Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 30, 2020 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 1-32853 | |
Entity Registrant Name | DUKE ENERGY CORPORATION | |
Entity Tax Identification Number | 20-2777218 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 550 South Tryon Street | |
Entity Address, City or Town | Charlotte | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 28202-1803 | |
City Area Code | 704 | |
Local Phone Number | 382-3853 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 734,852,539 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Amendment Flag | false | |
Entity Central Index Key | 0001326160 | |
Duke Energy Carolinas | ||
Document Information [Line Items] | ||
Entity File Number | 1-4928 | |
Entity Registrant Name | DUKE ENERGY CAROLINAS, LLC | |
Entity Tax Identification Number | 56-0205520 | |
Entity Incorporation, State or Country Code | NC | |
Entity Address, Address Line One | 526 South Church Street | |
Entity Address, City or Town | Charlotte | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 28202-1803 | |
City Area Code | 704 | |
Local Phone Number | 382-3853 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000030371 | |
Progress Energy | ||
Document Information [Line Items] | ||
Entity File Number | 1-15929 | |
Entity Registrant Name | PROGRESS ENERGY, INC. | |
Entity Tax Identification Number | 56-2155481 | |
Entity Incorporation, State or Country Code | NC | |
Entity Address, Address Line One | 410 South Wilmington Street | |
Entity Address, City or Town | Raleigh | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 27601-1748 | |
City Area Code | 704 | |
Local Phone Number | 382-3853 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0001094093 | |
Duke Energy Progress | ||
Document Information [Line Items] | ||
Entity File Number | 1-3382 | |
Entity Registrant Name | DUKE ENERGY PROGRESS, LLC | |
Entity Tax Identification Number | 56-0165465 | |
Entity Incorporation, State or Country Code | NC | |
Entity Address, Address Line One | 410 South Wilmington Street | |
Entity Address, City or Town | Raleigh | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 27601-1748 | |
City Area Code | 704 | |
Local Phone Number | 382-3853 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000017797 | |
Duke Energy Florida | ||
Document Information [Line Items] | ||
Entity File Number | 1-3274 | |
Entity Registrant Name | DUKE ENERGY FLORIDA, LLC | |
Entity Tax Identification Number | 59-0247770 | |
Entity Incorporation, State or Country Code | FL | |
Entity Address, Address Line One | 299 First Avenue North | |
Entity Address, City or Town | St. Petersburg | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33701 | |
City Area Code | 704 | |
Local Phone Number | 382-3853 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Shell Company | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000037637 | |
Duke Energy Ohio | ||
Document Information [Line Items] | ||
Entity File Number | 1-1232 | |
Entity Registrant Name | DUKE ENERGY OHIO, INC. | |
Entity Tax Identification Number | 31-0240030 | |
Entity Incorporation, State or Country Code | OH | |
Entity Address, Address Line One | 139 East Fourth Street | |
Entity Address, City or Town | Cincinnati | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 45202 | |
City Area Code | 704 | |
Local Phone Number | 382-3853 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Shell Company | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000020290 | |
Duke Energy Indiana | ||
Document Information [Line Items] | ||
Entity File Number | 1-3543 | |
Entity Registrant Name | DUKE ENERGY INDIANA, LLC | |
Entity Tax Identification Number | 35-0594457 | |
Entity Incorporation, State or Country Code | IN | |
Entity Address, Address Line One | 1000 East Main Street | |
Entity Address, City or Town | Plainfield | |
Entity Address, State or Province | IN | |
Entity Address, Postal Zip Code | 46168 | |
City Area Code | 704 | |
Local Phone Number | 382-3853 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Shell Company | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000081020 | |
Piedmont Natural Gas | ||
Document Information [Line Items] | ||
Entity File Number | 1-6196 | |
Entity Registrant Name | PIEDMONT NATURAL GAS COMPANY, INC. | |
Entity Tax Identification Number | 56-0556998 | |
Entity Incorporation, State or Country Code | NC | |
Entity Address, Address Line One | 4720 Piedmont Row Drive | |
Entity Address, City or Town | Charlotte | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 28210 | |
City Area Code | 704 | |
Local Phone Number | 364-3120 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Shell Company | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000078460 | |
Common Stock | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock, $0.001 par value | |
Trading Symbol | DUK | |
Security Exchange Name | NYSE | |
Junior Subordinated Debentures 5.125% Coupon Due January 2073 [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | 5.125% Junior Subordinated Debentures | |
Trading Symbol | DUKH | |
Security Exchange Name | NYSE | |
Junior Subordinated Debentures 5.625% Coupon Due September 2078 [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | 5.625% Junior Subordinated Debentures | |
Trading Symbol | DUKB | |
Security Exchange Name | NYSE | |
Depositary Share [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Depositary Shares | |
Trading Symbol | DUK PR A | |
Security Exchange Name | NYSE |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Operating Revenues | |||
Regulated electric | $ 5,124 | $ 5,285 | |
Regulated natural gas | 638 | 728 | |
Nonregulated electric and other | 187 | 150 | |
Total operating revenues | 5,949 | 6,163 | |
Operating Expenses | |||
Operation, maintenance and other | 1,339 | 1,419 | |
Depreciation and amortization | 1,130 | 1,089 | |
Property and other taxes | 345 | 343 | |
Impairment charges | 2 | ||
Total operating expenses | 4,462 | 4,787 | |
Gains (Losses) on Sales of Other Assets and Other, net | 1 | (3) | |
Operating Income | 1,488 | 1,373 | |
Other Income and Expenses | |||
Equity in earnings of unconsolidated affiliates | 44 | 43 | |
Other income and expenses, net | 46 | 115 | |
Total other income and expenses | 90 | 158 | |
Interest Expense | 551 | 543 | |
Income Before Income Taxes | 1,027 | 988 | |
Income Tax Expense | 137 | 95 | |
Net Income | 890 | 893 | |
Less: Net Loss Attributable to Noncontrolling Interests | (48) | (7) | |
Net Income Attributable to Parent | 938 | 900 | |
Less: Preferred Dividends | 39 | ||
Net Income (Loss) Available to Common Stockholders, Basic | 899 | 900 | |
Other Comprehensive Income (Loss), net of tax | |||
Pension and OPEB adjustments | 1 | ||
Net unrealized (losses) gains on cash flow hedges | (81) | (17) | |
Unrealized gains on available-for-sale securities | 1 | 4 | |
Other Comprehensive Loss, net of tax | (77) | [1] | (12) |
Comprehensive Income | 813 | 881 | |
Less: Comprehensive Loss Attributable to Noncontrolling Interests | (62) | (7) | |
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | $ 836 | $ 888 | |
Net income attributable to Duke Energy Corporation common stockholders | |||
Basic and Diluted (in usd per share) | $ 1.24 | $ 1.24 | |
Weighted average shares outstanding | |||
Weighted Average Number of Shares Outstanding, Basic | 734 | 727 | |
Weighted Average Number of Shares Outstanding, Diluted | 736 | 727 | |
Duke Energy Carolinas | |||
Operating Revenues | |||
Total operating revenues | $ 1,748 | $ 1,744 | |
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 453 | 472 | |
Operation, maintenance and other | 386 | 440 | |
Depreciation and amortization | 343 | 317 | |
Property and other taxes | 81 | 80 | |
Impairment charges | 2 | ||
Total operating expenses | 1,265 | 1,309 | |
Gains (Losses) on Sales of Other Assets and Other, net | 1 | ||
Operating Income | 484 | 435 | |
Other Income and Expenses | |||
Total other income and expenses | 43 | 31 | |
Interest Expense | 123 | 110 | |
Income Before Income Taxes | 404 | 356 | |
Income Tax Expense | 65 | 63 | |
Net Income Attributable to Parent | 339 | 293 | |
Other Comprehensive Income (Loss), net of tax | |||
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | 339 | 293 | |
Progress Energy | |||
Operating Revenues | |||
Total operating revenues | 2,422 | 2,572 | |
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 763 | 925 | |
Operation, maintenance and other | 554 | 567 | |
Depreciation and amortization | 452 | 455 | |
Property and other taxes | 135 | 137 | |
Total operating expenses | 1,904 | 2,084 | |
Gains (Losses) on Sales of Other Assets and Other, net | (1) | ||
Operating Income | 517 | 488 | |
Other Income and Expenses | |||
Total other income and expenses | 32 | 31 | |
Interest Expense | 206 | 219 | |
Income Before Income Taxes | 343 | 300 | |
Income Tax Expense | 60 | 52 | |
Net Income | 283 | 248 | |
Less: Net Loss Attributable to Noncontrolling Interests | (1) | ||
Net Income Attributable to Parent | 283 | 249 | |
Other Comprehensive Income (Loss), net of tax | |||
Pension and OPEB adjustments | 1 | ||
Net unrealized (losses) gains on cash flow hedges | 1 | 2 | |
Unrealized gains on available-for-sale securities | 1 | ||
Other Comprehensive Loss, net of tax | 2 | 3 | |
Comprehensive Income | 285 | 251 | |
Less: Comprehensive Loss Attributable to Noncontrolling Interests | (1) | ||
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | 285 | 252 | |
Duke Energy Progress | |||
Operating Revenues | |||
Total operating revenues | 1,338 | 1,484 | |
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 405 | 515 | |
Operation, maintenance and other | 305 | 335 | |
Depreciation and amortization | 287 | 290 | |
Property and other taxes | 47 | 44 | |
Total operating expenses | 1,044 | 1,184 | |
Gains (Losses) on Sales of Other Assets and Other, net | (1) | ||
Operating Income | 293 | 300 | |
Other Income and Expenses | |||
Total other income and expenses | 22 | 24 | |
Interest Expense | 69 | 77 | |
Income Before Income Taxes | 246 | 247 | |
Income Tax Expense | 42 | 44 | |
Net Income Attributable to Parent | 204 | 203 | |
Other Comprehensive Income (Loss), net of tax | |||
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | 204 | 203 | |
Duke Energy Florida | |||
Operating Revenues | |||
Total operating revenues | 1,080 | 1,086 | |
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 358 | 410 | |
Operation, maintenance and other | 245 | 230 | |
Depreciation and amortization | 165 | 165 | |
Property and other taxes | 88 | 93 | |
Total operating expenses | 856 | 898 | |
Operating Income | 224 | 188 | |
Other Income and Expenses | |||
Total other income and expenses | 10 | 13 | |
Interest Expense | 84 | 82 | |
Income Before Income Taxes | 150 | 119 | |
Income Tax Expense | 30 | 23 | |
Net Income Attributable to Parent | 120 | 96 | |
Other Comprehensive Income (Loss), net of tax | |||
Unrealized gains on available-for-sale securities | 1 | 1 | |
Other Comprehensive Loss, net of tax | 1 | 1 | |
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | 121 | 97 | |
Duke Energy Ohio | |||
Operating Revenues | |||
Regulated electric | 346 | 355 | |
Regulated natural gas | 152 | 176 | |
Total operating revenues | 498 | 531 | |
Operating Expenses | |||
Operation, maintenance and other | 123 | 132 | |
Depreciation and amortization | 68 | 64 | |
Property and other taxes | 83 | 84 | |
Total operating expenses | 398 | 427 | |
Operating Income | 100 | 104 | |
Other Income and Expenses | |||
Total other income and expenses | 3 | 9 | |
Interest Expense | 24 | 30 | |
Income Before Income Taxes | 79 | 83 | |
Income Tax Expense | 14 | 14 | |
Net Income Attributable to Parent | 65 | 69 | |
Other Comprehensive Income (Loss), net of tax | |||
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | 65 | 69 | |
Duke Energy Indiana | |||
Operating Revenues | |||
Total operating revenues | 692 | 768 | |
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 194 | 257 | |
Operation, maintenance and other | 186 | 189 | |
Depreciation and amortization | 132 | 131 | |
Property and other taxes | 22 | 19 | |
Total operating expenses | 534 | 596 | |
Gains (Losses) on Sales of Other Assets and Other, net | (3) | ||
Operating Income | 158 | 169 | |
Other Income and Expenses | |||
Total other income and expenses | 10 | 19 | |
Interest Expense | 43 | 43 | |
Income Before Income Taxes | 125 | 145 | |
Income Tax Expense | 26 | 35 | |
Net Income Attributable to Parent | 99 | 110 | |
Other Comprehensive Income (Loss), net of tax | |||
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | 99 | 110 | |
Piedmont Natural Gas | |||
Operating Revenues | |||
Total operating revenues | 512 | 579 | |
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 162 | 273 | |
Operation, maintenance and other | 80 | 80 | |
Depreciation and amortization | 45 | 42 | |
Property and other taxes | 12 | 12 | |
Total operating expenses | 299 | 407 | |
Operating Income | 213 | 172 | |
Other Income and Expenses | |||
Equity in earnings of unconsolidated affiliates | 2 | 2 | |
Other income and expenses, net | 12 | 6 | |
Interest Expense | 27 | 22 | |
Income Before Income Taxes | 198 | 156 | |
Income Tax Expense | 20 | 34 | |
Net Income Attributable to Parent | 178 | 122 | |
Other Comprehensive Income (Loss), net of tax | |||
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | 178 | 122 | |
Fuel used in electric generation and purchased power | Duke Energy Ohio | |||
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 87 | 93 | |
Fuel used in electric generation and purchased power | |||
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 1,447 | 1,609 | |
Cost of natural gas | |||
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | 199 | 327 | |
Cost of natural gas | Duke Energy Ohio | |||
Operating Expenses | |||
Fuel used in electric generation and purchased power/Cost of natural gas | $ 37 | $ 54 | |
[1] | Net of income tax impact of approximately $23 million in the first quarter of 2020 and immaterial income tax impact in the first quarter of 2019. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] | |||
Net Income | $ 890 | $ 893 | |
Other Comprehensive Loss, net of tax(a) | |||
Pension and OPEB adjustments | 1 | ||
Net unrealized losses on cash flow hedges | (81) | (17) | |
Reclassification into earnings from cash flow hedges | 2 | 1 | |
Unrealized gains on available-for-sale securities | 1 | 4 | |
Other Comprehensive Loss, net of tax | (77) | [1] | (12) |
Comprehensive Income | 813 | 881 | |
Less: Comprehensive Loss Attributable to Noncontrolling Interests | (62) | (7) | |
Comprehensive Income Attributable to Duke Energy | 875 | 888 | |
Less: Preferred Dividends | 39 | ||
Comprehensive Income Available to Duke Energy Corporation Common Stockholders | $ 836 | $ 888 | |
[1] | Net of income tax impact of approximately $23 million in the first quarter of 2020 and immaterial income tax impact in the first quarter of 2019. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Statement of Comprehensive Income [Abstract] | |
Other comprehensive income (loss), tax | $ 23 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 1,450 | $ 311 |
Receivables (net of allowance for doubtful accounts) | 809 | 1,066 |
Receivables of VIEs (net of allowance for doubtful accounts) | 1,828 | 1,994 |
Inventory | 3,324 | 3,232 |
Regulatory assets (includes amounts related to VIEs) | 1,770 | 1,796 |
Other (includes amounts related to VIEs) | 1,000 | 764 |
Total current assets | 10,181 | 9,163 |
Property, Plant and Equipment | ||
Cost | 149,676 | 147,654 |
Accumulated depreciation and amortization | (46,599) | (45,773) |
Generation facilities to be retired, net | 31 | 246 |
Net property, plant and equipment | 103,108 | 102,127 |
Other Noncurrent Assets | ||
Goodwill | 19,303 | 19,303 |
Regulatory assets (includes amounts related to VIEs) | 13,413 | 13,222 |
Nuclear decommissioning trust funds | 7,052 | 8,140 |
Operating lease right-of-use assets, net | 1,633 | 1,658 |
Investments in equity method unconsolidated affiliates | 2,067 | 1,936 |
Other (includes amounts related to VIEs) | 3,315 | 3,289 |
Total other noncurrent assets | 46,783 | 47,548 |
Total Assets | 160,072 | 158,838 |
Current Liabilities | ||
Accounts payable | 2,364 | 3,487 |
Notes payable and commercial paper | 3,033 | 3,135 |
Taxes accrued | 493 | 392 |
Interest accrued | 571 | 565 |
Current maturities of long-term debt (includes amounts related to VIEs) | 5,077 | 3,141 |
Asset retirement obligations | 802 | 881 |
Regulatory liabilities | 826 | 784 |
Other | 2,004 | 2,367 |
Total current liabilities | 15,170 | 14,752 |
Long-Term Debt (includes amounts related to VIEs) | 56,311 | 54,985 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 9,321 | 8,878 |
Asset retirement obligations | 12,497 | 12,437 |
Regulatory liabilities | 14,029 | 15,264 |
Operating lease liabilities | 1,414 | 1,432 |
Accrued pension and other post-retirement benefit costs | 919 | 934 |
Investment tax credits | 659 | 624 |
Other (includes amounts related to VIEs) | 1,669 | 1,581 |
Total other noncurrent liabilities | 40,508 | 41,150 |
Commitments and Contingencies | ||
Equity | ||
Common stock | 1 | 1 |
Additional paid-in capital | 40,930 | 40,881 |
Retained earnings | 4,221 | 4,108 |
Accumulated other comprehensive loss | (193) | (130) |
Total Duke Energy Corporation stockholders' equity | 46,921 | 46,822 |
Noncontrolling interests | 1,162 | 1,129 |
Total equity | 48,083 | 47,951 |
Total Liabilities and Equity | 160,072 | 158,838 |
Duke Energy Carolinas | ||
Current Assets | ||
Cash and cash equivalents | 16 | 18 |
Receivables (net of allowance for doubtful accounts) | 212 | 324 |
Receivables of VIEs (net of allowance for doubtful accounts) | 616 | 642 |
Receivables from affiliated companies | 87 | 114 |
Notes receivable from affiliated companies | 436 | |
Inventory | 1,067 | 996 |
Regulatory assets (includes amounts related to VIEs) | 524 | 550 |
Other (includes amounts related to VIEs) | 31 | 21 |
Total current assets | 2,989 | 2,665 |
Property, Plant and Equipment | ||
Cost | 49,534 | 48,922 |
Accumulated depreciation and amortization | (16,884) | (16,525) |
Net property, plant and equipment | 32,650 | 32,397 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 3,427 | 3,360 |
Nuclear decommissioning trust funds | 3,717 | 4,359 |
Operating lease right-of-use assets, net | 132 | 123 |
Other (includes amounts related to VIEs) | 1,136 | 1,149 |
Total other noncurrent assets | 8,412 | 8,991 |
Total Assets | 44,051 | 44,053 |
Current Liabilities | ||
Accounts payable | 605 | 954 |
Accounts payable to affiliated companies | 225 | 210 |
Notes payable to affiliated companies | 29 | |
Taxes accrued | 132 | 46 |
Interest accrued | 144 | 115 |
Current maturities of long-term debt (includes amounts related to VIEs) | 457 | 458 |
Asset retirement obligations | 197 | 206 |
Regulatory liabilities | 275 | 255 |
Other | 479 | 611 |
Total current liabilities | 2,514 | 2,884 |
Long-Term Debt (includes amounts related to VIEs) | 12,050 | 11,142 |
Long-Term Debt Payable to Affiliated Companies | 300 | 300 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 3,968 | 3,921 |
Asset retirement obligations | 5,552 | 5,528 |
Regulatory liabilities | 5,766 | 6,423 |
Operating lease liabilities | 112 | 102 |
Accrued pension and other post-retirement benefit costs | 82 | 84 |
Investment tax credits | 230 | 231 |
Other (includes amounts related to VIEs) | 640 | 627 |
Total other noncurrent liabilities | 16,350 | 16,916 |
Equity | ||
Member's equity | 12,844 | 12,818 |
Accumulated other comprehensive loss | (7) | (7) |
Total member's equity | 12,837 | 12,811 |
Total Liabilities and Equity | 44,051 | 44,053 |
Progress Energy | ||
Current Assets | ||
Cash and cash equivalents | 52 | 48 |
Receivables (net of allowance for doubtful accounts) | 159 | 220 |
Receivables of VIEs (net of allowance for doubtful accounts) | 745 | 830 |
Receivables from affiliated companies | 49 | 76 |
Notes receivable from affiliated companies | 164 | |
Inventory | 1,463 | 1,423 |
Regulatory assets (includes amounts related to VIEs) | 954 | 946 |
Other (includes amounts related to VIEs) | 196 | 210 |
Total current assets | 3,618 | 3,917 |
Property, Plant and Equipment | ||
Cost | 55,788 | 55,070 |
Accumulated depreciation and amortization | (17,461) | (17,159) |
Generation facilities to be retired, net | 31 | 246 |
Net property, plant and equipment | 38,358 | 38,157 |
Other Noncurrent Assets | ||
Goodwill | 3,655 | 3,655 |
Regulatory assets (includes amounts related to VIEs) | 6,489 | 6,346 |
Nuclear decommissioning trust funds | 3,335 | 3,782 |
Operating lease right-of-use assets, net | 762 | 788 |
Other (includes amounts related to VIEs) | 1,121 | 1,049 |
Total other noncurrent assets | 15,362 | 15,620 |
Total Assets | 57,338 | 57,694 |
Current Liabilities | ||
Accounts payable | 730 | 1,104 |
Accounts payable to affiliated companies | 329 | 310 |
Notes payable to affiliated companies | 2,300 | 1,821 |
Taxes accrued | 117 | 46 |
Interest accrued | 214 | 228 |
Current maturities of long-term debt (includes amounts related to VIEs) | 1,828 | 1,577 |
Asset retirement obligations | 421 | 485 |
Regulatory liabilities | 347 | 330 |
Other | 821 | 902 |
Total current liabilities | 7,107 | 6,803 |
Long-Term Debt (includes amounts related to VIEs) | 17,377 | 17,907 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 4,537 | 4,462 |
Asset retirement obligations | 6,020 | 5,986 |
Regulatory liabilities | 4,708 | 5,225 |
Operating lease liabilities | 678 | 697 |
Accrued pension and other post-retirement benefit costs | 480 | 488 |
Other (includes amounts related to VIEs) | 404 | 383 |
Total other noncurrent liabilities | 16,827 | 17,241 |
Equity | ||
Additional paid-in capital | 9,143 | 9,143 |
Retained earnings | 6,747 | 6,465 |
Accumulated other comprehensive loss | (16) | (18) |
Total Duke Energy Corporation stockholders' equity | 15,874 | 15,590 |
Noncontrolling interests | 3 | 3 |
Total equity | 15,877 | 15,593 |
Total Liabilities and Equity | 57,338 | 57,694 |
Duke Energy Progress | ||
Current Assets | ||
Cash and cash equivalents | 32 | 22 |
Receivables (net of allowance for doubtful accounts) | 77 | 123 |
Receivables of VIEs (net of allowance for doubtful accounts) | 410 | 489 |
Receivables from affiliated companies | 50 | 52 |
Inventory | 956 | 934 |
Regulatory assets (includes amounts related to VIEs) | 503 | 526 |
Other (includes amounts related to VIEs) | 48 | 60 |
Total current assets | 2,076 | 2,206 |
Property, Plant and Equipment | ||
Cost | 34,898 | 34,603 |
Accumulated depreciation and amortization | (12,114) | (11,915) |
Generation facilities to be retired, net | 31 | 246 |
Net property, plant and equipment | 22,815 | 22,934 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 4,392 | 4,152 |
Nuclear decommissioning trust funds | 2,644 | 3,047 |
Operating lease right-of-use assets, net | 377 | 387 |
Other (includes amounts related to VIEs) | 682 | 651 |
Total other noncurrent assets | 8,095 | 8,237 |
Total Assets | 32,986 | 33,377 |
Current Liabilities | ||
Accounts payable | 319 | 629 |
Accounts payable to affiliated companies | 208 | 203 |
Notes payable to affiliated companies | 229 | 66 |
Taxes accrued | 43 | 17 |
Interest accrued | 90 | 110 |
Current maturities of long-term debt (includes amounts related to VIEs) | 1,006 | 1,006 |
Asset retirement obligations | 421 | 485 |
Regulatory liabilities | 263 | 236 |
Other | 429 | 478 |
Total current liabilities | 3,008 | 3,230 |
Long-Term Debt (includes amounts related to VIEs) | 7,903 | 7,902 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 2,446 | 2,388 |
Asset retirement obligations | 5,442 | 5,408 |
Regulatory liabilities | 3,790 | 4,232 |
Operating lease liabilities | 344 | 354 |
Accrued pension and other post-retirement benefit costs | 235 | 238 |
Investment tax credits | 135 | 137 |
Other (includes amounts related to VIEs) | 83 | 92 |
Total other noncurrent liabilities | 12,475 | 12,849 |
Equity | ||
Total member's equity | 9,450 | 9,246 |
Total Liabilities and Equity | 32,986 | 33,377 |
Duke Energy Florida | ||
Current Assets | ||
Cash and cash equivalents | 12 | 17 |
Receivables (net of allowance for doubtful accounts) | 80 | 96 |
Receivables of VIEs (net of allowance for doubtful accounts) | 335 | 341 |
Notes receivable from affiliated companies | 173 | |
Inventory | 508 | 489 |
Regulatory assets (includes amounts related to VIEs) | 451 | 419 |
Other (includes amounts related to VIEs) | 37 | 58 |
Total current assets | 1,423 | 1,593 |
Property, Plant and Equipment | ||
Cost | 20,880 | 20,457 |
Accumulated depreciation and amortization | (5,339) | (5,236) |
Net property, plant and equipment | 15,541 | 15,221 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 2,097 | 2,194 |
Nuclear decommissioning trust funds | 691 | 734 |
Operating lease right-of-use assets, net | 386 | 401 |
Other (includes amounts related to VIEs) | 329 | 311 |
Total other noncurrent assets | 3,503 | 3,640 |
Total Assets | 20,467 | 20,454 |
Current Liabilities | ||
Accounts payable | 411 | 474 |
Accounts payable to affiliated companies | 111 | 131 |
Notes payable to affiliated companies | 305 | |
Taxes accrued | 74 | 43 |
Interest accrued | 79 | 75 |
Current maturities of long-term debt (includes amounts related to VIEs) | 322 | 571 |
Regulatory liabilities | 84 | 94 |
Other | 383 | 415 |
Total current liabilities | 1,769 | 1,803 |
Long-Term Debt (includes amounts related to VIEs) | 7,384 | 7,416 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 2,192 | 2,179 |
Asset retirement obligations | 578 | 578 |
Regulatory liabilities | 918 | 993 |
Operating lease liabilities | 334 | 343 |
Accrued pension and other post-retirement benefit costs | 214 | 218 |
Other (includes amounts related to VIEs) | 169 | 136 |
Total other noncurrent liabilities | 4,405 | 4,447 |
Equity | ||
Member's equity | 6,909 | 6,789 |
Accumulated other comprehensive loss | (1) | |
Total member's equity | 6,909 | 6,788 |
Total Liabilities and Equity | 20,467 | 20,454 |
Duke Energy Ohio | ||
Current Assets | ||
Cash and cash equivalents | 14 | 17 |
Receivables (net of allowance for doubtful accounts) | 84 | 84 |
Receivables from affiliated companies | 52 | 92 |
Inventory | 121 | 135 |
Regulatory assets (includes amounts related to VIEs) | 33 | 49 |
Other (includes amounts related to VIEs) | 11 | 21 |
Total current assets | 315 | 398 |
Property, Plant and Equipment | ||
Cost | 10,401 | 10,241 |
Accumulated depreciation and amortization | (2,883) | (2,843) |
Net property, plant and equipment | 7,518 | 7,398 |
Other Noncurrent Assets | ||
Goodwill | 920 | 920 |
Regulatory assets (includes amounts related to VIEs) | 567 | 549 |
Operating lease right-of-use assets, net | 21 | 21 |
Other (includes amounts related to VIEs) | 56 | 52 |
Total other noncurrent assets | 1,564 | 1,542 |
Total Assets | 9,397 | 9,338 |
Current Liabilities | ||
Accounts payable | 227 | 288 |
Accounts payable to affiliated companies | 68 | 68 |
Notes payable to affiliated companies | 399 | 312 |
Taxes accrued | 170 | 219 |
Interest accrued | 30 | 30 |
Asset retirement obligations | 3 | 1 |
Regulatory liabilities | 66 | 64 |
Other | 68 | 75 |
Total current liabilities | 1,031 | 1,057 |
Long-Term Debt (includes amounts related to VIEs) | 2,595 | 2,594 |
Long-Term Debt Payable to Affiliated Companies | 25 | 25 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 942 | 922 |
Asset retirement obligations | 78 | 79 |
Regulatory liabilities | 760 | 763 |
Operating lease liabilities | 20 | 21 |
Accrued pension and other post-retirement benefit costs | 101 | 100 |
Other (includes amounts related to VIEs) | 97 | 94 |
Total other noncurrent liabilities | 1,998 | 1,979 |
Equity | ||
Common stock | 762 | 762 |
Additional paid-in capital | 2,776 | 2,776 |
Retained earnings | 210 | 145 |
Total Duke Energy Corporation stockholders' equity | 3,748 | 3,683 |
Total Liabilities and Equity | 9,397 | 9,338 |
Duke Energy Indiana | ||
Current Assets | ||
Cash and cash equivalents | 15 | 25 |
Receivables (net of allowance for doubtful accounts) | 50 | 60 |
Receivables from affiliated companies | 76 | 79 |
Notes receivable from affiliated companies | 543 | |
Inventory | 538 | 517 |
Regulatory assets (includes amounts related to VIEs) | 78 | 90 |
Other (includes amounts related to VIEs) | 36 | 60 |
Total current assets | 1,336 | 831 |
Property, Plant and Equipment | ||
Cost | 16,481 | 16,305 |
Accumulated depreciation and amortization | (5,349) | (5,233) |
Net property, plant and equipment | 11,132 | 11,072 |
Other Noncurrent Assets | ||
Regulatory assets (includes amounts related to VIEs) | 1,098 | 1,082 |
Operating lease right-of-use assets, net | 57 | 57 |
Other (includes amounts related to VIEs) | 214 | 234 |
Total other noncurrent assets | 1,369 | 1,373 |
Total Assets | 13,837 | 13,276 |
Current Liabilities | ||
Accounts payable | 157 | 201 |
Accounts payable to affiliated companies | 66 | 87 |
Notes payable to affiliated companies | 30 | |
Taxes accrued | 81 | 49 |
Interest accrued | 60 | 58 |
Current maturities of long-term debt (includes amounts related to VIEs) | 503 | 503 |
Asset retirement obligations | 181 | 189 |
Regulatory liabilities | 46 | 55 |
Other | 92 | 112 |
Total current liabilities | 1,186 | 1,284 |
Long-Term Debt (includes amounts related to VIEs) | 3,950 | 3,404 |
Long-Term Debt Payable to Affiliated Companies | 150 | 150 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 1,158 | 1,150 |
Asset retirement obligations | 645 | 643 |
Regulatory liabilities | 1,672 | 1,685 |
Operating lease liabilities | 54 | 55 |
Accrued pension and other post-retirement benefit costs | 148 | 148 |
Investment tax credits | 170 | 164 |
Other (includes amounts related to VIEs) | 30 | 18 |
Total other noncurrent liabilities | 3,877 | 3,863 |
Equity | ||
Total member's equity | 4,674 | 4,575 |
Total Liabilities and Equity | 13,837 | 13,276 |
Piedmont Natural Gas | ||
Current Assets | ||
Cash and cash equivalents | 4 | |
Receivables (net of allowance for doubtful accounts) | 191 | 241 |
Receivables from affiliated companies | 13 | 10 |
Inventory | 39 | 72 |
Regulatory assets (includes amounts related to VIEs) | 96 | 73 |
Other (includes amounts related to VIEs) | 13 | 28 |
Total current assets | 356 | 424 |
Property, Plant and Equipment | ||
Cost | 8,653 | 8,446 |
Accumulated depreciation and amortization | (1,703) | (1,681) |
Net property, plant and equipment | 6,950 | 6,765 |
Other Noncurrent Assets | ||
Goodwill | 49 | 49 |
Regulatory assets (includes amounts related to VIEs) | 263 | 290 |
Operating lease right-of-use assets, net | 23 | 24 |
Investments in equity method unconsolidated affiliates | 84 | 83 |
Other (includes amounts related to VIEs) | 132 | 121 |
Total other noncurrent assets | 551 | 567 |
Total Assets | 7,857 | 7,756 |
Current Liabilities | ||
Accounts payable | 145 | 215 |
Accounts payable to affiliated companies | 12 | 3 |
Notes payable to affiliated companies | 486 | 476 |
Taxes accrued | 36 | 24 |
Interest accrued | 32 | 33 |
Regulatory liabilities | 91 | 81 |
Other | 54 | 67 |
Total current liabilities | 856 | 899 |
Long-Term Debt (includes amounts related to VIEs) | 2,385 | 2,384 |
Other Noncurrent Liabilities | ||
Deferred income taxes | 742 | 708 |
Asset retirement obligations | 17 | 17 |
Regulatory liabilities | 1,087 | 1,131 |
Operating lease liabilities | 22 | 23 |
Accrued pension and other post-retirement benefit costs | 7 | 3 |
Other (includes amounts related to VIEs) | 121 | 148 |
Total other noncurrent liabilities | 1,996 | 2,030 |
Equity | ||
Common stock | 1,310 | 1,310 |
Retained earnings | 1,310 | 1,133 |
Total Duke Energy Corporation stockholders' equity | 2,620 | 2,443 |
Total Liabilities and Equity | 7,857 | 7,756 |
Preferred stock, Series A | ||
Equity | ||
Preferred stock | 973 | 973 |
Preferred stock, Series B | ||
Equity | ||
Preferred stock | $ 989 | $ 989 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Allowance for doubtful accounts - receivables | $ 28 | $ 22 |
Regulatory Assets: Current | 1,770 | 1,796 |
Current Assets: Other | 1,000 | 764 |
Other Noncurrent Assets: Regulatory assets | 13,413 | 13,222 |
Other, noncurrent assets | 3,315 | 3,289 |
Current maturities of long-term debt | 5,077 | 3,141 |
Long-Term Debt | $ 56,311 | $ 54,985 |
Common stock, par value (in usd per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares outstanding | 735,000,000 | 733,000,000 |
Other, noncurrent liabilities | $ 1,669 | $ 1,581 |
Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 61 | 54 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 300 | 242 |
Other Noncurrent Assets: Regulatory assets | 980 | 989 |
Other, noncurrent assets | 87 | 110 |
Current maturities of long-term debt | 216 | 216 |
Long-Term Debt | 3,966 | 3,997 |
Other, noncurrent liabilities | 258 | 228 |
Duke Energy Carolinas | ||
Allowance for doubtful accounts - receivables | 3 | 3 |
Regulatory Assets: Current | 524 | 550 |
Current Assets: Other | 31 | 21 |
Other Noncurrent Assets: Regulatory assets | 3,427 | 3,360 |
Other, noncurrent assets | 1,136 | 1,149 |
Current maturities of long-term debt | 457 | 458 |
Long-Term Debt | 12,050 | 11,142 |
Other, noncurrent liabilities | 640 | 627 |
Duke Energy Carolinas | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 8 | 7 |
Progress Energy | ||
Allowance for doubtful accounts - receivables | 8 | 7 |
Regulatory Assets: Current | 954 | 946 |
Current Assets: Other | 196 | 210 |
Other Noncurrent Assets: Regulatory assets | 6,489 | 6,346 |
Other, noncurrent assets | 1,121 | 1,049 |
Current maturities of long-term debt | 1,828 | 1,577 |
Long-Term Debt | $ 17,377 | $ 17,907 |
Common stock, par value (in usd per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Other, noncurrent liabilities | $ 404 | $ 383 |
Progress Energy | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 12 | 9 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 13 | 39 |
Other Noncurrent Assets: Regulatory assets | 980 | 989 |
Current maturities of long-term debt | 54 | 54 |
Long-Term Debt | 1,603 | 1,632 |
Duke Energy Progress | ||
Allowance for doubtful accounts - receivables | 2 | 3 |
Regulatory Assets: Current | 503 | 526 |
Current Assets: Other | 48 | 60 |
Other Noncurrent Assets: Regulatory assets | 4,392 | 4,152 |
Other, noncurrent assets | 682 | 651 |
Current maturities of long-term debt | 1,006 | 1,006 |
Long-Term Debt | 7,903 | 7,902 |
Other, noncurrent liabilities | 83 | 92 |
Duke Energy Progress | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 7 | 5 |
Duke Energy Florida | ||
Allowance for doubtful accounts - receivables | 6 | 3 |
Regulatory Assets: Current | 451 | 419 |
Current Assets: Other | 37 | 58 |
Other Noncurrent Assets: Regulatory assets | 2,097 | 2,194 |
Other, noncurrent assets | 329 | 311 |
Current maturities of long-term debt | 322 | 571 |
Long-Term Debt | 7,384 | 7,416 |
Other, noncurrent liabilities | 169 | 136 |
Duke Energy Florida | Variable Interest Entity [Member] | ||
Allowance for doubtful accounts - receivables of VIEs | 5 | 4 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 13 | 39 |
Other Noncurrent Assets: Regulatory assets | 980 | 989 |
Current maturities of long-term debt | 54 | 54 |
Long-Term Debt | 1,278 | 1,307 |
Duke Energy Ohio | ||
Allowance for doubtful accounts - receivables | 5 | 4 |
Regulatory Assets: Current | 33 | 49 |
Current Assets: Other | 11 | 21 |
Other Noncurrent Assets: Regulatory assets | 567 | 549 |
Other, noncurrent assets | 56 | 52 |
Long-Term Debt | $ 2,595 | $ 2,594 |
Common stock, par value (in usd per share) | $ 8.50 | $ 8.50 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares outstanding | 90,000,000 | 90,000,000 |
Other, noncurrent liabilities | $ 97 | $ 94 |
Duke Energy Indiana | ||
Allowance for doubtful accounts - receivables | 3 | 3 |
Regulatory Assets: Current | 78 | 90 |
Current Assets: Other | 36 | 60 |
Other Noncurrent Assets: Regulatory assets | 1,098 | 1,082 |
Other, noncurrent assets | 214 | 234 |
Current maturities of long-term debt | 503 | 503 |
Long-Term Debt | 3,950 | 3,404 |
Other, noncurrent liabilities | 30 | 18 |
Piedmont Natural Gas | ||
Allowance for doubtful accounts - receivables | 5 | 2 |
Regulatory Assets: Current | 96 | 73 |
Current Assets: Other | 13 | 28 |
Other Noncurrent Assets: Regulatory assets | 263 | 290 |
Other, noncurrent assets | 132 | 121 |
Long-Term Debt | $ 2,385 | $ 2,384 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
Other, noncurrent liabilities | $ 121 | $ 148 |
Preferred stock, Series A | ||
Preferred stock, par value (in usd per share) | $ 0.001 | $ 0.001 |
Preferred stock, depositary shares authorized | 40,000,000 | 40,000,000 |
Preferred stock, depositary shares outstanding | 40,000,000 | 40,000,000 |
Preferred stock, Series B | ||
Preferred stock, par value (in usd per share) | $ 0.001 | $ 0.001 |
Preferred stock, depositary shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, depositary shares outstanding | 1,000,000 | 1,000,000 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 890 | $ 893 |
Net income (attributable to parent) | 938 | 900 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 1,301 | 1,238 |
Equity component of AFUDC | (40) | (31) |
(Gains) Losses on sales of other assets | (1) | 3 |
Impairment charges | 2 | |
Deferred income taxes | 422 | 97 |
Equity in earnings of unconsolidated affiliates | (44) | (43) |
Payments for asset retirement obligations | (132) | (152) |
Provision for rate refunds | (13) | 35 |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | 10 | |
Receivables | 466 | 388 |
Inventory | (92) | (31) |
Other current assets | (131) | 98 |
Increase (decrease) in | ||
Accounts payable | (657) | (636) |
Taxes accrued | 113 | (107) |
Other current liabilities | (455) | (407) |
Other assets | (25) | (162) |
Other liabilities | (50) | 46 |
Net cash provided by operating activities | 1,554 | 1,239 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (2,832) | (2,536) |
Contributions to equity method investments | (77) | (94) |
Purchases of debt and equity securities | (1,392) | (860) |
Proceeds from sales and maturities of debt and equity securities | 1,347 | 851 |
Other | (68) | (74) |
Net cash used in investing activities | (3,022) | (2,713) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 1,954 | 2,737 |
Proceeds from the issuance of preferred stock | 974 | |
Proceeds from the issuance of common stock | 40 | 13 |
Payments for the redemption of long-term debt | (292) | (1,201) |
Proceeds from the issuance of short-term debt with original maturities greater than 90 days | 1,784 | 135 |
Payments for the redemption of short-term debt with original maturities greater than 90 days | (17) | (239) |
Notes payable and commercial paper | (198) | (304) |
Contributions from noncontrolling interests | 103 | 6 |
Dividends paid | (707) | (649) |
Other | (74) | (39) |
Net cash provided by financing activities | 2,593 | 1,433 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 1,125 | (41) |
Cash, cash equivalents and restricted cash at beginning of period | 573 | 591 |
Cash, cash equivalents and restricted cash at end of period | 1,698 | 550 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 934 | 811 |
Non-cash dividends | 27 | 27 |
Duke Energy Carolinas | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (attributable to parent) | 339 | 293 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 414 | 388 |
Equity component of AFUDC | (14) | (9) |
(Gains) Losses on sales of other assets | (1) | |
Impairment charges | 2 | |
Deferred income taxes | 22 | 64 |
Payments for asset retirement obligations | (41) | (65) |
Provision for rate refunds | 19 | |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | 1 | |
Receivables | 156 | 124 |
Receivable from affiliated companies | 27 | 94 |
Inventory | (72) | (59) |
Other current assets | 96 | (35) |
Increase (decrease) in | ||
Accounts payable | (253) | (266) |
Accounts payable to affiliated companies | 15 | 18 |
Taxes accrued | 87 | (91) |
Other current liabilities | (108) | (70) |
Other assets | (60) | (31) |
Other liabilities | (11) | (7) |
Net cash provided by operating activities | 598 | 368 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (724) | (721) |
Purchases of debt and equity securities | (607) | (405) |
Proceeds from sales and maturities of debt and equity securities | 607 | 405 |
Notes receivable from affiliated companies | (436) | |
Other | (18) | (9) |
Net cash used in investing activities | (1,178) | (730) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 910 | 25 |
Payments for the redemption of long-term debt | (2) | (1) |
Notes payable to affiliated companies | (29) | 306 |
Distributions to parent | (300) | |
Other | (1) | (1) |
Net cash provided by financing activities | 578 | 329 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (2) | (33) |
Cash, cash equivalents and restricted cash at beginning of period | 18 | 33 |
Cash, cash equivalents and restricted cash at end of period | 16 | |
Significant non-cash transactions: | ||
Accrued capital expenditures | 254 | 221 |
Progress Energy | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | 283 | 248 |
Net income (attributable to parent) | 283 | 249 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 552 | 546 |
Equity component of AFUDC | (14) | (15) |
(Gains) Losses on sales of other assets | 1 | |
Deferred income taxes | 80 | 82 |
Payments for asset retirement obligations | (79) | (75) |
Provision for rate refunds | 2 | 6 |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | 1 | 1 |
Receivables | 149 | 187 |
Receivable from affiliated companies | 27 | 122 |
Inventory | (40) | (18) |
Other current assets | 43 | 35 |
Increase (decrease) in | ||
Accounts payable | (211) | (196) |
Accounts payable to affiliated companies | 19 | (94) |
Taxes accrued | 71 | 26 |
Other current liabilities | (128) | (196) |
Other assets | (41) | (111) |
Other liabilities | (56) | (7) |
Net cash provided by operating activities | 659 | 541 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (972) | (1,012) |
Purchases of debt and equity securities | (651) | (409) |
Proceeds from sales and maturities of debt and equity securities | 643 | 405 |
Notes receivable from affiliated companies | 164 | (31) |
Other | (39) | (45) |
Net cash used in investing activities | (855) | (1,092) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 1,295 | |
Payments for the redemption of long-term debt | (283) | (1,132) |
Notes payable to affiliated companies | 479 | 370 |
Other | (1) | 1 |
Net cash provided by financing activities | 195 | 534 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (1) | (17) |
Cash, cash equivalents and restricted cash at beginning of period | 126 | 112 |
Cash, cash equivalents and restricted cash at end of period | 125 | 95 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 310 | 310 |
Duke Energy Progress | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (attributable to parent) | 204 | 203 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 331 | 336 |
Equity component of AFUDC | (10) | (14) |
(Gains) Losses on sales of other assets | 1 | |
Deferred income taxes | 43 | 33 |
Payments for asset retirement obligations | (75) | (68) |
Provision for rate refunds | 2 | 6 |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | (2) | (3) |
Receivables | 133 | 87 |
Receivable from affiliated companies | 2 | (5) |
Inventory | (22) | (5) |
Other current assets | 54 | 96 |
Increase (decrease) in | ||
Accounts payable | (220) | (196) |
Accounts payable to affiliated companies | 5 | (57) |
Taxes accrued | 26 | (4) |
Other current liabilities | (73) | (109) |
Other assets | (51) | (47) |
Other liabilities | (8) | (7) |
Net cash provided by operating activities | 340 | 246 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (466) | (548) |
Purchases of debt and equity securities | (550) | (315) |
Proceeds from sales and maturities of debt and equity securities | 540 | 308 |
Notes receivable from affiliated companies | (38) | |
Other | (16) | (20) |
Net cash used in investing activities | (492) | (613) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 1,270 | |
Payments for the redemption of long-term debt | (1) | (601) |
Notes payable to affiliated companies | 163 | (294) |
Other | (1) | |
Net cash provided by financing activities | 162 | 374 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 10 | 7 |
Cash, cash equivalents and restricted cash at beginning of period | 22 | 23 |
Cash, cash equivalents and restricted cash at end of period | 32 | 30 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 87 | 117 |
Duke Energy Florida | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (attributable to parent) | 120 | 96 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 219 | 207 |
