disposals [Line Items] | |||
Property, plant and equipment | 138 | ||
Goodwill | 2 | ||
Other long-term assets, excluding goodwill | 4 | ||
Current liabilities, including current maturities of long-term debt | 12 | ||
Long-term liabilities, preferred stock and noncontrolling interests | $152 |
Acquisitions_Dispositions_and_7
Acquisitions, Dispositions and Sales of Other Assets (Pro Forma Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||
Costs to achieve the merger | $33 | $56 | $61 | $55 | $72 | $88 | $82 | $55 | $205 | $297 | |
Revenues | 23,976 | ||||||||||
Net Income Attributable to Duke Energy Corporation | 2,417 | ||||||||||
Pro Forma Basic and Diluted Earnings Per Share | $3.43 | ||||||||||
Excluded From Pro Forma [Member] | |||||||||||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||
Costs to achieve the merger | $413 |
Acquisitions_Dispositions_and_8
Acquisitions, Dispositions and Sales of Other Assets Acquisitions, Dispositions and Sales of Other Assets (Plants in Disposal Group) (Details) (Duke Energy Ohio [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
MW | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 9,225 |
Owned Plant Capacity | 5,884 |
J M Stuart Station [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 2,308 |
Owned Plant Capacity | 900 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 39.00% |
W M Zimmer Station [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 1,300 |
Owned Plant Capacity | 605 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 46.50% |
Hanging Rock [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 1,226 |
Owned Plant Capacity | 1,226 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Miami Fort Station Units 7 And 8 [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 1,020 |
Owned Plant Capacity | 652 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 64.00% |
Conesville Station (Unit 4) [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 780 |
Owned Plant Capacity | 312 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 40.00% |
Washington [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 617 |
Owned Plant Capacity | 617 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Fayette [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 614 |
Owned Plant Capacity | 614 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Killen Station [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 600 |
Owned Plant Capacity | 198 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 33.00% |
Lee [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 568 |
Owned Plant Capacity | 568 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Dicks Creek [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 136 |
Owned Plant Capacity | 136 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Miami Fort [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Plant Capacity | 56 |
Owned Plant Capacity | 56 |
Jointly Owned Utility Plant, Proportionate Ownership Share | 100.00% |
Acquisitions_Dispositions_and_9
Acquisitions, Dispositions and Sales of Other Assets Acquisitions, Dispositions and Sales of Other Assets (Assets Held For Sale) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Income tax (benefit) expense | ($295) | $29 | $107 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | 1 | 378 | -112 | -843 | 3 | 62 | 50 | -29 | -576 | 86 | 171 |
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract] | |||||||||||
Current assets | 364 | 364 | |||||||||
Current liabilities | 262 | 7 | 262 | 7 | |||||||
Midwest Generation Business [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Operating Revenues | 1,748 | 1,885 | 1,771 | ||||||||
Estimated loss on disposition | -929 | ||||||||||
(Loss) Income before income taxes | -818 | 141 | 227 | ||||||||
Income tax (benefit) expense | -294 | 56 | 82 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | -524 | 85 | 145 | ||||||||
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract] | |||||||||||
Current assets | 364 | 364 | |||||||||
Investments and other assets | 52 | 52 | |||||||||
Property, plant and equipment | 2,590 | 2,590 | |||||||||
Total assets held for sale | 3,006 | 3,006 | |||||||||
Current liabilities | 262 | 262 | |||||||||
Deferred credits and other liabilities | 35 | 35 | |||||||||
Total liabilities associated with assets held for sale | 297 | 297 | |||||||||
Other Disposal Groups [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Income (Loss) From Discontinued Operations, net of tax | -52 | 1 | 26 | ||||||||
Duke Energy Ohio [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Income tax (benefit) expense | -300 | 32 | 65 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | 34 | 413 | -135 | -875 | -4 | 35 | 51 | -47 | -563 | 35 | 130 |
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract] | |||||||||||
Current assets | 316 | 316 | |||||||||
Current liabilities | 246 | 246 | |||||||||
Duke Energy Ohio [Member] | Midwest Generation Business [Member] | |||||||||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||||||||||
Operating Revenues | 1,299 | 1,503 | 1,435 | ||||||||
Estimated loss on disposition | -959 | ||||||||||
(Loss) Income before income taxes | -863 | 67 | 195 | ||||||||
Income tax (benefit) expense | -300 | 32 | 65 | ||||||||
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract] | |||||||||||
Current assets | 316 | 316 | |||||||||
Investments and other assets | 46 | 46 | |||||||||
Property, plant and equipment | 2,559 | 2,559 | |||||||||
Total assets held for sale | 2,921 | 2,921 | |||||||||
Current liabilities | 246 | 246 | |||||||||
Deferred credits and other liabilities | 34 | 34 | |||||||||
Total liabilities associated with assets held for sale | $280 | $280 |
Business_Segments_Narrative_De
Business Segments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||
Interest expense | $1,622 | $1,543 | $1,244 |
Duke Energy Carolinas [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
Interest expense | 407 | 359 | 384 |
Progress Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
Interest expense | 675 | 680 | 740 |
Duke Energy Progress [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
Interest expense | 234 | 201 | 207 |
Duke Energy Progress [Member] | North Carolina Electric Membership Corporation [Member] | |||
Segment Reporting Information [Line Items] | |||
Entity-wide revenue, major customer, percentage | 11.00% | ||
Duke Energy Florida [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
Interest expense | 201 | 180 | 255 |
Duke Energy Ohio [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest expense | 86 | 74 | 89 |
Duke Energy Indiana [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 1 | ||
Interest expense | 171 | 170 | 138 |
Other Segment [Member] | Progress Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest expense | $241 | $300 | $304 |
National Methanol Company [Member] | International Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Equity method investment, ownership percentage | 25.00% |
Business_Segments_Business_Seg
Business Segments (Business Segment Data) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | $5,559 | $6,395 | $5,708 | $6,263 | $5,610 | $6,217 | $5,393 | $5,536 | $23,925 | $22,756 | $17,912 |
Interest expense | 1,622 | 1,543 | 1,244 | ||||||||
Depreciation and amortization | 3,066 | 2,668 | 2,145 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 130 | 122 | 148 | ||||||||
Income tax expense (benefit) from continuing operations | 1,669 | 1,205 | 623 | ||||||||
Segment income | 2,451 | 2,574 | 1,593 | ||||||||
Add back noncontrolling interests component | 14 | 16 | 18 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | 1 | 378 | -112 | -843 | 3 | 62 | 50 | -29 | -576 | 86 | 171 |
Net Income (Loss) Attributable to Parent | 97 | 1,274 | 609 | -97 | 688 | 1,004 | 339 | 634 | 1,883 | 2,665 | 1,768 |
Net income (loss) | 100 | 1,269 | 613 | -93 | 692 | 1,008 | 342 | 634 | 1,889 | 2,676 | 1,782 |
Impairment charges | 81 | 399 | 666 | ||||||||
Deferred foreign taxes | -67 | 14 | 20 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 5,528 | 5,607 | 5,958 | ||||||||
Assets | 120,709 | 114,779 | 120,709 | 114,779 | 113,856 | ||||||
Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 480 | 446 | 412 | 575 | 456 | 438 | 408 | 503 | 1,913 | 1,805 | 1,820 |
Interest expense | 86 | 74 | 89 | ||||||||
Depreciation and amortization | 214 | 213 | 195 | ||||||||
Income tax expense (benefit) from continuing operations | 43 | 43 | 33 | ||||||||
Segment income | 68 | 67 | 45 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | 34 | 413 | -135 | -875 | -4 | 35 | 51 | -47 | -563 | 35 | 130 |
Net Income (Loss) Attributable to Parent | -495 | 102 | 175 | ||||||||
Net income (loss) | 64 | 439 | -108 | -890 | 6 | 59 | 58 | -21 | -495 | 102 | 175 |
Impairment charges | 94 | 5 | 2 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 322 | 433 | 514 | ||||||||
Assets | 9,999 | 10,763 | 9,999 | 10,763 | 10,560 | ||||||
Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -123 | -135 | -108 | ||||||||
Interest expense | -22 | -6 | |||||||||
Segment income | -10 | -12 | -8 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Assets | 189 | 188 | 189 | 188 | 170 | ||||||
Intersegment Eliminations [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -1 | -2 | |||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Assets | -230 | -155 | -230 | -155 | -166 | ||||||
Other VIEs [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Impairment charges | 94 | ||||||||||
Regulated Utilities [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 22,228 | 20,871 | 16,042 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | -3 | -1 | -5 | ||||||||
After tax deferral of voluntary severance charge | 60 | ||||||||||
Regulated Utilities [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,894 | 1,765 | 1,745 | ||||||||
Regulated Utilities [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 22,271 | 20,910 | 16,080 | ||||||||
Interest expense | 1,093 | 986 | 806 | ||||||||
Depreciation and amortization | 2,759 | 2,323 | 1,827 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | -1 | -5 | |||||||||
Income tax expense (benefit) from continuing operations | 1,628 | 1,522 | 942 | ||||||||
Segment income | 2,795 | 2,504 | 1,744 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 4,744 | 5,049 | 4,220 | ||||||||
Assets | 106,657 | 99,884 | 106,657 | 99,884 | 98,162 | ||||||
Regulated Utilities [Member] | Operating Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,895 | 1,765 | 1,746 | ||||||||
Interest expense | 81 | 74 | 61 | ||||||||
Depreciation and amortization | 211 | 200 | 179 | ||||||||
Income tax expense (benefit) from continuing operations | 117 | 91 | 91 | ||||||||
Segment income | 202 | 151 | 159 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 300 | 375 | 427 | ||||||||
Assets | 6,908 | 6,649 | 6,908 | 6,649 | 6,434 | ||||||
Regulated Utilities [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -43 | -39 | -38 | ||||||||
Regulated Utilities [Member] | Intersegment Eliminations [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -1 | -1 | |||||||||
International Energy [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,417 | 1,546 | 1,549 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 120 | 110 | 134 | ||||||||
Deferred foreign taxes | 373 | ||||||||||
International Energy [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,417 | 1,546 | 1,549 | ||||||||
Interest expense | 93 | 86 | 77 | ||||||||
Depreciation and amortization | 97 | 100 | 99 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 110 | 134 | |||||||||
Income tax expense (benefit) from continuing operations | 449 | 166 | 149 | ||||||||
Segment income | 55 | 408 | 439 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 67 | 67 | 551 | ||||||||
Assets | 5,132 | 4,998 | 5,132 | 4,998 | 5,406 | ||||||
Commercial Power [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 255 | 254 | 299 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 10 | 7 | 14 | ||||||||
Commercial Power [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 19 | 40 | 75 | ||||||||
Commercial Power [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 255 | 260 | 307 | ||||||||
Interest expense | 58 | 61 | 63 | ||||||||
Depreciation and amortization | 92 | 110 | 85 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 7 | 14 | |||||||||
Income tax expense (benefit) from continuing operations | -171 | -148 | -82 | ||||||||
Segment income | -55 | -88 | -59 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 555 | 268 | 1,038 | ||||||||
Assets | 6,278 | 6,955 | 6,278 | 6,955 | 6,992 | ||||||
Commercial Power [Member] | Operating Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 19 | 40 | 76 | ||||||||
Interest expense | 5 | 28 | |||||||||
Depreciation and amortization | 2 | 13 | 16 | ||||||||
Income tax expense (benefit) from continuing operations | -67 | -36 | -40 | ||||||||
Segment income | -121 | -65 | -80 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 22 | 58 | 87 | ||||||||
Assets | 3,187 | 4,170 | 3,187 | 4,170 | 4,175 | ||||||
Commercial Power [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -6 | -8 | |||||||||
Commercial Power [Member] | Intersegment Eliminations [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -1 | ||||||||||
Commercial Power [Member] | Other VIEs [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Impairment charges | 94 | ||||||||||
Total Reportable Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 23,900 | 22,671 | 17,890 | ||||||||
Segment income | 2,795 | 2,824 | 2,124 | ||||||||
Total Reportable Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,913 | 1,805 | 1,820 | ||||||||
Total Reportable Segments [Member] | Operating Segments [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 23,943 | 22,716 | 17,936 | ||||||||
Interest expense | 1,244 | 1,133 | 946 | ||||||||
Depreciation and amortization | 2,948 | 2,533 | 2,011 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 127 | 116 | 143 | ||||||||
Income tax expense (benefit) from continuing operations | 1,906 | 1,540 | 1,009 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 5,366 | 5,384 | 5,809 | ||||||||
Assets | 118,067 | 111,837 | 118,067 | 111,837 | 110,560 | ||||||
Total Reportable Segments [Member] | Operating Segments [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 1,914 | 1,805 | 1,822 | ||||||||
Interest expense | 86 | 74 | 89 | ||||||||
Depreciation and amortization | 213 | 213 | 195 | ||||||||
Income tax expense (benefit) from continuing operations | 50 | 55 | 51 | ||||||||
Segment income | 81 | 86 | 79 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 322 | 433 | 514 | ||||||||
Assets | 10,095 | 10,819 | 10,095 | 10,819 | 10,609 | ||||||
Total Reportable Segments [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -43 | -45 | -46 | ||||||||
Total Reportable Segments [Member] | Intersegment Eliminations [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -1 | -2 | |||||||||
Other Segment [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 25 | 85 | 22 | ||||||||
Other Segment [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | -80 | -90 | -62 | ||||||||
Other Segment [Member] | Corporate, Non-Segment [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Operating revenues | 105 | 175 | 84 | ||||||||
Interest expense | 400 | 416 | 298 | ||||||||
Depreciation and amortization | 118 | 135 | 134 | ||||||||
Equity in earnings (losses) of unconsolidated affiliates | 6 | 5 | |||||||||
Income tax expense (benefit) from continuing operations | -237 | -335 | -386 | ||||||||
Segment income | -334 | -238 | -523 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Capital investments, expenditures and acquisitions | 162 | 223 | 149 | ||||||||
Assets | 2,453 | 2,754 | 2,453 | 2,754 | 3,126 | ||||||
Other Segment [Member] | Corporate, Non-Segment [Member] | Duke Energy Ohio [Member] | |||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | |||||||||||
Depreciation and amortization | 1 | ||||||||||
Income tax expense (benefit) from continuing operations | -7 | -12 | -18 | ||||||||
Segment income | -13 | -19 | -34 | ||||||||
Segment Reporting Information Assets [Abstract] | |||||||||||
Assets | $134 | $99 | $134 | $99 | $117 |
Business_Segments_Schedule_of_
Business Segments (Schedule of Revenue and Long-Lived Assets, By Geographical Area) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Consolidated revenue | $5,559 | $6,395 | $5,708 | $6,263 | $5,610 | $6,217 | $5,393 | $5,536 | $23,925 | $22,756 | $17,912 |
Consolidated long-lived assets | 83,167 | 81,362 | 83,167 | 81,362 | 81,611 | ||||||
U.S. [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Consolidated revenue | 22,508 | 21,211 | 16,366 | ||||||||
Consolidated long-lived assets | 80,709 | 78,581 | 80,709 | 78,581 | 79,144 | ||||||
Latin America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Consolidated revenue | 1,417 | 1,545 | 1,546 | ||||||||
Consolidated long-lived assets | $2,458 | $2,781 | $2,458 | $2,781 | $2,467 |
Business_Segments_Schedule_of_1
Business Segments (Schedule of Revenue, By Products and Services) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | $5,559 | $6,395 | $5,708 | $6,263 | $5,610 | $6,217 | $5,393 | $5,536 | $23,925 | $22,756 | $17,912 |
Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 22,228 | 20,871 | 16,042 | ||||||||
International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,417 | 1,546 | 1,549 | ||||||||
Commercial Power [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 255 | 254 | 299 | ||||||||
Total Reportable Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 23,900 | 22,671 | 17,890 | ||||||||
Retail Electric [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 19,007 | 17,837 | 13,773 | ||||||||
Retail Electric [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 19,007 | 17,837 | 13,773 | ||||||||
Wholesale Electric [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 3,460 | 3,427 | 2,871 | ||||||||
Wholesale Electric [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,879 | 1,720 | 1,120 | ||||||||
Wholesale Electric [Member] | International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,326 | 1,447 | 1,444 | ||||||||
Wholesale Electric [Member] | Commercial Power [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 255 | 260 | 307 | ||||||||
Retail Gas [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 571 | 506 | 470 | ||||||||
Retail Gas [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 571 | 506 | 470 | ||||||||
Wholesale Gas [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 91 | 99 | 105 | ||||||||
Wholesale Gas [Member] | International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 91 | 99 | 105 | ||||||||
Other Revenues [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 814 | 847 | 717 | ||||||||
Other Revenues [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 814 | 847 | 717 | ||||||||
Operating Segments [Member] | Regulated Utilities [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 22,271 | 20,910 | 16,080 | ||||||||
Operating Segments [Member] | International Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,417 | 1,546 | 1,549 | ||||||||
Operating Segments [Member] | Commercial Power [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 255 | 260 | 307 | ||||||||
Operating Segments [Member] | Total Reportable Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | $23,943 | $22,716 | $17,936 |
Business_Segments_Net_Loss_Det
Business Segments (Net Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||
Segment income | $2,451 | $2,574 | $1,593 |
Duke Energy Carolinas [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | -79 | -97 | -169 |
Progress Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | 875 | 656 | 348 |
Progress Energy [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | -190 | -241 | -379 |
Duke Energy Progress [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | -31 | -46 | -139 |
Duke Energy Florida [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | -19 | -24 | -58 |
Duke Energy Indiana [Member] | Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment income | ($11) | ($16) | ($27) |
Regulatory_Matters_Narrative_D
Regulatory Matters (Narrative) (Details) (USD $) | 12 Months Ended | 36 Months Ended | 3 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Mar. 31, 2017 | |
Public Utilities, General Disclosures [Line Items] | |||||
Restructuring Reserve | $28,000,000 | $64,000,000 | $28,000,000 | ||
Net property, plant and equipment | 70,046,000,000 | 69,490,000,000 | 70,046,000,000 | ||
Regulatory assets, current | 1,115,000,000 | 895,000,000 | 1,115,000,000 | ||
Net Asset Percentage Limit | 25.00% | 25.00% | |||
Payments to Acquire Businesses, Gross | 54,000,000 | 451,000,000 | |||
Capitalized interest | 75,000,000 | 89,000,000 | 176,000,000 | ||
Impairment charges | 81,000,000 | 399,000,000 | 666,000,000 | ||
Regulatory assets, noncurrent | 11,042,000,000 | 9,191,000,000 | 11,042,000,000 | ||
Regulatory liability, noncurrent | 6,193,000,000 | 5,949,000,000 | 6,193,000,000 | ||
Regulatory assets | 12,157,000,000 | 10,086,000,000 | 12,157,000,000 | ||
Capital expenditures | 5,384,000,000 | 5,526,000,000 | 5,501,000,000 | ||
Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | 1,659,000,000 | 1,748,000,000 | 1,659,000,000 | ||
Nuclear Deferral [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | 296,000,000 | 262,000,000 | 296,000,000 | ||
Atlantic Coast Pipeline [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 40.00% | 40.00% | |||
NCEMC [Member] | William States Lee Combined Cycle Facility [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 13.00% | 13.00% | |||
Duke Energy Kentucky [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Required Equity Capital Structure Percent | 35.00% | 35.00% | |||
Duke Energy Carolinas [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Restructuring Reserve | 2,000,000 | 5,000,000 | 2,000,000 | ||
Net property, plant and equipment | 24,672,000,000 | 23,012,000,000 | 24,672,000,000 | ||
Regulatory assets, current | 399,000,000 | 295,000,000 | 399,000,000 | ||
Capitalized interest | 38,000,000 | 41,000,000 | 72,000,000 | ||
Impairment charges | 3,000,000 | 31,000,000 | |||
Regulatory assets, noncurrent | 2,465,000,000 | 1,527,000,000 | 2,465,000,000 | ||
Regulatory liability, noncurrent | 2,710,000,000 | 2,576,000,000 | 2,710,000,000 | ||
Regulatory assets | 2,864,000,000 | 1,822,000,000 | 2,864,000,000 | ||
Capital expenditures | 1,879,000,000 | 1,695,000,000 | 1,908,000,000 | ||
Duke Energy Carolinas [Member] | Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | 58,000,000 | 68,000,000 | 58,000,000 | ||
Duke Energy Carolinas [Member] | Nuclear Deferral [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | 141,000,000 | 40,000,000 | 141,000,000 | ||
Duke Energy Carolinas [Member] | Minimum [Member] | Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory Noncurrent Asset, Amortization Period | 5 years | ||||
Duke Energy Carolinas [Member] | Maximum [Member] | Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory Noncurrent Asset, Amortization Period | 10 years | ||||
Duke Energy Carolinas [Member] | Rate Case Step One [Member] | NCUC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 204,000,000 | ||||
Approved percentage rate increase by state commission | 4.50% | ||||
Duke Energy Carolinas [Member] | Rate Case Step One [Member] | PSCSC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 80,000,000 | ||||
Approved percentage rate increase by state commission | 5.50% | ||||
Duke Energy Carolinas [Member] | Rate Case Step Two [Member] | NCUC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 30,000,000 | ||||
Approved percentage rate increase by state commission | 0.60% | ||||
Duke Energy Carolinas [Member] | Rate Case Step Two [Member] | PSCSC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 38,000,000 | ||||
Approved percentage rate increase by state commission | 2.60% | ||||
Duke Energy Carolinas [Member] | Rate Case [Member] | NCUC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 10.20% | ||||
Approved equity capital structure, percentage | 53.00% | ||||
Required shareholder contribution to low income customers or agencies. | 10,000,000 | ||||
Rate increase begin date | 25-Sep-13 | ||||
Duke Energy Carolinas [Member] | Rate Case [Member] | NCUC [Member] | Removal Costs Reduction Year One [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory liability, noncurrent | 30,000,000 | 30,000,000 | |||
Duke Energy Carolinas [Member] | Rate Case [Member] | NCUC [Member] | Removal Costs Reduction Year Two [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory liability, noncurrent | 30,000,000 | 30,000,000 | |||
Duke Energy Carolinas [Member] | Rate Case [Member] | PSCSC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 10.20% | ||||
Approved equity capital structure, percentage | 53.00% | ||||
Required shareholder contribution to low income customers or agencies. | 4,000,000 | ||||
Rate increase begin date | 18-Sep-13 | ||||
Duke Energy Carolinas [Member] | Rate Case [Member] | PSCSC [Member] | Removal Costs Reduction Year One [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory liability, noncurrent | 45,000,000 | 45,000,000 | |||
Duke Energy Carolinas [Member] | William State Lee III Nuclear Station [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Net property, plant and equipment | 427,000,000 | 427,000,000 | |||
Duke Energy Carolinas [Member] | NCEMC [Member] | William States Lee Combined Cycle Facility [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Estimated capital cost of new utility plant, including AFUDC | 600,000,000 | 600,000,000 | |||
Duke Energy Progress [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Restructuring Reserve | 1,000,000 | 11,000,000 | 1,000,000 | ||
Net property, plant and equipment | 15,186,000,000 | 13,650,000,000 | 15,186,000,000 | ||
Regulatory assets, current | 287,000,000 | 127,000,000 | 287,000,000 | ||
Capitalized interest | 10,000,000 | 16,000,000 | 23,000,000 | ||
Impairment charges | -18,000,000 | 22,000,000 | 54,000,000 | ||
Regulatory assets, noncurrent | 2,675,000,000 | 1,384,000,000 | 2,675,000,000 | ||
Regulatory liability, noncurrent | 1,832,000,000 | 1,673,000,000 | 1,832,000,000 | ||
Regulatory assets | 2,962,000,000 | 1,511,000,000 | 2,962,000,000 | ||
Capital expenditures | 1,241,000,000 | 1,567,000,000 | 1,525,000,000 | ||
Duke Energy Progress [Member] | Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory Noncurrent Asset, Amortization Period | 10 years | ||||
Regulatory assets | 152,000,000 | 241,000,000 | 152,000,000 | ||
Duke Energy Progress [Member] | Nuclear Deferral [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | 43,000,000 | 77,000,000 | 43,000,000 | ||
Duke Energy Progress [Member] | Maximum [Member] | Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory Noncurrent Asset, Amortization Period | 10 years | ||||
Duke Energy Progress [Member] | FERC Mitigation [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Impairment charges | -18,000,000 | ||||
Duke Energy Progress [Member] | Rate Case Step One [Member] | NCUC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 147,000,000 | ||||
Approved percentage rate increase by state commission | 4.50% | ||||
Duke Energy Progress [Member] | Rate Case Step Two [Member] | NCUC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 31,000,000 | ||||
Approved percentage rate increase by state commission | 1.00% | ||||
Duke Energy Progress [Member] | Rate Case [Member] | NCUC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 10.20% | ||||
Approved equity capital structure, percentage | 53.00% | ||||
Required shareholder contribution to low income customers or agencies. | 20,000,000 | ||||
Rate increase begin date | 1-Jun-13 | ||||
Duke Energy Progress [Member] | Rate Case [Member] | NCUC [Member] | Removal Costs Reduction Year One [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory liability, noncurrent | 20,000,000 | 20,000,000 | |||
Duke Energy Progress [Member] | Shearon Harris Nuclear Station [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Impairment charges | 22,000,000 | ||||
Regulatory assets, noncurrent | 48,000,000 | 48,000,000 | |||
Duke Energy Florida [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Restructuring Reserve | 17,000,000 | 24,000,000 | 17,000,000 | ||
Net property, plant and equipment | 9,955,000,000 | 9,611,000,000 | 9,955,000,000 | ||
Regulatory assets, current | 203,000,000 | 221,000,000 | 203,000,000 | ||
Capitalized interest | 1,000,000 | 3,000,000 | 18,000,000 | ||
Impairment charges | 2,000,000 | 358,000,000 | 146,000,000 | ||
Regulatory assets, noncurrent | 2,733,000,000 | 2,729,000,000 | 2,733,000,000 | ||
Regulatory liability, noncurrent | 547,000,000 | 618,000,000 | 547,000,000 | ||
Regulatory assets | 2,936,000,000 | 2,950,000,000 | 2,936,000,000 | ||
Capital expenditures | 699,000,000 | 915,000,000 | 809,000,000 | ||
Duke Energy Florida [Member] | Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory Noncurrent Asset, Amortization Period | 20 years | ||||
Regulatory assets | 1,393,000,000 | 1,378,000,000 | 1,393,000,000 | ||
Duke Energy Florida [Member] | Nuclear Deferral [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | 112,000,000 | 145,000,000 | 112,000,000 | ||
Duke Energy Florida [Member] | FPSC [Member] | Removal Costs [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Amount of reduction to carrying amount of regulatory liabilities | 114,000,000 | 178,000,000 | |||
Duke Energy Florida [Member] | FERC Transmission Rates [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 10.80% | ||||
Duke Energy Florida [Member] | FERC Complaint 1 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 9.02% | ||||
Duke Energy Florida [Member] | FERC Complaint 2 [Member] | Minimum [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 8.63% | ||||
Duke Energy Florida [Member] | FERC Complaint 2 [Member] | Maximum [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 8.84% | ||||
Duke Energy Florida [Member] | FERC Complaint 3 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 8.69% | ||||
Duke Energy Florida [Member] | 2013 FPSC Settlement Agreement [Member] | New Generation Needs [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 10.50% | ||||
Duke Energy Florida [Member] | 2013 FPSC Settlement Agreement [Member] | Minimum [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 9.50% | ||||
Duke Energy Florida [Member] | 2013 FPSC Settlement Agreement [Member] | Maximum [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 11.50% | ||||
Duke Energy Florida [Member] | 2012 FPSC Settlement Agreement [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets, current | 50,000,000 | 50,000,000 | |||
Approved rate increase amount by state commission | 150,000,000 | ||||
Customer Refund Liability, Current | 120,000,000 | 120,000,000 | |||
Total Customer Refunds To Be Paid | 388,000,000 | ||||
Regulatory liability, noncurrent | 70,000,000 | 70,000,000 | |||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Decommissioning cost study estimate | 1,180,000,000 | 1,180,000,000 | |||
Regulatory assets, current | 295,000,000 | 295,000,000 | |||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | 2013 FPSC Settlement Agreement [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Acceleration of cash recovery through fuel clause | 130,000,000 | ||||
Cost Cap for customers | 1,466,000,000 | 1,466,000,000 | |||
Approved return on equity percentage amount by state commission | 7.35% | ||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | 2013 FPSC Settlement Agreement [Member] | Amount Subject To Cost Cap [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets, noncurrent | 1,377,000,000 | 1,377,000,000 | |||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | 2013 FPSC Settlement Agreement [Member] | Uprate And ISFSI Projects [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets, noncurrent | 260,000,000 | 260,000,000 | |||
Duke Energy Florida [Member] | Levy Nuclear Station [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Restructuring Reserve | 25,000,000 | 25,000,000 | |||
Duke Energy Florida [Member] | Levy Nuclear Station [Member] | 2013 FPSC Settlement Agreement [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Net unrecovered investment | 180,000,000 | 180,000,000 | |||
Net property, plant and equipment | 91,000,000 | 91,000,000 | |||
Regulatory assets, current | 89,000,000 | 89,000,000 | |||
Impairment charges | 65,000,000 | ||||
Duke Energy Florida [Member] | Citrus County Station [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Estimated capital cost of new utility plant, including AFUDC | 1,500,000,000 | 1,500,000,000 | |||
Duke Energy Florida [Member] | Suwannee Station [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Estimated capital cost of new utility plant, including AFUDC | 197,000,000 | 197,000,000 | |||
Duke Energy Florida [Member] | Hines Energy Complex [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Estimated capital cost of new utility plant, including AFUDC | 160,000,000 | 160,000,000 | |||
Duke Energy Ohio [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Restructuring Reserve | 6,000,000 | 2,000,000 | 6,000,000 | ||
Net property, plant and equipment | 4,937,000,000 | 8,235,000,000 | 4,937,000,000 | ||
Regulatory assets, current | 49,000,000 | 57,000,000 | 49,000,000 | ||
Limit of Total Capital | 30.00% | 30.00% | |||
Capitalized interest | 10,000,000 | 11,000,000 | 13,000,000 | ||
Impairment charges | 94,000,000 | 5,000,000 | 2,000,000 | ||
Approved MVP Proposals | 17 | ||||
MISO estimate of Duke Energy Ohio's MVP obligation | 2,700,000,000 | ||||
Regulatory assets, noncurrent | 512,000,000 | 471,000,000 | 512,000,000 | ||
Regulatory liability, noncurrent | 241,000,000 | 262,000,000 | 241,000,000 | ||
Regulatory assets | 561,000,000 | 528,000,000 | 561,000,000 | ||
Capital expenditures | 322,000,000 | 434,000,000 | 514,000,000 | ||
Duke Energy Ohio [Member] | Capacity Rider Filing [Member] | PUCO [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Requested rate increase amount to state commission | 729,000,000 | ||||
Duke Energy Ohio [Member] | Electric Rate Case [Member] | PUCO [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 49,000,000 | ||||
Approved percentage rate increase by state commission | 2.90% | ||||
Approved return on equity percentage amount by state commission | 9.84% | ||||
Rate increase begin date | 1-May-13 | ||||
Duke Energy Ohio [Member] | Natural Gas Rate Case [Member] | PUCO [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 9.84% | ||||
Duke Energy Ohio [Member] | Mgp Remediation [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Required Bond Amount | 2,500,000 | 2,500,000 | |||
Duke Energy Ohio [Member] | Mgp Remediation [Member] | PUCO [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved rate increase amount by state commission | 56,000,000 | ||||
Regulatory assets | 115,000,000 | 115,000,000 | |||
Duke Energy Ohio [Member] | FERC Transmission Rates [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 12.38% | ||||
Percentage Recovered Through Future Rate Case | 30.00% | ||||
Duke Energy Ohio [Member] | FERC Complaint 1 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 11.38% | ||||
Duke Energy Ohio [Member] | W.C. Beckjord Station [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Gallons of Fuel Released | 9,000 | 9,000 | |||
Duke Energy Ohio [Member] | RTO Realignment [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Restructuring Reserve | 94,000,000 | 95,000,000 | 94,000,000 | ||
Regulatory assets | 74,000,000 | 74,000,000 | |||
Duke Energy Ohio [Member] | Dayton Power and Light [Member] | East Bend Station [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 31.00% | 31.00% | |||
Capital expenditures | 12,400,000 | ||||
Duke Energy Indiana [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Net property, plant and equipment | 8,815,000,000 | 8,576,000,000 | 8,815,000,000 | ||
Regulatory assets, current | 93,000,000 | 118,000,000 | 93,000,000 | ||
Capitalized interest | 6,000,000 | 9,000,000 | 39,000,000 | ||
Impairment charges | 0 | 0 | 579,000,000 | ||
Regulatory assets, noncurrent | 685,000,000 | 717,000,000 | 685,000,000 | ||
Regulatory liability, noncurrent | 796,000,000 | 782,000,000 | 796,000,000 | ||
Regulatory assets | 778,000,000 | 835,000,000 | 778,000,000 | ||
Capital expenditures | 625,000,000 | 545,000,000 | 718,000,000 | ||
Duke Energy Indiana [Member] | Retired Generation Facilities [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | 56,000,000 | 61,000,000 | 56,000,000 | ||
Duke Energy Indiana [Member] | FERC Transmission Rates [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 12.38% | ||||
Percentage Recovered Through Future Rate Case | 0.50% | ||||
Duke Energy Indiana [Member] | FERC Complaint 1 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 9.15% | ||||
Duke Energy Indiana [Member] | FERC Complaint 2 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Approved return on equity percentage amount by state commission | 8.67% | ||||
Duke Energy Indiana [Member] | Grid Infrastructure Improvement Plan [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Estimated capital cost | 1,900,000,000 | 1,900,000,000 | |||
Percentage Recovered Through Rider | 80.00% | ||||
Percentage Recovered Through Future Rate Case | 20.00% | ||||
Duke Energy Indiana [Member] | Edwardsport IGCC Plant [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Percent of AFUDC Allowed | 85.00% | ||||
Impairment charges | 631,000,000 | 897,000,000 | |||
Duke Energy Indiana [Member] | Edwardsport IGCC Plant [Member] | Edwardsport Event November 20, 2007 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Estimated capital cost of new utility plant, including AFUDC | 1,985,000,000 | 1,985,000,000 | |||