Equity component of AFUDC | (4) | (1) |
Deferred income taxes | 34 | 45 |
Payments for asset retirement obligations | (5) | (7) |
(Increase) decrease in | ||
Net realized and unrealized mark-to-market and hedging transactions | 3 | 2 |
Receivables | 15 | 55 |
Receivable from affiliated companies | (6) | |
Inventory | (19) | (13) |
Other current assets | 7 | (35) |
Increase (decrease) in | ||
Accounts payable | 11 | |
Accounts payable to affiliated companies | (20) | (62) |
Taxes accrued | 31 | 20 |
Other current liabilities | (58) | (84) |
Other assets | 13 | (63) |
Other liabilities | (46) | (1) |
Net cash provided by operating activities | 301 | 153 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (506) | (422) |
Purchases of debt and equity securities | (101) | (95) |
Proceeds from sales and maturities of debt and equity securities | 103 | 97 |
Notes receivable from affiliated companies | 173 | |
Other | (23) | (25) |
Net cash used in investing activities | (354) | (445) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 25 | |
Payments for the redemption of long-term debt | (282) | (81) |
Notes payable to affiliated companies | 305 | 291 |
Other | (1) | 2 |
Net cash provided by financing activities | 22 | 237 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (31) | (55) |
Cash, cash equivalents and restricted cash at beginning of period | 56 | 75 |
Cash, cash equivalents and restricted cash at end of period | 25 | 20 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 223 | 193 |
Duke Energy Ohio | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (attributable to parent) | 65 | 69 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 69 | 65 |
Equity component of AFUDC | (1) | (3) |
Deferred income taxes | 14 | 20 |
Payments for asset retirement obligations | (1) | |
Provision for rate refunds | 3 | 4 |
(Increase) decrease in | ||
Receivables | 1 | 5 |
Receivable from affiliated companies | 40 | 35 |
Inventory | 14 | 15 |
Other current assets | 8 | (6) |
Increase (decrease) in | ||
Accounts payable | (19) | (5) |
Accounts payable to affiliated companies | (8) | |
Taxes accrued | (49) | (45) |
Other current liabilities | 2 | 14 |
Other assets | (2) | (10) |
Other liabilities | (8) | (4) |
Net cash provided by operating activities | 137 | 145 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (217) | (233) |
Notes receivable from affiliated companies | (463) | |
Other | (10) | (11) |
Net cash used in investing activities | (227) | (707) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 794 | |
Notes payable to affiliated companies | 87 | (236) |
Net cash provided by financing activities | 87 | 558 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (3) | (4) |
Cash, cash equivalents and restricted cash at beginning of period | 17 | 21 |
Cash, cash equivalents and restricted cash at end of period | 14 | 17 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 66 | 68 |
Duke Energy Indiana | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (attributable to parent) | 99 | 110 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 133 | 132 |
Equity component of AFUDC | (6) | (4) |
(Gains) Losses on sales of other assets | 3 | |
Deferred income taxes | 16 | 28 |
Payments for asset retirement obligations | (12) | (11) |
(Increase) decrease in | ||
Receivables | 15 | 4 |
Receivable from affiliated companies | 3 | 20 |
Inventory | (21) | (13) |
Other current assets | 25 | 19 |
Increase (decrease) in | ||
Accounts payable | (13) | 8 |
Accounts payable to affiliated companies | (21) | (11) |
Taxes accrued | 43 | 20 |
Other current liabilities | (27) | (15) |
Other assets | (4) | 12 |
Other liabilities | 8 | 6 |
Net cash provided by operating activities | 238 | 308 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (210) | (208) |
Purchases of debt and equity securities | (5) | (6) |
Proceeds from sales and maturities of debt and equity securities | 2 | 4 |
Notes receivable from affiliated companies | (543) | |
Other | (6) | (11) |
Net cash used in investing activities | (762) | (221) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from the issuance of long-term debt | 544 | |
Payments for the redemption of long-term debt | (60) | |
Notes payable to affiliated companies | (30) | (31) |
Net cash provided by financing activities | 514 | (91) |
Net increase (decrease) in cash, cash equivalents and restricted cash | (10) | (4) |
Cash, cash equivalents and restricted cash at beginning of period | 25 | 24 |
Cash, cash equivalents and restricted cash at end of period | 15 | 20 |
Significant non-cash transactions: | ||
Accrued capital expenditures | 70 | 76 |
Piedmont Natural Gas | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (attributable to parent) | 178 | 122 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion (including amortization of nuclear fuel) | 46 | 42 |
Equity component of AFUDC | (5) | |
Deferred income taxes | 12 | 23 |
Equity in earnings of unconsolidated affiliates | (2) | (2) |
Provision for rate refunds | (18) | 7 |
(Increase) decrease in | ||
Receivables | 65 | 27 |
Receivable from affiliated companies | (3) | 12 |
Inventory | 33 | 45 |
Other current assets | (9) | 22 |
Increase (decrease) in | ||
Accounts payable | (76) | (44) |
Accounts payable to affiliated companies | 9 | (4) |
Taxes accrued | 12 | (49) |
Other current liabilities | (12) | 15 |
Other assets | 1 | (3) |
Other liabilities | (1) | (5) |
Net cash provided by operating activities | 230 | 208 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditures | (231) | (209) |
Other | (5) | (2) |
Net cash used in investing activities | (236) | (211) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Notes payable to affiliated companies | 10 | 3 |
Net cash provided by financing activities | 10 | 3 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 4 | |
Cash, cash equivalents and restricted cash at end of period | 4 | |
Significant non-cash transactions: | ||
Accrued capital expenditures | $ 114 | $ 92 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Millions | Total | Preferred Stock | Common Stockholders' Equity | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive (Loss) Income, Net (Losses) Gains on Cash Flow Hedges | Accumulated Other Comprehensive (Loss) Income, Net Unrealized (Losses) Gains on Available-for-Sale-Securities | Accumulated Other Comprehensive (Loss) Income, Pension and OPEB Adjustments | Noncontrolling Interests | Duke Energy Carolinas | Duke Energy CarolinasMember's Equity | Duke Energy CarolinasAccumulated Other Comprehensive (Loss) Income, Net (Losses) Gains on Cash Flow Hedges | Progress Energy | Progress EnergyCommon Stockholders' Equity | Progress EnergyAdditional Paid-in Capital | Progress EnergyRetained Earnings | Progress EnergyAccumulated Other Comprehensive (Loss) Income, Net (Losses) Gains on Cash Flow Hedges | Progress EnergyAccumulated Other Comprehensive (Loss) Income, Net Unrealized (Losses) Gains on Available-for-Sale-Securities | Progress EnergyAccumulated Other Comprehensive (Loss) Income, Pension and OPEB Adjustments | Progress EnergyNoncontrolling Interests | Duke Energy Progress | Duke Energy ProgressMember's Equity | Duke Energy Florida | Duke Energy FloridaMember's Equity | Duke Energy FloridaAccumulated Other Comprehensive (Loss) Income, Net Unrealized (Losses) Gains on Available-for-Sale-Securities | Duke Energy Ohio | Duke Energy OhioCommon Stock | Duke Energy OhioAdditional Paid-in Capital | Duke Energy OhioRetained Earnings | Duke Energy Indiana | Duke Energy IndianaMember's Equity | Piedmont Natural Gas | Piedmont Natural GasCommon Stock | Piedmont Natural GasRetained Earnings | Preferred stock, Series A | Preferred stock, Series APreferred Stock | Preferred stock, Series ACommon Stockholders' Equity | [1] | Preferred stock, Series B | Common Stock | Common StockCommon Stockholders' Equity | Common StockCommon Stock | Common StockAdditional Paid-in Capital | ||||||||||||||||
Beginning Balance at Dec. 31, 2018 | $ 43,834 | $ 43,817 | $ 1 | $ 40,795 | $ 3,113 | $ (14) | $ (3) | $ (75) | $ 17 | $ 14,257 | $ 14,254 | $ 9,143 | $ 5,131 | $ (12) | $ (1) | $ (7) | $ 3 | |||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, in shares at Dec. 31, 2018 | 727,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (member's equity) at Dec. 31, 2018 | $ 11,683 | $ 11,689 | $ (6) | $ 8,441 | $ 6,095 | $ 6,097 | $ (2) | $ 4,339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (parent) at Dec. 31, 2018 | $ 3,445 | $ 762 | $ 2,776 | $ (93) | $ 2,091 | $ 1,160 | $ 931 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (attributable to parent) | 900 | 293 | 293 | 249 | $ 203 | 203 | 96 | 96 | 69 | 69 | $ 110 | 110 | 122 | 122 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Income | 893 | 248 | 249 | 249 | (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 893 | 900 | 900 | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (12) | (12) | (16) | 4 | 3 | 3 | 2 | 1 | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | $ 974 | [1] | $ 974 | [1] | $ 974 | $ 28 | $ 28 | $ 28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, in shares | 40,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | (676) | (676) | (676) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 4 | [2] | (1) | [2] | 23 | [2] | (6) | [2] | (1) | [2] | (17) | [2] | 5 | [2] | (1) | (1) | 6 | [3] | (4) | [3] | (2) | [3] | ||||||||||||||||||||||||||||||||||||||
Ending Balance at Mar. 31, 2019 | 45,045 | $ 974 | 45,030 | $ 1 | 40,823 | 3,360 | (36) | (92) | 15 | 14,508 | 14,506 | 9,143 | 5,386 | (14) | (1) | (8) | 2 | |||||||||||||||||||||||||||||||||||||||||||
Ending Balance, in shares at Mar. 31, 2019 | 728,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (member's equity) at Mar. 31, 2019 | 11,975 | 11,982 | (7) | 8,644 | 6,192 | 6,193 | (1) | 4,449 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Mar. 31, 2019 | $ 3,514 | 762 | 2,776 | (24) | $ 2,213 | 1,160 | 1,053 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2019 | $ 47,951 | 1,962 | 46,822 | $ 1 | 40,881 | 4,108 | (51) | 3 | (82) | 1,129 | $ 15,593 | 15,590 | 9,143 | 6,465 | (10) | (1) | (7) | 3 | ||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, in shares at Dec. 31, 2019 | 733,000,000 | 733,000,000 | 100 | 90,000,000 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, in shares at Dec. 31, 2019 | 40,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (member's equity) at Dec. 31, 2019 | 12,811 | 12,818 | (7) | 9,246 | 9,246 | 6,788 | 6,789 | (1) | 4,575 | 4,575 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance (parent) at Dec. 31, 2019 | $ 46,822 | $ 15,590 | $ 3,683 | 762 | 2,776 | 145 | $ 2,443 | 1,310 | 1,133 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (attributable to parent) | 938 | 339 | 339 | 283 | 204 | 204 | 120 | 120 | $ 65 | 65 | 99 | 99 | 178 | 178 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Income | 890 | 283 | 283 | 283 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 851 | 899 | 899 | (48) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (77) | [4] | (63) | (65) | 1 | 1 | (14) | 2 | 2 | 1 | $ 1 | 1 | $ 1 | |||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances | $ 50 | $ 50 | $ 50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issuances, in shares | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends | (695) | (695) | (695) | (300) | (300) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contribution from noncontrolling interest in subsidiaries | 103 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interest in subsidiaries | (7) | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | (93) | [5] | (92) | [5] | (1) | [5] | (91) | [5] | (1) | [5] | (13) | [6] | (13) | [6] | 0 | [6] | (1) | (1) | (1) | $ (1) | (1) | |||||||||||||||||||||||||||||||||||||||
Ending Balance at Mar. 31, 2020 | $ 48,083 | $ 1,962 | $ 46,921 | $ 1 | $ 40,930 | $ 4,221 | $ (116) | $ 4 | $ (81) | $ 1,162 | $ 15,877 | $ 15,874 | $ 9,143 | $ 6,747 | $ (9) | $ (7) | $ 3 | |||||||||||||||||||||||||||||||||||||||||||
Ending Balance, in shares at Mar. 31, 2020 | 40,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, in shares at Mar. 31, 2020 | 735,000,000 | 735,000,000 | 100 | 90,000,000 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (member's equity) at Mar. 31, 2020 | $ 12,837 | $ 12,844 | $ (7) | $ 9,450 | $ 9,450 | $ 6,909 | $ 6,909 | $ 4,674 | $ 4,674 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance (parent) at Mar. 31, 2020 | $ 46,921 | $ 15,874 | $ 3,748 | $ 762 | $ 2,776 | $ 210 | $ 2,620 | $ 1,310 | $ 1,310 | |||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Duke Energy issued 40 million depositary shares of preferred stock, Series A. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Amounts in Retained Earnings and Accumulated Other Comprehensive (Loss) Income primarily represent impacts to accumulated other comprehensive income due to implementation of a new accounting standard related to Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Amounts in Retained Earnings and Accumulated Other Comprehensive Loss primarily represent impacts to accumulated other comprehensive income due to implementation of a new accounting standard related to Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Net of income tax impact of approximately $23 million in the first quarter of 2020 and immaterial income tax impact in the first quarter of 2019. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Amounts in Retained earnings primarily represent impacts due to implementation of a new accounting standard related to Current Estimated Credit Losses. See Note 1 for additional discussion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Amounts primarily represent impacts due to implementation of a new accounting standard related to Current Estimated Credit Losses. See Note 1 for additional discussion. |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Changes in Equity (Parenthetical) | 3 Months Ended |
Mar. 31, 2019shares | |
Preferred stock, Series A | Preferred Stock | |
Stock issuances, in shares | 40,000,000 |
Organization and Basis of Prese
Organization and Basis of Presentation | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Basis of Presentation | Index to Combined Notes to Condensed Consolidated Financial Statements The unaudited notes to the Condensed Consolidated Financial Statements that follow are a combined presentation. The following list indicates the registrants to which the footnotes apply. Applicable Notes Registrant 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Duke Energy • • • • • • • • • • • • • • • Duke Energy Carolinas • • • • • • • • • • • • • • Progress Energy • • • • • • • • • • • • • • • Duke Energy Progress • • • • • • • • • • • • • • Duke Energy Florida • • • • • • • • • • • • • • Duke Energy Ohio • • • • • • • • • • • • • • Duke Energy Indiana • • • • • • • • • • • • • • Piedmont • • • • • • • • • • • • • Tables within the notes may not sum across due to (i) Progress Energy's consolidation of Duke Energy Progress, Duke Energy Florida and other subsidiaries that are not registrants and (ii) subsidiaries that are not registrants but included in the consolidated Duke Energy balances. BASIS OF PRESENTATION These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these Condensed Consolidated Financial Statements do not include all information and notes required by GAAP for annual financial statements and should be read in conjunction with the Consolidated Financial Statements in the Duke Energy Registrants’ combined Annual Report on Form 10-K for the year ended December 31, 2019 . The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Condensed Consolidated Financial Statements. However, none of the registrants make any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself. These Condensed Consolidated Financial Statements, in the opinion of the respective companies’ management, reflect all normal recurring adjustments necessary to fairly present the financial position and results of operations of each of the Duke Energy Registrants. Amounts reported in Duke Energy’s interim Condensed Consolidated Statements of Operations and each of the Subsidiary Registrants’ interim Condensed Consolidated Statements of Operations and Comprehensive Income are not necessarily indicative of amounts expected for the respective annual periods due to effects of seasonal temperature variations on energy consumption, regulatory rulings, timing of maintenance on electric generating units, changes in mark-to-market valuations, changing commodity prices and other factors. In preparing financial statements that conform to GAAP, management 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. BASIS OF CONSOLIDATION These Condensed Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 11 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. COVID-19 The COVID-19 pandemic is having a significant impact on global health and economic environments. In March 2020, the World Health Organization (WHO) declared COVID-19 a global pandemic, and President Trump proclaimed that the COVID-19 outbreak in the United States constitutes a national emergency. The COVID-19 pandemic has not had a material financial impact on the Duke Energy Registrants as of March 31, 2020; however, the extent to which the COVID-19 pandemic will impact the Duke Energy Registrants during 2020 and beyond is uncertain at this time. The Duke Energy Registrants are monitoring developments closely. See Notes 3 , 5 , 11 , 12 and 15 for information on COVID-19 and steps taken to mitigate the impacts to our business and customers. NONCONTROLLING INTEREST Duke Energy maintains a controlling financial interest in certain less than wholly owned nonregulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Condensed Consolidated Balance Sheet. Several operating agreements of Duke Energy's subsidiaries with noncontrolling interest are subject to allocations of earnings, tax attributes and cash flows in accordance with contractual agreements that vary throughout the lives of the subsidiaries. Therefore, Duke Energy and the other investors' (the owners) interests in the subsidiaries are not fixed, and the subsidiaries apply the Hypothetical Liquidation at Book Value (HLBV) method in allocating income or loss and other comprehensive income or loss (all measured on a pretax basis) to the owners. The HLBV method measures the amounts that each owner would hypothetically claim at each balance sheet reporting date, including tax benefits realized by the owners, upon a hypothetical liquidation of the subsidiary at the net book value of its underlying assets. The change in the amount that each owner would hypothetically receive at the reporting date compared to the amount it would have received on the previous reporting date represents the amount of income or loss allocated to each owner for the reporting period. Duke Energy has received $103 million for the sale of noncontrolling interests to tax equity members for the three months ended March 31, 2020 . Duke Energy allocated approximately $49 million and $7 million of losses to noncontrolling tax equity members utilizing the HLBV method for the three months ended March 31, 2020 , and March 31, 2019 , respectively. Other operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares . CASH, CASH EQUIVALENTS AND RESTRICTED CASH Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Note 11 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 Duke Duke Duke Progress Energy Duke Progress Energy Energy Energy Florida Energy Energy Florida Current Assets Cash and cash equivalents $ 1,450 $ 52 $ 12 $ 311 $ 48 $ 17 Other 185 13 13 222 39 39 Other Noncurrent Assets Other 63 60 — 40 39 — Total cash, cash equivalents and restricted cash $ 1,698 $ 125 $ 25 $ 573 $ 126 $ 56 INVENTORY Provisions for inventory write-offs were not material at March 31, 2020 , and December 31, 2019 . The components of inventory are presented in the tables below. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,280 $ 759 $ 1,018 $ 678 $ 340 $ 83 $ 319 $ 5 Coal 742 268 246 167 79 10 218 — Natural gas, oil and other fuel 302 40 199 111 89 28 1 34 Total inventory $ 3,324 $ 1,067 $ 1,463 $ 956 $ 508 $ 121 $ 538 $ 39 December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,297 $ 768 $ 1,038 $ 686 $ 351 $ 79 $ 318 $ 5 Coal 586 187 186 138 48 15 198 — Natural gas, oil and other fuel 349 41 199 110 90 41 1 67 Total inventory $ 3,232 $ 996 $ 1,423 $ 934 $ 489 $ 135 $ 517 $ 72 NEW ACCOUNTING STANDARDS The following new accounting standard was adopted by the Duke Energy Registrants in 2020 . Current Expected Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. Duke Energy adopted the new accounting guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year results. Duke Energy did not adopt any practical expedients. Duke Energy recognizes allowances for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Management monitors credit quality, changes in expected credit losses and the appropriateness of the allowance for credit losses on a forward-looking basis. Management reviews the risk of loss periodically as part of the existing assessment of collectability of receivables. Duke Energy reviews the credit quality of its counterparties as part of its regular risk management process and requires credit enhancements, such as deposits or letters of credit, as appropriate and as allowed by regulators. Duke Energy recorded cumulative effects of changes in accounting principles related to the adoption of new credit loss standard, for allowances for credit losses of trade and other receivables, insurance receivables and financial guarantees. These amounts are included in the Condensed Consolidated Balance Sheets in Receivables, Receivables of VIEs, Other Noncurrent Assets and Other Noncurrent Liabilities. See Notes 4 and 12 for more information. Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below: January 1, 2020 Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Piedmont Total pretax impact to Retained Earnings $ 120 $ 16 $ 2 $ 1 $ 1 $ 1 The following new accounting standard has been issued but not yet adopted by the Duke Energy Registrants as of March 31, 2020 . Reference Rate Reform. In March 2020, the FASB issued new accounting guidance for reference rate reform. This guidance is elective and provides expedients to facilitate financial reporting for the anticipated transition away from the London Inter-bank Offered Rate (LIBOR) and other interbank reference rates by the end of 2021. The optional expedients are effective for modification of existing contracts or new arrangements executed between March 12, 2020, through December 31, 2022. Duke Energy has variable-rate debt and manages interest rate risk by entering into financial contracts including interest rate swaps that are generally indexed to LIBOR. Impacted financial arrangements extending beyond 2021 may require contractual amendment or termination to fully adapt to a post-LIBOR environment. Duke Energy is assessing these financial arrangements and is evaluating the use of optional expedients outlined in the new accounting guidance. Alternative index provisions are also being assessed and incorporated into new financial arrangements that extend beyond 2021. |
Business Segments
Business Segments | 3 Months Ended |
Mar. 31, 2020 | |
Segment Reporting [Abstract] | |
Business Segments | BUSINESS SEGMENTS Duke Energy Duke Energy's segment structure includes the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The Electric Utilities and Infrastructure segment primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The Gas Utilities and Infrastructure segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky, and Duke Energy's natural gas storage and midstream pipeline investments. The Commercial Renewables segment is primarily comprised of nonregulated utility-scale wind and solar generation assets located throughout the U.S. The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's interest in National Methanol Company. Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets. Three Months Ended March 31, 2020 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 5,174 $ 640 $ 129 $ 5,943 $ 6 $ — $ 5,949 Intersegment revenues 9 24 — 33 17 (50 ) — Total revenues $ 5,183 $ 664 $ 129 $ 5,976 $ 23 $ (50 ) $ 5,949 Segment income (loss) (a) $ 705 $ 249 $ 57 $ 1,011 $ (112 ) $ — $ 899 Add: Noncontrolling interests (b) (48 ) Add: Preferred stock dividend 39 Net income $ 890 Segment assets $ 134,838 $ 14,098 $ 6,184 $ 155,120 $ 4,964 $ (12 ) $ 160,072 Three Months Ended March 31, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 5,321 $ 732 $ 106 $ 6,159 $ 4 $ — $ 6,163 Intersegment revenues 8 24 — 32 17 (49 ) — Total revenues $ 5,329 $ 756 $ 106 $ 6,191 $ 21 $ (49 ) $ 6,163 Segment income (loss) $ 750 $ 226 $ 13 $ 989 $ (89 ) $ — $ 900 Add: Noncontrolling interests (b) (7 ) Net income $ 893 (a) Other includes a $98 million reversal, included in Operations, maintenance and other on the Condensed Consolidated Statements of Operations, of 2018 severance costs due to the partial settlement of the Duke Energy Carolina's 2019 North Carolina rate case. See Note 3 for additional information. (b) Includes the allocation of losses to noncontrolling tax equity members. See Note 1 for additional information. Duke Energy Ohio Duke Energy Ohio has two reportable segments, Electric Utilities and Infrastructure and Gas Utilities and Infrastructure. The remainder of Duke Energy Ohio's operations is presented as Other. Three Months Ended March 31, 2020 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 346 $ 152 $ 498 $ — $ — $ 498 Segment income/Net (loss) income $ 30 $ 36 $ 66 $ (1 ) $ — $ 65 Segment assets $ 6,238 $ 3,135 $ 9,373 $ 26 $ (2 ) $ 9,397 Three Months Ended March 31, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 355 $ 176 $ 531 $ — $ 531 Segment income/Net (loss) income $ 36 $ 35 $ 71 $ (2 ) $ 69 |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2020 | |
Regulated Operations [Abstract] | |
Regulatory Matters | REGULATORY MATTERS RATE-RELATED INFORMATION The NCUC, PSCSC, FPSC, IURC, PUCO, TPUC and KPSC approve rates for retail electric and natural gas services within their states. The FERC approves rates for electric sales to wholesale customers served under cost-based rates (excluding Ohio and Indiana), as well as sales of transmission service. The FERC also regulates certification and siting of new interstate natural gas pipeline projects. Duke Energy Carolinas and Duke Energy Progress COVID-19 Filings North Carolina On March 10, 2020, Governor Roy Cooper issued Executive Order No. 116 declaring a state of emergency due to the COVID-19 pandemic. In an effort to help mitigate the financial impacts of the COVID-19 pandemic on their customers, on March 19, 2020, Duke Energy Carolinas and Duke Energy Progress filed a request with the NCUC seeking authorization to waive: (1) any late payment charges incurred by a residential or nonresidential customer, effective March 21, 2020; (2) the application of fees for checks returned for insufficient funds for residential and nonresidential customers; (3) the reconnection charge when a residential or nonresidential customer seeks to have service restored for those customers whose service was recently disconnected for nonpayment and to work with customers regarding the other requirements to restore service, including re-establishment of credit; and (4) the fees and charges associated with the use of credit cards or debit cards to pay residential electric utility bills, effective March 21, 2020. The NCUC granted the companies’ request on March 20, 2020. On March 31, 2020, the governor issued Executive Order No. 124, which, in addition to requiring the steps in the NCUC order noted above, stated that nothing in Executive Order No. 124 shall relieve a customer of its obligation to pay bills for receipt of utility services provided. Executive Order No. 124 remains in effect for 60 days unless otherwise rescinded or replaced with a superseding Executive Order. On March 31, 2020, the Carolina Utility Customers Association (CUCA) filed a petition with the NCUC to temporarily suspend minimum demand charges for commercial and industrial customers. On April 2, 2020, the NCUC issued an order requiring the North Carolina Public Staff (Public Staff) and Duke Energy Carolinas, Duke Energy Progress and other utilities to file responses. On April 9, 2020, Duke Energy Carolinas and Duke Energy Progress filed responses to CUCA’s petition opposing CUCA’s request. The companies assert that voiding commission-approved tariffs and allowing all commercial and industrial customers on the requested rate schedules to avoid paying a portion of their bills is not legally permissible and would result in these costs unfairly being shifted to other customers that are already paying their respective fair share of similar fixed components. Pursuant to the NCUC’s April 2 order, reply comments were filed by CUCA, the Public Staff and Duke Energy Carolinas and Duke Energy Progress on April 15, 2020. A final order from the NCUC deciding CUCA's request is pending. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter. South Carolina On March 13, 2020, Governor Henry McMaster issued Executive Order No. 2020-08 declaring a state of emergency due to the COVID-19 pandemic. The governor also issued a letter on March 14, 2020, to the ORS Executive Director regarding the suspension of disconnection of essential utility services for nonpayment. On March 16, 2020, citing the governor’s letter, the ORS filed a request asking the PSCSC to grant waivers so that utilities could suspend disconnections of utility services for nonpayment. Duke Energy Carolinas and Duke Energy Progress supported such motion. On March 18, 2020, the PSCSC issued an order approving such waivers, and also approved waivers for regulations related to late fees and reconnect fees. The PSCSC's order also required utilities to track the financial impacts of actions taken pursuant to such waivers for possible reporting to the PSCSC. On April 30, 2020, the ORS requested the PSCSC grant a waiver of the applicable regulations to allow customers the flexibility to obtain deferred payment plans longer than 6 months for past-due amounts. On May 5, 2020, Duke Energy Carolinas and Duke Energy Progress filed responsive comments stating that while utility bills will remain due, Duke Energy Carolinas and Duke Energy Progress do not plan to immediately reinstitute disconnection upon the expiration of the state of emergency and intend to work through a potential grace period as economic recovery begins. Duke Energy Carolinas and Duke Energy Progress also concurred with the observation of the ORS that reduced usage is impacting the fixed cost recovery and revenue assumptions included in rates. Those costs include not only ongoing operational and financing costs necessary to serve customers, but also the borrowings necessary to support extended payment arrangements that will be an important part of emerging from the COVID-19 pandemic. Duke Energy Carolinas and Duke Energy Progress will continue to track such costs, lost revenues and potential cost savings for future evaluation by the PSCSC. Additionally, on May 8, 2020, the ORS filed a motion for the PSCSC to solicit comments from utilities and interested stakeholders regarding measures to be taken to mitigate impacts of COVID-19 on utility customers and require recordkeeping. In a detailed motion, the ORS specifically asked the PSCSC to: (1) solicit input from utilities regarding the temporary mitigation measures to address COVID-19; (2) request utilities to inform the PSCSC of the plans utilities have to return to normalized operations; (3) require utilities to track revenue impacts, incremental costs and savings related to COVID-19 and file the findings with the PSCSC on a quarterly basis; and (4) include any other matters that the PSCSC believes should be addressed. The ORS requests that such comments be filed within 30 days of a PSCSC order approving the motion. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter. Duke Energy Carolinas 2017 North Carolina Rate Case On August 25, 2017, Duke Energy Carolinas filed an application with the NCUC for a rate increase for retail customers of approximately $647 million , which represented an approximate 13.6% increase in annual base revenues. The request for rate increase was driven by capital investments subsequent to the previous base rate case, including the William States Lee Combined Cycle Facility, grid improvement projects, AMI, investments in customer service technologies, costs of complying with CCR regulations and the Coal Ash Act and recovery of costs related to licensing and development of the William States Lee III Nuclear Station. On February 28, 2018, Duke Energy Carolinas and the Public Staff filed an Agreement and Stipulation of Partial Settlement resolving certain portions of the proceeding. Terms of the settlement included a return on equity of 9.9% and a capital structure of 52% equity and 48% debt. On June 22, 2018, the NCUC issued an order approving the Stipulation of Partial Settlement and requiring a revenue reduction. On July 20, 2018, the North Carolina Attorney General filed a Notice of Appeal to the North Carolina Supreme Court from the June 22, 2018, Order Accepting Stipulation, Deciding Contested Issues and Requiring Revenue Reduction issued by the NCUC. The Attorney General contends the commission’s order should be reversed and remanded, as it is in excess of the commission’s statutory authority; affected by errors of law; unsupported by competent, material and substantial evidence in view of the entire record as submitted; and arbitrary or capricious. The Sierra Club, North Carolina Sustainable Energy Association, North Carolina Justice Center, North Carolina Housing Coalition, Natural Resource Defense Council and Southern Alliance for Clean Energy also filed Notices of Appeal to the North Carolina Supreme Court. On August 8, 2018, the Public Staff filed a Notice of Cross Appeal to the North Carolina Supreme Court, which contends the commission’s June 22, 2018, order should be reversed and remanded, as it is affected by errors of law, and is unsupported by substantial evidence with regard to the commission’s failure to consider substantial evidence of coal ash related environmental violations. On November 29, 2018, the North Carolina Attorney General's Office filed a motion with the North Carolina Supreme Court requesting the court consolidate the Duke Energy Carolinas and Duke Energy Progress appeals and enter an order adopting the parties’ proposed briefing schedule as set out in the filing. On November 29, 2018, the North Carolina Supreme Court adopted a schedule for briefing set forth in the motion to consolidate the Duke Energy Carolinas and Duke Energy Progress appeals. Appellant briefs were filed on April 26, 2019. The Appellee response briefs were filed on September 25, 2019. Oral arguments before the North Carolina Supreme Court were held on March 11, 2020. Duke Energy Carolinas cannot predict the outcome of this matter. 2019 North Carolina Rate Case On September 30, 2019, Duke Energy Carolinas filed an application with the NCUC for a net rate increase for retail customers of approximately $291 million , which represented an approximate 6% increase in annual base revenues. The gross rate case revenue increase request was $445 million , which was offset by an EDIT rider of $154 million to return to customers North Carolina and federal EDIT resulting from recent reductions in corporate tax rates. The request for rate increase was driven by major capital investments subsequent to the previous base rate case, coal ash pond closure costs, accelerated coal plant depreciation and deferred 2018 storm costs. Duke Energy Carolinas requested rates be effective no later than August 1, 2020. The NCUC established a procedural schedule with an evidentiary hearing to begin on March 23, 2020. On March 16, 2020, in consideration of public health and safety as a result of the COVID-19 pandemic, Duke Energy Carolinas filed a motion with the NCUC seeking a suspension of the procedural schedule in the rate case, including issuing discovery requests, and postponement of the evidentiary hearing for 60 days. Also on March 16, 2020, the NCUC issued an Order Postponing Hearing and Addressing Procedural Matters, which postponed the evidentiary hearing until further order by the commission. On March 25, 2020, Duke Energy Carolinas and the Public Staff filed an Agreement and Stipulation of Partial Settlement, which is subject to review and approval of the NCUC, resolving certain issues in the base rate proceeding. Major components of the settlement included: • Removal of deferred storm costs from the rate case; • Filing a petition seeking to securitize the deferred storm costs within 120 days of a commission order in this rate case regarding the reasonableness and prudency of the storm costs; • Agreement of certain assumptions to demonstrate the quantifiable benefits to customers of a securitization financing; and • Agreement on certain accounting matters, including recovery of employee incentives, severance, aviation costs and executive compensation. On May 6, 2020, Duke Energy Carolinas, Duke Energy Progress and the Public Staff filed a joint motion requesting that the NCUC issue an order scheduling one consolidated evidentiary hearing to consider the companies’ applications for net rate increases. The joint motion suggests, health and safety permitting, that the commission consider the possibility of holding the consolidated hearing in July. If the NCUC grants the joint motion, Duke Energy Carolinas expects the NCUC to issue an order on its net rate increase by the end of the year. Duke Energy Carolinas cannot predict the outcome of this matter. 2018 South Carolina Rate Case On November 8, 2018, Duke Energy Carolinas filed an application with the PSCSC for a rate increase for retail customers of approximately $168 million , which represented an approximate 10% increase in retail revenues. The request for rate increase was driven by capital investments and environmental compliance progress made by Duke Energy Carolinas since its previous rate case, including the further implementation of Duke Energy Carolinas’ generation modernization program, which consists of retiring, replacing and upgrading generation plants, investments in customer service technologies and continued investments in base work to maintain its transmission and distribution systems. The request included net tax benefits resulting from the Tax Act of $66 million to reflect the change in ongoing tax expense, primarily from the reduction in the federal income tax rate from 35% to 21%. The request also included $46 million to return EDIT resulting from the federal tax rate change and deferred revenues since January 2018 related to the change and benefits of $17 million from a reduction in North Carolina state income taxes allocable to South Carolina (EDIT Rider). Duke Energy Carolinas also requested approval of its proposed Grid Improvement Plan (GIP), adjustments to its Prepaid Advantage Program and a variety of accounting orders related to ongoing costs for environmental compliance, including recovery over a five -year period of $242 million of deferred coal ash related compliance costs, grid investments between rate changes, incremental depreciation expense, a result of new depreciation rates from the depreciation study approved in the 2017 North Carolina Rate Case above, and the balance of development costs associated with the cancellation of the Lee Nuclear Project. Finally, Duke Energy Carolinas sought approval to establish a reserve and accrual for end-of-life nuclear costs for nuclear fuel and materials and supplies. On March 8, 2019, the ORS moved to establish a new and separate hearing docket to review and consider the GIP proposed by Duke Energy Carolinas. Subsequently, on March 12, 2019, the ORS and Duke Energy Carolinas executed a Stipulation resolving the ORS’s motion. The Stipulation provided that costs incurred for the GIP after January 1, 2019, would be deferred with a return, subject to evaluation in a future rate proceeding. The Stipulation was approved by the PSCSC on June 19, 2019. On December 16, 2019, Duke Energy Carolinas and Duke Energy Progress filed a Joint Petition to Establish an Informational Docket for Review and Consideration of Grid Improvement Plans through which Duke Energy Carolinas and Duke Energy Progress would provide interested stakeholders information on the companies' grid activities. The PSCSC requested parties comment on procedural matters by January 31, 2020; accordingly, various groups filed comments, none of which opposed an informational docket. Duke Energy Carolinas cannot predict the outcome of this matter. After hearings in March 2019, the PSCSC issued an order on May 21, 2019, which included a return on equity of 9.5% and a capital structure of 53% equity and 47% debt. The order also included the following material components: • Approval of cancellation of the Lee Nuclear Project, with Duke Energy Carolinas maintaining the Combined Operating License; • Approval of recovery of $125 million (South Carolina retail portion) of Lee Nuclear Project development costs (including AFUDC through December 2017) over a 12 -year period, but denial of a return on the deferred balance of costs; • Approval of recovery of $96 million of coal ash costs over a five-year period with a return at Duke Energy Carolinas' WACC; • Denial of recovery of $115 million of certain coal ash costs deemed to be related to the Coal Ash Act and incremental to the federal CCR rule; • Approval of a $66 million decrease to base rates to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%; • Approval of a $45 million decrease through the EDIT Rider to return EDIT resulting from the federal tax rate change and deferred revenues since January 2018 related to the change, to be returned in accordance with the Average Rate Assumption Method (ARAM) for protected EDIT, over a 20-year period for unprotected EDIT associated with Property, Plant and Equipment, over a five-year period for unprotected EDIT not associated with Property, Plant and Equipment and over a five-year period for the deferred revenues; and • Approval of a $17 million decrease through the EDIT Rider related to reductions in the North Carolina state income tax rate from 6.9% to 2.5% to be returned over a five-year period. As a result of the order, revised customer rates were effective June 1, 2019. On May 31, 2019, Duke Energy Carolinas filed a Petition for Rehearing or Reconsideration of that order contending substantial rights of Duke Energy Carolinas were prejudiced by unlawful, arbitrary and capricious rulings by the commission on certain issues presented in the proceeding. On June 19, 2019, the PSCSC issued a Directive denying Duke Energy Carolinas' request to rehear or reconsider the commission's rulings on certain issues presented in the proceeding including coal ash remediation and disposal costs, return on equity and the recovery of a return on deferred operation and maintenance expenses. An order detailing the commission's decision in the Directive was issued on October 18, 2019. Duke Energy Carolinas filed a notice of appeal on November 15, 2019, with the Supreme Court of South Carolina. On November 20, 2019, the South Carolina Energy Users Committee filed a Notice of Appeal and the ORS filed a Notice of Cross Appeal with the Supreme Court of South Carolina. On February 12, 2020, Duke Energy Carolinas and the ORS filed a joint motion to extend briefing schedule deadlines, which was approved by the Supreme Court of South Carolina on February 20, 2020. On March 10, 2020, the ORS filed a consent motion requesting withdrawal of their appeal. Initial briefs were filed on April 21, 2020. Response briefs and reply briefs are due July 6, 2020, and August 11, 2020, respectively. Also on April 21, 2020, the South Carolina Energy User's Committee filed a brief arguing that the PSCSC erred in allowing Duke Energy Carolinas' recovery of costs related to the Lee Nuclear Station. Based on legal analysis and the filing of the appeal, Duke Energy Carolinas has not recorded an adjustment for its deferred coal ash costs. Duke Energy Carolinas cannot predict the outcome of this matter. Duke Energy Progress 2017 North Carolina Rate Case On June 1, 2017, Duke Energy Progress filed an application with the NCUC for a rate increase for retail customers of approximately $477 million , which represented an approximate 14.9% increase in annual base revenues. Subsequent to the filing, Duke Energy Progress adjusted the requested amount to $420 million , representing an approximate 13% increase. The request for rate increase was driven by capital investments subsequent to the previous base rate case, costs of complying with CCR regulations and the Coal Ash Act, costs relating to storm recovery, investments in customer service technologies and recovery of costs associated with renewable purchased power. On November 22, 2017, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement resolving certain portions of the proceeding. Terms of the settlement included a return on equity of 9.9% and a capital structure of 52% equity and 48% debt. On February 23, 2018, the NCUC issued an order approving the stipulation. On May 15, 2018, the Public Staff filed a Notice of Cross Appeal to the North Carolina Supreme Court from the NCUC's February 23, 2018, order. The Public Staff contends the NCUC’s order should be reversed and remanded, as it is affected by errors of law, and is unsupported by competent, material and substantial evidence in view of the entire record as submitted. The North Carolina Attorney General and Sierra Club also filed Notices of Appeal to the North Carolina Supreme Court from the February 23, 2018, order. On November 29, 2018, the North Carolina Attorney General's Office filed a motion with the North Carolina Supreme Court requesting the court consolidate the Duke Energy Progress and Duke Energy Carolinas appeals and enter an order adopting the parties’ proposed briefing schedule as set out in the filing. Appellant briefs were filed on April 26, 2019. The Appellee response briefs were filed on September 25, 2019. Oral arguments before the North Carolina Supreme Court were held on March 11, 2020. Duke Energy Progress cannot predict the outcome of this matter. 2019 North Carolina Rate Case On October 30, 2019, Duke Energy Progress filed an application with the NCUC for a net rate increase for retail customers of approximately $464 million , which represented an approximate 12.3% increase in annual base revenues. The gross rate case revenue increase request was $586 million , which was offset by riders of $122 million , primarily an EDIT rider of $120 million to return to customers North Carolina and federal EDIT resulting from recent reductions in corporate tax rates. The request for rate increase was driven by major capital investments subsequent to the previous base rate case, coal ash pond closure costs, accelerated coal plant depreciation and deferred 2018 storm costs. Duke Energy Progress seeks to defer and recover incremental Hurricane Dorian storm costs in this proceeding and requests rates be effective no later than September 1, 2020. As a result of the COVID-19 pandemic, on March 24, 2020, the NCUC suspended the procedural schedule and postponed the previously scheduled evidentiary hearing on this matter indefinitely. On April 7, 2020, the NCUC issued an order partially resuming the procedural schedule requiring intervenors to file direct testimony on April 13, 2020. Public Staff filed supplemental direct testimony on April 23, 2020. Duke Energy Progress filed rebuttal testimony on May 4, 2020. On May 6, 2020, Duke Energy Progress, Duke Energy Carolinas and the Public Staff filed a joint motion requesting that the NCUC issue an order scheduling one consolidated evidentiary hearing to consider the companies’ applications for net rate increases. The joint motion suggests, health and safety permitting, that the commission consider the possibility of holding the consolidated hearing in July. If the NCUC grants the joint motion, Duke Energy Progress expects the NCUC to issue an order on its net rate increase by the end of the year. Duke Energy Progress cannot predict the outcome of this matter. Hurricane Dorian Hurricane Dorian reached the Carolinas in September 2019 as a Category 2 hurricane making landfall within Duke Energy Progress’ service territory. Approximately 270,000 North Carolina customers and 30,000 South Carolina customers were impacted by the slow-moving storm that brought high winds, tornadoes and heavy rain. With storm-response mobilization occurring in preparation for the storm and the assistance of mutual aid partners, full restoration was accomplished within four days for all customers able to receive service. Total estimated incremental operation and maintenance expenses incurred to repair and restore the system are approximately $177 million with an additional $4 million in capital investments made for restoration efforts. Approximately $151 million and $179 million of the operation and maintenance expenses are deferred in Regulatory assets within Other Noncurrent Assets on the Condensed Consolidated Balance Sheets as of March 31, 2020, and December 31, 2019, respectively. A request for an accounting order to defer incremental storm costs associated with Hurricane Dorian was included in Duke Energy Progress' October 30, 2019, general rate case filing with the NCUC. Duke Energy Progress cannot predict the outcome of this matter. On February 7, 2020, a petition was filed with the PSCSC in the 2019 storm deferrals docket requesting deferral of approximately $22 million in operation and maintenance expenses to an existing storm deferral balance previously approved by the PSCSC. The PSCSC voted to approve the request on March 4, 2020, and issued a final order on April 7, 2020. 2018 South Carolina Rate Case On November 8, 2018, Duke Energy Progress filed an application with the PSCSC for a rate increase for retail customers of approximately $59 million , which represented an approximate 10.3% increase in annual base revenues. The request for rate increase was driven by capital investments and environmental compliance progress made by Duke Energy Progress since its previous rate case, including the further implementation of Duke Energy Progress’ generation modernization program, which consists of retiring, replacing and upgrading generation plants, investments in customer service technologies and continued investments in base work to maintain its transmission and distribution systems. The request included a decrease resulting from the Tax Act of $17 million to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%. The request also included $10 million to return EDIT resulting from the federal tax rate change and deferred revenues since January 2018 related to the change (EDIT Rider) and a $12 million increase due to the expiration of EDITs related to reductions in North Carolina state income taxes allocable to South Carolina. Duke Energy Progress also requested approval of its proposed GIP, approval of a Prepaid Advantage Program and a variety of accounting orders related to ongoing costs for environmental compliance, including recovery over a five -year period of $51 million of deferred coal ash related compliance costs, AMI deployment, grid investments between rate changes and regulatory asset treatment related to the retirement of a generating plant located in Asheville, North Carolina. Finally, Duke Energy Progress sought approval to establish a reserve and accrual for end-of-life nuclear costs for materials and supplies and nuclear fuel. On March 8, 2019, the ORS moved to establish a new and separate hearing docket to review and consider the GIP proposed by Duke Energy Progress. Subsequently, on March 12, 2019, the ORS and Duke Energy Carolinas executed a Stipulation resolving the ORS’s motion, and Duke Energy Progress agreed to the Stipulation, as did other parties in the rate case. The Stipulation provided that costs incurred for the GIP after January 1, 2019, would be deferred with a return, with all costs subject to evaluation in a future rate proceeding, and that Duke Energy Progress would refile for consideration of the GIP in a new docket for resolution by January 1, 2020. The Stipulation was approved by the PSCSC on June 19, 2019. On December 16, 2019, Duke Energy Progress and Duke Energy Carolinas filed a Joint Petition to Establish an Informational Docket for Review and Consideration of Grid Improvement Plans through which Duke Energy Progress and Duke Energy Carolinas would provide interested stakeholders information on the companies' grid activities. The PSCSC requested parties comment on procedural matters by January 31, 2020; accordingly, various groups filed comments, none of which opposed an informational docket. Duke Energy Progress cannot predict the outcome of this matter. After hearings in April 2019, the PSCSC issued an order on May 21, 2019, which included a return on equity of 9.5% and a capital structure of 53% equity and 47% debt. The order also included the following material components: • Approval of recovery of $4 million of coal ash costs over a five-year period with a return at Duke Energy Progress' WACC; • Denial of recovery of $65 million of certain coal ash costs deemed to be related to the Coal Ash Act and incremental to the federal CCR rule; • Approval of a $17 million decrease to base rates to reflect the change in ongoing tax expense, primarily the reduction in the federal income tax rate from 35% to 21%; • Approval of a $12 million decrease through the EDIT Tax Savings Rider resulting from the federal tax rate change and deferred revenues since January 2018 related to the change, to be returned in accordance with ARAM for protected EDIT, over a 20-year period for unprotected EDIT associated with Property, Plant and Equipment, over a five-year period for unprotected EDIT not associated with Property, Plant and Equipment and over a three-year period for the deferred revenues; and • Approval of a $12 million increase due to the expiration of EDIT related to reductions in the North Carolina state income tax rate from 6.9% to 2.5%. As a result of the order, revised customer rates were effective June 1, 2019. On May 31, 2019, Duke Energy Progress filed a Petition for Rehearing or Reconsideration of that order contending substantial rights of Duke Energy Progress were prejudiced by unlawful, arbitrary and capricious rulings by the commission on certain issues presented in the proceeding. On June 19, 2019, the PSCSC issued a Directive denying Duke Energy Progress' request to rehear or reconsider the commission's rulings on certain issues presented in the proceeding including coal ash remediation and disposal costs, return on equity and the recovery of a return on deferred operation and maintenance expenses, but allowing additional litigation-related costs. As a result of the Directive allowing litigation-related costs, customer rates were revised effective July 1, 2019. An order detailing the commission's decision in the Directive was issued on October 18, 2019. Duke Energy Progress filed a notice of appeal on November 15, 2019, with the Supreme Court of South Carolina. The ORS filed a Notice of Cross Appeal on November 20, 2019. On February 12, 2020, Duke Energy Progress and the ORS filed a joint motion to extend briefing schedule deadlines, which was approved by the Supreme Court of South Carolina on February 20, 2020. On March 10, 2020, the ORS filed a consent motion requesting withdrawal of their appeal. Initial briefs were filed on April 21, 2020. Response briefs and reply briefs are due July 6, 2020, and August 11, 2020, respectively. Based on legal analysis and the filing of the appeal, Duke Energy Progress has not recorded an adjustment for its deferred coal ash costs. Duke Energy Progress cannot predict the outcome of this matter. Western Carolinas Modernization Plan On November 4, 2015, Duke Energy Progress announced a Western Carolinas Modernization Plan, which included retirement of the existing Asheville coal-fired plant, the construction of two 280‑MW combined-cycle natural gas plants having dual-fuel capability, with the option to build a third natural gas simple cycle unit in 2023 based upon the outcome of initiatives to reduce the region's power demand. The plan also included upgrades to existing transmission lines and substations, installation of solar generation and a pilot battery storage project. Duke Energy Progress retired the 376 -MW Asheville coal-fired plant on January 29, 2020, at which time the net book value, including associated ash basin closure costs, of $214 million was transferred from Generation facilities to be retired, net to Regulatory assets within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets. On March 28, 2016, the NCUC issued an order approving a Certificate of Public Convenience and Necessity (CPCN) for the new combined-cycle natural gas plants with an estimated cost of $893 million , but required Duke Energy Progress to refile for CPCN approval for the contingent simple cycle unit. On December 27, 2019, Asheville Combined Cycle Power Block 1 and the common systems that serve both combined cycle units went into commercial operation. Power Block 1 consists of the Unit 5 Combustion Turbine and Unit 6 Steam Turbine Generator (which together form the first combined cycle unit approved in the CPCN Order). Power Block 2 consists of the Unit 7 Combustion Turbine and Unit 8 Steam Turbine Generator (which together form the second combined cycle unit approved in the CPCN Order). Duke Energy Progress placed the Unit 7 Combustion Turbine portion of Power Block 2 into commercial operation in simple-cycle mode on January 15, 2020. The Unit 8 Steam Turbine Generator went into commercial operation on April 5, 2020. On October 8, 2018, Duke Energy Progress filed an application with the NCUC for a CPCN to construct the Hot Springs Microgrid Solar and Battery Storage Facility. On March 22, 2019, Duke Energy Progress |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES ENVIRONMENTAL The Duke Energy Registrants are subject to federal, state and local regulations regarding air and water quality, hazardous and solid waste disposal, coal ash 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 Duke Energy Registrants. Remediation Activities In addition to AROs recorded as a result of various environmental regulations, the Duke Energy Registrants are responsible for environmental remediation at various sites. These include certain properties that are part of ongoing operations and sites formerly owned or used by Duke Energy entities. These sites are in various stages of investigation, remediation and monitoring. Managed in conjunction with relevant federal, state and local agencies, remediation activities vary based upon site conditions and location, remediation requirements, complexity and sharing of responsibility. If remediation activities involve joint and several liability provisions, strict liability, or cost recovery or contribution actions, the Duke Energy Registrants could potentially be held responsible for environmental impacts caused by other potentially responsible parties and may also benefit from insurance policies or contractual indemnities that cover some or all cleanup costs. Liabilities are recorded when losses become probable and are reasonably estimable. The total costs that may be incurred cannot be estimated because the extent of environmental impact, allocation among potentially responsible parties, remediation alternatives and/or regulatory decisions have not yet been determined at all sites. Additional costs associated with remediation activities are likely to be incurred in the future and could be significant. Costs are typically expensed as Operation, maintenance and other on the Condensed 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 Accounts Payable within Current Liabilities and Other within Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets. Three Months Ended March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Balance at beginning of period $ 58 $ 11 $ 16 $ 4 $ 9 $ 19 $ 4 $ 8 Provisions/adjustments 3 — — 1 — 1 1 — Cash reductions (3 ) (1 ) (1 ) — — (1 ) — — Balance at end of period $ 58 $ 10 $ 15 $ 5 $ 9 $ 19 $ 5 $ 8 Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material except as presented in the table below. (in millions) Duke Energy $ 58 Duke Energy Carolinas 11 Duke Energy Ohio 41 Piedmont 2 LITIGATION Duke Energy Carolinas and Duke Energy Progress Coal Ash Insurance Coverage Litigation In March 2017, Duke Energy Carolinas and Duke Energy Progress filed a civil action in North Carolina Superior Court against various insurance providers. The lawsuit seeks payment for coal ash-related liabilities covered by third-party liability insurance policies. The insurance policies were issued between 1971 and 1986 and provide third-party liability insurance for property damage. The civil action seeks damages for breach of contract and indemnification for costs arising from the Coal Ash Act and the EPA CCR rule at 15 coal-fired plants in North Carolina and South Carolina. Despite a stay of the litigation from May 2019 through September 2019 to allow the parties to discuss potential resolution, no resolution was reached, and litigation resumed. In February and March 2020, the court heard arguments on numerous cross motions filed by the parties to seek legal determinations concerning several insurance related defenses raised by the insurance providers. Trial is scheduled for February 2021. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter. Duke Energy Carolinas Asbestos-related Injuries and Damages Claims Duke Energy Carolinas has experienced numerous claims for indemnification and medical cost reimbursement related to asbestos exposure. These claims relate to damages for bodily injuries alleged to have arisen from exposure to or use of asbestos in connection with construction and maintenance activities conducted on its electric generation plants prior to 1985. As of March 31, 2020 , there were 118 asserted claims for non-malignant cases with cumulative relief sought of up to $30 million , and 51 asserted claims for malignant cases with cumulative relief sought of up to $17 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 $596 million at March 31, 2020 , and $604 million at December 31, 2019 . These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Condensed Consolidated Balance Sheets. These reserves are based upon Duke Energy Carolinas' best estimate for current and future asbestos claims through 2039 and are recorded on an undiscounted basis. In light of the uncertainties inherent in a longer-term forecast, management does not believe they can reasonably estimate the indemnity and medical costs that might be incurred after 2039 related to such potential claims. It is possible Duke Energy Carolinas may incur asbestos liabilities in excess of the recorded reserves. Duke Energy Carolinas has third-party insurance to cover certain losses related to asbestos-related injuries and damages above an aggregate self-insured retention. Duke Energy Carolinas’ cumulative payments began to exceed the self-insured retention in 2008. Future payments up to the policy limit will be reimbursed by the third-party insurance carrier. The insurance policy limit for potential future insurance recoveries indemnification and medical cost claim payments is $747 million in excess of the self-insured retention. Receivables for insurance recoveries were $742 million at March 31, 2020 , and $742 million at December 31, 2019 . These amounts are classified in Other within Other Noncurrent Assets and Receivables within Current Assets on the Condensed Consolidated Balance Sheets. Duke Energy Carolinas is not aware of any uncertainties regarding the legal sufficiency of insurance claims. Duke Energy Carolinas believes the insurance recovery asset is probable of recovery as the insurance carrier continues to have a strong financial strength rating. Duke Energy Progress and Duke Energy Florida Spent Nuclear Fuel Matters On June 18, 2018, Duke Energy Progress and Duke Energy Florida sued the U.S. in the U.S. Court of Federal Claims for damages incurred for the period 2014 through 2018. The lawsuit claimed the Department of Energy breached a contract in failing to accept spent nuclear fuel under the Nuclear Waste Policy Act of 1982 and asserted damages for the cost of on-site storage in the amount of $100 million and $203 million for Duke Energy Progress and Duke Energy Florida, respectively. Discovery is ongoing and a trial is expected to occur in early 2021. Duke Energy Indiana Coal Ash Basin Closure Plan Appeal On January 27, 2020, Hoosier Environmental Council filed a Petition for Administrative Review with the Indiana Office of Environmental Adjudication (the court) challenging the Indiana Department of Environmental Management’s December 10, 2019, partial approval of Duke Energy Indiana’s ash pond closure plan. On March 11, 2020, Duke Energy Indiana filed a Motion to Dismiss. On May 5, 2020, the court entered an order denying that motion. The court will schedule a trial on the merits for a future date. 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, excluding asbestos-related reserves discussed above. Reserves are classified on the Condensed Consolidated Balance Sheets in Other within Other Noncurrent Liabilities and Other within Current Liabilities. The reasonably possible range of loss in excess of recorded reserves is not material, other than as described above. (in millions) March 31, 2020 December 31, 2019 Reserves for Legal Matters Duke Energy $ 61 $ 62 Duke Energy Carolinas 3 2 Progress Energy 52 55 Duke Energy Progress 9 12 Duke Energy Florida 23 22 Piedmont 1 1 OTHER COMMITMENTS AND CONTINGENCIES General As part of their normal business, the Duke Energy Registrants are party to various financial guarantees, performance guarantees and other contractual commitments to extend guarantees of credit and other assistance to various subsidiaries, investees and other third parties. These guarantees involve elements of performance and credit risk, which are not fully recognized on the Condensed Consolidated Balance Sheets and have uncapped 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. In addition, the Duke Energy Registrants enter into various fixed-price, noncancelable commitments to purchase or sell power or natural gas, take-or-pay arrangements, transportation, or throughput agreements and other contracts that may or may not be recognized on their respective Condensed Consolidated Balance Sheets. Some of these arrangements may be recognized at fair value on their respective Condensed Consolidated Balance Sheets if such contracts meet the definition of a derivative and the NPNS exception does not apply. In most cases, the Duke Energy Registrants’ purchase obligation contracts contain provisions for price adjustments, minimum purchase levels and other financial commitments. As described in Note 1, Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The reserve for credit losses for insurance receivables based on adoption of the new standard is $15 million for Duke Energy and Duke Energy Carolinas. Insurance receivables are evaluated based on the risk of default and the historical losses, current conditions and expected conditions around collectability. Management evaluates the risk of default annually based on payment history, credit rating and changes in the risk of default from credit agencies. The reserve for credit losses for financial guarantees based on adoption of the new standard is $99 million for Duke Energy. Management considers financial guarantees for evaluation under this standard based on the anticipated amount outstanding at the time of default. The reserve for credit losses is based on the evaluation of the contingent components of financial guarantees. Management evaluates the risk of default, exposure and length of time remaining in the period for each contract. |
Debt and Credit Facilities
Debt and Credit Facilities | 3 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Debt And Credit Facilities | DEBT AND CREDIT FACILITIES SUMMARY OF SIGNIFICANT DEBT ISSUANCES The following table summarizes significant debt issuances (in millions). Three Months Ended March 31, 2020 Duke Duke Duke Maturity Interest Duke Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Indiana Unsecured Debt March 2020 (a) March 2021 1.400 % (b) $ 1,688 $ 1,688 $ — $ — First Mortgage Bonds January 2020 (c) February 2030 2.450 % 500 — 500 — January 2020 (c) August 2049 3.200 % 400 — 400 — March 2020 (d) April 2050 2.750 % 550 — — 550 Total issuances $ 3,138 $ 1,688 $ 900 $ 550 (a) Debt issued in response to market volatility concerns related to the COVID-19 pandemic. Refer to Note 1 for additional information on the COVID-19 pandemic. Proceeds will be used to reduce outstanding commercial paper and for general corporate purposes. (b) Debt issuance has a floating interest rate. (c) Debt issued to repay at maturity $450 million first mortgage bonds due June 2020 and for general corporate purposes. (d) Debt issued to repay at maturity $500 million first mortgage bonds due July 2020 and to pay down short-term debt. CURRENT MATURITIES OF LONG-TERM DEBT The following table shows the significant components of Current Maturities of Long-Term Debt on the Condensed 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 March 31, 2020 Unsecured Debt Duke Energy (Parent) June 2020 2.100 % $ 330 Duke Energy Progress December 2020 2.292 % (a) 700 Progress Energy, Inc January 2021 4.400 % 500 Duke Energy (Parent) March 2021 1.400 % (a) 1,688 First Mortgage Bonds Duke Energy Florida April 2020 4.550 % 250 Duke Energy Carolinas June 2020 4.300 % 450 Duke Energy Indiana July 2020 3.750 % 500 Duke Energy Progress September 2020 1.076 % (a) 300 Other (b) 359 Current maturities of long-term debt $ 5,077 (a) Debt issuance has a floating interest rate. (b) Includes finance lease obligations, amortizing debt and small bullet maturities. AVAILABLE CREDIT FACILITIES Master Credit Facility In March 2020, Duke Energy amended its existing $8 billion Master Credit Facility to extend the termination date to March 2025 . The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. Duke Energy Carolinas and Duke Energy Progress are also required to each maintain $250 million of available capacity under the Master Credit Facility as security to meet obligations under plea agreements reached with the U.S. Department of Justice in 2015 related to violations at North Carolina facilities with ash basins. This requirement expires on May 15, 2020. The table below includes the current borrowing sublimits and available capacity under these credit facilities. March 31, 2020 Duke Duke Duke Duke Duke Duke Duke Energy Energy Energy Energy Energy Energy (in millions) Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Facility size (a) $ 8,000 $ 2,650 $ 1,500 $ 1,250 $ 800 $ 600 $ 600 $ 600 Reduction to backstop issuances Commercial paper (b) (2,540 ) (1,140 ) (300 ) (275 ) (167 ) (243 ) (150 ) (265 ) Outstanding letters of credit (49 ) (42 ) (4 ) (2 ) — — — (1 ) Tax-exempt bonds (81 ) — — — — — (81 ) — Coal ash set-aside (500 ) — (250 ) (250 ) — — — — Available capacity under the Master Credit Facility $ 4,830 $ 1,468 $ 946 $ 723 $ 633 $ 357 $ 369 $ 334 (a) Represents the sublimit of each borrower. (b) Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies on the Condensed Consolidated Balance Sheets. Other Credit Facilities March 31, 2020 (in millions) Facility size Amount drawn Duke Energy (Parent) Three-Year Revolving Credit Facility (a) $ 1,000 $ 1,000 Duke Energy Progress Term Loan Facility 700 700 (a) In March 2020, Duke Energy (Parent) drew down the remaining $500 million . |
Goodwill
Goodwill | 3 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | GOODWILL Duke Energy The following table presents the goodwill by reportable segment included on Duke Energy's Condensed Consolidated Balance Sheets at March 31, 2020 , and December 31, 2019 . Electric Utilities Gas Utilities Commercial (in millions) and Infrastructure and Infrastructure Renewables Total Goodwill balance $ 17,379 $ 1,924 $ 122 $ 19,425 Accumulated impairment charges — — (122 ) (122 ) Goodwill, adjusted for accumulated impairment charges $ 17,379 $ 1,924 $ — $ 19,303 Duke Energy Ohio Duke Energy Ohio's Goodwill balance of $920 million , allocated $596 million to Electric Utilities and Infrastructure and $324 million to Gas Utilities and Infrastructure, is presented net of accumulated impairment charges of $216 million on the Condensed Consolidated Balance Sheets at March 31, 2020 , and December 31, 2019 . Progress Energy Progress Energy's Goodwill is included in the Electric Utilities and Infrastructure segment and there are no accumulated impairment charges. Piedmont Piedmont's Goodwill is included in the Gas Utilities and Infrastructure segment and there are no accumulated impairment charges. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS The Subsidiary Registrants engage in related party transactions in accordance with applicable state and federal commission regulations. Refer to the Condensed 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 on the Condensed Consolidated Statements of Operations and Comprehensive Income are presented in the following table. Three Months Ended March 31, (in millions) 2020 2019 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 134 $ 212 Indemnification coverages (b) 5 5 Joint Dispatch Agreement (JDA) revenue (c) 7 23 JDA expense (c) 24 93 Intercompany natural gas purchases (d) 6 4 Progress Energy Corporate governance and shared service expenses (a) $ 146 $ 176 Indemnification coverages (b) 9 9 JDA revenue (c) 24 93 JDA expense (c) 7 23 Intercompany natural gas purchases (d) 19 19 Duke Energy Progress Corporate governance and shared service expenses (a) $ 75 $ 106 Indemnification coverages (b) 4 4 JDA revenue (c) 24 93 JDA expense (c) 7 23 Intercompany natural gas purchases (d) 19 19 Duke Energy Florida Corporate governance and shared service expenses (a) $ 71 $ 70 Indemnification coverages (b) 5 5 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 84 $ 85 Indemnification coverages (b) 1 1 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 106 $ 97 Indemnification coverages (b) 2 2 Piedmont Corporate governance and shared service expenses (a) $ 34 $ 32 Indemnification coverages (b) 1 1 Intercompany natural gas sales (d) 25 23 Natural gas storage and transportation costs (e) 6 5 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other on the Condensed 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 Condensed Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income. (d) Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Condensed Consolidated Statements of Operations and Comprehensive Income. (e) Piedmont has related party transactions as a customer of its equity method investments in Pine Needle LNG Company, LLC, Hardy Storage Company, LLC and Cardinal Pipeline Company, LLC natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Condensed Consolidated Statements of Operations and Comprehensive Income. In addition to the amounts presented above, the Subsidiary Registrants have other affiliate transactions, including rental of office space, participation in a money pool arrangement, other operational transactions, such as pipeline lease arrangements, and their proportionate share of certain charged expenses. These transactions of the Subsidiary Registrants are incurred in the ordinary course of business and are eliminated in consolidation. As discussed in Note 11 , certain trade receivables have been sold by Duke Energy Ohio and Duke Energy Indiana to CRC, an affiliate formed by a subsidiary of Duke Energy. The proceeds obtained from the sales of receivables are largely cash but do include a subordinated note from CRC for a portion of the purchase price. Intercompany Income Taxes Duke Energy and the Subsidiary Registrants file a consolidated federal income tax return and other state and jurisdictional returns. The Subsidiary Registrants have a tax sharing agreement with Duke Energy for the allocation of consolidated tax liabilities and benefits. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana Piedmont March 31, 2020 Intercompany income tax receivable $ — $ 114 $ 1 $ 4 $ — $ — $ — Intercompany income tax payable 44 — — — — 6 10 December 31, 2019 Intercompany income tax receivable $ — $ 125 $ 28 $ — $ 9 $ 28 $ 13 Intercompany income tax payable 5 — — 2 — — — |
Derivatives and Hedging
Derivatives and Hedging | 3 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging | DERIVATIVES AND HEDGING The Duke Energy Registrants use commodity and interest rate contracts to manage commodity price risk and interest rate risk. The primary use of commodity derivatives is to hedge the generation portfolio against changes in the prices of electricity and natural gas. Piedmont enters into natural gas supply contracts to provide diversification, reliability and natural gas cost benefits to its customers. Interest rate derivatives are used to manage interest rate risk associated with borrowings. All derivative instruments not identified as NPNS are recorded at fair value as assets or liabilities on the Condensed Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Condensed Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities on the Condensed Consolidated Statements of Cash Flows. INTEREST RATE RISK The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward-starting interest rate swaps or Treasury locks may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt. Cash Flow Hedges For a derivative designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. Gains and losses reclassified out of accumulated other comprehensive income (loss) for the three months ended March 31, 2020 , and 2019 , were not material. Duke Energy's interest rate derivatives designated as hedges include interest rate swaps used to hedge existing debt within the Commercial Renewables business and forward-starting interest rate swaps not accounted for under regulatory accounting. Undesignated Contracts Undesignated contracts primarily include contracts not designated as a hedge because they are accounted for under regulatory accounting or contracts that do not qualify for hedge accounting. Duke Energy’s interest rate swaps for its regulated operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense on the Duke Energy Registrant's Condensed Consolidated Statements of Operations and Comprehensive Income. The following table shows notional amounts of outstanding derivatives related to interest rate risk. March 31, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 991 $ — $ — $ — $ — $ — Undesignated contracts 2,027 400 1,600 1,050 550 27 Total notional amount (a) $ 3,018 $ 400 $ 1,600 $ 1,050 $ 550 $ 27 December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 993 $ — $ — $ — $ — $ — Undesignated contracts 1,277 450 800 250 550 27 Total notional amount (a) $ 2,270 $ 450 $ 800 $ 250 $ 550 $ 27 (a) Duke Energy includes amounts related to consolidated VIEs of $691 million in cash flow hedges as of March 31, 2020 , and $693 million in cash flow hedges as of December 31, 2019 . COMMODITY PRICE RISK The Duke Energy Registrants are exposed to the impact of changes in the prices of electricity purchased and sold in bulk power markets and coal and natural gas purchases, including Piedmont's natural gas supply contracts. Exposure to commodity price risk is influenced by a number of factors including the term of contracts, the liquidity of markets and delivery locations. For the Subsidiary Registrants, bulk power electricity and coal and natural gas purchases flow through fuel adjustment clauses, formula-based contracts or other cost-sharing mechanisms. Differences between the costs included in rates and the incurred costs, including undesignated derivative contracts, are largely deferred as regulatory assets or regulatory liabilities. Piedmont policies allow for the use of financial instruments to hedge commodity price risks. The strategy and objective of these hedging programs are to use the financial instruments to reduce natural gas costs volatility for customers. Volumes The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 6,737 — — — — 977 5,760 — Natural gas (millions of dekatherms) 709 145 158 158 — — 4 402 December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 15,858 — — — — 1,887 13,971 — Natural gas (millions of dekatherms) 704 130 160 160 — — 3 411 U.S. EQUITY SECURITIES RISK In May 2019, Duke Energy Florida entered into a Decommissioning Services Agreement for the accelerated decommissioning of Crystal River Unit 3 with ADP CR3, LLC and ADP SF1, LLC. See Note 3 for additional information on the accelerated decommissioning. Duke Energy Florida executed U.S. equity option collars within the NDTF in May 2019 to preserve the U.S. equity portfolio value in the Duke Energy Florida NDTF in the event the accelerated decommissioning is approved. These option collars were executed as a purchase of a put option and the sale of a call option on certain U.S. equity index funds. The put and call options create a collar to guarantee a minimum and maximum investment value for the Duke Energy Florida NDTF U.S. equity portfolio. The put and call options were entered into at zero-cost, with the price to purchase the puts offset entirely by the funds received to sell the calls. As of March 31, 2020 , the aggregate notional amount of both the put and call options was 305,000 units in U.S. equity security index funds. The options are not designated as hedging instruments. Substantially all of Duke Energy Florida’s NDTF qualifies for regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the options are deferred as regulatory liabilities or regulatory assets, respectively. The Duke Energy Florida NDTF liquidated the options in April 2020, and received proceeds of approximately $7 million . LOCATION AND FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES RECOGNIZED ON THE CONDENSED CONSOLIDATED BALANCE SHEETS The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Condensed Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown. Derivative Assets March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 6 $ — $ — $ — $ — $ — $ 2 $ 3 Noncurrent 4 2 1 1 — 1 — — Total Derivative Assets – Commodity Contracts $ 10 $ 2 $ 1 $ 1 $ — $ 1 $ 2 $ 3 Interest Rate Contracts Not Designated as Hedging Instruments Current $ 3 $ — $ 3 $ 3 $ — $ — $ — $ — Noncurrent 1 — 1 1 — — — — Total Derivative Assets – Interest Rate Contracts $ 4 $ — $ 4 $ 4 $ — $ — $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Noncurrent (a) 20 — 20 — 20 — — — Total Derivative Assets – Equity Securities Contracts $ 20 $ — $ 20 $ — $ 20 $ — $ — $ — Total Derivative Assets $ 34 $ 2 $ 25 $ 5 $ 20 $ 1 $ 2 $ 3 (a) Equity security contracts are current since they were set to expire in May 2020 but are classified as noncurrent assets on the Condensed Consolidated Balance Sheet because the amount is presented within the NDTF. Derivative Liabilities March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 79 $ 40 $ 31 $ 31 $ — $ — $ — $ 8 Noncurrent 130 11 35 20 — — — 83 Total Derivative Liabilities – Commodity Contracts $ 209 $ 51 $ 66 $ 51 $ — $ — $ — $ 91 Interest Rate Contracts Designated as Hedging Instruments Current $ 69 $ — $ — $ — $ — $ — $ — $ — Noncurrent 54 — — — — — — — Not Designated as Hedging Instruments Current 30 — 29 — 29 1 — — Noncurrent 28 23 — — — 6 — — Total Derivative Liabilities – Interest Rate Contracts $ 181 $ 23 $ 29 $ — $ 29 $ 7 $ — $ — Total Derivative Liabilities $ 390 $ 74 $ 95 $ 51 $ 29 $ 7 $ — $ 91 Derivative Assets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 17 $ — $ — $ — $ — $ 3 $ 13 $ 1 Noncurrent 1 — — — — 1 — — Total Derivative Assets – Commodity Contracts $ 18 $ — $ — $ — $ — $ 4 $ 13 $ 1 Interest Rate Contracts Not Designated as Hedging Instruments Current 6 — 6 — 6 — — — Total Derivative Assets – Interest Rate Contracts $ 6 $ — $ 6 $ — $ 6 $ — $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 1 — 1 — 1 — — — Total Derivative Assets – Equity Securities Contracts $ 1 $ — $ 1 $ — $ 1 $ — $ — $ — Total Derivative Assets $ 25 $ — $ 7 $ — $ 7 $ 4 $ 13 $ 1 Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 67 $ 33 $ 26 $ 26 $ — $ — $ 1 $ 7 Noncurrent 156 10 37 22 — — — 110 Total Derivative Liabilities – Commodity Contracts $ 223 $ 43 $ 63 $ 48 $ — $ — $ 1 $ 117 Interest Rate Contracts Designated as Hedging Instruments Current $ 19 $ — $ — $ — $ — $ — $ — $ — Noncurrent 21 — — — — — — — Not Designated as Hedging Instruments Current 8 6 1 1 — 1 — — Noncurrent 5 — — — — 5 — — Total Derivative Liabilities – Interest Rate Contracts $ 53 $ 6 $ 1 $ 1 $ — $ 6 $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 24 — 24 — 24 — — — Total Derivative Liabilities – Equity Securities Contracts $ 24 $ — $ 24 $ — $ 24 $ — $ — $ — Total Derivative Liabilities $ 300 $ 49 $ 88 $ 49 $ 24 $ 6 $ 1 $ 117 OFFSETTING ASSETS AND LIABILITIES The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below. Derivative Assets March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 9 $ — $ 3 $ 3 $ — $ — $ 2 $ 3 Gross amounts offset — — — — — — — — Net amounts presented in Current Assets: Other $ 9 $ — $ 3 $ 3 $ — $ — $ 2 $ 3 Noncurrent Gross amounts recognized $ 25 $ 2 $ 22 $ 2 $ 20 $ 1 $ — $ — Gross amounts offset (3 ) (2 ) (1 ) (1 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 2 $ — $ 1 $ 1 $ — $ 1 $ — $ — Net amounts presented in NDTF $ 20 $ — $ 20 $ — $ 20 $ — $ — $ — Derivative Liabilities March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 178 $ 40 $ 60 $ 31 $ 29 $ 1 $ — $ 8 Gross amounts offset — — — — — — — — Net amounts presented in Current Liabilities: Other $ 178 $ 40 $ 60 $ 31 $ 29 $ 1 $ — $ 8 Noncurrent Gross amounts recognized $ 212 $ 34 $ 35 $ 20 $ — $ 6 $ — $ 83 Gross amounts offset (3 ) (2 ) (1 ) (1 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 209 $ 32 $ 34 $ 19 $ — $ 6 $ — $ 83 Derivative Assets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 24 $ — $ 7 $ — $ 7 $ 3 $ 13 $ 1 Gross amounts offset (1 ) — (1 ) — (1 ) — — — Net amounts presented in Current Assets: Other $ 23 $ — $ 6 $ — $ 6 $ 3 $ 13 $ 1 Noncurrent Gross amounts recognized $ 1 $ — $ — $ — $ — $ 1 $ — $ — Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Assets: Other $ 1 $ — $ — $ — $ — $ 1 $ — $ — Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 118 $ 39 $ 51 $ 27 $ 24 $ 1 $ 1 $ 7 Gross amounts offset (24 ) — (24 ) — (24 ) — — — Net amounts presented in Current Liabilities: Other $ 94 $ 39 $ 27 $ 27 $ — $ 1 $ 1 $ 7 Noncurrent Gross amounts recognized $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 OBJECTIVE CREDIT CONTINGENT FEATURES Certain derivative contracts contain objective credit contingent features. These features include the requirement to post cash collateral or letters of credit if specific events occur, such as a credit rating downgrade below investment grade. The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit-risk-related payment provisions. March 31, 2020 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 96 $ 45 $ 51 $ 51 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 96 45 51 51 December 31, 2019 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 79 $ 35 $ 44 $ 44 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 79 35 44 44 The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative and cash collateral must be executed with the same counterparty under the same master netting arrangement. |
Investments in Debt and Equity