Duke Energy Indiana [Member] | Edwardsport IGCC Plant [Member] | Edwardsport Event December 27, 2012 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Estimated capital cost of new utility plant, including AFUDC | 2,595,000,000 | 2,595,000,000 | |||
Duke Energy Indiana [Member] | Edwardsport IGCC Plant [Member] | Edwardsport Event September 8, 2014 [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Capitalized interest | 61,000,000 | ||||
Dominion Resources [Member] | Atlantic Coast Pipeline [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Joint owner ownership percentage | 45.00% | 45.00% | |||
Scenario, Forecast [Member] | Duke Energy Florida [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Payments to Acquire Businesses, Gross | $166,000,000 |
Regulatory_Matters_Schedule_of
Regulatory Matters (Schedule of Regulatory Assets and Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | $12,157 | $10,086 |
Regulatory assets - current | 1,115 | 895 |
Regulatory assets, noncurrent | 11,042 | 9,191 |
Regulatory liabilities | 6,397 | 6,265 |
Regulatory liabilities - current | 204 | 316 |
Regulatory liabilities - noncurrent | 6,193 | 5,949 |
Removal Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 5,221 | 5,308 |
Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 166 | 151 |
Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 150 | 145 |
Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 379 | 138 |
Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 37 | 177 |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 444 | 346 |
Asset Retirement Obligations Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 3,017 | 1,608 |
Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,015 | 1,723 |
Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,659 | 1,748 |
Debt Fair Value Adjustment [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,305 | 1,338 |
Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,144 | 1,115 |
Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 628 | 450 |
Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 330 | 306 |
Grid Modernization [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 76 | 65 |
Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 213 | 210 |
Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 246 | 94 |
Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 296 | 262 |
Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 494 | 459 |
Gasification Services Agreement Buyout Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 55 | 75 |
Transmission Expansion Obligation [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 70 | 70 |
Manufactured Gas Plant Environmental Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 115 | 90 |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 494 | 473 |
Duke Energy Carolinas [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,864 | 1,822 |
Regulatory assets - current | 399 | 295 |
Regulatory assets, noncurrent | 2,465 | 1,527 |
Regulatory liabilities | 2,744 | 2,641 |
Regulatory liabilities - current | 34 | 65 |
Regulatory liabilities - noncurrent | 2,710 | 2,576 |
Duke Energy Carolinas [Member] | Removal Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 2,420 | 2,423 |
Duke Energy Carolinas [Member] | Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 25 | 20 |
Duke Energy Carolinas [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 76 | |
Duke Energy Carolinas [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 6 | 45 |
Duke Energy Carolinas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 217 | 153 |
Duke Energy Carolinas [Member] | Asset Retirement Obligations Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 907 | 123 |
Duke Energy Carolinas [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 412 | 347 |
Duke Energy Carolinas [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 58 | 68 |
Duke Energy Carolinas [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 614 | 555 |
Duke Energy Carolinas [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 103 | 98 |
Duke Energy Carolinas [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 106 | 140 |
Duke Energy Carolinas [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 86 | 82 |
Duke Energy Carolinas [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 50 | |
Duke Energy Carolinas [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 141 | 40 |
Duke Energy Carolinas [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 124 | 150 |
Duke Energy Carolinas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 263 | 219 |
Progress Energy [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 5,899 | 4,508 |
Regulatory assets - current | 491 | 353 |
Regulatory assets, noncurrent | 5,408 | 4,155 |
Regulatory liabilities | 2,485 | 2,499 |
Regulatory liabilities - current | 106 | 207 |
Regulatory liabilities - noncurrent | 2,379 | 2,292 |
Progress Energy [Member] | Removal Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 1,975 | 2,008 |
Progress Energy [Member] | Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 70 | 120 |
Progress Energy [Member] | Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 125 | 125 |
Progress Energy [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 121 | |
Progress Energy [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 23 | 132 |
Progress Energy [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 171 | 114 |
Progress Energy [Member] | Asset Retirement Obligations Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,882 | 786 |
Progress Energy [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 812 | 750 |
Progress Energy [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,545 | 1,619 |
Progress Energy [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 354 | 331 |
Progress Energy [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 490 | 318 |
Progress Energy [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 203 | 152 |
Progress Energy [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 46 | 55 |
Progress Energy [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 182 | 37 |
Progress Energy [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 155 | 222 |
Progress Energy [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 121 | 137 |
Progress Energy [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 109 | 101 |
Duke Energy Progress [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,962 | 1,511 |
Regulatory assets - current | 287 | 127 |
Regulatory assets, noncurrent | 2,675 | 1,384 |
Regulatory liabilities | 1,903 | 1,736 |
Regulatory liabilities - current | 71 | 63 |
Regulatory liabilities - noncurrent | 1,832 | 1,673 |
Duke Energy Progress [Member] | Removal Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 1,692 | 1,637 |
Duke Energy Progress [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 61 | |
Duke Energy Progress [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 23 | |
Duke Energy Progress [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 127 | 99 |
Duke Energy Progress [Member] | Asset Retirement Obligations Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,584 | 389 |
Duke Energy Progress [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 354 | 269 |
Duke Energy Progress [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 152 | 241 |
Duke Energy Progress [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 141 | 113 |
Duke Energy Progress [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 217 | 165 |
Duke Energy Progress [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 193 | 140 |
Duke Energy Progress [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 46 | 50 |
Duke Energy Progress [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 138 | 6 |
Duke Energy Progress [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 43 | 77 |
Duke Energy Progress [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 28 | 19 |
Duke Energy Progress [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 66 | 42 |
Duke Energy Florida [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 2,936 | 2,950 |
Regulatory assets - current | 203 | 221 |
Regulatory assets, noncurrent | 2,733 | 2,729 |
Regulatory liabilities | 582 | 762 |
Regulatory liabilities - current | 35 | 144 |
Regulatory liabilities - noncurrent | 547 | 618 |
Duke Energy Florida [Member] | Removal Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 283 | 371 |
Duke Energy Florida [Member] | Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 70 | 120 |
Duke Energy Florida [Member] | Storm Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 125 | 125 |
Duke Energy Florida [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 60 | |
Duke Energy Florida [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 132 | |
Duke Energy Florida [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 44 | 14 |
Duke Energy Florida [Member] | Asset Retirement Obligations Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 298 | 397 |
Duke Energy Florida [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 458 | 438 |
Duke Energy Florida [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 1,393 | 1,378 |
Duke Energy Florida [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 213 | 218 |
Duke Energy Florida [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 273 | 153 |
Duke Energy Florida [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 10 | 12 |
Duke Energy Florida [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 44 | 31 |
Duke Energy Florida [Member] | Nuclear Deferral [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 112 | 145 |
Duke Energy Florida [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 93 | 118 |
Duke Energy Florida [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 42 | 60 |
Duke Energy Ohio [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 561 | 528 |
Regulatory assets - current | 49 | 57 |
Regulatory assets, noncurrent | 512 | 471 |
Regulatory liabilities | 251 | 289 |
Regulatory liabilities - current | 10 | 27 |
Regulatory liabilities - noncurrent | 241 | 262 |
Duke Energy Ohio [Member] | Removal Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 222 | 241 |
Duke Energy Ohio [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 19 | 21 |
Duke Energy Ohio [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 10 | 27 |
Duke Energy Ohio [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 132 | 120 |
Duke Energy Ohio [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 64 | 72 |
Duke Energy Ohio [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 7 | 5 |
Duke Energy Ohio [Member] | Demand Side Management And Energy Efficiency [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 21 | 14 |
Duke Energy Ohio [Member] | Grid Modernization [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 76 | 65 |
Duke Energy Ohio [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 6 | 7 |
Duke Energy Ohio [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 9 | 14 |
Duke Energy Ohio [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 21 | 21 |
Duke Energy Ohio [Member] | Transmission Expansion Obligation [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 74 | 74 |
Duke Energy Ohio [Member] | Manufactured Gas Plant Environmental Reserve [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 115 | 90 |
Duke Energy Ohio [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 36 | 46 |
Duke Energy Indiana [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 778 | 835 |
Regulatory assets - current | 93 | 118 |
Regulatory assets, noncurrent | 685 | 717 |
Regulatory liabilities | 850 | 798 |
Regulatory liabilities - current | 54 | 16 |
Regulatory liabilities - noncurrent | 796 | 782 |
Duke Energy Indiana [Member] | Removal Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 613 | 645 |
Duke Energy Indiana [Member] | Amounts To Be Refunded to Customers [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 96 | 31 |
Duke Energy Indiana [Member] | Accrued Pension And Other Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 91 | 77 |
Duke Energy Indiana [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 8 | |
Duke Energy Indiana [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory liabilities | 42 | 45 |
Duke Energy Indiana [Member] | Accrued Pension And Post Retirement [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 217 | 219 |
Duke Energy Indiana [Member] | Retired Generation Facilities [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 56 | 61 |
Duke Energy Indiana [Member] | Net Regulatory Asset Related To Income Taxes [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 111 | 157 |
Duke Energy Indiana [Member] | Hedge Cost and Other Deferrals [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 28 | 29 |
Duke Energy Indiana [Member] | Vacation Accrual [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 12 | 13 |
Duke Energy Indiana [Member] | Deferred Fuel [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 5 | 43 |
Duke Energy Indiana [Member] | Post-In-Service Carrying Costs And Deferred Operating Expense [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 228 | 151 |
Duke Energy Indiana [Member] | Gasification Services Agreement Buyout Costs [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | 55 | 75 |
Duke Energy Indiana [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets Liabilities [Line Items] | ||
Regulatory assets | $66 | $87 |
Regulatory_Matters_Schedule_of1
Regulatory Matters (Schedule of MISO Exit fees)(Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Restructuring Reserve [Roll Forward] | ||
Balance, beginning of period | $64 | |
Provision/adjustments | 5 | |
Cash reductions | -41 | |
Balance, end of period | 28 | |
Total regulatory assets | 12,157 | 10,086 |
Duke Energy Ohio [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Balance, beginning of period | 2 | |
Provision/adjustments | 5 | |
Cash reductions | -1 | |
Balance, end of period | 6 | |
Total regulatory assets | 561 | 528 |
Duke Energy Ohio [Member] | RTO Realignment [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Balance, beginning of period | 95 | |
Provision/adjustments | 3 | |
Cash reductions | -4 | |
Balance, end of period | 94 | |
Total regulatory assets | $74 |
Regulatory_Matters_Schedule_of2
Regulatory Matters (Schedule of Net Carrying Value Of Facilities As Well As the Remaining Non-current Regulatory Assets) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
MW | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | $70,046 | $69,490 |
Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Megawatt of potential plants to be retired, in megawatts | 1,704 | |
Net property, plant and equipment | 239 | |
Duke Energy Carolinas [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 24,672 | 23,012 |
Progress Energy [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 25,144 | 23,382 |
Progress Energy [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Megawatt of potential plants to be retired, in megawatts | 873 | |
Net property, plant and equipment | 114 | |
Duke Energy Progress [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 15,186 | 13,650 |
Duke Energy Florida [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 9,955 | 9,611 |
Duke Energy Florida [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Megawatt of potential plants to be retired, in megawatts | 873 | |
Net property, plant and equipment | 114 | |
Duke Energy Ohio [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 4,937 | 8,235 |
Duke Energy Ohio [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Megawatt of potential plants to be retired, in megawatts | 163 | |
Net property, plant and equipment | 9 | |
Duke Energy Indiana [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net property, plant and equipment | 8,815 | 8,576 |
Duke Energy Indiana [Member] | Generation Facilities To Be Retired [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Megawatt of potential plants to be retired, in megawatts | 668 | |
Net property, plant and equipment | $116 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 24 Months Ended | 0 Months Ended | 1 Months Ended | |||||
Dec. 31, 2014 | Aug. 10, 2011 | Aug. 09, 2011 | Dec. 31, 2000 | Oct. 03, 2012 | Dec. 31, 2009 | Feb. 08, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2015 | |
reactor | gal | |||||||||
T | ||||||||||
Insurance [Abstract] | ||||||||||
Insured public liability limit per nuclear incident | $13,600,000,000 | |||||||||
Primary nuclear liability program coverage | 375,000,000 | |||||||||
Excess nuclear liability program coverage | 13,200,000,000 | |||||||||
Pro rata assessment for each reactor owned for each incident exceeding public liability insurance | 127,000,000 | |||||||||
Number of licensed nuclear reactors | 104 | |||||||||
Annual payment limit to pro rata assessments | 19,000,000 | |||||||||
Industry aggregate limit | 3,200,000,000 | |||||||||
Sublimit for non-nuclear terrorist events | 1,830,000,000 | |||||||||
Sublimit property damage losses | 1,500,000,000 | |||||||||
Additional nuclear accident limit | 1,250,000,000 | |||||||||
Insurance Coverage Percentage Initial Weeks | 100.00% | |||||||||
Accidental Outage Insurance Coverage Initial Weeks | 365 days | |||||||||
Insurance Coverage Percentage Additional Weeks | 80.00% | |||||||||
Accidental Outage Insurance Coverage Additional Weeks | 770 days | |||||||||
Sublimit accidental outage recovery | 328,000,000 | |||||||||
Maximum Magnitude of Retroactive Premiums | 10 | |||||||||
Maximum Period for Retroactive Premium Assessment | 6 years | |||||||||
Weeks of Sublimits for Accidental Outage Coverage | 728 days | |||||||||
Excess Property Insurance Max Retroactive Assessments | 17,000,000 | |||||||||
Potential Obligation percentage | 100.00% | |||||||||
North Carolina Ash Basins [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Facilities with Ash Basins | 14 | |||||||||
Ash Basins Fines and Restitution [Member] | USDOJ [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Litigation Settlement, Expense | 68,000,000 | |||||||||
Ash Basins Community Service and Mitigation [Member] | USDOJ [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Litigation Settlement, Expense | 34,000,000 | |||||||||
Brazil Expansion Lawsuit [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Obligation to expand installed generation capacity, percent | 15.00% | 15.00% | ||||||||
Environmental Reserves [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, range of possible loss, portion not acccrued | 89,000,000 | |||||||||
Duke Energy Carolinas [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Maximum potentional retroactive premium assessments for primary property insurance | 73,000,000 | |||||||||
Maximum potentional retroactive premium assessments for accidental outage insurance | 32,000,000 | |||||||||
Duke Energy Carolinas [Member] | McGuire Nuclear Station [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Accidental outage insurance coverage policy limit | 490,000,000 | |||||||||
Duke Energy Carolinas [Member] | Oconee Nuclear Station [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Additional Non Nuclear Accident Limit | 750,000,000 | |||||||||
Accidental outage insurance coverage policy limit | 381,000,000 | |||||||||
Duke Energy Carolinas [Member] | Catawba Nuclear Station [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Additional nuclear accident limit | 1,250,000,000 | |||||||||
Additional Non Nuclear Accident Limit | 750,000,000 | |||||||||
Accidental outage insurance coverage policy limit | 490,000,000 | |||||||||
Excess Property Insurance Max Retroactive Assessments | 7,000,000 | |||||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Dan River [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Environmental Remediation Expense | 24,000,000 | |||||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Dan River [Member] | Minimum [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Estimated amount of ash released, in tons | 30,000 | |||||||||
Estimated amount of ash basin water released, in gallons | 24,000,000 | |||||||||
Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | Dan River [Member] | Maximum [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Estimated amount of ash released, in tons | 39,000 | |||||||||
Estimated amount of ash basin water released, in gallons | 27,000,000 | |||||||||
Duke Energy Carolinas [Member] | New Source Review Provisions Of Clean Air Act [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Maximum civil penalties per day for each violation | 37,500 | |||||||||
Projects with Alleged NSR Violations | 29 | |||||||||
Number of Coal Plants with Alleged NSR Violations | 25 | |||||||||
Loss contingency, pending claims, number | 13 | |||||||||
Remaining Number of Coal Plants with Alleged NSR Violations | 13 | |||||||||
Number of Coal Plants | 11 | |||||||||
Duke Energy Carolinas [Member] | Asbestos Issue [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Asbestos-related injuries and damages reserves | 575,000,000 | 616,000,000 | ||||||||
Reinsurance retention policy, amount retained | 476,000,000 | |||||||||
Reinsurance retention policy, excess retention, amount reinsured | 864,000,000 | |||||||||
Probable insurance recoveries | 616,000,000 | 649,000,000 | ||||||||
Duke Energy Carolinas [Member] | Asbestos Issue [Member] | Malignant Asbestos Claim [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, pending claims, number | 28 | |||||||||
Asbestos-related injuries and damages reserves | 7,000,000 | |||||||||
Duke Energy Carolinas [Member] | Asbestos Issue [Member] | Non Malignant Asbestos Claim [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, pending claims, number | 54 | |||||||||
Asbestos-related injuries and damages reserves | 11,000,000 | |||||||||
Duke Energy Carolinas [Member] | Environmental Reserves [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, range of possible loss, portion not acccrued | 25,000,000 | |||||||||
Progress Energy [Member] | Synthetic Fuels [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, damages paid, value | 154,000,000 | |||||||||
Damages awarded to plaintiff | 90,000,000 | |||||||||
Gain recognized in period | 63,000,000 | |||||||||
Progress Energy [Member] | Environmental Reserves [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, range of possible loss, portion not acccrued | 15,000,000 | |||||||||
Duke Energy Progress [Member] | ||||||||||
Commitments And Contingencies [Line Items] | ||||||||||
Long-term contract for purchase of electric power, share of plant output being purchased | 100.00% | |||||||||
Insurance [Abstract] | ||||||||||
Maximum potentional retroactive premium assessments for primary property insurance | 60,000,000 | |||||||||
Maximum potentional retroactive premium assessments for accidental outage insurance | 16,000,000 | |||||||||
Duke Energy Progress [Member] | Robinson Nuclear Station [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Accidental outage insurance coverage policy limit | 329,000,000 | |||||||||
Duke Energy Progress [Member] | Brunswick Nuclear Station [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Accidental outage insurance coverage policy limit | 419,000,000 | |||||||||
Duke Energy Progress [Member] | Shearon Harris Nuclear Station [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Accidental outage insurance coverage policy limit | 384,000,000 | |||||||||
Duke Energy Progress [Member] | Spent Nuclear Fuels [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Gain related to litigation settlement | 83,000,000 | |||||||||
Duke Energy Progress [Member] | Environmental Reserves [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, range of possible loss, portion not acccrued | 1,000,000 | |||||||||
Duke Energy Florida [Member] | ||||||||||
Commitments And Contingencies [Line Items] | ||||||||||
Long-term contract for purchase of electric power, share of plant output being purchased | 100.00% | |||||||||
Insurance [Abstract] | ||||||||||
Maximum potentional retroactive premium assessments for primary property insurance | 8,000,000 | |||||||||
Duke Energy Florida [Member] | Crystal River Unit 3 [Member] | ||||||||||
Insurance [Abstract] | ||||||||||
Sublimit property damage losses | 1,100,000,000 | |||||||||
Duke Energy Florida [Member] | Spent Nuclear Fuels [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Gain related to litigation settlement | 21,000,000 | |||||||||
Duke Energy Florida [Member] | Environmental Reserves [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, range of possible loss, portion not acccrued | 14,000,000 | |||||||||
Duke Energy Florida [Member] | Westinghouse Electric Company Litigation [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, damages sought, value | 510,000,000 | |||||||||
Gain contingency, unrecorded amount | 54,000,000 | |||||||||
Duke Energy Ohio [Member] | Environmental Reserves [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, range of possible loss, portion not acccrued | 42,000,000 | |||||||||
Duke Energy Indiana [Member] | Environmental Reserves [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Loss contingency, range of possible loss, portion not acccrued | 7,000,000 | |||||||||
Operating Expense [Member] | Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Litigation Settlement, Expense | 72,000,000 | |||||||||
Operating Expense [Member] | Duke Energy Progress [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Litigation Settlement, Expense | 30,000,000 | |||||||||
Subsequent Event [Member] | Duke Energy Carolinas [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Minimum Master Credit Facility Balance Required | 250,000,000 | |||||||||
Subsequent Event [Member] | Duke Energy Progress [Member] | North Carolina Ash Basins [Member] | USDOJ [Member] | ||||||||||
Valuation and Qualifying Accounts [Abstract] | ||||||||||
Minimum Master Credit Facility Balance Required | $250,000,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Reserves) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Environmental Matters Details [Line Items] | ||
Reserves for legal matters | $323 | $204 |
Duke Energy Carolinas [Member] | ||
Environmental Matters Details [Line Items] | ||
Reserves for legal matters | 72 | |
Progress Energy [Member] | ||
Environmental Matters Details [Line Items] | ||
Reserves for legal matters | 93 | 78 |
Duke Energy Progress [Member] | ||
Environmental Matters Details [Line Items] | ||
Reserves for legal matters | 37 | 10 |
Duke Energy Florida [Member] | ||
Environmental Matters Details [Line Items] | ||
Reserves for legal matters | $36 | $43 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Schedule of Environmental Loss Contingencies)(Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | $79 | $75 | $61 |
Provision/adjustments | 32 | 26 | 39 |
Cash reductions | -14 | -22 | -25 |
Ending balance | 97 | 79 | 75 |
Duke Energy Carolinas [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 11 | 12 | 12 |
Provision/adjustments | -1 | 1 | |
Cash reductions | -1 | -1 | |
Ending balance | 10 | 11 | 12 |
Progress Energy [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 27 | 33 | 23 |
Provision/adjustments | 1 | 4 | 19 |
Cash reductions | -11 | -10 | -9 |
Ending balance | 17 | 27 | 33 |
Duke Energy Progress [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 8 | 14 | 11 |
Provision/adjustments | 4 | -1 | 5 |
Cash reductions | -7 | -5 | -2 |
Ending balance | 5 | 8 | 14 |
Duke Energy Florida [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 19 | 19 | 12 |
Provision/adjustments | -3 | 5 | 14 |
Cash reductions | -4 | -5 | -7 |
Ending balance | 12 | 19 | 19 |
Duke Energy Ohio [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 27 | 15 | 28 |
Provision/adjustments | 28 | 20 | 5 |
Cash reductions | -1 | -8 | -18 |
Ending balance | 54 | 27 | 15 |
Duke Energy Indiana [Member] | |||
Accrual for Environmental Loss Contingencies [Roll Forward] | |||
Beginning balance | 7 | 8 | 9 |
Provision/adjustments | 4 | 1 | 3 |
Cash reductions | -1 | -2 | -4 |
Ending balance | $10 | $7 | $8 |
Commitments_and_Contingencies_4
Commitments and Contingencies (PurchPower)(Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Duke Energy Progress [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, share of plant output being purchased | 100.00% |
Duke Energy Progress [Member] | Public Utilities Purchased Power [Member] | |
Unconditional Purchase Obligations [Abstract] | |
2015 | 59 |
2016 | 60 |
2017 | 61 |
2018 | 62 |
2019 | 63 |
Thereafter | 93 |
Total | 398 |
Duke Energy Progress [Member] | Minimum [Member] | Public Utilities Purchased Power [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2019 |
Duke Energy Progress [Member] | Maximum [Member] | Public Utilities Purchased Power [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2022 |
Duke Energy Florida [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, share of plant output being purchased | 100.00% |
Duke Energy Florida [Member] | Public Utilities Purchased Power [Member] | |
Unconditional Purchase Obligations [Abstract] | |
2015 | 244 |
2016 | 273 |
2017 | 291 |
2018 | 306 |
2019 | 322 |
Thereafter | 1,907 |
Total | 3,343 |
Duke Energy Florida [Member] | Minimum [Member] | Public Utilities Purchased Power [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2023 |
Duke Energy Florida [Member] | Maximum [Member] | Public Utilities Purchased Power [Member] | |
Unconditional Purchase Obligations [Abstract] | |
Long-term contract for purchase of electric power, date of contract expiration | 2043 |
Commitments_and_Contingencies_5
Commitments and Contingencies (Future Minimum Payments for Operating and Capital Leases) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Leased Assets | |||
Rental expense on operating leases | $355 | $321 | $232 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 205 | ||
2016 | 198 | ||
2017 | 172 | ||
2018 | 157 | ||
2019 | 148 | ||
Thereafter | 938 | ||
Total future minimum lease payments | 1,818 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 178 | ||
2016 | 188 | ||
2017 | 190 | ||
2018 | 198 | ||
2019 | 208 | ||
Thereafter | 1,771 | ||
Minimum annual payments | 2,733 | ||
Less amount representing interest | -1,305 | ||
Total | 1,428 | ||
Duke Energy Carolinas [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 41 | 39 | 38 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 33 | ||
2016 | 29 | ||
2017 | 26 | ||
2018 | 20 | ||
2019 | 17 | ||
Thereafter | 64 | ||
Total future minimum lease payments | 189 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 6 | ||
2016 | 6 | ||
2017 | 7 | ||
2018 | 7 | ||
2019 | 8 | ||
Thereafter | 60 | ||
Minimum annual payments | 94 | ||
Less amount representing interest | -67 | ||
Total | 27 | ||
Progress Energy [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 257 | 225 | 232 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 129 | ||
2016 | 130 | ||
2017 | 111 | ||
2018 | 109 | ||
2019 | 103 | ||
Thereafter | 709 | ||
Total future minimum lease payments | 1,291 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 46 | ||
2016 | 47 | ||
2017 | 47 | ||
2018 | 48 | ||
2019 | 51 | ||
Thereafter | 678 | ||
Minimum annual payments | 917 | ||
Less amount representing interest | -603 | ||
Total | 314 | ||
Duke Energy Progress [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 161 | 153 | 164 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 65 | ||
2016 | 66 | ||
2017 | 65 | ||
2018 | 64 | ||
2019 | 58 | ||
Thereafter | 421 | ||
Total future minimum lease payments | 739 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 21 | ||
2016 | 21 | ||
2017 | 21 | ||
2018 | 22 | ||
2019 | 25 | ||
Thereafter | 398 | ||
Minimum annual payments | 508 | ||
Less amount representing interest | -361 | ||
Total | 147 | ||
Duke Energy Florida [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 96 | 72 | 68 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 64 | ||
2016 | 64 | ||
2017 | 46 | ||
2018 | 45 | ||
2019 | 45 | ||
Thereafter | 288 | ||
Total future minimum lease payments | 552 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 26 | ||
2016 | 26 | ||
2017 | 26 | ||
2018 | 26 | ||
2019 | 26 | ||
Thereafter | 280 | ||
Minimum annual payments | 410 | ||
Less amount representing interest | -242 | ||
Total | 168 | ||
Duke Energy Ohio [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 17 | 14 | 14 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 12 | ||
2016 | 11 | ||
2017 | 9 | ||
2018 | 7 | ||
2019 | 6 | ||
Thereafter | 18 | ||
Total future minimum lease payments | 63 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 7 | ||
2016 | 7 | ||
2017 | 3 | ||
2018 | 4 | ||
2019 | 2 | ||
Minimum annual payments | 23 | ||
Less amount representing interest | -3 | ||
Total | 20 | ||
Duke Energy Indiana [Member] | |||
Operating Leased Assets | |||
Rental expense on operating leases | 21 | 22 | 20 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 17 | ||
2016 | 15 | ||
2017 | 13 | ||
2018 | 10 | ||
2019 | 9 | ||
Thereafter | 9 | ||
Total future minimum lease payments | 73 | ||
Capital Leases, Future Minimum Payments Due [Abstract] | |||
2015 | 4 | ||
2016 | 4 | ||
2017 | 2 | ||
2018 | 2 | ||
2019 | 2 | ||
Thereafter | 42 | ||
Minimum annual payments | 56 | ||
Less amount representing interest | -39 | ||
Total | $17 |
Debt_and_Credit_Facilities_Nar
Debt and Credit Facilities (Narrative) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Jan. 31, 2015 | Mar. 31, 2015 | |
Other Debt Matters [Abstract] | ||||
Subsidiary debt guaranteed by parent | $767,000,000 | $811,000,000 | ||
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 | 968,000,000 | 836,000,000 | ||
Other Loans [Abstract] | ||||
Other loans outstanding against cash surrender value of life insurance policies | 603,000,000 | 571,000,000 | ||
Restrictive Debt Covenants [Abstract] | ||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||
Line of Credit Facility [Abstract] | ||||
Facility size | 6,000,000,000 | |||
Line of Credit Facility, Affiliated Borrower | The Duke Energy Registrants, excluding Progress Energy, each have borrowing capacity under the Master Credit Facility up to specified sublimits for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. | |||
Subsequent Event [Member] | ||||
Line of Credit Facility [Abstract] | ||||
Facility size | 7,500,000,000 | |||
Duke Energy Carolinas [Member] | ||||
Restrictive Debt Covenants [Abstract] | ||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||
Progress Energy [Member] | ||||
Restrictive Debt Covenants [Abstract] | ||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||
Duke Energy Progress [Member] | ||||
Other Loans [Abstract] | ||||
Other loans outstanding against cash surrender value of life insurance policies | 44,000,000 | 48,000,000 | ||
Restrictive Debt Covenants [Abstract] | ||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||
Duke Energy Florida [Member] | ||||
Restrictive Debt Covenants [Abstract] | ||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||
Duke Energy Ohio [Member] | ||||
Restrictive Debt Covenants [Abstract] | ||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||
Duke Energy Indiana [Member] | ||||
Restrictive Debt Covenants [Abstract] | ||||
Debt to total capitalization percentage, for each borrower | 0.65 | |||
USDOJ [Member] | Duke Energy Carolinas [Member] | Subsequent Event [Member] | North Carolina Ash Basins [Member] | ||||
Debt Instrument [Line Items] | ||||
Minimum Master Credit Facility Balance Required | 250,000,000 | |||
USDOJ [Member] | Duke Energy Progress [Member] | Subsequent Event [Member] | North Carolina Ash Basins [Member] | ||||
Debt Instrument [Line Items] | ||||
Minimum Master Credit Facility Balance Required | 250,000,000 | |||
Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Commercial Paper | -2,021,000,000 | |||
Line of Credit Facility [Abstract] | ||||
Facility size | 6,000,000,000 | |||
Revolving Credit Facility [Member] | Duke Energy Carolinas [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Commercial Paper | -300,000,000 | |||
Line of Credit Facility [Abstract] | ||||
Facility size | 1,000,000,000 | |||
Revolving Credit Facility [Member] | Duke Energy Progress [Member] | ||||
Line of Credit Facility [Abstract] | ||||
Facility size | 750,000,000 | |||
Revolving Credit Facility [Member] | Duke Energy Florida [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Commercial Paper | -29,000,000 | |||
Line of Credit Facility [Abstract] | ||||
Facility size | 650,000,000 | |||
Revolving Credit Facility [Member] | Duke Energy Ohio [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Commercial Paper | -38,000,000 | |||
Line of Credit Facility [Abstract] | ||||
Facility size | 650,000,000 | |||
Revolving Credit Facility [Member] | Duke Energy Indiana [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Commercial Paper | -175,000,000 | |||
Line of Credit Facility [Abstract] | ||||
Facility size | 700,000,000 | |||
Proceeds Loaned To Subsidiary Registrants [Member] | Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Commercial Paper | ($475,000,000) |
Debt_and_Credit_Facilities_Sum
Debt and Credit Facilities (Summary of Debt and Related Terms) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ||
Unsecured Debt | 12,937 | 13,550 |
Secured Debt | 2,806 | 2,559 |
First mortgage bonds | 19,180 | 17,831 |
Capital leases | 1,428 | 1,516 |
Other debt | 8 | |
Tax exempt bonds | 1,296 | 2,356 |
Notes Payable And Commercial Paper | 2,989 | 1,289 |
Fair value hedge carrying value adjustment | 8 | 9 |
Unamortized debt discount and premium, net | 1,890 | 1,977 |
Total debt | 42,534 | 41,095 |
Short-term notes payable and commercial paper | -2,514 | -839 |
Current maturities of long-term debt | -2,807 | -2,104 |
Total long-term debt | 37,213 | 38,152 |
Short term obligations classified as long-term debt | 1,022 | 1,121 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 4.92% | 5.18% |