Investments in Debt and Equity Securities | 3 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments In Debt And Equity Securities | INVESTMENTS IN DEBT AND EQUITY SECURITIES Duke Energy’s investments in debt and equity securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) the grantor trusts at Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans and (iii) Bison. The Duke Energy Registrants classify investments in debt securities as AFS and investments in equity securities as fair value through net income (FV-NI). For investments in debt securities classified as AFS, the unrealized gains and losses are included in other comprehensive income until realized, at which time, they are reported through net income. For investments in equity securities classified as FV-NI, both realized and unrealized gains and losses are reported through net income. Substantially all of Duke Energy’s investments in debt and equity securities qualify for regulatory accounting, and accordingly, all associated realized and unrealized gains and losses on these investments are deferred as a regulatory asset or liability. Duke Energy classifies the majority of investments in debt and equity securities as long term, unless otherwise noted. Investment Trusts The investments within the Investment Trusts are managed by independent investment managers with discretion to buy, sell and invest pursuant to the objectives set forth by the trust agreements. The Duke Energy Registrants have limited oversight of the day-to-day management of these investments. As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt securities within the Investment Trusts are recognized immediately and deferred to regulatory accounts where appropriate. Other AFS Securities Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment has a credit loss. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value is related to a credit loss. If an credit loss exists, the unrealized credit loss is included in earnings. There were no material credit losses as of March 31, 2020 , and December 31, 2019 . Other Investments amounts are recorded in Other within Other Noncurrent Assets on the Condensed Consolidated Balance Sheets. DUKE ENERGY The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 119 $ — $ — $ 101 Equity securities 2,499 170 4,488 3,523 55 5,661 Corporate debt securities 26 16 642 37 1 603 Municipal bonds 10 2 404 13 — 368 U.S. government bonds 70 — 1,212 33 1 1,256 NDTF equity security contracts 20 — 20 — — — Other debt securities 4 3 163 3 — 141 Total NDTF Investments $ 2,629 $ 191 $ 7,048 $ 3,609 $ 57 $ 8,130 Other Investments Cash and cash equivalents $ — $ — $ 78 $ — $ — $ 52 Equity securities 31 1 95 57 — 122 Corporate debt securities — — 89 3 — 67 Municipal bonds 6 1 98 4 — 94 U.S. government bonds 5 — 51 2 — 41 Other debt securities — — 52 — — 56 Total Other Investments $ 42 $ 2 $ 463 $ 66 $ — $ 432 Total Investments $ 2,671 $ 193 $ 7,511 $ 3,675 $ 57 $ 8,562 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 23 $ 35 Realized losses 65 30 AFS: Realized gains 20 10 Realized losses 6 11 DUKE ENERGY CAROLINAS The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 33 $ — $ — $ 21 Equity securities 1,355 81 2,498 1,914 8 3,154 Corporate debt securities 15 12 392 21 1 361 Municipal bonds 3 1 128 3 — 96 U.S. government bonds 35 — 502 16 1 578 Other debt securities 3 3 159 3 — 137 Total NDTF Investments $ 1,411 $ 97 $ 3,712 $ 1,957 $ 10 $ 4,347 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 9 $ 23 Realized losses 45 21 AFS: Realized gains 12 9 Realized losses 5 10 PROGRESS ENERGY The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 86 $ — $ — $ 80 Equity securities 1,144 89 1,990 1,609 47 2,507 Corporate debt securities 11 4 250 16 — 242 Municipal bonds 7 1 276 10 — 272 U.S. government bonds 35 — 710 17 — 678 NDTF equity security contracts 20 — 20 — — — Other debt securities 1 — 4 — — 4 Total NDTF Investments $ 1,218 $ 94 $ 3,336 $ 1,652 $ 47 $ 3,783 Other Investments Cash and cash equivalents $ — $ — $ 69 $ — $ — $ 49 Municipal bonds 5 — 53 3 — 51 Total Other Investments $ 5 $ — $ 122 $ 3 $ — $ 100 Total Investments $ 1,223 $ 94 $ 3,458 $ 1,655 $ 47 $ 3,883 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 14 $ 12 Realized losses 20 9 AFS: Realized gains 5 1 Realized losses 1 1 DUKE ENERGY PROGRESS The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 51 $ — $ — $ 53 Equity securities 881 79 1,631 1,258 21 2,077 Corporate debt securities 11 4 250 16 — 242 Municipal bonds 7 1 276 10 — 272 U.S. government bonds 34 — 436 16 — 403 Other debt securities 1 — 4 — — 4 Total NDTF Investments $ 934 $ 84 $ 2,648 $ 1,300 $ 21 $ 3,051 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 2 Total Other Investments $ — $ — $ 2 $ — $ — $ 2 Total Investments $ 934 $ 84 $ 2,650 $ 1,300 $ 21 $ 3,053 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 14 $ 10 Realized losses 20 8 AFS: Realized gains 5 1 Realized losses 1 1 DUKE ENERGY FLORIDA The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 35 $ — $ — $ 27 Equity securities 263 10 359 351 26 430 U.S. government bonds 1 — 274 1 — 275 NDTF equity security contracts 20 — 20 — — — Total NDTF Investments (a) $ 284 $ 10 $ 688 $ 352 $ 26 $ 732 Other Investments Cash and cash equivalents $ — $ — $ 3 $ — $ — $ 4 Municipal bonds 5 — 53 3 — 51 Total Other Investments $ 5 $ — $ 56 $ 3 $ — $ 55 Total Investments $ 289 $ 10 $ 744 $ 355 $ 26 $ 787 (a) During the three months ended March 31, 2020 , Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3. Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were immaterial. DUKE ENERGY INDIANA The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value Investments Equity securities $ 26 $ 1 $ 63 $ 43 $ — $ 81 Corporate debt securities — — 4 — — 6 Municipal bonds 1 1 36 1 — 36 U.S. government bonds — — 3 — — 2 Total Investments $ 27 $ 2 $ 106 $ 44 $ — $ 125 Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were immaterial. DEBT SECURITY MATURITIES The table below summarizes the maturity date for debt securities. March 31, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana Due in one year or less $ 333 $ 25 $ 302 $ 26 $ 276 $ 3 Due after one through five years 538 234 236 227 9 17 Due after five through 10 years 465 188 214 207 7 7 Due after 10 years 1,375 734 541 506 35 16 Total $ 2,711 $ 1,181 $ 1,293 $ 966 $ 327 $ 43 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair value is the exchange price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value definition focuses on an exit price versus the acquisition cost. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize use of unobservable inputs. A midmarket pricing convention (the midpoint price between bid and ask prices) is permitted for use as a practical expedient. Fair value measurements are classified in three levels based on the fair value hierarchy as defined by GAAP. Certain investments are not categorized within the fair value hierarchy. These investments are measured at fair value using the net asset value (NAV) per share practical expedient. The NAV is derived based on the investment cost, less any impairment, plus or minus changes resulting from observable price changes for an identical or similar investment of the same issuer. Fair value accounting guidance permits entities to elect to measure certain financial instruments that are not required to be accounted for at fair value, such as equity method investments or the company’s own debt, at fair value. The Duke Energy Registrants have not elected to record any of these items at fair value. Valuation methods of the primary fair value measurements disclosed below are as follows. Investments in equity securities The majority of investments in equity securities are valued using Level 1 measurements. Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as the New York Stock Exchange and Nasdaq Stock Market. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. There was no after-hours market activity that was required to be reflected in the reported fair value measurements. Investments in debt securities Most investments in debt securities are valued using Level 2 measurements because the valuations use interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. If the market for a particular fixed-income security is relatively inactive or illiquid, the measurement is Level 3. Commodity derivatives Commodity derivatives with clearinghouses are classified as Level 1. If forward price curves are not observable for the full term of the contract and the unobservable period had more than an insignificant impact on the valuation, the commodity derivative is classified as Level 3. In isolation, increases (decreases) in natural gas forward prices result in favorable (unfavorable) fair value adjustments for natural gas purchase contracts; and increases (decreases) in electricity forward prices result in unfavorable (favorable) fair value adjustments for electricity sales contracts. Duke Energy regularly evaluates and validates pricing inputs used to estimate the fair value of natural gas commodity contracts by a market participant price verification procedure. This procedure provides a comparison of internal forward commodity curves to market participant generated curves. Interest rate derivatives Most over-the-counter interest rate contract derivatives are valued using financial models that utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward interest rate curves, notional amounts, interest rates and credit quality of the counterparties. Other fair value considerations See Note 12 in Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2019, for a discussion of the valuation of goodwill and intangible assets. DUKE ENERGY The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 8 . See Note 9 for additional information related to investments by major security type for the Duke Energy Registrants. March 31, 2020 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 4,488 $ 4,440 $ — $ — $ 48 NDTF debt securities 2,540 767 1,773 — — Other equity securities 95 95 — — — Other debt securities 368 126 242 — — NDTF equity security contracts 20 — 20 — — Derivative assets 34 3 28 3 — Total assets 7,545 5,431 2,063 3 48 Derivative liabilities (390 ) (49 ) (250 ) (91 ) — Net assets (liabilities) $ 7,155 $ 5,382 $ 1,813 $ (88 ) $ 48 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 5,684 $ 5,633 $ — $ — $ 51 NDTF debt securities 2,469 826 1,643 — — Other equity securities 122 122 — — — Other debt securities 310 91 219 — — Derivative assets 25 3 7 15 — Total assets 8,610 6,675 1,869 15 51 NDTF equity security contracts (23 ) — (23 ) — — Derivative liabilities (277 ) (15 ) (145 ) (117 ) — Net assets (liabilities) $ 8,310 $ 6,660 $ 1,701 $ (102 ) $ 51 The following tables provide reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements. Derivatives (net) Three Months Ended March 31, (in millions) 2020 2019 Balance at beginning of period $ (102 ) $ (113 ) Purchases, sales, issuances and settlements: Settlements (9 ) (12 ) Total gains included on the Condensed Consolidated Balance Sheet 23 10 Balance at end of period $ (88 ) $ (115 ) DUKE ENERGY CAROLINAS The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 2,498 $ 2,450 $ — $ 48 NDTF debt securities 1,214 182 1,032 — Derivative assets 2 — 2 — Total assets 3,714 2,632 1,034 48 Derivative liabilities (74 ) — (74 ) — Net assets $ 3,640 $ 2,632 $ 960 $ 48 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 3,154 $ 3,103 $ — $ 51 NDTF debt securities 1,193 227 966 — Total assets 4,347 3,330 966 51 Derivative liabilities (49 ) — (49 ) — Net assets $ 4,298 $ 3,330 $ 917 $ 51 PROGRESS ENERGY The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 1,990 $ 1,990 $ — $ 2,530 $ 2,530 $ — NDTF debt securities 1,326 585 741 1,276 599 677 Other debt securities 122 69 53 100 49 51 NDTF equity security contracts 20 — 20 — — — Derivative assets 25 — 25 7 — 7 Total assets 3,483 2,644 839 3,913 3,178 735 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities (95 ) — (95 ) (65 ) — (65 ) Net assets $ 3,388 $ 2,644 $ 744 $ 3,825 $ 3,178 $ 647 DUKE ENERGY PROGRESS The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 1,631 $ 1,631 $ — $ 2,077 $ 2,077 $ — NDTF debt securities 1,017 276 741 974 297 677 Other debt securities 2 2 — 2 2 — Derivative assets 5 — 5 — — — Total assets 2,655 1,909 746 3,053 2,376 677 Derivative liabilities (51 ) — (51 ) (49 ) — (49 ) Net assets $ 2,604 $ 1,909 $ 695 $ 3,004 $ 2,376 $ 628 DUKE ENERGY FLORIDA The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 359 $ 359 $ — $ 453 $ 453 $ — NDTF debt securities 309 309 — 302 302 — Other debt securities 56 3 53 55 4 51 NDTF equity security contracts 20 — 20 — — — Derivative assets — — — 7 — 7 Total assets 744 671 73 817 759 58 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities (29 ) — (29 ) (1 ) — (1 ) Net assets $ 715 $ 671 $ 44 $ 793 $ 759 $ 34 DUKE ENERGY OHIO The recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets were not material at March 31, 2020 , and December 31, 2019 . DUKE ENERGY INDIANA The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Other equity securities $ 63 $ 63 $ — $ — $ 81 $ 81 $ — $ — Other debt securities 43 — 43 — 44 — 44 — Derivative assets 2 — — 2 13 2 — 11 Total assets $ 108 $ 63 $ 43 $ 2 $ 138 $ 83 $ 44 $ 11 Derivative liabilities — — — — (1 ) (1 ) — — Net assets $ 108 $ 63 $ 43 $ 2 $ 137 $ 82 $ 44 $ 11 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) Three Months Ended March 31, (in millions) 2020 2019 Balance at beginning of period $ 11 $ 22 Purchases, sales, issuances and settlements: Settlements (6 ) (10 ) Total losses included on the Condensed Consolidated Balance Sheet (3 ) (7 ) Balance at end of period $ 2 $ 5 PIEDMONT The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 3 Total Fair Value Level 1 Level 3 Derivative assets $ 3 $ 3 $ — $ 1 $ 1 $ — Derivative liabilities (91 ) — (91 ) (117 ) — (117 ) Net (liabilities) assets $ (88 ) $ 3 $ (91 ) $ (116 ) $ 1 $ (117 ) 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) Three Months Ended March 31, (in millions) 2020 2019 Balance at beginning of period $ (117 ) $ (141 ) Total gains and settlements 26 20 Balance at end of period $ (91 ) $ (121 ) QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. March 31, 2020 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Ohio FTRs $ 1 RTO auction pricing FTR price – per MWh $ 0.04 - $ 3.29 $ 1.03 Duke Energy Indiana FTRs 2 RTO auction pricing FTR price – per MWh (0.37 ) - 6.06 0.54 Piedmont Natural gas contracts (91 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.64 - 2.41 1.94 Duke Energy Total Level 3 derivatives $ (88 ) December 31, 2019 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Ohio FTRs $ 4 RTO auction pricing FTR price – per MWh $ 0.59 - $ 3.47 $ 2.07 Duke Energy Indiana FTRs 11 RTO auction pricing FTR price – per MWh (0.66 ) - 9.24 1.15 Piedmont Natural gas contracts (117 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.59 - 2.46 1.91 Duke Energy Total Level 3 derivatives $ (102 ) 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. March 31, 2020 December 31, 2019 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy (a) $ 61,388 $ 65,644 $ 58,126 $ 63,062 Duke Energy Carolinas 12,807 14,312 11,900 13,516 Progress Energy 19,355 21,802 19,634 22,291 Duke Energy Progress 9,059 9,798 9,058 9,934 Duke Energy Florida 7,706 8,831 7,987 9,131 Duke Energy Ohio 2,620 2,904 2,619 2,964 Duke Energy Indiana 4,603 5,433 4,057 4,800 Piedmont 2,385 2,551 2,384 2,642 (a) Book value of long-term debt includes $1.4 billion at March 31, 2020 , and $1.5 billion at December 31, 2019 , of unamortized debt discount and premium, net of purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt. At both March 31, 2020 , and December 31, 2019 , fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper and nonrecourse notes payable of VIEs are not materially different from their carrying amounts because of the short-term nature of these instruments and/or because the stated rates approximate market rates. |
Variable Interest Entities
Variable Interest Entities | 3 Months Ended |
Mar. 31, 2020 | |
Variable Interest Entities [Abstract] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES CONSOLIDATED VIEs The obligations of the consolidated VIEs discussed in the following paragraphs are nonrecourse to the Duke Energy Registrants. The registrants have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs. No financial support was provided to any of the consolidated VIEs during the three months ended March 31, 2020 , and the year ended December 31, 2019 , or is expected to be provided in the future that was not previously contractually required. Receivables Financing – DERF/DEPR/DEFR DERF, DEPR and DEFR are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively. DERF, DEPR and DEFR are wholly owned LLCs with separate legal existence from their parent companies, and their assets are not generally available to creditors of their parent companies. On a revolving basis, DERF, DEPR and DEFR buy certain accounts receivable arising from the sale of electricity and related services from their parent companies. DERF, DEPR and DEFR borrow amounts under credit facilities to buy these receivables. Borrowing availability from the credit facilities is limited to the amount of qualified receivables purchased. The sole source of funds to satisfy the related debt obligations is cash collections from the receivables. Amounts borrowed under the credit facilities are reflected on the Condensed Consolidated Balance Sheets as Long-Term Debt. The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions. Due to the COVID-19 pandemic, as described in Note 1, the Duke Energy Registrants suspended customer disconnections for nonpayment. The impact of COVID-19 and the Duke Energy Registrant’s related response on customers’ ability to pay for service is uncertain, and it is reasonably possible eventual write-offs of customer receivables may increase over current estimates. See Note 3 for information about COVID-19 filings with state utility commissions. Receivables Financing – CRC CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC. The sole source of funds to satisfy the related debt obligation is cash collections from the receivables. Amounts borrowed under the credit facility are reflected on Duke Energy's Condensed Consolidated Balance Sheets as Long-Term Debt. The proceeds Duke Energy Ohio and Duke Energy Indiana receive from the sale of receivables to CRC are approximately 75% cash and 25% in the form of a subordinated note from CRC. The subordinated note is a retained interest in the receivables sold. Depending on collection experience, additional equity infusions to CRC may be required by Duke Energy to maintain a minimum equity balance of $3 million . CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity is not held by the equity holder and (iii) deficiencies in net worth of CRC are funded by Duke Energy. The most significant activities that impact the economic performance of CRC are decisions made to manage delinquent receivables. Duke Energy is considered the primary beneficiary and consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC. Due to the COVID-19 pandemic, as described in Note 1, the Duke Energy Registrants suspended customer disconnections for nonpayment. The impact of COVID-19 and the Duke Energy Registrant’s related response on customers’ ability to pay for service is uncertain, and it is reasonably possible eventual write-offs of customer receivables may increase over current estimates. See Note 3 for information about COVID-19 filings with state utility commissions. Receivables Financing – Credit Facilities The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above. Duke Energy Duke Energy Duke Energy Duke Energy Carolinas Progress Florida (in millions) CRC DERF DEPR DEFR Expiration date February 2023 December 2022 April 2023 April 2021 Credit facility amount $ 350 $ 475 $ 375 $ 250 Amounts borrowed at March 31, 2020 350 475 325 250 Amounts borrowed at December 31, 2019 350 474 325 250 Restricted Receivables at March 31, 2020 467 616 410 331 Restricted Receivables at December 31, 2019 522 642 489 336 Nuclear Asset-Recovery Bonds – DEFPF DEFPF is a bankruptcy remote, wholly owned special purpose subsidiary of Duke Energy Florida. DEFPF was formed in 2016 for the sole purpose of issuing nuclear asset-recovery bonds to finance Duke Energy Florida's unrecovered regulatory asset related to Crystal River Unit 3. In 2016, DEFPF issued senior secured bonds and used the proceeds to acquire nuclear asset-recovery property from Duke Energy Florida. The nuclear asset-recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable nuclear asset-recovery charge from all Duke Energy Florida retail customers until the bonds are paid in full and all financing costs have been recovered. The nuclear asset-recovery bonds are secured by the nuclear asset-recovery property and cash collections from the nuclear asset-recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Florida. DEFPF is considered a VIE primarily because the equity capitalization is insufficient to support its operations. Duke Energy Florida has the power to direct the significant activities of the VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates DEFPF. The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets. (in millions) March 31, 2020 December 31, 2019 Receivables of VIEs $ 4 $ 5 Regulatory Assets: Current 53 52 Current Assets: Other 13 39 Other Noncurrent Assets: Regulatory assets 980 989 Current Liabilities: Other 2 10 Current maturities of long-term debt 54 54 Long-Term Debt 1,028 1,057 Commercial Renewables Certain of Duke Energy’s renewable energy facilities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. Assets are restricted and cannot be pledged as collateral or sold to third parties without prior approval of debt holders. Additionally, Duke Energy has VIEs associated with tax equity arrangements entered into with third-party investors in order to finance the cost of renewable assets eligible for tax credits. The activities that most significantly impacted the economic performance of these renewable energy facilities were decisions associated with siting, negotiating PPAs and Engineering, Procurement and Construction agreements, and decisions associated with ongoing operations and maintenance-related activities. Duke Energy is considered the primary beneficiary and consolidates the entities as it is responsible for all of these decisions. The table below presents material balances reported on Duke Energy's Condensed Consolidated Balance Sheets related to Commercial Renewables VIEs. (in millions) March 31, 2020 December 31, 2019 Current Assets: Other $ 287 $ 203 Property, Plant and Equipment: Cost 6,106 5,747 Accumulated depreciation and amortization (1,094 ) (1,041 ) Other Noncurrent Assets: Other 82 106 Current maturities of long-term debt 162 162 Long-Term Debt 1,538 1,541 Other Noncurrent Liabilities: AROs 129 127 Other Noncurrent Liabilities: Other 258 228 NON-CONSOLIDATED VIEs The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets. March 31, 2020 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 39 $ 48 Investments in equity method unconsolidated affiliates 1,243 371 — 1,614 — — Total assets $ 1,243 $ 370 $ — $ 1,613 $ 39 $ 48 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 3 3 — — Deferred income taxes 69 — — 69 — — Other noncurrent liabilities 105 — 11 116 — — Total liabilities $ 173 $ — $ 14 $ 187 $ — $ — Net assets (liabilities) $ 1,070 $ 370 $ (14 ) $ 1,426 $ 39 $ 48 December 31, 2019 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 64 $ 77 Investments in equity method unconsolidated affiliates 1,179 300 — 1,479 — — Total assets $ 1,179 $ 299 $ — $ 1,478 $ 64 $ 77 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 4 4 — — Deferred income taxes 59 — — 59 — — Other noncurrent liabilities — — 11 11 — — Total liabilities $ 58 $ — $ 15 $ 73 $ — $ — Net assets (liabilities) $ 1,121 $ 299 $ (15 ) $ 1,405 $ 64 $ 77 The Duke Energy Registrants are not aware of any situations where the maximum exposure to loss significantly exceeds the carrying values shown above except for the PPA with OVEC, which is discussed below, and various guarantees, including Duke Energy's guarantee agreement to support its share of the ACP revolving credit facility. Duke Energy's maximum exposure to loss under the terms of the guarantee is $845 million , which represents 47% of the outstanding borrowings under the credit facility as of March 31, 2020 . For more information on various guarantees, refer to Note 4 . Pipeline Investments Duke Energy has investments in various joint ventures with pipeline projects currently under construction. These entities are considered VIEs due to having insufficient equity to finance their own activities without subordinated financial support. Duke Energy does not have the power to direct the activities that most significantly impact the economic performance, the obligation to absorb losses or the right to receive benefits of these VIEs and therefore does not consolidate these entities. The table below presents Duke Energy's ownership interest and investment balances in these joint ventures. VIE Investment Amount (in millions) Ownership March 31, December 31, Entity Name Interest 2020 2019 ACP (a) 47 % $ 1,243 $ 1,179 Constitution (b) 24 % — — Total $ 1,243 $ 1,179 (a) Duke Energy evaluated this investment for impairment as of March 31, 2020 , and December 31, 2019 , and determined that fair value approximated carrying value and therefore no impairment was necessary. (b) During the year ended December 31, 2019, Duke Energy recorded an OTTI related to Constitution. This charge resulted in the full write-down of Duke Energy's investment in Constitution. Commercial Renewables Duke Energy has investments in various renewable energy project entities. Some of these entities are VIEs due to Duke Energy issuing guarantees for debt service and operations and maintenance reserves in support of debt financings. Duke Energy does not consolidate these VIEs because power to direct and control key activities is shared jointly by Duke Energy and other owners. In 2019, Duke Energy acquired a majority ownership in a portfolio of distributed fuel cell projects from Bloom Energy Corporation. Duke Energy is not the primary beneficiary of the assets within the portfolio and does not consolidate the assets in the portfolio. OVEC Duke Energy Ohio’s 9% ownership interest in OVEC is considered a non-consolidated VIE due to OVEC having insufficient equity to finance its activities without subordinated financial support. The activities that most significantly impact OVEC's economic performance include fuel strategy and supply activities and decisions associated with ongoing operations and maintenance-related activities. Duke Energy Ohio does not have the unilateral power to direct these activities, and therefore, does not consolidate OVEC. As a counterparty to an Inter-Company Power Agreement (ICPA), Duke Energy Ohio has a contractual arrangement to receive entitlements to capacity and energy from OVEC’s power plants through June 2040 commensurate with its power participation ratio, which is equivalent to Duke Energy Ohio's ownership interest. Costs, including fuel, operating expenses, fixed costs, debt amortization and interest expense, are allocated to counterparties to the ICPA based on their power participation ratio. The value of the ICPA is subject to variability due to fluctuation in power prices and changes in OVEC's cost of business. On March 31, 2018, FirstEnergy Solutions Corp (FES), a subsidiary of FirstEnergy Corp. and an ICPA counterparty with a power participation ratio of 4.85% , filed for Chapter 11 bankruptcy, which could increase costs allocated to the counterparties. On July 31, 2018, the bankruptcy court rejected the FES ICPA, which means OVEC is an unsecured creditor in the FES bankruptcy proceeding. In addition, certain proposed environmental rulemaking could result in future increased OVEC cost allocations. See Note 3 for additional information. CRC See discussion under Consolidated VIEs for additional information related to CRC. Amounts included in Receivables from affiliated companies in the above table for Duke Energy Ohio and Duke Energy Indiana reflect their retained interest in receivables sold to CRC. These subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value. The following table shows the gross and net receivables sold. Duke Energy Ohio Duke Energy Indiana (in millions) March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 Receivables sold $ 234 $ 253 $ 274 $ 307 Less: Retained interests 39 64 48 77 Net receivables sold $ 195 $ 189 $ 226 $ 230 The following table shows sales and cash flows related to receivables sold. Duke Energy Ohio Duke Energy Indiana Three Months Ended Three Months Ended March 31, March 31, (in millions) 2020 2019 2020 2019 Sales Receivables sold $ 537 $ 575 $ 647 $ 734 Loss recognized on sale 4 4 4 5 Cash flows Cash proceeds from receivables sold $ 559 $ 597 $ 672 $ 758 Return received on retained interests 2 2 2 3 Cash flows from sales of receivables are reflected within Cash Flows From Operating Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Condensed Consolidated Statements of Cash Flows. |
Revenue
Revenue | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | REVENUE Duke Energy earns substantially all of its revenues through its reportable segments, Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. Electric Utilities and Infrastructure Electric Utilities and Infrastructure earns the majority of its revenues through retail and wholesale electric service through the generation, transmission, distribution and sale of electricity. Duke Energy generally provides retail and wholesale electric service customers with their full electric load requirements or with supplemental load requirements when the customer has other sources of electricity. The majority of wholesale revenues are full requirements contracts where the customers purchase the substantial majority of their energy needs and do not have a fixed quantity of contractually required energy or capacity. As such, related forecasted revenues are considered optional purchases. Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations: Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Progress Energy $ 84 $ 92 $ 87 $ 44 $ 45 $ 58 $ 410 Duke Energy Progress 6 8 8 8 8 — 38 Duke Energy Florida 78 84 79 36 37 58 372 Duke Energy Indiana 8 5 — — — — 13 Revenues for block sales are recognized monthly as energy is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Gas Utilities and Infrastructure Gas Utilities and Infrastructure earns its revenues through retail and wholesale natural gas service through the transportation, distribution and sale of natural gas. Duke Energy generally provides retail and wholesale natural gas service customers with all natural gas load requirements. Additionally, while natural gas can be stored, substantially all natural gas provided by Duke Energy is consumed by customers simultaneously with receipt of delivery. Fixed-capacity payments under long-term contracts for the Gas Utilities and Infrastructure segment include minimum margin contracts and supply arrangements with municipalities and power generation facilities. Revenues for related sales are recognized monthly as natural gas is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Estimated remaining performance obligations are as follows: Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Piedmont $ 51 $ 65 $ 64 $ 61 $ 58 $ 376 $ 675 Commercial Renewables Commercial Renewables earns the majority of its revenues through long-term PPAs and generally sells all of its wind and solar facility output, electricity and Renewable Energy Certificates (RECs) to customers. The majority of these PPAs have historically been accounted for as leases. For PPAs that are not accounted for as leases, the delivery of electricity and the delivery of RECs are considered separate performance obligations. Other The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers. Disaggregated Revenues Disaggregated revenues are presented as follows: Three Months Ended March 31, 2020 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 2,261 $ 756 $ 1,064 $ 502 $ 562 $ 176 $ 265 $ — General 1,492 549 648 319 329 114 181 — Industrial 693 269 216 154 62 35 175 — Wholesale 497 114 321 279 42 7 55 — Other revenues 191 60 118 63 55 20 16 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 5,134 $ 1,748 $ 2,367 $ 1,317 $ 1,050 $ 352 $ 692 $ — Gas Utilities and Infrastructure Residential $ 362 $ — $ — $ — $ — $ 97 $ — $ 264 Commercial 169 — — — — 43 — 126 Industrial 41 — — — — 6 — 36 Power Generation — — — — — — — 11 Other revenues 30 — — — — 6 — 24 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 602 $ — $ — $ — $ — $ 152 $ — $ 461 Commercial Renewables Revenue from contracts with customers $ 58 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 6 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 5,800 $ 1,748 $ 2,367 $ 1,317 $ 1,050 $ 504 $ 692 $ 461 Other revenue sources (a) $ 149 $ — $ 55 $ 21 $ 30 $ (6 ) $ — $ 51 Total revenues $ 5,949 $ 1,748 $ 2,422 $ 1,338 $ 1,080 $ 498 $ 692 $ 512 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. Three Months Ended March 31, 2019 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 2,370 $ 760 $ 1,114 $ 536 $ 578 $ 189 $ 306 $ — General 1,427 496 632 306 326 103 197 — Industrial 711 266 222 161 61 33 190 — Wholesale 541 119 353 315 38 14 54 — Other revenues 172 78 172 125 47 16 17 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 5,221 $ 1,719 $ 2,493 $ 1,443 $ 1,050 $ 355 $ 764 $ — Gas Utilities and Infrastructure Residential $ 414 $ — $ — $ — $ — $ 112 $ — $ 302 Commercial 206 — — — — 49 — 157 Industrial 48 — — — — 7 — 42 Power Generation — — — — — — — 13 Other revenues 63 — — — — 8 — 56 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 731 $ — $ — $ — $ — $ 176 $ — $ 570 Commercial Renewables Revenue from contracts with customers $ 42 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 4 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 5,998 $ 1,719 $ 2,493 $ 1,443 $ 1,050 $ 531 $ 764 $ 570 Other revenue sources (a) $ 165 $ 25 $ 79 $ 41 $ 36 $ — $ 4 $ 9 Total revenues $ 6,163 $ 1,744 $ 2,572 $ 1,484 $ 1,086 $ 531 $ 768 $ 579 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. As described in Note 1 , Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The following table presents the reserve for credit losses for trade and other receivables based on adoption of the new standard. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Balance at December 31, 2019 $ 76 $ 10 $ 16 $ 8 $ 7 $ 4 $ 3 $ 6 Cumulative Change in Accounting Principle 5 1 2 1 1 — — 1 Write-Offs (10 ) (3 ) (4 ) (2 ) (2 ) — — (1 ) Credit Loss Expense 18 3 6 2 5 1 — 3 Balance at March 31, 2020 $ 89 $ 11 $ 20 $ 9 $ 11 $ 5 $ 3 $ 9 Trade and other receivables are evaluated based on an estimate of the risk of loss over the life of the receivable and current and historical conditions using supportable assumptions. Management evaluates the risk of loss for trade and other receivables by comparing the historical write-off amounts to total revenue over a specified period. Historical loss rates are adjusted due to the impact of current conditions as well as forecasted conditions over a reasonable time period. The calculated write-off rate can be applied to the receivable balance for which an established reserve does not already exist. Management reviews the assumptions and risk of loss annually for trade and other receivables. Due to the COVID-19 pandemic, as described in Note 1 , the Duke Energy Registrants suspended customer disconnections for nonpayment. The specific actions taken by each Duke Energy Registrant are described in Note 3 . The impact of COVID-19 and Duke Energy’s related response on customers’ ability to pay for service is uncertain, and it is reasonably possible eventual write-offs of customer receivables may increase over current estimates. The aging of trade receivables is presented in the table below. Duke Energy considers receivables greater than 30 days outstanding past due. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unbilled Receivables $ 716 $ 285 $ 195 $ 85 $ 110 $ 1 $ 16 $ 32 0-30 days 1,584 448 585 321 262 45 24 134 30-60 days 216 69 67 44 23 9 1 18 60-90 days 65 18 20 14 6 2 1 5 90+ days 145 19 57 32 25 32 11 11 Trade and Other Receivables $ 2,726 $ 839 $ 924 $ 496 $ 426 $ 89 $ 53 $ 200 UNBILLED REVENUE Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas delivered but not yet billed. Unbilled revenues can vary significantly from period to period as a result of seasonality, weather, customer usage patterns, customer mix, average price in effect for customer classes, timing of rendering customer bills and meter reading schedules and the impact of weather normalization or margin decoupling mechanisms. Unbilled revenues are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets as shown in the following table. (in millions) March 31, 2020 December 31, 2019 Duke Energy $ 716 $ 843 Duke Energy Carolinas 285 298 Progress Energy 195 217 Duke Energy Progress 85 122 Duke Energy Florida 110 95 Duke Energy Ohio 1 1 Duke Energy Indiana 16 16 Piedmont 32 78 Additionally, Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, CRC, and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Condensed Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 11 for further information. These receivables for unbilled revenues are shown in the table below. (in millions) March 31, 2020 December 31, 2019 Duke Energy Ohio $ 61 $ 82 Duke Energy Indiana 94 115 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Stockholders' Equity | STOCKHOLDERS' EQUITY Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the diluted weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as stock options and equity forward sale agreements, were exercised or settled. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common stock during the restricted stock unit’s vesting periods. Dividends declared on preferred stock are recorded on the Condensed Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are an adjustment to net income used in the calculation of basic and diluted EPS. The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared. Three Months Ended March 31, (in millions, except per share amounts) 2020 2019 Income from continuing operations available to Duke Energy common stockholders excluding impact of participating securities and including accumulated preferred stock dividends adjustment $ 911 $ 898 Weighted average common shares outstanding – basic 734 727 Equity forwards 2 — Weighted average common shares outstanding – diluted 736 727 EPS from continuing operations available to Duke Energy common stockholders Basic and diluted $ 1.24 $ 1.24 Potentially dilutive items excluded from the calculation (a) 2 2 Dividends declared per common share $ 0.945 $ 0.9275 Dividends declared on Series A preferred stock per depositary share (b) $ 0.359 $ — Dividends declared on Series B preferred stock per share (c) $ 24.917 $ — (a) Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met. (b) 5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share. (c) 4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share. Common Stock In November 2019, Duke Energy filed a prospectus supplement and executed an Equity Distribution Agreement (EDA) under which it may sell up to $1.5 billion of its common stock through an at-the-market (ATM) offering program, including an equity forward sales component. Under the terms of the EDA, Duke Energy may issue and sell shares of common stock through September 2022. In March 2020, Duke Energy marketed approximately 940,000 shares of common stock through an equity forward transaction under the ATM with an initial forward price of $89.76 per share. Separately, in November 2019, Duke Energy marketed an equity offering of 28.75 million shares of common stock through an Underwriting Agreement. In connection with the offering, Duke Energy entered into an equity forward sales agreement with an initial forward price of $85.99 per share. The equity forward sales agreements require Duke Energy to either physically settle the transaction by issuing shares in exchange for net proceeds at the then-applicable forward sale price specified by the agreement, or net settle in whole or in part through the delivery or receipt of cash or shares. The settlement alternatives are at Duke Energy's election. Settlement of the forward sales agreements are expected to occur on or prior to December 31, 2020. Until settlement of the equity forwards, EPS dilution resulting from the agreements, if any, will be determined under the treasury stock method. |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Mar. 31, 2020 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS DEFINED BENEFIT RETIREMENT PLANS Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified and non-qualified, non-contributory defined benefit retirement plans. 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. QUALIFIED PENSION PLANS The following tables include the components of net periodic pension costs for qualified pension plans. Three Months Ended March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 41 $ 12 $ 12 $ 6 $ 5 $ 1 $ 2 $ 1 Interest cost on projected benefit obligation 67 16 21 10 12 4 6 2 Expected return on plan assets (143 ) (36 ) (48 ) (22 ) (25 ) (7 ) (11 ) (5 ) Amortization of actuarial loss 34 7 11 5 6 2 3 2 Amortization of prior service credit (8 ) (2 ) (1 ) — — — — (2 ) Amortization of settlement charges 2 1 1 — — — — — Net periodic pension costs $ (7 ) $ (2 ) $ (4 ) $ (1 ) $ (2 ) $ — $ — $ (2 ) Three Months Ended March 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 37 $ 12 $ 11 $ 6 $ 4 $ 1 $ 2 $ 1 Interest cost on projected benefit obligation 83 20 26 12 14 5 6 3 Expected return on plan assets (143 ) (38 ) (44 ) (23 ) (22 ) (8 ) (11 ) (5 ) Amortization of actuarial loss 24 6 9 3 6 1 2 2 Amortization of prior service credit (8 ) (2 ) (1 ) — — — — (3 ) Net periodic pension costs $ (7 ) $ (2 ) $ 1 $ (2 ) $ 2 $ (1 ) $ (1 ) $ (2 ) NON-QUALIFIED PENSION PLANS Net periodic pension costs for non-qualified pension plans were not material for the three months ended March 31, 2020, and 2019. OTHER POST-RETIREMENT BENEFIT PLANS Net periodic costs for other post-retirement benefit plans were not material for the three months ended March 31, 2020, and 2019. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES EFFECTIVE TAX RATES The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table. Three Months Ended March 31, 2020 2019 Duke Energy 13.3 % 9.6 % Duke Energy Carolinas 16.1 % 17.7 % Progress Energy 17.5 % 17.3 % Duke Energy Progress 17.1 % 17.8 % Duke Energy Florida 20.0 % 19.3 % Duke Energy Ohio 17.7 % 16.9 % Duke Energy Indiana 20.8 % 24.1 % Piedmont 10.1 % 21.8 % The increase in the ETR for Duke Energy for the three months ended March 31, 2020 , was primarily due to an adjustment related to the income tax recognition for equity method investments recorded in the first quarter of 2019, partially offset by an increase in the amortization of excess deferred taxes. The equity method investment adjustment was immaterial and relates to prior years. The decrease in the ETR for Duke Energy Carolinas for the three months ended March 31, 2020 , was primarily due to an increase in the amortization of excess deferred taxes. The decrease in the ETR for Duke Energy Indiana for the three months ended March 31, 2020, was primarily due to an increase in the amortization of excess deferred taxes. The decrease in the ETR for Piedmont for the three months ended March 31, 2020, was primarily due to an increase in the amortization of excess deferred taxes. OTHER TAX MATTERS On March 27, 2020, the CARES Act was enacted. The CARES Act is an emergency economic stimulus package in response to the COVID-19 pandemic. Among other provisions, the CARES Act accelerates the remaining AMT credit refund allowances resulting in taxpayers being able to immediately claim a refund in full for any AMT credit carryforwards. As a result, the remaining AMT credit carryforwards have been reclassified to a current receivable included in Other within Current Assets on the Condensed Consolidated Balance Sheets as of March 31, 2020. The total income tax receivable related to AMT credit carryforwards is approximately $572 million . The other provisions within the CARES Act do not materially impact Duke Energy's income tax accounting. See Note 1 for information on COVID-19. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS For information on subsequent events related to regulatory matters, commitments and contingencies and derivatives and hedging, see Notes 3, 4 and 8. |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2020 | |
Policy Text Block [Line Items] | |
Basis of Presentation | BASIS OF PRESENTATION These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these Condensed Consolidated Financial Statements do not include all information and notes required by GAAP for annual financial statements and should be read in conjunction with the Consolidated Financial Statements in the Duke Energy Registrants’ combined Annual Report on Form 10-K for the year ended December 31, 2019 . The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Condensed Consolidated Financial Statements. However, none of the registrants make any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself. These Condensed Consolidated Financial Statements, in the opinion of the respective companies’ management, reflect all normal recurring adjustments necessary to fairly present the financial position and results of operations of each of the Duke Energy Registrants. Amounts reported in Duke Energy’s interim Condensed Consolidated Statements of Operations and each of the Subsidiary Registrants’ interim Condensed Consolidated Statements of Operations and Comprehensive Income are not necessarily indicative of amounts expected for the respective annual periods due to effects of seasonal temperature variations on energy consumption, regulatory rulings, timing of maintenance on electric generating units, changes in mark-to-market valuations, changing commodity prices and other factors. In preparing financial statements that conform to GAAP, management 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. |