Debt maturity date, start | 31-Dec-15 | 31-Dec-14 |
Debt maturity date, end | 31-Dec-73 | 31-Dec-39 |
Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 2.50% | 2.69% |
Debt maturity date, start | 31-Dec-16 | 31-Dec-14 |
Debt maturity date, end | 31-Dec-37 | 31-Dec-37 |
First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 4.76% | 4.90% |
Debt maturity date, start | 31-Dec-15 | 31-Dec-15 |
Debt maturity date, end | 31-Dec-44 | 31-Dec-43 |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 5.30% | 5.23% |
Debt maturity date, start | 31-Dec-15 | 31-Dec-14 |
Debt maturity date, end | 31-Dec-51 | 31-Dec-51 |
Other Debt [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 4.77% | |
Debt maturity date, end | 31-Dec-27 | |
Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 2.13% | 1.28% |
Debt maturity date, start | 31-Dec-15 | 31-Dec-14 |
Debt maturity date, end | 31-Dec-41 | 31-Dec-41 |
Short term obligations classified as long-term debt | 347 | 471 |
Notes Payable And Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 0.70% | 1.02% |
Weighted-average days to maturity | 27 days | 49 days |
Short term obligations classified as long-term debt | 475 | 450 |
Revolving Loan [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 200 | 200 |
Purchase Accounting Adjustments [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized debt discount and premium, net | 1,975 | 2,067 |
Total Debt [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 4.29% | 4.52% |
Long-term Debt [Member] | ||
Debt Instrument [Line Items] | ||
Weighted-average rate | 4.58% | 4.59% |
Duke Energy Carolinas [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 1,155 | 1,157 |
Secured Debt | 400 | 400 |
First mortgage bonds | 6,161 | 6,161 |
Capital leases | 27 | 30 |
Tax exempt bonds | 355 | 395 |
Money pool borrowings | 300 | 300 |
Fair value hedge carrying value adjustment | 8 | 9 |
Unamortized debt discount and premium, net | -15 | -16 |
Total debt | 8,391 | 8,436 |
Current maturities of long-term debt | -507 | -47 |
Total long-term debt | 7,884 | 8,389 |
Short term obligations classified as long-term debt | 335 | 375 |
Duke Energy Carolinas [Member] | Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 35 | 75 |
Duke Energy Carolinas [Member] | Notes Payable And Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 300 | 300 |
Progress Energy [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 3,850 | 4,150 |
Secured Debt | 525 | 305 |
First mortgage bonds | 9,800 | 8,450 |
Capital leases | 314 | 327 |
Tax exempt bonds | 291 | 910 |
Money pool borrowings | 835 | 1,213 |
Unamortized debt discount and premium, net | -26 | -27 |
Total debt | 15,589 | 15,328 |
Short-term money pool borrowings | -835 | -1,213 |
Current maturities of long-term debt | -1,507 | -485 |
Total long-term debt | 13,247 | 13,630 |
Duke Energy Progress [Member] | ||
Debt Instrument [Line Items] | ||
Secured Debt | 300 | 305 |
First mortgage bonds | 5,475 | 4,125 |
Capital leases | 146 | 148 |
Tax exempt bonds | 291 | 669 |
Money pool borrowings | 462 | |
Unamortized debt discount and premium, net | -11 | -12 |
Total debt | 6,201 | 5,697 |
Short-term money pool borrowings | -462 | |
Current maturities of long-term debt | -945 | -174 |
Total long-term debt | 5,256 | 5,061 |
Duke Energy Progress [Member] | Purchase Accounting Adjustments [Member] | ||
Debt Instrument [Line Items] | ||
Capital leases | 129 | 144 |
Duke Energy Florida [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 150 | 150 |
Secured Debt | 225 | |
First mortgage bonds | 4,325 | 4,325 |
Capital leases | 168 | 179 |
Tax exempt bonds | 241 | |
Money pool borrowings | 84 | 181 |
Unamortized debt discount and premium, net | -8 | -9 |
Total debt | 4,944 | 5,067 |
Short-term money pool borrowings | -84 | -181 |
Current maturities of long-term debt | -562 | -11 |
Total long-term debt | 4,298 | 4,875 |
Duke Energy Florida [Member] | Purchase Accounting Adjustments [Member] | ||
Debt Instrument [Line Items] | ||
Capital leases | 787 | 838 |
Duke Energy Ohio [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 773 | 805 |
First mortgage bonds | 900 | 900 |
Capital leases | 20 | 27 |
Other debt | 8 | |
Tax exempt bonds | 77 | 479 |
Money pool borrowings | 516 | 43 |
Unamortized debt discount and premium, net | -29 | -31 |
Total debt | 2,257 | 2,231 |
Short-term money pool borrowings | -491 | -43 |
Current maturities of long-term debt | -157 | -47 |
Total long-term debt | 1,609 | 2,141 |
Short term obligations classified as long-term debt | 52 | 111 |
Duke Energy Ohio [Member] | Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 27 | 111 |
Duke Energy Ohio [Member] | Notes Payable And Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 25 | |
Duke Energy Indiana [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured Debt | 742 | 744 |
First mortgage bonds | 2,319 | 2,319 |
Capital leases | 16 | 20 |
Tax exempt bonds | 573 | 573 |
Money pool borrowings | 221 | 150 |
Unamortized debt discount and premium, net | -9 | -10 |
Total debt | 3,862 | 3,796 |
Short-term money pool borrowings | -71 | |
Current maturities of long-term debt | -5 | -5 |
Total long-term debt | 3,786 | 3,791 |
Short term obligations classified as long-term debt | 435 | 435 |
Duke Energy Indiana [Member] | Tax Exempt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 285 | 285 |
Duke Energy Indiana [Member] | Notes Payable And Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short term obligations classified as long-term debt | 150 | 150 |
Debt_and_Credit_Facilities_Sum1
Debt and Credit Facilities (Summary of Debt Issuances) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Apr. 30, 2014 | |
Debt Instrument [Line Items] | |||
Debt issuances | $2,922,000,000 | $4,023,000,000 | |
April 2014 3.75% Senior Unsecured Notes Maturing April 2024 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Apr-14 | ||
Debt maturity date | 30-Apr-24 | ||
Debt issuances | 600,000,000 | ||
Interest rate | 3.75% | ||
Repayments of Debt | 402,000,000 | ||
April 2014 0.613% Senior Unsecured Floating Notes Maturing April 2017 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Apr-14 | ||
Debt maturity date | 30-Apr-17 | ||
Debt issuances | 400,000,000 | ||
Interest rate | 0.61% | ||
Fixed credit spread | 0.38% | ||
Repayments of Debt | 402,000,000 | ||
June 2014 11.970% Senior Unsecured Floating Notes Maturing May 2019 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Jun-14 | ||
Debt maturity date | 31-May-19 | ||
Debt issuances | 108,000,000 | ||
Interest rate | 11.97% | ||
Repayments of Debt | 196,000,000 | ||
June 2014 13.680% Senior Unsecured Floating Notes Maturing May 2021 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Jun-14 | ||
Debt maturity date | 31-May-21 | ||
Debt issuances | 110,000,000 | ||
Interest rate | 13.68% | ||
Repayments of Debt | 196,000,000 | ||
March 2014 0.863% Secured Credit Facility Maturing March 2017 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Mar-14 | ||
Debt maturity date | 31-Mar-17 | ||
Debt issuances | 225,000,000 | ||
Interest rate | 0.86% | ||
July 2014 5.340% Secured Debt Maturing July 2036 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Jul-14 | ||
Debt maturity date | 31-Jul-36 | ||
Debt issuances | 129,000,000 | ||
Interest rate | 5.34% | ||
March 2014 4.375% First Mortgage Bonds Maturing March 2044 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Mar-14 | ||
Debt maturity date | 31-Mar-44 | ||
Debt issuances | 400,000,000 | ||
Interest rate | 4.38% | ||
March 2014 0.435% First Mortgage Bonds Maturing March 2017[Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Mar-14 | ||
Debt maturity date | 31-Mar-17 | ||
Debt issuances | 250,000,000 | ||
Interest rate | 0.44% | ||
Fixed credit spread | 0.20% | ||
November 2014 4.150% Fixed First Mortgage Bonds Maturing December 2044 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Nov-14 | ||
Debt maturity date | 31-Dec-44 | ||
Debt issuances | 500,000,000 | ||
Interest rate | 4.15% | ||
Repayments of Debt | 450,000,000 | ||
November 2014 0.432% Floating First Mortgage Bonds Maturing November 2017 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Nov-14 | ||
Debt maturity date | 30-Nov-17 | ||
Debt issuances | 200,000,000 | ||
Interest rate | 0.43% | ||
Fixed credit spread | 0.20% | ||
Repayments of Debt | 450,000,000 | ||
January 2013 5.125% Junior Subordinated Debentures Maturing January 2073 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Jan-13 | ||
Debt maturity date | 31-Jan-73 | ||
Debt issuances | 500,000,000 | ||
Interest rate | 5.13% | ||
Debt instrument, call date, earliest | 31-Jan-18 | ||
June 2013 2.100% Senior Notes Maturing June 2018 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 30-Jun-13 | ||
Debt maturity date | 30-Jun-18 | ||
Debt issuances | 500,000,000 | ||
Interest rate | 2.10% | ||
Repayments of Debt | 250,000,000 | ||
August 2013 11.000% Non Convertible Debentures Maturing August 2018 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Aug-13 | ||
Debt maturity date | 30-Aug-23 | ||
Debt maturity date, start | 31-Aug-18 | ||
Debt issuances | 220,000,000 | ||
Interest rate | 11.00% | ||
Repayments of Debt | 200,000,000 | ||
October 2013 3.950% Senior Notes Maturing October 2023 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Oct-13 | ||
Debt maturity date | 31-Oct-23 | ||
Debt issuances | 400,000,000 | ||
Interest rate | 3.95% | ||
February 2013 2.043% Term Loans Maturing December 2030 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 28-Feb-13 | ||
Debt maturity date | 31-Dec-30 | ||
Debt issuances | 203,000,000 | ||
Interest rate | 2.04% | ||
Percentage of debt hedged by interest rate derivatives | 95.00% | ||
February 2013 4.740% Term Loans Maturing June 2037 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 28-Feb-13 | ||
Debt maturity date | 30-Jun-37 | ||
Debt issuances | 220,000,000 | ||
Interest rate | 4.74% | ||
April 2013 5.456% Non Recourse Secured Credit Facility Maturing April 2026 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 30-Apr-13 | ||
Debt maturity date | 30-Apr-26 | ||
Debt issuances | 230,000,000 | ||
Interest rate | 5.46% | ||
Percentage of debt hedged by interest rate derivatives | 75.00% | ||
Incremental debt proceeds | 40,000,000 | ||
April 2013 5.456% Non Recourse Secured Credit Facility Maturing April 2026 [Member] | Bridge Loan [Member] | |||
Debt Instrument [Line Items] | |||
Repayments of Debt | 190,000,000 | ||
December 2013 0.852% Secured ARS Maturing December 2016 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 20-Dec-13 | ||
Debt maturity date | 20-Dec-16 | ||
Debt issuances | 300,000,000 | ||
Interest rate | 0.85% | ||
March 2013 4.100% First Mortgage Bonds Maturing March 2043 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Mar-13 | ||
Debt maturity date | 31-Mar-43 | ||
Debt issuances | 500,000,000 | ||
Interest rate | 4.10% | ||
July 2013 4.900% First Mortgage Bonds Maturing July 2043 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Jul-13 | ||
Debt maturity date | 31-Jul-43 | ||
Debt issuances | 350,000,000 | ||
Interest rate | 4.90% | ||
Repayments of Debt | 400,000,000 | ||
July 2013 0.619% First Mortgage Bonds Maturing July 2016 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Jul-13 | ||
Debt maturity date | 31-Jul-16 | ||
Debt issuances | 150,000,000 | ||
Interest rate | 0.62% | ||
Fixed credit spread | 0.35% | ||
September 2013 3.800% First Mortgage Bonds Maturing September 2023 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 30-Sep-13 | ||
Debt maturity date | 30-Sep-23 | ||
Debt issuances | 300,000,000 | ||
Interest rate | 3.80% | ||
Repayments of Debt | 250,000,000 | ||
September 2013 0.400% First Mortgage Bonds Maturing March 2015 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 30-Sep-13 | ||
Debt maturity date | 31-Mar-15 | ||
Debt issuances | 150,000,000 | ||
Interest rate | 0.40% | ||
Fixed credit spread | 0.14% | ||
Parent Company [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuances | 1,000,000,000 | 1,400,000,000 | |
Parent Company [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuances | 1,000,000,000 | ||
Parent Company [Member] | April 2014 3.75% Senior Unsecured Notes Maturing April 2024 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Apr-14 | ||
Debt maturity date | 30-Apr-24 | ||
Debt issuances | 600,000,000 | ||
Interest rate | 3.75% | ||
Repayments of Debt | 402,000,000 | ||
Parent Company [Member] | April 2014 0.613% Senior Unsecured Floating Notes Maturing April 2017 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Apr-14 | ||
Debt maturity date | 30-Apr-17 | ||
Debt issuances | 400,000,000 | ||
Fixed credit spread | 0.38% | ||
Repayments of Debt | 402,000,000 | ||
Parent Company [Member] | January 2013 5.125% Junior Subordinated Debentures Maturing January 2073 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Jan-13 | ||
Debt maturity date | 31-Jan-73 | ||
Debt issuances | 500,000,000 | ||
Interest rate | 5.13% | ||
Parent Company [Member] | June 2013 2.100% Senior Notes Maturing June 2018 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 30-Jun-13 | ||
Debt maturity date | 30-Jun-18 | ||
Debt issuances | 500,000,000 | ||
Interest rate | 2.10% | ||
Repayments of Debt | 250,000,000 | ||
Parent Company [Member] | October 2013 3.950% Senior Notes Maturing October 2023 [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Oct-13 | ||
Debt maturity date | 31-Oct-23 | ||
Debt issuances | 400,000,000 | ||
Interest rate | 3.95% | ||
Progress Energy [Member] | January 2013 5.125% Junior Subordinated Debentures Maturing January 2073 [Member] | Corporate Debt Securities [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 7.10% | ||
Repayments of Debt | 300,000,000 | ||
Duke Energy Progress [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuances | 1,350,000,000 | 800,000,000 | |
Duke Energy Progress [Member] | March 2014 4.375% First Mortgage Bonds Maturing March 2044 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Mar-14 | ||
Debt maturity date | 31-Mar-44 | ||
Debt issuances | 400,000,000 | ||
Duke Energy Progress [Member] | March 2014 0.435% First Mortgage Bonds Maturing March 2017[Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Mar-14 | ||
Debt maturity date | 31-Mar-17 | ||
Debt issuances | 250,000,000 | ||
Fixed credit spread | 0.20% | ||
Duke Energy Progress [Member] | November 2014 4.150% Fixed First Mortgage Bonds Maturing December 2044 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Nov-14 | ||
Debt maturity date | 31-Dec-44 | ||
Debt issuances | 500,000,000 | ||
Repayments of Debt | 450,000,000 | ||
Duke Energy Progress [Member] | November 2014 0.432% Floating First Mortgage Bonds Maturing November 2017 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Nov-14 | ||
Debt maturity date | 30-Nov-17 | ||
Debt issuances | 200,000,000 | ||
Fixed credit spread | 0.20% | ||
Repayments of Debt | 450,000,000 | ||
Duke Energy Progress [Member] | December 2013 0.852% Secured ARS Maturing December 2016 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 20-Dec-13 | ||
Debt maturity date | 31-Dec-16 | ||
Debt issuances | 300,000,000 | ||
Interest rate | 0.85% | ||
Duke Energy Progress [Member] | March 2013 4.100% First Mortgage Bonds Maturing March 2043 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Mar-13 | ||
Debt maturity date | 31-Mar-43 | ||
Debt issuances | 500,000,000 | ||
Interest rate | 4.10% | ||
Duke Energy Florida [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuances | 225,000,000 | ||
Duke Energy Florida [Member] | March 2014 0.863% Secured Credit Facility Maturing March 2017 [Member] | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 1-Mar-14 | ||
Debt maturity date | 31-Mar-17 | ||
Debt issuances | 225,000,000 | ||
Duke Energy Ohio [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuances | 450,000,000 | ||
Duke Energy Ohio [Member] | September 2013 3.800% First Mortgage Bonds Maturing September 2023 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 30-Sep-13 | ||
Debt maturity date | 30-Sep-23 | ||
Debt issuances | 300,000,000 | ||
Interest rate | 3.80% | ||
Repayments of Debt | 250,000,000 | ||
Duke Energy Ohio [Member] | September 2013 0.400% First Mortgage Bonds Maturing March 2015 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 30-Sep-13 | ||
Debt maturity date | 31-Mar-15 | ||
Debt issuances | 150,000,000 | ||
Interest rate | 0.40% | ||
Fixed credit spread | 0.14% | ||
Duke Energy Indiana [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuances | 500,000,000 | ||
Duke Energy Indiana [Member] | July 2013 4.900% First Mortgage Bonds Maturing July 2043 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Jul-13 | ||
Debt maturity date | 31-Jul-43 | ||
Debt issuances | 350,000,000 | ||
Interest rate | 4.90% | ||
Repayments of Debt | 400,000,000 | ||
Duke Energy Indiana [Member] | July 2013 0.619% First Mortgage Bonds Maturing July 2016 [Member] | First Mortgage Bonds [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | 31-Jul-13 | ||
Debt maturity date | 31-Jul-16 | ||
Debt issuances | $150,000,000 | ||
Interest rate | 0.62% | ||
Fixed credit spread | 0.35% |
Debt_and_Credit_Facilities_Ann
Debt and Credit Facilities (Annual Maturities) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | $2,807 | $2,104 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 2,793 | |
2016 | 2,980 | |
2017 | 2,452 | |
2018 | 3,207 | |
2019 | 2,810 | |
Thereafter | 23,803 | |
Total long-term debt, including current maturities | 38,045 | |
Other Debt Obligations [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 214 | |
Duke Energy Carolinas [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 507 | 47 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 507 | |
2016 | 756 | |
2017 | 116 | |
2018 | 1,505 | |
2019 | 5 | |
Thereafter | 5,502 | |
Total long-term debt, including current maturities | 8,391 | |
Duke Energy Carolinas [Member] | 5.300% October 2015 Maturity 1 [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 30-Oct-15 | |
Interest rate | 5.30% | |
Current maturities of long-term debt | 500 | |
Progress Energy [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 1,507 | 485 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 1,507 | |
2016 | 614 | |
2017 | 940 | |
2018 | 515 | |
2019 | 1,418 | |
Thereafter | 9,760 | |
Total long-term debt, including current maturities | 14,754 | |
Duke Energy Progress [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 945 | 174 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 945 | |
2016 | 302 | |
2017 | 453 | |
2018 | 3 | |
2019 | 606 | |
Thereafter | 3,892 | |
Total long-term debt, including current maturities | 6,201 | |
Duke Energy Progress [Member] | 5.150% April 2015 Maturity 2 [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 30-Apr-15 | |
Interest rate | 5.15% | |
Current maturities of long-term debt | 300 | |
Duke Energy Progress [Member] | 5.250% December 2015 Maturity 2 [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 31-Dec-15 | |
Interest rate | 5.25% | |
Current maturities of long-term debt | 400 | |
Duke Energy Progress [Member] | 0.108% January 2015 Maturity 1 [Member] | Tax Exempt Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 31-Jan-15 | |
Interest rate | 0.11% | |
Current maturities of long-term debt | 243 | |
Duke Energy Florida [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 562 | 11 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 562 | |
2016 | 12 | |
2017 | 487 | |
2018 | 512 | |
2019 | 12 | |
Thereafter | 3,275 | |
Total long-term debt, including current maturities | 4,860 | |
Duke Energy Florida [Member] | 0.650% November 2015 Maturity 1 [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 30-Nov-15 | |
Interest rate | 0.65% | |
Current maturities of long-term debt | 250 | |
Duke Energy Florida [Member] | 5.100% December 2015 Maturity 1 [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 31-Dec-15 | |
Interest rate | 5.10% | |
Current maturities of long-term debt | 300 | |
Duke Energy Ohio [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 157 | 47 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 157 | |
2016 | 57 | |
2017 | 3 | |
2018 | 28 | |
2019 | 552 | |
Thereafter | 969 | |
Total long-term debt, including current maturities | 1,766 | |
Duke Energy Ohio [Member] | 0.375 % March 2015 Debt Maturing [Member] | First Mortgage Bonds [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 31-Mar-15 | |
Interest rate | 0.38% | |
Current maturities of long-term debt | 150 | |
Duke Energy Indiana [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Current maturities of long-term debt | 5 | 5 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 5 | |
2016 | 480 | |
2017 | 3 | |
2018 | 153 | |
2019 | 62 | |
Thereafter | 3,088 | |
Total long-term debt, including current maturities | 3,791 | |
Parent Company [Member] | 3.350% April 2015 Debt Maturing [Member] | Unsecured Debt [Member] | ||
Current Maturities Of Long Term Debt [Abstract] | ||
Maturity date | 30-Apr-15 | |
Interest rate | 3.35% | |
Current maturities of long-term debt | $450 |
Debt_and_Credit_Facilities_Sch
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Line of Credit Facility [Line Items] | ||
Facility size | $6,000,000,000 | |
Tax exempt bonds | -1,296,000,000 | -2,356,000,000 |
Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 6,000,000,000 | |
Long-term Commercial Paper | -2,021,000,000 | |
Outstanding letters of credit | -70,000,000 | |
Tax exempt bonds | -116,000,000 | |
Available capacity | 3,793,000,000 | |
Proceeds Loaned To Subsidiary Registrants [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Long-term Commercial Paper | -475,000,000 | |
Duke Energy Carolinas [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | -355,000,000 | -395,000,000 |
Duke Energy Carolinas [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 1,000,000,000 | |
Long-term Commercial Paper | -300,000,000 | |
Outstanding letters of credit | -4,000,000 | |
Tax exempt bonds | -35,000,000 | |
Available capacity | 661,000,000 | |
Progress Energy [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | -291,000,000 | -910,000,000 |
Duke Energy Progress [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | -291,000,000 | -669,000,000 |
Duke Energy Progress [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 750,000,000 | |
Outstanding letters of credit | -2,000,000 | |
Available capacity | 748,000,000 | |
Duke Energy Florida [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | -241,000,000 | |
Duke Energy Florida [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 650,000,000 | |
Long-term Commercial Paper | -29,000,000 | |
Outstanding letters of credit | -1,000,000 | |
Available capacity | 620,000,000 | |
Duke Energy Ohio [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | -77,000,000 | -479,000,000 |
Duke Energy Ohio [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 650,000,000 | |
Long-term Commercial Paper | -38,000,000 | |
Available capacity | 612,000,000 | |
Duke Energy Indiana [Member] | ||
Line of Credit Facility [Line Items] | ||
Tax exempt bonds | -573,000,000 | -573,000,000 |
Duke Energy Indiana [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 700,000,000 | |
Long-term Commercial Paper | -175,000,000 | |
Outstanding letters of credit | -1,000,000 | |
Tax exempt bonds | -81,000,000 | |
Available capacity | 443,000,000 | |
Parent Company [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Facility size | 2,250,000,000 | |
Long-term Commercial Paper | -1,479,000,000 | |
Outstanding letters of credit | -62,000,000 | |
Available capacity | $709,000,000 |
Guarantees_and_Indemnification2
Guarantees and Indemnifications(Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Liabilities Recorded for Third Party Guarantees [Abstract] | ||
Face value of guarantees | $28 | $24 |
Surety Bond [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 44 | |
Guarantor obligations, term | At DecemberB 31, 2014, Duke Energy had guaranteed $44 million of outstanding surety bonds, most of which have no set expiration. | |
Standby Letters Of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 452 | |
Guarantor obligations, term | At DecemberB 31, 2014, Duke Energy had issued a total of $452 million in letters of credit, which expire between 2015 and 2020. | |
Unused letters of credit | 46 | |
Performance Guarantee [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 267 | |
Maximum potential of future amounts associated with guarantees with expiration dates | 120 | |
Guarantor obligations, term | The maximum potential amount of future payments required under these guarantees as of DecemberB 31, 2014, was $267 million. Of this amount, $15 million relates to guarantees issued on behalf of less than wholly owned consolidated entities, with the remainder related to guarantees issued on behalf of third parties and unconsolidated affiliates of Duke Energy. Of the guarantees noted above, $120 million of the guarantees expire between 2015 and 2033, with the remaining performance guarantees having no contractual expiration. | |
Performance Guarantee [Member] | Less Than Wholly Owned Entity [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 15 | |
Spectra Capital [Member] | Performance Guarantee [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 205 | |
Guarantor obligations, term | At DecemberB 31, 2014, the maximum potential amount of future payments associated with these guarantees was $205 million, the majority of which expires by 2028. | |
Progress Energy [Member] | ||
Liabilities Recorded for Third Party Guarantees [Abstract] | ||
Face value of guarantees | 13 | 9 |
Progress Energy [Member] | Indemnification Agreement [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum potential amount of future payments associated with guarantees | 107 | |
Maximum potential amount of future payments associated with guarantees with no expiration date | 7 | |
Guarantee obligations, unlimited exposure | Certain indemnifications related to discontinued operations have no limitations as to time or maximum potential future payments. | |
Guarantor obligations, term | At DecemberB 31, 2014, the estimated maximum exposure for these indemnifications was $107 million, the majority of which expires in 2017. Of this amount, $7 million has no contractual expiration. | |
Duke Energy Florida [Member] | ||
Liabilities Recorded for Third Party Guarantees [Abstract] | ||
Face value of guarantees | $7 | $3 |
Joint_Ownership_of_Generating_2
Joint Ownership of Generating and Transmission Facilities Joint Ownership of Generating and Transmission Facilities (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
International Energy Brazil-Canoas I and II [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 47.20% |
Property, plant, and equipment | $235 |
Accumulated depreciation | 78 |
Duke Energy Carolinas [Member] | Duke Energy Carolinas Catawba Nuclear Station (Units 1 and 2) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 19.25% |
Property, plant, and equipment | 886 |
Accumulated depreciation | 534 |
Construction work in progress | 29 |
Duke Energy Progress [Member] | Duke Energy Progress Mayo Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 83.83% |
Property, plant, and equipment | 1,111 |
Accumulated depreciation | 360 |
Construction work in progress | 10 |
Duke Energy Progress [Member] | Shearon Harris Nuclear Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 83.83% |
Property, plant, and equipment | 3,872 |
Accumulated depreciation | 2,242 |
Construction work in progress | 208 |
Duke Energy Progress [Member] | Brunswick Nuclear Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 81.67% |
Property, plant, and equipment | 2,673 |
Accumulated depreciation | 1,372 |
Construction work in progress | 290 |
Duke Energy Progress [Member] | Duke Energy Progress Roxboro Station (Unit 4) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 87.06% |
Property, plant, and equipment | 954 |
Accumulated depreciation | 514 |
Construction work in progress | 24 |
Duke Energy Florida [Member] | Duke Energy Florida Crystal River Nuclear Station (Unit 3) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 91.78% |
Duke Energy Florida [Member] | Duke Energy Florida Intercession City Station (Unit P11) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 66.67% |
Property, plant, and equipment | 24 |
Accumulated depreciation | 14 |
Duke Energy Ohio [Member] | Duke Energy Ohio Miami Fort Station (Units 7 and 8) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 64.00% |
Duke Energy Ohio [Member] | Duke Energy Ohio J.M. Stuart Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 39.00% |
Duke Energy Ohio [Member] | Duke Energy Ohio Conesville Station (Unit 4) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 40.00% |
Duke Energy Ohio [Member] | Duke Energy Ohio W.M. Zimmer Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 46.50% |
Duke Energy Ohio [Member] | Duke Energy Ohio Killen Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 33.00% |
Duke Energy Ohio [Member] | Duke Energy Ohio Transmission [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Property, plant, and equipment | 96 |
Accumulated depreciation | 51 |
Construction work in progress | 1 |
Duke Energy Indiana [Member] | Duke Energy Indiana Gibson Station (Unit 5) [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 50.05% |
Property, plant, and equipment | 315 |
Accumulated depreciation | 170 |
Construction work in progress | 6 |
Duke Energy Indiana [Member] | Vermillion Generation Station [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Joint owner ownership percentage | 62.50% |
Property, plant, and equipment | 154 |
Accumulated depreciation | 105 |
Duke Energy Indiana [Member] | Duke Energy Indiana Transmission and local facilities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Property, plant, and equipment | 3,918 |
Accumulated depreciation | $1,633 |
Asset_Retirement_Obligations_A
Asset Retirement Obligations Asset Retirement Obligations (Narrative)(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Asset Retirement Obligation [Line Items] | ||
Asset Retirement Obligations, Noncurrent | $8,466 | $4,950 |
Net property, plant and equipment | 70,046 | 69,490 |
Regulatory assets, noncurrent | 11,042 | 9,191 |
Regulatory liability, noncurrent | 6,193 | 5,949 |
Ash Basins [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Number of Ash Basins | 32 | |
Number of Plants with Ash Basins | 14 | |
Duke Energy Carolinas [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Asset Retirement Obligations, Noncurrent | 3,428 | 1,594 |
Net property, plant and equipment | 24,672 | 23,012 |
Regulatory assets, noncurrent | 2,465 | 1,527 |
Regulatory liability, noncurrent | 2,710 | 2,576 |
Duke Energy Carolinas [Member] | Ash Basins [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Asset Retirement Obligations, Noncurrent | 1,735 | |
Net property, plant and equipment | 896 | |
Regulatory assets, noncurrent | 839 | |
Duke Energy Progress [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Asset Retirement Obligations, Noncurrent | 3,905 | 1,729 |
Net property, plant and equipment | 15,186 | 13,650 |
Regulatory assets, noncurrent | 2,675 | 1,384 |
Regulatory liability, noncurrent | 1,832 | 1,673 |
Duke Energy Progress [Member] | Ash Basins [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Asset Retirement Obligations, Noncurrent | 1,792 | |
Net property, plant and equipment | 603 | |
Regulatory assets, noncurrent | 1,152 | |
Removal Costs [Member] | Duke Energy Progress [Member] | Ash Basins [Member] | ||
Asset Retirement Obligation [Line Items] | ||
Regulatory liability, noncurrent | $37 |
Asset_Retirement_Obligations_R
Asset Retirement Obligations (Rollforward)(Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Asset Retirement Obligation [Roll Forward] | |||
Balance as of January 1 | $4,958 | $5,176 | |
Acquisitions | 4 | 4 | |
Accretion expense | 246 | 239 | |
Liabilities settled | -68 | -12 | |
Liabilities incurred in the current year | 3,500 | ||
Revisions in estimates of cash flows | -174 | -449 | |
Balance as of December 31 | 8,466 | 4,958 | |
Duke Energy Carolinas [Member] | |||
Asset Retirement Obligation [Roll Forward] | |||
Balance as of January 1 | 1,594 | 1,959 | |
Accretion expense | 113 | 122 | |
Liabilities incurred in the current year | 1,717 | ||
Revisions in estimates of cash flows | 4 | -487 | |
Balance as of December 31 | 3,428 | 1,594 | |
Progress Energy [Member] | |||
Asset Retirement Obligation [Roll Forward] | |||
Balance as of January 1 | 2,570 | 2,420 | |
Accretion expense | 135 | 113 | |
Liabilities settled | -68 | -12 | |
Liabilities incurred in the current year | 1,783 | ||
Revisions in estimates of cash flows | 291 | 49 | |
Balance as of December 31 | 4,711 | 2,570 | |
Duke Energy Progress [Member] | |||
Asset Retirement Obligation [Roll Forward] | |||
Balance as of January 1 | 1,737 | 1,656 | |
Accretion expense | 97 | 80 | |
Liabilities incurred in the current year | 1,783 | ||
Revisions in estimates of cash flows | 288 | 1 | |
Balance as of December 31 | 3,905 | 1,737 | |
Asset retirement obligation, current | 8 | 7 | |
Duke Energy Florida [Member] | |||
Asset Retirement Obligation [Roll Forward] | |||
Balance as of January 1 | 833 | 764 | |
Accretion expense | 38 | 33 | |
Liabilities settled | -68 | -12 | |
Revisions in estimates of cash flows | 3 | 48 | |
Balance as of December 31 | 806 | 833 | |
Duke Energy Ohio [Member] | |||
Asset Retirement Obligation [Roll Forward] | |||
Balance as of January 1 | 28 | 28 | |
Accretion expense | 2 | 2 | |
Revisions in estimates of cash flows | -3 | -2 | |
Balance as of December 31 | 27 | 28 | |
Duke Energy Indiana [Member] | |||
Asset Retirement Obligation [Roll Forward] | |||
Balance as of January 1 | 30 | 37 | |
Accretion expense | 2 | ||
Revisions in estimates of cash flows | -7 | ||
Balance as of December 31 | $32 | $30 |
Asset_Retirement_Obligations_N
Asset Retirement Obligations (NDTF Information)(Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
NDTF Information [Abstract] | ||
Legally restricted NDTF investments, fair value | $5,182 | $4,769 |
Duke Energy Carolinas [Member] | ||
NDTF Information [Abstract] | ||
Legally restricted NDTF investments, fair value | 2,678 | 2,477 |
Duke Energy Carolinas [Member] | 2013 Cost Study [Member] | ||
NDTF Information [Abstract] | ||
Decommissioning contribution requirement | 21 | |
Decommissioning cost study estimate | 3,420 | |
Duke Energy Progress [Member] | 2014 Cost Study [Member] | ||
NDTF Information [Abstract] | ||
Decommissioning contribution requirement | 14 | |
Decommissioning cost study estimate | 3,062 | |
Duke Energy Florida [Member] | 2013 Cost Study [Member] | ||
NDTF Information [Abstract] | ||
Decommissioning cost study estimate | $1,083 |
Asset_Retirement_Obligations_N1
Asset Retirement Obligations (Nuclear Operating Licenses)(Details) | 12 Months Ended |
Dec. 31, 2014 | |
Duke Energy Carolinas [Member] | Catawba Unit 1 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2043 |
Duke Energy Carolinas [Member] | Catawba Unit 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2043 |
Duke Energy Carolinas [Member] | McGuire Unit 1 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2041 |
Duke Energy Carolinas [Member] | McGuire Unit 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2043 |
Duke Energy Carolinas [Member] | Oconee Unit 1 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2033 |
Duke Energy Carolinas [Member] | Oconee Unit 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2033 |
Duke Energy Carolinas [Member] | Oconee Unit 3 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2034 |
Duke Energy Progress [Member] | Brunswick Unit 1 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2036 |
Duke Energy Progress [Member] | Brunswick Unit 2 [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2034 |
Duke Energy Progress [Member] | Shearon Harris Nuclear Station [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2046 |
Duke Energy Progress [Member] | Robinson Nuclear Station [Member] | |
Asset Retirement Obligation [Line Items] | |
Year of expiration | 2030 |
Property_Plant_and_Equipment_S
Property, Plant and Equipment (Schedule Of Property, Plant and Equipment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | $1,459 | $1,481 | |
Nuclear fuel | 2,865 | 2,458 | |
Equipment | 1,762 | 1,557 | |
Construction in process | 4,519 | 3,595 | |
Other | 3,497 | 3,438 | |
Total property, plant and equipment | 104,861 | 103,115 | |
Total accumulated depreciation | -34,824 | -33,625 | |
Generation Facilities To Be Retired Net | 9 | ||
Total net property, plant and equipment | 70,046 | 69,490 | |
Capitalized leases | 1,548 | 1,606 | |
Accumulated amortization on capitalized leases | 52 | 40 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 75 | 89 | 176 |
Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Equipment, estimated useful life, years | 3 years | 1 year | |
Other, estimated useful life, in years | 5 years | 5 years | |
Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Equipment, estimated useful life, years | 34 years | 33 years | |
Other, estimated useful life, in years | 80 years | 33 years | |
Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -1,408 | -1,118 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total property, plant and equipment | 1,873 | 1,678 | |
Total accumulated depreciation | -257 | -175 | |
Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -32,628 | -31,659 | |
Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 82,206 | 78,272 | |
Regulated Operation [Member] | Electric [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 2 years | 2 years | |
Regulated Operation [Member] | Electric [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 138 years | 125 years | |
Regulated Operation [Member] | Natural Gas [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 2,230 | 2,138 | |