Basis of Consolidation and Noncontrolling Interest | BASIS OF CONSOLIDATION These Condensed Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 11 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. COVID-19 The COVID-19 pandemic is having a significant impact on global health and economic environments. In March 2020, the World Health Organization (WHO) declared COVID-19 a global pandemic, and President Trump proclaimed that the COVID-19 outbreak in the United States constitutes a national emergency. The COVID-19 pandemic has not had a material financial impact on the Duke Energy Registrants as of March 31, 2020; however, the extent to which the COVID-19 pandemic will impact the Duke Energy Registrants during 2020 and beyond is uncertain at this time. The Duke Energy Registrants are monitoring developments closely. See Notes 3 , 5 , 11 , 12 and 15 for information on COVID-19 and steps taken to mitigate the impacts to our business and customers. NONCONTROLLING INTEREST Duke Energy maintains a controlling financial interest in certain less than wholly owned nonregulated subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Condensed Consolidated Balance Sheet. Several operating agreements of Duke Energy's subsidiaries with noncontrolling interest are subject to allocations of earnings, tax attributes and cash flows in accordance with contractual agreements that vary throughout the lives of the subsidiaries. Therefore, Duke Energy and the other investors' (the owners) interests in the subsidiaries are not fixed, and the subsidiaries apply the Hypothetical Liquidation at Book Value (HLBV) method in allocating income or loss and other comprehensive income or loss (all measured on a pretax basis) to the owners. The HLBV method measures the amounts that each owner would hypothetically claim at each balance sheet reporting date, including tax benefits realized by the owners, upon a hypothetical liquidation of the subsidiary at the net book value of its underlying assets. The change in the amount that each owner would hypothetically receive at the reporting date compared to the amount it would have received on the previous reporting date represents the amount of income or loss allocated to each owner for the reporting period. Duke Energy has received $103 million for the sale of noncontrolling interests to tax equity members for the three months ended March 31, 2020 . Duke Energy allocated approximately $49 million and $7 million of losses to noncontrolling tax equity members utilizing the HLBV method for the three months ended March 31, 2020 , and March 31, 2019 , respectively. Other operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares . |
Cash, Cash Equivalents, and Restricted Cash | CASH, CASH EQUIVALENTS AND RESTRICTED CASH Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Note 11 |
New Accounting Standards | NEW ACCOUNTING STANDARDS The following new accounting standard was adopted by the Duke Energy Registrants in 2020 . Current Expected Credit Losses. In June 2016, the FASB issued new accounting guidance for credit losses. Duke Energy adopted the new accounting guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year results. Duke Energy did not adopt any practical expedients. Duke Energy recognizes allowances for credit losses based on management's estimate of losses expected to be incurred over the lives of certain assets or guarantees. Management monitors credit quality, changes in expected credit losses and the appropriateness of the allowance for credit losses on a forward-looking basis. Management reviews the risk of loss periodically as part of the existing assessment of collectability of receivables. Duke Energy reviews the credit quality of its counterparties as part of its regular risk management process and requires credit enhancements, such as deposits or letters of credit, as appropriate and as allowed by regulators. Duke Energy recorded cumulative effects of changes in accounting principles related to the adoption of new credit loss standard, for allowances for credit losses of trade and other receivables, insurance receivables and financial guarantees. These amounts are included in the Condensed Consolidated Balance Sheets in Receivables, Receivables of VIEs, Other Noncurrent Assets and Other Noncurrent Liabilities. See Notes 4 and 12 for more information. Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below: January 1, 2020 Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Piedmont Total pretax impact to Retained Earnings $ 120 $ 16 $ 2 $ 1 $ 1 $ 1 The following new accounting standard has been issued but not yet adopted by the Duke Energy Registrants as of March 31, 2020 . Reference Rate Reform. In March 2020, the FASB issued new accounting guidance for reference rate reform. This guidance is elective and provides expedients to facilitate financial reporting for the anticipated transition away from the London Inter-bank Offered Rate (LIBOR) and other interbank reference rates by the end of 2021. The optional expedients are effective for modification of existing contracts or new arrangements executed between March 12, 2020, through December 31, 2022. Duke Energy has variable-rate debt and manages interest rate risk by entering into financial contracts including interest rate swaps that are generally indexed to LIBOR. Impacted financial arrangements extending beyond 2021 may require contractual amendment or termination to fully adapt to a post-LIBOR environment. Duke Energy is assessing these financial arrangements and is evaluating the use of optional expedients outlined in the new accounting guidance. Alternative index provisions are also being assessed and incorporated into new financial arrangements that extend beyond 2021. |
Environmental Costs | Liabilities are recorded when losses become probable and are reasonably estimable.Costs are typically expensed as Operation, maintenance and other on the Condensed Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable. |
Derivatives | For the Subsidiary Registrants, bulk power electricity and coal and natural gas purchases flow through fuel adjustment clauses, formula-based contracts or other cost-sharing mechanisms. Differences between the costs included in rates and the incurred costs, including undesignated derivative contracts, are largely deferred as regulatory assets or regulatory liabilities. Duke Energy’s interest rate swaps for its regulated operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense on the Duke Energy Registrant's Condensed Consolidated Statements of Operations and Comprehensive Income. |
Investments | Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment has a credit loss. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value is related to a credit loss. If an credit loss exists, the unrealized credit loss is included in earnings.As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt securities within the Investment Trusts are recognized immediately and deferred to regulatory accounts where appropriate. |
Revenue from Contract with Customer | UNBILLED REVENUE Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas delivered but not yet billed. Unbilled revenues can vary significantly from period to period as a result of seasonality, weather, customer usage patterns, customer mix, average price in effect for customer classes, timing of rendering customer bills and meter reading schedules and the impact of weather normalization or margin decoupling mechanisms. |
Earnings Per Share | Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the diluted weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as stock options and equity forward sale agreements, were exercised or settled. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common stock during the restricted stock unit’s vesting periods. Dividends declared on preferred stock are recorded on the Condensed Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are an adjustment to net income used in the calculation of basic and diluted EPS. |
Organization and Basis of Pre_3
Organization and Basis of Presentation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Cash, Cash Equivalents and Restricted Cash | The following table presents the components of cash, cash equivalents and restricted cash included in the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 Duke Duke Duke Progress Energy Duke Progress Energy Energy Energy Florida Energy Energy Florida Current Assets Cash and cash equivalents $ 1,450 $ 52 $ 12 $ 311 $ 48 $ 17 Other 185 13 13 222 39 39 Other Noncurrent Assets Other 63 60 — 40 39 — Total cash, cash equivalents and restricted cash $ 1,698 $ 125 $ 25 $ 573 $ 126 $ 56 |
Schedule of Utility Inventory | The components of inventory are presented in the tables below. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,280 $ 759 $ 1,018 $ 678 $ 340 $ 83 $ 319 $ 5 Coal 742 268 246 167 79 10 218 — Natural gas, oil and other fuel 302 40 199 111 89 28 1 34 Total inventory $ 3,324 $ 1,067 $ 1,463 $ 956 $ 508 $ 121 $ 538 $ 39 December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Materials and supplies $ 2,297 $ 768 $ 1,038 $ 686 $ 351 $ 79 $ 318 $ 5 Coal 586 187 186 138 48 15 198 — Natural gas, oil and other fuel 349 41 199 110 90 41 1 67 Total inventory $ 3,232 $ 996 $ 1,423 $ 934 $ 489 $ 135 $ 517 $ 72 |
Schedule of New Accounting Pronouncements | Duke Energy recorded an adjustment for the cumulative effect of a change in accounting principle due to the adoption of this standard on January 1, 2020, as shown in the table below: January 1, 2020 Duke Duke Duke Duke Energy Progress Energy Energy (in millions) Energy Carolinas Energy Progress Florida Piedmont Total pretax impact to Retained Earnings $ 120 $ 16 $ 2 $ 1 $ 1 $ 1 |
Business Segments (Tables)
Business Segments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Segment Reporting Information [Line Items] | |
Business Segment Data | Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets. Three Months Ended March 31, 2020 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 5,174 $ 640 $ 129 $ 5,943 $ 6 $ — $ 5,949 Intersegment revenues 9 24 — 33 17 (50 ) — Total revenues $ 5,183 $ 664 $ 129 $ 5,976 $ 23 $ (50 ) $ 5,949 Segment income (loss) (a) $ 705 $ 249 $ 57 $ 1,011 $ (112 ) $ — $ 899 Add: Noncontrolling interests (b) (48 ) Add: Preferred stock dividend 39 Net income $ 890 Segment assets $ 134,838 $ 14,098 $ 6,184 $ 155,120 $ 4,964 $ (12 ) $ 160,072 Three Months Ended March 31, 2019 Electric Gas Total Utilities and Utilities and Commercial Reportable (in millions) Infrastructure Infrastructure Renewables Segments Other Eliminations Total Unaffiliated revenues $ 5,321 $ 732 $ 106 $ 6,159 $ 4 $ — $ 6,163 Intersegment revenues 8 24 — 32 17 (49 ) — Total revenues $ 5,329 $ 756 $ 106 $ 6,191 $ 21 $ (49 ) $ 6,163 Segment income (loss) $ 750 $ 226 $ 13 $ 989 $ (89 ) $ — $ 900 Add: Noncontrolling interests (b) (7 ) Net income $ 893 (a) Other includes a $98 million reversal, included in Operations, maintenance and other on the Condensed Consolidated Statements of Operations, of 2018 severance costs due to the partial settlement of the Duke Energy Carolina's 2019 North Carolina rate case. See Note 3 for additional information. (b) Includes the allocation of losses to noncontrolling tax equity members. See Note 1 for additional information. |
Duke Energy Ohio | |
Segment Reporting Information [Line Items] | |
Business Segment Data | Three Months Ended March 31, 2020 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Eliminations Total Total revenues $ 346 $ 152 $ 498 $ — $ — $ 498 Segment income/Net (loss) income $ 30 $ 36 $ 66 $ (1 ) $ — $ 65 Segment assets $ 6,238 $ 3,135 $ 9,373 $ 26 $ (2 ) $ 9,397 Three Months Ended March 31, 2019 Electric Gas Total Utilities and Utilities and Reportable (in millions) Infrastructure Infrastructure Segments Other Total Total revenues $ 355 $ 176 $ 531 $ — $ 531 Segment income/Net (loss) income $ 36 $ 35 $ 71 $ (2 ) $ 69 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Regulated Operations [Abstract] | |
Schedule of Potential Plant Retirements | The table below contains the net carrying value of generating facilities planned for retirement or included in recent IRPs as evaluated for potential retirement. Dollar amounts in the table below are included in Net property, plant and equipment on the Condensed Consolidated Balance Sheets as of March 31, 2020 , and exclude capitalized asset retirement costs. Remaining Net Capacity Book Value (in MW) (in millions) Duke Energy Carolinas Allen Steam Station Units 1-3 (a) 585 $ 149 Duke Energy Indiana Gallagher Units 2 and 4 (b) 280 118 Gibson Units 1-5 (c) 3,132 1,708 Cayuga Units 1-2 (c) 1,005 964 Total Duke Energy 5,002 $ 2,939 (a) Duke Energy Carolinas will retire Allen Steam Station Units 1 through 3 by December 31, 2024, as part of the resolution of a lawsuit involving alleged New Source Review violations. (b) Duke Energy Indiana committed to either retire or stop burning coal at Gallagher Units 2 and 4 by December 31, 2022, as part of the 2016 settlement of Edwardsport IGCC matters. (c) On July 1, 2019, Duke Energy Indiana filed its 2018 IRP with the IURC. The 2018 IRP included scenarios evaluating the potential retirement of coal-fired generating units at Gibson and Cayuga. The rate case filed July 2, 2019, includes proposed depreciation rates reflecting retirement dates from 2026 to 2038. |
Commitments and Contingencies (
Commitments and Contingencies (Table) | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Reserves | The table below presents recorded reserves based on management’s best estimate of probable loss for legal matters, excluding asbestos-related reserves discussed above. Reserves are classified on the Condensed Consolidated Balance Sheets in Other within Other Noncurrent Liabilities and Other within Current Liabilities. The reasonably possible range of loss in excess of recorded reserves is not material, other than as described above. (in millions) March 31, 2020 December 31, 2019 Reserves for Legal Matters Duke Energy $ 61 $ 62 Duke Energy Carolinas 3 2 Progress Energy 52 55 Duke Energy Progress 9 12 Duke Energy Florida 23 22 Piedmont 1 1 The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Accounts Payable within Current Liabilities and Other within Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets. Three Months Ended March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Balance at beginning of period $ 58 $ 11 $ 16 $ 4 $ 9 $ 19 $ 4 $ 8 Provisions/adjustments 3 — — 1 — 1 1 — Cash reductions (3 ) (1 ) (1 ) — — (1 ) — — Balance at end of period $ 58 $ 10 $ 15 $ 5 $ 9 $ 19 $ 5 $ 8 |
Schedule of Additional Possible Losses in Excess of Recorded Environmental Reserves | Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material except as presented in the table below. (in millions) Duke Energy $ 58 Duke Energy Carolinas 11 Duke Energy Ohio 41 Piedmont 2 |
Debt and Credit Facilities (Tab
Debt and Credit Facilities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | The following table summarizes significant debt issuances (in millions). Three Months Ended March 31, 2020 Duke Duke Duke Maturity Interest Duke Energy Energy Energy Issuance Date Date Rate Energy (Parent) Carolinas Indiana Unsecured Debt March 2020 (a) March 2021 1.400 % (b) $ 1,688 $ 1,688 $ — $ — First Mortgage Bonds January 2020 (c) February 2030 2.450 % 500 — 500 — January 2020 (c) August 2049 3.200 % 400 — 400 — March 2020 (d) April 2050 2.750 % 550 — — 550 Total issuances $ 3,138 $ 1,688 $ 900 $ 550 (a) Debt issued in response to market volatility concerns related to the COVID-19 pandemic. Refer to Note 1 for additional information on the COVID-19 pandemic. Proceeds will be used to reduce outstanding commercial paper and for general corporate purposes. (b) Debt issuance has a floating interest rate. (c) Debt issued to repay at maturity $450 million first mortgage bonds due June 2020 and for general corporate purposes. (d) Debt issued to repay at maturity $500 million first mortgage bonds due July 2020 and to pay down short-term debt. The following table shows the significant components of Current Maturities of Long-Term Debt on the Condensed 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 March 31, 2020 Unsecured Debt Duke Energy (Parent) June 2020 2.100 % $ 330 Duke Energy Progress December 2020 2.292 % (a) 700 Progress Energy, Inc January 2021 4.400 % 500 Duke Energy (Parent) March 2021 1.400 % (a) 1,688 First Mortgage Bonds Duke Energy Florida April 2020 4.550 % 250 Duke Energy Carolinas June 2020 4.300 % 450 Duke Energy Indiana July 2020 3.750 % 500 Duke Energy Progress September 2020 1.076 % (a) 300 Other (b) 359 Current maturities of long-term debt $ 5,077 (a) Debt issuance has a floating interest rate. (b) Includes finance lease obligations, amortizing debt and small bullet maturities. |
Schedule Of Line Of Credit Facilities | The table below includes the current borrowing sublimits and available capacity under these credit facilities. March 31, 2020 Duke Duke Duke Duke Duke Duke Duke Energy Energy Energy Energy Energy Energy (in millions) Energy (Parent) Carolinas Progress Florida Ohio Indiana Piedmont Facility size (a) $ 8,000 $ 2,650 $ 1,500 $ 1,250 $ 800 $ 600 $ 600 $ 600 Reduction to backstop issuances Commercial paper (b) (2,540 ) (1,140 ) (300 ) (275 ) (167 ) (243 ) (150 ) (265 ) Outstanding letters of credit (49 ) (42 ) (4 ) (2 ) — — — (1 ) Tax-exempt bonds (81 ) — — — — — (81 ) — Coal ash set-aside (500 ) — (250 ) (250 ) — — — — Available capacity under the Master Credit Facility $ 4,830 $ 1,468 $ 946 $ 723 $ 633 $ 357 $ 369 $ 334 (a) Represents the sublimit of each borrower. (b) Duke Energy issued $625 million Other Credit Facilities March 31, 2020 (in millions) Facility size Amount drawn Duke Energy (Parent) Three-Year Revolving Credit Facility (a) $ 1,000 $ 1,000 Duke Energy Progress Term Loan Facility 700 700 (a) In March 2020, Duke Energy (Parent) drew down the remaining $500 million . |
Goodwill (Tables)
Goodwill (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill By Reportable Operating Segment | The following table presents the goodwill by reportable segment included on Duke Energy's Condensed Consolidated Balance Sheets at March 31, 2020 , and December 31, 2019 . Electric Utilities Gas Utilities Commercial (in millions) and Infrastructure and Infrastructure Renewables Total Goodwill balance $ 17,379 $ 1,924 $ 122 $ 19,425 Accumulated impairment charges — — (122 ) (122 ) Goodwill, adjusted for accumulated impairment charges $ 17,379 $ 1,924 $ — $ 19,303 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions, Other Revenue and Expense | The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants. Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Carolinas Energy Progress Florida Ohio Indiana Piedmont March 31, 2020 Intercompany income tax receivable $ — $ 114 $ 1 $ 4 $ — $ — $ — Intercompany income tax payable 44 — — — — 6 10 December 31, 2019 Intercompany income tax receivable $ — $ 125 $ 28 $ — $ 9 $ 28 $ 13 Intercompany income tax payable 5 — — 2 — — — Three Months Ended March 31, (in millions) 2020 2019 Duke Energy Carolinas Corporate governance and shared service expenses (a) $ 134 $ 212 Indemnification coverages (b) 5 5 Joint Dispatch Agreement (JDA) revenue (c) 7 23 JDA expense (c) 24 93 Intercompany natural gas purchases (d) 6 4 Progress Energy Corporate governance and shared service expenses (a) $ 146 $ 176 Indemnification coverages (b) 9 9 JDA revenue (c) 24 93 JDA expense (c) 7 23 Intercompany natural gas purchases (d) 19 19 Duke Energy Progress Corporate governance and shared service expenses (a) $ 75 $ 106 Indemnification coverages (b) 4 4 JDA revenue (c) 24 93 JDA expense (c) 7 23 Intercompany natural gas purchases (d) 19 19 Duke Energy Florida Corporate governance and shared service expenses (a) $ 71 $ 70 Indemnification coverages (b) 5 5 Duke Energy Ohio Corporate governance and shared service expenses (a) $ 84 $ 85 Indemnification coverages (b) 1 1 Duke Energy Indiana Corporate governance and shared service expenses (a) $ 106 $ 97 Indemnification coverages (b) 2 2 Piedmont Corporate governance and shared service expenses (a) $ 34 $ 32 Indemnification coverages (b) 1 1 Intercompany natural gas sales (d) 25 23 Natural gas storage and transportation costs (e) 6 5 (a) The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other on the Condensed 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 Condensed Consolidated Statements of Operations and Comprehensive Income. (c) Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income. (d) Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Condensed Consolidated Statements of Operations and Comprehensive Income. (e) |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts of Outstanding Derivative Positions | The following table shows notional amounts of outstanding derivatives related to interest rate risk. March 31, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 991 $ — $ — $ — $ — $ — Undesignated contracts 2,027 400 1,600 1,050 550 27 Total notional amount (a) $ 3,018 $ 400 $ 1,600 $ 1,050 $ 550 $ 27 December 31, 2019 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Cash flow hedges $ 993 $ — $ — $ — $ — $ — Undesignated contracts 1,277 450 800 250 550 27 Total notional amount (a) $ 2,270 $ 450 $ 800 $ 250 $ 550 $ 27 (a) Duke Energy includes amounts related to consolidated VIEs of $691 million in cash flow hedges as of March 31, 2020 , and $693 million in cash flow hedges as of December 31, 2019 . The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 6,737 — — — — 977 5,760 — Natural gas (millions of dekatherms) 709 145 158 158 — — 4 402 December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electricity (GWh) 15,858 — — — — 1,887 13,971 — Natural gas (millions of dekatherms) 704 130 160 160 — — 3 411 |
Location And Fair Value Of Derivatives Recognized in the Condensed Consolidated Balance Sheets | The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Condensed Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown. Derivative Assets March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 6 $ — $ — $ — $ — $ — $ 2 $ 3 Noncurrent 4 2 1 1 — 1 — — Total Derivative Assets – Commodity Contracts $ 10 $ 2 $ 1 $ 1 $ — $ 1 $ 2 $ 3 Interest Rate Contracts Not Designated as Hedging Instruments Current $ 3 $ — $ 3 $ 3 $ — $ — $ — $ — Noncurrent 1 — 1 1 — — — — Total Derivative Assets – Interest Rate Contracts $ 4 $ — $ 4 $ 4 $ — $ — $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Noncurrent (a) 20 — 20 — 20 — — — Total Derivative Assets – Equity Securities Contracts $ 20 $ — $ 20 $ — $ 20 $ — $ — $ — Total Derivative Assets $ 34 $ 2 $ 25 $ 5 $ 20 $ 1 $ 2 $ 3 (a) Equity security contracts are current since they were set to expire in May 2020 but are classified as noncurrent assets on the Condensed Consolidated Balance Sheet because the amount is presented within the NDTF. Derivative Liabilities March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 79 $ 40 $ 31 $ 31 $ — $ — $ — $ 8 Noncurrent 130 11 35 20 — — — 83 Total Derivative Liabilities – Commodity Contracts $ 209 $ 51 $ 66 $ 51 $ — $ — $ — $ 91 Interest Rate Contracts Designated as Hedging Instruments Current $ 69 $ — $ — $ — $ — $ — $ — $ — Noncurrent 54 — — — — — — — Not Designated as Hedging Instruments Current 30 — 29 — 29 1 — — Noncurrent 28 23 — — — 6 — — Total Derivative Liabilities – Interest Rate Contracts $ 181 $ 23 $ 29 $ — $ 29 $ 7 $ — $ — Total Derivative Liabilities $ 390 $ 74 $ 95 $ 51 $ 29 $ 7 $ — $ 91 Derivative Assets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 17 $ — $ — $ — $ — $ 3 $ 13 $ 1 Noncurrent 1 — — — — 1 — — Total Derivative Assets – Commodity Contracts $ 18 $ — $ — $ — $ — $ 4 $ 13 $ 1 Interest Rate Contracts Not Designated as Hedging Instruments Current 6 — 6 — 6 — — — Total Derivative Assets – Interest Rate Contracts $ 6 $ — $ 6 $ — $ 6 $ — $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 1 — 1 — 1 — — — Total Derivative Assets – Equity Securities Contracts $ 1 $ — $ 1 $ — $ 1 $ — $ — $ — Total Derivative Assets $ 25 $ — $ 7 $ — $ 7 $ 4 $ 13 $ 1 Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Commodity Contracts Not Designated as Hedging Instruments Current $ 67 $ 33 $ 26 $ 26 $ — $ — $ 1 $ 7 Noncurrent 156 10 37 22 — — — 110 Total Derivative Liabilities – Commodity Contracts $ 223 $ 43 $ 63 $ 48 $ — $ — $ 1 $ 117 Interest Rate Contracts Designated as Hedging Instruments Current $ 19 $ — $ — $ — $ — $ — $ — $ — Noncurrent 21 — — — — — — — Not Designated as Hedging Instruments Current 8 6 1 1 — 1 — — Noncurrent 5 — — — — 5 — — Total Derivative Liabilities – Interest Rate Contracts $ 53 $ 6 $ 1 $ 1 $ — $ 6 $ — $ — Equity Securities Contracts Not Designated as Hedging Instruments Current 24 — 24 — 24 — — — Total Derivative Liabilities – Equity Securities Contracts $ 24 $ — $ 24 $ — $ 24 $ — $ — $ — Total Derivative Liabilities $ 300 $ 49 $ 88 $ 49 $ 24 $ 6 $ 1 $ 117 |
Offsetting Assets | The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position, and include collateral posted to offset the net position. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below. Derivative Assets March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 9 $ — $ 3 $ 3 $ — $ — $ 2 $ 3 Gross amounts offset — — — — — — — — Net amounts presented in Current Assets: Other $ 9 $ — $ 3 $ 3 $ — $ — $ 2 $ 3 Noncurrent Gross amounts recognized $ 25 $ 2 $ 22 $ 2 $ 20 $ 1 $ — $ — Gross amounts offset (3 ) (2 ) (1 ) (1 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 2 $ — $ 1 $ 1 $ — $ 1 $ — $ — Net amounts presented in NDTF $ 20 $ — $ 20 $ — $ 20 $ — $ — $ — Derivative Liabilities March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 178 $ 40 $ 60 $ 31 $ 29 $ 1 $ — $ 8 Gross amounts offset — — — — — — — — Net amounts presented in Current Liabilities: Other $ 178 $ 40 $ 60 $ 31 $ 29 $ 1 $ — $ 8 Noncurrent Gross amounts recognized $ 212 $ 34 $ 35 $ 20 $ — $ 6 $ — $ 83 Gross amounts offset (3 ) (2 ) (1 ) (1 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 209 $ 32 $ 34 $ 19 $ — $ 6 $ — $ 83 Derivative Assets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 24 $ — $ 7 $ — $ 7 $ 3 $ 13 $ 1 Gross amounts offset (1 ) — (1 ) — (1 ) — — — Net amounts presented in Current Assets: Other $ 23 $ — $ 6 $ — $ 6 $ 3 $ 13 $ 1 Noncurrent Gross amounts recognized $ 1 $ — $ — $ — $ — $ 1 $ — $ — Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Assets: Other $ 1 $ — $ — $ — $ — $ 1 $ — $ — Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 118 $ 39 $ 51 $ 27 $ 24 $ 1 $ 1 $ 7 Gross amounts offset (24 ) — (24 ) — (24 ) — — — Net amounts presented in Current Liabilities: Other $ 94 $ 39 $ 27 $ 27 $ — $ 1 $ 1 $ 7 Noncurrent Gross amounts recognized $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 |
Offsetting Liabilities | Derivative Assets March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 9 $ — $ 3 $ 3 $ — $ — $ 2 $ 3 Gross amounts offset — — — — — — — — Net amounts presented in Current Assets: Other $ 9 $ — $ 3 $ 3 $ — $ — $ 2 $ 3 Noncurrent Gross amounts recognized $ 25 $ 2 $ 22 $ 2 $ 20 $ 1 $ — $ — Gross amounts offset (3 ) (2 ) (1 ) (1 ) — — — — Net amounts presented in Other Noncurrent Assets: Other $ 2 $ — $ 1 $ 1 $ — $ 1 $ — $ — Net amounts presented in NDTF $ 20 $ — $ 20 $ — $ 20 $ — $ — $ — Derivative Liabilities March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 178 $ 40 $ 60 $ 31 $ 29 $ 1 $ — $ 8 Gross amounts offset — — — — — — — — Net amounts presented in Current Liabilities: Other $ 178 $ 40 $ 60 $ 31 $ 29 $ 1 $ — $ 8 Noncurrent Gross amounts recognized $ 212 $ 34 $ 35 $ 20 $ — $ 6 $ — $ 83 Gross amounts offset (3 ) (2 ) (1 ) (1 ) — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 209 $ 32 $ 34 $ 19 $ — $ 6 $ — $ 83 Derivative Assets December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 24 $ — $ 7 $ — $ 7 $ 3 $ 13 $ 1 Gross amounts offset (1 ) — (1 ) — (1 ) — — — Net amounts presented in Current Assets: Other $ 23 $ — $ 6 $ — $ 6 $ 3 $ 13 $ 1 Noncurrent Gross amounts recognized $ 1 $ — $ — $ — $ — $ 1 $ — $ — Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Assets: Other $ 1 $ — $ — $ — $ — $ 1 $ — $ — Derivative Liabilities December 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Current Gross amounts recognized $ 118 $ 39 $ 51 $ 27 $ 24 $ 1 $ 1 $ 7 Gross amounts offset (24 ) — (24 ) — (24 ) — — — Net amounts presented in Current Liabilities: Other $ 94 $ 39 $ 27 $ 27 $ — $ 1 $ 1 $ 7 Noncurrent Gross amounts recognized $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 Gross amounts offset — — — — — — — — Net amounts presented in Other Noncurrent Liabilities: Other $ 182 $ 10 $ 37 $ 22 $ — $ 5 $ — $ 110 |
Derivative Contracts with Contingent Credit Features | The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit-risk-related payment provisions. March 31, 2020 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 96 $ 45 $ 51 $ 51 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 96 45 51 51 December 31, 2019 Duke Duke Duke Energy Progress Energy (in millions) Energy Carolinas Energy Progress Aggregate fair value of derivatives in a net liability position $ 79 $ 35 $ 44 $ 44 Fair value of collateral already posted — — — — Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered 79 35 44 44 |
Investments in Debt and Equit_2
Investments in Debt and Equity Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Debt Securities, Available-for-sale [Line Items] | |
Debt Securities, Trading, and Equity Securities, FV-NI | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 119 $ — $ — $ 101 Equity securities 2,499 170 4,488 3,523 55 5,661 Corporate debt securities 26 16 642 37 1 603 Municipal bonds 10 2 404 13 — 368 U.S. government bonds 70 — 1,212 33 1 1,256 NDTF equity security contracts 20 — 20 — — — Other debt securities 4 3 163 3 — 141 Total NDTF Investments $ 2,629 $ 191 $ 7,048 $ 3,609 $ 57 $ 8,130 Other Investments Cash and cash equivalents $ — $ — $ 78 $ — $ — $ 52 Equity securities 31 1 95 57 — 122 Corporate debt securities — — 89 3 — 67 Municipal bonds 6 1 98 4 — 94 U.S. government bonds 5 — 51 2 — 41 Other debt securities — — 52 — — 56 Total Other Investments $ 42 $ 2 $ 463 $ 66 $ — $ 432 Total Investments $ 2,671 $ 193 $ 7,511 $ 3,675 $ 57 $ 8,562 |
Debt Securities, Available-for-sale | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 119 $ — $ — $ 101 Equity securities 2,499 170 4,488 3,523 55 5,661 Corporate debt securities 26 16 642 37 1 603 Municipal bonds 10 2 404 13 — 368 U.S. government bonds 70 — 1,212 33 1 1,256 NDTF equity security contracts 20 — 20 — — — Other debt securities 4 3 163 3 — 141 Total NDTF Investments $ 2,629 $ 191 $ 7,048 $ 3,609 $ 57 $ 8,130 Other Investments Cash and cash equivalents $ — $ — $ 78 $ — $ — $ 52 Equity securities 31 1 95 57 — 122 Corporate debt securities — — 89 3 — 67 Municipal bonds 6 1 98 4 — 94 U.S. government bonds 5 — 51 2 — 41 Other debt securities — — 52 — — 56 Total Other Investments $ 42 $ 2 $ 463 $ 66 $ — $ 432 Total Investments $ 2,671 $ 193 $ 7,511 $ 3,675 $ 57 $ 8,562 |
Investments Classified by Contractual Maturity Date | The table below summarizes the maturity date for debt securities. March 31, 2020 Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Indiana Due in one year or less $ 333 $ 25 $ 302 $ 26 $ 276 $ 3 Due after one through five years 538 234 236 227 9 17 Due after five through 10 years 465 188 214 207 7 7 Due after 10 years 1,375 734 541 506 35 16 Total $ 2,711 $ 1,181 $ 1,293 $ 966 $ 327 $ 43 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 23 $ 35 Realized losses 65 30 AFS: Realized gains 20 10 Realized losses 6 11 |
Duke Energy Carolinas | |
Debt Securities, Available-for-sale [Line Items] | |
Debt Securities, Trading, and Equity Securities, FV-NI | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 33 $ — $ — $ 21 Equity securities 1,355 81 2,498 1,914 8 3,154 Corporate debt securities 15 12 392 21 1 361 Municipal bonds 3 1 128 3 — 96 U.S. government bonds 35 — 502 16 1 578 Other debt securities 3 3 159 3 — 137 Total NDTF Investments $ 1,411 $ 97 $ 3,712 $ 1,957 $ 10 $ 4,347 |
Debt Securities, Available-for-sale | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 33 $ — $ — $ 21 Equity securities 1,355 81 2,498 1,914 8 3,154 Corporate debt securities 15 12 392 21 1 361 Municipal bonds 3 1 128 3 — 96 U.S. government bonds 35 — 502 16 1 578 Other debt securities 3 3 159 3 — 137 Total NDTF Investments $ 1,411 $ 97 $ 3,712 $ 1,957 $ 10 $ 4,347 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 9 $ 23 Realized losses 45 21 AFS: Realized gains 12 9 Realized losses 5 10 |
Progress Energy | |
Debt Securities, Available-for-sale [Line Items] | |
Debt Securities, Trading, and Equity Securities, FV-NI | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 86 $ — $ — $ 80 Equity securities 1,144 89 1,990 1,609 47 2,507 Corporate debt securities 11 4 250 16 — 242 Municipal bonds 7 1 276 10 — 272 U.S. government bonds 35 — 710 17 — 678 NDTF equity security contracts 20 — 20 — — — Other debt securities 1 — 4 — — 4 Total NDTF Investments $ 1,218 $ 94 $ 3,336 $ 1,652 $ 47 $ 3,783 Other Investments Cash and cash equivalents $ — $ — $ 69 $ — $ — $ 49 Municipal bonds 5 — 53 3 — 51 Total Other Investments $ 5 $ — $ 122 $ 3 $ — $ 100 Total Investments $ 1,223 $ 94 $ 3,458 $ 1,655 $ 47 $ 3,883 |
Debt Securities, Available-for-sale | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 86 $ — $ — $ 80 Equity securities 1,144 89 1,990 1,609 47 2,507 Corporate debt securities 11 4 250 16 — 242 Municipal bonds 7 1 276 10 — 272 U.S. government bonds 35 — 710 17 — 678 NDTF equity security contracts 20 — 20 — — — Other debt securities 1 — 4 — — 4 Total NDTF Investments $ 1,218 $ 94 $ 3,336 $ 1,652 $ 47 $ 3,783 Other Investments Cash and cash equivalents $ — $ — $ 69 $ — $ — $ 49 Municipal bonds 5 — 53 3 — 51 Total Other Investments $ 5 $ — $ 122 $ 3 $ — $ 100 Total Investments $ 1,223 $ 94 $ 3,458 $ 1,655 $ 47 $ 3,883 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 14 $ 12 Realized losses 20 9 AFS: Realized gains 5 1 Realized losses 1 1 |
Duke Energy Progress | |
Debt Securities, Available-for-sale [Line Items] | |
Debt Securities, Trading, and Equity Securities, FV-NI | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 51 $ — $ — $ 53 Equity securities 881 79 1,631 1,258 21 2,077 Corporate debt securities 11 4 250 16 — 242 Municipal bonds 7 1 276 10 — 272 U.S. government bonds 34 — 436 16 — 403 Other debt securities 1 — 4 — — 4 Total NDTF Investments $ 934 $ 84 $ 2,648 $ 1,300 $ 21 $ 3,051 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 2 Total Other Investments $ — $ — $ 2 $ — $ — $ 2 Total Investments $ 934 $ 84 $ 2,650 $ 1,300 $ 21 $ 3,053 |
Debt Securities, Available-for-sale | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 51 $ — $ — $ 53 Equity securities 881 79 1,631 1,258 21 2,077 Corporate debt securities 11 4 250 16 — 242 Municipal bonds 7 1 276 10 — 272 U.S. government bonds 34 — 436 16 — 403 Other debt securities 1 — 4 — — 4 Total NDTF Investments $ 934 $ 84 $ 2,648 $ 1,300 $ 21 $ 3,051 Other Investments Cash and cash equivalents $ — $ — $ 2 $ — $ — $ 2 Total Other Investments $ — $ — $ 2 $ — $ — $ 2 Total Investments $ 934 $ 84 $ 2,650 $ 1,300 $ 21 $ 3,053 |
Schedule of Realized Gain (Loss) | Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three months ended March 31, 2020 , and 2019 , were as follows. Three Months Ended (in millions) March 31, 2020 March 31, 2019 FV-NI: Realized gains $ 14 $ 10 Realized losses 20 8 AFS: Realized gains 5 1 Realized losses 1 1 |
Duke Energy Florida | |
Debt Securities, Available-for-sale [Line Items] | |
Debt Securities, Trading, and Equity Securities, FV-NI | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 35 $ — $ — $ 27 Equity securities 263 10 359 351 26 430 U.S. government bonds 1 — 274 1 — 275 NDTF equity security contracts 20 — 20 — — — Total NDTF Investments (a) $ 284 $ 10 $ 688 $ 352 $ 26 $ 732 Other Investments Cash and cash equivalents $ — $ — $ 3 $ — $ — $ 4 Municipal bonds 5 — 53 3 — 51 Total Other Investments $ 5 $ — $ 56 $ 3 $ — $ 55 Total Investments $ 289 $ 10 $ 744 $ 355 $ 26 $ 787 (a) During the three months ended March 31, 2020 , Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3. |
Debt Securities, Available-for-sale | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value NDTF Cash and cash equivalents $ — $ — $ 35 $ — $ — $ 27 Equity securities 263 10 359 351 26 430 U.S. government bonds 1 — 274 1 — 275 NDTF equity security contracts 20 — 20 — — — Total NDTF Investments (a) $ 284 $ 10 $ 688 $ 352 $ 26 $ 732 Other Investments Cash and cash equivalents $ — $ — $ 3 $ — $ — $ 4 Municipal bonds 5 — 53 3 — 51 Total Other Investments $ 5 $ — $ 56 $ 3 $ — $ 55 Total Investments $ 289 $ 10 $ 744 $ 355 $ 26 $ 787 (a) During the three months ended March 31, 2020 , Duke Energy Florida continued to receive reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3. |
Duke Energy Indiana | |
Debt Securities, Available-for-sale [Line Items] | |
Debt Securities, Trading, and Equity Securities, FV-NI | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value Investments Equity securities $ 26 $ 1 $ 63 $ 43 $ — $ 81 Corporate debt securities — — 4 — — 6 Municipal bonds 1 1 36 1 — 36 U.S. government bonds — — 3 — — 2 Total Investments $ 27 $ 2 $ 106 $ 44 $ — $ 125 |
Debt Securities, Available-for-sale | The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS. March 31, 2020 December 31, 2019 Gross Gross Gross Gross Unrealized Unrealized Estimated Unrealized Unrealized Estimated Holding Holding Fair Holding Holding Fair (in millions) Gains Losses Value Gains Losses Value Investments Equity securities $ 26 $ 1 $ 63 $ 43 $ — $ 81 Corporate debt securities — — 4 — — 6 Municipal bonds 1 1 36 1 — 36 U.S. government bonds — — 3 — — 2 Total Investments $ 27 $ 2 $ 106 $ 44 $ — $ 125 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 8 . See Note 9 for additional information related to investments by major security type for the Duke Energy Registrants. March 31, 2020 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 4,488 $ 4,440 $ — $ — $ 48 NDTF debt securities 2,540 767 1,773 — — Other equity securities 95 95 — — — Other debt securities 368 126 242 — — NDTF equity security contracts 20 — 20 — — Derivative assets 34 3 28 3 — Total assets 7,545 5,431 2,063 3 48 Derivative liabilities (390 ) (49 ) (250 ) (91 ) — Net assets (liabilities) $ 7,155 $ 5,382 $ 1,813 $ (88 ) $ 48 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Not Categorized NDTF equity securities $ 5,684 $ 5,633 $ — $ — $ 51 NDTF debt securities 2,469 826 1,643 — — Other equity securities 122 122 — — — Other debt securities 310 91 219 — — Derivative assets 25 3 7 15 — Total assets 8,610 6,675 1,869 15 51 NDTF equity security contracts (23 ) — (23 ) — — Derivative liabilities (277 ) (15 ) (145 ) (117 ) — Net assets (liabilities) $ 8,310 $ 6,660 $ 1,701 $ (102 ) $ 51 |
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. Derivatives (net) Three Months Ended March 31, (in millions) 2020 2019 Balance at beginning of period $ (102 ) $ (113 ) Purchases, sales, issuances and settlements: Settlements (9 ) (12 ) Total gains included on the Condensed Consolidated Balance Sheet 23 10 Balance at end of period $ (88 ) $ (115 ) |
Quantitative Information Table - Level 3 | The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3. March 31, 2020 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Ohio FTRs $ 1 RTO auction pricing FTR price – per MWh $ 0.04 - $ 3.29 $ 1.03 Duke Energy Indiana FTRs 2 RTO auction pricing FTR price – per MWh (0.37 ) - 6.06 0.54 Piedmont Natural gas contracts (91 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.64 - 2.41 1.94 Duke Energy Total Level 3 derivatives $ (88 ) December 31, 2019 Weighted Fair Value Average Investment Type (in millions) Valuation Technique Unobservable Input Range Range Duke Energy Ohio FTRs $ 4 RTO auction pricing FTR price – per MWh $ 0.59 - $ 3.47 $ 2.07 Duke Energy Indiana FTRs 11 RTO auction pricing FTR price – per MWh (0.66 ) - 9.24 1.15 Piedmont Natural gas contracts (117 ) Discounted cash flow Forward natural gas curves – price per MMBtu 1.59 - 2.46 1.91 Duke Energy Total Level 3 derivatives $ (102 ) |
Schedule Of Long Term Debt Fair Value | The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements. March 31, 2020 December 31, 2019 (in millions) Book Value Fair Value Book Value Fair Value Duke Energy (a) $ 61,388 $ 65,644 $ 58,126 $ 63,062 Duke Energy Carolinas 12,807 14,312 11,900 13,516 Progress Energy 19,355 21,802 19,634 22,291 Duke Energy Progress 9,059 9,798 9,058 9,934 Duke Energy Florida 7,706 8,831 7,987 9,131 Duke Energy Ohio 2,620 2,904 2,619 2,964 Duke Energy Indiana 4,603 5,433 4,057 4,800 Piedmont 2,385 2,551 2,384 2,642 (a) Book value of long-term debt includes $1.4 billion at March 31, 2020 , and $1.5 billion at December 31, 2019 , of unamortized debt discount and premium, net of purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt. |
Duke Energy Carolinas | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 2,498 $ 2,450 $ — $ 48 NDTF debt securities 1,214 182 1,032 — Derivative assets 2 — 2 — Total assets 3,714 2,632 1,034 48 Derivative liabilities (74 ) — (74 ) — Net assets $ 3,640 $ 2,632 $ 960 $ 48 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Not Categorized NDTF equity securities $ 3,154 $ 3,103 $ — $ 51 NDTF debt securities 1,193 227 966 — Total assets 4,347 3,330 966 51 Derivative liabilities (49 ) — (49 ) — Net assets $ 4,298 $ 3,330 $ 917 $ 51 |
Progress Energy | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 1,990 $ 1,990 $ — $ 2,530 $ 2,530 $ — NDTF debt securities 1,326 585 741 1,276 599 677 Other debt securities 122 69 53 100 49 51 NDTF equity security contracts 20 — 20 — — — Derivative assets 25 — 25 7 — 7 Total assets 3,483 2,644 839 3,913 3,178 735 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities (95 ) — (95 ) (65 ) — (65 ) Net assets $ 3,388 $ 2,644 $ 744 $ 3,825 $ 3,178 $ 647 |
Duke Energy Progress | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 1,631 $ 1,631 $ — $ 2,077 $ 2,077 $ — NDTF debt securities 1,017 276 741 974 297 677 Other debt securities 2 2 — 2 2 — Derivative assets 5 — 5 — — — Total assets 2,655 1,909 746 3,053 2,376 677 Derivative liabilities (51 ) — (51 ) (49 ) — (49 ) Net assets $ 2,604 $ 1,909 $ 695 $ 3,004 $ 2,376 $ 628 |
Duke Energy Florida | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Total Fair Value Level 1 Level 2 NDTF equity securities $ 359 $ 359 $ — $ 453 $ 453 $ — NDTF debt securities 309 309 — 302 302 — Other debt securities 56 3 53 55 4 51 NDTF equity security contracts 20 — 20 — — — Derivative assets — — — 7 — 7 Total assets 744 671 73 817 759 58 NDTF equity security contracts — — — (23 ) — (23 ) Derivative liabilities (29 ) — (29 ) (1 ) — (1 ) Net assets $ 715 $ 671 $ 44 $ 793 $ 759 $ 34 |
Duke Energy Indiana | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Other equity securities $ 63 $ 63 $ — $ — $ 81 $ 81 $ — $ — Other debt securities 43 — 43 — 44 — 44 — Derivative assets 2 — — 2 13 2 — 11 Total assets $ 108 $ 63 $ 43 $ 2 $ 138 $ 83 $ 44 $ 11 Derivative liabilities — — — — (1 ) (1 ) — — Net assets $ 108 $ 63 $ 43 $ 2 $ 137 $ 82 $ 44 $ 11 |
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) Three Months Ended March 31, (in millions) 2020 2019 Balance at beginning of period $ 11 $ 22 Purchases, sales, issuances and settlements: Settlements (6 ) (10 ) Total losses included on the Condensed Consolidated Balance Sheet (3 ) (7 ) Balance at end of period $ 2 $ 5 |
Piedmont Natural Gas | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement Amounts For Assets And Liabilities | The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets. March 31, 2020 December 31, 2019 (in millions) Total Fair Value Level 1 Level 3 Total Fair Value Level 1 Level 3 Derivative assets $ 3 $ 3 $ — $ 1 $ 1 $ — Derivative liabilities (91 ) — (91 ) (117 ) — (117 ) Net (liabilities) assets $ (88 ) $ 3 $ (91 ) $ (116 ) $ 1 $ (117 ) |