Regulated Operation [Member] | Natural Gas [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 12 years | 12 years | |
Regulated Operation [Member] | Natural Gas [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 67 years | 67 years | |
Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 1,445 | 1,397 | |
Regulated Operation [Member] | Other Buildings And Improvements [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 9 years | 2 years | |
Regulated Operation [Member] | Other Buildings And Improvements [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 100 years | 100 years | |
Nonregulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -2,196 | -1,966 | |
Nonregulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 2,380 | 6,267 | |
Nonregulated Operation [Member] | Electric [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 1 year | 2 years | |
Nonregulated Operation [Member] | Electric [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 30 years | 100 years | |
Nonregulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 2,498 | 2,512 | |
Nonregulated Operation [Member] | Other Buildings And Improvements [Member] | Minimum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 5 years | 9 years | |
Nonregulated Operation [Member] | Other Buildings And Improvements [Member] | Maximum [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution, estimated useful life, in years | 50 years | 100 years | |
Duke Energy Carolinas [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 403 | 397 | |
Nuclear fuel | 1,676 | 1,446 | |
Equipment | 341 | 287 | |
Construction in process | 2,081 | 1,741 | |
Other | 655 | 570 | |
Total property, plant and equipment | 37,372 | 34,906 | |
Total accumulated depreciation | -12,700 | -11,894 | |
Total net property, plant and equipment | 24,672 | 23,012 | |
Capitalized leases | 40 | 53 | |
Accumulated amortization on capitalized leases | 8 | 4 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 38 | 41 | 72 |
Duke Energy Carolinas [Member] | Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -847 | -681 | |
Duke Energy Carolinas [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -12,700 | -11,894 | |
Duke Energy Carolinas [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 31,751 | 30,018 | |
Duke Energy Carolinas [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 465 | 447 | |
Progress Energy [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 704 | 705 | |
Nuclear fuel | 1,190 | 1,012 | |
Equipment | 506 | 621 | |
Construction in process | 1,215 | 873 | |
Other | 756 | 867 | |
Total property, plant and equipment | 38,650 | 36,480 | |
Total accumulated depreciation | -13,506 | -13,098 | |
Total net property, plant and equipment | 25,144 | 23,382 | |
Capitalized leases | 315 | 328 | |
Accumulated amortization on capitalized leases | 72 | 60 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 11 | 19 | 41 |
Progress Energy [Member] | Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -561 | -438 | |
Progress Energy [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -13,506 | -13,098 | |
Progress Energy [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 33,672 | 31,792 | |
Progress Energy [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 607 | 610 | |
Duke Energy Progress [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 380 | 383 | |
Nuclear fuel | 1,190 | 1,012 | |
Equipment | 388 | 357 | |
Construction in process | 908 | 631 | |
Other | 439 | 418 | |
Total property, plant and equipment | 24,207 | 22,273 | |
Total accumulated depreciation | -9,021 | -8,623 | |
Total net property, plant and equipment | 15,186 | 13,650 | |
Capitalized leases | 146 | 148 | |
Accumulated amortization on capitalized leases | 5 | ||
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 10 | 16 | 23 |
Duke Energy Progress [Member] | Nuclear Fuel [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -561 | -438 | |
Duke Energy Progress [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -9,021 | -8,623 | |
Duke Energy Progress [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 20,616 | 19,190 | |
Duke Energy Progress [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 286 | 282 | |
Duke Energy Florida [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 324 | 321 | |
Equipment | 118 | 94 | |
Construction in process | 307 | 238 | |
Other | 310 | 294 | |
Total property, plant and equipment | 14,433 | 13,863 | |
Total accumulated depreciation | -4,478 | -4,252 | |
Total net property, plant and equipment | 9,955 | 9,611 | |
Capitalized leases | 169 | 180 | |
Accumulated amortization on capitalized leases | 67 | 57 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 1 | 3 | 18 |
Duke Energy Florida [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -4,478 | -4,252 | |
Duke Energy Florida [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 13,056 | 12,601 | |
Duke Energy Florida [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 318 | 315 | |
Duke Energy Ohio [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 114 | 137 | |
Equipment | 330 | 317 | |
Construction in process | 97 | 166 | |
Other | 214 | 248 | |
Total property, plant and equipment | 7,141 | 11,143 | |
Total accumulated depreciation | -2,213 | -2,908 | |
Generation Facilities To Be Retired Net | 9 | ||
Total net property, plant and equipment | 4,937 | 8,235 | |
Capitalized leases | 98 | 96 | |
Accumulated amortization on capitalized leases | 25 | 21 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 10 | 11 | 13 |
Duke Energy Ohio [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -2,213 | -2,160 | |
Duke Energy Ohio [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 3,956 | 3,925 | |
Duke Energy Ohio [Member] | Regulated Operation [Member] | Natural Gas [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 2,230 | 2,138 | |
Duke Energy Ohio [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 200 | 190 | |
Duke Energy Ohio [Member] | Nonregulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -748 | ||
Duke Energy Ohio [Member] | Nonregulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 4,017 | ||
Duke Energy Ohio [Member] | Nonregulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 5 | ||
Duke Energy Indiana [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Land | 108 | 105 | |
Equipment | 166 | 146 | |
Construction in process | 481 | 307 | |
Other | 195 | 178 | |
Total property, plant and equipment | 13,034 | 12,489 | |
Total accumulated depreciation | -4,219 | -3,913 | |
Total net property, plant and equipment | 8,815 | 8,576 | |
Capitalized leases | 30 | 30 | |
Accumulated amortization on capitalized leases | 6 | 5 | |
Capitalized Interest Costs [Abstract] | |||
Capitalized interest | 6 | 9 | 39 |
Duke Energy Indiana [Member] | Regulated Operation [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Total accumulated depreciation | -4,219 | -3,913 | |
Duke Energy Indiana [Member] | Regulated Operation [Member] | Electric [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | 11,911 | 11,594 | |
Duke Energy Indiana [Member] | Regulated Operation [Member] | Other Buildings And Improvements [Member] | |||
Public Utilities, Property, Plant and Equipment, Net [Abstract] | |||
Plant - transmission and distribution | $173 | $159 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Goodwill By Reportable Operating Segment) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Goodwill [Line Items] | ||
Goodwill | $17,192 | $17,211 |
Accumulated impairment charges | -871 | -871 |
Goodwill as adjusted for accumulated impairment charges | 16,321 | 16,340 |
Foreign exchange and other changes | -19 | |
Regulated Utilities [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 15,950 | 15,950 |
Goodwill as adjusted for accumulated impairment charges | 15,950 | 15,950 |
Commercial Power [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 935 | 935 |
Accumulated impairment charges | -871 | -871 |
Goodwill as adjusted for accumulated impairment charges | 64 | 64 |
International [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 307 | 326 |
Goodwill as adjusted for accumulated impairment charges | 307 | 326 |
Foreign exchange and other changes | -19 | |
Progress Energy [Member] | ||
Goodwill [Line Items] | ||
Goodwill as adjusted for accumulated impairment charges | 3,655 | 3,655 |
Duke Energy Ohio [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 2,324 | 2,324 |
Accumulated impairment charges | -1,404 | -1,404 |
Goodwill as adjusted for accumulated impairment charges | 920 | 920 |
Duke Energy Ohio [Member] | Regulated Utilities [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 1,136 | 1,136 |
Accumulated impairment charges | -216 | -216 |
Goodwill as adjusted for accumulated impairment charges | 920 | 920 |
Duke Energy Ohio [Member] | DEO Commercial Power [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 1,188 | 1,188 |
Accumulated impairment charges | ($1,188) | ($1,188) |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | $317 | $487 | |
Accumulated amortization | -54 | -109 | |
Total intangible assets, net | 263 | 378 | |
Amortization expense | 6 | 13 | 14 |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
2015 | 11 | ||
2016 | 8 | ||
2017 | 7 | ||
2018 | 7 | ||
2019 | 7 | ||
Pretax impairment charge | 81 | 399 | 666 |
Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 23 | 63 | |
Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 97 | 82 | |
Gas Coal And Power Contracts [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 24 | 180 | |
Accumulated amortization | -15 | -73 | |
Wind Development Rights [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 97 | 86 | |
Accumulated amortization | -14 | -12 | |
Other Intangible Assets [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 76 | 76 | |
Accumulated amortization | -25 | -24 | |
Duke Energy Carolinas [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 26 | 17 | |
Total intangible assets, net | 26 | 17 | |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Pretax impairment charge | 3 | 31 | |
Duke Energy Carolinas [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 1 | 1 | |
Duke Energy Carolinas [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 25 | 16 | |
Progress Energy [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 76 | 85 | |
Total intangible assets, net | 76 | 85 | |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Pretax impairment charge | -16 | 380 | 200 |
Progress Energy [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 7 | 21 | |
Progress Energy [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 69 | 64 | |
Duke Energy Progress [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 72 | 67 | |
Total intangible assets, net | 72 | 67 | |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Pretax impairment charge | -18 | 22 | 54 |
Duke Energy Progress [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 3 | 3 | |
Duke Energy Progress [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 69 | 64 | |
Duke Energy Florida [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 4 | 18 | |
Total intangible assets, net | 4 | 18 | |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Pretax impairment charge | 2 | 358 | 146 |
Duke Energy Florida [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 4 | 18 | |
Duke Energy Ohio [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 3 | 178 | |
Accumulated amortization | -60 | ||
Total intangible assets, net | 3 | 118 | |
Amortization expense | 2 | 8 | 12 |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
2015 | 2 | ||
2016 | 1 | ||
2017 | 1 | ||
2018 | 1 | ||
2019 | 1 | ||
Pretax impairment charge | 94 | 5 | 2 |
Duke Energy Ohio [Member] | Other VIEs [Member] | |||
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Pretax impairment charge | 94 | ||
Duke Energy Ohio [Member] | Commercial Power [Member] | Other VIEs [Member] | |||
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Pretax impairment charge | 94 | ||
Duke Energy Ohio [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 20 | ||
Duke Energy Ohio [Member] | Renewable Energy Certificates [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 3 | 2 | |
Duke Energy Ohio [Member] | Gas Coal And Power Contracts [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 156 | ||
Accumulated amortization | -60 | ||
Duke Energy Indiana [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 40 | 45 | |
Accumulated amortization | -15 | -13 | |
Total intangible assets, net | 25 | 32 | |
Amortization expense | 1 | 1 | 1 |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
2015 | 5 | ||
2016 | 3 | ||
2017 | 2 | ||
2018 | 2 | ||
2019 | 2 | ||
Pretax impairment charge | 0 | 0 | 579 |
Duke Energy Indiana [Member] | Emission Allowances [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 16 | 21 | |
Duke Energy Indiana [Member] | Gas Coal And Power Contracts [Member] | |||
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying amount | 24 | 24 | |
Accumulated amortization | ($15) | ($13) |
Investments_in_Unconsolidated_2
Investments in Unconsolidated Affiliates (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investments In Unconsolidated Affiliates [Line Items] | |||
Gain on sale of equity investment | $17 | $100 | $22 |
Distributions from equity investments | 154 | 144 | 183 |
National Methanol Company [Member] | International Energy [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Equity method investment, ownership percentage | 25.00% | ||
Sweetwater I-V [Member] | Commercial Power [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Equity method investment, ownership percentage | 50.00% | ||
INDU Solar Holdings [Member] | Commercial Power [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Equity method investment, ownership percentage | 50.00% | ||
DS Cornerstone [Member] | Commercial Power [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Equity method investment, ownership percentage | 50.00% | ||
Duke American Transmission Co. [Member] | Commercial Power [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Equity method investment, ownership percentage | 50.00% | ||
DukeNet [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Net sales proceeds | 215 | ||
Gain on sale of equity investment | $105 | ||
DukeNet [Member] | Other [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Equity method investment, ownership percentage | 50.00% |
Investments_in_Unconsolidated_3
Investments in Unconsolidated Affiliates (Investments in Equity Method Unconsolidated Affiliates) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | $358 | $390 | |
Equity in earnings (losses) of unconsolidated affiliates | 130 | 122 | 148 |
Regulated Utilities [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 3 | 4 | |
Equity in earnings (losses) of unconsolidated affiliates | -3 | -1 | -5 |
International Energy [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 69 | 82 | |
Equity in earnings (losses) of unconsolidated affiliates | 120 | 110 | 134 |
Commercial Power [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 258 | 252 | |
Equity in earnings (losses) of unconsolidated affiliates | 10 | 7 | 14 |
Other [Member] | |||
Investments In Unconsolidated Affiliates [Line Items] | |||
Investments in unconsolidated affiliates | 28 | 52 | |
Equity in earnings (losses) of unconsolidated affiliates | $3 | $6 | $5 |
Related_Party_Transactions_Oth
Related Party Transactions (Other Revenue and Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Duke Energy Carolinas [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | $851 | $927 | $1,112 |
Duke Energy Carolinas [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 21 | 22 | 21 |
Duke Energy Carolinas [Member] | Joint Dispatch Agreement (JDA) [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 133 | 121 | 18 |
Related party transaction, expenses from transactions with related party | 198 | 116 | 91 |
Progress Energy [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 96 | 47 | |
Related party transaction, expenses from transactions with related party | 732 | 290 | 63 |
Progress Energy [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 33 | 34 | 17 |
Progress Energy [Member] | Joint Dispatch Agreement (JDA) [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 198 | 116 | 91 |
Related party transaction, expenses from transactions with related party | 133 | 121 | 18 |
Duke Energy Progress [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 386 | 266 | 254 |
Duke Energy Progress [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 17 | 20 | 8 |
Duke Energy Progress [Member] | Joint Dispatch Agreement (JDA) [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 198 | 116 | 91 |
Related party transaction, expenses from transactions with related party | 133 | 121 | 18 |
Duke Energy Florida [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 346 | 182 | 186 |
Duke Energy Florida [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 16 | 14 | 8 |
Duke Energy Ohio [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 316 | 347 | 358 |
Duke Energy Ohio [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 13 | 15 | 15 |
Duke Energy Ohio [Member] | MarkTo Market Of Commodity Contracts And Sales Of Power [Member] | DECAM [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, other revenues from transactions with related party | 24 | ||
Related party transaction, expenses from transactions with related party | 24 | 6 | |
Duke Energy Indiana [Member] | Corporate Governance And Shared Service Expenses [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | 384 | 422 | 419 |
Duke Energy Indiana [Member] | Indemnification Coverages [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, expenses from transactions with related party | $11 | $14 | $8 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Jan. 12, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Apr. 30, 2014 | |
Related Party Transaction [Line Items] | |||||
Debt instrument, face amount | $2,922,000,000 | $4,023,000,000 | |||
DECAM [Member] | |||||
Related Party Transaction [Line Items] | |||||
Proceeds from Issuance of Debt | 400,000,000 | ||||
Progress Energy [Member] | |||||
Related Party Transaction [Line Items] | |||||
Intercompany loan payable | 835,000,000 | 1,213,000,000 | |||
Duke Energy Progress [Member] | |||||
Related Party Transaction [Line Items] | |||||
Intercompany loan payable | 462,000,000 | ||||
Debt instrument, face amount | 1,350,000,000 | 800,000,000 | |||
Duke Energy Florida [Member] | |||||
Related Party Transaction [Line Items] | |||||
Intercompany loan payable | 84,000,000 | 181,000,000 | |||
Debt instrument, face amount | 225,000,000 | ||||
Duke Energy Ohio [Member] | |||||
Related Party Transaction [Line Items] | |||||
Transfer of Vermillion Generating Station | 28,000,000 | 28,000,000 | |||
Intercompany loan payable | 491,000,000 | 43,000,000 | |||
Debt instrument, face amount | 450,000,000 | ||||
Duke Energy Ohio [Member] | DECAM [Member] | |||||
Related Party Transaction [Line Items] | |||||
Intercompany loan payable | 459,000,000 | 43,000,000 | |||
Duke Energy Ohio [Member] | Vermillion Generation Station [Member] | |||||
Related Party Transaction [Line Items] | |||||
Transfer of Vermillion Generating Station | 26,000,000 | ||||
Parent Company [Member] | |||||
Related Party Transaction [Line Items] | |||||
Debt instrument, face amount | 1,000,000,000 | 1,400,000,000 | |||
Duke Energy Indiana [Member] | |||||
Related Party Transaction [Line Items] | |||||
Transfer of Vermillion Generating Station | 26,000,000 | 26,000,000 | |||
Intercompany loan payable | 71,000,000 | ||||
Debt instrument, face amount | 500,000,000 | ||||
Duke Energy Indiana [Member] | Vermillion Generation Station [Member] | |||||
Related Party Transaction [Line Items] | |||||
Transfer of Vermillion Generating Station | 28,000,000 | ||||
Unsecured Debt [Member] | Duke Energy Ohio [Member] | |||||
Related Party Transaction [Line Items] | |||||
Proceeds from (Repayments of) Debt | -402,000,000 | ||||
Unsecured Debt [Member] | Parent Company [Member] | |||||
Related Party Transaction [Line Items] | |||||
Debt instrument, face amount | $1,000,000,000 |
Derivatives_and_Hedging_Narrat
Derivatives and Hedging (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Derivative [Line Items] | |
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net | $10 |
Undesignated commodity contracts latest expiration year | 2018 |
Duke Energy Carolinas [Member] | |
Derivative [Line Items] | |
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net | 3 |
Progress Energy [Member] | |
Derivative [Line Items] | |
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net | $13 |
Derivatives_and_Hedging_Notion
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
dth | GWh | |
GWh | dth | |
Underlying Notional Amounts For Derivative Instruments Accounted For At Fair Value [Abstract] | ||
Electricity-energy (Gigawatt-hours) | 25,370 | 71,466 |
Natural gas (decatherms) | 676,000,000 | 636,000,000 |
Interest Rate Contracts [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 1,027 | 832 |
Interest Rate Contracts [Member] | Nondesignated [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 277 | 34 |
Interest Rate Contracts [Member] | Cash Flow Hedging [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 750 | 798 |
Interest Rate Contracts [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Cash Flow Hedging [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 541 | 584 |
Duke Energy Carolinas [Member] | ||
Underlying Notional Amounts For Derivative Instruments Accounted For At Fair Value [Abstract] | ||
Electricity-energy (Gigawatt-hours) | 1,205 | |
Natural gas (decatherms) | 35,000,000 | |
Progress Energy [Member] | ||
Underlying Notional Amounts For Derivative Instruments Accounted For At Fair Value [Abstract] | ||
Electricity-energy (Gigawatt-hours) | 925 | |
Natural gas (decatherms) | 328,000,000 | 363,000,000 |
Duke Energy Progress [Member] | ||
Underlying Notional Amounts For Derivative Instruments Accounted For At Fair Value [Abstract] | ||
Electricity-energy (Gigawatt-hours) | 925 | |
Natural gas (decatherms) | 116,000,000 | 141,000,000 |
Duke Energy Florida [Member] | ||
Underlying Notional Amounts For Derivative Instruments Accounted For At Fair Value [Abstract] | ||
Natural gas (decatherms) | 212,000,000 | 222,000,000 |
Duke Energy Florida [Member] | Interest Rate Contracts [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 250 | |
Duke Energy Florida [Member] | Interest Rate Contracts [Member] | Nondesignated [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 250 | |
Duke Energy Ohio [Member] | ||
Underlying Notional Amounts For Derivative Instruments Accounted For At Fair Value [Abstract] | ||
Electricity-energy (Gigawatt-hours) | 19,141 | 69,362 |
Natural gas (decatherms) | 313,000,000 | 274,000,000 |
Duke Energy Ohio [Member] | Interest Rate Contracts [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 27 | 27 |
Duke Energy Ohio [Member] | Interest Rate Contracts [Member] | Nondesignated [Member] | ||
Notional Amounts Of Derivative Instruments Related To Interest Rate Risk [Abstract] | ||
Derivative, Notional Amount | 27 | 27 |
Duke Energy Indiana [Member] | ||
Underlying Notional Amounts For Derivative Instruments Accounted For At Fair Value [Abstract] | ||
Electricity-energy (Gigawatt-hours) | 203 |
Derivatives_and_Hedging_Locati
Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Condensed Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $351 | $461 |
Location and fair value amounts of derivatives (Liability) | 909 | 636 |
Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 210 | 214 |
Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 136 | 233 |
Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 573 | 322 |
Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 319 | 299 |
Designated As Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 10 | 27 |
Location and fair value amounts of derivatives (Liability) | 42 | 23 |
Designated As Hedging Instrument [Member] | Interest Rate Contracts [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 10 | 27 |
Designated As Hedging Instrument [Member] | Interest Rate Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 13 | 18 |
Designated As Hedging Instrument [Member] | Interest Rate Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 29 | 4 |
Designated As Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 341 | 434 |
Location and fair value amounts of derivatives (Liability) | 867 | 613 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 7 | 4 |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 18 | 201 |
Location and fair value amounts of derivatives (Liability) | 158 | |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 15 | |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 215 |
Location and fair value amounts of derivatives (Liability) | 131 | |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Investments And Other Assets Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 15 | |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 13 |
Location and fair value amounts of derivatives (Liability) | 307 | 153 |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 174 | |
Location and fair value amounts of derivatives (Liability) | 253 | |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 5 |
Location and fair value amounts of derivatives (Liability) | 91 | 166 |
Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits and Other Liabilities Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 111 | |
Location and fair value amounts of derivatives (Liability) | 208 | |
Duke Energy Carolinas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 19 | 2 |
Duke Energy Carolinas [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 14 | |
Duke Energy Carolinas [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | |
Duke Energy Carolinas [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 19 | 2 |
Duke Energy Carolinas [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 14 | 1 |
Duke Energy Carolinas [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 1 |
Progress Energy [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 20 |
Location and fair value amounts of derivatives (Liability) | 371 | 204 |
Progress Energy [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 15 |
Progress Energy [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 5 | |
Progress Energy [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 289 | 107 |
Progress Energy [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 82 | 93 |
Progress Energy [Member] | Designated As Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 5 |
Progress Energy [Member] | Designated As Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Progress Energy [Member] | Designated As Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 4 | |
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 20 |
Location and fair value amounts of derivatives (Liability) | 370 | 199 |
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 2 | |
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Location and fair value amounts of derivatives (Liability) | 2 | |
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 1 | |
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 11 | |
Location and fair value amounts of derivatives (Liability) | 288 | 105 |
Progress Energy [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 80 | 91 |
Duke Energy Progress [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Location and fair value amounts of derivatives (Liability) | 132 | 71 |
Duke Energy Progress [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Duke Energy Progress [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Duke Energy Progress [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 109 | 41 |
Duke Energy Progress [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 23 | 30 |
Duke Energy Progress [Member] | Designated As Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Progress [Member] | Designated As Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Progress [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Location and fair value amounts of derivatives (Liability) | 131 | 70 |
Duke Energy Progress [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Progress [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 108 | 40 |
Duke Energy Progress [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 23 | 29 |
Duke Energy Florida [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 14 |
Location and fair value amounts of derivatives (Liability) | 239 | 129 |
Duke Energy Florida [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 12 |
Duke Energy Florida [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Florida [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 180 | 66 |
Duke Energy Florida [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 59 | 63 |
Duke Energy Florida [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 14 |
Location and fair value amounts of derivatives (Liability) | 239 | 129 |
Duke Energy Florida [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Florida [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 2 | |
Duke Energy Florida [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Location and fair value amounts of derivatives (Liability) | 2 | |
Duke Energy Florida [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 9 | |
Location and fair value amounts of derivatives (Liability) | 180 | 64 |
Duke Energy Florida [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 57 | 63 |
Duke Energy Ohio [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 341 | 391 |
Location and fair value amounts of derivatives (Liability) | 473 | 390 |
Duke Energy Ohio [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 204 | 186 |
Duke Energy Ohio [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 137 | 205 |
Duke Energy Ohio [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 257 | 199 |
Duke Energy Ohio [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 216 | 186 |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 341 | 391 |
Location and fair value amounts of derivatives (Liability) | 473 | 390 |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 5 | 4 |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 186 |
Location and fair value amounts of derivatives (Liability) | 163 | |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 28 | |
Location and fair value amounts of derivatives (Liability) | 4 | |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Investments And Other Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 202 | |
Location and fair value amounts of derivatives (Liability) | 130 | |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Investments And Other Assets Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 26 | |
Location and fair value amounts of derivatives (Liability) | 4 | |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 36 | |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Liabilities Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 175 | |
Location and fair value amounts of derivatives (Liability) | 252 | |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits And Other Liabilities, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 56 | |
Duke Energy Ohio [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Deferred Credits and Other Liabilities Assets Held For Sale [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 111 | |
Location and fair value amounts of derivatives (Liability) | 207 | |
Duke Energy Indiana [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 14 | 12 |
Duke Energy Indiana [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 14 | 12 |
Duke Energy Indiana [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 14 | 12 |
Duke Energy Indiana [Member] | Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Current Assets, Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $14 | $12 |
Derivatives_and_Hedging_Schedu
Derivatives and Hedging (Schedule of Offsetting Assets and Liabilities: Derivatives and Collateral Posted) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | $351 | $461 |
Net amounts recognized on the Consolidated Balance Sheet | 110 | 145 |
Gross amounts recognized | 909 | 636 |
Net amounts recognized on the Consolidated Balance Sheet | 668 | 321 |
Other Current Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 210 | 214 |
Gross amounts offset | -153 | -179 |
Net amount subject to master netting | 57 | 35 |
Net amounts recognized on the Consolidated Balance Sheet | 57 | 35 |
Other Noncurrent Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 136 | 233 |
Gross amounts offset | -88 | -138 |
Net amount subject to master netting | 48 | 95 |
Amounts not subject to master netting | 5 | 14 |
Net amounts recognized on the Consolidated Balance Sheet | 53 | 109 |
Other Current Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 573 | 322 |
Gross amounts offset | -213 | -192 |
Net amount subject to master netting | 360 | 130 |
Amounts not subject to master netting | 1 | 4 |
Net amounts recognized on the Consolidated Balance Sheet | 361 | 134 |
Other Noncurrent Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 319 | 299 |
Gross amounts offset | -173 | -155 |
Net amount subject to master netting | 146 | 144 |
Amounts not subject to master netting | 16 | 11 |
Net amounts recognized on the Consolidated Balance Sheet | 162 | 155 |
Duke Energy Carolinas [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 19 | 2 |
Net amounts recognized on the Consolidated Balance Sheet | 19 | 2 |
Duke Energy Carolinas [Member] | Other Current Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 14 | |
Net amount subject to master netting | 14 | |
Amounts not subject to master netting | 1 | |
Net amounts recognized on the Consolidated Balance Sheet | 14 | 1 |
Duke Energy Carolinas [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 5 | |
Net amount subject to master netting | 5 | |
Amounts not subject to master netting | 1 | |
Net amounts recognized on the Consolidated Balance Sheet | 5 | 1 |
Progress Energy [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 2 | 20 |
Net amounts recognized on the Consolidated Balance Sheet | 4 | 3 |
Gross amounts recognized | 371 | 204 |
Net amounts recognized on the Consolidated Balance Sheet | 373 | 187 |
Progress Energy [Member] | Other Current Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 2 | 15 |
Gross amounts offset | -2 | -13 |
Net amounts recognized on the Consolidated Balance Sheet | 2 | |
Progress Energy [Member] | Other Noncurrent Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 5 | |
Gross amounts offset | -4 | |
Net amounts recognized on the Consolidated Balance Sheet | 1 | |
Progress Energy [Member] | Other Current Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 289 | 107 |
Gross amounts offset | -17 | -17 |
Net amount subject to master netting | 272 | 90 |
Net amounts recognized on the Consolidated Balance Sheet | 272 | 90 |
Progress Energy [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 82 | 93 |
Gross amounts offset | -8 | -10 |
Net amount subject to master netting | 74 | 83 |
Amounts not subject to master netting | 4 | |
Net amounts recognized on the Consolidated Balance Sheet | 74 | 87 |
Duke Energy Progress [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 6 | |
Net amounts recognized on the Consolidated Balance Sheet | 1 | |
Gross amounts recognized | 132 | 71 |
Net amounts recognized on the Consolidated Balance Sheet | 132 | 66 |
Duke Energy Progress [Member] | Other Current Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 3 | |
Gross amounts offset | -3 | |
Duke Energy Progress [Member] | Other Noncurrent Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 3 | |
Gross amounts offset | -3 | |
Duke Energy Progress [Member] | Other Current Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 109 | 41 |
Gross amounts offset | -3 | |
Net amounts recognized on the Consolidated Balance Sheet | 109 | 38 |
Duke Energy Progress [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 23 | 30 |
Gross amounts offset | -3 | |
Net amounts recognized on the Consolidated Balance Sheet | 23 | 27 |
Duke Energy Florida [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 2 | 14 |
Net amounts recognized on the Consolidated Balance Sheet | 4 | 1 |
Gross amounts recognized | 239 | 129 |
Net amounts recognized on the Consolidated Balance Sheet | 241 | 116 |
Duke Energy Florida [Member] | Other Current Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 2 | 12 |
Gross amounts offset | -2 | -10 |
Net amounts recognized on the Consolidated Balance Sheet | 2 | |
Duke Energy Florida [Member] | Other Noncurrent Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 2 | |
Gross amounts offset | -2 | |
Duke Energy Florida [Member] | Other Current Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 180 | 66 |
Gross amounts offset | -17 | -15 |
Net amounts recognized on the Consolidated Balance Sheet | 163 | 51 |
Duke Energy Florida [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 59 | 63 |
Gross amounts offset | -8 | -7 |
Net amounts recognized on the Consolidated Balance Sheet | 51 | 56 |
Duke Energy Ohio [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 341 | 391 |
Net amounts recognized on the Consolidated Balance Sheet | 49 | 96 |
Gross amounts recognized | 473 | 390 |
Net amounts recognized on the Consolidated Balance Sheet | 181 | 95 |
Duke Energy Ohio [Member] | Other Current Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 204 | 186 |
Gross amounts offset | -179 | -165 |
Net amounts recognized on the Consolidated Balance Sheet | 25 | 21 |
Duke Energy Ohio [Member] | Other Noncurrent Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 137 | 205 |
Gross amounts offset | -114 | -132 |