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) Three Months Ended March 31, (in millions) 2020 2019 Balance at beginning of period $ (117 ) $ (141 ) Total gains and settlements 26 20 Balance at end of period $ (91 ) $ (121 ) |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
VIE primary beneficiary | |
Variable Interest Entities [Line Items] | |
Schedule Of Variable Interest Entities | The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above. Duke Energy Duke Energy Duke Energy Duke Energy Carolinas Progress Florida (in millions) CRC DERF DEPR DEFR Expiration date February 2023 December 2022 April 2023 April 2021 Credit facility amount $ 350 $ 475 $ 375 $ 250 Amounts borrowed at March 31, 2020 350 475 325 250 Amounts borrowed at December 31, 2019 350 474 325 250 Restricted Receivables at March 31, 2020 467 616 410 331 Restricted Receivables at December 31, 2019 522 642 489 336 |
VIE not primary beneficiary | |
Variable Interest Entities [Line Items] | |
Schedule Of Variable Interest Entities | The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets. March 31, 2020 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 39 $ 48 Investments in equity method unconsolidated affiliates 1,243 371 — 1,614 — — Total assets $ 1,243 $ 370 $ — $ 1,613 $ 39 $ 48 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 3 3 — — Deferred income taxes 69 — — 69 — — Other noncurrent liabilities 105 — 11 116 — — Total liabilities $ 173 $ — $ 14 $ 187 $ — $ — Net assets (liabilities) $ 1,070 $ 370 $ (14 ) $ 1,426 $ 39 $ 48 December 31, 2019 Duke Energy Duke Duke Pipeline Commercial Other Energy Energy (in millions) Investments Renewables VIEs Total Ohio Indiana Receivables from affiliated companies $ — $ (1 ) $ — $ (1 ) $ 64 $ 77 Investments in equity method unconsolidated affiliates 1,179 300 — 1,479 — — Total assets $ 1,179 $ 299 $ — $ 1,478 $ 64 $ 77 Taxes accrued (1 ) — — (1 ) — — Other current liabilities — — 4 4 — — Deferred income taxes 59 — — 59 — — Other noncurrent liabilities — — 11 11 — — Total liabilities $ 58 $ — $ 15 $ 73 $ — $ — Net assets (liabilities) $ 1,121 $ 299 $ (15 ) $ 1,405 $ 64 $ 77 |
DEFPF | VIE primary beneficiary | |
Variable Interest Entities [Line Items] | |
Schedule Of Variable Interest Entities | The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets. (in millions) March 31, 2020 December 31, 2019 Receivables of VIEs $ 4 $ 5 Regulatory Assets: Current 53 52 Current Assets: Other 13 39 Other Noncurrent Assets: Regulatory assets 980 989 Current Liabilities: Other 2 10 Current maturities of long-term debt 54 54 Long-Term Debt 1,028 1,057 |
Commercial Renewables | VIE primary beneficiary | |
Variable Interest Entities [Line Items] | |
Schedule Of Variable Interest Entities | The table below presents material balances reported on Duke Energy's Condensed Consolidated Balance Sheets related to Commercial Renewables VIEs. (in millions) March 31, 2020 December 31, 2019 Current Assets: Other $ 287 $ 203 Property, Plant and Equipment: Cost 6,106 5,747 Accumulated depreciation and amortization (1,094 ) (1,041 ) Other Noncurrent Assets: Other 82 106 Current maturities of long-term debt 162 162 Long-Term Debt 1,538 1,541 Other Noncurrent Liabilities: AROs 129 127 Other Noncurrent Liabilities: Other 258 228 |
CRC | VIE not primary beneficiary | |
Variable Interest Entities [Line Items] | |
Schedule Of Variable Interest Entities | The following table shows the gross and net receivables sold. Duke Energy Ohio Duke Energy Indiana (in millions) March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 Receivables sold $ 234 $ 253 $ 274 $ 307 Less: Retained interests 39 64 48 77 Net receivables sold $ 195 $ 189 $ 226 $ 230 The following table shows sales and cash flows related to receivables sold. Duke Energy Ohio Duke Energy Indiana Three Months Ended Three Months Ended March 31, March 31, (in millions) 2020 2019 2020 2019 Sales Receivables sold $ 537 $ 575 $ 647 $ 734 Loss recognized on sale 4 4 4 5 Cash flows Cash proceeds from receivables sold $ 559 $ 597 $ 672 $ 758 Return received on retained interests 2 2 2 3 |
Pipeline Investments | VIE not primary beneficiary | |
Variable Interest Entities [Line Items] | |
Schedule Of Variable Interest Entities | The table below presents Duke Energy's ownership interest and investment balances in these joint ventures. VIE Investment Amount (in millions) Ownership March 31, December 31, Entity Name Interest 2020 2019 ACP (a) 47 % $ 1,243 $ 1,179 Constitution (b) 24 % — — Total $ 1,243 $ 1,179 (a) Duke Energy evaluated this investment for impairment as of March 31, 2020 , and December 31, 2019 , and determined that fair value approximated carrying value and therefore no impairment was necessary. (b) During the year ended December 31, 2019, Duke Energy recorded an OTTI related to Constitution. This charge resulted in the full write-down of Duke Energy's investment in Constitution. |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | Estimated remaining performance obligations are as follows: Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Piedmont $ 51 $ 65 $ 64 $ 61 $ 58 $ 376 $ 675 Remaining Performance Obligations (in millions) 2020 2021 2022 2023 2024 Thereafter Total Progress Energy $ 84 $ 92 $ 87 $ 44 $ 45 $ 58 $ 410 Duke Energy Progress 6 8 8 8 8 — 38 Duke Energy Florida 78 84 79 36 37 58 372 Duke Energy Indiana 8 5 — — — — 13 |
Disaggregation of Revenue | Disaggregated revenues are presented as follows: Three Months Ended March 31, 2020 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 2,261 $ 756 $ 1,064 $ 502 $ 562 $ 176 $ 265 $ — General 1,492 549 648 319 329 114 181 — Industrial 693 269 216 154 62 35 175 — Wholesale 497 114 321 279 42 7 55 — Other revenues 191 60 118 63 55 20 16 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 5,134 $ 1,748 $ 2,367 $ 1,317 $ 1,050 $ 352 $ 692 $ — Gas Utilities and Infrastructure Residential $ 362 $ — $ — $ — $ — $ 97 $ — $ 264 Commercial 169 — — — — 43 — 126 Industrial 41 — — — — 6 — 36 Power Generation — — — — — — — 11 Other revenues 30 — — — — 6 — 24 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 602 $ — $ — $ — $ — $ 152 $ — $ 461 Commercial Renewables Revenue from contracts with customers $ 58 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 6 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 5,800 $ 1,748 $ 2,367 $ 1,317 $ 1,050 $ 504 $ 692 $ 461 Other revenue sources (a) $ 149 $ — $ 55 $ 21 $ 30 $ (6 ) $ — $ 51 Total revenues $ 5,949 $ 1,748 $ 2,422 $ 1,338 $ 1,080 $ 498 $ 692 $ 512 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. Three Months Ended March 31, 2019 Duke Duke Duke Duke Duke (in millions) Duke Energy Progress Energy Energy Energy Energy By market or type of customer Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Electric Utilities and Infrastructure Residential $ 2,370 $ 760 $ 1,114 $ 536 $ 578 $ 189 $ 306 $ — General 1,427 496 632 306 326 103 197 — Industrial 711 266 222 161 61 33 190 — Wholesale 541 119 353 315 38 14 54 — Other revenues 172 78 172 125 47 16 17 — Total Electric Utilities and Infrastructure revenue from contracts with customers $ 5,221 $ 1,719 $ 2,493 $ 1,443 $ 1,050 $ 355 $ 764 $ — Gas Utilities and Infrastructure Residential $ 414 $ — $ — $ — $ — $ 112 $ — $ 302 Commercial 206 — — — — 49 — 157 Industrial 48 — — — — 7 — 42 Power Generation — — — — — — — 13 Other revenues 63 — — — — 8 — 56 Total Gas Utilities and Infrastructure revenue from contracts with customers $ 731 $ — $ — $ — $ — $ 176 $ — $ 570 Commercial Renewables Revenue from contracts with customers $ 42 $ — $ — $ — $ — $ — $ — $ — Other Revenue from contracts with customers $ 4 $ — $ — $ — $ — $ — $ — $ — Total revenue from contracts with customers $ 5,998 $ 1,719 $ 2,493 $ 1,443 $ 1,050 $ 531 $ 764 $ 570 Other revenue sources (a) $ 165 $ 25 $ 79 $ 41 $ 36 $ — $ 4 $ 9 Total revenues $ 6,163 $ 1,744 $ 2,572 $ 1,484 $ 1,086 $ 531 $ 768 $ 579 (a) Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues. |
Reserve for Credit Losses for Trade and Other Receivables | As described in Note 1 , Duke Energy adopted the new guidance for credit losses effective January 1, 2020, using the modified retrospective method of adoption, which does not require restatement of prior year reported results. The following table presents the reserve for credit losses for trade and other receivables based on adoption of the new standard. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Balance at December 31, 2019 $ 76 $ 10 $ 16 $ 8 $ 7 $ 4 $ 3 $ 6 Cumulative Change in Accounting Principle 5 1 2 1 1 — — 1 Write-Offs (10 ) (3 ) (4 ) (2 ) (2 ) — — (1 ) Credit Loss Expense 18 3 6 2 5 1 — 3 Balance at March 31, 2020 $ 89 $ 11 $ 20 $ 9 $ 11 $ 5 $ 3 $ 9 |
Aging of Trade Receivables | The aging of trade receivables is presented in the table below. Duke Energy considers receivables greater than 30 days outstanding past due. March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Unbilled Receivables $ 716 $ 285 $ 195 $ 85 $ 110 $ 1 $ 16 $ 32 0-30 days 1,584 448 585 321 262 45 24 134 30-60 days 216 69 67 44 23 9 1 18 60-90 days 65 18 20 14 6 2 1 5 90+ days 145 19 57 32 25 32 11 11 Trade and Other Receivables $ 2,726 $ 839 $ 924 $ 496 $ 426 $ 89 $ 53 $ 200 Unbilled revenues are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets as shown in the following table. (in millions) March 31, 2020 December 31, 2019 Duke Energy $ 716 $ 843 Duke Energy Carolinas 285 298 Progress Energy 195 217 Duke Energy Progress 85 122 Duke Energy Florida 110 95 Duke Energy Ohio 1 1 Duke Energy Indiana 16 16 Piedmont 32 78 (in millions) March 31, 2020 December 31, 2019 Duke Energy Ohio $ 61 $ 82 Duke Energy Indiana 94 115 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Schedule Of Earnings Per Share | The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared. Three Months Ended March 31, (in millions, except per share amounts) 2020 2019 Income from continuing operations available to Duke Energy common stockholders excluding impact of participating securities and including accumulated preferred stock dividends adjustment $ 911 $ 898 Weighted average common shares outstanding – basic 734 727 Equity forwards 2 — Weighted average common shares outstanding – diluted 736 727 EPS from continuing operations available to Duke Energy common stockholders Basic and diluted $ 1.24 $ 1.24 Potentially dilutive items excluded from the calculation (a) 2 2 Dividends declared per common share $ 0.945 $ 0.9275 Dividends declared on Series A preferred stock per depositary share (b) $ 0.359 $ — Dividends declared on Series B preferred stock per share (c) $ 24.917 $ — (a) Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met. (b) 5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share. (c) 4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Qualified Pension Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Components of Net Periodic Pension Costs | The following tables include the components of net periodic pension costs for qualified pension plans. Three Months Ended March 31, 2020 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 41 $ 12 $ 12 $ 6 $ 5 $ 1 $ 2 $ 1 Interest cost on projected benefit obligation 67 16 21 10 12 4 6 2 Expected return on plan assets (143 ) (36 ) (48 ) (22 ) (25 ) (7 ) (11 ) (5 ) Amortization of actuarial loss 34 7 11 5 6 2 3 2 Amortization of prior service credit (8 ) (2 ) (1 ) — — — — (2 ) Amortization of settlement charges 2 1 1 — — — — — Net periodic pension costs $ (7 ) $ (2 ) $ (4 ) $ (1 ) $ (2 ) $ — $ — $ (2 ) Three Months Ended March 31, 2019 Duke Duke Duke Duke Duke Duke Energy Progress Energy Energy Energy Energy (in millions) Energy Carolinas Energy Progress Florida Ohio Indiana Piedmont Service cost $ 37 $ 12 $ 11 $ 6 $ 4 $ 1 $ 2 $ 1 Interest cost on projected benefit obligation 83 20 26 12 14 5 6 3 Expected return on plan assets (143 ) (38 ) (44 ) (23 ) (22 ) (8 ) (11 ) (5 ) Amortization of actuarial loss 24 6 9 3 6 1 2 2 Amortization of prior service credit (8 ) (2 ) (1 ) — — — — (3 ) Net periodic pension costs $ (7 ) $ (2 ) $ 1 $ (2 ) $ 2 $ (1 ) $ (1 ) $ (2 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Summary of Effective Tax Rates | The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table. Three Months Ended March 31, 2020 2019 Duke Energy 13.3 % 9.6 % Duke Energy Carolinas 16.1 % 17.7 % Progress Energy 17.5 % 17.3 % Duke Energy Progress 17.1 % 17.8 % Duke Energy Florida 20.0 % 19.3 % Duke Energy Ohio 17.7 % 16.9 % Duke Energy Indiana 20.8 % 24.1 % Piedmont 10.1 % 21.8 % |
Organization and Basis of Pre_4
Organization and Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Noncontrolling Interest [Line Items] | ||
Sale of noncontrolling interests | $ 103 | $ 6 |
Net Income (Loss) Allocation to Noncontrolling Tax Equity Members | $ 49 | $ 7 |
Organization and Basis of Pre_5
Organization and Basis of Presentation (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Current Assets | ||||
Cash and cash equivalents | $ 1,450 | $ 311 | ||
Other | 185 | 222 | ||
Other Noncurrent Assets | ||||
Other | 63 | 40 | ||
Total cash, cash equivalents and restricted cash | 1,698 | 573 | $ 550 | $ 591 |
Progress Energy | ||||
Current Assets | ||||
Cash and cash equivalents | 52 | 48 | ||
Other | 13 | 39 | ||
Other Noncurrent Assets | ||||
Other | 60 | 39 | ||
Total cash, cash equivalents and restricted cash | 125 | 126 | 95 | 112 |
Duke Energy Florida | ||||
Current Assets | ||||
Cash and cash equivalents | 12 | 17 | ||
Other | 13 | 39 | ||
Other Noncurrent Assets | ||||
Total cash, cash equivalents and restricted cash | $ 25 | $ 56 | $ 20 | $ 75 |
Organization and Basis of Pre_6
Organization and Basis of Presentation (Schedule of Inventory) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Public Utilities, Inventory [Line Items] | ||
Inventory | $ 3,324 | $ 3,232 |
Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 2,280 | 2,297 |
Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 742 | 586 |
Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 302 | 349 |
Duke Energy Carolinas | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 1,067 | 996 |
Duke Energy Carolinas | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 759 | 768 |
Duke Energy Carolinas | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 268 | 187 |
Duke Energy Carolinas | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 40 | 41 |
Progress Energy | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 1,463 | 1,423 |
Progress Energy | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 1,018 | 1,038 |
Progress Energy | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 246 | 186 |
Progress Energy | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 199 | 199 |
Duke Energy Progress | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 956 | 934 |
Duke Energy Progress | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 678 | 686 |
Duke Energy Progress | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 167 | 138 |
Duke Energy Progress | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 111 | 110 |
Duke Energy Florida | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 508 | 489 |
Duke Energy Florida | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 340 | 351 |
Duke Energy Florida | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 79 | 48 |
Duke Energy Florida | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 89 | 90 |
Duke Energy Ohio | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 121 | 135 |
Duke Energy Ohio | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 83 | 79 |
Duke Energy Ohio | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 10 | 15 |
Duke Energy Ohio | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 28 | 41 |
Duke Energy Indiana | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 538 | 517 |
Duke Energy Indiana | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 319 | 318 |
Duke Energy Indiana | Coal | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 218 | 198 |
Duke Energy Indiana | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 1 | 1 |
Piedmont Natural Gas | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 39 | 72 |
Piedmont Natural Gas | Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | 5 | 5 |
Piedmont Natural Gas | Natural gas, oil and other fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventory | $ 34 | $ 67 |
Organization and Basis of Pre_7
Organization and Basis of Presentation (Schedule of New Accounting Pronouncements) (Details) - ASU 2016-13 $ in Millions | Jan. 01, 2020USD ($) |
Retained Earnings Adjustments [Line Items] | |
Total pretax impact to Retained Earnings | $ 120 |
Duke Energy Carolinas | |
Retained Earnings Adjustments [Line Items] | |
Total pretax impact to Retained Earnings | 16 |
Progress Energy | |
Retained Earnings Adjustments [Line Items] | |
Total pretax impact to Retained Earnings | 2 |
Duke Energy Progress | |
Retained Earnings Adjustments [Line Items] | |
Total pretax impact to Retained Earnings | 1 |
Duke Energy Florida | |
Retained Earnings Adjustments [Line Items] | |
Total pretax impact to Retained Earnings | 1 |
Piedmont Natural Gas | |
Retained Earnings Adjustments [Line Items] | |
Total pretax impact to Retained Earnings | $ 1 |
Business Segments (Business Seg
Business Segments (Business Segment Data) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Operating revenues | $ 5,949 | $ 6,163 | |
Segment income (loss) | 899 | 900 | |
Add: Noncontrolling interests | (48) | (7) | |
Add: Preferred stock dividend | 39 | ||
Net Income | 890 | 893 | |
Segment assets | 160,072 | $ 158,838 | |
Electric Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 5,174 | 5,321 | |
Gas Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 640 | 732 | |
Commercial Renewables | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 129 | 106 | |
Total Reportable Segments | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 5,943 | 6,159 | |
Other | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 6 | 4 | |
Operating Segments | Electric Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 5,183 | 5,329 | |
Segment income (loss) | 705 | 750 | |
Segment assets | 134,838 | ||
Operating Segments | Gas Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 664 | 756 | |
Segment income (loss) | 249 | 226 | |
Segment assets | 14,098 | ||
Operating Segments | Commercial Renewables | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 129 | 106 | |
Segment income (loss) | 57 | 13 | |
Segment assets | 6,184 | ||
Operating Segments | Total Reportable Segments | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 5,976 | 6,191 | |
Segment income (loss) | 1,011 | 989 | |
Segment assets | 155,120 | ||
Other | Other | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 23 | 21 | |
Segment income (loss) | (112) | (89) | |
Segment assets | 4,964 | ||
Eliminations | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | (50) | (49) | |
Segment assets | (12) | ||
Eliminations | Electric Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 9 | 8 | |
Eliminations | Gas Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 24 | 24 | |
Eliminations | Total Reportable Segments | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 33 | 32 | |
Eliminations | Other | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 17 | 17 | |
Duke Energy Carolinas | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 1,748 | 1,744 | |
Segment assets | 44,051 | 44,053 | |
Duke Energy Carolinas | Other | |||
Segment Reporting Information [Line Items] | |||
Segment income (loss) | 98 | ||
Duke Energy Ohio | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 498 | 531 | |
Segment income (loss) | 65 | 69 | |
Segment assets | 9,397 | $ 9,338 | |
Duke Energy Ohio | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 531 | ||
Segment income (loss) | 71 | ||
Duke Energy Ohio | Operating Segments | Electric Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 346 | 355 | |
Segment income (loss) | 30 | 36 | |
Segment assets | 6,238 | ||
Duke Energy Ohio | Operating Segments | Gas Utilities and Infrastructure | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 152 | 176 | |
Segment income (loss) | 36 | 35 | |
Segment assets | 3,135 | ||
Duke Energy Ohio | Operating Segments | Total Reportable Segments | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 498 | ||
Segment income (loss) | 66 | ||
Segment assets | 9,373 | ||
Duke Energy Ohio | Other | |||
Segment Reporting Information [Line Items] | |||
Segment income (loss) | $ (2) | ||
Duke Energy Ohio | Other | Other | |||
Segment Reporting Information [Line Items] | |||
Segment income (loss) | (1) | ||
Segment assets | 26 | ||
Duke Energy Ohio | Eliminations | |||
Segment Reporting Information [Line Items] | |||
Segment assets | $ (2) |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2020segment | |
Duke Energy Ohio | |
Segment Reporting Information [Line Items] | |
Number of reportable segments | 2 |
Regulatory Matters (Regulatory
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Carolinas) (Details) - Duke Energy Carolinas - USD ($) $ in Millions | Sep. 30, 2019 | May 21, 2019 | Nov. 08, 2018 | Feb. 28, 2018 | Aug. 25, 2017 |
2017 North Carolina Rate Case | NCUC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Requested rate increase (decrease), amount | $ 647 | ||||
Requested rate increase, percentage | 13.60% | ||||
Requested return on equity, percent | 9.90% | ||||
Public utilities, requested equity capital structure, percentage | 52.00% | ||||
Public utilities, requested debt capital structure, percentage | 48.00% | ||||
2019 North Carolina Rate Case | NCUC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Requested rate increase (decrease), amount | $ 291 | ||||
Requested rate increase, percentage | 6.00% | ||||
Requested rate increase (decrease), gross amount | $ 445 | ||||
Requested rate increase (decrease), rider reduction | $ 154 | ||||
South Carolina Rate Case 2018 | PSCSC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Requested rate increase (decrease), amount | $ 168 | ||||
Requested rate increase, percentage | 10.00% | ||||
Change in tax rate, deferred tax liability, income tax benefit | $ 66 | $ 66 | |||
Measurement period adjustment, income tax expense (benefit) | $ 45 | 46 | |||
Approved return on equity percentage | 9.50% | ||||
Public utilities, approved equity capital structure, percentage | 53.00% | ||||
Public utilities, approved debt capital structure, percentage | 47.00% | ||||
State and local jurisdiction | North Carolina Department of Revenue | South Carolina Rate Case 2018 | PSCSC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
State and local taxes reduction amount | $ 17 | 17 | |||
Regulatory asset, amortization period | 5 years | ||||
Asset retirement obligations - coal ash | South Carolina Rate Case 2018 | PSCSC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | $ 96 | $ 242 | |||
Regulatory asset, amortization period | 5 years | 5 years | |||
Recovery costs denied | $ 115 | ||||
Asset retirement obligations - unprotected EDIT, Property, Plant and Equipment | South Carolina Rate Case 2018 | PSCSC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory asset, amortization period | 20 years | ||||
Asset retirement obligations - unprotected EDIT | South Carolina Rate Case 2018 | PSCSC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory asset, amortization period | 5 years | ||||
Asset retirement obligations - deferred revenue | South Carolina Rate Case 2018 | PSCSC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory asset, amortization period | 5 years | ||||
Deferred project costs | South Carolina Rate Case 2018 | PSCSC | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Regulatory assets | $ 125 | ||||
Regulatory asset, amortization period | 12 years |
Regulatory Matters (Regulator_2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Progress) (Details) - Duke Energy Progress customer in Thousands, $ in Millions | Jan. 29, 2020USD ($)MW | Oct. 30, 2019USD ($) | May 21, 2019USD ($) | Nov. 08, 2018USD ($) | Nov. 22, 2017 | Jun. 01, 2017USD ($) | Mar. 31, 2020USD ($) | Feb. 07, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($)customer | Mar. 28, 2016USD ($) |
2017 North Carolina Rate Case | NCUC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Requested rate increase (decrease), amount | $ 477 | ||||||||||
Requested rate increase, percentage | 14.90% | ||||||||||
Requested rate increase (decrease), amended amount | $ 420 | ||||||||||
Requested rate increase (decrease) amended, percentage | 13.00% | ||||||||||
Requested return on equity, percent | 9.90% | ||||||||||
Public utilities, requested equity capital structure, percentage | 52.00% | ||||||||||
Public utilities, requested debt capital structure, percentage | 48.00% | ||||||||||
2019 North Carolina Rate Case | NCUC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Requested rate increase (decrease), amount | $ 464 | ||||||||||
Requested rate increase, percentage | 12.30% | ||||||||||
Requested rate increase (decrease), gross amount | $ 586 | ||||||||||
Rider reduction | 122 | ||||||||||
Requested rate increase (decrease), rider reduction | $ 120 | ||||||||||
Hurricane Dorian storm damage | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Estimated storm costs - O&M | $ 177 | ||||||||||
Estimated storm costs - capital investments | $ 4 | ||||||||||
Storm deferral - O&M | $ 22 | ||||||||||
South Carolina Rate Case 2018 | PSCSC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Requested rate increase (decrease), amount | $ 59 | ||||||||||
Requested rate increase, percentage | 10.30% | ||||||||||
Change in tax rate, deferred tax liability, income tax benefit | $ 17 | $ 17 | |||||||||
Measurement period adjustment, income tax expense (benefit) | $ 12 | 10 | |||||||||
Approved return on equity percentage | 9.50% | ||||||||||
Public utilities, approved equity capital structure, percentage | 53.00% | ||||||||||
Public utilities, approved debt capital structure, percentage | 47.00% | ||||||||||
Western Carolinas Modernization Plan | NCUC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Regulatory asset, amortization period | 10 years | ||||||||||
Estimated capital cost | $ 893 | ||||||||||
NORTH CAROLINA | Hurricane Dorian storm damage | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Customers experiencing outages | customer | 270 | ||||||||||
SOUTH CAROLINA | Hurricane Dorian storm damage | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Customers experiencing outages | customer | 30 | ||||||||||
Storm Costs [Member] | Hurricane Dorian storm damage | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Regulatory assets | $ 151 | $ 179 | |||||||||
Asset retirement obligations - coal ash | South Carolina Rate Case 2018 | PSCSC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Regulatory assets | $ 4 | $ 51 | |||||||||
Recovery costs denied | $ 65 | ||||||||||
Regulatory asset, amortization period | 5 years | 5 years | |||||||||
Asset retirement obligations - unprotected EDIT, Property, Plant and Equipment | South Carolina Rate Case 2018 | PSCSC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Regulatory asset, amortization period | 20 years | ||||||||||
Asset retirement obligations - unprotected EDIT | South Carolina Rate Case 2018 | PSCSC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Regulatory asset, amortization period | 5 years | ||||||||||
Asset retirement obligations - deferred revenue | South Carolina Rate Case 2018 | PSCSC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Regulatory asset, amortization period | 3 years | ||||||||||
State and local jurisdiction | North Carolina Department of Revenue | South Carolina Rate Case 2018 | PSCSC | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
State and local taxes reduction amount | $ (12) | $ (12) | |||||||||
Asheville Plant | |||||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||||
Capacity (in MW) | MW | 376 | ||||||||||
Generation facilities retired, net | $ 214 |
Regulatory Matters (Regulator_3
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Florida) (Details) $ in Millions | Mar. 25, 2019USD ($) | Apr. 30, 2020USD ($) | Jan. 31, 2019USD ($) | Apr. 02, 2020USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 19, 2019USD ($) | Nov. 22, 2019USD ($) | Oct. 31, 2018customer |
Hurricane Michael storm damage | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Customers experiencing outages | customer | 72,000 | ||||||||
Estimated storm costs - capital and operation maintenance | $ 311 | ||||||||
Amount of recovery costs sought | $ 191 | ||||||||
Property, plant and equipment, net | 106 | $ 107 | |||||||
Hurricane Dorian storm damage | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated storm costs - capital and operation maintenance | 147 | 167 | $ 169 | ||||||
Noncurrent assets | Hurricane Michael storm damage | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Estimated storm costs - capital and operation maintenance | $ 205 | $ 204 | |||||||
Hamilton Project | 2017 Second Revised and Restated Stipulation and Settlement Agreement | FPSC | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease), amount | $ 15 | ||||||||
Trenton Generation Project | 2017 Second Revised and Restated Stipulation and Settlement Agreement | FPSC | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease), amount | $ 13 | ||||||||
Lake Placid Generation Project | 2017 Second Revised and Restated Stipulation and Settlement Agreement | FPSC | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease), amount | 8 | ||||||||
DeBary Solar Project | 2017 Second Revised and Restated Stipulation and Settlement Agreement | FPSC | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Requested rate increase (decrease), amount | $ 11 | ||||||||
Subsequent event | FPSC | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Accelerated fuel cost refund | $ 78 | ||||||||
Subsequent event | Columbia Project | 2017 Second Revised and Restated Stipulation and Settlement Agreement | FPSC | Duke Energy Florida | |||||||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Approved rate increase (decrease), amount | $ 14 |
Regulatory Matters (Regulator_4
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Ohio) (Details) $ in Millions | Apr. 27, 2020USD ($) | Jan. 31, 2020USD ($) | Sep. 03, 2019USD ($)MW | Apr. 13, 2018USD ($) | Sep. 27, 2017USD ($) | Sep. 26, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2017USD ($) | Jul. 12, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 28, 2018USD ($) |
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulated operating revenue, electric, non-nuclear | $ 5,124 | $ 5,285 | ||||||||||||
Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulated operating revenue, electric, non-nuclear | 346 | $ 355 | ||||||||||||
Ohio Base Rate Case 2017 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease), amount | $ 15 | |||||||||||||
Requested return on equity, percent | 10.40% | |||||||||||||
Requested rate increase (decrease), amended amount | $ (19) | |||||||||||||
Requested rate increase (decrease) amended, percentage | 9.84% | |||||||||||||
Public utilities, requested equity capital structure, percentage | 50.75% | |||||||||||||
Public utilities, requested debt capital structure, percentage | 49.25% | |||||||||||||
Approved rate increase (decrease), amount | $ (20) | |||||||||||||
Energy Efficiency Cost Recovery | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulated operating revenue, electric, non-nuclear | $ 20 | |||||||||||||
MGP Cost Recovery - 2009 Through 2012 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | 55 | |||||||||||||
MGP Cost Recovery - 2013 Through 2017 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | $ 26 | |||||||||||||
MGP Cost Recovery - 2018 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | 39 | $ 20 | ||||||||||||
Duke Energy Kentucky Electric base rate case | KPSC | Duke Energy Kentucky | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease), amount | $ 46 | |||||||||||||
Requested rate increase (decrease), amended amount | $ 44 | |||||||||||||
Requested rate increase, percentage | 12.50% | |||||||||||||
Distribution battery energy storage system (in MW) | MW | 3.4 | |||||||||||||
Approved return on equity percentage | 9.25% | |||||||||||||
Duke Energy Kentucky Electric base rate case, Kentucky Attorney General | KPSC | Duke Energy Kentucky | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease), amount | $ 26 | |||||||||||||
Minimum | Ohio Base Rate Case 2017 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease), amount | $ (18) | |||||||||||||
Requested return on equity, percent | 9.22% | |||||||||||||
Minimum | Natural Gas Pipeline extension | OPSB | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Estimated capital cost excluding AFUDC | 163 | |||||||||||||
Maximum | Ohio Base Rate Case 2017 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Requested rate increase (decrease), amount | $ (29) | |||||||||||||
Requested return on equity, percent | 10.24% | |||||||||||||
Requested Rider Revenue Increase | $ 10 | |||||||||||||
Maximum | Energy Efficiency Cost Recovery | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Approved rate increase (decrease), amount | $ 38 | |||||||||||||
Approved rate increase (decrease), one-time waiver amount | $ 56 | |||||||||||||
Maximum | Natural Gas Pipeline extension | OPSB | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Estimated capital cost excluding AFUDC | $ 245 | |||||||||||||
MGP Costs - regulatory disallowance | MGP Cost Recovery - 2013 Through 2017 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | $ 12 | |||||||||||||
MGP Costs - regulatory disallowance | MGP Cost Recovery - 2018 | PUCO | Duke Energy Ohio | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Regulatory assets | $ 11 | |||||||||||||
Subsequent event | Duke Energy Kentucky Electric base rate case | KPSC | Duke Energy Kentucky | ||||||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||||||
Approved rate increase (decrease), amount | $ 24 |
Regulatory Matters (Regulator_5
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Indiana) (Details) - Indiana rate case 2019 - IURC - Duke Energy Indiana - USD ($) $ in Millions | Dec. 04, 2019 | Sep. 09, 2019 | Jul. 02, 2019 | Dec. 31, 2018 |
Public Utilities, General Disclosures [Line Items] | ||||
Requested rate increase (decrease), amount | $ 395 | $ 395 | ||
Rate base | $ 10,200 | |||
Requested rate increase (decrease), amended amount | $ 396 | 393 | ||
Amount reduced from initial request | $ 2 | |||
Requested rate increase, percentage | 15.00% | |||
Requested rate increase, percentage, net of tax | 15.60% | 17.00% |
Regulatory Matters (Regulator_6
Regulatory Matters (Regulatory Matters Narrative - Piedmont) (Details) - Piedmont Natural Gas - USD ($) $ in Millions | 1 Months Ended | |
Apr. 30, 2020 | Nov. 30, 2019 | |
Tennessee Integrity Management Rider Filing November 2018 | TPUC | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested rate increase (decrease), amount | $ 2 | |
Subsequent event | North Carolina Integrity Management Rider Filing | NCUC | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested rate increase (decrease), amount | $ 15 |
Regulatory Matters (Other Regul
Regulatory Matters (Other Regulatory Matters) (Details) - USD ($) $ in Millions | Sep. 02, 2014 | Mar. 31, 2020 | Dec. 31, 2019 |
Public Utilities, General Disclosures [Line Items] | |||
Public utilities, property, plant and equipment, net | $ 103,108 | $ 102,127 | |
Duke Energy Carolinas | |||
Public Utilities, General Disclosures [Line Items] | |||
Public utilities, property, plant and equipment, net | 32,650 | 32,397 | |
Duke Energy Progress | |||
Public Utilities, General Disclosures [Line Items] | |||
Public utilities, property, plant and equipment, net | 22,815 | $ 22,934 | |
ACP | |||
Public Utilities, General Disclosures [Line Items] | |||
Joint owner ownership percentage | 47.00% | ||
Long-term purchase commitment, period | 20 years | ||
Estimated capital cost | 8,000 | ||
Investment amount | $ 1,200 | ||
Constitution | |||
Public Utilities, General Disclosures [Line Items] | |||
Joint owner ownership percentage | 24.00% | ||
Dominion resources | ACP | |||
Public Utilities, General Disclosures [Line Items] | |||
Joint owner ownership percentage | 53.00% | ||
Southern Company Gas | ACP | |||
Public Utilities, General Disclosures [Line Items] | |||
Joint owner ownership percentage | 5.00% | ||
Williams Partners L.P. | Constitution | |||
Public Utilities, General Disclosures [Line Items] | |||
Joint owner ownership percentage | 41.00% | ||
Financial guarantee | ACP | |||
Public Utilities, General Disclosures [Line Items] | |||
Maximum potential amount of future payments associated with guarantees | $ 845 | ||
Credit Facility | ACP | |||
Public Utilities, General Disclosures [Line Items] | |||
Percentage of outstanding borrowings | 47.00% | ||
Generation facilities evaluated for retirement | Duke Energy Carolinas | |||
Public Utilities, General Disclosures [Line Items] | |||
Public utilities, property, plant and equipment, net | $ 707 | ||
Generation facilities evaluated for retirement | Duke Energy Progress | |||
Public Utilities, General Disclosures [Line Items] | |||
Public utilities, property, plant and equipment, net | $ 1,200 |
Regulatory Matters (Schedule of
Regulatory Matters (Schedule of Net Carrying Value Of Facilities and Megawatt Capacity) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2020USD ($)MW | Dec. 31, 2019USD ($) | |
Public Utilities, General Disclosures [Line Items] | ||
Public utilities, property, plant and equipment, net | $ 103,108 | $ 102,127 |
Duke Energy Carolinas | ||
Public Utilities, General Disclosures [Line Items] | ||
Public utilities, property, plant and equipment, net | 32,650 | 32,397 |
Duke Energy Indiana | ||
Public Utilities, General Disclosures [Line Items] | ||
Public utilities, property, plant and equipment, net | $ 11,132 | $ 11,072 |
Generation facilities to be retired | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 5,002 | |
Public utilities, property, plant and equipment, net | $ 2,939 | |
Allen Steam Station Units 1-3 | Generation facilities to be retired | Duke Energy Carolinas | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 585 | |
Public utilities, property, plant and equipment, net | $ 149 | |
Gallagher Units 2 and 4 | Generation facilities to be retired | Duke Energy Indiana | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 280 | |
Public utilities, property, plant and equipment, net | $ 118 | |
Gibson Units 1-5 | Generation facilities to be retired | Duke Energy Indiana | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 3,132 | |
Public utilities, property, plant and equipment, net | $ 1,708 | |
Cayuga Units 1-2 | Generation facilities to be retired | Duke Energy Indiana | ||
Public Utilities, General Disclosures [Line Items] | ||
Capacity (in MW) | MW | 1,005 | |
Public utilities, property, plant and equipment, net | $ 964 |
Commitments and Contingencies_2
Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | $ 58 |
Provisions/adjustments | 3 |
Cash reductions | (3) |
Balance at end of period | 58 |
Environmental exit costs, reasonably possible additional loss | 58 |
Duke Energy Carolinas | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | 11 |
Cash reductions | (1) |
Balance at end of period | 10 |
Environmental exit costs, reasonably possible additional loss | 11 |
Progress Energy | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | 16 |
Cash reductions | (1) |
Balance at end of period | 15 |
Duke Energy Progress | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | 4 |
Provisions/adjustments | 1 |
Cash reductions | 0 |
Balance at end of period | 5 |
Duke Energy Florida | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | 9 |
Cash reductions | 0 |
Balance at end of period | 9 |
Duke Energy Ohio | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | 19 |
Provisions/adjustments | 1 |
Cash reductions | (1) |
Balance at end of period | 19 |
Environmental exit costs, reasonably possible additional loss | 41 |
Duke Energy Indiana | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | 4 |
Provisions/adjustments | 1 |
Cash reductions | 0 |
Balance at end of period | 5 |
Piedmont Natural Gas | |
Accrual for Environmental Loss Contingencies [Roll Forward] | |
Balance at beginning of period | 8 |
Cash reductions | 0 |
Balance at end of period | 8 |
Environmental exit costs, reasonably possible additional loss | $ 2 |
Commitments and Contingencies_3
Commitments and Contingencies (Narrative) (Details) $ in Millions | Jun. 18, 2018USD ($) | Mar. 31, 2020USD ($)plantclaim | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) |
ASU 2016-13 | ||||
Loss Contingencies [Line Items] | ||||
Reserve for credit losses for financial guarantees | $ 99 | |||
Coal Ash Insurance Coverage Litigation | ||||
Loss Contingencies [Line Items] | ||||
Number of NC and SC Plants with Ash Basins | plant | 15 | |||
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims | ||||
Loss Contingencies [Line Items] | ||||
Asbestos-related injuries and damages reserves | $ 596 | $ 604 | ||
Reinsurance retention policy, excess retention, amount reinsured | 747 | |||
Probable insurance recoveries | $ 742 | $ 742 | ||
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims | Non-malignant cases | ||||
Loss Contingencies [Line Items] | ||||
Loss contingency, pending claims, number | claim | 118 | |||
Asbestos-related injuries and damages reserves | $ 30 | |||
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims | Malignant cases | ||||
Loss Contingencies [Line Items] | ||||
Loss contingency, pending claims, number | claim | 51 | |||
Asbestos-related injuries and damages reserves | $ 17 | |||
Duke Energy Progress | Spent Nuclear Fuel Matters | ||||
Loss Contingencies [Line Items] | ||||
Pending litigation, damages sought | $ 100 | |||
Duke Energy Florida | Spent Nuclear Fuel Matters | ||||
Loss Contingencies [Line Items] | ||||
Pending litigation, damages sought | $ 203 | |||
Duke Energy and Duke Energy Carolinas | ASU 2016-13 | ||||
Loss Contingencies [Line Items] | ||||
Reserve for credit losses for insurance receivables | $ 15 |
Commitments and Contingencies_4
Commitments and Contingencies (Schedule of Legal Reserves) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Loss Contingencies [Line Items] | ||
Reserves for legal matters | $ 61 | $ 62 |
Duke Energy Carolinas | ||
Loss Contingencies [Line Items] | ||
Reserves for legal matters | 3 | 2 |
Progress Energy | ||
Loss Contingencies [Line Items] | ||
Reserves for legal matters | 52 | 55 |
Duke Energy Progress | ||
Loss Contingencies [Line Items] | ||
Reserves for legal matters | 9 | 12 |
Duke Energy Florida | ||
Loss Contingencies [Line Items] | ||
Reserves for legal matters | 23 | 22 |
Piedmont Natural Gas | ||
Loss Contingencies [Line Items] | ||
Reserves for legal matters | $ 1 | $ 1 |
Debt and Credit Facilities (Sum
Debt and Credit Facilities (Summary of Debt Issuances) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Debt Instrument [Line Items] | ||
Debt issuances | $ 3,138,000,000 | |
Repayments of long-term debt | 292,000,000 | $ 1,201,000,000 |
Duke Energy Carolinas | ||
Debt Instrument [Line Items] | ||
Debt issuances | 900,000,000 | |
Repayments of long-term debt | 2,000,000 | 1,000,000 |
Duke Energy Carolinas | First Mortgage Bonds | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | 450,000,000 | |
Duke Energy Indiana | ||
Debt Instrument [Line Items] | ||
Debt issuances | 550,000,000 | |
Repayments of long-term debt | $ 60,000,000 | |
Duke Energy Indiana | First Mortgage Bonds | ||
Debt Instrument [Line Items] | ||
Repayments of long-term debt | $ 500,000,000 | |
Unsecured Debt | March 2020 1.400% Due March 2021 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.40% | |
Debt issuances | $ 1,688,000,000 | |
First Mortgage Bonds | January 2020 2.450% Due 2030 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.45% | |
Debt issuances | $ 500,000,000 | |
First Mortgage Bonds | January 2020 3.20% Due 2049 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.20% | |
Debt issuances | $ 400,000,000 | |
First Mortgage Bonds | March 2020 2.750% Due 2050 | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.75% | |
Debt issuances | $ 550,000,000 | |
First Mortgage Bonds | Duke Energy Carolinas | January 2020 2.450% Due 2030 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 500,000,000 | |
First Mortgage Bonds | Duke Energy Carolinas | January 2020 3.20% Due 2049 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 400,000,000 | |
First Mortgage Bonds | Duke Energy Indiana | March 2020 2.750% Due 2050 | ||
Debt Instrument [Line Items] | ||
Debt issuances | 550,000,000 | |
Duke Energy (Parent) | Duke Energy (Parent) | ||
Debt Instrument [Line Items] | ||
Debt issuances | 1,688,000,000 | |
Duke Energy (Parent) | Unsecured Debt | Duke Energy (Parent) | March 2020 1.400% Due March 2021 | ||
Debt Instrument [Line Items] | ||
Debt issuances | $ 1,688,000,000 |
Debt and Credit Facilities (S_2
Debt and Credit Facilities (Summary of Current Maturities of Long-term Debt) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 5,077 | $ 3,141 |
Other debt obligations | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | 359 | |
Duke Energy Progress | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 1,006 | 1,006 |
Duke Energy Progress | Unsecured Debt | Debt maturing December 2020, floating interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.292% | |
Current maturities of long-term debt | $ 700 | |
Duke Energy Progress | First Mortgage Bonds | Bonds maturing September 2020, floating interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.076% | |
Current maturities of long-term debt | $ 300 | |
Progress Energy | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 1,828 | 1,577 |
Progress Energy | Unsecured Debt | Debt maturing January 2021, 4.400% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.40% | |
Current maturities of long-term debt | $ 500 | |
Duke Energy Florida | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 322 | 571 |
Duke Energy Florida | First Mortgage Bonds | Bonds maturing April 2020, 4.550% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.55% | |
Current maturities of long-term debt | $ 250 | |
Duke Energy Carolinas | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 457 | 458 |
Duke Energy Carolinas | First Mortgage Bonds | Bonds maturing June 2020, 4.300% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.30% | |
Current maturities of long-term debt | $ 450 | |
Duke Energy Indiana | ||
Debt Instrument [Line Items] | ||
Current maturities of long-term debt | $ 503 | $ 503 |
Duke Energy Indiana | First Mortgage Bonds | Bonds maturing July 2020, 3.750% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.75% | |
Current maturities of long-term debt | $ 500 | |
Duke Energy (Parent) | Unsecured Debt | Debt maturing June 2020, 2.100% interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.10% | |
Current maturities of long-term debt | $ 330 | |
Duke Energy (Parent) | Unsecured Debt | Debt maturing March 2021, floating interest rate | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.40% | |
Current maturities of long-term debt | $ 1,688 |
Debt and Credit Facilities (Nar
Debt and Credit Facilities (Narrative) (Details) - Master Credit Facility | Mar. 31, 2020USD ($) |
Debt Instrument [Line Items] | |
Facility size | $ 8,000,000,000 |
Duke Energy Carolinas | |
Debt Instrument [Line Items] | |
Facility size | 1,500,000,000 |
Duke Energy Carolinas | USDOJ | North Carolina ash basins | |
Debt Instrument [Line Items] | |
Minimum master credit facility balance required | $ 250,000,000 |
Debt and Credit Facilities (Sch
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - Master Credit Facility | Mar. 31, 2020USD ($) |
Line of Credit Facility [Line Items] | |
Facility size | $ 8,000,000,000 |
Commercial paper | (2,540,000,000) |
Outstanding letters of credit | (49,000,000) |
Tax-exempt bonds | (81,000,000) |
Coal ash set-aside | (500,000,000) |
Available capacity under the Master Credit Facility | 4,830,000,000 |
Duke Energy Carolinas | |
Line of Credit Facility [Line Items] | |
Facility size | 1,500,000,000 |
Commercial paper | (300,000,000) |
Outstanding letters of credit | (4,000,000) |
Coal ash set-aside | (250,000,000) |
Available capacity under the Master Credit Facility | 946,000,000 |
Duke Energy Progress | |
Line of Credit Facility [Line Items] | |
Facility size | 1,250,000,000 |
Commercial paper | (275,000,000) |
Outstanding letters of credit | (2,000,000) |
Coal ash set-aside | (250,000,000) |
Available capacity under the Master Credit Facility | 723,000,000 |
Duke Energy Florida | |
Line of Credit Facility [Line Items] | |
Facility size | 800,000,000 |
Commercial paper | (167,000,000) |
Available capacity under the Master Credit Facility | 633,000,000 |
Duke Energy Ohio | |
Line of Credit Facility [Line Items] | |
Facility size | 600,000,000 |
Commercial paper | (243,000,000) |
Available capacity under the Master Credit Facility | 357,000,000 |
Duke Energy Indiana | |
Line of Credit Facility [Line Items] | |
Facility size | 600,000,000 |
Commercial paper | (150,000,000) |
Tax-exempt bonds | (81,000,000) |
Available capacity under the Master Credit Facility | 369,000,000 |
Piedmont Natural Gas | |
Line of Credit Facility [Line Items] | |
Facility size | 600,000,000 |
Commercial paper | (265,000,000) |
Outstanding letters of credit | (1,000,000) |
Available capacity under the Master Credit Facility | 334,000,000 |
Duke Energy (Parent) | |
Line of Credit Facility [Line Items] | |
Facility size | 2,650,000,000 |
Commercial paper | (1,140,000,000) |
Outstanding letters of credit | (42,000,000) |
Available capacity under the Master Credit Facility | 1,468,000,000 |
Duke Energy (Parent) | Proceeds loaned to subsidiary registrants | |
Line of Credit Facility [Line Items] | |
Commercial paper | $ (625,000,000) |
Debt and Credit Facilities (S_3
Debt and Credit Facilities (Schedule of Other Credit Facilities) (Details) | 1 Months Ended | 3 Months Ended |
Mar. 31, 2020USD ($) | Mar. 31, 2020USD ($) | |
Master Credit Facility | ||
Line of Credit Facility [Line Items] | ||
Facility size | $ 8,000,000,000 | $ 8,000,000,000 |
Duke Energy Progress | Master Credit Facility | ||
Line of Credit Facility [Line Items] | ||
Facility size | 1,250,000,000 | 1,250,000,000 |
Duke Energy Progress | Term Loan Facility | ||
Line of Credit Facility [Line Items] | ||
Facility size | 700,000,000 | 700,000,000 |
Amount drawn | 700,000,000 | $ 700,000,000 |
Duke Energy (Parent) Three-Year Revolving Credit Facility | Master Credit Facility | ||
Line of Credit Facility [Line Items] | ||
Facility Term | 3 years | |
Facility size | 1,000,000,000 | $ 1,000,000,000 |
Amount drawn | 1,000,000,000 | $ 1,000,000,000 |
Additional amount drawn | $ 500,000,000 |
Goodwill (Rollforward of Goodwi
Goodwill (Rollforward of Goodwill) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Goodwill [Line Items] | ||
Goodwill balance | $ 19,425 | $ 19,425 |
Accumulated impairment charges | (122) | (122) |
Goodwill, adjusted for accumulated impairment charges | 19,303 | 19,303 |
Electric Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Goodwill balance | 17,379 | 17,379 |
Goodwill, adjusted for accumulated impairment charges | 17,379 | 17,379 |
Gas Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Goodwill balance | 1,924 | 1,924 |
Goodwill, adjusted for accumulated impairment charges | 1,924 | 1,924 |
Commercial Renewables | ||
Goodwill [Line Items] | ||
Goodwill balance | 122 | 122 |
Accumulated impairment charges | $ (122) | $ (122) |
Goodwill (Narrative) (Details)
Goodwill (Narrative) (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Goodwill [Line Items] | ||
Goodwill | $ 19,303,000,000 | $ 19,303,000,000 |
Accumulated impairment charges | 122,000,000 | 122,000,000 |
Electric Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Goodwill | 17,379,000,000 | 17,379,000,000 |
Gas Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Goodwill | 1,924,000,000 | 1,924,000,000 |
Duke Energy Ohio | ||
Goodwill [Line Items] | ||
Goodwill | 920,000,000 | 920,000,000 |
Accumulated impairment charges | 216,000,000 | 216,000,000 |
Duke Energy Ohio | Electric Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Goodwill | 596,000,000 | 596,000,000 |
Duke Energy Ohio | Gas Utilities and Infrastructure | ||
Goodwill [Line Items] | ||
Goodwill | 324,000,000 | 324,000,000 |
Progress Energy | ||
Goodwill [Line Items] | ||
Goodwill | 3,655,000,000 | 3,655,000,000 |
Accumulated impairment charges | 0 | 0 |
Piedmont Natural Gas | ||
Goodwill [Line Items] | ||
Goodwill | 49,000,000 | 49,000,000 |
Accumulated impairment charges | $ 0 | $ 0 |
Related Party Transactions (Oth
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Duke Energy Carolinas | Corporate governance and shared service expenses | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | $ 134 | $ 212 |
Duke Energy Carolinas | Indemnification coverages | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 5 | 5 |
Duke Energy Carolinas | JDA | Duke Energy Progress | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 24 | 93 |
Related party transaction, other revenues from transactions with related party | 7 | 23 |
Duke Energy Carolinas | Intercompany natural gas purchases and sales | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 6 | 4 |
Progress Energy | Corporate governance and shared service expenses | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 146 | 176 |
Progress Energy | Indemnification coverages | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 9 | 9 |
Progress Energy | JDA | Duke Energy Carolinas | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 7 | 23 |
Related party transaction, other revenues from transactions with related party | 24 | 93 |
Progress Energy | Intercompany natural gas purchases and sales | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 19 | 19 |
Duke Energy Progress | Corporate governance and shared service expenses | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 75 | 106 |
Duke Energy Progress | Indemnification coverages | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 4 | 4 |
Duke Energy Progress | JDA | Duke Energy Carolinas | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 7 | 23 |
Related party transaction, other revenues from transactions with related party | 24 | 93 |
Duke Energy Progress | Intercompany natural gas purchases and sales | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 19 | 19 |
Duke Energy Florida | Corporate governance and shared service expenses | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 71 | 70 |
Duke Energy Florida | Indemnification coverages | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 5 | 5 |
Duke Energy Ohio | Corporate governance and shared service expenses | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 84 | 85 |
Duke Energy Ohio | Indemnification coverages | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 1 | 1 |
Duke Energy Indiana | Corporate governance and shared service expenses | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 106 | 97 |
Duke Energy Indiana | Indemnification coverages | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 2 | 2 |
Piedmont Natural Gas | Corporate governance and shared service expenses | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 34 | 32 |
Piedmont Natural Gas | Indemnification coverages | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | 1 | 1 |
Piedmont Natural Gas | Intercompany natural gas purchases and sales | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, other revenues from transactions with related party | 25 | 23 |
Piedmont Natural Gas | Natural gas storage and transportation costs | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Related party transaction, expenses from transactions with related party | $ 6 | $ 5 |
Related Party Transactions (Int
Related Party Transactions (Intercompany Income Taxes) (Details) - Affiliated Entity - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Duke Energy Carolinas | ||
Related Party Transaction [Line Items] | ||
Income tax payable | $ 44 | $ 5 |
Progress Energy | ||
Related Party Transaction [Line Items] | ||
Income taxes receivable | 114 | 125 |
Duke Energy Progress | ||
Related Party Transaction [Line Items] | ||
Income taxes receivable | 1 | 28 |
Duke Energy Florida | ||
Related Party Transaction [Line Items] | ||
Income taxes receivable | 4 | |
Income tax payable | 2 | |
Duke Energy Ohio | ||
Related Party Transaction [Line Items] | ||
Income taxes receivable | 9 | |
Duke Energy Indiana | ||
Related Party Transaction [Line Items] | ||
Income taxes receivable | 28 | |
Income tax payable | 6 | |
Piedmont Natural Gas | ||
Related Party Transaction [Line Items] | ||
Income taxes receivable | $ 13 | |
Income tax payable | $ 10 |
Derivatives and Hedging (Notion
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details) Mcf in Millions, $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020USD ($)GWhMcf | Dec. 31, 2019USD ($)GWhMcf | |
Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 3,018 | $ 2,270 |
Commodity contracts | Electricity (GWh) | ||
Derivative [Line Items] | ||
Notional amount, energy measure (in gigawatt-hours) | GWh | 6,737 | 15,858 |
Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of decatherms) | Mcf | 709 | 704 |
Designated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 991 | $ 993 |
Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | 2,027 | 1,277 |
VIE primary beneficiary | Designated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | 691 | 693 |
Duke Energy Carolinas | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 400 | $ 450 |
Duke Energy Carolinas | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of decatherms) | Mcf | 145 | 130 |
Duke Energy Carolinas | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 400 | $ 450 |
Progress Energy | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 1,600 | $ 800 |
Progress Energy | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of decatherms) | Mcf | 158 | 160 |
Progress Energy | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 1,600 | $ 800 |
Duke Energy Progress | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 1,050 | $ 250 |
Duke Energy Progress | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of decatherms) | Mcf | 158 | 160 |
Duke Energy Progress | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 1,050 | $ 250 |
Duke Energy Florida | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | 550 | 550 |
Duke Energy Florida | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | 550 | 550 |
Duke Energy Ohio | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 27 | $ 27 |
Duke Energy Ohio | Commodity contracts | Electricity (GWh) | ||
Derivative [Line Items] | ||
Notional amount, energy measure (in gigawatt-hours) | GWh | 977 | 1,887 |
Duke Energy Ohio | Undesignated contracts | Interest Rate Contracts | ||
Derivative [Line Items] | ||
Notional amount | $ 27 | $ 27 |
Duke Energy Indiana | Commodity contracts | Electricity (GWh) | ||
Derivative [Line Items] | ||
Notional amount, energy measure (in gigawatt-hours) | GWh | 5,760 | 13,971 |
Duke Energy Indiana | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of decatherms) | Mcf | 4 | 3 |
Piedmont Natural Gas | Commodity contracts | Natural gas (millions of dekatherms) | ||
Derivative [Line Items] | ||
Notional amount, volume (in millions of decatherms) | Mcf | 402 | 411 |
Derivatives and Hedging (Narrat
Derivatives and Hedging (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | |
Apr. 30, 2020 | Mar. 31, 2020 | |
Call option | ||
Derivative [Line Items] | ||
Aggregate notional amount | 305,000 | |
Put option | ||
Derivative [Line Items] | ||
Aggregate notional amount | 305,000 | |
Not Designated as Hedging Instruments | Duke Energy Florida | Equity Securities Contracts | Subsequent event | ||
Derivative [Line Items] | ||
Proceeds liquidation of options | $ 7 |
Derivatives and Hedging (Locati
Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Condensed Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $ 34 | $ 25 |
Location and fair value amounts of derivatives (Liability) | 390 | 300 |
Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 9 | 24 |
Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 25 | 1 |
Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 178 | 118 |
Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 212 | 182 |
Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 10 | 18 |
Location and fair value amounts of derivatives (Liability) | 209 | 223 |
Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | 6 |
Location and fair value amounts of derivatives (Liability) | 181 | 53 |
Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | 1 |
Location and fair value amounts of derivatives (Liability) | 24 | |
Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | 17 |
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | 1 |
Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 79 | 67 |
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 130 | 156 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 6 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 30 | 8 |
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 28 | 5 |
Not Designated as Hedging Instruments | Equity Securities Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Not Designated as Hedging Instruments | Equity Securities Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | |
Not Designated as Hedging Instruments | Equity Securities Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 69 | 19 |
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 54 | 21 |
Duke Energy Carolinas | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 74 | 49 |
Duke Energy Carolinas | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Carolinas | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 40 | 39 |
Duke Energy Carolinas | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 34 | 10 |
Duke Energy Carolinas | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Location and fair value amounts of derivatives (Liability) | 51 | 43 |
Duke Energy Carolinas | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 23 | 6 |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 40 | 33 |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 11 | 10 |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | |
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 23 | |
Progress Energy | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 25 | 7 |
Location and fair value amounts of derivatives (Liability) | 95 | 88 |
Progress Energy | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 7 |
Progress Energy | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 22 | |
Progress Energy | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 60 | 51 |
Progress Energy | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 35 | 37 |
Progress Energy | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 66 | 63 |
Progress Energy | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | 6 |
Location and fair value amounts of derivatives (Liability) | 29 | 1 |
Progress Energy | Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | 1 |
Location and fair value amounts of derivatives (Liability) | 24 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 31 | 26 |
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 35 | 37 |
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 6 |
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 29 | 1 |
Progress Energy | Not Designated as Hedging Instruments | Equity Securities Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Progress Energy | Not Designated as Hedging Instruments | Equity Securities Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | |
Progress Energy | Not Designated as Hedging Instruments | Equity Securities Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Progress | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 5 | |
Location and fair value amounts of derivatives (Liability) | 51 | 49 |
Duke Energy Progress | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Duke Energy Progress | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | |
Duke Energy Progress | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 31 | 27 |
Duke Energy Progress | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 20 | 22 |
Duke Energy Progress | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Location and fair value amounts of derivatives (Liability) | 51 | 48 |
Duke Energy Progress | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 4 | |
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 31 | 26 |
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 20 | 22 |
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Florida | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | 7 |
Location and fair value amounts of derivatives (Liability) | 29 | 24 |
Duke Energy Florida | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 7 | |
Duke Energy Florida | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | |
Duke Energy Florida | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 29 | 24 |
Duke Energy Florida | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Location and fair value amounts of derivatives (Liability) | 29 | |
Duke Energy Florida | Equity Securities Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | 1 |
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 6 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 29 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Equity Securities Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Equity Securities Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 20 | |
Duke Energy Florida | Not Designated as Hedging Instruments | Equity Securities Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 24 | |
Duke Energy Ohio | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 4 |
Location and fair value amounts of derivatives (Liability) | 7 | 6 |
Duke Energy Ohio | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Duke Energy Ohio | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 1 |
Duke Energy Ohio | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Ohio | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | 5 |
Duke Energy Ohio | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 4 |
Duke Energy Ohio | Interest Rate Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 7 | 6 |
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | |
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 1 | 1 |
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | 1 |
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 6 | 5 |
Duke Energy Indiana | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 13 |
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Indiana | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 13 |
Duke Energy Indiana | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Indiana | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 13 |
Location and fair value amounts of derivatives (Liability) | 1 | |
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 2 | 13 |
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 1 | |
Piedmont Natural Gas | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 1 |
Location and fair value amounts of derivatives (Liability) | 91 | 117 |
Piedmont Natural Gas | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 1 |
Piedmont Natural Gas | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 8 | 7 |
Piedmont Natural Gas | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 83 | 110 |
Piedmont Natural Gas | Commodity Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 1 |
Location and fair value amounts of derivatives (Liability) | 91 | 117 |
Piedmont Natural Gas | Not Designated as Hedging Instruments | Commodity Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 3 | 1 |
Piedmont Natural Gas | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 8 | 7 |
Piedmont Natural Gas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Liability) | 83 | 110 |
Piedmont Natural Gas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | 0 | |
Piedmont Natural Gas | Not Designated as Hedging Instruments | Equity Securities Contracts | Current assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $ 0 | |
Piedmont Natural Gas | Not Designated as Hedging Instruments | Equity Securities Contracts | Noncurrent assets | ||
Derivatives, Fair Value [Line Items] | ||
Location and fair value amounts of derivatives (Asset) | $ 0 |
Derivatives and Hedging (Schedu
Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | $ 34 | $ 25 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 34 | 25 |
Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 9 | 24 |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 9 | 23 |
Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 25 | 1 |
Gross amounts offset | (3) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 2 | 1 |
Net amounts presented in NDTF | ||
Offsetting Derivative Assets [Abstract] | ||
Net amounts recognized on the Condensed Consolidated Balance Sheet | 20 | |
Duke Energy Carolinas | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 2 | |
Duke Energy Carolinas | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | |
Gross amounts offset | (2) | |
Progress Energy | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 25 | 7 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 25 | 7 |
Progress Energy | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | 7 |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 3 | 6 |
Progress Energy | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 22 | |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | |
Progress Energy | Net amounts presented in NDTF | ||
Offsetting Derivative Assets [Abstract] | ||
Net amounts recognized on the Condensed Consolidated Balance Sheet | 20 | |
Duke Energy Progress | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 5 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 5 | |
Duke Energy Progress | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 3 | |
Duke Energy Progress | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | |
Duke Energy Florida | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 20 | 7 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 7 | |
Duke Energy Florida | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 7 | |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 6 | |
Duke Energy Florida | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 20 | |
Duke Energy Florida | Net amounts presented in NDTF | ||
Offsetting Derivative Assets [Abstract] | ||
Net amounts recognized on the Condensed Consolidated Balance Sheet | 20 | |
Duke Energy Ohio | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 1 | 4 |
Duke Energy Ohio | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 3 | |
Duke Energy Ohio | Noncurrent assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 1 | 1 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | 1 |
Duke Energy Indiana | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | 13 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 2 | 13 |
Duke Energy Indiana | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 2 | 13 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 2 | 13 |
Piedmont Natural Gas | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | 1 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 3 | 1 |
Piedmont Natural Gas | Current assets | ||
Offsetting Derivative Assets [Abstract] | ||
Gross amounts recognized | 3 | 1 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | $ 3 | $ 1 |
Derivatives and Hedging (Sche_2
Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | $ 390 | $ 300 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 390 | 277 |
Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 178 | 118 |
Gross amounts offset | (24) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 178 | 94 |
Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 212 | 182 |
Gross amounts offset | (3) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 209 | 182 |
Duke Energy Carolinas | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 74 | 49 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 74 | 49 |
Duke Energy Carolinas | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 40 | 39 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 40 | 39 |
Duke Energy Carolinas | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 34 | 10 |
Gross amounts offset | (2) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 32 | 10 |
Progress Energy | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 95 | 88 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 95 | 65 |
Progress Energy | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 60 | 51 |
Gross amounts offset | (24) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 60 | 27 |
Progress Energy | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 35 | 37 |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 34 | 37 |
Duke Energy Progress | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 51 | 49 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 51 | 49 |
Duke Energy Progress | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 31 | 27 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 31 | 27 |
Duke Energy Progress | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 20 | 22 |
Gross amounts offset | (1) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 19 | 22 |
Duke Energy Florida | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 29 | 24 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 29 | 1 |
Duke Energy Florida | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 29 | 24 |
Gross amounts offset | (24) | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 29 | |
Duke Energy Ohio | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 7 | 6 |
Duke Energy Ohio | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 1 | 1 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | 1 |
Duke Energy Ohio | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 6 | 5 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 6 | 5 |
Duke Energy Indiana | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 1 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | |
Duke Energy Indiana | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 1 | |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 1 | |
Piedmont Natural Gas | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 91 | 117 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 91 | 117 |
Piedmont Natural Gas | Current liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 8 | 7 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | 8 | 7 |
Piedmont Natural Gas | Noncurrent liabilities | ||
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts recognized | 83 | 110 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | $ 83 | $ 110 |
Derivatives and Hedging (Deriva
Derivatives and Hedging (Derivative Instruments with Credit-Risk Related Contingent Features and Cash Collateral) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | $ 96 | $ 79 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 96 | 79 |
Duke Energy Carolinas | ||
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 45 | 35 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 45 | 35 |
Progress Energy | ||
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 51 | 44 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | 51 | 44 |
Duke Energy Progress | ||
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features | ||
Aggregate fair value of derivatives in a net liability position | 51 | 44 |
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered | $ 51 | $ 44 |
Investments in Debt and Equit_3
Investments in Debt and Equity Securities (Estimated Fair Value of Investments in Debt and Equity Securities) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | $ 2,711 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 2,671 | $ 3,675 |
Unrealized Holding Losses | 193 | 57 |
Estimated Fair Value | 7,511 | 8,562 |
NDTF | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 119 | 101 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 2,499 | 3,523 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 170 | 55 |
Equity securities, FV-NI | 4,488 | 5,661 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 2,540 | 2,469 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 2,629 | 3,609 |
Unrealized Holding Losses | 191 | 57 |
Estimated Fair Value | 7,048 | 8,130 |
Other Investments | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 78 | 52 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 31 | 57 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 1 | |
Equity securities, FV-NI | 95 | 122 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 368 | 310 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 42 | 66 |
Unrealized Holding Losses | 2 | |
Estimated Fair Value | 463 | 432 |
Duke Energy Carolinas | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,181 | |
Duke Energy Carolinas | NDTF | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 33 | 21 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 1,355 | 1,914 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 81 | 8 |
Equity securities, FV-NI | 2,498 | 3,154 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,214 | 1,193 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 1,411 | 1,957 |
Unrealized Holding Losses | 97 | 10 |
Estimated Fair Value | 3,712 | 4,347 |
Progress Energy | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,293 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 1,223 | 1,655 |
Unrealized Holding Losses | 94 | 47 |
Estimated Fair Value | 3,458 | 3,883 |
Progress Energy | NDTF | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 86 | 80 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 1,144 | 1,609 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 89 | 47 |
Equity securities, FV-NI | 1,990 | 2,507 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,326 | 1,276 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 1,218 | 1,652 |
Unrealized Holding Losses | 94 | 47 |
Estimated Fair Value | 3,336 | 3,783 |
Progress Energy | Other Investments | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 69 | 49 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 122 | 100 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 5 | 3 |
Estimated Fair Value | 122 | 100 |
Duke Energy Progress | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 966 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 934 | 1,300 |
Unrealized Holding Losses | 84 | 21 |
Estimated Fair Value | 2,650 | 3,053 |
Duke Energy Progress | NDTF | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 51 | 53 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 881 | 1,258 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 79 | 21 |
Equity securities, FV-NI | 1,631 | 2,077 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 1,017 | 974 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 934 | 1,300 |
Unrealized Holding Losses | 84 | 21 |
Estimated Fair Value | 2,648 | 3,051 |
Duke Energy Progress | Other Investments | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 2 | 2 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 2 | 2 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Estimated Fair Value | 2 | 2 |
Duke Energy Florida | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 327 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 289 | 355 |
Unrealized Holding Losses | 10 | 26 |
Estimated Fair Value | 744 | 787 |
Duke Energy Florida | NDTF | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 35 | 27 |
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 263 | 351 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 10 | 26 |
Equity securities, FV-NI | 359 | 430 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 309 | 302 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 284 | 352 |
Unrealized Holding Losses | 10 | 26 |
Estimated Fair Value | 688 | 732 |
Duke Energy Florida | Other Investments | ||
Available-for-sale Securities | ||
Cash and cash equivalents | 3 | 4 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 56 | 55 |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 5 | 3 |
Estimated Fair Value | 56 | 55 |
Duke Energy Indiana | ||
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 26 | 43 |
Equity Securities, FV-NI, Accumulated Unrealized Loss | 1 | |
Equity securities, FV-NI | 63 | 81 |
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 43 | |
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract] | ||
Unrealized Holding Gains | 27 | 44 |
Unrealized Holding Losses | 2 | |
Estimated Fair Value | 106 | 125 |
Duke Energy Indiana | Other Investments | ||
Equity Securities, FV-NI | ||
Equity securities, FV-NI | 63 | 81 |
Corporate debt securities | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 26 | 37 |
Gross Unrealized Holding Losses | 16 | 1 |
Estimated Fair Value | 642 | 603 |
Corporate debt securities | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | |
Estimated Fair Value | 89 | 67 |
Corporate debt securities | Duke Energy Carolinas | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 15 | 21 |
Gross Unrealized Holding Losses | 12 | 1 |
Estimated Fair Value | 392 | 361 |
Corporate debt securities | Progress Energy | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 11 | 16 |
Gross Unrealized Holding Losses | 4 | |
Estimated Fair Value | 250 | 242 |
Corporate debt securities | Duke Energy Progress | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 11 | 16 |
Gross Unrealized Holding Losses | 4 | |
Estimated Fair Value | 250 | 242 |
Corporate debt securities | Duke Energy Indiana | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 4 | 6 |
Municipal bonds | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 10 | 13 |
Gross Unrealized Holding Losses | 2 | |
Estimated Fair Value | 404 | 368 |
Municipal bonds | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 6 | 4 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 98 | 94 |
Municipal bonds | Duke Energy Carolinas | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 3 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 128 | 96 |
Municipal bonds | Progress Energy | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 7 | 10 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 276 | 272 |
Municipal bonds | Progress Energy | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 5 | 3 |
Estimated Fair Value | 53 | 51 |
Municipal bonds | Duke Energy Progress | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 7 | 10 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 276 | 272 |
Municipal bonds | Duke Energy Florida | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 5 | 3 |
Estimated Fair Value | 53 | 51 |
Municipal bonds | Duke Energy Indiana | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | 1 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 36 | 36 |
U.S. government bonds | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 70 | 33 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 1,212 | 1,256 |
U.S. government bonds | Other Investments | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 5 | 2 |
Estimated Fair Value | 51 | 41 |
U.S. government bonds | Duke Energy Carolinas | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 35 | 16 |
Gross Unrealized Holding Losses | 1 | |
Estimated Fair Value | 502 | 578 |
U.S. government bonds | Progress Energy | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 35 | 17 |
Estimated Fair Value | 710 | 678 |
U.S. government bonds | Duke Energy Progress | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 34 | 16 |
Estimated Fair Value | 436 | 403 |
U.S. government bonds | Duke Energy Florida | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | 1 |
Estimated Fair Value | 274 | 275 |
U.S. government bonds | Duke Energy Indiana | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 3 | 2 |
NDTF equity security contracts | NDTF | ||
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 20 | |
Equity securities, FV-NI | 20 | |
NDTF equity security contracts | Progress Energy | NDTF | ||
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 20 | |
Equity securities, FV-NI | 20 | |
NDTF equity security contracts | Duke Energy Florida | NDTF | ||
Equity Securities, FV-NI | ||
Equity Securities, FV-NI, Accumulated Unrealized Gain | 20 | |
Equity securities, FV-NI | 20 | |
Other debt securities | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 4 | 3 |
Gross Unrealized Holding Losses | 3 | |
Estimated Fair Value | 163 | 141 |
Other debt securities | Other Investments | ||
Debt Securities, Available-for-sale | ||
Estimated Fair Value | 52 | 56 |
Other debt securities | Duke Energy Carolinas | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 3 | 3 |
Gross Unrealized Holding Losses | 3 | |
Estimated Fair Value | 159 | 137 |
Other debt securities | Progress Energy | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | |
Estimated Fair Value | 4 | 4 |
Other debt securities | Duke Energy Progress | NDTF | ||
Debt Securities, Available-for-sale | ||
Gross Unrealized Holding Gains | 1 | |
Estimated Fair Value | $ 4 | $ 4 |
Investments in Debt and Equit_4
Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
FV-NI: | ||
Realized gains | $ 23 | $ 35 |
Realized losses | 65 | 30 |
AFS: | ||
Realized gains | 20 | 10 |
Realized losses | 6 | 11 |
Duke Energy Carolinas | ||
FV-NI: | ||
Realized gains | 9 | 23 |
Realized losses | 45 | 21 |
AFS: | ||
Realized gains | 12 | 9 |
Realized losses | 5 | 10 |
Progress Energy | ||
FV-NI: | ||
Realized gains | 14 | 12 |
Realized losses | 20 | 9 |
AFS: | ||
Realized gains | 5 | 1 |
Realized losses | 1 | 1 |
Duke Energy Progress | ||
FV-NI: | ||
Realized gains | 14 | 10 |
Realized losses | 20 | 8 |
AFS: | ||
Realized gains | 5 | 1 |
Realized losses | $ 1 | $ 1 |
Investments in Debt and Equit_5
Investments in Debt and Equity Securities (Maturities) (Details) $ in Millions | Mar. 31, 2020USD ($) |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | $ 333 |
Due after one through five years | 538 |
Due after five through 10 years | 465 |
Due after 10 years | 1,375 |
Total | 2,711 |
Duke Energy Carolinas | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 25 |
Due after one through five years | 234 |
Due after five through 10 years | 188 |
Due after 10 years | 734 |
Total | 1,181 |
Progress Energy | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 302 |
Due after one through five years | 236 |
Due after five through 10 years | 214 |
Due after 10 years | 541 |
Total | 1,293 |
Duke Energy Progress | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 26 |
Due after one through five years | 227 |
Due after five through 10 years | 207 |
Due after 10 years | 506 |
Total | 966 |
Duke Energy Florida | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 276 |
Due after one through five years | 9 |
Due after five through 10 years | 7 |
Due after 10 years | 35 |
Total | 327 |
Duke Energy Indiana | |
Debt Securities, Available-for-sale [Line Items] | |
Due in one year or less | 3 |
Due after one through five years | 17 |
Due after five through 10 years | 7 |
Due after 10 years | 16 |
Total | $ 43 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | $ 2,711 | |
Derivative assets | 34 | $ 25 |
Total assets | 7,545 | 8,610 |
Derivative liabilities | (390) | (277) |
Net assets (liabilities) | 7,155 | 8,310 |
Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | 3 |
Total assets | 5,431 | 6,675 |
Derivative liabilities | (49) | (15) |
Net assets (liabilities) | 5,382 | 6,660 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 28 | 7 |
Total assets | 2,063 | 1,869 |
Derivative liabilities | (250) | (145) |
Net assets (liabilities) | 1,813 | 1,701 |
Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | 15 |
Total assets | 3 | 15 |
Derivative liabilities | (91) | (117) |
Net assets (liabilities) | (88) | (102) |
Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 48 | 51 |
Net assets (liabilities) | 48 | 51 |
NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 4,488 | 5,684 |
NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 4,440 | 5,633 |
NDTF equity securities | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 48 | 51 |
NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 4,488 | 5,661 |
Debt securities, available-for-sale | 2,540 | 2,469 |
NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 767 | 826 |
NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,773 | 1,643 |
Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 95 | 122 |
Debt securities, available-for-sale | 368 | 310 |
Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 95 | 122 |
Debt securities, available-for-sale | 126 | 91 |
Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 242 | 219 |
NDTF equity security contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | |
Derivative liabilities | (23) | |
NDTF equity security contracts | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | |
Derivative liabilities | (23) | |
Duke Energy Carolinas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,181 | |
Derivative assets | 2 | |
Total assets | 3,714 | 4,347 |
Derivative liabilities | (74) | (49) |
Net assets (liabilities) | 3,640 | 4,298 |
Duke Energy Carolinas | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 2,632 | 3,330 |
Net assets (liabilities) | 2,632 | 3,330 |
Duke Energy Carolinas | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | |
Total assets | 1,034 | 966 |
Derivative liabilities | (74) | (49) |
Net assets (liabilities) | 960 | 917 |
Duke Energy Carolinas | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 48 | 51 |
Net assets (liabilities) | 48 | 51 |
Duke Energy Carolinas | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,498 | 3,154 |
Duke Energy Carolinas | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,450 | 3,103 |
Duke Energy Carolinas | NDTF equity securities | Not Categorized | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 48 | 51 |
Duke Energy Carolinas | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 2,498 | 3,154 |
Debt securities, available-for-sale | 1,214 | 1,193 |
Duke Energy Carolinas | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 182 | 227 |
Duke Energy Carolinas | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,032 | 966 |
Progress Energy | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 1,293 | |
Derivative assets | 25 | 7 |
Total assets | 3,483 | 3,913 |
Derivative liabilities | (95) | (65) |
Net assets (liabilities) | 3,388 | 3,825 |
Progress Energy | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 2,644 | 3,178 |
Net assets (liabilities) | 2,644 | 3,178 |
Progress Energy | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 25 | 7 |
Total assets | 839 | 735 |
Derivative liabilities | (95) | (65) |
Net assets (liabilities) | 744 | 647 |
Progress Energy | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 1,990 | 2,530 |
Progress Energy | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 1,990 | 2,530 |
Progress Energy | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 1,990 | 2,507 |
Debt securities, available-for-sale | 1,326 | 1,276 |
Progress Energy | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 585 | 599 |
Progress Energy | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 741 | 677 |
Progress Energy | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 122 | 100 |
Progress Energy | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 69 | 49 |
Progress Energy | Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 53 | 51 |
Progress Energy | NDTF equity security contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | |
Derivative liabilities | (23) | |
Progress Energy | NDTF equity security contracts | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | |
Derivative liabilities | (23) | |
Duke Energy Progress | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 966 | |
Derivative assets | 5 | |
Total assets | 2,655 | 3,053 |
Derivative liabilities | (51) | (49) |
Net assets (liabilities) | 2,604 | 3,004 |
Duke Energy Progress | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 1,909 | 2,376 |
Net assets (liabilities) | 1,909 | 2,376 |
Duke Energy Progress | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 5 | |
Total assets | 746 | 677 |
Derivative liabilities | (51) | (49) |
Net assets (liabilities) | 695 | 628 |
Duke Energy Progress | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 1,631 | 2,077 |
Duke Energy Progress | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 1,631 | 2,077 |
Duke Energy Progress | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 1,631 | 2,077 |
Debt securities, available-for-sale | 1,017 | 974 |
Duke Energy Progress | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 276 | 297 |
Duke Energy Progress | NDTF | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 741 | 677 |
Duke Energy Progress | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 2 | 2 |
Duke Energy Progress | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 2 | 2 |
Duke Energy Florida | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 327 | |
Derivative assets | 7 | |
Total assets | 744 | 817 |
Derivative liabilities | (29) | (1) |
Net assets (liabilities) | 715 | 793 |
Duke Energy Florida | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 671 | 759 |
Net assets (liabilities) | 671 | 759 |
Duke Energy Florida | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 7 | |
Total assets | 73 | 58 |
Derivative liabilities | (29) | (1) |
Net assets (liabilities) | 44 | 34 |
Duke Energy Florida | NDTF equity securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 359 | 453 |
Duke Energy Florida | NDTF equity securities | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 359 | 453 |
Duke Energy Florida | NDTF | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 359 | 430 |
Debt securities, available-for-sale | 309 | 302 |
Duke Energy Florida | NDTF | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 309 | 302 |
Duke Energy Florida | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 56 | 55 |
Duke Energy Florida | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 3 | 4 |
Duke Energy Florida | Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 53 | 51 |
Duke Energy Florida | NDTF equity security contracts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | |
Derivative liabilities | (23) | |
Duke Energy Florida | NDTF equity security contracts | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 20 | |
Derivative liabilities | (23) | |
Duke Energy Indiana | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 63 | 81 |
Debt securities, available-for-sale | 43 | |
Derivative assets | 2 | 13 |
Total assets | 108 | 138 |
Derivative liabilities | (1) | |
Net assets (liabilities) | 108 | 137 |
Duke Energy Indiana | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | |
Total assets | 63 | 83 |
Derivative liabilities | 0 | (1) |
Net assets (liabilities) | 63 | 82 |
Duke Energy Indiana | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 43 | 44 |
Net assets (liabilities) | 43 | 44 |
Duke Energy Indiana | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | 11 |
Total assets | 2 | 11 |
Net assets (liabilities) | 2 | 11 |
Duke Energy Indiana | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 63 | 81 |
Duke Energy Indiana | Other Investments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Equity securities, FV-NI | 63 | 81 |
Piedmont Natural Gas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | 1 |
Derivative liabilities | (91) | (117) |
Net assets (liabilities) | (88) | (116) |
Piedmont Natural Gas | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 3 | 1 |
Net assets (liabilities) | 3 | 1 |
Piedmont Natural Gas | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liabilities | (91) | (117) |
Net assets (liabilities) | (91) | (117) |
Debt Securities | Duke Energy Indiana | Other Investments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | 43 | 44 |
Debt Securities | Duke Energy Indiana | Other Investments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt securities, available-for-sale | $ 43 | $ 44 |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation of Assets and Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Derivatives (net) | ||
Balance at beginning of period | $ (102) | $ (113) |
Purchases, sales, issuances and settlements: | ||
Settlements | (9) | (12) |
Total gains included on the Condensed Consolidated Balance Sheet | 23 | 10 |
Balance at end of period | (88) | (115) |
Duke Energy Indiana | ||
Derivatives (net) | ||
Balance at beginning of period | 11 | 22 |
Purchases, sales, issuances and settlements: | ||
Settlements | (6) | (10) |
Total gains included on the Condensed Consolidated Balance Sheet | (3) | (7) |
Balance at end of period | 2 | 5 |
Piedmont Natural Gas | ||
Derivatives (net) | ||
Balance at beginning of period | (117) | (141) |
Purchases, sales, issuances and settlements: | ||
Total gains and settlements | 26 | 20 |
Balance at end of period | $ (91) | $ (121) |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosures) (Details) $ in Millions | Mar. 31, 2020USD ($)$ / MWh$ / MMBTU | Dec. 31, 2019USD ($)$ / MWh$ / MMBTU | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Fair Value Measurement Inputs and Valuation Techniques | ||||
Net derivative asset (liability) | $ | $ (88) | $ (102) | $ (115) | $ (113) |
Duke Energy Ohio | FTRs | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Net derivative asset (liability) | $ | $ 1 | $ 4 | ||
Duke Energy Ohio | FTRs | Minimum | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MWh | 0.04 | 0.59 | ||
Duke Energy Ohio | FTRs | Maximum | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MWh | 3.29 | 3.47 | ||
Duke Energy Ohio | FTRs | Weighted Average | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MWh | 1.03 | 2.07 | ||
Duke Energy Indiana | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Net derivative asset (liability) | $ | $ 2 | $ 11 | 5 | 22 |
Duke Energy Indiana | FTRs | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Net derivative asset (liability) | $ | $ 2 | $ 11 | ||
Duke Energy Indiana | FTRs | Minimum | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MWh | (0.37) | (0.66) | ||
Duke Energy Indiana | FTRs | Maximum | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MWh | 6.06 | 9.24 | ||
Duke Energy Indiana | FTRs | Weighted Average | RTO auction pricing | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MWh | 0.54 | 1.15 | ||
Piedmont Natural Gas | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Net derivative asset (liability) | $ | $ (91) | $ (117) | $ (121) | $ (141) |
Piedmont Natural Gas | Natural gas contracts | Discounted cash flow | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Net derivative asset (liability) | $ | $ (91) | $ (117) | ||
Piedmont Natural Gas | Natural gas contracts | Minimum | Discounted cash flow | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MMBTU | 1.64 | 1.59 | ||
Piedmont Natural Gas | Natural gas contracts | Maximum | Discounted cash flow | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MMBTU | 2.41 | 2.46 | ||
Piedmont Natural Gas | Natural gas contracts | Weighted Average | Discounted cash flow | ||||
Fair Value Measurement Inputs and Valuation Techniques | ||||
Input measurements (in usd per MWh and usd per MMBtu) | $ / MMBTU | 1.94 | 1.91 |
Fair Value Measurements (Other
Fair Value Measurements (Other Fair Value Disclosure) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | $ 61,388 | $ 58,126 |
Long-term debt, fair value | 65,644 | 63,062 |
Piedmont Natural Gas and Progress Energy [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Unamortized debt discount (premium), net | 1,400 | 1,500 |
Duke Energy Carolinas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 12,807 | 11,900 |
Long-term debt, fair value | 14,312 | 13,516 |
Progress Energy | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 19,355 | 19,634 |
Long-term debt, fair value | 21,802 | 22,291 |
Duke Energy Progress | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 9,059 | 9,058 |
Long-term debt, fair value | 9,798 | 9,934 |
Duke Energy Florida | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 7,706 | 7,987 |
Long-term debt, fair value | 8,831 | 9,131 |
Duke Energy Ohio | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 2,620 | 2,619 |
Long-term debt, fair value | 2,904 | 2,964 |
Duke Energy Indiana | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 4,603 | 4,057 |
Long-term debt, fair value | 5,433 | 4,800 |
Piedmont Natural Gas | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, book value | 2,385 | 2,384 |
Long-term debt, fair value | $ 2,551 | $ 2,642 |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - USD ($) | Mar. 31, 2018 | Mar. 31, 2020 | Dec. 31, 2019 |
Variable Interest Entities [Line Items] | |||
Investments in equity method unconsolidated affiliates | $ 2,067,000,000 | $ 1,936,000,000 | |
VIE primary beneficiary | |||
Variable Interest Entities [Line Items] | |||
Variable interest entity, financial or other support, amount | 0 | 0 | |
VIE not primary beneficiary | |||
Variable Interest Entities [Line Items] | |||
Investments in equity method unconsolidated affiliates | 1,614,000,000 | 1,479,000,000 | |
FES | |||
Variable Interest Entities [Line Items] | |||
Power participation ratio | 4.85% | ||
ACP | VIE not primary beneficiary | |||
Variable Interest Entities [Line Items] | |||
Investments in equity method unconsolidated affiliates | 1,243,000,000 | $ 1,179,000,000 | |
ACP | Financial guarantee | |||
Variable Interest Entities [Line Items] | |||
Maximum potential amount of future payments associated with guarantees | $ 845,000,000 | ||
Percentage of potential amount of future payments associated with guarantees as percent of outstanding borrowings | 47.00% | ||
CRC | VIE primary beneficiary | |||
Variable Interest Entities [Line Items] | |||
Percent of proceeds received as cash | 75.00% | ||
Percent of proceeds received as subordinated note | 25.00% | ||
Minimum equity balance required by Cinergy Receivables | $ 3,000,000 | ||
OVEC | VIE not primary beneficiary | |||
Variable Interest Entities [Line Items] | |||
Variable interest entity ownership interest | 9.00% |
Variable Interest Entities (Sch
Variable Interest Entities (Schedule of Accounts Receivable Securitizations) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Variable Interest Entities [Line Items] | ||
Long-Term Debt | $ 56,311 | $ 54,985 |
Duke Energy Carolinas | ||
Variable Interest Entities [Line Items] | ||
Long-Term Debt | 12,050 | 11,142 |
Duke Energy Progress | ||
Variable Interest Entities [Line Items] | ||
Long-Term Debt | 7,903 | 7,902 |
Duke Energy Florida | ||
Variable Interest Entities [Line Items] | ||
Long-Term Debt | 7,384 | 7,416 |
CRC | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 350 | |
Long-Term Debt | 350 | 350 |
Accounts receivable from securitization | 467 | 522 |
DERF | Duke Energy Carolinas | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 475 | |
Long-Term Debt | 475 | 474 |
Accounts receivable from securitization | 616 | 642 |
DEPR | Duke Energy Progress | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 375 | |
Long-Term Debt | 325 | 325 |
Accounts receivable from securitization | 410 | 489 |
DEFR | Duke Energy Florida | VIE primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Facility size | 250 | |
Long-Term Debt | 250 | 250 |
Accounts receivable from securitization | $ 331 | $ 336 |
Variable Interest Entities (S_2
Variable Interest Entities (Schedule of Consolidated VIEs) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Regulatory Assets: Current | $ 1,770 | $ 1,796 |
Current Assets: Other | 1,000 | 764 |
Other Noncurrent Assets: Regulatory assets | 13,413 | 13,222 |
Property, Plant and Equipment: Cost | 149,676 | 147,654 |
Accumulated depreciation and amortization | (46,599) | (45,773) |
Other Noncurrent Assets: Other | 3,315 | 3,289 |
Current Liabilities: Other | 2,004 | 2,367 |
Current maturities of long-term debt | 5,077 | 3,141 |
Long-Term Debt | 56,311 | 54,985 |
Other Noncurrent Liabilities: AROs | 12,497 | 12,437 |
Other Noncurrent Liabilities: Other | 1,669 | 1,581 |
Duke Energy Carolinas | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Regulatory Assets: Current | 524 | 550 |
Current Assets: Other | 31 | 21 |
Other Noncurrent Assets: Regulatory assets | 3,427 | 3,360 |
Property, Plant and Equipment: Cost | 49,534 | 48,922 |
Accumulated depreciation and amortization | (16,884) | (16,525) |
Other Noncurrent Assets: Other | 1,136 | 1,149 |
Current Liabilities: Other | 479 | 611 |
Current maturities of long-term debt | 457 | 458 |
Long-Term Debt | 12,050 | 11,142 |
Other Noncurrent Liabilities: AROs | 5,552 | 5,528 |
Other Noncurrent Liabilities: Other | 640 | 627 |
Duke Energy Progress | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Regulatory Assets: Current | 503 | 526 |
Current Assets: Other | 48 | 60 |
Other Noncurrent Assets: Regulatory assets | 4,392 | 4,152 |
Property, Plant and Equipment: Cost | 34,898 | 34,603 |
Accumulated depreciation and amortization | (12,114) | (11,915) |
Other Noncurrent Assets: Other | 682 | 651 |
Current Liabilities: Other | 429 | 478 |
Current maturities of long-term debt | 1,006 | 1,006 |
Long-Term Debt | 7,903 | 7,902 |
Other Noncurrent Liabilities: AROs | 5,442 | 5,408 |
Other Noncurrent Liabilities: Other | 83 | 92 |
Duke Energy Florida | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Regulatory Assets: Current | 451 | 419 |
Current Assets: Other | 37 | 58 |
Other Noncurrent Assets: Regulatory assets | 2,097 | 2,194 |
Property, Plant and Equipment: Cost | 20,880 | 20,457 |
Accumulated depreciation and amortization | (5,339) | (5,236) |
Other Noncurrent Assets: Other | 329 | 311 |
Current Liabilities: Other | 383 | 415 |
Current maturities of long-term debt | 322 | 571 |
Long-Term Debt | 7,384 | 7,416 |
Other Noncurrent Liabilities: AROs | 578 | 578 |
Other Noncurrent Liabilities: Other | 169 | 136 |
DEFPF | Duke Energy Florida | VIE primary beneficiary | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Receivables of VIEs | 4 | 5 |
Regulatory Assets: Current | 53 | 52 |
Current Assets: Other | 13 | 39 |
Other Noncurrent Assets: Regulatory assets | 980 | 989 |
Current Liabilities: Other | 2 | 10 |
Current maturities of long-term debt | 54 | 54 |
Long-Term Debt | 1,028 | 1,057 |
DERF | Duke Energy Carolinas | VIE primary beneficiary | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Receivables of VIEs | 616 | 642 |
Long-Term Debt | 475 | 474 |
DEPR | Duke Energy Progress | VIE primary beneficiary | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Receivables of VIEs | 410 | 489 |
Long-Term Debt | 325 | 325 |
DEFR | Duke Energy Florida | VIE primary beneficiary | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Receivables of VIEs | 331 | 336 |
Long-Term Debt | 250 | 250 |
CRC | VIE primary beneficiary | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Receivables of VIEs | 467 | 522 |
Long-Term Debt | 350 | 350 |
Commercial Renewables | VIE primary beneficiary | ||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||
Current Assets: Other | 287 | 203 |
Property, Plant and Equipment: Cost | 6,106 | 5,747 |
Accumulated depreciation and amortization | (1,094) | (1,041) |
Other Noncurrent Assets: Other | 82 | 106 |
Current maturities of long-term debt | 162 | 162 |
Long-Term Debt | 1,538 | 1,541 |
Other Noncurrent Liabilities: AROs | 129 | 127 |
Other Noncurrent Liabilities: Other | $ 258 | $ 228 |
Variable Interest Entities (S_3
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Variable Interest Entities [Line Items] | ||
Investments in equity method unconsolidated affiliates | $ 2,067 | $ 1,936 |
Taxes accrued | 493 | 392 |
Current Liabilities: Other | 2,004 | 2,367 |
Deferred income taxes | 9,321 | 8,878 |
Other Noncurrent Liabilities: Other | 1,669 | 1,581 |
VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | (1) | (1) |
Investments in equity method unconsolidated affiliates | 1,614 | 1,479 |
Total assets | 1,613 | 1,478 |
Taxes accrued | (1) | (1) |
Current Liabilities: Other | 3 | 4 |
Deferred income taxes | 69 | 59 |
Other Noncurrent Liabilities: Other | 116 | 11 |
Total liabilities | 187 | 73 |
Net assets | 1,426 | 1,405 |
Pipeline Investments | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Investments in equity method unconsolidated affiliates | 1,243 | 1,179 |
Total assets | 1,243 | 1,179 |
Taxes accrued | (1) | (1) |
Deferred income taxes | 69 | 59 |
Other Noncurrent Liabilities: Other | 105 | |
Total liabilities | 173 | 58 |
Net assets | 1,070 | 1,121 |
Commercial Renewables | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | (1) | (1) |
Investments in equity method unconsolidated affiliates | 371 | 300 |
Total assets | 370 | 299 |
Net assets | 370 | 299 |
Other VIEs | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Current Liabilities: Other | 3 | 4 |
Other Noncurrent Liabilities: Other | 11 | 11 |
Total liabilities | 14 | 15 |
Net assets | (14) | (15) |
Duke Energy Ohio | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | 52 | 92 |
Taxes accrued | 170 | 219 |
Current Liabilities: Other | 68 | 75 |
Deferred income taxes | 942 | 922 |
Other Noncurrent Liabilities: Other | 97 | 94 |
Duke Energy Ohio | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | 39 | 64 |
Total assets | 39 | 64 |
Net assets | 39 | 64 |
Duke Energy Indiana | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | 76 | 79 |
Taxes accrued | 81 | 49 |
Current Liabilities: Other | 92 | 112 |
Deferred income taxes | 1,158 | 1,150 |
Other Noncurrent Liabilities: Other | 30 | 18 |
Duke Energy Indiana | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Receivables from affiliated companies | 48 | 77 |
Total assets | 48 | 77 |
Net assets | $ 48 | $ 77 |
Variable Interest Entities (Pip
Variable Interest Entities (Pipeline Investments) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Variable Interest Entities [Line Items] | ||
Investments in joint ventures | $ 2,067 | $ 1,936 |
VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Investments in joint ventures | $ 1,614 | 1,479 |
ACP | ||
Variable Interest Entities [Line Items] | ||
Ownership percentage | 47.00% | |
ACP | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Investments in joint ventures | $ 1,243 | 1,179 |
Constitution | ||
Variable Interest Entities [Line Items] | ||
Ownership percentage | 24.00% | |
Pipeline Investments | VIE not primary beneficiary | ||
Variable Interest Entities [Line Items] | ||
Investments in joint ventures | $ 1,243 | $ 1,179 |
Variable Interest Entities (Rec
Variable Interest Entities (Receivables Sold) (Details) - VIE not primary beneficiary - CRC - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Duke Energy Ohio | ||
Variable Interest Entities [Line Items] | ||
Receivables sold | $ 234 | $ 253 |
Less: Retained interests | 39 | 64 |
Net receivables sold | 195 | 189 |
Duke Energy Indiana | ||
Variable Interest Entities [Line Items] | ||
Receivables sold | 274 | 307 |
Less: Retained interests | 48 | 77 |
Net receivables sold | $ 226 | $ 230 |
Variable Interest Entities (Sal
Variable Interest Entities (Sales and Cash Flows) (Details) - VIE not primary beneficiary - CRC - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Duke Energy Ohio | ||
Variable Interest Entities [Line Items] | ||
Receivables sold | $ 537 | $ 575 |
Loss recognized on sale | 4 | 4 |
Cash proceeds from receivables sold | 559 | 597 |
Return received on retained interests | 2 | 2 |
Duke Energy Indiana | ||
Variable Interest Entities [Line Items] | ||
Receivables sold | 647 | 734 |
Loss recognized on sale | 4 | 5 |
Cash proceeds from receivables sold | 672 | 758 |
Return received on retained interests | $ 2 | $ 3 |
Revenue (Remaining Performance
Revenue (Remaining Performance Obligations) (Details) $ in Millions | Mar. 31, 2020USD ($) |
Progress Energy | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 410 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 9 months |
Revenue, remaining performance obligation, amount | $ 84 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 92 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 87 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 44 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 45 |
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | |
Revenue, remaining performance obligation, amount | $ 58 |
Duke Energy Progress | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 38 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 9 months |
Revenue, remaining performance obligation, amount | $ 6 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 8 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 8 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 8 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 8 |
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | |
Duke Energy Florida | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 372 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 9 months |
Revenue, remaining performance obligation, amount | $ 78 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 84 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 79 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 36 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 37 |
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | |
Revenue, remaining performance obligation, amount | $ 58 |
Duke Energy Indiana | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 13 |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 9 months |
Revenue, remaining performance obligation, amount | $ 8 |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 5 |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | |
Piedmont Natural Gas | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 675 |
Piedmont Natural Gas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 9 months |
Revenue, remaining performance obligation, amount | $ 51 |
Piedmont Natural Gas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 65 |
Piedmont Natural Gas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 64 |
Piedmont Natural Gas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 61 |
Piedmont Natural Gas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation, amount | $ 58 |
Piedmont Natural Gas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | |
Revenue, remaining performance obligation, amount | $ 376 |
Revenue (Remaining Performanc_2
Revenue (Remaining Performance Obligations Total) (Details) (Details) $ in Millions | Mar. 31, 2020USD ($) |
Progress Energy | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 410 |
Duke Energy Progress | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 38 |
Duke Energy Florida [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 372 |
Duke Energy Indiana | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | 13 |
Piedmont Natural Gas | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, amount | $ 675 |
Revenue (Disaggregation of Reve
Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 5,800 | $ 5,998 |
Revenue from sources other than contracts with customers | 149 | 165 |
Total operating revenues | 5,949 | 6,163 |
Electric Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,134 | 5,221 |
Total operating revenues | 5,174 | 5,321 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2,261 | 2,370 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,492 | 1,427 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 693 | 711 |
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 497 | 541 |
Electric Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 191 | 172 |
Gas Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 602 | 731 |
Total operating revenues | 640 | 732 |
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 362 | 414 |
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 169 | 206 |
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 41 | 48 |
Gas Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 30 | 63 |
Commercial Renewables | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 58 | 42 |
Total operating revenues | 129 | 106 |
Other | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 6 | 4 |
Total operating revenues | 6 | 4 |
Duke Energy Carolinas | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,748 | 1,719 |
Revenue from sources other than contracts with customers | 25 | |
Total operating revenues | 1,748 | 1,744 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,748 | 1,719 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 756 | 760 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 549 | 496 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 269 | 266 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 114 | 119 |
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 60 | 78 |
Progress Energy | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2,367 | 2,493 |
Revenue from sources other than contracts with customers | 55 | 79 |
Total operating revenues | 2,422 | 2,572 |
Progress Energy | Electric Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2,367 | 2,493 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,064 | 1,114 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 648 | 632 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 216 | 222 |
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 321 | 353 |
Progress Energy | Electric Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 118 | 172 |
Duke Energy Progress | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,317 | 1,443 |
Revenue from sources other than contracts with customers | 21 | 41 |
Total operating revenues | 1,338 | 1,484 |
Duke Energy Progress | Electric Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,317 | 1,443 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 502 | 536 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 319 | 306 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 154 | 161 |
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 279 | 315 |
Duke Energy Progress | Electric Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 63 | 125 |
Duke Energy Florida | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,050 | 1,050 |
Revenue from sources other than contracts with customers | 30 | 36 |
Total operating revenues | 1,080 | 1,086 |
Duke Energy Florida | Electric Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,050 | 1,050 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 562 | 578 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 329 | 326 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 62 | 61 |
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 42 | 38 |
Duke Energy Florida | Electric Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 55 | 47 |
Duke Energy Ohio | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 504 | 531 |
Revenue from sources other than contracts with customers | (6) | |
Total operating revenues | 498 | 531 |
Duke Energy Ohio | Electric Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 352 | 355 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 176 | 189 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 114 | 103 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 35 | 33 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 7 | 14 |
Duke Energy Ohio | Electric Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 20 | 16 |
Duke Energy Ohio | Gas Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 152 | 176 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 97 | 112 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 43 | 49 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 6 | 7 |
Duke Energy Ohio | Gas Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 6 | 8 |
Duke Energy Indiana | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 692 | 764 |
Revenue from sources other than contracts with customers | 4 | |
Total operating revenues | 692 | 768 |
Duke Energy Indiana | Electric Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 692 | 764 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 265 | 306 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 181 | 197 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 175 | 190 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 55 | 54 |
Duke Energy Indiana | Electric Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 16 | 17 |
Duke Energy Indiana | Gas Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 0 | |
Piedmont Natural Gas | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 461 | 570 |
Revenue from sources other than contracts with customers | 51 | 9 |
Total operating revenues | 512 | 579 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 461 | 570 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 264 | 302 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 126 | 157 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 36 | 42 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 11 | 13 |
Piedmont Natural Gas | Gas Utilities and Infrastructure | Other revenues | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 24 | $ 56 |
Revenue (Reserve for Credit Los
Revenue (Reserve for Credit Losses for Trade and Other Receivables) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | $ 76 |
Cumulative Change in Accounting Principle | 89 |
Write-Offs | (10) |
Credit Loss Expense | 18 |
Balance at March 31, 2020 | 89 |
Duke Energy Carolinas | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 10 |
Cumulative Change in Accounting Principle | 11 |
Write-Offs | (3) |
Credit Loss Expense | 3 |
Balance at March 31, 2020 | 11 |
Progress Energy | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 16 |
Cumulative Change in Accounting Principle | 20 |
Write-Offs | (4) |
Credit Loss Expense | 6 |
Balance at March 31, 2020 | 20 |
Duke Energy Progress | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 8 |
Cumulative Change in Accounting Principle | 9 |
Write-Offs | (2) |
Credit Loss Expense | 2 |
Balance at March 31, 2020 | 9 |
Duke Energy Florida | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 7 |
Cumulative Change in Accounting Principle | 11 |
Write-Offs | (2) |
Credit Loss Expense | 5 |
Balance at March 31, 2020 | 11 |
Duke Energy Ohio | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 4 |
Cumulative Change in Accounting Principle | 5 |
Credit Loss Expense | 1 |
Balance at March 31, 2020 | 5 |
Duke Energy Indiana | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 3 |
Cumulative Change in Accounting Principle | 3 |
Balance at March 31, 2020 | 3 |
Piedmont Natural Gas | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 6 |
Cumulative Change in Accounting Principle | 9 |
Write-Offs | (1) |
Credit Loss Expense | 3 |
Balance at March 31, 2020 | 9 |
Cumulative Change in Accounting Principle | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 5 |
Cumulative Change in Accounting Principle | 5 |
Cumulative Change in Accounting Principle | Duke Energy Carolinas | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 1 |
Cumulative Change in Accounting Principle | 1 |
Cumulative Change in Accounting Principle | Progress Energy | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 2 |
Cumulative Change in Accounting Principle | 2 |
Cumulative Change in Accounting Principle | Duke Energy Progress | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 1 |
Cumulative Change in Accounting Principle | 1 |
Cumulative Change in Accounting Principle | Duke Energy Florida | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 1 |
Cumulative Change in Accounting Principle | 1 |
Cumulative Change in Accounting Principle | Piedmont Natural Gas | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019 | 1 |
Cumulative Change in Accounting Principle | $ 1 |
Revenue (Aging of Trade Receiva
Revenue (Aging of Trade Receivables) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | $ 716 | $ 843 |
Trade and Other Receivables, not past due | 1,584 | |
Trade and Other Receivables | 2,726 | |
30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 216 | |
60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 65 | |
90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 145 | |
Duke Energy Carolinas | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 285 | 298 |
Trade and Other Receivables, not past due | 448 | |
Trade and Other Receivables | 839 | |
Duke Energy Carolinas | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 69 | |
Duke Energy Carolinas | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 18 | |
Duke Energy Carolinas | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 19 | |
Progress Energy | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 195 | 217 |
Trade and Other Receivables, not past due | 585 | |
Trade and Other Receivables | 924 | |
Progress Energy | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 67 | |
Progress Energy | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 20 | |
Progress Energy | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 57 | |
Duke Energy Progress | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 85 | 122 |
Trade and Other Receivables, not past due | 321 | |
Trade and Other Receivables | 496 | |
Duke Energy Progress | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 44 | |
Duke Energy Progress | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 14 | |
Duke Energy Progress | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 32 | |
Duke Energy Florida | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 110 | 95 |
Trade and Other Receivables, not past due | 262 | |
Trade and Other Receivables | 426 | |
Duke Energy Florida | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 23 | |
Duke Energy Florida | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 6 | |
Duke Energy Florida | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 25 | |
Duke Energy Ohio | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 1 | 1 |
Trade and Other Receivables, not past due | 45 | |
Trade and Other Receivables | 89 | |
Duke Energy Ohio | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 9 | |
Duke Energy Ohio | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 2 | |
Duke Energy Ohio | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 32 | |
Duke Energy Indiana | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 16 | 16 |
Trade and Other Receivables, not past due | 24 | |
Trade and Other Receivables | 53 | |
Duke Energy Indiana | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 1 | |
Duke Energy Indiana | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 1 | |
Duke Energy Indiana | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 11 | |
Piedmont Natural Gas | ||
Financing Receivable, Past Due [Line Items] | ||
Unbilled Receivables | 32 | $ 78 |
Trade and Other Receivables, not past due | 134 | |
Trade and Other Receivables | 200 | |
Piedmont Natural Gas | 30-60 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 18 | |
Piedmont Natural Gas | 60-90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | 5 | |
Piedmont Natural Gas | 90 days | ||
Financing Receivable, Past Due [Line Items] | ||
Trade and Other Receivables | $ 11 |
Revenue (Unbilled Revenues) (De
Revenue (Unbilled Revenues) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | $ 716 | $ 843 |
Duke Energy Carolinas | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 285 | 298 |
Progress Energy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 195 | 217 |
Duke Energy Progress | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 85 | 122 |
Duke Energy Florida | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 110 | 95 |
Duke Energy Ohio | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 1 | 1 |
Duke Energy Indiana | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 16 | 16 |
Piedmont Natural Gas | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 32 | 78 |
CRC | Duke Energy Ohio | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | 61 | 82 |
CRC | Duke Energy Indiana | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unbilled Receivables | $ 94 | $ 115 |
Stockholders' Equity (Earnings
Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Class of Stock [Line Items] | ||
Income from continuing operations available to Duke Energy common stockholders excluding impact of participating securities and including accumulated preferred stock dividends adjustment | $ 911 | $ 898 |
Weighted average common shares outstanding – basic (in shares) | 734 | 727 |
Equity Forwards (in shares) | 2 | |
Weighted average common shares outstanding – diluted (in shares) | 736 | 727 |
Basic and diluted (in usd per share) | $ 1.24 | $ 1.24 |
Potentially dilutive items excluded from the calculation (in shares) | 2 | 2 |
Common Stock | ||
Class of Stock [Line Items] | ||
Dividends declared per common share (in usd per share) | $ 0.945 | $ 0.9275 |
Preferred stock, Series A | ||
Class of Stock [Line Items] | ||
Dividends declared on preferred stock per depositary share (in usd per share) | $ 0.359 | |
Cumulative dividend rate per annum | 5.75% | |
Price per share (in usd per share) | $ 25 | |
Preferred stock, Series B | ||
Class of Stock [Line Items] | ||
Dividends declared on preferred stock per depositary share (in usd per share) | $ 24.917 | |
Cumulative dividend rate per annum | 4.875% | |
Liquidation preference per share (in usd per share) | $ 1,000 |
Stockholders' Equity (Common St
Stockholders' Equity (Common Stock) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Billions | 1 Months Ended | |
Mar. 31, 2020 | Nov. 30, 2019 | |
Forward Contract Indexed to Issuer's Equity [Line Items] | ||
Maximum value of shares to be issued under ATM program | $ 1.5 | |
Equity forwards | ||
Forward Contract Indexed to Issuer's Equity [Line Items] | ||
Shares offered | 940 | 28,750 |
Forward contract indexed to issuer's equity, forward rate per share | $ 89.76 | $ 85.99 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - Qualified Pension Plans - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | $ 41 | $ 37 |
Interest cost on projected benefit obligation | 67 | 83 |
Expected return on plan assets | (143) | (143) |
Amortization of actuarial loss | 34 | 24 |
Amortization of prior service credit | (8) | (8) |
Amortization of settlement charges | 2 | |
Net periodic pension costs | (7) | (7) |
Duke Energy Carolinas | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | 12 | 12 |
Interest cost on projected benefit obligation | 16 | 20 |
Expected return on plan assets | (36) | (38) |
Amortization of actuarial loss | 7 | 6 |
Amortization of prior service credit | (2) | (2) |
Amortization of settlement charges | 1 | |
Net periodic pension costs | (2) | (2) |
Progress Energy | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | 12 | 11 |
Interest cost on projected benefit obligation | 21 | 26 |
Expected return on plan assets | (48) | (44) |
Amortization of actuarial loss | 11 | 9 |
Amortization of prior service credit | (1) | (1) |
Amortization of settlement charges | 1 | |
Net periodic pension costs | (4) | 1 |
Duke Energy Progress | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | 6 | 6 |
Interest cost on projected benefit obligation | 10 | 12 |
Expected return on plan assets | (22) | (23) |
Amortization of actuarial loss | 5 | 3 |
Net periodic pension costs | (1) | (2) |
Duke Energy Florida | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | 5 | 4 |
Interest cost on projected benefit obligation | 12 | 14 |
Expected return on plan assets | (25) | (22) |
Amortization of actuarial loss | 6 | 6 |
Net periodic pension costs | (2) | 2 |
Duke Energy Ohio | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | 1 | 1 |
Interest cost on projected benefit obligation | 4 | 5 |
Expected return on plan assets | (7) | (8) |
Amortization of actuarial loss | 2 | 1 |
Net periodic pension costs | (1) | |
Duke Energy Indiana | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | 2 | 2 |
Interest cost on projected benefit obligation | 6 | 6 |
Expected return on plan assets | (11) | (11) |
Amortization of actuarial loss | 3 | 2 |
Net periodic pension costs | (1) | |
Piedmont Natural Gas | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | 1 | 1 |
Interest cost on projected benefit obligation | 2 | 3 |
Expected return on plan assets | (5) | (5) |
Amortization of actuarial loss | 2 | 2 |
Amortization of prior service credit | (2) | (3) |
Net periodic pension costs | $ (2) | $ (2) |
Income Taxes (Effective Tax Rat
Income Taxes (Effective Tax Rates) (Details) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 13.30% | 9.60% |
Duke Energy Carolinas | ||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 16.10% | 17.70% |
Progress Energy | ||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 17.50% | 17.30% |
Duke Energy Progress | ||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 17.10% | 17.80% |
Duke Energy Florida | ||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 20.00% | 19.30% |
Duke Energy Ohio | ||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 17.70% | 16.90% |
Duke Energy Indiana | ||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 20.80% | 24.10% |
Piedmont Natural Gas | ||
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract] | ||
Effective tax rate | 10.10% | 21.80% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
AMT credit carryforwards | |
Tax Credit Carryforward [Line Items] | |
Tax refund | $ 572 |