Net amounts recognized on the Consolidated Balance Sheet | 23 | 73 |
Duke Energy Ohio [Member] | Other Current Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 257 | 199 |
Gross amounts offset | -222 | -173 |
Net amount subject to master netting | 35 | 26 |
Amounts not subject to master netting | 1 | |
Net amounts recognized on the Consolidated Balance Sheet | 35 | 27 |
Duke Energy Ohio [Member] | Other Noncurrent Liabilities [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 216 | 186 |
Gross amounts offset | -193 | -143 |
Net amount subject to master netting | 23 | 43 |
Amounts not subject to master netting | 4 | |
Net amounts recognized on the Consolidated Balance Sheet | 23 | 47 |
Duke Energy Indiana [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 14 | 12 |
Net amounts recognized on the Consolidated Balance Sheet | 14 | 12 |
Duke Energy Indiana [Member] | Other Current Assets [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Gross amounts recognized | 14 | 12 |
Gross amounts offset | -1 | |
Net amounts recognized on the Consolidated Balance Sheet | $14 | $11 |
Derivatives_and_Hedging_Cash_F
Derivatives and Hedging (Cash Flow Hedges - Location and Amount of PreTax Recognized in Comprehensive Income) (Details) (Designated As Hedging Instrument [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recorded in AOCI | ($39) | $80 | ($22) |
Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recorded in AOCI | -39 | 79 | -23 |
Commodity Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recorded in AOCI | 1 | 1 | |
Progress Energy [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recorded in AOCI | 1 | -10 | |
Progress Energy [Member] | Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recorded in AOCI | -11 | ||
Progress Energy [Member] | Commodity Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recorded in AOCI | 1 | 1 | |
Duke Energy Progress [Member] | Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recorded in AOCI | -7 | ||
Duke Energy Florida [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recorded in AOCI | 1 | -1 | |
Duke Energy Florida [Member] | Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recorded in AOCI | -2 | ||
Duke Energy Florida [Member] | Commodity Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recorded in AOCI | 1 | 1 | |
Interest Rate Contracts [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | -7 | -2 | 2 |
Interest Rate Contracts [Member] | Duke Energy Carolinas [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | -3 | -3 | -3 |
Interest Rate Contracts [Member] | Progress Energy [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | -13 | -14 | |
Interest Rate Contracts [Member] | Duke Energy Progress [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | -5 | ||
Interest Rate Contracts [Member] | Duke Energy Florida [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | -2 | -2 | |
Interest Rate Contracts [Member] | Duke Energy Indiana [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | 3 | 3 | |
Regulatory Asset [Member] | Interest Rate Contracts [Member] | Progress Energy [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -159 | ||
Regulatory Asset [Member] | Interest Rate Contracts [Member] | Duke Energy Progress [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -117 | ||
Regulatory Asset [Member] | Interest Rate Contracts [Member] | Duke Energy Florida [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | ($42) |
Derivatives_and_Hedging_Undesi
Derivatives and Hedging (Undesignated Contracts - Location and Amount of PreTax Gains and (Losses) Recognized in Income or As Regulatory Assets or Liabilities) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recognized in earnings | ($6) | ($18) | ($8) |
Nondesignated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recognized in earnings | -779 | -264 | -187 |
Pretax gains (losses) recognized as regulatory assets or liabilities | -252 | 80 | 44 |
Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -268 | 10 | -2 |
Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Liability [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 14 | 15 | 36 |
Nondesignated [Member] | Commodity Contracts [Member] | Revenue Regulated Electric [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | 11 | -23 | |
Nondesignated [Member] | Commodity Contracts [Member] | Fuel Used In Electric Generation And Purchased Power Regulated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -44 | -200 | -194 |
Nondesignated [Member] | Commodity Contracts [Member] | Income (loss) from Discontinued Operations [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -729 | -57 | 40 |
Nondesignated [Member] | Commodity Contracts [Member] | Other Income And Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -2 | ||
Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 55 | 10 | |
Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Liability [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 2 | ||
Duke Energy Carolinas [Member] | Nondesignated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recognized in earnings | -12 | -12 | |
Duke Energy Carolinas [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -19 | ||
Duke Energy Carolinas [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Revenue Regulated Electric [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -12 | -12 | |
Progress Energy [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recognized in earnings | -4 | -17 | -8 |
Progress Energy [Member] | Nondesignated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recognized in earnings | -48 | -206 | -466 |
Pretax gains (losses) recognized as regulatory assets or liabilities | -229 | 28 | -165 |
Progress Energy [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -233 | 10 | -171 |
Progress Energy [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Liability [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 2 | ||
Progress Energy [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Revenue Regulated Electric [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | 11 | -11 | |
Progress Energy [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Fuel Used In Electric Generation And Purchased Power Regulated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -44 | -200 | -454 |
Progress Energy [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Other Income And Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | 7 | ||
Progress Energy [Member] | Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 2 | 18 | 6 |
Duke Energy Progress [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recognized in earnings | -13 | -6 | |
Duke Energy Progress [Member] | Nondesignated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recognized in earnings | -15 | -73 | -132 |
Pretax gains (losses) recognized as regulatory assets or liabilities | -82 | 7 | -49 |
Duke Energy Progress [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -82 | -6 | -55 |
Duke Energy Progress [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Revenue Regulated Electric [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | 11 | -11 | |
Duke Energy Progress [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Fuel Used In Electric Generation And Purchased Power Regulated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -15 | -71 | -115 |
Duke Energy Progress [Member] | Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 13 | 6 | |
Duke Energy Florida [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recognized in earnings | -4 | -5 | -2 |
Duke Energy Florida [Member] | Nondesignated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recognized in earnings | -33 | -134 | -341 |
Pretax gains (losses) recognized as regulatory assets or liabilities | -147 | 21 | -116 |
Duke Energy Florida [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -151 | 16 | -116 |
Duke Energy Florida [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Fuel Used In Electric Generation And Purchased Power Regulated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -29 | -129 | -339 |
Duke Energy Florida [Member] | Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 2 | 5 | |
Duke Energy Florida [Member] | Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Liability [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 2 | ||
Duke Energy Ohio [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on interest rate contracts recognized in earnings | -1 | -1 | -1 |
Duke Energy Ohio [Member] | Nondesignated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total pretax gains (losses) recognized in earnings | -759 | -57 | 77 |
Pretax gains (losses) recognized as regulatory assets or liabilities | 4 | 4 | 1 |
Duke Energy Ohio [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 1 | 2 | |
Duke Energy Ohio [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Liability [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 5 | -1 | |
Duke Energy Ohio [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Income (loss) from Discontinued Operations [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | -758 | -56 | 78 |
Duke Energy Ohio [Member] | Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -2 | 4 | |
Duke Energy Indiana [Member] | Nondesignated [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -7 | 50 | 41 |
Duke Energy Indiana [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | -16 | 2 | |
Duke Energy Indiana [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Regulatory Liability [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | 9 | 16 | 35 |
Duke Energy Indiana [Member] | Nondesignated [Member] | Commodity Contracts [Member] | Revenue Regulated Electric [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) on commodity contracts recognized in earnings | 1 | ||
Duke Energy Indiana [Member] | Nondesignated [Member] | Interest Rate Contracts [Member] | Regulatory Asset [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Pretax gains (losses) recognized as regulatory assets or liabilities | $34 | $4 |
Derivatives_and_Hedging_Deriva
Derivatives and Hedging (Derivative Instruments That Contain Credit-Risk Related Contingent Features and Cash Collateral) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value amounts of derivative instruments in a net liability position | $845 | $525 |
Collateral already posted | 209 | 135 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period | 407 | 205 |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Amounts offset against derivative positions on the net condensed Consolidated Balance Sheets, Payables | 145 | 30 |
Derivative, collateral, right to reclaim cash - not offset against net derivative | 64 | 122 |
Duke Energy Carolinas [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value amounts of derivative instruments in a net liability position | 19 | |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period | 19 | |
Progress Energy [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value amounts of derivative instruments in a net liability position | 370 | 168 |
Collateral already posted | 23 | 10 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period | 347 | 158 |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Amounts offset against derivative positions on the net condensed Consolidated Balance Sheets, Payables | 23 | 10 |
Duke Energy Progress [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value amounts of derivative instruments in a net liability position | 131 | 60 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period | 131 | 60 |
Duke Energy Florida [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value amounts of derivative instruments in a net liability position | 239 | 108 |
Collateral already posted | 23 | 10 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period | 216 | 98 |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Amounts offset against derivative positions on the net condensed Consolidated Balance Sheets, Payables | 23 | 10 |
Duke Energy Ohio [Member] | ||
Schedule Of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value amounts of derivative instruments in a net liability position | 456 | 355 |
Collateral already posted | 186 | 125 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period | 41 | 47 |
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Amounts offset against derivative positions on the net condensed Consolidated Balance Sheets, Payables | 122 | 19 |
Derivative, collateral, right to reclaim cash - not offset against net derivative | 64 | 115 |
Duke Energy Indiana [Member] | ||
Information Regarding Cash Collateral Under Master Netting Arrangements | ||
Amounts offset against derivative positions on the net condensed Consolidated Balance Sheets, Receivables | 1 | |
Derivative, collateral, right to reclaim cash - not offset against net derivative | $1 |
Investments_in_Debt_and_Equity2
Investments in Debt and Equity Securities (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ||
Trading Securities | $7 | $18 |
Short-term investments | $44 |
Investments_in_Debt_and_Equity3
Investments in Debt and Equity Securities (Available-For-Sale Investments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | $2,004 | $1,884 |
Gross Unrealized Holding Losses | 38 | 47 |
Estimated Fair Value | 5,901 | 5,551 |
NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,965 | 1,852 |
Gross Unrealized Holding Losses | 35 | 36 |
Estimated Fair Value | 5,549 | 5,133 |
NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 136 | 110 |
NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,926 | 1,813 |
Gross Unrealized Holding Losses | 29 | 10 |
Estimated Fair Value | 3,650 | 3,579 |
NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 14 | 8 |
Gross Unrealized Holding Losses | 2 | 6 |
Estimated Fair Value | 454 | 400 |
NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 5 | 2 |
Gross Unrealized Holding Losses | 6 | |
Estimated Fair Value | 184 | 160 |
NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 19 | 7 |
Gross Unrealized Holding Losses | 2 | 12 |
Estimated Fair Value | 978 | 730 |
NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | 22 |
Gross Unrealized Holding Losses | 2 | 2 |
Estimated Fair Value | 147 | 154 |
Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 39 | 32 |
Gross Unrealized Holding Losses | 3 | 11 |
Estimated Fair Value | 352 | 418 |
Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 15 | 21 |
Other Classification [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 34 | 29 |
Estimated Fair Value | 96 | 91 |
Other Classification [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | 1 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 58 | 99 |
Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 2 |
Gross Unrealized Holding Losses | 1 | 2 |
Estimated Fair Value | 76 | 79 |
Other Classification [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 27 | 17 |
Other Classification [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | |
Gross Unrealized Holding Losses | 1 | 8 |
Estimated Fair Value | 80 | 111 |
Duke Energy Carolinas [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,119 | 1,004 |
Gross Unrealized Holding Losses | 23 | 23 |
Estimated Fair Value | 3,035 | 2,837 |
Duke Energy Carolinas [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,119 | 1,004 |
Gross Unrealized Holding Losses | 22 | 22 |
Estimated Fair Value | 3,032 | 2,834 |
Duke Energy Carolinas [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 51 | 42 |
Duke Energy Carolinas [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1,102 | 974 |
Gross Unrealized Holding Losses | 17 | 6 |
Estimated Fair Value | 2,162 | 1,964 |
Duke Energy Carolinas [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 8 | 5 |
Gross Unrealized Holding Losses | 2 | 5 |
Estimated Fair Value | 316 | 274 |
Duke Energy Carolinas [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | |
Gross Unrealized Holding Losses | 2 | |
Estimated Fair Value | 62 | 54 |
Duke Energy Carolinas [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 7 | 3 |
Gross Unrealized Holding Losses | 1 | 7 |
Estimated Fair Value | 308 | 354 |
Duke Energy Carolinas [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | 22 |
Gross Unrealized Holding Losses | 2 | 2 |
Estimated Fair Value | 133 | 146 |
Duke Energy Carolinas [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 3 | 3 |
Duke Energy Carolinas [Member] | Other Classification [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 3 | 3 |
Progress Energy [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 849 | 849 |
Gross Unrealized Holding Losses | 13 | 14 |
Estimated Fair Value | 2,575 | 2,358 |
Progress Energy [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 846 | 848 |
Gross Unrealized Holding Losses | 13 | 14 |
Estimated Fair Value | 2,517 | 2,299 |
Progress Energy [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 85 | 68 |
Progress Energy [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 824 | 839 |
Gross Unrealized Holding Losses | 12 | 4 |
Estimated Fair Value | 1,488 | 1,615 |
Progress Energy [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 6 | 3 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 138 | 126 |
Progress Energy [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 4 | 2 |
Gross Unrealized Holding Losses | 4 | |
Estimated Fair Value | 122 | 106 |
Progress Energy [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 12 | 4 |
Gross Unrealized Holding Losses | 1 | 5 |
Estimated Fair Value | 670 | 376 |
Progress Energy [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 14 | 8 |
Progress Energy [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 1 |
Estimated Fair Value | 58 | 59 |
Progress Energy [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 15 | 20 |
Progress Energy [Member] | Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 1 |
Estimated Fair Value | 43 | 39 |
Duke Energy Progress [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 630 | 544 |
Gross Unrealized Holding Losses | 11 | 11 |
Estimated Fair Value | 1,711 | 1,540 |
Duke Energy Progress [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 630 | 544 |
Gross Unrealized Holding Losses | 11 | 11 |
Estimated Fair Value | 1,711 | 1,538 |
Duke Energy Progress [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 50 | 48 |
Duke Energy Progress [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 612 | 535 |
Gross Unrealized Holding Losses | 10 | 3 |
Estimated Fair Value | 1,171 | 1,069 |
Duke Energy Progress [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 5 | 3 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 97 | 80 |
Duke Energy Progress [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 4 | 2 |
Gross Unrealized Holding Losses | 4 | |
Estimated Fair Value | 120 | 104 |
Duke Energy Progress [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 9 | 4 |
Gross Unrealized Holding Losses | 1 | 3 |
Estimated Fair Value | 265 | 232 |
Duke Energy Progress [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 8 | 5 |
Duke Energy Progress [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 2 | |
Duke Energy Progress [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 2 | |
Duke Energy Florida [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 219 | 305 |
Gross Unrealized Holding Losses | 2 | 3 |
Estimated Fair Value | 850 | 803 |
Duke Energy Florida [Member] | NDTF [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 216 | 304 |
Gross Unrealized Holding Losses | 2 | 3 |
Estimated Fair Value | 806 | 761 |
Duke Energy Florida [Member] | NDTF [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 35 | 20 |
Duke Energy Florida [Member] | NDTF [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 212 | 304 |
Gross Unrealized Holding Losses | 2 | 1 |
Estimated Fair Value | 317 | 546 |
Duke Energy Florida [Member] | NDTF [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 1 | |
Estimated Fair Value | 41 | 46 |
Duke Energy Florida [Member] | NDTF [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 2 | 2 |
Duke Energy Florida [Member] | NDTF [Member] | US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | |
Gross Unrealized Holding Losses | 2 | |
Estimated Fair Value | 405 | 144 |
Duke Energy Florida [Member] | NDTF [Member] | Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 6 | 3 |
Duke Energy Florida [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 1 |
Estimated Fair Value | 44 | 42 |
Duke Energy Florida [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 1 | 3 |
Duke Energy Florida [Member] | Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 3 | 1 |
Estimated Fair Value | 43 | 39 |
Duke Energy Indiana [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 28 | 24 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 101 | 94 |
Duke Energy Indiana [Member] | Other Classification [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 28 | 24 |
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | 101 | 94 |
Duke Energy Indiana [Member] | Other Classification [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value | 1 | |
Duke Energy Indiana [Member] | Other Classification [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Gains | 28 | 24 |
Estimated Fair Value | 71 | 65 |
Duke Energy Indiana [Member] | Other Classification [Member] | Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Holding Losses | 1 | 1 |
Estimated Fair Value | $30 | $28 |
Investments_in_Debt_and_Equity4
Investments in Debt and Equity Securities (Maturities) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Debt Instrument [Line Items] | |
Due in one year or less | $178 |
Due after one through five years | 571 |
Due after five through ten years | 464 |
Due after ten years | 791 |
Total | 2,004 |
Duke Energy Carolinas [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 1 |
Due after one through five years | 155 |
Due after five through ten years | 257 |
Due after ten years | 409 |
Total | 822 |
Progress Energy [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 161 |
Due after one through five years | 350 |
Due after five through ten years | 157 |
Due after ten years | 319 |
Total | 987 |
Duke Energy Progress [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 14 |
Due after one through five years | 140 |
Due after five through ten years | 109 |
Due after ten years | 227 |
Total | 490 |
Duke Energy Florida [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 147 |
Due after one through five years | 210 |
Due after five through ten years | 48 |
Due after ten years | 92 |
Total | 497 |
Duke Energy Indiana [Member] | |
Debt Instrument [Line Items] | |
Due in one year or less | 1 |
Due after one through five years | 17 |
Due after five through ten years | 8 |
Due after ten years | 4 |
Total | $30 |
Investments_in_Debt_and_Equity5
Investments in Debt and Equity Securities Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | $271 | $209 | $117 |
Realized losses | 105 | 65 | 19 |
Duke Energy Carolinas [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 109 | 115 | 89 |
Realized losses | 93 | 12 | 6 |
Progress Energy [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 157 | 90 | 34 |
Realized losses | 11 | 46 | 18 |
Duke Energy Progress [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 19 | 58 | 21 |
Realized losses | 5 | 26 | 8 |
Duke Energy Florida [Member] | |||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | |||
Realized gains | 138 | 32 | 13 |
Realized losses | $5 | $20 | $9 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | $110 | $145 |
Assets, fair value disclosure | 6,018 | 5,712 |
Derivative liabilities | -668 | -321 |
Net assets, fair value | 5,350 | 5,391 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 49 | 33 |
Assets, fair value disclosure | 4,327 | 4,057 |
Derivative liabilities | -162 | 11 |
Net assets, fair value | 4,165 | 4,068 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 24 | 70 |
Assets, fair value disclosure | 1,498 | 1,515 |
Derivative liabilities | -468 | -303 |
Net assets, fair value | 1,030 | 1,212 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 37 | 42 |
Assets, fair value disclosure | 193 | 140 |
Derivative liabilities | -38 | -29 |
Net assets, fair value | 155 | 111 |
Duke Energy Carolinas [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 3,035 | 2,837 |
Derivative liabilities | -19 | -2 |
Net assets, fair value | 3,016 | 2,835 |
Duke Energy Carolinas [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 2,143 | 2,047 |
Net assets, fair value | 2,143 | 2,047 |
Duke Energy Carolinas [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 738 | 709 |
Derivative liabilities | -19 | |
Net assets, fair value | 719 | 709 |
Duke Energy Carolinas [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 154 | 81 |
Derivative liabilities | -2 | |
Net assets, fair value | 154 | 79 |
Progress Energy [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 4 | 3 |
Assets, fair value disclosure | 2,579 | 2,353 |
Derivative liabilities | -373 | -187 |
Net assets, fair value | 2,206 | 2,166 |
Progress Energy [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 2,013 | 1,867 |
Net assets, fair value | 2,013 | 1,867 |
Progress Energy [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 4 | 3 |
Assets, fair value disclosure | 566 | 486 |
Derivative liabilities | -373 | -187 |
Net assets, fair value | 193 | 299 |
Duke Energy Progress [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1 | |
Assets, fair value disclosure | 1,711 | 1,543 |
Derivative liabilities | -132 | -66 |
Net assets, fair value | 1,579 | 1,477 |
Duke Energy Progress [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 1,322 | 1,209 |
Net assets, fair value | 1,322 | 1,209 |
Duke Energy Progress [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1 | |
Assets, fair value disclosure | 389 | 334 |
Derivative liabilities | -132 | -66 |
Net assets, fair value | 257 | 268 |
Duke Energy Florida [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 4 | 1 |
Assets, fair value disclosure | 854 | 801 |
Derivative liabilities | -241 | -116 |
Net assets, fair value | 613 | 685 |
Duke Energy Florida [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, fair value disclosure | 676 | 644 |
Net assets, fair value | 676 | 644 |
Duke Energy Florida [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 4 | 1 |
Assets, fair value disclosure | 178 | 157 |
Derivative liabilities | -241 | -116 |
Net assets, fair value | -63 | 41 |
Duke Energy Ohio [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 49 | 96 |
Derivative liabilities | -181 | -95 |
Net assets, fair value | -132 | 1 |
Duke Energy Ohio [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | 50 |
Derivative liabilities | -117 | -1 |
Net assets, fair value | -97 | 49 |
Duke Energy Ohio [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 9 | 21 |
Derivative liabilities | -26 | -65 |
Net assets, fair value | -17 | -44 |
Duke Energy Ohio [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | 25 |
Derivative liabilities | -38 | -29 |
Net assets, fair value | -18 | -4 |
Duke Energy Indiana [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 14 | 12 |
Net assets, fair value | 115 | 106 |
Duke Energy Indiana [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net assets, fair value | 71 | 65 |
Duke Energy Indiana [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net assets, fair value | 30 | 29 |
Duke Energy Indiana [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 14 | 12 |
Net assets, fair value | 14 | 12 |
NDTF [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3,650 | 3,579 |
NDTF [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3,493 | 3,495 |
NDTF [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 6 | 57 |
NDTF [Member] | Equity Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 151 | 27 |
NDTF [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,899 | 1,553 |
NDTF [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 648 | 402 |
NDTF [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,251 | 1,100 |
NDTF [Member] | Debt Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 51 | |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 2,162 | 1,964 |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 2,005 | 1,879 |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 6 | 58 |
NDTF [Member] | Duke Energy Carolinas [Member] | Equity Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 151 | 27 |
NDTF [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 870 | 870 |
NDTF [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 138 | 168 |
NDTF [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 732 | 651 |
NDTF [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 51 | |
NDTF [Member] | Progress Energy [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,488 | 1,615 |
NDTF [Member] | Progress Energy [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,488 | 1,615 |
NDTF [Member] | Progress Energy [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,029 | 677 |
NDTF [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 510 | 233 |
NDTF [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 519 | 444 |
NDTF [Member] | Duke Energy Progress [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,171 | 1,069 |
NDTF [Member] | Duke Energy Progress [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 1,171 | 1,069 |
NDTF [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 540 | 470 |
NDTF [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 151 | 137 |
NDTF [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 389 | 333 |
NDTF [Member] | Duke Energy Florida [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 317 | 546 |
NDTF [Member] | Duke Energy Florida [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 317 | 546 |
NDTF [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 489 | 214 |
NDTF [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 359 | 96 |
NDTF [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 130 | 118 |
Other Classification [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 96 | 102 |
Other Classification [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 96 | 91 |
Other Classification [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 11 | |
Other Classification [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 263 | 333 |
Other Classification [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 41 | 36 |
Other Classification [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 217 | 277 |
Other Classification [Member] | Debt Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 5 | 20 |
Other Classification [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3 | 3 |
Other Classification [Member] | Duke Energy Carolinas [Member] | Debt Securities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3 | 3 |
Other Classification [Member] | Progress Energy [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 58 | 58 |
Other Classification [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 15 | 19 |
Other Classification [Member] | Progress Energy [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 43 | 39 |
Other Classification [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3 | |
Other Classification [Member] | Duke Energy Progress [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 3 | |
Other Classification [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 44 | 40 |
Other Classification [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 2 | |
Other Classification [Member] | Duke Energy Florida [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments | 44 | 38 |
Other Classification [Member] | Duke Energy Indiana [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, equity securities | 71 | 65 |
Other Classification [Member] | Duke Energy Indiana [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, equity securities | 71 | 65 |
Other Classification [Member] | Duke Energy Indiana [Member] | Debt Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, debt securities | 30 | 29 |
Other Classification [Member] | Duke Energy Indiana [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities, debt securities | $30 | $29 |
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 $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $111 | $13 | $85 |
Amounts Acquired in Progress Energy Merger | -30 | ||
Total pretax gains (losses) included in earnings | -7 | -42 | 8 |
Total pretax gains (losses) included in comprehensive income | 13 | ||
Purchases | 84 | 30 | 36 |
Sales | -58 | -6 | -2 |
Issuances | -11 | -15 | |
Settlements | -54 | 16 | -87 |
Transfers in and/or out of level 3 | 74 | 86 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 6 | 86 | |
Total gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 5 | 3 | 5 |
Ending balance | 155 | 111 | 13 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||
Beginning balance | 13 | -85 | -39 |
Amounts Acquired in Progress Energy Merger | -30 | ||
Total pretax gains (losses) included in earnings | -7 | -42 | 8 |
Purchases | 50 | 21 | 22 |
Issuances | -11 | -15 | |
Settlements | -54 | 25 | -32 |
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | -9 | -3 | 1 |
Ending balance | -1 | 13 | -85 |
Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at end of period | -14 | ||
Investments [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 98 | 98 | 124 |
Total pretax gains (losses) included in comprehensive income | 13 | ||
Purchases | 34 | 9 | 14 |
Sales | -58 | -6 | -2 |
Settlements | -9 | -55 | |
Transfers in and/or out of level 3 | 68 | ||
Total gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 14 | 6 | 4 |
Ending balance | 156 | 98 | 98 |
Derivative [Member] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||
Pretax amounts included in the Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at end of period | -14 | ||
Duke Energy Carolinas [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 79 | 60 | 65 |
Total pretax gains (losses) included in comprehensive income | 2 | ||
Purchases | 34 | 9 | 14 |
Sales | -43 | -14 | |
Issuances | -6 | -2 | |
Settlements | 2 | 10 | -9 |
Transfers in and/or out of level 3 | 68 | ||
Total gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 14 | 6 | 4 |
Ending balance | 154 | 79 | 60 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||
Beginning balance | -2 | -12 | |
Sales | -14 | ||
Settlements | 2 | 10 | 2 |
Ending balance | -2 | -12 | |
Duke Energy Carolinas [Member] | Investments [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 81 | 72 | 65 |
Total pretax gains (losses) included in comprehensive income | 2 | ||
Purchases | 34 | 9 | 14 |
Sales | -43 | ||
Issuances | -6 | -2 | |
Settlements | -11 | ||
Transfers in and/or out of level 3 | 68 | ||
Total gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 14 | 6 | 4 |
Ending balance | 154 | 81 | 72 |
Progress Energy [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 34 | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||
Beginning balance | -38 | -24 | |
Total pretax gains (losses) included in earnings | 1 | ||
Issuances | -10 | 16 | |
Settlements | 4 | ||
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | -6 | -3 | |
Ending balance | -38 | ||
Duke Energy Progress [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 34 | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||
Beginning balance | -38 | -24 | |
Total pretax gains (losses) included in earnings | 1 | ||
Issuances | -10 | 16 | |
Settlements | 4 | ||
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | -6 | -3 | |
Ending balance | -38 | ||
Duke Energy Ohio [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers out of Level 3 | 6 | 43 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||
Beginning balance | -4 | -6 | -3 |
Total pretax gains (losses) included in earnings | -9 | -42 | -3 |
Purchases | 1 | 1 | |
Settlements | -13 | 1 | |
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | 1 | -1 | |
Ending balance | -18 | -4 | -6 |
Duke Energy Indiana [Member] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||
Beginning balance | 12 | 10 | 4 |
Total pretax gains (losses) included in earnings | 3 | 8 | 36 |
Purchases | 49 | 20 | |
Issuances | -22 | ||
Settlements | -41 | -30 | -52 |
Total Gains (losses) included on the Consolidated Balance Sheet as regulatory asset or liability | -9 | 4 | |
Ending balance | $14 | $12 | $10 |
Fair_Value_Measurements_Quanti
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosure) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | ($1) | $13 | ($85) | ($39) |
Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -5 | -2 | ||
Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair Value Inputs Price Per MMBtu | 2.12 | 3.07 | ||
Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair Value Inputs Price Per MMBtu | 4.35 | 5.37 | ||
FERC Mitigation Power Sale Agreements [Member] | Discounted Cash Flow [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -2 | |||
FERC Mitigation Power Sale Agreements [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 25.79 | |||
FERC Mitigation Power Sale Agreements [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 52.38 | |||
Financial Transmission Rights [Member] | Market Approach Valuation Technique [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | 14 | 12 | ||
Financial Transmission Rights [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | -1.92 | -0.3 | ||
Financial Transmission Rights [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 9.86 | 13.8 | ||
Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -1 | 23 | ||
Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 25.16 | 20.77 | ||
Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 51.75 | 58.9 | ||
Commodity Capacity Option Contracts [Member] | Discounted Cash Flow [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | 2 | 4 | ||
Commodity Capacity Option Contracts [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair Value Inputs Price Per Mwd | 21 | 30.4 | ||
Commodity Capacity Option Contracts [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair Value Inputs Price Per Mwd | 109 | 165.1 | ||
Derivative Financial Instruments Liabilities Reserves [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -11 | -22 | ||
Duke Energy Carolinas [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -2 | -12 | ||
Duke Energy Carolinas [Member] | FERC Mitigation Power Sale Agreements [Member] | Discounted Cash Flow [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -2 | |||
Duke Energy Carolinas [Member] | FERC Mitigation Power Sale Agreements [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 25.79 | |||
Duke Energy Carolinas [Member] | FERC Mitigation Power Sale Agreements [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 52.38 | |||
Progress Energy [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -38 | -24 | ||
Duke Energy Progress [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -38 | -24 | ||
Duke Energy Ohio [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -18 | -4 | -6 | -3 |
Duke Energy Ohio [Member] | Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -5 | -2 | ||
Duke Energy Ohio [Member] | Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair Value Inputs Price Per MMBtu | 2.12 | 3.07 | ||
Duke Energy Ohio [Member] | Commodity Natural Gas Hedges [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair Value Inputs Price Per MMBtu | 4.35 | 5.37 | ||
Duke Energy Ohio [Member] | Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -6 | 18 | ||
Duke Energy Ohio [Member] | Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 25.25 | 20.77 | ||
Duke Energy Ohio [Member] | Commodity Power Contracts [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price per MWh | 51.75 | 58.9 | ||
Duke Energy Ohio [Member] | Derivative Financial Instruments Liabilities Reserves [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | -7 | -20 | ||
Duke Energy Indiana [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | 14 | 12 | 10 | 4 |
Duke Energy Indiana [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Net derivative asset (liability) | $14 | $12 | ||
Duke Energy Indiana [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | Minimum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price FTR | -1.92 | -0.3 | ||
Duke Energy Indiana [Member] | Financial Transmission Rights [Member] | RTO Market Pricing [Member] | Maximum [Member] | ||||
Net Derivative Asset (Liability) Fair Value Inputs [Line Items] | ||||
Fair value inputs, price FTR | 9.86 | 13.8 |
Fair_Value_Measurements_Additi
Fair Value Measurements (Additional Fair Value Disclosure) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $40,020 | $40,256 |
Long-term debt, fair value | 44,566 | 42,592 |
Duke Energy Carolinas [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 8,391 | 8,436 |
Long-term debt, fair value | 9,626 | 9,123 |
Progress Energy [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 14,754 | 14,115 |
Long-term debt, fair value | 16,951 | 15,234 |
Duke Energy Progress [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 6,201 | 5,235 |
Long-term debt, fair value | 6,696 | 5,323 |
Duke Energy Florida [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 4,860 | 4,886 |
Long-term debt, fair value | 5,767 | 5,408 |
Duke Energy Ohio [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 1,766 | 2,188 |
Long-term debt, fair value | 1,970 | 2,237 |
Duke Energy Indiana [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 3,791 | 3,796 |
Long-term debt, fair value | $4,456 | $4,171 |
Variable_Interest_Entities_Nar
Variable Interest Entities (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Variable Interest Entity [Line Items] | |||
Impairment charges | $81 | $399 | $666 |
Cinergy Receivables [Member] | |||
Variable Interest Entity [Line Items] | |||
Minimum Equity Balance required by Cinergy Receivables | 3 | ||
Line of credit facility, expiration date | 1-Nov-16 | ||
Cinergy Receivables [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Percent of proceeds received as cash | 75.00% | ||
Percent of proceeds received as subordinated note | 25.00% | ||
Duke Energy Carolinas [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 3 | 31 | |
Duke Energy Carolinas [Member] | DERF [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Line of credit facility, expiration date | 1-Oct-16 | ||
Duke Energy Progress [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | -18 | 22 | 54 |
Duke Energy Progress [Member] | DEPR [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Line of credit facility, expiration date | 1-Dec-16 | ||
Duke Energy Florida [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 2 | 358 | 146 |
Duke Energy Ohio [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 94 | 5 | 2 |
Duke Energy Ohio [Member] | Cinergy Receivables [Member] | |||
Variable Interest Entity [Line Items] | |||
Fixed rate used when selling receivables | 1.00% | ||
Duke Energy Ohio [Member] | Other VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 94 | ||
Duke Energy Ohio [Member] | Other VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Ownership interest in OVEC | 9.00% | ||
Duke Energy Indiana [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | $0 | $0 | $579 |
Duke Energy Indiana [Member] | Cinergy Receivables [Member] | |||
Variable Interest Entity [Line Items] | |||
Fixed rate used when selling receivables | 1.00% |
Variable_Interest_Entities_Con
Variable Interest Entities (Consolidated VIEs) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | $1,973 | $1,719 |
Other current assets | 1,837 | 1,821 |
Investments and other assets | 3,008 | 3,432 |
Total property, plant and equipment | 104,861 | 103,115 |
Accumulated depreciation and amortization | -34,824 | -33,625 |
Other deferred debits | 171 | 181 |
Accounts payable | 2,271 | 2,391 |
Current maturities of long-term debt | 2,807 | 2,104 |
Other current liabilities | 2,188 | 1,996 |
Long-Term debt | 37,213 | 38,152 |
Deferred income taxes | 13,423 | 12,097 |
Asset retirement obligations | 8,466 | 4,950 |
Other liabilities | 1,675 | 1,749 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 1,973 | 1,719 |
Other current assets | 74 | 101 |
Investments and other assets | 50 | 80 |
Total property, plant and equipment | 1,873 | 1,680 |
Accumulated depreciation and amortization | -255 | -175 |
Other deferred debits | 36 | 36 |
Total assets | 3,751 | 3,441 |
Accounts payable | 3 | 2 |
Taxes accrued | 6 | 10 |
Current maturities of long-term debt | 84 | 80 |
Other current liabilities | 21 | 27 |
Long-Term debt | 2,234 | 1,966 |
Deferred income taxes | 283 | 290 |
Asset retirement obligations | 29 | 26 |
Other liabilities | 38 | 31 |
Total liabilities | 2,698 | 2,432 |
Net assets of consolidated VIEs | 1,053 | 1,009 |
Duke Energy Carolinas [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 647 | 673 |
Other current assets | 77 | 309 |
Investments and other assets | 959 | 1,000 |
Total property, plant and equipment | 37,372 | 34,906 |
Accumulated depreciation and amortization | -12,700 | -11,894 |
Other deferred debits | 42 | 46 |
Accounts payable | 709 | 701 |
Current maturities of long-term debt | 507 | 47 |
Other current liabilities | 434 | 393 |
Long-Term debt | 7,584 | 8,089 |
Deferred income taxes | 5,812 | 5,706 |
Asset retirement obligations | 3,428 | 1,594 |
Other liabilities | 642 | 676 |
Duke Energy Progress [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 436 | 417 |
Other current assets | 384 | 296 |
Investments and other assets | 412 | 443 |
Total property, plant and equipment | 24,207 | 22,273 |
Accumulated depreciation and amortization | -9,021 | -8,623 |
Other deferred debits | 34 | 32 |
Accounts payable | 481 | 420 |
Current maturities of long-term debt | 945 | 174 |
Other current liabilities | 409 | 392 |
Long-Term debt | 5,256 | 5,061 |
Deferred income taxes | 2,908 | 2,557 |
Asset retirement obligations | 3,905 | 1,729 |
Other liabilities | 168 | 222 |
Duke Energy Florida [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 305 | |
Other current assets | 521 | 182 |
Investments and other assets | 204 | 252 |
Total property, plant and equipment | 14,433 | 13,863 |
Accumulated depreciation and amortization | -4,478 | -4,252 |
Other deferred debits | 39 | 44 |
Accounts payable | 365 | 333 |
Current maturities of long-term debt | 562 | 11 |
Other current liabilities | 586 | 445 |
Long-Term debt | 4,298 | 4,875 |
Deferred income taxes | 2,452 | 1,829 |
Asset retirement obligations | 806 | 833 |
Other liabilities | 158 | 255 |
DERF [Member] | Duke Energy Carolinas [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 647 | 673 |
Other deferred debits | 1 | |
Total assets | 647 | 674 |
Long-Term debt | 400 | 400 |
Other liabilities | 1 | |
Total liabilities | 400 | 401 |
Net assets of consolidated VIEs | 247 | 273 |
DEPR [Member] | Duke Energy Progress [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 436 | 416 |
Other deferred debits | 1 | |
Total assets | 436 | 417 |
Long-Term debt | 300 | 300 |
Total liabilities | 300 | 300 |
Net assets of consolidated VIEs | 136 | 117 |
DEFR [Member] | Duke Energy Florida [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 305 | |
Total assets | 305 | |
Long-Term debt | 225 | |
Total liabilities | 225 | |
Net assets of consolidated VIEs | 80 | |
Cinergy Receivables [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 547 | 595 |
Total assets | 547 | 595 |
Long-Term debt | 325 | 325 |
Total liabilities | 325 | 325 |
Net assets of consolidated VIEs | 222 | 270 |
Renewables [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 20 | 18 |
Other current assets | 68 | 89 |
Investments and other assets | 25 | 29 |
Total property, plant and equipment | 1,855 | 1,662 |
Accumulated depreciation and amortization | -250 | -170 |
Other deferred debits | 34 | 34 |
Total assets | 1,752 | 1,662 |
Accounts payable | 3 | 2 |
Taxes accrued | 6 | 10 |
Current maturities of long-term debt | 68 | 66 |
Other current liabilities | 16 | 17 |
Long-Term debt | 967 | 907 |
Deferred income taxes | 283 | 290 |
Asset retirement obligations | 29 | 26 |
Other liabilities | 34 | 17 |
Total liabilities | 1,406 | 1,335 |
Net assets of consolidated VIEs | 346 | 327 |
Other VIEs [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity Consolidated Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Restricted receivables of variable interest entities (net of allowance for doubtful accounts) | 18 | 17 |
Other current assets | 6 | 12 |
Investments and other assets | 25 | 51 |
Total property, plant and equipment | 18 | 18 |
Accumulated depreciation and amortization | -5 | -5 |
Other deferred debits | 2 | |
Total assets | 64 | 93 |
Current maturities of long-term debt | 16 | 14 |
Other current liabilities | 5 | 10 |
Long-Term debt | 17 | 34 |
Other liabilities | 4 | 13 |
Total liabilities | 42 | 71 |
Net assets of consolidated VIEs | $22 | $22 |
Variable_Interest_Entities_Sch
Variable Interest Entities (Schedule of Accounts Receivable Securitizations)(Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Variable Interest Entity [Line Items] | ||
Debt instrument, face amount | $2,922,000,000 | $4,023,000,000 |
Duke Energy Progress [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt instrument, face amount | 1,350,000,000 | 800,000,000 |
Duke Energy Florida [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt instrument, face amount | 225,000,000 | |
DERF [Member] | Duke Energy Carolinas [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt instrument, face amount | 400,000,000 | |
Line of credit facility, expiration date | 1-Oct-16 | |
DEPR [Member] | Duke Energy Progress [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt instrument, face amount | 300,000,000 | |
Line of credit facility, expiration date | 1-Dec-16 | |
DEFR [Member] | Duke Energy Florida [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Debt instrument, face amount | $225,000,000 | |
Line of credit facility, expiration date | 1-Mar-17 |
Variable_Interest_Entities_Sch1
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Variable Interest Entity [Line Items] | |||
Impairment charges | $81 | $399 | $666 |
Investments in equity method unconsolidated affiliates | 358 | 390 | |
Investments and other assets | 3,008 | 3,432 | |
Other current liabilities | 2,188 | 1,996 | |
Other liabilities | 31,364 | 26,575 | |
Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | 188 | 213 | |
Intangibles, net | 96 | ||
Investments and other assets | 4 | 4 | |
Total assets | 192 | 313 | |
Other current liabilities | 3 | 3 | |
Other liabilities | 14 | 15 | |
Total liabilities | 17 | 18 | |
Net assets of non-consolidated VIEs | 175 | 295 | |
Renewables [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | 150 | 153 | |
Total assets | 150 | 153 | |
Net assets of non-consolidated VIEs | 150 | 153 | |
Other VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Investments in equity method unconsolidated affiliates | 38 | 60 | |
Intangibles, net | 96 | ||
Investments and other assets | 4 | 4 | |
Total assets | 42 | 160 | |
Other current liabilities | 3 | 3 | |
Other liabilities | 14 | 15 | |
Total liabilities | 17 | 18 | |
Net assets of non-consolidated VIEs | 25 | 142 | |
Duke Energy Ohio [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 94 | 5 | 2 |
Investments and other assets | 23 | 232 | |
Other current liabilities | 66 | 110 | |
Other liabilities | 2,281 | 2,546 | |
Duke Energy Ohio [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Receivables | 91 | 114 | |
Intangibles, net | 96 | ||
Total assets | 91 | 210 | |
Net assets of non-consolidated VIEs | 91 | 210 | |
Duke Energy Ohio [Member] | Other VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 94 | ||
Duke Energy Indiana [Member] | |||
Variable Interest Entity [Line Items] | |||
Impairment charges | 0 | 0 | 579 |
Investments and other assets | 251 | 269 | |
Other current liabilities | 98 | 88 | |
Other liabilities | 2,730 | 2,334 | |
Duke Energy Indiana [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Receivables | 113 | 143 | |
Total assets | 113 | 143 | |
Net assets of non-consolidated VIEs | $113 | $143 |
Variable_Interest_Entities_Fai
Variable Interest Entities (Fair Value Assumptions)(Details) (Variable Interest Entity, Not Primary Beneficiary [Member], Cinergy Receivables [Member]) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Duke Energy Ohio [Member] | ||
Variable Interest Entity [Line Items] | ||
Anticipated credit loss ratio | 0.60% | 0.60% |
Discount rate | 1.20% | 1.20% |
Receivable turnover rate | 12.80% | 12.80% |
Duke Energy Indiana [Member] | ||
Variable Interest Entity [Line Items] | ||
Anticipated credit loss ratio | 0.30% | 0.30% |
Discount rate | 1.20% | 1.20% |
Receivable turnover rate | 10.50% | 10.30% |
Variable_Interest_Entities_Rec
Variable Interest Entities (Receivables Sold)(Details) (Variable Interest Entity, Not Primary Beneficiary [Member], Cinergy Receivables [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Duke Energy Ohio [Member] | ||
Variable Interest Entity [Line Items] | ||
Receivables sold | $273 | $290 |
Less: retained interests | 91 | 114 |
Net receivables sold | 182 | 176 |
Duke Energy Indiana [Member] | ||
Variable Interest Entity [Line Items] | ||
Receivables sold | 310 | 340 |
Less: retained interests | 113 | 143 |
Net receivables sold | $197 | $197 |
Variable_Interest_Entities_Sal
Variable Interest Entities (Sales and Cash Flows)(Details) (Variable Interest Entity, Not Primary Beneficiary [Member], Cinergy Receivables [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Duke Energy Ohio [Member] | |||
Variable Interest Entity [Line Items] | |||
Receivables sold | $2,246 | $2,251 | $2,154 |
Loss recognized on sale | 11 | 12 | 13 |
Cash proceeds from receivables sold | 2,261 | 2,220 | 2,172 |
Collection fees received | 1 | 1 | 1 |
Return received on retained interests | 4 | 5 | 5 |
Duke Energy Indiana [Member] | |||
Variable Interest Entity [Line Items] | |||
Receivables sold | 2,913 | 2,985 | 2,773 |
Loss recognized on sale | 11 | 11 | 12 |
Cash proceeds from receivables sold | 2,932 | 2,944 | 2,784 |
Collection fees received | 1 | 1 | 1 |
Return received on retained interests | $6 | $6 | $7 |
Common_Stock_Details
Common Stock (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Line Items] | |||||||||||
Income from continuing operations attributable to Duke Energy common stockholders, as adjusted for participating securities - basic and diluted | $2,451 | $2,574 | $1,593 | ||||||||
Average shares, basic | 707 | 706 | 574 | ||||||||
Average shares, diluted | 707 | 706 | 575 | ||||||||
EPS, basic | $0.14 | $1.25 | $1.02 | $1.05 | $0.96 | $1.33 | $0.40 | $0.93 | $3.46 | $3.64 | $2.77 |
EPS, diluted | $0.14 | $1.25 | $1.02 | $1.05 | $0.96 | $1.33 | $0.40 | $0.93 | $3.46 | $3.63 | $2.77 |
Common Class A [Member] | |||||||||||
Earnings Per Share [Line Items] | |||||||||||
Income from continuing operations attributable to Duke Energy common stockholders, as adjusted for participating securities - basic and diluted | $2,446 | $2,565 | $1,588 | ||||||||
Average shares, basic | 707 | 706 | 574 | ||||||||
Stock options, performance and restricted stock | 1 | ||||||||||
Average shares, diluted | 707 | 706 | 575 | ||||||||
EPS, basic | $3.46 | $3.64 | $2.77 | ||||||||
EPS, diluted | $3.46 | $3.63 | $2.77 | ||||||||
Number of stock options and performance and unvested stock awards excluded from the dilutive securities calculation | 2 | 2 | 1 | ||||||||
Dividends declared per share | $3.15 | $3.09 | $3.03 |
Severance_Narrative_Details
Severance (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Nov. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2014 |
Employees | Employees | |||
Restructuring Cost and Reserve [Line Items] | ||||
Voluntary opportunity cost deferral | $101 | |||
2011 Severance Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of employees that accepted the termination benefits | 1,100 | |||
Duke Energy Carolinas [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Voluntary opportunity cost deferral | 101 | |||
Duke Energy Florida [Member] | Crystal River Unit 3 2013 Severance Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of eligible employees | 600 | |||
Deferred severance costs | $26 | |||
Duke Energy Ohio [Member] | Midwest Commercial Generation Involuntary Severance Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of employees that accepted the termination benefits | 50 |
Severance_Expenses_Details
Severance (Expenses) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | $34 | $201 | |
COBRA and healthcare expense reimbursement | 2 | 19 | |
Accelerated stock compensation expense | 5 | 14 | |
Duke Energy Carolinas [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | 8 | 63 | |
Progress Energy [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | 19 | 82 | |
Duke Energy Progress [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | 14 | 55 | |
Duke Energy Florida [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | 5 | 27 | |
Duke Energy Ohio [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | 2 | 21 | |
Duke Energy Ohio [Member] | Midwest Commercial Generation Involuntary Severance Plan [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | 6 | ||
Duke Energy Indiana [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Severance expense | $2 | $18 |
Severance_Rollforward_Details
Severance (Rollforward) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | $64 |
Provision/adjustments | 5 |
Cash reductions | -41 |
Balance, end of period | 28 |
Duke Energy Carolinas [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 5 |
Provision/adjustments | 2 |
Cash reductions | -5 |
Balance, end of period | 2 |
Progress Energy [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 44 |
Provision/adjustments | -10 |
Cash reductions | -16 |
Balance, end of period | 18 |
Duke Energy Progress [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 11 |
Cash reductions | -10 |
Balance, end of period | 1 |
Duke Energy Florida [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 24 |
Provision/adjustments | -1 |
Cash reductions | -6 |
Balance, end of period | 17 |
Duke Energy Ohio [Member] | |
Restructuring Reserve [Roll Forward] | |
Balance, beginning of period | 2 |
Provision/adjustments | 5 |
Cash reductions | -1 |
Balance, end of period | $6 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Estimated fair value of stock based compensation awards allocated to purchase price | $62 | ||
Shares reserved for awards to employees and outside directors | 25 | ||
Shares to be issued under various stock-based awards other than options and stock appreciation rights | 6.25 | ||
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum option term, years | 10 years | ||
Restricted Stock Units Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total grant date fair value of shares vested | 52 | 50 | 34 |
Unrecognized compensation cost | 18 | ||
Unrecognized compensation cost, period of recognition, years | 1 year 10 months 0 days | ||
Restricted Stock Units Awards [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Performance Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total grant date fair value of shares vested | 27 | 42 | 56 |
Unrecognized compensation cost | $21 | ||
Unrecognized compensation cost, period of recognition, years | 1 year 9 months 0 days | ||
Risk Free Interest Rate | 0.70% | ||
Expected Volatility Rate | 13.50% |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | $38 | $52 | $48 |
Pretax stock-based compensation expense | 61 | 85 | 78 |
Tax benefit associated with stock-based compensation expense | 23 | 33 | 30 |
Stock-based compensation costs capitalized | 4 | 3 | 2 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation expense | 2 | 2 | |
Restricted Stock Units Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation expense | 39 | 49 | 43 |
Performance Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pretax stock-based compensation expense | 22 | 34 | 33 |
Duke Energy Carolinas [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 12 | 13 | 12 |
Progress Energy [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 14 | 23 | 25 |
Duke Energy Progress [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 9 | 14 | 16 |
Duke Energy Florida [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 5 | 9 | 9 |
Duke Energy Ohio [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | 5 | 4 | 4 |
Duke Energy Indiana [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense, Net of Tax | $3 | $4 | $4 |
StockBased_Compensation_Stock_
Stock-Based Compensation (Stock Options) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Option Activity, Options [Roll Forward] | |||
Outstanding at beginning of period | 793 | ||
Granted | 310 | 340 | |
Exercised | -420 | ||
Outstanding at end of period | 373 | 793 | |
Exercisable at end of period | 53 | ||
Options expected to vest | 320 | ||
Stock Option Activity, Weighted Average Exercise Price [Roll Forward] | |||
Weighted average exercise price of options outstanding at beginning of period | $61 | ||
Exercised | $59 | ||
Weighted average exercise price of options outstanding end of period | $64 | $61 | |
Weighted average exercise price of options exercisable at end of period | $46 | ||
Weighted average exercise price of options expected to vest | $67 | ||
Weighted-Average Remaining Life [Abstract] | |||
Weighted average remaining life of options outstanding at end of period, years | 6 years 10 months 0 days | ||
Weighted average remaining life of options exercisable at end of period, years | 1 year 0 months 0 days | ||
Weighted average remaining life of options expected to vest, years | 7 years 10 months 0 days | ||
Aggregate Intrinsic Value [Abstract] | |||
Aggregate intrinsic value of options outstanding at end of period | $7 | ||
Aggregate intrinsic value of options exercisable at end of period | 2 | ||
Aggregate intrinsic value of options expected to vest | 5 | ||
Schedule Of Information Related To Stock Options [Abstract] | |||
Intrinsic value of options exercised | 6 | 26 | 17 |
Tax benefit related to options exercised | 2 | 10 | 7 |
Cash received from options exercised | $25 | $9 | $21 |
Stock options granted | 310 | 340 |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary of Stock Awards Outstanding) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Restricted Stock Units Awards [Member] | |||
Schedule Of Shares Awarded [Abstract] | |||
Shares awarded (in thousands) | 557 | 612 | 443 |
Fair value | $40 | $42 | $28 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Outstanding at beginning of period | 1,400 | ||
Granted | 557 | 612 | 443 |
Vested | -832 | ||
Forfeited | -45 | ||
Outstanding at end of period | 1,080 | 1,400 | |
Stock awards expected to vest | 1,057 | ||
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 | $66 | ||
Granted | $71 | ||
Vested | $62 | ||
Forfeited | $68 | ||
Weighted average fair value at end of period | $69 | $66 | |
Weighted average fair value of awards expected to vest | $69 | ||
Performance Awards [Member] | |||
Schedule Of Shares Awarded [Abstract] | |||
Shares awarded (in thousands) | 542 | 633 | 352 |
Fair value | $19 | $28 | $19 |
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 | 1,822 | ||
Granted | 542 | 633 | 352 |
Vested | -524 | ||
Forfeited | -213 | ||
Outstanding at end of period | 1,627 | 1,822 | |
Stock awards expected to vest | 1,418 | ||
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 | $46 | ||
Granted | $34 | ||
Vested | $52 | ||
Forfeited | $37 | ||
Weighted average fair value at end of period | $42 | $46 | |
Weighted average fair value of awards expected to vest | $42 |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Maximum years of participation | 35 years | 35 years | |
Master Trust [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of securities on loan | 383 | $43 | |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Qualified Pension Plans [Member] | Master Trust [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Master trust allocation percentage | 98.00% | ||
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 13 years | ||
Other Post-Retirement Benefit Plans [Member] | Master Trust [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Master trust allocation percentage | 2.00% | ||
Duke Energy Carolinas [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Duke Energy Carolinas [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Progress Energy [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Progress Energy [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 13 years | ||
Duke Energy Progress [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Duke Energy Progress [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 12 years | ||
Duke Energy Florida [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Duke Energy Florida [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 17 years | ||
Duke Energy Ohio [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Duke Energy Ohio [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Duke Energy Indiana [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years | ||
Duke Energy Indiana [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average remaining service period, in years | 9 years |
Employee_Benefit_Plans_Contrib
Employee Benefit Plans (Contributions to Defined Benefit Pension Plans) (Details) (Qualified Pension Plans [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $250 | $304 | |
Anticipated contribution | 302 | ||
Duke Energy Carolinas [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Anticipated contribution | 91 | ||
Progress Energy [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 250 | 346 | |
Anticipated contribution | 83 | ||
Duke Energy Progress [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 63 | 141 | |
Anticipated contribution | 42 | ||
Duke Energy Florida [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 133 | 128 | |
Anticipated contribution | 40 | ||
Duke Energy Ohio [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Anticipated contribution | 8 | ||
Duke Energy Indiana [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Anticipated contribution | $19 |
Employee_Benefit_Plans_Compone
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | $135 | $167 | $122 |
Interest cost on projected benefit obligation | 344 | 320 | 307 |
Expected return on plan assets | -511 | -549 | -472 |
Amortization of actuarial loss (gain) | 150 | 244 | 144 |
Amortization of prior service cost (credit) | -15 | -11 | 10 |
Other | 8 | 7 | 6 |
Net periodic costs | 111 | 178 | 117 |
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 41 | 49 | 35 |
Interest cost on projected benefit obligation | 85 | 80 | 90 |
Expected return on plan assets | -132 | -148 | -146 |
Amortization of actuarial loss (gain) | 36 | 60 | 45 |
Amortization of prior service cost (credit) | -8 | -6 | 1 |
Other | 2 | 2 | 2 |
Net periodic costs | 24 | 37 | 27 |
Qualified Pension Plans [Member] | Progress Energy [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 40 | 60 | 63 |
Interest cost on projected benefit obligation | 112 | 116 | 127 |
Expected return on plan assets | -173 | -199 | -188 |
Amortization of actuarial loss (gain) | 68 | 101 | 93 |
Amortization of prior service cost (credit) | -3 | -4 | 9 |
Other | 3 | 2 | 2 |
Net periodic costs | 47 | 76 | 106 |
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 21 | 22 | 25 |
Interest cost on projected benefit obligation | 54 | 50 | 58 |
Expected return on plan assets | -85 | -94 | -96 |
Amortization of actuarial loss (gain) | 32 | 46 | 37 |
Amortization of prior service cost (credit) | -2 | -1 | 8 |
Other | 1 | 1 | 1 |
Net periodic costs | 21 | 24 | 33 |
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 20 | 30 | 30 |
Interest cost on projected benefit obligation | 57 | 53 | 56 |
Expected return on plan assets | -85 | -87 | -81 |
Amortization of actuarial loss (gain) | 32 | 49 | 48 |
Amortization of prior service cost (credit) | -1 | -2 | -1 |
Other | 1 | 1 | 1 |
Net periodic costs | 24 | 44 | 53 |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 4 | 6 | 6 |
Interest cost on projected benefit obligation | 20 | 21 | 31 |
Expected return on plan assets | -27 | -31 | -45 |
Amortization of actuarial loss (gain) | 4 | 13 | 10 |
Amortization of prior service cost (credit) | 1 | ||
Net periodic costs | 1 | 9 | 3 |
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 9 | 11 | 9 |
Interest cost on projected benefit obligation | 29 | 28 | 30 |
Expected return on plan assets | -41 | -46 | -46 |
Amortization of actuarial loss (gain) | 13 | 24 | 15 |
Amortization of prior service cost (credit) | 1 | 1 | |
Other | 1 | 1 | |
Net periodic costs | 11 | 19 | 9 |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 3 | 3 | 2 |
Interest cost on projected benefit obligation | 14 | 13 | 12 |
Amortization of actuarial loss (gain) | 3 | 5 | 4 |
Amortization of prior service cost (credit) | -1 | -1 | 1 |
Net periodic costs | 19 | 20 | 19 |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Net periodic costs | 1 | 1 | 1 |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | 2 |
Interest cost on projected benefit obligation | 5 | 7 | 8 |
Amortization of actuarial loss (gain) | 2 | 3 | 5 |
Amortization of prior service cost (credit) | -1 | -1 | -1 |
Net periodic costs | 7 | 10 | 14 |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Amortization of actuarial loss (gain) | 1 | 1 | |
Net periodic costs | 2 | 3 | 3 |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Interest cost on projected benefit obligation | 2 | 1 | 2 |
Amortization of actuarial loss (gain) | 1 | ||
Net periodic costs | 2 | 2 | 2 |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Net periodic costs | 0 | 0 | 0 |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Net periodic costs | 0 | 0 | 0 |
Other Post-Retirement Benefit Plans [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 10 | 24 | 16 |
Interest cost on projected benefit obligation | 49 | 68 | 56 |
Expected return on plan assets | -13 | -14 | -17 |
Amortization of actuarial loss (gain) | 39 | 52 | 14 |
Amortization of prior service cost (credit) | -125 | -41 | -8 |
Amortization of net transition liability | 10 | ||
Other | 9 | ||
Net periodic costs | -40 | 89 | 80 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 2 | 2 | 2 |
Interest cost on projected benefit obligation | 12 | 13 | 15 |
Expected return on plan assets | -9 | -11 | -10 |
Amortization of actuarial loss (gain) | 3 | 3 | 3 |
Amortization of prior service cost (credit) | -11 | -7 | -5 |
Amortization of net transition liability | 7 | ||
Other | 1 | ||
Net periodic costs | -3 | 0 | 13 |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 4 | 18 | 17 |
Interest cost on projected benefit obligation | 22 | 41 | 43 |
Expected return on plan assets | -2 | ||
Amortization of actuarial loss (gain) | 42 | 57 | 35 |
Amortization of prior service cost (credit) | -95 | -30 | |
Amortization of net transition liability | 4 | ||
Other | 5 | ||
Net periodic costs | -27 | 86 | 102 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 9 | 8 |
Interest cost on projected benefit obligation | 11 | 22 | 23 |
Amortization of actuarial loss (gain) | 31 | 34 | 20 |
Amortization of prior service cost (credit) | -73 | -20 | |
Other | 2 | ||
Net periodic costs | -30 | 45 | 53 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 3 | 7 | 7 |
Interest cost on projected benefit obligation | 12 | 16 | 18 |
Expected return on plan assets | -2 | ||
Amortization of actuarial loss (gain) | 10 | 16 | 12 |
Amortization of prior service cost (credit) | -21 | -6 | |
Amortization of net transition liability | 3 | ||
Other | 1 | ||
Net periodic costs | 4 | 33 | 39 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | |
Interest cost on projected benefit obligation | 2 | 2 | 3 |
Expected return on plan assets | -1 | -1 | |
Amortization of actuarial loss (gain) | -2 | -1 | -2 |
Amortization of prior service cost (credit) | -1 | -1 | |
Net periodic costs | 0 | 0 | 0 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 5 | 5 | 6 |
Expected return on plan assets | -1 | -1 | -1 |
Amortization of actuarial loss (gain) | 1 | ||
Net periodic costs | $5 | $6 | $6 |
Employee_Benefit_Plans_Amounts
Employee Benefit Plans (Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Deferred income tax benefit (expense) | $17 | $9 | ||||
Net amount recognized in accumulated other comprehensive (income) loss | -4 | [1] | -38 | [1] | -19 | [1] |
Progress Energy [Member] | ||||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Net amount recognized in accumulated other comprehensive (income) loss | -9 | -9 | 2 | |||
Duke Energy Ohio [Member] | ||||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Net amount recognized in accumulated other comprehensive (income) loss | -1 | -27 | ||||
Qualified Pension Plans [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 112 | -788 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Deferred income tax benefit (expense) | -10 | 18 | ||||
Actuarial (gains) losses arising during the year | 29 | -33 | ||||
Prior year service cost (credit) arising during the year | -1 | |||||
Amortization of prior year actuarial gains (losses) | -9 | -15 | ||||
Reclassification of actuarial gains (losses) to regulatory assets | -1 | 3 | ||||
Net amount recognized in accumulated other comprehensive (income) loss | 9 | -28 | ||||
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 30 | -205 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||||
Qualified Pension Plans [Member] | Progress Energy [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | -73 | -253 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Deferred income tax benefit (expense) | -2 | |||||
Actuarial (gains) losses arising during the year | -2 | |||||
Amortization of prior year actuarial gains (losses) | -3 | |||||
Net amount recognized in accumulated other comprehensive (income) loss | -2 | -5 | ||||
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | -17 | -109 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||||
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 11 | -146 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||||
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 17 | -96 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||||
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 4 | -99 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Net amount recognized in accumulated other comprehensive (income) loss | 0 | 0 | ||||
Non Qualified Pension Plans [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 44 | -14 | ||||
Regulatory liabilities, net increase (decrease) | -7 | 5 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Deferred income tax benefit (expense) | 4 | |||||
Actuarial (gains) losses arising during the year | -9 | 2 | ||||
Prior year service cost (credit) arising during the year | -1 | |||||
Net amount recognized in accumulated other comprehensive (income) loss | -5 | 1 | ||||
Non Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 1 | 1 | ||||
Non Qualified Pension Plans [Member] | Progress Energy [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 14 | -16 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Deferred income tax benefit (expense) | 5 | 1 | ||||
Actuarial (gains) losses arising during the year | -11 | -5 | ||||
Net amount recognized in accumulated other comprehensive (income) loss | -6 | -4 | ||||
Non Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 4 | -4 | ||||
Non Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 19 | -3 | ||||
Non Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 1 | |||||
Non Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 2 | -2 | ||||
Other Post-Retirement Benefit Plans [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 162 | -683 | ||||
Regulatory liabilities, net increase (decrease) | 249 | 30 | ||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Deferred income tax benefit (expense) | 1 | 2 | ||||
Actuarial (gains) losses arising during the year | 1 | -4 | ||||
Prior year service cost (credit) arising during the year | -6 | -3 | ||||
Amortization of prior year actuarial gains (losses) | 1 | |||||
Amortization of prior year prior service credit | 2 | |||||
Net amount recognized in accumulated other comprehensive (income) loss | -2 | -4 | ||||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 34 | -51 | ||||
Regulatory liabilities, net increase (decrease) | 76 | |||||
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 129 | -634 | ||||
Regulatory liabilities, net increase (decrease) | 122 | |||||
Amounts Recognized in Accumulated Other Comprehensive Loss (Income) [Abstract] | ||||||
Deferred income tax benefit (expense) | 1 | |||||
Actuarial (gains) losses arising during the year | -2 | |||||
Net amount recognized in accumulated other comprehensive (income) loss | -1 | |||||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | 97 | -388 | ||||
Regulatory liabilities, net increase (decrease) | 61 | |||||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | -4 | -166 | ||||
Regulatory liabilities, net increase (decrease) | 61 | |||||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory liabilities, net increase (decrease) | -2 | 3 | ||||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | ||||||
Amounts Recognized in Regulatory Assets and Liabilities [Abstract] | ||||||
Regulatory assets, net increase (decrease) | -7 | -6 | ||||
Regulatory liabilities, net increase (decrease) | $14 | $9 | ||||
[1] | Net of insignificant tax expense in 2014, $17 million tax expense in 2013 and $9 million tax expense in 2012. See Note 21 for additional information. |
Employee_Benefit_Plans_Project
Employee Benefit Plans (Projected Benefit Obligations Reconciliation of Funded Status to Net Amount Recognized) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Qualified Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | $7,510 | $8,030 | |
Service cost | 135 | 167 | 122 |
Interest cost on projected benefit obligation | 344 | 320 | 307 |
Actuarial (gains) losses | 618 | -399 | |
Plan amendments | -4 | -41 | |
Benefits paid | -496 | -567 | |
Obligation at measurement date | 8,107 | 7,510 | 8,030 |
Accumulated benefit obligation at measurement date | 7,966 | 7,361 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 8,142 | 7,754 | |
Actual return on plan assets | 852 | 705 | |
Benefits paid | -496 | -567 | |
Employer contributions | 250 | 304 | |
Plan assets at measurement date | 8,498 | 8,142 | 7,754 |
Funded status of plan | 391 | 632 | |
Qualified Pension Plans [Member] | Change in Assumptions for Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Actuarial (gains) losses | 180 | ||
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,875 | 2,028 | |
Service cost | 41 | 49 | 35 |
Interest cost on projected benefit obligation | 85 | 80 | 90 |
Actuarial (gains) losses | 132 | -73 | |
Transfers of benefit obligation | 37 | -26 | |
Plan amendments | -1 | -13 | |
Benefits paid | -116 | -170 | |
Obligation at measurement date | 2,053 | 1,875 | 2,028 |
Accumulated benefit obligation at measurement date | 2,052 | 1,875 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 2,162 | 2,151 | |
Actual return on plan assets | 217 | 207 | |
Benefits paid | -116 | -170 | |
Transfer of plan assets | 37 | -26 | |
Plan assets at measurement date | 2,300 | 2,162 | 2,151 |
Funded status of plan | 247 | 287 | |
Qualified Pension Plans [Member] | Progress Energy [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 2,739 | 2,868 | |
Service cost | 40 | 60 | 63 |
Interest cost on projected benefit obligation | 112 | 116 | 127 |
Actuarial (gains) losses | 211 | -118 | |
Transfers of benefit obligation | -375 | -7 | |
Plan amendments | -19 | ||
Benefits paid | -170 | -161 | |
Obligation at measurement date | 2,557 | 2,739 | 2,868 |
Accumulated benefit obligation at measurement date | 2,519 | 2,698 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 2,944 | 2,647 | |
Actual return on plan assets | 300 | 215 | |
Benefits paid | -170 | -161 | |
Transfer of plan assets | -352 | -7 | |
Employer contributions | 250 | 346 | |
Plan assets at measurement date | 2,722 | 2,944 | 2,647 |
Funded status of plan | 165 | 205 | |
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,172 | 1,264 | |
Service cost | 21 | 22 | 25 |
Interest cost on projected benefit obligation | 54 | 50 | 58 |
Actuarial (gains) losses | 98 | -26 | |
Transfers of benefit obligation | -61 | -45 | |
Plan amendments | -8 | ||
Benefits paid | -97 | -85 | |
Obligation at measurement date | 1,187 | 1,172 | 1,264 |
Accumulated benefit obligation at measurement date | 1,187 | 1,172 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 1,330 | 1,289 | |
Actual return on plan assets | 149 | 108 | |
Benefits paid | -97 | -85 | |
Transfer of plan assets | -61 | -45 | |
Employer contributions | 63 | 141 | |
Plan assets at measurement date | 1,321 | 1,330 | 1,289 |
Funded status of plan | 134 | 158 | |
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,233 | 1,309 | |
Service cost | 20 | 30 | 30 |
Interest cost on projected benefit obligation | 57 | 53 | 56 |
Actuarial (gains) losses | 105 | -75 | |
Transfers of benefit obligation | -9 | -17 | |
Plan amendments | -7 | ||
Benefits paid | -71 | -60 | |
Obligation at measurement date | 1,335 | 1,233 | 1,309 |
Accumulated benefit obligation at measurement date | 1,297 | 1,192 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 1,299 | 1,150 | |
Actual return on plan assets | 144 | 93 | |
Benefits paid | -71 | -60 | |
Transfer of plan assets | -9 | -17 | |
Employer contributions | 133 | 128 | |
Plan assets at measurement date | 1,363 | 1,299 | 1,150 |
Funded status of plan | 28 | 66 | |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 442 | 527 | |
Service cost | 4 | 6 | 6 |
Interest cost on projected benefit obligation | 20 | 21 | 31 |
Actuarial (gains) losses | 41 | -71 | |
Transfers of benefit obligation | -6 | -2 | |
Plan amendments | -1 | ||
Benefits paid | -31 | -39 | |
Obligation at measurement date | 469 | 442 | 527 |
Accumulated benefit obligation at measurement date | 459 | 429 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 448 | 446 | |
Actual return on plan assets | 45 | 43 | |
Benefits paid | -31 | -39 | |
Transfer of plan assets | -6 | -2 | |
Plan assets at measurement date | 456 | 448 | 446 |
Funded status of plan | -13 | 6 | |
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 632 | 684 | |
Service cost | 9 | 11 | 9 |
Interest cost on projected benefit obligation | 29 | 28 | 30 |
Actuarial (gains) losses | 41 | -56 | |
Transfers of benefit obligation | -2 | ||
Benefits paid | -38 | -33 | |
Obligation at measurement date | 673 | 632 | 684 |
Accumulated benefit obligation at measurement date | 645 | 608 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 654 | 627 | |
Actual return on plan assets | 65 | 62 | |
Benefits paid | -38 | -33 | |
Transfer of plan assets | -2 | ||
Plan assets at measurement date | 681 | 654 | 627 |
Funded status of plan | 8 | 22 | |
Non Qualified Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 304 | 335 | |
Service cost | 3 | 3 | 2 |
Interest cost on projected benefit obligation | 14 | 13 | 12 |
Actuarial (gains) losses | 43 | -15 | |
Settlements | -5 | ||
Plan amendments | -1 | ||
Benefits paid | -27 | -26 | |
Obligation at measurement date | 337 | 304 | 335 |
Accumulated benefit obligation at measurement date | 333 | 302 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -27 | -26 | |
Employer contributions | 27 | 26 | |
Non Qualified Pension Plans [Member] | Change in Assumptions for Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Actuarial (gains) losses | 21 | ||
Non Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 15 | 16 | |
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Actuarial (gains) losses | 2 | 1 | |
Benefits paid | -2 | -3 | |
Obligation at measurement date | 16 | 15 | 16 |
Accumulated benefit obligation at measurement date | 15 | 15 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -2 | -3 | |
Employer contributions | 2 | 3 | |
Non Qualified Pension Plans [Member] | Progress Energy [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 140 | 176 | |
Service cost | 1 | 1 | 2 |
Interest cost on projected benefit obligation | 5 | 7 | 8 |
Actuarial (gains) losses | 11 | -11 | |
Transfers of benefit obligation | -32 | -21 | |
Benefits paid | -9 | -12 | |
Obligation at measurement date | 116 | 140 | 176 |
Accumulated benefit obligation at measurement date | 116 | 140 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -9 | -12 | |
Employer contributions | 9 | 12 | |
Non Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 34 | 38 | |
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 1 | 1 | 1 |
Actuarial (gains) losses | 2 | -3 | |
Benefits paid | -3 | -3 | |
Obligation at measurement date | 35 | 34 | 38 |
Accumulated benefit obligation at measurement date | 35 | 34 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -3 | -3 | |
Employer contributions | 3 | 3 | |
Non Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 39 | 45 | |
Interest cost on projected benefit obligation | 2 | 1 | 2 |
Actuarial (gains) losses | 20 | -3 | |
Transfers of benefit obligation | 4 | ||
Benefits paid | -4 | -4 | |
Obligation at measurement date | 61 | 39 | 45 |
Accumulated benefit obligation at measurement date | 61 | 39 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -4 | -4 | |
Employer contributions | 4 | 4 | |
Non Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 3 | 4 | |
Actuarial (gains) losses | 1 | -1 | |
Obligation at measurement date | 4 | 3 | |
Accumulated benefit obligation at measurement date | 4 | 3 | |
Non Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 5 | ||
Actuarial (gains) losses | 1 | ||
Benefits paid | -1 | ||
Obligation at measurement date | 5 | 5 | |
Accumulated benefit obligation at measurement date | 5 | 5 | |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -1 | ||
Employer contributions | 1 | ||
Other Post-Retirement Benefit Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 1,106 | 1,794 | |
Service cost | 10 | 24 | 16 |
Interest cost on projected benefit obligation | 49 | 68 | 56 |
Plan participants' contributions | 25 | 47 | |
Actuarial (gains) losses | -87 | -227 | |
Plan amendments | -85 | -476 | |
Benefits paid | -103 | -132 | |
Accrued retiree drug subsidy | 1 | 8 | |
Obligation at measurement date | 916 | 1,106 | 1,794 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 214 | 198 | |
Actual return on plan assets | 18 | 18 | |
Benefits paid | -103 | -132 | |
Employer contributions | 73 | 83 | |
Plan participants' contributions | 25 | 47 | |
Plan assets at measurement date | 227 | 214 | 198 |
Other Post-Retirement Benefit Plans [Member] | Change in Assumptions for Pension Plans [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Actuarial (gains) losses | 7 | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 265 | 316 | |
Service cost | 2 | 2 | 2 |
Interest cost on projected benefit obligation | 12 | 13 | 15 |
Plan participants' contributions | 10 | 15 | |
Actuarial (gains) losses | -35 | -32 | |
Transfers of benefit obligation | 1 | ||
Plan amendments | -4 | -16 | |
Benefits paid | -31 | -36 | |
Accrued retiree drug subsidy | 3 | ||
Obligation at measurement date | 220 | 265 | 316 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 143 | 134 | |
Actual return on plan assets | 12 | 13 | |
Benefits paid | -31 | -36 | |
Transfer of plan assets | -1 | -1 | |
Employer contributions | 12 | 18 | |
Plan participants' contributions | 10 | 15 | |
Plan assets at measurement date | 145 | 143 | 134 |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 533 | 1,128 | |
Service cost | 4 | 18 | 17 |
Interest cost on projected benefit obligation | 22 | 41 | 43 |
Plan participants' contributions | 8 | 14 | |
Actuarial (gains) losses | -19 | -156 | |
Transfers of benefit obligation | -48 | -1 | |
Plan amendments | -77 | -455 | |
Benefits paid | -44 | -60 | |
Accrued retiree drug subsidy | 4 | ||
Obligation at measurement date | 379 | 533 | 1,128 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -44 | -60 | |
Employer contributions | 36 | 46 | |
Plan participants' contributions | 8 | 14 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 233 | 612 | |
Service cost | 1 | 9 | 8 |
Interest cost on projected benefit obligation | 11 | 22 | 23 |
Plan participants' contributions | 4 | 6 | |
Actuarial (gains) losses | -21 | -73 | |
Transfers of benefit obligation | -2 | -8 | |
Plan amendments | -311 | ||
Benefits paid | -19 | -26 | |
Accrued retiree drug subsidy | 2 | ||
Obligation at measurement date | 207 | 233 | 612 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -19 | -26 | |
Employer contributions | 14 | 20 | |
Plan participants' contributions | 4 | 6 | |
Plan assets at measurement date | -1 | ||
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 253 | 413 | |
Service cost | 3 | 7 | 7 |
Interest cost on projected benefit obligation | 12 | 16 | 18 |
Plan participants' contributions | 4 | 7 | |
Actuarial (gains) losses | -70 | ||
Plan amendments | -78 | -91 | |
Benefits paid | -24 | -31 | |
Accrued retiree drug subsidy | 2 | ||
Obligation at measurement date | 170 | 253 | 413 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Benefits paid | -24 | -31 | |
Employer contributions | 20 | 24 | |
Plan participants' contributions | 4 | 7 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 42 | 48 | |
Service cost | 1 | 1 | |
Interest cost on projected benefit obligation | 2 | 2 | 3 |
Plan participants' contributions | 3 | ||
Actuarial (gains) losses | -6 | ||
Transfers of benefit obligation | -1 | ||
Plan amendments | -1 | ||
Benefits paid | -3 | -6 | |
Obligation at measurement date | 39 | 42 | 48 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 8 | 7 | |
Actual return on plan assets | 2 | ||
Benefits paid | -3 | -6 | |
Employer contributions | 3 | 2 | |
Plan participants' contributions | 3 | ||
Plan assets at measurement date | 8 | 8 | 7 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | |||
Change in Projected Benefit Obligation [Rollforward] | |||
Obligation at prior measurement date | 118 | 136 | |
Service cost | 1 | 1 | 1 |
Interest cost on projected benefit obligation | 5 | 5 | 6 |
Plan participants' contributions | 2 | 3 | |
Actuarial (gains) losses | -20 | -12 | |
Plan amendments | -3 | ||
Benefits paid | -10 | -14 | |
Accrued retiree drug subsidy | 2 | ||
Obligation at measurement date | 96 | 118 | 136 |
Change in Fair Value of Plan Assets [Rollforward] | |||
Plan assets at prior measurement date | 18 | 17 | |
Actual return on plan assets | 2 | 2 | |
Benefits paid | -10 | -14 | |
Employer contributions | 11 | 10 | |
Plan participants' contributions | 2 | 3 | |
Plan assets at measurement date | $23 | $18 | $17 |
Employee_Benefit_Plans_Amounts1
Employee Benefit Plans (Amounts Recognized in Consolidated Balance Sheets) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | $1,145 | $1,322 |
Regulatory assets | 12,157 | 10,086 |
Regulatory liabilities | 6,397 | 6,265 |
Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 111 | 161 |
Regulatory assets | 2,864 | 1,822 |
Regulatory liabilities | 2,744 | 2,641 |
Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 533 | 765 |
Regulatory assets | 5,899 | 4,508 |
Regulatory liabilities | 2,485 | 2,499 |
Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 290 | 321 |
Regulatory assets | 2,962 | 1,511 |
Regulatory liabilities | 1,903 | 1,736 |
Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 221 | 286 |
Regulatory assets | 2,936 | 2,950 |
Regulatory liabilities | 582 | 762 |
Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 48 | 58 |
Regulatory assets | 561 | 528 |
Regulatory liabilities | 251 | 289 |
Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 82 | 163 |
Regulatory assets | 778 | 835 |
Regulatory liabilities | 850 | 798 |
Qualified Pension Plans [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 441 | 632 |
Noncurrent pension liability | 50 | |
Net amount recognized | 391 | 632 |
Regulatory assets | 1,711 | 1,599 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | -51 | -41 |
Prior year service cost (credit) arising during the year | -5 | -5 |
Net actuarial loss (gain) | 140 | 121 |
Net amount recognized in accumulated other comprehensive income (loss) | 84 | 75 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 166 | |
Unrecognized prior service (credit) cost | -15 | |
Qualified Pension Plans [Member] | Brazilian Retirement Plan [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Net amount recognized in accumulated other comprehensive income (loss) | 22 | 16 |
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 247 | 287 |
Net amount recognized | 247 | 287 |
Regulatory assets | 407 | 377 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 39 | |
Unrecognized prior service (credit) cost | -8 | |
Qualified Pension Plans [Member] | Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 165 | 230 |
Noncurrent pension liability | 25 | |
Net amount recognized | 165 | 205 |
Regulatory assets | 753 | 826 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | -11 | -9 |
Net actuarial loss (gain) | 21 | 21 |
Net amount recognized in accumulated other comprehensive income (loss) | 10 | 12 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 65 | |
Unrecognized prior service (credit) cost | -3 | |
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 134 | 158 |
Net amount recognized | 134 | 158 |
Regulatory assets | 346 | 363 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 34 | |
Unrecognized prior service (credit) cost | -2 | |
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 28 | 66 |
Net amount recognized | 28 | 66 |
Regulatory assets | 406 | 395 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 31 | |
Unrecognized prior service (credit) cost | -1 | |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 2 | |
Noncurrent pension liability | 13 | -4 |
Net amount recognized | -13 | 6 |
Regulatory assets | 65 | 48 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 6 | |
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Prefunded pension | 8 | 75 |
Noncurrent pension liability | 53 | |
Net amount recognized | 8 | 22 |
Regulatory assets | 151 | 147 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 14 | |
Non-Qualified Pension Plans [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 27 | 30 |
Noncurrent pension liability | 310 | 274 |
Total accrued pension liability | 337 | 304 |
Regulatory assets | 89 | 45 |
Regulatory liabilities | 7 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | 4 | |
Prior year service cost (credit) arising during the year | -1 | -1 |
Net actuarial loss (gain) | -8 | 1 |
Net amount recognized in accumulated other comprehensive income (loss) | -5 | |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 6 | |
Unrecognized prior service (credit) cost | -1 | |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 2 | 2 |
Noncurrent pension liability | 14 | 13 |
Total accrued pension liability | 16 | 15 |
Regulatory assets | 5 | 4 |
Regulatory liabilities | 0 | |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 8 | 11 |
Noncurrent pension liability | 108 | 129 |
Total accrued pension liability | 116 | 140 |
Regulatory assets | 32 | 18 |
Regulatory liabilities | 0 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax asset | 2 | -3 |
Net actuarial loss (gain) | -4 | 7 |
Net amount recognized in accumulated other comprehensive income (loss) | -2 | 4 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 2 | |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 3 | 2 |
Noncurrent pension liability | 32 | 32 |
Total accrued pension liability | 35 | 34 |
Regulatory assets | 7 | 3 |
Regulatory liabilities | 0 | |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 1 | |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 4 | 3 |
Noncurrent pension liability | 57 | 36 |
Total accrued pension liability | 61 | 39 |
Regulatory assets | 25 | 6 |
Regulatory liabilities | 0 | |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 2 | |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 0 | |
Noncurrent pension liability | 4 | 3 |
Total accrued pension liability | 4 | 3 |
Regulatory assets | 1 | |
Regulatory liabilities | 0 | |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 0 | |
Noncurrent pension liability | 5 | 5 |
Total accrued pension liability | 5 | 5 |
Regulatory assets | 2 | |
Regulatory liabilities | 0 | |
Other Post-Retirement Benefit Plans [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 35 | 39 |
Noncurrent pension liability | 654 | 853 |
Total accrued pension liability | 689 | 892 |
Regulatory assets | -162 | |
Regulatory liabilities | 380 | 131 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 5 | 4 |
Prior year service cost (credit) arising during the year | -9 | -5 |
Net actuarial loss (gain) | -5 | -6 |
Net amount recognized in accumulated other comprehensive income (loss) | -9 | -7 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 16 | |
Unrecognized prior service (credit) cost | -140 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 75 | 122 |
Total accrued pension liability | 75 | 122 |
Regulatory assets | -34 | |
Regulatory liabilities | 76 | |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | -1 | |
Unrecognized prior service (credit) cost | -14 | |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 29 | 36 |
Noncurrent pension liability | 350 | 497 |
Total accrued pension liability | 379 | 533 |
Regulatory assets | -129 | |
Regulatory liabilities | 122 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||
Deferred income tax liability | 1 | |
Net actuarial loss (gain) | -2 | |
Net amount recognized in accumulated other comprehensive income (loss) | -1 | |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 28 | |
Unrecognized prior service (credit) cost | -103 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 16 | 17 |
Noncurrent pension liability | 192 | 216 |
Total accrued pension liability | 208 | 233 |
Regulatory assets | -97 | |
Regulatory liabilities | 61 | |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 18 | |
Unrecognized prior service (credit) cost | -68 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 14 | 16 |
Noncurrent pension liability | 156 | 237 |
Total accrued pension liability | 170 | 253 |
Regulatory assets | 4 | |
Regulatory liabilities | 61 | |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | 10 | |
Unrecognized prior service (credit) cost | -35 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Current pension liability | 2 | 2 |
Noncurrent pension liability | 29 | 32 |
Total accrued pension liability | 31 | 34 |
Regulatory liabilities | 19 | 21 |
Amounts to be recognized in net periodic pension expense in the next year [Abstract] | ||
Unrecognized net actuarial loss | -2 | |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | ||
Amounts Recognized in Consolidated Balance Sheets [Abstract] | ||
Noncurrent pension liability | 73 | 100 |
Total accrued pension liability | 73 | 100 |
Regulatory assets | 64 | 71 |
Regulatory liabilities | $91 | $77 |
Employee_Benefit_Plans_Informa
Employee Benefit Plans (Information For Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Qualified Pension Plans [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | $702 | |
Accumulated benefit obligation | 672 | |
Fair value of plan assets | 652 | |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 315 | |
Accumulated benefit obligation | 306 | |
Fair value of plan assets | 302 | |
Non-Qualified Pension Plans [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 337 | 304 |
Accumulated benefit obligation | 333 | 302 |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 16 | 15 |
Accumulated benefit obligation | 15 | 15 |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 116 | 140 |
Accumulated benefit obligation | 116 | 140 |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 35 | 34 |
Accumulated benefit obligation | 35 | 34 |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 61 | 39 |
Accumulated benefit obligation | 61 | 39 |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 4 | 3 |
Accumulated benefit obligation | 4 | 3 |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | ||
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract] | ||
Projected benefit obligation | 5 | 5 |
Accumulated benefit obligation | $5 | $5 |
Employee_Benefit_Plans_Assumpt
Employee Benefit Plans (Assumptions Used For Pension Benefits Accounting) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Qualified Pension Plans [Member] | |||
Benefit Obligations [Abstract] | |||
Discount rate | 4.10% | 4.70% | 4.10% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.70% | 4.10% | |
Expected long-term rate of return on plan assets | 6.75% | 7.75% | |
Qualified Pension Plans [Member] | Minimum [Member] | |||
Benefit Obligations [Abstract] | |||
Salary increase | 4.00% | 4.00% | 4.00% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.60% | ||
Salary increase | 4.00% | 4.00% | 4.00% |
Expected long-term rate of return on plan assets | 8.00% | ||
Qualified Pension Plans [Member] | Maximum [Member] | |||
Benefit Obligations [Abstract] | |||
Salary increase | 4.40% | 4.40% | 4.30% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 5.10% | ||
Salary increase | 4.40% | 4.30% | 4.40% |
Expected long-term rate of return on plan assets | 8.25% | ||
Non-Qualified Pension Plans [Member] | |||
Benefit Obligations [Abstract] | |||
Discount rate | 4.10% | 4.70% | 4.10% |
Salary increase | 4.40% | 4.40% | 4.30% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.70% | 4.10% | |
Salary increase | 4.40% | 4.30% | 4.40% |
Non-Qualified Pension Plans [Member] | Minimum [Member] | |||
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.60% | ||
Non-Qualified Pension Plans [Member] | Maximum [Member] | |||
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 5.10% | ||
Other Post-Retirement Benefit Plans [Member] | |||
Benefit Obligations [Abstract] | |||
Discount rate | 4.10% | 4.70% | 4.10% |
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.70% | 4.10% | |
Expected long-term rate of return on plan assets | 6.75% | 7.75% | |
Assumed tax rate | 35.00% | 35.00% | 35.00% |
Other Post-Retirement Benefit Plans [Member] | Minimum [Member] | |||
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.60% | ||
Expected long-term rate of return on plan assets | 5.00% | ||
Other Post-Retirement Benefit Plans [Member] | Maximum [Member] | |||
Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 5.10% | ||
Expected long-term rate of return on plan assets | 8.00% |
Employee_Benefit_Plans_Assumed
Employee Benefit Plans (Assumed Health Care Cost Trend Rates) (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Health care cost trend rate assumed for next year | 6.75% | 8.50% |
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 4.75% | 5.00% |
Year that the rate reaches the ultimate trend rate | 2023 | 2021 |
Employee_Benefit_Plans_Sensiti
Employee Benefit Plans (Sensitivity to Changes in Assumed Health Care Cost Trend Rates) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | $2 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 36 |
Effect on total service and interest costs - 1 Percentage Point Decrease | -2 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | -31 |
Duke Energy Carolinas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 9 |
Effect on total service and interest costs - 1 Percentage Point Decrease | -1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | -8 |
Progress Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 15 |
Effect on total service and interest costs - 1 Percentage Point Decrease | -1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | -13 |
Duke Energy Progress [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 8 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | -7 |
Duke Energy Florida [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total service and interest costs - 1 Percentage Point Increase | 1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 7 |
Effect on total service and interest costs - 1 Percentage Point Decrease | -1 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | -6 |
Duke Energy Ohio [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 2 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | -1 |
Duke Energy Indiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on post-retirement benefit obligation - 1 Percentage Point Increase | 4 |
Effect on post-retirement benefit obligation - 1 Percentage Point Decrease | ($3) |
Employee_Benefit_Plans_Expecte
Employee Benefit Plans (Expected Benefit Payments) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Qualified Pension Plans [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | $584 |
2016 | 604 |
2017 | 616 |
2018 | 625 |
2019 | 626 |
2020-2024 | 3,107 |
Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 175 |
2016 | 184 |
2017 | 195 |
2018 | 200 |
2019 | 194 |
2020-2024 | 924 |
Qualified Pension Plans [Member] | Progress Energy [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 150 |
2016 | 158 |
2017 | 161 |
2018 | 165 |
2019 | 168 |
2020-2024 | 868 |
Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 80 |
2016 | 85 |
2017 | 86 |
2018 | 87 |
2019 | 88 |
2020-2024 | 437 |
Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 67 |
2016 | 70 |
2017 | 73 |
2018 | 76 |
2019 | 78 |
2020-2024 | 420 |
Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 34 |
2016 | 35 |
2017 | 34 |
2018 | 34 |
2019 | 34 |
2020-2024 | 168 |
Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 45 |
2016 | 46 |
2017 | 45 |
2018 | 46 |
2019 | 46 |
2020-2024 | 229 |
Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 28 |
2016 | 27 |
2017 | 27 |
2018 | 24 |
2019 | 24 |
2020-2024 | 116 |
Non-Qualified Pension Plans [Member] | Duke Energy Carolinas [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 2 |
2016 | 2 |
2017 | 2 |
2018 | 2 |
2019 | 2 |
2020-2024 | 6 |
Non-Qualified Pension Plans [Member] | Progress Energy [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 8 |
2016 | 8 |
2017 | 8 |
2018 | 8 |
2019 | 8 |
2020-2024 | 38 |
Non-Qualified Pension Plans [Member] | Duke Energy Progress [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 3 |
2016 | 3 |
2017 | 3 |
2018 | 3 |
2019 | 3 |
2020-2024 | 13 |
Non-Qualified Pension Plans [Member] | Duke Energy Florida [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 4 |
2016 | 4 |
2017 | 4 |
2018 | 4 |
2019 | 4 |
2020-2024 | 19 |
Non-Qualified Pension Plans [Member] | Duke Energy Ohio [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2020-2024 | 2 |
Non-Qualified Pension Plans [Member] | Duke Energy Indiana [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2020-2024 | 2 |
Other Post-Retirement Benefit Plans [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 77 |
2016 | 77 |
2017 | 76 |
2018 | 74 |
2019 | 73 |
2020-2024 | 332 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Carolinas [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 17 |
2016 | 18 |
2017 | 18 |
2018 | 19 |
2019 | 19 |
2020-2024 | 84 |
Other Post-Retirement Benefit Plans [Member] | Progress Energy [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 30 |
2016 | 30 |
2017 | 29 |
2018 | 29 |
2019 | 29 |
2020-2024 | 132 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Progress [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 16 |
2016 | 16 |
2017 | 15 |
2018 | 15 |
2019 | 15 |
2020-2024 | 70 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Florida [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 14 |
2016 | 14 |
2017 | 14 |
2018 | 14 |
2019 | 13 |
2020-2024 | 61 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Ohio [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 4 |
2016 | 4 |
2017 | 3 |
2018 | 3 |
2019 | 3 |
2020-2024 | 15 |
Other Post-Retirement Benefit Plans [Member] | Duke Energy Indiana [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 10 |
2016 | 10 |
2017 | 9 |
2018 | 9 |
2019 | 8 |
2020-2024 | $35 |
Employee_Benefit_Plans_Target_
Employee Benefit Plans (Target and Actual Asset Allocations) (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 100.00% | 100.00% |
Target allocation | 100.00% | |
Master Trust [Member] | US Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 10.00% | 10.00% |
Target allocation | 10.00% | |
Master Trust [Member] | Non US Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 8.00% | 8.00% |
Target allocation | 8.00% | |
Master Trust [Member] | Global Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 10.00% | 10.00% |
Target allocation | 10.00% | |
Master Trust [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 63.00% | 63.00% |
Target allocation | 63.00% | |
Master Trust [Member] | Global Private Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 3.00% | 3.00% |
Target allocation | 3.00% | |
Master Trust [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 3.00% | 3.00% |
Target allocation | 2.00% | |
Master Trust [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 1.00% | 1.00% |
Target allocation | 2.00% | |
Master Trust [Member] | Other Global Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 2.00% | 2.00% |
Target allocation | 2.00% | |
VEBA I [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 100.00% | 100.00% |
Target allocation | 100.00% | |
VEBA I [Member] | US Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 29.00% | 29.00% |
Target allocation | 30.00% | |
VEBA I [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 43.00% | 42.00% |
Target allocation | 25.00% | |
VEBA I [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual asset allocation | 28.00% | 29.00% |
Target allocation | 45.00% |
Employee_Benefit_Plans_Fair_Va
Employee Benefit Plans (Fair Value Measurements of Plan Assets - Master Retirement Trust) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | $8,618 | $8,261 |
Master Trust [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1,816 | 2,120 |
Master Trust [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 6,366 | 5,595 |
Master Trust [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 436 | 546 |
Master Trust [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 2,346 | 2,877 |
Master Trust [Member] | Equity Securities [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1,625 | 1,801 |
Master Trust [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 721 | 1,022 |
Master Trust [Member] | Equity Securities [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 54 | |
Master Trust [Member] | Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 4,349 | 2,604 |
Master Trust [Member] | Corporate Debt Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 4,348 | 2,601 |
Master Trust [Member] | Corporate Debt Securities [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1 | 3 |
Master Trust [Member] | Short Term Investments [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 333 | 1,158 |
Master Trust [Member] | Short Term Investments [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 171 | 254 |
Master Trust [Member] | Short Term Investments [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 162 | 904 |
Master Trust [Member] | Partnership Interest [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 298 | 307 |
Master Trust [Member] | Partnership Interest [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 298 | 307 |
Master Trust [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 146 | 164 |
Master Trust [Member] | Hedge Funds [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 146 | 111 |
Master Trust [Member] | Hedge Funds [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 53 | |
Master Trust [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 104 | 95 |
Master Trust [Member] | Real Estate [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 104 | 95 |
Master Trust [Member] | US Treasury and Government [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 917 | 927 |
Master Trust [Member] | US Treasury and Government [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 916 | 927 |
Master Trust [Member] | US Treasury and Government [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1 | |
Master Trust [Member] | Guaranteed Investment Contracts [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 32 | 33 |
Master Trust [Member] | Guaranteed Investment Contracts [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 32 | 33 |
Master Trust [Member] | Government Bonds - Foreign [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 44 | 19 |
Master Trust [Member] | Government Bonds - Foreign [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 44 | 18 |
Master Trust [Member] | Government Bonds - Foreign [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 1 | |
Master Trust [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 30 | 58 |
Master Trust [Member] | Cash and Cash Equivalents [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 30 | 58 |
Master Trust [Member] | Asset Backed Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 9 | 7 |
Master Trust [Member] | Asset Backed Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 9 | 7 |
Master Trust [Member] | Miscellaneous Investments And Other [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 10 | 12 |
Master Trust [Member] | Miscellaneous Investments And Other [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | -10 | 7 |
Master Trust [Member] | Miscellaneous Investments And Other [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 20 | 5 |
VEBA I [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 48 | 51 |
VEBA I [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 48 | 51 |
VEBA I [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 14 | 15 |
VEBA I [Member] | Equity Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 14 | 15 |
VEBA I [Member] | Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 21 | 21 |
VEBA I [Member] | Cash and Cash Equivalents [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 21 | 21 |
VEBA I [Member] | Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | 13 | 15 |
VEBA I [Member] | Debt Securities [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total assets | $13 | $15 |
Duke Energy Carolinas [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 28.00% | 28.00% |
Progress Energy [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 31.00% | 35.00% |
Duke Energy Progress [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 15.00% | 16.00% |
Duke Energy Florida [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 16.00% | 16.00% |
Duke Energy Ohio [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 5.00% | 5.00% |
Duke Energy Indiana [Member] | Master Trust [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Allocated assets | 8.00% | 8.00% |
Employee_Benefit_Plans_Reconci
Employee Benefit Plans (Reconciliation of Assets Measured at Fair Value on a Recurring Basis) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $111 | $13 | $85 |
Purchases | 84 | 30 | 36 |
Sales | -58 | -6 | -2 |
Total gains (losses) and other, net | -7 | -42 | 8 |
Ending balance | 155 | 111 | 13 |
Master Trust [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 546 | 352 | |
Combination of trust assets | 288 | ||
Purchases | 17 | 25 | |
Sales | -164 | -152 | |
Total gains (losses) and other, net | 37 | 33 | |
Ending balance | $436 | $546 |
Employee_Benefit_Plans_Employe
Employee Benefit Plans (Employee Savings Plans)(Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Savings Plans [Abstract] | |||
Matching contribution percentage | 100.00% | ||
Eligible pay percentage | 6.00% | ||
Additional contribution percentage for employees not participating in defined pension plans | 4.00% | ||
Pretax employer matching contributions | $143 | $134 | $107 |
Duke Energy Carolinas [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 47 | 45 | 37 |
Progress Energy [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 43 | 45 | 45 |
Duke Energy Progress [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 30 | 25 | 24 |
Duke Energy Florida [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 14 | 14 | 15 |
Duke Energy Ohio [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | 3 | 3 | 4 |
Duke Energy Indiana [Member] | |||
Employee Savings Plans [Abstract] | |||
Pretax employer matching contributions | $7 | $7 | $6 |
Income_Taxes_Components_of_Inc
Income Taxes (Components of Income Tax Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | ($141) | ($108) | |
Current state taxes | 56 | -40 | 29 |
Current foreign taxes | 144 | 151 | 133 |
Total current income taxes | 200 | -30 | 54 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 1,517 | 1,092 | 491 |
Deferred state taxes | 35 | 144 | 71 |
Deferred foreign taxes | -67 | 14 | 20 |
Total deferred income taxes | 1,485 | 1,250 | 582 |
Investment tax credit amortization | -16 | -15 | -13 |
Income tax expense (benefit) from continuing operations | 1,669 | 1,205 | 623 |
Tax expense (benefit) from discontinued operations | -295 | 29 | 107 |
Total income tax expense included in Consolidated Statements of Operations | 1,374 | 1,234 | 730 |
Net operating loss utilization | 1,544 | ||
Net operating loss carry forward | 808 | 1,062 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Domestic | 3,600 | 3,183 | 1,600 |
Foreign | 534 | 612 | 634 |
Total income (loss) from continuing operations before income taxes | 4,134 | 3,795 | 2,234 |
Duke Energy Carolinas [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | 161 | 49 | -1 |
Current state taxes | 51 | 11 | -25 |
Total current income taxes | 212 | 60 | -26 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 407 | 464 | 408 |
Deferred state taxes | -25 | 75 | 77 |
Total deferred income taxes | 382 | 539 | 485 |
Investment tax credit amortization | -6 | -5 | -6 |
Income tax expense (benefit) from continuing operations | 588 | 594 | 453 |
Total income tax expense included in Consolidated Statements of Operations | 588 | 594 | 453 |
Net operating loss utilization | 345 | ||
Net operating loss carry forward | 0 | 245 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 1,660 | 1,570 | 1,318 |
Progress Energy [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | -466 | -221 | -88 |
Current state taxes | -8 | -37 | 2 |
Total current income taxes | -474 | -258 | -86 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 938 | 555 | 226 |
Deferred state taxes | 84 | 84 | 40 |
Total deferred income taxes | 1,022 | 639 | 266 |
Investment tax credit amortization | -8 | -8 | -8 |
Income tax expense (benefit) from continuing operations | 540 | 373 | 172 |
Tax expense (benefit) from discontinued operations | -4 | -26 | 29 |
Total income tax expense included in Consolidated Statements of Operations | 536 | 347 | 201 |
Net operating loss utilization | 530 | ||
Net operating loss carry forward | 458 | 357 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 1,420 | 1,032 | 527 |
Duke Energy Progress [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | -184 | -70 | -48 |
Current state taxes | 14 | -10 | -6 |
Total current income taxes | -170 | -80 | -54 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 436 | 316 | 162 |
Deferred state taxes | 25 | 59 | 9 |
Total deferred income taxes | 461 | 375 | 171 |
Investment tax credit amortization | -6 | -7 | -7 |
Income tax expense (benefit) from continuing operations | 285 | 288 | 110 |
Total income tax expense included in Consolidated Statements of Operations | 285 | 288 | 110 |
Net operating loss utilization | 291 | ||
Net operating loss carry forward | 64 | 257 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 752 | 788 | 382 |
Duke Energy Florida [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | -53 | -143 | 6 |
Current state taxes | 1 | -13 | |
Total current income taxes | -52 | -156 | 6 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 350 | 326 | 121 |
Deferred state taxes | 52 | 44 | 21 |
Total deferred income taxes | 402 | 370 | 142 |
Investment tax credit amortization | -1 | -1 | -1 |
Income tax expense (benefit) from continuing operations | 349 | 213 | 147 |
Total income tax expense included in Consolidated Statements of Operations | 349 | 213 | 147 |
Net operating loss utilization | 64 | ||
Net operating loss carry forward | 301 | 25 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 897 | 538 | 413 |
Duke Energy Ohio [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | -73 | -24 | -8 |
Current state taxes | 3 | -4 | 5 |
Total current income taxes | -70 | -28 | -3 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 113 | 65 | 40 |
Deferred state taxes | 1 | 6 | -2 |
Total deferred income taxes | 114 | 71 | 38 |
Investment tax credit amortization | -1 | -2 | |
Income tax expense (benefit) from continuing operations | 43 | 43 | 33 |
Tax expense (benefit) from discontinued operations | -300 | 32 | 65 |
Total income tax expense included in Consolidated Statements of Operations | -257 | 75 | 98 |
Net operating loss utilization | 56 | ||
Net operating loss carry forward | 34 | ||
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | 111 | 110 | 78 |
Duke Energy Indiana [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current federal taxes | -112 | -88 | -27 |
Current state taxes | 1 | 7 | 27 |
Total current income taxes | -111 | -81 | |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred federal taxes | 294 | 276 | -47 |
Deferred state taxes | 15 | 29 | -25 |
Total deferred income taxes | 309 | 305 | -72 |
Investment tax credit amortization | -1 | -1 | -1 |
Income tax expense (benefit) from continuing operations | 197 | 223 | -73 |
Total income tax expense included in Consolidated Statements of Operations | 197 | 223 | -73 |
Net operating loss utilization | 141 | ||
Net operating loss carry forward | 179 | 205 | |
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract] | |||
Total income (loss) from continuing operations before income taxes | $556 | $581 | ($123) |
Income_Taxes_Effective_Tax_Rat
Income Taxes (Effective Tax Rates) (Details) (USD $) | 12 Months Ended | 96 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2022 | |
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | $1,447,000,000 | $1,328,000,000 | $782,000,000 | |
State income tax, net of federal income tax effect | 59,000,000 | 66,000,000 | 65,000,000 | |
Tax differential on foreign earnings | -110,000,000 | -49,000,000 | -69,000,000 | |
AFUDC equity income | -47,000,000 | -55,000,000 | -101,000,000 | |
Renewable energy production tax credits | -67,000,000 | -62,000,000 | -25,000,000 | |
International Tax Dividend | 373,000,000 | |||
Other items, net | 14,000,000 | -23,000,000 | -29,000,000 | |
Income tax expense (benefit) from continuing operations | 1,669,000,000 | 1,205,000,000 | 623,000,000 | |
Effective tax rate | 40.40% | 31.80% | 27.90% | |
State [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Net reduction in deferred tax liability | 145,000,000 | |||
State [Member] | Current [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 6.90% | |||
State [Member] | January 2014 [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 6.00% | |||
State [Member] | January 2015 [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 5.00% | |||
Foreign Jurisdictions [Member] | Merger of Subsidiaries [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense (benefit) from continuing operations | -57,000,000 | |||
Duke Energy Carolinas [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | 581,000,000 | 549,000,000 | 461,000,000 | |
State income tax, net of federal income tax effect | 17,000,000 | 56,000,000 | 34,000,000 | |
AFUDC equity income | -32,000,000 | -32,000,000 | -54,000,000 | |
Other items, net | 22,000,000 | 21,000,000 | 12,000,000 | |
Income tax expense (benefit) from continuing operations | 588,000,000 | 594,000,000 | 453,000,000 | |
Effective tax rate | 35.40% | 37.80% | 34.30% | |
Duke Energy Carolinas [Member] | State [Member] | Current [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 6.90% | |||
Duke Energy Carolinas [Member] | State [Member] | January 2014 [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 6.00% | |||
Duke Energy Carolinas [Member] | State [Member] | January 2015 [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 5.00% | |||
Progress Energy [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | 497,000,000 | 361,000,000 | 185,000,000 | |
State income tax, net of federal income tax effect | 49,000,000 | 31,000,000 | 33,000,000 | |
AFUDC equity income | -9,000,000 | -18,000,000 | -37,000,000 | |
Other items, net | 3,000,000 | -1,000,000 | -9,000,000 | |
Income tax expense (benefit) from continuing operations | 540,000,000 | 373,000,000 | 172,000,000 | |
Effective tax rate | 38.00% | 36.20% | 32.70% | |
Duke Energy Progress [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | 263,000,000 | 276,000,000 | 134,000,000 | |
State income tax, net of federal income tax effect | 25,000,000 | 31,000,000 | 1,000,000 | |
AFUDC equity income | -9,000,000 | -15,000,000 | -24,000,000 | |
Other items, net | 6,000,000 | -4,000,000 | -1,000,000 | |
Income tax expense (benefit) from continuing operations | 285,000,000 | 288,000,000 | 110,000,000 | |
Effective tax rate | 37.90% | 36.50% | 28.70% | |
Duke Energy Progress [Member] | State [Member] | Current [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 6.90% | |||
Duke Energy Progress [Member] | State [Member] | January 2014 [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 6.00% | |||
Duke Energy Progress [Member] | State [Member] | January 2015 [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Statutory tax rate | 5.00% | |||
Duke Energy Florida [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | 314,000,000 | 188,000,000 | 145,000,000 | |
State income tax, net of federal income tax effect | 34,000,000 | 20,000,000 | 14,000,000 | |
AFUDC equity income | -3,000,000 | -13,000,000 | ||
Other items, net | 1,000,000 | 8,000,000 | 1,000,000 | |
Income tax expense (benefit) from continuing operations | 349,000,000 | 213,000,000 | 147,000,000 | |
Effective tax rate | 38.90% | 39.60% | 35.70% | |
Duke Energy Ohio [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | 39,000,000 | 39,000,000 | 27,000,000 | |
State income tax, net of federal income tax effect | 3,000,000 | 2,000,000 | 2,000,000 | |
AFUDC equity income | -1,000,000 | -2,000,000 | ||
Other items, net | 2,000,000 | 2,000,000 | 6,000,000 | |
Income tax expense (benefit) from continuing operations | 43,000,000 | 43,000,000 | 33,000,000 | |
Effective tax rate | 38.90% | 39.10% | 42.90% | |
Duke Energy Indiana [Member] | ||||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||||
Income tax expense, computed at the statutory rate of 35% | 195,000,000 | 203,000,000 | -43,000,000 | |
State income tax, net of federal income tax effect | 10,000,000 | 23,000,000 | 1,000,000 | |
AFUDC equity income | -5,000,000 | -5,000,000 | -26,000,000 | |
Other items, net | -3,000,000 | 2,000,000 | -5,000,000 | |
Income tax expense (benefit) from continuing operations | 197,000,000 | 223,000,000 | -73,000,000 | |
Effective tax rate | 35.50% | 38.40% | 59.50% | |
Scenario, Forecast [Member] | International Energy [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Foreign Earnings Repatriated | $2,700,000,000 |
Income_Taxes_Deferred_Income_T
Income Taxes (Deferred Income Taxes) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 188 | $245 |
Capital lease obligations | 63 | 59 |
Pension, postretirement and other employee benefits | 546 | 649 |
Progress Energy merger purchase accounting adjustments | 1,124 | 1,184 |
Tax credits and NOL carryforwards | 3,540 | 4,307 |
Other | 265 | |
Valuation allowance | -184 | -192 |
Total deferred income tax assets | 5,277 | 6,517 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | -1,625 | -1,396 |
Accelerated depreciation rates | -11,715 | -12,615 |
Regulatory assets and deferred debits | -3,694 | -3,185 |
Other | -44 | |
Total deferred income tax liabilities | -17,078 | -17,196 |
Net deferred income tax liabilities | -11,801 | -10,679 |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 3,540 | 4,307 |
Valuation allowance | -184 | -192 |
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||
Current Assets: Other | 1,593 | 1,373 |
Investments and Other Assets: Other | 29 | 45 |
Deferred Credits and Other Liabilities: Other | -13,423 | -12,097 |
Net deferred income tax liabilities | -11,801 | -10,679 |
Investment Tax Credits [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 581 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 581 | |
Investment Tax Credits [Member] | Minimum [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-29 | |
Investment Tax Credits [Member] | Maximum [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-34 | |
Alternative Minimum Tax Credit [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 1,093 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 1,093 | |
NOL Carryforwards [Member] | Federal [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 749 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 749 | |
NOL Carryforwards [Member] | State [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 162 | |
Valuation allowance | -79 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 162 | |
Valuation allowance | -79 | |
NOL Carryforwards [Member] | Foreign Jurisdictions [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 117 | |
Valuation allowance | -105 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 117 | |
Valuation allowance | -105 | |
NOL Carryforwards [Member] | Minimum [Member] | Federal [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-30 | |
NOL Carryforwards [Member] | Minimum [Member] | State [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-15 | |
NOL Carryforwards [Member] | Minimum [Member] | Foreign Jurisdictions [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-15 | |
NOL Carryforwards [Member] | Maximum [Member] | Federal [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-33 | |
NOL Carryforwards [Member] | Maximum [Member] | State [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-34 | |
NOL Carryforwards [Member] | Maximum [Member] | Foreign Jurisdictions [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-33 | |
Foreign Tax Credit [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Tax credits and NOL carryforwards | 838 | |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 838 | |
Foreign Tax Credit [Member] | Minimum [Member] | Foreign Jurisdictions [Member] | ||
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Expiration year | 31-Dec-24 | |
Duke Energy Carolinas [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 53 | 56 |
Capital lease obligations | 10 | 11 |
Pension, postretirement and other employee benefits | 4 | 18 |
Tax credits and NOL carryforwards | 157 | 488 |
Other | 12 | 15 |
Total deferred income tax assets | 236 | 588 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | -1,051 | -999 |
Accelerated depreciation rates | -4,046 | -4,400 |
Regulatory assets and deferred debits | -953 | -609 |
Total deferred income tax liabilities | -6,050 | -6,008 |
Net deferred income tax liabilities | -5,814 | -5,420 |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 157 | 488 |
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||
Current Assets: Other | 3 | 286 |
Current Liabilities: Other | -5 | |
Deferred Credits and Other Liabilities: Other | -5,812 | -5,706 |
Net deferred income tax liabilities | -5,814 | -5,420 |
Progress Energy [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 108 | 136 |
Pension, postretirement and other employee benefits | 188 | 341 |
Tax credits and NOL carryforwards | 980 | 1,965 |
Other | 116 | |
Valuation allowance | -13 | -40 |
Total deferred income tax assets | 1,263 | 2,518 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | -427 | -209 |
Accelerated depreciation rates | -3,284 | -3,663 |
Regulatory assets and deferred debits | -1,602 | -1,389 |
Other | -151 | |
Total deferred income tax liabilities | -5,464 | -5,261 |
Net deferred income tax liabilities | -4,201 | -2,743 |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 980 | 1,965 |
Valuation allowance | -13 | -40 |
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||
Current Assets: Other | 558 | 540 |
Deferred Credits and Other Liabilities: Other | -4,759 | -3,283 |
Net deferred income tax liabilities | -4,201 | -2,743 |
Duke Energy Progress [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 28 | 9 |
Pension, postretirement and other employee benefits | 96 | 119 |
Tax credits and NOL carryforwards | 91 | 396 |
Other | 55 | 39 |
Valuation allowance | -1 | -1 |
Total deferred income tax assets | 269 | 562 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | -232 | -160 |
Accelerated depreciation rates | -2,030 | -2,528 |
Regulatory assets and deferred debits | -809 | -202 |
Total deferred income tax liabilities | -3,071 | -2,890 |
Net deferred income tax liabilities | -2,802 | -2,328 |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 91 | 396 |
Valuation allowance | -1 | -1 |
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||
Current Assets: Other | 106 | 229 |
Deferred Credits and Other Liabilities: Other | -2,908 | -2,557 |
Net deferred income tax liabilities | -2,802 | -2,328 |
Duke Energy Florida [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 78 | 96 |
Pension, postretirement and other employee benefits | 93 | 145 |
Tax credits and NOL carryforwards | 252 | 365 |
Other | 43 | |
Total deferred income tax assets | 423 | 649 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | -245 | -49 |
Accelerated depreciation rates | -1,252 | -1,160 |
Regulatory assets and deferred debits | -792 | -1,159 |
Other | -246 | |
Total deferred income tax liabilities | -2,535 | -2,368 |
Net deferred income tax liabilities | -2,112 | -1,719 |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 252 | 365 |
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||
Current Assets: Other | 340 | 110 |
Deferred Credits and Other Liabilities: Other | -2,452 | -1,829 |
Net deferred income tax liabilities | -2,112 | -1,719 |
Duke Energy Ohio [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | -8 | -13 |
Pension, postretirement and other employee benefits | 17 | 23 |
Tax credits and NOL carryforwards | 38 | 165 |
Investments and other assets | 14 | |
Other | 35 | 20 |
Total deferred income tax assets | 96 | 195 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | -17 | |
Accelerated depreciation rates | -1,660 | -1,937 |
Regulatory assets and deferred debits | -141 | -168 |
Total deferred income tax liabilities | -1,801 | -2,122 |
Net deferred income tax liabilities | -1,705 | -1,927 |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 38 | 165 |
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||
Current Assets: Other | 60 | 85 |
Deferred Credits and Other Liabilities: Other | -1,765 | -2,012 |
Net deferred income tax liabilities | -1,705 | -1,927 |
Duke Energy Indiana [Member] | ||
Deferred Tax Assets, Gross [Abstract] | ||
Deferred credits and other liabilities | 12 | 9 |
Capital lease obligations | 2 | -2 |
Pension, postretirement and other employee benefits | 43 | 54 |
Tax credits and NOL carryforwards | 260 | 521 |
Other | 11 | 14 |
Total deferred income tax assets | 328 | 596 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Investments and other assets | -4 | -7 |
Accelerated depreciation rates | -1,603 | -1,591 |
Regulatory assets and deferred debits | -106 | -117 |
Total deferred income tax liabilities | -1,713 | -1,715 |
Net deferred income tax liabilities | -1,385 | -1,119 |
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract] | ||
Tax credits and NOL carryforwards | 260 | 521 |
Classification of Deferred Tax Assets (Liabiliities) in the Consolidated Balance Sheets [Abstract] | ||
Current Assets: Other | 206 | 52 |
Deferred Credits and Other Liabilities: Other | -1,591 | -1,171 |
Net deferred income tax liabilities | -1,385 | ($1,119) |
Income_Taxes_Other_Disclosures
Income Taxes (Other Disclosures) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | $230 | $540 | $385 |
Acquisitions | 128 | ||
Gross increases-tax positions in prior periods | 29 | ||
Gross decreases-tax positions in prior periods | -2 | -231 | -4 |
Gross increases-current period tax positions | 28 | ||
Gross decreases - current period tax positions | -9 | ||
Decreases due to settlements | -15 | -66 | -13 |
Reduction due to lapse of statute of limitations | -13 | -4 | |
Total changes | -17 | -310 | 155 |
Unrecognized Tax Benefits - December 31 | 213 | 230 | 540 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 121 | ||
Amount that if recognized, would be recorded as a component of discontinued operations | 8 | ||
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 28 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 6 | 2 | 10 |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 13 | 27 | 7 |
Duke Energy Carolinas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 171 | 271 | 260 |
Gross increases-tax positions in prior periods | 12 | ||
Gross decreases-tax positions in prior periods | -100 | ||
Gross increases-current period tax positions | 15 | ||
Gross decreases - current period tax positions | -5 | ||
Decreases due to settlements | -11 | -11 | |
Total changes | -11 | -100 | 11 |
Unrecognized Tax Benefits - December 31 | 160 | 171 | 271 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 112 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 2 | 9 | |
Net interest expense recognized related to income taxes | 1 | ||
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest receivable related to income taxes | 7 | ||
Interest payable related to income taxes | 13 | 8 | |
Progress Energy [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 32 | 131 | 173 |
Gross increases-tax positions in prior periods | 1 | 23 | |
Gross decreases-tax positions in prior periods | -86 | -72 | |
Gross increases-current period tax positions | 8 | ||
Gross decreases - current period tax positions | -1 | ||
Decreases due to settlements | -1 | ||
Reduction due to lapse of statute of limitations | -13 | ||
Total changes | -99 | -42 | |
Unrecognized Tax Benefits - December 31 | 32 | 32 | 131 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 3 | ||
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 28 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 3 | 6 | |
Net interest expense recognized related to income taxes | 2 | ||
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 5 | 10 | 17 |
Duke Energy Progress [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 22 | 67 | 73 |
Gross increases-tax positions in prior periods | 1 | 10 | |
Gross decreases-tax positions in prior periods | -45 | -19 | |
Gross increases-current period tax positions | 4 | ||
Gross decreases - current period tax positions | -1 | ||
Total changes | 1 | -45 | -6 |
Unrecognized Tax Benefits - December 31 | 23 | 22 | 67 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 2 | ||
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 17 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 7 | ||
Net interest expense recognized related to income taxes | 1 | ||
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 3 | 2 | 8 |
Duke Energy Florida [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 8 | 44 | 80 |
Gross increases-tax positions in prior periods | 12 | ||
Gross decreases-tax positions in prior periods | -37 | -52 | |
Gross increases-current period tax positions | 4 | ||
Reduction due to lapse of statute of limitations | 1 | ||
Total changes | -36 | -36 | |
Unrecognized Tax Benefits - December 31 | 8 | 8 | 44 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 2 | ||
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 7 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 1 | ||
Net interest expense recognized related to income taxes | 2 | ||
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 5 | 7 | 9 |
Duke Energy Ohio [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 36 | 32 | |
Gross increases-tax positions in prior periods | 2 | ||
Gross decreases-tax positions in prior periods | -36 | ||
Gross increases-current period tax positions | 4 | ||
Gross decreases - current period tax positions | -2 | ||
Total changes | -36 | 4 | |
Unrecognized Tax Benefits - December 31 | 36 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 4 | 4 | |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest payable related to income taxes | 3 | ||
Duke Energy Indiana [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits - January 1 | 1 | 32 | 24 |
Gross increases-tax positions in prior periods | 6 | ||
Gross decreases-tax positions in prior periods | -31 | ||
Gross increases-current period tax positions | 4 | ||
Gross decreases - current period tax positions | -2 | ||
Total changes | -31 | 8 | |
Unrecognized Tax Benefits - December 31 | 1 | 1 | 32 |
Amount that if recognized, would affect the effective tax rate or regulatory liability | 2 | ||
Income Tax Examination, Penalties and Interest Expense [Abstract] | |||
Net interest income recognized related to income taxes | 4 | 1 | 2 |
Income Tax Examination, Penalties and Interest Accrued [Abstract] | |||
Interest receivable related to income taxes | 2 | ||
Interest payable related to income taxes | $1 |
Other_Income_and_Expenses_Net_1
Other Income and Expenses, Net Other Income and Expenses, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | $57 | $26 | $50 |
Foreign exchange gains (losses) | 3 | -18 | 4 |
Equity component of AFUDC | 135 | 157 | 300 |
Deferred returns | 89 | 39 | 24 |
Other income (expense) | 67 | 58 | 19 |
Other income and expenses, net | 351 | 262 | 397 |
Duke Energy Carolinas [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 4 | 1 | 11 |
Equity component of AFUDC | 91 | 91 | 154 |
Deferred returns | 71 | 32 | 24 |
Other income (expense) | 6 | -4 | -4 |
Other income and expenses, net | 172 | 120 | 185 |
Progress Energy [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 3 | 7 | 2 |
Equity component of AFUDC | 26 | 50 | 106 |
Deferred returns | 17 | 7 | |
Other income (expense) | 31 | 30 | 22 |
Other income and expenses, net | 77 | 94 | 130 |
Duke Energy Progress [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 1 | 1 | |
Equity component of AFUDC | 25 | 42 | 69 |
Deferred returns | 17 | 7 | |
Other income (expense) | 9 | 7 | 9 |
Other income and expenses, net | 51 | 57 | 79 |
Duke Energy Florida [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 2 | 3 | 1 |
Equity component of AFUDC | 8 | 37 | |
Other income (expense) | 18 | 19 | 1 |
Other income and expenses, net | 20 | 30 | 39 |
Duke Energy Ohio [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 8 | 5 | |
Equity component of AFUDC | 4 | 1 | 6 |
Other income (expense) | -2 | -4 | 2 |
Other income and expenses, net | 10 | 2 | 8 |
Duke Energy Indiana [Member] | |||
Component Of Other Income Expense Nonoperating [Line Items] | |||
Interest income | 6 | 6 | 7 |
Equity component of AFUDC | 14 | 15 | 84 |
Other income (expense) | 2 | -3 | -1 |
Other income and expenses, net | $22 | $18 | $90 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Schedule of Quarterly Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | $5,559 | $6,395 | $5,708 | $6,263 | $5,610 | $6,217 | $5,393 | $5,536 | $23,925 | $22,756 | $17,912 |
Operating income (loss) | 988 | 1,619 | 1,289 | 1,362 | 1,193 | 1,660 | 742 | 1,259 | 5,258 | 4,854 | 2,911 |
Income (loss) from continuing operations | 99 | 891 | 725 | 750 | 689 | 946 | 292 | 663 | 2,465 | 2,590 | 1,611 |
Income (Loss) From Discontinued Operations, net of tax | 1 | 378 | -112 | -843 | 3 | 62 | 50 | -29 | -576 | 86 | 171 |
Net income (loss) | 100 | 1,269 | 613 | -93 | 692 | 1,008 | 342 | 634 | 1,889 | 2,676 | 1,782 |
Net income (loss) attributable to Parent | 97 | 1,274 | 609 | -97 | 688 | 1,004 | 339 | 634 | 1,883 | 2,665 | 1,768 |
Income (loss) from continuing operations attributable to Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic | $0.14 | $1.25 | $1.02 | $1.05 | $0.96 | $1.33 | $0.40 | $0.93 | $3.46 | $3.64 | $2.77 |
Diluted | $0.14 | $1.25 | $1.02 | $1.05 | $0.96 | $1.33 | $0.40 | $0.93 | $3.46 | $3.63 | $2.77 |
Income (loss) from discontinued operations attributable To Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic | $0.55 | ($0.16) | ($1.19) | $0.01 | $0.09 | $0.08 | ($0.04) | ($0.80) | $0.13 | $0.30 | |
Diluted | $0.55 | ($0.16) | ($1.19) | $0.01 | $0.09 | $0.08 | ($0.04) | ($0.80) | $0.13 | $0.30 | |
Net income attributable to Duke Energy Corporation common shareholders [Abstract] | |||||||||||
Basic | $0.14 | $1.80 | $0.86 | ($0.14) | $0.97 | $1.42 | $0.48 | $0.89 | $2.66 | $3.77 | $3.07 |
Diluted | $0.14 | $1.80 | $0.86 | ($0.14) | $0.97 | $1.42 | $0.48 | $0.89 | $2.66 | $3.76 | $3.07 |
Duke Energy Carolinas [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 1,658 | 1,938 | 1,755 | 2,000 | 1,715 | 1,919 | 1,591 | 1,729 | 7,351 | 6,954 | 6,665 |
Operating income (loss) | 318 | 630 | 438 | 509 | 420 | 604 | 351 | 434 | 1,895 | 1,809 | 1,517 |
Net income (loss) | 139 | 377 | 270 | 286 | 209 | 342 | 181 | 244 | 1,072 | 976 | |
Net income (loss) attributable to Parent | 1,072 | 976 | 865 | ||||||||
Progress Energy [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 2,341 | 2,863 | 2,421 | 2,541 | 2,300 | 2,766 | 2,281 | 2,186 | 10,166 | 9,533 | 9,405 |
Operating income (loss) | 388 | 665 | 488 | 477 | 403 | 671 | 114 | 430 | 2,018 | 1,618 | 1,137 |
Income (loss) from continuing operations | 139 | 330 | 207 | 204 | 190 | 328 | -13 | 154 | 880 | 659 | 355 |
Income (Loss) From Discontinued Operations, net of tax | -6 | 16 | 52 | ||||||||
Net income (loss) | 139 | 330 | 202 | 203 | 196 | 342 | -17 | 154 | 874 | 675 | 407 |
Net income (loss) attributable to Parent | 136 | 329 | 202 | 202 | 195 | 341 | -17 | 153 | 869 | 672 | 400 |
Duke Energy Progress [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 1,196 | 1,367 | 1,191 | 1,422 | 1,211 | 1,430 | 1,135 | 1,216 | 5,176 | 4,992 | 4,706 |
Operating income (loss) | 180 | 285 | 212 | 258 | 251 | 303 | 166 | 212 | 935 | 932 | 510 |
Net income (loss) | 76 | 157 | 101 | 133 | 138 | 175 | 77 | 110 | 467 | 500 | 272 |
Duke Energy Florida [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 1,143 | 1,491 | 1,225 | 1,116 | 1,085 | 1,332 | 1,142 | 968 | 4,975 | 4,527 | 4,689 |
Operating income (loss) | 205 | 378 | 276 | 219 | 151 | 369 | -53 | 221 | 1,078 | 688 | 629 |
Net income (loss) | 93 | 205 | 142 | 108 | 75 | 197 | -57 | 110 | 548 | 325 | 266 |
Duke Energy Ohio [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 480 | 446 | 412 | 575 | 456 | 438 | 408 | 503 | 1,913 | 1,805 | 1,820 |
Operating income (loss) | 74 | 58 | 62 | -7 | 49 | 50 | 27 | 56 | 187 | 182 | 159 |
Income (loss) from continuing operations | 68 | 67 | 45 | ||||||||
Income (Loss) From Discontinued Operations, net of tax | 34 | 413 | -135 | -875 | -4 | 35 | 51 | -47 | -563 | 35 | 130 |
Net income (loss) | 64 | 439 | -108 | -890 | 6 | 59 | 58 | -21 | -495 | 102 | 175 |
Net income (loss) attributable to Parent | -495 | 102 | 175 | ||||||||
Duke Energy Indiana [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Operating revenues | 792 | 790 | 748 | 845 | 747 | 755 | 700 | 724 | 3,175 | 2,926 | 2,717 |
Operating income (loss) | 130 | 182 | 178 | 215 | 181 | 203 | 168 | 181 | 705 | 733 | -75 |
Net income (loss) | 58 | 101 | 87 | 113 | 82 | 104 | 82 | 90 | 359 | 358 | |
Net income (loss) attributable to Parent | $359 | $358 | ($50) |
Quarterly_Financial_Data_Unaud3
Quarterly Financial Data (Unaudited) (Unusual or Infrequently Occurring Items) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve the merger | ($33) | ($56) | ($61) | ($55) | ($72) | ($88) | ($82) | ($55) | ($205) | ($297) | |
Pretax impairment charge | -81 | -399 | -666 | ||||||||
Gain on sale of equity investment | 17 | 100 | 22 | ||||||||
Deferred foreign taxes | -67 | 14 | 20 | ||||||||
Total | -547 | 421 | -61 | -1,436 | -24 | -88 | -464 | -55 | -1,623 | -631 | |
Midwest Generation Impairment [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -39 | 477 | -1,287 | -849 | |||||||
Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Coal ash Plea Agreements Reserve | -102 | -102 | |||||||||
International Tax Adjustment [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Deferred foreign taxes | -373 | -373 | |||||||||
OVEC [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -94 | -94 | |||||||||
DukeNet [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Gain on sale of equity investment | 105 | 105 | |||||||||
Crystal River Unit 3 Retirement [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -57 | -295 | -352 | ||||||||
Nuclear Development Charges [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -87 | -87 | |||||||||
Duke Energy Carolinas [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve the merger | -17 | -25 | -38 | -29 | -29 | -34 | -35 | -22 | -109 | -120 | |
Pretax impairment charge | -3 | -31 | |||||||||
Total | -89 | -25 | -38 | -29 | -181 | ||||||
Duke Energy Carolinas [Member] | Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Coal ash Plea Agreements Reserve | -72 | -72 | |||||||||
Progress Energy [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve the merger | -13 | -21 | -12 | -19 | -28 | -42 | -33 | -19 | -65 | -122 | |
Pretax impairment charge | 16 | -380 | -200 | ||||||||
Total | -43 | -21 | -12 | -19 | -85 | -42 | -415 | -19 | -95 | -561 | |
Progress Energy [Member] | Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Coal ash Plea Agreements Reserve | -30 | -30 | |||||||||
Progress Energy [Member] | Crystal River Unit 3 Retirement [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -57 | -295 | -352 | ||||||||
Progress Energy [Member] | Nuclear Development Charges [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -87 | -87 | |||||||||
Duke Energy Progress [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve the merger | -10 | -15 | -3 | -14 | -19 | -32 | -22 | -11 | -42 | -84 | |
Pretax impairment charge | 18 | -22 | -54 | ||||||||
Total | -40 | -15 | -3 | -14 | -19 | -32 | -44 | -11 | -72 | -106 | |
Duke Energy Progress [Member] | Ash Basin [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Coal ash Plea Agreements Reserve | -30 | -30 | |||||||||
Duke Energy Progress [Member] | Nuclear Development Charges [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -22 | -22 | |||||||||
Duke Energy Florida [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve the merger | -3 | -6 | -9 | -5 | -9 | -10 | -11 | -8 | -23 | -38 | |
Pretax impairment charge | -2 | -358 | -146 | ||||||||
Total | -66 | -10 | -371 | -8 | -455 | ||||||
Duke Energy Florida [Member] | Crystal River Unit 3 Retirement [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -57 | -295 | -352 | ||||||||
Duke Energy Florida [Member] | Nuclear Development Charges [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -65 | -65 | |||||||||
Duke Energy Ohio [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve the merger | -2 | -3 | -4 | -2 | -4 | -4 | -4 | -4 | -11 | -16 | |
Pretax impairment charge | -94 | -5 | -2 | ||||||||
Total | -41 | 474 | -4 | -1,414 | -985 | ||||||
Duke Energy Ohio [Member] | Midwest Generation Impairment [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -39 | 477 | -1,318 | -880 | |||||||
Duke Energy Ohio [Member] | OVEC [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Pretax impairment charge | -94 | -94 | |||||||||
Duke Energy Indiana [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Costs to achieve the merger | -2 | -3 | -5 | -2 | -5 | -5 | -5 | -4 | -12 | -19 | |
Pretax impairment charge | $0 | $0 | ($579) |